# TAKAMATSU MACHINERY CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第65期(2025/04/01－2026/03/31) (S100YOLD)
> Page: https://vizora.meequs.com/en/company/takamatsu-machinery
> Retrieved: 2026-09-30T19:12:59.965Z

## Company

Takamatsu Machinery, founded in 1961, is a company in Auto Parts listed on TSE Standard. It has 524 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKAMATSU MACHINERY CO., LTD. |
| Ticker | 6155 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6155.T) |
| Listing | TSE Standard |
| Head office | 石川県白山市旭丘1丁目8番地 |
| Representative (per filing) | 代表取締役社長 髙松 宗一郎 |
| Founded | Jul 1961 |
| Share capital | ¥1.83B |
| Employees (consolidated) | 524 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | March |
| Website | www.takamaz.co.jp (https://www.takamaz.co.jp/) |
| Corporate number | 6220001009228 |
| EDINET | E01510 |
| Industries (Vizora) | Auto Parts, Machine Tools, Industrial Machinery |

> Profile source: annual securities report (S100YOLD, filed 2026-07-03). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 10.3 | 34 |
| Profitability | 7.4 | 34 |
| Efficiency | 45.6 | 34 |

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 88% of Takamatsu Machinery's sales come from Machine tools, with IT related manufacturing equipment and Automobile car parts processing making up much of the rest.
- Operating profit was close to zero, a slight loss per ¥100 of sales.
- Revenue changed -8.4% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥12.7B |  |
| Operating income | -¥64M | Margin -0.5% |
| Net income | -¥164M | Margin -1.3% |
| Free cash flow | ¥442M |  |
| Largest business | Machine tools | of segment revenue 88.2% |
| Employees (consolidated) | 524 |  |
| EPS | ¥-11.79 |  |
| Book value per share | ¥1297.51 |  |
| Equity ratio | 78.1% |  |
| Shares outstanding | 11,020,000 |  |
| Treasury shares | 228,500 |  |
| Shareholders | 2,111 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 16.2% | Cash ÷ revenue 26.4% |
| Vs. industry median margin | -7.6 pp | Machine Tools |
| ROA | -0.8% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 85% of positive segment profit
- FY2026, segment profit share differs by 74 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13432000000 | ¥12722000000 | -5.3% |
| Operating income | ¥6000000 | ¥-64000000 | -1166.7% |
| Operating margin | 0.0% | -0.5% | -0.5 pp |
| Employees | 635 people | 524 people | -17.5% |
| Cash and equivalents | ¥4534000000 | ¥3364000000 | -25.8% |

