Makuake, Inc. (JP:4479)
:4479
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Makuake, Inc.
(4479)
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Rating:72Outperform
Price Target:
¥1,001.00
▲(16.94% Upside)
Action:Reiterated
Date:01/31/26
The score is driven primarily by improved financial performance and a strong, debt-free balance sheet, tempered by prior multi-year earnings and cash flow volatility. Technicals add support due to a strong uptrend and positive momentum, while valuation is neutral-to-slightly limiting at ~22x earnings with no dividend yield provided.
Positive Factors
Conservative, debt-free balance sheet
Makuake's zero-debt, conservative balance sheet provides durable financial flexibility and low solvency risk. Over the next several months this reduces refinancing and interest exposure, supports investment in product/marketing, and allows the company to endure demand volatility without forced asset sales.
Negative Factors
Multi-year earnings and cash-flow volatility
History of losses and deep negative cash flow across 2022–2024 undermines confidence that the 2025 rebound is durable. Persistent volatility complicates planning, raises execution risk for scaling operations, and means future earnings could reverse without sustained GMV and project success rates.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative, debt-free balance sheet
Makuake's zero-debt, conservative balance sheet provides durable financial flexibility and low solvency risk. Over the next several months this reduces refinancing and interest exposure, supports investment in product/marketing, and allows the company to endure demand volatility without forced asset sales.
Read all positive factors
Makuake, Inc. (4479) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥11.50B
Dividend YieldN/A
Average Volume (3M)67.53K
Price to Earnings (P/E)14.3
Beta (1Y)0.71
Revenue Growth38.93%
EPS Growth191.23%
CountryJP
Employees165
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)31.93
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 provides support services for new business development and human resource development; displays and sells products; and operates a shopping site that sells finished products to ...
How the Company Makes Money
Makuake, Inc. generates revenue primarily by operating its crowdfunding platform and charging fees tied to fundraising and transactions conducted through the platform. Key revenue streams include (1) platform service fees collected from project cr...
Makuake, Inc. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
83
Very Positive
Cash Flow
66
Positive
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.58B | 3.65B | 3.81B | 4.21B | 4.62B |
| Gross Profit | 3.44B | 2.78B | 3.06B | 3.36B | 3.81B |
| EBITDA | 625.03M | 56.21M | -454.00M | -152.00M | 437.61M |
| Net Income | 407.26M | -103.60M | -491.08M | -1.35B | 246.64M |
Balance Sheet | |||||
| Total Assets | 7.45B | 6.65B | 7.96B | 8.26B | 10.33B |
| Cash, Cash Equivalents and Short-Term Investments | 5.97B | 5.06B | 6.41B | 7.32B | 8.59B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.03B | 1.63B | 2.85B | 2.68B | 3.46B |
| Stockholders Equity | 5.42B | 5.01B | 5.11B | 5.58B | 6.87B |
Cash Flow | |||||
| Free Cash Flow | 971.17M | -1.10B | -921.82M | -1.34B | -161.97M |
| Operating Cash Flow | 985.08M | -1.09B | -339.22M | -827.32M | 151.41M |
| Investing Cash Flow | -81.42M | -276.71M | -582.12M | -475.79M | -586.41M |
| Financing Cash Flow | 4.50M | 18.51M | 14.01M | 33.66M | 3.92B |
Makuake, Inc. Technical Analysis
Neutral
856.00
Price Trends
987.48
Negative
975.42
Negative
962.04
Negative
Market Momentum
-28.99
Negative
49.95
Neutral
85.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4479, the sentiment is Neutral. The current price of 856 is below the 20-day moving average (MA) of 887.60, below the 50-day MA of 987.48, and below the 200-day MA of 962.04, indicating a neutral trend. The MACD of -28.99 indicates Negative momentum. The RSI at 49.95 is Neutral, neither overbought nor oversold. The STOCH value of 85.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4479.
Makuake, Inc. Peers Comparison
UnderperformOutperform
Sector (68)
JP:4479
Makuake, Inc.
887.00
175.00
24.58%
JP:2998
CREAL Inc.
494.00
-651.41
-56.87%
JP:3266
Fund Creation Group Co., Ltd.
82.00
-0.04
-0.05%
JP:4310
Dream Incubator Inc.
2,636.00
9.70
0.37%
Makuake, Inc. Corporate Events
Makuake Posts Surging First-Half Profits and Raises Full-Year Outlook
Apr 28, 2026
Makuake, Inc. reported strong non-consolidated results for the six months ended March 31, 2026, with net sales rising 37.2% year on year to ¥2.81 billion and operating profit more than doubling to ¥568 million. Profit increased 95.4% to ...
Makuake Lifts Full-Year Profit and Sales Outlook on Strong Demand and Cost Controls
Apr 28, 2026
Makuake, Inc. revised its full-year forecast for the fiscal year ending September 2026, projecting net sales of ¥5.4 billion, up 13.4% from its previous outlook, driven by robust transaction growth in home appliances and gadgets and rising de...
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.