# Colan Totte.Co.,Ltd.: business model and financials

> Latest period: FY ending Sep 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第28期(2024/10/01－2025/09/30) (S100XBZW)
> Page: https://vizora.meequs.com/en/company/colan-totte
> Retrieved: 2026-09-30T21:06:17.949Z

## Company

Colan Totte., founded in 1997, is a company in Medical Devices listed on TSE Growth. It has 104 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Colan Totte.Co.,Ltd. |
| Ticker | 7792 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7792.T) |
| Listing | TSE Growth |
| Head office | 大阪市中央区南船場二丁目10番26号 |
| Representative (per filing) | 代表取締役社長 小松 克已 |
| Founded | Oct 1997 |
| Share capital | ¥489.3M |
| Employees (consolidated) | 104 |
| Average salary (parent only) | ¥6.1M |
| Fiscal year end | September |
| Website | colantotte.co.jp (https://colantotte.co.jp/) |
| Corporate number | 8120001073372 |
| EDINET | E36670 |
| Industries (Vizora) | Medical Devices |

> Profile source: annual securities report (S100XBZW, filed 2025-12-22). As of filing

## Five-axis industry profile

Primary industry: Medical Devices (2025-09-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 88.2 | 38 |
| Profitability | 85.9 | 39 |
| Cash conversion | 22.4 | 38 |
| Efficiency | 88.5 | 39 |

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)

- Colan Totte. brought in ¥6.92B in revenue.
- Out of every ¥100 of sales, about ¥26 is left as operating profit.
- Revenue changed +16.4% from the prior year, operating profit +20.6%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥6917910000 → ¥1328215000
- Net income → operating cash flow: ¥1328215000 → ¥998346000（difference ¥-329869000）
- Main uses of operating cash flow: CapEx ¥287544000 / dividends ¥271578000 / buybacks —
- Change in cash: ¥422837000
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 | ¥6.92B |  |
| Operating income | ¥1.81B | Margin 26.2% |
| Net income | ¥1.33B | Margin 19.2% |
| Free cash flow | ¥710.8M |  |
| Employees (consolidated) | 104 |  |
| EPS | ¥146.49 |  |
| Diluted EPS | ¥145.54 |  |
| Book value per share | ¥568.39 |  |
| Equity ratio | 76.9% |  |
| Shares outstanding | 9,092,100 |  |
| Shareholders | 6,146 |  |
| Average salary (parent only) | ¥6.1M | Filing company only |
| Cash ratio | 32.5% | Cash ÷ revenue 31.5% |
| Vs. industry median margin | +15.1 pp | Medical Devices |
| ROE | 28.6% | Derived from disclosed figures |
| ROA | 21.9% | Derived from disclosed figures |

## Notable figures

- FY2025, operating income keeps 26 per ¥100 of revenue
- FY2025, cash is 32% of total assets

## What changed in 5 years

| Metric | FY ending Sep 2020 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2886212000 | ¥6917910000 | +139.7% |
| Operating income | ¥504545000 | ¥1810085000 | +258.8% |
| Operating margin | 17.5% | 26.2% | +8.7 pp |
| Employees | 82 people | 104 people | +26.8% |
| Cash and equivalents | ¥495325000 | ¥2180025000 | +340.1% |

### 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, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,918 | 100.0% | S100XBZW |
| Cost of revenue | 2,260 | 32.7% | 算出 |
| Gross profit | 4,658 | 67.3% | S100XBZW |
| SG&A | 2,848 | 41.2% | S100XBZW |
| Operating income | 1,810 | 26.2% | S100XBZW |
| Ordinary income | 1,828 | 26.4% | S100XBZW |
| Pretax income | 1,828 | 26.4% | S100XBZW |
| Income tax | 499 | 7.2% | S100XBZW |
| Net income | 1,328 | 19.2% | S100XBZW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 33 |
| SG&A | 41 |
| Operating income | 26 |
| (Ref.) Net income | 19 |

### Margin funnel

Gross margin 67.3% → Operating margin 26.2% → Net margin 19.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +16.4%; Core profit growth: +20.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.26×
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 | 5,945 | 6,918 | 973 | +16.4% |
| Gross profit | 3,968 | 4,658 | 690 | +17.4% |
| Operating income | 1,501 | 1,810 | 309 | +20.6% |
| Operating cash flow | 884 | 998 | 115 | +13.0% |
| Free cash flow | 357 | 711 | 354 | +99.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2020 | 2,886 | 505 | 17.5% | 325 | 379 | 318 | S100N3ZX |
| FY ending Sep 2021 | 3,753 | 646 | 17.2% | 421 | 637 | 597 | S100PUFW |
| FY ending Sep 2022 | 4,664 | 951 | 20.4% | 610 | 148 | 75 | S100SIFB |
| FY ending Sep 2023 | 5,407 | 1,017 | 18.8% | 645 | 956 | 867 | S100UZFM |
| FY ending Sep 2024 | 5,945 | 1,501 | 25.2% | 1,024 | 884 | 357 | S100XBZW |
| FY ending Sep 2025 | 6,918 | 1,810 | 26.2% | 1,328 | 998 | 711 | S100XBZW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥66.5M |
| Operating income per employee (consolidated) | ¥17.4M |
| Net income per employee (consolidated) | ¥12.8M |

