Overview
Services

SMS CO.,LTD.

SMS Co., Ltd. operates an information infrastructure platform for Japan's aging society, providing services across four segments: career services for medical and nursing care professionals (staffing/recruitment for nurses, care workers, and allied health professionals), a management support platform for nursing care and disability welfare operators (Kaipoke), overseas medical information and career services (MIMS Group across APAC, global nursing staffing), and a business development segment covering remote health guidance, industrial health, senior living referrals, and funeral arrangement services. The company connects care professionals, operators, and end-users through integrated digital platforms targeting the healthcare and senior care market. Its competitive strength lies in its comprehensive ecosystem spanning recruitment, operational software, and healthcare services across the aging society value chain.

Market Cap
¥213B
US$1.36B
EV
¥201B
US$1.28B
Stock¥2,591▼-1.18%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
18.0
x
LTM EV/EBIT
26.9
x
LTM PER
NM
LTM PBR
7.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+41.1%pt
10012345
Oct 23, 25 – Oct 23, 26StockTOPIX
1Oct 29, 25Poor Q2 earnings performance
2Jan 21, 26Oasis Management Company Ltd. filed large shareholding report
3Feb 2, 26Oasis Management Company Ltd. changed stake (7.76%→11.46%)
4Feb 4, 26Rise from strong Q3 earnings
5Feb 10, 26Oasis Management Company Ltd. changed stake (11.46%→17.58%)
MC → EV Bridge
213BUS$1.36BMarket Cap5.65BUS$36.0M+ Debt15.3BUS$97.9M− Cash1.95BUS$12.4M− Inv. Sec.201BUS$1.28BEV
AI Briefing
SMS runs Japan's senior-care info infrastructure: staffing, Kaipoke operator software, APAC MIMS, and ancillary health services. FY26/3 revenue ¥64.7B, OP ¥6.8B (10.5% margin), rebounding modestly after FY25/3 margin dip from 15.3% to 10.4%. Margin compression since FY24/3 despite steady top-line growth suggests investment phase; no tender offer in data, so market read centers on standalone fundamentals.
Performance & Balance
Revenue 5Y (¥B)
38.9US$248M'22/345.7US$291M'23/354.0US$344M'24/361.0US$389M'25/364.7US$413M'26/3
EBITDA 5Y (¥B)
7.97US$50.8M'22/39.26US$59.0M'23/310.7US$68.1M'24/39.10US$58.0M'25/310.4US$66.5M'26/3
Net Income 5Y (¥B)
5.41US$34.5M'22/36.41US$40.9M'23/37.23US$46.1M'24/36.05US$38.6M'25/3-14.3-US$91.3M'26/3
Capital Structure
83%
EquityD/E 0.20xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
17.5US$111M10.4US$66.1M'22/319.6US$125M8.33US$53.1M'23/320.9US$133M6.43US$41.0M'24/319.1US$121M8.05US$51.4M'25/316.6US$106M7.23US$46.1M'26/3
Shareholders
Top 10 hold 54.4%
1
MORO LLC
18.72%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
11.19%
3
MISAKI ENGAGEMENT MASTER FUND (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.44%
4
GOLDMAN,SACHS & CO.REG (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
3.39%
5
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB; Standing Proxy: Nomura Securities Co., Ltd.)
