# Globee: business model and financials

> Latest period: FY ending May 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第12期(2025/06/01－2026/05/31) (S100YYMC)
> Page: https://vizora.meequs.com/en/company/globee
> Retrieved: 2026-09-30T22:22:22.695Z

## Company

Globee, founded in 2014, is a company in Education listed on TSE Growth. It has 49 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Globee Inc. |
| Ticker | 5575 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5575.T) |
| Listing | TSE Growth |
| Head office | 東京都港区東麻布一丁目7番3号 第二渡邊ビル4階 |
| Representative (per filing) | 代表取締役社長 幾嶋 研三郎 |
| Founded | Jun 2014 |
| Share capital | ¥95.5M |
| Employees (consolidated) | 49 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | May |
| Website | www.globee.io (https://www.globee.io/) |
| Corporate number | 9011001100548 |
| EDINET | E38662 |
| Industries (Vizora) | Education |

> Profile source: annual securities report (S100YYMC, filed 2026-08-25). As of filing

## Five-axis industry profile

Primary industry: Education (2026-05-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 86.5 | 26 |
| Profitability | 88.3 | 30 |
| Cash conversion | 66.1 | 28 |
| Efficiency | 25 | 30 |

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)

- Globee brought in ¥2.05B in revenue.
- Out of every ¥100 of sales, about ¥22 is left as operating profit.
- Revenue changed +24.9% from the prior year, operating profit +7.5%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥2045895000 → ¥318021000
- Net income → operating cash flow: ¥318021000 → ¥658828000（difference ¥340807000）
- Main uses of operating cash flow: CapEx ¥196458000 / dividends — / buybacks ¥139022000
- Change in cash: ¥208337000
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 | ¥2.05B |  |
| Operating income | ¥442.2M | Margin 21.6% |
| Net income | ¥318M | Margin 15.5% |
| Free cash flow | ¥462.4M |  |
| Employees (consolidated) | 49 |  |
| EPS | ¥62.77 |  |
| Diluted EPS | ¥62.34 |  |
| Book value per share | ¥220.83 |  |
| Equity ratio | 42.1% |  |
| Shares outstanding | 5,116,869 |  |
| Shareholders | 1,487 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 52.7% | Cash ÷ revenue 66.5% |
| Vs. industry median margin | +14.3 pp | Education |
| ROE | 32.0% | Derived from disclosed figures |
| ROA | 13.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.1× net income
- FY2026, revenue is 2.9× its level five years ago
- FY2026, cash is 53% of total assets

## What changed in 4 years

| Metric | FY ending May 2022 | FY ending May 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥709387000 | ¥2045895000 | +188.4% |
| Operating income | ¥64015000 | ¥442210000 | +590.8% |
| Operating margin | 9.0% | 21.6% | +12.6 pp |
| Employees | 26 people | 49 people | +88.5% |
| Cash and equivalents | ¥450388000 | ¥1360220000 | +202.0% |

### Change in segment revenue mix

Span: FY ending May 2022 → FY ending May 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,046 | 100.0% | S100YYMC |
| Cost of revenue | 1,051 | 51.4% | S100YYMC |
| Gross profit | 995 | 48.6% | S100YYMC |
| SG&A | 553 | 27.0% | S100YYMC |
| Operating income | 442 | 21.6% | S100YYMC |
| Ordinary income | 448 | 21.9% | S100YYMC |
| Pretax income | 448 | 21.9% | S100YYMC |
| Income tax | 130 | 6.3% | S100YYMC |
| Net income | 318 | 15.5% | S100YYMC |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 27 |
| Operating income | 22 |
| (Ref.) Net income | 16 |

### Margin funnel

Gross margin 48.6% → Operating margin 21.6% → Net margin 15.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +24.9%; Core profit growth: +7.5%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.30×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending May 2025 → FY ending May 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,638 | 2,046 | 408 | +24.9% |
| Gross profit | 781 | 995 | 214 | +27.3% |
| Operating income | 411 | 442 | 31 | +7.5% |
| Operating cash flow | 387 | 659 | 272 | +70.1% |
| Free cash flow | 194 | 462 | 269 | +138.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2022 | 709 | 64 | 9.0% | 54 | 226 | — | S100RS80 |
| FY ending May 2023 | 948 | 246 | 26.0% | 172 | 270 | 145 | S100UAY7 |
| FY ending May 2024 | 1,289 | 320 | 24.8% | 227 | 387 | 233 | S100WL3G |
| FY ending May 2025 | 1,638 | 411 | 25.1% | 282 | 387 | 194 | S100YYMC |
| FY ending May 2026 | 2,046 | 442 | 21.6% | 318 | 659 | 462 | S100YYMC |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥41.8M |
| Operating income per employee (consolidated) | ¥9M |
| Net income per employee (consolidated) | ¥6.5M |

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

| History | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 26 | 34 | 39 | 48 | 49 |
| Average salary (parent company) | — | ¥4.8M | ¥5.5M | ¥5.9M | ¥6.2M |
| Average age (parent company) | — | 35.7 years | 36.4 years | 36.5 years | 37.2 years |
| Average tenure (parent company) | — | 1.1 years | 1.9 years | 2.2 years | 2.8 years |

Year over year: Employees (consolidated) +2.1% · Revenue (consolidated) +24.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 659 | 32.2% | S100YYMC |
| Capital expenditure | 196 | 9.6% | S100YYMC |
| Free cash flow | 462 | 22.6% | 算出 |
| Investing cash flow | -196 | -9.6% | S100YYMC |
| Financing cash flow | -257 | -12.5% | S100YYMC |
| Share buyback | 139 | 6.8% | S100YYMC |
| Change in cash | 208 | 10.2% | S100YYMC |
| Cash and equivalents | 1,360 | 66.5% | S100YYMC |

