# GIMIC Co., Ltd.: 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23期(2025/04/01－2026/03/31) (S100YJX2)
> Page: https://vizora.meequs.com/en/company/gimic
> Retrieved: 2026-09-30T20:18:03.241Z

## Company

Gimic, founded in 2003, is a company in Health Tech listed on TSE Standard. It has 323 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GIMIC Co., Ltd. |
| Ticker | 475A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/475A.T) |
| Listing | TSE Standard |
| Head office | 東京都渋谷区南平台町2番17号 |
| Representative (per filing) | 代表取締役社長 兼 社長執行役員 CEO 横嶋 大輔 |
| Founded | Dec 2003 |
| Share capital | ¥801M |
| Employees (consolidated) | 323 |
| Average salary (parent only) | ¥5M |
| Fiscal year end | March |
| Website | www.gimic.co.jp (https://www.gimic.co.jp/) |
| Corporate number | 7011001073333 |
| EDINET | E41115 |
| Industries (Vizora) | Health Tech |

> Profile source: annual securities report (S100YJX2, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Health Tech (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 10.7 | 14 |
| Profitability | 47.2 | 18 |
| Cash conversion | 61.8 | 17 |
| Efficiency | 97.2 | 18 |

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)

- Gimic brought in ¥3.84B in revenue.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +8.2% from the prior year, operating profit +70.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥3842867000 → ¥307100000
- Net income → operating cash flow: ¥307100000 → ¥402634000（difference ¥95534000）
- Main uses of operating cash flow: CapEx ¥29420000 / dividends — / buybacks —
- Change in cash: ¥1621339000
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 | ¥3.84B |  |
| Operating income | ¥465.7M | Margin 12.1% |
| Net income | ¥307.1M | Margin 8.0% |
| Free cash flow | ¥373.2M |  |
| Employees (consolidated) | 323 |  |
| EPS | ¥72.12 |  |
| Diluted EPS | ¥71.27 |  |
| Book value per share | ¥462.56 |  |
| Equity ratio | 73.3% |  |
| Shares outstanding | 5,235,200 |  |
| Shareholders | 2,670 |  |
| Average salary (parent only) | ¥5M | Filing company only |
| Cash ratio | 62.6% | Cash ÷ revenue 53.8% |
| Vs. industry median margin | -1.7 pp | Health Tech |
| ROE | 19.6% | Derived from disclosed figures |
| ROA | 12.5% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 63% of total assets

## What changed in 1 years

| Metric | FY ending Mar 2025 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3552165000 | ¥3842867000 | +8.2% |
| Operating income | ¥272624000 | ¥465700000 | +70.8% |
| Operating margin | 7.7% | 12.1% | +4.4 pp |
| Employees | 316 people | 323 people | +2.2% |
| Cash and equivalents | ¥444849000 | ¥2066189000 | +364.5% |

### Change in segment revenue mix

Span: FY ending Mar 2025 → 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 | 3,843 | 100.0% | S100YJX2 |
| Cost of revenue | 696 | 18.1% | S100YJX2 |
| Gross profit | 3,147 | 81.9% | S100YJX2 |
| SG&A | 2,681 | 69.8% | S100YJX2 |
| Operating income | 466 | 12.1% | S100YJX2 |
| Ordinary income | 435 | 11.3% | S100YJX2 |
| Pretax income | 435 | 11.3% | S100YJX2 |
| Income tax | 128 | 3.3% | S100YJX2 |
| Net income | 307 | 8.0% | S100YJX2 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 18 |
| SG&A | 70 |
| Operating income | 12 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 81.9% → Operating margin 12.1% → Net margin 8.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.2%; Core profit growth: +70.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 8.65×
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 | 3,552 | 3,843 | 291 | +8.2% |
| Gross profit | 2,880 | 3,147 | 267 | +9.3% |
| Operating income | 273 | 466 | 193 | +70.8% |
| Operating cash flow | 212 | 403 | 191 | +89.9% |
| Free cash flow | 189 | 373 | 184 | +97.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2025 | 3,552 | 273 | 7.7% | 192 | 212 | 189 | S100YJX2 |
| FY ending Mar 2026 | 3,843 | 466 | 12.1% | 307 | 403 | 373 | S100YJX2 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥11.9M |
| Operating income per employee (consolidated) | ¥1.4M |
| Net income per employee (consolidated) | ¥950.8K |

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

| History | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: |
| Employees (consolidated) | 316 | 323 |
| Average salary (parent company) | — | ¥5M |
| Average age (parent company) | — | 32.6 years |
| Average tenure (parent company) | — | 5.2 years |

Year over year: Employees (consolidated) +2.2% · Revenue (consolidated) +8.2%

## 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 | 403 | 10.5% | S100YJX2 |
| Capital expenditure | 29 | 0.8% | S100YJX2 |
| Free cash flow | 373 | 9.7% | 算出 |
| Investing cash flow | -31 | -0.8% | S100YJX2 |
| Financing cash flow | 1,249 | 32.5% | S100YJX2 |
| Change in cash | 1,621 | 42.2% | S100YJX2 |
| Cash and equivalents | 2,066 | 53.8% | S100YJX2 |

## 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 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 445 | 2,066 | S100YJX2 |
| Total assets | 1,631 | 3,303 | S100YJX2 |
| Net assets | 713 | 2,422 | S100YJX2 |
| Share capital | 100 | 801 | S100YJX2 |
| Property, plant and equipment | 80 | 74 | S100YJX2 |
| Intangible assets excluding goodwill | 132 | 87 | S100YJX2 |
| Current assets | 1,231 | 2,948 | S100YJX2 |
| Current liabilities | 767 | 792 | S100YJX2 |
| Long-term borrowings | 104 | 43 | S100YJX2 |
| Total liabilities | 918 | 881 | S100YJX2 |
| Equity attributable to owners of parent | 712 | 2,422 | S100YJX2 |
| Retained earnings | 425 | 732 | S100YJX2 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 62% | S100YJX2 |
| Property, plant and equipment | 2% | S100YJX2 |
| Intangibles and goodwill | 3% | S100YJX2 |
| Other assets | 33% | S100YJX2 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 27% | S100YJX2 |
| Equity | 73% | S100YJX2 |

### Balance sheet history

| Metric | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: |
| Total assets | 1,631 | 3,303 |
| Equity | 713 | 2,422 |
| Interest-bearing debt | — | — |
| Cash | 445 | 2,066 |

## 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) | 1.9% | S100YJX2 |
| Fixed assets ÷ total assets | 2.2% | S100YJX2 |
| Goodwill ÷ parent equity | — | —, S100YJX2 |

### 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) | 62.6% |
| Cash ÷ revenue | 53.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 86.5% |
| Cash vs. profit gap | 96 JPY mn (of net income 31.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.8% |
| Investing CF relative to operating CF | 7.6% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2025 | 5.4% | 2.18× | 11.8% | 2.29× | 27.0% | S100YJX2 |
| 2026 | 8.0% | 1.56× | 12.5% | 1.57× | 19.6% | S100YJX2 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Ｙ－Ｂｌｏｏｄ | Major shareholder | 34.4% | 2026-03-31 |
| 横嶋 大輔 | Major shareholder | 12.1% | 2026-03-31 |
| ＴＨＥ ＢＡＮＫ ＯＦ ＮＥＷ ＹＯＲＫ １３４０８８ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 5.7% | 2026-03-31 |
| 松井証券株式会社 | Major shareholder | 4.2% | 2026-03-31 |
| ギミック従業員持株会 | Major shareholder | 2.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.7% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 2.3% | 2026-03-31 |
| ＢＢＨ ＬＵＸ／ＢＲＯＷＮ ＢＲＯＴＨＥＲＳ ＨＡＲＲＩＭＡＮ （ＬＵＸＥＭＢＯＵＲＧ） ＳＣＡ ＣＵＳＴＯＤＩＡＮ ＦＯＲ ＳＭＤ－ＡＭ ＦＵＮＤＳ － ＤＳＢＩ ＪＡＰＡＮ ＥＱＵＩＴＹ ＳＭＡＬＬ ＣＡＰ ＡＢＳＯＬＵＴＥ ＶＡＬＵＥ （常任代理人 株式会社三井住友銀行） | Major shareholder | 2.3% | 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 | 1.7% | 2026-03-31 |
| Ｍａｌｃｏｌｍ Ｆ．ＭａｃＬｅａｎ ＩＶ | Major shareholder | 1.4% | 2026-03-31 |
| 増山 太郎 | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第23期(2025/04/01－2026/03/31) | S100YJX2 | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJX2,, |

## 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).