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) | 88 | 90 | 99 | 96 | 104 |
| Average salary (parent company) | ¥5.4M | ¥5.7M | ¥5.7M | ¥5.8M | ¥6.1M |
| Average age (parent company) | 43.2 years | 43.4 years | 42.6 years | 43.6 years | 44.1 years |
| Average tenure (parent company) | 5.7 years | 6.3 years | 6.5 years | 7.1 years | 7.1 years |

Year over year: Employees (consolidated) +8.3% · Revenue (consolidated) +16.4%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 998 | 14.4% | S100XBZW |
| Capital expenditure | 288 | 4.2% | S100XBZW |
| Free cash flow | 711 | 10.3% | 算出 |
| Investing cash flow | -303 | -4.4% | S100XBZW |
| Financing cash flow | -272 | -3.9% | S100XBZW |
| Dividends paid | 272 | 3.9% | S100XBZW |
| Change in cash | 423 | 6.1% | S100XBZW |
| Cash and equivalents | 2,180 | 31.5% | S100XBZW |

## 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 | 1,534 | 1,328 | 1,791 | 1,757 | 2,180 | S100SIFB, S100UZFM, S100XBZW |
| Total assets | 3,618 | 4,104 | 4,880 | 5,432 | 6,717 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Net assets | 2,240 | 2,745 | 3,266 | 4,110 | 5,168 | S100SIFB, S100UZFM, S100XBZW |
| Share capital | 477 | 478 | 487 | 488 | 489 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Property, plant and equipment | 639 | 645 | 663 | 1,093 | 1,367 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Intangible assets excluding goodwill | 68 | 47 | 38 | 35 | 30 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Investment securities | — | — | — | 100 | 99 | S100XBZW |
| Current assets | 2,779 | 3,256 | 3,984 | 3,898 | 4,826 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Current liabilities | 1,108 | 1,202 | 1,610 | 1,312 | 1,527 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Long-term borrowings | 100 | 23 | — | — | — | S100PUFW, S100SIFB |
| Bonds | 168 | 133 | — | — | — | S100PUFW, S100SIFB |
| Total liabilities | 1,378 | 1,358 | 1,614 | 1,322 | 1,549 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Equity attributable to owners of parent | 2,240 | 2,745 | 3,266 | 4,112 | 5,171 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Retained earnings | 1,297 | 1,800 | 2,302 | 3,146 | 4,202 | S100PUFW, S100SIFB, S100UZFM, S100XBZW |
| Treasury stock | — | -0 | -0 | -0 | -0 | S100SIFB, S100UZFM, S100XBZW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 33% | S100XBZW |
| Property, plant and equipment | 20% | S100XBZW |
| Intangibles and goodwill | 0% | S100XBZW |
| Investment securities | 2% | S100XBZW |
| Other assets | 45% | S100XBZW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 23% | S100XBZW |
| Equity | 77% | S100XBZW |
| Other liabilities | 0% | S100XBZW |

### 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 | 3,618 | 4,104 | 4,880 | 5,432 | 6,717 |
| Equity | 2,240 | 2,745 | 3,266 | 4,110 | 5,168 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,534 | 1,328 | 1,791 | 1,757 | 2,180 |

## 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) | 19.8% | S100XBZW |
| Fixed assets ÷ total assets | 20.4% | S100XBZW |
| Goodwill ÷ parent equity | — | —, S100XBZW |

### 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) | 32.5% |
| Cash ÷ revenue | 31.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 55.2% |
| Cash vs. profit gap | -330 JPY mn (of net income -24.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 20.4% |
| Shareholder payments — dividends / FCF | 38.2% |
| CapEx intensity (capex ÷ revenue) | 4.2% |
| Investing CF relative to operating CF | 30.4% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 11.2% | 1.04× | 11.6% | 1.62× | 18.8% | S100PUFW |
| 2022 | 13.1% | 1.21× | 15.8% | 1.55× | 24.5% | S100SIFB |
| 2023 | 11.9% | 1.20× | 14.4% | 1.49× | 21.5% | S100UZFM |
| 2024 | 17.2% | 1.15× | 19.9% | 1.40× | 27.8% | S100XBZW |
| 2025 | 19.2% | 1.14× | 21.9% | 1.31× | 28.6% | S100XBZW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社アーク・クエスト | Major shareholder | 39.6% | 2025-09-30 |
| 小松 克已 | Major shareholder | 17.6% | 2025-09-30 |
| 特定有価証券信託受託者株式会社ＳＭＢＣ信託銀行 | Major shareholder | 8.8% | 2025-09-30 |
| 小松 由美子 | Major shareholder | 3.0% | 2025-09-30 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 1.6% | 2025-09-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.5% | 2025-09-30 |
| ヨシダ トモヒロ | Major shareholder | 1.1% | 2025-09-30 |
| 衣笠 雄二 | Major shareholder | 0.8% | 2025-09-30 |
| 中原 摩紗子 | Major shareholder | 0.5% | 2025-09-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.5% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第28期(2024/10/01－2025/09/30) | S100XBZW | 2025-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XBZW,, |
| 有価証券報告書－第27期(2023/10/01－2024/09/30) | S100UZFM | 2024-12-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UZFM,, |
| 有価証券報告書－第26期(2022/10/01－2023/09/30) | S100SIFB | 2023-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SIFB,, |
| 有価証券報告書－第25期(令和3年10月1日－令和4年9月30日) | S100PUFW | 2022-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PUFW,, |
| 有価証券報告書－第24期(令和2年10月1日－令和3年9月30日) | S100N3ZX | 2021-12-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100N3ZX,, |

## 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).