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Aoyama Zaisan Networks

Aoyama Zaisan Networks Company,Limited

Company highlights

The annual dividend per share has risen for 3 consecutive years.

Key figures

Period Jan 2025 to Dec 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥41.8B
Operating marginCalculated 9.2%
Net assets to total assetsCalculated 44.6%

Company profile

Securities code 8929 / EDINET code E05407 / Real Estate / Fiscal year end December 31

港区赤坂八丁目4番14号青山タワープレイス3階/Capital stock ¥1,271 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Official website: https://www.azn.co.jp/
Official website: gBizINFO (Ministry of Economy, Trade and Industry).

Company details
蓮見 正純 Representative
14 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Jan 2025 to Dec 2025) · filed 2026-03-24

Profitability ★★★★☆position among all companies 9.2%
Growth (revenue, 4-year average) ★★★★★position among all companies 14.6%
Capital efficiency ★★★★★position among all companies 25.7%

Business activities and revenue composition

Revenue and profit by business segment

Disclosed segments (business divisions used in reporting): one

Revenue and profit

Aoyama Zaisan Networks

Period Jan 2025 to Dec 2025Source Annual securities reports

Net sales and operating revenue ¥41.8B 100% Cost of sales ¥33.3B 80% Selling, general and administrative expenses ¥4.6B 11% Operating income ¥3.9B 9%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Personnel expenses ¥1.7 billion Consolidated
Rents ¥0.4 billion Consolidated
Fee expenses ¥0.4 billion Consolidated
Depreciation ¥0.2 billion Parent only
Amortization of goodwill ¥0.1 billion Consolidated
Profit by stage Gross profit (loss) ¥8.5 billion Consolidated
Operating income ¥3.9 billion Consolidated
Ordinary income ¥3.8 billion Consolidated
Net income ¥2.8 billion Consolidated

Aoyama Zaisan Networks

Selling, general and administrative expenses

Period Jan 2025 to Dec 2025Source Annual securities reports

Personnel expenses ¥1.7 billion (36.5%)37%Rents ¥0.4 billion (8.4%)8%Fee expenses ¥0.4 billion (8.0%)8%Depreciation ¥0.2 billion (3.6%)Amortization of goodwill ¥0.1 billion (2.8%)Other (not itemized) ¥1.9 billion (40.7%)41%¥4.6B
  • Personnel expenses ¥1.7 billion
  • Rents ¥0.4 billion
  • Fee expenses ¥0.4 billion
  • Depreciation ¥0.2 billion
  • Amortization of goodwill ¥0.1 billion
  • Other (not itemized) ¥1.9 billion

Performance, financial position and capital allocation

Finance
44.6% Net assets to total assets Industry median 33.5% FY ending 12/2025 · consolidated / calculated
10.5% Return on assets (ROA)
¥486.24 Net assets per share
¥1.8 billion Free cash flow
¥26.3 billion Total assets
¥1.2 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
23.5% Cash conversion Industry median 36.4% FY ending 12/2025 · consolidated / calculated
7.8% Increase in working capital ★★★★★ position among all companies FY ending 12/2025 · consolidated / calculated
13.5% Property, plant and equipment purchases relative to depreciation ★☆☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
127.1% Return to shareholders ★★★★★ position among all companies FY ending 12/2025 · consolidated / calculated
0.0% Extraordinary gains and losses relative to ordinary profit ★★★☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
18.0% Investment securities to net assets ★★★★☆ position among all companies FY ending 12/2025 · consolidated / calculated

Long-term changes in performance

Period 2012 to 2025Disclosed

Revenue ×7.16 from 2012 to 2025

Aoyama Zaisan Networks

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
46 30 15 0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2014 Operating revenue year on year +46.1%, Ordinary income (loss) as a share of revenue +2.8 points 2015 Operating revenue year on year +53.4% 2017 Ordinary income (loss) as a share of revenue +2.1 points 2021 Net sales year on year +26.6% 2022 Net sales year on year +48.5% 2023 Ordinary income (loss) as a share of revenue +2.4 points 2024 Net sales year on year +26.4% 42Latest value 2025 42¥ billion 46Highest in the period shown 2024 46¥ billion 6Lowest in the period shown 2012 6¥ billion ¥ billion

Aoyama Zaisan Networks

Recent performance trends

Source Annual securities reports

46 30 15 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2012 to 2025Disclosed

