# TAKARA STANDARD 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152期(2025/04/01－2026/03/31) (S100YE7H)
> Page: https://vizora.meequs.com/en/company/takara-standard
> Retrieved: 2026-09-30T20:31:08.141Z

## Company

Takara Standard, founded in 1912, is a company in Real Estate Development & Leasing listed on TSE Prime. It has 6,505 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKARA STANDARD CO.,LTD. |
| Ticker | 7981 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7981.T) |
| Listing | TSE Prime |
| Head office | 大阪市城東区鴫野東1丁目2番1号 |
| Representative (per filing) | 代表取締役社長 小森大 |
| Founded | May 1912 |
| Share capital | ¥26.4B |
| Employees (consolidated) | 6,505 |
| Average salary (parent only) | ¥6.3M |
| Fiscal year end | March |
| Website | www.takara-standard.co.jp (https://www.takara-standard.co.jp/) |
| Corporate number | 5120001015344 |
| EDINET | E02373 |
| Industries (Vizora) | Real Estate Development & Leasing, Housing Equipment & Building Materials |

> Profile source: annual securities report (S100YE7H, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 75.9 | 56 |
| Profitability | 76.7 | 58 |
| Cash conversion | 63 | 50 |
| Efficiency | 66.4 | 58 |

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 100% of Takara Standard's sales come from Household equipment, with Other making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed +3.9% from the prior year, operating profit +22.1%.

## Company structure

- Segment revenue mix: Household equipment 99.9%、Other 0.1%
- Revenue → net income: ¥252756000000 → ¥15073000000
- Net income → operating cash flow: ¥15073000000 → ¥25406000000（difference ¥10333000000）
- Main uses of operating cash flow: CapEx ¥16475000000 / dividends ¥6610000000 / buybacks ¥10499000000
- Change in cash: ¥-6649000000
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 | ¥252.8B |  |
| Operating income | ¥19.1B | Margin 7.5% |
| Net income | ¥15.1B | Margin 6.0% |
| Free cash flow | ¥8.93B |  |
| Largest business | Household equipment | of segment revenue 99.9% |
| Employees (consolidated) | 6,505 |  |
| EPS | ¥235.77 |  |
| Book value per share | ¥3052.28 |  |
| Equity ratio | 68.8% |  |
| Shares outstanding | 63,361,494 |  |
| Treasury shares | 130,300 |  |
| Shareholders | 7,440 |  |
| Average salary (parent only) | ¥6.3M | Filing company only |
| Cash ratio | 21.5% | Cash ÷ revenue 24.3% |
| Vs. industry median margin | +3.1 pp | Housing Equipment & Building Materials |
| ROE | 8.2% | Derived from disclosed figures |
| ROA | 5.4% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.6× dividends
- FY2026, one segment accounts for 99% of positive segment profit
- FY2026, employees -1% while operating income rose 22%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥191229000000 | ¥252756000000 | +32.2% |
| Operating income | ¥10961000000 | ¥19083000000 | +74.1% |
| Operating margin | 5.7% | 7.5% | +1.8 pp |
| Employees | 6,278 people | 6,505 people | +3.6% |
| Cash and equivalents | ¥74719000000 | ¥61409000000 | -17.8% |

