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PAPYLESS CO.,LTD.

Papyless Co., Ltd. operates digital e-book sales platforms for smartphones, tablets, and PCs, with its flagship services including 'Denshi Shoten Papyless' and the rental-based e-book platform 'Renta!'. The company distributes Japanese manga and other content internationally through English-language and Traditional Chinese-language versions of Renta!, with subsidiaries operating in Taiwan, the United States, and Hong Kong. In addition to its core e-book distribution business, the group engages in IP production including Webtoon content development through its subsidiary JadeComiX Co., Ltd.

Market Cap

¥8.49B

US$54.0M

¥-2.08B

-US$13.2M

Stock¥981▲+0.20%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

148.2

LTM EV/EBIT

86.5

LTM PER

LTM PBR

1.0

2026-08-25 closing price basis: ranked #56 in beluuga.ai's "Japanese listed companies with negative Enterprise Value" ranking (simplified EV ≈ ¥-21B).

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-16.9%pt

Oct 23, 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

100%

EquityD/E 0.00xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 56.5%

as of 2026-03-31 · Source: Annual Securities Report

Mikio AMAYA

39.49%

SEGA SAMMY HOLDINGS INC.

10.37%

Yasuko MATSUI

2.92%

Tomoki FUKUI

1.06%

BNP PARIBAS NEW YORK BRANCH - PRIME BROKERAGE CLEARANCE ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

0.67%

Nomura Securities Co., Ltd.

0.50%

CITIBANK HONG KONG PBG CLIENTS H.K. (Standing Proxy: Citibank, N.A., Tokyo Branch)

0.46%

The Dai-ichi Life Insurance Company, Limited

0.37%

Custody Bank of Japan, Ltd. (Trust Account)

0.35%

SBI SECURITIES Co., Ltd.

0.31%

Management

10 officers

Yasuko MATSUI

Representative Director, President

Nov 1995 Joined the Company Apr 2000 Head of WEB Editorial Department Jun 2000 Director Jun 2003 Head of Business Planning Office Jun 2006 Senior Managing Director Jun 2006 Executive Director, Business Planning Office Nov 2006 General Manager of Administration Division Jul 2007 General Manager of General Affairs and Accounting Department Jun 2012 Representative Director, President (current) Sep 2014 Representative Director, Babile Shiwang Keji Co., Ltd. (current) Jul 2015 Director, Neoarudo Co., Ltd. Jun 2017 Director and CEO, Papyless Global, Inc. (current) Apr 2018 Director and CEO, PAPYLESS HONG KONG CO., LTD. (current) Jul 2019 Representative Director, President, Aldo Agency Global Co., Ltd. (current) May 2023 Director, JadeComiX Co., Ltd. (current)

1969-03-17

Tomoki FUKUI

Senior Managing Director, Head of Procurement Division

Nov 1995 Joined the Company Apr 2002 General Manager of Content Planning Department Jun 2002 Director Jul 2007 Head of Sales Division Sep 2010 Head of Procurement Division (current) Sep 2013 General Manager of Content Planning and Development Department Jun 2015 Senior Managing Director (current) Jul 2015 Representative Director, President, Neoarudo Co., Ltd. Jul 2019 Director, Aldo Agency Global Co., Ltd. (current) Jan 2021 Director, Babile Shiwang Keji Co., Ltd. (current) May 2023 Representative Director, President, JadeComiX Co., Ltd. (current)

1970-12-17

Mikio AMAYA

Director, Advisor

Mar 1974 Joined Fujitsu Limited Apr 1989 Senior Researcher, Fujitsu Laboratories Ltd. Apr 1992 Manager of Small Printer Development Section, Fujitsu Limited Mar 1995 Founded the Company; Representative Director, President Jun 2012 Chairman of the Board, Director Jun 2012 In charge of Overseas Operations Sep 2014 Director, Babile Shiwang Keji Co., Ltd. (current) Jun 2017 Director, Papyless Global, Inc. (current) Apr 2018 Director, PAPYLESS HONG KONG CO., LTD. (current) Jun 2025 Advisor (current)

1948-03-07

Hideaki OKADA

Director; Head of Sales Division and General Manager of System Administration Department

Apr 1997 Joined Kokudo Joho Kaihatsu Co., Ltd. Nov 2000 Joined the Company Oct 2003 General Manager of WEB Development Department Nov 2007 Deputy General Manager of WEB Editorial Department Jun 2008 Director (current) Sep 2010 Head of Sales Division (current) Apr 2014 General Manager of System Administration Department (current) Apr 2014 Deputy General Manager of WEB Editorial Department Jun 2017 Director, Papyless Global, Inc. (current)

1974-07-30

Yoshikazu SUNAGA

Director; Head of Administration Division and General Manager of General Affairs and Accounting Department

