# Takasho Co.,Ltd.: business model and financials

> Latest period: FY ending Jan 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第46期(2025/01/21－2026/01/20) (S100XYFO)
> Page: https://vizora.meequs.com/en/company/takasho
> Retrieved: 2026-09-30T21:35:15.295Z

## Company

Takasho, founded in 1980, is a company in Housing Equipment & Building Materials listed on TSE Standard. It has 891 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Takashо Cо.,Ltd. |
| Ticker | 7590 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7590.T) |
| Listing | TSE Standard |
| Head office | 和歌山県海南市阪井489番地(注) 上記の場所は登記上の本店所在地であり、実際の業務は下記の場所で行っております。 |
| Representative (per filing) | 代表取締役社長 高岡伸夫 |
| Founded | Aug 1980 |
| Share capital | ¥3.04B |
| Employees (consolidated) | 891 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | January |
| Website | takasho.co.jp (https://takasho.co.jp/) |
| Corporate number | 2170001005748 |
| EDINET | E02888 |
| Industries (Vizora) | Housing Equipment & Building Materials |

> Profile source: annual securities report (S100XYFO, filed 2026-04-17). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2026-01-20)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 29.5 | 56 |
| Profitability | 23.3 | 58 |
| Cash conversion | 93 | 50 |
| Efficiency | 54.3 | 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 87% of Takasho's sales come from Japan, with China and Europe making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +1.8% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: Japan 87.2%、China 5.1%、Europe 2.9%、America 2.4%、Other 1.6%
- Revenue → net income: ¥20246400000 → ¥203446000
- Net income → operating cash flow: ¥203446000 → ¥641325000（difference ¥437879000）
- Main uses of operating cash flow: CapEx ¥520319000 / dividends ¥84292000 / buybacks —
- Change in cash: ¥-37808000
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 | ¥20.2B |  |
| Operating income | ¥218.7M | Margin 1.1% |
| Net income | ¥198.6M | Margin 1.0% |
| Free cash flow | ¥121M |  |
| Largest business | Japan | of segment revenue 87.2% |
| Employees (consolidated) | 891 |  |
| EPS | ¥11.65 |  |
| Book value per share | ¥382.46 |  |
| Equity ratio | 54.2% |  |
| Shares outstanding | 17,590,114 |  |
| Treasury shares | 731,600 |  |
| Shareholders | 12,543 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 14.5% | Cash ÷ revenue 16.8% |
| Vs. industry median margin | -3.4 pp | Housing Equipment & Building Materials |
| ROE | 1.8% | Derived from disclosed figures |
| ROA | 0.8% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.2× net income
- FY2026, one segment accounts for 95% of positive segment profit

## What changed in 5 years

| Metric | FY ending Jan 2021 | FY ending Jan 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥18486333000 | ¥20246400000 | +9.5% |
| Operating income | ¥1156902000 | ¥218734000 | -81.1% |
| Operating margin | 6.3% | 1.1% | -5.2 pp |
| Employees | 822 people | 891 people | +8.4% |
| Cash and equivalents | ¥3942313000 | ¥3394873000 | -13.9% |

