# KURADASHI.Co.,Ltd.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第11期(2024/07/01－2025/06/30) (S100WRPW)
> Page: https://vizora.meequs.com/en/company/kuradashi
> Retrieved: 2026-09-30T19:08:26.066Z

## Company

Kuradashi., founded in 2014, is a company in E-commerce listed on TSE Growth. It has 39 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KURADASHI.Co.,Ltd. |
| Ticker | 5884 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5884.T) |
| Listing | TSE Growth |
| Head office | 東京都品川区上大崎三丁目2番1号 |
| Representative (per filing) | 代表取締役社長CEO 河村 晃平 |
| Founded | Jul 2014 |
| Share capital | ¥17.9M |
| Employees (consolidated) | 39 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | June |
| Website | corp.kuradashi.jp (https://corp.kuradashi.jp/) |
| Corporate number | 3011001100958 |
| EDINET | E38682 |
| Industries (Vizora) | E-commerce |

> Profile source: annual securities report (S100WRPW, filed 2025-09-26). As of filing

## Five-axis industry profile

Primary industry: E-commerce (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 10.3 | 34 |
| Efficiency | 30.9 | 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)

- Kuradashi. brought in ¥3.08B in revenue.
- It lost about ¥2 for every ¥100 of sales at the operating level.
- Revenue changed +7.5% from the prior year, operating profit -401.1%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥3.08B |  |
| Operating income | -¥63.8M | Margin -2.1% |
| Net income | -¥31.4M | Margin -1.0% |
| Free cash flow | -¥814M |  |
| Employees (consolidated) | 39 |  |
| EPS | ¥2.65 |  |
| Diluted EPS | ¥2.56 |  |
| Book value per share | ¥99.5 |  |
| Equity ratio | 33.1% |  |
| Shares outstanding | 10,899,888 |  |
| Shareholders | 12,354 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 33.3% | Cash ÷ revenue 33.5% |
| Vs. industry median margin | -7 pp | E-commerce |
| ROA | -1.0% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 33% of total assets

## What changed in 3 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Jun 2022 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2073684000 | ¥3075886000 | — |
| Operating income | ¥-74716000 | ¥-63817000 | — |
| Operating margin | -3.6% | -2.1% | +1.5 pp |
| Employees | 39 people | 39 people | — |
| Cash and equivalents | ¥781910000 | ¥1029592000 | — |

### Change in segment revenue mix

Span: FY ending Jun 2022 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,076 | 100.0% | S100WRPW |
| Cost of revenue | 1,666 | 54.2% | S100WRPW |
| Gross profit | 1,410 | 45.8% | S100WRPW |
| SG&A | 1,474 | 47.9% | S100WRPW |
| Operating income | -64 | -2.1% | S100WRPW |
| Ordinary income | -71 | -2.3% | S100WRPW |
| Pretax income | -52 | -1.7% | S100WRPW |
| Income tax | -21 | -0.7% | S100WRPW |
| Net income | -31 | -1.0% | S100WRPW |
| Net income attributable to owners | -31 | -1.0% | S100WRPW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 54 |
| SG&A | 48 |
| Operating income | -2 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 45.8% → Operating margin -2.1% → Net margin -1.0%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,862 | 3,076 | 214 | +7.5% |
| Gross profit | 1,331 | 1,410 | 79 | +6.0% |
| Operating income | 21 | -64 | -85 | -401.1% |
| Operating cash flow | -34 | 47 | 81 | — |
| Free cash flow | -124 | -814 | -690 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2022 | 2,074 | -75 | -3.6% | -80 | -22 | -67 | S100RWEQ |
| FY ending Jun 2023 | 2,910 | -164 | -5.6% | -167 | -162 | -216 | S100UFLN |
| FY ending Jun 2024 | 2,862 | 21 | 0.7% | 13 | -34 | -124 | S100UFLN |
| FY ending Jun 2025 | 3,076 | -64 | -2.1% | -31 | 47 | -814 | S100WRPW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥78.9M |
| Operating income per employee (consolidated) | -¥1.6M |
| Net income per employee (consolidated) | -¥805.6K |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 39 | 39 | 49 | 39 |
| Average salary (parent company) | — | ¥6.8M | ¥6.5M | ¥6.2M |
| Average age (parent company) | — | 35.1 years | 34.6 years | 34.2 years |
| Average tenure (parent company) | — | 1.7 years | 2.0 years | 2.9 years |

