Ano Kaisha no Shikumi
Search
Menu

MASARU

MASARU CORPORATION

Company highlights

The largest segment by revenue is Construction work, at 86.1% of the total.

Key figures

Period Oct 2024 to Sep 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥10.6B
Operating marginCalculated 6.0%
Net assets to total assetsCalculated 59.9%

Company profile

Securities code 1795 / EDINET code E00254 / Construction / Fiscal year end September 30

江東区佐賀一丁目９番１４号／Capital stock ¥885 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
勝又 健 Representative
3 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Oct 2024 to Sep 2025) · filed 2025-12-24

Profitability ★★★☆☆position among all companies 6.0%
Growth (revenue, 4-year average) ★★★★☆position among all companies 8.1%
Capital efficiency ★★★☆☆position among all companies 7.9%

Business activities and revenue composition

MASARU

Revenue and profit by business segment

Period Oct 2024 to Sep 2025Source Annual securities reportsConsolidated・Disclosed

SalesProfit Constructio…Construction work Sales 86.1% 86% Profit 89.2% 89% Equipment i…Equipment installation Sales 13.9% 14% Profit 10.8% 11%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
Construction work ¥9.2 billion 86.1% ¥8.1 billion ¥0.6 billion 89.2% 6.2% ¥0.4 billion
Equipment installation ¥1.5 billion 13.9% ¥0.9 billion ¥69.06 million 10.8% 4.7% ¥33.08 million
Total of the businesses ¥10.6 billion100.0% ¥0.6 billion 100.0%

Revenue and profit

Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Employees' salaries and allowances ¥0.5 billion Consolidated
Employee payrolls and allowances ¥0.5 billion Parent only
Other ¥0.3 billion Parent only
Directors' compensations ¥0.2 billion Consolidated
Provision for bonuses ¥0.2 billion Consolidated
Legal welfare expenses ¥0.1 billion Consolidated
Amortization of goodwill ¥87.50 million Consolidated
Provision for directors' bonuses ¥69.12 million Consolidated
Research and development expenses ¥32.97 million Consolidated
Retirement benefit expenses ¥29.35 million Consolidated
Depreciation ¥27.03 million Consolidated
Provision of allowance for doubtful accounts ¥-0.14 million Parent only
Profit by stage Ordinary income ¥0.7 billion Consolidated
Operating income ¥0.6 billion Consolidated
Net income ¥0.4 billion Consolidated

MASARU

Selling, general and administrative expenses

Period Oct 2024 to Sep 2025Source Annual securities reports

Employees' salaries and allowances ¥0.5 billion (29.4%)29%Employee payrolls and allowances ¥0.5 billion (27.2%)27%Other ¥0.3 billion (16.1%)16%Directors' compensations ¥0.2 billion (10.2%)10%Provision for bonuses ¥0.2 billion (10.2%)10%Legal welfare expenses ¥0.1 billion (6.9%)7%¥1.8B
  • Employees' salaries and allowances　¥0.5 billion
  • Employee payrolls and allowances　¥0.5 billion
  • Other　¥0.3 billion
  • Directors' compensations　¥0.2 billion
  • Provision for bonuses　¥0.2 billion
  • Legal welfare expenses　¥0.1 billion

Performance, financial position and capital allocation

Finance
59.9% Net assets to total assets Industry median 56.5% FY ending 9/2025 · consolidated / calculated
4.6% Return on assets (ROA)
¥5,932.43 Net assets per share
¥1.2 billion Free cash flow
¥8.8 billion Total assets
¥0.3 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
193.9% Cash conversion Industry median 77.2% FY ending 9/2025 · consolidated / calculated
71.9% Property, plant and equipment purchases relative to depreciation ★★★☆☆ position among all companies FY ending 9/2025 · consolidated / calculated
8.9% Return to shareholders ★☆☆☆☆ position among all companies FY ending 9/2025 · consolidated / calculated
3.1% Investment securities to net assets ★★☆☆☆ position among all companies FY ending 9/2025 · consolidated / calculated

Long-term changes in performance

Period 2012 to 2025Disclosed

Revenue ×1.06 from 2012 to 2025

MASARU

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
11 8 4 0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2013　Net sales year on year -23.0% 2015　Net sales year on year +203.2%, Ordinary income (loss) as a share of revenue +3.5 points 2020　Net sales year on year +25.4% 2021　Net sales year on year -31.7% 2022　Ordinary income (loss) as a share of revenue -2.0 points 2023　Net sales year on year +24.1%, Ordinary income (loss) as a share of revenue +2.7 points 11Latest value 2025 11¥ billion 11Highest in the period shown 2020 11¥ billion 3Lowest in the period shown 2014 3¥ billion ¥ billion

