# ABHOTEL CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第12期(2025/04/01－2026/03/31) (S100YDVA)
> Page: https://vizora.meequs.com/en/company/abhotel
> Retrieved: 2026-09-30T20:18:17.999Z

## Company

Abhotel, founded in 2014, is a company in Hotels & Inns listed on Tokyo, Nagoya. It has 103 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ABHOTEL CO., LTD. |
| Ticker | 6565 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6565.T) |
| Listing | Tokyo, Nagoya |
| Head office | 愛知県安城市三河安城町一丁目9番地2 |
| Representative (per filing) | 代表取締役社長 沓名 一樹 |
| Founded | Oct 2014 |
| Share capital | ¥953.9M |
| Employees (consolidated) | 103 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | March |
| Website | www.ab-hotel.jp (https://www.ab-hotel.jp/) |
| Corporate number | 1180301027293 |
| EDINET | E33638 |
| Industries (Vizora) | Hotels & Inns |

> Profile source: annual securities report (S100YDVA, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Hotels & Inns (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 53.1 | 16 |
| Profitability | 97.1 | 17 |
| Cash conversion | 10.7 | 14 |
| Efficiency | 14.7 | 17 |

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)

- Abhotel brought in ¥12.3B in revenue.
- Out of every ¥100 of sales, about ¥40 is left as operating profit.
- Revenue changed +15.1% from the prior year, operating profit +23.5%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥12293904000 → ¥3143696000
- Net income → operating cash flow: ¥3143696000 → ¥4531195000（difference ¥1387499000）
- Main uses of operating cash flow: CapEx ¥1593115000 / dividends ¥283501000 / buybacks —
- Change in cash: ¥1791128000
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 | ¥12.3B |  |
| Operating income | ¥4.89B | Margin 39.8% |
| Net income | ¥3.14B | Margin 25.6% |
| Free cash flow | ¥2.94B |  |
| Employees (consolidated) | 103 |  |
| EPS | ¥221.77 |  |
| Book value per share | ¥1101.14 |  |
| Equity ratio | 53.2% |  |
| Shares outstanding | 14,176,000 |  |
| Treasury shares | 400 |  |
| Shareholders | 2,010 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 26.3% | Cash ÷ revenue 62.7% |
| Vs. industry median margin | +29.1 pp | Hotels & Inns |
| ROE | 22.2% | Derived from disclosed figures |
| ROA | 11.3% | Derived from disclosed figures |

## Notable figures

- FY2026, operating income keeps 40 per ¥100 of revenue
- FY2026, cash is 26% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4739254000 | ¥12293904000 | +159.4% |
| Operating income | ¥44336000 | ¥4892539000 | +10935.1% |
| Operating margin | 0.9% | 39.8% | +38.9 pp |
| Employees | 32 people | 103 people | +221.9% |
| Cash and equivalents | ¥2981739000 | ¥7711620000 | +158.6% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 12,294 | 100.0% | S100YDVA |
| Cost of revenue | 6,657 | 54.1% | S100YDVA |
| Gross profit | 5,637 | 45.9% | S100YDVA |
| SG&A | 745 | 6.1% | S100YDVA |
| Operating income | 4,893 | 39.8% | S100YDVA |
| Ordinary income | 4,830 | 39.3% | S100YDVA |
| Pretax income | 4,770 | 38.8% | S100YDVA |
| Income tax | 1,627 | 13.2% | S100YDVA |
| Net income | 3,144 | 25.6% | S100YDVA |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 54 |
| SG&A | 6 |
| Operating income | 40 |
| (Ref.) Net income | 26 |

### Margin funnel

Gross margin 45.9% → Operating margin 39.8% → Net margin 25.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +15.1%; Core profit growth: +23.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.55×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 10,679 | 12,294 | 1,615 | +15.1% |
| Gross profit | 4,626 | 5,637 | 1,011 | +21.9% |
| Operating income | 3,963 | 4,893 | 930 | +23.5% |
| Operating cash flow | 3,277 | 4,531 | 1,254 | +38.3% |
| Free cash flow | -529 | 2,938 | 3,467 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 6,296 | 1,333 | 21.2% | 891 | 1,714 | -679 | S100LTLI |
| FY ending Mar 2021 | 4,739 | 44 | 0.9% | 10 | -10 | -2,083 | S100OHSP |
| FY ending Mar 2022 | 6,345 | 959 | 15.1% | 568 | 2,056 | 1,547 | S100R6BQ |
| FY ending Mar 2023 | 8,796 | 2,977 | 33.8% | 1,807 | 2,997 | 2,620 | S100TZPL |
| FY ending Mar 2024 | 9,948 | 3,612 | 36.3% | 2,313 | 2,843 | 1,575 | S100W5JY |
| FY ending Mar 2025 | 10,679 | 3,963 | 37.1% | 2,542 | 3,277 | -529 | S100YDVA |
| FY ending Mar 2026 | 12,294 | 4,893 | 39.8% | 3,144 | 4,531 | 2,938 | S100YDVA |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥119.4M |
| Operating income per employee (consolidated) | ¥47.5M |
| Net income per employee (consolidated) | ¥30.5M |

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

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 35 | 51 | 60 | 86 | 103 |
| Average salary (parent company) | ¥4.5M | ¥4.9M | ¥4.9M | ¥5.1M | ¥5.2M |
| Average age (parent company) | 31.4 years | 34.5 years | 36.1 years | 35.7 years | 36.6 years |
| Average tenure (parent company) | 2.7 years | 2.3 years | 2.6 years | 2.3 years | 2.1 years |

