2489
Adways Inc.
株式会社アドウェイズ
Services
Adways Inc. engages in advertisement platform, agency, and other businesses in Japan, China, Korea, Taiwan, the Philippines, Hong Kong, Singapore, and Thailand. It offers AppDriver and UNICORN smartphone advertising services; Smart-C mobile affiliate advertising services; and JANet affiliate advertising services; and sales and operation services of internet advertising using the group's ad platform. The company is also involved in startup investment, digital transformation business, lifestyle, and overseas businesses; and acts as an agent for the sale of advertising products and related services. Adways Inc. was incorporated in 2001 and is headquartered in Shinjuku, Japan.
Read more
← Companies
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥12.2B
¥12.7B
¥13.5B
¥13.4B
¥9.7B
Cost of Sales
¥2.1B
¥2.3B
¥2.6B
¥2.6B
¥1.7B
Gross Profit
¥10.1B
¥10.4B
¥11.0B
¥10.8B
¥8.0B
SG&A
¥9.8B
¥10.2B
¥10.0B
¥9.1B
¥6.7B
Operating Income
¥297M
¥166M
¥922M
¥1.7B
¥1.3B
Non-Operating Income
¥313M
¥350M
¥398M
¥337M
¥409M
Dividend Income
¥2M
¥3M
¥3M
¥5M
¥5M
Interest Income
¥27M
¥21M
¥17M
¥11M
¥1M
Non-Operating Expenses
¥3M
¥13M
¥6M
¥501M
¥9M
Ordinary Income
¥607M
¥504M
¥1.3B
¥1.5B
¥1.7B
Pre-tax Income
¥628M
¥134M
¥1.6B
¥4.2B
¥1.6B
Income Taxes
¥337M
¥573M
¥664M
¥1.6B
¥494M
Current Tax
¥357M
¥395M
¥696M
¥1.6B
¥489M
Deferred Tax
¥-20M
¥178M
¥-32M
¥27M
¥5M
Net Income (owners)
¥253M
¥-473M
¥966M
¥2.5B
¥1.0B
Minority Interest
¥38M
¥35M
¥-44M
¥57M
¥88M
Comprehensive Income
¥160M
¥-515M
¥712M
¥3.3B
¥1.0B
EBITDA
¥450M
¥402M
¥1.2B
¥1.9B
¥1.5B
Goodwill Amort. (J-GAAP)
¥20M
¥10M
¥7M
¥19M
¥9M
EPS
¥6.47
¥-12.11
¥25.07
¥63.49
¥26.53
Shares Outstanding
39.1M
39.1M
39.1M
39.6M
41.8M
Shares Issued (total)
42.0M
42.0M
42.0M
42.0M
42.0M
Treasury Shares
2.9M
2.9M
2.9M
2.4M
0.2M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥22.3B
¥22.9B
¥25.2B
¥27.8B
¥25.3B
Current Assets
¥18.1B
¥18.4B
¥19.9B
¥22.9B
¥21.8B
Cash & Deposits
¥9.9B
¥10.0B
¥10.2B
¥12.9B
¥9.9B
Trade Receivables
¥7.4B
¥7.7B
¥8.5B
¥9.2B
¥8.0B
Non-Current Assets
¥4.2B
¥4.5B
¥5.3B
¥4.9B
¥3.5B
PP&E
¥1.1B
¥1.2B
¥1.2B
¥618M
¥317M
Goodwill
¥55M
¥55M
¥1M
¥52M
¥78M
Intangible Assets
¥221M
¥66M
¥132M
¥256M
¥383M
Investment Securities
¥2.4B
¥2.8B
¥3.1B
¥3.3B
¥2.3B
Total Liabilities
¥8.3B
¥9.0B
¥10.6B
¥11.5B
¥10.3B
Current Liabilities
¥8.1B
¥8.6B
¥10.3B
¥11.2B
¥10.2B
Taxes Payable
¥277M
¥318M
¥523M
¥1.3B
¥248M
Non-Current Liabilities
¥265M
¥366M
¥283M
¥308M
¥165M
Pension Obligations
¥21M
¥22M
¥17M
¥13M
—
Deferred Tax Liab.
¥67M
¥171M
¥62M
¥242M
¥40M
Total Equity
¥14.0B
¥13.9B
¥14.6B
¥16.3B
¥14.9B
Capital Stock
¥1.7B
¥1.7B
¥1.7B
¥1.7B
¥1.7B
Capital Surplus
¥5.4B
¥5.4B
¥5.4B
¥6.9B
¥6.9B
Retained Earnings
¥7.5B
¥7.4B
¥8.1B
¥7.7B
¥5.4B
Treasury Stock
¥-2.1B
¥-2.1B
¥-2.1B
¥-1.8B
¥-167M
AOCI
¥959M
¥1.1B
¥1.2B
¥1.4B
¥756M
Equity (owners)
¥12.5B
¥12.4B
¥13.1B
¥14.5B
¥13.9B
Minority Interests
¥303M
¥272M
¥246M
¥296M
¥278M
Net Cash ⓘ
¥9.9B
¥10.0B
¥10.2B
¥12.9B
¥9.9B
NCAV ⓘ
¥9.8B
¥9.4B
¥9.3B
¥11.4B
¥11.4B
NCAV/Share
¥250
¥240
¥238
¥289
¥273
BV/Share
¥321
¥317
¥334
¥367
¥332
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-80M
¥186M
¥592M
¥385M
¥924M
Taxes Paid
¥-381M
¥-317M
¥-1.8B
¥-512M
¥-777M
Interest Paid
—
¥-0M
¥-0M
¥-0M
¥-0M
Interest Received
¥104M
¥114M
¥67M
¥60M
¥5M
D&A
¥133M
¥226M
¥222M
¥227M
¥151M
Goodwill Amort.
