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Akatsuki, Inc.
(3932)
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Rating:76Outperform
Price Target:
¥1,399.00
▼(-47.25% Downside)
Action:Reiterated
Date:09/30/26
The score is driven primarily by attractive valuation (low P/E and high dividend yield) and supportive technical momentum (price above major moving averages with positive MACD). Financial performance is improving with FY2026 growth and earnings rebound, but the score is tempered by volatility in profitability/cash conversion and a notable FY2026 debt step-up.
Positive Factors
Revenue Growth
The return to 18.4% revenue growth indicates improving demand and renewed commercial momentum after a period of mild declines. If sustained through live-service operations and new content, stronger sales can support reinvestment, scale benefits, and a more durable earnings base.
Negative Factors
Earnings Volatility
The multi-year swings in profitability make the latest earnings rebound less predictable as a lasting baseline. Such volatility can complicate investment planning, reduce confidence in recurring earnings power, and leave results more exposed to uneven title performance or changing content cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The return to 18.4% revenue growth indicates improving demand and renewed commercial momentum after a period of mild declines. If sustained through live-service operations and new content, stronger sales can support reinvestment, scale benefits, and a more durable earnings base.
Read all positive factors
Akatsuki, Inc. (3932) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥50.85B
Dividend Yield6.11%
Average Volume (3M)296.00K
Price to Earnings (P/E)7.0
Beta (1Y)0.30
Revenue Growth31.30%
EPS Growth923.93%
CountryJP
Employees537
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)177.55
Shares Outstanding43,559,400
10 Day Avg. Volume170,490
30 Day Avg. Volume296,000
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)176
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 | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.67B | 25.86B | 23.65B | 23.97B | 24.34B | 26.27B |
| Gross Profit | 16.35B | 14.03B | 13.70B | 13.49B | 14.35B | 15.50B |
| EBITDA | 10.36B | 7.86B | 4.04B | 2.85B | 5.85B | 7.61B |
| Net Income | 7.60B | 5.65B | 1.65B | 1.29B | 1.34B | 5.19B |
Balance Sheet | ||||||
| Total Assets | 78.65B | 62.33B | 54.63B | 52.04B | 53.16B | 46.08B |
| Cash, Cash Equivalents and Short-Term Investments | 38.21B | 30.55B | 33.28B | 30.96B | 34.07B | 25.72B |
| Total Debt | 34.87B | 11.65B | 6.10B | 7.10B | 10.20B | 4.21B |
| Total Liabilities | 39.77B | 16.95B | 13.18B | 11.83B | 14.40B | 7.84B |
| Stockholders Equity | 38.86B | 45.36B | 41.44B | 40.19B | 38.75B | 38.24B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 2.63B | 3.80B | -246.00M | 5.00B | 4.42B |
| Operating Cash Flow | 0.00 | 2.73B | 3.87B | -84.00M | 5.05B | 4.79B |
| Investing Cash Flow | 0.00 | -3.32B | -1.47B | -73.00M | 1.21B | -3.01B |
| Financing Cash Flow | 0.00 | 3.18B | -2.14B | -3.24B | 4.92B | -4.19B |
Akatsuki, Inc. Technical Analysis
Positive
2652.00
Price Trends
1127.67
Positive
1051.28
Positive
975.12
Positive
Market Momentum
31.78
Positive
57.17
Neutral
57.63
Neutral
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 above the 20-day moving average (MA) of 1217.63, above the 50-day MA of 1127.67, and above the 200-day MA of 975.12, indicating a bullish trend. The MACD of 31.78 indicates Positive momentum. The RSI at 57.17 is Neutral, neither overbought nor oversold. The STOCH value of 57.63 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥50.85B | 7.03 | ― | 6.11% | 31.30% | 923.93% | |
66 Neutral | ¥58.76B | 12.99 | ― | 0.57% | 2.93% | 34.17% | |
63 Neutral | ¥128.39B | 52.40 | 2.01% | 3.70% | -6.09% | -56.51% | |
61 Neutral | ¥75.76B | 17.64 | 4.38% | 5.26% | -10.13% | 242.10% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
49 Neutral | ¥10.89B | -6.59 | ― | 0.71% | 26.98% | -143.29% | |
42 Neutral | ¥15.13B | 18.17 | ― | 0.49% | 10.54% | ― |
* Communication Services Sector Average
JP:3932
Akatsuki, Inc.
1,288.00
439.26
51.75%
JP:3632
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Akatsuki, Inc. Corporate Events
Akatsuki to Rebrand as SUNNYS Holdings After SUNNY SIDE UP Integration
Sep 11, 2026
Akatsuki Inc. is integrating its digital technology and IP business expertise with SUNNY SIDE UP GROUP Inc.’s marketing and value-enhancement capabilities to build a comprehensive IP trading house spanning digital, analog, real-world and AI ...
Akatsuki Sets October Extraordinary Shareholders Meeting to Revise Governance
Sep 11, 2026
Akatsuki Inc. has set October 30, 2026, as the date for an extraordinary general meeting of shareholders to be held at its event space in Shinagawa, Tokyo. The meeting follows a previously announced record date of September 14, 2026, and formalize...
Akatsuki Sets Record Date for Extraordinary Shareholders Meeting in October
Aug 28, 2026
Akatsuki Inc. has resolved at a Board of Directors meeting to convene an extraordinary general meeting of shareholders, signaling an upcoming governance or strategic decision that requires shareholder approval. The company has set September 14, 20...
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...
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.