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KLab Inc.
(3656)
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Rating:42Neutral
Price Target:
¥231.00
▼(-38.89% Downside)
Action:Reiterated
Date:07/07/26
The score is driven primarily by weak financial performance—multi-year revenue decline, compressed margins, large losses, and persistent cash burn—partly mitigated by low leverage and a still-supportive equity base. Technicals add only modest support (short-term bounce but broader downtrend), while valuation metrics provide limited comfort given the negative P/E and lack of dividend yield.
Positive Factors
Balance sheet strength
Very low leverage and a sizable equity base reduce near-term solvency risk and give the company financial flexibility. That cushion can fund continued live-operations, portfolio refreshes, or bridge funding while product performance is stabilized, supporting longer-term survival.
Negative Factors
Multi-year revenue decline
A sustained revenue downtrend erodes core earnings power and indicates weaker player engagement or fewer hit titles. Over several years this reduces scale benefits, pressures unit economics, and makes reinvestment in new titles more difficult, increasing the chance of continued structural decline absent product turnarounds.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Very low leverage and a sizable equity base reduce near-term solvency risk and give the company financial flexibility. That cushion can fund continued live-operations, portfolio refreshes, or bridge funding while product performance is stabilized, supporting longer-term survival.
Read all positive factors
KLab Inc. (3656) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥17.38B
Dividend YieldN/A
Average Volume (3M)13.13M
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue Growth-17.15%
EPS Growth-70.83%
CountryJP
Employees322
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-75.87
Shares Outstanding83,792,600
10 Day Avg. Volume5,041,080
30 Day Avg. Volume13,126,573
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)2.08
Price to Sales (P/S)3.13
P/FCF Ratio-10.82
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)154.64
Revenue Forecast (FY)¥31.27B
KLab Inc. Business Overview & Revenue Model
Company Description
KLab Inc., an international mobile game company, operates with its subsidiaries to plan, create, manage, and release digital games for mobile devices across the globe. Its extensive portfolio features popular titles such as BLEACH Brave Souls, BLE...
How the Company Makes Money
KLab primarily makes money from the operation of free-to-play (F2P) mobile games. Revenue is mainly generated through in-game purchases (microtransactions), where players buy virtual currency, items, character/loot draws (gacha-style mechanics in ...
KLab Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
58
Neutral
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.93B | 6.86B | 8.31B | 10.72B | 16.88B | 23.90B |
| Gross Profit | 743.81M | 830.54M | 1.13B | 1.75B | 3.02B | 2.72B |
| EBITDA | -1.41B | -1.24B | -1.15B | -801.92M | -223.09M | -357.18M |
| Net Income | -4.21B | -4.18B | -2.78B | -1.82B | -541.92M | -3.47B |
Balance Sheet | ||||||
| Total Assets | 12.89B | 13.27B | 16.11B | 17.96B | 20.97B | 18.81B |
| Cash, Cash Equivalents and Short-Term Investments | 3.83B | 5.21B | 1.61B | 2.21B | 6.02B | 4.75B |
| Total Debt | 92.69M | 332.28M | 2.22B | 3.18B | 3.51B | 1.00B |
| Total Liabilities | 2.41B | 2.97B | 5.74B | 6.25B | 7.82B | 6.00B |
| Stockholders Equity | 10.48B | 10.30B | 10.37B | 11.71B | 13.15B | 12.81B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.98B | -138.22M | -1.53B | 0.00 | 0.00 |
| Operating Cash Flow | 0.00 | -1.80B | -138.22M | -1.53B | -186.97M | -1.28B |
| Investing Cash Flow | 0.00 | 2.48B | -1.05B | -2.33B | -1.36B | -1.93B |
| Financing Cash Flow | 0.00 | 2.92B | 555.11M | -66.94M | 3.54B | -1.04B |
KLab Inc. Technical Analysis
Negative
378.00
Price Trends
238.52
Negative
287.84
Negative
283.64
Negative
Market Momentum
-9.81
Negative
45.42
Neutral
35.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3656, the sentiment is Negative. The current price of 378 is above the 20-day moving average (MA) of 216.30, above the 50-day MA of 238.52, and above the 200-day MA of 283.64, indicating a bearish trend. The MACD of -9.81 indicates Negative momentum. The RSI at 45.42 is Neutral, neither overbought nor oversold. The STOCH value of 35.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3656.
KLab Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥42.20B | 7.44 | ― | 4.06% | 9.32% | 243.27% | |
70 Outperform | ¥183.83B | 11.20 | 10.05% | 4.61% | 10.67% | 2.02% | |
69 Neutral | ¥281.74B | 14.69 | 17.98% | 2.52% | -9.94% | -21.11% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | ¥70.92B | 30.56 | 1.59% | 2.09% | -8.43% | -5.44% | |
54 Neutral | ¥12.67B | 8.51 | ― | ― | 2.70% | -30.63% | |
42 Neutral | ¥17.38B | -2.78 | ― | ― | -17.15% | -70.83% |
* Communication Services Sector Average
JP:3656
KLab Inc.
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KLab Inc. Corporate Events
KLab details June Bitcoin buys and AI-driven “Dual Gold Treasury” holdings
Jul 1, 2026
KLab Inc. reported its June 2026 purchases and holdings under its “Dual Gold Treasury Strategy,” adding 19.8 Bitcoin for about ¥199.8 million and maintaining gold exposure via a physically backed domestic gold ETF. As of June 30, ...
KLab Maintains Dual Gold Treasury Strategy Despite Unrealized Losses on Bitcoin and Gold
Jun 1, 2026
KLab Inc. reported that it made no additional purchases of Bitcoin or gold in May 2026, but disclosed that as of May 31 it held 69.64687 BTC and 20,331 units of a domestically stored physical gold ETF, with both positions sitting on sizable unreal...
KLab Books FX Gains but Suffers Losses on Investments and Bitcoin in Q1 2026
May 14, 2026
KLab Inc. reported that in the first quarter of the fiscal year ending December 2026, it booked non-operating income of ¥28.9 million from foreign exchange gains driven by exchange-rate fluctuations affecting foreign currency receivables and ...
KLab Issues FY2026 Guidance on Game Rebound and GPU Cloud Growth
May 14, 2026
KLab Inc. has issued a full-year revenue and operating income forecast for the fiscal year ending December 2026 after previously withholding guidance, projecting revenue of ¥17 billion and operating income of ¥1 billion. The move reflect...
KLab Narrows Losses, Lifts Full-Year Revenue and Profit Outlook
May 14, 2026
KLab Inc. reported first-quarter fiscal 2026 revenue of ¥1.7 billion, up 4.3% year on year, but remained loss-making with an operating loss of ¥453 million and a net loss of ¥509 million. Despite the loss, the company’s equity...
KLab Leaves Bitcoin and Gold Positions Unchanged as AI-Led Treasury Strategy Continues
May 1, 2026
KLab Inc. reported that it made no additional purchases of Bitcoin or gold during April 2026, leaving its holdings at 69.64687 BTC and 20,331 units of a domestically stored physical gold ETF, with both positions currently showing unrealized valuat...
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.