Ceres Inc. offers mobile and financial services in Japan and internationally. It offers its services through Points, where the company operates Moppy that is a service giving points to exchange for cash or electronic money; AD.TRACK, an ASP that connects advertisements related to advertisers products and services with affiliate media; D2C business for developing, manufacturing, and selling products in-house; and DX business for supporting business, business transformation, and customer contact point reform. The company also provides blockchain, online factoring, and investment development business services. Ceres Inc. was incorporated in 2005 and is based in Setagaya, Japan.
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Financials
Ownership
Capital Allocation Signals 1
TSE Compliance
Material Events
Income Statement
Balance Sheet
Cash Flow
Ratios & Growth
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Net Sales
ยฅ29.7B
ยฅ27.7B
ยฅ24.1B
ยฅ20.5B
ยฅ23.4B
Cost of Sales
ยฅ16.6B
ยฅ14.4B
ยฅ13.5B
ยฅ12.5B
ยฅ15.6B
Gross Profit
ยฅ13.0B
ยฅ13.3B
ยฅ10.6B
ยฅ8.1B
ยฅ7.8B
SG&A
ยฅ10.7B
ยฅ11.1B
ยฅ9.5B
ยฅ6.8B
ยฅ5.5B
Operating Income
ยฅ2.3B
ยฅ2.2B
ยฅ1.1B
ยฅ1.2B
ยฅ2.3B
Non-Operating Income
ยฅ55M
ยฅ508M
ยฅ148M
ยฅ14M
ยฅ1.2B
Interest Income
ยฅ15M
ยฅ1M
ยฅ1M
ยฅ1M
ยฅ7M
Non-Operating Expenses
ยฅ284M
ยฅ59M
ยฅ48M
ยฅ581M
ยฅ27M
Interest Expense
ยฅ66M
ยฅ41M
ยฅ25M
ยฅ21M
ยฅ15M
Ordinary Income
ยฅ2.1B
ยฅ2.7B
ยฅ1.2B
ยฅ680M
ยฅ3.5B
Pre-tax Income
ยฅ4.6B
ยฅ2.4B
ยฅ830M
ยฅ721M
ยฅ4.0B
Income Taxes
ยฅ2.0B
ยฅ855M
ยฅ332M
ยฅ606M
ยฅ1.1B
Current Tax
ยฅ2.4B
ยฅ1.0B
ยฅ661M
ยฅ911M
ยฅ1.1B
Deferred Tax
ยฅ-394M
ยฅ-171M
ยฅ-329M
ยฅ-305M
ยฅ-80M
Net Income (owners)
ยฅ2.5B
ยฅ1.5B
ยฅ451M
ยฅ47M
ยฅ2.8B
Minority Interest
ยฅ130M
ยฅ49M
ยฅ47M
ยฅ69M
ยฅ169M
Comprehensive Income
ยฅ2.8B
ยฅ1.5B
ยฅ536M
ยฅ165M
ยฅ2.8B
EBITDA
ยฅ2.8B
ยฅ2.7B
ยฅ1.6B
ยฅ1.6B
ยฅ2.6B
Goodwill Amort. (J-GAAP)
ยฅ238M
ยฅ206M
ยฅ206M
ยฅ183M
ยฅ112M
EPS
ยฅ216.61
ยฅ128.96
