# SHIMA SEIKI MFG., 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65期(2025/04/01－2026/03/31) (S100YIO7)
> Page: https://vizora.meequs.com/en/company/shima-seiki-mfg
> Retrieved: 2026-09-30T21:47:11.275Z

## Company

Shima Seiki MFG., founded in 1961, is a company in Industrial Machinery listed on TSE Prime. It has 1,654 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SHIMA SEIKI MFG.,LTD. |
| Ticker | 6222 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6222.T) |
| Listing | TSE Prime |
| Head office | 和歌山県和歌山市坂田85番地 |
| Representative (per filing) | 代表取締役社長 島 三博 |
| Founded | Jul 1961 |
| Share capital | ¥14.9B |
| Employees (consolidated) | 1,654 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.shimaseiki.co.jp (https://www.shimaseiki.co.jp/) |
| Corporate number | 2170001001508 |
| EDINET | E01531 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YIO7, filed 2026-06-24). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 47.7 | 110 |
| Profitability | 2 | 122 |
| Efficiency | 0.4 | 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 71% of Shima Seiki MFG.'s sales come from Flat knitting machine, with Other and Design system related making up much of the rest.
- It lost about ¥5 for every ¥100 of sales at the operating level.
- Revenue changed +3.0% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥33.5B |  |
| Operating income | -¥1.72B | Margin -5.1% |
| Net income | ¥856M | Margin 2.6% |
| Free cash flow | -¥888M |  |
| Largest business | Flat knitting machine | of segment revenue 71.2% |
| Employees (consolidated) | 1,654 |  |
| EPS | ¥-40.1 |  |
| Diluted EPS | ¥25.23 |  |
| Book value per share | ¥1707.12 |  |
| Equity ratio | 75.2% |  |
| Shares outstanding | 34,800,000 |  |
| Treasury shares | 880,300 |  |
| Shareholders | 19,670 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 14.3% | Cash ÷ revenue 46.6% |
| Vs. industry median margin | -12.7 pp | Industrial Machinery |
| ROE | 1.3% | Derived from disclosed figures |
| ROA | 0.8% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.9× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥24489000000 | ¥33509000000 | +36.8% |
| Operating income | ¥-9143000000 | ¥-1720000000 | — |
| Operating margin | -37.3% | -5.1% | +32.2 pp |
| Employees | 1,919 people | 1,654 people | -13.8% |
| Cash and equivalents | ¥25582000000 | ¥15617000000 | -39.0% |

### 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 |
| --- | ---: |
| 横編機 → 横編機 | 63.5% |
| デザインシステム関連 → デザインシステム関連 | 9.1% |
| デザインシステム関連 → 事業再編・廃止 | 1.2% |
| 手袋靴下編機 → 手袋靴下編機 | 1.6% |
| 手袋靴下編機 → 事業再編・廃止 | 6.5% |
| その他 → その他 | 18.2% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 横編機 | 7.7% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Flat knitting machine | 5 years | +8.9% | ¥23866000000 | 10.7% | 2 |
| Other | 5 years | +6.4% | ¥6084000000 | 17.2% | 2 |
| Design system related | 5 years | +3.9% | ¥3036000000 | 22.1% | 2 |
| Gloves and socks knitting machine | 5 years | -23.3% | ¥521000000 | 14.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 33,509 | 100.0% | S100YIO7 |
| Cost of revenue | 21,611 | 64.5% | S100YIO7 |
| Gross profit | 11,897 | 35.5% | S100YIO7 |
| SG&A | 13,617 | 40.6% | S100YIO7 |
| Operating income | -1,720 | -5.1% | S100YIO7 |
| Ordinary income | 288 | 0.9% | S100YIO7 |
| Pretax income | 1,109 | 3.3% | S100YIO7 |
| Income tax | 250 | 0.7% | S100YIO7 |
| Net income | 859 | 2.6% | S100YIO7 |
| Net income attributable to owners | 856 | 2.6% | S100YIO7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 41 |
| Operating income | -5 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 35.5% → Operating margin -5.1% → Net margin 2.6%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 32,520 | 33,509 | 989 | +3.0% |
| Gross profit | 8,633 | 11,897 | 3,264 | +37.8% |
| Operating income | -11,914 | -1,720 | 10,194 | — |
| Net income attributable to owners | -14,275 | 856 | 15,131 | — |
| Operating cash flow | -4,461 | 408 | 4,869 | — |
| Free cash flow | -5,866 | -888 | 4,978 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 33,206 | -5,602 | -16.9% | -8,427 | 3,776 | 1,253 | S100M5FF |
| FY ending Mar 2021 | 24,489 | -9,143 | -37.3% | -17,866 | 5,937 | 4,804 | S100OK4B |
| FY ending Mar 2022 | 30,998 | -4,268 | -13.8% | -3,589 | 6,196 | 4,934 | S100R8Y9 |
| FY ending Mar 2023 | 37,886 | -2,184 | -5.8% | -5,644 | -7,178 | -8,183 | S100TVDL |
| FY ending Mar 2024 | 35,910 | 430 | 1.2% | 1,030 | -4,120 | -4,835 | S100W7CP |
| FY ending Mar 2025 | 32,520 | -11,914 | -36.6% | -14,275 | -4,461 | -5,866 | S100YIO7 |
| FY ending Mar 2026 | 33,509 | -1,720 | -5.1% | 856 | 408 | -888 | S100YIO7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥20.3M |
| Operating income per employee (consolidated) | -¥1M |
| Net income per employee (consolidated) | ¥517.5K |

