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Overview

Information & Communication

FreeBit Co.,Ltd.

FreeBit Co., Ltd. is a Japan-based internet technology company that provides a broad range of internet-related services to both corporate and individual customers, leveraging its core competencies in internet core technology development and large-scale system operations. The company operates across three segments: 5G Infrastructure Support (ISP/MVNO support services and corporate cloud services), 5G Lifestyle Support (individual mobile/internet connectivity, apartment broadband, real estate, and Web3 platforms), and Enterprise & Creator 5G DX Support (internet marketing, ad technology, and creator support platforms). FreeBit differentiates itself through proprietary technology infrastructure and an integrated service ecosystem spanning telecom, cloud, and digital transformation.

Market Cap

US$276M

¥44.2B

US$288M

¥46.0B

StockUS$12.67(¥2,023)▲+1.40%

US$1 = ¥159.70 (2026-11-12)

LTM EV/EBITDA

6.2

LTM EV/EBIT

6.7

LTM PER

10.8

LTM PBR

5.5

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+12.7%pt

Nov 13, 25 – Nov 13, 26StockTOPIX

1Oct 29, 26Full-year FY2026/04 earnings announced

MC → EV Bridge

AI Briefing

FreeBit runs 5G-era internet infrastructure across ISP/MVNO wholesale, consumer connectivity and enterprise DX in Japan; FY26/4 revenue US$393M (¥62.7B) with OP margin 11.0%. Founder Hiroki Ishida has agreed to unwind a prior acquisition for US$0.01 (¥1,) return $3.1mn, forfeit a $2.7mn earn-out and pay a $0.75mn settlement after patents behind the deal were found to be employee inventions; he has resigned but retains 16.70% of voting rights. Market read centers on founder governance fallout and a concentrated, fragmented cap table — Ishida, Hikari Tsushin group and Alps Alpine each holding mid-to-high-teens stakes — raising questions about ownership stability and board oversight going forward.

Beluuga Research · Intelligence

Japan Intelligence · 2026-10-26
Freebit to claw back $3.9mn from its founder. So what's next?

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Performance & Balance

Revenue 5Y (US$)

EBITDA 5Y (US$)

Net Income 5Y (US$)

Capital Structure

33%

67%

EquityD/E 2.04xDebt

Liquidity vs Debt 5Y (US$)▲ Net Cash

CashInv. Sec.Debt

Business Segments

2026/04 · US$ (¥B)

5G Lifestyle Support Business

Revenue

US$180M(¥28.8B)

Segment profit

US$26.4M(¥4.22B)14.7%

Enterprise/Creator 5G DX Support Business

Revenue

US$153M(¥24.4B)

Segment profit

US$5.02M(¥0.80B)3.3%

5G Infrastructure Support Business

Revenue

US$74.2M(¥11.9B)

Segment profit

US$11.8M(¥1.88B)15.9%

Other

Revenue

—

Segment profit

-US$0.13M(¥-0.02B)

Adjustments

Revenue

-US$14.3M(¥-2.29B)

Segment profit

US$0.05M(¥0.01B)

Shareholders

Top 10 hold 65.6%

as of 2026-04-30 · Source: Annual Securities Report

Hiroki ISHIDA

16.70%

ALPS ALPINE CO.,LTD.

16.09%

UHpartners 2 Investment Limited Partnership

8.15%

SoftBank Corp.

7.33%

Hikari Tsushin KK Investment Limited Partnership

5.53%

The Master Trust Bank of Japan, Ltd. (Trust Account)

4.52%

UHpartners 3 Investment Limited Partnership

2.79%

OBIC BUSINESS CONSULTANTS CO.,LTD.

2.06%

Jun MURAI

1.32%

Mitsuhiko MINAKADO

1.15%

Management

10 officers

Takumi SHIBATA

Representative Director, President

Apr 2005 Joined Nippon Telegraph and Telephone West Corporation (now NTT West Inc.) Aug 2015 Practice Manager, Communication BU, Dimension Data plc Oct 2016 Manager, Business Design Department, Nippon Telegraph and Telephone West Corporation (now NTT West Inc.) Apr 2019 Representative Director, President, Japan Infrastructure Waymark Co., Ltd. Jul 2024 Joined the Company Jul 2024 Director, Gigaprize Co., Ltd. Jul 2024 Executive Officer, the Company (current) Jun 2025 Vice President and Director, Gigaprize Co., Ltd. (current) Jul 2025 Representative Director, President, Dream Train Internet Inc. (current) Jul 2025 Managing Director, the Company Oct 2026 Representative Director, President, the Company (current)

