# PRAP Japan,Inc.: business model and financials

> Latest period: FY ending Aug 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第55期(2024/09/01－2025/08/31) (S100X6O3)
> Page: https://vizora.meequs.com/en/company/prap-japan
> Retrieved: 2026-09-30T20:26:56.319Z

## Company

PRAP Japan, founded in 1970, is a company in PR & IR Services listed on TSE Standard. It has 378 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PRAP Japan, Inc. |
| Ticker | 2449 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2449.T) |
| Listing | TSE Standard |
| Head office | 東京都港区赤坂九丁目7番2号 ミッドタウン・イースト |
| Representative (per filing) | 代表取締役社長 鈴木勇夫 |
| Founded | Sep 1970 |
| Share capital | ¥470.8M |
| Employees (consolidated) | 378 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | August |
| Website | www.prap.co.jp (https://www.prap.co.jp/) |
| Corporate number | 7010401097578 |
| EDINET | E05498 |
| Industries (Vizora) | PR & IR Services, Advertising |

> Profile source: annual securities report (S100X6O3, filed 2025-11-26). As of filing

## Five-axis industry profile

Primary industry: PR & IR Services (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 61.1 | 9 |
| Profitability | 22.7 | 11 |
| Cash conversion | 31.8 | 11 |
| Efficiency | 59.1 | 11 |

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 64% of PRAP Japan's sales come from Communication service business, with Overseas business and Digital solution business making up much of the rest.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +7.3% from the prior year, operating profit +25.4%.

## Company structure

- Segment revenue mix: Communication service business 63.6%、Overseas business 25.8%、Digital solution business 10.6%
- Revenue → net income: ¥7388134000 → ¥526164000
- Net income → operating cash flow: ¥526164000 → ¥597920000（difference ¥71756000）
- Main uses of operating cash flow: CapEx ¥109310000 / dividends ¥176388000 / buybacks —
- Change in cash: ¥-112789000
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 | ¥7.39B |  |
| Operating income | ¥718.3M | Margin 9.7% |
| Net income | ¥476.2M | Margin 6.4% |
| Free cash flow | ¥488.6M |  |
| Largest business | Communication service business | of segment revenue 63.6% |
| Employees (consolidated) | 378 |  |
| EPS | ¥116.32 |  |
| Book value per share | ¥1204.95 |  |
| Equity ratio | 76.5% |  |
| Shares outstanding | 4,679,010 |  |
| Treasury shares | 240,000 |  |
| Shareholders | 2,259 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 61.4% | Cash ÷ revenue 58.3% |
| Vs. industry median margin | -3.7 pp | PR & IR Services |
| ROE | 9.4% | Derived from disclosed figures |
| ROA | 6.8% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 86% of positive segment profit
- FY2025, cash is 61% of total assets
- FY2025, segment profit share differs by 23 points

## What changed in 5 years

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4759512000 | ¥7388134000 | +55.2% |
| Operating income | ¥241469000 | ¥718288000 | +197.5% |
| Operating margin | 5.1% | 9.7% | +4.6 pp |
| Employees | 273 people | 378 people | +38.5% |
| Cash and equivalents | ¥3509131000 | ¥4304300000 | +22.7% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| ＰＲ事業 → 事業再編・廃止 | 99.8% |
| その他 → 事業再編・廃止 | 0.2% |
| 新設・再編 → コミュニケーションサービス事業 | 63.6% |
| 新設・再編 → デジタルソリューション事業 | 10.6% |
| 新設・再編 → 海外事業 | 25.8% |

