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エフ・コード

株式会社エフ・コード

Company highlights

The largest holder on the register is 工藤 勉, at 39.3%.

Key figures

Period Jan 2025 to Dec 2025ConsolidatedIFRS

RevenueDisclosed ¥11.9B
Operating marginCalculated 19.3%
Net assets to total assetsCalculated 25.5%

Company profile

Securities code 9211 / EDINET code E37176 / Services / Fiscal year end end of December

新宿区神楽坂一丁目１番地／Capital stock ¥1,266 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
工藤 勉 Representative
3/15/2006 Date of incorporation

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Jan 2025 to Dec 2025) · filed 2026-03-30

Profitability ★★★★★position among all companies 19.3%
Growth (revenue, 3-year average) ★★★★★position among all companies 123.3%
Capital efficiency ★★★★★position among all companies 20.4%

Business activities and revenue composition

Revenue and profit by business segment

Disclosed segments (business divisions used in reporting): one

Revenue and profit

Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Selling general and administrative expenses IFRS ¥5.3 billion Consolidated
Business consignment expenses ¥2.6 billion Consolidated
Employee benefit expenses sgaifrs ¥0.7 billion Consolidated
Other ¥0.6 billion Consolidated
Commission fees ¥0.4 billion Consolidated
Directors' compensations ¥0.3 billion Consolidated
Depreciation and amortization ¥0.2 billion Consolidated
Salaries and allowances ¥0.1 billion Parent only
Sales commission ¥15.08 million Parent only
Depreciation ¥5.78 million Parent only
Profit by stage Operating income ¥2.3 billion Consolidated
Net income ¥1.5 billion Consolidated
Gross profit (loss) ¥0.7 billion Parent only
Ordinary income ¥0.5 billion Parent only

エフ・コード

Selling, general and administrative expenses

Period Jan 2025 to Dec 2025Source Annual securities reports

Selling general and administrative expenses IFRS ¥5.3 billion (52.7%)53%Business consignment expenses ¥2.6 billion (26.4%)26%Employee benefit expenses sgaifrs ¥0.7 billion (7.5%)8%Other ¥0.6 billion (6.1%)6%Commission fees ¥0.4 billion (4.1%)Directors' compensations ¥0.3 billion (3.1%)¥10.0B
  • Selling general and administrative expenses IFRS　¥5.3 billion
  • Business consignment expenses　¥2.6 billion
  • Employee benefit expenses sgaifrs　¥0.7 billion
  • Other　¥0.6 billion
  • Commission fees　¥0.4 billion
  • Directors' compensations　¥0.3 billion

Performance, financial position and capital allocation

Finance
25.5% Net assets to total assets Industry median 55.2% FY ending 12/2025 · consolidated / calculated
5.5% Return on assets (ROA)
¥425.6 Net assets per share
¥-2.3 billion Free cash flow
¥26.5 billion Total assets
¥12.1 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
50.7% Cash conversion Industry median 106.7% FY ending 12/2025 · consolidated / calculated
6.2% Property, plant and equipment purchases relative to depreciation ★☆☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated

Recent performance trends

Year-on-year comparison

Period 2022 to 2025Disclosed

Item2022202320242025
Revenue (IFRS) ¥1.1B ¥2.5B ¥5.1B ¥11.9B
Year on year (%) Could not be retrieved +131.5%◆ +106.7%◆ +132.7%◆
Profit (loss) before tax (IFRS) ¥0.1B Could not be retrieved ¥1.2B ¥2.1B
Change from prior year Could not be retrieved comparison basis not confirmed comparison basis not confirmed +72.5%
Profit (loss) before tax (IFRS) as a share of Revenue (IFRS) 11.6% Could not be retrieved 23.8% 17.6%
Change (percentage points) Could not be retrieved comparison basis not confirmed comparison basis not confirmed -6.1 points◆

Fiscal periods marked for changes

  • 2023Revenue (IFRS) year on year +131.5%
  • 2024Revenue (IFRS) year on year +106.7%
  • 2025Revenue (IFRS) year on year +132.7%, Profit (loss) before tax (IFRS) as a share of revenue -6.1 points

