# SUNCALL 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109期(2025/04/01－2026/03/31) (S100YKOJ)
> Page: https://vizora.meequs.com/en/company/suncall
> Retrieved: 2026-09-30T19:48:50.236Z

## Company

Suncall, founded in 1943, is a company in Auto Parts listed on TSE Standard. It has 1,897 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SUNCALL CORPORATION |
| Ticker | 5985 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5985.T) |
| Listing | TSE Standard |
| Head office | 京都市右京区梅津西浦町14番地 |
| Representative (per filing) | 代表取締役 社長執行役員 奈良 正 |
| Founded | Jun 1943 |
| Share capital | ¥4.81B |
| Employees (consolidated) | 1,897 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.suncall.co.jp (https://www.suncall.co.jp/) |
| Corporate number | 4130001000899 |
| EDINET | E01402 |
| Industries (Vizora) | Auto Parts, Electronic Components |

> Profile source: annual securities report (S100YKOJ, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 32.3 | 110 |
| Profitability | 98.6 | 111 |
| Cash conversion | 35.6 | 108 |
| Efficiency | 34.7 | 111 |

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 Suncall's sales come from Japan, with Asia and North Amrica making up much of the rest.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed -18.3% from the prior year, operating profit +107.0%.

## Company structure

- Segment revenue mix: Japan 52.9%、Asia 29.3%、North Amrica 17.7%、Europe 0.1%
- Revenue → net income: ¥52223000000 → ¥6209000000
- Net income → operating cash flow: ¥6209000000 → ¥10026000000（difference ¥3817000000）
- Main uses of operating cash flow: CapEx ¥2217000000 / dividends ¥153000000 / buybacks ¥0
- Change in cash: ¥2853000000
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 | ¥52.2B |  |
| Operating income | ¥7.13B | Margin 13.6% |
| Net income | ¥6.21B | Margin 11.9% |
| Free cash flow | ¥7.81B |  |
| Largest business | Japan | of segment revenue 52.9% |
| Employees (consolidated) | 1,897 |  |
| EPS | ¥111.27 |  |
| Book value per share | ¥770.97 |  |
| Equity ratio | 59.6% |  |
| Shares outstanding | 34,057,000 |  |
| Treasury shares | 3,620,800 |  |
| Shareholders | 6,827 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |
| Cash ratio | 21.0% | Cash ÷ revenue 23.1% |
| Vs. industry median margin | +8.9 pp | Auto Parts |
| ROE | 27.2% | Derived from disclosed figures |
| ROA | 10.6% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -11% while operating income rose 107%
- FY2026, segment profit share differs by 27 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥40140000000 | ¥52223000000 | +30.1% |
| Operating income | ¥-1293000000 | ¥7125000000 | — |
| Operating margin | -3.2% | 13.6% | +16.9 pp |
| Employees | 2,292 people | 1,897 people | -17.2% |
| Cash and equivalents | ¥7570000000 | ¥12048000000 | +59.2% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 52.9% |
| 日本 → 事業再編・廃止 | 11.6% |
| 北米 → 北米 | 14.5% |
| アジア → アジア | 20.9% |
| 新設・再編 → 北米 | 3.1% |
| 新設・再編 → アジア | 8.4% |
| 新設・再編 → 欧州 | 0.1% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +1.3% | ¥27644000000 | 10.0% | 2 |
| Asia | 5 years | +12.7% | ¥15285000000 | 28.9% | 2 |
| North Amrica | 5 years | +9.6% | ¥9232000000 | 7.3% | 2 |
| Europe | 2 years | +674.6% | ¥60000000 | -53.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 52,223 | 100.0% | S100YKOJ |
| Cost of revenue | 39,600 | 75.8% | S100YKOJ |
| Gross profit | 12,622 | 24.2% | S100YKOJ |
| SG&A | 5,497 | 10.5% | S100YKOJ |
| Operating income | 7,125 | 13.6% | S100YKOJ |
| Ordinary income | 7,484 | 14.3% | S100YKOJ |
| Pretax income | 7,376 | 14.1% | S100YKOJ |
| Income tax | 1,167 | 2.2% | S100YKOJ |
| Net income | 6,209 | 11.9% | S100YKOJ |
| Net income attributable to owners | 6,209 | 11.9% | S100YKOJ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 10 |
| Operating income | 14 |
| (Ref.) Net income | 12 |

