# PRONEXUS 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82期(2025/04/01－2026/03/31) (S100YEYJ)
> Page: https://vizora.meequs.com/en/company/pronexus
> Retrieved: 2026-09-30T21:01:28.491Z

## Company

Pronexus, founded in 1947, is a company in PR & IR Services listed on TSE Prime. It has 1,796 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PRONEXUS INC. |
| Ticker | 7893 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7893.T) |
| Listing | TSE Prime |
| Head office | 東京都港区海岸一丁目2番20号 |
| Representative (per filing) | 代表取締役社長 上野 剛史 |
| Founded | May 1947 |
| Share capital | ¥3.06B |
| Employees (consolidated) | 1,796 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.pronexus.co.jp (https://www.pronexus.co.jp/) |
| Corporate number | 4010401001245 |
| EDINET | E00716 |
| Industries (Vizora) | PR & IR Services |

> Profile source: annual securities report (S100YEYJ, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: PR & IR Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 38.9 | 9 |
| Profitability | 13.6 | 11 |
| Cash conversion | 86.4 | 11 |
| Efficiency | 31.8 | 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)

- Pronexus brought in ¥32.8B in revenue.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +5.9% from the prior year, operating profit +1291.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥32821396000 → ¥2162114000
- Net income → operating cash flow: ¥2162114000 → ¥3526426000（difference ¥1364312000）
- Main uses of operating cash flow: CapEx ¥2692451000 / dividends ¥1171195000 / buybacks ¥999948000
- Change in cash: ¥-3572135000
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 | ¥32.8B |  |
| Operating income | ¥2.91B | Margin 8.9% |
| Net income | ¥2.11B | Margin 6.4% |
| Free cash flow | ¥834M |  |
| Employees (consolidated) | 1,796 |  |
| EPS | ¥83.19 |  |
| Book value per share | ¥868.65 |  |
| Equity ratio | 63.0% | Derived from disclosed figures |
| Shares outstanding | 27,716,688 |  |
| Treasury shares | 3,062,200 |  |
| Shareholders | 34,729 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 23.3% | Cash ÷ revenue 26.6% |
| Vs. industry median margin | -4.5 pp | PR & IR Services |
| ROE | 8.7% | Derived from disclosed figures |
| ROA | 5.5% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥24996575000 | ¥32821396000 | +31.3% |
| Operating income | ¥2130143000 | ¥2905860000 | +36.4% |
| Operating margin | 8.5% | 8.9% | +0.3 pp |
| Employees | 1,424 people | 1,796 people | +26.1% |
| Cash and equivalents | ¥12845107000 | ¥8737182000 | -32.0% |

### 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 | 32,821 | 100.0% | S100YEYJ |
| Cost of revenue | 20,530 | 62.6% | S100YEYJ |
| Gross profit | 12,291 | 37.4% | S100YEYJ |
| SG&A | 9,365 | 28.5% | S100YEYJ |
| Operating income | 2,906 | 8.9% | S100YEYJ |
| Pretax income | 3,012 | 9.2% | S100YEYJ |
| Income tax | 850 | 2.6% | S100YEYJ |
| Net income | 2,162 | 6.6% | S100YEYJ |
| Net income attributable to owners | 2,108 | 6.4% | S100YEYJ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 63 |
| SG&A | 28 |
| Operating income | 9 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 37.4% → Operating margin 8.9% → Net margin 6.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +5.9%; Core profit growth: +1291.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 219.26×
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 | 30,996 | 32,821 | 1,825 | +5.9% |
| Gross profit | 11,182 | 12,291 | 1,109 | +9.9% |
| Operating income | 209 | 2,906 | 2,697 | +1291.3% |
| Net income attributable to owners | 451 | 2,108 | 1,657 | +367.5% |
| Operating cash flow | 4,286 | 3,526 | -760 | -17.7% |
| Free cash flow | 2,699 | 834 | -1,865 | -69.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2019 | 23,158 | — | — | 1,835 | 2,886 | — | S100R7ZC |
| FY ending Mar 2020 | 24,446 | 2,600 | 10.6% | 1,846 | 4,172 | 2,771 | S100LT7W |
| FY ending Mar 2021 | 24,997 | 2,130 | 8.5% | 1,691 | 3,917 | 2,256 | S100OIG3 |
| FY ending Mar 2022 | 26,142 | 2,483 | 9.5% | 1,763 | 3,843 | 2,460 | S100R7ZC |
| FY ending Mar 2023 | 26,804 | 2,212 | 8.3% | 1,618 | 3,600 | 2,188 | S100TUVW |
| FY ending Mar 2024 | 30,117 | 2,435 | 8.1% | 1,779 | 5,325 | 3,558 | S100W1GF |
| FY ending Mar 2025 | 30,996 | 209 | 0.7% | 451 | 4,286 | 2,699 | S100YEYJ |
| FY ending Mar 2026 | 32,821 | 2,906 | 8.9% | 2,108 | 3,526 | 834 | S100YEYJ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥18.3M |
| Operating income per employee (consolidated) | ¥1.6M |
| Net income per employee (consolidated) | ¥1.2M |

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) | 1,440 | 1,651 | 1,660 | 1,668 | 1,796 |
| Average salary (parent company) | ¥7.2M | ¥7M | ¥6.9M | ¥7.2M | ¥7.4M |
| Average age (parent company) | 42.4 years | 42.5 years | 43.0 years | 43.4 years | 43.5 years |
| Average tenure (parent company) | 12.3 years | 12.5 years | 12.4 years | 12.7 years | 12.7 years |

