# SOPHIA  HOLDINGS CO.,LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第51期(2025/04/01－2026/03/31) (S100YFIK)
> Page: https://vizora.meequs.com/en/company/sophia-holdings
> Retrieved: 2026-09-30T19:14:35.307Z

## Company

Sophia Holdings, founded in 1975, is a company in Telecom Carriers listed on TSE Standard. It has 204 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SOPHIA HOLDINGS CO.,LTD. |
| Ticker | 6942 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6942.T) |
| Listing | TSE Standard |
| Head office | 東京都港区海岸一丁目15番1号 |
| Representative (per filing) | 代表取締役社長 飯塚 秀毅 |
| Founded | Aug 1975 |
| Share capital | ¥2.07B |
| Employees (consolidated) | 204 |
| Average salary (parent only) | ¥4.3M |
| Fiscal year end | March |
| Website | www.sophia.com (https://www.sophia.com/) |
| Corporate number | 9011101054751 |
| EDINET | E01978 |
| Industries (Vizora) | Telecom Carriers, IT Services & System Integration, Drugstores & Pharmacies |

> Profile source: annual securities report (S100YFIK, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Drugstores & Pharmacies (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 2.6 | 19 |
| Efficiency | 2.6 | 19 |

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)

- About 84% of Sophia Holdings's sales come from Dispensing pharmacy and related business, with Internet related business and Telecommunications business making up much of the rest.
- It lost about ¥1 for every ¥100 of sales at the operating level.
- Revenue changed -0.4% from the prior year, operating profit -117.6%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥8.33B |  |
| Operating income | -¥60.6M | Margin -0.7% |
| Net income | -¥34.1M | Margin -0.4% |
| Free cash flow | ¥29.8M |  |
| Largest business | Dispensing pharmacy and related business | of segment revenue 83.6% |
| Employees (consolidated) | 204 |  |
| EPS | ¥-7.36 |  |
| Book value per share | ¥339.75 |  |
| Equity ratio | 41.5% | Derived from disclosed figures |
| Shares outstanding | 4,677,000 |  |
| Treasury shares | 49,000 |  |
| Shareholders | 16,560 |  |
| Average salary (parent only) | ¥4.3M | Filing company only |
| Cash ratio | 29.7% | Cash ÷ revenue 25.8% |
| Vs. industry median margin | -5.1 pp | Drugstores & Pharmacies |
| ROA | -0.5% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 79% of positive segment profit
- FY2026, cash is 30% of total assets

## What changed in 5 years

Accounting standard changed in FY2023; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥11384096000 | ¥8329806000 | — |
| Operating income | ¥730991000 | ¥-60592000 | — |
| Operating margin | 6.4% | -0.7% | -7.1 pp |
| Employees | 228 people | 204 people | — |
| Cash and equivalents | ¥2117609000 | ¥2145172000 | — |

### 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.

| Flow | Revenue share |
| --- | ---: |
| インターネット関連事業 → 事業再編・廃止 | 8.5% |
| 通信事業 → 事業再編・廃止 | 29.1% |
| 調剤薬局及びその周辺事業 → 調剤薬局及びその周辺事業 | 62.4% |
| 新設・再編 → インターネット関連事業 | 13.8% |
| 新設・再編 → 通信事業 | 2.6% |
| 新設・再編 → 調剤薬局及びその周辺事業 | 21.2% |
| 新設・再編 → その他 | 0.0% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Dispensing pharmacy and related business | — | — | ¥6964448000 | 5.2% | 2 |
| Internet related business | 2 years | -17.9% | ¥1150455000 | 5.8% | 2 |
| Telecommunications business | 2 years | +15.6% | ¥214651000 | 12.8% | 2 |
| Other | 2 years | -62.6% | ¥250000 | -6164.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,330 | 100.0% | S100YFIK |
| Cost of revenue | 5,295 | 63.6% | S100YFIK |
| Gross profit | 3,035 | 36.4% | S100YFIK |
| SG&A | 3,148 | 37.8% | S100YFIK |
| Operating income | -61 | -0.7% | S100YFIK |
| Pretax income | -57 | -0.7% | S100YFIK |
| Income tax | -23 | -0.3% | S100YFIK |
| Net income | -34 | -0.4% | S100YFIK |
| Net income attributable to owners | -34 | -0.4% | S100YFIK |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 38 |
| Other operating | -1 |
| Operating income | -1 |
| (Ref.) Net income | 0 |

### Margin funnel

Gross margin 36.4% → Operating margin -0.7% → Net margin -0.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
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 | 8,360 | 8,330 | -30 | -0.4% |
| Gross profit | 3,115 | 3,035 | -80 | -2.6% |
| Operating income | 345 | -61 | -405 | -117.6% |
| Net income attributable to owners | 95 | -34 | -129 | -135.7% |
| Operating cash flow | 261 | 129 | -133 | -50.8% |
| Free cash flow | 163 | 30 | -133 | -81.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 9,847 | 209 | 2.1% | 160 | -83 | -144 | S100LMOQ |
| FY ending Mar 2021 | 11,384 | 731 | 6.4% | 502 | 1,231 | 1,205 | S100P8PJ |
| FY ending Mar 2022 | 11,783 | 883 | 7.5% | 613 | 1,068 | 929 | S100R6YI |
| FY ending Mar 2023 | 9,422 | 369 | 3.9% | 21 | 411 | 374 | S100VK3M |
| FY ending Mar 2024 | 9,032 | 403 | 4.5% | 230 | 775 | 743 | S100VYL7 |
| FY ending Mar 2025 | 8,360 | 345 | 4.1% | 95 | 261 | 163 | S100YFIK |
| FY ending Mar 2026 | 8,330 | -61 | -0.7% | -34 | 129 | 30 | S100YFIK |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥40.8M |
| Operating income per employee (consolidated) | -¥297K |
| Net income per employee (consolidated) | -¥167K |

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) | 209 | 215 | 193 | 201 | 204 |
| Average salary (parent company) | ¥5M | ¥5.1M | ¥4.6M | ¥4.5M | ¥4.3M |
| Average age (parent company) | 38.0 years | 39.0 years | 43.0 years | 41.0 years | 40.0 years |
| Average tenure (parent company) | 2.0 years | 2.0 years | 2.0 years | 2.0 years | 3.0 years |

Year over year: Employees (consolidated) +1.5% · Revenue (consolidated) -0.4%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Internet related business | 1,150 | 13.8% | 67 | 5.8% |
| Telecommunications business | 215 | 2.6% | 28 | 12.8% |
| Dispensing pharmacy and related business | 6,964 | 83.6% | 364 | 5.2% |
| Other | 0 | 0.0% | -15 | -6164.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Internet related business | 13.8% | 14.5% | 0.7 | 5.8% |
| Telecommunications business | 2.6% | 6.0% | 3.4 | 12.8% |
| Dispensing pharmacy and related business | 83.6% | 79.5% | -4.2 | 5.2% |
| Other | 0.0% | — | — | -6164.0% |

Loss-making segment (excluded from profit shares): Other -15 JPY mn

Segment → industry: Telecommunications business → Telecom Carriers / Internet related business → IT Services & System Integration / Dispensing pharmacy and related business → Drugstores & Pharmacies

## 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 | 129 | 1.5% | S100YFIK |
| Capital expenditure | 99 | 1.2% | S100YFIK |
| Free cash flow | 30 | 0.4% | 算出 |
| Investing cash flow | -257 | -3.1% | S100YFIK |
| Financing cash flow | -475 | -5.7% | S100YFIK |
| Share buyback | 0 | 0.0% | S100YFIK |
| Change in cash | -602 | -7.2% | S100YFIK |
| Cash and equivalents | 2,145 | 25.8% | S100YFIK |

## 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 | 2,339 | 2,018 | 2,957 | 2,747 | 2,145 | S100VK3M, S100VYL7, S100YFIK |
| Total assets | 8,595 | 7,697 | 8,337 | 7,458 | 7,221 | S100R6YI, S100VYL7, S100YFIK |
| Net assets | 2,005 | 1,442 | 2,807 | 3,029 | 2,994 | S100VK3M, S100VYL7, S100YFIK |
| Share capital | 2,358 | 2,358 | 2,950 | 2,066 | 2,066 | S100R6YI, S100VYL7, S100YFIK |
| Property, plant and equipment | 402 | 346 | 308 | 313 | 350 | S100R6YI, S100VYL7, S100YFIK |
| Intangible assets excluding goodwill | 3,235 | 2,770 | 2,353 | — | — | S100R6YI, S100VK3M |
| Goodwill | 3,216 | 2,274 | 2,064 | 1,776 | 1,838 | S100R6YI, S100VYL7, S100YFIK |
| Current assets | 4,551 | 3,976 | 4,986 | 4,511 | 4,029 | S100R6YI, S100VYL7, S100YFIK |
| Current liabilities | 3,531 | 2,916 | 3,097 | — | — | S100R6YI, S100VK3M |
| Trade payables | 2,147 | 1,720 | 1,732 | — | — | S100R6YI, S100VK3M |
| Short-term borrowings | 100 | 100 | 100 | — | — | S100R6YI, S100VK3M |
| Long-term borrowings | 2,894 | 2,354 | 1,574 | — | — | S100R6YI, S100VK3M |
| Bonds | 92 | 35 | — | — | — | S100R6YI, S100VK3M |
| Interest-bearing debt | 3,087 | 2,489 | — | — | — | 算出 |
| Total liabilities | 6,590 | 6,255 | 5,529 | 4,429 | 4,226 | S100R6YI, S100VYL7, S100YFIK |
| Equity attributable to owners of parent | 2,005 | 1,442 | 2,807 | 3,029 | 2,994 | S100R6YI, S100VYL7, S100YFIK |
| Retained earnings | -944 | -1,507 | -1,277 | 1,013 | 979 | S100R6YI, S100VYL7, S100YFIK |
| Treasury stock | -62 | -62 | -62 | -62 | -62 | S100R6YI, S100VYL7, S100YFIK |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100YFIK |
| Property, plant and equipment | 5% | S100YFIK |
| Intangibles and goodwill | 25% | — |
| Other assets | 40% | S100YFIK |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 59% | S100YFIK |
| Equity | 41% | S100YFIK |
| Other liabilities | 0% | S100YFIK |

### 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 | 8,595 | 7,697 | 8,337 | 7,458 | 7,221 |
| Equity | 2,005 | 1,442 | 2,807 | 3,029 | 2,994 |
| Interest-bearing debt | 3,087 | 2,489 | — | — | — |
| Cash | 2,339 | 2,018 | 2,957 | 2,747 | 2,145 |

## 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) | 4.2% | S100YFIK |
| Fixed assets ÷ total assets | 4.9% | S100YFIK |
| Goodwill ÷ parent equity | 61.4% | S100YFIK |

Goodwill over 4 years: 3,216 → 1,838 JPY; total investing cash flow: -96 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) | 29.7% |
| Cash ÷ revenue | 25.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 163 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.2% |
| Investing CF relative to operating CF | 199.6% |

## 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 | 5.2% | 1.37× | 7.1% | 4.29× | 30.6% | S100R6YI |
| 2023 | 0.2% | 1.16× | 0.3% | 4.73× | 1.2% | S100VK3M, S100VYL7 |
| 2024 | 2.5% | 1.13× | 2.9% | 3.77× | 10.8% | S100VYL7 |
| 2025 | 1.1% | 1.06× | 1.2% | 2.71× | 3.3% | S100YFIK |
| 2026 | — | —× | -0.5% | —× | — | S100YFIK |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社E-BONDホールディングス | Major shareholder | 53.0% | 2026-03-31 |
| INTERACTIVE BROKERS LLC（常任代理人インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 0.5% | 2026-03-31 |
| 松浦 行子 | Major shareholder | 0.5% | 2026-03-31 |
| 川野 光男 | Major shareholder | 0.1% | 2026-03-31 |
| 川名 貴行 | Major shareholder | 0.1% | 2026-03-31 |
| 谷川 新一 | Major shareholder | 0.1% | 2026-03-31 |
| 下田 豊隆 | Major shareholder | 0.1% | 2026-03-31 |
| 村田 真希 | Major shareholder | 0.1% | 2026-03-31 |
| 久米 裕子 | Major shareholder | 0.1% | 2026-03-31 |
| 金久保 美喜 | Major shareholder | 0.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第51期(2025/04/01－2026/03/31) | S100YFIK | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFIK,, |
| 有価証券報告書－第50期(2024/04/01－2025/03/31) | S100VYL7 | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYL7,, |
| 訂正有価証券報告書－第49期(2023/04/01－2024/03/31) | S100VK3M | 2025-04-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VK3M,, |
| 有価証券報告書－第48期(2022/04/01－2023/03/31) | S100R6YI | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6YI,, |
| 訂正有価証券報告書－第47期(令和3年4月1日－令和4年3月31日) | S100P8PJ | 2022-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P8PJ,, |
| 有価証券報告書－第46期(令和2年4月1日－令和3年3月31日) | S100LMOQ | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMOQ,, |

## 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).