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Overview

Services

KIYO Learning Co.,Ltd.

KIYO Learning operates cloud-based learning services leveraging IT to enhance individual and corporate learning efficiency. Its flagship service, STUDYing, is an online qualification preparation platform offering over 38 courses across business, legal, accounting, IT, and other categories, designed for busy professionals to study via smartphone, tablet, or PC using AI-powered personalized learning features. The company also provides AirCourse, a corporate e-learning (LMS) system for employee training, and STUDYing Career, a job placement service for qualification holders, forming integrated career and human capital development platforms.

Market Cap

¥3.47B

US$22.1M

¥0.23B

US$1.43M

Stock¥504▼-1.56%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

0.4

LTM EV/EBIT

0.5

LTM PER

8.8

LTM PBR

2.2

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-58.7%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Nov 14, 25Interim earnings growth slowdown

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

78%

22%

EquityD/E 0.28xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 65.7%

as of 2026-06-30 · Source: Annual Securities Report

Takayoshi AYABE

40.09%

Visional,Inc.

6.25%

Custody Bank of Japan, Ltd. (Trust Account)

4.25%

Yuji NISHIMURA

3.18%

MATCHING SERVICE JAPAN CO.,LTD.

2.39%

Mynavi Corporation

2.09%

Kazuyuki WATANABE

2.09%

SBI SECURITIES Co., Ltd.

1.83%

MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

1.77%

The Master Trust Bank of Japan, Ltd. (Trust Account)

1.77%

Management

7 officers

Takayoshi AYABE

Representative Director, President

Apr 1996 Joined Oracle Corporation Japan Jan 2003 Joined IAF Consulting Co., Ltd. Jan 2010 Established the Company; Representative Director, President (current)

1971-11-08

Masaki HOSHINO

Director, CHRO and Head of Corporate Division

Apr 1997 Joined Toray Industries, Inc. Nov 2006 Joined Benesse Corporation Apr 2016 Joined WingArc1st Inc. Sep 2017 Deputy General Manager, Human Resources Department, WingArc1st Inc. Mar 2020 General Manager, People Success Department, WingArc1st Inc. Oct 2021 Joined Premier Anti-Aging Co., Ltd.; General Manager, Human Resources Department Aug 2022 General Manager, Human Resources and General Affairs Department, Premier Anti-Aging Co., Ltd. Jun 2023 Joined the Company; Executive Officer, CHRO and General Manager, Human Capital Development Division Mar 2024 Director, CHRO and Head of Corporate Division (current)

1973-07-23

Kazuhiro UENO

Director (Note 1)

Oct 2001 Joined Shin Nihon & Co. (currently EY ShinNihon LLC) May 2005 Registered as Certified Public Accountant Jan 2006 Joined Fuji Television Network, Inc., Accounting Department Sep 2009 Joined Shin Nihon LLC (currently EY ShinNihon LLC) Apr 2019 Opened Kazuhiro Ueno CPA Office; Office Head (current) Jul 2019 Registered as Certified Tax Accountant; opened Kazuhiro Ueno Tax Accountant Office; Office Head (current) Mar 2020 Audit & Supervisory Board Member, Gifty Inc. (current) Jul 2020 Representative Partner, ES Next Audit Corporation (currently ES Next LLC) Oct 2020 Representative Director, Leagress Inc. (current) Aug 2021 Director (Audit and Supervisory Committee Member), First Corporation Inc. (current) Feb 2022 Partner, ES Next LLC Mar 2022 Outside Director of the Company (current) Oct 2024 Outside Director (Audit and Supervisory Committee Member), Will Plus Holdings Inc. (current)

1977-03-08

Heita AKAMATSU

Director (Note 1)

Oct 2004 Registered as attorney-at-law (Tokyo Bar Association) Oct 2004 Joined Daiichi Chuo Law Office (current) Mar 2013 Certified as Management Innovation Support Organization (current) Feb 2022 Outside Director of the Company (current)

1978-10-07

Yoshihiko FUJIMOTO

Full-time Audit & Supervisory Board Member (Note 2)

Apr 1990 Joined Sanyo Securities Co., Ltd. Aug 2000 Joined Asia Securities Printing Co., Ltd. (currently Pronexus Inc.) Sep 2001 Joined Rakuten, Inc. Oct 2005 Executive Officer and General Manager, Organization Management Division, Rakuten, Inc. Nov 2006 Joined Sammy Corporation (currently Sega Sammy Holdings Inc.); General Manager, Legal Department Feb 2009 Joined OGI Holdings Co., Ltd.; General Manager, Legal Department Jan 2011 Joined GREE, Inc.; General Manager, Organization Management Department Jan 2017 Director, General Investment Co., Ltd. Jan 2020 Part-time Lecturer, Andante Nishiogi Institute of Education and Research (current) Apr 2020 Full-time Audit & Supervisory Board Member, FISM Co., Ltd. Mar 2024 Full-time Audit & Supervisory Board Member of the Company (current)

1963-08-20

Tomoyuki YUASA

Audit & Supervisory Board Member (Note 2)

Oct 2003 Joined Tohmatsu & Co. (currently Deloitte Touche Tohmatsu LLC) Sep 2011 Representative, Yuasa CPA Office (current) Jun 2012 Outside Audit & Supervisory Board Member, Light Up Co., Ltd. Jul 2013 Representative Director, Decision Consulting Co., Ltd. (current) Nov 2015 Outside Audit & Supervisory Board Member, Eightred Co., Ltd. (current) Mar 2017 Outside Audit & Supervisory Board Member of the Company (current) Jun 2017 Outside Audit & Supervisory Board Member, Japan Machinery Co., Ltd. (current) Mar 2020 Outside Audit & Supervisory Board Member, Trustridge Co., Ltd.

1978-05-15

Mio SATO

Audit & Supervisory Board Member (Note 2)

Sep 2007 Registered as attorney-at-law (Tokyo Bar Association) Sep 2007 Joined Furuta & Associates Law Office (currently Claire Law Office) Jan 2015 Partner Attorney, Furuta & Associates Law Office May 2015 Outside Director, Eigel Inc. (current) Dec 2015 Partner Attorney, A. Sagawa Law Office (current) Mar 2019 Outside Audit & Supervisory Board Member of the Company (current) Jun 2021 Outside Director, IX Knowledge Inc. (current) Jul 2021 Outside Audit & Supervisory Board Member, CLUE Inc. Nov 2022 Outside Audit & Supervisory Board Member, Caster Inc. (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), ITmedia Inc. (current)

1975-03-19

Large Shareholding Reports

Asset Management One Co., Ltd.

2026-05-12

7.43%→4.22%

Visional Inc.

2026-02-25

5.01%→6.09%

Annual report (as of 2026-06-30): 6.25%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-14

Q2 Earnings Flash

FY ending Dec 2026

KIYO Learning Co.,Ltd.

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KIYO Learning Co.,Ltd.

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