Overview
Information & Communication

AXEL MARK INC.

Accelmark operates three business segments: an advertising business providing internet advertising network services and system development outsourcing; a trading card business operating the physical specialty store 'cardéria Ikebukuro' and the online EC service 'Airisu Treca' for trading card sales and purchases; and an other business segment offering IoT healthcare solutions and beauty & wellness products. The company targets internet advertisers, trading card enthusiasts, and healthcare/wellness consumers in Japan. Its competitive strengths lie in its diversified digital and consumer business portfolio underpinned by accumulated internet service development expertise.

Market Cap
¥2.55B
US$16.2M
EV
¥2.37B
US$15.1M
Stock¥39▼-43.48%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
7.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-85.8%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 16, 26Bottom fishing on earnings recovery hopes
2Oct 23, 26Parent Convano ends loan facility; AXEL MARK warns of uncollectible receivables
MC → EV Bridge
2.55BUS$16.2MMarket Cap0.00BUS$0.00M+ Debt0.15BUS$0.95M− Cash0.03BUS$0.16M− Inv. Sec.2.37BUS$15.1MEV
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Performance & Balance
Revenue 5Y (¥B)
2.66US$16.9M'21/92.67US$17.0M'22/92.14US$13.7M'23/91.58US$10.1M'24/90.97US$6.21M'25/9
EBITDA 5Y (¥B)
0.01US$0.04M'21/90.02US$0.11M'22/9-0.09-US$0.58M'23/9-0.29-US$1.84M'24/9-0.52-US$3.30M'25/9
Net Income 5Y (¥B)
0.07US$0.47M'21/9-0.10-US$0.64M'22/9-0.10-US$0.65M'23/9-0.39-US$2.47M'24/9-0.76-US$4.87M'25/9
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.34US$8.54M'21/91.40US$8.92M'22/91.06US$6.75M'23/90.55US$3.50M'24/91.00US$6.40M0.38US$2.40M'25/9
Shareholders
Top 10 hold 23.1%
1
Goshi NIINUMA
7.38%
2
Rakuten Securities, Inc. (Joint Account)
5.19%
3
SBI SECURITIES Co., Ltd.
2.60%
4
Okasan Securities Co., Ltd.
1.34%
5
Midori GOTO
1.23%
6
Hiroshi MIZUKAMI
1.22%
7
Norimitsu KUROKI
1.18%
8
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.05%
9
GMO CLICK Securities, Inc.
1.01%
10
Shota SAKURAI
0.94%
Management
5 officers
Hiroshi MATSUKAWA
Representative Director, President
Apr 1997 Joined Namco Ltd. (currently Bandai Namco Entertainment Inc.) Mar 2001 Joined Kyocera Communication Systems Co., Ltd. Jun 2004 Joined Omron Entertainment Co., Ltd. (currently Furyu Corporation) Aug 2019 Joined Sega Games Co., Ltd. (currently Sega Corporation) Mar 2020 Joined the Company Dec 2020 Executive Officer, COO of the Company Representative Director and Executive Officer, COO of the Company Mar 2021 Representative Director, President of the Company (current)
1974-12-08
Yoshihiro MURAKAMI
Director
Apr 1993 Joined Nippon Godo Finance Co., Ltd. (currently Jafco Group Co., Ltd.) Mar 2000 Investment Team Manager, ICP Investment Co., Ltd. Jun 2000 Representative Director, President, Bridal Net Co., Ltd. (currently IBJ, Inc.) Apr 2008 Investment Manager, Red Horse Corporation Jun 2009 Senior Managing Director, COO, RH Insigno Co., Ltd. Nov 2010 Managing Executive Officer, Keiei Senryaku Godo Jimusho Co., Ltd. (currently KSG Co., Ltd.) Jan 2014 Vice President Executive Officer, Three Arrows Co., Ltd. Apr 2015 Executive Officer, Chief Financial Officer (CFO), ALBERT Co., Ltd. Sep 2021 Head of Management Division, Hyas & Company Co., Ltd. Apr 2023 Executive Officer of the Company Aug 2023 Executive Officer, Head of Administration Division of the Company Dec 2023 Director, Head of Administration Division of the Company (current) Jan 2024 Outside Director, Shannon Co., Ltd. Apr 2024 Outside Director, Croto Business Succession Co., Ltd. (current) Jul 2025 Director, Wellness More Laboratories Co., Ltd. (current) Important Concurrent Positions: Outside Director, Croto Business Succession Co., Ltd.; Director, Wellness More Laboratories Co., Ltd.
1968-07-04
Naoki KAKIHANA
Full-time Director, Audit and Supervisory Committee Member
Apr 1977 Joined Sanwa Bank, Ltd. (currently MUFG Bank, Ltd.) Apr 1999 General Manager, Accounting Department, Daikyo Inc. (seconded) Apr 2004 General Manager, Corporate Finance Department, UFJ Bank Ltd. (currently MUFG Bank, Ltd.) Oct 2005 Executive Officer, MUFG Capital Co., Ltd. Jun 2008 Representative Director, Managing Director, MUFG Capital Co., Ltd. Oct 2011 Auditor, Japan Water Agency Mar 2016 Outside Audit & Supervisory Board Member, Infomart Corporation Apr 2024 Partner, Infomart Corporation (current) Dec 2024 Director, Audit and Supervisory Committee Member of the Company (current)
1952-05-09
Shigeru IKOMA
Director, Audit and Supervisory Committee Member
