# SAMCO INC.: business model and financials

> Latest period: FY ending Jul 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第46期(2024/08/01－2025/07/31) (S100WVTP)
> Page: https://vizora.meequs.com/en/company/samco
> Retrieved: 2026-09-30T20:58:26.981Z

## Company

Samco, founded in 1979, is a company in Semiconductor Equipment listed on TSE Prime. It has 191 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SAMCO INC. |
| Ticker | 6387 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6387.T) |
| Listing | TSE Prime |
| Head office | 京都市伏見区竹田藁屋町36番地 |
| Representative (per filing) | 代表取締役社長 川邊 史 |
| Founded | Sep 1979 |
| Share capital | ¥1.66B |
| Employees (consolidated) | 191 |
| Average salary (parent only) | ¥6.7M |
| Fiscal year end | July |
| Website | www.samco.co.jp (https://www.samco.co.jp/) |
| Corporate number | 4130001014511 |
| EDINET | E02060 |
| Industries (Vizora) | Semiconductor Equipment |

> Profile source: annual securities report (S100WVTP, filed 2025-10-20). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Equipment (2025-07-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 40.3 | 36 |
| Profitability | 89 | 41 |
| Cash conversion | 16.7 | 39 |
| Efficiency | 20.7 | 41 |

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)

- Samco brought in ¥9.34B in revenue.
- Out of every ¥100 of sales, about ¥25 is left as operating profit.
- Revenue changed +13.9% from the prior year, operating profit +16.1%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥9342282000 → ¥1697328000
- Net income → operating cash flow: ¥1697328000 → ¥1206003000（difference ¥-491325000）
- Main uses of operating cash flow: CapEx ¥406920000 / dividends ¥361459000 / buybacks ¥65000
- Change in cash: ¥384246000
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 | ¥9.34B |  |
| Operating income | ¥2.34B | Margin 25.1% |
| Net income | ¥1.7B | Margin 18.2% |
| Free cash flow | ¥799.1M |  |
| Employees (consolidated) | 191 |  |
| EPS | ¥211.3 |  |
| Book value per share | ¥1687.99 |  |
| Equity ratio | 76.3% |  |
| Shares outstanding | 8,042,881 |  |
| Treasury shares | 10,400 |  |
| Shareholders | 6,557 |  |
| Average salary (parent only) | ¥6.7M | Filing company only |
| Cash ratio | 28.3% | Cash ÷ revenue 53.8% |
| Vs. industry median margin | +10.6 pp | Semiconductor Equipment |
| ROE | 13.3% | Derived from disclosed figures |
| ROA | 10.0% | Derived from disclosed figures |

## Notable figures

- FY2025, operating income keeps 25 per ¥100 of revenue
- FY2025, cash is 28% of total assets

## What changed in 5 years

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5869982000 | ¥9342282000 | +59.2% |
| Operating income | ¥902233000 | ¥2342740000 | +159.7% |
| Operating margin | 15.4% | 25.1% | +9.7 pp |
| Employees | 171 people | 191 people | +11.7% |
| Cash and equivalents | ¥3476531000 | ¥5022029000 | +44.5% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 9,342 | 100.0% | S100WVTP |
| Cost of revenue | 4,674 | 50.0% | 算出 |
| Gross profit | 4,669 | 50.0% | S100WVTP |
| SG&A | 2,326 | 24.9% | S100WVTP |
| Operating income | 2,343 | 25.1% | S100WVTP |
| Ordinary income | 2,373 | 25.4% | S100WVTP |
| Pretax income | 2,373 | 25.4% | S100WVTP |
| Income tax | 676 | 7.2% | S100WVTP |
| Net income | 1,697 | 18.2% | S100WVTP |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 50 |
| SG&A | 25 |
| Operating income | 25 |
| (Ref.) Net income | 18 |

### Margin funnel

Gross margin 50.0% → Operating margin 25.1% → Net margin 18.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +13.9%; Core profit growth: +16.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.16×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 8,203 | 9,342 | 1,139 | +13.9% |
| Gross profit | 4,193 | 4,669 | 475 | +11.3% |
| Operating income | 2,017 | 2,343 | 326 | +16.1% |
| Operating cash flow | 1,642 | 1,206 | -436 | -26.6% |
| Free cash flow | 1,387 | 799 | -587 | -42.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 4,936 | 328 | 6.6% | 216 | 858 | 788 | S100JX84 |
| FY ending Jul 2020 | 5,870 | 902 | 15.4% | 635 | 868 | 825 | S100MN4V |
| FY ending Jul 2021 | 5,747 | 989 | 17.2% | 756 | 493 | -287 | S100PEAQ |
| FY ending Jul 2022 | 6,402 | 1,371 | 21.4% | 1,053 | 1,181 | 947 | S100S275 |
| FY ending Jul 2023 | 7,831 | 1,859 | 23.7% | 1,366 | -189 | -208 | S100UKC9 |
| FY ending Jul 2024 | 8,203 | 2,017 | 24.6% | 1,472 | 1,642 | 1,387 | S100WVTP |
| FY ending Jul 2025 | 9,342 | 2,343 | 25.1% | 1,697 | 1,206 | 799 | S100WVTP |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥48.9M |
| Operating income per employee (consolidated) | ¥12.3M |
| Net income per employee (consolidated) | ¥8.9M |

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

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 178 | 173 | 175 | 183 | 191 |
| Average salary (parent company) | ¥6M | ¥6.1M | ¥6.5M | ¥6.7M | ¥6.7M |
| Average age (parent company) | 40.9 years | 41.6 years | 40.9 years | 41.3 years | 41.1 years |
| Average tenure (parent company) | 13.5 years | 13.4 years | 13.2 years | 13.2 years | 13.1 years |

