# 株式会社ベルシステム24ホールディングス vs TOPPAN Holdings

> Unit: JPY millions (ratios in %)
> Periods: 株式会社ベルシステム24ホールディングス = FY ending Feb 2026, consolidated, IFRS / TOPPAN Holdings = FY ending Mar 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T19:03:52.727Z

| Metric | 株式会社ベルシステム24ホールディングス | TOPPAN Holdings |
| --- | ---: | ---: |
| Revenue | 145,826 | 1,805,033 |
| Operating income | 12,652 | 67,108 |
| Net income | 8,181 | 64,801 |
| COGS ratio | 81.1% | 76.5% |
| Operating margin | 8.7% | 3.7% |
| Net margin | 5.6% | 3.6% |
| FCF margin | 10.6% | -3.4% |
| Period | FY ending Feb 2026 | FY ending Mar 2026 |
| Source | S100Y5Z2 | S100YIAY |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | 株式会社ベルシステム24ホールディングス | TOPPAN Holdings |
| --- | ---: | ---: |
| Revenue growth | 19.4 (18 peers) | 80.4 (23 peers) |
| Profitability | 78.6 (21 peers) | 62.5 (28 peers) |
| Cash conversion | 55.9 (17 peers) | 31.3 (24 peers) |
| Efficiency | 16.7 (21 peers) | 19.6 (28 peers) |
| Financial strength | — | 30 (5 peers) |

## Company details

- https://vizora.meequs.com/en/company/bell24/md
- https://vizora.meequs.com/en/company/toppan-holdings/md

## 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).