# Howtelevision,Inc: business model and financials

> Latest period: FY ending Jan 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第16期(2025/02/01－2026/01/31) (S100XVTU)
> Page: https://vizora.meequs.com/en/company/howtelevision
> Retrieved: 2026-09-30T21:33:59.647Z

## Company

Howtelevision, founded in 2010, is a company in HR & Staffing listed on TSE Standard. It has 78 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Howtelevision, Inc. |
| Ticker | 7064 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7064.T) |
| Listing | TSE Standard |
| Head office | 東京都港区六本木六丁目10番1号 六本木ヒルズ森タワー28F |
| Representative (per filing) | 代表取締役社長 音成 洋介 |
| Founded | Feb 2010 |
| Share capital | ¥10.1M |
| Employees (consolidated) | 78 |
| Average salary (parent only) | ¥8.5M |
| Fiscal year end | January |
| Website | howtelevision.co.jp (https://howtelevision.co.jp/) |
| Corporate number | 4011601015654 |
| EDINET | E34866 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100XVTU, filed 2026-04-28). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-01-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 57.4 | 88 |
| Cash conversion | 83.1 | 80 |
| Efficiency | 23.3 | 88 |

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)

- Howtelevision brought in ¥2.56B in revenue.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +18.1% from the prior year, operating profit -37.5%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥2558118000 → ¥96583000
- Net income → operating cash flow: ¥96583000 → ¥344637000（difference ¥248054000）
- Main uses of operating cash flow: CapEx ¥105906000 / dividends — / buybacks ¥92000
- Change in cash: ¥-80156000
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 | ¥2.56B |  |
| Operating income | ¥251.4M | Margin 9.8% |
| Net income | ¥96.6M | Margin 3.8% |
| Free cash flow | ¥238.7M |  |
| Employees (consolidated) | 78 |  |
| EPS | ¥62.22 |  |
| Diluted EPS | ¥61.28 |  |
| Book value per share | ¥550.66 |  |
| Equity ratio | 52.3% |  |
| Shares outstanding | 2,720,882 |  |
| Treasury shares | 3,300 |  |
| Shareholders | 437 |  |
| Average salary (parent only) | ¥8.5M | Filing company only |
| Cash ratio | 56.3% | Cash ÷ revenue 59.4% |
| Vs. industry median margin | +1.2 pp | HR & Staffing |
| ROE | 7.1% | Derived from disclosed figures |
| ROA | 3.8% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.6× net income
- FY2026, cash is 56% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Jan 2021 | FY ending Jan 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥868432000 | ¥2558118000 | — |
| Operating income | ¥-215005000 | ¥251403000 | — |
| Operating margin | -24.8% | 9.8% | +34.6 pp |
| Employees | 56 people | 78 people | — |
| Cash and equivalents | ¥311053000 | ¥1519770000 | — |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,558 | 100.0% | S100XVTU |
| Cost of revenue | 524 | 20.5% | S100XVTU |
| Gross profit | 2,034 | 79.5% | S100XVTU |
| SG&A | 1,782 | 69.7% | S100XVTU |
| Operating income | 251 | 9.8% | S100XVTU |
| Ordinary income | 248 | 9.7% | S100XVTU |
| Pretax income | 187 | 7.3% | S100XVTU |
| Income tax | 90 | 3.5% | S100XVTU |
| Net income | 97 | 3.8% | S100XVTU |
| Net income attributable to owners | 97 | 3.8% | S100XVTU |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 20 |
| SG&A | 70 |
| Operating income | 10 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 79.5% → Operating margin 9.8% → Net margin 3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +18.1%; Core profit growth: -37.5%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -2.08×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,167 | 2,558 | 391 | +18.1% |
| Gross profit | 1,779 | 2,034 | 255 | +14.3% |
| Operating income | 402 | 251 | -151 | -37.5% |
| Net income attributable to owners | 243 | 97 | -147 | -60.3% |
| Operating cash flow | 421 | 345 | -77 | -18.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jan 2020 | 835 | 91 | 10.9% | 46 | 101 | 42 | S100L8VG |
| FY ending Jan 2021 | 868 | -215 | -24.8% | -236 | -178 | -370 | S100NZ01 |
| FY ending Jan 2022 | 1,144 | 47 | 4.1% | 79 | 131 | 61 | S100QP8G |
| FY ending Jan 2023 | 1,543 | 396 | 25.7% | 283 | 469 | 399 | S100TAG0 |
| FY ending Jan 2024 | 1,842 | 407 | 22.1% | 301 | 418 | 308 | S100TAG0 |
| FY ending Jan 2025 | 2,167 | 402 | 18.6% | 243 | 421 | — | S100XVTU |
| FY ending Jan 2026 | 2,558 | 251 | 9.8% | 97 | 345 | 239 | S100XVTU |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥32.8M |
| Operating income per employee (consolidated) | ¥3.2M |
| Net income per employee (consolidated) | ¥1.2M |

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

| History | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 59 | 54 | 66 | 81 | 78 |
| Average salary (parent company) | ¥6.9M | ¥7M | ¥7.3M | ¥7.3M | ¥8.5M |
| Average age (parent company) | 33.9 years | 34.2 years | 34.8 years | 34.3 years | 35.5 years |
| Average tenure (parent company) | 2.3 years | 2.7 years | 2.8 years | 2.7 years | 3.3 years |

