# GINZA RENOIR CO.,LTD: 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63期(2025/04/01－2026/03/31) (S100YJPB)
> Page: https://vizora.meequs.com/en/company/ginza-renoir
> Retrieved: 2026-09-30T22:19:18.269Z

## Company

Ginza Renoir, founded in 1964, is a company in Cafés listed on TSE Standard. It has 151 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GINZA RENOIR CO.,LTD |
| Ticker | 9853 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9853.T) |
| Listing | TSE Standard |
| Head office | 東京都中野区中央4丁目60番3号 |
| Representative (per filing) | 代表取締役社長 岡崎 裕成 |
| Founded | Oct 1964 |
| Share capital | ¥100M |
| Employees (consolidated) | 151 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.ginza-renoir.co.jp (https://www.ginza-renoir.co.jp/) |
| Corporate number | 6011201015210 |
| EDINET | E03147 |
| Industries (Vizora) | Cafés |

> Profile source: annual securities report (S100YJPB, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Cafés (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 87.5 | 4 |
| Profitability | 12.5 | 4 |
| Cash conversion | 87.5 | 4 |
| Efficiency | 87.5 | 4 |

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)

- Ginza Renoir brought in ¥8.35B in revenue.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +7.0% from the prior year, operating profit +137.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥8347421000 → ¥164363000
- Net income → operating cash flow: ¥164363000 → ¥539336000（difference ¥374973000）
- Main uses of operating cash flow: CapEx ¥162088000 / dividends ¥18297000 / buybacks —
- Change in cash: ¥-101105000
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 | ¥8.35B |  |
| Operating income | ¥195.5M | Margin 2.3% |
| Net income | ¥160M | Margin 1.9% |
| Free cash flow | ¥377.2M |  |
| Employees (consolidated) | 151 |  |
| EPS | ¥26.29 |  |
| Book value per share | ¥517.33 |  |
| Equity ratio | 56.2% |  |
| Shares outstanding | 6,252,004 |  |
| Treasury shares | 143,500 |  |
| Shareholders | 4,085 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 32.7% | Cash ÷ revenue 22.3% |
| Vs. industry median margin | -4.5 pp | Cafés |
| ROE | 5.1% | Derived from disclosed figures |
| ROA | 2.8% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.4× net income
- FY2026, employees -1% while operating income rose 138%
- FY2026, parent-company salary changed +21% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4173408000 | ¥8347421000 | +100.0% |
| Operating income | ¥-1960678000 | ¥195486000 | — |
| Operating margin | -47.0% | 2.3% | +49.3 pp |
| Employees | 199 people | 151 people | -24.1% |
| Cash and equivalents | ¥1742802000 | ¥1861011000 | +6.8% |

### 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, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,347 | 100.0% | S100YJPB |
| Cost of revenue | 1,598 | 19.1% | S100YJPB |
| Gross profit | 6,750 | 80.9% | S100YJPB |
| SG&A | 6,554 | 78.5% | S100YJPB |
| Operating income | 195 | 2.3% | S100YJPB |
| Ordinary income | 251 | 3.0% | S100YJPB |
| Pretax income | 96 | 1.1% | S100YJPB |
| Income tax | -68 | -0.8% | S100YJPB |
| Net income | 164 | 2.0% | S100YJPB |
| Net income attributable to owners | 160 | 1.9% | S100YJPB |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 19 |
| SG&A | 79 |
| Operating income | 2 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 80.9% → Operating margin 2.3% → Net margin 1.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.0%; Core profit growth: +137.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 19.63×
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 | 7,800 | 8,347 | 547 | +7.0% |
| Gross profit | 6,295 | 6,750 | 455 | +7.2% |
| Operating income | 82 | 195 | 113 | +137.8% |
| Net income attributable to owners | -76 | 160 | 236 | — |
| Operating cash flow | 296 | 539 | 244 | +82.3% |
| Free cash flow | 55 | 377 | 323 | +589.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 8,045 | 414 | 5.2% | 51 | 449 | 121 | S100LX0I |
| FY ending Mar 2021 | 4,173 | -1,961 | -47.0% | -2,368 | -1,732 | -2,053 | S100QCK1 |
| FY ending Mar 2022 | 4,557 | -1,238 | -27.2% | 347 | 410 | 81 | S100R75J |
| FY ending Mar 2023 | 6,124 | -415 | -6.8% | -294 | -34 | -344 | S100TWBF |
| FY ending Mar 2024 | 7,351 | 16 | 0.2% | -59 | 316 | -93 | S100W66E |
| FY ending Mar 2025 | 7,800 | 82 | 1.1% | -76 | 296 | 55 | S100YJPB |
| FY ending Mar 2026 | 8,347 | 195 | 2.3% | 160 | 539 | 377 | S100YJPB |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥55.3M |
| Operating income per employee (consolidated) | ¥1.3M |
| Net income per employee (consolidated) | ¥1.1M |

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) | 191 | 187 | 156 | 152 | 151 |
| Average salary (parent company) | ¥4.5M | ¥4.9M | ¥5.3M | ¥5.5M | ¥5.4M |
| Average age (parent company) | 38.0 years | 39.0 years | 40.0 years | 41.0 years | 42.0 years |
| Average tenure (parent company) | 11.0 years | 11.0 years | 12.0 years | 12.0 years | 13.0 years |

Year over year: Employees (consolidated) -0.7% · Revenue (consolidated) +7.0%

## 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 | 539 | 6.5% | S100YJPB |
| Capital expenditure | 162 | 1.9% | S100YJPB |
| Free cash flow | 377 | 4.5% | 算出 |
| Investing cash flow | -208 | -2.5% | S100YJPB |
| Financing cash flow | -433 | -5.2% | S100YJPB |
| Dividends paid | 18 | 0.2% | S100YJPB |
| Change in cash | -101 | -1.2% | S100YJPB |
| Cash and equivalents | 1,861 | 22.3% | S100YJPB |

## 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 | 3,121 | 2,588 | 2,287 | 1,962 | 1,861 | S100TWBF, S100W66E, S100YJPB |
| Total assets | 6,866 | 6,428 | 6,258 | 5,893 | 5,690 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Net assets | 3,596 | 3,281 | 3,203 | 3,107 | 3,246 | S100TWBF, S100W66E, S100YJPB |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Property, plant and equipment | 1,601 | 1,614 | 1,672 | 1,582 | 1,378 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Intangible assets excluding goodwill | 10 | 9 | 9 | 7 | 4 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Investment securities | 94 | 91 | 93 | 90 | 87 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Current assets | 3,427 | 2,973 | 2,719 | 2,428 | 2,367 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Current liabilities | 2,278 | 2,246 | 2,235 | 2,076 | 1,781 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Short-term borrowings | 1,740 | 1,680 | 1,635 | 1,491 | 1,211 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Long-term borrowings | 500 | 500 | 465 | 394 | 323 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Total liabilities | 3,270 | 3,148 | 3,055 | 2,786 | 2,445 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Non-controlling interests | 43 | 44 | 45 | 46 | 46 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Equity attributable to owners of parent | 3,557 | 3,245 | 3,167 | 3,073 | 3,214 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Retained earnings | 1,832 | 1,521 | 1,443 | 1,348 | 1,490 | S100R75J, S100TWBF, S100W66E, S100YJPB |
| Treasury stock | -111 | -111 | -111 | -111 | -111 | S100R75J, S100TWBF, S100W66E, S100YJPB |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 33% | S100YJPB |
| Property, plant and equipment | 24% | S100YJPB |
| Intangibles and goodwill | 0% | S100YJPB |
| Investment securities | 2% | S100YJPB |
| Other assets | 41% | S100YJPB |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 43% | S100YJPB |
| Equity | 57% | S100YJPB |
| Other liabilities | 0% | S100YJPB |

### 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 | 6,866 | 6,428 | 6,258 | 5,893 | 5,690 |
| Equity | 3,596 | 3,281 | 3,203 | 3,107 | 3,246 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,121 | 2,588 | 2,287 | 1,962 | 1,861 |

## 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) | 16.5% | S100YJPB |
| Fixed assets ÷ total assets | 24.2% | S100YJPB |
| Goodwill ÷ parent equity | — | —, S100YJPB |

### 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) | 32.7% |
| Cash ÷ revenue | 22.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 275.9% |
| Cash vs. profit gap | 379 JPY mn (of net income 237.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 11.4% |
| Shareholder payments — dividends / FCF | 4.9% |
| CapEx intensity (capex ÷ revenue) | 1.9% |
| Investing CF relative to operating CF | 38.6% |

## 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 | 7.6% | 0.66× | 5.1% | 1.93× | 9.8% | S100R75J |
| 2023 | — | —× | -4.4% | —× | — | S100TWBF |
| 2024 | — | —× | -0.9% | —× | — | S100W66E |
| 2025 | — | —× | -1.3% | —× | — | S100YJPB |
| 2026 | 1.9% | 1.44× | 2.8% | 1.84× | 5.1% | S100YJPB |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社オーギュスト | Major shareholder | 21.8% | 2026-03-31 |
| 株式会社花見煎餅 | Major shareholder | 19.1% | 2026-03-31 |
| キーコーヒー株式会社 | Major shareholder | 12.3% | 2026-03-31 |
| 塩井 賢一 | Major shareholder | 7.3% | 2026-03-31 |
| 小宮山 誠 | Major shareholder | 2.8% | 2026-03-31 |
| 猪狩 安往 | Major shareholder | 1.3% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 1.0% | 2026-03-31 |
| 小宮山 文美 | Major shareholder | 0.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 0.7% | 2026-03-31 |
| 國谷 信雄 | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YJPB | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJPB,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100W66E | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W66E,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TWBF | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWBF,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R75J | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R75J,, |
| 訂正有価証券報告書－第59期(2021/04/01－2022/03/31) | S100QCK1 | 2023-03-07 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QCK1,, |
| 訂正有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LX0I | 2021-07-02 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LX0I,, |

## 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).