¥20M
¥10M
¥7M
¥19M
¥9M
Investing CF
¥163M
¥156M
¥-95M
¥2.0B
¥-217M
CapEx
¥343M
¥556M
¥649M
¥408M
¥121M
Purchase Investments
¥-147M
¥-148M
¥-306M
¥-509M
¥-273M
Proceeds from Invest.
¥304M
¥443M
¥524M
¥3.0B
¥48M
Financing CF
¥-135M
¥-236M
¥-2.9B
¥-1.9B
¥2.7B
Dividends Paid
¥-118M
¥-226M
¥-557M
¥-217M
¥-322M
Share Buybacks
—
—
¥-2.0B
¥-1.6B
¥-168M
LT Debt Repaid
—
¥-2M
¥-5M
—
—
Free Cash Flow
¥-423M
¥-370M
¥-56M
¥-23M
¥804M
Net Change in Cash
¥-116M
¥-154M
¥-2.7B
¥54M
¥2.8B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
1.9%
-3.4%
6.4%
16.6%
8.0%
ROA
1.1%
-2.0%
3.6%
9.6%
4.1%
EPS
¥6.47
¥-12.11
¥25.07
¥63.49
¥26.53
DPS
¥6.42
¥3.00
¥5.77
¥14.10
¥5.17
BPS
¥345.20
¥344.95
¥364.93
¥402.87
¥349.64
FCF/Share
¥-11
¥-9
¥-1
¥-1
¥19
NCAV/Share
¥250
¥240
¥238
¥289
¥273
Payout Ratio
99.2%
—
23.0%
22.2%
19.5%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 6
Date Activist Stake Event Flag Demands Source
2025-12-17
HAKUHODO INCORPORATED
6.76%
correction
Passive
—
2025-12-17
HAKUHODO DY MEDIA PARTNERS INCORPORATED
—
correction
Passive
—
2025-12-17
HAKUHODO DY HOLDINGS INCORPORATED
15.42%
correction
Passive
—
2025-12-16
HAKUHODO DY HOLDINGS INCORPORATED
15.42%
change
Passive
—
2025-12-16
HAKUHODO INCORPORATED
6.76%
initial_5pct
Passive
—
2025-12-16
HAKUHODO DY MEDIA PARTNERS INCORPORATED
—
exit
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 7
#
Shareholder
Shares (thou.)
% of Total
1
岡村 陽久
8,149,300
20.85%
2
伊藤忠商事株式会社
4,000,600
10.24%
3
株式会社博報堂DYホールディングス
3,639,100
9.31%
4
株式会社博報堂
2,837,800
7.26%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社(信託口)
2,057,900
5.27%
6
山田 翔
2,045,800
5.24%
7
西岡 明彦
396,000
1.01%
8
松尾 志郎
386,900
0.99%
9
楽天証券株式会社共有口
235,200
0.60%
10
INTERACTIVE BROKERS LLC(常任代理人 インタラクティブ・ブローカーズ証券株式会社)
158,000
0.40%
Domestic Nominees
5.3%
-3.5% 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
55.9%
+1.0% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
岡村 陽久
20.85%
20.85%
20.85%
伊藤忠商事
10.24%
10.24%
10.24%
式会社博報堂DYホールディングス
9.31%
9.31%
9.31%
式会社博報堂
NEW ENTRY
—
—
—
7.26%
NEW
日本マスタートラスト信託銀行
6.20%
8.04%
5.27%
-2.77%
山田 翔
5.23%
5.23%
5.24%
+0.01%
西岡 明彦
1.01%
1.01%
1.01%
松尾 志郎
—
0.45%
0.99%
+0.54%
楽天証券株式会社共有口
NEW ENTRY
—
—
—
0.60%
NEW
INTERACTIVE BROKERS LLC
—
0.50%
0.40%
-0.10%
式会社博報堂DYメディアパートナーズ
last seen 2024
Exited Top 10
7.26%
7.26%
—
日本カストディ銀行
last seen 2024
Exited Top 10
0.56%
0.77%
—
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
last seen 2023
Exited Top 10
1.24%
—
—
Goldman Sachs
last seen 2023
Exited Top 10
0.47%
—
—
Concentration (HHI)
ⓘ
748
773
737
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥60M
-71% since 2023
Holdings
7
+1 new
2 exited
Trend
Stable
vs 2023
Held Company
FY2025
¥60M total
FY2023
¥207M total
Book Val ¥M
Shares
Book Val ¥M
Shares
gumi Inc.
株式会社gumi
36
100,000
44
100,000
Kokopelli Inc.
株式会社ココペリ
18
62,100
21
62,100
ZETA INC
ZETA株式会社
5
NEW
New
16,400
—
Digital Plus Co., Ltd.
株式会社デジタルプラス
1
1,000
0
1,000
monoAI technology株式会社
—
—
mup holdings. Inc,
株式会社エムアップホールディングス
—
—
Amazia Co., Ltd.
株式会社Amazia
—
—
繝偵Ο繧サ騾壼膚譬ェ蠑丈シ夂、セ
ヒロセ通商株式会社
—
−100%
Exit
—
136
45,400
サイジニア株式会社
—
−100%
Exit
—
6
4,100
Portfolio total
60
207
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding