# Netyear Group Corporation: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第27期(2025/04/01－2026/03/31) (S100YF6I)
> Page: https://vizora.meequs.com/en/company/netyear-group
> Retrieved: 2026-09-30T18:59:05.596Z

## Company

Netyear Group, founded in 1999, is a company in IT Services & System Integration listed on TSE Standard. It has 171 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Netyear Group Corporation |
| Ticker | 3622 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3622.T) |
| Listing | TSE Standard |
| Head office | 東京都中央区銀座二丁目15番2号 |
| Representative (per filing) | 代表取締役社長CEO 廣中 龍蔵 |
| Founded | Jul 1999 |
| Share capital | ¥571M |
| Employees (consolidated) | 171 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.netyear.net (https://www.netyear.net/) |
| Corporate number | 5010401094866 |
| EDINET | E05736 |
| Industries (Vizora) | IT Services & System Integration |

> Profile source: annual securities report (S100YF6I, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 50.8 | 196 |
| Cash conversion | 11.1 | 185 |
| Efficiency | 38.5 | 196 |

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)

- Netyear Group brought in ¥3.67B in revenue.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +8.7% from the prior year, operating profit +301.6%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥3.67B |  |
| Operating income | ¥331.8M | Margin 9.0% |
| Net income | ¥173.9M | Margin 4.7% |
| Free cash flow | — |  |
| Employees (consolidated) | 171 |  |
| EPS | ¥24.84 |  |
| Book value per share | ¥396.29 |  |
| Equity ratio | 80.9% |  |
| Shares outstanding | 6,999,000 |  |
| Treasury shares | 100 |  |
| Shareholders | 2,491 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 65.6% | Cash ÷ revenue 61.2% |
| Vs. industry median margin | +0.1 pp | IT Services & System Integration |
| ROE | 6.4% | Derived from disclosed figures |
| ROA | 5.3% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -8% while operating income rose 302%
- FY2026, cash is 66% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3409902000 | ¥3672504000 | +7.7% |
| Operating income | ¥140369000 | ¥331816000 | +136.4% |
| Operating margin | 4.1% | 9.0% | +4.9 pp |
| Employees | 186 people | 171 people | -8.1% |
| Cash and equivalents | ¥1073714000 | ¥2247860000 | +109.4% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,673 | 100.0% | S100YF6I |
| Cost of revenue | 2,784 | 75.8% | S100YF6I |
| Gross profit | 888 | 24.2% | S100YF6I |
| SG&A | 556 | 15.1% | S100YF6I |
| Operating income | 332 | 9.0% | S100YF6I |
| Ordinary income | 337 | 9.2% | S100YF6I |
| Pretax income | 252 | 6.9% | S100YF6I |
| Income tax | 78 | 2.1% | S100YF6I |
| Net income | 174 | 4.7% | S100YF6I |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 15 |
| Operating income | 9 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 24.2% → Operating margin 9.0% → Net margin 4.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.7%; Core profit growth: +301.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 34.58×
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 | 3,378 | 3,673 | 295 | +8.7% |
| Gross profit | 684 | 888 | 204 | +29.8% |
| Operating income | 83 | 332 | 249 | +301.6% |
| Operating cash flow | 74 | 107 | 33 | +44.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 5,466 | -78 | -1.4% | -68 | -153 | -154 | S100LM4O |
| FY ending Mar 2021 | 5,611 | 172 | 3.1% | 200 | 246 | 225 | S100LM4O |
| FY ending Mar 2021 | 3,410 | 140 | 4.1% | 200 | 246 | — | S100OCJ2 |
| FY ending Mar 2022 | 3,416 | 205 | 6.0% | 581 | 205 | — | S100R1YH |
| FY ending Mar 2023 | 3,919 | 281 | 7.2% | 200 | 153 | 150 | S100TPY8 |
| FY ending Mar 2024 | 3,631 | 145 | 4.0% | 106 | 81 | 70 | S100W3QZ |
| FY ending Mar 2025 | 3,378 | 83 | 2.4% | -34 | 74 | 70 | S100YF6I |
| FY ending Mar 2026 | 3,673 | 332 | 9.0% | 174 | 107 | — | S100YF6I |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥21.5M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1M |

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) | 176 | 178 | 189 | 185 | 171 |
| Average salary (parent company) | ¥6.1M | ¥6.2M | ¥6.2M | ¥6.2M | ¥6M |
| Average age (parent company) | 38.9 years | 39.4 years | 38.9 years | 39.4 years | 39.9 years |
| Average tenure (parent company) | 6.0 years | 6.8 years | 6.7 years | 7.3 years | 7.9 years |

