# Ficha Inc.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第20期(2024/07/01－2025/06/30) (S100WQ82)
> Page: https://vizora.meequs.com/en/company/ficha
> Retrieved: 2026-09-30T22:22:23.702Z

## Company

Ficha, founded in 2005, is a company in Software & SaaS listed on TSE Growth. It has 31 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Ficha Inc. |
| Ticker | 4052 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4052.T) |
| Listing | TSE Growth |
| Head office | 東京都豊島区東池袋三丁目1番1号 |
| Representative (per filing) | 代表取締役社長CEO兼CTO 曹暉 |
| Founded | Aug 2005 |
| Share capital | ¥383.5M |
| Employees (consolidated) | 31 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | June |
| Website | ficha.jp (https://ficha.jp/) |
| Corporate number | 6030001049697 |
| EDINET | E35758 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100WQ82, filed 2025-09-30). As of filing

## Key points (generated from figures)

- Ficha brought in ¥497.6M in revenue.
- It lost about ¥2 for every ¥100 of sales at the operating level.
- Revenue changed +0.7% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥497.6M |  |
| Operating income | -¥9.4M | Margin -1.9% |
| Net income | -¥38.6M | Margin -7.8% |
| Free cash flow | ¥16.7M |  |
| Employees (consolidated) | 31 |  |
| EPS | ¥-5.4 |  |
| Book value per share | ¥117.16 |  |
| Equity ratio | 95.8% |  |
| Shares outstanding | 5,856,107 |  |
| Treasury shares | 8,500 |  |
| Shareholders | 2,861 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 82.5% | Cash ÷ revenue 119.4% |
| Vs. industry median margin | -14.3 pp | Software & SaaS |
| ROA | -5.2% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 83% of total assets

## What changed in 5 years

| Metric | FY ending Jun 2020 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥419701000 | ¥497614000 | +18.6% |
| Operating income | ¥98513000 | ¥-9374000 | -109.5% |
| Operating margin | 23.5% | -1.9% | -25.4 pp |
| Employees | 21 people | 31 people | +47.6% |
| Cash and equivalents | ¥419513000 | ¥594196000 | +41.6% |

### Change in segment revenue mix

Span: FY ending Jun 2020 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 498 | 100.0% | S100WQ82 |
| Cost of revenue | 180 | 36.2% | S100WQ82 |
| Gross profit | 317 | 63.8% | S100WQ82 |
| SG&A | 327 | 65.7% | S100WQ82 |
| Operating income | -9 | -1.9% | S100WQ82 |
| Ordinary income | -11 | -2.2% | S100WQ82 |
| Pretax income | -37 | -7.5% | S100WQ82 |
| Income tax | 1 | 0.2% | S100WQ82 |
| Net income | -39 | -7.8% | S100WQ82 |
| Net income attributable to owners | -39 | -7.8% | S100WQ82 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 36 |
| SG&A | 66 |
| Operating income | -2 |
| (Ref.) Net income | -8 |

### Margin funnel

Gross margin 63.8% → Operating margin -1.9% → Net margin -7.8%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 494 | 498 | 3 | +0.7% |
| Gross profit | 331 | 317 | -14 | -4.1% |
| Operating income | -4 | -9 | -6 | — |
| Net income attributable to owners | -8 | -39 | -31 | — |
| Operating cash flow | -19 | 22 | 41 | — |
| Free cash flow | -28 | 17 | 45 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2019 | 282 | -4 | -1.2% | -8 | -1 | -24 | S100JSSR |
| FY ending Jun 2020 | 420 | 99 | 23.5% | 67 | 36 | 18 | S100MIY7 |
| FY ending Jun 2021 | 260 | -64 | -24.8% | -62 | -6 | -12 | S100P9Y4 |
| FY ending Jun 2022 | 383 | 26 | 6.7% | 29 | 16 | 12 | S100RY4L |
| FY ending Jun 2023 | 390 | -23 | -5.9% | -29 | 1 | -18 | S100UGKF |
| FY ending Jun 2024 | 494 | -4 | -0.7% | -8 | -19 | -28 | S100WQ82 |
| FY ending Jun 2025 | 498 | -9 | -1.9% | -39 | 22 | 17 | S100WQ82 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16.1M |
| Operating income per employee (consolidated) | -¥302.4K |
| Net income per employee (consolidated) | -¥1.2M |

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

| History | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 25 | 22 | 26 | 32 | 31 |
| Average salary (parent company) | ¥5.3M | ¥5.2M | ¥5.4M | ¥5.7M | ¥6.2M |
| Average age (parent company) | 34.8 years | 35.8 years | 34.6 years | 34.7 years | 34.7 years |
| Average tenure (parent company) | 2.0 years | 2.6 years | 2.7 years | 2.9 years | 3.7 years |

Year over year: Employees (consolidated) -3.1% · Revenue (consolidated) +0.7%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 22 | 4.4% | S100WQ82 |
| Capital expenditure | 5 | 1.1% | S100WQ82 |
| Free cash flow | 17 | 3.4% | 算出 |
| Investing cash flow | -5 | -1.1% | S100WQ82 |
| Change in cash | 16 | 3.2% | S100WQ82 |
| Cash and equivalents | 594 | 119.4% | S100WQ82 |

## 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 Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 452 | 471 | 417 | 578 | 594 | S100RY4L, S100UGKF, S100WQ82 |
| Total assets | 545 | 599 | 591 | 768 | 720 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Net assets | 507 | 568 | 549 | 730 | 690 | S100RY4L, S100UGKF, S100WQ82 |
| Share capital | 270 | 285 | 290 | 384 | 384 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Property, plant and equipment | 16 | 11 | 24 | 21 | 0 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Intangible assets excluding goodwill | — | 2 | 2 | 1 | 0 | S100RY4L, S100UGKF, S100WQ82 |
| Current assets | 508 | 550 | 504 | 698 | 689 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Current liabilities | 38 | 31 | 43 | 38 | 30 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Total liabilities | 38 | 31 | 43 | 38 | 30 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Equity attributable to owners of parent | 506 | 565 | 546 | 725 | 686 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Retained earnings | -18 | 11 | -18 | -26 | -64 | S100P9Y4, S100RY4L, S100UGKF, S100WQ82 |
| Treasury stock | — | — | -0 | -0 | -0 | S100UGKF, S100WQ82 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 83% | S100WQ82 |
| Other assets | 17% | S100WQ82 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 4% | S100WQ82 |
| Equity | 96% | S100WQ82 |

### Balance sheet history

| Metric | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 545 | 599 | 591 | 768 | 720 |
| Equity | 507 | 568 | 549 | 730 | 690 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 452 | 471 | 417 | 578 | 594 |

## 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) | 0.0% | S100WQ82 |
| Fixed assets ÷ total assets | 0.0% | S100WQ82 |
| Goodwill ÷ parent equity | — | —, S100WQ82 |

### 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) | 82.5% |
| Cash ÷ revenue | 119.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 61 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.1% |
| Investing CF relative to operating CF | 24.1% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | — | —× | -11.4% | —× | — | S100P9Y4 |
| 2022 | 7.6% | 0.67× | 5.1% | 1.07× | 5.4% | S100RY4L |
| 2023 | — | —× | -4.8% | —× | — | S100UGKF |
| 2024 | — | —× | -1.2% | —× | — | S100WQ82 |
| 2025 | — | —× | -5.2% | —× | — | S100WQ82 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 曹 暉 | Major shareholder | 21.3% | 2025-06-30 |
| 王 潞 | Major shareholder | 15.4% | 2025-06-30 |
| 脇 健一郎 | Major shareholder | 10.4% | 2025-06-30 |
| ボッシュ株式会社 | Major shareholder | 10.1% | 2025-06-30 |
| ＨＵＩＺＨＯＵ ＤＥＳＡＹ ＳＶ ＡＵＴＯＭＯＴＩＶＥ ＣＯ．，ＬＴＤ． （常任代理人 ＳＭＢＣ日興証券株式会社） | Major shareholder | 9.0% | 2025-06-30 |
| 楽天証券株式会社 | Major shareholder | 1.8% | 2025-06-30 |
| 寺田 康雄 | Major shareholder | 0.7% | 2025-06-30 |
| ＪＰモルガン証券株式会社 | Major shareholder | 0.6% | 2025-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.6% | 2025-06-30 |
| 服部 徹也 | Major shareholder | 0.6% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第20期(2024/07/01－2025/06/30) | S100WQ82 | 2025-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQ82,, |
| 有価証券報告書－第19期(2023/07/01－2024/06/30) | S100UGKF | 2024-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UGKF,, |
| 有価証券報告書－第18期(2022/07/01－2023/06/30) | S100RY4L | 2023-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RY4L,, |
| 有価証券報告書－第17期(令和3年7月1日－令和4年6月30日) | S100P9Y4 | 2022-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P9Y4,, |
| 有価証券報告書－第16期(令和2年7月1日－令和3年6月30日) | S100MIY7 | 2021-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MIY7,, |
| 有価証券報告書－第15期(令和1年7月1日－令和2年6月30日) | S100JSSR | 2020-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JSSR,, |

## 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).