# SAFTEC 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69期(2025/04/01－2026/03/31) (S100YJG0)
> Page: https://vizora.meequs.com/en/company/saftec
> Retrieved: 2026-09-30T20:24:46.715Z

## Company

Saftec, founded in 1952, is a company in Specialty Trading & Wholesale listed on TSE Standard. It has 372 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SAFTEC CO.,LTD. |
| Ticker | 7464 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7464.T) |
| Listing | TSE Standard |
| Head office | 東京都文京区本郷5丁目25番14号 |
| Representative (per filing) | 代表取締役社長執行役員 岡﨑 太一 |
| Founded | Apr 1952 |
| Share capital | ¥886M |
| Employees (consolidated) | 372 |
| Average salary (parent only) | ¥5M |
| Fiscal year end | March |
| Website | www.saftec.co.jp (https://www.saftec.co.jp/) |
| Corporate number | 7010001004224 |
| EDINET | E03251 |
| Industries (Vizora) | Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YJG0, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 13.1 | 179 |
| Profitability | 42.4 | 185 |
| Cash conversion | 28.8 | 179 |
| Efficiency | 8.9 | 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)

- Saftec brought in ¥10.1B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -1.9% from the prior year, operating profit -30.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥10111048000 → ¥143504000
- Net income → operating cash flow: ¥143504000 → ¥162216000（difference ¥18712000）
- Main uses of operating cash flow: CapEx ¥27098000 / dividends ¥150959000 / buybacks ¥31712000
- Change in cash: ¥-514846000
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 | ¥10.1B |  |
| Operating income | ¥245.3M | Margin 2.4% |
| Net income | ¥143.5M | Margin 1.4% |
| Free cash flow | ¥135.1M |  |
| Employees (consolidated) | 372 |  |
| EPS | ¥86.37 |  |
| Book value per share | ¥3972.49 |  |
| Equity ratio | 62.5% |  |
| Shares outstanding | 2,000,000 |  |
| Treasury shares | 243,800 |  |
| Shareholders | 784 |  |
| Average salary (parent only) | ¥5M | Filing company only |
| Cash ratio | 33.8% | Cash ÷ revenue 38.9% |
| Vs. industry median margin | -0.4 pp | Specialty Trading & Wholesale |
| ROE | 1.8% | Derived from disclosed figures |
| ROA | 1.2% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 34% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥10106797000 | ¥10111048000 | +0.0% |
| Operating income | ¥1021369000 | ¥245289000 | -76.0% |
| Operating margin | 10.1% | 2.4% | -7.7 pp |
| Employees | 339 people | 372 people | +9.7% |
| Cash and equivalents | ¥3637506000 | ¥3936987000 | +8.2% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 10,111 | 100.0% | S100YJG0 |
| Cost of revenue | 5,600 | 55.4% | S100YJG0 |
| Gross profit | 4,512 | 44.6% | S100YJG0 |
| SG&A | 4,266 | 42.2% | S100YJG0 |
| Operating income | 245 | 2.4% | S100YJG0 |
| Ordinary income | 264 | 2.6% | S100YJG0 |
| Pretax income | 265 | 2.6% | S100YJG0 |
| Income tax | 121 | 1.2% | S100YJG0 |
| Net income | 144 | 1.4% | S100YJG0 |
| Net income attributable to owners | 144 | 1.4% | S100YJG0 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 55 |
| SG&A | 42 |
| Operating income | 3 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 44.6% → Operating margin 2.4% → Net margin 1.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -1.9%; Core profit growth: -30.9%
Operating leverage (core profit growth ÷ revenue growth): 15.84×
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 | 10,312 | 10,111 | -201 | -1.9% |
| Gross profit | 4,685 | 4,512 | -173 | -3.7% |
| Operating income | 355 | 245 | -110 | -30.9% |
| Net income attributable to owners | 230 | 144 | -86 | -37.6% |
| Operating cash flow | 1,182 | 162 | -1,020 | -86.3% |
| Free cash flow | 1,043 | 135 | -907 | -87.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 10,146 | 974 | 9.6% | 612 | 1,051 | 782 | S100LUCH |
| FY ending Mar 2021 | 10,107 | 1,021 | 10.1% | 667 | 1,351 | 1,255 | S100OM49 |
| FY ending Mar 2022 | 10,348 | 1,221 | 11.8% | 809 | 1,421 | 1,383 | S100RA47 |
| FY ending Mar 2023 | 9,967 | 874 | 8.8% | 576 | 711 | 693 | S100TWFO |
| FY ending Mar 2024 | 10,123 | 535 | 5.3% | 347 | 850 | 822 | S100W91H |
| FY ending Mar 2025 | 10,312 | 355 | 3.4% | 230 | 1,182 | 1,043 | S100YJG0 |
| FY ending Mar 2026 | 10,111 | 245 | 2.4% | 144 | 162 | 135 | S100YJG0 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27.2M |
| Operating income per employee (consolidated) | ¥659.4K |
| Net income per employee (consolidated) | ¥385.8K |

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) | 353 | 378 | 387 | 380 | 372 |
| Average salary (parent company) | ¥4.6M | ¥4.7M | ¥4.7M | ¥4.9M | ¥5M |
| Average age (parent company) | 41.6 years | 41.6 years | 42.0 years | 42.5 years | 43.3 years |
| Average tenure (parent company) | 12.9 years | 12.4 years | 12.6 years | 13.5 years | 13.9 years |

