Industry map/Automotive & Machinery
Construction & Farm Machinery industry map
Who earns the money in Construction & Farm Machinery, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 30 companies · ¥10.3T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥10.3T
- Companies
- 30
- Avg. salary（parent only）
- ¥7M
- Industry weather
- Cloudy
YoY +1.2%
Avg. age 41.5
Operating income -16.7%
Komatsu[6301]
- Revenue
- ¥4.13T▲0.7%
- Operating income
- —
Avg. salary ¥9M · 41.7（parent only）
Kubota[6326]
Machinery
- Revenue
- ¥2.63T▼0.3%
- Operating income
- ¥253.6B▼21.6%
Margin 9.6%
Whole company: Revenue ¥3.02T · Net income ¥186.7B
Avg. salary ¥8.6M · 39.9（parent only）
- Hitachi Construction Machinery・Supply/OEM
Hitachi Construction Machinery[6305]
Construction machinery business + 1 more
- Revenue
- ¥1.41T▲2.5%
- Operating income
- ¥130.1B▼15.9%
Margin 9.3%
Whole company: Revenue ¥1.41T · Net income ¥73.2B
Avg. salary ¥7.7M · 41.1（parent only）
- Kubota・Supply/OEM
Kobe Steel[5406]
Construction Machinery
- Revenue
- ¥389.5B▲0.4%
- Operating income
- ¥12.4B▼34.2%
Margin 3.2%
Whole company: Revenue ¥2.44T · Net income ¥93.7B
Avg. salary ¥8.3M · 40.1（parent only）
Sumitomo Heavy Industries[6302]
Logistics and Construction
- Revenue
- ¥388.9B▼0.9%
- Operating income
- ¥14B▼44.6%
Margin 3.6%
Whole company: Revenue ¥1.07T · Net income ¥30.9B
Avg. salary ¥8.6M · 43.5（parent only）
Takeuchi MFG.[6432]
United States of America + 4 more
- Revenue
- ¥225.3B▲5.7%
- Operating income
- ¥40.2B▼14.2%
Margin 17.8%
Whole company: Revenue ¥225.3B · Net income ¥28.3B
Avg. salary ¥6.9M · 36.6（parent only）
Topy Industries[7231]
Automobile and Industrial Machinery Components Business
- Revenue
- ¥201.6B▲5.7%
- Operating income
- ¥10.9B▲145.5%
Margin 5.4%
Whole company: Revenue ¥297.8B · Net income ¥10.2B
Avg. salary ¥7.2M · 41.7（parent only）
Iseki&[6310]
- Revenue
- ¥185.8B▲10.3%
- Operating income
- ¥4.22B▲120.1%
Margin 2.3%
Avg. salary ¥6.5M · 45.5（parent only）
Yamabiko[6250]
Small outdoor operating machine + 1 more
- Revenue
- ¥156.1B▲6.8%
- Operating income
- ¥28.5B▲0.2%
Margin 18.3%
Whole company: Revenue ¥174B · Net income ¥14.4B
Avg. salary ¥8.1M · 44.1（parent only）
Nabtesco[6268]
Component Solutions
- Revenue
- ¥79.3B▲17.3%
- Operating income
- ¥5.42B▲103.2%
Margin 6.8%
Whole company: Revenue ¥307.9B · Net income ¥15.7B
Avg. salary ¥7.2M · 42.6（parent only）
Furukawa[5715]
Rockdrill Machinery + 1 more
- Revenue
- ¥66B▲3.0%
- Operating income
- ¥4.12B▲9.3%
Margin 6.2%
Whole company: Revenue ¥211.1B · Net income ¥12.8B
Avg. salary ¥8.5M · 46.0（parent only）
Aichi[6345]
Specially-equipped vehicle + 1 more
- Revenue
- ¥58.7B▼0.0%
- Operating income
- —
Whole company: Revenue ¥59.6B · Net income ¥6.66B
Avg. salary ¥6.9M · 44.4（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Kato Works · Airman · INFRONEER Holdings · Nikko · Press Kogyo · Maruyama MFG. · Sakai Heavy Industries · Okada Aiyon · Alinco · Nippon Sharyo · Kitagawa · Yamashin-Filter · Giken · Shibuya · Takakita · Rasa Industries · Nippon Beet Sugar Manufacturing · Taiyo Kisokogyo
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Industry takeaways
AI summary (figures come from filings)
- Komatsu alone books ¥4.13T, or 40% of the listed total.
- Only Kubota's machinery arm (¥2.63T) and Hitachi Construction Machinery (¥1.41T) are anywhere near that size; number four, Kobe Steel's construction machinery segment, is ¥389.5B.
- The best margins belong to mid-sized players such as Yamabiko at 18.3% and Takeuchi at 17.8%, not the giants.
- While the leaders were roughly flat, Iseki grew +10.3%.
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Komatsu | ¥4.13T | 40.0% | — | +10.2% | — |
| 2 | KubotaMachinery | ¥2.63T | 25.4% | 9.7% | +9.0% | ¥142B |
| 3 | Hitachi Construction MachineryConstruction machinery business + 1 more | ¥1.41T | 13.6% | 9.3% | +10.8% | ¥115.2B |
| 4▲1 | Kobe SteelConstruction Machinery | ¥389.5B | 3.8% | 3.2% | +1.2% | ¥77.2B |
| 5▼1 | Sumitomo Heavy IndustriesLogistics and Construction | ¥388.9B | 3.8% | 3.6% | +3.3% | ¥11.3B |
| 6 | Takeuchi MFG.United States of America + 4 more | ¥225.3B | 2.2% | 17.8% | +12.4% | ¥19.6B |
| 7 | Topy IndustriesAutomobile and Industrial Machinery Components Business | ¥201.6B | 1.9% | 5.4% | — | ¥2.97B |
| 8 | Iseki& | ¥185.8B | 1.8% | 2.3% | +4.1% | ¥16.9B |
| 9 | YamabikoSmall outdoor operating machine + 1 more | ¥156.1B | 1.5% | 18.3% | +5.8% | ¥4.5B |
| 10 | NabtescoComponent Solutions | ¥79.3B | 0.8% | 6.8% | -13.0% | ¥16.8B |
| 11 | FurukawaRockdrill Machinery + 1 more | ¥66B | 0.6% | 6.3% | +2.7% | -¥1.46B |
| 12 | AichiSpecially-equipped vehicle + 1 more | ¥58.7B | 0.6% | — | +1.3% | -¥4.12B |
| 13 | Kato WorksJapan + 1 more | ¥55.2B | 0.5% | -4.5% | +1.5% | -¥1.19B |
| 14 | Airmanconstruction machinery business | ¥44.6B | 0.4% | 15.8% | +11.2% | -¥3.74B |
| 15 | INFRONEER HoldingsMachinery | ¥39.5B | 0.4% | — | +2.8% | ¥143.3B |
| 16 | NikkoAsphalt related business + 2 more | ¥36.1B | 0.3% | 8.6% | +5.5% | ¥588M |
| 17▲1 | Press KogyoConstruction machinery | ¥32.7B | 0.3% | 2.9% | +0.3% | ¥4.56B |
| 18▼1 | Maruyama MFG.Agricultural and foresty machinery | ¥32B | 0.3% | 4.1% | — | -¥7M |
| 19 | Sakai Heavy IndustriesJapan + 3 more | ¥27.5B | 0.3% | 5.6% | +0.9% | ¥259.6M |
| 20 | Okada AiyonDomestic + 1 more | ¥27B | 0.3% | 8.4% | +7.4% | -¥3.59B |
| 21 | AlincoConstruction machinery | ¥24.7B | 0.2% | 8.0% | +5.5% | -¥549.9M |
| 22 | Nippon SharyoConstruction Equipment | ¥22B | 0.2% | 17.9% | +2.2% | ¥4.46B |
| 23▲1 | KitagawaKitagawa Sun Tech Company | ¥22B | 0.2% | 12.8% | +0.8% | -¥1.41B |
| 24▲1 | Yamashin-FilterConstraction filter segment | ¥18.7B | 0.2% | 14.5% | +3.5% | ¥1.68B |
| 25▼2 | GikenConstruction Machinery | ¥17.7B | 0.2% | 22.0% | -2.0% | -¥425M |
| 26 | ShibuyaAGRICULTURAL DIV. | ¥11.2B | 0.1% | 9.3% | -5.3% | ¥2.09B |
| 27 | Takakitaagricultural machines section | ¥6.13B | 0.1% | 5.0% | -1.9% | -¥28.9M |
| 28 | Rasa IndustriesMachinery | ¥4.2B | 0.0% | 9.7% | — | ¥1.78B |
| 29 | Nippon Beet Sugar ManufacturingAgricultural materials | ¥3.99B | 0.0% | 6.8% | -1.5% | ¥1.04B |
| 30 | Taiyo KisokogyoMachine manufacturing and sales business | ¥7.3M | 0.0% | 37.5% | +3.5% | ¥525.7M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- Takeuchi MFG.75817
- Aichi78913
- Airman731413
- Nippon Sharyo80812
- Yamashin-Filter563212
- Yamabiko672211
- Shibuya80911
- Giken612910
- Kubota71209
- Hitachi Construction Machinery71209
- Okada Aiyon71218
- Nabtesco70237
- INFRONEER Holdings8587
- Press Kogyo8587
- Nikko6925
- Sakai Heavy Industries7222
- Kobe Steel8411
- Sumitomo Heavy Industries7520
- Furukawa8510
- Kitagawa8312
- Topy Industries8413
- Maruyama MFG.7423
- Alinco7423
- Iseki&7028
- Kato Works9014loss ¥4
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- 東海旅客鉄道株式会社Outside
- SubsidiaryNippon Sharyo50.9%
- StakeNabtesco4.4%
- 伊藤忠商事株式会社Outside
- AffiliateAichi27.3%
- 日本製鉄株式会社Outside
- AffiliateTopy Industries22.0%
- 株式会社日立製作所Outside
- StakeHitachi Construction Machinery18.4%
- いすゞ自動車株式会社Outside
- StakePress Kogyo10.4%
- 明治ホールディングス㈱Outside
- StakeNippon Beet Sugar Manufacturing8.2%
- KubotaIn industry
- StakeTakakita5.8%
- 株式会社RS TechnologiesOutside
- StakeRasa Industries5.1%
- 株式会社南都銀行Outside
- StakeTakakita4.9%
- 株式会社千葉興業銀行Outside
- StakeMaruyama MFG.4.1%
- 株式会社四国銀行Outside
- StakeGiken4.0%
- StakeTakeuchi MFG.3.9%
- 極東開発工業株式会社Outside
- StakeOkada Aiyon3.7%
- ファナック株式会社Outside
- StakeNabtesco3.2%
- 日本エコシステム㈱Outside
- StakeTaiyo Kisokogyo3.1%
- 瀧上工業㈱Outside
- StakeTaiyo Kisokogyo3.1%
- ㈱三東工業社Outside
- StakeTaiyo Kisokogyo3.0%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Construction & Farm Machinery (by revenue)
All 30 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Komatsu¥4.13T
- Kubota¥2.63T · 9.7%
- Hitachi Construction Machinery¥1.41T · 9.3%
- Kobe Steel¥389.5B · 3.2%
- Sumitomo Heavy Industries¥388.9B · 3.6%
- Takeuchi MFG.¥225.3B · 17.8%
- Topy Industries¥201.6B · 5.4%
- Iseki&¥185.8B · 2.3%
- Yamabiko¥156.1B · 18.3%
- Nabtesco¥79.3B · 6.8%
- Furukawa¥66B · 6.3%
- Aichi¥58.7B
- Kato Works¥55.2B · -4.5%
- Airman¥44.6B · 15.8%
- INFRONEER Holdings¥39.5B
- Nikko¥36.1B · 8.6%
- Press Kogyo¥32.7B · 2.9%
- Maruyama MFG.¥32B · 4.1%
- Sakai Heavy Industries¥27.5B · 5.6%
- Okada Aiyon¥27B · 8.4%
- Alinco¥24.7B · 8.0%
- Nippon Sharyo¥22B · 17.9%
- Kitagawa¥22B · 12.8%
- Yamashin-Filter¥18.7B · 14.5%
- Giken¥17.7B · 22.0%
- Shibuya¥12.6B · 4.1%
- Takakita¥6.13B · 5.0%
- Rasa Industries¥4.2B · 9.7%
- Nippon Beet Sugar Manufacturing¥3.99B · 6.8%
- Taiyo Kisokogyo¥7.3M · 37.5%
Revenue · Op. margin
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