MASARU

Recent performance trends

Source Annual securities reports

11 7 4 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2012 to 2025Disclosed

Item20212022202320242025
Net sales ¥7.8B ¥7.0B ¥8.6B ¥8.9B ¥10.6B
Year on year (%) -31.7%◆ -10.7% +24.1%◆ +3.6% +19.0%
Ordinary income (loss) ¥0.4B ¥0.2B ¥0.5B ¥0.4B ¥0.7B
Change from prior year -34.9% -44.3% +124.1% -19.3% +56.4%
Ordinary income (loss) as a share of Net sales 5.4% 3.3% 6.0% 4.7% 6.2%
Change (percentage points) -0.3 points -2.0 points◆ +2.7 points◆ -1.3 points +1.5 points

Fiscal periods marked for changes

Earlier fiscal periods (3)
  • 2013Net sales year on year -23.0%
  • 2015Net sales year on year +203.2%, Ordinary income (loss) as a share of revenue +3.5 points
  • 2020Net sales year on year +25.4%
  • 2021Net sales year on year -31.7%
  • 2022Ordinary income (loss) as a share of revenue -2.0 points
  • 2023Net sales year on year +24.1%, Ordinary income (loss) as a share of revenue +2.7 points

MASARU

Earnings and net assets per share over time

Unit yenSource Annual securities reports

456 304 152 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 5,932 3,955 1,977 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

MASARU

Return on equity over time

Unit %Source Annual securities reports

8 5 3 -0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥7.8 billion ¥7.0 billion ¥8.6 billion ¥8.9 billion ¥10.6 billion
Ordinary income (loss) ¥0.4 billion ¥0.2 billion ¥0.5 billion ¥0.4 billion ¥0.7 billion
Net income (loss) attributable to owners of parent ¥0.3 billion ¥0.2 billion ¥0.3 billion ¥0.3 billion ¥0.4 billion
Comprehensive income ¥0.3 billion ¥0.2 billion ¥0.4 billion ¥0.3 billion ¥0.4 billion
Net assets ¥4.4 billion ¥4.5 billion ¥4.8 billion ¥4.9 billion ¥5.3 billion
Total assets ¥7.4 billion ¥6.5 billion ¥7.5 billion ¥8.4 billion ¥8.8 billion
Net assets per share 5,010.23 yen 5,079.89 yen 5,394.8 yen 5,575.54 yen 5,932.43 yen
Basic earnings (loss) per share 369.24 yen 218.58 yen 391.73 yen 313.54 yen 455.94 yen
Equity-to-asset ratio 59.0% 68.0% 63.1% 58.9% 59.9%
Return on equity 7.5% 4.3% 7.5% 5.7% 7.9%
Net cash provided by (used in) operating activities ¥22.32 million ¥-0.3 billion ¥0.2 billion ¥0.4 billion ¥1.2 billion
Net cash provided by (used in) investing activities ¥7.09 million ¥0.2 billion ¥-95.69 million ¥-0.5 billion ¥9.53 million
Net cash provided by (used in) financing activities ¥-0.2 billion ¥-0.4 billion ¥-68.70 million ¥0.5 billion ¥-0.2 billion
Cash and cash equivalents ¥2.2 billion ¥1.8 billion ¥1.9 billion ¥2.3 billion ¥3.3 billion
Parent only indicators (13 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥6.9 billion ¥6.2 billion ¥7.7 billion ¥8.0 billion ¥9.1 billion
Ordinary income (loss) ¥0.3 billion ¥0.2 billion ¥0.5 billion ¥0.4 billion ¥0.6 billion
Net income (loss) ¥0.2 billion ¥0.2 billion ¥0.3 billion ¥0.3 billion ¥0.4 billion
Capital stock ¥0.9 billion ¥0.9 billion ¥0.9 billion ¥0.9 billion ¥0.9 billion
Total number of issued shares (common stock) 901,151 shares 901,151 shares 901,151 shares 901,151 shares 901,151 shares
Net assets ¥4.1 billion ¥4.1 billion ¥4.4 billion ¥4.6 billion ¥4.9 billion
Total assets ¥6.8 billion ¥6.1 billion ¥6.8 billion ¥6.9 billion ¥7.2 billion
Net assets per share 4,698.16 yen 4,729.29 yen 5,000.04 yen 5,215.6 yen 5,545.55 yen
Dividend per share 125 yen 80 yen 140 yen 125 yen 160 yen
Basic earnings (loss) per share 254.81 yen 178.6 yen 345.7 yen 346.26 yen 427.54 yen
Equity-to-asset ratio 60.7% 67.8% 64.6% 66.8% 68.6%
Return on equity 5.5% 3.8% 7.1% 6.8% 8.0%
Payout ratio 49.1% 44.8% 40.5% 36.1% 37.4%

