# Tokyo Cosmoc Electric 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69期(2025/04/01－2026/03/31) (S100YJ3Z)
> Page: https://vizora.meequs.com/en/company/tokyo-cosmoc-electric
> Retrieved: 2026-09-30T23:08:40.934Z

## Company

Tokyo Cosmoc Electric, founded in 1957, is a company in Auto Parts listed on TSE Standard. It has 601 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Tokyo Cosmos Electric Co., Ltd. |
| Ticker | 6772 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6772.T) |
| Listing | TSE Standard |
| Head office | 神奈川県座間市相武台二丁目12番1号 |
| Representative (per filing) | 代表取締役社長 若林 勇人 |
| Founded | Jun 1957 |
| Share capital | ¥1.28B |
| Employees (consolidated) | 601 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.tocos-j.co.jp (https://www.tocos-j.co.jp/) |
| Corporate number | 6021001028329 |
| EDINET | E01811 |
| Industries (Vizora) | Auto Parts, Electronic Components |

> Profile source: annual securities report (S100YJ3Z, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 18.6 | 110 |
| Profitability | 50 | 111 |
| Cash conversion | 23.6 | 108 |
| Efficiency | 28.4 | 111 |

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 62% of Tokyo Cosmoc Electric's sales come from Electric parts for automobile, with Adjustable resistor making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed -8.6% from the prior year, operating profit -56.0%.

## Company structure

- Segment revenue mix: Electric parts for automobile 62.4%、Adjustable resistor 37.6%
- Revenue → net income: ¥9601030000 → ¥28107000
- Net income → operating cash flow: ¥28107000 → ¥544458000（difference ¥516351000）
- Main uses of operating cash flow: CapEx ¥292790000 / dividends ¥233341000 / buybacks ¥2640000
- Change in cash: ¥-369867000
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 | ¥9.6B |  |
| Operating income | ¥457.4M | Margin 4.8% |
| Net income | ¥28.1M | Margin 0.3% |
| Free cash flow | ¥251.7M |  |
| Largest business | Electric parts for automobile | of segment revenue 62.4% |
| Employees (consolidated) | 601 |  |
| EPS | ¥80.84 |  |
| Book value per share | ¥838.53 |  |
| Equity ratio | 67.1% |  |
| Shares outstanding | 6,825,860 |  |
| Treasury shares | 65,200 |  |
| Shareholders | 1,042 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |
| Cash ratio | 25.6% | Cash ÷ revenue 30.7% |
| Vs. industry median margin | 0 pp | Auto Parts |
| ROE | 0.5% | Derived from disclosed figures |
| ROA | 0.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 19.4× net income
- FY2026, one segment accounts for 64% of positive segment profit
- FY2026, segment profit share differs by -26 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥7865125000 | ¥9601030000 | +22.1% |
| Operating income | ¥48623000 | ¥457360000 | +840.6% |
| Operating margin | 0.6% | 4.8% | +4.1 pp |
| Employees | 771 people | 601 people | -22.0% |
| Cash and equivalents | ¥3074204000 | ¥2950665000 | -4.0% |

### 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 |
| --- | ---: |
| 可変抵抗器 → 可変抵抗器 | 37.6% |
| 可変抵抗器 → 事業再編・廃止 | 6.0% |
| 車載用電装部品 → 車載用電装部品 | 53.5% |
| その他 → 事業再編・廃止 | 2.9% |
| 新設・再編 → 車載用電装部品 | 8.9% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 9,601 | 100.0% | S100YJ3Z |
| Cost of revenue | 7,315 | 76.2% | S100YJ3Z |
| Gross profit | 2,286 | 23.8% | S100YJ3Z |
| SG&A | 1,828 | 19.0% | S100YJ3Z |
| Operating income | 457 | 4.8% | S100YJ3Z |
| Ordinary income | 461 | 4.8% | S100YJ3Z |
| Pretax income | 145 | 1.5% | S100YJ3Z |
| Income tax | 116 | 1.2% | S100YJ3Z |
| Net income | 28 | 0.3% | S100YJ3Z |
| Net income attributable to owners | 28 | 0.3% | S100YJ3Z |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 19 |
| Operating income | 5 |
| (Ref.) Net income | 0 |

