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Overview

Information & Communication

EduLab,Inc.

EduLab is a holding company that develops and provides educational assessment and AI-powered services through five business segments: Test Licensing (including English proficiency tests CASEC and Eiken Jr.), AI Solutions (AI-OCR 'DEEP READ' and AI auto-scoring 'DEEP GRADE'), Test Operation & Outsourcing, Test Center operations (approximately 40 locations across 28 prefectures nationwide via CBT), and Other services. The company's primary customers include public institutions such as the Ministry of Education, local governments, universities, corporations, and educational organizations. EduLab leverages proprietary measurement technologies including IRT (Item Response Theory) and CAT (Computerized Adaptive Testing), combined with AI, to deliver high-quality testing and learning solutions both domestically and globally.

Market Cap

¥2.01B

US$12.8M

¥1.28B

US$8.18M

Stock¥197▲+0.00%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

3.9

LTM EV/EBIT

2.7

LTM PER

LTM PBR

1.5

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-63.4%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Mar 23, 26Market-wide: March 23rd market decline impact

2Mar 25, 26Stock rise from strong Q1 2026 performance

3Aug 17, 26Q3 FY2026/09 earnings announced

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

76%

24%

EquityD/E 0.32xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 57.8%

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

ZE1 Co., Ltd.

29.43%

Obunsha Co., Ltd.

5.16%

Junichi TAKAMURA

4.74%

Hiroshi MATSUDA

4.72%

Nobuhiko SEKI

3.18%

Zoshinkai Holdings Co., Ltd.

3.05%

Obunsha Capital Co., Ltd.

2.63%

Susumu SOGA

1.89%

SBI SECURITIES Co., Ltd.

1.52%

Tomoaki HIRATA

1.47%

Management

7 officers

Manabu HIROMI

Representative Director, President and CEO

Apr 1997 Joined The Tokyo-Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.) Nov 2019 Joined the Company; Executive Officer, Financial Planning Division Dec 2019 Director, Edutech Lab AP Private Limited Jan 2020 Executive Officer and General Manager, Financial Planning Division of the Company Mar 2020 Director, Kyoiku Digital Solutions Co., Ltd. Jul 2020 Director, Obunsha EduLab EDGe School Co., Ltd. Dec 2020 Director and General Manager, Financial Planning Division of the Company Dec 2020 Director, Japan Institute of Educational Measurement, Inc. (current) Dec 2021 Representative Director, President and CEO of the Company (current) Dec 2021 Representative Director, Japan Institute of Educational Measurement, Inc. Dec 2023 Director, Success Space Co., Ltd. (current) Dec 2023 Director, System Support & Consulting Co., Ltd. (current) Jan 2024 Director/CEO and Chairman of the Board, Edutech Lab, Inc. (current) Feb 2024 Director, JIEM INDIA PRIVATE LIMITED (current)

1973-09-27

Noriko NISHIDA

Director

Apr 2001 Joined Celego Japan K.K. Jul 2016 Joined Japan Institute of Educational Measurement, Inc. Jan 2020 Executive Officer; General Manager, R&D Division and General Manager, Development Department 1, Japan Institute of Educational Measurement, Inc. Feb 2020 Director, Japan Institute of Educational Measurement, Inc. Jan 2021 Director, Edutech Lab, Inc. (current) Jan 2022 Representative Director, President, Japan Institute of Educational Measurement, Inc. (current) Dec 2022 Director of the Company (current) Feb 2024 Director, JIEM INDIA PRIVATE LIMITED (current)

