# UCHIYAMA HOLDINGS 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20期(2025/04/01－2026/03/31) (S100YJMS)
> Page: https://vizora.meequs.com/en/company/uchiyama-holdings
> Retrieved: 2026-09-30T19:13:07.471Z

## Company

Uchiyama Holdings, founded in 2006, is a company in Amusement Centers & Karaoke listed on TSE Standard. It has 2,331 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | UCHIYAMA HOLDINGS Co.,Ltd. |
| Ticker | 6059 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6059.T) |
| Listing | TSE Standard |
| Head office | 福岡県北九州市小倉北区熊本二丁目10番10号 |
| Representative (per filing) | 代表取締役社長 山本 武博 |
| Founded | Oct 2006 |
| Share capital | ¥2.22B |
| Employees (consolidated) | 2,331 |
| Average salary (parent only) | ¥4.5M |
| Fiscal year end | March |
| Corporate number | 5290801007284 |
| EDINET | E26454 |
| Industries (Vizora) | Amusement Centers & Karaoke, Real Estate Development & Leasing, Real Estate Brokerage & Management, Nursing Care, Restaurants & Pubs |

> Profile source: annual securities report (S100YJMS, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Nursing Care (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 36.7 | 15 |
| Profitability | 26.2 | 21 |
| Cash conversion | 50 | 19 |
| Efficiency | 45.2 | 21 |

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 83% of Uchiyama Holdings's sales come from Care nursing, with Karaoke and Food and beverage making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +1.6% from the prior year, operating profit +164.6%.

## Company structure

- Segment revenue mix: Care nursing 82.7%、Karaoke 13.9%、Food and beverage 2.0%、Real estate business 1.1%、Other 0.3%
- Revenue → net income: ¥29577764000 → ¥296120000
- Net income → operating cash flow: ¥296120000 → ¥685568000（difference ¥389448000）
- Main uses of operating cash flow: CapEx ¥1029444000 / dividends ¥194564000 / buybacks —
- Change in cash: ¥-525026000
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 | ¥29.6B |  |
| Operating income | ¥551.8M | Margin 1.9% |
| Net income | ¥296.1M | Margin 1.0% |
| Free cash flow | -¥343.9M |  |
| Largest business | Care nursing | of segment revenue 82.7% |
| Employees (consolidated) | 2,331 |  |
| EPS | ¥10.98 |  |
| Book value per share | ¥405.17 |  |
| Equity ratio | 46.8% |  |
| Shares outstanding | 21,618,800 |  |
| Treasury shares | 2,142,200 |  |
| Shareholders | 5,439 |  |
| Average salary (parent only) | ¥4.5M | Filing company only |
| Cash ratio | 34.2% | Cash ÷ revenue 35.4% |
| Vs. industry median margin | -4.3 pp | Nursing Care |
| ROE | 2.1% | Derived from disclosed figures |
| ROA | 1.0% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.3× net income
- FY2026, one segment accounts for 94% of positive segment profit
- FY2026, cash is 34% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥23795670000 | ¥29577764000 | +24.3% |
| Operating income | ¥-1085213000 | ¥551796000 | — |
| Operating margin | -4.6% | 1.9% | +6.4 pp |
| Employees | 2,196 people | 2,331 people | +6.1% |
| Cash and equivalents | ¥10509363000 | ¥10459236000 | -0.5% |

### 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 |
| --- | ---: |
| 介護事業 → 介護事業 | 82.7% |
| 介護事業 → 事業再編・廃止 | 1.4% |
| カラオケ事業 → カラオケ事業 | 13.3% |
| 飲食事業 → 飲食事業 | 1.4% |
| 不動産事業 → 不動産事業 | 0.7% |
| その他 → その他 | 0.3% |
| その他 → 事業再編・廃止 | 0.2% |
| 新設・再編 → カラオケ事業 | 0.6% |
| 新設・再編 → 飲食事業 | 0.5% |
| 新設・再編 → 不動産事業 | 0.4% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Care nursing | 5 years | +4.1% | ¥24457839000 | 7.3% | 2 |
| Karaoke | 5 years | +5.3% | ¥4110959000 | -0.4% | 2 |
| Food and beverage | 5 years | +11.2% | ¥581251000 | -0.8% | 2 |
| Real estate business | 5 years | +15.4% | ¥325528000 | 12.9% | 2 |
| Other | 5 years | -3.1% | ¥102184000 | 72.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,578 | 100.0% | S100YJMS |
| Cost of revenue | 27,478 | 92.9% | S100YJMS |
| Gross profit | 2,100 | 7.1% | S100YJMS |
| SG&A | 1,548 | 5.2% | S100YJMS |
| Operating income | 552 | 1.9% | S100YJMS |
| Ordinary income | 852 | 2.9% | S100YJMS |
| Pretax income | 725 | 2.5% | S100YJMS |
| Income tax | 429 | 1.5% | S100YJMS |
| Net income | 296 | 1.0% | S100YJMS |
| Net income attributable to owners | 296 | 1.0% | S100YJMS |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 93 |
| SG&A | 5 |
| Operating income | 2 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 7.1% → Operating margin 1.9% → Net margin 1.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.6%; Core profit growth: +164.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 101.54×
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 | 29,106 | 29,578 | 472 | +1.6% |
| Gross profit | 1,792 | 2,100 | 307 | +17.1% |
| Operating income | 209 | 552 | 343 | +164.6% |
| Net income attributable to owners | 2,051 | 296 | -1,755 | -85.6% |
| Operating cash flow | 255 | 686 | 431 | +169.2% |
| Free cash flow | -801 | -344 | 457 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 30,295 | 1,076 | 3.6% | 3 | 3,072 | 1,450 | S100LOTS |
| FY ending Mar 2021 | 23,796 | -1,085 | -4.6% | -2,231 | -857 | -2,508 | S100OECU |
| FY ending Mar 2022 | 24,958 | -529 | -2.1% | -650 | 1,715 | 479 | S100R4OR |
| FY ending Mar 2023 | 26,912 | -799 | -3.0% | -401 | 7 | -2,463 | S100TVAJ |
| FY ending Mar 2024 | 28,843 | 589 | 2.0% | 214 | 1,986 | 1,090 | S100W2FD |
| FY ending Mar 2025 | 29,106 | 209 | 0.7% | 2,051 | 255 | -801 | S100YJMS |
| FY ending Mar 2026 | 29,578 | 552 | 1.9% | 296 | 686 | -344 | S100YJMS |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥12.7M |
| Operating income per employee (consolidated) | ¥236.7K |
| Net income per employee (consolidated) | ¥127K |

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) | 2,206 | 2,333 | 2,269 | 2,268 | 2,331 |
| Average salary (parent company) | ¥4.3M | ¥4.5M | ¥4.5M | ¥4.4M | ¥4.5M |
| Average age (parent company) | 42.9 years | 45.9 years | 45.5 years | 46.9 years | 47.6 years |
| Average tenure (parent company) | 10.8 years | 11.7 years | 10.7 years | 14.4 years | 14.7 years |

Year over year: Employees (consolidated) +2.8% · Revenue (consolidated) +1.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Care nursing | 24,458 | 82.7% | 1,773 | 7.3% |
| Karaoke | 4,111 | 13.9% | -18 | -0.4% |
| Food and beverage | 581 | 2.0% | -4 | -0.8% |
| Real estate business | 326 | 1.1% | 42 | 12.9% |
| Other | 102 | 0.3% | 74 | 72.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Care nursing | 82.7% | 93.9% | 11.2 | 7.3% |
| Karaoke | 13.9% | — | — | -0.4% |
| Food and beverage | 2.0% | — | — | -0.8% |
| Real estate business | 1.1% | 2.2% | 1.1 | 12.9% |
| Other | 0.3% | 3.9% | 3.6 | 72.1% |

Loss-making segment (excluded from profit shares): Karaoke -18 JPY mn

Loss-making segment (excluded from profit shares): Food and beverage -4 JPY mn

Segment → industry: Karaoke → Amusement Centers & Karaoke / Real estate business → Real Estate Development & Leasing / Real estate business → Real Estate Brokerage & Management / Care nursing → Nursing Care / Food and beverage → Restaurants & Pubs

## 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 | 686 | 2.3% | S100YJMS |
| Capital expenditure | 1,029 | 3.5% | S100YJMS |
| Free cash flow | -344 | -1.2% | 算出 |
| Investing cash flow | -881 | -3.0% | S100YJMS |
| Financing cash flow | -329 | -1.1% | S100YJMS |
| Dividends paid | 195 | 0.7% | S100YJMS |
| Change in cash | -525 | -1.8% | S100YJMS |
| Cash and equivalents | 10,459 | 35.4% | S100YJMS |

