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BASE, Inc.
(4477)
BASE, Inc. (4477) vs. iShares MSCI Japan ETF (EWJ)
BASE, Inc. Business Overview & Revenue Model
BASE, Inc. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.80B | 20.73B | 15.98B | 11.68B | 9.74B | 9.93B |
| Gross Profit | 8.10B | 9.99B | 7.17B | 5.03B | 4.74B | 5.62B |
| EBITDA | 17.00M | 1.75B | -36.00M | -601.00M | -1.69B | -1.17B |
| Net Income | 335.00M | 1.83B | 340.00M | -606.00M | -1.73B | -1.19B |
Balance Sheet | ||||||
| Total Assets | 42.78B | 57.80B | 46.29B | 37.30B | 31.28B | 31.99B |
| Cash, Cash Equivalents and Short-Term Investments | 19.23B | 26.87B | 25.73B | 22.23B | 22.41B | 24.05B |
| Total Debt | 407.00M | 896.00M | 727.00M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 29.37B | 42.68B | 32.69B | 24.30B | 17.78B | 16.89B |
| Stockholders Equity | 13.41B | 14.92B | 13.60B | 13.00B | 13.50B | 15.10B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.27B | 3.63B | -133.00M | -1.73B | 1.76B |
| Operating Cash Flow | 0.00 | 3.28B | 3.66B | -80.00M | -1.71B | 1.78B |
| Investing Cash Flow | 0.00 | -3.07B | -159.00M | -53.00M | -28.00M | -21.00M |
| Financing Cash Flow | 0.00 | -1.07B | 3.00M | 16.00M | 26.00M | 21.00M |
BASE, Inc. Technical Analysis
BASE, Inc. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥42.68B | 14.20 | ― | 1.92% | 20.81% | 68.06% | |
78 Outperform | ¥63.00B | 14.61 | ― | 3.34% | 11.81% | 18.17% | |
75 Outperform | ¥20.08B | 17.06 | ― | 3.14% | 0.50% | -2.92% | |
73 Outperform | ¥37.49B | 20.04 | ― | ― | 27.97% | -5.25% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ¥56.30B | -35.71 | ― | ― | 27.58% | -1.50% | |
49 Neutral | ¥31.62B | 33.52 | ― | ― | 20.84% | 10.41% |
BASE, Inc. Corporate Events
BASE, Inc. has approved its first dividend from surplus, setting a year-end dividend of 5 yen per share for the fiscal year ended December 31, 2025, with a total payout of 575 million yen and an effective date of March 6, 2026. The decision follows its previously announced dividend increase and reflects a capital policy that balances aggressive growth investments and M&A with flexible shareholder returns, while maintaining financial soundness and aiming to enhance medium- to long-term corporate value.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. released materials outlining its financial results presentation for the fourth quarter of the fiscal year ending December 31, 2025, along with reference to results for Q4 of the fiscal year ending December 31, 2026. The document highlights an executive summary and a new medium-term management plan tied to a financial results forecast for the fiscal year ending December 31, 202X, though no specific performance figures or strategic details are provided.
The outlined agenda indicates the company is focusing on forward financial planning, structured disclosure, and updated guidance for stakeholders across multiple fiscal periods. This suggests an effort to enhance transparency around its performance trajectory and future management strategy, which may be relevant for investors assessing the company’s evolving financial outlook and governance framework.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. has extended the effective period of its confidentiality agreement with major shareholder Hiroyuki Maki by three months, lengthening it from six to nine months while keeping all other conditions unchanged. The extension underlines the company’s commitment to continuing a friendly engagement process with the shareholder, framed as a means to maximize corporate value and protect the common interests of shareholders, with further disclosures to follow if material developments occur.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. has tentatively decided its management structure for the 14th fiscal year, reappointing CEO Yuta Tsuruoka and CFO Ken Harada as directors along with three outside directors who will continue to serve as independent directors under Tokyo Stock Exchange rules. The move signals continuity in leadership and governance as the company heads into its next fiscal year, pending formal approval at the 13th Annual General Meeting of Shareholders on March 26, 2026.
The firm will also retain its current slate of senior executive officers, including the SVP of Development and COO, while reshaping its audit and supervisory framework by appointing two new outside auditors alongside one continuing outside auditor. By maintaining a board with multiple independent directors and auditors, BASE underscores a commitment to strong oversight and compliance, which may reassure investors about the stability of its management and governance structure.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. has resolved at its board meeting to repurchase up to 3.8 million shares of its common stock, representing about 3.3% of shares outstanding, for a maximum of 1 billion yen through market purchases on the Tokyo Stock Exchange between February 13 and December 31, 2026. The buyback, aligned with its flexible shareholder return policy, aims to improve capital efficiency while the company continues to prioritize growth investments and preserve a solid financial base, signaling a balanced approach to rewarding shareholders and funding future expansion.
The repurchase framework allows the company discretion not to acquire some or all of the planned shares if funding needs rise significantly or regulatory constraints, such as insider trading rules, intervene. This flexible structure underscores management’s intent to adapt capital allocation to market conditions and operational requirements, potentially supporting the share price and enhancing shareholder value without compromising liquidity or strategic investment capacity.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. reported strong consolidated results for the year ended December 31, 2025, with net sales rising 29.7% to ¥20.73 billion and operating profit more than doubling to ¥1.69 billion, lifting profit attributable to owners of parent to ¥1.83 billion and boosting earnings per share to ¥15.87. The company strengthened its balance sheet with higher total assets and equity, generated solid operating cash flow despite increased investing outlays, began returning cash to shareholders via a ¥5 year-end dividend, and issued a 2026 forecast that projects continued robust top-line and profit growth, albeit with lower net income due to planned strategic investments and changes in profit structure.
BASE’s equity ratio declined to 25.3% on asset expansion and increased treasury shares, while it added Estore Corporation as a significant subsidiary, indicating active portfolio and scale-building moves in its core business. Non‑consolidated results also showed sharp profit improvement, underlining operational leverage in the parent business, and the guidance for further EBITDA and operating profit gains in 2026 suggests that management is prioritizing growth and competitiveness in the e‑commerce and payments market while maintaining shareholder returns.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.
BASE, Inc. revised its full-year consolidated earnings forecast for the fiscal year ending December 31, 2025, projecting significantly higher profitability despite a slight reduction in expected net sales. The company now anticipates substantial year-on-year increases in EBITDA, operating profit, ordinary profit, and profit attributable to owners of the parent, driven by better-than-planned gross profit and disciplined control of selling, general and administrative expenses, particularly promotion costs. Reflecting the stronger earnings outlook and its policy of prioritizing shareholder returns alongside internal reserves for future growth, BASE also raised its year-end dividend forecast from 4 yen to 5 yen per share, marking its first meaningful dividend increase and signaling management’s confidence in the company’s earnings power and business foundation.
The most recent analyst rating on (JP:4477) stock is a Hold with a Yen336.00 price target. To see the full list of analyst forecasts on BASE, Inc. stock, see the JP:4477 Stock Forecast page.