# geechs inc.: 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19期(2025/04/01－2026/03/31) (S100YJZ1)
> Page: https://vizora.meequs.com/en/company/geechs
> Retrieved: 2026-09-30T19:05:52.489Z

## Company

geechs, founded in 2007, is a company in HR & Staffing listed on TSE Standard. It has 300 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | geechs inc. |
| Ticker | 7060 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7060.T) |
| Listing | TSE Standard |
| Head office | 東京都渋谷区渋谷二丁目24番12号 |
| Representative (per filing) | 代表取締役CEO 曽根原 稔人 |
| Founded | Aug 2007 |
| Share capital | ¥1.11B |
| Employees (consolidated) | 300 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | March |
| Website | geechs.com (https://geechs.com/) |
| Corporate number | 2011001061870 |
| EDINET | E34720 |
| Industries (Vizora) | HR & Staffing, Education |

> Profile source: annual securities report (S100YJZ1, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 97.8 | 68 |
| Profitability | 22.2 | 88 |
| Cash conversion | 41.9 | 80 |
| Efficiency | 97.2 | 88 |
| Financial strength | 90 | 5 |

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)

- About 63% of geechs's sales come from IT job matching business(domestic), with IT job matching business(overseas) and Seed Techbusiness making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +4.8% from the prior year, operating profit +76.7%.

## Company structure

- Segment revenue mix: IT job matching business(domestic) 63.1%、IT job matching business(overseas) 35.1%、Seed Techbusiness 1.8%
- Revenue → net income: ¥26375627000 → ¥648008000
- Net income → operating cash flow: ¥648008000 → ¥744100000（difference ¥96092000）
- Main uses of operating cash flow: CapEx ¥2586000 / dividends ¥206178000 / buybacks ¥99973000
- Change in cash: ¥140450000
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 | ¥26.4B |  |
| Operating income | ¥875.7M | Margin 3.3% |
| Net income | ¥643M | Margin 2.4% |
| Free cash flow | ¥741.5M |  |
| Largest business | IT job matching business(domestic) | of segment revenue 63.1% |
| Employees (consolidated) | 300 |  |
| EPS | ¥61.75 |  |
| Diluted EPS | ¥61.73 |  |
| Book value per share | ¥319.37 |  |
| Equity ratio | 38.7% |  |
| Shares outstanding | 10,330,709 |  |
| Treasury shares | 171,200 |  |
| Shareholders | 3,618 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 47.7% | Net cash ¥2.17B · Cash ÷ revenue 14.2% |
| Vs. industry median margin | -5.3 pp | HR & Staffing |
| ROE | 22.9% | Derived from disclosed figures |
| ROA | 8.4% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 95% of positive segment profit
- FY2026, segment profit share differs by -33 points
- FY2026, cash is 48% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3427816000 | ¥26375627000 | +669.5% |
| Operating income | ¥738479000 | ¥875689000 | +18.6% |
| Operating margin | 21.5% | 3.3% | -18.2 pp |
| Employees | 357 people | 300 people | -16.0% |
| Cash and equivalents | ¥3149695000 | ¥3747062000 | +19.0% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| IT人材事業 → 事業再編・廃止 | 40.9% |
| IT人材育成事業 → 事業再編・廃止 | 2.9% |
| Seed Tech事業 → Seed Tech事業 | 1.8% |
| Seed Tech事業 → 事業再編・廃止 | 1.1% |
| G2 Studios事業 → 事業再編・廃止 | 45.8% |
| x-Tech事業 → 事業再編・廃止 | 7.5% |
| 新設・再編 → IT人材事業（国内） | 63.1% |
| 新設・再編 → IT人材事業（海外） | 35.1% |

Segment revenue source references: 8 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| IT job matching business(domestic) | 3 years | +9.2% | ¥16600755000 | 8.4% | 2 |
| IT job matching business(overseas) | 2 years | +13.6% | ¥9243878000 | 0.4% | 2 |
| Seed Techbusiness | 5 years | +36.1% | ¥470994000 | 7.3% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 26,376 | 100.0% | S100YJZ1 |
| Cost of revenue | 22,414 | 85.0% | S100YJZ1 |
| Gross profit | 3,962 | 15.0% | S100YJZ1 |
| SG&A | 3,086 | 11.7% | S100YJZ1 |
| Operating income | 876 | 3.3% | S100YJZ1 |
| Ordinary income | 843 | 3.2% | S100YJZ1 |
| Pretax income | 919 | 3.5% | S100YJZ1 |
| Income tax | 271 | 1.0% | S100YJZ1 |
| Net income | 648 | 2.5% | S100YJZ1 |
| Net income attributable to owners | 643 | 2.4% | S100YJZ1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 85 |
| SG&A | 12 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 15.0% → Operating margin 3.3% → Net margin 2.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.8%; Core profit growth: +76.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 15.91×
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 | 25,162 | 26,376 | 1,213 | +4.8% |
| Gross profit | 3,571 | 3,962 | 390 | +10.9% |
| Operating income | 496 | 876 | 380 | +76.7% |
| Net income attributable to owners | 50 | 643 | 593 | +1191.3% |
| Operating cash flow | 47 | 744 | 697 | +1489.5% |
| Free cash flow | 43 | 742 | 698 | +1623.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 3,544 | 684 | 19.3% | 391 | 40 | 26 | S100LMB1 |
| FY ending Mar 2021 | 3,428 | 738 | 21.5% | 458 | 662 | 651 | S100Q86P |
| FY ending Mar 2022 | 14,341 | 1,134 | 7.9% | 705 | 369 | 346 | S100R56E |
| FY ending Mar 2023 | 15,998 | 589 | 3.7% | 244 | 688 | 680 | S100TSFN |
| FY ending Mar 2024 | 23,740 | 91 | 0.4% | -1,473 | -4 | -9 | S100W5R4 |
| FY ending Mar 2025 | 25,162 | 496 | 2.0% | 50 | 47 | 43 | S100YJZ1 |
| FY ending Mar 2026 | 26,376 | 876 | 3.3% | 643 | 744 | 742 | S100YJZ1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥87.9M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.1M |

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) | 384 | 473 | 268 | 291 | 300 |
| Average salary (parent company) | ¥4.8M | ¥4.9M | ¥5.1M | ¥5.1M | ¥5.2M |
| Average age (parent company) | 31.5 years | 31.1 years | 32.2 years | 32.0 years | 31.9 years |
| Average tenure (parent company) | 3.4 years | 3.6 years | 3.4 years | 3.6 years | 3.9 years |

Year over year: Employees (consolidated) +3.1% · Revenue (consolidated) +4.8%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| IT job matching business(domestic) | 16,601 | 63.1% | 1,397 | 8.4% |
| IT job matching business(overseas) | 9,244 | 35.1% | 34 | 0.4% |
| Seed Techbusiness | 471 | 1.8% | 34 | 7.3% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| IT job matching business(domestic) | 63.1% | 95.3% | 32.3 | 8.4% |
| IT job matching business(overseas) | 35.1% | 2.3% | -32.8 | 0.4% |
| Seed Techbusiness | 1.8% | 2.4% | 0.6 | 7.3% |

Segment → industry: Seed Techbusiness → HR & Staffing / IT job matching business(overseas) → HR & Staffing / IT job matching business(domestic) → HR & Staffing / Seed Techbusiness → Education

## 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 | 744 | 2.8% | S100YJZ1 |
| Capital expenditure | 3 | 0.0% | S100YJZ1 |
| Free cash flow | 742 | 2.8% | 算出 |
| Investing cash flow | 79 | 0.3% | S100YJZ1 |
| Financing cash flow | -692 | -2.6% | S100YJZ1 |
| Dividends paid | 206 | 0.8% | S100YJZ1 |
| Share buyback | 100 | 0.4% | S100YJZ1 |
| Change in cash | 140 | 0.5% | S100YJZ1 |
| Cash and equivalents | 3,747 | 14.2% | S100YJZ1 |

## 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 | 3,357 | 3,755 | 3,750 | 3,607 | 3,747 | S100TSFN, S100W5R4, S100YJZ1 |
| Total assets | 5,874 | 8,999 | 7,174 | 7,375 | 7,852 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Net assets | 4,471 | 4,687 | 3,071 | 2,871 | 3,055 | S100TSFN, S100W5R4, S100YJZ1 |
| Share capital | 1,102 | 1,110 | 1,112 | 1,112 | 1,112 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Property, plant and equipment | 25 | 127 | 83 | 21 | 97 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Intangible assets excluding goodwill | 1 | 2,130 | 510 | 640 | 580 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Goodwill | — | 945 | — | 283 | 247 | S100TSFN, S100YJZ1 |
| Investment securities | 130 | 80 | 35 | 26 | 25 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Current assets | 5,524 | 6,409 | 6,301 | 6,452 | 6,973 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Current liabilities | 1,399 | 2,377 | 2,604 | 2,652 | 3,185 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Short-term borrowings | — | — | — | 41 | 131 | S100YJZ1 |
| Long-term borrowings | — | 1,505 | 1,333 | 1,687 | 1,436 | S100TSFN, S100W5R4, S100YJZ1 |
| Bonds | — | — | — | 27 | 6 | S100YJZ1 |
| Interest-bearing debt | — | — | — | 1,755 | 1,573 | 算出 |
| Total liabilities | 1,403 | 4,312 | 4,103 | 4,504 | 4,797 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Non-controlling interests | 0 | 321 | 192 | 29 | 0 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Equity attributable to owners of parent | 4,447 | 4,302 | 2,730 | 2,677 | 2,944 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Retained earnings | 2,315 | 2,454 | 556 | 503 | 940 | S100R56E, S100TSFN, S100W5R4, S100YJZ1 |
| Treasury stock | -21 | -321 | — | — | -100 | S100R56E, S100TSFN, S100YJZ1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 48% | S100YJZ1 |
| Property, plant and equipment | 1% | S100YJZ1 |
| Intangibles and goodwill | 11% | S100YJZ1 |
| Investment securities | 0% | S100YJZ1 |
| Other assets | 40% | S100YJZ1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 20% | 算出 |
| Other liabilities | 41% | S100YJZ1 |
| Equity | 39% | S100YJZ1 |

### 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 | 5,874 | 8,999 | 7,174 | 7,375 | 7,852 |
| Equity | 4,471 | 4,687 | 3,071 | 2,871 | 3,055 |
| Interest-bearing debt | — | — | — | 1,755 | 1,573 |
| Cash | 3,357 | 3,755 | 3,750 | 3,607 | 3,747 |

## 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) | 0.4% | S100YJZ1 |
| Fixed assets ÷ total assets | 1.2% | S100YJZ1 |
| Goodwill ÷ parent equity | 8.4% | S100YJZ1 |

### 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) | 47.7% |
| Cash ÷ revenue | 14.2% |
| Net cash (cash − interest-bearing debt) | ¥2.17B |
| Net debt ÷ operating cash flow | -2.92× |
| Cash conversion (operating CF ÷ operating income) | 85.0% |
| Cash vs. profit gap | 101 JPY mn (of net income 15.7%) |
| Shareholder returns / net income | 47.6% |
| Shareholder returns / FCF | 41.3% |
| Shareholder payments — dividends / net income | 32.1% |
| Shareholder payments — dividends / FCF | 27.8% |
| CapEx intensity (capex ÷ revenue) | 0.0% |
| Investing CF relative to operating CF | 10.7% |

## 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 | 4.9% | 2.44× | 12.0% | 1.32× | 15.9% | S100R56E |
| 2023 | 1.5% | 2.15× | 3.3% | 1.70× | 5.6% | S100TSFN |
| 2024 | — | —× | -18.2% | —× | — | S100W5R4 |
| 2025 | 0.2% | 3.46× | 0.7% | 2.69× | 1.8% | S100YJZ1 |
| 2026 | 2.4% | 3.46× | 8.4% | 2.71× | 22.9% | S100YJZ1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 合同会社アトム | Major shareholder | 38.4% | 2026-03-31 |
| 曽根原 稔人 | Major shareholder | 26.6% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 3.5% | 2026-03-31 |
| 荒井 富雄 | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社全国個人事業者支援協会 | Major shareholder | 1.4% | 2026-03-31 |
| 柏木 拳志 | Major shareholder | 1.0% | 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 | 0.8% | 2026-03-31 |
| 株式会社グッドスマイルカンパニー | Major shareholder | 0.7% | 2026-03-31 |
| 曽我 健 | Major shareholder | 0.6% | 2026-03-31 |
| ＴＨＥ ＢＡＮＫ ＯＦ ＮＥＷ ＹＯＲＫ ＭＥＬＬＯＮ １４００４０（常任代理人株式会社みずほ銀行） | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第19期(2025/04/01－2026/03/31) | S100YJZ1 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJZ1,, |
| 有価証券報告書－第18期(2024/04/01－2025/03/31) | S100W5R4 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5R4,, |
| 有価証券報告書－第17期(2023/04/01－2024/03/31) | S100TSFN | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSFN,, |
| 有価証券報告書－第16期(2022/04/01－2023/03/31) | S100R56E | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R56E,, |
| 訂正有価証券報告書－第15期(2021/04/01－2022/03/31) | S100Q86P | 2023-02-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Q86P,, |
| 有価証券報告書－第14期(令和2年4月1日－令和3年3月31日) | S100LMB1 | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMB1,, |

## 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).