# Vitabrid Japan Inc.: business model and financials

> Latest period: FY ending Feb 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第12期(2025/03/01－2026/02/28) (S100Y5S8)
> Page: https://vizora.meequs.com/en/company/vitabrid-japan
> Retrieved: 2026-09-30T20:31:16.128Z

## Company

Vitabrid Japan, founded in 2014, is a company in Cosmetics listed on TSE Growth. It has 95 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Vitabrid Japan Inc. |
| Ticker | 542A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/542A.T) |
| Listing | TSE Growth |
| Head office | 東京都港区赤坂五丁目3番1号 |
| Representative (per filing) | 代表取締役社長CEO 大塚 博史 |
| Founded | Apr 2014 |
| Share capital | ¥105M |
| Employees (consolidated) | 95 |
| Average salary (parent only) | ¥8.2M |
| Fiscal year end | February |
| Website | corporate.vitabrid.co.jp (https://corporate.vitabrid.co.jp/) |
| Corporate number | 3010401111607 |
| EDINET | E41361 |
| Industries (Vizora) | Cosmetics |

> Profile source: annual securities report (S100Y5S8, filed 2026-05-25). As of filing

## Five-axis industry profile

Primary industry: Cosmetics (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 88.6 | 22 |
| Profitability | 59.6 | 26 |
| Cash conversion | 79.5 | 22 |
| Efficiency | 98.1 | 26 |

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)

- Vitabrid Japan brought in ¥15.3B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +21.2% from the prior year, operating profit +45.8%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥15296545000 → ¥689454000
- Net income → operating cash flow: ¥689454000 → ¥1737381000（difference ¥1047927000）
- Main uses of operating cash flow: CapEx ¥16112000 / dividends — / buybacks —
- Change in cash: ¥1214541000
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 | ¥15.3B |  |
| Operating income | ¥1.02B | Margin 6.7% |
| Net income | ¥689.5M | Margin 4.5% |
| Free cash flow | ¥1.72B |  |
| Employees (consolidated) | 95 |  |
| EPS | ¥182.78 |  |
| Book value per share | ¥704.75 |  |
| Equity ratio | 42.4% |  |
| Shares outstanding | 5,600,000 |  |
| Treasury shares | 1,828,000 |  |
| Shareholders | 3 |  |
| Average salary (parent only) | ¥8.2M | Filing company only |
| Cash ratio | 51.3% | Cash ÷ revenue 21.0% |
| Vs. industry median margin | +0.6 pp | Cosmetics |
| ROE | 29.8% | Derived from disclosed figures |
| ROA | 12.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.5× net income
- FY2026, cash is 51% of total assets

## What changed in 1 years

| Metric | FY ending Feb 2025 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12622305000 | ¥15296545000 | +21.2% |
| Operating income | ¥700913000 | ¥1022020000 | +45.8% |
| Operating margin | 5.6% | 6.7% | +1.1 pp |
| Employees | 82 people | 95 people | +15.9% |
| Cash and equivalents | ¥2005195000 | ¥3219736000 | +60.6% |

### Change in segment revenue mix

Span: FY ending Feb 2025 → FY ending Feb 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 15,297 | 100.0% | S100Y5S8 |
| Cost of revenue | 3,191 | 20.9% | S100Y5S8 |
| Gross profit | 12,105 | 79.1% | S100Y5S8 |
| SG&A | 11,083 | 72.5% | S100Y5S8 |
| Operating income | 1,022 | 6.7% | S100Y5S8 |
| Ordinary income | 991 | 6.5% | S100Y5S8 |
| Pretax income | 968 | 6.3% | S100Y5S8 |
| Income tax | 279 | 1.8% | S100Y5S8 |
| Net income | 689 | 4.5% | S100Y5S8 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 21 |
| SG&A | 72 |
| Operating income | 7 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 79.1% → Operating margin 6.7% → Net margin 4.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +21.2%; Core profit growth: +45.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.16×
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 | 12,622 | 15,297 | 2,674 | +21.2% |
| Gross profit | 10,159 | 12,105 | 1,946 | +19.2% |
| Operating income | 701 | 1,022 | 321 | +45.8% |
| Operating cash flow | 843 | 1,737 | 894 | +106.0% |
| Free cash flow | 755 | 1,721 | 966 | +128.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2025 | 12,622 | 701 | 5.6% | 460 | 843 | 755 | S100Y5S8 |
| FY ending Feb 2026 | 15,297 | 1,022 | 6.7% | 689 | 1,737 | 1,721 | S100Y5S8 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥161M |
| Operating income per employee (consolidated) | ¥10.8M |
| Net income per employee (consolidated) | ¥7.3M |