3.36%
6
Custody Bank of Japan, Ltd. (Trust Account)
2.93%
7
AS ONE CORPORATION
2.92%
8
GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)
2.90%
9
CGML PB CLIENT ACCOUNT/COLLATERAL (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.79%
10
UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.72%
Management
6 officers
Masaki TAKAHATA
Representative Director, President; Head of Corporate Management Division; Member of Nomination and Compensation Advisory Committee
Apr 2007 Joined Azsa LLC Jul 2011 Joined Frontier Management Inc. Sep 2013 Joined the Company May 2016 Assumed office as CFO of the Company's MIMS Group Mar 2021 Assumed office as CEO of the Company's MIMS Group Jun 2025 Assumed office as Director of the Company Jan 2026 Assumed office as Representative Director, President of the Company (current) Assumed office as Head of Corporate Management Division of the Company (current) Assumed office as Member of Nomination and Compensation Advisory Committee of the Company (current) Director of M3 Career, Inc. (current)
1984-04-14
Makoto YASUDA
Director (Note 4)
Apr 1998 Joined SoftBank Corp. (now SoftBank Group Corp.) Nov 2003 Joined Freebit Co., Ltd. Oct 2004 Joined Brainpad Inc. Sep 2011 Director of Brainpad Inc. Apr 2017 Representative Director of Mynd Inc. (now Brainpad Inc.) Aug 2021 Representative Director of Seedim Inc. (current) Jul 2022 Joined Neely Inc. (current) Jun 2026 Assumed office as Outside Director of the Company (current)
1974-08-29
Takeshi KAWASAKI
Director (Note 4)
Apr 2002 Joined Citibank, N.A., Japan Branch (now Citibank, N.A., Tokyo Branch) Mar 2005 Joined Nikko Cordial Securities Inc. (now SMBC Nikko Securities Inc.) Feb 2014 Joined Regional Economy Vitalization Corporation of Japan Aug 2020 Joined Lifenet Insurance Company Jun 2022 Executive Officer of Lifenet Insurance Company Jun 2024 Senior Executive Officer of Lifenet Insurance Company Jun 2025 Director and Vice President, CFO of Lifenet Insurance Company (current) Jun 2026 Assumed office as Outside Director of the Company (current)
1979-04-16
Nobuko TAKAGI
Director (Audit and Supervisory Committee Member) (Note 4); Lead Independent Outside Director; Chair of Audit and Supervisory Committee; Chair of Nomination and Compensation Advisory Committee
Oct 2002 Joined Tohmatsu LLC May 2006 Registered as Certified Public Accountant Aug 2006 Joined Tohmatsu Tax Corporation (now Deloitte Tohmatsu Tax Co.) Nov 2007 Joined GCA Corporation (now Houlihan Lokey K.K.) Mar 2011 Joined NEC Corporation Jul 2017 Representative, Nobuko Takagi CPA Office (current) Outside Audit & Supervisory Board Member of I-ne Co., Ltd. Apr 2018 Representative Director of COEING AND COMPANY Inc. (current) Jun 2018 Outside Director of USS Co., Ltd. Jun 2022 Assumed office as Outside Director (Audit and Supervisory Committee Member) of the Company Assumed office as Member of Nomination and Compensation Advisory Committee of the Company Apr 2024 Outside Audit & Supervisory Board Member of Kose Corporation (now KOSE Holdings Corporation) (current) Jun 2026 Assumed office as Lead Independent Outside Director of the Company (current) Assumed office as Chair of Audit and Supervisory Committee of the Company (current) Assumed office as Chair of Nomination and Compensation Advisory Committee of the Company (current)
1977-10-22
Tetsuro HARADA
Director (Audit and Supervisory Committee Member) (Note 4); Member of Nomination and Compensation Advisory Committee
Apr 1981 Joined Japan Maritime Self-Defense Force Apr 1990 Joined Nippon Life Insurance Company Jun 1996 Master of Business Administration, Haas School of Business, University of California, Berkeley Oct 2000 Joined Dream Incubator Inc. Jun 2006 Executive Officer of Dream Incubator Inc. Jun 2018 Director of Dream Incubator Inc. Jun 2020 Representative Director, CEO of Dream Incubator Inc. Jun 2023 Director, Chairperson of the Board of Dream Incubator Inc. Jun 2024 Director (Audit and Supervisory Committee Member), Chairperson of the Board of Dream Incubator Inc. (scheduled to retire Jun 2026) Outside Director of MANDOM Corporation Outside Director of Wacoal Holdings Corp. (current) Jun 2026 Assumed office as Outside Director (Audit and Supervisory Committee Member) of the Company (current) Assumed office as Member of Nomination and Compensation Advisory Committee of the Company (current)
1965-09-22
Aiko OTA
Director (Audit and Supervisory Committee Member) (Note 4)
Jan 2015 Registered as attorney-at-law (Daini Tokyo Bar Association) Joined Freshfields Bruckhaus Deringer Law Office (now Freshfields Law Office) Nov 2017 Joined Nozomi Sogo Law Office May 2020 Seconded to Rajah & Tann Singapore LLP Jun 2020 Completed LL.M. at National University of Singapore Mar 2022 Returned to Nozomi Sogo Law Office Sep 2025 Partner, Nozomi Sogo Law Office (current) Jun 2026 Assumed office as Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1988-12-28
Large Shareholding Reports
Nomura Securities Co., Ltd.
2026-10-21
1.26%→3.54%
Nomura Asset Management Co., Ltd.
2026-09-24
2.79%→2.81%
Oasis Management Company Ltd.
2026-09-16
25.93%→26.97%
Oasis Management Company Ltd.
2026-09-10
24.65%→25.93%
Oasis Management Company Ltd.
2026-09-04
22.38%→24.65%
Oasis Management Company Ltd.
2026-09-01
21.34%→22.38%
Oasis Management Company Ltd.
2026-08-20
20.31%→21.34%
Oasis Management Company Ltd.
2026-08-06
19.31%→20.31%
Oasis Management Company Ltd.
2026-07-23
18.30%→19.31%
Nomura Securities Co., Ltd.
2026-07-22
1.99%→2.85%
Nomura Asset Management Co., Ltd.
2026-06-04
2.80%
MORO G.K.
2026-05-13
17.56%→17.56%
Oasis Management Company Ltd.
2026-05-13
17.58%→18.30%
Lazard Asset Management LLC
2026-04-20
5.02%→3.71%
Nomura Asset Management Co., Ltd.
2026-04-06
2.82%→2.54%
Nomura Asset Management Co., Ltd.
2026-03-05
2.82%
Nomura Asset Management Co., Ltd.
2026-02-19
2.83%→2.81%
Oasis Management Company Ltd.
2026-02-10
11.46%→17.58%
Oasis Management Company Ltd.
2026-02-02
7.76%→11.46%
Oasis Management Company Ltd.
2026-01-21
7.76%
Nomura Asset Management Co., Ltd.
2026-01-09
2.83%
Wasatch Advisors, LP
2025-11-20
5.08%→4.01%
MORO LLC
2025-11-10
17.56%→17.56%
Annual report (as of 2026-03-31): 18.72%
REAPRA PTE. LTD.
2025-11-10
—
Nomura Asset Management Co., Ltd.
2025-10-21
5.13%→4.08%
Wasatch Advisors, LP
2025-10-21
6.20%→5.08%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-09-24
Large Shareholding Report
EDINET
2026-09-16
Large Shareholding Report
EDINET
2026-09-10
Large Shareholding Report
EDINET
2026-09-04
Large Shareholding Report
EDINET
2026-09-01
Large Shareholding Report
EDINET
2026-08-20
Large Shareholding Report
EDINET
2026-08-06
Large Shareholding Report
TDnet
2026-07-29
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-23
Large Shareholding Report
EDINET
2026-07-22
Large Shareholding Report
EDINET
2026-06-19
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-04
Large Shareholding Report
TDnet
2026-05-28
株主総会招集通知
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-04-20
Large Shareholding Report
EDINET
2026-04-06
Large Shareholding Report
EDINET
2026-03-05
Large Shareholding Report
EDINET
2026-02-19
Large Shareholding Report
EDINET
2026-02-10
Large Shareholding Report
EDINET
2026-02-02
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-21
Large Shareholding Report
EDINET
2026-01-09
Large Shareholding Report
EDINET
2025-11-20
Large Shareholding Report
EDINET
2025-11-11
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2025-11-10
Change Report
EDINET
2025-11-10
Large Shareholding Report
EDINET
2025-10-21
Large Shareholding Report
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