# AI storm CO.,LTD.: business model and financials

> Latest period: FY ending Dec 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第62期(2025/01/01－2025/12/31) (S100XV8F)
> Page: https://vizora.meequs.com/en/company/ai-storm
> Retrieved: 2026-09-30T19:05:04.035Z

## Company

AI storm is a company in IT Services & System Integration listed on TSE Standard. It has 34 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AI storm CO.,LTD. (旧英訳名 GEXEED CO.,LTD.) |
| Ticker | 3719 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3719.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区神田錦町三丁目17番地11 |
| Representative (per filing) | 代表取締役 今井 俊夫 |
| Share capital | ¥458.2M |
| Employees (consolidated) | 34 |
| Average salary (parent only) | ¥6.3M |
| Fiscal year end | December |
| Website | www.ai-storm.co.jp (https://www.ai-storm.co.jp/) |
| Corporate number | 9013201016466 |
| EDINET | E05348 |
| Industries (Vizora) | IT Services & System Integration, Advertising |

> Profile source: annual securities report (S100XV8F, filed 2026-03-30). As of filing

## Five-axis industry profile

Primary industry: Advertising (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 99.1 | 57 |
| Profitability | 77.3 | 86 |
| Cash conversion | 3.3 | 75 |
| Efficiency | 20.3 | 86 |

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)

- About 59% of AI storm's sales come from AIandMortar Business, with Advisory Business and AINew Business making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +86.5% from the prior year, operating profit +108.5%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥2.65B |  |
| Operating income | ¥275.2M | Margin 10.4% |
| Net income | ¥177.8M | Margin 6.7% |
| Free cash flow | -¥1.23B |  |
| Largest business | AIandMortar Business | of segment revenue 59.0% |
| Employees (consolidated) | 34 |  |
| EPS | ¥6.93 |  |
| Diluted EPS | ¥6.46 |  |
| Book value per share | ¥74.63 |  |
| Equity ratio | 40.3% |  |
| Shares outstanding | 27,871,000 |  |
| Treasury shares | 518,000 |  |
| Shareholders | 10,900 |  |
| Average salary (parent only) | ¥6.3M | Filing company only |
| Cash ratio | 7.6% | Cash ÷ revenue 14.5% |
| Vs. industry median margin | +4.7 pp | Advertising |
| ROE | 11.1% | Derived from disclosed figures |
| ROA | 4.8% | Derived from disclosed figures |

## Notable figures

- FY2025, employees -3% while operating income rose 109%
- FY2025, one segment accounts for 75% of positive segment profit

## What changed in 4 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Dec 2021 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥480074000 | ¥2653555000 | — |
| Operating income | ¥-63695000 | ¥275164000 | — |
| Operating margin | -13.3% | 10.4% | +23.6 pp |
| Employees | 34 people | 34 people | — |
| Cash and equivalents | ¥700428000 | ¥384100000 | — |

### Change in segment revenue mix

Span: FY ending Dec 2021 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → AIアドバイザリー事業 | 37.3% |
| 新設・再編 → AI＆モルタル事業 | 59.0% |
| 新設・再編 → AIニュービジネス事業 | 3.8% |

Segment revenue source references: 3 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| AIandMortar Business | — | — | ¥1564669000 | 28.4% | 2 |
| Advisory Business | — | — | ¥989218000 | 15.2% | 2 |
| AINew Business | — | — | ¥99667000 | -31.7% | 2 |