Apr 1990 Joined Taiheiyo Bank Ltd. Nov 1993 Joined Sanyu Biken Ltd. Feb 1996 Joined Nakata Accounting Office Oct 2007 Joined the Company Apr 2008 General Manager of General Affairs and Accounting Department (current) Jun 2012 Director (current) Jun 2012 Head of Administration Division (current) Sep 2014 Director, Babile Shiwang Keji Co., Ltd. Jul 2015 Director, Neoarudo Co., Ltd. Jun 2017 Director and CFO, Papyless Global, Inc. (current) Apr 2018 Director, PAPYLESS HONG KONG CO., LTD. (current) Jan 2021 Auditor, Babile Shiwang Keji Co., Ltd. (current) May 2023 Director, JadeComiX Co., Ltd. (current)

1967-09-03

Kimihisa IMADA

Director

Apr 1980 Joined The Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Jan 2006 Executive Officer and General Manager, Los Angeles Branch; Executive Vice President, Union Bank of California Jul 2008 Executive Officer and General Manager, Jakarta Branch Mar 2011 Joined JCB Co., Ltd.; General Manager, International Division Jun 2011 Executive Officer and General Manager, International Division, JCB Co., Ltd. Jun 2014 Managing Executive Officer and General Manager, International Division, JCB Co., Ltd.; Representative Director and COO, JCB International Feb 2022 Joined Ampcore Co., Ltd.; Senior Managing Director Aug 2022 Director, Bitcash Co., Ltd. (current) Jun 2023 Director of the Company (current)

1957-07-01

Kenji MITAKE

Director

Apr 1982 Joined Fujitsu Limited Apr 2000 General Manager of Sales Promotion Department, PC Business Division, Fujitsu Limited Apr 2003 General Manager of Personal Marketing Division, Personal Business Unit, Fujitsu Limited Feb 2010 Deputy Head of the same Unit; General Manager of Personal Marketing Division and Global Business Division, Fujitsu Limited May 2011 Joined Nifty Corporation; Executive Officer Jun 2012 Representative Director, President, Nifty Corporation Oct 2017 Director, S-Cubism Co., Ltd. Oct 2020 Executive Advisor, Knowledge Peace Co., Ltd. (current) Jun 2025 Director of the Company (current)

1959-06-03

Masahiko SAITO

Standing Audit & Supervisory Board Member

Apr 1984 Joined Fuji Xerox Co., Ltd. (now FUJIFILM Business Innovation Corp.) Apr 2004 General Manager of Marketing Department, Overseas Sales Division, Fuji Xerox Co., Ltd. Apr 2008 President, Fuji Xerox Asia Pte Ltd (Malaysia Operations) Apr 2008 President, Fuji Xerox Malaysia Sdn. Bhd. Oct 2012 General Manager of Sales Promotion Division, Global Service Business Division, Fuji Xerox Co., Ltd. Apr 2017 General Manager of Group Company Management Promotion Department, Fuji Xerox Co., Ltd. Jul 2019 General Manager of New Growth Business Creation Department, Fuji Xerox Co., Ltd. May 2022 Senior Advisor, Audit & Supervisory Board Office, FUJIFILM Holdings Corporation May 2024 Director, AEON Fantasy Co., Ltd. (current) Jun 2025 Audit & Supervisory Board Member of the Company (current) Aug 2025 Auditor, Neoarudo Co., Ltd. Aug 2025 Auditor, Aldo Agency Global Co., Ltd. (current) Aug 2025 Auditor, JadeComiX Co., Ltd. (current)

1962-04-01

Kiyohito SAITO

Audit & Supervisory Board Member

Apr 1992 Joined Nihon Godo Finance Co., Ltd. (now Jafco Group Co., Ltd.) Oct 2019 Representative, Saito Management Service, Certified Social Insurance and Labor Consultant (current) Jun 2020 Audit & Supervisory Board Member of the Company (current)

1968-12-20

Takeshi KAMAYA

Audit & Supervisory Board Member

Apr 1983 Joined Meiji Life Insurance Company (now Meiji Yasuda Life Insurance Company) Apr 2004 Joined Shin Nihon & Co. (now EY ShinNihon LLC) May 2007 Partner, Shin Nihon & Co. Jul 2014 Senior Partner, Shin Nihon LLC Jun 2022 Auditor, ROXX Co., Ltd. (current) Jun 2023 Audit & Supervisory Board Member of the Company (current)

1960-04-17

Large Shareholding Reports

SEGA SAMMY HOLDINGS INC.

2026-08-24

8.72%→0.00%

Annual report (as of 2026-03-31): 10.37%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-08-24

Large Shareholding Report

PAPYLESS CO.,LTD.

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PAPYLESS CO.,LTD.

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