GMO internet group, Inc.

9449 GMOインターネットグループ株式会社

Telecom Services · Prime · TSE: Disclosed

PRICE: ¥3,083 · MKT CAP: ¥308.8B · P/E: 19.6x · P/B: 3.04x · DIV YIELD: 1.7%

PRICE — 5Y

Characteristics & Business Summary

GMO internet group, Inc. provides various internet services in Japan and internationally. It operates through Internet Infrastructure Business, Internet Security Business, Internet Advertising and Media Business, Internet Financial Business, Crypto Asset...

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

Fiscal Period	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Net Sales	241	246	259	277	285
Operating Profit	41	44	42	47	59
Ordinary Profit	43	46	46	47	—
Net Profit	18	13	14	13	17
EPS	¥160	¥124	¥134	¥128	¥167
DPS	¥53	¥48	¥44	¥42	¥52

Balance Sheet & Valuation Highlights

Total Assets ¥2,037B

Net Assets (Equity) ¥240B

Equity Ratio 4.5%

ROE (Return on Equity) 15.1%

Cash & Equivalents ¥554B

Interest-Bearing Debt ¥601B

Capital Expenditure (CapEx) ¥7B

Depreciation & Amort. ¥18B

Major Shareholders

1. 株式会社熊谷正寿事務所 35.7%
2. Japan Master Trust Bank 13.2%
3. 熊谷正寿 9.0%
4. Japan Custody Bank 4.9%
5. CEP LUX-ORBIS SICAV 4.6%
6. THE BANK OF NEW YORK MELLON 2.6%
7. THE BANK OF NEW YORK 1.8%
8. ORBIS INSTITUTIONAL FUNDS LIMITED-ORBIS INSTITUTIONAL GLOBAL EQUITY（OFO）FUND 1.5%
9. STATE STREET BANK AND TRUST COMPANY 1.2%
10. KUWAIT INVESTMENT AUTHORITY 1.2%

Activist Activity

Kumagai Masatoshi Office, Ltd. 41.36%

2026-03-03 · correction

Kumagai Masatoshi Office, Ltd. 41.36%

2026-03-02 · change

Baillie Gifford & Co 4.92%

2026-02-19 · change

Baillie Gifford & Co 6.97%

2025-05-21 · change

Baillie Gifford & Co 8.0%

2024-11-21 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues per share	¥2,203	¥2,303	¥2,437	¥2,651	¥2,848
FCF/Share	¥-260	¥200	¥-8	¥560	¥484
EPS	¥160	¥124	¥134	¥128	¥167
DPS	¥53	¥48	¥44	¥42	¥52
Capital Spending per share	¥43	¥40	¥148	¥250	¥71
Book Value per share	¥633	¥617	¥698	¥747	¥1,111
Common Shares Outstanding	110M	107M	106M	105M	100M

Financial Aggregates & Margins

Financial Aggregate	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues (Net Sales)	¥241B	¥246B	¥259B	¥277B	¥285B
Operating Margin (%)	17.0%	17.8%	16.4%	16.8%	20.7%
Net Profit (owners)	¥18B	¥13B	¥14B	¥13B	¥17B
Net Profit Margin (%)	7.3%	5.4%	5.5%	4.8%	5.9%
Working Capital	¥14B	¥20B	¥29B	¥-15B	¥-45B
Total Debt (Interest-bearing)	¥274B	¥370B	¥443B	¥534B	¥601B
Net Worth (Common Equity)	¥69B	¥66B	¥74B	¥78B	¥111B
Return on Total Assets (ROA)	1.2%	0.9%	0.8%	0.6%	0.8%
Return on Common Equity (ROE)	25.3%	20.1%	19.1%	17.1%	15.1%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.