# DAIICHIKOSHO 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51期(2025/04/01－2026/03/31) (S100YK39)
> Page: https://vizora.meequs.com/en/company/daiichikosho
> Retrieved: 2026-09-30T22:08:44.014Z

## Company

Daiichikosho is a company in Music & Live Entertainment listed on TSE Prime. It has 3,694 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAIICHIKOSHO CO., LTD. |
| Ticker | 7458 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7458.T) |
| Listing | TSE Prime |
| Head office | 東京都港区三田3丁目9番6号 |
| Representative (per filing) | 代表取締役社長 保志 忠郊 |
| Share capital | ¥12.3B |
| Employees (consolidated) | 3,694 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Website | www.dkkaraoke.co.jp (https://www.dkkaraoke.co.jp/) |
| Corporate number | 6010701005431 |
| EDINET | E02824 |
| Industries (Vizora) | Music & Live Entertainment, Amusement Centers & Karaoke, Real Estate Development & Leasing, Restaurants & Pubs |

> Profile source: annual securities report (S100YK39, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Amusement Centers & Karaoke (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 50 | 5 |
| Profitability | 64.3 | 7 |
| Cash conversion | 21.4 | 7 |
| Efficiency | 21.4 | 7 |

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)

- About 44% of Daiichikosho's sales come from Karaoke cabin and restaurant, with Commercial karaoke and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +6.5% from the prior year, operating profit -0.2%.

## Company structure

- Segment revenue mix: Karaoke cabin and restaurant 43.6%、Commercial karaoke 40.1%、Other 13.0%、Music software 3.4%
- Revenue → net income: ¥162950000000 → ¥16082000000
- Net income → operating cash flow: ¥16082000000 → ¥25096000000（difference ¥9014000000）
- Main uses of operating cash flow: CapEx ¥20514000000 / dividends ¥5927000000 / buybacks ¥1884000000
- Change in cash: ¥6891000000
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 | ¥162.9B |  |
| Operating income | ¥17.9B | Margin 11.0% |
| Net income | ¥15.9B | Margin 9.8% |
| Free cash flow | ¥4.58B |  |
| Largest business | Karaoke cabin and restaurant | of segment revenue 43.6% |
| Employees (consolidated) | 3,694 |  |
| EPS | ¥109.84 |  |
| Diluted EPS | ¥109.5 |  |
| Book value per share | ¥633.21 |  |
| Equity ratio | 56.1% |  |
| Shares outstanding | 103,968,400 |  |
| Treasury shares | 591,500 |  |
| Shareholders | 53,711 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 22.0% | Cash ÷ revenue 29.7% |
| Vs. industry median margin | +2.5 pp | Amusement Centers & Karaoke |
| ROE | 13.4% | Derived from disclosed figures |
| ROA | 7.4% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥93316000000 | ¥162950000000 | +74.6% |
| Operating income | ¥-2693000000 | ¥17917000000 | — |
| Operating margin | -2.9% | 11.0% | +13.9 pp |
| Employees | 3,437 people | 3,694 people | +7.5% |
| Cash and equivalents | ¥67680000000 | ¥48475000000 | -28.4% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 業務用カラオケ → 業務用カラオケ | 40.1% |
| 業務用カラオケ → 事業再編・廃止 | 15.3% |
| カラオケ・飲食店舗 → カラオケ・飲食店舗 | 27.6% |
| 音楽ソフト → 音楽ソフト | 3.4% |
| 音楽ソフト → 事業再編・廃止 | 3.7% |
| その他 → その他 | 10.0% |
| 新設・再編 → カラオケ・飲食店舗 | 16.0% |
| 新設・再編 → その他 | 3.0% |

Segment revenue source references: 8 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Karaoke cabin and restaurant | 5 years | +22.5% | ¥71003000000 | 9.3% | 2 |
| Commercial karaoke | 5 years | +4.8% | ¥65278000000 | 18.3% | 2 |
| Other | 5 years | +17.8% | ¥21208000000 | 13.3% | 2 |
| Music software | 5 years | -3.6% | ¥5459000000 | 2.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 162,950 | 100.0% | S100YK39 |
| Cost of revenue | 106,771 | 65.5% | S100YK39 |
| Gross profit | 56,179 | 34.5% | S100YK39 |
| SG&A | 38,261 | 23.5% | S100YK39 |
| Operating income | 17,917 | 11.0% | S100YK39 |
| Ordinary income | 18,265 | 11.2% | S100YK39 |
| Pretax income | 23,636 | 14.5% | S100YK39 |
| Income tax | 7,553 | 4.6% | S100YK39 |
| Net income | 16,082 | 9.9% | S100YK39 |
| Net income attributable to owners | 15,889 | 9.8% | S100YK39 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 23 |
| Operating income | 11 |
| (Ref.) Net income | 10 |

### Margin funnel

Gross margin 34.5% → Operating margin 11.0% → Net margin 9.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +6.5%; Core profit growth: -0.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.02×
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 | 153,020 | 162,950 | 9,930 | +6.5% |
| Gross profit | 53,757 | 56,179 | 2,422 | +4.5% |
| Operating income | 17,945 | 17,917 | -28 | -0.2% |
| Net income attributable to owners | 18,178 | 15,889 | -2,289 | -12.6% |
| Operating cash flow | 24,656 | 25,096 | 440 | +1.8% |
| Free cash flow | 5,892 | 4,582 | -1,310 | -22.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 146,297 | 19,058 | 13.0% | 12,555 | 28,155 | 9,584 | S100LSKX |
| FY ending Mar 2021 | 93,316 | -2,693 | -2.9% | -18,782 | 7,755 | -1,181 | S100OHBL |
| FY ending Mar 2022 | 94,787 | -289 | -0.3% | 5,196 | 18,165 | 8,919 | S100R48Z |
| FY ending Mar 2023 | 128,156 | 12,954 | 10.1% | 8,320 | 24,869 | 14,208 | S100TQPU |
| FY ending Mar 2024 | 146,746 | 18,601 | 12.7% | 12,568 | 26,799 | -22,100 | S100W2R8 |
| FY ending Mar 2025 | 153,020 | 17,945 | 11.7% | 18,178 | 24,656 | 5,892 | S100YK39 |
| FY ending Mar 2026 | 162,950 | 17,917 | 11.0% | 15,889 | 25,096 | 4,582 | S100YK39 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥44.1M |
| Operating income per employee (consolidated) | ¥4.9M |
| Net income per employee (consolidated) | ¥4.3M |

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) | 3,369 | 3,340 | 3,411 | 3,516 | 3,694 |
| Average salary (parent company) | ¥5.9M | ¥5.9M | ¥5.9M | ¥6.1M | ¥6.2M |
| Average age (parent company) | 41.3 years | 41.7 years | 41.6 years | 41.2 years | 40.5 years |
| Average tenure (parent company) | 12.5 years | 12.8 years | 12.6 years | 12.4 years | 11.8 years |

Year over year: Employees (consolidated) +5.1% · Revenue (consolidated) +6.5%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Commercial karaoke | 65,278 | 40.1% | 11,922 | 18.3% |
| Karaoke cabin and restaurant | 71,003 | 43.6% | 6,633 | 9.3% |
| Music software | 5,459 | 3.4% | 140 | 2.6% |
| Other | 21,208 | 13.0% | 2,812 | 13.3% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Commercial karaoke | 40.1% | 55.4% | 15.4 | 18.3% |
| Karaoke cabin and restaurant | 43.6% | 30.8% | -12.7 | 9.3% |
| Music software | 3.4% | 0.7% | -2.7 | 2.6% |
| Other | 13.0% | 13.1% | 0.1 | 13.3% |

Segment → industry: Music software → Music & Live Entertainment / Karaoke cabin and restaurant → Amusement Centers & Karaoke / Commercial karaoke → Amusement Centers & Karaoke / Other → Real Estate Development & Leasing / Karaoke cabin and restaurant → Restaurants & Pubs

## 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 | 25,096 | 15.4% | S100YK39 |
| Capital expenditure | 20,514 | 12.6% | S100YK39 |
| Free cash flow | 4,582 | 2.8% | 算出 |
| Investing cash flow | -11,041 | -6.8% | S100YK39 |
| Financing cash flow | -7,196 | -4.4% | S100YK39 |
| Dividends paid | 5,927 | 3.6% | S100YK39 |
| Share buyback | 1,884 | 1.2% | S100YK39 |
| Change in cash | 6,891 | 4.2% | S100YK39 |
| Cash and equivalents | 48,475 | 29.7% | S100YK39 |

## 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 | 68,125 | 71,423 | 49,306 | 41,584 | 48,475 | S100TQPU, S100W2R8, S100YK39 |
| Total assets | 180,389 | 188,623 | 211,386 | 209,316 | 220,445 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Net assets | 105,160 | 107,915 | 108,991 | 117,862 | 125,349 | S100TQPU, S100W2R8, S100YK39 |
| Share capital | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Inventories | 7,596 | 11,735 | 11,216 | 13,769 | 14,023 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Property, plant and equipment | 62,987 | 62,292 | 99,233 | 98,958 | 98,361 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Intangible assets excluding goodwill | 6,858 | 6,663 | 11,285 | 10,982 | 13,572 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Goodwill | 996 | 606 | 5,668 | 5,094 | 7,435 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Investment securities | 4,507 | 4,914 | 6,060 | 7,044 | 6,429 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Current assets | 84,277 | 93,429 | 73,479 | 67,543 | 77,209 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Current liabilities | 21,658 | 35,288 | 36,914 | 35,990 | 27,351 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Trade payables | 2,614 | 4,954 | 4,332 | 3,885 | 2,375 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Short-term borrowings | 6,098 | 13,511 | 12,885 | 12,443 | 3,196 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Long-term borrowings | 41,705 | 31,135 | 51,533 | 41,128 | 51,682 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Total liabilities | 75,229 | 80,707 | 102,394 | 91,454 | 95,096 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Non-controlling interests | 1,397 | 1,172 | 1,035 | 1,065 | 1,246 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Equity attributable to owners of parent | 103,628 | 105,876 | 106,340 | 114,481 | 122,263 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Retained earnings | 87,733 | 89,885 | 96,350 | 108,490 | 106,897 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |
| Treasury stock | -570 | -571 | -6,571 | -10,571 | -1,195 | S100R48Z, S100TQPU, S100W2R8, S100YK39 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 22% | S100YK39 |
| Inventories | 6% | S100YK39 |
| Property, plant and equipment | 45% | S100YK39 |
| Intangibles and goodwill | 9% | S100YK39 |
| Investment securities | 3% | S100YK39 |
| Other assets | 15% | S100YK39 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 1% | S100YK39 |
| Other liabilities | 42% | S100YK39 |
| Equity | 57% | S100YK39 |

### 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 | 180,389 | 188,623 | 211,386 | 209,316 | 220,445 |
| Equity | 105,160 | 107,915 | 108,991 | 117,862 | 125,349 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 68,125 | 71,423 | 49,306 | 41,584 | 48,475 |

## 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) | 60.4% | S100YK39 |
| Fixed assets ÷ total assets | 44.6% | S100YK39 |
| Goodwill ÷ parent equity | 6.1% | S100YK39 |

Goodwill over 4 years: 996 → 7,435 JPY; total investing cash flow: -99,802 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) | 22.0% |
| Cash ÷ revenue | 29.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 140.1% |
| Cash vs. profit gap | 9,207 JPY mn (of net income 57.9%) |
| Shareholder returns / net income | 49.2% |
| Shareholder returns / FCF | 170.5% |
| Shareholder payments — dividends / net income | 37.3% |
| Shareholder payments — dividends / FCF | 129.4% |
| CapEx intensity (capex ÷ revenue) | 12.6% |
| Investing CF relative to operating CF | 44.0% |

## 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 | 5.5% | 0.53× | 2.9% | 1.74× | 5.0% | S100R48Z |
| 2023 | 6.5% | 0.69× | 4.5% | 1.76× | 7.9% | S100TQPU |
| 2024 | 8.6% | 0.73× | 6.3% | 1.88× | 11.8% | S100W2R8 |
| 2025 | 11.9% | 0.73× | 8.6% | 1.91× | 16.5% | S100YK39 |
| 2026 | 9.8% | 0.76× | 7.4% | 1.82× | 13.4% | S100YK39 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 保志 忠郊 | Major shareholder | 12.1% | 2026-03-31 |
| 保志 治紀 | Major shareholder | 11.9% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱(信託口) | Major shareholder | 9.5% | 2026-03-31 |
| ㈱ホシ・クリエート | Major shareholder | 4.7% | 2026-03-31 |
| アサヒビール㈱ | Major shareholder | 3.5% | 2026-03-31 |
| ㈱日本カストディ銀行(信託口) | Major shareholder | 3.5% | 2026-03-31 |
| 三菱UFJ信託銀行㈱(常任代理人 日本マスタートラスト信託銀行㈱) | Major shareholder | 2.2% | 2026-03-31 |
| JPモルガン証券㈱ | Major shareholder | 1.5% | 2026-03-31 |
| 吉田 嘉明 | Major shareholder | 1.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103（常任代理人 ㈱みずほ銀行） | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第51期(2025/04/01－2026/03/31) | S100YK39 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YK39,, |
| 有価証券報告書－第50期(2024/04/01－2025/03/31) | S100W2R8 | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2R8,, |
| 有価証券報告書－第49期(2023/04/01－2024/03/31) | S100TQPU | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQPU,, |
| 有価証券報告書－第48期(2022/04/01－2023/03/31) | S100R48Z | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R48Z,, |
| 有価証券報告書－第47期(令和3年4月1日－令和4年3月31日) | S100OHBL | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHBL,, |
| 有価証券報告書－第46期(令和2年4月1日－令和3年3月31日) | S100LSKX | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSKX,, |

## 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).