# GREENS CO.,LTD.: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第63期(2025/07/01－2026/06/30) (S100Z3CG)
> Page: https://vizora.meequs.com/en/company/greens
> Retrieved: 2026-09-30T20:20:49.350Z

## Company

Greens, founded in 1964, is a company in Hotels & Inns listed on TSE Standard. It has 898 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GREENS CO.,LTD. |
| Ticker | 6547 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6547.T) |
| Listing | TSE Standard |
| Head office | 三重県四日市市浜田町5番3号 |
| Representative (per filing) | 代表取締役社長 村木 雄哉 |
| Founded | Jan 1964 |
| Share capital | ¥100M |
| Employees (consolidated) | 898 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | June |
| Website | www.kk-greens.jp (https://www.kk-greens.jp/) |
| Corporate number | 5190001014736 |
| EDINET | E32988 |
| Industries (Vizora) | Hotels & Inns |

> Profile source: annual securities report (S100Z3CG, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Hotels & Inns (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 78.1 | 16 |
| Profitability | 67.6 | 17 |
| Cash conversion | 39.3 | 14 |
| Efficiency | 97.1 | 17 |

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)

- Greens brought in ¥54B in revenue.
- Out of every ¥100 of sales, about ¥13 is left as operating profit.
- Revenue changed +8.8% from the prior year, operating profit +10.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥53998000000 → ¥4997000000
- Net income → operating cash flow: ¥4997000000 → ¥8229000000（difference ¥3232000000）
- Main uses of operating cash flow: CapEx ¥3427000000 / dividends ¥560000000 / buybacks ¥2054000000
- Change in cash: ¥1046000000
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 | ¥54B |  |
| Operating income | ¥6.96B | Margin 12.9% |
| Net income | ¥5B | Margin 9.3% |
| Free cash flow | ¥4.8B |  |
| Employees (consolidated) | 898 |  |
| EPS | ¥356.93 |  |
| Book value per share | ¥912.8 |  |
| Equity ratio | 35.5% |  |
| Shares outstanding | 13,878,263 |  |
| Treasury shares | 143,700 |  |
| Shareholders | 6,396 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 31.0% | Cash ÷ revenue 20.5% |
| Vs. industry median margin | +2.2 pp | Hotels & Inns |
| ROE | 44.1% | Derived from disclosed figures |
| ROA | 15.4% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 3.7× dividends
- FY2026, revenue is 2.1× its level five years ago
- FY2026, parent-company salary changed +35% over five years

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥15711294000 | ¥53998000000 | +243.7% |
| Operating income | ¥-8573474000 | ¥6964000000 | — |
| Operating margin | -54.6% | 12.9% | +67.5 pp |
| Employees | 705 people | 898 people | +27.4% |
| Cash and equivalents | ¥3881696000 | ¥11059000000 | +184.9% |

### Change in segment revenue mix

Span: FY ending Jun 2021 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 53,998 | 100.0% | S100Z3CG |
| Cost of revenue | 36,048 | 66.8% | S100Z3CG |
| Gross profit | 17,949 | 33.2% | S100Z3CG |
| SG&A | 10,985 | 20.3% | S100Z3CG |
| Operating income | 6,964 | 12.9% | S100Z3CG |
| Ordinary income | 6,899 | 12.8% | S100Z3CG |
| Pretax income | 7,136 | 13.2% | S100Z3CG |
| Income tax | 2,138 | 4.0% | S100Z3CG |
| Net income | 4,997 | 9.3% | S100Z3CG |
| Net income attributable to owners | 4,997 | 9.3% | S100Z3CG |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 67 |
| SG&A | 20 |
| Operating income | 13 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 33.2% → Operating margin 12.9% → Net margin 9.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.8%; Core profit growth: +10.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.19×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 49,645 | 53,998 | 4,353 | +8.8% |
| Gross profit | 16,453 | 17,949 | 1,496 | +9.1% |
| Operating income | 6,306 | 6,964 | 658 | +10.4% |
| Net income attributable to owners | 5,260 | 4,997 | -263 | -5.0% |
| Operating cash flow | 7,063 | 8,229 | 1,166 | +16.5% |
| Free cash flow | 6,162 | 4,802 | -1,360 | -22.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 22,910 | -3,457 | -15.1% | -4,335 | -4,591 | -5,321 | S100MH9C |
| FY ending Jun 2021 | 15,711 | -8,573 | -54.6% | -8,803 | -7,617 | -8,269 | S100P94I |
| FY ending Jun 2022 | 25,437 | -2,158 | -8.5% | -2,179 | -1,030 | -3,352 | S100RXGS |
| FY ending Jun 2023 | 36,439 | 3,697 | 10.1% | 4,191 | 4,629 | 3,829 | S100UF4B |
| FY ending Jun 2024 | 40,969 | 5,019 | 12.3% | 4,888 | 6,013 | 5,353 | S100WQPA |
| FY ending Jun 2025 | 49,645 | 6,306 | 12.7% | 5,260 | 7,063 | 6,162 | S100Z3CG |
| FY ending Jun 2026 | 53,998 | 6,964 | 12.9% | 4,997 | 8,229 | 4,802 | S100Z3CG |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥60.1M |
| Operating income per employee (consolidated) | ¥7.8M |
| Net income per employee (consolidated) | ¥5.6M |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 671 | 678 | 824 | 857 | 898 |
| Average salary (parent company) | ¥4M | ¥4.8M | ¥5M | ¥5.1M | ¥5.4M |
| Average age (parent company) | 38.5 years | 39.1 years | 38.7 years | 38.9 years | 39.3 years |
| Average tenure (parent company) | 7.6 years | 7.5 years | 6.5 years | 6.9 years | 7.3 years |

Year over year: Employees (consolidated) +4.8% · Revenue (consolidated) +8.8%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 8,229 | 15.2% | S100Z3CG |
| Capital expenditure | 3,427 | 6.3% | S100Z3CG |
| Free cash flow | 4,802 | 8.9% | 算出 |
| Investing cash flow | -3,899 | -7.2% | S100Z3CG |
| Financing cash flow | -3,283 | -6.1% | S100Z3CG |
| Dividends paid | 560 | 1.0% | S100Z3CG |
| Share buyback | 2,054 | 3.8% | S100Z3CG |
| Change in cash | 1,046 | 1.9% | S100Z3CG |
| Cash and equivalents | 11,059 | 20.5% | S100Z3CG |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 10,015 | 6,727 | 7,720 | 10,013 | 11,059 | S100UF4B, S100WQPA, S100Z3CG |
| Total assets | 25,933 | 23,786 | 26,614 | 29,405 | 35,674 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Net assets | 1,347 | 5,367 | 7,824 | 10,177 | 12,668 | S100UF4B, S100WQPA, S100Z3CG |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Property, plant and equipment | 6,636 | 6,806 | 6,809 | 7,130 | 11,761 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Intangible assets excluding goodwill | 141 | 109 | 136 | 192 | 330 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Investment securities | 60 | 76 | 117 | 121 | 310 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Current assets | 13,160 | 9,992 | 11,462 | 14,322 | 15,976 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Current liabilities | 16,583 | 7,467 | 8,649 | 7,831 | 10,071 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Short-term borrowings | 9,600 | 2,600 | 2,600 | — | — | S100RXGS, S100UF4B, S100WQPA |
| Long-term borrowings | 7,158 | 10,227 | 9,402 | 10,232 | 9,639 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Total liabilities | 24,586 | 18,419 | 18,789 | 19,228 | 23,005 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Equity attributable to owners of parent | 1,354 | 5,363 | 7,795 | 10,148 | 12,517 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Retained earnings | -2,170 | 2,021 | 6,534 | 10,404 | 12,758 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |
| Treasury stock | -9 | -8 | -9 | -355 | -341 | S100RXGS, S100UF4B, S100WQPA, S100Z3CG |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 31% | S100Z3CG |
| Property, plant and equipment | 33% | S100Z3CG |
| Intangibles and goodwill | 1% | S100Z3CG |
| Investment securities | 1% | S100Z3CG |
| Other assets | 34% | S100Z3CG |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 64% | S100Z3CG |
| Equity | 36% | S100Z3CG |
| Other liabilities | 0% | S100Z3CG |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 25,933 | 23,786 | 26,614 | 29,405 | 35,674 |
| Equity | 1,347 | 5,367 | 7,824 | 10,177 | 12,668 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 10,015 | 6,727 | 7,720 | 10,013 | 11,059 |

