# TPR 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93期(2025/04/01－2026/03/31) (S100YDSL)
> Page: https://vizora.meequs.com/en/company/tpr-co
> Retrieved: 2026-09-30T20:59:52.126Z

## Company

TPR Co ., founded in 1939, is a company in Auto Parts listed on TSE Prime. It has 6,925 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TPR CO., LTD. |
| Ticker | 6463 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6463.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区丸の内一丁目6番2号新丸の内センタービル |
| Representative (per filing) | 代表取締役会長兼CEO 藤城 豪二 |
| Founded | Dec 1939 |
| Share capital | ¥4.76B |
| Employees (consolidated) | 6,925 |
| Average salary (parent only) | ¥7.5M |
| Fiscal year end | March |
| Website | www.tpr.co.jp (https://www.tpr.co.jp/) |
| Corporate number | 3010001034852 |
| EDINET | E01599 |
| Industries (Vizora) | Auto Parts |

> Profile source: annual securities report (S100YDSL, filed 2026-06-18). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 24.1 | 110 |
| Profitability | 57.2 | 111 |
| Cash conversion | 73.6 | 108 |
| Efficiency | 5 | 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 38% of TPR Co .'s sales come from TPR group (except FALTEC group), with FALTEC group and Japan making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed -1.0% from the prior year, operating profit -8.3%.

## Company structure

- Segment revenue mix: TPR group (except FALTEC group) 38.2%、FALTEC group 23.7%、Japan 16.5%、Asia 15.7%、North america 5.1%
- Revenue → net income: ¥190553000000 → ¥12019000000
- Net income → operating cash flow: ¥12019000000 → ¥22721000000（difference ¥10702000000）
- Main uses of operating cash flow: CapEx ¥12123000000 / dividends ¥3306000000 / buybacks ¥2500000000
- Change in cash: ¥-1428000000
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 | ¥190.6B |  |
| Operating income | ¥10.3B | Margin 5.4% |
| Net income | ¥9.39B | Margin 4.9% |
| Free cash flow | ¥10.6B |  |
| Largest business | TPR group (except FALTEC group) | of segment revenue 38.2% |
| Employees (consolidated) | 6,925 |  |
| EPS | ¥172.12 |  |
| Book value per share | ¥1561.86 |  |
| Equity ratio | 57.3% |  |
| Shares outstanding | 66,542,000 |  |
| Treasury shares | 1,529,500 |  |
| Shareholders | 25,552 |  |
| Average salary (parent only) | ¥7.5M | Filing company only |
| Cash ratio | 19.4% | Cash ÷ revenue 31.2% |
| Vs. industry median margin | +0.6 pp | Auto Parts |
| ROE | 7.6% | Derived from disclosed figures |
| ROA | 3.1% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.4× net income
- FY2026, segment profit share differs by 27 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥152002000000 | ¥190553000000 | +25.4% |
| Operating income | ¥9896000000 | ¥10278000000 | +3.9% |
| Operating margin | 6.5% | 5.4% | -1.1 pp |
| Employees | 6,886 people | 6,925 people | +0.6% |
| Cash and equivalents | ¥41917000000 | ¥59369000000 | +41.6% |

