Base Co., Ltd. (JP:4481)
:4481
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Base Co., Ltd.
(4481)
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Rating:78Outperform
Price Target:
¥3,694.00
▲(12.28% Upside)
Action:Reiterated
Date:02/18/26
The score is driven primarily by strong financial performance (high profitability, near debt-free balance sheet, and solid cash conversion). Valuation is also favorable with a moderate P/E and healthy dividend yield. Technical indicators are the main offset, showing weaker longer-term trend and negative MACD despite a modest short-term recovery.
Positive Factors
Recurring SaaS revenue model
A subscription-based SaaS model creates durable, predictable recurring revenue and higher customer lifetime value versus one-off sales. This supports steady cash flows, easier forecasting, and opportunities for upsell/expansion within accounts, underpinning margin sustainability and long-term profitability.
Negative Factors
2025 growth spike sustainability
An atypical, large one-year growth surge raises execution and comparability risk: sustaining such a jump is difficult, and normalization would pressure future top-line growth rates and investor expectations. Planning, resource allocation and margin assumptions may need revision if growth reverts.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS revenue model
A subscription-based SaaS model creates durable, predictable recurring revenue and higher customer lifetime value versus one-off sales. This supports steady cash flows, easier forecasting, and opportunities for upsell/expansion within accounts, underpinning margin sustainability and long-term profitability.
Read all positive factors
Base Co., Ltd. (4481) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥57.84B
Dividend Yield3.34%
Average Volume (3M)28.66K
Price to Earnings (P/E)14.3
Beta (1Y)0.91
Revenue Growth3.30%
EPS Growth2.50%
CountryJP
Employees1,243
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)229.37
Shares Outstanding18,810,000
10 Day Avg. Volume25,960
30 Day Avg. Volume28,663
Financial Highlights & Ratios
PEG Ratio1.30
Price to Book (P/B)4.14
Price to Sales (P/S)2.71
P/FCF Ratio13.22
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)250.9
Revenue Forecast (FY)¥24.00B
Base Co., Ltd. Business Overview & Revenue Model
Company Description
Base Co., Ltd. engages in the computer software development and related work in Japan. The company offers services in the areas of system integration, ERP solutions, ICT solutions, and other solutions. BASE CO., LTD. was incorporated in 1997 and i...
How the Company Makes Money
Base Co., Ltd. generates revenue through a combination of subscription fees for its platform services and transaction fees on sales made through its e-commerce platform. The company offers various pricing plans that cater to different business siz...
Base Co., Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.58B | 21.79B | 20.23B | 18.71B | 17.05B | 13.29B |
| Gross Profit | 7.00B | 7.05B | 6.46B | 5.83B | 4.91B | 3.90B |
| EBITDA | 5.77B | 5.77B | 5.25B | 4.73B | 3.94B | 3.08B |
| Net Income | 4.26B | 4.22B | 3.87B | 3.43B | 2.73B | 2.13B |
Balance Sheet | ||||||
| Total Assets | 17.91B | 18.92B | 17.86B | 16.40B | 14.63B | 11.51B |
| Cash, Cash Equivalents and Short-Term Investments | 12.22B | 13.02B | 11.62B | 10.55B | 10.19B | 7.49B |
| Total Debt | 0.00 | 0.00 | 0.00 | 11.94M | 92.88M | 266.15M |
| Total Liabilities | 3.36B | 4.30B | 4.27B | 3.94B | 4.03B | 2.93B |
| Stockholders Equity | 14.22B | 14.25B | 13.23B | 12.15B | 10.33B | 8.37B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.46B | 3.86B | 3.24B | 3.64B | 1.39B |
| Operating Cash Flow | 0.00 | 4.46B | 3.88B | 3.28B | 3.67B | 1.44B |
| Investing Cash Flow | 0.00 | 52.99M | 52.59M | -1.20B | -38.20M | -116.80M |
| Financing Cash Flow | 0.00 | -3.22B | -2.92B | -1.75B | -948.99M | -1.06B |
Base Co., Ltd. Technical Analysis
Negative
3290.00
Price Trends
3254.40
Negative
3223.70
Negative
3322.50
Negative
Market Momentum
-44.91
Positive
37.93
Neutral
34.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4481, the sentiment is Negative. The current price of 3290 is above the 20-day moving average (MA) of 3222.75, above the 50-day MA of 3254.40, and below the 200-day MA of 3322.50, indicating a bearish trend. The MACD of -44.91 indicates Positive momentum. The RSI at 37.93 is Neutral, neither overbought nor oversold. The STOCH value of 34.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4481.
Base Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | ¥46.23B | 15.53 | ― | 1.92% | 10.70% | 13.33% | |
78 Outperform | ¥57.84B | 14.26 | ― | 3.34% | 3.30% | 2.50% | |
77 Outperform | ¥70.48B | 14.80 | 31.71% | 1.68% | 17.64% | 47.00% | |
67 Neutral | ¥103.17B | 45.66 | ― | 0.72% | 18.27% | 189.01% | |
64 Neutral | ¥30.90B | 15.62 | ― | ― | 32.07% | 349.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | ¥32.47B | 36.79 | ― | ― | 18.09% | -50.60% |
* Technology Sector Average
JP:4481
Base Co., Ltd.
3,075.00
-39.40
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Base Co., Ltd. Corporate Events
Base Co. Forms AI Promotion Office to Drive Shift Toward IT Services
Feb 13, 2026
Base Co., Ltd. has established an AI Promotion Office under its System Headquarters, effective February 13, 2026, as part of a broader strategic push toward digital transformation. The new unit is tasked with driving AI empowerment throughout the ...
Base Co., Ltd. Confirms Director Lineup and Elevates AI Oversight in Executive Reshuffle
Feb 13, 2026
Base Co., Ltd. announced changes in its leadership structure following a February 13, 2026 board meeting, confirming that current Representative Director and President Katsunari Nakayama will be reappointed, together with Senior Vice President Dir...
Base Co., Ltd. Raises Payout and Plans 30th Anniversary Commemorative Dividends
Feb 13, 2026
Base Co., Ltd. has approved a year-end dividend of 60 yen per share for the fiscal year ended December 31, 2025, unchanged from its prior forecast and up from 52 yen a year earlier. This brings the total annual dividend for 2025 to 117 yen per sha...
Base Co., Ltd. Posts Higher Profits and Dividends, Forecasts Further Growth for 2026
Feb 13, 2026
Base Co., Ltd. reported consolidated net sales of ¥21.8 billion for the fiscal year ended December 31, 2025, up 7.7% year on year, with operating profit rising 10.0% to ¥5.7 billion and profit attributable to owners of parent increasing ...
Base Co., Ltd. Completes Share Repurchase
Dec 3, 2025
Base Co., Ltd. has completed the acquisition of its own shares, purchasing 15,000 shares at a total cost of 49,909,000 yen through market purchases on the Tokyo Stock Exchange. This acquisition is part of a broader strategy authorized by the Board...
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.