# tanseisha co.,ltd.: business model and financials

> Latest period: FY ending Jan 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第68期(2025/02/01－2026/01/31) (S100Y04L)
> Page: https://vizora.meequs.com/en/company/tanseisha
> Retrieved: 2026-09-30T21:00:28.408Z

## Company

tanseisha, founded in 1949, is a company in Events & Ticketing listed on TSE Prime. It has 1,579 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TANSEISHA CO.,LTD. |
| Ticker | 9743 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9743.T) |
| Listing | TSE Prime |
| Head office | 東京都港区港南1丁目2番70号 |
| Representative (per filing) | 代表取締役社長 小林統 |
| Founded | Oct 1949 |
| Share capital | ¥4.03B |
| Employees (consolidated) | 1,579 |
| Average salary (parent only) | ¥9.3M |
| Fiscal year end | January |
| Website | www.tanseisha.co.jp (https://www.tanseisha.co.jp/) |
| Corporate number | 3010501007440 |
| EDINET | E00208 |
| Industries (Vizora) | Events & Ticketing, General Contractors |

> Profile source: annual securities report (S100Y04L, filed 2026-04-22). As of filing

## Five-axis industry profile

Primary industry: Events & Ticketing (2026-01-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 25 | 6 |
| Profitability | 72.2 | 9 |
| Cash conversion | 16.7 | 9 |
| Efficiency | 94.4 | 9 |

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 67% of tanseisha's sales come from Commercial And Other Facility Market, with Chain Store Market and Cultural Facility Market making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed +16.7% from the prior year, operating profit +62.4%.

## Company structure

- Segment revenue mix: Commercial And Other Facility Market 67.3%、Chain Store Market 23.9%、Cultural Facility Market 8.3%、Other 0.5%
- Revenue → net income: ¥107222000000 → ¥5993000000
- Net income → operating cash flow: ¥5993000000 → ¥3743000000（difference ¥-2250000000）
- Main uses of operating cash flow: CapEx ¥484000000 / dividends ¥3122000000 / buybacks ¥0
- Change in cash: ¥385000000
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 | ¥107.2B |  |
| Operating income | ¥8.36B | Margin 7.8% |
| Net income | ¥5.99B | Margin 5.6% |
| Free cash flow | ¥3.26B |  |
| Largest business | Commercial And Other Facility Market | of segment revenue 67.3% |
| Employees (consolidated) | 1,579 |  |
| EPS | ¥119.38 |  |
| Book value per share | ¥732.54 |  |
| Equity ratio | 67.6% |  |
| Shares outstanding | 48,424,071 |  |
| Treasury shares | 318,400 |  |
| Shareholders | 22,429 |  |
| Average salary (parent only) | ¥9.3M | Filing company only |
| Cash ratio | 31.6% | Cash ÷ revenue 16.4% |
| Vs. industry median margin | +0.4 pp | Events & Ticketing |
| ROE | 17.6% | Derived from disclosed figures |
| ROA | 10.9% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 76% of positive segment profit
- FY2026, parent-company salary changed +23% over five years
- FY2026, cash is 32% of total assets

