# TOYODA GOSEI CO.,LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第103期(2025/04/01－2026/03/31) (S100YC23)
> Page: https://vizora.meequs.com/en/company/toyoda-gosei
> Retrieved: 2026-09-30T19:14:46.688Z

## Company

Toyoda Gosei, founded in 1949, is a company in Auto Parts listed on TSE Prime. It has 41,304 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOYODA GOSEI CO., LTD. |
| Ticker | 7282 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7282.T) |
| Listing | TSE Prime |
| Head office | 愛知県清須市春日長畑1番地 |
| Representative (per filing) | 取締役社長 齋藤 克巳 |
| Founded | Jun 1949 |
| Share capital | ¥28.1B |
| Employees (consolidated) | 41,304 |
| Average salary (parent only) | ¥7.5M |
| Fiscal year end | March |
| Website | www.toyoda-gosei.co.jp (https://www.toyoda-gosei.co.jp/) |
| Corporate number | 7180001045235 |
| EDINET | E01108 |
| Industries (Vizora) | Auto Parts |

> Profile source: annual securities report (S100YC23, filed 2026-06-17). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 80.5 | 110 |
| Profitability | 76.1 | 111 |
| Cash conversion | 46.8 | 108 |
| Efficiency | 84.2 | 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 39% of Toyoda Gosei's sales come from Japan, with Americas and Asia making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +8.2% from the prior year, operating profit +32.9%.

## Company structure

- Segment revenue mix: Japan 39.1%、Americas 37.1%、Asia 9.0%、China 7.5%、India 4.5%
- Revenue → net income: ¥1146772000000 → ¥68159000000
- Net income → operating cash flow: ¥68159000000 → ¥131691000000（difference ¥63532000000）
- Main uses of operating cash flow: CapEx ¥57447000000 / dividends ¥13354000000 / buybacks ¥45359000000
- Change in cash: ¥13044000000
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 | ¥1.15T |  |
| Operating income | ¥79.6B | Margin 6.9% |
| Net income | ¥62B | Margin 5.4% |
| Free cash flow | ¥74.2B |  |
| Largest business | Japan | of segment revenue 39.1% |
| Employees (consolidated) | 41,304 |  |
| EPS | ¥494.11 |  |
| Diluted EPS | ¥493.62 |  |
| Book value per share | ¥2848.76 |  |
| Equity ratio | 57.3% | Derived from disclosed figures |
| Shares outstanding | 117,614,000 |  |
| Treasury shares | 452,500 |  |
| Shareholders | 14,839 |  |
| Average salary (parent only) | ¥7.5M | Filing company only |
| Cash ratio | 13.3% | Cash ÷ revenue 11.5% |
| Vs. industry median margin | +2.2 pp | Auto Parts |
| ROE | 11.2% | Derived from disclosed figures |
| ROA | 6.5% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 3.4× dividends
- FY2026, operating cash flow is 2.1× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥721498000000 | ¥1146772000000 | +58.9% |
| Operating income | ¥36479000000 | ¥79551000000 | +118.1% |
| Operating margin | 5.1% | 6.9% | +1.9 pp |
| Employees | 38,823 people | 41,304 people | +6.4% |
| Cash and equivalents | ¥134003000000 | ¥131814000000 | -1.6% |

### 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 |
| --- | ---: |
| 日本 → 事業再編・廃止 | 46.1% |
| 米州 → 事業再編・廃止 | 27.7% |
| アジア → 事業再編・廃止 | 22.7% |
| 欧州・アフリカ → 事業再編・廃止 | 3.5% |
| 新設・再編 → 日本 | 39.1% |
| 新設・再編 → 米州 | 37.1% |
| 新設・再編 → 欧州・アフリカ | 2.9% |
| 新設・再編 → 中国 | 7.5% |
| 新設・再編 → アジア | 9.0% |
| 新設・再編 → インド | 4.5% |

Segment revenue source references: 10 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 2 years | +5.4% | ¥447868000000 | 5.3% | 2 |
| Americas | 2 years | +3.8% | ¥425037000000 | 8.2% | 2 |
| Asia | 2 years | +3.6% | ¥102908000000 | 14.5% | 2 |
| China | 2 years | -11.3% | ¥86198000000 | -2.4% | 2 |
| India | 2 years | +21.4% | ¥51492000000 | 11.2% | 2 |
| Europe and Africa | 2 years | +0.2% | ¥33266000000 | 8.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,146,772 | 100.0% | S100YC23 |
| Cost of revenue | 960,598 | 83.8% | S100YC23 |
| Gross profit | 186,174 | 16.2% | S100YC23 |
| SG&A | 103,275 | 9.0% | S100YC23 |
| Operating income | 79,551 | 6.9% | S100YC23 |
| Pretax income | 90,221 | 7.9% | S100YC23 |
| Income tax | 22,061 | 1.9% | S100YC23 |
| Net income | 68,159 | 5.9% | S100YC23 |
| Net income attributable to owners | 62,009 | 5.4% | S100YC23 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 9 |
| Operating income | 7 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 16.2% → Operating margin 6.9% → Net margin 5.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.2%; Core profit growth: +32.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.01×
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 | 1,059,798 | 1,146,772 | 86,974 | +8.2% |
| Gross profit | 160,340 | 186,174 | 25,834 | +16.1% |
| Operating income | 59,844 | 79,551 | 19,707 | +32.9% |
| Net income attributable to owners | 36,331 | 62,009 | 25,678 | +70.7% |
| Operating cash flow | 92,011 | 131,691 | 39,680 | +43.1% |
| Free cash flow | 33,631 | 74,244 | 40,613 | +120.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2018 | 807,958 | — | — | 21,361 | 44,004 | — | S100OA30 |
| FY ending Mar 2019 | 840,714 | — | — | 23,309 | 57,463 | — | S100QX4W |
| FY ending Mar 2020 | 812,937 | 17,888 | 2.2% | 11,226 | 65,247 | 18,862 | S100LK4E |
| FY ending Mar 2021 | 721,498 | 36,479 | 5.1% | 35,205 | 67,247 | 17,652 | S100OA30 |
| FY ending Mar 2022 | 830,243 | 34,172 | 4.1% | 23,352 | 27,658 | -24,070 | S100QX4W |
| FY ending Mar 2023 | 951,877 | 35,069 | 3.7% | 16,004 | 53,973 | 7,844 | S100TMN5 |
| FY ending Mar 2024 | 1,071,107 | 67,703 | 6.3% | 51,454 | 128,368 | 81,659 | S100VXIY |
| FY ending Mar 2025 | 1,059,798 | 59,844 | 5.6% | 36,331 | 92,011 | 33,631 | S100YC23 |
| FY ending Mar 2026 | 1,146,772 | 79,551 | 6.9% | 62,009 | 131,691 | 74,244 | S100YC23 |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27.8M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.5M |

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) | 39,511 | 38,942 | 38,951 | 39,192 | 41,304 |
| Average salary (parent company) | ¥6.4M | ¥6.6M | ¥6.9M | ¥7.3M | ¥7.5M |
| Average age (parent company) | 42.0 years | 42.8 years | 43.3 years | 43.7 years | 44.1 years |
| Average tenure (parent company) | 18.1 years | 19.2 years | 19.5 years | 19.9 years | 20.2 years |

Year over year: Employees (consolidated) +5.4% · Revenue (consolidated) +8.2%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 447,868 | 39.1% | 23,529 | 5.3% |
| Americas | 425,037 | 37.1% | 34,992 | 8.2% |
| Europe and Africa | 33,266 | 2.9% | 2,662 | 8.0% |
| China | 86,198 | 7.5% | -2,087 | -2.4% |
| Asia | 102,908 | 9.0% | 14,923 | 14.5% |
| India | 51,492 | 4.5% | 5,767 | 11.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 39.1% | 28.7% | -10.3 | 5.3% |
| Americas | 37.1% | 42.7% | 5.7 | 8.2% |
| Europe and Africa | 2.9% | 3.3% | 0.4 | 8.0% |
| China | 7.5% | — | — | -2.4% |
| Asia | 9.0% | 18.2% | 9.3 | 14.5% |
| India | 4.5% | 7.0% | 2.6 | 11.2% |

Loss-making segment (excluded from profit shares): China -2,087 JPY mn

Segment → industry: India → Auto Parts / Asia → Auto Parts / China → Auto Parts / Europe and Africa → Auto Parts / Americas → Auto Parts / Japan → Auto Parts

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 131,691 | 11.5% | S100YC23 |
| Capital expenditure | 57,447 | 5.0% | S100YC23 |
| Free cash flow | 74,244 | 6.5% | 算出 |
| Investing cash flow | -49,646 | -4.3% | S100YC23 |
| Financing cash flow | -70,894 | -6.2% | S100YC23 |
| Dividends paid | 13,354 | 1.2% | S100YC23 |
| Share buyback | 45,359 | 4.0% | S100YC23 |
| Change in cash | 13,044 | 1.1% | S100YC23 |
| Cash and equivalents | 131,814 | 11.5% | S100YC23 |

