# LITALICO: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第6期(2025/04/01－2026/03/31) (S100YDDX)
> Page: https://vizora.meequs.com/en/company/litalico
> Retrieved: 2026-09-30T21:38:32.338Z

## Company

Litalico, founded in 2020, is a company in Health Tech listed on TSE Prime. It has 5,443 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | LITALICO Inc. |
| Ticker | 7366 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7366.T) |
| Listing | TSE Prime |
| Head office | 東京都目黒区上目黒二丁目1番1号 |
| Representative (per filing) | 代表取締役社長 長谷川 敦弥 |
| Founded | Apr 2020 |
| Share capital | ¥300M |
| Employees (consolidated) | 5,443 |
| Average salary (parent only) | ¥5.5M |
| Fiscal year end | March |
| Website | www.litalico.co.jp (https://www.litalico.co.jp/) |
| Corporate number | 4011001133197 |
| EDINET | E36134 |
| Industries (Vizora) | Health Tech, HR & Staffing, Nursing Care, Education, Childcare |

> Profile source: annual securities report (S100YDDX, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: Nursing Care (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 92.9 | 21 |
| Cash conversion | 65.8 | 19 |
| Efficiency | 50 | 21 |

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 37% of Litalico's sales come from Works Service, with Junior Service and Platform business making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +17.7% from the prior year, operating profit +32.8%.

## Company structure

- Segment revenue mix: Works Service 37.0%、Junior Service 28.6%、Platform business 14.3%、Other 10.5%、Overseas business 9.6%
- Revenue → net income: ¥38247000000 → ¥2738000000
- Net income → operating cash flow: ¥2738000000 → ¥7189000000（difference ¥4451000000）
- Main uses of operating cash flow: CapEx ¥5868000000 / dividends ¥321000000 / buybacks ¥1300000000
- Change in cash: ¥3760000000
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 | ¥38.2B |  |
| Operating income | ¥4.58B | Margin 12.0% |
| Net income | ¥2.74B | Margin 7.2% |
| Free cash flow | ¥1.32B |  |
| Largest business | Works Service | of segment revenue 37.0% |
| Employees (consolidated) | 5,443 |  |
| EPS | ¥77.54 |  |
| Diluted EPS | ¥77.37 |  |
| Book value per share | ¥300.37 |  |
| Equity ratio | 32.8% | Derived from disclosed figures |
| Shares outstanding | 35,712,312 |  |
| Treasury shares | 1,004,300 |  |
| Shareholders | 3,757 |  |
| Average salary (parent only) | ¥5.5M | Filing company only |
| Cash ratio | 18.5% | Cash ÷ revenue 21.2% |
| Vs. industry median margin | +5.8 pp | Nursing Care |
| ROE | 20.4% | Derived from disclosed figures |
| ROA | 7.2% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 4.0× dividends
- FY2026, operating cash flow is 2.6× net income

## What changed in 5 years

Accounting standard changed in FY2022; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1003709000 | ¥38247000000 | — |
| Operating income | ¥-140020000 | ¥4576000000 | — |
| Operating margin | -14.0% | 12.0% | +25.9 pp |
| Employees | 134 people | 5,443 people | — |
| Cash and equivalents | ¥99550000 | ¥8095000000 | — |

### 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 → 就労支援事業 | 37.0% |
| 新設・再編 → 児童福祉事業 | 28.6% |
| 新設・再編 → プラットフォーム事業 | 14.3% |
| 新設・再編 → 海外事業 | 9.6% |
| 新設・再編 → その他 | 10.5% |

