# SANKI SERVICE CORPORATION: business model and financials

> Latest period: FY ending May 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第49期(2025/06/01－2026/05/31) (S100YYT4)
> Page: https://vizora.meequs.com/en/company/sanki-service
> Retrieved: 2026-09-30T19:50:40.384Z

## Company

Sanki Service, founded in 1976, is a company in Plant Engineering & Building Services listed on TSE Standard. It has 631 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SANKI SERVICE CORPORATION |
| Ticker | 6044 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6044.T) |
| Listing | TSE Standard |
| Head office | 兵庫県姫路市阿保甲576番地1 |
| Representative (per filing) | 代表取締役社長 北越 達男 |
| Founded | Oct 1976 |
| Share capital | ¥616.7M |
| Employees (consolidated) | 631 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | May |
| Website | www.sanki-s.co.jp (https://www.sanki-s.co.jp/) |
| Corporate number | 3140001059036 |
| EDINET | E31379 |
| Industries (Vizora) | Plant Engineering & Building Services |

> Profile source: annual securities report (S100YYT4, filed 2026-08-27). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-05-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 92.4 | 72 |
| Profitability | 15.1 | 76 |
| Cash conversion | 14.2 | 74 |
| Efficiency | 98 | 76 |

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 89% of Sanki Service's sales come from Maintenance services, with Construction-related Products and Services making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +17.5% from the prior year, operating profit +14.6%.

## Company structure

- Segment revenue mix: Maintenance services 89.3%、Construction-related Products and Services 10.7%
- Revenue → net income: ¥24253454000 → ¥853361000
- Net income → operating cash flow: ¥853361000 → ¥240837000（difference ¥-612524000）
- Main uses of operating cash flow: CapEx ¥106715000 / dividends ¥161044000 / buybacks —
- Change in cash: ¥-155924000
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 | ¥24.3B |  |
| Operating income | ¥1.17B | Margin 4.8% |
| Net income | ¥853.4M | Margin 3.5% |
| Free cash flow | ¥134.1M |  |
| Largest business | Maintenance services | of segment revenue 89.3% |
| Employees (consolidated) | 631 |  |
| EPS | ¥117.43 |  |
| Book value per share | ¥819.12 |  |
| Equity ratio | 55.5% |  |
| Shares outstanding | 6,583,485 |  |
| Treasury shares | 130,700 |  |
| Shareholders | 5,914 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 17.6% | Cash ÷ revenue 7.4% |
| Vs. industry median margin | -4.2 pp | Plant Engineering & Building Services |
| ROE | 16.8% | Derived from disclosed figures |
| ROA | 8.5% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 2.1× its level five years ago
- FY2026, one segment accounts for 91% of positive segment profit

