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Akatsuki, Inc.
(3932)
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Rating:72Outperform
Price Target:
¥4,009.00
▲(51.17% Upside)
Action:Reiterated
Date:08/21/26
The score is driven primarily by improved FY2026 financial momentum but tempered by a history of volatility in profitability and cash conversion and a notable rise in debt. Technicals are supportive with a strong uptrend, though momentum is stretched. Valuation is a key positive, with a low P/E and a healthy dividend yield.
Positive Factors
Revenue Growth
The return to meaningful revenue growth after several years of mild declines indicates renewed demand or stronger monetization. Sustained growth would improve operating leverage and provide a stronger base for ongoing investment in mobile games and digital entertainment.
Negative Factors
Profitability Volatility
The wide swings in earnings suggest that profitability remains sensitive to game launches, player engagement and title performance. Such volatility makes durable earnings power harder to assess and can constrain consistent reinvestment across the portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The return to meaningful revenue growth after several years of mild declines indicates renewed demand or stronger monetization. Sustained growth would improve operating leverage and provide a stronger base for ongoing investment in mobile games and digital entertainment.
Read all positive factors
Akatsuki, Inc. (3932) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥46.08B
Dividend Yield3.34%
Average Volume (3M)95.70K
Price to Earnings (P/E)6.9
Beta (1Y)0.27
Revenue Growth31.30%
EPS Growth923.93%
CountryJP
Employees537
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)391.93
Shares Outstanding14,519,800
10 Day Avg. Volume141,260
30 Day Avg. Volume95,703
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.86
Price to Sales (P/S)1.51
P/FCF Ratio14.85
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)528
Revenue Forecast (FY)¥45.20B
Akatsuki, Inc. Business Overview & Revenue Model
Company Description
Established in 2010 and based in Tokyo, Japan, Akatsuki Inc. primarily engages in the creation of mobile games and the provision of various live experiences across the country. Beyond its game development efforts, the company manages an extensive ...
How the Company Makes Money
Akatsuki’s primary monetization comes from the operation and publishing of mobile games, where revenue is typically generated through in-game purchases (e.g., virtual items, gacha/loot-box style draws, character acquisition, stamina/boost items) a...
Akatsuki, Inc. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.86B | 23.65B | 23.97B | 24.34B | 26.27B |
| Gross Profit | 14.03B | 13.70B | 13.49B | 14.35B | 15.50B |
| EBITDA | 7.86B | 4.04B | 2.85B | 5.85B | 7.61B |
| Net Income | 5.65B | 1.65B | 1.29B | 1.34B | 5.19B |
Balance Sheet | |||||
| Total Assets | 62.33B | 54.63B | 52.04B | 53.16B | 46.08B |
| Cash, Cash Equivalents and Short-Term Investments | 30.55B | 33.28B | 30.96B | 34.07B | 25.72B |
| Total Debt | 11.65B | 6.10B | 7.10B | 10.20B | 4.21B |
| Total Liabilities | 16.95B | 13.18B | 11.83B | 14.40B | 7.84B |
| Stockholders Equity | 45.36B | 41.44B | 40.19B | 38.75B | 38.24B |
Cash Flow | |||||
| Free Cash Flow | 2.63B | 3.80B | -246.00M | 5.00B | 4.42B |
| Operating Cash Flow | 2.73B | 3.87B | -84.00M | 5.05B | 4.79B |
| Investing Cash Flow | -3.32B | -1.47B | -73.00M | 1.21B | -3.01B |
| Financing Cash Flow | 3.18B | -2.14B | -3.24B | 4.92B | -4.19B |
Akatsuki, Inc. Technical Analysis
Positive
2652.00
Price Trends
3179.98
Positive
3060.02
Positive
2881.35
Positive
Market Momentum
230.80
Negative
69.07
Neutral
80.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3932, the sentiment is Positive. The current price of 2652 is below the 20-day moving average (MA) of 3546.75, below the 50-day MA of 3179.98, and below the 200-day MA of 2881.35, indicating a bullish trend. The MACD of 230.80 indicates Negative momentum. The RSI at 69.07 is Neutral, neither overbought nor oversold. The STOCH value of 80.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3932.
Akatsuki, Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥46.08B | 6.91 | ― | 4.06% | 31.30% | 923.93% | |
66 Neutral | ¥59.97B | 12.93 | ― | 0.68% | 2.93% | 34.22% | |
63 Neutral | ¥134.99B | 55.59 | 2.01% | 3.69% | -6.09% | -56.51% | |
61 Neutral | ¥74.69B | 17.81 | 4.38% | 5.42% | -10.13% | 242.23% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | ¥14.77B | 9.42 | ― | ― | 2.70% | -28.19% | |
42 Neutral | ¥15.96B | 18.67 | ― | ― | 10.54% | ― |
* Communication Services Sector Average
JP:3932
Akatsuki, Inc.
3,680.00
924.98
33.57%
JP:3632
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424.00
1.02
0.24%
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-6.53%
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6.90%
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gumi, Inc.
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29.88%
Akatsuki, Inc. Corporate Events
Akatsuki Plans Three-for-One Stock Split to Boost Liquidity
Aug 12, 2026
Akatsuki Inc. has approved a three-for-one stock split of its common shares, effective October 1, 2026, aiming to improve share liquidity and make its stock more accessible to a wider range of investors. The number of issued shares will rise from ...
Akatsuki Returns to Profit, Lifts Q1 Sales but Withholds Full-Year Guidance
Aug 12, 2026
Akatsuki Inc. reported a sharp rebound in performance for the first quarter of the fiscal year ending March 31, 2027, with net sales more than doubling year on year to ¥5.13 billion and a swing from loss to profit, posting ¥787 million i...
Akatsuki to Turn SUNNY SIDE UP GROUP into Consolidated Subsidiary After Tender Offer
Jun 25, 2026
Akatsuki Inc. has successfully completed a tender offer for shares and share acquisition rights of SUNNY SIDE UP GROUP Inc., a company listed on the Tokyo Stock Exchange Standard Market. The offer ran from May 14 to June 24, 2026, with no cap on t...
Akatsuki Seeks Shareholder Approval for New Director Stock Option Plan
May 22, 2026
Akatsuki Inc. plans to introduce a new stock option remuneration framework for its internal directors, seeking shareholder approval at its June 25, 2026 annual meeting to grant up to JPY 100 million per year in stock acquisition rights, separate f...
Akatsuki Raises Year-End Dividend, Signaling Confidence in Earnings
May 22, 2026
Akatsuki Inc. said its board has approved a proposal for a year-end dividend of ¥60 per share for the fiscal year ended March 31, 2026, up from ¥55 in the previous year, with a total payout of ¥867 million drawn from earned surplus....
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.