Segment revenue source references: 5 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Works Service | 3 years | +14.2% | ¥14162000000 | 30.8% | 2 |
| Junior Service | 3 years | +11.4% | ¥10951000000 | 9.3% | 2 |
| Platform business | 3 years | +19.6% | ¥5476000000 | 32.7% | 2 |
| Other | 4 years | +11.3% | ¥4003000000 | 9.8% | 2 |
| Overseas business | — | — | ¥3655000000 | 23.5% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 38,247 | 100.0% | S100YDDX |
| Cost of revenue | 23,343 | 61.0% | S100YDDX |
| Gross profit | 14,904 | 39.0% | S100YDDX |
| SG&A | 10,418 | 27.2% | S100YDDX |
| Operating income | 4,576 | 12.0% | S100YDDX |
| Pretax income | 4,233 | 11.1% | S100YDDX |
| Income tax | 1,300 | 3.4% | S100YDDX |
| Net income | 2,738 | 7.2% | S100YDDX |
| Net income attributable to owners | 2,738 | 7.2% | S100YDDX |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 61 |
| SG&A | 27 |
| Operating income | 12 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 39.0% → Operating margin 12.0% → Net margin 7.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.7%; Core profit growth: +32.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.85×
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 | 32,484 | 38,247 | 5,763 | +17.7% |
| Gross profit | 12,099 | 14,904 | 2,805 | +23.2% |
| Operating income | 3,445 | 4,576 | 1,131 | +32.8% |
| Net income attributable to owners | 2,402 | 2,738 | 336 | +14.0% |
| Operating cash flow | 4,944 | 7,189 | 2,245 | +45.4% |
| Free cash flow | 2,745 | 1,321 | -1,424 | -51.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2021 | 1,004 | -140 | -14.0% | -123 | -195 | — | S100LTTP |
| FY ending Mar 2022 | 19,737 | 2,444 | 12.4% | 1,078 | 1,692 | 427 | S100R651 |
| FY ending Mar 2023 | 24,170 | 2,928 | 12.1% | 1,812 | 4,188 | 2,451 | S100TWQK |
| FY ending Mar 2024 | 27,676 | 3,473 | 12.5% | 3,545 | 5,389 | 3,169 | S100WBCQ |
| FY ending Mar 2025 | 32,484 | 3,445 | 10.6% | 2,402 | 4,944 | 2,745 | S100YDDX |
| FY ending Mar 2026 | 38,247 | 4,576 | 12.0% | 2,738 | 7,189 | 1,321 | S100YDDX |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥7M |
| Operating income per employee (consolidated) | ¥840.7K |
| Net income per employee (consolidated) | ¥503K |

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) | 3,156 | 4,137 | 4,714 | 5,075 | 5,443 |
| Average salary (parent company) | ¥5.3M | ¥5.5M | ¥5.8M | ¥5.7M | ¥5.5M |
| Average age (parent company) | 32.2 years | 33.2 years | 34.1 years | 34.2 years | 34.7 years |
| Average tenure (parent company) | 3.5 years | 3.8 years | 4.4 years | 4.7 years | 4.9 years |

Year over year: Employees (consolidated) +7.3% · Revenue (consolidated) +17.7%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Works Service | 14,162 | 37.0% | 4,358 | 30.8% |
| Junior Service | 10,951 | 28.6% | 1,017 | 9.3% |
| Platform business | 5,476 | 14.3% | 1,789 | 32.7% |
| Overseas business | 3,655 | 9.6% | 860 | 23.5% |
| Other | 4,003 | 10.5% | 391 | 9.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Works Service | 37.0% | 51.8% | 14.8 | 30.8% |
| Junior Service | 28.6% | 12.1% | -16.5 | 9.3% |
| Platform business | 14.3% | 21.3% | 6.9 | 32.7% |
| Overseas business | 9.6% | 10.2% | 0.7 | 23.5% |
| Other | 10.5% | 4.6% | -5.8 | 9.8% |

Segment → industry: Platform business → Health Tech / Platform business → HR & Staffing / Works Service → Nursing Care / Junior Service → Education / Junior Service → Childcare

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 7,189 | 18.8% | S100YDDX |
| Capital expenditure | 5,868 | 15.3% | S100YDDX |
| Free cash flow | 1,321 | 3.5% | 算出 |
| Investing cash flow | -7,104 | -18.6% | S100YDDX |
| Financing cash flow | 3,585 | 9.4% | S100YDDX |
| Dividends paid | 321 | 0.8% | S100YDDX |
| Share buyback | 1,300 | 3.4% | S100YDDX |
| Change in cash | 3,760 | 9.8% | S100YDDX |
| Cash and equivalents | 8,095 | 21.2% | S100YDDX |

## 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 | 2,282 | 3,700 | 4,507 | 4,335 | 8,095 | S100TWQK, S100WBCQ, S100YDDX |
| Total assets | 17,827 | 22,725 | 25,311 | 32,724 | 43,796 | S100TWQK, S100WBCQ, S100YDDX |
| Net assets | 5,144 | 6,886 | 10,427 | 12,469 | 14,360 | S100TWQK, S100WBCQ, S100YDDX |
| Share capital | 428 | 464 | 501 | 528 | 300 | S100TWQK, S100WBCQ, S100YDDX |
| Property, plant and equipment | 2,527 | 2,742 | 2,908 | 3,178 | 7,068 | S100TWQK, S100WBCQ, S100YDDX |
| Intangible assets excluding goodwill | 3,454 | 5,192 | — | — | — | S100R651 |
| Goodwill | 2,210 | 3,231 | 3,858 | 9,714 | 11,343 | S100TWQK, S100WBCQ, S100YDDX |
| Investment securities | 1,194 | 938 | — | — | — | S100R651 |
| Current assets | 6,198 | 8,636 | 10,281 | 11,318 | 15,736 | S100TWQK, S100WBCQ, S100YDDX |
| Current liabilities | 4,913 | 6,087 | — | — | — | S100R651 |
| Short-term borrowings | 1,300 | 1,500 | — | — | — | S100R651 |
| Long-term borrowings | 3,431 | 5,110 | — | — | — | S100R651 |
| Total liabilities | 12,683 | 15,839 | 14,883 | 20,255 | 29,437 | S100TWQK, S100WBCQ, S100YDDX |
| Equity attributable to owners of parent | 5,144 | 6,886 | 10,427 | 12,469 | 14,360 | S100TWQK, S100WBCQ, S100YDDX |
| Retained earnings | 4,217 | 5,852 | 9,165 | 11,287 | 13,708 | S100TWQK, S100WBCQ, S100YDDX |
| Treasury stock | -4 | -4 | -4 | -4 | -1,300 | S100TWQK, S100WBCQ, S100YDDX |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YDDX |
| Property, plant and equipment | 16% | S100YDDX |
| Intangibles and goodwill | 26% | — |
| Other assets | 39% | S100YDDX |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 67% | S100YDDX |
| Equity | 33% | S100YDDX |

### 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 | 17,827 | 22,725 | 25,311 | 32,724 | 43,796 |
| Equity | 5,144 | 6,886 | 10,427 | 12,469 | 14,360 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,282 | 3,700 | 4,507 | 4,335 | 8,095 |

## 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) | 18.5% | S100YDDX |
| Fixed assets ÷ total assets | 16.1% | S100YDDX |
| Goodwill ÷ parent equity | 79.0% | S100YDDX |

Goodwill over 4 years: 2,210 → 11,343 JPY; total investing cash flow: -20,669 JPY. This does not imply causation.

### 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) | 18.5% |
| Cash ÷ revenue | 21.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 157.1% |
| Cash vs. profit gap | 4,451 JPY mn (of net income 162.6%) |
| Shareholder returns / net income | 59.2% |
| Shareholder returns / FCF | 122.7% |
| Shareholder payments — dividends / net income | 11.7% |
| Shareholder payments — dividends / FCF | 24.3% |
| CapEx intensity (capex ÷ revenue) | 15.3% |
| Investing CF relative to operating CF | 98.8% |

## 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 | 5.5% | 1.11× | 6.0% | 3.47× | 21.0% | S100R651, S100TWQK |
| 2023 | 7.5% | 1.19× | 8.9% | 3.37× | 30.1% | S100TWQK |
| 2024 | 12.8% | 1.15× | 14.8% | 2.77× | 41.0% | S100WBCQ |
| 2025 | 7.4% | 1.12× | 8.3% | 2.53× | 21.0% | S100YDDX |
| 2026 | 7.2% | 1.00× | 7.2% | 2.85× | 20.4% | S100YDDX |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 長 谷 川 敦 弥 | Major shareholder | 28.3% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 13.6% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 6.4% | 2026-03-31 |
| MSIP CLIENT SECURITIES(常任代理人)モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 6.1% | 2026-03-31 |
| MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB (常任代理人)ＢＯＦＡ証券株式会社 | Major shareholder | 3.1% | 2026-03-31 |
| NOMURA INTERNATIONAL PLC A/C JAPAN FLOW(常任代理人)野村證券株式会社 | Major shareholder | 2.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505019 (常任代理人)株式会社みずほ銀行 | Major shareholder | 2.7% | 2026-03-31 |
| THE BANK OF NEW YORK 133652(常任代理人)株式会社みずほ銀行 | Major shareholder | 2.6% | 2026-03-31 |
| CACEIS BANK,LUXEMBOURG BRANCH / UCITS－FULL TAX(常任代理人)シティバンク、エヌ・エイ東京支店 | Major shareholder | 2.4% | 2026-03-31 |
| 佐 藤 崇 弘 | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第6期(2025/04/01－2026/03/31) | S100YDDX | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDDX,, |
| 訂正有価証券報告書－第5期(2024/04/01－2025/03/31) | S100WBCQ | 2025-07-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WBCQ,, |
| 有価証券報告書－第4期(2023/04/01－2024/03/31) | S100TWQK | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWQK,, |
| 有価証券報告書－第3期(2022/04/01－2023/03/31) | S100R651 | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R651,, |
| 有価証券報告書－第2期(令和3年4月1日－令和4年3月31日) | S100OKWO | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKWO,, |
| 有価証券報告書－第1期(令和2年4月1日－令和3年3月31日) | S100LTTP | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LTTP,, |

## 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).