Success Holders, Inc. (4833) AI Stock Analysis

• Market Cap: ¥5.08B
• Dividend Yield: N/A
• Average Volume (3M): 2.22M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: 26.55%
• EPS Growth: -49.99%
• Country: JP
• Employees: 142
• Sector: Communication Services
• Sector Strength: 97
• Industry: Publishing
• EPS (TTM): -20.99
• Shares Outstanding: 72,602,010
• 10 Day Avg. Volume: 2,473,360
• 30 Day Avg. Volume: 2,223,903
• PEG Ratio: -0.16
• Price to Book (P/B): 7.50
• Price to Sales (P/S): 3.74
• P/FCF Ratio: -4.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: ¥68.00 ▼(-27.66% Downside)
• Action: Reiterated Date: 02/10/26
• Date: Action: Reiterated 02/10/26

The score is constrained primarily by weak financial performance—persistent large losses and ongoing negative operating/free cash flow with increasing cash burn—despite low balance-sheet leverage. Technicals also remain soft with the stock below major long-term moving averages, while valuation signals are limited due to the negative P/E and no dividend yield data.

Positive Factors

Low leverage / no debt

Effectively no debt lowers refinancing and interest-rate risk and reduces fixed financing costs. This balance-sheet flexibility gives management durable optionality to fund restructurings, extend runway or invest selectively while working to restore profitability.

Recent revenue rebound

A measurable revenue rebound in 2025 after multi-year contraction signals improving demand or successful commercial adjustments. If sustained, this top-line momentum can enable operating leverage, support margin recovery, and materially improve long-term earnings prospects.

Cash losses reflect true cash impact

Losses that flow through to operating and free cash flow indicate transparent earnings quality rather than accounting-only shortfalls. This clarity helps management and investors reliably assess runway, plan capital raises, and prioritize structural cost or portfolio changes.

Negative Factors

Persistent negative cash flow

Consistent negative operating and free cash flow, worsening in 2025, materially shortens the company's financial runway. Ongoing cash consumption forces external financing or asset disposals, constrains investment, and increases execution risk for any turnaround plans.

Deep, sustained losses and weak margins

Very large operating and net losses and a deeply negative net margin show the core business currently lacks profitability. Persistent poor margins erode returns, limit reinvestment capability, and make sustainable recovery dependent on significant structural changes or cost reductions.

Eroding equity base

Significant declines in shareholder equity reduce the company's loss-absorption buffer and limit borrowing capacity. A shrinking capital base increases insolvency and dilution risk, making long-term recovery more difficult without successful operational turnaround or external recapitalization.

Success Holders, Inc. Business Overview & Revenue Model

Company Description

Def Consulting, Inc. engages in the design, planning, publication, and distribution of Pado magazines, advertisements, and promotional materials. It also manages web sites and provides application service provider (ASP) services. The company was founded on August 20, 1987 and is headquartered in Tokyo, Japan.

Success Holders, Inc. Financial Statement Overview

Summary

Operating performance is weak: revenues have contracted materially over multiple years with only a partial rebound, profitability remains deeply negative (large operating and net losses), and cash flow is consistently negative with worsening cash burn in 2025. The main offsetting positive is low leverage with effectively no debt, but sustained losses are eroding equity.

Income Statement

Revenue has been volatile, with a sharp multi-year contraction from 2020 to 2024 and only a partial rebound in 2025. Profitability remains weak: gross margin has compressed materially versus earlier years and the company is consistently deeply unprofitable, with very large operating and net losses (2025 net margin roughly -69%). The key positive is the latest-year revenue growth, but it has not translated into improved earnings power.

Balance Sheet

Leverage is low (effectively no debt in 2024–2025), which reduces financial risk and gives the company flexibility. However, equity has declined significantly over time (notably from 2024 to 2025), and returns on equity are strongly negative, reflecting ongoing losses that are eroding the capital base. Overall, the balance sheet is not debt-stressed, but it is weakening due to sustained unprofitability.

Cash Flow

Cash generation is a major concern: operating cash flow and free cash flow are negative in every year provided, indicating the business is consuming cash rather than producing it. Cash burn intensified in 2025 versus 2024 (both operating and free cash flow moved more negative), and free cash flow growth turned sharply negative in 2025. While free cash flow tracks net losses (i.e., losses are not just accounting), the lack of positive operating cash flow reduces financial resilience.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.21B	619.68M	532.35M	620.41M	1.53B	1.83B
Gross Profit	403.23M	43.12M	53.90M	110.35M	509.33M	561.43M
EBITDA	-357.50M	-422.97M	-300.44M	-399.08M	-364.06M	-749.70M
Net Income	-359.12M	-427.94M	-311.54M	-521.80M	-417.75M	-905.56M
Balance Sheet
Total Assets	1.56B	429.89M	841.23M	622.05M	1.48B	2.16B
Cash, Cash Equivalents and Short-Term Investments	990.40M	183.02M	656.18M	486.05M	891.44M	1.82B
Total Debt	17.81M	0.00	0.00	4.26M	15.91M	63.17M
Total Liabilities	430.41M	121.06M	104.37M	73.56M	410.29M	680.65M
Stockholders Equity	1.13B	308.83M	736.85M	548.50M	1.07B	1.48B
Cash Flow
Free Cash Flow	0.00	-483.61M	0.00	-421.76M	-595.73M	-751.69M
Operating Cash Flow	0.00	-441.95M	-266.33M	-421.76M	-593.07M	-731.38M
Investing Cash Flow	0.00	-31.21M	-60.36M	27.40M	-349.14M	731.86M
Financing Cash Flow	0.00	0.00	496.82M	-11.03M	-38.17M	913.02M

Success Holders, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 94.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4833, the sentiment is Negative. The current price of 94 is above the 20-day moving average (MA) of 73.45, above the 50-day MA of 85.02, and below the 200-day MA of 104.76, indicating a bearish trend. The MACD of -2.52 indicates Negative momentum. The RSI at 43.60 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4833.

Success Holders, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2481	75 Outperform	¥3.75B	10.37	―	2.95%	1.41%	-6.45%
7849	74 Outperform	¥15.24B	10.61	―	3.16%	-7.41%	-17.57%
3678	72 Outperform	¥24.93B	22.08	―	2.01%	6.10%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
9475	58 Neutral	¥9.91B	14.53	―	1.06%	0.02%	-88.78%
9468	52 Neutral	¥428.21B	162.08	―	0.98%	1.96%	-45.28%
4833	44 Neutral	¥5.08B	-1.08	―	―	26.55%	-49.99%