# Unozawa-gumi Iron Works,Limited: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第134期(2025/04/01－2026/03/31) (S100YF8O)
> Page: https://vizora.meequs.com/en/company/unozawa-gumi-iron-works
> Retrieved: 2026-09-30T21:16:57.197Z

## Company

Unozawa-gumi Iron Works, founded in 1933, is a company in Real Estate Development & Leasing listed on TSE Standard. It has 162 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Unozawa-gumi Iron Works, Limited |
| Ticker | 6396 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6396.T) |
| Listing | TSE Standard |
| Head office | 東京都渋谷区恵比寿一丁目19番15号同所は登記上の本店所在地で実際の業務は下記最寄りの連絡場所で行っております。 |
| Representative (per filing) | 代表取締役社長 樋口勉 |
| Founded | Dec 1933 |
| Share capital | ¥785M |
| Employees (consolidated) | 162 |
| Average salary (parent only) | ¥6.4M |
| Fiscal year end | March |
| Website | www.unozawa.co.jp (https://www.unozawa.co.jp/) |
| Corporate number | 4011001003103 |
| EDINET | E01635 |
| Industries (Vizora) | Real Estate Development & Leasing, Industrial Machinery |

> Profile source: annual securities report (S100YF8O, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 29.5 | 110 |
| Profitability | 70.9 | 122 |
| Cash conversion | 34.9 | 116 |
| Efficiency | 17.6 | 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 87% of Unozawa-gumi Iron Works's sales come from Manufacturing, with Real estate making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed -0.7% from the prior year, operating profit -5.3%.

## Company structure

- Segment revenue mix: Manufacturing 87.0%、Real estate 13.0%
- Revenue → net income: ¥4917526000 → ¥433634000
- Net income → operating cash flow: ¥433634000 → ¥440275000（difference ¥6641000）
- Main uses of operating cash flow: CapEx ¥537301000 / dividends ¥54902000 / buybacks —
- Change in cash: ¥-171750000
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 | ¥4.92B |  |
| Operating income | ¥562.6M | Margin 11.4% |
| Net income | ¥433.6M | Margin 8.8% |
| Free cash flow | -¥97M |  |
| Largest business | Manufacturing | of segment revenue 87.0% |
| Employees (consolidated) | 162 |  |
| EPS | ¥392.65 |  |
| Book value per share | ¥3439.84 |  |
| Equity ratio | 45.3% |  |
| Shares outstanding | 1,120,000 |  |
| Treasury shares | 15,600 |  |
| Shareholders | 533 |  |
| Average salary (parent only) | ¥6.4M | Filing company only |
| Cash ratio | 32.3% | Cash ÷ revenue 55.1% |
| Vs. industry median margin | +3.9 pp | Industrial Machinery |
| ROE | 13.3% | Derived from disclosed figures |
| ROA | 5.2% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 85% of positive segment profit
- FY2026, segment profit share differs by -72 points
- FY2026, cash is 32% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4042277000 | ¥4917526000 | +21.7% |
| Operating income | ¥225947000 | ¥562620000 | +149.0% |
| Operating margin | 5.6% | 11.4% | +5.9 pp |
| Employees | 182 people | 162 people | -11.0% |
| Cash and equivalents | ¥2285160000 | ¥2711293000 | +18.6% |

### 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 |
| --- | ---: |
| 製造事業 → 製造事業 | 83.6% |
| 不動産事業 → 不動産事業 | 13.0% |
| 不動産事業 → 事業再編・廃止 | 3.4% |
| 新設・再編 → 製造事業 | 3.4% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,918 | 100.0% | S100YF8O |
| Cost of revenue | 3,739 | 76.0% | S100YF8O |
| Gross profit | 1,178 | 24.0% | S100YF8O |
| SG&A | 616 | 12.5% | S100YF8O |
| Operating income | 563 | 11.4% | S100YF8O |
| Ordinary income | 608 | 12.4% | S100YF8O |
| Pretax income | 664 | 13.5% | S100YF8O |
| Income tax | 231 | 4.7% | S100YF8O |
| Net income | 434 | 8.8% | S100YF8O |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 13 |
| Operating income | 11 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 24.0% → Operating margin 11.4% → Net margin 8.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -0.7%; Core profit growth: -5.3%
Operating leverage (core profit growth ÷ revenue growth): 7.14×
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 | 4,955 | 4,918 | -37 | -0.7% |
| Gross profit | 1,190 | 1,178 | -12 | -1.0% |
| Operating income | 594 | 563 | -32 | -5.3% |
| Operating cash flow | 762 | 440 | -321 | -42.2% |
| Free cash flow | 490 | -97 | -587 | -119.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 4,586 | 69 | 1.5% | 48 | 337 | 164 | S100LPIX |
| FY ending Mar 2021 | 4,042 | 226 | 5.6% | 146 | 452 | 245 | S100OHUF |
| FY ending Mar 2022 | 4,381 | 256 | 5.8% | 163 | 509 | 390 | S100R4TA |
| FY ending Mar 2023 | 5,105 | 445 | 8.7% | 353 | 458 | -26 | S100TSGI |
| FY ending Mar 2024 | 5,517 | 636 | 11.5% | 424 | 445 | 327 | S100W3TZ |
| FY ending Mar 2025 | 4,955 | 594 | 12.0% | 397 | 762 | 490 | S100YF8O |
| FY ending Mar 2026 | 4,918 | 563 | 11.4% | 434 | 440 | -97 | S100YF8O |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥30.4M |
| Operating income per employee (consolidated) | ¥3.5M |
| Net income per employee (consolidated) | ¥2.7M |

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) | 180 | 177 | 170 | 169 | 162 |
| Average salary (parent company) | ¥5.4M | ¥5.6M | ¥5.8M | ¥6.1M | ¥6.4M |
| Average age (parent company) | 44.9 years | 44.8 years | 44.8 years | 45.8 years | 46.7 years |
| Average tenure (parent company) | 17.7 years | 17.7 years | 17.7 years | 18.3 years | 19.7 years |

Year over year: Employees (consolidated) -4.1% · Revenue (consolidated) -0.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Manufacturing | 4,280 | 87.0% | 87 | 2.0% |
| Real estate | 638 | 13.0% | 476 | 74.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Manufacturing | 87.0% | 15.5% | -71.6 | 2.0% |
| Real estate | 13.0% | 84.5% | 71.6 | 74.6% |

Segment → industry: Real estate → Real Estate Development & Leasing / Manufacturing → Industrial Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 440 | 9.0% | S100YF8O |
| Capital expenditure | 537 | 10.9% | S100YF8O |
| Free cash flow | -97 | -2.0% | 算出 |
| Investing cash flow | -447 | -9.1% | S100YF8O |
| Financing cash flow | -165 | -3.4% | S100YF8O |
| Dividends paid | 55 | 1.1% | S100YF8O |
| Change in cash | -172 | -3.5% | S100YF8O |
| Cash and equivalents | 2,711 | 55.1% | S100YF8O |

