CERES INC. (JP:3696)
:3696
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CERES INC.
(3696)
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Rating:53Neutral
Price Target:
¥1,822.00
▼(-6.23% Downside)
Action:ReiteratedDate:03/24/26
The score is held up by improved profitability and better 2025 free cash flow, but is weighed down by a clear bearish technical setup (price below key moving averages and negative MACD) and an expensive valuation (P/E ~53) despite a ~4% dividend yield.
Positive Factors
Improved profitability and ROE
A sustained jump in ROE to ~19% signals materially improved earnings power versus the 2022 trough. Higher returns indicate stronger operating leverage and capital efficiency, supporting reinvestment capacity and shareholder returns if management maintains disciplined margins over the medium term.
Negative Factors
Revenue volatility and 2025 decline
Volatile top-line trends and a 2025 decline highlight demand and portfolio-mix uncertainty. This undermines predictable revenue streams and complicates capacity planning, margin stability, and long-range forecasting, increasing execution risk for investments and strategic initiatives over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability and ROE
A sustained jump in ROE to ~19% signals materially improved earnings power versus the 2022 trough. Higher returns indicate stronger operating leverage and capital efficiency, supporting reinvestment capacity and shareholder returns if management maintains disciplined margins over the medium term.
Read all positive factors
CERES INC. (3696) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥20.73B
Dividend Yield2.88%
Average Volume (3M)308.36K
Price to Earnings (P/E)9.0
Beta (1Y)1.13
Revenue Growth9.84%
EPS Growth498.99%
CountryJP
Employees669
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)86.07
Shares Outstanding12,116,500
10 Day Avg. Volume204,940
30 Day Avg. Volume308,363
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.68
Price to Sales (P/S)0.76
P/FCF Ratio12.67
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)N/A
Revenue Forecast (FY)N/A
CERES INC. Business Overview & Revenue Model
Company Description
Ceres Inc. engages in the mobile and financial services in Japan. The company offers smartphone advertising media services with point site name Moppy that provides its users with given points that can be exchanged for cash or electronic money; and...
How the Company Makes Money
Ceres Inc. generates revenue through its affiliate marketing and digital advertising services, where it facilitates online promotions and campaigns for various businesses and earns fees based on performance or ad placements. Additionally, the comp...
CERES INC. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.41B | 29.66B | 27.71B | 24.07B | 20.54B | 23.40B |
| Gross Profit | 13.74B | 12.78B | 13.13B | 10.38B | 7.88B | 7.66B |
| EBITDA | 3.32B | 2.83B | 2.68B | 1.65B | 1.62B | 2.60B |
| Net Income | 2.36B | 2.50B | 1.48B | 451.15M | 46.61M | 2.78B |
Balance Sheet | ||||||
| Total Assets | 32.28B | 37.50B | 33.09B | 25.99B | 22.67B | 20.28B |
| Cash, Cash Equivalents and Short-Term Investments | 13.20B | 15.69B | 14.13B | 11.11B | 9.32B | 9.26B |
| Total Debt | 7.56B | 9.42B | 9.54B | 7.36B | 5.89B | 4.22B |
| Total Liabilities | 19.60B | 23.54B | 20.37B | 15.94B | 12.98B | 10.46B |
| Stockholders Equity | 12.05B | 13.30B | 11.15B | 9.19B | 8.88B | 9.08B |
Cash Flow | ||||||
| Free Cash Flow | 1.26B | 1.77B | 54.80M | 962.95M | 363.08M | 1.75B |
| Operating Cash Flow | 1.32B | 1.99B | 379.63M | 1.23B | 487.00M | 1.82B |
| Investing Cash Flow | 776.00M | 824.53M | 764.72M | -738.91M | -1.69B | -787.23M |
| Financing Cash Flow | -2.85B | -1.06B | 1.98B | 1.23B | 1.19B | 408.15M |
CERES INC. Technical Analysis
Neutral
1943.00
Price Trends
1568.54
Negative
1767.16
Negative
2043.03
Negative
Market Momentum
-6.16
Negative
55.31
Neutral
79.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3696, the sentiment is Neutral. The current price of 1943 is above the 20-day moving average (MA) of 1488.05, above the 50-day MA of 1568.54, and below the 200-day MA of 2043.03, indicating a neutral trend. The MACD of -6.16 indicates Negative momentum. The RSI at 55.31 is Neutral, neither overbought nor oversold. The STOCH value of 79.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3696.