Dividend history

Source: reporting company’s key figures, annual securities reports · 13 years (2013 to 2025)Parent-onlyDisclosed

1 periods Consecutive increases (own definition) through FY ending 9/2025
7 periods Consecutive periods with dividends (site definition) through FY ending 9/2025
+28.0% Dividend growth (year on year)
+0.0% Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 9/2025 ¥160 Could not be retrieved 37.4%
FY ending 9/2024 ¥125 Could not be retrieved 36.1%
FY ending 9/2023 ¥140 Could not be retrieved 40.5%
FY ending 9/2022 ¥80 Could not be retrieved 44.8%
FY ending 9/2021 ¥125 Could not be retrieved 49.1%
FY ending 9/2020 ¥160 Could not be retrieved 37.3%
FY ending 9/2019 ¥145 Could not be retrieved 44.3%
FY ending 9/2018 ¥100 Could not be retrieved 43.6% Stock split or share consolidation noted
FY ending 9/2017 ¥16 Could not be retrieved 45.8%
FY ending 9/2016 ¥22 Could not be retrieved 26.8%
FY ending 9/2015 ¥10 Could not be retrieved 28.0%
FY ending 9/2014 ¥2 Could not be retrieved Could not be retrieved Fiscal year was not 12 months, Fiscal year was not 12 months
FY ending 3/2013 ¥4 Could not be retrieved 14.6%

MASARU

Dividends per share over time

Unit yenSource Annual securities reports

160 107 53 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2025-09-30Disclosed

Share ownership by holder category

1,028 Shareholders
0.09% Foreign holders (total) Industry median 7.37%
60.11% Individuals and others Industry median 40.72%

MASARU

Unit %Source Annual securities reports

  • Financial institutions4.94%
  • Securities firms0.51%
  • Other corporations34.35%
  • Foreign holders (institutions)0.09%
  • Individuals and others60.11%

Major shareholders

RankShareholderShareholding ratioShares held
1 株式会社操上 16.3% 145,000
2 マサル協力企業持株会 5.15% 45,000
3 化研マテリアル株式会社 4.84% 43,000
4 マサル従業員持株会 2.99% 26,000
5 苅谷 純 2.98% 26,000
6 野口興産株式会社 2.97% 26,000
7 日本生命保険相互会社 2.9% 25,000
8 株式会社苅谷 2.8% 24,000
9 勝又 健 2.28% 20,000
10 シーカ・ジャパン株式会社 1.83% 16,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2020 to 2025)Disclosed

¥32.97 million Research and development 0.3% of revenue (industry median 0.3%)
Not disclosed Capital expenditure
Fiscal year Research and development Capital expenditure
FY ending 9/2025 ¥32.97 million Could not be retrieved
FY ending 9/2020 ¥22.70 million ¥2.67 million

Revenue scale in the same industry

MASARU

Source Annual securities reports of each company

Construction: 150 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

Workforce information

Source: Annual Securities Report (Oct 2024 to Sep 2025)Parent-onlyDisclosed

137 Employees (parent only) Industry median 738
45.2 Average age Industry median 43.5
12.1 years Average length of service Industry median 15.7 years
¥6.63 million Average annual salary Industry median ¥8.02 million
People and organisation
62.3¥ million Sales per employee Industry median 69.2¥ million FY ending 9/2025 · consolidated / calculated
¥3.73 million Operating income per employee

