Overview
Information & Communication

Sun* Inc.

Sun Asterisk operates a Digital Creative Studio business, providing end-to-end digital transformation and new business development support to Japanese corporates through two core service lines: Creative & Engineering (product ideation, MVP development, and agile software development) and Talent Platform (IT human resource placement, staffing, and RPO services). The company leverages a Vietnam-based engineering subsidiary with over 1,000 engineers across Hanoi, Danang, and Ho Chi Minh City to deliver cost-effective, scalable development capabilities. With a track record of over 1,000 digital product and DX engagements for 550+ clients, Sun Asterisk combines technology, design, and business expertise to accelerate clients' digital innovation.

Market Cap
¥23.5B
US$150M
EV
¥13.1B
US$83.6M
Stock¥602▼-0.17%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.5
x
LTM EV/EBIT
8.0
x
LTM PER
25.5
x
LTM PBR
2.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+17.7%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 16, 26Activist-related concern selling
2Mar 25, 26Listing maintenance plan announcement
MC → EV Bridge
23.5BUS$150MMarket Cap3.40BUS$21.7M+ Debt12.3BUS$78.2M− Cash1.52BUS$9.70M− Inv. Sec.13.1BUS$83.6MEV
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Performance & Balance
Revenue 5Y (¥B)
8.03US$51.2M'21/1210.7US$68.5M'22/1212.5US$79.8M'23/1213.6US$86.5M'24/1214.8US$94.6M'25/12
EBITDA 5Y (¥B)
1.46US$9.34M'21/120.97US$6.18M'22/121.90US$12.1M'23/121.58US$10.1M'24/121.17US$7.48M'25/12
Net Income 5Y (¥B)
1.30US$8.30M'21/120.82US$5.25M'22/121.57US$10.0M'23/121.02US$6.52M'24/120.48US$3.04M'25/12
Capital Structure
78%
22%
EquityD/E 0.29xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
6.14US$39.2M0.36US$2.29M'21/126.78US$43.2M0.28US$1.78M'22/128.44US$53.8M0.01US$0.07M'23/1210.5US$66.8M1.26US$8.02M'24/1211.9US$76.0M2.08US$13.3M'25/12
Shareholders
Top 10 hold 70.1%
1
Makoto HIRAI
29.83%
2
Yusuke HATTORI
13.81%
3
Taihei KOBAYASHI
8.58%
4
FUJIMOTO KAZUNARI-DAIWA CM SINGAPORE LTD-NOMINEE (Standing Proxy: Daiwa Securities Co. Ltd.)
8.24%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.60%
6
Kenichi TAKAKURA
2.81%
7
Daiwa Securities Co. Ltd.
0.85%
8
SBI Neotrade Securities Co., Ltd.
0.81%
9
Rakuten Securities, Inc.
0.79%
10
State Street Bank and Trust Company (Standing Proxy: Mizuho Bank, Ltd.)
0.79%
Management
7 officers
Taihei KOBAYASHI
Representative Director
Apr 2010 Joined Interprism Inc. Oct 2012 Appointed COO, Framgia Vietnam Co., Ltd. (now Sun Asterisk Vietnam Co., Ltd.) Sep 2015 Appointed Representative Director, Framgia Vietnam Co., Ltd. (now Sun Asterisk Vietnam Co., Ltd.) (current) Dec 2017 Appointed Representative Director, Executive Officer and CEO of the Company (current) Dec 2018 Appointed Director, Groove Gear Inc. (now Sun terras Inc.) Sep 2021 Appointed Director, Trys Inc. (now Global Gear Inc.) Jan 2022 Appointed Representative Director, Trys Inc. (now Global Gear Inc.) Jun 2024 Appointed Outside Director, Meeck Inc. (current) Mar 2025 Appointed Director, NEWh Inc. (current) Jul 2025 Appointed Director, Global Gear Inc. Jan 2026 Appointed Representative Director, Trys Inc. (current)
1983-11-17
Yusuke HATTORI
Director
Apr 1998 Joined Intelligence Co., Ltd. (now Persol Career Co., Ltd.) Apr 2010 Appointed Director, Eiso Jinzai Fukumu (Shanghai) Co., Ltd. May 2010 Appointed Director, Intelligence Executive Search Co., Ltd. Mar 2013 Established iPiece Inc. (the Company); appointed Director (current) Dec 2018 Appointed Director, Groove Gear Inc. (now Sun terras Inc.) (current) Sep 2021 Appointed Director, Trys Inc. (now Global Gear Inc.)
1975-04-14
Makoto HIRAI
Director
Apr 2000 Joined Mitsubishi Corporation Jul 2000 Joined Intelligence Co., Ltd. (now Persol Career Co., Ltd.) Oct 2003 Appointed Director, I&G Partners Inc. (now Atrae Inc.) Nov 2010 Joined AOI Pro. Inc. Jul 2012 Established former Franzia Japan Inc. as Representative; appointed Director Dec 2017 Appointed Director of the Company (current) Feb 2026 Appointed Outside Director, Yesunderbar Pte. Ltd. (current)
1976-01-24
Makiko ISHIWATARI
Director
Apr 1995 Joined UBS Securities Japan Co., Ltd. Sep 1998 Joined LPL Japan Securities Co., Ltd. (now PWM Japan Securities Co., Ltd.) Apr 2004 Joined Hartford Life Insurance K.K. Apr 2007 Joined Fidelity Investment Trust Management Co., Ltd. Sep 2009 Head of Sales and Co-Founder, B4F Inc. Apr 2015 Appointed Representative Director, Farfetch Japan K.K. Oct 2017 Founder and Managing Director, Ignite Coaching and Consulting Pte. Ltd. Mar 2021 Appointed Outside Director, CARTA HOLDINGS, Inc. Jan 2022 Owner and Principal, Natural Leadership Coaching (business succeeded from Ignite Coaching and Consulting Pte. Ltd.) (current) Mar 2023 Appointed Outside Director of the Company (current) Feb 2026 Appointed CEO, SAIGE House LLC (current)
