# Media Kobo,Inc.: business model and financials

> Latest period: FY ending Aug 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第28期(2024/09/01－2025/08/31) (S100X62P)
> Page: https://vizora.meequs.com/en/company/media-kobo
> Retrieved: 2026-09-30T20:31:03.906Z

## Company

Media Kobo, founded in 1997, is a company in Internet Services & Apps listed on TSE Growth. It has 59 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Media Kobo,Inc. |
| Ticker | 3815 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3815.T) |
| Listing | TSE Growth |
| Head office | 東京都港区六本木七丁目15番9号 |
| Representative (per filing) | 代表取締役社長 長沢 一男 |
| Founded | Oct 1997 |
| Share capital | ¥451.5M |
| Employees (consolidated) | 59 |
| Average salary (parent only) | ¥5.3M |
| Fiscal year end | August |
| Website | www.mkb.ne.jp (https://www.mkb.ne.jp/) |
| Corporate number | 6010401040811 |
| EDINET | E05622 |
| Industries (Vizora) | Internet Services & Apps |

> Profile source: annual securities report (S100X62P, filed 2025-11-21). As of filing

## Five-axis industry profile

Primary industry: Internet Services & Apps (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 26.3 | 40 |
| Profitability | 2.9 | 51 |
| Efficiency | 26 | 52 |

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 94% of Media Kobo's sales come from Fortune telling business, with Enteretainment and Matching service business and Other making up much of the rest.
- It lost about ¥17 for every ¥100 of sales at the operating level.
- Revenue changed -6.9% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥1.87B |  |
| Operating income | -¥323.4M | Margin -17.3% |
| Net income | -¥508.2M | Margin -27.1% |
| Free cash flow | -¥450.7M |  |
| Largest business | Fortune telling business | of segment revenue 94.0% |
| Employees (consolidated) | 59 |  |
| EPS | ¥-51.34 |  |
| Book value per share | ¥60.76 |  |
| Equity ratio | 30.9% |  |
| Shares outstanding | 11,300,000 |  |
| Treasury shares | 871,100 |  |
| Shareholders | 22,923 |  |
| Average salary (parent only) | ¥5.3M | Filing company only |
| Cash ratio | 70.1% | Cash ÷ revenue 85.2% |
| Vs. industry median margin | -24.9 pp | Internet Services & Apps |
| ROA | -20.6% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 100% of positive segment profit
- FY2025, cash is 70% of total assets
- FY2025, parent-company salary changed +31% over five years

## What changed in 5 years

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1798549000 | ¥1873495000 | +4.2% |
| Operating income | ¥-9580000 | ¥-323447000 | — |
| Operating margin | -0.5% | -17.3% | -16.7 pp |
| Employees | 92 people | 59 people | -35.9% |
| Cash and equivalents | ¥2500968000 | ¥1595941000 | -36.2% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 占いコンテンツ事業 → 事業再編・廃止 | 44.5% |
| デジタルコンテンツ事業 → 事業再編・廃止 | 30.9% |
| ゲームコンテンツ事業 → 事業再編・廃止 | 1.6% |
| One to One事業 → 事業再編・廃止 | 17.3% |
| その他 → その他 | 0.2% |
| その他 → 事業再編・廃止 | 1.7% |
| メディア事業 → 事業再編・廃止 | 3.8% |
| XR事業 → 事業再編・廃止 | 0.0% |
| Xr／Sns事業 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 占い事業 | 94.0% |
| 新設・再編 → エンタメ・マッチングサービス事業 | 5.8% |

Segment revenue source references: 11 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Fortune telling business | 2 years | -5.2% | ¥1761219000 | 21.9% | 2 |
| Enteretainment and Matching service business | 2 years | -2.0% | ¥109014000 | -6.8% | 2 |
| Other | 5 years | -45.3% | ¥3261000 | -4821.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,873 | 100.0% | S100X62P |
| Cost of revenue | 964 | 51.5% | S100X62P |
| Gross profit | 909 | 48.5% | S100X62P |
| SG&A | 1,232 | 65.8% | S100X62P |
| Operating income | -323 | -17.3% | S100X62P |
| Ordinary income | -317 | -16.9% | S100X62P |
| Pretax income | -432 | -23.1% | S100X62P |
| Income tax | 76 | 4.1% | S100X62P |
| Net income | -508 | -27.1% | S100X62P |
| Net income attributable to owners | -508 | -27.1% | S100X62P |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 66 |
| Operating income | -17 |
| (Ref.) Net income | -27 |

