Mixi (2121) AI Stock Analysis

• Market Cap: ¥221.23B
• Dividend Yield: 3.86%
• Average Volume (3M): 185.64K
• Price to Earnings (P/E): 13.2
• Beta (1Y): 0.40
• Revenue Growth: 5.43%
• EPS Growth: 156.35%
• Country: JP
• Employees: 1,645
• Sector: Communication Services
• Sector Strength: 92
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 105.05
• Shares Outstanding: 71,330,850
• 10 Day Avg. Volume: 230,060
• 30 Day Avg. Volume: 185,640
• PEG Ratio: -0.76
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 14.69
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 80 Outperform
• Price Target: ¥3,864.00 ▲(14.66%Upside)

Mixi's strong financial performance and solid valuation are the primary drivers of its favorable stock score. The technical analysis suggests positive market momentum, though the stock is nearing overbought levels. Overall, Mixi is well-positioned financially with reasonable valuation metrics and technical indicators suggesting potential for continued growth.

Mixi Business Overview & Revenue Model

Company Description

Mixi, Inc. (2121) is a Japanese company primarily engaged in the development and operation of social networking services and mobile games. Founded in 1999 and headquartered in Tokyo, Japan, Mixi's core products include the popular social networking service 'mixi' and a suite of mobile games, most notably 'Monster Strike,' which has achieved widespread success both domestically and internationally. The company operates within the technology and entertainment sectors, focusing on creating engaging digital content and experiences for its users.

How the Company Makes Money

Mixi generates revenue through a combination of in-app purchases, advertising, and partnerships. The company's flagship mobile game, 'Monster Strike,' contributes significantly to its earnings by offering players the option to purchase virtual items and currency within the game. This freemium model is a key revenue stream, as it encourages user engagement and spending. Additionally, Mixi monetizes its social networking platform through advertising, leveraging user data to deliver targeted ads. Strategic partnerships and collaborations also play a role in Mixi's revenue generation, as the company often works with other technology and entertainment firms to expand its reach and enhance its offerings.

Mixi Financial Statement Overview

Summary

Mixi exhibits strong financial health with robust revenue growth and profitability margins. The balance sheet is solid with low leverage, and the company shows effective cash flow management, despite some fluctuations in operational efficiency and investment outflows.

Income Statement

Mixi has demonstrated strong revenue growth with a 5.44% increase in revenue from 2024 to 2025. The gross profit margin is impressive at 68.50%, and the net profit margin has improved significantly to 11.37% in 2025. However, the EBIT and EBITDA margins show signs of volatility over the years, indicating potential risks in operational efficiency.

Balance Sheet

The company maintains a robust balance sheet with an equity ratio of 79.84% and a low debt-to-equity ratio of 0.07. The return on equity is healthy at 9.77%, reflecting efficient use of equity to generate profits. The strong equity position suggests financial stability and low leverage risk.

Cash Flow

Mixi's cash flow from operations has grown substantially, with the free cash flow nearly quadrupling from 2024 to 2025. The operating cash flow to net income ratio is 1.72, indicating strong cash conversion. However, the cash flow from investing and financing activities indicates significant outflows, which could impact future liquidity.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	154.85B	146.87B	146.87B	118.10B	119.32B
Gross Profit	106.04B	102.63B	105.12B	88.58B	93.31B
EBITDA	32.03B	17.00B	29.48B	20.33B	27.12B
Net Income	17.60B	7.08B	5.16B	10.26B	15.69B
Balance Sheet
Total Assets	225.54B	207.34B	222.32B	218.06B	226.36B
Cash, Cash Equivalents and Short-Term Investments	144.04B	129.53B	138.44B	118.63B	149.81B
Total Debt	12.45B	7.43B	7.79B	8.12B	8.93B
Total Liabilities	44.21B	31.61B	38.86B	32.00B	36.77B
Stockholders Equity	180.06B	174.52B	182.13B	184.64B	189.53B
Cash Flow
Free Cash Flow	23.77B	5.72B	13.20B	-796.00M	29.87B
Operating Cash Flow	30.26B	9.18B	15.75B	3.10B	34.67B
Investing Cash Flow	-14.49B	-6.85B	-7.35B	-17.89B	-7.16B
Financing Cash Flow	-13.16B	-15.73B	-8.33B	-16.63B	-3.14B

Mixi Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3370.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2121, the sentiment is Positive. The current price of 3370 is above the 20-day moving average (MA) of 3347.00, above the 50-day MA of 3260.50, and above the 200-day MA of 3064.17, indicating a bullish trend. The MACD of 26.39 indicates Positive momentum. The RSI at 54.51 is Neutral, neither overbought nor oversold. The STOCH value of 59.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2121.

Mixi Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2121	80 Outperform	¥221.23B	13.19	9.81%	3.86%	5.43%	156.35%
3765	76 Outperform	$148.19B	17.59	6.97%	2.19%	-17.33%	-28.64%
Sector *	66 Neutral	¥370.54B	13.79	2.32%	2.56%	5.41%	-19.09%
3932	66 Neutral	¥43.62B	26.50		3.64%	-1.33%	5.97%
3632	66 Neutral	¥91.70B	37.65	2.39%	3.22%	-14.96%	-72.07%
2432	64 Neutral	¥295.38B	12.31	10.56%	2.43%	19.94%	―
3903	48 Neutral	¥32.66B	16.07		―	-12.61%	-314.92%

Mixi Corporate Events

Mixi Enhances Governance with New Committee Chair Appointment

Mixi, Inc. has announced a change in the chair of its Nomination and Compensation Committee, appointing an outside director, Akihisa Fujita, to enhance corporate governance and ensure transparency in decision-making. This move is part of Mixi’s strategy to strengthen its governance structure, potentially impacting its operational integrity and stakeholder confidence.