エフ・コード

Earnings and net assets per share over time

Unit yenSource Annual securities reports

118 79 39 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 618 412 206 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen
Consolidated indicators (31 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Revenue (IFRS) Could not be retrieved ¥1.1 billion ¥2.5 billion ¥5.1 billion ¥11.9 billion
Profit (loss) before tax (IFRS) Could not be retrieved ¥0.1 billion ¥0.6 billion ¥1.2 billion ¥2.1 billion
Profit (loss) attributable to owners of parent (IFRS) Could not be retrieved ¥69.35 million ¥0.5 billion ¥0.8 billion ¥1.5 billion
Profit (loss) (IFRS) Could not be retrieved ¥69.35 million ¥0.5 billion ¥0.9 billion ¥1.5 billion
Comprehensive income attributable to owners of parent (IFRS) Could not be retrieved ¥69.35 million ¥0.5 billion ¥0.8 billion ¥1.5 billion
Comprehensive income (IFRS) Could not be retrieved ¥69.35 million ¥0.5 billion ¥0.9 billion ¥1.5 billion
Equity attributable to owners of parent (IFRS) ¥0.5 billion ¥0.7 billion ¥3.2 billion ¥6.7 billion ¥7.5 billion
Total assets (IFRS) ¥1.0 billion ¥3.2 billion ¥11.0 billion ¥21.7 billion ¥26.5 billion
Equity attributable to owners of parent per share (IFRS) 58.23 yen 83.17 yen 302.21 yen 543.26 yen 617.86 yen
Basic earnings (loss) per share (IFRS) Could not be retrieved 8.37 yen 46.47 yen 72.11 yen 118.47 yen
Diluted earnings (loss) per share (IFRS) Could not be retrieved 7.76 yen 44.44 yen 67.27 yen 112.49 yen
Ratio of equity attributable to owners of parent (IFRS) 47.9% 21.3% 29.0% 30.7% 28.5%
Return on equity attributable to owners of parent (IFRS) Could not be retrieved 11.9% 24.8% 17.0% 20.4%
Net cash provided by (used in) operating activities (IFRS) Could not be retrieved ¥0.1 billion ¥0.9 billion ¥0.9 billion ¥1.2 billion
Net cash provided by (used in) investing activities (IFRS) Could not be retrieved ¥-1.4 billion ¥-3.4 billion ¥-3.1 billion ¥-3.5 billion
Net cash provided by (used in) financing activities (IFRS) Could not be retrieved ¥1.7 billion ¥5.6 billion ¥4.4 billion ¥4.1 billion
Cash and cash equivalents (IFRS) ¥0.6 billion ¥1.0 billion ¥4.0 billion ¥6.2 billion ¥8.1 billion
Net sales Could not be retrieved Could not be retrieved ¥2.5 billion Could not be retrieved Could not be retrieved
Ordinary income (loss) Could not be retrieved Could not be retrieved ¥0.4 billion Could not be retrieved Could not be retrieved
Net income (loss) attributable to owners of parent Could not be retrieved Could not be retrieved ¥0.2 billion Could not be retrieved Could not be retrieved
Comprehensive income Could not be retrieved Could not be retrieved ¥0.2 billion Could not be retrieved Could not be retrieved
Net assets Could not be retrieved Could not be retrieved ¥3.1 billion Could not be retrieved Could not be retrieved
Total assets Could not be retrieved Could not be retrieved ¥9.4 billion Could not be retrieved Could not be retrieved
Net assets per share Could not be retrieved Could not be retrieved 568.64 yen Could not be retrieved Could not be retrieved
Basic earnings (loss) per share Could not be retrieved Could not be retrieved 47.39 yen Could not be retrieved Could not be retrieved
Diluted earnings per share Could not be retrieved Could not be retrieved 45.29 yen Could not be retrieved Could not be retrieved
Equity-to-asset ratio Could not be retrieved Could not be retrieved 31.9% Could not be retrieved Could not be retrieved
Net cash provided by (used in) operating activities Could not be retrieved Could not be retrieved ¥0.8 billion Could not be retrieved Could not be retrieved
Net cash provided by (used in) investing activities Could not be retrieved Could not be retrieved ¥-3.3 billion Could not be retrieved Could not be retrieved
Net cash provided by (used in) financing activities Could not be retrieved Could not be retrieved ¥5.6 billion Could not be retrieved Could not be retrieved
Cash and cash equivalents Could not be retrieved Could not be retrieved ¥4.0 billion Could not be retrieved Could not be retrieved
Parent only indicators (16 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥0.7 billion ¥1.1 billion ¥1.5 billion ¥2.0 billion ¥1.3 billion
Ordinary income (loss) ¥0.1 billion ¥0.2 billion ¥0.3 billion ¥0.5 billion ¥0.5 billion
Net income (loss) ¥0.2 billion ¥0.2 billion ¥0.2 billion ¥0.2 billion ¥-0.3 billion
Capital stock ¥0.2 billion ¥0.3 billion ¥15.97 million ¥27.91 million ¥57.52 million
Total number of issued shares (common stock) 8,196,400 shares 8,292,000 shares 10,546,600 shares 12,260,600 shares 12,409,400 shares
Net assets ¥0.5 billion ¥0.7 billion ¥3.0 billion ¥5.8 billion ¥5.2 billion
Total assets ¥0.8 billion ¥2.9 billion ¥8.8 billion ¥13.8 billion ¥18.2 billion
Net assets per share 60.01 yen 87.28 yen 284.59 yen 469.59 yen 425.6 yen
Basic earnings (loss) per share 19.64 yen 22.7 yen 23.97 yen 21.17 yen -21.6 yen
Diluted earnings per share 17.99 yen 21.03 yen 22.92 yen 19.54 yen Could not be retrieved
Equity-to-asset ratio 58.3% 25.3% 33.9% 41.7% 28.5%
Return on equity 55.5% 30.9% 13.3% 5.6% Could not be retrieved
Net cash provided by (used in) operating activities ¥0.1 billion ¥58.38 million Could not be retrieved Could not be retrieved Could not be retrieved
Net cash provided by (used in) investing activities ¥-16.47 million ¥-1.4 billion Could not be retrieved Could not be retrieved Could not be retrieved
Net cash provided by (used in) financing activities ¥0.2 billion ¥1.8 billion Could not be retrieved Could not be retrieved Could not be retrieved
Cash and cash equivalents ¥0.6 billion ¥1.0 billion Could not be retrieved Could not be retrieved Could not be retrieved

