BASE, Inc. (JP:4477)
:4477
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BASE, Inc.
(4477)
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Rating:64Neutral
Price Target:
¥294.00
▼(-10.91% Downside)
Action:Downgraded
Date: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 Growth Recovery
A sustained acceleration to +16.5% revenue in 2025 indicates improving product-market fit and demand after prior stagnation. Durable top-line momentum increases the probability that operating leverage and investment returns will remain positive over the next several quarters if execution continues.
Negative Factors
Historic Earnings Volatility
The company has swung from profitability to losses across recent years, which undermines predictability of future earnings. Such earnings cyclicality increases forecasting risk, can constrain long-term planning, and may force conservative capital allocation in downturns, limiting growth optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Recovery
A sustained acceleration to +16.5% revenue in 2025 indicates improving product-market fit and demand after prior stagnation. Durable top-line momentum increases the probability that operating leverage and investment returns will remain positive over the next several quarters if execution continues.
Read all positive factors
BASE, Inc. (4477) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥31.72B
Dividend YieldN/A
Average Volume (3M)1.27M
Price to Earnings (P/E)15.3
Beta (1Y)0.81
Revenue Growth32.07%
EPS Growth349.54%
CountryJP
Employees304
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)2.92
Shares Outstanding117,931,656
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)17.2
Revenue Forecast (FY)¥27.60B
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
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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
285.76
Negative
302.72
Negative
320.28
Negative
Market Momentum
-6.49
Negative
43.46
Neutral
63.64
Neutral
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 275.00, above the 50-day MA of 285.76, and above the 200-day MA of 320.28, indicating a bearish trend. The MACD of -6.49 indicates Negative momentum. The RSI at 43.46 is Neutral, neither overbought nor oversold. The STOCH value of 63.64 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
85 Outperform | ¥46.75B | 18.47 | ― | 1.92% | 10.70% | 13.33% | |
78 Outperform | ¥57.65B | 13.62 | ― | 3.34% | 3.30% | 2.50% | |
71 Outperform | ¥18.10B | 16.91 | ― | 3.14% | -3.85% | -17.22% | |
64 Neutral | ¥31.72B | 15.34 | ― | ― | 32.07% | 349.54% | |
62 Neutral | ¥163.55B | 52.43 | ― | ― | 1042.00% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | ¥29.40B | 28.07 | ― | ― | 18.09% | -50.60% |
* Technology Sector Average
JP:4477
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BASE, Inc. Corporate Events
BASE lifts Q1 profits on strong sales, keeps 2026 outlook and dividend plan
May 12, 2026
BASE, Inc. reported strong results for the three months ended March 31, 2026, with net sales rising 36.6% year on year to ¥6.24 billion and EBITDA surging 83.6%. Operating profit climbed 70.5% to ¥664 million and profit attributable to o...
BASE Extends Confidentiality Pact with Key Shareholder to Sustain Friendly Engagement
May 12, 2026
BASE, Inc. has extended the effective period of its confidentiality agreement with shareholder Hiroyuki Maki to a full year from the original execution date, maintaining all other conditions. The move follows two prior extensions and signals the c...
BASE to Acquire Entertainment-Tech Firm Port Inc. in Strategic Expansion
Apr 16, 2026
BASE, Inc. has resolved to acquire shares of entertainment-tech firm Port Inc. and make it a subsidiary, as part of its strategy to expand its presence in the growing fan engagement and digital content markets. Port operates services such as Talkp...
BASE, Inc. Releases Strategic Outlook, Forecasts, and FY2025 Results
Mar 26, 2026
BASE, Inc. has released materials outlining its corporate profile, business structure, and key performance metrics for stakeholders. The documents also present a medium-term management policy and earnings forecast for the fiscal year ending Decemb...
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.