# RHEON AUTOMATIC MACHINERY CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第64期(2025/04/01－2026/03/31) (S100YFES)
> Page: https://vizora.meequs.com/en/company/rheon-automatic-machinery
> Retrieved: 2026-09-30T19:50:28.816Z

## Company

Rheon Automatic Machinery, founded in 1961, is a company in Industrial Machinery listed on TSE Prime. It has 1,063 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | RHEON AUTOMATIC MACHINERY CO., LTD. |
| Ticker | 6272 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6272.T) |
| Listing | TSE Prime |
| Head office | 栃木県宇都宮市野沢町2番地3 |
| Representative (per filing) | 代表取締役社長 小林幹央 |
| Founded | Dec 1961 |
| Share capital | ¥7.35B |
| Employees (consolidated) | 1,063 |
| Average salary (parent only) | ¥7.2M |
| Fiscal year end | March |
| Website | www.rheon.com (https://www.rheon.com/) |
| Corporate number | 8060001004788 |
| EDINET | E01670 |
| Industries (Vizora) | Industrial Machinery, Processed Foods |

> Profile source: annual securities report (S100YFES, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 90.5 | 110 |
| Profitability | 75 | 122 |
| Cash conversion | 41.8 | 116 |
| Efficiency | 68.4 | 122 |

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)

- About 31% of Rheon Automatic Machinery's sales come from Food processing machinery manufacturing and sales, with Grocery manufacturing and sales and North and South America making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +7.1% from the prior year, operating profit -2.3%.

## Company structure

- Segment revenue mix: Food processing machinery manufacturing and sales 30.9%、Grocery manufacturing and sales 19.1%、North and South America 18.6%、Japan 13.7%、North and South America 7.0%
- Revenue → net income: ¥42014040000 → ¥3898346000
- Net income → operating cash flow: ¥3898346000 → ¥4516120000（difference ¥617774000）
- Main uses of operating cash flow: CapEx ¥8467659000 / dividends ¥1343793000 / buybacks ¥216000
- Change in cash: ¥-4660432000
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 | ¥42B |  |
| Operating income | ¥5.17B | Margin 12.3% |
| Net income | ¥3.9B | Margin 9.3% |
| Free cash flow | -¥3.95B |  |
| Largest business | Food processing machinery manufacturing and sales | of segment revenue 30.9% |
| Employees (consolidated) | 1,063 |  |
| EPS | ¥109.39 |  |
| Diluted EPS | ¥109.26 |  |
| Book value per share | ¥1140.23 |  |
| Equity ratio | 79.1% |  |
| Shares outstanding | 28,392,000 |  |
| Treasury shares | 1,388,000 |  |
| Shareholders | 9,076 |  |
| Average salary (parent only) | ¥7.2M | Filing company only |
| Cash ratio | 20.4% | Cash ÷ revenue 26.5% |
| Vs. industry median margin | +4.7 pp | Industrial Machinery |
| ROE | 10.2% | Derived from disclosed figures |
| ROA | 7.5% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥22280945000 | ¥42014040000 | +88.6% |
| Operating income | ¥1404090000 | ¥5174003000 | +268.5% |
| Operating margin | 6.3% | 12.3% | +6 pp |
| Employees | 1,056 people | 1,063 people | +0.7% |
| Cash and equivalents | ¥7484219000 | ¥11117444000 | +48.5% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 日本 → 日本 | 13.7% |
| 日本 → 事業再編・廃止 | 6.6% |
| 北米・南米 → 北米・南米 | 3.6% |
| ヨーロッパ → ヨーロッパ | 6.5% |
| ヨーロッパ → 事業再編・廃止 | 0.7% |
| アジア → アジア | 3.8% |
| アジア → 事業再編・廃止 | 1.3% |
| 食品加工機械製造販売事業 → 食品加工機械製造販売事業 | 30.9% |
| 食品加工機械製造販売事業 → 事業再編・廃止 | 5.2% |
| 北米・南米 → 北米・南米 | 12.9% |
| 日本 → 日本 | 0.5% |
| 日本 → 事業再編・廃止 | 0.5% |
| 食品製造販売事業 → 食品製造販売事業 | 13.9% |
| 新設・再編 → 北米・南米 | 3.4% |
| 新設・再編 → 北米・南米 | 5.7% |
| 新設・再編 → 食品製造販売事業 | 5.2% |

