Overview
Services

DMS INC.

DMS Inc. is a Japan-based integrated direct mail and sales promotion services company, providing end-to-end direct mail solutions including planning, production, data processing, insertion/sealing, and dispatch from its in-house mailing centers. The company also operates logistics fulfillment services (warehousing, distribution processing, shipping) for mail-order and campaign merchandise, alongside sales promotion services encompassing telemarketing, web marketing, campaign planning, event management, and novelty/goods production. Its client base spans both consumer-facing and corporate sectors, with operations primarily in the Tokyo and Kansai regions of Japan.

Market Cap
US$109M
¥17.3B
EV
US$63.8M
¥10.2B
StockUS$19.94(¥3,185)▼-0.16%
US$1 = ¥159.70 (2026-11-12)
LTM EV/EBITDA
5.7
x
LTM EV/EBIT
7.0
x
LTM PER
16.4
x
LTM PBR
1.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-15.4%pt
100
Nov 13, 25 – Nov 13, 26StockTOPIX
MC → EV Bridge
US$109M¥17.3BMarket CapUS$1.49M¥0.24B+ DebtUS$36.4M¥5.81B− CashUS$9.81M¥1.57B− Inv. Sec.US$63.8M¥10.2BEV
AI Briefing
DMS Inc. delivers integrated direct mail, logistics and sales promotion services from in-house mailing centers across Japan. FY26/3 revenue US$190M (¥30.3B) with OP margin easing to 4.9% amid a modest rebound from FY25's US$173M (¥27.6B) trough. Ownership concentrated with founder-family holding over 26% alongside strategic stakes from 光通信, みずほ銀行 and TOPPANホールディングス.
Performance & Balance
Revenue 5Y (US$)
US$175M¥28.0B'22/3US$183M¥29.3B'23/3US$168M¥26.9B'24/3US$173M¥27.6B'25/3US$190M¥30.3B'26/3
EBITDA 5Y (US$)
US$13.4M¥2.13B'22/3US$14.6M¥2.33B'23/3US$10.9M¥1.75B'24/3US$9.85M¥1.57B'25/3US$11.7M¥1.86B'26/3
Net Income 5Y (US$)
US$6.52M¥1.04B'22/3US$7.19M¥1.15B'23/3US$9.51M¥1.52B'24/3US$5.27M¥0.84B'25/3US$6.87M¥1.10B'26/3
Capital Structure
99%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (US$)▲ Net Cash
CashInv. Sec.Debt
US$35.3M¥5.64BUS$1.70M¥0.27B'22/3US$53.9M¥8.61BUS$3.73M¥0.60B'23/3US$63.1M¥10.1BUS$2.78M¥0.44B'24/3US$55.7M¥8.89BUS$1.84M¥0.29B'25/3US$52.3M¥8.35BUS$1.89M¥0.30B'26/3
Business Segments (Non-consol.)
2025/03 · US$ (¥B)
82%
Direct mail
Revenue
US$143M(¥22.8B)
Segment profit
US$10.1M(¥1.62B)7.1%
11%
Logistics
Revenue
US$18.5M(¥2.95B)
Segment profit
US$0.28M(¥0.04B)1.5%
4.4%
Events
Revenue
US$7.68M(¥1.23B)
Segment profit
US$0.41M(¥0.07B)5.4%
2.4%
Sales promotions
Revenue
US$4.08M(¥0.65B)
Segment profit
US$0.78M(¥0.12B)19.0%
0.3%
Leasing
Revenue
US$0.50M(¥0.08B)
Segment profit
US$0.18M(¥0.03B)35.1%
Adjustments
Revenue
-US$0.78M(¥-0.12B)
Segment profit
-US$4.33M(¥-0.69B)
Shareholders
Top 10 hold 46.3%
1
Katsuhiko YAMAMOTO
21.35%
2
Yuriko YAMAMOTO
5.25%
3
Hikari Tsushin Inc. Investment Limited Partnership
4.50%
4
Mizuho Bank, Ltd.
4.45%
5
TOPPAN Holdings Inc.
3.68%
6
Takako FUJIKI
1.84%
7
Yumiko IMAKIIRE
1.84%
8
DMS INC. Employee Stock Ownership Association
1.50%
9
Chiharu MUKASHINO
0.92%
10
TLP Co., Ltd.
0.92%
Management
9 officers
Katsuhiko YAMAMOTO
Representative Director, President
Apr 1995 Joined Dai-Ichi Kangyo Bank, Ltd. Jun 1998 Resigned from Dai-Ichi Kangyo Bank, Ltd. Jul 1998 Joined the Company May 2000 Head of Corporate Planning Office Jun 2000 Director of the Company Apr 2001 Representative Director, President of the Company (current) May 2001 Director, DEC Co., Ltd. May 2002 Director, Toppan Direct Mail Center Co., Ltd. May 2002 Director, Tokyo Sales Produce Co., Ltd. Apr 2004 Representative Director, President, Tokyo Sales Produce Co., Ltd. May 2006 Representative Director, Chairman, DEC Co., Ltd. Jun 2008 Entrusted with Head of Administration Division
1969-03-11
Susumu KANBAYASHI
Managing Director, in charge of Kansai Branch
Mar 1986 Joined the Company Apr 2007 Head of Fourth Sales Department Jul 2014 Executive Officer, General Manager of Third Sales Division, concurrently Head of Third Sales Department and Head of Sales Planning Department Jun 2017 Director of the Company Apr 2018 Executive Officer, in charge of Communication Division, concurrently General Manager of Sales Promotion Division Apr 2019 Executive Officer, General Manager of Sales Headquarters Jun 2020 Managing Director of the Company (current) Apr 2025 Executive Officer, in charge of Kansai Branch (current)
1964-03-13
Jun KANAZAWA
Managing Director, General Manager of Operations Headquarters
Mar 1986 Joined the Company Apr 2011 General Manager of First Operations Division, concurrently Head of CRM Promotion Department I Jul 2014 Executive Officer, General Manager of First Operations Division, concurrently Head of CRM Promotion Department I Apr 2017 Executive Officer, Deputy in charge of Operations Division, concurrently General Manager of First Operations Division Jun 2017 Director of the Company Apr 2019 Executive Officer, Deputy General Manager of Operations Headquarters Apr 2020 Executive Officer, Deputy General Manager of Operations Headquarters, concurrently General Manager of First Business Division Apr 2021 Executive Officer, General Manager of Operations Headquarters (current) Jun 2022 Managing Director of the Company (current)
1962-06-27
Ken MORI
Director, General Manager of Administration Headquarters
Mar 1989 Joined the Company Apr 2019 General Manager, Corporate Planning Office Jul 2020 Executive Officer, General Manager, Corporate Planning Office Apr 2025 Executive Officer, General Manager of Administration Headquarters (current) Jun 2025 Director of the Company (current)
1965-10-14
Toshimitsu MATSUBARA
Director, General Manager of Sales Headquarters
Mar 1990 Joined the Company Apr 2018 General Manager, Fourth Sales Division, concurrently Head of Sixth Sales Department Apr 2019 General Manager, Second Sales Division, concurrently Head of Fourth Sales Department Jul 2020 Executive Officer, General Manager of Second Sales Division, concurrently Head of Fourth Sales Department Apr 2022 Executive Officer, General Manager of Second Sales Division Apr 2024 Executive Officer, General Manager of First Sales Division Apr 2025 Executive Officer, General Manager of Sales Headquarters (current) Jun 2025 Director of the Company (current)
1967-05-01
Nobuko NAKAJIMA
Director
Dec 1999 Joined Air Nippon Co., Ltd. (now All Nippon Airways Co., Ltd.) Jan 2003 Chief Purser (Head of Cabin Crew) Jul 2004 Cabin Supporter, Cabin Services Section, Haneda Airport Branch, concurrently CS Planning Department, ANACS Promotion Office Jul 2007 Group Coordinator, Cabin Services Section, Haneda Airport Branch Apr 2010 Executive Committee Member and Chief of Cabin Branch, Air Nippon Labor Union Apr 2012 Team Coordinator, Cabin Department, Tokyo Cabin Center, All Nippon Airways Co., Ltd. Mar 2017 Resigned from All Nippon Airways Co., Ltd. Jun 2024 Joined Ultima Body Co., Ltd. (specialized trading company), engaged in administrative work (current) Jun 2025 Outside Director of the Company (current)
1976-11-04
Koji TANNO
Director (Audit and Supervisory Committee Member)
Mar 1984 Joined the Company Apr 2019 General Manager, Quality Control Department Jun 2021 Director (Audit and Supervisory Committee Member) of the Company (current)
1961-03-18
Atsushi KAJITANI
Director (Audit and Supervisory Committee Member)
Apr 2000 Registered as attorney-at-law Apr 2000 Joined Kajitani Sogo Law Office (current) Jun 2004 Corporate Auditor of the Company Jun 2015 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2016 Outside Corporate Auditor, NOK Corporation Apr 2017 Vice President, Dai-Ichi Tokyo Bar Association Jun 2018 Outside Corporate Auditor, Eagle Industry Co., Ltd. Jul 2018 Specially Appointed Professor, Institute for Social Infrastructure Research, Shinshu University (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member), NOK Corporation (current) Aug 2024 Visiting Associate Professor, Juntendo University School of Medicine (current)
1968-07-01
Masayuki KAKIO
Director (Audit and Supervisory Committee Member)
Apr 1986 Joined Japan Direct Marketing Association Apr 2016 Part-time Lecturer, Graduate School of Commerce, Kansai University Apr 2016 Part-time Lecturer, Faculty of Commerce, Tokyo International University Jun 2016 Resigned from Japan Direct Marketing Association Jul 2016 Outside Director, Coreforce Co., Ltd. (now LTV-X Co., Ltd.) (current) Apr 2017 Director, Tsuhan Expert Association (now D2C Expert Association) (current) Jun 2017 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Oct 2017 Outside Director, Shinnihon Pharmaceutical Co., Ltd. Apr 2018 Part-time Lecturer, Faculty of Economics, Sophia University Apr 2022 Part-time Lecturer, Faculty of Global Media Studies, Komazawa University
1954-05-09
Large Shareholding Reports
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Koutsushin Co., Ltd.
2025-08-29
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Koutsushin Co., Ltd.
2025-08-14
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Koutsushin Co., Ltd.
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Disclosures
No disclosures
Primary Source Filings
EDINET
2026-11-13
Semi-Annual Securities Report
Period: Apr 2026 – Mar 2027
TDnet
2026-10-27
Q2 Earnings Flash
FY ending Mar 2027
TDnet
2026-07-28
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-05-15
Full-Year Earnings Flash
FY ending Mar 2026
TDnet
2026-01-27
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-10-27
業績予想の修正
EDINET
2025-09-17
Large Shareholding Report
EDINET
2025-08-29
Large Shareholding Report
EDINET
2025-08-14
Large Shareholding Report
EDINET
2025-07-29
Large Shareholding Report
TDnet
2025-07-28
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-28
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-25
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-21
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-20
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-06-28
Annual Securities Report
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