# TSUDAKOMA  Corp.: business model and financials

> Latest period: FY ending Nov 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第115期(2024/12/01－2025/11/30) (S100XMJD)
> Page: https://vizora.meequs.com/en/company/tsudakoma
> Retrieved: 2026-09-30T21:38:12.802Z

## Company

Tsudakoma is a company in Machine Tools listed on TSE Standard. It has 1,103 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TSUDAKOMA Corp. |
| Ticker | 6217 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6217.T) |
| Listing | TSE Standard |
| Head office | 石川県金沢市野町5丁目18番18号 |
| Representative (per filing) | 代表取締役会長兼社長 高納伸宏 |
| Share capital | ¥12.3B |
| Employees (consolidated) | 1,103 |
| Average salary (parent only) | ¥5.3M |
| Fiscal year end | November |
| Website | www.tsudakoma.co.jp (https://www.tsudakoma.co.jp/) |
| Corporate number | 3220001004330 |
| EDINET | E01524 |
| Industries (Vizora) | Machine Tools, Industrial Machinery |

> Profile source: annual securities report (S100XMJD, filed 2026-02-24). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2025-11-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 84.1 | 110 |
| Profitability | 3.7 | 122 |
| Efficiency | 93 | 122 |

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 85% of Tsudakoma's sales come from Textile machinery, with Machine tool making up much of the rest.
- Operating profit was close to zero, a slight loss per ¥100 of sales.
- Revenue changed -2.7% from the prior year, operating profit -119.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥35.4B |  |
| Operating income | -¥79M | Margin -0.2% |
| Net income | -¥262M | Margin -0.7% |
| Free cash flow | ¥599M |  |
| Largest business | Textile machinery | of segment revenue 85.2% |
| Employees (consolidated) | 1,103 |  |
| EPS | ¥14.78 |  |
| Book value per share | ¥255.03 |  |
| Equity ratio | 9.7% |  |
| Shares outstanding | 6,807,555 |  |
| Treasury shares | 420,100 |  |
| Shareholders | 3,431 |  |
| Average salary (parent only) | ¥5.3M | Filing company only |
| Cash ratio | 11.7% | Cash ÷ revenue 9.7% |
| Vs. industry median margin | -7.8 pp | Industrial Machinery |
| ROA | -0.9% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 68% of positive segment profit

## What changed in 5 years

| Metric | FY ending Nov 2020 | FY ending Nov 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥20851000000 | ¥35447000000 | +70.0% |
| Operating income | ¥-4484000000 | ¥-79000000 | — |
| Operating margin | -21.5% | -0.2% | +21.3 pp |
| Employees | 1,337 people | 1,103 people | -17.5% |
| Cash and equivalents | ¥6860000000 | ¥3437000000 | -49.9% |

### Change in segment revenue mix

Span: FY ending Nov 2020 → FY ending Nov 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 繊維機械事業 → 繊維機械事業 | 74.6% |
| 工作機械関連事業 → 工作機械関連事業 | 14.8% |
| 工作機械関連事業 → 事業再編・廃止 | 10.6% |
| 新設・再編 → 繊維機械事業 | 10.6% |

Segment revenue source references: 4 (derived)

## Income statement（FY ending Nov 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 35,447 | 100.0% | S100XMJD |
| Cost of revenue | 29,658 | 83.7% | S100XMJD |
| Gross profit | 5,789 | 16.3% | S100XMJD |
| SG&A | 5,869 | 16.6% | S100XMJD |
| Operating income | -79 | -0.2% | S100XMJD |
| Ordinary income | -218 | -0.6% | S100XMJD |
| Pretax income | -140 | -0.4% | S100XMJD |
| Income tax | 114 | 0.3% | S100XMJD |
| Net income | -254 | -0.7% | S100XMJD |
| Net income attributable to owners | -262 | -0.7% | S100XMJD |

