# Sintokogio,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129期(2025/04/01－2026/03/31) (S100YE4V)
> Page: https://vizora.meequs.com/en/company/sintokogio
> Retrieved: 2026-09-30T21:36:01.135Z

## Company

Sintokogio, founded in 1934, is a company in Industrial Machinery listed on TSE Prime. It has 4,760 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Sintokogio,Ltd. |
| Ticker | 6339 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6339.T) |
| Listing | TSE Prime |
| Head office | 名古屋市中村区名駅三丁目28番12号 |
| Representative (per filing) | 代表取締役社長執行役員 永井 淳 |
| Founded | Oct 1934 |
| Share capital | ¥5.75B |
| Employees (consolidated) | 4,760 |
| Average salary (parent only) | ¥6.7M |
| Fiscal year end | March |
| Website | www.sinto.co.jp (https://www.sinto.co.jp/) |
| Corporate number | 5180001030627 |
| EDINET | E01541 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YE4V, filed 2026-06-19). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 95 | 110 |
| Profitability | 11.9 | 122 |
| Cash conversion | 83.2 | 116 |
| Efficiency | 57 | 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 55% of Sintokogio's sales come from Surface treatment, with Foundry and Environment Equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +17.3% from the prior year, operating profit +27.5%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥176.2B |  |
| Operating income | ¥3.83B | Margin 2.2% |
| Net income | -¥16.3B | Margin -9.2% |
| Free cash flow | ¥59M |  |
| Largest business | Surface treatment | of segment revenue 54.8% |
| Employees (consolidated) | 4,760 |  |
| EPS | ¥-504.64 |  |
| Book value per share | ¥1098.83 |  |
| Equity ratio | 48.9% |  |
| Shares outstanding | 54,580,000 |  |
| Treasury shares | 1,899,200 |  |
| Shareholders | 52,447 |  |
| Average salary (parent only) | ¥6.7M | Filing company only |
| Cash ratio | 13.7% | Cash ÷ revenue 17.7% |
| Vs. industry median margin | -5.4 pp | Industrial Machinery |
| ROA | -7.0% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by -36 points
- FY2026, employees -2% while operating income rose 28%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥82544000000 | ¥176178000000 | +113.4% |
| Operating income | ¥1718000000 | ¥3831000000 | +123.0% |
| Operating margin | 2.1% | 2.2% | +0.1 pp |
| Employees | 4,063 people | 4,760 people | +17.2% |
| Cash and equivalents | ¥42306000000 | ¥31223000000 | -26.2% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 表面処理事業 → 表面処理事業 | 41.3% |
| 鋳造事業 → 鋳造事業 | 29.0% |
| 鋳造事業 → 事業再編・廃止 | 1.4% |
| 環境事業 → 環境事業 | 7.5% |
| 環境事業 → 事業再編・廃止 | 5.8% |
| 搬送事業 → 搬送事業 | 4.6% |
| 搬送事業 → 事業再編・廃止 | 3.1% |
| 特機事業 → 特機事業 | 4.0% |
| 特機事業 → 事業再編・廃止 | 3.2% |
| その他 → その他 | 0.2% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 表面処理事業 | 13.5% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Surface treatment | 5 years | +23.1% | ¥96491000000 | 1.1% | 2 |
| Foundry | 5 years | +15.3% | ¥51007000000 | 3.8% | 2 |
| Environment Equipment | 5 years | +3.8% | ¥13196000000 | 13.3% | 2 |
| Material Handling | 5 years | +4.9% | ¥8080000000 | 11.1% | 2 |
| Special Equipment | 5 years | +3.7% | ¥7123000000 | -14.0% | 2 |
| Other | 5 years | +13.4% | ¥279000000 | 34.8% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 176,178 | 100.0% | S100YE4V |
| Cost of revenue | 125,329 | 71.1% | S100YE4V |
| Gross profit | 50,849 | 28.9% | S100YE4V |
| SG&A | 47,017 | 26.7% | S100YE4V |
| Operating income | 3,831 | 2.2% | S100YE4V |
| Ordinary income | 3,364 | 1.9% | S100YE4V |
| Pretax income | -14,329 | -8.1% | S100YE4V |
| Income tax | 1,444 | 0.8% | S100YE4V |
| Net income | -15,773 | -9.0% | S100YE4V |
| Net income attributable to owners | -16,262 | -9.2% | S100YE4V |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 27 |
| Operating income | 2 |
| (Ref.) Net income | -9 |

