Overview
Information & Communication

Monstarlab Inc.

Monstarlab is a global digital transformation partner that provides end-to-end DX consulting services to large enterprises and municipalities, encompassing digital strategy, UX/UI design, system development, AI integration, and data analytics. The company operates across 12 countries and regions, leveraging a revenue center / delivery center model to combine high-quality consulting in Japan, the US, and Singapore with cost-competitive engineering hubs in Vietnam, the Philippines, and Colombia. In addition to its core consulting business, the company offers SaaS products including 'Monster Channel' (a store BGM streaming service) and 'RAX' (an RPA software solution targeting SMEs and local governments).

Market Cap
¥4.79B
US$30.5M
EV
¥6.20B
US$39.5M
Stock¥74▲+1.37%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
7.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-78.5%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 17, 25Strong quarterly earnings
2Aug 17, 26Q2 FY2026/12 earnings announced
MC → EV Bridge
4.79BUS$30.5MMarket Cap5.85BUS$37.3M+ Debt3.67BUS$23.4M− Cash1.98BUS$12.6M− Inv. Sec.1.21BUS$7.73M+ NCI6.20BUS$39.5MEV
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Performance & Balance
Revenue 5Y (¥B)
9.35US$59.6M'21/1213.3US$85.1M'23/1210.0US$63.8M'24/127.80US$49.7M'25/12
EBITDA 5Y (¥B)
-2.67-US$17.1M'21/12-1.62-US$10.3M'23/12-9.93-US$63.3M'24/12-0.04-US$0.26M'25/12
Net Income 5Y (¥B)
-3.05-US$19.5M'21/12-2.36-US$15.0M'23/12-9.95-US$63.4M'24/12-0.34-US$2.15M'25/12
Capital Structure
90%
EquityD/E 8.86xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
4.24US$27.1M4.48US$28.6M'21/121.78US$11.4M7.87US$50.2M'23/121.55US$9.89M9.57US$61.0M'24/123.96US$25.2M6.13US$39.1M'25/12
Shareholders
Top 10 hold 55.9%
1
The San-in Godo Bank,Ltd.
33.70%
2
JIC Venture Growth Fund No.1 Investment Limited Partnership
6.98%
3
Hiroki INAGAWA
5.60%
4
Rakuten Securities, Inc.
3.47%
5
Japan Post Capital Co., Ltd.
1.57%
6
Tomoyuki ARAI
1.22%
7
SBI SECURITIES Co., Ltd.
1.04%
8
Masayuki TONEZAWA
0.96%
9
Norifumi MATSUMOTO
0.71%
10
The San-in Godo Bank,Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
0.69%
Management
6 officers
Hiroki IKAWA
Representative Director, President
Jun 1999 Joined PricewaterhouseCoopers Consultants Co., Ltd. Nov 2000 Joined EC One, Inc. Feb 2005 Joined Monitor Group Japan K.K. Feb 2006 Founded the Company; Representative Director, President (current) Jul 2021 Director, Monstarlab Co., Ltd. Aug 2023 Representative Director, President, Monstarlab Co., Ltd.
1975-03-06
Masahiko MATSUNAGA
Director
Apr 1982 Joined Joho Gijutsu Kaihatsu Co., Ltd. Jul 2010 Head of Offshore Promotion Division and Executive Officer, Joho Gijutsu Kaihatsu Co., Ltd. Apr 2011 Senior Managing Director, TDI System Service Co., Ltd. Apr 2012 CEO, LIFETIME technologies Co., LTD. Mar 2017 Director, the Company (current); Representative, Monstarlab Viet Nam Co., Ltd. (current) Mar 2023 Director, Monstarlab Co., Ltd.
1959-11-12
Tomoyuki UNO
Director
Apr 2003 Joined Fuji Soft Inc. Jan 2015 Joined the Company Jul 2024 Director, Monstarlab Co., Ltd. Mar 2025 Director, the Company
1980-02-04
Yoichi KURASHIMA
Director (Full-time Audit and Supervisory Committee Member)
Jan 1999 Founded Schema Architectural Planning; Representative Director Jan 2001 Joined A.C.O. Co., Ltd. Jan 2003 Representative Director, A.C.O. Co., Ltd. Jan 2008 Director, goomo Inc. Dec 2022 Resigned as Representative Director, A.C.O. Co., Ltd. Mar 2025 Director (Audit and Supervisory Committee Member), the Company