## 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 | 11,659 | 9,055 | 10,094 | 10,984 | 10,459 | S100TVAJ, S100W2FD, S100YJMS |
| Total assets | 30,570 | 30,068 | 31,123 | 31,061 | 30,614 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Net assets | 12,885 | 12,262 | 12,367 | 14,242 | 14,343 | S100TVAJ, S100W2FD, S100YJMS |
| Share capital | 2,223 | 2,223 | 2,223 | 2,223 | 2,223 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Property, plant and equipment | 9,453 | 11,090 | 10,772 | 8,336 | 8,737 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Intangible assets excluding goodwill | 43 | 37 | 33 | 56 | 48 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Goodwill | — | — | — | 28 | — | S100YJMS |
| Investment securities | 1,290 | 1,157 | 1,180 | 1,335 | 1,477 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Current assets | 15,662 | 13,528 | 14,997 | 15,737 | 15,864 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Current liabilities | 9,391 | 8,336 | 9,263 | 8,117 | 6,694 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Short-term borrowings | 3,238 | 2,878 | 2,855 | 2,412 | 1,038 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Long-term borrowings | 6,907 | 8,160 | 8,192 | 7,864 | 8,791 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Bonds | 60 | — | — | — | — | S100R4OR |
| Interest-bearing debt | 10,205 | — | — | — | — | 算出 |
| Total liabilities | 17,685 | 17,805 | 18,756 | 16,818 | 16,271 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Equity attributable to owners of parent | 12,898 | 12,303 | 12,335 | 14,198 | 14,305 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Retained earnings | 9,174 | 8,580 | 8,599 | 10,456 | 10,558 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |
| Treasury stock | -1,164 | -1,164 | -1,146 | -1,137 | -1,127 | S100R4OR, S100TVAJ, S100W2FD, S100YJMS |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 34% | S100YJMS |
| Property, plant and equipment | 29% | S100YJMS |
| Intangibles and goodwill | 0% | S100YJMS |
| Investment securities | 5% | S100YJMS |
| Other assets | 32% | S100YJMS |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 53% | S100YJMS |
| Equity | 47% | S100YJMS |
| Other liabilities | 0% | S100YJMS |

### 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 | 30,570 | 30,068 | 31,123 | 31,061 | 30,614 |
| Equity | 12,885 | 12,262 | 12,367 | 14,242 | 14,343 |
| Interest-bearing debt | 10,205 | — | — | — | — |
| Cash | 11,659 | 9,055 | 10,094 | 10,984 | 10,459 |

## 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) | 29.5% | S100YJMS |
| Fixed assets ÷ total assets | 28.5% | S100YJMS |
| Goodwill ÷ parent equity | — | —, S100YJMS |

### 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) | 34.2% |
| Cash ÷ revenue | 35.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 124.2% |
| Cash vs. profit gap | 389 JPY mn (of net income 131.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 65.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.5% |
| Investing CF relative to operating CF | 128.6% |

## 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 | — | —× | -2.1% | —× | — | S100R4OR |
| 2023 | — | —× | -1.3% | —× | — | S100TVAJ |
| 2024 | 0.7% | 0.94× | 0.7% | 2.48× | 1.7% | S100W2FD |
| 2025 | 7.0% | 0.94× | 6.6% | 2.34× | 15.5% | S100YJMS |
| 2026 | 1.0% | 0.96× | 1.0% | 2.16× | 2.1% | S100YJMS |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 内山 文治 | Major shareholder | 44.4% | 2026-03-31 |
| 内山 孝子 | Major shareholder | 4.5% | 2026-03-31 |
| ウチヤマホールディングス取引先持株会 | Major shareholder | 3.0% | 2026-03-31 |
| 水元 公仁 | Major shareholder | 3.0% | 2026-03-31 |
| ウチヤマホールディングス従業員持株会 | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社第一興商 | Major shareholder | 2.6% | 2026-03-31 |
| 株式会社エクシング | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.4% | 2026-03-31 |
| サントリー株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| 西中国信用金庫 | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第20期(2025/04/01－2026/03/31) | S100YJMS | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJMS,, |
| 有価証券報告書－第19期(2024/04/01－2025/03/31) | S100W2FD | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2FD,, |
| 有価証券報告書－第18期(2023/04/01－2024/03/31) | S100TVAJ | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVAJ,, |
| 有価証券報告書－第17期(2022/04/01－2023/03/31) | S100R4OR | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4OR,, |
| 有価証券報告書－第16期(令和3年4月1日－令和4年3月31日) | S100OECU | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OECU,, |
| 有価証券報告書－第15期(令和2年4月1日－令和3年3月31日) | S100LOTS | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOTS,, |

## 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).