### Margin funnel

Gross margin 28.9% → Operating margin 2.2% → Net margin -9.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.3%; Core profit growth: +27.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.59×
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 | 150,224 | 176,178 | 25,954 | +17.3% |
| Gross profit | 42,714 | 50,849 | 8,135 | +19.0% |
| Operating income | 3,004 | 3,831 | 827 | +27.5% |
| Net income attributable to owners | 2,757 | -16,262 | -19,019 | -689.8% |
| Operating cash flow | 2,352 | 8,843 | 6,491 | +276.0% |
| Free cash flow | -3,449 | 59 | 3,508 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 102,703 | 4,734 | 4.6% | 2,879 | 5,075 | 1,193 | S100LLP3 |
| FY ending Mar 2021 | 82,544 | 1,718 | 2.1% | 606 | 8,088 | 4,581 | S100OA2F |
| FY ending Mar 2022 | 99,247 | 2,606 | 2.6% | 2,835 | 4,091 | 1,145 | S100QZDF |
| FY ending Mar 2023 | 106,381 | 2,242 | 2.1% | 6,187 | 5,491 | 1,864 | S100TO92 |
| FY ending Mar 2024 | 115,495 | 5,409 | 4.7% | 8,706 | 5,937 | 2,413 | S100W29W |
| FY ending Mar 2025 | 150,224 | 3,004 | 2.0% | 2,757 | 2,352 | -3,449 | S100YE4V |
| FY ending Mar 2026 | 176,178 | 3,831 | 2.2% | -16,262 | 8,843 | 59 | S100YE4V |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37M |
| Operating income per employee (consolidated) | ¥804.8K |
| Net income per employee (consolidated) | -¥3.4M |

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) | 4,042 | 3,986 | 3,963 | 4,844 | 4,760 |
| Average salary (parent company) | ¥5.9M | ¥5.8M | ¥6.2M | ¥6.5M | ¥6.7M |
| Average age (parent company) | 40.4 years | 40.8 years | 41.1 years | 41.2 years | 41.0 years |
| Average tenure (parent company) | 16.6 years | 17.1 years | 17.3 years | 17.4 years | 16.6 years |

Year over year: Employees (consolidated) -1.7% · Revenue (consolidated) +17.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Surface treatment | 96,491 | 54.8% | 1,098 | 1.1% |
| Foundry | 51,007 | 29.0% | 1,932 | 3.8% |
| Environment Equipment | 13,196 | 7.5% | 1,749 | 13.3% |
| Material Handling | 8,080 | 4.6% | 894 | 11.1% |
| Special Equipment | 7,123 | 4.0% | -995 | -14.0% |
| Other | 279 | 0.2% | 97 | 34.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Surface treatment | 54.8% | 19.0% | -35.7 | 1.1% |
| Foundry | 29.0% | 33.5% | 4.5 | 3.8% |
| Environment Equipment | 7.5% | 30.3% | 22.8 | 13.3% |
| Material Handling | 4.6% | 15.5% | 10.9 | 11.1% |
| Special Equipment | 4.0% | — | — | -14.0% |
| Other | 0.2% | 1.7% | 1.5 | 34.8% |

Loss-making segment (excluded from profit shares): Special Equipment -995 JPY mn

Segment → industry: Special Equipment → Industrial Machinery / Material Handling → Industrial Machinery / Environment Equipment → Industrial Machinery / Foundry → Industrial Machinery / Surface treatment → 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 | 8,843 | 5.0% | S100YE4V |
| Capital expenditure | 8,784 | 5.0% | S100YE4V |
| Free cash flow | 59 | 0.0% | 算出 |
| Investing cash flow | -4,081 | -2.3% | S100YE4V |
| Financing cash flow | -6,024 | -3.4% | S100YE4V |
| Dividends paid | 2,313 | 1.3% | S100YE4V |
| Share buyback | 0 | 0.0% | S100YE4V |
| Change in cash | -833 | -0.5% | S100YE4V |
| Cash and equivalents | 31,223 | 17.7% | S100YE4V |

