# VECTOR INC.: business model and financials

> Latest period: FY ending Feb 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第34期(2025/03/01－2026/02/28) (S100Y7XO)
> Page: https://vizora.meequs.com/en/company/vector
> Retrieved: 2026-09-30T21:03:24.288Z

## Company

Vector, founded in 1993, is a company in Venture Capital listed on TSE Prime. It has 1,571 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | VECTOR INC. |
| Ticker | 6058 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6058.T) |
| Listing | TSE Prime |
| Head office | 東京都港区赤坂四丁目15番1号 |
| Representative (per filing) | 代表取締役社長CEO 西江 肇司 |
| Founded | Mar 1993 |
| Share capital | ¥3.04B |
| Employees (consolidated) | 1,571 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | February |
| Corporate number | 6010401027065 |
| EDINET | E26428 |
| Industries (Vizora) | Venture Capital, HR & Staffing, PR & IR Services, Advertising, Catalog & TV Shopping |

> Profile source: annual securities report (S100Y7XO, filed 2026-06-01). As of filing

## Five-axis industry profile

Primary industry: Advertising (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 65.8 | 57 |
| Profitability | 89 | 86 |
| Cash conversion | 70 | 75 |
| Efficiency | 61 | 86 |
| Financial strength | 70 | 5 |

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 54% of Vector's sales come from Public relations and Advertising business, with Direct marketing business and Press release distribution business making up much of the rest.
- Out of every ¥100 of sales, about ¥14 is left as operating profit.
- Revenue changed +7.7% from the prior year, operating profit +13.5%.

## Company structure

- Segment revenue mix: Public relations and Advertising business 54.5%、Direct marketing business 25.6%、Press release distribution business 14.8%、Human Resource business 4.7%、Investment business 0.5%
- Revenue → net income: ¥63794000000 → ¥6335000000
- Net income → operating cash flow: ¥6335000000 → ¥10349000000（difference ¥4014000000）
- Main uses of operating cash flow: CapEx ¥1084000000 / dividends ¥1498000000 / buybacks —
- Change in cash: ¥5148000000
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 | ¥63.8B |  |
| Operating income | ¥9.12B | Margin 14.3% |
| Net income | ¥5.11B | Margin 8.0% |
| Free cash flow | ¥9.27B |  |
| Largest business | Public relations and Advertising business | of segment revenue 54.5% |
| Employees (consolidated) | 1,571 |  |
| EPS | ¥50.03 |  |
| Book value per share | ¥172.9 |  |
| Equity ratio | 44.7% |  |
| Shares outstanding | 46,914,039 |  |
| Treasury shares | 9,600 |  |
| Shareholders | 6,834 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 47.1% | Net cash ¥15.8B · Cash ÷ revenue 34.9% |
| Vs. industry median margin | +0.9 pp | PR & IR Services |
| ROE | 27.5% | Derived from disclosed figures |
| ROA | 11.3% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.0× net income
- FY2026, cash is 47% of total assets
- FY2026, segment profit share differs by 23 points

