Cybozu, Inc.

サイボウズ株式会社

Information & Communication

Cybozu, Inc. engages in the development, sale, and operation of groupware in Japan. The company offers kintone for creating business applications without coding; Office, a groupware for small and medium-sized businesses; Garoon groupware for large projects; Mailwise for email communication within the team. It also provides cloud infrastructure site; and remote services. The company was incorporated in 1997 and is based in Chuo, Japan.

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Price

¥2,539

Market Cap

¥117.4B

Ent. Value

¥105.8B

Net Cash

¥11.7B

Shares Out.

46.2M

P / E

16.6×

EV / EBIT

10.5×

P / Book

6.59×

P / NCAV

16.56×

Div. Yield

1.58%

Financials

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥37.4B	¥29.7B	¥25.4B	¥22.1B	¥18.5B
Cost of Sales	¥3.7B	¥2.9B	¥2.4B	¥2.0B	¥1.3B
Gross Profit	¥33.7B	¥26.7B	¥23.1B	¥20.1B	¥17.1B
SG&A	¥23.6B	¥21.8B	¥19.7B	¥19.5B	¥15.7B
Operating Income	¥10.1B	¥4.9B	¥3.4B	¥611M	¥1.4B
Non-Operating Income	¥307M	¥543M	¥250M	¥449M	¥71M
Dividend Income	¥20M	¥17M	¥14M	¥5M	¥0M
Interest Income	¥14M	¥6M	¥5M	¥1M	¥1M
Non-Operating Expenses	¥82M	¥100M	¥64M	¥73M	¥43M
Interest Expense	¥0M	¥0M	¥2M	¥23M	¥6M
Ordinary Income	¥10.3B	¥5.3B	¥3.6B	¥987M	¥1.5B
Pre-tax Income	¥10.3B	¥5.2B	¥3.5B	¥938M	¥1.5B
Income Taxes	¥3.3B	¥1.6B	¥1.0B	¥871M	¥935M
Current Tax	¥3.8B	¥2.0B	¥1.4B	¥678M	¥929M
Deferred Tax	¥-521M	¥-338M	¥-323M	¥193M	¥6M
Net Income (owners)	¥7.1B	¥3.6B	¥2.5B	¥66M	¥551M
Minority Interest	¥-51M	¥0M	—	—	—
Comprehensive Income	¥7.4B	¥4.0B	¥2.7B	¥-427M	¥470M
EBITDA	¥12.7B	¥7.1B	¥5.4B	¥2.1B	¥2.5B
Goodwill Amort. (J-GAAP)	¥5M	—	—	—	—
EPS	¥153.17	¥74.99	¥52.29	¥1.45	¥12.03
Shares Outstanding	46.2M	46.2M	47.6M	45.9M	45.9M
Shares Issued (total)	52.8M	52.8M	52.8M	52.8M	52.8M
Treasury Shares	6.5M	6.6M	5.1M	6.9M	6.9M

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥30.1B	¥21.1B	¥19.2B	¥15.9B	¥14.0B
Current Assets	¥19.4B	¥11.9B	¥11.5B	¥9.3B	¥8.4B
Cash & Deposits	¥11.7B	¥5.6B	¥6.5B	¥5.1B	¥4.8B
Trade Receivables	¥5.2B	¥4.2B	¥3.4B	¥2.8B	—
Non-Current Assets	¥10.7B	¥9.2B	¥7.7B	¥6.7B	¥5.7B
PP&E	¥4.9B	¥4.4B	¥4.0B	¥3.6B	¥2.4B
Goodwill	¥106M	—	—	—	—
Intangible Assets	¥721M	¥438M	¥265M	¥156M	¥86M
Investment Securities	¥2.7B	¥2.3B	¥1.5B	¥1.3B	¥2.0B
Deferred Tax Assets	¥1.5B	¥1.1B	¥946M	¥700M	¥324M
Total Liabilities	¥12.3B	¥9.5B	¥8.0B	¥11.3B	¥7.7B
Current Liabilities	¥12.1B	¥9.3B	¥7.9B	¥11.1B	¥7.5B
Accounts Payable	¥0M	¥0M	¥0M	¥2M	¥0M
ST Debt	¥11M	—	—	¥4.7B	¥2.2B
Taxes Payable	¥3.0B	¥1.4B	¥1.1B	¥251M	¥299M
Non-Current Liabilities	¥215M	¥166M	¥134M	¥133M	¥131M
Total LT Borrowings	¥24M	—	—	—	—
Total Equity	¥17.8B	¥11.6B	¥11.3B	¥4.6B	¥6.4B
Capital Stock	¥613M	¥613M	¥613M	¥613M	¥613M
Capital Surplus	¥5.1B	¥5.0B	¥5.0B	¥976M	¥976M
Retained Earnings	¥14.4B	¥8.7B	¥5.8B	¥3.9B	¥5.2B
Treasury Stock	¥-4.3B	¥-4.3B	¥-1.3B	¥-1.8B	¥-1.8B
AOCI	¥1.9B	¥1.6B	¥1.1B	¥911M	¥1.4B
Equity (owners)	¥15.9B	¥10.1B	¥10.1B	¥3.7B	¥5.0B
Minority Interests	¥5M	¥3M	—	—	—

Total Interest-Bearing Debt ⓘ	¥35M	—	—	¥4.7B	¥2.2B
Net Cash ⓘ	¥11.7B	¥5.6B	¥6.5B	¥444M	¥2.6B
NCAV ⓘ	¥7.1B	¥2.5B	¥3.5B	¥-2.0B	¥703M
NCAV/Share	¥153	¥54	¥74	¥-44	¥15
BV/Share	¥343	¥218	¥212	¥81	¥108

