Overview
Information & Communication

Institution for a Global Society Corporation

IGS develops and provides AI-powered human capital assessment and education platforms for corporations and educational institutions. Its flagship products—GROW360 for enterprises and Ai GROW for schools—leverage patented AI algorithms to scientifically measure competencies, personality traits, and skills while reducing evaluative bias, with adoption across 12 of Japan's top 30 most popular employers. The company also operates Web3-related services using blockchain technology for secure personal data management and reskilling support, and has expanded internationally including to the UAE.

Market Cap
¥1.22B
US$7.79M
EV
¥0.80B
US$5.08M
Stock¥256▲+1.99%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
3.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-51.4%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Mar 17, 26Activist investor shareholder proposal
MC → EV Bridge
1.22BUS$7.79MMarket Cap0.11BUS$0.67M+ Debt0.53BUS$3.38M− Cash0.00BUS$0.00M− Inv. Sec.0.00BUS$0.00M+ NCI0.80BUS$5.08MEV
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Performance & Balance
Revenue 5Y (¥B)
0.72US$4.59M'22/30.67US$4.26M'23/30.92US$5.84M'24/30.60US$3.84M'25/30.66US$4.20M'26/3
EBITDA 5Y (¥B)
0.06US$0.39M'22/3-0.06-US$0.36M'23/3-0.02-US$0.10M'24/3-0.29-US$1.86M'25/3-0.22-US$1.43M'26/3
Net Income 5Y (¥B)
0.04US$0.28M'22/3-0.13-US$0.80M'23/3-0.02-US$0.13M'24/3-0.34-US$2.14M'25/3-0.28-US$1.79M'26/3
Capital Structure
79%
21%
EquityD/E 0.27xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.97US$6.16M'22/30.91US$5.82M'23/30.63US$4.03M'24/30.40US$2.58M'25/30.49US$3.14M0.11US$0.68M'26/3
Shareholders
Top 10 hold 53.0%
1
Masahiro FUKUHARA
11.86%
2
SBI SECURITIES Co., Ltd.
11.33%
3
Yasunori IWANAGA
6.81%
4
With us Corporation
6.08%
5
Rakuten Securities, Inc. (Joint Account)
5.99%
6
Plutus Consulting Co., Ltd.
5.24%
7
GMO CLICK Securities, Inc.
1.93%
8
Mamoru TANIYA
1.57%
9
Seiji HASHIZAKI
1.10%
10
Masahiro TSUKUDA
1.07%
Management
7 officers
Masahiro FUKUHARA
Representative Director, Chairman and CEO
Apr 1992: Joined The Tokyo Bank, Ltd. (now MUFG Bank, Ltd.) Sep 2000: Joined Barclays Global Investors Japan Ltd. (now BlackRock Japan Co., Ltd.) Jan 2006: Appointed Director, Barclays Global Investors Japan Ltd. Dec 2009: Appointed General Manager, Sales Division, Barclays Global Investors Japan Ltd. May 2010: Established the Company; appointed Representative Director, President Oct 2019: Appointed Specially Appointed Professor, Keio University (current) Apr 2020: Appointed Visiting Professor, Tokyo University of Science Apr 2021: Appointed Specially Appointed Professor, Hitotsubashi University Jun 2024: Appointed Representative Director, Chairman and CEO, the Company (current)
1970-01-21
Shinobu NAKAZATO
Representative Director, President and COO
Apr 1999: Joined Chiyoda Life Insurance Company (now Gibraltar Life Insurance Co., Ltd.) Apr 2001: Joined The R Co., Ltd. (now R&Career Co., Ltd.) Jul 2006: Joined Blue Current Japan K.K. (now Fleishman-Hillard Japan K.K.) Jul 2014: Joined All About, Inc. Jul 2015: Appointed Executive Officer, All About, Inc. Aug 2016: Joined the Company Jun 2018: Appointed Director, the Company May 2023: Appointed Director and COO, the Company Jun 2024: Appointed Representative Director, President and COO, the Company (current)
1976-11-13
Fumihito NAKAE
Director
Apr 1974: Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Apr 1996: Appointed Chairman, Tokyo Foreign Exchange Market Committee Jul 1999: Joined Standard Chartered Bank Apr 2002: Appointed Co-Head of Wholesale Banking, Tokyo Branch, and Head of Global Markets, Standard Chartered Bank Mar 2021: Appointed Outside Corporate Auditor, the Company Jun 2022: Appointed Director, the Company (current) Dec 2023: Appointed Corporate Auditor, WealthPark Inc. (current)
1950-12-21
Hiroto KODA
Director
