# PLANET,INC.: business model and financials

> Latest period: FY ending Jul 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第40期(2024/08/01－2025/07/31) (S100WW9E)
> Page: https://vizora.meequs.com/en/company/planet
> Retrieved: 2026-09-30T21:31:00.130Z

## Company

Planet, founded in 1985, is a company in Software & SaaS listed on TSE Standard. It has 46 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PLANET, INC. |
| Ticker | 2391 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2391.T) |
| Listing | TSE Standard |
| Head office | 東京都港区浜松町一丁目31番 |
| Representative (per filing) | 代表取締役社長 坂田政一 |
| Founded | Feb 1985 |
| Share capital | ¥436.1M |
| Employees (consolidated) | 46 |
| Average salary (parent only) | ¥9.8M |
| Fiscal year end | July |
| Website | www.planet-van.co.jp (https://www.planet-van.co.jp/) |
| Corporate number | 5010401026654 |
| EDINET | E05378 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100WW9E, filed 2025-10-22). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2025-07-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 7.1 | 105 |
| Profitability | 67.2 | 145 |
| Cash conversion | 41.8 | 128 |
| Efficiency | 12.8 | 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)

- Planet brought in ¥3.16B in revenue.
- Out of every ¥100 of sales, about ¥18 is left as operating profit.
- Revenue changed -0.3% from the prior year, operating profit -12.2%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥3162307000 → ¥400784000
- Net income → operating cash flow: ¥400784000 → ¥532685000（difference ¥131901000）
- Main uses of operating cash flow: CapEx ¥222467000 / dividends ¥285118000 / buybacks ¥25000
- Change in cash: ¥228161000
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 | ¥3.16B |  |
| Operating income | ¥564M | Margin 17.8% |
| Net income | ¥400.8M | Margin 12.7% |
| Free cash flow | ¥310.2M |  |
| Employees (consolidated) | 46 |  |
| EPS | ¥60.44 |  |
| Book value per share | ¥849.93 |  |
| Equity ratio | 84.7% |  |
| Shares outstanding | 6,632,800 |  |
| Treasury shares | 2,000 |  |
| Shareholders | 4,705 |  |
| Average salary (parent only) | ¥9.8M | Filing company only |
| Cash ratio | 43.2% | Cash ÷ revenue 90.9% |
| Vs. industry median margin | +5.4 pp | Software & SaaS |
| ROE | 8.1% | Derived from disclosed figures |
| ROA | 6.1% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 43% of total assets

## What changed in 5 years

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3052636000 | ¥3162307000 | +3.6% |
| Operating income | ¥729666000 | ¥564043000 | -22.7% |
| Operating margin | 23.9% | 17.8% | -6.1 pp |
| Employees | 44 people | 46 people | +4.5% |
| Cash and equivalents | ¥2235197000 | ¥2876065000 | +28.7% |

### Change in segment revenue mix

Span: FY ending Jul 2020 → FY ending Jul 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,162 | 100.0% | S100WW9E |
| Cost of revenue | 1,215 | 38.4% | S100WW9E |
| Gross profit | 1,948 | 61.6% | S100WW9E |
| SG&A | 1,384 | 43.8% | S100WW9E |
| Operating income | 564 | 17.8% | S100WW9E |
| Ordinary income | 593 | 18.7% | S100WW9E |
| Pretax income | 596 | 18.8% | S100WW9E |
| Income tax | 195 | 6.2% | S100WW9E |
| Net income | 401 | 12.7% | S100WW9E |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 38 |
| SG&A | 44 |
| Operating income | 18 |
| (Ref.) Net income | 13 |

### Margin funnel

Gross margin 61.6% → Operating margin 17.8% → Net margin 12.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -0.3%; Core profit growth: -12.2%
Operating leverage (core profit growth ÷ revenue growth): 37.73×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 3,173 | 3,162 | -10 | -0.3% |
| Gross profit | 2,020 | 1,948 | -72 | -3.6% |
| Operating income | 642 | 564 | -78 | -12.2% |
| Operating cash flow | 625 | 533 | -93 | -14.8% |
| Free cash flow | 319 | 310 | -9 | -2.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 3,026 | 708 | 23.4% | 491 | 772 | — | S100JXLI |
| FY ending Jul 2020 | 3,053 | 730 | 23.9% | 442 | 722 | — | S100MN8N |
| FY ending Jul 2021 | 3,067 | 705 | 23.0% | 498 | 780 | 600 | S100PDZL |
| FY ending Jul 2022 | 3,131 | 705 | 22.5% | 526 | 689 | — | S100S1XC |
| FY ending Jul 2023 | 3,132 | 626 | 20.0% | 442 | 632 | 209 | S100UKDX |
| FY ending Jul 2024 | 3,173 | 642 | 20.2% | 458 | 625 | 319 | S100WW9E |
| FY ending Jul 2025 | 3,162 | 564 | 17.8% | 401 | 533 | 310 | S100WW9E |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥68.7M |
| Operating income per employee (consolidated) | ¥12.3M |
| Net income per employee (consolidated) | ¥8.7M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 44 | 46 | 46 | 47 | 46 |
| Average salary (parent company) | ¥10M | ¥10.1M | ¥9.9M | ¥9.8M | ¥9.8M |
| Average age (parent company) | 46.1 years | 46.2 years | 47.1 years | 47.6 years | 47.8 years |
| Average tenure (parent company) | 15.0 years | 14.7 years | 15.4 years | 16.1 years | 16.7 years |

