Financials

GMO Payment Gateway: FYE Sep 2025 and ten years of results (47 metrics)

FYE Sep 2025 · Revenue¥82bnYoY +11.8%

FYE Sep 2025 · Operating profit¥31bnYoY +24.4%

FYE Sep 2025 · Net profit¥22bnYoY +16.7%

FYE Sep 2025 · Equity ratio27.0%YoY −2.0pp

FYE Sep 2025 · Group employees882YoY +29

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Sep 2016Consolidated	¥12bn	n/a	¥3.8bn	n/a	31.5%	¥2.9bn	Aiura Kazunari	GMO Financial Gate consolidated; MACROKIOSK (Malaysia) acquired
FYE Sep 2017Consolidated	¥22bn	+79.9%	¥5.0bn	+31.3%	23.0%	¥2.9bn	Aiura Kazunari	—
FYE Sep 2018Consolidated	¥26bn	+21.2%	¥6.6bn	+30.6%	24.8%	¥4.3bn	Aiura Kazunari	¥17bn euro-yen convertible bonds; US subsidiary opened
FYE Sep 2019Consolidated	¥27bn	+1.9%	¥9.6bn	+46.0%	35.5%	¥5.3bn	Aiura Kazunari	~¥0.9bn goodwill impairment on MACROKIOSK
FYE Sep 2020Consolidated	¥33bn	+22.7%	¥10bn	+8.6%	31.4%	¥7.6bn	Aiura Kazunari	MACROKIOSK sold; GMO Financial Gate lists on TSE Mothers
FYE Sep 2021Consolidated	¥42bn	+26.1%	¥13bn	+25.0%	31.2%	¥8.8bn	Aiura Kazunari	¥20bn euro-yen convertible bonds
FYE Sep 2022Consolidated	¥50bn	+20.7%	¥16bn	+25.1%	32.3%	¥24bn	Aiura Kazunari	Moves to TSE Prime; Ainoura becomes group EVP of GMO Internet Group
FYE Sep 2023Consolidated	¥63bn	+25.5%	¥20bn	+25.0%	32.2%	¥13bn	Aiura Kazunari	—
FYE Sep 2024Consolidated	¥74bn	+16.9%	¥25bn	+24.0%	34.1%	¥19bn	Aiura Kazunari	—
FYE Sep 2025Consolidated	¥82bn	+11.8%	¥31bn	+24.4%	38.0%	¥22bn	Aiura Kazunari	Enpay (now GMO Enpay) acquired — school fee collection

How it compares

Seven Bank¥220bnFY2025Operating margin 13.7%

GMO Payment Gateway¥82bnFY2025Operating margin 38.0%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Sep 2025 ¥82bn

CAGR · 10 yrs +23.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Sep 2016	12.1	n/a	Cons. · Japanese GAAP
FYE Sep 2017	21.8	+79.9%	Cons. · Japanese GAAP
FYE Sep 2018	26.4	moved to IFRS	Cons. · IFRS
FYE Sep 2019	26.9	+1.9%	Cons. · IFRS
FYE Sep 2020	33.0	+22.7%	Cons. · IFRS
FYE Sep 2021	41.7	+26.1%	Cons. · IFRS
FYE Sep 2022	50.3	+20.7%	Cons. · IFRS
FYE Sep 2023	63.1	+25.5%	Cons. · IFRS
FYE Sep 2024	73.8	+16.9%	Cons. · IFRS
FYE Sep 2025	82.5	+11.8%	Cons. · IFRS

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Sep 2025 ¥27bn

CAGR · 10 yrs +28.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Sep 2016	2.8	n/a	Cons. · Japanese GAAP
FYE Sep 2017	6.7	+141.5%	Cons. · Japanese GAAP
FYE Sep 2018	9.1	moved to IFRS	Cons. · IFRS
FYE Sep 2019	7.7	−15.7%	Cons. · IFRS
FYE Sep 2020	9.2	+20.2%	Cons. · IFRS
FYE Sep 2021	13.6	+47.5%	Cons. · IFRS
FYE Sep 2022	16.7	+22.8%	Cons. · IFRS
FYE Sep 2023	23.1	+38.8%	Cons. · IFRS
FYE Sep 2024	25.7	+11.0%	Cons. · IFRS
FYE Sep 2025	27.0	+5.1%	Cons. · IFRS

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Sep 2025 ¥55bn

CAGR · 10 yrs +21.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Sep 2016	9.3	n/a	Cons. · Japanese GAAP
FYE Sep 2017	15.1	+61.7%	Cons. · Japanese GAAP
FYE Sep 2018	17.3	moved to IFRS	Cons. · IFRS
FYE Sep 2019	19.3	+11.2%	Cons. · IFRS
FYE Sep 2020	23.8	+23.7%	Cons. · IFRS
FYE Sep 2021	28.1	+17.8%	Cons. · IFRS
FYE Sep 2022	33.6	+19.7%	Cons. · IFRS
FYE Sep 2023	40.0	+18.9%	Cons. · IFRS
FYE Sep 2024	48.1	+20.3%	Cons. · IFRS
FYE Sep 2025	55.5	+15.4%	Cons. · IFRS

