# ODK Solutions Company,Ltd: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第63期(2025/04/01－2026/03/31) (S100YHN8)
> Page: https://vizora.meequs.com/en/company/odk-solutions
> Retrieved: 2026-09-30T20:59:27.958Z

## Company

ODK Solutions Company, founded in 1963, is a company in IT Services & System Integration listed on TSE Standard. It has 204 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ODK Solutions Company,Ltd. |
| Ticker | 3839 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3839.T) |
| Listing | TSE Standard |
| Head office | 大阪市中央区道修町一丁目6番7号 |
| Representative (per filing) | 代表取締役社長 勝根 秀和 |
| Founded | Apr 1963 |
| Share capital | ¥637.2M |
| Employees (consolidated) | 204 |
| Average salary (parent only) | ¥6.2M |
| Fiscal year end | March |
| Corporate number | 8120001092926 |
| EDINET | E05679 |
| Industries (Vizora) | IT Services & System Integration |

> Profile source: annual securities report (S100YHN8, filed 2026-06-23). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 21.3 | 157 |
| Profitability | 51.8 | 196 |
| Cash conversion | 73.2 | 185 |
| Efficiency | 9.9 | 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)

- ODK Solutions Company brought in ¥6.66B in revenue.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +2.9% from the prior year, operating profit +17.6%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥6657915000 → ¥139501000
- Net income → operating cash flow: ¥139501000 → ¥652594000（difference ¥513093000）
- Main uses of operating cash flow: CapEx ¥288476000 / dividends ¥81855000 / buybacks ¥0
- Change in cash: ¥-37906000
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 | ¥6.66B |  |
| Operating income | ¥606.8M | Margin 9.1% |
| Net income | ¥139.5M | Margin 2.1% |
| Free cash flow | ¥364.1M |  |
| Employees (consolidated) | 204 |  |
| EPS | ¥10.4 |  |
| Book value per share | ¥782.68 |  |
| Equity ratio | 71.1% |  |
| Shares outstanding | 8,200,000 |  |
| Treasury shares | 5,800 |  |
| Shareholders | 12,695 |  |
| Average salary (parent only) | ¥6.2M | Filing company only |
| Cash ratio | 34.2% | Cash ÷ revenue 46.3% |
| Vs. industry median margin | +0.2 pp | IT Services & System Integration |
| ROE | 2.3% | Derived from disclosed figures |
| ROA | 1.5% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 4.7× net income
- FY2026, employees -2% while operating income rose 18%
- FY2026, cash is 34% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5412052000 | ¥6657915000 | +23.0% |
| Operating income | ¥669231000 | ¥606811000 | -9.3% |
| Operating margin | 12.4% | 9.1% | -3.3 pp |
| Employees | 160 people | 204 people | +27.5% |
| Cash and equivalents | ¥2414256000 | ¥3085415000 | +27.8% |

### 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, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,658 | 100.0% | S100YHN8 |
| Cost of revenue | 4,483 | 67.3% | S100YHN8 |
| Gross profit | 2,175 | 32.7% | S100YHN8 |
| SG&A | 1,568 | 23.6% | S100YHN8 |
| Operating income | 607 | 9.1% | S100YHN8 |
| Ordinary income | 659 | 9.9% | S100YHN8 |
| Pretax income | 391 | 5.9% | S100YHN8 |
| Income tax | 252 | 3.8% | S100YHN8 |
| Net income | 140 | 2.1% | S100YHN8 |
| Net income attributable to owners | 140 | 2.1% | S100YHN8 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 67 |
| SG&A | 24 |
| Operating income | 9 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 32.7% → Operating margin 9.1% → Net margin 2.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.9%; Core profit growth: +17.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 6.13×
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 | 6,472 | 6,658 | 186 | +2.9% |
| Gross profit | 1,971 | 2,175 | 204 | +10.3% |
| Operating income | 516 | 607 | 91 | +17.6% |
| Net income attributable to owners | 263 | 140 | -124 | -47.0% |
| Operating cash flow | 1,001 | 653 | -348 | -34.8% |
| Free cash flow | 561 | 364 | -197 | -35.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 5,152 | 524 | 10.2% | 366 | 742 | 240 | S100LMEF |
| FY ending Mar 2021 | 5,412 | 669 | 12.4% | 474 | 715 | 114 | S100OHO9 |
| FY ending Mar 2022 | 5,501 | 437 | 7.9% | 194 | 917 | 326 | S100R5OZ |
| FY ending Mar 2023 | 5,566 | 421 | 7.6% | 237 | 539 | -69 | S100TRW0 |
| FY ending Mar 2024 | 5,867 | 573 | 9.8% | 267 | 1,078 | 496 | S100W1NP |
| FY ending Mar 2025 | 6,472 | 516 | 8.0% | 263 | 1,001 | 561 | S100YHN8 |
| FY ending Mar 2026 | 6,658 | 607 | 9.1% | 140 | 653 | 364 | S100YHN8 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥32.6M |
| Operating income per employee (consolidated) | ¥3M |
| Net income per employee (consolidated) | ¥683.8K |

