# EDION Corporation: 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25期(2025/04/01－2026/03/31) (S100YDWB)
> Page: https://vizora.meequs.com/en/company/edion
> Retrieved: 2026-09-30T19:09:22.407Z

## Company

Edion, founded in 2002, is a company in Electronics Retailers listed on TSE Prime. It has 9,148 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | EDION Corporation |
| Ticker | 2730 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2730.T) |
| Listing | TSE Prime |
| Head office | 広島市中区紙屋町二丁目1番18号 (同所は登記上の本店所在地で実際の業務は「最寄りの連絡場所」で行っております。) |
| Representative (per filing) | 代表取締役会長執行役員CEO 久保 允誉 |
| Founded | Mar 2002 |
| Share capital | ¥11.9B |
| Employees (consolidated) | 9,148 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.edion.co.jp (https://www.edion.co.jp/) |
| Corporate number | 3240001041231 |
| EDINET | E03399 |
| Industries (Vizora) | Electronics Retailers |

> Profile source: annual securities report (S100YDWB, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Electronics Retailers (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 57.7 | 13 |
| Profitability | 46.4 | 14 |
| Cash conversion | 60.7 | 14 |
| Efficiency | 67.9 | 14 |

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)

- Edion brought in ¥793.7B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +3.3% from the prior year, operating profit +10.2%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥793746000000 → ¥15552000000
- Net income → operating cash flow: ¥15552000000 → ¥30834000000（difference ¥15282000000）
- Main uses of operating cash flow: CapEx ¥12711000000 / dividends ¥4581000000 / buybacks ¥2857000000
- Change in cash: ¥123000000
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 | ¥793.7B |  |
| Operating income | ¥25.8B | Margin 3.2% |
| Net income | ¥15.5B | Margin 1.9% |
| Free cash flow | ¥18.1B |  |
| Employees (consolidated) | 9,148 |  |
| EPS | ¥217.74 |  |
| Diluted EPS | ¥217.14 |  |
| Book value per share | ¥2171.28 |  |
| Equity ratio | 54.1% |  |
| Shares outstanding | 112,005,000 |  |
| Treasury shares | 6,265,900 |  |
| Shareholders | 187,505 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 2.1% | Cash ÷ revenue 1.1% |
| Vs. industry median margin | -0.1 pp | Electronics Retailers |
| ROE | 6.7% | Derived from disclosed figures |
| ROA | 3.6% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 2% of total assets
- FY2026, employees -2% while operating income rose 10%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥768113000000 | ¥793746000000 | +3.3% |
| Operating income | ¥26785000000 | ¥25782000000 | -3.7% |
| Operating margin | 3.5% | 3.2% | -0.2 pp |
| Employees | 9,007 people | 9,148 people | +1.6% |
| Cash and equivalents | ¥43072000000 | ¥8958000000 | -79.2% |

### 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 | 793,746 | 100.0% | S100YDWB |
| Cost of revenue | 566,126 | 71.3% | S100YDWB |
| Gross profit | 227,619 | 28.7% | S100YDWB |
| SG&A | 201,836 | 25.4% | S100YDWB |
| Operating income | 25,782 | 3.2% | S100YDWB |
| Ordinary income | 26,640 | 3.4% | S100YDWB |
| Pretax income | 22,790 | 2.9% | S100YDWB |
| Income tax | 7,238 | 0.9% | S100YDWB |
| Net income | 15,552 | 2.0% | S100YDWB |
| Net income attributable to owners | 15,453 | 1.9% | S100YDWB |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 26 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 28.7% → Operating margin 3.2% → Net margin 1.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.3%; Core profit growth: +10.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.06×
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 | 768,129 | 793,746 | 25,617 | +3.3% |
| Gross profit | 222,866 | 227,619 | 4,753 | +2.1% |
| Operating income | 23,394 | 25,782 | 2,388 | +10.2% |
| Net income attributable to owners | 14,118 | 15,453 | 1,335 | +9.5% |
| Operating cash flow | 30,711 | 30,834 | 123 | +0.4% |
| Free cash flow | 19,550 | 18,123 | -1,427 | -7.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 733,575 | 12,284 | 1.7% | 10,977 | 25,278 | 14,940 | S100LMYN |
| FY ending Mar 2021 | 768,113 | 26,785 | 3.5% | 16,633 | 42,964 | 35,306 | S100OG4R |
| FY ending Mar 2022 | 713,768 | 18,796 | 2.6% | 13,109 | 10,576 | 1,194 | S100RA65 |
| FY ending Mar 2023 | 720,584 | 19,186 | 2.7% | 11,393 | 12,139 | 4,471 | S100TV2J |
| FY ending Mar 2024 | 721,085 | 16,929 | 2.3% | 9,021 | 19,962 | -49,454 | S100XN6U |
| FY ending Mar 2025 | 768,129 | 23,394 | 3.0% | 14,118 | 30,711 | 19,550 | S100YDWB |
| FY ending Mar 2026 | 793,746 | 25,782 | 3.2% | 15,453 | 30,834 | 18,123 | S100YDWB |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥86.8M |
| Operating income per employee (consolidated) | ¥2.8M |
| Net income per employee (consolidated) | ¥1.7M |

