# Sumiseki Holdings, Inc.: 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18期(2025/04/01－2026/03/31) (S100YKD1)
> Page: https://vizora.meequs.com/en/company/sumiseki-holdings
> Retrieved: 2026-09-30T23:08:38.490Z

## Company

Sumiseki Holdings, founded in 2008, is a company in Machine Tools listed on TSE Standard. It has 40 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Sumiseki Holdings,Inc. |
| Ticker | 1514 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1514.T) |
| Listing | TSE Standard |
| Head office | 東京都港区西新橋一丁目7番14号 |
| Representative (per filing) | 代表取締役社長 森 省輔 |
| Founded | Oct 2008 |
| Share capital | ¥2.5B |
| Employees (consolidated) | 40 |
| Average salary (parent only) | ¥6.1M |
| Fiscal year end | March |
| Website | www.sumiseki.co.jp (https://www.sumiseki.co.jp/) |
| Corporate number | 2010401078384 |
| EDINET | E21342 |
| Industries (Vizora) | Machine Tools, Oil, Gas & Mining, Cement & Concrete, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YKD1, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Oil, Gas & Mining (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 35.7 | 7 |
| Profitability | 18.8 | 8 |
| Cash conversion | 81.3 | 8 |
| Efficiency | 18.8 | 8 |

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 93% of Sumiseki Holdings's sales come from Coal business division, with Quarrying business division and DIAMONNDO division making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +3.8% from the prior year, operating profit +585.4%.

## Company structure

- Segment revenue mix: Coal business division 93.4%、Quarrying business division 4.1%、DIAMONNDO division 2.5%
- Revenue → net income: ¥10658000000 → ¥2638000000
- Net income → operating cash flow: ¥2638000000 → ¥4553000000（difference ¥1915000000）
- Main uses of operating cash flow: CapEx ¥62000000 / dividends ¥1794000000 / buybacks ¥0
- Change in cash: ¥1573000000
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 | ¥10.7B |  |
| Operating income | ¥329M | Margin 3.1% |
| Net income | ¥2.64B | Margin 24.8% |
| Free cash flow | ¥4.49B |  |
| Largest business | Coal business division | of segment revenue 93.4% |
| Employees (consolidated) | 40 |  |
| EPS | ¥71.39 |  |
| Book value per share | ¥374.44 |  |
| Equity ratio | 90.6% |  |
| Shares outstanding | 67,222,853 |  |
| Treasury shares | 7,399,700 |  |
| Shareholders | 25,984 |  |
| Average salary (parent only) | ¥6.1M | Filing company only |
| Cash ratio | 52.6% | Cash ÷ revenue 158.8% |
| Vs. industry median margin | -8.4 pp | Oil, Gas & Mining |
| ROE | 9.5% | Derived from disclosed figures |
| ROA | 8.6% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 53% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥9781000000 | ¥10658000000 | +9.0% |
| Operating income | ¥-63000000 | ¥329000000 | — |
| Operating margin | -0.6% | 3.1% | +3.7 pp |
| Employees | 57 people | 40 people | -29.8% |
| Cash and equivalents | ¥4647000000 | ¥16924000000 | +264.2% |

### 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 |
| --- | ---: |
| 石炭事業 → 石炭事業 | 89.5% |
| 新素材事業部門 → 事業再編・廃止 | 2.8% |
| 採石事業 → 採石事業 | 4.1% |
| 採石事業 → 事業再編・廃止 | 3.6% |
| 新設・再編 → 石炭事業 | 3.9% |
| 新設・再編 → ダイヤ事業 | 2.5% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Coal business division | 5 years | +2.6% | ¥9954000000 | 5.5% | 2 |
| Quarrying business division | 5 years | -10.3% | ¥436000000 | 27.5% | 2 |
| DIAMONNDO division | — | — | ¥267000000 | 24.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 10,658 | 100.0% | S100YKD1 |
| Cost of revenue | 8,715 | 81.8% | S100YKD1 |
| Gross profit | 1,943 | 18.2% | S100YKD1 |
| SG&A | 1,614 | 15.1% | S100YKD1 |
| Operating income | 329 | 3.1% | S100YKD1 |
| Ordinary income | 2,794 | 26.2% | S100YKD1 |
| Pretax income | 2,756 | 25.9% | S100YKD1 |
| Income tax | 118 | 1.1% | S100YKD1 |
| Net income | 2,638 | 24.8% | S100YKD1 |
| Net income attributable to owners | 2,638 | 24.8% | S100YKD1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 15 |
| Operating income | 3 |
| (Ref.) Net income | 25 |

