i-mobile Co., Ltd. (6535) AI Stock Analysis

• Market Cap: ¥29.94B
• Dividend Yield: 5.35%
• Average Volume (3M): 330.86K
• Price to Earnings (P/E): 13.1
• Beta (1Y): 0.75
• Revenue Growth: 58.08%
• EPS Growth: 29.89%
• Country: JP
• Employees: 219
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): 0.76
• Shares Outstanding: 58,147,186
• 10 Day Avg. Volume: 142,650
• 30 Day Avg. Volume: 330,863
• PEG Ratio: 0.54
• Price to Book (P/B): 2.19
• Price to Sales (P/S): 1.65
• P/FCF Ratio: 8.66
• 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: 75 Outperform
• Price Target: ¥567.00 ▲(13.40% Upside)

The score is driven primarily by strong financial quality (notably a debt-free balance sheet and solid profitability) and supportive valuation (moderate P/E and high dividend yield). These are partially offset by weak technicals, with the price below key moving averages and negative MACD indicating bearish momentum.

Positive Factors

Management Restructuring

The new management structure aims to enhance agility and decision-making, potentially improving strategic execution and long-term corporate value.

Revenue Growth

Strong revenue growth indicates robust demand for i-mobile's services, suggesting effective market positioning and potential for sustained expansion.

Debt-Free Balance Sheet

A debt-free balance sheet enhances financial flexibility and reduces solvency risk, supporting long-term business stability and investment capacity.

Negative Factors

Profit Decline

The sharp decline in profits despite revenue growth suggests underlying cost or operational challenges, which could impact long-term profitability.

Margin Compression

Margin compression indicates rising costs or pricing pressures, which could limit profitability and affect competitive positioning over time.

Uneven Cash Flow

Inconsistent cash flow generation may signal volatility in operations or working capital management, potentially impacting financial stability.

i-mobile Co., Ltd. Business Overview & Revenue Model

Company Description

i-mobile Co., Ltd. provides Internet advertising platform for clients to advertise their product and for publishers to monetize their cyberspace in Japan. The company was incorporated in 2007 and is based in Tokyo, Japan.

How the Company Makes Money

i-mobile Co., Ltd. makes money primarily through the sale of its mobile devices, which include smartphones and feature phones. The company generates revenue by designing, manufacturing, and distributing these devices to consumers and retailers. Additionally, i-mobile may engage in partnerships with telecommunications carriers to bundle their devices with service plans, thus expanding their market reach and enhancing sales. The company's earnings are significantly influenced by its ability to innovate and offer competitive pricing, which helps it maintain a strong presence in the mobile telecommunications sector.

i-mobile Co., Ltd. Financial Statement Overview

Summary

Strong overall fundamentals supported by solid revenue growth and profitability, a very conservative balance sheet with zero debt, and generally positive operating/free cash flow. Offsetting factors include some margin compression versus the 2022 peak and uneven free cash flow/growth across years.

Income Statement

Revenue has expanded strongly over the last several years (from 2023–2025 annual reports), highlighted by a sharp step-up in the latest year, while profitability remains solid with healthy operating and net margins. However, margins have compressed versus the 2022 peak, and the business shows some historical volatility in growth (notably the declines in 2020 and 2022), which tempers the score.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across the periods provided, supporting strong financial flexibility and lowering solvency risk. Equity and assets have grown steadily, and returns on equity have been consistently healthy, though they fluctuate year-to-year (peaking around 2022 and moderating afterward).

Cash Flow

Operating cash flow and free cash flow are consistently positive and relatively high versus earnings, indicating good cash conversion and financial quality. That said, free cash flow has been uneven year-to-year (including declines in 2022 and 2024), and operating cash flow has not consistently kept pace with profitability based on the provided operating cash flow coverage figures, suggesting some working-capital or timing volatility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	21.53B	21.53B	18.73B	16.43B	13.93B	17.83B
Gross Profit	21.39B	21.50B	18.70B	16.40B	13.92B	11.64B
EBITDA	4.59B	4.36B	3.80B	3.71B	3.96B	3.54B
Net Income	2.96B	2.96B	2.42B	2.40B	2.68B	2.30B
Balance Sheet
Total Assets	27.26B	27.26B	24.49B	21.72B	18.19B	18.99B
Cash, Cash Equivalents and Short-Term Investments	20.50B	20.50B	18.60B	16.22B	14.27B	15.42B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	11.04B	11.04B	8.86B	7.64B	4.79B	4.27B
Stockholders Equity	16.22B	16.22B	15.63B	14.08B	13.40B	14.72B
Cash Flow
Free Cash Flow	0.00	4.11B	3.33B	4.04B	3.11B	3.89B
Operating Cash Flow	0.00	4.82B	3.79B	4.39B	3.23B	3.96B
Investing Cash Flow	0.00	-3.62B	-747.00M	-378.00M	-234.00M	-83.11M
Financing Cash Flow	0.00	-2.30B	-683.00M	-2.06B	-4.14B	-817.01M

i-mobile Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 500.00
• 50DMA: Positive
• 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:6535, the sentiment is Positive. The current price of 500 is below the 20-day moving average (MA) of 512.60, below the 50-day MA of 516.06, and below the 200-day MA of 577.51, indicating a neutral trend. The MACD of 0.78 indicates Negative momentum. The RSI at 53.21 is Neutral, neither overbought nor oversold. The STOCH value of 39.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6535.

i-mobile Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2491	79 Outperform	¥20.91B	28.79	―	7.85%	-3.20%	34.08%
6535	75 Outperform	¥29.94B	13.11	―	5.35%	58.08%	29.89%
2461	69 Neutral	¥32.03B	22.33	―	5.08%	3.22%	13.97%
7095	66 Neutral	¥21.53B	8.08	―	2.01%	15.43%	12.47%
2148	62 Neutral	¥34.54B	23.99	―	6.44%	2.09%	-2.15%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
4499	50 Neutral	¥28.74B	-29.98	―	―	4.53%	-464.41%

i-mobile Co., Ltd. Corporate Events

i-mobile Co., Ltd. Records Deferred Tax Benefit in Q1 Financials

i-mobile Co., Ltd. has announced the recording of an income taxes deferred benefit amounting to 1,494 million yen for the three months ending October 31, 2025. This adjustment, reflecting the company’s evaluation of its deferred tax assets’ recoverability, has been incorporated into its consolidated financial results, potentially impacting its financial positioning and stakeholder perceptions.

i-mobile Reports Surge in Sales but Decline in Profits for Q3 2025

i-mobile Co., Ltd. reported a significant increase in net sales for the three months ending October 31, 2025, with a 129.7% year-on-year growth. However, the company experienced a substantial decline in profits, with operating profit dropping by 99.2% and ordinary profit by 96.0%. This decline in profitability is attributed to various factors impacting the company’s financial performance, despite the increase in sales. The company also announced no changes to its earnings forecast for the fiscal year ending July 31, 2026, indicating a cautious outlook amidst challenging market conditions.

i-mobile Co., Ltd. Restructures Management for Enhanced Agility

i-mobile Co., Ltd. has announced changes to its management structure to enhance corporate value and agility in decision-making. The new structure delegates operational authority to an ‘Executive Meeting’ of officers, aiming for quicker decisions and flexible strategies, while the Board of Directors focuses on high-level strategy and governance. This change is intended to boost sustainable corporate value and maximize shareholder interests.

i-mobile Completes Treasury Share Allotment for Compensation

i-mobile Co., Ltd. announced the completion of its allotment of treasury shares as restricted share-based compensation. This move involves the disposal of 23,700 common shares at a price of 609 yen per share, totaling 14,433,300 yen, to its directors and executive officers, aiming to align their interests with the company’s performance.

i-mobile Reports Growth in Hometown Tax Donations Amid Regulatory Changes

i-mobile Co., Ltd. has reported significant growth in donor activity on its Furunavi platform as of September 2025, driven by increased demand and strategic promotional efforts. Despite regulatory changes to the Hometown Tax system, the company remains committed to stabilizing demand and expanding the market by enhancing its platform and collaborating with government and local entities to support regional revitalization. The company continues to focus on sustainable growth and social contributions through initiatives like providing Christmas cakes and rice support to single-parent families.

i-mobile Co., Ltd. Announces Treasury Share Disposal for Compensation Plan

i-mobile Co., Ltd. announced the disposal of treasury shares as part of a revised Restricted Share-Based Compensation Plan aimed at promoting stock ownership among directors and executive officers. This move is intended to align the interests of management with shareholders, enhance long-term corporate value, and support sustainable growth.

i-mobile Co., Ltd. Announces New Management Structure

i-mobile Co., Ltd. announced a new management structure following its 18th Annual General Meeting of Shareholders. The company aims to strengthen its supervisory and monitoring functions by promoting a clear separation between management and execution. This restructuring includes the reappointment of key directors and executive officers, which is expected to enhance the execution of business strategies and organizational management.