# Solvvy Inc.: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第18期(2025/07/01－2026/06/30) (S100Z3SN)
> Page: https://vizora.meequs.com/en/company/solvvy
> Retrieved: 2026-09-30T19:05:55.440Z

## Company

Solvvy, founded in 2009, is a company in Non-life Insurance listed on TSE Growth. It has 324 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Solvvy Inc. |
| Ticker | 7320 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7320.T) |
| Listing | TSE Growth |
| Head office | 東京都新宿区西新宿四丁目33番4号 |
| Representative (per filing) | 代表取締役社長 安達 慶高 |
| Founded | Mar 2009 |
| Share capital | ¥212.3M |
| Employees (consolidated) | 324 |
| Average salary (parent only) | ¥5.5M |
| Fiscal year end | June |
| Website | solvvy.co.jp (https://solvvy.co.jp/) |
| Corporate number | 9011001061773 |
| EDINET | E33854 |
| Industries (Vizora) | Non-life Insurance, Cashless Payments |

> Profile source: annual securities report (S100Z3SN, filed 2026-09-24). As of filing

## Key points (generated from figures)

- About 57% of Solvvy's sales come from HomeworthTech business, with ExtendTech business and LifeTech business making up much of the rest.
- Out of every ¥100 of sales, about ¥24 is left as operating profit.
- Revenue changed +14.5% from the prior year, operating profit +14.8%.

## Company structure

- Segment revenue mix: HomeworthTech business 57.3%、ExtendTech business 34.2%、LifeTech business 8.1%、FinTech business 0.4%
- Revenue → net income: ¥7679206000 → ¥1743715000
- Net income → operating cash flow: ¥1743715000 → ¥1673966000（difference ¥-69749000）
- Main uses of operating cash flow: CapEx ¥384733000 / dividends ¥273639000 / buybacks ¥688454000
- Change in cash: ¥186794000
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 | ¥7.68B |  |
| Operating income | ¥1.86B | Margin 24.2% |
| Net income | ¥1.74B | Margin 22.7% |
| Free cash flow | ¥1.29B |  |
| Largest business | HomeworthTech business | of segment revenue 57.3% |
| Employees (consolidated) | 324 |  |
| EPS | ¥131.9 |  |
| Book value per share | ¥413.41 |  |
| Equity ratio | 16.0% |  |
| Shares outstanding | 11,997,254 |  |
| Treasury shares | 920,000 |  |
| Shareholders | 2,511 |  |
| Average salary (parent only) | ¥5.5M | Filing company only |
| Cash ratio | 10.5% | Cash ÷ revenue 46.9% |
| Vs. industry median margin | +14.9 pp | Non-life Insurance |
| ROE | 38.0% | Derived from disclosed figures |
| ROA | 5.4% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.5× dividends
- FY2026, revenue is 2.3× its level five years ago
- FY2026, employees -3% while operating income rose 15%

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2624926000 | ¥7679206000 | +192.5% |
| Operating income | ¥381886000 | ¥1860407000 | +387.2% |
| Operating margin | 14.5% | 24.2% | +9.7 pp |
| Employees | 103 people | 324 people | +214.6% |
| Cash and equivalents | ¥5172788000 | ¥3600742000 | -30.4% |

### Change in segment revenue mix

Span: FY ending Jun 2021 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| おうちのトータルメンテナンス事業 → 事業再編・廃止 | 64.0% |
| BPO事業 → 事業再編・廃止 | 31.4% |
| その他 → 事業再編・廃止 | 4.6% |
| 新設・再編 → HomeworthTech事業 | 57.3% |
| 新設・再編 → ExtendTech事業 | 34.2% |
| 新設・再編 → LifeTech事業 | 8.1% |
| 新設・再編 → FinTech事業その他 | 0.4% |

Segment revenue source references: 7 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| HomeworthTech business | 4 years | +23.0% | ¥4399619000 | 42.8% | 2 |
| ExtendTech business | 4 years | +20.5% | ¥2626786000 | 69.8% | 2 |
| LifeTech business | — | — | ¥620888000 | 27.8% | 2 |
| FinTech business | 2 years | -29.5% | ¥31912000 | 34.2% | 2 |

