Overview
Information & Communication

Billing System Corporation

Billing System Co., Ltd. operates a payment support platform that intermediates between corporations and financial institutions, enabling businesses to outsource their collections, payments, and cash flow management via ASP services. Key offerings include Quick Deposit services for online securities and FX firms, multi-channel payment collection agency services (credit card, convenience store, internet banking, ATM), real-time account transfer, remittance support, utility bill payment agency, and card reader solutions for electronic money. The company also provides a Finance Support service that leverages aggregated settlement data to facilitate accounts receivable financing (factoring and asset-backed lending) by partnering financial institutions.

Market Cap
¥7.54B
US$48.1M
EV
¥-31.9B
-US$204M
Stock¥1,210▲+0.00%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
14.6
x
LTM PBR
2.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-13.0%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
7.54BUS$48.1MMarket Cap0.00BUS$0.00M+ Debt39.6BUS$252M− Cash0.05BUS$0.32M− Inv. Sec.0.15BUS$0.95M+ NCI-31.9B-US$204MEV
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Performance & Balance
Revenue 5Y (¥B)
3.14US$20.0M'21/123.43US$21.9M'22/123.78US$24.1M'23/124.22US$26.9M'24/124.55US$29.0M'25/12
EBITDA 5Y (¥B)
0.40US$2.53M'21/120.54US$3.41M'22/120.52US$3.31M'23/120.67US$4.30M'24/120.69US$4.40M'25/12
Net Income 5Y (¥B)
0.22US$1.43M'21/120.32US$2.06M'22/120.30US$1.91M'23/120.41US$2.59M'24/120.41US$2.60M'25/12
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
14.9US$94.9M'21/1213.6US$86.6M'22/1219.6US$125M'23/1223.8US$152M'24/1227.9US$178M'25/12
Shareholders
Top 10 hold 41.2%
1
T-SKY Co., Ltd.
9.61%
2
OKASAN INTERNATIONAL(ASIA)L I M I T E D A / C C L I E N T (Standing Proxy: Okasan Securities Co., Ltd.)
7.13%
3
NTT DATA Japan Corporation
7.06%
4
Tomohiko SUMIHARA
3.75%
5
SBI SECURITIES Co., Ltd.
2.89%
6
Sosanji (Religious Corporation)
2.69%
7
Toshihiko EDA
2.64%
8
Rakuten Securities, Inc.
2.10%
9
Kei SUEFUJI
1.84%
10
Hiroaki FURUKAWA
1.52%
Management
10 officers
Toshihiko EDA
Director, Chairman
Apr 1977 Joined The Mitsui Bank, Limited Jun 2000 Established the Company; Representative Director, President Nov 2015 Representative Director, QCS Co., Ltd. Mar 2017 Representative Director, TransferNet Co., Ltd. Sep 2018 Director, FinGo Co., Ltd. Mar 2020 Representative Director, Chairman, FinGo Co., Ltd. (current) Mar 2025 Director, TransferNet Co., Ltd. Oct 2025 Director, Chairman of the Company (current)
1953-09-15
Akihiro ISHIZUKA
Representative Director, President
Apr 1991 Joined NTT DATA Corporation Apr 2013 General Manager, Planning Department, P&F Business Promotion Division, NTT DATA Corporation Jul 2016 General Manager, Global Payment & Services Business Division, NTT DATA Corporation Jun 2021 Chairman and CEO, NTT DATA Asia Pacific Pte. Ltd. Jun 2022 Director, NTT DATA Management Consulting Institute, Inc. Mar 2025 Director, the Company Jul 2025 Director, FinGo Co., Ltd. (current) Oct 2025 Representative Director, President, the Company (current)
1968-08-17
Toru KOHATA
Director, Head of Sales Division and Head of Operations Division
Oct 2008 Joined the Company Apr 2011 General Manager, Finance Business Division, the Company Nov 2015 General Manager, Operations Division, the Company Nov 2015 Director, QCS Co., Ltd. Sep 2016 General Manager, Sales Division, the Company (current) Mar 2021 Director, the Company (current) Apr 2025 General Manager, Operations Division, the Company (current)
1977-03-16
Tsuyoshi HASEGAWA
Director, Head of Administration Division
Nov 2008 Joined the Company Apr 2011 General Manager, Administration Department, the Company May 2016 Executive Officer, General Manager, Business Management Department, CAVE Co., Ltd. Oct 2019 General Manager, Administration Division, the Company (current) Oct 2019 Director, TransferNet Co., Ltd. (current) Mar 2023 Director, the Company (current) Mar 2025 Representative Director, Kyuyo Shoyo Co., Ltd. (current)
1970-10-15
Tomohiko SUMIHARA
Non-Executive Director
Apr 1980 Joined The Mitsui Bank, Limited Aug 2000 Joined the Company Jan 2001 Director, the Company (current) Mar 2005 Audit & Supervisory Board Member, TransferNet Co., Ltd. Jan 2007 Representative Director, Kyuyo Shoyo Co., Ltd. Oct 2019 Director, FinGo Co., Ltd.
