# Tokai Senko K.K.: 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106期(2025/04/01－2026/03/31) (S100YJEV)
> Page: https://vizora.meequs.com/en/company/tokai-senko
> Retrieved: 2026-09-30T22:19:54.702Z

## Company

Tokai Senko, founded in 1941, is a company in Textiles & Fibers listed on TSE Standard. It has 811 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Tokai Senko K.K. |
| Ticker | 3577 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3577.T) |
| Listing | TSE Standard |
| Head office | 愛知県清須市西枇杷島町子新田1番地の2 (同所は登記上の本店所在地で、実際の本店業務は下記で行っております。) |
| Representative (per filing) | 代表取締役社長 鷲 裕一 |
| Founded | Mar 1941 |
| Share capital | ¥4.3B |
| Employees (consolidated) | 811 |
| Average salary (parent only) | ¥4.7M |
| Fiscal year end | March |
| Website | www.tokai-senko.co.jp (https://www.tokai-senko.co.jp/) |
| Corporate number | 6180001031533 |
| EDINET | E00563 |
| Industries (Vizora) | Textiles & Fibers, Real Estate Development & Leasing, Specialty Trading & Wholesale, Apparel, Home & Lifestyle Services, Warehouses & Logistics Facilities, Childcare |

> Profile source: annual securities report (S100YJEV, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Textiles & Fibers (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 60.7 | 14 |
| Profitability | 28.1 | 16 |
| Cash conversion | 87.5 | 12 |
| Efficiency | 84.4 | 16 |

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 64% of Tokai Senko's sales come from Dyeing Division, with Child Care Support Services Division and Garment Division making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed -3.9% from the prior year, operating profit -61.0%.

## Company structure

- Segment revenue mix: Dyeing Division 64.2%、Child Care Support Services Division 30.8%、Garment Division 2.3%、Laundry service division 1.3%、Other 0.5%
- Revenue → net income: ¥13783753000 → ¥356157000
- Net income → operating cash flow: ¥356157000 → ¥557248000（difference ¥201091000）
- Main uses of operating cash flow: CapEx ¥313293000 / dividends ¥78911000 / buybacks ¥392000
- Change in cash: ¥-68458000
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 | ¥13.8B |  |
| Operating income | ¥163.7M | Margin 1.2% |
| Net income | ¥202M | Margin 1.5% |
| Free cash flow | ¥244M |  |
| Largest business | Dyeing Division | of segment revenue 64.2% |
| Employees (consolidated) | 811 |  |
| EPS | ¥36.46 |  |
| Book value per share | ¥2473.79 |  |
| Equity ratio | 52.9% |  |
| Shares outstanding | 3,614,252 |  |
| Treasury shares | 458,200 |  |
| Shareholders | 4,559 |  |
| Average salary (parent only) | ¥4.7M | Filing company only |
| Cash ratio | 20.1% | Cash ÷ revenue 21.8% |
| Vs. industry median margin | -2.2 pp | Textiles & Fibers |
| ROE | 3.0% | Derived from disclosed figures |
| ROA | 1.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.8× net income
- FY2026, segment profit share differs by 27 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥10624564000 | ¥13783753000 | +29.7% |
| Operating income | ¥-148376000 | ¥163705000 | — |
| Operating margin | -1.4% | 1.2% | +2.6 pp |
| Employees | 840 people | 811 people | -3.5% |
| Cash and equivalents | ¥2134655000 | ¥2999877000 | +40.5% |

### 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 |
| --- | ---: |
| 染色加工 → 染色加工 | 64.2% |
| 染色加工 → 事業再編・廃止 | 3.5% |
| 縫製品販売 → 縫製品販売 | 2.3% |
| 縫製品販売 → 事業再編・廃止 | 3.2% |
| 保育サービス → 事業再編・廃止 | 24.6% |
| 倉庫 → 倉庫 | 0.2% |
| 機械販売 → 機械販売 | 0.5% |
| 機械販売 → 事業再編・廃止 | 0.2% |
| 洗濯 → 洗濯 | 0.6% |
| その他 → その他 | 0.5% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 子育て支援 | 30.8% |
| 新設・再編 → 倉庫 | 0.1% |
| 新設・再編 → 洗濯 | 0.7% |

Segment revenue source references: 14 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Dyeing Division | 5 years | +4.2% | ¥8849974000 | -1.3% | 2 |
| Child Care Support Services Division | 3 years | +8.4% | ¥4245083000 | 3.3% | 2 |
| Garment Division | 5 years | -11.3% | ¥320843000 | 7.9% | 2 |
| Laundry service division | 5 years | +23.6% | ¥185748000 | 13.5% | 2 |
| Other | 5 years | +0.4% | ¥73535000 | 104.8% | 2 |
| Machine Sales Division | 5 years | -2.5% | ¥66176000 | 1.9% | 2 |
| Warehouse Division | 5 years | +14.6% | ¥42391000 | 19.2% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 13,784 | 100.0% | S100YJEV |
| Cost of revenue | 11,940 | 86.6% | S100YJEV |
| Gross profit | 1,844 | 13.4% | S100YJEV |
| SG&A | 1,680 | 12.2% | S100YJEV |
| Operating income | 164 | 1.2% | S100YJEV |
| Ordinary income | 311 | 2.3% | S100YJEV |
| Pretax income | 509 | 3.7% | S100YJEV |
| Income tax | 153 | 1.1% | S100YJEV |
| Net income | 356 | 2.6% | S100YJEV |
| Net income attributable to owners | 202 | 1.5% | S100YJEV |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 87 |
| SG&A | 12 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 13.4% → Operating margin 1.2% → Net margin 1.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -3.9%; Core profit growth: -61.0%
Operating leverage (core profit growth ÷ revenue growth): 15.53×
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 | 14,347 | 13,784 | -564 | -3.9% |
| Gross profit | 2,129 | 1,844 | -286 | -13.4% |
| Operating income | 420 | 164 | -256 | -61.0% |
| Net income attributable to owners | 312 | 202 | -110 | -35.2% |
| Operating cash flow | 809 | 557 | -252 | -31.1% |
| Free cash flow | 631 | 244 | -387 | -61.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 14,010 | 618 | 4.4% | -551 | 1,118 | 402 | S100LLGE |
| FY ending Mar 2021 | 10,625 | -148 | -1.4% | -174 | 320 | -158 | S100OAWK |
| FY ending Mar 2022 | 11,143 | 73 | 0.7% | 48 | 57 | -182 | S100R4YO |
| FY ending Mar 2023 | 13,057 | 52 | 0.4% | -101 | 189 | -101 | S100TRFD |
| FY ending Mar 2024 | 13,215 | 43 | 0.3% | 130 | 531 | 305 | S100W0AG |
| FY ending Mar 2025 | 14,347 | 420 | 2.9% | 312 | 809 | 631 | S100YJEV |
| FY ending Mar 2026 | 13,784 | 164 | 1.2% | 202 | 557 | 244 | S100YJEV |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17M |
| Operating income per employee (consolidated) | ¥201.9K |
| Net income per employee (consolidated) | ¥249.1K |

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) | 806 | 804 | 777 | 782 | 811 |
| Average salary (parent company) | ¥4.8M | ¥4.8M | ¥4.9M | ¥4.9M | ¥4.7M |
| Average age (parent company) | 45.0 years | 44.6 years | 45.5 years | 44.4 years | 45.4 years |
| Average tenure (parent company) | 20.2 years | 21.0 years | 21.0 years | 19.7 years | 21.3 years |

Year over year: Employees (consolidated) +3.7% · Revenue (consolidated) -3.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Dyeing Division | 8,850 | 64.2% | -115 | -1.3% |
| Garment Division | 321 | 2.3% | 25 | 7.9% |
| Child Care Support Services Division | 4,245 | 30.8% | 139 | 3.3% |
| Warehouse Division | 42 | 0.3% | 8 | 19.2% |
| Machine Sales Division | 66 | 0.5% | 1 | 1.9% |
| Laundry service division | 186 | 1.3% | 25 | 13.5% |
| Other | 74 | 0.5% | 77 | 104.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Dyeing Division | 64.2% | — | — | -1.3% |
| Garment Division | 2.3% | 9.2% | 6.9 | 7.9% |
| Child Care Support Services Division | 30.8% | 50.4% | 19.6 | 3.3% |
| Warehouse Division | 0.3% | 2.9% | 2.6 | 19.2% |
| Machine Sales Division | 0.5% | 0.4% | -0.0 | 1.9% |
| Laundry service division | 1.3% | 9.1% | 7.7 | 13.5% |
| Other | 0.5% | 27.9% | 27.4 | 104.8% |

Loss-making segment (excluded from profit shares): Dyeing Division -115 JPY mn

Segment → industry: Dyeing Division → Textiles & Fibers / Other → Real Estate Development & Leasing / Machine Sales Division → Specialty Trading & Wholesale / Garment Division → Apparel / Laundry service division → Home & Lifestyle Services / Warehouse Division → Warehouses & Logistics Facilities / Child Care Support Services Division → Childcare

## 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 | 557 | 4.0% | S100YJEV |
| Capital expenditure | 313 | 2.3% | S100YJEV |
| Free cash flow | 244 | 1.8% | 算出 |
| Investing cash flow | -87 | -0.6% | S100YJEV |
| Financing cash flow | -470 | -3.4% | S100YJEV |
| Dividends paid | 79 | 0.6% | S100YJEV |
| Share buyback | 0 | 0.0% | S100YJEV |
| Change in cash | -68 | -0.5% | S100YJEV |
| Cash and equivalents | 3,000 | 21.8% | S100YJEV |

## 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 | 2,321 | 2,502 | 2,680 | 3,068 | 3,000 | S100TRFD, S100W0AG, S100YJEV |
| Total assets | 13,384 | 13,938 | 14,554 | 14,892 | 14,916 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Net assets | 7,155 | 7,316 | 8,010 | 8,588 | 9,304 | S100TRFD, S100W0AG, S100YJEV |
| Share capital | 4,300 | 4,300 | 4,300 | 4,300 | 4,300 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Property, plant and equipment | 5,126 | 5,004 | 4,889 | 4,659 | 4,534 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Intangible assets excluding goodwill | 61 | 111 | 91 | 75 | 67 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Goodwill | — | 23 | 18 | 12 | 7 | S100TRFD, S100W0AG, S100YJEV |
| Investment securities | 1,885 | 2,046 | 2,598 | 2,697 | 3,613 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Current assets | 5,969 | 6,551 | 6,701 | 7,109 | 6,375 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Current liabilities | 3,198 | 3,781 | 3,692 | 3,703 | 2,912 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Trade payables | 641 | 646 | 566 | 721 | 541 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Short-term borrowings | 1,010 | 1,380 | 1,215 | 870 | 690 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Long-term borrowings | 1,525 | 1,390 | 1,250 | 1,225 | 1,145 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Total liabilities | 6,229 | 6,622 | 6,544 | 6,304 | 5,613 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Non-controlling interests | 961 | 1,086 | 1,174 | 1,423 | 1,414 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Equity attributable to owners of parent | 6,603 | 6,372 | 6,438 | 6,687 | 6,809 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Retained earnings | 1,539 | 1,374 | 1,440 | 1,689 | 1,812 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |
| Treasury stock | -636 | -702 | -702 | -703 | -703 | S100R4YO, S100TRFD, S100W0AG, S100YJEV |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YJEV |
| Property, plant and equipment | 30% | S100YJEV |
| Intangibles and goodwill | 1% | S100YJEV |
| Investment securities | 24% | S100YJEV |
| Other assets | 25% | S100YJEV |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YJEV |
| Other liabilities | 34% | S100YJEV |
| Equity | 62% | S100YJEV |

### 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 | 13,384 | 13,938 | 14,554 | 14,892 | 14,916 |
| Equity | 7,155 | 7,316 | 8,010 | 8,588 | 9,304 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,321 | 2,502 | 2,680 | 3,068 | 3,000 |

## 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) | 32.9% | S100YJEV |
| Fixed assets ÷ total assets | 30.4% | S100YJEV |
| Goodwill ÷ parent equity | 0.1% | S100YJEV |

### 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) | 20.1% |
| Cash ÷ revenue | 21.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 340.4% |
| Cash vs. profit gap | 355 JPY mn (of net income 175.8%) |
| Shareholder returns / net income | 39.2% |
| Shareholder returns / FCF | 32.5% |
| Shareholder payments — dividends / net income | 39.1% |
| Shareholder payments — dividends / FCF | 32.3% |
| CapEx intensity (capex ÷ revenue) | 2.3% |
| Investing CF relative to operating CF | 15.7% |

## 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 | 0.4% | 0.83× | 0.4% | 2.03× | 0.7% | S100R4YO |
| 2023 | — | —× | -0.7% | —× | — | S100TRFD |
| 2024 | 1.0% | 0.93× | 0.9% | 2.22× | 2.0% | S100W0AG |
| 2025 | 2.2% | 0.97× | 2.1% | 2.24× | 4.7% | S100YJEV |
| 2026 | 1.5% | 0.92× | 1.4% | 2.21× | 3.0% | S100YJEV |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ミソノサービス株式会社 | Major shareholder | 17.3% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 5.0% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 4.5% | 2026-03-31 |
| 八代興産株式会社 | Major shareholder | 4.3% | 2026-03-31 |
| 日清紡ホールディングス株式会社 | Major shareholder | 3.7% | 2026-03-31 |
| 八代芳明 | Major shareholder | 3.4% | 2026-03-31 |
| 東陽倉庫株式会社 | Major shareholder | 3.1% | 2026-03-31 |
| 八代和彦 | Major shareholder | 3.0% | 2026-03-31 |
| 長瀬産業株式会社 | Major shareholder | 2.1% | 2026-03-31 |
| オー・ジー株式会社 | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第106期(2025/04/01－2026/03/31) | S100YJEV | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJEV,, |
| 有価証券報告書－第105期(2024/04/01－2025/03/31) | S100W0AG | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0AG,, |
| 有価証券報告書－第104期(2023/04/01－2024/03/31) | S100TRFD | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRFD,, |
| 有価証券報告書－第103期(2022/04/01－2023/03/31) | S100R4YO | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4YO,, |
| 有価証券報告書－第102期(令和3年4月1日－令和4年3月31日) | S100OAWK | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OAWK,, |
| 有価証券報告書－第101期(令和2年4月1日－令和3年3月31日) | S100LLGE | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLGE,, |

## 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).