# INSIGHT INC.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第51期(2024/07/01－2025/06/30) (S100WST9)
> Page: https://vizora.meequs.com/en/company/insight
> Retrieved: 2026-09-30T19:05:56.384Z

## Company

Insight, founded in 1975, is a company in Advertising listed on Sapporo. It has 71 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | INSIGHT INC. |
| Ticker | 2172 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2172.T) |
| Listing | Sapporo |
| Head office | 札幌市北区北八条西一丁目3番地 |
| Representative (per filing) | 代表取締役会長 浅井 一 |
| Founded | Jun 1975 |
| Share capital | ¥139.3M |
| Employees (consolidated) | 71 |
| Average salary (parent only) | ¥4.4M |
| Fiscal year end | June |
| Website | www.ppi.jp (https://www.ppi.jp/) |
| Corporate number | 9430001009798 |
| EDINET | E05740 |
| Industries (Vizora) | Advertising |

> Profile source: annual securities report (S100WST9, filed 2025-10-03). As of filing

## Five-axis industry profile

Primary industry: Advertising (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 30.7 | 57 |
| Profitability | 28.5 | 86 |
| Cash conversion | 84.7 | 75 |
| Efficiency | 87.8 | 86 |

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 98% of Insight's sales come from Advertising and marketing business, with Investment in receivables business making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -2.6% from the prior year, operating profit -25.3%.

## Company structure

- Segment revenue mix: Advertising and marketing business 98.2%、Investment in receivables business 1.8%
- Revenue → net income: ¥2458818000 → ¥69927000
- Net income → operating cash flow: ¥69927000 → ¥115197000（difference ¥45270000）
- Main uses of operating cash flow: CapEx ¥39283000 / dividends ¥17562000 / buybacks —
- Change in cash: ¥93761000
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 | ¥2.46B |  |
| Operating income | ¥70.5M | Margin 2.9% |
| Net income | ¥67.9M | Margin 2.8% |
| Free cash flow | ¥75.9M |  |
| Largest business | Advertising and marketing business | of segment revenue 98.2% |
| Employees (consolidated) | 71 |  |
| EPS | ¥33 |  |
| Book value per share | ¥363.18 |  |
| Equity ratio | 59.9% |  |
| Shares outstanding | 1,605,000 |  |
| Shareholders | 403 |  |
| Average salary (parent only) | ¥4.4M | Filing company only |
| Cash ratio | 43.1% | Cash ÷ revenue 22.6% |
| Vs. industry median margin | -2.8 pp | Advertising |
| ROE | 9.1% | Derived from disclosed figures |
| ROA | 5.5% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 94% of positive segment profit
- FY2025, cash is 43% of total assets

## What changed in 5 years

| Metric | FY ending Jun 2020 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2327924000 | ¥2458818000 | +5.6% |
| Operating income | ¥16759000 | ¥70533000 | +320.9% |
| Operating margin | 0.7% | 2.9% | +2.1 pp |
| Employees | 103 people | 71 people | -31.1% |
| Cash and equivalents | ¥496545000 | ¥556824000 | +12.1% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 広告・マーケティング事業 → 広告・マーケティング事業 | 85.3% |
| 債権投資事業 → 債権投資事業 | 1.5% |
| 介護福祉事業 → 事業再編・廃止 | 10.3% |
| ケアサービス事業 → 事業再編・廃止 | 2.9% |
| 新設・再編 → 広告・マーケティング事業 | 12.9% |
| 新設・再編 → 債権投資事業 | 0.3% |

Segment revenue source references: 6 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,459 | 100.0% | S100WST9 |
| Cost of revenue | 1,783 | 72.5% | S100WST9 |
| Gross profit | 676 | 27.5% | S100WST9 |
| SG&A | 606 | 24.6% | S100WST9 |
| Operating income | 71 | 2.9% | S100WST9 |
| Ordinary income | 72 | 2.9% | S100WST9 |
| Pretax income | 109 | 4.4% | S100WST9 |
| Income tax | 39 | 1.6% | S100WST9 |
| Net income | 70 | 2.8% | S100WST9 |
| Net income attributable to owners | 68 | 2.8% | S100WST9 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 72 |
| SG&A | 25 |
| Operating income | 3 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 27.5% → Operating margin 2.9% → Net margin 2.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -2.6%; Core profit growth: -25.3%
Operating leverage (core profit growth ÷ revenue growth): 9.66×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,525 | 2,459 | -66 | -2.6% |
| Gross profit | 686 | 676 | -10 | -1.4% |
| Operating income | 94 | 71 | -24 | -25.3% |
| Net income attributable to owners | 122 | 68 | -54 | -44.5% |
| Operating cash flow | 115 | 115 | -0 | -0.0% |
| Free cash flow | 106 | 76 | -30 | -28.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2019 | 2,199 | 59 | 2.7% | 45 | 211 | 199 | S100JRNM |
| FY ending Jun 2020 | 2,328 | 17 | 0.7% | 14 | 157 | 126 | S100MILL |
| FY ending Jun 2021 | 1,968 | -39 | -2.0% | -32 | -303 | -310 | S100QQSO |
| FY ending Jun 2022 | 2,330 | 76 | 3.3% | 69 | 217 | 211 | S100RWWZ |
| FY ending Jun 2023 | 2,749 | 142 | 5.2% | 107 | 145 | 142 | S100UFM4 |
| FY ending Jun 2024 | 2,525 | 94 | 3.7% | 122 | 115 | 106 | S100WST9 |
| FY ending Jun 2025 | 2,459 | 71 | 2.9% | 68 | 115 | 76 | S100WST9 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.6M |
| Operating income per employee (consolidated) | ¥993.4K |
| Net income per employee (consolidated) | ¥956.5K |

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

| History | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 107 | 96 | 103 | 75 | 71 |
| Average salary (parent company) | ¥3.9M | ¥3.9M | ¥4M | ¥4.7M | ¥4.4M |
| Average age (parent company) | 38.9 years | 37.9 years | 38.7 years | 39.0 years | 40.1 years |
| Average tenure (parent company) | 4.9 years | 5.1 years | 5.3 years | 5.8 years | 6.5 years |

Year over year: Employees (consolidated) -5.3% · Revenue (consolidated) -2.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Advertising and marketing business | 2,414 | 98.2% | 233 | 9.7% |
| Investment in receivables business | 45 | 1.8% | 15 | 34.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Advertising and marketing business | 98.2% | 93.8% | -4.3 | 9.7% |
| Investment in receivables business | 1.8% | 6.2% | 4.3 | 34.1% |

Segment → industry: Advertising and marketing business → Advertising

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 115 | 4.7% | S100WST9 |
| Capital expenditure | 39 | 1.6% | S100WST9 |
| Free cash flow | 76 | 3.1% | 算出 |
| Investing cash flow | -1 | -0.1% | S100WST9 |
| Financing cash flow | -20 | -0.8% | S100WST9 |
| Dividends paid | 18 | 0.7% | S100WST9 |
| Change in cash | 94 | 3.8% | S100WST9 |
| Cash and equivalents | 557 | 22.6% | S100WST9 |

