# SOTOHCO.,LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第155期(2025/04/01－2026/03/31) (S100YIBK)
> Page: https://vizora.meequs.com/en/company/sotohco
> Retrieved: 2026-09-30T20:25:34.050Z

## Company

Sotohco., founded in 1923, is a company in Textiles & Fibers listed on TSE Standard. It has 575 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SOTOH CO.,LTD. |
| Ticker | 3571 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3571.T) |
| Listing | TSE Standard |
| Head office | 愛知県一宮市篭屋五丁目1番1号 |
| Representative (per filing) | 取締役社長 上田康彦 |
| Founded | Feb 1923 |
| Share capital | ¥100M |
| Employees (consolidated) | 575 |
| Average salary (parent only) | ¥4.9M |
| Fiscal year end | March |
| Website | sotoh.co.jp (https://sotoh.co.jp/) |
| Corporate number | 8180001084265 |
| EDINET | E00569 |
| Industries (Vizora) | Textiles & Fibers, Real Estate Development & Leasing, Apparel |

> Profile source: annual securities report (S100YIBK, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Textiles & Fibers (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 89.3 | 14 |
| Profitability | 21.9 | 16 |
| Efficiency | 46.9 | 16 |

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 53% of Sotohco.'s sales come from Dyeing and finishing, with Product sales business and Real estate making up much of the rest.
- It lost about ¥2 for every ¥100 of sales at the operating level.
- Revenue changed +6.7% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥10.7B |  |
| Operating income | -¥229.2M | Margin -2.1% |
| Net income | ¥515.6M | Margin 4.8% |
| Free cash flow | -¥492.8M |  |
| Largest business | Dyeing and finishing | of segment revenue 53.1% |
| Employees (consolidated) | 575 |  |
| EPS | ¥23.82 |  |
| Book value per share | ¥1098.15 |  |
| Equity ratio | 75.3% |  |
| Shares outstanding | 13,533,000 |  |
| Treasury shares | 1,347,300 |  |
| Shareholders | 4,744 |  |
| Average salary (parent only) | ¥4.9M | Filing company only |
| Cash ratio | 6.3% | Net cash ¥896.9M · Cash ÷ revenue 11.7% |
| Vs. industry median margin | -5.5 pp | Textiles & Fibers |
| ROE | 4.3% | Derived from disclosed figures |
| ROA | 2.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.0× net income
- FY2026, one segment accounts for 66% of positive segment profit
- FY2026, segment profit share differs by 61 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥7545390000 | ¥10715238000 | +42.0% |
| Operating income | ¥-634897000 | ¥-229211000 | — |
| Operating margin | -8.4% | -2.1% | +6.3 pp |
| Employees | 568 people | 575 people | +1.2% |
| Cash and equivalents | ¥2571441000 | ¥1252374000 | -51.3% |

### 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 |
| --- | ---: |
| 染色加工事業 → 染色加工事業 | 53.1% |
| 染色加工事業 → 事業再編・廃止 | 6.6% |
| テキスタイル事業 → 事業再編・廃止 | 33.3% |
| 不動産事業 → 不動産事業 | 4.6% |
| 不動産事業 → 事業再編・廃止 | 2.5% |
| 新設・再編 → 製品販売事業 | 42.3% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Dyeing and finishing | 5 years | +4.8% | ¥5690758000 | -11.6% | 2 |
| Product sales business | — | — | ¥4534504000 | 3.3% | 2 |
| Real estate | 5 years | -1.7% | ¥489975000 | 57.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 10,715 | 100.0% | S100YIBK |
| Cost of revenue | 9,516 | 88.8% | S100YIBK |
| Gross profit | 1,199 | 11.2% | S100YIBK |
| SG&A | 1,429 | 13.3% | S100YIBK |
| Operating income | -229 | -2.1% | S100YIBK |
| Ordinary income | -37 | -0.3% | S100YIBK |
| Pretax income | 741 | 6.9% | S100YIBK |
| Income tax | 225 | 2.1% | S100YIBK |
| Net income | 516 | 4.8% | S100YIBK |
| Net income attributable to owners | 516 | 4.8% | S100YIBK |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 89 |
| SG&A | 13 |
| Operating income | -2 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 11.2% → Operating margin -2.1% → Net margin 4.8%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 10,043 | 10,715 | 672 | +6.7% |
| Gross profit | 936 | 1,199 | 263 | +28.1% |
| Operating income | -147 | -229 | -82 | — |
| Net income attributable to owners | 407 | 516 | 109 | +26.7% |
| Operating cash flow | 476 | 1,034 | 558 | +117.1% |
| Free cash flow | -1,317 | -493 | 825 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 11,219 | 193 | 1.7% | -98 | 1,084 | 504 | S100LLER |
| FY ending Mar 2021 | 7,545 | -635 | -8.4% | -832 | 1,019 | -82 | S100OBWB |
| FY ending Mar 2022 | 7,507 | -583 | -7.8% | -1,128 | -71 | -256 | S100R69T |
| FY ending Mar 2023 | 9,826 | -547 | -5.6% | -723 | -794 | -2,152 | S100TRAW |
| FY ending Mar 2024 | 10,710 | 342 | 3.2% | 2,704 | 565 | -156 | S100W3QG |
| FY ending Mar 2025 | 10,043 | -147 | -1.5% | 407 | 476 | -1,317 | S100YIBK |
| FY ending Mar 2026 | 10,715 | -229 | -2.1% | 516 | 1,034 | -493 | S100YIBK |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥18.6M |
| Operating income per employee (consolidated) | -¥398.6K |
| Net income per employee (consolidated) | ¥896.7K |

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) | 556 | 557 | 547 | 586 | 575 |
| Average salary (parent company) | ¥4.1M | ¥4.5M | ¥4.9M | ¥4.9M | ¥4.9M |
| Average age (parent company) | 42.5 years | 43.4 years | 45.0 years | 45.2 years | 45.5 years |
| Average tenure (parent company) | 18.7 years | 19.6 years | 20.2 years | 20.5 years | 20.9 years |

Year over year: Employees (consolidated) -1.9% · Revenue (consolidated) +6.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Dyeing and finishing | 5,691 | 53.1% | -661 | -11.6% |
| Product sales business | 4,535 | 42.3% | 148 | 3.3% |
| Real estate | 490 | 4.6% | 283 | 57.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Dyeing and finishing | 53.1% | — | — | -11.6% |
| Product sales business | 42.3% | 34.3% | -8.0 | 3.3% |
| Real estate | 4.6% | 65.7% | 61.1 | 57.9% |

Loss-making segment (excluded from profit shares): Dyeing and finishing -661 JPY mn

Segment → industry: Product sales business → Textiles & Fibers / Dyeing and finishing → Textiles & Fibers / Real estate → Real Estate Development & Leasing / Product sales business → Apparel

## 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 | 1,034 | 9.7% | S100YIBK |
| Capital expenditure | 1,527 | 14.3% | S100YIBK |
| Free cash flow | -493 | -4.6% | 算出 |
| Investing cash flow | -614 | -5.7% | S100YIBK |
| Financing cash flow | -1,058 | -9.9% | S100YIBK |
| Dividends paid | 514 | 4.8% | S100YIBK |
| Share buyback | 322 | 3.0% | S100YIBK |
| Change in cash | -641 | -6.0% | S100YIBK |
| Cash and equivalents | 1,252 | 11.7% | S100YIBK |

## 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 | 2,336 | 946 | 3,480 | 1,893 | 1,252 | S100TRAW, S100W3QG, S100YIBK |
| Total assets | 14,713 | 14,413 | 18,809 | 19,916 | 19,792 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Net assets | 11,283 | 10,568 | 14,266 | 14,827 | 14,911 | S100TRAW, S100W3QG, S100YIBK |
| Share capital | 3,124 | 3,124 | 100 | 100 | 100 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Property, plant and equipment | 4,147 | 4,908 | 4,922 | 6,225 | 6,615 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Intangible assets excluding goodwill | 32 | 31 | 62 | 61 | 53 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Investment securities | 4,162 | 3,996 | 5,811 | 6,573 | 6,765 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Current assets | 5,467 | 4,619 | 7,041 | 5,939 | 4,993 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Current liabilities | 2,057 | 2,347 | 2,272 | 2,247 | 1,811 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Trade payables | 622 | 757 | 703 | 864 | 686 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Short-term borrowings | — | — | 325 | 121 | 90 | S100W3QG, S100YIBK |
| Long-term borrowings | 130 | 110 | 161 | 399 | 245 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Bonds | — | — | — | 30 | 20 | S100YIBK |
| Interest-bearing debt | — | — | — | 550 | 355 | 算出 |
| Total liabilities | 3,430 | 3,845 | 4,543 | 5,089 | 4,882 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Equity attributable to owners of parent | 10,913 | 9,896 | 12,320 | 12,286 | 11,963 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Retained earnings | 7,809 | 6,793 | 9,217 | 9,282 | 9,282 | S100R69T, S100TRAW, S100W3QG, S100YIBK |
| Treasury stock | -1,362 | -1,363 | -1,363 | -1,463 | -1,376 | S100R69T, S100TRAW, S100W3QG, S100YIBK |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YIBK |
| Property, plant and equipment | 34% | S100YIBK |
| Intangibles and goodwill | 0% | S100YIBK |
| Investment securities | 34% | S100YIBK |
| Other assets | 26% | S100YIBK |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YIBK |
| Interest-bearing debt | 2% | 算出 |
| Other liabilities | 19% | S100YIBK |
| Equity | 75% | S100YIBK |
| Other liabilities | 0% | S100YIBK |

### 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 | 14,713 | 14,413 | 18,809 | 19,916 | 19,792 |
| Equity | 11,283 | 10,568 | 14,266 | 14,827 | 14,911 |
| Interest-bearing debt | — | — | — | 550 | 355 |
| Cash | 2,336 | 946 | 3,480 | 1,893 | 1,252 |

## 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) | 61.7% | S100YIBK |
| Fixed assets ÷ total assets | 33.4% | S100YIBK |
| Goodwill ÷ parent equity | — | —, S100YIBK |

### 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) | 6.3% |
| Cash ÷ revenue | 11.7% |
| Net cash (cash − interest-bearing debt) | ¥896.9M |
| Net debt ÷ operating cash flow | -0.87× |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 519 JPY mn (of net income 100.6%) |
| Shareholder returns / net income | 162.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 99.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 14.3% |
| Investing CF relative to operating CF | 59.3% |

## 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 | — | —× | -7.7% | —× | — | S100R69T |
| 2023 | — | —× | -5.0% | —× | — | S100TRAW |
| 2024 | 25.2% | 0.64× | 16.3% | 1.50× | 24.3% | S100W3QG |
| 2025 | 4.1% | 0.52× | 2.1% | 1.57× | 3.3% | S100YIBK |
| 2026 | 4.8% | 0.54× | 2.6% | 1.64× | 4.3% | S100YIBK |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ミソノサービス株式会社 | Major shareholder | 18.9% | 2026-03-31 |
| 日本毛織株式会社 | Major shareholder | 9.5% | 2026-03-31 |
| 株式会社ダイドーリミテッド | Major shareholder | 7.3% | 2026-03-31 |
| 株式会社トーア紡コーポレーション | Major shareholder | 5.6% | 2026-03-31 |
| 株式会社ダイドーフォワード | Major shareholder | 2.4% | 2026-03-31 |
| タキヒヨー株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 1.8% | 2026-03-31 |
| ソトー従業員持株会 | Major shareholder | 1.7% | 2026-03-31 |
| 株式会社十六銀行 | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第155期(2025/04/01－2026/03/31) | S100YIBK | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YIBK,, |
| 有価証券報告書－第154期(2024/04/01－2025/03/31) | S100W3QG | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3QG,, |
| 有価証券報告書－第153期(2023/04/01－2024/03/31) | S100TRAW | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRAW,, |
| 有価証券報告書－第152期(2022/04/01－2023/03/31) | S100R69T | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R69T,, |
| 有価証券報告書－第151期(令和3年4月1日－令和4年3月31日) | S100OBWB | 2022-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBWB,, |
| 有価証券報告書－第150期(令和2年4月1日－令和3年3月31日) | S100LLER | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLER,, |

## 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).