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m-up holdings, Inc.
(3661)
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Rating:74Outperform
Price Target:
¥906.00
▼(-4.43% Downside)
Action:Reiterated
Date:09/30/26
The score is driven primarily by strong financial performance (accelerating revenue growth, improving profitability, strong cash conversion, and a debt-free balance sheet). Offsetting this, technical indicators are largely neutral with slightly negative momentum (negative MACD) and valuation appears reasonable but not compelling at a ~20.6 P/E despite a ~2.47% dividend yield.
Positive Factors
Accelerating Revenue Growth
Accelerating revenue growth indicates strengthening demand and expanding commercial reach across the group’s digital businesses. If maintained, this momentum can support operating leverage, fund product investment, and reinforce the company’s ability to build earnings over the next several quarters.
Negative Factors
Gross Margin Softening
Gross margin softening could limit how much of future revenue growth reaches operating profit, even while current margins remain healthy. The decline suggests that product mix or competitive conditions may be affecting economics and warrants attention to margin sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Accelerating revenue growth indicates strengthening demand and expanding commercial reach across the group’s digital businesses. If maintained, this momentum can support operating leverage, fund product investment, and reinforce the company’s ability to build earnings over the next several quarters.
Read all positive factors
m-up holdings, Inc. (3661) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥58.48B
Dividend Yield2.44%
Average Volume (3M)420.81K
Price to Earnings (P/E)20.9
Beta (1Y)0.37
Revenue Growth21.79%
EPS Growth36.96%
CountryJP
Employees362
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)39.34
Shares Outstanding72,992,775
10 Day Avg. Volume226,990
30 Day Avg. Volume420,813
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)4.80
Price to Sales (P/S)1.42
P/FCF Ratio6.45
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)49.15
Revenue Forecast (FY)¥36.72B
m-up holdings, Inc. Business Overview & Revenue Model
Company Description
m-up holdings, Inc., established in Tokyo, Japan, in 2004, focuses on digital content distribution for both mobile and PC platforms, alongside a robust e-commerce presence. The company's diverse digital services encompass the operation of official...
How the Company Makes Money
m-up holdings, Inc. generates revenue primarily through its operating subsidiaries and their provision of digital content and related services. Key revenue streams generally include (1) sales and licensing/usage fees from digital content (e.g., mo...
m-up holdings, Inc. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.32B | 31.71B | 25.78B | 18.57B | 15.94B | 13.57B |
| Gross Profit | 9.34B | 8.87B | 7.82B | 6.05B | 5.03B | 4.35B |
| EBITDA | 5.50B | 5.20B | 3.61B | 3.34B | 2.57B | 2.05B |
| Net Income | 2.78B | 2.97B | 1.67B | 1.48B | 1.09B | 976.00M |
Balance Sheet | ||||||
| Total Assets | 31.01B | 31.62B | 24.67B | 19.55B | 16.44B | 14.19B |
| Cash, Cash Equivalents and Short-Term Investments | 15.35B | 16.38B | 12.33B | 8.78B | 6.98B | 6.74B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 20.88B | 20.67B | 15.88B | 12.41B | 9.78B | 8.79B |
| Stockholders Equity | 8.44B | 9.39B | 7.74B | 6.38B | 6.20B | 5.13B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 6.98B | 5.11B | 2.81B | 817.00M | 2.01B |
| Operating Cash Flow | 0.00 | 7.02B | 5.48B | 2.99B | 1.46B | 2.57B |
| Investing Cash Flow | 0.00 | -1.24B | -1.05B | -604.00M | -1.07B | -459.82M |
| Financing Cash Flow | 0.00 | -1.73B | -881.00M | -586.00M | -149.00M | -191.60M |
m-up holdings, Inc. Technical Analysis
Positive
948.00
Price Trends
805.22
Positive
743.99
Positive
748.67
Positive
Market Momentum
0.39
Negative
54.59
Neutral
64.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3661, the sentiment is Positive. The current price of 948 is above the 20-day moving average (MA) of 807.75, above the 50-day MA of 805.22, and above the 200-day MA of 748.67, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 54.59 is Neutral, neither overbought nor oversold. The STOCH value of 64.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3661.
m-up holdings, Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | ¥29.36B | 12.16 | ― | 0.63% | 16.53% | 76.82% | |
74 Outperform | ¥58.48B | 20.87 | ― | 2.44% | 21.79% | 36.96% | |
67 Neutral | ¥16.44B | 11.99 | ― | 1.49% | 3.61% | ― | |
64 Neutral | ¥11.62B | 14.38 | ― | 2.53% | 14.91% | -43.20% | |
64 Neutral | ¥5.35B | 16.88 | ― | ― | 9.66% | -14.00% | |
63 Neutral | ¥11.98B | 18.25 | ― | ― | 14.00% | -71.98% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
JP:3661
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m-up holdings, Inc. Corporate Events
m-up holdings Posts Strong Sales Growth but Lower Quarterly Profit, Eyes Full-Year Earnings Recovery
Aug 14, 2026
m-up holdings reported consolidated net sales of ¥9,018 million for the quarter ended June 30, 2026, up 21.6% year-on-year, with operating profit rising 15.8% to ¥1,606 million and ordinary profit up 21.1% to ¥1,706 million. Profit ...
m-up Holdings Completes Treasury Share Disposal for Restricted Stock Compensation
Jul 29, 2026
m-up Holdings, Inc. has completed the payment procedures for the disposal of 362,000 treasury shares under a restricted stock compensation plan for key management. The shares, priced at 645 yen each for a total of 233,490,000 yen, were allotted to...
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.