Year over year: Employees (consolidated) -2.1% · Revenue (consolidated) -0.3%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jul 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 533 | 16.8% | S100WW9E |
| Capital expenditure | 222 | 7.0% | S100WW9E |
| Free cash flow | 310 | 9.8% | 算出 |
| Investing cash flow | -19 | -0.6% | S100WW9E |
| Financing cash flow | -285 | -9.0% | S100WW9E |
| Dividends paid | 285 | 9.0% | S100WW9E |
| Share buyback | 0 | 0.0% | S100WW9E |
| Change in cash | 228 | 7.2% | S100WW9E |
| Cash and equivalents | 2,876 | 90.9% | S100WW9E |

## 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 Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,497 | 2,692 | 2,575 | 2,648 | 2,876 | S100S1XC, S100UKDX, S100WW9E |
| Total assets | 5,820 | 6,274 | 6,367 | 6,556 | 6,653 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Net assets | 4,833 | 5,161 | 5,345 | 5,426 | 5,636 | S100S1XC, S100UKDX, S100WW9E |
| Share capital | 436 | 436 | 436 | 436 | 436 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Property, plant and equipment | 17 | 13 | 12 | 11 | 11 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Intangible assets excluding goodwill | 473 | 574 | 718 | 969 | 771 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Investment securities | 1,145 | 1,107 | 1,164 | 1,100 | 827 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Current assets | 3,039 | 3,254 | 3,128 | 3,220 | 3,488 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Current liabilities | 502 | 566 | 444 | 579 | 507 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Total liabilities | 987 | 1,112 | 1,021 | 1,130 | 1,018 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Equity attributable to owners of parent | 4,326 | 4,573 | 4,737 | 4,910 | 5,026 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Retained earnings | 3,764 | 4,012 | 4,176 | 4,348 | 4,464 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |
| Treasury stock | -2 | -2 | -2 | -2 | -2 | S100PDZL, S100S1XC, S100UKDX, S100WW9E |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 43% | S100WW9E |
| Property, plant and equipment | 0% | S100WW9E |
| Intangibles and goodwill | 12% | S100WW9E |
| Investment securities | 12% | S100WW9E |
| Other assets | 33% | S100WW9E |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 15% | S100WW9E |
| Equity | 85% | S100WW9E |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 5,820 | 6,274 | 6,367 | 6,556 | 6,653 |
| Equity | 4,833 | 5,161 | 5,345 | 5,426 | 5,636 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,497 | 2,692 | 2,575 | 2,648 | 2,876 |

## 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) | 0.4% | S100WW9E |
| Fixed assets ÷ total assets | 0.2% | S100WW9E |
| Goodwill ÷ parent equity | — | —, S100WW9E |

### 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) | 43.2% |
| Cash ÷ revenue | 90.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 94.4% |
| Cash vs. profit gap | 132 JPY mn (of net income 32.9%) |
| Shareholder returns / net income | 71.1% |
| Shareholder returns / FCF | 91.9% |
| Shareholder payments — dividends / net income | 71.1% |
| Shareholder payments — dividends / FCF | 91.9% |
| CapEx intensity (capex ÷ revenue) | 7.0% |
| Investing CF relative to operating CF | 3.6% |

## 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 | 16.2% | 0.53× | 8.6% | 1.35× | 11.5% | S100PDZL |
| 2022 | 16.8% | 0.52× | 8.7% | 1.36× | 11.8% | S100S1XC |
| 2023 | 14.1% | 0.50× | 7.0% | 1.36× | 9.5% | S100UKDX |
| 2024 | 14.4% | 0.49× | 7.1% | 1.34× | 9.5% | S100WW9E |
| 2025 | 12.7% | 0.48× | 6.1% | 1.33× | 8.1% | S100WW9E |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ライオン株式会社 | Major shareholder | 15.6% | 2025-07-31 |
| 日本マスタートラスト信託銀行株式会社（退職給付信託口・株式会社インテック口） | Major shareholder | 15.5% | 2025-07-31 |
| ユニ・チャーム株式会社 | Major shareholder | 4.5% | 2025-07-31 |
| ジョンソン株式会社 | Major shareholder | 4.5% | 2025-07-31 |
| エステー株式会社 | Major shareholder | 4.5% | 2025-07-31 |
| 日本製紙クレシア株式会社 | Major shareholder | 4.5% | 2025-07-31 |
| 牛乳石鹸共進社株式会社 | Major shareholder | 4.5% | 2025-07-31 |
| 小林正彦 | Major shareholder | 2.8% | 2025-07-31 |
| 和田昌彦 | Major shareholder | 2.7% | 2025-07-31 |
| 小林製薬株式会社 | Major shareholder | 2.6% | 2025-07-31 |
| クラシエ株式会社 | Major shareholder | 2.6% | 2025-07-31 |
| ユニリーバ・ジャパン・カスタマーマーケティング株式会社 | Major shareholder | 2.6% | 2025-07-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第40期(2024/08/01－2025/07/31) | S100WW9E | 2025-10-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WW9E,, |
| 有価証券報告書－第39期(2023/08/01－2024/07/31) | S100UKDX | 2024-10-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UKDX,, |
| 有価証券報告書－第38期(2022/08/01－2023/07/31) | S100S1XC | 2023-10-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S1XC,, |
| 有価証券報告書－第37期(令和3年8月1日－令和4年7月31日) | S100PDZL | 2022-10-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PDZL,, |
| 有価証券報告書－第36期(令和2年8月1日－令和3年7月31日) | S100MN8N | 2021-10-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MN8N,, |
| 有価証券報告書－第35期(令和1年8月1日－令和2年7月31日) | S100JXLI | 2020-10-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JXLI,, |

## 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).