# KIDS STAR Inc.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第12期(2025/01/01－2025/12/31) (S100XTN4)
> Page: https://vizora.meequs.com/en/company/kids-star
> Retrieved: 2026-09-30T19:51:44.250Z

## Company

Kids Star, founded in 2014, is a company in Internet Services & Apps listed on TSE Growth. It has 72 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KIDS STAR Inc. |
| Ticker | 248A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/248A.T) |
| Listing | TSE Growth |
| Head office | 東京都渋谷区神泉町9番5号 |
| Representative (per filing) | 代表取締役 平田 全広 |
| Founded | Oct 2014 |
| Share capital | ¥24.6M |
| Employees (consolidated) | 72 |
| Average salary (parent only) | ¥5.7M |
| Fiscal year end | December |
| Website | www.kidsstar.co.jp (https://www.kidsstar.co.jp/) |
| Corporate number | 6011001102514 |
| EDINET | E39449 |
| Industries (Vizora) | Internet Services & Apps |

> Profile source: annual securities report (S100XTN4, filed 2026-03-25). As of filing

## Five-axis industry profile

Primary industry: Internet Services & Apps (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 85.3 | 51 |
| Cash conversion | 70.9 | 43 |
| Efficiency | 6.7 | 52 |

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)

- Kids Star brought in ¥1.16B in revenue.
- Out of every ¥100 of sales, about ¥22 is left as operating profit.
- Revenue changed +27.4% from the prior year, operating profit +47.0%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥1.16B |  |
| Operating income | ¥248.4M | Margin 21.5% |
| Net income | ¥158M | Margin 13.7% |
| Free cash flow | — |  |
| Employees (consolidated) | 72 |  |
| EPS | ¥65.36 |  |
| Diluted EPS | ¥64.23 |  |
| Book value per share | ¥913.61 |  |
| Equity ratio | 84.0% |  |
| Shares outstanding | 2,598,500 |  |
| Shareholders | 1,285 |  |
| Average salary (parent only) | ¥5.7M | Filing company only |
| Cash ratio | 83.3% | Cash ÷ revenue 202.4% |
| Vs. industry median margin | +13.8 pp | Internet Services & Apps |
| ROE | 6.7% | Derived from disclosed figures |
| ROA | 5.6% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 2.5× net income
- FY2025, cash is 83% of total assets

## What changed in 2 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Dec 2023 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥764797000 | ¥1157139000 | — |
| Operating income | ¥157858000 | ¥248411000 | — |
| Operating margin | 20.6% | 21.5% | +0.8 pp |
| Employees | 51 people | 72 people | — |
| Cash and equivalents | ¥497422000 | ¥2342354000 | — |

### Change in segment revenue mix

Span: FY ending Dec 2023 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,157 | 100.0% | S100XTN4 |
| Cost of revenue | 441 | 38.2% | S100XTN4 |
| Gross profit | 716 | 61.8% | S100XTN4 |
| SG&A | 467 | 40.4% | S100XTN4 |
| Operating income | 248 | 21.5% | S100XTN4 |
| Ordinary income | 250 | 21.6% | S100XTN4 |
| Pretax income | 234 | 20.2% | S100XTN4 |
| Income tax | 76 | 6.6% | S100XTN4 |
| Net income | 158 | 13.7% | S100XTN4 |
| Net income attributable to owners | 158 | 13.7% | S100XTN4 |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 38 |
| SG&A | 40 |
| Operating income | 22 |
| (Ref.) Net income | 14 |

### Margin funnel

Gross margin 61.8% → Operating margin 21.5% → Net margin 13.7%
Derived from reported figures (DERIVED).

