# Yokota Manufacturing Co., Ltd.: 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73期(2025/04/01－2026/03/31) (S100YETX)
> Page: https://vizora.meequs.com/en/company/yokota-manufacturing
> Retrieved: 2026-09-30T21:47:15.605Z

## Company

Yokota Manufacturing, founded in 1953, is a company in Industrial Machinery listed on TSE Standard. It has 80 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Yokota Manufacturing Co., Ltd. |
| Ticker | 6248 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6248.T) |
| Listing | TSE Standard |
| Head office | 広島県広島市中区南吉島一丁目3番6号 |
| Representative (per filing) | 代表取締役社長 横田義之 |
| Founded | May 1953 |
| Share capital | ¥130.6M |
| Employees (consolidated) | 80 |
| Average salary (parent only) | ¥7M |
| Fiscal year end | March |
| Website | www.aquadevice.com (https://www.aquadevice.com/) |
| Corporate number | 4240001012215 |
| EDINET | E27530 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YETX, filed 2026-06-26). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 32.3 | 110 |
| Profitability | 95.5 | 122 |
| Cash conversion | 38.4 | 116 |
| Efficiency | 25 | 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)

- Yokota Manufacturing brought in ¥2.31B in revenue.
- Out of every ¥100 of sales, about ¥20 is left as operating profit.
- Revenue changed +1.4% from the prior year, operating profit +3.2%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥2308504000 → ¥338667000
- Net income → operating cash flow: ¥338667000 → ¥391934000（difference ¥53267000）
- Main uses of operating cash flow: CapEx ¥80158000 / dividends ¥139287000 / buybacks ¥19124000
- Change in cash: ¥-79519000
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 | ¥2.31B |  |
| Operating income | ¥470.4M | Margin 20.4% |
| Net income | ¥338.7M | Margin 14.7% |
| Free cash flow | ¥311.8M |  |
| Employees (consolidated) | 80 |  |
| EPS | ¥182.56 |  |
| Book value per share | ¥1680.91 |  |
| Equity ratio | 84.5% |  |
| Shares outstanding | 1,873,500 |  |
| Treasury shares | 5,900 |  |
| Shareholders | 1,189 |  |
| Average salary (parent only) | ¥7M | Filing company only |
| Cash ratio | 47.7% | Cash ÷ revenue 76.2% |
| Vs. industry median margin | +12.8 pp | Industrial Machinery |
| ROE | 11.2% | Derived from disclosed figures |
| ROA | 9.3% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 48% of total assets
- FY2026, parent-company salary changed +24% over five years
- FY2026, employees -1% while operating income rose 3%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1829186000 | ¥2308504000 | +26.2% |
| Operating income | ¥269799000 | ¥470400000 | +74.4% |
| Operating margin | 14.7% | 20.4% | +5.6 pp |
| Employees | 81 people | 80 people | -1.2% |
| Cash and equivalents | ¥1420718000 | ¥1759662000 | +23.9% |

### 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, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,309 | 100.0% | S100YETX |
| Cost of revenue | 1,206 | 52.2% | 算出 |
| Gross profit | 1,102 | 47.8% | S100YETX |
| SG&A | 632 | 27.4% | S100YETX |
| Operating income | 470 | 20.4% | S100YETX |
| Ordinary income | 476 | 20.6% | S100YETX |
| Pretax income | 476 | 20.6% | S100YETX |
| Income tax | 137 | 5.9% | S100YETX |
| Net income | 339 | 14.7% | S100YETX |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 52 |
| SG&A | 28 |
| Operating income | 20 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 47.8% → Operating margin 20.4% → Net margin 14.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.4%; Core profit growth: +3.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.28×
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 | 2,277 | 2,309 | 32 | +1.4% |
| Gross profit | 1,089 | 1,102 | 14 | +1.3% |
| Operating income | 456 | 470 | 14 | +3.2% |
| Operating cash flow | 462 | 392 | -70 | -15.1% |
| Free cash flow | 381 | 312 | -69 | -18.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,734 | 248 | 14.3% | 177 | 185 | 138 | S100LJNX |
| FY ending Mar 2021 | 1,829 | 270 | 14.7% | 195 | 252 | 212 | S100OAWD |
| FY ending Mar 2022 | 1,727 | 235 | 13.6% | 163 | 179 | 126 | S100R0OB |
| FY ending Mar 2023 | 1,777 | 252 | 14.2% | 168 | 150 | 51 | S100TOX4 |
| FY ending Mar 2024 | 2,050 | 365 | 17.8% | 272 | 290 | 233 | S100VZ6G |
| FY ending Mar 2025 | 2,277 | 456 | 20.0% | 319 | 462 | 381 | S100YETX |
| FY ending Mar 2026 | 2,309 | 470 | 20.4% | 339 | 392 | 312 | S100YETX |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥28.9M |
| Operating income per employee (consolidated) | ¥5.9M |
| Net income per employee (consolidated) | ¥4.2M |

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) | 78 | 77 | 78 | 81 | 80 |
| Average salary (parent company) | ¥5.6M | ¥6M | ¥6.5M | ¥7M | ¥7M |
| Average age (parent company) | 41.2 years | 42.1 years | 42.7 years | 43.0 years | 42.5 years |
| Average tenure (parent company) | 10.8 years | 11.7 years | 12.3 years | 12.3 years | 12.5 years |

Year over year: Employees (consolidated) -1.2% · Revenue (consolidated) +1.4%

## 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 | 392 | 17.0% | S100YETX |
| Capital expenditure | 80 | 3.5% | S100YETX |
| Free cash flow | 312 | 13.5% | 算出 |
| Investing cash flow | -331 | -14.3% | S100YETX |
| Financing cash flow | -140 | -6.1% | S100YETX |
| Dividends paid | 139 | 6.0% | S100YETX |
| Share buyback | 19 | 0.8% | S100YETX |
| Change in cash | -80 | -3.4% | S100YETX |
| Cash and equivalents | 1,760 | 76.2% | S100YETX |

## 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 | 1,466 | 1,436 | 1,552 | 1,839 | 1,760 | S100TOX4, S100VZ6G, S100YETX |
| Total assets | 2,866 | 3,056 | 3,278 | 3,626 | 3,692 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Net assets | 2,448 | 2,536 | 2,692 | 2,919 | 3,118 | S100TOX4, S100VZ6G, S100YETX |
| Share capital | 131 | 131 | 131 | 131 | 131 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Property, plant and equipment | 540 | 562 | 557 | 596 | 606 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Intangible assets excluding goodwill | 2 | 53 | 58 | 59 | 43 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Investment securities | — | — | — | — | 250 | S100YETX |
| Current assets | 2,214 | 2,320 | 2,524 | 2,817 | 2,655 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Current liabilities | 295 | 379 | 478 | 593 | 451 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Total liabilities | 419 | 521 | 585 | 707 | 574 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Equity attributable to owners of parent | 2,448 | 2,536 | 2,692 | 2,919 | 3,118 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Retained earnings | 2,195 | 2,283 | 2,461 | 2,688 | 2,887 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |
| Treasury stock | -0 | -0 | -22 | -22 | -26 | S100R0OB, S100TOX4, S100VZ6G, S100YETX |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 48% | S100YETX |
| Property, plant and equipment | 16% | S100YETX |
| Intangibles and goodwill | 1% | S100YETX |
| Investment securities | 7% | S100YETX |
| Other assets | 28% | S100YETX |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 16% | S100YETX |
| Equity | 84% | S100YETX |
| Other liabilities | 0% | S100YETX |

### 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 | 2,866 | 3,056 | 3,278 | 3,626 | 3,692 |
| Equity | 2,448 | 2,536 | 2,692 | 2,919 | 3,118 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,466 | 1,436 | 1,552 | 1,839 | 1,760 |

## 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) | 26.2% | S100YETX |
| Fixed assets ÷ total assets | 16.4% | S100YETX |
| Goodwill ÷ parent equity | — | —, S100YETX |

### 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) | 47.7% |
| Cash ÷ revenue | 76.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 83.3% |
| Cash vs. profit gap | 53 JPY mn (of net income 15.7%) |
| Shareholder returns / net income | 46.8% |
| Shareholder returns / FCF | 50.8% |
| Shareholder payments — dividends / net income | 41.1% |
| Shareholder payments — dividends / FCF | 44.7% |
| CapEx intensity (capex ÷ revenue) | 3.5% |
| Investing CF relative to operating CF | 84.5% |

## 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 | 9.4% | 0.60× | 5.7% | 1.17× | 6.7% | S100R0OB |
| 2023 | 9.5% | 0.60× | 5.7% | 1.19× | 6.8% | S100TOX4 |
| 2024 | 13.3% | 0.65× | 8.6% | 1.21× | 10.4% | S100VZ6G |
| 2025 | 14.0% | 0.66× | 9.3% | 1.23× | 11.4% | S100YETX |
| 2026 | 14.7% | 0.63× | 9.3% | 1.21× | 11.2% | S100YETX |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 一般社団法人ヨコタ | Major shareholder | 32.8% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 6.4% | 2026-03-31 |
| 広島信用金庫 | Major shareholder | 6.4% | 2026-03-31 |
| 横 田 征 子 | Major shareholder | 5.8% | 2026-03-31 |
| 横田製作所従業員持株会 | Major shareholder | 5.4% | 2026-03-31 |
| 新 海 秀 治 | Major shareholder | 3.0% | 2026-03-31 |
| 石 田 勇 | Major shareholder | 2.4% | 2026-03-31 |
| 三 浦 治 子 | Major shareholder | 2.1% | 2026-03-31 |
| 田 中 尚 子 | Major shareholder | 2.1% | 2026-03-31 |
| 大地みらい信用金庫 | Major shareholder | 1.2% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第73期(2025/04/01－2026/03/31) | S100YETX | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YETX,, |
| 有価証券報告書－第72期(2024/04/01－2025/03/31) | S100VZ6G | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ6G,, |
| 有価証券報告書－第71期(2023/04/01－2024/03/31) | S100TOX4 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TOX4,, |
| 有価証券報告書－第70期(2022/04/01－2023/03/31) | S100R0OB | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0OB,, |
| 有価証券報告書－第69期(令和3年4月1日－令和4年3月31日) | S100OAWD | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OAWD,, |
| 有価証券報告書－第68期(令和2年4月1日－令和3年3月31日) | S100LJNX | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LJNX,, |

## 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).