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

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第49期(2025/04/01－2026/03/31) (S100YBXA)
> Page: https://vizora.meequs.com/en/company/acom
> Retrieved: 2026-09-30T19:05:56.357Z

## Company

Acom, founded in 1978, is a company in Consumer Finance listed on TSE Standard. It has 5,626 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ACOM CO., LTD. |
| Ticker | 8572 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8572.T) |
| Listing | TSE Standard |
| Head office | 東京都港区東新橋一丁目9番1号 |
| Representative (per filing) | 代表取締役社長 木下政孝 |
| Founded | Oct 1978 |
| Share capital | ¥63.8B |
| Employees (consolidated) | 5,626 |
| Average salary (parent only) | ¥7.2M |
| Fiscal year end | March |
| Website | www.acom.co.jp (https://www.acom.co.jp/) |
| Corporate number | 6010001023778 |
| EDINET | E03693 |
| Industries (Vizora) | Consumer Finance, Business Process Outsourcing |

> Profile source: annual securities report (S100YBXA, filed 2026-06-16). As of filing

## Key points (generated from figures)

- About 54% of Acom's sales come from Loan and credit card business, with Guarantee business and Overseas finance business making up much of the rest.
- Out of every ¥100 of sales, about ¥30 is left as operating profit.
- Revenue changed +6.3% from the prior year, operating profit +71.4%.

## Company structure

- Segment revenue mix: Loan and credit card business 53.9%、Guarantee business 24.0%、Overseas finance business 20.0%、Loan servicing business 2.1%、Other 0.0%
- Revenue → net income: ¥337709000000 → ¥84888000000
- Net income → operating cash flow: ¥84888000000 → ¥12096000000（difference ¥-72792000000）
- Main uses of operating cash flow: CapEx ¥5834000000 / dividends ¥26634000000 / buybacks ¥0
- Change in cash: ¥20239000000
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 | ¥337.7B |  |
| Operating income | ¥100.4B | Margin 29.7% |
| Net income | ¥79.6B | Margin 23.6% |
| Free cash flow | ¥6.26B |  |
| Largest business | Loan and credit card business | of segment revenue 53.9% |
| Employees (consolidated) | 5,626 |  |
| EPS | ¥44.99 |  |
| Book value per share | ¥366.95 |  |
| Equity ratio | 44.5% |  |
| Shares outstanding | 1,566,614,000 |  |
| Treasury shares | 100 |  |
| Shareholders | 30,829 |  |
| Average salary (parent only) | ¥7.2M | Filing company only |
| Cash ratio | 5.0% | Net cash -¥309.6B · Cash ÷ revenue 23.8% |
| ROE | 12.4% | Derived from disclosed figures |
| ROA | 5.1% | Derived from disclosed figures |

## Notable figures

- FY2026, operating income keeps 30 per ¥100 of revenue
- FY2026, cash is 5% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥266316000000 | ¥337709000000 | +26.8% |
| Operating income | ¥98896000000 | ¥100394000000 | +1.5% |
| Operating margin | 37.1% | 29.7% | -7.4 pp |
| Employees | 5,424 people | 5,626 people | +3.7% |
| Cash and equivalents | ¥82233000000 | ¥80397000000 | -2.2% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| ローン・クレジットカード事業 → ローン・クレジットカード事業 | 53.9% |
| ローン・クレジットカード事業 → 事業再編・廃止 | 0.4% |
| 信用保証事業 → 信用保証事業 | 24.0% |
| 信用保証事業 → 事業再編・廃止 | 0.1% |
| 海外金融事業 → 海外金融事業 | 19.6% |
| 債権管理回収事業 → 債権管理回収事業 | 2.1% |
| その他 → その他 | 0.0% |
| 新設・再編 → 海外金融事業 | 0.4% |
| 新設・再編 → 債権管理回収事業 | 0.1% |
| 新設・再編 → その他 | 0.0% |

