# UMC Electronics 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59期(2025/04/01－2026/03/31) (S100YK9A)
> Page: https://vizora.meequs.com/en/company/umc-electronics
> Retrieved: 2026-09-30T20:58:25.968Z

## Company

UMC Electronics, founded in 1968, is a company in Electronic Components listed on TSE Prime. It has 5,596 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | UMC Electronics Co.,Ltd. |
| Ticker | 6615 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6615.T) |
| Listing | TSE Prime |
| Head office | 埼玉県上尾市瓦葺721番地 |
| Representative (per filing) | 代表取締役社長 大年 浩太 |
| Founded | Jan 1968 |
| Share capital | ¥4.73B |
| Employees (consolidated) | 5,596 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Website | www.umc.co.jp (https://www.umc.co.jp/) |
| Corporate number | 1030001044117 |
| EDINET | E32169 |
| Industries (Vizora) | Electronic Components |

> Profile source: annual securities report (S100YK9A, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Electronic Components (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 6.6 | 53 |
| Profitability | 17 | 56 |
| Cash conversion | 78.1 | 48 |
| Efficiency | 95.5 | 56 |

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)

- UMC Electronics brought in ¥112.7B in revenue.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed -14.6% from the prior year, operating profit -43.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥112726000000 → ¥295000000
- Net income → operating cash flow: ¥295000000 → ¥2586000000（difference ¥2291000000）
- Main uses of operating cash flow: CapEx ¥3790000000 / dividends ¥329000000 / buybacks —
- Change in cash: ¥-960000000
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 | ¥112.7B |  |
| Operating income | ¥1.21B | Margin 1.1% |
| Net income | ¥283M | Margin 0.3% |
| Free cash flow | -¥1.2B |  |
| Employees (consolidated) | 5,596 |  |
| EPS | ¥10.93 |  |
| Book value per share | ¥159.3 |  |
| Equity ratio | 22.5% |  |
| Shares outstanding | 28,277,620 |  |
| Treasury shares | 137,800 |  |
| Shareholders | 5,631 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 14.0% | Cash ÷ revenue 9.4% |
| Vs. industry median margin | -4.8 pp | Electronic Components |
| ROE | 2.0% | Derived from disclosed figures |
| ROA | 0.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 9.1× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥136179000000 | ¥112726000000 | -17.2% |
| Operating income | ¥857000000 | ¥1209000000 | +41.1% |
| Operating margin | 0.6% | 1.1% | +0.4 pp |
| Employees | 8,657 people | 5,596 people | -35.4% |
| Cash and equivalents | ¥9170000000 | ¥10599000000 | +15.6% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 112,726 | 100.0% | S100YK9A |
| Cost of revenue | 106,201 | 94.2% | S100YK9A |
| Gross profit | 6,525 | 5.8% | S100YK9A |
| SG&A | 5,315 | 4.7% | S100YK9A |
| Operating income | 1,209 | 1.1% | S100YK9A |
| Ordinary income | 1,107 | 1.0% | S100YK9A |
| Pretax income | 1,116 | 1.0% | S100YK9A |
| Income tax | 821 | 0.7% | S100YK9A |
| Net income | 295 | 0.3% | S100YK9A |
| Net income attributable to owners | 283 | 0.3% | S100YK9A |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 94 |
| SG&A | 5 |
| Operating income | 1 |
| (Ref.) Net income | 0 |

### Margin funnel

Gross margin 5.8% → Operating margin 1.1% → Net margin 0.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -14.6%; Core profit growth: -43.7%
Operating leverage (core profit growth ÷ revenue growth): 3.00×
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 | 131,938 | 112,726 | -19,212 | -14.6% |
| Gross profit | 7,570 | 6,525 | -1,045 | -13.8% |
| Operating income | 2,149 | 1,209 | -940 | -43.7% |
| Net income attributable to owners | -2,508 | 283 | 2,791 | — |
| Operating cash flow | 10,352 | 2,586 | -7,766 | -75.0% |
| Free cash flow | 7,293 | -1,204 | -8,497 | -116.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 141,010 | -5,188 | -3.7% | -12,571 | 427 | -3,979 | S100LVU5 |
| FY ending Mar 2021 | 136,179 | 857 | 0.6% | -97 | 2,592 | 735 | S100OMNF |
| FY ending Mar 2022 | 134,550 | 1,498 | 1.1% | 1,570 | -3,510 | -5,956 | S100RAPJ |
| FY ending Mar 2023 | 161,706 | 2,222 | 1.4% | 637 | 361 | -2,816 | S100U7DH |
| FY ending Mar 2024 | 131,289 | 2,043 | 1.6% | 1,021 | 8,660 | 4,508 | S100W9P7 |
| FY ending Mar 2025 | 131,938 | 2,149 | 1.6% | -2,508 | 10,352 | 7,293 | S100YK9A |
| FY ending Mar 2026 | 112,726 | 1,209 | 1.1% | 283 | 2,586 | -1,204 | S100YK9A |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥20.1M |
| Operating income per employee (consolidated) | ¥216K |
| Net income per employee (consolidated) | ¥50.6K |

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) | 8,324 | 8,671 | 5,689 | 5,904 | 5,596 |
| Average salary (parent company) | ¥6.1M | ¥6.5M | ¥6.2M | ¥6.3M | ¥6.2M |
| Average age (parent company) | 46.0 years | 46.2 years | 45.2 years | 45.2 years | 45.0 years |
| Average tenure (parent company) | 13.3 years | 12.0 years | 13.3 years | 13.2 years | 13.3 years |

