# SUZUDEN 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74期(2025/04/01－2026/03/31) (S100YG54)
> Page: https://vizora.meequs.com/en/company/suzuden
> Retrieved: 2026-09-30T21:02:54.183Z

## Company

Suzuden, founded in 1952, is a company in Semiconductor Equipment listed on TSE Standard. It has 336 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SUZUDEN CORPORATION |
| Ticker | 7480 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7480.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区外神田二丁目2番3号 |
| Representative (per filing) | 代表取締役社長 高谷健文 |
| Founded | Dec 1952 |
| Share capital | ¥1.82B |
| Employees (consolidated) | 336 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | March |
| Website | www.suzuden.co.jp (https://www.suzuden.co.jp/) |
| Corporate number | 1010001003966 |
| EDINET | E02838 |
| Industries (Vizora) | Semiconductor Equipment, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YG54, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 15.9 | 179 |
| Profitability | 72.7 | 185 |
| Cash conversion | 32.7 | 179 |
| Efficiency | 54.9 | 185 |

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 99% of Suzuden's sales come from Sale of Electrical and Electronic Components, with Manufacturing business making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed -1.6% from the prior year, operating profit -14.5%.

## Company structure

- Segment revenue mix: Sale of Electrical and Electronic Components 99.0%、Manufacturing business 1.0%
- Revenue → net income: ¥45902296000 → ¥1722899000
- Net income → operating cash flow: ¥1722899000 → ¥1527665000（difference ¥-195234000）
- Main uses of operating cash flow: CapEx ¥16414000 / dividends ¥1381223000 / buybacks —
- Change in cash: ¥-1295151000
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 | ¥45.9B |  |
| Operating income | ¥2.07B | Margin 4.5% |
| Net income | ¥1.72B | Margin 3.8% |
| Free cash flow | ¥1.51B |  |
| Largest business | Sale of Electrical and Electronic Components | of segment revenue 99.0% |
| Employees (consolidated) | 336 |  |
| EPS | ¥128.76 |  |
| Book value per share | ¥1317.49 |  |
| Equity ratio | 59.1% |  |
| Shares outstanding | 13,282,000 |  |
| Treasury shares | 380,000 |  |
| Shareholders | 11,946 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 24.1% | Cash ÷ revenue 14.9% |
| Vs. industry median margin | +1.6 pp | Specialty Trading & Wholesale |
| ROE | 9.8% | Derived from disclosed figures |
| ROA | 6.0% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 100% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥45281607000 | ¥45902296000 | +1.4% |
| Operating income | ¥1332339000 | ¥2072075000 | +55.5% |
| Operating margin | 2.9% | 4.5% | +1.6 pp |
| Employees | 373 people | 336 people | -9.9% |
| Cash and equivalents | ¥5886920000 | ¥6820265000 | +15.9% |

