Aoba-BBT, Inc. operates in the educational business in Japan. The company is involved in the distance education business; group education business; international school management; content provider business; and planning and production of business and management specialized content. The company also operates as a distance learning system consultant and service provider, an IT management business, as well as business breakthrough university management and graduate school management. In addition, it offers online English language education and communication skills training for business professionals and students, as well as video content and proprietary online learning platforms. The company was formerly known as Business Breakthrough, Inc. and changed its name to Aoba-BBT, Inc. in October 2023. Aoba-BBT, Inc. was incorporated in 1998 and is based in Tokyo, Japan.
Read more
Financials
Ownership
Capital Allocation Signals 1
Income Statement
Balance Sheet
Cash Flow
Ratios & Growth
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
FY 2020
EDINET ↗
Net Sales
¥7.7B
¥7.7B
¥7.5B
¥7.3B
¥6.8B
¥5.9B
Cost of Sales
¥4.7B
¥4.6B
¥4.5B
¥4.3B
¥3.7B
¥3.2B
Gross Profit
¥3.0B
¥3.1B
¥3.0B
¥3.0B
¥3.1B
¥2.7B
SG&A
¥2.5B
¥2.6B
¥2.6B
¥2.7B
¥2.6B
¥2.5B
Operating Income
¥455M
¥441M
¥383M
¥329M
¥471M
¥200M
Non-Operating Income
¥13M
¥50M
¥19M
¥19M
¥22M
¥21M
Interest Income
—
¥2M
¥0M
¥0M
¥0M
¥0M
Non-Operating Expenses
—
¥13M
¥14M
¥21M
¥21M
¥21M
Interest Expense
—
¥1M
¥2M
¥8M
¥13M
¥13M
Ordinary Income
¥464M
¥478M
¥389M
¥326M
¥472M
¥200M
Pre-tax Income
¥464M
¥423M
¥372M
¥1.1B
¥420M
¥74M
Income Taxes
¥190M
¥181M
¥124M
¥378M
¥198M
¥-8M
Current Tax
—
¥183M
¥149M
¥404M
¥85M
¥136M
Deferred Tax
—
¥-2M
¥-25M
¥-26M
¥113M
¥-144M
Net Income (owners)
¥274M
¥243M
¥243M
¥724M
¥222M
¥100M
Minority Interest
—
¥-1M
¥5M
¥5M
¥0M
¥-18M
Comprehensive Income
—
¥241M
¥251M
¥730M
¥223M
¥83M
EBITDA
¥684M
¥830M
¥774M
¥726M
¥884M
¥580M
Goodwill Amort. (J-GAAP)
—
¥150M
¥142M
¥142M
¥128M
¥103M
EPS
¥21.67
¥18.42
¥17.52
¥51.38
¥15.77
¥7.24
Shares Outstanding
—
13.9M
14.1M
14.1M
14.1M
13.9M
Shares Issued (total)
—
14.3M
14.3M
14.3M
14.3M
14.3M
Treasury Shares
—
0.4M
0.2M
0.2M
0.2M
0.4M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
FY 2020
EDINET ↗
Total Assets
¥7.4B
¥7.4B
¥7.5B
¥8.6B
¥8.9B
¥8.4B
Current Assets
¥3.4B
¥3.2B
¥3.0B
¥3.7B
¥2.3B
¥2.4B
Cash & Deposits
¥3.0B
¥2.8B
¥2.3B
¥3.2B
¥1.6B
¥1.9B
Trade Receivables
—
¥245M
¥250M
¥247M
¥357M
¥296M
Non-Current Assets
¥4.0B
¥4.2B
¥4.5B
¥5.0B
¥6.6B
¥6.0B
PP&E
¥2.2B
¥2.2B
¥2.4B
¥2.7B
¥4.1B
¥3.8B
Goodwill
—
¥1.3B
¥1.4B
¥1.5B
¥1.6B
¥1.4B
Intangible Assets
—
¥1.6B
¥1.7B
¥1.8B
¥2.0B
¥1.7B
Investment Securities
¥11M
¥13M
¥13M
¥13M
¥13M
¥16M
Deferred Tax Assets
—
¥157M
¥177M
¥157M
¥137M
¥155M
Total Liabilities
¥2.7B
¥2.8B
¥2.7B
¥3.6B
¥4.4B
¥3.9B
Current Liabilities
¥2.3B
¥2.5B
¥2.3B
¥3.1B
¥3.0B
¥2.9B
ST Debt
¥25M
¥25M
¥25M
¥31M
¥820M
¥857M
Taxes Payable
—
¥158M
¥93M
¥387M
¥37M
¥102M
Non-Current Liabilities
¥369M
¥387M
¥424M
¥504M
¥1.4B
¥1.0B
Total LT Borrowings
¥62M
¥88M
¥112M
¥174M
¥1.1B
¥782M
Pension Obligations
—
¥4M
¥3M
¥17M
¥15M
¥12M
Deferred Tax Liab.