Audit and disclosure information

Annual securities report, year ended 2025-09-30Disclosed

ItemValue
Audit firm Ｍｏｏｒｅみらい監査法人
Audit fees (this year, total) ¥27.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Cannot be determined
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (27 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥0.4 billion Consolidated
Net cash provided by (used in) operating activities ¥1.2 billion Consolidated
Net sales ¥10.6 billion Consolidated
Net cash provided by (used in) investing activities ¥9.53 million Consolidated
Cash and cash equivalents ¥3.3 billion Consolidated
Net assets ¥5.3 billion Consolidated
Ordinary income (loss) ¥0.7 billion Consolidated
Total assets ¥8.8 billion Consolidated
Return on equity 7.9% Consolidated
Equity-to-asset ratio 59.9% Consolidated
Net income (loss) attributable to owners of parent ¥0.4 billion Consolidated
Net cash provided by (used in) financing activities ¥-0.2 billion Consolidated
Basic earnings (loss) per share 455.94 yen Consolidated
Net assets per share 5,932.43 yen Consolidated
Dividend per share 160 yen Parent only
Net sales ¥9.1 billion Parent only
Net income (loss) ¥0.4 billion Parent only
Total number of issued shares (common stock) 901,151 shares Parent only
Net assets ¥4.9 billion Parent only
Ordinary income (loss) ¥0.6 billion Parent only
Total assets ¥7.2 billion Parent only
Return on equity 8.0% Parent only
Equity-to-asset ratio 68.6% Parent only
Capital stock ¥0.9 billion Parent only
Payout ratio 37.4% Parent only
Basic earnings (loss) per share 427.54 yen Parent only
Net assets per share 5,545.55 yen Parent only

Employees (8 items)

ItemValueConsolidated / Non-consolidated
Number of employees 171 people Consolidated
Number of employees 171 people Consolidated
Average length of service (years) 12.1 years Parent only
Average annual salary ¥6.63 million Parent only
Average age (years) 45.2 years old Parent only
Number of employees 137 people Parent only
Number of employees 137 people Parent only
Number of employees 137 people Parent only

Shares (12 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 400,000 shares Consolidated
Total number of shares held treasury shares etc 11,500 shares Consolidated
Number of issues whose number of shares increased shares other than those not listed investment shares held for purposes other than pure investment reporting company 1 issues Consolidated
Total acquisition cost for increased shares shares other than those not listed investment shares held for purposes other than pure investment reporting company ¥1.25 million Consolidated
Number of shares 901,151 shares Consolidated
Shareholding ratio treasury shares etc 1.3% Consolidated
Shareholding ratio 45.1% Consolidated
Number of shares held in own name treasury shares etc 11,500 shares Consolidated
Number of voting rights 8,877 units Consolidated
Carrying amount on the balance sheet ¥0.2 billion Consolidated
Number of issues 2 issues Consolidated
Total shareholder return 133.8% Parent only

Other disclosed items (5 items)

ItemValueConsolidated / Non-consolidated
Net sales to external customers ¥10.6 billion Consolidated
Increase in property plant and equipment and intangible assets ¥43.59 million Consolidated
Depreciation ¥30.07 million Consolidated
Number of consolidated subsidiaries 3 companies Consolidated
Total return on the share price index 217.8% Parent only

Research and development (1 items)

ItemValueConsolidated / Non-consolidated
Research and development expenses ¥32.97 million Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥27.00 million Consolidated
Fees for audit and attestation services - total ¥27.00 million Consolidated

Balance sheet (146 items)