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥37273000000 | ¥63794000000 | +71.2% |
| Operating income | ¥2314000000 | ¥9116000000 | +293.9% |
| Operating margin | 6.2% | 14.3% | +8.1 pp |
| Employees | 1,288 people | 1,571 people | +22.0% |
| Cash and equivalents | ¥10852000000 | ¥22273000000 | +105.2% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| ＰＲ・広告事業 → 事業再編・廃止 | 46.9% |
| プレスリリース配信事業 → プレスリリース配信事業 | 9.7% |
| ダイレクトマーケティング事業 → ダイレクトマーケティング事業 | 25.6% |
| ダイレクトマーケティング事業 → 事業再編・廃止 | 4.8% |
| ビデオリリース配信事業 → 事業再編・廃止 | 2.9% |
| HR事業 → HR事業 | 4.7% |
| HR事業 → 事業再編・廃止 | 2.5% |
| メディア事業 → 事業再編・廃止 | 1.6% |
| ファンド事業 → 事業再編・廃止 | 1.3% |
| 新設・再編 → ＰＲ・広告事業 | 54.5% |
| 新設・再編 → プレスリリース配信事業 | 5.1% |
| 新設・再編 → 投資事業 | 0.5% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Public relations and Advertising business | 4 years | +7.8% | ¥34750000000 | 14.1% | 2 |
| Direct marketing business | 5 years | +7.6% | ¥16348000000 | 7.0% | 2 |
| Press release distribution business | 5 years | +21.1% | ¥9425000000 | 38.4% | 2 |
| Human Resource business | 5 years | +2.2% | ¥2980000000 | -0.8% | 2 |
| Investment business | 4 years | -30.5% | ¥288000000 | -179.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 63,794 | 100.0% | S100Y7XO |
| Cost of revenue | 21,144 | 33.1% | S100Y7XO |
| Gross profit | 42,649 | 66.9% | S100Y7XO |
| SG&A | 33,533 | 52.6% | S100Y7XO |
| Operating income | 9,116 | 14.3% | S100Y7XO |
| Ordinary income | 9,144 | 14.3% | S100Y7XO |
| Pretax income | 8,891 | 13.9% | S100Y7XO |
| Income tax | 2,555 | 4.0% | S100Y7XO |
| Net income | 6,335 | 9.9% | S100Y7XO |
| Net income attributable to owners | 5,109 | 8.0% | S100Y7XO |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 33 |
| SG&A | 53 |
| Operating income | 14 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 66.9% → Operating margin 14.3% → Net margin 8.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.7%; Core profit growth: +13.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.77×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 59,254 | 63,794 | 4,540 | +7.7% |
| Gross profit | 39,308 | 42,649 | 3,341 | +8.5% |
| Operating income | 8,029 | 9,116 | 1,087 | +13.5% |
| Net income attributable to owners | 4,195 | 5,109 | 914 | +21.8% |
| Operating cash flow | 5,675 | 10,349 | 4,674 | +82.4% |
| Free cash flow | 4,645 | 9,265 | 4,620 | +99.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 36,822 | 2,891 | 7.9% | -199 | 2,869 | 2,458 | S100LFIO |
| FY ending Feb 2021 | 37,273 | 2,314 | 6.2% | 486 | 2,129 | 1,587 | S100O512 |
| FY ending Feb 2022 | 48,122 | 5,128 | 10.7% | 2,071 | 4,977 | 4,082 | S100QUZ2 |
| FY ending Feb 2023 | 55,225 | 6,276 | 11.4% | 3,172 | 1,457 | 950 | S100TJAS |
| FY ending Feb 2024 | 59,212 | 6,939 | 11.7% | 4,684 | 4,451 | 3,546 | S100VUW7 |
| FY ending Feb 2025 | 59,254 | 8,029 | 13.6% | 4,195 | 5,675 | 4,645 | S100Y7XO |
| FY ending Feb 2026 | 63,794 | 9,116 | 14.3% | 5,109 | 10,349 | 9,265 | S100Y7XO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥40.6M |
| Operating income per employee (consolidated) | ¥5.8M |
| Net income per employee (consolidated) | ¥3.3M |

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

| History | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,303 | 1,427 | 1,548 | 1,650 | 1,571 |
| Average salary (parent company) | ¥7.8M | ¥6.6M | ¥6.4M | ¥6.8M | ¥6.6M |
| Average age (parent company) | 32.8 years | 31.7 years | 32.4 years | 34.5 years | 35.4 years |
| Average tenure (parent company) | 2.7 years | 2.6 years | 2.4 years | 2.7 years | 3.2 years |

