5243
note inc.
note株式会社
Services
note inc. engages in the media platform, and IP content and content creation business in Japan. The company offers note, a C2C content platform that allows creators to create, publish, and sell digital content while communicating with users; note pro, an information dissemination SaaS for corporations; note money, a platform which provides financial, articles, and investment information; and services for corporations, such as organizing corporate sponsored contests on note. It is also involved in production and sales, as well as planning and content production contracts from external companies. The company was formerly known as Piece of Cake, Inc. and changed its name to note inc. in April 2020. note inc. was incorporated in 2011 and is headquartered in Tokyo, Japan.
Read more
← Companies
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 ↗
Net Sales
¥4.1B
¥3.3B
¥2.8B
¥2.3B
Cost of Sales
¥265M
¥202M
¥210M
¥216M
Gross Profit
¥3.9B
¥3.1B
¥2.6B
¥2.1B
SG&A
¥3.6B
¥3.1B
¥2.9B
¥2.8B
Operating Income
¥256M
¥53M
¥-380M
¥-732M
Non-Operating Income
¥19M
¥35M
¥12M
¥11M
Interest Income
¥3M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥13M
¥13M
¥45M
¥21M
Interest Expense
¥7M
¥1M
¥1M
¥1M
Ordinary Income
¥263M
¥75M
¥-413M
¥-742M
Pre-tax Income
¥263M
¥76M
¥-412M
¥-754M
Income Taxes
¥-178M
¥-23M
¥2M
¥3M
Current Tax
¥3M
¥4M
¥2M
¥3M
Deferred Tax
¥-181M
¥-27M
—
—
Net Income (owners)
¥441M
¥99M
¥-415M
¥-756M
Comprehensive Income
¥467M
¥99M
—
—
EBITDA
¥263M
¥62M
¥-367M
¥-712M
EPS
¥26.83
¥6.44
¥-27.50
¥-53.11
Shares Outstanding
16.7M
15.4M
15.2M
14.6M
Shares Issued (total)
16.7M
15.4M
15.2M
14.6M
Treasury Shares
0.0M
—
—
—
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
Total Assets
¥6.1B
¥3.8B
¥3.3B
¥3.3B
Current Assets
¥5.1B
¥3.7B
¥3.2B
¥3.2B
Cash & Deposits
¥3.0B
¥2.2B
¥2.0B
¥2.2B
Trade Receivables
¥268M
¥196M
¥178M
¥136M
Non-Current Assets
¥1.0B
¥98M
¥71M
¥107M
PP&E
¥3M
¥10M
¥18M
¥19M
Intangible Assets
—
—
—
¥0M
Investment Securities
¥769M
—
—
—
Deferred Tax Assets
¥193M
¥27M
—
—
Total Liabilities
¥3.3B
¥2.0B
¥1.8B
¥1.5B
Current Liabilities
¥2.7B
¥2.0B
¥1.7B
¥1.3B
ST Debt
¥70M
¥80M
¥80M
—
Taxes Payable
¥3M
¥4M
¥2M
¥3M
Non-Current Liabilities
¥613M
—
¥80M
¥160M
Total LT Borrowings
¥612M
—
¥80M
¥160M
Deferred Tax Liab.
¥0M
—
—
—
Total Equity
¥2.9B
¥1.7B
¥1.6B
¥1.8B
Capital Stock
¥85M
¥31M
¥10M
¥100M
Capital Surplus
¥2.3B
¥2.0B
¥2.0B
¥2.6B
Retained Earnings
¥432M
¥-316M
¥-415M
¥-844M
Treasury Stock
¥-0M
¥-0M
—
—
AOCI
¥27M
—
—
—
Equity (owners)
¥2.8B
¥1.7B
¥1.6B
¥1.8B
Total Interest-Bearing Debt ⓘ
¥682M
¥80M
¥160M
¥160M
Net Cash ⓘ
¥2.4B
¥2.1B
¥1.8B
¥2.0B
NCAV ⓘ
¥1.8B
¥1.6B
¥1.5B
¥1.7B
NCAV/Share
¥109
¥106
¥98
¥117
BV/Share
¥167
¥111
¥103
¥124
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
Operating CF
¥393M
¥226M
¥-347M
¥-660M
Interest Paid
¥-7M
¥-1M
¥-1M
¥-1M
D&A
¥7M
¥9M
¥13M
¥20M
Investing CF
¥-748M
¥-10M
¥-13M
¥-23M
CapEx
—
¥1M
¥12M
¥23M
Purchase Investments
¥-728M
—
—
—
Financing CF
¥1.2B
¥-38M
¥159M
¥2.0B
Share Buybacks
—
¥-0M
—
—
LT Debt Repaid
¥-98M
¥-80M
—
—
Free Cash Flow
¥393M
¥224M
¥-359M
¥-683M
Net Change in Cash
¥890M
¥178M
¥-200M
¥1.3B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
ROE
19.5%
5.8%
-24.5%
-41.6%
ROA
8.9%
2.8%
-12.5%
-22.9%
EPS
¥26.83
¥6.44
¥-27.50
¥-53.11
BPS
¥168.47
¥110.63
¥102.52
¥124.35
FCF/Share
¥23
¥15
¥-24
¥-47
NCAV/Share
¥109
¥106
¥98
¥117
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 13
Date Activist Stake Event Flag Demands Source
2026-04-22
Sadaaki Kato
26.31%
-10.37%
change
Passive
—
2026-04-13
KADOKAWA CORPORATION
5.18%
initial_5pct
Passive
—
2025-12-02
NAVER Corporation
7.91%
initial_5pct
Passive
—
2025-11-06
Nikkei Inc.