Segment revenue source references: 16 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Food processing machinery manufacturing and sales | 5 years | +10.1% | ¥25965445000 | 23.2% | 2 |
| Grocery manufacturing and sales | 5 years | +20.9% | ¥16048595000 | 9.7% | 2 |
| North and South America | 5 years | +22.1% | ¥15592576000 | 9.7% | 2 |
| Japan | 5 years | +4.9% | ¥11484823000 | 40.2% | 2 |
| North and South America | 5 years | +29.8% | ¥5857297000 | 6.6% | 2 |
| Europe | 5 years | +11.3% | ¥5422634000 | 6.5% | 2 |
| Asia | 5 years | +7.0% | ¥3200690000 | 21.2% | 2 |
| Japan | 5 years | -0.2% | ¥456019000 | 7.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 42,014 | 100.0% | S100YFES |
| Cost of revenue | 23,763 | 56.6% | S100YFES |
| Gross profit | 18,251 | 43.4% | S100YFES |
| SG&A | 13,077 | 31.1% | S100YFES |
| Operating income | 5,174 | 12.3% | S100YFES |
| Ordinary income | 5,589 | 13.3% | S100YFES |
| Pretax income | 5,589 | 13.3% | S100YFES |
| Income tax | 1,690 | 4.0% | S100YFES |
| Net income | 3,898 | 9.3% | S100YFES |
| Net income attributable to owners | 3,898 | 9.3% | S100YFES |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 57 |
| SG&A | 31 |
| Operating income | 12 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 43.4% → Operating margin 12.3% → Net margin 9.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +7.1%; Core profit growth: -2.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.33×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 39,214 | 42,014 | 2,800 | +7.1% |
| Gross profit | 17,794 | 18,251 | 457 | +2.6% |
| Operating income | 5,298 | 5,174 | -124 | -2.3% |
| Net income attributable to owners | 3,890 | 3,898 | 9 | +0.2% |
| Operating cash flow | 5,754 | 4,516 | -1,238 | -21.5% |
| Free cash flow | 3,771 | -3,952 | -7,722 | -204.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 26,897 | 2,888 | 10.7% | 1,972 | 1,278 | -1,668 | S100LUBS |
| FY ending Mar 2021 | 22,281 | 1,404 | 6.3% | 1,609 | 2,716 | 941 | S100OF9E |
| FY ending Mar 2022 | 26,585 | 1,099 | 4.1% | 1,487 | 3,649 | 2,620 | S100R65G |
| FY ending Mar 2023 | 35,269 | 3,007 | 8.5% | 2,738 | 3,092 | 1,974 | S100TVT1 |
| FY ending Mar 2024 | 37,703 | 4,884 | 13.0% | 3,675 | 4,591 | 3,133 | S100W3X7 |
| FY ending Mar 2025 | 39,214 | 5,298 | 13.5% | 3,890 | 5,754 | 3,771 | S100YFES |
| FY ending Mar 2026 | 42,014 | 5,174 | 12.3% | 3,898 | 4,516 | -3,952 | S100YFES |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥39.5M |
| Operating income per employee (consolidated) | ¥4.9M |
| Net income per employee (consolidated) | ¥3.7M |

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

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,095 | 1,123 | 1,078 | 1,075 | 1,063 |
| Average salary (parent company) | ¥6.7M | ¥7.2M | ¥7.1M | ¥7.1M | ¥7.2M |
| Average age (parent company) | 46.4 years | 46.1 years | 45.6 years | 45.6 years | 45.2 years |
| Average tenure (parent company) | 23.1 years | 22.7 years | 22.1 years | 21.8 years | 21.4 years |

Year over year: Employees (consolidated) -1.1% · Revenue (consolidated) +7.1%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 11,485 | 13.7% | 4,619 | 40.2% |
| North and South America | 5,857 | 7.0% | 385 | 6.6% |
| Europe | 5,423 | 6.5% | 351 | 6.5% |
| Asia | 3,201 | 3.8% | 680 | 21.2% |
| Food processing machinery manufacturing and sales | 25,965 | 30.9% | 6,035 | 23.2% |
| North and South America | 15,593 | 18.6% | 1,518 | 9.7% |
| Japan | 456 | 0.5% | 32 | 7.0% |
| Grocery manufacturing and sales | 16,049 | 19.1% | 1,550 | 9.7% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 13.7% | 30.4% | 16.8 | 40.2% |
| North and South America | 7.0% | 2.5% | -4.4 | 6.6% |
| Europe | 6.5% | 2.3% | -4.1 | 6.5% |
| Asia | 3.8% | 4.5% | 0.7 | 21.2% |
| Food processing machinery manufacturing and sales | 30.9% | 39.8% | 8.9 | 23.2% |
| North and South America | 18.6% | 10.0% | -8.6 | 9.7% |
| Japan | 0.5% | 0.2% | -0.3 | 7.0% |
| Grocery manufacturing and sales | 19.1% | 10.2% | -8.9 | 9.7% |

Segment → industry: Japan → Industrial Machinery / North and South America → Industrial Machinery / Europe → Industrial Machinery / Asia → Industrial Machinery / Food processing machinery manufacturing and sales → Industrial Machinery / North and South America → Processed Foods / Japan → Processed Foods / Grocery manufacturing and sales → Processed Foods

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 4,516 | 10.7% | S100YFES |
| Capital expenditure | 8,468 | 20.2% | S100YFES |
| Free cash flow | -3,952 | -9.4% | 算出 |
| Investing cash flow | -8,475 | -20.2% | S100YFES |
| Financing cash flow | -1,049 | -2.5% | S100YFES |
| Dividends paid | 1,344 | 3.2% | S100YFES |
| Share buyback | 0 | 0.0% | S100YFES |
| Change in cash | -4,660 | -11.1% | S100YFES |
| Cash and equivalents | 11,117 | 26.5% | S100YFES |