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

4,669 Shareholders
8.80% Foreign holders (total) Industry median 3.64%
70.80% Individuals and others Industry median 52.53%

エフ・コード

Unit %Source Annual securities reports

  • Financial institutions4.90%
  • Securities firms8.00%
  • Other corporations7.50%
  • Foreign holders (institutions)8.70%
  • Foreign holders (individuals)0.10%
  • Individuals and others70.80%

Major shareholders

RankShareholderShareholding ratioShares held
1 工藤 勉 39.26% 4,792,600
2 株式会社ＳＢＩ証券 4.26% 520,300
3 梅澤 康二 3.68% 448,800
4 株式会社マイナビ 3.3% 403,200
5 株式会社日本カストディ銀行（信託口） 3.18% 388,700
6 株式会社リヴァンプ 3.12% 380,400
7 ＢＮＹ ＧＣＭ ＣＬＩＥＮＴ ＡＣＣＯＵＮＴ ＪＰＲＤ ＡＣ ＩＳＧ （ＦＥ－ＡＣ）ＰＥＴＥＲＢＯＲＯＵＧＨ ＣＯＵＲＴ １３３ ＦＬＥＥＴ ＳＴＲＥＥＴ ＬＯＮＤＯＮ ＥＣ４Ａ ２ＢＢ ＵＮＩＴＥＤ ＫＩＮＧＤＯＭ 2.87% 350,501
8 荒井 裕希 2.53% 309,000
9 楽天証券株式会社共有口 2.19% 267,200
10 ＢＢＨ ＣＯ ＦＯＲ ＡＲＣＵＳ ＪＡＰＡＮ ＶＡＬＵＥ ＦＵＮＤＰＯ ＢＯＸ １０９３， ＱＵＥＥＮＳＧＡＴＥ ＨＯＵＳＥ， ＳＯＵＴＨ ＣＨＵＲＣＨ ＳＴＲＥＥＴ ＧＥＯＲＧＥ ＴＯＷＮ ＣＡＹＭＡＮ ＩＳＬＡＮＤＳ ＫＹ１－１１０２ 1.83% 224,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 1 years (FY 2025)Disclosed

