Inforich, Inc. (9338) AI Stock Analysis

• Market Cap: ¥44.62B
• Dividend Yield: N/A
• Average Volume (3M): 125.52K
• Price to Earnings (P/E): 24.9
• Beta (1Y): 0.94
• Revenue Growth: 35.44%
• EPS Growth: 54.96%
• Country: JP
• Employees: 289
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 106.13
• Shares Outstanding: 9,828,220
• 10 Day Avg. Volume: 98,460
• 30 Day Avg. Volume: 125,523
• PEG Ratio: -0.67
• Price to Book (P/B): 2.49
• Price to Sales (P/S): 1.32
• P/FCF Ratio: 6.59
• 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): 147.25
• Revenue Forecast (FY): ¥17.18B

• Rating: 68 Neutral
• Price Target: ¥2,839.00 ▲(45.07% Upside)
• Action: Downgraded Date: 02/18/26
• Date: Action: Downgraded 02/18/26

The score is primarily driven by improving fundamentals—rapid revenue scaling and solid profitability—tempered by leverage and only moderate free-cash-flow conversion. Technicals show a strong trend but very overbought momentum, and valuation (P/E ~14.3) is supportive rather than a major catalyst.

Positive Factors

Networked hardware-software business model

Inforich’s asset-and-software network (shared portable battery stations in partner retail/high-traffic venues) creates recurring usage fees, scalable placement economics and partner-driven distribution. This model supports durable unit growth and higher lifetime customer value as footprint expands.

Rapid multi-year revenue scaling

Consistent, multi-year top-line expansion demonstrates successful product-market fit and increasing adoption of the network service. Sustained revenue growth supports operating leverage, greater negotiating power with partners, and a larger installed base to monetize over time.

Positive operating and free cash flow

Transition to consistently positive operating and free cash flow provides durable internal funding for station rollouts, maintenance and technology, reducing reliance on external financing for near-term expansion and improving financial resilience across business cycles.

Negative Factors

Elevated absolute debt burden

Rapid increase in absolute leverage leaves less financial flexibility. If growth or cash generation weakens, higher interest and principal obligations could force slower rollouts or cost-cutting, constraining strategic investments and raising refinancing risk in stressed conditions.

Moderate free-cash-flow conversion

FCF conversion materially below 100% indicates earnings are partly tied up in working capital or reinvestment. Over the medium term this can limit the pace at which the business self-funds network expansion and may necessitate ongoing external capital if growth accelerates.

Net margin volatility and recent compression

A meaningful year-over-year drop in net margin signals rising costs or one-time below-the-line pressures. Sustained margin variability reduces predictability of cash flows and could impair the company’s ability to convert revenue growth into durable earnings improvement.

Inforich, Inc. Business Overview & Revenue Model

Company Description

Inforich Inc. offers portable power bank sharing services in Japan. It also engages in ChargeSPOT, digital signage, advertising, and data related businesses; and provides consulting and marketing services, as well as develops hardware and software. The company was incorporated in 2015 and is headquartered in Shibuya, Japan.

How the Company Makes Money

Inforich generates revenue through multiple streams, primarily from the sale of software licenses, subscription fees for its analytics platforms, and consulting services that support implementation and optimization of its solutions. The company also benefits from strategic partnerships with cloud service providers and data vendors, which enhance its product offerings and market reach. Additionally, Inforich engages in recurring revenue models by offering maintenance and support services, ensuring ongoing customer engagement and satisfaction. These partnerships and diverse revenue sources contribute significantly to its financial performance.

Inforich, Inc. Financial Statement Overview

Summary

Strong multi-year revenue growth and sustained profitability with healthy operating/EBITDA margins support the score. Offsetting factors are elevated leverage (debt-to-equity ~1.15 and rising absolute debt) and only moderate free-cash-flow conversion (~59% of net income), alongside 2025 net margin compression versus 2024.

