# bBreak Systems Company, Limited: business model and financials

> Latest period: FY ending Jun 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第23期(2024/07/01－2025/06/30) (S100WR2U)
> Page: https://vizora.meequs.com/en/company/bbreak-systems
> Retrieved: 2026-09-30T19:00:13.432Z

## Company

bBreak Systems, founded in 2002, is a company in IT Services & System Integration listed on TSE Growth. It has 150 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | bBreak Systems Company, Limited |
| Ticker | 3986 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3986.T) |
| Listing | TSE Growth |
| Head office | 東京都品川区東五反田二丁目10番2号 |
| Representative (per filing) | 代表取締役社長 白岩 次郎 |
| Founded | Jul 2002 |
| Share capital | ¥232.6M |
| Employees (consolidated) | 150 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | June |
| Website | www.bbreak.co.jp (https://www.bbreak.co.jp/) |
| Corporate number | 7010701013986 |
| EDINET | E33232 |
| Industries (Vizora) | IT Services & System Integration, Software & SaaS |

> Profile source: annual securities report (S100WR2U, filed 2025-09-26). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 17.6 | 105 |
| Profitability | 36.9 | 145 |
| Cash conversion | 51.2 | 128 |
| Efficiency | 22.4 | 145 |

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 53% of bBreak Systems's sales come from Package business, with System integration business making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed -1.0% from the prior year, operating profit -27.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥1.38B |  |
| Operating income | ¥109.8M | Margin 8.0% |
| Net income | ¥91.8M | Margin 6.7% |
| Free cash flow | — |  |
| Largest business | Package business | of segment revenue 52.8% |
| Employees (consolidated) | 150 |  |
| EPS | ¥60.35 |  |
| Book value per share | ¥1126.68 |  |
| Equity ratio | 74.8% |  |
| Shares outstanding | 1,536,960 |  |
| Treasury shares | 15,200 |  |
| Shareholders | 661 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 19.8% | Cash ÷ revenue 33.0% |
| Vs. industry median margin | -4.5 pp | Software & SaaS |
| ROE | 5.5% | Derived from disclosed figures |
| ROA | 4.1% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 68% of positive segment profit

## What changed in 5 years

| Metric | FY ending Jun 2020 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1156854000 | ¥1377558000 | +19.1% |
| Operating income | ¥138592000 | ¥109827000 | -20.8% |
| Operating margin | 12.0% | 8.0% | -4 pp |
| Employees | 124 people | 150 people | +21.0% |
| Cash and equivalents | ¥1325171000 | ¥454049000 | -65.7% |

### Change in segment revenue mix

Span: FY ending Jun 2020 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| パッケージ事業 → パッケージ事業 | 52.8% |
| パッケージ事業 → 事業再編・廃止 | 10.0% |
| システムインテグレーション事業 → システムインテグレーション事業 | 37.2% |
| 新設・再編 → システムインテグレーション事業 | 10.0% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,378 | 100.0% | S100WR2U |
| Cost of revenue | 734 | 53.3% | S100WR2U |
| Gross profit | 644 | 46.7% | S100WR2U |
| SG&A | 534 | 38.8% | S100WR2U |
| Operating income | 110 | 8.0% | S100WR2U |
| Ordinary income | 112 | 8.1% | S100WR2U |
| Pretax income | 112 | 8.1% | S100WR2U |
| Income tax | 20 | 1.5% | S100WR2U |
| Net income | 92 | 6.7% | S100WR2U |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 53 |
| SG&A | 39 |
| Operating income | 8 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 46.7% → Operating margin 8.0% → Net margin 6.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -1.0%; Core profit growth: -27.8%
Operating leverage (core profit growth ÷ revenue growth): 27.68×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2024 → FY ending Jun 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,392 | 1,378 | -14 | -1.0% |
| Gross profit | 660 | 644 | -16 | -2.5% |
| Operating income | 152 | 110 | -42 | -27.8% |
| Operating cash flow | 240 | 115 | -125 | -52.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2019 | 1,128 | 161 | 14.2% | 111 | 184 | 184 | S100JSR4 |
| FY ending Jun 2020 | 1,157 | 139 | 12.0% | 104 | 147 | — | S100MQWQ |
| FY ending Jun 2021 | 1,166 | 120 | 10.3% | 92 | 113 | — | S100P9RE |
| FY ending Jun 2022 | 1,263 | 154 | 12.2% | 117 | 195 | — | S100RY6E |
| FY ending Jun 2023 | 1,379 | 176 | 12.8% | 136 | 160 | — | S100UG6X |
| FY ending Jun 2024 | 1,392 | 152 | 10.9% | 136 | 240 | 177 | S100WR2U |
| FY ending Jun 2025 | 1,378 | 110 | 8.0% | 92 | 115 | — | S100WR2U |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥9.2M |
| Operating income per employee (consolidated) | ¥732.2K |
| Net income per employee (consolidated) | ¥612.2K |

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

| History | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 124 | 131 | 141 | 148 | 150 |
| Average salary (parent company) | ¥4.9M | ¥5M | ¥5.2M | ¥5.1M | ¥5.1M |
| Average age (parent company) | 32.1 years | 32.2 years | 32.1 years | 32.2 years | 32.8 years |
| Average tenure (parent company) | 6.6 years | 6.9 years | 7.0 years | 7.4 years | 8.0 years |

Year over year: Employees (consolidated) +1.4% · Revenue (consolidated) -1.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Package business | 727 | 52.8% | 323 | 44.4% |
| System integration business | 651 | 47.2% | 154 | 23.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Package business | 52.8% | 67.7% | 14.9 | 44.4% |
| System integration business | 47.2% | 32.3% | -14.9 | 23.7% |

Segment → industry: System integration business → IT Services & System Integration / Package business → Software & SaaS

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 115 | 8.3% | S100WR2U |
| Investing cash flow | -1,493 | -108.4% | S100WR2U |
| Financing cash flow | -23 | -1.7% | S100WR2U |
| Dividends paid | 23 | 1.7% | S100WR2U |
| Change in cash | -1,401 | -101.7% | S100WR2U |
| Cash and equivalents | 454 | 33.0% | S100WR2U |

## 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 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,419 | 1,596 | 1,672 | 1,855 | 454 | S100RY6E, S100UG6X, S100WR2U |
| Total assets | 1,721 | 1,882 | 2,023 | 2,228 | 2,292 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Net assets | 1,335 | 1,433 | 1,527 | 1,645 | 1,714 | S100RY6E, S100UG6X, S100WR2U |
| Share capital | 233 | 233 | 233 | 233 | 233 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Property, plant and equipment | 0 | 0 | 0 | 39 | 35 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Intangible assets excluding goodwill | 1 | — | — | 20 | 18 | S100P9RE, S100WR2U |
| Current assets | 1,661 | 1,810 | 1,903 | 2,065 | 2,128 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Current liabilities | 285 | 324 | 344 | 399 | 368 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Total liabilities | 386 | 449 | 496 | 583 | 578 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Equity attributable to owners of parent | 1,335 | 1,433 | 1,527 | 1,645 | 1,714 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Retained earnings | 817 | 915 | 1,033 | 1,151 | 1,220 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |
| Treasury stock | -0 | -0 | -24 | -24 | -24 | S100P9RE, S100RY6E, S100UG6X, S100WR2U |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100WR2U |
| Property, plant and equipment | 1% | S100WR2U |
| Intangibles and goodwill | 1% | S100WR2U |
| Other assets | 78% | S100WR2U |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100WR2U |
| Equity | 75% | S100WR2U |

### Balance sheet history

| Metric | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,721 | 1,882 | 2,023 | 2,228 | 2,292 |
| Equity | 1,335 | 1,433 | 1,527 | 1,645 | 1,714 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,419 | 1,596 | 1,672 | 1,855 | 454 |

## 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) | 2.5% | S100WR2U |
| Fixed assets ÷ total assets | 1.5% | S100WR2U |
| Goodwill ÷ parent equity | — | —, S100WR2U |

### 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) | 19.8% |
| Cash ÷ revenue | 33.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 104.6% |
| Cash vs. profit gap | 23 JPY mn (of net income 25.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 24.8% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 1299.5% |

## 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 | 7.8% | 0.68× | 5.3% | 1.29× | 6.9% | S100P9RE |
| 2022 | 9.2% | 0.70× | 6.5% | 1.30× | 8.4% | S100RY6E |
| 2023 | 9.9% | 0.71× | 7.0% | 1.32× | 9.2% | S100UG6X |
| 2024 | 9.8% | 0.65× | 6.4% | 1.34× | 8.6% | S100WR2U |
| 2025 | 6.7% | 0.61× | 4.1% | 1.35× | 5.5% | S100WR2U |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 白岩 次郎 | Major shareholder | 40.0% | 2025-06-30 |
| 各務 正人 | Major shareholder | 9.7% | 2025-06-30 |
| 上川 伸彦 | Major shareholder | 8.3% | 2025-06-30 |
| 高橋 明 | Major shareholder | 6.6% | 2025-06-30 |
| 光通信㈱ | Major shareholder | 4.7% | 2025-06-30 |
| 加藤 忠男 | Major shareholder | 2.2% | 2025-06-30 |
| 熊田 圭一郎 | Major shareholder | 2.0% | 2025-06-30 |
| 上田八木短資㈱ | Major shareholder | 1.8% | 2025-06-30 |
| 吉田 周作 | Major shareholder | 1.3% | 2025-06-30 |
| 塩川 靖幸 | Major shareholder | 1.2% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第23期(2024/07/01－2025/06/30) | S100WR2U | 2025-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WR2U,, |
| 有価証券報告書－第22期(2023/07/01－2024/06/30) | S100UG6X | 2024-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UG6X,, |
| 有価証券報告書－第21期(2022/07/01－2023/06/30) | S100RY6E | 2023-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RY6E,, |
| 有価証券報告書－第20期(令和3年7月1日－令和4年6月30日) | S100P9RE | 2022-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P9RE,, |
| 訂正有価証券報告書－第19期(令和2年7月1日－令和3年6月30日) | S100MQWQ | 2021-11-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MQWQ,, |
| 有価証券報告書－第18期(令和1年7月1日－令和2年6月30日) | S100JSR4 | 2020-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JSR4,, |

## 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).