# PORT INC.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第15期(2025/04/01－2026/03/31) (S100YDYD)
> Page: https://vizora.meequs.com/en/company/port
> Retrieved: 2026-09-30T21:33:18.101Z

## Company

Port, founded in 2011, is a company in HR & Staffing listed on TSE Growth. It has 1,032 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PORT INC. |
| Ticker | 7047 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7047.T) |
| Listing | TSE Growth |
| Head office | 東京都新宿区北新宿二丁目21番1号 |
| Representative (per filing) | 代表取締役社長CEO 春日 博文 |
| Founded | Apr 2011 |
| Share capital | ¥38M |
| Employees (consolidated) | 1,032 |
| Average salary (parent only) | ¥4.8M |
| Fiscal year end | March |
| Website | www.theport.jp (https://www.theport.jp/) |
| Corporate number | 8011001069074 |
| EDINET | E34537 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100YDYD, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 91.9 | 68 |
| Profitability | 72.2 | 88 |
| Cash conversion | 86.9 | 80 |
| Efficiency | 21 | 88 |

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)

- Port brought in ¥29.1B in revenue.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed +32.5% from the prior year, operating profit +36.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥29100000000 → ¥2808000000
- Net income → operating cash flow: ¥2808000000 → ¥5740000000（difference ¥2932000000）
- Main uses of operating cash flow: CapEx ¥3451000000 / dividends ¥33000000 / buybacks ¥695000000
- Change in cash: ¥4618000000
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 | ¥29.1B |  |
| Operating income | ¥4.07B | Margin 14.0% |
| Net income | ¥2.72B | Margin 9.3% |
| Free cash flow | ¥2.29B |  |
| Employees (consolidated) | 1,032 |  |
| EPS | ¥206.56 |  |
| Diluted EPS | ¥203.29 |  |
| Book value per share | ¥580.19 |  |
| Equity ratio | 29.3% | Derived from disclosed figures |
| Shares outstanding | 14,195,990 |  |
| Treasury shares | 1,078,100 |  |
| Shareholders | 5,369 |  |
| Average salary (parent only) | ¥4.8M | Filing company only |
| Cash ratio | 19.9% | Cash ÷ revenue 24.6% |
| Vs. industry median margin | +5.4 pp | HR & Staffing |
| ROE | 28.5% | Derived from disclosed figures |
| ROA | 9.2% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 21.1× dividends
- FY2026, operating cash flow is 2.1× net income
- FY2026, revenue is 4.2× its level five years ago

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4689000000 | ¥29100000000 | +520.6% |
| Operating income | ¥106000000 | ¥4073000000 | +3742.5% |
| Operating margin | 2.3% | 14.0% | +11.7 pp |
| Employees | 217 people | 1,032 people | +375.6% |
| Cash and equivalents | ¥2411000000 | ¥7161000000 | +197.0% |

### 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, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,100 | 100.0% | S100YDYD |
| Cost of revenue | 8,273 | 28.4% | S100YDYD |
| Gross profit | 20,826 | 71.6% | S100YDYD |
| SG&A | 17,136 | 58.9% | S100YDYD |
| Operating income | 4,073 | 14.0% | S100YDYD |
| Pretax income | 4,004 | 13.8% | S100YDYD |
| Income tax | 1,195 | 4.1% | S100YDYD |
| Net income | 2,808 | 9.6% | S100YDYD |
| Net income attributable to owners | 2,717 | 9.3% | S100YDYD |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 28 |
| SG&A | 59 |
| Other operating | -1 |
| Operating income | 14 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 71.6% → Operating margin 14.0% → Net margin 9.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +32.5%; Core profit growth: +36.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.12×
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 | 21,963 | 29,100 | 7,137 | +32.5% |
| Gross profit | 14,831 | 20,826 | 5,995 | +40.4% |
| Operating income | 2,987 | 4,073 | 1,086 | +36.4% |
| Net income attributable to owners | 1,887 | 2,717 | 830 | +44.0% |
| Operating cash flow | 2,066 | 5,740 | 3,674 | +177.8% |
| Free cash flow | -384 | 2,289 | 2,673 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2021 | 4,689 | 106 | 2.3% | 160 | 187 | 162 | S100OFBV |
| FY ending Mar 2022 | 6,994 | 599 | 8.6% | 332 | 614 | 542 | S100R4CP |
| FY ending Mar 2023 | 11,364 | 1,699 | 15.0% | 1,074 | 1,339 | 870 | S100TMSZ |
| FY ending Mar 2024 | 15,580 | 2,217 | 14.2% | 1,456 | 1,031 | -256 | S100WAW8 |
| FY ending Mar 2025 | 21,963 | 2,987 | 13.6% | 1,887 | 2,066 | -384 | S100YDYD |
| FY ending Mar 2026 | 29,100 | 4,073 | 14.0% | 2,717 | 5,740 | 2,289 | S100YDYD |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥28.2M |
| Operating income per employee (consolidated) | ¥3.9M |
| Net income per employee (consolidated) | ¥2.6M |

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) | 311 | 375 | 521 | 677 | 1,032 |
| Average salary (parent company) | ¥4.3M | ¥4.6M | ¥4.6M | ¥4.8M | ¥4.8M |
| Average age (parent company) | 29.0 years | 28.9 years | 28.6 years | 28.5 years | 28.9 years |
| Average tenure (parent company) | 2.7 years | 3.0 years | 2.8 years | 2.9 years | 3.1 years |