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Sep 2025 ¥24bn

CAGR · 10 yrs +18.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Sep 2016	5.5	n/a	Cons. · Japanese GAAP
FYE Sep 2017	10.1	+82.7%	Cons. · Japanese GAAP
FYE Sep 2018	10.5	moved to IFRS	Cons. · IFRS
FYE Sep 2019	9.8	−6.7%	Cons. · IFRS
FYE Sep 2020	13.4	+37.5%	Cons. · IFRS
FYE Sep 2021	15.0	+12.0%	Cons. · IFRS
FYE Sep 2022	17.6	+17.1%	Cons. · IFRS
FYE Sep 2023	19.9	+13.0%	Cons. · IFRS
FYE Sep 2024	23.2	+16.8%	Cons. · IFRS
FYE Sep 2025	24.4	+5.1%	Cons. · IFRS

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Sep 2025 ¥31bn

CAGR · 10 yrs +26.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Sep 2016	3.8	n/a	Cons. · Japanese GAAP
FYE Sep 2017	5.0	+31.3%	Cons. · Japanese GAAP
FYE Sep 2018	6.6	moved to IFRS	Cons. · IFRS
FYE Sep 2019	9.6	+46.0%	Cons. · IFRS
FYE Sep 2020	10.4	+8.6%	Cons. · IFRS
FYE Sep 2021	13.0	+25.0%	Cons. · IFRS
FYE Sep 2022	16.2	+25.1%	Cons. · IFRS
FYE Sep 2023	20.3	+25.0%	Cons. · IFRS
FYE Sep 2024	25.2	+24.0%	Cons. · IFRS
FYE Sep 2025	31.3	+24.4%	Cons. · IFRS

Definition: What the core business earns
Formula: Gross profit − SG&A
Source: Securities report (XBRL)

Non-operating income

FYE Sep 2025 ¥0.8bn

CAGR · 10 yrs +30.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Sep 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Sep 2017	0.1	+47.3%	Cons. · Japanese GAAP
FYE Sep 2018	0.4	moved to IFRS	Cons. · IFRS
FYE Sep 2019	0.0	−89.6%	Cons. · IFRS
FYE Sep 2020	0.3	+681.4%	Cons. · IFRS
FYE Sep 2021	0.5	+43.9%	Cons. · IFRS
FYE Sep 2022	1.6	+234.8%	Cons. · IFRS
FYE Sep 2023	1.0	−37.0%	Cons. · IFRS
FYE Sep 2024	1.1	+10.3%	Cons. · IFRS
FYE Sep 2025	0.8	−26.5%	Cons. · IFRS

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Sep 2025 ¥657m

CAGR · 10 yrs +21.5%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Sep 2016	114	n/a	Cons. · Japanese GAAP
FYE Sep 2017	386	+239.6%	Cons. · Japanese GAAP
FYE Sep 2018	63.4	moved to IFRS	Cons. · IFRS
FYE Sep 2019	289	+356.8%	Cons. · IFRS
FYE Sep 2020	253	−12.6%	Cons. · IFRS
FYE Sep 2021	203	−19.8%	Cons. · IFRS
FYE Sep 2022	231	+13.6%	Cons. · IFRS
FYE Sep 2023	805	+249.1%	Cons. · IFRS
FYE Sep 2024	620	−22.9%	Cons. · IFRS
FYE Sep 2025	657	+5.9%	Cons. · IFRS

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Sep 2025 ¥22bn

CAGR · 10 yrs +25.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Sep 2016	2.9	n/a	Cons. · Japanese GAAP
FYE Sep 2017	2.9	+1.3%	Cons. · Japanese GAAP
FYE Sep 2018	4.3	moved to IFRS	Cons. · IFRS
FYE Sep 2019	5.3	+22.1%	Cons. · IFRS
FYE Sep 2020	7.6	+44.7%	Cons. · IFRS
FYE Sep 2021	8.8	+15.7%	Cons. · IFRS
FYE Sep 2022	24.2	+173.9%	Cons. · IFRS
FYE Sep 2023	13.5	−44.2%	Cons. · IFRS
FYE Sep 2024	18.7	+38.8%	Cons. · IFRS
FYE Sep 2025	21.8	+16.7%	Cons. · IFRS

Definition: What is left after tax
Formula: Pre-tax profit − income taxes
Source: Securities report (XBRL)

Gross margin

FYE Sep 2025 67.3%

Average · 10 yrs 68.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Sep 2016	77.1	n/a	Cons. · Japanese GAAP
FYE Sep 2017	69.3	−7.8pp	Cons. · Japanese GAAP
FYE Sep 2018	65.6	moved to IFRS	Cons. · IFRS
FYE Sep 2019	71.6	+5.9pp	Cons. · IFRS
FYE Sep 2020	72.2	+0.6pp	Cons. · IFRS
FYE Sep 2021	67.4	−4.7pp	Cons. · IFRS
FYE Sep 2022	66.9	−0.6pp	Cons. · IFRS
FYE Sep 2023	63.3	−3.5pp	Cons. · IFRS
FYE Sep 2024	65.2	+1.8pp	Cons. · IFRS
FYE Sep 2025	67.3	+2.1pp	Cons. · IFRS

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Sep 2025 38.0%

Average · 10 yrs 31.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Sep 2016	31.5	n/a	Cons. · Japanese GAAP
FYE Sep 2017	23.0	−8.5pp	Cons. · Japanese GAAP
FYE Sep 2018	24.8	moved to IFRS	Cons. · IFRS
FYE Sep 2019	35.5	+10.7pp	Cons. · IFRS
FYE Sep 2020	31.4	−4.1pp	Cons. · IFRS
FYE Sep 2021	31.2	−0.3pp	Cons. · IFRS
FYE Sep 2022	32.3	+1.1pp	Cons. · IFRS
FYE Sep 2023	32.2	−0.1pp	Cons. · IFRS
FYE Sep 2024	34.1	+2.0pp	Cons. · IFRS
FYE Sep 2025	38.0	+3.9pp	Cons. · IFRS

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Sep 2025 26.5%

Average · 10 yrs 23.9%

Fiscal year	Net margin %	YoY	Basis
FYE Sep 2016	24.0	n/a	Cons. · Japanese GAAP
FYE Sep 2017	13.5	−10.5pp	Cons. · Japanese GAAP
FYE Sep 2018	16.3	moved to IFRS	Cons. · IFRS
FYE Sep 2019	19.6	+3.2pp	Cons. · IFRS
FYE Sep 2020	23.1	+3.5pp	Cons. · IFRS
FYE Sep 2021	21.2	−1.9pp	Cons. · IFRS
FYE Sep 2022	48.0	+26.9pp	Cons. · IFRS
FYE Sep 2023	21.3	−26.7pp	Cons. · IFRS
FYE Sep 2024	25.4	+4.0pp	Cons. · IFRS
FYE Sep 2025	26.5	+1.1pp	Cons. · IFRS

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Sep 2025 32.7%

Average · 10 yrs 31.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Sep 2016	22.9	n/a	Cons. · Japanese GAAP
FYE Sep 2017	30.7	+7.8pp	Cons. · Japanese GAAP
FYE Sep 2018	34.4	moved to IFRS	Cons. · IFRS
FYE Sep 2019	28.4	−5.9pp	Cons. · IFRS
FYE Sep 2020	27.8	−0.6pp	Cons. · IFRS
FYE Sep 2021	32.6	+4.7pp	Cons. · IFRS
FYE Sep 2022	33.1	+0.6pp	Cons. · IFRS
FYE Sep 2023	36.7	+3.5pp	Cons. · IFRS
FYE Sep 2024	34.8	−1.8pp	Cons. · IFRS
FYE Sep 2025	32.7	−2.1pp	Cons. · IFRS

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Sep 2025 29.6%

Average · 10 yrs 37.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Sep 2016	45.6	n/a	Cons. · Japanese GAAP
FYE Sep 2017	46.3	+0.7pp	Cons. · Japanese GAAP
FYE Sep 2018	39.6	moved to IFRS	Cons. · IFRS
FYE Sep 2019	36.3	−3.4pp	Cons. · IFRS
FYE Sep 2020	40.6	+4.4pp	Cons. · IFRS
FYE Sep 2021	36.1	−4.5pp	Cons. · IFRS
FYE Sep 2022	35.0	−1.1pp	Cons. · IFRS
FYE Sep 2023	31.5	−3.5pp	Cons. · IFRS
FYE Sep 2024	31.5	−0.0pp	Cons. · IFRS
FYE Sep 2025	29.6	−1.9pp	Cons. · IFRS

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Sep 2025 ¥407bn

CAGR · 10 yrs +24.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Sep 2016	55.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	83.1	+50.6%	Cons. · Japanese GAAP
FYE Sep 2018	116	moved to IFRS	Cons. · IFRS
FYE Sep 2019	140	+20.4%	Cons. · IFRS
FYE Sep 2020	192	+37.2%	Cons. · IFRS
FYE Sep 2021	215	+12.2%	Cons. · IFRS
FYE Sep 2022	273	+26.9%	Cons. · IFRS
FYE Sep 2023	292	+6.9%	Cons. · IFRS
FYE Sep 2024	345	+17.9%	Cons. · IFRS
FYE Sep 2025	407	+18.0%	Cons. · IFRS

