# TECHMATRIX CORPORATION: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第42期(2025/04/01－2026/03/31) (S100YL8T)
> Page: https://vizora.meequs.com/en/company/techmatrix
> Retrieved: 2026-09-30T20:55:33.143Z

## Company

Techmatrix, founded in 2018, is a company in Cybersecurity listed on TSE Prime.

| Field | Value |
| --- | ---: |
| Legal name | TECHMATRIX CORPORATION |
| Ticker | 3762 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3762.T) |
| Listing | TSE Prime |
| Head office | 東京都港区港南一丁目2番70号 |
| Representative (per filing) | 代表取締役社長 矢井隆晴 |
| Founded | Apr 2018 |
| Share capital | ¥1.3B |
| Average salary (parent only) | ¥8.5M |
| Fiscal year end | March |
| Website | www.techmatrix.co.jp (https://www.techmatrix.co.jp/) |
| Corporate number | 4010401058467 |
| EDINET | E05463 |
| Industries (Vizora) | Cybersecurity, IT Services & System Integration, Software & SaaS, Health Tech |

> Profile source: annual securities report (S100YL8T, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 87.6 | 157 |
| Profitability | 65.6 | 196 |
| Cash conversion | 93.2 | 185 |
| Efficiency | 4.8 | 196 |

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 72% of Techmatrix's sales come from Information infrastructure, with Medical system business and Application service making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +10.6% from the prior year, operating profit +16.5%.

## Company structure

- Segment revenue mix: Information infrastructure 72.0%、Medical system business 14.3%、Application service 13.8%
- Revenue → net income: ¥71733770000 → ¥5669768000
- Net income → operating cash flow: ¥5669768000 → ¥13144650000（difference ¥7474882000）
- Main uses of operating cash flow: CapEx ¥1279202000 / dividends ¥1726353000 / buybacks —
- Change in cash: ¥8476574000
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 | ¥71.7B |  |
| Operating income | ¥7.76B | Margin 10.8% |
| Net income | ¥5.18B | Margin 7.2% |
| Free cash flow | ¥11.9B |  |
| Largest business | Information infrastructure | of segment revenue 72.0% |
| EPS | ¥128.88 |  |
| Diluted EPS | ¥128.48 |  |
| Book value per share | ¥495.96 |  |
| Equity ratio | 21.7% | Derived from disclosed figures |
| Shares outstanding | 44,518,400 |  |
| Treasury shares | 4,333,200 |  |
| Shareholders | 5,649 |  |
| Average salary (parent only) | ¥8.5M | Filing company only |
| Cash ratio | 29.5% | Cash ÷ revenue 49.9% |
| Vs. industry median margin | -3.6 pp | Cybersecurity |
| ROE | 20.5% | Derived from disclosed figures |
| ROA | 4.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.5× net income
- FY2026, one segment accounts for 83% of positive segment profit
- FY2026, cash is 29% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥30928506000 | ¥71733770000 | +131.9% |
| Operating income | ¥3583517000 | ¥7760296000 | +116.6% |
| Operating margin | 11.6% | 10.8% | -0.8 pp |
| Cash and equivalents | ¥14634332000 | ¥35801807000 | +144.6% |

### 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 |
| --- | ---: |
| 情報基盤事業 → 情報基盤事業 | 67.7% |
| アプリケーション・サービス事業 → アプリケーション・サービス事業 | 13.8% |
| アプリケーション・サービス事業 → 事業再編・廃止 | 18.5% |
| 新設・再編 → 情報基盤事業 | 4.2% |
| 新設・再編 → 医療システム事業 | 14.3% |

Segment revenue source references: 5 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Information infrastructure | 5 years | +19.8% | ¥51620293000 | 12.7% | 2 |
| Medical system business | 4 years | +22.4% | ¥10229238000 | 13.0% | 2 |
| Application service | 5 years | -0.2% | ¥9884238000 | -1.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 71,734 | 100.0% | S100YL8T |
| Cost of revenue | 49,158 | 68.5% | S100YL8T |
| Gross profit | 22,575 | 31.5% | S100YL8T |
| SG&A | 14,829 | 20.7% | S100YL8T |
| Operating income | 7,760 | 10.8% | S100YL8T |
| Pretax income | 7,861 | 11.0% | S100YL8T |
| Income tax | 2,192 | 3.1% | S100YL8T |
| Net income | 5,670 | 7.9% | S100YL8T |
| Net income attributable to owners | 5,178 | 7.2% | S100YL8T |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 68 |
| SG&A | 21 |
| Operating income | 11 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 31.5% → Operating margin 10.8% → Net margin 7.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.6%; Core profit growth: +16.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.56×
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 | 64,882 | 71,734 | 6,852 | +10.6% |
| Gross profit | 20,549 | 22,575 | 2,027 | +9.9% |
| Operating income | 6,663 | 7,760 | 1,098 | +16.5% |
| Net income attributable to owners | 4,057 | 5,178 | 1,122 | +27.7% |
| Operating cash flow | 6,837 | 13,145 | 6,308 | +92.3% |
| Free cash flow | 6,034 | 11,865 | 5,832 | +96.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 27,599 | 2,736 | 9.9% | 1,831 | 3,002 | 2,478 | S100LSVI |
| FY ending Mar 2021 | 30,929 | 3,584 | 11.6% | 2,302 | 3,516 | 2,884 | S100OHNR |
| FY ending Mar 2022 | 36,514 | 3,735 | 10.2% | 2,372 | 5,283 | 4,730 | S100R6A5 |
| FY ending Mar 2023 | 45,951 | 5,098 | 11.1% | 2,950 | 6,348 | 4,750 | S100TWZZ |
| FY ending Mar 2024 | 53,303 | 5,850 | 11.0% | 3,540 | 8,983 | 7,972 | S100W658 |
| FY ending Mar 2025 | 64,882 | 6,663 | 10.3% | 4,057 | 6,837 | 6,034 | S100YL8T |
| FY ending Mar 2026 | 71,734 | 7,760 | 10.8% | 5,178 | 13,145 | 11,865 | S100YL8T |