Year over year: Employees (consolidated) +4.4% · Revenue (consolidated) +13.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,206 | 12.9% | S100WVTP |
| Capital expenditure | 407 | 4.4% | S100WVTP |
| Free cash flow | 799 | 8.6% | 算出 |
| Investing cash flow | -414 | -4.4% | S100WVTP |
| Financing cash flow | -405 | -4.3% | S100WVTP |
| Dividends paid | 361 | 3.9% | S100WVTP |
| Share buyback | 0 | 0.0% | S100WVTP |
| Change in cash | 384 | 4.1% | S100WVTP |
| Cash and equivalents | 5,022 | 53.8% | S100WVTP |

## 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 Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,965 | 3,920 | 3,374 | 4,638 | 5,022 | S100S275, S100UKC9, S100WVTP |
| Total assets | 12,070 | 13,380 | 14,795 | 16,116 | 17,774 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Net assets | 9,410 | 10,058 | 11,144 | 12,300 | 13,559 | S100S275, S100UKC9, S100WVTP |
| Share capital | 1,664 | 1,664 | 1,664 | 1,664 | 1,664 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Property, plant and equipment | 3,649 | 3,816 | 3,863 | 4,097 | 4,455 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Intangible assets excluding goodwill | 9 | 5 | 4 | 18 | 35 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Investment securities | 305 | 290 | 301 | 369 | 261 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Current assets | 7,715 | 8,840 | 10,176 | 11,188 | 12,522 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Current liabilities | 1,821 | 2,314 | 2,676 | 2,834 | 3,215 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Short-term borrowings | 700 | 700 | 700 | 1,000 | 1,000 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Long-term borrowings | — | 143 | 103 | 63 | 23 | S100S275, S100UKC9, S100WVTP |
| Total liabilities | 2,660 | 3,322 | 3,651 | 3,816 | 4,216 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Equity attributable to owners of parent | 9,248 | 9,910 | 10,994 | 12,104 | 13,440 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Retained earnings | 5,517 | 6,179 | 7,264 | 8,374 | 9,710 | S100PEAQ, S100S275, S100UKC9, S100WVTP |
| Treasury stock | -12 | -12 | -13 | -14 | -14 | S100PEAQ, S100S275, S100UKC9, S100WVTP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100WVTP |
| Property, plant and equipment | 25% | S100WVTP |
| Intangibles and goodwill | 0% | S100WVTP |
| Investment securities | 2% | S100WVTP |
| Other assets | 45% | S100WVTP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100WVTP |
| Equity | 76% | S100WVTP |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 12,070 | 13,380 | 14,795 | 16,116 | 17,774 |
| Equity | 9,410 | 10,058 | 11,144 | 12,300 | 13,559 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,965 | 3,920 | 3,374 | 4,638 | 5,022 |

## 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) | 47.7% | S100WVTP |
| Fixed assets ÷ total assets | 25.1% | S100WVTP |
| Goodwill ÷ parent equity | — | —, S100WVTP |

### 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) | 28.3% |
| Cash ÷ revenue | 53.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 51.5% |
| Cash vs. profit gap | -491 JPY mn (of net income -28.9%) |
| Shareholder returns / net income | 21.3% |
| Shareholder returns / FCF | 45.2% |
| Shareholder payments — dividends / net income | 21.3% |
| Shareholder payments — dividends / FCF | 45.2% |
| CapEx intensity (capex ÷ revenue) | 4.4% |
| Investing CF relative to operating CF | 34.3% |

## 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 | 13.2% | 0.48× | 6.3% | 1.31× | 8.2% | S100PEAQ |
| 2022 | 16.4% | 0.50× | 8.3% | 1.33× | 11.0% | S100S275 |
| 2023 | 17.4% | 0.56× | 9.7% | 1.35× | 13.1% | S100UKC9 |
| 2024 | 17.9% | 0.53× | 9.5% | 1.34× | 12.7% | S100WVTP |
| 2025 | 18.2% | 0.55× | 10.0% | 1.33× | 13.3% | S100WVTP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| （一財）サムコ科学技術振興財団 | Major shareholder | 12.4% | 2025-07-31 |
| 日本マスタートラスト信託銀行（株） | Major shareholder | 11.5% | 2025-07-31 |
| 辻 理 | Major shareholder | 10.8% | 2025-07-31 |
| サムコエンジニアリング（株） | Major shareholder | 10.6% | 2025-07-31 |
| （株）日本カストディ銀行 | Major shareholder | 3.0% | 2025-07-31 |
| 辻 一美 | Major shareholder | 2.5% | 2025-07-31 |
| 野村信託銀行（株） | Major shareholder | 1.9% | 2025-07-31 |
| （株）三菱ＵＦＪ銀行 | Major shareholder | 1.6% | 2025-07-31 |
| 三菱ＵＦＪキャピタル（株） | Major shareholder | 1.3% | 2025-07-31 |
| 立田 利明 | Major shareholder | 1.3% | 2025-07-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第46期(2024/08/01－2025/07/31) | S100WVTP | 2025-10-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WVTP,, |
| 有価証券報告書－第45期(2023/08/01－2024/07/31) | S100UKC9 | 2024-10-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UKC9,, |
| 有価証券報告書－第44期(2022/08/01－2023/07/31) | S100S275 | 2023-10-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S275,, |
| 有価証券報告書－第43期(令和3年8月1日－令和4年7月31日) | S100PEAQ | 2022-10-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PEAQ,, |
| 有価証券報告書－第42期(令和2年8月1日－令和3年7月31日) | S100MN4V | 2021-10-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MN4V,, |
| 有価証券報告書－第41期(令和1年8月1日－令和2年7月31日) | S100JX84 | 2020-10-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JX84,, |

## 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).