# IDEA Consultants.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58期(2025/01/01－2025/12/31) (S100XTWL)
> Page: https://vizora.meequs.com/en/company/idea-consultants
> Retrieved: 2026-09-30T19:50:09.052Z

## Company

IDEA Consultants., founded in 1968, is a company in IT Services & System Integration listed on TSE Standard. It has 1,105 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | IDEA Consultants,Inc. |
| Ticker | 9768 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9768.T) |
| Listing | TSE Standard |
| Head office | 東京都世田谷区駒沢三丁目15番1号 |
| Representative (per filing) | 代表取締役社長 田畑彰久 |
| Founded | Sep 1968 |
| Share capital | ¥3.17B |
| Employees (consolidated) | 1,105 |
| Average salary (parent only) | ¥7.8M |
| Fiscal year end | December |
| Website | www.ideacon.co.jp (https://www.ideacon.co.jp/) |
| Corporate number | 7010901005494 |
| EDINET | E04795 |
| Industries (Vizora) | IT Services & System Integration, Consulting, Real Estate Development & Leasing, Disaster Prevention & Infrastructure Maintenance |

> Profile source: annual securities report (S100XTWL, filed 2026-03-26). As of filing

## Five-axis industry profile

Primary industry: Consulting (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 14.5 | 31 |
| Profitability | 60.2 | 44 |
| Cash conversion | 17 | 44 |
| Efficiency | 8 | 44 |

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 65% of IDEA Consultants.'s sales come from Environmental consultant business, with Construction consultant business and Information system business making up much of the rest.
- Out of every ¥100 of sales, about ¥13 is left as operating profit.
- Revenue changed +1.3% from the prior year, operating profit -2.1%.

## Company structure

- Segment revenue mix: Environmental consultant business 64.8%、Construction consultant business 29.7%、Information system business 2.6%、Overseas business 2.2%、Real estate business 0.6%
- Revenue → net income: ¥24616233000 → ¥2380964000
- Net income → operating cash flow: ¥2380964000 → ¥1196402000（difference ¥-1184562000）
- Main uses of operating cash flow: CapEx ¥873316000 / dividends ¥712761000 / buybacks ¥595000
- Change in cash: ¥-847572000
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 | ¥24.6B |  |
| Operating income | ¥3.19B | Margin 12.9% |
| Net income | ¥2.38B | Margin 9.7% |
| Free cash flow | ¥323.1M |  |
| Largest business | Environmental consultant business | of segment revenue 64.8% |
| Employees (consolidated) | 1,105 |  |
| EPS | ¥331.59 |  |
| Book value per share | ¥4154.23 |  |
| Equity ratio | 81.2% |  |
| Shares outstanding | 7,499,025 |  |
| Treasury shares | 360,000 |  |
| Shareholders | 5,184 |  |
| Average salary (parent only) | ¥7.8M | Filing company only |
| Cash ratio | 7.7% | Cash ÷ revenue 11.9% |
| Vs. industry median margin | +3.4 pp | Consulting |
| ROE | 8.4% | Derived from disclosed figures |
| ROA | 6.3% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥20014214000 | ¥24616233000 | +23.0% |
| Operating income | ¥2168158000 | ¥3186838000 | +47.0% |
| Operating margin | 10.8% | 12.9% | +2.1 pp |
| Employees | 983 people | 1,105 people | +12.4% |
| Cash and equivalents | ¥2395213000 | ¥2925989000 | +22.2% |

### 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 |
| --- | ---: |
| 環境コンサルタント事業 → 環境コンサルタント事業 | 61.5% |
| 建設コンサルタント事業 → 建設コンサルタント事業 | 29.7% |
| 建設コンサルタント事業 → 事業再編・廃止 | 5.7% |
| 情報システム事業 → 情報システム事業 | 2.3% |
| 不動産事業 → 不動産事業 | 0.6% |
| 不動産事業 → 事業再編・廃止 | 0.3% |
| 新設・再編 → 環境コンサルタント事業 | 3.3% |
| 新設・再編 → 情報システム事業 | 0.4% |
| 新設・再編 → 海外事業 | 2.2% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Environmental consultant business | 5 years | +5.3% | ¥15951932000 | 12.0% | 2 |
| Construction consultant business | 5 years | +0.6% | ¥7307293000 | 15.2% | 2 |
| Information system business | 5 years | +7.7% | ¥651096000 | 9.9% | 2 |
| Overseas business | 3 years | -7.3% | ¥548267000 | -1.4% | 2 |
| Real estate business | 5 years | -2.9% | ¥157643000 | 70.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 24,616 | 100.0% | S100XTWL |
| Cost of revenue | 16,453 | 66.8% | S100XTWL |
| Gross profit | 8,164 | 33.2% | S100XTWL |
| SG&A | 4,977 | 20.2% | S100XTWL |
| Operating income | 3,187 | 12.9% | S100XTWL |
| Ordinary income | 3,366 | 13.7% | S100XTWL |
| Pretax income | 3,400 | 13.8% | S100XTWL |
| Income tax | 1,019 | 4.1% | S100XTWL |
| Net income | 2,381 | 9.7% | S100XTWL |
| Net income attributable to owners | 2,381 | 9.7% | S100XTWL |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 67 |
| SG&A | 20 |
| Operating income | 13 |
| (Ref.) Net income | 10 |

### Margin funnel

Gross margin 33.2% → Operating margin 12.9% → Net margin 9.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.3%; Core profit growth: -2.1%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -1.65×
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 | 24,310 | 24,616 | 306 | +1.3% |
| Gross profit | 8,228 | 8,164 | -65 | -0.8% |
| Operating income | 3,254 | 3,187 | -68 | -2.1% |
| Net income attributable to owners | 2,376 | 2,381 | 5 | +0.2% |
| Operating cash flow | 4,006 | 1,196 | -2,809 | -70.1% |
| Free cash flow | 2,790 | 323 | -2,467 | -88.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 19,635 | 1,932 | 9.8% | 1,440 | 770 | 140 | S100L0X5 |
| FY ending Dec 2020 | 20,014 | 2,168 | 10.8% | 1,346 | 3,099 | 2,314 | S100NQN9 |
| FY ending Dec 2021 | 20,624 | 2,548 | 12.4% | 2,083 | 1,642 | 109 | S100QGPE |
| FY ending Dec 2022 | 23,035 | 3,155 | 13.7% | 2,149 | 4,220 | 1,846 | S100T4R4 |
| FY ending Dec 2023 | 22,699 | 2,791 | 12.3% | 1,990 | -160 | -1,846 | S100VH2Z |
| FY ending Dec 2024 | 24,310 | 3,254 | 13.4% | 2,376 | 4,006 | 2,790 | S100XTWL |
| FY ending Dec 2025 | 24,616 | 3,187 | 12.9% | 2,381 | 1,196 | 323 | S100XTWL |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥22.3M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.2M |

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) | 1,029 | 1,069 | 1,083 | 1,098 | 1,105 |
| Average salary (parent company) | ¥7.1M | ¥7.2M | ¥7.4M | ¥7.4M | ¥7.8M |
| Average age (parent company) | 44.4 years | 44.7 years | 44.6 years | 44.4 years | 44.4 years |
| Average tenure (parent company) | 15.5 years | 15.6 years | 15.4 years | 15.4 years | 15.4 years |

Year over year: Employees (consolidated) +0.6% · Revenue (consolidated) +1.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Environmental consultant business | 15,952 | 64.8% | 1,908 | 12.0% |
| Construction consultant business | 7,307 | 29.7% | 1,111 | 15.2% |
| Information system business | 651 | 2.6% | 64 | 9.9% |
| Overseas business | 548 | 2.2% | -8 | -1.4% |
| Real estate business | 158 | 0.6% | 111 | 70.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Environmental consultant business | 64.8% | 59.7% | -5.1 | 12.0% |
| Construction consultant business | 29.7% | 34.8% | 5.1 | 15.2% |
| Information system business | 2.6% | 2.0% | -0.6 | 9.9% |
| Overseas business | 2.2% | — | — | -1.4% |
| Real estate business | 0.6% | 3.5% | 2.8 | 70.5% |

Loss-making segment (excluded from profit shares): Overseas business -8 JPY mn

Segment → industry: Information system business → IT Services & System Integration / Environmental consultant business → Consulting / Real estate business → Real Estate Development & Leasing / Overseas business → Disaster Prevention & Infrastructure Maintenance / Construction consultant business → Disaster Prevention & Infrastructure Maintenance

## 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 | 1,196 | 4.9% | S100XTWL |
| Capital expenditure | 873 | 3.5% | S100XTWL |
| Free cash flow | 323 | 1.3% | 算出 |
| Investing cash flow | -1,125 | -4.6% | S100XTWL |
| Financing cash flow | -911 | -3.7% | S100XTWL |
| Dividends paid | 713 | 2.9% | S100XTWL |
| Share buyback | 1 | 0.0% | S100XTWL |
| Change in cash | -848 | -3.4% | S100XTWL |
| Cash and equivalents | 2,926 | 11.9% | S100XTWL |

## 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 | 1,281 | 3,945 | 2,294 | 3,774 | 2,926 | S100T4R4, S100VH2Z, S100XTWL |
| Total assets | 27,525 | 33,956 | 34,504 | 37,453 | 37,839 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Net assets | 20,402 | 24,675 | 26,539 | 28,726 | 30,712 | S100T4R4, S100VH2Z, S100XTWL |
| Share capital | 3,173 | 3,173 | 3,173 | 3,173 | 3,173 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Property, plant and equipment | 13,608 | 15,260 | 16,477 | 16,759 | 16,906 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Intangible assets excluding goodwill | 180 | 222 | 177 | 128 | 101 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Investment securities | 1,554 | 1,239 | 1,545 | 1,803 | 2,444 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Current assets | 10,641 | 15,596 | 14,845 | 17,261 | 16,991 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Current liabilities | 4,139 | 5,741 | 4,625 | 5,572 | 4,288 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Short-term borrowings | — | — | 700 | — | — | S100VH2Z |
| Long-term borrowings | — | 700 | 500 | 300 | 100 | S100T4R4, S100VH2Z, S100XTWL |
| Total liabilities | 7,123 | 9,280 | 7,965 | 8,727 | 7,127 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Non-controlling interests | 1 | 1 | 1 | 1 | 1 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Equity attributable to owners of parent | 19,820 | 23,887 | 25,555 | 27,467 | 29,134 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Retained earnings | 13,434 | 17,502 | 19,170 | 21,082 | 22,749 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |
| Treasury stock | -140 | -140 | -140 | -141 | -141 | S100QGPE, S100T4R4, S100VH2Z, S100XTWL |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100XTWL |
| Property, plant and equipment | 45% | S100XTWL |
| Intangibles and goodwill | 0% | S100XTWL |
| Investment securities | 6% | S100XTWL |
| Other assets | 41% | S100XTWL |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 19% | S100XTWL |
| Equity | 81% | S100XTWL |

### 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 | 27,525 | 33,956 | 34,504 | 37,453 | 37,839 |
| Equity | 20,402 | 24,675 | 26,539 | 28,726 | 30,712 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,281 | 3,945 | 2,294 | 3,774 | 2,926 |

## 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) | 68.7% | S100XTWL |
| Fixed assets ÷ total assets | 44.7% | S100XTWL |
| Goodwill ÷ parent equity | — | —, S100XTWL |

### 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) | 7.7% |
| Cash ÷ revenue | 11.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 37.5% |
| Cash vs. profit gap | -1,185 JPY mn (of net income -49.8%) |
| Shareholder returns / net income | 30.0% |
| Shareholder returns / FCF | 220.8% |
| Shareholder payments — dividends / net income | 29.9% |
| Shareholder payments — dividends / FCF | 220.6% |
| CapEx intensity (capex ÷ revenue) | 3.5% |
| Investing CF relative to operating CF | 94.1% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 10.1% | 0.75× | 7.6% | 1.39× | 10.5% | S100QGPE |
| 2022 | 9.3% | 0.75× | 7.0% | 1.41× | 9.8% | S100T4R4 |
| 2023 | 8.8% | 0.66× | 5.8% | 1.38× | 8.0% | S100VH2Z |
| 2024 | 9.8% | 0.68× | 6.6% | 1.36× | 9.0% | S100XTWL |
| 2025 | 9.7% | 0.65× | 6.3% | 1.33× | 8.4% | S100XTWL |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| いであ従業員持株会 | Major shareholder | 10.1% | 2025-12-31 |
| NORTHERN TRUST CO.(AVFC)RE IEDP AIF CLIENTS NONTRETY ACCOUNT（常任代理人 香港上海銀行東京支店 カストディ業務部Senior Manager,Operation） | Major shareholder | 5.3% | 2025-12-31 |
| ライフケアサービス株式会社 | Major shareholder | 5.0% | 2025-12-31 |
| 株式会社三井住友銀行 | Major shareholder | 4.9% | 2025-12-31 |
| 田 畑 日出男 | Major shareholder | 4.3% | 2025-12-31 |
| 株式会社りそな銀行 | Major shareholder | 3.9% | 2025-12-31 |
| 諸 岡 嘉 男 | Major shareholder | 3.1% | 2025-12-31 |
| 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 | 1.7% | 2025-12-31 |
| 光通信KK投資事業有限責任組合無限責任組合員光通信株式会社 | Major shareholder | 1.7% | 2025-12-31 |
| 田 畑 彰 久 | Major shareholder | 1.6% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第58期(2025/01/01－2025/12/31) | S100XTWL | 2026-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XTWL,, |
| 有価証券報告書－第57期(2024/01/01－2024/12/31) | S100VH2Z | 2025-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VH2Z,, |
| 有価証券報告書－第56期(2023/01/01－2023/12/31) | S100T4R4 | 2024-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T4R4,, |
| 有価証券報告書－第55期(2022/01/01－2022/12/31) | S100QGPE | 2023-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QGPE,, |
| 有価証券報告書－第54期(令和3年1月1日－令和3年12月31日) | S100NQN9 | 2022-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NQN9,, |
| 有価証券報告書－第53期(令和2年1月1日－令和2年12月31日) | S100L0X5 | 2021-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L0X5,, |

## 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).