# IBJ,Inc.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第20期(2025/01/01－2025/12/31) (S100XUID)
> Page: https://vizora.meequs.com/en/company/ibj
> Retrieved: 2026-09-30T20:48:16.199Z

## Company

IBJ, founded in 2006, is a company in Internet Services & Apps listed on TSE Prime. It has 1,469 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | IBJ,Inc. |
| Ticker | 6071 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6071.T) |
| Listing | TSE Prime |
| Head office | 東京都新宿区西新宿一丁目23番7号 |
| Representative (per filing) | 代表取締役社長 石坂 茂 |
| Founded | Feb 2006 |
| Share capital | ¥699.6M |
| Employees (consolidated) | 1,469 |
| Average salary (parent only) | ¥4.7M |
| Fiscal year end | December |
| Website | www.ibjapan.jp (https://www.ibjapan.jp/) |
| Corporate number | 9010001107009 |
| EDINET | E27066 |
| Industries (Vizora) | Internet Services & Apps, Non-life Insurance, Real Estate Brokerage & Management, Education, Weddings |

> Profile source: annual securities report (S100XUID, filed 2026-03-26). As of filing

## Five-axis industry profile

Primary industry: Weddings (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 21.4 | 7 |
| Profitability | 94.4 | 9 |
| Cash conversion | 5.6 | 9 |
| Efficiency | 38.9 | 9 |

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 47% of IBJ's sales come from Directly-Managed Lounge Business, with Franchise Business and KV Business making up much of the rest.
- Out of every ¥100 of sales, about ¥18 is left as operating profit.
- Revenue changed +13.7% from the prior year, operating profit +39.9%.

## Company structure

- Segment revenue mix: Directly-Managed Lounge Business 46.8%、Franchise Business 18.9%、KV Business 16.3%、Life Design Business 10.2%、Matching Business 7.7%
- Revenue → net income: ¥20172914000 → ¥2213465000
- Net income → operating cash flow: ¥2213465000 → ¥2649979000（difference ¥436514000）
- Main uses of operating cash flow: CapEx ¥563155000 / dividends ¥302004000 / buybacks —
- Change in cash: ¥695608000
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 | ¥20.2B |  |
| Operating income | ¥3.61B | Margin 17.9% |
| Net income | ¥2.08B | Margin 10.3% |
| Free cash flow | ¥2.09B |  |
| Largest business | Directly-Managed Lounge Business | of segment revenue 46.8% |
| Employees (consolidated) | 1,469 |  |
| EPS | ¥47.48 |  |
| Book value per share | ¥256.57 |  |
| Equity ratio | 31.3% |  |
| Shares outstanding | 42,000,000 |  |
| Treasury shares | 4,128,400 |  |
| Shareholders | 5,331 |  |
| Average salary (parent only) | ¥4.7M | Filing company only |
| Cash ratio | 15.6% | Cash ÷ revenue 25.1% |
| Vs. industry median margin | +9.8 pp | Weddings |
| ROE | 22.1% | Derived from disclosed figures |
| ROA | 8.1% | Derived from disclosed figures |

## Notable figures

- FY2025, segment profit share differs by 26 points

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13072004000 | ¥20172914000 | +54.3% |
| Operating income | ¥1620252000 | ¥3608697000 | +122.7% |
| Operating margin | 12.4% | 17.9% | +5.5 pp |
| Employees | 679 people | 1,469 people | +116.3% |
| Cash and equivalents | ¥5953658000 | ¥5069443000 | -14.9% |

### Change in segment revenue mix

Span: FY ending Dec 2020 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 婚活事業 → 事業再編・廃止 | 85.3% |
| ライフデザイン事業 → ライフデザイン事業 | 10.2% |
| ライフデザイン事業 → 事業再編・廃止 | 4.6% |
| 新設・再編 → 加盟店事業 | 18.9% |
| 新設・再編 → 直営店事業 | 46.8% |
| 新設・再編 → マッチング事業 | 7.7% |
| 新設・再編 → KV事業 | 16.3% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Directly-Managed Lounge Business | 4 years | +8.5% | ¥9444873000 | 20.6% | 2 |
| Franchise Business | 4 years | +17.4% | ¥3820420000 | 67.0% | 2 |
| KV Business | — | — | ¥3292626000 | 11.4% | 2 |
| Life Design Business | 5 years | +1.3% | ¥2054373000 | 29.1% | 2 |
| Matching Business | 4 years | -20.5% | ¥1560621000 | 15.4% | 2 |

