# TAKAMISAWA CO., LTD.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第75期(2024/07/01－2025/06/30) (S100WQGP)
> Page: https://vizora.meequs.com/en/company/takamisawa
> Retrieved: 2026-09-30T19:10:16.753Z

## Company

Takamisawa, founded in 1951, is a company in Oil Refining & Fuels listed on TSE Standard. It has 1,054 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKAMISAWA CO., LTD. |
| Ticker | 5283 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5283.T) |
| Listing | TSE Standard |
| Head office | 長野県長野市大字鶴賀字苗間平1605番地14 |
| Representative (per filing) | 代表取締役社長 髙見澤 秀茂 |
| Founded | Mar 1951 |
| Share capital | ¥1.26B |
| Employees (consolidated) | 1,054 |
| Average salary (parent only) | ¥5.5M |
| Fiscal year end | June |
| Website | www.kk-takamisawa.co.jp (https://www.kk-takamisawa.co.jp/) |
| Corporate number | 9100001001879 |
| EDINET | E01208 |
| Industries (Vizora) | Oil Refining & Fuels, Cement & Concrete, General Contractors, Specialty Trading & Wholesale, Car Dealers & Used Cars |

> Profile source: annual securities report (S100WQGP, filed 2025-09-24). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 31.6 | 179 |
| Profitability | 33.2 | 185 |
| Cash conversion | 91.9 | 179 |
| Efficiency | 67.8 | 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 59% of Takamisawa's sales come from the electrical equipment material industry, with the oil and automotive industry and the construction-related industry making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +3.1% from the prior year, operating profit -19.2%.

## Company structure

- Segment revenue mix: the electrical equipment material industry 58.7%、the oil and automotive industry 27.5%、the construction-related industry 13.8%
- Revenue → net income: ¥73567000000 → ¥678000000
- Net income → operating cash flow: ¥678000000 → ¥3748000000（difference ¥3070000000）
- Main uses of operating cash flow: CapEx ¥3157000000 / dividends ¥82000000 / buybacks ¥55000000
- Change in cash: ¥982000000
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 | ¥73.6B |  |
| Operating income | ¥1.46B | Margin 2.0% |
| Net income | ¥670M | Margin 0.9% |
| Free cash flow | ¥591M |  |
| Largest business | the electrical equipment material industry | of segment revenue 58.7% |
| Employees (consolidated) | 1,054 |  |
| EPS | ¥108.7 |  |
| Book value per share | ¥4960.02 |  |
| Equity ratio | 37.4% |  |
| Shares outstanding | 1,758,400 |  |
| Treasury shares | 106,300 |  |
| Shareholders | 1,166 |  |
| Average salary (parent only) | ¥5.5M | Filing company only |
| Cash ratio | 9.9% | Cash ÷ revenue 5.2% |
| Vs. industry median margin | -0.9 pp | Specialty Trading & Wholesale |
| ROE | 5.0% | Derived from disclosed figures |
| ROA | 1.7% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 5.6× net income
- FY2025, one segment accounts for 69% of positive segment profit

## What changed in 5 years

| Metric | FY ending Jun 2020 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥62519000000 | ¥73567000000 | +17.7% |
| Operating income | ¥1077000000 | ¥1457000000 | +35.3% |
| Operating margin | 1.7% | 2.0% | +0.3 pp |
| Employees | 966 people | 1,054 people | +9.1% |
| Cash and equivalents | ¥2934000000 | ¥3856000000 | +31.4% |

### Change in segment revenue mix

Span: FY ending Jun 2020 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 建設関連 → 建設関連 | 13.8% |
| 建設関連 → 事業再編・廃止 | 5.1% |
| 電設資材 → 電設資材 | 46.5% |
| カーライフ関連 → カーライフ関連 | 22.4% |
| 住宅・生活関連 → 事業再編・廃止 | 12.3% |
| 新設・再編 → 電設資材 | 12.2% |
| 新設・再編 → カーライフ関連 | 5.1% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| the electrical equipment material industry | 5 years | +5.7% | ¥38320000000 | 2.6% | 2 |
| the oil and automotive industry | 5 years | +5.1% | ¥17974000000 | 0.8% | 2 |
| the construction-related industry | 5 years | -5.3% | ¥9007000000 | 3.5% | 2 |

## Income statement（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 73,567 | 100.0% | S100WQGP |
| Cost of revenue | 61,181 | 83.2% | S100WQGP |
| Gross profit | 12,385 | 16.8% | S100WQGP |
| SG&A | 10,928 | 14.9% | S100WQGP |
| Operating income | 1,457 | 2.0% | S100WQGP |
| Ordinary income | 1,670 | 2.3% | S100WQGP |
| Pretax income | 1,125 | 1.5% | S100WQGP |
| Income tax | 447 | 0.6% | S100WQGP |
| Net income | 678 | 0.9% | S100WQGP |
| Net income attributable to owners | 670 | 0.9% | S100WQGP |

