# TOKYO AUTOMATIC MACHINERY WORKS, LTD: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第77期(2025/04/01－2026/03/31) (S100YHZL)
> Page: https://vizora.meequs.com/en/company/tokyo-automatic-machinery-works
> Retrieved: 2026-09-30T22:33:32.909Z

## Company

Tokyo Automatic Machinery Works, founded in 1944, is a company in Industrial Machinery listed on TSE Standard. It has 278 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOKYO AUTOMATIC MACHINERY WORKS, LTD. |
| Ticker | 6360 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6360.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区岩本町3丁目10番7号東自機ビル |
| Representative (per filing) | 代表取締役社長 佐藤康公 |
| Founded | Jun 1944 |
| Share capital | ¥954M |
| Employees (consolidated) | 278 |
| Average salary (parent only) | ¥7.1M |
| Fiscal year end | March |
| Corporate number | 7010001034205 |
| EDINET | E01534 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YHZL, filed 2026-06-24). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 5 | 110 |
| Profitability | 44.7 | 122 |
| Cash conversion | 90.9 | 116 |
| Efficiency | 16.8 | 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)

- About 67% of Tokyo Automatic Machinery Works's sales come from Package machine, with Production machine making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed -24.8% from the prior year, operating profit -57.2%.

## Company structure

- Segment revenue mix: Package machine 67.5%、Production machine 32.5%
- Revenue → net income: ¥9692993000 → ¥808460000
- Net income → operating cash flow: ¥808460000 → ¥2280087000（difference ¥1471627000）
- Main uses of operating cash flow: CapEx ¥200508000 / dividends ¥343293000 / buybacks ¥801000
- Change in cash: ¥1806486000
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 | ¥9.69B |  |
| Operating income | ¥669.2M | Margin 6.9% |
| Net income | ¥808.5M | Margin 8.3% |
| Free cash flow | ¥2.08B |  |
| Largest business | Package machine | of segment revenue 67.5% |
| Employees (consolidated) | 278 |  |
| EPS | ¥576.01 |  |
| Book value per share | ¥7240.61 |  |
| Equity ratio | 58.3% |  |
| Shares outstanding | 1,452,000 |  |
| Treasury shares | 47,400 |  |
| Shareholders | 923 |  |
| Average salary (parent only) | ¥7.1M | Filing company only |
| Cash ratio | 30.6% | Cash ÷ revenue 55.0% |
| Vs. industry median margin | -0.7 pp | Industrial Machinery |
| ROE | 10.0% | Derived from disclosed figures |
| ROA | 4.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.8× net income
- FY2026, one segment accounts for 68% of positive segment profit
- FY2026, segment profit share differs by -36 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥10708596000 | ¥9692993000 | -9.5% |
| Operating income | ¥620991000 | ¥669217000 | +7.8% |
| Operating margin | 5.8% | 6.9% | +1.1 pp |
| Employees | 250 people | 278 people | +11.2% |
| Cash and equivalents | ¥1743395000 | ¥5335800000 | +206.1% |

### 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 |
| --- | ---: |
| 包装機械 → 包装機械 | 46.7% |
| 生産機械 → 生産機械 | 32.5% |
| 生産機械 → 事業再編・廃止 | 20.8% |
| 新設・再編 → 包装機械 | 20.8% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 9,693 | 100.0% | S100YHZL |
| Cost of revenue | 6,971 | 71.9% | S100YHZL |
| Gross profit | 2,722 | 28.1% | S100YHZL |
| SG&A | 2,052 | 21.2% | S100YHZL |
| Operating income | 669 | 6.9% | S100YHZL |
| Ordinary income | 866 | 8.9% | S100YHZL |
| Pretax income | 1,105 | 11.4% | S100YHZL |
| Income tax | 296 | 3.1% | S100YHZL |
| Net income | 808 | 8.3% | S100YHZL |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 72 |
| SG&A | 21 |
| Operating income | 7 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 28.1% → Operating margin 6.9% → Net margin 8.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -24.8%; Core profit growth: -57.2%
Operating leverage (core profit growth ÷ revenue growth): 2.31×
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 | 12,890 | 9,693 | -3,197 | -24.8% |
| Gross profit | 3,726 | 2,722 | -1,004 | -26.9% |
| Operating income | 1,565 | 669 | -896 | -57.2% |
| Operating cash flow | 1,014 | 2,280 | 1,266 | +124.9% |
| Free cash flow | 961 | 2,080 | 1,119 | +116.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 12,338 | 779 | 6.3% | 642 | 709 | 660 | S100LRCK |
| FY ending Mar 2021 | 10,709 | 621 | 5.8% | 545 | 1,073 | 1,025 | S100OG85 |
| FY ending Mar 2022 | 8,819 | 386 | 4.4% | 373 | 3,031 | 3,005 | S100R4PR |
| FY ending Mar 2023 | 13,306 | 986 | 7.4% | 800 | -91 | -164 | S100TQWI |
| FY ending Mar 2024 | 13,459 | 1,388 | 10.3% | 1,117 | -1,365 | -1,401 | S100W33R |
| FY ending Mar 2025 | 12,890 | 1,565 | 12.1% | 1,222 | 1,014 | 961 | S100YHZL |
| FY ending Mar 2026 | 9,693 | 669 | 6.9% | 808 | 2,280 | 2,080 | S100YHZL |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.9M |
| Operating income per employee (consolidated) | ¥2.4M |
| Net income per employee (consolidated) | ¥2.9M |

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) | 256 | 256 | 266 | 275 | 278 |
| Average salary (parent company) | ¥6.5M | ¥6.1M | ¥6.8M | ¥6.9M | ¥7.1M |
| Average age (parent company) | 42.9 years | 42.7 years | 42.7 years | 43.2 years | 43.3 years |
| Average tenure (parent company) | 19.2 years | 19.3 years | 18.7 years | 19.0 years | 19.2 years |

Year over year: Employees (consolidated) +1.1% · Revenue (consolidated) -24.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Package machine | 6,541 | 67.5% | 407 | 6.2% |
| Production machine | 3,152 | 32.5% | 880 | 27.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Package machine | 67.5% | 31.6% | -35.8 | 6.2% |
| Production machine | 32.5% | 68.4% | 35.8 | 27.9% |

Segment → industry: Production machine → Industrial Machinery / Package machine → Industrial Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,280 | 23.5% | S100YHZL |
| Capital expenditure | 201 | 2.1% | S100YHZL |
| Free cash flow | 2,080 | 21.5% | 算出 |
| Investing cash flow | -35 | -0.4% | S100YHZL |
| Financing cash flow | -439 | -4.5% | S100YHZL |
| Dividends paid | 343 | 3.5% | S100YHZL |
| Share buyback | 1 | 0.0% | S100YHZL |
| Change in cash | 1,806 | 18.6% | S100YHZL |
| Cash and equivalents | 5,336 | 55.0% | S100YHZL |

## 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 | 4,676 | 4,499 | 2,812 | 3,529 | 5,336 | S100TQWI, S100W33R, S100YHZL |
| Total assets | 13,973 | 17,287 | 16,627 | 15,856 | 17,426 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Net assets | 5,719 | 6,679 | 8,075 | 9,440 | 10,162 | S100TQWI, S100W33R, S100YHZL |
| Share capital | 954 | 954 | 954 | 954 | 954 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Property, plant and equipment | 2,104 | 2,091 | 2,127 | 2,085 | 2,203 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Intangible assets excluding goodwill | 40 | 46 | 40 | 33 | 34 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Investment securities | 1,603 | 1,885 | 2,414 | 2,891 | 3,293 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Current assets | 9,177 | 12,301 | 11,129 | 9,860 | 10,847 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Current liabilities | 6,180 | 8,588 | 7,046 | 4,108 | 4,798 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Long-term borrowings | 820 | 762 | 142 | 808 | 741 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Total liabilities | 8,255 | 10,607 | 8,553 | 6,416 | 7,264 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Equity attributable to owners of parent | 5,005 | 5,748 | 6,778 | 7,833 | 8,296 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Retained earnings | 3,684 | 4,426 | 5,457 | 6,507 | 6,970 | S100R4PR, S100TQWI, S100W33R, S100YHZL |
| Treasury stock | -89 | -88 | -89 | -83 | -84 | S100R4PR, S100TQWI, S100W33R, S100YHZL |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100YHZL |
| Property, plant and equipment | 13% | S100YHZL |
| Intangibles and goodwill | 0% | S100YHZL |
| Investment securities | 19% | S100YHZL |
| Other assets | 38% | S100YHZL |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 42% | S100YHZL |
| Equity | 58% | S100YHZL |
| Other liabilities | 0% | S100YHZL |

### 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 | 13,973 | 17,287 | 16,627 | 15,856 | 17,426 |
| Equity | 5,719 | 6,679 | 8,075 | 9,440 | 10,162 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,676 | 4,499 | 2,812 | 3,529 | 5,336 |

## 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) | 22.7% | S100YHZL |
| Fixed assets ÷ total assets | 12.6% | S100YHZL |
| Goodwill ÷ parent equity | — | —, S100YHZL |

### 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) | 30.6% |
| Cash ÷ revenue | 55.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 340.7% |
| Cash vs. profit gap | 1,472 JPY mn (of net income 182.0%) |
| Shareholder returns / net income | 42.6% |
| Shareholder returns / FCF | 16.5% |
| Shareholder payments — dividends / net income | 42.5% |
| Shareholder payments — dividends / FCF | 16.5% |
| CapEx intensity (capex ÷ revenue) | 2.1% |
| Investing CF relative to operating CF | 1.5% |

## 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 | 4.2% | 0.63× | 2.7% | 2.79× | 7.5% | S100R4PR |
| 2023 | 6.0% | 0.85× | 5.1% | 2.91× | 14.9% | S100TQWI |
| 2024 | 8.3% | 0.79× | 6.6% | 2.71× | 17.8% | S100W33R |
| 2025 | 9.5% | 0.79× | 7.5% | 2.22× | 16.7% | S100YHZL |
| 2026 | 8.3% | 0.58× | 4.9% | 2.06× | 10.0% | S100YHZL |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| INTERACTIVE BROKERS LLC(常任代理人 インタラクティブ・ ブローカーズ証券(株)) | Major shareholder | 7.3% | 2026-03-31 |
| 明治安田生命保険(相) | Major shareholder | 5.4% | 2026-03-31 |
| みずほ信託銀行(株) | Major shareholder | 4.8% | 2026-03-31 |
| (株)みずほ銀行 | Major shareholder | 4.5% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 3.5% | 2026-03-31 |
| (株)三菱ＵＦＪ銀行 | Major shareholder | 3.2% | 2026-03-31 |
| ＳＵＮ ＹＯＵ ＮＩＮＧ(常任代理人 (株)三菱ＵＦＪ銀行) | Major shareholder | 3.1% | 2026-03-31 |
| 東自協会持株会 | Major shareholder | 2.9% | 2026-03-31 |
| 佐藤 康公 | Major shareholder | 2.8% | 2026-03-31 |
| (株)商工組合中央金庫 | Major shareholder | 2.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第77期(2025/04/01－2026/03/31) | S100YHZL | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHZL,, |
| 有価証券報告書－第76期(2024/04/01－2025/03/31) | S100W33R | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W33R,, |
| 有価証券報告書－第75期(2023/04/01－2024/03/31) | S100TQWI | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQWI,, |
| 有価証券報告書－第74期(2022/04/01－2023/03/31) | S100R4PR | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4PR,, |
| 有価証券報告書－第73期(令和3年4月1日－令和4年3月31日) | S100OG85 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OG85,, |
| 有価証券報告書－第72期(令和2年4月1日－令和3年3月31日) | S100LRCK | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LRCK,, |

## 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).