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) | 195 | 198 | 202 | 209 | 204 |
| Average salary (parent company) | ¥6.5M | ¥6.4M | ¥6.3M | ¥6.3M | ¥6.2M |
| Average age (parent company) | 41.2 years | 41.4 years | 40.9 years | 40.8 years | 41.3 years |
| Average tenure (parent company) | 13.1 years | 12.0 years | 11.7 years | 11.7 years | 12.1 years |

Year over year: Employees (consolidated) -2.4% · Revenue (consolidated) +2.9%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 653 | 9.8% | S100YHN8 |
| Capital expenditure | 288 | 4.3% | S100YHN8 |
| Free cash flow | 364 | 5.5% | 算出 |
| Investing cash flow | -283 | -4.3% | S100YHN8 |
| Financing cash flow | -407 | -6.1% | S100YHN8 |
| Dividends paid | 82 | 1.2% | S100YHN8 |
| Share buyback | 0 | 0.0% | S100YHN8 |
| Change in cash | -38 | -0.6% | S100YHN8 |
| Cash and equivalents | 3,085 | 46.3% | S100YHN8 |

## 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 | 2,376 | 2,661 | 2,706 | 3,123 | 3,085 | S100TRW0, S100W1NP, S100YHN8 |
| Total assets | 8,030 | 8,538 | 8,694 | 9,254 | 9,021 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Net assets | 5,735 | 5,797 | 6,055 | 6,305 | 6,414 | S100TRW0, S100W1NP, S100YHN8 |
| Share capital | 637 | 637 | 637 | 637 | 637 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Property, plant and equipment | 475 | 338 | 265 | 195 | 244 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Intangible assets excluding goodwill | 970 | 1,468 | 1,373 | 1,465 | 869 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Goodwill | 51 | 84 | 74 | 304 | 75 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Investment securities | 1,029 | 979 | 1,065 | 1,184 | 1,237 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Current assets | 4,969 | 5,229 | 5,443 | 5,841 | 6,110 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Current liabilities | 1,311 | 1,434 | 1,704 | 1,787 | 1,663 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Short-term borrowings | 147 | 316 | 313 | 381 | — | S100R5OZ, S100TRW0, S100W1NP |
| Long-term borrowings | 332 | 778 | 465 | 714 | 473 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Total liabilities | 2,295 | 2,741 | 2,639 | 2,949 | 2,607 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Non-controlling interests | 1 | — | — | — | — | S100R5OZ |
| Equity attributable to owners of parent | 5,581 | 5,675 | 5,861 | 6,089 | 6,156 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Retained earnings | 4,249 | 4,404 | 4,589 | 4,771 | 4,829 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |
| Treasury stock | -0 | -61 | -61 | -13 | -3 | S100R5OZ, S100TRW0, S100W1NP, S100YHN8 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 34% | S100YHN8 |
| Property, plant and equipment | 3% | S100YHN8 |
| Intangibles and goodwill | 10% | S100YHN8 |
| Investment securities | 14% | S100YHN8 |
| Other assets | 39% | S100YHN8 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 29% | S100YHN8 |
| Equity | 71% | S100YHN8 |

### 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 | 8,030 | 8,538 | 8,694 | 9,254 | 9,021 |
| Equity | 5,735 | 5,797 | 6,055 | 6,305 | 6,414 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,376 | 2,661 | 2,706 | 3,123 | 3,085 |

## 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) | 3.7% | S100YHN8 |
| Fixed assets ÷ total assets | 2.7% | S100YHN8 |
| Goodwill ÷ parent equity | 1.2% | S100YHN8 |

Goodwill over 4 years: 51 → 75 JPY; total investing cash flow: -2,730 JPY. This does not imply causation.

### 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) | 34.2% |
| Cash ÷ revenue | 46.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 107.5% |
| Cash vs. profit gap | 513 JPY mn (of net income 367.8%) |
| Shareholder returns / net income | 58.7% |
| Shareholder returns / FCF | 22.5% |
| Shareholder payments — dividends / net income | 58.7% |
| Shareholder payments — dividends / FCF | 22.5% |
| CapEx intensity (capex ÷ revenue) | 4.3% |
| Investing CF relative to operating CF | 43.4% |

## 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 | 3.5% | 0.69× | 2.4% | 1.44× | 3.5% | S100R5OZ |
| 2023 | 4.3% | 0.67× | 2.9% | 1.47× | 4.2% | S100TRW0 |
| 2024 | 4.5% | 0.68× | 3.1% | 1.49× | 4.6% | S100W1NP |
| 2025 | 4.1% | 0.72× | 2.9% | 1.50× | 4.4% | S100YHN8 |
| 2026 | 2.1% | 0.73× | 1.5% | 1.49× | 2.3% | S100YHN8 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社学研ホールディングス | Major shareholder | 16.5% | 2026-03-31 |
| 株式会社ファルコホールディングス | Major shareholder | 10.4% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 6.5% | 2026-03-31 |
| ナカバヤシ株式会社 | Major shareholder | 5.5% | 2026-03-31 |
| 日本通信紙株式会社 | Major shareholder | 4.9% | 2026-03-31 |
| 広田証券株式会社 | Major shareholder | 3.7% | 2026-03-31 |
| 日本システム技術株式会社 | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 3.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YHN8 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHN8,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100W1NP | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1NP,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TRW0 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRW0,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R5OZ | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5OZ,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OHO9 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHO9,, |
| 有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LMEF | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMEF,, |

## 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).