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CyberStep, Inc. (3810) AI Stock Analysis

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JP:3810

CyberStep, Inc.

(TSE/TYO:3810)

Select Model
Rating:41Neutral
Price Target:JPY 160.00â–²(8.84% Upside)
Action:reiterated
Date:10/20/26

The score is weighed down primarily by weak financial performance—persistent losses and significant ongoing cash burn—despite a recent revenue rebound. Technicals also point to a broader downtrend with negative momentum. Valuation is difficult to assess due to negative earnings and no stated dividend yield.

Positive Factors
Recurring Online-Service ModelThe company operates games as ongoing online services and monetizes player spending on digital items, upgrades, and content. This service-based model creates an opportunity for recurring engagement and repeat monetization, provided titles retain users and receive updates over time.
Negative Factors
Persistent UnprofitabilityOperating losses were large and persistent across every reported year, while 2026 net income fell to -3.42B on 2.14B revenue. This shows that revenue growth has not yet translated into a viable earnings model, limiting internally funded investment and weakening resilience.

CyberStep, Inc. (3810) vs. iShares MSCI Japan ETF (EWJ)

-80%-60%-40%-20%0%20%40%JP:3810-60.59%EWJ+10.53%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 11.63B
Dividend Yield
―
Average Volume (3M)
1.35M
Price to Earnings (P/E)
-1.8
Beta (1Y)
0.72
Revenue Growth
6.86%
EPS Growth
51.79%
Country
Japan
Employees
224
Sector
General
Sector Strength
55
Industry
Electronic Gaming & Multimedia

CyberStep, Inc. Business Overview & Revenue Model

Company Description

CyberStep Holdings, Inc. engages in the development and publication of interactive entertainment that includes online games, content and related products. It operates through Online Game Business and Entertainment Business segments. The Online Game B...

How the Company Makes Money

CyberStep, Inc. generates revenue primarily from the operation of online games. Its core monetization model is based on users spending within its games (e.g., purchasing digital items, upgrades, or other in-game content via microtransactions) and pot...

CyberStep, Inc. Financial Statement Overview

Summary

Overall fundamentals are weak. Despite a sharp 2026 revenue rebound, the company continues to post large operating losses and a sharply widened net loss, while operating cash flow and free cash flow remain consistently negative and worsened in 2026. Balance-sheet leverage appears manageable, but persistent losses and negative ROE dominate the risk profile.

Income Statement

18Very Negative

Balance Sheet

52Neutral

Cash Flow

12Very Negative
Financial statement breakdown
BreakdownTTMMay 2025May 2024May 2023May 2022May 2021
Income Statement
Total Revenue2.52B2.14B2.50B2.99B4.06B7.42B
Gross Profit1.13B1.08B1.27B1.66B2.58B5.43B
EBITDA-1.86B-1.68B-2.14B-1.52B-1.30B-1.95B
Net Income-3.74B-3.42B-1.70B-1.46B-1.38B-2.10B
Balance Sheet
Total Assets6.67B5.99B1.08B2.04B3.34B2.83B
Cash, Cash Equivalents and Short-Term Investments2.84B3.63B212.00M903.00M2.28B1.67B
Total Debt133.00M138.00M120.00M219.00M436.00M230.00M
Total Liabilities794.00M694.00M530.00M891.00M1.02B806.49M
Stockholders Equity5.88B5.29B546.00M1.15B2.19B2.03B
Cash Flow
Free Cash Flow-3.16B-3.16B-2.05B-1.45B-1.22B-1.24B
Operating Cash Flow-3.13B-3.13B-2.05B-1.44B-1.19B-1.23B
Investing Cash Flow-1.62B-1.62B1.22B-60.00M-223.00M-56.00M
Financing Cash Flow8.15B8.15B697.00M82.00M1.79B682.58M

CyberStep, Inc. Technical Analysis

Technical Analysis SentimentNegative
Last Price147.00

Price Trends

50DMA179.56Negative
100DMA182.10Negative
200DMA223.37Negative

Market Momentum

MACD-7.38Positive
RSI30.50Neutral
STOCH63.89Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3810, the sentiment is Negative. The current price of 147.00 is below the 20-day moving average (MA) of 165.70, below the 50-day MA of 179.56, and below the 200-day MA of 223.37, indicating a bearish trend. The MACD of -7.38 indicates Positive momentum. The RSI at 30.50 is Neutral, neither overbought nor oversold. The STOCH value of 63.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3810.

CyberStep, Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

JP:3810 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:3911JP:391170OutperformJPY 10.14B8.23――-20.04%-54.97%
JP:3793JP:379366NeutralJPY 12.89B3.79――4.52%―
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
JP:3903JP:390345NeutralJPY 9.06B-4.84――26.98%-143.29%
JP:3656JP:365641NeutralJPY 12.22B13.25――10.54%―
JP:3810JP:381041NeutralJPY 12.29B-1.82――6.86%51.79%
JP:4175JP:417537UnderperformJPY 15.25B-14.60――-1.75%-617.20%

* General Sector Average

Performance Comparison

-50%0%50%JP:3810JP:3656JP:3793JP:3903JP:3911JP:4175Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:3810 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:3810CyberStep, Inc.147.00-218.00-59.73%
JP:3656KLab Inc.138.00-81.00-36.99%
JP:3793Drecom Co., Ltd.441.00-9.00-2.00%
JP:3903gumi, Inc.166.00-262.00-61.21%
JP:3911Aiming, Inc.229.009.004.09%
JP:4175coly Inc.2272.00213.0010.34%
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 20, 2026