## 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 Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 10,000 | 11,440 | 13,592 | 15,778 | 11,117 | S100TVT1, S100W3X7, S100YFES |
| Total assets | 36,652 | 40,213 | 44,575 | 49,242 | 54,405 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Net assets | 28,377 | 31,385 | 35,884 | 38,715 | 43,062 | S100TVT1, S100W3X7, S100YFES |
| Share capital | 7,352 | 7,352 | 7,352 | 7,352 | 7,352 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Trade receivables | 2,331 | 3,234 | 3,236 | 4,094 | 4,658 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Property, plant and equipment | 12,963 | 13,487 | 14,399 | 14,976 | 22,687 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Intangible assets excluding goodwill | 1,238 | 1,177 | 1,158 | 1,211 | 1,190 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Investment securities | 976 | 1,241 | 1,584 | 1,954 | 2,386 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Current assets | 19,792 | 22,664 | 25,404 | 29,074 | 25,655 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Current liabilities | 6,275 | 6,949 | 6,744 | 8,867 | 9,621 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Trade payables | 1,143 | 1,195 | 1,285 | 1,420 | 1,438 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Short-term borrowings | 704 | 795 | 705 | 661 | 1,154 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Long-term borrowings | 1,363 | 1,138 | 903 | 737 | 573 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Total liabilities | 8,274 | 8,828 | 8,690 | 10,527 | 11,343 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Equity attributable to owners of parent | 29,235 | 31,441 | 34,117 | 36,956 | 39,626 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Retained earnings | 15,579 | 17,781 | 20,410 | 23,145 | 25,697 | S100R65G, S100TVT1, S100W3X7, S100YFES |
| Treasury stock | -771 | -770 | -751 | -721 | -675 | S100R65G, S100TVT1, S100W3X7, S100YFES |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YFES |
| Receivables | 9% | S100YFES |
| Property, plant and equipment | 42% | S100YFES |
| Intangibles and goodwill | 2% | S100YFES |
| Investment securities | 4% | S100YFES |
| Other assets | 23% | S100YFES |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YFES |
| Other liabilities | 18% | S100YFES |
| Equity | 79% | S100YFES |
| Other liabilities | 0% | S100YFES |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 36,652 | 40,213 | 44,575 | 49,242 | 54,405 |
| Equity | 28,377 | 31,385 | 35,884 | 38,715 | 43,062 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 10,000 | 11,440 | 13,592 | 15,778 | 11,117 |

## 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) | 54.0% | S100YFES |
| Fixed assets ÷ total assets | 41.7% | S100YFES |
| Goodwill ÷ parent equity | — | —, S100YFES |

### 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) | 20.4% |
| Cash ÷ revenue | 26.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 87.3% |
| Cash vs. profit gap | 618 JPY mn (of net income 15.8%) |
| Shareholder returns / net income | 34.5% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 34.5% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 20.2% |
| Investing CF relative to operating CF | 187.7% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 5.6% | 0.73× | 4.1% | 1.25× | 5.1% | S100R65G |
| 2023 | 7.8% | 0.92× | 7.1% | 1.27× | 9.0% | S100TVT1 |
| 2024 | 9.7% | 0.89× | 8.7% | 1.29× | 11.2% | S100W3X7 |
| 2025 | 9.9% | 0.84× | 8.3% | 1.32× | 10.9% | S100YFES |
| 2026 | 9.3% | 0.81× | 7.5% | 1.35× | 10.2% | S100YFES |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 公益財団法人林レオロジー記念財団 | Major shareholder | 11.2% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 11.0% | 2026-03-31 |
| ラム商事有限会社 | Major shareholder | 6.3% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.0% | 2026-03-31 |
| 株式会社足利銀行 | Major shareholder | 4.3% | 2026-03-31 |
| レオン自動機従業員持株会 | Major shareholder | 3.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 2.3% | 2026-03-31 |
| 株式会社栃木銀行 | Major shareholder | 1.8% | 2026-03-31 |
| 双葉企画株式会社 | Major shareholder | 1.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第64期(2025/04/01－2026/03/31) | S100YFES | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFES,, |
| 有価証券報告書－第63期(2024/04/01－2025/03/31) | S100W3X7 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3X7,, |
| 有価証券報告書－第62期(2023/04/01－2024/03/31) | S100TVT1 | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVT1,, |
| 有価証券報告書－第61期(2022/04/01－2023/03/31) | S100R65G | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R65G,, |
| 有価証券報告書－第60期(令和3年4月1日－令和4年3月31日) | S100OF9E | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OF9E,, |
| 有価証券報告書－第59期(令和2年4月1日－令和3年3月31日) | S100LUBS | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUBS,, |

## 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).