# Y's table corporation: business model and financials

> Latest period: FY ending Feb 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第27期(2025/03/01－2026/02/28) (S100Y6U1)
> Page: https://vizora.meequs.com/en/company/y-s-table
> Retrieved: 2026-09-30T20:48:39.205Z

## Company

Y's table, founded in 1987, is a company in HR & Staffing listed on TSE Standard. It has 514 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Y's table corporation |
| Ticker | 2798 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2798.T) |
| Listing | TSE Standard |
| Head office | 東京都港区赤坂八丁目10番22号 ニュー新坂ビル5F |
| Representative (per filing) | 代表取締役社長 船曵 睦雄 |
| Founded | Aug 1987 |
| Share capital | ¥50M |
| Employees (consolidated) | 514 |
| Average salary (parent only) | ¥4.8M |
| Fiscal year end | February |
| Website | www.ystable.co.jp (https://www.ystable.co.jp/) |
| Corporate number | 6010401054605 |
| EDINET | E03428 |
| Industries (Vizora) | HR & Staffing, Restaurants & Pubs |

> Profile source: annual securities report (S100Y6U1, filed 2026-05-27). As of filing

## Five-axis industry profile

Primary industry: Restaurants & Pubs (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 27.7 | 56 |
| Profitability | 26.5 | 66 |
| Cash conversion | 75.5 | 55 |
| Efficiency | 91.7 | 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)

- About 59% of Y's table's sales come from Casual group, with XEX group making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +7.6% from the prior year, operating profit +109.5%.

## Company structure

- Segment revenue mix: Casual group 58.9%、XEX group 41.1%
- Revenue → net income: ¥13046266000 → ¥205247000
- Net income → operating cash flow: ¥205247000 → ¥505780000（difference ¥300533000）
- Main uses of operating cash flow: CapEx ¥471939000 / dividends — / buybacks ¥149000
- Change in cash: ¥2158000
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 | ¥13B |  |
| Operating income | ¥249.3M | Margin 1.9% |
| Net income | ¥205.2M | Margin 1.6% |
| Free cash flow | ¥33.8M |  |
| Largest business | Casual group | of segment revenue 58.9% |
| Employees (consolidated) | 514 |  |
| EPS | ¥45.06 |  |
| Book value per share | ¥203.06 |  |
| Equity ratio | 17.4% |  |
| Shares outstanding | 3,298,400 |  |
| Treasury shares | 300 |  |
| Shareholders | 12,175 |  |
| Average salary (parent only) | ¥4.8M | Filing company only |
| Cash ratio | 30.2% | Cash ÷ revenue 11.8% |
| Vs. industry median margin | -2 pp | Restaurants & Pubs |
| ROE | 26.3% | Derived from disclosed figures |
| ROA | 4.1% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.5× net income
- FY2026, one segment accounts for 62% of positive segment profit
- FY2026, parent-company salary changed +24% over five years

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8288964000 | ¥13046266000 | +57.4% |
| Operating income | ¥-1905329000 | ¥249299000 | — |
| Operating margin | -23.0% | 1.9% | +24.9 pp |
| Employees | 591 people | 514 people | -13.0% |
| Cash and equivalents | ¥1096216000 | ¥1535457000 | +40.1% |