## 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 May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 450 | 549 | 1,027 | 1,152 | 1,360 | S100UAY7, S100WL3G, S100YYMC |
| Total assets | 649 | 1,036 | 1,726 | 2,244 | 2,580 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Net assets | 100 | 273 | 617 | 902 | 1,087 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Share capital | 32 | 32 | 91 | 93 | 96 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Property, plant and equipment | 16 | 18 | 15 | 15 | 12 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Intangible assets excluding goodwill | — | 116 | 235 | 348 | 425 | S100UAY7, S100WL3G, S100YYMC |
| Investment securities | — | — | — | 20 | 20 | S100YYMC |
| Current assets | 623 | 883 | 1,452 | 1,831 | 2,082 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Current liabilities | 514 | 759 | 1,027 | 1,309 | 1,488 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Short-term borrowings | — | — | 30 | 30 | 30 | S100WL3G, S100YYMC |
| Long-term borrowings | 30 | — | 78 | 28 | — | S100RS80, S100WL3G, S100YYMC |
| Total liabilities | 549 | 764 | 1,109 | 1,342 | 1,493 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Equity attributable to owners of parent | 100 | 273 | 617 | 902 | 1,087 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Retained earnings | 37 | 210 | 437 | 718 | 1,036 | S100RS80, S100UAY7, S100WL3G, S100YYMC |
| Treasury stock | — | — | — | — | -138 | S100YYMC |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 53% | S100YYMC |
| Property, plant and equipment | 0% | S100YYMC |
| Intangibles and goodwill | 16% | S100YYMC |
| Investment securities | 1% | S100YYMC |
| Other assets | 30% | S100YYMC |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 58% | S100YYMC |
| Equity | 42% | S100YYMC |
| Other liabilities | 0% | S100YYMC |

### Balance sheet history

| Metric | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 649 | 1,036 | 1,726 | 2,244 | 2,580 |
| Equity | 100 | 273 | 617 | 902 | 1,087 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 450 | 549 | 1,027 | 1,152 | 1,360 |

## 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) | 0.6% | S100YYMC |
| Fixed assets ÷ total assets | 0.5% | S100YYMC |
| Goodwill ÷ parent equity | — | —, S100YYMC |

### 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) | 52.7% |
| Cash ÷ revenue | 66.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 149.0% |
| Cash vs. profit gap | 341 JPY mn (of net income 107.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 9.6% |
| Investing CF relative to operating CF | 29.8% |

## 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 | 7.7% | 1.09× | 8.4% | 6.48× | 54.3% | S100RS80 |
| 2023 | 18.2% | 1.12× | 20.5% | 4.52× | 92.5% | S100UAY7 |
| 2024 | 17.6% | 0.93× | 16.4% | 3.11× | 51.0% | S100WL3G |
| 2025 | 17.2% | 0.82× | 14.2% | 2.61× | 37.1% | S100YYMC |
| 2026 | 15.5% | 0.85× | 13.2% | 2.42× | 32.0% | S100YYMC |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 幾嶋 研三郎 | Major shareholder | 65.7% | 2026-05-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 6.1% | 2026-05-31 |
| 上赤 一馬 | Major shareholder | 3.9% | 2026-05-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 3.4% | 2026-05-31 |
| 株式会社としすみ | Major shareholder | 1.9% | 2026-05-31 |
| ＢＢＨ ＬＵＸ／ＢＲＯＷＮ ＢＲＯＴＨＥＲＳ ＨＡＲＲＩＭＡＮ （ＬＵＸＥＭＢＯＵＲＧ） ＳＣＡ ＣＵＳＴＯＤＩＡＮ ＦＯＲ ＳＭＤ－ＡＭ ＦＵＮＤＳ － ＤＳＢＩ ＪＡＰＡＮ ＥＱＵＩＴＹ ＳＭＡＬＬ ＣＡＰ ＡＢＳＯＬＵＴＥ ＶＡＬＵＥ （常任代理人 三井住友銀行） | Major shareholder | 1.0% | 2026-05-31 |
| ＲＥ ＦＵＮＤ １０７－ＣＬＩＥＮＴ ＡＣ （常任代理人 シティバンク、エヌ・エー東京支店） | Major shareholder | 0.7% | 2026-05-31 |
| 指田 恭平 | Major shareholder | 0.7% | 2026-05-31 |
| 楽天証券株式会社 | Major shareholder | 0.6% | 2026-05-31 |
| ＮＯＭＵＲＡ ＰＢ ＮＯＭＩＮＥＥＳ ＬＩＭＩＴＥＤ ＯＭＮＩＢＵＳ－ＭＡＲＧＩＮ（ＣＡＳＨＰＢ） （常任代理人 野村證券株式会社） | Major shareholder | 0.5% | 2026-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第12期(2025/06/01－2026/05/31) | S100YYMC | 2026-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YYMC,, |
| 有価証券報告書－第11期(2024/06/01－2025/05/31) | S100WL3G | 2025-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WL3G,, |
| 有価証券報告書－第10期(2023/06/01－2024/05/31) | S100UAY7 | 2024-08-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UAY7,, |
| 有価証券報告書－第9期(2022/06/01－2023/05/31) | S100RS80 | 2023-08-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RS80,, |

## 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).