# TOYO ENGINEERING CORPORATION: 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71期(2025/04/01－2026/03/31) (S100YI4K)
> Page: https://vizora.meequs.com/en/company/toyo-engineering
> Retrieved: 2026-09-30T19:04:59.910Z

## Company

Toyo Engineering, founded in 1961, is a company in Plant Engineering & Building Services listed on TSE Prime. It has 4,559 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOYO ENGINEERING CORPORATION |
| Ticker | 6330 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6330.T) |
| Listing | TSE Prime |
| Head office | 千葉県千葉市美浜区中瀬1丁目1番地 |
| Representative (per filing) | 取締役社長 細井栄治 |
| Founded | May 1961 |
| Share capital | ¥18.2B |
| Employees (consolidated) | 4,559 |
| Average salary (parent only) | ¥9.2M |
| Fiscal year end | March |
| Website | www.toyo-eng.com (https://www.toyo-eng.com/) |
| Corporate number | 9010001024113 |
| EDINET | E01661 |
| Industries (Vizora) | Plant Engineering & Building Services |

> Profile source: annual securities report (S100YI4K, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 6.3 | 72 |
| Profitability | 0.7 | 76 |
| Efficiency | 5.9 | 76 |

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 Engineering brought in ¥182.9B in revenue.
- It lost about ¥10 for every ¥100 of sales at the operating level.
- Revenue changed -34.2% from the prior year, operating profit -833.4%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥182.9B |  |
| Operating income | -¥19B | Margin -10.4% |
| Net income | -¥14.9B | Margin -8.2% |
| Free cash flow | ¥7.79B |  |
| Employees (consolidated) | 4,559 |  |
| EPS | ¥-233.87 |  |
| Book value per share | ¥128.22 |  |
| Equity ratio | 16.7% |  |
| Shares outstanding | 52,588,000 |  |
| Treasury shares | 231,100 |  |
| Shareholders | 68,548 |  |
| Average salary (parent only) | ¥9.2M | Filing company only |
| Cash ratio | 33.3% | Cash ÷ revenue 47.5% |
| Vs. industry median margin | -19.5 pp | Plant Engineering & Building Services |
| ROA | -5.5% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 33% of total assets
- FY2026, operating loss is 10 per ¥100 of revenue

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥184000000000 | ¥182941000000 | -0.6% |
| Operating income | ¥1615000000 | ¥-19003000000 | -1276.7% |
| Operating margin | 0.9% | -10.4% | -11.3 pp |
| Employees | 3,943 people | 4,559 people | +15.6% |
| Cash and equivalents | ¥94483000000 | ¥86986000000 | -7.9% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 182,941 | 100.0% | S100YI4K |
| Cost of revenue | 176,493 | 96.5% | S100YI4K |
| Gross profit | 6,447 | 3.5% | S100YI4K |
| SG&A | 25,451 | 13.9% | S100YI4K |
| Operating income | -19,003 | -10.4% | S100YI4K |
| Ordinary income | -11,398 | -6.2% | S100YI4K |
| Pretax income | -11,398 | -6.2% | S100YI4K |
| Income tax | 3,527 | 1.9% | S100YI4K |
| Net income | -14,925 | -8.2% | S100YI4K |
| Net income attributable to owners | -14,944 | -8.2% | S100YI4K |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 96 |
| SG&A | 14 |
| Operating income | -10 |
| (Ref.) Net income | -8 |

### Margin funnel

Gross margin 3.5% → Operating margin -10.4% → Net margin -8.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
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 | 278,091 | 182,941 | -95,150 | -34.2% |
| Gross profit | 26,088 | 6,447 | -19,641 | -75.3% |
| Operating income | 2,591 | -19,003 | -21,594 | -833.4% |
| Net income attributable to owners | 2,020 | -14,944 | -16,964 | -839.8% |
| Operating cash flow | -23,094 | 9,305 | 32,399 | — |
| Free cash flow | -28,671 | 7,791 | 36,462 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 219,094 | 1,890 | 0.9% | 1,664 | -18,696 | -19,820 | S100LSIP |
| FY ending Mar 2021 | 184,000 | 1,615 | 0.9% | 814 | 17,753 | 16,475 | S100OTBE |
| FY ending Mar 2022 | 202,986 | 2,963 | 1.5% | 1,620 | -6,790 | -9,593 | S100R53H |
| FY ending Mar 2023 | 192,908 | 4,764 | 2.5% | 1,647 | 15,591 | 12,440 | S100TWPM |
| FY ending Mar 2024 | 260,825 | 6,712 | 2.6% | 9,821 | 6,001 | 2,562 | S100W4SP |
| FY ending Mar 2025 | 278,091 | 2,591 | 0.9% | 2,020 | -23,094 | -28,671 | S100YI4K |
| FY ending Mar 2026 | 182,941 | -19,003 | -10.4% | -14,944 | 9,305 | 7,791 | S100YI4K |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥40.1M |
| Operating income per employee (consolidated) | -¥4.2M |
| Net income per employee (consolidated) | -¥3.3M |

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) | 4,037 | 4,005 | 4,094 | 5,174 | 4,559 |
| Average salary (parent company) | ¥8.2M | ¥8.6M | ¥8.8M | ¥9.6M | ¥9.2M |
| Average age (parent company) | 43.4 years | 43.4 years | 43.1 years | 42.5 years | 42.4 years |
| Average tenure (parent company) | 16.9 years | 16.6 years | 15.9 years | 15.4 years | 15.3 years |

