# Talent Agencies industry map (FY2025)

> Scope: 4 businesses (segment level)
> Unit: JPY millions. Each company's period is in the Period column
> Fiscal year: FY2025 = periods ending Apr 2025 to Mar 2026
> Page: https://vizora.meequs.com/en/industry/talent-agencies
> Retrieved: 2026-09-30T20:59:52.803Z

## Size and profitability

| # | Company (business) | Revenue | Share | Op. income | Op. margin | CAGR | Period |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| 1 | Amuse（Live Entertainment Business + 1 more） | 51,030 | 62.5% | 4,220 | 8.3% | +18.2%（4y） | FY ending Mar 2026 |
| 2 | KeyHolder（General Entertainment Business） | 14,550 | 17.8% | 1,809 | 12.4% | +9.6%（4y） | FY ending Dec 2025 |
| 3 | GREE Holdings（VTuber business） | 8,248 | 10.1% | 660 | 8.0% | — | FY ending Jun 2025 |
| 4 (↓1) | SM Entertainment Japan（Entertainment project） | 7,817 | 9.6% | 545 | 7.0% | +38.5%（4y） | FY ending Dec 2025 |

## Company-wide structure (¥100 model, FCF)

| Company | COGS | SG&A etc. | Op. income | Net income | FCF (JPY mn) | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Amuse | — | 91円 | 9円 | 4円 | 5,720 | — |
| KeyHolder | 82円 | 14円 | 4円 | 2円 | 3,004 | — |
| GREE Holdings | 49円 | 43円 | 8円 | 2円 | 668 | — |
| SM Entertainment Japan | 80円 | 18円 | 2円 | 4円 | 1,415 | — |

## Ownership links

| Company | Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: | ---: |
| Amuse | ㈱オオサト | Major shareholder | 27.8% | 2026-03-31 |
| Amuse | 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 7.1% | 2026-03-31 |
| Amuse | 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 5.3% | 2026-03-31 |
| Amuse | アミューズアーティスト持株会 | Major shareholder | 2.8% | 2026-03-31 |
| Amuse | ㈱日本カストディ銀行（信託口） | Major shareholder | 2.8% | 2026-03-31 |
| Amuse | 大里 洋吉 | Major shareholder | 2.7% | 2026-03-31 |
| Amuse | 大里 久仁子 | Major shareholder | 2.6% | 2026-03-31 |
| Amuse | 日本マスタートラスト信託銀行㈱（株式付与ESOP信託口・75971口） | Major shareholder | 2.1% | 2026-03-31 |
| Amuse | ㈱ナチュラリ | Major shareholder | 1.5% | 2026-03-31 |
| Amuse | BNP PARIBAS SINGAPORE/2S/ JASDEC/TD SECURITIES （USA） LLC/BOOK-ENTRY JGBS+CORPORATE BONDS/TAXABLE （常任代理人 香港上海銀行東京支店） | Major shareholder | 1.4% | 2026-03-31 |
| GREE Holdings | 株式会社セコイア | Major shareholder | 61.8% | 2026-06-30 |
| GREE Holdings | 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 4.8% | 2026-06-30 |
| GREE Holdings | 日本マスタートラスト信託銀行株式会社（株式付与ＥＳＯＰ信託口・76166口） | Major shareholder | 2.8% | 2026-06-30 |
| GREE Holdings | 日本マスタートラスト信託銀行株式会社（役員報酬ＢＩＰ信託口・76759口） | Major shareholder | 1.5% | 2026-06-30 |
| GREE Holdings | 株式会社日本カストディ銀行（信託口） | Major shareholder | 1.1% | 2026-06-30 |
| GREE Holdings | 藤本 真樹 | Major shareholder | 1.1% | 2026-06-30 |
| GREE Holdings | 内藤 征吾 | Major shareholder | 1.0% | 2026-06-30 |
| GREE Holdings | セントラル短資株式会社 | Major shareholder | 0.7% | 2026-06-30 |
| GREE Holdings | ＢＮＰ ＰＡＲＩＢＡＳ ＳＩＮＧＡＰＯＲＥ／２Ｓ／ＪＡＳＤＥＣ／ＴＤ ＳＥＣＵＲＩＴＩＥＳ （ＵＳＡ） ＬＬＣ／ＢＯＯＫ－ＥＮＴＲＹ ＪＧＢＳ＋ＣＯＲＰＯＲＡＴＥ ＢＯＮＤＳ／ＴＡＸＡＢＬＥ（常任代理人 香港上海銀行東京支店） | Major shareholder | 0.7% | 2026-06-30 |
| GREE Holdings | 山岸 広太郎 | Major shareholder | 0.5% | 2026-06-30 |
| KeyHolder | Ｊトラスト株式会社 | Major shareholder | 30.1% | 2025-12-31 |
| KeyHolder | 秋元 康 | Major shareholder | 7.6% | 2025-12-31 |
| KeyHolder | 株式会社表参道キャピタル | Major shareholder | 7.3% | 2025-12-31 |
| KeyHolder | 株式会社ＳＭＥＪ Ｐｌｕｓ | Major shareholder | 2.6% | 2025-12-31 |
| KeyHolder | 森田 篤 | Major shareholder | 2.0% | 2025-12-31 |
| KeyHolder | 株式会社フォースリー | Major shareholder | 1.6% | 2025-12-31 |
| KeyHolder | 赤塚 善洋 | Major shareholder | 1.6% | 2025-12-31 |
| KeyHolder | 株式会社第一興商 | Major shareholder | 1.6% | 2025-12-31 |
| KeyHolder | 髙澤 真 | Major shareholder | 1.4% | 2025-12-31 |
| KeyHolder | 野村證券株式会社 | Major shareholder | 1.2% | 2025-12-31 |
| SM Entertainment Japan | 株式会社SMEJ Holdings | Major shareholder | 66.1% | 2025-12-31 |
| SM Entertainment Japan | KOREA SECURITIES DEPOSITORY-SAMSUNG （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 7.5% | 2025-12-31 |
| SM Entertainment Japan | KSD-MIRAE ASSET SECURITIES(CLIENT) （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 7.2% | 2025-12-31 |
| SM Entertainment Japan | MACQUARIE BANK LIMITED DBU AC （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 4.1% | 2025-12-31 |
| SM Entertainment Japan | 株式会社サンライズ | Major shareholder | 0.9% | 2025-12-31 |
| SM Entertainment Japan | JPモルガン証券株式会社 | Major shareholder | 0.3% | 2025-12-31 |
| SM Entertainment Japan | 宇田川昇平 | Major shareholder | 0.3% | 2025-12-31 |
| SM Entertainment Japan | 櫻井考明 | Major shareholder | 0.2% | 2025-12-31 |
| SM Entertainment Japan | 栃木裕美子 | Major shareholder | 0.2% | 2025-12-31 |
| SM Entertainment Japan | ケイテイ コーポレーション （常任代理人 株式会社ケイティ・ジャパン） | Major shareholder | 0.2% | 2025-12-31 |

## Company details

- https://vizora.meequs.com/en/company/amuse/md
- https://vizora.meequs.com/en/company/keyholder/md
- https://vizora.meequs.com/en/company/gree-holdings/md
- https://vizora.meequs.com/en/company/sm-entertainment-japan/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).