RYOJ on Nasdaq
rYojbaba Co., Ltd.
RYojbaba Co., Ltd. is a management consulting services company, listed on Nasdaq (RYOJ).1
Price unavailable
Last updated Oct 20, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
26.6%Gross margin2
-8.1%Operating margin2
1.3%Net margin2
-19.4%Revenue growth, 20252
2.0%Return on equity2
0.51×Debt to equity2
$688.5KFree cash flow2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue73¢$6.8M
- Other costs19¢$1.8M
- Income tax6¢$584.8K
- Profit1¢$119.4K
Out of $9.3M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending20¢$175.4K
- Kept or used elsewhere80¢$688.5K
Out of $863.9K of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $9.3M | $11.6M | $11.0M |
| Cost of revenue | $6.8M | $7.1M | $7.2M |
| Gross profit | $2.5M | $4.5M | $3.7M |
| Payroll expenses | $865.4K | $833.7K | $605.4K |
| General and administrative expenses | $2.3M | $1.7M | $1.7M |
| Depreciation and amortization | $15.0K | $20.0K | $39.3K |
| Rent and lease | $65.2K | $88.9K | $70.0K |
| Total operating expenses | $3.2M | $2.6M | $2.4M |
| Income (loss) from operations | -$755.4K | $1.9M | $1.3M |
| Interest income | $4.3K | $322 | $12.8K |
| Other income | $353.8K | $159.4K | $161.9K |
| Interest expenses | -$68.0K | -$77.3K | -$92.9K |
| Total other income (expense) | $290.0K | $82.5K | $81.7K |
| Income (loss) before income taxes | -$465.4K | $1.9M | $1.4M |
| Income taxes expense (benefit) | -$584.8K | $611.0K | $616.4K |
| Net income | $119.4K | $1.3M | $770.6K |
| Other comprehensive loss | -$240.8K | -$198.0K | -$49.2K |
| Comprehensive income (loss) | -$121.4K | $1.1M | $721.4K |
| Basic income per Common Share | $0.01 | $0.13 | $0.08 |
| Diluted income per Common Share | $0.01 | $0.13 | $0.08 |
| Basic weighted average number of common shares outstanding | 10.5M shares | 10.0M shares | 10.0M shares |
| Diluted weighted average number of common shares outstanding | 10.5M shares | 10.0M shares | 10.0M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2024-02-29 | 2023-12-31 | 2023-08-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $6.2M | $2.6M | |||
| Accounts receivable | $1.0M | $2.8M | |||
| Inventories | $72.5K | $66.0K | |||
| Deferred offering cost | $941.7K | ||||
| Prepaid expenses and other current assets | $440.9K | $90.4K | |||
| Total current assets | $7.7M | $6.5M | |||
| Property and equipment, net | $1.5M | $1.5M | |||
| Intangible assets, net | $1.1M | $1.7M | |||
| Operating lease right-of-use assets | $4.9M | $5.3M | |||
| Security deposits | $288.8K | $285.7K | |||
| Deferred tax assets | $1.4M | $857.6K | |||
| Other non-current assets | $8.3K | $10.4K | |||
| Total Assets | $16.9M | $16.1M | |||
| Accounts payable and other current liabilities | $872.5K | $1.9M | |||
| Contract liabilities | $263.3K | $256.9K | $390.4K | ||
| Income tax payables | $22.0K | $418.7K | |||
| Short-term debts | 50.0M CNY | ||||
| Current portion of long-term debts, net | $687.7K | $1.3M | |||
| Finance lease liabilities, current | $29.3K | $34.2K | |||
| Operating lease liabilities, current | $650.1K | $673.2K | |||
| Total Current Liabilities | $2.8M | $4.6M | |||
| Long-term debts, net | $3.1M | $3.8M | |||
| Asset retirement obligation, non-current | $467.5K | $457.8K | |||
| Finance lease liabilities, non-current | $39.5K | $57.3K | |||
| Operating lease liabilities, non-current | $4.2M | $4.6M | |||
| Other non-current liabilities | $101.5K | $106.2K | |||
| Total Liabilities | $10.8M | $13.5M | |||
| Share Capital: 40,000,000 Common shares authorized; no par value, 11,550,000 and 10,000,000 shares issued and outstanding as of December 31, 2025 and 2024 | $2.5M | $41.5K | |||
| Additional paid-in capital | $2.5M | $1.4M | |||
| Retained earnings | $1.7M | $1.6M | |||
| Accumulated other comprehensive loss | -$738.6K | -$497.8K | |||
| Total Shareholders Equity | $6.1M | $2.5M | $1.4M | ||
| Total Liabilities and Shareholders Equity | $16.9M | $16.1M | |||
| Common stock, shares authorized | 40.0M shares | 40.0M shares | 40.0M shares | ||
| Common stock, par value | $0 | $0 | $0 | ||
| Common stock, shares issued | 11.6M shares | 10.0M shares | 10.0M shares | 10.0M shares | |
| Common stock, shares outstanding | 11.6M shares | 10.0M shares | 10.0M shares | ||
| Shareholders receive common share held | 1.0K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-02-29 | 2023-12-31 | 2023-08-31 | 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | $6.2M | $2.6M | ||||
| Accounts receivable | $1.0M | $2.8M | ||||
| Inventories | $72.5K | $66.0K | ||||
| Deferred offering cost | $941.7K | |||||