### 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 |
| --- | ---: |
| XEXグループ → XEXグループ | 27.6% |
| カジュアルレストラングループ → カジュアルレストラングループ | 58.9% |
| カジュアルレストラングループ → 事業再編・廃止 | 13.4% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → XEXグループ | 13.5% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 13,046 | 100.0% | S100Y6U1 |
| Cost of revenue | 10,213 | 78.3% | S100Y6U1 |
| Gross profit | 2,833 | 21.7% | S100Y6U1 |
| SG&A | 2,584 | 19.8% | S100Y6U1 |
| Operating income | 249 | 1.9% | S100Y6U1 |
| Ordinary income | 345 | 2.6% | S100Y6U1 |
| Pretax income | 265 | 2.0% | S100Y6U1 |
| Income tax | 60 | 0.5% | S100Y6U1 |
| Net income | 205 | 1.6% | S100Y6U1 |
| Net income attributable to owners | 205 | 1.6% | S100Y6U1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 20 |
| Operating income | 2 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 21.7% → Operating margin 1.9% → Net margin 1.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.6%; Core profit growth: +109.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 14.35×
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 | 12,121 | 13,046 | 925 | +7.6% |
| Gross profit | 2,417 | 2,833 | 416 | +17.2% |
| Operating income | 119 | 249 | 130 | +109.5% |
| Net income attributable to owners | 261 | 205 | -55 | -21.3% |
| Operating cash flow | 290 | 506 | 216 | +74.4% |
| Free cash flow | -24 | 34 | 58 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 13,733 | 131 | 1.0% | 48 | 921 | 699 | S100LFF9 |
| FY ending Feb 2021 | 8,289 | -1,905 | -23.0% | -1,502 | -100 | -223 | S100O55X |
| FY ending Feb 2022 | 8,149 | -1,446 | -17.7% | 315 | -1,102 | -1,215 | S100QUAA |
| FY ending Feb 2023 | 9,781 | -379 | -3.9% | -72 | 471 | 267 | S100TITA |
| FY ending Feb 2024 | 11,285 | 180 | 1.6% | 114 | 392 | 128 | S100VTUH |
| FY ending Feb 2025 | 12,121 | 119 | 1.0% | 261 | 290 | -24 | S100Y6U1 |
| FY ending Feb 2026 | 13,046 | 249 | 1.9% | 205 | 506 | 34 | S100Y6U1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥25.4M |
| Operating income per employee (consolidated) | ¥485K |
| Net income per employee (consolidated) | ¥399.3K |

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) | 575 | 531 | 510 | 494 | 514 |
| Average salary (parent company) | ¥3.9M | ¥4.1M | ¥4.4M | ¥4.7M | ¥4.8M |
| Average age (parent company) | 34.4 years | 35.3 years | 36.6 years | 36.5 years | 36.2 years |
| Average tenure (parent company) | 6.0 years | 6.0 years | 7.0 years | 6.9 years | 7.0 years |

Year over year: Employees (consolidated) +4.0% · Revenue (consolidated) +7.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| XEX group | 5,365 | 41.1% | 534 | 10.0% |
| Casual group | 7,682 | 58.9% | 861 | 11.2% |
| Other | — | 0.0% | -2 | — |

### 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 | Profit share | Margin |
| --- | ---: | ---: |
| XEX group | 38.3% | 10.0% |
| Casual group | 61.7% | 11.2% |
| Other | — | — |

Loss-making segment (excluded from profit shares): Other -2 JPY mn

Segment → industry: Other → HR & Staffing / Casual group → Restaurants & Pubs / XEX group → Restaurants & Pubs

## 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 | 506 | 3.9% | S100Y6U1 |
| Capital expenditure | 472 | 3.6% | S100Y6U1 |
| Free cash flow | 34 | 0.3% | 算出 |
| Investing cash flow | -428 | -3.3% | S100Y6U1 |
| Financing cash flow | -75 | -0.6% | S100Y6U1 |
| Share buyback | 0 | 0.0% | S100Y6U1 |
| Change in cash | 2 | 0.0% | S100Y6U1 |
| Cash and equivalents | 1,535 | 11.8% | S100Y6U1 |

