5246
ELEMENTS, Inc.
株式会社ELEMENTS
Information & Communication
ELEMENTS, Inc., together with its subsidiaries, provides data-based personal authentication and optimization solutions as backend-as-a-service to service providers across various industries in Japan. The company offers LIQUID eKYC and Polarise eKYC, an online identity verification service; LIQUID Auth, an authentication service; PASS, a digital identity wallet; GPASS, a digital ID wallet for foreigners; office diagnostic report, which is a digital transformation service for office relocation and renovation; MyPlace for Home, a smart home/smart city platform; my IDEAL, a size matching service; Coordware, a personalized marketing for E-Commerce using generative AI; ELEMENTS cloud, a GPU cloud for AI development; and AiQ PERMISSION, an AI automatic refueling permit monitoring system. It also engages in the research and development of image recognition engines and data analysis platforms; offers optimization service for office living environment and biometric authentication service; and engages in construction of cloud environment construction and data center operation business, as well as engages in healthcare, web advertising, and medical supply business. ELEMENTS, Inc. was incorporated in 2013 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 ↗
Net Sales
¥3.9B
¥2.5B
¥1.9B
¥1.7B
Cost of Sales
¥877M
¥362M
¥441M
¥563M
Gross Profit
¥3.0B
¥2.2B
¥1.5B
¥1.1B
SG&A
¥3.2B
¥2.1B
¥1.8B
¥1.7B
Operating Income
¥-215M
¥58M
¥-297M
¥-580M
Non-Operating Income
¥4M
¥1M
¥11M
¥21M
Interest Income
¥4M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥90M
¥86M
¥69M
¥42M
Interest Expense
¥42M
¥26M
¥14M
¥11M
Ordinary Income
¥-301M
¥-27M
¥-355M
¥-601M
Pre-tax Income
¥-1.0B
¥-27M
¥-369M
¥-672M
Income Taxes
¥-168M
¥56M
¥4M
¥2M
Current Tax
¥28M
¥68M
¥2M
¥2M
Deferred Tax
¥-197M
¥-12M
¥2M
—
Net Income (owners)
¥-701M
¥-133M
¥-339M
¥-562M
Minority Interest
¥-145M
¥50M
¥-34M
¥-112M
Comprehensive Income
¥-845M
¥-83M
¥-373M
¥-674M
EBITDA
¥147M
¥262M
¥-284M
¥-572M
Goodwill Amort. (J-GAAP)
¥90M
¥54M
—
—
EPS
¥-28.14
¥-5.66
¥-16.07
¥-39.47
Shares Outstanding
27.1M
24.5M
22.0M
20.0M
Shares Issued (total)
27.1M
24.5M
22.0M
20.0M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
Total Assets
¥7.2B
¥4.9B
¥3.6B
¥2.4B
Current Assets
¥4.5B
¥3.2B
¥3.2B
¥2.3B
Cash & Deposits
¥3.3B
¥2.7B
¥2.8B
¥2.1B
Trade Receivables
¥757M
¥392M
¥374M
¥170M
Non-Current Assets
¥2.7B
¥1.7B
¥414M
¥55M
PP&E
¥322M
¥245M
¥50M
¥17M
Goodwill
¥1.0B
¥304M
—
—
Intangible Assets
¥2.2B
¥1.3B
¥117M
¥2M
Investment Securities
¥164M
¥177M
¥203M
¥12M
Deferred Tax Assets
—
¥5M
—
—
Total Liabilities
¥3.7B
¥2.3B
¥2.6B
¥1.7B
Current Liabilities
¥1.8B
¥707M
¥876M
¥875M
ST Debt
¥1.1B
¥314M
¥654M
¥641M
Taxes Payable
¥3M
¥20M
¥2M
¥2M
Non-Current Liabilities
¥1.8B
¥1.6B
¥1.7B
¥792M
Total LT Borrowings
¥1.6B
¥1.2B
¥790M
¥792M
Deferred Tax Liab.
