# TOKYO SEIMITSU 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103期(2025/04/01－2026/03/31) (S100YEOP)
> Page: https://vizora.meequs.com/en/company/tokyo-seimitsu
> Retrieved: 2026-09-30T21:03:39.947Z

## Company

Tokyo Seimitsu, founded in 1949, is a company in Robots & Factory Automation listed on TSE Prime. It has 2,890 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOKYO SEIMITSU CO., LTD. |
| Ticker | 7729 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7729.T) |
| Listing | TSE Prime |
| Head office | 東京都八王子市石川町2968番地2 |
| Representative (per filing) | 代表取締役社長CEO 木村龍一 |
| Founded | Mar 1949 |
| Share capital | ¥11.7B |
| Employees (consolidated) | 2,890 |
| Average salary (parent only) | ¥8.3M |
| Fiscal year end | March |
| Website | accretech.com (https://accretech.com/) |
| Corporate number | 5010101009430 |
| EDINET | E02289 |
| Industries (Vizora) | Robots & Factory Automation, Semiconductor Equipment |

> Profile source: annual securities report (S100YEOP, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Equipment (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 45.8 | 36 |
| Profitability | 72 | 41 |
| Cash conversion | 29.5 | 39 |
| Efficiency | 52.4 | 41 |

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 77% of Tokyo Seimitsu's sales come from Semiconductor manufacturing device, with Measurement equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥20 is left as operating profit.
- Revenue changed +10.8% from the prior year, operating profit +13.6%.

## Company structure

- Segment revenue mix: Semiconductor manufacturing device 76.6%、Measurement equipment 23.4%
- Revenue → net income: ¥166839000000 → ¥24831000000
- Net income → operating cash flow: ¥24831000000 → ¥25012000000（difference ¥181000000）
- Main uses of operating cash flow: CapEx ¥11633000000 / dividends ¥10177000000 / buybacks ¥3000000
- Change in cash: ¥-1463000000
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 | ¥166.8B |  |
| Operating income | ¥33.7B | Margin 20.2% |
| Net income | ¥24.7B | Margin 14.8% |
| Free cash flow | ¥13.4B |  |
| Largest business | Semiconductor manufacturing device | of segment revenue 76.6% |
| Employees (consolidated) | 2,890 |  |
| EPS | ¥594.81 |  |
| Diluted EPS | ¥591.03 |  |
| Book value per share | ¥3850.67 |  |
| Equity ratio | 76.3% |  |
| Shares outstanding | 42,282,881 |  |
| Treasury shares | 1,505,500 |  |
| Shareholders | 13,276 |  |
| Average salary (parent only) | ¥8.3M | Filing company only |
| Cash ratio | 21.2% | Cash ÷ revenue 31.8% |
| Vs. industry median margin | +5.7 pp | Semiconductor Equipment |
| ROE | 14.1% | Derived from disclosed figures |
| ROA | 10.1% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 84% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥97105000000 | ¥166839000000 | +71.8% |
| Operating income | ¥15562000000 | ¥33738000000 | +116.8% |
| Operating margin | 16.0% | 20.2% | +4.2 pp |
| Employees | 2,293 people | 2,890 people | +26.0% |
| Cash and equivalents | ¥43624000000 | ¥53052000000 | +21.6% |

