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

> Latest period: FY ending Jun 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第26期(2025/07/01－2026/06/30) (S100Z2RN)
> Page: https://vizora.meequs.com/en/company/logizard
> Retrieved: 2026-09-30T20:55:10.545Z

## Company

Logizard, founded in 2001, is a company in Software & SaaS listed on TSE Growth. It has 147 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Logizard Co., Ltd. |
| Ticker | 4391 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4391.T) |
| Listing | TSE Growth |
| Head office | 東京都中央区日本橋人形町三丁目3番6号 |
| Representative (per filing) | 代表取締役社長 金澤 茂則 |
| Founded | Jul 2001 |
| Share capital | ¥304.6M |
| Employees (consolidated) | 147 |
| Average salary (parent only) | ¥7M |
| Fiscal year end | June |
| Website | www.logizard.co.jp (https://www.logizard.co.jp/) |
| Corporate number | 1010401053173 |
| EDINET | E34045 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100Z2RN, filed 2026-09-25). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 63.1 | 145 |
| Cash conversion | 47.3 | 128 |
| Efficiency | 49.3 | 145 |

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)

- Logizard brought in ¥2.44B in revenue.
- Out of every ¥100 of sales, about ¥16 is left as operating profit.
- Revenue changed +11.9% from the prior year, operating profit -0.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥2436465000 → ¥302145000
- Net income → operating cash flow: ¥302145000 → ¥406160000（difference ¥104015000）
- Main uses of operating cash flow: CapEx ¥316052000 / dividends ¥58095000 / buybacks —
- Change in cash: ¥26045000
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 | ¥2.44B |  |
| Operating income | ¥404.7M | Margin 16.6% |
| Net income | ¥302.1M | Margin 12.4% |
| Free cash flow | ¥90.1M |  |
| Employees (consolidated) | 147 |  |
| EPS | ¥93.06 |  |
| Diluted EPS | ¥91.26 |  |
| Book value per share | ¥752.49 |  |
| Equity ratio | 83.7% |  |
| Shares outstanding | 3,301,000 |  |
| Treasury shares | 40,500 |  |
| Shareholders | 1,825 |  |
| Average salary (parent only) | ¥7M | Filing company only |
| Cash ratio | 59.2% | Cash ÷ revenue 71.1% |
| Vs. industry median margin | +4.2 pp | Software & SaaS |
| ROE | 13.1% | Derived from disclosed figures |
| ROA | 11.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 59% of total assets

## What changed in 4 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Jun 2022 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1771511000 | ¥2436465000 | — |
| Operating income | ¥367505000 | ¥404681000 | — |
| Operating margin | 20.7% | 16.6% | -4.1 pp |
| Employees | 103 people | 147 people | — |
| Cash and equivalents | ¥1244459000 | ¥1733276000 | — |

### Change in segment revenue mix

Span: FY ending Jun 2022 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Jun 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,436 | 100.0% | S100Z2RN |
| Cost of revenue | 1,064 | 43.7% | S100Z2RN |
| Gross profit | 1,373 | 56.3% | S100Z2RN |
| SG&A | 968 | 39.7% | S100Z2RN |
| Operating income | 405 | 16.6% | S100Z2RN |
| Ordinary income | 408 | 16.8% | S100Z2RN |
| Pretax income | 404 | 16.6% | S100Z2RN |
| Income tax | 102 | 4.2% | S100Z2RN |
| Net income | 302 | 12.4% | S100Z2RN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 44 |
| SG&A | 40 |
| Operating income | 16 |
| (Ref.) Net income | 12 |

### Margin funnel

Gross margin 56.3% → Operating margin 16.6% → Net margin 12.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +11.9%; Core profit growth: -0.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.07×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2025 → FY ending Jun 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,177 | 2,436 | 259 | +11.9% |
| Gross profit | 1,208 | 1,373 | 165 | +13.6% |
| Operating income | 408 | 405 | -3 | -0.8% |
| Operating cash flow | 437 | 406 | -31 | -7.1% |
| Free cash flow | 220 | 90 | -130 | -59.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 1,537 | 250 | 16.3% | 171 | 246 | 155 | S100MHTQ |
| FY ending Jun 2021 | 1,685 | 330 | 19.6% | 224 | 319 | 259 | S100P8EF |
| FY ending Jun 2022 | 1,772 | 368 | 20.7% | 237 | 254 | — | S100RWVX |
| FY ending Jun 2022 | 1,788 | 353 | 19.7% | 237 | 254 | 170 | S100P8EF |
| FY ending Jun 2023 | 1,854 | 261 | 14.1% | 185 | 314 | 251 | S100UF74 |
| FY ending Jun 2024 | 1,977 | 346 | 17.5% | 253 | 351 | 133 | S100WPWK |
| FY ending Jun 2025 | 2,177 | 408 | 18.7% | 283 | 437 | 220 | S100Z2RN |
| FY ending Jun 2026 | 2,436 | 405 | 16.6% | 302 | 406 | 90 | S100Z2RN |

## People and productivity（FY ending Jun 2026, non-consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16.6M |
| Operating income per employee (consolidated) | ¥2.8M |
| Net income per employee (consolidated) | ¥2.1M |

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 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 105 | 115 | 120 | 134 | 147 |
| Average salary (parent company) | ¥6.1M | ¥6.4M | ¥6.3M | ¥6.4M | ¥7M |
| Average age (parent company) | 38.5 years | 38.6 years | 39.5 years | 39.8 years | 40.1 years |
| Average tenure (parent company) | 6.4 years | 6.1 years | 6.8 years | 6.8 years | 6.8 years |

Year over year: Employees (consolidated) +9.7% · Revenue (consolidated) +11.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 406 | 16.7% | S100Z2RN |
| Capital expenditure | 316 | 13.0% | S100Z2RN |
| Free cash flow | 90 | 3.7% | 算出 |
| Investing cash flow | -316 | -13.0% | S100Z2RN |
| Financing cash flow | -64 | -2.6% | S100Z2RN |
| Dividends paid | 58 | 2.4% | S100Z2RN |
| Change in cash | 26 | 1.1% | S100Z2RN |
| Cash and equivalents | 1,733 | 71.1% | S100Z2RN |

## 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 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,261 | 1,454 | 1,538 | 1,707 | 1,733 | S100P8EF, S100WPWK, S100Z2RN |
| Total assets | 1,831 | 1,965 | 2,257 | 2,577 | 2,930 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Net assets | 1,538 | 1,694 | 1,925 | 2,177 | 2,453 | S100P8EF, S100WPWK, S100Z2RN |
| Share capital | 301 | 302 | 303 | 304 | 305 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Property, plant and equipment | 32 | 29 | 66 | 63 | 74 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Intangible assets excluding goodwill | 179 | 158 | 255 | 382 | 607 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Current assets | 1,575 | 1,720 | 1,860 | 2,048 | 2,148 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Current liabilities | 293 | 271 | 332 | 400 | 474 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Total liabilities | 293 | 271 | 332 | 400 | 476 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Equity attributable to owners of parent | 1,537 | 1,694 | 1,925 | 2,177 | 2,453 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Retained earnings | 1,102 | 1,242 | 1,453 | 1,680 | 1,914 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |
| Treasury stock | -160 | -144 | -127 | -104 | -63 | S100P8EF, S100UF74, S100WPWK, S100Z2RN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 59% | S100Z2RN |
| Property, plant and equipment | 2% | S100Z2RN |
| Intangibles and goodwill | 21% | S100Z2RN |
| Other assets | 18% | S100Z2RN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 16% | S100Z2RN |
| Equity | 84% | S100Z2RN |
| Other liabilities | 0% | S100Z2RN |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 1,831 | 1,965 | 2,257 | 2,577 | 2,930 |
| Equity | 1,538 | 1,694 | 1,925 | 2,177 | 2,453 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,261 | 1,454 | 1,538 | 1,707 | 1,733 |

## 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) | 3.1% | S100Z2RN |
| Fixed assets ÷ total assets | 2.5% | S100Z2RN |
| Goodwill ÷ parent equity | — | —, S100Z2RN |

### 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) | 59.2% |
| Cash ÷ revenue | 71.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 100.4% |
| Cash vs. profit gap | 104 JPY mn (of net income 34.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 19.2% |
| Shareholder payments — dividends / FCF | 64.5% |
| CapEx intensity (capex ÷ revenue) | 13.0% |
| Investing CF relative to operating CF | 77.9% |

## 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 | 13.3% | 0.98× | 13.0% | 1.19× | 15.4% | S100P8EF |
| 2023 | 10.0% | 0.94× | 9.4% | 1.16× | 10.9% | S100UF74 |
| 2024 | 12.8% | 0.94× | 12.0% | 1.17× | 14.0% | S100WPWK |
| 2025 | 13.0% | 0.90× | 11.7% | 1.18× | 13.8% | S100Z2RN |
| 2026 | 12.4% | 0.88× | 11.0% | 1.19× | 13.1% | S100Z2RN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| フューチャー株式会社 | Major shareholder | 27.4% | 2026-06-30 |
| 金澤 茂則 | Major shareholder | 11.2% | 2026-06-30 |
| 創歩人ホールディングス株式会社 | Major shareholder | 4.1% | 2026-06-30 |
| 加藤 智康 | Major shareholder | 3.6% | 2026-06-30 |
| ＣＡＬＬＯＮ ＳＡＭ ＡＮＤＥＲＢＥＲＧ | Major shareholder | 3.5% | 2026-06-30 |
| ＩＮＴＥＲＡＣＴＩＶＥ ＢＲＯＫＥＲＳ ＬＬＣ（常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 2.9% | 2026-06-30 |
| 吉田 伸行 | Major shareholder | 2.1% | 2026-06-30 |
| ＮＯＲＴＨＥＲＮ ＴＲＵＳＴ ＣＯ．（ＡＶＦＣ） ＲＥ ＮＯＮ ＴＲＥＡＴＹ ＣＬＩＥＮＴＳ ＡＣＣＯＵＮＴ（常任代理人 香港上海銀行東京支店） | Major shareholder | 1.9% | 2026-06-30 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 1.8% | 2026-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.7% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第26期(2025/07/01－2026/06/30) | S100Z2RN | 2026-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z2RN,, |
| 有価証券報告書－第25期(2024/07/01－2025/06/30) | S100WPWK | 2025-09-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WPWK,, |
| 有価証券報告書－第24期(2023/07/01－2024/06/30) | S100UF74 | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UF74,, |
| 有価証券報告書－第23期(2022/07/01－2023/06/30) | S100RWVX | 2023-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWVX,, |
| 有価証券報告書－第22期(令和3年7月1日－令和4年6月30日) | S100P8EF | 2022-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P8EF,, |
| 有価証券報告書－第21期(令和2年7月1日－令和3年6月30日) | S100MHTQ | 2021-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MHTQ,, |

## 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).