# TAKEDA iP HOLDINGS CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第88期(2025/04/01－2026/03/31) (S100YT5G)
> Page: https://vizora.meequs.com/en/company/takeda-ip-holdings
> Retrieved: 2026-09-30T22:28:17.215Z

## Company

TAKEDA iP HOLDINGS, founded in 1946, is a company in Semiconductor Materials listed on TSE Standard. It has 929 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKEDA iP HOLDINGS CO., LTD. |
| Ticker | 7875 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7875.T) |
| Listing | TSE Standard |
| Head office | 愛知県名古屋市昭和区白金一丁目11番10号 |
| Representative (per filing) | 代表取締役社長 COO 細野 浩之 |
| Founded | Nov 1946 |
| Share capital | ¥1.94B |
| Employees (consolidated) | 929 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.takedaip-hd.co.jp (https://www.takedaip-hd.co.jp/) |
| Corporate number | 5180001008739 |
| EDINET | E00720 |
| Industries (Vizora) | Semiconductor Materials, Printing, Real Estate Development & Leasing, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YT5G, filed 2026-07-31). As of filing

## Five-axis industry profile

Primary industry: Printing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 54.3 | 23 |
| Profitability | 66.1 | 28 |
| Cash conversion | 14.6 | 24 |
| Efficiency | 62.5 | 28 |

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 47% of TAKEDA iP HOLDINGS's sales come from Information Communication business, with Solution Sales business and Semiconductor related masks business making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +0.8% from the prior year, operating profit -5.3%.

## Company structure

- Segment revenue mix: Information Communication business 46.8%、Solution Sales business 34.4%、Semiconductor related masks business 18.5%、real-estate leasing business 0.2%
- Revenue → net income: ¥34479000000 → ¥1118000000
- Net income → operating cash flow: ¥1118000000 → ¥1129000000（difference ¥11000000）
- Main uses of operating cash flow: CapEx ¥1992000000 / dividends ¥341000000 / buybacks —
- Change in cash: ¥-751000000
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 | ¥34.5B |  |
| Operating income | ¥1.3B | Margin 3.8% |
| Net income | ¥1.11B | Margin 3.2% |
| Free cash flow | -¥863M |  |
| Largest business | Information Communication business | of segment revenue 46.8% |
| Employees (consolidated) | 929 |  |
| EPS | ¥36.01 |  |
| Book value per share | ¥728.78 |  |
| Equity ratio | 57.3% |  |
| Shares outstanding | 8,781,000 |  |
| Treasury shares | 419,300 |  |
| Shareholders | 7,262 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 17.1% | Cash ÷ revenue 17.2% |
| Vs. industry median margin | +0.4 pp | Printing |
| ROE | 6.6% | Derived from disclosed figures |
| ROA | 3.4% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by -27 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥31108000000 | ¥34479000000 | +10.8% |
| Operating income | ¥360000000 | ¥1302000000 | +261.7% |
| Operating margin | 1.2% | 3.8% | +2.6 pp |
| Employees | 1,062 people | 929 people | -12.5% |
| Cash and equivalents | ¥4575000000 | ¥5935000000 | +29.7% |

### 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 |
| --- | ---: |
| 印刷 → 事業再編・廃止 | 64.3% |
| 物販 → 事業再編・廃止 | 35.7% |
| 新設・再編 → 情報コミュニケーション | 46.8% |
| 新設・再編 → ソリューションセールス | 34.4% |
| 新設・再編 → 半導体関連マスク | 18.5% |
| 新設・再編 → 不動産賃貸 | 0.2% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Information Communication business | 2 years | +0.9% | ¥16145000000 | 2.2% | 2 |
| Solution Sales business | 2 years | +7.9% | ¥11866000000 | 3.3% | 2 |
| Semiconductor related masks business | 3 years | +1.9% | ¥6387000000 | 8.9% | 2 |
| real-estate leasing business | 3 years | -0.8% | ¥79000000 | 536.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 34,479 | 100.0% | S100YT5G |
| Cost of revenue | 26,982 | 78.3% | S100YT5G |
| Gross profit | 7,497 | 21.7% | S100YT5G |
| SG&A | 6,194 | 18.0% | S100YT5G |
| Operating income | 1,302 | 3.8% | S100YT5G |
| Ordinary income | 1,455 | 4.2% | S100YT5G |
| Pretax income | 1,709 | 5.0% | S100YT5G |
| Income tax | 590 | 1.7% | S100YT5G |
| Net income | 1,118 | 3.2% | S100YT5G |
| Net income attributable to owners | 1,114 | 3.2% | S100YT5G |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 18 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 21.7% → Operating margin 3.8% → Net margin 3.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +0.8%; Core profit growth: -5.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -6.46×
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 | 34,198 | 34,479 | 281 | +0.8% |
| Gross profit | 7,310 | 7,497 | 187 | +2.6% |
| Operating income | 1,375 | 1,302 | -73 | -5.3% |
| Net income attributable to owners | 1,248 | 1,114 | -134 | -10.7% |
| Operating cash flow | 2,816 | 1,129 | -1,687 | -59.9% |
| Free cash flow | 997 | -863 | -1,860 | -186.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 35,651 | 502 | 1.4% | 381 | 727 | -83 | S100LNIK |
| FY ending Mar 2021 | 31,108 | 360 | 1.2% | -1,342 | 68 | -1,210 | S100OEC9 |
| FY ending Mar 2022 | 30,600 | 813 | 2.7% | 758 | 1,615 | 762 | S100R7U2 |
| FY ending Mar 2023 | 32,944 | 979 | 3.0% | 840 | 2,235 | 1,259 | S100TVUW |
| FY ending Mar 2024 | 31,669 | 820 | 2.6% | 851 | 1,249 | 101 | S100W4QN |
| FY ending Mar 2025 | 34,198 | 1,375 | 4.0% | 1,248 | 2,816 | 997 | S100YT5G |
| FY ending Mar 2026 | 34,479 | 1,302 | 3.8% | 1,114 | 1,129 | -863 | S100YT5G |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37.1M |
| Operating income per employee (consolidated) | ¥1.4M |
| Net income per employee (consolidated) | ¥1.2M |

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) | 1,010 | 1,016 | 928 | 901 | 929 |
| Average salary (parent company) | ¥5.2M | ¥5.2M | ¥5.6M | ¥5.3M | ¥5.4M |
| Average age (parent company) | 42.1 years | 42.3 years | 45.0 years | 43.6 years | 43.1 years |
| Average tenure (parent company) | 16.9 years | 16.7 years | 17.9 years | 17.4 years | 15.4 years |

Year over year: Employees (consolidated) +3.1% · Revenue (consolidated) +0.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Information Communication business | 16,145 | 46.8% | 348 | 2.2% |
| Solution Sales business | 11,866 | 34.4% | 392 | 3.3% |
| Semiconductor related masks business | 6,387 | 18.5% | 566 | 8.9% |
| real-estate leasing business | 79 | 0.2% | 424 | 536.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Information Communication business | 46.8% | 20.1% | -26.7 | 2.2% |
| Solution Sales business | 34.4% | 22.7% | -11.8 | 3.3% |
| Semiconductor related masks business | 18.5% | 32.7% | 14.2 | 8.9% |
| real-estate leasing business | 0.2% | 24.5% | 24.3 | 536.7% |

Segment → industry: Semiconductor related masks business → Semiconductor Materials / Information Communication business → Printing / real-estate leasing business → Real Estate Development & Leasing / Solution Sales business → Specialty Trading & Wholesale

## 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 | 1,129 | 3.3% | S100YT5G |
| Capital expenditure | 1,992 | 5.8% | S100YT5G |
| Free cash flow | -863 | -2.5% | 算出 |
| Investing cash flow | -1,458 | -4.2% | S100YT5G |
| Financing cash flow | -477 | -1.4% | S100YT5G |
| Dividends paid | 341 | 1.0% | S100YT5G |
| Change in cash | -751 | -2.2% | S100YT5G |
| Cash and equivalents | 5,935 | 17.2% | S100YT5G |

## 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 | 5,346 | 5,921 | 6,016 | 6,686 | 5,935 | S100TVUW, S100W4QN, S100YT5G |
| Total assets | 28,970 | 29,892 | 31,488 | 31,488 | 34,654 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Net assets | 14,932 | 15,821 | 17,387 | 18,345 | 19,998 | S100TVUW, S100W4QN, S100YT5G |
| Share capital | 1,937 | 1,937 | 1,937 | 1,937 | 1,937 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Trade receivables | 7,692 | 5,860 | 5,514 | 4,905 | 5,305 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Property, plant and equipment | 10,670 | 10,943 | 11,120 | 11,565 | 13,909 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Intangible assets excluding goodwill | 311 | 373 | 411 | 535 | 646 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Goodwill | 10 | 7 | 3 | — | — | S100R7U2, S100TVUW, S100W4QN |
| Investment securities | 1,955 | 2,189 | 3,435 | 2,872 | 3,647 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Current assets | 15,286 | 15,641 | 15,750 | 15,617 | 15,686 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Current liabilities | 9,451 | 9,321 | 9,209 | 9,261 | 10,022 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Trade payables | 2,752 | 2,754 | 2,638 | 2,491 | 2,845 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Short-term borrowings | 970 | 950 | 1,040 | 730 | 730 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Long-term borrowings | 876 | 1,044 | 859 | 737 | 670 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Total liabilities | 14,038 | 14,070 | 14,101 | 13,143 | 14,655 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Non-controlling interests | 125 | 124 | 125 | 140 | 141 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Equity attributable to owners of parent | 13,983 | 14,699 | 15,396 | 16,463 | 17,272 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Retained earnings | 10,686 | 11,374 | 12,025 | 13,057 | 13,830 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |
| Treasury stock | -434 | -406 | -360 | -332 | -305 | S100R7U2, S100TVUW, S100W4QN, S100YT5G |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 17% | S100YT5G |
| Receivables | 15% | S100YT5G |
| Property, plant and equipment | 40% | S100YT5G |
| Intangibles and goodwill | 2% | S100YT5G |
| Investment securities | 11% | S100YT5G |
| Other assets | 15% | S100YT5G |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 8% | S100YT5G |
| Other liabilities | 34% | S100YT5G |
| Equity | 58% | S100YT5G |
| Other liabilities | 0% | S100YT5G |

### 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 | 28,970 | 29,892 | 31,488 | 31,488 | 34,654 |
| Equity | 14,932 | 15,821 | 17,387 | 18,345 | 19,998 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,346 | 5,921 | 6,016 | 6,686 | 5,935 |

## 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) | 40.3% | S100YT5G |
| Fixed assets ÷ total assets | 40.1% | S100YT5G |
| Goodwill ÷ parent equity | — | —, S100YT5G |

### 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) | 17.1% |
| Cash ÷ revenue | 17.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 86.7% |
| Cash vs. profit gap | 15 JPY mn (of net income 1.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 30.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.8% |
| Investing CF relative to operating CF | 129.1% |

## 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 | 2.5% | 1.06× | 2.6% | 2.07× | 5.4% | S100R7U2 |
| 2023 | 2.5% | 1.12× | 2.9% | 2.05× | 5.9% | S100TVUW |
| 2024 | 2.7% | 1.03× | 2.8% | 2.04× | 5.7% | S100W4QN |
| 2025 | 3.6% | 1.09× | 4.0% | 1.98× | 7.8% | S100YT5G |
| 2026 | 3.2% | 1.04× | 3.4% | 1.96× | 6.6% | S100YT5G |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 竹田ｉＰホールディングス従業員持株会 | Major shareholder | 6.2% | 2026-03-31 |
| 各務三恵子 | Major shareholder | 4.5% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 4.2% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社あいち銀行 | Major shareholder | 2.5% | 2026-03-31 |
| 日本特殊陶業株式会社 | Major shareholder | 2.5% | 2026-03-31 |
| アイカ工業株式会社 | Major shareholder | 2.4% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社ｆｈｅｓ | Major shareholder | 2.2% | 2026-03-31 |
| 竹田孝子 | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第88期(2025/04/01－2026/03/31) | S100YT5G | 2026-07-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YT5G,, |
| 有価証券報告書－第87期(2024/04/01－2025/03/31) | S100W4QN | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4QN,, |
| 有価証券報告書－第86期(2023/04/01－2024/03/31) | S100TVUW | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVUW,, |
| 有価証券報告書－第85期(2022/04/01－2023/03/31) | S100R7U2 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7U2,, |
| 有価証券報告書－第84期(令和3年4月1日－令和4年3月31日) | S100OEC9 | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEC9,, |
| 有価証券報告書－第83期(令和2年4月1日－令和3年3月31日) | S100LNIK | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNIK,, |

## 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).