Not disclosed Research and development
¥0.2 billion Capital expenditure 2.0% of revenue (industry median 2.3%)

Revenue scale in the same industry

エフ・コード

Source Annual securities reports of each company

Services: 671 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

Workforce information

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

44 Employees (parent only) Industry median 130
35.8 Average age Industry median 38.8
2.6 years Average length of service Industry median 6.6 years
¥5.51 million Average annual salary Industry median ¥5.89 million
People and organisation
24.4¥ million Sales per employee Industry median 24.2¥ million FY ending 12/2025 · consolidated / calculated
¥4.72 million Operating income per employee
411 Average temporary staff

Audit and disclosure information

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

ItemValue
Audit firm 監査法人ＦＲＩＱ
Audit fees (this year, total) ¥30.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Cannot be determined
Accounting standard IFRS

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) (27 items)

ItemValueConsolidated / Non-consolidated
Net cash provided by (used in) operating activities (IFRS) ¥1.2 billion Consolidated
Basic earnings (loss) per share (IFRS) 118.47 yen Consolidated
Revenue (IFRS) ¥11.9 billion Consolidated
Diluted earnings (loss) per share (IFRS) 112.49 yen Consolidated
Profit (loss) (IFRS) ¥1.5 billion Consolidated
Profit (loss) attributable to owners of parent (IFRS) ¥1.5 billion Consolidated
Comprehensive income (IFRS) ¥1.5 billion Consolidated
Comprehensive income attributable to owners of parent (IFRS) ¥1.5 billion Consolidated
Net cash provided by (used in) investing activities (IFRS) ¥-3.5 billion Consolidated
Cash and cash equivalents (IFRS) ¥8.1 billion Consolidated
Profit (loss) before tax (IFRS) ¥2.1 billion Consolidated
Total assets (IFRS) ¥26.5 billion Consolidated
Equity attributable to owners of parent (IFRS) ¥7.5 billion Consolidated
Return on equity attributable to owners of parent (IFRS) 20.4% Consolidated
Ratio of equity attributable to owners of parent (IFRS) 28.5% Consolidated
Net cash provided by (used in) financing activities (IFRS) ¥4.1 billion Consolidated
Equity attributable to owners of parent per share (IFRS) 617.86 yen Consolidated
Net sales ¥1.3 billion Parent only
Net income (loss) ¥-0.3 billion Parent only
Total number of issued shares (common stock) 12,409,400 shares Parent only
Net assets ¥5.2 billion Parent only
Ordinary income (loss) ¥0.5 billion Parent only
Total assets ¥18.2 billion Parent only
Equity-to-asset ratio 28.5% Parent only
Capital stock ¥57.52 million Parent only
Basic earnings (loss) per share -21.6 yen Parent only
Net assets per share 425.6 yen Parent only

Employees (7 items)

ItemValueConsolidated / Non-consolidated
Number of employees 489 people Consolidated
Number of employees 489 people Consolidated
Average length of service (years) 2.6 years Parent only
Average annual salary ¥5.51 million Parent only
Average age (years) 35.8 years old Parent only
Number of employees 44 people Parent only
Number of employees 44 people Parent only

Other disclosed items (5 items)

ItemValueConsolidated / Non-consolidated
Average number of temporary employees 411 people Consolidated
Average number of temporary employees 411 people Consolidated
Average number of temporary employees 32 people Parent only
Average number of temporary employees 32 people Parent only
Total return on the share price index 189.1% Parent only

Shares (8 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 8,084,701 shares Consolidated
Total number of shares held treasury shares etc 200,600 shares Consolidated
Number of shares 12,409,400 shares Consolidated
Shareholding ratio treasury shares etc 1.6% Consolidated
Shareholding ratio 66.2% Consolidated
Number of shares held in own name treasury shares etc 200,600 shares Consolidated
Number of voting rights 122,015 units Consolidated
Total shareholder return 68.3% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥0.2 billion Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥30.00 million Consolidated
Fees for audit and attestation services - total ¥30.00 million Consolidated

Balance sheet (120 items)

