# TEIKOKU CORPORATION: 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122期(2025/04/01－2026/03/31) (S100YL5Z)
> Page: https://vizora.meequs.com/en/company/teikoku
> Retrieved: 2026-09-30T21:00:47.242Z

## Company

Teikoku, founded in 1939, is a company in Industrial Machinery listed on TSE Prime. It has 1,145 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TEIKOKU CORPORATION (旧英訳名 TEIKOKU ELECTRIC MFG.CO.,LTD.) (注)2025年6月26日開催の第121回定時株主総会の決議により、2026年4月1日から会社名を上記のとおり変更いたしました。 |
| Ticker | 6333 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6333.T) |
| Listing | TSE Prime |
| Head office | 兵庫県たつの市新宮町平野60番地 |
| Representative (per filing) | 代表取締役社長執行役員 村田 潔 |
| Founded | Sep 1939 |
| Share capital | ¥3.14B |
| Employees (consolidated) | 1,145 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.teikokucp.co.jp (https://www.teikokucp.co.jp/) |
| Corporate number | 3140001039376 |
| EDINET | E01761 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YL5Z, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 59.5 | 110 |
| Profitability | 91.4 | 122 |
| Cash conversion | 22 | 116 |
| Efficiency | 47.1 | 122 |

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 brought in ¥29.1B in revenue.
- Out of every ¥100 of sales, about ¥17 is left as operating profit.
- Revenue changed -4.8% from the prior year, operating profit -17.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥29091243000 → ¥4664280000
- Net income → operating cash flow: ¥4664280000 → ¥2697946000（difference ¥-1966334000）
- Main uses of operating cash flow: CapEx ¥793785000 / dividends ¥2059790000 / buybacks ¥3459264000
- Change in cash: ¥-2200284000
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 | ¥29.1B |  |
| Operating income | ¥4.98B | Margin 17.1% |
| Net income | ¥4.34B | Margin 14.9% |
| Free cash flow | ¥1.9B |  |
| Employees (consolidated) | 1,145 |  |
| EPS | ¥264.57 |  |
| Book value per share | ¥1216.96 |  |
| Equity ratio | 78.0% |  |
| Shares outstanding | 15,780,038 |  |
| Treasury shares | 452,700 |  |
| Shareholders | 6,737 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 24.4% | Cash ÷ revenue 33.7% |
| Vs. industry median margin | +9.6 pp | Industrial Machinery |
| ROE | 15.6% | Derived from disclosed figures |
| ROA | 10.5% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.7× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥19910021000 | ¥29091243000 | +46.1% |
| Operating income | ¥2262914000 | ¥4983041000 | +120.2% |
| Operating margin | 11.4% | 17.1% | +5.8 pp |
| Employees | 1,267 people | 1,145 people | -9.6% |
| Cash and equivalents | ¥11810351000 | ¥9798324000 | -17.0% |

### 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 |
| --- | ---: |
| ポンプ事業 → 事業再編・廃止 | 89.9% |
| 電子部品事業 → 事業再編・廃止 | 8.0% |
| その他 → 事業再編・廃止 | 2.2% |

