# VIS Co., Ltd.: 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28期(2025/04/01－2026/03/31) (S100YJJP)
> Page: https://vizora.meequs.com/en/company/vis-produce
> Retrieved: 2026-09-30T22:12:26.064Z

## Company

VIS, founded in 1999, is a company in Software & SaaS listed on TSE Standard. It has 301 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | VIS Co., Ltd. |
| Ticker | 5071 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5071.T) |
| Listing | TSE Standard |
| Head office | 大阪府大阪市北区大深町4番20号 (2025年9月1日から本店所在地 大阪府大阪市北区梅田三丁目4番5号が上記のように移転しております。) |
| Representative (per filing) | 代表取締役社長 金谷 智浩 |
| Founded | Jan 1999 |
| Share capital | ¥565.1M |
| Employees (consolidated) | 301 |
| Average salary (parent only) | ¥7.3M |
| Fiscal year end | March |
| Website | vis-produce.com (https://vis-produce.com/) |
| Corporate number | 8120001041552 |
| EDINET | E34454 |
| Industries (Vizora) | Software & SaaS, General Contractors |

> Profile source: annual securities report (S100YJJP, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: General Contractors (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 87.5 | 92 |
| Cash conversion | 51.1 | 91 |
| Efficiency | 84.2 | 92 |

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 96% of VIS's sales come from Branding business, with Data solution place solution business making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +1.5% from the prior year, operating profit +1.4%.

## Company structure

- Segment revenue mix: Branding business 96.3%、Data solution place solution business 3.7%
- Revenue → net income: ¥16489616000 → ¥1369167000
- Net income → operating cash flow: ¥1369167000 → ¥1345185000（difference ¥-23982000）
- Main uses of operating cash flow: CapEx ¥250467000 / dividends ¥409232000 / buybacks —
- Change in cash: ¥632553000
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 | ¥16.5B |  |
| Operating income | ¥1.94B | Margin 11.8% |
| Net income | ¥1.37B | Margin 8.3% |
| Free cash flow | ¥1.09B |  |
| Largest business | Branding business | of segment revenue 96.3% |
| Employees (consolidated) | 301 |  |
| EPS | ¥159.98 |  |
| Diluted EPS | ¥159 |  |
| Book value per share | ¥935.6 |  |
| Equity ratio | 63.3% |  |
| Shares outstanding | 8,435,050 |  |
| Treasury shares | 100 |  |
| Shareholders | 2,020 |  |
| Average salary (parent only) | ¥7.3M | Filing company only |
| Cash ratio | 52.8% | Cash ÷ revenue 40.1% |
| Vs. industry median margin | +4.9 pp | General Contractors |
| ROE | 18.5% | Derived from disclosed figures |
| ROA | 11.7% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 97% of positive segment profit
- FY2026, cash is 53% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8075347000 | ¥16489616000 | — |
| Operating income | ¥522009000 | ¥1942006000 | — |
| Operating margin | 6.5% | 11.8% | +5.3 pp |
| Employees | 209 people | 301 people | — |
| Cash and equivalents | ¥2214051000 | ¥6604424000 | — |