ItemValueConsolidated / Non-consolidated
Other current liabilities clifrs ¥1.7 billion Consolidated
Other current assets caifrs ¥1.1 billion Consolidated
Other financial liabilities ¥0.6 billion Consolidated
Other financial liabilities ¥2.6 billion Consolidated
Other financial assets ¥0.1 billion Consolidated
Other financial assets ¥0.9 billion Consolidated
Other non current assets ncaifrs ¥8.98 million Consolidated
Goodwill ¥14.7 billion Consolidated
Goodwill ¥-2.6 billion Consolidated
Goodwill IFRS ¥12.1 billion Consolidated
Goodwill IFRS ¥12.1 billion Consolidated
Software ¥-66.93 million Consolidated
Software ¥0.2 billion Consolidated
Software IFRS ¥0.2 billion Consolidated
Lease obligations ¥0.1 billion Consolidated
Lease obligations ¥0.3 billion Consolidated
Right-of-use assets, Acquisition cost (IFRS) ¥0.6 billion Consolidated
Right-of-use assets, Accumulated depreciation and impairment losses (IFRS) ¥-0.2 billion Consolidated
Right of use assets IFRS ¥0.4 billion Consolidated
Retained earnings IFRS ¥2.6 billion Consolidated
Trade and other payables clifrs ¥0.8 billion Consolidated
Trade and other receivables caifrs ¥2.2 billion Consolidated
Contract liabilities ¥0.6 billion Consolidated
Tools, furniture and fixtures ¥98.38 million Consolidated
Tools, furniture and fixtures ¥-65.56 million Consolidated
Tools, furniture and fixtures ¥32.82 million Consolidated
Buildings and structures ¥68.78 million Consolidated
Buildings and structures ¥-21.64 million Consolidated
Buildings and structures IFRS ¥47.14 million Consolidated
Provisions nclifrs ¥21.10 million Consolidated
Property, plant and equipment ¥0.8 billion Consolidated
Property, plant and equipment ¥-0.3 billion Consolidated
Property plant and equipment IFRS ¥0.5 billion Consolidated
Property plant and equipment IFRS ¥0.5 billion Consolidated
Income taxes payable ¥0.3 billion Consolidated
Machinery, equipment and vehicles ¥1.03 million Consolidated
Machinery, equipment and vehicles ¥-0.83 million Consolidated
Machinery and vehicles IFRS ¥0.20 million Consolidated
Total current liabilities IFRS ¥7.8 billion Consolidated
Current assets IFRS ¥11.5 billion Consolidated
Intangible assets accumulated amortization and impairment losses IFRS ¥-0.3 billion Consolidated
Intangible assets acquisition cost IFRS ¥0.5 billion Consolidated
Intangible assets IFRS ¥0.2 billion Consolidated
Intangible assets IFRS ¥0.2 billion Consolidated
Cash and cash equivalents (IFRS) ¥8.1 billion Consolidated
Cash and cash equivalents (IFRS) ¥8.1 billion Consolidated
Bonds and borrowings clifrs ¥3.4 billion Consolidated
Bonds and borrowings nclifrs ¥9.0 billion Consolidated
Net assets ¥6.7 billion Consolidated
Net assets ¥6.7 billion Consolidated
Total assets ¥26.5 billion Consolidated
Deferred tax liabilities IFRS ¥14.90 million Consolidated
Deferred tax assets IFRS ¥1.3 billion Consolidated
Treasury shares IFRS ¥-0.4 billion Consolidated
Equity attributable to owners of parent (IFRS) ¥7.5 billion Consolidated
Liabilities and equity IFRS ¥26.5 billion Consolidated
Liabilities IFRS ¥19.7 billion Consolidated
