kubell Co.,Ltd.

4448 Chatwork株式会社

Software - Application · Growth

PRICE: ¥274 · MKT CAP: ¥11.5B · P/E: 53.3x · P/B: 5.76x · DIV YIELD: 0.0%

PRICE — 5Y

Characteristics & Business Summary

kubell Co., Ltd. provides business chat services in Japan. The company offers Chatwork, a business chat tool that includes task management, file management, and video/voice calling services; business process as a service (BPaaS); Chatwork attendance...

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

Fiscal Period	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Net Sales	3,372	4,593	6,485	8,471	9,529
Operating Profit	-688	-719	-685	97	485
Ordinary Profit	-705	-725	-694	75	458
Net Profit	-696	-687	-601	-1,172	215
EPS	¥-18	¥-17	¥-15	¥-28	¥5
DPS	¥0	¥0	¥0	¥0	¥0

Balance Sheet & Valuation Highlights

Total Assets ¥7B

Net Assets (Equity) ¥2B

Equity Ratio 29.9%

ROE (Return on Equity) 10.8%

Cash & Equivalents ¥3B

Interest-Bearing Debt ¥1B

Capital Expenditure (CapEx) ¥0B

Depreciation & Amort. ¥1B

Major Shareholders

1. 株式会社Fun&Creative 48.8%
2. BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE−AC)（常任代理人株式会社三菱ＵＦＪ銀行） 4.3%
3. 山本正喜 4.2%
4. 山口勝幸 2.8%
5. Goldman Sachs 2.7%
6. BANK JULIUS BAER AND CO. LTD. SINGAPORE CLIENTS（常任代理人株式会社三菱ＵＦＪ銀行） 2.7%
7. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD − SINGAPORE BRANCH PRIVATE BANKING DIVISION A/C CLIENTS（常任代理人香港上海銀行東京支店） 2.4%
8. 井上直樹 1.4%
9. BNY Mellon (Nominee) 0.9%
10. Custody Bank of Japan, Ltd. (Trust Account) 0.8%

Activist Activity

Fun&Creative Co.,Ltd 52.37%

2026-05-12 · change

Fun&Creative Co.,Ltd 52.8%

2026-03-11 · correction

Fun&Creative Co.,Ltd 52.78%

2026-03-09 · change

Fun&Creative Co.,Ltd 53.29%

2025-02-13 · change

Fun&Creative Co.,Ltd 53.98%

2024-09-05 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues per share	¥86	¥115	¥160	¥203	¥227
FCF/Share	¥-12	¥-7	¥12	¥35	¥21
EPS	¥-18	¥-17	¥-15	¥-28	¥5
DPS	¥0	¥0	¥0	¥0	¥0
Capital Spending per share	¥0	¥0	¥0	¥0	¥1
Book Value per share	¥84	¥71	¥61	¥38	¥47
Common Shares Outstanding	39M	40M	41M	42M	42M

Financial Aggregates & Margins

Financial Aggregate	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues (Net Sales)	¥3B	¥5B	¥6B	¥8B	¥10B
Operating Margin (%)	-20.4%	-15.7%	-10.6%	1.1%	5.1%
Net Profit (owners)	¥-1B	¥-1B	¥-1B	¥-1B	¥0B
Net Profit Margin (%)	-20.6%	-15.0%	-9.3%	-13.8%	2.3%
Working Capital	¥2B	¥1B	¥-1B	¥-0B	¥0B
Total Debt (Interest-bearing)	¥0B	¥1B	¥1B	¥1B	¥1B
Net Worth (Common Equity)	¥3B	¥3B	¥2B	¥2B	¥2B
Return on Total Assets (ROA)	-13.5%	-12.7%	-9.4%	-19.2%	3.2%
Return on Common Equity (ROE)	-20.9%	-24.3%	-24.2%	-73.4%	10.8%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.