## Income statement（FY ending Dec 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,654 | 100.0% | S100XV8F |
| Cost of revenue | 1,707 | 64.3% | S100XV8F |
| Gross profit | 946 | 35.7% | S100XV8F |
| SG&A | 671 | 25.3% | S100XV8F |
| Operating income | 275 | 10.4% | S100XV8F |
| Ordinary income | 259 | 9.8% | S100XV8F |
| Pretax income | 268 | 10.1% | S100XV8F |
| Income tax | 90 | 3.4% | S100XV8F |
| Net income | 178 | 6.7% | S100XV8F |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 25 |
| Operating income | 11 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 35.7% → Operating margin 10.4% → Net margin 6.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +86.5%; Core profit growth: +108.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.25×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,423 | 2,654 | 1,231 | +86.5% |
| Gross profit | 389 | 946 | 557 | +143.1% |
| Operating income | 132 | 275 | 143 | +108.5% |
| Operating cash flow | -868 | -1,034 | -166 | — |
| Free cash flow | -1,198 | -1,234 | -35 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 654 | 15 | 2.3% | 6 | 80 | — | S100L1BE |
| FY ending Dec 2020 | 477 | -84 | -17.6% | -86 | -67 | -101 | S100L1BE |
| FY ending Dec 2021 | 480 | -64 | -13.3% | -134 | -74 | — | S100QHYG |
| FY ending Dec 2021 | 496 | -92 | -18.5% | -134 | -74 | -81 | S100NUM9 |
| FY ending Dec 2022 | 643 | 24 | 3.7% | 15 | 45 | 45 | S100T5IZ |
| FY ending Dec 2023 | 671 | 2 | 0.3% | -71 | -116 | -363 | S100VI7X |
| FY ending Dec 2024 | 1,423 | 132 | 9.3% | 148 | -868 | -1,198 | S100XV8F |
| FY ending Dec 2025 | 2,654 | 275 | 10.4% | 178 | -1,034 | -1,234 | S100XV8F |

## People and productivity（FY ending Dec 2025, non-consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥78M |
| Operating income per employee (consolidated) | ¥8.1M |
| Net income per employee (consolidated) | ¥5.2M |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 35 | 28 | 26 | 35 | 34 |
| Average salary (parent company) | ¥6.3M | ¥5.4M | ¥6.2M | ¥6.9M | ¥6.3M |
| Average age (parent company) | 42.1 years | 41.0 years | 40.8 years | 40.1 years | 41.8 years |
| Average tenure (parent company) | 8.8 years | 8.4 years | 8.5 years | 7.4 years | 8.5 years |

Year over year: Employees (consolidated) -2.9% · Revenue (consolidated) +86.5%

## Segments（FY ending Dec 2025, non-consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Advisory Business | 989 | 37.3% | 151 | 15.2% |
| AIandMortar Business | 1,565 | 59.0% | 445 | 28.4% |
| AINew Business | 100 | 3.8% | -32 | -31.7% |
| Other | — | 0.0% | -289 | — |

### 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 | Profit share | Margin |
| --- | ---: | ---: |
| Advisory Business | 25.3% | 15.2% |
| AIandMortar Business | 74.7% | 28.4% |
| AINew Business | — | -31.7% |
| Other | — | — |

Loss-making segment (excluded from profit shares): AINew Business -32 JPY mn

Loss-making segment (excluded from profit shares): Other -289 JPY mn

Segment → industry: Advisory Business → IT Services & System Integration / AIandMortar Business → Advertising

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -1,034 | -38.9% | S100XV8F |
| Capital expenditure | 200 | 7.5% | S100XV8F |
| Free cash flow | -1,234 | -46.5% | 算出 |
| Investing cash flow | -181 | -6.8% | S100XV8F |
| Financing cash flow | 1,343 | 50.6% | S100XV8F |
| Share buyback | 34 | 1.3% | S100XV8F |
| Change in cash | 129 | 4.9% | S100XV8F |
| Cash and equivalents | 384 | 14.5% | S100XV8F |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 705 | 698 | 681 | 255 | 384 | S100NUM9, S100VI7X, S100XV8F |
| Total assets | 1,011 | 986 | 1,199 | 2,336 | 5,059 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Net assets | 851 | 856 | 1,104 | 1,181 | 2,058 | S100NUM9, S100VI7X, S100XV8F |
| Share capital | 483 | 483 | 633 | 95 | 458 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Property, plant and equipment | 2 | 2 | 249 | 140 | 147 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Intangible assets excluding goodwill | 3 | 1 | 0 | 0 | 25 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Investment securities | 126 | 116 | 18 | 24 | 30 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Current assets | 850 | 837 | 922 | 2,158 | 4,619 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Current liabilities | 113 | 106 | 71 | 884 | 2,256 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Short-term borrowings | — | — | — | 95 | 728 | S100XV8F |
| Long-term borrowings | 22 | — | — | 242 | 222 | S100NUM9, S100XV8F |
| Total liabilities | 160 | 130 | 95 | 1,155 | 3,002 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Equity attributable to owners of parent | 859 | 874 | 1,103 | 1,171 | 2,041 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Retained earnings | -208 | -193 | -264 | 148 | 325 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |
| Treasury stock | -0 | -0 | -0 | -79 | -114 | S100NUM9, S100T5IZ, S100VI7X, S100XV8F |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100XV8F |
| Property, plant and equipment | 3% | S100XV8F |
| Intangibles and goodwill | 0% | S100XV8F |
| Investment securities | 1% | S100XV8F |
| Other assets | 88% | S100XV8F |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 59% | S100XV8F |
| Equity | 41% | S100XV8F |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,011 | 986 | 1,199 | 2,336 | 5,059 |
| Equity | 851 | 856 | 1,104 | 1,181 | 2,058 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 705 | 698 | 681 | 255 | 384 |

## 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) | 5.5% | S100XV8F |
| Fixed assets ÷ total assets | 2.9% | S100XV8F |
| Goodwill ÷ parent equity | — | —, S100XV8F |

### 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) | 7.6% |
| Cash ÷ revenue | 14.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -375.6% |
| Cash vs. profit gap | -1,211 JPY mn (of net income -681.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 7.5% |
| Investing CF relative to operating CF | — |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | — | —× | -13.2% | —× | — | S100NUM9 |
| 2022 | 2.3% | 0.65× | 1.5% | 1.13× | 1.7% | S100T5IZ |
| 2023 | — | —× | -6.5% | —× | — | S100VI7X |
| 2024 | 10.4% | 0.80× | 8.3% | 1.55× | 13.0% | S100XV8F |
| 2025 | 6.7% | 0.72× | 4.8% | 2.30× | 11.1% | S100XV8F |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| GX PARTNERS CO., LIMITED（常任代理人 三田証券株式会社） | Major shareholder | 21.5% | 2025-12-31 |
| スペース投資事業組合 業務執行組合員 三宅 祐介 | Major shareholder | 5.9% | 2025-12-31 |
| 楽天証券株式会社共有口 代表取締役 楠 雄治 | Major shareholder | 2.9% | 2025-12-31 |
| BOOM SECURITIES (H.K.) LIMITED-CLIENTS' ACCOUNT（常任代理人 マネックス証券株式会社） | Major shareholder | 2.8% | 2025-12-31 |
| 岡三にいがた証券株式会社 | Major shareholder | 2.3% | 2025-12-31 |
| BANK JULIUS BAER AND CO.LTD. SINGAPORE CLIENTS（常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.9% | 2025-12-31 |
| 戸谷 松一 | Major shareholder | 1.8% | 2025-12-31 |
| 株式会社ゼット 代表取締役 細川 憲明 | Major shareholder | 1.7% | 2025-12-31 |
| 蒲田 有利 | Major shareholder | 1.4% | 2025-12-31 |
| 株式会社DMM.com証券 代表取締役 谷川 龍二 | Major shareholder | 1.2% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第62期(2025/01/01－2025/12/31) | S100XV8F | 2026-03-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XV8F,, |
| 有価証券報告書－第61期(2024/01/01－2024/12/31) | S100VI7X | 2025-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VI7X,, |
| 有価証券報告書－第60期(2023/01/01－2023/12/31) | S100T5IZ | 2024-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T5IZ,, |
| 有価証券報告書－第59期(2022/01/01－2022/12/31) | S100QHYG | 2023-03-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QHYG,, |
| 訂正有価証券報告書－第58期(令和3年1月1日－令和3年12月31日) | S100NUM9 | 2022-04-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NUM9,, |
| 有価証券報告書－第57期(令和2年1月1日－令和2年12月31日) | S100L1BE | 2021-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L1BE,, |

## 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).