### 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 |
| --- | ---: |
| 住宅設備関連 → 住宅設備関連 | 99.8% |
| その他 → その他 | 0.1% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 住宅設備関連 | 0.0% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 252,756 | 100.0% | S100YE7H |
| Cost of revenue | 162,626 | 64.3% | S100YE7H |
| Gross profit | 90,129 | 35.7% | S100YE7H |
| SG&A | 71,046 | 28.1% | S100YE7H |
| Operating income | 19,083 | 7.5% | S100YE7H |
| Ordinary income | 19,677 | 7.8% | S100YE7H |
| Pretax income | 21,164 | 8.4% | S100YE7H |
| Income tax | 6,090 | 2.4% | S100YE7H |
| Net income | 15,073 | 6.0% | S100YE7H |
| Net income attributable to owners | 15,073 | 6.0% | S100YE7H |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 28 |
| Operating income | 8 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 35.7% → Operating margin 7.5% → Net margin 6.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.9%; Core profit growth: +22.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 5.72×
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 | 243,380 | 252,756 | 9,376 | +3.9% |
| Gross profit | 84,507 | 90,129 | 5,622 | +6.7% |
| Operating income | 15,635 | 19,083 | 3,448 | +22.1% |
| Net income attributable to owners | 11,090 | 15,073 | 3,983 | +35.9% |
| Operating cash flow | 23,365 | 25,406 | 2,041 | +8.7% |
| Free cash flow | 12,896 | 8,931 | -3,965 | -30.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 201,521 | 12,631 | 6.3% | 8,647 | 17,061 | 11,617 | S100LQEF |
| FY ending Mar 2021 | 191,229 | 10,961 | 5.7% | 7,588 | 7,953 | 2,262 | S100OIDE |
| FY ending Mar 2022 | 211,587 | 14,428 | 6.8% | 10,905 | 19,683 | 12,037 | S100SD6E |
| FY ending Mar 2023 | 227,423 | 10,940 | 4.8% | 8,417 | 6,604 | -2,020 | S100TQS1 |
| FY ending Mar 2024 | 234,738 | 12,427 | 5.3% | 9,500 | -1,314 | -15,767 | S100W088 |
| FY ending Mar 2025 | 243,380 | 15,635 | 6.4% | 11,090 | 23,365 | 12,896 | S100YE7H |
| FY ending Mar 2026 | 252,756 | 19,083 | 7.5% | 15,073 | 25,406 | 8,931 | S100YE7H |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥38.9M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.3M |

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) | 6,298 | 6,445 | 6,616 | 6,560 | 6,505 |
| Average salary (parent company) | ¥5.6M | ¥6M | ¥6M | ¥6.1M | ¥6.3M |
| Average age (parent company) | 40.0 years | 41.0 years | 40.0 years | 40.0 years | 41.0 years |
| Average tenure (parent company) | 14.0 years | 13.0 years | 14.0 years | 14.0 years | 14.0 years |

Year over year: Employees (consolidated) -0.8% · Revenue (consolidated) +3.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Household equipment | 252,493 | 99.9% | 18,851 | 7.5% |
| Other | 262 | 0.1% | 231 | 88.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Household equipment | 99.9% | 98.8% | -1.1 | 7.5% |
| Other | 0.1% | 1.2% | 1.1 | 88.2% |

Segment → industry: Other → Real Estate Development & Leasing / Household equipment → Housing Equipment & Building Materials

## 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 | 25,406 | 10.1% | S100YE7H |
| Capital expenditure | 16,475 | 6.5% | S100YE7H |
| Free cash flow | 8,931 | 3.5% | 算出 |
| Investing cash flow | -12,535 | -5.0% | S100YE7H |
| Financing cash flow | -19,520 | -7.7% | S100YE7H |
| Dividends paid | 6,610 | 2.6% | S100YE7H |
| Share buyback | 10,499 | 4.2% | S100YE7H |
| Change in cash | -6,649 | -2.6% | S100YE7H |
| Cash and equivalents | 61,409 | 24.3% | S100YE7H |

