Capital efficiency, compounded further.
Profiles of mispriced Japanese cash compounders. Each profile explains what the company does, why the stock has moved, what investors care about, and what could change next — one company at a time.
For more detail, read the Methodology.
Model Portfolio of Japanese Compounders
Built with our Four Key Squares strategy and allocated using 2021–2025 market data.
Our watch list of Japanese listed companies
Sortable by market cap, ev/ebit, margins, and FCF yield.
Recent Profiles
View all profiles →ASIRO Inc.
株式会社アシロ
ASIRO runs Japan's Bennavi lawyer-referral websites, where lawyers pay monthly listing fees — a recurring base that more than tripled operating profit in FY2025. In March 2026 it lifted its payout policy above 40% as UK activist AVI built a 35% stake, larger than the founder's.
Allied Telesis Holdings K.K.
アライドテレシスホールディングス株式会社
Allied Telesis makes network switches and wireless gear, sold with on-site install and multi-year maintenance to Japan's schools, hospitals, and local governments. On June 16, 2026 it authorized a fresh buyback; the stock trades near 4x EV/EBIT with 46% of its value in net cash.
Nippon Parking Development Co., Ltd.
日本駐車場開発株式会社
Nippon Parking Development turns underused land into cash — car parks on an asset-light sublease model, plus Hakuba Valley ski resorts and regional theme parks. On June 5, 2026 it authorized a ¥1.0bn buyback, defending a target return on equity above 30% as ROE slid from 42% to 28%.
GAKUJO CO., Ltd.
株式会社学情
Gakujo runs Japan's leading recruiting media and job fairs for people in their twenties — the Re-Shukatsu career-change site, an agent, and new-graduate services. On June 8, 2026 it cut full-year operating-profit guidance to ¥2.6bn and authorized a ¥650m buyback.
Temairazu, Inc.
手間いらず株式会社
Temairazu runs TEMAIRAZU, the booking site-controller Japanese hotels use to manage inventory and rates across every online travel agency from one screen — a ~73% operating-margin, near-zero-capital subscription business. On June 5, 2026 it launched a ¥300mn buyback, with net cash worth 46% of its market value.
BayCurrent, Inc.
株式会社ベイカレント
BayCurrent sells consulting projects to Japan's largest companies; one pool of about 5,600 consultants bills by time for strategy, digital, and generative-AI work. On March 18, 2026 the board authorized a ¥30bn buyback, ten times last year's, with all repurchased shares cancelled in August.
JENOBA Co., Ltd.
株式会社ジェノバ
JENOBA turns Japan’s 1,300 public GNSS reference stations into subscription correction data for centimeter-level positioning in surveying, construction, agriculture, and drones. 9,348 paying subscribers at FY2025 year-end, ~6% five-year subscriber CAGR, 56.6% operating margin, and ¥3.0bn net cash equal to 34% of market cap.
Cyber Security Cloud, Inc.
株式会社サイバーセキュリティクラウド
Cyber Security Cloud operates Japan's #1 cloud-based WAF "Shadan-kun" and the AWS WAF auto-management service "WafCharm," accumulating 2B+ annual attack data points into proprietary AI engines. ~90% recurring revenue, sub-1% churn, and six consecutive years of 25%+ growth in both revenue and operating profit.
Rakumachi, Inc.
楽待株式会社
Rakumachi sells monthly listing subscriptions to 5,459 Japanese brokerages; the brokerages put rental apartments and small commercial properties in front of 487,000 individual investors. On May 25, 2026 the company restated the page-view figures it had called its headline audience indicator.
ONE CAREER, Inc.
株式会社ワンキャリア
ONE CAREER runs the new-graduate hiring platform two-thirds of graduating Japanese students use — a closed database of 700,000 interview reviews competitors cannot replicate. The case depends on whether a founder owning 57% reinvests a 38% return on capital, or returns it.
User Local, Inc.
株式会社ユーザーローカル
User Local is a single-segment SaaS company that helps enterprises analyze customer behavior across websites, social channels, and in-house AI chat workflows. Its earnings model combines sticky subscription revenue from legacy analytics products with newer AI-DX demand, supported by high margins and tight cost control.