—
¥42M
¥64M
¥69M
¥75M
¥81M
Total Equity
¥4.7B
¥4.6B
¥4.8B
¥5.0B
¥4.4B
¥4.5B
Capital Stock
—
¥1.8B
¥1.8B
¥1.8B
¥1.8B
¥1.8B
Capital Surplus
—
¥1.5B
¥1.5B
¥1.5B
¥1.5B
¥1.5B
Retained Earnings
¥1.9B
¥1.8B
¥1.7B
¥1.7B
¥1.1B
¥1.3B
Treasury Stock
—
¥-586M
¥-321M
¥-64M
¥-64M
¥-149M
AOCI
—
¥7M
¥8M
¥5M
¥4M
¥3M
Equity (owners)
¥4.7B
¥4.6B
¥4.7B
¥5.0B
¥4.4B
¥4.5B
Minority Interests
—
¥0M
¥29M
¥24M
¥19M
¥18M
Total Interest-Bearing Debt ⓘ
¥88M
¥112M
¥138M
¥206M
¥1.9B
¥1.6B
Net Cash ⓘ
¥2.9B
¥2.7B
¥2.2B
¥3.0B
¥-260M
¥255M
NCAV ⓘ
¥731M
¥340M
¥282M
¥53M
¥-2.2B
¥-1.5B
NCAV/Share
—
¥25
¥20
¥4
¥-153
¥-108
BV/Share
—
¥329
¥337
¥353
¥313
¥323
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
FY 2020
EDINET ↗
Operating CF
¥527M
¥1.1B
¥-428M
¥1.1B
¥583M
¥870M
Taxes Paid
—
¥11M
—
—
—
—
Interest Paid
—
¥-1M
¥-2M
¥-6M
¥-13M
¥-13M
D&A
¥229M
¥239M
¥249M
¥255M
¥285M
¥276M
Goodwill Amort.
—
¥150M
¥142M
¥142M
¥128M
¥103M
Investing CF
¥-100M
¥-174M
¥47M
¥2.3B
¥-1.0B
¥-341M
CapEx
¥65M
¥69M
¥104M
¥110M
¥595M
¥289M
Purchase Investments
—
¥-5M
—
¥-4M
—
—
Proceeds from Invest.
—
—
—
¥2M
¥2M
—
Financing CF
¥-180M
¥-449M
¥-547M
¥-1.9B
¥213M
¥22M
Dividends Paid
—
¥-158M
¥-223M
¥-152M
¥-152M
¥-152M
Share Buybacks
—
¥-266M
¥-257M
—
—
—
LT Debt Repaid
—
¥-25M
¥-68M
¥-1.0B
¥-90M
¥-67M
Free Cash Flow
¥462M
¥1.0B
¥-532M
¥1.0B
¥-12M
¥581M
Net Change in Cash
—
¥473M
¥-927M
¥1.6B
¥-249M
¥548M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
FY 2020
EDINET ↗
Return on Equity (ROE) ⓘ
5.9%
5.2%
5.0%
15.3%
5.0%
2.2%
Return on Assets (ROA) ⓘ
3.7%
3.3%
3.0%
8.3%
2.6%
1.2%
Gross Margin ⓘ
39.0%
39.6%
39.5%
41.2%
45.2%
46.2%
Operating Margin ⓘ
5.9%
5.7%
5.1%
4.5%
7.0%
3.4%
Net Margin ⓘ
3.6%
3.2%
3.2%
10.0%
3.3%
1.7%
Current Ratio ⓘ
1.48x
1.30x
1.31x
1.18x
0.75x
0.83x
Quick Ratio ⓘ
1.48x
1.30x
1.31x
1.18x
0.75x
0.83x
Revenue / Share ⓘ
—
¥555
¥532
¥515
¥480
¥425
BV/Share ⓘ
—
¥329
¥337
¥353
¥313
¥323
NCAV/Share ⓘ
—
¥25
¥20
¥4
¥-153
¥-108
EPS ⓘ
¥21.67
¥18.42
¥17.52
¥51.38
¥15.77
¥7.24
DPS ⓘ
¥0.00
¥11.00
¥11.00
¥16.00
¥11.00
¥11.00
Payout Ratio ⓘ
0.0%
59.7%
62.8%
31.1%
69.8%
151.9%
FCF/Share ⓘ
—
¥74.19
¥-37.84
¥71.49
¥-0.85
¥41.88
Market Valuation
Avg daily close price for calendar year × most recently reported EPS / DPS
Metric
CY2023
CY2024
CY2025
Avg P/E ⓘ
7.3×
EPS from 2023-03
18.8×
EPS from 2024-03
17.6×
EPS from 2025-03
Avg Div Yield ⓘ
4.28%
DPS from 2023-03
3.34%
DPS from 2024-03
3.39%
DPS from 2025-03
Avg Daily Close
¥374
¥329
¥325
Growth Rates (CAGR)
Metric
3yr CAGR (FY2022–2025)
5yr CAGR (FY2020–2025)
Stock Price
-7.8%
-3.0%
Sales
+1.9%
