# UCHIDA YOKO CO., LTD.: business model and financials

> Latest period: FY ending Jul 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第87期(2024/07/21－2025/07/20) (S100WU40)
> Page: https://vizora.meequs.com/en/company/uchida-yoko
> Retrieved: 2026-09-30T21:36:55.212Z

## Company

Uchida Yoko, founded in 1910, is a company in IT Services & System Integration listed on TSE Prime. It has 3,272 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | UCHIDA YOKO CO., LTD. |
| Ticker | 8057 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8057.T) |
| Listing | TSE Prime |
| Head office | 東京都中央区新川二丁目4番7号 |
| Representative (per filing) | 代表取締役社長 大久保 昇 |
| Founded | Feb 1910 |
| Share capital | ¥5B |
| Employees (consolidated) | 3,272 |
| Average salary (parent only) | ¥7.8M |
| Fiscal year end | July |
| Website | www.uchida.co.jp (https://www.uchida.co.jp/) |
| Corporate number | 1010001034730 |
| EDINET | E02515 |
| Industries (Vizora) | IT Services & System Integration, Stationery & Office Supplies |

> Profile source: annual securities report (S100WU40, filed 2025-10-10). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2025-07-20)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 67.2 | 157 |
| Profitability | 17.1 | 196 |
| Cash conversion | 5.7 | 185 |
| Efficiency | 91.6 | 196 |

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 54% of Uchida Yoko's sales come from Information related, with Public related and Office related making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +21.3% from the prior year, operating profit +30.3%.

## Company structure

- Segment revenue mix: Information related 54.5%、Public related 27.5%、Office related 17.6%、Other 0.4%
- Revenue → net income: ¥337055000000 → ¥9867000000
- Net income → operating cash flow: ¥9867000000 → ¥549000000（difference ¥-9318000000）
- Main uses of operating cash flow: CapEx ¥1968000000 / dividends ¥2166000000 / buybacks ¥1000000
- Change in cash: ¥-3214000000
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 | ¥337.1B |  |
| Operating income | ¥12.2B | Margin 3.6% |
| Net income | ¥9.82B | Margin 2.9% |
| Free cash flow | -¥1.42B |  |
| Largest business | Information related | of segment revenue 54.5% |
| Employees (consolidated) | 3,272 |  |
| EPS | ¥837.43 |  |
| Book value per share | ¥4833.33 |  |
| Equity ratio | 40.3% |  |
| Shares outstanding | 10,419,000 |  |
| Treasury shares | 579,900 |  |
| Shareholders | 2,821 |  |
| Average salary (parent only) | ¥7.8M | Filing company only |
| Cash ratio | 13.2% | Cash ÷ revenue 6.8% |
| Vs. industry median margin | -5.3 pp | IT Services & System Integration |
| ROE | 17.2% | Derived from disclosed figures |
| ROA | 6.0% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥200307000000 | ¥337055000000 | +68.3% |
| Operating income | ¥7242000000 | ¥12174000000 | +68.1% |
| Operating margin | 3.6% | 3.6% | 0 pp |
| Employees | 3,184 people | 3,272 people | +2.8% |
| Cash and equivalents | ¥24890000000 | ¥23071000000 | -7.3% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 公共関連事業 → 公共関連事業 | 27.5% |
| 公共関連事業 → 事業再編・廃止 | 10.4% |
| オフィス関連事業 → オフィス関連事業 | 17.6% |
| オフィス関連事業 → 事業再編・廃止 | 6.9% |
| 情報関連事業 → 情報関連事業 | 37.2% |
| その他 → その他 | 0.4% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 情報関連事業 | 17.3% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Information related | 5 years | +19.8% | ¥183661000000 | 2.5% | 2 |
| Public related | 5 years | +4.1% | ¥92781000000 | 5.6% | 2 |
| Office related | 5 years | +3.9% | ¥59419000000 | 3.3% | 2 |
| Other | 5 years | +8.2% | ¥1192000000 | 24.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 337,055 | 100.0% | S100WU40 |
| Cost of revenue | 284,668 | 84.5% | S100WU40 |
| Gross profit | 52,387 | 15.5% | S100WU40 |
| SG&A | 40,213 | 11.9% | S100WU40 |
| Operating income | 12,174 | 3.6% | S100WU40 |
| Ordinary income | 13,126 | 3.9% | S100WU40 |
| Pretax income | 14,479 | 4.3% | S100WU40 |
| Income tax | 4,612 | 1.4% | S100WU40 |
| Net income | 9,867 | 2.9% | S100WU40 |
| Net income attributable to owners | 9,825 | 2.9% | S100WU40 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 12 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 15.5% → Operating margin 3.6% → Net margin 2.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +21.3%; Core profit growth: +30.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.42×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jul 2024 → FY ending Jul 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 277,940 | 337,055 | 59,115 | +21.3% |
| Gross profit | 47,734 | 52,387 | 4,653 | +9.7% |
| Operating income | 9,345 | 12,174 | 2,829 | +30.3% |
| Net income attributable to owners | 6,996 | 9,825 | 2,829 | +40.4% |
| Operating cash flow | 4,850 | 549 | -4,301 | -88.7% |
| Free cash flow | 2,871 | -1,419 | -4,290 | -149.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 164,386 | 3,813 | 2.3% | 2,415 | 5,543 | 4,086 | S100JW42 |
| FY ending Jul 2020 | 200,307 | 7,242 | 3.6% | 3,490 | 11,320 | 9,632 | S100MM3Q |
| FY ending Jul 2021 | 291,035 | 10,363 | 3.6% | 6,160 | 20,457 | 18,756 | S100PDCX |
| FY ending Jul 2022 | 221,856 | 7,890 | 3.6% | 4,477 | -5,414 | -7,662 | S100S0ZW |
| FY ending Jul 2023 | 246,549 | 8,436 | 3.4% | 6,366 | 7,269 | 5,309 | S100UIGR |
| FY ending Jul 2024 | 277,940 | 9,345 | 3.4% | 6,996 | 4,850 | 2,871 | S100WU40 |
| FY ending Jul 2025 | 337,055 | 12,174 | 3.6% | 9,825 | 549 | -1,419 | S100WU40 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥103M |
| Operating income per employee (consolidated) | ¥3.7M |
| Net income per employee (consolidated) | ¥3M |