## What changed in 5 years

| Metric | FY ending May 2021 | FY ending May 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥11525334000 | ¥24253454000 | +110.4% |
| Operating income | ¥288853000 | ¥1170142000 | +305.1% |
| Operating margin | 2.5% | 4.8% | +2.3 pp |
| Employees | 354 people | 631 people | +78.2% |
| Cash and equivalents | ¥1645307000 | ¥1786182000 | +8.6% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → メンテナンス事業 | 89.3% |
| 新設・再編 → 建設関連製品サービス事業 | 10.7% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 24,253 | 100.0% | S100YYT4 |
| Cost of revenue | 19,187 | 79.1% | S100YYT4 |
| Gross profit | 5,067 | 20.9% | S100YYT4 |
| SG&A | 3,897 | 16.1% | S100YYT4 |
| Operating income | 1,170 | 4.8% | S100YYT4 |
| Ordinary income | 1,174 | 4.8% | S100YYT4 |
| Pretax income | 1,175 | 4.8% | S100YYT4 |
| Income tax | 321 | 1.3% | S100YYT4 |
| Net income | 853 | 3.5% | S100YYT4 |
| Net income attributable to owners | 853 | 3.5% | S100YYT4 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 79 |
| SG&A | 16 |
| Operating income | 5 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 20.9% → Operating margin 4.8% → Net margin 3.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.5%; Core profit growth: +14.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.84×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 20,636 | 24,253 | 3,617 | +17.5% |
| Gross profit | 4,694 | 5,067 | 373 | +7.9% |
| Operating income | 1,021 | 1,170 | 149 | +14.6% |
| Net income attributable to owners | 689 | 853 | 164 | +23.8% |
| Operating cash flow | 865 | 241 | -624 | -72.1% |
| Free cash flow | 814 | 134 | -680 | -83.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2020 | 11,679 | 407 | 3.5% | 273 | 162 | 51 | S100MD02 |
| FY ending May 2021 | 11,525 | 289 | 2.5% | 176 | 666 | 577 | S100P3CP |
| FY ending May 2022 | 11,582 | 221 | 1.9% | 154 | 60 | 30 | S100RRJW |
| FY ending May 2023 | 14,734 | 575 | 3.9% | 453 | -1,067 | -1,080 | S100UAIL |
| FY ending May 2024 | 19,431 | 737 | 3.8% | 468 | 1,039 | 945 | S100WLAF |
| FY ending May 2025 | 20,636 | 1,021 | 4.9% | 689 | 865 | 814 | S100YYT4 |
| FY ending May 2026 | 24,253 | 1,170 | 4.8% | 853 | 241 | 134 | S100YYT4 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥38.4M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.4M |

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

| History | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 366 | 456 | 535 | 599 | 631 |
| Average salary (parent company) | ¥5.6M | ¥5.5M | ¥5.9M | ¥5.6M | ¥5.8M |
| Average age (parent company) | 41.8 years | 41.2 years | 40.1 years | 39.3 years | 39.5 years |
| Average tenure (parent company) | 10.6 years | 8.7 years | 7.3 years | 7.3 years | 7.2 years |

Year over year: Employees (consolidated) +5.3% · Revenue (consolidated) +17.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Maintenance services | 21,670 | 89.3% | 1,070 | 4.9% |
| Construction-related Products and Services | 2,583 | 10.7% | 103 | 4.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Maintenance services | 89.3% | 91.2% | 1.8 | 4.9% |
| Construction-related Products and Services | 10.7% | 8.8% | -1.8 | 4.0% |

Segment → industry: Construction-related Products and Services → Plant Engineering & Building Services / Maintenance services → Plant Engineering & Building Services

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 241 | 1.0% | S100YYT4 |
| Capital expenditure | 107 | 0.4% | S100YYT4 |
| Free cash flow | 134 | 0.6% | 算出 |
| Investing cash flow | -100 | -0.4% | S100YYT4 |
| Financing cash flow | -304 | -1.3% | S100YYT4 |
| Dividends paid | 161 | 0.7% | S100YYT4 |
| Change in cash | -156 | -0.6% | S100YYT4 |
| Cash and equivalents | 1,786 | 7.4% | S100YYT4 |

## 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 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,525 | 999 | 1,477 | 1,942 | 1,786 | S100UAIL, S100WLAF, S100YYT4 |
| Total assets | 5,081 | 8,353 | 8,613 | 9,948 | 10,152 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Net assets | 3,017 | 3,834 | 4,214 | 4,813 | 5,630 | S100UAIL, S100WLAF, S100YYT4 |
| Share capital | 617 | 617 | 617 | 617 | 617 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Property, plant and equipment | 312 | 551 | 700 | 687 | 738 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Intangible assets excluding goodwill | 271 | 183 | 143 | 89 | 106 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Goodwill | — | — | 28 | 22 | 16 | S100WLAF, S100YYT4 |
| Investment securities | 105 | 198 | 270 | 308 | 478 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Current assets | 4,055 | 6,952 | 7,034 | 8,368 | 8,320 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Current liabilities | 1,551 | 3,576 | 3,521 | 4,454 | 3,937 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Short-term borrowings | — | 65 | 81 | 85 | 88 | S100UAIL, S100WLAF, S100YYT4 |
| Long-term borrowings | 206 | 549 | 412 | 239 | 123 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Total liabilities | 2,064 | 4,519 | 4,398 | 5,135 | 4,522 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Equity attributable to owners of parent | 3,020 | 3,834 | 4,164 | 4,737 | 5,442 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Retained earnings | 1,914 | 2,278 | 2,598 | 3,158 | 3,851 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |
| Treasury stock | -15 | -142 | -132 | -119 | -106 | S100RRJW, S100UAIL, S100WLAF, S100YYT4 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 18% | S100YYT4 |
| Property, plant and equipment | 7% | S100YYT4 |
| Intangibles and goodwill | 1% | S100YYT4 |
| Investment securities | 5% | S100YYT4 |
| Other assets | 69% | S100YYT4 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 45% | S100YYT4 |
| Equity | 55% | S100YYT4 |
| Other liabilities | 0% | S100YYT4 |