ItemValueConsolidated / Non-consolidated
Other ¥40.23 million Consolidated
Other ¥0.5 billion Consolidated
Other ¥36.00 million Consolidated
Other ¥0.2 billion Consolidated
Other ¥0.2 billion Consolidated
Valuation difference on available-for-sale securities ¥44.22 million Consolidated
Other, net ¥16.54 million Consolidated
Goodwill ¥0.3 billion Consolidated
Goodwill ¥0.3 billion Consolidated
Software ¥5.75 million Consolidated
Lease obligations ¥18.15 million Consolidated
Lease obligations ¥5.76 million Consolidated
Lease assets ¥23.83 million Consolidated
Lease assets ¥5.22 million Consolidated
Lease assets, net ¥18.23 million Consolidated
Retained earnings ¥3.1 billion Consolidated
Notes receivable - trade ¥24.10 million Consolidated
Non-current liabilities ¥0.7 billion Consolidated
Non-current assets ¥2.3 billion Consolidated
Land ¥0.5 billion Consolidated
Contract liabilities ¥0.8 billion Consolidated
Contract assets ¥0.5 billion Consolidated
Accounts receivable from completed construction contracts ¥1.2 billion Consolidated
Provision for warranties for completed construction ¥7.35 million Consolidated
Allowance for construction loss ¥57.72 million Consolidated
Buildings ¥0.8 billion Consolidated
Buildings, net ¥0.6 billion Consolidated
Provision for directors' bonuses ¥69.12 million Consolidated
Investments and other assets ¥0.7 billion Consolidated
Investment securities ¥0.2 billion Consolidated
Notes payable accounts payable for construction contracts cns ¥0.6 billion Consolidated
Property, plant and equipment ¥1.2 billion Consolidated
Costs on uncompleted construction contracts ¥0.9 billion Consolidated
Income taxes payable ¥0.2 billion Consolidated
Accrued consumption taxes ¥0.1 billion Consolidated
Raw materials and supplies ¥12.17 million Consolidated
Shareholders' equity ¥5.2 billion Consolidated
Machinery and equipment ¥20.50 million Consolidated
Machinery and equipment, net ¥0.58 million Consolidated
Current liabilities ¥2.8 billion Consolidated
Current assets ¥6.6 billion Consolidated
Accumulated depreciation ¥-19.46 million Consolidated
Accumulated depreciation ¥-5.60 million Consolidated
Accumulated depreciation ¥-0.2 billion Consolidated
Accumulated depreciation ¥-19.92 million Consolidated
Accumulated depreciation ¥-13.58 million Consolidated
Intangible assets ¥0.3 billion Consolidated
Cash and cash equivalents ¥3.3 billion Consolidated
Cash and deposits ¥3.4 billion Consolidated
Bonds payable ¥0.5 billion Consolidated
Net assets ¥5.3 billion Consolidated
Net assets ¥5.3 billion Consolidated
Total assets ¥8.8 billion Consolidated
Total assets ¥8.8 billion Consolidated
Deferred tax assets ¥0.2 billion Consolidated
Treasury stock ¥-34.12 million Consolidated
Valuation and translation adjustments ¥44.22 million Consolidated
Liabilities ¥3.5 billion Consolidated
Liabilities ¥3.5 billion Consolidated
Liabilities and net assets ¥8.8 billion Consolidated
Allowance for doubtful accounts ¥-72.35 million Consolidated
Allowance for doubtful accounts ¥-1.02 million Consolidated
Capital surplus ¥1.3 billion Consolidated
Capital stock ¥0.9 billion Consolidated
Provision for bonuses ¥0.3 billion Consolidated
Vehicle and delivery equipment ¥14.21 million Consolidated
Vehicles, net ¥0.63 million Consolidated
Long-term loans payable ¥0.1 billion Consolidated
Electronically recorded obligations - operating ¥0.2 billion Consolidated
Electronically recorded monetary claims - operating ¥0.3 billion Consolidated
Current portion of bonds payable ¥96.00 million Consolidated
Current portion of long-term loans payable ¥0.3 billion Consolidated
Other ¥30.34 million Parent only
Other ¥21.98 million Parent only
Other ¥0.2 billion Parent only
Valuation difference on available-for-sale securities ¥44.22 million Parent only
Other capital surplus ¥8.38 million Parent only
Software ¥4.07 million Parent only
Lease obligations ¥14.51 million Parent only
Lease obligations ¥4.98 million Parent only
Lease assets ¥19.58 million Parent only
Lease assets ¥5.22 million Parent only
Lease assets, net ¥14.28 million Parent only
Membership ¥0.1 billion Parent only
Life insurance funds ¥0.3 billion Parent only
Investments in capital ¥1.42 million Parent only
General reserve ¥0.3 billion Parent only
Retained earnings ¥2.8 billion Parent only
Legal retained earnings ¥93.00 million Parent only
Prepaid expenses ¥5.94 million Parent only
Notes receivable - trade ¥24.10 million Parent only
Non-current liabilities ¥0.1 billion Parent only
Non-current assets ¥1.9 billion Parent only
Land ¥0.4 billion Parent only
Contract liabilities ¥0.6 billion Parent only
Contract assets ¥0.5 billion Parent only
Accounts receivable from completed construction contracts ¥1.2 billion Parent only
Provision for warranties for completed construction ¥7.35 million Parent only
Allowance for construction loss ¥57.72 million Parent only
Accounts payable for construction contracts ¥0.5 billion Parent only
Tools, furniture and fixtures ¥27.69 million Parent only
Tools, furniture and fixtures ¥12.50 million Parent only
Buildings ¥0.7 billion Parent only
Buildings, net ¥0.6 billion Parent only
Provision for directors' bonuses ¥50.66 million Parent only
Investments and other assets ¥0.9 billion Parent only
Investment securities ¥0.2 billion Parent only
Property, plant and equipment ¥1.0 billion Parent only
Costs on uncompleted construction contracts ¥0.9 billion Parent only
Income taxes payable ¥0.1 billion Parent only
Accrued consumption taxes ¥82.22 million Parent only
Accrued expenses ¥32.78 million Parent only
Accounts payable - other ¥53.89 million Parent only
Shareholders' equity ¥4.9 billion Parent only
Machinery and equipment ¥3.86 million Parent only
Machinery and equipment, net ¥0.24 million Parent only
Current liabilities ¥2.1 billion Parent only
Current assets ¥5.3 billion Parent only
Accumulated depreciation ¥-5.30 million Parent only
Accumulated depreciation ¥-15.20 million Parent only
Accumulated depreciation ¥-96.14 million Parent only
Accumulated depreciation ¥-3.62 million Parent only
Intangible assets ¥9.29 million Parent only
Cash and deposits ¥2.1 billion Parent only
Net assets ¥4.9 billion Parent only
Net assets ¥4.9 billion Parent only
Total assets ¥7.2 billion Parent only
Deferred tax assets ¥0.1 billion Parent only
Retained earnings brought forward ¥2.4 billion Parent only
Treasury stock ¥-34.12 million Parent only
Valuation and translation adjustments ¥44.22 million Parent only
Liabilities ¥2.3 billion Parent only
Liabilities and net assets ¥7.2 billion Parent only
Allowance for doubtful accounts ¥-72.35 million Parent only
Allowance for doubtful accounts ¥-1.02 million Parent only
Capital surplus ¥1.3 billion Parent only
Legal capital surplus ¥1.3 billion Parent only
Capital stock ¥0.9 billion Parent only
Provision for bonuses ¥0.2 billion Parent only
Long-term loans payable ¥65.52 million Parent only
Long term accounts payable other ¥40.23 million Parent only
Shares of subsidiaries and associates ¥0.3 billion Parent only
Electronically recorded obligations - operating ¥0.2 billion Parent only
Electronically recorded monetary claims - operating ¥0.3 billion Parent only
Deposits received ¥40.17 million Parent only
Current portion of long-term loans payable ¥0.2 billion Parent only

