# 3-D Matrix,Ltd.: business model and financials

> Latest period: FY ending Apr 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第22期(2025/05/01－2026/04/30) (S100YR3G)
> Page: https://vizora.meequs.com/en/company/3-d-matrix
> Retrieved: 2026-09-30T22:08:11.163Z

## Company

3-D Matrix, founded in 2004, is a company in Medical Devices listed on TSE Growth. It has 129 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | 3-D Matrix,Ltd. |
| Ticker | 7777 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7777.T) |
| Listing | TSE Growth |
| Head office | 東京都千代田区麹町三丁目2番4号 |
| Representative (per filing) | 代表取締役社長 天沼 利彦 |
| Founded | May 2004 |
| Share capital | ¥17.1B |
| Employees (consolidated) | 129 |
| Average salary (parent only) | ¥9.4M |
| Fiscal year end | April |
| Website | www.3d-matrix.co.jp (https://www.3d-matrix.co.jp/) |
| Corporate number | 4010001087940 |
| EDINET | E25884 |
| Industries (Vizora) | Medical Devices |

> Profile source: annual securities report (S100YR3G, filed 2026-07-22). As of filing

## Five-axis industry profile

Primary industry: Medical Devices (2026-04-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 98.7 | 38 |
| Profitability | 52.6 | 39 |
| Cash conversion | 9.2 | 38 |
| Efficiency | 93.6 | 39 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- 3-D Matrix brought in ¥10.9B in revenue.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +57.0% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥10886312000 → ¥4155851000
- Net income → operating cash flow: ¥4155851000 → ¥396845000（difference ¥-3759006000）
- Main uses of operating cash flow: CapEx ¥28253000 / dividends — / buybacks —
- Change in cash: ¥1250605000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥10.9B |  |
| Operating income | ¥1.34B | Margin 12.3% |
| Net income | ¥4.16B | Margin 38.2% |
| Free cash flow | ¥368.6M |  |
| Employees (consolidated) | 129 |  |
| EPS | ¥11.44 |  |
| Diluted EPS | ¥10.23 |  |
| Book value per share | ¥50.46 |  |
| Equity ratio | 66.7% |  |
| Shares outstanding | 127,971,881 |  |
| Treasury shares | 200 |  |
| Shareholders | 39,629 |  |
| Average salary (parent only) | ¥9.4M | Filing company only |
| Cash ratio | 28.9% | Cash ÷ revenue 26.0% |
| Vs. industry median margin | +1.2 pp | Medical Devices |
| ROE | 49.8% | Derived from disclosed figures |
| ROA | 51.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 29% of total assets

## What changed in 1 years

| Metric | FY ending Apr 2025 | FY ending Apr 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6934144000 | ¥10886312000 | +57.0% |
| Operating income | ¥-1156167000 | ¥1335734000 | — |
| Operating margin | -16.7% | 12.3% | +28.9 pp |
| Employees | 114 people | 129 people | +13.2% |
| Cash and equivalents | ¥1580268000 | ¥2830873000 | +79.1% |

### Change in segment revenue mix

Span: FY ending Apr 2025 → FY ending Apr 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Apr 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 10,886 | 100.0% | S100YR3G |
| Cost of revenue | 2,314 | 21.3% | S100YR3G |
| Gross profit | 8,572 | 78.7% | 算出 |
| SG&A | 6,596 | 60.6% | S100YR3G |
| Operating income | 1,336 | 12.3% | S100YR3G |
| Ordinary income | 3,972 | 36.5% | S100YR3G |
| Pretax income | 4,152 | 38.1% | S100YR3G |
| Income tax | -4 | -0.0% | S100YR3G |
| Net income | 4,156 | 38.2% | S100YR3G |
| Net income attributable to owners | 4,156 | 38.2% | S100YR3G |

## Per ¥100 of revenue（FY ending Apr 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 21 |
| SG&A | 61 |
| Other operating | 6 |
| Operating income | 12 |
| (Ref.) Net income | 38 |

### Margin funnel

Gross margin 78.7% → Operating margin 12.3% → Net margin 38.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Apr 2025 → FY ending Apr 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 6,934 | 10,886 | 3,952 | +57.0% |
| Gross profit | 4,425 | 8,572 | 4,148 | +93.7% |
| Operating income | -1,156 | 1,336 | 2,492 | — |
| Net income attributable to owners | -2,501 | 4,156 | 6,657 | — |
| Operating cash flow | -1,714 | 397 | 2,111 | — |
| Free cash flow | -1,726 | 369 | 2,095 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Apr 2025 | 6,934 | -1,156 | -16.7% | -2,501 | -1,714 | -1,726 | S100YR3G |
| FY ending Apr 2026 | 10,886 | 1,336 | 12.3% | 4,156 | 397 | 369 | S100YR3G |

