# OBIC BUSINESS CONSULTANTS CO.,LTD.: 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47期(2025/04/01－2026/03/31) (S100YD49)
> Page: https://vizora.meequs.com/en/company/obic-business-consultants
> Retrieved: 2026-09-30T21:16:06.650Z

## Company

Obic Business Consultants, founded in 1980, is a company in Software & SaaS listed on TSE Prime. It has 1,065 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OBIC BUSINESS CONSULTANTS CO.,LTD. |
| Ticker | 4733 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4733.T) |
| Listing | TSE Prime |
| Head office | 東京都新宿区西新宿六丁目8番1号 |
| Representative (per filing) | 代表取締役 社長執行役員 和田 成史 |
| Founded | Dec 1980 |
| Share capital | ¥10.5B |
| Employees (consolidated) | 1,065 |
| Average salary (parent only) | ¥8.3M |
| Fiscal year end | March |
| Website | www.obc.co.jp (https://www.obc.co.jp/) |
| Corporate number | 6011101003926 |
| EDINET | E05048 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100YD49, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 60.5 | 105 |
| Profitability | 97.6 | 145 |
| Cash conversion | 16.8 | 128 |
| Efficiency | 1 | 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)

- Obic Business Consultants brought in ¥51.4B in revenue.
- Out of every ¥100 of sales, about ¥46 is left as operating profit.
- Revenue changed +9.4% from the prior year, operating profit +8.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥51400590000 → ¥18132302000
- Net income → operating cash flow: ¥18132302000 → ¥17372045000（difference ¥-760257000）
- Main uses of operating cash flow: CapEx ¥1555837000 / dividends ¥7743291000 / buybacks ¥450000
- Change in cash: ¥-44795391000
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 | ¥51.4B |  |
| Operating income | ¥23.6B | Margin 45.9% |
| Net income | ¥18.1B | Margin 35.3% |
| Free cash flow | ¥15.8B |  |
| Employees (consolidated) | 1,065 |  |
| EPS | ¥241.2 |  |
| Book value per share | ¥2253.05 |  |
| Equity ratio | 76.7% |  |
| Shares outstanding | 75,404,000 |  |
| Treasury shares | 227,200 |  |
| Shareholders | 12,317 |  |
| Average salary (parent only) | ¥8.3M | Filing company only |
| Cash ratio | 52.7% | Cash ÷ revenue 226.2% |
| Vs. industry median margin | +33.4 pp | Software & SaaS |
| ROE | 12.1% | Derived from disclosed figures |
| ROA | 8.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating income keeps 46 per ¥100 of revenue
- FY2026, cash is 53% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥29252330000 | ¥51400590000 | +75.7% |
| Operating income | ¥12942282000 | ¥23580942000 | +82.2% |
| Operating margin | 44.2% | 45.9% | +1.6 pp |
| Employees | 898 people | 1,065 people | +18.6% |
| Cash and equivalents | ¥114095127000 | ¥116252591000 | +1.9% |

### 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 | 51,401 | 100.0% | S100YD49 |
| Cost of revenue | 7,896 | 15.4% | S100YD49 |
| Gross profit | 43,505 | 84.6% | S100YD49 |
| SG&A | 19,924 | 38.8% | S100YD49 |
| Operating income | 23,581 | 45.9% | S100YD49 |
| Ordinary income | 25,219 | 49.1% | S100YD49 |
| Pretax income | 25,207 | 49.0% | S100YD49 |
| Income tax | 7,075 | 13.8% | S100YD49 |
| Net income | 18,132 | 35.3% | S100YD49 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 15 |
| SG&A | 39 |
| Operating income | 46 |
| (Ref.) Net income | 35 |

### Margin funnel

Gross margin 84.6% → Operating margin 45.9% → Net margin 35.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +9.4%; Core profit growth: +8.4%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 0.90×
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 | 46,984 | 51,401 | 4,416 | +9.4% |
| Gross profit | 39,338 | 43,505 | 4,167 | +10.6% |
| Operating income | 21,744 | 23,581 | 1,837 | +8.4% |
| Operating cash flow | 17,670 | 17,372 | -298 | -1.7% |
| Free cash flow | 16,486 | 15,816 | -670 | -4.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 30,069 | 12,979 | 43.2% | 9,958 | 12,489 | 11,994 | S100LL7Y |
| FY ending Mar 2021 | 29,252 | 12,942 | 44.2% | 9,671 | 11,918 | 11,138 | S100OI3F |
| FY ending Mar 2022 | 34,758 | 16,358 | 47.1% | 11,811 | 16,053 | 15,362 | S100R56R |
| FY ending Mar 2023 | 33,705 | 14,709 | 43.6% | 11,033 | 15,450 | 15,135 | S100TQZG |
| FY ending Mar 2024 | 41,954 | 18,748 | 44.7% | 13,841 | 23,260 | 22,396 | S100VZRD |
| FY ending Mar 2025 | 46,984 | 21,744 | 46.3% | 16,183 | 17,670 | 16,486 | S100YD49 |
| FY ending Mar 2026 | 51,401 | 23,581 | 45.9% | 18,132 | 17,372 | 15,816 | S100YD49 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥48.3M |
| Operating income per employee (consolidated) | ¥22.1M |
| Net income per employee (consolidated) | ¥17M |

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) | 908 | 918 | 941 | 995 | 1,065 |
| Average salary (parent company) | ¥7M | ¥6.9M | ¥7.7M | ¥8.1M | ¥8.3M |
| Average age (parent company) | 34.5 years | 34.9 years | 35.1 years | 35.1 years | 34.7 years |
| Average tenure (parent company) | 11.0 years | 11.1 years | 11.8 years | 11.8 years | 11.6 years |

Year over year: Employees (consolidated) +7.0% · Revenue (consolidated) +9.4%

## 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 | 17,372 | 33.8% | S100YD49 |
| Capital expenditure | 1,556 | 3.0% | S100YD49 |
| Free cash flow | 15,816 | 30.8% | 算出 |
| Investing cash flow | -54,424 | -105.9% | S100YD49 |
| Financing cash flow | -7,744 | -15.1% | S100YD49 |
| Dividends paid | 7,743 | 15.1% | S100YD49 |
| Share buyback | 0 | 0.0% | S100YD49 |
| Change in cash | -44,795 | -87.1% | S100YD49 |
| Cash and equivalents | 116,253 | 226.2% | S100YD49 |

## 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 | 124,459 | 134,444 | 151,591 | 161,048 | 116,253 | S100TQZG, S100VZRD, S100YD49 |
| Total assets | 171,907 | 179,315 | 197,807 | 208,639 | 220,802 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Net assets | 136,639 | 139,789 | 148,894 | 158,990 | 169,377 | S100TQZG, S100VZRD, S100YD49 |
| Share capital | 10,519 | 10,519 | 10,519 | 10,519 | 10,519 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Property, plant and equipment | 1,232 | 1,146 | 1,230 | 1,217 | 1,323 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Intangible assets excluding goodwill | 533 | 621 | 1,228 | 1,272 | 1,989 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Investment securities | 32,760 | 28,870 | 29,613 | 31,369 | 34,254 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Current assets | 136,399 | 147,712 | 164,754 | 173,677 | 132,147 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Current liabilities | 27,934 | 33,227 | 42,502 | 42,731 | 44,715 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Total liabilities | 35,268 | 39,526 | 48,913 | 49,649 | 51,425 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Equity attributable to owners of parent | 121,798 | 127,588 | 136,177 | 145,233 | 155,630 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Retained earnings | 93,092 | 98,864 | 107,443 | 116,484 | 126,874 | S100R56R, S100TQZG, S100VZRD, S100YD49 |
| Treasury stock | -228 | -224 | -223 | -221 | -221 | S100R56R, S100TQZG, S100VZRD, S100YD49 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 53% | S100YD49 |
| Property, plant and equipment | 1% | S100YD49 |
| Intangibles and goodwill | 1% | S100YD49 |
| Investment securities | 15% | S100YD49 |
| Other assets | 30% | S100YD49 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 23% | S100YD49 |
| Equity | 77% | S100YD49 |

### 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 | 171,907 | 179,315 | 197,807 | 208,639 | 220,802 |
| Equity | 136,639 | 139,789 | 148,894 | 158,990 | 169,377 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 124,459 | 134,444 | 151,591 | 161,048 | 116,253 |

## 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) | 2.6% | S100YD49 |
| Fixed assets ÷ total assets | 0.6% | S100YD49 |
| Goodwill ÷ parent equity | — | —, S100YD49 |

### 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) | 52.7% |
| Cash ÷ revenue | 226.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 73.7% |
| Cash vs. profit gap | -760 JPY mn (of net income -4.2%) |
| Shareholder returns / net income | 42.7% |
| Shareholder returns / FCF | 49.0% |
| Shareholder payments — dividends / net income | 42.7% |
| Shareholder payments — dividends / FCF | 49.0% |
| CapEx intensity (capex ÷ revenue) | 3.0% |
| Investing CF relative to operating CF | 313.3% |

## 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 | 34.0% | 0.20× | 6.9% | 1.41× | 9.7% | S100R56R |
| 2023 | 32.7% | 0.19× | 6.3% | 1.41× | 8.8% | S100TQZG |
| 2024 | 33.0% | 0.22× | 7.3% | 1.43× | 10.5% | S100VZRD |
| 2025 | 34.4% | 0.23× | 8.0% | 1.44× | 11.5% | S100YD49 |
| 2026 | 35.3% | 0.24× | 8.4% | 1.43× | 12.1% | S100YD49 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社オービック | Major shareholder | 36.8% | 2026-03-31 |
| 和田 成史 | Major shareholder | 21.1% | 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 | 6.8% | 2026-03-31 |
| 和田 弘子 | Major shareholder | 4.8% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５００１ (常任代理人株式会社みずほ銀行決済営業部) | Major shareholder | 3.9% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.2% | 2026-03-31 |
| ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ ３８００５５ (常任代理人株式会社みずほ銀行決済営業部) | Major shareholder | 1.5% | 2026-03-31 |
| ＴＨＥ ＢＡＮＫ ＯＦ ＮＥＷ ＹＯＲＫ ＭＥＬＬＯＮ １４００４４ (常任代理人株式会社みずほ銀行決済営業部) | Major shareholder | 1.1% | 2026-03-31 |
| ＵＢＳ ＡＧ ＳＩＮＧＡＰＯＲＥ (常任代理人シティバンク、エヌ・エイ東京支店) | Major shareholder | 1.0% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５１０３ (常任代理人株式会社みずほ銀行決済営業部) | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第47期(2025/04/01－2026/03/31) | S100YD49 | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YD49,, |
| 有価証券報告書－第46期(2024/04/01－2025/03/31) | S100VZRD | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZRD,, |
| 有価証券報告書－第45期(2023/04/01－2024/03/31) | S100TQZG | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQZG,, |
| 有価証券報告書－第44期(2022/04/01－2023/03/31) | S100R56R | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R56R,, |
| 有価証券報告書－第43期(令和3年4月1日－令和4年3月31日) | S100OI3F | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OI3F,, |
| 有価証券報告書－第42期(令和2年4月1日－令和3年3月31日) | S100LL7Y | 2021-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LL7Y,, |

## 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).