# internet infinity 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22期(2025/04/01－2026/03/31) (S100YLGZ)
> Page: https://vizora.meequs.com/en/company/internet-infinity
> Retrieved: 2026-09-30T22:22:22.642Z

## Company

internet infinity, founded in 2001, is a company in Health Tech listed on TSE Growth. It has 391 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | internet infinity INC. |
| Ticker | 6545 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6545.T) |
| Listing | TSE Growth |
| Head office | 東京都千代田区二番町11番19号 |
| Representative (per filing) | 代表取締役社長 別宮 圭一 |
| Founded | May 2001 |
| Share capital | ¥252.3M |
| Employees (consolidated) | 391 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Website | iif.jp (https://iif.jp/) |
| Corporate number | 2010001088949 |
| EDINET | E33005 |
| Industries (Vizora) | Health Tech, Nursing Care |

> Profile source: annual securities report (S100YLGZ, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Nursing Care (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 78.6 | 21 |
| Cash conversion | 55.3 | 19 |
| Efficiency | 73.8 | 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 72% of internet infinity's sales come from Health Care Solution business, with Home Care business making up much of the rest.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +14.2% from the prior year, operating profit +33.8%.

## Company structure

- Segment revenue mix: Health Care Solution business 71.8%、Home Care business 28.2%
- Revenue → net income: ¥5892513000 → ¥319829000
- Net income → operating cash flow: ¥319829000 → ¥687754000（difference ¥367925000）
- Main uses of operating cash flow: CapEx ¥123314000 / dividends ¥65472000 / buybacks ¥151568000
- Change in cash: ¥-343283000
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 | ¥5.89B |  |
| Operating income | ¥536.8M | Margin 9.1% |
| Net income | ¥319.8M | Margin 5.4% |
| Free cash flow | ¥564.4M |  |
| Largest business | Health Care Solution business | of segment revenue 71.8% |
| Employees (consolidated) | 391 |  |
| EPS | ¥43.81 |  |
| Diluted EPS | ¥43.14 |  |
| Book value per share | ¥241.9 |  |
| Equity ratio | 39.3% |  |
| Shares outstanding | 5,427,771 |  |
| Treasury shares | 81,800 |  |
| Shareholders | 7,780 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 43.0% | Cash ÷ revenue 33.2% |
| Vs. industry median margin | -4.7 pp | Health Tech |
| ROE | 18.6% | Derived from disclosed figures |
| ROA | 7.2% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.3× dividends
- FY2026, operating cash flow is 2.2× net income
- FY2026, one segment accounts for 63% of positive segment profit

## 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 | ¥3468651000 | ¥5892513000 | — |
| Operating income | ¥165366000 | ¥536751000 | — |
| Operating margin | 4.8% | 9.1% | +4.3 pp |
| Employees | 319 people | 391 people | — |
| Cash and equivalents | ¥845183000 | ¥1956560000 | — |

### 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 |
| --- | ---: |
| ヘルスケアソリューション事業 → ヘルスケアソリューション事業 | 63.9% |
| 在宅サービス事業 → 在宅サービス事業 | 28.2% |
| 在宅サービス事業 → 事業再編・廃止 | 7.9% |
| 新設・再編 → ヘルスケアソリューション事業 | 7.9% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,893 | 100.0% | S100YLGZ |
| Cost of revenue | 3,452 | 58.6% | S100YLGZ |
| Gross profit | 2,440 | 41.4% | S100YLGZ |
| SG&A | 1,903 | 32.3% | S100YLGZ |
| Operating income | 537 | 9.1% | S100YLGZ |
| Ordinary income | 589 | 10.0% | S100YLGZ |
| Pretax income | 576 | 9.8% | S100YLGZ |
| Income tax | 257 | 4.4% | S100YLGZ |
| Net income | 320 | 5.4% | S100YLGZ |
| Net income attributable to owners | 320 | 5.4% | S100YLGZ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 59 |
| SG&A | 32 |
| Operating income | 9 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 41.4% → Operating margin 9.1% → Net margin 5.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +14.2%; Core profit growth: +33.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.39×
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 | 5,162 | 5,893 | 731 | +14.2% |
| Gross profit | 2,044 | 2,440 | 396 | +19.4% |
| Operating income | 401 | 537 | 136 | +33.8% |
| Net income attributable to owners | 255 | 320 | 65 | +25.4% |
| Operating cash flow | 467 | 688 | 221 | +47.2% |
| Free cash flow | 244 | 564 | 320 | +131.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 3,576 | 217 | 6.1% | 122 | 395 | 230 | S100LMYZ |
| FY ending Mar 2021 | 3,469 | 165 | 4.8% | 150 | 362 | 267 | S100LMYZ |
| FY ending Mar 2022 | 4,168 | 156 | 3.7% | 186 | 272 | 220 | S100QW4N |
| FY ending Mar 2023 | 4,464 | 96 | 2.2% | 34 | 303 | 256 | S100TRF5 |
| FY ending Mar 2024 | 4,959 | 230 | 4.6% | 131 | 379 | 323 | S100W4X4 |
| FY ending Mar 2025 | 5,162 | 401 | 7.8% | 255 | 467 | 244 | S100YLGZ |
| FY ending Mar 2026 | 5,893 | 537 | 9.1% | 320 | 688 | 564 | S100YLGZ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥15.1M |
| Operating income per employee (consolidated) | ¥1.4M |
| Net income per employee (consolidated) | ¥818K |

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) | 329 | 374 | 364 | 353 | 391 |
| Average salary (parent company) | ¥4M | ¥3.9M | ¥3.9M | ¥5.6M | ¥6.2M |
| Average age (parent company) | 35.2 years | 31.5 years | 31.6 years | 36.6 years | 41.3 years |
| Average tenure (parent company) | 4.9 years | 4.0 years | 4.3 years | 5.3 years | 6.6 years |

Year over year: Employees (consolidated) +10.8% · Revenue (consolidated) +14.2%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Health Care Solution business | 4,233 | 71.8% | 686 | 16.2% |
| Home Care business | 1,660 | 28.2% | 400 | 24.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Health Care Solution business | 71.8% | 63.2% | -8.6 | 16.2% |
| Home Care business | 28.2% | 36.8% | 8.6 | 24.1% |

Segment → industry: Health Care Solution business → Health Tech / Home Care business → Nursing Care / Health Care Solution business → Nursing Care

## 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 | 688 | 11.7% | S100YLGZ |
| Capital expenditure | 123 | 2.1% | S100YLGZ |
| Free cash flow | 564 | 9.6% | 算出 |
| Investing cash flow | -700 | -11.9% | S100YLGZ |
| Financing cash flow | -331 | -5.6% | S100YLGZ |
| Dividends paid | 65 | 1.1% | S100YLGZ |
| Share buyback | 152 | 2.6% | S100YLGZ |
| Change in cash | -343 | -5.8% | S100YLGZ |
| Cash and equivalents | 1,957 | 33.2% | S100YLGZ |

## 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 | 1,131 | 1,107 | 1,564 | 2,300 | 1,957 | S100TRF5, S100W4X4, S100YLGZ |
| Total assets | 2,829 | 3,184 | 3,751 | 4,329 | 4,547 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Net assets | 1,245 | 1,288 | 1,388 | 1,647 | 1,789 | S100TRF5, S100W4X4, S100YLGZ |
| Share capital | 252 | 252 | 252 | 252 | 252 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Property, plant and equipment | 340 | 280 | 243 | 250 | 296 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Intangible assets excluding goodwill | 240 | 472 | 563 | 435 | 839 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Goodwill | 201 | 362 | 336 | 249 | 466 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Current assets | 1,951 | 2,049 | 2,603 | 3,307 | 3,081 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Current liabilities | 1,120 | 1,457 | 2,081 | 1,966 | 2,080 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Short-term borrowings | 300 | 400 | 650 | 750 | 750 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Long-term borrowings | 344 | 308 | 168 | 605 | 500 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Total liabilities | 1,584 | 1,896 | 2,363 | 2,682 | 2,758 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Equity attributable to owners of parent | 1,245 | 1,288 | 1,388 | 1,647 | 1,789 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Retained earnings | 798 | 822 | 952 | 1,158 | 1,350 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |
| Treasury stock | -43 | -23 | -56 | -0 | -52 | S100QW4N, S100TRF5, S100W4X4, S100YLGZ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 43% | S100YLGZ |
| Property, plant and equipment | 6% | S100YLGZ |
| Intangibles and goodwill | 29% | S100YLGZ |
| Other assets | 22% | S100YLGZ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 61% | S100YLGZ |
| Equity | 39% | S100YLGZ |
| Other liabilities | 0% | S100YLGZ |