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) | 9,158 | 9,258 | 9,170 | 9,315 | 9,148 |
| Average salary (parent company) | ¥5.2M | ¥5M | ¥5.1M | ¥5.3M | ¥5.4M |
| Average age (parent company) | 41.0 years | 42.0 years | 42.0 years | 43.0 years | 43.0 years |
| Average tenure (parent company) | 16.0 years | 17.0 years | 18.0 years | 18.0 years | 18.0 years |

Year over year: Employees (consolidated) -1.8% · Revenue (consolidated) +3.3%

## 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 | 30,834 | 3.9% | S100YDWB |
| Capital expenditure | 12,711 | 1.6% | S100YDWB |
| Free cash flow | 18,123 | 2.3% | 算出 |
| Investing cash flow | -15,101 | -1.9% | S100YDWB |
| Financing cash flow | -15,606 | -2.0% | S100YDWB |
| Dividends paid | 4,581 | 0.6% | S100YDWB |
| Share buyback | 2,857 | 0.4% | S100YDWB |
| Change in cash | 123 | 0.0% | S100YDWB |
| Cash and equivalents | 8,958 | 1.1% | S100YDWB |

## 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 | 29,885 | 13,235 | 12,011 | 8,834 | 8,958 | S100TV2J, S100XN6U, S100YDWB |
| Total assets | 377,970 | 369,365 | 431,694 | 434,830 | 433,550 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Net assets | 199,480 | 201,656 | 214,921 | 222,946 | 234,957 | S100TV2J, S100XN6U, S100YDWB |
| Share capital | 11,940 | 11,940 | 11,940 | 11,940 | 11,940 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Property, plant and equipment | 125,504 | 122,126 | 177,824 | 175,690 | 173,147 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Intangible assets excluding goodwill | 10,169 | 9,746 | 10,948 | 11,934 | 11,164 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Goodwill | 2,454 | 1,620 | 1,845 | 2,710 | 2,184 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Investment securities | 3,668 | 4,019 | 4,925 | 5,401 | 6,574 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Current assets | 190,597 | 185,739 | 189,766 | 191,173 | 189,162 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Current liabilities | 109,003 | 107,841 | 149,458 | 144,220 | 128,534 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Trade payables | 48,346 | 42,764 | 43,136 | 41,525 | 39,264 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Short-term borrowings | 160 | 60 | 38,591 | 31,255 | 13,199 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Long-term borrowings | 26,852 | 15,859 | 31,243 | 40,667 | 44,209 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Total liabilities | 178,489 | 167,708 | 216,773 | 211,884 | 198,593 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Non-controlling interests | — | — | 314 | 427 | 525 | S100XN6U, S100YDWB |
| Equity attributable to owners of parent | 204,993 | 206,993 | 218,666 | 224,870 | 235,117 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Retained earnings | 118,175 | 125,077 | 129,363 | 138,602 | 149,087 | S100RA65, S100TV2J, S100XN6U, S100YDWB |
| Treasury stock | -10,069 | -14,992 | -7,657 | -10,126 | -9,522 | S100RA65, S100TV2J, S100XN6U, S100YDWB |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 2% | S100YDWB |
| Property, plant and equipment | 40% | S100YDWB |
| Intangibles and goodwill | 3% | S100YDWB |
| Investment securities | 2% | S100YDWB |
| Other assets | 53% | S100YDWB |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 9% | S100YDWB |
| Other liabilities | 37% | S100YDWB |
| Equity | 54% | S100YDWB |

