# JB ELEVEN 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45期(2025/04/01－2026/03/31) (S100YDLB)
> Page: https://vizora.meequs.com/en/company/jb-eleven
> Retrieved: 2026-09-30T22:40:31.096Z

## Company

JB Eleven, founded in 1981, is a company in Fast Food & Quick Service listed on Nagoya. It has 165 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | JB ELEVEN CO.,LTD. |
| Ticker | 3066 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3066.T) |
| Listing | Nagoya |
| Head office | 名古屋市緑区桶狭間切戸2217番地 |
| Representative (per filing) | 代表取締役社長 新美 司 |
| Founded | Sep 1981 |
| Share capital | ¥30M |
| Employees (consolidated) | 165 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | March |
| Corporate number | 8180001047370 |
| EDINET | E03500 |
| Industries (Vizora) | Fast Food & Quick Service |

> Profile source: annual securities report (S100YDLB, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Fast Food & Quick Service (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 25 | 18 |
| Profitability | 6.8 | 22 |
| Cash conversion | 97.6 | 21 |
| Efficiency | 47.7 | 22 |

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)

- JB Eleven brought in ¥8.61B in revenue.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +8.1% from the prior year, operating profit -77.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥8.61B |  |
| Operating income | ¥41M | Margin 0.5% |
| Net income | -¥51.4M | Margin -0.6% |
| Free cash flow | -¥63.3M |  |
| Employees (consolidated) | 165 |  |
| EPS | ¥1.37 |  |
| Book value per share | ¥216.92 |  |
| Equity ratio | 37.2% |  |
| Shares outstanding | 9,450,500 |  |
| Treasury shares | 70,700 |  |
| Shareholders | 9,916 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 18.4% | Cash ÷ revenue 11.5% |
| Vs. industry median margin | -5 pp | Fast Food & Quick Service |
| ROA | -1.0% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.2× dividends
- FY2026, parent-company salary changed +23% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5978708000 | ¥8614201000 | +44.1% |
| Operating income | ¥-87547000 | ¥40962000 | — |
| Operating margin | -1.5% | 0.5% | +1.9 pp |
| Employees | 166 people | 165 people | -0.6% |
| Cash and equivalents | ¥1646064000 | ¥987624000 | -40.0% |

### 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 | 8,614 | 100.0% | S100YDLB |
| Cost of revenue | 2,857 | 33.2% | S100YDLB |
| Gross profit | 5,757 | 66.8% | S100YDLB |
| SG&A | 5,716 | 66.4% | S100YDLB |
| Operating income | 41 | 0.5% | S100YDLB |
| Ordinary income | 41 | 0.5% | S100YDLB |
| Pretax income | -59 | -0.7% | S100YDLB |
| Income tax | -7 | -0.1% | S100YDLB |
| Net income | -51 | -0.6% | S100YDLB |
| Net income attributable to owners | -51 | -0.6% | S100YDLB |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 33 |
| SG&A | 66 |
| Operating income | 1 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 66.8% → Operating margin 0.5% → Net margin -0.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +8.1%; Core profit growth: -77.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -9.61×
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 | 7,969 | 8,614 | 645 | +8.1% |
| Gross profit | 5,371 | 5,757 | 386 | +7.2% |
| Operating income | 184 | 41 | -143 | -77.8% |
| Net income attributable to owners | 58 | -51 | -109 | -189.1% |
| Operating cash flow | 100 | 408 | 307 | +306.4% |
| Free cash flow | -298 | -63 | 235 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 7,437 | 52 | 0.7% | -84 | 332 | 8 | S100LX2N |
| FY ending Mar 2021 | 5,979 | -88 | -1.5% | -387 | -42 | -179 | S100OGIJ |
| FY ending Mar 2022 | 6,099 | -132 | -2.2% | 298 | 993 | 604 | S100RAJI |
| FY ending Mar 2023 | 7,118 | -289 | -4.1% | -319 | 122 | -266 | S100TQ63 |
| FY ending Mar 2024 | 7,643 | 133 | 1.7% | 80 | 712 | 269 | S100VYYN |
| FY ending Mar 2025 | 7,969 | 184 | 2.3% | 58 | 100 | -298 | S100YDLB |
| FY ending Mar 2026 | 8,614 | 41 | 0.5% | -51 | 408 | -63 | S100YDLB |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥52.2M |
| Operating income per employee (consolidated) | ¥248.3K |
| Net income per employee (consolidated) | -¥311.5K |

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) | 180 | 169 | 163 | 160 | 165 |
| Average salary (parent company) | ¥5.3M | ¥5.9M | ¥5.4M | ¥6.6M | ¥6.6M |
| Average age (parent company) | 46.7 years | 46.6 years | 47.9 years | 47.4 years | 48.7 years |
| Average tenure (parent company) | 8.9 years | 11.2 years | 8.5 years | 11.9 years | 12.2 years |

Year over year: Employees (consolidated) +3.1% · Revenue (consolidated) +8.1%

## 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 | 408 | 4.7% | S100YDLB |
| Capital expenditure | 471 | 5.5% | S100YDLB |
| Free cash flow | -63 | -0.7% | 算出 |
| Investing cash flow | -810 | -9.4% | S100YDLB |
| Financing cash flow | 8 | 0.1% | S100YDLB |
| Dividends paid | 22 | 0.3% | S100YDLB |
| Share buyback | 50 | 0.6% | S100YDLB |
| Change in cash | -394 | -4.6% | S100YDLB |
| Cash and equivalents | 988 | 11.5% | S100YDLB |

## 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 | 2,010 | 1,455 | 1,539 | 1,382 | 988 | S100TQ63, S100VYYN, S100YDLB |
| Total assets | 5,732 | 5,289 | 5,273 | 5,254 | 5,375 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Net assets | 1,266 | 1,095 | 1,347 | 2,116 | 2,000 | S100TQ63, S100VYYN, S100YDLB |
| Share capital | 928 | 997 | 1,080 | 30 | 30 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Property, plant and equipment | 2,039 | 2,211 | 2,236 | 2,289 | 2,417 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Intangible assets excluding goodwill | 52 | 38 | 21 | 18 | 356 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Goodwill | 32 | 14 | 3 | — | 289 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Investment securities | 132 | 131 | 145 | 136 | 133 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Current assets | 2,760 | 2,178 | 2,129 | 2,070 | 1,679 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Current liabilities | 1,805 | 1,912 | 1,848 | 1,377 | 1,489 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Long-term borrowings | 2,324 | 1,966 | 1,768 | 1,436 | 1,480 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Total liabilities | 4,467 | 4,194 | 3,926 | 3,138 | 3,374 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Equity attributable to owners of parent | 1,244 | 1,062 | 1,308 | 2,094 | 1,983 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Retained earnings | 162 | -157 | 143 | 180 | 105 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |
| Treasury stock | -0 | -0 | -0 | -0 | -39 | S100RAJI, S100TQ63, S100VYYN, S100YDLB |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 18% | S100YDLB |
| Property, plant and equipment | 45% | S100YDLB |
| Intangibles and goodwill | 12% | S100YDLB |
| Investment securities | 3% | S100YDLB |
| Other assets | 22% | S100YDLB |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 63% | S100YDLB |
| Equity | 37% | S100YDLB |

### 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 | 5,732 | 5,289 | 5,273 | 5,254 | 5,375 |
| Equity | 1,266 | 1,095 | 1,347 | 2,116 | 2,000 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,010 | 1,455 | 1,539 | 1,382 | 988 |

## 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) | 28.1% | S100YDLB |
| Fixed assets ÷ total assets | 45.0% | S100YDLB |
| Goodwill ÷ parent equity | 14.6% | S100YDLB |

Goodwill over 4 years: 32 → 289 JPY; total investing cash flow: -2,500 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) | 18.4% |
| Cash ÷ revenue | 11.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 995.3% |
| Cash vs. profit gap | 459 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.5% |
| Investing CF relative to operating CF | 198.7% |

## 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 | 4.9% | 1.06× | 5.2% | 4.61× | 23.9% | S100RAJI |
| 2023 | — | —× | -5.8% | —× | — | S100TQ63 |
| 2024 | 1.0% | 1.45× | 1.5% | 4.46× | 6.7% | S100VYYN |
| 2025 | 0.7% | 1.51× | 1.1% | 3.09× | 3.4% | S100YDLB |
| 2026 | — | —× | -1.0% | —× | — | S100YDLB |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 十一番合同会社 | Major shareholder | 6.2% | 2026-03-31 |
| アリアケジャパン株式会社 | Major shareholder | 3.7% | 2026-03-31 |
| 新美 司 | Major shareholder | 3.2% | 2026-03-31 |
| 株式会社大光 | Major shareholder | 3.2% | 2026-03-31 |
| サッポロビール株式会社 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社グルメ杵屋 | Major shareholder | 2.7% | 2026-03-31 |
| ＮＩＭホールディングス 合同会社 | Major shareholder | 2.7% | 2026-03-31 |
| 株式会社折兼 | Major shareholder | 2.0% | 2026-03-31 |
| 北沢産業株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| 椋本 充士 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第45期(2025/04/01－2026/03/31) | S100YDLB | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDLB,, |
| 有価証券報告書－第44期(2024/04/01－2025/03/31) | S100VYYN | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYYN,, |
| 有価証券報告書－第43期(2023/04/01－2024/03/31) | S100TQ63 | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQ63,, |
| 訂正有価証券報告書－第42期(2022/04/01－2023/03/31) | S100RAJI | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAJI,, |
| 有価証券報告書－第41期(令和3年4月1日－令和4年3月31日) | S100OGIJ | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OGIJ,, |
| 訂正有価証券報告書－第40期(令和2年4月1日－令和3年3月31日) | S100LX2N | 2021-07-02 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LX2N,, |

## 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).