7089
for Startups, Inc.
フォースタートアップス株式会社
Services
for Startups, Inc., together with its subsidiaries, provides human resources support services for startups and growing companies in Japan. It operates through Talent Agency & Open Innovation Business; and Venture Capital Business segments. The company offers human capital, open innovation, and entrepreneurship support; TechLab technologies to undergird programs that support growth industries; and STARTUP DB, an information platform specializing in growth industries. It also invests in startups and growing companies. The company was formerly known as NET jinzai bank, Inc. and changed its name to for Startups, Inc. in March 2018. The company was founded in 2013 and is headquartered in Minato, Japan.
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← Companies
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥5.3B
¥3.7B
¥3.4B
¥3.0B
¥2.3B
Cost of Sales
¥1.1B
¥607M
¥693M
¥541M
¥362M
Gross Profit
¥4.2B
¥3.1B
¥2.7B
¥2.5B
¥2.0B
SG&A
¥3.1B
¥2.6B
¥2.3B
¥1.9B
¥1.4B
Operating Income
¥1.1B
¥453M
¥423M
¥585M
¥602M
Non-Operating Income
¥14M
¥6M
¥11M
¥4M
¥5M
Interest Income
—
¥1M
¥0M
¥0M
¥0M
Non-Operating Expenses
—
¥10M
¥6M
¥2M
¥1M
Interest Expense
—
¥4M
¥0M
¥1M
¥1M
Ordinary Income
¥1.1B
¥449M
¥428M
¥587M
¥606M
Pre-tax Income
¥1.1B
¥441M
¥397M
¥587M
¥606M
Income Taxes
¥338M
¥112M
¥147M
¥170M
¥155M
Current Tax
—
¥116M
¥189M
¥181M
¥185M
Deferred Tax
—
¥-5M
¥-42M
¥-11M
¥-29M
Net Income (owners)
¥817M
¥354M
¥386M
¥442M
¥462M
Minority Interest
—
¥-25M
¥-135M
¥-26M
¥-11M
Comprehensive Income
—
¥329M
¥248M
¥420M
¥451M
EBITDA
¥1.2B
¥531M
¥479M
¥602M
¥635M
EPS
¥124.03
¥99.60
¥107.92
¥124.76
¥133.52
Shares Outstanding
—
3.3M
3.6M
3.5M
3.5M
Shares Issued (total)
—
3.6M
3.6M
3.5M
3.5M
Treasury Shares
—
0.3M
0.0M
0.0M
—
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥5.0B
¥3.7B
¥3.2B
¥3.0B
¥2.6B
Current Assets
¥3.6B
¥2.8B
¥2.6B
¥2.6B
¥2.2B
Cash & Deposits
¥2.2B
¥1.9B
¥1.7B
¥1.7B
¥1.7B
Trade Receivables
—
¥485M
¥513M
¥331M
¥272M
Non-Current Assets
¥1.3B
¥853M
¥659M
¥402M
¥397M
PP&E
¥307M
¥348M
¥68M
¥123M
¥132M
Intangible Assets
—
—
¥0M
¥0M
¥3M
Investment Securities
¥567M
¥89M
¥62M
¥68M
¥56M
Deferred Tax Assets
—
¥111M
¥106M
¥64M
¥54M
Total Liabilities
¥1.8B
¥1.2B
¥696M
¥779M
¥866M
Current Liabilities
¥1.5B
¥788M
¥696M
¥779M
¥800M
ST Debt
¥114M
¥114M
—
¥67M
¥117M
Taxes Payable
—
¥32M
¥114M
¥3M
¥178M
Non-Current Liabilities
¥285M
¥399M
—
—
¥67M
Total LT Borrowings
¥285M
¥399M
—
—
¥67M
Total Equity
¥3.2B
¥2.5B
¥2.5B
¥2.2B
¥1.7B
Capital Stock
—
¥238M
¥238M
¥226M
¥224M
Capital Surplus
—
¥239M
¥239M
¥227M
¥224M
Retained Earnings
¥2.5B
¥2.1B
¥1.7B
¥1.3B
¥1.1B
Treasury Stock
—
¥-364M
¥-1M
¥-1M
¥-0M
AOCI
—
¥0M
¥1M
¥3M
¥0M
Equity (owners)
¥2.8B
¥2.2B
¥2.2B
¥1.8B
¥1.5B
Minority Interests
—
¥313M
¥338M
¥405M
¥165M
Total Interest-Bearing Debt ⓘ
¥399M
¥513M
—
¥67M
¥183M
Net Cash ⓘ
¥1.8B
¥1.4B
¥1.7B
¥1.7B
¥1.5B
NCAV ⓘ
¥1.8B
¥1.6B
¥1.9B
¥1.8B
¥1.3B
NCAV/Share
—
¥489
¥517
¥504
¥369
BV/Share
—
¥652
¥596
¥497
¥434
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥965M
¥356M
¥179M
¥-35M
¥606M
Interest Paid
—
¥-5M
¥-0M
¥-1M
¥-1M
D&A
¥44M
¥78M
¥56M
¥17M
¥33M
Investing CF
¥-553M
¥-252M
¥-294M
¥-91M
¥-168M
CapEx
¥2M
¥367M
¥1M
¥84M
¥49M
Purchase Investments
—
¥-30M
¥0M
¥-10M
¥-30M
Proceeds from Invest.