## What changed in 5 years

| Metric | FY ending Jan 2021 | FY ending Jan 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥69225880000 | ¥107222000000 | +54.9% |
| Operating income | ¥5049537000 | ¥8358000000 | +65.5% |
| Operating margin | 7.3% | 7.8% | +0.5 pp |
| Employees | 1,296 people | 1,579 people | +21.8% |
| Cash and equivalents | ¥17986081000 | ¥17589000000 | -2.2% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 商業その他施設事業 → 商業その他施設事業 | 57.8% |
| チェーンストア事業 → チェーンストア事業 | 23.9% |
| チェーンストア事業 → 事業再編・廃止 | 4.4% |
| 文化施設事業 → 文化施設事業 | 8.3% |
| 文化施設事業 → 事業再編・廃止 | 5.0% |
| その他 → その他 | 0.5% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 商業その他施設事業 | 9.5% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Commercial And Other Facility Market | 5 years | +12.5% | ¥72154000000 | 9.4% | 2 |
| Chain Store Market | 5 years | +5.5% | ¥25619000000 | 7.7% | 2 |
| Cultural Facility Market | 5 years | -0.7% | ¥8929000000 | -6.9% | 2 |
| Other | 5 years | +7.6% | ¥519000000 | 33.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 107,222 | 100.0% | S100Y04L |
| Cost of revenue | 85,815 | 80.0% | S100Y04L |
| Gross profit | 21,407 | 20.0% | S100Y04L |
| SG&A | 13,049 | 12.2% | S100Y04L |
| Operating income | 8,358 | 7.8% | S100Y04L |
| Ordinary income | 8,336 | 7.8% | S100Y04L |
| Pretax income | 8,347 | 7.8% | S100Y04L |
| Income tax | 2,353 | 2.2% | S100Y04L |
| Net income | 5,993 | 5.6% | S100Y04L |
| Net income attributable to owners | 5,993 | 5.6% | S100Y04L |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 80 |
| SG&A | 12 |
| Operating income | 8 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 20.0% → Operating margin 7.8% → Net margin 5.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +16.7%; Core profit growth: +62.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.73×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 91,858 | 107,222 | 15,364 | +16.7% |
| Gross profit | 17,064 | 21,407 | 4,343 | +25.5% |
| Operating income | 5,147 | 8,358 | 3,211 | +62.4% |
| Net income attributable to owners | 3,875 | 5,993 | 2,118 | +54.7% |
| Operating cash flow | 1,018 | 3,743 | 2,725 | +267.7% |
| Free cash flow | 794 | 3,259 | 2,465 | +310.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jan 2020 | 81,679 | 5,678 | 7.0% | 4,075 | -906 | -1,049 | S100L825 |
| FY ending Jan 2021 | 69,226 | 5,050 | 7.3% | 3,438 | 6,150 | 5,948 | S100NXXX |
| FY ending Jan 2022 | 62,714 | 2,025 | 3.2% | 1,435 | -994 | -1,153 | S100QNES |
| FY ending Jan 2023 | 64,221 | 617 | 1.0% | 460 | 1,810 | 1,599 | S100UDS5 |
| FY ending Jan 2024 | 81,201 | 3,883 | 4.8% | 2,771 | 2,781 | 2,634 | S100VNG9 |
| FY ending Jan 2025 | 91,858 | 5,147 | 5.6% | 3,875 | 1,018 | 794 | S100Y04L |
| FY ending Jan 2026 | 107,222 | 8,358 | 7.8% | 5,993 | 3,743 | 3,259 | S100Y04L |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥67.9M |
| Operating income per employee (consolidated) | ¥5.3M |
| Net income per employee (consolidated) | ¥3.8M |

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

| History | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,410 | 1,404 | 1,434 | 1,484 | 1,579 |
| Average salary (parent company) | ¥7.6M | ¥8M | ¥8.1M | ¥8.5M | ¥9.3M |
| Average age (parent company) | 43.1 years | 43.5 years | 43.5 years | 43.3 years | 42.9 years |
| Average tenure (parent company) | 15.8 years | 16.2 years | 16.1 years | 15.7 years | 15.1 years |

Year over year: Employees (consolidated) +6.4% · Revenue (consolidated) +16.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Commercial And Other Facility Market | 72,154 | 67.3% | 6,808 | 9.4% |
| Chain Store Market | 25,619 | 23.9% | 1,984 | 7.7% |
| Cultural Facility Market | 8,929 | 8.3% | -616 | -6.9% |
| Other | 519 | 0.5% | 174 | 33.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Commercial And Other Facility Market | 67.3% | 75.9% | 8.6 | 9.4% |
| Chain Store Market | 23.9% | 22.1% | -1.8 | 7.7% |
| Cultural Facility Market | 8.3% | — | — | -6.9% |
| Other | 0.5% | 1.9% | 1.5 | 33.5% |

Loss-making segment (excluded from profit shares): Cultural Facility Market -616 JPY mn

Segment → industry: Commercial And Other Facility Market → Events & Ticketing / Cultural Facility Market → General Contractors / Chain Store Market → General Contractors / Commercial And Other Facility Market → General Contractors

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 3,743 | 3.5% | S100Y04L |
| Capital expenditure | 484 | 0.5% | S100Y04L |
| Free cash flow | 3,259 | 3.0% | 算出 |
| Investing cash flow | -194 | -0.2% | S100Y04L |
| Financing cash flow | -3,161 | -2.9% | S100Y04L |
| Dividends paid | 3,122 | 2.9% | S100Y04L |
| Share buyback | 0 | 0.0% | S100Y04L |
| Change in cash | 385 | 0.4% | S100Y04L |
| Cash and equivalents | 17,589 | 16.4% | S100Y04L |

## 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 Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 16,357 | 15,740 | 16,694 | 17,204 | 17,589 | S100UDS5, S100VNG9, S100Y04L |
| Total assets | 45,245 | 41,858 | 50,652 | 54,195 | 55,725 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Net assets | 29,059 | 29,414 | 31,626 | 33,370 | 37,665 | S100UDS5, S100VNG9, S100Y04L |
| Share capital | 4,027 | 4,027 | 4,027 | 4,026 | 4,026 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Inventories | 9,983 | 1,649 | 1,772 | 2,708 | 3,372 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Property, plant and equipment | 736 | 706 | 588 | 726 | 768 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Intangible assets excluding goodwill | 213 | 242 | 243 | 280 | 377 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Investment securities | 2,322 | 1,861 | 2,816 | 2,457 | 3,217 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Current assets | 38,073 | 34,519 | 42,066 | 45,251 | 44,681 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Current liabilities | 15,118 | 11,239 | 18,059 | 19,343 | 16,446 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Long-term borrowings | 356 | 191 | — | 668 | 415 | S100QNES, S100UDS5, S100Y04L |
| Total liabilities | 16,186 | 12,444 | 19,025 | 20,824 | 18,059 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Equity attributable to owners of parent | 29,108 | 29,156 | 30,731 | 32,545 | 35,580 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Retained earnings | 21,892 | 21,758 | 23,086 | 25,518 | 28,385 | S100QNES, S100UDS5, S100VNG9, S100Y04L |
| Treasury stock | -836 | -654 | -407 | -1,024 | -856 | S100QNES, S100UDS5, S100VNG9, S100Y04L |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 32% | S100Y04L |
| Inventories | 6% | S100Y04L |
| Property, plant and equipment | 1% | S100Y04L |
| Intangibles and goodwill | 1% | S100Y04L |
| Investment securities | 6% | S100Y04L |
| Other assets | 54% | S100Y04L |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 32% | S100Y04L |
| Equity | 68% | S100Y04L |
| Other liabilities | 0% | S100Y04L |

### Balance sheet history

| Metric | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 45,245 | 41,858 | 50,652 | 54,195 | 55,725 |
| Equity | 29,059 | 29,414 | 31,626 | 33,370 | 37,665 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 16,357 | 15,740 | 16,694 | 17,204 | 17,589 |

## 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) | 0.7% | S100Y04L |
| Fixed assets ÷ total assets | 1.4% | S100Y04L |
| Goodwill ÷ parent equity | — | —, S100Y04L |

### 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) | 31.6% |
| Cash ÷ revenue | 16.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 44.8% |
| Cash vs. profit gap | -2,250 JPY mn (of net income -37.5%) |
| Shareholder returns / net income | 52.1% |
| Shareholder returns / FCF | 95.8% |
| Shareholder payments — dividends / net income | 52.1% |
| Shareholder payments — dividends / FCF | 95.8% |
| CapEx intensity (capex ÷ revenue) | 0.5% |
| Investing CF relative to operating CF | 5.2% |

## 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 | 2.3% | 1.39× | 3.2% | 1.55× | 4.9% | S100QNES |
| 2023 | 0.7% | 1.47× | 1.1% | 1.49× | 1.6% | S100UDS5 |
| 2024 | 3.4% | 1.76× | 6.0% | 1.54× | 9.3% | S100VNG9 |
| 2025 | 4.2% | 1.75× | 7.4% | 1.66× | 12.2% | S100Y04L |
| 2026 | 5.6% | 1.95× | 10.9% | 1.61× | 17.6% | S100Y04L |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社 その他信託口 | Major shareholder | 6.9% | 2026-01-31 |
| 日本マスタートラスト信託銀行株式会社 投資信託口 | Major shareholder | 6.8% | 2026-01-31 |
| 丹青社取引先持株会 | Major shareholder | 4.0% | 2026-01-31 |
| 第一生命保険株式会社 (常任代理人 株式会社日本カストディ銀行) | Major shareholder | 4.0% | 2026-01-31 |
| 丹青社従業員持株会 | Major shareholder | 3.3% | 2026-01-31 |
| 日本生命保険相互会社 （常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 3.0% | 2026-01-31 |
| 株式会社日本カストディ銀行 投資信託口 | Major shareholder | 2.4% | 2026-01-31 |
| 東京海上日動火災保険株式会社 | Major shareholder | 1.4% | 2026-01-31 |
| 株式会社テクノ菱和 | Major shareholder | 1.3% | 2026-01-31 |
| ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ） （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.3% | 2026-01-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第68期(2025/02/01－2026/01/31) | S100Y04L | 2026-04-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y04L,, |
| 有価証券報告書－第67期(2024/02/01－2025/01/31) | S100VNG9 | 2025-04-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VNG9,, |
| 訂正有価証券報告書－第66期(2023/02/01－2024/01/31) | S100UDS5 | 2024-09-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UDS5,, |
| 有価証券報告書－第65期(2022/02/01－2023/01/31) | S100QNES | 2023-04-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QNES,, |
| 有価証券報告書－第64期(令和3年2月1日－令和4年1月31日) | S100NXXX | 2022-04-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NXXX,, |
| 有価証券報告書 | S100L825 | 2021-04-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L825,, |

## 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).