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Change Inc.

Change Inc.

3962.T
Change Inc.JP flagTokyo Stock Exchange
922.00
JPY
+3.00
- -
64.15BMarket Cap
Change Inc.
3962.T
(Tokyo Stock Exchange)

Recent

price

922.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2023
2024
2025
2026
TTM
FRC
32.64
34.48
38.49
48.6
103.66
167.32
224.19
276.78
511.61
661.99
- -
310.86
Revenue per Share
1.93
2.63
4.47
6.41
8.24
32.52
58.78
53.31
58.91
106.61
- -
16.6
Basic EPS, GAAP
2.21
1.16
5.32
4.04
-1.62
69.11
46.11
-59.86
136.1
97.4
- -
104.16
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
4.48
9.98
19.28
- -
0.01
Dividend per Share
8.71
14.82
17.48
25.76
69.11
96.29
125.67
212.92
261.83
358.15
- -
274.33
Book Value per Share
8.45
18.75
20.28
30.15
29.07
65.84
382.39
388.05
308.96
168.84
- -
261.99
Tangible Book Value per Share
43
45
51
54
58
63
70
72
72
70
- -
72
Basic Weighted Avg Shares
1,400
1,550
1,980
2,604
5,993
10,541
15,652
20,021
37,014
46,387
52,827
22,357
Sales/Revenue/Turnover
17.24
20.54
16.73
19.72
17.14
39.87
38.24
28.72
25.86
26.86
20.99
24.32
Operating Margin (%)
14
9
13
27
346
572
743
972
1,823
2,482
2,647
1,046
Depreciation Expense
83
118
230
344
477
2,049
4,104
3,856
4,262
7,470
6,937
1,194
Net Income, GAAP
37
32.52
29.44
31.57
31.14
33.39
30.42
30.83
39.64
37.16
34.85
50.48
Effective Tax Rate (%)
5.91
7.64
11.61
13.2
7.95
19.44
26.22
19.26
11.51
16.1
13.13
5.34
Profit Margin (%)
236
821
957
1,668
3,946
6,149
27,408
27,043
35,191
26,409
24,610
26,701
Working Capital
96
37
40
100
2,635
2,289
1,372
1,910
19,733
27,748
22,298
19,259
LT Debt
370
850
1,089
1,643
6,576
9,406
32,394
39,331
49,922
49,610
54,780
44,007
Total Equity
- -
28.29
21.14
21.66
11.86
23.86
16.99
10.08
9.58
9.59
8.38
4.62
Return on Invested Capital (%)
- -
18.65
26.72
27.45
7.25
14.95
36.51
22.58
11.36
12.34
10.41
2.52
Return on Capital (%)
- -
22.78
29.37
30.15
17.73
40.73
55.31
31.9
24.82
33.92
24.92
6.36
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
ST Debt
4,285
- -
4,795
LT Borrowings
19,286
- -
17,494
LT Finance Leases
447
- -
1,765
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
72
- -
70
Market Capitalization
90,656
86,550
100,328

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
Total Current Assets
56,089
- -
43,763
Cash, Cash Equivalents & STI
38,437
- -
25,896
Accounts Receivable, Net
13,699
- -
13,271
Inventories
402
- -
495
Total Current Liabilities
20,898
- -
17,062
Payables & Accruals
- -
- -
- -
ST Debt
4,285
- -
4,795
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
85.42%
60.51%
10.42%
Free Cash Flow
-516.39%
-125.13%
-6.97%
Net Income, GAAP
72.81%
34.58%
-7.14%
Sales/Revenue/Turnover
47.65%
40.1%
13.88%
Total Cash Common Dividend
- -
- -
7.62%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,118
9,538
14,141
8,216
37,014
2025
- -
- -
- -
- -
46,387
2026
- -
- -
- -
- -
52,827

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11.82
31.46
53.23
- -
58.91
2025
- -
- -
- -
- -
106.61
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9.56
0.4
-0.1
- -
9.98
2025
- -
- -
- -
- -
19.28
2026
- -
- -
- -
- -
- -
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Business
CHANGE Holdings, Inc. is a Japan-based holding entity primarily engaged in facilitating digital transformation across various sectors. The company delivers advanced solutions and fosters digital talent within its NEW-IT Transformation division, leveraging cutting-edge algorithms and platforms in areas such as artificial intelligence, robotics, the Internet of Things, big data analytics, cloud computing, and cybersecurity, as well as broader new-IT projects. Concurrently, its Public Tech segment concentrates on regional revitalization and digital initiatives for public agencies, notably operating a prominent hometown tax donation platform. Established in Tokyo, Japan, in 2003, the company continuously expands its service offerings to drive productivity and innovation.