Overview
Information & Communication

Trend Micro Incorporated

Trend Micro is a global cybersecurity company that develops and provides enterprise security platforms, software, and services to protect organizations from cyber threats. Its flagship product, Trend Vision One, is an AI-powered, integrated cybersecurity platform offering proactive threat detection, attack surface management (ASM), extended detection and response (XDR), endpoint, cloud, email, network, and AI environment protection. The company serves large enterprises and organizations globally, with competitive strengths in AI-driven risk prioritization, unified multi-layer security architecture, and deep threat intelligence.

Market Cap
¥942B
US$6.00B
EV
¥706B
US$4.50B
Stock¥7,260▼-0.74%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
9.1
x
LTM EV/EBIT
13.8
x
LTM PER
26.6
x
LTM PBR
8.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-29.8%pt
10012345
Oct 23, 25 – Oct 23, 26StockTOPIX
1Dec 5, 25Q3 earnings guidance cut decline
2Feb 4, 26Outlook deterioration selling
3Feb 13, 26Post-earnings adjustment selling
4Feb 24, 26Earnings disappointment selloff
5Aug 14, 26Q2 FY2026/12 earnings announced
MC → EV Bridge
942BUS$6.00BMarket Cap0.00BUS$0.00M+ Debt220BUS$1.40B− Cash16.6BUS$105M− Inv. Sec.0.16BUS$0.99M+ NCI706BUS$4.50BEV
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Performance & Balance
Revenue 5Y (¥B)
190US$1.21B'21/12224US$1.42B'22/12249US$1.58B'23/12273US$1.74B'24/12276US$1.76B'25/12
EBITDA 5Y (¥B)
62.7US$399M'21/1255.1US$351M'22/1259.2US$377M'23/1275.3US$479M'24/1284.2US$536M'25/12
Net Income 5Y (¥B)
38.4US$244M'21/1229.8US$190M'22/1210.7US$68.3M'23/1234.4US$219M'24/1234.5US$220M'25/12
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
224US$1.43B'21/12262US$1.67B'22/12265US$1.69B'23/12175US$1.11B'24/12225US$1.43B'25/12
Shareholders
Top 10 hold 54.1%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
25.95%
2
Custody Bank of Japan, Ltd. (Trust Account)
9.79%
3
Ming-Jang CHANG
4.13%
4
BNYM AS AGT/CLTS 10 PERCENT ※a
3.56%
5
BNYMSANV RE BNYMSANVDUB RE LEGAL (AND) GENERAL UCITS ETF PLC ※a
2.87%
6
US BANK NATIONAL ASSOCIATION JP ACCTS TS ※a
1.92%
7
STATE STREET BANK AND TRUST COMPANY 505001 ※b
1.66%
8
BNYM AS AGT/CLTS NON TREATY JASDEC ※a
1.52%
9
JP MORGAN CHASE BANK 385781 ※b
1.40%
10
JP JPMSE LUX RE SOCIETE GENERALE EQ CO ※a
1.34%
Management
10 officers
Ming-Jang CHANG
Representative Director, Chairman
Dec 1988 President, Trend Micro Incorporated (USA) Dec 1995 Representative Director, the Company Mar 1997 Representative Director, President, the Company Jan 2005 Representative Director, Chairman, the Company (current)
1954-11-05
Eva CHEN
Representative Director, President, Group CEO
May 1989 Joined Trend Micro Incorporated (Taiwan) Dec 1995 Audit & Supervisory Board Member, the Company Aug 1997 Director, General Manager of Technology Development Division, the Company Mar 2002 Director, Group CTO, the Company Jan 2005 Representative Director, President, Group CEO, the Company (current)
1959-02-23
Mahendra NEGISHI
Representative Director, Executive Vice President, Group CFO
Sep 1995 Joined Merrill Lynch Japan Securities Co., Ltd. (now BofA Securities Japan Co., Ltd.) Jun 2000 Representative Director, iPeeTrend Co., Ltd. Feb 2001 General Manager, Administration Division, the Company Mar 2001 Director in charge of Finance and Accounting, the Company Mar 2002 Representative Director, Group CFO, the Company Jan 2006 Representative Director, Group COO and CFO, the Company Mar 2012 Representative Director, Executive Vice President, Group COO and CFO, the Company Mar 2014 Representative Director, Executive Vice President, Group CFO, the Company (current)
