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Overview

Information & Communication

CrowdWorks Inc.

CrowdWorks operates Japan's largest-scale freelance platform with 7 million registered workers and 1 million registered companies, providing online talent matching services across a broad range of skills including IT, engineering, and creative work. The company also operates CrowdWorks Agent, a staffing solution that deploys human agents to match specialized freelance talent with corporate clients, and is expanding into DX consulting services combining full-time consultants, freelancers, and group company capabilities. Additionally, the company provides CrowdLog, a B2B SaaS workload management tool adopted by over 900 companies, primarily large enterprises.

Market Cap

¥11.0B

US$69.9M

¥7.73B

US$49.3M

Stock¥692▼-2.12%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

9.3

LTM EV/EBIT

9.9

LTM PER

LTM PBR

1.7

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-39.8%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Nov 18, 25Large shareholding report by Maki Hiroyuki

2Feb 16, 26Q3 earnings below expectations

3Mar 9, 26Market-wide: Rate hike concern adjustment

4Mar 10, 26Technical rebound from previous decline

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

65%

35%

EquityD/E 0.54xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 54.0%

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

Koichiro YOSHIDA

23.78%

CyberAgent,Inc.

9.57%

Tachibana Securities Co., Ltd.

6.02%

Custody Bank of Japan, Ltd. (Trust Account)

2.95%

Rakuten Securities, Inc. (Joint Account)

2.47%

Ueda Yagi Tanshi Co., Ltd.

2.21%

Shinichi NOMURA

2.04%

THE BANK OF NEW YORK 133652 (Standing Proxy: Mizuho Bank, Ltd.)

1.90%

BBH LUX/BROWN BROTHERS HARRIMAN (LUXEMBOURG) SCA CUSTODIAN FOR SMD-AM FUNDS - DSBI JAPAN EQUITY SMALL CAP ABSOLUTE VALUE (Standing Proxy: Sumitomo Mitsui Banking Corporation)

1.58%

SBI SECURITIES Co., Ltd.

1.51%

Management

8 officers

Koichiro YOSHIDA

Representative Director, President and CEO

Apr 1999 Joined Pioneer Corporation Jan 2001 Joined Lead Exhibition Japan Co., Ltd. Feb 2005 Joined Dolicom Inc. Oct 2007 Founded ZOOEE Inc., Representative Director, President (current) Nov 2011 Founded the Company, Representative Director, President and CEO (current) Mar 2018 Director, Denen Inc.

1974-11-16

Koichi OHRUI

Director

Apr 2002 Joined NEC Corporation Dec 2006 Joined Recruit Co., Ltd. Apr 2015 Joined the Company Apr 2017 General Manager, Business Development Division, Executive Officer, the Company Dec 2018 Director, the Company Aug 2020 Representative Director, graviee Inc. Apr 2022 Director, Managing Executive Officer and COO, the Company Jan 2024 Representative Director, Soten Co., Ltd. Apr 2024 Director, SEPTA Inc. (current) Oct 2024 Director, Managing Executive Officer, the Company (current) Nov 2024 Director, CLOCK-IT Co., Ltd. May 2025 Director, InGate Co., Ltd. (now CrowdWorks Consulting Co., Ltd.) Jun 2025 Director, Yuukuri Co., Ltd. (current) Sep 2025 Director, skyny Co., Ltd. (current) Sep 2025 Outside Corporate Auditor, Digimar Co., Ltd. (current) Oct 2025 Representative Director, CrowdWorks Consulting Co., Ltd. (current)

