# WAIDA MFG.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97期(2025/04/01－2026/03/31) (S100YI25)
> Page: https://vizora.meequs.com/en/company/waida-mfg
> Retrieved: 2026-09-30T19:50:38.607Z

## Company

Waida MFG., founded in 1946, is a company in Machine Tools listed on TSE Standard. It has 198 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | WAIDA MFG.CO.,LTD. |
| Ticker | 6158 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6158.T) |
| Listing | TSE Standard |
| Head office | 岐阜県高山市片野町2121番地 |
| Representative (per filing) | 代表取締役会長兼社長 和井田 光生 |
| Founded | Oct 1946 |
| Share capital | ¥843.3M |
| Employees (consolidated) | 198 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.waida.co.jp (https://www.waida.co.jp/) |
| Corporate number | 2200001025263 |
| EDINET | E01511 |
| Industries (Vizora) | Machine Tools |

> Profile source: annual securities report (S100YI25, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 80.9 | 34 |
| Profitability | 25 | 34 |
| Cash conversion | 95.2 | 31 |
| Efficiency | 30.9 | 34 |

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)

- Waida MFG. brought in ¥6.66B in revenue.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed -11.8% from the prior year, operating profit -64.1%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥6659190000 → ¥260907000
- Net income → operating cash flow: ¥260907000 → ¥742801000（difference ¥481894000）
- Main uses of operating cash flow: CapEx ¥238011000 / dividends ¥227973000 / buybacks —
- Change in cash: ¥-132032000
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 | ¥6.66B |  |
| Operating income | ¥254.8M | Margin 3.8% |
| Net income | ¥275.9M | Margin 4.1% |
| Free cash flow | ¥504.8M |  |
| Employees (consolidated) | 198 |  |
| EPS | ¥44.93 |  |
| Book value per share | ¥1604.13 |  |
| Equity ratio | 84.3% |  |
| Shares outstanding | 7,028,000 |  |
| Treasury shares | 505,600 |  |
| Shareholders | 3,348 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 34.6% | Cash ÷ revenue 65.2% |
| Vs. industry median margin | -3.3 pp | Machine Tools |
| ROE | 2.7% | Derived from disclosed figures |
| ROA | 2.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.7× net income
- FY2026, cash is 35% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4206558000 | ¥6659190000 | +58.3% |
| Operating income | ¥286002000 | ¥254821000 | -10.9% |
| Operating margin | 6.8% | 3.8% | -3 pp |
| Employees | 165 people | 198 people | +20.0% |
| Cash and equivalents | ¥4692155000 | ¥4340238000 | -7.5% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,659 | 100.0% | S100YI25 |
| Cost of revenue | 4,158 | 62.4% | S100YI25 |
| Gross profit | 2,501 | 37.6% | S100YI25 |
| SG&A | 2,247 | 33.7% | S100YI25 |
| Operating income | 255 | 3.8% | S100YI25 |
| Ordinary income | 356 | 5.3% | S100YI25 |
| Pretax income | 353 | 5.3% | S100YI25 |
| Income tax | 92 | 1.4% | S100YI25 |
| Net income | 261 | 3.9% | S100YI25 |
| Net income attributable to owners | 276 | 4.1% | S100YI25 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 62 |
| SG&A | 34 |
| Operating income | 4 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 37.6% → Operating margin 3.8% → Net margin 4.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -11.8%; Core profit growth: -64.1%
Operating leverage (core profit growth ÷ revenue growth): 5.41×
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 | 7,554 | 6,659 | -895 | -11.8% |
| Gross profit | 2,969 | 2,501 | -468 | -15.8% |
| Operating income | 709 | 255 | -455 | -64.1% |
| Net income attributable to owners | 435 | 276 | -159 | -36.6% |
| Operating cash flow | 918 | 743 | -175 | -19.1% |
| Free cash flow | 516 | 505 | -11 | -2.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 7,858 | 1,730 | 22.0% | 1,157 | 1,794 | 1,609 | S100LLKO |
| FY ending Mar 2021 | 4,207 | 286 | 6.8% | 222 | -311 | -419 | S100PV5K |
| FY ending Mar 2022 | 6,485 | 981 | 15.1% | 694 | 1,337 | 1,188 | S100R6J8 |
| FY ending Mar 2023 | 7,581 | 1,156 | 15.2% | 868 | -283 | -1,029 | S100TSOV |
| FY ending Mar 2024 | 7,539 | 969 | 12.9% | 727 | 1,135 | 803 | S100W43N |
| FY ending Mar 2025 | 7,554 | 709 | 9.4% | 435 | 918 | 516 | S100YI25 |
| FY ending Mar 2026 | 6,659 | 255 | 3.8% | 276 | 743 | 505 | S100YI25 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥33.6M |
| Operating income per employee (consolidated) | ¥1.3M |
| Net income per employee (consolidated) | ¥1.4M |

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) | 165 | 177 | 186 | 196 | 198 |
| Average salary (parent company) | ¥5.7M | ¥6.3M | ¥6.6M | ¥6.3M | ¥6M |
| Average age (parent company) | 42.6 years | 43.1 years | 42.9 years | 42.7 years | 42.7 years |
| Average tenure (parent company) | 16.7 years | 16.6 years | 16.5 years | 16.3 years | 16.0 years |

