BPLATS,Inc. (4381) AI Stock Analysis

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BPLATS,Inc.

(TSE/TYO:4381)

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Rating:42Neutral

Price Target:JPY 189.00▼(-4.06% Downside)

Action:reiterated

Date:11/07/26

The score is driven primarily by weak financial health: very large net losses and negative equity outweigh improved cash generation and modest revenue recovery. Technicals further pressure the score due to a strong downtrend and negative momentum, while valuation provides limited support because the company is unprofitable and no dividend yield is available.

Positive Factors

Revenue RecoveryThe return to revenue growth after two declining years indicates renewed demand for the company’s platform and related services. If sustained, improving top-line performance can strengthen operating leverage, support investment in the business, and provide a foundation for eventual earnings recovery.

Negative Factors

Severe UnprofitabilityThe sharply widening net loss is the most significant fundamental weakness because it indicates that revenue and gross-margin recovery have not translated into sustainable bottom-line earnings. Persistent losses can consume capital, weaken financing flexibility, and delay the company’s path to self-funded growth.

BPLATS,Inc. (4381) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 592.02M
Dividend Yield: ―
Average Volume (3M): 401.79K
Price to Earnings (P/E): -0.6
Beta (1Y): 0.77
Revenue Growth: 4.46%
EPS Growth: -363.80%
Country: Japan
Employees: 43
Sector: General
Sector Strength: 55
Industry: Software - Application

BPLATS,Inc. Business Overview & Revenue Model

Company Description

Operating within Japan and across international markets, BPLATS,Inc. specializes in providing subscription-based solutions. A central component of its offerings is the Bplats platform, a comprehensive ecosystem designed to connect suppliers with sale...

How the Company Makes Money

BPLATS, Inc. generates revenue primarily through fees associated with its platform services that facilitate space-related procurement and transactions between corporate/organizational users and suppliers/service providers. Key revenue streams typical...

BPLATS,Inc. Financial Statement Overview

Summary

Despite revenue re-acceleration (+4.9% in FY2026) and improved operating/free cash flow (both ~200M), overall fundamentals are dominated by severe losses (net margin -127%) and a materially weakened balance sheet with negative equity (-447M) and high debt (~707M), which sharply limits financial flexibility.

Income Statement

28Negative

Balance Sheet

18Very Negative

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	725.75M	727.16M	706.26M	897.96M	945.17M	808.72M
Gross Profit	355.49M	283.04M	155.80M	338.36M	583.57M	431.04M
EBITDA	153.96M	145.94M	43.18M	108.43M	304.34M	253.61M
Net Income	-855.24M	-925.58M	-298.07M	-98.01M	182.90M	10.88M
Balance Sheet
Total Assets	377.85M	410.80M	1.09B	1.37B	1.35B	964.77M
Cash, Cash Equivalents and Short-Term Investments	241.43M	291.60M	68.06M	232.21M	350.06M	246.11M
Total Debt	675.24M	706.91M	696.73M	627.49M	544.96M	423.03M
Total Liabilities	778.45M	858.05M	803.25M	805.52M	711.05M	524.13M
Stockholders Equity	-400.60M	-447.25M	284.50M	562.30M	634.63M	435.44M
Cash Flow
Free Cash Flow	0	200.06M	39.53M	112.08M	324.76M	195.59M
Operating Cash Flow	0	200.06M	48.09M	116.98M	332.95M	202.97M
Investing Cash Flow	0	-166.30M	-291.80M	-321.08M	-353.34M	-300.54M
Financing Cash Flow	0	189.78M	79.55M	86.26M	124.34M	60.02M

BPLATS,Inc. Technical Analysis

Technical Analysis SentimentNegative

Last Price197.00

Price Trends

50DMA224.36Negative

100DMA278.49Negative

200DMA364.30Negative

Market Momentum

MACD-13.95Negative

RSI46.64Neutral

STOCH61.55Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4381, the sentiment is Negative. The current price of 197.00 is below the 20-day moving average (MA) of 210.90, below the 50-day MA of 224.36, and below the 200-day MA of 364.30, indicating a bearish trend. The MACD of -13.95 indicates Negative momentum. The RSI at 46.64 is Neutral, neither overbought nor oversold. The STOCH value of 61.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4381.

BPLATS,Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:4381 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:4477	74Outperform	JPY 37.86B	16.25	―	1.56%	36.14%	304.76%
JP:4484	63Neutral	JPY 4.18B	39.36	―	0.78%	16.33%	-38.56%
JP:4397	60Neutral	JPY 5.75B	15.40	―	―	23.50%	2.72%
JP:4476	60Neutral	JPY 4.22B	12.24	―	―	30.94%	398.65%
JP:5033	59Neutral	JPY 7.75B	46.70	―	―	7.04%	-67.36%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
JP:4381	42Neutral	JPY 970.09M	-0.59	―	―	4.46%	-363.80%

* General Sector Average

Performance Comparison

JP:4381 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:4381	BPLATS,Inc.	197.00	-377.00	-65.68%
JP:4397	TeamSpirit, Inc.	348.00	-162.00	-31.76%
JP:4476	AI CROSS Inc	1044.00	-790.00	-43.08%
JP:4477	BASE, Inc.	321.00	-10.93	-3.29%
JP:4484	Lancers, Inc.	257.00	-26.13	-9.23%
JP:5033	Nulab Inc.	1195.00	430.00	56.21%

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: Nov 06, 2026

BPLATS,Inc. AI Stock Analysis