1960-03-09
Akihiko OMIKAWA
Director, Vice President in charge of Japan Region
Apr 1982 Joined Digital Equipment Japan K.K. (now Hewlett Packard Japan, Ltd.) Dec 1992 Joined Microsoft Co., Ltd. (now Microsoft Japan Co., Ltd.) May 2000 Executive Officer and General Manager, Business Internet Division, Microsoft Japan Co., Ltd. Feb 2003 Joined the Company; General Manager, Japan Region Sales & Marketing May 2003 Executive Officer, the Company Apr 2007 Senior Executive Officer, in charge of Japan Region and General Manager, Global Services Business, the Company Mar 2008 Director, in charge of Japan Region, General Manager, Global Services Business and Global Consumer Business, the Company Feb 2010 Director, in charge of Japan Region, Asia and Latin America Sales Promotion, and Head of Global Marketing Division, the Company Mar 2012 Director, Vice President, in charge of Japan Region, Asia and Latin America Sales Promotion, and Head of Global Marketing Division, the Company Jan 2016 Director, Vice President, in charge of Japan Region, Global Consumer Business, and Head of IoT Business Promotion Division, the Company Jan 2020 Director, Vice President, in charge of Japan Region, Global Consumer Business and Global IoT Business, the Company Jan 2023 Director, Vice President, in charge of Japan Region and Global IoT Business, the Company Jan 2024 Director, Vice President, the Company (current)
1959-02-24
Koichiro TOKUOKA
Director
Apr 1980 Joined Nissan Motor Co., Ltd. Sep 1999 Joined Fleishman-Hillard Japan K.K. Apr 2006 Professor, Graduate School, Tama University Jun 2017 Representative Director, Chairman, Life Shift Inc. Mar 2023 Director, the Company (current) Apr 2023 Professor Emeritus, Graduate School, Tama University (current) Dec 2023 Chairman, Life Shift Inc. (current)
1957-06-19
Fukuzo INOUE
Director
Apr 1980 Joined Nippon Telegraph and Telephone Public Corporation (now NTT Corporation) Jun 2009 Director, Broadband Service Department, Consumer Business Promotion Division, Nippon Telegraph and Telephone East Corporation (NTT East) Jun 2012 Director, Head of Corporate Planning Department, NTT East Jun 2014 Managing Director, Head of Business Development Division, NTT East Jun 2015 Representative Managing Director, Head of Business Development Division, NTT East Jun 2016 Representative Director, Executive Vice President, Head of Business Development Division, NTT East Jun 2018 Representative Director, President, NTT East Jun 2021 Representative Director, President and Executive Officer, NTT East Jun 2022 Adviser, NTT East (current) Mar 2025 Director, the Company (current) Jun 2026 Outside Director, Asahi Net, Inc. (current)
1955-07-06
Takashi HIRATA
Full-time Audit & Supervisory Board Member
Apr 1990 Joined Ryobi Ltd. Mar 2001 Section Chief, Treasury Section, Ryobi Ltd. Mar 2007 Joined the Company Jun 2023 Accounting Department, Administration Division, the Company Mar 2025 Full-time Audit & Supervisory Board Member, the Company (current)
1963-06-27
Kenichiro JOMEN
Audit & Supervisory Board Member
Oct 1996 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Apr 1999 Registered as Certified Public Accountant Sep 2000 Joined Daiko Audit Corporation Jul 2021 Representative Partner, Daiko Audit Corporation (current) Mar 2024 Audit & Supervisory Board Member, the Company (current)
