Overview
Information & Communication

m-up holdings,Inc.

M-UP Holdings is a Japanese entertainment technology group that plans, produces, and operates digital content sites and services for smartphones and PCs, with core offerings spanning fan club/fan site management, digital music and entertainment content distribution, and e-commerce sales of artist merchandise and packaged media (CDs/DVDs). The group also operates an electronic ticketing business providing digital tickets and ticket trade services for live events via smartphone. Its competitive strengths lie in deep networks with music industry content holders (record labels and artists), a creative-led rather than technology-led approach to content curation, and a cross-platform ecosystem that connects artists with fans across multiple content verticals.

Market Cap
¥62.1B
US$396M
EV
¥44.6B
US$285M
Stock¥893▲+1.59%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.2
x
LTM EV/EBIT
8.2
x
LTM PER
22.4
x
LTM PBR
7.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-32.5%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 17, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
62.1BUS$396MMarket Cap0.00BUS$0.00M+ Debt15.3BUS$97.9M− Cash3.78BUS$24.1M− Inv. Sec.1.69BUS$10.8M+ NCI44.6BUS$285MEV
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Performance & Balance
Revenue 5Y (¥B)
13.6US$86.6M'22/315.9US$102M'23/318.6US$118M'24/325.8US$164M'25/331.7US$202M'26/3
EBITDA 5Y (¥B)
1.84US$11.7M'22/32.35US$15.0M'23/33.12US$19.9M'24/34.32US$27.6M'25/35.20US$33.2M'26/3
Net Income 5Y (¥B)
0.98US$6.22M'22/31.09US$6.97M'23/31.48US$9.45M'24/31.66US$10.6M'25/32.97US$18.9M'26/3
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
8.14US$51.9M'22/38.98US$57.2M'23/310.6US$67.8M'24/314.3US$91.2M'25/320.0US$128M'26/3
Shareholders
Top 10 hold 58.3%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
18.82%
2
Koichiro BITO
12.26%
3
Custody Bank of Japan, Ltd. (Trust Account)
11.56%
4
JPMorgan Securities Japan Co., Ltd.
4.65%
5
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
3.10%
6
RE FUND 107-CLIENT AC (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.14%
7
Nomura Trust and Banking Co., Ltd. (Investment Trust Account)
1.62%
8
MORGAN STANLEY&CO.LLC (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
1.39%
9
KOREA SECURITIES DEPOSITORY-KOREA INVESTMENT AND SECURITIES (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.38%
10
Hajime SATO
1.34%
Management
6 officers
Koichiro BITO
Representative Director
Feb 1984 Joined Victor Music Industries, Inc. (now Victor Entertainment, Inc.) Aug 1990 Joined Toshiba EMI Limited (now EMI Music Japan Inc.) Jun 1997 Joined Borderless Connection Co., Ltd. (now Unlimited Group Co., Ltd.) Jul 1998 Director, Headwax Organization Co., Ltd. Aug 2003 Director, Unlimited Group Co., Ltd. Dec 2004 Founded the Company; Director Oct 2005 Representative Director of the Company (current)
1958-08-12
Toshiki FUJIIKE
Director; General Manager, General Affairs and Accounting Department (in charge of Administration)
Apr 1987 Joined Shinyo Shinpan Co., Ltd. Sep 1992 Joined AST Research Japan K.K. Mar 1996 Joined Akia Co., Ltd. Apr 1998 Joined Nihon Cytex Co., Ltd. Jan 2001 Joined Commerce Center Co., Ltd. Dec 2004 Joined Aprix Inc. Jul 2007 Joined the Company; General Manager, Accounting Department Aug 2007 Director and General Manager, Accounting Department of the Company Oct 2009 Director in charge of Administration of the Company (current)
1964-06-24
Yutaka GOTO
Director
Apr 1972 Founded Yui Music Publishing Co., Ltd.; Representative Director May 1972 Founded Yui Music Studio Co., Ltd.; Representative Director Jun 1975 Founded For Life Records Co., Ltd.; Representative Director and Vice President Jun 1982 Representative Director and President, For Life Records Co., Ltd. Mar 1985 Director, Recording Industry Association of Japan Oct 1986 Founded Music Producers' Association; Chairman Mar 1993 Founded Music Industry and Culture Promotion Foundation (now Japan Music Industry and Culture Promotion Foundation); Vice Chairman Oct 2001 Representative Director, Yui Music Inc. (current) Nov 2001 Representative Director and President, For Life Music Entertainment Inc. (current) Apr 2013 Chairman, Japan Music Industry and Culture Promotion Foundation (current) Jun 2019 Director of the Company (current)