### 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 → 日本 | 16.5% |
| 日本 → 事業再編・廃止 | 1.0% |
| アジア → アジア | 12.6% |
| 北米 → 北米 | 4.3% |
| その他地域 → その他地域 | 0.7% |
| ＴＰＲグループ（除くファルテックグループ） → ＴＰＲグループ（除くファルテックグループ） | 35.1% |
| ファルテックグループ → ファルテックグループ | 23.7% |
| ファルテックグループ → 事業再編・廃止 | 6.1% |
| 新設・再編 → アジア | 3.2% |
| 新設・再編 → 北米 | 0.8% |
| 新設・再編 → その他地域 | 0.1% |
| 新設・再編 → ＴＰＲグループ（除くファルテックグループ） | 3.0% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| TPR group (except FALTEC group) | 5 years | +7.4% | ¥117627000000 | 7.2% | 2 |
| FALTEC group | 5 years | +0.9% | ¥72925000000 | 1.9% | 2 |
| Japan | 5 years | +4.4% | ¥50755000000 | 0.8% | 2 |
| Asia | 5 years | +10.5% | ¥48497000000 | 16.5% | 2 |
| North america | 5 years | +9.2% | ¥15777000000 | -2.1% | 2 |
| Other regions | 5 years | +9.6% | ¥2597000000 | 12.8% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 190,553 | 100.0% | S100YDSL |
| Cost of revenue | 148,861 | 78.1% | S100YDSL |
| Gross profit | 41,691 | 21.9% | S100YDSL |
| SG&A | 31,413 | 16.5% | S100YDSL |
| Operating income | 10,278 | 5.4% | S100YDSL |
| Ordinary income | 16,162 | 8.5% | S100YDSL |
| Pretax income | 16,032 | 8.4% | S100YDSL |
| Income tax | 4,012 | 2.1% | S100YDSL |
| Net income | 12,019 | 6.3% | S100YDSL |
| Net income attributable to owners | 9,394 | 4.9% | S100YDSL |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 17 |
| Operating income | 5 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 21.9% → Operating margin 5.4% → Net margin 4.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -1.0%; Core profit growth: -8.3%
Operating leverage (core profit growth ÷ revenue growth): 8.28×
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 | 192,494 | 190,553 | -1,941 | -1.0% |
| Gross profit | 40,892 | 41,691 | 799 | +2.0% |
| Operating income | 11,214 | 10,278 | -936 | -8.3% |
| Net income attributable to owners | 8,866 | 9,394 | 528 | +6.0% |
| Operating cash flow | 21,743 | 22,721 | 978 | +4.5% |
| Free cash flow | 12,998 | 10,598 | -2,400 | -18.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 178,530 | 13,923 | 7.8% | 7,318 | 21,524 | 6,998 | S100LSNG |
| FY ending Mar 2021 | 152,002 | 9,896 | 6.5% | 5,466 | 16,251 | 6,914 | S100OJUG |
| FY ending Mar 2022 | 163,537 | 10,701 | 6.5% | 8,087 | 19,859 | 8,580 | S100RLUS |
| FY ending Mar 2023 | 178,619 | 6,856 | 3.8% | 3,843 | 21,088 | 11,634 | S100TURC |
| FY ending Mar 2024 | 193,834 | 12,526 | 6.5% | 8,195 | 24,386 | 14,231 | S100VZYJ |
| FY ending Mar 2025 | 192,494 | 11,214 | 5.8% | 8,866 | 21,743 | 12,998 | S100YDSL |
| FY ending Mar 2026 | 190,553 | 10,278 | 5.4% | 9,394 | 22,721 | 10,598 | S100YDSL |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27.5M |
| Operating income per employee (consolidated) | ¥1.5M |
| Net income per employee (consolidated) | ¥1.4M |

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) | 6,672 | 6,935 | 6,959 | 6,740 | 6,925 |
| Average salary (parent company) | ¥7.2M | ¥7.3M | ¥7.4M | ¥7.5M | ¥7.5M |
| Average age (parent company) | 43.2 years | 43.2 years | 43.5 years | 43.5 years | 42.2 years |
| Average tenure (parent company) | 20.0 years | 19.8 years | 20.1 years | 19.0 years | 17.9 years |

Year over year: Employees (consolidated) +2.7% · Revenue (consolidated) -1.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 50,755 | 16.5% | 404 | 0.8% |
| Asia | 48,497 | 15.7% | 8,025 | 16.5% |
| North america | 15,777 | 5.1% | -325 | -2.1% |
| Other regions | 2,597 | 0.8% | 332 | 12.8% |
| TPR group (except FALTEC group) | 117,627 | 38.2% | 8,436 | 7.2% |
| FALTEC group | 72,925 | 23.7% | 1,403 | 1.9% |

### 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 | 16.5% | 2.2% | -14.3 | 0.8% |
| Asia | 15.7% | 43.1% | 27.4 | 16.5% |
| North america | 5.1% | — | — | -2.1% |
| Other regions | 0.8% | 1.8% | 0.9 | 12.8% |
| TPR group (except FALTEC group) | 38.2% | 45.4% | 7.2 | 7.2% |
| FALTEC group | 23.7% | 7.5% | -16.1 | 1.9% |

Loss-making segment (excluded from profit shares): North america -325 JPY mn

Segment → industry: FALTEC group → Auto Parts / TPR group (except FALTEC group) → Auto Parts / Other regions → Auto Parts / North america → Auto Parts / Asia → Auto Parts / Japan → Auto Parts

## 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 | 22,721 | 11.9% | S100YDSL |
| Capital expenditure | 12,123 | 6.4% | S100YDSL |
| Free cash flow | 10,598 | 5.6% | 算出 |
| Investing cash flow | -13,544 | -7.1% | S100YDSL |
| Financing cash flow | -11,583 | -6.1% | S100YDSL |
| Dividends paid | 3,306 | 1.7% | S100YDSL |
| Share buyback | 2,500 | 1.3% | S100YDSL |
| Change in cash | -1,428 | -0.7% | S100YDSL |
| Cash and equivalents | 59,369 | 31.2% | S100YDSL |