Year over year: Employees (consolidated) +1.0% · Revenue (consolidated) -11.8%

## 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 | 743 | 11.2% | S100YI25 |
| Capital expenditure | 238 | 3.6% | S100YI25 |
| Free cash flow | 505 | 7.6% | 算出 |
| Investing cash flow | -440 | -6.6% | S100YI25 |
| Financing cash flow | -466 | -7.0% | S100YI25 |
| Dividends paid | 228 | 3.4% | S100YI25 |
| Change in cash | -132 | -2.0% | S100YI25 |
| Cash and equivalents | 4,340 | 65.2% | S100YI25 |

## 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 | 5,603 | 3,634 | 3,998 | 4,472 | 4,340 | S100TSOV, S100W43N, S100YI25 |
| Total assets | 11,922 | 11,699 | 12,148 | 12,603 | 12,536 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Net assets | 8,795 | 9,512 | 10,157 | 10,356 | 10,647 | S100TSOV, S100W43N, S100YI25 |
| Share capital | 843 | 843 | 843 | 843 | 843 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Property, plant and equipment | 2,246 | 2,654 | 2,692 | 2,682 | 2,678 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Intangible assets excluding goodwill | 44 | 71 | 286 | 536 | 505 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Investment securities | 240 | 267 | 410 | 410 | 704 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Current assets | 9,222 | 8,521 | 8,612 | 8,795 | 8,557 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Current liabilities | 2,166 | 1,495 | 1,453 | 1,479 | 1,257 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Trade payables | 674 | 552 | 417 | 390 | 383 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Short-term borrowings | 250 | — | — | 50 | 60 | S100R6J8, S100YI25 |
| Long-term borrowings | 666 | 396 | 130 | 364 | 211 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Total liabilities | 3,127 | 2,186 | 1,991 | 2,247 | 1,889 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Non-controlling interests | 77 | 85 | 99 | 89 | 79 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Equity attributable to owners of parent | 8,643 | 9,321 | 9,807 | 10,026 | 10,082 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Retained earnings | 7,302 | 7,963 | 8,431 | 8,632 | 8,674 | S100R6J8, S100TSOV, S100W43N, S100YI25 |
| Treasury stock | -390 | -379 | -367 | -355 | -343 | S100R6J8, S100TSOV, S100W43N, S100YI25 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 35% | S100YI25 |
| Property, plant and equipment | 21% | S100YI25 |
| Intangibles and goodwill | 4% | S100YI25 |
| Investment securities | 6% | S100YI25 |
| Other assets | 34% | S100YI25 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YI25 |
| Other liabilities | 12% | S100YI25 |
| Equity | 85% | S100YI25 |
| Other liabilities | 0% | S100YI25 |

### 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 | 11,922 | 11,699 | 12,148 | 12,603 | 12,536 |
| Equity | 8,795 | 9,512 | 10,157 | 10,356 | 10,647 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,603 | 3,634 | 3,998 | 4,472 | 4,340 |

## 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) | 40.2% | S100YI25 |
| Fixed assets ÷ total assets | 21.4% | S100YI25 |
| Goodwill ÷ parent equity | — | —, S100YI25 |

### 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) | 34.6% |
| Cash ÷ revenue | 65.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 291.5% |
| Cash vs. profit gap | 467 JPY mn (of net income 169.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 82.6% |
| Shareholder payments — dividends / FCF | 45.2% |
| CapEx intensity (capex ÷ revenue) | 3.6% |
| Investing CF relative to operating CF | 59.3% |

## 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 | 10.7% | 0.54× | 5.8% | 1.38× | 8.0% | S100R6J8 |
| 2023 | 11.5% | 0.64× | 7.4% | 1.31× | 9.7% | S100TSOV |
| 2024 | 9.6% | 0.63× | 6.1% | 1.25× | 7.6% | S100W43N |
| 2025 | 5.8% | 0.61× | 3.5% | 1.25× | 4.4% | S100YI25 |
| 2026 | 4.1% | 0.53× | 2.2% | 1.25× | 2.7% | S100YI25 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 和井田 光生 | Major shareholder | 6.7% | 2026-03-31 |
| 和井田 俶生 | Major shareholder | 5.0% | 2026-03-31 |
| 株式会社十六銀行 | Major shareholder | 4.9% | 2026-03-31 |
| 株式会社三菱UFJ銀行 | Major shareholder | 3.9% | 2026-03-31 |
| 合同会社センス | Major shareholder | 3.3% | 2026-03-31 |
| 和井田製作所従業員持株会 | Major shareholder | 3.3% | 2026-03-31 |
| 和井田 叔子 | Major shareholder | 2.6% | 2026-03-31 |
| CACEIS BK ES IICS CLIENTS（常任代理人 香港上海銀行東京支店） | Major shareholder | 2.5% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.9% | 2026-03-31 |
| 和井田 克子 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第97期(2025/04/01－2026/03/31) | S100YI25 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI25,, |
| 有価証券報告書－第96期(2024/04/01－2025/03/31) | S100W43N | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W43N,, |
| 有価証券報告書－第95期(2023/04/01－2024/03/31) | S100TSOV | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSOV,, |
| 有価証券報告書－第94期(2022/04/01－2023/03/31) | S100R6J8 | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6J8,, |
| 訂正有価証券報告書－第93期(令和3年4月1日－令和4年3月31日) | S100PV5K | 2022-12-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PV5K,, |
| 有価証券報告書－第92期(令和2年4月1日－令和3年3月31日) | S100LLKO | 2021-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLKO,, |

## 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).