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

| History | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: |
| Employees (consolidated) | 82 | 95 |
| Average salary (parent company) | — | ¥8.2M |
| Average age (parent company) | — | 34.9 years |
| Average tenure (parent company) | — | 3.3 years |

Year over year: Employees (consolidated) +15.9% · Revenue (consolidated) +21.2%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,737 | 11.4% | S100Y5S8 |
| Capital expenditure | 16 | 0.1% | S100Y5S8 |
| Free cash flow | 1,721 | 11.3% | 算出 |
| Investing cash flow | -16 | -0.1% | S100Y5S8 |
| Financing cash flow | -507 | -3.3% | S100Y5S8 |
| Change in cash | 1,215 | 7.9% | S100Y5S8 |
| Cash and equivalents | 3,220 | 21.0% | S100Y5S8 |

## 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 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 2,005 | 3,220 | S100Y5S8 |
| Total assets | 5,072 | 6,276 | S100Y5S8 |
| Net assets | 2,026 | 2,795 | S100Y5S8 |
| Share capital | 105 | 105 | S100Y5S8 |
| Property, plant and equipment | 137 | 138 | S100Y5S8 |
| Intangible assets excluding goodwill | 94 | 50 | S100Y5S8 |
| Current assets | 4,732 | 5,926 | S100Y5S8 |
| Current liabilities | 2,736 | 3,377 | S100Y5S8 |
| Short-term borrowings | 1,500 | 1,200 | S100Y5S8 |
| Long-term borrowings | 310 | 104 | S100Y5S8 |
| Total liabilities | 3,046 | 3,481 | S100Y5S8 |
| Equity attributable to owners of parent | 1,969 | 2,658 | S100Y5S8 |
| Retained earnings | 3,648 | 4,337 | S100Y5S8 |
| Treasury stock | -1,819 | -1,819 | S100Y5S8 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 51% | S100Y5S8 |
| Property, plant and equipment | 2% | S100Y5S8 |
| Intangibles and goodwill | 1% | S100Y5S8 |
| Other assets | 46% | S100Y5S8 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 55% | S100Y5S8 |
| Equity | 45% | S100Y5S8 |
| Other liabilities | 0% | S100Y5S8 |

### Balance sheet history

| Metric | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: |
| Total assets | 5,072 | 6,276 |
| Equity | 2,026 | 2,795 |
| Interest-bearing debt | — | — |
| Cash | 2,005 | 3,220 |

## 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) | 0.9% | S100Y5S8 |
| Fixed assets ÷ total assets | 2.2% | S100Y5S8 |
| Goodwill ÷ parent equity | — | —, S100Y5S8 |

### 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) | 51.3% |
| Cash ÷ revenue | 21.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 170.0% |
| Cash vs. profit gap | 1,048 JPY mn (of net income 152.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.1% |
| Investing CF relative to operating CF | 0.9% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2025 | 3.6% | 2.49× | 9.1% | 2.58× | 23.4% | S100Y5S8 |
| 2026 | 4.5% | 2.70× | 12.2% | 2.45× | 29.8% | S100Y5S8 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ベクトル | Major shareholder | 95.4% | 2026-02-28 |
| HYUNDAI BIOSCIENCE CO., LTD.（常任代理人 行政書士法人 中央ライズアクロス） | Major shareholder | 4.6% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第12期(2025/03/01－2026/02/28) | S100Y5S8 | 2026-05-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y5S8,, |

## 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).