### 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.

| Flow | Revenue share |
| --- | ---: |
| デザイナーズオフィス事業 → 事業再編・廃止 | 99.7% |
| VISビル事業 → 事業再編・廃止 | 0.3% |
| 新設・再編 → ブランディング事業 | 96.3% |
| 新設・再編 → データソリューション・プレイスソリューション事業 | 3.7% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 16,490 | 100.0% | S100YJJP |
| Cost of revenue | 11,749 | 71.3% | S100YJJP |
| Gross profit | 4,741 | 28.7% | S100YJJP |
| SG&A | 2,799 | 17.0% | S100YJJP |
| Operating income | 1,942 | 11.8% | S100YJJP |
| Ordinary income | 1,926 | 11.7% | S100YJJP |
| Pretax income | 1,938 | 11.8% | S100YJJP |
| Income tax | 569 | 3.5% | S100YJJP |
| Net income | 1,369 | 8.3% | S100YJJP |
| Net income attributable to owners | 1,369 | 8.3% | S100YJJP |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 17 |
| Operating income | 12 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 28.7% → Operating margin 11.8% → Net margin 8.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.5%; Core profit growth: +1.4%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 0.94×
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 | 16,253 | 16,490 | 236 | +1.5% |
| Gross profit | 4,727 | 4,741 | 14 | +0.3% |
| Operating income | 1,916 | 1,942 | 26 | +1.4% |
| Net income attributable to owners | 1,358 | 1,369 | 12 | +0.8% |
| Operating cash flow | 1,560 | 1,345 | -215 | -13.8% |
| Free cash flow | 1,507 | 1,095 | -412 | -27.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 9,298 | 941 | 10.1% | 611 | 281 | 6 | S100LN10 |
| FY ending Mar 2021 | 8,075 | 522 | 6.5% | 331 | 426 | -222 | S100OHW8 |
| FY ending Mar 2022 | 10,727 | 1,008 | 9.4% | 687 | 1,394 | 1,344 | S100OHW8 |
| FY ending Mar 2023 | 13,219 | 1,280 | 9.7% | 856 | 1,209 | 1,112 | S100TNEZ |
| FY ending Mar 2024 | 14,400 | 1,524 | 10.6% | 991 | 1,458 | 1,147 | S100W4D4 |
| FY ending Mar 2025 | 16,253 | 1,916 | 11.8% | 1,358 | 1,560 | 1,507 | S100YJJP |
| FY ending Mar 2026 | 16,490 | 1,942 | 11.8% | 1,369 | 1,345 | 1,095 | S100YJJP |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥54.8M |
| Operating income per employee (consolidated) | ¥6.5M |
| Net income per employee (consolidated) | ¥4.5M |

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) | 224 | 231 | 252 | 272 | 301 |
| Average salary (parent company) | ¥6.2M | ¥7.1M | ¥7.2M | ¥8.3M | ¥7.3M |
| Average age (parent company) | 32.0 years | 32.8 years | 33.4 years | 34.2 years | 34.2 years |
| Average tenure (parent company) | 4.3 years | 4.9 years | 5.1 years | 5.9 years | 5.9 years |

Year over year: Employees (consolidated) +10.7% · Revenue (consolidated) +1.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Branding business | 15,888 | 96.3% | 2,002 | 12.6% |
| Data solution place solution business | 602 | 3.7% | 65 | 10.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Branding business | 96.3% | 96.9% | 0.5 | 12.6% |
| Data solution place solution business | 3.7% | 3.1% | -0.5 | 10.8% |

Segment → industry: Data solution place solution business → Software & SaaS / Branding business → General Contractors

## 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 | 1,345 | 8.2% | S100YJJP |
| Capital expenditure | 250 | 1.5% | S100YJJP |
| Free cash flow | 1,095 | 6.6% | 算出 |
| Investing cash flow | -328 | -2.0% | S100YJJP |
| Financing cash flow | -385 | -2.3% | S100YJJP |
| Dividends paid | 409 | 2.5% | S100YJJP |
| Change in cash | 633 | 3.8% | S100YJJP |
| Cash and equivalents | 6,604 | 40.1% | S100YJJP |

