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

> Latest period: FY ending Sep 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第52期(2024/10/01－2025/09/30) (S100XC1F)
> Page: https://vizora.meequs.com/en/company/konaka
> Retrieved: 2026-09-30T20:25:05.944Z

## Company

Konaka, founded in 1954, is a company in Fast Food & Quick Service listed on TSE Standard. It has 1,882 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KONAKA CO.,LTD. |
| Ticker | 7494 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7494.T) |
| Listing | TSE Standard |
| Head office | 神奈川県横浜市戸塚区品濃町517番地2 |
| Representative (per filing) | 取締役社長CEO グループ代表 湖中 謙介 |
| Founded | Jan 1954 |
| Share capital | ¥100M |
| Employees (consolidated) | 1,882 |
| Average salary (parent only) | ¥4.5M |
| Fiscal year end | September |
| Website | www.konaka.co.jp (https://www.konaka.co.jp/) |
| Corporate number | 4020001007344 |
| EDINET | E03259 |
| Industries (Vizora) | Fast Food & Quick Service, Education, Apparel |

> Profile source: annual securities report (S100XC1F, filed 2025-12-23). As of filing

## Five-axis industry profile

Primary industry: Apparel (2025-09-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 42.7 | 55 |
| Profitability | 17.2 | 61 |
| Efficiency | 66.4 | 61 |

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 94% of Konaka's sales come from Fashion, with Food service and Educational making up much of the rest.
- It lost about ¥1 for every ¥100 of sales at the operating level.
- Revenue changed -12.1% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥55.5B |  |
| Operating income | -¥766M | Margin -1.4% |
| Net income | ¥478M | Margin 0.9% |
| Free cash flow | ¥494M |  |
| Largest business | Fashion | of segment revenue 94.3% |
| Employees (consolidated) | 1,882 |  |
| EPS | ¥12.98 |  |
| Book value per share | ¥469.18 |  |
| Equity ratio | 39.3% |  |
| Shares outstanding | 35,322,490 |  |
| Treasury shares | 1,656,600 |  |
| Shareholders | 34,067 |  |
| Average salary (parent only) | ¥4.5M | Filing company only |
| Cash ratio | 7.6% | Cash ÷ revenue 5.8% |
| Vs. industry median margin | -4.4 pp | Apparel |
| ROE | 3.4% | Derived from disclosed figures |
| ROA | 1.1% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 2.5× net income
- FY2025, one segment accounts for 71% of positive segment profit
- FY2025, segment profit share differs by 68 points

## What changed in 5 years

| Metric | FY ending Sep 2020 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥47842000000 | ¥55487000000 | +16.0% |
| Operating income | ¥-4938000000 | ¥-766000000 | — |
| Operating margin | -10.3% | -1.4% | +8.9 pp |
| Employees | 3,243 people | 1,882 people | -42.0% |
| Cash and equivalents | ¥6121000000 | ¥3198000000 | -47.8% |