## Per ¥100 of revenue（FY ending Jun 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 83 |
| SG&A | 15 |
| Operating income | 2 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 16.8% → Operating margin 2.0% → Net margin 0.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +3.1%; Core profit growth: -19.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -6.23×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2024 → FY ending Jun 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 71,369 | 73,567 | 2,198 | +3.1% |
| Gross profit | 12,178 | 12,385 | 207 | +1.7% |
| Operating income | 1,803 | 1,457 | -346 | -19.2% |
| Net income attributable to owners | 759 | 670 | -89 | -11.7% |
| Operating cash flow | 1,476 | 3,748 | 2,272 | +153.9% |
| Free cash flow | 294 | 591 | 297 | +101.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2019 | 64,322 | 999 | 1.6% | 624 | 1,101 | -394 | S100JSCR |
| FY ending Jun 2020 | 62,519 | 1,077 | 1.7% | 814 | 2,750 | 1,741 | S100MI7W |
| FY ending Jun 2021 | 63,270 | 1,453 | 2.3% | 1,014 | 1,483 | 191 | S100P9RR |
| FY ending Jun 2022 | 63,367 | 1,088 | 1.7% | 621 | 1,127 | 479 | S100RXCC |
| FY ending Jun 2023 | 68,946 | 1,631 | 2.4% | 1,240 | 2,743 | 1,518 | S100UFU0 |
| FY ending Jun 2024 | 71,369 | 1,803 | 2.5% | 759 | 1,476 | 294 | S100WQGP |
| FY ending Jun 2025 | 73,567 | 1,457 | 2.0% | 670 | 3,748 | 591 | S100WQGP |

## People and productivity（FY ending Jun 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥69.8M |
| Operating income per employee (consolidated) | ¥1.4M |
| Net income per employee (consolidated) | ¥635.7K |

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

| History | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 984 | 988 | 1,000 | 1,031 | 1,054 |
| Average salary (parent company) | ¥5.3M | ¥5.3M | ¥5.3M | ¥5.3M | ¥5.5M |
| Average age (parent company) | 40.9 years | 41.4 years | 41.7 years | 41.8 years | 41.8 years |
| Average tenure (parent company) | 12.8 years | 10.0 years | 10.4 years | 10.3 years | 10.1 years |

Year over year: Employees (consolidated) +2.2% · Revenue (consolidated) +3.1%

## Segments（FY ending Jun 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| the construction-related industry | 9,007 | 13.8% | 316 | 3.5% |
| the electrical equipment material industry | 38,320 | 58.7% | 1,008 | 2.6% |
| the oil and automotive industry | 17,974 | 27.5% | 145 | 0.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| the construction-related industry | 13.8% | 21.5% | 7.7 | 3.5% |
| the electrical equipment material industry | 58.7% | 68.6% | 9.9 | 2.6% |
| the oil and automotive industry | 27.5% | 9.9% | -17.7 | 0.8% |

Segment → industry: the oil and automotive industry → Oil Refining & Fuels / the construction-related industry → Cement & Concrete / the construction-related industry → General Contractors / the electrical equipment material industry → Specialty Trading & Wholesale / the oil and automotive industry → Car Dealers & Used Cars

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 3,748 | 5.1% | S100WQGP |
| Capital expenditure | 3,157 | 4.3% | S100WQGP |
| Free cash flow | 591 | 0.8% | 算出 |
| Investing cash flow | -3,112 | -4.2% | S100WQGP |
| Financing cash flow | 346 | 0.5% | S100WQGP |
| Dividends paid | 82 | 0.1% | S100WQGP |
| Share buyback | 55 | 0.1% | S100WQGP |
| Change in cash | 982 | 1.3% | S100WQGP |
| Cash and equivalents | 3,856 | 5.2% | S100WQGP |

