# TalentX 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8期(2025/04/01－2026/03/31) (S100YGDN)
> Page: https://vizora.meequs.com/en/company/talentx
> Retrieved: 2026-09-30T20:24:27.370Z

## Company

TalentX, founded in 2018, is a company in HR & Staffing listed on TSE Growth. It has 140 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TalentX Inc. |
| Ticker | 330A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/330A.T) |
| Listing | TSE Growth |
| Head office | 東京都新宿区神楽坂四丁目8番地 ONEST飯田橋スクエア |
| Representative (per filing) | 代表取締役社長CEO 鈴木 貴史 |
| Founded | May 2018 |
| Share capital | ¥100M |
| Employees (consolidated) | 140 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | March |
| Website | talentx.co.jp (https://talentx.co.jp/) |
| Corporate number | 3010001192221 |
| EDINET | E40399 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100YGDN, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 81.3 | 88 |
| Cash conversion | 59.4 | 80 |
| Efficiency | 25.6 | 88 |

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)

- TalentX brought in ¥1.75B in revenue.
- Out of every ¥100 of sales, about ¥19 is left as operating profit.
- Revenue changed +22.1% from the prior year, operating profit +13.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥1751453000 → ¥254611000
- Net income → operating cash flow: ¥254611000 → ¥351567000（difference ¥96956000）
- Main uses of operating cash flow: CapEx ¥81184000 / dividends — / buybacks —
- Change in cash: ¥278313000
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 | ¥1.75B |  |
| Operating income | ¥334.7M | Margin 19.1% |
| Net income | ¥254.6M | Margin 14.5% |
| Free cash flow | ¥270.4M |  |
| Employees (consolidated) | 140 |  |
| EPS | ¥49.21 |  |
| Diluted EPS | ¥48.31 |  |
| Book value per share | ¥159.85 |  |
| Equity ratio | 52.7% |  |
| Shares outstanding | 5,764,200 |  |
| Shareholders | 3,124 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 69.6% | Cash ÷ revenue 67.4% |
| Vs. industry median margin | +10.5 pp | HR & Staffing |
| ROE | 28.5% | Derived from disclosed figures |
| ROA | 15.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 70% of total assets

## What changed in 2 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2024 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1062787000 | ¥1751453000 | — |
| Operating income | ¥27214000 | ¥334655000 | — |
| Operating margin | 2.6% | 19.1% | +16.5 pp |
| Employees | 95 people | 140 people | — |
| Cash and equivalents | ¥465192000 | ¥1180024000 | — |

### Change in segment revenue mix

Span: FY ending Mar 2024 → 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 | 1,751 | 100.0% | S100YGDN |
| Cost of revenue | 237 | 13.6% | S100YGDN |
| Gross profit | 1,514 | 86.4% | S100YGDN |
| SG&A | 1,179 | 67.3% | S100YGDN |
| Operating income | 335 | 19.1% | S100YGDN |
| Ordinary income | 338 | 19.3% | S100YGDN |
| Pretax income | 338 | 19.3% | S100YGDN |
| Income tax | 83 | 4.8% | S100YGDN |
| Net income | 255 | 14.5% | S100YGDN |
| Net income attributable to owners | 255 | 14.5% | S100YGDN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 14 |
| SG&A | 67 |
| Operating income | 19 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 86.4% → Operating margin 19.1% → Net margin 14.5%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 1,434 | 1,751 | 317 | +22.1% |
| Gross profit | 1,196 | 1,514 | 318 | +26.6% |
| Operating income | 294 | 335 | 41 | +13.9% |
| Operating cash flow | 435 | 352 | -83 | -19.1% |
| Free cash flow | 433 | 270 | -163 | -37.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2024 | 1,063 | 27 | 2.6% | 27 | 148 | 142 | S100W90Q |
| FY ending Mar 2025 | 1,434 | 294 | 20.5% | 367 | 435 | 433 | S100W90Q |
| FY ending Mar 2026 | 1,751 | 335 | 19.1% | 255 | 352 | 270 | S100YGDN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥12.5M |
| Operating income per employee (consolidated) | ¥2.4M |
| Net income per employee (consolidated) | ¥1.8M |

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

| History | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: |
| Employees (consolidated) | 95 | 110 | 140 |
| Average salary (parent company) | — | ¥5.7M | ¥5.8M |
| Average age (parent company) | — | 32.5 years | 32.6 years |
| Average tenure (parent company) | — | 1.0 years | 2.0 years |

## 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 | 352 | 20.1% | S100YGDN |
| Capital expenditure | 81 | 4.6% | S100YGDN |
| Free cash flow | 270 | 15.4% | 算出 |
| Investing cash flow | -245 | -14.0% | S100YGDN |
| Financing cash flow | 172 | 9.8% | S100YGDN |
| Change in cash | 278 | 15.9% | S100YGDN |
| Cash and equivalents | 1,180 | 67.4% | S100YGDN |

## 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 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: |
| Cash and equivalents | 465 | 902 | 1,180 | S100W90Q, S100YGDN |
| Total assets | 631 | 1,163 | 1,695 | S100W90Q, S100YGDN |
| Net assets | 61 | 462 | 893 | S100W90Q, S100YGDN |
| Share capital | 100 | 77 | 100 | S100W90Q, S100YGDN |
| Property, plant and equipment | 55 | 36 | 35 | S100W90Q, S100YGDN |
| Intangible assets excluding goodwill | 1 | 1 | 203 | S100W90Q, S100YGDN |
| Goodwill | — | — | 129 | S100YGDN |
| Current assets | 533 | 994 | 1,339 | S100W90Q, S100YGDN |
| Current liabilities | 499 | 653 | 743 | S100W90Q, S100YGDN |
| Long-term borrowings | 26 | 2 | 13 | S100W90Q, S100YGDN |
| Total liabilities | 570 | 701 | 802 | S100W90Q, S100YGDN |
| Equity attributable to owners of parent | 61 | 462 | 893 | S100W90Q, S100YGDN |
| Retained earnings | -807 | 367 | 621 | S100W90Q, S100YGDN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 70% | S100YGDN |
| Property, plant and equipment | 2% | S100YGDN |
| Intangibles and goodwill | 19% | S100YGDN |
| Other assets | 9% | S100YGDN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 47% | S100YGDN |
| Equity | 53% | S100YGDN |
| Other liabilities | 0% | S100YGDN |

### Balance sheet history

| Metric | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: |
| Total assets | 631 | 1,163 | 1,695 |
| Equity | 61 | 462 | 893 |
| Interest-bearing debt | — | — | — |
| Cash | 465 | 902 | 1,180 |

## 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) | 2.0% | S100YGDN |
| Fixed assets ÷ total assets | 2.1% | S100YGDN |
| Goodwill ÷ parent equity | 14.4% | S100YGDN |

### 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) | 69.6% |
| Cash ÷ revenue | 67.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 105.1% |
| Cash vs. profit gap | 97 JPY mn (of net income 38.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 4.6% |
| Investing CF relative to operating CF | 69.7% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2024 | 2.5% | 1.69× | 4.3% | 10.40× | 44.5% | S100W90Q |
| 2025 | 25.6% | 1.60× | 40.9% | 3.43× | 140.4% | S100W90Q |
| 2026 | 14.5% | 1.03× | 15.0% | 1.90× | 28.5% | S100YGDN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 鈴木 貴史 | Major shareholder | 43.4% | 2026-03-31 |
| 細田 亮佑 | Major shareholder | 4.3% | 2026-03-31 |
| 大瀧 大悟郎 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社SBI証券 | Major shareholder | 2.4% | 2026-03-31 |
| HAKUHODO DY FUTURE DESIGN FUND投資事業有限責任組合 | Major shareholder | 2.0% | 2026-03-31 |
| 山名 清 | Major shareholder | 1.9% | 2026-03-31 |
| ＮＯＭＵＲＡ ＰＢ ＮＯＭＩＮＥＥＳ ＬＩＭＩＴＥＤ ＯＭＮＩＢＵＳ－ＭＡＲＧＩＮ （ＣＡＳＨＰＢ） （常任代理人 野村證券株式会社） | Major shareholder | 1.7% | 2026-03-31 |
| 楽天証券株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| Ｊ．Ｐ．Ｍｏｒｇａｎ Ｓｅｃｕｒｉｔｉｅｓ ｐｌｃ （常任代理人 ＪＰモルガン証券株式会社） | Major shareholder | 1.3% | 2026-03-31 |
| 友澤 悟郎 | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第8期(2025/04/01－2026/03/31) | S100YGDN | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGDN,, |
| 有価証券報告書－第7期(2024/04/01－2025/03/31) | S100W90Q | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W90Q,, |

## 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).