### 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 |
| --- | ---: |
| 半導体製造装置 → 半導体製造装置 | 73.9% |
| 計測機器 → 計測機器 | 23.4% |
| 計測機器 → 事業再編・廃止 | 2.8% |
| 新設・再編 → 半導体製造装置 | 2.8% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 166,839 | 100.0% | S100YEOP |
| Cost of revenue | 97,978 | 58.7% | S100YEOP |
| Gross profit | 68,860 | 41.3% | S100YEOP |
| SG&A | 35,122 | 21.1% | S100YEOP |
| Operating income | 33,738 | 20.2% | S100YEOP |
| Ordinary income | 34,825 | 20.9% | S100YEOP |
| Pretax income | 33,186 | 19.9% | S100YEOP |
| Income tax | 8,354 | 5.0% | S100YEOP |
| Net income | 24,831 | 14.9% | S100YEOP |
| Net income attributable to owners | 24,739 | 14.8% | S100YEOP |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 59 |
| SG&A | 21 |
| Operating income | 20 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 41.3% → Operating margin 20.2% → Net margin 14.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.8%; Core profit growth: +13.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.25×
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 | 150,534 | 166,839 | 16,305 | +10.8% |
| Gross profit | 62,453 | 68,860 | 6,407 | +10.3% |
| Operating income | 29,703 | 33,738 | 4,035 | +13.6% |
| Net income attributable to owners | 25,637 | 24,739 | -898 | -3.5% |
| Operating cash flow | 28,824 | 25,012 | -3,812 | -13.2% |
| Free cash flow | 18,590 | 13,379 | -5,211 | -28.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 87,927 | 12,282 | 14.0% | 7,156 | 5,965 | 1,090 | S100LLKR |
| FY ending Mar 2021 | 97,105 | 15,562 | 16.0% | 12,175 | 22,062 | 16,010 | S100OB0T |
| FY ending Mar 2022 | 130,702 | 28,327 | 21.7% | 21,326 | 23,837 | 14,132 | S100R3VK |
| FY ending Mar 2023 | 146,801 | 34,494 | 23.5% | 23,630 | 1,000 | -7,986 | S100TQC3 |
| FY ending Mar 2024 | 134,680 | 25,307 | 18.8% | 19,378 | 4,892 | -5,960 | S100W0K6 |
| FY ending Mar 2025 | 150,534 | 29,703 | 19.7% | 25,637 | 28,824 | 18,590 | S100YEOP |
| FY ending Mar 2026 | 166,839 | 33,738 | 20.2% | 24,739 | 25,012 | 13,379 | S100YEOP |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥57.7M |
| Operating income per employee (consolidated) | ¥11.7M |
| Net income per employee (consolidated) | ¥8.6M |

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) | 2,354 | 2,468 | 2,658 | 2,767 | 2,890 |
| Average salary (parent company) | ¥7.5M | ¥8M | ¥8M | ¥7.8M | ¥8.3M |
| Average age (parent company) | 39.8 years | 39.6 years | 39.2 years | 38.9 years | 38.5 years |
| Average tenure (parent company) | 11.1 years | 11.1 years | 10.2 years | 10.1 years | 9.5 years |

Year over year: Employees (consolidated) +4.4% · Revenue (consolidated) +10.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Semiconductor manufacturing device | 127,878 | 76.6% | 28,404 | 22.2% |
| Measurement equipment | 38,960 | 23.4% | 5,333 | 13.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Semiconductor manufacturing device | 76.6% | 84.2% | 7.5 | 22.2% |
| Measurement equipment | 23.4% | 15.8% | -7.5 | 13.7% |

Segment → industry: Measurement equipment → Robots & Factory Automation / Semiconductor manufacturing device → Semiconductor Equipment

## 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 | 25,012 | 15.0% | S100YEOP |
| Capital expenditure | 11,633 | 7.0% | S100YEOP |
| Free cash flow | 13,379 | 8.0% | 算出 |
| Investing cash flow | -11,491 | -6.9% | S100YEOP |
| Financing cash flow | -15,674 | -9.4% | S100YEOP |
| Dividends paid | 10,177 | 6.1% | S100YEOP |
| Share buyback | 3 | 0.0% | S100YEOP |
| Change in cash | -1,463 | -0.9% | S100YEOP |
| Cash and equivalents | 53,052 | 31.8% | S100YEOP |