## 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 Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 263 | 445 | 556 | 463 | 557 | S100RWWZ, S100UFM4, S100WST9 |
| Total assets | 1,050 | 1,169 | 1,273 | 1,166 | 1,293 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Net assets | 467 | 536 | 632 | 740 | 792 | S100RWWZ, S100UFM4, S100WST9 |
| Share capital | 139 | 139 | 139 | 139 | 139 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Trade receivables | 247 | — | — | — | — | S100MILL |
| Property, plant and equipment | 166 | 153 | 137 | 45 | 46 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Intangible assets excluding goodwill | 10 | 3 | 1 | 2 | 2 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Goodwill | 5 | 0 | — | — | — | S100QQSO, S100RWWZ |
| Investment securities | 1 | 1 | 1 | 5 | 5 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Current assets | 833 | 969 | 1,092 | 988 | 1,142 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Current liabilities | 353 | 424 | 553 | 415 | 449 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Trade payables | 108 | 119 | 133 | 156 | 160 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Short-term borrowings | 100 | 100 | 100 | 100 | 100 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Long-term borrowings | 200 | 186 | 78 | — | — | S100QQSO, S100RWWZ, S100UFM4 |
| Total liabilities | 583 | 633 | 641 | 426 | 501 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Non-controlling interests | 9 | 8 | 10 | 15 | 17 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Equity attributable to owners of parent | 459 | 527 | 622 | 725 | 775 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |
| Retained earnings | 272 | 341 | 434 | 537 | 588 | S100QQSO, S100RWWZ, S100UFM4, S100WST9 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 43% | S100WST9 |
| Property, plant and equipment | 4% | S100WST9 |
| Intangibles and goodwill | 0% | S100WST9 |
| Investment securities | 0% | S100WST9 |
| Other assets | 53% | S100WST9 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 13% | S100WST9 |
| Other liabilities | 26% | S100WST9 |
| Equity | 61% | S100WST9 |

### Balance sheet history

| Metric | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,050 | 1,169 | 1,273 | 1,166 | 1,293 |
| Equity | 467 | 536 | 632 | 740 | 792 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 263 | 445 | 556 | 463 | 557 |

## 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) | 1.9% | S100WST9 |
| Fixed assets ÷ total assets | 3.6% | S100WST9 |
| Goodwill ÷ parent equity | — | —, S100WST9 |

### 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) | 43.1% |
| Cash ÷ revenue | 22.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 163.3% |
| Cash vs. profit gap | 47 JPY mn (of net income 69.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 25.9% |
| Shareholder payments — dividends / FCF | 23.1% |
| CapEx intensity (capex ÷ revenue) | 1.6% |
| Investing CF relative to operating CF | 1.2% |

## 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 | — | —× | -3.0% | —× | — | S100QQSO |
| 2022 | 2.9% | 2.10× | 6.2% | 2.25× | 13.9% | S100RWWZ |
| 2023 | 3.9% | 2.25× | 8.8% | 2.13× | 18.6% | S100UFM4 |
| 2024 | 4.8% | 2.07× | 10.0% | 1.81× | 18.2% | S100WST9 |
| 2025 | 2.8% | 2.00× | 5.5% | 1.64× | 9.1% | S100WST9 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 浅井 一 | Major shareholder | 37.6% | 2025-06-30 |
| 浅井 昇平 | Major shareholder | 5.6% | 2025-06-30 |
| 浅井 亮介 | Major shareholder | 5.6% | 2025-06-30 |
| 株式会社パートナーズ | Major shareholder | 4.4% | 2025-06-30 |
| 本間 広則 | Major shareholder | 3.7% | 2025-06-30 |
| 古瀬 博 | Major shareholder | 3.0% | 2025-06-30 |
| 株式会社北海道銀行 | Major shareholder | 2.6% | 2025-06-30 |
| アライドアーキテクツ株式会社 | Major shareholder | 2.5% | 2025-06-30 |
| 株式会社カネマツ | Major shareholder | 1.9% | 2025-06-30 |
| 森岡 幸人 | Major shareholder | 1.9% | 2025-06-30 |
| 株式会社北洋銀行 | Major shareholder | 1.9% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第51期(2024/07/01－2025/06/30) | S100WST9 | 2025-10-03 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WST9,, |
| 有価証券報告書－第50期(2023/07/01－2024/06/30) | S100UFM4 | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFM4,, |
| 有価証券報告書－第49期(2022/07/01－2023/06/30) | S100RWWZ | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWWZ,, |
| 訂正有価証券報告書－第48期(2021/07/01－2022/06/30) | S100QQSO | 2023-05-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QQSO,, |
| 有価証券報告書－第47期(令和2年7月1日－令和3年6月30日) | S100MILL | 2021-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MILL,, |
| 有価証券報告書－第46期(令和1年7月1日－令和2年6月30日) | S100JRNM | 2020-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JRNM,, |

## 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).