Apr 1977 Joined Sumitomo Bank, Ltd. (currently Sumitomo Mitsui Banking Corporation) Oct 1997 Kagoshima Branch Manager, Sumitomo Bank, Ltd. Apr 1999 Senior Investigator, Sumitomo Bank, Ltd.; concurrently General Manager, Planning Department, Japan Research Institute, Ltd. Jun 2003 General Manager, Kojimachi Corporate Sales Department, Sumitomo Bank, Ltd. Jun 2005 Advisor, Seibu Railway Co., Ltd. Dec 2005 Director, General Manager, Leisure Division, Seibu Railway Co., Ltd.; concurrently Advisor, Prince Hotels, Inc. Jun 2008 Director, Managing Executive Officer, Seibu Railway Co., Ltd. Jun 2016 Full-time Audit & Supervisory Board Member, Seibu Railway Co., Ltd. Mar 2017 Auditor, Yokohama Arena Co., Ltd. Jun 2019 Auditor, Cross Compass Co., Ltd. Jun 2019 Advisor and Head of Internal Audit Office, Sogo Shoken Co., Ltd. (current) May 2022 Director, Audit and Supervisory Committee Member, Hyas & Company Co., Ltd. Dec 2024 Director, Audit and Supervisory Committee Member of the Company (current)
1953-11-05
Noriyuki TANAKA
Director, Audit and Supervisory Committee Member
Oct 2005 Registered as attorney (Daiichi Tokyo Bar Association); joined Sotachi Sogo Law Office Oct 2010 Joined Minato International Tokyo Law Office (currently Minato International Law Office, Attorney Corporation) Dec 2010 Head of Tokyo Office, Minato International Group (currently Tokyo Office, Minato International Law Office, Attorney Corporation) (current) Jul 2014 Outside Audit & Supervisory Board Member, PR TIMES, Inc. (current) May 2017 Outside Auditor, NewsTV Co., Ltd. Jun 2017 Outside Auditor, GFA Co., Ltd. Sep 2017 Outside Auditor, GFA Capital Co., Ltd. Jun 2019 Councilor, Japan Society of Pharmaceutical Medicine (general incorporated foundation) (current) Jul 2022 Outside Auditor, TRIAD Inc. (current) Dec 2024 Director, Audit and Supervisory Committee Member of the Company (current) Jan 2025 Representative Member, SAIL Attorney Corporation (current) Mar 2025 Outside Director, Pixel Companies Co., Ltd. Oct 2025 Outside Director, Audit and Supervisory Committee Member, Pixel Companies Co., Ltd. (current) Important Concurrent Positions: Representative Member, SAIL Attorney Corporation
1977-08-29
Large Shareholding Reports
Convano Co., Ltd.
2026-07-07
68.90%
Convano Co., Ltd.
2026-07-02
68.90%
Goshi NIINUMA
2026-06-10
12.59%→3.94%
Annual report (as of 2026-03-31): 7.38%
Goshi NIINUMA
2026-06-08
12.59%→3.94%
Annual report (as of 2026-03-31): 7.38%
Cantor Fitzgerald Europe
2026-04-15
40.64%→0.00%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Cantor Fitzgerald Europe
2026-04-14
40.64%→0.00%
Cantor Fitzgerald Europe
2026-03-24
41.76%→40.64%
TrustUp Co., Ltd.
2026-01-21
12.00%→0.00%
Correction filing (name/detail fix only) — ratio carried over from the original filing
TrustUp Co., Ltd.
2026-01-20
12.00%→0.00%
With Partners Co., Ltd.
2025-12-22
18.14%→1.55%
Cantor Fitzgerald Europe
2025-12-05
42.87%→41.76%
Cantor Fitzgerald Europe
2025-11-27
42.87%
With Partners Co., Ltd.
2025-11-10
23.09%→18.14%
NOMURA INTERNATIONAL PLC
2025-09-19
5.20%→1.68%
NOMURA INTERNATIONAL PLC
2025-09-04
5.20%
With Partners Co., Ltd.
2025-09-01
29.73%→23.09%
Morgan Stanley MUFG Securities Co., Ltd.
2025-08-06
5.21%→1.33%
Disclosures
Executive Change
2026-09-17
Primary Source Filings
TDnet
2026-09-17
Executive Change
TDnet
2026-08-14
Q3 Earnings Flash
FY ending Sep 2026
EDINETAmended
2026-07-07
Change Report
EDINET
2026-07-02
Large Shareholding Report
EDINET
2026-06-10
Large Shareholding Report
EDINET
2026-06-08
Large Shareholding Report
EDINET
2026-05-29
Securities Registration Statement
EDINET
2026-05-14
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINETAmended
2026-04-15
Change Report
EDINET
2026-04-14
Large Shareholding Report
EDINET
2026-03-24
Large Shareholding Report
TDnet
2026-02-12
Q1 Earnings Flash
FY ending Sep 2026
EDINETAmended
2026-01-21
Change Report
EDINET
2026-01-20
Large Shareholding Report
EDINET
2025-12-23
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-12-22
Large Shareholding Report
EDINET
2025-12-05
Large Shareholding Report
EDINET
2025-11-27
Large Shareholding Report
EDINETAmended
2025-11-13
Amended Securities Registration Statement
EDINET
2025-11-10
Large Shareholding Report
EDINET
2025-10-30
Securities Registration Statement
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-04
Large Shareholding Report
EDINET
2025-09-01
Large Shareholding Report
TDnet
2025-08-14
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-08-06
Large Shareholding Report
EDINET
2025-05-14
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-13
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-20
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINETAmended
2024-10-31
Amended Securities Registration Statement
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