1981-05-30

Ikuko WADA

Director

Apr. 1994: Joined Kinrei Co., Ltd. Jun. 2004: Joined AquaClara Co., Ltd. Oct. 2008: Joined Fractallist Co., Ltd. (now United Co., Ltd.). May 2012: Joined the Company. Jul. 2013: Director of Fullspeed Co., Ltd. Jul. 2014: Head of Group Management Division of the Company. May 2016: Executive Officer of the Company (current). Sep. 2016: Statutory Auditor of EPARK Healthcare Co., Ltd. (now Kusuri no Madoguchi Co., Ltd.). Sep. 2018: Director of ALC Press Inc. Jun. 2020: Director of GigaPrize Co., Ltd.; Director of FreeBit EPARK Healthcare Co., Ltd. (now Kusuri no Madoguchi Co., Ltd.). Jul. 2020: Head of Group HR Division and Head of Group Corporate Planning Division of the Company (current); Director of Fullspeed Co., Ltd. (current); Director of the Company (current). Nov. 2023: Outside Director of Media Kobo Co., Ltd. (current). Jun. 2024: Outside Director of MS-Japan Co., Ltd. (current). Jul. 2024: Statutory Auditor of GigaPrize Co., Ltd. (current).

1971-07-17

Takashi SHIMIZU

Director

May 2000 Founded the Company; appointed Director Jul 2003 Retired as Director of the Company Aug 2005 General Manager, Finance and Accounting Department, the Company Oct 2007 Corporate Auditor, Dream Train Internet Inc. Jul 2010 General Manager, Group Management Division and General Manager, Finance and Accounting Department, the Company Oct 2011 Executive Officer, the Company (current) Jun 2013 Director, Gigaprize Co., Ltd. Jul 2013 Director, the Company May 2014 Director and COO, the Company Mar 2015 Outside Director, Tone Mobile Co., Ltd. Apr 2015 Representative Director, President, Freebit Investment Co., Ltd. (current) Apr 2015 Representative Director, President, Freebit SmartWorks Co., Ltd. (current) Jul 2015 Director, Fullspeed Co., Ltd. Jul 2016 Vice President and Director, the Company Jul 2016 Representative Director, President, Beccoame Internet Co., Ltd. (current) Sep 2016 Director, EPARK Healthcare Co., Ltd. (now Kusuri no Madoguchi Inc.) Sep 2018 Director, ALC Co., Ltd. Jun 2020 Director, Gigaprize Co., Ltd. Jul 2020 General Manager, Administration Division, the Company (current) Jul 2020 Director, Fullspeed Co., Ltd. Oct 2020 Corporate Auditor, Dream Train Internet Inc. May 2021 Representative Director, President, Dream Train Internet Inc. Jun 2023 Corporate Auditor, Gigaprize Co., Ltd. Jul 2024 Director, Gigaprize Co., Ltd. (current) Jul 2025 Chairman of the Board, Dream Train Internet Inc. (current) Jul 2025 Representative Director, LERZ Co., Ltd. (current) Oct 2026 Director, the Company (current)

1974-02-26

Nobuhiko YONEYA

Director

Apr. 1981: Joined Alps Electric Co., Ltd. (now Alps Alpine Co., Ltd.). Mar. 2000: Representative Director, President of Alps Electric (UK) Limited. Jun. 2004: Director of Alps Electric Co., Ltd. (now Alps Alpine Co., Ltd.). Jun. 2009: Managing Director, MMP Business Division & Procurement of Alps Electric Co., Ltd. Jun. 2012: Senior Managing Director, Head of Administration Division of Alps Electric Co., Ltd. Jun. 2015: Senior Managing Director of Alpine Electronics, Inc. (now Alps Alpine Co., Ltd.). Jun. 2016: Representative Director, President of Alpine Electronics, Inc. Jan. 2019: Representative Director, Deputy President & Executive Officer of Alps Alpine Co., Ltd. Jul. 2023: Outside Director of the Company (current).

1955-09-20

Seiji TAKEDA

Director

Apr. 1984: Joined MBS Television, Inc. (Mainichi Broadcasting System); News Division. Jun. 1991: Television Sales Division, MBS. Apr. 1999: Television Programming Division, MBS Tokyo Office. Apr. 2010: Television Production Division, MBS Tokyo Office. Jun. 2015: General Manager, Programming Division, MBS Osaka Head Office. Jun. 2017: General Manager, Content Business Division, MBS. Jun. 2019: Managing Director of GAORA Inc. Jun. 2021: Representative Director, President of GAORA Inc. Jul. 2023: Outside Director of the Company (current).

1960-04-16

Hideaki TOKI

Director

Apr. 1988: Joined Intel K.K. Dec. 2009: Senior Director, Technical Division, Intel K.K. Jun. 2010: Deputy Head, Technical Division, Intel K.K. Jun. 2011: Head, Technical Division, Intel K.K. Jun. 2012: Executive Officer, Intel K.K. Oct. 2017: Director & Division Head, Asia-Pacific Technical Promotion and Technical Divisions, Intel K.K. Nov. 2017: Senior Managing Executive Officer, Technical Division, Intel K.K. Apr. 2021: Senior Managing Executive Officer, 2nd Technical Division, Intel K.K. Jul. 2023: Outside Director of the Company (current).

