V-cube, Inc.

3681 株式会社ブイキューブ

Software - Application · Prime · TSE: Disclosed

PRICE: ¥19 · MKT CAP: ¥0.5B · P/E: — · P/B: — · DIV YIELD: 0.0%

PRICE — 5Y

Characteristics & Business Summary

V-cube, Inc. engages in the planning, development, offering, operation, and support of visual communication services for enterprise customers in Japan. The company offers V-CUBE Learning, a learning management system that has incorporated the virtual online...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Net Sales	11,494	12,229	11,085	10,464	9,859
Operating Profit	1,351	675	-156	-237	-1,683
Ordinary Profit	1,233	613	-275	-321	-2,026
Net Profit	1,324	85	-5,623	-1,417	-3,697
EPS	¥55	¥3	¥-232	¥-55	¥-143
DPS	¥8	¥4	¥0	¥0	¥0

Balance Sheet & Valuation Highlights

Total Assets ¥9B

Net Assets (Equity) ¥-1B

Equity Ratio -23.0%

ROE (Return on Equity) —

Cash & Equivalents ¥2B

Interest-Bearing Debt ¥7B

Capital Expenditure (CapEx) ¥0B

Depreciation & Amort. ¥1B

Major Shareholders

1. 間下直晃 13.9%
2. The Master Trust Bank of Japan, Ltd. (Trust Account) 7.1%
3. Rakuten Securities, Inc. 3.0%
4. トミーコンサルティングインク 2.6%
5. 山下博 1.4%
6. 高田雅也 1.3%
7. 岩本良太 1.0%
8. 佐藤陽也 0.9%
9. JPMorgan Securities Japan Co., Ltd. 0.8%
10. Custody Bank of Japan, Ltd. (Trust Account) 0.7%

Activist Activity

Naoaki Mashita 14.01%

2026-05-28 · increase

Naoaki Mashita 16.58%

2026-05-07 · change

Naoaki Mashita 16.58%

2025-04-23 · change

Sumitomo Mitsui Trust Bank,Limited 3.0%

2025-03-21 · change

Naoaki Mashita 16.38%

2025-03-11 · correction

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues per share	¥474	¥504	¥457	¥404	¥381
FCF/Share	¥57	¥49	¥24	¥26	¥-41
EPS	¥55	¥3	¥-232	¥-55	¥-143
DPS	¥8	¥4	¥0	¥0	¥0
Capital Spending per share	¥29	¥27	¥17	¥6	¥18
Book Value per share	¥195	¥191	¥-45	¥-78	¥-147
Common Shares Outstanding	24M	24M	24M	26M	26M

Financial Aggregates & Margins

Financial Aggregate	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues (Net Sales)	¥11B	¥12B	¥11B	¥10B	¥10B
Operating Margin (%)	11.8%	5.5%	-1.4%	-2.3%	-17.1%
Net Profit (owners)	¥1B	¥0B	¥-6B	¥-1B	¥-4B
Net Profit Margin (%)	11.5%	0.7%	-50.7%	-13.5%	-37.5%
Working Capital	¥-6B	¥-7B	¥-8B	¥-7B	¥-5B
Total Debt (Interest-bearing)	¥7B	¥8B	¥8B	¥7B	¥7B
Net Worth (Common Equity)	¥5B	¥5B	¥-1B	¥-2B	¥-4B
Return on Total Assets (ROA)	8.7%	0.5%	-45.6%	-13.5%	-42.3%
Return on Common Equity (ROE)	27.9%	1.8%	—	—	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.