# Laboro.AI: 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10期(2024/10/01－2025/09/30) (S100XBVM)
> Page: https://vizora.meequs.com/en/company/laboro-ai
> Retrieved: 2026-09-30T21:37:44.314Z

## Company

Laboro.AI, founded in 2016, is a company in IT Services & System Integration listed on TSE Growth. It has 100 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Laboro.AI Inc. |
| Ticker | 5586 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5586.T) |
| Listing | TSE Growth |
| Head office | 東京都中央区銀座八丁目11番1号 |
| Representative (per filing) | 代表取締役CEO 椎橋 徹夫 |
| Founded | Apr 2016 |
| Share capital | ¥1.01B |
| Employees (consolidated) | 100 |
| Average salary (parent only) | ¥9.7M |
| Fiscal year end | September |
| Website | laboro.ai (https://laboro.ai/) |
| Corporate number | 7010001174744 |
| EDINET | E38755 |
| Industries (Vizora) | IT Services & System Integration |

> Profile source: annual securities report (S100XBVM, filed 2025-12-19). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2025-09-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 58.9 | 196 |
| Cash conversion | 75.4 | 185 |
| Efficiency | 6.4 | 196 |

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 100% of Laboro.AI's sales come from Custom AI Solution Business, with System Development Business making up much of the rest.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +25.4% from the prior year, operating profit +4.4%.

## Company structure

- Segment revenue mix: Custom AI Solution Business 99.6%、System Development Business 0.4%
- Revenue → net income: ¥1900339000 → ¥146802000
- Net income → operating cash flow: ¥146802000 → ¥215846000（difference ¥69044000）
- Main uses of operating cash flow: CapEx ¥54928000 / dividends — / buybacks ¥45000
- Change in cash: ¥525427000
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 | ¥1.9B |  |
| Operating income | ¥191.4M | Margin 10.1% |
| Net income | ¥146.8M | Margin 7.7% |
| Free cash flow | ¥160.9M |  |
| Largest business | Custom AI Solution Business | of segment revenue 99.6% |
| Employees (consolidated) | 100 |  |
| EPS | ¥12.59 |  |
| Diluted EPS | ¥12.36 |  |
| Book value per share | ¥163.39 |  |
| Equity ratio | 90.6% |  |
| Shares outstanding | 15,918,577 |  |
| Shareholders | 11,844 |  |
| Average salary (parent only) | ¥9.7M | Filing company only |
| Cash ratio | 72.8% | Cash ÷ revenue 107.8% |
| Vs. industry median margin | +1.2 pp | IT Services & System Integration |
| ROE | 5.8% | Derived from disclosed figures |
| ROA | 5.2% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 100% of positive segment profit
- FY2025, cash is 73% of total assets

## What changed in 3 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Sep 2022 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥733049000 | ¥1900339000 | — |
| Operating income | ¥-55043000 | ¥191436000 | — |
| Operating margin | -7.5% | 10.1% | +17.6 pp |
| Employees | 40 people | 100 people | — |
| Cash and equivalents | ¥965777000 | ¥2048825000 | — |

### Change in segment revenue mix

Span: FY ending Sep 2022 → 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 |
| --- | ---: |
| 新設・再編 → カスタムAIソリューション事業 | 99.6% |
| 新設・再編 → システム開発事業 | 0.4% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,900 | 100.0% | S100XBVM |
| Cost of revenue | 628 | 33.1% | S100XBVM |
| Gross profit | 1,272 | 66.9% | S100XBVM |
| SG&A | 1,081 | 56.9% | S100XBVM |
| Operating income | 191 | 10.1% | S100XBVM |
| Ordinary income | 166 | 8.7% | S100XBVM |
| Pretax income | 215 | 11.3% | S100XBVM |
| Income tax | 68 | 3.6% | S100XBVM |
| Net income | 147 | 7.7% | S100XBVM |
| Net income attributable to owners | 147 | 7.7% | S100XBVM |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 33 |
| SG&A | 57 |
| Operating income | 10 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 66.9% → Operating margin 10.1% → Net margin 7.7%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,515 | 1,900 | 385 | +25.4% |
| Gross profit | 1,016 | 1,272 | 256 | +25.2% |
| Operating income | 183 | 191 | 8 | +4.4% |
| Operating cash flow | 5 | 216 | 211 | +4652.2% |
| Free cash flow | -40 | 161 | 201 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2022 | 733 | -55 | -7.5% | -40 | -182 | -222 | S100SHZH |
| FY ending Sep 2023 | 1,369 | 206 | 15.1% | 140 | 117 | 101 | S100V0AT |
| FY ending Sep 2024 | 1,515 | 183 | 12.1% | 134 | 5 | -40 | S100V0AT |
| FY ending Sep 2025 | 1,900 | 191 | 10.1% | 147 | 216 | 161 | S100XBVM |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥19M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.5M |

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

| History | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 40 | 56 | 71 | 100 |
| Average salary (parent company) | — | ¥9.8M | ¥9.9M | ¥9.7M |
| Average age (parent company) | — | 36.3 years | 35.9 years | 36.2 years |
| Average tenure (parent company) | — | 1.8 years | 2.0 years | 2.4 years |

