# TAKASAGO TEKKO K.K.: 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154期(2025/04/01－2026/03/31) (S100YH3H)
> Page: https://vizora.meequs.com/en/company/takasago-tekko
> Retrieved: 2026-09-30T21:40:27.781Z

## Company

Takasago Tekko, founded in 1923, is a company in Steel listed on TSE Standard. It has 152 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKASAGO TEKKO K.K., |
| Ticker | 5458 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5458.T) |
| Listing | TSE Standard |
| Head office | 東京都板橋区新河岸一丁目1番1号 |
| Representative (per filing) | 代表取締役社長 加藤 勘二 |
| Founded | Nov 1923 |
| Share capital | ¥1.5B |
| Employees (consolidated) | 152 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.takasago-t.co.jp (https://www.takasago-t.co.jp/) |
| Corporate number | 6011401003931 |
| EDINET | E01275 |
| Industries (Vizora) | Steel, Real Estate Development & Leasing |

> Profile source: annual securities report (S100YH3H, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Steel (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 62.1 | 33 |
| Profitability | 61.4 | 35 |
| Cash conversion | 69.4 | 31 |
| Efficiency | 98.6 | 35 |

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 98% of Takasago Tekko's sales come from steel product business, with real estate business making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +0.1% from the prior year, operating profit +10.7%.

## Company structure

- Segment revenue mix: steel product business 98.5%、real estate business 1.5%
- Revenue → net income: ¥12113000000 → ¥362000000
- Net income → operating cash flow: ¥362000000 → ¥1210000000（difference ¥848000000）
- Main uses of operating cash flow: CapEx ¥154000000 / dividends ¥120000000 / buybacks ¥0
- Change in cash: ¥943000000
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 | ¥12.1B |  |
| Operating income | ¥567M | Margin 4.7% |
| Net income | ¥362M | Margin 3.0% |
| Free cash flow | ¥1.06B |  |
| Largest business | steel product business | of segment revenue 98.5% |
| Employees (consolidated) | 152 |  |
| EPS | ¥72.33 |  |
| Book value per share | ¥1136.74 |  |
| Equity ratio | 52.5% |  |
| Shares outstanding | 3,008,000 |  |
| Treasury shares | 5,800 |  |
| Shareholders | 1,482 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 23.3% | Cash ÷ revenue 18.7% |
| Vs. industry median margin | +1.2 pp | Steel |
| ROE | 7.6% | Derived from disclosed figures |
| ROA | 3.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.3× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8730000000 | ¥12113000000 | +38.8% |
| Operating income | ¥60000000 | ¥567000000 | +845.0% |
| Operating margin | 0.7% | 4.7% | +4 pp |
| Employees | 143 people | 152 people | +6.3% |
| Cash and equivalents | ¥1257000000 | ¥2261000000 | +79.9% |

