# GLOBERIDE, 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71期(2025/04/01－2026/03/31) (S100YGZ1)
> Page: https://vizora.meequs.com/en/company/globeride
> Retrieved: 2026-09-30T20:25:04.091Z

## Company

Globeride, founded in 1958, is a company in Sporting Goods & Fitness listed on TSE Prime. It has 7,365 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GLOBERIDE, Inc. |
| Ticker | 7990 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7990.T) |
| Listing | TSE Prime |
| Head office | 東京都東久留米市前沢3丁目14番16号 |
| Representative (per filing) | 代表取締役社長執行役員 鈴木一成 |
| Founded | Jul 1958 |
| Share capital | ¥4.18B |
| Employees (consolidated) | 7,365 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.globeride.co.jp (https://www.globeride.co.jp/) |
| Corporate number | 5012701003630 |
| EDINET | E02382 |
| Industries (Vizora) | Sporting Goods & Fitness |

> Profile source: annual securities report (S100YGZ1, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Sporting Goods & Fitness (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 25 | 18 |
| Profitability | 42.5 | 20 |
| Cash conversion | 73.5 | 17 |
| Efficiency | 32.5 | 20 |

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 52% of Globeride's sales come from Japan, with Asia and Oceania and Europe making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +2.4% from the prior year, operating profit -0.1%.

## Company structure

- Segment revenue mix: Japan 52.5%、Asia and Oceania 23.4%、Europe 13.4%、America 10.8%
- Revenue → net income: ¥126956000000 → ¥5413000000
- Net income → operating cash flow: ¥5413000000 → ¥8033000000（difference ¥2620000000）
- Main uses of operating cash flow: CapEx ¥2856000000 / dividends ¥1952000000 / buybacks ¥2773000000
- Change in cash: ¥379000000
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 | ¥127B |  |
| Operating income | ¥6.5B | Margin 5.1% |
| Net income | ¥5.41B | Margin 4.3% |
| Free cash flow | ¥5.18B |  |
| Largest business | Japan | of segment revenue 52.5% |
| Employees (consolidated) | 7,365 |  |
| EPS | ¥108.87 |  |
| Book value per share | ¥1323.11 |  |
| Equity ratio | 54.1% |  |
| Shares outstanding | 22,800,000 |  |
| Treasury shares | 1,001,000 |  |
| Shareholders | 32,548 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 9.9% | Cash ÷ revenue 9.3% |
| Vs. industry median margin | -0.5 pp | Sporting Goods & Fitness |
| ROE | 11.0% | Derived from disclosed figures |
| ROA | 4.6% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.4× dividends
- FY2026, segment profit share differs by 20 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥100304000000 | ¥126956000000 | +26.6% |
| Operating income | ¥7405000000 | ¥6501000000 | -12.2% |
| Operating margin | 7.4% | 5.1% | -2.3 pp |
| Employees | 6,965 people | 7,365 people | +5.7% |
| Cash and equivalents | ¥9157000000 | ¥11850000000 | +29.4% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 52.5% |
| 日本 → 事業再編・廃止 | 12.6% |
| 米州 → 米州 | 8.0% |
| 欧州 → 欧州 | 10.6% |
| アジア ・ オセアニア → アジア ・ オセアニア | 16.4% |
| 新設・再編 → 米州 | 2.8% |
| 新設・再編 → 欧州 | 2.8% |
| 新設・再編 → アジア ・ オセアニア | 7.0% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +0.4% | ¥66596000000 | 8.5% | 2 |
| Asia and Oceania | 5 years | +12.6% | ¥29651000000 | 16.3% | 2 |
| Europe | 5 years | +9.9% | ¥17000000000 | 4.0% | 2 |
| America | 5 years | +11.3% | ¥13707000000 | -1.2% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 126,956 | 100.0% | S100YGZ1 |
| Cost of revenue | 78,587 | 61.9% | S100YGZ1 |
| Gross profit | 48,369 | 38.1% | S100YGZ1 |
| SG&A | 41,868 | 33.0% | S100YGZ1 |
| Operating income | 6,501 | 5.1% | S100YGZ1 |
| Ordinary income | 7,184 | 5.7% | S100YGZ1 |
| Pretax income | 7,188 | 5.7% | S100YGZ1 |
| Income tax | 1,775 | 1.4% | S100YGZ1 |
| Net income | 5,413 | 4.3% | S100YGZ1 |
| Net income attributable to owners | 5,409 | 4.3% | S100YGZ1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 62 |
| SG&A | 33 |
| Operating income | 5 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 38.1% → Operating margin 5.1% → Net margin 4.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +2.4%; Core profit growth: -0.1%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.04×
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 | 123,983 | 126,956 | 2,973 | +2.4% |
| Gross profit | 46,547 | 48,369 | 1,822 | +3.9% |
| Operating income | 6,508 | 6,501 | -7 | -0.1% |
| Net income attributable to owners | 4,783 | 5,409 | 626 | +13.1% |
| Operating cash flow | 2,042 | 8,033 | 5,991 | +293.4% |
| Free cash flow | -2,205 | 5,177 | 7,382 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 88,258 | 3,613 | 4.1% | 1,123 | 1,674 | -2,254 | S100LN0M |
| FY ending Mar 2021 | 100,304 | 7,405 | 7.4% | 4,797 | 15,842 | 12,054 | S100Q5NJ |
| FY ending Mar 2022 | 120,684 | 12,349 | 10.2% | 9,567 | 6,956 | 798 | S100R2MW |
| FY ending Mar 2023 | 134,583 | 12,125 | 9.0% | 9,188 | 4,158 | -118 | S100TPO4 |
| FY ending Mar 2024 | 126,008 | 7,496 | 5.9% | 5,582 | 12,405 | 6,369 | S100W2BX |
| FY ending Mar 2025 | 123,983 | 6,508 | 5.2% | 4,783 | 2,042 | -2,205 | S100YGZ1 |
| FY ending Mar 2026 | 126,956 | 6,501 | 5.1% | 5,409 | 8,033 | 5,177 | S100YGZ1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17.2M |
| Operating income per employee (consolidated) | ¥882.7K |
| Net income per employee (consolidated) | ¥734.4K |

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) | 7,517 | 7,722 | 6,765 | 6,994 | 7,365 |
| Average salary (parent company) | ¥6.7M | ¥6.7M | ¥7.2M | ¥7.2M | ¥7.4M |
| Average age (parent company) | 42.7 years | 42.8 years | 43.2 years | 43.0 years | 43.2 years |
| Average tenure (parent company) | 14.3 years | 14.2 years | 13.7 years | 14.0 years | 13.9 years |

Year over year: Employees (consolidated) +5.3% · Revenue (consolidated) +2.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 66,596 | 52.5% | 5,629 | 8.5% |
| America | 13,707 | 10.8% | -169 | -1.2% |
| Europe | 17,000 | 13.4% | 683 | 4.0% |
| Asia and Oceania | 29,651 | 23.4% | 4,846 | 16.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 52.5% | 50.4% | -2.0 | 8.5% |
| America | 10.8% | — | — | -1.2% |
| Europe | 13.4% | 6.1% | -7.3 | 4.0% |
| Asia and Oceania | 23.4% | 43.4% | 20.1 | 16.3% |

Loss-making segment (excluded from profit shares): America -169 JPY mn

Segment → industry: Asia and Oceania → Sporting Goods & Fitness / Europe → Sporting Goods & Fitness / America → Sporting Goods & Fitness / Japan → Sporting Goods & Fitness

## 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 | 8,033 | 6.3% | S100YGZ1 |
| Capital expenditure | 2,856 | 2.2% | S100YGZ1 |
| Free cash flow | 5,177 | 4.1% | 算出 |
| Investing cash flow | -2,992 | -2.4% | S100YGZ1 |
| Financing cash flow | -4,617 | -3.6% | S100YGZ1 |
| Dividends paid | 1,952 | 1.5% | S100YGZ1 |
| Share buyback | 2,773 | 2.2% | S100YGZ1 |
| Change in cash | 379 | 0.3% | S100YGZ1 |
| Cash and equivalents | 11,850 | 9.3% | S100YGZ1 |

