# BayCurrent vs Mitsubishi Research Institute

> Unit: JPY millions (ratios in %)
> Periods: BayCurrent = FY ending Feb 2026, consolidated, IFRS / Mitsubishi Research Institute = FY ending Sep 2025, consolidated, J-GAAP
> Retrieved: 2026-09-30T20:36:37.484Z

| Metric | BayCurrent | Mitsubishi Research Institute |
| --- | ---: | ---: |
| Revenue | 148,332 | 121,458 |
| Operating income | 50,931 | 8,010 |
| Net income | 37,840 | 6,386 |
| COGS ratio | 43.4% | 76.3% |
| Operating margin | 34.3% | 6.6% |
| Net margin | 25.5% | 5.3% |
| FCF margin | 23.6% | 0.0% |
| Period | FY ending Feb 2026 | FY ending Sep 2025 |
| Source | S100Y69G | S100X9BV |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | BayCurrent | Mitsubishi Research Institute |
| --- | ---: | ---: |
| Revenue growth | — | 32.2 (157 peers) |
| Profitability | 92 (44 peers) | 31.9 (196 peers) |
| Cash conversion | 35.2 (44 peers) | 48.9 (185 peers) |
| Efficiency | 30.7 (44 peers) | 26.8 (196 peers) |
| Financial strength | — | — |

## Company details

- https://vizora.meequs.com/en/company/baycurrent/md
- https://vizora.meequs.com/en/company/mitsubishi-research-institute/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).