# Taiyo Kisokogyo Co.,Ltd.: business model and financials

> Latest period: FY ending Jan 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第59期(2025/02/01－2026/01/31) (S100Y01F)
> Page: https://vizora.meequs.com/en/company/taiyo-kisokogyo
> Retrieved: 2026-09-30T22:27:55.383Z

## Company

Taiyo Kisokogyo, founded in 1967, is a company in Electric Power & Gas listed on TSE Standard. It has 221 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Taiyo Kisokogyo Co.,Ltd. |
| Ticker | 1758 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1758.T) |
| Listing | TSE Standard |
| Head office | 名古屋市中川区柳森町107番地 |
| Representative (per filing) | 代表取締役社長 六鹿敏也 |
| Founded | May 1967 |
| Share capital | ¥456.3M |
| Employees (consolidated) | 221 |
| Average salary (parent only) | ¥6.3M |
| Fiscal year end | January |
| Website | www.taiyoukiso.co.jp (https://www.taiyoukiso.co.jp/) |
| Corporate number | 7180001019940 |
| EDINET | E00287 |
| Industries (Vizora) | Electric Power & Gas, Plant Engineering & Building Services, General Contractors, Construction & Farm Machinery |

> Profile source: annual securities report (S100Y01F, filed 2026-04-22). As of filing

## Five-axis industry profile

Primary industry: General Contractors (2026-01-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 24.4 | 84 |
| Profitability | 13.6 | 92 |
| Cash conversion | 74.2 | 91 |
| Efficiency | 70.1 | 92 |

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 48% of Taiyo Kisokogyo's sales come from Special engineering and other business, with Housing construction business and Construction making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +7.6% from the prior year, operating profit +224.0%.

## Company structure

- Segment revenue mix: Special engineering and other business 48.0%、Housing construction business 29.4%、Construction 15.8%、Environment-related construction business 6.5%、Renewable energy-related business 0.3%
- Revenue → net income: ¥14511488000 → ¥462977000
- Net income → operating cash flow: ¥462977000 → ¥898168000（difference ¥435191000）
- Main uses of operating cash flow: CapEx ¥372431000 / dividends ¥99280000 / buybacks —
- Change in cash: ¥649185000
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 | ¥14.5B |  |
| Operating income | ¥551.3M | Margin 3.8% |
| Net income | ¥463M | Margin 3.2% |
| Free cash flow | ¥525.7M |  |
| Largest business | Special engineering and other business | of segment revenue 48.0% |
| Employees (consolidated) | 221 |  |
| EPS | ¥232.19 |  |
| Book value per share | ¥4758.43 |  |
| Equity ratio | 76.3% |  |
| Shares outstanding | 2,458,800 |  |
| Treasury shares | 462,700 |  |
| Shareholders | 859 |  |
| Average salary (parent only) | ¥6.3M | Filing company only |
| Cash ratio | 29.1% | Cash ÷ revenue 24.9% |
| Vs. industry median margin | -3.1 pp | General Contractors |
| ROE | 5.4% | Derived from disclosed figures |
| ROA | 3.9% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 29% of total assets

## What changed in 5 years

| Metric | FY ending Jan 2021 | FY ending Jan 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13308092000 | ¥14511488000 | +9.0% |
| Operating income | ¥593353000 | ¥551290000 | -7.1% |
| Operating margin | 4.5% | 3.8% | -0.7 pp |
| Employees | 228 people | 221 people | -3.1% |
| Cash and equivalents | ¥2071039000 | ¥3619902000 | +74.8% |

### Change in segment revenue mix

Span: FY ending Jan 2021 → FY ending Jan 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 特殊土木工事等事業 → 特殊土木工事等事業 | 48.0% |
| 特殊土木工事等事業 → 事業再編・廃止 | 10.4% |
| 住宅関連工事事業 → 住宅関連工事事業 | 29.4% |
| 住宅関連工事事業 → 事業再編・廃止 | 2.3% |
| 建築事業 → 建築事業 | 9.3% |
| 機械製造販売等事業 → 機械製造販売等事業 | 0.1% |
| 機械製造販売等事業 → 事業再編・廃止 | 0.2% |
| 再生可能エネルギー等事業 → 再生可能エネルギー等事業 | 0.3% |
| 再生可能エネルギー等事業 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 環境関連工事事業 | 6.5% |
| 新設・再編 → 建築事業 | 6.5% |