### Margin funnel

Gross margin 18.2% → Operating margin 3.1% → Net margin 24.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.8%; Core profit growth: +585.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 152.51×
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 | 10,264 | 10,658 | 394 | +3.8% |
| Gross profit | 1,294 | 1,943 | 649 | +50.2% |
| Operating income | 48 | 329 | 281 | +585.4% |
| Net income attributable to owners | 4,195 | 2,638 | -1,557 | -37.1% |
| Operating cash flow | 26 | 4,553 | 4,527 | +17411.5% |
| Free cash flow | -185 | 4,491 | 4,676 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 16,679 | 1,276 | 7.7% | 1,021 | 2,191 | 2,155 | S100LU6X |
| FY ending Mar 2021 | 9,781 | -63 | -0.6% | -94 | 1,452 | 1,427 | S100OKGJ |
| FY ending Mar 2022 | 12,405 | 2,343 | 18.9% | 2,268 | -3,034 | -3,040 | S100R87R |
| FY ending Mar 2023 | 39,893 | 3,840 | 9.6% | 3,667 | 53 | 30 | S100TVLR |
| FY ending Mar 2024 | 14,416 | -154 | -1.1% | 7,530 | 18,778 | 18,768 | S100W829 |
| FY ending Mar 2025 | 10,264 | 48 | 0.5% | 4,195 | 26 | -185 | S100YKD1 |
| FY ending Mar 2026 | 10,658 | 329 | 3.1% | 2,638 | 4,553 | 4,491 | S100YKD1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥266.4M |
| Operating income per employee (consolidated) | ¥8.2M |
| Net income per employee (consolidated) | ¥66M |

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) | 45 | 45 | 46 | 39 | 40 |
| Average salary (parent company) | ¥6.9M | ¥7.7M | ¥8.1M | ¥5.9M | ¥6.1M |
| Average age (parent company) | 50.5 years | 50.9 years | 50.4 years | 47.1 years | 48.1 years |
| Average tenure (parent company) | 22.1 years | 22.1 years | 19.1 years | 19.1 years | 20.1 years |

Year over year: Employees (consolidated) +2.6% · Revenue (consolidated) +3.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Coal business division | 9,954 | 93.4% | 551 | 5.5% |
| DIAMONNDO division | 267 | 2.5% | 66 | 24.7% |
| Quarrying business division | 436 | 4.1% | 120 | 27.5% |

### 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 |
| --- | ---: |
| Coal business division | 93.4% |
| DIAMONNDO division | 2.5% |
| Quarrying business division | 4.1% |

Segment → industry: DIAMONNDO division → Machine Tools / Coal business division → Oil, Gas & Mining / Quarrying business division → Cement & Concrete / Coal business division → Specialty Trading & Wholesale

## 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 | 4,553 | 42.7% | S100YKD1 |
| Capital expenditure | 62 | 0.6% | S100YKD1 |
| Free cash flow | 4,491 | 42.1% | 算出 |
| Investing cash flow | -1,162 | -10.9% | S100YKD1 |
| Financing cash flow | -1,822 | -17.1% | S100YKD1 |
| Dividends paid | 1,794 | 16.8% | S100YKD1 |
| Share buyback | 0 | 0.0% | S100YKD1 |
| Change in cash | 1,573 | 14.8% | S100YKD1 |
| Cash and equivalents | 16,924 | 158.8% | S100YKD1 |