### 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 |
| --- | ---: |
| 新設・再編 → 電機・電子部品販売事業 | 99.0% |
| 新設・再編 → 製造事業 | 1.0% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 45,902 | 100.0% | S100YG54 |
| Cost of revenue | 38,426 | 83.7% | S100YG54 |
| Gross profit | 7,476 | 16.3% | S100YG54 |
| SG&A | 5,404 | 11.8% | S100YG54 |
| Operating income | 2,072 | 4.5% | S100YG54 |
| Ordinary income | 2,340 | 5.1% | S100YG54 |
| Pretax income | 2,563 | 5.6% | S100YG54 |
| Income tax | 840 | 1.8% | S100YG54 |
| Net income | 1,723 | 3.8% | S100YG54 |
| Net income attributable to owners | 1,723 | 3.8% | S100YG54 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 12 |
| Operating income | 4 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 16.3% → Operating margin 4.5% → Net margin 3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -1.6%; Core profit growth: -14.5%
Operating leverage (core profit growth ÷ revenue growth): 9.27×
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 | 46,632 | 45,902 | -729 | -1.6% |
| Gross profit | 7,807 | 7,476 | -332 | -4.2% |
| Operating income | 2,423 | 2,072 | -351 | -14.5% |
| Net income attributable to owners | 1,790 | 1,723 | -67 | -3.7% |
| Operating cash flow | 3,945 | 1,528 | -2,417 | -61.3% |
| Free cash flow | 3,895 | 1,511 | -2,384 | -61.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 44,561 | 1,379 | 3.1% | 1,073 | 1,036 | 996 | S100LS1X |
| FY ending Mar 2021 | 45,282 | 1,332 | 2.9% | 889 | 2,515 | 2,454 | S100OKEJ |
| FY ending Mar 2022 | 59,691 | 3,052 | 5.1% | 2,342 | 426 | -473 | S100RWBG |
| FY ending Mar 2023 | 67,440 | 4,399 | 6.5% | 3,309 | 2,898 | 2,039 | S100TQR2 |
| FY ending Mar 2024 | 50,930 | 2,787 | 5.5% | 2,092 | 3,792 | 3,715 | S100W1NW |
| FY ending Mar 2025 | 46,632 | 2,423 | 5.2% | 1,790 | 3,945 | 3,895 | S100YG54 |
| FY ending Mar 2026 | 45,902 | 2,072 | 4.5% | 1,723 | 1,528 | 1,511 | S100YG54 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥136.6M |
| Operating income per employee (consolidated) | ¥6.2M |
| Net income per employee (consolidated) | ¥5.1M |

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) | 359 | 358 | 342 | 345 | 336 |
| Average salary (parent company) | ¥5.9M | ¥7.2M | ¥7.2M | ¥6.4M | ¥6.6M |
| Average age (parent company) | 41.0 years | 41.2 years | 41.4 years | 41.0 years | 41.4 years |
| Average tenure (parent company) | 16.3 years | 16.3 years | 16.6 years | 16.2 years | 16.7 years |

Year over year: Employees (consolidated) -2.6% · Revenue (consolidated) -1.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Sale of Electrical and Electronic Components | 45,454 | 99.0% | 2,087 | 4.6% |
| Manufacturing business | 448 | 1.0% | -15 | -3.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Sale of Electrical and Electronic Components | 99.0% | 100.0% | 1.0 | 4.6% |
| Manufacturing business | 1.0% | — | — | -3.4% |

Loss-making segment (excluded from profit shares): Manufacturing business -15 JPY mn

Segment → industry: Manufacturing business → Semiconductor Equipment / Sale of Electrical and Electronic Components → 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 | 1,528 | 3.3% | S100YG54 |
| Capital expenditure | 16 | 0.0% | S100YG54 |
| Free cash flow | 1,511 | 3.3% | 算出 |
| Investing cash flow | -1,983 | -4.3% | S100YG54 |
| Financing cash flow | -843 | -1.8% | S100YG54 |
| Dividends paid | 1,381 | 3.0% | S100YG54 |
| Change in cash | -1,295 | -2.8% | S100YG54 |
| Cash and equivalents | 6,820 | 14.9% | S100YG54 |

