# Fast Accounting Co.,Ltd.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第10期(2025/01/01－2025/12/31) (S100XUQ2)
> Page: https://vizora.meequs.com/en/company/fast-accounting
> Retrieved: 2026-09-30T20:59:20.825Z

## Company

Fast Accounting, founded in 2016, is a company in Software & SaaS listed on TSE Growth. It has 74 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Fast Accounting Co.,Ltd. |
| Ticker | 5588 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5588.T) |
| Listing | TSE Growth |
| Head office | 東京都港区芝公園二丁目4番1号 |
| Representative (per filing) | 代表取締役社長 森 啓太郎 |
| Founded | Jun 2016 |
| Share capital | ¥420.3M |
| Employees (consolidated) | 74 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | December |
| Website | www.fastaccounting.jp (https://www.fastaccounting.jp/) |
| Corporate number | 7010401125256 |
| EDINET | E38948 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100XUQ2, filed 2026-03-27). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 47.9 | 145 |
| Cash conversion | 63.7 | 128 |
| Efficiency | 40.3 | 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)

- Fast Accounting brought in ¥2.37B in revenue.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +38.8% from the prior year, operating profit +60.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥2369766000 → ¥202143000
- Net income → operating cash flow: ¥202143000 → ¥349348000（difference ¥147205000）
- Main uses of operating cash flow: CapEx ¥266091000 / dividends ¥13044000 / buybacks ¥113000
- Change in cash: ¥166111000
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 | ¥2.37B |  |
| Operating income | ¥292.2M | Margin 12.3% |
| Net income | ¥202.1M | Margin 8.5% |
| Free cash flow | ¥83.3M |  |
| Employees (consolidated) | 74 |  |
| EPS | ¥18.38 |  |
| Diluted EPS | ¥17.36 |  |
| Book value per share | ¥147.94 |  |
| Equity ratio | 57.3% |  |
| Shares outstanding | 11,216,120 |  |
| Treasury shares | 100 |  |
| Shareholders | 2,510 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |
| Cash ratio | 61.0% | Cash ÷ revenue 74.7% |
| Vs. industry median margin | -0.1 pp | Software & SaaS |
| ROE | 12.2% | Derived from disclosed figures |
| ROA | 7.0% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 61% of total assets

## What changed in 3 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Dec 2022 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥785533000 | ¥2369766000 | — |
| Operating income | ¥-82273000 | ¥292175000 | — |
| Operating margin | -10.5% | 12.3% | +22.8 pp |
| Employees | 31 people | 74 people | — |
| Cash and equivalents | ¥603792000 | ¥1769361000 | — |

### Change in segment revenue mix

Span: FY ending Dec 2022 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,370 | 100.0% | S100XUQ2 |
| Cost of revenue | 653 | 27.6% | S100XUQ2 |
| Gross profit | 1,717 | 72.4% | S100XUQ2 |
| SG&A | 1,425 | 60.1% | S100XUQ2 |
| Operating income | 292 | 12.3% | S100XUQ2 |
| Ordinary income | 292 | 12.3% | S100XUQ2 |
| Pretax income | 292 | 12.3% | S100XUQ2 |
| Income tax | 89 | 3.8% | S100XUQ2 |
| Net income | 202 | 8.5% | S100XUQ2 |
| Net income attributable to owners | 202 | 8.5% | S100XUQ2 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 28 |
| SG&A | 60 |
| Operating income | 12 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 72.4% → Operating margin 12.3% → Net margin 8.5%
Derived from reported figures (DERIVED).

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,707 | 2,370 | 663 | +38.8% |
| Gross profit | 1,200 | 1,717 | 516 | +43.0% |
| Operating income | 182 | 292 | 110 | +60.8% |
| Operating cash flow | 530 | 349 | -181 | -34.1% |
| Free cash flow | 306 | 83 | -222 | -72.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2022 | 786 | -82 | -10.5% | -78 | 160 | 113 | S100T5WH |
| FY ending Dec 2023 | 1,232 | 126 | 10.3% | 126 | 293 | 130 | S100VIJQ |
| FY ending Dec 2024 | 1,707 | 182 | 10.6% | 465 | 530 | 306 | S100VIJQ |
| FY ending Dec 2025 | 2,370 | 292 | 12.3% | 202 | 349 | 83 | S100XUQ2 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥32M |
| Operating income per employee (consolidated) | ¥3.9M |
| Net income per employee (consolidated) | ¥2.7M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 31 | 50 | 71 | 74 |
| Average salary (parent company) | — | ¥5.3M | ¥6.6M | ¥6.8M |
| Average age (parent company) | — | 36.9 years | 38.4 years | 38.8 years |
| Average tenure (parent company) | — | 2.8 years | 3.0 years | 3.6 years |

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 349 | 14.7% | S100XUQ2 |
| Capital expenditure | 266 | 11.2% | S100XUQ2 |
| Free cash flow | 83 | 3.5% | 算出 |
| Investing cash flow | -266 | -11.2% | S100XUQ2 |
| Financing cash flow | 79 | 3.3% | S100XUQ2 |
| Dividends paid | 13 | 0.6% | S100XUQ2 |
| Share buyback | 0 | 0.0% | S100XUQ2 |
| Change in cash | 166 | 7.0% | S100XUQ2 |
| Cash and equivalents | 1,769 | 74.7% | S100XUQ2 |