Item20212022202320242025
Net sales ¥24.2B ¥36.0B ¥36.1B ¥45.6B ¥41.8B
Year on year (%) +26.6%◆ +48.5%◆ +0.4% +26.4%◆ -8.4%
Ordinary income (loss) ¥1.8B ¥2.5B ¥3.4B ¥3.5B ¥3.8B
Change from prior year +50.2% +39.1% +34.4% +3.6% +7.9%
Ordinary income (loss) as a share of Net sales 7.4% 7.0% 9.3% 7.6% 9.0%
Change (percentage points) +1.2 points -0.5 points +2.4 points◆ -1.7 points +1.4 points

Fiscal periods marked for changes

Earlier fiscal periods (4)
  • 2014Operating revenue year on year +46.1%, Ordinary income (loss) as a share of revenue +2.8 points
  • 2015Operating revenue year on year +53.4%
  • 2017Ordinary income (loss) as a share of revenue +2.1 points
  • 2021Net sales year on year +26.6%
  • 2022Net sales year on year +48.5%
  • 2023Ordinary income (loss) as a share of revenue +2.4 points
  • 2024Net sales year on year +26.4%

Aoyama Zaisan Networks

Earnings and net assets per share over time

Unit yenSource Annual securities reports

115 77 38 -0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 486 324 162 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

Aoyama Zaisan Networks

Return on equity over time

Unit %Source Annual securities reports

26 17 9 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥24.2 billion ¥36.0 billion ¥36.1 billion ¥45.6 billion ¥41.8 billion
Ordinary income (loss) ¥1.8 billion ¥2.5 billion ¥3.4 billion ¥3.5 billion ¥3.8 billion
Net income (loss) attributable to owners of parent ¥1.5 billion ¥1.7 billion ¥2.1 billion ¥2.4 billion ¥2.8 billion
Comprehensive income ¥1.5 billion ¥1.8 billion ¥2.1 billion ¥2.4 billion ¥3.0 billion
Net assets ¥7.1 billion ¥8.3 billion ¥9.6 billion ¥9.8 billion ¥11.7 billion
Total assets ¥17.4 billion ¥21.8 billion ¥23.5 billion ¥23.3 billion ¥26.3 billion
Net assets per share 294.61 yen 340.13 yen 390.42 yen 408.17 yen 486.24 yen
Basic earnings (loss) per share 61.22 yen 69.82 yen 84.81 yen 100.03 yen 114.78 yen
Diluted earnings per share 60.91 yen 69.75 yen 84.74 yen 99.84 yen 114.56 yen
Equity-to-asset ratio 40.8% 38.0% 40.4% 42.0% 44.4%
Return on equity 22.0% 22.0% 23.2% 25.2% 25.7%
Net cash provided by (used in) operating activities ¥2.4 billion ¥2.2 billion ¥2.5 billion ¥6.7 billion ¥0.9 billion
Net cash provided by (used in) investing activities ¥-0.6 billion ¥-1.3 billion ¥0.2 billion ¥-2.7 billion ¥0.9 billion
Net cash provided by (used in) financing activities ¥-0.4 billion ¥0.9 billion ¥-0.9 billion ¥-5.8 billion ¥-0.9 billion
Cash and cash equivalents ¥10.9 billion ¥12.8 billion ¥14.7 billion ¥12.9 billion ¥13.8 billion
Parent only indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥21.7 billion ¥33.8 billion ¥33.7 billion ¥42.9 billion ¥36.4 billion
Ordinary income (loss) ¥1.6 billion ¥2.1 billion ¥2.6 billion ¥3.0 billion ¥2.5 billion
Net income (loss) ¥1.4 billion ¥1.5 billion ¥1.7 billion ¥2.2 billion ¥2.1 billion
Capital stock ¥1.2 billion ¥1.2 billion ¥1.2 billion ¥1.3 billion ¥1.3 billion
Total number of issued shares (common stock) 24,362,800 shares 24,520,859 shares 24,520,859 shares 25,103,459 shares 25,123,859 shares
Net assets ¥6.6 billion ¥7.5 billion ¥8.5 billion ¥8.5 billion ¥9.6 billion
Total assets ¥14.8 billion ¥18.4 billion ¥18.8 billion ¥16.2 billion ¥17.8 billion
Net assets per share 274.86 yen 307.81 yen 345.37 yen 351.95 yen 401.34 yen
Dividend per share 39 yen 35 yen 41 yen 46 yen 53 yen
Interim dividend per share 22 yen 13 yen 15 yen 18 yen 20 yen
Basic earnings (loss) per share 59.36 yen 60.11 yen 68.46 yen 89.14 yen 85.77 yen
Diluted earnings per share 59.06 yen 60.05 yen 68.4 yen 88.97 yen 85.61 yen
Equity-to-asset ratio 44.8% 40.7% 44.7% 51.9% 54.1%
Return on equity 22.7% 20.7% 22.1% 25.7% 22.8%
Payout ratio 47.2% 58.2% 59.9% 51.6% 61.8%

