# itsumo.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19期(2025/04/01－2026/03/31) (S100YI9F)
> Page: https://vizora.meequs.com/en/company/itsumo
> Retrieved: 2026-09-30T21:31:16.713Z

## Company

itsumo., founded in 2007, is a company in Advertising listed on TSE Growth. It has 212 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | itsumo.inc. |
| Ticker | 7694 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7694.T) |
| Listing | TSE Growth |
| Head office | 東京都千代田区有楽町一丁目13番2号 |
| Representative (per filing) | 代表取締役社長 坂本 守 |
| Founded | Feb 2007 |
| Share capital | ¥758.5M |
| Employees (consolidated) | 212 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | March |
| Website | itsumo365.co.jp (https://itsumo365.co.jp/) |
| Corporate number | 4010401074282 |
| EDINET | E36123 |
| Industries (Vizora) | Advertising |

> Profile source: annual securities report (S100YI9F, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 22.7 | 86 |
| Cash conversion | 2 | 75 |
| Efficiency | 85.5 | 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)

- itsumo. brought in ¥17.9B in revenue.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +28.2% from the prior year, operating profit +262.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥17.9B |  |
| Operating income | ¥269.7M | Margin 1.5% |
| Net income | ¥158M | Margin 0.9% |
| Free cash flow | -¥1.72B |  |
| Employees (consolidated) | 212 |  |
| EPS | ¥64.75 |  |
| Diluted EPS | ¥64.02 |  |
| Book value per share | ¥481.57 |  |
| Equity ratio | 26.4% |  |
| Shares outstanding | 5,953,358 |  |
| Treasury shares | 8,400 |  |
| Shareholders | 2,398 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 9.7% | Cash ÷ revenue 5.2% |
| Vs. industry median margin | -4.1 pp | Advertising |
| ROE | 6.5% | Derived from disclosed figures |
| ROA | 1.7% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -11% while operating income rose 262%
- FY2026, parent-company salary changed +36% 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 | ¥8797169000 | ¥17878317000 | — |
| Operating income | ¥526435000 | ¥269652000 | — |
| Operating margin | 6.0% | 1.5% | -4.5 pp |
| Employees | 175 people | 212 people | — |
| Cash and equivalents | ¥2757340000 | ¥928548000 | — |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 17,878 | 100.0% | S100YI9F |
| Cost of revenue | 11,141 | 62.3% | S100YI9F |
| Gross profit | 6,737 | 37.7% | S100YI9F |
| SG&A | 6,467 | 36.2% | S100YI9F |
| Operating income | 270 | 1.5% | S100YI9F |
| Ordinary income | 250 | 1.4% | S100YI9F |
| Pretax income | 281 | 1.6% | S100YI9F |
| Income tax | 123 | 0.7% | S100YI9F |
| Net income | 158 | 0.9% | S100YI9F |
| Net income attributable to owners | 158 | 0.9% | S100YI9F |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 62 |
| SG&A | 36 |
| Operating income | 2 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 37.7% → Operating margin 1.5% → Net margin 0.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +28.2%; Core profit growth: +262.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 9.29×
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 | 13,941 | 17,878 | 3,937 | +28.2% |
| Gross profit | 5,154 | 6,737 | 1,583 | +30.7% |
| Operating income | 74 | 270 | 195 | +262.3% |
| Net income attributable to owners | -98 | 158 | 256 | — |
| Operating cash flow | 65 | -1,555 | -1,620 | -2480.6% |
| Free cash flow | -136 | -1,723 | -1,587 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 5,262 | 170 | 3.2% | 144 | 235 | 196 | S100LTA4 |
| FY ending Mar 2021 | 8,797 | 526 | 6.0% | 420 | 668 | 649 | S100LTA4 |
| FY ending Mar 2022 | 11,653 | 604 | 5.2% | 361 | 400 | 365 | S100R8D5 |
| FY ending Mar 2023 | 12,310 | 314 | 2.6% | -220 | -344 | -354 | S100TV15 |
| FY ending Mar 2024 | 13,862 | 320 | 2.3% | 259 | -609 | -900 | S100W4K6 |
| FY ending Mar 2025 | 13,941 | 74 | 0.5% | -98 | 65 | -136 | S100YI9F |
| FY ending Mar 2026 | 17,878 | 270 | 1.5% | 158 | -1,555 | -1,723 | S100YI9F |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥84.3M |
| Operating income per employee (consolidated) | ¥1.3M |
| Net income per employee (consolidated) | ¥745.2K |

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) | 248 | 273 | 279 | 239 | 212 |
| Average salary (parent company) | ¥4.1M | ¥4.6M | ¥4.8M | ¥5.2M | ¥5.6M |
| Average age (parent company) | 31.8 years | 31.6 years | 32.3 years | 32.8 years | 33.0 years |
| Average tenure (parent company) | 2.1 years | 3.2 years | 3.5 years | 4.3 years | 4.3 years |