## 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 | 3,402 | 3,937 | 18,717 | 15,351 | 16,924 | S100TVLR, S100W829, S100YKD1 |
| Total assets | 21,576 | 26,143 | 31,137 | 29,047 | 32,191 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Net assets | 17,354 | 20,360 | 26,989 | 28,024 | 29,150 | S100TVLR, S100W829, S100YKD1 |
| Share capital | 2,501 | 2,501 | 2,501 | 2,501 | 2,501 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Property, plant and equipment | 5,996 | 5,858 | 5,336 | 4,921 | 4,858 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Intangible assets excluding goodwill | 1 | 6 | 4 | 3 | 3 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Investment securities | 2,689 | 2,542 | 2,847 | 2,806 | 4,252 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Current assets | 12,787 | 17,609 | 22,863 | 21,227 | 22,945 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Current liabilities | 3,447 | 5,105 | 3,382 | 396 | 2,295 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Trade payables | 1,493 | 1,988 | 2,279 | 124 | 1,841 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Short-term borrowings | 1,700 | 2,900 | 43 | — | — | S100R87R, S100TVLR, S100W829 |
| Total liabilities | 4,222 | 5,784 | 4,148 | 1,023 | 3,040 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Equity attributable to owners of parent | 17,107 | 20,154 | 26,342 | 27,273 | 28,140 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Retained earnings | 14,139 | 17,522 | 24,346 | 25,254 | 26,098 | S100R87R, S100TVLR, S100W829, S100YKD1 |
| Treasury stock | -471 | -815 | -1,474 | -1,471 | -1,463 | S100R87R, S100TVLR, S100W829, S100YKD1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 53% | S100YKD1 |
| Property, plant and equipment | 15% | S100YKD1 |
| Intangibles and goodwill | 0% | S100YKD1 |
| Investment securities | 13% | S100YKD1 |
| Other assets | 19% | S100YKD1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YKD1 |
| Other liabilities | 4% | S100YKD1 |
| Equity | 90% | S100YKD1 |
| Other liabilities | 0% | S100YKD1 |

### 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 | 21,576 | 26,143 | 31,137 | 29,047 | 32,191 |
| Equity | 17,354 | 20,360 | 26,989 | 28,024 | 29,150 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,402 | 3,937 | 18,717 | 15,351 | 16,924 |

## 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) | 45.6% | S100YKD1 |
| Fixed assets ÷ total assets | 15.1% | S100YKD1 |
| Goodwill ÷ parent equity | — | —, S100YKD1 |

### 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) | 52.6% |
| Cash ÷ revenue | 158.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 1383.9% |
| Cash vs. profit gap | 1,915 JPY mn (of net income 72.6%) |
| Shareholder returns / net income | 68.0% |
| Shareholder returns / FCF | 39.9% |
| Shareholder payments — dividends / net income | 68.0% |
| Shareholder payments — dividends / FCF | 39.9% |
| CapEx intensity (capex ÷ revenue) | 0.6% |
| Investing CF relative to operating CF | 25.5% |

## 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 | 18.3% | 0.57× | 10.5% | 1.26× | 13.3% | S100R87R |
| 2023 | 9.2% | 1.67× | 15.4% | 1.28× | 19.7% | S100TVLR |
| 2024 | 52.2% | 0.50× | 26.3% | 1.23× | 32.4% | S100W829 |
| 2025 | 40.9% | 0.34× | 13.9% | 1.12× | 15.6% | S100YKD1 |
| 2026 | 24.8% | 0.35× | 8.6% | 1.11× | 9.5% | S100YKD1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社麻生 | Major shareholder | 56.9% | 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 | 3.4% | 2026-03-31 |
| 三井住友カード株式会社 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 2.2% | 2026-03-31 |
| 株式会社日本総合研究所 | Major shareholder | 1.4% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 1.0% | 2026-03-31 |
| モルガン・スタンレーＭＵＦＧ証券株式会社 | Major shareholder | 0.9% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.6% | 2026-03-31 |
| 大澤 政俊 | Major shareholder | 0.6% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第18期(2025/04/01－2026/03/31) | S100YKD1 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKD1,, |
| 有価証券報告書－第17期(2024/04/01－2025/03/31) | S100W829 | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W829,, |
| 有価証券報告書－第16期(2023/04/01－2024/03/31) | S100TVLR | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVLR,, |
| 有価証券報告書－第15期(2022/04/01－2023/03/31) | S100R87R | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R87R,, |
| 有価証券報告書－第14期(令和3年4月1日－令和4年3月31日) | S100OKGJ | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKGJ,, |
| 有価証券報告書－第13期(令和2年4月1日－令和3年3月31日) | S100LU6X | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LU6X,, |

## 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).