# Izu Shaboten Resort Co.,Ltd: 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51期(2025/04/01－2026/03/31) (S100YLUW)
> Page: https://vizora.meequs.com/en/company/izu-shaboten-resort
> Retrieved: 2026-10-01T03:27:46.690Z

## Company

Izu Shaboten Resort, founded in 1976, is a company in Theme Parks & Leisure Facilities listed on TSE Standard. It has 176 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Izu Shaboten Resort Co.,Ltd |
| Ticker | 6819 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6819.T) |
| Listing | TSE Standard |
| Head office | 東京都港区南青山七丁目8番4号 |
| Representative (per filing) | 代表取締役社長 吉村 浩太郎 |
| Founded | Jan 1976 |
| Share capital | ¥146.1M |
| Employees (consolidated) | 176 |
| Average salary (parent only) | ¥4.7M |
| Fiscal year end | March |
| Website | www.izu-sr.co.jp (https://www.izu-sr.co.jp/) |
| Corporate number | 2010401089522 |
| EDINET | E01987 |
| Industries (Vizora) | Theme Parks & Leisure Facilities, Hotels & Inns |

> Profile source: annual securities report (S100YLUW, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Theme Parks & Leisure Facilities (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 79.2 | 12 |
| Profitability | 70.8 | 12 |
| Cash conversion | 45.8 | 12 |
| Efficiency | 79.2 | 12 |

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 65% of Izu Shaboten Resort's sales come from Leisure, with Anitouch and Hotel making up much of the rest.
- Out of every ¥100 of sales, about ¥21 is left as operating profit.
- Revenue changed +1.9% from the prior year, operating profit -2.0%.

## Company structure

- Segment revenue mix: Leisure 65.5%、Anitouch 21.9%、Hotel 12.6%、Other 0.0%
- Revenue → net income: ¥5591906000 → ¥839823000
- Net income → operating cash flow: ¥839823000 → ¥1310394000（difference ¥470571000）
- Main uses of operating cash flow: CapEx ¥323470000 / dividends ¥273565000 / buybacks —
- Change in cash: ¥461908000
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 | ¥5.59B |  |
| Operating income | ¥1.17B | Margin 20.9% |
| Net income | ¥839.8M | Margin 15.0% |
| Free cash flow | ¥986.9M |  |
| Largest business | Leisure | of segment revenue 65.5% |
| Employees (consolidated) | 176 |  |
| EPS | ¥22.6 |  |
| Diluted EPS | ¥22.44 |  |
| Book value per share | ¥141.77 |  |
| Equity ratio | 81.2% |  |
| Shares outstanding | 18,572,768 |  |
| Treasury shares | 23,900 |  |
| Shareholders | 17,147 |  |
| Average salary (parent only) | ¥4.7M | Filing company only |
| Cash ratio | 30.2% | Cash ÷ revenue 42.1% |
| Vs. industry median margin | +7 pp | Theme Parks & Leisure Facilities |
| ROE | 13.9% | Derived from disclosed figures |
| ROA | 11.1% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 2.3× its level five years ago
- FY2026, one segment accounts for 69% of positive segment profit
- FY2026, cash is 30% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2149956000 | ¥5591906000 | +160.1% |
| Operating income | ¥130467000 | ¥1167134000 | +794.6% |
| Operating margin | 6.1% | 20.9% | +14.8 pp |
| Employees | 96 people | 176 people | +83.3% |
| Cash and equivalents | ¥1189716000 | ¥2356799000 | +98.1% |

### 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 |
| --- | ---: |
| 新設・再編 → レジャー事業 | 65.5% |
| 新設・再編 → アニタッチ事業 | 21.9% |
| 新設・再編 → ホテル事業 | 12.6% |
| 新設・再編 → その他 | 0.0% |

Segment revenue source references: 4 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Leisure | 3 years | +5.9% | ¥3662160000 | 22.1% | 2 |
| Anitouch | 3 years | +59.5% | ¥1226561000 | 27.8% | 2 |
| Hotel | 2 years | +4.0% | ¥703107000 | 3.4% | 2 |
| Other | 3 years | -69.6% | ¥77000 | -17611.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,592 | 100.0% | S100YLUW |
| Cost of revenue | 1,134 | 20.3% | S100YLUW |
| Gross profit | 4,458 | 79.7% | S100YLUW |
| SG&A | 3,291 | 58.8% | S100YLUW |
| Operating income | 1,167 | 20.9% | S100YLUW |
| Ordinary income | 1,212 | 21.7% | S100YLUW |
| Pretax income | 1,230 | 22.0% | S100YLUW |
| Income tax | 390 | 7.0% | S100YLUW |
| Net income | 840 | 15.0% | S100YLUW |
| Net income attributable to owners | 840 | 15.0% | S100YLUW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 20 |
| SG&A | 59 |
| Operating income | 21 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 79.7% → Operating margin 20.9% → Net margin 15.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.9%; Core profit growth: -2.0%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -1.08×
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 | 5,490 | 5,592 | 102 | +1.9% |
| Gross profit | 4,381 | 4,458 | 77 | +1.8% |
| Operating income | 1,191 | 1,167 | -24 | -2.0% |
| Net income attributable to owners | 907 | 840 | -67 | -7.4% |
| Operating cash flow | 1,454 | 1,310 | -143 | -9.9% |
| Free cash flow | 696 | 987 | 291 | +41.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 2,957 | 294 | 9.9% | 151 | 411 | -34 | S100LXE8 |
| FY ending Mar 2021 | 2,150 | 130 | 6.1% | 287 | 616 | 495 | S100O97D |
| FY ending Mar 2022 | 2,407 | 194 | 8.0% | 194 | 306 | 116 | S100R8YL |
| FY ending Mar 2023 | 3,390 | 644 | 19.0% | 477 | 983 | 653 | S100TVWV |
| FY ending Mar 2024 | 4,648 | 900 | 19.4% | 323 | 983 | 544 | S100W86V |
| FY ending Mar 2025 | 5,490 | 1,191 | 21.7% | 907 | 1,454 | 696 | S100YLUW |
| FY ending Mar 2026 | 5,592 | 1,167 | 20.9% | 840 | 1,310 | 987 | S100YLUW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥31.8M |
| Operating income per employee (consolidated) | ¥6.6M |
| Net income per employee (consolidated) | ¥4.8M |

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) | 114 | 138 | 182 | 170 | 176 |
| Average salary (parent company) | ¥5.2M | ¥6.2M | ¥6.4M | ¥6.4M | ¥4.7M |
| Average age (parent company) | 37.6 years | 38.6 years | 38.5 years | 39.5 years | 33.4 years |
| Average tenure (parent company) | 8.0 years | 9.0 years | 9.7 years | 10.7 years | 6.8 years |

Year over year: Employees (consolidated) +3.5% · Revenue (consolidated) +1.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Leisure | 3,662 | 65.5% | 808 | 22.1% |
| Anitouch | 1,227 | 21.9% | 341 | 27.8% |
| Hotel | 703 | 12.6% | 24 | 3.4% |
| Other | 0 | 0.0% | -14 | -17611.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Leisure | 65.5% | 68.9% | 3.4 | 22.1% |
| Anitouch | 21.9% | 29.1% | 7.1 | 27.8% |
| Hotel | 12.6% | 2.1% | -10.5 | 3.4% |
| Other | 0.0% | — | — | -17611.7% |

Loss-making segment (excluded from profit shares): Other -14 JPY mn

Segment → industry: Anitouch → Theme Parks & Leisure Facilities / Leisure → Theme Parks & Leisure Facilities / Hotel → Hotels & Inns

## 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 | 1,310 | 23.4% | S100YLUW |
| Capital expenditure | 323 | 5.8% | S100YLUW |
| Free cash flow | 987 | 17.6% | 算出 |
| Investing cash flow | -523 | -9.4% | S100YLUW |
| Financing cash flow | -327 | -5.8% | S100YLUW |
| Dividends paid | 274 | 4.9% | S100YLUW |
| Change in cash | 462 | 8.3% | S100YLUW |
| Cash and equivalents | 2,357 | 42.1% | S100YLUW |

