# FRUTA FRUTA INC.: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第24期(2025/04/01－2026/03/31) (S100YKRG)
> Page: https://vizora.meequs.com/en/company/fruta-fruta
> Retrieved: 2026-09-30T23:06:43.151Z

## Company

Fruta Fruta, founded in 2002, is a company in Processed Foods listed on TSE Growth. It has 33 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | FRUTA FRUTA INC. |
| Ticker | 2586 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2586.T) |
| Listing | TSE Growth |
| Head office | 東京都千代田区九段北三丁目2番28号 |
| Representative (per filing) | 代表取締役社長執行役員CEO 長澤 誠 |
| Founded | Nov 2002 |
| Share capital | ¥3.91B |
| Employees (consolidated) | 33 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | March |
| Website | www.frutafruta.com (https://www.frutafruta.com/) |
| Corporate number | 4010001094581 |
| EDINET | E31035 |
| Industries (Vizora) | Processed Foods |

> Profile source: annual securities report (S100YKRG, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Processed Foods (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 99.1 | 56 |
| Profitability | 40.8 | 60 |
| Cash conversion | 0.9 | 57 |
| Efficiency | 7.5 | 60 |

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)

- Fruta Fruta brought in ¥3.14B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +23.3% from the prior year, operating profit -58.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥3.14B |  |
| Operating income | ¥94.5M | Margin 3.0% |
| Net income | ¥83.1M | Margin 2.6% |
| Free cash flow | -¥1.24B |  |
| Employees (consolidated) | 33 |  |
| EPS | ¥0.92 |  |
| Diluted EPS | ¥0.79 |  |
| Book value per share | ¥66.52 |  |
| Equity ratio | 91.9% |  |
| Shares outstanding | 106,394,569 |  |
| Shareholders | 42,098 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 61.3% | Cash ÷ revenue 150.1% |
| Vs. industry median margin | -1 pp | Processed Foods |
| ROE | 1.7% | Derived from disclosed figures |
| ROA | 1.5% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 4.0× its level five years ago
- FY2026, cash is 61% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥692354000 | ¥3142522000 | +353.9% |
| Operating income | ¥-249260000 | ¥94467000 | — |
| Operating margin | -36.0% | 3.0% | +39 pp |
| Employees | 19 people | 33 people | +73.7% |
| Cash and equivalents | ¥713627000 | ¥4716262000 | +560.9% |

### 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, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,143 | 100.0% | S100YKRG |
| Cost of revenue | 1,854 | 59.0% | S100YKRG |
| Gross profit | 1,288 | 41.0% | S100YKRG |
| SG&A | 1,194 | 38.0% | S100YKRG |
| Operating income | 94 | 3.0% | S100YKRG |
| Ordinary income | 126 | 4.0% | S100YKRG |
| Pretax income | 126 | 4.0% | S100YKRG |
| Income tax | 43 | 1.4% | S100YKRG |
| Net income | 83 | 2.6% | S100YKRG |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 59 |
| SG&A | 38 |
| Operating income | 3 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 41.0% → Operating margin 3.0% → Net margin 2.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +23.3%; Core profit growth: -58.9%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -2.53×
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 | 2,549 | 3,143 | 593 | +23.3% |
| Gross profit | 960 | 1,288 | 328 | +34.2% |
| Operating income | 230 | 94 | -135 | -58.9% |
| Operating cash flow | -437 | -1,235 | -798 | — |
| Free cash flow | -439 | -1,239 | -800 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 938 | -407 | -43.3% | -441 | -152 | — | S100LUVS |
| FY ending Mar 2021 | 692 | -249 | -36.0% | -287 | -204 | -210 | S100OJT9 |
| FY ending Mar 2022 | 780 | -331 | -42.4% | -322 | -361 | — | S100TC35 |
| FY ending Mar 2023 | 805 | -312 | -38.8% | -308 | -311 | — | S100TWFX |
| FY ending Mar 2024 | 1,137 | -263 | -23.1% | -306 | -249 | — | S100WBBT |
| FY ending Mar 2025 | 2,549 | 230 | 9.0% | 271 | -437 | -439 | S100YKRG |
| FY ending Mar 2026 | 3,143 | 94 | 3.0% | 83 | -1,235 | -1,239 | S100YKRG |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥95.2M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.5M |

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) | 21 | 27 | 23 | 32 | 33 |
| Average salary (parent company) | ¥4.9M | ¥5M | ¥5M | ¥5.2M | ¥5.8M |
| Average age (parent company) | 45.8 years | 43.1 years | 43.1 years | 44.1 years | 42.9 years |
| Average tenure (parent company) | 6.1 years | 5.3 years | 4.7 years | 4.0 years | 4.8 years |

Year over year: Employees (consolidated) +3.1% · Revenue (consolidated) +23.3%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -1,235 | -39.3% | S100YKRG |
| Capital expenditure | 4 | 0.1% | S100YKRG |
| Free cash flow | -1,239 | -39.4% | 算出 |
| Investing cash flow | -5 | -0.1% | S100YKRG |
| Financing cash flow | 4,029 | 128.2% | S100YKRG |
| Share buyback | 0 | 0.0% | S100YKRG |
| Change in cash | 2,829 | 90.0% | S100YKRG |
| Cash and equivalents | 4,716 | 150.1% | S100YKRG |

## 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 | 558 | 250 | 378 | 1,887 | 4,716 | S100TWFX, S100WBBT, S100YKRG |
| Total assets | 1,514 | 1,201 | 1,645 | 3,548 | 7,700 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Net assets | 1,308 | 899 | 976 | 2,956 | 7,078 | S100TWFX, S100WBBT, S100YKRG |
| Share capital | 970 | 970 | 1,048 | 1,891 | 3,910 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Property, plant and equipment | — | — | — | 3 | 3 | S100YKRG |
| Intangible assets excluding goodwill | — | — | — | 0 | 0 | S100YKRG |
| Investment securities | 475 | 375 | 565 | — | — | S100TC35, S100TWFX, S100WBBT |
| Current assets | 978 | 764 | 1,016 | 3,405 | 7,576 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Current liabilities | 103 | 298 | 665 | 588 | 618 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Long-term borrowings | 100 | — | — | — | — | S100TC35 |
| Total liabilities | 207 | 302 | 669 | 592 | 622 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Equity attributable to owners of parent | 1,458 | 1,150 | 999 | 2,955 | 7,077 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Retained earnings | -609 | -918 | -1,224 | -953 | 83 | S100TC35, S100TWFX, S100WBBT, S100YKRG |
| Treasury stock | — | — | — | 0 | -0 | S100YKRG |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 61% | S100YKRG |
| Property, plant and equipment | 0% | S100YKRG |
| Intangibles and goodwill | 0% | S100YKRG |
| Other assets | 39% | S100YKRG |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 8% | S100YKRG |
| Equity | 92% | S100YKRG |

### 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 | 1,514 | 1,201 | 1,645 | 3,548 | 7,700 |
| Equity | 1,308 | 899 | 976 | 2,956 | 7,078 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 558 | 250 | 378 | 1,887 | 4,716 |

## 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) | 0.1% | S100YKRG |
| Fixed assets ÷ total assets | 0.0% | S100YKRG |
| Goodwill ÷ parent equity | — | —, S100YKRG |

### 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) | 61.3% |
| Cash ÷ revenue | 150.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -1307.0% |
| Cash vs. profit gap | -1,318 JPY mn (of net income -1585.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.1% |
| Investing CF relative to operating CF | — |

## 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 | — | —× | -21.3% | —× | — | S100TC35 |
| 2023 | — | —× | -22.7% | —× | — | S100TWFX |
| 2024 | — | —× | -21.5% | —× | — | S100WBBT |
| 2025 | 10.6% | 0.98× | 10.4% | 1.31× | 13.7% | S100YKRG |
| 2026 | 2.6% | 0.56× | 1.5% | 1.12× | 1.7% | S100YKRG |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 長澤 誠 | Major shareholder | 10.7% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 1.3% | 2026-03-31 |
| ＢＮＹＭ ＳＡ／ＮＶ ＦＯＲ ＢＮＹＭ ＦＯＲ ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴＳ Ｍ ＬＳＣＢ ＲＤ （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.1% | 2026-03-31 |
| ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ） （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 0.9% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 0.8% | 2026-03-31 |
| 小松 秀輝 | Major shareholder | 0.7% | 2026-03-31 |
| 南雲 久美子 | Major shareholder | 0.6% | 2026-03-31 |
| ＢＮＰ ＰＡＲＩＢＡＳ ＦＩＮＡＮＣＩＡＬ ＭＡＲＫＥＴＳ （常任代理人 ＢＮＰパリバ証券株式会社） | Major shareholder | 0.6% | 2026-03-31 |
| 中埜 昌美 | Major shareholder | 0.5% | 2026-03-31 |
| 竹田 和重 | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第24期(2025/04/01－2026/03/31) | S100YKRG | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKRG,, |
| 訂正有価証券報告書－第23期(2024/04/01－2025/03/31) | S100WBBT | 2025-07-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WBBT,, |
| 有価証券報告書－第22期(2023/04/01－2024/03/31) | S100TWFX | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWFX,, |
| 訂正有価証券報告書－第21期(2022/04/01－2023/03/31) | S100TC35 | 2024-04-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TC35,, |
| 有価証券報告書－第20期(令和3年4月1日－令和4年3月31日) | S100OJT9 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJT9,, |
| 有価証券報告書－第19期(令和2年4月1日－令和3年3月31日) | S100LUVS | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUVS,, |

## 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).