### 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 |
| --- | ---: |
| 工作機械事業 → 工作機械事業 | 82.7% |
| IT関連製造装置事業 → IT関連製造装置事業 | 10.5% |
| IT関連製造装置事業 → 事業再編・廃止 | 1.7% |
| 自動車部品加工事業 → 自動車部品加工事業 | 1.3% |
| 自動車部品加工事業 → 事業再編・廃止 | 3.8% |
| 新設・再編 → 工作機械事業 | 5.5% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Machine tools | 5 years | +0.2% | ¥11215000000 | -1.4% | 2 |
| IT related manufacturing equipment | 5 years | -3.9% | ¥1338000000 | 5.8% | 2 |
| Automobile car parts processing | 5 years | -24.6% | ¥168000000 | 8.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 12,722 | 100.0% | S100YOLD |
| Cost of revenue | 9,426 | 74.1% | S100YOLD |
| Gross profit | 3,296 | 25.9% | S100YOLD |
| SG&A | 3,361 | 26.4% | S100YOLD |
| Operating income | -64 | -0.5% | S100YOLD |
| Ordinary income | -70 | -0.6% | S100YOLD |
| Pretax income | -37 | -0.3% | S100YOLD |
| Income tax | 127 | 1.0% | S100YOLD |
| Net income | -165 | -1.3% | S100YOLD |
| Net income attributable to owners | -164 | -1.3% | S100YOLD |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 74 |
| SG&A | 26 |
| Operating income | 0 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 25.9% → Operating margin -0.5% → Net margin -1.3%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 13,893 | 12,722 | -1,171 | -8.4% |
| Gross profit | 3,259 | 3,296 | 37 | +1.1% |
| Operating income | -160 | -64 | 96 | — |
| Net income attributable to owners | -645 | -164 | 481 | — |
| Operating cash flow | 1,447 | 554 | -893 | -61.7% |
| Free cash flow | 1,199 | 442 | -757 | -63.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 21,947 | 1,860 | 8.5% | 1,415 | 2,196 | 1,920 | S100LKVF |
| FY ending Mar 2021 | 13,432 | 6 | 0.0% | -115 | 1,682 | 1,557 | S100OJJT |
| FY ending Mar 2022 | 16,720 | 1,093 | 6.5% | 795 | 825 | -544 | S100R8PV |
| FY ending Mar 2023 | 16,675 | 516 | 3.1% | 489 | 96 | -2,137 | S100TT02 |
| FY ending Mar 2024 | 14,184 | -386 | -2.7% | -565 | -233 | -640 | S100W3N9 |
| FY ending Mar 2025 | 13,893 | -160 | -1.2% | -645 | 1,447 | 1,199 | S100YOLD |
| FY ending Mar 2026 | 12,722 | -64 | -0.5% | -164 | 554 | 442 | S100YOLD |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥24.3M |
| Operating income per employee (consolidated) | -¥122.1K |
| Net income per employee (consolidated) | -¥313K |

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) | 611 | 608 | 562 | 547 | 524 |
| Average salary (parent company) | ¥4.4M | ¥4.6M | ¥4.6M | ¥5M | ¥5.1M |
| Average age (parent company) | 37.6 years | 37.9 years | 38.9 years | 39.6 years | 40.2 years |
| Average tenure (parent company) | 13.0 years | 13.3 years | 14.2 years | 14.8 years | 15.3 years |

Year over year: Employees (consolidated) -4.2% · Revenue (consolidated) -8.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Machine tools | 11,215 | 88.2% | -156 | -1.4% |
| IT related manufacturing equipment | 1,338 | 10.5% | 77 | 5.8% |
| Automobile car parts processing | 168 | 1.3% | 14 | 8.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Machine tools | 88.2% | — | — | -1.4% |
| IT related manufacturing equipment | 10.5% | 84.6% | 74.1 | 5.8% |
| Automobile car parts processing | 1.3% | 15.4% | 14.1 | 8.3% |

Loss-making segment (excluded from profit shares): Machine tools -156 JPY mn

Segment → industry: Automobile car parts processing → Auto Parts / Machine tools → Machine Tools / IT related manufacturing equipment → Industrial Machinery

## 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 | 554 | 4.4% | S100YOLD |
| Capital expenditure | 112 | 0.9% | S100YOLD |
| Free cash flow | 442 | 3.5% | 算出 |
| Investing cash flow | -844 | -6.6% | S100YOLD |
| Financing cash flow | -582 | -4.6% | S100YOLD |
| Dividends paid | 107 | 0.8% | S100YOLD |
| Share buyback | 0 | 0.0% | S100YOLD |
| Change in cash | -811 | -6.4% | S100YOLD |
| Cash and equivalents | 3,364 | 26.4% | S100YOLD |