Year over year: Employees (consolidated) +52.4% · Revenue (consolidated) +32.5%

## 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 | 5,740 | 19.7% | S100YDYD |
| Capital expenditure | 3,451 | 11.9% | S100YDYD |
| Free cash flow | 2,289 | 7.9% | 算出 |
| Investing cash flow | -4,534 | -15.6% | S100YDYD |
| Financing cash flow | 3,412 | 11.7% | S100YDYD |
| Dividends paid | 33 | 0.1% | S100YDYD |
| Share buyback | 695 | 2.4% | S100YDYD |
| Change in cash | 4,618 | 15.9% | S100YDYD |
| Cash and equivalents | 7,161 | 24.6% | S100YDYD |

## 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 | 3,962 | 3,872 | 3,797 | 2,543 | 7,161 | S100TMSZ, S100WAW8, S100YDYD |
| Total assets | 10,322 | 11,435 | 16,235 | 22,729 | 36,029 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Net assets | 2,986 | 4,019 | 6,752 | 8,506 | 10,829 | S100TMSZ, S100WAW8, S100YDYD |
| Share capital | 934 | 944 | 2,323 | 2,556 | 38 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Property, plant and equipment | 63 | 316 | 955 | 1,278 | 2,391 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Goodwill | 3,337 | 3,399 | 3,995 | 4,554 | 8,234 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Current assets | 5,878 | 5,872 | 7,353 | 7,287 | 13,128 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Total liabilities | 7,335 | 7,415 | 9,482 | 14,222 | 25,199 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Equity attributable to owners of parent | 2,367 | 3,242 | 6,752 | 8,511 | 10,549 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Retained earnings | 1,119 | 2,193 | 3,662 | 5,512 | 8,053 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |
| Treasury stock | -599 | -800 | -594 | -573 | -1,269 | S100R4CP, S100TMSZ, S100WAW8, S100YDYD |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YDYD |
| Property, plant and equipment | 7% | S100YDYD |
| Intangibles and goodwill | 23% | — |
| Other assets | 50% | S100YDYD |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 70% | S100YDYD |
| Equity | 30% | S100YDYD |
| Other liabilities | 0% | S100YDYD |

### 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 | 10,322 | 11,435 | 16,235 | 22,729 | 36,029 |
| Equity | 2,986 | 4,019 | 6,752 | 8,506 | 10,829 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,962 | 3,872 | 3,797 | 2,543 | 7,161 |

## 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) | 8.2% | S100YDYD |
| Fixed assets ÷ total assets | 6.6% | S100YDYD |
| Goodwill ÷ parent equity | 78.1% | S100YDYD |

Goodwill over 4 years: 3,337 → 8,234 JPY; total investing cash flow: -12,705 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) | 19.9% |
| Cash ÷ revenue | 24.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 140.9% |
| Cash vs. profit gap | 3,023 JPY mn (of net income 111.3%) |
| Shareholder returns / net income | 26.8% |
| Shareholder returns / FCF | 31.8% |
| Shareholder payments — dividends / net income | 1.2% |
| Shareholder payments — dividends / FCF | 1.4% |
| CapEx intensity (capex ÷ revenue) | 11.9% |
| Investing CF relative to operating CF | 79.0% |

## 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 | 4.7% | 0.68× | 3.2% | 4.36× | 14.0% | S100R4CP |
| 2023 | 9.5% | 1.04× | 9.9% | 3.88× | 38.3% | S100TMSZ |
| 2024 | 9.3% | 1.13× | 10.5% | 2.77× | 29.1% | S100WAW8 |
| 2025 | 8.6% | 1.13× | 9.7% | 2.55× | 24.7% | S100YDYD |
| 2026 | 9.3% | 0.99× | 9.2% | 3.08× | 28.5% | S100YDYD |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 春日 博文 | Major shareholder | 31.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 4.7% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)(常任代理人 株式会社三菱ＵＦＪ銀行) | Major shareholder | 4.4% | 2026-03-31 |
| NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)(常任代理人 野村證券株式会社) | Major shareholder | 3.4% | 2026-03-31 |
| 丸山 侑佑 | Major shareholder | 3.0% | 2026-03-31 |
| セントラル短資株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| 新沼 吾史 | Major shareholder | 2.3% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 2.3% | 2026-03-31 |
| 株式会社チェンジホールディングス | Major shareholder | 2.1% | 2026-03-31 |
| 西村 裕二 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第15期(2025/04/01－2026/03/31) | S100YDYD | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDYD,, |
| 訂正有価証券報告書－第14期(2024/04/01－2025/03/31) | S100WAW8 | 2025-07-03 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WAW8,, |
| 有価証券報告書－第13期(2023/04/01－2024/03/31) | S100TMSZ | 2024-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TMSZ,, |
| 有価証券報告書－第12期(2022/04/01－2023/03/31) | S100R4CP | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4CP,, |
| 有価証券報告書－第11期(令和3年4月1日－令和4年3月31日) | S100OFBV | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFBV,, |
| 有価証券報告書－第10期(令和2年4月1日－令和3年3月31日) | S100LQN7 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQN7,, |

## 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).