ยฅ39.57
ยฅ4.12
ยฅ251.75
Shares Outstanding
11.5M
11.5M
11.4M
11.4M
11.2M
Shares Issued (total)
12.1M
12.1M
12.0M
12.0M
11.8M
Treasury Shares
0.6M
0.6M
0.6M
0.6M
0.6M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Total Assets
ยฅ37.5B
ยฅ33.0B
ยฅ25.9B
ยฅ22.6B
ยฅ20.2B
Current Assets
ยฅ25.8B
ยฅ23.9B
ยฅ17.6B
ยฅ14.4B
ยฅ13.2B
Cash & Deposits
ยฅ13.1B
ยฅ11.6B
ยฅ8.1B
ยฅ6.5B
ยฅ6.8B
Trade Receivables
ยฅ3.8B
ยฅ3.9B
ยฅ3.6B
ยฅ3.5B
ยฅ2.9B
Non-Current Assets
ยฅ11.7B
ยฅ9.1B
ยฅ8.3B
ยฅ8.2B
ยฅ7.1B
PP&E
ยฅ765M
ยฅ780M
ยฅ362M
ยฅ264M
ยฅ261M
Goodwill
ยฅ2.2B
ยฅ1.3B
ยฅ1.5B
ยฅ1.7B
ยฅ1.0B
Intangible Assets
ยฅ3.0B
ยฅ1.5B
ยฅ1.7B
ยฅ2.1B
ยฅ1.2B
Investment Securities
ยฅ1.1B
ยฅ1.1B
ยฅ1.1B
ยฅ1.1B
ยฅ835M
Deferred Tax Assets
ยฅ2.3B
ยฅ1.6B
ยฅ1.4B
ยฅ1.1B
ยฅ835M
Total Liabilities
ยฅ23.5B
ยฅ20.3B
ยฅ15.9B
ยฅ12.9B
ยฅ10.4B
Current Liabilities
ยฅ20.4B
ยฅ16.9B
ยฅ13.5B
ยฅ10.6B
ยฅ8.9B
ST Debt
ยฅ6.7B
ยฅ6.4B
ยฅ5.0B
ยฅ3.7B
ยฅ2.8B
Taxes Payable
ยฅ1.9B
ยฅ738M
ยฅ247M
ยฅ372M
ยฅ833M
Non-Current Liabilities
ยฅ3.1B
ยฅ3.4B
ยฅ2.4B
ยฅ2.3B
ยฅ1.5B
Total LT Borrowings
ยฅ2.7B
ยฅ3.1B
ยฅ2.3B
ยฅ2.2B
ยฅ1.4B
Total Equity
ยฅ14.0B
ยฅ12.7B
ยฅ10.0B
ยฅ9.7B
ยฅ9.8B
Capital Stock
ยฅ2.2B
ยฅ2.1B
ยฅ2.0B
ยฅ2.0B
ยฅ1.9B
Capital Surplus
ยฅ3.4B
ยฅ3.3B
ยฅ2.6B
ยฅ2.5B
ยฅ2.5B
Retained Earnings
ยฅ7.8B
ยฅ6.0B
ยฅ4.7B
ยฅ4.5B
ยฅ4.9B
Treasury Stock
ยฅ-308M
ยฅ-308M
ยฅ-308M
ยฅ-308M
ยฅ-308M
AOCI
ยฅ228M
ยฅ92M
ยฅ158M
ยฅ120M
ยฅ70M
Equity (owners)
ยฅ13.1B
ยฅ11.1B
ยฅ9.0B
ยฅ8.8B
ยฅ9.0B
Minority Interests
ยฅ665M
ยฅ1.6B
ยฅ860M
ยฅ813M
ยฅ745M
Total Interest-Bearing Debt โ
ยฅ9.4B
ยฅ9.5B
ยฅ7.4B
ยฅ5.9B
ยฅ4.2B
Net Cash โ
ยฅ3.7B
ยฅ2.1B
ยฅ750M
ยฅ661M
ยฅ2.6B
NCAV โ
ยฅ2.2B
ยฅ3.6B
ยฅ1.7B
ยฅ1.5B
ยฅ2.7B
NCAV/Share
ยฅ194
ยฅ312
ยฅ151
ยฅ133
ยฅ245
BV/Share
ยฅ1,133
ยฅ961
ยฅ791
ยฅ769
ยฅ801
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Operating CF
ยฅ1.7B
ยฅ722M
ยฅ1.1B
ยฅ102M
ยฅ1.2B
Interest Paid
ยฅ-91M
ยฅ-54M
ยฅ-26M
ยฅ-22M
ยฅ-16M
D&A
ยฅ255M
ยฅ250M
ยฅ272M
ยฅ190M
ยฅ184M
Goodwill Amort.
ยฅ238M
ยฅ206M
ยฅ206M
ยฅ183M
ยฅ112M
Investing CF
ยฅ744M
ยฅ-519M
ยฅ-739M
ยฅ-1.7B
ยฅ-787M
CapEx
ยฅ217M
ยฅ325M
ยฅ269M
ยฅ124M
ยฅ74M
Purchase Investments
ยฅ-39M
ยฅ-129M
ยฅ-106M
ยฅ-291M
ยฅ-487M
Proceeds from Invest.
โ
โ
โ
โ
ยฅ77M
Financing CF
ยฅ-820M
ยฅ3.3B
ยฅ1.2B
ยฅ1.2B
ยฅ408M
Dividends Paid
ยฅ-690M
ยฅ-228M
ยฅ-228M
ยฅ-449M
ยฅ-198M
LT Debt Repaid
ยฅ-2.2B
ยฅ-2.0B
ยฅ-1.5B
ยฅ-1.3B
ยฅ-1.0B
Free Cash Flow
ยฅ1.5B
ยฅ397M
ยฅ792M
ยฅ-22M
ยฅ1.1B
Net Change in Cash
ยฅ1.6B
ยฅ3.5B
ยฅ1.6B
ยฅ-392M
ยฅ783M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Return on Equity (ROE) โ
18.7%
13.0%
4.6%
0.5%
28.3%
Return on Assets (ROA) โ
7.1%
5.0%
1.9%
0.2%
13.7%
Gross Margin โ
43.9%
48.1%
44.0%
39.3%
33.2%
Operating Margin โ
7.9%
8.0%
4.6%
6.1%
9.9%
Net Margin โ
8.4%
5.3%
1.9%
0.2%
11.9%
Current Ratio โ
1.26x
1.42x
1.31x
1.37x
1.47x
Quick Ratio โ
1.26x
1.42x
1.31x
1.37x
1.47x
Revenue / Share โ
ยฅ2,570
ยฅ2,407
ยฅ2,109
ยฅ1,803
ยฅ2,083
BV/Share โ
ยฅ1,133
ยฅ961
ยฅ791
ยฅ769
ยฅ801
NCAV/Share โ
ยฅ194
ยฅ312
ยฅ151
ยฅ133
ยฅ245
EPS โ
ยฅ216.61
ยฅ128.96
ยฅ39.57
ยฅ4.12
ยฅ251.75
DPS โ
ยฅ80.00
ยฅ60.00
ยฅ20.00
ยฅ20.00
ยฅ40.00
Payout Ratio โ
36.9%
46.5%
50.5%
485.4%
15.9%
FCF/Share โ
ยฅ125.92
ยฅ34.51
ยฅ69.40
ยฅ-1.94
ยฅ96.90
Market Valuation
Avg daily close price for calendar year ร most recently reported EPS / DPS
Metric
CY2023
CY2024
CY2025
Avg P/E โ
25.1ร
EPS from 2023-12
12.8ร
EPS from 2024-12
10.6ร
EPS from 2025-12
Avg Div Yield โ
2.02%
DPS from 2023-12
3.62%
DPS from 2024-12
3.50%
DPS from 2025-12
Avg Daily Close
ยฅ993
ยฅ1,656
ยฅ2,287
Growth Rates (CAGR)
Metric
3yr CAGR (FY2022โ2025)
5yr CAGR
Stock Price
+25.4%
-11.2%
Sales
+13.0%
โ
FCF/Share
โ
โ
EPS
+274.6%
โ
DPS
+58.7%
โ
BV/Share
+13.8%
โ
NCAV/Share
+13.4%
โ
Market Segment: Prime
Last Updated: 2026-03-06
Status:
Disclosed
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-04-30
12:00
Buyback
ยฅ500M
Board resolved to repurchase up to ยฅ500M.
Summary
Board resolved to repurchase up to ยฅ500M.
