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Mixi
(2121)
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Rating:75Outperform
Price Target:
¥4,275.00
▲(19.25% Upside)
Action:Reiterated
Date:10/31/26
The score is driven primarily by healthy TTM financial performance (strong margins and improving cash generation), supported by favorable valuation (P/E ~11.5 and ~3.16% dividend yield). Technicals are constructive longer-term but mixed in the near term, which tempers the overall rating.
Positive Factors
Strong profitability
MIXI’s strong gross and operating profitability indicates that its digital consumer services retain meaningful economic value after direct and operating costs. These margins provide room to fund product investment, absorb moderate cost pressure, and convert revenue growth into durable earnings over the next several quarters.
Negative Factors
Margin volatility
The sharp variation in net profitability shows that MIXI’s earnings remain sensitive to product mix, seasonality, or cost swings. Even with strong current margins, this history makes future earnings less predictable and could limit the durability of operating performance if conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
MIXI’s strong gross and operating profitability indicates that its digital consumer services retain meaningful economic value after direct and operating costs. These margins provide room to fund product investment, absorb moderate cost pressure, and convert revenue growth into durable earnings over the next several quarters.
Read all positive factors
Mixi (2121) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥238.82B
Dividend Yield3.16%
Average Volume (3M)260.40K
Price to Earnings (P/E)11.5
Beta (1Y)0.33
Revenue Growth19.88%
EPS Growth34.50%
CountryJP
Employees2,116
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)340.28
Shares Outstanding68,530,850
10 Day Avg. Volume309,860
30 Day Avg. Volume260,403
Financial Highlights & Ratios
PEG Ratio4.69
Price to Book (P/B)0.92
Price to Sales (P/S)0.98
P/FCF Ratio16.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,000.00Price Target Upside11.58% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)365.8
Revenue Forecast (FY)¥201.79B
Mixi Business Overview & Revenue Model
Company Description
Tokyo-based mixi, Inc., initially founded as eMecury Co., Ltd. in 1999 before its rebranding in February 2006, is a diverse Japanese enterprise focused on entertainment and lifestyle services. The company boasts a robust digital portfolio, encompa...
How the Company Makes Money
Null....
Mixi Earnings Call Summary
Earnings Call Date:Jan 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Jan 29, 2027
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with significant growth in several segments, strong performance of new products, and successful launches. However, challenges such as misconduct impact and declines in certain entertainment products were noted.Positive Updates
Overall Increase in Sales and Profits
Net sales increased to JPY 38.7 billion with EBITDA at JPY 7.1 billion and operating income at JPY 5.9 billion. Profit attributable to owners of parent was JPY 2.9 billion, indicating an increase in both sales and profits.
Negative Updates
Misconduct Impact on Net Income
Misconduct at a consolidated subsidiary led to a decrease in net income by JPY 500 million.
Read all updates
Q2-2025 Updates
Positive
Negative
Overall Increase in Sales and Profits
Net sales increased to JPY 38.7 billion with EBITDA at JPY 7.1 billion and operating income at JPY 5.9 billion. Profit attributable to owners of parent was JPY 2.9 billion, indicating an increase in both sales and profits.