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Sep 2025 ¥110bn

CAGR · 10 yrs +22.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Sep 2016	18.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	20.6	+13.4%	Cons. · Japanese GAAP
FYE Sep 2018	24.7	moved to IFRS	Cons. · IFRS
FYE Sep 2019	25.4	+3.2%	Cons. · IFRS
FYE Sep 2020	30.0	+17.9%	Cons. · IFRS
FYE Sep 2021	53.9	+79.5%	Cons. · IFRS
FYE Sep 2022	85.0	+57.8%	Cons. · IFRS
FYE Sep 2023	89.7	+5.6%	Cons. · IFRS
FYE Sep 2024	100.0	+11.4%	Cons. · IFRS
FYE Sep 2025	110	+9.9%	Cons. · IFRS

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Sep 2025 ¥23bn

CAGR · 10 yrs +109.4%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Sep 2016	0.0	n/a	Cons. · Japanese GAAP
FYE Sep 2017	3.0	+9848.6%	Cons. · Japanese GAAP
FYE Sep 2018	6.3	moved to IFRS	Cons. · IFRS
FYE Sep 2019	17.2	+173.0%	Cons. · IFRS
FYE Sep 2020	18.9	+10.1%	Cons. · IFRS
FYE Sep 2021	15.2	−19.9%	Cons. · IFRS
FYE Sep 2022	23.0	+51.7%	Cons. · IFRS
FYE Sep 2023	29.4	+27.6%	Cons. · IFRS
FYE Sep 2024	33.3	+13.3%	Cons. · IFRS
FYE Sep 2025	23.3	−29.9%	Cons. · IFRS

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Sep 2025 ¥13bn

CAGR · 8 yrs +18.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Sep 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Sep 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Sep 2018	4.1	moved to IFRS	Cons. · IFRS
FYE Sep 2019	15.8	+285.2%	Cons. · IFRS
FYE Sep 2020	18.8	+19.0%	Cons. · IFRS
FYE Sep 2021	15.1	−19.5%	Cons. · IFRS
FYE Sep 2022	17.0	+12.3%	Cons. · IFRS
FYE Sep 2023	20.4	+20.0%	Cons. · IFRS
FYE Sep 2024	24.3	+19.3%	Cons. · IFRS
FYE Sep 2025	13.4	−44.9%	Cons. · IFRS

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Sep 2025 ¥9.9bn

CAGR · 10 yrs +90.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Sep 2016	0.0	n/a	Cons. · Japanese GAAP
FYE Sep 2017	3.0	+9848.6%	Cons. · Japanese GAAP
FYE Sep 2018	2.2	moved to IFRS	Cons. · IFRS
FYE Sep 2019	1.4	−36.4%	Cons. · IFRS
FYE Sep 2020	0.1	−90.6%	Cons. · IFRS
FYE Sep 2021	0.0	−84.7%	Cons. · IFRS
FYE Sep 2022	6.0	+29765.6%	Cons. · IFRS
FYE Sep 2023	9.0	+49.3%	Cons. · IFRS
FYE Sep 2024	8.9	−0.4%	Cons. · IFRS
FYE Sep 2025	9.9	+11.1%	Cons. · IFRS

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Sep 2025 ¥10bn

CAGR · 10 yrs +10.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Sep 2016	4.1	n/a	Cons. · Japanese GAAP
FYE Sep 2017	4.5	+8.7%	Cons. · Japanese GAAP
FYE Sep 2018	3.2	moved to IFRS	Cons. · IFRS
FYE Sep 2019	3.2	−1.3%	Cons. · IFRS
FYE Sep 2020	3.7	+15.5%	Cons. · IFRS
FYE Sep 2021	4.3	+15.6%	Cons. · IFRS
FYE Sep 2022	5.7	+33.3%	Cons. · IFRS
FYE Sep 2023	8.1	+41.6%	Cons. · IFRS
FYE Sep 2024	9.8	+21.4%	Cons. · IFRS
FYE Sep 2025	10.3	+5.2%	Cons. · IFRS

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Sep 2025 ¥3.5bn

CAGR · 10 yrs +8.4%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Sep 2016	1.7	n/a	Cons. · Japanese GAAP
FYE Sep 2017	1.6	−4.0%	Cons. · Japanese GAAP
FYE Sep 2018	1.7	moved to IFRS	Cons. · IFRS
FYE Sep 2019	1.2	−31.5%	Cons. · IFRS
FYE Sep 2020	1.2	−0.0%	Cons. · IFRS
FYE Sep 2021	1.3	+8.0%	Cons. · IFRS
FYE Sep 2022	1.3	−0.0%	Cons. · IFRS
FYE Sep 2023	1.3	−0.0%	Cons. · IFRS
FYE Sep 2024	1.3	−0.0%	Cons. · IFRS
FYE Sep 2025	3.5	+177.9%	Cons. · IFRS

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Sep 2025 27.0%

Average · 10 yrs 25.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Sep 2016	32.9	n/a	Cons. · Japanese GAAP
FYE Sep 2017	24.8	−8.1pp	Cons. · Japanese GAAP
FYE Sep 2018	21.2	moved to IFRS	Cons. · IFRS
FYE Sep 2019	18.2	−3.0pp	Cons. · IFRS
FYE Sep 2020	15.6	−2.5pp	Cons. · IFRS
FYE Sep 2021	25.0	+9.4pp	Cons. · IFRS
FYE Sep 2022	31.1	+6.1pp	Cons. · IFRS
FYE Sep 2023	30.7	−0.4pp	Cons. · IFRS
FYE Sep 2024	29.0	−1.7pp	Cons. · IFRS
FYE Sep 2025	27.0	−2.0pp	Cons. · IFRS

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Sep 2025 21.2%

Average · 10 yrs 31.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Sep 2016	0.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	14.6	+14.4pp	Cons. · Japanese GAAP
FYE Sep 2018	25.5	moved to IFRS	Cons. · IFRS
FYE Sep 2019	67.6	+42.0pp	Cons. · IFRS
FYE Sep 2020	63.1	−4.5pp	Cons. · IFRS
FYE Sep 2021	28.1	−34.9pp	Cons. · IFRS
FYE Sep 2022	27.1	−1.1pp	Cons. · IFRS
FYE Sep 2023	32.7	+5.6pp	Cons. · IFRS
FYE Sep 2024	33.3	+0.6pp	Cons. · IFRS
FYE Sep 2025	21.2	−12.0pp	Cons. · IFRS

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Sep 2025 19.9%

Average · 10 yrs 19.2%

Fiscal year	ROE %	YoY	Basis
FYE Sep 2016	16.0	n/a	Cons. · Japanese GAAP
FYE Sep 2017	14.3	−1.7pp	Cons. · Japanese GAAP
FYE Sep 2018	17.5	moved to IFRS	Cons. · IFRS
FYE Sep 2019	20.7	+3.2pp	Cons. · IFRS
FYE Sep 2020	25.4	+4.7pp	Cons. · IFRS
FYE Sep 2021	16.4	−9.0pp	Cons. · IFRS
FYE Sep 2022	28.4	+12.0pp	Cons. · IFRS
FYE Sep 2023	15.0	−13.4pp	Cons. · IFRS
FYE Sep 2024	18.7	+3.7pp	Cons. · IFRS
FYE Sep 2025	19.9	+1.2pp	Cons. · IFRS

Definition: What the shareholders' capital earns
Formula: Net profit ÷ equity
Source: Securities report (XBRL)

ROA return on assets

FYE Sep 2025 5.4%

Average · 10 yrs 4.9%

Fiscal year	ROA %	YoY	Basis
FYE Sep 2016	5.3	n/a	Cons. · Japanese GAAP
FYE Sep 2017	3.5	−1.7pp	Cons. · Japanese GAAP
FYE Sep 2018	3.7	moved to IFRS	Cons. · IFRS
FYE Sep 2019	3.8	+0.1pp	Cons. · IFRS
FYE Sep 2020	4.0	+0.2pp	Cons. · IFRS
FYE Sep 2021	4.1	+0.1pp	Cons. · IFRS
FYE Sep 2022	8.8	+4.7pp	Cons. · IFRS
FYE Sep 2023	4.6	−4.2pp	Cons. · IFRS
FYE Sep 2024	5.4	+0.8pp	Cons. · IFRS
FYE Sep 2025	5.4	−0.1pp	Cons. · IFRS

Definition: What the whole balance sheet earns
Formula: Net profit ÷ total assets
Source: Securities report (XBRL)

Asset turnover

FYE Sep 2025 0.20×

CAGR · 10 yrs −0.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Sep 2016	0.22	n/a	Cons. · Japanese GAAP
FYE Sep 2017	0.26	+19.4%	Cons. · Japanese GAAP
FYE Sep 2018	0.23	moved to IFRS	Cons. · IFRS
FYE Sep 2019	0.19	−15.4%	Cons. · IFRS
FYE Sep 2020	0.17	−10.5%	Cons. · IFRS
FYE Sep 2021	0.19	+12.4%	Cons. · IFRS
FYE Sep 2022	0.18	−4.9%	Cons. · IFRS
FYE Sep 2023	0.22	+17.4%	Cons. · IFRS
FYE Sep 2024	0.21	−0.9%	Cons. · IFRS
FYE Sep 2025	0.20	−5.3%	Cons. · IFRS

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Sep 2025 ¥54bn

Average · 10 yrs ¥17bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Sep 2016	-0.7	n/a	Cons. · Japanese GAAP
FYE Sep 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Sep 2018	4.7	moved to IFRS	Cons. · IFRS
FYE Sep 2019	1.3	−72.1%	Cons. · IFRS
FYE Sep 2020	49.2	+3650.2%	Cons. · IFRS
FYE Sep 2021	-6.3	−112.9%	Cons. · IFRS
FYE Sep 2022	7.7	n/a	Cons. · IFRS
FYE Sep 2023	6.1	−20.0%	Cons. · IFRS
FYE Sep 2024	49.5	+707.2%	Cons. · IFRS
FYE Sep 2025	53.8	+8.7%	Cons. · IFRS

