# LiB Consulting Co.,Ltd.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第14期(2025/01/01－2025/12/31) (S100XT4I)
> Page: https://vizora.meequs.com/en/company/lib-consulting
> Retrieved: 2026-09-30T20:58:09.564Z

## Company

LiB Consulting, founded in 2012, is a company in Consulting listed on TSE Growth. It has 345 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | LiB Consulting Co.,Ltd. |
| Ticker | 480A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/480A.T) |
| Listing | TSE Growth |
| Head office | 東京都中央区日本橋二丁目7番1号 東京日本橋タワー |
| Representative (per filing) | 代表取締役 関厳 |
| Founded | Jul 2012 |
| Share capital | ¥608M |
| Employees (consolidated) | 345 |
| Average salary (parent only) | ¥8.3M |
| Fiscal year end | December |
| Website | www.libcon.co.jp (https://www.libcon.co.jp/) |
| Corporate number | 4010001148263 |
| EDINET | E41154 |
| Industries (Vizora) | Consulting |

> Profile source: annual securities report (S100XT4I, filed 2026-03-25). As of filing

## Five-axis industry profile

Primary industry: Consulting (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 75.8 | 31 |
| Profitability | 71.6 | 44 |
| Cash conversion | 37.5 | 44 |
| Efficiency | 89.8 | 44 |

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)

- LiB Consulting brought in ¥6.11B in revenue.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed +22.8% from the prior year, operating profit +105.5%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥6109227000 → ¥508610000
- Net income → operating cash flow: ¥508610000 → ¥631261000（difference ¥122651000）
- Main uses of operating cash flow: CapEx ¥41623000 / dividends — / buybacks —
- Change in cash: ¥1491740000
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 | ¥6.11B |  |
| Operating income | ¥839.2M | Margin 13.7% |
| Net income | ¥511M | Margin 8.4% |
| Free cash flow | ¥589.6M |  |
| Employees (consolidated) | 345 |  |
| EPS | ¥98.61 |  |
| Diluted EPS | ¥84.7 |  |
| Book value per share | ¥503.86 |  |
| Equity ratio | 76.0% |  |
| Shares outstanding | 6,400,000 |  |
| Shareholders | 2,050 |  |
| Average salary (parent only) | ¥8.3M | Filing company only |
| Cash ratio | 54.6% | Cash ÷ revenue 39.2% |
| Vs. industry median margin | +4.2 pp | Consulting |
| ROE | 20.9% | Derived from disclosed figures |
| ROA | 14.6% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 55% of total assets

## What changed in 1 years

| Metric | FY ending Dec 2024 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4976878000 | ¥6109227000 | +22.8% |
| Operating income | ¥408443000 | ¥839165000 | +105.5% |
| Operating margin | 8.2% | 13.7% | +5.5 pp |
| Employees | 313 people | 345 people | +10.2% |
| Cash and equivalents | ¥900458000 | ¥2392198000 | +165.7% |

### Change in segment revenue mix

Span: FY ending Dec 2024 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,109 | 100.0% | S100XT4I |
| Cost of revenue | 3,109 | 50.9% | S100XT4I |
| Gross profit | 3,000 | 49.1% | S100XT4I |
| SG&A | 2,161 | 35.4% | S100XT4I |
| Operating income | 839 | 13.7% | S100XT4I |
| Ordinary income | 830 | 13.6% | S100XT4I |
| Pretax income | 845 | 13.8% | S100XT4I |
| Income tax | 337 | 5.5% | S100XT4I |
| Net income | 509 | 8.3% | S100XT4I |
| Net income attributable to owners | 511 | 8.4% | S100XT4I |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 35 |
| Operating income | 14 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 49.1% → Operating margin 13.7% → Net margin 8.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +22.8%; Core profit growth: +105.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.63×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 4,977 | 6,109 | 1,132 | +22.8% |
| Gross profit | 2,425 | 3,000 | 575 | +23.7% |
| Operating income | 408 | 839 | 431 | +105.5% |
| Net income attributable to owners | 272 | 511 | 239 | +87.6% |
| Operating cash flow | 502 | 631 | 129 | +25.7% |
| Free cash flow | 254 | 590 | 336 | +132.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2024 | 4,977 | 408 | 8.2% | 272 | 502 | 254 | S100XT4I |
| FY ending Dec 2025 | 6,109 | 839 | 13.7% | 511 | 631 | 590 | S100XT4I |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17.7M |
| Operating income per employee (consolidated) | ¥2.4M |
| 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 Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: |
| Employees (consolidated) | 313 | 345 |
| Average salary (parent company) | — | ¥8.3M |
| Average age (parent company) | — | 33.0 years |
| Average tenure (parent company) | — | 3.0 years |