### 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 |
| --- | ---: |
| 鉄鋼製品事業 → 鉄鋼製品事業 | 97.9% |
| 不動産事業 → 不動産事業 | 1.5% |
| 不動産事業 → 事業再編・廃止 | 0.6% |
| 新設・再編 → 鉄鋼製品事業 | 0.6% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 12,113 | 100.0% | S100YH3H |
| Cost of revenue | 10,289 | 84.9% | S100YH3H |
| Gross profit | 1,823 | 15.0% | S100YH3H |
| SG&A | 1,256 | 10.4% | S100YH3H |
| Operating income | 567 | 4.7% | S100YH3H |
| Ordinary income | 573 | 4.7% | S100YH3H |
| Pretax income | 573 | 4.7% | S100YH3H |
| Income tax | 211 | 1.7% | S100YH3H |
| Net income | 362 | 3.0% | S100YH3H |
| Net income attributable to owners | 362 | 3.0% | S100YH3H |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 85 |
| SG&A | 10 |
| Operating income | 5 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 15.0% → Operating margin 4.7% → Net margin 3.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +0.1%; Core profit growth: +10.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 99.98×
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 | 12,100 | 12,113 | 13 | +0.1% |
| Gross profit | 1,692 | 1,823 | 131 | +7.7% |
| Operating income | 512 | 567 | 55 | +10.7% |
| Net income attributable to owners | 333 | 362 | 29 | +8.7% |
| Operating cash flow | 39 | 1,210 | 1,171 | +3002.6% |
| Free cash flow | -231 | 1,056 | 1,287 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 9,679 | 219 | 2.3% | 76 | 205 | 58 | S100LQ9W |
| FY ending Mar 2021 | 8,730 | 60 | 0.7% | 134 | 381 | 251 | S100PDFN |
| FY ending Mar 2022 | 10,830 | 796 | 7.3% | 647 | 944 | 852 | S100R3WD |
| FY ending Mar 2023 | 12,236 | 775 | 6.3% | 523 | -414 | -528 | S100TRVZ |
| FY ending Mar 2024 | 12,181 | 389 | 3.2% | 234 | 910 | 666 | S100W2RY |
| FY ending Mar 2025 | 12,100 | 512 | 4.2% | 333 | 39 | -231 | S100YH3H |
| FY ending Mar 2026 | 12,113 | 567 | 4.7% | 362 | 1,210 | 1,056 | S100YH3H |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥79.7M |
| Operating income per employee (consolidated) | ¥3.7M |
| Net income per employee (consolidated) | ¥2.4M |

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) | 145 | 148 | 151 | 150 | 152 |
| Average salary (parent company) | ¥5.5M | ¥5.4M | ¥5.4M | ¥5.7M | ¥6M |
| Average age (parent company) | 45.0 years | 44.6 years | 45.6 years | 45.9 years | 46.9 years |
| Average tenure (parent company) | 18.0 years | 17.7 years | 18.0 years | 17.6 years | 18.4 years |

Year over year: Employees (consolidated) +1.3% · Revenue (consolidated) +0.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| steel product business | 11,927 | 98.5% | 471 | 3.9% |
| real estate business | 186 | 1.5% | 101 | 54.3% |

### 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 |
| --- | ---: |
| steel product business | 98.5% |
| real estate business | 1.5% |

Segment → industry: steel product business → Steel / real estate business → Real Estate Development & Leasing

## 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 | 1,210 | 10.0% | S100YH3H |
| Capital expenditure | 154 | 1.3% | S100YH3H |
| Free cash flow | 1,056 | 8.7% | 算出 |
| Investing cash flow | -147 | -1.2% | S100YH3H |
| Financing cash flow | -120 | -1.0% | S100YH3H |
| Dividends paid | 120 | 1.0% | S100YH3H |
| Share buyback | 0 | 0.0% | S100YH3H |
| Change in cash | 943 | 7.8% | S100YH3H |
| Cash and equivalents | 2,261 | 18.7% | S100YH3H |

## 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 | 1,739 | 1,097 | 1,656 | 1,318 | 2,261 | S100TRVZ, S100W2RY, S100YH3H |
| Total assets | 8,486 | 8,846 | 9,659 | 9,046 | 9,704 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Net assets | 3,898 | 4,314 | 4,406 | 4,736 | 5,093 | S100TRVZ, S100W2RY, S100YH3H |
| Share capital | 1,504 | 1,504 | 1,504 | 1,504 | 1,504 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Property, plant and equipment | 1,578 | 1,527 | 1,525 | 1,567 | 1,586 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Intangible assets excluding goodwill | 24 | 28 | 22 | 42 | 101 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Investment securities | 16 | 18 | 26 | 22 | 29 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Current assets | 6,644 | 7,083 | 7,938 | 7,270 | 7,858 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Current liabilities | 3,619 | 3,517 | 4,185 | 3,340 | 3,725 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Trade payables | 1,979 | 1,761 | 2,587 | 1,683 | 1,833 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Total liabilities | 4,588 | 4,532 | 5,253 | 4,310 | 4,611 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Equity attributable to owners of parent | 3,882 | 4,300 | 4,430 | 4,658 | 4,900 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Retained earnings | 2,385 | 2,803 | 2,933 | 3,161 | 3,403 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |
| Treasury stock | -6 | -6 | -6 | -6 | -6 | S100R3WD, S100TRVZ, S100W2RY, S100YH3H |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 23% | S100YH3H |
| Property, plant and equipment | 17% | S100YH3H |
| Intangibles and goodwill | 1% | S100YH3H |
| Investment securities | 0% | S100YH3H |
| Other assets | 59% | S100YH3H |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 19% | S100YH3H |
| Other liabilities | 29% | S100YH3H |
| Equity | 52% | S100YH3H |

