D 
Densan System Holdings Co 4072.T · JPY
Information Technology · Tokyo Stock Exchange · 🇯🇵 Japan
3,135
+2.96%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥68.13bn
FY2016FY2025
Net income
¥2.90bn
FY2016FY2025
Free cash flow
¥3.53bn
FY2016FY2025
Shareholders' equity
¥24.64bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥68.13bn | ¥61.26bn | ¥59.59bn | ¥53.48bn | ¥50.36bn | ¥45.75bn | ¥40.20bn | ¥36.58bn | ¥33.55bn | ¥30.37bn |
| Gross profit | ¥11.02bn | ¥9.29bn | ¥10.60bn | ¥9.98bn | ¥9.23bn | ¥8.02bn | ¥6.91bn | ¥6.07bn | ¥5.59bn | ¥5.00bn |
| Operating income | ¥3.62bn | ¥2.31bn | ¥3.96bn | ¥3.41bn | ¥3.13bn | ¥2.84bn | ¥2.27bn | ¥1.67bn | ¥1.30bn | ¥1.13bn |
| Net income | ¥2.90bn | ¥1.85bn | ¥2.00bn | ¥2.35bn | ¥1.98bn | ¥1.92bn | ¥1.56bn | ¥1.02bn | ¥821.6m | ¥732.4m |
| Diluted earnings per share | 270.97 | 173.83 | 187.67 | 217.64 | 183.40 | 177.54 | 159.35 | 104.27 | 83.99 | 75.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥69.11bn | ¥61.75bn | ¥57.05bn | ¥72.17bn | ¥51.39bn | ¥47.98bn | ¥37.02bn | ¥38.74bn | ¥31.72bn | ¥44.99bn |
| Cash and short-term investments | ¥22.67bn | ¥19.28bn | ¥15.91bn | ¥12.53bn | ¥13.67bn | — | — | — | — | — |
| Total liabilities | ¥44.48bn | ¥39.66bn | ¥36.47bn | ¥52.71bn | ¥33.98bn | ¥32.15bn | ¥26.15bn | ¥29.21bn | ¥22.39bn | ¥36.38bn |
| Debt | ¥629.0m | ¥1.07bn | ¥1.53bn | ¥1.49bn | ¥1.09bn | ¥828.7m | ¥1.56bn | ¥1.86bn | ¥1.36bn | ¥1.09bn |
| Shareholders' equity | ¥24.64bn | ¥22.08bn | ¥20.58bn | ¥19.46bn | ¥17.41bn | ¥15.65bn | ¥10.74bn | ¥9.43bn | ¥9.13bn | ¥8.44bn |
| Shares outstanding | 11m | 11m | 11m | 11m | 11m | 11m | 10m | 10m | 10m | 10m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥4.16bn | ¥3.02bn | ¥5.50bn | ¥1.91bn | ¥2.53bn | ¥2.73bn | ¥2.48bn | ¥1.67bn | ¥1.28bn | ¥1.35bn |
| Capital spending | −¥632.0m | −¥623.0m | −¥823.0m | −¥571.0m | −¥612.0m | −¥703.0m | −¥242.0m | −¥514.0m | −¥209.0m | −¥699.5m |
| Free cash flow | ¥3.53bn | ¥2.40bn | ¥4.68bn | ¥1.33bn | ¥1.92bn | ¥2.03bn | ¥2.24bn | ¥1.16bn | ¥1.08bn | ¥654.5m |
| Dividends paid | −¥863.0m | −¥421.0m | −¥388.0m | −¥399.0m | −¥304.0m | −¥274.0m | −¥254.0m | −¥254.0m | −¥235.0m | −¥234.0m |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥17.95bn | ¥17.91bn | ¥16.73bn | ¥15.54bn | ¥16.15bn | ¥14.86bn | ¥15.59bn | ¥14.65bn |
| Gross profit | ¥2.83bn | ¥2.84bn | ¥2.52bn | ¥2.83bn | ¥2.58bn | ¥1.72bn | ¥2.25bn | ¥2.74bn |
| Operating income | ¥947.0m | ¥1.04bn | ¥557.0m | ¥1.08bn | ¥850.0m | −¥87.0m | ¥429.0m | ¥1.12bn |
| Net income | ¥661.0m | ¥983.0m | ¥432.0m | ¥820.0m | ¥1.00bn | −¥239.0m | ¥300.0m | ¥786.0m |
| Diluted earnings per share | 61.75 | 91.92 | 40.44 | 76.86 | 94.10 | -22.45 | 28.22 | 73.96 |
| Cash from operations | ¥3.12bn | — | ¥1.05bn | — | ¥1.35bn | — | ¥1.67bn | — |
| Capital spending | −¥286.0m | — | −¥346.0m | — | −¥233.0m | — | −¥390.0m | — |
| Free cash flow | ¥2.83bn | — | ¥701.0m | — | ¥1.12bn | — | ¥1.28bn | — |
| Total assets | ¥69.11bn | ¥73.35bn | ¥76.48bn | ¥68.75bn | ¥61.75bn | ¥69.40bn | ¥60.31bn | ¥57.57bn |
| Cash and short-term investments | ¥22.67bn | ¥21.68bn | ¥22.42bn | ¥20.68bn | ¥19.28bn | ¥17.95bn | ¥17.00bn | ¥17.11bn |
| Debt | ¥498.0m | ¥5.59bn | ¥5.41bn | ¥3.93bn | ¥861.0m | ¥3.55bn | ¥1.10bn | ¥1.21bn |
| Shareholders' equity | ¥24.64bn | ¥23.63bn | ¥22.98bn | ¥22.49bn | ¥22.08bn | ¥21.11bn | ¥21.63bn | ¥21.27bn |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2012 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 16.2% | 15.2% | 17.8% | 18.7% | 18.3% | 17.5% | — |
| Operating margin | 5.3% | 3.8% | 6.7% | 6.4% | 6.2% | 6.4% | — |
| Net margin | 4.3% | 3.0% | 3.4% | 4.4% | 3.9% | 4.2% | — |
| Return on equity | 11.8% | 8.4% | 9.7% | 12.1% | 11.4% | 12.2% | — |
| Return on assets | 4.2% | 3.0% | 3.5% | 3.3% | 3.8% | 4.0% | — |
| Free cash flow yield | 13.2% | 9.6% | 18.4% | 7.1% | 9.0% | 10.4% | — |
| Revenue growth | 11.2% | 2.8% | 11.4% | 6.2% | 10.1% | 13.8% | — |
| Earnings growth | 56.5% | -7.7% | -14.7% | 18.7% | 3.3% | 22.9% | — |
| Current ratio | 1.42x | 1.43x | 1.42x | 1.25x | 1.35x | 1.33x | — |
| Debt to equity | 0.03x | 0.05x | 0.07x | 0.08x | 0.06x | 0.08x | — |
| Equity ratio | 35.6% | 35.8% | 36.1% | 27.0% | 33.9% | 32.6% | — |
| Interest coverage | 163.91x | 165.21x | 360.45x | 379.33x | 627.80x | 392.99x | — |
| R&D as a share of sales | — | — | 0.1% | 0.2% | — | — | 0.1% |
| Buybacks as a share of market value | -0.3% | -0.3% | 1.6% | -0.0% | 0.0% | -10.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.4% | 8.3% | 8.9% |
| Operating income | 2.0% | 5.0% | 13.3% |
| Net income | 7.2% | 8.6% | 15.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.7% | 16.9% | 17.2% | 17.0% |
| Operating margin | 4.6% | 5.5% | 5.7% | 5.3% |
| Net margin | 3.7% | 3.8% | 3.8% | 3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 13.3 | 14.5 | 14.8 | 10.0 | 14.9 |
| Price to sales | 0.6 | 0.4 | 0.5 | 0.4 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 18 years. Last went ex-dividend on 29 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 50.00 | 120.00 | 39.00 | 36.00 | 22.00 | 28.00 | 28.00 | 26.00 |
- 2-for-1 split · 26 Jun 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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