# PostPrime Inc.: business model and financials

> Latest period: FY ending May 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第7期(2025/06/01－2026/05/31) (S100YZ4E)
> Page: https://vizora.meequs.com/en/company/postprime
> Retrieved: 2026-09-30T19:05:55.521Z

## Company

PostPrime, founded in 2020, is a company in Internet Services & Apps listed on TSE Growth. It has 20 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PostPrime Inc. |
| Ticker | 198A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/198A.T) |
| Listing | TSE Growth |
| Head office | 東京都港区虎ノ門一丁目10番5号 |
| Representative (per filing) | 代表取締役社長 松島 悟 |
| Founded | Sep 2020 |
| Share capital | ¥49.5M |
| Employees (consolidated) | 20 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | May |
| Website | corp.postprime.com (https://corp.postprime.com/) |
| Corporate number | 7010401155402 |
| EDINET | E39708 |
| Industries (Vizora) | Internet Services & Apps, Securities & Asset Management |

> Profile source: annual securities report (S100YZ4E, filed 2026-08-27). As of filing

## Key points (generated from figures)

- About 97% of PostPrime's sales come from Financial and economic information platform business, with Trade platform business making up much of the rest.
- It lost about ¥43 for every ¥100 of sales at the operating level.
- Revenue changed -38.3% from the prior year, operating profit -230.0%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥553.6M |  |
| Operating income | -¥238.1M | Margin -43.0% |
| Net income | -¥277.3M | Margin -50.1% |
| Free cash flow | -¥559.8M |  |
| Largest business | Financial and economic information platform business | of segment revenue 97.0% |
| Employees (consolidated) | 20 |  |
| EPS | ¥-38.73 |  |
| Book value per share | ¥75.32 |  |
| Equity ratio | 76.0% |  |
| Shares outstanding | 10,252,060 |  |
| Shareholders | 6,675 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 60.9% | Cash ÷ revenue 111.7% |
| Vs. industry median margin | -50.7 pp | Internet Services & Apps |
| ROA | -24.4% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 61% of total assets
- FY2026, operating loss is 43 per ¥100 of revenue

## What changed in 3 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending May 2023 | FY ending May 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥787137000 | ¥553635000 | — |
| Operating income | ¥247002000 | ¥-238110000 | — |
| Operating margin | 31.4% | -43.0% | -74.4 pp |
| Employees | 15 people | 20 people | — |
| Cash and equivalents | ¥701043000 | ¥618334000 | — |

### Change in segment revenue mix

Span: FY ending May 2023 → FY ending May 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → 金融・経済情報プラットフォーム事業 | 97.0% |
| 新設・再編 → 取引プラットフォーム事業 | 3.0% |

Segment revenue source references: 2 (derived)

## Income statement（FY ending May 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 554 | 100.0% | S100YZ4E |
| Cost of revenue | 114 | 20.5% | S100YZ4E |
| Gross profit | 440 | 79.5% | S100YZ4E |
| SG&A | 678 | 122.5% | S100YZ4E |
| Operating income | -238 | -43.0% | S100YZ4E |
| Ordinary income | -218 | -39.4% | S100YZ4E |
| Pretax income | -249 | -45.0% | S100YZ4E |
| Income tax | 28 | 5.1% | S100YZ4E |
| Net income | -277 | -50.1% | S100YZ4E |
| Net income attributable to owners | -277 | -50.1% | S100YZ4E |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 21 |
| SG&A | 122 |
| Operating income | -43 |
| (Ref.) Net income | -50 |

### Margin funnel

Gross margin 79.5% → Operating margin -43.0% → Net margin -50.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
Calculated from comparable annual consolidated filings.

## Year over year（FY ending May 2025 → FY ending May 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 897 | 554 | -344 | -38.3% |
| Gross profit | 787 | 440 | -347 | -44.1% |
| Operating income | 183 | -238 | -421 | -230.0% |
| Net income attributable to owners | 87 | -277 | -365 | -417.5% |
| Operating cash flow | -44 | -558 | -515 | — |
| Free cash flow | -45 | -560 | -515 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2023 | 787 | 247 | 31.4% | 186 | 360 | 358 | S100UAE9 |
| FY ending May 2024 | 945 | 351 | 37.1% | 263 | 320 | 316 | S100UAE9 |
| FY ending May 2025 | 897 | 183 | 20.4% | 87 | -44 | -45 | S100YZ4E |
| FY ending May 2026 | 554 | -238 | -43.0% | -277 | -558 | -560 | S100YZ4E |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥27.7M |
| Operating income per employee (consolidated) | -¥11.9M |
| Net income per employee (consolidated) | -¥13.9M |

