# SILVER LIFE CO., LTD.: business model and financials

> Latest period: FY ending Jul 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第18期(2024/08/01－2025/07/31) (S100WWED)
> Page: https://vizora.meequs.com/en/company/silver-life
> Retrieved: 2026-09-30T21:36:15.202Z

## Company

Silver Life, founded in 2007, is a company in Takeout & Delivery Meals listed on TSE Standard. It has 336 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SILVER LIFE CO., LTD. |
| Ticker | 9262 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9262.T) |
| Listing | TSE Standard |
| Head office | 東京都新宿区西新宿四丁目32番4号 |
| Representative (per filing) | 代表取締役社長 清水 貴久 |
| Founded | Oct 2007 |
| Share capital | ¥735.7M |
| Employees (consolidated) | 336 |
| Average salary (parent only) | ¥5.3M |
| Fiscal year end | July |
| Website | www.silver-life.co.jp (https://www.silver-life.co.jp/) |
| Corporate number | 7010901028669 |
| EDINET | E33282 |
| Industries (Vizora) | Takeout & Delivery Meals |

> Profile source: annual securities report (S100WWED, filed 2025-10-24). As of filing

## Five-axis industry profile

Primary industry: Takeout & Delivery Meals (2025-07-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 70 | 15 |
| Profitability | 96.9 | 16 |
| Cash conversion | 82.1 | 14 |
| Efficiency | 46.9 | 16 |

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)

- Silver Life brought in ¥14.9B in revenue.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +10.1% from the prior year, operating profit +10.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥14918337000 → ¥702580000
- Net income → operating cash flow: ¥702580000 → ¥1519421000（difference ¥816841000）
- Main uses of operating cash flow: CapEx ¥1004393000 / dividends ¥161899000 / buybacks —
- Change in cash: ¥333779000
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 | ¥14.9B |  |
| Operating income | ¥850.4M | Margin 5.7% |
| Net income | ¥702.6M | Margin 4.7% |
| Free cash flow | ¥515M |  |
| Employees (consolidated) | 336 |  |
| EPS | ¥64.64 |  |
| Diluted EPS | ¥64.24 |  |
| Book value per share | ¥639.22 |  |
| Equity ratio | 66.7% |  |
| Shares outstanding | 10,907,600 |  |
| Treasury shares | 400 |  |
| Shareholders | 7,235 |  |
| Average salary (parent only) | ¥5.3M | Filing company only |
| Cash ratio | 15.3% | Cash ÷ revenue 10.7% |
| Vs. industry median margin | +2.5 pp | Takeout & Delivery Meals |
| ROE | 10.5% | Derived from disclosed figures |
| ROA | 6.9% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 2.2× net income

## What changed in 5 years

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8832415000 | ¥14918337000 | +68.9% |
| Operating income | ¥934511000 | ¥850439000 | -9.0% |
| Operating margin | 10.6% | 5.7% | -4.9 pp |
| Employees | 101 people | 336 people | +232.7% |
| Cash and equivalents | ¥1847192000 | ¥1598872000 | -13.4% |

### Change in segment revenue mix

Span: FY ending Jul 2020 → FY ending Jul 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Jul 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 14,918 | 100.0% | S100WWED |
| Cost of revenue | 9,877 | 66.2% | S100WWED |
| Gross profit | 5,041 | 33.8% | S100WWED |
| SG&A | 4,191 | 28.1% | S100WWED |
| Operating income | 850 | 5.7% | S100WWED |
| Ordinary income | 1,015 | 6.8% | S100WWED |
| Pretax income | 1,005 | 6.7% | S100WWED |
| Income tax | 303 | 2.0% | S100WWED |
| Net income | 703 | 4.7% | S100WWED |

## Per ¥100 of revenue（FY ending Jul 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 28 |
| Operating income | 6 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 33.8% → Operating margin 5.7% → Net margin 4.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.1%; Core profit growth: +10.7%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 1.06×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jul 2024 → FY ending Jul 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 13,555 | 14,918 | 1,363 | +10.1% |
| Gross profit | 4,365 | 5,041 | 676 | +15.5% |
| Operating income | 768 | 850 | 82 | +10.7% |
| Operating cash flow | 1,315 | 1,519 | 204 | +15.5% |
| Free cash flow | 152 | 515 | 363 | +238.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 7,801 | 885 | 11.3% | 636 | 907 | 570 | S100JZCR |
| FY ending Jul 2020 | 8,832 | 935 | 10.6% | 679 | 679 | -428 | S100MNY5 |
| FY ending Jul 2021 | 10,050 | 840 | 8.4% | 546 | 369 | -2,334 | S100PDAG |
| FY ending Jul 2022 | 11,216 | 562 | 5.0% | 402 | 1,210 | -330 | S100S286 |
| FY ending Jul 2023 | 12,267 | 670 | 5.5% | 603 | 1,201 | 243 | S100UKAO |
| FY ending Jul 2024 | 13,555 | 768 | 5.7% | 668 | 1,315 | 152 | S100WWED |
| FY ending Jul 2025 | 14,918 | 850 | 5.7% | 703 | 1,519 | 515 | S100WWED |