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

| Metric | Value |
| --- | ---: |

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) | — | — | — | — | — |
| Average salary (parent company) | ¥7.8M | ¥7.9M | ¥8M | ¥8.3M | ¥8.5M |
| Average age (parent company) | 37.8 years | 37.8 years | 38.0 years | 37.9 years | 38.0 years |
| Average tenure (parent company) | 8.3 years | 8.3 years | 8.3 years | 8.5 years | 8.5 years |

Year over year: Revenue (consolidated) +10.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Information infrastructure | 51,620 | 72.0% | 6,580 | 12.7% |
| Application service | 9,884 | 13.8% | -148 | -1.5% |
| Medical system business | 10,229 | 14.3% | 1,329 | 13.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Information infrastructure | 72.0% | 83.2% | 11.2 | 12.7% |
| Application service | 13.8% | — | — | -1.5% |
| Medical system business | 14.3% | 16.8% | 2.5 | 13.0% |

Loss-making segment (excluded from profit shares): Application service -148 JPY mn

Segment → industry: Information infrastructure → Cybersecurity / Application service → IT Services & System Integration / Information infrastructure → IT Services & System Integration / Application service → Software & SaaS / Medical system business → Health Tech

## 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 | 13,145 | 18.3% | S100YL8T |
| Capital expenditure | 1,279 | 1.8% | S100YL8T |
| Free cash flow | 11,865 | 16.5% | 算出 |
| Investing cash flow | -1,130 | -1.6% | S100YL8T |
| Financing cash flow | -3,626 | -5.1% | S100YL8T |
| Dividends paid | 1,726 | 2.4% | S100YL8T |
| Change in cash | 8,477 | 11.8% | S100YL8T |
| Cash and equivalents | 35,802 | 49.9% | S100YL8T |

## 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 | 18,156 | 20,072 | 27,265 | 27,325 | 35,802 | S100TWZZ, S100W658, S100YL8T |
| Total assets | 52,504 | 65,691 | 85,756 | 105,498 | 121,531 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Net assets | 20,202 | 23,918 | 27,044 | 29,992 | 32,681 | S100TWZZ, S100W658, S100YL8T |
| Share capital | 1,298 | 1,298 | 1,298 | 1,298 | 1,298 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Property, plant and equipment | 3,506 | 6,122 | 6,118 | 5,988 | 5,427 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Goodwill | 172 | 172 | 172 | 3,896 | 4,510 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Current assets | 42,267 | 51,771 | 70,462 | 85,447 | 101,405 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Total liabilities | 32,301 | 41,774 | 58,713 | 75,506 | 88,851 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Equity attributable to owners of parent | 17,019 | 18,971 | 21,744 | 24,203 | 26,327 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Retained earnings | 11,149 | 13,381 | 16,038 | 18,909 | 21,902 | S100R6A5, S100TWZZ, S100W658, S100YL8T |
| Treasury stock | -976 | -975 | -930 | -922 | -919 | S100R6A5, S100TWZZ, S100W658, S100YL8T |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100YL8T |
| Property, plant and equipment | 5% | S100YL8T |
| Intangibles and goodwill | 4% | — |
| Other assets | 62% | S100YL8T |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 73% | S100YL8T |
| Equity | 27% | S100YL8T |
| Other liabilities | 0% | S100YL8T |

### 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 | 52,504 | 65,691 | 85,756 | 105,498 | 121,531 |
| Equity | 20,202 | 23,918 | 27,044 | 29,992 | 32,681 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 18,156 | 20,072 | 27,265 | 27,325 | 35,802 |

## 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) | 7.6% | S100YL8T |
| Fixed assets ÷ total assets | 4.5% | S100YL8T |
| Goodwill ÷ parent equity | 17.1% | S100YL8T |

Goodwill over 4 years: 172 → 4,510 JPY; total investing cash flow: -11,959 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) | 29.5% |
| Cash ÷ revenue | 49.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 169.4% |
| Cash vs. profit gap | 7,966 JPY mn (of net income 153.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 33.3% |
| Shareholder payments — dividends / FCF | 14.5% |
| CapEx intensity (capex ÷ revenue) | 1.8% |
| Investing CF relative to operating CF | 8.6% |

## 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 | 6.5% | 0.70× | 4.5% | 3.09× | 13.9% | S100R6A5 |
| 2023 | 6.4% | 0.78× | 5.0% | 3.28× | 16.4% | S100TWZZ |
| 2024 | 6.6% | 0.70× | 4.7% | 3.72× | 17.4% | S100W658 |
| 2025 | 6.3% | 0.68× | 4.2% | 4.16× | 17.7% | S100YL8T |
| 2026 | 7.2% | 0.63× | 4.6% | 4.49× | 20.5% | S100YL8T |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 15.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.9% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５０２５（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.9% | 2026-03-31 |
| 徳山 教助 | Major shareholder | 3.3% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５００１（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.4% | 2026-03-31 |
| ＵＳ ＢＡＮＫ ＮＡＴＩＯＮＡＬ ＡＳＳＯＣＩＡＴＩＯＮ ＪＰ ＡＣＣＴＳ ＴＳ （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 2.4% | 2026-03-31 |
| 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 | 2.1% | 2026-03-31 |
| ＧＯＶＥＲＮＭＥＮＴ ＯＦ ＮＯＲＷＡＹ （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 2.1% | 2026-03-31 |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５０４４ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.0% | 2026-03-31 |
| テクマトリックス従業員持株会 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第42期(2025/04/01－2026/03/31) | S100YL8T | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YL8T,, |
| 有価証券報告書－第41期(2024/04/01－2025/03/31) | S100W658 | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W658,, |
| 有価証券報告書－第40期(2023/04/01－2024/03/31) | S100TWZZ | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWZZ,, |
| 有価証券報告書－第39期(2022/04/01－2023/03/31) | S100R6A5 | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6A5,, |
| 有価証券報告書－第38期(令和3年4月1日－令和4年3月31日) | S100OHNR | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHNR,, |
| 有価証券報告書－第37期(令和2年4月1日－令和3年3月31日) | S100LSVI | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSVI,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| RSA Security Japan合同会社 | Supply/OEM | テクマトリックスが RSA のセキュリティ製品を販売する代理店契約 | S100YL8T |
| F5 Inc. | Supply/OEM | テクマトリックスが F5 のインターネットトラフィック管理製品を販売する代理店契約 | S100YL8T |
| Parasoft Corporation | Supply/OEM | テクマトリックスが Parasoft のテストツールを販売する総代理店契約 | S100YL8T |
| FossID AB | Supply/OEM | テクマトリックスが FossID の OSS ライセンス・セキュリティ管理ツールを扱う契約 | S100YL8T |
| 株式会社エイチシーエル・ジャパン | Supply/OEM | テクマトリックスが Web サイト脆弱性監査ツールを販売する代理店契約 | S100YL8T |
| Musarubra Japan株式会社 | Supply/OEM | テクマトリックスがウイルス対策ゲートウェイ・不正侵入防御製品を販売する代理店契約 | S100YL8T |
| デル・テクノロジーズ株式会社 | Supply/OEM | テクマトリックスがデルのストレージ製品を販売する代理店契約 | S100YL8T |
| 株式会社アジャイルウェア | Supply/OEM | テクマトリックスがアジャイルウェアのプロジェクト管理ツールを販売する代理店契約 | S100YL8T |
| Scientific Toolworks Inc. | Supply/OEM | テクマトリックスがソースコード解析ツールを販売する総代理店契約 | S100YL8T |
| Palo Alto Networks, Inc. | Supply/OEM | テクマトリックスが Palo Alto Networks の次世代ファイアウォールを販売する代理店契約 | S100YL8T |
| Ranorex GmbH. | Supply/OEM | テクマトリックスが Ranorex の UI テスト自動化ツールを販売する総代理店契約 | S100YL8T |
| Tanium Inc. | Supply/OEM | テクマトリックスが Tanium のセキュリティ製品を販売する代理店契約 | S100YL8T |
| Proofpoint Inc. | Supply/OEM | テクマトリックスが Proofpoint のメールセキュリティ製品を販売する代理店契約 | S100YL8T |
| Tenable, Inc. | Supply/OEM | テクマトリックスが Tenable のセキュリティ製品を販売する代理店契約 | S100YL8T |
| Dispel Global,Inc | Supply/OEM | テクマトリックスが Dispel のセキュアリモートアクセス製品を販売する代理店契約 | S100YL8T |
| Pentera Security SG Pte Ltd. | Supply/OEM | テクマトリックスが Pentera の自動ペネトレーションテストツールを販売する代理店契約 | S100YL8T |
| Numerix Japan Co.,Ltd. | Supply/OEM | テクマトリックスが Numerix の金融商品評価製品を販売する代理店契約 | S100YL8T |
| Arctic Wolf Networks, Inc. | Supply/OEM | テクマトリックスが Arctic Wolf のアンチウイルスソフトウェアを販売する代理店契約 | S100YL8T |

## 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).