### Balance sheet history

| Metric | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 5,081 | 8,353 | 8,613 | 9,948 | 10,152 |
| Equity | 3,017 | 3,834 | 4,214 | 4,813 | 5,630 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,525 | 999 | 1,477 | 1,942 | 1,786 |

## 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) | 3.0% | S100YYT4 |
| Fixed assets ÷ total assets | 7.3% | S100YYT4 |
| Goodwill ÷ parent equity | 0.3% | S100YYT4 |

### 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) | 17.6% |
| Cash ÷ revenue | 7.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 20.6% |
| Cash vs. profit gap | -613 JPY mn (of net income -71.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 18.9% |
| Shareholder payments — dividends / FCF | 120.1% |
| CapEx intensity (capex ÷ revenue) | 0.4% |
| Investing CF relative to operating CF | 41.4% |

## 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 | 1.3% | 2.28× | 3.0% | 1.68× | 5.1% | S100RRJW |
| 2023 | 3.1% | 2.19× | 6.7% | 1.96× | 13.2% | S100UAIL |
| 2024 | 2.4% | 2.29× | 5.5% | 2.12× | 11.7% | S100WLAF |
| 2025 | 3.3% | 2.22× | 7.4% | 2.09× | 15.5% | S100YYT4 |
| 2026 | 3.5% | 2.41× | 8.5% | 1.97× | 16.8% | S100YYT4 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社中島産業 | Major shareholder | 15.1% | 2026-05-31 |
| シンメンテホールディングス株式会社 | Major shareholder | 9.8% | 2026-05-31 |
| ＵＨＰａｒｔｎｅｒｓ２投資事業有限責任組合 | Major shareholder | 6.9% | 2026-05-31 |
| 中島 義兼 | Major shareholder | 6.6% | 2026-05-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 5.9% | 2026-05-31 |
| 中島 諒子 | Major shareholder | 5.3% | 2026-05-31 |
| ＵＨＰａｒｔｎｅｒｓ３投資事業有限責任組合 | Major shareholder | 4.0% | 2026-05-31 |
| 中島 悠希 | Major shareholder | 3.6% | 2026-05-31 |
| 三機サービス従業員持株会 | Major shareholder | 3.5% | 2026-05-31 |
| 中島 薫子 | Major shareholder | 3.5% | 2026-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第49期(2025/06/01－2026/05/31) | S100YYT4 | 2026-08-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YYT4,, |
| 有価証券報告書－第48期(2024/06/01－2025/05/31) | S100WLAF | 2025-08-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WLAF,, |
| 有価証券報告書－第47期(2023/06/01－2024/05/31) | S100UAIL | 2024-08-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UAIL,, |
| 有価証券報告書－第46期(2022/06/01－2023/05/31) | S100RRJW | 2023-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RRJW,, |
| 有価証券報告書－第45期(令和3年6月1日－令和4年5月31日) | S100P3CP | 2022-08-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P3CP,, |
| 有価証券報告書－第44期(令和2年6月1日－令和3年5月31日) | S100MD02 | 2021-08-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MD02,, |

## 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).