# SOMAR CORPORATION: 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79期(2025/04/01－2026/03/31) (S100YI5G)
> Page: https://vizora.meequs.com/en/company/somar
> Retrieved: 2026-09-30T17:49:02.756Z

## Company

Somar, founded in 1948, is a company in Chemicals listed on TSE Standard. It has 464 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SOMAR CORPORATION |
| Ticker | 8152 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8152.T) |
| Listing | TSE Standard |
| Head office | 東京都中央区銀座四丁目11番2号 |
| Representative (per filing) | 代表取締役社長 曽谷 太 |
| Founded | Feb 1948 |
| Share capital | ¥5.12B |
| Employees (consolidated) | 464 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | March |
| Website | www.somar.co.jp (https://www.somar.co.jp/) |
| Corporate number | 9010001048632 |
| EDINET | E02673 |
| Industries (Vizora) | Chemicals, Food Ingredients |

> Profile source: annual securities report (S100YI5G, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Chemicals (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 90.1 | 96 |
| Profitability | 60.5 | 100 |
| Cash conversion | 14.1 | 96 |
| Efficiency | 85.5 | 100 |

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 72% of Somar's sales come from High-tech materials, with Environmental materials and Food Materials making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed +2.8% from the prior year, operating profit +1.3%.

## Company structure

- Segment revenue mix: High-tech materials 72.3%、Environmental materials 19.2%、Food Materials 8.3%、Other 0.2%
- Revenue → net income: ¥31200216000 → ¥1488479000
- Net income → operating cash flow: ¥1488479000 → ¥2042886000（difference ¥554407000）
- Main uses of operating cash flow: CapEx ¥985285000 / dividends ¥193312000 / buybacks ¥1786000
- Change in cash: ¥2334466000
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 | ¥31.2B |  |
| Operating income | ¥2.6B | Margin 8.3% |
| Net income | ¥1.49B | Margin 4.8% |
| Free cash flow | ¥1.06B |  |
| Largest business | High-tech materials | of segment revenue 72.3% |
| Employees (consolidated) | 464 |  |
| EPS | ¥221.08 |  |
| Book value per share | ¥6931.85 |  |
| Equity ratio | 63.4% |  |
| Shares outstanding | 1,958,000 |  |
| Treasury shares | 20,900 |  |
| Shareholders | 1,038 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 32.1% | Cash ÷ revenue 36.3% |
| Vs. industry median margin | +0.8 pp | Chemicals |
| ROE | 8.7% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 89% of positive segment profit
- FY2026, cash is 32% of total assets
- FY2026, employees -1% while operating income rose 1%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥19373390000 | ¥31200216000 | +61.0% |
| Operating income | ¥327526000 | ¥2604431000 | +695.2% |
| Operating margin | 1.7% | 8.3% | +6.7 pp |
| Employees | 447 people | 464 people | +3.8% |
| Cash and equivalents | ¥5472077000 | ¥11312750000 | +106.7% |

### 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 |
| --- | ---: |
| 高機能材料事業 → 高機能材料事業 | 72.3% |
| 高機能材料事業 → 事業再編・廃止 | 2.5% |
| 環境材料事業 → 環境材料事業 | 17.3% |
| 食品材料事業 → 食品材料事業 | 7.6% |
| その他 → その他 | 0.2% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 環境材料事業 | 1.9% |
| 新設・再編 → 食品材料事業 | 0.7% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| High-tech materials | 5 years | +9.3% | ¥22546328000 | 11.3% | 2 |
| Environmental materials | 5 years | +12.3% | ¥5987327000 | 3.3% | 2 |
| Food Materials | 5 years | +12.0% | ¥2589481000 | 4.9% | 2 |
| Other | 5 years | +4.8% | ¥77078000 | -35.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 31,200 | 100.0% | S100YI5G |
| Cost of revenue | 24,384 | 78.2% | S100YI5G |
| Gross profit | 6,816 | 21.8% | S100YI5G |
| SG&A | 4,212 | 13.5% | S100YI5G |
| Operating income | 2,604 | 8.3% | S100YI5G |
| Ordinary income | 2,711 | 8.7% | S100YI5G |
| Pretax income | 2,433 | 7.8% | S100YI5G |
| Income tax | 944 | 3.0% | S100YI5G |
| Net income | 1,488 | 4.8% | S100YI5G |
| Net income attributable to owners | 1,488 | 4.8% | S100YI5G |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 14 |
| Operating income | 8 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 21.8% → Operating margin 8.3% → Net margin 4.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.8%; Core profit growth: +1.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.48×
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 | 30,364 | 31,200 | 837 | +2.8% |
| Gross profit | 6,568 | 6,816 | 248 | +3.8% |
| Operating income | 2,570 | 2,604 | 34 | +1.3% |
| Net income attributable to owners | 2,587 | 1,488 | -1,098 | -42.5% |
| Operating cash flow | 1,540 | 2,043 | 503 | +32.7% |
| Free cash flow | 494 | 1,058 | 564 | +114.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 21,099 | 270 | 1.3% | 176 | 1,126 | 544 | S100KSGF |
| FY ending Mar 2021 | 19,373 | 328 | 1.7% | 273 | 560 | 116 | S100NG2U |
| FY ending Mar 2022 | 22,729 | 715 | 3.1% | 695 | -470 | -746 | S100R7L8 |
| FY ending Mar 2023 | 25,060 | 796 | 3.2% | 611 | -382 | -972 | S100T7RU |
| FY ending Mar 2024 | 26,650 | 1,797 | 6.7% | 1,371 | 2,303 | 1,618 | S100VW6T |
| FY ending Mar 2025 | 30,364 | 2,570 | 8.5% | 2,587 | 1,540 | 494 | S100YI5G |
| FY ending Mar 2026 | 31,200 | 2,604 | 8.3% | 1,488 | 2,043 | 1,058 | S100YI5G |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥67.2M |
| Operating income per employee (consolidated) | ¥5.6M |
| Net income per employee (consolidated) | ¥3.2M |

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) | 457 | 460 | 464 | 468 | 464 |
| Average salary (parent company) | ¥4.7M | ¥4.6M | ¥4.5M | ¥5M | ¥5.1M |
| Average age (parent company) | 41.0 years | 41.0 years | 40.0 years | 41.0 years | 41.0 years |
| Average tenure (parent company) | 14.0 years | 13.0 years | 12.0 years | 13.0 years | 13.0 years |

Year over year: Employees (consolidated) -0.9% · Revenue (consolidated) +2.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| High-tech materials | 22,546 | 72.3% | 2,554 | 11.3% |
| Environmental materials | 5,987 | 19.2% | 199 | 3.3% |
| Food Materials | 2,589 | 8.3% | 128 | 4.9% |
| Other | 77 | 0.2% | -28 | -35.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| High-tech materials | 72.3% | 88.6% | 16.4 | 11.3% |
| Environmental materials | 19.2% | 6.9% | -12.3 | 3.3% |
| Food Materials | 8.3% | 4.4% | -3.9 | 4.9% |
| Other | 0.2% | — | — | -35.7% |

Loss-making segment (excluded from profit shares): Other -28 JPY mn

Segment → industry: Environmental materials → Chemicals / High-tech materials → Chemicals / Food Materials → Food Ingredients

## 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 | 2,043 | 6.5% | S100YI5G |
| Capital expenditure | 985 | 3.2% | S100YI5G |
| Free cash flow | 1,058 | 3.4% | 算出 |
| Investing cash flow | -962 | -3.1% | S100YI5G |
| Financing cash flow | 954 | 3.1% | S100YI5G |
| Dividends paid | 193 | 0.6% | S100YI5G |
| Share buyback | 2 | 0.0% | S100YI5G |
| Change in cash | 2,334 | 7.5% | S100YI5G |
| Cash and equivalents | 11,313 | 36.3% | S100YI5G |

## 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 | 4,701 | 4,866 | 6,344 | 8,978 | 11,313 | S100T7RU, S100VW6T, S100YI5G |
| Total assets | 21,712 | 23,695 | 26,860 | 30,972 | 35,221 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Net assets | 13,727 | 14,784 | 17,254 | 20,173 | 22,336 | S100T7RU, S100VW6T, S100YI5G |
| Share capital | 5,115 | 5,115 | 5,115 | 5,115 | 5,115 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Trade receivables | 5,622 | 5,772 | 6,258 | 6,339 | 7,098 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Inventories | 3,677 | 4,827 | 4,486 | 4,664 | 5,548 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Property, plant and equipment | 2,642 | 3,063 | 3,243 | 4,628 | 4,790 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Intangible assets excluding goodwill | 111 | 115 | 116 | 113 | 120 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Investment securities | 1,737 | 1,573 | 2,983 | 2,388 | 3,006 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Current assets | 15,937 | 17,561 | 19,456 | 22,733 | 26,372 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Current liabilities | 7,782 | 4,648 | 5,183 | 8,920 | 5,925 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Trade payables | 3,413 | 3,517 | 3,864 | 3,202 | 4,087 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Short-term borrowings | — | — | — | — | 157 | S100YI5G |
| Long-term borrowings | — | 4,000 | 4,000 | 1,000 | 6,000 | S100T7RU, S100VW6T, S100YI5G |
| Total liabilities | 7,984 | 8,911 | 9,606 | 10,799 | 12,885 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Non-controlling interests | — | 5 | — | — | — | S100T7RU |
| Equity attributable to owners of parent | 12,149 | 12,663 | 13,936 | 16,383 | 17,676 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Retained earnings | 2,618 | 3,132 | 4,406 | 6,857 | 8,152 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |
| Treasury stock | -58 | -58 | -60 | -64 | -65 | S100R7L8, S100T7RU, S100VW6T, S100YI5G |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 32% | S100YI5G |
| Receivables | 20% | S100YI5G |
| Inventories | 16% | S100YI5G |
| Property, plant and equipment | 14% | S100YI5G |
| Intangibles and goodwill | 0% | S100YI5G |
| Investment securities | 9% | S100YI5G |
| Other assets | 9% | S100YI5G |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 12% | S100YI5G |
| Other liabilities | 25% | S100YI5G |
| Equity | 63% | S100YI5G |
| Other liabilities | 0% | S100YI5G |

### 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 | 21,712 | 23,695 | 26,860 | 30,972 | 35,221 |
| Equity | 13,727 | 14,784 | 17,254 | 20,173 | 22,336 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,701 | 4,866 | 6,344 | 8,978 | 11,313 |

## 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) | 15.4% | S100YI5G |
| Fixed assets ÷ total assets | 13.6% | S100YI5G |
| Goodwill ÷ parent equity | — | —, S100YI5G |

### 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) | 32.1% |
| Cash ÷ revenue | 36.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 78.4% |
| Cash vs. profit gap | 554 JPY mn (of net income 37.2%) |
| Shareholder returns / net income | 13.1% |
| Shareholder returns / FCF | 18.4% |
| Shareholder payments — dividends / net income | 13.0% |
| Shareholder payments — dividends / FCF | 18.3% |
| CapEx intensity (capex ÷ revenue) | 3.2% |
| Investing CF relative to operating CF | 47.1% |

## 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 | 3.1% | 1.05× | 3.2% | 1.79× | 5.7% | S100R7L8 |
| 2023 | 2.4% | 1.10× | 2.7% | 1.83× | 4.9% | S100T7RU |
| 2024 | 5.1% | 1.05× | 5.4% | 1.90× | 10.3% | S100VW6T |
| 2025 | 8.5% | 1.05× | 8.9% | 1.91× | 17.1% | S100YI5G |
| 2026 | 4.8% | 0.94× | 4.5% | 1.94× | 8.7% | S100YI5G |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ナガツタコーポレーション | Major shareholder | 32.9% | 2026-03-31 |
| 多摩興産株式会社 | Major shareholder | 12.3% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 4.6% | 2026-03-31 |
| ＩＮＴＥＲＡＣＴＩＶＥ ＢＲＯＫＥＲＳ ＬＬＣ (常任代理人 インタラクティブ・ブローカーズ 証券株式会社) | Major shareholder | 3.4% | 2026-03-31 |
| 有限会社龍和 | Major shareholder | 2.9% | 2026-03-31 |
| 秋元 利規 | Major shareholder | 2.6% | 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 | 2.5% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.5% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 2.2% | 2026-03-31 |
| ソマール従業員持株会 | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第79期(2025/04/01－2026/03/31) | S100YI5G | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI5G,, |
| 有価証券報告書－第78期(2024/04/01－2025/03/31) | S100VW6T | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VW6T,, |
| 有価証券報告書－第77期(2023/04/01－2024/03/31) | S100T7RU | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T7RU,, |
| 有価証券報告書－第76期(2022/04/01－2023/03/31) | S100R7L8 | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7L8,, |
| 有価証券報告書－第75期(令和3年4月1日－令和4年3月31日) | S100NG2U | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NG2U,, |
| 有価証券報告書－第74期(令和2年4月1日－令和3年3月31日) | S100KSGF | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KSGF,, |

## 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).