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

| History | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 15 | 22 | 28 | 20 |
| Average salary (parent company) | — | ¥5.8M | ¥6.5M | ¥6.6M |
| Average age (parent company) | — | 35.8 years | 35.5 years | 37.0 years |
| Average tenure (parent company) | — | 1.2 years | 2.0 years | 2.8 years |

Year over year: Employees (consolidated) -28.6% · Revenue (consolidated) -38.3%

## Segments（FY ending May 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Financial and economic information platform business | 537 | 97.0% | -24 | -4.4% |
| Trade platform business | 16 | 3.0% | -250 | -1518.5% |

### 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 | Margin |
| --- | ---: | ---: |
| Financial and economic information platform business | 97.0% | -4.4% |
| Trade platform business | 3.0% | -1518.5% |

Loss-making segment (excluded from profit shares): Financial and economic information platform business -24 JPY mn

Loss-making segment (excluded from profit shares): Trade platform business -250 JPY mn

Segment → industry: Financial and economic information platform business → Internet Services & Apps / Trade platform business → Securities & Asset Management

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -558 | -100.9% | S100YZ4E |
| Capital expenditure | 1 | 0.2% | S100YZ4E |
| Free cash flow | -560 | -101.1% | 算出 |
| Investing cash flow | -9 | -1.6% | S100YZ4E |
| Financing cash flow | 54 | 9.8% | S100YZ4E |
| Change in cash | -501 | -90.4% | S100YZ4E |
| Cash and equivalents | 618 | 111.7% | S100YZ4E |

## 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 May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 701 | 1,138 | 1,119 | 618 | S100UAE9, S100YZ4E |
| Total assets | 918 | 1,280 | 1,253 | 1,016 | S100UAE9, S100YZ4E |
| Net assets | 606 | 868 | 998 | 772 | S100UAE9, S100YZ4E |
| Share capital | 1 | 1 | 22 | 49 | S100UAE9, S100YZ4E |
| Property, plant and equipment | 2 | 5 | 4 | — | S100UAE9, S100YZ4E |
| Current assets | 885 | 1,228 | 1,218 | 1,007 | S100UAE9, S100YZ4E |
| Current liabilities | 312 | 411 | 255 | 244 | S100UAE9, S100YZ4E |
| Total liabilities | 312 | 411 | 255 | 244 | S100UAE9, S100YZ4E |
| Equity attributable to owners of parent | 602 | 865 | 994 | 772 | S100UAE9, S100YZ4E |
| Retained earnings | 601 | 864 | 952 | 674 | S100UAE9, S100YZ4E |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 61% | S100YZ4E |
| Other assets | 39% | S100YZ4E |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 24% | S100YZ4E |
| Equity | 76% | S100YZ4E |

### Balance sheet history

| Metric | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: |
| Total assets | 918 | 1,280 | 1,253 | 1,016 |
| Equity | 606 | 868 | 998 | 772 |
| Interest-bearing debt | — | — | — | — |
| Cash | 701 | 1,138 | 1,119 | 618 |

### 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) | 60.9% |
| Cash ÷ revenue | 111.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -281 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.2% |
| Investing CF relative to operating CF | — |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2023 | 23.6% | 0.86× | 20.3% | 1.52× | 30.9% | S100UAE9 |
| 2024 | 27.8% | 0.86× | 23.9% | 1.50× | 35.9% | S100UAE9 |
| 2025 | 9.7% | 0.72× | 7.0% | 1.26× | 8.8% | S100YZ4E |
| 2026 | — | —× | -24.4% | —× | — | S100YZ4E |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| サイブリッジ合同会社 | Major shareholder | 19.8% | 2026-05-31 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 4.0% | 2026-05-31 |
| 楽天証券株式会社共有口 | Major shareholder | 3.9% | 2026-05-31 |
| 株式会社SBI証券 | Major shareholder | 2.1% | 2026-05-31 |
| 薮田 晃彰 | Major shareholder | 1.4% | 2026-05-31 |
| BNYM SA/NV FOR BNYM FOR BNY GCM CLIENT ACCOUNTS M LSCB RD （常任代理人：株式会社三菱UFJ銀行） | Major shareholder | 1.4% | 2026-05-31 |
| J.P.MORGAN SECURITIES PLC （常任代理人：JPモルガン証券株式会社） | Major shareholder | 1.2% | 2026-05-31 |
| 上山 直人 | Major shareholder | 1.2% | 2026-05-31 |
| マネックス証券株式会社 | Major shareholder | 1.0% | 2026-05-31 |
| 打田 保貴 | Major shareholder | 1.0% | 2026-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第7期(2025/06/01－2026/05/31) | S100YZ4E | 2026-08-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YZ4E,, |
| 有価証券報告書－第6期(2024/06/01－2025/05/31) | S100WLY9 | 2025-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WLY9,, |
| 有価証券報告書－第5期(2023/06/01－2024/05/31) | S100UAE9 | 2024-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UAE9,, |

## 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).