Year over year: Employees (consolidated) +19.8% · Revenue (consolidated) +15.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 4,531 | 36.9% | S100YDVA |
| Capital expenditure | 1,593 | 13.0% | S100YDVA |
| Free cash flow | 2,938 | 23.9% | 算出 |
| Investing cash flow | -2,009 | -16.3% | S100YDVA |
| Financing cash flow | -731 | -5.9% | S100YDVA |
| Dividends paid | 284 | 2.3% | S100YDVA |
| Change in cash | 1,791 | 14.6% | S100YDVA |
| Cash and equivalents | 7,712 | 62.7% | S100YDVA |

## 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 Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 3,278 | 4,778 | 5,586 | 5,920 | 7,712 | S100TZPL, S100W5JY, S100YDVA |
| Total assets | 20,441 | 21,612 | 22,861 | 26,286 | 29,330 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Net assets | 6,541 | 8,291 | 10,433 | 12,749 | 15,609 | S100TZPL, S100W5JY, S100YDVA |
| Share capital | 954 | 954 | 954 | 954 | 954 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Property, plant and equipment | 15,912 | 15,285 | 15,699 | 18,690 | 19,340 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Intangible assets excluding goodwill | 30 | 28 | 30 | 31 | 35 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Investment securities | 1 | 1 | 1 | 1 | 1 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Current assets | 3,733 | 5,491 | 6,313 | 6,738 | 8,973 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Current liabilities | 3,250 | 3,982 | 4,057 | 4,569 | 4,501 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Short-term borrowings | — | — | 130 | 521 | — | S100W5JY, S100YDVA |
| Long-term borrowings | 6,863 | 5,720 | 4,938 | 5,534 | 5,650 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Total liabilities | 13,900 | 13,321 | 12,427 | 13,537 | 13,721 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Equity attributable to owners of parent | 6,541 | 8,291 | 10,433 | 12,749 | 15,609 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Retained earnings | 4,200 | 5,950 | 8,093 | 10,409 | 13,269 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |
| Treasury stock | -1 | -1 | -1 | -1 | -1 | S100R6BQ, S100TZPL, S100W5JY, S100YDVA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 26% | S100YDVA |
| Property, plant and equipment | 66% | S100YDVA |
| Intangibles and goodwill | 0% | S100YDVA |
| Investment securities | 0% | S100YDVA |
| Other assets | 8% | S100YDVA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 47% | S100YDVA |
| Equity | 53% | S100YDVA |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 20,441 | 21,612 | 22,861 | 26,286 | 29,330 |
| Equity | 6,541 | 8,291 | 10,433 | 12,749 | 15,609 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,278 | 4,778 | 5,586 | 5,920 | 7,712 |

## 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) | 157.3% | S100YDVA |
| Fixed assets ÷ total assets | 65.9% | S100YDVA |
| Goodwill ÷ parent equity | — | —, S100YDVA |

### 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) | 26.3% |
| Cash ÷ revenue | 62.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 92.6% |
| Cash vs. profit gap | 1,387 JPY mn (of net income 44.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 9.0% |
| Shareholder payments — dividends / FCF | 9.6% |
| CapEx intensity (capex ÷ revenue) | 13.0% |
| Investing CF relative to operating CF | 44.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 8.9% | 0.31× | 2.8% | 3.13× | 8.7% | S100R6BQ |
| 2023 | 20.5% | 0.42× | 8.6% | 2.84× | 24.4% | S100TZPL |
| 2024 | 23.2% | 0.45× | 10.4% | 2.38× | 24.7% | S100W5JY |
| 2025 | 23.8% | 0.43× | 10.3% | 2.12× | 21.9% | S100YDVA |
| 2026 | 25.6% | 0.44× | 11.3% | 1.96× | 22.2% | S100YDVA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社東祥 | Major shareholder | 52.8% | 2026-03-31 |
| ＡＢ開発株式会社 | Major shareholder | 35.5% | 2026-03-31 |
| ＮＯＭＵＲＡ ＰＢ ＮＯＭＩＮＥＥＳ ＬＩＭＩＴＥＤ ＯＭＮＩＢＵＳ－ＭＡＲＧＩＮ （ＣＡＳＨＰＢ）（常任代理人 野村證券株式会社） | Major shareholder | 0.6% | 2026-03-31 |
| 三浦寛之 | Major shareholder | 0.4% | 2026-03-31 |
| 東京短資株式会社 | Major shareholder | 0.4% | 2026-03-31 |
| 堀田茂和 | Major shareholder | 0.4% | 2026-03-31 |
| 大和証券株式会社 | Major shareholder | 0.3% | 2026-03-31 |
| ヨシダトモヒロ | Major shareholder | 0.3% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 0.3% | 2026-03-31 |
| 田中太 | Major shareholder | 0.2% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第12期(2025/04/01－2026/03/31) | S100YDVA | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDVA,, |
| 有価証券報告書－第11期(2024/04/01－2025/03/31) | S100W5JY | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5JY,, |
| 訂正有価証券報告書－第10期(2023/04/01－2024/03/31) | S100TZPL | 2024-07-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TZPL,, |
| 有価証券報告書－第9期(2022/04/01－2023/03/31) | S100R6BQ | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6BQ,, |
| 有価証券報告書－第8期(令和3年4月1日－令和4年3月31日) | S100OHSP | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHSP,, |
| 有価証券報告書－第7期(令和2年4月1日－令和3年3月31日) | S100LTLI | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LTLI,, |

## 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).