Gross margin by industry
Gross margin = gross profit ÷ revenue
Revenue minus cost of sales.
Gross margin by industry (median)
Each company is counted once, in its largest industry. Industries with three or more companies. Company-wide figures for companies with revenue of ¥1bn or more that report cost of sales. Financial industries are excluded.
- 1CosmeticsHealthcare & Consumer Goods・26 cos.67.6%Top: Pola Orbis Holdings 81.2%, Shinnihonseiyaku 80.0%, Vitabrid Japan 79.1%
- 2WeddingsConsumer & Public Services・9 cos.66.8%Top: IBJ 92.5%, Kuraudia Holdings 77.8%, Brass 67.6%
- 3Fast Food & Quick ServiceRetail, Trading & Restaurants・22 cos.65.8%Top: TORIDOLL Holdings 75.6%, SAKIGAKE Holdings 70.2%, Chikaranomoto Holdings 69.5%
- 4CafésRetail, Trading & Restaurants・4 cos.65.7%Top: Ginza Renoir 80.9%, Towa Food Service 72.6%, DOUTOR NICHIRES Holdings. 58.9%
- 5Luxury BrandsHealthcare & Consumer Goods・3 cos.65.2%Top: Laxus Technologies 70.3%, Japan Airport Terminal 65.2%, Sekido 24.7%
- 6Restaurants & PubsRetail, Trading & Restaurants・66 cos.65.0%Top: SLD Entertainment 80.6%, Horiifoodservice 74.5%, Balnibarbi 74.4%
- 7Hotels & InnsEntertainment, Media & Leisure・16 cos.64.6%Top: Polaris Holdings 96.0%, Amaze 86.7%, THE Royal Hotel 85.2%
- 8Software & SaaSIT, Telecom & Internet・143 cos.61.6%Top: Toyokumo 95.8%, Cybozu 90.0%, Asteria 89.3%
- 9M&A AdvisoryFinance & Business Services・9 cos.60.2%Top: Batonz 84.7%, YAMADA Consulting Group 76.7%, M&A Capital Partners 63.0%
- 10Biotech & Regenerative MedicineHealthcare & Consumer Goods・6 cos.59.5%Top: Waqoo 79.5%, PeptiDream 73.9%, StemCell Institute 60.9%
- 11Internet Services & AppsIT, Telecom & Internet・48 cos.58.9%Top: i-mobile 99.9%, Cookpad 98.6%, Rebase 96.2%
- 12Travel AgenciesEntertainment, Media & Leisure・9 cos.57.4%Top: Iace Travel 77.2%, Booking Resort 70.2%, Open Door 62.9%
- 13Catalog & TV ShoppingRetail, Trading & Restaurants・10 cos.55.5%Top: Pharma Foods International 80.6%, Ai ROBOTICS 73.4%, Belluna 62.9%
- 14Health TechIT, Telecom & Internet・18 cos.55.4%Top: SMS 88.3%, Gimic 81.9%, eWeLL 78.3%
- 15ApparelRetail, Trading & Restaurants・60 cos.52.4%Top: Nihonwasou Holdings 91.1%, MRK Holdings 75.0%, Tential 72.0%
- 16FuneralsConsumer & Public Services・6 cos.50.8%Top: Nichiryoku 68.2%, A-tie 68.1%, Hasegawa 63.9%
- 17Department StoresRetail, Trading & Restaurants・7 cos.50.8%Top: Isetan Mitsukoshi Holdings 61.7%, Matsuya 54.3%, Daiwa 53.0%
- 18Watches, Jewelry & EyewearHealthcare & Consumer Goods・20 cos.49.9%Top: Japan Eyewear Holdings 78.7%, Jins Holdings 78.0%, Intermestic 76.7%
- 19Shoes & BagsHealthcare & Consumer Goods・9 cos.49.5%Top: Studio Atao 68.1%, Barcos 67.7%, WA 60.8%
