Sapeet269A東証グロース情報・通信業FY ending Sep 2025, non-consolidated, J-GAAP

Sapeet revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +56.9% from the prior year, and it swung back to an operating profit.

Five-year trend

Revenue¥996.3M
FY ending Sep 2023: ¥421.2M¥421.2MFY ending Sep 2024: ¥634.9M¥634.9MFY ending Sep 2025: ¥996.3M¥996.3MFY23FY24FY25
Operating income¥55.2M
FY ending Sep 2023: -¥147.8M-¥147.8MFY ending Sep 2024: -¥19.1M-¥19.1MFY ending Sep 2025: ¥55.2M¥55.2MFY23FY24FY25
Operating margin5.5%
FY ending Sep 2023: -35.1%-35.1%FY ending Sep 2024: -3.0%-3.0%FY ending Sep 2025: 5.5%5.5%FY23FY24FY25

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin7.1%
Asset turnover1.90×
ROA13.4%
ROA13.4%
Financial leverage1.58×
ROE21.2%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin7.1%
2025: 7.1%7.1%232425
Asset turnover1.90×
2025: 1.90×1.90×232425
ROA13.4%
2023: -55.5%-55.5%2024: -8.1%-8.1%2025: 13.4%13.4%232425
Financial leverage1.58×
2025: 1.58×1.58×232425
ROE21.2%
2025: 21.2%21.2%232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
2023——×-55.5%—×—
2024——×-8.1%—×—
20257.1%1.90×13.4%1.58×21.2%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue2.1%
2023: 1.6%1.6%2024: 2.4%2.4%2025: 2.1%2.1%232425
PPE ÷ total assets3.5%
2023: 2.5%2.5%2024: 3.4%3.4%2025: 3.5%3.5%232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥19.8M
2024: ¥19.3M¥19.3M2025: ¥19.8M¥19.8M232425
R&D / revenue2.0%
2024: 3.0%3.0%2025: 2.0%2.0%232425

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Revenue421635996
Cost of revenue135253495
Gross profit287382501
SG&A434401446
Operating income-148-1955
Pretax income-147-2942
Income tax01-28
Net income attributable to owners-147-2971
Operating margin-35.1%-3.0%5.5%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 36%
3%
Intangibles and goodwill 25%
Other assets 36%

Funding

Other liabilities 17%
Equity 83%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Cash and equivalents¥156.4M¥220.2M¥213.3M
Total assets¥265.4M¥452M¥597.7M
Net assets-¥252.9M¥167.8M¥498.3M
Share capital¥8M¥232.9M¥10M
Property, plant and equipment¥6.7M¥15.3M¥20.9M
Intangible assets excluding goodwill—¥82M¥146.9M
Current assets¥233.7M¥330.4M¥377.6M
Current liabilities¥518.3M¥284.3M¥99.4M
Short-term borrowings—¥200M—
Total liabilities¥518.3M¥284.3M¥99.4M
Equity attributable to owners of parent-¥253M¥167.7M¥498.2M
Retained earnings-¥268.5M-¥297.5M-¥227M

Sources

Show source documents (2)
  • EDINET (FSA Japan)

    有価証券報告書-第10期(2024/10/01-2025/09/30)

    ID S100XBWT2025-12-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第9期(2023/10/01-2024/09/30)

    ID S100UZO52024-12-23Open

Extracted from XBRL: 40 / Derived from other figures: 1

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