3.97%
change
Passive
—
2025-02-03
Google International LLC
6.01%
initial_5pct
Passive
—
2024-06-17
Sadaaki Kato
36.68%
correction
Passive
—
2024-06-14
Sadaaki Kato
36.68%
change
Passive
—
2024-06-14
Sadaaki Kato
36.68%
change
Passive
—
2023-08-30
Sadaaki Kato
37.53%
+0.49%
correction
Passive
—
2023-08-30
Sadaaki Kato
37.04%
correction
Passive
—
2023-08-30
Sadaaki Kato
37.04%
correction
Passive
—
2023-08-25
Sadaaki Kato
37.04%
change
Passive
—
2023-08-25
Sadaaki Kato
37.04%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 1
#
Shareholder
Shares (thou.)
% of Total
1
加藤 貞顕
5,637,000
33.66%
2
Google International LLC(常任代理人 みずほ証券株式会社)
984,200
5.88%
3
GOLDMAN SACHS INTERNATIONAL
GOLDMAN SACHS INTERNATIONAL(常任代理人 ゴールドマン・サックス証券株式会社)
970,000
5.79%
4
Nihon Keizai Newspaper Co.
株式会社日本経済新聞社
661,000
3.95%
5
NOMURA INTERNATIONAL PLC A/C JAPAN FLOW(常任代理人 野村證券株式会社)
353,700
2.11%
6
株式会社マイナビ
297,300
1.78%
7
IID, Inc.
株式会社イード
277,700
1.66%
8
TV TOKYO Holdings Corporation
株式会社テレビ東京ホールディングス
273,400
1.63%
9
楽天証券株式会社共有口
234,900
1.40%
10
JP JPMSE LUX RE UBSAG LONDON BRANCH EQCO(常任代理人 株式会社三菱UFJ銀行)
221,100
1.32%
Domestic Nominees
0.0%
-2.3% 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
59.2%
-3.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
加藤 貞顕
37.00%
36.63%
33.66%
-2.97%
Google International LLC
NEW ENTRY
—
—
—
5.88%
NEW
Goldman Sachs
6.78%
6.30%
5.79%
-0.51%
Nihon Keizai Newspaper Co.
式会社日本経済新聞社
6.50%
6.44%
3.95%
-2.49%
NOMURA INTERNATIONAL PLC A/C JAPAN FLOW
NEW ENTRY
—
—
—
2.11%
NEW
式会社マイナビ
1.95%
1.93%
1.78%
-0.15%
IID, Inc.
式会社イード
1.82%
1.80%
1.66%
-0.14%
TV TOKYO Holdings Corporation
式会社テレビ東京ホールディングス
2.69%
2.66%
1.63%
-1.03%
楽天証券株式会社共有口
NEW ENTRY
—
—
—
1.40%
NEW
JP JPMSE LUX RE UBSAG LONDON BRANCH EQCO
NEW ENTRY
—
—
—
1.32%
NEW
SBI SECURITIES Co., Ltd.
式会社SBI証券
last seen 2024
Exited Top 10
—
3.25%
—
Japan Custody Bank
日本カストディ銀行
last seen 2024
Exited Top 10
1.70%
2.33%
—
楽天証券
last seen 2024
Exited Top 10
—
2.14%
—
DAIWA CM SINGAPORE LTD-NOMINEE HARANAGA JUN
last seen 2024
Exited Top 10
1.67%
1.66%
—
UUUM
last seen 2023
Exited Top 10
2.69%
—
—
CA Startups Internet Fund1号投資事業有限責任組合 無限責任組合員株式会社サイバーエージェント・キャピタル
last seen 2023
Exited Top 10
2.03%
—
—
Concentration (HHI)
ⓘ
1489
1460
1233
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥749M
Holdings
1
Held Company
FY2025
¥749M total
Book Val ¥M
Shares
譬ェ蠑丈シ夂、セ繧ウ繧ウ繝翫Λ
㈱ココナラ
749
2,190,000
Portfolio total
749
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding
· Only one fiscal year available