## 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 | 49,006 | 40,036 | 36,736 | 54,516 | 53,052 | S100TQC3, S100W0K6, S100YEOP |
| Total assets | 190,287 | 209,032 | 225,524 | 237,952 | 250,533 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Net assets | 131,081 | 146,028 | 158,427 | 176,229 | 192,916 | S100TQC3, S100W0K6, S100YEOP |
| Share capital | 11,000 | 11,064 | 11,450 | 11,573 | 11,748 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Property, plant and equipment | 43,479 | 48,954 | 55,997 | 53,975 | 59,946 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Intangible assets excluding goodwill | 3,670 | 3,951 | 4,069 | 3,729 | 3,189 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Goodwill | 210 | 279 | 255 | 224 | 183 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Investment securities | 2,947 | 2,914 | 3,645 | 3,246 | 4,307 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Current assets | 133,829 | 143,972 | 153,831 | 169,341 | 174,607 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Current liabilities | 55,641 | 50,947 | 46,002 | 46,933 | 47,879 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Trade payables | 11,213 | 10,164 | 8,517 | 8,301 | 9,085 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Short-term borrowings | 1,300 | 1,300 | 1,300 | 1,300 | 1,300 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Long-term borrowings | 2,000 | 8,000 | 18,000 | 13,000 | 8,000 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Total liabilities | 59,206 | 63,004 | 67,097 | 61,723 | 57,617 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Non-controlling interests | 574 | 668 | 784 | 1,056 | 1,218 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Equity attributable to owners of parent | 126,439 | 140,150 | 150,765 | 167,850 | 182,816 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Retained earnings | 98,914 | 114,005 | 124,705 | 141,546 | 156,094 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |
| Treasury stock | -5,590 | -7,098 | -7,983 | -8,430 | -8,362 | S100R3VK, S100TQC3, S100W0K6, S100YEOP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 21% | S100YEOP |
| Property, plant and equipment | 24% | S100YEOP |
| Intangibles and goodwill | 1% | S100YEOP |
| Investment securities | 2% | S100YEOP |
| Other assets | 52% | S100YEOP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YEOP |
| Other liabilities | 19% | S100YEOP |
| Equity | 77% | S100YEOP |

### 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 | 190,287 | 209,032 | 225,524 | 237,952 | 250,533 |
| Equity | 131,081 | 146,028 | 158,427 | 176,229 | 192,916 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 49,006 | 40,036 | 36,736 | 54,516 | 53,052 |

## 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) | 35.9% | S100YEOP |
| Fixed assets ÷ total assets | 23.9% | S100YEOP |
| Goodwill ÷ parent equity | 0.1% | S100YEOP |

Goodwill over 4 years: 210 → 183 JPY; total investing cash flow: -36,924 JPY. This does not imply causation.

### 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) | 21.2% |
| Cash ÷ revenue | 31.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 74.1% |
| Cash vs. profit gap | 273 JPY mn (of net income 1.1%) |
| Shareholder returns / net income | 41.1% |
| Shareholder returns / FCF | 76.1% |
| Shareholder payments — dividends / net income | 41.1% |
| Shareholder payments — dividends / FCF | 76.1% |
| CapEx intensity (capex ÷ revenue) | 7.0% |
| 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 | 16.3% | 0.69× | 11.2% | 1.50× | 16.9% | S100R3VK |
| 2023 | 16.1% | 0.74× | 11.8% | 1.50× | 17.7% | S100TQC3 |
| 2024 | 14.4% | 0.62× | 8.9% | 1.49× | 13.3% | S100W0K6 |
| 2025 | 17.0% | 0.65× | 11.1% | 1.45× | 16.1% | S100YEOP |
| 2026 | 14.8% | 0.68× | 10.1% | 1.39× | 14.1% | S100YEOP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行㈱ (信託口) | Major shareholder | 16.7% | 2026-03-31 |
| ㈱日本カストディ銀行(信託口) | Major shareholder | 10.8% | 2026-03-31 |
| JP MORGAN CHASE BANK 385642(常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 3.8% | 2026-03-31 |
| THE CHASE MANHATTAN BANK N.A(常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 2.9% | 2026-03-31 |
| 公益財団法人精密測定技術振興財団 | Major shareholder | 2.6% | 2026-03-31 |
| ㈱みずほ銀行 | Major shareholder | 1.7% | 2026-03-31 |
| STATE STREET BANK AND TRUSTCOMPANY 505001(常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 1.6% | 2026-03-31 |
| BNYM AS AGT/CLTS 10 PERCENT (常任代理人 ㈱三菱UFJ銀行決済事業部) | Major shareholder | 1.4% | 2026-03-31 |
| 矢野 信太郎 | Major shareholder | 1.4% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 (常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第103期(2025/04/01－2026/03/31) | S100YEOP | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEOP,, |
| 有価証券報告書－第102期(2024/04/01－2025/03/31) | S100W0K6 | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0K6,, |
| 有価証券報告書－第101期(2023/04/01－2024/03/31) | S100TQC3 | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQC3,, |
| 有価証券報告書－第100期(2022/04/01－2023/03/31) | S100R3VK | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3VK,, |
| 有価証券報告書－第99期(令和3年4月1日－令和4年3月31日) | S100OB0T | 2022-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OB0T,, |
| 有価証券報告書－第98期(令和2年4月1日－令和3年3月31日) | S100LLKR | 2021-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLKR,, |

## 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).