Income Statement

Revenue has scaled rapidly from 2020–2025, with strong 2025 annual growth of ~16.6% on top of a multi-year ramp. Profitability has improved materially versus earlier losses: 2025 shows healthy operating profitability (about 14% operating margin) and a solid cash-like earnings profile (about 29% EBITDA margin). The main weakness is volatility in net margins—net margin fell from ~19% in 2024 to ~12% in 2025 despite higher revenue, indicating rising costs and/or below-the-line pressure.

Balance Sheet

The balance sheet is more leveraged than ideal: 2025 debt is high relative to equity (debt-to-equity ~1.15), though improved from 2024 (~1.69). Equity has grown, and returns on equity remain strong in the profitable years (about 23% in 2025). Key risk is the absolute debt load rising sharply since 2023 (debt up from ~3.46B to ~8.77B), which can reduce flexibility if operating conditions soften.

Cash Flow

Cash generation has turned solid versus the negative cash flow years (2020–2022): 2025 operating cash flow (~4.86B) and free cash flow (~2.89B) are meaningfully positive and improved from 2024. However, cash conversion is only moderate—free cash flow is about 59% of net income in 2025 (similar in 2024), suggesting working capital needs and/or ongoing investment are absorbing cash. Overall, cash flow supports the business, but it is not yet best-in-class relative to reported profits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.37B	14.43B	10.70B	7.68B	4.39B	1.65B
Gross Profit	9.67B	11.45B	8.33B	5.75B	3.01B	844.26M
EBITDA	3.41B	4.21B	2.96B	1.39B	-688.24M	-1.83B
Net Income	1.88B	1.78B	2.06B	571.89M	-1.24B	-2.21B
Balance Sheet
Total Assets	20.80B	21.87B	18.91B	8.75B	5.99B	5.69B
Cash, Cash Equivalents and Short-Term Investments	10.45B	10.96B	9.17B	4.83B	2.61B	3.29B
Total Debt	11.68B	8.77B	9.01B	3.46B	2.41B	1.22B
Total Liabilities	14.75B	14.18B	13.52B	5.67B	3.55B	2.02B
Stockholders Equity	5.99B	7.66B	5.32B	3.08B	2.43B	3.68B
Cash Flow
Free Cash Flow	0.00	2.89B	2.30B	1.28B	-1.80B	-2.59B
Operating Cash Flow	0.00	4.86B	3.94B	2.43B	-830.41M	-1.52B
Investing Cash Flow	0.00	-2.68B	-4.67B	-959.13M	-1.30B	-724.59M
Financing Cash Flow	0.00	-593.53M	5.14B	885.08M	1.08B	4.03B

Inforich, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1957.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9338, the sentiment is Positive. The current price of 1957 is below the 20-day moving average (MA) of 3208.95, below the 50-day MA of 2431.10, and below the 200-day MA of 2547.68, indicating a bullish trend. The MACD of 719.14 indicates Negative momentum. The RSI at 95.60 is Negative, neither overbought nor oversold. The STOCH value of 65.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9338.

Inforich, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4771	70 Outperform	¥33.48B	14.48	―	1.72%	23.94%	47.11%
9338	68 Neutral	¥44.62B	24.87	―	―	35.44%	54.96%
7373	67 Neutral	¥26.97B	13.23	―	1.02%	24.97%	37.84%
7893	65 Neutral	¥29.77B	-60.25	―	3.97%	4.10%	-121.49%
9216	64 Neutral	¥24.69B	178.42	―	4.78%	-3.81%	-82.38%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
7814	52 Neutral	¥27.92B	4.34	―	1.57%	9.04%	-0.91%

Inforich, Inc. Corporate Events

Inforich Publishes Regional KPI Breakdown as Installed Base and Rentals Surge

Inforich Inc. has disclosed a regional breakdown of key performance indicators, including the number of installed units, monthly active users and rental counts, on its investor relations website following its FY2025 full-year financial results. The newly published data show continued expansion of its installed base from 34,000 units in late 2022 to 81,000 by the fourth quarter of 2025, with growth led by Japan and newer markets such as Taiwan and Australia.

