# SIGMAXYZ Holdings 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18期(2025/04/01－2026/03/31) (S100YG2R)
> Page: https://vizora.meequs.com/en/company/sigmaxyz-holdings
> Retrieved: 2026-09-30T22:48:26.856Z

## Company

SIGMAXYZ Holdings, founded in 2019, is a company in Consulting listed on TSE Prime. It has 800 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SIGMAXYZ Holdings Inc. |
| Ticker | 6088 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6088.T) |
| Listing | TSE Prime |
| Head office | 東京都港区虎ノ門四丁目1番28号 |
| Representative (per filing) | 代表取締役社長 太田 寛 |
| Founded | Feb 2019 |
| Share capital | ¥3B |
| Employees (consolidated) | 800 |
| Average salary (parent only) | ¥10.3M |
| Fiscal year end | March |
| Website | www.sigmaxyz.com (https://www.sigmaxyz.com/) |
| Corporate number | 6010401075873 |
| EDINET | E30130 |
| Industries (Vizora) | Consulting |

> Profile source: annual securities report (S100YG2R, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Consulting (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 46.8 | 31 |
| Profitability | 85.2 | 44 |
| Cash conversion | 21.6 | 44 |
| Efficiency | 60.2 | 44 |

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)

- SIGMAXYZ Holdings brought in ¥23.8B in revenue.
- Out of every ¥100 of sales, about ¥25 is left as operating profit.
- Revenue changed -9.4% from the prior year, operating profit +7.6%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥23831005000 → ¥3971882000
- Net income → operating cash flow: ¥3971882000 → ¥3304026000（difference ¥-667856000）
- Main uses of operating cash flow: CapEx ¥474534000 / dividends ¥1788967000 / buybacks ¥2609362000
- Change in cash: ¥-1805391000
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 | ¥23.8B |  |
| Operating income | ¥6.06B | Margin 25.4% |
| Net income | ¥3.97B | Margin 16.7% |
| Free cash flow | ¥2.83B |  |
| Employees (consolidated) | 800 |  |
| EPS | ¥53.47 |  |
| Book value per share | ¥137.4 |  |
| Equity ratio | 83.6% |  |
| Shares outstanding | 86,000,000 |  |
| Treasury shares | 3,432,100 |  |
| Shareholders | 11,959 |  |
| Average salary (parent only) | ¥10.3M | Filing company only |
| Cash ratio | 30.1% | Cash ÷ revenue 21.6% |
| Vs. industry median margin | +15.9 pp | Consulting |
| ROE | 27.7% | Derived from disclosed figures |
| ROA | 21.6% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.5× dividends
- FY2026, operating income keeps 25 per ¥100 of revenue
- FY2026, cash is 30% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥14024337000 | ¥23831005000 | +69.9% |
| Operating income | ¥1747987000 | ¥6064914000 | +247.0% |
| Operating margin | 12.5% | 25.4% | +13 pp |
| Employees | 554 people | 800 people | +44.4% |
| Cash and equivalents | ¥5275769000 | ¥5140119000 | -2.6% |

### 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 | 23,831 | 100.0% | S100YG2R |
| Cost of revenue | 12,048 | 50.6% | S100YG2R |
| Gross profit | 11,783 | 49.4% | S100YG2R |
| SG&A | 5,718 | 24.0% | S100YG2R |
| Operating income | 6,065 | 25.4% | S100YG2R |
| Ordinary income | 6,351 | 26.7% | S100YG2R |
| Pretax income | 5,774 | 24.2% | S100YG2R |
| Income tax | 1,802 | 7.6% | S100YG2R |
| Net income | 3,972 | 16.7% | S100YG2R |
| Net income attributable to owners | 3,972 | 16.7% | S100YG2R |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 24 |
| Operating income | 25 |
| (Ref.) Net income | 17 |

### Margin funnel

Gross margin 49.4% → Operating margin 25.4% → Net margin 16.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -9.4%; Core profit growth: +7.6%
Operating leverage (core profit growth ÷ revenue growth): -0.81×
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 | 26,294 | 23,831 | -2,463 | -9.4% |
| Gross profit | 11,732 | 11,783 | 52 | +0.4% |
| Operating income | 5,639 | 6,065 | 426 | +7.6% |
| Net income attributable to owners | 4,395 | 3,972 | -423 | -9.6% |
| Operating cash flow | 5,390 | 3,304 | -2,086 | -38.7% |
| Free cash flow | 4,946 | 2,829 | -2,117 | -42.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 16,003 | 2,212 | 13.8% | 1,407 | 2,336 | 2,187 | S100LLC7 |
| FY ending Mar 2021 | 14,024 | 1,748 | 12.5% | 1,210 | 1,598 | 1,411 | S100QIPR |
| FY ending Mar 2022 | 15,654 | 2,760 | 17.6% | 1,664 | 2,506 | 2,238 | S100R7TL |
| FY ending Mar 2023 | 17,334 | 3,235 | 18.7% | 2,204 | 2,085 | 1,945 | S100TTW9 |
| FY ending Mar 2024 | 22,411 | 4,233 | 18.9% | 3,232 | 3,119 | 3,031 | S100W25S |
| FY ending Mar 2025 | 26,294 | 5,639 | 21.4% | 4,395 | 5,390 | 4,946 | S100YG2R |
| FY ending Mar 2026 | 23,831 | 6,065 | 25.4% | 3,972 | 3,304 | 2,829 | S100YG2R |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥29.8M |
| Operating income per employee (consolidated) | ¥7.6M |
| Net income per employee (consolidated) | ¥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) | 560 | 595 | 665 | 730 | 800 |
| Average salary (parent company) | ¥10.9M | ¥10M | ¥11.3M | ¥12.1M | ¥10.3M |
| Average age (parent company) | 44.7 years | 45.1 years | 45.9 years | 45.4 years | 45.4 years |
| Average tenure (parent company) | 7.7 years | 8.2 years | 9.2 years | 8.9 years | 8.8 years |

Year over year: Employees (consolidated) +9.6% · Revenue (consolidated) -9.4%

## 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 | 3,304 | 13.9% | S100YG2R |
| Capital expenditure | 475 | 2.0% | S100YG2R |
| Free cash flow | 2,829 | 11.9% | 算出 |
| Investing cash flow | -707 | -3.0% | S100YG2R |
| Financing cash flow | -4,404 | -18.5% | S100YG2R |
| Dividends paid | 1,789 | 7.5% | S100YG2R |
| Share buyback | 2,609 | 10.9% | S100YG2R |
| Change in cash | -1,805 | -7.6% | S100YG2R |
| Cash and equivalents | 5,140 | 21.6% | S100YG2R |

## 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 | 7,722 | 7,094 | 7,171 | 6,946 | 5,140 | S100TTW9, S100W25S, S100YG2R |
| Total assets | 14,657 | 14,462 | 18,296 | 19,741 | 17,069 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Net assets | 10,303 | 10,878 | 13,194 | 14,272 | 14,263 | S100TTW9, S100W25S, S100YG2R |
| Share capital | 4,627 | 3,000 | 3,000 | 3,000 | 3,000 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Property, plant and equipment | 286 | 253 | 303 | 575 | 829 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Intangible assets excluding goodwill | 504 | 443 | 370 | 325 | 293 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Investment securities | 852 | 798 | 1,831 | 3,025 | 5,974 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Current assets | 12,147 | 12,014 | 14,464 | 14,074 | 8,429 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Current liabilities | 2,765 | 1,978 | 3,913 | 4,781 | 2,384 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Total liabilities | 4,354 | 3,583 | 5,102 | 5,469 | 2,807 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Equity attributable to owners of parent | 10,294 | 10,558 | 12,964 | 14,239 | 14,435 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Retained earnings | 5,149 | 6,762 | 9,283 | 12,487 | 13,457 | S100R7TL, S100TTW9, S100W25S, S100YG2R |
| Treasury stock | -2,629 | -3,973 | -2,471 | -3,764 | -3,272 | S100R7TL, S100TTW9, S100W25S, S100YG2R |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100YG2R |
| Property, plant and equipment | 5% | S100YG2R |
| Intangibles and goodwill | 2% | S100YG2R |
| Investment securities | 35% | S100YG2R |
| Other assets | 28% | S100YG2R |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 16% | S100YG2R |
| Equity | 84% | S100YG2R |
| Other liabilities | 0% | S100YG2R |

### 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 | 14,657 | 14,462 | 18,296 | 19,741 | 17,069 |
| Equity | 10,303 | 10,878 | 13,194 | 14,272 | 14,263 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,722 | 7,094 | 7,171 | 6,946 | 5,140 |

## 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) | 3.5% | S100YG2R |
| Fixed assets ÷ total assets | 4.9% | S100YG2R |
| Goodwill ÷ parent equity | — | —, S100YG2R |

### 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) | 30.1% |
| Cash ÷ revenue | 21.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 54.5% |
| Cash vs. profit gap | -668 JPY mn (of net income -16.8%) |
| Shareholder returns / net income | 110.7% |
| Shareholder returns / FCF | 155.4% |
| Shareholder payments — dividends / net income | 45.0% |
| Shareholder payments — dividends / FCF | 63.2% |
| CapEx intensity (capex ÷ revenue) | 2.0% |
| Investing CF relative to operating CF | 21.4% |

## 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 | 10.6% | 1.07× | 11.4% | 1.42× | 16.2% | S100R7TL |
| 2023 | 12.7% | 1.19× | 15.1% | 1.40× | 21.1% | S100TTW9 |
| 2024 | 14.4% | 1.37× | 19.7% | 1.39× | 27.5% | S100W25S |
| 2025 | 16.7% | 1.38× | 23.1% | 1.40× | 32.3% | S100YG2R |
| 2026 | 16.7% | 1.29× | 21.6% | 1.28× | 27.7% | S100YG2R |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 伊藤忠商事株式会社 | Major shareholder | 9.9% | 2026-03-31 |
| 株式会社インターネットイニシアティブ | Major shareholder | 9.6% | 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 | 9.1% | 2026-03-31 |
| 株式会社インテック | Major shareholder | 8.0% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 7.8% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505301 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.5% | 2026-03-31 |
| BNP PARIBAS LUXEMBOURG/2S/ JASDEC/FIM/LUXEMBOURG FUNDS/ UCITS ASSETS （常任代理人 香港上海銀行東京支店） | Major shareholder | 2.5% | 2026-03-31 |
| NORTHERN TRUST CO.(AVFC) RE IEDU UCITS CLIENTS NON LENDING 15 PCT TREATY ACCOUNT （常任代理人 香港上海銀行東京支店） | Major shareholder | 2.4% | 2026-03-31 |
| シグマクシス従業員持株会 | Major shareholder | 2.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505025 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第18期(2025/04/01－2026/03/31) | S100YG2R | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG2R,, |
| 有価証券報告書－第17期(2024/04/01－2025/03/31) | S100W25S | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W25S,, |
| 有価証券報告書－第16期(2023/04/01－2024/03/31) | S100TTW9 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTW9,, |
| 有価証券報告書－第15期(2022/04/01－2023/03/31) | S100R7TL | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7TL,, |
| 訂正有価証券報告書－第14期(2021/04/01－2022/03/31) | S100QIPR | 2023-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QIPR,, |
| 有価証券報告書－第13期(令和2年4月1日－令和3年3月31日) | S100LLC7 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLC7,, |

## 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).