## 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 | 88,607 | 80,376 | 59,665 | 68,059 | 61,409 | S100TQS1, S100W088, S100YE7H |
| Total assets | 276,838 | 279,878 | 268,675 | 276,914 | 285,152 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Net assets | 181,415 | 181,516 | 187,398 | 194,509 | 196,325 | S100TQS1, S100W088, S100YE7H |
| Share capital | 26,356 | 26,356 | 26,356 | 26,356 | 26,356 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Property, plant and equipment | 82,451 | 83,369 | 89,709 | 92,198 | 106,557 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Intangible assets excluding goodwill | 1,700 | 1,651 | 2,254 | 2,280 | 3,509 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Investment securities | 13,411 | 12,057 | 13,928 | 14,745 | 15,814 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Current assets | 170,456 | 173,775 | 154,972 | 160,391 | 152,881 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Current liabilities | 73,593 | 76,102 | 61,251 | 63,067 | 73,198 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Trade payables | 18,194 | 19,953 | 16,116 | — | — | S100SD6E, S100TQS1 |
| Short-term borrowings | 9,700 | 8,100 | 7,650 | 6,750 | 4,340 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Total liabilities | 95,422 | 98,361 | 81,276 | 82,405 | 88,826 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Equity attributable to owners of parent | 176,912 | 177,402 | 179,592 | 185,036 | 183,248 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Retained earnings | 120,753 | 120,322 | 122,517 | 127,961 | 126,497 | S100SD6E, S100TQS1, S100W088, S100YE7H |
| Treasury stock | -934 | -12 | -17 | -17 | -340 | S100SD6E, S100TQS1, S100W088, S100YE7H |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 22% | S100YE7H |
| Property, plant and equipment | 37% | S100YE7H |
| Intangibles and goodwill | 1% | S100YE7H |
| Investment securities | 6% | S100YE7H |
| Other assets | 34% | S100YE7H |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 31% | S100YE7H |
| Equity | 69% | S100YE7H |
| Other liabilities | 0% | S100YE7H |

### 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 | 276,838 | 279,878 | 268,675 | 276,914 | 285,152 |
| Equity | 181,415 | 181,516 | 187,398 | 194,509 | 196,325 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 88,607 | 80,376 | 59,665 | 68,059 | 61,409 |

## 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) | 42.2% | S100YE7H |
| Fixed assets ÷ total assets | 37.4% | S100YE7H |
| Goodwill ÷ parent equity | — | —, S100YE7H |

### 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) | 21.5% |
| Cash ÷ revenue | 24.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 133.1% |
| Cash vs. profit gap | 10,333 JPY mn (of net income 68.6%) |
| Shareholder returns / net income | 113.5% |
| Shareholder returns / FCF | 191.6% |
| Shareholder payments — dividends / net income | 43.9% |
| Shareholder payments — dividends / FCF | 74.0% |
| CapEx intensity (capex ÷ revenue) | 6.5% |
| Investing CF relative to operating CF | 49.3% |

## 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 | 5.2% | 0.76× | 3.9% | 1.56× | 6.2% | S100SD6E |
| 2023 | 3.7% | 0.82× | 3.0% | 1.57× | 4.8% | S100TQS1 |
| 2024 | 4.0% | 0.86× | 3.5% | 1.54× | 5.3% | S100W088 |
| 2025 | 4.6% | 0.89× | 4.1% | 1.50× | 6.1% | S100YE7H |
| 2026 | 6.0% | 0.90× | 5.4% | 1.53× | 8.2% | S100YE7H |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| タカラベルモントアセットマネジメント㈱ | Major shareholder | 10.3% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 9.3% | 2026-03-31 |
| タカラスタンダード持株会 | Major shareholder | 8.4% | 2026-03-31 |
| タカラスタンダード社員持株会 | Major shareholder | 5.7% | 2026-03-31 |
| ㈱日本カストディ銀行（信託口） | Major shareholder | 4.3% | 2026-03-31 |
| ㈱横浜銀行 | Major shareholder | 3.5% | 2026-03-31 |
| 日本生命保険(相) | Major shareholder | 3.2% | 2026-03-31 |
| ㈱常陽銀行 | Major shareholder | 2.1% | 2026-03-31 |
| 明治安田生命保険(相) | Major shareholder | 2.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第152期(2025/04/01－2026/03/31) | S100YE7H | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YE7H,, |
| 有価証券報告書－第151期(2024/04/01－2025/03/31) | S100W088 | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W088,, |
| 有価証券報告書－第150期(2023/04/01－2024/03/31) | S100TQS1 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQS1,, |
| 訂正有価証券報告書－第149期(2022/04/01－2023/03/31) | S100SD6E | 2023-11-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SD6E,, |
| 有価証券報告書－第148期(令和3年4月1日－令和4年3月31日) | S100OIDE | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIDE,, |
| 有価証券報告書－第147期(令和2年4月1日－令和3年3月31日) | S100LQEF | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQEF,, |

## 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).