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Kushim,Inc.
(2345)
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Rating:41Neutral
Price Target:
¥85.00
▼(-61.01% Downside)
Action:Reiterated
Date:07/24/26
The score is held down primarily by weak financial performance—sharp revenue contraction, deep losses, and persistent negative free cash flow indicating elevated execution and funding risk. Technicals reinforce the downside, with price far below key moving averages and a strongly negative MACD. Valuation offers limited support because a negative P/E reflects ongoing losses and there is no dividend yield data.
Positive Factors
Improved leverage (zero debt)
Moving to zero reported debt in 2025 materially reduces near-term refinancing and interest-rate risk and increases financial flexibility. Over the next 2–6 months this gives management runway to restructure operations or pursue non-debt funding without immediate covenant pressure.
Negative Factors
Sharp revenue collapse
A one-year revenue collapse of this magnitude signals severe loss of customers, contracts, or product-market fit. This structural decline erodes operating leverage, damages market position, and makes a sustainable recovery difficult without major strategic changes or new demand drivers.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage (zero debt)
Moving to zero reported debt in 2025 materially reduces near-term refinancing and interest-rate risk and increases financial flexibility. Over the next 2–6 months this gives management runway to restructure operations or pursue non-debt funding without immediate covenant pressure.
Read all positive factors
Kushim,Inc. (2345) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.73B
Dividend YieldN/A
Average Volume (3M)647.44K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees7
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-33.44
Shares Outstanding18,608,732
10 Day Avg. Volume511,790
30 Day Avg. Volume647,436
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)10.29
Price to Sales (P/S)166.19
P/FCF Ratio-6.83
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
Kushim,Inc. Business Overview & Revenue Model
Company Description
Based in Tokyo, Japan, Kushim, Inc., established in 1997, is a multifaceted technology company engaged in blockchain solutions, comprehensive system engineering, and business incubation. Its blockchain segment focuses on developing innovative IT s...
Kushim,Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
38
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 59.82M | 26.55M | 1.61B | 962.80M | 1.62B | 1.62B |
| Gross Profit | 30.20M | 24.68M | 438.84M | -890.26M | 565.66M | 311.32M |
| EBITDA | -384.39M | -489.42M | -927.88M | -931.31M | 441.96M | -39.63M |
| Net Income | -603.91M | -1.37B | -1.96B | -2.74B | 619.02M | -362.70M |
Balance Sheet | ||||||
| Total Assets | 331.12M | 533.64M | 86.54B | 60.56B | 6.44B | 3.79B |
| Cash, Cash Equivalents and Short-Term Investments | 155.88M | 222.84M | 78.43B | 51.80B | 2.25B | 1.69B |
| Total Debt | 0.00 | 0.00 | 1.37B | 1.04B | 308.83M | 369.44M |
| Total Liabilities | 87.11M | 105.01M | 85.11B | 57.63B | 596.04M | 728.12M |
| Stockholders Equity | 244.01M | 428.63M | 1.43B | 2.93B | 5.85B | 3.07B |
Cash Flow | ||||||
| Free Cash Flow | -640.14M | -646.46M | -610.56M | -702.35M | -298.37M | -78.75M |
| Operating Cash Flow | -639.09M | -645.41M | -607.47M | -702.35M | -293.93M | -49.07M |
| Investing Cash Flow | -258.15M | -251.84M | -301.27M | 549.46M | 66.96M | -380.09M |
| Financing Cash Flow | 199.95M | 199.95M | 942.78M | -52.76M | 354.37M | 1.57B |
Kushim,Inc. Technical Analysis
Negative
218.00
Price Trends
137.46
Negative
188.42
Negative
208.90
Negative
Market Momentum
-11.49
Negative
38.60
Neutral
34.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2345, the sentiment is Negative. The current price of 218 is above the 20-day moving average (MA) of 98.65, above the 50-day MA of 137.46, and above the 200-day MA of 208.90, indicating a bearish trend. The MACD of -11.49 indicates Negative momentum. The RSI at 38.60 is Neutral, neither overbought nor oversold. The STOCH value of 34.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2345.
Kushim,Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥35.97B | 17.37 | ― | 1.64% | 32.07% | 349.54% | |
72 Outperform | ¥5.51B | 30.63 | ― | ― | 6.84% | -67.70% | |
68 Neutral | ¥6.46B | 14.42 | ― | ― | 23.42% | 457.78% | |
63 Neutral | ¥12.84B | 28.61 | ― | ― | 12.68% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
45 Neutral | ¥34.20B | 31.43 | ― | ― | 18.09% | -50.60% | |
41 Neutral | ¥1.73B | -2.78 | ― | ― | ― | ― |
* Technology Sector Average
JP:2345
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Kushim,Inc. Corporate Events
HODL1 Strikes Blockchain Alliance with Startale to Expand Ethereum-Based Web3 Business
Jun 8, 2026
HODL1, inc. has signed a memorandum of understanding with Singapore-based Startale Group Pte. Ltd., a Web3 technology firm backed by SBI Group and Sony Group, to collaborate on blockchain-related businesses. The alliance stems from shared experien...
HODL1 Inc. Positions Itself at the Intersection of Treasury Services and Web3 in Japan
May 7, 2026
HODL1 Inc., a Tokyo-based fintech company listed on the Tokyo Stock Exchange Standard Market, specializes in treasury management, treasury support services, and Web3 project consulting and development. Founded in 1997 and led by Hiroki Tahara, it ...
HODL1 Unveils Three-Year “HODL&BUIDL 2028” Plan to Rebuild Value on Ethereum and Blockchain Finance
May 1, 2026
HODL1, Inc. has approved a new three-year medium-term management plan, branded “HODLBUIDL 2028,” that seeks to restore corporate value and secure sustainable growth by combining long-term Ethereum holdings with blockchain infrastructur...
HODL1 to Raise Up to JPY 6.4 Billion via Third-Party Stock Acquisition Rights
May 1, 2026
HODL1, inc. has approved a third-party allotment of its 16th and 17th Series Stock Acquisition Rights, issuing 220,000 units that could convert into up to 22 million shares. The fundraising totals approximately JPY 6.43 billion, combining issuance...
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.