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 47 | 1.5% | S100WRPW |
| Capital expenditure | 861 | 28.0% | S100WRPW |
| Free cash flow | -814 | -26.5% | 算出 |
| Investing cash flow | -1,343 | -43.7% | S100WRPW |
| Financing cash flow | 1,344 | 43.7% | S100WRPW |
| Change in cash | 47 | 1.5% | S100WRPW |
| Cash and equivalents | 1,030 | 33.5% | S100WRPW |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 782 | 1,049 | 982 | 1,030 | S100UFLN, S100WRPW |
| Total assets | 1,053 | 1,343 | 1,454 | 3,096 | S100RWEQ, S100UFLN, S100WRPW |
| Net assets | 642 | 1,024 | 1,043 | 1,029 | S100UFLN, S100WRPW |
| Share capital | 35 | 310 | 312 | 18 | S100RWEQ, S100UFLN, S100WRPW |
| Property, plant and equipment | 12 | 15 | 10 | 803 | S100RWEQ, S100UFLN, S100WRPW |
| Intangible assets excluding goodwill | 47 | 73 | 147 | 661 | S100RWEQ, S100UFLN, S100WRPW |
| Goodwill | — | — | — | 494 | S100WRPW |
| Investment securities | — | — | — | 101 | S100WRPW |
| Current assets | 972 | 1,231 | 1,280 | 1,450 | S100RWEQ, S100UFLN, S100WRPW |
| Current liabilities | 354 | 280 | 317 | 1,684 | S100RWEQ, S100UFLN, S100WRPW |
| Short-term borrowings | 30 | — | — | 942 | S100RWEQ, S100WRPW |
| Long-term borrowings | 58 | 38 | 94 | 383 | S100RWEQ, S100UFLN, S100WRPW |
| Total liabilities | 411 | 318 | 411 | 2,067 | S100RWEQ, S100UFLN, S100WRPW |
| Equity attributable to owners of parent | 642 | 1,024 | 1,040 | 1,024 | S100RWEQ, S100UFLN, S100WRPW |
| Retained earnings | -34 | -202 | -189 | -31 | S100RWEQ, S100UFLN, S100WRPW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 33% | S100WRPW |
| Property, plant and equipment | 26% | S100WRPW |
| Intangibles and goodwill | 38% | S100WRPW |
| Investment securities | 3% | S100WRPW |
| Other assets | 0% | S100WRPW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 67% | S100WRPW |
| Equity | 33% | S100WRPW |
| Other liabilities | 0% | S100WRPW |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: |
| Total assets | 1,053 | 1,343 | 1,454 | 3,096 |
| Equity | 642 | 1,024 | 1,043 | 1,029 |
| Interest-bearing debt | — | — | — | — |
| Cash | 782 | 1,049 | 982 | 1,030 |

## 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) | 26.1% | S100WRPW |
| Fixed assets ÷ total assets | 25.9% | S100WRPW |
| Goodwill ÷ parent equity | 48.2% | S100WRPW |

### 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) | 33.3% |
| Cash ÷ revenue | 33.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 78 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 28.0% |
| Investing CF relative to operating CF | 2877.7% |

## 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 | — | —× | -7.6% | —× | — | S100RWEQ |
| 2023 | — | —× | -14.0% | —× | — | S100UFLN |
| 2024 | 0.4% | 2.05× | 0.9% | 1.36× | 1.2% | S100UFLN |
| 2025 | — | —× | -1.0% | —× | — | S100WRPW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Social Good | Major shareholder | 46.2% | 2025-06-30 |
| ACTWELL合同会社 | Major shareholder | 4.7% | 2025-06-30 |
| 新生ベンチャーパートナーズ２号投資事業有限責任組合 | Major shareholder | 3.5% | 2025-06-30 |
| HAKUHODO DY FUTURE DESIGN FUND投資事業有限責任組合 | Major shareholder | 2.8% | 2025-06-30 |
| 髙杉 慧 | Major shareholder | 2.4% | 2025-06-30 |
| ロート製薬株式会社 | Major shareholder | 1.4% | 2025-06-30 |
| 冨山 毅 | Major shareholder | 1.4% | 2025-06-30 |
| 大沢 亮 | Major shareholder | 0.8% | 2025-06-30 |
| 徳山 耕平 | Major shareholder | 0.8% | 2025-06-30 |
| SGインキュベート第１号投資事業有限責任組合 | Major shareholder | 0.7% | 2025-06-30 |
| 池森ベンチャーサポート合同会社 | Major shareholder | 0.7% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第11期(2024/07/01－2025/06/30) | S100WRPW | 2025-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WRPW,, |
| 有価証券報告書－第10期(2023/07/01－2024/06/30) | S100UFLN | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFLN,, |
| 有価証券報告書－第9期(2022/07/01－2023/06/30) | S100RWEQ | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWEQ,, |

## 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).