# Aidma Marketing Communication Corporation: 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47期(2025/04/01－2026/03/31) (S100YEVM)
> Page: https://vizora.meequs.com/en/company/aidma-marketing-communication
> Retrieved: 2026-09-30T20:32:55.031Z

## Company

Aidma Marketing Communication, founded in 1979, is a company in Advertising listed on TSE Standard. It has 185 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Aidma Marketing Communication Corporation |
| Ticker | 9466 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9466.T) |
| Listing | TSE Standard |
| Head office | 富山県富山市豊田町1丁目3番31号 |
| Representative (per filing) | 代表取締役 蛯谷 貴 |
| Founded | Apr 1979 |
| Share capital | ¥513.7M |
| Employees (consolidated) | 185 |
| Average salary (parent only) | ¥4.1M |
| Fiscal year end | March |
| Website | www.e-aidma.co.jp (https://www.e-aidma.co.jp/) |
| Corporate number | 4230001000030 |
| EDINET | E32198 |
| Industries (Vizora) | Advertising |

> Profile source: annual securities report (S100YEVM, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 14.9 | 57 |
| Profitability | 49.4 | 86 |
| Cash conversion | 27.3 | 75 |
| Efficiency | 39 | 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)

- Aidma Marketing Communication brought in ¥4.76B in revenue.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed -14.8% from the prior year, operating profit -25.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥4761878000 → ¥179189000
- Net income → operating cash flow: ¥179189000 → ¥129408000（difference ¥-49781000）
- Main uses of operating cash flow: CapEx ¥28374000 / dividends ¥202125000 / buybacks —
- Change in cash: ¥-624028000
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 | ¥4.76B |  |
| Operating income | ¥268.6M | Margin 5.6% |
| Net income | ¥179.2M | Margin 3.8% |
| Free cash flow | ¥101M |  |
| Employees (consolidated) | 185 |  |
| EPS | ¥12.21 |  |
| Book value per share | ¥250.44 |  |
| Equity ratio | 77.3% |  |
| Shares outstanding | 13,520,000 |  |
| Treasury shares | 416,900 |  |
| Shareholders | 4,081 |  |
| Average salary (parent only) | ¥4.1M | Filing company only |
| Cash ratio | 31.0% | Cash ÷ revenue 28.4% |
| Vs. industry median margin | 0 pp | Advertising |
| ROE | 5.5% | Derived from disclosed figures |
| ROA | 4.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 31% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6095742000 | ¥4761878000 | -21.9% |
| Operating income | ¥212903000 | ¥268589000 | +26.2% |
| Operating margin | 3.5% | 5.6% | +2.1 pp |
| Employees | 256 people | 185 people | -27.7% |
| Cash and equivalents | ¥1485065000 | ¥1354060000 | -8.8% |

### 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, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,762 | 100.0% | S100YEVM |
| Cost of revenue | 3,545 | 74.5% | S100YEVM |
| Gross profit | 1,216 | 25.5% | S100YEVM |
| SG&A | 948 | 19.9% | S100YEVM |
| Operating income | 269 | 5.6% | S100YEVM |
| Ordinary income | 273 | 5.7% | S100YEVM |
| Pretax income | 273 | 5.7% | S100YEVM |
| Income tax | 94 | 2.0% | S100YEVM |
| Net income | 179 | 3.8% | S100YEVM |
| Net income attributable to owners | 179 | 3.8% | S100YEVM |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 74 |
| SG&A | 20 |
| Operating income | 6 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 25.5% → Operating margin 5.6% → Net margin 3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -14.8%; Core profit growth: -25.3%
Operating leverage (core profit growth ÷ revenue growth): 1.72×
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 | 5,586 | 4,762 | -824 | -14.8% |
| Gross profit | 1,392 | 1,216 | -176 | -12.6% |
| Operating income | 360 | 269 | -91 | -25.3% |
| Net income attributable to owners | 473 | 179 | -294 | -62.1% |
| Operating cash flow | 233 | 129 | -103 | -44.4% |
| Free cash flow | 214 | 101 | -113 | -52.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 9,373 | 738 | 7.9% | 544 | 488 | 166 | S100LW21 |
| FY ending Mar 2021 | 6,096 | 213 | 3.5% | -415 | 372 | 94 | S100OMPW |
| FY ending Mar 2022 | 6,117 | 234 | 3.8% | 63 | 238 | 162 | S100R9IW |
| FY ending Mar 2023 | 5,955 | 318 | 5.3% | -132 | 367 | 317 | S100TWJC |
| FY ending Mar 2024 | 5,838 | 302 | 5.2% | 158 | 300 | 234 | S100W7R1 |
| FY ending Mar 2025 | 5,586 | 360 | 6.4% | 473 | 233 | 214 | S100YEVM |
| FY ending Mar 2026 | 4,762 | 269 | 5.6% | 179 | 129 | 101 | S100YEVM |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥25.7M |
| Operating income per employee (consolidated) | ¥1.5M |
| Net income per employee (consolidated) | ¥968.6K |

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) | 221 | 219 | 227 | 194 | 185 |
| Average salary (parent company) | ¥3.5M | ¥3.6M | ¥4M | ¥4M | ¥4.1M |
| Average age (parent company) | 37.9 years | 37.4 years | 37.3 years | 37.4 years | 37.3 years |
| Average tenure (parent company) | 9.6 years | 9.6 years | 9.6 years | 9.8 years | 9.8 years |