Capital surplus IFRS ¥5.2 billion Consolidated
Share capital IFRS ¥57.52 million Consolidated
Non controlling interests IFRS ¥-0.8 billion Consolidated
Non current labilities IFRS ¥11.9 billion Consolidated
Non current assets IFRS ¥15.0 billion Consolidated
Customer relationship ¥-0.2 billion Consolidated
Customer relationship ¥0.2 billion Consolidated
Customer related assets IFRS ¥22.50 million Consolidated
Other ¥0.1 billion Parent only
Other ¥21.86 million Parent only
Other ¥15.75 million Parent only
Other capital surplus ¥5.2 billion Parent only
Goodwill ¥0.9 billion Parent only
Software ¥81.01 million Parent only
Software in progress ¥59.19 million Parent only
Work in process ¥0.02 million Parent only
Retained earnings ¥0.3 billion Parent only
Prepaid expenses ¥57.00 million Parent only
Non-current liabilities ¥8.5 billion Parent only
Non-current assets ¥11.9 billion Parent only
Accounts receivable - trade ¥0.5 billion Parent only
Contract liabilities ¥12.15 million Parent only
Tools, furniture and fixtures ¥12.74 million Parent only
Buildings, net ¥7.42 million Parent only
Investments and other assets ¥10.8 billion Parent only
Lease and guarantee deposits ¥41.00 million Parent only
Subscription rights to shares ¥3.17 million Parent only
Property, plant and equipment ¥20.17 million Parent only
Accounts receivable - other ¥0.4 billion Parent only
Income taxes payable ¥70.31 million Parent only
Accrued expenses ¥87.69 million Parent only
Accounts payable - other ¥52.98 million Parent only
Shareholders' equity ¥5.2 billion Parent only
Current liabilities ¥4.5 billion Parent only
Current assets ¥6.3 billion Parent only
Accumulated depreciation ¥-17.50 million Parent only
Accumulated depreciation ¥-9.74 million Parent only
Intangible assets ¥1.1 billion Parent only
Cash and deposits ¥5.2 billion Parent only
Short-term loans payable ¥0.7 billion Parent only
Claims provable in bankruptcy claims provable in rehabilitation and other ¥2.27 million Parent only
Bonds payable ¥0.3 billion Parent only
Net assets ¥5.2 billion Parent only
Net assets ¥5.2 billion Parent only
Total assets ¥18.2 billion Parent only
Deferred tax assets ¥0.3 billion Parent only
Retained earnings brought forward ¥0.3 billion Parent only
Treasury stock ¥-0.4 billion Parent only
Liabilities ¥13.0 billion Parent only
Liabilities and net assets ¥18.2 billion Parent only
Accounts payable - trade ¥0.4 billion Parent only
Allowance for doubtful accounts ¥-2.27 million Parent only
Allowance for doubtful accounts ¥-0.90 million Parent only
Capital surplus ¥5.2 billion Parent only
Legal capital surplus ¥47.52 million Parent only
Capital stock ¥57.52 million Parent only
Long-term loans payable ¥8.1 billion Parent only
Long-term loans receivable ¥96.67 million Parent only
Shares of subsidiaries and associates ¥10.2 billion Parent only
Loans receivable to subsidiaries and affiliates ¥0.1 billion Parent only
Deposits received ¥10.99 million Parent only
Current portion of bonds payable ¥0.1 billion Parent only
Current portion of long-term loans payable ¥3.1 billion Parent only

