# Branding Technology Inc.: 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) (S100YKT7)
> Page: https://vizora.meequs.com/en/company/branding-t
> Retrieved: 2026-09-30T20:26:48.461Z

## Company

Branding Technology, founded in 2001, is a company in Advertising listed on TSE Growth. It has 182 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Branding Technology Inc. |
| Ticker | 7067 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7067.T) |
| Listing | TSE Growth |
| Head office | 東京都渋谷区南平台町15番13号帝都渋谷ビル4階 |
| Representative (per filing) | 代表取締役社長 木村 裕紀 |
| Founded | Aug 2001 |
| Share capital | ¥52.8M |
| Employees (consolidated) | 182 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | March |
| Website | www.branding-t.co.jp (https://www.branding-t.co.jp/) |
| Corporate number | 2011001038472 |
| EDINET | E34975 |
| Industries (Vizora) | Advertising |

> Profile source: annual securities report (S100YKT7, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 34.2 | 57 |
| Profitability | 23.8 | 86 |
| Cash conversion | 22 | 75 |
| Efficiency | 91.3 | 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 73% of Branding Technology's sales come from Digital marketing business, with Brand business making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed -4.6% from the prior year, operating profit -28.9%.

## Company structure

- Segment revenue mix: Digital marketing business 72.8%、Brand business 27.2%
- Revenue → net income: ¥4795386000 → ¥45165000
- Net income → operating cash flow: ¥45165000 → ¥32586000（difference ¥-12579000）
- Main uses of operating cash flow: CapEx ¥23743000 / dividends ¥15541000 / buybacks —
- Change in cash: ¥41830000
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 | ¥4.8B |  |
| Operating income | ¥78.6M | Margin 1.6% |
| Net income | ¥44.3M | Margin 0.9% |
| Free cash flow | ¥8.8M |  |
| Largest business | Digital marketing business | of segment revenue 72.8% |
| Employees (consolidated) | 182 |  |
| EPS | ¥33.22 |  |
| Diluted EPS | ¥33.09 |  |
| Book value per share | ¥672.46 |  |
| Equity ratio | 58.3% |  |
| Shares outstanding | 1,602,215 |  |
| Shareholders | 665 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 57.6% | Cash ÷ revenue 26.0% |
| Vs. industry median margin | -4 pp | Advertising |
| ROE | 3.7% | Derived from disclosed figures |
| ROA | 2.1% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 58% of total assets
- FY2026, segment profit share differs by -22 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4420196000 | ¥4795386000 | +8.5% |
| Operating income | ¥-114481000 | ¥78603000 | — |
| Operating margin | -2.6% | 1.6% | +4.2 pp |
| Employees | 226 people | 182 people | -19.5% |
| Cash and equivalents | ¥1529072000 | ¥1246439000 | -18.5% |

### 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 |
| --- | ---: |
| ブランド事業 → ブランド事業 | 27.2% |
| ブランド事業 → 事業再編・廃止 | 2.1% |
| デジタルマーケティング事業 → デジタルマーケティング事業 | 68.4% |
| オフショア関連事業 → 事業再編・廃止 | 2.4% |
| 新設・再編 → デジタルマーケティング事業 | 4.4% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,795 | 100.0% | S100YKT7 |
| Cost of revenue | 3,680 | 76.7% | S100YKT7 |
| Gross profit | 1,116 | 23.3% | S100YKT7 |
| SG&A | 1,037 | 21.6% | S100YKT7 |
| Operating income | 79 | 1.6% | S100YKT7 |
| Ordinary income | 80 | 1.7% | S100YKT7 |
| Pretax income | 80 | 1.7% | S100YKT7 |
| Income tax | 35 | 0.7% | S100YKT7 |
| Net income | 45 | 0.9% | S100YKT7 |
| Net income attributable to owners | 44 | 0.9% | S100YKT7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 21 |
| Operating income | 2 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 23.3% → Operating margin 1.6% → Net margin 0.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -4.6%; Core profit growth: -28.9%
Operating leverage (core profit growth ÷ revenue growth): 6.24×
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 | 5,029 | 4,795 | -233 | -4.6% |
| Gross profit | 1,189 | 1,116 | -74 | -6.2% |
| Operating income | 111 | 79 | -32 | -28.9% |
| Net income attributable to owners | 77 | 44 | -33 | -42.5% |
| Operating cash flow | 53 | 33 | -20 | -38.6% |
| Free cash flow | 48 | 9 | -40 | -81.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 5,161 | 64 | 1.2% | 42 | -81 | -108 | S100LUYF |
| FY ending Mar 2021 | 4,420 | -114 | -2.6% | -42 | 81 | 61 | S100OJR5 |
| FY ending Mar 2022 | 4,939 | 111 | 2.3% | 82 | 132 | 103 | S100R8NG |
| FY ending Mar 2023 | 5,164 | 121 | 2.3% | 80 | -9 | -43 | S100TWBT |
| FY ending Mar 2024 | 4,607 | 37 | 0.8% | 3 | -47 | -57 | S100W8I0 |
| FY ending Mar 2025 | 5,029 | 111 | 2.2% | 77 | 53 | 48 | S100YKT7 |
| FY ending Mar 2026 | 4,795 | 79 | 1.6% | 44 | 33 | 9 | S100YKT7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥26.3M |
| Operating income per employee (consolidated) | ¥431.9K |
| Net income per employee (consolidated) | ¥243.3K |

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) | 225 | 225 | 230 | 209 | 182 |
| Average salary (parent company) | ¥4.7M | ¥4.8M | ¥4.9M | ¥5M | ¥5.1M |
| Average age (parent company) | 32.7 years | 33.4 years | 34.3 years | 35.1 years | 36.4 years |
| Average tenure (parent company) | 5.7 years | 6.3 years | 6.2 years | 6.4 years | 6.8 years |

Year over year: Employees (consolidated) -12.9% · Revenue (consolidated) -4.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Brand business | 1,303 | 27.2% | 257 | 19.7% |
| Digital marketing business | 3,492 | 72.8% | 267 | 7.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Brand business | 27.2% | 49.0% | 21.8 | 19.7% |
| Digital marketing business | 72.8% | 51.0% | -21.8 | 7.7% |

Segment → industry: Digital marketing business → Advertising / Brand business → Advertising

## 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 | 33 | 0.7% | S100YKT7 |
| Capital expenditure | 24 | 0.5% | S100YKT7 |
| Free cash flow | 9 | 0.2% | 算出 |
| Investing cash flow | -46 | -1.0% | S100YKT7 |
| Financing cash flow | 54 | 1.1% | S100YKT7 |
| Dividends paid | 16 | 0.3% | S100YKT7 |
| Change in cash | 42 | 0.9% | S100YKT7 |
| Cash and equivalents | 1,246 | 26.0% | S100YKT7 |

## 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 | 1,538 | 1,319 | 1,131 | 1,205 | 1,246 | S100TWBT, S100W8I0, S100YKT7 |
| Total assets | 2,395 | 2,159 | 1,952 | 2,081 | 2,165 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Net assets | 1,141 | 1,211 | 1,195 | 1,191 | 1,269 | S100TWBT, S100W8I0, S100YKT7 |
| Share capital | 51 | 52 | 52 | 52 | 53 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Trade receivables | 529 | 507 | 504 | 594 | 592 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Property, plant and equipment | 49 | 54 | 42 | 28 | 19 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Intangible assets excluding goodwill | 12 | 12 | 2 | 1 | 20 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Investment securities | 0 | 0 | 13 | 11 | 34 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Current assets | 2,180 | 1,945 | 1,766 | 1,907 | 1,966 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Current liabilities | 929 | 808 | 741 | 730 | 731 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Short-term borrowings | 30 | — | — | — | — | S100R8NG |
| Long-term borrowings | 223 | 117 | 15 | 160 | 164 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Total liabilities | 1,253 | 948 | 756 | 890 | 895 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Non-controlling interests | 3 | 4 | 5 | 6 | 7 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Equity attributable to owners of parent | 1,130 | 1,193 | 1,171 | 1,175 | 1,251 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Retained earnings | 843 | 903 | 881 | 932 | 961 | S100R8NG, S100TWBT, S100W8I0, S100YKT7 |
| Treasury stock | -27 | -27 | — | -46 | — | S100R8NG, S100TWBT, S100YKT7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 58% | S100YKT7 |
| Receivables | 27% | S100YKT7 |
| Property, plant and equipment | 1% | S100YKT7 |
| Intangibles and goodwill | 1% | S100YKT7 |
| Investment securities | 1% | S100YKT7 |
| Other assets | 12% | S100YKT7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 41% | S100YKT7 |
| Equity | 59% | S100YKT7 |
| Other liabilities | 0% | S100YKT7 |

### 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 | 2,395 | 2,159 | 1,952 | 2,081 | 2,165 |
| Equity | 1,141 | 1,211 | 1,195 | 1,191 | 1,269 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,538 | 1,319 | 1,131 | 1,205 | 1,246 |

## 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) | 0.4% | S100YKT7 |
| Fixed assets ÷ total assets | 0.9% | S100YKT7 |
| Goodwill ÷ parent equity | — | —, S100YKT7 |

### 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) | 57.6% |
| Cash ÷ revenue | 26.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 41.5% |
| Cash vs. profit gap | -12 JPY mn (of net income -26.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 35.1% |
| Shareholder payments — dividends / FCF | 175.7% |
| CapEx intensity (capex ÷ revenue) | 0.5% |
| Investing CF relative to operating CF | 140.6% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 1.7% | 2.06× | 3.4% | 2.12× | 7.3% | S100R8NG |
| 2023 | 1.5% | 2.27× | 3.5% | 1.96× | 6.9% | S100TWBT |
| 2024 | 0.1% | 2.24× | 0.2% | 1.74× | 0.3% | S100W8I0 |
| 2025 | 1.5% | 2.49× | 3.8% | 1.72× | 6.6% | S100YKT7 |
| 2026 | 0.9% | 2.26× | 2.1% | 1.75× | 3.7% | S100YKT7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社アズーロ | Major shareholder | 35.0% | 2026-03-31 |
| 木村 裕紀 | Major shareholder | 11.6% | 2026-03-31 |
| 榊原 暢宏 | Major shareholder | 6.9% | 2026-03-31 |
| 株式会社ＥＰＡＲＫ | Major shareholder | 6.4% | 2026-03-31 |
| 綿引 一 | Major shareholder | 5.0% | 2026-03-31 |
| 株式会社Ｅｎｊｉｎ | Major shareholder | 3.0% | 2026-03-31 |
| 投資事業有限責任組合ＪＡＩＣパートナーズファンド | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社ＳＡＩＡＳ | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.6% | 2026-03-31 |
| 野中 規夫 | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第25期(2025/04/01－2026/03/31) | S100YKT7 | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKT7,, |
| 有価証券報告書－第24期(2024/04/01－2025/03/31) | S100W8I0 | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8I0,, |
| 有価証券報告書－第23期(2023/04/01－2024/03/31) | S100TWBT | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWBT,, |
| 有価証券報告書－第22期(2022/04/01－2023/03/31) | S100R8NG | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8NG,, |
| 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) | S100OJR5 | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJR5,, |
| 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) | S100LUYF | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUYF,, |

## 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).