## People and productivity（FY ending Jul 2025, non-consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥44.4M |
| Operating income per employee (consolidated) | ¥2.5M |
| Net income per employee (consolidated) | ¥2.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 128 | 173 | 232 | 305 | 336 |
| Average salary (parent company) | ¥4.6M | ¥3.8M | ¥4.6M | ¥4.8M | ¥5.3M |
| Average age (parent company) | 34.2 years | 33.7 years | 32.9 years | 33.9 years | 34.8 years |
| Average tenure (parent company) | 3.4 years | 3.2 years | 2.8 years | 2.8 years | 2.7 years |

Year over year: Employees (consolidated) +10.2% · Revenue (consolidated) +10.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jul 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,519 | 10.2% | S100WWED |
| Capital expenditure | 1,004 | 6.7% | S100WWED |
| Free cash flow | 515 | 3.5% | 算出 |
| Investing cash flow | -1,000 | -6.7% | S100WWED |
| Financing cash flow | -186 | -1.2% | S100WWED |
| Dividends paid | 162 | 1.1% | S100WWED |
| Change in cash | 334 | 2.2% | S100WWED |
| Cash and equivalents | 1,599 | 10.7% | S100WWED |

## 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 Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,472 | 1,475 | 1,508 | 1,265 | 1,599 | S100S286, S100UKAO, S100WWED |
| Total assets | 8,262 | 8,860 | 9,562 | 9,875 | 10,453 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Net assets | 4,926 | 5,304 | 5,916 | 6,424 | 6,972 | S100S286, S100UKAO, S100WWED |
| Share capital | 724 | 726 | 730 | 731 | 736 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Property, plant and equipment | 4,462 | 5,089 | 5,359 | 5,709 | 5,811 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Intangible assets excluding goodwill | 281 | 329 | 400 | 357 | 310 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Current assets | 3,336 | 3,233 | 3,579 | 3,586 | 4,105 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Current liabilities | 1,402 | 1,408 | 1,753 | 1,819 | 1,988 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Long-term borrowings | 1,763 | 1,951 | 1,712 | 1,473 | 1,342 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Total liabilities | 3,336 | 3,555 | 3,646 | 3,451 | 3,481 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Equity attributable to owners of parent | 4,926 | 5,304 | 5,916 | 6,424 | 6,972 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Retained earnings | 3,489 | 3,864 | 4,467 | 4,972 | 5,512 | S100PDAG, S100S286, S100UKAO, S100WWED |
| Treasury stock | -1 | -1 | -1 | -1 | -1 | S100PDAG, S100S286, S100UKAO, S100WWED |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 15% | S100WWED |
| Property, plant and equipment | 56% | S100WWED |
| Intangibles and goodwill | 3% | S100WWED |
| Other assets | 26% | S100WWED |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 33% | S100WWED |
| Equity | 67% | S100WWED |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 8,262 | 8,860 | 9,562 | 9,875 | 10,453 |
| Equity | 4,926 | 5,304 | 5,916 | 6,424 | 6,972 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,472 | 1,475 | 1,508 | 1,265 | 1,599 |

## 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) | 39.0% | S100WWED |
| Fixed assets ÷ total assets | 55.6% | S100WWED |
| Goodwill ÷ parent equity | — | —, S100WWED |

### 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) | 15.3% |
| Cash ÷ revenue | 10.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 178.7% |
| Cash vs. profit gap | 817 JPY mn (of net income 116.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 23.0% |
| Shareholder payments — dividends / FCF | 31.4% |
| CapEx intensity (capex ÷ revenue) | 6.7% |
| Investing CF relative to operating CF | 65.8% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 5.4% | 1.22× | 6.6% | 1.68× | 11.1% | S100PDAG |
| 2022 | 3.6% | 1.31× | 4.7% | 1.67× | 7.9% | S100S286 |
| 2023 | 4.9% | 1.33× | 6.5% | 1.64× | 10.7% | S100UKAO |
| 2024 | 4.9% | 1.39× | 6.9% | 1.58× | 10.8% | S100WWED |
| 2025 | 4.7% | 1.47× | 6.9% | 1.52× | 10.5% | S100WWED |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社近江屋 | Major shareholder | 36.7% | 2025-07-31 |
| 清水 貴久 | Major shareholder | 18.1% | 2025-07-31 |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 6.4% | 2025-07-31 |
| 中村 剛 | Major shareholder | 2.5% | 2025-07-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.1% | 2025-07-31 |
| 上田八木短資株式会社 | Major shareholder | 0.7% | 2025-07-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 0.7% | 2025-07-31 |
| 山本 治之 | Major shareholder | 0.3% | 2025-07-31 |
| 楽天証券株式会社 | Major shareholder | 0.3% | 2025-07-31 |
| 藪下 力哉 | Major shareholder | 0.3% | 2025-07-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第18期(2024/08/01－2025/07/31) | S100WWED | 2025-10-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WWED,, |
| 有価証券報告書－第17期(2023/08/01－2024/07/31) | S100UKAO | 2024-10-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UKAO,, |
| 有価証券報告書－第16期(2022/08/01－2023/07/31) | S100S286 | 2023-10-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S286,, |
| 有価証券報告書－第15期(令和3年8月1日－令和4年7月31日) | S100PDAG | 2022-10-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PDAG,, |
| 有価証券報告書－第14期(令和2年8月1日－令和3年7月31日) | S100MNY5 | 2021-10-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MNY5,, |
| 有価証券報告書－第13期(令和1年8月1日－令和2年7月31日) | S100JZCR | 2020-10-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JZCR,, |

## 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).