## 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 Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,840 | 2,018 | 2,838 | 2,874 | 3,856 | S100RXCC, S100UFU0, S100WQGP |
| Total assets | 33,382 | 33,958 | 37,428 | 39,365 | 38,851 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Net assets | 11,661 | 12,286 | 13,543 | 14,215 | 14,748 | S100RXCC, S100UFU0, S100WQGP |
| Share capital | 1,264 | 1,264 | 1,264 | 1,264 | 1,264 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Trade receivables | 11,090 | — | — | — | — | S100P9RR |
| Property, plant and equipment | 12,215 | 12,329 | 12,460 | 13,385 | 14,659 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Intangible assets excluding goodwill | 312 | 347 | 334 | 358 | 383 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Goodwill | 69 | 104 | 93 | 83 | 72 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Investment securities | 712 | 742 | 850 | 1,043 | 1,142 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Current assets | 18,050 | 18,405 | 21,491 | 22,262 | 20,748 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Current liabilities | 13,704 | 13,912 | 16,281 | 17,406 | 16,226 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Trade payables | 6,393 | 6,586 | 9,249 | 9,935 | 8,903 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Short-term borrowings | 4,742 | 4,281 | 3,842 | 3,751 | 4,096 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Long-term borrowings | 5,096 | 4,788 | 4,715 | 4,859 | 5,102 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Bonds | 120 | 110 | — | — | — | S100P9RR, S100RXCC |
| Interest-bearing debt | 9,958 | 9,179 | — | — | — | 算出 |
| Total liabilities | 21,720 | 21,671 | 23,885 | 25,149 | 24,102 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Non-controlling interests | 321 | 339 | 345 | 200 | 208 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Equity attributable to owners of parent | 10,931 | 11,444 | 12,412 | 13,066 | 13,598 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Retained earnings | 9,762 | 10,275 | 11,254 | 11,930 | 12,517 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |
| Treasury stock | -95 | -95 | -106 | -128 | -183 | S100P9RR, S100RXCC, S100UFU0, S100WQGP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100WQGP |
| Property, plant and equipment | 38% | S100WQGP |
| Intangibles and goodwill | 1% | S100WQGP |
| Investment securities | 3% | S100WQGP |
| Other assets | 48% | S100WQGP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 23% | S100WQGP |
| Other liabilities | 39% | S100WQGP |
| Equity | 38% | S100WQGP |
| Other liabilities | 0% | S100WQGP |

### Balance sheet history

| Metric | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 33,382 | 33,958 | 37,428 | 39,365 | 38,851 |
| Equity | 11,661 | 12,286 | 13,543 | 14,215 | 14,748 |
| Interest-bearing debt | 9,958 | 9,179 | — | — | — |
| Cash | 2,840 | 2,018 | 2,838 | 2,874 | 3,856 |

## 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) | 19.9% | S100WQGP |
| Fixed assets ÷ total assets | 37.7% | S100WQGP |
| Goodwill ÷ parent equity | 0.5% | S100WQGP |

Goodwill over 4 years: 69 → 72 JPY; total investing cash flow: -7,688 JPY. This does not imply causation.

### 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) | 9.9% |
| Cash ÷ revenue | 5.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 257.2% |
| Cash vs. profit gap | 3,078 JPY mn (of net income 459.4%) |
| Shareholder returns / net income | 20.4% |
| Shareholder returns / FCF | 23.2% |
| Shareholder payments — dividends / net income | 12.2% |
| Shareholder payments — dividends / FCF | 13.9% |
| CapEx intensity (capex ÷ revenue) | 4.3% |
| Investing CF relative to operating CF | 83.0% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 1.6% | 1.90× | 3.0% | 3.05× | 9.3% | S100P9RR |
| 2022 | 1.0% | 1.88× | 1.8% | 3.01× | 5.6% | S100RXCC |
| 2023 | 1.8% | 1.93× | 3.5% | 2.99× | 10.4% | S100UFU0 |
| 2024 | 1.1% | 1.86× | 2.0% | 3.01× | 6.0% | S100WQGP |
| 2025 | 0.9% | 1.88× | 1.7% | 2.93× | 5.0% | S100WQGP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 髙見澤 秀茂 | Major shareholder | 11.4% | 2025-06-30 |
| 髙見澤 尊昭 | Major shareholder | 8.2% | 2025-06-30 |
| 株式会社夢葉 | Major shareholder | 5.5% | 2025-06-30 |
| 株式会社八十二銀行（常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 5.0% | 2025-06-30 |
| 内藤 征吾 | Major shareholder | 3.2% | 2025-06-30 |
| 長野県信用組合 | Major shareholder | 3.0% | 2025-06-30 |
| 髙見澤 雅人 | Major shareholder | 3.0% | 2025-06-30 |
| ヨシダ トモヒロ | Major shareholder | 2.9% | 2025-06-30 |
| 髙見澤 秀毅 | Major shareholder | 2.6% | 2025-06-30 |
| 高見澤 吉晴 | Major shareholder | 2.4% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第75期(2024/07/01－2025/06/30) | S100WQGP | 2025-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQGP,, |
| 有価証券報告書－第74期(2023/07/01－2024/06/30) | S100UFU0 | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFU0,, |
| 有価証券報告書－第73期(2022/07/01－2023/06/30) | S100RXCC | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RXCC,, |
| 有価証券報告書－第72期(令和3年7月1日－令和4年6月30日) | S100P9RR | 2022-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P9RR,, |
| 有価証券報告書－第71期(令和2年7月1日－令和3年6月30日) | S100MI7W | 2021-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MI7W,, |
| 有価証券報告書－第70期(令和1年7月1日－令和2年6月30日) | S100JSCR | 2020-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JSCR,, |

## 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).