Kakaku.com Inc (JP:2371)
:2371
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Kakaku
(2371)
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Rating:77Outperform
Price Target:
¥3,753.00
▲(75.01% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by strong financial quality (growth, profitability, low leverage, and solid cash conversion). Technicals are supportive with strong momentum, but near-overbought signals add pullback risk. Valuation is acceptable but not cheap at a 21.8 P/E, with a modest 1.72% yield.
Positive Factors
Revenue growth acceleration
Sustained top-line expansion through 2026 indicates durable user demand and effective monetization across Kakaku and Tabelog. Persistent revenue growth supports reinvestment in product, marketing and partnerships, helping defend market position and underwriting long-term margin and scale advantages.
Negative Factors
Margin compression in 2026
Observed margin compression in 2026 suggests structural cost or mix pressures that could erode profitability and ROE if persistent. Lower margins reduce free cash flow leverage from revenue growth and may require efficiency actions or higher pricing to restore historical profitability levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth acceleration
Sustained top-line expansion through 2026 indicates durable user demand and effective monetization across Kakaku and Tabelog. Persistent revenue growth supports reinvestment in product, marketing and partnerships, helping defend market position and underwriting long-term margin and scale advantages.
Read all positive factors
Kakaku (2371) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥649.59B
Dividend Yield3.62%
Average Volume (3M)757.46K
Price to Earnings (P/E)34.8
Beta (1Y)0.32
Revenue Growth20.01%
EPS Growth-6.20%
CountryJP
Employees1,381
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)95.05
Shares Outstanding198,218,300
10 Day Avg. Volume840,230
30 Day Avg. Volume757,463
Financial Highlights & Ratios
PEG Ratio-3.52
Price to Book (P/B)6.31
Price to Sales (P/S)4.36
P/FCF Ratio16.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,000.00Price Target Upside39.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)116.89
Revenue Forecast (FY)¥109.04B
Kakaku Business Overview & Revenue Model
Company Description
Kakaku.com, Inc. is a Japan-based enterprise that delivers a wide array of online consumer services, encompassing purchase assistance, restaurant reviews, and various other informational and comparative platforms. Its flagship site, kakaku.com, al...
How the Company Makes Money
Kakaku.com primarily monetizes its platforms through advertising and performance-based marketing. On Kakaku.com, revenue is generated by charging retailers, manufacturers, and service providers for traffic and customer acquisition, including refer...
Kakaku Earnings Call Summary
Earnings Call Date:Aug 06, 2024
(Q1-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 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
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 94.13B | 78.44B | 66.93B | 60.82B | 51.72B |
| Gross Profit | 27.17B | 49.20B | 44.02B | 41.00B | 34.82B |
| EBITDA | 32.03B | 32.66B | 29.79B | 26.85B | 24.40B |
| Net Income | 18.80B | 20.03B | 18.09B | 16.15B | 14.29B |
Balance Sheet | |||||
| Total Assets | 92.47B | 93.50B | 83.31B | 78.58B | 70.48B |
| Cash, Cash Equivalents and Short-Term Investments | 46.47B | 50.86B | 37.70B | 36.45B | 34.30B |
| Total Debt | 3.19B | 4.25B | 5.18B | 5.96B | 6.60B |
| Total Liabilities | 27.30B | 31.37B | 31.62B | 30.42B | 22.31B |
| Stockholders Equity | 64.99B | 61.81B | 51.38B | 47.88B | 47.96B |
Cash Flow | |||||
| Free Cash Flow | 24.61B | 26.79B | 19.25B | 22.04B | 15.65B |
| Operating Cash Flow | 25.36B | 27.49B | 19.53B | 22.59B | 16.03B |
| Investing Cash Flow | -11.42B | -3.02B | -2.23B | -2.87B | -1.31B |
| Financing Cash Flow | -18.37B | -11.30B | -16.08B | -17.57B | -15.31B |
Kakaku Technical Analysis
Neutral
2144.50
Price Trends
2824.21
Positive
2362.44
Positive
2422.91
Positive
Market Momentum
128.94
Positive
61.72
Neutral
44.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2371, the sentiment is Neutral. The current price of 2144.5 is below the 20-day moving average (MA) of 3363.90, below the 50-day MA of 2824.21, and below the 200-day MA of 2422.91, indicating a neutral trend. The MACD of 128.94 indicates Positive momentum. The RSI at 61.72 is Neutral, neither overbought nor oversold. The STOCH value of 44.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥649.59B | 34.80 | 32.41% | 3.62% | 20.01% | -6.20% | |
75 Outperform | ¥13.30B | 26.07 | ― | ― | 15.73% | 19.43% | |
66 Neutral | ¥25.50B | 7.89 | 22.37% | 5.66% | -8.47% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | ¥32.01B | 41.54 | ― | ― | 27.05% | 495.56% | |
45 Neutral | ¥1.74B | 333.38 | ― | ― | -2.34% | ― | |
41 Neutral | ¥3.38B | -8.36 | ― | ― | 1.95% | -609.41% |
* Communication Services Sector Average
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Kakaku Corporate Events
Kamgras 1 Corrects Kakaku.com Tender Offer Notice After Regulatory Waiting Period Shortened
Jun 4, 2026
Kakaku.com disclosed that Kamgras 1 K.K., which launched a tender offer on May 13, 2026 for Kakaku.com’s common shares and share options, has filed a correction to its public notice of the commencement of the offer. The correction stems from...
Kamgras 1 K.K. Amends Tender Offer Disclosure for Kakaku.com Without Changing Terms
May 27, 2026
Kakaku.com, Inc., a leading Japanese internet services company known for its price comparison and online media platforms, is listed on the Tokyo Stock Exchange’s Prime Market and serves a broad consumer and advertiser base. The company is cu...
Kakaku.com Keeps Core Leadership Intact in Planned Board Reshuffle
May 20, 2026
Kakaku.com has announced proposed changes to its board of directors, to be formally decided at the company’s 29th Annual General Meeting of Shareholders scheduled for June 18, 2026. The slate maintains continuity in top management, with Kaor...
Kamgras 1 Corrects Tender Offer Notice for Kakaku.com After JFTC Clearance
May 19, 2026
Kakaku.com, Inc. announced that Kamgras 1 K.K., which is conducting a tender offer for Kakaku.com’s common shares and share options, has issued a correction to its previously published public notice of commencement of the tender offer. The c...
Kakaku.com Confirms Receipt of LY Corp Proposal on Capital Policy
May 14, 2026
Kakaku.com, Inc. announced that it has received a proposal from LY Corporation concerning the company’s capital policy and confirmed that it is currently reviewing the contents of this submission. The company stated that it will promptly dis...
EQT-Backed Kamgras 1 Launches Tender Offer for Kakaku.com
May 14, 2026
Kamgras 1 K.K., a special purpose vehicle indirectly owned by funds managed and advised by Sweden-based investment group EQT, has launched a tender offer to acquire all common shares and share options of Kakaku.com, excluding certain non-tendered ...
Kakaku.com Board Backs ¥3,000-Per-Share Take-Private Tender Offer
May 14, 2026
Kakaku.com’s board has endorsed a tender offer by Kamgras 1 K.K. to acquire all common shares and certain share acquisition rights, with the explicit aim of taking the company private and delisting it from the Tokyo Stock Exchange. The board...
Kakaku.com to Scrap Restricted Share Plan as It Backs Buyout Tender Offer
May 12, 2026
Kakaku.com, Inc. has decided to abolish its restricted shares remuneration plan for executive directors, contingent on the successful completion of a tender offer by Kamgras 1 K.K. that is expected to lead to the company’s delisting. The pla...
Kakaku.com Revises Restricted Share Terms for Executives in Tender Offer Scenarios
May 12, 2026
Kakaku.com has approved a partial amendment to its previously announced plan to dispose of treasury shares as restricted share remuneration for executive officers. The change centers on modifications to the restricted share allotment agreements, w...
Kakaku.com to Suspend Dividends as Tender Offer Paves Way for Delisting
May 12, 2026
Kakaku.com has decided not to distribute interim or year-end dividends for the fiscal periods with record dates of September 30, 2026, and March 31, 2027, setting the dividend per share at zero despite having previously paid 25 to 27 yen per share...
Kakaku.com Hits Record Revenue as It Doubles Down on HR and Tabelog Growth
May 8, 2026
Kakaku.com reported record FY26/3 revenue of 94.1 billion yen, up 20% year on year, driven by strong performance at its Tabelog restaurant platform and Kyujin Box HR service, both exceeding initial plans. Operating profit declined 7% to 27.2 billi...
Kakaku.com Balances Revenue Growth With Lower Profits and Normalized Dividends
May 8, 2026
Kakaku.com reported a 20 percent rise in revenue to 94.1 billion yen for the fiscal year ended March 31, 2026, but operating profit declined 7 percent and profit attributable to owners fell 6.1 percent, reflecting margin pressure despite top-line ...
Kakaku.com Denies Basis for Reported EQT Takeover Talks
Apr 23, 2026
Kakaku.com, Inc. stated that a Bloomberg report claiming Swedish investment firm EQT is considering acquiring the company was not based on any announcement from Kakaku.com. The company emphasized that, although it routinely considers various optio...
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...
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.