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Showcase, Inc. (Japan) (JP:3909)
:3909
Japanese Market
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Showcase, Inc. (Japan) (3909) AI Stock Analysis

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JP:3909

Showcase, Inc. (Japan)

(3909)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
¥219.00
▼(-29.58% Downside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by persistent negative operating/free cash flow and a sharp revenue decline despite a 2025 profit rebound, plus a very high P/E valuation. Technical signals are also weak (price below key moving averages with negative MACD), offering limited support.
Positive Factors
Improved leverage
Material deleveraging to roughly 0.36x debt/equity meaningfully reduces financial strain. Lower leverage improves interest flexibility and liquidity, giving management durable capacity to fund product development, sales investment or acquisitions without immediate profitability pressure.
Negative Factors
Sharp revenue decline
A ~44% year-over-year revenue contraction erodes scale economics and weakens pricing power. Sustained top-line decline reduces ability to cover fixed costs, compresses operating leverage and limits reinvestment in R&D and sales, threatening margin sustainability and growth prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Material deleveraging to roughly 0.36x debt/equity meaningfully reduces financial strain. Lower leverage improves interest flexibility and liquidity, giving management durable capacity to fund product development, sales investment or acquisitions without immediate profitability pressure.
Read all positive factors

Showcase, Inc. (Japan) (3909) vs. iShares MSCI Japan ETF (EWJ)

Showcase, Inc. (Japan) Business Overview & Revenue Model

Company Description
Showcase Inc. provides Website optimization services in Japan. The company offers NaviCast Form Assist, an entry form optimization (EFO) tool that measures to enhance the input rate in order to maximize the results; NaviCast Form Converter, mobile...
How the Company Makes Money
Showcase, Inc. generates revenue primarily by providing software and related services to corporate customers for web marketing and website optimization. Key revenue streams typically include fees from the provision of its software solutions (e.g.,...

Showcase, Inc. (Japan) Financial Statement Overview

Summary
Mixed fundamentals. 2025 returned to profitability with a strong net margin, and leverage improved materially (debt-to-equity down to ~0.36x). However, revenue fell sharply (~44% YoY), operating margin remains thin (~3%), and operating/free cash flow has been negative for multiple years (including 2025), raising concerns about earnings quality and liquidity risk.
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
28
Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue5.17B2.90B6.21B5.68B4.63B1.59B
Gross Profit1.63B1.30B1.51B1.60B1.70B1.21B
EBITDA277.55M163.92M87.23M-80.19M-340.09M93.41M
Net Income388.31M810.38M-742.76M-117.98M-526.33M59.76M
Balance Sheet
Total Assets2.70B2.50B3.49B3.46B4.00B2.68B
Cash, Cash Equivalents and Short-Term Investments927.15M905.42M1.33B1.40B1.75B1.88B
Total Debt515.67M605.69M1.87B1.63B1.24B340.57M
Total Liabilities767.05M801.22M2.19B1.95B1.73B504.00M
Stockholders Equity1.94B1.70B795.89M881.41M1.60B2.18B
Cash Flow
Free Cash Flow0.00-125.24M-693.45M-190.88M-823.67M110.31M
Operating Cash Flow0.00-41.89M-683.80M-184.26M-804.41M121.55M
Investing Cash Flow0.00-56.98M-292.69M51.63M233.88M-94.09M
Financing Cash Flow0.00-430.60M910.54M-215.93M311.97M-349.25M

Showcase, Inc. (Japan) Technical Analysis

Technical Analysis Sentiment
Negative
Last Price311.00
Price Trends
50DMA
230.90
Negative
100DMA
254.18
Negative
200DMA
287.18
Negative
Market Momentum
MACD
-3.17
Positive
RSI
33.83
Neutral
STOCH
27.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3909, the sentiment is Negative. The current price of 311 is above the 20-day moving average (MA) of 228.75, above the 50-day MA of 230.90, and above the 200-day MA of 287.18, indicating a bearish trend. The MACD of -3.17 indicates Positive momentum. The RSI at 33.83 is Neutral, neither overbought nor oversold. The STOCH value of 27.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3909.

Showcase, Inc. (Japan) Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
¥7.50B23.234.31%-77.64%
64
Neutral
¥30.90B15.6232.07%349.54%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
57
Neutral
¥4.55B49.9218.48%-48.49%
51
Neutral
¥32.47B36.7918.09%-50.60%
44
Neutral
¥2.18B0.73-58.00%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JP:3909
Showcase, Inc. (Japan)
214.00
-108.00
-33.54%
JP:4015
Paycloud Holdings Inc.
467.00
-252.00
-35.05%
JP:4477
BASE, Inc.
265.00
-142.99
-35.05%
JP:4484
Lancers, Inc.
276.00
68.37
32.93%
JP:5027
AnyMind Group Inc.
506.00
-63.19
-11.10%
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.Date of analysis: May 20, 2026