## Per ¥100 of revenue（FY ending Nov 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 16 |
| Operating income | 0 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 16.3% → Operating margin -0.2% → Net margin -0.7%
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 Nov 2024 → FY ending Nov 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 36,445 | 35,447 | -998 | -2.7% |
| Gross profit | 5,932 | 5,789 | -143 | -2.4% |
| Operating income | 398 | -79 | -477 | -119.8% |
| Net income attributable to owners | 488 | -262 | -750 | -153.7% |
| Operating cash flow | 801 | 987 | 186 | +23.2% |
| Free cash flow | 587 | 599 | 12 | +2.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Nov 2019 | 37,698 | -228 | -0.6% | -594 | 1,738 | 229 | S100KUYO |
| FY ending Nov 2020 | 20,851 | -4,484 | -21.5% | -4,520 | -3,522 | -5,084 | S100NKPW |
| FY ending Nov 2021 | 27,796 | -3,723 | -13.4% | -4,495 | -2,905 | -3,814 | S100QAP4 |
| FY ending Nov 2022 | 31,189 | -2,497 | -8.0% | -2,567 | -1,875 | -2,452 | S100SYM7 |
| FY ending Nov 2023 | 39,278 | -1,216 | -3.1% | -1,246 | -1,285 | -1,526 | S100VAUY |
| FY ending Nov 2024 | 36,445 | 398 | 1.1% | 488 | 801 | 587 | S100XMJD |
| FY ending Nov 2025 | 35,447 | -79 | -0.2% | -262 | 987 | 599 | S100XMJD |

## People and productivity（FY ending Nov 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥32.1M |
| Operating income per employee (consolidated) | -¥71.6K |
| Net income per employee (consolidated) | -¥237.5K |

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

| History | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,324 | 1,211 | 1,157 | 1,111 | 1,103 |
| Average salary (parent company) | ¥4.8M | ¥4.7M | ¥4.9M | ¥5M | ¥5.3M |
| Average age (parent company) | 44.4 years | 44.5 years | 45.7 years | 46.6 years | 47.2 years |
| Average tenure (parent company) | 21.6 years | 21.6 years | 22.9 years | 23.6 years | 23.8 years |

Year over year: Employees (consolidated) -0.7% · Revenue (consolidated) -2.7%

## Segments（FY ending Nov 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Textile machinery | 30,199 | 85.2% | 667 | 2.2% |
| Machine tool | 5,247 | 14.8% | 316 | 6.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Textile machinery | 85.2% | 67.9% | -17.3 | 2.2% |
| Machine tool | 14.8% | 32.1% | 17.3 | 6.0% |

Segment → industry: Machine tool → Machine Tools / Textile machinery → Industrial Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Nov 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 987 | 2.8% | S100XMJD |
| Capital expenditure | 388 | 1.1% | S100XMJD |
| Free cash flow | 599 | 1.7% | 算出 |
| Investing cash flow | -127 | -0.4% | S100XMJD |
| Financing cash flow | -335 | -0.9% | S100XMJD |
| Share buyback | 0 | 0.0% | S100XMJD |
| Change in cash | 529 | 1.5% | S100XMJD |
| Cash and equivalents | 3,437 | 9.7% | S100XMJD |

