# INTER ACTION Corporation: business model and financials

> Latest period: FY ending May 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第34期(2025/06/01－2026/05/31) (S100YYJX)
> Page: https://vizora.meequs.com/en/company/inter-action
> Retrieved: 2026-09-30T21:06:46.099Z

## Company

Inter Action, founded in 1992, is a company in Robots & Factory Automation listed on TSE Prime. It has 123 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | INTER ACTION Corporation |
| Ticker | 7725 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7725.T) |
| Listing | TSE Prime |
| Head office | 神奈川県横浜市金沢区福浦一丁目1番地 |
| Representative (per filing) | 代表取締役社長 木地 伸雄 |
| Founded | Jun 1992 |
| Share capital | ¥1.76B |
| Employees (consolidated) | 123 |
| Average salary (parent only) | ¥7.3M |
| Fiscal year end | May |
| Website | www.inter-action.co.jp (https://www.inter-action.co.jp/) |
| Corporate number | 8020001005906 |
| EDINET | E02336 |
| Industries (Vizora) | Robots & Factory Automation, Semiconductor Equipment, Industrial Machinery |

> Profile source: annual securities report (S100YYJX, filed 2026-08-27). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Equipment (2026-05-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 4.2 | 36 |
| Profitability | 52.4 | 41 |
| Cash conversion | 78.2 | 39 |
| Efficiency | 3.7 | 41 |

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 61% of Inter Action's sales come from Internet of things related business, with Industry 4.0 propulsion business and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed -27.7% from the prior year, operating profit -50.5%.

## Company structure

- Segment revenue mix: Internet of things related business 61.2%、Industry 4.0 propulsion business 38.6%、Other 0.2%
- Revenue → net income: ¥4822080000 → ¥530313000
- Net income → operating cash flow: ¥530313000 → ¥1339603000（difference ¥809290000）
- Main uses of operating cash flow: CapEx ¥235902000 / dividends ¥467127000 / buybacks ¥1192010000
- Change in cash: ¥-551114000
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 | ¥4.82B |  |
| Operating income | ¥702.6M | Margin 14.6% |
| Net income | ¥530.3M | Margin 11.0% |
| Free cash flow | ¥1.1B |  |
| Largest business | Internet of things related business | of segment revenue 61.2% |
| Employees (consolidated) | 123 |  |
| EPS | ¥47.94 |  |
| Book value per share | ¥1029.22 |  |
| Equity ratio | 89.5% |  |
| Shares outstanding | 11,510,200 |  |
| Treasury shares | 1,174,600 |  |
| Shareholders | 5,611 |  |
| Average salary (parent only) | ¥7.3M | Filing company only |
| Cash ratio | 70.6% | Cash ÷ revenue 176.7% |
| Vs. industry median margin | +0.1 pp | Semiconductor Equipment |
| ROE | 4.7% | Derived from disclosed figures |
| ROA | 4.1% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.6× dividends
- FY2026, operating cash flow is 2.5× net income
- FY2026, one segment accounts for 92% of positive segment profit

## What changed in 5 years

| Metric | FY ending May 2021 | FY ending May 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6627997000 | ¥4822080000 | -27.2% |
| Operating income | ¥1751744000 | ¥702581000 | -59.9% |
| Operating margin | 26.4% | 14.6% | -11.9 pp |
| Employees | 138 people | 123 people | -10.9% |
| Cash and equivalents | ¥7211083000 | ¥8519358000 | +18.1% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| IoT関連事業 → IoT関連事業 | 61.2% |
| IoT関連事業 → 事業再編・廃止 | 6.8% |
| インダストリー４．０推進事業 → インダストリー４．０推進事業 | 19.6% |
| 環境エネルギー事業 → 事業再編・廃止 | 12.4% |
| 新設・再編 → インダストリー４．０推進事業 | 19.0% |
| 新設・再編 → その他 | 0.2% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Internet of things related business | 5 years | -8.1% | ¥2952187000 | 45.6% | 2 |
| Industry 4.0 propulsion business | 5 years | +7.5% | ¥1860191000 | 5.5% | 2 |
| Other | — | — | ¥9701000 | 90.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,822 | 100.0% | S100YYJX |
| Cost of revenue | 2,396 | 49.7% | S100YYJX |
| Gross profit | 2,426 | 50.3% | S100YYJX |
| SG&A | 1,724 | 35.7% | S100YYJX |
| Operating income | 703 | 14.6% | S100YYJX |
| Ordinary income | 835 | 17.3% | S100YYJX |
| Pretax income | 753 | 15.6% | S100YYJX |
| Income tax | 223 | 4.6% | S100YYJX |
| Net income | 530 | 11.0% | S100YYJX |
| Net income attributable to owners | 530 | 11.0% | S100YYJX |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 50 |
| SG&A | 36 |
| Operating income | 14 |
| (Ref.) Net income | 11 |

### Margin funnel

Gross margin 50.3% → Operating margin 14.6% → Net margin 11.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -27.7%; Core profit growth: -50.5%
Operating leverage (core profit growth ÷ revenue growth): 1.82×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 6,669 | 4,822 | -1,847 | -27.7% |
| Gross profit | 3,004 | 2,426 | -578 | -19.2% |
| Operating income | 1,419 | 703 | -716 | -50.5% |
| Net income attributable to owners | 979 | 530 | -449 | -45.8% |
| Operating cash flow | 3,562 | 1,340 | -2,222 | -62.4% |
| Free cash flow | 3,275 | 1,104 | -2,171 | -66.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2020 | 7,083 | 1,556 | 22.0% | 1,005 | 1,164 | 985 | S100MCAV |
| FY ending May 2021 | 6,628 | 1,752 | 26.4% | 1,159 | 2,370 | 2,250 | S100P32G |
| FY ending May 2022 | 6,017 | 1,130 | 18.8% | 761 | 423 | 297 | S100RR6H |
| FY ending May 2023 | 6,857 | 1,449 | 21.1% | 981 | 439 | 297 | S100UA1S |
| FY ending May 2024 | 7,755 | 1,578 | 20.3% | 1,133 | 8 | -158 | S100WL5W |
| FY ending May 2025 | 6,669 | 1,419 | 21.3% | 979 | 3,562 | 3,275 | S100YYJX |
| FY ending May 2026 | 4,822 | 703 | 14.6% | 530 | 1,340 | 1,104 | S100YYJX |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥39.2M |
| Operating income per employee (consolidated) | ¥5.7M |
| Net income per employee (consolidated) | ¥4.3M |

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

| History | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 126 | 126 | 128 | 130 | 123 |
| Average salary (parent company) | ¥6.7M | ¥6.9M | ¥7.7M | ¥7.4M | ¥7.3M |
| Average age (parent company) | 39.7 years | 41.0 years | 42.4 years | 42.2 years | 41.7 years |
| Average tenure (parent company) | 6.2 years | 7.1 years | 7.8 years | 7.5 years | 7.4 years |

Year over year: Employees (consolidated) -5.4% · Revenue (consolidated) -27.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Internet of things related business | 2,952 | 61.2% | 1,345 | 45.6% |
| Industry 4.0 propulsion business | 1,860 | 38.6% | 103 | 5.5% |
| Other | 10 | 0.2% | 9 | 90.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Internet of things related business | 61.2% | 92.4% | 31.1 | 45.6% |
| Industry 4.0 propulsion business | 38.6% | 7.0% | -31.5 | 5.5% |
| Other | 0.2% | 0.6% | 0.4 | 90.0% |

Segment → industry: Industry 4.0 propulsion business → Robots & Factory Automation / Internet of things related business → Semiconductor Equipment / Industry 4.0 propulsion business → Industrial Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,340 | 27.8% | S100YYJX |
| Capital expenditure | 236 | 4.9% | S100YYJX |
| Free cash flow | 1,104 | 22.9% | 算出 |
| Investing cash flow | -325 | -6.7% | S100YYJX |
| Financing cash flow | -1,709 | -35.4% | S100YYJX |
| Dividends paid | 467 | 9.7% | S100YYJX |
| Share buyback | 1,192 | 24.7% | S100YYJX |
| Change in cash | -551 | -11.4% | S100YYJX |
| Cash and equivalents | 8,519 | 176.7% | S100YYJX |

## 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 May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 6,740 | 6,853 | 6,313 | 9,070 | 8,519 | S100UA1S, S100WL5W, S100YYJX |
| Total assets | 11,533 | 12,610 | 13,646 | 13,656 | 12,061 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Net assets | 9,341 | 10,132 | 11,036 | 11,765 | 10,792 | S100UA1S, S100WL5W, S100YYJX |
| Share capital | 1,760 | 1,760 | 1,760 | 1,760 | 1,760 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Property, plant and equipment | 621 | 642 | 638 | 785 | 792 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Intangible assets excluding goodwill | 212 | 169 | 143 | 131 | 156 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Goodwill | 186 | 137 | 88 | 57 | 29 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Investment securities | 130 | 130 | 130 | 130 | 130 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Current assets | 10,216 | 11,296 | 12,308 | 12,156 | 10,523 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Current liabilities | 1,546 | 1,880 | 2,146 | 1,496 | 1,077 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Trade payables | 496 | 455 | 433 | 228 | 151 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Short-term borrowings | 180 | 340 | 440 | 440 | 390 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Long-term borrowings | 524 | 460 | 307 | 247 | 107 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Total liabilities | 2,192 | 2,478 | 2,610 | 1,891 | 1,269 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Equity attributable to owners of parent | 9,333 | 10,126 | 10,991 | 11,764 | 10,725 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Retained earnings | 5,363 | 6,123 | 6,862 | 7,453 | 7,515 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |
| Treasury stock | -1,143 | -1,110 | -983 | -803 | -1,902 | S100RR6H, S100UA1S, S100WL5W, S100YYJX |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 71% | S100YYJX |
| Property, plant and equipment | 7% | S100YYJX |
| Intangibles and goodwill | 1% | S100YYJX |
| Investment securities | 1% | S100YYJX |
| Other assets | 20% | S100YYJX |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 1% | S100YYJX |
| Other liabilities | 9% | S100YYJX |
| Equity | 90% | S100YYJX |

