Overview
Services

VELTRA Corporation

VELTRA Corporation operates Japan's largest online travel agency specializing in local experience tours and activities, offering over 22,000 products across 150 countries through direct contracts with approximately 8,000 tour operators worldwide. The company runs its flagship Japanese-language platform VELTRA.com, an English-language Hawaii-focused site (Hawaii Activities), and a B2B ticket distribution platform (Linktivity) targeting inbound tourists to Japan. Its competitive strengths lie in its extensive direct operator network, proprietary IT-driven marketing and product development capabilities, and an end-to-end online booking experience supported by over 400,000 user-generated reviews.

Market Cap
¥4.87B
US$31.0M
EV
¥0.20B
US$1.25M
Stock¥133▼-0.75%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
1.0
x
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
2.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-65.9%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 17, 25Q3 earnings disappointment selloff
2Feb 16, 26Upward revision of FY2026 earnings forecast
3Aug 17, 26Q2 FY2026/12 earnings announced
MC → EV Bridge
4.87BUS$31.0MMarket Cap0.00BUS$0.00M+ Debt4.94BUS$31.5M− Cash0.01BUS$0.05M− Inv. Sec.0.28BUS$1.77M+ NCI0.20BUS$1.25MEV
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Performance & Balance
Revenue 5Y (¥B)
0.49US$3.14M'21/121.16US$7.42M'22/123.12US$19.9M'23/124.30US$27.4M'24/124.58US$29.2M'25/12
EBITDA 5Y (¥B)
-0.90-US$5.73M'21/12-0.61-US$3.86M'22/120.08US$0.50M'23/12-0.01-US$0.04M'24/120.29US$1.83M'25/12
Net Income 5Y (¥B)
-1.16-US$7.38M'21/12-0.79-US$5.06M'22/12-0.06-US$0.36M'23/12-0.41-US$2.60M'24/120.14US$0.89M'25/12
Capital Structure
100%
EquityD/E 0.00xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
1.20US$7.64M0.03US$0.16M'21/122.80US$17.9M0.50US$3.19M'22/123.80US$24.2M0.50US$3.19M'23/125.18US$33.0M'24/125.69US$36.3M'25/12
Shareholders
Top 10 hold 58.7%
1
Paxalan S.à r.l. (Standing Proxy: Koyano Tax Accountant Corporation)
24.32%
2
Open Door Inc.
14.60%
3
Wataru FUTAGI
4.17%
4
Plenty Co., Ltd.
4.09%
5
Tetsuzo NAGASHIMA
3.68%
6
JTB Corp.
2.45%
7
Seiryo SAITO
1.55%
8
Takao HAYASHI
1.50%
9
Ryoko MANNEN
1.39%
10
BNYM AS AGT/CLTS NON TREATY JASDEC (Standing Proxy: MUFG Bank, Ltd.)
0.94%
Management
4 officers
Wataru FUTAGI
Representative Director, President and CEO
Apr 1989 Joined IWANAGA Co., Ltd. Jan 2000 Joined Pack Plus Co., Ltd.; assumed position of Director Apr 2004 Joined the Company Jan 2009 Assumed position of General Manager, Planning, Development & Marketing Department Mar 2014 Assumed position of General Manager, Overseas Business Division Apr 2015 Assumed position of Representative Director, President and CEO (current)
1971-04-10
Atsumi ARAKI
Director
Apr 1988 Joined Nissan Motor Co., Ltd. Nov 1991 Founded the Company (formerly Alan Co., Ltd.) Sep 1992 Assumed position of Director Sep 1997 Assumed position of Managing Director Mar 2000 Assumed position of Representative Director Dec 2017 Assumed position of Manager, Paxalan S.à r.l. (current) Sep 2018 Assumed position of Japan Branch Representative, Tiqets International B.V.
1964-09-20
Seiryu KONG
Director
Sep 2001 Joined SAMSUNG SDI CO., LTD. Nov 2006 Joined Pioneer Corporation Jan 2012 Joined Monster Lab Co., Ltd. Mar 2013 Joined LINE Corporation (currently LY Corporation) Sep 2014 Joined ValueCommerce Co., Ltd. Dec 2016 Joined the Company Jan 2020 Assumed position of Representative Director, Linkactivity Co., Ltd. (current)
1978-08-11
Rodney CUTHBERT
Outside Director
Mar 1975 Joined NCR Corporation Nov 1979 Joined Digital Equipment Corporation Apr 1983 Joined Select MicroSystems Oct 1986 Joined Creative Laser Systems May 1991 Joined LaserTools Corporation Jul 1995 Founded Viator; assumed position of CEO Aug 2012 Assumed position of CEO, ROME2RIO Mar 2019 Assumed position of Outside Director of the Company (current) Dec 2019 Assumed position of Director, Imperium Tourism Holdings (current) Feb 2020 Assumed position of Director, Jayride Group Limited (current) Jun 2023 Assumed position of Director, Tourism Tasmania (current)
1957-08-05
Large Shareholding Reports
Paxalan S.a r.l.
2026-09-29
26.80%→26.80%
Paxalan S.a r.l.
2026-09-29
26.80%→26.80%
Tetsuzo NAGASHIMA
2026-03-02
5.51%→4.51%
Annual report (as of 2026-06-30): 3.68%
Paxalan S.a r.l. (Paxalan S.a r.l.)
2025-12-26
26.81%→26.80%
Paxalan S.a r.l.
2025-12-25
26.81%→26.80%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-29
Large Shareholding Report
EDINET
2026-09-29
Large Shareholding Report
EDINET
2026-08-14
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-08-14
Q2 Earnings Flash
FY ending Dec 2026
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-23
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-03-02
Large Shareholding Report
EDINETAmended
2025-12-26
Change Report
EDINET
2025-12-25
Large Shareholding 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
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINETAmended
2025-03-04
Amended Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINETAmended
2025-03-04
Amended Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-08-14
Semi-Annual Securities Report
Period: Jan 2024 – Jun 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-28
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINETAmended
2024-01-18
Amended Annual Securities Report
Period: Jan 2022 – Dec 2022
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
2023-03-28
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINETAmended
2022-04-07
Amended Annual Securities Report
EDINET
2022-03-29
Annual Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-13
Quarterly Securities Report
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