# 株式会社ひとまいる: 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44期(2025/04/01－2026/03/31) (S100YIAO)
> Page: https://vizora.meequs.com/en/company/hitomile
> Retrieved: 2026-09-30T21:34:34.352Z

## Company

株式会社ひとまいる, founded in 1982, is a company in Specialty Trading & Wholesale listed on TSE Standard. It has 2,028 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | HitoMile Co., Ltd. (旧英訳名 Kakuyasu Group Co., Ltd.) |
| Ticker | 7686 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7686.T) |
| Listing | TSE Standard |
| Head office | 東京都北区豊島二丁目3番1号 |
| Representative (per filing) | 代表取締役社長 兼 CEO 前垣内 洋行 |
| Founded | Jun 1982 |
| Share capital | ¥85M |
| Employees (consolidated) | 2,028 |
| Average salary (parent only) | ¥6.3M |
| Fiscal year end | March |
| Website | www.hitomile.co.jp (https://www.hitomile.co.jp/) |
| Corporate number | 2011501000964 |
| EDINET | E35334 |
| Industries (Vizora) | Specialty Trading & Wholesale, Supermarkets |

> Profile source: annual securities report (S100YIAO, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 88 | 179 |
| Profitability | 21.9 | 185 |
| Cash conversion | 69 | 179 |
| Efficiency | 97.6 | 185 |

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 59% of 株式会社ひとまいる's sales come from Quick Delivery, with Route Delivery and Store Sales making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +4.0% from the prior year, operating profit +10.7%.

## Company structure

- Segment revenue mix: Quick Delivery 59.3%、Route Delivery 29.3%、Store Sales 10.1%、Other 1.3%
- Revenue → net income: ¥139837000000 → ¥1175000000
- Net income → operating cash flow: ¥1175000000 → ¥2604000000（difference ¥1429000000）
- Main uses of operating cash flow: CapEx ¥2326000000 / dividends ¥563000000 / buybacks ¥29000000
- Change in cash: ¥50000000
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 | ¥139.8B |  |
| Operating income | ¥1.97B | Margin 1.4% |
| Net income | ¥1.18B | Margin 0.8% |
| Free cash flow | ¥278M |  |
| Largest business | Quick Delivery | of segment revenue 59.3% |
| Employees (consolidated) | 2,028 |  |
| EPS | ¥5.08 |  |
| Diluted EPS | ¥4.99 |  |
| Book value per share | ¥189.96 |  |
| Equity ratio | 13.0% |  |
| Shares outstanding | 29,146,200 |  |
| Treasury shares | 500 |  |
| Shareholders | 12,014 |  |
| Average salary (parent only) | ¥6.3M | Filing company only |
| Cash ratio | 7.5% | Cash ÷ revenue 2.0% |
| Vs. industry median margin | -1.5 pp | Specialty Trading & Wholesale |
| ROE | 26.3% | Derived from disclosed figures |
| ROA | 3.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.2× net income
- FY2026, parent-company salary changed +20% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥80226000000 | ¥139837000000 | +74.3% |
| Operating income | ¥-2602000000 | ¥1971000000 | — |
| Operating margin | -3.2% | 1.4% | +4.7 pp |
| Employees | 1,653 people | 2,028 people | +22.7% |
| Cash and equivalents | ¥2525000000 | ¥2859000000 | +13.2% |

### 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 |
| --- | ---: |
| 新設・再編 → 時間帯配達 | 59.3% |
| 新設・再編 → ルート配達 | 29.3% |
| 新設・再編 → 店頭販売 | 10.1% |
| 新設・再編 → その他 | 1.3% |

Segment revenue source references: 4 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Quick Delivery | 2 years | +5.6% | ¥82939000000 | 1.9% | 2 |
| Route Delivery | 2 years | +6.4% | ¥41014000000 | 1.2% | 2 |
| Store Sales | 2 years | -7.7% | ¥14104000000 | 6.4% | 2 |
| Other | 2 years | -11.3% | ¥1779000000 | 16.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 139,837 | 100.0% | S100YIAO |
| Cost of revenue | 105,830 | 75.7% | S100YIAO |
| Gross profit | 34,007 | 24.3% | S100YIAO |
| SG&A | 32,035 | 22.9% | S100YIAO |
| Operating income | 1,971 | 1.4% | S100YIAO |
| Ordinary income | 1,943 | 1.4% | S100YIAO |
| Pretax income | 1,318 | 0.9% | S100YIAO |
| Income tax | 142 | 0.1% | S100YIAO |
| Net income | 1,175 | 0.8% | S100YIAO |
| Net income attributable to owners | 1,175 | 0.8% | S100YIAO |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 23 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 24.3% → Operating margin 1.4% → Net margin 0.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.0%; Core profit growth: +10.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.70×
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 | 134,514 | 139,837 | 5,323 | +4.0% |
| Gross profit | 31,065 | 34,007 | 2,942 | +9.5% |
| Operating income | 1,781 | 1,971 | 190 | +10.7% |
| Net income attributable to owners | 536 | 1,175 | 639 | +119.2% |
| Operating cash flow | 2,585 | 2,604 | 19 | +0.7% |
| Free cash flow | 54 | 278 | 224 | +414.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 108,562 | 1,259 | 1.2% | 513 | 1,945 | 766 | S100LS7D |
| FY ending Mar 2021 | 80,226 | -2,602 | -3.2% | -1,601 | -1,634 | -2,046 | S100OKJ6 |
| FY ending Mar 2022 | 85,514 | -3,328 | -3.9% | -2,808 | -2,442 | -3,612 | S100R4RZ |
| FY ending Mar 2023 | 114,960 | 803 | 0.7% | 609 | 2,531 | 1,357 | S100TWNJ |
| FY ending Mar 2024 | 129,406 | 2,867 | 2.2% | 1,595 | 2,785 | 1,576 | S100W5XS |
| FY ending Mar 2025 | 134,514 | 1,781 | 1.3% | 536 | 2,585 | 54 | S100YIAO |
| FY ending Mar 2026 | 139,837 | 1,971 | 1.4% | 1,175 | 2,604 | 278 | S100YIAO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥69M |
| Operating income per employee (consolidated) | ¥971.9K |
| Net income per employee (consolidated) | ¥579.4K |

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) | 1,578 | 1,592 | 1,804 | 1,992 | 2,028 |
| Average salary (parent company) | ¥5.3M | ¥6.5M | ¥6.1M | ¥6.1M | ¥6.3M |
| Average age (parent company) | 41.0 years | 44.0 years | 42.7 years | 42.8 years | 41.9 years |
| Average tenure (parent company) | 9.5 years | 10.5 years | 9.7 years | 9.2 years | 10.4 years |

Year over year: Employees (consolidated) +1.8% · Revenue (consolidated) +4.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Quick Delivery | 82,939 | 59.3% | 1,604 | 1.9% |
| Route Delivery | 41,014 | 29.3% | 482 | 1.2% |
| Store Sales | 14,104 | 10.1% | 905 | 6.4% |
| Other | 1,779 | 1.3% | 285 | 16.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Quick Delivery | 59.3% | 49.0% | -10.3 | 1.9% |
| Route Delivery | 29.3% | 14.7% | -14.6 | 1.2% |
| Store Sales | 10.1% | 27.6% | 17.5 | 6.4% |
| Other | 1.3% | 8.7% | 7.4 | 16.0% |

Segment → industry: Route Delivery → Specialty Trading & Wholesale / Quick Delivery → Specialty Trading & Wholesale / Store Sales → Supermarkets

## 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 | 2,604 | 1.9% | S100YIAO |
| Capital expenditure | 2,326 | 1.7% | S100YIAO |
| Free cash flow | 278 | 0.2% | 算出 |
| Investing cash flow | -3,197 | -2.3% | S100YIAO |
| Financing cash flow | 643 | 0.5% | S100YIAO |
| Dividends paid | 563 | 0.4% | S100YIAO |
| Share buyback | 29 | 0.0% | S100YIAO |
| Change in cash | 50 | 0.0% | S100YIAO |
| Cash and equivalents | 2,859 | 2.0% | S100YIAO |