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Sep 2025 -¥7.3bn

Average · 10 yrs -¥1.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Sep 2016	-3.4	n/a	Cons. · Japanese GAAP
FYE Sep 2017	-2.0	n/a	Cons. · Japanese GAAP
FYE Sep 2018	-8.3	moved to IFRS	Cons. · IFRS
FYE Sep 2019	0.9	n/a	Cons. · IFRS
FYE Sep 2020	-4.5	−623.7%	Cons. · IFRS
FYE Sep 2021	2.2	n/a	Cons. · IFRS
FYE Sep 2022	-2.4	−209.5%	Cons. · IFRS
FYE Sep 2023	17.8	n/a	Cons. · IFRS
FYE Sep 2024	-5.2	−129.5%	Cons. · IFRS
FYE Sep 2025	-7.3	n/a	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Sep 2025 -¥1.2bn

Average · 10 yrs ¥3.1bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Sep 2016	-0.7	n/a	Cons. · Japanese GAAP
FYE Sep 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Sep 2018	18.1	moved to IFRS	Cons. · IFRS
FYE Sep 2019	8.0	−55.9%	Cons. · IFRS
FYE Sep 2020	-0.8	−109.9%	Cons. · IFRS
FYE Sep 2021	12.8	n/a	Cons. · IFRS
FYE Sep 2022	2.6	−79.4%	Cons. · IFRS
FYE Sep 2023	-6.4	−343.6%	Cons. · IFRS
FYE Sep 2024	-3.7	n/a	Cons. · IFRS
FYE Sep 2025	-1.2	n/a	Cons. · IFRS

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Sep 2025 ¥220bn

CAGR · 10 yrs +27.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Sep 2016	25.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	27.6	+9.5%	Cons. · Japanese GAAP
FYE Sep 2018	42.0	moved to IFRS	Cons. · IFRS
FYE Sep 2019	52.0	+23.7%	Cons. · IFRS
FYE Sep 2020	95.8	+84.2%	Cons. · IFRS
FYE Sep 2021	105	+9.1%	Cons. · IFRS
FYE Sep 2022	114	+9.0%	Cons. · IFRS
FYE Sep 2023	134	+17.3%	Cons. · IFRS
FYE Sep 2024	174	+30.2%	Cons. · IFRS
FYE Sep 2025	220	+26.4%	Cons. · IFRS

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Sep 2025 ¥46bn

Average · 10 yrs ¥15bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Sep 2016	-4.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	-0.2	n/a	Cons. · Japanese GAAP
FYE Sep 2018	-3.6	moved to IFRS	Cons. · IFRS
FYE Sep 2019	2.2	n/a	Cons. · IFRS
FYE Sep 2020	44.7	+1960.0%	Cons. · IFRS
FYE Sep 2021	-4.1	−109.2%	Cons. · IFRS
FYE Sep 2022	5.2	n/a	Cons. · IFRS
FYE Sep 2023	23.9	+358.3%	Cons. · IFRS
FYE Sep 2024	44.2	+85.2%	Cons. · IFRS
FYE Sep 2025	46.4	+4.9%	Cons. · IFRS

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Sep 2025 65.2%

Average · 10 yrs 31.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Sep 2016	-6.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	8.0	+14.2pp	Cons. · Japanese GAAP
FYE Sep 2018	17.8	moved to IFRS	Cons. · IFRS
FYE Sep 2019	4.9	−12.9pp	Cons. · IFRS
FYE Sep 2020	148.8	+144.0pp	Cons. · IFRS
FYE Sep 2021	-15.2	−164.1pp	Cons. · IFRS
FYE Sep 2022	15.2	+30.4pp	Cons. · IFRS
FYE Sep 2023	9.7	−5.5pp	Cons. · IFRS
FYE Sep 2024	67.0	+57.3pp	Cons. · IFRS
FYE Sep 2025	65.2	−1.9pp	Cons. · IFRS

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Sep 2025 ¥197bn

CAGR · 10 yrs +25.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Sep 2016	25.2	n/a	Cons. · Japanese GAAP
FYE Sep 2017	24.6	−2.3%	Cons. · Japanese GAAP
FYE Sep 2018	35.7	moved to IFRS	Cons. · IFRS
FYE Sep 2019	34.8	−2.6%	Cons. · IFRS
FYE Sep 2020	76.9	+120.9%	Cons. · IFRS
FYE Sep 2021	89.4	+16.2%	Cons. · IFRS
FYE Sep 2022	91.0	+1.8%	Cons. · IFRS
FYE Sep 2023	104	+14.7%	Cons. · IFRS
FYE Sep 2024	141	+35.0%	Cons. · IFRS
FYE Sep 2025	197	+39.7%	Cons. · IFRS