Year over year: Employees (consolidated) -11.9% · Revenue (consolidated) -34.2%

## 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 | 9,305 | 5.1% | S100YI4K |
| Capital expenditure | 1,514 | 0.8% | S100YI4K |
| Free cash flow | 7,791 | 4.3% | 算出 |
| Investing cash flow | 159 | 0.1% | S100YI4K |
| Financing cash flow | 6,260 | 3.4% | S100YI4K |
| Dividends paid | 1,464 | 0.8% | S100YI4K |
| Change in cash | 14,476 | 7.9% | S100YI4K |
| Cash and equivalents | 86,986 | 47.5% | S100YI4K |

## 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 | 89,800 | 95,865 | 109,072 | 72,509 | 86,986 | S100TWPM, S100W4SP, S100YI4K |
| Total assets | 240,853 | 256,311 | 285,996 | 286,598 | 261,144 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Net assets | 44,562 | 49,105 | 64,153 | 60,243 | 43,715 | S100TWPM, S100W4SP, S100YI4K |
| Share capital | 18,198 | 18,198 | 18,198 | 18,198 | 18,198 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Property, plant and equipment | 11,861 | 12,820 | 6,919 | 10,418 | 10,012 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Intangible assets excluding goodwill | 3,488 | 4,726 | 5,614 | 5,624 | 5,167 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Investment securities | 2,695 | 3,811 | 6,523 | 6,889 | 7,541 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Current assets | 206,805 | 222,755 | 250,330 | 244,209 | 213,702 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Current liabilities | 159,268 | 174,758 | 193,553 | 182,638 | 182,122 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Short-term borrowings | 7,499 | 12,168 | 17,106 | 17,002 | 36,263 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Long-term borrowings | 28,088 | 22,808 | 17,940 | 34,044 | 23,940 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Total liabilities | 196,290 | 207,206 | 221,842 | 226,355 | 217,429 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Non-controlling interests | 169 | 180 | 215 | 231 | 207 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Equity attributable to owners of parent | 38,617 | 40,264 | 50,084 | 51,401 | 34,817 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Retained earnings | 16,297 | 17,944 | 27,765 | 29,083 | 12,503 | S100R53H, S100TWPM, S100W4SP, S100YI4K |
| Treasury stock | -446 | -447 | -448 | -448 | -452 | S100R53H, S100TWPM, S100W4SP, S100YI4K |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 33% | S100YI4K |
| Property, plant and equipment | 4% | S100YI4K |
| Intangibles and goodwill | 2% | S100YI4K |
| Investment securities | 3% | S100YI4K |
| Other assets | 58% | S100YI4K |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 83% | S100YI4K |
| Equity | 17% | S100YI4K |

### 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 | 240,853 | 256,311 | 285,996 | 286,598 | 261,144 |
| Equity | 44,562 | 49,105 | 64,153 | 60,243 | 43,715 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 89,800 | 95,865 | 109,072 | 72,509 | 86,986 |

## 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) | 5.5% | S100YI4K |
| Fixed assets ÷ total assets | 3.8% | S100YI4K |
| Goodwill ÷ parent equity | — | —, S100YI4K |

### 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) | 33.3% |
| Cash ÷ revenue | 47.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 24,249 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | 18.8% |
| CapEx intensity (capex ÷ revenue) | 0.8% |
| Investing CF relative to operating CF | 1.7% |

## 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 | 0.8% | 0.84× | 0.7% | 6.24× | 4.2% | S100R53H |
| 2023 | 0.9% | 0.78× | 0.7% | 6.30× | 4.2% | S100TWPM |
| 2024 | 3.8% | 0.96× | 3.6% | 6.00× | 21.7% | S100W4SP |
| 2025 | 0.7% | 0.97× | 0.7% | 5.64× | 4.0% | S100YI4K |
| 2026 | — | —× | -5.5% | —× | — | S100YI4K |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 三井物産株式会社 | Major shareholder | 14.9% | 2026-03-31 |
| インテグラルTeam投資事業有限責任組合 | Major shareholder | 9.2% | 2026-03-31 |
| 株式会社日本カストディ銀行(三井住友信託銀行再信託分・三井化学株式会社退職給付信託口) | Major shareholder | 8.8% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 3.8% | 2026-03-31 |
| 株式会社SBI証券 | Major shareholder | 2.5% | 2026-03-31 |
| 大成建設株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| Innovation Alpha Team L.P. | Major shareholder | 1.4% | 2026-03-31 |
| BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE(常任代理人 株式会社三菱UFJ銀行) | Major shareholder | 1.0% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 0.9% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第71期(2025/04/01－2026/03/31) | S100YI4K | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI4K,, |
| 有価証券報告書－第70期(2024/04/01－2025/03/31) | S100W4SP | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4SP,, |
| 有価証券報告書－第69期(2023/04/01－2024/03/31) | S100TWPM | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWPM,, |
| 有価証券報告書－第68期(2022/04/01－2023/03/31) | S100R53H | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R53H,, |
| 訂正有価証券報告書－第67期(令和3年4月1日－令和4年3月31日) | S100OTBE | 2022-07-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OTBE,, |
| 有価証券報告書－第66期(令和2年4月1日－令和3年3月31日) | S100LSIP | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSIP,, |

## 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).