## 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 | 42,964 | 40,658 | 43,579 | 32,056 | 31,223 | S100TO92, S100W29W, S100YE4V |
| Total assets | 168,586 | 171,367 | 187,963 | 236,764 | 227,360 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Net assets | 109,641 | 111,755 | 127,140 | 127,125 | 118,830 | S100TO92, S100W29W, S100YE4V |
| Share capital | 5,752 | 5,752 | 5,752 | 5,752 | 5,752 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Property, plant and equipment | 28,398 | 29,825 | 31,358 | 52,238 | 56,629 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Intangible assets excluding goodwill | 1,961 | 1,480 | 1,684 | 24,201 | 3,683 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Goodwill | 232 | 60 | 26 | 12,349 | 440 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Investment securities | 33,957 | 27,581 | 34,226 | 32,985 | 34,983 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Current assets | 96,828 | 106,203 | 111,801 | 119,723 | 119,905 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Current liabilities | 42,539 | 39,710 | 41,888 | 54,145 | 50,806 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Trade payables | 15,480 | 14,679 | 13,599 | 15,332 | 14,032 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Short-term borrowings | 12,264 | 2,125 | 5,473 | 10,287 | 7,932 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Long-term borrowings | 7,222 | 12,831 | 8,971 | 38,841 | 40,776 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Total liabilities | 58,944 | 59,612 | 60,822 | 109,638 | 108,529 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Non-controlling interests | 5,547 | 5,975 | 6,571 | 7,506 | 7,753 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Equity attributable to owners of parent | 90,183 | 94,350 | 100,897 | 99,763 | 81,233 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Retained earnings | 79,622 | 84,369 | 90,870 | 89,808 | 71,229 | S100QZDF, S100TO92, S100W29W, S100YE4V |
| Treasury stock | -1,501 | -2,082 | -2,044 | -1,990 | -1,932 | S100QZDF, S100TO92, S100W29W, S100YE4V |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YE4V |
| Property, plant and equipment | 25% | S100YE4V |
| Intangibles and goodwill | 2% | S100YE4V |
| Investment securities | 15% | S100YE4V |
| Other assets | 44% | S100YE4V |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YE4V |
| Other liabilities | 42% | S100YE4V |
| Equity | 52% | S100YE4V |
| Other liabilities | 0% | S100YE4V |

### 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 | 168,586 | 171,367 | 187,963 | 236,764 | 227,360 |
| Equity | 109,641 | 111,755 | 127,140 | 127,125 | 118,830 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 42,964 | 40,658 | 43,579 | 32,056 | 31,223 |

## 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) | 32.1% | S100YE4V |
| Fixed assets ÷ total assets | 24.9% | S100YE4V |
| Goodwill ÷ parent equity | 0.5% | S100YE4V |

Goodwill over 4 years: 232 → 440 JPY; total investing cash flow: -37,962 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) | 13.7% |
| Cash ÷ revenue | 17.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 230.8% |
| Cash vs. profit gap | 25,105 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | 3920.3% |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | 3920.3% |
| CapEx intensity (capex ÷ revenue) | 5.0% |
| Investing CF relative to operating CF | 46.1% |

## 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 | 2.9% | 0.59× | 1.7% | 1.87× | 3.1% | S100QZDF |
| 2023 | 5.8% | 0.63× | 3.6% | 1.84× | 6.7% | S100TO92 |
| 2024 | 7.5% | 0.64× | 4.8% | 1.84× | 8.9% | S100W29W |
| 2025 | 1.8% | 0.71× | 1.3% | 2.12× | 2.7% | S100YE4V |
| 2026 | — | —× | -7.0% | —× | — | S100YE4V |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.4% | 2026-03-31 |
| 明治安田生命保険相互会社 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 4.3% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 3.8% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 3.2% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103 （常任代理人 株式会社みずほ銀行） | Major shareholder | 3.1% | 2026-03-31 |
| 公益財団法人永井科学技術財団 | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.7% | 2026-03-31 |
| 新東社員持株会 | Major shareholder | 2.4% | 2026-03-31 |
| 新東ものづくり持株会 | Major shareholder | 2.4% | 2026-03-31 |
| 三菱ＵＦＪ信託銀行株式会社 （常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第129期(2025/04/01－2026/03/31) | S100YE4V | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YE4V,, |
| 有価証券報告書－第128期(2024/04/01－2025/03/31) | S100W29W | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W29W,, |
| 有価証券報告書－第127期(2023/04/01－2024/03/31) | S100TO92 | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TO92,, |
| 有価証券報告書－第126期(2022/04/01－2023/03/31) | S100QZDF | 2023-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZDF,, |
| 有価証券報告書－第125期(令和3年4月1日－令和4年3月31日) | S100OA2F | 2022-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OA2F,, |
| 有価証券報告書－第124期(令和2年4月1日－令和3年3月31日) | S100LLP3 | 2021-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLP3,, |

## 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).