## 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 | 109,145 | 105,268 | 146,000 | 118,769 | 131,814 | S100TMN5, S100VXIY, S100YC23 |
| Total assets | 859,302 | 865,300 | 933,347 | 913,039 | 992,907 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Net assets | 462,794 | 486,367 | 566,734 | 588,404 | 615,161 | S100TMN5, S100VXIY, S100YC23 |
| Share capital | 28,069 | 28,093 | 28,114 | 28,119 | 28,119 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Property, plant and equipment | 316,901 | 327,838 | 341,789 | 338,243 | 379,884 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Current assets | 425,165 | 419,108 | 455,187 | 438,148 | 486,926 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Total liabilities | 396,508 | 378,932 | 366,612 | 324,635 | 377,746 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Equity attributable to owners of parent | 428,804 | 448,413 | 522,337 | 542,625 | 568,563 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Retained earnings | 335,069 | 344,275 | 388,635 | 412,829 | 417,086 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |
| Treasury stock | -1,233 | -1,235 | -1,736 | -1,625 | -2,042 | S100QX4W, S100TMN5, S100VXIY, S100YC23 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100YC23 |
| Property, plant and equipment | 38% | S100YC23 |
| Other assets | 49% | S100YC23 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 38% | S100YC23 |
| Equity | 62% | S100YC23 |

### 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 | 859,302 | 865,300 | 933,347 | 913,039 | 992,907 |
| Equity | 462,794 | 486,367 | 566,734 | 588,404 | 615,161 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 109,145 | 105,268 | 146,000 | 118,769 | 131,814 |

## 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) | 33.1% | S100YC23 |
| Fixed assets ÷ total assets | 38.3% | S100YC23 |
| Goodwill ÷ parent equity | — | —, S100YC23 |

### 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) | 13.3% |
| Cash ÷ revenue | 11.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 165.5% |
| Cash vs. profit gap | 69,682 JPY mn (of net income 112.4%) |
| Shareholder returns / net income | 94.7% |
| Shareholder returns / FCF | 79.1% |
| Shareholder payments — dividends / net income | 21.5% |
| Shareholder payments — dividends / FCF | 18.0% |
| CapEx intensity (capex ÷ revenue) | 5.0% |
| Investing CF relative to operating CF | 37.7% |

## 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 | 2.8% | 0.97× | 2.7% | 2.00× | 5.4% | S100QX4W |
| 2023 | 1.7% | 1.10× | 1.9% | 1.97× | 3.6% | S100TMN5 |
| 2024 | 4.8% | 1.19× | 5.7% | 1.85× | 10.6% | S100VXIY |
| 2025 | 3.4% | 1.15× | 3.9% | 1.73× | 6.8% | S100YC23 |
| 2026 | 5.4% | 1.20× | 6.5% | 1.72× | 11.2% | S100YC23 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| トヨタ自動車株式会社 | Major shareholder | 21.7% | 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 | 9.8% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 7.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社 みずほ銀行） | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社 みずほ銀行） | Major shareholder | 2.3% | 2026-03-31 |
| モルガン・スタンレーMUFG 証券株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 豊田合成従業員持株会 | Major shareholder | 1.9% | 2026-03-31 |
| ゴールドマン・サックス証券株式会社 BNYM (常任代理人 株式会社三菱ＵＦＪ銀行) | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口４） | Major shareholder | 1.7% | 2026-03-31 |
| 日本生命保険相互会社 （常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 1.4% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for the FY ending Mar 2026 reached ¥1.15T, up +8.2% from ¥1.06T.
- Profits grew faster: operating income rose +32.9% to ¥79.6B, and net income jumped +70.7% to ¥62B.
- Operating cash flow increased +43.1% to ¥131.7B, and free cash flow came to ¥74.2B.

### Drivers

- Automakers built more cars, lifting sales in Japan, the Americas, Asia, and India
- Higher volumes and cost reductions both helped profits
- In China, sales fell, but cuts to fixed costs narrowed the loss

### Risks

- Most sales go to the Toyota group, so its production volumes and purchasing decisions weigh heavily on results
- U.S. tariffs are squeezing profit in the Americas, and currency moves also affect earnings
- Price-cut requests from automakers and new competitors could make pricing tougher

Cited: Annual Securities Report (103rd term) (Management's analysis of financial position, operating results and cash flows); Annual Securities Report (103rd term) (Business risks)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第103期(2025/04/01－2026/03/31) | S100YC23 | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YC23,, |
| 有価証券報告書－第102期(2024/04/01－2025/03/31) | S100VXIY | 2025-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VXIY,, |
| 有価証券報告書－第101期(2023/04/01－2024/03/31) | S100TMN5 | 2024-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TMN5,, |
| 有価証券報告書－第100期(2022/04/01－2023/03/31) | S100QX4W | 2023-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QX4W,, |
| 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) | S100OA30 | 2022-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OA30,, |
| 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) | S100LK4E | 2021-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LK4E,, |

## 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).