# tacmina 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50期(2025/04/01－2026/03/31) (S100YFBY)
> Page: https://vizora.meequs.com/en/company/tacmina
> Retrieved: 2026-09-30T20:24:35.835Z

## Company

tacmina, founded in 1966, is a company in Industrial Machinery listed on TSE Standard. It has 324 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TACMINA CORPORATION |
| Ticker | 6322 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6322.T) |
| Listing | TSE Standard |
| Head office | 大阪市中央区淡路町二丁目2番14号 |
| Representative (per filing) | 代表取締役社長 山田 圭祐 |
| Founded | Jul 1966 |
| Share capital | ¥893M |
| Employees (consolidated) | 324 |
| Average salary (parent only) | ¥6.9M |
| Fiscal year end | March |
| Website | www.tacmina.co.jp (https://www.tacmina.co.jp/) |
| Corporate number | 1120001083948 |
| EDINET | E01711 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YFBY, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 43.2 | 110 |
| Profitability | 84.8 | 122 |
| Cash conversion | 26.3 | 116 |
| Efficiency | 57.8 | 122 |

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)

- tacmina brought in ¥11.2B in revenue.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed +0.3% from the prior year, operating profit +1.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥11155508000 → ¥1231391000
- Net income → operating cash flow: ¥1231391000 → ¥1110363000（difference ¥-121028000）
- Main uses of operating cash flow: CapEx ¥355833000 / dividends ¥344721000 / buybacks —
- Change in cash: ¥-157961000
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 | ¥11.2B |  |
| Operating income | ¥1.63B | Margin 14.6% |
| Net income | ¥1.23B | Margin 11.0% |
| Free cash flow | ¥754.5M |  |
| Employees (consolidated) | 324 |  |
| EPS | ¥161.27 |  |
| Book value per share | ¥1527.2 |  |
| Equity ratio | 78.3% |  |
| Shares outstanding | 7,728,540 |  |
| Treasury shares | 819,300 |  |
| Shareholders | 1,657 |  |
| Average salary (parent only) | ¥6.9M | Filing company only |
| Cash ratio | 20.3% | Cash ÷ revenue 26.5% |
| Vs. industry median margin | +7 pp | Industrial Machinery |
| ROE | 12.1% | Derived from disclosed figures |
| ROA | 8.4% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -1% while operating income rose 2%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8269988000 | ¥11155508000 | +34.9% |
| Operating income | ¥841555000 | ¥1630839000 | +93.8% |
| Operating margin | 10.2% | 14.6% | +4.4 pp |
| Employees | 300 people | 324 people | +8.0% |
| Cash and equivalents | ¥3292029000 | ¥2957504000 | -10.2% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 11,156 | 100.0% | S100YFBY |
| Cost of revenue | 5,996 | 53.7% | S100YFBY |
| Gross profit | 5,159 | 46.3% | S100YFBY |
| SG&A | 3,529 | 31.6% | S100YFBY |
| Operating income | 1,631 | 14.6% | S100YFBY |
| Ordinary income | 1,703 | 15.3% | S100YFBY |
| Pretax income | 1,683 | 15.1% | S100YFBY |
| Income tax | 451 | 4.0% | S100YFBY |
| Net income | 1,231 | 11.0% | S100YFBY |
| Net income attributable to owners | 1,231 | 11.0% | S100YFBY |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 54 |
| SG&A | 32 |
| Operating income | 14 |
| (Ref.) Net income | 11 |

### Margin funnel

Gross margin 46.3% → Operating margin 14.6% → Net margin 11.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +0.3%; Core profit growth: +1.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 5.28×
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 | 11,119 | 11,156 | 36 | +0.3% |
| Gross profit | 5,191 | 5,159 | -31 | -0.6% |
| Operating income | 1,603 | 1,631 | 28 | +1.7% |
| Net income attributable to owners | 1,217 | 1,231 | 14 | +1.1% |
| Operating cash flow | 999 | 1,110 | 111 | +11.2% |
| Free cash flow | 525 | 755 | 229 | +43.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 8,415 | 1,000 | 11.9% | 715 | 1,341 | 1,133 | S100LJTZ |
| FY ending Mar 2021 | 8,270 | 842 | 10.2% | 590 | 1,135 | 1,063 | S100OE0X |
| FY ending Mar 2022 | 8,676 | 1,218 | 14.0% | 880 | 757 | 577 | S100QZQG |
| FY ending Mar 2023 | 9,745 | 1,459 | 15.0% | 1,060 | 900 | 630 | S100TN8T |
| FY ending Mar 2024 | 11,016 | 1,583 | 14.4% | 1,196 | 1,136 | 702 | S100VYQY |
| FY ending Mar 2025 | 11,119 | 1,603 | 14.4% | 1,217 | 999 | 525 | S100YFBY |
| FY ending Mar 2026 | 11,156 | 1,631 | 14.6% | 1,231 | 1,110 | 755 | S100YFBY |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.4M |
| Operating income per employee (consolidated) | ¥5M |
| Net income per employee (consolidated) | ¥3.8M |

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) | 297 | 305 | 318 | 328 | 324 |
| Average salary (parent company) | ¥6.2M | ¥6.5M | ¥6.7M | ¥6.8M | ¥6.9M |
| Average age (parent company) | 39.8 years | 40.3 years | 40.4 years | 40.0 years | 39.9 years |
| Average tenure (parent company) | 14.2 years | 14.9 years | 14.7 years | 14.3 years | 14.1 years |

