# AMIYA Corporation: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第30期(2025/01/01－2025/12/31) (S100Y1NN)
> Page: https://vizora.meequs.com/en/company/amiya
> Retrieved: 2026-09-30T21:30:09.477Z

## Company

Amiya, founded in 1996, is a company in Cybersecurity listed on TSE Growth. It has 252 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AMIYA Corporation |
| Ticker | 4258 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4258.T) |
| Listing | TSE Growth |
| Head office | 東京都中央区日本橋浜町三丁目3番2号 |
| Representative (per filing) | 代表取締役社長 石田 晃太 |
| Founded | Dec 1996 |
| Share capital | ¥66M |
| Employees (consolidated) | 252 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | December |
| Website | www.amiya.co.jp (https://www.amiya.co.jp/) |
| Corporate number | 8010001036654 |
| EDINET | E37160 |
| Industries (Vizora) | Cybersecurity |

> Profile source: annual securities report (S100Y1NN, filed 2026-04-30). As of filing

## Five-axis industry profile

Primary industry: Cybersecurity (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 60.3 | 29 |
| Cash conversion | 64.8 | 27 |
| Efficiency | 53.4 | 29 |

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 58% of Amiya's sales come from Network security business unit, with Data security business unit making up much of the rest.
- Out of every ¥100 of sales, about ¥18 is left as operating profit.
- Revenue changed +24.5% from the prior year, operating profit +99.8%.

## Company structure

- Segment revenue mix: Network security business unit 58.2%、Data security business unit 41.8%
- Revenue → net income: ¥5936430000 → ¥752185000
- Net income → operating cash flow: ¥752185000 → ¥1301692000（difference ¥549507000）
- Main uses of operating cash flow: CapEx ¥45030000 / dividends — / buybacks ¥550109000
- Change in cash: ¥982888000
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 | ¥5.94B |  |
| Operating income | ¥1.05B | Margin 17.7% |
| Net income | ¥751.7M | Margin 12.7% |
| Free cash flow | ¥1.26B |  |
| Largest business | Network security business unit | of segment revenue 58.2% |
| Employees (consolidated) | 252 |  |
| EPS | ¥89.24 |  |
| Diluted EPS | ¥86.82 |  |
| Book value per share | ¥329.41 |  |
| Equity ratio | 40.8% |  |
| Shares outstanding | 8,830,400 |  |
| Treasury shares | 316,500 |  |
| Shareholders | 3,254 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 65.6% | Cash ÷ revenue 76.6% |
| Vs. industry median margin | +3.3 pp | Cybersecurity |
| ROE | 30.7% | Derived from disclosed figures |
| ROA | 12.2% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 66% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2314581000 | ¥5936430000 | — |
| Operating income | ¥186924000 | ¥1051604000 | — |
| Operating margin | 8.1% | 17.7% | +9.6 pp |
| Employees | 111 people | 252 people | — |
| Cash and equivalents | ¥921819000 | ¥4549867000 | — |

### Change in segment revenue mix

Span: FY ending Dec 2020 → 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 |
| --- | ---: |
| データセキュリティ事業 → 事業再編・廃止 | 45.4% |
| ネットワークセキュリティ事業 → 事業再編・廃止 | 54.6% |
| 新設・再編 → データセキュリティ事業 | 41.8% |
| 新設・再編 → ネットワークセキュリティ事業 | 58.2% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,936 | 100.0% | S100Y1NN |
| Cost of revenue | 3,094 | 52.1% | S100Y1NN |
| Gross profit | 2,842 | 47.9% | S100Y1NN |
| SG&A | 1,791 | 30.2% | S100Y1NN |
| Operating income | 1,052 | 17.7% | S100Y1NN |
| Ordinary income | 1,049 | 17.7% | S100Y1NN |
| Pretax income | 1,027 | 17.3% | S100Y1NN |
| Income tax | 275 | 4.6% | S100Y1NN |
| Net income | 752 | 12.7% | S100Y1NN |
| Net income attributable to owners | 752 | 12.7% | S100Y1NN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 52 |
| SG&A | 30 |
| Operating income | 18 |
| (Ref.) Net income | 13 |

### Margin funnel

Gross margin 47.9% → Operating margin 17.7% → Net margin 12.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +24.5%; Core profit growth: +99.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.07×
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 | 4,768 | 5,936 | 1,169 | +24.5% |
| Gross profit | 1,962 | 2,842 | 880 | +44.9% |
| Operating income | 526 | 1,052 | 525 | +99.8% |
| Net income attributable to owners | 385 | 752 | 367 | +95.3% |
| Operating cash flow | 1,176 | 1,302 | 125 | +10.6% |
| Free cash flow | 1,121 | 1,257 | 136 | +12.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2020 | 2,315 | 187 | 8.1% | 126 | 273 | 176 | S100NRBC |
| FY ending Dec 2021 | 2,761 | 260 | 9.4% | 184 | 299 | 264 | S100QIEC |
| FY ending Dec 2022 | 2,986 | 264 | 8.8% | 230 | -111 | -195 | S100QIEC |
| FY ending Dec 2023 | 3,559 | 364 | 10.2% | 326 | 529 | 326 | S100VGPL |
| FY ending Dec 2024 | 4,768 | 526 | 11.0% | 385 | 1,176 | 1,121 | S100Y1NN |
| FY ending Dec 2025 | 5,936 | 1,052 | 17.7% | 752 | 1,302 | 1,257 | S100Y1NN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥23.6M |
| Operating income per employee (consolidated) | ¥4.2M |
| Net income per employee (consolidated) | ¥3M |

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) | 125 | 130 | 182 | 196 | 252 |
| Average salary (parent company) | ¥6.2M | ¥5.7M | ¥6M | ¥5.6M | ¥6M |
| Average age (parent company) | 37.2 years | 37.2 years | 36.1 years | 35.4 years | 34.0 years |
| Average tenure (parent company) | 5.5 years | 5.4 years | 5.4 years | 5.7 years | 5.2 years |

Year over year: Employees (consolidated) +28.6% · Revenue (consolidated) +24.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Data security business unit | 2,481 | 41.8% | 1,024 | 41.3% |
| Network security business unit | 3,456 | 58.2% | 1,008 | 29.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Data security business unit | 41.8% | 50.4% | 8.6 | 41.3% |
| Network security business unit | 58.2% | 49.6% | -8.6 | 29.2% |

Segment → industry: Network security business unit → Cybersecurity / Data security business unit → Cybersecurity

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,302 | 21.9% | S100Y1NN |
| Capital expenditure | 45 | 0.8% | S100Y1NN |
| Free cash flow | 1,257 | 21.2% | 算出 |
| Investing cash flow | -86 | -1.4% | S100Y1NN |
| Financing cash flow | -234 | -3.9% | S100Y1NN |
| Share buyback | 550 | 9.3% | S100Y1NN |
| Change in cash | 983 | 16.6% | S100Y1NN |
| Cash and equivalents | 4,550 | 76.6% | S100Y1NN |

## 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 | 1,893 | 1,371 | 1,898 | 3,567 | 4,550 | S100QIEC, S100Y1NN |
| Total assets | 2,849 | 2,795 | 3,777 | 5,415 | 6,941 | S100QIEC, S100VGPL, S100Y1NN |
| Net assets | 1,436 | 1,421 | 1,786 | 2,132 | 2,834 | S100QIEC, S100Y1NN |
| Share capital | 50 | 56 | 61 | 62 | 66 | S100QIEC, S100VGPL, S100Y1NN |
| Property, plant and equipment | 46 | 65 | 135 | 101 | 82 | S100QIEC, S100VGPL, S100Y1NN |
| Intangible assets excluding goodwill | 99 | 100 | 182 | 151 | 170 | S100QIEC, S100VGPL, S100Y1NN |
| Goodwill | — | — | 56 | 48 | 87 | S100VGPL, S100Y1NN |
| Investment securities | 2 | 2 | 163 | 278 | 316 | S100QIEC, S100VGPL, S100Y1NN |
| Current assets | 2,469 | 2,388 | 3,109 | 4,697 | 6,126 | S100QIEC, S100VGPL, S100Y1NN |
| Current liabilities | 1,190 | 1,190 | 1,729 | 2,962 | 3,900 | S100QIEC, S100VGPL, S100Y1NN |
| Short-term borrowings | — | — | 100 | 700 | 700 | S100VGPL, S100Y1NN |
| Long-term borrowings | 55 | — | 211 | 214 | 92 | S100QIEC, S100VGPL, S100Y1NN |
| Total liabilities | 1,414 | 1,375 | 1,991 | 3,283 | 4,107 | S100QIEC, S100VGPL, S100Y1NN |
| Non-controlling interests | — | — | — | — | 4 | S100Y1NN |
| Equity attributable to owners of parent | 1,436 | 1,421 | 1,780 | 2,116 | 2,788 | S100QIEC, S100VGPL, S100Y1NN |
| Retained earnings | 624 | 854 | 1,180 | 1,565 | 2,316 | S100QIEC, S100VGPL, S100Y1NN |
| Treasury stock | — | -242 | -197 | -252 | -497 | S100QIEC, S100VGPL, S100Y1NN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 66% | S100Y1NN |
| Property, plant and equipment | 1% | S100Y1NN |
| Intangibles and goodwill | 4% | S100Y1NN |
| Investment securities | 4% | S100Y1NN |
| Other assets | 25% | S100Y1NN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 59% | S100Y1NN |
| Equity | 41% | S100Y1NN |
| Other liabilities | 0% | S100Y1NN |

### 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 | 2,849 | 2,795 | 3,777 | 5,415 | 6,941 |
| Equity | 1,436 | 1,421 | 1,786 | 2,132 | 2,834 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,893 | 1,371 | 1,898 | 3,567 | 4,550 |

## 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) | 1.4% | S100Y1NN |
| Fixed assets ÷ total assets | 1.2% | S100Y1NN |
| Goodwill ÷ parent equity | 3.1% | S100Y1NN |

### 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) | 65.6% |
| Cash ÷ revenue | 76.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 123.8% |
| Cash vs. profit gap | 550 JPY mn (of net income 73.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.8% |
| Investing CF relative to operating CF | 6.6% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 6.7% | 0.97× | 6.4% | 1.98× | 12.8% | S100QIEC |
| 2022 | 7.7% | 1.06× | 8.1% | 1.98× | 16.1% | S100QIEC |
| 2023 | 9.1% | 0.94× | 8.6% | 2.12× | 18.3% | S100VGPL |
| 2024 | 8.1% | 1.04× | 8.4% | 2.36× | 19.8% | S100Y1NN |
| 2025 | 12.7% | 0.96× | 12.2% | 2.52× | 30.7% | S100Y1NN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社チャクル | Major shareholder | 27.4% | 2025-12-31 |
| 石田 晃太 | Major shareholder | 13.1% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.7% | 2025-12-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 4.3% | 2025-12-31 |
| グローバルセキュリティエキスパート株式会社 | Major shareholder | 4.1% | 2025-12-31 |
| 伊藤 整一 | Major shareholder | 3.6% | 2025-12-31 |
| 網屋従業員持株会 | Major shareholder | 3.0% | 2025-12-31 |
| 新納 隆広 | Major shareholder | 1.9% | 2025-12-31 |
| 山崎 勝巳 | Major shareholder | 1.7% | 2025-12-31 |
| NTTドコモビジネス株式会社 | Major shareholder | 1.6% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第30期(2025/01/01－2025/12/31) | S100Y1NN | 2026-04-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y1NN,, |
| 有価証券報告書－第29期(2024/01/01－2024/12/31) | S100VGPL | 2025-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VGPL,, |
| 有価証券報告書－第28期(2023/01/01－2023/12/31) | S100T5K0 | 2024-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T5K0,, |
| 有価証券報告書－第27期(2022/01/01－2022/12/31) | S100QIEC | 2023-03-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QIEC,, |
| 有価証券報告書－第26期(令和3年1月1日－令和3年12月31日) | S100NRBC | 2022-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NRBC,, |

## 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).