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Overview

Timee,Inc.

Timee operates Japan's No.1 spot-work (sukima baito) platform, 'Timee,' which matches workers seeking flexible, short-notice shifts with businesses needing on-demand labor—without resumes or interviews. The platform serves over 12.74 million registered workers and 417,000 client establishments (as of October 2025), primarily in logistics, food & beverage, retail, hospitality, and care industries. Clients pay a success-based fee of approximately 30% of worker wages, with no upfront or listing costs, while workers receive immediate payment upon shift completion.

Activists: TriVista Capital, Inc. 5.34%

Market Cap

¥148B

US$941M

¥145B

US$921M

Stock¥1,481▼-1.07%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

38.1

LTM EV/EBIT

39.7

LTM PER

65.0

LTM PBR

8.7

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-26.9%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Jun 12, 26Full-year FY2026/04 earnings announced

2Aug 7, 26TriVista Capital, Inc. filed large shareholding report

3Sep 11, 26May-Jul 2026 Q3 earnings: operating profit missed market forecasts, triggering sharp decline

MC → EV Bridge

AI Briefing

Timee runs Japan's No.1 spot-work marketplace, linking 12.74M workers to 417K businesses via a success-fee model, now pushing into full-time recruitment. FY25/10 revenue ¥34.3B with OP margin expanding to 19.7%, up from 15.8% a year prior — strong profitable growth trajectory since its July 2024 Growth Market listing. EBITDA set to more than double (¥3.8B LTM to ¥9.4B fwd); founder-controlled cap table (21% insider stake) keeps control tight as labor-infrastructure ambitions scale.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

57%

43%

EquityD/E 0.76xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 46.5%

as of 2026-04-30 · Source: Annual Securities Report

Rei OGAWA

21.05%

INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)

4.76%

Recolle Inc.

3.62%

MIXI,Inc.

3.13%

Custody Bank of Japan, Ltd. (Trust Account)

2.71%

MSIP CLIENT SECURITIES (Morgan Stanley MUFG Securities Co., Ltd.)

2.51%

MORGAN STANLEY SMITH BARNEY LLC CLIENTS FULLY PAID SEG ACCOUNT (Standing Proxy: Citibank, N.A., Tokyo Branch)

2.40%

GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)

2.25%

MLI FOR CLIENT GENERAL OMNI NON COLLATERAL NON TREATY-PB (Standing Proxy: BofA Securities Japan Co., Ltd.)

2.06%

Morgan Stanley MUFG Securities Co., Ltd.

2.05%

Management

9 officers

Rei OGAWA

Representative Director

Aug 2017 Established the Company; Representative Director (current) Nov 2020 Representative Director, Recolle Inc. (current) Mar 2023 Director, Spot Work Association (General Incorporated Association) (current) Jun 2025 Chairman of the Board, Levanga Hokkaido Co., Ltd. (current) Sep 2025 Director, Japan Professional Basketball League (Public Interest Incorporated Association) (current)

1997-04-13

Tomoaki YAGI

Director

Apr 2008 Joined MUFG Bank, Ltd. Oct 2014 Seconded to Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Feb 2015 Seconded to Morgan Stanley Holdings K.K. Mar 2020 Joined Apperza Inc. Dec 2020 Joined the Company; Executive Officer Apr 2021 Director of the Company (current)

1985-07-27

Shun IKEDA

Director

Apr 2012 Joined Google G.K. Nov 2015 Joined Google LLC Apr 2024 Joined the Company; Executive Officer Jan 2025 Director of the Company (current)

1989-10-08

Kazumasa WATANABE

Director

Apr 1991 Joined Recruit Co., Ltd. Dec 2006 Director, Media Shakers Inc.; Director, Coneterre Inc. Oct 2012 Executive Officer, Recruit Career Co., Ltd. Apr 2013 Board Director, 51JOB, Inc. Jun 2015 Global Executive Officer, Recruit Holdings Co., Ltd. Apr 2021 Chairman, Treatwell Limited; Chairman, Quandoo GmbH; Advisor, Recruit Co., Ltd. Jul 2022 Established Marble Arch Inc.; Representative Director (current) Sep 2022 Outside Director, Cinnamon Inc. Outside Director, Asobue Inc. (current) Outside Director of the Company (current)

1968-05-23

Shohei ONISHI

Director

Jan 2013 Joined Yahoo Japan Corporation (now LINE Yahoo Corporation) Sep 2015 Joined Sato Sogo Law Offices Dec 2018 Outside Audit & Supervisory Board Member, SmartHR, Inc. Feb 2019 Partner Attorney, Miura & Partners Apr 2019 Outside Audit & Supervisory Board Member, Wakrak Inc. Mar 2021 Outside Director (Audit and Supervisory Committee Member), SmartHR, Inc. (current) Jun 2021 Outside Director, Wellness Communications Inc. (current) May 2023 Outside Audit & Supervisory Board Member, Kaminashi Inc. (current) Apr 2025 Established OLD NEW THINGS Law Office (current) May 2025 Outside Audit & Supervisory Board Member, Monoxer Inc. (current) Jan 2026 Outside Director of the Company (current) Mar 2026 Outside Audit & Supervisory Board Member, POLA ORBIS HOLDINGS INC. (current)

