BASE, Inc. (JP:4477)
:4477
Top Page
BASE, Inc.
(4477)
Select Model
Select Model
Rating:64Neutral
Price Target:
¥294.00
▼(-10.91% Downside)
Action:DowngradedDate:03/24/26
The score is led by improved financial performance (renewed growth, profitability recovery, strong cash generation, and low leverage). This is meaningfully offset by weak technical conditions (price below key moving averages with negative MACD and sub-40 RSI), while valuation is neutral-to-slightly supportive (P/E ~20 and ~1.82% yield).
Positive Factors
Revenue Acceleration
A 16.5% revenue acceleration in 2025 indicates renewed demand and improving product-market fit. Durable top-line growth supports better unit economics, enables scale effects, funds reinvestment in product and sales, and underpins a more sustainable earnings base if maintained.
Negative Factors
Historical Earnings Volatility
The firm swung from prior profits to losses in 2022–2023 before the 2025 recovery, demonstrating earnings cyclicality. Such volatility reduces predictability of future cash flows, makes planning and investment harder, and raises the risk that margins could revert under stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Acceleration
A 16.5% revenue acceleration in 2025 indicates renewed demand and improving product-market fit. Durable top-line growth supports better unit economics, enables scale effects, funds reinvestment in product and sales, and underpins a more sustainable earnings base if maintained.
Read all positive factors
BASE, Inc. (4477) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥33.84B
Dividend YieldN/A
Average Volume (3M)1.27M
Price to Earnings (P/E)20.1
Beta (1Y)0.88
Revenue Growth27.97%
EPS Growth-5.25%
CountryJP
Employees304
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)8.00
Shares Outstanding117,905,655
10 Day Avg. Volume1,114,520
30 Day Avg. Volume1,270,080
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)2.46
Price to Sales (P/S)1.77
P/FCF Ratio11.22
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)9.5
Revenue Forecast (FY)¥23.74B
BASE, Inc. Business Overview & Revenue Model
Company Description
BASE, Inc. engages in the planning, development, and operation of web services in Japan. It operates through three segments: BASE Business, PAY Business, and Other Business. The company offers an online shop creation service under the BASE name; a...
How the Company Makes Money
null...
BASE, Inc. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
78
Positive
| 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 | 768.00M | 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
Negative
330.00
Price Trends
313.04
Negative
318.26
Negative
341.64
Negative
Market Momentum
-7.91
Positive
38.54
Neutral
9.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4477, the sentiment is Negative. The current price of 330 is above the 20-day moving average (MA) of 301.85, above the 50-day MA of 313.04, and below the 200-day MA of 341.64, indicating a bearish trend. The MACD of -7.91 indicates Positive momentum. The RSI at 38.54 is Neutral, neither overbought nor oversold. The STOCH value of 9.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4477.
BASE, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥60.09B | 13.98 | ― | 3.34% | 11.81% | 18.17% | |
76 Outperform | ¥42.39B | 18.67 | ― | 1.92% | 20.81% | 68.06% | |
75 Outperform | ¥18.88B | 30.80 | ― | 3.14% | 0.50% | -2.92% | |
64 Neutral | ¥33.84B | 20.10 | ― | ― | 27.97% | -5.25% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | ¥25.76B | 39.28 | ― | ― | 20.84% | 10.41% | |
44 Neutral | ¥42.44B | 16.46 | ― | ― | 27.58% | -1.50% |
* Technology Sector Average
JP:4477
BASE, Inc.
287.00
-180.27
-38.58%
JP:3763
Pro-Ship Incorporated
1,480.00
628.36
73.78%
JP:3835
eBASE Co., Ltd.
410.00
-149.15
-26.67%
JP:3905
Datasection, Inc.
1,430.00
422.00
41.87%
JP:4481
Base Co., Ltd.
3,195.00
244.77
8.30%
JP:5027
AnyMind Group Inc.
422.00
-665.54
-61.20%
BASE, Inc. Corporate Events
BASE, Inc. Declares First Surplus Dividend and Confirms Payout Policy
Feb 18, 2026
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 follow...
BASE, Inc. Outlines Q4 Results Materials and New Medium-Term Plan Framework
Feb 12, 2026
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 highlig...
BASE Extends Confidentiality Pact to Deepen Talks With Major Shareholder
Feb 12, 2026
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 c...
BASE Sets 14th-Year Management Lineup With Focus on Governance Continuity
Feb 12, 2026
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...
BASE, Inc. Launches Up to ¥1 Billion Share Buyback to Boost Capital Efficiency
Feb 12, 2026
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 Feb...
BASE, Inc. Posts Strong 2025 Earnings, Initiates Dividend and Projects Further Growth
Feb 12, 2026
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...
BASE Lifts FY2025 Profit Outlook and Hikes Year-End Dividend on Stronger Margins
Feb 5, 2026
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 y...
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.