# Temairazu, Inc.: business model and financials

> Latest period: FY ending Jun 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第23期(2025/07/01－2026/06/30) (S100Z3MW)
> Page: https://vizora.meequs.com/en/company/temairazu
> Retrieved: 2026-09-30T20:26:23.032Z

## Company

Temairazu, founded in 2003, is a company in Software & SaaS listed on TSE Standard. It has 44 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Temairazu, Inc. |
| Ticker | 2477 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2477.T) |
| Listing | TSE Standard |
| Head office | 東京都渋谷区恵比寿一丁目21番3号 |
| Representative (per filing) | 代表取締役社長 渡邉 哲男 |
| Founded | Aug 2003 |
| Share capital | ¥718.6M |
| Employees (consolidated) | 44 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | June |
| Website | www.temairazu.co.jp (https://www.temairazu.co.jp/) |
| Corporate number | 6011001044649 |
| EDINET | E05564 |
| Industries (Vizora) | Software & SaaS, Internet Services & Apps |

> Profile source: annual securities report (S100Z3MW, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Software & SaaS (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 44.3 | 105 |
| Profitability | 99.7 | 145 |
| Cash conversion | 12.9 | 128 |
| Efficiency | 2.4 | 145 |

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 100% of Temairazu's sales come from Application Service, with Internet media making up much of the rest.
- Out of every ¥100 of sales, about ¥72 is left as operating profit.
- Revenue changed +10.5% from the prior year, operating profit +8.6%.

## Company structure

- Segment revenue mix: Application Service 99.8%、Internet media 0.2%
- Revenue → net income: ¥2414083000 → ¥1172193000
- Net income → operating cash flow: ¥1172193000 → ¥1161679000（difference ¥-10514000）
- Main uses of operating cash flow: CapEx ¥2093000 / dividends ¥241678000 / buybacks ¥1046091000
- Change in cash: ¥-177895000
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 | ¥2.41B |  |
| Operating income | ¥1.75B | Margin 72.4% |
| Net income | ¥1.17B | Margin 48.6% |
| Free cash flow | ¥1.16B |  |
| Largest business | Application Service | of segment revenue 99.8% |
| Employees (consolidated) | 44 |  |
| EPS | ¥192.25 |  |
| Book value per share | ¥1123.06 |  |
| Equity ratio | 93.2% |  |
| Shares outstanding | 6,480,961 |  |
| Treasury shares | 551,800 |  |
| Shareholders | 1,810 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 89.7% | Cash ÷ revenue 265.5% |
| Vs. industry median margin | +59.9 pp | Software & SaaS |
| ROE | 17.5% | Derived from disclosed figures |
| ROA | 16.3% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 4.3× dividends
- FY2026, one segment accounts for 100% of positive segment profit
- FY2026, cash is 90% of total assets

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1610382000 | ¥2414083000 | +49.9% |
| Operating income | ¥1144273000 | ¥1747457000 | +52.7% |
| Operating margin | 71.1% | 72.4% | +1.3 pp |
| Employees | 38 people | 44 people | +15.8% |
| Cash and equivalents | ¥4484099000 | ¥6410138000 | +43.0% |

### 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 |
| --- | ---: |
| 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 | 97.2% |
| インターネットメディア事業 → インターネットメディア事業 | 0.2% |
| インターネットメディア事業 → 事業再編・廃止 | 2.5% |
| 新設・再編 → アプリケーションサービス事業 | 2.5% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,414 | 100.0% | S100Z3MW |
| Cost of revenue | 284 | 11.7% | S100Z3MW |
| Gross profit | 2,130 | 88.3% | S100Z3MW |
| SG&A | 383 | 15.9% | S100Z3MW |
| Operating income | 1,747 | 72.4% | S100Z3MW |
| Ordinary income | 1,774 | 73.5% | S100Z3MW |
| Pretax income | 1,774 | 73.5% | S100Z3MW |
| Income tax | 602 | 24.9% | S100Z3MW |
| Net income | 1,172 | 48.6% | S100Z3MW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 12 |
| SG&A | 16 |
| Operating income | 72 |
| (Ref.) Net income | 49 |

### Margin funnel

Gross margin 88.3% → Operating margin 72.4% → Net margin 48.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.5%; Core profit growth: +8.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.82×
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 | 2,185 | 2,414 | 229 | +10.5% |
| Gross profit | 1,941 | 2,130 | 190 | +9.8% |
| Operating income | 1,609 | 1,747 | 139 | +8.6% |
| Operating cash flow | 1,056 | 1,162 | 105 | +10.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 1,650 | 1,164 | 70.5% | 767 | 842 | 840 | S100ME69 |
| FY ending Jun 2021 | 1,610 | 1,144 | 71.1% | 758 | 690 | 688 | S100P7UU |
| FY ending Jun 2022 | 1,631 | 1,168 | 71.6% | 783 | 731 | — | S100RWYP |
| FY ending Jun 2023 | 1,809 | 1,332 | 73.6% | 874 | 965 | 960 | S100UB0G |
| FY ending Jun 2024 | 2,024 | 1,477 | 73.0% | 976 | 949 | 943 | S100WQOA |
| FY ending Jun 2025 | 2,185 | 1,609 | 73.6% | 1,067 | 1,056 | — | S100Z3MW |
| FY ending Jun 2026 | 2,414 | 1,747 | 72.4% | 1,172 | 1,162 | 1,160 | S100Z3MW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥54.9M |
| Operating income per employee (consolidated) | ¥39.7M |
| Net income per employee (consolidated) | ¥26.6M |

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) | 33 | 38 | 41 | 41 | 44 |
| Average salary (parent company) | ¥5M | ¥5.3M | ¥5.1M | ¥5.2M | ¥5.6M |
| Average age (parent company) | 35.0 years | 34.9 years | 34.2 years | 34.0 years | 34.7 years |
| Average tenure (parent company) | 3.9 years | 4.2 years | 4.1 years | 4.3 years | 4.6 years |

Year over year: Employees (consolidated) +7.3% · Revenue (consolidated) +10.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Application Service | 2,409 | 99.8% | 1,915 | 79.5% |
| Internet media | 6 | 0.2% | -2 | -43.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Application Service | 99.8% | 100.0% | 0.2 | 79.5% |
| Internet media | 0.2% | — | — | -43.9% |

Loss-making segment (excluded from profit shares): Internet media -2 JPY mn

Segment → industry: Application Service → Software & SaaS / Internet media → Internet Services & Apps

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,162 | 48.1% | S100Z3MW |
| Capital expenditure | 2 | 0.1% | S100Z3MW |
| Free cash flow | 1,160 | 48.0% | 算出 |
| Investing cash flow | -2 | -0.1% | S100Z3MW |
| Financing cash flow | -1,337 | -55.4% | S100Z3MW |
| Dividends paid | 242 | 10.0% | S100Z3MW |
| Share buyback | 1,046 | 43.3% | S100Z3MW |
| Change in cash | -178 | -7.4% | S100Z3MW |
| Cash and equivalents | 6,410 | 265.5% | S100Z3MW |

## 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 | 5,047 | 5,826 | 6,565 | 6,588 | 6,410 | S100UB0G, S100WQOA, S100Z3MW |
| Total assets | 5,378 | 6,182 | 6,978 | 7,218 | 7,145 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Net assets | 5,089 | 5,784 | 6,558 | 6,768 | 6,659 | S100UB0G, S100WQOA, S100Z3MW |
| Share capital | 717 | 717 | 718 | 719 | 719 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Property, plant and equipment | 1 | 2 | 4 | 2 | 3 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Intangible assets excluding goodwill | 2 | 4 | 6 | 5 | 3 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Current assets | 5,323 | 6,117 | 6,899 | 7,144 | 7,060 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Current liabilities | 289 | 397 | 420 | 450 | 487 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Total liabilities | 289 | 397 | 420 | 450 | 487 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Equity attributable to owners of parent | 5,089 | 5,784 | 6,558 | 6,768 | 6,659 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Retained earnings | 3,365 | 4,058 | 4,830 | 5,671 | 6,601 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |
| Treasury stock | -1 | -1 | -1 | -633 | -1,673 | S100RWYP, S100UB0G, S100WQOA, S100Z3MW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 90% | S100Z3MW |
| Property, plant and equipment | 0% | S100Z3MW |
| Intangibles and goodwill | 0% | S100Z3MW |
| Other assets | 10% | S100Z3MW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 7% | S100Z3MW |
| Equity | 93% | S100Z3MW |
| Other liabilities | 0% | S100Z3MW |

### 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 | 5,378 | 6,182 | 6,978 | 7,218 | 7,145 |
| Equity | 5,089 | 5,784 | 6,558 | 6,768 | 6,659 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,047 | 5,826 | 6,565 | 6,588 | 6,410 |

## 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) | 0.1% | S100Z3MW |
| Fixed assets ÷ total assets | 0.0% | S100Z3MW |
| Goodwill ÷ parent equity | — | —, S100Z3MW |

### 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) | 89.7% |
| Cash ÷ revenue | 265.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 66.5% |
| Cash vs. profit gap | -11 JPY mn (of net income -0.9%) |
| Shareholder returns / net income | 109.9% |
| Shareholder returns / FCF | 111.1% |
| Shareholder payments — dividends / net income | 20.6% |
| Shareholder payments — dividends / FCF | 20.8% |
| CapEx intensity (capex ÷ revenue) | 0.1% |
| Investing CF relative to operating CF | 0.2% |

## 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 | 48.0% | 0.30× | 14.6% | 1.06× | 15.4% | S100RWYP |
| 2023 | 48.3% | 0.31× | 15.1% | 1.06× | 16.1% | S100UB0G |
| 2024 | 48.2% | 0.31× | 14.8% | 1.07× | 15.8% | S100WQOA |
| 2025 | 48.8% | 0.31× | 15.0% | 1.07× | 16.0% | S100Z3MW |
| 2026 | 48.6% | 0.34× | 16.3% | 1.07× | 17.5% | S100Z3MW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 68k株式会社 | Major shareholder | 55.5% | 2026-06-30 |
| 渡邉 哲男 | Major shareholder | 9.9% | 2026-06-30 |
| 株式会社ＵＨ６ | Major shareholder | 6.6% | 2026-06-30 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 5.3% | 2026-06-30 |
| THE CHASE MANHATTAN BANK, N.A. LONDONSECS LENDINGOMNIBUS ACCOUNT（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.4% | 2026-06-30 |
| 光通信株式会社 | Major shareholder | 1.1% | 2026-06-30 |
| THE BANK OF NEW YORK MELLON 140040 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.1% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 0.7% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口４） | Major shareholder | 0.7% | 2026-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.6% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第23期(2025/07/01－2026/06/30) | S100Z3MW | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3MW,, |
| 有価証券報告書－第22期(2024/07/01－2025/06/30) | S100WQOA | 2025-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WQOA,, |
| 有価証券報告書－第21期(2023/07/01－2024/06/30) | S100UB0G | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UB0G,, |
| 有価証券報告書－第20期(2022/07/01－2023/06/30) | S100RWYP | 2023-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RWYP,, |
| 有価証券報告書－第19期(令和3年7月1日－令和4年6月30日) | S100P7UU | 2022-09-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P7UU,, |
| 有価証券報告書－第18期(令和2年7月1日－令和3年6月30日) | S100ME69 | 2021-09-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ME69,, |

## 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).