# J ESCOM HOLDINGS,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21期(2025/04/01－2026/03/31) (S100YHI1)
> Page: https://vizora.meequs.com/en/company/j-escom-holdings
> Retrieved: 2026-09-30T21:04:09.506Z

## Company

J Escom Holdings, founded in 1968, is a company in Events & Ticketing listed on TSE Standard. It has 55 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | J ESCOM HOLDINGS,INC. |
| Ticker | 3779 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3779.T) |
| Listing | TSE Standard |
| Head office | 東京都港区赤坂六丁目15番11号 |
| Representative (per filing) | 代表取締役社長 大谷 利興 |
| Founded | May 1968 |
| Share capital | ¥50M |
| Employees (consolidated) | 55 |
| Average salary (parent only) | ¥7.9M |
| Fiscal year end | March |
| Corporate number | 4010401059201 |
| EDINET | E05543 |
| Industries (Vizora) | Events & Ticketing, Advertising, Catalog & TV Shopping |

> Profile source: annual securities report (S100YHI1, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 18 | 86 |
| Cash conversion | 0.7 | 75 |
| Efficiency | 13.4 | 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 55% of J Escom Holdings's sales come from digital marketing business, with the mail order business and advertising agency business making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +7.1% from the prior year, and it swung back to an operating profit.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥1.41B |  |
| Operating income | ¥12.8M | Margin 0.9% |
| Net income | -¥53.8M | Margin -3.8% |
| Free cash flow | -¥316.4M |  |
| Largest business | digital marketing business | of segment revenue 55.1% |
| Employees (consolidated) | 55 |  |
| EPS | ¥-0.15 |  |
| Book value per share | ¥23.24 |  |
| Equity ratio | 31.5% |  |
| Shares outstanding | 11,567,000 |  |
| Treasury shares | 300 |  |
| Shareholders | 4,184 |  |
| Average salary (parent only) | ¥7.9M | Filing company only |
| Cash ratio | 41.9% | Cash ÷ revenue 52.8% |
| Vs. industry median margin | -4.7 pp | Advertising |
| ROA | -2.2% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +92% over five years
- FY2026, one segment accounts for 62% of positive segment profit
- FY2026, segment profit share differs by 32 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1052951000 | ¥1412199000 | +34.1% |
| Operating income | ¥23643000 | ¥12791000 | -45.9% |
| Operating margin | 2.2% | 0.9% | -1.3 pp |
| Employees | 22 people | 55 people | +150.0% |
| Cash and equivalents | ¥414744000 | ¥745483000 | +79.7% |

### 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 |
| --- | ---: |
| 通信販売事業 → 通信販売事業 | 40.4% |
| 通信販売事業 → 事業再編・廃止 | 38.3% |
| 理美容事業 → 事業再編・廃止 | 16.3% |
| コンサルティング事業 → 事業再編・廃止 | 4.9% |
| その他 → その他 | 0.1% |
| 新設・再編 → デジタルマーケティング事業 | 55.1% |
| 新設・再編 → 広告代理事業 | 2.3% |
| 新設・再編 → その他 | 2.1% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| digital marketing business | 3 years | +1.3% | ¥777637000 | -6.8% | 2 |
| the mail order business | 5 years | -7.2% | ¥570080000 | 9.6% | 2 |
| advertising agency business | — | — | ¥32917000 | 92.9% | 2 |
| Other | 5 years | +101.2% | ¥31562000 | 9.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,412 | 100.0% | S100YHI1 |
| Cost of revenue | 557 | 39.5% | S100YHI1 |
| Gross profit | 855 | 60.5% | S100YHI1 |
| SG&A | 842 | 59.6% | S100YHI1 |
| Operating income | 13 | 0.9% | S100YHI1 |
| Ordinary income | 12 | 0.8% | S100YHI1 |
| Pretax income | -31 | -2.2% | S100YHI1 |
| Income tax | 14 | 1.0% | S100YHI1 |
| Net income | -45 | -3.2% | S100YHI1 |
| Net income attributable to owners | -54 | -3.8% | S100YHI1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 39 |
| SG&A | 60 |
| Operating income | 1 |
| (Ref.) Net income | -4 |

### Margin funnel

Gross margin 60.5% → Operating margin 0.9% → Net margin -3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
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 | 1,319 | 1,412 | 93 | +7.1% |
| Gross profit | 870 | 855 | -16 | -1.8% |
| Operating income | -109 | 13 | 121 | — |
| Net income attributable to owners | 370 | -54 | -424 | -114.5% |
| Operating cash flow | 13 | -314 | -327 | -2443.8% |
| Free cash flow | -20 | -316 | -297 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,267 | 52 | 4.1% | 7 | 81 | 80 | S100LN13 |
| FY ending Mar 2021 | 1,053 | 24 | 2.2% | -17 | 31 | 31 | S100ODUU |
| FY ending Mar 2022 | 937 | 12 | 1.3% | 4 | -18 | -19 | S100R0TY |
| FY ending Mar 2023 | 1,617 | -63 | -3.9% | 41 | -127 | -145 | S100TU4J |
| FY ending Mar 2024 | 1,588 | -244 | -15.4% | -291 | -395 | -460 | S100WQBC |
| FY ending Mar 2025 | 1,319 | -109 | -8.2% | 370 | 13 | -20 | S100YHI1 |
| FY ending Mar 2026 | 1,412 | 13 | 0.9% | -54 | -314 | -316 | S100YHI1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥25.7M |
| Operating income per employee (consolidated) | ¥232.6K |
| Net income per employee (consolidated) | -¥977.6K |

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) | 24 | 93 | 72 | 59 | 55 |
| Average salary (parent company) | ¥4.1M | ¥4.3M | ¥4.4M | ¥7.9M | ¥7.9M |
| Average age (parent company) | 37.5 years | 38.5 years | 42.7 years | 44.3 years | 39.3 years |
| Average tenure (parent company) | 5.8 years | 6.8 years | 5.2 years | 4.7 years | 5.4 years |

Year over year: Employees (consolidated) -6.8% · Revenue (consolidated) +7.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| the mail order business | 570 | 40.4% | 55 | 9.6% |
| digital marketing business | 778 | 55.1% | -53 | -6.8% |
| advertising agency business | 33 | 2.3% | 31 | 92.9% |
| Other | 32 | 2.2% | 3 | 9.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| the mail order business | 40.4% | 61.9% | 21.5 | 9.6% |
| digital marketing business | 55.1% | — | — | -6.8% |
| advertising agency business | 2.3% | 34.7% | 32.4 | 92.9% |
| Other | 2.2% | 3.4% | 1.2 | 9.5% |

Loss-making segment (excluded from profit shares): digital marketing business -53 JPY mn

Segment → industry: advertising agency business → Events & Ticketing / advertising agency business → Advertising / digital marketing business → Advertising / the mail order business → Catalog & TV Shopping

## 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 | -314 | -22.2% | S100YHI1 |
| Capital expenditure | 3 | 0.2% | S100YHI1 |
| Free cash flow | -316 | -22.4% | 算出 |
| Investing cash flow | 270 | 19.1% | S100YHI1 |
| Financing cash flow | -424 | -30.0% | S100YHI1 |
| Change in cash | -451 | -32.0% | S100YHI1 |
| Cash and equivalents | 745 | 52.8% | S100YHI1 |

## 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 | 396 | 1,138 | 748 | 1,197 | 745 | S100TU4J, S100WQBC, S100YHI1 |
| Total assets | 512 | 2,822 | 2,373 | 3,192 | 1,781 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Net assets | 372 | 627 | 361 | 731 | 680 | S100TU4J, S100WQBC, S100YHI1 |
| Share capital | 1,060 | 1,116 | 50 | 50 | 50 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Inventories | 5 | 4 | 4 | — | — | S100R0TY, S100TU4J, S100WQBC |
| Property, plant and equipment | 5 | 38 | 55 | 46 | 5 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Intangible assets excluding goodwill | 0 | 21 | 21 | 21 | 0 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Current assets | 489 | 2,478 | 1,896 | 3,066 | 1,701 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Current liabilities | 135 | 1,878 | 1,941 | 2,448 | 1,092 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Trade payables | 108 | 217 | 134 | 87 | 92 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Short-term borrowings | — | — | 111 | 208 | 100 | S100WQBC, S100YHI1 |
| Long-term borrowings | — | 312 | — | — | — | S100TU4J |
| Total liabilities | 140 | 2,195 | 2,012 | 2,460 | 1,101 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Non-controlling interests | — | 102 | 116 | 115 | 118 | S100TU4J, S100WQBC, S100YHI1 |
| Equity attributable to owners of parent | 372 | 525 | 228 | 599 | 545 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Retained earnings | -1,310 | -1,269 | -199 | 172 | 118 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100R0TY, S100TU4J, S100WQBC, S100YHI1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 42% | S100YHI1 |
| Property, plant and equipment | 0% | S100YHI1 |
| Other assets | 58% | S100YHI1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YHI1 |
| Other liabilities | 57% | S100YHI1 |
| Equity | 38% | S100YHI1 |
| Other liabilities | 0% | S100YHI1 |

### 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 | 512 | 2,822 | 2,373 | 3,192 | 1,781 |
| Equity | 372 | 627 | 361 | 731 | 680 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 396 | 1,138 | 748 | 1,197 | 745 |

## 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) | 0.3% | S100YHI1 |
| Fixed assets ÷ total assets | 0.3% | S100YHI1 |
| Goodwill ÷ parent equity | — | —, S100YHI1 |

### 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) | 41.9% |
| Cash ÷ revenue | 52.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -2451.2% |
| Cash vs. profit gap | -260 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.2% |
| 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 | 0.4% | 1.83× | 0.8% | 1.38× | 1.1% | S100R0TY |
| 2023 | 2.6% | 0.97× | 2.5% | 3.71× | 9.2% | S100TU4J |
| 2024 | — | —× | -11.2% | —× | — | S100WQBC |
| 2025 | 28.1% | 0.47× | 13.3% | 6.73× | 89.6% | S100YHI1 |
| 2026 | — | —× | -2.2% | —× | — | S100YHI1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ＫＪＣインター | Major shareholder | 30.5% | 2026-03-31 |
| 株式会社ベータグリッド | Major shareholder | 9.7% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 5.0% | 2026-03-31 |
| 株式会社ジャック | Major shareholder | 4.9% | 2026-03-31 |
| 佐藤 公彦 | Major shareholder | 4.3% | 2026-03-31 |
| 大木 塁 | Major shareholder | 2.9% | 2026-03-31 |
| 菅 智茂 | Major shareholder | 1.9% | 2026-03-31 |
| 辻 貴滋 | Major shareholder | 1.4% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.4% | 2026-03-31 |
| 宗田 こずえ | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第21期(2025/04/01－2026/03/31) | S100YHI1 | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHI1,, |
| 訂正有価証券報告書－第20期(2024/04/01－2025/03/31) | S100WQBC | 2025-09-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQBC,, |
| 有価証券報告書－第19期(2023/04/01－2024/03/31) | S100TU4J | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TU4J,, |
| 有価証券報告書－第18期(2022/04/01－2023/03/31) | S100R0TY | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0TY,, |
| 有価証券報告書－第17期(令和3年4月1日－令和4年3月31日) | S100ODUU | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODUU,, |
| 有価証券報告書－第16期(令和2年4月1日－令和3年3月31日) | S100LN13 | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN13,, |

## 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).