1983-09-14

Akinori HARADA

Director

Apr 1998 Joined Nippon Telegraph and Telephone Corporation (now NTT, Inc.) Apr 2005 Transferred to NTT DOCOMO, Inc. Jun 2010 Representative Director, Vice President, COO, mixi, Inc. Jun 2018 Director, DeNA Co., Ltd. Mar 2020 Outside Director, akippa Inc. Dec 2021 Outside Director, Kaushe Inc. Apr 2024 Established Coalis Inc. Oct 2025 Established Coalis Capital Inc.; Representative Director (current) Jan 2026 Outside Director of the Company (current)

1975-07-08

Seiko KAWASAKI

Full-time Audit & Supervisory Board Member

Aug 1994 Joined Klein Auto Benson Securities Co. Jul 1997 Joined Salomon Brothers Securities Co. Nov 1998 Joined Tiger Management L.L.C. Aug 2000 Joined KPMG Consulting Co., Ltd. Sep 2004 Joined New York Stock Exchange Feb 2011 Joined SMBC Nikko Securities Inc. Dec 2013 Joined MoneyGram International Inc. Feb 2015 Joined Western Union Co. Aug 2017 Established Van Mokurea Rudeuffu Kawasaki G.K.; Managing Member (current) Jan 2021 Full-time Audit & Supervisory Board Member of the Company (current) Mar 2023 Part-time Audit & Supervisory Board Member, SmartNews, Inc. (current) Feb 2025 Outside Director (Audit and Supervisory Committee Member), NHN Techorus Corp. (current)

1966-03-08

Kunihiko IKEMATSU

Part-time Audit & Supervisory Board Member

Apr 1979 Joined Japan Airlines Co., Ltd. May 2001 Joined Alps Giken Co., Ltd. Mar 2003 Representative Director and President, Alps Giken Co., Ltd. Apr 2011 Joined Nidec Corporation; seconded to Nidec General Service Corporation as Representative Director and President Apr 2013 Joined Sidax Co., Ltd.; seconded to Daishinto Co., Ltd. as Director Aug 2015 Joined Toyo Work Co., Ltd.; Executive Officer Jun 2018 Representative Director and President, NOC Outsourcing & Consulting Co., Ltd. Oct 2020 Established IKE Consulting Co., Ltd.; Representative Director (current) Jan 2021 Part-time Audit & Supervisory Board Member of the Company (current) Sep 2022 Audit & Supervisory Board Member, Zip Infrastructure Co., Ltd. Dec 2024 Director, Mentor Mita-kai (General Incorporated Association) (current) Feb 2026 Representative Director, Seta Engineering Co., Ltd. (current)

1956-01-22

Tatsuya FUKANO

Part-time Audit & Supervisory Board Member

Oct 2005 Joined Azsa Audit LLC (now Azsa LLC) Sep 2008 Joined KPMG FAS Co., Ltd. Oct 2011 Opened Fukano Certified Public Accountant Office Dec 2014 Managing Partner, Stand by C Tax Corporation (now ZeLo Tax Corporation) (current) Jul 2017 Audit & Supervisory Board Member, WAmazing Inc. (current) Oct 2018 Part-time Audit & Supervisory Board Member, CINC Inc. (current) Aug 2020 Representative Director, ZeLo FAS Co., Ltd. (current) Jan 2021 Part-time Audit & Supervisory Board Member of the Company (current)

1980-10-07

Large Shareholding Reports

Norges Bank

2026-10-15

5.04%→6.30%

Norges Bank

2026-09-18

5.04%

Rei OGAWA

2026-09-18

19.81%→19.81%

Annual report (as of 2026-04-30): 21.05%

Rei OGAWA

2026-09-17

20.88%→19.81%

Annual report (as of 2026-04-30): 21.05%

TriVista Capital Co., Ltd.

2026-08-07

5.34%

Fidelity Management & Research Company LLC

2026-06-23

2.77%→2.63%

FMR LLC

2026-06-23

—

Fidelity Management & Research Japan Limited

2026-06-23

2.22%→1.88%

FMR LLC

2026-06-23

—

Fidelity Management & Research Company LLC

2026-06-09

2.77%

FMR LLC

2026-06-09

—

FMR LLC

2026-03-23

5.64%→3.05%

FMR LLC

2026-03-06

5.74%→5.64%

FMR LLC

2026-02-20

5.74%

Rei OGAWA

2026-02-10

20.89%→20.88%

Annual report (as of 2026-04-30): 21.05%

FMR LLC

2026-01-09

7.09%→3.97%

Rei OGAWA

2025-12-26

20.99%→20.89%

Annual report (as of 2026-04-30): 21.05%

FMR LLC

2025-12-22

5.88%→7.09%

FMR LLC

2025-11-21

6.92%→5.88%

FMR LLC

2025-11-10

5.71%→6.92%

FMR LLC

2025-10-22

5.82%→5.71%

Leos Capital Works Co., Ltd.

2025-10-22

5.02%→3.03%

Morgan Stanley MUFG Securities Co., Ltd.

2025-10-21

1.29%

FMR LLC

2025-10-07

6.13%→5.82%

Morgan Stanley & Co. LLC

2025-10-06

3.28%

FMR LLC

2025-09-22

8.65%→6.13%

Rei OGAWA

2025-09-12

22.10%→20.99%

Annual report (as of 2026-04-30): 21.05%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-15

Large Shareholding Report

Timee,Inc.

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Timee,Inc.

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