# Kyoei Security Service Co., Ltd.: business model and financials

> Latest period: FY ending Mar 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第41期(2024/04/01－2025/03/31) (S100W9QB)
> Page: https://vizora.meequs.com/en/company/kyoei-security-service
> Retrieved: 2026-09-30T20:26:48.016Z

## Company

Kyoei Security Service, founded in 1985, is a company in Security Services listed on TSE Standard. It has 750 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Kyoei Security Service Co., Ltd. |
| Ticker | 7058 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7058.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区九段南一丁目6番17号千代田会館 |
| Representative (per filing) | 代表取締役社長 我妻文男 |
| Founded | May 1985 |
| Share capital | ¥100M |
| Employees (consolidated) | 750 |
| Average salary (parent only) | ¥3.6M |
| Fiscal year end | March |
| Website | www.kyoei-ss.co.jp (https://www.kyoei-ss.co.jp/) |
| Corporate number | 8010001088704 |
| EDINET | E34722 |
| Industries (Vizora) | Security Services |

> Profile source: annual securities report (S100W9QB, filed 2025-06-30). As of filing

## Five-axis industry profile

Primary industry: Security Services (2025-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 64.3 | 7 |
| Profitability | 21.4 | 7 |
| Cash conversion | 21.4 | 7 |
| Efficiency | 92.9 | 7 |

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)

- Kyoei Security Service brought in ¥10.1B in revenue.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +8.1% from the prior year, operating profit +56.8%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥10.1B |  |
| Operating income | ¥484.9M | Margin 4.8% |
| Net income | -¥38.7M | Margin -0.4% |
| Free cash flow | — |  |
| Employees (consolidated) | 750 |  |
| EPS | ¥-55.82 |  |
| Book value per share | ¥3012.86 |  |
| Equity ratio | 71.3% |  |
| Shares outstanding | 1,506,500 |  |
| Treasury shares | 59,300 |  |
| Shareholders | 900 |  |
| Average salary (parent only) | ¥3.6M | Filing company only |
| Cash ratio | 18.2% | Cash ÷ revenue 11.4% |
| Vs. industry median margin | -2 pp | Security Services |
| ROA | -0.6% | Derived from disclosed figures |

## Notable figures

- FY2025, employees -6% while operating income rose 57%

## What changed in 5 years

| Metric | FY ending Mar 2020 | FY ending Mar 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6415809000 | ¥10113415000 | +57.6% |
| Operating income | ¥445700000 | ¥484862000 | +8.8% |
| Operating margin | 6.9% | 4.8% | -2.2 pp |
| Employees | 399 people | 750 people | +88.0% |
| Cash and equivalents | ¥2115117000 | ¥1157420000 | -45.3% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 10,113 | 100.0% | S100W9QB |
| Cost of revenue | 7,763 | 76.8% | S100W9QB |
| Gross profit | 2,351 | 23.2% | S100W9QB |
| SG&A | 1,866 | 18.5% | S100W9QB |
| Operating income | 485 | 4.8% | S100W9QB |
| Ordinary income | 542 | 5.4% | S100W9QB |
| Pretax income | 189 | 1.9% | S100W9QB |
| Income tax | 228 | 2.2% | S100W9QB |
| Net income | -39 | -0.4% | S100W9QB |
| Net income attributable to owners | -39 | -0.4% | S100W9QB |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 18 |
| Operating income | 5 |
| (Ref.) Net income | 0 |

### Margin funnel

Gross margin 23.2% → Operating margin 4.8% → Net margin -0.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.1%; Core profit growth: +56.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 7.01×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 9,355 | 10,113 | 759 | +8.1% |
| Gross profit | 2,086 | 2,351 | 265 | +12.7% |
| Operating income | 309 | 485 | 176 | +56.8% |
| Net income attributable to owners | 249 | -39 | -287 | -115.6% |
| Operating cash flow | 249 | 399 | 150 | +60.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2019 | 5,682 | 404 | 7.1% | 277 | 390 | — | S100IYY2 |
| FY ending Mar 2020 | 6,416 | 446 | 6.9% | 326 | 234 | — | S100LN76 |
| FY ending Mar 2021 | 6,184 | 329 | 5.3% | 275 | 157 | — | S100OICO |
| FY ending Mar 2022 | 7,998 | 971 | 12.1% | 737 | 912 | — | S100R9T0 |
| FY ending Mar 2023 | 8,018 | 489 | 6.1% | 451 | -88 | — | S100TY9E |
| FY ending Mar 2024 | 9,355 | 309 | 3.3% | 249 | 249 | — | S100W9QB |
| FY ending Mar 2025 | 10,113 | 485 | 4.8% | -39 | 399 | — | S100W9QB |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥13.5M |
| Operating income per employee (consolidated) | ¥646.5K |
| Net income per employee (consolidated) | -¥51.6K |

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

| History | FY ending Mar 2021 | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 565 | 642 | 832 | 802 | 750 |
| Average salary (parent company) | ¥3.4M | ¥3.4M | ¥3.4M | ¥3.4M | ¥3.6M |
| Average age (parent company) | 38.4 years | 33.8 years | 32.9 years | 34.5 years | 35.9 years |
| Average tenure (parent company) | 6.5 years | 5.3 years | 5.3 years | 6.1 years | 7.5 years |

