# Sanken Electric 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109期(2025/04/01－2026/03/31) (S100YI8X)
> Page: https://vizora.meequs.com/en/company/sanken-electric
> Retrieved: 2026-09-30T21:38:16.387Z

## Company

Sanken Electric, founded in 1937, is a company in Semiconductors listed on TSE Prime. It has 2,683 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Sanken Electric Co., Ltd. |
| Ticker | 6707 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6707.T) |
| Listing | TSE Prime |
| Head office | 埼玉県新座市北野三丁目6番3号 |
| Representative (per filing) | 代表取締役社長CEO 髙橋広 |
| Founded | Oct 1937 |
| Share capital | ¥20.9B |
| Employees (consolidated) | 2,683 |
| Average salary (parent only) | ¥7.1M |
| Fiscal year end | March |
| Website | www.sanken-ele.co.jp (https://www.sanken-ele.co.jp/) |
| Corporate number | 3030001045666 |
| EDINET | E01790 |
| Industries (Vizora) | Semiconductors |

> Profile source: annual securities report (S100YI8X, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Semiconductors (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 11.5 | 13 |
| Profitability | 25 | 14 |
| Efficiency | 25 | 14 |

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)

- Sanken Electric brought in ¥80.2B in revenue.
- It lost about ¥6 for every ¥100 of sales at the operating level.
- Revenue changed -34.1% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥80.2B |  |
| Operating income | -¥4.73B | Margin -5.9% |
| Net income | -¥9.8B | Margin -12.2% |
| Free cash flow | -¥13.8B |  |
| Employees (consolidated) | 2,683 |  |
| EPS | ¥-509.51 |  |
| Book value per share | ¥3126.02 |  |
| Equity ratio | 50.1% |  |
| Shares outstanding | 20,925,360 |  |
| Treasury shares | 876,500 |  |
| Shareholders | 4,268 |  |
| Average salary (parent only) | ¥7.1M | Filing company only |
| Cash ratio | 14.5% | Net cash -¥29.8B · Cash ÷ revenue 43.5% |
| Vs. industry median margin | -9.2 pp | Semiconductors |
| ROA | -3.9% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 11735.5× dividends
- FY2026, revenue is 0.5× its level five years ago

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥156795000000 | ¥80175000000 | -48.9% |
| Operating income | ¥-1198000000 | ¥-4728000000 | — |
| Operating margin | -0.8% | -5.9% | -5.1 pp |
| Employees | 8,431 people | 2,683 people | -68.2% |
| Cash and equivalents | ¥59812000000 | ¥34840000000 | -41.8% |

### 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 |
| --- | ---: |
| 半導体デバイス事業 → 事業再編・廃止 | 91.0% |
| パワーシステム事業 → 事業再編・廃止 | 9.0% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 80,175 | 100.0% | S100YI8X |
| Cost of revenue | 72,674 | 90.6% | S100YI8X |
| Gross profit | 7,500 | 9.4% | S100YI8X |
| SG&A | 12,229 | 15.3% | S100YI8X |
| Operating income | -4,728 | -5.9% | S100YI8X |
| Ordinary income | -8,839 | -11.0% | S100YI8X |
| Pretax income | -8,846 | -11.0% | S100YI8X |
| Income tax | 939 | 1.2% | S100YI8X |
| Net income | -9,786 | -12.2% | S100YI8X |
| Net income attributable to owners | -9,798 | -12.2% | S100YI8X |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 91 |
| SG&A | 15 |
| Operating income | -6 |
| (Ref.) Net income | -12 |