1970-10-18
Miwako FUNAMOTO
Audit & Supervisory Board Member
Feb 2014 Registered as Attorney, Tokyo Bar Association; joined Resorte Sogo Law Office Jan 2020 Joined Toranomon Daiichi Law Office Feb 2022 Partner Attorney, Toranomon Daiichi Law Office (current) Jun 2023 Outside Director, AZ-COM Maruwa Holdings Inc. (current) Mar 2024 Audit & Supervisory Board Member, the Company (current) Sep 2025 Outside Audit & Supervisory Board Member, Daiichi Cutter Kogyo Co., Ltd. (current)
1979-07-30
Taeko IZUMI
Audit & Supervisory Board Member
Oct 1991 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC) Aug 1995 Registered as Certified Public Accountant Jul 1996 Joined Asea Boveri Co., Ltd. Aug 1997 Joined Hyperion Co., Ltd. (now Oracle Japan Co., Ltd.) Aug 1998 Joined SoftBank Corp. (seconded to and later transferred to the Company) Oct 2000 Joined SBI Investment Co., Ltd. (now SBI Holdings, Inc.) Apr 2015 Joined Yahoo Japan Corporation (now LY Corporation) Mar 2019 Partner, Shisai Audit Corporation Mar 2020 Outside Director, Audit and Supervisory Committee Member, Paslogi Co., Ltd. (current) Mar 2025 Audit & Supervisory Board Member, the Company (current) Jun 2025 Outside Audit & Supervisory Board Member, Mikuni Corporation (current)
1969-11-05
Large Shareholding Reports
Mitsubishi UFJ Asset Management Co., Ltd.
2026-07-21
3.11%
BlackRock Japan Co., Ltd.
2026-06-18
2.18%→2.33%
Nomura Asset Management Co., Ltd.
2026-04-15
9.50%→9.54%
Mitsubishi UFJ Asset Management Co., Ltd.
2026-04-06
2.80%→2.38%
Nomura Asset Management Co., Ltd.
2026-03-31
9.50%→9.50%
Nomura Asset Management Co., Ltd.
2026-03-26
9.43%→9.50%
Nomura Asset Management Co., Ltd.
2026-03-09
9.58%→9.43%
BlackRock Japan Co., Ltd.
2026-03-04
2.19%→2.18%
Amova Asset Management Co., Ltd.
2026-02-05
4.70%→4.77%
Amova Asset Management Co., Ltd.
2026-01-21
4.68%→4.70%
BlackRock Japan Co., Ltd.
2025-12-18
2.30%→2.19%
Nomura Asset Management Co., Ltd.
2025-11-27
9.45%→9.58%
ValueAct Capital Master Fund, L.P.
2025-09-29
6.76%→3.68%
Amova Asset Management Co., Ltd.
2025-09-19
4.53%→4.68%
Nomura Asset Management Co., Ltd.
2025-09-04
9.34%→9.45%
Mitsubishi UFJ Asset Management Co., Ltd.
2025-09-01
2.80%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-13
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-07-21
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-04-15
Large Shareholding Report
EDINET
2026-04-06
Large Shareholding Report
EDINET
2026-03-31
Large Shareholding Report
EDINET
2026-03-26
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-26
Large Shareholding Report
EDINET
2026-03-09
Large Shareholding Report
EDINET
2026-03-04
Large Shareholding Report
EDINET
2026-02-05
Large Shareholding Report
EDINET
2026-01-21
Large Shareholding Report
EDINET
2025-12-18
Large Shareholding Report
EDINET
2025-11-27
Large Shareholding Report
TDnet
2025-11-12
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-09-29
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-04
Large Shareholding Report
EDINET
2025-09-01
Large Shareholding Report
EDINET
2025-08-08
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-08
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINETAmended
2024-12-20
Amended Securities Registration Statement
EDINET
2024-12-05
Securities Registration Statement
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-09
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
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