CHANGE Holdings, Inc.

3962 株式会社チェンジホールディングス

Information Technology Services · Prime · TSE: Disclosed

PRICE: ¥928 · MKT CAP: ¥64.6B · P/E: 8.6x · P/B: 1.78x · DIV YIELD: 2.3%

PRICE — 5Y

Characteristics & Business Summary

CHANGE Holdings,Inc., together with its subsidiaries, engages in the digital transformation (DX) business in Japan. It operates through the NEW-IT Transformation Business and Publitech Business segments. The NEW-IT Transformation Business segment engages in...

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

Fiscal Period	FY 2021	FY 2021	FY 2022	FY 2023	FY 2024
Net Sales	15,653	10,140	20,021	37,015	46,387
Operating Profit	5,985	4,582	5,730	7,562	13,515
Ordinary Profit	—	—	—	—	—
Net Profit	4,104	3,093	3,856	4,325	7,532
EPS	¥57	¥43	¥53	¥60	¥108
DPS	—	¥4	¥10	¥19	¥21

Balance Sheet & Valuation Highlights

Total Assets ¥105B

Net Assets (Equity) ¥50B

Equity Ratio 47.4%

ROE (Return on Equity) 18.3%

Cash & Equivalents ¥30B

Interest-Bearing Debt ¥33B

Capital Expenditure (CapEx) ¥0B

Depreciation & Amort. ¥2B

Major Shareholders

1. SBI Holdings, Inc. 37.1%
2. Japan Master Trust Bank 6.9%
3. 神保吉寿 4.1%
4. 福留大士 3.2%
5. 須永珠代 2.9%
6. Japan Custody Bank 2.8%
7. 木下圭一郎 2.2%
8. 伊藤彰 1.8%
9. 石原徹哉 1.8%
10. 金田憲治 1.7%

Activist Activity

SBI Holdings, Inc. 34.47%

2025-01-08 · change

SBI Holdings, Inc. 33.38%

2024-08-20 · change

SBI Holdings, Inc. 32.32%

2024-04-10 · change

Asset Management One Co., Ltd. 2.84%

2024-03-25 · change

SBI Holdings, Inc. 31.31%

2024-03-21 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2021	FY 2021	FY 2022	FY 2023	FY 2024
Revenues per share	¥217	¥140	¥277	¥512	¥667
FCF/Share	¥51	¥48	¥-47	¥152	¥110
EPS	¥57	¥43	¥53	¥60	¥108
DPS	—	¥4	¥10	¥19	¥21
Capital Spending per share	¥2	¥3	¥31	¥15	¥3
Book Value per share	¥423	¥463	¥504	¥547	¥593
Common Shares Outstanding	72M	72M	72M	72M	70M

Financial Aggregates & Margins

Financial Aggregate	FY 2021	FY 2021	FY 2022	FY 2023	FY 2024
Revenues (Net Sales)	¥16B	¥10B	¥20B	¥37B	¥46B
Operating Margin (%)	38.2%	45.2%	28.6%	20.4%	29.1%
Net Profit (owners)	¥4B	¥3B	¥4B	¥4B	¥8B
Net Profit Margin (%)	26.2%	30.5%	19.3%	11.7%	16.2%
Working Capital	¥26B	¥28B	¥23B	¥14B	¥-5B
Total Debt (Interest-bearing)	¥2B	¥1B	¥3B	¥23B	¥33B
Net Worth (Common Equity)	¥30B	¥33B	¥36B	¥40B	¥41B
Return on Total Assets (ROA)	10.4%	7.2%	7.3%	4.8%	7.2%
Return on Common Equity (ROE)	13.5%	9.2%	10.6%	10.9%	18.3%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.