Dividend history

Source: reporting company’s key figures, annual securities reports · 14 years (2012 to 2025)Parent-onlyDisclosed

3 periods Consecutive increases (own definition) through FY ending 12/2025
4 periods Consecutive periods with dividends (site definition) through FY ending 12/2025
+15.2% Dividend growth (year on year)
Fewer than six years Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 12/2025 ¥53 ¥20 61.8%
FY ending 12/2024 ¥46 ¥18 51.6%
FY ending 12/2023 ¥41 ¥15 59.9%
FY ending 12/2022 ¥35 ¥13 58.2%
FY ending 12/2021 ¥39 ¥22 47.2% Stock split or share consolidation noted
FY ending 12/2020 ¥53 ¥20 73.7%
FY ending 12/2019 ¥50 ¥17 39.1%
FY ending 12/2018 ¥39 ¥14 46.3%
FY ending 12/2017 ¥30 ¥11 48.6%
FY ending 12/2016 ¥23 ¥8 48.7%
FY ending 12/2015 ¥18 ¥5 43.9%
FY ending 12/2014 ¥15 ¥5 50.3% Stock split or share consolidation noted
FY ending 12/2013 ¥1,000 Could not be retrieved 102.7%
FY ending 12/2012 ¥750 Could not be retrieved 76.5%

Aoyama Zaisan Networks

Dividends per share over time

Unit yenSource Annual securities reports

53 35 18 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

7,427 Shareholders
22.27% Foreign holders (total) Industry median 3.47%
58.60% Individuals and others Industry median 48.70%

Aoyama Zaisan Networks

Unit %Source Annual securities reports

  • Financial institutions4.98%
  • Securities firms2.00%
  • Other corporations12.15%
  • Foreign holders (institutions)22.22%
  • Foreign holders (individuals)0.05%
  • Individuals and others58.60%

Major shareholders

RankShareholderShareholding ratioShares held
1 蓮見 正純 10.61% 2,541,505
2 AVI JAPAN OPPORTUNITY TRUST PLC(常任代理人 株式会社みずほ銀行決済営業部) 7.42% 1,779,100
3 USBK NA JP I&W TS(常任代理人 株式会社三菱UFJ銀行) 4.94% 1,183,400
4 株式会社日本M&Aセンター 4.17% 1,000,000
5 MSIP CLIENT SECURITIES(常任代理人 モルガン・スタンレーMUFG証券株式会社) 2.66% 638,000
6 株式会社日本カストディ銀行(年金信託口) 2.38% 571,000
7 株式会社キャピタル・アセット・プランニング 1.67% 400,000
8 青山財産ネットワークス社員持株会 1.51% 362,700
9 株式会社チェスター財産コンサルタンツ中央区八重洲1丁目7-20-2F 1.25% 300,000
10 株式会社チェスターマネジメント中央区八重洲1丁目7-20-2F 1.25% 300,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2020 to 2025)Disclosed

Not disclosed Research and development
¥0.1 billion Capital expenditure 0.3% of revenue (industry median 2.2%)
Fiscal year Capital expenditure
FY ending 12/2025 ¥0.1 billion
FY ending 12/2020 ¥0.6 billion

Revenue scale in the same industry

Aoyama Zaisan Networks

Source Annual securities reports of each company

Real Estate: 147 companies · revenue · largest first・each company’s latest fiscal year・consolidated (parent-only where no consolidated figures)・Disclosed

Workforce information

Source: Annual Securities Report (Jan 2025 to Dec 2025)Parent-onlyDisclosed

268 Employees (parent only) Industry median 102
39.9 Average age Industry median 39.2
6.5 years Average length of service Industry median 6.3 years
¥9.29 million Average annual salary Industry median ¥7.07 million
People and organisation
105.0¥ million Sales per employee Industry median 122.0¥ million FY ending 12/2025 · consolidated / calculated
¥9.69 million Operating income per employee
62.6% Wage gap between men and women
15.4% Women in managerial positions
71.4% Men taking childcare leave
Men 6.8 yrs
Women 5.6 yrs
Average length of service by gender
10 / 64 Female managers

