# TECHNO HORIZON 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16期(2025/04/01－2026/03/31) (S100YLV9)
> Page: https://vizora.meequs.com/en/company/technohorizon
> Retrieved: 2026-09-30T21:31:39.397Z

## Company

Techno Horizon, founded in 2009, is a company in Robots & Factory Automation listed on TSE Standard. It has 1,506 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TECHNO HORIZON CO.,LTD. |
| Ticker | 6629 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6629.T) |
| Listing | TSE Standard |
| Head office | 名古屋市南区千竈通二丁目13番地1 |
| Representative (per filing) | 代表取締役社長 野村拡伸 |
| Founded | Oct 2009 |
| Share capital | ¥2.5B |
| Employees (consolidated) | 1,506 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | March |
| Website | www.technohorizon.co.jp (https://www.technohorizon.co.jp/) |
| Corporate number | 4180001088600 |
| EDINET | E23871 |
| Industries (Vizora) | Robots & Factory Automation, Auto Parts, Cameras & Optics, TVs, Audio & Musical Instruments |

> Profile source: annual securities report (S100YLV9, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Cameras & Optics (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 92.9 | 7 |
| Profitability | 35.7 | 7 |
| Cash conversion | 58.3 | 6 |
| Efficiency | 93.8 | 8 |

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 74% of Techno Horizon's sales come from Imaging and IT, with Robotics making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +1.5% from the prior year, operating profit +524.2%.

## Company structure

- Segment revenue mix: Imaging and IT 73.5%、Robotics 26.5%
- Revenue → net income: ¥51380632000 → ¥2461398000
- Net income → operating cash flow: ¥2461398000 → ¥4513054000（difference ¥2051656000）
- Main uses of operating cash flow: CapEx ¥374377000 / dividends ¥161723000 / buybacks —
- Change in cash: ¥1196833000
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 | ¥51.4B |  |
| Operating income | ¥2.33B | Margin 4.5% |
| Net income | ¥2.46B | Margin 4.8% |
| Free cash flow | ¥4.14B |  |
| Largest business | Imaging and IT | of segment revenue 73.5% |
| Employees (consolidated) | 1,506 |  |
| EPS | ¥151.09 |  |
| Book value per share | ¥679.93 |  |
| Equity ratio | 31.2% |  |
| Shares outstanding | 21,063,240 |  |
| Treasury shares | 7,586,200 |  |
| Shareholders | 10,160 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 11.9% | Cash ÷ revenue 9.1% |
| Vs. industry median margin | -1.4 pp | Cameras & Optics |
| ROE | 29.0% | Derived from disclosed figures |
| ROA | 6.4% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 80% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥26481026000 | ¥51380632000 | +94.0% |
| Operating income | ¥2417775000 | ¥2332115000 | -3.5% |
| Operating margin | 9.1% | 4.5% | -4.6 pp |
| Employees | 1,069 people | 1,506 people | +40.9% |
| Cash and equivalents | ¥8284249000 | ¥4688649000 | -43.4% |

### 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 |
| --- | ---: |
| 映像＆ＩＴ事業 → 映像＆ＩＴ事業 | 40.5% |
| 光学事業 → 事業再編・廃止 | 35.2% |
| ロボティクス事業 → ロボティクス事業 | 9.5% |
| 電子事業 → 事業再編・廃止 | 14.8% |
| 新設・再編 → 映像＆ＩＴ事業 | 33.0% |
| 新設・再編 → ロボティクス事業 | 17.0% |

Segment revenue source references: 6 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 51,381 | 100.0% | S100YLV9 |
| Cost of revenue | 39,690 | 77.2% | S100YLV9 |
| Gross profit | 11,690 | 22.8% | S100YLV9 |
| SG&A | 9,358 | 18.2% | S100YLV9 |
| Operating income | 2,332 | 4.5% | S100YLV9 |
| Ordinary income | 2,887 | 5.6% | S100YLV9 |
| Pretax income | 3,200 | 6.2% | S100YLV9 |
| Income tax | 738 | 1.4% | S100YLV9 |
| Net income | 2,461 | 4.8% | S100YLV9 |
| Net income attributable to owners | 2,462 | 4.8% | S100YLV9 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 18 |
| Operating income | 5 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 22.8% → Operating margin 4.5% → Net margin 4.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.5%; Core profit growth: +524.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 351.03×
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 | 50,625 | 51,381 | 756 | +1.5% |
| Gross profit | 10,354 | 11,690 | 1,337 | +12.9% |
| Operating income | 374 | 2,332 | 1,958 | +524.2% |
| Net income attributable to owners | -616 | 2,462 | 3,078 | — |
| Operating cash flow | 850 | 4,513 | 3,663 | +430.8% |
| Free cash flow | 510 | 4,139 | 3,628 | +710.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 22,358 | 1,444 | 6.5% | 1,320 | 2,050 | 1,659 | S100LS54 |
| FY ending Mar 2021 | 26,481 | 2,418 | 9.1% | 2,144 | 1,654 | 1,183 | S100OHDL |
| FY ending Mar 2022 | 34,522 | 750 | 2.2% | 431 | 1,030 | 279 | S100R6MA |
| FY ending Mar 2023 | 43,765 | -530 | -1.2% | -1,553 | -1,271 | -1,981 | S100TSOC |
| FY ending Mar 2024 | 48,624 | 1,037 | 2.1% | 1,001 | 1,369 | 750 | S100W8WL |
| FY ending Mar 2025 | 50,625 | 374 | 0.7% | -616 | 850 | 510 | S100YLV9 |
| FY ending Mar 2026 | 51,381 | 2,332 | 4.5% | 2,462 | 4,513 | 4,139 | S100YLV9 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.1M |
| Operating income per employee (consolidated) | ¥1.5M |
| Net income per employee (consolidated) | ¥1.6M |

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) | 1,310 | 1,312 | 1,416 | 1,457 | 1,506 |
| Average salary (parent company) | ¥5M | ¥5M | ¥5.2M | ¥5.1M | ¥5.2M |
| Average age (parent company) | 44.6 years | 46.2 years | 46.8 years | 46.0 years | 45.8 years |
| Average tenure (parent company) | 1.0 years | 1.8 years | 3.1 years | 3.7 years | 4.4 years |

Year over year: Employees (consolidated) +3.4% · Revenue (consolidated) +1.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Imaging and IT | 37,769 | 73.5% | 1,869 | 4.9% |
| Robotics | 13,612 | 26.5% | 461 | 3.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Imaging and IT | 73.5% | 80.2% | 6.7 | 4.9% |
| Robotics | 26.5% | 19.8% | -6.7 | 3.4% |

Segment → industry: Robotics → Robots & Factory Automation / Robotics → Auto Parts / Imaging and IT → Cameras & Optics / Imaging and IT → TVs, Audio & Musical Instruments

## 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 | 4,513 | 8.8% | S100YLV9 |
| Capital expenditure | 374 | 0.7% | S100YLV9 |
| Free cash flow | 4,139 | 8.1% | 算出 |
| Investing cash flow | 132 | 0.3% | S100YLV9 |
| Financing cash flow | -3,583 | -7.0% | S100YLV9 |
| Dividends paid | 162 | 0.3% | S100YLV9 |
| Change in cash | 1,197 | 2.3% | S100YLV9 |
| Cash and equivalents | 4,689 | 9.1% | S100YLV9 |

