for Startupsfor Startups, Inc.7089東証グロースサービス業FY ending Mar 2026, consolidated, J-GAAP

for Startups revenue and profit

Out of every ¥100 of sales, about ¥21 is left as operating profit. Revenue changed +42.6% from the prior year, operating profit +147.3%.

Five-year trend

Revenue¥5.27B
FY ending Mar 2022: ¥2.35B¥2.35BFY ending Mar 2023: ¥3B¥3BFY ending Mar 2024: ¥3.42B¥3.42BFY ending Mar 2025: ¥3.69B¥3.69BFY ending Mar 2026: ¥5.27B¥5.27BFY22FY23FY24FY25FY26
Operating income¥1.12B
FY ending Mar 2022: ¥488.5M¥488.5MFY ending Mar 2023: ¥585.3M¥585.3MFY ending Mar 2024: ¥423.5M¥423.5MFY ending Mar 2025: ¥453M¥453MFY ending Mar 2026: ¥1.12B¥1.12BFY22FY23FY24FY25FY26
Operating margin21.3%
FY ending Mar 2022: 20.8%20.8%FY ending Mar 2023: 19.5%19.5%FY ending Mar 2024: 12.4%12.4%FY ending Mar 2025: 12.3%12.3%FY ending Mar 2026: 21.3%21.3%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin15.5%
Asset turnover1.22×
ROA18.9%
ROA18.9%
Financial leverage1.76×
ROE33.2%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin15.5%
2022: 16.3%16.3%2023: 14.8%14.8%2024: 11.3%11.3%2025: 9.6%9.6%2026: 15.5%15.5%2223242526
Asset turnover1.22×
2022: 0.91×0.91×2023: 1.08×1.08×2024: 1.10×1.10×2025: 1.07×1.07×2026: 1.22×1.22×2223242526
ROA18.9%
2022: 14.9%14.9%2023: 16.0%16.0%2024: 12.4%12.4%2025: 10.2%10.2%2026: 18.9%18.9%2223242526
Financial leverage1.76×
2022: 1.95×1.95×2023: 1.80×1.80×2024: 1.58×1.58×2025: 1.59×1.59×2026: 1.76×1.76×2223242526
ROE33.2%
2022: 29.0%29.0%2023: 28.7%28.7%2024: 19.6%19.6%2025: 16.3%16.3%2026: 33.2%33.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202216.3%0.91×14.9%1.95×29.0%
202314.8%1.08×16.0%1.80×28.7%
202411.3%1.10×12.4%1.58×19.6%
20259.6%1.07×10.2%1.59×16.3%
202615.5%1.22×18.9%1.76×33.2%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue5.8%
2022: 5.8%5.8%2023: 4.1%4.1%2024: 2.0%2.0%2025: 9.4%9.4%2026: 5.8%5.8%2223242526
PPE ÷ total assets6.2%
2022: 5.3%5.3%2023: 4.2%4.2%2024: 2.1%2.1%2025: 9.5%9.5%2026: 6.2%6.2%2223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue2,3492,9993,4163,6945,269
Cost of revenue4745416936071,066
Gross profit1,8752,4582,7233,0864,202
SG&A1,3861,8722,3002,6333,082
Operating income4895854234531,120
Pretax income4925873974411,055
Income tax120170147112338
Net income attributable to owners383442386354817
Operating margin20.8%19.5%12.4%12.3%21.3%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 44%
6%
Investment securities 11%
Other assets 39%

Funding

Other liabilities 36%
Equity 64%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥1.72B¥1.75B¥1.66B¥1.91B¥2.16B
Total assets¥2.57B¥2.97B¥3.24B¥3.67B¥4.96B
Net assets¥1.49B¥2.19B¥2.55B¥2.48B¥3.15B
Share capital¥224.3M¥226.4M¥238.3M¥238.4M¥239.5M
Property, plant and equipment¥136M¥123.3M¥68M¥348.5M¥306.8M
Intangible assets excluding goodwill¥2.9M¥68K¥13K——
Investment securities¥56.1M¥68.3M¥61.9M¥89.3M¥567M
Current assets¥2.17B¥2.57B¥2.58B¥2.81B¥3.62B
Current liabilities¥1.02B¥779.3M¥696.2M¥788.3M¥1.52B
Long-term borrowings¥66.7M——¥399M¥285M
Total liabilities¥1.08B¥779.3M¥696.2M¥1.19B¥1.81B
Non-controlling interests¥165.5M¥405.4M¥338.1M¥313.3M¥399.8M
Equity attributable to owners of parent¥1.32B¥1.76B¥2.17B¥2.16B¥2.75B
Retained earnings¥869.4M¥1.31B¥1.7B¥2.05B¥2.47B
Treasury stock-¥286K-¥540K-¥540K-¥364.2M-¥200.1M

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第10期(2025/04/01-2026/03/31)

    ID S100YIA42026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第9期(2024/04/01-2025/03/31)

    ID S100W2652025-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第8期(2023/04/01-2024/03/31)

    ID S100TR502024-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第7期(2022/04/01-2023/03/31)

    ID S100QZ7A2023-06-19Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第6期(2021/04/01-2022/03/31)

    ID S100Q8MR2023-02-14Open
  • EDINET (FSA Japan)

    有価証券報告書-第5期(令和2年4月1日-令和3年3月31日)

    ID S100LKIF2021-06-18Open

Extracted from XBRL: 47 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.