Administrative filings and published information

Workplace information filings

Filed 2026-04-23Disclosed

ItemValue
Employees 223
Average monthly overtime (statutory overtime plus work on statutory days off)
Scope: 正社員
17.2 hours
Share of managers who are women 15.6%

Audit and disclosure information

Annual securities report, year ended 2025-12-31Disclosed

ItemValue
Audit firm 監査法人A&Aパートナーズ
Audit fees (this year, total) ¥33.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Cannot be determined
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (30 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥3.0 billion Consolidated
Net cash provided by (used in) operating activities ¥0.9 billion Consolidated
Net sales ¥41.8 billion Consolidated
Net cash provided by (used in) investing activities ¥0.9 billion Consolidated
Diluted earnings per share 114.56 yen Consolidated
Cash and cash equivalents ¥13.8 billion Consolidated
Net assets ¥11.7 billion Consolidated
Ordinary income (loss) ¥3.8 billion Consolidated
Total assets ¥26.3 billion Consolidated
Return on equity 25.7% Consolidated
Equity-to-asset ratio 44.4% Consolidated
Net income (loss) attributable to owners of parent ¥2.8 billion Consolidated
Net cash provided by (used in) financing activities ¥-0.9 billion Consolidated
Basic earnings (loss) per share 114.78 yen Consolidated
Net assets per share 486.24 yen Consolidated
Dividend per share 53 yen Parent only
Net sales ¥36.4 billion Parent only
Net income (loss) ¥2.1 billion Parent only
Diluted earnings per share 85.61 yen Parent only
Total number of issued shares (common stock) 25,123,859 shares Parent only
Net assets ¥9.6 billion Parent only
Ordinary income (loss) ¥2.5 billion Parent only
Total assets ¥17.8 billion Parent only
Return on equity 22.8% Parent only
Equity-to-asset ratio 54.1% Parent only
Capital stock ¥1.3 billion Parent only
Payout ratio 61.8% Parent only
Interim dividend per share 20 yen Parent only
Basic earnings (loss) per share 85.77 yen Parent only
Net assets per share 401.34 yen Parent only

Employees (11 items)

ItemValueConsolidated / Non-consolidated
Number of employees 398 people Consolidated
Number of employees 398 people Consolidated
Wage gap between men and women (all employees) 62.6% Parent only
Average length of service (years) 6.47 years Parent only
Average annual salary ¥9.29 million Parent only
Average age (years) 39.9 years old Parent only
Number of employees 268 people Parent only
Number of employees 268 people Parent only
Number of employees 268 people Parent only
Wage gap between men and women (regular employees) 66.3% Parent only
Wage gap between men and women (non-regular employees) 29.6% Parent only

Shares (14 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 9,075,705 shares Consolidated
Total number of shares held treasury shares etc 1,145,200 shares Consolidated
Number of issues whose number of shares decreased shares not listed investment shares held for purposes other than pure investment reporting company 2 issues Consolidated
Total sale amount for decreased shares shares not listed investment shares held for purposes other than pure investment reporting company ¥0.1 billion Consolidated
Number of shares 25,123,859 shares Consolidated
Shareholding ratio treasury shares etc 4.6% Consolidated
Shareholding ratio 37.9% Consolidated
Number of shares held in own name treasury shares etc 1,145,200 shares Consolidated
Number of voting rights 239,453 units Consolidated
Carrying amount on the balance sheet ¥23.00 million Consolidated
Carrying amount on the balance sheet ¥1.4 billion Consolidated
Number of issues 19 issues Consolidated
Number of issues 3 issues Consolidated
Total shareholder return 222.2% Parent only

Other disclosed items (6 items)

ItemValueConsolidated / Non-consolidated
Number of unconsolidated subsidiaries and associates accounted for using equity method 1 companies Consolidated
Write-downs of inventories ¥72.00 million Consolidated
Number of consolidated subsidiaries 14 companies Consolidated
Rate of male employees taking childcare leave (all employees) 71.4% Parent only
Total return on the share price index 213.2% Parent only
Ratio of female employees in managerial positions 15.4% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥0.1 billion Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥33.00 million Consolidated
Fees for audit and attestation services - total ¥33.00 million Consolidated