## 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 | 7,149 | 12,107 | 12,031 | 11,470 | 11,850 | S100TPO4, S100W2BX, S100YGZ1 |
| Total assets | 90,682 | 109,034 | 108,717 | 113,957 | 119,631 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Net assets | 37,478 | 47,485 | 54,488 | 61,268 | 64,929 | S100TPO4, S100W2BX, S100YGZ1 |
| Share capital | 4,184 | 4,184 | 4,184 | 4,184 | 4,184 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Trade receivables | 11,140 | 12,956 | 13,995 | 13,848 | 15,581 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Property, plant and equipment | 20,129 | 23,156 | 26,631 | 27,621 | 25,902 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Intangible assets excluding goodwill | 1,597 | 1,725 | 1,505 | 1,511 | 1,478 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Investment securities | 4,952 | 5,059 | 6,476 | 6,692 | 9,345 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Current assets | 59,126 | 73,738 | 69,110 | 73,233 | 78,086 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Current liabilities | 40,996 | 44,690 | 33,651 | 29,118 | 32,136 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Trade payables | 6,235 | 6,151 | 4,897 | 5,750 | 5,700 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Short-term borrowings | 15,688 | 18,414 | 12,682 | 13,174 | 15,173 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Long-term borrowings | 5,017 | 9,599 | 11,645 | 14,609 | 13,353 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Total liabilities | 53,204 | 61,548 | 54,229 | 52,689 | 54,702 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Non-controlling interests | 168 | 189 | 226 | 248 | 256 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Equity attributable to owners of parent | 33,675 | 41,503 | 45,609 | 48,689 | 49,397 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Retained earnings | 30,379 | 38,190 | 42,279 | 45,338 | 46,868 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |
| Treasury stock | -889 | -884 | -881 | -874 | -1,654 | S100R2MW, S100TPO4, S100W2BX, S100YGZ1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YGZ1 |
| Receivables | 13% | S100YGZ1 |
| Property, plant and equipment | 22% | S100YGZ1 |
| Intangibles and goodwill | 1% | S100YGZ1 |
| Investment securities | 8% | S100YGZ1 |
| Other assets | 46% | S100YGZ1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YGZ1 |
| Other liabilities | 41% | S100YGZ1 |
| Equity | 54% | S100YGZ1 |

### 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 | 90,682 | 109,034 | 108,717 | 113,957 | 119,631 |
| Equity | 37,478 | 47,485 | 54,488 | 61,268 | 64,929 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,149 | 12,107 | 12,031 | 11,470 | 11,850 |

## 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) | 20.4% | S100YGZ1 |
| Fixed assets ÷ total assets | 21.7% | S100YGZ1 |
| Goodwill ÷ parent equity | — | —, S100YGZ1 |

### 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) | 9.9% |
| Cash ÷ revenue | 9.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 123.6% |
| Cash vs. profit gap | 2,624 JPY mn (of net income 48.5%) |
| Shareholder returns / net income | 87.4% |
| Shareholder returns / FCF | 91.3% |
| Shareholder payments — dividends / net income | 36.1% |
| Shareholder payments — dividends / FCF | 37.7% |
| CapEx intensity (capex ÷ revenue) | 2.2% |
| Investing CF relative to operating CF | 37.2% |

## 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 | 7.9% | 1.33× | 10.6% | 2.69× | 28.4% | S100R2MW |
| 2023 | 6.8% | 1.35× | 9.2% | 2.66× | 24.4% | S100TPO4 |
| 2024 | 4.4% | 1.16× | 5.1% | 2.50× | 12.8% | S100W2BX |
| 2025 | 3.9% | 1.11× | 4.3% | 2.36× | 10.1% | S100YGZ1 |
| 2026 | 4.3% | 1.09× | 4.6% | 2.38× | 11.0% | S100YGZ1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 8.8% | 2026-03-31 |
| 丸紅株式会社 | Major shareholder | 5.3% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 5.2% | 2026-03-31 |
| 住友生命保険相互会社（常任代理人 株式会社日本カストディ銀行） | Major shareholder | 4.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 4.1% | 2026-03-31 |
| グローブライド取引先持株会 | Major shareholder | 3.7% | 2026-03-31 |
| 日本生命保険相互会社（常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 2.0% | 2026-03-31 |
| 株式会社みずほ銀行（常任代理人 株式会社日本カストディ銀行） | Major shareholder | 2.0% | 2026-03-31 |
| グローブライド従業員持株会 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（金銭信託課税口） | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第71期(2025/04/01－2026/03/31) | S100YGZ1 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGZ1,, |
| 有価証券報告書－第70期(2024/04/01－2025/03/31) | S100W2BX | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2BX,, |
| 有価証券報告書－第69期(2023/04/01－2024/03/31) | S100TPO4 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPO4,, |
| 有価証券報告書－第68期(2022/04/01－2023/03/31) | S100R2MW | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2MW,, |
| 訂正有価証券報告書－第67期(2021/04/01－2022/03/31) | S100Q5NJ | 2023-02-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Q5NJ,, |
| 有価証券報告書－第66期(令和2年4月1日－令和3年3月31日) | S100LN0M | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN0M,, |

## 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).