### Margin funnel

Gross margin 23.8% → Operating margin 4.8% → Net margin 0.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -8.6%; Core profit growth: -56.0%
Operating leverage (core profit growth ÷ revenue growth): 6.50×
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 | 10,506 | 9,601 | -905 | -8.6% |
| Gross profit | 2,923 | 2,286 | -637 | -21.8% |
| Operating income | 1,040 | 457 | -583 | -56.0% |
| Net income attributable to owners | 709 | 28 | -681 | -96.0% |
| Operating cash flow | 1,200 | 544 | -655 | -54.6% |
| Free cash flow | 976 | 252 | -725 | -74.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 8,934 | 188 | 2.1% | 41 | 139 | -728 | S100LK65 |
| FY ending Mar 2021 | 7,865 | 49 | 0.6% | -162 | 559 | 207 | S100OEN9 |
| FY ending Mar 2022 | 9,511 | 795 | 8.4% | 630 | 1,220 | 981 | S100R7SO |
| FY ending Mar 2023 | 10,713 | 1,350 | 12.6% | 1,175 | 1,711 | 1,458 | S100TPPY |
| FY ending Mar 2024 | 10,435 | 1,261 | 12.1% | 962 | 1,630 | 1,463 | S100WFY8 |
| FY ending Mar 2025 | 10,506 | 1,040 | 9.9% | 709 | 1,200 | 976 | S100YJ3Z |
| FY ending Mar 2026 | 9,601 | 457 | 4.8% | 28 | 544 | 252 | S100YJ3Z |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16M |
| Operating income per employee (consolidated) | ¥761K |
| Net income per employee (consolidated) | ¥46.8K |

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) | 703 | 696 | 645 | 629 | 601 |
| Average salary (parent company) | ¥5.6M | ¥6M | ¥6M | ¥6.5M | ¥6.4M |
| Average age (parent company) | 41.5 years | 41.3 years | 41.3 years | 40.7 years | 40.9 years |
| Average tenure (parent company) | 14.5 years | 13.7 years | 14.3 years | 12.7 years | 11.3 years |

Year over year: Employees (consolidated) -4.5% · Revenue (consolidated) -8.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Adjustable resistor | 3,609 | 37.6% | 751 | 20.8% |
| Electric parts for automobile | 5,993 | 62.4% | 423 | 7.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Adjustable resistor | 37.6% | 64.0% | 26.4 | 20.8% |
| Electric parts for automobile | 62.4% | 36.0% | -26.4 | 7.1% |

Segment → industry: Electric parts for automobile → Auto Parts / Adjustable resistor → Electronic Components

## 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 | 544 | 5.7% | S100YJ3Z |
| Capital expenditure | 293 | 3.0% | S100YJ3Z |
| Free cash flow | 252 | 2.6% | 算出 |
| Investing cash flow | -250 | -2.6% | S100YJ3Z |
| Financing cash flow | -786 | -8.2% | S100YJ3Z |
| Dividends paid | 233 | 2.4% | S100YJ3Z |
| Share buyback | 3 | 0.0% | S100YJ3Z |
| Change in cash | -370 | -3.9% | S100YJ3Z |
| Cash and equivalents | 2,951 | 30.7% | S100YJ3Z |

## 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 | 3,196 | 4,013 | 3,553 | 3,321 | 2,951 | S100TPPY, S100WFY8, S100YJ3Z |
| Total assets | 12,732 | 13,401 | 12,416 | 12,015 | 11,520 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Net assets | 4,680 | 5,916 | 7,003 | 7,576 | 7,726 | S100TPPY, S100WFY8, S100YJ3Z |
| Share capital | 1,277 | 1,277 | 1,277 | 1,277 | 1,277 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Property, plant and equipment | 4,200 | 3,845 | 3,579 | 3,399 | 3,637 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Intangible assets excluding goodwill | 183 | 136 | 80 | 24 | 48 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Investment securities | 279 | 310 | 563 | 704 | 893 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Current assets | 7,785 | 8,921 | 8,080 | 7,838 | 6,896 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Current liabilities | 4,244 | 4,391 | 2,897 | 2,560 | 1,985 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Trade payables | 592 | 723 | 707 | 624 | 624 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Short-term borrowings | 1,638 | 1,450 | 300 | — | — | S100R7SO, S100TPPY, S100WFY8 |
| Long-term borrowings | 2,339 | 1,848 | 1,367 | 931 | 617 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Total liabilities | 8,052 | 7,485 | 5,413 | 4,439 | 3,794 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Equity attributable to owners of parent | 3,606 | 4,747 | 5,452 | 5,971 | 5,767 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Retained earnings | 2,560 | 3,693 | 4,570 | 5,083 | 4,514 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |
| Treasury stock | -232 | -224 | -400 | -398 | -24 | S100R7SO, S100TPPY, S100WFY8, S100YJ3Z |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 26% | S100YJ3Z |
| Property, plant and equipment | 31% | S100YJ3Z |
| Intangibles and goodwill | 0% | S100YJ3Z |
| Investment securities | 8% | S100YJ3Z |
| Other assets | 35% | S100YJ3Z |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YJ3Z |
| Other liabilities | 28% | S100YJ3Z |
| Equity | 67% | S100YJ3Z |
| Other liabilities | 0% | S100YJ3Z |

