# Kimuratan vs Pigeon

> Unit: JPY millions (ratios in %)
> Periods: Kimuratan = FY ending Mar 2026, consolidated, J-GAAP / Pigeon = FY ending Dec 2025, consolidated, J-GAAP
> Retrieved: 2026-09-30T17:54:12.920Z

| Metric | Kimuratan | Pigeon |
| --- | ---: | ---: |
| Revenue | 2,533 | 109,170 |
| Operating income | 91 | 13,158 |
| Net income | -98 | 8,570 |
| COGS ratio | 70.4% | 49.8% |
| Operating margin | 3.6% | 12.1% |
| Net margin | -3.9% | 7.9% |
| FCF margin | 27.6% | 9.1% |
| Period | FY ending Mar 2026 | FY ending Dec 2025 |
| Source | S100YER7 | S100XS40 |

## 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 | Kimuratan | Pigeon |
| --- | ---: | ---: |
| Revenue growth | 2.4 (21 peers) | — |
| Profitability | 14 (25 peers) | — |
| Cash conversion | 98 (25 peers) | — |
| Efficiency | 6 (25 peers) | — |
| Financial strength | — | — |

## Company details

- https://vizora.meequs.com/en/company/kimuratan/md
- https://vizora.meequs.com/en/company/pigeon/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).