## 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 | 40,244 | 44,557 | 50,742 | 60,797 | 59,369 | S100TURC, S100VZYJ, S100YDSL |
| Total assets | 255,403 | 264,702 | 290,109 | 291,779 | 305,583 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Net assets | 159,752 | 165,903 | 189,640 | 198,635 | 213,016 | S100TURC, S100VZYJ, S100YDSL |
| Share capital | 4,758 | 4,758 | 4,758 | 4,758 | 4,762 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Property, plant and equipment | 71,715 | 71,567 | 70,665 | 69,191 | 69,079 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Intangible assets excluding goodwill | 2,337 | 2,416 | 3,793 | 3,722 | 3,733 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Goodwill | 133 | — | 1,031 | 852 | 672 | S100RLUS, S100VZYJ, S100YDSL |
| Investment securities | 31,325 | 31,602 | 38,076 | 35,651 | 43,737 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Current assets | 124,012 | 127,908 | 137,232 | 149,529 | 149,745 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Current liabilities | 66,077 | 70,440 | 68,356 | 63,967 | 62,607 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Trade payables | 17,561 | 18,143 | 17,347 | 17,996 | 19,824 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Short-term borrowings | 23,804 | 26,174 | 22,894 | 20,975 | 18,658 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Long-term borrowings | 12,292 | 10,538 | 8,995 | 8,575 | 7,955 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Total liabilities | 95,651 | 98,798 | 100,468 | 93,143 | 92,567 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Non-controlling interests | 30,810 | 31,999 | 32,135 | 35,684 | 38,046 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Equity attributable to owners of parent | 109,761 | 110,493 | 116,735 | 122,121 | 125,849 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Retained earnings | 103,452 | 102,782 | 108,974 | 115,621 | 119,561 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |
| Treasury stock | -2,695 | -1,012 | -963 | -2,224 | -2,443 | S100RLUS, S100TURC, S100VZYJ, S100YDSL |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YDSL |
| Property, plant and equipment | 23% | S100YDSL |
| Intangibles and goodwill | 2% | S100YDSL |
| Investment securities | 14% | S100YDSL |
| Other assets | 42% | S100YDSL |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YDSL |
| Other liabilities | 24% | S100YDSL |
| Equity | 70% | S100YDSL |

### 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 | 255,403 | 264,702 | 290,109 | 291,779 | 305,583 |
| Equity | 159,752 | 165,903 | 189,640 | 198,635 | 213,016 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 40,244 | 44,557 | 50,742 | 60,797 | 59,369 |

## 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) | 36.3% | S100YDSL |
| Fixed assets ÷ total assets | 22.6% | S100YDSL |
| Goodwill ÷ parent equity | 0.5% | S100YDSL |

Goodwill over 4 years: 133 → 672 JPY; total investing cash flow: -55,744 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) | 19.4% |
| Cash ÷ revenue | 31.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 221.1% |
| Cash vs. profit gap | 13,327 JPY mn (of net income 141.9%) |
| Shareholder returns / net income | 61.8% |
| Shareholder returns / FCF | 54.8% |
| Shareholder payments — dividends / net income | 35.2% |
| Shareholder payments — dividends / FCF | 31.2% |
| CapEx intensity (capex ÷ revenue) | 6.4% |
| Investing CF relative to operating CF | 59.6% |

## 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 | 4.9% | 0.64× | 3.2% | 2.33× | 7.4% | S100RLUS |
| 2023 | 2.2% | 0.69× | 1.5% | 2.36× | 3.5% | S100TURC |
| 2024 | 4.2% | 0.70× | 3.0% | 2.44× | 7.2% | S100VZYJ |
| 2025 | 4.6% | 0.66× | 3.0% | 2.44× | 7.4% | S100YDSL |
| 2026 | 4.9% | 0.64× | 3.1% | 2.41× | 7.6% | S100YDSL |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.0% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 7.4% | 2026-03-31 |
| 損害保険ジャパン株式会社 | Major shareholder | 7.0% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 4.7% | 2026-03-31 |
| ヒューリック株式会社 | Major shareholder | 3.8% | 2026-03-31 |
| 東京建物株式会社 | Major shareholder | 2.9% | 2026-03-31 |
| ＴＰＲ取引先持株会 | Major shareholder | 2.7% | 2026-03-31 |
| みずほ信託銀行株式会社 | Major shareholder | 2.4% | 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・日野自動車株式会社退職給付信託口） | Major shareholder | 2.3% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.2% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第93期(2025/04/01－2026/03/31) | S100YDSL | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDSL,, |
| 有価証券報告書－第92期(2024/04/01－2025/03/31) | S100VZYJ | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZYJ,, |
| 有価証券報告書－第91期(2023/04/01－2024/03/31) | S100TURC | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TURC,, |
| 訂正有価証券報告書－第90期(2022/04/01－2023/03/31) | S100RLUS | 2023-08-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RLUS,, |
| 有価証券報告書－第89期(令和3年4月1日－令和4年3月31日) | S100OJUG | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJUG,, |
| 有価証券報告書－第88期(令和2年4月1日－令和3年3月31日) | S100LSNG | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSNG,, |

## 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).