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Overview

Information & Communication

JIG-SAW INC.

JIG-SAW provides cloud operation and IoT technology services underpinned by its proprietary Auto-sensing & Auto-control (A&A) technology platform. Its core offerings include the robotic automated operations platform 'puzzle' for 24/7 system management of servers, cloud infrastructure, and IoT devices, as well as the IoT engine 'NEQTO' and 'NEQTO.ai' for end-to-end IoT connectivity, data visualization, and OEM licensing on a global subscription basis. The company operates control centers in Sapporo (Japan) and Toronto (Canada), and is expanding into adjacent areas including autonomous vehicle/equipment control, AI-driven agentic system operations, and software-based visual restoration technology.

Market Cap

¥15.8B

US$101M

¥13.8B

US$87.7M

Stock¥2,396▼-1.36%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

17.2

LTM EV/EBIT

19.3

LTM PER

30.4

LTM PBR

4.4

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-35.3%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Oct 28, 25Continued activist investor accumulation

2Nov 4, 25Market caution on activist investment strategy

3Nov 6, 25Selling due to activist strategy concerns

4Feb 5, 26New activist investor position building

5Aug 4, 26Q2 FY2026/12 earnings announced

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

85%

EquityD/E 0.17xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 56.7%

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

UNION BANCAIRE PRIVEE (Standing Proxy: MUFG Bank, Ltd.)

16.69%

Masataka YAMAKAWA

13.75%

DEUTSCHE BANK AG, SINGAPORE A/C CLIENTS (TREATY; Standing Proxy: Mizuho Bank, Ltd.)

6.85%

Makoto SAITO

5.02%

Ryuhei TANAKA

4.71%

DAIWA CM SINGAPORE LTD (TRUST A/C; Standing Proxy: Daiwa Securities Co. Ltd.)

3.11%

PBG CLIENTS SG (Standing Proxy: Citibank, N.A.)

1.98%

Ryozai MIZUTANI

1.72%

Kyoko SAITO

1.46%

BANK JULIUS BAER AND CO. LTD. SINGAPORE CLIENTS (Standing Proxy: MUFG Bank, Ltd.)

1.41%

Management

6 officers

Masataka YAMAKAWA

Representative Director, President

Apr 1989 Joined Recruit Co., Ltd. Apr 2000 Joined trans cosmos inc. Jun 2002 Director, trans cosmos inc. May 2005 Director, IP Telecom Co., Ltd. (now the Company) Sep 2008 Representative Director, President, the Company (current)

1967-02-01

Hiromichi SUZUKI

Director

Apr 2006 Joined Tohmatsu & Co. (now Tohmatsu LLC) Aug 2009 Registered as Certified Public Accountant Aug 2012 Joined the Company Nov 2012 General Manager, Management Administration Unit, the Company Jul 2013 Director, General Manager, Management Administration Unit, the Company Sep 2015 Director, in charge of Corporate Affairs, the Company (current)

1983-08-20

Taisei SHIGA

Director

Apr 1998 Joined SEC Co., Ltd. Apr 2004 Joined IP Telecom Co., Ltd. (now the Company) May 2006 Director, IP Telecom Co., Ltd. Sep 2008 Director, the Company Sep 2015 Director, in charge of Data Control and R&D, the Company (current)

1973-07-09

Makoto MORO

Director, Audit and Supervisory Committee Member

Apr 1983 Joined Tobu Railway Co., Ltd. Sep 1985 Joined Daini-Denden Inc. (now KDDI Corporation) Apr 1997 Joined trans cosmos inc., General Manager, Planning and Administration Department Jun 1998 Director, Head of President's Office, trans cosmos inc. Oct 2003 Joined Nagase Co., Ltd., General Manager, Information Systems Department Jul 2008 Senior Executive Officer, Head of Children's English Academy Division and General Manager, Information Systems Department, Nagase Co., Ltd. Mar 2014 Full-time Audit & Supervisory Board Member, the Company Oct 2014 Outside Audit & Supervisory Board Member, MediaSeek Inc. Mar 2016 Director, Audit and Supervisory Committee Member, the Company (current) May 2016 Outside Audit & Supervisory Board Member, Kyoritsu Joho Tsushin Co., Ltd. (current) Apr 2020 Representative Director, Chairman, Cirkit-J General Incorporated Association (current)

1961-03-04

Akihiko YAMAMOTO

Director, Audit and Supervisory Committee Member

Apr 1980 Joined Hokkaido Bank, Ltd. Aug 1999 Branch Manager, Asahigaoka Branch, Hokkaido Bank, Ltd. Jul 2000 Joined Soft Front Co., Ltd. Oct 2001 Director, Soft Front Co., Ltd. Sep 2005 Representative, Yamamoto Consulting Office (current) Dec 2006 Audit & Supervisory Board Member, IP Telecom Co., Ltd. (now the Company) May 2013 Outside Audit & Supervisory Board Member, Sapporo Drugstore Co., Ltd. (now Satsudora Holdings Co., Ltd.) Mar 2016 Director, Audit and Supervisory Committee Member, the Company (current) Aug 2020 Outside Director, Audit and Supervisory Committee Member, Satsudora Holdings Co., Ltd. (current)

1958-01-10

Shinichi MISAWA

Director, Audit and Supervisory Committee Member

Apr 1984 Joined Seibu Construction Co., Ltd. Apr 1989 Joined Daiwa Securities Co., Ltd. (now Daiwa Securities Group Inc.) Jul 1997 Established D Brain Securities Co., Ltd., Representative Director, President Jul 1999 Joined trans cosmos inc., Deputy Head, Business Planning and Development Division Oct 2002 Senior Managing Director, trans cosmos inc. Apr 2004 Senior Managing Director, CFO (Chief Financial Officer), trans cosmos inc. May 2006 Representative Director, Co-Creation Partners Co., Ltd. (current) Sep 2008 Outside Director, Macromill, Inc. Jul 2009 Outside Audit & Supervisory Board Member, Frontier International Inc. (current) Jul 2011 Outside Director, Zappallas, Inc. Jun 2013 Outside Audit & Supervisory Board Member, Minato Electronics Inc. (now Minato Holdings Co., Ltd.) Mar 2014 Audit & Supervisory Board Member, the Company Jun 2015 Outside Director, Kudan Inc. Mar 2016 Director, Audit and Supervisory Committee Member, the Company (current) Dec 2019 Outside Audit & Supervisory Board Member, OneCareer Inc. Jun 2020 Outside Director, Audit and Supervisory Committee Member, Kudan Inc. (current) Mar 2022 Outside Director, Audit and Supervisory Committee Member, OneCareer Inc. (current)

1960-06-22

Large Shareholding Reports

No filings

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-08-06

Semi-Annual Securities Report

Period: Jan 2026 – Dec 2026

JIG-SAW INC.

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JIG-SAW INC.

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