- 20Medical DevicesElectronics・39 cos.49.5%Top: 3-D Matrix 78.7%, Immuno-Biological Laboratories 70.4%, Mizuho Medy 69.4%
- 21Telecom CarriersIT, Telecom & Internet・9 cos.48.1%Top: Inbound Platform 75.3%, Benefit Japan 56.9%, Vision 55.6%
- 22StreamingEntertainment, Media & Leisure・7 cos.47.7%Top: jig.jp 93.5%, MTI 74.3%, Moi 50.1%
- 23PharmaceuticalsHealthcare & Consumer Goods・22 cos.47.6%Top: GNI Group 76.4%, JCR Pharmaceuticals 74.9%, Kyowa Kirin 74.2%
- 24CybersecurityIT, Telecom & Internet・29 cos.47.1%Top: Hennge 86.5%, CyberSolutions 78.6%, i3 Systems 77.3%
- 25AdvertisingEntertainment, Media & Leisure・85 cos.46.8%Top: toridori 91.1%, Medix 87.0%, FAN Communications 86.9%
- 26CRO & Clinical TestingHealthcare & Consumer Goods・13 cos.45.4%Top: PhoenixBio 76.7%, Human Metabolome Technologies 61.1%, CellSource 56.2%
- 27GamesEntertainment, Media & Leisure・41 cos.44.9%Top: Nihon Falcom 88.1%, Tokyo Communications Group 77.7%, Mixi 66.3%
- 28Smartphones & Communications EquipmentElectronics・12 cos.44.4%Top: Artiza Networks 61.8%, Allied Telesis Holdings 58.6%, santec Holdings 57.7%
- 29PR & IR ServicesFinance & Business Services・11 cos.44.3%Top: PR Times 84.4%, IR Japan Holdings 79.4%, Enjin 69.1%
- 30E-commerceIT, Telecom & Internet・32 cos.43.6%Top: ZOZO 93.3%, Raccoon Holdings 83.2%, Creema 79.7%
- 31Film & AnimeEntertainment, Media & Leisure・9 cos.43.4%Top: Toei Animation 52.5%, Nakanihon KOGYO 49.3%, Toho 44.2%
- 32ConsultingFinance & Business Services・43 cos.43.4%Top: Writeup 84.4%, Insource 76.9%, Ishin 73.2%
- 33Furniture, Interior & Lifestyle GoodsRetail, Trading & Restaurants・17 cos.42.6%Top: Wagokoro 70.3%, Maruhachi Holdings 65.8%, Wize 59.9%
- 34Car AccessoriesAutomotive & Machinery・15 cos.41.1%Top: Buffalo 55.4%, KeePer Technical Laboratory 48.4%, i.a groupcorporation 45.0%
- 35Robots & Factory AutomationAutomotive & Machinery・34 cos.40.2%Top: Keyence 83.0%, Rigaku Holdings 56.1%, Optex Group 52.1%
- 36Printers & Office EquipmentElectronics・11 cos.40.0%Top: Riso Kagaku 59.8%, Mimaki Engineering 49.2%, Amano 45.5%
- 37Broadband & ISPsIT, Telecom & Internet・9 cos.40.0%Top: Last One Mile 71.1%, IPS 58.1%, Excite Holdings 57.7%
- 38TVs, Audio & Musical InstrumentsElectronics・12 cos.39.9%Top: Leader Electronics 63.5%, TB Group 56.3%, Noritsu Koki 50.1%
- 39Publishing & BookstoresEntertainment, Media & Leisure・19 cos.39.7%Top: AlphaPolis. 74.4%, TO Books 72.2%, OVERLAP Holdings 53.2%
- 40Secondhand RetailRetail, Trading & Restaurants・20 cos.39.7%Top: Hard OFF 68.2%, Arigatou Services 65.7%, Treasure Factory 59.1%
- 41BicyclesAutomotive & Machinery・4 cos.39.7%Top: Asahi 47.7%, Daiwa Cycle 43.6%, Shimano 35.7%
- 42Cameras & OpticsElectronics・7 cos.39.5%Top: Jtec 61.2%, Tamron 44.0%, Nikon 43.6%
- 43Toys & HobbiesHealthcare & Consumer Goods・11 cos.39.3%Top: Sanrio Company 77.3%, THE WHY HOW DO Company 51.4%, People 44.4%
- 44Hospitals & Medical ServicesConsumer & Public Services・8 cos.39.2%Top: Ligua 58.8%, CUC 46.8%, Fureasu 45.7%
- 45HR & StaffingFinance & Business Services・85 cos.38.9%Top: Slogan 98.2%, Atrae 96.7%, Movin' Strategic Career 95.3%
- 46Theme Parks & Leisure FacilitiesEntertainment, Media & Leisure・9 cos.38.7%Top: Izu Shaboten Resort 79.7%, Resorttrust 77.8%, Nippon Ski Resort Development 44.6%
- 47PachinkoEntertainment, Media & Leisure・10 cos.38.6%Top: Sankyo 58.4%, Mars Group Holdings 53.3%, Fujishoji 51.3%
- 48Toiletries & Household ProductsHealthcare & Consumer Goods・10 cos.38.4%Top: Kobayashi Pharmaceutical 51.1%, Lion 45.9%, Earth 41.7%
- 49Alcoholic BeveragesFood & Agriculture・7 cos.37.8%Top: Umenoyado Brewery 56.1%, orion breweries 51.8%, Kirin 47.6%
- 50Outdoor & Sporting Goods StoresRetail, Trading & Restaurants・3 cos.37.7%Top: Alpen 39.5%, Xebio Holdings 37.7%, Himaraya 35.1%
- 51Sporting Goods & FitnessEntertainment, Media & Leisure・20 cos.37.0%Top: SD Entertainment 91.0%, Asics 56.8%, Graphite Design 54.6%
- 52Home & Lifestyle ServicesConsumer & Public Services・10 cos.36.8%Top: Kyokuto 71.7%, Asante 68.6%, NAC Co . 48.2%
- 53PetsConsumer & Public Services・4 cos.35.6%Top: Inuneko-Seikatsu 74.2%, Japan Animal Referral Medical Center 40.5%, Petgo 30.6%
- 54Semiconductor EquipmentElectronics・41 cos.34.6%Top: Disco 70.1%, Advantest 64.3%, Lasertec 59.2%
- 55PCs & PeripheralsElectronics・14 cos.34.0%Top: Hamee 58.6%, Plat'home 43.3%, Elecom 39.6%
- 56Air ConditioningElectronics・11 cos.34.0%Top: Daiwa 56.1%, Kimura Kohki 49.0%, Sinko Industries 38.1%
- 57Broadcasting & NewspapersEntertainment, Media & Leisure・11 cos.33.9%Top: Townnews-Sha 65.6%, Nippon BS Broadcasting 47.6%, Chubu-Nippon Broadcasting 44.5%
- 58Stationery & Office SuppliesHealthcare & Consumer Goods・16 cos.33.7%Top: Hobonichi 57.0%, Pilot 51.0%, Mitsubishi Pencil 49.6%
- 59Beauty SalonsConsumer & Public Services・6 cos.33.4%Top: Artnature 66.8%, AB&Company 47.2%, Convano 39.8%
- 60Home AppliancesElectronics・10 cos.33.0%Top: Nihon Trim. 67.9%, Ya-Man 55.3%, ENDO Lighting 41.0%
- 61EducationConsumer & Public Services・29 cos.33.0%Top: KIYO Learning 83.5%, Bizmates 76.0%, Progrit 74.0%
- 62SemiconductorsElectronics・14 cos.32.8%Top: Renesas 57.1%, THine Electronics 49.3%, Hamamatsu Photonics 47.8%
- 63Cloud & Data CentersIT, Telecom & Internet・5 cos.32.4%Top: GMO Pepabo 54.4%, Link-U Group 47.8%, eole 32.4%
- 64Beverages & DairyFood & Agriculture・20 cos.32.1%Top: Premium Water Holdings 85.8%, Yakult Honsha 58.8%, Lifedrink Company 45.3%
- 65Takeout & Delivery MealsRetail, Trading & Restaurants・16 cos.31.6%Top: OSG 58.8%, Rock Field 57.3%, Watami 55.7%
- 66Home CentersRetail, Trading & Restaurants・10 cos.31.3%Top: Kohnan Shoji 37.0%, DCM Holdings 34.3%, Nafco 34.0%
- 67Electric Power & GasResources, Energy & Materials・32 cos.31.3%Top: Digital Grid 74.4%, Environment Friendly Holdings 57.1%, Hikari Tsushin 49.5%
- 68Semiconductor MaterialsElectronics・24 cos.31.0%Top: JCU 69.5%, Taiyo Holdings 49.0%, Fujimi 45.0%
- 69Processed FoodsFood & Agriculture・60 cos.30.0%Top: Almado 75.3%, Kotobuki Spirits 61.4%, Base Food 56.6%
- 70Machine ToolsAutomotive & Machinery・33 cos.29.9%Top: NS Tool 55.4%, Tone 41.6%, Kikukawa Enterprise 41.1%
- 71Waste Management & RecyclingConsumer & Public Services・25 cos.29.8%Top: RenetJapanGroup 75.2%, Midac Holdings 62.5%, Amita Holdings 44.8%
- 72Disaster Prevention & Infrastructure MaintenanceConstruction & Real Estate・40 cos.29.5%Top: Kozo Keikaku Engineering Holdings 50.3%, Liberaware 47.6%, NEW Cosmos Electric 45.6%
- 73Construction & Farm MachineryAutomotive & Machinery・16 cos.29.5%Top: Yamashin-Filter 43.9%, Giken 38.5%, Yamabiko 33.5%
- 74Tires & RubberAutomotive & Machinery・14 cos.29.3%Top: Poval Kogyo 39.5%, Toyo Tire 39.5%, Bridgestone 38.5%
- 75Business Process OutsourcingFinance & Business Services・20 cos.29.1%Top: Inest 82.4%, Correc Holdings 80.0%, Future Link Network 63.9%
- 76Industrial MachineryAutomotive & Machinery・122 cos.29.1%Top: MAX 49.3%, Nippon Gear 48.6%, Suzumo Machinery 47.8%
- 77Housing Equipment & Building MaterialsConstruction & Real Estate・58 cos.29.0%Top: Takasho 42.4%, Aiphone 42.1%, Tachikawa 41.1%
- 78Real Estate Brokerage & ManagementConstruction & Real Estate・25 cos.28.9%Top: Elitz Holdings 76.3%, Hatch Work 59.1%, CVS Bay Area 48.0%
- 79Music & Live EntertainmentEntertainment, Media & Leisure・3 cos.28.5%Top: Space Shower Skiyaki Holdings 29.8%, Avex 28.5%, NexTone 25.6%
- 80IT Services & System IntegrationIT, Telecom & Internet・196 cos.28.0%Top: Grid 73.4%, Jig-Saw 70.2%, Avilen 69.6%
- 81Events & TicketingEntertainment, Media & Leisure・9 cos.27.6%Top: Boutiques 85.2%, PIA 39.2%, Cerespo 35.3%
- 82SupermarketsRetail, Trading & Restaurants・45 cos.27.4%Top: TAKAYOSHI Holdings 94.2%, Uoki 45.5%, H2O Retailing 45.3%
- 83Electronics RetailersRetail, Trading & Restaurants・14 cos.27.0%Top: Kyoritsu Computer & Communication 41.4%, Plaza Holdings 38.1%, SAKAI Holdings 37.6%
- 84Glass & CeramicsResources, Energy & Materials・17 cos.26.5%Top: Maruwa 52.6%, Nitto Boseki 40.2%, Toyo Tanso 34.1%
- 85Agriculture & SeedsFood & Agriculture・4 cos.26.3%Top: Sakata Seed 63.6%, Hokuto 29.0%, Berg Earth 23.5%
- 86ChemicalsResources, Energy & Materials・100 cos.26.1%Top: MEC Company 62.0%, Green Earth Institute 59.7%, Osaka Yuka Industry 48.5%
- 87Electrical EquipmentAutomotive & Machinery・25 cos.25.5%Top: Kawaden 38.2%, Sukegawa Electric 36.3%, Iwabuchi 33.5%
- 88Drugstores & PharmaciesRetail, Trading & Restaurants・19 cos.25.5%Top: Chukyoiyakuhin 56.6%, Medical System Network 40.7%, Sophia Holdings 36.4%
- 89Paints & InksResources, Energy & Materials・23 cos.25.5%Top: Nippon Paint Holdings 42.3%, Chugoku Marine Paints 33.6%, Soken Chemical & Engineering 33.6%
- 90Real Estate Development & LeasingConstruction & Real Estate・77 cos.25.0%Top: Musashino Kogyo 55.0%, AlbaLink 54.7%, Land Business 47.3%
- 91BatteriesElectronics・8 cos.25.0%Top: TDK 31.3%, Nippon Kodoshi 30.6%, PowerX 27.1%
- 92Cement & ConcreteResources, Energy & Materials・16 cos.24.8%Top: Yamau Holdings 40.7%, ITO Yogyo 33.0%, Vertex 32.1%
- 93Security ServicesConsumer & Public Services・7 cos.24.0%Top: Secure 41.3%, Tosnetcorporation 33.2%, Secom 31.7%
- 94Electronic ComponentsElectronics・56 cos.23.2%Top: Dexerials 56.0%, Kohoku Kogyo 43.6%, NKK Switches. 42.3%
- 95AerospaceAutomotive & Machinery・11 cos.23.1%Top: Terra Drone 48.4%, AeroEdge 46.8%, Nippon Avionics 32.6%
- 96Amusement Centers & KaraokeEntertainment, Media & Leisure・7 cos.23.0%Top: Kyowa 51.8%, Daiichikosho 34.5%, Koshidaka Holdings 26.5%
- 97Oil, Gas & MiningResources, Energy & Materials・8 cos.22.7%Top: Inpex 57.0%, ISE Chemicals 31.6%, K&O Energy Group 23.8%
- 98PrintingEntertainment, Media & Leisure・28 cos.22.5%Top: Asukanet 45.6%, B&P 42.7%, Image Magic 40.4%
- 99Plant Engineering & Building ServicesConstruction & Real Estate・76 cos.21.1%Top: Microwave Chemical 66.8%, Nihon Dengi 47.4%, Azbil 46.7%
- 100ShipbuildingAutomotive & Machinery・9 cos.20.9%Top: Furuno Electric 41.5%, Japan Engine 32.8%, Daihatsu Infinearth MFG. 24.2%
- 101Food PackagingFood & Agriculture・15 cos.20.8%Top: FP 32.6%, Takemoto Yohki 30.1%, Taisei Lamick Group Head Quarter & Innovation 27.2%
- 102Food IngredientsFood & Agriculture・24 cos.20.7%Top: T.hasegawa 41.3%, Riken Vitamin 30.9%, Taiyokagaku 30.5%
- 103Textiles & FibersResources, Energy & Materials・16 cos.20.3%Top: Ichikawa 45.4%, Omikenshi 40.7%, ozu 33.1%
- 104Condominium DevelopersConstruction & Real Estate・24 cos.20.0%Top: Goldcrest 52.1%, Yamachuu 32.1%, Es-Con Japan 29.9%
