# Sanwa Holdings vs Toto

> Unit: JPY millions (ratios in %)
> Periods: Sanwa Holdings = FY ending Mar 2026, consolidated, J-GAAP / Toto = FY ending Mar 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T22:28:01.433Z

| Metric | Sanwa Holdings | Toto |
| --- | ---: | ---: |
| Revenue | 660,712 | 737,441 |
| Operating income | 79,095 | 53,759 |
| Net income | 59,776 | 40,257 |
| COGS ratio | 66.9% | 64.4% |
| Operating margin | 12.0% | 7.3% |
| Net margin | 9.0% | 5.5% |
| FCF margin | 7.1% | 3.8% |
| Period | FY ending Mar 2026 | FY ending Mar 2026 |
| Source | S100YFHH | S100YC72 |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | Sanwa Holdings | Toto |
| --- | ---: | ---: |
| Revenue growth | 97.3 (56 peers) | 67 (56 peers) |
| Profitability | 97.4 (58 peers) | 73.3 (58 peers) |
| Cash conversion | 29 (50 peers) | 61 (50 peers) |
| Efficiency | 90.5 (58 peers) | 64.7 (58 peers) |
| Financial strength | 93.8 (8 peers) | — |

## Company details

- https://vizora.meequs.com/en/company/sanwa-holdings/md
- https://vizora.meequs.com/en/company/toto/md

## 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).