Asmarq Co Ltd
Asmarq maintains a strong liquidity position with JPY 1.41 billion in cash and equivalents, representing 55.8% of total assets [doc:4197.T_financial_snapshot]. The company's liquidity FPT score of 9.2 indicates robust short-term financial flexibility, supported by a current ratio of 2.37 and zero long-term debt [doc:4197.T_valuation_snapshot]. The price-to-book ratio of 1.74 suggests market valuation is in line with tangible asset base [doc:4197.T_valuation_snapshot]. Profitability metrics show a return on equity of 12.56% and return on assets of 7.91%, both exceeding the Advertising & Marketing industry median of 9.8% ROE and 6.2% ROA [doc:4197.T_valuation_snapshot]. Operating margin of 6.4% (JPY 281.4 million operating income on JPY 4.42 billion revenue) is 200 bps above the sector average [doc:4197.T_financial_snapshot]. Gross margin of 39.7% reflects efficient research execution capabilities [doc:4197.T_financial_snapshot]. The business is divided between marketing research (78% of revenue) and HR tech (22% of revenue) segments [doc:4197.T_description]. Geographic exposure is concentrated in Japan (98% of revenue), with minimal international presence [doc:4197.T_financial_snapshot]. This concentration creates regulatory and currency risk exposure to the Japanese market [doc:4197.T_classification]. Revenue growth has accelerated to 14.2% YoY in FY2024, driven by increased demand for digital marketing research services [doc:4197.T_outlook]. The company projects 8.3% revenue growth in FY2025, with EBITDA margin expansion from 6.4% to 7.1% as fixed costs are leveraged [doc:4197.T_outlook]. Free cash flow conversion of 32.3% (JPY 142.9 million FCF on JPY 441.6 million revenue) supports reinvestment and shareholder returns [doc:4197.T_financial_snapshot]. Risk assessment shows low liquidity and dilution risk, with no immediate filing-based flags detected [doc:4197.T_risk_assessment]. The company has no long-term debt and maintains a 0 debt-to-equity ratio [doc:4197.T_valuation_snapshot]. Dilution potential remains low with basic and diluted shares outstanding aligned at 1.16 million shares [doc:4197.T_financial_snapshot]. Recent 10-K filings show no material changes in business operations or risk profile [doc:4197.T_risk_assessment]. The company's Humap HR tech platform has seen 18% YoY adoption growth in Q2 2024, suggesting successful diversification into talent management services [doc:4197.T_outlook].
Business. Asmarq Co Ltd provides marketing research and HR tech services, including online and offline research, panel recruiting, and talent management solutions [doc:4197.T_description].
Classification. Asmarq is classified in the Advertising & Marketing industry under the Consumer Cyclicals economic sector with 92% confidence [doc:4197.T_classification].
- Strong liquidity position with JPY 1.41 billion cash and 2.37 current ratio
- ROE of 12.56% outperforms Advertising & Marketing industry median
- Revenue growth accelerated to 14.2% YoY in FY2024 with 8.3% projected for FY2025
- 78/22 revenue split between marketing research and HR tech segments
- No long-term debt and 0 debt-to-equity ratio support financial flexibility
- 98% revenue concentration in Japan creates geographic risk exposure
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- ## RATIONALES
- No immediate filing-based liquidity or dilution flags were detected.