1957-11-26
Kazushi ABIKO
Non-Executive Director
Apr 1987 Joined Nippon Telegraph and Telephone Corporation Jul 2003 General Manager, Public Systems Business Division, NTT Jun 2007 General Manager, Fourth Public Systems Business Division, NTT Jul 2010 Seconded to NTT DATA Frontier Corporation; Planning Manager, Corporate Planning Division Apr 2017 Joined NTT DATA Frontier Corporation; Planning Manager, Corporate Planning Division Jun 2017 Director, Executive Officer, General Manager, Corporate Planning Division, NTT DATA Frontier Corporation Mar 2019 Director, the Company (current) Jul 2024 Director, Executive Officer, General Manager, Human Resources and General Affairs Division, NTT DATA Frontier Corporation (current)
1963-12-06
Shigeo KIZAKI
Non-Executive Director
Apr 1986 Joined Nippon Steel Corporation Nov 1996 Joined Gemini Consulting Japan Jan 2003 Joined Booz Allen Hamilton K.K. Apr 2010 Joined IBM Japan, Ltd. Apr 2013 Representative Director, President, Brain and Capital Co., Ltd. Apr 2015 Representative Director, President, Orion Electric Co., Ltd. Nov 2017 Joined Future Corporation Mar 2019 Representative Director, Kizaki Enterprise Co., Ltd. (current) Mar 2019 Director, the Company (current) Jun 2025 Outside Director, DTS Corporation (current)
1963-06-28
Mikiji OBAYASHI
Full-time Audit & Supervisory Board Member
Apr 1980 Joined The Mitsui Bank, Limited Jun 2005 Joined Sumitomo Mitsui Bank Auto Lease Co., Ltd. Jul 2005 General Manager, Tokyo Sales Department, Sumitomo Mitsui Bank Auto Lease Co., Ltd. Jun 2010 Executive Officer; Deputy Head of Metropolitan Area Sales Division and General Manager, Tokyo Sales Department No. 7, Sumitomo Mitsui Bank Auto Lease Co., Ltd. Apr 2015 Managing Executive Officer; Head of Kinki Area Sales Division, Sumitomo Mitsui Bank Auto Lease Co., Ltd. Apr 2018 Advisor; Head of Kinki Area Sales Division, Sumitomo Mitsui Bank Auto Lease Co., Ltd. Mar 2019 Full-time Audit & Supervisory Board Member, the Company (current)
1956-05-31
Keisuke YAMADA
Non-Executive Audit & Supervisory Board Member
Apr 1985 Joined Deloitte Haskins & Sells certified public accountant joint office Mar 1988 Registered as Certified Public Accountant Sep 1989 Registered as Certified Tax Accountant Jan 2010 Established Keisuke Yamada Certified Public Accountant & Tax Accountant Office (current) Jan 2010 Joined Yamada Sanshoku Co., Ltd. (current) Mar 2011 Audit & Supervisory Board Member, the Company (current) Jun 2014 Outside Director, Yuki Gosei Kogyo Co., Ltd. Jun 2016 Outside Director (Audit and Supervisory Committee Member), Yuki Gosei Kogyo Co., Ltd. (current)
1958-05-19
Koichi NAKATANI
Non-Executive Audit & Supervisory Board Member
Apr 1997 Registered as attorney-at-law (Daini Tokyo Bar Association) Apr 1997 Joined IBM Japan, Ltd., Legal Affairs Department (in-house attorney) Apr 2004 Joined Momo-o, Matsuo & Namba Law Offices Sep 2006 Master of Laws (IP Master Course), University of Washington School of Law Sep 2007 Visiting Attorney, Studio Legale Jacobacci & Associati, Turin, Italian Republic (IP law firm) Sep 2008 Returned to Momo-o, Matsuo & Namba Law Offices Jan 2010 Partner, Momo-o, Matsuo & Namba Law Offices Mar 2015 Audit & Supervisory Board Member, the Company (current) Jan 2026 Joined Mori & Partners Law Firm; Partner (current)
1969-11-17
Large Shareholding Reports
Old Peak Group Ltd.
2026-03-03
5.06%→4.06%
Old Peak Group Ltd.
2026-01-27
6.07%→5.06%
Old Peak Group Ltd.
2025-12-01
7.11%→6.07%
Old Peak Group Ltd.
2025-10-06
8.11%→7.11%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-13
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-13
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-23
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-03
Large Shareholding Report
EDINET
2026-01-27
Large Shareholding Report
EDINET
2025-12-01
Large Shareholding Report
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-08-14
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-25
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-26
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-23
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-24
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-03-25
Annual Securities Report
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