User activity and monetization metrics also point to sustained scaling of the platform, with total MAU rising to 1.7 million and quarterly rentals reaching about 3.3 million by the fourth quarter of 2025, while rental sales climbed to roughly ¥3.7 billion and ARPR remained broadly stable. The more granular disclosure of KPIs by area increases transparency for investors and stakeholders, offering better visibility into regional performance dynamics and the company’s ability to drive usage and revenue across its international footprint.

The most recent analyst rating on (JP:9338) stock is a Buy with a Yen2080.00 price target. To see the full list of analyst forecasts on Inforich, Inc. stock, see the JP:9338 Stock Forecast page.

Inforich Links FY2025 Results to Ambitious Global Connectivity Mission

Inforich, Inc. has released briefing materials for its FY2025 full-year financial results, signaling an effort to communicate its performance and strategic direction to investors and other stakeholders. While the document emphasizes the company’s mission of “Bridging Beyond Borders,” it also underlines a long-term vision of leveraging information-rich services to enhance global connectivity and everyday convenience, framing its financial disclosures within a broader growth and innovation narrative.

This release reinforces Inforich’s positioning on the TSE Growth Market as a company focused on scalable, value-creating digital services. By tying its financial reporting to an ambitious social mission of linking people and resources worldwide, the company seeks to strengthen its brand identity and investor appeal, suggesting that its growth strategy is closely aligned with broader trends in digital transformation and cross-border connectivity.

The most recent analyst rating on (JP:9338) stock is a Buy with a Yen2080.00 price target. To see the full list of analyst forecasts on Inforich, Inc. stock, see the JP:9338 Stock Forecast page.

Inforich Boosts Revenue and Balance Sheet but Guides for Profit Slowdown in 2026

Inforich reported a 34.9% rise in consolidated net sales to ¥14.4 billion for the year ended December 31, 2025, with EBITDA up 42.1% and operating profit up 23.5%, although profit attributable to owners of parent declined 13.6% due to prior-year one-off strength. The balance sheet strengthened, with total assets increasing to ¥21.9 billion, equity ratio improving to 34.9%, and cash and cash equivalents climbing to ¥10.8 billion, while the company again opted not to pay dividends as it reinvests for growth and absorbs the impact of finalized acquisition accounting.

For 2026, Inforich forecasts net sales growth of 18.4% to ¥17.1 billion but expects significant profit compression, guiding for a 41.9% drop in operating profit and a 33.5% decline in profit attributable to owners of parent as it anticipates higher costs and investments. Despite robust top-line momentum, the lower earnings outlook and maintained zero-dividend stance signal a phase of heavier reinvestment, which may temper near-term returns for shareholders while aiming to support longer-term competitive positioning and scale.

The most recent analyst rating on (JP:9338) stock is a Buy with a Yen2080.00 price target. To see the full list of analyst forecasts on Inforich, Inc. stock, see the JP:9338 Stock Forecast page.

Inforich Takes Control of Thai CHARGESPOT Operator to Deepen ASEAN Expansion

Inforich Inc. will acquire 49% of CHARGESPOT (THAILAND) COMPANY LIMITED, converting the Thai franchise operator of its CHARGESPOT service into a consolidated subsidiary in order to directly manage operations and accelerate strategic investment. The move is intended to strengthen Inforich’s position in Thailand—already its largest ASEAN hub with over 80% market share and 1,930 installed battery stands—by enabling faster deployment, improved sales and procurement efficiency, and a stronger earnings base, while also leveraging synergies with its media, entertainment, and advertising initiatives as Thai content grows in regional prominence.

The most recent analyst rating on (JP:9338) stock is a Buy with a Yen2642.00 price target. To see the full list of analyst forecasts on Inforich, Inc. stock, see the JP:9338 Stock Forecast page.