Overview
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Green Monster Inc.

The company develops and operates smartphone applications for experiential investment learning, including FX demo trading ('FX Navi'), stock investment demo trading ('Kabutasu'), and asset formation simulation ('Toushika'), targeting first-time retail investors. Its primary revenue model is performance-based affiliate commissions earned when app users open brokerage or FX accounts through in-app referrals. Through consolidated subsidiaries, the group also operates an investment school ('Toushi no Gakko Premium') serving over 150,000 cumulative students, and provides financial planning services (life planning, housing, inheritance consulting) to corporate and individual clients.

Market Cap
¥2.26B
US$14.4M
EV
¥1.51B
US$9.64M
Stock¥704▼-1.81%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
2.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+11.5%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
2.26BUS$14.4MMarket Cap0.34BUS$2.17M+ Debt1.09BUS$6.96M− Cash0.00BUS$0.00M− Inv. Sec.1.51BUS$9.64MEV
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Performance & Balance
Revenue 5Y (¥B)
1.40US$8.91M'22/61.71US$10.9M'23/61.96US$12.5M'24/62.01US$12.8M'25/61.92US$12.3M'26/6
EBITDA 5Y (¥B)
0.24US$1.51M'24/60.14US$0.89M'25/6-0.26-US$1.66M'26/6
Net Income 5Y (¥B)
0.04US$0.25M'22/60.12US$0.78M'23/60.16US$0.99M'24/60.03US$0.20M'25/6-0.38-US$2.39M'26/6
Capital Structure
75%
25%
EquityD/E 0.33xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
'22/60.05US$0.32M'23/61.54US$9.82M0.06US$0.39M'24/61.19US$7.56M0.05US$0.32M'25/61.09US$6.96M0.34US$2.17M'26/6
Shareholders
Top 10 hold 66.5%
1
SUMO JAPAN VENTURES SEGREGATED PORTFOLIO OF FUNDVIEWS SPC LTD (Standing Proxy: MUFG Bank, Ltd.)
28.14%
2
Arisa FUJISAWA
9.96%
3
Ryo OGAWA
6.27%
4
ABN AMRO CLEARING BANK N.V., SINGAPORE BRANCH (Standing Proxy: ABN AMRO Clearing Tokyo Co., Ltd.)
4.70%
5
Rakuten Securities, Inc.
3.58%
6
Hifumi KUBO
3.40%
7
GMO CLICK Securities, Inc.
3.40%
8
WM Growth 4 Investment Limited Partnership
2.78%
9
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
2.56%
10
Masakazu NAKATANI
1.70%
Management
9 officers
Ryo OGAWA
Representative Director, President
Nov 2005 Joined Index Corporation (now EXIT Inc.) Mar 2014 Joined the Company Mar 2014 Representative Director of the Company (current)
1978-09-10
William WANG
Representative Director, Chairman
Nov 2011 Co-founder and COO, Hypemarks, Inc. Mar 2014 Head of Corporate Development, Chinasoft International Ltd. Jan 2022 BC Technology Group Limited (now OSL Group Ltd.) Jun 2022 Partner, Nova River LP Aug 2025 Managing Director, SUMO Ventures Management, LLC. (current) Jan 2026 Joined the Company; Executive Officer in charge of Blockchain Infrastructure Business Jun 2026 Director of the Company Jul 2026 Representative Director of the Company (current)
1990-03-09
Arisa FUJISAWA
Director
Apr 2008 Joined Recruit Co., Ltd. Jan 2009 Joined Hikaku.com Inc. (now Temairazu Inc.) Jan 2010 Joined Index Corporation (now EXIT Inc.) Jul 2013 Joined the Company Mar 2014 Director of the Company (current)
1985-12-30
Tatsushi WATANABE
Director
Apr 1996 Joined Nomura Securities Co., Ltd. Mar 2010 Managing Director, Nomura Securities Co., Ltd. Jun 2014 Executive Officer, Thomson Reuters Markets K.K. (now Refinitiv Japan K.K.) Jan 2018 Representative Director and President, Payward Japan K.K. Sep 2018 Representative Director and President, Payward Asia K.K. Jun 2020 Principal Director, Accenture K.K. Sep 2021 Representative Director and President, The Bank of New York Mellon Trust Company (Japan), Ltd. Jan 2023 Director, Dentsu Inc. Jan 2025 COO, 400F Inc. Oct 2025 Representative Director and President, 5.0Lab Inc. (current) Jun 2026 Director of the Company (current)
1972-08-06
Akira NOKINA
Director
Apr 1982 Joined Nikko Securities Co., Ltd. (now SMBC Nikko Securities Inc.) Apr 2016 Representative Director and Chairman, Nikko Systems Solutions Co., Ltd. Jun 2017 Outside Director, Japan Post Co., Ltd. Jul 2018 Outside Director, Business Coach Co., Ltd. (current) Jan 2019 Outside Director, Ohara Inc. (current) Jun 2019 Representative Director and Chairman, Hokuyo Securities Co., Ltd. Jun 2022 Outside Director, Hasegawa Co., Ltd. (current) Sep 2025 Director of the Company (current)
1958-01-20
Ryan RABAGLIA
Director
Jan 2014 Established ANX International Ltd. (Co-founder) Apr 2016 Established Octagon Strategy Ltd. (Co-founder) Jul 2018 Managing Director, BC Technology Group Limited (now OSL Group Ltd.) Mar 2019 Established Libra Capital Ventures Pte. Ltd. (Co-founder and CIO) Sep 2023 Director, Blockchain.com Singapore Pte. Ltd. (current) Sep 2023 Director, Blockchain.com Cayman Limited (current) Jun 2026 Director of the Company (current)
1977-10-01
Tetsuya MIYAKOSHI
Full-time Audit & Supervisory Board Member
Apr 1986 Joined Mitsubishi Trust and Banking Corporation (now Mitsubishi UFJ Trust and Banking Corporation) Nov 2016 Director, Ryoshin Holdings Co., Ltd. Mar 2021 Full-time Audit & Supervisory Board Member, Miyoshi Oil & Fat Co., Ltd. Sep 2025 Full-time Audit & Supervisory Board Member of the Company (current)
1962-09-11
Takashi SUEHIRO
Audit & Supervisory Board Member
Apr 1998 Joined Nippon Broadcasting System, Inc. Nov 2001 Joined Tokyo Survey Research Co., Ltd. (now H.M. Marketing Research, Inc.) Jan 2007 Joined Deloitte Touche Tohmatsu LLC Oct 2011 Joined GMO Internet, Inc. (now GMO Internet Group, Inc.) Jun 2014 Audit & Supervisory Board Member, Sansan, Inc. Aug 2015 Outside Director (Audit and Supervisory Committee Member), Neo Marketing Inc. Jun 2017 Audit & Supervisory Board Member, Shin Nihon Consultant Co., Ltd. (now NiX JAPAN Inc.) Jun 2017 Expert Director, Seikatsu Kyodo Kumiai Pal System Tokyo Sep 2020 Audit & Supervisory Board Member of the Company (current) Mar 2021 Audit & Supervisory Board Member, Aiming Inc. (current)
1974-06-12
Atsushi KAWAMURA
Audit & Supervisory Board Member
Apr 1994 Joined Tokai Bank, Ltd. Jul 1997 Seconded to Tokai Bank Europe plc Jan 2008 Joined Sato Sogo Law Office Mar 2017 Tokyo Aoi Law Office (current) Jun 2020 Part-time Auditor, Okazaki Shinkin Bank (current) Dec 2020 Audit & Supervisory Board Member of the Company (current)
1969-05-30
Large Shareholding Reports
Milestone Capital Management Co., Ltd.
2026-08-05
16.39%
Ryo OGAWA
2026-01-13
34.43%→5.28%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-06-30): 6.27%
Ryo OGAWA
2025-12-24
34.80%→34.43%
Annual report (as of 2026-06-30): 6.27%
Sumo Japan Ventures Segregated Portfolio of Fundviews SPC Ltd.
2025-12-24
29.16%→29.16%
Ryo OGAWA
2025-12-24
34.43%→5.28%
Annual report (as of 2026-06-30): 6.27%
Yasuo TOKUNAGA
2025-11-27
9.40%→4.65%
Sumo Japan Ventures Segregated Portfolio of Fundviews SPC Ltd.
2025-11-20
29.16%
Ryo OGAWA
2025-11-13
34.80%→34.44%
Annual report (as of 2026-06-30): 6.27%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-28
Annual Securities Report
Period: Jul 2025 – Jun 2026
EDINET
2026-08-05
Large Shareholding Report
EDINETAmended
2026-07-23
Amended Securities Registration Statement
EDINET
2026-07-15
Securities Registration Statement
EDINETAmended
2026-06-03
Amended Semi-Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2026-05-15
Q3 Earnings Flash
FY ending Jun 2026
EDINET
2026-02-13
Semi-Annual Securities Report
Period: Jul 2025 – Jun 2026
EDINETAmended
2026-01-13
Change Report
EDINETAmended
2025-12-24
Change Report
EDINET
2025-12-24
Large Shareholding Report
EDINET
2025-12-24
Large Shareholding Report
EDINET
2025-11-27
Large Shareholding Report
EDINET
2025-11-20
Large Shareholding Report
EDINET
2025-11-13
Large Shareholding Report
TDnet
2025-11-13
Q1 Earnings Flash
FY ending Jun 2026
EDINETAmended
2025-09-25
Amended Annual Securities Report
Period: Jul 2024 – Jun 2025
EDINET
2025-09-24
Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2025-05-15
Q3 Earnings Flash
FY ending Jun 2025
EDINET
2025-02-14
Semi-Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2024-11-14
Q1 Earnings Flash
FY ending Jun 2025
EDINET
2024-09-27
Annual Securities Report
Period: Jul 2023 – Jun 2024
EDINET
2024-05-10
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINETAmended
2024-03-21
Amended Securities Registration Statement
EDINETAmended
2024-03-12
Amended Securities Registration Statement
EDINET
2024-02-26
Securities Registration Statement
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