Overview
Electric Appliances

TRaaS On Product Inc.

TRaaS On Product operates across three segments: the TRaaS business, which provides IoT solutions and SaaS services for the B2B market using fabless-designed hardware; the Order-based Product business, which offers fully vertically integrated IoT product development, manufacturing, and maintenance for Value Added Resellers (VARs); and the Technical Service business, which covers custom application software development, IT infrastructure provision, and engineer dispatch services. The company's competitive strengths lie in its ability to combine hardware and software development in-house, enabling flexible, low-cost, small-lot IoT product manufacturing primarily through Chinese EMS partners. Its proprietary software IP assets allow rapid cross-deployment across product categories including digital signage, wearable devices, and video distribution terminals.

Market Cap
¥1.27B
US$8.09M
EV
¥1.16B
US$7.40M
Stock¥263▼-2.59%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
4.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-52.1%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Dec 4, 25Sharp decline due to poor performance
2Jun 4, 26Q1 FY2027/01 earnings announced
3Sep 10, 26Q2 FY2027/01 earnings announced
MC → EV Bridge
1.27BUS$8.09MMarket Cap0.14BUS$0.88M+ Debt0.25BUS$1.58M− Cash0.00BUS$0.00M− Inv. Sec.1.16BUS$7.40MEV
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Performance & Balance
Revenue 5Y (¥B)
0.40US$2.58M'22/10.50US$3.16M'23/10.31US$1.98M'24/10.41US$2.62M'25/10.49US$3.09M'26/1
EBITDA 5Y (¥B)
-0.28-US$1.76M'22/10.00US$0.00M'23/1-0.06-US$0.36M'24/10.03US$0.18M'25/10.00US$0.00M'26/1
Net Income 5Y (¥B)
-0.52-US$3.30M'22/1-0.02-US$0.10M'23/1-0.09-US$0.54M'24/10.00US$0.01M'25/1-0.06-US$0.39M'26/1
Capital Structure
68%
32%
EquityD/E 0.47xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
0.12US$0.77M0.06US$0.40M'22/10.39US$2.48M0.06US$0.39M'23/10.33US$2.11M0.06US$0.38M'24/10.31US$2.01M0.06US$0.38M'25/10.28US$1.78M0.15US$0.97M'26/1
Shareholders
Top 10 hold 42.4%
1
Hidehiko FUJIYOSHI
17.09%
2
WORLD F PTE. LTD. (Standing Proxy: Ichiyoshi Securities Co.,Ltd.)
9.11%
3
Ryuichi TERAYAMA
3.27%
4
Masayuki MAEKAWA
3.21%
5
Morihiro KUKIDA
3.16%
6
Kazuhiko FUJIYOSHI
1.95%
7
Rakuten Securities, Inc.
1.50%
8
Akira WATANABE
1.17%
9
Seizaburo HOSODA
1.03%
10
NOMURA INTERNATIONAL PLC A/C JAPAN FLOW (Standing Proxy: Nomura Securities Co., Ltd.)
0.95%
Management
5 officers
Hidehiko FUJIYOSHI
Representative Director, President
As described in Item A.
1973-05-02
Masayuki HARAGUCHI
Director, Audit and Supervisory Committee Member
As described in Item A.
1961-05-09
Masayuki MAEKAWA
Director, Audit and Supervisory Committee Member
Oct 1991 Joined Chuo Shinko Audit Corporation Mar 2001 Certified Public Accountant and Certified Tax Accountant, Head of Masayuki Maekawa Office (current) Dec 2004 Audit & Supervisory Board Member, Mobcast Inc. (currently Mobcast Holdings, Inc.) Jul 2005 Audit & Supervisory Board Member, Transas Inc. (currently the Company) May 2006 Founded CONSOLIX Inc., Representative Director, President (current) Mar 2014 Director, Transas Inc. (currently the Company) Feb 2015 Representative Director, IPF Corporation (current) Jun 2021 Outside Director, Audit and Supervisory Committee Member, CRESCO, Ltd. (current) Jun 2021 Outside Director, IA Group Corporation Nov 2023 Outside Director, Kurotani Co., Ltd. (currently MERF Co., Ltd.) (current) Apr 2026 Outside Director, Audit and Supervisory Committee Member, the Company (current)
1965-03-30
Takashi AOYANAGI
Director, CFO
As described in Item A.
1974-04-01
Toshihide OKAYASU
Director, Audit and Supervisory Committee Member
As described in Item A.
1982-11-12
Large Shareholding Reports
Hidehiko FUJIYOSHI
2026-10-09
18.82%→18.77%
Annual report (as of 2026-07-31): 17.09%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-09
Large Shareholding Report
EDINET
2026-09-11
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
TDnet
2026-09-10
Q2 Earnings Flash
FY ending Jan 2027
TDnet
2026-06-04
Q1 Earnings Flash
FY ending Jan 2027
EDINET
2026-04-22
Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-12-04
Q3 Earnings Flash
FY ending Jan 2026
EDINET
2025-09-11
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-06-05
Q1 Earnings Flash
FY ending Jan 2026
EDINET
2025-04-25
Annual Securities Report
Period: Feb 2024 – Jan 2025
TDnet
2024-12-06
Q3 Earnings Flash
FY ending Jan 2025
EDINET
2024-09-12
Semi-Annual Securities Report
Period: Feb 2024 – Jan 2025
EDINET
2024-06-11
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
TDnet
2024-06-07
Q1 Earnings Flash
FY ending Jan 2025
EDINET
2024-04-24
Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINET
2023-12-08
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINET
2023-09-13
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-09
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-04-21
Annual Securities Report
Period: Feb 2022 – Jan 2023
EDINET
2022-12-09
Quarterly Securities Report
EDINET
2022-09-09
Quarterly Securities Report
EDINET
2022-06-10
Quarterly Securities Report
EDINET
2022-05-02
Securities Registration Statement
EDINET
2022-04-27
Annual Securities Report
EDINET
2021-12-15
Quarterly Securities Report
EDINET
2021-09-10
Quarterly Securities Report
EDINET
2021-06-11
Quarterly Securities Report
EDINET
2021-04-23
Annual Securities Report
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