Zuken Inc.
株式会社図研
Zuken turns electrical-engineering intent into the working circuit board and the wire harness — a fifty-year franchise locked into Japanese OEM design libraries. The recurring Client Services book compounds with each renewal; the case settles on a capital-return debate just beginning.
Yappli, Inc.
株式会社ヤプリ
Yappli sells the no-code platform Japanese retailers and restaurants run native apps on — a moat sub-one-percent churn underwrites. Four products attach to the same identifier layer; the case settles on a capital-return policy still unformalized.
Nippon Insure Co., Ltd.
ニッポンインシュア株式会社
Nippon Insure guarantees rent for Japanese tenants whose landlords no longer accept human cosigners — a need aging households keep widening. The case depends on whether management raises a 10% payout as cash builds against a business earning 32% on capital.
Plus Alpha Consulting Co., Ltd.
株式会社プラスアルファ・コンサルティング
Plus Alpha Consulting is an HR SaaS company in Japan, centered on Talent Palette, with sticky enterprise contracts and high returns on capital. The profile explains why the stock can re-rate if growth and capital policy become easier for investors to verify.
Toyokumo, Inc.
トヨクモ株式会社
Toyokumo sells three pieces of cloud software Japanese small companies use to send disaster-safety alerts, extend the kintone business-app platform, and manage team knowledge. The case depends on whether the NotePM acquisition earns back its goodwill, and whether ¥4.4bn of cash returns to shareholders.
Cybozu, Inc.
サイボウズ株式会社
Cybozu makes kintone, the no-code platform 39,000 Japanese companies use to build internal business apps. The case depends on whether FY25's price-revision profit jump holds at the higher cost base, and whether the May ¥3bn buyback becomes a stated policy.
A map of Japanese policy themes
Use it to find the companies, ministries, budgets, and keywords behind each policy theme.
Capital Allocation Signals
A constantly-updated screen of every Japanese company that just announced something material about how it returns or allocates capital — buybacks, dividend hikes, take-privates, treasury cancellations, and the like. Pulled directly from the TSE's TDnet feed every half hour, filtered to remove earnings reports and other routine filings.
Hover any row for a one-line summary · click to open the source disclosure (Japanese).
Source disclosures (TDnet) are filed in Japanese. Linked PDFs and viewer pages are Japanese-only.
Translations and summaries are automated. Always refer to the original Japanese disclosure for authoritative information.
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Profiles are published via JII's Substack — an editorial, ad-free distribution channel. No solicitation. No paid tier. No trading recommendations. Educational long-form analysis of Japanese listed companies, in English.
This is not investment advice.
Japan Investor Interface Co., Ltd. ("JII") is an investor-relations (IR) consultancy. JII is not a registered investment advisor, financial advisor, broker-dealer, or securities firm in any jurisdiction. JII is not registered as a Financial Instruments Business Operator (金融商品取引業者) under Japan's Financial Instruments and Exchange Act. JII does not have a 投資助言・代理業 registration and does not provide investment advice or solicit the purchase, sale, or holding of any security.
JII Compounders is an editorial publication. Each profile is an analytical study of how publicly disclosed information about a Japanese listed company has been received by the market. It is intended for educational and research purposes for IR professionals, finance students, journalists, and other readers interested in corporate disclosure practice. Nothing in this publication constitutes a recommendation, opinion, suggestion, or solicitation to buy, sell, or hold any security, derivative, or other financial instrument. Price targets, scenario ranges, multiples, and comparable-company references are illustrative of analytical method only and must not be interpreted as JII's investment opinion. JII does not have an investment opinion on any security discussed.
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本資料は、日本の金融商品取引法に基づく投資助言・代理業ではなく、特定の有価証券の売買その他の取引の勧誘・推奨を目的とするものではありません。本資料は教育・研究を目的とした分析記事であり、JII（株式会社ジャパン・インベスター・インターフェース）は、本資料の内容に基づく投資判断について一切の責任を負いません。投資の判断はご自身の責任と独立した調査に基づいて行ってください。