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Overview

Information & Communication

Voltage Incorporation

Voltage Inc. is a Tokyo-based mobile content company specializing in the planning, production, development, and operation of story-driven mobile applications, primarily romance drama and suspense apps targeting smartphone users globally. The company operates on a freemium monetization model, combining free-to-play access with per-item or per-story micro-transaction charges. Beyond mobile apps, Voltage has expanded into digital comics (e-book/webtoon), IP merchandise, and consumer gaming under its 'AmuLit' brand, leveraging its proprietary storytelling style centered on 'love and conflict' narratives.

Market Cap

¥1.38B

US$8.80M

¥0.02B

US$0.10M

Stock¥212▲+0.00%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

LTM EV/EBIT

LTM PER

LTM PBR

0.6

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-46.4%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Nov 14, 25Q2 guidance revision downward

2Nov 25, 25Interim earnings boosting expectations

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

96%

EquityD/E 0.04xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 46.3%

as of 2026-06-30 · Source: Annual Securities Report

Yuji TSUYA

10.70%

Third Street Co., Ltd.

10.14%

SBI SECURITIES Co., Ltd.

6.25%

Nanako TSUYA

5.58%

Seigo NAITO

2.91%

Kimihito MIZUMOTO

2.69%

Yoshiko KOMORI

2.15%

Hikaru HOSHIKAWA

2.08%

Kenji AIDA

2.00%

Ken SHIOZAKI

1.84%

Management

7 officers

Keita KATO

Representative Director, President

Apr 2007 Joined the Company Jan 2012 Joined Taito Corporation Aug 2013 Joined the Company Jul 2014 Executive Officer of the Company Sep 2021 Director of the Company Sep 2024 Director and Executive Vice President of the Company Sep 2026 Representative Director, President of the Company (current)

1979-08-14

Yuji TSUYA

Director, Chairman of the Board

Apr 1985 Joined Hakuhodo Inc. Sep 1999 Established the Company; Representative Director, President Sep 2013 Director, Chairman of the Board of the Company Sep 2014 Representative Director, Chairman of the Company Jul 2016 Representative Director, Chairman and President of the Company Oct 2017 Representative Director, President of Borpictures Inc. Sep 2020 Representative Director, President of the Company Sep 2021 Director of Borpictures Inc. (current) Sep 2026 Director, Chairman of the Board of the Company (current)

1963-03-10

Nanako AZUMA

Director and Vice Chairman

Apr 1992 Joined Hakuhodo Inc. Apr 2000 Director of the Company Oct 2007 Director and Executive Vice President of the Company Sep 2013 Director and Vice Chairman of the Company Oct 2017 Director of Borpictures Inc. (current) Sep 2020 Director and Executive Vice President of the Company Sep 2026 Director and Vice Chairman of the Company (current)

1969-06-21

Yusuke KAWANISHI

Director

Dec 2014 Joined Arata Audit Corporation (now PwC Japan LLC) Nov 2020 Joined NEST TOKYO Inc. Nov 2020 Representative, Kawanishi Certified Public Accountant and Tax Accountant Office (current) Sep 2025 Outside Director (Audit and Supervisory Committee Member) of the Company Nov 2025 Representative Director of KGA Inc. (current) Sep 2026 Director of the Company (current)

1984-05-08

Kenichi NAGAYAMA

Director, Audit and Supervisory Committee Member

Apr 1978 Joined Kyowa Bank, Ltd. (now Resona Bank, Ltd.) Apr 2012 Joined Resona Business Service Co., Ltd. Jun 2013 Executive Officer, Resona Business Service Co., Ltd. Apr 2016 Joined Tokyo Information Systems Co., Ltd.; Vice President and Director of the same company Dec 2019 Joined Daiwa Co., Ltd.; General Manager, General Affairs Department of the same company Jul 2020 Executive Officer, Daiwa Co., Ltd. Jul 2023 Department Manager in charge of Administration Division, Daiwa Co., Ltd. Sep 2024 Outside Director (Audit and Supervisory Committee Member) of the Company Sep 2025 Auditor of Borpictures Inc. (current) Sep 2025 Outside Director (Full-time Audit and Supervisory Committee Member) of the Company (current)

1955-09-21

Hisao OGASAWARA

Director, Audit and Supervisory Committee Member

Apr 1982 Joined Nippon Sheet Glass Co., Ltd. May 1995 Director, Hokkaido Nippon Sheet Glass Co., Ltd. Mar 2003 Director and General Manager, General Administration Division, NSG Interior Co., Ltd. Nov 2015 Director, Testware Engineering Co., Ltd. Jan 2018 Full-time Auditor, United Precision Technologies Co., Ltd. Mar 2018 Auditor, Kyoken Co., Ltd. Mar 2018 Auditor, Koken Chemical Co., Ltd. Sep 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1959-04-11

Ryota TAKEDA

Director, Audit and Supervisory Committee Member

Oct 1992 Joined Asahi Shinwa Audit Corporation (now Azusa Audit LLC) Sep 2019 Opened Ryota Takeda Certified Public Accountant Office; Head (current) Oct 2020 Joined Ohshima Accounting Tax Corporation as Partner Tax Accountant Aug 2021 Opened Ryota Takeda Tax Accountant Office; Head (current) Sep 2026 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1969-07-11

Large Shareholding Reports

SBI Securities Co., Ltd.

2026-07-07

6.22%