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Sep 2025 ¥635bn

Change · 10 yrs +¥440bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Sep 2016	195	n/a
FYE Sep 2017	392	n/a
FYE Sep 2018	523	n/a
FYE Sep 2019	537	n/a
FYE Sep 2020	835	n/a
FYE Sep 2021	1,086	n/a
FYE Sep 2022	762	n/a
FYE Sep 2023	626	n/a
FYE Sep 2024	674	n/a
FYE Sep 2025	635	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Sep 2025 8,297¥

Change · 10 yrs +3,037¥

Fiscal year	Share price ¥	Basis
FYE Sep 2016	5,260	n/a
FYE Sep 2017	10,559	n/a
FYE Sep 2018	14,079	n/a
FYE Sep 2019	7,230	n/a
FYE Sep 2020	11,240	n/a
FYE Sep 2021	14,180	n/a
FYE Sep 2022	9,952	n/a
FYE Sep 2023	8,177	n/a
FYE Sep 2024	8,799	n/a
FYE Sep 2025	8,297	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Sep 2025 76,557,545shares

Change · 10 yrs +39,407,045 shares

Fiscal year	Shares outstanding shares	Basis
FYE Sep 2016	37,150,500	Parent
FYE Sep 2017	37,150,500	Parent
FYE Sep 2018	37,150,500	Parent
FYE Sep 2019	74,301,000	Parent
FYE Sep 2020	74,301,000	Parent
FYE Sep 2021	76,557,545	Parent
FYE Sep 2022	76,557,545	Parent
FYE Sep 2023	76,557,545	Parent
FYE Sep 2024	76,557,545	Parent
FYE Sep 2025	76,557,545	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Sep 2025 287.79¥

Change · 10 yrs +248.61¥

Fiscal year	EPS ¥	Basis
FYE Sep 2016	39.18	Cons.
FYE Sep 2017	32.58	Cons.
FYE Sep 2018	57.75	Cons.
FYE Sep 2019	71.61	Cons.
FYE Sep 2020	103.62	Cons.
FYE Sep 2021	117.98	Cons.
FYE Sep 2022	318.45	Cons.
FYE Sep 2023	177.68	Cons.
FYE Sep 2024	246.62	Cons.
FYE Sep 2025	287.79	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Sep 2025 1,434.85¥

Change · 10 yrs +945.98¥

Fiscal year	BPS ¥	Basis
FYE Sep 2016	488.87	Cons. · Japanese GAAP
FYE Sep 2017	554.34	Cons. · Japanese GAAP
FYE Sep 2018	664.02	Cons. · IFRS
FYE Sep 2019	342.53	Cons. · IFRS
FYE Sep 2020	403.96	Cons. · IFRS
FYE Sep 2021	703.67	Cons. · IFRS
FYE Sep 2022	1,110.08	Cons. · IFRS
FYE Sep 2023	1,172.24	Cons. · IFRS
FYE Sep 2024	1,305.83	Cons. · IFRS
FYE Sep 2025	1,434.85	Cons. · IFRS

Definition: Equity behind each share
Formula: Equity ÷ shares outstanding
Source: Securities report (XBRL)

PER price-to-earnings ratio

FYE Sep 2025 28.83×

Average · 10 yrs 76.85×

Fiscal year	PER ×	Basis
FYE Sep 2016	67.13	Cons.
FYE Sep 2017	108.03	Cons.
FYE Sep 2018	121.90	Cons.
FYE Sep 2019	100.96	Cons.
FYE Sep 2020	108.47	Cons.
FYE Sep 2021	120.19	Cons.
FYE Sep 2022	31.25	Cons.
FYE Sep 2023	46.02	Cons.
FYE Sep 2024	35.68	Cons.
FYE Sep 2025	28.83	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Sep 2025 5.57×

Average · 10 yrs 13.79×

Fiscal year	PBR ×	Basis
FYE Sep 2016	10.88	Cons.
FYE Sep 2017	13.29	Cons.
FYE Sep 2018	20.91	Cons.
FYE Sep 2019	20.07	Cons.
FYE Sep 2020	26.06	Cons.
FYE Sep 2021	19.26	Cons.
FYE Sep 2022	8.66	Cons.
FYE Sep 2023	6.72	Cons.
FYE Sep 2024	6.49	Cons.
FYE Sep 2025	5.57	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Sep 2025 882people

Change · 10 yrs +282 people

Fiscal year	Group employees people	YoY	Basis
FYE Sep 2016	600	n/a	Cons.
FYE Sep 2017	654	+9.0%	Cons.
FYE Sep 2018	756	+15.6%	Cons.
FYE Sep 2019	819	+8.3%	Cons.
FYE Sep 2020	625	−23.7%	Cons.
FYE Sep 2021	714	+14.2%	Cons.
FYE Sep 2022	799	+11.9%	Cons.
FYE Sep 2023	825	+3.3%	Cons.
FYE Sep 2024	853	+3.4%	Cons.
FYE Sep 2025	882	+3.4%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Sep 2025 594people

Change · 10 yrs +301 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Sep 2016	293	n/a	Parent
FYE Sep 2017	322	+9.9%	Parent
FYE Sep 2018	382	+18.6%	Parent
FYE Sep 2019	418	+9.4%	Parent
FYE Sep 2020	476	+13.9%	Parent
FYE Sep 2021	494	+3.8%	Parent
FYE Sep 2022	578	+17.0%	Parent
FYE Sep 2023	580	+0.3%	Parent
FYE Sep 2024	590	+1.7%	Parent
FYE Sep 2025	594	+0.7%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Sep 2025 ¥11.0m

Change · 7 yrs +¥3.1m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Sep 2016	n/a	n/a	Parent
FYE Sep 2017	n/a	n/a	Parent
FYE Sep 2018	n/a	n/a	Parent
FYE Sep 2019	7.9	n/a	Parent
FYE Sep 2020	6.9	−12.6%	Parent
FYE Sep 2021	9.6	+39.2%	Parent
FYE Sep 2022	9.0	−5.4%	Parent
FYE Sep 2023	8.6	−4.5%	Parent
FYE Sep 2024	10.0	+16.2%	Parent
FYE Sep 2025	11.0	+9.4%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Sep 2025 37.5years

Change · 7 yrs +3.9 years

Fiscal year	Average age years	YoY	Basis
FYE Sep 2016	n/a	n/a	Parent
FYE Sep 2017	n/a	n/a	Parent
FYE Sep 2018	n/a	n/a	Parent
FYE Sep 2019	33.6	n/a	Parent
FYE Sep 2020	34.3	+2.1%	Parent
FYE Sep 2021	35.3	+2.9%	Parent
FYE Sep 2022	35.4	+0.3%	Parent
FYE Sep 2023	36.3	+2.5%	Parent
FYE Sep 2024	36.8	+1.4%	Parent
FYE Sep 2025	37.5	+1.9%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Sep 2025 6.3years

Change · 7 yrs +2.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Sep 2016	n/a	n/a	Parent
FYE Sep 2017	n/a	n/a	Parent
FYE Sep 2018	n/a	n/a	Parent
FYE Sep 2019	4.1	n/a	Parent
FYE Sep 2020	4.2	+2.4%	Parent
FYE Sep 2021	4.6	+9.5%	Parent
FYE Sep 2022	4.5	−2.2%	Parent
FYE Sep 2023	5.2	+15.6%	Parent
FYE Sep 2024	5.6	+7.7%	Parent
FYE Sep 2025	6.3	+12.5%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Sep 2025 27people

Change · 10 yrs +25 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Sep 2016	2	n/a	n/a
FYE Sep 2017	3	+50.0%	n/a
FYE Sep 2018	3	−0.0%	n/a
FYE Sep 2019	11	+266.7%	n/a
FYE Sep 2020	6	−45.5%	n/a
FYE Sep 2021	11	+83.3%	n/a
FYE Sep 2022	16	+45.5%	n/a
FYE Sep 2023	22	+37.5%	n/a
FYE Sep 2024	25	+13.6%	n/a
FYE Sep 2025	27	+8.0%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Sep 2025 ¥93.5m

Change · 10 yrs +¥73.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Sep 2016	20.2	n/a	Cons.
FYE Sep 2017	33.3	+65.1%	Cons.
FYE Sep 2018	34.9	n/a	Cons.
FYE Sep 2019	32.9	−5.9%	Cons.
FYE Sep 2020	52.9	+60.8%	Cons.
FYE Sep 2021	58.4	+10.4%	Cons.
FYE Sep 2022	63.0	+7.9%	Cons.
FYE Sep 2023	76.5	+21.5%	Cons.
FYE Sep 2024	86.5	+13.1%	Cons.
FYE Sep 2025	93.5	+8.1%	Cons.

Definition: What each employee accounts for in revenue
Formula: Revenue ÷ group employees
Source: Securities report (XBRL)

Operating profit per employee

FYE Sep 2025 ¥35.5m

Change · 10 yrs +¥29.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Sep 2016	6.4	n/a	Cons.
FYE Sep 2017	7.7	+20.5%	Cons.
FYE Sep 2018	8.7	n/a	Cons.
FYE Sep 2019	11.7	+34.7%	Cons.
FYE Sep 2020	16.6	+42.4%	Cons.
FYE Sep 2021	18.2	+9.4%	Cons.
FYE Sep 2022	20.3	+11.8%	Cons.
FYE Sep 2023	24.6	+21.1%	Cons.
FYE Sep 2024	29.5	+19.9%	Cons.
FYE Sep 2025	35.5	+20.3%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

Data API

GMO Payment Gateway’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/3769/company.json ·/api/3769/history.json ·/api/3769/ceo.json ·/api/3769/financials.json ·/api/3769/financials/segment.json ·/api/3769/financials/pl.json ·/api/3769/financials/cf.json ·/api/3769/financials/bs.json ·/api/3769/financials/employee.json ·/api/3769/financials/stock.json ·/api/3769/financials.csv ·/api/3769/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json