Balance sheet (113 items)

ItemValueConsolidated / Non-consolidated
Other ¥1.00 million Consolidated
Other ¥0.4 billion Consolidated
Other ¥0.3 billion Consolidated
Other ¥1.0 billion Consolidated
Other ¥0.5 billion Consolidated
Other ¥19.00 million Consolidated
Other inventories ¥6.00 million Consolidated
Valuation difference on available-for-sale securities ¥0.6 billion Consolidated
Other, net ¥68.00 million Consolidated
Goodwill ¥1.2 billion Consolidated
Software ¥0.1 billion Consolidated
Retained earnings ¥9.7 billion Consolidated
Non-current liabilities ¥8.5 billion Consolidated
Non-current assets ¥6.7 billion Consolidated
Land ¥1.00 million Consolidated
Accounts receivable - trade ¥0.8 billion Consolidated
Buildings and structures ¥0.4 billion Consolidated
Buildings and structures, net ¥0.3 billion Consolidated
Investments and other assets ¥2.8 billion Consolidated
Investment securities ¥2.1 billion Consolidated
Subscription rights to shares ¥22.00 million Consolidated
Property, plant and equipment ¥0.3 billion Consolidated
Income taxes payable ¥0.5 billion Consolidated
Accounts payable - other ¥1.9 billion Consolidated
Shareholders' equity ¥11.1 billion Consolidated
Current liabilities ¥6.1 billion Consolidated
Current assets ¥19.6 billion Consolidated
Accumulated depreciation ¥-0.2 billion Consolidated
Accumulated depreciation ¥-0.1 billion Consolidated
Foreign currency translation adjustment ¥-58.00 million Consolidated
Intangible assets ¥3.6 billion Consolidated
Cash and cash equivalents ¥13.8 billion Consolidated
Cash and deposits ¥14.1 billion Consolidated
Short-term loans payable ¥0.1 billion Consolidated
Bonds payable ¥50.00 million Consolidated
Net assets ¥11.7 billion Consolidated
Net assets ¥11.7 billion Consolidated
Total assets ¥26.3 billion Consolidated
Deferred tax liabilities ¥0.8 billion Consolidated
Deferred tax assets ¥0.2 billion Consolidated
Treasury stock ¥-2.0 billion Consolidated
Valuation and translation adjustments ¥0.5 billion Consolidated
Liabilities ¥14.6 billion Consolidated
Liabilities and net assets ¥26.3 billion Consolidated
Real estate for sale ¥4.2 billion Consolidated
Accounts payable - trade ¥0.3 billion Consolidated
Allowance for doubtful accounts ¥-2.00 million Consolidated
Capital surplus ¥2.1 billion Consolidated
Capital stock ¥1.3 billion Consolidated
Long-term loans payable ¥3.8 billion Consolidated
Long term accounts payable other ¥41.00 million Consolidated
Long term lease and guarantee deposited ¥3.8 billion Consolidated
Shares of subsidiaries and associates ¥39.00 million Consolidated
Non-controlling interests ¥31.00 million Consolidated
Current portion of bonds payable ¥20.00 million Consolidated