Year over year: Employees (consolidated) -3.7% · Revenue (consolidated) +18.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 345 | 13.5% | S100XVTU |
| Capital expenditure | 106 | 4.1% | S100XVTU |
| Free cash flow | 239 | 9.3% | 算出 |
| Investing cash flow | -210 | -8.2% | S100XVTU |
| Financing cash flow | -218 | -8.5% | S100XVTU |
| Share buyback | 0 | 0.0% | S100XVTU |
| Change in cash | -80 | -3.1% | S100XVTU |
| Cash and equivalents | 1,520 | 59.4% | S100XVTU |

## 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 Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 309 | 633 | 1,425 | 1,600 | 1,520 | S100TAG0, S100XVTU |
| Total assets | 787 | 1,108 | 1,910 | 2,355 | 2,702 | S100QP8G, S100TAG0, S100XVTU |
| Net assets | 387 | 740 | 1,045 | 1,314 | 1,431 | S100TAG0, S100XVTU |
| Share capital | 231 | 68 | 71 | 10 | 10 | S100QP8G, S100TAG0, S100XVTU |
| Property, plant and equipment | 110 | 99 | 92 | 80 | 368 | S100QP8G, S100TAG0, S100XVTU |
| Intangible assets excluding goodwill | 90 | 99 | 125 | 300 | 246 | S100QP8G, S100TAG0, S100XVTU |
| Goodwill | — | — | — | 155 | 71 | S100XVTU |
| Investment securities | — | — | 20 | — | — | S100TAG0 |
| Current assets | 453 | 800 | 1,560 | 1,843 | 1,833 | S100QP8G, S100TAG0, S100XVTU |
| Current liabilities | 381 | 359 | 450 | 634 | 1,045 | S100QP8G, S100TAG0, S100XVTU |
| Short-term borrowings | 120 | 70 | — | — | — | S100QP8G, S100TAG0 |
| Long-term borrowings | 10 | — | 407 | 398 | 225 | S100QP8G, S100TAG0, S100XVTU |
| Total liabilities | 400 | 368 | 865 | 1,041 | 1,271 | S100QP8G, S100TAG0, S100XVTU |
| Equity attributable to owners of parent | 384 | 739 | 1,045 | 1,314 | 1,411 | S100QP8G, S100TAG0, S100XVTU |
| Retained earnings | -73 | 210 | 510 | 754 | 850 | S100QP8G, S100TAG0, S100XVTU |
| Treasury stock | -0 | -0 | -1 | -0 | -0 | S100QP8G, S100TAG0, S100XVTU |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 56% | S100XVTU |
| Property, plant and equipment | 14% | S100XVTU |
| Intangibles and goodwill | 12% | S100XVTU |
| Other assets | 18% | S100XVTU |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 47% | S100XVTU |
| Equity | 53% | S100XVTU |

### Balance sheet history

| Metric | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 787 | 1,108 | 1,910 | 2,355 | 2,702 |
| Equity | 387 | 740 | 1,045 | 1,314 | 1,431 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 309 | 633 | 1,425 | 1,600 | 1,520 |

## 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) | 14.4% | S100XVTU |
| Fixed assets ÷ total assets | 13.6% | S100XVTU |
| Goodwill ÷ parent equity | 5.0% | S100XVTU |

### 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) | 56.3% |
| Cash ÷ revenue | 59.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 137.1% |
| Cash vs. profit gap | 248 JPY mn (of net income 256.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 4.1% |
| Investing CF relative to operating CF | 61.1% |

## 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 | 6.9% | 1.45× | 10.1% | 2.05× | 20.7% | S100QP8G |
| 2023 | 18.3% | 1.63× | 29.9% | 1.69× | 50.4% | S100TAG0 |
| 2024 | 16.3% | 1.22× | 19.9% | 1.69× | 33.7% | S100TAG0 |
| 2025 | 11.2% | 0.92× | 10.3% | 1.79× | 18.5% | S100XVTU |
| 2026 | 3.8% | 1.01× | 3.8% | 1.86× | 7.1% | S100XVTU |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 音成 洋介 | Major shareholder | 49.3% | 2026-01-31 |
| 音成 恵里 | Major shareholder | 9.9% | 2026-01-31 |
| 株式会社くふうカンパニーホールディングス | Major shareholder | 5.0% | 2026-01-31 |
| 株式会社SBI証券 | Major shareholder | 4.8% | 2026-01-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.4% | 2026-01-31 |
| 楽天証券株式会社共有口 | Major shareholder | 2.6% | 2026-01-31 |
| 宮崎 羅貴 | Major shareholder | 2.1% | 2026-01-31 |
| 薮谷 直樹 | Major shareholder | 2.0% | 2026-01-31 |
| 中村 得郎 | Major shareholder | 1.1% | 2026-01-31 |
| 野村證券株式会社 | Major shareholder | 1.1% | 2026-01-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第16期(2025/02/01－2026/01/31) | S100XVTU | 2026-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XVTU,, |
| 有価証券報告書－第15期(2024/02/01－2025/01/31) | S100VOJA | 2025-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VOJA,, |
| 有価証券報告書－第14期(2023/02/01－2024/01/31) | S100TAG0 | 2024-04-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TAG0,, |
| 訂正有価証券報告書－第13期(2022/02/01－2023/01/31) | S100QP8G | 2023-05-10 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QP8G,, |
| 有価証券報告書－第12期(令和3年2月1日－令和4年1月31日) | S100NZ01 | 2022-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NZ01,, |
| 有価証券報告書－第11期(令和2年2月1日－令和3年1月31日) | S100L8VG | 2021-04-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L8VG,, |

## 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).