# ChatPlus Co., Ltd.: business model and financials

> Latest period: FY ending Jun 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第11期(2025/07/01－2026/06/30) (S100Z3UE)
> Page: https://vizora.meequs.com/en/company/chatplus
> Retrieved: 2026-09-30T20:57:48.814Z

## Company

ChatPlus, founded in 2016, is a company in Software & SaaS listed on TSE Growth. It has 22 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ChatPlus Co., Ltd. |
| Ticker | 598A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/598A.T) |
| Listing | TSE Growth |
| Head office | 東京都千代田区丸の内二丁目7番2号 |
| Representative (per filing) | 代表取締役社長 大江 繭子 |
| Founded | Aug 2016 |
| Share capital | ¥10M |
| Employees (consolidated) | 22 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | June |
| Website | chatplus.jp (https://chatplus.jp/) |
| Corporate number | 7010001177714 |
| EDINET | E41917 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100Z3UE, filed 2026-09-25). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 77.6 | 105 |
| Profitability | 95.5 | 145 |
| Cash conversion | 24.6 | 128 |
| Efficiency | 64.5 | 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)

- ChatPlus brought in ¥1.22B in revenue.
- Out of every ¥100 of sales, about ¥43 is left as operating profit.
- Revenue changed +19.5% from the prior year, operating profit +43.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥1221129000 → ¥346688000
- Net income → operating cash flow: ¥346688000 → ¥415472000（difference ¥68784000）
- Main uses of operating cash flow: CapEx ¥35064000 / dividends ¥12000000 / buybacks —
- Change in cash: ¥341602000
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 | ¥1.22B |  |
| Operating income | ¥529.7M | Margin 43.4% |
| Net income | ¥346.7M | Margin 28.4% |
| Free cash flow | ¥380.4M |  |
| Employees (consolidated) | 22 |  |
| EPS | ¥86.67 |  |
| Book value per share | ¥188.35 |  |
| Equity ratio | 57.2% |  |
| Shares outstanding | 4,000,000 |  |
| Shareholders | 8 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 78.2% | Cash ÷ revenue 84.4% |
| Vs. industry median margin | +30.9 pp | Software & SaaS |
| ROE | 59.2% | Derived from disclosed figures |
| ROA | 30.5% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 78% of total assets
- FY2026, operating income keeps 43 per ¥100 of revenue

## What changed in 1 years

| Metric | FY ending Jun 2025 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1021723000 | ¥1221129000 | +19.5% |
| Operating income | ¥369382000 | ¥529660000 | +43.4% |
| Operating margin | 36.2% | 43.4% | +7.2 pp |
| Employees | 18 people | 22 people | +22.2% |
| Cash and equivalents | ¥689358000 | ¥1030960000 | +49.6% |

### Change in segment revenue mix

Span: FY ending Jun 2025 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,221 | 100.0% | S100Z3UE |
| Cost of revenue | 304 | 24.9% | S100Z3UE |
| Gross profit | 917 | 75.1% | S100Z3UE |
| SG&A | 388 | 31.8% | S100Z3UE |
| Operating income | 530 | 43.4% | S100Z3UE |
| Ordinary income | 525 | 43.0% | S100Z3UE |
| Pretax income | 525 | 43.0% | S100Z3UE |
| Income tax | 178 | 14.6% | S100Z3UE |
| Net income | 347 | 28.4% | S100Z3UE |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 25 |
| SG&A | 32 |
| Operating income | 43 |
| (Ref.) Net income | 28 |

### Margin funnel

Gross margin 75.1% → Operating margin 43.4% → Net margin 28.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +19.5%; Core profit growth: +43.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.22×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2025 → FY ending Jun 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,022 | 1,221 | 199 | +19.5% |
| Gross profit | 758 | 917 | 159 | +21.0% |
| Operating income | 369 | 530 | 160 | +43.4% |
| Operating cash flow | 410 | 415 | 5 | +1.3% |
| Free cash flow | 400 | 380 | -20 | -4.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2025 | 1,022 | 369 | 36.2% | 246 | 410 | 400 | S100Z3UE |
| FY ending Jun 2026 | 1,221 | 530 | 43.4% | 347 | 415 | 380 | S100Z3UE |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥55.5M |
| Operating income per employee (consolidated) | ¥24.1M |
| Net income per employee (consolidated) | ¥15.8M |

