# SBI ARUHI Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第12期(2025/04/01－2026/03/31) (S100YFMO)
> Page: https://vizora.meequs.com/en/company/sbi-aruhi
> Retrieved: 2026-09-30T20:00:00.393Z

## Company

SBI Aruhi, founded in 2014, is a company in Consumer Finance listed on TSE Prime. It has 522 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SBI ARUHI Corporation |
| Ticker | 7198 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7198.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区平河町一丁目4番3号 |
| Representative (per filing) | 代表取締役社長CEO兼COO 伊久間 努 |
| Founded | May 2014 |
| Share capital | ¥3.47B |
| Employees (consolidated) | 522 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | March |
| Website | www.sbiaruhi-group.jp (https://www.sbiaruhi-group.jp/) |
| Corporate number | 1010001160717 |
| EDINET | E33625 |
| Industries (Vizora) | Consumer Finance |

> Profile source: annual securities report (S100YFMO, filed 2026-06-19). As of filing

## Key points (generated from figures)

- SBI Aruhi brought in ¥25.1B in revenue.
- Revenue changed +12.5% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥25.1B |  |
| Operating income | — | Margin — |
| Net income | ¥1.8B | Margin 7.2% |
| Free cash flow | — |  |
| Employees (consolidated) | 522 |  |
| EPS | ¥40.59 |  |
| Diluted EPS | ¥40.58 |  |
| Book value per share | ¥556.79 |  |
| Equity ratio | 18.4% | Derived from disclosed figures |
| Shares outstanding | 44,712,170 |  |
| Treasury shares | 259,800 |  |
| Shareholders | 22,668 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 10.4% | Cash ÷ revenue 95.3% |
| ROE | 4.3% | Derived from disclosed figures |
| ROA | 0.8% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥26821000000 | ¥25086000000 | -6.5% |
| Employees | 425 people | 522 people | +22.8% |
| Cash and equivalents | ¥37404000000 | ¥23912000000 | -36.1% |

### 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 | 25,086 | 100.0% | S100YFMO |
| SG&A | 14,567 | 58.1% | S100YFMO |
| Pretax income | 2,779 | 11.1% | S100YFMO |
| Income tax | 1,000 | 4.0% | S100YFMO |
| Net income | 1,779 | 7.1% | S100YFMO |
| Net income attributable to owners | 1,802 | 7.2% | S100YFMO |

Operating income is not available as a machine-readable numeric value for this company. See the income statement table in its filing.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 22,292 | 25,086 | 2,794 | +12.5% |
| Net income attributable to owners | 1,904 | 1,802 | -102 | -5.4% |
| Operating cash flow | -5,366 | -14,777 | -9,411 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 21,472 | — | — | 3,227 | 8,281 | — | S100LPL8 |
| FY ending Mar 2018 | 20,433 | — | — | 4,769 | 2,364 | — | S100OEH7 |
| FY ending Mar 2019 | 23,844 | — | — | 4,312 | -3,498 | — | S100R0XW |
| FY ending Mar 2020 | 26,202 | — | — | 4,972 | 7,407 | — | S100TPY7 |
| FY ending Mar 2021 | 26,821 | — | — | 5,177 | 4,750 | — | S100W2VW |
| FY ending Mar 2022 | 25,189 | — | — | 4,239 | 3,716 | — | S100YFMO |
| FY ending Mar 2023 | 22,601 | — | — | 2,821 | 1,495 | — | S100YFMO |
| FY ending Mar 2024 | 20,405 | — | — | 1,517 | -3,425 | — | S100YFMO |
| FY ending Mar 2025 | 22,292 | — | — | 1,904 | -5,366 | — | S100YFMO |
| FY ending Mar 2026 | 25,086 | — | — | 1,802 | -14,777 | — | S100YFMO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥48.1M |
| Net income per employee (consolidated) | ¥3.5M |

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) | 472 | 485 | 484 | 466 | 522 |
| Average salary (parent company) | ¥6.4M | ¥5.9M | ¥6M | ¥6.4M | ¥5.6M |
| Average age (parent company) | 38.9 years | 39.9 years | 40.8 years | 41.9 years | 42.9 years |
| Average tenure (parent company) | 5.2 years | 5.5 years | 6.4 years | 7.2 years | 6.4 years |