Year over year: Employees (consolidated) -1.2% · Revenue (consolidated) +0.3%

## 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 | 1,110 | 10.0% | S100YFBY |
| Capital expenditure | 356 | 3.2% | S100YFBY |
| Free cash flow | 755 | 6.8% | 算出 |
| Investing cash flow | -899 | -8.1% | S100YFBY |
| Financing cash flow | -381 | -3.4% | S100YFBY |
| Dividends paid | 345 | 3.1% | S100YFBY |
| Change in cash | -158 | -1.4% | S100YFBY |
| Cash and equivalents | 2,958 | 26.5% | S100YFBY |

## 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 | 3,444 | 3,614 | 3,897 | 3,115 | 2,958 | S100TN8T, S100VYQY, S100YFBY |
| Total assets | 12,092 | 13,714 | 14,908 | 14,730 | 14,534 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Net assets | 8,118 | 8,972 | 10,023 | 10,298 | 11,380 | S100TN8T, S100VYQY, S100YFBY |
| Share capital | 893 | 893 | 893 | 893 | 893 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Property, plant and equipment | 2,218 | 2,371 | 2,364 | 2,496 | 2,496 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Intangible assets excluding goodwill | 147 | 165 | 199 | 148 | 222 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Investment securities | 976 | 1,165 | 1,459 | 1,888 | 1,961 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Current assets | 8,120 | 9,368 | 10,310 | 9,595 | 9,362 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Current liabilities | 3,102 | 3,493 | 3,716 | 3,672 | 2,072 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Trade payables | 697 | 875 | 733 | 851 | 614 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Short-term borrowings | 38 | 38 | 38 | 38 | 8 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Long-term borrowings | — | 350 | 350 | — | 350 | S100TN8T, S100VYQY, S100YFBY |
| Total liabilities | 3,975 | 4,742 | 4,884 | 4,432 | 3,154 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Equity attributable to owners of parent | 7,867 | 8,618 | 9,438 | 9,701 | 10,611 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Retained earnings | 6,528 | 7,263 | 8,060 | 8,915 | 9,802 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |
| Treasury stock | -306 | -298 | -289 | -897 | -882 | S100QZQG, S100TN8T, S100VYQY, S100YFBY |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YFBY |
| Property, plant and equipment | 17% | S100YFBY |
| Intangibles and goodwill | 2% | S100YFBY |
| Investment securities | 14% | S100YFBY |
| Other assets | 47% | S100YFBY |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YFBY |
| Other liabilities | 18% | S100YFBY |
| Equity | 78% | S100YFBY |
| Other liabilities | 0% | S100YFBY |

### 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 | 12,092 | 13,714 | 14,908 | 14,730 | 14,534 |
| Equity | 8,118 | 8,972 | 10,023 | 10,298 | 11,380 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,444 | 3,614 | 3,897 | 3,115 | 2,958 |

## 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) | 22.4% | S100YFBY |
| Fixed assets ÷ total assets | 17.2% | S100YFBY |
| Goodwill ÷ parent equity | — | —, S100YFBY |

### 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) | 20.3% |
| Cash ÷ revenue | 26.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 68.1% |
| Cash vs. profit gap | -121 JPY mn (of net income -9.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 28.0% |
| Shareholder payments — dividends / FCF | 45.7% |
| CapEx intensity (capex ÷ revenue) | 3.2% |
| Investing CF relative to operating CF | 81.0% |

## 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 | 10.1% | 0.72× | 7.3% | 1.54× | 11.2% | S100QZQG |
| 2023 | 10.9% | 0.76× | 8.2% | 1.57× | 12.9% | S100TN8T |
| 2024 | 10.9% | 0.77× | 8.4% | 1.59× | 13.2% | S100VYQY |
| 2025 | 10.9% | 0.75× | 8.2% | 1.55× | 12.7% | S100YFBY |
| 2026 | 11.0% | 0.76× | 8.4% | 1.44× | 12.1% | S100YFBY |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| タクミナ共栄持株会 | Major shareholder | 13.7% | 2026-03-31 |
| 合同会社Ｎ．Ｋ．Ｆｒｅｕｄｅｌ | Major shareholder | 7.8% | 2026-03-31 |
| 山田 義彦 | Major shareholder | 7.5% | 2026-03-31 |
| ＣＨＡＲＯＮ ＦＩＮＡＮＣＥ ＧＭＢＨ （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 4.9% | 2026-03-31 |
| タクミナ社員持株会 | Major shareholder | 4.3% | 2026-03-31 |
| 山田 信彦 | Major shareholder | 3.5% | 2026-03-31 |
| 山田 幸子 | Major shareholder | 2.0% | 2026-03-31 |
| 熊谷 景子 | Major shareholder | 2.0% | 2026-03-31 |
| 山田 裕子 | Major shareholder | 2.0% | 2026-03-31 |
| 大西 久美子 | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第50期(2025/04/01－2026/03/31) | S100YFBY | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFBY,, |
| 有価証券報告書－第49期(2024/04/01－2025/03/31) | S100VYQY | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYQY,, |
| 有価証券報告書－第48期(2023/04/01－2024/03/31) | S100TN8T | 2024-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TN8T,, |
| 有価証券報告書－第47期(2022/04/01－2023/03/31) | S100QZQG | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZQG,, |
| 有価証券報告書－第46期(令和3年4月1日－令和4年3月31日) | S100OE0X | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OE0X,, |
| 有価証券報告書－第45期(令和2年4月1日－令和3年3月31日) | S100LJTZ | 2021-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LJTZ,, |

## 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).