Kakaku.com Inc (JP:2371)
:2371
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Kakaku
(2371)
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Rating:75Outperform
Price Target:
¥2,239.00
▲(12.51% Upside)
Action:ReiteratedDate:04/11/26
The score is driven primarily by strong financial performance (profitability, low leverage, and high cash conversion), partially offset by recent free cash flow decline and moderating margins. Technicals are mixed with some overbought signals, while valuation is reasonable but not cheap given the P/E despite a supportive dividend yield.
Positive Factors
High net margins
Kakaku's sustained net margins near 21% reflect durable monetization of high-intent user traffic across Kakaku.com and Tabelog. Strong margins support recurring cash generation, fund reinvestment in product and marketing, and indicate pricing power in advertising and lead-generation channels.
Negative Factors
Recent FCF decline
A ~9% YoY drop in trailing free cash flow signals reduced cash cushioning and emerging volatility in cash generation. If sustained, this weakens the firm’s ability to fund discretionary spending, maintain payout ratios, or absorb cyclical ad-market shocks without cutting investment.
Read all positive and negative factors
Positive Factors
Negative Factors
High net margins
Kakaku's sustained net margins near 21% reflect durable monetization of high-intent user traffic across Kakaku.com and Tabelog. Strong margins support recurring cash generation, fund reinvestment in product and marketing, and indicate pricing power in advertising and lead-generation channels.
Read all positive factors
Kakaku (2371) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥390.89B
Dividend Yield3.62%
Average Volume (3M)757.46K
Price to Earnings (P/E)22.9
Beta (1Y)0.35
Revenue Growth20.98%
EPS Growth0.48%
CountryJP
Employees1,381
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)25.28
Shares Outstanding198,218,300
10 Day Avg. Volume840,230
30 Day Avg. Volume757,463
Financial Highlights & Ratios
PEG Ratio1.75
Price to Book (P/B)6.82
Price to Sales (P/S)5.38
P/FCF Ratio15.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,152.72Price Target Upside8.18% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)117.99
Revenue Forecast (FY)¥110.51B
Kakaku Business Overview & Revenue Model
Company Description
Kakaku.com, Inc. provides purchase support, restaurant review, and other services in Japan. The company operates kakaku.com, a purchasing support site that compare prices of products and services, such as computers, home appliances, fashion, inter...
How the Company Makes Money
Kakaku.com primarily generates revenue by monetizing user traffic across its major platforms through advertising, lead generation, and transaction-related fees. On Kakaku.com (price comparison), it earns from advertising placements and promotional...
Kakaku Earnings Call Summary
Earnings Call Date:Aug 06, 2024
(Q1-2025)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Neutral
The earnings call highlights strong revenue and profit growth, particularly in Tabelog and Kyujin Box segments, alongside improvements in service performance and user growth. However, it also addresses challenges in the advertising business, lower-than-expected performance in the Tabelog inbound reservation service, and ongoing declines in the Shopping business.Positive Updates
Strong Revenue and Profit Growth
Revenue for the first quarter was ¥17.713 billion, up 15.3% year-over-year, and operating profit was ¥6.977 billion, up 34.9% year-over-year.
Negative Updates
Challenges in Advertising Business
The Advertising business segment continues to face difficulties with a steady decline in revenue.
Read all updates
Q1-2025 Updates
Positive
Negative
Strong Revenue and Profit Growth
Revenue for the first quarter was ¥17.713 billion, up 15.3% year-over-year, and operating profit was ¥6.977 billion, up 34.9% year-over-year.
Read all positive updates
Company Guidance
During the first quarter of the fiscal year ending March 31, 2025, Kakaku.com reported a revenue of ¥17.713 billion, marking a 15.3% year-over-year increase, and an operating profit of ¥6.977 billion, up 34.9% year-over-year. The company's revenue and operating profit growth rates align with their planned objectives, resulting in no change to the full-year earnings forecast. Kakaku.com experienced an 8.4% year-over-year revenue growth and an 11.4% increase in segment income, driven by strong performance in the services business, which grew 21.6% year-over-year. Tabelog reported a 19.2% growth in revenue and a 31.8% rise in segment income, supported by the expansion of restaurant advertising and reservation services. Kyujin Box saw a 36.3% increase in revenue, although its segment margins declined due to higher commission expenses. Meanwhile, the Incubation segment experienced a 1.8% decrease in revenue but a 49.3% increase in segment income, with a strategic focus on new businesses and M&A activities to foster growth.Kakaku Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.64B | 78.44B | 66.93B | 60.82B | 51.72B | 51.08B |
| Gross Profit | 28.17B | 49.20B | 44.02B | 41.00B | 34.82B | 33.58B |
| EBITDA | 32.44B | 33.70B | 29.48B | 27.61B | 22.63B | 21.98B |
| Net Income | 19.30B | 20.03B | 18.09B | 16.15B | 14.29B | 11.76B |
Balance Sheet | ||||||
| Total Assets | 84.26B | 93.50B | 83.31B | 78.58B | 70.48B | 70.96B |
| Cash, Cash Equivalents and Short-Term Investments | 36.79B | 50.86B | 37.70B | 36.45B | 34.30B | 34.89B |
| Total Debt | 3.71B | 4.25B | 5.18B | 5.96B | 6.60B | 8.26B |
| Total Liabilities | 23.65B | 31.37B | 31.62B | 30.42B | 22.31B | 23.82B |
| Stockholders Equity | 60.41B | 61.81B | 51.38B | 47.88B | 47.96B | 46.88B |
Cash Flow | ||||||
| Free Cash Flow | 22.79B | 26.79B | 19.25B | 22.04B | 15.65B | 16.67B |
| Operating Cash Flow | 23.33B | 27.49B | 19.53B | 22.59B | 16.03B | 17.29B |
| Investing Cash Flow | -11.36B | -3.02B | -2.23B | -2.87B | -1.31B | -2.18B |
| Financing Cash Flow | -18.16B | -11.30B | -16.08B | -17.57B | -15.31B | -9.72B |
Kakaku Technical Analysis
Negative
1990.00
Price Trends
1887.22
Positive
2083.32
Negative
2349.02
Negative
Market Momentum
83.97
Negative
47.86
Neutral
60.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2371, the sentiment is Negative. The current price of 1990 is below the 20-day moving average (MA) of 2036.23, above the 50-day MA of 1887.22, and below the 200-day MA of 2349.02, indicating a neutral trend. The MACD of 83.97 indicates Negative momentum. The RSI at 47.86 is Neutral, neither overbought nor oversold. The STOCH value of 60.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2371.
Kakaku Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥390.89B | 22.87 | 32.41% | 3.62% | 20.98% | 0.48% | |
72 Outperform | ¥25.63B | 7.57 | 22.37% | 5.66% | -18.39% | ― | |
65 Neutral | ¥8.05B | 18.99 | ― | ― | 3.38% | 47.24% | |
63 Neutral | ¥49.51B | 58.36 | ― | ― | 22.37% | 655.34% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
41 Neutral | ¥3.52B | -15.74 | ― | ― | -3.79% | -272.95% | |
40 Underperform | ¥2.20B | 83.90 | ― | ― | 4.36% | ― |
* Communication Services Sector Average
JP:2371
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Kakaku Corporate Events
Kakaku.com Corrects Disclosure on Change of Major Shareholder
Mar 18, 2026
Kakaku.com, Inc. announced it has corrected a previously disclosed notice regarding a change in a major shareholder, clarifying inaccuracies in the reported submission dates of large shareholding reports. The company stated that the number of voti...
Kakaku.com Reports Significant Stake Increase by Oasis Management
Mar 18, 2026
Kakaku.com has disclosed a change in its major shareholder following a large shareholding report filed with the Kanto Local Finance Bureau. Oasis Management Company Ltd., an asset management firm based in the Cayman Islands, significantly increase...
Kakaku.com Reshapes Organization and Leadership to Boost AI and Governance
Feb 18, 2026
Kakaku.com will reorganize its structure from April 1, 2026, renaming Kyujin Box Company as HR Company after integrating the engage recruitment business, and creating a dedicated AI Product Development Department to drive AI use across its operati...
Kakaku balances FY26 growth drive with targeted profit pullback
Feb 4, 2026
Kakaku.com reported FY26/3 Q3 revenue of ¥24 billion and operating profit of ¥7.3 billion, with double-digit gains at Tabelog offsetting weaker personal finance performance and investment-driven margin pressure at Kyujin Box. Management ...
Kakaku.com Grows Sales but Faces Margin Pressure Ahead of FY2026 Close
Feb 4, 2026
Kakaku.com’s nine-month revenue rose 21.5% to ¥68.9 billion on continuing expansion of its comparison and media platforms, but operating profit slid 4.2% as the mix shift toward newer services and consolidated changes weighed on margins...
Kakaku.com Director Passes Away; Board Structure Remains Compliant
Jan 28, 2026
Kakaku.com, Inc. announced that board director Daisuke Tominaga passed away on January 25, 2026, resulting in his resignation from the board effective the same day, with the company expressing gratitude for his contributions and offering condolenc...
Kakaku.com Finalizes Deal to Acquire en Inc.’s Engage Recruitment Business
Jan 23, 2026
Kakaku.com has signed a definitive Share Purchase Agreement to acquire a majority stake in engage Inc., a newly established company that will take over en Inc.’s “engage” job posting site and recruitment support tool business via...
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.
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