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 20,173 | 100.0% | S100XUID |
| Cost of revenue | 1,511 | 7.5% | S100XUID |
| Gross profit | 18,662 | 92.5% | S100XUID |
| SG&A | 15,053 | 74.6% | S100XUID |
| Operating income | 3,609 | 17.9% | S100XUID |
| Ordinary income | 3,471 | 17.2% | S100XUID |
| Pretax income | 3,286 | 16.3% | S100XUID |
| Income tax | 1,072 | 5.3% | S100XUID |
| Net income | 2,213 | 11.0% | S100XUID |
| Net income attributable to owners | 2,077 | 10.3% | S100XUID |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 7 |
| SG&A | 75 |
| Operating income | 18 |
| (Ref.) Net income | 10 |

### Margin funnel

Gross margin 92.5% → Operating margin 17.9% → Net margin 10.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +13.7%; Core profit growth: +39.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.91×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 17,740 | 20,173 | 2,433 | +13.7% |
| Gross profit | 16,463 | 18,662 | 2,199 | +13.4% |
| Operating income | 2,579 | 3,609 | 1,030 | +39.9% |
| Net income attributable to owners | 1,524 | 2,077 | 554 | +36.3% |
| Operating cash flow | 1,309 | 2,650 | 1,341 | +102.4% |
| Free cash flow | 862 | 2,087 | 1,225 | +142.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 15,282 | 2,339 | 15.3% | 1,523 | 2,461 | 2,336 | S100L2U2 |
| FY ending Dec 2020 | 13,072 | 1,620 | 12.4% | 686 | 1,043 | 695 | S100NR8I |
| FY ending Dec 2021 | 14,081 | 1,516 | 10.8% | 1,054 | 1,056 | 422 | S100QFUQ |
| FY ending Dec 2022 | 14,717 | 1,993 | 13.5% | 1,494 | 2,140 | 1,363 | S100T3ZH |
| FY ending Dec 2023 | 17,649 | 2,231 | 12.6% | 1,629 | 3,518 | 1,015 | S100VHPW |
| FY ending Dec 2024 | 17,740 | 2,579 | 14.5% | 1,524 | 1,309 | 862 | S100XUID |
| FY ending Dec 2025 | 20,173 | 3,609 | 17.9% | 2,077 | 2,650 | 2,087 | S100XUID |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥13.7M |
| Operating income per employee (consolidated) | ¥2.5M |
| Net income per employee (consolidated) | ¥1.4M |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 695 | 780 | 923 | 925 | 1,469 |
| Average salary (parent company) | ¥4.4M | ¥4.7M | ¥4.3M | ¥4.6M | ¥4.7M |
| Average age (parent company) | 34.7 years | 34.3 years | 34.0 years | 34.0 years | 34.1 years |
| Average tenure (parent company) | 4.0 years | 4.0 years | 4.1 years | 4.6 years | 5.7 years |

Year over year: Employees (consolidated) +58.8% · Revenue (consolidated) +13.7%

## Segments（FY ending Dec 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Franchise Business | 3,820 | 18.9% | 2,560 | 67.0% |
| Directly-Managed Lounge Business | 9,445 | 46.8% | 1,941 | 20.6% |
| Matching Business | 1,561 | 7.7% | 240 | 15.4% |
| Life Design Business | 2,054 | 10.2% | 598 | 29.1% |
| KV Business | 3,293 | 16.3% | 375 | 11.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Franchise Business | 18.9% | 44.8% | 25.9 | 67.0% |
| Directly-Managed Lounge Business | 46.8% | 34.0% | -12.8 | 20.6% |
| Matching Business | 7.7% | 4.2% | -3.5 | 15.4% |
| Life Design Business | 10.2% | 10.5% | 0.3 | 29.1% |
| KV Business | 16.3% | 6.6% | -9.8 | 11.4% |

Segment → industry: Matching Business → Internet Services & Apps / Life Design Business → Non-life Insurance / Life Design Business → Real Estate Brokerage & Management / KV Business → Education / Matching Business → Weddings / Directly-Managed Lounge Business → Weddings / Franchise Business → Weddings

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,650 | 13.1% | S100XUID |
| Capital expenditure | 563 | 2.8% | S100XUID |
| Free cash flow | 2,087 | 10.3% | 算出 |
| Investing cash flow | -3,264 | -16.2% | S100XUID |
| Financing cash flow | 1,310 | 6.5% | S100XUID |
| Dividends paid | 302 | 1.5% | S100XUID |
| Change in cash | 696 | 3.4% | S100XUID |
| Cash and equivalents | 5,069 | 25.1% | S100XUID |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,362 | 3,840 | 4,805 | 4,374 | 5,069 | S100T3ZH, S100VHPW, S100XUID |
| Total assets | 13,315 | 13,821 | 18,120 | 18,466 | 32,525 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Net assets | 6,623 | 7,964 | 8,024 | 8,970 | 11,923 | S100T3ZH, S100VHPW, S100XUID |
| Share capital | 700 | 700 | 700 | 700 | 700 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Property, plant and equipment | 1,193 | 1,662 | 3,000 | 2,953 | 8,212 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Intangible assets excluding goodwill | 2,207 | 1,904 | 2,607 | 2,321 | 5,466 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Goodwill | 1,879 | 1,554 | 1,527 | 1,320 | 4,895 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Investment securities | 761 | 1,061 | 1,961 | 1,604 | 2,064 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Current assets | 7,441 | 7,420 | 8,091 | 8,919 | 12,782 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Current liabilities | 4,363 | 3,869 | 7,188 | 5,221 | 11,596 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Short-term borrowings | 1,410 | 921 | 3,217 | 1,160 | 2,460 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Long-term borrowings | 1,711 | 1,337 | 2,221 | 3,538 | 4,728 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Total liabilities | 6,691 | 5,857 | 10,096 | 9,495 | 20,601 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Non-controlling interests | 452 | 396 | 476 | 547 | 1,692 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Equity attributable to owners of parent | 5,977 | 7,246 | 7,767 | 8,465 | 10,300 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Retained earnings | 5,475 | 6,593 | 7,981 | 9,272 | 11,047 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |
| Treasury stock | -999 | -902 | -1,843 | -2,436 | -2,384 | S100QFUQ, S100T3ZH, S100VHPW, S100XUID |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100XUID |
| Property, plant and equipment | 25% | S100XUID |
| Intangibles and goodwill | 32% | S100XUID |
| Investment securities | 6% | S100XUID |
| Other assets | 21% | S100XUID |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 63% | S100XUID |
| Equity | 37% | S100XUID |
| Other liabilities | 0% | S100XUID |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 13,315 | 13,821 | 18,120 | 18,466 | 32,525 |
| Equity | 6,623 | 7,964 | 8,024 | 8,970 | 11,923 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,362 | 3,840 | 4,805 | 4,374 | 5,069 |

## 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) | 40.7% | S100XUID |
| Fixed assets ÷ total assets | 25.2% | S100XUID |
| Goodwill ÷ parent equity | 47.5% | S100XUID |

Goodwill over 4 years: 1,879 → 4,895 JPY; total investing cash flow: -10,620 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) | 15.6% |
| Cash ÷ revenue | 25.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 73.4% |
| Cash vs. profit gap | 573 JPY mn (of net income 27.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 14.5% |
| Shareholder payments — dividends / FCF | 14.5% |
| CapEx intensity (capex ÷ revenue) | 2.8% |
| Investing CF relative to operating CF | 123.2% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 7.5% | 1.06× | 7.9% | 2.23× | 17.6% | S100QFUQ |
| 2022 | 10.1% | 1.08× | 11.0% | 2.05× | 22.6% | S100T3ZH |
| 2023 | 9.2% | 1.11× | 10.2% | 2.13× | 21.7% | S100VHPW |
| 2024 | 8.6% | 0.97× | 8.3% | 2.25× | 18.8% | S100XUID |
| 2025 | 10.3% | 0.79× | 8.1% | 2.72× | 22.1% | S100XUID |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 石坂 茂 | Major shareholder | 31.3% | 2025-12-31 |
| 株式会社ＴＮnetwork | Major shareholder | 8.6% | 2025-12-31 |
| 中本 哲宏 | Major shareholder | 6.3% | 2025-12-31 |
| 土谷 健次郎 | Major shareholder | 5.7% | 2025-12-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 5.4% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.2% | 2025-12-31 |
| 大田 宣明 | Major shareholder | 2.4% | 2025-12-31 |
| 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 | 2.3% | 2025-12-31 |
| IBJ従業員持株会 | Major shareholder | 1.5% | 2025-12-31 |
| 桑原 元就 | Major shareholder | 1.4% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第20期(2025/01/01－2025/12/31) | S100XUID | 2026-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XUID,, |
| 有価証券報告書－第19期(2024/01/01－2024/12/31) | S100VHPW | 2025-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VHPW,, |
| 有価証券報告書－第18期(2023/01/01－2023/12/31) | S100T3ZH | 2024-03-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T3ZH,, |
| 有価証券報告書－第17期(2022/01/01－2022/12/31) | S100QFUQ | 2023-03-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QFUQ,, |
| 有価証券報告書－第16期(令和3年1月1日－令和3年12月31日) | S100NR8I | 2022-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NR8I,, |
| 有価証券報告書－第15期(令和2年1月1日－令和2年12月31日) | S100L2U2 | 2021-03-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L2U2,, |

## 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).