### 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 | 2,829 | 3,184 | 3,751 | 4,329 | 4,547 |
| Equity | 1,245 | 1,288 | 1,388 | 1,647 | 1,789 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,131 | 1,107 | 1,564 | 2,300 | 1,957 |

## 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) | 5.0% | S100YLGZ |
| Fixed assets ÷ total assets | 6.5% | S100YLGZ |
| Goodwill ÷ parent equity | 26.1% | S100YLGZ |

Goodwill over 4 years: 201 → 466 JPY; total investing cash flow: -1,450 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) | 43.0% |
| Cash ÷ revenue | 33.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 128.1% |
| Cash vs. profit gap | 368 JPY mn (of net income 115.0%) |
| Shareholder returns / net income | 67.9% |
| Shareholder returns / FCF | 38.5% |
| Shareholder payments — dividends / net income | 20.5% |
| Shareholder payments — dividends / FCF | 11.6% |
| CapEx intensity (capex ÷ revenue) | 2.1% |
| Investing CF relative to operating CF | 101.7% |

## 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 | 4.5% | 1.47× | 6.6% | 2.27× | 15.0% | S100QW4N |
| 2023 | 0.8% | 1.48× | 1.1% | 2.37× | 2.7% | S100TRF5 |
| 2024 | 2.6% | 1.43× | 3.8% | 2.59× | 9.8% | S100W4X4 |
| 2025 | 4.9% | 1.28× | 6.3% | 2.66× | 16.8% | S100YLGZ |
| 2026 | 5.4% | 1.33× | 7.2% | 2.58× | 18.6% | S100YLGZ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社別宮圭一事務所 | Major shareholder | 19.1% | 2026-03-31 |
| 大同生命保険株式会社 | Major shareholder | 7.5% | 2026-03-31 |
| 別宮 圭一 | Major shareholder | 5.3% | 2026-03-31 |
| 藤澤 卓 | Major shareholder | 5.1% | 2026-03-31 |
| キユーピー株式会社 | Major shareholder | 4.5% | 2026-03-31 |
| 永井 詳二 | Major shareholder | 3.0% | 2026-03-31 |
| 星野 健治 | Major shareholder | 2.2% | 2026-03-31 |
| 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 | 2.1% | 2026-03-31 |
| 別宮 均 | Major shareholder | 1.5% | 2026-03-31 |
| インターネットインフィニティー従業員持株会 | Major shareholder | 1.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第22期(2025/04/01－2026/03/31) | S100YLGZ | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLGZ,, |
| 有価証券報告書－第21期(2024/04/01－2025/03/31) | S100W4X4 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4X4,, |
| 有価証券報告書－第20期(2023/04/01－2024/03/31) | S100TRF5 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRF5,, |
| 有価証券報告書－第19期(2022/04/01－2023/03/31) | S100QW4N | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QW4N,, |
| 有価証券報告書－第18期(令和3年4月1日－令和4年3月31日) | S100OGWT | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OGWT,, |
| 有価証券報告書－第17期(令和2年4月1日－令和3年3月31日) | S100LMYZ | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMYZ,, |

## 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).