# GENDAI AGENCY 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31期(2025/04/01－2026/03/31) (S100YEOU)
> Page: https://vizora.meequs.com/en/company/gendai-agency
> Retrieved: 2026-09-30T18:26:15.986Z

## Company

Gendai Agency, founded in 1995, is a company in Advertising listed on TSE Standard. It has 208 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GENDAI AGENCY INC. |
| Ticker | 2411 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2411.T) |
| Listing | TSE Standard |
| Head office | 東京都新宿区西新宿三丁目20番2号 |
| Representative (per filing) | 代表取締役 社長最高経営責任者 大島 克俊 |
| Founded | Apr 1995 |
| Share capital | ¥100M |
| Employees (consolidated) | 208 |
| Average salary (parent only) | ¥5.7M |
| Fiscal year end | March |
| Website | www.gendai-a.co.jp (https://www.gendai-a.co.jp/) |
| Corporate number | 8010101001161 |
| EDINET | E05417 |
| Industries (Vizora) | Advertising, Real Estate Development & Leasing, Real Estate Brokerage & Management |

> Profile source: annual securities report (S100YEOU, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 28.9 | 57 |
| Profitability | 72.7 | 86 |
| Cash conversion | 60.7 | 75 |
| Efficiency | 56.4 | 86 |

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 99% of Gendai Agency's sales come from Advertising Business, with Real Estate Business making up much of the rest.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed -1.9% from the prior year, operating profit +61.2%.

## Company structure

- Segment revenue mix: Advertising Business 98.7%、Real Estate Business 1.3%
- Revenue → net income: ¥7531000000 → ¥473000000
- Net income → operating cash flow: ¥473000000 → ¥673000000（difference ¥200000000）
- Main uses of operating cash flow: CapEx ¥55000000 / dividends ¥255000000 / buybacks ¥526000000
- Change in cash: ¥-467000000
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 | ¥7.53B |  |
| Operating income | ¥674M | Margin 8.9% |
| Net income | ¥473M | Margin 6.3% |
| Free cash flow | ¥618M |  |
| Largest business | Advertising Business | of segment revenue 98.7% |
| Employees (consolidated) | 208 |  |
| EPS | ¥27.01 |  |
| Book value per share | ¥290.08 |  |
| Equity ratio | 71.9% |  |
| Shares outstanding | 12,300,000 |  |
| Treasury shares | 1,300,000 |  |
| Shareholders | 7,268 |  |
| Average salary (parent only) | ¥5.7M | Filing company only |
| Cash ratio | 59.5% | Cash ÷ revenue 42.8% |
| Vs. industry median margin | +3.3 pp | Advertising |
| ROE | 11.7% | Derived from disclosed figures |
| ROA | 8.5% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.1× dividends
- FY2026, one segment accounts for 95% of positive segment profit
- FY2026, cash is 60% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥7251000000 | ¥7531000000 | +3.9% |
| Operating income | ¥-290000000 | ¥674000000 | — |
| Operating margin | -4.0% | 8.9% | +12.9 pp |
| Employees | 256 people | 208 people | -18.8% |
| Cash and equivalents | ¥3802000000 | ¥3220000000 | -15.3% |