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥10.7B	¥5.6B	¥4.5B	¥1.3B	¥472M
Interest Paid	¥0M	¥0M	¥-2M	¥-23M	¥-6M
Interest Received	¥35M	¥23M	¥19M	¥6M	¥2M
D&A	¥2.6B	¥2.3B	¥2.0B	¥1.5B	¥1.1B
Goodwill Amort.	¥5M	—	—	—	—
Investing CF	¥-3.1B	¥-3.1B	¥-2.5B	¥-3.1B	¥-1.5B
CapEx	¥2.9B	¥2.7B	¥2.3B	¥2.9B	¥1.3B
Purchase Investments	¥-59M	¥-160M	¥-75M	¥-109M	¥-123M
Financing CF	¥-1.4B	¥-3.6B	¥-777M	¥1.9B	¥1.7B
Dividends Paid	¥-1.4B	¥-662M	¥-596M	¥-550M	¥-504M
Share Buybacks	—	¥-2.9B	¥0M	¥0M	¥0M
LT Debt Repaid	¥-4M	—	¥-2.5B	¥-319M	—
Free Cash Flow	¥7.8B	¥2.9B	¥2.3B	¥-1.5B	¥-811M
Net Change in Cash	¥6.1B	¥-902M	¥1.4B	¥319M	¥849M

Metric	FY 2025 EDINET ↗	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	48.1%	31.1%	31.3%	1.2%	8.6%
ROA	27.6%	17.6%	14.2%	0.4%	3.9%
EPS	¥153.17	¥74.99	¥52.29	¥1.45	¥12.03
DPS	¥40.00	¥30.00	¥14.00	¥13.00	¥12.00
BPS	¥385.13	¥251.69	¥236.33	¥100.93	¥138.88
FCF/Share	¥169	¥63	¥48	¥-33	¥-18
NCAV/Share	¥153	¥54	¥74	¥-44	¥15
Payout Ratio	26.1%	40.0%	26.8%	896.6%	99.8%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 1

Date	Activist	Stake	Event	Flag	Demands	Source
2026-01-19	Yoshihisa Nishibata	17.01%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-14 15:30	Buyback	¥3.0B 6.5%	Cybozu, Inc. (TSE Prime 4776) announced a share buyback program on May 14, 2026, authorizing the repurchase of up to 3 m…
Summary Cybozu, Inc. (TSE Prime 4776) announced a share buyback program on May 14, 2026, authorizing the repurchase of up to 3 million shares (6.5% of outstanding shares) for a maximum aggregate amount of ¥3.0 billion. The buyback will be executed through on-market purchases on the Tokyo Stock Exchange between May 15 and July 31, 2026, aimed at rebuilding capital structure and enabling flexible capital allocation in response to changing business environments. Deadline: 2026-07-31 % of Shares: 6.5% Shares: 3,000,000 Source (JP) 取得し得る株式の総数 300万株（上限）（発行済株式総数(自己株式を除く)に対する割合6.5％）株式の取得価額の総額 30億円（上限）取得期間 2026年５月15日～2026年７月31日自己株式取得に係る事項の決定に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	畑慎也	8,159,600	17.64%
2	Ｃｂｚサポーターズ株式会社	8,106,300	17.52%
3	Japan Master Trust Bank 日本マスタートラスト信託銀行株式会社（信託口）	3,231,000	6.98%
4	Employee Stock Ownership Plan サイボウズ従業員持株会	2,356,868	5.09%
5	山田理	1,913,100	4.13%
6	RICOH COMPANY,LTD. 株式会社リコー	1,740,100	3.76%
7	中野博久	1,030,000	2.22%
8	西端慶久(青野慶久)	869,727	1.88%
9	Japan Custody Bank 株式会社日本カストディ銀行（信託口）	831,800	1.79%
10	株式会社ＳＢＩ証券	461,690	0.99%

as of 2025-12-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

8.8%

-0.7% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.0%

-1.5% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

53.2%

+0.6% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
畑慎也		17.13%	17.65%	17.64% -0.01%
Ｃｂｚサポーターズ		17.00%	17.53%	17.52% -0.01%
Japan Master Trust Bank 日本マスタートラスト信託銀行		6.75%	6.68%	6.98% +0.30%
Employee Stock Ownership Plan サイボウズ従業員持株会		5.20%	5.42%	5.09% -0.33%
山田理		4.01%	4.14%	4.13% -0.01%
RICOH COMPANY,LTD. 式会社リコー		3.65%	3.76%	3.76%
中野博久		2.16%	2.22%	2.22%
西端慶久(青野慶久)		1.79%	1.86%	1.88% +0.02%
Japan Custody Bank 日本カストディ銀行		2.20%	2.79%	1.79% -1.00%
式会社ＳＢＩ証券 NEW ENTRY	—	—	—	0.99% NEW
BNY Mellon last seen 2024	Exited Top 10	—	1.52%	—
井村俊哉 last seen 2023	Exited Top 10	2.63%	—	—
Concentration (HHI) ⓘ		704	743	737

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥2,305M +85% since 2023

Holdings 2

Trend Stable vs 2023

Held Company	FY2025 ¥2,305M total		FY2023 ¥1,248M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
繝医Κ繧ｯ繝｢譬ｪ蠑丈ｼ夂､ｾトヨクモ株式会社	2,201	800,000	1,165	800,000
SOFTCREATE HOLDINGS CORP. 株式会社ソフトクリエイトホールディングス	104	48,600	83	48,600
Portfolio total	2,305		1,248

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding