# Mobilus Corporation: 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14期(2024/09/01－2025/08/31) (S100X6MF)
> Page: https://vizora.meequs.com/en/company/mobilus
> Retrieved: 2026-09-30T21:02:08.152Z

## Company

Mobilus, founded in 2011, is a company in Software & SaaS listed on TSE Growth. It has 109 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Mobilus Corporation |
| Ticker | 4370 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4370.T) |
| Listing | TSE Growth |
| Head office | 東京都品川区東五反田2丁目22番9号住友不動産大崎ツインビル西館9階(2025年10月1日から本店所在地 東京都港区芝浦一丁目1番1号 浜松町ビルディング15階 が上記のように移転しております。) |
| Representative (per filing) | 代表取締役社長 石井 智宏 |
| Founded | Sep 2011 |
| Share capital | ¥449.2M |
| Employees (consolidated) | 109 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | August |
| Website | mobilus.co.jp (https://mobilus.co.jp/) |
| Corporate number | 6010401095847 |
| EDINET | E36795 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100X6MF, filed 2025-11-26). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 21 | 145 |
| Cash conversion | 92.6 | 128 |
| Efficiency | 41.7 | 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)

- Mobilus brought in ¥1.85B in revenue.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +20.9% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥1854738000 → ¥75540000
- Net income → operating cash flow: ¥75540000 → ¥270208000（difference ¥194668000）
- Main uses of operating cash flow: CapEx ¥506014000 / dividends — / buybacks —
- Change in cash: ¥-313836000
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 | ¥1.85B |  |
| Operating income | ¥90.6M | Margin 4.9% |
| Net income | ¥91M | Margin 4.9% |
| Free cash flow | -¥235.8M |  |
| Employees (consolidated) | 109 |  |
| EPS | ¥17.89 |  |
| Diluted EPS | ¥17.78 |  |
| Book value per share | ¥230.02 |  |
| Equity ratio | 61.6% |  |
| Shares outstanding | 6,096,274 |  |
| Treasury shares | 59,700 |  |
| Shareholders | 2,777 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 46.6% | Cash ÷ revenue 56.0% |
| Vs. industry median margin | -7.6 pp | Software & SaaS |
| ROE | 6.6% | Derived from disclosed figures |
| ROA | 4.1% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 3.0× net income
- FY2025, cash is 47% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥952657000 | ¥1854738000 | — |
| Operating income | ¥41869000 | ¥90640000 | — |
| Operating margin | 4.4% | 4.9% | +0.5 pp |
| Employees | 68 people | 109 people | — |
| Cash and equivalents | ¥1078296000 | ¥1039144000 | — |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,855 | 100.0% | S100X6MF |
| Cost of revenue | 601 | 32.4% | S100X6MF |
| Gross profit | 1,253 | 67.6% | S100X6MF |
| SG&A | 1,163 | 62.7% | S100X6MF |
| Operating income | 91 | 4.9% | S100X6MF |
| Ordinary income | 81 | 4.4% | S100X6MF |
| Pretax income | 82 | 4.4% | S100X6MF |
| Income tax | 7 | 0.4% | S100X6MF |
| Net income | 76 | 4.1% | S100X6MF |
| Net income attributable to owners | 91 | 4.9% | S100X6MF |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 32 |
| SG&A | 63 |
| Operating income | 5 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 67.6% → Operating margin 4.9% → Net margin 4.9%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,534 | 1,855 | 321 | +20.9% |
| Gross profit | 790 | 1,253 | 464 | +58.7% |
| Operating income | -352 | 91 | 443 | — |
| Operating cash flow | 32 | 270 | 238 | +739.7% |
| Free cash flow | -285 | -236 | 49 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2020 | 953 | 42 | 4.4% | 75 | 197 | -11 | S100MZJS |
| FY ending Aug 2021 | 1,235 | 134 | 10.9% | 134 | 250 | 21 | S100PPR8 |
| FY ending Aug 2022 | 1,570 | 182 | 11.6% | 126 | 240 | -17 | S100SDKR |
| FY ending Aug 2023 | 1,595 | -157 | -9.8% | -182 | 29 | -242 | S100V91P |
| FY ending Aug 2024 | 1,534 | -352 | -22.9% | -732 | 32 | -285 | S100V91P |
| FY ending Aug 2025 | 1,855 | 91 | 4.9% | 91 | 270 | -236 | S100X6MF |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17M |
| Operating income per employee (consolidated) | ¥831.6K |
| Net income per employee (consolidated) | ¥834.6K |

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) | 72 | 84 | 89 | 102 | 109 |
| Average salary (parent company) | ¥5.8M | ¥5.5M | ¥6.9M | ¥7.2M | ¥7.7M |
| Average age (parent company) | 37.8 years | 39.1 years | 39.7 years | 39.4 years | 39.3 years |
| Average tenure (parent company) | 2.6 years | 2.7 years | 2.5 years | 2.6 years | 2.9 years |

