# TAKANO CO.,Ltd.: 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73期(2025/04/01－2026/03/31) (S100YITM)
> Page: https://vizora.meequs.com/en/company/takano
> Retrieved: 2026-09-30T21:00:43.010Z

## Company

Takano, founded in 1953, is a company in Medical Devices listed on TSE Standard. It has 727 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKANO CO.,Ltd. |
| Ticker | 7885 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7885.T) |
| Listing | TSE Standard |
| Head office | 長野県上伊那郡宮田村137番地 |
| Representative (per filing) | 代表取締役社長 鷹野 雅央 |
| Founded | Jul 1953 |
| Share capital | ¥2.02B |
| Employees (consolidated) | 727 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.takano-net.co.jp (https://www.takano-net.co.jp/) |
| Corporate number | 8100001021275 |
| EDINET | E02435 |
| Industries (Vizora) | Medical Devices, Semiconductor Equipment, Housing Equipment & Building Materials, Specialty Trading & Wholesale, Industrial Machinery, Stationery & Office Supplies |

> Profile source: annual securities report (S100YITM, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Medical Devices (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 38.2 | 38 |
| Profitability | 14.1 | 39 |
| Cash conversion | 77.6 | 38 |
| Efficiency | 44.9 | 39 |

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 54% of Takano's sales come from Living and Life relating Equipment, with Inspection System and Industrial Equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +3.5% from the prior year, operating profit +86.5%.

## Company structure

- Segment revenue mix: Living and Life relating Equipment 54.0%、Inspection System 25.5%、Industrial Equipment 9.0%、Machinery and Tools 6.8%、Exterior Product 4.7%
- Revenue → net income: ¥24802753000 → ¥616197000
- Net income → operating cash flow: ¥616197000 → ¥1111132000（difference ¥494935000）
- Main uses of operating cash flow: CapEx ¥1434884000 / dividends ¥304431000 / buybacks —
- Change in cash: ¥-321483000
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 | ¥24.8B |  |
| Operating income | ¥841.5M | Margin 3.4% |
| Net income | ¥616.2M | Margin 2.5% |
| Free cash flow | -¥323.8M |  |
| Largest business | Living and Life relating Equipment | of segment revenue 54.0% |
| Employees (consolidated) | 727 |  |
| EPS | ¥34.58 |  |
| Book value per share | ¥1971.03 |  |
| Equity ratio | 85.7% |  |
| Shares outstanding | 15,721,000 |  |
| Treasury shares | 499,400 |  |
| Shareholders | 11,432 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |
| Cash ratio | 21.8% | Cash ÷ revenue 33.4% |
| Vs. industry median margin | -7.7 pp | Medical Devices |
| ROE | 2.0% | Derived from disclosed figures |
| ROA | 1.6% | Derived from disclosed figures |

## Notable figures

- FY2026, employees 0% while operating income rose 86%
- FY2026, one segment accounts for 68% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥20050029000 | ¥24802753000 | +23.7% |
| Operating income | ¥-97194000 | ¥841457000 | — |
| Operating margin | -0.5% | 3.4% | +3.9 pp |
| Employees | 651 people | 727 people | +11.7% |
| Cash and equivalents | ¥7749381000 | ¥8275253000 | +6.8% |

### 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 |
| --- | ---: |
| 住生活関連機器 → 住生活関連機器 | 46.3% |
| 検査計測機器 → 検査計測機器 | 25.5% |
| 検査計測機器 → 事業再編・廃止 | 9.0% |
| 産業機器 → 産業機器 | 8.4% |
| エクステリア → エクステリア | 4.1% |
| 機械・工具 → 機械・工具 | 6.6% |
| 新設・再編 → 住生活関連機器 | 7.7% |
| 新設・再編 → 産業機器 | 0.6% |
| 新設・再編 → エクステリア | 0.6% |
| 新設・再編 → 機械・工具 | 0.1% |

Segment revenue source references: 10 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Living and Life relating Equipment | 5 years | +7.6% | ¥13392049000 | 5.7% | 2 |
| Inspection System | 5 years | -1.8% | ¥6325037000 | 3.7% | 2 |
| Industrial Equipment | 5 years | +5.9% | ¥2243237000 | -11.0% | 2 |
| Machinery and Tools | 5 years | +4.7% | ¥1674994000 | 6.6% | 2 |
| Exterior Product | 5 years | +7.1% | ¥1167433000 | 1.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 24,803 | 100.0% | S100YITM |
| Cost of revenue | 18,857 | 76.0% | S100YITM |
| Gross profit | 5,945 | 24.0% | S100YITM |
| SG&A | 5,104 | 20.6% | S100YITM |
| Operating income | 841 | 3.4% | S100YITM |
| Ordinary income | 1,000 | 4.0% | S100YITM |
| Pretax income | 833 | 3.4% | S100YITM |
| Income tax | 216 | 0.9% | S100YITM |
| Net income | 616 | 2.5% | S100YITM |
| Net income attributable to owners | 616 | 2.5% | S100YITM |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 21 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 24.0% → Operating margin 3.4% → Net margin 2.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.5%; Core profit growth: +86.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 24.88×
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 | 23,970 | 24,803 | 833 | +3.5% |
| Gross profit | 5,400 | 5,945 | 545 | +10.1% |
| Operating income | 451 | 841 | 390 | +86.5% |
| Net income attributable to owners | 520 | 616 | 96 | +18.4% |
| Operating cash flow | 836 | 1,111 | 275 | +32.9% |
| Free cash flow | 17 | -324 | -341 | -2005.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 22,346 | 754 | 3.4% | 586 | 724 | -1,017 | S100LNPJ |
| FY ending Mar 2021 | 20,050 | -97 | -0.5% | -11 | 1,526 | 887 | S100OFL4 |
| FY ending Mar 2022 | 22,748 | 1,143 | 5.0% | 894 | 671 | 64 | S100TBW8 |
| FY ending Mar 2023 | 23,037 | 999 | 4.3% | 829 | 733 | 93 | S100TRH7 |
| FY ending Mar 2024 | 25,173 | 881 | 3.5% | 601 | 1,685 | 725 | S100W6G7 |
| FY ending Mar 2025 | 23,970 | 451 | 1.9% | 520 | 836 | 17 | S100YITM |
| FY ending Mar 2026 | 24,803 | 841 | 3.4% | 616 | 1,111 | -324 | S100YITM |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.1M |
| Operating income per employee (consolidated) | ¥1.2M |
| Net income per employee (consolidated) | ¥847.6K |

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) | 655 | 685 | 706 | 729 | 727 |
| Average salary (parent company) | ¥5.6M | ¥6.3M | ¥6.1M | ¥6M | ¥6.4M |
| Average age (parent company) | 43.7 years | 43.9 years | 44.3 years | 44.3 years | 44.7 years |
| Average tenure (parent company) | 15.9 years | 15.8 years | 15.8 years | 15.8 years | 16.0 years |

Year over year: Employees (consolidated) -0.3% · Revenue (consolidated) +3.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Living and Life relating Equipment | 13,392 | 54.0% | 764 | 5.7% |
| Inspection System | 6,325 | 25.5% | 232 | 3.7% |
| Industrial Equipment | 2,243 | 9.0% | -248 | -11.0% |
| Exterior Product | 1,167 | 4.7% | 15 | 1.3% |
| Machinery and Tools | 1,675 | 6.8% | 110 | 6.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Living and Life relating Equipment | 54.0% | 68.1% | 14.2 | 5.7% |
| Inspection System | 25.5% | 20.7% | -4.8 | 3.7% |
| Industrial Equipment | 9.0% | — | — | -11.0% |
| Exterior Product | 4.7% | 1.3% | -3.4 | 1.3% |
| Machinery and Tools | 6.8% | 9.8% | 3.1 | 6.6% |

Loss-making segment (excluded from profit shares): Industrial Equipment -248 JPY mn

Segment → industry: Living and Life relating Equipment → Medical Devices / Inspection System → Semiconductor Equipment / Exterior Product → Housing Equipment & Building Materials / Machinery and Tools → Specialty Trading & Wholesale / Industrial Equipment → Industrial Machinery / Living and Life relating Equipment → Stationery & Office Supplies

## 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 | 1,111 | 4.5% | S100YITM |
| Capital expenditure | 1,435 | 5.8% | S100YITM |
| Free cash flow | -324 | -1.3% | 算出 |
| Investing cash flow | -1,063 | -4.3% | S100YITM |
| Financing cash flow | -398 | -1.6% | S100YITM |
| Dividends paid | 304 | 1.2% | S100YITM |
| Change in cash | -321 | -1.3% | S100YITM |
| Cash and equivalents | 8,275 | 33.4% | S100YITM |

