{
  "spec_version": "4",
  "endpoint": "history",
  "stock_code": "6135",
  "company_name": "牧野フライス製作所",
  "content_lang": "ja",
  "meta_lang": "en",
  "canonical_url": "https://the-shashi.com/tse/6135/decisions/",
  "api_url": "/api/6135/history.json",
  "updated": "2026-09-20",
  "license": "© 2026 Yutaka Sugiura. All rights reserved.",
  "attribution": "The社史 (the-shashi.com) — https://the-shashi.com/tse/6135/decisions/",
  "source": {
    "long_term": {
      "primary": [
        "会社年鑑（1986年版）",
        "会社年鑑（1976年版）半期合算",
        "会社年鑑（1971年版）半期合算",
        "会社年鑑（1967年版）半期合算"
      ],
      "extraction": "EDINET の XBRL、kabupro 掲載の旧有価証券報告書、会社年鑑・社史等からの転記",
      "row_field": "reference",
      "caveat": "創業期から現在までを 1 本に繋いだ長期系列のため、年代により出所・単位・連結範囲が変わる。行ごとの reference / unit / consolidation を必ず参照すること"
    },
    "decisions": {
      "html_url": "https://the-shashi.com/tse/6135/decisions/",
      "primary": [
        "企業の公表資料",
        "新聞・雑誌記事"
      ],
      "extraction": "本文は API に載せない。行ごとの html_url のページを参照すること"
    }
  },
  "title": "牧野フライス製作所の歴史概略",
  "eras": [
    {
      "title": "輸入頼みだった一番立フライス盤に絞った個人創業",
      "start_year": 1937,
      "end_year": 1955
    },
    {
      "title": "稲葉清右衛門氏と組んだ数値制御と、金型業界という需要先の発見",
      "start_year": 1956,
      "end_year": 1974
    },
    {
      "title": "輸出30%を超えたら現地で生産するという方針とレブロンド社買収",
      "start_year": 1975,
      "end_year": 2000
    },
    {
      "title": "PBR1倍割れが呼んだ買収提案と、外為法が残した上場",
      "start_year": 2001,
      "end_year": 2026
    }
  ],
  "overview": [
    {
      "label": "創業",
      "text": "1937年5月、牧野常造氏が東京・目黒区中根の現本社所在地で牧野商店製作部を個人創業した。数え年35歳での独立で、最初に選んだ機種は一番立フライス盤である。当時の日本にこの一番型を作る会社はなく、必要な分はすべて輸入していた。1942年3月に牧野竪フライス製作所へ改称し、清水正利氏が経営に加わった。戦後は新品より戦災を免れた中古機の修理と復原に主力を置き、自らリビルト・メーカーと称している。1951年5月に資本金300万円で株式会社へ改組し、1961年4月に現在の商号へ改めた。"
    },
    {
      "label": "決断",
      "text": "輸出が3割を超えたら、その先は現地で作ると決めていた。1974年に社長へ就任した清水正利氏は、輸出は売上高の30%を目標とし、それを超える需要が見込める場合は現地で生産するという原則を定めた。1975年2月に米国へMAKINO U.S.A. INC.を設立する。1977年には西独メーカーの要請に応えて技術供与契約を締結した。日本から先進工業国への工作機械の技術輸出は、これが最初の例にあたる。翌1978年10月にその西独ハイデンライヒアンドハーベック社へ資本参加し、1981年9月には米国のレブロンド社を買収して、輸出で満たしていた需要を買収先の工場に引き受けさせた。輸出に上限を置いた原則が、以後の海外進出を販売網の拡張ではなく現地企業の取得に固定した。"
    },
    {
      "label": "現況",
      "text": "機械を売る先も作る場所も国外へ移り、日本は最大の市場ではない。2026年3月期の連結売上高2,611億円は、中国950億円、アメリカ合衆国656億円、その他アジア336億円、日本343億円、ヨーロッパ199億円で構成され、海外が87%を占める。営業利益250億円と当期純利益209億円はいずれも過去最高。報告セグメントは担当会社ごとに分かれ、MAKINO ASIA PTE LTDが中国とASEAN、MAKINO INC.が南北アメリカ、MAKINO Europe GmbHがヨーロッパを受け持つ。2025年6月3日にはMMホールディングスによる公開買付けへ賛同を表明したが、この会社が上場に残ったのは、翌2026年4月に公開買付者が外為法に基づく中止の勧告を受けたからである。"
    },
    {
      "label": "競合",
      "text": "全機種を合わせた順位は低く、絞った機種の中でだけ首位に立った。1963年の全国工作機械生産高でみた市場占有率は2.3%で第8位にとどまったが、機種別には立フライス13%、治具中ぐり46%、ならい・形彫70%を占めた。万能工具研削盤を国内で作るのは、1985年3月の時点でもツガミ[ツガミ](/tse/6101/)と2社だけである。同じ年の資本金51億6,047万円は工作機械の専門メーカーとして日立精機[日立精機](/tse/6106/)と並ぶ規模で、従業員は約900人にとどまった。牧野常造会長は高精度の機械だけを作る方針を保ち、同じ機械を月に何百台と出すのではなく、本体は共通のまま周辺の装備を顧客ごとに付ける売り方をとる。量を出さない売り方を選んだことが、国内売上の6割弱を金型業界という一つの需要先に寄せた。"
    }
  ],
  "profile": [
    {
      "key": "founding_business",
      "label": "祖業",
      "value": "一番立フライス盤の製造"
    },
    {
      "key": "current_issue",
      "label": "現在の注力課題",
      "value": "インド治具工場と5軸マシニングセンタの拡充",
      "tags": [
        "海外展開",
        "新製品開発"
      ]
    }
  ],
  "summary": {
    "description": "牧野フライス製作所の歴史。1937年、牧野常造氏が東京で立フライス盤の専門メーカーを創業。磁気テープによる数値制御フライス盤とマシニングセンタ国産第1号機、放電加工機への進出、米レブロンド社買収までの沿革と経緯を執筆。"
  },
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    },
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      "year": 1976,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "net_profit": 1,
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      "employees": null,
      "reference": "会社年鑑（1986年版）"
    },
    {
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "operating_profit_jp": null,
      "operating_profit": null,
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      "net_profit_jp": "当期純利益",
      "net_profit": 4,
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      "employees": null,
      "reference": "会社年鑑（1986年版）"
    },
    {
      "year": 1978,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "operating_profit": null,
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      "net_profit": 7,
      "net_margin": 5.343,
      "employees": null,
      "reference": "会社年鑑（1986年版）"
    },
    {
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "operating_profit": null,
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      "net_profit_jp": "当期純利益",
      "net_profit": 12,
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      "employees": null,
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    },
    {
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      "month": 3,
      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "employees": null,
      "reference": "会社年鑑（1986年版）"
    },
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      "year": 1981,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
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      "reference": "会社年鑑（1986年版）"
    },
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      "month": 3,
      "company_name": "牧野フライス製作所",
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      "reference": "会社年鑑（1986年版）"
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      "company_name": "牧野フライス製作所",
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      "reference": "会社年鑑（1986年版）"
    },
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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    },
    {
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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    },
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "company_name": "牧野フライス製作所",
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      "company_name": "牧野フライス製作所",
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      "unit": "億円",
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      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
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      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
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      "company_name": "牧野フライス製作所",
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      "month": 3,
      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "year": 1999,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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    },
    {
      "year": 2001,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "単体",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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    },
    {
      "year": 2002,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 757,
      "operating_profit_jp": null,
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      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": -5,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": -8,
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      "employees": null,
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    },
    {
      "year": 2003,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "ordinary_profit": -17,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": -27,
      "net_margin": -4.098,
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    {
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      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "company_name": "牧野フライス製作所",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
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      "employees": null,
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "operating_profit": null,
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      "ordinary_profit": 137,
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      "company_name": "牧野フライス製作所",
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      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "ordinary_profit": -110,
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      "net_profit": -106,
      "net_margin": -18.308,
      "employees": null,
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      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 952,
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      "ordinary_profit": 16,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 22,
      "net_margin": 2.31,
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      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1105,
      "operating_profit_jp": "営業利益",
      "operating_profit": 58,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 50,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 37,
      "net_margin": 3.348,
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      "year": 2013,
      "month": 3,
      "company_name": "牧野フライス製作所",
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      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1268,
      "operating_profit_jp": "営業利益",
      "operating_profit": 81,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 76,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 52,
      "net_margin": 4.1,
      "employees": 4207,
      "reference": null
    },
    {
      "year": 2014,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1239,
      "operating_profit_jp": "営業利益",
      "operating_profit": 49,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 54,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 43,
      "net_margin": 3.47,
      "employees": 4178,
      "reference": null
    },
    {
      "year": 2015,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1495,
      "operating_profit_jp": "営業利益",
      "operating_profit": 120,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 133,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 114,
      "net_margin": 7.625,
      "employees": 4279,
      "reference": null
    },
    {
      "year": 2016,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1620,
      "operating_profit_jp": "営業利益",
      "operating_profit": 145,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 154,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 122,
      "net_margin": 7.53,
      "employees": 4455,
      "reference": null
    },
    {
      "year": 2017,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1536,
      "operating_profit_jp": "営業利益",
      "operating_profit": 97,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 100,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 76,
      "net_margin": 4.947,
      "employees": 4593,
      "reference": null
    },
    {
      "year": 2018,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1815,
      "operating_profit_jp": "営業利益",
      "operating_profit": 150,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 158,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 117,
      "net_margin": 6.446,
      "employees": 4731,
      "reference": null
    },
    {
      "year": 2019,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 2047,
      "operating_profit_jp": "営業利益",
      "operating_profit": 207,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 220,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 170,
      "net_margin": 8.304,
      "employees": 4805,
      "reference": null
    },
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      "year": 2020,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1594,
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      "operating_profit": 35,
      "ordinary_profit_jp": "経常利益",
      "ordinary_profit": 41,
      "net_profit_jp": "親会社株主に帰属する当期純利益",
      "net_profit": 8,
      "net_margin": 0.501,
      "employees": 4757,
      "reference": null
    },
    {
      "year": 2021,
      "month": 3,
      "company_name": "牧野フライス製作所",
      "consolidation": "連結",
      "accounting_standard": "JGAAP",
      "unit": "億円",
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      "sales": 1167,
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      "operating_profit": -36,
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      "ordinary_profit": -14,
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      "net_profit": -27,
      "net_margin": -2.314,
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      "reference": null
    },
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      "month": 3,
      "company_name": "牧野フライス製作所",
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      "unit": "億円",
      "sales_jp": "売上高",
      "sales": 1866,
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      "operating_profit": 113,
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      "ordinary_profit": 143,
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      "net_profit": 120,
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      "year": 2023,
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      "company_name": "牧野フライス製作所",
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      "sales": 2280,
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      "operating_profit": 175,
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      "ordinary_profit": 199,
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      "company_name": "牧野フライス製作所",
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      "sales": 2254,
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      "operating_profit": 164,
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      "ordinary_profit": 189,
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      "sales": 2342,
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      "operating_profit": 185,
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      "year": 2026,
      "month": 3,
      "company_name": "牧野フライス製作所",
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    }
  ],
  "decisions": [
    {
      "main_title": "外為法勧告後の自己株取得要求を否決",
      "sub_title": "公開買付けの不実施で閉ざされた出口に、当初買付価格での自己株式取得を求めた提案とその拒絶",
      "year": 2026,
      "type": "shareholder_proposal",
      "html_url": "https://the-shashi.com/tse/6135/decisions/shareholder-buyback-proposal-2026/"
    }
  ]
}