Overview
Information & Communication

CUBE SYSTEM INC.

Cube System provides IT system solutions and services to corporate clients, encompassing System Integration (SI), System Outsourcing, and Professional Services. The company operates three business models: Digital Business (DX consulting, proprietary products, and IP-based solutions), SI Business (end-to-end system planning, design, development, and cloud migration via a Lift & Shift model), and Enhance Business (ongoing system performance improvement and value enhancement). Key client relationships include Nomura Research Institute, Fujitsu, and AEON, with a strategic capital and business alliance with NRI established in 2022.

Market Cap
¥15.9B
US$101M
EV
¥7.51B
US$47.9M
Stock¥1,047▼-0.38%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
4.4
x
LTM EV/EBIT
5.0
x
LTM PER
10.0
x
LTM PBR
1.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-30.7%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
15.9BUS$101MMarket Cap0.23BUS$1.47M+ Debt7.18BUS$45.8M− Cash1.44BUS$9.15M− Inv. Sec.7.51BUS$47.9MEV
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Performance & Balance
Revenue 5Y (¥B)
16.1US$103M'22/316.3US$104M'23/318.0US$115M'24/318.4US$117M'25/318.5US$118M'26/3
EBITDA 5Y (¥B)
1.48US$9.42M'22/31.50US$9.59M'23/31.58US$10.1M'24/31.44US$9.16M'25/31.71US$10.9M'26/3
Net Income 5Y (¥B)
0.94US$6.02M'22/30.99US$6.31M'23/31.07US$6.80M'24/31.26US$8.04M'25/31.56US$9.97M'26/3
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
6.34US$40.4M0.24US$1.53M'22/38.38US$53.5M0.24US$1.53M'23/38.90US$56.8M0.23US$1.47M'24/38.40US$53.6M0.23US$1.47M'25/38.34US$53.2M0.23US$1.47M'26/3
Shareholders
Top 10 hold 52.5%
1
Nomura Research Institute,Ltd.
20.21%
2
CUBE SYSTEM INC. Employee Stock Ownership Association
9.50%
3
The Master Trust Bank of Japan, Ltd. (Trust Account)
6.84%
4
Tomiko SAKIYAMA
3.77%
5
Japan Master Trust Bank, Ltd. (Officer Compensation BIP Trust Account No. 75824)
2.56%
6
Akemi KONUKI
2.55%
7
Mika SAKIYAMA
2.46%
8
Machiko TANABE
1.95%
9
Custody Bank of Japan, Ltd. (Trust Account)
1.36%
10
Toshio UCHIDA
1.26%
Management
11 officers
Masahiro NAKANISHI
Representative Director, President and Executive Officer
Apr 1982 Joined Nomura Computer Systems Co., Ltd. (now Nomura Research Institute, Ltd.) Apr 2002 General Manager, Business Planning Office, Distribution & Social Solutions Division, Nomura Research Institute, Ltd. Apr 2008 General Manager, Business Management Office, Service & Industry Systems Business Division, Nomura Research Institute, Ltd. Oct 2009 Deputy General Manager, Chubu Branch, Nomura Research Institute, Ltd. Apr 2017 Executive Officer of the Company Jun 2020 Managing Executive Officer of the Company President and Executive Officer and Chief Digital Officer (CDO) of the Company Representative Director, President and Executive Officer of the Company (current)
1958-11-06
Masaki TOCHIZAWA
Director
Apr 1975 Joined Nomura Computer Systems Co., Ltd. (now Nomura Research Institute, Ltd.) Jun 1996 General Manager, Products Business Division, Nomura Computer Systems Co., Ltd. Apr 2002 Executive Officer, Head of Products & Solutions Business Division and Head of AGS Project Office, Nomura Research Institute, Ltd. Apr 2006 Executive Officer, Head of Kansai Branch, Nomura Research Institute, Ltd. Apr 2008 Executive Officer of the Company Jun 2008 Director of the Company Jun 2015 Managing Director of the Company Senior Managing Executive Officer of the Company Apr 2020 Director of the Company (current)
1953-01-14
Minoru KOTAKA
Director, Managing Executive Officer
Oct 1999 Joined the Company Oct 2007 Executive Officer of the Company Apr 2018 Senior Executive Officer of the Company Apr 2020 Managing Executive Officer of the Company Jun 2025 Director, Managing Executive Officer of the Company (current) May 2026 Outside Director, System Create Co., Ltd. (current)
1967-03-20
Toshio UCHIDA
Full-time Audit & Supervisory Board Member
Apr 1975 Joined the Company (formerly Customer Engineers Co., Ltd.) Apr 1987 General Manager, Systems Development Department of the Company Jun 1988 Director of the Company Jun 1995 Managing Director of the Company May 1997 Director, Hokkaido Cube System Co., Ltd. Jun 2002 Senior Managing Director of the Company Apr 2014 General Manager, Corporate Services Division of the Company Jun 2015 Director, Vice President of the Company Jun 2023 Audit & Supervisory Board Member of the Company (current)
1953-11-24
Takao SHINO
Director
Apr 1979 Joined Nomura Research Institute, Ltd. Jun 2000 Director, Nomura Research Institute, Ltd. Head of Research & Consulting Business Division and General Manager, Information & Communications Consulting Department (contract), Nomura Research Institute, Ltd. Apr 2002 Director and Managing Executive Officer, Head of Distribution & Social Solutions Division, Nomura Research Institute, Ltd. Apr 2007 Executive Director, Nomura Research Institute, Ltd. May 2007 Managing Director, Japan Information Technology Services Industry Association Apr 2009 Director, Japan Data Center Council Jul 2010 Chair, Japan Liaison Committee, The Green Grid Apr 2012 President, Nomura Management School (public interest foundation) Jun 2012 Executive Director, Nomura Management School Jun 2015 Director of the Company (current)
1954-09-17
Hanae NAGATA
Director
Apr 2012 Obtained medical license Apr 2012 Joined Musashino Red Cross Hospital May 2016 Occupational Physician, Yahoo Japan Corporation (now Z Holdings Corporation) Jun 2020 Representative Director, PhileLife Inc. (current) Director of the Company (current)
1986-12-05
Takefumi SAITO
Director
Apr 1995 Joined Tohmatsu Audit Corporation (now Deloitte Touche Tohmatsu LLC) Jul 1999 Registered as Certified Public Accountant (No. 15348) Apr 2001 Seconded to Fuji Bank, Ltd. (now Mizuho Bank, Ltd.) Jul 2012 Partner, Deloitte Touche Tohmatsu LLC Sep 2021 Representative Director, SET THE DIRECTION Co., Ltd. (current) Nov 2021 Head, Takefumi Saito CPA Office (current) May 2024 Director of the Company (current) Outside Director, Yakuodo Holdings Co., Ltd. (current) Apr 2025 Outside Director, ADASTRIA Co., Ltd.
1971-12-03
Toshinori KOBAYASHI
Director
Apr 1982 Joined Fujitsu Limited Apr 2015 Executive Officer, Head of Outsourcing Business Unit and in charge of Infrastructure Services Business Unit, Fujitsu Limited Apr 2016 Executive Officer, Head of Outsourcing Business Unit and Digital Business Platform Business Unit, Fujitsu Limited Apr 2018 Director, Deputy Group Head, Public Services Business Group, Fujitsu Limited Apr 2020 President and Representative Director, FUJITSU FSAS INC. (now FSAS Technologies Inc.) Jun 2024 Director, F-COM Corporation Jun 2026 Scheduled to assume office as Director of the Company
1959-04-18
Tatsuo NONAKA
Full-time Audit & Supervisory Board Member
Apr 1982 Joined Mitsubishi Corporation Mar 1996 Seconded to Mitsubishi Motors Credit of America, Inc. as Director, Treasurer Feb 2009 Deputy General Manager, Leasing Business Unit, Mitsubishi Corporation May 2010 Seconded to Mitsubishi Auto Leasing Corporation as Managing Executive Officer and General Manager, Finance Department Oct 2018 Retired from Mitsubishi Corporation; transferred to Mitsubishi Auto Leasing Corporation Apr 2021 Managing Executive Officer, Mitsubishi Auto Leasing Corporation Jun 2021 Audit & Supervisory Board Member of the Company (current)
1958-10-25
Yukako MIITADA
Audit & Supervisory Board Member
Apr 2000 Joined Sumitomo Marine & Fire Insurance Co., Ltd. (now Mitsui Sumitomo Insurance Co., Ltd.) Oct 2001 Joined Shin-Tokyo Law Office Nov 2005 Joined Chuo Aoyama Tax Corporation (now PwC Tax Japan) Nov 2008 Joined Arata Audit Corporation (now PwC Arata LLC) Aug 2011 Registered as Certified Public Accountant Nov 2022 Head, Miitada CPA Office (current) Jun 2023 Audit & Supervisory Board Member of the Company (current) Jan 2025 Director, General Incorporated Association Zen (current)
1977-12-21
Misato FUKUSHIMA
Audit & Supervisory Board Member
Dec 2009 Registered as attorney-at-law Jan 2010 Joined Nishimura & Partners (Gaikokuho Kyodo Jigyo); Counsel (current) Sep 2016 Seconded to JX Nippon Oil & Energy Asia Pte. Ltd. Aug 2021 Returned to Nishimura & Partners Jun 2024 Seconded to JERA Co., Inc. Audit & Supervisory Board Member of the Company (current)
1983-12-21
Large Shareholding Reports
Tomiko SAKIYAMA
2026-04-02
3.77%
Annual report (as of 2026-03-31): 3.77%
Tomiko SAKIYAMA
2026-03-26
0.76%→3.77%
Annual report (as of 2026-03-31): 3.77%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-05
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-18
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-04-02
Change Report
EDINET
2026-03-26
Large Shareholding Report
TDnet
2026-02-04
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-06
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-05
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
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
2023-11-08
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-23
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-04-26
Amended Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-08
Securities Registration Statement
EDINET
2022-11-09
Quarterly Securities Report
EDINET
2022-08-09
Quarterly Securities Report
EDINET
2022-06-24
Annual Securities Report
EDINETAmended
2022-05-10
Amended Quarterly Securities Report
EDINETAmended
2022-05-10
Amended Quarterly Securities Report
EDINETAmended
2022-05-10
Amended Quarterly Securities Report
EDINET
2022-02-08
Quarterly Securities Report
EDINET
2021-11-10
Quarterly Securities Report
EDINET
2021-08-11
Quarterly Securities Report
EDINETAmended
2021-08-11
Amended Securities Registration Statement
EDINET
2021-08-04
Securities Registration Statement
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