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note inc.
(5243)
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Rating:58Neutral
Price Target:
¥2,158.00
▲(32.23% Upside)
Action:Downgraded
Date:06/05/26
The score is anchored by improving fundamentals and a profitability/cash-flow turnaround, but is held back by weak technical momentum (price below all key moving averages with negative MACD) and a high P/E that leaves less margin for error.
Positive Factors
Revenue and profitability turnaround
Sustained revenue acceleration and the shift to operating profit indicate the business has found scalable product-market fit. A durable move to positive operating earnings supports reinvestment, covers fixed costs, and reduces reliance on external financing over the next several quarters.
Negative Factors
Operating margins still modest
The gap between very high gross margins and only modest operating margins suggests elevated SG&A or investment intensity. If cost discipline slips or revenue growth slows, operating profitability could be fragile, limiting durable free cash flow expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability turnaround
Sustained revenue acceleration and the shift to operating profit indicate the business has found scalable product-market fit. A durable move to positive operating earnings supports reinvestment, covers fixed costs, and reduces reliance on external financing over the next several quarters.
Read all positive factors
note inc. (5243) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥40.19B
Dividend YieldN/A
Average Volume (3M)379.15K
Price to Earnings (P/E)48.1
Beta (1Y)1.02
Revenue Growth27.05%
EPS Growth495.56%
CountryJP
Employees158
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)26.45
Shares Outstanding19,368,800
10 Day Avg. Volume278,790
30 Day Avg. Volume379,153
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)8.93
Price to Sales (P/S)6.21
P/FCF Ratio65.39
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)25.2
Revenue Forecast (FY)¥4.90B
note inc. Business Overview & Revenue Model
Company Description
note inc. engages in the media platform, and IP content and content creation business in Japan. The company offers note, a C2C content platform that allows creators to create, publish, and sell digital content while communicating with users; note ...
note inc. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
69
Positive
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.14B | 3.31B | 2.78B | 2.32B | 1.88B |
| Gross Profit | 3.88B | 3.11B | 2.56B | 2.08B | 1.63B |
| EBITDA | 277.08M | 86.15M | -398.79M | -733.26M | -418.75M |
| Net Income | 440.64M | 98.94M | -414.84M | -756.49M | -436.17M |
Balance Sheet | |||||
| Total Assets | 6.15B | 3.77B | 3.31B | 3.30B | 1.75B |
| Cash, Cash Equivalents and Short-Term Investments | 3.06B | 2.15B | 1.99B | 2.19B | 872.08M |
| Total Debt | 682.50M | 80.00M | 160.00M | 160.00M | 160.00M |
| Total Liabilities | 3.27B | 2.05B | 1.75B | 1.49B | 1.18B |
| Stockholders Equity | 2.88B | 1.72B | 1.56B | 1.82B | 574.11M |
Cash Flow | |||||
| Free Cash Flow | 393.29M | 0.00 | -358.94M | -683.10M | -652.22M |
| Operating Cash Flow | 393.29M | 225.76M | -346.58M | -660.12M | -646.87M |
| Investing Cash Flow | -747.80M | -9.77M | -12.78M | -23.45M | -5.35M |
| Financing Cash Flow | 1.24B | -38.14M | 158.93M | 2.00B | 0.00 |
note inc. Technical Analysis
Positive
1632.00
Price Trends
2052.36
Positive
2225.51
Negative
1938.99
Positive
Market Momentum
-16.16
Negative
61.47
Neutral
88.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5243, the sentiment is Positive. The current price of 1632 is below the 20-day moving average (MA) of 1794.25, below the 50-day MA of 2052.36, and below the 200-day MA of 1938.99, indicating a bullish trend. The MACD of -16.16 indicates Negative momentum. The RSI at 61.47 is Neutral, neither overbought nor oversold. The STOCH value of 88.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5243.
note inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥32.78B | 13.45 | ― | 0.38% | 19.28% | 113.68% | |
61 Neutral | ¥19.82B | 19.82 | ― | ― | 30.78% | 5.61% | |
60 Neutral | ¥8.75B | 42.49 | 4.78% | ― | -8.38% | -78.30% | |
58 Neutral | ¥40.19B | 48.06 | ― | ― | 27.05% | 495.56% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ¥6.54B | 20.05 | ― | ― | 13.61% | 19.71% | |
44 Neutral | ¥3.54B | -4.94 | ― | ― | -5.45% | -347.30% |
* General Sector Average
JP:5243
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note inc. Corporate Events
Note inc. Posts Strong Q1 on AI-Driven Efficiency, Holds Full-Year Outlook
May 11, 2026
Note inc. reported strong first-quarter results for the fiscal year ending November 2026, with net sales rising 27.3% year-on-year to 1.218 billion yen and adjusted EBITDA surging over twelvefold to 255 million yen. Operating profit expanded sharp...
Note Inc. Sets Terms for New Stock Options to Subsidiary Executives
Apr 30, 2026
Note Inc. has set the detailed terms for a new issuance of stock acquisition rights, to be used as stock options for a director and an employee of its subsidiaries, following a board resolution passed on April 14, 2026. The company will issue 300 ...
Note Inc. CEO Trims Stake to Boost Liquidity Ahead of Prime Market Aims
Apr 22, 2026
Note Inc. disclosed that founder and CEO Sadaaki Kato sold 550,000 shares, representing 2.84% of the company’s 19,335,800 issued shares, through on-market transactions executed on April 15, 2026. His stake fell from 29.15% to 26.31%, but he ...
Note Inc. Issues New Stock Options to Align Subsidiaries With Long-Term Growth
Apr 16, 2026
Note inc. has approved the issuance of its 19th series stock acquisition rights as stock options to directors and employees of its subsidiaries, aiming to strengthen incentives tied to stock price appreciation and long-term business performance. T...
Note inc. Delivers Profit Surge in Q1 and Confirms Strong FY2026 Outlook
Apr 14, 2026
Note inc. reported strong growth for the first quarter of the fiscal year ending November 2026, with net sales rising 27.3% year on year to ¥1,218 million and a sharp improvement in profitability. Adjusted EBITDA surged to ¥255 million a...
note inc. Sets Q1 FY2026 Results and Deepens Ties with KADOKAWA
Apr 14, 2026
note inc. reported its financial results for the first quarter of the fiscal year ending November 2026 and outlined its unchanged full-year earnings forecast, signaling confidence in its current business trajectory. The company also announced a ca...
Note Inc. Completes ¥2.2 Billion Third-Party Share Allotment to KADOKAWA
Apr 9, 2026
Note Inc. has completed payment for a third-party allotment of 1,000,000 new shares to KADOKAWA CORPORATION, raising ¥2.212 billion at an issue price of ¥2,212 per share as part of their previously announced capital and business alliance...
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.