# Teikoku Tsushin Kogyo 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104期(2025/04/01－2026/03/31) (S100YDZX)
> Page: https://vizora.meequs.com/en/company/teikoku-tsushin-kogyo
> Retrieved: 2026-09-30T19:14:45.267Z

## Company

Teikoku Tsushin Kogyo, founded in 1944, is a company in Electronic Components listed on TSE Prime. It has 1,678 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Teikoku Tsushin Kogyo Co., Ltd. |
| Ticker | 6763 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6763.T) |
| Listing | TSE Prime |
| Head office | 川崎市中原区苅宿45番1号 |
| Representative (per filing) | 代表取締役社長 羽生 満寿夫 |
| Founded | Aug 1944 |
| Share capital | ¥3.45B |
| Employees (consolidated) | 1,678 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Website | www.noble-j.co.jp (https://www.noble-j.co.jp/) |
| Corporate number | 2020001069741 |
| EDINET | E01782 |
| Industries (Vizora) | Electronic Components |

> Profile source: annual securities report (S100YDZX, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Electronic Components (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 72.6 | 53 |
| Profitability | 54.5 | 56 |
| Cash conversion | 63.5 | 48 |
| Efficiency | 17 | 56 |

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)

- Teikoku Tsushin Kogyo brought in ¥17.3B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +2.8% from the prior year, operating profit -30.4%.

## Company structure

- Segment revenue mix: Electric parts 100.0%
- Revenue → net income: ¥17256815000 → ¥1328104000
- Net income → operating cash flow: ¥1328104000 → ¥1934112000（difference ¥606008000）
- Main uses of operating cash flow: CapEx ¥3254912000 / dividends ¥949995000 / buybacks ¥502252000
- Change in cash: ¥-1906180000
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 | ¥17.3B |  |
| Operating income | ¥1.16B | Margin 6.7% |
| Net income | ¥1.27B | Margin 7.4% |
| Free cash flow | -¥1.32B |  |
| Largest business | Electric parts | of segment revenue 100.0% |
| Employees (consolidated) | 1,678 |  |
| EPS | ¥147.96 |  |
| Book value per share | ¥2211.97 |  |
| Equity ratio | 82.5% |  |
| Shares outstanding | 9,856,000 |  |
| Treasury shares | 470,800 |  |
| Shareholders | 3,799 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 26.4% | Cash ÷ revenue 53.1% |
| Vs. industry median margin | +0.8 pp | Electronic Components |
| ROE | 5.5% | Derived from disclosed figures |
| ROA | 3.7% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 26% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12022184000 | ¥17256815000 | +43.5% |
| Operating income | ¥755199000 | ¥1158008000 | +53.3% |
| Operating margin | 6.3% | 6.7% | +0.4 pp |
| Employees | 1,586 people | 1,678 people | +5.8% |
| Cash and equivalents | ¥6842532000 | ¥9158354000 | +33.8% |

### 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 |
| --- | ---: |
| 電子部品 → 電子部品 | 100.0% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 17,257 | 100.0% | S100YDZX |
| Cost of revenue | 12,198 | 70.7% | S100YDZX |
| Gross profit | 5,058 | 29.3% | S100YDZX |
| SG&A | 3,900 | 22.6% | S100YDZX |
| Operating income | 1,158 | 6.7% | S100YDZX |
| Ordinary income | 1,684 | 9.8% | S100YDZX |
| Pretax income | 2,138 | 12.4% | S100YDZX |
| Income tax | 810 | 4.7% | S100YDZX |
| Net income | 1,328 | 7.7% | S100YDZX |
| Net income attributable to owners | 1,274 | 7.4% | S100YDZX |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 22 |
| Operating income | 7 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 29.3% → Operating margin 6.7% → Net margin 7.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +2.8%; Core profit growth: -30.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -10.92×
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 | 16,790 | 17,257 | 467 | +2.8% |
| Gross profit | 5,329 | 5,058 | -271 | -5.1% |
| Operating income | 1,663 | 1,158 | -505 | -30.4% |
| Net income attributable to owners | 2,010 | 1,274 | -736 | -36.6% |
| Operating cash flow | 1,815 | 1,934 | 119 | +6.6% |
| Free cash flow | 930 | -1,321 | -2,251 | -242.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 12,500 | 624 | 5.0% | -84 | 1,199 | 395 | S100LQVI |
| FY ending Mar 2021 | 12,022 | 755 | 6.3% | 755 | 409 | -657 | S100OYPN |
| FY ending Mar 2022 | 15,109 | 1,699 | 11.2% | 1,582 | 1,789 | 1,188 | S100R8JZ |
| FY ending Mar 2023 | 16,494 | 1,602 | 9.7% | 1,385 | 1,634 | 767 | S100TSX0 |
| FY ending Mar 2024 | 15,224 | 947 | 6.2% | 1,363 | 2,923 | 2,339 | S100W5M5 |
| FY ending Mar 2025 | 16,790 | 1,663 | 9.9% | 2,010 | 1,815 | 930 | S100YDZX |
| FY ending Mar 2026 | 17,257 | 1,158 | 6.7% | 1,274 | 1,934 | -1,321 | S100YDZX |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥10.3M |
| Operating income per employee (consolidated) | ¥690.1K |
| Net income per employee (consolidated) | ¥758.9K |

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) | 1,605 | 1,677 | 1,571 | 1,729 | 1,678 |
| Average salary (parent company) | ¥6.1M | ¥6.1M | ¥6.1M | ¥6.2M | ¥6.2M |
| Average age (parent company) | 43.0 years | 42.6 years | 42.2 years | 41.8 years | 41.3 years |
| Average tenure (parent company) | 19.0 years | 18.8 years | 19.3 years | 19.4 years | 17.9 years |

