# Broad-Minded Co.,Ltd.: 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25期(2025/04/01－2026/03/31) (S100YKOR)
> Page: https://vizora.meequs.com/en/company/b-minded
> Retrieved: 2026-09-30T20:24:01.495Z

## Company

Broad-Minded, founded in 2002, is a company in Securities & Asset Management listed on TSE Growth. It has 312 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Broad-Minded Co.,Ltd. |
| Ticker | 7343 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7343.T) |
| Listing | TSE Growth |
| Head office | 東京都渋谷区桜丘町1番1号 |
| Representative (per filing) | 代表取締役社長 伊藤 清 |
| Founded | Jan 2002 |
| Share capital | ¥657M |
| Employees (consolidated) | 312 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Website | www.b-minded.com (https://www.b-minded.com/) |
| Corporate number | 6011001066916 |
| EDINET | E36406 |
| Industries (Vizora) | Securities & Asset Management, Non-life Insurance, Condominium Developers |

> Profile source: annual securities report (S100YKOR, filed 2026-06-26). As of filing

## Key points (generated from figures)

- About 91% of Broad-Minded's sales come from Financial partner, with Real estate sales making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed -11.3% from the prior year, operating profit +35.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥5.29B |  |
| Operating income | ¥623.9M | Margin 11.8% |
| Net income | ¥394.3M | Margin 7.5% |
| Free cash flow | -¥549.8M |  |
| Largest business | Financial partner | of segment revenue 91.0% |
| Employees (consolidated) | 312 |  |
| EPS | ¥65.1 |  |
| Diluted EPS | ¥63.58 |  |
| Book value per share | ¥656.22 |  |
| Equity ratio | 75.6% |  |
| Shares outstanding | 5,944,616 |  |
| Treasury shares | 205,200 |  |
| Shareholders | 2,220 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 24.1% | Cash ÷ revenue 24.4% |
| Vs. industry median margin | -8.9 pp | Securities & Asset Management |
| ROE | 10.0% | Derived from disclosed figures |
| ROA | 7.5% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 96% of positive segment profit
- FY2026, employees -11% while operating income rose 35%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3281941000 | ¥5289122000 | +61.2% |
| Operating income | ¥384912000 | ¥623948000 | +62.1% |
| Operating margin | 11.7% | 11.8% | +0.1 pp |
| Employees | 229 people | 312 people | +36.2% |
| Cash and equivalents | ¥2167093000 | ¥1288369000 | -40.5% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → フィナンシャルパートナー事業 | 91.0% |
| 新設・再編 → 不動産販売事業 | 9.0% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,289 | 100.0% | S100YKOR |
| Cost of revenue | 380 | 7.2% | S100YKOR |
| Gross profit | 4,909 | 92.8% | S100YKOR |
| SG&A | 4,285 | 81.0% | S100YKOR |
| Operating income | 624 | 11.8% | S100YKOR |
| Ordinary income | 639 | 12.1% | S100YKOR |
| Pretax income | 609 | 11.5% | S100YKOR |
| Income tax | 224 | 4.2% | S100YKOR |
| Net income | 386 | 7.3% | S100YKOR |
| Net income attributable to owners | 394 | 7.5% | S100YKOR |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 7 |
| SG&A | 81 |
| Operating income | 12 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 92.8% → Operating margin 11.8% → Net margin 7.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -11.3%; Core profit growth: +35.3%
Operating leverage (core profit growth ÷ revenue growth): -3.12×
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 | 5,964 | 5,289 | -674 | -11.3% |
| Gross profit | 4,930 | 4,909 | -22 | -0.4% |
| Operating income | 461 | 624 | 163 | +35.3% |
| Net income attributable to owners | 179 | 394 | 216 | +120.7% |
| Operating cash flow | 311 | -469 | -780 | -250.7% |
| Free cash flow | 4 | -550 | -554 | -13175.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 3,245 | 301 | 9.3% | 178 | 156 | 92 | S100LVV7 |
| FY ending Mar 2021 | 3,282 | 385 | 11.7% | 283 | 692 | 670 | S100OMDM |
| FY ending Mar 2022 | 3,622 | 491 | 13.6% | 328 | 26 | 12 | S100RANX |
| FY ending Mar 2023 | 4,324 | 619 | 14.3% | 535 | 427 | 378 | S100TXR7 |
| FY ending Mar 2024 | 5,222 | 721 | 13.8% | 447 | 171 | 108 | S100W6WS |
| FY ending Mar 2025 | 5,964 | 461 | 7.7% | 179 | 311 | 4 | S100YKOR |
| FY ending Mar 2026 | 5,289 | 624 | 11.8% | 394 | -469 | -550 | S100YKOR |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17M |
| Operating income per employee (consolidated) | ¥2M |
| Net income per employee (consolidated) | ¥1.3M |

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) | 238 | 243 | 331 | 349 | 312 |
| Average salary (parent company) | ¥5.5M | ¥6.2M | ¥5.8M | ¥5.8M | ¥6.2M |
| Average age (parent company) | 37.0 years | 36.7 years | 39.0 years | 38.0 years | 35.7 years |
| Average tenure (parent company) | 5.9 years | 6.4 years | 5.4 years | 5.7 years | 6.9 years |

Year over year: Employees (consolidated) -10.6% · Revenue (consolidated) -11.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Financial partner | 4,811 | 91.0% | 601 | 12.5% |
| Real estate sales | 479 | 9.0% | 23 | 4.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Financial partner | 91.0% | 96.3% | 5.3 | 12.5% |
| Real estate sales | 9.0% | 3.7% | -5.3 | 4.9% |

Segment → industry: Financial partner → Securities & Asset Management / Financial partner → Non-life Insurance / Real estate sales → Condominium Developers

## 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 | -469 | -8.9% | S100YKOR |
| Capital expenditure | 81 | 1.5% | S100YKOR |
| Free cash flow | -550 | -10.4% | 算出 |
| Investing cash flow | 22 | 0.4% | S100YKOR |
| Financing cash flow | -249 | -4.7% | S100YKOR |
| Dividends paid | 240 | 4.5% | S100YKOR |
| Share buyback | 43 | 0.8% | S100YKOR |
| Change in cash | -695 | -13.1% | S100YKOR |
| Cash and equivalents | 1,288 | 24.4% | S100YKOR |

## 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 | 2,514 | 2,812 | 1,985 | 1,983 | 1,288 | S100TXR7, S100W6WS, S100YKOR |
| Total assets | 4,064 | 4,627 | 5,025 | 5,118 | 5,356 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Net assets | 3,113 | 3,552 | 3,912 | 3,888 | 4,046 | S100TXR7, S100W6WS, S100YKOR |
| Share capital | 571 | 585 | 627 | 648 | 657 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Property, plant and equipment | 62 | 67 | 150 | 428 | 331 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Intangible assets excluding goodwill | 31 | 63 | 604 | 442 | 192 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Goodwill | — | 13 | 310 | 167 | 7 | S100TXR7, S100W6WS, S100YKOR |
| Investment securities | 143 | 143 | 58 | — | 256 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Current assets | 3,578 | 4,065 | 3,619 | 3,591 | 3,924 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Current liabilities | 948 | 1,063 | 1,060 | 1,096 | 1,211 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Short-term borrowings | 50 | — | — | — | — | S100RANX |
| Long-term borrowings | — | 5 | 2 | 1 | — | S100TXR7, S100W6WS, S100YKOR |
| Total liabilities | 951 | 1,075 | 1,113 | 1,231 | 1,310 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Non-controlling interests | — | 7 | 10 | 3 | -5 | S100TXR7, S100W6WS, S100YKOR |
| Equity attributable to owners of parent | 3,067 | 3,545 | 3,902 | 3,884 | 4,013 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Retained earnings | 2,112 | 2,563 | 2,881 | 2,821 | 2,975 | S100RANX, S100TXR7, S100W6WS, S100YKOR |
| Treasury stock | -88 | -88 | -132 | -133 | -176 | S100RANX, S100TXR7, S100W6WS, S100YKOR |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 24% | S100YKOR |
| Property, plant and equipment | 6% | S100YKOR |
| Intangibles and goodwill | 4% | S100YKOR |
| Investment securities | 5% | S100YKOR |
| Other assets | 61% | S100YKOR |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100YKOR |
| Equity | 76% | S100YKOR |

### 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 | 4,064 | 4,627 | 5,025 | 5,118 | 5,356 |
| Equity | 3,113 | 3,552 | 3,912 | 3,888 | 4,046 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,514 | 2,812 | 1,985 | 1,983 | 1,288 |

## 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) | 6.3% | S100YKOR |
| Fixed assets ÷ total assets | 6.2% | S100YKOR |
| Goodwill ÷ parent equity | 0.2% | S100YKOR |

### 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) | 24.1% |
| Cash ÷ revenue | 24.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -75.1% |
| Cash vs. profit gap | -863 JPY mn (of net income -218.9%) |
| Shareholder returns / net income | 71.9% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 60.9% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.5% |
| 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 9.0% | 0.89× | 8.1% | 1.33× | 10.7% | S100RANX |
| 2023 | 12.4% | 1.00× | 12.3% | 1.31× | 16.2% | S100TXR7 |
| 2024 | 8.6% | 1.08× | 9.3% | 1.30× | 12.0% | S100W6WS |
| 2025 | 3.0% | 1.18× | 3.5% | 1.30× | 4.6% | S100YKOR |
| 2026 | 7.5% | 1.01× | 7.5% | 1.33× | 10.0% | S100YKOR |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 伊藤 清 | Major shareholder | 24.8% | 2026-03-31 |
| 株式会社クレディセゾン | Major shareholder | 17.4% | 2026-03-31 |
| 吉橋 正 | Major shareholder | 9.9% | 2026-03-31 |
| 笹川 治信 | Major shareholder | 9.4% | 2026-03-31 |
| 大西 新吾 | Major shareholder | 3.8% | 2026-03-31 |
| 玉山 洋祐 | Major shareholder | 1.5% | 2026-03-31 |
| ブロードマインド従業員持株会 | Major shareholder | 1.1% | 2026-03-31 |
| 有限会社福田商事 | Major shareholder | 0.9% | 2026-03-31 |
| 上村 浩 | Major shareholder | 0.8% | 2026-03-31 |
| 岡本 功治 | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第25期(2025/04/01－2026/03/31) | S100YKOR | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKOR,, |
| 有価証券報告書－第24期(2024/04/01－2025/03/31) | S100W6WS | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6WS,, |
| 有価証券報告書－第23期(2023/04/01－2024/03/31) | S100TXR7 | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TXR7,, |
| 有価証券報告書－第22期(2022/04/01－2023/03/31) | S100RANX | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RANX,, |
| 有価証券報告書－第21期(令和3年4月1日－令和4年3月31日) | S100OMDM | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OMDM,, |
| 有価証券報告書－第20期(令和2年4月1日－令和3年3月31日) | S100LVV7 | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVV7,, |

## 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).