Year over year: Employees (consolidated) -11.3% · Revenue (consolidated) +28.2%

## 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 | -1,555 | -8.7% | S100YI9F |
| Capital expenditure | 169 | 0.9% | S100YI9F |
| Free cash flow | -1,723 | -9.6% | 算出 |
| Investing cash flow | -168 | -0.9% | S100YI9F |
| Financing cash flow | -281 | -1.6% | S100YI9F |
| Change in cash | -2,004 | -11.2% | S100YI9F |
| Cash and equivalents | 929 | 5.2% | S100YI9F |

## 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 | 4,122 | 2,698 | 2,133 | 2,932 | 929 | S100TV15, S100W4K6, S100YI9F |
| Total assets | 6,927 | 6,598 | 7,422 | 8,610 | 9,558 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Net assets | 2,408 | 2,198 | 2,447 | 2,363 | 2,539 | S100TV15, S100W4K6, S100YI9F |
| Share capital | 737 | 742 | 748 | 754 | 758 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Property, plant and equipment | 20 | 14 | 295 | 230 | 174 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Intangible assets excluding goodwill | 391 | 421 | 475 | 567 | 608 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Goodwill | 327 | 380 | 332 | 269 | 213 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Investment securities | — | 20 | 158 | 158 | 150 | S100TV15, S100W4K6, S100YI9F |
| Current assets | 6,060 | 5,556 | 5,761 | 6,731 | 7,688 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Current liabilities | 2,584 | 2,829 | 3,317 | 3,840 | 5,029 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Short-term borrowings | 300 | 300 | 600 | 700 | 1,000 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Long-term borrowings | 1,931 | 1,567 | 1,512 | 2,261 | 1,843 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Total liabilities | 4,519 | 4,400 | 4,975 | 6,246 | 7,019 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Equity attributable to owners of parent | 2,408 | 2,198 | 2,447 | 2,360 | 2,527 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Retained earnings | 946 | 726 | 962 | 864 | 1,022 | S100R8D5, S100TV15, S100W4K6, S100YI9F |
| Treasury stock | — | -0 | -0 | -0 | -0 | S100TV15, S100W4K6, S100YI9F |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YI9F |
| Property, plant and equipment | 2% | S100YI9F |
| Intangibles and goodwill | 9% | S100YI9F |
| Investment securities | 1% | S100YI9F |
| Other assets | 78% | S100YI9F |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 73% | S100YI9F |
| Equity | 27% | S100YI9F |

### 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 | 6,927 | 6,598 | 7,422 | 8,610 | 9,558 |
| Equity | 2,408 | 2,198 | 2,447 | 2,363 | 2,539 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,122 | 2,698 | 2,133 | 2,932 | 929 |

## 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) | 1.0% | S100YI9F |
| Fixed assets ÷ total assets | 1.8% | S100YI9F |
| Goodwill ÷ parent equity | 8.4% | S100YI9F |

Goodwill over 4 years: 327 → 213 JPY; total investing cash flow: -2,586 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) | 9.7% |
| Cash ÷ revenue | 5.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -576.6% |
| Cash vs. profit gap | -1,713 JPY mn (of net income -1084.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.9% |
| Investing CF relative to operating CF | — |

## 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 | 3.1% | 1.68× | 5.2% | 2.88× | 15.0% | S100R8D5 |
| 2023 | — | —× | -3.3% | —× | — | S100TV15 |
| 2024 | 1.9% | 1.98× | 3.7% | 3.02× | 11.1% | S100W4K6 |
| 2025 | — | —× | -1.2% | —× | — | S100YI9F |
| 2026 | 0.9% | 1.97× | 1.7% | 3.72× | 6.5% | S100YI9F |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社つづく | Major shareholder | 40.4% | 2026-03-31 |
| 株式会社望月智之事務所 | Major shareholder | 20.2% | 2026-03-31 |
| 坂本 守 | Major shareholder | 4.2% | 2026-03-31 |
| 望月 智之 | Major shareholder | 2.8% | 2026-03-31 |
| ＭＳＩＰ ＣＬＩＥＮＴ ＳＥＣＵＲＩＴＩＥＳ （常任代理人 モルガン・スタンレーＭＵＦＧ証券株式会社） | Major shareholder | 1.6% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 0.8% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.7% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５１０３７１ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 0.7% | 2026-03-31 |
| 高木 修 | Major shareholder | 0.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第19期(2025/04/01－2026/03/31) | S100YI9F | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI9F,, |
| 有価証券報告書－第18期(2024/04/01－2025/03/31) | S100W4K6 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4K6,, |
| 有価証券報告書－第17期(2023/04/01－2024/03/31) | S100TV15 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TV15,, |
| 有価証券報告書－第16期(2022/04/01－2023/03/31) | S100R8D5 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8D5,, |
| 有価証券報告書－第15期(令和3年4月1日－令和4年3月31日) | S100OIB3 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIB3,, |
| 有価証券報告書－第14期(令和2年4月1日－令和3年3月31日) | S100LTA4 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LTA4,, |

## 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).