# koukandekirukun, Inc.: 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28期(2025/04/01－2026/03/31) (S100YG44)
> Page: https://vizora.meequs.com/en/company/koukandekirukun
> Retrieved: 2026-09-30T21:04:49.423Z

## Company

koukandekirukun, founded in 1998, is a company in E-commerce listed on TSE Growth. It has 277 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Koukandekirukun, Inc. |
| Ticker | 7695 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7695.T) |
| Listing | TSE Growth |
| Head office | 東京都渋谷区東一丁目26番20号 |
| Representative (per filing) | 代表取締役社長 栗原 将 |
| Founded | Nov 1998 |
| Share capital | ¥561.1M |
| Employees (consolidated) | 277 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.dekirukun.co.jp (https://www.dekirukun.co.jp/) |
| Corporate number | 2011001073362 |
| EDINET | E35766 |
| Industries (Vizora) | E-commerce |

> Profile source: annual securities report (S100YG44, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: E-commerce (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 36.8 | 34 |
| Cash conversion | 61.1 | 27 |
| Efficiency | 86.8 | 34 |

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 89% of koukandekirukun's sales come from Housing equipment DX business, with Solution business making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +22.4% from the prior year, operating profit +7.8%.

## Company structure

- Segment revenue mix: Housing equipment DX business 89.5%、Solution business 10.5%
- Revenue → net income: ¥12600874000 → ¥91971000
- Net income → operating cash flow: ¥91971000 → ¥217283000（difference ¥125312000）
- Main uses of operating cash flow: CapEx ¥300145000 / dividends — / buybacks —
- Change in cash: ¥729818000
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 | ¥12.6B |  |
| Operating income | ¥176.1M | Margin 1.4% |
| Net income | ¥92M | Margin 0.7% |
| Free cash flow | -¥82.9M |  |
| Largest business | Housing equipment DX business | of segment revenue 89.5% |
| Employees (consolidated) | 277 |  |
| EPS | ¥20.61 |  |
| Diluted EPS | ¥20.33 |  |
| Book value per share | ¥270.82 |  |
| Equity ratio | 36.0% |  |
| Shares outstanding | 7,469,100 |  |
| Treasury shares | 600 |  |
| Shareholders | 2,094 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 27.5% | Cash ÷ revenue 12.4% |
| Vs. industry median margin | -3.5 pp | E-commerce |
| ROE | 4.9% | Derived from disclosed figures |
| ROA | 1.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.4× net income
- FY2026, revenue is 2.6× its level five years ago
- FY2026, one segment accounts for 87% of positive segment profit

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4721358000 | ¥12600874000 | — |
| Operating income | ¥257515000 | ¥176089000 | — |
| Operating margin | 5.5% | 1.4% | -4.1 pp |
| Employees | 74 people | 277 people | — |
| Cash and equivalents | ¥947726000 | ¥1562473000 | — |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → 住設DX事業 | 89.5% |
| 新設・再編 → ソリューション事業 | 10.5% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 12,601 | 100.0% | S100YG44 |
| Cost of revenue | 9,774 | 77.6% | S100YG44 |
| Gross profit | 2,827 | 22.4% | S100YG44 |
| SG&A | 2,651 | 21.0% | S100YG44 |
| Operating income | 176 | 1.4% | S100YG44 |
| Ordinary income | 183 | 1.5% | S100YG44 |
| Pretax income | 183 | 1.5% | S100YG44 |
| Income tax | 91 | 0.7% | S100YG44 |
| Net income | 92 | 0.7% | S100YG44 |
| Net income attributable to owners | 92 | 0.7% | S100YG44 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 21 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 22.4% → Operating margin 1.4% → Net margin 0.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +22.4%; Core profit growth: +7.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.35×
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 | 10,293 | 12,601 | 2,308 | +22.4% |
| Gross profit | 2,371 | 2,827 | 455 | +19.2% |
| Operating income | 163 | 176 | 13 | +7.8% |
| Net income attributable to owners | 91 | 92 | 1 | +1.3% |
| Operating cash flow | 52 | 217 | 166 | +320.1% |
| Free cash flow | -326 | -83 | 243 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 4,008 | 160 | 4.0% | 134 | 123 | 118 | S100LT6Z |
| FY ending Mar 2021 | 4,721 | 258 | 5.5% | 206 | 316 | 287 | S100LT6Z |
| FY ending Mar 2022 | 4,807 | 104 | 2.2% | 66 | -16 | -95 | S100R6RZ |
| FY ending Mar 2023 | 6,042 | 302 | 5.0% | 185 | 328 | 250 | S100TSL3 |
| FY ending Mar 2024 | 7,565 | 329 | 4.3% | 230 | 149 | -35 | S100W51F |
| FY ending Mar 2025 | 10,293 | 163 | 1.6% | 91 | 52 | -326 | S100YG44 |
| FY ending Mar 2026 | 12,601 | 176 | 1.4% | 92 | 217 | -83 | S100YG44 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥45.5M |
| Operating income per employee (consolidated) | ¥635.7K |
| Net income per employee (consolidated) | ¥332K |

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) | 82 | 79 | 144 | 170 | 277 |
| Average salary (parent company) | ¥5.2M | ¥5M | ¥5M | ¥5.2M | ¥5.4M |
| Average age (parent company) | 36.6 years | 35.6 years | 36.0 years | 35.9 years | 35.5 years |
| Average tenure (parent company) | 4.7 years | 5.1 years | 4.8 years | 4.9 years | 5.2 years |