1972-10-20
Nobuhiro ASADA
Director (Audit and Supervisory Committee Member)
Apr 1990 Joined Izumo Credit Cooperative Apr 2000 Joined BIG Group Co., Ltd. May 2001 Established F-Tech Inc. Dec 2011 Established Biz Design Plus Co., Ltd.; assumed position of Director Jan 2018 Left Provizmo Co., Ltd. (formerly F-Tech Inc.) Nov 2018 Established Glassmile Inc. Nov 2018 Established Relationship Co., Ltd.; Representative Director (current) Jul 2020 Advisor, Monster Lab Co., Ltd. Sep 2020 Director, Monstarlab Omnibus Co., Ltd. Oct 2021 Advisor, FISM Co., Ltd. (current) Jun 2022 Advisor, GRA Inc. (current) Jul 2022 Advisor, KSE Co., Ltd. Apr 2023 Advisor, COTEN Co., Ltd. (current) May 2023 Advisor, TSK Farm Co., Ltd. (current) Jun 2023 Advisor, SAMI JAPAN Co., Ltd. (current) Mar 2025 Director (Audit and Supervisory Committee Member), the Company Oct 2025 Advisor, One World Link Co., Ltd. (current)
1967-06-21
Kenji YOSHIDA
Director (Audit and Supervisory Committee Member)
Oct 1998 Joined Osaka Office, Deloitte Touche Tohmatsu (now Deloitte Touche Tohmatsu LLC) Mar 2004 Joined Myonaka Certified Public Accountant Office Jun 2006 Joined Index Digital Co., Ltd. (now Synergy Marketing Inc.) Jul 2012 Established Yoshida Certified Public Accountant Office Mar 2013 Audit & Supervisory Board Member, Synergy Marketing Inc. Mar 2015 Audit & Supervisory Board Member, Wonderquest Co., Ltd. Dec 2015 Audit & Supervisory Board Member, Blanc Co., Ltd. (current) Jun 2017 Audit & Supervisory Board Member, Rigua Co., Ltd. (current) Aug 2019 Audit & Supervisory Board Member, Daito Co., Ltd. (current) Jul 2020 Representative Director, Bridge Co., Ltd. (current) Sep 2020 Audit & Supervisory Board Member, Higo One Co., Ltd. Oct 2020 Audit & Supervisory Board Member, Good News Co., Ltd. (current) Jun 2023 Audit & Supervisory Board Member, System Gear Co., Ltd. (current) Jun 2024 Outside Director, Hiyori Sangyo Co., Ltd. (current) Mar 2025 Director (Audit and Supervisory Committee Member), the Company
1972-11-13
Large Shareholding Reports
The San-in Godo Bank, Ltd.
2026-06-22
42.72%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-06-30): 33.70%
The San-in Godo Bank, Ltd.
2026-05-28
42.72%
Annual report (as of 2026-06-30): 33.70%
The San-in Godo Bank, Ltd.
2026-05-28
42.72%→35.33%
Annual report (as of 2026-06-30): 33.70%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-14
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
EDINETAmended
2026-06-22
Change Report
EDINET
2026-05-28
Large Shareholding Report
EDINET
2026-05-28
Large Shareholding Report
TDnet
2026-05-15
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-31
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINETAmended
2025-12-16
Amended Annual Securities Report
Period: Jan 2024 – Dec 2024
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-14
Semi-Annual Securities Report
Period: Jan 2025 – Jun 2025
EDINETAmended
2025-06-04
Amended Annual Securities Report
Period: Jan 2024 – Dec 2024
TDnet
2025-05-15
Q1 Earnings Flash
FY ending Dec 2025
EDINETAmended
2025-04-28
Amended Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2025-03-31
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-09-19
Securities Registration Statement
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Jun 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
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