Accounts unique to this company (9 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥0.3 billion Consolidated
Revenue ¥0.1 billion Consolidated
Revenue ¥-3.0 billion Consolidated
Revenue ¥0.2 billion Consolidated
Revenue ¥11.92 million Consolidated
Revenue ¥83.57 million Consolidated
Revenue ¥28.72 million Consolidated
Revenue ¥0.1 billion Parent only
Revenue ¥1.67 million Parent only

Statement of income (94 items)

ItemValueConsolidated / Non-consolidated
Other ¥48.48 million Consolidated
Other ¥85.83 million Consolidated
Other ¥46.22 million Consolidated
Other ¥0.6 billion Consolidated
Other ¥41.47 million Consolidated
Other income IFRS ¥3.0 billion Consolidated
Other income IFRS ¥3.0 billion Consolidated
Other expenses IFRS ¥2.5 billion Consolidated
Other expenses IFRS ¥2.5 billion Consolidated
Lease obligations ¥4.60 million Consolidated
Change by business combination ¥0.2 billion Consolidated
Financial assets measured at amortized cost ¥11.42 million Consolidated
Operating income ¥2.3 billion Consolidated
Net cash provided by (used in) operating activities ¥1.2 billion Consolidated
Loss on retirement of fixed assets IFRS ¥1.80 million Consolidated
Basic earnings loss per share IFRS 118.47 yen Consolidated
Cost of sales IFRS ¥4.8 billion Consolidated
Gross profit IFRS ¥7.1 billion Consolidated
Net sales ¥11.9 billion Consolidated
Diluted earnings loss per share IFRS 112.49 yen Consolidated
Advertising and sales promotion expenses IFRS ¥0.3 billion Consolidated
Profit loss IFRS ¥1.5 billion Consolidated
Profit loss IFRS ¥1.5 billion Consolidated
Profit loss IFRS ¥1.5 billion Consolidated
Profit loss IFRS ¥1.5 billion Consolidated
Comprehensive income (IFRS) ¥1.5 billion Consolidated
Comprehensive income (IFRS) ¥1.5 billion Consolidated
Comprehensive income (IFRS) ¥1.5 billion Consolidated
Net income ¥1.5 billion Consolidated
Directors' compensations ¥0.3 billion Consolidated
Employee benefit expenses sgaifrs ¥0.7 billion Consolidated
Total transactions with owners IFRS ¥-0.8 billion Consolidated
Net cash provided by (used in) investing activities (IFRS) ¥-3.5 billion Consolidated
Commission fees ¥30.37 million Consolidated
Commission fees ¥0.4 billion Consolidated
Change in interests in subsidiaries ¥-0.8 billion Consolidated
Issuance of share acquisition rights ssifrs ¥2.93 million Consolidated
Exercise of share acquisition rights ssifrs ¥54.18 million Consolidated
Interest bearing liabilities interest expenses IFRS ¥0.2 billion Consolidated
Change in fair value of contingent considerations income IFRS ¥2.9 billion Consolidated
Business consignment expenses ¥2.6 billion Consolidated
Income tax expense IFRS ¥0.6 billion Consolidated
Depreciation and amortization ¥0.2 billion Consolidated
Impairment loss ¥2.3 billion Consolidated
Foreign exchange gain IFRS ¥1.07 million Consolidated
Net increase decrease in cash and cash equivalents IFRS ¥1.8 billion Consolidated
Effect of exchange rate changes on cash and cash equivalents IFRS ¥1.05 million Consolidated
Profit loss before tax IFRS ¥2.1 billion Consolidated
Profit loss before tax IFRS ¥2.1 billion Consolidated
Purchase of treasury stock ¥-0.4 billion Consolidated
Comprehensive income attributable to owners of parent IFRS ¥1.5 billion Consolidated
Net cash provided by (used in) financing activities (IFRS) ¥4.1 billion Consolidated
Selling general and administrative expenses IFRS ¥5.3 billion Consolidated
Selling general and administrative expenses IFRS ¥5.3 billion Consolidated
Finance income IFRS ¥42.16 million Consolidated
Finance income IFRS ¥42.16 million Consolidated
Finance costs IFRS ¥0.2 billion Consolidated
Finance costs IFRS ¥0.2 billion Consolidated
Profit loss attributable to non controlling interests IFRS ¥53.83 million Consolidated
Comprehensive income attributable to non controlling interests IFRS ¥53.83 million Consolidated
Other ¥9.75 million Parent only
Other ¥0.24 million Parent only
Interest income ¥12.24 million Parent only
Dividend income ¥1,000 Parent only
Operating income ¥-0.2 billion Parent only
Non-operating income ¥0.9 billion Parent only
Non-operating expenses ¥0.2 billion Parent only
Cost of sales ¥0.6 billion Parent only
Gross profit (loss) ¥0.7 billion Parent only
Net sales ¥1.3 billion Parent only
Net income (loss) ¥-0.3 billion Parent only
Net income (loss) ¥-0.3 billion Parent only
Directors' compensations ¥83.81 million Parent only
Interest expenses ¥0.1 billion Parent only
Commission fees ¥30.77 million Parent only
Issuance of new shares ¥59.22 million Parent only
Purchase of share acquisition rights ¥2.93 million Parent only
Business consignment expenses ¥0.3 billion Parent only
Income taxes - current ¥0.1 billion Parent only
Income taxes ¥0.2 billion Parent only
Income taxes - deferred ¥0.1 billion Parent only
Depreciation ¥5.78 million Parent only
Foreign exchange gains ¥1.07 million Parent only
Extraordinary loss ¥0.5 billion Parent only
Bond issuance cost ¥11.15 million Parent only
Income (loss) before income taxes ¥-34.93 million Parent only
Consulting fee income ¥0.9 billion Parent only
Ordinary income ¥0.5 billion Parent only
Salaries and allowances ¥0.1 billion Parent only
Purchase of treasury stock ¥-0.4 billion Parent only
Sales commission ¥15.08 million Parent only
Selling, general and administrative expenses ¥0.9 billion Parent only
Reversal of allowance for doubtful accounts ¥1.62 million Parent only
Loss on valuation of shares of subsidiaries and associates ¥0.5 billion Parent only