Year over year: Employees (consolidated) -2.9% · Revenue (consolidated) +2.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Electric parts | 16,710 | 100.0% | 1,052 | 6.3% |

## 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 | 1,934 | 11.2% | S100YDZX |
| Capital expenditure | 3,255 | 18.9% | S100YDZX |
| Free cash flow | -1,321 | -7.7% | 算出 |
| Investing cash flow | -2,366 | -13.7% | S100YDZX |
| Financing cash flow | -1,626 | -9.4% | S100YDZX |
| Dividends paid | 950 | 5.5% | S100YDZX |
| Share buyback | 502 | 2.9% | S100YDZX |
| Change in cash | -1,906 | -11.0% | S100YDZX |
| Cash and equivalents | 9,158 | 53.1% | S100YDZX |

## 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 | 7,510 | 8,112 | 9,943 | 11,065 | 9,158 | S100TSX0, S100W5M5, S100YDZX |
| Total assets | 29,088 | 30,307 | 32,086 | 33,461 | 34,739 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Net assets | 24,349 | 25,697 | 27,411 | 28,409 | 29,303 | S100TSX0, S100W5M5, S100YDZX |
| Share capital | 3,453 | 3,453 | 3,453 | 3,453 | 3,453 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Trade receivables | 3,474 | 3,789 | 3,123 | 3,501 | 2,896 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Property, plant and equipment | 4,175 | 4,425 | 4,262 | 4,575 | 7,117 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Intangible assets excluding goodwill | 48 | 36 | 53 | 55 | 60 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Investment securities | 2,826 | 2,982 | 3,467 | 2,708 | 2,735 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Current assets | 17,812 | 19,075 | 19,541 | 21,250 | 18,847 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Current liabilities | 2,894 | 2,662 | 2,258 | 2,803 | 2,550 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Trade payables | 881 | 634 | 631 | 712 | 778 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Short-term borrowings | 43 | 42 | 46 | 47 | 47 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Total liabilities | 4,739 | 4,609 | 4,675 | 5,051 | 5,435 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Non-controlling interests | 524 | 567 | 628 | 621 | 633 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Equity attributable to owners of parent | 21,558 | 22,302 | 22,526 | 23,427 | 23,261 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Retained earnings | 13,439 | 14,184 | 14,249 | 15,438 | 15,756 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |
| Treasury stock | -791 | -791 | -632 | -961 | -1,445 | S100R8JZ, S100TSX0, S100W5M5, S100YDZX |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 26% | S100YDZX |
| Receivables | 8% | S100YDZX |
| Property, plant and equipment | 21% | S100YDZX |
| Intangibles and goodwill | 0% | S100YDZX |
| Investment securities | 8% | S100YDZX |
| Other assets | 37% | S100YDZX |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 2% | S100YDZX |
| Other liabilities | 14% | S100YDZX |
| Equity | 84% | S100YDZX |
| Other liabilities | 0% | S100YDZX |

### 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 | 29,088 | 30,307 | 32,086 | 33,461 | 34,739 |
| Equity | 24,349 | 25,697 | 27,411 | 28,409 | 29,303 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,510 | 8,112 | 9,943 | 11,065 | 9,158 |

## 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) | 41.2% | S100YDZX |
| Fixed assets ÷ total assets | 20.5% | S100YDZX |
| Goodwill ÷ parent equity | — | —, S100YDZX |

### 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) | 26.4% |
| Cash ÷ revenue | 53.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 167.0% |
| Cash vs. profit gap | 661 JPY mn (of net income 51.9%) |
| Shareholder returns / net income | 114.0% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 74.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 18.9% |
| Investing CF relative to operating CF | 122.3% |

## 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 | 10.5% | 0.52× | 5.4% | 1.35× | 7.3% | S100R8JZ |
| 2023 | 8.4% | 0.56× | 4.7% | 1.35× | 6.3% | S100TSX0 |
| 2024 | 9.0% | 0.49× | 4.4% | 1.39× | 6.1% | S100W5M5 |
| 2025 | 12.0% | 0.51× | 6.1% | 1.43× | 8.7% | S100YDZX |
| 2026 | 7.4% | 0.51× | 3.7% | 1.46× | 5.5% | S100YDZX |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 10.9% | 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 | 9.8% | 2026-03-31 |
| NIPPON ACTIVE VALUE FUND PLC(常任代理人 香港上海銀行東京支店) | Major shareholder | 5.3% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 4.8% | 2026-03-31 |
| 有限会社丸子興業 | Major shareholder | 4.4% | 2026-03-31 |
| ノーブル協力会 | Major shareholder | 3.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.2% | 2026-03-31 |
| 帝通工従業員持株会 | Major shareholder | 2.9% | 2026-03-31 |
| 菊池 公男 | Major shareholder | 2.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 株式会社みずほ銀行) | Major shareholder | 2.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第104期(2025/04/01－2026/03/31) | S100YDZX | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDZX,, |
| 有価証券報告書－第103期(2024/04/01－2025/03/31) | S100W5M5 | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5M5,, |
| 有価証券報告書－第102期(2023/04/01－2024/03/31) | S100TSX0 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSX0,, |
| 有価証券報告書－第101期(2022/04/01－2023/03/31) | S100R8JZ | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8JZ,, |
| 訂正有価証券報告書－第100期(令和3年4月1日－令和4年3月31日) | S100OYPN | 2022-08-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OYPN,, |
| 有価証券報告書－第99期(令和2年4月1日－令和3年3月31日) | S100LQVI | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQVI,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 加賀電子 | Supply/OEM | 帝国通信工業の部品を加賀電子が販売（販売代理店契約） | S100YNQJ |

## 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).