1949-03-28
Tomoyoshi NAGATA
Director, Audit and Supervisory Committee Member
Sep 1973 Joined Glass Co., Ltd. Sep 1975 Joined IS Planning Center Co., Ltd. (now IS Inc.) Aug 1978 Founded Hot Staff Promotion Co., Ltd.; Representative Director (current) Jun 2000 Chairman, Japan Concert Tour Promoters Association (now Concert Promoters Association) Apr 2019 Director, Board of Trustees and Board of Councillors, Katayanagi Gakuen (current) Oct 2023 Vice President and Director, Smash Co., Ltd. (current) Jun 2024 Director, Audit and Supervisory Committee Member of the Company (current)
1955-07-26
Hiroyuki KISHI
Director, Audit and Supervisory Committee Member
Apr 1986 Joined Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Sep 2001 Assistant to the Minister of State for Economic and Fiscal Policy Sep 2005 Secretary to the Minister of Internal Affairs and Communications Jun 2006 Associate Professor, Keio University DMC Integrated Research Institute Jun 2007 Director, Avex Group Holdings Inc. Apr 2008 Professor, Graduate School of Media Design, Keio University (current) Jun 2011 Outside Director, Meitec Corporation Jul 2020 Councillor, Cabinet Secretariat
1962-09-01
Kathryn H. CONNELLY
Director, Audit and Supervisory Committee Member
Apr 1979 Joined SMS Records Co., Ltd. Apr 1984 Founded Tex Agency Co., Ltd.; Representative Director (current) Jun 2022 Director, Audit and Supervisory Committee Member of the Company (current)
1957-08-12
Large Shareholding Reports
Sumitomo Mitsui DS Asset Management Company, Limited
2026-10-21
5.30%→6.64%
Sumitomo Mitsui DS Asset Management Company, Limited
2026-08-20
5.30%
Morgan Stanley MUFG Securities Co., Ltd.
2026-07-06
3.04%→2.33%
Amova Asset Management Co., Ltd.
2026-07-06
4.21%→2.60%
Fidelity Management & Research Company LLC
2026-06-10
3.10%→1.22%
FMR LLC
2026-06-10
—
Fidelity Management & Research Company LLC
2026-06-08
3.10%
FMR LLC
2026-06-08
—
Asset Management One Co., Ltd.
2026-06-05
5.90%→4.51%
Fidelity Investment Trust Company, Limited
2026-06-05
6.13%→2.04%
Morgan Stanley MUFG Securities Co., Ltd.
2026-06-04
3.04%
Amova Asset Management Co., Ltd.
2026-06-04
4.69%→4.21%
J.P. Morgan Securities Japan Co., Ltd.
2026-05-08
4.58%→3.54%
Annual report (as of 2026-03-31): 4.65%
J.P. Morgan Securities Japan Co., Ltd.
2026-04-03
4.58%
Annual report (as of 2026-03-31): 4.65%
Fidelity Investment Trust Company, Limited
2026-03-23
5.10%→6.13%
FMR LLC
2026-03-06
5.07%→2.15%
Asset Management One Co., Ltd.
2026-03-06
7.23%→5.90%
Fidelity Investment Trust Company, Limited
2026-01-22
5.10%
Amova Asset Management Co., Ltd.
2025-11-20
3.67%→4.69%
Fidelity Investments Japan Limited
2025-11-10
5.34%→4.22%
Amova Asset Management Co., Ltd.
2025-10-21
3.67%
Asset Management One Co., Ltd.
2025-10-07
6.21%→7.23%
Amova Asset Management Co., Ltd.
2025-09-19
3.34%→2.86%
Koichiro BITO
2025-08-12
13.00%→11.99%
Annual report (as of 2026-03-31): 12.26%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-21
Large Shareholding Report
EDINET
2026-08-20
Large Shareholding Report
TDnet
2026-08-14
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-06
Large Shareholding Report
EDINET
2026-07-06
Large Shareholding Report
EDINET
2026-06-26
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-10
Large Shareholding Report
EDINETAmended
2026-06-10
Change Report
EDINET
2026-06-08
Large Shareholding Report
EDINETAmended
2026-06-08
Change Report
EDINET
2026-06-05
Large Shareholding Report
EDINET
2026-06-05
Large Shareholding Report
EDINET
2026-06-04
Large Shareholding Report
EDINET
2026-06-04
Large Shareholding Report
EDINET
2026-05-08
Large Shareholding Report
EDINET
2026-04-03
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-22
Large Shareholding Report
EDINET
2025-11-20
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
EDINET
2025-11-10
Large Shareholding Report
EDINET
2025-10-21
Large Shareholding Report
EDINET
2025-10-07
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-14
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-12
Large Shareholding Report
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
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