Bleach, Inc. (9162) AI Stock Analysis

• Market Cap: ¥6.38B
• Dividend Yield: N/A
• Average Volume (3M): 66.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.88
• Revenue Growth: 26.73%
• EPS Growth: N/A
• Country: JP
• Employees: 93
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): -2.30
• Shares Outstanding: 25,731,800
• 10 Day Avg. Volume: 57,180
• 30 Day Avg. Volume: 66,480
• PEG Ratio: -0.19
• Price to Book (P/B): 0.96
• Price to Sales (P/S): 0.53
• P/FCF Ratio: 39.33
• 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: 61 Neutral
• Price Target: ¥262.00 ▼(-6.76% Downside)
• Action: Reiterated Date: 11/18/25
• Date: Action: Reiterated 11/18/25

Bleach, Inc. shows strong financial recovery with improved revenue and cash flow, but faces challenges in profitability margins. The technical indicators suggest a bearish trend, impacting the stock's attractiveness. Valuation is moderate, with no dividend yield to entice income-focused investors.

Positive Factors

Revenue Growth

Sustained ~17% revenue growth indicates structurally improving demand and successful client wins in the core advertising business. Over 2–6 months this supports higher recurring billing, better utilization of fixed costs, and provides a foundation for margin recovery as scale rises.

Cash Flow Turnaround

The shift to positive free cash flow and OCF/Net Income >1 demonstrates stronger cash conversion and operational discipline. Durable cash generation improves funding for growth, reduces refinancing risk, and enables reinvestment or debt reduction over coming quarters.

Low Leverage / Strong Balance Sheet

Low leverage (D/E 0.19) gives the company financial flexibility and resilience to demand cycles. A conservative capital structure supports strategic investments and lowers default risk, allowing management to prioritize margin improvement and selective expansion.

Negative Factors

Low Net Margin

A net margin around 1.8% leaves limited headroom to absorb cost inflation or client pricing pressure. Persistently slim margins constrain retained earnings and capital available for reinvestment, making sustainable profitability dependent on continued scale gains and cost optimization.

Low Return on Equity

ROE near 3% signals modest effectiveness converting equity into earnings. Over months this implies shareholders get limited returns absent material margin expansion or higher asset turnover, pressuring long-term return expectations versus peers.

Moderate Asset Utilization

A high equity ratio can indicate conservative financing but also signals underlevered balance sheet and suboptimal asset deployment. Without higher asset turnover or targeted investments, growth may not translate into proportionate earnings uplift over the medium term.

Bleach, Inc. Business Overview & Revenue Model

Company Description

Bleach, Inc. engages in the revenue sharing-type internet marketing business in Japan. It also provides marketing support services, including building marketing strategies, advertising production, and advertising operations. The company was incorporated in 2010 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Bleach, Inc. Financial Statement Overview

Summary

Bleach, Inc. demonstrates a strong recovery trajectory with significant improvements in revenue growth and cash flow generation. The balance sheet is more robust with reduced leverage, although profitability margins can be further enhanced. The company is well-positioned for future growth, but continued focus on improving net profit margins and asset utilization will be crucial.

Income Statement

Bleach, Inc. has shown strong revenue growth of 16.94% in the latest year, indicating a positive trend. The gross profit margin improved significantly from the previous year, reflecting better cost management. However, the net profit margin is relatively low at 1.77%, suggesting that profitability could be further optimized. The EBIT and EBITDA margins have improved from negative figures in the previous year to positive, indicating a recovery in operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.19, indicating a stronger balance sheet with reduced leverage. The return on equity is positive at 3.18%, showing that the company is generating returns on shareholders' investments. However, the equity ratio is moderate at 72.04%, suggesting a balanced capital structure but with room for improvement in asset utilization.

Cash Flow

Bleach, Inc. has shown a remarkable improvement in free cash flow, with a growth rate of 'Infinity' due to a turnaround from negative to positive free cash flow. The operating cash flow to net income ratio is 1.20, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 0.77, reflecting efficient cash conversion from profits.

Breakdown	Jun 2024	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	17.16B	13.81B	16.38B	14.61B	8.15B
Gross Profit	2.30B	1.40B	3.40B	2.16B	1.56B
EBITDA	522.33M	-364.25M	2.20B	1.03B	772.31M
Net Income	303.54M	-554.54M	1.47B	621.72M	440.82M
Balance Sheet
Total Assets	13.23B	12.90B	8.57B	5.99B	4.23B
Cash, Cash Equivalents and Short-Term Investments	8.90B	9.64B	5.90B	2.71B	2.44B
Total Debt	1.80B	2.52B	3.24B	2.33B	1.99B
Total Liabilities	3.70B	3.67B	5.32B	4.23B	3.07B
Stockholders Equity	9.53B	9.23B	3.25B	1.76B	1.16B
Cash Flow
Free Cash Flow	232.23M	-1.96B	2.22B	-59.82M	459.34M
Operating Cash Flow	365.13M	-1.86B	2.26B	60.98M	470.21M
Investing Cash Flow	-399.09M	-191.72M	111.31M	-124.06M	-143.25M
Financing Cash Flow	-710.93M	5.79B	879.38M	327.89M	751.78M

Bleach, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 281.00
• 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:9162, the sentiment is Negative. The current price of 281 is above the 20-day moving average (MA) of 256.25, below the 50-day MA of 285.30, and below the 200-day MA of 327.00, indicating a bearish trend. The MACD of -9.66 indicates Negative momentum. The RSI at 39.82 is Neutral, neither overbought nor oversold. The STOCH value of 70.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9162.

Bleach, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6045	68 Neutral	¥13.46B	22.31	―	2.19%	14.43%	10.99%
6533	64 Neutral	¥10.21B	13.14	―	0.91%	15.68%	-64.57%
9162	61 Neutral	¥6.38B	-30.53	―	―	26.73%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
6094	50 Neutral	¥12.84B	2.40	―	―	-2.68%	91.68%
7063	44 Neutral	¥3.38B	-9.91	―	―	-83.17%	91.97%
9235	43 Neutral	¥4.48B	-130.60	―	―	49.01%	-21.56%

Bleach, Inc. Corporate Events

Bleach, Inc. Posts Modest First-Half Profit and Maintains Strong Equity Base

Bleach, Inc. reported consolidated net sales of ¥8.7 billion and profit attributable to owners of the parent of ¥16 million for the six months ended December 31, 2025, with basic earnings per share of ¥0.64. The company’s financial position remains solid, with total assets of ¥13.0 billion, equity of ¥9.6 billion and an equity-to-asset ratio of 73.4%, while it continues a zero-dividend policy and has yet to provide earnings guidance for the full fiscal year ending June 30, 2026 due to forecast uncertainty.

The most recent analyst rating on (JP:9162) stock is a Hold with a Yen329.00 price target. To see the full list of analyst forecasts on Bleach, Inc. stock, see the JP:9162 Stock Forecast page.