### Margin funnel

Gross margin 9.4% → Operating margin -5.9% → Net margin -12.2%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 121,619 | 80,175 | -41,444 | -34.1% |
| Gross profit | 24,935 | 7,500 | -17,435 | -69.9% |
| Operating income | -3,788 | -4,728 | -940 | — |
| Net income attributable to owners | 50,934 | -9,798 | -60,732 | -119.2% |
| Operating cash flow | -9,706 | -8,898 | 808 | — |
| Free cash flow | -27,946 | -13,813 | 14,133 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 160,217 | 4,309 | 2.7% | -5,559 | 13,118 | 1,058 | S100LNZH |
| FY ending Mar 2021 | 156,795 | -1,198 | -0.8% | -6,952 | 7,629 | -3,166 | S100OAT9 |
| FY ending Mar 2022 | 175,660 | 13,720 | 7.8% | 3,204 | 13,675 | -4,074 | S100QZYC |
| FY ending Mar 2023 | 225,387 | 26,156 | 11.6% | 9,533 | 19,200 | -3,886 | S100TOEF |
| FY ending Mar 2024 | 235,221 | 19,539 | 8.3% | -8,112 | 15,528 | -14,848 | S100W51U |
| FY ending Mar 2025 | 121,619 | -3,788 | -3.1% | 50,934 | -9,706 | -27,946 | S100YI8X |
| FY ending Mar 2026 | 80,175 | -4,728 | -5.9% | -9,798 | -8,898 | -13,813 | S100YI8X |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥29.9M |
| Operating income per employee (consolidated) | -¥1.8M |
| 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) | 8,101 | 8,707 | 8,534 | 3,312 | 2,683 |
| Average salary (parent company) | ¥6.7M | ¥7M | ¥7M | ¥6.8M | ¥7.1M |
| Average age (parent company) | 45.6 years | 45.7 years | 45.5 years | 46.9 years | 44.0 years |
| Average tenure (parent company) | 20.0 years | 19.9 years | 18.9 years | 17.4 years | 17.5 years |

Year over year: Employees (consolidated) -19.0% · Revenue (consolidated) -34.1%

## 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 | -8,898 | -11.1% | S100YI8X |
| Capital expenditure | 4,915 | 6.1% | S100YI8X |
| Free cash flow | -13,813 | -17.2% | 算出 |
| Investing cash flow | -10,279 | -12.8% | S100YI8X |
| Financing cash flow | -7,040 | -8.8% | S100YI8X |
| Dividends paid | 2 | 0.0% | S100YI8X |
| Share buyback | 23,471 | 29.3% | S100YI8X |
| Change in cash | -25,903 | -32.3% | S100YI8X |
| Cash and equivalents | 34,840 | 43.5% | S100YI8X |

## 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 | 57,444 | 63,814 | 48,115 | 60,744 | 34,840 | S100TOEF, S100W51U, S100YI8X |
| Total assets | 244,732 | 301,951 | 383,591 | 259,067 | 239,456 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Net assets | 137,404 | 173,195 | 198,619 | 147,928 | 119,965 | S100TOEF, S100W51U, S100YI8X |
| Share capital | 20,896 | 20,896 | 20,896 | 20,896 | 20,896 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Trade receivables | 35,617 | 40,027 | 34,201 | 20,329 | 16,755 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Property, plant and equipment | 74,587 | 88,532 | 111,792 | 51,056 | 52,266 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Intangible assets excluding goodwill | 8,146 | 11,242 | 72,466 | 1,368 | 2,323 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Goodwill | 1,954 | 2,909 | 29,613 | 809 | 1,621 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Investment securities | 2,484 | 5,603 | 3,029 | 15,632 | 16,345 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Current assets | 148,729 | 179,069 | 173,353 | 136,955 | 108,872 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Current liabilities | 52,477 | 83,496 | 86,725 | 54,363 | 66,715 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Trade payables | 17,916 | 20,160 | 12,186 | 5,888 | 4,542 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Short-term borrowings | 10,681 | 12,579 | 26,422 | 9,972 | 28,244 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Long-term borrowings | 43,015 | 26,372 | 74,581 | 25,336 | 26,369 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Bonds | 5,000 | 12,000 | 15,000 | 10,000 | 10,000 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Interest-bearing debt | 58,696 | 50,951 | 116,003 | 45,308 | 64,613 | 算出 |
| Total liabilities | 107,327 | 128,755 | 184,971 | 111,138 | 119,491 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Non-controlling interests | 42,430 | 62,101 | 79,244 | 495 | — | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Equity attributable to owners of parent | 88,624 | 100,261 | 91,788 | 135,481 | 102,210 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Retained earnings | 9,248 | 18,052 | 9,213 | 60,148 | 25,330 | S100QZYC, S100TOEF, S100W51U, S100YI8X |
| Treasury stock | -4,222 | -4,287 | -4,282 | -10,781 | -4,252 | S100QZYC, S100TOEF, S100W51U, S100YI8X |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YI8X |
| Receivables | 7% | S100YI8X |
| Property, plant and equipment | 22% | S100YI8X |
| Intangibles and goodwill | 2% | S100YI8X |
| Investment securities | 7% | S100YI8X |
| Other assets | 48% | S100YI8X |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 2% | S100YI8X |
| Interest-bearing debt | 27% | 算出 |
| Other liabilities | 21% | S100YI8X |
| Equity | 50% | S100YI8X |