Segment revenue source references: 5 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Communication service business | 4 years | -2.0% | ¥4696724000 | 13.5% | 2 |
| Overseas business | — | — | ¥1908154000 | 5.3% | 2 |
| Digital solution business | 4 years | -29.2% | ¥783255000 | -5.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 7,388 | 100.0% | S100X6O3 |
| Cost of revenue | 4,609 | 62.4% | S100X6O3 |
| Gross profit | 2,779 | 37.6% | S100X6O3 |
| SG&A | 2,061 | 27.9% | S100X6O3 |
| Operating income | 718 | 9.7% | S100X6O3 |
| Ordinary income | 732 | 9.9% | S100X6O3 |
| Pretax income | 732 | 9.9% | S100X6O3 |
| Income tax | 206 | 2.8% | S100X6O3 |
| Net income | 526 | 7.1% | S100X6O3 |
| Net income attributable to owners | 476 | 6.4% | S100X6O3 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 62 |
| SG&A | 28 |
| Operating income | 10 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 37.6% → Operating margin 9.7% → Net margin 6.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.3%; Core profit growth: +25.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.48×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 6,885 | 7,388 | 503 | +7.3% |
| Gross profit | 2,593 | 2,779 | 185 | +7.2% |
| Operating income | 573 | 718 | 146 | +25.4% |
| Net income attributable to owners | 227 | 476 | 250 | +110.1% |
| Operating cash flow | 492 | 598 | 106 | +21.5% |
| Free cash flow | 409 | 489 | 80 | +19.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2019 | 6,115 | 689 | 11.3% | 406 | 691 | 667 | S100K9DH |
| FY ending Aug 2020 | 4,760 | 241 | 5.1% | 174 | 318 | 288 | S100N06Y |
| FY ending Aug 2021 | 8,212 | 313 | 3.8% | 140 | 224 | 169 | S100PPOH |
| FY ending Aug 2022 | 6,274 | 440 | 7.0% | 157 | 398 | 185 | S100SDGD |
| FY ending Aug 2023 | 6,636 | 730 | 11.0% | 436 | 790 | 677 | S100UV2E |
| FY ending Aug 2024 | 6,885 | 573 | 8.3% | 227 | 492 | 409 | S100X6O3 |
| FY ending Aug 2025 | 7,388 | 718 | 9.7% | 476 | 598 | 489 | S100X6O3 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥19.5M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.3M |

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

| History | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 332 | 345 | 339 | 353 | 378 |
| Average salary (parent company) | ¥5.9M | ¥5.5M | ¥6.2M | ¥6.5M | ¥6.6M |
| Average age (parent company) | 35.9 years | 35.9 years | 36.6 years | 37.4 years | 36.3 years |
| Average tenure (parent company) | 7.0 years | 7.2 years | 8.3 years | 9.2 years | 8.7 years |

Year over year: Employees (consolidated) +7.1% · Revenue (consolidated) +7.3%

## Segments（FY ending Aug 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Communication service business | 4,697 | 63.6% | 634 | 13.5% |
| Digital solution business | 783 | 10.6% | -40 | -5.0% |
| Overseas business | 1,908 | 25.8% | 101 | 5.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Communication service business | 63.6% | 86.3% | 22.7 | 13.5% |
| Digital solution business | 10.6% | — | — | -5.0% |
| Overseas business | 25.8% | 13.7% | -12.1 | 5.3% |

Loss-making segment (excluded from profit shares): Digital solution business -40 JPY mn

Segment → industry: Overseas business → PR & IR Services / Communication service business → PR & IR Services / Overseas business → Advertising / Digital solution business → Advertising

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 598 | 8.1% | S100X6O3 |
| Capital expenditure | 109 | 1.5% | S100X6O3 |
| Free cash flow | 489 | 6.6% | 算出 |
| Investing cash flow | -316 | -4.3% | S100X6O3 |
| Financing cash flow | -368 | -5.0% | S100X6O3 |
| Dividends paid | 176 | 2.4% | S100X6O3 |
| Change in cash | -113 | -1.5% | S100X6O3 |
| Cash and equivalents | 4,304 | 58.3% | S100X6O3 |

## 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 Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,750 | 3,495 | 4,131 | 4,416 | 4,304 | S100SDGD, S100UV2E, S100X6O3 |
| Total assets | 5,907 | 6,406 | 6,852 | 6,996 | 7,009 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Net assets | 4,389 | 4,918 | 5,299 | 5,436 | 5,600 | S100SDGD, S100UV2E, S100X6O3 |
| Share capital | 471 | 471 | 471 | 471 | 471 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Trade receivables | 1,119 | — | — | — | — | S100PPOH |
| Inventories | 191 | 116 | 128 | 254 | 167 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Property, plant and equipment | 64 | 185 | 199 | 178 | 142 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Intangible assets excluding goodwill | 525 | 524 | 483 | 339 | 289 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Goodwill | 443 | 394 | 326 | 171 | 112 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Investment securities | 51 | 60 | 67 | 83 | 323 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Current assets | 4,630 | 5,000 | 5,720 | 6,059 | 5,958 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Current liabilities | 1,315 | 1,348 | 1,453 | 1,512 | 1,378 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Trade payables | 679 | 688 | 607 | 665 | 518 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Long-term borrowings | 18 | 14 | 11 | — | — | S100PPOH, S100SDGD, S100UV2E |
| Total liabilities | 1,518 | 1,488 | 1,553 | 1,559 | 1,408 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Non-controlling interests | 170 | 228 | 279 | 276 | 237 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Equity attributable to owners of parent | 4,209 | 4,595 | 4,900 | 4,978 | 5,198 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Retained earnings | 3,847 | 3,846 | 4,108 | 4,160 | 4,458 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |
| Treasury stock | -528 | -249 | -218 | -192 | -176 | S100PPOH, S100SDGD, S100UV2E, S100X6O3 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 61% | S100X6O3 |
| Inventories | 2% | S100X6O3 |
| Property, plant and equipment | 2% | S100X6O3 |
| Intangibles and goodwill | 6% | S100X6O3 |
| Investment securities | 5% | S100X6O3 |
| Other assets | 24% | S100X6O3 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100X6O3 |
| Other liabilities | 13% | S100X6O3 |
| Equity | 80% | S100X6O3 |
| Other liabilities | 0% | S100X6O3 |

### Balance sheet history

| Metric | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 5,907 | 6,406 | 6,852 | 6,996 | 7,009 |
| Equity | 4,389 | 4,918 | 5,299 | 5,436 | 5,600 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,750 | 3,495 | 4,131 | 4,416 | 4,304 |

## 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) | 1.9% | S100X6O3 |
| Fixed assets ÷ total assets | 2.0% | S100X6O3 |
| Goodwill ÷ parent equity | 2.2% | S100X6O3 |

Goodwill over 4 years: 443 → 112 JPY; total investing cash flow: -842 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) | 61.4% |
| Cash ÷ revenue | 58.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 83.2% |
| Cash vs. profit gap | 122 JPY mn (of net income 25.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 37.0% |
| Shareholder payments — dividends / FCF | 36.1% |
| CapEx intensity (capex ÷ revenue) | 1.5% |
| Investing CF relative to operating CF | 52.8% |

## 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 | 1.7% | 1.39× | 2.4% | 1.40× | 3.3% | S100PPOH |
| 2022 | 2.5% | 1.02× | 2.6% | 1.40× | 3.6% | S100SDGD |
| 2023 | 6.6% | 1.00× | 6.6% | 1.40× | 9.2% | S100UV2E |
| 2024 | 3.3% | 0.99× | 3.3% | 1.40× | 4.6% | S100X6O3 |
| 2025 | 6.4% | 1.06× | 6.8% | 1.38× | 9.4% | S100X6O3 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| Ｃａｖｅｎｄｉｓｈ Ｓｑｕａｒｅ Ｈｏｌｄｉｎｇ Ｂ．Ｖ． （常任代理人 ＶＭＬ＆Ｏｇｉｌｖｙ Ｊａｐａｎ合同会社） | Major shareholder | 21.1% | 2025-08-31 |
| 矢島 婦美子 | Major shareholder | 19.9% | 2025-08-31 |
| 野村 しのぶ | Major shareholder | 8.9% | 2025-08-31 |
| 矢島 さやか | Major shareholder | 8.3% | 2025-08-31 |
| 鈴木 勇夫 | Major shareholder | 3.2% | 2025-08-31 |
| 上田八木短資株式会社 | Major shareholder | 2.7% | 2025-08-31 |
| INTERACTIVE BROKERSLLC (常任代理人 インタラクティブ・ブローカーズ証券株式会社 代表取締役 ケリガン ダニエル) | Major shareholder | 1.8% | 2025-08-31 |
| 関谷 幸平 | Major shareholder | 1.4% | 2025-08-31 |
| 小山 純子 | Major shareholder | 1.4% | 2025-08-31 |
| プラップジャパン従業員持株会 | Major shareholder | 1.2% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第55期(2024/09/01－2025/08/31) | S100X6O3 | 2025-11-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X6O3,, |
| 有価証券報告書－第54期(2023/09/01－2024/08/31) | S100UV2E | 2024-11-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UV2E,, |
| 有価証券報告書－第53期(2022/09/01－2023/08/31) | S100SDGD | 2023-11-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SDGD,, |
| 有価証券報告書－第52期(令和3年9月1日－令和4年8月31日) | S100PPOH | 2022-11-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PPOH,, |
| 訂正有価証券報告書－第51期(令和2年9月1日－令和3年8月31日) | S100N06Y | 2021-12-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100N06Y,, |
| 有価証券報告書－第50期(令和1年9月1日－令和2年8月31日) | S100K9DH | 2020-11-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100K9DH,, |

## 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).