Segment revenue source references: 11 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Special engineering and other business | 5 years | -2.2% | ¥6965484000 | 4.8% | 2 |
| Housing construction business | 5 years | +0.2% | ¥4266741000 | 3.7% | 2 |
| Construction | 5 years | +13.1% | ¥2290796000 | -1.6% | 2 |
| Environment-related construction business | 4 years | +8.4% | ¥939344000 | 7.8% | 2 |
| Renewable energy-related business | 5 years | -0.8% | ¥41772000 | 60.1% | 2 |
| Machine manufacturing and sales business | 5 years | -25.6% | ¥7348000 | 37.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 14,511 | 100.0% | S100Y01F |
| Cost of revenue | 13,084 | 90.2% | S100Y01F |
| Gross profit | 1,428 | 9.8% | S100Y01F |
| SG&A | 877 | 6.0% | S100Y01F |
| Operating income | 551 | 3.8% | S100Y01F |
| Ordinary income | 616 | 4.2% | S100Y01F |
| Pretax income | 620 | 4.3% | S100Y01F |
| Income tax | 157 | 1.1% | S100Y01F |
| Net income | 463 | 3.2% | S100Y01F |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 90 |
| SG&A | 6 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 9.8% → Operating margin 3.8% → Net margin 3.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.6%; Core profit growth: +224.0%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 29.34×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 13,482 | 14,511 | 1,029 | +7.6% |
| Gross profit | 1,155 | 1,428 | 273 | +23.7% |
| Operating income | 170 | 551 | 381 | +224.0% |
| Operating cash flow | 371 | 898 | 527 | +141.9% |
| Free cash flow | -90 | 526 | 615 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jan 2020 | 11,853 | 591 | 5.0% | 480 | 1,066 | 569 | S100L7GV |
| FY ending Jan 2021 | 13,308 | 593 | 4.5% | 436 | -419 | -1,239 | S100NXQ7 |
| FY ending Jan 2022 | 12,934 | 576 | 4.5% | 474 | 1,148 | 1,076 | S100QN33 |
| FY ending Jan 2023 | 14,710 | 797 | 5.4% | 614 | 191 | -248 | S100TBJE |
| FY ending Jan 2024 | 14,572 | 225 | 1.5% | 212 | 859 | 659 | S100VNMG |
| FY ending Jan 2025 | 13,482 | 170 | 1.3% | 230 | 371 | -90 | S100Y01F |
| FY ending Jan 2026 | 14,511 | 551 | 3.8% | 463 | 898 | 526 | S100Y01F |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥65.7M |
| Operating income per employee (consolidated) | ¥2.5M |
| Net income per employee (consolidated) | ¥2.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 227 | 221 | 216 | 220 | 221 |
| Average salary (parent company) | ¥5.8M | ¥5.8M | ¥5.9M | ¥6.1M | ¥6.3M |
| Average age (parent company) | 44.8 years | 45.1 years | 45.3 years | 45.6 years | 45.7 years |
| Average tenure (parent company) | 12.3 years | 12.4 years | 13.5 years | 13.6 years | 14.6 years |

Year over year: Employees (consolidated) +0.5% · Revenue (consolidated) +7.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Special engineering and other business | 6,965 | 48.0% | 332 | 4.8% |
| Housing construction business | 4,267 | 29.4% | 156 | 3.7% |
| Environment-related construction business | 939 | 6.5% | 73 | 7.8% |
| Construction | 2,291 | 15.8% | -37 | -1.6% |
| Machine manufacturing and sales business | 7 | 0.1% | 3 | 37.5% |
| Renewable energy-related business | 42 | 0.3% | 25 | 60.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Special engineering and other business | 48.0% | 56.4% | 8.4 | 4.8% |
| Housing construction business | 29.4% | 26.5% | -2.9 | 3.7% |
| Environment-related construction business | 6.5% | 12.4% | 5.9 | 7.8% |
| Construction | 15.8% | — | — | -1.6% |
| Machine manufacturing and sales business | 0.1% | 0.5% | 0.4 | 37.5% |
| Renewable energy-related business | 0.3% | 4.3% | 4.0 | 60.1% |

Loss-making segment (excluded from profit shares): Construction -37 JPY mn

Segment → industry: Renewable energy-related business → Electric Power & Gas / Environment-related construction business → Plant Engineering & Building Services / Construction → General Contractors / Housing construction business → General Contractors / Special engineering and other business → General Contractors / Machine manufacturing and sales business → Construction & Farm Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jan 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 898 | 6.2% | S100Y01F |
| Capital expenditure | 372 | 2.6% | S100Y01F |
| Free cash flow | 526 | 3.6% | 算出 |
| Investing cash flow | -159 | -1.1% | S100Y01F |
| Financing cash flow | -90 | -0.6% | S100Y01F |
| Dividends paid | 99 | 0.7% | S100Y01F |
| Change in cash | 649 | 4.5% | S100Y01F |
| Cash and equivalents | 3,620 | 24.9% | S100Y01F |