Statement of income (84 items)

ItemValueConsolidated / Non-consolidated
Other ¥7.16 million Consolidated
Other ¥0.45 million Consolidated
Other comprehensive income ¥29.32 million Consolidated
Valuation difference on available for sale securities net of tax ¥29.32 million Consolidated
Amortization of goodwill ¥87.50 million Consolidated
Amortization of goodwill ¥87.50 million Consolidated
Amortization of goodwill ¥87.50 million Consolidated
Cancellation refund ¥5.99 million Consolidated
Dividends from surplus ¥-0.1 billion Consolidated
Comprehensive income ¥0.4 billion Consolidated
Interest income ¥0.86 million Consolidated
Rent income ¥4.53 million Consolidated
Dividend income ¥1.80 million Consolidated
Operating income ¥0.6 billion Consolidated
Operating income ¥0.6 billion Consolidated
Non-operating income ¥32.05 million Consolidated
Non-operating expenses ¥11.65 million Consolidated
Net cash provided by (used in) operating activities ¥1.2 billion Consolidated
Net sales ¥10.6 billion Consolidated
Cost of sales of completed construction contracts cns ¥8.4 billion Consolidated
Gross profit on completed construction contracts cns ¥2.2 billion Consolidated
Net sales of completed construction contracts ¥10.6 billion Consolidated
Net income ¥0.4 billion Consolidated
Net income ¥0.4 billion Consolidated
Net income (loss) ¥0.4 billion Consolidated
Net income (loss) ¥0.4 billion Consolidated
Directors' compensations ¥0.2 billion Consolidated
Provision for directors' bonuses ¥69.12 million Consolidated
Employees' salaries and allowances ¥0.5 billion Consolidated
Technical advisory fee ¥11.70 million Consolidated
Net cash provided by (used in) investing activities ¥9.53 million Consolidated
Interest expenses ¥11.20 million Consolidated
Income taxes - current ¥0.3 billion Consolidated
Income taxes ¥0.2 billion Consolidated
Income taxes - deferred ¥-37.62 million Consolidated
Legal welfare expenses ¥0.1 billion Consolidated
Depreciation ¥27.03 million Consolidated
Extraordinary loss ¥39.65 million Consolidated
Extraordinary loss ¥39.65 million Consolidated
Net increase (decrease) in cash and cash equivalents ¥1.0 billion Consolidated
Research and development expenses ¥32.97 million Consolidated
Income (loss) before income taxes ¥0.6 billion Consolidated
Income (loss) before income taxes ¥0.6 billion Consolidated
Ordinary income ¥0.7 billion Consolidated
Disposal of treasury stock ¥13.68 million Consolidated
Purchase of treasury stock ¥-0.18 million Consolidated
Comprehensive income attributable to owners of parent ¥0.4 billion Consolidated
Net cash provided by (used in) financing activities ¥-0.2 billion Consolidated
Selling, general and administrative expenses ¥1.6 billion Consolidated
Provision for bonuses ¥0.2 billion Consolidated
Retirement benefit expenses ¥29.35 million Consolidated
Other ¥10.40 million Parent only
Other ¥0.11 million Parent only
Other ¥0.3 billion Parent only
Dividends from surplus ¥-0.1 billion Parent only
Interest income ¥0.04 million Parent only
Rent income ¥3.31 million Parent only
Dividend income ¥1.80 million Parent only
Operating income ¥0.5 billion Parent only
Non-operating income ¥27.27 million Parent only
Non-operating expenses ¥2.62 million Parent only
Cost of sales of completed construction contracts cns ¥7.3 billion Parent only
Gross profit on completed construction contracts cns ¥1.8 billion Parent only
Net sales of completed construction contracts ¥9.1 billion Parent only
Net income (loss) ¥0.4 billion Parent only
Net income (loss) ¥0.4 billion Parent only
Directors' compensations ¥0.1 billion Parent only
Provision for directors' bonuses ¥50.66 million Parent only
Employee payrolls and allowances ¥0.5 billion Parent only
Technical advisory fee ¥11.70 million Parent only
Interest expenses ¥2.51 million Parent only
Income taxes - current ¥0.2 billion Parent only
Income taxes ¥0.2 billion Parent only
Income taxes - deferred ¥-25.30 million Parent only
Legal welfare expenses ¥98.64 million Parent only
Depreciation ¥24.34 million Parent only
Extraordinary loss ¥39.65 million Parent only
Income (loss) before income taxes ¥0.5 billion Parent only
Ordinary income ¥0.6 billion Parent only
Disposal of treasury stock ¥13.68 million Parent only
Purchase of treasury stock ¥-0.18 million Parent only
Selling, general and administrative expenses ¥1.3 billion Parent only
Provision of allowance for doubtful accounts ¥-0.14 million Parent only
Provision for bonuses ¥0.2 billion Parent only

Accounts unique to this company (2 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥39.65 million Consolidated
Revenue ¥39.65 million Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥0.3 billion Consolidated
Net changes in items other than shareholders' equity ¥29.32 million Consolidated
Total changes during the period ¥0.3 billion Parent only
Net changes in items other than shareholders' equity ¥29.32 million Parent only

Statement of cash flows (35 items)