Source (JP)
ๅฒๅ 2.98๏ผ
๏ผ
(๏ผ) ๆ ชๅผใฎๅๅพไพก้กใฎ็ท้ก
500,000,000 ๅใไธ้ใจใใ
(๏ผ) ๅๅพๆ้
(๏ผ) ๅๅพๆนๆณ
2026 ๅนด๏ผๆ๏ผๆฅ๏ฝ2026 ๅนด 12 ๆ 30 ๆฅ
ๆฑไบฌ่จผๅธๅๅผๆใซใใใๅๅผไธไปปๅฅ็ดใซๅบใฅใๅธๅ ด่ฒทไป
๏ผๆณจ๏ผๅธๅ ดๅๅ็ญใซใใไธ้จใพใใฏ
่ชๅทฑๆ ชๅผๅๅพใซไฟใไบ้
ใฎๆฑบๅฎใซ้ขใใใ็ฅใใ
TDnet PDF
Top 10 Shareholders
Ownership DNA
Large Shareholder Reports 19
#
Shareholder
Shares (thou.)
% of Total
1
Japan Custody Bank
ๆ ชๅผไผ็คพๆฅๆฌใซในใใใฃ้่ก(ไฟก่จๅฃ)
1,209,794
2
ๆ้ไผ็คพใธใฅใใผใปใขใณใใปใซใณใใใผ
1,180,000
3
Japan Master Trust Bank
ๆฅๆฌใในใฟใผใใฉในใไฟก่จ้่กๆ ชๅผไผ็คพ(ไฟก่จๅฃ)
815,200
4
้ฝๆจ ่ก
748,900
5
CyberAgent Inc.
ๆ ชๅผไผ็คพใตใคใใผใจใผใธใงใณใ
500,000
6
่ตคๆตฆ ๅพน
280,000
7
้๏จ ๅฒไน
223,400
8
ๅฐๆ ไฟ่ฃ
212,900
9
ๅคง็ฐ ๅฎๆ
174,900
10
่ฐทๅฐ่ ๆ
152,400
Domestic Nominees
17.5%
+1.8% vs 2024
Trust bank custodians โ GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
30.1%
-1.3% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2021
2022
2023
2024
2025
Japan Custody Bank
ๆฅๆฌใซในใใใฃ้่ก
18.46%
8.20%
9.89%
7.88%
10.48%
+2.60%
้ไผ็คพใธใฅใใผใปใขใณใใปใซใณใใใผ
10.50%
10.36%
10.33%
10.25%
10.22%
-0.03%
Japan Master Trust Bank
ๆฅๆฌใในใฟใผใใฉในใไฟก่จ้่ก
6.73%
10.02%
8.23%
7.85%
7.06%
-0.79%
้ฝๆจ ่ก
5.57%
5.97%
5.98%
6.48%
6.49%
+0.01%
CyberAgent Inc.
ๅผไผ็คพใตใคใใผใจใผใธใงใณใ
4.44%
4.39%
4.38%
4.34%
4.33%
-0.01%
่ตคๆตฆ ๅพน
2.93%
2.89%
2.89%
2.86%
2.42%
-0.44%
้๏จ ๅฒไน
NEW ENTRY
โ
โ
โ
โ
โ
1.93%
NEW
ๅฐๆ ไฟ่ฃ
โ
2.02%
1.74%
1.85%
1.84%
-0.01%
ๅคง็ฐ ๅฎๆ
NEW ENTRY
โ
โ
โ
โ
โ
1.51%
NEW
่ฐทๅฐ่ ๆ
โ
โ
1.86%
1.84%
1.32%
-0.52%
้ๅด ๅฒไน
last seen 2024
Exited Top 10
1.89%
1.90%
1.91%
1.91%
โ
SBI SECURITIES Co., Ltd.
SBI่จผๅธ
last seen 2024
Exited Top 10
โ
โ
โ
1.83%
โ
้ซๆฉ ็งๆ
last seen 2023
Exited Top 10
5.47%
4.56%
1.75%
โ
โ
ใคใณใญใฅใใคใใญใฃใใฟใซ5ๅทๆ่ณไบๆฅญๆ้่ฒฌไปป็ตๅ
last seen 2022
Exited Top 10
2.19%
2.16%
โ
โ
โ
Concentration (HHI)
โ
594
371
349
312
342
5 fiscal years ยท top-10 holders per year ยท >2,500 HHI = high concentration ยท entity-resolved
โ CSV
Date Shareholder Stake Event Flag Demands Source
2026-03-05
Invesco Capital Management LLC
6.87%
+0.05%
change
Passive
โ
2025-11-19
Invesco Capital Management LLC
6.82%
-0.61%
change
Passive
โ
2025-09-05
Assetย Managementย Oneย Co.,ย Ltd.
8.39%
+1.09%
change
Passive
โ
2025-08-21
Invesco Capital Management LLC
7.43%
+0.27%
change
Passive
โ
2025-08-06
Invesco Capital Management LLC
7.16%
+0.81%
change
Passive
โ
2025-08-05
Nomura Securities Co.,Ltd.
4.88%
-1.66%
change
Passive
โ
2025-07-04
Nomura Securities Co.,Ltd.
6.54%
initial_5pct
Passive
โ
2025-06-19
Invesco Capital Management LLC
6.35%
-0.25%
change
Passive
โ
2025-05-21
Invesco Capital Management LLC
6.6%
-0.03%
change
Passive
โ
2025-05-08
Invesco Capital Management LLC
6.63%
-0.14%
change
Passive
โ
2025-04-22
Invesco Capital Management LLC
6.77%
-0.34%
change
Passive
โ
2025-02-21
Assetย Managementย Oneย Co.,ย Ltd.
7.3%
-1.06%
change
Passive
โ
2025-02-20
Invesco Capital Management LLC
7.11%
+1.61%
change
Passive
โ
2025-02-06
Invesco Capital Management LLC
5.5%
+0.2%
change
Passive
โ
2025-01-09
Invesco Capital Management LLC
5.3%
+0.05%
change
Passive
โ
2024-11-21
Invesco Capital Management LLC
5.25%
initial_5pct
Passive
โ
2024-07-22
Assetย Managementย Oneย Co.,ย Ltd.
8.36%
change
Passive
โ
2023-09-07
Sumitomo Mitsui DS Asset Management Company, Limited
4.5%
-1.0%
change
Passive
โ
2023-06-07
Sumitomo Mitsui DS Asset Management Company, Limited
5.5%
change
Passive
โ
Date
Category
Summary
Amount
2026-02-13
๐ฅ Financial
Impairment
The company recorded an impairment loss of 849 million yen on shares of its subsidiary Mercury Inc., which operates the cryptocurrency exchange CoinTrade. The impairment was necessitated by the subsidiary's net loss in the current period, resulting in a decline in its net asset value. The loss is recorded as a special loss in individual financial statements but will be eliminated in consolidated results.
ยฅ849M
โบ
Summary
The company recorded an impairment loss of 849 million yen on shares of its subsidiary Mercury Inc., which operates the cryptocurrency exchange CoinTrade. The impairment was necessitated by the subsidiary's net loss in the current period, resulting in a decline in its net asset value. The loss is recorded as a special loss in individual financial statements but will be eliminated in consolidated results.
Counterparty: ๆ ชๅผไผ็คพใใผใญใฅใชใผ (Mercury Inc.)
้ขไฟไผ็คพๆ ชๅผ่ฉไพกๆ849็พไธๅใ็นๅฅๆๅคฑใจใใฆ่จไธใใใใพใใใใชใใๅๅฅๆฑบ็ฎใง่จไธใใ้ขไฟไผ็คพๆ ชๅผ่ฉไพกๆใซใคใใพใใฆใฏใ้ฃ็ตๆฑบ็ฎไธๆถๅปใใใใใใ้ฃ็ตๆฅญ็ธพใซไธใใๅฝฑ้ฟใฏใใใใพใใใ
โ