# JASON CO.,LTD.: business model and financials

> Latest period: FY ending Feb 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第41期(2025/03/01－2026/02/28) (S100Y69Z)
> Page: https://vizora.meequs.com/en/company/jason
> Retrieved: 2026-09-30T21:31:15.690Z

## Company

Jason, founded in 1973, is a company in Supermarkets listed on TSE Standard. It has 181 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | JASON CO.,LTD. |
| Ticker | 3080 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3080.T) |
| Listing | TSE Standard |
| Head office | 千葉県柏市大津ヶ丘二丁目8番5号 |
| Representative (per filing) | 代表取締役社長兼会長 太田 万三彦 |
| Founded | Jul 1973 |
| Share capital | ¥320.3M |
| Employees (consolidated) | 181 |
| Average salary (parent only) | ¥4.8M |
| Fiscal year end | February |
| Website | jason.co.jp (https://jason.co.jp/) |
| Corporate number | 7040001067160 |
| EDINET | E03509 |
| Industries (Vizora) | Supermarkets |

> Profile source: annual securities report (S100Y69Z, filed 2026-05-26). As of filing

## Five-axis industry profile

Primary industry: Supermarkets (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 32.2 | 45 |
| Profitability | 9.2 | 49 |
| Cash conversion | 43.6 | 47 |
| Efficiency | 84.7 | 49 |

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)

- Jason brought in ¥28.6B in revenue.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +1.1% from the prior year, operating profit -62.7%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥28.6B |  |
| Operating income | ¥200.9M | Margin 0.7% |
| Net income | -¥201.8M | Margin -0.7% |
| Free cash flow | -¥48.8M |  |
| Employees (consolidated) | 181 |  |
| EPS | ¥-23.17 |  |
| Book value per share | ¥446.2 |  |
| Equity ratio | 54.5% |  |
| Shares outstanding | 12,812,000 |  |
| Treasury shares | 200 |  |
| Shareholders | 5,060 |  |
| Average salary (parent only) | ¥4.8M | Filing company only |
| Cash ratio | 27.8% | Cash ÷ revenue 10.6% |
| Vs. industry median margin | -2.1 pp | Supermarkets |
| ROA | -1.9% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 28% of total assets

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥26549119000 | ¥28604828000 | +7.7% |
| Operating income | ¥1247291000 | ¥200884000 | -83.9% |
| Operating margin | 4.7% | 0.7% | -4 pp |
| Employees | 194 people | 181 people | -6.7% |
| Cash and equivalents | ¥3459482000 | ¥3019184000 | -12.7% |

### Change in segment revenue mix

Span: FY ending Feb 2021 → FY ending Feb 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 28,605 | 100.0% | S100Y69Z |
| Cost of revenue | 21,188 | 74.1% | S100Y69Z |
| Gross profit | 7,416 | 25.9% | S100Y69Z |
| SG&A | 7,215 | 25.2% | S100Y69Z |
| Operating income | 201 | 0.7% | S100Y69Z |
| Ordinary income | 248 | 0.9% | S100Y69Z |
| Pretax income | -77 | -0.3% | S100Y69Z |
| Income tax | 125 | 0.4% | S100Y69Z |
| Net income | -202 | -0.7% | S100Y69Z |
| Net income attributable to owners | -202 | -0.7% | S100Y69Z |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 74 |
| SG&A | 25 |
| Operating income | 1 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 25.9% → Operating margin 0.7% → Net margin -0.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.1%; Core profit growth: -62.7%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -57.77×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Feb 2025 → FY ending Feb 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 28,298 | 28,605 | 307 | +1.1% |
| Gross profit | 7,308 | 7,416 | 108 | +1.5% |
| Operating income | 539 | 201 | -338 | -62.7% |
| Net income attributable to owners | 346 | -202 | -547 | -158.4% |
| Operating cash flow | 589 | 271 | -318 | -54.0% |
| Free cash flow | 194 | -49 | -243 | -125.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 24,369 | 747 | 3.1% | 493 | 755 | 649 | S100LEZN |
| FY ending Feb 2021 | 26,549 | 1,247 | 4.7% | 805 | 1,117 | 1,086 | S100O4MK |
| FY ending Feb 2022 | 26,275 | 872 | 3.3% | 570 | 362 | 277 | S100QUXW |
| FY ending Feb 2023 | 27,226 | 801 | 2.9% | 600 | 673 | 569 | S100TIS7 |
| FY ending Feb 2024 | 28,740 | 876 | 3.0% | 603 | 552 | 468 | S100VUA9 |
| FY ending Feb 2025 | 28,298 | 539 | 1.9% | 346 | 589 | 194 | S100Y69Z |
| FY ending Feb 2026 | 28,605 | 201 | 0.7% | -202 | 271 | -49 | S100Y69Z |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥158M |
| Operating income per employee (consolidated) | ¥1.1M |
| Net income per employee (consolidated) | -¥1.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 207 | 196 | 194 | 165 | 181 |
| Average salary (parent company) | ¥4.3M | ¥4.7M | ¥4.3M | ¥4.7M | ¥4.8M |
| Average age (parent company) | 38.6 years | 38.9 years | 39.4 years | 40.1 years | 41.7 years |
| Average tenure (parent company) | 10.9 years | 10.8 years | 11.0 years | 12.0 years | 12.2 years |

Year over year: Employees (consolidated) +9.7% · Revenue (consolidated) +1.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Feb 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 271 | 0.9% | S100Y69Z |
| Capital expenditure | 320 | 1.1% | S100Y69Z |
| Free cash flow | -49 | -0.2% | 算出 |
| Investing cash flow | -693 | -2.4% | S100Y69Z |
| Financing cash flow | -355 | -1.2% | S100Y69Z |
| Dividends paid | 166 | 0.6% | S100Y69Z |
| Change in cash | -777 | -2.7% | S100Y69Z |
| Cash and equivalents | 3,019 | 10.6% | S100Y69Z |

## 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 3,439 | 3,746 | 3,927 | 3,796 | 3,019 | S100TIS7, S100VUA9, S100Y69Z |
| Total assets | 9,742 | 10,405 | 10,766 | 10,859 | 10,875 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Net assets | 5,251 | 5,685 | 6,121 | 6,300 | 5,932 | S100TIS7, S100VUA9, S100Y69Z |
| Share capital | 320 | 320 | 320 | 320 | 320 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Property, plant and equipment | 1,976 | 2,084 | 2,018 | 2,292 | 2,380 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Intangible assets excluding goodwill | 159 | 159 | 160 | 158 | 158 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Goodwill | 1 | 1 | 1 | 1 | 1 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Current assets | 6,388 | 6,869 | 7,296 | 7,086 | 6,991 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Current liabilities | 3,476 | 3,540 | 3,460 | 3,445 | 3,709 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Short-term borrowings | 196 | 202 | 200 | 172 | 370 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Long-term borrowings | 139 | 144 | 192 | 142 | 271 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Total liabilities | 4,491 | 4,721 | 4,645 | 4,559 | 4,943 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Equity attributable to owners of parent | 5,251 | 5,685 | 6,121 | 6,300 | 5,932 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Retained earnings | 4,672 | 5,105 | 5,541 | 5,720 | 5,352 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100QUXW, S100TIS7, S100VUA9, S100Y69Z |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100Y69Z |
| Property, plant and equipment | 22% | S100Y69Z |
| Intangibles and goodwill | 1% | S100Y69Z |
| Other assets | 49% | S100Y69Z |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 45% | S100Y69Z |
| Equity | 55% | S100Y69Z |

### Balance sheet history

| Metric | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 9,742 | 10,405 | 10,766 | 10,859 | 10,875 |
| Equity | 5,251 | 5,685 | 6,121 | 6,300 | 5,932 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,439 | 3,746 | 3,927 | 3,796 | 3,019 |

## 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) | 8.3% | S100Y69Z |
| Fixed assets ÷ total assets | 21.9% | S100Y69Z |
| Goodwill ÷ parent equity | 0.0% | S100Y69Z |

Goodwill over 4 years: 1 → 1 JPY; total investing cash flow: -1,586 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) | 27.8% |
| Cash ÷ revenue | 10.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 135.1% |
| Cash vs. profit gap | 473 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.1% |
| Investing CF relative to operating CF | 255.5% |

## 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 | 2.2% | 2.70× | 5.9% | 1.86× | 10.9% | S100QUXW |
| 2023 | 2.2% | 2.70× | 6.0% | 1.84× | 11.0% | S100TIS7 |
| 2024 | 2.1% | 2.71× | 5.7% | 1.79× | 10.2% | S100VUA9 |
| 2025 | 1.2% | 2.62× | 3.2% | 1.74× | 5.6% | S100Y69Z |
| 2026 | — | —× | -1.9% | —× | — | S100Y69Z |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社太田興産 | Major shareholder | 33.4% | 2026-02-28 |
| 太田 万三彦 | Major shareholder | 25.5% | 2026-02-28 |
| 太田 磨草子 | Major shareholder | 6.2% | 2026-02-28 |
| 太田 圭太郎 | Major shareholder | 3.0% | 2026-02-28 |
| 太田 晃太郎 | Major shareholder | 2.9% | 2026-02-28 |
| 太田 実花子 | Major shareholder | 2.9% | 2026-02-28 |
| ジェーソン社員持株会 | Major shareholder | 1.6% | 2026-02-28 |
| 北辰商事株式会社 | Major shareholder | 0.6% | 2026-02-28 |
| 渡邊 也寸美 | Major shareholder | 0.2% | 2026-02-28 |
| 山田 寛太郎 | Major shareholder | 0.2% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第41期(2025/03/01－2026/02/28) | S100Y69Z | 2026-05-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y69Z,, |
| 有価証券報告書－第40期(2024/03/01－2025/02/28) | S100VUA9 | 2025-05-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VUA9,, |
| 有価証券報告書－第39期(2023/03/01－2024/02/29) | S100TIS7 | 2024-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TIS7,, |
| 有価証券報告書－第38期(2022/03/01－2023/02/28) | S100QUXW | 2023-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QUXW,, |
| 有価証券報告書－第37期(令和3年3月1日－令和4年2月28日) | S100O4MK | 2022-05-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O4MK,, |
| 有価証券報告書－第36期(令和2年3月1日－令和3年2月28日) | S100LEZN | 2021-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LEZN,, |

## 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).