# Property Data Bank,Inc.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第26期(2025/04/01－2026/03/31) (S100YHXO)
> Page: https://vizora.meequs.com/en/company/property-data-bank
> Retrieved: 2026-09-30T22:40:42.340Z

## Company

Property Data Bank, founded in 2000, is a company in Software & SaaS listed on TSE Growth. It has 76 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Property Data Bank,Inc. |
| Ticker | 4389 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4389.T) |
| Listing | TSE Growth |
| Head office | 東京都港区浜松町一丁目30番5号 |
| Representative (per filing) | 代表取締役社長 武野 貞久 |
| Founded | Oct 2000 |
| Share capital | ¥332.7M |
| Employees (consolidated) | 76 |
| Average salary (parent only) | ¥7.8M |
| Fiscal year end | March |
| Website | www.propertydbk.com (https://www.propertydbk.com/) |
| Corporate number | 7010401042534 |
| EDINET | E34090 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100YHXO, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 85.2 | 145 |
| Cash conversion | 12.1 | 128 |
| Efficiency | 38.3 | 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)

- Property Data Bank brought in ¥3.72B in revenue.
- Out of every ¥100 of sales, about ¥30 is left as operating profit.
- Revenue changed +12.1% from the prior year, operating profit +18.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥3721215000 → ¥716218000
- Net income → operating cash flow: ¥716218000 → ¥712208000（difference ¥-4010000）
- Main uses of operating cash flow: CapEx ¥276684000 / dividends ¥141154000 / buybacks ¥1193698000
- Change in cash: ¥-304608000
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 | ¥3.72B |  |
| Operating income | ¥1.11B | Margin 29.9% |
| Net income | ¥716.2M | Margin 19.2% |
| Free cash flow | ¥435.5M |  |
| Employees (consolidated) | 76 |  |
| EPS | ¥57.32 |  |
| Book value per share | ¥315.39 |  |
| Equity ratio | 71.4% |  |
| Shares outstanding | 11,865,000 |  |
| Treasury shares | 1,513,500 |  |
| Shareholders | 1,199 |  |
| Average salary (parent only) | ¥7.8M | Filing company only |
| Cash ratio | 51.1% | Cash ÷ revenue 63.6% |
| Vs. industry median margin | +17.5 pp | Software & SaaS |
| ROE | 20.0% | Derived from disclosed figures |
| ROA | 15.1% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 8.5× dividends
- FY2026, cash is 51% of total assets
- FY2026, operating income keeps 30 per ¥100 of revenue

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2165888000 | ¥3721215000 | — |
| Operating income | ¥504165000 | ¥1112437000 | — |
| Operating margin | 23.3% | 29.9% | +6.6 pp |
| Employees | 68 people | 76 people | — |
| Cash and equivalents | ¥1412280000 | ¥2365358000 | — |

### 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, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 3,721 | 100.0% | S100YHXO |
| Cost of revenue | 1,490 | 40.0% | S100YHXO |
| Gross profit | 2,231 | 60.0% | S100YHXO |
| SG&A | 1,119 | 30.1% | S100YHXO |
| Operating income | 1,112 | 29.9% | S100YHXO |
| Ordinary income | 1,127 | 30.3% | S100YHXO |
| Pretax income | 1,127 | 30.3% | S100YHXO |
| Income tax | 411 | 11.0% | S100YHXO |
| Net income | 716 | 19.2% | S100YHXO |
| Net income attributable to owners | 716 | 19.2% | S100YHXO |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 40 |
| SG&A | 30 |
| Operating income | 30 |
| (Ref.) Net income | 19 |

### Margin funnel

Gross margin 60.0% → Operating margin 29.9% → Net margin 19.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +12.1%; Core profit growth: +18.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.55×
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 | 3,320 | 3,721 | 401 | +12.1% |
| Gross profit | 1,981 | 2,231 | 250 | +12.6% |
| Operating income | 937 | 1,112 | 176 | +18.8% |
| Net income attributable to owners | 634 | 716 | 82 | +12.9% |
| Operating cash flow | 1,277 | 712 | -565 | -44.2% |
| Free cash flow | 942 | 436 | -506 | -53.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,844 | 318 | 17.3% | 217 | 287 | 54 | S100LR67 |
| FY ending Mar 2021 | 2,166 | 504 | 23.3% | 351 | 1,026 | 673 | S100OE7X |
| FY ending Mar 2022 | 2,250 | 649 | 28.9% | 449 | 412 | 163 | S100OE7X |
| FY ending Mar 2023 | 2,833 | 823 | 29.0% | 626 | 791 | 614 | S100TU4N |
| FY ending Mar 2024 | 2,516 | 434 | 17.3% | 298 | 665 | 184 | S100W8HU |
| FY ending Mar 2025 | 3,320 | 937 | 28.2% | 634 | 1,277 | 942 | S100YHXO |
| FY ending Mar 2026 | 3,721 | 1,112 | 29.9% | 716 | 712 | 436 | S100YHXO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥49M |
| Operating income per employee (consolidated) | ¥14.6M |
| Net income per employee (consolidated) | ¥9.4M |

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) | 55 | 80 | 77 | 82 | 76 |
| Average salary (parent company) | ¥7.1M | ¥7.2M | ¥7.7M | ¥7.5M | ¥7.8M |
| Average age (parent company) | 42.8 years | 41.5 years | 43.7 years | 43.5 years | 45.6 years |
| Average tenure (parent company) | 7.6 years | 7.1 years | 5.5 years | 5.6 years | 5.4 years |

Year over year: Employees (consolidated) -7.3% · Revenue (consolidated) +12.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 712 | 19.1% | S100YHXO |
| Capital expenditure | 277 | 7.4% | S100YHXO |
| Free cash flow | 436 | 11.7% | 算出 |
| Investing cash flow | -182 | -4.9% | S100YHXO |
| Financing cash flow | -835 | -22.4% | S100YHXO |
| Dividends paid | 141 | 3.8% | S100YHXO |
| Share buyback | 1,194 | 32.1% | S100YHXO |
| Change in cash | -305 | -8.2% | S100YHXO |
| Cash and equivalents | 2,365 | 63.6% | S100YHXO |

## 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 | 1,388 | 1,911 | 1,870 | 2,670 | 2,365 | S100OE7X, S100W8HU, S100YHXO |
| Total assets | 3,192 | 3,969 | 3,896 | 4,837 | 4,629 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Net assets | 2,498 | 3,060 | 3,298 | 3,849 | 3,306 | S100OE7X, S100W8HU, S100YHXO |
| Share capital | 333 | 333 | 333 | 333 | 333 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Property, plant and equipment | 66 | 183 | 175 | 201 | 198 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Intangible assets excluding goodwill | 490 | 386 | 847 | 796 | 744 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Goodwill | — | — | 180 | 144 | 108 | S100W8HU, S100YHXO |
| Investment securities | 13 | 25 | 35 | 30 | 26 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Current assets | 2,047 | 2,734 | 2,337 | 3,258 | 3,227 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Current liabilities | 495 | 620 | 380 | 856 | 802 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Long-term borrowings | — | — | — | — | 400 | S100YHXO |
| Total liabilities | 695 | 910 | 598 | 988 | 1,323 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Non-controlling interests | — | 11 | — | — | — | S100TU4N |
| Equity attributable to owners of parent | 2,498 | 3,048 | 3,290 | 3,849 | 3,306 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Retained earnings | 1,993 | 2,524 | 2,707 | 3,224 | 3,799 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |
| Treasury stock | -121 | -114 | -75 | -49 | -1,200 | S100OE7X, S100TU4N, S100W8HU, S100YHXO |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 51% | S100YHXO |
| Property, plant and equipment | 4% | S100YHXO |
| Intangibles and goodwill | 18% | S100YHXO |
| Investment securities | 1% | S100YHXO |
| Other assets | 26% | S100YHXO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 29% | S100YHXO |
| Equity | 71% | S100YHXO |

### 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 | 3,192 | 3,969 | 3,896 | 4,837 | 4,629 |
| Equity | 2,498 | 3,060 | 3,298 | 3,849 | 3,306 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,388 | 1,911 | 1,870 | 2,670 | 2,365 |

## 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) | 5.3% | S100YHXO |
| Fixed assets ÷ total assets | 4.3% | S100YHXO |
| Goodwill ÷ parent equity | 3.3% | S100YHXO |

### 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) | 51.1% |
| Cash ÷ revenue | 63.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 64.0% |
| Cash vs. profit gap | -4 JPY mn (of net income -0.6%) |
| Shareholder returns / net income | 186.4% |
| Shareholder returns / FCF | 306.5% |
| Shareholder payments — dividends / net income | 19.7% |
| Shareholder payments — dividends / FCF | 32.4% |
| CapEx intensity (capex ÷ revenue) | 7.4% |
| Investing CF relative to operating CF | 25.5% |

## 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 | 20.0% | 0.70× | 14.1% | 1.28× | 18.0% | S100OE7X |
| 2023 | 22.1% | 0.71× | 15.8% | 1.30× | 20.6% | S100TU4N |
| 2024 | 11.9% | 0.64× | 7.6% | 1.24× | 9.4% | S100W8HU |
| 2025 | 19.1% | 0.76× | 14.5% | 1.22× | 17.8% | S100YHXO |
| 2026 | 19.2% | 0.79× | 15.1% | 1.32× | 20.0% | S100YHXO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 清水建設株式会社 | Major shareholder | 27.3% | 2026-03-31 |
| 板谷 敏正 | Major shareholder | 10.7% | 2026-03-31 |
| ＵＨＰａｒｔｎｅｒｓ２投資事業有限責任組合 | Major shareholder | 7.4% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 7.4% | 2026-03-31 |
| 高橋 秀樹 | Major shareholder | 7.3% | 2026-03-31 |
| ＬＩＣＨＦＩＥＬＤ ＬＰ （常任代理人 三菱ＵＦＪ銀行） | Major shareholder | 5.7% | 2026-03-31 |
| ＴＡＫＵＭＩ ＣＡＰＩＴＡＬ ＭＡＮＡＧＥＭＥＮＴ ＭＡＳＴＥＲ ＦＵＮＤ ＬＰ （常任代理人 香港上海銀行東京支店） | Major shareholder | 4.4% | 2026-03-31 |
| 寺田 英司 | Major shareholder | 2.9% | 2026-03-31 |
| 武野 貞久 | Major shareholder | 2.4% | 2026-03-31 |
| THE BANK OF NEW YORK 133595（常任代理人 みずほ銀行） | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第26期(2025/04/01－2026/03/31) | S100YHXO | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHXO,, |
| 有価証券報告書－第25期(2024/04/01－2025/03/31) | S100W8HU | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8HU,, |
| 有価証券報告書－第24期(2023/04/01－2024/03/31) | S100TU4N | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TU4N,, |
| 有価証券報告書－第23期(2022/04/01－2023/03/31) | S100R324 | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R324,, |
| 有価証券報告書－第22期(令和3年4月1日－令和4年3月31日) | S100OE7X | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OE7X,, |
| 有価証券報告書－第21期(令和2年4月1日－令和3年3月31日) | S100LR67 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LR67,, |

## 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).