# e-Seikatsu 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27期(2025/04/01－2026/03/31) (S100YF6G)
> Page: https://vizora.meequs.com/en/company/e-seikatsu
> Retrieved: 2026-09-30T21:02:31.056Z

## Company

e-Seikatsu, founded in 2000, is a company in Software & SaaS listed on TSE Standard. It has 216 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | e-Seikatsu Co.,Ltd. |
| Ticker | 3796 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3796.T) |
| Listing | TSE Standard |
| Head office | 東京都港区南麻布五丁目2番32号 興和広尾ビル |
| Representative (per filing) | 代表取締役社長 CEO 前野 善一 |
| Founded | Jan 2000 |
| Share capital | ¥628.4M |
| Employees (consolidated) | 216 |
| Average salary (parent only) | ¥6.3M |
| Fiscal year end | March |
| Website | www.e-seikatsu.info (https://www.e-seikatsu.info/) |
| Corporate number | 9010401039891 |
| EDINET | E05551 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100YF6G, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 40.5 | 105 |
| Profitability | 32.8 | 145 |
| Cash conversion | 93.4 | 128 |
| Efficiency | 82.4 | 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)

- e-Seikatsu brought in ¥3.23B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +6.7% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥3232180000 → ¥151183000
- Net income → operating cash flow: ¥151183000 → ¥760154000（difference ¥608971000）
- Main uses of operating cash flow: CapEx ¥617904000 / dividends ¥34157000 / buybacks —
- Change in cash: ¥263053000
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 | ¥3.23B |  |
| Operating income | ¥229.5M | Margin 7.1% |
| Net income | ¥151.2M | Margin 4.7% |
| Free cash flow | ¥142.3M |  |
| Employees (consolidated) | 216 |  |
| EPS | ¥5.36 |  |
| Book value per share | ¥124.32 |  |
| Equity ratio | 74.5% |  |
| Shares outstanding | 7,280,700 |  |
| Treasury shares | 379,300 |  |
| Shareholders | 1,728 |  |
| Average salary (parent only) | ¥6.3M | Filing company only |
| Cash ratio | 22.8% | Cash ÷ revenue 18.8% |
| Vs. industry median margin | -5.3 pp | Software & SaaS |
| ROE | 7.8% | Derived from disclosed figures |
| ROA | 6.0% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 5.0× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2214549000 | ¥3232180000 | +46.0% |
| Operating income | ¥69409000 | ¥229453000 | +230.6% |
| Operating margin | 3.1% | 7.1% | +4 pp |
| Employees | 170 people | 216 people | +27.1% |
| Cash and equivalents | ¥529739000 | ¥608602000 | +14.9% |

### 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 | 3,232 | 100.0% | S100YF6G |
| Cost of revenue | 1,347 | 41.7% | S100YF6G |
| Gross profit | 1,885 | 58.3% | S100YF6G |
| SG&A | 1,656 | 51.2% | S100YF6G |
| Operating income | 229 | 7.1% | S100YF6G |
| Ordinary income | 237 | 7.3% | S100YF6G |
| Pretax income | 237 | 7.3% | S100YF6G |
| Income tax | 86 | 2.6% | S100YF6G |
| Net income | 151 | 4.7% | S100YF6G |
| Net income attributable to owners | 151 | 4.7% | S100YF6G |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 42 |
| SG&A | 51 |
| Operating income | 7 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 58.3% → Operating margin 7.1% → Net margin 4.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
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 | 3,028 | 3,232 | 204 | +6.7% |
| Gross profit | 1,597 | 1,885 | 288 | +18.0% |
| Operating income | -37 | 229 | 267 | — |
| Net income attributable to owners | -40 | 151 | 191 | — |
| Operating cash flow | 316 | 760 | 444 | +140.3% |
| Free cash flow | -359 | 142 | 501 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 2,124 | 123 | 5.8% | 73 | 524 | 62 | S100LKVD |
| FY ending Mar 2021 | 2,215 | 69 | 3.1% | 20 | 458 | 16 | S100OADX |
| FY ending Mar 2022 | 2,434 | 166 | 6.8% | 107 | 676 | 236 | S100QZ0B |
| FY ending Mar 2023 | 2,697 | 235 | 8.7% | 158 | 636 | 110 | S100TPFN |
| FY ending Mar 2024 | 2,808 | 176 | 6.3% | 146 | 618 | -36 | S100W1CR |
| FY ending Mar 2025 | 3,028 | -37 | -1.2% | -40 | 316 | -359 | S100YF6G |
| FY ending Mar 2026 | 3,232 | 229 | 7.1% | 151 | 760 | 142 | S100YF6G |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥15M |
| Operating income per employee (consolidated) | ¥1.1M |
| Net income per employee (consolidated) | ¥699.9K |

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) | 181 | 191 | 201 | 223 | 216 |
| Average salary (parent company) | ¥5.6M | ¥5.7M | ¥6.1M | ¥6.3M | ¥6.3M |
| Average age (parent company) | 34.5 years | 34.5 years | 35.4 years | 35.1 years | 35.6 years |
| Average tenure (parent company) | 6.9 years | 6.9 years | 7.2 years | 7.1 years | 7.8 years |

Year over year: Employees (consolidated) -3.1% · Revenue (consolidated) +6.7%

## 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 | 760 | 23.5% | S100YF6G |
| Capital expenditure | 618 | 19.1% | S100YF6G |
| Free cash flow | 142 | 4.4% | 算出 |
| Investing cash flow | -619 | -19.2% | S100YF6G |
| Financing cash flow | 120 | 3.7% | S100YF6G |
| Dividends paid | 34 | 1.1% | S100YF6G |
| Change in cash | 263 | 8.1% | S100YF6G |
| Cash and equivalents | 609 | 18.8% | S100YF6G |

## 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 | 732 | 807 | 739 | 346 | 609 | S100TPFN, S100W1CR, S100YF6G |
| Total assets | 2,188 | 2,357 | 2,541 | 2,350 | 2,670 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Net assets | 1,711 | 1,835 | 1,947 | 1,873 | 1,989 | S100TPFN, S100W1CR, S100YF6G |
| Share capital | 628 | 628 | 628 | 628 | 628 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Property, plant and equipment | 45 | 41 | 38 | 55 | 47 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Intangible assets excluding goodwill | 1,163 | 1,213 | 1,389 | 1,520 | 1,585 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Current assets | 833 | 928 | 938 | 594 | 860 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Current liabilities | 473 | 519 | 591 | 474 | 592 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Long-term borrowings | — | — | — | — | 86 | S100YF6G |
| Total liabilities | 476 | 522 | 594 | 477 | 680 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Equity attributable to owners of parent | 1,711 | 1,835 | 1,947 | 1,873 | 1,989 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Retained earnings | 503 | 627 | 739 | 665 | 781 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |
| Treasury stock | -139 | -139 | -139 | -139 | -139 | S100QZ0B, S100TPFN, S100W1CR, S100YF6G |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 23% | S100YF6G |
| Property, plant and equipment | 2% | S100YF6G |
| Intangibles and goodwill | 59% | S100YF6G |
| Other assets | 16% | S100YF6G |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100YF6G |
| Equity | 75% | S100YF6G |
| Other liabilities | 0% | S100YF6G |

### 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 | 2,188 | 2,357 | 2,541 | 2,350 | 2,670 |
| Equity | 1,711 | 1,835 | 1,947 | 1,873 | 1,989 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 732 | 807 | 739 | 346 | 609 |

## 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) | 1.5% | S100YF6G |
| Fixed assets ÷ total assets | 1.8% | S100YF6G |
| Goodwill ÷ parent equity | — | —, S100YF6G |

### 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) | 22.8% |
| Cash ÷ revenue | 18.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 331.3% |
| Cash vs. profit gap | 609 JPY mn (of net income 402.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 22.6% |
| Shareholder payments — dividends / FCF | 24.0% |
| CapEx intensity (capex ÷ revenue) | 19.1% |
| Investing CF relative to operating CF | 81.5% |

## 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 | 4.4% | 1.11× | 4.9% | 1.28× | 6.2% | S100QZ0B |
| 2023 | 5.9% | 1.19× | 7.0% | 1.28× | 8.9% | S100TPFN |
| 2024 | 5.2% | 1.15× | 6.0% | 1.30× | 7.7% | S100W1CR |
| 2025 | — | —× | -1.6% | —× | — | S100YF6G |
| 2026 | 4.7% | 1.29× | 6.0% | 1.30× | 7.8% | S100YF6G |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 前 野 善 一 | Major shareholder | 14.9% | 2026-03-31 |
| 北 澤 弘 貴 | Major shareholder | 13.9% | 2026-03-31 |
| 塩 川 拓 行 | Major shareholder | 13.1% | 2026-03-31 |
| 中 村 清 高 | Major shareholder | 12.8% | 2026-03-31 |
| いい生活従業員持株会 | Major shareholder | 8.0% | 2026-03-31 |
| 光通信Ｋ Ｋ 投資事業有限責任組合 無限責任組合員光通信株式会社 | Major shareholder | 5.5% | 2026-03-31 |
| 兼 英 樹 | Major shareholder | 1.5% | 2026-03-31 |
| 光通信株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.0% | 2026-03-31 |
| 松 崎 明 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第27期(2025/04/01－2026/03/31) | S100YF6G | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF6G,, |
| 有価証券報告書－第26期(2024/04/01－2025/03/31) | S100W1CR | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1CR,, |
| 有価証券報告書－第25期(2023/04/01－2024/03/31) | S100TPFN | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPFN,, |
| 有価証券報告書－第24期(2022/04/01－2023/03/31) | S100QZ0B | 2023-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZ0B,, |
| 有価証券報告書－第23期(令和3年4月1日－令和4年3月31日) | S100OADX | 2022-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OADX,, |
| 有価証券報告書－第22期(令和2年4月1日－令和3年3月31日) | S100LKVD | 2021-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LKVD,, |

## 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).