## 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 | 4,145 | 3,683 | 3,191 | 3,439 | 4,689 | S100TSOC, S100W8WL, S100YLV9 |
| Total assets | 31,781 | 36,904 | 36,093 | 37,397 | 39,412 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Net assets | 9,735 | 8,711 | 9,813 | 10,098 | 12,278 | S100TSOC, S100W8WL, S100YLV9 |
| Share capital | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Trade receivables | 7,753 | 11,296 | 11,025 | 13,514 | — | S100R6MA, S100TSOC, S100W8WL |
| Property, plant and equipment | 4,690 | 4,755 | 5,362 | 5,364 | 5,159 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Intangible assets excluding goodwill | 4,163 | 2,994 | 2,739 | 2,220 | 2,223 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Goodwill | 2,526 | 1,455 | 1,308 | 823 | 997 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Investment securities | 809 | 880 | 387 | 457 | 374 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Current assets | 20,934 | 27,387 | 26,361 | 28,399 | 30,732 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Current liabilities | 16,547 | 22,759 | 21,128 | 22,561 | 23,562 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Trade payables | 4,490 | 8,388 | 6,083 | 5,713 | 6,944 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Short-term borrowings | 9,169 | 11,191 | 10,776 | 9,624 | 8,167 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Long-term borrowings | 4,676 | 4,698 | 4,212 | 3,877 | 2,875 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Total liabilities | 22,046 | 28,192 | 26,279 | 27,299 | 27,134 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Non-controlling interests | — | 6 | 14 | 9 | — | S100TSOC, S100W8WL, S100YLV9 |
| Equity attributable to owners of parent | 9,000 | 7,177 | 8,091 | 7,386 | 9,598 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Retained earnings | 4,932 | 3,109 | 4,052 | 3,347 | 5,568 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |
| Treasury stock | -1,918 | -1,918 | -1,918 | -1,918 | -1,918 | S100R6MA, S100TSOC, S100W8WL, S100YLV9 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 12% | S100YLV9 |
| Property, plant and equipment | 13% | S100YLV9 |
| Intangibles and goodwill | 8% | S100YLV9 |
| Investment securities | 1% | S100YLV9 |
| Other assets | 66% | S100YLV9 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 18% | S100YLV9 |
| Other liabilities | 51% | S100YLV9 |
| Equity | 31% | S100YLV9 |
| Other liabilities | 0% | S100YLV9 |

### 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 | 31,781 | 36,904 | 36,093 | 37,397 | 39,412 |
| Equity | 9,735 | 8,711 | 9,813 | 10,098 | 12,278 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,145 | 3,683 | 3,191 | 3,439 | 4,689 |

## 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) | 10.0% | S100YLV9 |
| Fixed assets ÷ total assets | 13.1% | S100YLV9 |
| Goodwill ÷ parent equity | 10.4% | S100YLV9 |

Goodwill over 4 years: 2,526 → 997 JPY; total investing cash flow: -7,108 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) | 11.9% |
| Cash ÷ revenue | 9.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 193.5% |
| Cash vs. profit gap | 2,051 JPY mn (of net income 83.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 6.6% |
| Shareholder payments — dividends / FCF | 3.9% |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 2.9% |

## 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 | 1.2% | 1.09× | 1.4% | 3.53× | 4.8% | S100R6MA |
| 2023 | — | —× | -4.5% | —× | — | S100TSOC |
| 2024 | 2.1% | 1.33× | 2.7% | 4.78× | 13.1% | S100W8WL |
| 2025 | — | —× | -1.7% | —× | — | S100YLV9 |
| 2026 | 4.8% | 1.34× | 6.4% | 4.52× | 29.0% | S100YLV9 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社野村トラスト | Major shareholder | 11.0% | 2026-03-31 |
| 有限会社野村興産 | Major shareholder | 4.3% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 2.1% | 2026-03-31 |
| 株式会社大垣共立銀行 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 1.9% | 2026-03-31 |
| 榊 雅信 | Major shareholder | 1.9% | 2026-03-31 |
| モルガン・スタンレーＭＵＦＧ証券株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| テクノホライゾン従業員持株会 | Major shareholder | 1.6% | 2026-03-31 |
| ＵＢＳ ＡＧ ＬＯＮＤＯＮ Ａ／Ｃ ＩＰＢ ＳＥＧＲＥＧＡＴＥＤ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ（常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 1.6% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＬＩＥＮＴ ＯＭＮＩＢＵＳ ＡＣＣＯＵＮＴ（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.5% | 2026-03-31 |
| ＪＰＭＳＬＬＣ ＣＬ ＪＰＹ（常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第16期(2025/04/01－2026/03/31) | S100YLV9 | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLV9,, |
| 有価証券報告書－第15期(2024/04/01－2025/03/31) | S100W8WL | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8WL,, |
| 有価証券報告書－第14期(2023/04/01－2024/03/31) | S100TSOC | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSOC,, |
| 有価証券報告書－第13期(2022/04/01－2023/03/31) | S100R6MA | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6MA,, |
| 有価証券報告書－第12期(令和3年4月1日－令和4年3月31日) | S100OHDL | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHDL,, |
| 有価証券報告書－第11期(令和2年4月1日－令和3年3月31日) | S100LS54 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LS54,, |

## 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).