Year over year: Employees (consolidated) -4.6% · Revenue (consolidated) -14.8%

## 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 | 129 | 2.7% | S100YEVM |
| Capital expenditure | 28 | 0.6% | S100YEVM |
| Free cash flow | 101 | 2.1% | 算出 |
| Investing cash flow | -449 | -9.4% | S100YEVM |
| Financing cash flow | -305 | -6.4% | S100YEVM |
| Dividends paid | 202 | 4.2% | S100YEVM |
| Change in cash | -624 | -13.1% | S100YEVM |
| Cash and equivalents | 1,354 | 28.4% | S100YEVM |

## 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 | 1,688 | 1,900 | 1,953 | 1,978 | 1,354 | S100TWJC, S100W7R1, S100YEVM |
| Total assets | 4,771 | 4,539 | 4,582 | 4,547 | 4,362 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Net assets | 3,197 | 2,863 | 2,958 | 3,298 | 3,373 | S100TWJC, S100W7R1, S100YEVM |
| Share capital | 514 | 514 | 514 | 514 | 514 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Property, plant and equipment | 478 | 473 | 502 | 475 | 452 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Intangible assets excluding goodwill | 427 | 68 | 47 | 30 | 30 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Goodwill | 357 | — | — | — | — | S100R9IW |
| Investment securities | 582 | 461 | 513 | 501 | 621 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Current assets | 3,084 | 3,359 | 3,377 | 3,072 | 2,879 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Current liabilities | 1,405 | 1,544 | 1,552 | 833 | 678 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Short-term borrowings | 166 | 370 | 370 | — | — | S100R9IW, S100TWJC, S100W7R1 |
| Long-term borrowings | 161 | 123 | 54 | 400 | 300 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Total liabilities | 1,574 | 1,676 | 1,624 | 1,248 | 989 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Equity attributable to owners of parent | 3,179 | 2,864 | 2,904 | 3,253 | 3,236 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Retained earnings | 2,402 | 2,086 | 2,127 | 2,396 | 2,373 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |
| Treasury stock | -200 | -200 | -200 | -120 | -114 | S100R9IW, S100TWJC, S100W7R1, S100YEVM |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 31% | S100YEVM |
| Property, plant and equipment | 10% | S100YEVM |
| Intangibles and goodwill | 1% | S100YEVM |
| Investment securities | 14% | S100YEVM |
| Other assets | 44% | S100YEVM |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 23% | S100YEVM |
| Equity | 77% | S100YEVM |

### 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 | 4,771 | 4,539 | 4,582 | 4,547 | 4,362 |
| Equity | 3,197 | 2,863 | 2,958 | 3,298 | 3,373 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,688 | 1,900 | 1,953 | 1,978 | 1,354 |

## 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) | 9.5% | S100YEVM |
| Fixed assets ÷ total assets | 10.4% | S100YEVM |
| Goodwill ÷ parent equity | — | —, S100YEVM |

### 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) | 31.0% |
| Cash ÷ revenue | 28.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 48.2% |
| Cash vs. profit gap | -50 JPY mn (of net income -27.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 112.8% |
| Shareholder payments — dividends / FCF | 200.1% |
| CapEx intensity (capex ÷ revenue) | 0.6% |
| Investing CF relative to operating CF | 346.7% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 1.0% | 1.28× | 1.3% | 1.50× | 2.0% | S100R9IW |
| 2023 | — | —× | -2.8% | —× | — | S100TWJC |
| 2024 | 2.7% | 1.28× | 3.5% | 1.58× | 5.5% | S100W7R1 |
| 2025 | 8.5% | 1.22× | 10.4% | 1.48× | 15.4% | S100YEVM |
| 2026 | 3.8% | 1.07× | 4.0% | 1.37× | 5.5% | S100YEVM |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社シュリンプバレー | Major shareholder | 40.4% | 2026-03-31 |
| 蛯谷 貴 | Major shareholder | 19.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託Ｅ口） | Major shareholder | 2.8% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 2.3% | 2026-03-31 |
| 飯島 功市郎 | Major shareholder | 1.5% | 2026-03-31 |
| 岡元 信 | Major shareholder | 1.1% | 2026-03-31 |
| 桑原 由治 | Major shareholder | 1.0% | 2026-03-31 |
| 長澤 秀幸 | Major shareholder | 0.9% | 2026-03-31 |
| 株式会社バローホールディングス | Major shareholder | 0.9% | 2026-03-31 |
| アイドマ社員持株会 | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第47期(2025/04/01－2026/03/31) | S100YEVM | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEVM,, |
| 有価証券報告書－第46期(2024/04/01－2025/03/31) | S100W7R1 | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7R1,, |
| 有価証券報告書－第45期(2023/04/01－2024/03/31) | S100TWJC | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWJC,, |
| 有価証券報告書－第44期(2022/04/01－2023/03/31) | S100R9IW | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9IW,, |
| 有価証券報告書－第43期(令和3年4月1日－令和4年3月31日) | S100OMPW | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OMPW,, |
| 有価証券報告書 | S100LW21 | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LW21,, |

## 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).