### Margin funnel

Gross margin 48.5% → Operating margin -17.3% → Net margin -27.1%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,013 | 1,873 | -139 | -6.9% |
| Gross profit | 1,000 | 909 | -91 | -9.1% |
| Operating income | -141 | -323 | -182 | — |
| Net income attributable to owners | -271 | -508 | -237 | — |
| Operating cash flow | 44 | -220 | -265 | -599.0% |
| Free cash flow | -92 | -451 | -358 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2019 | 1,944 | 36 | 1.9% | 23 | 108 | 34 | S100K8M9 |
| FY ending Aug 2020 | 1,799 | -10 | -0.5% | -149 | 56 | -110 | S100MXCF |
| FY ending Aug 2021 | 1,929 | 48 | 2.5% | 7 | 149 | 80 | S100PP7L |
| FY ending Aug 2022 | 2,204 | 194 | 8.8% | 154 | 290 | 228 | S100SCST |
| FY ending Aug 2023 | 2,074 | 59 | 2.8% | 35 | 76 | -41 | S100UTYB |
| FY ending Aug 2024 | 2,013 | -141 | -7.0% | -271 | 44 | -92 | S100X62P |
| FY ending Aug 2025 | 1,873 | -323 | -17.3% | -508 | -220 | -451 | S100X62P |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥31.8M |
| Operating income per employee (consolidated) | -¥5.5M |
| Net income per employee (consolidated) | -¥8.6M |

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

| History | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 88 | 70 | 73 | 61 | 59 |
| Average salary (parent company) | ¥4M | ¥4.2M | ¥4.4M | ¥4.9M | ¥5.3M |
| Average age (parent company) | 33.9 years | 34.0 years | 35.8 years | 36.3 years | 38.1 years |
| Average tenure (parent company) | 5.3 years | 6.0 years | 5.9 years | 5.9 years | 5.8 years |

Year over year: Employees (consolidated) -3.3% · Revenue (consolidated) -6.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Fortune telling business | 1,761 | 94.0% | 386 | 21.9% |
| Enteretainment and Matching service business | 109 | 5.8% | -7 | -6.8% |
| Other | 3 | 0.2% | -157 | -4821.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Fortune telling business | 94.0% | 100.0% | 6.0 | 21.9% |
| Enteretainment and Matching service business | 5.8% | — | — | -6.8% |
| Other | 0.2% | — | — | -4821.0% |

Loss-making segment (excluded from profit shares): Enteretainment and Matching service business -7 JPY mn

Loss-making segment (excluded from profit shares): Other -157 JPY mn

Segment → industry: Enteretainment and Matching service business → Internet Services & Apps / Fortune telling business → Internet Services & Apps

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -220 | -11.8% | S100X62P |
| Capital expenditure | 230 | 12.3% | S100X62P |
| Free cash flow | -451 | -24.1% | 算出 |
| Investing cash flow | -220 | -11.8% | S100X62P |
| Financing cash flow | 76 | 4.1% | S100X62P |
| Change in cash | -364 | -19.5% | S100X62P |
| Cash and equivalents | 1,596 | 85.2% | S100X62P |

## 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 Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,408 | 2,384 | 2,027 | 1,960 | 1,596 | S100SCST, S100UTYB, S100X62P |
| Total assets | 3,120 | 3,006 | 2,712 | 2,651 | 2,278 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Net assets | 1,201 | 1,355 | 1,345 | 1,045 | 708 | S100SCST, S100UTYB, S100X62P |
| Share capital | 451 | 451 | 451 | 451 | 451 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Property, plant and equipment | 18 | 43 | 29 | 7 | 36 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Intangible assets excluding goodwill | 101 | 34 | 133 | 148 | 201 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Investment securities | 0 | 20 | 0 | 0 | 0 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Current assets | 2,820 | 2,716 | 2,363 | 2,231 | 1,860 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Current liabilities | 1,197 | 1,040 | 869 | 988 | 978 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Short-term borrowings | — | — | — | — | 97 | S100X62P |
| Long-term borrowings | 722 | 611 | 498 | 618 | 292 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Total liabilities | 1,919 | 1,651 | 1,367 | 1,606 | 1,570 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Equity attributable to owners of parent | 1,203 | 1,356 | 1,346 | 1,045 | 704 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Retained earnings | 843 | 997 | 986 | 685 | 177 | S100PP7L, S100SCST, S100UTYB, S100X62P |
| Treasury stock | -514 | -514 | -514 | -514 | -367 | S100PP7L, S100SCST, S100UTYB, S100X62P |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 70% | S100X62P |
| Property, plant and equipment | 2% | S100X62P |
| Intangibles and goodwill | 9% | S100X62P |
| Other assets | 19% | S100X62P |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 69% | S100X62P |
| Equity | 31% | S100X62P |

### Balance sheet history

| Metric | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,120 | 3,006 | 2,712 | 2,651 | 2,278 |
| Equity | 1,201 | 1,355 | 1,345 | 1,045 | 708 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,408 | 2,384 | 2,027 | 1,960 | 1,596 |

## 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) | 1.9% | S100X62P |
| Fixed assets ÷ total assets | 1.6% | S100X62P |
| Goodwill ÷ parent equity | — | —, S100X62P |

### 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) | 70.1% |
| Cash ÷ revenue | 85.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 288 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 12.3% |
| Investing CF relative to operating CF | — |

## 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 | 0.4% | 0.62× | 0.2% | 2.59× | 0.6% | S100PP7L |
| 2022 | 7.0% | 0.72× | 5.0% | 2.39× | 12.0% | S100SCST |
| 2023 | 1.7% | 0.73× | 1.2% | 2.12× | 2.6% | S100UTYB |
| 2024 | — | —× | -10.1% | —× | — | S100X62P |
| 2025 | — | —× | -20.6% | —× | — | S100X62P |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社エヌカルテット | Major shareholder | 46.6% | 2025-08-31 |
| 長沢 一男 | Major shareholder | 17.7% | 2025-08-31 |
| 長沢 敦子 | Major shareholder | 1.8% | 2025-08-31 |
| マイルストーンキャピタルマネジメント株式会社 | Major shareholder | 1.2% | 2025-08-31 |
| 長沢 匡哲 | Major shareholder | 0.9% | 2025-08-31 |
| 株式会社千里眼 | Major shareholder | 0.8% | 2025-08-31 |
| 長谷川 かほり | Major shareholder | 0.2% | 2025-08-31 |
| 長沢 和宙 | Major shareholder | 0.2% | 2025-08-31 |
| 酒井 康弘 | Major shareholder | 0.2% | 2025-08-31 |
| 馬原 賢吉 | Major shareholder | 0.1% | 2025-08-31 |
| 染谷 幸則 | Major shareholder | 0.1% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第28期(2024/09/01－2025/08/31) | S100X62P | 2025-11-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X62P,, |
| 有価証券報告書－第27期(2023/09/01－2024/08/31) | S100UTYB | 2024-11-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UTYB,, |
| 有価証券報告書－第26期(2022/09/01－2023/08/31) | S100SCST | 2023-11-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SCST,, |
| 有価証券報告書－第25期(令和3年9月1日－令和4年8月31日) | S100PP7L | 2022-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PP7L,, |
| 有価証券報告書－第24期(令和2年9月1日－令和3年8月31日) | S100MXCF | 2021-11-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MXCF,, |
| 有価証券報告書－第23期(令和1年9月1日－令和2年8月31日) | S100K8M9 | 2020-11-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100K8M9,, |

## 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).