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Overview

Information & Communication

VISION INC.

Vision Inc. is a Japanese telecommunications and mobile connectivity company primarily engaged in the rental of mobile Wi-Fi routers (under the 'Global WiFi' brand) to travelers going overseas from Japan, travelers visiting Japan from abroad, and domestic business travelers. The company also operates an Information and Communication Services segment, providing agency services for fixed-line, mobile, and broadband subscriptions, as well as OA equipment sales and internet media services targeting corporations, startups, and SOHO operators. Additionally, the company operates a Glamping & Tourism segment, running glamping resort facilities in Japan.

Market Cap

¥48.5B

US$309M

¥39.1B

US$250M

Stock¥1,016▼-0.97%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

5.3

LTM EV/EBIT

5.9

LTM PER

10.5

LTM PBR

2.4

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-38.7%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

92%

EquityD/E 0.08xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 44.0%

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

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

9.28%

Mizuho Trust & Banking Co., Ltd., Securities Management Trust (Kenichi SANO 0730078)

8.28%

Kenichi SANO

5.59%

Custody Bank of Japan, Ltd. (Trust Account)

4.71%

SBI SECURITIES Co., Ltd.

3.40%

Mizuho Trust & Banking Co., Ltd., Securities Management Trust (Kenichi SANO 0730079)

2.76%

Mizuho Trust & Banking Co., Ltd., Securities Management Trust (Kenichi SANO 0730080)

2.76%

Mizuho Trust & Banking Co., Ltd., Securities Management Trust (Kenichi SANO 0730081)

2.76%

Custody Bank of Japan, Ltd. (Trust Account E)

2.39%

Ueda Yagi Tanshi Co., Ltd.

2.12%

Management

11 officers

Kenichi SANO

Representative Director, Chairman and CEO

Feb 1991: Joined Hikari Tsushin, Inc. Jun 1995: Established Vision Co., Ltd. (limited company); Representative Director Apr 1996: Established former Vision Co., Ltd.; Representative Director Dec 2001: Established the Company; Director Nov 2004: Representative Director, the Company Oct 2011: Representative Director, Vision Mobile Korea Inc.; Representative Director and President, Vision Mobile Hawaii Inc. Dec 2011: Chairman, Vision Mobile Hong Kong Limited (current) Jan 2012: Representative Director, GLOBAL WIFI.COM PTE. LTD. (current) Feb 2012: Chairman, Wuxian Quanqiu Tongxin Co., Ltd. (current) Apr 2014: Chairman, Shanghai Gaoxiao Communication Technology Co., Ltd. (current) Nov 2014: President, Global WiFi France SAS (current) Dec 2014: Chairman of the Board, Vision Mobile Italia S.r.l. (current) Jul 2016: Director and President, VISION MOBILE USA CORP. (current) Aug 2016: President, Vision Mobile New Caledonia SAS (current) Mar 2023: Representative Director, Chairman and CEO, the Company (current)

1969-11-07

Kenji OTA

Representative Director, President and COO

Nov 1997: Joined former Vision Co., Ltd. Dec 2001: Director, the Company Mar 2008: Director, the Company Oct 2011: Director, Vision Mobile Korea Inc.; Director and Vice President, Vision Mobile Hawaii Inc. (current) Feb 2012: Director, Wuxian Quanqiu Tongxin Co., Ltd. (current) Oct 2012: Representative Director, Best Link Co., Ltd. Apr 2014: Director, Shanghai Gaoxiao Communication Technology Co., Ltd. (current) Nov 2014: Directeur General, Global WiFi France SAS (current) Dec 2014: Director, Vision Mobile Italia S.r.l. (current) Mar 2015: Director and General Manager, Sales Division, the Company Jul 2016: Director and Vice President, VISION MOBILE USA CORP. (current) Aug 2016: Directeur General, Vision Mobile New Caledonia SAS (current) Feb 2018: Representative Director, Alpha Techno Co., Ltd. Mar 2018: Director, BOS Co., Ltd. (current) May 2018: Director, Vision Ad Co., Ltd. Mar 2020: Representative Director, Vision Digital Marketing Co., Ltd. (now Best Link Co., Ltd.) Aug 2022: Director, Koshikano Onsen Co., Ltd. (current); Director, Adball Co., Ltd. (current) Mar 2023: Director, Best Link Co., Ltd. (current); Director, Alpha Techno Co., Ltd. (current); Representative Director, President and COO, the Company (current) Jun 2024: Director, ZORSE Co., Ltd. (current) Oct 2024: Director, Vision Works Co., Ltd. (current) Dec 2024: Director, Vision Link Co., Ltd. (current) Sep 2025: Director, THISIS Co., Ltd. (current)

1971-11-24

Shinichi NAKAMOTO

Director and CFO

Dec 1991: Joined Hikari Tsushin, Inc. Aug 1995: Joined Vision Co., Ltd. (limited company) Apr 1996: Director, former Vision Co., Ltd. Nov 2004: Director, the Company Oct 2011: Director, Vision Mobile Korea Inc.; Director and Vice President, Vision Mobile Hawaii Inc. (current) Feb 2012: Director, Wuxian Quanqiu Tongxin Co., Ltd. (current) Jun 2013: Director, Find Japan Co., Ltd. Apr 2014: Director, Shanghai Gaoxiao Communication Technology Co., Ltd. (current) Mar 2015: Director and General Manager, Administration Division, the Company Jul 2016: Director and Vice President, VISION MOBILE USA CORP. (current) Aug 2022: Director, Koshikano Onsen Co., Ltd. (current) