# Japan Lifeline 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46期(2025/04/01－2026/03/31) (S100YEH7)
> Page: https://vizora.meequs.com/en/company/japan-lifeline
> Retrieved: 2026-09-30T20:00:02.508Z

## Company

Japan Lifeline, founded in 1981, is a company in Medical Devices listed on TSE Prime. It has 1,304 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Japan Lifeline Co., Ltd. |
| Ticker | 7575 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7575.T) |
| Listing | TSE Prime |
| Head office | 東京都品川区東品川二丁目2番20号 |
| Representative (per filing) | 代表取締役社長CEO 鈴木 啓介 |
| Founded | Feb 1981 |
| Share capital | ¥2.12B |
| Employees (consolidated) | 1,304 |
| Average salary (parent only) | ¥9.6M |
| Fiscal year end | March |
| Website | www.jll.co.jp (https://www.jll.co.jp/) |
| Corporate number | 2010701020987 |
| EDINET | E02881 |
| Industries (Vizora) | Medical Devices |

> Profile source: annual securities report (S100YEH7, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Medical Devices (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 17.1 | 38 |
| Profitability | 80.8 | 39 |
| Cash conversion | 30.3 | 38 |
| Efficiency | 73.1 | 39 |

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)

- Japan Lifeline brought in ¥59.2B in revenue.
- Out of every ¥100 of sales, about ¥21 is left as operating profit.
- Revenue changed +4.6% from the prior year, operating profit +2.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥59187000000 → ¥9350000000
- Net income → operating cash flow: ¥9350000000 → ¥8172000000（difference ¥-1178000000）
- Main uses of operating cash flow: CapEx ¥1974000000 / dividends ¥3725000000 / buybacks —
- Change in cash: ¥1479000000
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 | ¥59.2B |  |
| Operating income | ¥12.6B | Margin 21.3% |
| Net income | ¥9.35B | Margin 15.8% |
| Free cash flow | ¥6.2B |  |
| Employees (consolidated) | 1,304 |  |
| EPS | ¥134.51 |  |
| Diluted EPS | ¥134.48 |  |
| Book value per share | ¥921.57 |  |
| Equity ratio | 82.1% |  |
| Shares outstanding | 71,300,000 |  |
| Treasury shares | 1,069,700 |  |
| Shareholders | 13,647 |  |
| Average salary (parent only) | ¥9.6M | Filing company only |
| Cash ratio | 15.6% | Cash ÷ revenue 21.1% |
| Vs. industry median margin | +10.2 pp | Medical Devices |
| ROE | 15.2% | Derived from disclosed figures |
| ROA | 12.0% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥51286000000 | ¥59187000000 | +15.4% |
| Operating income | ¥10367000000 | ¥12606000000 | +21.6% |
| Operating margin | 20.2% | 21.3% | +1.1 pp |
| Employees | 1,167 people | 1,304 people | +11.7% |
| Cash and equivalents | ¥13708000000 | ¥12494000000 | -8.9% |

### 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 | 59,187 | 100.0% | S100YEH7 |
| Cost of revenue | 24,013 | 40.6% | S100YEH7 |
| Gross profit | 35,174 | 59.4% | S100YEH7 |
| SG&A | 22,567 | 38.1% | S100YEH7 |
| Operating income | 12,606 | 21.3% | S100YEH7 |
| Ordinary income | 12,588 | 21.3% | S100YEH7 |
| Pretax income | 12,377 | 20.9% | S100YEH7 |
| Income tax | 3,027 | 5.1% | S100YEH7 |
| Net income | 9,350 | 15.8% | S100YEH7 |
| Net income attributable to owners | 9,350 | 15.8% | S100YEH7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 41 |
| SG&A | 38 |
| Operating income | 21 |
| (Ref.) Net income | 16 |

### Margin funnel

Gross margin 59.4% → Operating margin 21.3% → Net margin 15.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.6%; Core profit growth: +2.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.50×
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 | 56,610 | 59,187 | 2,577 | +4.6% |
| Gross profit | 34,191 | 35,174 | 983 | +2.9% |
| Operating income | 12,326 | 12,606 | 280 | +2.3% |
| Net income attributable to owners | 9,317 | 9,350 | 33 | +0.4% |
| Operating cash flow | 9,113 | 8,172 | -941 | -10.3% |
| Free cash flow | 7,514 | 6,198 | -1,316 | -17.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 51,761 | 10,434 | 20.2% | 7,748 | 7,096 | 4,526 | S100LQN6 |
| FY ending Mar 2021 | 51,286 | 10,367 | 20.2% | 2,000 | 11,432 | 10,339 | S100PBSV |
| FY ending Mar 2022 | 51,469 | 9,973 | 19.4% | 7,484 | 10,246 | 8,388 | S100R5NM |
| FY ending Mar 2023 | 51,750 | 10,837 | 20.9% | 6,891 | 11,201 | 9,472 | S100TNIA |
| FY ending Mar 2024 | 51,384 | 10,892 | 21.2% | 7,515 | 6,918 | 4,578 | S100VZ76 |
| FY ending Mar 2025 | 56,610 | 12,326 | 21.8% | 9,317 | 9,113 | 7,514 | S100YEH7 |
| FY ending Mar 2026 | 59,187 | 12,606 | 21.3% | 9,350 | 8,172 | 6,198 | S100YEH7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥45.4M |
| Operating income per employee (consolidated) | ¥9.7M |
| Net income per employee (consolidated) | ¥7.2M |

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) | 1,205 | 1,166 | 1,216 | 1,250 | 1,304 |
| Average salary (parent company) | ¥8.5M | ¥8.7M | ¥9M | ¥9.5M | ¥9.6M |
| Average age (parent company) | 40.5 years | 41.4 years | 41.9 years | 41.9 years | 42.1 years |
| Average tenure (parent company) | 10.2 years | 10.5 years | 10.8 years | 10.5 years | 10.2 years |

Year over year: Employees (consolidated) +4.3% · Revenue (consolidated) +4.6%

## 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 | 8,172 | 13.8% | S100YEH7 |
| Capital expenditure | 1,974 | 3.3% | S100YEH7 |
| Free cash flow | 6,198 | 10.5% | 算出 |
| Investing cash flow | -2,048 | -3.5% | S100YEH7 |
| Financing cash flow | -4,581 | -7.7% | S100YEH7 |
| Dividends paid | 3,725 | 6.3% | S100YEH7 |
| Change in cash | 1,479 | 2.5% | S100YEH7 |
| Cash and equivalents | 12,494 | 21.1% | S100YEH7 |

## 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 | 16,058 | 18,357 | 12,669 | 11,014 | 12,494 | S100TNIA, S100VZ76, S100YEH7 |
| Total assets | 73,197 | 74,641 | 73,509 | 75,123 | 80,211 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Net assets | 54,567 | 56,195 | 58,102 | 59,914 | 65,897 | S100TNIA, S100VZ76, S100YEH7 |
| Share capital | 2,115 | 2,115 | 2,115 | 2,115 | 2,115 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Trade receivables | 12,437 | 13,223 | 13,283 | 13,830 | 14,550 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Inventories | 14,850 | 13,142 | 15,154 | 17,961 | 20,129 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Property, plant and equipment | 12,911 | 12,452 | 13,434 | 13,285 | 13,911 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Intangible assets excluding goodwill | 1,470 | 2,414 | 2,292 | 1,910 | 1,564 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Investment securities | 6,850 | 5,498 | 7,601 | 7,374 | 7,350 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Current assets | 45,153 | 47,130 | 42,871 | 44,336 | 49,046 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Current liabilities | 14,211 | 14,381 | 14,175 | 14,334 | 13,597 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Trade payables | 3,287 | 3,429 | 4,254 | 4,358 | 4,432 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Short-term borrowings | 5,300 | 5,000 | 3,500 | 3,500 | 2,900 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Long-term borrowings | 1,104 | 536 | 120 | — | — | S100R5NM, S100TNIA, S100VZ76 |
| Total liabilities | 18,629 | 18,445 | 15,406 | 15,208 | 14,314 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Equity attributable to owners of parent | 54,362 | 56,265 | 57,516 | 58,675 | 64,409 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Retained earnings | 38,890 | 42,741 | 47,291 | 53,455 | 59,083 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |
| Treasury stock | -1,496 | -2,365 | -756 | -5,784 | -1,208 | S100R5NM, S100TNIA, S100VZ76, S100YEH7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100YEH7 |
| Receivables | 18% | S100YEH7 |
| Inventories | 25% | S100YEH7 |
| Property, plant and equipment | 17% | S100YEH7 |
| Intangibles and goodwill | 2% | S100YEH7 |
| Investment securities | 9% | S100YEH7 |
| Other assets | 13% | S100YEH7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YEH7 |
| Other liabilities | 12% | S100YEH7 |
| Equity | 82% | S100YEH7 |

