4438
Welby Inc.
株式会社Welby
Information & Communication
Welby Inc. engages in the provision of digital health solutions that help patients to get medical care services in Japan. The company provides services in the areas of diabetes, lifestyle-related disease, autoimmune disease, rare disease, oncology, and blood disorders. It also engages in the medical data research business; and operates apps, web services, and data management. Welby Inc. was incorporated in 2011 and is headquartered in Chuo, Japan.
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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
¥636M
¥528M
¥575M
¥1.1B
¥1.1B
Cost of Sales
¥187M
¥148M
¥199M
¥296M
¥455M
Gross Profit
¥449M
¥380M
¥376M
¥755M
¥684M
SG&A
¥901M
¥1.0B
¥813M
¥695M
¥797M
Operating Income
¥-453M
¥-654M
¥-437M
¥61M
¥-113M
Non-Operating Income
¥1M
¥1M
¥0M
¥20M
¥4M
Interest Income
¥1M
¥0M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥3M
¥2M
¥2M
¥7M
¥0M
Interest Expense
¥3M
¥2M
¥0M
¥0M
¥0M
Ordinary Income
¥-455M
¥-656M
¥-439M
¥74M
¥-110M
Pre-tax Income
¥-532M
¥-817M
¥-503M
¥38M
¥-128M
Income Taxes
—
—
—
—
¥2M
Current Tax
¥2M
¥3M
¥2M
¥4M
¥2M
Net Income (owners)
¥-540M
¥-805M
¥-505M
¥34M
¥-131M
Minority Interest
¥6M
¥-15M
—
—
—
Comprehensive Income
¥-534M
¥-820M
¥-505M
—
—
EBITDA
¥-424M
¥-632M
¥-434M
¥63M
¥-112M
Goodwill Amort. (J-GAAP)
¥22M
¥11M
—
—
—
EPS
¥-65.21
¥-98.61
¥-64.51
¥4.33
¥-16.68
Shares Outstanding
8.3M
8.3M
7.8M
7.8M
7.8M
Shares Issued (total)
8.3M
8.3M
7.8M
7.8M
7.8M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥1.1B
¥1.2B
¥1.2B
¥1.4B
¥1.4B
Current Assets
¥878M
¥973M
¥1.1B
¥1.4B
¥1.3B
Cash & Deposits
¥711M
¥740M
¥883M
¥831M
¥961M
Trade Receivables
¥141M
¥183M
¥180M
¥506M
¥346M
Non-Current Assets
¥176M
¥194M
¥73M
¥43M
¥74M
PP&E
¥0M
¥0M
¥0M
¥0M
¥0M
Goodwill
¥100M
¥123M
—
—
—
Intangible Assets
¥100M
¥123M
—
—
—
Investment Securities
¥30M
¥30M
¥32M
¥2M
—
Total Liabilities
¥748M
¥329M
¥88M
¥121M
¥135M
Current Liabilities
¥360M
¥329M
¥88M
¥120M
¥126M
ST Debt
¥218M
¥200M
¥1M
¥7M
¥7M
Taxes Payable
¥9M
¥12M
¥4M
¥12M
¥10M
Non-Current Liabilities
¥388M
—
—
¥1M
¥8M
Total LT Borrowings
¥10M
—
—
¥1M
¥8M
Total Equity
¥306M
¥838M
¥1.1B
¥1.3B
¥1.3B
Capital Stock
¥1.2B
¥1.2B
¥917M
¥917M
¥917M
Capital Surplus
¥1.5B
¥1.5B
¥1.2B
¥913M
¥913M
Retained Earnings
¥-2.4B
¥-1.9B
¥-1.1B
¥-584M
¥-618M
Treasury Stock
¥-0M
¥-0M
¥-0M
¥-0M
¥-0M
Equity (owners)
¥220M
¥760M
¥1.1B
¥1.2B
¥1.2B
Minority Interests
¥34M
¥28M
¥27M
—
—
Total Interest-Bearing Debt ⓘ
¥228M
¥200M
¥1M
¥8M
¥16M
Net Cash ⓘ
¥484M
¥540M
¥882M
¥822M
¥945M
NCAV ⓘ
¥130M
¥644M
¥1.0B
¥1.2B
¥1.2B
NCAV/Share
¥16
¥78
¥133
¥157
¥151
BV/Share
¥27
¥92
¥136
¥159
¥155
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-329M
¥-604M
¥-174M
¥-114M
¥-96M
Interest Paid
¥-3M
¥-2M
¥-0M
¥-0M
¥-0M
Interest Received
¥1M
¥0M
¥0M
¥0M
¥0M
D&A
¥7M
¥11M
¥3M
¥2M
¥1M
Goodwill Amort.