Apr 1982: Joined The Industrial Bank of Japan, Ltd. (now Mizuho Bank, Ltd.) Apr 2016: Appointed Senior Managing Director (Representative Director), Mizuho Securities Co., Ltd. May 2016: Appointed Vice President and Director (Representative Director), Mizuho Securities Co., Ltd. Jul 2018: Appointed Distinguished Professor, Kyoto University Graduate School of Management (current) Jul 2018: Appointed Professor, SBI Graduate School (current) Jul 2018: Appointed Representative Director, President, Innovation Intelligence Research Institute Co., Ltd. (current) Jul 2018: Appointed Outside Director, Nihon Kyoso Investment Co., Ltd. (current) Sep 2018: Appointed Visiting Professor, Hitotsubashi University (current) Oct 2018: Appointed Representative Director, President, Reading Skill Test Co., Ltd. (current) Oct 2018: Appointed Outside Director, Polaris Capital Group Co., Ltd. (current) Jan 2019: Appointed Outside Director, Environment & Energy Investment Co., Ltd. (current) Dec 2019: Appointed Outside Director, Innovation Network Corporation of Japan (current) Mar 2020: Appointed Special Committee Member, CAC Holdings Corporation (current) Apr 2020: Appointed Outside Director, Clara Online, Inc. (now Clara Inc.) (current) Mar 2021: Appointed Outside Director, the Company (current) May 2022: Appointed Representative Director, General Incorporated Association IMA Value Co-Creation Research Group (current) Outside Director, New Frontier Capital Co., Ltd. (current) Outside Director, New Frontier Capital Management (HK) Co., Limited (current) Outside Director, New Frontier Capital International Co., Ltd. (current) Jul 2022: Appointed Outside Director, Arent Inc. (current) Jun 2023: Appointed Outside Director, General Incorporated Association Financial Advisors Association (now General Incorporated Association Japan Financial Product Intermediary Business Association) (current)
1959-06-08
Yutaka KANO
Full-time Corporate Auditor
Apr 1983: Joined Graphic Processing Technology Research Institute, Inc. (now Zuken Inc.) Feb 1987: Co-founded Solid Ray Research Institute, Inc.; appointed Director Apr 1994: Joined Three D Co., Ltd. Oct 1996: Appointed Director, Three D Co., Ltd. Oct 2002: Appointed Representative Director, Three D Co., Ltd. Jan 2010: Joined SoftCube Co., Ltd. Sep 2016: Appointed Director, the Company Jun 2018: Appointed Full-time Corporate Auditor, the Company (current) Apr 2023: Appointed Director, RealImage Co., Ltd. (current)
1959-09-09
Sayaka HIEDA
Corporate Auditor
Sep 2007: Registered as attorney-at-law Sep 2007: Joined Hanzomon Sogo Law Office Jan 2010: Joined Omotesando Sogo Law Office (current) Mar 2019: Appointed Outside Corporate Auditor, Tokyo Tatemono Co., Ltd. (current) Mar 2021: Appointed Outside Corporate Auditor, the Company (current) Jun 2024: Appointed Outside Corporate Auditor, San-ai Obbli Co., Ltd. (current) Feb 2025: Appointed Outside Corporate Auditor, Aohata Corporation
1978-10-22
Takeshi KOBAYASHI
Corporate Auditor
Apr 1992: Joined The Tokyo Bank, Ltd. (now MUFG Bank, Ltd.) Jan 2002: Joined Rating and Investment Information, Inc.; seconded to Financial Engineering Research Institute Co., Ltd. (now Nikkei Financial Engineering Research Institute Co., Ltd.) Jan 2006: Joined Barclays Global Investors Japan Ltd. Feb 2011: Joined Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Apr 2012: Joined NS Financial Management Consulting Co., Ltd. Apr 2014: Appointed Associate Professor, Faculty of Economics, Nagoya University of Commerce and Business Apr 2016: Appointed Professor, Business School, Nagoya University of Commerce and Business (current) Jun 2022: Appointed Outside Corporate Auditor, the Company (current)
1968-05-29
Large Shareholding Reports
SBI Securities Co., Ltd.
2026-04-06
5.45%→0.57%
Annual report (as of 2026-03-31): 11.33%
SBI Securities Co., Ltd.
2026-03-23
5.45%
Annual report (as of 2026-03-31): 11.33%
Plutus Consulting Co., Ltd.
2025-12-05
9.14%
Annual report (as of 2026-03-31): 5.24%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-13
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-06
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-05
Large Shareholding Report
EDINET
2025-11-14
Securities Registration Statement
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-14
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-13
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINETAmended
2022-07-04
Amended Annual Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
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