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

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 3,203 | 3,212 | 3,241 | 3,248 | 3,272 |
| Average salary (parent company) | ¥7.8M | ¥7.7M | ¥7.4M | ¥7.5M | ¥7.8M |
| Average age (parent company) | 42.4 years | 41.7 years | 41.2 years | 40.9 years | 40.6 years |
| Average tenure (parent company) | 18.6 years | 17.9 years | 17.0 years | 16.6 years | 16.4 years |

Year over year: Employees (consolidated) +0.7% · Revenue (consolidated) +21.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Public related | 92,781 | 27.5% | 5,240 | 5.6% |
| Office related | 59,419 | 17.6% | 1,987 | 3.3% |
| Information related | 183,661 | 54.5% | 4,591 | 2.5% |
| Other | 1,192 | 0.4% | 290 | 24.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Public related | 27.5% | 43.3% | 15.8 | 5.6% |
| Office related | 17.6% | 16.4% | -1.2 | 3.3% |
| Information related | 54.5% | 37.9% | -16.6 | 2.5% |
| Other | 0.4% | 2.4% | 2.0 | 24.3% |

Segment → industry: Information related → IT Services & System Integration / Public related → IT Services & System Integration / Office related → Stationery & Office Supplies

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 549 | 0.2% | S100WU40 |
| Capital expenditure | 1,968 | 0.6% | S100WU40 |
| Free cash flow | -1,419 | -0.4% | 算出 |
| Investing cash flow | -1,027 | -0.3% | S100WU40 |
| Financing cash flow | -2,751 | -0.8% | S100WU40 |
| Dividends paid | 2,166 | 0.6% | S100WU40 |
| Share buyback | 1 | 0.0% | S100WU40 |
| Change in cash | -3,214 | -1.0% | S100WU40 |
| Cash and equivalents | 23,071 | 6.8% | S100WU40 |

## 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 Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 42,737 | 26,563 | 25,572 | 26,286 | 23,071 | S100S0ZW, S100UIGR, S100WU40 |
| Total assets | 133,116 | 125,503 | 133,008 | 150,753 | 174,917 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Net assets | 50,205 | 46,118 | 52,121 | 64,788 | 70,805 | S100S0ZW, S100UIGR, S100WU40 |
| Share capital | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Trade receivables | 40,564 | — | — | — | — | S100PDCX |
| Property, plant and equipment | 10,676 | 10,641 | 10,664 | 10,650 | 10,627 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Intangible assets excluding goodwill | 2,470 | 3,065 | 3,066 | 3,227 | 3,224 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Investment securities | 10,134 | 11,120 | 15,140 | 20,264 | 19,479 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Current assets | 103,053 | 95,091 | 98,331 | 106,354 | 131,642 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Current liabilities | 71,254 | 68,078 | 70,331 | 73,322 | 92,319 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Trade payables | 26,925 | 25,917 | 28,710 | 31,399 | 50,775 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Short-term borrowings | 2,230 | 2,130 | 2,130 | 2,130 | 1,970 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Long-term borrowings | — | 100 | 100 | — | — | S100S0ZW, S100UIGR |
| Total liabilities | 82,911 | 79,384 | 80,886 | 85,965 | 104,112 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Non-controlling interests | 4,923 | 399 | 224 | 247 | 257 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Equity attributable to owners of parent | 42,938 | 42,584 | 47,597 | 53,131 | 60,860 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Retained earnings | 36,124 | 39,007 | 43,997 | 49,487 | 57,146 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |
| Treasury stock | -1,482 | -1,423 | -1,405 | -1,391 | -1,366 | S100PDCX, S100S0ZW, S100UIGR, S100WU40 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100WU40 |
| Property, plant and equipment | 6% | S100WU40 |
| Intangibles and goodwill | 2% | S100WU40 |
| Investment securities | 11% | S100WU40 |
| Other assets | 68% | S100WU40 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 29% | S100WU40 |
| Other liabilities | 31% | S100WU40 |
| Equity | 40% | S100WU40 |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 133,116 | 125,503 | 133,008 | 150,753 | 174,917 |
| Equity | 50,205 | 46,118 | 52,121 | 64,788 | 70,805 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 42,737 | 26,563 | 25,572 | 26,286 | 23,071 |