+5.4%
FCF/Share
—
—
EPS
-25.0%
+24.5%
DPS
-100.0%
-100.0%
BV/Share
+1.7%
—
NCAV/Share
—
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-15
16:00
Other
¥105M ¥11.0/sh
+0%
Aoba-BBT, announced a regular dividend of ¥11.00 per share (¥105.2 million total) with record date March 31, 2026 and ef…
Summary
Aoba-BBT, announced a regular dividend of ¥11.00 per share (¥105.2 million total) with record date March 31, 2026 and effective date June 25, 2026. The dividend amount is flat year-over-year compared to the prior forecast and prior fiscal year result. The company stated its basic dividend policy is to execute continuous dividends while balancing shareholder returns with internal reserves and business development needs.
YoY: +0%
Source (JP)
当期の期末配当金につきましては、株主の皆様の長期的な視点に配意しつつ、上記基本方針及び当期の業績等を勘案いたしまして、1株当たり 11 円 00 銭の普通配当を実施する予定であります。
Top 10 Shareholders
Ownership DNA
Large Shareholder Reports 4
#
Shareholder
Shares (thou.)
% of Total
1
大前 研一
4,800,300
2
Japan Custody Bank
㈱日本カストディ銀行(信託E口)
1,200,000
3
上原 俊彦
450,100
4
久保 博昭
240,000
5
酒井 拓
227,200
6
伊藤 泰史
200,200
7
宮本 雅史
198,000
8
大西 寛
171,500
9
日森 潤
169,700
10
村井 純
166,000
Domestic Nominees
8.7%
+2.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
47.8%
-0.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2022
2023
2024
2025
大前 研一
42.58%
42.58%
38.76%
34.63%
-4.13%
Japan Custody Bank
日本カストディ銀行
—
1.22%
3.95%
8.66%
+4.71%
上原 俊彦
NEW ENTRY
—
—
—
—
3.25%
NEW
久保 博昭
1.63%
1.68%
1.70%
1.73%
+0.03%
酒井 拓
1.61%
1.61%
1.62%
1.64%
+0.02%
伊藤 泰史
1.38%
1.38%
1.38%
1.44%
+0.06%
宮本 雅史
1.41%
1.41%
1.41%
1.43%
+0.02%
大西 寛
NEW ENTRY
—
—
—
—
1.24%
NEW
日森 潤
1.24%
—
1.20%
1.22%
+0.02%
村井 純
1.18%
—
1.18%
1.20%
+0.02%
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行
last seen 2024
Exited Top 10
5.35%
3.28%
2.14%
—
F.W.HUIBREGTSEN
F.W.HUIBREGTSEN
last seen 2024
Exited Top 10
1.33%
1.33%
1.34%
—
SBI Securities Co., Ltd.
SBI証券
last seen 2023
Exited Top 10
—
1.35%
—
—
SMBC Nikko Securities Inc.
SMBC日興証券
last seen 2022
Exited Top 10
1.41%
—
—
—
Matsui Securities Co., Ltd.
松井証券
last seen 2023
Exited Top 10
—
1.79%
—
—
Concentration (HHI)
ⓘ
1858
1841
1537
1299
4 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
↓ CSV
Date Shareholder Stake Event Flag Demands Source
2026-06-09
Global Management Partners Limited
5.0%
initial_5pct
✓ Activist
Shareholder returns Director appointment
2024-12-06
Mizuho Trust & Banking Co., Ltd.
8.41%
initial_5pct
Passive
—
2024-11-28
Aoba-BBT, Inc.
33.65%
-4.53%
change
Passive
—
2023-12-05
Aoba-BBT, Inc.
38.18%
change
Passive
—