| Prepaid expenses and other current assets | $440.9K | $90.4K | ||||
| Total current assets | $7.7M | $6.5M | ||||
| Property and equipment, net | $1.5M | $1.5M | ||||
| Intangible assets, net | $1.1M | $1.7M | ||||
| Operating lease right-of-use assets | $4.9M | $5.3M | ||||
| Security deposits | $288.8K | $285.7K | ||||
| Deferred tax assets | $1.4M | $857.6K | ||||
| Other non-current assets | $8.3K | $10.4K | ||||
| Total Assets | $16.9M | $16.1M | ||||
| Accounts payable and other current liabilities | $872.5K | $1.9M | ||||
| Contract liabilities | $263.3K | $256.9K | $390.4K | |||
| Income tax payables | $22.0K | $418.7K | ||||
| Short-term debts | 50.0M CNY | |||||
| Current portion of long-term debts, net | $687.7K | $1.3M | ||||
| Finance lease liabilities, current | $29.3K | $34.2K | ||||
| Operating lease liabilities, current | $650.1K | $673.2K | ||||
| Total Current Liabilities | $2.8M | $4.6M | ||||
| Long-term debts, net | $3.1M | $3.8M | ||||
| Asset retirement obligation, non-current | $467.5K | $457.8K | ||||
| Finance lease liabilities, non-current | $39.5K | $57.3K | ||||
| Operating lease liabilities, non-current | $4.2M | $4.6M | ||||
| Other non-current liabilities | $101.5K | $106.2K | ||||
| Total Liabilities | $10.8M | $13.5M | ||||
| Share Capital: 40,000,000 Common shares authorized; no par value, 11,550,000 and 10,000,000 shares issued and outstanding as of December 31, 2025 and 2024 | $2.5M | $41.5K | ||||
| Additional paid-in capital | $2.5M | $1.4M | ||||
| Retained earnings | $1.7M | $1.6M | ||||
| Accumulated other comprehensive loss | -$738.6K | -$497.8K | ||||
| Total Shareholders Equity | $6.1M | $2.5M | $1.4M | $665.5K | ||
| Total Liabilities and Shareholders Equity | $16.9M | $16.1M | ||||
| Common stock, shares authorized | 40.0M shares | 40.0M shares | 40.0M shares | |||
| Common stock, par value | $0 | $0 | $0 | |||
| Common stock, shares issued | 11.6M shares | 10.0M shares | 10.0M shares | 10.0M shares | ||
| Common stock, shares outstanding | 11.6M shares | 10.0M shares | 10.0M shares | |||
| Shareholders receive common share held | 1.0K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $119.4K | $1.3M | $770.6K |
| Depreciation and amortization | $461.5K | $469.3K | $333.6K |
| Stock-based compensation expense | $537.0K | ||
| Impairment loss | 54.6M CNY | ||
| Accretion of bond discount | $2.4K | $4.4K | $4.7K |
| (Gain) loss on sales of property and equipment | -$6.1K | ||
| Non-cash lease expense | $760.7K | $703.0K | $1.3M |
| Non-cash Asset retirement obligation expense | $5.0K | $4.7K | $5.3K |
| Deferred income taxes | -$587.2K | $5.3K | $224.9K |
| Accounts receivable | $1.9M | -$1.9M | $184.5K |
| Inventories | -$6.1K | $20.3K | -$96.1K |
| Prepaid expenses and other assets | -$363.5K | $19.7K | -$63.4K |
| Accounts payable and accrued liabilities | -$1.1M | $1.0M | -$421.8K |
| Contract liabilities | $3.9K | -$97.1K | -$250.9K |
| Income tax payable | -$419.7K | $173.1K | $83.1K |
| Operating lease liabilities | -$788.6K | -$991.3K | -$1.7M |
| Net Cash provided by Operating Activities | $863.9K | $802.4K | $389.0K |
| Collection of loan receivable - related party | $2.4M | ||
| Purchases of property and equipment | -$175.4K | -$121.2K | -$70.3K |
| Sales of property and equipment | $6.8K | ||
| Purchases of intangible assets | -$1.7M | ||
| Net Cash (used in) provided by Investing Activities | -$175.4K | -$121.2K | $625.6K |
| Payments of deferred offering cost | -$187.4K | -$411.2K | -$615.5K |
| Proceeds from issuance of common stock in initial public offering net of underwriting discounts and commissions | $4.4M | ||
| Proceeds from exercise of stock acquisition rights | $1.9K | ||
| Proceeds from short-term debt | $334.2K | ||
| Repayment of short-term debt | -$1.3M | ||
| Proceeds from long-term debt | $559.3K | ||
| Repayments of long-term debt | -$1.3M | -$640.0K | -$1.1M |
| Payment for finance leases | -$36.4K | -$60.0K | -$154.0K |
| Net Cash provided by (used in) Financing Activities | $3.1M | -$2.4M | -$1.3M |
| Effect of Exchange Rate Changes on Cash | -$272.6K | -$421.9K | -$347.2K |
| Net change in cash | $3.6M | -$2.2M | -$657.5K |
| Cash paid for interest | $68.0K | $77.3K | $92.9K |
| Cash paid for taxes | $696.0K | $297.9K | $321.2K |
| Initial recognition of right of use assets and lease liability | $370.6K | $431.1K | $696.0K |
| Initial recognition of asset retirement obligation | $26.0K | $55.6K | $36.7K |
| Reduction of asset retirement obligation liabilities | $44.7K | $28.4K | $8.2K |
No quarter-by-quarter statement was filed.