Year over year: Employees (consolidated) -4.8% · Revenue (consolidated) +7.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Public relations and Advertising business | 34,750 | 54.5% | 4,898 | 14.1% |
| Press release distribution business | 9,425 | 14.8% | 3,622 | 38.4% |
| Direct marketing business | 16,348 | 25.6% | 1,137 | 7.0% |
| Human Resource business | 2,980 | 4.7% | -23 | -0.8% |
| Investment business | 288 | 0.5% | -518 | -179.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Public relations and Advertising business | 54.5% | 50.7% | -3.8 | 14.1% |
| Press release distribution business | 14.8% | 37.5% | 22.7 | 38.4% |
| Direct marketing business | 25.6% | 11.8% | -13.9 | 7.0% |
| Human Resource business | 4.7% | — | — | -0.8% |
| Investment business | 0.5% | — | — | -179.9% |

Loss-making segment (excluded from profit shares): Human Resource business -23 JPY mn

Loss-making segment (excluded from profit shares): Investment business -518 JPY mn

Segment → industry: Investment business → Venture Capital / Human Resource business → HR & Staffing / Press release distribution business → PR & IR Services / Public relations and Advertising business → PR & IR Services / Public relations and Advertising business → Advertising / Direct marketing business → Catalog & TV Shopping

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 10,349 | 16.2% | S100Y7XO |
| Capital expenditure | 1,084 | 1.7% | S100Y7XO |
| Free cash flow | 9,265 | 14.5% | 算出 |
| Investing cash flow | -3,149 | -4.9% | S100Y7XO |
| Financing cash flow | -2,092 | -3.3% | S100Y7XO |
| Dividends paid | 1,498 | 2.3% | S100Y7XO |
| Change in cash | 5,148 | 8.1% | S100Y7XO |
| Cash and equivalents | 22,273 | 34.9% | S100Y7XO |

## 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 13,522 | 13,372 | 15,820 | 17,125 | 22,273 | S100TJAS, S100VUW7, S100Y7XO |
| Total assets | 31,575 | 36,343 | 43,621 | 42,881 | 47,293 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Net assets | 16,178 | 15,759 | 19,975 | 21,337 | 27,141 | S100TJAS, S100VUW7, S100Y7XO |
| Share capital | 2,880 | 2,880 | 3,038 | 3,038 | 3,038 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Trade receivables | 6,090 | — | — | — | — | S100QUZ2 |
| Property, plant and equipment | 972 | 837 | 1,953 | 1,825 | 1,779 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Intangible assets excluding goodwill | 1,077 | 2,265 | 4,411 | 4,160 | 3,504 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Goodwill | 354 | 1,780 | 3,633 | 2,976 | 2,856 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Investment securities | 1,183 | 945 | 1,175 | 1,326 | 1,161 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Current assets | 26,317 | 30,115 | 33,247 | 32,346 | 37,376 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Current liabilities | 10,820 | 16,623 | 13,673 | 14,265 | 15,920 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Short-term borrowings | 335 | 5,056 | 2,038 | 2,351 | 2,888 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Long-term borrowings | 3,322 | 2,802 | 7,576 | 6,051 | 3,610 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Bonds | 309 | 78 | 36 | 25 | 10 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Interest-bearing debt | 3,966 | 7,936 | 9,650 | 8,427 | 6,508 | 算出 |
| Total liabilities | 15,397 | 20,584 | 23,645 | 21,544 | 20,152 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Non-controlling interests | 3,807 | 2,812 | 3,798 | 4,251 | 5,657 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Equity attributable to owners of parent | 10,176 | 10,793 | 13,664 | 16,516 | 20,667 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Retained earnings | 7,076 | 8,173 | 11,942 | 13,477 | 17,085 | S100QUZ2, S100TJAS, S100VUW7, S100Y7XO |
| Treasury stock | -259 | -259 | -1,447 | — | — | S100QUZ2, S100TJAS, S100VUW7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 47% | S100Y7XO |
| Property, plant and equipment | 4% | S100Y7XO |
| Intangibles and goodwill | 13% | S100Y7XO |
| Investment securities | 3% | S100Y7XO |
| Other assets | 33% | S100Y7XO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 14% | 算出 |
| Other liabilities | 29% | S100Y7XO |
| Equity | 57% | S100Y7XO |