## Income statement（FY ending Jun 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 7,679 | 100.0% | S100Z3SN |
| Cost of revenue | 2,030 | 26.4% | S100Z3SN |
| Gross profit | 5,650 | 73.6% | S100Z3SN |
| SG&A | 3,789 | 49.3% | S100Z3SN |
| Operating income | 1,860 | 24.2% | S100Z3SN |
| Ordinary income | 2,552 | 33.2% | S100Z3SN |
| Pretax income | 2,476 | 32.2% | S100Z3SN |
| Income tax | 732 | 9.5% | S100Z3SN |
| Net income | 1,744 | 22.7% | S100Z3SN |
| Net income attributable to owners | 1,744 | 22.7% | S100Z3SN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 27 |
| SG&A | 49 |
| Operating income | 24 |
| (Ref.) Net income | 23 |

### Margin funnel

Gross margin 73.6% → Operating margin 24.2% → Net margin 22.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +14.5%; Core profit growth: +14.8%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 1.02×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 6,706 | 7,679 | 973 | +14.5% |
| Gross profit | 4,808 | 5,650 | 842 | +17.5% |
| Operating income | 1,620 | 1,860 | 240 | +14.8% |
| Net income attributable to owners | -628 | 1,744 | 2,372 | — |
| Operating cash flow | 2,100 | 1,674 | -426 | -20.3% |
| Free cash flow | 1,717 | 1,289 | -427 | -24.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 1,955 | 205 | 10.5% | 187 | 573 | 477 | S100MI48 |
| FY ending Jun 2021 | 2,625 | 382 | 14.5% | 243 | 5,120 | 4,806 | S100PA7L |
| FY ending Jun 2022 | 3,305 | 650 | 19.7% | 546 | 293 | -482 | S100RWSM |
| FY ending Jun 2023 | 3,920 | 742 | 18.9% | 751 | 1,862 | 1,627 | S100UF86 |
| FY ending Jun 2024 | 5,359 | 1,240 | 23.1% | 973 | 922 | 540 | S100WSFJ |
| FY ending Jun 2025 | 6,706 | 1,620 | 24.2% | -628 | 2,100 | 1,717 | S100Z3SN |
| FY ending Jun 2026 | 7,679 | 1,860 | 24.2% | 1,744 | 1,674 | 1,289 | S100Z3SN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥23.7M |
| Operating income per employee (consolidated) | ¥5.7M |
| Net income per employee (consolidated) | ¥5.4M |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 127 | 179 | 236 | 335 | 324 |
| Average salary (parent company) | ¥5.1M | ¥5.2M | ¥5.2M | ¥5.2M | ¥5.5M |
| Average age (parent company) | 36.3 years | 35.1 years | 34.2 years | 33.8 years | 34.6 years |
| Average tenure (parent company) | 2.6 years | 2.4 years | 2.5 years | 2.5 years | 2.9 years |

Year over year: Employees (consolidated) -3.3% · Revenue (consolidated) +14.5%

## Segments（FY ending Jun 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| HomeworthTech business | 4,400 | 57.3% | 1,881 | 42.8% |
| ExtendTech business | 2,627 | 34.2% | 1,833 | 69.8% |
| LifeTech business | 621 | 8.1% | 173 | 27.8% |
| FinTech business | 32 | 0.4% | 11 | 34.2% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| HomeworthTech business | 57.3% | 48.3% | -9.0 | 42.8% |
| ExtendTech business | 34.2% | 47.0% | 12.8 | 69.8% |
| LifeTech business | 8.1% | 4.4% | -3.7 | 27.8% |
| FinTech business | 0.4% | 0.3% | -0.1 | 34.2% |

Segment → industry: ExtendTech business → Non-life Insurance / HomeworthTech business → Non-life Insurance / FinTech business → Cashless Payments

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,674 | 21.8% | S100Z3SN |
| Capital expenditure | 385 | 5.0% | S100Z3SN |
| Free cash flow | 1,289 | 16.8% | 算出 |
| Investing cash flow | -377 | -4.9% | S100Z3SN |
| Financing cash flow | -1,118 | -14.6% | S100Z3SN |
| Dividends paid | 274 | 3.6% | S100Z3SN |
| Share buyback | 688 | 9.0% | S100Z3SN |
| Change in cash | 187 | 2.4% | S100Z3SN |
| Cash and equivalents | 3,601 | 46.9% | S100Z3SN |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 3,058 | 3,799 | 2,805 | 3,414 | 3,601 | S100UF86, S100WSFJ, S100Z3SN |
| Total assets | 16,220 | 20,104 | 24,594 | 29,620 | 34,423 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Net assets | 1,244 | 1,946 | 3,005 | 4,191 | 5,535 | S100UF86, S100WSFJ, S100Z3SN |
| Share capital | 212 | 212 | 212 | 212 | 212 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Property, plant and equipment | 979 | 809 | 804 | 205 | 212 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Intangible assets excluding goodwill | 215 | 318 | 483 | 648 | 691 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Goodwill | — | — | — | 16 | 12 | S100Z3SN |
| Investment securities | 1,097 | 1,585 | 3,510 | 6,207 | 6,869 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Current assets | 6,232 | 7,493 | 8,588 | 9,694 | 12,948 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Current liabilities | 2,675 | 3,266 | 4,012 | 5,598 | 5,407 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Long-term borrowings | 1,370 | 2,170 | 2,379 | 1,793 | 1,991 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Total liabilities | 14,976 | 18,158 | 21,588 | 25,429 | 28,888 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Non-controlling interests | — | — | — | 21 | 21 | S100Z3SN |
| Equity attributable to owners of parent | 1,173 | 1,872 | 2,818 | 4,174 | 4,994 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Retained earnings | 970 | 1,671 | 2,595 | 1,891 | 3,361 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |
| Treasury stock | -201 | -203 | -187 | -701 | -1,389 | S100RWSM, S100UF86, S100WSFJ, S100Z3SN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100Z3SN |
| Property, plant and equipment | 1% | S100Z3SN |
| Intangibles and goodwill | 2% | S100Z3SN |
| Investment securities | 20% | S100Z3SN |
| Other assets | 67% | S100Z3SN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 84% | S100Z3SN |
| Equity | 16% | S100Z3SN |
| Other liabilities | 0% | S100Z3SN |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 16,220 | 20,104 | 24,594 | 29,620 | 34,423 |
| Equity | 1,244 | 1,946 | 3,005 | 4,191 | 5,535 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,058 | 3,799 | 2,805 | 3,414 | 3,601 |

## 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) | 2.8% | S100Z3SN |
| Fixed assets ÷ total assets | 0.6% | S100Z3SN |
| Goodwill ÷ parent equity | 0.2% | S100Z3SN |

### 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) | 10.5% |
| Cash ÷ revenue | 46.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 90.0% |
| Cash vs. profit gap | -70 JPY mn (of net income -4.0%) |
| Shareholder returns / net income | 55.2% |
| Shareholder returns / FCF | 74.6% |
| Shareholder payments — dividends / net income | 15.7% |
| Shareholder payments — dividends / FCF | 21.2% |
| CapEx intensity (capex ÷ revenue) | 5.0% |
| Investing CF relative to operating CF | 22.5% |

## 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 | 16.5% | 0.20× | 3.4% | 13.83× | 46.6% | S100RWSM |
| 2023 | 19.2% | 0.22× | 4.1% | 11.93× | 49.4% | S100UF86 |
| 2024 | 18.2% | 0.24× | 4.4% | 9.53× | 41.5% | S100WSFJ |
| 2025 | — | —× | -2.3% | —× | — | S100Z3SN |
| 2026 | 22.7% | 0.24× | 5.4% | 6.99× | 38.0% | S100Z3SN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 安達 慶高 | Major shareholder | 12.3% | 2026-06-30 |
| 荒川 拓也 | Major shareholder | 11.2% | 2026-06-30 |
| 西尾 直紀 | Major shareholder | 6.3% | 2026-06-30 |
| 吉川 淳史 | Major shareholder | 5.9% | 2026-06-30 |
| 森永 秀一 | Major shareholder | 4.4% | 2026-06-30 |
| 三井不動産レジデンシャル株式会社 | Major shareholder | 4.1% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.6% | 2026-06-30 |
| CACEIS BANK/QUINTET LUXEMBOURG SUB AC / UCITS CUSTOMERS ACCOUNT （常任代理人 香港上海銀行東京支店) | Major shareholder | 3.3% | 2026-06-30 |
| 竹林 俊介 | Major shareholder | 3.3% | 2026-06-30 |
| 大田 宜明 | Major shareholder | 3.2% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第18期(2025/07/01－2026/06/30) | S100Z3SN | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3SN,, |
| 有価証券報告書－第17期(2024/07/01－2025/06/30) | S100WSFJ | 2025-09-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WSFJ,, |
| 有価証券報告書－第16期(2023/07/01－2024/06/30) | S100UF86 | 2024-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UF86,, |
| 有価証券報告書－第15期(2022/07/01－2023/06/30) | S100RWSM | 2023-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWSM,, |
| 訂正有価証券報告書－第14期(令和3年7月1日－令和4年6月30日) | S100PA7L | 2022-10-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PA7L,, |
| 有価証券報告書－第13期(令和2年7月1日－令和3年6月30日) | S100MI48 | 2021-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MI48,, |

## 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).