Current portion of long-term loans payable ¥2.2 billion Consolidated
Other ¥28.00 million Parent only
Other ¥38.00 million Parent only
Other ¥0 Parent only
Other ¥77.00 million Parent only
Other ¥1.00 million Parent only
Other inventories ¥4.00 million Parent only
Valuation difference on available-for-sale securities ¥0.6 billion Parent only
Other capital surplus ¥0.6 billion Parent only
Software ¥0.1 billion Parent only
Retained earnings ¥7.6 billion Parent only
Legal retained earnings ¥21.00 million Parent only
Unearned revenue ¥6.00 million Parent only
Advances received ¥7.00 million Parent only
Prepaid expenses ¥96.00 million Parent only
Advance payments trade ¥94.00 million Parent only
Non-current liabilities ¥3.7 billion Parent only
Non-current assets ¥7.4 billion Parent only
Land ¥1.00 million Parent only
Accounts receivable - trade ¥0.5 billion Parent only
Tools, furniture and fixtures ¥45.00 million Parent only
Buildings, net ¥0.2 billion Parent only
Investments and other assets ¥7.1 billion Parent only
Investment securities ¥2.1 billion Parent only
Lease and guarantee deposits ¥0.2 billion Parent only
Subscription rights to shares ¥22.00 million Parent only
Property, plant and equipment ¥0.2 billion Parent only
Accounts receivable - other ¥10.00 million Parent only
Income taxes payable ¥42.00 million Parent only
Accrued expenses ¥2.00 million Parent only
Accounts payable - other ¥1.6 billion Parent only
Shareholders' equity ¥9.0 billion Parent only
Current liabilities ¥4.4 billion Parent only
Current assets ¥10.4 billion Parent only
Intangible assets ¥0.1 billion Parent only
Cash and deposits ¥6.0 billion Parent only
Advances paid ¥0.1 billion Parent only
Net assets ¥9.6 billion Parent only
Net assets ¥9.6 billion Parent only
Total assets ¥17.8 billion Parent only
Deferred tax assets ¥0.2 billion Parent only
Retained earnings brought forward ¥7.6 billion Parent only
Treasury stock ¥-2.0 billion Parent only
Valuation and translation adjustments ¥0.6 billion Parent only
Liabilities ¥8.1 billion Parent only
Liabilities and net assets ¥17.8 billion Parent only
Real estate for sale ¥3.2 billion Parent only
Accounts payable - trade ¥0.2 billion Parent only
Allowance for doubtful accounts ¥-0.4 billion Parent only
Capital surplus ¥2.1 billion Parent only
Legal capital surplus ¥1.4 billion Parent only
Capital stock ¥1.3 billion Parent only
Long-term loans payable ¥3.7 billion Parent only
Long term accounts payable other ¥28.00 million Parent only
Shares of subsidiaries and associates ¥4.5 billion Parent only
Loans receivable to subsidiaries and affiliates ¥0.6 billion Parent only
Deposits received ¥0.4 billion Parent only
Current portion of long-term loans payable ¥2.2 billion Parent only