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) | 1,867 | 1,817 | 1,789 | 1,762 | 1,654 |
| Average salary (parent company) | ¥5.6M | ¥6.2M | ¥5.6M | ¥6.4M | ¥6M |
| Average age (parent company) | 43.1 years | 44.1 years | 44.5 years | 44.7 years | 45.5 years |
| Average tenure (parent company) | 20.1 years | 20.9 years | 21.3 years | 21.6 years | 22.3 years |

Year over year: Employees (consolidated) -6.1% · Revenue (consolidated) +3.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Flat knitting machine | 23,866 | 71.2% | 2,559 | 10.7% |
| Design system related | 3,036 | 9.1% | 671 | 22.1% |
| Gloves and socks knitting machine | 521 | 1.6% | 76 | 14.6% |
| Other | 6,084 | 18.2% | 1,048 | 17.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Flat knitting machine | 71.2% | 58.8% | -12.5 | 10.7% |
| Design system related | 9.1% | 15.4% | 6.4 | 22.1% |
| Gloves and socks knitting machine | 1.6% | 1.7% | 0.2 | 14.6% |
| Other | 18.2% | 24.1% | 5.9 | 17.2% |

Segment → industry: Gloves and socks knitting machine → Industrial Machinery / Design system related → Industrial Machinery / Flat knitting machine → Industrial Machinery

## 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 | 408 | 1.2% | S100YIO7 |
| Capital expenditure | 1,296 | 3.9% | S100YIO7 |
| Free cash flow | -888 | -2.7% | 算出 |
| Investing cash flow | -1,468 | -4.4% | S100YIO7 |
| Financing cash flow | 5,470 | 16.3% | S100YIO7 |
| Dividends paid | 507 | 1.5% | S100YIO7 |
| Share buyback | 949 | 2.8% | S100YIO7 |
| Change in cash | 5,253 | 15.7% | S100YIO7 |
| Cash and equivalents | 15,617 | 46.6% | S100YIO7 |

## 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 | 24,271 | 15,517 | 12,809 | 10,363 | 15,617 | S100TVDL, S100W7CP, S100YIO7 |
| Total assets | 101,809 | 101,040 | 107,804 | 99,405 | 109,531 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Net assets | 88,795 | 86,107 | 91,926 | 77,740 | 82,382 | S100TVDL, S100W7CP, S100YIO7 |
| Share capital | 14,859 | 14,859 | 14,859 | 14,859 | 14,859 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Property, plant and equipment | 16,250 | 14,797 | 15,066 | 14,186 | 14,263 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Intangible assets excluding goodwill | 2,114 | 96 | 152 | 78 | 168 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Goodwill | 1,967 | — | — | — | — | S100R8Y9 |
| Investment securities | 5,417 | 4,736 | 5,493 | 6,115 | 6,594 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Current assets | 74,536 | 77,958 | 84,019 | 74,205 | 82,842 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Current liabilities | 8,188 | 10,773 | 11,836 | 17,632 | 16,535 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Trade payables | 2,207 | 2,245 | — | — | — | S100R8Y9 |
| Short-term borrowings | — | 1,000 | 2,500 | 8,800 | 6,200 | S100TVDL, S100W7CP, S100YIO7 |
| Long-term borrowings | — | — | — | — | 6,667 | S100YIO7 |
| Total liabilities | 13,013 | 14,932 | 15,877 | 21,665 | 27,149 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Non-controlling interests | 17 | 19 | 21 | 25 | 29 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Equity attributable to owners of parent | 85,899 | 79,908 | 80,599 | 65,983 | 65,830 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Retained earnings | 51,541 | 45,551 | 46,236 | 31,615 | 31,099 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |
| Treasury stock | -3,925 | -3,926 | -3,919 | -3,912 | -1,852 | S100R8Y9, S100TVDL, S100W7CP, S100YIO7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YIO7 |
| Property, plant and equipment | 13% | S100YIO7 |
| Intangibles and goodwill | 0% | S100YIO7 |
| Investment securities | 6% | S100YIO7 |
| Other assets | 67% | S100YIO7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100YIO7 |
| Equity | 75% | S100YIO7 |

### 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 | 101,809 | 101,040 | 107,804 | 99,405 | 109,531 |
| Equity | 88,795 | 86,107 | 91,926 | 77,740 | 82,382 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 24,271 | 15,517 | 12,809 | 10,363 | 15,617 |

## 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) | 42.6% | S100YIO7 |
| Fixed assets ÷ total assets | 13.0% | S100YIO7 |
| Goodwill ÷ parent equity | — | —, S100YIO7 |

### 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) | 14.3% |
| Cash ÷ revenue | 46.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -448 JPY mn (of net income -52.3%) |
| Shareholder returns / net income | 170.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 59.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.9% |
| Investing CF relative to operating CF | 359.8% |

## 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 | — | —× | -3.5% | —× | — | S100R8Y9 |
| 2023 | — | —× | -5.6% | —× | — | S100TVDL |
| 2024 | 2.9% | 0.34× | 1.0% | 1.30× | 1.3% | S100W7CP |
| 2025 | — | —× | -13.8% | —× | — | S100YIO7 |
| 2026 | 2.6% | 0.32× | 0.8% | 1.59× | 1.3% | S100YIO7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 和島興産株式会社 | Major shareholder | 8.8% | 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 | 7.7% | 2026-03-31 |
| 株式会社紀陽銀行 | Major shareholder | 4.1% | 2026-03-31 |
| 島 正博 | Major shareholder | 3.1% | 2026-03-31 |
| 島 三博 | Major shareholder | 3.1% | 2026-03-31 |
| 株式会社三菱UFJ銀行 | Major shareholder | 2.6% | 2026-03-31 |
| 合同会社和光 | Major shareholder | 2.3% | 2026-03-31 |
| 梅田 千景 | Major shareholder | 1.9% | 2026-03-31 |
| 龍見 恭子 | Major shareholder | 1.7% | 2026-03-31 |
| 山田 都 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第65期(2025/04/01－2026/03/31) | S100YIO7 | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YIO7,, |
| 有価証券報告書－第64期(2024/04/01－2025/03/31) | S100W7CP | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7CP,, |
| 有価証券報告書－第63期(2023/04/01－2024/03/31) | S100TVDL | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVDL,, |
| 有価証券報告書－第62期(2022/04/01－2023/03/31) | S100R8Y9 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8Y9,, |
| 有価証券報告書－第61期(令和3年4月1日－令和4年3月31日) | S100OK4B | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OK4B,, |
| 訂正有価証券報告書－第60期(令和2年4月1日－令和3年3月31日) | S100M5FF | 2021-08-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100M5FF,, |

## 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).