### Change in segment revenue mix

Span: FY ending Jan 2021 → FY ending Jan 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 日本 → 日本 | 85.8% |
| 欧州 → 欧州 | 2.9% |
| 欧州 → 事業再編・廃止 | 1.1% |
| 中国 → 中国 | 5.1% |
| 中国 → 事業再編・廃止 | 0.6% |
| 韓国 → 韓国 | 0.8% |
| 韓国 → 事業再編・廃止 | 0.0% |
| 米国 → 米国 | 2.2% |
| その他 → その他 | 1.4% |
| 新設・再編 → 日本 | 1.5% |
| 新設・再編 → 米国 | 0.2% |
| 新設・再編 → その他 | 0.2% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +2.2% | ¥17661131000 | 5.1% | 2 |
| China | 5 years | -0.6% | ¥1028976000 | 5.0% | 2 |
| Europe | 5 years | -4.6% | ¥595025000 | -64.7% | 2 |
| America | 5 years | +3.5% | ¥477332000 | -76.7% | 2 |
| Other | 5 years | +4.4% | ¥321874000 | -11.6% | 2 |
| Korea | 5 years | +1.0% | ¥162059000 | -38.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 20,246 | 100.0% | S100XYFO |
| Cost of revenue | 11,656 | 57.6% | S100XYFO |
| Gross profit | 8,590 | 42.4% | S100XYFO |
| SG&A | 8,372 | 41.3% | S100XYFO |
| Operating income | 219 | 1.1% | S100XYFO |
| Ordinary income | 718 | 3.5% | S100XYFO |
| Pretax income | 697 | 3.4% | S100XYFO |
| Income tax | 493 | 2.4% | S100XYFO |
| Net income | 203 | 1.0% | S100XYFO |
| Net income attributable to owners | 199 | 1.0% | S100XYFO |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 58 |
| SG&A | 41 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 42.4% → Operating margin 1.1% → Net margin 1.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 19,890 | 20,246 | 356 | +1.8% |
| Gross profit | 8,389 | 8,590 | 201 | +2.4% |
| Operating income | -151 | 219 | 369 | — |
| Net income attributable to owners | -243 | 199 | 442 | — |
| Operating cash flow | -266 | 641 | 908 | — |
| Free cash flow | -852 | 121 | 973 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jan 2020 | 17,358 | 531 | 3.1% | 203 | 987 | 281 | S100MFGT |
| FY ending Jan 2021 | 18,486 | 1,157 | 6.3% | 953 | 1,900 | 1,461 | S100NVPA |
| FY ending Jan 2022 | 20,781 | 1,474 | 7.1% | 1,001 | 1,484 | 828 | S100QLBW |
| FY ending Jan 2023 | 20,351 | 881 | 4.3% | 519 | -466 | -1,087 | S100TA7H |
| FY ending Jan 2024 | 19,411 | -109 | -0.6% | -76 | 1,132 | 373 | S100VLI7 |
| FY ending Jan 2025 | 19,890 | -151 | -0.8% | -243 | -266 | -852 | S100XYFO |
| FY ending Jan 2026 | 20,246 | 219 | 1.1% | 199 | 641 | 121 | S100XYFO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥22.7M |
| Operating income per employee (consolidated) | ¥245.5K |
| Net income per employee (consolidated) | ¥222.9K |

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

| History | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 887 | 901 | 885 | 901 | 891 |
| Average salary (parent company) | ¥5.2M | ¥5M | ¥5M | ¥4.9M | ¥5.1M |
| Average age (parent company) | 40.1 years | 40.1 years | 41.0 years | 41.1 years | 42.1 years |
| Average tenure (parent company) | 12.1 years | 12.1 years | 13.0 years | 13.1 years | 14.1 years |

Year over year: Employees (consolidated) -1.1% · Revenue (consolidated) +1.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 17,661 | 87.2% | 900 | 5.1% |
| Europe | 595 | 2.9% | -385 | -64.7% |
| China | 1,029 | 5.1% | 51 | 5.0% |
| Korea | 162 | 0.8% | -63 | -38.6% |
| America | 477 | 2.4% | -366 | -76.7% |
| Other | 322 | 1.6% | -37 | -11.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 87.2% | 94.6% | 7.4 | 5.1% |
| Europe | 2.9% | — | — | -64.7% |
| China | 5.1% | 5.4% | 0.3 | 5.0% |
| Korea | 0.8% | — | — | -38.6% |
| America | 2.4% | — | — | -76.7% |
| Other | 1.6% | — | — | -11.6% |

Loss-making segment (excluded from profit shares): Europe -385 JPY mn

Loss-making segment (excluded from profit shares): Korea -63 JPY mn

Loss-making segment (excluded from profit shares): America -366 JPY mn

Loss-making segment (excluded from profit shares): Other -37 JPY mn

Segment → industry: Other → Housing Equipment & Building Materials / America → Housing Equipment & Building Materials / Korea → Housing Equipment & Building Materials / China → Housing Equipment & Building Materials / Europe → Housing Equipment & Building Materials / Japan → Housing Equipment & Building Materials

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jan 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 641 | 3.2% | S100XYFO |
| Capital expenditure | 520 | 2.6% | S100XYFO |
| Free cash flow | 121 | 0.6% | 算出 |
| Investing cash flow | -393 | -1.9% | S100XYFO |
| Financing cash flow | -311 | -1.5% | S100XYFO |
| Dividends paid | 84 | 0.4% | S100XYFO |
| Change in cash | -38 | -0.2% | S100XYFO |
| Cash and equivalents | 3,395 | 16.8% | S100XYFO |