Year over year: Employees (consolidated) +10.2% · Revenue (consolidated) +22.8%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 631 | 10.3% | S100XT4I |
| Capital expenditure | 42 | 0.7% | S100XT4I |
| Free cash flow | 590 | 9.7% | 算出 |
| Investing cash flow | -84 | -1.4% | S100XT4I |
| Financing cash flow | 943 | 15.4% | S100XT4I |
| Change in cash | 1,492 | 24.4% | S100XT4I |
| Cash and equivalents | 2,392 | 39.2% | S100XT4I |

## 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 Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 900 | 2,392 | S100XT4I |
| Total assets | 2,602 | 4,378 | S100XT4I |
| Net assets | 1,630 | 3,337 | S100XT4I |
| Share capital | 10 | 608 | S100XT4I |
| Property, plant and equipment | 274 | 251 | S100XT4I |
| Intangible assets excluding goodwill | 436 | 529 | S100XT4I |
| Goodwill | 376 | 463 | S100XT4I |
| Investment securities | 0 | 0 | S100XT4I |
| Current assets | 1,550 | 3,327 | S100XT4I |
| Current liabilities | 912 | 976 | S100XT4I |
| Short-term borrowings | 200 | — | S100XT4I |
| Total liabilities | 972 | 1,041 | S100XT4I |
| Non-controlling interests | 12 | 9 | S100XT4I |
| Equity attributable to owners of parent | 1,596 | 3,302 | S100XT4I |
| Retained earnings | 1,586 | 2,097 | S100XT4I |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 54% | S100XT4I |
| Property, plant and equipment | 6% | S100XT4I |
| Intangibles and goodwill | 23% | S100XT4I |
| Investment securities | 0% | S100XT4I |
| Other assets | 17% | S100XT4I |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100XT4I |
| Equity | 76% | S100XT4I |
| Other liabilities | 0% | S100XT4I |

### Balance sheet history

| Metric | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: |
| Total assets | 2,602 | 4,378 |
| Equity | 1,630 | 3,337 |
| Interest-bearing debt | — | — |
| Cash | 900 | 2,392 |

## 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) | 4.1% | S100XT4I |
| Fixed assets ÷ total assets | 5.7% | S100XT4I |
| Goodwill ÷ parent equity | 14.0% | S100XT4I |

### 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) | 54.6% |
| Cash ÷ revenue | 39.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 75.2% |
| Cash vs. profit gap | 120 JPY mn (of net income 23.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 13.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2024 | 5.5% | 1.91× | 10.5% | 1.63× | 17.1% | S100XT4I |
| 2025 | 8.4% | 1.75× | 14.6% | 1.42× | 20.9% | S100XT4I |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 関 厳 | Major shareholder | 56.7% | 2025-12-31 |
| 権田 和士 | Major shareholder | 9.7% | 2025-12-31 |
| 加藤 有 | Major shareholder | 4.0% | 2025-12-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 3.1% | 2025-12-31 |
| 楽天証券株式会社 | Major shareholder | 2.6% | 2025-12-31 |
| ＮＯＭＵＲＡ ＰＢ ＮＯＭＩＮＥＥＳ ＬＩＭＩＴＥＤ ＯＭＮＩＢＵＳ－ＭＡＲＧＩＮ （ＣＡＳＨＰＢ）（常任代理人：野村証券株式会社 代表取締役社長 奥田 健太郎） | Major shareholder | 2.6% | 2025-12-31 |
| 日本証券金融株式会社 | Major shareholder | 1.8% | 2025-12-31 |
| ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ） （常任代理人：株式会社三菱東京UFJ銀行 取締役執行役員 半沢 淳一） | Major shareholder | 1.6% | 2025-12-31 |
| 株式会社日本カストディ銀行 | Major shareholder | 1.1% | 2025-12-31 |
| 三菱ＵＦＪｅスマート証券株式会社 | Major shareholder | 0.8% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第14期(2025/01/01－2025/12/31) | S100XT4I | 2026-03-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XT4I,, |

## 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).