Overview
Information & Communication

LANCERS,INC.

Lancers, Inc. operates Japan's leading freelance talent platform connecting companies with professional freelancers ("Lancers") across IT, creative, consulting, and business process domains. The company offers two core service models: self-matching via its online marketplace platform "Lancers," and agent-matching through curated placement services including Lancers Tech Agent and Lancers Professional Agent for engineers, designers, and consultants. Beyond its platform business, the group has expanded into strategic consulting, AI solution implementation, system development, and individual skill-up/reskilling services, positioning itself as a comprehensive business transformation partner for enterprises of all sizes.

Market Cap
¥4.46B
US$28.4M
EV
¥2.91B
US$18.5M
Stock¥280▼-1.75%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.5
x
LTM EV/EBIT
12.4
x
LTM PER
45.9
x
LTM PBR
3.4
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-29.5%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jan 28, 26Decline from quarterly earnings
MC → EV Bridge
4.46BUS$28.4MMarket Cap0.45BUS$2.84M+ Debt1.99BUS$12.7M− Cash0.00BUS$0.00M− Inv. Sec.2.91BUS$18.5MEV
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Performance & Balance
Revenue 5Y (¥B)
4.07US$26.0M'22/34.81US$30.7M'23/34.57US$29.2M'24/34.59US$29.3M'25/35.44US$34.7M'26/3
EBITDA 5Y (¥B)
-0.34-US$2.17M'22/3-0.18-US$1.12M'23/30.18US$1.15M'24/30.22US$1.41M'25/30.31US$1.97M'26/3
Net Income 5Y (¥B)
-0.67-US$4.29M'22/3-0.24-US$1.52M'23/30.11US$0.71M'24/30.18US$1.12M'25/30.09US$0.58M'26/3
Capital Structure
75%
25%
EquityD/E 0.34xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.60US$10.2M'22/31.30US$8.26M0.42US$2.65M'23/31.88US$12.0M0.36US$2.31M'24/31.73US$11.0M0.29US$1.87M'25/32.09US$13.3M0.49US$3.13M'26/3
Shareholders
Top 10 hold 60.2%
1
Yosuke AKIYOSHI
45.96%
2
PERSOL HOLDINGS CO.,LTD.
4.66%
3
MARUI GROUP CO.,LTD.
2.40%
4
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
1.95%
5
Keiko MIZUTANI
1.02%
6
National Association for Supporting Individual Business Owners Co., Ltd.
1.01%
7
SBI Shinsei Bank,Limited
1.00%
8
Soya TAKEUCHI
0.80%
9
Bold Investment Co., Ltd.
0.73%
10
GMO CLICK Securities, Inc.
0.64%
Management
8 officers
Yosuke AKIYOSHI
Representative Director, President and CEO
Apr 2005 Joined Nifty Corporation Apr 2008 Established Reet Inc. (currently the Company) Apr 2008 Representative Director, President of the Company Jul 2015 Representative Director, Passionate Regional Revitalization Venture Alliance Feb 2018 Director, Lancers Agency Inc. Apr 2022 Representative Director, President and Executive Officer of the Company Jun 2022 Director, Work Style Lab Inc. Mar 2023 Representative Director, President and CEO of the Company (current) May 2025 Director, Lancers Strategic Consulting Inc. (current)
1981-01-22
Nobuhiko GOTO
Director and Executive Officer
Apr 1996 Joined FUJIFILM Corporation Apr 2001 Joined Nifty Corporation Apr 2017 Director and Executive Officer of the same company Apr 2018 Joined the Company as Executive Officer Feb 2019 Director and Executive Officer of the Company Apr 2019 Director, Lancers Agency Inc. Jun 2020 Executive Officer of the Company Jun 2022 Director, Work Style Lab Inc. Jun 2024 Director and Executive Officer of the Company (current) May 2025 Director, Lancers Strategic Consulting Inc. (current) Aug 2025 Representative Director, Lancers One's Solution Inc. (current)
1972-12-06
Ryoichi UENO
Director and Executive Officer
Jan 2014 Joined the Company May 2020 General Manager, Online Matching Business Division and Executive Officer of the Company Nov 2020 Director, MENTA Inc. Apr 2021 General Manager, Marketplace Business Division and Executive Officer of the Company Jun 2024 Director and Executive Officer of the Company (current) Oct 2025 Director, Crowdsourcing Certification Association (General Incorporated Association) (current)
1989-05-15
Takeyuki KATO
Director
Apr 1998 Joined Intelligence Co., Ltd. (currently Persol Career Co., Ltd.) Nov 2015 Seconded to Temp Innovation Fund LLC (currently Persol Venture Partners LLC) as Representative Partner (current) Oct 2016 Transferred to Temp Holdings Co., Ltd. (currently Persol Holdings Co., Ltd.) Feb 2018 Outside Director of the Company (current)
1976-02-08
Shin MURAKAMI
Outside Director
Apr 1999 Joined Nomura Research Institute, Ltd. Aug 2000 Joined Yahoo Japan Corporation (currently LY Corporation) Apr 2012 Executive Officer of the same company Jun 2014 Director, Y!mobile Corporation Nov 2017 Japan Country Head, LinkedIn Japan K.K. Nov 2017 Representative Director, Shin & Co., Ltd. (current) Apr 2021 Visiting Professor, Faculty of Entrepreneurship, Musashino University (current) Mar 2022 Outside Director, POPINS Inc. (current) Apr 2022 General Manager, Search, Google LLC (current) Jun 2022 Outside Director of the Company (current) Nov 2024 Vice President, Japan Product, SmartNews, Inc. (current)
1977-02-26
Mirai MURAKAMI
Director, Audit and Supervisory Committee Member
Oct 2000 Joined Chuo Aoyama PricewaterhouseCoopers (formerly Chuo Aoyama Audit Corporation) Jun 2004 Registered as Certified Public Accountant Nov 2006 Joined UBS Securities Co., Ltd. (Investment Banking Division) Nov 2009 Joined KPMG Healthcare Japan Co., Ltd. Nov 2012 Joined Uzabase, Inc. Mar 2013 Managing Executive Officer in charge of Administration, Uzabase, Inc. Jan 2018 Senior Executive Officer and CFO in charge of Management, Finance and Planning, Uzabase, Inc. Apr 2019 Representative Director, somebuddy Inc. (current) May 2019 Outside Director, Bridge C Capital Co., Ltd. (currently CREAL Inc.) (current) Jul 2019 Outside Audit & Supervisory Board Member, INCLUSIVE Inc. (currently INCLUSIVE Holdings Inc.) (current) Dec 2020 Outside Director (Audit and Supervisory Committee Member), Euglena Co., Ltd. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1977-06-19
Toru NAGASAWA
Director, Audit and Supervisory Committee Member
Apr 1984 Registered as Attorney-at-Law Apr 1984 Joined Kajitani Law Office Apr 1995 Established Nagasawa Law Office, Representative Attorney (current) Sep 2007 Audit & Supervisory Board Member, GREE, Inc. Oct 2014 Audit & Supervisory Board Member of the Company Oct 2016 Outside Director, Mebuki Financial Group, Inc. (current) Jun 2022 Outside Director, Weins Toyota Kanagawa Co., Ltd. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1959-01-15
Noriatsu FURUKAWA
Director, Audit and Supervisory Committee Member
Apr 2007 Joined McKinsey & Company, Inc. Japan Jul 2010 Joined Advantage Partners, L.P. (currently Advantage Partners Co., Ltd.) Dec 2014 Outside Director, Pixela Corporation Jan 2018 Seconded to Advantage Advisers Co., Ltd. as Director Jun 2019 Outside Director, E-Store Inc. Oct 2019 Outside Director, Hiramatsu Inc. Mar 2020 Outside Director, Arkland Service Holdings Co., Ltd. Jun 2020 Outside Director, Japan Power Fastening Co., Ltd. Jun 2020 Director and Partner, Advantage Advisers Co., Ltd. Sep 2022 Representative Director, Growth Partners Co., Ltd. (current) Jan 2023 Outside Director, Pro-Red Partners Co., Ltd. (current) Feb 2023 Outside Director, GRCS Inc. May 2024 Outside Director (Audit and Supervisory Committee Member), Takakyu Co., Ltd. (current) Jun 2024 Outside Director, JINDINROU Inc. (current) Jun 2024 Outside Director of the Company Sep 2024 Outside Director, MV Holdings Inc. (current) Nov 2024 Outside Director, Merveille Inc. (current) Nov 2024 Outside Director, MV Marketing Inc. (current) Nov 2024 Outside Director, United Values Inc. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1981-05-01
Large Shareholding Reports
SBI Securities Co., Ltd.
2025-08-07
5.44%→3.77%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-14
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-13
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-08-07
Large Shareholding Report
EDINET
2025-06-30
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
2024-08-14
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-07-01
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINETAmended
2024-02-15
Amended Securities Registration Statement
EDINET
2024-02-13
Securities Registration Statement
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
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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