# ASANTE INCORPORATED: 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53期(2025/04/01－2026/03/31) (S100Y9ZW)
> Page: https://vizora.meequs.com/en/company/asante
> Retrieved: 2026-09-30T20:58:25.585Z

## Company

Asante, founded in 1973, is a company in Home & Lifestyle Services listed on TSE Prime. It has 1,013 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ASANTE INCORPORATED |
| Ticker | 6073 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6073.T) |
| Listing | TSE Prime |
| Head office | 東京都新宿区新宿一丁目33番15号 |
| Representative (per filing) | 代表取締役社長 宮内 征 |
| Founded | Sep 1973 |
| Share capital | ¥1.16B |
| Employees (consolidated) | 1,013 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | March |
| Website | www.asante.co.jp (https://www.asante.co.jp/) |
| Corporate number | 2011101000803 |
| EDINET | E27303 |
| Industries (Vizora) | Home & Lifestyle Services |

> Profile source: annual securities report (S100Y9ZW, filed 2026-06-16). As of filing

## Five-axis industry profile

Primary industry: Home & Lifestyle Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 16.7 | 9 |
| Profitability | 75 | 10 |
| Cash conversion | 25 | 10 |
| Efficiency | 45 | 10 |

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)

- Asante brought in ¥14.4B in revenue.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +2.4% from the prior year, operating profit -31.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥14355750000 → ¥274391000
- Net income → operating cash flow: ¥274391000 → ¥376705000（difference ¥102314000）
- Main uses of operating cash flow: CapEx ¥105814000 / dividends ¥605800000 / buybacks ¥16000
- Change in cash: ¥-354317000
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 | ¥14.4B |  |
| Operating income | ¥835.6M | Margin 5.8% |
| Net income | ¥274.4M | Margin 1.9% |
| Free cash flow | ¥270.9M |  |
| Employees (consolidated) | 1,013 |  |
| EPS | ¥28.69 |  |
| Diluted EPS | ¥25.56 |  |
| Book value per share | ¥976.59 |  |
| Equity ratio | 68.6% |  |
| Shares outstanding | 12,348,500 |  |
| Treasury shares | 2,575,500 |  |
| Shareholders | 67,613 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 48.3% | Cash ÷ revenue 47.0% |
| Vs. industry median margin | +1.5 pp | Home & Lifestyle Services |
| ROE | 2.8% | Derived from disclosed figures |
| ROA | 1.9% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 48% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13872089000 | ¥14355750000 | +3.5% |
| Operating income | ¥1602298000 | ¥835553000 | -47.9% |
| Operating margin | 11.6% | 5.8% | -5.7 pp |
| Employees | 1,049 people | 1,013 people | -3.4% |
| Cash and equivalents | ¥6675208000 | ¥6751814000 | +1.1% |

### 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 | 14,356 | 100.0% | S100Y9ZW |
| Cost of revenue | 4,512 | 31.4% | S100Y9ZW |
| Gross profit | 9,844 | 68.6% | S100Y9ZW |
| SG&A | 9,008 | 62.8% | S100Y9ZW |
| Operating income | 836 | 5.8% | S100Y9ZW |
| Ordinary income | 837 | 5.8% | S100Y9ZW |
| Pretax income | 553 | 3.9% | S100Y9ZW |
| Income tax | 278 | 1.9% | S100Y9ZW |
| Net income | 274 | 1.9% | S100Y9ZW |
| Net income attributable to owners | 274 | 1.9% | S100Y9ZW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 31 |
| SG&A | 63 |
| Operating income | 6 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 68.6% → Operating margin 5.8% → Net margin 1.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +2.4%; Core profit growth: -31.9%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -13.47×
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 | 14,024 | 14,356 | 332 | +2.4% |
| Gross profit | 9,705 | 9,844 | 139 | +1.4% |
| Operating income | 1,226 | 836 | -391 | -31.9% |
| Net income attributable to owners | 688 | 274 | -414 | -60.1% |
| Operating cash flow | 1,120 | 377 | -743 | -66.4% |
| Free cash flow | 1,050 | 271 | -779 | -74.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2021 | 13,872 | 1,602 | 11.6% | 1,063 | 930 | 865 | S100LKU5 |
| FY ending Mar 2022 | 13,700 | 1,324 | 9.7% | 579 | 870 | 832 | S100QYGF |
| FY ending Mar 2023 | 14,141 | 1,380 | 9.8% | 876 | 1,205 | 1,157 | S100TN3A |
| FY ending Mar 2024 | 13,693 | 947 | 6.9% | 541 | 448 | 331 | S100VZ7T |
| FY ending Mar 2025 | 14,024 | 1,226 | 8.7% | 688 | 1,120 | 1,050 | S100Y9ZW |
| FY ending Mar 2026 | 14,356 | 836 | 5.8% | 274 | 377 | 271 | S100Y9ZW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥14.2M |
| Operating income per employee (consolidated) | ¥824.8K |
| Net income per employee (consolidated) | ¥270.9K |

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) | 1,046 | 1,037 | 998 | 983 | 1,013 |
| Average salary (parent company) | ¥5.3M | ¥5.5M | ¥5.6M | ¥5.7M | ¥5.8M |
| Average age (parent company) | 39.2 years | 40.2 years | 41.1 years | 42.1 years | 41.8 years |
| Average tenure (parent company) | 10.9 years | 11.7 years | 12.4 years | 12.9 years | 13.0 years |

Year over year: Employees (consolidated) +3.1% · Revenue (consolidated) +2.4%

## 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 | 377 | 2.6% | S100Y9ZW |
| Capital expenditure | 106 | 0.7% | S100Y9ZW |
| Free cash flow | 271 | 1.9% | 算出 |
| Investing cash flow | -106 | -0.7% | S100Y9ZW |
| Financing cash flow | -625 | -4.4% | S100Y9ZW |
| Dividends paid | 606 | 4.2% | S100Y9ZW |
| Share buyback | 0 | 0.0% | S100Y9ZW |
| Change in cash | -354 | -2.5% | S100Y9ZW |
| Cash and equivalents | 6,752 | 47.0% | S100Y9ZW |

## 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 | 6,657 | 6,658 | 8,719 | 7,106 | 6,752 | S100TN3A, S100VZ7T, S100Y9ZW |
| Total assets | 14,074 | 14,458 | 16,127 | 14,346 | 13,979 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Net assets | 11,558 | 11,731 | 11,743 | 9,745 | 9,608 | S100TN3A, S100VZ7T, S100Y9ZW |
| Share capital | 1,161 | 1,161 | 1,161 | 1,161 | 1,161 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Property, plant and equipment | 4,498 | 4,451 | 4,447 | 4,397 | 4,084 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Intangible assets excluding goodwill | 152 | 125 | 115 | 91 | 83 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Goodwill | 103 | 83 | 64 | 44 | 25 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Investment securities | 121 | 521 | 21 | 21 | 21 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Current assets | 8,810 | 8,831 | 11,067 | 9,351 | 9,223 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Current liabilities | 2,000 | 2,197 | 1,956 | 2,064 | 1,959 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Long-term borrowings | 294 | 227 | 226 | 230 | 228 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Total liabilities | 2,516 | 2,726 | 4,384 | 4,601 | 4,370 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Equity attributable to owners of parent | 11,605 | 11,820 | 11,701 | 9,812 | 9,498 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Retained earnings | 11,618 | 11,813 | 11,673 | 11,678 | 11,347 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |
| Treasury stock | -2,037 | -2,018 | -2,000 | -3,897 | -3,882 | S100QYGF, S100TN3A, S100VZ7T, S100Y9ZW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 48% | S100Y9ZW |
| Property, plant and equipment | 29% | S100Y9ZW |
| Intangibles and goodwill | 1% | S100Y9ZW |
| Investment securities | 0% | S100Y9ZW |
| Other assets | 22% | S100Y9ZW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 31% | S100Y9ZW |
| Equity | 69% | S100Y9ZW |

### 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 | 14,074 | 14,458 | 16,127 | 14,346 | 13,979 |
| Equity | 11,558 | 11,731 | 11,743 | 9,745 | 9,608 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,657 | 6,658 | 8,719 | 7,106 | 6,752 |

## 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) | 28.5% | S100Y9ZW |
| Fixed assets ÷ total assets | 29.2% | S100Y9ZW |
| Goodwill ÷ parent equity | 0.3% | S100Y9ZW |

Goodwill over 4 years: 103 → 25 JPY; total investing cash flow: -273 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) | 48.3% |
| Cash ÷ revenue | 47.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 45.1% |
| Cash vs. profit gap | 102 JPY mn (of net income 37.3%) |
| Shareholder returns / net income | 220.8% |
| Shareholder returns / FCF | 223.6% |
| Shareholder payments — dividends / net income | 220.8% |
| Shareholder payments — dividends / FCF | 223.6% |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 28.2% |

## 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 | 4.2% | 0.97× | 4.1% | 1.21× | 5.0% | S100QYGF |
| 2023 | 6.2% | 0.99× | 6.1% | 1.22× | 7.5% | S100TN3A |
| 2024 | 4.0% | 0.90× | 3.5% | 1.30× | 4.6% | S100VZ7T |
| 2025 | 4.9% | 0.92× | 4.5% | 1.42× | 6.4% | S100Y9ZW |
| 2026 | 1.9% | 1.01× | 1.9% | 1.47× | 2.8% | S100Y9ZW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 7.9% | 2026-03-31 |
| 宗政 ヨシ | Major shareholder | 7.6% | 2026-03-31 |
| アサンテ従業員持株会 | Major shareholder | 3.9% | 2026-03-31 |
| NHGGP JAPAN OPPORTUNITIES FUND, L.P. (常任代理人 株式会社三菱ＵＦＪ銀行) | Major shareholder | 3.6% | 2026-03-31 |
| 渋谷 健一 | Major shareholder | 2.7% | 2026-03-31 |
| 宗政 英傑 | Major shareholder | 2.2% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.4% | 2026-03-31 |
| ＳＭＢＣ日興証券株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| 朝日生命保険相互会社 | Major shareholder | 1.2% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 0.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第53期(2025/04/01－2026/03/31) | S100Y9ZW | 2026-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y9ZW,, |
| 有価証券報告書－第52期(2024/04/01－2025/03/31) | S100VZ7T | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ7T,, |
| 有価証券報告書－第51期(2023/04/01－2024/03/31) | S100TN3A | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TN3A,, |
| 有価証券報告書－第50期(2022/04/01－2023/03/31) | S100QYGF | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QYGF,, |
| 有価証券報告書－第49期(令和3年4月1日－令和4年3月31日) | S100OABU | 2022-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OABU,, |
| 有価証券報告書－第48期(令和2年4月1日－令和3年3月31日) | S100LKU5 | 2021-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LKU5,, |

## 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).