### Margin funnel

Gross margin 24.2% → Operating margin 13.6% → Net margin 11.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -18.3%; Core profit growth: +107.0%
Operating leverage (core profit growth ÷ revenue growth): -5.84×
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 | 63,940 | 52,223 | -11,717 | -18.3% |
| Gross profit | 9,676 | 12,622 | 2,946 | +30.4% |
| Operating income | 3,442 | 7,125 | 3,683 | +107.0% |
| Net income attributable to owners | -769 | 6,209 | 6,978 | — |
| Operating cash flow | 654 | 10,026 | 9,372 | +1433.0% |
| Free cash flow | -2,438 | 7,809 | 10,247 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 42,354 | 1,375 | 3.2% | 1,123 | 2,758 | -2,577 | S100LIN3 |
| FY ending Mar 2021 | 40,140 | -1,293 | -3.2% | 61 | 3,014 | -2,194 | S100OEPB |
| FY ending Mar 2022 | 47,438 | 649 | 1.4% | 904 | 3,170 | -2,067 | S100R2GZ |
| FY ending Mar 2023 | 53,399 | 304 | 0.6% | 557 | 1,691 | -2,316 | S100TTIW |
| FY ending Mar 2024 | 51,496 | -3,542 | -6.9% | -11,816 | 678 | -3,948 | S100W3K3 |
| FY ending Mar 2025 | 63,940 | 3,442 | 5.4% | -769 | 654 | -2,438 | S100YKOJ |
| FY ending Mar 2026 | 52,223 | 7,125 | 13.6% | 6,209 | 10,026 | 7,809 | S100YKOJ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27.5M |
| Operating income per employee (consolidated) | ¥3.8M |
| Net income per employee (consolidated) | ¥3.3M |

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) | 2,280 | 2,262 | 2,172 | 2,133 | 1,897 |
| Average salary (parent company) | ¥5.7M | ¥5.8M | ¥5.9M | ¥5.9M | ¥6.4M |
| Average age (parent company) | 38.9 years | 39.4 years | 40.4 years | 40.9 years | 42.5 years |
| Average tenure (parent company) | 15.4 years | 16.4 years | 15.8 years | 16.8 years | 18.3 years |

Year over year: Employees (consolidated) -11.1% · Revenue (consolidated) -18.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 27,644 | 52.9% | 2,769 | 10.0% |
| North Amrica | 9,232 | 17.7% | 670 | 7.3% |
| Asia | 15,285 | 29.3% | 4,413 | 28.9% |
| Europe | 60 | 0.1% | -32 | -53.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 52.9% | 35.3% | -17.7 | 10.0% |
| North Amrica | 17.7% | 8.5% | -9.1 | 7.3% |
| Asia | 29.3% | 56.2% | 26.9 | 28.9% |
| Europe | 0.1% | — | — | -53.3% |

Loss-making segment (excluded from profit shares): Europe -32 JPY mn

Segment → industry: Europe → Auto Parts / Asia → Auto Parts / North Amrica → Auto Parts / Japan → Auto Parts / Japan → Electronic Components

## 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 | 10,026 | 19.2% | S100YKOJ |
| Capital expenditure | 2,217 | 4.2% | S100YKOJ |
| Free cash flow | 7,809 | 15.0% | 算出 |
| Investing cash flow | -2,244 | -4.3% | S100YKOJ |
| Financing cash flow | -5,328 | -10.2% | S100YKOJ |
| Dividends paid | 153 | 0.3% | S100YKOJ |
| Share buyback | 0 | 0.0% | S100YKOJ |
| Change in cash | 2,853 | 5.5% | S100YKOJ |
| Cash and equivalents | 12,048 | 23.1% | S100YKOJ |