### 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 | 244,732 | 301,951 | 383,591 | 259,067 | 239,456 |
| Equity | 137,404 | 173,195 | 198,619 | 147,928 | 119,965 |
| Interest-bearing debt | 58,696 | 50,951 | 116,003 | 45,308 | 64,613 |
| Cash | 57,444 | 63,814 | 48,115 | 60,744 | 34,840 |

## 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) | 65.2% | S100YI8X |
| Fixed assets ÷ total assets | 21.8% | S100YI8X |
| Goodwill ÷ parent equity | 1.6% | S100YI8X |

Goodwill over 4 years: 1,954 → 1,621 JPY; total investing cash flow: -41,616 JPY. This does not imply causation.

### 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) | 14.5% |
| Cash ÷ revenue | 43.5% |
| Net cash (cash − interest-bearing debt) | -¥29.8B |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 900 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 6.1% |
| Investing CF relative to operating CF | — |

## 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 | 1.8% | 0.72× | 1.3% | 2.76× | 3.6% | S100QZYC |
| 2023 | 4.2% | 0.82× | 3.5% | 2.89× | 10.1% | S100TOEF |
| 2024 | — | —× | -2.4% | —× | — | S100W51U |
| 2025 | 41.9% | 0.38× | 15.9% | 2.83× | 44.8% | S100YI8X |
| 2026 | — | —× | -3.9% | —× | — | S100YI8X |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ゴールドマン・サックス・インターナショナル（常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 14.6% | 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 | 8.4% | 2026-03-31 |
| CGML PB CLIENT ACCOUNT/COLLATERAL（常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 6.7% | 2026-03-31 |
| イーシーエム エムエフ（常任代理人 立花証券株式会社） | Major shareholder | 5.6% | 2026-03-31 |
| エムエルアイ フォー セグリゲーティッド ピービ― クライアント（常任代理人 ＢＯＦＡ証券株式会社） | Major shareholder | 5.0% | 2026-03-31 |
| エムエルアイ フォークライアントジェネラル オムニノンコラテラルノントリーティーピービ―（常任代理人 ＢＯＦＡ証券株式会社） | Major shareholder | 4.8% | 2026-03-31 |
| 株式会社埼玉りそな銀行 | Major shareholder | 4.7% | 2026-03-31 |
| JPMSPLC CLIENT ASSETS SK JPY（常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 4.6% | 2026-03-31 |
| サンテラ（ケイマン）リミテッド アズ トラスティ オブ イーシーエム マスター ファンド（常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 4.5% | 2026-03-31 |
| ゴールドマン・サックス・アンド・カンパニーレギュラーアカウント（常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 2.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第109期(2025/04/01－2026/03/31) | S100YI8X | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI8X,, |
| 有価証券報告書－第108期(2024/04/01－2025/03/31) | S100W51U | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W51U,, |
| 有価証券報告書－第107期(2023/04/01－2024/03/31) | S100TOEF | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TOEF,, |
| 有価証券報告書－第106期(2022/04/01－2023/03/31) | S100QZYC | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZYC,, |
| 有価証券報告書－第105期(令和3年4月1日－令和4年3月31日) | S100OAT9 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OAT9,, |
| 有価証券報告書－第104期(令和2年4月1日－令和3年3月31日) | S100LNZH | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNZH,, |

## 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).