TRaaS On Product Inc. (6696) AI Stock Analysis

• Market Cap: ¥1.67B
• Dividend Yield: N/A
• Average Volume (3M): 123.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: 10.83%
• EPS Growth: -1827.49%
• Country: JP
• Employees: 45
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): -5.14
• Shares Outstanding: 4,826,991
• 10 Day Avg. Volume: 29,890
• 30 Day Avg. Volume: 123,806
• PEG Ratio: 0.01
• Price to Book (P/B): 5.40
• Price to Sales (P/S): 3.90
• P/FCF Ratio: -57.03
• 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: 50 Neutral
• Price Target: ¥383.00 ▲(25.99% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held back primarily by weak financial performance—ongoing profitability challenges and a shift back to negative operating and free cash flow. Technical signals are modestly supportive (positive MACD, neutral RSI), but valuation remains unattractive due to losses (negative P/E) and no dividend support.

Positive Factors

Revenue Growth

An 18.1% revenue rebound signals sustained demand for the company’s TRaaS solutions across customers and verticals. Over 2–6 months this supports recurring subscription and transaction fee streams, improves unit economics if retained, and provides a base for scaling fixed-cost absorption and future margin recovery.

Negative Factors

Return to Losses

Swinging back into negative operating and net margins indicates the business is not consistently converting revenue into sustainable profits. Persisting losses erode equity, limit reinvestment capacity, and increase reliance on external funding, undermining long-term competitiveness if uncorrected.

TRaaS On Product Inc. Business Overview & Revenue Model

Company Description

TRaaS On Product Inc. manufactures and sells various devices to connect people and things with AI and IoT digital technologies. The company offers SHISA, an automatic check-in system for lodging personal equipment with personal identification func...

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TRaaS On Product Inc. manufactures and sells various devices to connect people and things with AI and IoT digital technologies. The company offers SHISA, an automatic check-in system for lodging personal equipment with personal identification func...

How the Company Makes Money

TRaaS On Product Inc. generates revenue primarily through subscription fees for its transactional services and software solutions, which are offered to businesses on a recurring basis. Key revenue streams include transaction fees for every payment...

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TRaaS On Product Inc. generates revenue primarily through subscription fees for its transactional services and software solutions, which are offered to businesses on a recurring basis. Key revenue streams include transaction fees for every payment...

TRaaS On Product Inc. Financial Statement Overview

Breakdown	TTM	Jan 2026	Jan 2025	Jan 2024	Jan 2023	Jan 2022
Income Statement
Total Revenue	341.15M	485.94M	411.49M	310.96M	496.49M	404.57M
Gross Profit	178.47M	222.10M	237.74M	169.16M	235.23M	81.21M
EBITDA	-49.09M	3.19M	29.51M	-67.32M	-8.14M	-436.91M
Net Income	-57.36M	-61.63M	2.35M	-85.81M	-16.80M	-517.84M
Balance Sheet
Total Assets	502.56M	564.30M	542.47M	513.34M	527.91M	298.88M
Cash, Cash Equivalents and Short-Term Investments	350.75M	279.25M	314.85M	330.10M	388.68M	120.10M
Total Debt	60.00M	151.67M	60.00M	60.23M	158.62M	61.98M
Total Liabilities	90.98M	213.39M	130.40M	105.23M	200.01M	89.71M
Stockholders Equity	411.58M	350.92M	412.07M	408.11M	327.90M	209.17M
Cash Flow
Free Cash Flow	0.00	-33.25M	24.39M	-128.24M	-1.29M	-301.06M
Operating Cash Flow	0.00	-29.89M	28.02M	-72.56M	18.13M	-263.08M
Investing Cash Flow	0.00	-97.85M	-45.20M	-53.96M	24.25M	89.46M
Financing Cash Flow	0.00	92.15M	1.39M	67.83M	225.22M	-40.08M

TRaaS On Product Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 304.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6696, the sentiment is Negative. The current price of 304 is below the 20-day moving average (MA) of 388.50, below the 50-day MA of 372.26, and below the 200-day MA of 417.81, indicating a bearish trend. The MACD of -6.65 indicates Positive momentum. The RSI at 41.74 is Neutral, neither overbought nor oversold. The STOCH value of 13.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6696.

TRaaS On Product Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6718	81 Outperform	¥42.76B	71.35	―	4.43%	0.63%	-24.87%
6820	70 Outperform	¥42.73B	14.45	―	2.93%	-0.90%	-13.24%
6703	70 Outperform	¥227.85B	6.34	12.24%	2.31%	-2.36%	-61.50%
6835	68 Neutral	¥26.78B	9.33	14.95%	0.77%	6.43%	368.06%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
6696	50 Neutral	¥1.67B	-30.77	―	―	10.83%	-1827.49%
6778	50 Neutral	¥5.81B	5.26	―	3.54%	19.28%	―