# Taka-Q Co.,Ltd.: business model and financials

> Latest period: FY ending Feb 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第77期(2025/03/01－2026/02/28) (S100Y4PA)
> Page: https://vizora.meequs.com/en/company/taka-q
> Retrieved: 2026-09-30T19:50:56.761Z

## Company

Taka-Q, founded in 1950, is a company in Apparel listed on TSE Standard. It has 273 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Taka-Q Co., Ltd. |
| Ticker | 8166 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8166.T) |
| Listing | TSE Standard |
| Head office | 東京都板橋区板橋三丁目9番7号 |
| Representative (per filing) | 代表取締役 社長執行役員 伊藤 健治 |
| Founded | Jun 1950 |
| Share capital | ¥100M |
| Employees (consolidated) | 273 |
| Average salary (parent only) | ¥3.8M |
| Fiscal year end | February |
| Website | online.taka-q.jp (https://online.taka-q.jp/) |
| Corporate number | 5011401003916 |
| EDINET | E03093 |
| Industries (Vizora) | Apparel |

> Profile source: annual securities report (S100Y4PA, filed 2026-05-18). As of filing

## Five-axis industry profile

Primary industry: Apparel (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 8.2 | 55 |
| Profitability | 25.4 | 61 |
| Cash conversion | 3.2 | 47 |
| Efficiency | 71.3 | 61 |

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)

- Taka-Q brought in ¥8.67B in revenue.
- Operating profit was close to zero, a slight profit per ¥100 of sales.
- Revenue changed -10.2% from the prior year, operating profit -90.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥8.67B |  |
| Operating income | ¥19.7M | Margin 0.2% |
| Net income | ¥1.12B | Margin 13.0% |
| Free cash flow | -¥315.5M |  |
| Employees (consolidated) | 273 |  |
| EPS | ¥38.21 |  |
| Diluted EPS | ¥12.12 |  |
| Book value per share | ¥28.58 |  |
| Equity ratio | 32.7% |  |
| Shares outstanding | 33,770,822 |  |
| Treasury shares | 105,938 |  |
| Shareholders | 18,020 |  |
| Average salary (parent only) | ¥3.8M | Filing company only |
| Cash ratio | 33.7% | Cash ÷ revenue 23.5% |
| Vs. industry median margin | -2.8 pp | Apparel |
| ROE | 82.8% | Derived from disclosed figures |
| ROA | 19.1% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 34% of total assets

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥14601957000 | ¥8666899000 | -40.6% |
| Operating income | ¥-3400098000 | ¥19655000 | — |
| Operating margin | -23.3% | 0.2% | +23.5 pp |
| Employees | 664 people | 273 people | -58.9% |
| Cash and equivalents | ¥631087000 | ¥2039848000 | +223.2% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,667 | 100.0% | S100Y4PA |
| Cost of revenue | 3,307 | 38.2% | 算出 |
| Gross profit | 5,360 | 61.8% | S100Y4PA |
| SG&A | 5,340 | 61.6% | S100Y4PA |
| Operating income | 20 | 0.2% | S100Y4PA |
| Ordinary income | 134 | 1.6% | S100Y4PA |
| Pretax income | 1,265 | 14.6% | S100Y4PA |
| Income tax | 143 | 1.6% | S100Y4PA |
| Net income | 1,123 | 13.0% | S100Y4PA |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 38 |
| SG&A | 62 |
| Operating income | 0 |
| (Ref.) Net income | 13 |

### Margin funnel

Gross margin 61.8% → Operating margin 0.2% → Net margin 13.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -10.2%; Core profit growth: -90.3%
Operating leverage (core profit growth ÷ revenue growth): 8.87×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 9,650 | 8,667 | -983 | -10.2% |
| Gross profit | 5,883 | 5,360 | -524 | -8.9% |
| Operating income | 204 | 20 | -184 | -90.3% |
| Operating cash flow | -98 | -150 | -52 | — |
| Free cash flow | -208 | -316 | -108 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 22,381 | -432 | -1.9% | -1,052 | -128 | -569 | S100LDOG |
| FY ending Feb 2021 | 14,602 | -3,400 | -23.3% | -3,139 | -1,458 | -1,645 | S100O4YU |
| FY ending Feb 2022 | 12,140 | -2,154 | -17.7% | -2,146 | -2,219 | -2,313 | S100QUAT |
| FY ending Feb 2023 | 11,976 | -785 | -6.6% | -1,050 | 150 | -43 | S100TLCZ |
| FY ending Feb 2024 | 10,027 | -41 | -0.4% | -102 | -258 | -324 | S100VSQB |
| FY ending Feb 2025 | 9,650 | 204 | 2.1% | 1,969 | -98 | -208 | S100Y4PA |
| FY ending Feb 2026 | 8,667 | 20 | 0.2% | 1,123 | -150 | -316 | S100Y4PA |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥31.7M |
| Operating income per employee (consolidated) | ¥72K |
| Net income per employee (consolidated) | ¥4.1M |

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

| History | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 548 | 440 | 298 | 276 | 273 |
| Average salary (parent company) | ¥3.5M | ¥3.7M | ¥3.7M | ¥3.8M | ¥3.8M |
| Average age (parent company) | 41.9 years | 44.0 years | 45.1 years | 47.1 years | 48.0 years |
| Average tenure (parent company) | 15.0 years | 17.0 years | 19.0 years | 21.0 years | 20.0 years |