Read all positive updates
Company Guidance
During the Q2 2025 earnings call for 2121.T, CFO Kohei Shimamura reported a positive financial performance with net sales reaching JPY 38.7 billion and EBITDA at JPY 7.1 billion. The company saw an operating income of JPY 5.9 billion and a profit attributable to owners of the parent at JPY 2.9 billion, despite a JPY 500 million decrease in net income due to misconduct at a subsidiary. The Sports segment experienced a 28.6% year-on-year increase in net sales to JPY 9.6 billion, driven by TIPSTAR and FC Tokyo, while the Lifestyle segment saw a 27.7% rise in sales to JPY 2.7 billion. However, the Digital Entertainment segment faced a 9.1% decline in sales to JPY 22 billion, despite a 27.7% increase in EBITDA to JPY 8.2 billion. The Investment segment reported net sales of JPY 4.3 billion, bolstered by Timee share sales. CEO Koki Kimura highlighted the strong performance of new character sales for Monster Strike and the promising growth of the new SNS mixi2, with over 1.2 million registered users by December.Mixi Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 199.96B | 171.37B | 154.85B | 146.87B | 146.87B | 118.10B |
| Gross Profit | 131.56B | 113.59B | 106.04B | 102.63B | 105.12B | 88.58B |
| EBITDA | 43.13B | 34.25B | 32.03B | 17.00B | 15.97B | 20.36B |
| Net Income | 22.25B | 17.27B | 17.60B | 7.08B | 5.16B | 10.26B |
Balance Sheet | ||||||
| Total Assets | 294.61B | 280.40B | 225.54B | 207.34B | 222.32B | 218.06B |
| Cash, Cash Equivalents and Short-Term Investments | 147.33B | 146.31B | 144.04B | 129.53B | 138.44B | 133.03B |
| Total Debt | 45.65B | 45.15B | 12.45B | 7.44B | 7.80B | 8.14B |
| Total Liabilities | 94.84B | 90.94B | 44.21B | 31.61B | 38.86B | 32.00B |
| Stockholders Equity | 192.51B | 182.39B | 180.06B | 174.52B | 182.14B | 184.64B |
Cash Flow | ||||||
| Free Cash Flow | 31.53B | 10.43B | 23.77B | 9.76B | 18.88B | 731.00M |
| Operating Cash Flow | 39.99B | 20.23B | 30.26B | 13.22B | 20.85B | 4.04B |
| Investing Cash Flow | -16.25B | -31.55B | -14.49B | -6.85B | -7.35B | -17.44B |
| Financing Cash Flow | -917.00M | 13.22B | -10.38B | -15.73B | -8.33B | -16.63B |
Mixi Technical Analysis
Positive
3585.00
Price Trends
3700.43
Positive
3271.84
Positive
2918.50
Positive
Market Momentum
51.55
Positive
49.77
Neutral
12.61
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2121, the sentiment is Positive. The current price of 3585 is below the 20-day moving average (MA) of 3847.25, below the 50-day MA of 3700.43, and above the 200-day MA of 2918.50, indicating a neutral trend. The MACD of 51.55 indicates Positive momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 12.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2121.
Mixi Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥50.93B | 6.98 | ― | 9.68% | 31.30% | 923.93% | |
75 Outperform | ¥238.82B | 11.50 | 12.03% | 3.16% | 19.88% | 34.50% | |
64 Neutral | ¥236.41B | 6.32 | 16.91% | 2.58% | -16.65% | 39.13% | |
63 Neutral | ¥122.94B | 51.37 | 2.01% | 3.83% | -6.09% | -56.51% | |
61 Neutral | ¥77.19B | 18.10 | 4.38% | 5.10% | -10.13% | 242.10% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
45 Neutral | ¥12.64B | 15.26 | ― | 0.49% | 10.54% | ― |
* Communication Services Sector Average
JP:2121
Mixi
3,800.00
804.74
26.87%
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Mixi Corporate Events
MIXI Delivers Strong First-Half Earnings and Signals Higher Dividends
Oct 30, 2026
MIXI reported strong interim results for the six months ended September 30, 2026, with net sales rising 42.4% year-on-year to ¥96.0 billion and profit attributable to owners of parent more than doubling. EBITDA nearly doubled, operating incom...
MIXI Says PointsBet Forecast Cut Will Not Alter Full-Year Outlook
Oct 13, 2026
MIXI’s Australian-listed consolidated subsidiary PointsBet Holdings Limited has issued a trading update for the first half of fiscal 2027, forecasting group revenue of about 113 million AUD, a year-on-year decline of roughly 16%. The company...
MIXI Lifts FY2027 Profit and Dividend Forecast on Extraordinary Gain
Jul 31, 2026
MIXI, Inc., a TSE Prime Market-listed Japanese internet services company, focuses on growth through business development, RD, and MA while maintaining a shareholder-friendly capital policy. The group aims for sustainable corporate value enhancemen...
MIXI Delivers Surging Q1 Profits and Lifts Full-Year Dividend Outlook
Jul 31, 2026
MIXI reported a sharp earnings rebound for the quarter ended June 30, 2026, with net sales surging 50.3% year on year to ¥47.1 billion and profit attributable to owners of parent jumping 311.7% to ¥5.8 billion. EBITDA more than doubled a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.