# Inbound Tech Inc.: 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11期(2025/04/01－2026/03/31) (S100YMRC)
> Page: https://vizora.meequs.com/en/company/inbound-tech
> Retrieved: 2026-09-30T21:30:59.356Z

## Company

Inbound Tech, founded in 2015, is a company in Business Process Outsourcing listed on TSE Growth. It has 79 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Inbound Tech Inc. |
| Ticker | 7031 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7031.T) |
| Listing | TSE Growth |
| Head office | 東京都新宿区新宿一丁目8番1号 |
| Representative (per filing) | 代表取締役社長 下大薗 豊 |
| Founded | Apr 2015 |
| Share capital | ¥554M |
| Employees (consolidated) | 79 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.inboundtech.co.jp (https://www.inboundtech.co.jp/) |
| Corporate number | 4011101072956 |
| EDINET | E34070 |
| Industries (Vizora) | Business Process Outsourcing |

> Profile source: annual securities report (S100YMRC, filed 2026-06-29). As of filing

## Five-axis industry profile

Primary industry: Business Process Outsourcing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 7.1 | 21 |
| Efficiency | 7.1 | 21 |

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 75% of Inbound Tech's sales come from Multilingual CRM, with Sales Outsourcing Business making up much of the rest.
- It lost about ¥7 for every ¥100 of sales at the operating level.
- Revenue changed -16.1% from the prior year, operating profit -818.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥2.13B |  |
| Operating income | -¥153.8M | Margin -7.2% |
| Net income | -¥235.5M | Margin -11.0% |
| Free cash flow | ¥5.4M |  |
| Largest business | Multilingual CRM | of segment revenue 75.3% |
| Employees (consolidated) | 79 |  |
| EPS | ¥-64.5 |  |
| Book value per share | ¥773 |  |
| Equity ratio | 53.8% |  |
| Shares outstanding | 2,523,475 |  |
| Treasury shares | 136,300 |  |
| Shareholders | 1,008 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 52.3% | Cash ÷ revenue 62.6% |
| Vs. industry median margin | -11.1 pp | Business Process Outsourcing |
| ROA | -8.7% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 61% of positive segment profit
- FY2026, cash is 52% of total assets
- FY2026, parent-company salary changed +33% over five years

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2003299000 | ¥2133609000 | — |
| Operating income | ¥277620000 | ¥-153754000 | — |
| Operating margin | 13.9% | -7.2% | -21.1 pp |
| Employees | 34 people | 79 people | — |
| Cash and equivalents | ¥1567475000 | ¥1336376000 | — |

### 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 |
| --- | ---: |
| マルチリンガルＣＲＭ事業 → マルチリンガルＣＲＭ事業 | 50.6% |
| セールスアウトソーシング事業 → セールスアウトソーシング事業 | 24.7% |
| セールスアウトソーシング事業 → 事業再編・廃止 | 24.7% |
| 新設・再編 → マルチリンガルＣＲＭ事業 | 24.7% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,134 | 100.0% | S100YMRC |
| Cost of revenue | 1,790 | 83.9% | S100YMRC |
| Gross profit | 343 | 16.1% | S100YMRC |
| SG&A | 497 | 23.3% | S100YMRC |
| Operating income | -154 | -7.2% | S100YMRC |
| Ordinary income | -194 | -9.1% | S100YMRC |
| Pretax income | -193 | -9.1% | S100YMRC |
| Income tax | 43 | 2.0% | S100YMRC |
| Net income | -237 | -11.1% | S100YMRC |
| Net income attributable to owners | -235 | -11.0% | S100YMRC |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 23 |
| Operating income | -7 |
| (Ref.) Net income | -11 |

### Margin funnel

Gross margin 16.1% → Operating margin -7.2% → Net margin -11.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
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 | 2,545 | 2,134 | -411 | -16.1% |
| Gross profit | 572 | 343 | -229 | -40.0% |
| Operating income | 21 | -154 | -175 | -818.9% |
| Net income attributable to owners | -415 | -235 | 179 | — |
| Operating cash flow | 76 | 92 | 16 | +21.5% |
| Free cash flow | -76 | 5 | 82 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 2,983 | 212 | 7.1% | 141 | 291 | 287 | S100LUIR |
| FY ending Mar 2021 | 2,003 | 278 | 13.9% | 179 | 230 | 181 | S100LUIR |
| FY ending Mar 2022 | 2,770 | 291 | 10.5% | 183 | 234 | 179 | S100RAHT |
| FY ending Mar 2023 | 3,292 | 395 | 12.0% | 254 | 652 | 561 | S100TW2U |
| FY ending Mar 2024 | 3,318 | 330 | 10.0% | 208 | 187 | 37 | S100W9GS |
| FY ending Mar 2025 | 2,545 | 21 | 0.8% | -415 | 76 | -76 | S100YMRC |
| FY ending Mar 2026 | 2,134 | -154 | -7.2% | -235 | 92 | 5 | S100YMRC |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27M |
| Operating income per employee (consolidated) | -¥1.9M |
| Net income per employee (consolidated) | -¥3M |

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) | 64 | 77 | 106 | 94 | 79 |
| Average salary (parent company) | ¥4.1M | ¥4.5M | ¥5.2M | ¥5.3M | ¥5.4M |
| Average age (parent company) | 32.8 years | 32.3 years | 34.2 years | 34.1 years | 36.7 years |
| Average tenure (parent company) | 2.3 years | 2.7 years | 2.3 years | 2.7 years | 2.9 years |

Year over year: Employees (consolidated) -16.0% · Revenue (consolidated) -16.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Multilingual CRM | 1,606 | 75.3% | 181 | 11.3% |
| Sales Outsourcing Business | 527 | 24.7% | 117 | 22.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Multilingual CRM | 75.3% | 60.8% | -14.5 | 11.3% |
| Sales Outsourcing Business | 24.7% | 39.2% | 14.5 | 22.2% |

Segment → industry: Sales Outsourcing Business → Business Process Outsourcing / Multilingual CRM → Business Process Outsourcing

## 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 | 92 | 4.3% | S100YMRC |
| Capital expenditure | 87 | 4.1% | S100YMRC |
| Free cash flow | 5 | 0.3% | 算出 |
| Investing cash flow | -86 | -4.0% | S100YMRC |
| Financing cash flow | -77 | -3.6% | S100YMRC |
| Share buyback | 37 | 1.8% | S100YMRC |
| Change in cash | -71 | -3.3% | S100YMRC |
| Cash and equivalents | 1,336 | 62.6% | S100YMRC |

## 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 | 1,658 | 2,045 | 1,702 | 1,407 | 1,336 | S100TW2U, S100W9GS, S100YMRC |
| Total assets | 3,832 | 3,981 | 3,778 | 2,844 | 2,554 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Net assets | 2,351 | 2,632 | 2,683 | 1,983 | 1,721 | S100TW2U, S100W9GS, S100YMRC |
| Share capital | 547 | 547 | 548 | 548 | 554 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Property, plant and equipment | 60 | 82 | 143 | 116 | 115 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Intangible assets excluding goodwill | 1,333 | 1,253 | 1,152 | 497 | 425 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Goodwill | 793 | 719 | 634 | 18 | 93 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Investment securities | — | — | — | — | 40 | S100YMRC |
| Current assets | 2,330 | 2,505 | 2,282 | 2,065 | 1,821 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Current liabilities | 939 | 952 | 842 | 742 | 794 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Short-term borrowings | 300 | 300 | 300 | 400 | 400 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Long-term borrowings | 540 | 396 | 252 | 108 | — | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Total liabilities | 1,480 | 1,349 | 1,095 | 860 | 833 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Non-controlling interests | 514 | 528 | 554 | 328 | 326 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Equity attributable to owners of parent | 1,837 | 2,091 | 2,109 | 1,634 | 1,373 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Retained earnings | 705 | 960 | 1,168 | 635 | 400 | S100RAHT, S100TW2U, S100W9GS, S100YMRC |
| Treasury stock | — | -0 | -190 | -86 | -123 | S100TW2U, S100W9GS, S100YMRC |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 52% | S100YMRC |
| Property, plant and equipment | 5% | S100YMRC |
| Intangibles and goodwill | 20% | S100YMRC |
| Investment securities | 2% | S100YMRC |
| Other assets | 21% | S100YMRC |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 33% | S100YMRC |
| Equity | 67% | S100YMRC |

### 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 | 3,832 | 3,981 | 3,778 | 2,844 | 2,554 |
| Equity | 2,351 | 2,632 | 2,683 | 1,983 | 1,721 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,658 | 2,045 | 1,702 | 1,407 | 1,336 |

## 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) | 5.4% | S100YMRC |
| Fixed assets ÷ total assets | 4.5% | S100YMRC |
| Goodwill ÷ parent equity | 6.8% | S100YMRC |

Goodwill over 4 years: 793 → 93 JPY; total investing cash flow: -1,585 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) | 52.3% |
| Cash ÷ revenue | 62.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 328 JPY mn |
| 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 | 93.4% |

## 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 | 6.6% | 0.72× | 4.8% | 2.09× | 10.0% | S100RAHT |
| 2023 | 7.7% | 0.84× | 6.5% | 1.99× | 13.0% | S100TW2U |
| 2024 | 6.3% | 0.86× | 5.4% | 1.85× | 9.9% | S100W9GS |
| 2025 | — | —× | -12.5% | —× | — | S100YMRC |
| 2026 | — | —× | -8.7% | —× | — | S100YMRC |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Ｓｈｅｌｔｅｒ | Major shareholder | 13.7% | 2026-03-31 |
| 下大薗 豊 | Major shareholder | 12.4% | 2026-03-31 |
| 株式会社グローバルキャスト | Major shareholder | 11.1% | 2026-03-31 |
| ＵＨ Ｐａｒｔｎｅｒｓ ２ 投資事業有限責任組合 | Major shareholder | 7.8% | 2026-03-31 |
| ＵＨ Ｐａｒｔｎｅｒｓ ３ 投資事業有限責任組合 | Major shareholder | 7.8% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 6.5% | 2026-03-31 |
| 金子 将之 | Major shareholder | 3.1% | 2026-03-31 |
| 東間 大 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社日本旅行 | Major shareholder | 2.2% | 2026-03-31 |
| 株式会社フォーカスキャピタル | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第11期(2025/04/01－2026/03/31) | S100YMRC | 2026-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YMRC,, |
| 有価証券報告書－第10期(2024/04/01－2025/03/31) | S100W9GS | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W9GS,, |
| 有価証券報告書－第9期(2023/04/01－2024/03/31) | S100TW2U | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW2U,, |
| 有価証券報告書－第8期(2022/04/01－2023/03/31) | S100RAHT | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAHT,, |
| 訂正有価証券報告書－第7期(令和3年4月1日－令和4年3月31日) | S100OSWZ | 2022-07-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OSWZ,, |
| 有価証券報告書－第6期(令和2年4月1日－令和3年3月31日) | S100LUIR | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUIR,, |

## 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).