—
—
¥0M
—
—
Financing CF
¥-158M
¥150M
¥25M
¥153M
¥237M
Share Buybacks
—
¥-364M
—
¥-0M
¥-0M
LT Debt Repaid
—
¥-57M
¥-67M
¥-117M
¥-67M
Free Cash Flow
¥963M
¥-11M
¥179M
¥-119M
¥557M
Net Change in Cash
—
¥253M
¥-90M
¥28M
¥675M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
29.0%
16.3%
19.6%
28.7%
30.2%
ROA
18.9%
10.2%
12.4%
16.0%
18.0%
EPS
¥124.03
¥99.60
¥107.92
¥124.76
¥133.52
DPS
¥0.00
—
—
—
—
BPS
¥426.47
¥651.82
¥596.43
¥498.40
¥433.76
FCF/Share
—
¥-3
¥49
¥-34
¥158
NCAV/Share
—
¥489
¥517
¥504
¥369
Payout Ratio
0.0%
—
—
—
—
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 18
Date Activist Stake Event Flag Demands Source
2026-04-22
Rakuten Securities, Inc.
6.32%
+4.4%
change
Passive
—
2026-04-07
Rakuten Securities, Inc.
1.92%
-4.41%
change
Passive
—
2026-03-23
Rakuten Securities, Inc.
6.33%
-0.08%
change
Passive
—
2026-01-21
Rakuten Securities, Inc.
6.41%
+6.41%
initial_5pct
Passive
—
2026-01-07
Rakuten Securities, Inc.
—
exit
Passive
—
2025-10-21
Rakuten Securities, Inc.
6.5%
+4.95%
initial_5pct
Passive
—
2025-10-02
Rakuten Securities, Inc.
1.55%
-4.22%
change
Passive
—
2025-07-07
Bell Investmens Inc.
5.33%
initial_5pct
Passive
—
2025-04-22
Rakuten Securities, Inc.
5.77%
+4.48%
initial_5pct
Passive
—
2025-04-07
Rakuten Securities, Inc.
1.29%
-4.56%
change
Passive
—
2024-10-21
Rakuten Securities, Inc.
5.85%
+4.49%
initial_5pct
Passive
—
2024-10-04
Rakuten Securities, Inc.
1.36%
-4.16%
change
Passive
—
2024-04-19
Rakuten Securities, Inc.
5.52%
initial_5pct
Passive
—
2024-03-12
Yuichiro Shimizu
8.73%
correction
Passive
—
2024-03-12
NIHON KOTSU Co.,Ltd.
6.88%
initial_5pct
Passive
—
2024-03-11
WILL GROUP,INC.
24.8%
change
Passive
—
2024-03-11
WILL GROUP,INC.
4.22%
-20.58%
change
Passive
—
2024-03-08
Yuichiro Shimizu
8.73%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 1
#
Shareholder
Shares (thou.)
% of Total
1
志水 雄一郎
317,300
9.55%
2
日本交通株式会社
250,000
7.52%
3
吉川 徹
163,100
4.91%
4
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
118,700
3.57%
5
福岡地所株式会社
74,900
2.25%
6
M3, Inc.
エムスリー株式会社
73,000
2.19%
7
ベル投資事業有限責任組合1
72,800
2.19%
8
SBI SECURITIES Co., Ltd.
株式会社SBI証券
59,176
1.78%
9
小原 健
56,000
1.68%
10
日本証券金融株式会社
52,600
1.58%
Domestic Nominees
3.6%
+0.4% 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
33.6%
+3.5% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
志水 雄一郎
6.71%
8.70%
9.55%
+0.85%
日本交通
—
6.85%
7.52%
+0.67%
吉川 徹
3.29%
4.47%
4.91%
+0.44%
Japan Custody Bank
日本カストディ銀行
2.60%
3.18%
3.57%
+0.39%
福岡地所
—
2.05%
2.25%
+0.20%
M3, Inc.
エムスリー
—
2.00%
2.19%
+0.19%
ベル投資事業有限責任組合1
NEW ENTRY
—
—
—
2.19%
NEW
SBI SECURITIES Co., Ltd.
式会社SBI証券
2.66%
1.53%
1.78%
+0.25%
小原 健
1.84%
1.79%
1.68%
-0.11%
日本証券金融
NEW ENTRY
—
—
—
1.58%
NEW
楽天証券
last seen 2024
Exited Top 10
1.45%
1.39%
—
式会社グロービス・キャピタル・パートナーズ・ホールディングス
last seen 2024
Exited Top 10
—
1.37%
—
式会社ウィルグループ
last seen 2023
Exited Top 10
54.28%
—
—
杉本 容啓
last seen 2023
Exited Top 10
1.04%
—
—
戸村 憲史
last seen 2023
Exited Top 10
0.99%
—
—
清水 和彦
last seen 2023
Exited Top 10
1.06%
—
—
Concentration (HHI)
ⓘ
3025
170
208
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥3M
Holdings
1
Held Company
FY2023
¥3M total
Book Val ¥M
Shares
AERWINS Technologies Inc
3
22,684
Portfolio total
3
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding
· Only one fiscal year available