### Balance sheet history

| Metric | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 11,533 | 12,610 | 13,646 | 13,656 | 12,061 |
| Equity | 9,341 | 10,132 | 11,036 | 11,765 | 10,792 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,740 | 6,853 | 6,313 | 9,070 | 8,519 |

## 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) | 16.4% | S100YYJX |
| Fixed assets ÷ total assets | 6.6% | S100YYJX |
| Goodwill ÷ parent equity | 0.3% | S100YYJX |

Goodwill over 4 years: 186 → 29 JPY; total investing cash flow: -1,038 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) | 70.6% |
| Cash ÷ revenue | 176.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 190.7% |
| Cash vs. profit gap | 809 JPY mn (of net income 152.6%) |
| Shareholder returns / net income | 312.9% |
| Shareholder returns / FCF | 150.3% |
| Shareholder payments — dividends / net income | 88.1% |
| Shareholder payments — dividends / FCF | 42.3% |
| CapEx intensity (capex ÷ revenue) | 4.9% |
| Investing CF relative to operating CF | 24.3% |

## 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 | 12.6% | 0.52× | 6.6% | 1.24× | 8.2% | S100RR6H |
| 2023 | 14.3% | 0.57× | 8.1% | 1.24× | 10.1% | S100UA1S |
| 2024 | 14.6% | 0.59× | 8.6% | 1.24× | 10.7% | S100WL5W |
| 2025 | 14.7% | 0.49× | 7.2% | 1.20× | 8.6% | S100YYJX |
| 2026 | 11.0% | 0.38× | 4.1% | 1.14× | 4.7% | S100YYJX |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＳＩＬＶＥＲＣＡＰＥ ＩＮＶＥＳＴＭＥＮＴＳ ＬＩＭＩＴＥＤ （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 15.1% | 2026-05-31 |
| ＪＡＰＡＮ ＡＢＳＯＬＵＴＥ ＶＡＬＵＥ ＦＵＮＤ （常任代理人 立花証券株式会社） | Major shareholder | 12.0% | 2026-05-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.6% | 2026-05-31 |
| ＰＥＲＳＨＩＮＧ－ＤＩＶ．ＯＦ ＤＬＪ ＳＥＣＳ．ＣＯＲＰ． （常任代理人 シティバンク、エヌ・エイ 東京支店） | Major shareholder | 3.0% | 2026-05-31 |
| ＭＵＲＡＫＡＭＩ ＴＡＫＡＴＥＲＵ （常任代理人 三田証券株式会社） | Major shareholder | 2.3% | 2026-05-31 |
| 木地 伸雄 | Major shareholder | 2.2% | 2026-05-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.2% | 2026-05-31 |
| 栗村 昌昭 | Major shareholder | 2.0% | 2026-05-31 |
| 株式会社日本カストディ銀行（信託Ｅ口） | Major shareholder | 1.8% | 2026-05-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５１０５６０ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.5% | 2026-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第34期(2025/06/01－2026/05/31) | S100YYJX | 2026-08-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YYJX,, |
| 有価証券報告書－第33期(2024/06/01－2025/05/31) | S100WL5W | 2025-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WL5W,, |
| 有価証券報告書－第32期(2023/06/01－2024/05/31) | S100UA1S | 2024-08-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UA1S,, |
| 有価証券報告書－第31期(2022/06/01－2023/05/31) | S100RR6H | 2023-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RR6H,, |
| 有価証券報告書－第30期(令和3年6月1日－令和4年5月31日) | S100P32G | 2022-08-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P32G,, |
| 有価証券報告書－第29期(令和2年6月1日－令和3年5月31日) | S100MCAV | 2021-08-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MCAV,, |

## 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).