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Fonfun Corporation
(2323)
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Rating:61Neutral
Price Target:
¥285.00
▼(-16.91% Downside)
Action:Reiterated
Date:05/17/26
The score is primarily driven by improving profitability and strong revenue growth, tempered by rising leverage and concerns about recent free-cash-flow visibility/quality. Technical signals are currently soft (negative MACD and below key moving averages), while valuation is supportive with a reasonable P/E.
Positive Factors
Strong revenue growth
Revenue scaled sharply into 2026 (about +66% YoY), showing durable customer demand and successful market penetration. Sustained high top-line growth improves operating leverage potential, funds reinvestment in products and sales capacity, and supports longer-term margin expansion if execution continues.
Negative Factors
Rising leverage
Total debt rose materially by 2026, lifting debt-to-equity to about 1.0x in 2025 from ~0.4x the prior year. Higher leverage increases interest and refinancing risk, reduces financial flexibility for capex or acquisitions, and makes the company more vulnerable to growth or margin slowdowns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Revenue scaled sharply into 2026 (about +66% YoY), showing durable customer demand and successful market penetration. Sustained high top-line growth improves operating leverage potential, funds reinvestment in products and sales capacity, and supports longer-term margin expansion if execution continues.
Read all positive factors
Fonfun Corporation (2323) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥5.74B
Dividend YieldN/A
Average Volume (3M)38.93K
Price to Earnings (P/E)12.9
Beta (1Y)0.83
Revenue Growth66.41%
EPS Growth147.94%
CountryJP
Employees28
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)6.06
Shares Outstanding21,294,120
10 Day Avg. Volume34,370
30 Day Avg. Volume38,926
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)4.86
Price to Sales (P/S)3.25
P/FCF Ratio0.00
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
Fonfun Corporation Business Overview & Revenue Model
Company Description
Fonfun Corporation provides a comprehensive suite of internet-based services, primarily designed for mobile platforms. Their diverse offerings cater to various business and personal needs, encompassing: Remote Access and Productivity Tools: Remote...
Fonfun Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 680.81M | 2.11B | 1.27B | 699.74M | 393.09M | 556.32M |
| Gross Profit | 391.76M | 832.65M | 489.66M | 407.59M | 217.74M | 357.00M |
| EBITDA | 160.07M | 400.42M | 159.88M | 91.89M | 58.63M | 27.05M |
| Net Income | 121.32M | 424.80M | 169.35M | 68.15M | 18.91M | -17.11M |
Balance Sheet | ||||||
| Total Assets | 952.60M | 3.29B | 2.15B | 1.01B | 939.38M | 950.09M |
| Cash, Cash Equivalents and Short-Term Investments | 568.78M | 830.06M | 711.06M | 677.93M | 533.21M | 614.27M |
| Total Debt | 172.73M | 1.34B | 976.14M | 249.28M | 327.44M | 315.21M |
| Total Liabilities | 291.69M | 1.87B | 1.19B | 386.79M | 389.35M | 396.88M |
| Stockholders Equity | 660.91M | 1.41B | 957.32M | 621.73M | 550.03M | 553.20M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 0.00 | 185.25M | 173.76M | 105.47M | 24.74M |
| Operating Cash Flow | 0.00 | 251.18M | 190.53M | 175.98M | 108.33M | 31.53M |
| Investing Cash Flow | 0.00 | -472.05M | -1.22B | 288.05M | -164.93M | -133.86M |
| Financing Cash Flow | 0.00 | 339.87M | 875.50M | -89.27M | 26.83M | 74.15M |
Fonfun Corporation Technical Analysis
Negative
343.00
Price Trends
336.52
Negative
348.02
Negative
320.76
Negative
Market Momentum
-24.38
Negative
40.35
Neutral
41.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2323, the sentiment is Negative. The current price of 343 is above the 20-day moving average (MA) of 282.70, above the 50-day MA of 336.52, and above the 200-day MA of 320.76, indicating a bearish trend. The MACD of -24.38 indicates Negative momentum. The RSI at 40.35 is Neutral, neither overbought nor oversold. The STOCH value of 41.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2323.
Fonfun Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ¥16.20B | 14.28 | ― | 2.36% | -2.06% | 87.62% | |
63 Neutral | ¥8.56B | 13.68 | ― | 0.95% | 10.61% | -0.98% | |
61 Neutral | ¥5.74B | 12.90 | ― | ― | 66.41% | 147.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | ¥11.77B | -4.35 | ― | 5.03% | -10.76% | -199.88% | |
41 Neutral | ¥5.17B | -18.10 | ― | ― | -10.02% | 98.58% | |
40 Underperform | ¥13.55B | -6.26 | ― | ― | 16.67% | 67.75% |
* General Sector Average
JP:2323
Fonfun Corporation
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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.