# Cocorport Inc.: 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15期(2025/07/01－2026/06/30) (S100Z37I)
> Page: https://vizora.meequs.com/en/company/cocorport
> Retrieved: 2026-09-30T20:26:30.521Z

## Company

Cocorport, founded in 2012, is a company in HR & Staffing listed on TSE Growth. It has 854 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Cocorport, Inc. |
| Ticker | 9346 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9346.T) |
| Listing | TSE Growth |
| Head office | 神奈川県川崎市川崎区砂子二丁目5番11号 |
| Representative (per filing) | 代表取締役社長 佐原 敦矢 |
| Founded | Jan 2012 |
| Share capital | ¥580M |
| Employees (consolidated) | 854 |
| Average salary (parent only) | ¥4.2M |
| Fiscal year end | June |
| Website | www.cocorport.co.jp (https://www.cocorport.co.jp/) |
| Corporate number | 9020001094849 |
| EDINET | E36393 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100Z37I, filed 2026-09-18). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 61 | 68 |
| Profitability | 64.2 | 88 |
| Cash conversion | 38.1 | 80 |
| Efficiency | 73.3 | 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)

- Cocorport brought in ¥7.11B in revenue.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +11.5% from the prior year, operating profit +5.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥7112619000 → ¥584439000
- Net income → operating cash flow: ¥584439000 → ¥668031000（difference ¥83592000）
- Main uses of operating cash flow: CapEx ¥115465000 / dividends ¥173293000 / buybacks ¥67075000
- Change in cash: ¥229099000
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 | ¥7.11B |  |
| Operating income | ¥813.6M | Margin 11.4% |
| Net income | ¥584.4M | Margin 8.2% |
| Free cash flow | ¥552.6M |  |
| Employees (consolidated) | 854 |  |
| EPS | ¥158.4 |  |
| Diluted EPS | ¥156.5 |  |
| Book value per share | ¥894.32 |  |
| Equity ratio | 73.5% |  |
| Shares outstanding | 3,677,657 |  |
| Shareholders | 1,396 |  |
| Average salary (parent only) | ¥4.2M | Filing company only |
| Cash ratio | 43.7% | Cash ÷ revenue 27.5% |
| Vs. industry median margin | +2.8 pp | HR & Staffing |
| ROE | 18.8% | Derived from disclosed figures |
| ROA | 14.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 44% of total assets

## What changed in 4 years

| Metric | FY ending Jun 2022 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4176184000 | ¥7112619000 | +70.3% |
| Operating income | ¥380376000 | ¥813567000 | +113.9% |
| Operating margin | 9.1% | 11.4% | +2.3 pp |
| Employees | 587 people | 854 people | +45.5% |
| Cash and equivalents | ¥47186000 | ¥1957219000 | +4047.9% |

### Change in segment revenue mix

Span: FY ending Jun 2022 → 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 | 7,113 | 100.0% | S100Z37I |
| Cost of revenue | 5,115 | 71.9% | S100Z37I |
| Gross profit | 1,998 | 28.1% | S100Z37I |
| SG&A | 1,184 | 16.6% | S100Z37I |
| Operating income | 814 | 11.4% | S100Z37I |
| Ordinary income | 832 | 11.7% | S100Z37I |
| Pretax income | 790 | 11.1% | S100Z37I |
| Income tax | 206 | 2.9% | S100Z37I |
| Net income | 584 | 8.2% | S100Z37I |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 72 |
| SG&A | 17 |
| Operating income | 11 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 28.1% → Operating margin 11.4% → Net margin 8.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +11.5%; Core profit growth: +5.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.47×
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 | 6,377 | 7,113 | 736 | +11.5% |
| Gross profit | 1,806 | 1,998 | 191 | +10.6% |
| Operating income | 772 | 814 | 42 | +5.4% |
| Operating cash flow | 598 | 668 | 70 | +11.7% |
| Free cash flow | 497 | 553 | 56 | +11.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2022 | 4,176 | 380 | 9.1% | 259 | 176 | 105 | S100RWZ2 |
| FY ending Jun 2023 | 5,084 | 612 | 12.0% | 453 | 421 | 328 | S100UC5F |
| FY ending Jun 2024 | 5,751 | 704 | 12.2% | 526 | 563 | 492 | S100WOJI |
| FY ending Jun 2025 | 6,377 | 772 | 12.1% | 562 | 598 | 497 | S100Z37I |
| FY ending Jun 2026 | 7,113 | 814 | 11.4% | 584 | 668 | 553 | S100Z37I |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥8.3M |
| Operating income per employee (consolidated) | ¥952.7K |
| Net income per employee (consolidated) | ¥684.4K |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 587 | 695 | 739 | 791 | 854 |
| Average salary (parent company) | — | ¥3.9M | ¥4M | ¥4.1M | ¥4.2M |
| Average age (parent company) | — | 35.6 years | 36.0 years | 36.1 years | 36.0 years |
| Average tenure (parent company) | — | 2.7 years | 3.2 years | 3.4 years | 3.6 years |

Year over year: Employees (consolidated) +8.0% · Revenue (consolidated) +11.5%

## 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 | 668 | 9.4% | S100Z37I |
| Capital expenditure | 115 | 1.6% | S100Z37I |
| Free cash flow | 553 | 7.8% | 算出 |
| Investing cash flow | -204 | -2.9% | S100Z37I |
| Financing cash flow | -235 | -3.3% | S100Z37I |
| Dividends paid | 173 | 2.4% | S100Z37I |
| Share buyback | 67 | 0.9% | S100Z37I |
| Change in cash | 229 | 3.2% | S100Z37I |
| Cash and equivalents | 1,957 | 27.5% | S100Z37I |

## 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 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 47 | 835 | 1,271 | 1,728 | 1,957 | S100UC5F, S100WOJI, S100Z37I |
| Total assets | 1,435 | 2,508 | 3,169 | 3,880 | 4,475 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Net assets | 611 | 1,810 | 2,350 | 2,938 | 3,289 | S100UC5F, S100WOJI, S100Z37I |
| Share capital | 183 | 556 | 563 | 577 | 580 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Property, plant and equipment | 238 | 304 | 367 | 426 | 507 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Intangible assets excluding goodwill | 15 | 12 | 9 | 9 | 10 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Current assets | 959 | 1,905 | 2,460 | 3,034 | 3,406 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Current liabilities | 700 | 579 | 654 | 712 | 836 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Short-term borrowings | 166 | — | — | — | — | S100RWZ2 |
| Long-term borrowings | 44 | 9 | — | — | — | S100RWZ2, S100UC5F |
| Total liabilities | 824 | 698 | 819 | 942 | 1,186 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Equity attributable to owners of parent | 611 | 1,810 | 2,350 | 2,938 | 3,289 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Retained earnings | 427 | 880 | 1,406 | 1,968 | 2,312 | S100RWZ2, S100UC5F, S100WOJI, S100Z37I |
| Treasury stock | — | -0 | -0 | -0 | — | S100UC5F, S100WOJI, S100Z37I |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 44% | S100Z37I |
| Property, plant and equipment | 11% | S100Z37I |
| Intangibles and goodwill | 0% | S100Z37I |
| Other assets | 45% | S100Z37I |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 27% | S100Z37I |
| Equity | 73% | S100Z37I |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,435 | 2,508 | 3,169 | 3,880 | 4,475 |
| Equity | 611 | 1,810 | 2,350 | 2,938 | 3,289 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 47 | 835 | 1,271 | 1,728 | 1,957 |

## 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) | 7.1% | S100Z37I |
| Fixed assets ÷ total assets | 11.3% | S100Z37I |
| Goodwill ÷ parent equity | — | —, S100Z37I |

### 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) | 43.7% |
| Cash ÷ revenue | 27.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 82.1% |
| Cash vs. profit gap | 84 JPY mn (of net income 14.3%) |
| Shareholder returns / net income | 41.1% |
| Shareholder returns / FCF | 43.5% |
| Shareholder payments — dividends / net income | 29.7% |
| Shareholder payments — dividends / FCF | 31.4% |
| CapEx intensity (capex ÷ revenue) | 1.6% |
| Investing CF relative to operating CF | 30.5% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 6.2% | 2.91× | 18.0% | 2.35× | 42.3% | S100RWZ2 |
| 2023 | 8.9% | 2.58× | 23.0% | 1.63× | 37.4% | S100UC5F |
| 2024 | 9.1% | 2.03× | 18.5% | 1.36× | 25.3% | S100WOJI |
| 2025 | 8.8% | 1.81× | 15.9% | 1.33× | 21.3% | S100Z37I |
| 2026 | 8.2% | 1.70× | 14.0% | 1.34× | 18.8% | S100Z37I |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Ａ＆Ｃコーポレーション | Major shareholder | 10.4% | 2026-06-30 |
| 株式会社ＫＲＡＣ | Major shareholder | 8.3% | 2026-06-30 |
| 株式会社アレジアンス | Major shareholder | 6.4% | 2026-06-30 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 5.2% | 2026-06-30 |
| 佐原 敦矢 | Major shareholder | 3.9% | 2026-06-30 |
| 長尾 吉祐 | Major shareholder | 3.7% | 2026-06-30 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.4% | 2026-06-30 |
| 伊藤 純一 | Major shareholder | 3.3% | 2026-06-30 |
| ココルポート社員持株会 | Major shareholder | 3.0% | 2026-06-30 |
| 高原 健人 | Major shareholder | 2.7% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第15期(2025/07/01－2026/06/30) | S100Z37I | 2026-09-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z37I,, |
| 有価証券報告書－第14期(2024/07/01－2025/06/30) | S100WOJI | 2025-09-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WOJI,, |
| 有価証券報告書－第13期(2023/07/01－2024/06/30) | S100UC5F | 2024-09-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UC5F,, |
| 有価証券報告書－第12期(2022/07/01－2023/06/30) | S100RWZ2 | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWZ2,, |

## 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).