## 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) | 21.8% | S100Z3CG |
| Fixed assets ÷ total assets | 33.0% | S100Z3CG |
| Goodwill ÷ parent equity | — | —, S100Z3CG |

### 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) | 31.0% |
| Cash ÷ revenue | 20.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 118.2% |
| Cash vs. profit gap | 3,232 JPY mn (of net income 64.7%) |
| Shareholder returns / net income | 52.3% |
| Shareholder returns / FCF | 54.4% |
| Shareholder payments — dividends / net income | 11.2% |
| Shareholder payments — dividends / FCF | 11.7% |
| CapEx intensity (capex ÷ revenue) | 6.3% |
| Investing CF relative to operating CF | 47.4% |

## 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 | — | —× | -8.4% | —× | — | S100RXGS |
| 2023 | 11.5% | 1.47× | 16.9% | 7.40× | 124.8% | S100UF4B |
| 2024 | 11.9% | 1.63× | 19.4% | 3.83× | 74.3% | S100WQPA |
| 2025 | 10.6% | 1.77× | 18.8% | 3.12× | 58.6% | S100Z3CG |
| 2026 | 9.3% | 1.66× | 15.4% | 2.87× | 44.1% | S100Z3CG |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社新緑 | Major shareholder | 18.2% | 2026-06-30 |
| 株式会社ＴＭ | Major shareholder | 15.7% | 2026-06-30 |
| 村木 雄哉 | Major shareholder | 5.1% | 2026-06-30 |
| ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ）（常任代理人株式会社三菱ＵＦＪ銀行） | Major shareholder | 2.8% | 2026-06-30 |
| ＭＳＩＰ ＣＬＩＥＮＴ ＳＥＣＵＲＩＴＩＥＳ（常任代理人モルガン・スタンレーＭＵＦＧ証券株式会社） | Major shareholder | 2.3% | 2026-06-30 |
| ＢＢＨ ＣＯ ＦＯＲ ＡＲＣＵＳ ＪＡＰＡＮ ＶＡＬＵＥ ＦＵＮＤ（常任代理人株式会社三菱ＵＦＪ銀行） | Major shareholder | 2.1% | 2026-06-30 |
| 鈴木 麻祐 | Major shareholder | 2.1% | 2026-06-30 |
| 黒田 知佳 | Major shareholder | 2.1% | 2026-06-30 |
| 雨澤 佳世 | Major shareholder | 2.1% | 2026-06-30 |
| ＧＯＬＤＭＡＮ ＳＡＣＨＳ ＩＮＴＥＲＮＡＴＩＯＮＡＬ（常任代理人ゴールドマン・サックス証券株式会社） | Major shareholder | 1.7% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/07/01－2026/06/30) | S100Z3CG | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3CG,, |
| 有価証券報告書－第62期(2024/07/01－2025/06/30) | S100WQPA | 2025-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQPA,, |
| 有価証券報告書－第61期(2023/07/01－2024/06/30) | S100UF4B | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UF4B,, |
| 有価証券報告書－第60期(2022/07/01－2023/06/30) | S100RXGS | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RXGS,, |
| 有価証券報告書－第59期(令和3年7月1日－令和4年6月30日) | S100P94I | 2022-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P94I,, |
| 有価証券報告書－第58期(令和2年7月1日－令和3年6月30日) | S100MH9C | 2021-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MH9C,, |

## 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).