# OPTIMUS GROUP COMPANY LIMITED: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第12期(2025/04/01－2026/03/31) (S100YRX1)
> Page: https://vizora.meequs.com/en/company/optimus-group
> Retrieved: 2026-09-30T20:25:21.466Z

## Company

Optimus Group, founded in 1989, is a company in Credit Cards & Consumer Credit listed on TSE Standard. It has 2,755 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OPTIMUS GROUP COMPANY LIMITED |
| Ticker | 9268 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9268.T) |
| Listing | TSE Standard |
| Head office | 東京都港区浜松町二丁目4番1号 |
| Representative (per filing) | 代表取締役社長 山中 信哉 |
| Founded | May 1989 |
| Share capital | ¥4.08B |
| Employees (consolidated) | 2,755 |
| Average salary (parent only) | ¥10.5M |
| Fiscal year end | March |
| Website | www.optimusgroup.co.jp (https://www.optimusgroup.co.jp/) |
| Corporate number | 9010401116022 |
| EDINET | E33616 |
| Industries (Vizora) | Credit Cards & Consumer Credit, Car Dealers & Used Cars, Trucking & Parcel Delivery |

> Profile source: annual securities report (S100YRX1, filed 2026-07-23). As of filing

## Five-axis industry profile

Primary industry: Car Dealers & Used Cars (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 47.7 | 22 |
| Cash conversion | 12.5 | 20 |
| Efficiency | 47.7 | 22 |

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 70% of Optimus Group's sales come from CarRetail Wholesale, with Export Import and Logistics making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +17.4% from the prior year, operating profit +10.5%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥315.5B |  |
| Operating income | ¥9.84B | Margin 3.1% |
| Net income | ¥2.47B | Margin 0.8% |
| Free cash flow | — |  |
| Largest business | CarRetail Wholesale | of segment revenue 69.8% |
| Employees (consolidated) | 2,755 |  |
| EPS | ¥36.16 |  |
| Diluted EPS | ¥36.1 |  |
| Book value per share | ¥212.93 |  |
| Equity ratio | 19.6% | Derived from disclosed figures |
| Shares outstanding | 77,027,180 |  |
| Treasury shares | 8,583,700 |  |
| Shareholders | 17,875 |  |
| Average salary (parent only) | ¥10.5M | Filing company only |
| Cash ratio | 5.6% | Cash ÷ revenue 3.8% |
| Vs. industry median margin | -0.1 pp | Car Dealers & Used Cars |
| ROE | 7.4% | Derived from disclosed figures |
| ROA | 1.3% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by -36 points

## What changed in 5 years

Accounting standard changed in FY2024; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥24920147000 | ¥315507000000 | — |
| Operating income | ¥864774000 | ¥9837000000 | — |
| Operating margin | 3.5% | 3.1% | -0.4 pp |
| Employees | 466 people | 2,755 people | — |
| Cash and equivalents | ¥5280733000 | ¥12084000000 | — |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 貿易 → 事業再編・廃止 | 50.5% |
| 物流 → 事業再編・廃止 | 15.0% |
| サービス → 事業再編・廃止 | 24.7% |
| 検査 → 事業再編・廃止 | 9.6% |
| その他 → その他 | 0.1% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 輸出入 | 17.1% |
| 新設・再編 → 物流 | 10.4% |
| 新設・再編 → サービス | 1.2% |
| 新設・再編 → 検査 | 1.4% |
| 新設・再編 → 小売・卸売 | 69.8% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| CarRetail Wholesale | — | — | ¥220185000000 | 2.1% | 2 |
| Export Import | 2 years | +3.6% | ¥53859000000 | 2.6% | 2 |
| Logistics | — | — | ¥32921000000 | 8.3% | 2 |
| Inspection | — | — | ¥4323000000 | 25.2% | 2 |
| Service | — | — | ¥3863000000 | 16.0% | 2 |
| Other | — | — | ¥354000000 | 855.1% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 315,507 | 100.0% | S100YRX1 |
| Cost of revenue | 267,005 | 84.6% | S100YRX1 |
| Gross profit | 48,502 | 15.4% | S100YRX1 |
| SG&A | 39,166 | 12.4% | S100YRX1 |
| Operating income | 9,837 | 3.1% | S100YRX1 |
| Pretax income | 4,496 | 1.4% | S100YRX1 |
| Income tax | 1,776 | 0.6% | S100YRX1 |
| Net income | 2,719 | 0.9% | S100YRX1 |
| Net income attributable to owners | 2,469 | 0.8% | S100YRX1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 85 |
| SG&A | 12 |
| Operating income | 3 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 15.4% → Operating margin 3.1% → Net margin 0.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +17.4%; Core profit growth: +10.5%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.61×
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 | 268,825 | 315,507 | 46,682 | +17.4% |
| Gross profit | 43,606 | 48,502 | 4,896 | +11.2% |
| Operating income | 8,900 | 9,837 | 937 | +10.5% |
| Net income attributable to owners | 1,305 | 2,469 | 1,164 | +89.2% |
| Operating cash flow | 7,743 | 689 | -7,054 | -91.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 26,521 | 1,320 | 5.0% | 713 | -706 | -1,144 | S100LOXE |
| FY ending Mar 2021 | 24,920 | 865 | 3.5% | 953 | -1,500 | -1,919 | S100ODTA |
| FY ending Mar 2022 | 45,539 | 3,072 | 6.7% | 2,544 | -2,186 | -2,396 | S100R1HQ |
| FY ending Mar 2023 | 54,953 | 2,963 | 5.4% | 2,321 | -3,517 | -3,821 | S100TTKR |
| FY ending Mar 2024 | 123,934 | 6,889 | 5.6% | 2,854 | 2,287 | 1,226 | S100W4JU |
| FY ending Mar 2025 | 268,825 | 8,900 | 3.3% | 1,305 | 7,743 | -981 | S100YRX1 |
| FY ending Mar 2026 | 315,507 | 9,837 | 3.1% | 2,469 | 689 | — | S100YRX1 |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥114.5M |
| Operating income per employee (consolidated) | ¥3.6M |
| Net income per employee (consolidated) | ¥896.2K |

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) | 489 | 475 | 2,341 | 2,513 | 2,755 |
| Average salary (parent company) | ¥10.2M | ¥9.5M | ¥9.8M | ¥9.6M | ¥10.5M |
| Average age (parent company) | 49.3 years | 49.1 years | 49.4 years | 50.3 years | 50.6 years |
| Average tenure (parent company) | 4.0 years | 4.0 years | 4.6 years | 4.7 years | 4.8 years |

Year over year: Employees (consolidated) +9.6% · Revenue (consolidated) +17.4%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Export Import | 53,859 | 17.1% | 1,384 | 2.6% |
| Logistics | 32,921 | 10.4% | 2,732 | 8.3% |
| Service | 3,863 | 1.2% | 618 | 16.0% |
| Inspection | 4,323 | 1.4% | 1,088 | 25.2% |
| CarRetail Wholesale | 220,185 | 69.8% | 4,608 | 2.1% |
| Other | 354 | 0.1% | 3,027 | 855.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Export Import | 17.1% | 10.3% | -6.8 | 2.6% |
| Logistics | 10.4% | 20.3% | 9.9 | 8.3% |
| Service | 1.2% | 4.6% | 3.4 | 16.0% |
| Inspection | 1.4% | 8.1% | 6.7 | 25.2% |
| CarRetail Wholesale | 69.8% | 34.2% | -35.5 | 2.1% |
| Other | 0.1% | 22.5% | 22.4 | 855.1% |

Segment → industry: Service → Credit Cards & Consumer Credit / CarRetail Wholesale → Car Dealers & Used Cars / Inspection → Car Dealers & Used Cars / Export Import → Car Dealers & Used Cars / Logistics → Trucking & Parcel Delivery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 689 | 0.2% | S100YRX1 |
| Investing cash flow | -9,389 | -3.0% | S100YRX1 |
| Financing cash flow | 6,577 | 2.1% | S100YRX1 |
| Dividends paid | 1,227 | 0.4% | S100YRX1 |
| Change in cash | -885 | -0.3% | S100YRX1 |
| Cash and equivalents | 12,084 | 3.8% | S100YRX1 |

## 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 | 6,911 | 9,512 | 16,229 | 12,970 | 12,084 | S100TTKR, S100W4JU, S100YRX1 |
| Total assets | 42,012 | 51,203 | 138,961 | 163,088 | 214,470 | S100R1HQ, S100TTKR, S100YRX1 |
| Net assets | 14,651 | 17,287 | 22,295 | 26,313 | 43,148 | S100TTKR, S100W4JU, S100YRX1 |
| Share capital | 437 | 452 | 479 | 4,068 | 4,080 | S100R1HQ, S100TTKR, S100YRX1 |
| Inventories | 5,860 | 7,638 | 33,171 | 36,940 | — | S100R1HQ, S100TTKR, S100W4JU |
| Property, plant and equipment | 3,251 | 3,229 | 7,330 | 15,310 | 23,333 | S100R1HQ, S100TTKR, S100YRX1 |
| Intangible assets excluding goodwill | 315 | 3,019 | 25,603 | 25,009 | — | S100R1HQ, S100TTKR, S100W4JU |
| Goodwill | 55 | 1,291 | 22,812 | 23,738 | 27,807 | S100R1HQ, S100TTKR, S100YRX1 |
| Investment securities | 1,274 | 273 | 317 | 286 | — | S100R1HQ, S100TTKR, S100W4JU |
| Current assets | 36,467 | 44,055 | 83,932 | 84,355 | 107,454 | S100R1HQ, S100TTKR, S100YRX1 |
| Current liabilities | 23,181 | 28,017 | 99,105 | 91,038 | — | S100R1HQ, S100TTKR, S100W4JU |
| Short-term borrowings | 17,877 | 22,913 | 82,807 | 69,623 | — | S100R1HQ, S100TTKR, S100W4JU |
| Long-term borrowings | 3,383 | 4,591 | 3,284 | 18,575 | — | S100R1HQ, S100TTKR, S100W4JU |
| Total liabilities | 27,361 | 33,916 | 116,665 | 136,775 | 171,321 | S100R1HQ, S100TTKR, S100YRX1 |
| Non-controlling interests | — | 415 | 3,566 | 1,630 | — | S100TTKR, S100W4JU |
| Equity attributable to owners of parent | 13,938 | 16,440 | 19,500 | 25,076 | 41,984 | S100R1HQ, S100TTKR, S100YRX1 |
| Retained earnings | 12,707 | 14,244 | 17,305 | 17,501 | 18,742 | S100R1HQ, S100TTKR, S100YRX1 |
| Treasury stock | -1,087 | -741 | -741 | -741 | -741 | S100R1HQ, S100TTKR, S100YRX1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YRX1 |
| Property, plant and equipment | 11% | S100YRX1 |
| Intangibles and goodwill | 13% | — |
| Other assets | 70% | S100YRX1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 80% | S100YRX1 |
| Equity | 20% | S100YRX1 |
| Other liabilities | 0% | S100YRX1 |

### 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 | 42,012 | 51,203 | 138,961 | 163,088 | 214,470 |
| Equity | 14,651 | 17,287 | 22,295 | 26,313 | 43,148 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,911 | 9,512 | 16,229 | 12,970 | 12,084 |

## 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) | 7.4% | S100YRX1 |
| Fixed assets ÷ total assets | 10.9% | S100YRX1 |
| Goodwill ÷ parent equity | 66.2% | S100YRX1 |

Goodwill over 4 years: 55 → 27,807 JPY; total investing cash flow: -34,284 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) | 5.6% |
| Cash ÷ revenue | 3.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 7.0% |
| Cash vs. profit gap | -1,780 JPY mn (of net income -72.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 49.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 1362.7% |

## 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 | 5.6% | 1.08× | 6.1% | 3.01× | 18.3% | S100R1HQ |
| 2023 | 4.2% | 1.18× | 5.0% | 3.07× | 15.3% | S100TTKR |
| 2024 | 2.3% | 1.30× | 3.0% | 5.29× | 15.9% | S100W4JU, S100YRX1 |
| 2025 | 0.5% | 1.78× | 0.9% | 6.78× | 5.9% | S100YRX1 |
| 2026 | 0.8% | 1.67× | 1.3% | 5.63× | 7.4% | S100YRX1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 山中 信哉 | Major shareholder | 18.0% | 2026-03-31 |
| ロバート・アンドリュー・ヤング | Major shareholder | 12.3% | 2026-03-31 |
| マーティン・フレイザー・マッカラック | Major shareholder | 12.3% | 2026-03-31 |
| 内藤 征吾 | Major shareholder | 3.3% | 2026-03-31 |
| HIKARI TSUSHIN INVESTMENTS OKINAWA 株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 1.7% | 2026-03-31 |
| 浜本 憲至 | Major shareholder | 1.1% | 2026-03-31 |
| 大和証券株式会社 | Major shareholder | 0.9% | 2026-03-31 |
| 花光 雅丸 | Major shareholder | 0.8% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC) | Major shareholder | 0.7% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for FY ending Mar 2026 was ¥315.5B, up +17.4% from ¥268.8B.
- Operating income grew more slowly, up +10.5% to ¥9.84B, with gross profit up +11.2%.
- Net income attributable to owners nearly doubled, rising +89.2% to ¥2.47B.
- Operating cash flow went the other way, dropping -91.1% from ¥7.74B to ¥689M.

### Drivers

- New Zealand eased its Clean Car Standard in January 2026, and exports to Europe, developed while New Zealand was weak, also grew, lifting used-car export volumes
- Logistics grew sales and profit thanks to more European export handling, more shipments to Australia and the Australian car-transport company acquired the year before
- Australian new-car sales rose in volume, but tougher competition, including cheaper Chinese brands, cut gross profit per car and staff costs rose, so that segment's profit fell

### Risks

- Results depend heavily on the economies of Australia and New Zealand
- Most borrowing is at floating rates, so large moves in exchange rates or interest rates hit earnings
- Competition is intense both among Australian new-car dealers and in used-car exporting, which could squeeze returns

Cited: Amended Annual Securities Report (12th term) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Amended Annual Securities Report (12th term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第12期(2025/04/01－2026/03/31) | S100YRX1 | 2026-07-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YRX1,, |
| 有価証券報告書－第11期(2024/04/01－2025/03/31) | S100W4JU | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4JU,, |
| 有価証券報告書－第10期(2023/04/01－2024/03/31) | S100TTKR | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTKR,, |
| 有価証券報告書－第9期(2022/04/01－2023/03/31) | S100R1HQ | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1HQ,, |
| 有価証券報告書－第8期(令和3年4月1日－令和4年3月31日) | S100ODTA | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODTA,, |
| 有価証券報告書－第7期(令和2年4月1日－令和3年3月31日) | S100LOXE | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOXE,, |

## 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).