# AMBITION DX HOLDINGS Co., Ltd.: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第19期(2025/07/01－2026/06/30) (S100Z3CP)
> Page: https://vizora.meequs.com/en/company/ambition-dx-holdings
> Retrieved: 2026-09-30T21:11:51.147Z

## Company

Ambition DX Holdings, founded in 2007, is a company in Real Estate Development & Leasing listed on TSE Growth. It has 417 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AMBITION DX HOLDINGS Cо., Ltd. |
| Ticker | 3300 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3300.T) |
| Listing | TSE Growth |
| Head office | 東京都渋谷区恵比寿四丁目20番3号 |
| Representative (per filing) | 代表取締役社長 清水 剛 |
| Founded | Sep 2007 |
| Share capital | ¥542M |
| Employees (consolidated) | 417 |
| Average salary (parent only) | ¥5.5M |
| Fiscal year end | June |
| Website | www.am-bition.jp (https://www.am-bition.jp/) |
| Corporate number | 4011001072940 |
| EDINET | E30880 |
| Industries (Vizora) | Real Estate Development & Leasing, Real Estate Brokerage & Management, Condominium Developers |

> Profile source: annual securities report (S100Z3CP, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Real Estate Development & Leasing (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 54 | 75 |
| Profitability | 29.7 | 86 |
| Cash conversion | 39.6 | 82 |
| Efficiency | 87.8 | 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 52% of Ambition DX Holdings's sales come from Sales/Purchase DX Investment Business, with Leasing DX Property Management Business and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +3.4% from the prior year, operating profit +4.5%.

## Company structure

- Segment revenue mix: Sales/Purchase DX Investment Business 51.6%、Leasing DX Property Management Business 43.7%、Other 2.7%、(Leasing DX Leasing Brokerage Business 2.0%
- Revenue → net income: ¥54131222000 → ¥2051371000
- Net income → operating cash flow: ¥2051371000 → ¥540687000（difference ¥-1510684000）
- Main uses of operating cash flow: CapEx ¥3598796000 / dividends ¥748716000 / buybacks —
- Change in cash: ¥1000006000
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 | ¥54.1B |  |
| Operating income | ¥4.12B | Margin 7.6% |
| Net income | ¥2.05B | Margin 3.8% |
| Free cash flow | -¥3.06B |  |
| Largest business | Sales/Purchase DX Investment Business | of segment revenue 51.6% |
| Employees (consolidated) | 417 |  |
| EPS | ¥211.58 |  |
| Diluted EPS | ¥200.2 |  |
| Book value per share | ¥912.88 |  |
| Equity ratio | 21.2% |  |
| Shares outstanding | 7,420,600 |  |
| Shareholders | 2,999 |  |
| Average salary (parent only) | ¥5.5M | Filing company only |
| Cash ratio | 20.7% | Cash ÷ revenue 17.6% |
| Vs. industry median margin | -2.9 pp | Real Estate Development & Leasing |
| ROE | 22.7% | Derived from disclosed figures |
| ROA | 4.8% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +25% over five years

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥30529613000 | ¥54131222000 | +77.3% |
| Operating income | ¥978053000 | ¥4124996000 | +321.8% |
| Operating margin | 3.2% | 7.6% | +4.4 pp |
| Employees | 273 people | 417 people | +52.7% |
| Cash and equivalents | ¥3699130000 | ¥9502274000 | +156.9% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| プロパティマネジメント事業 → 事業再編・廃止 | 50.8% |
| 賃貸仲介事業 → 事業再編・廃止 | 2.4% |
| インベスト事業 → 事業再編・廃止 | 45.3% |
| その他 → その他 | 1.5% |
| 新設・再編 → 賃貸DXプロパティマネジメント事業 | 43.7% |
| 新設・再編 → 賃貸DX賃貸仲介事業 | 2.0% |
| 新設・再編 → 売買DXインベスト事業 | 51.6% |
| 新設・再編 → その他 | 1.2% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Sales/Purchase DX Investment Business | 4 years | +21.9% | ¥27916460000 | 13.0% | 2 |
| Leasing DX Property Management Business | 4 years | +8.3% | ¥23656199000 | 13.4% | 2 |
| Other | 5 years | +26.5% | ¥1475402000 | -10.0% | 2 |
| (Leasing DX Leasing Brokerage Business | 4 years | +9.2% | ¥1083158000 | 7.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 54,131 | 100.0% | S100Z3CP |
| Cost of revenue | 43,163 | 79.7% | S100Z3CP |
| Gross profit | 10,968 | 20.3% | S100Z3CP |
| SG&A | 6,843 | 12.6% | S100Z3CP |
| Operating income | 4,125 | 7.6% | S100Z3CP |
| Ordinary income | 3,508 | 6.5% | S100Z3CP |
| Pretax income | 3,313 | 6.1% | S100Z3CP |
| Income tax | 1,262 | 2.3% | S100Z3CP |
| Net income | 2,051 | 3.8% | S100Z3CP |
| Net income attributable to owners | 2,046 | 3.8% | S100Z3CP |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 80 |
| SG&A | 13 |
| Operating income | 7 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 20.3% → Operating margin 7.6% → Net margin 3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.4%; Core profit growth: +4.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.35×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 52,372 | 54,131 | 1,759 | +3.4% |
| Gross profit | 10,648 | 10,968 | 320 | +3.0% |
| Operating income | 3,946 | 4,125 | 179 | +4.5% |
| Net income attributable to owners | 2,351 | 2,046 | -305 | -13.0% |
| Operating cash flow | 16 | 541 | 524 | +3193.3% |
| Free cash flow | -5,516 | -3,058 | 2,458 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 27,414 | 922 | 3.4% | 328 | 1,611 | 411 | S100MIK9 |
| FY ending Jun 2021 | 30,530 | 978 | 3.2% | 595 | -1,243 | -2,532 | S100P8ZH |
| FY ending Jun 2022 | 31,608 | 1,499 | 4.7% | 826 | 4,102 | 2,621 | S100RWGS |
| FY ending Jun 2023 | 36,239 | 1,604 | 4.4% | 961 | 2,283 | -1,744 | S100UG56 |
| FY ending Jun 2024 | 42,065 | 2,726 | 6.5% | 1,638 | -977 | -4,254 | S100WQFJ |
| FY ending Jun 2025 | 52,372 | 3,946 | 7.5% | 2,351 | 16 | -5,516 | S100Z3CP |
| FY ending Jun 2026 | 54,131 | 4,125 | 7.6% | 2,046 | 541 | -3,058 | S100Z3CP |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥129.8M |
| Operating income per employee (consolidated) | ¥9.9M |
| Net income per employee (consolidated) | ¥4.9M |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 299 | 340 | 354 | 399 | 417 |
| Average salary (parent company) | ¥4.4M | ¥4.9M | ¥5.1M | ¥5.5M | ¥5.5M |
| Average age (parent company) | 34.0 years | 34.0 years | 34.0 years | 34.0 years | 32.5 years |
| Average tenure (parent company) | 3.7 years | 3.7 years | 3.9 years | 3.9 years | 3.6 years |

Year over year: Employees (consolidated) +4.5% · Revenue (consolidated) +3.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Leasing DX Property Management Business | 23,656 | 43.7% | 3,170 | 13.4% |
| (Leasing DX Leasing Brokerage Business | 1,083 | 2.0% | 79 | 7.3% |
| Sales/Purchase DX Investment Business | 27,916 | 51.6% | 3,630 | 13.0% |
| Other | 1,475 | 2.7% | -147 | -10.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Leasing DX Property Management Business | 43.7% | 46.1% | 2.4 | 13.4% |
| (Leasing DX Leasing Brokerage Business | 2.0% | 1.1% | -0.9 | 7.3% |
| Sales/Purchase DX Investment Business | 51.6% | 52.8% | 1.2 | 13.0% |
| Other | 2.7% | — | — | -10.0% |

Loss-making segment (excluded from profit shares): Other -147 JPY mn

Segment → industry: Sales/Purchase DX Investment Business → Real Estate Development & Leasing / (Leasing DX Leasing Brokerage Business → Real Estate Brokerage & Management / Leasing DX Property Management Business → Real Estate Brokerage & Management / Sales/Purchase DX Investment Business → Condominium Developers

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 541 | 1.0% | S100Z3CP |
| Capital expenditure | 3,599 | 6.6% | S100Z3CP |
| Free cash flow | -3,058 | -5.6% | 算出 |
| Investing cash flow | -3,682 | -6.8% | S100Z3CP |
| Financing cash flow | 4,140 | 7.6% | S100Z3CP |
| Dividends paid | 749 | 1.4% | S100Z3CP |
| Change in cash | 1,000 | 1.8% | S100Z3CP |
| Cash and equivalents | 9,502 | 17.6% | S100Z3CP |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 5,149 | 5,572 | 5,188 | 8,502 | 9,502 | S100UG56, S100WQFJ, S100Z3CP |
| Total assets | 17,037 | 20,517 | 26,893 | 39,308 | 45,861 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Net assets | 3,744 | 4,601 | 6,151 | 8,363 | 9,771 | S100UG56, S100WQFJ, S100Z3CP |
| Share capital | 380 | 402 | 428 | 482 | 542 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Property, plant and equipment | 1,473 | 3,464 | 4,082 | 6,616 | 6,384 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Intangible assets excluding goodwill | 849 | 1,103 | 964 | 990 | 673 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Goodwill | 706 | 909 | 734 | 558 | 237 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Investment securities | 22 | 97 | 18 | 18 | 18 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Current assets | 13,680 | 14,902 | 20,654 | 30,255 | 37,306 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Current liabilities | 6,728 | 8,522 | 8,344 | 16,663 | 21,182 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Short-term borrowings | 886 | 2,200 | 3,038 | 7,518 | 10,268 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Long-term borrowings | 5,748 | 6,554 | 11,564 | 13,181 | 13,646 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Bonds | 92 | 50 | 17 | — | — | S100RWGS, S100UG56, S100WQFJ |
| Interest-bearing debt | 6,726 | 8,804 | 14,619 | — | — | 算出 |
| Total liabilities | 13,292 | 15,916 | 20,742 | 30,945 | 36,090 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Non-controlling interests | 11 | 14 | 17 | 20 | 26 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Equity attributable to owners of parent | 3,703 | 4,577 | 6,117 | 8,319 | 9,736 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Retained earnings | 2,859 | 3,691 | 5,178 | 7,272 | 8,570 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100RWGS, S100UG56, S100WQFJ, S100Z3CP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 21% | S100Z3CP |
| Property, plant and equipment | 14% | S100Z3CP |
| Intangibles and goodwill | 2% | S100Z3CP |
| Investment securities | 0% | S100Z3CP |
| Other assets | 63% | S100Z3CP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 79% | S100Z3CP |
| Equity | 21% | S100Z3CP |
| Other liabilities | 0% | S100Z3CP |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 17,037 | 20,517 | 26,893 | 39,308 | 45,861 |
| Equity | 3,744 | 4,601 | 6,151 | 8,363 | 9,771 |
| Interest-bearing debt | 6,726 | 8,804 | 14,619 | — | — |
| Cash | 5,149 | 5,572 | 5,188 | 8,502 | 9,502 |

## 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) | 11.8% | S100Z3CP |
| Fixed assets ÷ total assets | 13.9% | S100Z3CP |
| Goodwill ÷ parent equity | 2.4% | S100Z3CP |

Goodwill over 4 years: 706 → 237 JPY; total investing cash flow: -18,082 JPY. This does not imply causation.

### 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) | 20.7% |
| Cash ÷ revenue | 17.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 13.1% |
| Cash vs. profit gap | -1,505 JPY mn (of net income -73.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 36.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 6.6% |
| Investing CF relative to operating CF | 681.0% |

## 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 | 2.6% | 1.86× | 4.8% | 4.60× | 22.3% | S100RWGS |
| 2023 | 2.7% | 1.93× | 5.1% | 4.54× | 23.2% | S100UG56 |
| 2024 | 3.9% | 1.77× | 6.9% | 4.43× | 30.6% | S100WQFJ |
| 2025 | 4.5% | 1.58× | 7.1% | 4.59× | 32.6% | S100Z3CP |
| 2026 | 3.8% | 1.27× | 4.8% | 4.72× | 22.7% | S100Z3CP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ＴＳコーポレーション | Major shareholder | 38.3% | 2026-06-30 |
| 清水 剛 | Major shareholder | 10.4% | 2026-06-30 |
| 川田 秀樹 | Major shareholder | 2.9% | 2026-06-30 |
| ヨシダ トモヒロ | Major shareholder | 2.8% | 2026-06-30 |
| 加藤 誠悟 | Major shareholder | 2.8% | 2026-06-30 |
| ＡＧキャピタル株式会社 | Major shareholder | 1.5% | 2026-06-30 |
| 大和証券株式会社 | Major shareholder | 1.2% | 2026-06-30 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.1% | 2026-06-30 |
| 東京短資株式会社 | Major shareholder | 0.8% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 0.8% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第19期(2025/07/01－2026/06/30) | S100Z3CP | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3CP,, |
| 有価証券報告書－第18期(2024/07/01－2025/06/30) | S100WQFJ | 2025-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQFJ,, |
| 有価証券報告書－第17期(2023/07/01－2024/06/30) | S100UG56 | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UG56,, |
| 有価証券報告書－第16期(2022/07/01－2023/06/30) | S100RWGS | 2023-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWGS,, |
| 有価証券報告書 | S100P8ZH | 2022-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P8ZH,, |
| 有価証券報告書－第14期(令和2年7月1日－令和3年6月30日) | S100MIK9 | 2021-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MIK9,, |

## 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).