Corporate structure
rYojbaba Co., Ltd. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of rYojbaba Co., Ltd.
- Ryoji Baba Filed SCHEDULE 13D on rYojbaba Co., Ltd., latest Aug 20, 2025
- Satoshi Saito Filed SCHEDULE 13D on rYojbaba Co., Ltd., latest Aug 20, 2025
- rYojbaba Co., Ltd. M0
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What rYojbaba Co., Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $3.0M2 Dec 31, 2025 | $3.0M2 Dec 31, 2024 | +1.6% |
| Accumulated depreciation | $1.5M2 Dec 31, 2025 | $1.4M2 Dec 31, 2024 | +6.1% |
| Property and equipment, net | $1.5M2 Dec 31, 2025 | $1.5M2 Dec 31, 2024 | −2.8% |
| Finance-lease assets | $69.3K2 Dec 31, 2025 | $93.1K2 Dec 31, 2024 | −25.6% |
| Operating-lease assets (leased space) | $4.9M2 Dec 31, 2025 | $5.3M2 Dec 31, 2024 | −6.3% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $1.1M2 Dec 31, 2025 | $1.7M2 Dec 31, 2024 | −33.5% |
| Finite-lived intangibles, gross | $2.0M2 Dec 31, 2025 | $2.0M2 Dec 31, 2024 | +1.0% |
| Accumulated amortization | $870.6K2 Dec 31, 2025 | $295.1K2 Dec 31, 2024 | +195.0% |
| Finite-lived intangibles, net | $693.4K2 Dec 31, 2025 |
Inventory
Leadership
Who has led rYojbaba Co., Ltd., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerRyoji Baba Mar 18, 2026 to now4
- Chief financial officerRyoji Baba Mar 18, 2026 to now4
Board members and other officers (4)
- Chief Accounting OfficerYusuke Hirata Mar 18, 2026 to now5
- Board memberFerdinand Groenewald Mar 18, 2026 to now6
- Board memberRyoji Baba Mar 18, 2026 to now4
- Board memberYusuke Hirata Mar 18, 2026 to now5
Timeline
- Mar 18, 2026New chief executive Ryoji Baba becomes CEO4
Filings
55 filings to the SEC since October 2021: 2 annual reports, 6 insider forms, 2 large holders, 45 other. The latest 20:
- Oct 15, 20266-K EDGAR
- Jun 15, 20266-K EDGAR
- Apr 14, 20266-K EDGAR
- Apr 8, 202620-F/A EDGAR
- Mar 30, 20266-K EDGAR
- Mar 23, 202620-F EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 4, 20266-K EDGAR
- Mar 2, 20266-K EDGAR
- Dec 15, 20256-K EDGAR
- Dec 2, 20256-K EDGAR
- Nov 12, 20256-K EDGAR
- Oct 24, 20256-K EDGAR
- Oct 21, 20256-K EDGAR
- Sep 18, 20256-K EDGAR
The 55 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ryoji BabaSCHEDULE 13D, 1 filing Aug 20, 20257
- Satoshi SaitoSCHEDULE 13D, 1 filing Aug 20, 20258
SEC filer profile
How rYojbaba Co., Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARrYojbaba Co., Ltd.1
- CIK0002012600
- Filer statusNon-accelerated filer an emerging growth company; a shell company9
- Incorporated inJapan9
- Fiscal year endsDecember 311
- Industry code (SIC)8742 Services-Management Consulting Services1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address4-3-1, Ohashi, Minami-Ku, Fukuoka-Shi, Fukuoka, M0 815-00331
- Phone81 (92) 553-03441
- Shares outstanding11,550,000 shares as of Dec 31, 20259
- AuditorGuzmanGray, Costa Mesa, California PCAOB ID 7143; no auditor attestation of internal control over financial reporting9
- On EDGAR sinceMar 29, 20241
- Filings55 in all: 6-K (15), F-1/A (9), 3 (6), CORRESP (5), FWP (4), UPLOAD (4), SCHEDULE 13D (2), 20-F (1)1
All 17 form types
20-F/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), F-1 (1)
- Latest filingsAnnual report (20-F) Mar 23, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Shares, no par value* | Nasdaq |
From the cover page of the 20-F filed Mar 23, 2026 (Section 12(b) of the Exchange Act).9
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4SEC EDGARRyoji Baba, Chief executive officer
- 5
- 6SEC EDGARFerdinand Groenewald, Board member
- 7
- 8
- 9