Fonfun Corporation (2323) AI Stock Analysis

• Market Cap: ¥8.39B
• Dividend Yield: N/A
• Average Volume (3M): 38.93K
• Price to Earnings (P/E): 19.5
• Beta (1Y): 0.75
• Revenue Growth: 66.41%
• EPS Growth: 147.93%
• Country: JP
• Employees: 28
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 6.06
• Shares Outstanding: 21,294,120
• 10 Day Avg. Volume: 34,370
• 30 Day Avg. Volume: 38,926
• PEG Ratio: 0.11
• Price to Book (P/B): 4.86
• Price to Sales (P/S): 3.25
• P/FCF Ratio: 0.00
• 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: 61 Neutral
• Price Target: ¥417.00 ▲(21.57% Upside)
• Action: Reiterated
• Date: 05/17/26

Positive Factors

Revenue growth & profitability

Sustained high revenue growth and the transition from a 2022 net loss to consistent net income through 2024–2026 indicate improving business model economics and operating leverage. This durable profitability shift supports reinvestment, product development, and longer-term scaling of revenues.

Negative Factors

Rising leverage

A sharp increase in leverage raises financial risk: higher interest costs and fixed obligations can strain margins if growth slows. Elevated debt-to-equity reduces financial flexibility for M&A or R&D and increases vulnerability to macro shocks over the next several quarters.

Fonfun Corporation Business Overview & Revenue Model

Company Description

fonfun corporation provides content services for internet-compatible mobile phones. It offers Remote mail (personal version), an email service; Remote mail (corporate service), a service to view and send and receive company emails from mobile phon...

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fonfun corporation provides content services for internet-compatible mobile phones. It offers Remote mail (personal version), an email service; Remote mail (corporate service), a service to view and send and receive company emails from mobile phon...

How the Company Makes Money

Fonfun Corporation generates revenue primarily through its subscription-based services and the sale of mobile applications and digital communication tools. The company earns income from licensing fees, user subscriptions, and fees for value-added ...

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Fonfun Corporation generates revenue primarily through its subscription-based services and the sale of mobile applications and digital communication tools. The company earns income from licensing fees, user subscriptions, and fees for value-added ...

Fonfun Corporation Financial Statement Overview

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

• Technical Analysis Sentiment: Positive
• Last Price: 343.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2323, the sentiment is Positive. The current price of 343 is below the 20-day moving average (MA) of 374.10, below the 50-day MA of 357.28, and above the 200-day MA of 309.22, indicating a bullish trend. The MACD of 13.20 indicates Negative momentum. The RSI at 54.55 is Neutral, neither overbought nor oversold. The STOCH value of 58.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2323.

Fonfun Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3676	64 Neutral	¥16.14B	14.07	―	2.36%	-2.06%	87.60%
4442	63 Neutral	¥8.60B	14.04	―	0.95%	10.61%	-1.13%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
2323	61 Neutral	¥8.39B	19.53	―	―	66.41%	147.93%
3657	45 Neutral	¥10.64B	-3.06	―	5.03%	-6.49%	-402.49%
4813	44 Neutral	¥19.63B	-5.47	―	―	20.62%	36.84%
5255	44 Neutral	¥6.34B	-44.13	―	―	-10.02%	98.58%