### 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 | 8,486 | 8,846 | 9,659 | 9,046 | 9,704 |
| Equity | 3,898 | 4,314 | 4,406 | 4,736 | 5,093 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,739 | 1,097 | 1,656 | 1,318 | 2,261 |

## 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) | 13.1% | S100YH3H |
| Fixed assets ÷ total assets | 16.3% | S100YH3H |
| Goodwill ÷ parent equity | — | —, S100YH3H |

### 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) | 23.3% |
| Cash ÷ revenue | 18.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 213.4% |
| Cash vs. profit gap | 848 JPY mn (of net income 234.3%) |
| Shareholder returns / net income | 33.1% |
| Shareholder returns / FCF | 11.4% |
| Shareholder payments — dividends / net income | 33.1% |
| Shareholder payments — dividends / FCF | 11.4% |
| CapEx intensity (capex ÷ revenue) | 1.3% |
| Investing CF relative to operating CF | 12.1% |

## 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 | 6.0% | 1.28× | 7.6% | 2.19× | 16.7% | S100R3WD |
| 2023 | 4.3% | 1.41× | 6.0% | 2.12× | 12.8% | S100TRVZ |
| 2024 | 1.9% | 1.32× | 2.5% | 2.12× | 5.4% | S100W2RY |
| 2025 | 2.8% | 1.29× | 3.6% | 2.06× | 7.3% | S100YH3H |
| 2026 | 3.0% | 1.29× | 3.9% | 1.96× | 7.6% | S100YH3H |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本製鉄株式会社 | Major shareholder | 30.7% | 2026-03-31 |
| 三井物産株式会社 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 16.7% | 2026-03-31 |
| THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD - SINGAPORE BRANCH PRIVATE BANKING DIVISION CLIENTS A/C 8221-623793 （常任代理人 香港上海銀行東京支店） | Major shareholder | 5.5% | 2026-03-31 |
| 株式会社大谷製作所 | Major shareholder | 5.2% | 2026-03-31 |
| 窪田正史 | Major shareholder | 2.6% | 2026-03-31 |
| 新海秀治 | Major shareholder | 2.3% | 2026-03-31 |
| 杉山登己 | Major shareholder | 2.0% | 2026-03-31 |
| 中央日本土地建物株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| 豊証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| 有限会社サイトー商店 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第154期(2025/04/01－2026/03/31) | S100YH3H | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH3H,, |
| 有価証券報告書－第153期(2024/04/01－2025/03/31) | S100W2RY | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2RY,, |
| 有価証券報告書－第152期(2023/04/01－2024/03/31) | S100TRVZ | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRVZ,, |
| 有価証券報告書－第151期(2022/04/01－2023/03/31) | S100R3WD | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3WD,, |
| 訂正有価証券報告書－第150期(令和3年4月1日－令和4年3月31日) | S100PDFN | 2022-10-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PDFN,, |
| 有価証券報告書－第149期(令和2年4月1日－令和3年3月31日) | S100LQ9W | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQ9W,, |

## 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).