Segment revenue source references: 10 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Loan and credit card business | 5 years | +4.7% | ¥181880000000 | 29.5% | 2 |
| Guarantee business | 5 years | +4.8% | ¥81039000000 | 27.5% | 2 |
| Overseas finance business | 5 years | +5.3% | ¥67493000000 | 33.9% | 2 |
| Loan servicing business | 5 years | +5.5% | ¥7194000000 | 18.7% | 2 |
| Other | 5 years | +35.9% | ¥102000000 | 303.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 337,709 | 100.0% | S100YBXA |
| Operating income | 100,394 | 29.7% | S100YBXA |
| Ordinary income | 100,513 | 29.8% | S100YBXA |
| Pretax income | 100,746 | 29.8% | S100YBXA |
| Income tax | 15,858 | 4.7% | S100YBXA |
| Net income | 84,888 | 25.1% | S100YBXA |
| Net income attributable to owners | 79,635 | 23.6% | S100YBXA |

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

| Part | JPY |
| --- | ---: |
| Operating expenses | 70 |
| Operating income | 30 |
| (Ref.) Net income | 24 |

### Margin funnel

Operating margin 29.7% → Net margin 23.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +6.3%; Core profit growth: +71.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 11.37×
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 | 317,742 | 337,709 | 19,967 | +6.3% |
| Operating income | 58,561 | 100,394 | 41,833 | +71.4% |
| Net income attributable to owners | 32,124 | 79,635 | 47,511 | +147.9% |
| Operating cash flow | 876 | 12,096 | 11,220 | +1280.8% |
| Free cash flow | -6,617 | 6,262 | 12,879 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 279,510 | 75,636 | 27.1% | 59,600 | 19,698 | 16,051 | S100TO17 |
| FY ending Mar 2021 | 266,316 | 98,896 | 37.1% | 78,864 | 113,179 | 109,831 | S100VZEV |
| FY ending Mar 2022 | 262,155 | 34,779 | 13.3% | 55,678 | 46,089 | 41,606 | S100YBXA |
| FY ending Mar 2023 | 273,793 | 87,287 | 31.9% | 54,926 | -1,318 | -5,998 | S100YBXA |
| FY ending Mar 2024 | 294,730 | 86,347 | 29.3% | 53,091 | -36,759 | -41,394 | S100YBXA |
| FY ending Mar 2025 | 317,742 | 58,561 | 18.4% | 32,124 | 876 | -6,617 | S100YBXA |
| FY ending Mar 2026 | 337,709 | 100,394 | 29.7% | 79,635 | 12,096 | 6,262 | S100YBXA |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥60M |
| Operating income per employee (consolidated) | ¥17.8M |
| Net income per employee (consolidated) | ¥14.2M |

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) | 5,317 | 5,333 | 5,404 | 5,498 | 5,626 |
| Average salary (parent company) | ¥6.3M | ¥6.5M | ¥6.7M | ¥6.9M | ¥7.2M |
| Average age (parent company) | 40.8 years | 41.1 years | 41.3 years | 41.2 years | 40.7 years |
| Average tenure (parent company) | 15.0 years | 15.3 years | 15.5 years | 15.2 years | 14.7 years |

Year over year: Employees (consolidated) +2.3% · Revenue (consolidated) +6.3%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Loan and credit card business | 181,880 | 53.9% | 53,588 | 29.5% |
| Guarantee business | 81,039 | 24.0% | 22,269 | 27.5% |
| Overseas finance business | 67,493 | 20.0% | 22,865 | 33.9% |
| Loan servicing business | 7,194 | 2.1% | 1,348 | 18.7% |
| Other | 102 | 0.0% | 310 | 303.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Loan and credit card business | 53.9% | 53.4% | -0.5 | 29.5% |
| Guarantee business | 24.0% | 22.2% | -1.8 | 27.5% |
| Overseas finance business | 20.0% | 22.8% | 2.8 | 33.9% |
| Loan servicing business | 2.1% | 1.3% | -0.8 | 18.7% |
| Other | 0.0% | 0.3% | 0.3 | 303.9% |

