# COPRO-HOLDINGS. Co., Ltd.: 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20期(2025/04/01－2026/03/31) (S100YDFZ)
> Page: https://vizora.meequs.com/en/company/copro-holdings
> Retrieved: 2026-09-30T21:38:50.942Z

## Company

Copro-Holdings., founded in 2006, is a company in HR & Staffing listed on TSE Prime. It has 8,402 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | COPRO-HOLDINGS. Co., Ltd. |
| Ticker | 7059 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7059.T) |
| Listing | TSE Prime |
| Head office | 愛知県名古屋市中区錦三丁目25番1号 |
| Representative (per filing) | 代表取締役社長 清川 甲介 |
| Founded | Oct 2006 |
| Share capital | ¥30M |
| Employees (consolidated) | 8,402 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | March |
| Website | www.copro-h.co.jp (https://www.copro-h.co.jp/) |
| Corporate number | 7180001059094 |
| EDINET | E34699 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100YDFZ, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 71.3 | 68 |
| Profitability | 58.5 | 88 |
| Cash conversion | 40.6 | 80 |
| Efficiency | 40.3 | 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)

- Copro-Holdings. brought in ¥36.7B in revenue.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +22.1% from the prior year, operating profit +31.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥36661596000 → ¥2880214000
- Net income → operating cash flow: ¥2880214000 → ¥3066451000（difference ¥186237000）
- Main uses of operating cash flow: CapEx ¥713756000 / dividends ¥1335833000 / buybacks —
- Change in cash: ¥2674277000
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 | ¥36.7B |  |
| Operating income | ¥3.63B | Margin 9.9% |
| Net income | ¥2.88B | Margin 7.9% |
| Free cash flow | ¥2.35B |  |
| Employees (consolidated) | 8,402 |  |
| EPS | ¥45.79 |  |
| Diluted EPS | ¥45.36 |  |
| Book value per share | ¥108.65 |  |
| Equity ratio | 20.8% |  |
| Shares outstanding | 40,000,000 |  |
| Treasury shares | 1,675,900 |  |
| Shareholders | 9,317 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 18.6% | Cash ÷ revenue 24.1% |
| Vs. industry median margin | +1.3 pp | HR & Staffing |
| ROE | 31.8% | Derived from disclosed figures |
| ROA | 9.5% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 2.4× its level five years ago

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥14836579000 | ¥36661596000 | +147.1% |
| Operating income | ¥1437722000 | ¥3632517000 | +152.7% |
| Operating margin | 9.7% | 9.9% | +0.2 pp |
| Employees | 2,280 people | 8,402 people | +268.5% |
| Cash and equivalents | ¥5283819000 | ¥8826974000 | +67.1% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 36,662 | 100.0% | S100YDFZ |
| Cost of revenue | 26,300 | 71.7% | S100YDFZ |
| Gross profit | 10,361 | 28.3% | S100YDFZ |
| SG&A | 6,729 | 18.4% | S100YDFZ |
| Operating income | 3,633 | 9.9% | S100YDFZ |
| Ordinary income | 3,665 | 10.0% | S100YDFZ |
| Pretax income | 3,902 | 10.6% | S100YDFZ |
| Income tax | 1,022 | 2.8% | S100YDFZ |
| Net income | 2,880 | 7.9% | S100YDFZ |
| Net income attributable to owners | 2,880 | 7.9% | S100YDFZ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 72 |
| SG&A | 18 |
| Operating income | 10 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 28.3% → Operating margin 9.9% → Net margin 7.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +22.1%; Core profit growth: +31.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.42×
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 | 30,015 | 36,662 | 6,646 | +22.1% |
| Gross profit | 8,309 | 10,361 | 2,053 | +24.7% |
| Operating income | 2,764 | 3,633 | 869 | +31.4% |
| Net income attributable to owners | 1,821 | 2,880 | 1,059 | +58.2% |
| Operating cash flow | 2,233 | 3,066 | 833 | +37.3% |
| Free cash flow | 1,997 | 2,353 | 355 | +17.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 13,123 | 1,593 | 12.1% | 1,084 | 1,126 | 1,039 | S100LNUU |
| FY ending Mar 2021 | 14,837 | 1,438 | 9.7% | 1,009 | 989 | 761 | S100Q8KM |
| FY ending Mar 2022 | 15,589 | 1,621 | 10.4% | 963 | 825 | 519 | S100R0ZS |
| FY ending Mar 2023 | 18,791 | 1,322 | 7.0% | 865 | 1,011 | 723 | S100TPZ8 |
| FY ending Mar 2024 | 24,098 | 2,142 | 8.9% | 1,463 | 2,328 | 1,911 | S100VZON |
| FY ending Mar 2025 | 30,015 | 2,764 | 9.2% | 1,821 | 2,233 | 1,997 | S100YDFZ |
| FY ending Mar 2026 | 36,662 | 3,633 | 9.9% | 2,880 | 3,066 | 2,353 | S100YDFZ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥4.4M |
| Operating income per employee (consolidated) | ¥432.3K |
| Net income per employee (consolidated) | ¥342.8K |

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) | 2,377 | 3,301 | 4,189 | 5,154 | 8,402 |
| Average salary (parent company) | ¥4.4M | ¥4.5M | ¥4.7M | ¥4.8M | ¥5.1M |
| Average age (parent company) | 34.9 years | 33.5 years | 33.4 years | 34.2 years | 34.0 years |
| Average tenure (parent company) | 3.3 years | 3.1 years | 3.6 years | 3.2 years | 3.6 years |

Year over year: Employees (consolidated) +63.0% · Revenue (consolidated) +22.1%

## 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 | 3,066 | 8.4% | S100YDFZ |
| Capital expenditure | 714 | 1.9% | S100YDFZ |
| Free cash flow | 2,353 | 6.4% | 算出 |
| Investing cash flow | -28,368 | -77.4% | S100YDFZ |
| Financing cash flow | 27,977 | 76.3% | S100YDFZ |
| Dividends paid | 1,336 | 3.6% | S100YDFZ |
| Change in cash | 2,674 | 7.3% | S100YDFZ |
| Cash and equivalents | 8,827 | 24.1% | S100YDFZ |

## 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 | 4,021 | 4,370 | 5,912 | 6,153 | 8,827 | S100TPZ8, S100VZON, S100YDFZ |
| Total assets | 8,841 | 9,995 | 12,151 | 13,057 | 47,471 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Net assets | 6,575 | 7,112 | 8,116 | 8,400 | 9,925 | S100TPZ8, S100VZON, S100YDFZ |
| Share capital | 30 | 30 | 30 | 30 | 30 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Property, plant and equipment | 407 | 584 | 586 | 598 | 1,162 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Intangible assets excluding goodwill | 999 | 988 | 1,075 | 870 | 28,202 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Goodwill | 781 | 675 | 656 | 556 | 27,809 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Current assets | 6,748 | 7,752 | 9,890 | 10,778 | 16,820 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Current liabilities | 2,166 | 2,717 | 3,849 | 4,427 | 36,898 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Short-term borrowings | — | — | — | — | 29,243 | S100YDFZ |
| Total liabilities | 2,266 | 2,883 | 4,034 | 4,658 | 37,546 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Equity attributable to owners of parent | 6,537 | 7,036 | 8,054 | 8,247 | 9,887 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Retained earnings | 5,619 | 6,112 | 6,922 | 7,695 | 9,240 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |
| Treasury stock | -349 | -345 | -224 | -855 | -750 | S100R0ZS, S100TPZ8, S100VZON, S100YDFZ |

### 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 | 8,841 | 9,995 | 12,151 | 13,057 | 47,471 |
| Equity | 6,575 | 7,112 | 8,116 | 8,400 | 9,925 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,021 | 4,370 | 5,912 | 6,153 | 8,827 |

## 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) | 3.2% | S100YDFZ |
| Fixed assets ÷ total assets | 2.4% | S100YDFZ |
| Goodwill ÷ parent equity | 281.3% | S100YDFZ |

Goodwill over 4 years: 781 → 27,809 JPY; total investing cash flow: -30,597 JPY. This does not imply causation.

### 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) | 18.6% |
| Cash ÷ revenue | 24.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 84.4% |
| Cash vs. profit gap | 186 JPY mn (of net income 6.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 46.4% |
| Shareholder payments — dividends / FCF | 56.8% |
| CapEx intensity (capex ÷ revenue) | 1.9% |
| Investing CF relative to operating CF | 925.1% |

## 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% | 1.76× | 10.9% | 1.35× | 14.7% | S100R0ZS |
| 2023 | 4.6% | 2.00× | 9.2% | 1.39× | 12.7% | S100TPZ8 |
| 2024 | 6.1% | 2.18× | 13.2% | 1.47× | 19.4% | S100VZON |
| 2025 | 6.1% | 2.38× | 14.4% | 1.55× | 22.3% | S100YDFZ |
| 2026 | 7.9% | 1.21× | 9.5% | 3.34× | 31.8% | S100YDFZ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社リタメコ | Major shareholder | 43.8% | 2026-03-31 |
| 清川 甲介 | Major shareholder | 13.7% | 2026-03-31 |
| 蔭山 恭一 | Major shareholder | 5.2% | 2026-03-31 |
| 森實 厚裕 | Major shareholder | 2.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.6% | 2026-03-31 |
| 藤巻 正司 | Major shareholder | 0.9% | 2026-03-31 |
| NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN （CASHPB） （常任代理人 野村證券株式会社） | Major shareholder | 0.8% | 2026-03-31 |
| 越川 裕介 | Major shareholder | 0.6% | 2026-03-31 |
| 登倉 義博 | Major shareholder | 0.6% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 0.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第20期(2025/04/01－2026/03/31) | S100YDFZ | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDFZ,, |
| 有価証券報告書－第19期(2024/04/01－2025/03/31) | S100VZON | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZON,, |
| 有価証券報告書－第18期(2023/04/01－2024/03/31) | S100TPZ8 | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPZ8,, |
| 有価証券報告書－第17期(2022/04/01－2023/03/31) | S100R0ZS | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0ZS,, |
| 訂正有価証券報告書－第16期(2021/04/01－2022/03/31) | S100Q8KM | 2023-02-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Q8KM,, |
| 有価証券報告書－第15期(令和2年4月1日－令和3年3月31日) | S100LNUU | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNUU,, |

## 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).