## People and productivity（FY ending Apr 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥84.4M |
| Operating income per employee (consolidated) | ¥10.4M |
| Net income per employee (consolidated) | ¥32.2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Apr 2025 | FY ending Apr 2026 |
| --- | ---: | ---: |
| Employees (consolidated) | 114 | 129 |
| Average salary (parent company) | ¥9.6M | ¥9.4M |
| Average age (parent company) | 46.0 years | 47.4 years |
| Average tenure (parent company) | 3.1 years | 3.5 years |

Year over year: Employees (consolidated) +13.2% · Revenue (consolidated) +57.0%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Apr 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 397 | 3.6% | S100YR3G |
| Capital expenditure | 28 | 0.3% | S100YR3G |
| Free cash flow | 369 | 3.4% | 算出 |
| Investing cash flow | -42 | -0.4% | S100YR3G |
| Financing cash flow | 786 | 7.2% | S100YR3G |
| Change in cash | 1,251 | 11.5% | S100YR3G |
| Cash and equivalents | 2,831 | 26.0% | S100YR3G |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Apr 2025 | FY ending Apr 2026 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 1,580 | 2,831 | S100YR3G |
| Total assets | 6,513 | 9,796 | S100YR3G |
| Net assets | 2,216 | 6,796 | S100YR3G |
| Share capital | 15,490 | 17,061 | S100YR3G |
| Inventories | 2,491 | 3,146 | S100YR3G |
| Property, plant and equipment | — | 2 | S100YR3G |
| Investment securities | 8 | 9 | S100YR3G |
| Current assets | 6,419 | 9,179 | S100YR3G |
| Current liabilities | 1,579 | 2,956 | S100YR3G |
| Short-term borrowings | 300 | 600 | S100YR3G |
| Total liabilities | 4,297 | 2,999 | S100YR3G |
| Equity attributable to owners of parent | 4,704 | 12,001 | S100YR3G |
| Retained earnings | -26,265 | -22,110 | S100YR3G |
| Treasury stock | -0 | -0 | S100YR3G |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100YR3G |
| Inventories | 32% | S100YR3G |
| Property, plant and equipment | 0% | S100YR3G |
| Investment securities | 0% | S100YR3G |
| Other assets | 39% | S100YR3G |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 31% | S100YR3G |
| Equity | 69% | S100YR3G |

### Balance sheet history

| Metric | FY ending Apr 2025 | FY ending Apr 2026 |
| --- | ---: | ---: |
| Total assets | 6,513 | 9,796 |
| Equity | 2,216 | 6,796 |
| Interest-bearing debt | — | — |
| Cash | 1,580 | 2,831 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 0.0% | S100YR3G |
| Fixed assets ÷ total assets | 0.0% | S100YR3G |
| Goodwill ÷ parent equity | — | —, S100YR3G |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 28.9% |
| Cash ÷ revenue | 26.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 29.7% |
| Cash vs. profit gap | -3,759 JPY mn (of net income -90.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.3% |
| Investing CF relative to operating CF | 10.7% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2025 | — | —× | -38.4% | —× | — | S100YR3G |
| 2026 | 38.2% | 1.34× | 51.0% | 0.98× | 49.8% | S100YR3G |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| JPモルガン証券株式会社 | Major shareholder | 2.0% | 2026-04-30 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG | Major shareholder | 1.8% | 2026-04-30 |
| 永野 恵嗣 | Major shareholder | 1.5% | 2026-04-30 |
| 楽天証券株式会社 | Major shareholder | 1.3% | 2026-04-30 |
| 松本 松二 | Major shareholder | 1.1% | 2026-04-30 |
| 山田 祥美 | Major shareholder | 0.8% | 2026-04-30 |
| 野村証券株式会社 | Major shareholder | 0.8% | 2026-04-30 |
| 石井 良明 | Major shareholder | 0.7% | 2026-04-30 |
| 小林 達雄 | Major shareholder | 0.7% | 2026-04-30 |
| 寺西 雅行 | Major shareholder | 0.7% | 2026-04-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第22期(2025/05/01－2026/04/30) | S100YR3G | 2026-07-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YR3G,, |
| 有価証券報告書－第21期(2024/05/01－2025/04/30) | S100WDJ9 | 2025-07-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WDJ9,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| MIT | Co-development | 自己組織化ペプチド技術の特許の独占的実施権を導入（子会社3-D Matrix,Inc.） | S100YR3G |
| 扶桑薬品工業 | Supply/OEM | 止血材製品の製造委託（扶桑が製造して当社に供給） | S100YR3G |
| Pharmpur GMBH | Supply/OEM | 止血材製品の製造委託（Pharmpurが製造して当社に供給） | S100YR3G |
| FUJIFILM Europe B.V. | Supply/OEM | 欧州での消化器内視鏡領域の止血材の独占的販売権を許諾（当社側が供給） | S100YR3G |

## 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).