## 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 | 7,474 | 7,642 | 8,469 | 8,597 | 8,275 | S100TRH7, S100W6G7, S100YITM |
| Total assets | 37,616 | 39,433 | 39,680 | 38,470 | 37,935 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Net assets | 29,901 | 30,687 | 31,533 | 31,907 | 32,512 | S100TRH7, S100W6G7, S100YITM |
| Share capital | 2,016 | 2,016 | 2,016 | 2,016 | 2,016 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Property, plant and equipment | 9,435 | 9,347 | 9,051 | 8,758 | 8,632 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Intangible assets excluding goodwill | 183 | 479 | 441 | 551 | 369 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Goodwill | — | 145 | 116 | 87 | — | S100TRH7, S100W6G7, S100YITM |
| Investment securities | 3,143 | 3,316 | 3,580 | 3,608 | 3,782 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Current assets | 23,348 | 25,099 | 25,536 | 24,405 | 23,936 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Current liabilities | 6,867 | 7,693 | 7,193 | 5,781 | 4,847 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Trade payables | 1,882 | 1,761 | 1,314 | 1,347 | 1,467 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Long-term borrowings | 80 | 198 | 139 | 83 | 32 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Total liabilities | 7,715 | 8,746 | 8,147 | 6,563 | 5,423 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Equity attributable to owners of parent | 29,457 | 30,042 | 30,369 | 30,585 | 30,897 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Retained earnings | 25,340 | 25,925 | 26,252 | 26,469 | 26,780 | S100TBW8, S100TRH7, S100W6G7, S100YITM |
| Treasury stock | -259 | -259 | -259 | -259 | -259 | S100TBW8, S100TRH7, S100W6G7, S100YITM |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 22% | S100YITM |
| Property, plant and equipment | 23% | S100YITM |
| Intangibles and goodwill | 1% | S100YITM |
| Investment securities | 10% | S100YITM |
| Other assets | 44% | S100YITM |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YITM |
| Other liabilities | 10% | S100YITM |
| Equity | 86% | S100YITM |
| Other liabilities | 0% | S100YITM |

### 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 | 37,616 | 39,433 | 39,680 | 38,470 | 37,935 |
| Equity | 29,901 | 30,687 | 31,533 | 31,907 | 32,512 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,474 | 7,642 | 8,469 | 8,597 | 8,275 |

## 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) | 34.8% | S100YITM |
| Fixed assets ÷ total assets | 22.8% | S100YITM |
| Goodwill ÷ parent equity | — | —, S100YITM |

### 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) | 21.8% |
| Cash ÷ revenue | 33.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 132.0% |
| Cash vs. profit gap | 495 JPY mn (of net income 80.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 49.4% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.8% |
| Investing CF relative to operating CF | 95.7% |

## 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 | 3.9% | 0.60× | 2.4% | 1.28× | 3.0% | S100TBW8 |
| 2023 | 3.6% | 0.60× | 2.2% | 1.29× | 2.8% | S100TRH7 |
| 2024 | 2.4% | 0.64× | 1.5% | 1.31× | 2.0% | S100W6G7 |
| 2025 | 2.2% | 0.61× | 1.3% | 1.28× | 1.7% | S100YITM |
| 2026 | 2.5% | 0.65× | 1.6% | 1.24× | 2.0% | S100YITM |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本発条株式会社 | Major shareholder | 14.1% | 2026-03-31 |
| コクヨ株式会社 | Major shareholder | 14.1% | 2026-03-31 |
| 堀井 朝運 | Major shareholder | 9.8% | 2026-03-31 |
| 株式会社鷹山 | Major shareholder | 7.6% | 2026-03-31 |
| 水元 公仁 | Major shareholder | 2.8% | 2026-03-31 |
| タカノ従業員持株会 | Major shareholder | 2.8% | 2026-03-31 |
| 一般財団法人鷹野学術振興財団 | Major shareholder | 2.5% | 2026-03-31 |
| タカノ取引先持株会 | Major shareholder | 2.5% | 2026-03-31 |
| 株式会社八十二長野銀行 | Major shareholder | 1.9% | 2026-03-31 |
| INTERACTIVE BROKERS LLC （常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第73期(2025/04/01－2026/03/31) | S100YITM | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YITM,, |
| 有価証券報告書－第72期(2024/04/01－2025/03/31) | S100W6G7 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6G7,, |
| 有価証券報告書－第71期(2023/04/01－2024/03/31) | S100TRH7 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRH7,, |
| 訂正有価証券報告書－第70期(2022/04/01－2023/03/31) | S100TBW8 | 2024-04-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TBW8,, |
| 有価証券報告書－第69期(令和3年4月1日－令和4年3月31日) | S100OFL4 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFL4,, |
| 有価証券報告書－第68期(令和2年4月1日－令和3年3月31日) | S100LNPJ | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNPJ,, |

## 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).