### 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 | 73,197 | 74,641 | 73,509 | 75,123 | 80,211 |
| Equity | 54,567 | 56,195 | 58,102 | 59,914 | 65,897 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 16,058 | 18,357 | 12,669 | 11,014 | 12,494 |

## 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) | 23.5% | S100YEH7 |
| Fixed assets ÷ total assets | 17.3% | S100YEH7 |
| Goodwill ÷ parent equity | — | —, S100YEH7 |

### 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) | 15.6% |
| Cash ÷ revenue | 21.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 64.8% |
| Cash vs. profit gap | -1,178 JPY mn (of net income -12.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 39.8% |
| Shareholder payments — dividends / FCF | 60.1% |
| CapEx intensity (capex ÷ revenue) | 3.3% |
| Investing CF relative to operating CF | 25.1% |

## 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 | 14.5% | 0.70× | 10.2% | 1.35× | 13.8% | S100R5NM |
| 2023 | 13.3% | 0.70× | 9.3% | 1.34× | 12.5% | S100TNIA |
| 2024 | 14.6% | 0.69× | 10.1% | 1.30× | 13.2% | S100VZ76 |
| 2025 | 16.5% | 0.76× | 12.5% | 1.28× | 16.0% | S100YEH7 |
| 2026 | 15.8% | 0.76× | 12.0% | 1.26× | 15.2% | S100YEH7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| KS商事株式会社 | Major shareholder | 15.8% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 10.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 10.4% | 2026-03-31 |
| SG/UCITS V/INV （常任代理人 香港上海銀行東京支店 セキュリティーズ・サービシズ・オペレーションズ部長 角田 武士） | Major shareholder | 2.7% | 2026-03-31 |
| BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS （常任代理人 香港上海銀行東京支店 セキュリティーズ・サービシズ・オペレーションズ部長 角田 武士） | Major shareholder | 2.1% | 2026-03-31 |
| 日本ライフライン従業員持株会 | Major shareholder | 2.1% | 2026-03-31 |
| M.S MEDICAL株式会社 | Major shareholder | 1.4% | 2026-03-31 |
| 株式会社RMアセットマネジメント | Major shareholder | 1.4% | 2026-03-31 |
| エムティ商会株式会社 | Major shareholder | 1.4% | 2026-03-31 |
| 株式会社MSJ商会 | Major shareholder | 1.4% | 2026-03-31 |
| MM商会株式会社 | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第46期(2025/04/01－2026/03/31) | S100YEH7 | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEH7,, |
| 有価証券報告書－第45期(2024/04/01－2025/03/31) | S100VZ76 | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ76,, |
| 有価証券報告書－第44期(2023/04/01－2024/03/31) | S100TNIA | 2024-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNIA,, |
| 有価証券報告書－第43期(2022/04/01－2023/03/31) | S100R5NM | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5NM,, |
| 訂正有価証券報告書－第42期(令和3年4月1日－令和4年3月31日) | S100PBSV | 2022-10-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PBSV,, |
| 有価証券報告書－第41期(令和2年4月1日－令和3年3月31日) | S100LQN6 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQN6,, |

## 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).