- 105HomebuildersConstruction & Real Estate・26 cos.19.1%Top: Freesia Macross 53.6%, Nihon House Holdings 45.4%, Azuma House 36.2%
- 106Paper & PulpResources, Energy & Materials・17 cos.18.9%Top: Ohmura Shigyo 27.4%, Imura & 25.9%, THE Pack 24.7%
- 107Trucks & BusesAutomotive & Machinery・4 cos.18.8%Top: Kanematsu Engineering 26.9%, Isuzu 19.1%, Kyokuto Kaihatsu Kogyo 18.5%
- 108FisheriesFood & Agriculture・11 cos.18.6%Top: Uoriki 40.9%, STI Foods Holdings 27.1%, Okamura Foods 21.9%
- 109Car Dealers & Used CarsAutomotive & Machinery・21 cos.18.0%Top: Auto Server 72.0%, USS 62.8%, ArkCore 38.7%
- 110DefenseConsumer & Public Services・5 cos.17.6%Top: Hosoya Pyro-Engineering 31.1%, Tokyo Keiki 28.2%, Howa Machinery 17.6%
- 111Non-ferrous Metals & WiresResources, Energy & Materials・27 cos.17.3%Top: Canare Electric 42.4%, JMC 32.2%, Fujikura 28.1%
- 112Private RailwaysTransport & Logistics・6 cos.17.3%Top: NiigataKotsu 33.2%, Shinki Bus 25.0%, Hokkaido Chuo BUS 17.7%
- 113Oil Refining & FuelsResources, Energy & Materials・13 cos.17.1%Top: BP Castrol 38.3%, Capita 30.2%, sanrin 23.8%
- 114Nursing CareConsumer & Public Services・20 cos.16.8%Top: France BED Holdings 54.7%, Kowa 44.2%, Recovery International 43.4%
- 115ShippingTransport & Logistics・11 cos.16.6%Top: kuribayashi steamship 20.6%, Iino Kaiun Kaisha 18.7%, Hyoki Kaiun Kaisha 18.6%
- 116SteelResources, Energy & Materials・35 cos.16.2%Top: Tokyo Tekko 28.2%, Shinhokoku Material 24.8%, Mory Industries 24.0%
- 117ChildcareConsumer & Public Services・12 cos.16.0%Top: Jp-Holdings 22.1%, Poppins 21.8%, Kyoshin 20.5%
- 118AutomobilesAutomotive & Machinery・8 cos.16.0%Top: Suzuki 25.5%, Toyota 22.8%, Mazda 18.0%
- 119Auto PartsAutomotive & Machinery・111 cos.16.0%Top: HKS 40.3%, Niterra 38.4%, Oiles 35.0%
- 120Trucking & Parcel DeliveryTransport & Logistics・13 cos.15.9%Top: Daisyo 38.7%, Sakai Moving Service 37.7%, Scinex 34.2%
- 121Meat ProcessingFood & Agriculture・12 cos.15.6%Top: Kakiyasu Honten 53.6%, OM2 Network 39.7%, Axyz 30.4%
- 122Warehouses & Logistics FacilitiesTransport & Logistics・16 cos.15.4%Top: Maruhachi Warehouse Company 24.2%, Meiko Trans 21.5%, Sanritsu 21.3%
- 123Specialty Trading & WholesaleRetail, Trading & Restaurants・184 cos.14.9%Top: Ota Floriculture Auction 77.9%, Zaoh Company 47.6%, Nissan Chemical 46.8%
- 124General ContractorsConstruction & Real Estate・92 cos.14.6%Top: Upcon 65.7%, Meiho Facility Works 54.1%, Toyokoh 41.5%
- 125General Trading CompaniesRetail, Trading & Restaurants・7 cos.13.3%Top: Sumitomo Corporation 20.6%, Itochu 16.7%, Marubeni 14.3%
- 126Livestock, Feed & FertilizerFood & Agriculture・6 cos.12.6%Top: Hokuryo 31.9%, Katakura & Co-op Agri 15.2%, Hayashikane Sangyo 13.5%