Year over year: Employees (consolidated) -2.1% · Revenue (consolidated) -1.9%

## 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 | 162 | 1.6% | S100YJG0 |
| Capital expenditure | 27 | 0.3% | S100YJG0 |
| Free cash flow | 135 | 1.3% | 算出 |
| Investing cash flow | -33 | -0.3% | S100YJG0 |
| Financing cash flow | -644 | -6.4% | S100YJG0 |
| Dividends paid | 151 | 1.5% | S100YJG0 |
| Share buyback | 32 | 0.3% | S100YJG0 |
| Change in cash | -515 | -5.1% | S100YJG0 |
| Cash and equivalents | 3,937 | 38.9% | S100YJG0 |

## 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 | 4,321 | 4,260 | 4,126 | 4,452 | 3,937 | S100TWFO, S100W91H, S100YJG0 |
| Total assets | 12,178 | 12,284 | 12,417 | 12,422 | 11,660 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Net assets | 6,612 | 7,053 | 7,129 | 7,225 | 7,286 | S100TWFO, S100W91H, S100YJG0 |
| Share capital | 886 | 886 | 886 | 886 | 886 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Trade receivables | 2,338 | 2,379 | 2,497 | 1,956 | 1,704 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Property, plant and equipment | 3,527 | 3,425 | 3,549 | 3,708 | 3,510 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Intangible assets excluding goodwill | 55 | 46 | 51 | 42 | 47 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Investment securities | 227 | 318 | 445 | 504 | 645 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Current assets | 8,093 | 8,233 | 8,170 | 7,991 | 7,328 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Current liabilities | 3,773 | 3,476 | 4,124 | 3,480 | 2,802 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Trade payables | 944 | 969 | 982 | 989 | 304 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Short-term borrowings | 1,601 | 1,651 | 1,601 | 1,601 | 1,641 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Long-term borrowings | 932 | 929 | 176 | 673 | 629 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Total liabilities | 5,566 | 5,231 | 5,288 | 5,197 | 4,374 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Equity attributable to owners of parent | 7,764 | 8,176 | 8,123 | 8,121 | 8,082 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Retained earnings | 5,988 | 6,401 | 6,585 | 6,623 | 6,615 | S100RA47, S100TWFO, S100W91H, S100YJG0 |
| Treasury stock | -78 | -79 | -316 | -355 | -387 | S100RA47, S100TWFO, S100W91H, S100YJG0 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 34% | S100YJG0 |
| Receivables | 15% | S100YJG0 |
| Property, plant and equipment | 30% | S100YJG0 |
| Intangibles and goodwill | 0% | S100YJG0 |
| Investment securities | 5% | S100YJG0 |
| Other assets | 16% | S100YJG0 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YJG0 |
| Other liabilities | 35% | S100YJG0 |
| Equity | 62% | S100YJG0 |
| Other liabilities | 0% | S100YJG0 |

### 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 | 12,178 | 12,284 | 12,417 | 12,422 | 11,660 |
| Equity | 6,612 | 7,053 | 7,129 | 7,225 | 7,286 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,321 | 4,260 | 4,126 | 4,452 | 3,937 |

## 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) | 34.7% | S100YJG0 |
| Fixed assets ÷ total assets | 30.1% | S100YJG0 |
| Goodwill ÷ parent equity | — | —, S100YJG0 |

### 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) | 33.8% |
| Cash ÷ revenue | 38.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 66.1% |
| Cash vs. profit gap | 19 JPY mn (of net income 13.0%) |
| Shareholder returns / net income | 127.3% |
| Shareholder returns / FCF | 135.2% |
| Shareholder payments — dividends / net income | 105.2% |
| Shareholder payments — dividends / FCF | 111.7% |
| CapEx intensity (capex ÷ revenue) | 0.3% |
| Investing CF relative to operating CF | 20.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 7.8% | 0.85× | 6.6% | 1.57× | 10.4% | S100RA47 |
| 2023 | 5.8% | 0.81× | 4.7% | 1.53× | 7.2% | S100TWFO |
| 2024 | 3.4% | 0.82× | 2.8% | 1.52× | 4.3% | S100W91H |
| 2025 | 2.2% | 0.83× | 1.9% | 1.53× | 2.8% | S100YJG0 |
| 2026 | 1.4% | 0.84× | 1.2% | 1.49× | 1.8% | S100YJG0 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ㈲裕﨑興産 | Major shareholder | 31.5% | 2026-03-31 |
| 岡﨑 勇 | Major shareholder | 11.0% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 4.3% | 2026-03-31 |
| 小川 由晃 | Major shareholder | 3.0% | 2026-03-31 |
| 吉田 政功 | Major shareholder | 2.8% | 2026-03-31 |
| 前山 満 | Major shareholder | 2.7% | 2026-03-31 |
| 安本 雅洋 | Major shareholder | 2.6% | 2026-03-31 |
| ㈱三菱ＵＦＪ銀行 | Major shareholder | 2.2% | 2026-03-31 |
| 柿沼 佑一 | Major shareholder | 1.7% | 2026-03-31 |
| セフテック従業員持株会 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第69期(2025/04/01－2026/03/31) | S100YJG0 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJG0,, |
| 有価証券報告書－第68期(2024/04/01－2025/03/31) | S100W91H | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W91H,, |
| 有価証券報告書－第67期(2023/04/01－2024/03/31) | S100TWFO | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWFO,, |
| 有価証券報告書－第66期(2022/04/01－2023/03/31) | S100RA47 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RA47,, |
| 有価証券報告書－第65期(令和3年4月1日－令和4年3月31日) | S100OM49 | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OM49,, |
| 有価証券報告書－第64期(令和2年4月1日－令和3年3月31日) | S100LUCH | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUCH,, |

## 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).