Year over year: Employees (consolidated) -1.1% · Revenue (consolidated) -10.2%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -150 | -1.7% | S100Y4PA |
| Capital expenditure | 165 | 1.9% | S100Y4PA |
| Free cash flow | -316 | -3.6% | 算出 |
| Investing cash flow | 1,105 | 12.8% | S100Y4PA |
| Financing cash flow | -294 | -3.4% | S100Y4PA |
| Dividends paid | 15 | 0.2% | S100Y4PA |
| Change in cash | 661 | 7.6% | S100Y4PA |
| Cash and equivalents | 2,040 | 23.5% | S100Y4PA |

## 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,586 | 1,489 | 1,130 | 1,378 | 2,040 | S100TLCZ, S100VSQB, S100Y4PA |
| Total assets | 8,009 | 6,407 | 5,611 | 5,692 | 6,055 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Net assets | -877 | -1,934 | -1,916 | 1,076 | 1,989 | S100TLCZ, S100VSQB, S100Y4PA |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Property, plant and equipment | 373 | 238 | 144 | 125 | 122 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Intangible assets excluding goodwill | 312 | 340 | 281 | 257 | 356 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Investment securities | — | — | — | 655 | — | S100Y4PA |
| Current assets | 5,008 | 3,916 | 3,323 | 3,507 | 4,338 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Current liabilities | 6,504 | 6,222 | 5,472 | 1,795 | 1,623 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Short-term borrowings | 2,990 | 2,873 | 2,873 | — | — | S100QUAT, S100TLCZ, S100VSQB |
| Long-term borrowings | 1,154 | 1,080 | 996 | 1,991 | 1,618 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Total liabilities | 8,886 | 8,341 | 7,526 | 4,616 | 4,066 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Equity attributable to owners of parent | -1,087 | -2,138 | -2,240 | 729 | 1,982 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Retained earnings | -3,629 | -4,680 | -4,782 | 656 | 1,763 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |
| Treasury stock | -26 | -27 | -27 | -27 | -27 | S100QUAT, S100TLCZ, S100VSQB, S100Y4PA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 34% | S100Y4PA |
| Property, plant and equipment | 2% | S100Y4PA |
| Intangibles and goodwill | 6% | S100Y4PA |
| Other assets | 58% | S100Y4PA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 67% | S100Y4PA |
| Equity | 33% | S100Y4PA |
| Other liabilities | 0% | S100Y4PA |

### Balance sheet history

| Metric | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 8,009 | 6,407 | 5,611 | 5,692 | 6,055 |
| Equity | -877 | -1,934 | -1,916 | 1,076 | 1,989 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,586 | 1,489 | 1,130 | 1,378 | 2,040 |

## 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) | 1.4% | S100Y4PA |
| Fixed assets ÷ total assets | 2.0% | S100Y4PA |
| Goodwill ÷ parent equity | — | —, S100Y4PA |

### 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) | 33.7% |
| Cash ÷ revenue | 23.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -764.7% |
| Cash vs. profit gap | -1,273 JPY mn (of net income -113.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 1.4% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.9% |
| Investing CF relative to operating CF | — |

## 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 | — | —× | -26.8% | —× | — | S100QUAT |
| 2023 | — | —× | -14.6% | —× | — | S100TLCZ |
| 2024 | — | —× | -1.7% | —× | — | S100VSQB |
| 2025 | — | —× | 34.8% | —× | — | S100Y4PA |
| 2026 | 13.0% | 1.48× | 19.1% | 4.33× | 82.8% | S100Y4PA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| イオン株式会社 | Major shareholder | 14.8% | 2026-02-28 |
| 株式会社エムツウ | Major shareholder | 7.4% | 2026-02-28 |
| GPバイアウトP投資事業有限責任組合 | Major shareholder | 4.4% | 2026-02-28 |
| GP上場企業出資投資事業有限責任組合 | Major shareholder | 4.2% | 2026-02-28 |
| タカキュー取引先持株会 | Major shareholder | 0.8% | 2026-02-28 |
| 一般財団法人高久国際奨学財団 | Major shareholder | 0.7% | 2026-02-28 |
| みずほ証券株式会社 | Major shareholder | 0.5% | 2026-02-28 |
| 船津 光司 | Major shareholder | 0.5% | 2026-02-28 |
| 福山 哲博 | Major shareholder | 0.5% | 2026-02-28 |
| 高久 眞佐子 | Major shareholder | 0.5% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第77期(2025/03/01－2026/02/28) | S100Y4PA | 2026-05-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y4PA,, |
| 有価証券報告書－第76期(2024/03/01－2025/02/28) | S100VSQB | 2025-05-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VSQB,, |
| 訂正有価証券報告書－第75期(2023/03/01－2024/02/29) | S100TLCZ | 2024-06-11 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TLCZ,, |
| 有価証券報告書－第74期(2022/03/01－2023/02/28) | S100QUAT | 2023-05-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QUAT,, |
| 有価証券報告書－第73期(令和3年3月1日－令和4年2月28日) | S100O4YU | 2022-05-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O4YU,, |
| 有価証券報告書－第72期(令和2年3月1日－令和3年2月28日) | S100LDOG | 2021-05-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LDOG,, |

## 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).