# CAREER CO.,LTD: business model and financials

> Latest period: FY ending Sep 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第17期(2024/10/01－2025/09/30) (S100XD0G)
> Page: https://vizora.meequs.com/en/company/career
> Retrieved: 2026-09-30T20:18:06.921Z

## Company

Career, founded in 2009, is a company in HR & Staffing listed on TSE Growth. It has 355 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | CAREER CO.,LTD. |
| Ticker | 6198 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6198.T) |
| Listing | TSE Growth |
| Head office | 東京都世田谷区太子堂4丁目1番1号 キャロットタワー |
| Representative (per filing) | 代表取締役会長兼社長 川嶋 一郎 |
| Founded | Apr 2009 |
| Share capital | ¥157.6M |
| Employees (consolidated) | 355 |
| Average salary (parent only) | ¥4.4M |
| Fiscal year end | September |
| Website | careergift.co.jp (https://careergift.co.jp/) |
| Corporate number | 2011101052670 |
| EDINET | E32193 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100XD0G, filed 2025-12-25). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2025-09-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 16.9 | 68 |
| Profitability | 8.5 | 88 |
| Efficiency | 96 | 88 |

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)

- Career brought in ¥14.9B in revenue.
- Operating profit was close to zero, a slight loss per ¥100 of sales.
- Revenue changed -10.6% from the prior year, operating profit -102.1%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥14.9B |  |
| Operating income | -¥9.1M | Margin -0.1% |
| Net income | -¥150.2M | Margin -1.0% |
| Free cash flow | -¥312.9M |  |
| Employees (consolidated) | 355 |  |
| EPS | ¥-23.22 |  |
| Book value per share | ¥212.37 |  |
| Equity ratio | 41.1% |  |
| Shares outstanding | 8,624,320 |  |
| Treasury shares | 134,200 |  |
| Shareholders | 2,583 |  |
| Average salary (parent only) | ¥4.4M | Filing company only |
| Cash ratio | 43.4% | Cash ÷ revenue 12.5% |
| Vs. industry median margin | -8.7 pp | HR & Staffing |
| ROA | -3.5% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 43% of total assets

## What changed in 5 years

| Metric | FY ending Sep 2020 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12247806000 | ¥14935902000 | +21.9% |
| Operating income | ¥1981000 | ¥-9116000 | -560.2% |
| Operating margin | 0.0% | -0.1% | -0.1 pp |
| Employees | 250 people | 355 people | +42.0% |
| Cash and equivalents | ¥1587566000 | ¥1860624000 | +17.2% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 14,936 | 100.0% | S100XD0G |
| Cost of revenue | 11,702 | 78.3% | S100XD0G |
| Gross profit | 3,234 | 21.7% | S100XD0G |
| SG&A | 3,243 | 21.7% | S100XD0G |
| Operating income | -9 | -0.1% | S100XD0G |
| Ordinary income | -23 | -0.2% | S100XD0G |
| Pretax income | -48 | -0.3% | S100XD0G |
| Income tax | 102 | 0.7% | S100XD0G |
| Net income | -150 | -1.0% | S100XD0G |
| Net income attributable to owners | -150 | -1.0% | S100XD0G |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 22 |
| Operating income | 0 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 21.7% → Operating margin -0.1% → Net margin -1.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 16,709 | 14,936 | -1,774 | -10.6% |
| Gross profit | 3,657 | 3,234 | -423 | -11.6% |
| Operating income | 429 | -9 | -438 | -102.1% |
| Net income attributable to owners | 250 | -150 | -400 | -160.1% |
| Operating cash flow | -91 | -15 | 76 | — |
| Free cash flow | -111 | -313 | -202 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2019 | 11,595 | 251 | 2.2% | 157 | -20 | -49 | S100KFCN |
| FY ending Sep 2020 | 12,248 | 2 | 0.0% | -39 | 264 | 217 | S100N49U |
| FY ending Sep 2021 | 14,184 | 482 | 3.4% | 69 | -206 | -244 | S100PTKZ |
| FY ending Sep 2022 | 16,338 | 356 | 2.2% | 196 | 938 | 702 | S100SI8Q |
| FY ending Sep 2023 | 17,792 | 609 | 3.4% | 379 | 789 | 770 | S100V0P9 |
| FY ending Sep 2024 | 16,709 | 429 | 2.6% | 250 | -91 | -111 | S100XD0G |
| FY ending Sep 2025 | 14,936 | -9 | -0.1% | -150 | -15 | -313 | S100XD0G |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥42.1M |
| Operating income per employee (consolidated) | -¥25.7K |
| Net income per employee (consolidated) | -¥423K |

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

| History | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 234 | 266 | 308 | 317 | 355 |
| Average salary (parent company) | ¥4M | ¥4M | ¥4.5M | ¥4.5M | ¥4.4M |
| Average age (parent company) | 30.6 years | 30.4 years | 30.2 years | 29.0 years | 30.4 years |
| Average tenure (parent company) | 1.8 years | 1.7 years | 1.8 years | 1.7 years | 2.2 years |

Year over year: Employees (consolidated) +12.0% · Revenue (consolidated) -10.6%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -15 | -0.1% | S100XD0G |
| Capital expenditure | 298 | 2.0% | S100XD0G |
| Free cash flow | -313 | -2.1% | 算出 |
| Investing cash flow | -334 | -2.2% | S100XD0G |
| Financing cash flow | 57 | 0.4% | S100XD0G |
| Dividends paid | 53 | 0.4% | S100XD0G |
| Share buyback | 5 | 0.0% | S100XD0G |
| Change in cash | -292 | -2.0% | S100XD0G |
| Cash and equivalents | 1,861 | 12.5% | S100XD0G |

## 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 Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,613 | 2,229 | 2,746 | 2,153 | 1,861 | S100SI8Q, S100V0P9, S100XD0G |
| Total assets | 4,832 | 4,926 | 5,107 | 4,408 | 4,286 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Net assets | 1,392 | 1,645 | 2,034 | 2,005 | 1,834 | S100SI8Q, S100V0P9, S100XD0G |
| Share capital | 158 | 158 | 158 | 158 | 158 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Property, plant and equipment | 250 | 320 | 297 | 269 | 543 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Intangible assets excluding goodwill | 60 | 58 | 49 | 38 | 35 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Current assets | 4,303 | 4,262 | 4,472 | 3,855 | 3,460 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Current liabilities | 3,374 | 3,149 | 2,932 | 2,253 | 2,050 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Short-term borrowings | 1,212 | 1,210 | 1,000 | 800 | 743 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Long-term borrowings | 10 | — | — | — | 172 | S100PTKZ, S100XD0G |
| Total liabilities | 3,439 | 3,281 | 3,073 | 2,403 | 2,452 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Non-controlling interests | 63 | 95 | 109 | — | — | S100PTKZ, S100SI8Q, S100V0P9 |
| Equity attributable to owners of parent | 1,305 | 1,500 | 1,879 | 1,970 | 1,762 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Retained earnings | 1,162 | 1,357 | 1,736 | 1,965 | 1,761 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |
| Treasury stock | -152 | -152 | -152 | -152 | -157 | S100PTKZ, S100SI8Q, S100V0P9, S100XD0G |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 43% | S100XD0G |
| Property, plant and equipment | 13% | S100XD0G |
| Intangibles and goodwill | 1% | S100XD0G |
| Other assets | 43% | S100XD0G |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 57% | S100XD0G |
| Equity | 43% | S100XD0G |
| Other liabilities | 0% | S100XD0G |

### Balance sheet history

| Metric | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 4,832 | 4,926 | 5,107 | 4,408 | 4,286 |
| Equity | 1,392 | 1,645 | 2,034 | 2,005 | 1,834 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,613 | 2,229 | 2,746 | 2,153 | 1,861 |

## 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) | 3.6% | S100XD0G |
| Fixed assets ÷ total assets | 12.7% | S100XD0G |
| Goodwill ÷ parent equity | — | —, S100XD0G |

### 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) | 43.4% |
| Cash ÷ revenue | 12.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 135 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.0% |
| 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 0.5% | 2.94× | 1.4% | 3.70× | 5.3% | S100PTKZ |
| 2022 | 1.2% | 3.35× | 4.0% | 3.48× | 13.9% | S100SI8Q |
| 2023 | 2.1% | 3.55× | 7.6% | 2.97× | 22.4% | S100V0P9 |
| 2024 | 1.5% | 3.51× | 5.3% | 2.47× | 13.0% | S100XD0G |
| 2025 | — | —× | -3.5% | —× | — | S100XD0G |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 川嶋 一郎 | Major shareholder | 50.3% | 2025-09-30 |
| 株式会社SBI証券 | Major shareholder | 9.4% | 2025-09-30 |
| 水谷 桂子 | Major shareholder | 3.5% | 2025-09-30 |
| 楽天証券株式会社共有口 | Major shareholder | 2.8% | 2025-09-30 |
| JPモルガン証券株式会社 | Major shareholder | 2.0% | 2025-09-30 |
| 株式会社くふうカンパニーホールディングス | Major shareholder | 1.9% | 2025-09-30 |
| 内木 真哉 | Major shareholder | 1.2% | 2025-09-30 |
| 株式会社オープンループ | Major shareholder | 1.1% | 2025-09-30 |
| 野村證券株式会社 | Major shareholder | 0.9% | 2025-09-30 |
| 竹上 雅彦 | Major shareholder | 0.9% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第17期(2024/10/01－2025/09/30) | S100XD0G | 2025-12-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XD0G,, |
| 有価証券報告書－第16期(2023/10/01－2024/09/30) | S100V0P9 | 2024-12-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100V0P9,, |
| 有価証券報告書－第15期(2022/10/01－2023/09/30) | S100SI8Q | 2023-12-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SI8Q,, |
| 有価証券報告書－第14期(令和3年10月1日－令和4年9月30日) | S100PTKZ | 2022-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PTKZ,, |
| 有価証券報告書－第13期(令和2年10月1日－令和3年9月30日) | S100N49U | 2021-12-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100N49U,, |
| 有価証券報告書－第12期(令和1年10月1日－令和2年9月30日) | S100KFCN | 2020-12-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KFCN,, |

## 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).