# Ubiteq,INC.: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第50期(2025/07/01－2026/06/30) (S100Z42X)
> Page: https://vizora.meequs.com/en/company/ubiteq
> Retrieved: 2026-09-30T18:48:00.599Z

## Company

Ubiteq, founded in 1977, is a company in IT Services & System Integration listed on TSE Standard. It has 78 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Ubiteq, INC. |
| Ticker | 6662 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6662.T) |
| Listing | TSE Standard |
| Head office | 東京都港区南麻布三丁目20番1号 |
| Representative (per filing) | 代表取締役社長 池田 学 |
| Founded | Nov 1977 |
| Share capital | ¥941.5M |
| Employees (consolidated) | 78 |
| Average salary (parent only) | ¥5.7M |
| Fiscal year end | June |
| Website | www.ubiteq.co.jp (https://www.ubiteq.co.jp/) |
| Corporate number | 9010701021368 |
| EDINET | E02100 |
| Industries (Vizora) | IT Services & System Integration, Software & SaaS, Electronic Components |

> Profile source: annual securities report (S100Z42X, filed 2026-09-25). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 16.9 | 145 |
| Cash conversion | 96.5 | 128 |
| Efficiency | 35.5 | 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 79% of Ubiteq's sales come from IoT, with Entrusted development and Entrusted manufacturing making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +5.5% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: IoT 78.6%、Entrusted development 12.9%、Entrusted manufacturing 8.5%
- Revenue → net income: ¥1304138000 → ¥49235000
- Net income → operating cash flow: ¥49235000 → ¥188739000（difference ¥139504000）
- Main uses of operating cash flow: CapEx ¥71566000 / dividends — / buybacks —
- Change in cash: ¥117233000
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 | ¥1.3B |  |
| Operating income | ¥49.4M | Margin 3.8% |
| Net income | ¥49.7M | Margin 3.8% |
| Free cash flow | ¥117.2M |  |
| Largest business | IoT | of segment revenue 78.6% |
| Employees (consolidated) | 78 |  |
| EPS | ¥3.9 |  |
| Book value per share | ¥82.92 |  |
| Equity ratio | 85.1% |  |
| Shares outstanding | 14,791,600 |  |
| Shareholders | 2,188 |  |
| Average salary (parent only) | ¥5.7M | Filing company only |
| Cash ratio | 75.7% | Cash ÷ revenue 104.4% |
| Vs. industry median margin | -8.7 pp | Software & SaaS |
| ROE | 3.3% | Derived from disclosed figures |
| ROA | 2.8% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.8× net income
- FY2026, one segment accounts for 88% of positive segment profit
- FY2026, cash is 76% of total assets

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1291069000 | ¥1304138000 | +1.0% |
| Operating income | ¥-138676000 | ¥49373000 | — |
| Operating margin | -10.7% | 3.8% | +14.5 pp |
| Employees | 82 people | 78 people | -4.9% |
| Cash and equivalents | ¥2032444000 | ¥1361958000 | -33.0% |

### 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 |
| --- | ---: |
| IoT事業 → IoT事業 | 37.5% |
| 製造受託事業 → 製造受託事業 | 8.5% |
| 製造受託事業 → 事業再編・廃止 | 28.8% |
| 開発受託事業 → 開発受託事業 | 12.9% |
| 開発受託事業 → 事業再編・廃止 | 12.3% |
| 新設・再編 → IoT事業 | 41.1% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| IoT | 5 years | +16.2% | ¥1024781000 | 27.0% | 2 |
| Entrusted development | 5 years | -12.4% | ¥168466000 | -6.8% | 2 |
| Entrusted manufacturing | 5 years | -25.4% | ¥110890000 | 33.4% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,304 | 100.0% | S100Z42X |
| Cost of revenue | 777 | 59.6% | S100Z42X |
| Gross profit | 527 | 40.4% | S100Z42X |
| SG&A | 478 | 36.6% | S100Z42X |
| Operating income | 49 | 3.8% | S100Z42X |
| Ordinary income | 52 | 4.0% | S100Z42X |
| Pretax income | 52 | 4.0% | S100Z42X |
| Income tax | 2 | 0.2% | S100Z42X |
| Net income | 49 | 3.8% | S100Z42X |
| Net income attributable to owners | 50 | 3.8% | S100Z42X |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 59 |
| SG&A | 37 |
| Operating income | 4 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 40.4% → Operating margin 3.8% → Net margin 3.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
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 | 1,236 | 1,304 | 69 | +5.5% |
| Gross profit | 349 | 527 | 178 | +51.1% |
| Operating income | -167 | 49 | 217 | — |
| Net income attributable to owners | -494 | 50 | 544 | — |
| Operating cash flow | 36 | 189 | 153 | +429.3% |
| Free cash flow | -190 | 117 | 307 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 1,764 | 52 | 2.9% | 40 | 38 | -54 | S100MHGB |
| FY ending Jun 2021 | 1,291 | -139 | -10.7% | -449 | -128 | -197 | S100P900 |
| FY ending Jun 2022 | 1,171 | -208 | -17.7% | -211 | -221 | -316 | S100RX4I |
| FY ending Jun 2023 | 985 | -227 | -23.0% | -289 | -90 | -201 | S100UFKH |
| FY ending Jun 2024 | 1,016 | -246 | -24.2% | -344 | -358 | -583 | S100YTAR |
| FY ending Jun 2025 | 1,236 | -167 | -13.6% | -494 | 36 | -190 | S100Z42X |
| FY ending Jun 2026 | 1,304 | 49 | 3.8% | 50 | 189 | 117 | S100Z42X |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥16.7M |
| Operating income per employee (consolidated) | ¥633K |
| Net income per employee (consolidated) | ¥636.6K |

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) | 80 | 76 | 76 | 81 | 78 |
| Average salary (parent company) | ¥6.2M | ¥5.8M | ¥5.7M | ¥5.7M | ¥5.7M |
| Average age (parent company) | 42.2 years | 42.3 years | 42.4 years | 42.2 years | 42.7 years |
| Average tenure (parent company) | 10.4 years | 10.6 years | 10.0 years | 8.8 years | 9.1 years |

Year over year: Employees (consolidated) -3.7% · Revenue (consolidated) +5.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| IoT | 1,025 | 78.6% | 277 | 27.0% |
| Entrusted manufacturing | 111 | 8.5% | 37 | 33.4% |
| Entrusted development | 168 | 12.9% | -11 | -6.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| IoT | 78.6% | 88.2% | 9.6 | 27.0% |
| Entrusted manufacturing | 8.5% | 11.8% | 3.3 | 33.4% |
| Entrusted development | 12.9% | — | — | -6.8% |

Loss-making segment (excluded from profit shares): Entrusted development -11 JPY mn

Segment → industry: Entrusted development → IT Services & System Integration / IoT → Software & SaaS / Entrusted manufacturing → Electronic Components

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 189 | 14.5% | S100Z42X |
| Capital expenditure | 72 | 5.5% | S100Z42X |
| Free cash flow | 117 | 9.0% | 算出 |
| Investing cash flow | -72 | -5.5% | S100Z42X |
| Change in cash | 117 | 9.0% | S100Z42X |
| Cash and equivalents | 1,362 | 104.4% | S100Z42X |

## 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 | 1,718 | 1,517 | 1,434 | 1,245 | 1,362 | S100UFKH, S100YTAR, S100Z42X |
| Total assets | 2,929 | 2,627 | 2,364 | 1,701 | 1,799 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Net assets | 2,656 | 2,353 | 2,009 | 1,515 | 1,564 | S100UFKH, S100YTAR, S100Z42X |
| Share capital | 941 | 941 | 941 | 941 | 941 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Property, plant and equipment | 113 | 106 | 145 | 1 | 3 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Intangible assets excluding goodwill | 89 | 50 | 97 | — | 64 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Current assets | 2,694 | 2,439 | 2,089 | 1,668 | 1,679 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Current liabilities | 257 | 269 | 350 | 181 | 230 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Trade payables | 104 | 46 | 66 | 10 | — | S100RX4I, S100UFKH, S100YTAR |
| Total liabilities | 273 | 274 | 355 | 186 | 235 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Non-controlling interests | 32 | 32 | 33 | 33 | 32 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Equity attributable to owners of parent | 2,609 | 2,320 | 1,976 | 1,482 | 1,532 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |
| Retained earnings | 1,013 | 723 | 379 | -115 | -65 | S100RX4I, S100UFKH, S100YTAR, S100Z42X |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 76% | S100Z42X |
| Property, plant and equipment | 0% | S100Z42X |
| Intangibles and goodwill | 3% | S100Z42X |
| Other assets | 21% | S100Z42X |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 13% | S100Z42X |
| Equity | 87% | S100Z42X |

### 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 | 2,929 | 2,627 | 2,364 | 1,701 | 1,799 |
| Equity | 2,656 | 2,353 | 2,009 | 1,515 | 1,564 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,718 | 1,517 | 1,434 | 1,245 | 1,362 |

## 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) | 0.2% | S100Z42X |
| Fixed assets ÷ total assets | 0.1% | S100Z42X |
| Goodwill ÷ parent equity | — | —, S100Z42X |

### 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) | 75.7% |
| Cash ÷ revenue | 104.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 382.3% |
| Cash vs. profit gap | 139 JPY mn (of net income 280.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.5% |
| Investing CF relative to operating CF | 37.9% |

## 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 | — | —× | -7.2% | —× | — | S100RX4I |
| 2023 | — | —× | -10.4% | —× | — | S100UFKH |
| 2024 | — | —× | -13.8% | —× | — | S100YTAR |
| 2025 | — | —× | -24.3% | —× | — | S100Z42X |
| 2026 | 3.8% | 0.75× | 2.8% | 1.16× | 3.3% | S100Z42X |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| オリックス株式会社 | Major shareholder | 57.6% | 2026-06-30 |
| 東海東京証券株式会社 | Major shareholder | 4.5% | 2026-06-30 |
| 糸谷 輝夫 | Major shareholder | 4.4% | 2026-06-30 |
| ＧＭＯクリック証券株式会社 | Major shareholder | 4.0% | 2026-06-30 |
| 株式会社ＤＭＭ．ｃｏｍ証券 | Major shareholder | 3.0% | 2026-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 1.9% | 2026-06-30 |
| 後和 信英 | Major shareholder | 1.4% | 2026-06-30 |
| 綾部 利華 | Major shareholder | 1.4% | 2026-06-30 |
| 市嶋 朋子 | Major shareholder | 1.0% | 2026-06-30 |
| 叶 毓菁 | Major shareholder | 0.9% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第50期(2025/07/01－2026/06/30) | S100Z42X | 2026-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z42X,, |
| 訂正有価証券報告書－第49期(2024/07/01－2025/06/30) | S100YTAR | 2026-07-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YTAR,, |
| 有価証券報告書－第48期(2023/07/01－2024/06/30) | S100UFKH | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFKH,, |
| 有価証券報告書－第47期(2022/07/01－2023/06/30) | S100RX4I | 2023-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RX4I,, |
| 有価証券報告書－第46期(令和3年7月1日－令和4年6月30日) | S100P900 | 2022-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P900,, |
| 有価証券報告書－第45期(令和2年7月1日－令和3年6月30日) | S100MHGB | 2021-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MHGB,, |

## 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).