Year over year: Employees (consolidated) -6.5% · Revenue (consolidated) +8.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 399 | 3.9% | S100W9QB |
| Investing cash flow | -149 | -1.5% | S100W9QB |
| Financing cash flow | -592 | -5.9% | S100W9QB |
| Dividends paid | 130 | 1.3% | S100W9QB |
| Share buyback | 7 | 0.1% | S100W9QB |
| Change in cash | -343 | -3.4% | S100W9QB |
| Cash and equivalents | 1,157 | 11.4% | S100W9QB |

## 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 2021 | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,473 | 3,136 | 1,372 | 1,500 | 1,157 | S100R9T0, S100TY9E, S100W9QB |
| Total assets | 4,875 | 5,865 | 5,846 | 6,811 | 6,353 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Net assets | 3,723 | 4,353 | 4,586 | 4,706 | 4,532 | S100R9T0, S100TY9E, S100W9QB |
| Share capital | 499 | 499 | 100 | 100 | 100 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Trade receivables | 664 | 891 | — | — | — | S100OICO |
| Property, plant and equipment | 278 | 283 | 332 | 347 | 339 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Intangible assets excluding goodwill | 18 | 9 | 144 | 673 | 365 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Goodwill | — | — | 138 | 670 | 365 | S100TY9E, S100W9QB |
| Investment securities | 161 | 177 | 37 | 53 | 85 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Current assets | 3,792 | 4,680 | 4,589 | 4,559 | 3,468 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Current liabilities | 801 | 1,280 | 1,108 | 1,413 | 1,422 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Trade payables | 20 | 80 | — | — | — | S100OICO |
| Long-term borrowings | 317 | 202 | 122 | 628 | 345 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Total liabilities | 1,152 | 1,513 | 1,260 | 2,106 | 1,820 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Equity attributable to owners of parent | 3,721 | 4,351 | 4,585 | 4,705 | 4,529 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Retained earnings | 2,880 | 3,501 | 3,735 | 3,853 | 3,684 | S100OICO, S100R9T0, S100TY9E, S100W9QB |
| Treasury stock | -194 | -178 | -178 | -175 | -181 | S100OICO, S100R9T0, S100TY9E, S100W9QB |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 18% | S100W9QB |
| Property, plant and equipment | 5% | S100W9QB |
| Intangibles and goodwill | 12% | S100W9QB |
| Investment securities | 1% | S100W9QB |
| Other assets | 64% | S100W9QB |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 29% | S100W9QB |
| Equity | 71% | S100W9QB |
| Other liabilities | 0% | S100W9QB |

### Balance sheet history

| Metric | FY ending Mar 2021 | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 4,875 | 5,865 | 5,846 | 6,811 | 6,353 |
| Equity | 3,723 | 4,353 | 4,586 | 4,706 | 4,532 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,473 | 3,136 | 1,372 | 1,500 | 1,157 |

## 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) | 3.4% | S100W9QB |
| Fixed assets ÷ total assets | 5.3% | S100W9QB |
| Goodwill ÷ parent equity | 8.1% | S100W9QB |

### 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) | 18.2% |
| Cash ÷ revenue | 11.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 82.2% |
| Cash vs. profit gap | 437 JPY mn |
| 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 | 37.4% |

## 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 | 4.4% | 1.27× | 5.6% | 1.31× | 7.4% | S100OICO |
| 2022 | 9.2% | 1.49× | 13.7% | 1.33× | 18.3% | S100R9T0 |
| 2023 | 5.6% | 1.37× | 7.7% | 1.31× | 10.1% | S100TY9E |
| 2024 | 2.7% | 1.48× | 3.9% | 1.36× | 5.4% | S100W9QB |
| 2025 | — | —× | -0.6% | —× | — | S100W9QB |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 合同会社あっとプラニング | Major shareholder | 44.4% | 2025-03-31 |
| 株式会社ケイ・エス・エス | Major shareholder | 8.4% | 2025-03-31 |
| マックスコーポレーション株式会社 | Major shareholder | 7.6% | 2025-03-31 |
| 共栄セキュリティーサービス社員持株会 | Major shareholder | 3.3% | 2025-03-31 |
| セコム株式会社 | Major shareholder | 3.1% | 2025-03-31 |
| 光通信株式会社 | Major shareholder | 2.8% | 2025-03-31 |
| 合同会社K-mac | Major shareholder | 2.4% | 2025-03-31 |
| 阿部 克巳 | Major shareholder | 2.3% | 2025-03-31 |
| 森 樹雄 | Major shareholder | 2.2% | 2025-03-31 |
| 櫻井 律子 | Major shareholder | 1.4% | 2025-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第41期(2024/04/01－2025/03/31) | S100W9QB | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W9QB,, |
| 有価証券報告書－第40期(2023/04/01－2024/03/31) | S100TY9E | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TY9E,, |
| 有価証券報告書－第39期(2022/04/01－2023/03/31) | S100R9T0 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9T0,, |
| 有価証券報告書－第38期(令和3年4月1日－令和4年3月31日) | S100OICO | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OICO,, |
| 有価証券報告書－第37期(令和2年4月1日－令和3年3月31日) | S100LN76 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN76,, |
| 有価証券報告書－第36期(平成31年4月1日－令和2年3月31日) | S100IYY2 | 2020-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100IYY2,, |

## 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).