Statement of cash flows (24 items)

ItemValueConsolidated / Non-consolidated
Other ¥-0.2 billion Consolidated
Other ¥-77.07 million Consolidated
Other ¥0.8 billion Consolidated
Repayments of lease obligations ¥-0.1 billion Consolidated
Interest paid ope cfifrs ¥-0.1 billion Consolidated
Interest and dividends received ope cfifrs ¥11.42 million Consolidated
Increase (decrease) in trade and other payables ¥-0.7 billion Consolidated
Decrease (increase) in trade and other receivables ¥-0.7 billion Consolidated
Payments for acquisition of subsidiaries inv cfifrs ¥-3.1 billion Consolidated
Subtotal ¥1.6 billion Consolidated
Purchase of investments inv cfifrs ¥-49.98 million Consolidated
Proceeds from issuance of subscription rights to share ¥59.22 million Consolidated
Purchase of property plant and equipment inv cfifrs ¥-13.14 million Consolidated
Income taxes paid ope cfifrs ¥-0.3 billion Consolidated
Depreciation and amortization ¥0.2 billion Consolidated
Impairment losses reversal of impairment losses ope cfifrs ¥2.3 billion Consolidated
Purchase of intangible assets inv cfifrs ¥-75.40 million Consolidated
Decrease/increase in short-term loans payable ¥0.2 billion Consolidated
Redemption of bonds and repayments of long term borrowings fin cfifrs ¥-2.1 billion Consolidated
Proceeds from issuance of bonds and long term borrowings fin cfifrs ¥7.3 billion Consolidated
Regarding purchase of treasury stock ¥-0.4 billion Consolidated
Financial revenue ¥-42.16 million Consolidated
Financial expenses ¥0.2 billion Consolidated
Payments for acquisition of interests in subsidiaries from non-controlling interests ¥-0.8 billion Consolidated

Statement of changes in equity (1 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥-0.6 billion Parent only
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥1.2 billion ConsolidatedDisclosed
Number of employees 489 ConsolidatedDisclosed
Net assets ¥6.7 billion ConsolidatedDisclosed
Net sales ¥11.9 billion ConsolidatedDisclosed
Operating income ¥2.3 billion ConsolidatedDisclosed
Ordinary income ¥0.5 billion Parent onlyDisclosed
Net income ¥1.5 billion ConsolidatedDisclosed
Total assets ¥26.5 billion ConsolidatedDisclosed
Operating margin 19.3%ConsolidatedCalculated
Net margin 12.1%ConsolidatedCalculated
Sales per employee 24413061 yenConsolidatedCalculated
Total asset turnover 0.45 timesConsolidatedCalculated
Net assets to total assets 25.5%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 19.3%　Operating income ÷ net sales 　＝ ¥2.3 billion ÷ ¥11.9 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, IFRS).
  • Net margin 12.1%　Net income ÷ net sales 　＝ ¥1.5 billion ÷ ¥11.9 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, IFRS).
  • Sales per employee 24,413,061 yen　Sales or operating revenue ÷ employees 　＝ ¥11.9 billion ÷ 489 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 0.45 times　Sales or operating revenue ÷ total assets 　＝ ¥11.9 billion ÷ ¥26.5 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, IFRS).
  • Net assets to total assets 25.5%　Net assets ÷ total assets 　＝ ¥6.7 billion ÷ ¥26.5 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, IFRS).

Company details

  • Representative　President, Representative Director, gBizINFO
  • Date of incorporation　gBizINFO · 20 years since incorporation

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　Parent only
  • 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)　180% 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
  • Property, plant and equipment purchases relative to depreciation　Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥13.14 million, over depreciation ¥0.2 billion

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

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 Services 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 Services 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: 489 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Services 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
  • Average temporary staff　Consolidated, average headcount other than regular employees

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 株式会社エフ・コード on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 7011101050802 / Accounting standard: IFRS

  • 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