### 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 |
| --- | ---: |
| 広告事業 → 広告事業 | 98.7% |
| 広告事業 → 事業再編・廃止 | 0.4% |
| 不動産事業 → 不動産事業 | 0.8% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 不動産事業 | 0.5% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 7,531 | 100.0% | S100YEOU |
| Cost of revenue | 4,828 | 64.1% | S100YEOU |
| Gross profit | 2,702 | 35.9% | S100YEOU |
| SG&A | 2,027 | 26.9% | S100YEOU |
| Operating income | 674 | 8.9% | S100YEOU |
| Ordinary income | 680 | 9.0% | S100YEOU |
| Pretax income | 740 | 9.8% | S100YEOU |
| Income tax | 266 | 3.5% | S100YEOU |
| Net income | 473 | 6.3% | S100YEOU |
| Net income attributable to owners | 473 | 6.3% | S100YEOU |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 27 |
| Operating income | 9 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 35.9% → Operating margin 8.9% → Net margin 6.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -1.9%; Core profit growth: +61.2%
Operating leverage (core profit growth ÷ revenue growth): -31.78×
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 | 7,679 | 7,531 | -148 | -1.9% |
| Gross profit | 2,420 | 2,702 | 282 | +11.7% |
| Operating income | 418 | 674 | 256 | +61.2% |
| Net income attributable to owners | 358 | 473 | 115 | +32.1% |
| Operating cash flow | 510 | 673 | 163 | +32.0% |
| Free cash flow | 458 | 618 | 160 | +34.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 11,115 | 460 | 4.1% | 31 | 382 | 326 | S100LT5N |
| FY ending Mar 2021 | 7,251 | -290 | -4.0% | -310 | -114 | -165 | S100OHS6 |
| FY ending Mar 2022 | 7,426 | 296 | 4.0% | 247 | 359 | 314 | S100R4V8 |
| FY ending Mar 2023 | 7,545 | 401 | 5.3% | 369 | 372 | 289 | S100TPEV |
| FY ending Mar 2024 | 7,419 | 249 | 3.4% | 125 | 260 | 184 | S100W1PR |
| FY ending Mar 2025 | 7,679 | 418 | 5.4% | 358 | 510 | 458 | S100YEOU |
| FY ending Mar 2026 | 7,531 | 674 | 8.9% | 473 | 673 | 618 | S100YEOU |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥36.2M |
| Operating income per employee (consolidated) | ¥3.2M |
| Net income per employee (consolidated) | ¥2.3M |

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) | 226 | 212 | 215 | 207 | 208 |
| Average salary (parent company) | ¥5.4M | ¥5.4M | ¥5.4M | ¥5.5M | ¥5.7M |
| Average age (parent company) | 39.1 years | 39.8 years | 39.7 years | 40.0 years | 40.6 years |
| Average tenure (parent company) | 11.8 years | 12.2 years | 11.6 years | 12.0 years | 12.0 years |

Year over year: Employees (consolidated) +0.5% · Revenue (consolidated) -1.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Advertising Business | 7,431 | 98.7% | 907 | 12.2% |
| Real Estate Business | 99 | 1.3% | 47 | 47.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Advertising Business | 98.7% | 95.1% | -3.6 | 12.2% |
| Real Estate Business | 1.3% | 4.9% | 3.6 | 47.5% |

Segment → industry: Advertising Business → Advertising / Real Estate Business → Real Estate Development & Leasing / Real Estate Business → Real Estate Brokerage & Management

## 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 | 673 | 8.9% | S100YEOU |
| Capital expenditure | 55 | 0.7% | S100YEOU |
| Free cash flow | 618 | 8.2% | 算出 |
| Investing cash flow | -273 | -3.6% | S100YEOU |
| Financing cash flow | -868 | -11.5% | S100YEOU |
| Dividends paid | 255 | 3.4% | S100YEOU |
| Share buyback | 526 | 7.0% | S100YEOU |
| Change in cash | -467 | -6.2% | S100YEOU |
| Cash and equivalents | 3,220 | 42.8% | S100YEOU |

## 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 | 3,978 | 3,729 | 3,431 | 3,687 | 3,220 | S100TPEV, S100W1PR, S100YEOU |
| Total assets | 6,254 | 6,056 | 5,428 | 5,746 | 5,409 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Net assets | 4,476 | 4,389 | 4,085 | 4,201 | 3,891 | S100TPEV, S100W1PR, S100YEOU |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Property, plant and equipment | 583 | 603 | 591 | 577 | 602 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Intangible assets excluding goodwill | 111 | 110 | 128 | 118 | 102 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Goodwill | 48 | 36 | 24 | 12 | — | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Investment securities | 130 | 128 | 86 | 163 | 363 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Current assets | 5,107 | 4,847 | 4,490 | 4,721 | 4,176 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Current liabilities | 1,289 | 1,067 | 993 | 1,269 | 1,166 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Short-term borrowings | 200 | — | — | 100 | — | S100R4V8, S100YEOU |
| Long-term borrowings | 450 | 562 | 312 | 212 | 275 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Total liabilities | 1,777 | 1,667 | 1,342 | 1,545 | 1,518 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Equity attributable to owners of parent | 4,475 | 4,385 | 4,080 | 4,205 | 3,897 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Retained earnings | 3,111 | 3,332 | 3,245 | 3,370 | 3,588 | S100R4V8, S100TPEV, S100W1PR, S100YEOU |
| Treasury stock | -449 | — | — | — | -526 | S100R4V8, S100YEOU |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 59% | S100YEOU |
| Property, plant and equipment | 11% | S100YEOU |
| Intangibles and goodwill | 2% | S100YEOU |
| Investment securities | 7% | S100YEOU |
| Other assets | 21% | S100YEOU |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 28% | S100YEOU |
| Equity | 72% | S100YEOU |

### 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 | 6,254 | 6,056 | 5,428 | 5,746 | 5,409 |
| Equity | 4,476 | 4,389 | 4,085 | 4,201 | 3,891 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,978 | 3,729 | 3,431 | 3,687 | 3,220 |

## 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) | 8.0% | S100YEOU |
| Fixed assets ÷ total assets | 11.1% | S100YEOU |
| Goodwill ÷ parent equity | — | —, S100YEOU |

### 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) | 59.5% |
| Cash ÷ revenue | 42.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 99.9% |
| Cash vs. profit gap | 200 JPY mn (of net income 42.3%) |
| Shareholder returns / net income | 165.1% |
| Shareholder returns / FCF | 126.4% |
| Shareholder payments — dividends / net income | 53.9% |
| Shareholder payments — dividends / FCF | 41.3% |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 40.6% |

## 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 | 3.3% | 1.19× | 3.9% | 1.40× | 5.5% | S100R4V8 |
| 2023 | 4.9% | 1.23× | 6.0% | 1.39× | 8.3% | S100TPEV |
| 2024 | 1.7% | 1.29× | 2.2% | 1.36× | 3.0% | S100W1PR |
| 2025 | 4.7% | 1.37× | 6.4% | 1.35× | 8.6% | S100YEOU |
| 2026 | 6.3% | 1.35× | 8.5% | 1.38× | 11.7% | S100YEOU |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＧＡキャピタル株式会社 | Major shareholder | 33.0% | 2026-03-31 |
| 梅田 美智子 | Major shareholder | 3.3% | 2026-03-31 |
| 内藤 征吾 | Major shareholder | 2.6% | 2026-03-31 |
| 完山 敏錫 | Major shareholder | 1.7% | 2026-03-31 |
| 鎌倉 吉成 | Major shareholder | 1.6% | 2026-03-31 |
| 森本 潤 | Major shareholder | 1.4% | 2026-03-31 |
| 完山 永輝 | Major shareholder | 1.1% | 2026-03-31 |
| 完山 永吏 | Major shareholder | 1.1% | 2026-03-31 |
| 上川名 弦 | Major shareholder | 1.1% | 2026-03-31 |
| ベニス産業株式会社 | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第31期(2025/04/01－2026/03/31) | S100YEOU | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEOU,, |
| 有価証券報告書－第30期(2024/04/01－2025/03/31) | S100W1PR | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1PR,, |
| 有価証券報告書－第29期(2023/04/01－2024/03/31) | S100TPEV | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPEV,, |
| 有価証券報告書－第28期(2022/04/01－2023/03/31) | S100R4V8 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4V8,, |
| 有価証券報告書－第27期(令和3年4月1日－令和4年3月31日) | S100OHS6 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHS6,, |
| 有価証券報告書－第26期(令和2年4月1日－令和3年3月31日) | S100LT5N | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LT5N,, |

## 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).