1. Japan Stocks

  2. •

    Technology

  3. •

    Software - Infrastructure
ASJ Inc.

ASJ Inc.

2351.T
ASJ Inc.JP flagTokyo Stock Exchange
332.00
JPY
+9.00
- -
2.59BMarket Cap
ASJ Inc.
2351.T
(Tokyo Stock Exchange)

Recent

price

332.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
205.88
205.41
206.71
214.22
190.65
241.75
354.32
295.58
294.94
316.19
318.84
314.26
346.34
358.06
344.8
337.98
358.06
Revenue per Share
6.35
7.05
3.72
-14.94
-6.23
3.56
-4.71
2.46
-55.94
3.08
5.53
-61.13
7.9
14.12
31.04
11.27
14.12
Basic EPS, GAAP
20.24
10.2
8.15
-6.5
-1.76
2.39
-10.19
-18.84
-52.96
-12.52
11.33
-8.07
20.36
0.96
-40.08
30.54
0.96
Free Cash Flow per Basic Share
2.04
2.03
2.04
2.03
2
2
1.97
1.76
2
2
1.99
1.99
2
2.01
2
3.03
2.01
Dividend per Share
263.87
268.92
270.64
256.74
249.44
106.96
98.2
262.73
198.73
199.8
203.1
138.51
144
156.12
185.14
195.15
156.12
Book Value per Share
282.34
285.17
288.31
298.92
292.7
199.01
191.78
279.65
243.16
234.43
233.97
239.25
244.05
252.97
273.79
282.82
252.97
Tangible Book Value per Share
6
6
6
6
6
6
6
8
8
8
8
8
8
8
8
8
8
Basic Weighted Avg Shares
1,327
1,324
1,333
1,366
1,211
1,536
2,296
2,267
2,316
2,483
2,507
2,491
2,754
2,847
2,742
2,662
2,847
Sales/Revenue/Turnover
21.42
20.48
20.02
16.95
15.49
2.31
-0.96
1.45
-18.27
1.01
2.01
-19.46
2.85
3.61
5.88
4.76
3.61
Operating Margin (%)
135
129
129
133
107
111
214
201
273
260
299
320
284
273
263
279
273
Depreciation Expense
41
45
24
-95
-40
23
-30
19
-439
24
43
-485
63
112
247
89
112
Net Income, GAAP
29.9
38.95
51.99
- -
- -
42.39
- -
44.77
- -
16.82
18.03
- -
24.21
- -
- -
29.63
63.45
Effective Tax Rate (%)
3.08
3.43
1.8
-6.97
-3.27
1.47
-1.33
0.83
-18.97
0.97
1.73
-19.45
2.28
3.94
9
3.34
3.94
Profit Margin (%)
444
301
445
377
353
-62
-64
855
690
527
482
536
566
582
650
684
582
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
116
102
89
76
63
51
511
478
51
LT Debt
2,191
2,223
2,237
2,104
2,056
2,084
2,167
3,274
2,824
2,836
2,892
2,486
2,544
2,655
2,893
2,920
2,655
Total Equity
7.69
6.44
4.94
- -
- -
0.72
- -
0.56
- -
0.69
1.33
- -
2.14
- -
- -
2.48
- -
Return on Invested Capital (%)
2.06
2.27
1.2
- -
- -
1.22
- -
1.11
- -
1.48
2.49
- -
4.71
- -
- -
4.42
3.67
Return on Capital (%)
2.43
2.65
1.38
-5.63
-2.46
2
-4.64
1.42
-24.57
1.55
2.75
-35.97
5.6
9.41
18.19
5.9
9.41
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'24
ST Debt
163
163
163
LT Borrowings
57
54
51
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8
8
8
Market Capitalization
3,912
3,872
3,332

Working Capital

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'24
Total Current Assets
1,729
1,632
1,848
Cash, Cash Equivalents & STI
942
914
875
Accounts Receivable, Net
603
523
819
Inventories
130
138
95
Total Current Liabilities
1,241
1,158
1,266
Payables & Accruals
- -
- -
- -
ST Debt
163
163
163
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.63%
0.51%
0.96%
Free Cash Flow
-557.4%
-1,015.85%
-175.47%
Net Income, GAAP
-404.24%
-238.64%
-64.02%
Sales/Revenue/Turnover
6.53%
1.34%
-2.9%
Total Cash Common Dividend
7.38%
10.32%
50.02%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
595
734
673
845
2,847
2025
- -
- -
- -
- -
2,742
2026
- -
- -
- -
- -
2,662

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-5.67
1.72
1.05
- -
14.12
2025
- -
- -
- -
- -
31.04
2026
- -
- -
- -
- -
11.27

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.92
0.08
- -
- -
2.01
2025
- -
- -
- -
- -
2
2026
- -
- -
- -
- -
3.03
Similar Companies
DigiAsia Corp. (FAAS)
Gathid Ltd (RCWDF)
Cocolive Inc (137A.T)
Microsoft Corporation (MSFT.NE)
Pushpay Holdings Limited (PPH.NZ)
Wix.com Ltd. (WIX)
Business
ASJ Inc. engages primarily in internet infrastructure and software services in Japan. The company sets up and manages internet servers; provides cloud services, payment agency services including ASJ Payment, and internet consulting; designs and develops computer software and smartphone applications for iOS and Android; offers digital content such as online games Dream Baseball and The Story of Chrono Heroes, and online novels like Nobepro!; and leases and manages real estate properties. Through subsidiaries including ITECS Corporation for ERP software services, ASJ Commerce Inc. for web shop services, logistics, and wholesale, eFUSION Co., Ltd. for website management planning, production, and smartphone app development, and ASUSA Corporation for R&D in the United States, ASJ extends its operations domestically in Japan and internationally in the U.S. ASJ Inc., founded in 1984 and headquartered in Kawaguchi, Saitama, Japan, lists on the Tokyo Stock Exchange Growth Market under ticker 2351. In fiscal year 2025, the company reported net income growth of 120% to 246 million yen despite a 3.7% revenue decline, reflecting improved profit margins to 9.0% amid ongoing focus on core internet services.