Accounts unique to this company (5 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥2.3 billion Consolidated
Revenue ¥26.00 million Consolidated
Revenue ¥2.7 billion Consolidated
Revenue ¥0.1 billion Parent only
Revenue ¥26.00 million Parent only

Statement of income (85 items)

ItemValueConsolidated / Non-consolidated
Other ¥23.00 million Consolidated
Other ¥3.00 million Consolidated
Other ¥1.00 million Consolidated
Other comprehensive income ¥0.2 billion Consolidated
Valuation difference on available for sale securities net of tax ¥0.2 billion Consolidated
Amortization of goodwill ¥0.1 billion Consolidated
Personnel expenses ¥1.7 billion Consolidated
Dividends from surplus ¥-1.1 billion Consolidated
Comprehensive income ¥3.0 billion Consolidated
Gain on investments in silent partnerships ¥20.00 million Consolidated
Interest income ¥25.00 million Consolidated
Dividend income ¥18.00 million Consolidated
Operating income ¥3.9 billion Consolidated
Non-operating income ¥88.00 million Consolidated
Non-operating expenses ¥0.2 billion Consolidated
Net cash provided by (used in) operating activities ¥0.9 billion Consolidated
Loss on retirement of non-current assets ¥13.00 million Consolidated
Rents ¥0.4 billion Consolidated
Cost of sales ¥33.3 billion Consolidated
Gross profit (loss) ¥8.5 billion Consolidated
Net sales ¥41.8 billion Consolidated
Net income ¥2.8 billion Consolidated
Net income ¥2.8 billion Consolidated
Net income (loss) ¥2.8 billion Consolidated
Net income (loss) ¥2.8 billion Consolidated
Gain on sales of investment securities ¥24.00 million Consolidated
Net cash provided by (used in) investing activities ¥0.9 billion Consolidated
Share of loss of investments accounted for using equity method ¥0 Consolidated
Interest expenses ¥0.1 billion Consolidated
Fee expenses ¥0.4 billion Consolidated
Commission fees ¥39.00 million Consolidated
Issuance of new shares ¥24.00 million Consolidated
Income taxes - current ¥1.2 billion Consolidated
Income taxes ¥1.0 billion Consolidated
Income taxes - deferred ¥-0.2 billion Consolidated
Impairment loss ¥9.00 million Consolidated
Foreign exchange losses ¥7.00 million Consolidated
Foreign currency translation adjustment net of tax ¥-5.00 million Consolidated
Extraordinary income ¥24.00 million Consolidated
Extraordinary loss ¥24.00 million Consolidated
Effect of exchange rate change on cash and cash equivalents ¥-0 Consolidated
Net increase (decrease) in cash and cash equivalents ¥0.9 billion Consolidated
Income (loss) before income taxes ¥3.8 billion Consolidated
Income (loss) before income taxes ¥3.8 billion Consolidated
Ordinary income ¥3.8 billion Consolidated
Comprehensive income attributable to owners of parent ¥3.0 billion Consolidated
Net cash provided by (used in) financing activities ¥-0.9 billion Consolidated
Selling, general and administrative expenses ¥4.6 billion Consolidated
Comprehensive income attributable to non-controlling interests ¥16.00 million Consolidated
Net income (loss) attributable to non-controlling interests ¥16.00 million Consolidated
Other ¥34.00 million Parent only
Other ¥2.00 million Parent only
Other ¥1.00 million Parent only
Personnel expenses ¥1.2 billion Parent only
Dividends from surplus ¥-1.1 billion Parent only
Office work fee ¥80.00 million Parent only
Interest income ¥21.00 million Parent only
Dividend income ¥0.2 billion Parent only
Operating income ¥2.4 billion Parent only
Non-operating income ¥0.4 billion Parent only
Non-operating expenses ¥0.3 billion Parent only
Loss on retirement of non-current assets ¥10.00 million Parent only
Rents ¥0.3 billion Parent only
Cost of sales ¥30.7 billion Parent only
Gross profit (loss) ¥5.7 billion Parent only
Net sales ¥36.4 billion Parent only
Net income (loss) ¥2.1 billion Parent only
Net income (loss) ¥2.1 billion Parent only
Gain on sales of investment securities ¥24.00 million Parent only
Interest expenses ¥0.1 billion Parent only
Fee expenses ¥0.4 billion Parent only
Commission fees ¥39.00 million Parent only
Issuance of new shares ¥24.00 million Parent only
Income taxes - current ¥0.5 billion Parent only
Income taxes ¥0.4 billion Parent only
Income taxes - deferred ¥-77.00 million Parent only
Depreciation ¥0.2 billion Parent only
Impairment loss ¥9.00 million Parent only
Foreign exchange losses ¥15.00 million Parent only
Extraordinary income ¥24.00 million Parent only
Extraordinary loss ¥21.00 million Parent only
Income (loss) before income taxes ¥2.5 billion Parent only
Ordinary income ¥2.5 billion Parent only
Selling, general and administrative expenses ¥3.3 billion Parent only
Provision of allowance for doubtful accounts ¥97.00 million Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥1.9 billion Consolidated
Net changes in items other than shareholders' equity ¥0.2 billion Consolidated
Total changes during the period ¥1.2 billion Parent only
Net changes in items other than shareholders' equity ¥0.2 billion Parent only

Statement of cash flows (40 items)