## 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 | 6,137 | 6,068 | 6,162 | 8,115 | 6,820 | S100TQR2, S100W1NW, S100YG54 |
| Total assets | 32,736 | 33,371 | 28,301 | 29,104 | 28,352 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Net assets | 17,627 | 18,611 | 18,467 | 18,694 | 16,759 | S100TQR2, S100W1NW, S100YG54 |
| Share capital | 1,819 | 1,819 | 1,819 | 1,819 | 1,819 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Inventories | — | 4,048 | 3,546 | 3,598 | 3,871 | S100TQR2, S100W1NW, S100YG54 |
| Property, plant and equipment | 4,475 | 4,655 | 4,573 | 4,458 | 4,269 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Intangible assets excluding goodwill | 114 | 163 | 161 | 129 | 103 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Investment securities | 395 | 552 | 574 | 424 | 357 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Current assets | 26,903 | 27,178 | 22,340 | 23,370 | 22,931 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Current liabilities | 13,925 | 13,267 | 8,035 | 9,080 | 10,496 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Trade payables | 6,198 | 5,567 | 3,312 | 3,749 | 5,239 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Short-term borrowings | 2,000 | 2,000 | — | — | 1,000 | S100RWBG, S100TQR2, S100YG54 |
| Long-term borrowings | — | 325 | 637 | 201 | 25 | S100TQR2, S100W1NW, S100YG54 |
| Total liabilities | 15,109 | 14,760 | 9,833 | 10,410 | 11,593 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Equity attributable to owners of parent | 17,552 | 18,470 | 18,237 | 18,553 | 16,604 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Retained earnings | 14,762 | 15,635 | 15,357 | 15,652 | 14,151 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |
| Treasury stock | -587 | -565 | -544 | -665 | -894 | S100RWBG, S100TQR2, S100W1NW, S100YG54 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 24% | S100YG54 |
| Inventories | 14% | S100YG54 |
| Property, plant and equipment | 15% | S100YG54 |
| Intangibles and goodwill | 0% | S100YG54 |
| Investment securities | 1% | S100YG54 |
| Other assets | 46% | S100YG54 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 19% | S100YG54 |
| Other liabilities | 22% | S100YG54 |
| Equity | 59% | S100YG54 |

### 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 | 32,736 | 33,371 | 28,301 | 29,104 | 28,352 |
| Equity | 17,627 | 18,611 | 18,467 | 18,694 | 16,759 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,137 | 6,068 | 6,162 | 8,115 | 6,820 |

## 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) | 9.3% | S100YG54 |
| Fixed assets ÷ total assets | 15.1% | S100YG54 |
| Goodwill ÷ parent equity | — | —, S100YG54 |

### 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) | 24.1% |
| Cash ÷ revenue | 14.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 73.7% |
| Cash vs. profit gap | -195 JPY mn (of net income -11.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 80.2% |
| Shareholder payments — dividends / FCF | 91.4% |
| CapEx intensity (capex ÷ revenue) | 0.0% |
| Investing CF relative to operating CF | 129.8% |

## 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 | 3.9% | 1.82× | 7.2% | 1.87× | 13.3% | S100RWBG |
| 2023 | 4.9% | 2.04× | 10.0% | 1.84× | 18.4% | S100TQR2 |
| 2024 | 4.1% | 1.65× | 6.8% | 1.68× | 11.4% | S100W1NW |
| 2025 | 3.8% | 1.62× | 6.2% | 1.56× | 9.7% | S100YG54 |
| 2026 | 3.8% | 1.60× | 6.0% | 1.63× | 9.8% | S100YG54 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社トレンド | Major shareholder | 11.2% | 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 | 8.2% | 2026-03-31 |
| 株式会社タァーツ | Major shareholder | 4.0% | 2026-03-31 |
| 鈴 木 敏 雄 | Major shareholder | 3.3% | 2026-03-31 |
| 岡 野 妙 子 | Major shareholder | 3.1% | 2026-03-31 |
| 鈴 木 達 夫 | Major shareholder | 2.7% | 2026-03-31 |
| 株式会社サンセイテクノス | 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 | 2.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託Ｅ口） | Major shareholder | 1.7% | 2026-03-31 |
| 岡 野 淳 志 | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第74期(2025/04/01－2026/03/31) | S100YG54 | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG54,, |
| 有価証券報告書－第73期(2024/04/01－2025/03/31) | S100W1NW | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1NW,, |
| 有価証券報告書－第72期(2023/04/01－2024/03/31) | S100TQR2 | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQR2,, |
| 訂正有価証券報告書－第71期(2022/04/01－2023/03/31) | S100RWBG | 2023-09-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWBG,, |
| 有価証券報告書－第70期(令和3年4月1日－令和4年3月31日) | S100OKEJ | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKEJ,, |
| 有価証券報告書 | S100LS1X | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LS1X,, |

## 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).