Year over year: Employees (consolidated) -5.2% · Revenue (consolidated) -14.6%

## 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 | 2,586 | 2.3% | S100YK9A |
| Capital expenditure | 3,790 | 3.4% | S100YK9A |
| Free cash flow | -1,204 | -1.1% | 算出 |
| Investing cash flow | -4,331 | -3.8% | S100YK9A |
| Financing cash flow | 575 | 0.5% | S100YK9A |
| Dividends paid | 329 | 0.3% | S100YK9A |
| Change in cash | -960 | -0.9% | S100YK9A |
| Cash and equivalents | 10,599 | 9.4% | S100YK9A |

## 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 | 7,933 | 9,749 | 10,266 | 11,559 | 10,599 | S100U7DH, S100W9P7, S100YK9A |
| Total assets | 73,368 | 84,785 | 79,015 | 73,626 | 75,900 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Net assets | 17,086 | 18,010 | 19,717 | 15,317 | 17,143 | S100U7DH, S100W9P7, S100YK9A |
| Share capital | 4,729 | 4,729 | 4,729 | 4,729 | 4,729 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Property, plant and equipment | 16,086 | 17,629 | 19,750 | 19,408 | 20,319 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Intangible assets excluding goodwill | 155 | 197 | 351 | 891 | 1,367 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Goodwill | 44 | 8 | — | — | — | S100RAPJ, S100U7DH |
| Current assets | 54,268 | 59,036 | 50,867 | 45,736 | 46,033 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Current liabilities | 47,772 | 53,655 | 45,764 | 46,036 | 48,427 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Trade payables | 22,399 | 21,076 | 16,658 | 16,225 | 16,441 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Short-term borrowings | 18,018 | 24,613 | 21,415 | 18,486 | 22,769 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Long-term borrowings | 6,375 | 11,350 | 11,813 | 10,794 | 8,812 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Total liabilities | 56,281 | 66,775 | 59,297 | 58,308 | 58,756 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Non-controlling interests | 54 | 11 | 17 | 26 | 36 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Equity attributable to owners of parent | 16,689 | 17,338 | 18,359 | 14,305 | 14,261 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Retained earnings | 1,487 | 2,124 | 7,846 | 4,838 | 4,794 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |
| Treasury stock | 0 | 0 | 0 | -44 | -44 | S100RAPJ, S100U7DH, S100W9P7, S100YK9A |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YK9A |
| Property, plant and equipment | 27% | S100YK9A |
| Intangibles and goodwill | 2% | S100YK9A |
| Other assets | 57% | S100YK9A |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 22% | S100YK9A |
| Other liabilities | 56% | S100YK9A |
| Equity | 22% | S100YK9A |
| Other liabilities | 0% | S100YK9A |

### 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 | 73,368 | 84,785 | 79,015 | 73,626 | 75,900 |
| Equity | 17,086 | 18,010 | 19,717 | 15,317 | 17,143 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,933 | 9,749 | 10,266 | 11,559 | 10,599 |

## 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) | 18.0% | S100YK9A |
| Fixed assets ÷ total assets | 26.8% | S100YK9A |
| Goodwill ÷ parent equity | — | —, S100YK9A |

### 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) | 14.0% |
| Cash ÷ revenue | 9.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 213.9% |
| Cash vs. profit gap | 2,303 JPY mn (of net income 813.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 116.3% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.4% |
| Investing CF relative to operating CF | 167.5% |

## 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 | 1.2% | 1.83× | 2.1% | 4.40× | 9.4% | S100RAPJ |
| 2023 | 0.4% | 2.04× | 0.8% | 4.65× | 3.7% | S100U7DH |
| 2024 | 0.8% | 1.60× | 1.2% | 4.59× | 5.7% | S100W9P7 |
| 2025 | — | —× | -3.3% | —× | — | S100YK9A |
| 2026 | 0.3% | 1.51× | 0.4% | 5.23× | 2.0% | S100YK9A |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社豊田自動織機 | Major shareholder | 34.6% | 2026-03-31 |
| 株式会社ネクスティエレクトロニクス | Major shareholder | 7.8% | 2026-03-31 |
| 株式会社アイシン | Major shareholder | 7.8% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社(信託口)(注)１ | Major shareholder | 4.9% | 2026-03-31 |
| 野村信託銀行株式会社(信託口２０５２２５１)(注)２ | Major shareholder | 4.2% | 2026-03-31 |
| ＵＭＣグループ社員持株会 | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社商工組合中央金庫 | Major shareholder | 1.6% | 2026-03-31 |
| Ｈ・ウチヤマ・ホールディングス有限会社 | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 1.2% | 2026-03-31 |
| ミナミ株式会社 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第59期(2025/04/01－2026/03/31) | S100YK9A | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YK9A,, |
| 有価証券報告書－第58期(2024/04/01－2025/03/31) | S100W9P7 | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W9P7,, |
| 訂正有価証券報告書－第57期(2023/04/01－2024/03/31) | S100U7DH | 2024-08-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100U7DH,, |
| 有価証券報告書－第56期(2022/04/01－2023/03/31) | S100RAPJ | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAPJ,, |
| 有価証券報告書－第55期(令和3年4月1日－令和4年3月31日) | S100OMNF | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OMNF,, |
| 有価証券報告書－第54期(令和2年4月1日－令和3年3月31日) | S100LVU5 | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVU5,, |

## 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).