### Change in segment revenue mix

Span: FY ending Sep 2020 → FY ending Sep 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| ファッション → ファッション | 94.3% |
| ファッション → 事業再編・廃止 | 0.4% |
| フードサービス → フードサービス | 3.8% |
| 教育 → 教育 | 1.6% |
| 新設・再編 → フードサービス | 0.1% |
| 新設・再編 → 教育 | 0.3% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Fashion | 5 years | +2.9% | ¥52310000000 | -1.7% | 2 |
| Food service | 5 years | +3.5% | ¥2161000000 | 3.5% | 2 |
| Educational | 5 years | +6.5% | ¥1015000000 | 3.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 55,487 | 100.0% | S100XC1F |
| Cost of revenue | 22,167 | 39.9% | S100XC1F |
| Gross profit | 33,319 | 60.0% | S100XC1F |
| SG&A | 34,086 | 61.4% | S100XC1F |
| Operating income | -766 | -1.4% | S100XC1F |
| Ordinary income | -345 | -0.6% | S100XC1F |
| Pretax income | -175 | -0.3% | S100XC1F |
| Income tax | -653 | -1.2% | S100XC1F |
| Net income | 478 | 0.9% | S100XC1F |
| Net income attributable to owners | 478 | 0.9% | S100XC1F |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 40 |
| SG&A | 61 |
| Operating income | -1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 60.0% → Operating margin -1.4% → Net margin 0.9%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 63,127 | 55,487 | -7,640 | -12.1% |
| Gross profit | 36,948 | 33,319 | -3,629 | -9.8% |
| Operating income | -1,348 | -766 | 582 | — |
| Net income attributable to owners | -3,062 | 478 | 3,540 | — |
| Operating cash flow | -228 | 1,216 | 1,444 | — |
| Free cash flow | -2,225 | 494 | 2,719 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2019 | 60,698 | 73 | 0.1% | -5,344 | 3,846 | 3,005 | S100KG5N |
| FY ending Sep 2020 | 47,842 | -4,938 | -10.3% | -12,948 | -3,311 | -4,481 | S100N4O0 |
| FY ending Sep 2021 | 58,584 | -7,825 | -13.4% | -1,938 | -3,284 | -4,214 | S100PU07 |
| FY ending Sep 2022 | 63,174 | -3,255 | -5.2% | -3,231 | 1,644 | 461 | S100SHU7 |
| FY ending Sep 2023 | 65,797 | -914 | -1.4% | -119 | 415 | -902 | S100UZV0 |
| FY ending Sep 2024 | 63,127 | -1,348 | -2.1% | -3,062 | -228 | -2,225 | S100XC1F |
| FY ending Sep 2025 | 55,487 | -766 | -1.4% | 478 | 1,216 | 494 | S100XC1F |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥29.5M |
| Operating income per employee (consolidated) | -¥407K |
| Net income per employee (consolidated) | ¥254K |

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

| History | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 2,642 | 2,507 | 2,410 | 2,139 | 1,882 |
| Average salary (parent company) | ¥4M | ¥4.4M | ¥4.5M | ¥4.6M | ¥4.5M |
| Average age (parent company) | 39.0 years | 40.0 years | 40.9 years | 41.8 years | 42.7 years |
| Average tenure (parent company) | 16.0 years | 17.1 years | 18.0 years | 18.8 years | 19.6 years |

Year over year: Employees (consolidated) -12.0% · Revenue (consolidated) -12.1%

## Segments（FY ending Sep 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Fashion | 52,310 | 94.3% | -872 | -1.7% |
| Food service | 2,161 | 3.9% | 75 | 3.5% |
| Educational | 1,015 | 1.8% | 30 | 3.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Fashion | 94.3% | — | — | -1.7% |
| Food service | 3.9% | 71.4% | 67.5 | 3.5% |
| Educational | 1.8% | 28.6% | 26.7 | 3.0% |

Loss-making segment (excluded from profit shares): Fashion -872 JPY mn

Segment → industry: Food service → Fast Food & Quick Service / Educational → Education / Fashion → Apparel

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,216 | 2.2% | S100XC1F |
| Capital expenditure | 722 | 1.3% | S100XC1F |
| Free cash flow | 494 | 0.9% | 算出 |
| Investing cash flow | 1,033 | 1.9% | S100XC1F |
| Financing cash flow | -1,238 | -2.2% | S100XC1F |
| Dividends paid | 167 | 0.3% | S100XC1F |
| Share buyback | 0 | 0.0% | S100XC1F |
| Change in cash | 1,022 | 1.8% | S100XC1F |
| Cash and equivalents | 3,198 | 5.8% | S100XC1F |

## 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 Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 6,237 | 6,547 | 5,493 | 2,176 | 3,198 | S100SHU7, S100UZV0, S100XC1F |
| Total assets | 58,835 | 54,307 | 53,132 | 44,458 | 42,274 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Net assets | 25,051 | 19,797 | 19,518 | 16,234 | 16,634 | S100SHU7, S100UZV0, S100XC1F |
| Share capital | 5,305 | 5,305 | 5,305 | 5,305 | 100 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Trade receivables | 2,092 | — | — | — | — | S100PU07 |
| Property, plant and equipment | 15,755 | 14,607 | 13,606 | 10,451 | 9,478 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Intangible assets excluding goodwill | 1,681 | 1,418 | 555 | 426 | 473 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Investment securities | 3,530 | 2,932 | 3,417 | 4,144 | 3,685 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Current assets | 28,167 | 26,533 | 24,764 | 19,369 | 18,570 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Current liabilities | 21,441 | 23,625 | 28,679 | 15,940 | 19,985 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Trade payables | 1,453 | 1,641 | 1,709 | 1,112 | 912 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Short-term borrowings | 13,090 | 13,562 | 12,075 | 7,455 | 7,444 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Long-term borrowings | 8,406 | 7,738 | 85 | 6,885 | 1,597 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Total liabilities | 33,784 | 34,510 | 33,614 | 28,224 | 25,639 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Non-controlling interests | 1,708 | 665 | 467 | — | — | S100PU07, S100SHU7, S100UZV0 |
| Equity attributable to owners of parent | 21,565 | 17,770 | 17,151 | 13,841 | 14,181 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Retained earnings | 6,349 | 2,553 | 1,712 | -1,778 | 3,359 | S100PU07, S100SHU7, S100UZV0, S100XC1F |
| Treasury stock | -3,342 | -3,342 | -3,120 | -2,939 | -2,711 | S100PU07, S100SHU7, S100UZV0, S100XC1F |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100XC1F |
| Property, plant and equipment | 22% | S100XC1F |
| Intangibles and goodwill | 1% | S100XC1F |
| Investment securities | 9% | S100XC1F |
| Other assets | 60% | S100XC1F |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 2% | S100XC1F |
| Other liabilities | 59% | S100XC1F |
| Equity | 39% | S100XC1F |
| Other liabilities | 0% | S100XC1F |

### Balance sheet history

| Metric | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 58,835 | 54,307 | 53,132 | 44,458 | 42,274 |
| Equity | 25,051 | 19,797 | 19,518 | 16,234 | 16,634 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,237 | 6,547 | 5,493 | 2,176 | 3,198 |

## 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) | 17.1% | S100XC1F |
| Fixed assets ÷ total assets | 22.4% | S100XC1F |
| Goodwill ÷ parent equity | — | —, S100XC1F |

### 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) | 7.6% |
| Cash ÷ revenue | 5.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 738 JPY mn (of net income 154.4%) |
| Shareholder returns / net income | 34.9% |
| Shareholder returns / FCF | 33.8% |
| Shareholder payments — dividends / net income | 34.9% |
| Shareholder payments — dividends / FCF | 33.8% |
| CapEx intensity (capex ÷ revenue) | 1.3% |
| Investing CF relative to operating CF | 85.0% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | — | —× | -3.3% | —× | — | S100PU07 |
| 2022 | — | —× | -5.7% | —× | — | S100SHU7 |
| 2023 | — | —× | -0.2% | —× | — | S100UZV0 |
| 2024 | — | —× | -6.3% | —× | — | S100XC1F |
| 2025 | 0.9% | 1.28× | 1.1% | 3.10× | 3.4% | S100XC1F |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 湖中 謙介 | Major shareholder | 6.8% | 2025-09-30 |
| コナカ従業員持株会 | Major shareholder | 5.4% | 2025-09-30 |
| 寺田 和正 | Major shareholder | 5.1% | 2025-09-30 |
| 湖中 博達 | Major shareholder | 4.6% | 2025-09-30 |
| 甲陽ハウジング㈲ | Major shareholder | 2.4% | 2025-09-30 |
| SHOWA GROUP㈱ | Major shareholder | 2.3% | 2025-09-30 |
| ㈱三井住友銀行 | Major shareholder | 2.2% | 2025-09-30 |
| 湖中 雄介 | Major shareholder | 2.1% | 2025-09-30 |
| 湖中 龍介 | Major shareholder | 2.0% | 2025-09-30 |
| ㈱オービック | Major shareholder | 1.7% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第52期(2024/10/01－2025/09/30) | S100XC1F | 2025-12-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XC1F,, |
| 有価証券報告書－第51期(2023/10/01－2024/09/30) | S100UZV0 | 2024-12-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UZV0,, |
| 有価証券報告書－第50期(2022/10/01－2023/09/30) | S100SHU7 | 2023-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SHU7,, |
| 有価証券報告書－第49期(令和3年10月1日－令和4年9月30日) | S100PU07 | 2022-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PU07,, |
| 有価証券報告書－第48期(令和2年10月1日－令和3年9月30日) | S100N4O0 | 2021-12-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100N4O0,, |
| 有価証券報告書－第47期(令和1年10月1日－令和2年9月30日) | S100KG5N | 2020-12-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KG5N,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| ＭＮインターファッション株式会社 | Co-development | ブランド「DONATO VINCI」「VINCI UOMO」の商標使用許諾と独占的製造・販売権（ライセンス） | S100XC1F |

## 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).