### Balance sheet history

| Metric | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 31,575 | 36,343 | 43,621 | 42,881 | 47,293 |
| Equity | 16,178 | 15,759 | 19,975 | 21,337 | 27,141 |
| Interest-bearing debt | 3,966 | 7,936 | 9,650 | 8,427 | 6,508 |
| Cash | 13,522 | 13,372 | 15,820 | 17,125 | 22,273 |

## 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) | 2.8% | S100Y7XO |
| Fixed assets ÷ total assets | 3.8% | S100Y7XO |
| Goodwill ÷ parent equity | 13.8% | S100Y7XO |

Goodwill over 4 years: 354 → 2,856 JPY; total investing cash flow: -8,369 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) | 47.1% |
| Cash ÷ revenue | 34.9% |
| Net cash (cash − interest-bearing debt) | ¥15.8B |
| Net debt ÷ operating cash flow | -1.52× |
| Cash conversion (operating CF ÷ operating income) | 113.5% |
| Cash vs. profit gap | 5,240 JPY mn (of net income 102.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 29.3% |
| Shareholder payments — dividends / FCF | 16.2% |
| CapEx intensity (capex ÷ revenue) | 1.7% |
| Investing CF relative to operating CF | 30.4% |

## 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 | 4.3% | 1.52× | 6.6% | 3.10× | 20.4% | S100QUZ2 |
| 2023 | 5.7% | 1.63× | 9.3% | 3.24× | 30.3% | S100TJAS |
| 2024 | 7.9% | 1.48× | 11.7% | 3.27× | 38.3% | S100VUW7 |
| 2025 | 7.1% | 1.37× | 9.7% | 2.87× | 27.8% | S100Y7XO |
| 2026 | 8.0% | 1.41× | 11.3% | 2.43× | 27.5% | S100Y7XO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ㈱フリーウェイ | Major shareholder | 27.9% | 2026-02-28 |
| 西江肇司 | Major shareholder | 12.2% | 2026-02-28 |
| 日本マスタートラスト 信託銀行㈱ （信託口） | Major shareholder | 8.3% | 2026-02-28 |
| THE BANK OF NEW YORK 133652 (常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 2.7% | 2026-02-28 |
| ㈱日本カストディ銀行 (信託口) | Major shareholder | 2.7% | 2026-02-28 |
| 吉柳さおり | Major shareholder | 2.1% | 2026-02-28 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG （FE-AC） (常任代理人 ㈱三菱ＵＦＪ銀行) | Major shareholder | 2.0% | 2026-02-28 |
| THE BANK OF NEW YORK 133612 (常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 1.9% | 2026-02-28 |
| UBS AG SINGAPORE (常任代理人 シティバンク、 エヌ・エイ東京支店) | Major shareholder | 1.5% | 2026-02-28 |
| MORGAN STANLEY ＆ CO． LLC (常任代理人 モルガン・スタンレーMUFG証券㈱) | Major shareholder | 1.2% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第34期(2025/03/01－2026/02/28) | S100Y7XO | 2026-06-01 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y7XO,, |
| 有価証券報告書－第33期(2024/03/01－2025/02/28) | S100VUW7 | 2025-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VUW7,, |
| 有価証券報告書－第32期(2023/03/01－2024/02/29) | S100TJAS | 2024-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TJAS,, |
| 有価証券報告書－第31期(2022/03/01－2023/02/28) | S100QUZ2 | 2023-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QUZ2,, |
| 有価証券報告書－第30期(令和3年3月1日－令和4年2月28日) | S100O512 | 2022-05-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O512,, |
| 有価証券報告書－第29期(令和2年3月1日－令和3年2月28日) | S100LFIO | 2021-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LFIO,, |

## 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).