# VIA Holdings,Inc.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第90期(2025/04/01－2026/03/31) (S100YL9S)
> Page: https://vizora.meequs.com/en/company/via-holdings
> Retrieved: 2026-09-30T21:55:43.252Z

## Company

VIA Holdings, founded in 1948, is a company in Restaurants & Pubs listed on TSE Standard. It has 383 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | VIA Holdings,Inc. |
| Ticker | 7918 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7918.T) |
| Listing | TSE Standard |
| Head office | 東京都新宿区早稲田鶴巻町519 |
| Representative (per filing) | 代表取締役社長 楠元 健一郎 |
| Founded | Feb 1948 |
| Share capital | ¥100M |
| Employees (consolidated) | 383 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | March |
| Website | www.via-hd.co.jp (https://www.via-hd.co.jp/) |
| Corporate number | 6010001000249 |
| EDINET | E00705 |
| Industries (Vizora) | Restaurants & Pubs |

> Profile source: annual securities report (S100YL9S, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 18.8 | 56 |
| Profitability | 14.4 | 66 |
| Efficiency | 93.2 | 66 |

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)

- VIA Holdings brought in ¥17.4B in revenue.
- Operating profit was close to zero, a slight loss per ¥100 of sales.
- Revenue changed +0.2% from the prior year, operating profit -134.3%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥17.4B |  |
| Operating income | -¥68M | Margin -0.4% |
| Net income | -¥512M | Margin -2.9% |
| Free cash flow | -¥257M |  |
| Employees (consolidated) | 383 |  |
| EPS | ¥-11.82 |  |
| Book value per share | ¥-83.09 |  |
| Equity ratio | 18.7% |  |
| Shares outstanding | 45,628,000 |  |
| Treasury shares | 2,500 |  |
| Shareholders | 73,073 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 14.2% | Cash ÷ revenue 5.4% |
| Vs. industry median margin | -4.3 pp | Restaurants & Pubs |
| ROA | -7.9% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +27% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12168000000 | ¥17405000000 | +43.0% |
| Operating income | ¥-2631000000 | ¥-68000000 | — |
| Operating margin | -21.6% | -0.4% | +21.2 pp |
| Employees | 434 people | 383 people | -11.8% |
| Cash and equivalents | ¥575000000 | ¥935000000 | +62.6% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 17,405 | 100.0% | S100YL9S |
| Cost of revenue | 5,892 | 33.9% | S100YL9S |
| Gross profit | 11,512 | 66.1% | S100YL9S |
| SG&A | 11,581 | 66.5% | S100YL9S |
| Operating income | -68 | -0.4% | S100YL9S |
| Ordinary income | -157 | -0.9% | S100YL9S |
| Pretax income | -416 | -2.4% | S100YL9S |
| Income tax | 95 | 0.5% | S100YL9S |
| Net income | -512 | -2.9% | S100YL9S |
| Net income attributable to owners | -512 | -2.9% | S100YL9S |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 34 |
| SG&A | 66 |
| Operating income | 0 |
| (Ref.) Net income | -3 |

### Margin funnel

Gross margin 66.1% → Operating margin -0.4% → Net margin -2.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
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 | 17,373 | 17,405 | 32 | +0.2% |
| Gross profit | 11,693 | 11,512 | -181 | -1.5% |
| Operating income | 198 | -68 | -266 | -134.3% |
| Net income attributable to owners | -19 | -512 | -493 | — |
| Operating cash flow | 122 | 167 | 45 | +36.9% |
| Free cash flow | -391 | -257 | 134 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 24,404 | -479 | -2.0% | -1,801 | 738 | 29 | S100LVDD |
| FY ending Mar 2021 | 12,168 | -2,631 | -21.6% | -5,606 | -2,702 | -2,963 | S100OJ3U |
| FY ending Mar 2022 | 10,258 | -1,123 | -10.9% | 543 | -649 | -886 | S100R75K |
| FY ending Mar 2023 | 14,553 | -933 | -6.4% | -1,329 | 856 | 669 | S100TW4R |
| FY ending Mar 2024 | 16,981 | 325 | 1.9% | 216 | 572 | 293 | S100WFPB |
| FY ending Mar 2025 | 17,373 | 198 | 1.1% | -19 | 122 | -391 | S100YL9S |
| FY ending Mar 2026 | 17,405 | -68 | -0.4% | -512 | 167 | -257 | S100YL9S |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥45.4M |
| Operating income per employee (consolidated) | -¥177.5K |
| Net income per employee (consolidated) | -¥1.3M |

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) | 407 | 360 | 363 | 380 | 383 |
| Average salary (parent company) | ¥4.6M | ¥4.8M | ¥5.1M | ¥5.6M | ¥5.8M |
| Average age (parent company) | 47.2 years | 47.3 years | 48.5 years | 48.1 years | 48.6 years |
| Average tenure (parent company) | 14.1 years | 14.2 years | 13.7 years | 13.3 years | 14.3 years |