Year over year: Employees (consolidated) +7.7% · Revenue (consolidated) +5.9%

## 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 | 3,526 | 10.7% | S100YEYJ |
| Capital expenditure | 2,692 | 8.2% | S100YEYJ |
| Free cash flow | 834 | 2.5% | 算出 |
| Investing cash flow | -3,719 | -11.3% | S100YEYJ |
| Financing cash flow | -3,403 | -10.4% | S100YEYJ |
| Dividends paid | 1,171 | 3.6% | S100YEYJ |
| Share buyback | 1,000 | 3.0% | S100YEYJ |
| Change in cash | -3,572 | -10.9% | S100YEYJ |
| Cash and equivalents | 8,737 | 26.6% | S100YEYJ |

## 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 | 12,208 | 7,574 | 9,452 | 12,309 | 8,737 | S100TUVW, S100W1GF, S100YEYJ |
| Total assets | 35,560 | 36,918 | 38,584 | 38,660 | 37,478 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Net assets | 23,453 | 24,436 | 25,583 | 25,020 | 24,335 | S100TUVW, S100W1GF, S100YEYJ |
| Share capital | 3,059 | 3,059 | 3,059 | 3,059 | 3,059 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Property, plant and equipment | 4,318 | 4,440 | 4,410 | 4,786 | 4,587 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Goodwill | 472 | 3,666 | 3,671 | 1,165 | 3,055 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Current assets | 17,529 | 13,534 | 15,343 | 18,341 | 14,124 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Total liabilities | 12,107 | 12,482 | 13,001 | 13,640 | 13,143 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Equity attributable to owners of parent | 23,421 | 24,395 | 25,535 | 24,966 | 23,608 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Retained earnings | 16,995 | 17,854 | 18,871 | 18,391 | 19,398 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |
| Treasury stock | -2,269 | -2,269 | -2,270 | -2,270 | -3,270 | S100R7ZC, S100TUVW, S100W1GF, S100YEYJ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 24% | S100YEYJ |
| Property, plant and equipment | 12% | S100YEYJ |
| Intangibles and goodwill | 8% | — |
| Other assets | 56% | S100YEYJ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 35% | S100YEYJ |
| Equity | 65% | S100YEYJ |

### 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 | 35,560 | 36,918 | 38,584 | 38,660 | 37,478 |
| Equity | 23,453 | 24,436 | 25,583 | 25,020 | 24,335 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 12,208 | 7,574 | 9,452 | 12,309 | 8,737 |

## 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) | 14.0% | S100YEYJ |
| Fixed assets ÷ total assets | 12.2% | S100YEYJ |
| Goodwill ÷ parent equity | 12.9% | S100YEYJ |

Goodwill over 4 years: 472 → 3,055 JPY; total investing cash flow: -12,921 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) | 23.3% |
| Cash ÷ revenue | 26.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 121.4% |
| Cash vs. profit gap | 1,418 JPY mn (of net income 67.3%) |
| Shareholder returns / net income | 103.0% |
| Shareholder returns / FCF | 260.3% |
| Shareholder payments — dividends / net income | 55.6% |
| Shareholder payments — dividends / FCF | 140.4% |
| CapEx intensity (capex ÷ revenue) | 8.2% |
| Investing CF relative to operating CF | 105.5% |

## 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 | 6.7% | 0.74× | 5.0% | 1.52× | 7.5% | S100R7ZC |
| 2023 | 6.0% | 0.74× | 4.5% | 1.52× | 6.8% | S100TUVW |
| 2024 | 5.9% | 0.80× | 4.7% | 1.51× | 7.1% | S100W1GF |
| 2025 | 1.5% | 0.80× | 1.2% | 1.53× | 1.8% | S100YEYJ |
| 2026 | 6.4% | 0.86× | 5.5% | 1.57× | 8.7% | S100YEYJ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 上野 守生 | Major shareholder | 13.6% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 7.3% | 2026-03-31 |
| NORTHERN TRUST CO．（AVFC） RE FIDELITY FUNDS（常任代理人 香港上海銀行東京支店） | Major shareholder | 5.9% | 2026-03-31 |
| 上野 誠子 | Major shareholder | 5.7% | 2026-03-31 |
| プロネクサス社員持株会 | Major shareholder | 5.0% | 2026-03-31 |
| 上野 吉生 | Major shareholder | 3.2% | 2026-03-31 |
| 上野 剛史 | Major shareholder | 3.0% | 2026-03-31 |
| 峯戸松 明子 | Major shareholder | 3.0% | 2026-03-31 |
| 岡田 達也 | Major shareholder | 2.3% | 2026-03-31 |
| DAISUKE UENO | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第82期(2025/04/01－2026/03/31) | S100YEYJ | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEYJ,, |
| 有価証券報告書－第81期(2024/04/01－2025/03/31) | S100W1GF | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W1GF,, |
| 有価証券報告書－第80期(2023/04/01－2024/03/31) | S100TUVW | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TUVW,, |
| 有価証券報告書－第79期(2022/04/01－2023/03/31) | S100R7ZC | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7ZC,, |
| 有価証券報告書－第78期(令和3年4月1日－令和4年3月31日) | S100OIG3 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIG3,, |
| 有価証券報告書－第77期(令和2年4月1日－令和3年3月31日) | S100LT7W | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LT7W,, |

## 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).