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

| History | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: |
| Employees (consolidated) | 18 | 22 |
| Average salary (parent company) | — | ¥5.4M |
| Average age (parent company) | — | 29.8 years |
| Average tenure (parent company) | — | 3.3 years |

Year over year: Employees (consolidated) +22.2% · Revenue (consolidated) +19.5%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 415 | 34.0% | S100Z3UE |
| Capital expenditure | 35 | 2.9% | S100Z3UE |
| Free cash flow | 380 | 31.2% | 算出 |
| Investing cash flow | -35 | -2.9% | S100Z3UE |
| Financing cash flow | -39 | -3.2% | S100Z3UE |
| Dividends paid | 12 | 1.0% | S100Z3UE |
| Change in cash | 342 | 28.0% | S100Z3UE |
| Cash and equivalents | 1,031 | 84.4% | S100Z3UE |

## 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 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 689 | 1,031 | S100Z3UE |
| Total assets | 954 | 1,318 | S100Z3UE |
| Net assets | 419 | 753 | S100Z3UE |
| Share capital | 10 | 10 | S100Z3UE |
| Property, plant and equipment | 61 | 56 | S100Z3UE |
| Intangible assets excluding goodwill | 32 | 53 | S100Z3UE |
| Current assets | 762 | 1,117 | S100Z3UE |
| Current liabilities | 463 | 508 | S100Z3UE |
| Short-term borrowings | 15 | 15 | S100Z3UE |
| Long-term borrowings | 25 | 9 | S100Z3UE |
| Total liabilities | 535 | 565 | S100Z3UE |
| Equity attributable to owners of parent | 419 | 753 | S100Z3UE |
| Retained earnings | 409 | 743 | S100Z3UE |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 78% | S100Z3UE |
| Property, plant and equipment | 4% | S100Z3UE |
| Intangibles and goodwill | 4% | S100Z3UE |
| Other assets | 14% | S100Z3UE |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 43% | S100Z3UE |
| Equity | 57% | S100Z3UE |
| Other liabilities | 0% | S100Z3UE |

### Balance sheet history

| Metric | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: |
| Total assets | 954 | 1,318 |
| Equity | 419 | 753 |
| Interest-bearing debt | — | — |
| Cash | 689 | 1,031 |

## 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) | 4.6% | S100Z3UE |
| Fixed assets ÷ total assets | 4.3% | S100Z3UE |
| Goodwill ÷ parent equity | — | —, S100Z3UE |

### 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) | 78.2% |
| Cash ÷ revenue | 84.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 78.4% |
| Cash vs. profit gap | 69 JPY mn (of net income 19.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 3.5% |
| Shareholder payments — dividends / FCF | 3.2% |
| CapEx intensity (capex ÷ revenue) | 2.9% |
| Investing CF relative to operating CF | 8.4% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2025 | 24.1% | 1.07× | 25.8% | 2.28× | 58.8% | S100Z3UE |
| 2026 | 28.4% | 1.07× | 30.5% | 1.94× | 59.2% | S100Z3UE |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| マネーストレージ株式会社 | Major shareholder | 40.0% | 2026-06-30 |
| 大江 繭子 | Major shareholder | 31.5% | 2026-06-30 |
| 西田 厚生 | Major shareholder | 8.6% | 2026-06-30 |
| 赤松 哲典 | Major shareholder | 4.3% | 2026-06-30 |
| 西田 幸子 | Major shareholder | 4.3% | 2026-06-30 |
| 古市 直子 | Major shareholder | 4.3% | 2026-06-30 |
| 西田 美朝 | Major shareholder | 3.5% | 2026-06-30 |
| 西田 大翔 | Major shareholder | 3.5% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第11期(2025/07/01－2026/06/30) | S100Z3UE | 2026-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3UE,, |

## 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).