Overview
Services

PIALA INC.

Piala Inc. is a marketing services company specializing in EC (e-commerce) support, primarily serving clients in the healthcare & beauty and food sectors. The company provides KPI-guaranteed customer acquisition marketing, direct marketing, and digital transformation (DX) services through its proprietary AI-powered solution suite 'RESULT Series,' supporting over 800 companies. Beyond its core e-commerce marketing business, Piala has expanded into essential worker recruitment marketing (medical, nursing care, childcare), brand co-creation services, and new business creation including P2C (manufacturer) ventures and entertainment.

Market Cap
¥4.24B
US$27.1M
EV
¥4.04B
US$25.8M
Stock¥592▼-0.17%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
31.4
x
LTM EV/EBIT
34.8
x
LTM PER
32.6
x
LTM PBR
6.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-23.3%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
4.24BUS$27.1MMarket Cap1.58BUS$10.1M+ Debt1.68BUS$10.7M− Cash0.19BUS$1.18M− Inv. Sec.0.08BUS$0.48M+ NCI4.04BUS$25.8MEV
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Performance & Balance
Revenue 5Y (¥B)
12.7US$80.7M'21/1211.8US$75.1M'22/129.06US$57.8M'23/1213.5US$86.0M'24/1215.7US$100M'25/12
EBITDA 5Y (¥B)
-0.02-US$0.13M'21/120.04US$0.22M'22/12-0.29-US$1.84M'23/12-0.15-US$0.95M'24/120.05US$0.31M'25/12
Net Income 5Y (¥B)
-0.26-US$1.65M'21/12-0.23-US$1.48M'22/12-0.98-US$6.26M'23/12-0.11-US$0.73M'24/120.20US$1.27M'25/12
Capital Structure
30%
70%
EquityD/E 2.32xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.54US$16.2M1.75US$11.2M'21/122.51US$16.0M1.97US$12.6M'22/122.19US$14.0M1.78US$11.3M'23/121.63US$10.4M1.48US$9.43M'24/121.78US$11.3M1.47US$9.38M'25/12
Shareholders
Top 10 hold 53.5%
1
FLYING BIRD Co., Ltd.
21.64%
2
Takao ASUKA
10.52%
3
Takanori OISHI
9.44%
4
Shinkichi NEGORO
3.84%
5
Geniee,Inc.
3.23%
6
ALG Co., Ltd.
1.88%
7
SBS Holdings,Inc.
1.12%
8
JPMorgan Securities Japan Co., Ltd.
0.72%
9
Emi MAESATO
0.59%
10
Makoto ONO
0.56%
Management
8 officers
Takao ASUKA
Representative Director, President
Apr 1999 Joined Triumph International Japan, Ltd. Mar 2004 Established Piala Co., Ltd. (now the Company) and assumed office as Director Oct 2004 Assumed office as Representative Director, President of the Company (current) Jan 2012 Assumed office as CEO of PIALA HOLDINGS LIMITED Nov 2012 Assumed office as Signer of PIATEC (Thailand) Co., Ltd. (current) Mar 2013 Assumed office as Chairman of Bizhi (Hangzhou) Trading Co., Ltd. (current) Jul 2014 Assumed office as Representative Director of PIALab. Inc. Dec 2014 Assumed office as Representative Director of FLYING BIRD Co., Ltd. (current) Jul 2019 Assumed office as Chairman of Taiwan Bizhi Trading Co., Ltd. Aug 2019 Assumed office as Representative of CHANNEL J (THAILAND) Co., Ltd. (current) Nov 2019 Assumed office as Chairman of PG-Trading (Vietnam) Co., Ltd. (current) Nov 2020 Assumed office as Director of PIALA Ventures Inc. (current) Aug 2021 Assumed office as Outside Director of United Will Inc. (current) Nov 2021 Assumed office as Outside Director of E-Medical Co., Ltd. Apr 2022 Assumed office as Representative Director of P2C Inc. (current) Apr 2024 Assumed office as Representative Director of Cyberstar Inc. (current)
1975-05-29
Shinkichi NEGORO
Senior Managing Director
Apr 2002 Joined Toomax Co., Ltd. Apr 2004 Joined Piala Co., Ltd. (now the Company) Feb 2008 Assumed office as Director of the Company Feb 2010 Assumed office as Managing Director of the Company Jan 2012 Assumed office as Director of PIALA HOLDINGS LIMITED Nov 2012 Assumed office as Signer of PIATEC (Thailand) Co., Ltd. Mar 2013 Assumed office as Director of Bizhi (Hangzhou) Trading Co., Ltd. Jul 2019 Assumed office as Director of Taiwan Bizhi Trading Co., Ltd. Feb 2026 Assumed office as Senior Managing Director of the Company (current)
1978-09-17
Jun MATSUDA
Director, CFO and General Manager of Administration Division
Apr 1993 Joined The Bank of Tokyo, Ltd. (now MUFG Bank, Ltd.) Oct 2000 Joined Citibank N.A. Apr 2007 Joined BNP Paribas Bank, Tokyo Branch Mar 2012 Joined Commerzbank, Tokyo Branch May 2018 Joined Lloyds Merchant Bank Mar 2020 Joined Divtone Group as Chief Financial Officer Mar 2021 Joined Three Dom Alliance Inc. as Chief Financial Officer Sep 2023 Joined the Company as Executive Officer, CFO and General Manager of Administration Division Oct 2023 Assumed office as Director of PIALA Ventures Inc. (current) Mar 2024 Assumed office as Director, CFO and General Manager of Administration Division of the Company (current) Apr 2024 Assumed office as Director of Cyberstar Inc. (current) Jan 2026 Assumed office as Statutory Auditor of Onion Inc. (current)
1969-03-06
Toshikatsu SAITO
Director
Apr 1991 Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Dec 1994 Joined Sony Pictures Entertainment Inc. Apr 1997 Seconded to Sony Music Entertainment Inc. Apr 2000 Seconded to Sony Computer Entertainment Inc. Apr 2009 Assumed office as Director of Trade Marketing Department, Sony Pictures Entertainment Inc. Apr 2010 Assumed office as Director in charge of Sales, Sony Pictures Entertainment Inc. Jan 2012 Assumed office as Advisor of Rakuten, Inc. (now Rakuten Group, Inc.) Sep 2016 Assumed office as Representative Director of the Professional Advisors Association (general incorporated association) (current) Feb 2017 Established STeam Inc. and assumed office as Representative Director (current) Mar 2020 Assumed office as Outside Director of the Company (current) Mar 2025 Assumed office as Outside Director of Newsed Tech Inc. (current)
1968-06-10
Akie SHIMADA
Director
Apr 1994 Joined Yomiuri Telecasting Corporation (now Yomiuri Television Broadcasting Corporation) Apr 2001 Joined LVJ Group K.K. (now Louis Vuitton Japan K.K.) Oct 2010 Joined Kodensha Co., Ltd. and assumed office as Director (current) Sep 2014 Assumed office as Director and COO of Food Discovery Co., Ltd. Jan 2019 Joined FiNC Technologies Co., Ltd. and assumed office as Executive Officer Aug 2021 Assumed office as Specially Appointed Visiting Professor of Tohoku University (National University Corporation) (current) Oct 2022 Joined Nihon Kabaya Ohayo Holdings, Inc. and assumed office as Executive Officer, General Manager of Branding Strategy Office Jul 2024 Assumed office as Advisor of the National Women's Education Center (independent administrative institution) (current) May 2025 Assumed office as Outside Statutory Auditor of IDOM Inc. (current)
1970-05-19
Norio AOYAMA
Full-time Statutory Auditor
Dec 2006 Joined Deloitte Touche Tohmatsu (now Deloitte Touche Tohmatsu LLC) Oct 2011 Established MAACS Inc. and assumed office as Representative Director (current) Oct 2011 Joined Ochiai Aoyama Certified Public Tax Accountants' Office Sep 2014 Registered as Certified Public Accountant Nov 2014 Registered as Certified Tax Accountant Nov 2014 Opened Aoyama Accounting Office and assumed office as Representative Certified Public Accountant and Representative Certified Tax Accountant (current) Mar 2015 Assumed office as Outside Statutory Auditor of the Company Jun 2019 Assumed office as Outside Director (Audit and Supervisory Committee Member) of KIT Corporation Mar 2024 Assumed office as Full-time Outside Statutory Auditor of the Company (current)
1979-07-28
Toshiro KAMBA
Statutory Auditor
Apr 1993 Registered as Attorney-at-Law (Daini Tokyo Bar Association) Jun 2003 Established Shiroyama Tower Law Office and assumed office as Representative Attorney (current) Apr 2005 Assumed office as Professor, Graduate School of Law, Toin Yokohama University Mar 2006 Assumed office as Outside Statutory Auditor of GungHo Online Entertainment, Inc. Apr 2010 Assumed office as Dean, Graduate School of Law, Toin Yokohama University Jun 2013 Assumed office as Outside Statutory Auditor of T-Gaia Corporation Jun 2014 Assumed office as Director of Toin Gakuen (school corporation) Mar 2015 Assumed office as Outside Statutory Auditor of the Company (current) Jun 2015 Assumed office as Director of Tokyo Metropolitan Transportation Cooperation Association (general incorporated foundation) (current) Apr 2021 Assumed office as Director of Toin Legal Research Support Center Apr 2021 Assumed office as Visiting Professor, Graduate School of Law, Toin Yokohama University Apr 2025 Assumed office as Statutory Auditor of Super Trick Games Inc.(current) Apr 2025 Professor Emeritus, Toin Yokohama University (current)
1960-09-10
Takeshi SUGINO
Statutory Auditor
Apr 2001 Joined Nomura Securities Co., Ltd. Dec 2006 Joined Deloitte Touche Tohmatsu (now Deloitte Touche Tohmatsu LLC) Jul 2010 Joined MID Structures Inc. Dec 2010 Registered as Certified Public Accountant Apr 2013 Assumed office as Auditor of Junior Golfer Development Foundation (public interest incorporated foundation) May 2014 Assumed office as Outside Statutory Auditor of the Company (current) Apr 2015 Assumed office as Full-time Outside Statutory Auditor of the Company Jul 2016 Opened Sugino Certified Public Accountant Office and assumed office as Office Head (current) Nov 2020 Assumed office as Statutory Auditor of PIALA Ventures Inc. Jun 2022 Assumed office as Outside Statutory Auditor of Heiwa Corporation (current)
1976-07-01
Large Shareholding Reports
FLYING BIRD Inc.
2026-09-24
20.62%→20.58%
Annual report (as of 2026-06-30): 21.64%
FLYING BIRD Co., Ltd.
2026-09-16
21.76%→20.62%
Annual report (as of 2026-06-30): 21.64%
Takanori OISHI
2026-04-07
4.63%→9.19%
Annual report (as of 2026-06-30): 9.44%
FLYING BIRD
2025-11-14
22.26%→21.76%
Annual report (as of 2026-06-30): 21.64%
Takao ASUKA
2025-11-14
32.68%→32.13%
Annual report (as of 2026-06-30): 10.52%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-09-24
Change Report
EDINET
2026-09-16
Large Shareholding Report
TDnet
2026-08-14
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-05-15
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-03-27
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-11-14
Large Shareholding Report
EDINETAmended
2025-11-14
Change Report
TDnet
2025-11-14
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-14
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-15
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-12-02
Securities Registration Statement
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-27
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
2023-03-29
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-15
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-30
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
EDINET
2021-05-14
Quarterly Securities Report
EDINET
2021-03-29
Annual Securities Report
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