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Interspace Co., Ltd.
(2122)
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Rating:66Neutral
Price Target:
¥1,507.00
▲(31.16% Upside)
Action:Reiterated
Date:03/31/26
The score is primarily supported by a very low-risk balance sheet (near-zero debt) and reasonable valuation (P/E ~12.9 with a ~2.33% dividend yield). Offsetting this, profitability and cash generation have been volatile—especially the sharp cash flow drop in 2025—and technical signals are neutral-to-weak with the price below key short/medium-term moving averages.
Positive Factors
Conservative balance sheet (near-zero debt)
Near-zero debt materially reduces financial risk and gives management flexibility to fund operations, weather downturns, or pursue strategic investments without reliance on external financing. This durability supports long-term solvency and optionality even if earnings remain uneven.
Negative Factors
Volatile cash generation
Irregular operating and free cash flow, including a sharp 2025 drop, reduces predictability for reinvestment, dividends, and M&A. Persistent volatility implies working-capital swings or timing issues with partners, raising execution risk for long-term capital allocation decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (near-zero debt)
Near-zero debt materially reduces financial risk and gives management flexibility to fund operations, weather downturns, or pursue strategic investments without reliance on external financing. This durability supports long-term solvency and optionality even if earnings remain uneven.
Read all positive factors
Interspace Co., Ltd. (2122) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥9.46B
Dividend Yield2.61%
Average Volume (3M)29.95K
Price to Earnings (P/E)22.6
Beta (1Y)0.16
Revenue Growth11.29%
EPS GrowthN/A
CountryJP
Employees405
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)61.37
Shares Outstanding6,967,200
10 Day Avg. Volume7,440
30 Day Avg. Volume29,946
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.38
Price to Sales (P/S)0.88
P/FCF Ratio72.55
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)N/A
Revenue Forecast (FY)N/A
Interspace Co., Ltd. Business Overview & Revenue Model
Company Description
Operating across Japan, Indonesia, Thailand, Vietnam, Singapore, and Malaysia, Interspace Co.,Ltd. specializes in delivering internet advertising and media solutions. Its offerings encompass ACCESSTRADE, a leading affiliate marketing platform, alo...
How the Company Makes Money
Interspace primarily makes money through performance-based online advertising and the operation of its own digital media/services. A key revenue stream is affiliate/performance marketing: advertisers pay for measurable outcomes (e.g., purchases, a...
Interspace Co., Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
86
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.33B | 8.85B | 7.91B | 7.28B | 7.12B | 23.14B |
| Gross Profit | 7.74B | 7.31B | 6.36B | 5.94B | 5.95B | 5.08B |
| EBITDA | 850.24M | 610.84M | 618.19M | 1.14B | 1.29B | 864.02M |
| Net Income | 385.26M | 206.00M | 59.52M | 585.98M | 563.46M | 427.88M |
Balance Sheet | ||||||
| Total Assets | 12.18B | 11.18B | 11.23B | 11.09B | 11.08B | 10.31B |
| Cash, Cash Equivalents and Short-Term Investments | 5.87B | 5.59B | 5.95B | 5.63B | 5.76B | 5.46B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 6.43B | 5.55B | 5.59B | 5.31B | 5.72B | 4.85B |
| Stockholders Equity | 5.74B | 5.64B | 5.64B | 5.78B | 5.36B | 5.45B |
Cash Flow | ||||||
| Free Cash Flow | 106.84M | 106.84M | 528.69M | 411.14M | 1.16B | 1.34B |
| Operating Cash Flow | 169.63M | 169.63M | 836.88M | 512.55M | 1.18B | 1.37B |
| Investing Cash Flow | -333.69M | -333.69M | -332.73M | -482.46M | -263.64M | -129.90M |
| Financing Cash Flow | -187.93M | -187.93M | -156.58M | -156.80M | -657.85M | -135.59M |
Interspace Co., Ltd. Technical Analysis
Positive
1149.00
Price Trends
1286.60
Positive
1282.71
Positive
1250.77
Positive
Market Momentum
34.26
Negative
72.07
Negative
92.16
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2122, the sentiment is Positive. The current price of 1149 is below the 20-day moving average (MA) of 1331.15, below the 50-day MA of 1286.60, and below the 200-day MA of 1250.77, indicating a bullish trend. The MACD of 34.26 indicates Negative momentum. The RSI at 72.07 is Negative, neither overbought nor oversold. The STOCH value of 92.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2122.
Interspace Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥29.71B | 11.84 | ― | 5.35% | 4.88% | -5.77% | |
66 Neutral | ¥9.46B | 22.58 | ― | 2.61% | 11.29% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | ¥17.03B | 6.95 | ― | 2.01% | -2.12% | -14.54% | |
54 Neutral | ¥15.06B | -12.94 | ― | 7.85% | -38.96% | -127.02% | |
53 Neutral | ¥12.72B | 5.01 | ― | 2.19% | 14.95% | 284.56% | |
43 Neutral | ¥9.65B | 6.46 | ― | ― | 4.27% | 3453.18% |
* Communication Services Sector Average
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Interspace Co., Ltd. Corporate Events
Interspace Posts Strong Earnings Rebound and Confirms Dividend, Growth Outlook
May 13, 2026
Interspace Co., Ltd. reported consolidated net sales of ¥4,945 million for the six months ended March 31, 2026, up 10.7% year on year, with operating profit surging 49.3% to ¥436 million and profit attributable to owners of parent more t...
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.