### 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 | 377,970 | 369,365 | 431,694 | 434,830 | 433,550 |
| Equity | 199,480 | 201,656 | 214,921 | 222,946 | 234,957 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 29,885 | 13,235 | 12,011 | 8,834 | 8,958 |

## 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) | 21.8% | S100YDWB |
| Fixed assets ÷ total assets | 39.9% | S100YDWB |
| Goodwill ÷ parent equity | 0.9% | S100YDWB |

Goodwill over 4 years: 2,454 → 2,184 JPY; total investing cash flow: -118,102 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) | 2.1% |
| Cash ÷ revenue | 1.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 119.6% |
| Cash vs. profit gap | 15,381 JPY mn (of net income 99.5%) |
| Shareholder returns / net income | 48.1% |
| Shareholder returns / FCF | 41.0% |
| Shareholder payments — dividends / net income | 29.6% |
| Shareholder payments — dividends / FCF | 25.3% |
| CapEx intensity (capex ÷ revenue) | 1.6% |
| Investing CF relative to operating CF | 49.0% |

## 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 | 1.8% | 1.89× | 3.5% | 1.84× | 6.4% | S100RA65 |
| 2023 | 1.6% | 1.93× | 3.0% | 1.81× | 5.5% | S100TV2J |
| 2024 | 1.3% | 1.80× | 2.3% | 1.88× | 4.2% | S100XN6U |
| 2025 | 1.8% | 1.77× | 3.3% | 1.95× | 6.4% | S100YDWB |
| 2026 | 1.9% | 1.83× | 3.6% | 1.89× | 6.7% | S100YDWB |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ニトリホールディングス | Major shareholder | 9.7% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 8.0% | 2026-03-31 |
| エディオングループ社員持株会 | Major shareholder | 6.9% | 2026-03-31 |
| 株式会社ダイイチ | Major shareholder | 3.3% | 2026-03-31 |
| 久保 允誉 | 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 | 1.7% | 2026-03-31 |
| エディオングループ取引先持株会 | Major shareholder | 1.6% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.5% | 2026-03-31 |
| 株式会社広島銀行 | Major shareholder | 1.5% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５００１ （常任代理人 株式会社みずほ銀行） | Major shareholder | 1.3% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for FY ending Mar 2026 was ¥793.7B, up +3.3% from ¥768.1B.
- Profit grew faster than sales: operating income rose +10.2% to ¥25.8B and net income rose +9.5% to ¥15.5B.
- Free cash flow went the other way, slipping -7.3% from ¥19.6B to ¥18.1B.

### Drivers

- The end of Windows support drove a replacement wave, and PC unit sales hit a record level.
- New phone models and steady upgrade demand lifted mobile phone unit sales sharply.
- New game consoles and popular titles pushed game and toy sales well above the prior year.

### Risks

- Sales of seasonal items like air conditioners depend on the weather, such as a cool summer or mild winter.
- Many rival stores sell the same products in its areas, and new openings could sharpen competition.
- Weaker store profitability leads to impairment losses, which the company booked again this year.

Cited: Annual Securities Report, 25th fiscal period (Apr 2025 – Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 25th fiscal period (Apr 2025 – Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第25期(2025/04/01－2026/03/31) | S100YDWB | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDWB,, |
| 訂正有価証券報告書－第24期(2024/04/01－2025/03/31) | S100XN6U | 2026-02-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XN6U,, |
| 有価証券報告書－第23期(2023/04/01－2024/03/31) | S100TV2J | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TV2J,, |
| 有価証券報告書－第22期(2022/04/01－2023/03/31) | S100RA65 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RA65,, |
| 有価証券報告書－第21期(令和3年4月1日－令和4年3月31日) | S100OG4R | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OG4R,, |
| 有価証券報告書－第20期(令和2年4月1日－令和3年3月31日) | S100LMYN | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMYN,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| ヤマダホールディングス | Alliance | 対等統合を基本方針とする経営統合の協議・検討に関する基本合意書を締結 | S100YJWD |

## 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).