# OTAKE CORPORATION: business model and financials

> Latest period: FY ending May 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第73期(2024/06/01－2025/05/31) (S100WLHT)
> Page: https://vizora.meequs.com/en/company/otake
> Retrieved: 2026-09-30T19:09:17.256Z

## Company

Otake, founded in 1952, is a company in Specialty Trading & Wholesale listed on TSE Standard. It has 300 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OTAKE CORPORATION |
| Ticker | 7434 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7434.T) |
| Listing | TSE Standard |
| Head office | 名古屋市中区丸の内二丁目1番8号 |
| Representative (per filing) | 代表取締役社長 金戸俊哉 |
| Founded | May 1952 |
| Share capital | ¥1.31B |
| Employees (consolidated) | 300 |
| Average salary (parent only) | ¥5.7M |
| Fiscal year end | May |
| Website | www.kk-otake.co.jp (https://www.kk-otake.co.jp/) |
| Corporate number | 9180001029707 |
| EDINET | E02803 |
| Industries (Vizora) | Specialty Trading & Wholesale |

> Profile source: annual securities report (S100WLHT, filed 2025-08-28). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2025-05-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 51.6 | 185 |
| Cash conversion | 50.6 | 179 |
| Efficiency | 30.5 | 185 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- Otake brought in ¥33B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +5.6% from the prior year, operating profit +6.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥32993580000 → ¥855073000
- Net income → operating cash flow: ¥855073000 → ¥983891000（difference ¥128818000）
- Main uses of operating cash flow: CapEx ¥253118000 / dividends ¥140220000 / buybacks ¥190092000
- Change in cash: ¥50087000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥33B |  |
| Operating income | ¥978M | Margin 3.0% |
| Net income | ¥855.1M | Margin 2.6% |
| Free cash flow | ¥730.8M |  |
| Employees (consolidated) | 300 |  |
| EPS | ¥223.3 |  |
| Book value per share | ¥3938.64 |  |
| Equity ratio | 59.0% |  |
| Shares outstanding | 4,284,500 |  |
| Treasury shares | 368,800 |  |
| Shareholders | 1,131 |  |
| Average salary (parent only) | ¥5.7M | Filing company only |
| Cash ratio | 10.4% | Cash ÷ revenue 8.2% |
| Vs. industry median margin | +0.1 pp | Specialty Trading & Wholesale |
| ROE | 5.9% | Derived from disclosed figures |
| ROA | 3.3% | Derived from disclosed figures |

## Notable figures

- FY2025, buybacks were 1.4× dividends

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending May 2020 | FY ending May 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥25313442000 | ¥32993580000 | — |
| Operating income | ¥223288000 | ¥977992000 | — |
| Operating margin | 0.9% | 3.0% | +2.1 pp |
| Employees | 249 people | 300 people | — |
| Cash and equivalents | ¥1842442000 | ¥2699444000 | — |

### Change in segment revenue mix

Span: FY ending May 2020 → FY ending May 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending May 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 32,994 | 100.0% | S100WLHT |
| Cost of revenue | 28,239 | 85.6% | S100WLHT |
| Gross profit | 4,754 | 14.4% | S100WLHT |
| SG&A | 3,777 | 11.4% | S100WLHT |
| Operating income | 978 | 3.0% | S100WLHT |
| Ordinary income | 1,213 | 3.7% | S100WLHT |
| Pretax income | 1,240 | 3.8% | S100WLHT |
| Income tax | 385 | 1.2% | S100WLHT |
| Net income | 855 | 2.6% | S100WLHT |
| Net income attributable to owners | 855 | 2.6% | S100WLHT |

## Per ¥100 of revenue（FY ending May 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 86 |
| SG&A | 11 |
| Operating income | 3 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 14.4% → Operating margin 3.0% → Net margin 2.6%
Derived from reported figures (DERIVED).

## Year over year（FY ending May 2024 → FY ending May 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 31,253 | 32,994 | 1,740 | +5.6% |
| Gross profit | 4,353 | 4,754 | 401 | +9.2% |
| Operating income | 917 | 978 | 61 | +6.7% |
| Operating cash flow | 1,541 | 984 | -557 | -36.1% |
| Free cash flow | 1,147 | 731 | -416 | -36.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2019 | 26,459 | 482 | 1.8% | 421 | 1,133 | -122 | S100JLMT |
| FY ending May 2020 | 25,313 | 223 | 0.9% | 611 | 262 | -128 | S100MBX5 |
| FY ending May 2021 | 23,915 | 142 | 0.6% | 517 | -614 | -663 | S100P30O |
| FY ending May 2022 | 26,615 | 601 | 2.3% | 530 | 926 | 875 | S100RRAA |
| FY ending May 2023 | 29,322 | 915 | 3.1% | 822 | 336 | -28 | S100UA1G |
| FY ending May 2024 | 31,253 | 917 | 2.9% | 775 | 1,541 | 1,147 | S100UA1G |
| FY ending May 2025 | 32,994 | 978 | 3.0% | 855 | 984 | 731 | S100WLHT |

## People and productivity（FY ending May 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥110M |
| Operating income per employee (consolidated) | ¥3.3M |
| Net income per employee (consolidated) | ¥2.9M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending May 2021 | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 253 | 255 | 266 | 269 | 300 |
| Average salary (parent company) | ¥4.8M | ¥5.1M | ¥5.6M | ¥5.6M | ¥5.7M |
| Average age (parent company) | 38.7 years | 40.3 years | 38.9 years | 38.6 years | 38.6 years |
| Average tenure (parent company) | 13.3 years | 13.5 years | 13.0 years | 12.6 years | 12.2 years |