1979-04-18

Takatsugu TSUKII

Director

Apr 1999 Joined Hitachi Telecom Technology, Ltd. (now Hitachi, Ltd.) Nov 2000 Joined MTI Ltd. Jun 2002 Joined Nihon Enterprise Co., Ltd. Apr 2013 Director, andOne Inc. Jun 2013 Director, Four Quria Inc. Nov 2014 Director, Aizu Lab Inc. Dec 2014 Executive Officer, Nihon Enterprise Co., Ltd. Jul 2015 Director, Promote Inc. Mar 2017 Director, Traffic Information Service Co., Ltd. Feb 2018 Joined the Company May 2019 Executive Officer, the Company Nov 2019 Corporate Auditor, Brain Partner Inc. Nov 2019 Corporate Auditor, graviee Inc. Nov 2019 Corporate Auditor, Bizassi Inc. Dec 2020 Director, the Company Oct 2021 Director, Codeal Co., Ltd. Apr 2022 Director, Executive Officer, the Company (current) Oct 2022 Director, Peaceful Morning Co., Ltd. (current) Apr 2023 Corporate Auditor, Shumatsu Worker Inc. Jan 2024 Corporate Auditor, Soten Co., Ltd. Mar 2024 Director, Yuukuri Co., Ltd. (current) Apr 2024 Corporate Auditor, AItech Co., Ltd. (current) Jul 2024 Corporate Auditor, Sonic Move Inc. Nov 2024 Corporate Auditor, InGate Co., Ltd. (now CrowdWorks Consulting Co., Ltd.) Nov 2024 Corporate Auditor, CLOCK-IT Co., Ltd. May 2025 Director, InGate Co., Ltd. (now CrowdWorks Consulting Co., Ltd.) (current) May 2025 Outside Director, Beyond Blue Inc. (current) Jun 2025 Director, Sonic Move Inc. (current) Jun 2025 Director, Shumatsu Worker Inc. (current) Sep 2025 Corporate Auditor, skyny Co., Ltd. (current)

1975-01-11

Yusuke AIBA

Director, Executive Officer and CFO

Apr 2003 Joined Merrill Lynch Japan Securities Co., Ltd. Jan 2016 Joined Mizuho Securities Co., Ltd. Nov 2021 Joined the Company Feb 2022 Manager, IR Office and M&A, the Company Jan 2023 Executive Officer, the Company Aug 2024 Executive Officer and CFO, the Company Dec 2025 Director, Executive Officer and CFO, the Company

1980-05-24

Shinichi NOMURA

Director, Audit and Supervisory Committee Member

Apr 2002 Joined Ensights Co., Ltd. Feb 2010 Founded Ikki Co., Ltd., Representative Director, President Nov 2011 Founded the Company, Director Apr 2022 Director, Executive Officer, the Company Dec 2025 Director, Audit and Supervisory Committee Member, the Company

1979-05-11

Takeshi NIINAMI

Director

Apr 1981 Joined Mitsubishi Corporation Jun 1995 Representative Director, President, Sodex Corporation (now LEOC Co., Ltd.) May 2002 Representative Director, President and CEO, Lawson, Inc. May 2014 Director and Chairman, Lawson, Inc. Oct 2014 Representative Director, President, Suntory Holdings Limited Dec 2021 Director, the Company (current) Apr 2023 Representative Member, Keizai Doyukai Apr 2025 Representative Director, Chairman, Suntory Holdings Limited

1959-01-30

Yuya TAKETANI

Director, Audit and Supervisory Committee Member

Apr 2011 Joined GREE, Inc. Jan 2013 Joined Gunosy Inc. Aug 2013 Director, Gunosy Inc. Aug 2016 Representative Director, Gunosy Inc. Dec 2018 Director, the Company Dec 2023 Director, Gunosy Inc. Feb 2024 Representative Director, President, SCORA Inc. (current) Dec 2025 Director, Audit and Supervisory Committee Member, the Company

1989-03-04

Kotaro IKEDA

Director, Audit and Supervisory Committee Member

Apr 2001 Joined POLA Cosmetics Co., Ltd. (now POLA Inc.) Dec 2007 Registered as attorney-at-law Jan 2008 Joined Authense Law Office Jun 2015 Outside Director, The CFO Consulting Co., Ltd. (current) Dec 2015 Corporate Auditor, the Company Apr 2017 Managing Attorney, Shin Nihon Partners Law Office (current) Dec 2025 Director, Audit and Supervisory Committee Member, the Company

1977-12-28

Large Shareholding Reports

Sumitomo Mitsui DS Asset Management Company, Limited

2026-05-21

5.01%→3.67%

Hiroyuki MAKI

2026-05-19

6.02%→6.02%

Hiroyuki MAKI

2026-02-27

6.02%→6.02%

Hiroyuki MAKI

2026-02-24

6.03%→6.02%

Correction filing (name/detail fix only) — ratio carried over from the original filing

Hiroyuki MAKI

2026-02-20

6.03%→6.02%

Hiroyuki MAKI

2025-11-21

6.03%→6.03%

Hiroyuki MAKI

2025-11-17

6.03%

Koichiro YOSHIDA

2025-10-01

24.68%→24.30%

Annual report (as of 2026-03-31): 23.78%

Grandeur Peak Global Advisors, LLC

2025-09-22

5.02%→3.98%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-14

Q3 Earnings Flash

FY ending Sep 2026

CrowdWorks Inc.

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CrowdWorks Inc.

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