Mixi (2121) AI Stock Analysis

• Market Cap: ¥177.84B
• Dividend Yield: 4.61%
• Average Volume (3M): 167.95K
• Price to Earnings (P/E): 10.6
• Beta (1Y): 0.39
• Revenue Growth: 1.14%
• EPS Growth: 77.07%
• Country: JP
• Employees: 1,645
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 20.92
• Shares Outstanding: 71,330,850
• 10 Day Avg. Volume: 160,560
• 30 Day Avg. Volume: 167,946
• PEG Ratio: 0.08
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 1.49
• P/FCF Ratio: 10.98
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ¥2,931.00 ▲(8.00% Upside)

Mixi's overall stock score is driven by its strong financial health and attractive valuation, which are offset by bearish technical indicators. The company's low leverage and high dividend yield are significant strengths, but recent declines in revenue growth and free cash flow, along with weak market momentum, present challenges. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Financial Stability

Mixi's low leverage indicates strong financial stability, reducing risk and providing a solid foundation for future growth and investment.

Revenue Streams

Diverse revenue streams from gaming and advertising provide Mixi with multiple growth avenues and reduce dependency on a single income source.

Operational Efficiency

Strong operational efficiency, as indicated by healthy EBIT and EBITDA margins, supports sustainable profitability and competitive advantage.

Negative Factors

Revenue Growth Decline

A decline in revenue growth can signal potential challenges in market expansion and product adoption, impacting long-term business momentum.

Profitability Pressure

Decreasing net profit margins indicate rising costs or competitive pressures, which may affect Mixi's ability to maintain profitability.

Cash Flow Challenges

Declining free cash flow growth could limit Mixi's ability to reinvest in business operations and pursue strategic opportunities.

Mixi Business Overview & Revenue Model

Company Description

Mixi (2121) is a leading Japanese company primarily operating in the social networking and gaming sectors. Established in the early 2000s, Mixi originally gained popularity with its social networking service, which allows users to connect and share content. Over the years, the company expanded its portfolio to include mobile and online gaming, developing popular titles that leverage its extensive user base. Mixi's focus on community engagement and interactive experiences has positioned it as a key player in the digital entertainment landscape in Japan.

How the Company Makes Money

Mixi generates revenue through multiple streams, primarily from its gaming sector, which includes in-app purchases and premium game sales. The company has developed several successful mobile games that have attracted millions of users, contributing significantly to its earnings. Additionally, Mixi monetizes its social networking platform through advertising, offering targeted ad placements to businesses looking to reach its user demographic. The company also engages in strategic partnerships with other gaming developers and brands, enhancing its content offerings and expanding its reach, which further bolsters its revenue potential.

Mixi Financial Statement Overview

Summary

Mixi demonstrates strong financial performance with impressive revenue growth and profitability metrics. The balance sheet is robust with low leverage and a strong equity position. While cash flow generation has seen some decline, the company maintains sufficient cash coverage of its earnings, indicating overall financial health and stability.

Income Statement

Mixi shows strong revenue growth with a TTM increase of 79.8% compared to the previous period. The company maintains healthy profitability with a gross profit margin of 68.48% and a net profit margin of 11.37%. EBIT and EBITDA margins are also robust at 17.60% and 20.76%, respectively, indicating efficient operations and cost management.

Balance Sheet

The balance sheet is solid with a low debt-to-equity ratio of 0.07, reflecting conservative leverage. Return on equity is decent at 10.06%, showing effective use of equity to generate profits. The equity ratio stands at 82.14%, indicating a strong equity base relative to total assets.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 43.13% in the TTM period, which could be a concern. However, the operating cash flow to net income ratio is healthy at 0.91, and free cash flow covers net income adequately at a ratio of 1.0, suggesting good cash generation relative to earnings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	153.46B	154.85B	146.87B	146.87B	118.10B	119.32B
Gross Profit	105.32B	106.04B	102.63B	105.12B	88.58B	93.31B
EBITDA	31.11B	32.03B	17.00B	15.97B	20.36B	27.41B
Net Income	17.28B	17.60B	7.08B	5.16B	10.26B	15.69B
Balance Sheet
Total Assets	247.10B	225.54B	207.34B	222.32B	218.06B	226.36B
Cash, Cash Equivalents and Short-Term Investments	122.58B	144.04B	129.53B	138.44B	133.03B	149.81B
Total Debt	34.04B	12.45B	7.43B	7.79B	8.12B	8.93B
Total Liabilities	71.02B	44.21B	31.61B	38.86B	32.00B	36.77B
Stockholders Equity	175.10B	180.06B	174.52B	182.13B	184.64B	189.53B
Cash Flow
Free Cash Flow	14.57B	20.99B	5.72B	13.20B	-796.00M	29.87B
Operating Cash Flow	15.65B	27.48B	9.18B	15.75B	3.10B	34.67B
Investing Cash Flow	-37.80B	-14.49B	-6.85B	-7.35B	-17.89B	-7.16B
Financing Cash Flow	3.81B	-10.38B	-15.73B	-8.33B	-16.63B	-3.14B

Mixi Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2714.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2121, the sentiment is Negative. The current price of 2714 is below the 20-day moving average (MA) of 2763.75, below the 50-day MA of 2930.72, and below the 200-day MA of 3153.71, indicating a bearish trend. The MACD of -67.49 indicates Negative momentum. The RSI at 34.62 is Neutral, neither overbought nor oversold. The STOCH value of 16.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2121.

Mixi Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2432	78 Outperform	¥285.44B	6.51	17.98%	2.52%	34.16%	―
2121	66 Neutral	¥177.84B	10.65	9.54%	4.61%	1.14%	77.07%
3765	64 Neutral	¥131.50B	30.71	3.38%	2.38%	-3.12%	-63.07%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
3932	60 Neutral	¥39.07B	18.70	―	4.06%	-15.30%	39.61%
3632	54 Neutral	¥72.36B	17.67	4.14%	2.09%	-2.61%	116.80%
3903	46 Neutral	¥17.75B	6.07	―	―	-37.68%	―

Mixi Corporate Events

MIXI Revises FY2026 Financial Forecast Upward Amid Strategic Acquisitions

MIXI, Inc. has revised its full-year financial forecast for FY2026, increasing its net sales projection due to the acquisition of PointsBet and strong performance in its sports and investment segments. However, the digital entertainment segment saw a downward revision in sales due to a decrease in MONSTER STRIKE’s monthly active users. Despite these changes, the company’s operating income remains unchanged, and its dividend policy is maintained.

Mixi, Inc. Reports Decline in Financial Performance but Anticipates Sales Growth

Mixi, Inc. reported a decline in its financial performance for the six months ended September 30, 2025, with net sales dropping by 2% and significant decreases in EBITDA and operating income compared to the previous year. Despite these challenges, the company has revised its financial forecast for the fiscal year ending March 31, 2026, reflecting an 8.5% increase in net sales, though it anticipates declines in other financial metrics. The company’s strategic moves, including the inclusion of six new companies in its consolidation scope, indicate a potential shift in its operational focus and market strategy.

Mixi Completes Takeover Bid for PointsBet Holdings

Mixi, Inc. announced the expiration of its takeover bid for PointsBet Holdings Limited, resulting in the acquisition of a 66.4% stake in the Australian company. This strategic move, involving an investment of AUD 289 million, positions Mixi to expand its influence in the digital entertainment sector, with further details on the financial impact to be disclosed soon.