TOYO TEC CO., LTD.
9686・Standard Market・Services
Business
Toyo Tec Co., Ltd. is a comprehensive security services company headquartered in Osaka, founded in 1966. It comprises three segments: the Security Business (approximately 75% of revenue), centered on mechanical security, on-site guarding, transport security, and ATM management; the Building Management Business (approximately 24% of revenue), which handles comprehensive building management, cleaning, and renovation work; and the Real Estate Business (approximately 1% of revenue), which engages in real estate leasing, brokerage, and investment. The group, comprising 7 subsidiaries and affiliated companies, operates primarily in the Kansai region, and in FY2025 served as the lead security company for large-scale security operations at the Osaka-Kansai Expo. Consolidated revenue for FY2026 (ending March 2026) was ¥43,071 million, marking 15 consecutive years of revenue growth.
Business Model
The security and building management services business is a stock-type revenue model based on continuing contracts with customers. Monthly contracts for machine security, on-site security guards, ATM management, etc. underpin stable revenue, and the establishment of price revision negotiations continues to raise contract unit prices. The structure pursues scale merit through group expansion via M&A (AMS Security Service Co., Ltd., Kansai Unite Protection Co., Ltd., etc.), and improves profitability through labor-saving measures leveraging AI and DX.
Company Strengths
Revenue for FY2026 (ending March 2026) reached ¥43,071 million, achieving 15 consecutive years of revenue growth. As the lead company at the Osaka-Kansai Expo, the joint venture as a whole completed security operations worth ¥12,125 million (including the portion contracted to the company's group), externally demonstrating the group's execution capability, reliability, and overall strength. This track record functions as a competitive advantage for securing large-scale projects in the next fiscal period.
Between May and June 2024, the company made Ams Security Service Co., Ltd. (Osaka/Kyoto), Ams Secret Service Co., Ltd., and Kansai Unite Protection Co., Ltd. wholly owned subsidiaries. In FY2026 (ending March 2026), segment profit in the security business rose 391.7% year on year to ¥2,081 million, reflecting M&A synergies in earnings. The company has also carried out multiple past mergers and integrations, accumulating M&A integration know-how.
As of the end of FY2026 (ending March 2026), the equity ratio stood at 59.2% (up 3.2 percentage points year on year), with cash and cash equivalents of ¥8,285 million and interest-bearing debt of ¥7,972 million. Net cash is nearly balanced, and operating cash flow secured was ¥5,023 million. The company maintains high financial soundness and has financial capacity to support future M&A and DX investments.
ENVALITH's Perspective
Performance Trend
Revenue expanded 57% over five periods, from ¥27,465 million in FY2022 to ¥43,071 million in FY2026, with FY2026 growth accelerating to +¥8,146 million (+23.3%) year-on-year. Operating profit had remained at a low level of ¥849–1,049 million from FY2022 to FY2025, but surged to ¥2,912 million in FY2026, up +¥1,863 million (+177.6%) year-on-year. The main drivers were the completion of large-scale security and cleaning operations for the Osaka-Kansai Expo (the hosting of the Expo served as an external tailwind), together with the resolution of the prior period's M&A expenses and upfront investment burden, the streamlining of unprofitable projects, and the penetration of price revisions. Operating cash flow also rose to ¥5,023 million, up +¥2,162 million year-on-year, marking a substantial improvement in cash generation capability. For FY2027 (ending March 2027), the company forecasts a pullback to revenue of ¥37,500 million and operating profit of ¥2,040 million due to the fading of Expo-related special demand.
Growth Strategy
Under the 13th Medium-Term Management Plan, 'Shift from Quantity to Quality,' the company is promoting a transformation into a lean and robust corporate structure.
The company is advancing ongoing price revision negotiations across all security and building management operations. Penetration was largely confirmed in FY2026 (ending March 2026), with the operating profit margin improving from 3.0% to 6.8%. The company intends to continue improving the profitability of existing contracts from FY2027 (ending March 2027) onward.
The company is promoting improved security efficiency through IT utilization and optimization of resources within the group. While addressing labor shortages through labor-saving measures and greater efficiency, it aims to boost profitability by providing high-value-added services through DX.
Synergies from AMS Security Service Co., Ltd. and Kansai Unite Protection Co., Ltd., which became wholly-owned subsidiaries in 2024, are expected to be fully realized in FY2026 (ending March 2026). Going forward, the company aims for sustainable growth through accelerated expansion into new growth areas and the advancement of human capital management.
The company has been optimizing its portfolio by terminating transactions with unprofitable clients and selecting large-scale spot projects carefully. Improved profitability was also confirmed in the building management business in FY2026 (ending March 2026). Continuing to improve the profitability of existing operations even after the drop-off of Expo-related special demand is regarded as an urgent priority.
Last updated: July 19, 2026