AltPlus Inc. (3672) AI Stock Analysis

• Market Cap: ¥3.03B
• Dividend Yield: N/A
• Average Volume (3M): 781.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: -17.60%
• EPS Growth: 37.30%
• Country: JP
• Employees: 217
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): -1.90
• Shares Outstanding: 59,402,035
• 10 Day Avg. Volume: 413,670
• 30 Day Avg. Volume: 781,070
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: ―

AltPlus Inc. faces major financial difficulties, characterized by persistent losses, declining margins, and negative cash flow. Technically, the stock is in a significant downtrend, and its negative P/E ratio complicates valuation. Without new corporate events or earnings guidance, the overall outlook remains challenging.

Positive Factors

Business Model Diversification

Diversification into support services for other gaming companies provides AltPlus with additional revenue streams, potentially stabilizing income despite challenges in its core gaming segment.

Strong Liquidity Position

A strong liquidity position with no debt enhances financial flexibility, allowing AltPlus to potentially invest in growth opportunities or weather financial downturns.

Strategic Partnerships

Partnerships with other firms can expand market reach and enhance service offerings, providing a competitive edge and potential for long-term growth.

Negative Factors

Persistent Losses

Ongoing losses and declining margins indicate significant challenges in achieving profitability, which can impact long-term sustainability and investor confidence.

Negative Cash Flow

Negative cash flow from operations suggests AltPlus struggles to generate sufficient cash to support its operations, posing risks to its financial health and ability to invest in growth.

Declining Revenue Growth

Negative revenue growth reflects challenges in sustaining sales momentum, which can hinder AltPlus's ability to expand its market position and improve financial performance.

AltPlus Inc. Business Overview & Revenue Model

Company Description

AltPlus Inc. (3672) is a Japanese company primarily engaged in the mobile gaming industry. It specializes in the planning, development, and distribution of social games and applications for smartphones and other connected devices. The company also offers business solutions and services related to game operations, such as customer support and marketing.

How the Company Makes Money

AltPlus Inc. generates revenue through various streams, predominantly from in-app purchases within its mobile games, where users can buy virtual goods or currency to enhance their gaming experience. The company also earns money through advertising within its games and applications. Additionally, AltPlus provides operation support services to other gaming companies, which includes marketing, customer service, and server management, contributing to its revenue. Strategic partnerships with other gaming and technology firms further augment its financial performance by expanding its market reach and enhancing its service offerings.

AltPlus Inc. Financial Statement Overview

Summary

AltPlus Inc. faces significant financial challenges across all financial statements. The income statement shows persistent losses and declining margins, the balance sheet, despite no debt, indicates a weakening equity base, and cash flow statements reflect operational inefficiencies with negative cash flow generation.

Income Statement

AltPlus Inc. has struggled to maintain profitability, with consistent negative EBIT and net income over the years. The gross profit margin has decreased considerably, highlighting challenges in cost management. Revenue growth has been negative in recent periods, suggesting difficulties in sustaining sales momentum. Overall, the income statement reflects significant financial challenges.

Balance Sheet

The company maintains a strong liquidity position with substantial cash reserves and no debt, resulting in a robust equity ratio. However, the declining stockholders' equity and total assets indicate potential risks in long-term financial stability. Despite the absence of leverage risks, the balance sheet shows a weakening equity base.

Cash Flow

AltPlus Inc. has experienced negative free cash flow and operating cash flow across recent periods, highlighting operational inefficiencies. The lack of positive cash flow growth and the inability to generate cash from operations pose significant concerns. Despite some cash inflows from financing activities, the cash flow statement reflects ongoing cash management challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.93B	2.90B	3.52B	4.39B	6.00B	7.29B
Gross Profit	139.34M	174.04M	214.94M	373.39M	228.03M	487.68M
EBITDA	-430.14M	-440.12M	-444.94M	-391.57M	-761.16M	-350.36M
Net Income	-470.16M	-434.66M	-452.27M	-420.60M	-780.30M	-389.10M
Balance Sheet
Total Assets	1.47B	1.75B	1.54B	1.90B	1.97B	2.92B
Cash, Cash Equivalents and Short-Term Investments	714.72M	863.51M	766.13M	847.35M	783.87M	1.52B
Total Debt	0.00	0.00	0.00	0.00	116.67M	171.67M
Total Liabilities	662.63M	733.51M	763.77M	943.53M	1.04B	1.22B
Stockholders Equity	805.61M	1.01B	774.32M	950.46M	928.01M	1.69B
Cash Flow
Free Cash Flow	0.00	-575.35M	-411.23M	-456.15M	-731.36M	-64.09M
Operating Cash Flow	0.00	-573.01M	-410.77M	-452.04M	-710.62M	-63.84M
Investing Cash Flow	0.00	19.09M	62.97M	309.42M	94.24M	-317.40M
Financing Cash Flow	0.00	651.30M	266.58M	326.00M	-54.00M	126.67M

AltPlus Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 51.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3672, the sentiment is Negative. The current price of 51 is below the 20-day moving average (MA) of 58.20, below the 50-day MA of 63.94, and below the 200-day MA of 68.42, indicating a bearish trend. The MACD of -3.45 indicates Positive momentum. The RSI at 30.51 is Neutral, neither overbought nor oversold. The STOCH value of 6.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3672.

AltPlus Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3928	65 Neutral	¥2.17B	17.11	―	―	-10.80%	-64.63%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
3907	58 Neutral	¥2.04B	6.50	―	1.35%	2.33%	―
3639	47 Neutral	¥1.65B	53.10	―	―	-17.76%	-15.23%
3672	41 Neutral	¥3.03B	-3.72	―	―	-17.60%	37.30%
3664	39 Underperform	¥2.79B	-4.25	―	―	-9.66%	-55.87%
3667	37 Underperform	¥1.97B	-1.58	―	―	-22.21%	32.20%