—
¥202M
¥2M
—
Total Equity
¥3.6B
¥2.6B
¥1.0B
¥685M
Capital Stock
¥10M
¥10M
¥10M
¥100M
Capital Surplus
¥5.0B
¥3.2B
¥5.3B
¥4.4B
Retained Earnings
¥-1.8B
¥-1.1B
¥-4.5B
¥-4.1B
Equity (owners)
¥3.2B
¥2.1B
¥884M
¥424M
Minority Interests
¥113M
¥316M
—
¥260M
Total Interest-Bearing Debt ⓘ
¥2.7B
¥1.5B
¥1.4B
¥1.4B
Net Cash ⓘ
¥548M
¥1.2B
¥1.3B
¥631M
NCAV ⓘ
¥841M
¥899M
¥587M
¥630M
NCAV/Share
¥31
¥37
¥27
¥31
BV/Share
¥118
¥86
¥40
¥21
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
Operating CF
¥-498M
¥223M
¥-341M
¥-567M
Interest Paid
¥-42M
¥-26M
¥-19M
¥-13M
Interest Received
¥4M
¥0M
¥0M
¥0M
D&A
¥272M
¥151M
¥14M
¥8M
Goodwill Amort.
¥90M
¥54M
—
—
Investing CF
¥-1.9B
¥-838M
¥-684M
¥-11M
CapEx
¥183M
¥239M
¥43M
¥11M
Financing CF
¥2.9B
¥619M
¥1.7B
¥371M
LT Debt Repaid
¥-88M
¥-64M
¥-3M
¥-83M
Free Cash Flow
¥-681M
¥-16M
¥-385M
¥-578M
Net Change in Cash
¥529M
¥4M
¥679M
¥-207M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
ROE
-22.6%
-7.3%
-39.8%
-82.0%
ROA
-11.5%
-3.1%
-11.3%
-23.9%
EPS
¥-28.14
¥-5.66
¥-16.07
¥-39.47
BPS
¥118.05
¥85.95
¥40.26
¥21.13
FCF/Share
¥-25
¥-1
¥-18
¥-29
NCAV/Share
¥31
¥37
¥27
¥31
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 35
Date Activist Stake Event Flag Demands Source
2026-05-19
YASUHIRO KUDA
24.53%
-3.43%
change
Passive
—
2026-02-25
BOC.INC
4.52%
change
Passive
—
2026-02-25
BOC.INC
4.52%
correction
Passive
—
2025-12-04
Amova Asset Management Co., Ltd.
4.6%
-1.52%
change
Passive
—
2025-09-19
Amova Asset Management Co., Ltd.
6.12%
change
Passive
—
2025-05-21
Nikko Asset Management Co.,Ltd.
6.22%
+1.73%
initial_5pct
Passive
—
2025-04-21
Nikko Asset Management Co.,Ltd.
4.49%
-2.88%
change
Passive
—
2025-03-13
BOC Inc.
5.3%
correction
Passive
—
2025-03-11
BOC Inc.
5.3%
-1.01%
change
Passive
—
2024-09-04
Nomura Securities Co.,Ltd.
4.3%
-2.68%
change
Passive
—
2024-08-02
YASUHIRO KUDA
29.07%
change
Passive
—
2024-08-02
YASUHIRO KUDA
27.96%
-1.11%
change
Passive
—
2024-08-01
YASUHIRO KUDA
30.91%
-2.19%
change
Passive
—
2024-07-19
Nikko Asset Management Co.,Ltd.
7.37%
-1.73%
change
Passive
—
2024-07-18
Nomura Securities Co.,Ltd.
6.98%
+0.28%
change
Passive
—
2024-07-11
HIROKI HASEGAWA
5.05%
correction
Passive
—
2024-07-10
HIROKI HASEGAWA
5.05%
initial_5pct
Passive
—
2024-07-05
BOC Inc.