## 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 | 3,746 | 2,838 | 1,991 | 4,175 | 3,364 | S100TT02, S100W3N9, S100YOLD |
| Total assets | 25,363 | 23,998 | 22,313 | 21,904 | 20,828 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Net assets | 16,301 | 16,898 | 16,618 | 16,282 | 16,268 | S100TT02, S100W3N9, S100YOLD |
| Share capital | 1,835 | 1,835 | 1,835 | 1,835 | 1,835 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Property, plant and equipment | 7,560 | 7,360 | 6,925 | 6,687 | 6,173 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Intangible assets excluding goodwill | 44 | 71 | 139 | 114 | 82 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Investment securities | 1,216 | 1,290 | 1,168 | 1,116 | 1,246 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Current assets | 16,167 | 15,166 | 13,937 | 13,404 | 12,494 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Current liabilities | 8,069 | 6,189 | 5,105 | 3,788 | 2,882 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Trade payables | 1,350 | 1,174 | 960 | 861 | 753 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Short-term borrowings | 690 | 690 | 690 | 890 | 690 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Long-term borrowings | 285 | 235 | 185 | 767 | 517 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Total liabilities | 9,062 | 7,100 | 5,695 | 5,622 | 4,559 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Non-controlling interests | 4 | 5 | 5 | 6 | 6 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Equity attributable to owners of parent | 15,794 | 16,150 | 15,392 | 14,649 | 14,386 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Retained earnings | 12,340 | 12,689 | 11,971 | 11,218 | 10,941 | S100R8PV, S100TT02, S100W3N9, S100YOLD |
| Treasury stock | -169 | -156 | -192 | -178 | -163 | S100R8PV, S100TT02, S100W3N9, S100YOLD |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100YOLD |
| Property, plant and equipment | 30% | S100YOLD |
| Intangibles and goodwill | 0% | S100YOLD |
| Investment securities | 6% | S100YOLD |
| Other assets | 48% | S100YOLD |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YOLD |
| Other liabilities | 18% | S100YOLD |
| Equity | 78% | S100YOLD |
| Other liabilities | 0% | S100YOLD |

### 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 | 25,363 | 23,998 | 22,313 | 21,904 | 20,828 |
| Equity | 16,301 | 16,898 | 16,618 | 16,282 | 16,268 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,746 | 2,838 | 1,991 | 4,175 | 3,364 |

## 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) | 48.5% | S100YOLD |
| Fixed assets ÷ total assets | 29.6% | S100YOLD |
| Goodwill ÷ parent equity | — | —, S100YOLD |

### 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) | 16.2% |
| Cash ÷ revenue | 26.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 718 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | 24.2% |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | 24.2% |
| CapEx intensity (capex ÷ revenue) | 0.9% |
| Investing CF relative to operating CF | 152.3% |

## 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 | 4.8% | 0.66× | 3.1% | 1.61× | 5.0% | S100R8PV |
| 2023 | 2.9% | 0.68× | 2.0% | 1.55× | 3.1% | S100TT02 |
| 2024 | — | —× | -2.4% | —× | — | S100W3N9 |
| 2025 | — | —× | -2.9% | —× | — | S100YOLD |
| 2026 | — | —× | -0.8% | —× | — | S100YOLD |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 高松機械工業取引先持株会 | Major shareholder | 11.3% | 2026-03-31 |
| 株式会社タカマツ | Major shareholder | 8.9% | 2026-03-31 |
| 北國総合リース株式会社 | Major shareholder | 4.0% | 2026-03-31 |
| 株式会社北國銀行 | Major shareholder | 3.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 3.6% | 2026-03-31 |
| 株式会社朝日電機製作所 | Major shareholder | 3.4% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 3.3% | 2026-03-31 |
| 高松機械工業社員持株会 | Major shareholder | 3.1% | 2026-03-31 |
| 髙松 明毅 | Major shareholder | 3.0% | 2026-03-31 |
| 髙松 喜与志 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第65期(2025/04/01－2026/03/31) | S100YOLD | 2026-07-03 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YOLD,, |
| 有価証券報告書－第64期(2024/04/01－2025/03/31) | S100W3N9 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3N9,, |
| 有価証券報告書－第63期(2023/04/01－2024/03/31) | S100TT02 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TT02,, |
| 有価証券報告書－第62期(2022/04/01－2023/03/31) | S100R8PV | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8PV,, |
| 有価証券報告書－第61期(令和3年4月1日－令和4年3月31日) | S100OJJT | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJJT,, |
| 有価証券報告書－第60期(令和2年4月1日－令和3年3月31日) | S100LKVF | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LKVF,, |

## 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).