## 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 | 1,838 | 2,041 | 1,792 | 1,533 | 1,535 | S100TITA, S100VTUH, S100Y6U1 |
| Total assets | 4,905 | 5,021 | 4,715 | 4,825 | 5,083 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Net assets | -94 | 304 | 418 | 678 | 884 | S100TITA, S100VTUH, S100Y6U1 |
| Share capital | 50 | 50 | 50 | 50 | 50 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Property, plant and equipment | 1,079 | 849 | 767 | 974 | 1,219 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Intangible assets excluding goodwill | 9 | 6 | 4 | 9 | 19 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Investment securities | 7 | 65 | 136 | 208 | 265 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Current assets | 2,613 | 3,053 | 2,807 | 2,620 | 2,682 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Current liabilities | 2,443 | 2,459 | 1,725 | 1,739 | 1,763 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Short-term borrowings | 1,075 | 721 | — | — | 50 | S100QUAA, S100TITA, S100Y6U1 |
| Long-term borrowings | 1,600 | 1,375 | 1,689 | 1,466 | 1,440 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Total liabilities | 4,999 | 4,717 | 4,297 | 4,146 | 4,199 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Equity attributable to owners of parent | -94 | 303 | 417 | 678 | 883 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Retained earnings | -146 | -122 | -8 | 253 | 458 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |
| Treasury stock | -1 | -1 | -1 | -1 | -1 | S100QUAA, S100TITA, S100VTUH, S100Y6U1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100Y6U1 |
| Property, plant and equipment | 24% | S100Y6U1 |
| Intangibles and goodwill | 1% | S100Y6U1 |
| Investment securities | 5% | S100Y6U1 |
| Other assets | 40% | S100Y6U1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 83% | S100Y6U1 |
| Equity | 17% | S100Y6U1 |
| Other liabilities | 0% | S100Y6U1 |

### 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 | 4,905 | 5,021 | 4,715 | 4,825 | 5,083 |
| Equity | -94 | 304 | 418 | 678 | 884 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,838 | 2,041 | 1,792 | 1,533 | 1,535 |

## 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) | 9.3% | S100Y6U1 |
| Fixed assets ÷ total assets | 24.0% | S100Y6U1 |
| Goodwill ÷ parent equity | — | —, S100Y6U1 |

### 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) | 30.2% |
| Cash ÷ revenue | 11.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 202.9% |
| Cash vs. profit gap | 301 JPY mn (of net income 146.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.6% |
| Investing CF relative to operating CF | 84.7% |

## 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 | — | —× | 6.4% | —× | — | S100QUAA |
| 2023 | — | —× | -1.5% | —× | — | S100TITA |
| 2024 | 1.0% | 2.32× | 2.3% | 13.51× | 31.6% | S100VTUH |
| 2025 | 2.2% | 2.54× | 5.5% | 8.71× | 47.6% | S100Y6U1 |
| 2026 | 1.6% | 2.63× | 4.1% | 6.35× | 26.3% | S100Y6U1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 金 山 精 三 郎 | Major shareholder | 41.9% | 2026-02-28 |
| アサヒビール株式会社 | Major shareholder | 1.8% | 2026-02-28 |
| 船 曵 睦 雄 | Major shareholder | 1.8% | 2026-02-28 |
| 森ビル株式会社 | Major shareholder | 1.8% | 2026-02-28 |
| 特定有価証券信託受託者 株式会社SMBC信託銀行 | Major shareholder | 1.1% | 2026-02-28 |
| ファンズソリューション株式会社 | Major shareholder | 0.6% | 2026-02-28 |
| 渡 邊 雅 之 | Major shareholder | 0.6% | 2026-02-28 |
| 株式会社プラットフォームホールディングス | Major shareholder | 0.6% | 2026-02-28 |
| 三本珈琲株式会社 | Major shareholder | 0.5% | 2026-02-28 |
| 岸 健 治 | Major shareholder | 0.3% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第27期(2025/03/01－2026/02/28) | S100Y6U1 | 2026-05-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y6U1,, |
| 有価証券報告書－第26期(2024/03/01－2025/02/28) | S100VTUH | 2025-05-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VTUH,, |
| 有価証券報告書－第25期(2023/03/01－2024/02/29) | S100TITA | 2024-05-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TITA,, |
| 有価証券報告書－第24期(2022/03/01－2023/02/28) | S100QUAA | 2023-05-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QUAA,, |
| 有価証券報告書－第23期(令和3年3月1日－令和4年2月28日) | S100O55X | 2022-05-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O55X,, |
| 有価証券報告書－第22期(令和2年3月1日－令和3年2月28日) | S100LFF9 | 2021-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LFF9,, |

## 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).