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 908 | 1,157 | 249 | +27.4% |
| Gross profit | 566 | 716 | 149 | +26.4% |
| Operating income | 169 | 248 | 79 | +47.0% |
| Operating cash flow | 230 | 390 | 160 | +69.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2023 | 765 | 158 | 20.6% | 110 | 304 | — | S100VHKZ |
| FY ending Dec 2024 | 908 | 169 | 18.6% | 105 | 230 | — | S100VHKZ |
| FY ending Dec 2025 | 1,157 | 248 | 21.5% | 158 | 390 | — | S100XTN4 |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16.1M |
| Operating income per employee (consolidated) | ¥3.5M |
| Net income per employee (consolidated) | ¥2.2M |

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

| History | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: |
| Employees (consolidated) | 51 | 58 | 72 |
| Average salary (parent company) | — | ¥5.5M | ¥5.7M |
| Average age (parent company) | — | 40.3 years | 39.9 years |
| Average tenure (parent company) | — | 3.5 years | 3.7 years |

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 390 | 33.7% | S100XTN4 |
| Investing cash flow | -247 | -21.3% | S100XTN4 |
| Financing cash flow | 30 | 2.6% | S100XTN4 |
| Change in cash | 174 | 15.0% | S100XTN4 |
| Cash and equivalents | 2,342 | 202.4% | S100XTN4 |

## 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 Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: |
| Cash and equivalents | 497 | 2,169 | 2,342 | S100VHKZ, S100XTN4 |
| Total assets | 772 | 2,607 | 2,811 | S100VHKZ, S100XTN4 |
| Net assets | 417 | 2,177 | 2,363 | S100VHKZ, S100XTN4 |
| Share capital | 90 | 918 | 25 | S100VHKZ, S100XTN4 |
| Property, plant and equipment | 1 | 1 | 1 | S100VHKZ, S100XTN4 |
| Intangible assets excluding goodwill | 156 | 239 | 304 | S100VHKZ, S100XTN4 |
| Current assets | 565 | 2,302 | 2,430 | S100VHKZ, S100XTN4 |
| Current liabilities | 353 | 428 | 446 | S100VHKZ, S100XTN4 |
| Total liabilities | 355 | 430 | 448 | S100VHKZ, S100XTN4 |
| Equity attributable to owners of parent | 415 | 2,175 | 2,365 | S100VHKZ, S100XTN4 |
| Retained earnings | 235 | 340 | 498 | S100VHKZ, S100XTN4 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 83% | S100XTN4 |
| Property, plant and equipment | 0% | S100XTN4 |
| Intangibles and goodwill | 11% | S100XTN4 |
| Other assets | 6% | S100XTN4 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 16% | S100XTN4 |
| Equity | 84% | S100XTN4 |
| Other liabilities | 0% | S100XTN4 |

### Balance sheet history

| Metric | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: |
| Total assets | 772 | 2,607 | 2,811 |
| Equity | 417 | 2,177 | 2,363 |
| Interest-bearing debt | — | — | — |
| Cash | 497 | 2,169 | 2,342 |

## 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) | 0.1% | S100XTN4 |
| Fixed assets ÷ total assets | 0.0% | S100XTN4 |
| Goodwill ÷ parent equity | — | —, S100XTN4 |

### 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) | 83.3% |
| Cash ÷ revenue | 202.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 156.9% |
| Cash vs. profit gap | 232 JPY mn (of net income 146.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 63.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2023 | 14.3% | 0.99× | 14.2% | 1.86× | 26.4% | S100VHKZ |
| 2024 | 11.6% | 0.54× | 6.2% | 1.30× | 8.1% | S100VHKZ |
| 2025 | 13.7% | 0.41× | 5.6% | 1.19× | 6.7% | S100XTN4 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社くふうカンパニーホールディングス | Major shareholder | 33.4% | 2025-12-31 |
| 穐田 誉輝 | Major shareholder | 26.9% | 2025-12-31 |
| 株式会社SBI証券 | Major shareholder | 7.7% | 2025-12-31 |
| 平田 全広 | Major shareholder | 3.9% | 2025-12-31 |
| 松本 健太郎 | Major shareholder | 2.6% | 2025-12-31 |
| 金城 永典 | Major shareholder | 2.6% | 2025-12-31 |
| PKSHAアルゴリズム2号投資事業有限責任組合 | Major shareholder | 1.2% | 2025-12-31 |
| 楽天証券株式会社共有口 | Major shareholder | 1.1% | 2025-12-31 |
| 野村證券株式会社 | Major shareholder | 0.9% | 2025-12-31 |
| 細田 正志 | Major shareholder | 0.6% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第12期(2025/01/01－2025/12/31) | S100XTN4 | 2026-03-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XTN4,, |
| 有価証券報告書－第11期(2024/01/01－2024/12/31) | S100VHKZ | 2025-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VHKZ,, |

## 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).