LY Corporation

4689 Zホールディングス株式会社

Internet Retail · Prime · TSE: Disclosed

PRICE: ¥402 · MKT CAP: ¥2.9T · P/E: 14.4x · P/B: 0.92x · DIV YIELD: 1.7%

PRICE — 5Y

Characteristics & Business Summary

LY Corporation engages in the online advertising and e-commerce businesses in Japan. The company offers LINE, a communication app; and Yahoo! JAPAN, an internet service that provides search, news, weather, shopping, auction, and other services. It also...

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

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Net Sales	1,206	1,567	1,672	1,815	1,917	2,036	2,240
Operating Profit	162	190	315	208	315	341	—
Ordinary Profit	1	63	20	78	66	294	—
Net Profit	70	77	179	113	153	194	—
EPS	¥9	¥10	¥24	¥15	¥21	¥27	—
DPS	¥6	¥6	¥6	¥6	¥7	¥0	¥11

Balance Sheet & Valuation Highlights

Total Assets ¥11,205B

Net Assets (Equity) ¥3,714B

Equity Ratio 26.8%

ROE (Return on Equity) 6.5%

Cash & Equivalents ¥1,068B

Interest-Bearing Debt —

Capital Expenditure (CapEx) —

Depreciation & Amort. ¥176B

Major Shareholders

1. Aホールディングス㈱ 62.4%
2. The Master Trust Bank of Japan, Ltd. (Trust Account) 7.1%
3. Mizuho Bank, Ltd. 3.3%
4. Custody Bank of Japan, Ltd. (Trust Account) 2.9%
5. Mizuho Bank, Ltd. 1.4%
6. Mizuho Bank, Ltd. 0.8%
7. Mizuho Bank, Ltd. 0.7%
8. Mizuho Bank, Ltd. 0.6%
9. Mizuho Bank, Ltd. 0.5%
10. Northern Trust Company 0.5%

Activist Activity

SoftBank Corp. 59.97%

2025-07-07 · change

SoftBank Corp. 62.44%

2025-06-11 · change

SoftBank Corp. 62.44%

2025-05-14 · change

SoftBank Corp. 58.49%

2024-10-04 · change

SoftBank Corp. 63.55%

2024-09-09 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues per share	¥159	¥209	¥222	¥241	¥268	¥285	—
FCF/Share	¥24	¥29	¥0	¥33	¥59	¥93	—
EPS	¥9	¥10	¥24	¥15	¥21	¥27	—
DPS	¥6	¥6	¥6	¥6	¥7	¥0	¥11
Capital Spending per share	¥4	¥7	¥12	¥9	¥14	¥0	—
Book Value per share	¥353	¥358	¥388	¥403	¥419	¥419	—
Common Shares Outstanding	7,595M	7,493M	7,530M	7,534M	7,154M	—	—

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues (Net Sales)	¥1,206B	¥1,567B	¥1,672B	¥1,815B	¥1,917B	¥2,036B	¥2,240B
Operating Margin (%)	13.4%	12.1%	18.8%	11.5%	16.4%	16.8%	—
Net Profit (owners)	¥70B	¥77B	¥179B	¥113B	¥153B	¥194B	—
Net Profit Margin (%)	5.8%	4.9%	10.7%	6.2%	8.0%	9.5%	—
Working Capital	¥-3,470B	¥-3,569B	¥-4,854B	¥-4,909B	¥-5,113B	—	—
Total Debt (Interest-bearing)	¥767B	¥942B	¥958B	¥937B	¥856B	—	—
Net Worth (Common Equity)	¥2,682B	¥2,684B	¥2,919B	¥3,037B	¥2,998B	¥2,999B	—
Return on Total Assets (ROA)	1.0%	1.1%	2.1%	1.3%	1.7%	1.7%	—
Return on Common Equity (ROE)	2.6%	2.9%	6.1%	3.7%	5.1%	6.5%	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.