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Overview

Services

Tokyo Communications Group,Inc.

Tokyo Tsushin Group operates two core segments: a Media Business developing and monetizing smartphone app media (primarily casual and hyper-casual mobile games, as well as incentivized point-reward gaming apps) through advertising revenue, and a Platform Business connecting users with service providers via pay-per-use and subscription models, including telephone fortune-telling services ('Caris,' 'SATORI') and an entertainment-tech fan engagement app ('B4ND'). The company also pursues adjacent initiatives in metaverse content, digital signage, fan club services, and investment activities through its broader group structure. Tokyo Tsushin Group ranked #1 among Japanese publishers in Japan by game download count in 2025 (per Sensor Tower data), underscoring its scale and distribution strength in the domestic mobile gaming market.

Market Cap

¥2.45B

US$15.6M

¥2.77B

US$17.7M

Stock¥243▼-0.41%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.5

LTM EV/EBIT

9.3

LTM PER

7.7

LTM PBR

2.7

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-56.0%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Feb 13, 26FY results: sales ¥6.22B (+6.1%), op.profit ¥195M vs prior-year loss ¥230M

2Aug 13, 26Q2 earnings: Operating profit +166.8% YoY, ordinary income +253.4% YoY, double-digit growth across all segments

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

38%

62%

EquityD/E 1.61xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 43.1%

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

TRUST Holdings Inc.

19.12%

BNP PARIBAS SYDNEY/2S/JASDEC/DIVERSIFIED GLOBAL SHARE TRUST/TAXABLE (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

4.61%

monolice Co., Ltd.

4.38%

Yuki FURUYA

3.83%

SBI SECURITIES Co., Ltd.

3.60%

Rakuten Securities, Inc. (Joint Account)

2.98%

Hiroya KANDA

1.50%

THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)

1.25%

MATSUI SECURITIES CO.,LTD.

0.93%

Tadahiro SHIBATA

0.89%

Management

7 officers

Minoru TOGAWA

Director and Chairman of the Board

Apr 1994 Joined Hakuhodo Inc. Mar 2000 Joined CyberAgent, Inc. May 2000 Established CA Mobile, Inc. (currently CAM, Inc.), assumed position of Representative Director, President Dec 2003 Assumed position of Senior Managing Director, CyberAgent, Inc. Dec 2015 Assumed position of Representative Director, Chairman of the Company Sep 2019 Assumed position of Outside Director, BLEACH Inc. (current) Mar 2022 Assumed position of Director, Chairman of the Company (current) Nov 2022 Assumed position of General Partner, basepartners No. 2 Investment Limited Partnership (current)

1971-12-29

Yuki FURUYA

Representative Director, President and CEO

Apr 2009 Joined CA Mobile, Inc. (currently CAM, Inc.) May 2015 Established the Company, assumed position of Representative Director, President (current)

1986-11-14

Masahiko AKAHORI

Director, CFO

Apr 2009 Joined CA Mobile, Inc. (currently CAM, Inc.) Sep 2010 Joined Serendip Consulting Co., Ltd. (currently Serendip Holdings Co., Ltd.) Mar 2016 Assumed position of Director, Serendip Holdings Co., Ltd. Jun 2018 Assumed position of Outside Director, MIE Corporation May 2019 Joined Management Solutions Co., Ltd. Feb 2020 Assumed position of Supervisor, Yuan Song Management Consulting Co., Ltd. Jun 2020 Assumed position of Director, Globalway Inc. Mar 2022 Assumed position of Director, the Company Jun 2022 Assumed position of Director (Audit and Supervisory Committee Member), Globalway Inc. (current) Jul 2022 Assumed position of Director and CFO, the Company (current)

1985-07-04

Shinji TSUKAMOTO

Non-Executive Director

Apr 1993 Joined Mitsui & Co., Ltd. Oct 1999 Representative Director, President, Critical Path Japan K.K.; Vice President, U.S. headquarters Jun 2003 Joined Microsoft Japan Co., Ltd.; Country Manager, Microsoft Advertising Japan Mar 2007 Representative Director, President, Limelight Networks Japan K.K.; Vice President, U.S. headquarters Mar 2012 Joined Amazon Japan G.K.; Country Manager, Amazon Media Group Japan May 2015 Established Duffel Inc. (U.S.); President, Duffel International Jun 2019 Joined Amazon Japan G.K.; Country Manager, Amazon Ads Japan Jan 2022 Vice President, Amazon; Head of Amazon Ads, Asia Pacific Mar 2023 Global Chief Commercial Officer and President, Asia Pacific, Persefoni, Inc. (U.S.) (current) Apr 2023 Assumed position of Director, the Company (current)

1970-12-01

Kakoto SHIBASAKI

Non-Executive Director, Audit and Supervisory Committee Member

Oct 2000 Joined Chuo Aoyama Audit Corporation Aug 2006 Joined Shin Nihon & Co. (currently EY ShinNihon LLC) Oct 2016 Representative, Kakoto Shibasaki Certified Public Accountant Office (current) Oct 2018 Assumed position of Audit & Supervisory Board Member, the Company Mar 2022 Assumed position of Director (Audit and Supervisory Committee Member), the Company (current)

1976-06-28

Yoshito TAKAHASHI

Non-Executive Director, Audit and Supervisory Committee Member

Apr 1962 Joined Nomura Securities Co., Ltd. Dec 1985 Assumed position of Director, Nomura Research Institute, Ltd. Jun 1994 Assumed position of Vice President and Director, Nomura Research Institute, Ltd. Jun 1996 Assumed position of Advisor, Nomura Research Institute, Ltd.; assumed position of President, Nomura Management School Foundation Jul 2000 Assumed position of Advisor, Executive Partners Inc. (current) Oct 2000 Assumed position of Audit & Supervisory Board Member, NetPrice Inc. (currently BEENOS Inc.) Aug 2007 Assumed position of Audit & Supervisory Board Member, CERES, Inc. Dec 2015 Assumed position of Director (Audit and Supervisory Committee Member), BEENOS Inc. Oct 2018 Assumed position of Audit & Supervisory Board Member, the Company Mar 2021 Assumed position of Director (Audit and Supervisory Committee Member), CERES, Inc. (current) Mar 2022 Assumed position of Director (Audit and Supervisory Committee Member), the Company (current)

1940-03-09

Noriaki KUSHIDA

Non-Executive Director, Audit and Supervisory Committee Member

Oct 2004 Joined CA Mobile, Inc. (currently CAM, Inc.) Dec 2014 Joined Kato, Nishida & Hasegawa Law Office Feb 2017 Representative, Startline Law Office (current) Apr 2017 Assumed position of Outside Audit & Supervisory Board Member, Makuake Inc. Oct 2018 Assumed position of Audit & Supervisory Board Member, the Company Dec 2020 Assumed position of Director (Audit and Supervisory Committee Member), Makuake Inc. (current) Mar 2022 Assumed position of Director (Audit and Supervisory Committee Member), the Company (current)

1975-11-11

Large Shareholding Reports

Rakuten Securities, Inc.

2026-08-07

5.38%

Rakuten Securities, Inc.

2026-07-07

5.05%→2.37%

Rakuten Securities, Inc.

2026-06-22

5.05%

Trust Holdings Co., Ltd.

2026-03-09

21.05%→20.04%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2026-01-26

22.11%→21.05%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-12-05

23.27%→22.11%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-11-25

24.76%→23.27%

Annual report (as of 2026-06-30): 19.12%

Yuki FURUYA

2025-09-05

4.71%→5.84%

Annual report (as of 2026-06-30): 3.83%

Trust Holdings Co., Ltd.

2025-09-02

30.30%→29.73%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-09-02

29.27%→28.30%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-09-02

32.40%→30.30%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-09-02

25.85%→24.76%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-09-02

28.30%→28.13%

Annual report (as of 2026-06-30): 19.12%

Trust Holdings Co., Ltd.

2025-08-27

26.98%→25.85%

Annual report (as of 2026-06-30): 19.12%

Yuki FURUYA

2025-08-22

4.91%→4.71%

Annual report (as of 2026-06-30): 3.83%

Trust Holdings Co., Ltd.

2025-08-22

28.13%→26.98%

Annual report (as of 2026-06-30): 19.12%

Arrowstreet Capital, Limited Partnership

2025-08-07

6.98%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-08-12

Semi-Annual Securities Report

Period: Jan 2026 – Dec 2026

Tokyo Communications Group,Inc.

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Tokyo Communications Group,Inc.

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