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SHIFT
(3697)
SHIFT (3697) vs. iShares MSCI Japan ETF (EWJ)
SHIFT Business Overview & Revenue Model
SHIFT Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 124.90B | 129.82B | 110.63B | 88.03B | 64.87B | 46.00B |
| Gross Profit | 42.69B | 45.02B | 35.36B | 29.94B | 20.21B | 13.15B |
| EBITDA | 16.69B | 17.03B | 11.98B | 11.89B | 8.93B | 5.81B |
| Net Income | 8.12B | 8.94B | 5.13B | 6.25B | 4.97B | 2.82B |
Balance Sheet | ||||||
| Total Assets | 77.83B | 77.00B | 62.72B | 49.53B | 40.23B | 34.27B |
| Cash, Cash Equivalents and Short-Term Investments | 27.47B | 23.73B | 20.87B | 17.59B | 12.92B | 14.25B |
| Total Debt | 18.61B | 12.04B | 9.58B | 4.90B | 3.53B | 4.22B |
| Total Liabilities | 39.52B | 35.97B | 28.20B | 19.96B | 14.22B | 11.59B |
| Stockholders Equity | 38.31B | 41.03B | 34.04B | 29.12B | 25.65B | 22.40B |
Cash Flow | ||||||
| Free Cash Flow | 3.49B | 14.17B | 3.44B | 8.99B | 6.62B | 4.32B |
| Operating Cash Flow | 4.04B | 15.65B | 9.09B | 10.25B | 7.39B | 4.76B |
| Investing Cash Flow | -1.47B | -11.70B | -9.95B | -3.80B | -5.61B | -5.43B |
| Financing Cash Flow | 1.48B | -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 |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥252.23B | 21.71 | ― | 2.49% | 9.10% | 14.67% | |
63 Neutral | ¥255.30B | 28.89 | 24.24% | ― | 17.35% | 74.71% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | ¥227.15B | 205.94 | ― | ― | 27.65% | 96.11% | |
51 Neutral | ¥181.92B | 134.33 | ― | ― | 31.57% | ― | |
41 Neutral | ¥259.07B | -42.51 | -19.16% | ― | 19.57% | -16.67% | |
| ― | ¥125.25B | 19.61 | ― | 1.02% | 26.47% | 142.77% |
SHIFT Corporate Events
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.
SHIFT Inc. announced the disposal of 106,995 treasury shares under its Restricted Stock Unit plan, aimed at incentivizing directors to drive sustainable growth and align with shareholder interests. This move, approved by the Board of Directors, highlights the company’s commitment to corporate value enhancement and aligns with previously set compensation limits for directors.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen1800.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced an absorption-type merger with its wholly-owned subsidiary, Roppongi Kanri No.10 Co., Ltd. (RK10), to enhance collaboration and streamline operations. This strategic move aims to integrate RK10’s successful online programming school with SHIFT’s existing training programs, thereby expanding its engineer training capabilities and addressing the IT industry’s talent shortage. The merger will enable SHIFT to offer enhanced e-learning content to corporate clients, focusing on compliance, information security, and other essential workplace standards, ultimately supporting smoother business operations across Japan.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen1800.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced proposals for its upcoming Annual General Meeting of Shareholders, scheduled for November 25, 2025. The proposals include the election of six directors, including three outside directors, and the appointment of accounting auditors. The company emphasizes the importance of these appointments for sustaining corporate value and achieving future growth, highlighting the leadership and experience of its key nominees.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. reported significant differences in its non-consolidated financial results for the fiscal year ended August 31, 2025, compared to the previous year. The company achieved a 17.3% increase in net sales and a 103.9% rise in net income, attributed to strategic measures like restructuring and an absorption-type merger with its subsidiary, SHIFT Enterprise Consulting Inc., which resulted in a gain on extinguishment of tie-in shares.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced an organizational restructuring involving a simplified absorption-type company split and merger with its subsidiaries, SHIFT Growth Capital Inc. and KINSHA Co., Ltd. This move is intended to streamline operations and improve collaboration within the company, particularly in its entertainment businesses, by standardizing shared functions and enhancing decision-making processes.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced an absorption-type company split involving its subsidiary, Airitech Inc., to enhance synergies in system performance verification and AI utilization. This restructuring aims to strengthen cooperation and achieve SHIFT’s target of ¥300 billion in net sales, with no new shares issued or consideration paid.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT Inc. has announced the establishment of an investment limited partnership through its subsidiary, SHIFT Growth Capital Inc., to enhance its M&A strategy. The fund aims to broaden market opportunities and set a disciplined M&A policy, with significant investment from SHIFT and its subsidiary. The initiative is expected to strengthen SHIFT’s market position and contribute to the IT industry and Japanese society, although the immediate financial impact is expected to be minimal.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 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 change in its certified public accountant, transitioning from Ernst & Young ShinNihon LLC to Deloitte Touche Tohmatsu LLC. This decision, set to be finalized at the upcoming shareholders’ meeting, is driven by the desire to gain new audit perspectives and strengthen governance amid the company’s rapid business expansion.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.
SHIFT, Inc. reported strong financial results for the year ending August 31, 2025, with a notable increase in net sales and profits. The company’s strategic growth is reflected in its significant year-on-year profit growth, positioning it favorably in the market. The inclusion of new subsidiaries and changes in accounting policies indicate a dynamic approach to expansion and financial management.
The most recent analyst rating on (JP:3697) stock is a Buy with a Yen2000.00 price target. To see the full list of analyst forecasts on SHIFT stock, see the JP:3697 Stock Forecast page.