### 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 | 12,732 | 13,401 | 12,416 | 12,015 | 11,520 |
| Equity | 4,680 | 5,916 | 7,003 | 7,576 | 7,726 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,196 | 4,013 | 3,553 | 3,321 | 2,951 |

## 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) | 37.9% | S100YJ3Z |
| Fixed assets ÷ total assets | 31.6% | S100YJ3Z |
| Goodwill ÷ parent equity | — | —, S100YJ3Z |

### 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) | 25.6% |
| Cash ÷ revenue | 30.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 119.0% |
| Cash vs. profit gap | 516 JPY mn (of net income 1837.1%) |
| Shareholder returns / net income | 839.6% |
| Shareholder returns / FCF | 93.8% |
| Shareholder payments — dividends / net income | 830.2% |
| Shareholder payments — dividends / FCF | 92.7% |
| CapEx intensity (capex ÷ revenue) | 3.0% |
| Investing CF relative to operating CF | 45.9% |

## 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 | 6.6% | 0.75× | 4.9% | 3.53× | 17.5% | S100R7SO |
| 2023 | 11.0% | 0.82× | 9.0% | 3.13× | 28.1% | S100TPPY |
| 2024 | 9.2% | 0.81× | 7.5% | 2.53× | 18.9% | S100WFY8 |
| 2025 | 6.7% | 0.86× | 5.8% | 2.14× | 12.4% | S100YJ3Z |
| 2026 | 0.3% | 0.82× | 0.2% | 2.00× | 0.5% | S100YJ3Z |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| BRIDGESTREAM LIMITED, AS TRUSTEE OF AXC STRATEGIC OPPORTUNITIES （常任代理人 立花証券株式会社） | Major shareholder | 21.5% | 2026-03-31 |
| 成成株式会社 | Major shareholder | 15.6% | 2026-03-31 |
| BRIDGESTREAM LIMITED, AS TRUSTEE OF AXC STRATEGIC OPPORTUNITIES （常任代理人 立花証券株式会社） | Major shareholder | 10.9% | 2026-03-31 |
| 日本証券金融株式会社 | Major shareholder | 10.6% | 2026-03-31 |
| コスモス取引先持株会 | Major shareholder | 5.4% | 2026-03-31 |
| 東海東京証券株式会社 | Major shareholder | 4.1% | 2026-03-31 |
| セコム損害保険株式会社 | Major shareholder | 3.5% | 2026-03-31 |
| 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式会社） | Major shareholder | 2.2% | 2026-03-31 |
| ヨシダ トモヒロ | Major shareholder | 1.0% | 2026-03-31 |
| ＴＨＥ ＢＡＮＫ ＯＦ ＮＥＷ ＹＯＲＫ ＭＥＬＬＯＮ １４００４０ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第69期(2025/04/01－2026/03/31) | S100YJ3Z | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJ3Z,, |
| 訂正有価証券報告書－第68期(2024/04/01－2025/03/31) | S100WFY8 | 2025-08-05 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WFY8,, |
| 有価証券報告書－第67期(2023/04/01－2024/03/31) | S100TPPY | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPPY,, |
| 有価証券報告書－第66期(2022/04/01－2023/03/31) | S100R7SO | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7SO,, |
| 有価証券報告書－第65期(令和3年4月1日－令和4年3月31日) | S100OEN9 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEN9,, |
| 有価証券報告書－第64期(令和2年4月1日－令和3年3月31日) | S100LK65 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LK65,, |

## 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).