1975-01-07

Haruo KAWASE

Director and CFO

Apr 1990 Joined The Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Aug 2007 Joined Yamashina Co., Ltd. (now Y's Holdings Co., Ltd.) Jun 2008 Director; General Manager, Administration Division, Yamashina Co., Ltd. Jul 2009 Joined Himiko Co., Ltd. Jun 2011 Director, Himiko Co., Ltd. Nov 2017 Joined Astalire Co., Ltd.; Executive Officer and General Manager, Administration Department Oct 2020 Joined Fuji Chemical Industries Co., Ltd. (transferred); Executive Officer and General Manager, Corporate Planning Office Dec 2021 Director and General Manager, Administration Department, Astalire Co., Ltd. Apr 2022 Executive Officer and General Manager, Planning Division, Fuji Chemical Industries Co., Ltd. Dec 2022 Joined the Company; Director of the Company (current) Dec 2022 Director/CFO, Edutech Lab, Inc. (current) Jun 2023 Director, Edutech Lab AP Limited. Sep 2023 Director, Edutech Lab AP Private Limited. (current) Nov 2023 Director, JIEM INDIA PRIVATE LIMITED (current) Dec 2023 Director, Japan Institute of Educational Measurement, Inc. (current) Dec 2023 Director, Success Space Co., Ltd. (current) Dec 2023 Director, System Support & Consulting Co., Ltd. (current) Jul 2024 Director, EdTech RISE Co., Ltd. (current)

1964-05-02

Hideo NAKURA

Director

Apr 1989 Joined The Tokyo Bank, Ltd. (now MUFG Bank, Ltd.) Sep 2006 Joined UBS Securities Japan Co., Ltd. Mar 2012 General Manager, M&A Financial Sponsor Department, Investment Banking Division, UBS Securities Japan Co., Ltd. Dec 2013 Joined GCA Savvian Corporation; Managing Director Aug 2016 Chairman, Kowakai Medical Corporation (current) Mar 2020 Partner, PwC Advisory LLC Jan 2021 Member of the Board of Trustees, Yamamura Shosho Scholarship Foundation (current) Apr 2021 Private Equity Leader, PwC Japan Group Jul 2024 Special Advisor, PwC Advisory LLC (current) Dec 2024 Director of the Company (current)

1964-05-26

Satoshi IZUMIYA

Director (Full-time Audit and Supervisory Committee Member)

Apr 1987 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) May 2019 Deputy General Manager, Internal Audit Department, Mitsui Ocean Development & Engineering Co., Ltd. Oct 2020 Joined Nippon Express Co., Ltd. Dec 2022 Director (Audit and Supervisory Committee Member) of the Company (current) Dec 2022 Audit & Supervisory Board Member, Japan Institute of Educational Measurement, Inc. (current) Dec 2023 Audit & Supervisory Board Member, Success Space Co., Ltd. (current) Dec 2023 Audit & Supervisory Board Member, System Support & Consulting Co., Ltd. (current) Jul 2024 Audit & Supervisory Board Member, EdTech RISE Co., Ltd. (current)

1965-03-11

Megumi SHIMIZU

Director (Audit and Supervisory Committee Member)

Mar 1993 Completed Legal Training Institute Apr 1993 Joined Nishimura Shinda Law Office (until Mar 1995) Apr 1999 Rejoined Nishimura Sogo Law Office Jan 2004 Partner Attorney, Nishimura Tokiwa Law Office (now Nishimura & Asahi) (current) Jun 2005 Graduated, Harvard Law School (LL.M.) Sep 2005 Worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP (until Mar 2006) Dec 2015 Outside Audit & Supervisory Board Member (part-time), the Company Mar 2018 Outside Audit & Supervisory Board Member (part-time), The Yokohama Rubber Co., Ltd. Dec 2022 Director (Audit and Supervisory Committee Member) of the Company (current) Mar 2023 Outside Director (part-time), The Yokohama Rubber Co., Ltd. (current)

1968-07-22

Miki KOSHIBA

Director (Audit and Supervisory Committee Member)

Oct 1993 Joined Asahi & Co. (now Azusa Audit LLC) Apr 1998 Registered as Certified Public Accountant Sep 2017 Joined Karukozaka Partners Co., Ltd. Jun 2018 Outside Director (Audit and Supervisory Committee Member), Yushiro Chemical Industry Co., Ltd. (now Yushiro Co., Ltd.) Oct 2018 Head, Koshiba Certified Public Accountant Office (current) Dec 2018 Outside Audit & Supervisory Board Member (part-time), the Company Dec 2022 Director (Audit and Supervisory Committee Member) of the Company (current)

1968-01-01

Large Shareholding Reports

No filings

Disclosures

Executive Change

2026-08-28

EduLab,Inc.

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EduLab,Inc.

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