## 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 | 827 | 1,751 | 1,770 | 1,895 | 2,357 | S100TVWV, S100W86V, S100YLUW |
| Total assets | 3,752 | 4,947 | 6,725 | 7,272 | 7,800 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Net assets | 2,783 | 3,278 | 4,944 | 5,762 | 6,342 | S100TVWV, S100W86V, S100YLUW |
| Share capital | 100 | 100 | 100 | 133 | 146 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Property, plant and equipment | 1,965 | 2,007 | 2,698 | 3,111 | 3,079 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Intangible assets excluding goodwill | 13 | 21 | 845 | 750 | 659 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Goodwill | — | — | 821 | 730 | 644 | S100W86V, S100YLUW |
| Investment securities | 198 | 205 | 158 | 195 | 189 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Current assets | 1,157 | 2,189 | 2,349 | 2,485 | 3,136 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Current liabilities | 303 | 634 | 739 | 778 | 750 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Long-term borrowings | 320 | 687 | 669 | 319 | 288 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Total liabilities | 970 | 1,669 | 1,781 | 1,510 | 1,457 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Equity attributable to owners of parent | 2,776 | 3,253 | 4,966 | 5,754 | 6,343 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Retained earnings | 2,263 | 2,740 | 3,063 | 3,788 | 4,351 | S100R8YL, S100TVWV, S100W86V, S100YLUW |
| Treasury stock | -12 | -12 | -15 | -17 | -17 | S100R8YL, S100TVWV, S100W86V, S100YLUW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100YLUW |
| Property, plant and equipment | 40% | S100YLUW |
| Intangibles and goodwill | 17% | S100YLUW |
| Investment securities | 2% | S100YLUW |
| Other assets | 11% | S100YLUW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 19% | S100YLUW |
| Equity | 81% | S100YLUW |

### 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 | 3,752 | 4,947 | 6,725 | 7,272 | 7,800 |
| Equity | 2,783 | 3,278 | 4,944 | 5,762 | 6,342 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 827 | 1,751 | 1,770 | 1,895 | 2,357 |

## 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) | 55.1% | S100YLUW |
| Fixed assets ÷ total assets | 39.5% | S100YLUW |
| Goodwill ÷ parent equity | 10.2% | S100YLUW |

### 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) | 30.2% |
| Cash ÷ revenue | 42.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 112.3% |
| Cash vs. profit gap | 471 JPY mn (of net income 56.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 32.6% |
| Shareholder payments — dividends / FCF | 27.7% |
| CapEx intensity (capex ÷ revenue) | 5.8% |
| Investing CF relative to operating CF | 39.9% |

## 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 | 8.1% | 0.64× | 5.2% | 1.35× | 7.0% | S100R8YL |
| 2023 | 14.1% | 0.78× | 11.0% | 1.44× | 15.8% | S100TVWV |
| 2024 | 7.0% | 0.80× | 5.5% | 1.42× | 7.9% | S100W86V |
| 2025 | 16.5% | 0.78× | 13.0% | 1.31× | 16.9% | S100YLUW |
| 2026 | 15.0% | 0.74× | 11.1% | 1.25× | 13.9% | S100YLUW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 山河企画有限会社 | Major shareholder | 7.3% | 2026-03-31 |
| 柏温泉リゾート株式会社 | Major shareholder | 6.5% | 2026-03-31 |
| 株式会社船カンショートコース | Major shareholder | 6.5% | 2026-03-31 |
| 株式会社トーテム | Major shareholder | 6.5% | 2026-03-31 |
| 株式会社広共 | Major shareholder | 4.9% | 2026-03-31 |
| 株式会社ＲＮＤ | Major shareholder | 3.8% | 2026-03-31 |
| ロイヤル観光有限会社 | Major shareholder | 3.5% | 2026-03-31 |
| 有限会社ＭＢＬ | Major shareholder | 3.4% | 2026-03-31 |
| 株式会社ハッピーリゾート | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社広共コーポレーション | Major shareholder | 2.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第51期(2025/04/01－2026/03/31) | S100YLUW | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLUW,, |
| 有価証券報告書－第50期(2024/04/01－2025/03/31) | S100W86V | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W86V,, |
| 有価証券報告書－第49期(2023/04/01－2024/03/31) | S100TVWV | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVWV,, |
| 有価証券報告書－第48期(2022/04/01－2023/03/31) | S100R8YL | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8YL,, |
| 有価証券報告書－第47期(令和3年4月1日－令和4年3月31日) | S100O97D | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O97D,, |
| 訂正有価証券報告書－第46期(令和2年4月1日－令和3年3月31日) | S100LXE8 | 2021-07-05 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LXE8,, |

## 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).