## 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 Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,982 | 3,237 | 3,255 | 2,971 | 3,620 | S100TBJE, S100VNMG, S100Y01F |
| Total assets | 10,556 | 12,172 | 11,640 | 11,531 | 12,445 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Net assets | 7,869 | 8,620 | 8,715 | 8,842 | 9,498 | S100TBJE, S100VNMG, S100Y01F |
| Share capital | 456 | 456 | 456 | 456 | 456 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Property, plant and equipment | 1,994 | 2,151 | 2,193 | 1,972 | 2,075 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Intangible assets excluding goodwill | 17 | 15 | 19 | 17 | 14 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Investment securities | 1,110 | 1,396 | 1,789 | 1,566 | 1,932 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Current assets | 6,998 | 8,242 | 7,300 | 7,604 | 8,074 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Current liabilities | 2,244 | 2,855 | 2,386 | 2,244 | 2,363 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Long-term borrowings | — | 244 | 111 | — | 83 | S100TBJE, S100VNMG, S100Y01F |
| Total liabilities | 2,687 | 3,552 | 2,925 | 2,689 | 2,947 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Equity attributable to owners of parent | 7,666 | 8,324 | 8,187 | 8,348 | 8,722 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Retained earnings | 7,320 | 7,879 | 8,021 | 8,181 | 8,544 | S100QN33, S100TBJE, S100VNMG, S100Y01F |
| Treasury stock | -508 | -435 | -739 | -739 | -728 | S100QN33, S100TBJE, S100VNMG, S100Y01F |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100Y01F |
| Property, plant and equipment | 17% | S100Y01F |
| Intangibles and goodwill | 0% | S100Y01F |
| Investment securities | 15% | S100Y01F |
| Other assets | 39% | S100Y01F |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100Y01F |
| Equity | 76% | S100Y01F |
| Other liabilities | 0% | S100Y01F |

### Balance sheet history

| Metric | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 10,556 | 12,172 | 11,640 | 11,531 | 12,445 |
| Equity | 7,869 | 8,620 | 8,715 | 8,842 | 9,498 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,982 | 3,237 | 3,255 | 2,971 | 3,620 |

## 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) | 14.3% | S100Y01F |
| Fixed assets ÷ total assets | 16.7% | S100Y01F |
| Goodwill ÷ parent equity | — | —, S100Y01F |

### 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) | 29.1% |
| Cash ÷ revenue | 24.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 162.9% |
| Cash vs. profit gap | 435 JPY mn (of net income 94.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 21.4% |
| Shareholder payments — dividends / FCF | 18.9% |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | 17.7% |

## 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 | 3.7% | 1.23× | 4.5% | 1.38× | 6.2% | S100QN33 |
| 2023 | 4.2% | 1.29× | 5.4% | 1.42× | 7.7% | S100TBJE |
| 2024 | 1.5% | 1.22× | 1.8% | 1.44× | 2.6% | S100VNMG |
| 2025 | 1.7% | 1.16× | 2.0% | 1.40× | 2.8% | S100Y01F |
| 2026 | 3.2% | 1.21× | 3.9% | 1.40× | 5.4% | S100Y01F |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 豊 住 清 | Major shareholder | 28.5% | 2026-01-31 |
| 太洋基礎工業取引先持株会 | Major shareholder | 6.5% | 2026-01-31 |
| ㈱あいち銀行 | Major shareholder | 4.5% | 2026-01-31 |
| 岐阜信用金庫 | Major shareholder | 3.3% | 2026-01-31 |
| 太洋基礎工業従業員持株会 | Major shareholder | 3.2% | 2026-01-31 |
| 日本エコシステム㈱ | Major shareholder | 3.1% | 2026-01-31 |
| 瀧上工業㈱ | Major shareholder | 3.1% | 2026-01-31 |
| ㈱三東工業社 | Major shareholder | 3.0% | 2026-01-31 |
| 徳倉建設㈱ | Major shareholder | 2.9% | 2026-01-31 |
| 内藤征吾 | Major shareholder | 2.6% | 2026-01-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第59期(2025/02/01－2026/01/31) | S100Y01F | 2026-04-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y01F,, |
| 有価証券報告書－第58期(2024/02/01－2025/01/31) | S100VNMG | 2025-04-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VNMG,, |
| 有価証券報告書－第57期(2023/02/01－2024/01/31) | S100TBJE | 2024-04-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TBJE,, |
| 有価証券報告書－第56期(2022/02/01－2023/01/31) | S100QN33 | 2023-04-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QN33,, |
| 有価証券報告書－第55期(令和3年2月1日－令和4年1月31日) | S100NXQ7 | 2022-04-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NXQ7,, |
| 有価証券報告書－第54期(令和2年2月1日－令和3年1月31日) | S100L7GV | 2021-04-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L7GV,, |

## 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).