Mixi, Inc. Announces Disposal of Treasury Shares for Executive Compensation

Mixi, Inc. announced the disposal of 133,600 treasury shares as restricted stock compensation to its directors and corporate officers, aiming to align their interests with shareholders and motivate them to enhance corporate value. This move, approved at the 24th Ordinary General Meeting of Shareholders, reflects Mixi’s strategy to incentivize its leadership team by tying compensation to stock performance, potentially impacting the company’s market positioning and stakeholder confidence.

MIXI Announces Shift to Takeover Bid for PointsBet Acquisition

MIXI, Inc., a company listed on the TSE Prime Market, has announced an update regarding its acquisition of PointsBet Holdings Limited, an Australian Securities Exchange-listed company. The acquisition, initially planned through a Scheme of Arrangement, faced a setback due to a voting error at PointsBet’s shareholder meeting. Consequently, MIXI has shifted to an off-market takeover bid to acquire all ordinary shares of PointsBet for $1.20 per share. The acquisition’s success depends on the acceptance of the offer by a majority of PointsBet’s shareholders and regulatory approvals.

MIXI, Inc. Advances in Acquisition of PointsBet Holdings

MIXI, Inc. has announced the approval of its acquisition of PointsBet Holdings Limited, an Australian company, through a Scheme of Arrangement. The acquisition, which is conditional upon court and regulatory approvals, is expected to impact MIXI’s operations and financial position, with further details to be disclosed upon completion.

Mixi, Inc. Advances Acquisition of PointsBet Holdings

Mixi, Inc. has announced the execution of a Bid Implementation Deed with PointsBet Holdings Limited to acquire the company through an off-market takeover bid. This strategic move is part of Mixi’s plan to expand its presence in the Australian market, contingent on the failure of a previously planned Scheme of Arrangement. The acquisition, valued at up to AUD398 million, will make PointsBet a subsidiary of Mixi, significantly enhancing Mixi’s market positioning and offering potential growth opportunities.

MIXI Updates on PointsBet Acquisition

MIXI, Inc. has announced an update regarding its acquisition of PointsBet Holdings Limited, an Australian company engaged in the betting business. MIXI has decided to increase the purchase price of PointsBet’s ordinary shares to ensure the acquisition’s success, with the transaction expected to be completed through a Scheme of Arrangement under Australia’s Corporations Act. The acquisition is contingent upon various approvals, and MIXI is prepared to consider alternative acquisition methods if necessary.

Mixi Announces Secondary Offering of Shares

Mixi, Inc. has announced a secondary offering of its shares, with Kenji Kasahara, a principal shareholder, selling 4,000,000 common shares to Mercury Leaf K.K. and Mercury Sprout K.K. This transaction, constituting over 5% of voting rights, is classified as an act equivalent to a tender offer under Japanese financial regulations. The sale, priced at 3,220 yen per share, totals 12,880,000,000 yen and is part of a strategic move to transfer shares in compliance with legal procedures.

Mixi, Inc. Increases Year-End Dividend to 65 Yen Per Share

Mixi, Inc. announced a decision to increase its year-end dividend per share to 65 yen, up from the previous forecast of 55 yen, reflecting a commitment to returning profits to shareholders. This move aligns with Mixi’s strategy to enhance corporate value through sustainable growth and investment, while adhering to a dividend policy targeting a payout ratio of 20% or a dividend on equity of 5%.

MIXI, Inc. to Retire 2.4 Million Treasury Shares

MIXI, Inc. announced the retirement of 2,400,000 common shares, representing 3.26% of its total outstanding shares, as part of a strategic move to optimize its capital structure. This decision, resolved in a Board of Directors meeting, will reduce the total number of outstanding shares to 71,330,850, potentially enhancing shareholder value and reflecting the company’s commitment to efficient capital management.

MIXI, Inc. Announces Board and Senior Officer Changes

MIXI, Inc. announced changes in its board of directors and senior corporate officers, with new appointments and reappointments set to be confirmed at the upcoming Ordinary General Meeting of Shareholders in June 2025. These changes are expected to influence the company’s strategic direction and operational management, potentially impacting its market positioning and stakeholder relations.

MIXI, Inc. Announces Share Repurchase Plan to Enhance Shareholder Value

MIXI, Inc. has announced a resolution to repurchase up to 4,750,000 of its common shares, representing 7.01% of its total outstanding shares, as part of its strategy to enhance shareholder returns and improve capital efficiency. The repurchase, valued at up to 9.5 billion yen, will be conducted through market purchases on the Tokyo Stock Exchange from May 15, 2025, to March 31, 2026, reflecting the company’s commitment to adapting its capital policy to changing business environments.

Mixi Reports Strong Financial Performance with Increased Dividends

Mixi, Inc. reported a significant improvement in its financial performance for the fiscal year ended March 31, 2025, with net sales increasing by 5.4% and profit attributable to owners of the parent rising by 148.5% compared to the previous year. The company also announced a higher dividend payout, reflecting its robust financial health and commitment to returning value to shareholders. Despite these positive results, Mixi forecasts a modest growth in net sales and a decline in profitability for the next fiscal year, indicating potential challenges ahead.

MIXI Dissolves Alliance with Decollte Holdings, Transfers Shares to IBJ

MIXI, Inc. has announced the dissolution of its capital and business alliance with Decollte Holdings Corporation, transferring a significant portion of its shares to IBJ, Inc. This strategic move involves the transfer of 1,353,800 shares, while MIXI retains a small stake in Decollte Holdings, indicating a continued cooperative relationship. The financial impact of this transaction on MIXI’s current fiscal year is expected to be minimal.