## 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 Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,871 | 3,390 | 2,544 | 2,907 | 3,437 | S100SYM7, S100VAUY, S100XMJD |
| Total assets | 32,325 | 33,578 | 31,334 | 30,252 | 29,361 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Net assets | 5,252 | 3,164 | 2,115 | 2,848 | 2,985 | S100SYM7, S100VAUY, S100XMJD |
| Share capital | 12,316 | 12,316 | 12,316 | 12,316 | 12,316 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Trade receivables | 8,005 | 7,276 | 8,062 | 7,770 | 5,925 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Property, plant and equipment | 9,001 | 8,396 | 7,779 | 7,363 | 7,181 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Intangible assets excluding goodwill | 612 | 468 | 302 | 106 | 43 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Investment securities | 1,325 | 1,102 | 917 | 349 | 189 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Current assets | 20,302 | 21,648 | 19,793 | 19,140 | 17,858 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Current liabilities | 18,566 | 23,095 | 21,187 | 20,386 | 20,117 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Trade payables | 3,009 | 4,106 | 3,434 | 3,162 | 2,822 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Short-term borrowings | 9,561 | 10,733 | 10,090 | 10,001 | 10,539 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Long-term borrowings | 3,310 | 2,563 | 3,333 | 2,453 | 1,590 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Total liabilities | 27,073 | 30,414 | 29,218 | 27,404 | 26,375 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Non-controlling interests | 112 | 116 | 127 | 131 | 138 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Equity attributable to owners of parent | 4,663 | 2,039 | 793 | 1,281 | 1,019 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Retained earnings | -8,845 | -11,468 | -12,714 | -12,226 | -12,488 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |
| Treasury stock | -1,242 | -1,243 | -1,243 | -1,243 | -1,243 | S100QAP4, S100SYM7, S100VAUY, S100XMJD |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 12% | S100XMJD |
| Receivables | 20% | S100XMJD |
| Property, plant and equipment | 24% | S100XMJD |
| Intangibles and goodwill | 0% | S100XMJD |
| Investment securities | 1% | S100XMJD |
| Other assets | 43% | S100XMJD |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 10% | S100XMJD |
| Other liabilities | 80% | S100XMJD |
| Equity | 10% | S100XMJD |
| Other liabilities | 0% | S100XMJD |

### Balance sheet history

| Metric | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 32,325 | 33,578 | 31,334 | 30,252 | 29,361 |
| Equity | 5,252 | 3,164 | 2,115 | 2,848 | 2,985 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,871 | 3,390 | 2,544 | 2,907 | 3,437 |

## 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) | 20.3% | S100XMJD |
| Fixed assets ÷ total assets | 24.5% | S100XMJD |
| Goodwill ÷ parent equity | — | —, S100XMJD |

### 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) | 11.7% |
| Cash ÷ revenue | 9.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 1,249 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.1% |
| Investing CF relative to operating CF | 12.9% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | — | —× | -13.9% | —× | — | S100QAP4 |
| 2022 | — | —× | -7.8% | —× | — | S100SYM7 |
| 2023 | — | —× | -3.8% | —× | — | S100VAUY |
| 2024 | 1.3% | 1.18× | 1.6% | 29.69× | 47.1% | S100XMJD |
| 2025 | — | —× | -0.9% | —× | — | S100XMJD |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 津田駒取引先持株会 | Major shareholder | 21.8% | 2025-11-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 10.3% | 2025-11-30 |
| HSU CHENG CHUNG(常任代理人 シティバンク、 エヌ・エイ東京支店) | Major shareholder | 7.0% | 2025-11-30 |
| 明治安田生命保険相互会社 | Major shareholder | 4.4% | 2025-11-30 |
| ツダコマ従業員持株会 | Major shareholder | 3.5% | 2025-11-30 |
| 東京海上日動火災保険株式会社 | Major shareholder | 2.3% | 2025-11-30 |
| 株式会社北陸銀行 | Major shareholder | 1.5% | 2025-11-30 |
| 吉江 克己 | Major shareholder | 1.2% | 2025-11-30 |
| 株式会社SBI証券 | Major shareholder | 0.9% | 2025-11-30 |
| みずほ信託銀行株式会社退職給付信託 北陸銀行口再信託受託者 株式会社日本カストディ株式会社 | Major shareholder | 0.8% | 2025-11-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第115期(2024/12/01－2025/11/30) | S100XMJD | 2026-02-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XMJD,, |
| 有価証券報告書－第114期(2023/12/01－2024/11/30) | S100VAUY | 2025-02-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VAUY,, |
| 有価証券報告書－第113期(2022/12/01－2023/11/30) | S100SYM7 | 2024-02-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SYM7,, |
| 有価証券報告書－第112期(2021/12/01－2022/11/30) | S100QAP4 | 2023-02-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QAP4,, |
| 有価証券報告書－第111期(令和2年12月1日－令和3年11月30日) | S100NKPW | 2022-02-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NKPW,, |
| 有価証券報告書－第110期(令和1年12月1日－令和2年11月30日) | S100KUYO | 2021-02-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KUYO,, |

## 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).