enish, Inc. (3667) AI Stock Analysis

enish, Inc.

(TSE/TYO:3667)

Select Model

Rating:37Underperform

Price Target:JPY 16.00▼(-5.88% Downside)

Action:reiterated

Date:10/28/26

The overall score of 37 reflects a company in severe financial distress with deeply negative profitability, persistent cash burn, and a collapsing stock price trading below all major moving averages. The negative P/E and absence of dividends offer no valuation support. The primary risk is the unsustainable cash outflow that threatens the company's ability to continue operations without external funding. No positive factors are present to offset these critical weaknesses.

Positive Factors

Improved LeverageThe substantial reduction in debt-to-equity has strengthened enish’s capital structure and reduced reliance on leverage. This provides greater resilience than in 2023 and preserves more financial flexibility to operate, invest in content, or manage volatility while the company works to restore profitability.

Negative Factors

Persistent Revenue ContractionRepeated revenue declines indicate that the company has not yet established a stable growth trajectory or dependable demand across its game portfolio. Continued contraction can reduce the scale available to support development and marketing, making recovery more dependent on successful new content or stronger title performance.

enish, Inc. (3667) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 497.15M
Dividend Yield: ―
Average Volume (3M): 395.38K
Price to Earnings (P/E): -0.5
Beta (1Y): 0.58
Revenue Growth: -35.20%
EPS Growth: 10.73%
Country: Japan
Employees: 82
Sector: Communication Services
Sector Strength: 60
Industry: Electronic Gaming & Multimedia

enish, Inc. Business Overview & Revenue Model

Company Description

enish,inc. engages in the planning, developing, and providing mobile games applications in Japan. enish,inc. was incorporated in 2009 and is headquartered in Minato, Japan.

How the Company Makes Money

enish, Inc. generates revenue mainly from the operation of its mobile/online games. This typically includes in-game purchases (e.g., sale of virtual items, characters, or other digital content) and may also include other game-related monetization suc...

enish, Inc. Financial Statement Overview

Summary

Severe financial distress: revenue declined 26% to ¥2.17B, gross margin is negative, operating margin is -39.5%, and persistent net losses are rapidly eroding equity. Cash flow from operations has been negative for six consecutive years, with a ¥873M outflow in the latest year, indicating an unsustainable cash burn rate. The balance sheet shows moderate leverage (D/E 0.43), but negative ROE (-150%) signals equity is being consumed quickly.

Income Statement

10Very Negative

Balance Sheet

20Very Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.90B	2.17B	3.32B	3.51B	4.12B	3.89B
Gross Profit	-439.53M	-323.61M	29.53M	-377.37M	348.44M	505.92M
EBITDA	-1.01B	-856.65M	-804.88M	-1.20B	-336.35M	-241.74M
Net Income	-1.10B	-1.15B	-882.22M	-1.37B	-415.44M	-279.71M
Balance Sheet
Total Assets	1.36B	1.59B	1.76B	1.89B	2.25B	1.54B
Cash, Cash Equivalents and Short-Term Investments	754.67M	994.38M	809.75M	1.09B	1.56B	652.91M
Total Debt	152.65M	331.69M	302.35M	753.00M	551.58M	552.20M
Total Liabilities	569.23M	827.09M	871.33M	1.38B	1.12B	974.66M
Stockholders Equity	787.69M	766.49M	889.46M	508.54M	1.13B	561.75M
Cash Flow
Free Cash Flow	0	-876.62M	-968.47M	-1.35B	-212.35M	-535.75M
Operating Cash Flow	0	-873.46M	-966.90M	-1.34B	-206.30M	-526.60M
Investing Cash Flow	0	-108.12M	-124.75M	-81.92M	67.20M	-49.22M
Financing Cash Flow	0	1.02B	1.15B	798.41M	1.10B	-172.12M

enish, Inc. Technical Analysis

Technical Analysis SentimentNegative

Last Price17.00

Price Trends

50DMA25.60Negative

100DMA27.22Negative

200DMA40.69Negative

Market Momentum

MACD-2.64Positive

RSI27.49Positive

STOCH11.11Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3667, the sentiment is Negative. The current price of 17.00 is below the 20-day moving average (MA) of 22.50, below the 50-day MA of 25.60, and below the 200-day MA of 40.69, indicating a bearish trend. The MACD of -2.64 indicates Positive momentum. The RSI at 27.49 is Positive, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3667.

enish, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

JP:3667 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:3912	73Outperform	JPY 6.93B	13.18	20.16%	4.59%	1.92%	-26.02%
JP:3911	70Outperform	JPY 10.09B	8.27	―	―	-20.04%	-54.97%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
JP:3928	50Neutral	JPY 2.15B	-20.57	―	―	-6.91%	-173.90%
JP:3656	45Neutral	JPY 12.64B	15.06	―	―	10.54%	―
JP:3903	42Neutral	JPY 9.59B	-5.50	―	―	26.98%	-143.29%
JP:3667	37Underperform	JPY 954.17M	-0.46	―	―	-35.20%	10.73%

* Communication Services Sector Average

Performance Comparison

JP:3667 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3667	enish, Inc.	17.00	-81.00	-82.65%
JP:3912	Mobile Factory, Inc.	1068.00	117.78	12.40%
JP:3656	KLab Inc.	150.00	-59.00	-28.23%
JP:3903	gumi, Inc.	173.00	-266.00	-60.59%
JP:3911	Aiming, Inc.	212.00	-7.00	-3.20%
JP:3928	Mynet, Inc.	229.00	4.00	1.78%

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.

Date of analysis: Oct 28, 2026

enish, Inc. AI Stock Analysis