Year over year: Employees (consolidated) +12.0% · Revenue (consolidated) +12.5%

## 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 | -14,777 | -58.9% | S100YFMO |
| Investing cash flow | -1,274 | -5.1% | S100YFMO |
| Financing cash flow | 19,813 | 79.0% | S100YFMO |
| Dividends paid | 1,776 | 7.1% | S100YFMO |
| Change in cash | 3,762 | 15.0% | S100YFMO |
| Cash and equivalents | 23,912 | 95.3% | S100YFMO |

## 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 | 22,232 | 17,169 | 20,416 | 20,149 | 23,912 | S100TPY7, S100W2VW, S100YFMO |
| Total assets | 150,713 | 148,616 | 191,351 | 205,679 | 229,415 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Net assets | 31,877 | 32,735 | 41,953 | 42,151 | 42,237 | S100TPY7, S100W2VW, S100YFMO |
| Share capital | 3,471 | 3,471 | 3,471 | 3,471 | 3,471 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Property, plant and equipment | 1,563 | 1,209 | 2,806 | 3,987 | 5,122 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Goodwill | 24,464 | 24,464 | 24,464 | 24,464 | 24,464 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Total liabilities | 118,835 | 115,881 | 149,398 | 163,527 | 187,177 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Equity attributable to owners of parent | 31,889 | 32,765 | 42,012 | 42,003 | 42,112 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Retained earnings | 20,750 | 21,448 | 21,364 | 21,497 | 21,524 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |
| Treasury stock | -1,236 | -838 | -712 | -579 | -418 | S100R0XW, S100TPY7, S100W2VW, S100YFMO |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YFMO |
| Property, plant and equipment | 2% | S100YFMO |
| Intangibles and goodwill | 11% | — |
| Other assets | 77% | S100YFMO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 82% | S100YFMO |
| Equity | 18% | S100YFMO |
| Other liabilities | 0% | S100YFMO |

### 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 | 150,713 | 148,616 | 191,351 | 205,679 | 229,415 |
| Equity | 31,877 | 32,735 | 41,953 | 42,151 | 42,237 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 22,232 | 17,169 | 20,416 | 20,149 | 23,912 |

## 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) | 20.4% | S100YFMO |
| Fixed assets ÷ total assets | 2.2% | S100YFMO |
| Goodwill ÷ parent equity | 58.1% | S100YFMO |

Goodwill over 4 years: 24,464 → 24,464 JPY; total investing cash flow: -7,304 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) | 10.4% |
| Cash ÷ revenue | 95.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -16,579 JPY mn (of net income -920.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 98.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 16.8% | 0.17× | 2.8% | 4.73× | 13.3% | S100R0XW, S100YFMO |
| 2023 | 12.5% | 0.15× | 1.9% | 4.63× | 8.7% | S100TPY7, S100YFMO |
| 2024 | 7.4% | 0.12× | 0.9% | 4.55× | 4.1% | S100W2VW, S100YFMO |
| 2025 | 8.5% | 0.11× | 1.0% | 4.73× | 4.5% | S100YFMO |
| 2026 | 7.2% | 0.12× | 0.8% | 5.17× | 4.3% | S100YFMO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＳＢＩノンバンクホールディングス株式会社 | Major shareholder | 62.8% | 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 | 3.5% | 2026-03-31 |
| PERSHING SECURITIES LTD CLIENT SAFE CUSTODY ASSET ACCOUNT | Major shareholder | 1.6% | 2026-03-31 |
| 瀧口 浩平 | Major shareholder | 1.1% | 2026-03-31 |
| INTERACTIVE BROKERS LLC | Major shareholder | 0.7% | 2026-03-31 |
| 早川 直希 | Major shareholder | 0.4% | 2026-03-31 |
| 浜田 宏 | Major shareholder | 0.4% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 | Major shareholder | 0.4% | 2026-03-31 |
| MORGAN STANLEY & CO. LLC | Major shareholder | 0.4% | 2026-03-31 |
| ゴールドマン・サックス証券株式会社 ＢＮＹＭ | Major shareholder | 0.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第12期(2025/04/01－2026/03/31) | S100YFMO | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFMO,, |
| 有価証券報告書－第11期(2024/04/01－2025/03/31) | S100W2VW | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2VW,, |
| 有価証券報告書－第10期(2023/04/01－2024/03/31) | S100TPY7 | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPY7,, |
| 有価証券報告書－第9期(2022/04/01－2023/03/31) | S100R0XW | 2023-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0XW,, |
| 有価証券報告書－第8期(令和3年4月1日－令和4年3月31日) | S100OEH7 | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEH7,, |
| 有価証券報告書－第7期(令和2年4月1日－令和3年3月31日) | S100LPL8 | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPL8,, |

## 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).