Year over year: Employees (consolidated) -7.6% · Revenue (consolidated) +8.7%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 107 | 2.9% | S100YF6I |
| Investing cash flow | -6 | -0.2% | S100YF6I |
| Financing cash flow | -42 | -1.1% | S100YF6I |
| Dividends paid | 42 | 1.1% | S100YF6I |
| Change in cash | 60 | 1.6% | S100YF6I |
| Cash and equivalents | 2,248 | 61.2% | S100YF6I |

## 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 | 1,962 | 2,220 | 2,161 | 2,188 | 2,248 | S100TPY8, S100W3QZ, S100YF6I |
| Total assets | 3,122 | 3,177 | 3,189 | 3,136 | 3,429 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Net assets | 2,474 | 2,652 | 2,717 | 2,642 | 2,774 | S100TPY8, S100W3QZ, S100YF6I |
| Share capital | 571 | 571 | 571 | 571 | 571 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Property, plant and equipment | 3 | 4 | 8 | 9 | 7 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Intangible assets excluding goodwill | 14 | 12 | 12 | 8 | 5 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Investment securities | — | — | 90 | — | — | S100W3QZ |
| Current assets | 3,006 | 3,075 | 3,003 | 3,050 | 3,329 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Current liabilities | 643 | 520 | 464 | 489 | 650 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Total liabilities | 648 | 525 | 471 | 494 | 655 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Equity attributable to owners of parent | 2,474 | 2,652 | 2,717 | 2,642 | 2,774 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Retained earnings | 1,251 | 1,429 | 1,495 | 1,419 | 1,551 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100R1YH, S100TPY8, S100W3QZ, S100YF6I |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 66% | S100YF6I |
| Property, plant and equipment | 0% | S100YF6I |
| Intangibles and goodwill | 0% | S100YF6I |
| Other assets | 34% | S100YF6I |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 19% | S100YF6I |
| Equity | 81% | S100YF6I |

### 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 | 3,122 | 3,177 | 3,189 | 3,136 | 3,429 |
| Equity | 2,474 | 2,652 | 2,717 | 2,642 | 2,774 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,962 | 2,220 | 2,161 | 2,188 | 2,248 |

## 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) | 0.2% | S100YF6I |
| Fixed assets ÷ total assets | 0.2% | S100YF6I |
| Goodwill ÷ parent equity | — | —, S100YF6I |

### 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) | 65.6% |
| Cash ÷ revenue | 61.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 32.4% |
| Cash vs. profit gap | -66 JPY mn (of net income -38.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 24.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 5.5% |

## 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 | 17.0% | 1.09× | 18.6% | 1.26× | 23.5% | S100R1YH |
| 2023 | 5.1% | 1.24× | 6.4% | 1.23× | 7.8% | S100TPY8 |
| 2024 | 2.9% | 1.14× | 3.3% | 1.19× | 4.0% | S100W3QZ |
| 2025 | — | —× | -1.1% | —× | — | S100YF6I |
| 2026 | 4.7% | 1.12× | 5.3% | 1.21× | 6.4% | S100YF6I |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社NTTデータ | Major shareholder | 48.5% | 2026-03-31 |
| 石黒 不二代 | Major shareholder | 7.6% | 2026-03-31 |
| 鈴木 智博 | Major shareholder | 2.4% | 2026-03-31 |
| 佐々木 裕彦 | Major shareholder | 2.1% | 2026-03-31 |
| 内田 善久 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社SBI証券 | Major shareholder | 1.7% | 2026-03-31 |
| 伊藤 僚祐 | Major shareholder | 1.7% | 2026-03-31 |
| 船山 益宏 | Major shareholder | 1.3% | 2026-03-31 |
| 三輪 勝彦 | Major shareholder | 0.8% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 0.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第27期(2025/04/01－2026/03/31) | S100YF6I | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF6I,, |
| 有価証券報告書－第26期(2024/04/01－2025/03/31) | S100W3QZ | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3QZ,, |
| 有価証券報告書－第25期(2023/04/01－2024/03/31) | S100TPY8 | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPY8,, |
| 有価証券報告書－第24期(2022/04/01－2023/03/31) | S100R1YH | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1YH,, |
| 有価証券報告書－第23期(令和3年4月1日－令和4年3月31日) | S100OCJ2 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OCJ2,, |
| 有価証券報告書－第22期(令和2年4月1日－令和3年3月31日) | S100LM4O | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LM4O,, |

## 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).