## 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 | 270 | 14.6% | S100X6MF |
| Capital expenditure | 506 | 27.3% | S100X6MF |
| Free cash flow | -236 | -12.7% | 算出 |
| Investing cash flow | -616 | -33.2% | S100X6MF |
| Financing cash flow | 32 | 1.7% | S100X6MF |
| Change in cash | -314 | -16.9% | S100X6MF |
| Cash and equivalents | 1,039 | 56.0% | S100X6MF |

## 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 | 1,083 | 1,632 | 1,265 | 1,353 | 1,039 | S100SDKR, S100V91P, S100X6MF |
| Total assets | 1,778 | 2,649 | 2,203 | 1,963 | 2,229 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Net assets | 1,385 | 2,190 | 1,940 | 1,242 | 1,453 | S100SDKR, S100V91P, S100X6MF |
| Share capital | 90 | 429 | 439 | 439 | 449 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Property, plant and equipment | 17 | 18 | 25 | 8 | 62 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Intangible assets excluding goodwill | 454 | 545 | 590 | 308 | 609 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Investment securities | 1 | 1 | — | — | — | S100PPR8, S100SDKR |
| Current assets | 1,285 | 2,031 | 1,541 | 1,602 | 1,404 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Current liabilities | 282 | 460 | 248 | 409 | 476 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Short-term borrowings | 40 | — | — | — | — | S100PPR8 |
| Long-term borrowings | 100 | — | — | 306 | 300 | S100PPR8, S100V91P, S100X6MF |
| Total liabilities | 393 | 460 | 263 | 721 | 776 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Non-controlling interests | — | — | — | — | 80 | S100X6MF |
| Equity attributable to owners of parent | 1,385 | 2,189 | 1,939 | 1,241 | 1,373 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Retained earnings | 239 | 365 | 183 | -549 | -458 | S100PPR8, S100SDKR, S100V91P, S100X6MF |
| Treasury stock | — | -0 | -91 | -52 | -23 | S100SDKR, S100V91P, S100X6MF |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 47% | S100X6MF |
| Property, plant and equipment | 3% | S100X6MF |
| Intangibles and goodwill | 27% | S100X6MF |
| Other assets | 23% | S100X6MF |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 35% | S100X6MF |
| Equity | 65% | S100X6MF |

### 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 | 1,778 | 2,649 | 2,203 | 1,963 | 2,229 |
| Equity | 1,385 | 2,190 | 1,940 | 1,242 | 1,453 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,083 | 1,632 | 1,265 | 1,353 | 1,039 |

## 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) | 3.4% | S100X6MF |
| Fixed assets ÷ total assets | 2.8% | S100X6MF |
| Goodwill ÷ parent equity | — | —, S100X6MF |

### 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) | 46.6% |
| Cash ÷ revenue | 56.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 298.1% |
| Cash vs. profit gap | 179 JPY mn (of net income 197.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 27.3% |
| Investing CF relative to operating CF | 227.9% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 10.8% | 0.69× | 7.5% | 1.28× | 9.6% | S100PPR8 |
| 2022 | 8.1% | 0.71× | 5.7% | 1.24× | 7.1% | S100SDKR |
| 2023 | — | —× | -7.5% | —× | — | S100V91P |
| 2024 | — | —× | -35.1% | —× | — | S100V91P |
| 2025 | 4.9% | 0.83× | 4.1% | 1.62× | 6.6% | S100X6MF |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| テクマトリックス株式会社 | Major shareholder | 28.4% | 2025-08-31 |
| 阮 明徳 | Major shareholder | 6.7% | 2025-08-31 |
| トランス・コスモス株式会社 | Major shareholder | 6.1% | 2025-08-31 |
| グローバル・イノベーション・ファンドⅢ | Major shareholder | 6.1% | 2025-08-31 |
| 長澤 信治 | Major shareholder | 5.8% | 2025-08-31 |
| 徳山 教助 | Major shareholder | 3.2% | 2025-08-31 |
| 石井 智宏 | Major shareholder | 3.1% | 2025-08-31 |
| 楽天証券株式会社 | Major shareholder | 2.2% | 2025-08-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.7% | 2025-08-31 |
| 井上 有二 | Major shareholder | 1.5% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第14期(2024/09/01－2025/08/31) | S100X6MF | 2025-11-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X6MF,, |
| 訂正有価証券報告書－第13期(2023/09/01－2024/08/31) | S100V91P | 2025-02-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100V91P,, |
| 有価証券報告書－第12期(2022/09/01－2023/08/31) | S100SDKR | 2023-11-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SDKR,, |
| 有価証券報告書－第11期(令和3年9月1日－令和4年8月31日) | S100PPR8 | 2022-11-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PPR8,, |
| 訂正有価証券報告書－第10期(令和2年9月1日－令和3年8月31日) | S100MZJS | 2021-12-02 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MZJS,, |

## 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).