## 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 | 7,510 | 7,707 | 7,387 | 9,195 | 12,048 | S100TTIW, S100W3K3, S100YKOJ |
| Total assets | 57,932 | 63,735 | 60,447 | 60,175 | 57,394 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Net assets | 37,182 | 38,038 | 29,351 | 26,592 | 34,214 | S100TTIW, S100W3K3, S100YKOJ |
| Share capital | 4,808 | 4,808 | 4,808 | 4,808 | 4,808 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Property, plant and equipment | 21,417 | 23,001 | 15,520 | 15,008 | 14,905 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Intangible assets excluding goodwill | 396 | 344 | 316 | 278 | 192 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Investment securities | 5,371 | 6,761 | 8,998 | 5,898 | 7,360 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Current assets | 28,328 | 31,449 | 31,648 | 34,996 | 30,462 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Current liabilities | 17,471 | 21,324 | 24,584 | 26,368 | 14,781 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Trade payables | 7,278 | 7,103 | 6,525 | 7,310 | 3,944 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Short-term borrowings | 5,325 | 7,952 | 12,278 | 10,373 | 4,944 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Long-term borrowings | 769 | 2,123 | 1,851 | 3,754 | 4,502 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Total liabilities | 20,750 | 25,696 | 31,095 | 33,582 | 23,179 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Equity attributable to owners of parent | 33,214 | 33,126 | 20,765 | 19,733 | 25,842 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Retained earnings | 27,280 | 27,169 | 14,775 | 13,701 | 19,758 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |
| Treasury stock | -1,701 | -1,684 | -1,655 | -1,614 | -1,562 | S100R2GZ, S100TTIW, S100W3K3, S100YKOJ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 21% | S100YKOJ |
| Property, plant and equipment | 26% | S100YKOJ |
| Intangibles and goodwill | 0% | S100YKOJ |
| Investment securities | 13% | S100YKOJ |
| Other assets | 40% | S100YKOJ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100YKOJ |
| Other liabilities | 33% | S100YKOJ |
| Equity | 60% | S100YKOJ |
| Other liabilities | 0% | S100YKOJ |

### 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 | 57,932 | 63,735 | 60,447 | 60,175 | 57,394 |
| Equity | 37,182 | 38,038 | 29,351 | 26,592 | 34,214 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,510 | 7,707 | 7,387 | 9,195 | 12,048 |

## 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) | 28.5% | S100YKOJ |
| Fixed assets ÷ total assets | 26.0% | S100YKOJ |
| Goodwill ÷ parent equity | — | —, S100YKOJ |

### 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) | 21.0% |
| Cash ÷ revenue | 23.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 140.7% |
| Cash vs. profit gap | 3,817 JPY mn (of net income 61.5%) |
| Shareholder returns / net income | 2.5% |
| Shareholder returns / FCF | 2.0% |
| Shareholder payments — dividends / net income | 2.5% |
| Shareholder payments — dividends / FCF | 2.0% |
| CapEx intensity (capex ÷ revenue) | 4.2% |
| Investing CF relative to operating CF | 22.4% |

## 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 | 1.9% | 0.82× | 1.6% | 1.74× | 2.7% | S100R2GZ |
| 2023 | 1.0% | 0.88× | 0.9% | 1.83× | 1.7% | S100TTIW |
| 2024 | — | —× | -19.0% | —× | — | S100W3K3 |
| 2025 | — | —× | -1.3% | —× | — | S100YKOJ |
| 2026 | 11.9% | 0.89× | 10.6% | 2.58× | 27.2% | S100YKOJ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（退職給付信託口・株式会社神戸製鋼所口） | Major shareholder | 16.7% | 2026-03-31 |
| 伊藤忠丸紅鉄鋼株式会社 | Major shareholder | 15.4% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 7.5% | 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 | 6.1% | 2026-03-31 |
| 株式会社京都銀行 | Major shareholder | 2.5% | 2026-03-31 |
| サンコール従業員持株会 | Major shareholder | 1.8% | 2026-03-31 |
| JP JPMSE LUX RE UBS AG LONDON BRANCH EQ CO （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.8% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.5% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第109期(2025/04/01－2026/03/31) | S100YKOJ | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKOJ,, |
| 有価証券報告書－第108期(2024/04/01－2025/03/31) | S100W3K3 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3K3,, |
| 有価証券報告書－第107期(2023/04/01－2024/03/31) | S100TTIW | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTIW,, |
| 有価証券報告書－第106期(2022/04/01－2023/03/31) | S100R2GZ | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2GZ,, |
| 有価証券報告書－第105期(令和3年4月1日－令和4年3月31日) | S100OEPB | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEPB,, |
| 有価証券報告書－第104期(令和2年4月1日－令和3年3月31日) | S100LIN3 | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LIN3,, |

## 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).