CERES INC. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥192.50B | 12.04 | 8.27% | 2.68% | -1.18% | 10.33% | |
75 Outperform | ¥151.95B | 9.78 | ― | 2.66% | -4.09% | 57.12% | |
73 Outperform | ¥229.46B | 9.23 | ― | 3.90% | 1.47% | 6.07% | |
72 Outperform | ¥4.39B | 6.43 | ― | 2.79% | 5.85% | 31.22% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | ¥20.73B | 8.97 | ― | 2.88% | 9.84% | 498.99% | |
53 Neutral | ¥302.45B | -15.81 | -20.43% | 3.72% | -11.66% | -240.36% |
* Industrials Sector Average
JP:3696
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CERES INC. Corporate Events
Ceres Launches Share Buyback of Up to ¥500 Million
Apr 30, 2026
Ceres Inc. has authorized a new share buyback program, with its board approving the acquisition of up to 350,000 common shares, equivalent to 2.98% of its outstanding stock excluding treasury shares, at a total cost of up to ¥500 million. The...
Ceres Releases Q1 FY2026 Results for Mobile and Financial Services
Apr 30, 2026
Ceres Inc. announced that it has released its consolidated financial results for the first quarter of fiscal year 2026. The disclosure indicates performance details for the overall group and provides a breakdown by its mobile service and financial...
CERES Posts Sharp Q1 Profit Recovery and Confirms 2026 Outlook
Apr 30, 2026
CERES Inc. reported strong consolidated results for the first quarter of fiscal 2026, with net sales rising 23.9% year on year to ¥9.52 billion and operating profit more than doubling. Profit attributable to owners of the parent swung from a ...
Ceres Uses Treasury Share Disposal to Complete SQUIZ Subsidiary Deal
Apr 17, 2026
Ceres Inc. has completed the disposal of 211,416 treasury shares through a third-party allotment to two individual investors, Tomoaki Hirano and Ryo Atake, following a board resolution on April 1, 2026. The transaction, priced at 1,419 yen per sha...
Ceres Takes Control of SQUIZ to Expand Online Healthcare Platform
Apr 1, 2026
Ceres Inc. has moved to deepen its presence in online healthcare by acquiring a 90 percent stake in SQUIZ Co., Ltd., an online medical platform, for ¥3.6 billion as of April 1, 2026. This transaction follows a minority investment made in July...
Ceres to Make Online Medical Operator SQUIZ a Subsidiary via Share Deal
Apr 1, 2026
Ceres Inc. will acquire 90% of online medical services operator SQUIZ Co., Ltd., turning it into a subsidiary, and will use a disposal of treasury shares via third-party allotment as part of the consideration. The move aims to reinforce Ceres̵...
Ceres Sets Capital-Efficient Growth Plan as Market Discounts Blockchain Volatility
Mar 6, 2026
Ceres Inc. outlined a capital-efficient management policy after determining its cost of equity at 13.2% and lifting return on equity to 20.4% in 2025 through record profits in Mobile Services, portfolio optimization, and higher dividends. Despite ...
Ceres Links Expanded Director Stock Pay to ESG and Profit Targets
Feb 24, 2026
CERES INC. has resolved to revise its restricted stock remuneration plan for non-outside directors, tying a larger share-based compensation pool to both financial performance and sustainability metrics. The proposal, to be put to shareholders in M...
Ceres Inc. Plans Higher Year-End Dividend on Gain From Subsidiary Share Sale
Feb 24, 2026
Ceres Inc. plans to increase its year-end dividend for the fiscal year ended December 31, 2025, proposing a payout of ¥80 per share, up from ¥60 the previous year, with total dividends rising to ¥923 million. The proposal, to be vot...
Ceres Books ¥849 Million Extraordinary Loss on Crypto Subsidiary, No Hit to Group Results
Feb 13, 2026
Ceres Inc. has booked an extraordinary loss of ¥849 million in its non-consolidated results for the year ended December 31, 2025, after recognizing an impairment on shares held in its subsidiary Mercury Inc. The writedown follows a decline in...
Ceres Misses Profit Forecasts as Crypto Slump and D2C Weakness Offset Sales Gain
Feb 13, 2026
Ceres Inc. reported fiscal 2025 consolidated results that exceeded its earlier net sales forecast but fell short on all major profit metrics, as revenue rose to ¥29.6 billion versus guidance of ¥28.4 billion. Despite strong performance i...
Ceres Withdraws 2026 Plan and Unveils Ambitious 2030 Growth Strategy
Feb 13, 2026
Ceres Inc. has withdrawn its previous Medium-Term Management Plan 2026 after portfolio restructuring and adverse conditions in its blockchain business, including the sale of YUMEMI Inc. and a sharp decline in altcoin prices that undermined key ass...
Ceres Inc. Unveils FY2025 Results and Medium-Term 2030 Plan
Feb 13, 2026
Ceres Inc. reported its consolidated results for the fourth quarter and full fiscal year 2025, outlining performance across its mobile service and financial service segments. The company also presented its Medium-Term Management Plan 2030, a five-...
Ceres boosts earnings and dividend in 2025, guides for strong sales growth in 2026
Feb 13, 2026
Ceres reported fiscal 2025 consolidated net sales of ¥29.66 billion, up 7.1% year on year, with EBITDA jumping 71.4% and profit attributable to owners of parent surging 68.6% to ¥2.50 billion. Operating profit grew modestly, while ordina...
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.