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Overview

Retail Trade

JADE GROUP,Inc.

Jade Group operates fashion and footwear e-commerce platforms in Japan, anchored by LOCONDO.jp — a shoes and fashion online mall offering free same-day shipping, free size exchanges, and free returns. The company runs multiple EC mall properties including MAGASEEK, FASHIONWALKER, dfashion, SPORTS WEB SHOPPERS, and waja, alongside a Platform Business (BOEM/ECS, e-3PL logistics outsourcing) that leases its proprietary IT and fulfillment infrastructure to fashion brands for their own official EC operations. Additionally, the company operates a Brand Business, managing select fashion brands such as Reebok Japan through franchise and direct brand operations.

Market Cap

¥16.7B

US$107M

¥14.8B

US$94.6M

Stock¥1,612▼-1.77%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.6

LTM EV/EBIT

4.8

LTM PER

8.7

LTM PBR

2.0

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-26.1%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

95%

EquityD/E 0.05xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 37.0%

as of 2026-08-31 · Source: Annual Securities Report

Yusuke TANAKA

9.53%

BBH CO FOR ARCUS JAPAN VALUE FUND (Standing Proxy: MUFG Bank, Ltd.)

4.75%

Hiroyuki YOSHIOKA

4.25%

Rakuten Securities, Inc. (Joint Account)

3.76%

Akihiko TOKITSU

3.52%

SBI SECURITIES Co., Ltd.

3.49%

Japan Master Trust Bank, Ltd. (Stock Grant ESOP) (Trust Account) 80414

2.81%

Nomura Securities Co., Ltd.

1.69%

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

1.68%

BNYM SA/NV FOR BNYM FOR BNY GCM CLIENT ACCOUNTS M LSCB RD (Standing Proxy: MUFG Bank, Ltd.)

1.55%

Management

5 officers

Yusuke TANAKA

Representative Director, President

Apr 2003 Joined McKinsey & Company, Inc. Japan Apr 2011 Joined the Company May 2011 Appointed Representative Director of the Company Jun 2022 Representative Director, RBKJ Co., Ltd. (current) Jan 2024 Outside Director, TCB Co., Ltd. (current) Mar 2024 Representative Director, Magaseek Co., Ltd. (current) Dec 2025 Representative Director, Royal Co., Ltd. (current) Dec 2025 Representative Director, Royal Logistics Co., Ltd. (current) Feb 2026 Representative Director, ARIGATO Co., Ltd. (current)

1980-12-05

Shigetoshi TAKASHI

Director

Apr 1997 Joined The Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Mar 2021 Joined Digital Data Solutions Co., Ltd. Apr 2022 Joined the Company Aug 2022 Director, RBKJ Co., Ltd. (current) Apr 2024 Director, Magaseek Co., Ltd. (current) May 2025 Director of the Company (current) Feb 2026 Director, ARIGATO Co., Ltd. (current)

1973-09-01

Tomoya SUZUKI

Director (Audit and Supervisory Committee Member)

Apr 2000 Joined Nippon Telegraph and Telephone East Corporation Jan 2001 Co-founded Ucurate Inc., Director Apr 2004 Joined M-Out Inc. Nov 2007 Joined Nikko Ant Factory Co., Ltd. (now Ant Capital Partners Co., Ltd.); seconded to Lead Capital Management Co., Ltd. Sep 2011 Outside Director of the Company Nov 2012 Transferred to Lead Capital Management Co., Ltd., Partner Dec 2014 Director and Partner, Lead Capital Management Co., Ltd. Nov 2016 Retired as Outside Director of the Company Mar 2018 Director and General Partner, Accord Ventures Co., Ltd. (current) May 2019 Director (Audit and Supervisory Committee Member) of the Company (current) Dec 2021 Outside Director, Solvrain Co., Ltd. (current) Nov 2023 Outside Director, CAMELORS Co., Ltd. (current) Dec 2023 Outside Director, PID Co., Ltd. (current) Sep 2025 Outside Director (Audit and Supervisory Committee Member), Wilplus Holdings Inc. (current)

1977-04-08

Satoshi HIROTA

Director (Audit and Supervisory Committee Member)

Oct 2002 Joined Mitsui Yasuda Law Offices (now Mitsui Law Office) Aug 2008 Joined Haynes and Boone LLP Oct 2009 Joined Ant Capital Partners Co., Ltd. Apr 2014 Joined Beagle Inc. Apr 2015 Opened HCA Law Office, Representative Attorney (current) Sep 2015 Outside Director, Wilplus Holdings Inc. (current) May 2016 Outside Corporate Auditor of the Company May 2016 Outside Corporate Auditor, STYLY Inc. (formerly Psychic VR Lab Inc.) (current) May 2017 Director (Audit and Supervisory Committee Member) of the Company (current) Aug 2018 Outside Corporate Auditor, Casa Inc. (current)

1977-07-08

Atsuko OCHIAI

Director (Audit and Supervisory Committee Member)

Apr 1997 Joined Nomura Research Institute, Ltd.; seconded to and later transferred to Nomura Securities Co., Ltd. Financial Research Center Jul 2004 Joined Goldman Sachs Japan Co., Ltd. Oct 2009 Transferred to Goldman Sachs International plc (UK) Oct 2012 Transferred to Goldman Sachs (Asia) L.L.C. (Hong Kong) Sep 2014 Joined Japan Philanthropy Association (public interest incorporated association) Jul 2019 Became an independent business coach (current) May 2021 Director (Audit and Supervisory Committee Member) of the Company (current) May 2022 Corporate Auditor, Kadira Capital Management Co., Ltd. (current)

1974-11-09

Large Shareholding Reports

Asset Value Investors Limited

2025-01-10

5.79%→4.76%

Asset Value Investors Limited

2024-12-17

7.25%→5.79%

Asset Value Investors Limited

2024-12-05

8.44%→7.25%

Asset Value Investors Limited

2024-11-26

9.58%→8.44%

Asset Value Investors Limited

2024-10-07

10.82%→9.58%

Asset Value Investors Limited

2024-09-04

12.03%→10.82%

Asset Value Investors Limited

2024-05-01

10.72%→12.03%

Asset Value Investors Limited

2024-05-01

9.43%→10.72%

Asset Value Investors Limited

2024-04-25

8.33%→9.43%

Asset Value Investors Limited

2024-01-09

9.33%→8.33%

Asset Value Investors Limited

2023-12-25

10.57%→9.33%

Asset Value Investors Limited

2023-03-28

9.46%→10.57%

Asset Value Investors Limited

2023-03-27

9.46%→10.57%

Asset Value Investors Limited

2022-02-14

8.44%→9.46%

Asset Value Investors Limited

2022-01-21

6.88%→8.44%

Asset Value Investors Limited

2022-01-14

5.30%→6.88%

Asset Value Investors Limited

2022-01-05

5.30%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-15

Semi-Annual Securities Report

Period: Mar 2026 – Feb 2027

JADE GROUP,Inc.

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JADE GROUP,Inc.

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