ItemValueConsolidated / Non-consolidated
Other ¥6.68 million Consolidated
Other ¥-1.53 million Consolidated
Decrease increase in other inventories ope cfcns ¥-2.11 million Consolidated
Increase (decrease) in other current liabilities ¥-14.16 million Consolidated
Decrease (increase) in other current assets ¥-2.23 million Consolidated
Amortization of goodwill ¥87.50 million Consolidated
Repayments of lease obligations ¥-4.53 million Consolidated
Increase decrease in notes and accounts payable trade ¥-0.2 billion Consolidated
Payments for contributions in insurance fund ¥-11.51 million Consolidated
Proceeds from cancellation of insurance funds ¥41.25 million Consolidated
Interest expenses paid ¥-11.29 million Consolidated
Interest and dividends income received ¥2.66 million Consolidated
Interest and dividend income ¥-2.66 million Consolidated
(Increase) decrease in notes receivable, trade receivables, contract assets and other ¥0.3 billion Consolidated
Increase (decrease) in contract liabilities ¥0.1 billion Consolidated
Increase decrease in provision for warranties for completed construction ¥2.47 million Consolidated
Subtotal ¥1.4 billion Consolidated
Increase (decrease) in provision for loss on construction contracts ¥-5.90 million Consolidated
Increase decrease in provision for directors bonuses ¥21.74 million Consolidated
Interest expenses ¥11.20 million Consolidated
Purchase of property plant and equipment ¥-21.62 million Consolidated
(Increase)/decrease in consumption tax/value-added tax receivables ¥-1.17 million Consolidated
Decrease (increase) in costs on construction contracts in progress ¥0.3 billion Consolidated
Decrease in consumption taxes payable ¥71.54 million Consolidated
Income taxes paid ¥-0.1 billion Consolidated
Income taxes refund ¥5.71 million Consolidated
Depreciation ¥30.07 million Consolidated
Purchase of intangible assets ¥-1.37 million Consolidated
Redemption of bonds ¥-96.00 million Consolidated
Collection of loans receivable ¥4.32 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥-0.14 million Consolidated
Increase (decrease) in provision for bonuses ¥71.97 million Consolidated
Dividends ¥-0.1 billion Consolidated
Proceeds from long term loans payable ¥0.3 billion Consolidated
Repayment of long term loans payable ¥-0.3 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥1.2 billion ConsolidatedDisclosed
Dividend per share 160 Parent onlyDisclosed
Number of employees 171 ConsolidatedDisclosed
Net assets ¥5.3 billion ConsolidatedDisclosed
Net sales ¥10.6 billion ConsolidatedDisclosed
Operating income ¥0.6 billion ConsolidatedDisclosed
Ordinary income ¥0.7 billion ConsolidatedDisclosed
Net income ¥0.4 billion ConsolidatedDisclosed
Total assets ¥8.8 billion ConsolidatedDisclosed
Operating margin 6.0%ConsolidatedCalculated
Net margin 3.8%ConsolidatedCalculated
Sales per employee 62267187 yenConsolidatedCalculated
Total asset turnover 1.21 timesConsolidatedCalculated
Net assets to total assets 59.9%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 6%　Operating income ÷ net sales 　＝ ¥0.6 billion ÷ ¥10.6 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 3.8%　Net income ÷ net sales 　＝ ¥0.4 billion ÷ ¥10.6 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 62,267,187 yen　Sales or operating revenue ÷ employees 　＝ ¥10.6 billion ÷ 171 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.21 times　Sales or operating revenue ÷ total assets 　＝ ¥10.6 billion ÷ ¥8.8 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 59.9%　Net assets ÷ total assets 　＝ ¥5.3 billion ÷ ¥8.8 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative　President, Representative Director, gBizINFO
  • Consolidated subsidiaries　Annual Securities Report

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Oct 2024 to Sep 2025) · Consolidated · Net sales to external customers · filed 2025-12-24
  • Share: against the total of Net sales to external customers disclosed by business (100%). Adjustments, corporate, eliminations and “other” left out as they are not businesses (so no match with company-wide Net sales to external customers). Margin: calculated against the Net sales to external customers on the same row“報告セグメント計” in the segment information of the annual securities report: ¥10.6 billion. Gap against this table’s total (the part not listed as a business, such as “other”) within 1%The account may differ from “Revenue” at the top of this page

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets　Net assets ÷ total assets
  • Return on assets (ROA)　Net income ÷ total assets (consolidated)
  • Net assets per share　Consolidated
  • Free cash flow　Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets　Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired)　6% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion　Net cash provided by (used in) operating activities ÷ operating income
  • Property, plant and equipment purchases relative to depreciation　Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥21.62 million, over depreciation ¥30.07 million
  • Return to shareholders　(dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥0.1 billion (no treasury stock purchase disclosed), over operating cash flow ¥1.2 billion
  • Investment securities to net assets　Investment securities ÷ net assets。Investment securities ¥0.2 billion, over net assets ¥5.3 billion

Long-term changes in performance

  • Revenue　Disclosed value for 2025 ÷ disclosed value for 2012

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above. Flagged 2 years: a note about a stock split or share consolidation, or a period other than 12 months. No calculation across those years, as the dividend per share may rest on a different share base.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Construction that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Construction that disclose the item (industries with at least 5 companies only).

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 171 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Construction that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee　Net sales (or operating revenue) ÷ employees
  • Operating income per employee　Operating income ÷ employees

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of MASARU CORPORATION on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 7010601006280 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork