# unerry: 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11期(2025/07/01－2026/06/30) (S100Z46V)
> Page: https://vizora.meequs.com/en/company/unerry
> Retrieved: 2026-09-30T20:24:49.915Z

## Company

unerry, founded in 2015, is a company in Software & SaaS listed on TSE Growth. It has 161 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | unerry,Inc. |
| Ticker | 5034 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5034.T) |
| Listing | TSE Growth |
| Head office | 東京都港区虎ノ門4丁目1番1号 神谷町トラストタワー 23階 |
| Representative (per filing) | 代表取締役社長 執行役員CEO 内山 英俊 |
| Founded | Aug 2015 |
| Share capital | ¥49.3M |
| Employees (consolidated) | 161 |
| Average salary (parent only) | ¥7.8M |
| Fiscal year end | June |
| Website | www.unerry.co.jp (https://www.unerry.co.jp/) |
| Corporate number | 7010001169991 |
| EDINET | E37815 |
| Industries (Vizora) | Software & SaaS |

> Profile source: annual securities report (S100Z46V, filed 2026-09-25). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 40.3 | 145 |
| Cash conversion | 22.3 | 128 |
| Efficiency | 72.1 | 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)

- unerry brought in ¥4.88B in revenue.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +31.0% from the prior year, operating profit +36.1%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥4.88B |  |
| Operating income | ¥424.6M | Margin 8.7% |
| Net income | ¥330.1M | Margin 6.8% |
| Free cash flow | — |  |
| Employees (consolidated) | 161 |  |
| EPS | ¥90.02 |  |
| Diluted EPS | ¥86.09 |  |
| Book value per share | ¥633.02 |  |
| Equity ratio | 56.4% |  |
| Shares outstanding | 3,777,950 |  |
| Treasury shares | 33,000 |  |
| Shareholders | 1,907 |  |
| Average salary (parent only) | ¥7.8M | Filing company only |
| Cash ratio | 55.0% | Cash ÷ revenue 47.2% |
| Vs. industry median margin | -3.7 pp | Software & SaaS |
| ROE | 14.0% | Derived from disclosed figures |
| ROA | 7.9% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 55% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥783018000 | ¥4879542000 | — |
| Operating income | ¥-160170000 | ¥424591000 | — |
| Operating margin | -20.5% | 8.7% | +29.2 pp |
| Employees | 28 people | 161 people | — |
| Cash and equivalents | ¥800333000 | ¥2301594000 | — |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,880 | 100.0% | S100Z46V |
| Cost of revenue | 3,052 | 62.6% | S100Z46V |
| Gross profit | 1,827 | 37.4% | S100Z46V |
| SG&A | 1,403 | 28.7% | S100Z46V |
| Operating income | 425 | 8.7% | S100Z46V |
| Ordinary income | 433 | 8.9% | S100Z46V |
| Pretax income | 433 | 8.9% | S100Z46V |
| Income tax | 103 | 2.1% | S100Z46V |
| Net income | 330 | 6.8% | S100Z46V |
| Net income attributable to owners | 330 | 6.8% | S100Z46V |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 62 |
| SG&A | 29 |
| Operating income | 9 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 37.4% → Operating margin 8.7% → Net margin 6.8%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 3,726 | 4,880 | 1,153 | +31.0% |
| Gross profit | 1,465 | 1,827 | 362 | +24.7% |
| Operating income | 312 | 425 | 113 | +36.1% |
| Operating cash flow | 230 | 328 | 98 | +42.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2021 | 783 | -160 | -20.5% | -163 | -174 | — | S100P8NY |
| FY ending Jun 2022 | 1,446 | 75 | 5.2% | 144 | 69 | — | S100RXST |
| FY ending Jun 2023 | 2,077 | 35 | 1.7% | 9 | 28 | — | S100UFQ2 |
| FY ending Jun 2024 | 2,835 | 179 | 6.3% | 68 | 180 | — | S100WRCL |
| FY ending Jun 2025 | 3,726 | 312 | 8.4% | 332 | 230 | — | S100WRCL |
| FY ending Jun 2026 | 4,880 | 425 | 8.7% | 330 | 328 | — | S100Z46V |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥30.3M |
| Operating income per employee (consolidated) | ¥2.6M |
| Net income per employee (consolidated) | ¥2.1M |

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) | 39 | 59 | 72 | 91 | 161 |
| Average salary (parent company) | ¥5.9M | ¥6.4M | ¥6.7M | ¥7.5M | ¥7.8M |
| Average age (parent company) | 34.7 years | 35.1 years | 34.0 years | 35.1 years | 35.2 years |
| Average tenure (parent company) | 2.0 years | 2.0 years | 2.1 years | 2.3 years | 2.6 years |

## 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 | 328 | 6.7% | S100Z46V |
| Investing cash flow | -599 | -12.3% | S100Z46V |
| Financing cash flow | 742 | 15.2% | S100Z46V |
| Change in cash | 470 | 9.6% | S100Z46V |
| Cash and equivalents | 2,302 | 47.2% | S100Z46V |

## 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 | 901 | 1,127 | 1,659 | 1,832 | 2,302 | S100UFQ2, S100WRCL, S100Z46V |
| Total assets | 1,204 | 1,511 | 2,103 | 2,616 | 4,188 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Net assets | 821 | 1,097 | 1,629 | 2,017 | 2,366 | S100UFQ2, S100WRCL, S100Z46V |
| Share capital | 100 | 18 | 15 | 42 | 49 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Inventories | 22 | 24 | 19 | 23 | 36 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Intangible assets excluding goodwill | 0 | 0 | 0 | 9 | 621 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Goodwill | — | — | — | — | 497 | S100Z46V |
| Investment securities | — | — | — | 50 | 50 | S100WRCL, S100Z46V |
| Current assets | 1,128 | 1,416 | 2,073 | 2,392 | 3,284 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Current liabilities | 278 | 413 | 474 | 599 | 1,235 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Long-term borrowings | 105 | — | — | — | 588 | S100RXST, S100Z46V |
| Total liabilities | 383 | 413 | 474 | 599 | 1,822 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Equity attributable to owners of parent | 818 | 1,094 | 1,627 | 2,015 | 2,364 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Retained earnings | 144 | 153 | 221 | 553 | 883 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |
| Treasury stock | -14 | -2 | -2 | -2 | -2 | S100RXST, S100UFQ2, S100WRCL, S100Z46V |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 55% | S100Z46V |
| Inventories | 1% | S100Z46V |
| Intangibles and goodwill | 27% | S100Z46V |
| Investment securities | 1% | S100Z46V |
| Other assets | 16% | S100Z46V |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 44% | S100Z46V |
| Equity | 56% | S100Z46V |
| Other liabilities | 0% | S100Z46V |

### 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 | 1,204 | 1,511 | 2,103 | 2,616 | 4,188 |
| Equity | 821 | 1,097 | 1,629 | 2,017 | 2,366 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 901 | 1,127 | 1,659 | 1,832 | 2,302 |

## 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) | — | —, S100Z46V |
| Fixed assets ÷ total assets | — | —, S100Z46V |
| Goodwill ÷ parent equity | 21.0% | S100Z46V |

### 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) | 55.0% |
| Cash ÷ revenue | 47.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 77.2% |
| Cash vs. profit gap | -2 JPY mn (of net income -0.7%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | — |
| Investing CF relative to operating CF | 182.9% |

## 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 | 9.9% | 1.20× | 11.9% | 1.47× | 17.6% | S100RXST |
| 2023 | 0.5% | 1.53× | 0.7% | 1.42× | 1.0% | S100UFQ2 |
| 2024 | 2.4% | 1.57× | 3.8% | 1.33× | 5.0% | S100WRCL |
| 2025 | 8.9% | 1.58× | 14.1% | 1.30× | 18.2% | S100WRCL |
| 2026 | 6.8% | 1.17× | 7.9% | 1.77× | 14.0% | S100Z46V |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 内山 英俊 | Major shareholder | 28.4% | 2026-06-30 |
| 株式会社UC AIR | Major shareholder | 14.1% | 2026-06-30 |
| 三菱商事株式会社 | Major shareholder | 8.1% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.5% | 2026-06-30 |
| 鈴木 茂二郎 | Major shareholder | 4.4% | 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 | 3.2% | 2026-06-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 2.6% | 2026-06-30 |
| 三菱食品株式会社 | Major shareholder | 2.4% | 2026-06-30 |
| 株式会社電通グループ | Major shareholder | 2.1% | 2026-06-30 |
| 楽天証券株式会社共有口 | Major shareholder | 1.6% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第11期(2025/07/01－2026/06/30) | S100Z46V | 2026-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z46V,, |
| 有価証券報告書－第10期(2024/07/01－2025/06/30) | S100WRCL | 2025-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WRCL,, |
| 有価証券報告書－第9期(2023/07/01－2024/06/30) | S100UFQ2 | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UFQ2,, |
| 有価証券報告書－第8期(2022/07/01－2023/06/30) | S100RXST | 2023-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RXST,, |
| 有価証券報告書－第7期(令和3年7月1日－令和4年6月30日) | S100P8NY | 2022-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P8NY,, |

## 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).