## 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) | 3.2% | S100WU40 |
| Fixed assets ÷ total assets | 6.1% | S100WU40 |
| Goodwill ÷ parent equity | — | —, S100WU40 |

### 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) | 13.2% |
| Cash ÷ revenue | 6.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 4.5% |
| Cash vs. profit gap | -9,276 JPY mn (of net income -94.4%) |
| Shareholder returns / net income | 22.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 22.0% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.6% |
| Investing CF relative to operating CF | 187.1% |

## 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 | 2.1% | 2.19× | 4.6% | 3.10× | 14.3% | S100PDCX |
| 2022 | 2.0% | 1.72× | 3.5% | 3.02× | 10.5% | S100S0ZW |
| 2023 | 2.6% | 1.91× | 4.9% | 2.87× | 14.1% | S100UIGR |
| 2024 | 2.5% | 1.96× | 4.9% | 2.82× | 13.9% | S100WU40 |
| 2025 | 2.9% | 2.07× | 6.0% | 2.86× | 17.2% | S100WU40 |

## 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 | 11.4% | 2025-07-20 |
| 東京海上日動火災保険株式会社 | Major shareholder | 4.4% | 2025-07-20 |
| 三井住友信託銀行株式会社 | Major shareholder | 4.2% | 2025-07-20 |
| 内田洋行グループ従業員持株会 | Major shareholder | 3.4% | 2025-07-20 |
| 第一生命保険株式会社 | Major shareholder | 3.2% | 2025-07-20 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.1% | 2025-07-20 |
| 株式会社りそな銀行 | Major shareholder | 2.8% | 2025-07-20 |
| みずほ信託銀行株式会社 退職給付信託 みずほ銀行口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 2.8% | 2025-07-20 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC) （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 2.1% | 2025-07-20 |
| 陽光持株会 | Major shareholder | 2.0% | 2025-07-20 |

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

- Revenue for the FY ending Jul 2025 was ¥337.1B, up 21.3% from ¥277.9B a year earlier.
- Profit grew faster than sales: operating income rose 30.3% to ¥12.2B and net income rose 40.4% to ¥9.82B.
- Cash was a different story. Operating cash flow fell from ¥4.85B to ¥549M, and free cash flow turned negative at -¥1.42B.

### Drivers

- Work to bring local governments' core systems in line with national standards, plus school network upgrades and device replacements, lifted profit in the public segment.
- PC replacements and setup ahead of the end of support for an older Windows version, along with more cloud software subscriptions, drove strong sales growth in the information segment.
- Companies kept renovating and moving offices, so the office segment won more projects.
- Net income got an extra boost from selling part of the company's stock holdings.
- Operating cash flow shrank because sales jumped near year-end, leaving more unpaid invoices and more inventory on the books.

### Risks

- The business depends heavily on Japan, so cuts in corporate capital spending or public investment would hurt results.
- Fast change in AI, cloud and other technology could make its products and services outdated quickly if it falls behind.
- The company notes that if US tariff policy spreads its impact, corporate earnings, especially in manufacturing, could weaken.

Cited: Annual Securities Report (87th term) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report (87th term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第87期(2024/07/21－2025/07/20) | S100WU40 | 2025-10-10 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WU40,, |
| 有価証券報告書－第86期(2023/07/21－2024/07/20) | S100UIGR | 2024-10-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UIGR,, |
| 有価証券報告書－第85期(2022/07/21－2023/07/20) | S100S0ZW | 2023-10-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S0ZW,, |
| 有価証券報告書－第84期(令和3年7月21日－令和4年7月20日) | S100PDCX | 2022-10-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PDCX,, |
| 有価証券報告書－第83期(令和2年7月21日－令和3年7月20日) | S100MM3Q | 2021-10-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MM3Q,, |
| 有価証券報告書－第82期(令和1年7月21日－令和2年7月20日) | S100JW42 | 2020-10-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JW42,, |

## 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).