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending May 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 984 | 3.0% | S100WLHT |
| Capital expenditure | 253 | 0.8% | S100WLHT |
| Free cash flow | 731 | 2.2% | 算出 |
| Investing cash flow | -534 | -1.6% | S100WLHT |
| Financing cash flow | -399 | -1.2% | S100WLHT |
| Dividends paid | 140 | 0.4% | S100WLHT |
| Share buyback | 190 | 0.6% | S100WLHT |
| Change in cash | 50 | 0.2% | S100WLHT |
| Cash and equivalents | 2,699 | 8.2% | S100WLHT |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending May 2021 | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,388 | 2,145 | 1,918 | 2,649 | 2,699 | S100RRAA, S100UA1G, S100WLHT |
| Total assets | 19,763 | 21,032 | 23,214 | 24,527 | 26,065 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Net assets | 12,501 | 12,907 | 13,978 | 14,923 | 15,388 | S100RRAA, S100UA1G, S100WLHT |
| Share capital | 1,312 | 1,312 | 1,312 | 1,312 | 1,312 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Property, plant and equipment | 4,372 | 4,320 | 4,577 | 4,820 | 4,981 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Intangible assets excluding goodwill | 76 | 66 | 69 | 98 | 438 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Goodwill | — | — | — | — | 128 | S100WLHT |
| Investment securities | 1,794 | 1,758 | 2,345 | 3,130 | 3,270 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Current assets | 13,382 | 14,728 | 16,064 | 16,319 | 17,228 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Current liabilities | 6,227 | 7,116 | 8,086 | 8,276 | 9,294 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Trade payables | — | — | — | — | 2,657 | S100WLHT |
| Long-term borrowings | — | — | — | 72 | 53 | S100UA1G, S100WLHT |
| Total liabilities | 7,262 | 8,125 | 9,236 | 9,603 | 10,676 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Equity attributable to owners of parent | 12,078 | 12,525 | 13,288 | 13,942 | 14,478 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Retained earnings | 10,001 | 10,439 | 11,152 | 11,795 | 12,510 | S100P30O, S100RRAA, S100UA1G, S100WLHT |
| Treasury stock | -550 | -542 | -492 | -481 | -660 | S100P30O, S100RRAA, S100UA1G, S100WLHT |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100WLHT |
| Property, plant and equipment | 19% | S100WLHT |
| Intangibles and goodwill | 2% | S100WLHT |
| Investment securities | 13% | S100WLHT |
| Other assets | 56% | S100WLHT |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 10% | S100WLHT |
| Other liabilities | 31% | S100WLHT |
| Equity | 59% | S100WLHT |
| Other liabilities | 0% | S100WLHT |

### Balance sheet history

| Metric | FY ending May 2021 | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 19,763 | 21,032 | 23,214 | 24,527 | 26,065 |
| Equity | 12,501 | 12,907 | 13,978 | 14,923 | 15,388 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,388 | 2,145 | 1,918 | 2,649 | 2,699 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 15.1% | S100WLHT |
| Fixed assets ÷ total assets | 19.1% | S100WLHT |
| Goodwill ÷ parent equity | 0.9% | S100WLHT |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 10.4% |
| Cash ÷ revenue | 8.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 100.6% |
| Cash vs. profit gap | 129 JPY mn (of net income 15.1%) |
| Shareholder returns / net income | 38.6% |
| Shareholder returns / FCF | 45.2% |
| Shareholder payments — dividends / net income | 16.4% |
| Shareholder payments — dividends / FCF | 19.2% |
| CapEx intensity (capex ÷ revenue) | 0.8% |
| Investing CF relative to operating CF | 54.3% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 2.2% | 1.21× | 2.6% | 1.64× | 4.3% | S100P30O |
| 2022 | 2.0% | 1.30× | 2.6% | 1.66× | 4.3% | S100RRAA |
| 2023 | 2.8% | 1.33× | 3.7% | 1.71× | 6.4% | S100UA1G |
| 2024 | 2.5% | 1.31× | 3.2% | 1.75× | 5.7% | S100UA1G |
| 2025 | 2.6% | 1.27× | 3.3% | 1.80× | 5.9% | S100WLHT |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| オータケ持株会 | Major shareholder | 12.3% | 2025-05-31 |
| 西尾市 | Major shareholder | 9.3% | 2025-05-31 |
| 株式会社キッツ | Major shareholder | 8.6% | 2025-05-31 |
| オータケ従業員持株会 | Major shareholder | 7.8% | 2025-05-31 |
| 岡谷鋼機株式会社 | Major shareholder | 4.2% | 2025-05-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 3.3% | 2025-05-31 |
| 尾 崎 美 津 子 | Major shareholder | 2.9% | 2025-05-31 |
| 株式会社名古屋銀行 | Major shareholder | 2.8% | 2025-05-31 |
| 株式会社ベン | Major shareholder | 2.7% | 2025-05-31 |
| 株式会社ヨシタケ | Major shareholder | 2.0% | 2025-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第73期(2024/06/01－2025/05/31) | S100WLHT | 2025-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WLHT,, |
| 有価証券報告書－第72期(2023/06/01－2024/05/31) | S100UA1G | 2024-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UA1G,, |
| 有価証券報告書－第71期(2022/06/01－2023/05/31) | S100RRAA | 2023-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RRAA,, |
| 有価証券報告書－第70期(令和3年6月1日－令和4年5月31日) | S100P30O | 2022-08-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P30O,, |
| 有価証券報告書－第69期(令和2年6月1日－令和3年5月31日) | S100MBX5 | 2021-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MBX5,, |
| 有価証券報告書－第68期(令和1年6月1日－令和2年5月31日) | S100JLMT | 2020-08-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JLMT,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).