6.31%
change
Passive
—
2024-07-03
YASUHIRO KUDA
35.8%
correction
Passive
—
2024-07-03
YASUHIRO KUDA
33.1%
-2.7%
change
Passive
—
2024-06-27
Nikko Asset Management Co.,Ltd.
9.1%
-1.68%
change
Passive
—
2024-06-05
Nomura Securities Co.,Ltd.
6.7%
initial_5pct
Passive
—
2024-04-22
YASUHIRO KUDA
34.6%
change
Passive
—
2024-04-18
Heights Capital Management, Inc.
3.94%
-1.22%
change
Passive
—
2024-04-16
Heights Capital Management, Inc.
5.16%
-0.84%
change
Passive
—
2024-04-01
Heights Capital Management, Inc.
6.0%
-1.92%
change
Passive
—
2024-03-28
Heights Capital Management, Inc.
7.92%
-0.71%
change
Passive
—
2024-03-18
Heights Capital Management, Inc.
8.63%
-1.39%
change
Passive
—
2024-03-13
Heights Capital Management, Inc.
10.02%
-0.55%
change
Passive
—
2024-03-11
Heights Capital Management, Inc.
10.57%
+1.84%
change
Passive
—
2023-11-20
Nikko Asset Management Co.,Ltd.
10.78%
-1.07%
change
Passive
—
2023-11-08
Heights Capital Management, Inc.
8.73%
-3.74%
change
Passive
—
2023-11-01
Nikko Asset Management Co.,Ltd.
11.85%
-0.72%
change
Passive
—
2023-10-19
Nikko Asset Management Co.,Ltd.
12.57%
change
Passive
—
2023-09-11
Heights Capital Management, Inc.
12.47%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
久田 康弘
6,600,000
24.34%
2
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
2,033,500
7.49%
3
株式会社BOC
1,235,900
4.55%
4
楽天証券株式会社共有口
858,216
3.16%
5
上田八木短資株式会社
657,300
2.42%
6
株式会社SBI証券
456,700
1.68%
7
三菱UFJeスマート証券株式会社
251,670
0.92%
8
東急不動産株式会社
236,200
0.87%
9
KDDI株式会社
236,000
0.87%
10
NOMURA INTERNATIONAL PLC A/C JAPAN FLOW(常任代理人野村證券株式会社)
230,811
0.85%
Domestic Nominees
7.5%
+3.0% 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
39.7%
-7.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
久田 康弘
35.50%
26.93%
24.34%
-2.59%
日本カストディ銀行
5.03%
4.50%
7.49%
+2.99%
式会社BOC
7.10%
6.04%
4.55%
-1.49%
楽天証券株式会社共有口
NEW ENTRY
—
—
—
3.16%
NEW
上田八木短資
3.34%
3.00%
2.42%
-0.58%
式会社SBI証券
NEW ENTRY
—
—
—
1.68%
NEW
三菱UFJeスマート証券
NEW ENTRY
—
—
—
0.92%
NEW
東急不動産
1.07%
0.96%
0.87%
-0.09%
KDDI
NEW ENTRY
—
—
—
0.87%
NEW
NOMURA INTERNATIONAL PLC A/C JAPAN FLOW
NEW ENTRY
—
—
—
0.85%
NEW
野村信託銀行株式会社(投信口)
last seen 2024
Exited Top 10
4.94%
3.31%
—
楽天証券
last seen 2024
Exited Top 10
—
2.74%
—
式会社SBI証券
last seen 2024
Exited Top 10
—
2.03%
—
JP JPMSE LUX RE JEFFERIES INTL LTD EQ CO
last seen 2024
Exited Top 10
—
1.21%
—
山谷 明洋
last seen 2024
Exited Top 10
1.31%
1.00%
—
加藤 寛之
last seen 2023
Exited Top 10
4.55%
—
—
BNY Mellon
last seen 2023
Exited Top 10
3.06%
—
—
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
last seen 2023
Exited Top 10
2.04%
—
—
Concentration (HHI)
ⓘ
1409
817
691
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved