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SHIFT
(3697)
SHIFT (3697) vs. iShares MSCI Japan ETF (EWJ)
SHIFT Business Overview & Revenue Model
SHIFT Financial Statement Overview
| Breakdown | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 129.82B | 110.63B | 88.03B | 64.87B | 46.00B |
| Gross Profit | 45.02B | 35.36B | 29.94B | 20.21B | 13.15B |
| EBITDA | 17.03B | 11.98B | 11.89B | 8.93B | 5.81B |
| Net Income | 8.94B | 5.13B | 6.25B | 4.97B | 2.82B |
Balance Sheet | |||||
| Total Assets | 77.00B | 62.72B | 49.53B | 40.23B | 34.27B |
| Cash, Cash Equivalents and Short-Term Investments | 23.73B | 20.87B | 17.59B | 12.92B | 14.25B |
| Total Debt | 12.04B | 9.58B | 4.90B | 3.53B | 4.22B |
| Total Liabilities | 35.97B | 28.20B | 19.96B | 14.22B | 11.59B |
| Stockholders Equity | 41.03B | 34.04B | 29.12B | 25.65B | 22.40B |
Cash Flow | |||||
| Free Cash Flow | 14.17B | 3.44B | 8.99B | 6.62B | 4.32B |
| Operating Cash Flow | 15.65B | 9.09B | 10.25B | 7.39B | 4.76B |
| Investing Cash Flow | -11.70B | -9.95B | -3.80B | -5.61B | -5.43B |
| Financing Cash Flow | -1.19B | 4.15B | -1.80B | -3.08B | 8.29B |
SHIFT Technical Analysis
SHIFT Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥94.95B | 25.48 | ― | 1.19% | 22.78% | 7.57% | |
78 Outperform | ¥52.09B | 14.81 | 7.99% | 2.73% | 8.26% | 9.09% | |
77 Outperform | ¥206.73B | 17.11 | ― | 2.49% | 9.10% | 14.67% | |
74 Outperform | ¥22.18B | 10.37 | ― | 2.40% | 21.57% | 129.44% | |
72 Outperform | ¥51.78B | 18.53 | ― | 1.50% | 13.48% | 35.63% | |
68 Neutral | ¥187.73B | 21.12 | 24.24% | ― | 17.35% | 74.71% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
SHIFT Corporate Events
SHIFT Inc. has finalized the terms for its 10th series of paid share options to be granted to employees, following a prior board resolution in mid-January. The company will allocate 10,000 share option rights to 36 employees, with the options corresponding to a total of 1,000,000 shares of common stock, reinforcing its use of equity-based incentives to align staff interests with long‑term corporate performance.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen787.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has completed a share repurchase program authorized by its board on January 14, 2026, buying back 7.9 million shares of common stock on the Tokyo Stock Exchange between January 19 and January 27, 2026, for a total of approximately ¥6.55 billion. The buyback, which reached the full share volume authorized (3.0% of outstanding shares excluding treasury stock) but remained below the maximum monetary cap, signals a capital allocation move that may enhance shareholder value through reduced share float and underscores management’s active use of treasury share repurchases as a financial and governance tool.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen937.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has approved the issuance of its 10th series of paid share options to 37 employees, designed as an incentive scheme to boost motivation, strengthen organizational cohesion, and accelerate growth while aligning staff interests with those of shareholders. The options, which could dilute existing shares by about 0.4% if fully exercised, feature an exercise price structure tied to the company’s performance, notably a consolidated adjusted operating profit target of ¥40 billion for the fiscal year ending August 2029, positioned as a milestone toward its broader “SHIFT3000” goals of ¥300 billion in sales and ¥65 billion in adjusted operating profit; management argues the structure is not on favorable terms, is priced at fair value, and that the potential dilution is reasonable given the expected enhancement of corporate and shareholder value.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen1006.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has approved a group-wide organizational restructuring that will transfer all shares of its subsidiary Airitech Inc. to Stride Digital Group Inc. via an absorption-type company split, followed by the absorption-type merger of Airitech and madere Inc. into CIMTECH Inc., which will later adopt a new corporate name. By consolidating Airitech and madere under SDG’s stronger business base and then integrating them into CIMTECH, SHIFT aims to build a larger, more technically diverse engineering organization, expand orders from existing and new customers, strengthen recruitment of high-caliber talent, and improve project quality and efficiency through integrated management and standardized knowledge, ultimately pursuing multifaceted synergies and higher corporate value in its DX consulting and related services.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen1006.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has resolved to repurchase up to 7.9 million of its own shares, representing about 3% of its outstanding stock (excluding treasury shares), for a maximum total of ¥10 billion between January 19 and March 31, 2026. Management views the current share price as significantly undervalued relative to its expectations and considers this buyback a more attractive and certain use of capital than pursuing additional M&A at this time, framing the move as a strategic growth investment; the company also does not intend to cancel the repurchased shares, suggesting potential future use for capital strategy or transactions while aiming to enhance shareholder value and signal confidence in its long-term growth trajectory.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen1006.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc., through its consolidated subsidiary SHIFT Growth Capital Inc., has agreed to acquire all shares of Nisseicom, Limited from Nissei Holdings via a multi-step transaction that will make Nisseicom a consolidated subsidiary. Nisseicom is a prime vendor for mid-sized enterprises, providing business application packages, system development, maintenance and operations, with strong positions in industrial and distribution sectors as well as specialized solutions for national and public universities and health insurance societies. The deal is intended to broaden SHIFT’s customer base in the health insurance domain and regional markets outside Greater Tokyo, deepen its presence among mid-sized enterprises, and generate upselling and cross-selling opportunities by combining Nisseicom’s development capabilities with SHIFT’s software testing and related services. By improving operational efficiency and profitability at Nisseicom and integrating its offerings, SHIFT aims to reinforce its growth trajectory and enhance medium- to long-term corporate value for the group and its stakeholders.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen1006.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT reported consolidated net sales of ¥34.8 billion for the three months ended November 30, 2025, up 15.5% year on year, but operating profit declined 19.9% to ¥2.8 billion and profit attributable to owners of parent fell 9.2% to ¥1.8 billion, with basic earnings per share slipping to ¥6.82. Despite the pressure on profitability, total assets and shareholders’ equity increased, the equity ratio improved to 53.5%, dividends remain at zero for the current and forecast fiscal year, and the company reaffirmed its full-year 2026 guidance, targeting ¥150.0 billion in net sales and ¥20.0 billion in adjusted operating and ordinary profit, underscoring its focus on adjusted earnings metrics that strip out M&A-related amortization and expenses.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen1006.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has completed the allotment procedures for the disposal of its treasury shares under a restricted stock unit plan approved by its board in late November 2025. The company issued 106,995 shares of common stock to seven directors as compensation, valuing the shares at ¥1,013.5 each—the previous trading day’s closing price—resulting in a total disposal value of approximately ¥108.4 million, a move that underscores its ongoing use of stock-based pay to tie director compensation more closely to company performance and shareholder value.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen992.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has resolved to absorb its wholly owned subsidiary ADX Consulting Inc. through an absorption-type merger effective March 1, 2026, with SHIFT as the surviving entity and ADX dissolved. ADX, originally established as a joint venture in 2020 and fully acquired by SHIFT in 2023, specializes in ERP planning, requirements definition and upstream consulting, which strategically complement SHIFT’s existing ERP services. By fully integrating ADX without issuing new shares or other consideration, SHIFT aims to strengthen collaboration in ERP consulting, accelerate business growth and support its medium-term target of achieving ¥300 billion in net sales under the “SHIFT3000” initiative, potentially enhancing operational efficiency and reinforcing its competitiveness in enterprise digital transformation services.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen992.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. announced that its wholly owned subsidiary ALH Inc. will conduct an absorption-type merger of two of its regional subsidiaries, Osaka-based Crebnet Corporation and Sendai-based dataway. systems co., ltd., with ALH as the surviving entity. The restructuring is intended to expand ALH’s operational footprint in Osaka and fully launch its Sendai operations, while integrating back-office functions, standardizing business processes, and cutting costs to better utilize management resources; the merger, scheduled to take effect on March 2, 2026, involves no new share issuance or other consideration and will not alter ALH’s core corporate profile, but is expected to streamline regional operations within the SHIFT group.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen992.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced a delay in the effective date of the absorption-type merger with its subsidiary, Roppongi Kanri No. 10 Co., Ltd., due to longer-than-expected prerequisite procedures. The merger’s new effective date is now scheduled for February 1, 2026, instead of the initially planned January 1, 2026. The company anticipates that this change will have an immaterial impact on its consolidated financial results, but it remains committed to promptly disclosing any significant changes in business conditions that may arise.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen992.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced that its subsidiary, SHIFT Growth Capital Inc., will acquire all shares of a newly established company formed by ESCCO Japan Co., Ltd. This acquisition aims to enhance SHIFT’s presence in the insurance sector by leveraging ESCCO Japan’s expertise in system development for the insurance industry. The move is expected to strengthen SHIFT’s collaboration with HOPES Corporation, expand its customer base, and increase project scale, thereby accelerating growth and enhancing service offerings.
The most recent analyst rating on (JP:3697) stock is a Hold with a Yen992.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.