ItemValueConsolidated / Non-consolidated
Other ¥-62.00 million Consolidated
Other ¥0 Consolidated
Amortization of goodwill ¥0.1 billion Consolidated
Purchase of golf club memberships ¥-4.00 million Consolidated
Proceeds from exercise of stock options ¥17.00 million Consolidated
Increase decrease in notes and accounts payable trade ¥-82.00 million Consolidated
Interest expenses paid ¥-0.1 billion Consolidated
Interest and dividends income received ¥44.00 million Consolidated
Increase (decrease) in advances received ¥-31.00 million Consolidated
Decrease (increase) in advance payments to suppliers ¥0.3 billion Consolidated
Loss gain on investments in silent partnership ¥-20.00 million Consolidated
Interest and dividend income ¥-44.00 million Consolidated
Loss on retirement of non-current assets ¥13.00 million Consolidated
Decrease increase in notes and accounts receivable trade ¥-0.3 billion Consolidated
Payments into time deposits ¥-0.1 billion Consolidated
Subtotal ¥2.1 billion Consolidated
Purchase of investment securities ¥-1.6 billion Consolidated
Loss (gain) on sales of long-term investment securities ¥-24.00 million Consolidated
Interest expenses ¥0.1 billion Consolidated
Proceeds from refund of leasehold deposits ¥15.00 million Consolidated
Payments for lease and guarantee deposits ¥-3.00 million Consolidated
Purchase of property plant and equipment ¥-49.00 million Consolidated
(Increase) decrease in accounts receivables other ¥-30.00 million Consolidated
Decrease in consumption taxes payable ¥-0.4 billion Consolidated
Increase (decrease) in accounts payable-other ¥0.5 billion Consolidated
Decrease (increase) in inventories ¥-3.0 billion Consolidated
Income taxes refund (paid) ¥-1.1 billion Consolidated
Depreciation ¥0.4 billion Consolidated
Impairment loss ¥9.00 million Consolidated
Purchase of intangible assets ¥-85.00 million Consolidated
Net increase (decrease) in short-term borrowings ¥-0.1 billion Consolidated
Redemption of bonds ¥-20.00 million Consolidated
Decrease increase in advances paid ¥-3.00 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥-5.00 million Consolidated
Dividends ¥-1.1 billion Consolidated
Proceeds from long term loans payable ¥3.0 billion Consolidated
Repayment of long term loans payable ¥-2.6 billion Consolidated
Increase decrease in long term accounts payable other ¥-1.00 million Consolidated
Increase decrease in lease and guarantee deposits received ¥0.7 billion Consolidated
Increase (decrease) in deposits ¥0.1 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥0.9 billion ConsolidatedDisclosed
Dividend per share 53 Parent onlyDisclosed
Number of employees 398 ConsolidatedDisclosed
Net assets ¥11.7 billion ConsolidatedDisclosed
Net sales ¥41.8 billion ConsolidatedDisclosed
Operating income ¥3.9 billion ConsolidatedDisclosed
Ordinary income ¥3.8 billion ConsolidatedDisclosed
Net income ¥2.8 billion ConsolidatedDisclosed
Total assets ¥26.3 billion ConsolidatedDisclosed
Operating margin 9.2%ConsolidatedCalculated
Net margin 6.6%ConsolidatedCalculated
Sales per employee 104987437 yenConsolidatedCalculated
Total asset turnover 1.59 timesConsolidatedCalculated
Net assets to total assets 44.6%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 9.2% Operating income ÷ net sales  = ¥3.9 billion ÷ ¥41.8 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 6.6% Net income ÷ net sales  = ¥2.8 billion ÷ ¥41.8 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 104,987,437 yen Sales or operating revenue ÷ employees  = ¥41.8 billion ÷ 398 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.59 times Sales or operating revenue ÷ total assets  = ¥41.8 billion ÷ ¥26.3 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 44.6% Net assets ÷ total assets  = ¥11.7 billion ÷ ¥26.3 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative President, Representative Director, gBizINFO
  • Consolidated subsidiaries Annual Securities Report

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets Net assets ÷ total assets
  • Return on assets (ROA) Net income ÷ total assets (consolidated)
  • Net assets per share Consolidated
  • Free cash flow Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired) 10% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion Net cash provided by (used in) operating activities ÷ operating income
  • Increase in working capital (increase in trade receivables + increase in inventories) ÷ net sales (or operating revenue)。Trade receivables up ¥0.3 billion + inventories up ¥3.0 billion, over net sales ¥41.8 billion
  • Property, plant and equipment purchases relative to depreciation Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥49.00 million, over depreciation ¥0.4 billion
  • Return to shareholders (dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥1.1 billion (no treasury stock purchase disclosed), over operating cash flow ¥0.9 billion
  • Extraordinary gains and losses relative to ordinary profit (extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥24.00 million − extraordinary loss ¥24.00 million, over ordinary income ¥3.8 billion
  • Investment securities to net assets Investment securities ÷ net assets。Investment securities ¥2.1 billion, over net assets ¥11.7 billion

Long-term changes in performance

  • Revenue Disclosed value for 2025 ÷ disclosed value for 2012

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above. Flagged 2 years: a note about a stock split or share consolidation, or a period other than 12 months. No calculation across those years, as the dividend per share may rest on a different share base.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 398 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee Net sales (or operating revenue) ÷ employees
  • Operating income per employee Operating income ÷ employees
  • Wage gap between men and women Women's pay with men's pay set to 100, reporting company
  • Women in managerial positions Reporting company (parent only)
  • Men taking childcare leave Reporting company (parent only)
  • Average length of service by gender gBizINFO, covering 正社員
  • Female managers gBizINFO: 10 women among 64 managers

Workplace information filings

  • Source: processed from Shokuba-labo, the workplace information site of the Ministry of Health, Labour and Welfare. Items the company filed only Shokuba-labo

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of Aoyama Zaisan Networks Company,Limited on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 4010401087540 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork