KLab Inc. (JP:3656)
:3656
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KLab Inc.
(3656)
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Rating:49Neutral
Price Target:
¥335.00
▼(-11.38% Downside)
Action:Reiterated
Date:05/20/26
The score is mainly constrained by weak financial performance (multi-year revenue decline, margin compression, continued losses, and cash burn). Technicals are moderately supportive with the price above key moving averages, but momentum indicators are mixed. Valuation remains challenged because the company is loss-making and the P/E is negative.
Positive Factors
Low leverage & equity cushion
Very low debt and a ~¥10.3B equity base provide a durable financial cushion against ongoing operating losses. This reduces short-term solvency risk and gives management runway to fund live-ops, invest in development, or pursue restructuring without immediate refinancing pressure.
Negative Factors
Prolonged revenue decline
Multi-year revenue decline and sustained margin compression reduce scale and weaken the firm's ability to fund frequent content updates central to F2P success. Lower sales and thinner margins make it harder to sustain live-ops investment and rebuild title pipelines without external support.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & equity cushion
Very low debt and a ~¥10.3B equity base provide a durable financial cushion against ongoing operating losses. This reduces short-term solvency risk and gives management runway to fund live-ops, invest in development, or pursue restructuring without immediate refinancing pressure.
Read all positive factors
KLab Inc. (3656) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥24.08B
Dividend YieldN/A
Average Volume (3M)13.13M
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth-17.15%
EPS Growth-70.83%
CountryJP
Employees459
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-121.17
Shares Outstanding79,860,600
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., together with its subsidiaries, plans, develops, operates, and publishes online mobile games worldwide. The company offers game titles, such as BLEACH Brave Souls, BLEACH Soul Rising, Tales of Crestria, Captain Tsubasa: Dream Team, Love...
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 | 7.84B | 6.86B | 8.31B | 10.72B | 16.88B | 23.90B |
| Gross Profit | 1.30B | 830.54M | 1.13B | 1.75B | 3.02B | 2.72B |
| EBITDA | -808.16M | -1.24B | -1.15B | -801.92M | -223.09M | -357.18M |
| Net Income | -6.19B | -4.18B | -2.78B | -1.82B | -541.92M | -3.47B |
Balance Sheet | ||||||
| Total Assets | 10.94B | 13.27B | 16.11B | 17.96B | 20.97B | 18.81B |
| Cash, Cash Equivalents and Short-Term Investments | 1.84B | 5.21B | 1.61B | 2.21B | 6.02B | 4.75B |
| Total Debt | 1.13B | 332.28M | 2.22B | 3.18B | 3.51B | 1.00B |
| Total Liabilities | 4.08B | 2.97B | 5.74B | 6.25B | 7.82B | 6.00B |
| Stockholders Equity | 6.86B | 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
Positive
378.00
Price Trends
317.94
Positive
329.57
Positive
265.31
Positive
Market Momentum
-9.69
Negative
61.47
Neutral
93.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3656, the sentiment is Positive. The current price of 378 is above the 20-day moving average (MA) of 271.10, above the 50-day MA of 317.94, and above the 200-day MA of 265.31, indicating a bullish trend. The MACD of -9.69 indicates Negative momentum. The RSI at 61.47 is Neutral, neither overbought nor oversold. The STOCH value of 93.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥173.31B | 9.72 | 10.05% | 4.61% | 10.67% | 1.68% | |
69 Neutral | ¥300.46B | 14.22 | 17.98% | 2.52% | -9.94% | -21.11% | |
66 Neutral | ¥42.82B | 6.92 | ― | 4.06% | 9.32% | 243.34% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | ¥73.07B | 23.27 | 1.59% | 2.09% | -8.43% | -5.44% | |
49 Neutral | ¥24.08B | -11.91 | ― | ― | -17.15% | -70.83% | |
46 Neutral | ¥16.33B | 9.33 | ― | ― | -22.53% | ― |
* Communication Services Sector Average
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KLab Inc. Corporate Events
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...
KLab Expands AI-Driven Bitcoin and Gold Treasury Holdings Despite Unrealized Losses
Apr 1, 2026
KLab Inc. reported that between March 1 and March 31, 2026, it purchased 17.740 Bitcoin for about ¥199.9 million, bringing its total holdings to 69.64687 BTC alongside 20,331 units of a physically backed domestic gold ETF. As of March 31, the...
KLab Expands AI‑Driven Bitcoin and Gold Treasury Strategy
Mar 2, 2026
KLab Inc. disclosed additional purchases of Bitcoin and a physically backed domestic gold ETF made between February 24 and 27, 2026, bringing its holdings to 51.90737 BTC and 20,331 gold units with an almost equal allocation between the two assets...
KLab Expands Bitcoin and Gold Holdings Under AI-Driven Treasury Strategy
Feb 24, 2026
KLab Inc. disclosed that it has further increased its holdings of Bitcoin and gold ETFs between February 16 and 20, 2026, purchasing about ¥120 million in Bitcoin and roughly ¥81 million in domestically stored physical gold ETFs. As of F...
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.