Year over year: Employees (consolidated) +62.9% · Revenue (consolidated) +22.4%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Housing equipment DX business | 11,273 | 89.5% | 163 | 1.4% |
| Solution business | 1,328 | 10.5% | 24 | 1.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Housing equipment DX business | 89.5% | 87.2% | -2.3 | 1.4% |
| Solution business | 10.5% | 12.8% | 2.3 | 1.8% |

Segment → industry: Housing equipment DX business → E-commerce

## 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 | 217 | 1.7% | S100YG44 |
| Capital expenditure | 300 | 2.4% | S100YG44 |
| Free cash flow | -83 | -0.7% | 算出 |
| Investing cash flow | -128 | -1.0% | S100YG44 |
| Financing cash flow | 639 | 5.1% | S100YG44 |
| Change in cash | 730 | 5.8% | S100YG44 |
| Cash and equivalents | 1,562 | 12.4% | S100YG44 |

## 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 | 740 | 1,133 | 975 | 833 | 1,562 | S100TSL3, S100W51F, S100YG44 |
| Total assets | 1,484 | 2,214 | 3,186 | 3,976 | 5,691 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Net assets | 849 | 1,047 | 1,278 | 1,691 | 2,076 | S100TSL3, S100W51F, S100YG44 |
| Share capital | 261 | 268 | 269 | 426 | 561 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Property, plant and equipment | 51 | 100 | 131 | 140 | 136 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Intangible assets excluding goodwill | 58 | 73 | 442 | 976 | 1,330 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Goodwill | — | — | 246 | 414 | 562 | S100W51F, S100YG44 |
| Investment securities | 19 | 21 | 21 | 16 | 19 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Current assets | 1,247 | 1,867 | 1,999 | 2,121 | 3,262 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Current liabilities | 580 | 1,015 | 1,410 | 1,884 | 2,736 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Short-term borrowings | — | — | 30 | 230 | 200 | S100W51F, S100YG44 |
| Long-term borrowings | 55 | 152 | 369 | 221 | 593 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Total liabilities | 635 | 1,167 | 1,908 | 2,285 | 3,615 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Equity attributable to owners of parent | 849 | 1,047 | 1,278 | 1,683 | 2,045 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Retained earnings | 406 | 591 | 821 | 912 | 1,004 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |
| Treasury stock | -0 | -1 | -1 | -1 | -1 | S100R6RZ, S100TSL3, S100W51F, S100YG44 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100YG44 |
| Property, plant and equipment | 2% | S100YG44 |
| Intangibles and goodwill | 33% | S100YG44 |
| Investment securities | 0% | S100YG44 |
| Other assets | 37% | S100YG44 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 64% | S100YG44 |
| Equity | 36% | S100YG44 |

### 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 | 1,484 | 2,214 | 3,186 | 3,976 | 5,691 |
| Equity | 849 | 1,047 | 1,278 | 1,691 | 2,076 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 740 | 1,133 | 975 | 833 | 1,562 |

## 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) | 1.1% | S100YG44 |
| Fixed assets ÷ total assets | 2.4% | S100YG44 |
| Goodwill ÷ parent equity | 27.5% | S100YG44 |

### 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) | 27.5% |
| Cash ÷ revenue | 12.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 123.4% |
| Cash vs. profit gap | 125 JPY mn (of net income 136.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.4% |
| Investing CF relative to operating CF | 59.0% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 1.4% | 3.24× | 4.5% | 1.75× | 7.8% | S100R6RZ |
| 2023 | 3.1% | 3.27× | 10.0% | 1.95× | 19.5% | S100TSL3 |
| 2024 | 3.0% | 2.80× | 8.5% | 2.32× | 19.8% | S100W51F |
| 2025 | 0.9% | 2.87× | 2.5% | 2.42× | 6.1% | S100YG44 |
| 2026 | 0.7% | 2.61× | 1.9% | 2.59× | 4.9% | S100YG44 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社CRESCUNT | Major shareholder | 40.2% | 2026-03-31 |
| 栗原 将 | Major shareholder | 15.5% | 2026-03-31 |
| 栗原 剛 | Major shareholder | 4.3% | 2026-03-31 |
| 伊藤忠エネクスホームライフ株式会社 | Major shareholder | 4.0% | 2026-03-31 |
| 株式会社カインズ | Major shareholder | 4.0% | 2026-03-31 |
| 松田 健太郎 | Major shareholder | 1.9% | 2026-03-31 |
| 栩本 泰輝 | Major shareholder | 0.9% | 2026-03-31 |
| 株式会社ＫＷホールディングス | Major shareholder | 0.8% | 2026-03-31 |
| 榊原 暢宏 | Major shareholder | 0.8% | 2026-03-31 |
| 柏木 大助 | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第28期(2025/04/01－2026/03/31) | S100YG44 | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG44,, |
| 有価証券報告書－第27期(2024/04/01－2025/03/31) | S100W51F | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W51F,, |
| 有価証券報告書－第26期(2023/04/01－2024/03/31) | S100TSL3 | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSL3,, |
| 有価証券報告書－第25期(2022/04/01－2023/03/31) | S100R6RZ | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6RZ,, |
| 有価証券報告書－第24期(令和3年4月1日－令和4年3月31日) | S100OHD2 | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHD2,, |
| 有価証券報告書－第23期(令和2年4月1日－令和3年3月31日) | S100LT6Z | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LT6Z,, |

## 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).