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VALTES HOLDINGS CO.,LTD.

Valtes Holdings is a total quality support company specializing in software testing and quality assurance services across all stages of the software development lifecycle, from requirements definition through user acceptance testing. The company serves a broad range of industries including banking, automotive, healthcare, retail, and SaaS, offering software testing, quality consulting, security/vulnerability assessment, web and mobile app development, and offshore testing and development. Its competitive strengths lie in proprietary testing tools (T-DASH, QualityTracker, AnyTest, TestScape), ISO/IEC/IEEE 29119-compliant delivery, and accumulated domain expertise spanning enterprise, web/mobile, embedded, and IoT systems.

Market Cap

¥9.49B

US$60.5M

¥8.38B

US$53.5M

Stock¥479▼-11.95%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

9.1

LTM EV/EBIT

10.3

LTM PER

22.9

LTM PBR

2.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-17.2%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

72%

28%

EquityD/E 0.40xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 62.3%

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

Masashi TANAKA

40.76%

Polyaf Co., Ltd.

8.48%

VALTES HOLDINGS CO.,LTD. Employee Stock Ownership Association

6.63%

Masatsugu OZONO

1.88%

Makoto TSUNODA

1.10%

Sumitomo Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)

0.91%

YMT LLC

0.79%

Kei KITAGUCHI

0.76%

Takeshi KOKUBO

0.49%

Yuichi TAKEMURA

0.46%

Management

7 officers

Masashi TANAKA

Representative Director, Chairman and President

Apr 1980 Joined World Business Center Co., Ltd. Apr 1985 Joined Techno Media Complex Co., Ltd. Apr 1987 Joined Graffiti Systems Inc.; Director Mar 1990 Established With Soft Co., Ltd.; Representative Director Nov 1995 Established Artist Co., Ltd.; Representative Director Nov 1999 Established Apcom Co., Ltd.; Representative Director Apr 2004 Established the Company; Representative Director, President Oct 2012 Established Valtes Mobile Technology Co., Ltd. (now Valtes Innovations Co., Ltd.); Representative Director, President Feb 2014 Established VALTES Advanced Technology, Inc.; President May 2020 VALTES Advanced Technology, Inc.; Director Aug 2020 R.S.R. Co., Ltd.; Director Apr 2021 Valtes Mobile Technology Co., Ltd. (now Valtes Innovations Co., Ltd.); Representative Director, Chairman Apr 2022 Mint Co., Ltd.; Representative Director, President (current) Apr 2023 Shinfor Co., Ltd.; Director (current) Apr 2023 Established Valtes Spin-off Preparation Co., Ltd. (now Valtes Co., Ltd.); Representative Director, President Oct 2023 the Company; Representative Director, Chairman and President (current) Oct 2023 Valtes Co., Ltd.; Representative Director, Chairman and President Nov 2024 Tabula Co., Ltd.; Director (current) Jun 2025 Valtes Co., Ltd.; Representative Director, Chairman (current)

1962-03-20

Yuichi NISHIMURA

Director

Apr 1997 Joined Shin-Hankyu Hotel Co., Ltd. (now Hankyu Hanshin Hotels Co., Ltd.) Dec 2004 Joined Adecco Co., Ltd. Feb 2006 Joined the Company Apr 2008 the Company; General Manager, Software Testing Department Oct 2010 the Company; Director (current) Feb 2014 VALTES Advanced Technology, Inc.; Director Jul 2014 Valtes Mobile Technology Co., Ltd. (now Valtes Innovations Co., Ltd.); Director (current) Nov 2015 VALTES Advanced Technology, Inc.; Director, resigned Apr 2018 the Company; General Manager, Marketing Department Apr 2020 the Company; General Manager, Corporate Branding Division May 2020 the Company; General Manager, Administration Division May 2020 VALTES Advanced Technology, Inc.; Director (current) Apr 2021 Valtes Mobile Technology Co., Ltd. (now Valtes Innovations Co., Ltd.); Representative Director, President Apr 2021 R.S.R. Co., Ltd.; Representative Director, President (current) Apr 2022 Mint Co., Ltd.; Director (current) Apr 2023 Shinfor Co., Ltd.; Director (current) Jun 2023 Valtes Mobile Technology Co., Ltd. (now Valtes Innovations Co., Ltd.); Representative Director, President, resigned Nov 2023 Fairness Consulting Co., Ltd.; Representative Director

1978-12-30

Yuki AKAI

Outside Director

Aug 1996 Joined Daiwa House Industry Co., Ltd. Oct 2007 Joined Trend Micro Inc. Jan 2012 Trend Micro Inc.; Executive Officer Sep 2015 Joined Salesforce Japan Co., Ltd.; Managing Executive Officer Feb 2019 Joined Vina Energy Japan K.K.; Chief Financial Officer Aug 2022 Joined Nauto Japan LLC; Representative Executive Officer, President (current) Jun 2023 the Company; Outside Director (current)

1969-10-09

Seiji TAKANO

Outside Director

Apr 1990 Joined Nomura Research Institute, Ltd. Apr 2001 Nomura Research Institute, Ltd.; General Manager, Preparatory Office for Patent Information Service Company Jul 2001 Joined NRI Cyber Patent Co., Ltd.; Representative Director, President Aug 2021 Cyber Patent Inc.; Director, Chairman Jan 2022 Seiji Takano Patent Office opened (current) Jun 2023 the Company; Outside Director (current) Oct 2025 Shisan Soken Co., Ltd.; Director, Vice Chairman (current)

1964-05-28

Toshihiko YASUNAKA

Outside Director, Audit and Supervisory Committee Member

Apr 1980 Joined Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Apr 2008 MUFG Bank, Ltd.; Branch Manager, Kawaramachi Branch Mar 2010 Joined Tokuyama Corporation; General Manager, Legal Department Apr 2016 Tokuyama Corporation; Managing Executive Officer, in charge of Purchasing and Logistics Apr 2020 Tokuyama Kairiku Unso Co., Ltd.; Representative Director, Chairman Jan 2021 Tokuyama Kairiku Unso Co., Ltd.; President Jun 2023 the Company; Outside Director, Audit and Supervisory Committee Member (current) Apr 2026 Tokuyama Rikukai Unso Co., Ltd.; Advisor (current) Kanechika Kaisoten Co., Ltd.; Representative Director, Chairman (current)

1956-09-09

Nobuhiro FUNAKUSHI

Outside Director, Audit and Supervisory Committee Member

Apr 1999 Registered as attorney-at-law; joined Toda & Tsuchida Law Office (now Toda Sogo Law Office) Feb 2000 Joined Haruki, Sawai & Inoue Law Office (now Tokyo Marunouchi Law Office) Jun 2014 Joined Open Door Inc.; General Manager, Legal Department Feb 2016 Opened Funakushi Sogo Law Office (later renamed Funakushi & Morimoto Law Office) Mar 2020 I-ne Co., Ltd.; Outside Audit and Supervisory Board Member Sep 2021 Joined Law Office Archien Mar 2022 I-ne Co., Ltd.; Outside Director, Audit and Supervisory Committee Member Jun 2022 the Company; Outside Audit and Supervisory Board Member Jun 2023 the Company; Outside Director, Audit and Supervisory Committee Member (current) Sep 2023 Joined Sou Sato Law Office (current)

1971-09-03

Kazumi YOSHIKAWA

Outside Director, Audit and Supervisory Committee Member

Dec 1995 Joined Chuo Audit Corporation May 1999 Registered as Certified Public Accountant Apr 2002 Registered as Certified Tax Accountant Aug 2007 Joined Deloitte Tohmatsu Audit (now Deloitte Touche Tohmatsu LLC) Dec 2019 Joined Sakanotochu Inc. Dec 2019 Opened Kazumi Yoshikawa CPA Office; Head (current) Sep 2020 Sakanotochu Inc.; Director Jun 2022 the Company; Outside Audit and Supervisory Board Member Sep 2022 Ubie Inc.; Audit and Supervisory Board Member Jun 2023 Joshin Denki Co., Ltd. (now Joshin Co., Ltd.); Outside Audit and Supervisory Board Member Jun 2023 the Company; Outside Director, Audit and Supervisory Committee Member (current) Jun 2025 Joshin Co., Ltd.; Outside Director, Audit and Supervisory Committee Member (current)

1971-08-16

Large Shareholding Reports

Masafumi TANAKA

2026-01-08

39.96%→37.63%

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