Segment → industry: Loan servicing business → Consumer Finance / Overseas finance business → Consumer Finance / Guarantee business → Consumer Finance / Loan and credit card business → Consumer Finance / Other → Business Process Outsourcing

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 12,096 | 3.6% | S100YBXA |
| Capital expenditure | 5,834 | 1.7% | S100YBXA |
| Free cash flow | 6,262 | 1.9% | 算出 |
| Investing cash flow | -4,910 | -1.5% | S100YBXA |
| Financing cash flow | 13,105 | 3.9% | S100YBXA |
| Dividends paid | 26,634 | 7.9% | S100YBXA |
| Share buyback | 0 | 0.0% | S100YBXA |
| Change in cash | 20,239 | 6.0% | S100YBXA |
| Cash and equivalents | 80,397 | 23.8% | S100YBXA |

## 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 | 74,242 | 57,666 | 71,900 | 60,157 | 80,397 | S100TO17, S100VZEV, S100YBXA |
| Total assets | 1,263,296 | 1,297,316 | 1,417,403 | 1,486,409 | 1,616,379 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Net assets | 563,963 | 619,837 | 674,175 | 709,035 | 782,455 | S100TO17, S100VZEV, S100YBXA |
| Share capital | 63,832 | 63,832 | 63,832 | 63,832 | 63,832 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Property, plant and equipment | 12,590 | 7,556 | 8,384 | 7,614 | 5,941 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Intangible assets excluding goodwill | 7,152 | 7,606 | 8,985 | 11,359 | 14,770 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Goodwill | 1,252 | 734 | 215 | — | — | S100QZYR, S100TO17, S100VZEV |
| Investment securities | 1,238 | 1,396 | 1,414 | 1,454 | 1,479 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Current assets | 1,153,999 | 1,205,491 | 1,330,190 | 1,408,775 | 1,521,592 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Current liabilities | 230,355 | 222,491 | 275,732 | 299,224 | 409,409 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Trade payables | 797 | 344 | 769 | 816 | 609 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Short-term borrowings | 15,284 | 18,528 | 19,242 | 16,054 | 13,440 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Long-term borrowings | 257,899 | 298,857 | 325,553 | 277,848 | 261,857 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Bonds | 119,010 | 91,660 | 104,086 | 145,727 | 114,660 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Interest-bearing debt | 392,193 | 409,045 | 448,881 | 439,629 | 389,957 | 算出 |
| Total liabilities | 699,333 | 677,478 | 743,228 | 777,374 | 833,924 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Non-controlling interests | 32,082 | 38,750 | 46,164 | 55,473 | 63,435 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Equity attributable to owners of parent | 526,857 | 567,683 | 603,543 | 615,301 | 668,304 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Retained earnings | 393,163 | 433,990 | 469,849 | 481,608 | 534,610 | S100QZYR, S100TO17, S100VZEV, S100YBXA |
| Treasury stock | 0 | 0 | 0 | 0 | 0 | S100QZYR, S100TO17, S100VZEV, S100YBXA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 5% | S100YBXA |
| Property, plant and equipment | 0% | S100YBXA |
| Intangibles and goodwill | 1% | S100YBXA |
| Investment securities | 0% | S100YBXA |
| Other assets | 94% | S100YBXA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 0% | S100YBXA |
| Interest-bearing debt | 24% | 算出 |
| Other liabilities | 28% | S100YBXA |
| Equity | 48% | S100YBXA |

### 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 | 1,263,296 | 1,297,316 | 1,417,403 | 1,486,409 | 1,616,379 |
| Equity | 563,963 | 619,837 | 674,175 | 709,035 | 782,455 |
| Interest-bearing debt | 392,193 | 409,045 | 448,881 | 439,629 | 389,957 |
| Cash | 74,242 | 57,666 | 71,900 | 60,157 | 80,397 |

## 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) | 1.8% | S100YBXA |
| Fixed assets ÷ total assets | 0.4% | S100YBXA |
| Goodwill ÷ parent equity | — | —, S100YBXA |

### 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) | 5.0% |
| Cash ÷ revenue | 23.8% |
| Net cash (cash − interest-bearing debt) | -¥309.6B |
| Net debt ÷ operating cash flow | 25.59× |
| Cash conversion (operating CF ÷ operating income) | 12.0% |
| Cash vs. profit gap | -67,539 JPY mn (of net income -84.8%) |
| Shareholder returns / net income | 33.4% |
| Shareholder returns / FCF | 425.3% |
| Shareholder payments — dividends / net income | 33.4% |
| Shareholder payments — dividends / FCF | 425.3% |
| CapEx intensity (capex ÷ revenue) | 1.7% |
| Investing CF relative to operating CF | 40.6% |

## 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 | 21.2% | 0.21× | 4.4% | 2.40× | 10.6% | S100QZYR, S100YBXA |
| 2023 | 20.1% | 0.21× | 4.3% | 2.34× | 10.0% | S100TO17, S100YBXA |
| 2024 | 18.0% | 0.22× | 3.9% | 2.32× | 9.1% | S100VZEV, S100YBXA |
| 2025 | 10.1% | 0.22× | 2.2% | 2.38× | 5.3% | S100YBXA |
| 2026 | 23.6% | 0.22× | 5.1% | 2.42× | 12.4% | S100YBXA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社三菱ＵＦＪフィナンシャル・グループ | Major shareholder | 37.6% | 2026-03-31 |
| 丸糸殖産株式会社 | Major shareholder | 17.4% | 2026-03-31 |
| マルイト株式会社 | Major shareholder | 8.0% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 7.3% | 2026-03-31 |
| 公益財団法人木下記念事業団 | Major shareholder | 5.9% | 2026-03-31 |
| 株式会社丸糸商店 | Major shareholder | 2.5% | 2026-03-31 |
| 三菱ＵＦＪ信託銀行株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.0% | 2026-03-31 |
| ＭＡＳＡ＆ＣＯＭＰＡＮＹ株式会社 | Major shareholder | 0.7% | 2026-03-31 |
| 野村信託銀行株式会社（退職給付信託・三菱ＵＦＪ信託銀行口） | Major shareholder | 0.6% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for the FY ending Mar 2026 was ¥337.7B, up +6.3% from ¥317.7B.
- Profits grew much faster: operating income rose +71.4% from ¥58.6B to ¥100.4B, and net income rose +147.9% from ¥32.1B to ¥79.6B.
- Operating cash flow climbed from ¥876M to ¥12.1B, and free cash flow turned positive at ¥6.26B after a negative prior year.

### Drivers

- More loans outstanding brought in more interest income
- Smaller provisions for refunds of past excess interest cut operating expenses
- A change in how the company's deferred tax assets are classified lowered its tax charge and lifted net income

### Risks

- Borrowers may fall behind on payments if the economy or regulations change, raising credit costs
- Refund claims for past excess interest could exceed expectations, or courts could rule against lenders
- Rules in Thailand and other markets, Middle East tensions and currency swings could weigh on the overseas business

Cited: Annual Securities Report, 49th fiscal period (Apr 2025 - Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 49th fiscal period (Apr 2025 - Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第49期(2025/04/01－2026/03/31) | S100YBXA | 2026-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YBXA,, |
| 有価証券報告書－第48期(2024/04/01－2025/03/31) | S100VZEV | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZEV,, |
| 有価証券報告書－第47期(2023/04/01－2024/03/31) | S100TO17 | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TO17,, |
| 有価証券報告書－第46期(2022/04/01－2023/03/31) | S100QZYR | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZYR,, |
| 有価証券報告書－第45期(令和3年4月1日－令和4年3月31日) | S100OAR4 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OAR4,, |
| 訂正有価証券報告書－第44期(令和2年4月1日－令和3年3月31日) | S100MPJZ | 2021-11-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MPJZ,, |

## 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).