## 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 Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 604 | 1,302 | 1,603 | 1,769 | S100VIJQ, S100XUQ2 |
| Total assets | 744 | 1,619 | 2,434 | 2,899 | S100T5WH, S100VIJQ, S100XUQ2 |
| Net assets | 169 | 883 | 1,392 | 1,715 | S100VIJQ, S100XUQ2 |
| Share capital | 60 | 354 | 380 | 420 | S100T5WH, S100VIJQ, S100XUQ2 |
| Property, plant and equipment | 23 | 129 | 258 | 353 | S100T5WH, S100VIJQ, S100XUQ2 |
| Intangible assets excluding goodwill | 50 | 67 | 82 | 83 | S100T5WH, S100VIJQ, S100XUQ2 |
| Current assets | 658 | 1,379 | 1,720 | 2,130 | S100T5WH, S100VIJQ, S100XUQ2 |
| Current liabilities | 544 | 715 | 1,003 | 1,145 | S100T5WH, S100VIJQ, S100XUQ2 |
| Long-term borrowings | 28 | 18 | — | — | S100T5WH, S100VIJQ |
| Total liabilities | 575 | 736 | 1,042 | 1,185 | S100T5WH, S100VIJQ, S100XUQ2 |
| Equity attributable to owners of parent | 166 | 880 | 1,390 | 1,658 | S100T5WH, S100VIJQ, S100XUQ2 |
| Retained earnings | -78 | 126 | 583 | 772 | S100T5WH, S100VIJQ, S100XUQ2 |
| Treasury stock | — | -0 | -0 | -0 | S100VIJQ, S100XUQ2 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 61% | S100XUQ2 |
| Property, plant and equipment | 12% | S100XUQ2 |
| Intangibles and goodwill | 3% | S100XUQ2 |
| Other assets | 24% | S100XUQ2 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 41% | S100XUQ2 |
| Equity | 59% | S100XUQ2 |

### Balance sheet history

| Metric | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: |
| Total assets | 744 | 1,619 | 2,434 | 2,899 |
| Equity | 169 | 883 | 1,392 | 1,715 |
| Interest-bearing debt | — | — | — | — |
| Cash | 604 | 1,302 | 1,603 | 1,769 |

## 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) | 14.9% | S100XUQ2 |
| Fixed assets ÷ total assets | 12.2% | S100XUQ2 |
| Goodwill ÷ parent equity | — | —, S100XUQ2 |

### 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) | 61.0% |
| Cash ÷ revenue | 74.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 119.6% |
| Cash vs. profit gap | 147 JPY mn (of net income 72.8%) |
| Shareholder returns / net income | 6.5% |
| Shareholder returns / FCF | 15.8% |
| Shareholder payments — dividends / net income | 6.5% |
| Shareholder payments — dividends / FCF | 15.7% |
| CapEx intensity (capex ÷ revenue) | 11.2% |
| Investing CF relative to operating CF | 76.2% |

## 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 | — | —× | -10.5% | —× | — | S100T5WH |
| 2023 | 10.2% | 1.04× | 10.6% | 2.26× | 24.0% | S100VIJQ |
| 2024 | 27.3% | 0.84× | 23.0% | 1.79× | 41.0% | S100VIJQ |
| 2025 | 8.5% | 0.82× | 7.0% | 1.75× | 12.2% | S100XUQ2 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 森 啓太郎 | Major shareholder | 23.1% | 2025-12-31 |
| MoriSpaceManagement株式会社 | Major shareholder | 21.4% | 2025-12-31 |
| ＩＮＴＥＲＡＣＴＩＶＥ ＢＲＯＫＥＲＳ ＬＬＣ （常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 8.1% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.5% | 2025-12-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 4.5% | 2025-12-31 |
| 株式会社マイナビ | Major shareholder | 4.5% | 2025-12-31 |
| DAIWA CM SINGAPORE LTD-NOMINEE ALL STAR SAAS FUND PTE.LTD. （常任代理人 大和証券株式会社） | Major shareholder | 3.7% | 2025-12-31 |
| 中薗 直幸 | Major shareholder | 1.3% | 2025-12-31 |
| 葛 鴻鵬 | Major shareholder | 1.1% | 2025-12-31 |
| 株式会社オービックビジネスコンサルタント | Major shareholder | 0.8% | 2025-12-31 |
| 株式会社ミロク情報サービス | Major shareholder | 0.8% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第10期(2025/01/01－2025/12/31) | S100XUQ2 | 2026-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XUQ2,, |
| 有価証券報告書－第9期(2024/01/01－2024/12/31) | S100VIJQ | 2025-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VIJQ,, |
| 有価証券報告書－第8期(2023/01/01－2023/12/31) | S100T5WH | 2024-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T5WH,, |

## 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).