1962-12-30

Shuichi SHINO

Full-time Audit & Supervisory Board Member

Apr. 1973: Joined Yamaichi Securities Co., Ltd. May 1985: Seconded to Japan Investor Services Co., Ltd. (now Rating and Investment Information, Inc.) as Senior Analyst, Credit Rating Division No. 1. Sep. 1987: Manager, General Affairs, Underwriting Planning Division, Yamaichi Securities Co., Ltd. May 1993: Head, Osaka Securities Underwriting Division, Yamaichi Securities Co., Ltd. Apr. 1998: Joined Sekisui Chemical Co., Ltd. Mar. 2002: IR Group Leader, Corporate Communications Division, Sekisui Chemical Co., Ltd. Mar. 2008: General Manager, Corporate Communications Division, Sekisui Chemical Co., Ltd. Jun. 2010: Full-time Statutory Auditor of Sekisui Chemical Co., Ltd.; Outside Statutory Auditor of Sekisui Jushi Co., Ltd.; Outside Statutory Auditor of Sekisui Koki Seisakusho Co., Ltd.; Outside Statutory Auditor of Armetax Co., Ltd. Jun. 2014: Statutory Auditor of Sekisui Insurance Service Co., Ltd.; Advisor to Sekisui Chemical Co., Ltd. Jun. 2015: Outside Director of GigaPrize Co., Ltd. Jun. 2016: Outside Director of Kuroda Electric Co., Ltd. Jul. 2018: Full-time Audit & Supervisory Board Member of the Company (current).

1949-12-01

Akihiro MATSUOKA

Full-time Audit & Supervisory Board Member

Apr. 1984: Joined Kokusai Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.). Apr. 2001: Head, IPO Underwriting Division. May 2009: Head, Conflict of Interest Management Office, Compliance Division. Feb. 2012: Joined Ootoya Holdings Co., Ltd.; Deputy General Manager, Corporate Planning Division. Apr. 2014: General Manager, Corporate Planning Division, Ootoya Holdings Co., Ltd. Jun. 2015: Executive Officer & General Manager, Corporate Planning Division, Ootoya Holdings Co., Ltd. Jun. 2016: Director & General Manager, Corporate Planning Division, Ootoya Holdings Co., Ltd. Jul. 2021: Outside Audit & Supervisory Board Member of the Company (current).

1959-10-07

Katsuyuki YAMAGUCHI

Audit & Supervisory Board Member

Apr. 1991: Registered with the Dai-ichi Tokyo Bar Association; joined Nishimura & Partners (now Nishimura & Asahi (Gaikokuho Kyodo Jigyo)). Jan. 1998: Admitted to the New York State Bar. Aug. 2000: Partner Attorney, Nishimura & Partners (now Nishimura & Asahi (Gaikokuho Kyodo Jigyo)). Mar. 2001: Outside Statutory Auditor of Rakuten, Inc. (now Rakuten Group, Inc.) (current). Jul. 2007: Outside Audit & Supervisory Board Member of the Company (current). Sep. 2018: Managing Partner, Nishimura & Asahi New York Office. Jan. 2025: Rejoined Nishimura & Asahi (Gaikokuho Kyodo Jigyo) as Partner Attorney (current); Head of Nishimura & Asahi New York Office (current).

1966-09-22

Yukiko NOZAKI

Corporate Auditor

Apr 1999 Joined Tokyu Kanko Co., Ltd. (now Tobu Top Tours Co., Ltd.) Dec 2007 Joined Azusa Audit Corporation (now Azusa Audit LLC) Jan 2012 Joined Shin Nihon LLC (now EY ShinNihon LLC) Mar 2018 Head, Yukiko Nozaki Certified Public Accountant Office (current) Mar 2020 Full-time Corporate Auditor, Rapyuta Robotics Co., Ltd. (current) Jun 2021 Outside Director, Yamako Corporation (current) Jul 2026 Outside Corporate Auditor, the Company (current)

1977-01-07

Large Shareholding Reports

Hiroki Ishida

2026-11-02

15.57%→15.53%

Annual report (as of 2026-04-30): 16.70%

Hiroki Ishida

2026-11-02

15.02%→15.57%

Annual report (as of 2026-04-30): 16.70%

Hiroki ISHIDA

2026-11-02

17.15%→15.02%

Annual report (as of 2026-04-30): 16.70%

UH Partners 2 Co., Ltd.

2026-08-05

8.08%→7.60%

UH Partners 2 Co., Ltd.

2025-09-26

8.08%→8.08%

Disclosures

Executive Change

2026-10-06

FreeBit Co.,Ltd.

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FreeBit Co.,Ltd.

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