## 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 | 2,748 | 2,709 | 3,151 | 2,809 | 2,859 | S100TWNJ, S100W5XS, S100YIAO |
| Total assets | 28,541 | 33,086 | 33,953 | 36,059 | 38,366 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Net assets | 2,307 | 2,815 | 4,116 | 4,230 | 5,002 | S100TWNJ, S100W5XS, S100YIAO |
| Share capital | 38 | 47 | 64 | 70 | 85 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Trade receivables | 5,586 | 8,884 | 9,818 | — | — | S100R4RZ, S100TWNJ |
| Property, plant and equipment | 7,160 | 7,511 | 7,255 | 7,848 | 7,995 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Intangible assets excluding goodwill | 2,050 | 1,777 | 1,710 | 2,523 | 3,241 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Goodwill | 1,325 | 1,165 | 993 | 978 | 800 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Investment securities | 293 | 324 | 361 | 380 | 539 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Current assets | 15,540 | 19,462 | 21,423 | 22,248 | 21,973 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Current liabilities | 21,224 | 25,810 | 26,116 | 27,003 | 26,162 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Short-term borrowings | 7,645 | 7,205 | 6,382 | 4,791 | 3,104 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Long-term borrowings | 4,080 | 3,261 | 2,231 | 3,081 | 5,311 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Total liabilities | 26,233 | 30,271 | 29,837 | 31,829 | 33,364 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Equity attributable to owners of parent | 2,229 | 2,692 | 3,969 | 4,081 | 4,839 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Retained earnings | -1,025 | -601 | 561 | 567 | 1,161 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |
| Treasury stock | 0 | -307 | -230 | -135 | 0 | S100R4RZ, S100TWNJ, S100W5XS, S100YIAO |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 7% | S100YIAO |
| Property, plant and equipment | 21% | S100YIAO |
| Intangibles and goodwill | 11% | S100YIAO |
| Investment securities | 1% | S100YIAO |
| Other assets | 60% | S100YIAO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 87% | S100YIAO |
| Equity | 13% | S100YIAO |

### 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 | 28,541 | 33,086 | 33,953 | 36,059 | 38,366 |
| Equity | 2,307 | 2,815 | 4,116 | 4,230 | 5,002 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,748 | 2,709 | 3,151 | 2,809 | 2,859 |

## 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) | 5.7% | S100YIAO |
| Fixed assets ÷ total assets | 20.8% | S100YIAO |
| Goodwill ÷ parent equity | 16.5% | S100YIAO |

Goodwill over 4 years: 1,325 → 800 JPY; total investing cash flow: -8,611 JPY. This does not imply causation.

### 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) | 7.5% |
| Cash ÷ revenue | 2.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 132.1% |
| Cash vs. profit gap | 1,429 JPY mn (of net income 121.6%) |
| Shareholder returns / net income | 50.4% |
| Shareholder returns / FCF | 212.9% |
| Shareholder payments — dividends / net income | 47.9% |
| Shareholder payments — dividends / FCF | 202.5% |
| CapEx intensity (capex ÷ revenue) | 1.7% |
| Investing CF relative to operating CF | 122.8% |

## 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 | — | —× | -9.8% | —× | — | S100R4RZ |
| 2023 | 0.5% | 3.73× | 2.0% | 12.52× | 24.8% | S100TWNJ |
| 2024 | 1.2% | 3.86× | 4.8% | 10.06× | 47.9% | S100W5XS |
| 2025 | 0.4% | 3.84× | 1.5% | 8.70× | 13.3% | S100YIAO |
| 2026 | 0.8% | 3.76× | 3.2% | 8.34× | 26.3% | S100YIAO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ＳＫＹグループホールディングス | Major shareholder | 46.8% | 2026-03-31 |
| 三菱食品株式会社 | Major shareholder | 7.7% | 2026-03-31 |
| 伊藤忠食品株式会社 | Major shareholder | 7.7% | 2026-03-31 |
| カクヤス従業員持株会 | Major shareholder | 6.0% | 2026-03-31 |
| 麒麟麦酒株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| サッポロビール株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| アサヒビール株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| サントリー株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| 松井 隆行 | Major shareholder | 1.3% | 2026-03-31 |
| 吉川 朋孝 | Major shareholder | 0.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第44期(2025/04/01－2026/03/31) | S100YIAO | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YIAO,, |
| 有価証券報告書－第43期(2024/04/01－2025/03/31) | S100W5XS | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5XS,, |
| 有価証券報告書－第42期(2023/04/01－2024/03/31) | S100TWNJ | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWNJ,, |
| 有価証券報告書－第41期(2022/04/01－2023/03/31) | S100R4RZ | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4RZ,, |
| 有価証券報告書－第40期(令和3年4月1日－令和4年3月31日) | S100OKJ6 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKJ6,, |
| 有価証券報告書－第39期(令和2年4月1日－令和3年3月31日) | S100LS7D | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LS7D,, |

## 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).