¥22M
¥11M
—
—
—
Investing CF
¥-106M
¥-236M
¥-114M
¥-7M
¥-35M
CapEx
¥3M
¥2M
¥3M
¥33M
¥2M
Purchase Investments
—
—
¥-30M
—
—
Financing CF
¥406M
¥697M
¥341M
¥-9M
¥-7M
Free Cash Flow
¥-332M
¥-606M
¥-178M
¥-147M
¥-98M
Net Change in Cash
¥-29M
¥-143M
¥53M
¥-130M
¥-138M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
-94.3%
-82.3%
-42.2%
2.8%
-10.4%
ROA
-48.6%
-67.8%
-38.9%
2.4%
-9.4%
EPS
¥-65.21
¥-98.61
¥-64.51
¥4.33
¥-16.68
BPS
¥26.59
¥91.80
¥142.71
¥162.67
¥160.77
FCF/Share
¥-40
¥-73
¥-23
¥-19
¥-13
NCAV/Share
¥16
¥78
¥133
¥157
¥151
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 8
Date Activist Stake Event Flag Demands Source
2026-03-18
Milestone Capital Management,Ltd.
19.66%
-0.27%
change
Passive
—
2025-12-04
Milestone Capital Management,Ltd.
19.93%
initial_5pct
Passive
—
2025-04-24
Takeru Hiki
35.42%
+0.45%
correction
Passive
—
2025-04-04
Takeru Hiki
34.97%
-0.65%
change
Passive
—
2024-08-23
Takeru Hiki
35.62%
change
Passive
—
2024-05-08
Chubu Electric Power Company, Incorporated
5.26%
initial_5pct
Passive
—
2023-11-14
SUZUKEN CO.,LTD.
21.17%
initial_5pct
Passive
—
2023-11-14
Digital Garage, Inc.
2.3%
change
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
比木 武
2,840
34.32%
2
SUZUKEN CO.,LTD.
株式会社スズケン
1,657
20.03%
3
株式会社ブライトリンクパートナーズ
449
5.43%
4
Chubu Electric Power Company,Incorporated
中部電力株式会社
434
5.25%
5
日本郵政キャピタル株式会社
354
4.29%
6
姜 琪鎬
242
2.93%
7
Digital Garage, Inc.
株式会社デジタルガレージ
180
2.18%
8
株式会社ワン
120
1.46%
9
株式会社キョーエン
86
1.05%
10
サンエイトOK組合
77
0.94%
Domestic Nominees
0.0%
+0.0% 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
77.9%
-0.5% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
比木 武
37.46%
34.52%
34.32%
-0.20%
SUZUKEN CO.,LTD.
式会社スズケン
21.17%
20.03%
20.03%
式会社ブライトリンクパートナーズ
5.74%
5.43%
5.43%
Chubu Electric Power Company,Incorporated
中部電力
—
5.25%
5.25%
日本郵政キャピタル
4.53%
4.29%
4.29%
姜 琪鎬
3.09%
2.93%
2.93%
Digital Garage, Inc.
式会社デジタルガレージ
2.30%
2.18%
2.18%
式会社ワン
1.54%
1.46%
1.46%
式会社キョーエン
1.11%
1.05%
1.05%
サンエイトOK組合
1.28%
1.21%
0.94%
-0.27%
野村證券
last seen 2023
Exited Top 10
1.71%
—
—
Concentration (HHI)
ⓘ
1928
1686
1672
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved