# TOYO DRILUBE CO.,LTD: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第64期(2025/07/01－2026/06/30) (S100Z3JC)
> Page: https://vizora.meequs.com/en/company/toyo-drilube
> Retrieved: 2026-09-30T19:53:30.158Z

## Company

Toyo Drilube, founded in 1962, is a company in Chemicals listed on TSE Standard. It has 532 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOYO DRILUBE CO.,LTD. |
| Ticker | 4976 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4976.T) |
| Listing | TSE Standard |
| Head office | 東京都世田谷区代沢一丁目26番4号 |
| Representative (per filing) | 代表取締役社長 飯野 光彦 |
| Founded | Jul 1962 |
| Share capital | ¥376M |
| Employees (consolidated) | 532 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | June |
| Website | www.drilube.co.jp (https://www.drilube.co.jp/) |
| Corporate number | 5010901008144 |
| EDINET | E01068 |
| Industries (Vizora) | Chemicals |

> Profile source: annual securities report (S100Z3JC, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Chemicals (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 3.6 | 96 |
| Profitability | 87.5 | 100 |
| Cash conversion | 75.5 | 96 |
| Efficiency | 2.5 | 100 |

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)

- Toyo Drilube brought in ¥5.41B in revenue.
- Out of every ¥100 of sales, about ¥13 is left as operating profit.
- Revenue changed +4.2% from the prior year, operating profit -13.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥5412705000 → ¥608736000
- Net income → operating cash flow: ¥608736000 → ¥1463229000（difference ¥854493000）
- Main uses of operating cash flow: CapEx ¥1331245000 / dividends ¥145646000 / buybacks —
- Change in cash: ¥-603658000
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 | ¥5.41B |  |
| Operating income | ¥675.9M | Margin 12.5% |
| Net income | ¥603.8M | Margin 11.2% |
| Free cash flow | ¥132M |  |
| Employees (consolidated) | 532 |  |
| EPS | ¥123.85 |  |
| Book value per share | ¥2117.07 |  |
| Equity ratio | 81.9% |  |
| Shares outstanding | 4,065,000 |  |
| Treasury shares | 92,900 |  |
| Shareholders | 524 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 18.0% | Cash ÷ revenue 44.9% |
| Vs. industry median margin | +5 pp | Chemicals |
| ROE | 6.1% | Derived from disclosed figures |
| ROA | 4.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.4× net income

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6377653000 | ¥5412705000 | -15.1% |
| Operating income | ¥452385000 | ¥675867000 | +49.4% |
| Operating margin | 7.1% | 12.5% | +5.4 pp |
| Employees | 501 people | 532 people | +6.2% |
| Cash and equivalents | ¥4542442000 | ¥2428912000 | -46.5% |

### Change in segment revenue mix

Span: FY ending Jun 2021 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,413 | 100.0% | S100Z3JC |
| Cost of revenue | 3,521 | 65.0% | S100Z3JC |
| Gross profit | 1,892 | 35.0% | S100Z3JC |
| SG&A | 1,216 | 22.5% | S100Z3JC |
| Operating income | 676 | 12.5% | S100Z3JC |
| Ordinary income | 917 | 16.9% | S100Z3JC |
| Pretax income | 860 | 15.9% | S100Z3JC |
| Income tax | 251 | 4.6% | S100Z3JC |
| Net income | 609 | 11.2% | S100Z3JC |
| Net income attributable to owners | 604 | 11.2% | S100Z3JC |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 65 |
| SG&A | 22 |
| Operating income | 13 |
| (Ref.) Net income | 11 |

### Margin funnel

Gross margin 35.0% → Operating margin 12.5% → Net margin 11.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +4.2%; Core profit growth: -13.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -3.18×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2025 → FY ending Jun 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,194 | 5,413 | 219 | +4.2% |
| Gross profit | 1,945 | 1,892 | -54 | -2.8% |
| Operating income | 780 | 676 | -104 | -13.4% |
| Net income attributable to owners | 703 | 604 | -99 | -14.1% |
| Operating cash flow | 942 | 1,463 | 521 | +55.3% |
| Free cash flow | -11 | 132 | 143 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 5,644 | 205 | 3.6% | 262 | 590 | 486 | S100MHE4 |
| FY ending Jun 2021 | 6,378 | 452 | 7.1% | 453 | 691 | 453 | S100P91M |
| FY ending Jun 2022 | 3,666 | 448 | 12.2% | 576 | 726 | 191 | S100S97K |
| FY ending Jun 2023 | 3,870 | 258 | 6.7% | 333 | 400 | -581 | S100UFN3 |
| FY ending Jun 2024 | 4,699 | 655 | 13.9% | 617 | 1,399 | 518 | S100WR11 |
| FY ending Jun 2025 | 5,194 | 780 | 15.0% | 703 | 942 | -11 | S100Z3JC |
| FY ending Jun 2026 | 5,413 | 676 | 12.5% | 604 | 1,463 | 132 | S100Z3JC |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥10.2M |
| Operating income per employee (consolidated) | ¥1.3M |
| Net income per employee (consolidated) | ¥1.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 485 | 504 | 509 | 514 | 532 |
| Average salary (parent company) | ¥5.4M | ¥5.7M | ¥5.8M | ¥5.9M | ¥6.2M |
| Average age (parent company) | 39.8 years | 41.0 years | 41.1 years | 42.1 years | 42.1 years |
| Average tenure (parent company) | 12.8 years | 13.1 years | 14.0 years | 15.0 years | 15.1 years |

Year over year: Employees (consolidated) +3.5% · Revenue (consolidated) +4.2%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,463 | 27.0% | S100Z3JC |
| Capital expenditure | 1,331 | 24.6% | S100Z3JC |
| Free cash flow | 132 | 2.4% | 算出 |
| Investing cash flow | -1,965 | -36.3% | S100Z3JC |
| Financing cash flow | -192 | -3.5% | S100Z3JC |
| Dividends paid | 146 | 2.7% | S100Z3JC |
| Change in cash | -604 | -11.2% | S100Z3JC |
| Cash and equivalents | 2,429 | 44.9% | S100Z3JC |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,751 | 3,951 | 4,177 | 3,033 | 2,429 | S100UFN3, S100WR11, S100Z3JC |
| Total assets | 10,635 | 11,192 | 12,012 | 12,819 | 13,470 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Net assets | 8,503 | 8,897 | 9,605 | 10,372 | 11,042 | S100UFN3, S100WR11, S100Z3JC |
| Share capital | 376 | 376 | 376 | 376 | 376 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Trade receivables | 1,096 | 1,292 | 1,318 | 1,458 | 1,104 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Property, plant and equipment | 2,775 | 3,393 | 3,742 | 4,003 | 5,005 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Intangible assets excluding goodwill | 108 | 87 | 50 | 302 | 313 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Goodwill | 37 | 24 | — | — | — | S100S97K, S100UFN3 |
| Investment securities | 54 | 265 | 564 | 769 | 1,070 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Current assets | 6,559 | 6,172 | 6,376 | 6,279 | 5,581 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Current liabilities | 1,249 | 1,543 | 1,676 | 1,403 | 1,418 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Trade payables | 156 | 185 | 217 | 238 | 263 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Short-term borrowings | 100 | 128 | 128 | 128 | 130 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Long-term borrowings | 559 | 388 | 347 | 612 | 568 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Total liabilities | 2,132 | 2,295 | 2,407 | 2,446 | 2,428 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Non-controlling interests | 3 | 3 | 4 | 9 | 14 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Equity attributable to owners of parent | 8,174 | 8,445 | 8,995 | 9,611 | 10,069 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Retained earnings | 7,355 | 7,626 | 8,176 | 8,792 | 9,250 | S100S97K, S100UFN3, S100WR11, S100Z3JC |
| Treasury stock | -12 | -12 | -12 | -12 | -12 | S100S97K, S100UFN3, S100WR11, S100Z3JC |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 18% | S100Z3JC |
| Receivables | 8% | S100Z3JC |
| Property, plant and equipment | 37% | S100Z3JC |
| Intangibles and goodwill | 2% | S100Z3JC |
| Investment securities | 8% | S100Z3JC |
| Other assets | 27% | S100Z3JC |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 2% | S100Z3JC |
| Other liabilities | 16% | S100Z3JC |
| Equity | 82% | S100Z3JC |
| Other liabilities | 0% | S100Z3JC |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 10,635 | 11,192 | 12,012 | 12,819 | 13,470 |
| Equity | 8,503 | 8,897 | 9,605 | 10,372 | 11,042 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,751 | 3,951 | 4,177 | 3,033 | 2,429 |

## 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) | 92.5% | S100Z3JC |
| Fixed assets ÷ total assets | 37.2% | S100Z3JC |
| Goodwill ÷ parent equity | — | —, S100Z3JC |

### 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) | 18.0% |
| Cash ÷ revenue | 44.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 216.5% |
| Cash vs. profit gap | 859 JPY mn (of net income 142.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 24.1% |
| Shareholder payments — dividends / FCF | 110.4% |
| CapEx intensity (capex ÷ revenue) | 24.6% |
| Investing CF relative to operating CF | 134.3% |

## 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 | 15.7% | 0.34× | 5.4% | 1.30× | 7.0% | S100S97K |
| 2023 | 8.6% | 0.35× | 3.0% | 1.31× | 4.0% | S100UFN3 |
| 2024 | 13.1% | 0.41× | 5.3% | 1.33× | 7.1% | S100WR11 |
| 2025 | 13.5% | 0.42× | 5.7% | 1.33× | 7.6% | S100Z3JC |
| 2026 | 11.2% | 0.41× | 4.6% | 1.34× | 6.1% | S100Z3JC |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 飯野 光彦 | Major shareholder | 23.1% | 2026-06-30 |
| 飯野 光俊 | Major shareholder | 8.5% | 2026-06-30 |
| 飯野 玲子 | Major shareholder | 8.0% | 2026-06-30 |
| 株式会社スター・ライツ・クリエイト | Major shareholder | 7.8% | 2026-06-30 |
| 飯野 佐保里 | Major shareholder | 5.3% | 2026-06-30 |
| 株式会社ＴＮＮアドバイザーズ | Major shareholder | 5.2% | 2026-06-30 |
| 株式会社ウベモク | Major shareholder | 3.8% | 2026-06-30 |
| 川村 美也子 | Major shareholder | 2.5% | 2026-06-30 |
| 中野 香 | Major shareholder | 2.4% | 2026-06-30 |
| 宮下 英尚 | Major shareholder | 2.1% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第64期(2025/07/01－2026/06/30) | S100Z3JC | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3JC,, |
| 有価証券報告書－第63期(2024/07/01－2025/06/30) | S100WR11 | 2025-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WR11,, |
| 有価証券報告書－第62期(2023/07/01－2024/06/30) | S100UFN3 | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFN3,, |
| 訂正有価証券報告書－第61期(2022/07/01－2023/06/30) | S100S97K | 2023-11-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S97K,, |
| 有価証券報告書－第60期(令和3年7月1日－令和4年6月30日) | S100P91M | 2022-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P91M,, |
| 有価証券報告書－第59期(令和2年7月1日－令和3年6月30日) | S100MHE4 | 2021-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MHE4,, |

## 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).