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Makuake, Inc.
(4479)
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Rating:62Neutral
Price Target:
¥921.00
▲(7.59% Upside)
Action:Downgraded
Date:08/06/26
The score is driven primarily by improved financial performance in 2025 and a very conservative, debt-free balance sheet, partially offset by a history of volatile results and cash flow. Technical indicators are mixed-to-weak with the stock trading below key moving averages and a negative MACD, while valuation is moderately supportive with a ~15.2 P/E.
Positive Factors
Conservative Balance Sheet
Zero reported debt gives Makuake durable financial flexibility and low solvency risk. Over the next 2–6 months this supports investment in marketing, product development or strategic partnerships without refinancing risk, and cushions the business against cyclic drops in campaign volume.
Negative Factors
Volatile Profitability History
A history of recurring losses and a recent turnaround raises concern about earnings consistency. Structural reliance on campaign cycles and variable project success means profitability could reverse, making multi‑period forecasting and planning riskier for stakeholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Zero reported debt gives Makuake durable financial flexibility and low solvency risk. Over the next 2–6 months this supports investment in marketing, product development or strategic partnerships without refinancing risk, and cushions the business against cyclic drops in campaign volume.
Read all positive factors
Makuake, Inc. (4479) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥10.72B
Dividend YieldN/A
Average Volume (3M)67.53K
Price to Earnings (P/E)15.2
Beta (1Y)0.78
Revenue Growth31.62%
EPS Growth58.75%
CountryJP
Employees152
SectorFinancial
Sector Strength70
IndustrySoftware - Application
Share Statistics
EPS (TTM)55.33
Shares Outstanding12,748,700
10 Day Avg. Volume54,690
30 Day Avg. Volume67,533
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)2.42
Price to Sales (P/S)2.87
P/FCF Ratio13.52
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)N/A
Revenue Forecast (FY)N/A
Makuake, Inc. Business Overview & Revenue Model
Company Description
Makuake, Inc. operates the Makuake crowdfunding platform in Japan. It also operates Makuake, which is a support purchasing service for items and experiences; Makuake incubation studio, which supports new business development and practical human re...
How the Company Makes Money
Makuake primarily generates revenue by operating its “Makuake” crowdfunding marketplace and charging fees tied to transactions completed on the platform. The core revenue stream is commission-based: when a project owner runs a campaign and collect...
Makuake, Inc. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
83
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.62B | 4.58B | 3.65B | 3.81B | 4.21B | 4.62B |
| Gross Profit | 4.11B | 3.44B | 2.78B | 3.06B | 3.36B | 3.81B |
| EBITDA | 1.06B | 625.03M | 56.21M | -454.00M | -152.00M | 437.61M |
| Net Income | 705.38M | 407.26M | -103.60M | -491.08M | -1.35B | 246.64M |
Balance Sheet | ||||||
| Total Assets | 9.04B | 7.45B | 6.65B | 7.96B | 8.26B | 10.33B |
| Cash, Cash Equivalents and Short-Term Investments | 7.63B | 5.97B | 5.06B | 6.41B | 7.32B | 8.59B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.94B | 2.03B | 1.63B | 2.85B | 2.68B | 3.46B |
| Stockholders Equity | 6.10B | 5.42B | 5.01B | 5.11B | 5.58B | 6.87B |
Cash Flow | ||||||
| Free Cash Flow | 971.17M | 971.17M | -1.10B | -921.82M | -1.34B | -161.97M |
| Operating Cash Flow | 985.08M | 985.08M | -1.09B | -339.22M | -827.32M | 151.41M |
| Investing Cash Flow | -81.42M | -81.42M | -276.71M | -582.12M | -475.79M | -586.41M |
| Financing Cash Flow | 4.50M | 4.50M | 18.51M | 14.01M | 33.66M | 3.92B |
Makuake, Inc. Technical Analysis
Negative
856.00
Price Trends
874.36
Positive
915.40
Negative
904.50
Negative
Market Momentum
-6.10
Positive
47.58
Neutral
24.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4479, the sentiment is Negative. The current price of 856 is below the 20-day moving average (MA) of 912.90, below the 50-day MA of 874.36, and below the 200-day MA of 904.50, indicating a neutral trend. The MACD of -6.10 indicates Positive momentum. The RSI at 47.58 is Neutral, neither overbought nor oversold. The STOCH value of 24.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4479.
Makuake, Inc. Peers Comparison
UnderperformOutperform
Sector (68)
JP:4479
Makuake, Inc.
876.00
-302.00
-25.64%
JP:2998
CREAL Inc.
491.00
-480.33
-49.45%
JP:3266
Fund Creation Group Co., Ltd.
78.00
-3.06
-3.77%
JP:4310
Dream Incubator Inc.
2,355.00
-152.23
-6.07%
Makuake, Inc. Corporate Events
Makuake Posts Strong Nine-Month Earnings and Affirms Profitable Growth Outlook
Jul 28, 2026
Makuake, Inc. reported strong non-consolidated results for the nine months ended June 30, 2026, with net sales rising 31.1% year on year to ¥4,392 million and operating profit doubling to ¥844 million. Ordinary profit reached ¥848 m...
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.