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Custom AI Solution Business | 1,892 | 99.6% | 251 | 13.2% |
| System Development Business | 8 | 0.4% | -59 | -755.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Custom AI Solution Business | 99.6% | 100.0% | 0.4 | 13.2% |
| System Development Business | 0.4% | — | — | -755.6% |

Loss-making segment (excluded from profit shares): System Development Business -59 JPY mn

Segment → industry: System Development Business → IT Services & System Integration / Custom AI Solution Business → IT Services & System Integration

## 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 | 216 | 11.4% | S100XBVM |
| Capital expenditure | 55 | 2.9% | S100XBVM |
| Free cash flow | 161 | 8.5% | 算出 |
| Investing cash flow | 301 | 15.8% | S100XBVM |
| Financing cash flow | 9 | 0.5% | S100XBVM |
| Share buyback | 0 | 0.0% | S100XBVM |
| Change in cash | 525 | 27.6% | S100XBVM |
| Cash and equivalents | 2,049 | 107.8% | S100XBVM |

## 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 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 966 | 1,944 | 1,523 | 2,049 | S100V0AT, S100XBVM |
| Total assets | 1,320 | 2,491 | 2,592 | 2,813 | S100SHZH, S100V0AT, S100XBVM |
| Net assets | 1,170 | 2,248 | 2,391 | 2,548 | S100V0AT, S100XBVM |
| Share capital | 535 | 1,005 | 1,009 | 1,014 | S100SHZH, S100V0AT, S100XBVM |
| Property, plant and equipment | 43 | 41 | 59 | 81 | S100SHZH, S100V0AT, S100XBVM |
| Intangible assets excluding goodwill | — | — | — | 70 | S100XBVM |
| Goodwill | — | — | — | 59 | S100XBVM |
| Current assets | 1,229 | 2,415 | 2,110 | 2,624 | S100SHZH, S100V0AT, S100XBVM |
| Current liabilities | 98 | 242 | 200 | 265 | S100SHZH, S100V0AT, S100XBVM |
| Long-term borrowings | 52 | — | — | — | S100SHZH |
| Total liabilities | 150 | 242 | 200 | 265 | S100SHZH, S100V0AT, S100XBVM |
| Equity attributable to owners of parent | 1,169 | 2,248 | 2,391 | 2,548 | S100SHZH, S100V0AT, S100XBVM |
| Retained earnings | 109 | 249 | 383 | 529 | S100SHZH, S100V0AT, S100XBVM |
| Treasury stock | — | — | — | -0 | S100XBVM |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 73% | S100XBVM |
| Property, plant and equipment | 3% | S100XBVM |
| Intangibles and goodwill | 4% | S100XBVM |
| Other assets | 20% | S100XBVM |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 9% | S100XBVM |
| Equity | 91% | S100XBVM |

### Balance sheet history

| Metric | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: |
| Total assets | 1,320 | 2,491 | 2,592 | 2,813 |
| Equity | 1,170 | 2,248 | 2,391 | 2,548 |
| Interest-bearing debt | — | — | — | — |
| Cash | 966 | 1,944 | 1,523 | 2,049 |

## 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) | 4.3% | S100XBVM |
| Fixed assets ÷ total assets | 2.9% | S100XBVM |
| Goodwill ÷ parent equity | 2.3% | S100XBVM |

### 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) | 72.8% |
| Cash ÷ revenue | 107.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 112.8% |
| Cash vs. profit gap | 69 JPY mn (of net income 47.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.9% |
| Investing CF relative to operating CF | 139.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | — | —× | -3.0% | —× | — | S100SHZH |
| 2023 | 10.2% | 0.72× | 7.3% | 1.12× | 8.2% | S100V0AT |
| 2024 | 8.8% | 0.60× | 5.3% | 1.10× | 5.8% | S100V0AT |
| 2025 | 7.7% | 0.68× | 5.2% | 1.10× | 5.8% | S100XBVM |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 椎橋 徹夫 | Major shareholder | 23.9% | 2025-09-30 |
| 藤原 弘将 | Major shareholder | 23.9% | 2025-09-30 |
| 株式会社博報堂 | Major shareholder | 7.4% | 2025-09-30 |
| 松藤 洋介 | Major shareholder | 5.3% | 2025-09-30 |
| 株式会社SCREENホールディングス | Major shareholder | 2.2% | 2025-09-30 |
| 株式会社SCREENアドバンストシステムソリューションズ | Major shareholder | 1.4% | 2025-09-30 |
| 山口 浩司 | Major shareholder | 1.0% | 2025-09-30 |
| 福田 朋秋 | Major shareholder | 0.9% | 2025-09-30 |
| 日本碍子株式会社 | Major shareholder | 0.7% | 2025-09-30 |
| 楽天証券株式会社 | Major shareholder | 0.5% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第10期(2024/10/01－2025/09/30) | S100XBVM | 2025-12-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XBVM,, |
| 有価証券報告書－第9期(2023/10/01－2024/09/30) | S100V0AT | 2024-12-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100V0AT,, |
| 有価証券報告書－第8期(2022/10/01－2023/09/30) | S100SHZH | 2023-12-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SHZH,, |

## 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).