Year over year: Employees (consolidated) +0.8% · Revenue (consolidated) +0.2%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 167 | 1.0% | S100YL9S |
| Capital expenditure | 424 | 2.4% | S100YL9S |
| Free cash flow | -257 | -1.5% | 算出 |
| Investing cash flow | -447 | -2.6% | S100YL9S |
| Financing cash flow | 288 | 1.7% | S100YL9S |
| Dividends paid | 127 | 0.7% | S100YL9S |
| Change in cash | 8 | 0.0% | S100YL9S |
| Cash and equivalents | 935 | 5.4% | S100YL9S |

## 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 | 1,374 | 1,651 | 1,783 | 927 | 935 | S100TW4R, S100WFPB, S100YL9S |
| Total assets | 9,379 | 7,300 | 7,313 | 6,365 | 6,567 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Net assets | 2,498 | 980 | 1,306 | 1,158 | 1,239 | S100TW4R, S100WFPB, S100YL9S |
| Share capital | 316 | 316 | 216 | 164 | 100 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Property, plant and equipment | 3,627 | 2,821 | 2,707 | 2,667 | 2,869 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Intangible assets excluding goodwill | 276 | 187 | 121 | 86 | 89 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Investment securities | 371 | 371 | 371 | 371 | 371 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Current assets | 3,503 | 2,566 | 2,797 | 1,936 | 1,936 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Current liabilities | 2,613 | 2,502 | 2,534 | 2,127 | 3,598 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Long-term borrowings | 3,315 | 2,929 | 2,646 | 2,277 | 728 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Total liabilities | 6,881 | 6,319 | 6,007 | 5,206 | 5,327 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Equity attributable to owners of parent | 2,496 | 979 | 1,301 | 1,154 | 1,227 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Retained earnings | -4,808 | -1,560 | -352 | -372 | -884 | S100R75K, S100TW4R, S100WFPB, S100YL9S |
| Treasury stock | -2 | -2 | -2 | -2 | -789 | S100R75K, S100TW4R, S100WFPB, S100YL9S |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YL9S |
| Property, plant and equipment | 44% | S100YL9S |
| Intangibles and goodwill | 1% | S100YL9S |
| Investment securities | 6% | S100YL9S |
| Other assets | 35% | S100YL9S |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 81% | S100YL9S |
| Equity | 19% | S100YL9S |
| Other liabilities | 0% | S100YL9S |

### 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 | 9,379 | 7,300 | 7,313 | 6,365 | 6,567 |
| Equity | 2,498 | 980 | 1,306 | 1,158 | 1,239 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,374 | 1,651 | 1,783 | 927 | 935 |

## 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) | 16.5% | S100YL9S |
| Fixed assets ÷ total assets | 43.7% | S100YL9S |
| Goodwill ÷ parent equity | — | —, S100YL9S |

### 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) | 14.2% |
| Cash ÷ revenue | 5.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 679 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.4% |
| Investing CF relative to operating CF | 267.7% |

## 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 | 5.3% | 1.09× | 5.8% | 3.76× | 21.8% | S100R75K |
| 2023 | — | —× | -15.9% | —× | — | S100TW4R |
| 2024 | 1.3% | 2.32× | 3.0% | 6.41× | 18.9% | S100WFPB |
| 2025 | — | —× | -0.3% | —× | — | S100YL9S |
| 2026 | — | —× | -7.9% | —× | — | S100YL9S |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| アサヒビール㈱ | Major shareholder | 7.0% | 2026-03-31 |
| 横川 てるよ | Major shareholder | 4.7% | 2026-03-31 |
| 横川 紀夫 | Major shareholder | 4.3% | 2026-03-31 |
| 横川 竟 | Major shareholder | 2.0% | 2026-03-31 |
| 大関㈱ | Major shareholder | 1.3% | 2026-03-31 |
| ㈱ウェルカム | Major shareholder | 1.3% | 2026-03-31 |
| 実井 俊介 | Major shareholder | 1.3% | 2026-03-31 |
| 今井 辰男 | Major shareholder | 1.1% | 2026-03-31 |
| ㈱横浜銀行 | Major shareholder | 1.0% | 2026-03-31 |
| ㈱W&E | Major shareholder | 0.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第90期(2025/04/01－2026/03/31) | S100YL9S | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YL9S,, |
| 訂正有価証券報告書－第89期(2024/04/01－2025/03/31) | S100WFPB | 2025-08-01 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WFPB,, |
| 有価証券報告書－第88期(2023/04/01－2024/03/31) | S100TW4R | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW4R,, |
| 有価証券報告書－第87期(2022/04/01－2023/03/31) | S100R75K | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R75K,, |
| 有価証券報告書－第86期(令和3年4月1日－令和4年3月31日) | S100OJ3U | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJ3U,, |
| 有価証券報告書－第85期(令和2年4月1日－令和3年3月31日) | S100LVDD | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVDD,, |

## 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).