## 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 Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 5,600 | 4,207 | 3,796 | 3,433 | 3,395 | S100TA7H, S100VLI7, S100XYFO |
| Total assets | 23,666 | 23,640 | 23,135 | 23,815 | 23,473 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Net assets | 13,064 | 13,389 | 12,500 | 12,756 | 12,873 | S100TA7H, S100VLI7, S100XYFO |
| Share capital | 3,044 | 3,044 | 3,044 | 3,044 | 3,044 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Trade receivables | 3,097 | — | — | — | — | S100QLBW |
| Property, plant and equipment | 5,800 | 6,247 | 6,396 | 6,452 | 6,314 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Intangible assets excluding goodwill | 497 | 511 | 566 | 518 | 462 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Goodwill | 25 | 52 | 29 | 18 | 9 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Investment securities | 226 | 281 | 193 | 180 | 195 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Current assets | 15,920 | 15,384 | 14,676 | 15,126 | 14,649 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Current liabilities | 9,974 | 9,387 | 9,505 | 9,810 | 9,161 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Trade payables | 3,513 | 2,570 | 2,462 | 2,127 | 2,004 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Short-term borrowings | 3,735 | 3,916 | 3,885 | 4,438 | 4,000 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Long-term borrowings | 111 | 75 | 389 | 589 | 848 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Total liabilities | 10,602 | 10,251 | 10,635 | 11,058 | 10,600 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Non-controlling interests | 106 | 114 | 123 | 139 | 148 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Equity attributable to owners of parent | 12,259 | 12,383 | 11,420 | 11,093 | 11,207 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Retained earnings | 6,137 | 6,253 | 5,774 | 5,447 | 5,561 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |
| Treasury stock | -17 | -13 | -494 | -494 | -494 | S100QLBW, S100TA7H, S100VLI7, S100XYFO |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100XYFO |
| Property, plant and equipment | 27% | S100XYFO |
| Intangibles and goodwill | 2% | S100XYFO |
| Investment securities | 1% | S100XYFO |
| Other assets | 56% | S100XYFO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 8% | S100XYFO |
| Other liabilities | 37% | S100XYFO |
| Equity | 55% | S100XYFO |
| Other liabilities | 0% | S100XYFO |

### Balance sheet history

| Metric | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 23,666 | 23,640 | 23,135 | 23,815 | 23,473 |
| Equity | 13,064 | 13,389 | 12,500 | 12,756 | 12,873 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,600 | 4,207 | 3,796 | 3,433 | 3,395 |

## 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) | 31.2% | S100XYFO |
| Fixed assets ÷ total assets | 26.9% | S100XYFO |
| Goodwill ÷ parent equity | 0.1% | S100XYFO |

Goodwill over 4 years: 25 → 9 JPY; total investing cash flow: -3,200 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) | 14.5% |
| Cash ÷ revenue | 16.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 293.2% |
| Cash vs. profit gap | 443 JPY mn (of net income 222.9%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 42.4% |
| Shareholder payments — dividends / FCF | 69.7% |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | 61.2% |

## 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% | 0.88× | 4.2% | 1.93× | 8.2% | S100QLBW |
| 2023 | 2.6% | 0.86× | 2.2% | 1.92× | 4.2% | S100TA7H |
| 2024 | — | —× | -0.3% | —× | — | S100VLI7 |
| 2025 | — | —× | -1.0% | —× | — | S100XYFO |
| 2026 | 1.0% | 0.86× | 0.8% | 2.12× | 1.8% | S100XYFO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社タカオカ興産 | Major shareholder | 9.2% | 2026-01-20 |
| 日本マスタートラスト信託銀行株式会社（信託口) | Major shareholder | 8.9% | 2026-01-20 |
| 高 岡 伸 夫 | Major shareholder | 6.4% | 2026-01-20 |
| タカショー社員持株会 | Major shareholder | 3.0% | 2026-01-20 |
| 株式会社紀陽銀行 | Major shareholder | 1.4% | 2026-01-20 |
| 株式会社三菱UFJ銀行 | Major shareholder | 1.1% | 2026-01-20 |
| 橋本総業ホールディングス株式会社 | Major shareholder | 1.0% | 2026-01-20 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 0.9% | 2026-01-20 |
| 高 岡 友 貴 | Major shareholder | 0.9% | 2026-01-20 |
| 高 岡 淳 子 | Major shareholder | 0.8% | 2026-01-20 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第46期(2025/01/21－2026/01/20) | S100XYFO | 2026-04-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XYFO,, |
| 有価証券報告書－第45期(2024/01/21－2025/01/20) | S100VLI7 | 2025-04-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VLI7,, |
| 有価証券報告書－第44期(2023/01/21－2024/01/20) | S100TA7H | 2024-04-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TA7H,, |
| 有価証券報告書－第43期(2022/01/21－2023/01/20) | S100QLBW | 2023-04-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QLBW,, |
| 有価証券報告書－第42期(令和3年1月21日－令和4年1月20日) | S100NVPA | 2022-04-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NVPA,, |
| 訂正有価証券報告書－第41期(令和2年1月21日－令和3年1月20日) | S100MFGT | 2021-09-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MFGT,, |

## 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).