## 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 | 3,471 | 4,168 | 5,022 | 5,972 | 6,604 | S100OHW8, S100W4D4, S100YJJP |
| Total assets | 6,928 | 7,959 | 9,872 | 10,797 | 12,512 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Net assets | 4,281 | 5,002 | 5,846 | 6,937 | 7,935 | S100OHW8, S100W4D4, S100YJJP |
| Share capital | 522 | 525 | 530 | 545 | 565 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Property, plant and equipment | 1,950 | 1,957 | 2,281 | 2,218 | 2,426 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Intangible assets excluding goodwill | 20 | 32 | 40 | 41 | 47 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Investment securities | — | 91 | 222 | 330 | 411 | S100TNEZ, S100W4D4, S100YJJP |
| Current assets | 4,686 | 5,420 | 6,844 | 7,487 | 8,986 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Current liabilities | 2,616 | 2,926 | 3,842 | 3,675 | 4,276 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Total liabilities | 2,647 | 2,957 | 4,026 | 3,860 | 4,577 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Equity attributable to owners of parent | 4,281 | 5,002 | 5,832 | 6,920 | 7,921 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Retained earnings | 3,261 | 3,978 | 4,796 | 5,856 | 6,816 | S100OHW8, S100TNEZ, S100W4D4, S100YJJP |
| Treasury stock | — | -0 | -0 | -0 | -0 | S100TNEZ, S100W4D4, S100YJJP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 53% | S100YJJP |
| Property, plant and equipment | 20% | S100YJJP |
| Intangibles and goodwill | 0% | S100YJJP |
| Investment securities | 3% | S100YJJP |
| Other assets | 24% | S100YJJP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 37% | S100YJJP |
| Equity | 63% | S100YJJP |
| Other liabilities | 0% | S100YJJP |

### 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 | 6,928 | 7,959 | 9,872 | 10,797 | 12,512 |
| Equity | 4,281 | 5,002 | 5,846 | 6,937 | 7,935 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,471 | 4,168 | 5,022 | 5,972 | 6,604 |

## 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) | 14.7% | S100YJJP |
| Fixed assets ÷ total assets | 19.4% | S100YJJP |
| Goodwill ÷ parent equity | — | —, S100YJJP |

### 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) | 52.8% |
| Cash ÷ revenue | 40.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 69.3% |
| Cash vs. profit gap | -24 JPY mn (of net income -1.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 29.9% |
| Shareholder payments — dividends / FCF | 37.4% |
| CapEx intensity (capex ÷ revenue) | 1.5% |
| Investing CF relative to operating CF | 24.4% |

## 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 | 6.4% | 1.55× | 9.9% | 1.62× | 16.1% | S100OHW8 |
| 2023 | 6.5% | 1.66× | 10.8% | 1.59× | 17.1% | S100TNEZ |
| 2024 | 6.9% | 1.62× | 11.1% | 1.65× | 18.3% | S100W4D4 |
| 2025 | 8.4% | 1.57× | 13.1% | 1.62× | 21.3% | S100YJJP |
| 2026 | 8.3% | 1.41× | 11.7% | 1.57× | 18.5% | S100YJJP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社クレド | Major shareholder | 40.7% | 2026-03-31 |
| 中村 勇人 | Major shareholder | 22.4% | 2026-03-31 |
| 竹内 理人 | Major shareholder | 5.1% | 2026-03-31 |
| ヴィス従業員持株会 | Major shareholder | 3.0% | 2026-03-31 |
| 金谷 智浩 | Major shareholder | 2.0% | 2026-03-31 |
| 大滝 仁実 | Major shareholder | 2.0% | 2026-03-31 |
| 横山 賢次 | Major shareholder | 1.7% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 1.6% | 2026-03-31 |
| 永岡 陽介 | Major shareholder | 1.5% | 2026-03-31 |
| ベル投資事業有限責任組合１ | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第28期(2025/04/01－2026/03/31) | S100YJJP | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJJP,, |
| 有価証券報告書－第27期(2024/04/01－2025/03/31) | S100W4D4 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4D4,, |
| 有価証券報告書－第26期(2023/04/01－2024/03/31) | S100TNEZ | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNEZ,, |
| 有価証券報告書－第25期(2022/04/01－2023/03/31) | S100R24A | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R24A,, |
| 有価証券報告書－第24期(令和3年4月1日－令和4年3月31日) | S100OHW8 | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHW8,, |
| 有価証券報告書－第23期(令和2年4月1日－令和3年3月31日) | S100LN10 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN10,, |

## 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).