## 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 | 2,555 | 2,406 | 2,546 | 2,883 | 2,711 | S100TSGI, S100W3TZ, S100YF8O |
| Total assets | 7,368 | 7,888 | 8,789 | 8,424 | 8,394 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Net assets | 2,208 | 2,534 | 3,075 | 3,357 | 3,799 | S100TSGI, S100W3TZ, S100YF8O |
| Share capital | 785 | 785 | 785 | 785 | 785 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Property, plant and equipment | 2,055 | 2,339 | 2,392 | 2,350 | 2,632 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Intangible assets excluding goodwill | 50 | 30 | 20 | 26 | 23 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Investment securities | 301 | 310 | 559 | 479 | 566 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Current assets | 4,897 | 5,144 | 5,760 | 5,512 | 5,110 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Current liabilities | 2,208 | 2,429 | 2,865 | 2,205 | 1,691 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Long-term borrowings | 1,655 | 1,678 | 1,510 | 1,497 | 1,431 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Total liabilities | 5,160 | 5,354 | 5,713 | 5,067 | 4,595 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Equity attributable to owners of parent | 2,048 | 2,368 | 2,736 | 3,078 | 3,456 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Retained earnings | 989 | 1,309 | 1,678 | 2,019 | 2,398 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |
| Treasury stock | -30 | -30 | -30 | -30 | -30 | S100R4TA, S100TSGI, S100W3TZ, S100YF8O |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 32% | S100YF8O |
| Property, plant and equipment | 32% | S100YF8O |
| Intangibles and goodwill | 0% | S100YF8O |
| Investment securities | 7% | S100YF8O |
| Other assets | 29% | S100YF8O |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 55% | S100YF8O |
| Equity | 45% | S100YF8O |
| Other liabilities | 0% | S100YF8O |

### 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 | 7,368 | 7,888 | 8,789 | 8,424 | 8,394 |
| Equity | 2,208 | 2,534 | 3,075 | 3,357 | 3,799 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,555 | 2,406 | 2,546 | 2,883 | 2,711 |

## 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) | 53.5% | S100YF8O |
| Fixed assets ÷ total assets | 31.4% | S100YF8O |
| Goodwill ÷ parent equity | — | —, S100YF8O |

### 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) | 32.3% |
| Cash ÷ revenue | 55.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 78.3% |
| Cash vs. profit gap | 7 JPY mn (of net income 1.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 12.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 10.9% |
| Investing CF relative to operating CF | 101.5% |

## 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 | 3.7% | 0.59× | 2.2% | 3.60× | 7.9% | S100R4TA |
| 2023 | 6.9% | 0.67× | 4.6% | 3.45× | 16.0% | S100TSGI |
| 2024 | 7.7% | 0.66× | 5.1% | 3.27× | 16.6% | S100W3TZ |
| 2025 | 8.0% | 0.58× | 4.6% | 2.96× | 13.7% | S100YF8O |
| 2026 | 8.8% | 0.58× | 5.2% | 2.57× | 13.3% | S100YF8O |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ㈱ウノザワコーポレーション | Major shareholder | 34.0% | 2026-03-31 |
| 大田 昭彦 | Major shareholder | 12.0% | 2026-03-31 |
| (公財)樫の芽会 | Major shareholder | 9.0% | 2026-03-31 |
| 東急不動産㈱ | Major shareholder | 9.0% | 2026-03-31 |
| 宇野澤 虎雄 | Major shareholder | 4.6% | 2026-03-31 |
| 立花証券㈱ | Major shareholder | 1.9% | 2026-03-31 |
| INTERACTIVE BROKERS LLC（常任代理人 インタラクティブ・ブローカーズ証券㈱） | Major shareholder | 1.6% | 2026-03-31 |
| 吉岡 裕之 | Major shareholder | 1.1% | 2026-03-31 |
| 石井 剛文 | Major shareholder | 1.0% | 2026-03-31 |
| 三和機械㈱ | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第134期(2025/04/01－2026/03/31) | S100YF8O | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF8O,, |
| 有価証券報告書－第133期(2024/04/01－2025/03/31) | S100W3TZ | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3TZ,, |
| 有価証券報告書－第132期(2023/04/01－2024/03/31) | S100TSGI | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSGI,, |
| 有価証券報告書－第131期(2022/04/01－2023/03/31) | S100R4TA | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4TA,, |
| 有価証券報告書－第130期(令和3年4月1日－令和4年3月31日) | S100OHUF | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHUF,, |
| 有価証券報告書－第129期(令和2年4月1日－令和3年3月31日) | S100LPIX | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPIX,, |

## 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).