1972-05-21
Takeshi NIHONYANAGI
Director (Audit and Supervisory Committee Member)
Apr 2002 Joined TAC Co., Ltd. Oct 2004 Joined Azsa & Co. (now Azsa LLC) Dec 2015 Appointed Statutory Auditor, Medical Advance Inc. (current) Jun 2018 Appointed Part-time Director, Japan Cloud Capital Inc. (now FUNDINNO Inc.) Apr 2019 Appointed Full-time Director (Audit and Supervisory Committee Member) of the Company (current) Aug 2019 Appointed Statutory Auditor, Groove Gear Inc. (now Sun terras Inc.) (current) Jan 2020 Appointed Statutory Auditor, Sun Asterisk Vietnam Co., Ltd. (current) Jan 2021 Appointed Statutory Auditor, NEWh Inc. (current) Sep 2021 Appointed Statutory Auditor, Trys Inc. (now Global Gear Inc.) (current) Jul 2025 Appointed Statutory Auditor, Global Gear Inc. Jan 2026 Appointed Statutory Auditor, Trys Inc. (current) Jan 2026 Appointed Statutory Auditor, MIXSENSE Inc. (current)
1979-05-15
Toshihiro OZAWA
Director (Audit and Supervisory Committee Member)
Apr 1990 Joined NTT Data Communications Corporation (now NTT DATA Corporation) Aug 2001 Joined CIS Co., Ltd. Oct 2005 Joined Sanyo Electric Co., Ltd. Jan 2008 Joined Intelligence Co., Ltd. (now Persol Career Co., Ltd.) Dec 2008 Appointed Representative Director, Intelligence Business Solutions Co., Ltd. (now Persol Process & Technology Co., Ltd.) Jul 2011 Appointed Director and Managing Executive Officer, Intelligence Co., Ltd. (now Persol Career Co., Ltd.) Jun 2016 Appointed Director and Executive Officer, Temp Holdings Co., Ltd. (now Persol Holdings Co., Ltd.) Apr 2019 Appointed Outside Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2019 Appointed Full-time Director (Audit and Supervisory Committee Member), Persol Holdings Co., Ltd. Jul 2021 Appointed Senior Managing Executive Officer, CIO and General Manager of IT Division, Fine Today Shiseido Co., Ltd. (now Fine Today Co., Ltd.) Mar 2026 Appointed Managing Executive Officer and General Manager of IT & Digital Division, J. Front Retailing Co., Ltd.; Managing Executive Officer and General Manager of IT & Digital Division, Daimaru Matsuzakaya Department Stores Co., Ltd.; Managing Executive Officer in charge of Information Systems Promotion Department, Corporate Division, PARCO Co., Ltd. (current)
1965-04-03
Eriko ISHII
Director (Audit and Supervisory Committee Member)
Oct 2004 Joined Mori Hamada & Matsumoto Dec 2007 Seconded as Expert, Corporate Disclosure Division, Planning and Coordination Bureau, Financial Services Agency Aug 2010 Graduated LL.M., Columbia Law School Jul 2016 Partner, Shinko Sogo Law Office (current) May 2019 Supervisory Director, Canadian Solar Infrastructure Fund, Inc. (current) Jun 2019 Outside Statutory Auditor, Almado Inc. (current) Mar 2021 Outside Director, Tamron Co., Ltd. (current) Mar 2021 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Oct 2021 Statutory Auditor, SUNQA Inc. (now OPN Holdings Inc.) (current) Feb 2022 Supervisory Officer, Advance Private Investment Corporation (current) Oct 2022 Executive Director, Ichigo Hotel REIT Investment Corporation (current) Dec 2023 Outside Director (Audit and Supervisory Committee Member), SmartDrive Co., Ltd. (current)
1981-01-03
Large Shareholding Reports
Kazunari FUJIMOTO
2026-09-16
8.46%→8.24%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Kazunari FUJIMOTO
2026-08-12
8.46%→8.24%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-09-16
Change Report
EDINET
2026-09-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
EDINET
2026-08-12
Large Shareholding Report
TDnet
2026-05-15
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-25
Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-13
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnetAmended
2025-06-18
Q1 Earnings Flash
FY ending Dec 2025
TDnet
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-28
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINETAmended
2024-11-22
Amended Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-08
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-09
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-10
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-09
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-11
Quarterly Securities Report
EDINET
2022-03-31
Annual Securities Report
EDINET
2021-11-10
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-05-13
Quarterly Securities Report
EDINET
2021-03-31
Annual Securities Report
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