# Wantedly, Inc.: business model and financials

> Latest period: FY ending Aug 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第15期(2024/09/01－2025/08/31) (S100X6HU)
> Page: https://vizora.meequs.com/en/company/wantedlyinc
> Retrieved: 2026-09-30T21:06:53.186Z

## Company

Wantedly, founded in 2010, is a company in HR & Staffing listed on TSE Growth. It has 135 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Wantedly, Inc. |
| Ticker | 3991 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3991.T) |
| Listing | TSE Growth |
| Head office | 東京都港区白金台五丁目12番7号 |
| Representative (per filing) | 代表取締役 仲 暁子 |
| Founded | Sep 2010 |
| Share capital | ¥306.7M |
| Employees (consolidated) | 135 |
| Average salary (parent only) | ¥6.5M |
| Fiscal year end | August |
| Website | wantedlyinc.com (https://wantedlyinc.com/) |
| Corporate number | 9011001066673 |
| EDINET | E33364 |
| Industries (Vizora) | HR & Staffing |

> Profile source: annual securities report (S100X6HU, filed 2025-11-25). As of filing

## Five-axis industry profile

Primary industry: HR & Staffing (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 41.9 | 68 |
| Profitability | 98.3 | 88 |
| Cash conversion | 75.6 | 80 |
| Efficiency | 13.1 | 88 |

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)

- Wantedly brought in ¥4.91B in revenue.
- Out of every ¥100 of sales, about ¥34 is left as operating profit.
- Revenue changed +4.0% from the prior year, operating profit +3.2%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥4908830000 → ¥1083381000
- Net income → operating cash flow: ¥1083381000 → ¥2064375000（difference ¥980994000）
- Main uses of operating cash flow: CapEx ¥20835000 / dividends ¥189683000 / buybacks —
- Change in cash: ¥1715183000
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 | ¥4.91B |  |
| Operating income | ¥1.64B | Margin 33.5% |
| Net income | ¥1.08B | Margin 22.1% |
| Free cash flow | ¥2.04B |  |
| Employees (consolidated) | 135 |  |
| EPS | ¥130.43 |  |
| Book value per share | ¥531.46 |  |
| Equity ratio | 68.4% |  |
| Shares outstanding | 9,501,500 |  |
| Treasury shares | 200 |  |
| Shareholders | 1,826 |  |
| Average salary (parent only) | ¥6.5M | Filing company only |
| Cash ratio | 87.1% | Cash ÷ revenue 127.1% |
| Vs. industry median margin | +24.9 pp | HR & Staffing |
| ROE | 24.4% | Derived from disclosed figures |
| ROA | 17.4% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 87% of total assets
- FY2025, operating income keeps 34 per ¥100 of revenue

## What changed in 5 years

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥3094524000 | ¥4908830000 | +58.6% |
| Operating income | ¥443777000 | ¥1644847000 | +270.6% |
| Operating margin | 14.3% | 33.5% | +19.2 pp |
| Employees | 123 people | 135 people | +9.8% |
| Cash and equivalents | ¥1344990000 | ¥6237144000 | +363.7% |

### Change in segment revenue mix

Span: FY ending Aug 2020 → FY ending Aug 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Aug 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,909 | 100.0% | S100X6HU |
| Operating income | 1,645 | 33.5% | S100X6HU |
| Ordinary income | 1,644 | 33.5% | S100X6HU |
| Pretax income | 1,662 | 33.9% | S100X6HU |
| Income tax | 579 | 11.8% | S100X6HU |
| Net income | 1,083 | 22.1% | S100X6HU |
| Net income attributable to owners | 1,083 | 22.1% | S100X6HU |

## Per ¥100 of revenue（FY ending Aug 2025）

| Part | JPY |
| --- | ---: |
| Operating expenses | 66 |
| Operating income | 34 |
| (Ref.) Net income | 22 |

### Margin funnel

Operating margin 33.5% → Net margin 22.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.0%; Core profit growth: +3.2%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 0.80×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Aug 2024 → FY ending Aug 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 4,722 | 4,909 | 187 | +4.0% |
| Operating income | 1,594 | 1,645 | 50 | +3.2% |
| Net income attributable to owners | 1,036 | 1,083 | 47 | +4.5% |
| Operating cash flow | 1,024 | 2,064 | 1,041 | +101.6% |
| Free cash flow | 1,007 | 2,044 | 1,036 | +102.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2019 | 2,922 | 305 | 10.4% | 146 | 461 | 441 | S100K9IF |
| FY ending Aug 2020 | 3,095 | 444 | 14.3% | 233 | 252 | 247 | S100OZIA |
| FY ending Aug 2021 | 3,575 | 414 | 11.6% | 237 | 195 | 175 | S100PP5R |
| FY ending Aug 2022 | 4,498 | 1,252 | 27.8% | 742 | 1,219 | 1,202 | S100SC5K |
| FY ending Aug 2023 | 4,746 | 1,590 | 33.5% | 995 | 865 | 849 | S100UV5Q |
| FY ending Aug 2024 | 4,722 | 1,594 | 33.8% | 1,036 | 1,024 | 1,007 | S100X6HU |
| FY ending Aug 2025 | 4,909 | 1,645 | 33.5% | 1,083 | 2,064 | 2,044 | S100X6HU |

## People and productivity（FY ending Aug 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥36.4M |
| Operating income per employee (consolidated) | ¥12.2M |
| Net income per employee (consolidated) | ¥8M |

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

| History | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 120 | 108 | 107 | 121 | 135 |
| Average salary (parent company) | ¥6.1M | ¥6.8M | ¥6.5M | ¥6.6M | ¥6.5M |
| Average age (parent company) | 28.8 years | 29.9 years | 30.6 years | 31.4 years | 32.3 years |
| Average tenure (parent company) | 2.4 years | 2.7 years | 2.4 years | 2.3 years | 2.5 years |

Year over year: Employees (consolidated) +11.6% · Revenue (consolidated) +4.0%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Aug 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,064 | 42.1% | S100X6HU |
| Capital expenditure | 21 | 0.4% | S100X6HU |
| Free cash flow | 2,044 | 41.6% | 算出 |
| Investing cash flow | -161 | -3.3% | S100X6HU |
| Financing cash flow | -190 | -3.9% | S100X6HU |
| Dividends paid | 190 | 3.9% | S100X6HU |
| Change in cash | 1,715 | 34.9% | S100X6HU |
| Cash and equivalents | 6,237 | 127.1% | S100X6HU |

## 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 Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,531 | 2,753 | 3,701 | 4,522 | 6,237 | S100SC5K, S100UV5Q, S100X6HU |
| Total assets | 2,313 | 3,601 | 4,500 | 5,268 | 7,158 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Net assets | 1,295 | 2,060 | 3,153 | 4,006 | 4,911 | S100SC5K, S100UV5Q, S100X6HU |
| Share capital | 251 | 258 | 304 | 304 | 307 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Property, plant and equipment | 102 | 98 | 89 | 81 | 81 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Investment securities | 6 | 5 | 0 | 0 | 0 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Current assets | 2,012 | 3,282 | 4,217 | 4,960 | 6,676 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Current liabilities | 1,019 | 1,541 | 1,347 | 1,263 | 2,248 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Total liabilities | 1,019 | 1,541 | 1,347 | 1,263 | 2,248 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Equity attributable to owners of parent | 1,302 | 2,058 | 3,145 | 3,992 | 4,890 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Retained earnings | 812 | 1,554 | 2,549 | 3,395 | 4,289 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |
| Treasury stock | -0 | -0 | -0 | -0 | -0 | S100PP5R, S100SC5K, S100UV5Q, S100X6HU |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 87% | S100X6HU |
| Property, plant and equipment | 1% | S100X6HU |
| Investment securities | 0% | S100X6HU |
| Other assets | 12% | S100X6HU |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 31% | S100X6HU |
| Equity | 69% | S100X6HU |
| Other liabilities | 0% | S100X6HU |

### Balance sheet history

| Metric | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 2,313 | 3,601 | 4,500 | 5,268 | 7,158 |
| Equity | 1,295 | 2,060 | 3,153 | 4,006 | 4,911 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,531 | 2,753 | 3,701 | 4,522 | 6,237 |

## 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) | 1.6% | S100X6HU |
| Fixed assets ÷ total assets | 1.1% | S100X6HU |
| Goodwill ÷ parent equity | — | —, S100X6HU |

### 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) | 87.1% |
| Cash ÷ revenue | 127.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 125.5% |
| Cash vs. profit gap | 981 JPY mn (of net income 90.5%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 17.5% |
| Shareholder payments — dividends / FCF | 9.3% |
| CapEx intensity (capex ÷ revenue) | 0.4% |
| Investing CF relative to operating CF | 7.8% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 6.6% | 1.55× | 10.2% | 1.78× | 18.2% | S100PP5R |
| 2022 | 16.5% | 1.52× | 25.1% | 1.76× | 44.1% | S100SC5K |
| 2023 | 21.0% | 1.17× | 24.6% | 1.56× | 38.3% | S100UV5Q |
| 2024 | 21.9% | 0.97× | 21.2% | 1.37× | 29.0% | S100X6HU |
| 2025 | 22.1% | 0.79× | 17.4% | 1.40× | 24.4% | S100X6HU |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 仲暁子 | Major shareholder | 68.2% | 2025-08-31 |
| 株式会社サイバーエージェント | Major shareholder | 7.7% | 2025-08-31 |
| 川田尚吾 | Major shareholder | 5.8% | 2025-08-31 |
| CALLON SAM ANDERBERG | Major shareholder | 2.2% | 2025-08-31 |
| アーキタイプグループ株式会社 | Major shareholder | 1.3% | 2025-08-31 |
| 木下圭一郎 | Major shareholder | 1.0% | 2025-08-31 |
| MSIP CLIENT SECURITIES （常任代理人 モルガン・スタンレーMUFG証券株式会社） | Major shareholder | 0.7% | 2025-08-31 |
| 金賢守 | Major shareholder | 0.6% | 2025-08-31 |
| 五味大輔 | Major shareholder | 0.6% | 2025-08-31 |
| BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 0.5% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第15期(2024/09/01－2025/08/31) | S100X6HU | 2025-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X6HU,, |
| 有価証券報告書－第14期(2023/09/01－2024/08/31) | S100UV5Q | 2024-11-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UV5Q,, |
| 有価証券報告書－第13期(2022/09/01－2023/08/31) | S100SC5K | 2023-11-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SC5K,, |
| 有価証券報告書－第12期(令和3年9月1日－令和4年8月31日) | S100PP5R | 2022-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PP5R,, |
| 訂正有価証券報告書－第11期(令和2年9月1日－令和3年8月31日) | S100OZIA | 2022-08-10 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OZIA,, |
| 有価証券報告書－第10期(令和1年9月1日－令和2年8月31日) | S100K9IF | 2020-11-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100K9IF,, |

## 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).