Overview
Information & Communication

Makuake,Inc.

Makuake operates 'Makuake,' Japan's leading crowdfunding and pre-commerce platform that connects entrepreneurs and businesses launching new products or services with consumers who support and pre-purchase those offerings. The platform provides curated consulting support to project creators, charges success-based fees from both project creators and supporters, and offers ancillary services including Makuake Incubation Studio (new product development support for corporates), advertising agency services, and Makuake STORE (post-campaign EC distribution across major platforms such as Rakuten, Yahoo! Shopping, and TikTok Shop). The company differentiates itself through dedicated curator consultants assigned to every project, a proprietary quality screening system, and a proprietary consumer behavioral dataset tied to new product purchases.

Market Cap
¥11.8B
US$75.5M
EV
¥6.38B
US$40.7M
Stock¥929▼-3.93%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.9
x
LTM EV/EBIT
7.3
x
LTM PER
16.8
x
LTM PBR
2.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-23.0%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jul 29, 26Q3 FY2026/09 earnings announced
MC → EV Bridge
11.8BUS$75.5MMarket Cap0.00BUS$0.00M+ Debt5.46BUS$34.8M− Cash0.00BUS$0.00M− Inv. Sec.6.38BUS$40.7MEV
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Performance & Balance
Revenue 5Y (¥B)
4.62US$29.5M'21/94.21US$26.8M'22/93.81US$24.3M'23/93.65US$23.3M'24/94.58US$29.2M'25/9
EBITDA 5Y (¥B)
0.43US$2.73M'21/9-0.17-US$1.06M'22/9-0.46-US$2.94M'23/90.06US$0.36M'24/90.62US$3.98M'25/9
Net Income 5Y (¥B)
0.25US$1.57M'21/9-1.35-US$8.59M'22/9-0.49-US$3.13M'23/9-0.10-US$0.66M'24/90.41US$2.60M'25/9
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
6.09US$38.8M'21/95.35US$34.1M'22/94.28US$27.3M'23/94.01US$25.6M'24/94.66US$29.7M'25/9
Shareholders
Top 10 hold 69.8%
1
CyberAgent,Inc.
50.87%
2
Ryotaro NAKAYAMA
3.49%
3
Custody Bank of Japan, Ltd. (Trust Account)
2.29%
4
SBI SECURITIES Co., Ltd.
2.14%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
2.11%
6
Fumiaki KIUCHI
2.01%
7
Ueda Yagi Tanshi Co., Ltd.
1.96%
8
Kana HASEGAWA
1.86%
9
KSK ANGEL FUND, LLC (Standing Proxy: Daiwa Securities Co. Ltd.)
1.79%
10
Chiaki HIRATA
1.32%
Management
7 officers
Ryotaro NAKAYAMA
Representative Director, President
Apr 2006 Joined CyberAgent, Inc. Oct 2010 Seconded to CyberAgent Ventures, Inc. May 2013 Representative Director, President of the Company (current) Jun 2018 Director, Venture-Type Business Succession Association (General Incorporated Association) (current)
1982-04-11
Fumiaki KIUCHI
Representative Director
Apr 2002 Joined Recruit Staffing Co., Ltd. Oct 2007 Joined Innovation Inc. Jan 2009 Joined CyberAgent, Inc. May 2013 Director of the Company Apr 2023 Director, Japan Association of Corporate Executives (Keizai Doyukai) (current) Dec 2024 Representative Director of the Company (current)
1979-02-19
Go NAKAYAMA
Director
Apr 1998 Joined Sumitomo Corporation Aug 1999 Joined CyberAgent, Inc. Dec 2003 Director, CyberAgent, Inc. Apr 2006 Managing Director, CyberAgent, Inc. Jul 2015 Director of the Company (current) Oct 2020 Director, Senior Managing Executive Officer, CyberAgent, Inc. (current) Jul 2021 Director, REALGATE Inc. (current)
1975-11-02
Hisashi KATSUYA
Outside Director
Apr 1985 Joined IBM Japan, Ltd. Apr 2000 Partner and Japan Representative, IBM Venture Capital Group Aug 2010 Founded Hisashi Katsuya Office, Representative (current) Oct 2010 Outside Director, Questetra, Inc. (current) Nov 2012 Visiting Professor, Business Breakthrough University (current) Mar 2014 Outside Director, Akatsuki Inc. (current) May 2014 Director, Fukuoka Ruby/Content Business Revitalization Council (now Fukuoka Future IT Initiative Board) (current) Mar 2018 Outside Director of the Company (current) Apr 2018 Outside Director, A-Zero Inc. (now A-Zero Group Inc.) (current) Dec 2023 Outside Director, Geofla Inc. (current)
1962-04-11
Chiaki ASHIDA
Outside Director, Audit and Supervisory Committee Member
Apr 1990 Joined Sumitomo Trust & Banking Co., Ltd. (now Sumitomo Mitsui Trust Bank, Limited) Oct 2000 Joined Chuo Aoyama Audit Corporation Aug 2007 Joined Shin Nihon & Co. (now EY Shinnihon LLC) Dec 2007 Registered as Certified Public Accountant Nov 2020 Full-time Audit & Supervisory Board Member, Sitevisit Inc. (now freee Sign Inc.) May 2021 Audit & Supervisory Board Member, Delta Inc. Dec 2022 Outside Director, Audit and Supervisory Committee Member of the Company (current)
1967-09-23
Noriaki KUSHIDA
Outside Director, Audit and Supervisory Committee Member
Oct 2004 Joined CA Mobile Inc. (now CAM Inc.) Dec 2014 Registered as attorney-at-law; joined Kato, Nishida & Hasegawa Law Office Feb 2017 Representative, Startline Law Office (current) Apr 2017 Outside Audit & Supervisory Board Member of the Company Oct 2018 Outside Audit & Supervisory Board Member, Tokyo Tsushin-sha Inc. (now Tokyo Tsushin Group Inc.) Dec 2020 Outside Director, Audit and Supervisory Committee Member of the Company (current) Mar 2022 Outside Director, Audit and Supervisory Committee Member, Tokyo Tsushin Group Inc. (current)
1975-11-11
Haruki OYAMA
Outside Director, Audit and Supervisory Committee Member
Apr 2001 Joined Yanase Co., Ltd. Dec 2005 Joined Deloitte Touche Tohmatsu LLC Jan 2014 Representative, Oyama Sogo Accounting Office (current) Jun 2014 Outside Audit & Supervisory Board Member, United & Collective Inc. Apr 2017 Outside Audit & Supervisory Board Member of the Company Oct 2018 Audit & Supervisory Board Member, Identity Inc. Dec 2018 Audit & Supervisory Board Member, Hanamaru Co., Ltd. Dec 2020 Outside Director, Audit and Supervisory Committee Member of the Company (current) Dec 2023 Representative Director, oy&co. Inc. May 2025 Audit & Supervisory Board Member, Gimmick Inc. (current)
1978-09-29
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-28
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-04-30
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
TDnet
2026-01-27
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-10
Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-07-29
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-04-23
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-01-28
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-13
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-04-24
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-01-31
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-08
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-07-26
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-04-26
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-01-25
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-09
Annual Securities Report
EDINET
2022-07-27
Quarterly Securities Report
EDINET
2022-04-27
Quarterly Securities Report
EDINET
2022-01-26
Quarterly Securities Report
EDINET
2021-12-10
Annual Securities Report
EDINET
2021-07-28
Quarterly Securities Report
EDINET
2021-04-21
Quarterly Securities Report
EDINET
2021-01-27
Quarterly Securities Report
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