Segment revenue source references: 3 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,091 | 100.0% | S100YL5Z |
| Cost of revenue | 16,683 | 57.3% | S100YL5Z |
| Gross profit | 12,408 | 42.7% | S100YL5Z |
| SG&A | 7,425 | 25.5% | S100YL5Z |
| Operating income | 4,983 | 17.1% | S100YL5Z |
| Ordinary income | 5,445 | 18.7% | S100YL5Z |
| Pretax income | 6,426 | 22.1% | S100YL5Z |
| Income tax | 1,762 | 6.1% | S100YL5Z |
| Net income | 4,664 | 16.0% | S100YL5Z |
| Net income attributable to owners | 4,342 | 14.9% | S100YL5Z |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 57 |
| SG&A | 26 |
| Operating income | 17 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 42.7% → Operating margin 17.1% → Net margin 14.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -4.8%; Core profit growth: -17.7%
Operating leverage (core profit growth ÷ revenue growth): 3.72×
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 | 30,546 | 29,091 | -1,455 | -4.8% |
| Gross profit | 13,886 | 12,408 | -1,478 | -10.6% |
| Operating income | 6,056 | 4,983 | -1,073 | -17.7% |
| Net income attributable to owners | 3,811 | 4,342 | 530 | +13.9% |
| Operating cash flow | 3,945 | 2,698 | -1,247 | -31.6% |
| Free cash flow | 2,905 | 1,904 | -1,001 | -34.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 23,576 | 3,751 | 15.9% | 3,155 | 3,472 | 2,673 | S100LUDG |
| FY ending Mar 2021 | 19,910 | 2,263 | 11.4% | 2,325 | 3,590 | 3,035 | S100OLGH |
| FY ending Mar 2022 | 22,244 | 2,495 | 11.2% | 1,988 | 3,767 | 2,829 | S100R88J |
| FY ending Mar 2023 | 28,451 | 5,023 | 17.7% | 3,997 | 4,853 | 4,479 | S100TU8A |
| FY ending Mar 2024 | 29,218 | 4,882 | 16.7% | 3,125 | 2,395 | 1,555 | S100W3G6 |
| FY ending Mar 2025 | 30,546 | 6,056 | 19.8% | 3,811 | 3,945 | 2,905 | S100YL5Z |
| FY ending Mar 2026 | 29,091 | 4,983 | 17.1% | 4,342 | 2,698 | 1,904 | S100YL5Z |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥25.4M |
| Operating income per employee (consolidated) | ¥4.4M |
| Net income per employee (consolidated) | ¥3.8M |

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) | 1,273 | 1,269 | 1,249 | 1,107 | 1,145 |
| Average salary (parent company) | ¥6.2M | ¥6.6M | ¥7M | ¥7.1M | ¥7.4M |
| Average age (parent company) | 38.9 years | 39.8 years | 40.3 years | 40.4 years | 40.7 years |
| Average tenure (parent company) | 15.7 years | 16.5 years | 16.7 years | 17.0 years | 17.2 years |

Year over year: Employees (consolidated) +3.4% · Revenue (consolidated) -4.8%

## 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 | 2,698 | 9.3% | S100YL5Z |
| Capital expenditure | 794 | 2.7% | S100YL5Z |
| Free cash flow | 1,904 | 6.5% | 算出 |
| Investing cash flow | 835 | 2.9% | S100YL5Z |
| Financing cash flow | -5,902 | -20.3% | S100YL5Z |
| Dividends paid | 2,060 | 7.1% | S100YL5Z |
| Share buyback | 3,459 | 11.9% | S100YL5Z |
| Change in cash | -2,200 | -7.6% | S100YL5Z |
| Cash and equivalents | 9,798 | 33.7% | S100YL5Z |

## 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 | 13,036 | 14,903 | 10,834 | 11,999 | 9,798 | S100TU8A, S100W3G6, S100YL5Z |
| Total assets | 39,001 | 41,597 | 42,040 | 42,397 | 40,205 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Net assets | 30,291 | 31,506 | 32,466 | 33,505 | 32,237 | S100TU8A, S100W3G6, S100YL5Z |
| Share capital | 3,144 | 3,144 | 3,144 | 3,144 | 3,144 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Property, plant and equipment | 8,690 | 9,000 | 8,659 | 8,754 | 7,953 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Intangible assets excluding goodwill | 182 | 128 | 134 | 104 | 141 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Investment securities | 1,063 | 766 | 1,209 | 1,148 | 366 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Current assets | 28,100 | 30,941 | 31,279 | 31,624 | 30,729 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Current liabilities | 7,368 | 8,222 | 7,663 | 7,634 | 7,087 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Trade payables | 2,111 | 2,007 | 1,861 | 2,048 | 1,764 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Short-term borrowings | 340 | 320 | — | — | — | S100R88J, S100TU8A |
| Long-term borrowings | 79 | 80 | — | — | — | S100R88J, S100TU8A |
| Total liabilities | 8,710 | 10,091 | 9,574 | 8,892 | 7,968 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Non-controlling interests | 272 | 413 | 615 | 766 | 882 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Equity attributable to owners of parent | 28,493 | 28,952 | 28,664 | 28,483 | 27,321 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Retained earnings | 23,882 | 24,353 | 24,504 | 23,042 | 22,436 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |
| Treasury stock | -1,865 | -1,476 | -1,915 | -634 | -1,190 | S100R88J, S100TU8A, S100W3G6, S100YL5Z |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 24% | S100YL5Z |
| Property, plant and equipment | 20% | S100YL5Z |
| Intangibles and goodwill | 0% | S100YL5Z |
| Investment securities | 1% | S100YL5Z |
| Other assets | 55% | S100YL5Z |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YL5Z |
| Other liabilities | 16% | S100YL5Z |
| Equity | 80% | S100YL5Z |

### 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 | 39,001 | 41,597 | 42,040 | 42,397 | 40,205 |
| Equity | 30,291 | 31,506 | 32,466 | 33,505 | 32,237 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 13,036 | 14,903 | 10,834 | 11,999 | 9,798 |

## 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) | 27.3% | S100YL5Z |
| Fixed assets ÷ total assets | 19.8% | S100YL5Z |
| Goodwill ÷ parent equity | — | —, S100YL5Z |

### 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) | 24.4% |
| Cash ÷ revenue | 33.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 54.1% |
| Cash vs. profit gap | -1,644 JPY mn (of net income -37.9%) |
| Shareholder returns / net income | 127.1% |
| Shareholder returns / FCF | 289.8% |
| Shareholder payments — dividends / net income | 47.4% |
| Shareholder payments — dividends / FCF | 108.2% |
| CapEx intensity (capex ÷ revenue) | 2.7% |
| Investing CF relative to operating CF | 31.0% |

## 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 | 8.9% | 0.57× | 5.1% | 1.37× | 7.0% | S100R88J |
| 2023 | 14.0% | 0.71× | 9.9% | 1.40× | 13.9% | S100TU8A |
| 2024 | 10.7% | 0.70× | 7.5% | 1.45× | 10.8% | S100W3G6 |
| 2025 | 12.5% | 0.72× | 9.0% | 1.48× | 13.3% | S100YL5Z |
| 2026 | 14.9% | 0.70× | 10.5% | 1.48× | 15.6% | S100YL5Z |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| GOLDMAN,SACHS&CO.REG （常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 10.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.9% | 2026-03-31 |
| GOLDMAN SACHS INTERNATIONAL （常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 6.6% | 2026-03-31 |
| NORTHERN TRUST CO.(AVFC) RE NON TREATY CLIENTS ACCOUNT （常任代理人 香港上海銀行東京支店） | Major shareholder | 3.9% | 2026-03-31 |
| BBH FOR FIDELITY LOW-PRICED STOCK FUND （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 3.2% | 2026-03-31 |
| 株式会社日本カストディ銀行 | Major shareholder | 3.0% | 2026-03-31 |
| 帝国電機取引先持株会 | Major shareholder | 2.8% | 2026-03-31 |
| 刈田 耕太郎 | Major shareholder | 2.7% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 2.7% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 2.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第122期(2025/04/01－2026/03/31) | S100YL5Z | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YL5Z,, |
| 有価証券報告書－第121期(2024/04/01－2025/03/31) | S100W3G6 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3G6,, |
| 有価証券報告書－第120期(2023/04/01－2024/03/31) | S100TU8A | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TU8A,, |
| 有価証券報告書－第119期(2022/04/01－2023/03/31) | S100R88J | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R88J,, |
| 有価証券報告書－第118期(令和3年4月1日－令和4年3月31日) | S100OLGH | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLGH,, |
| 有価証券報告書－第117期(令和2年4月1日－令和3年3月31日) | S100LUDG | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUDG,, |

## 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).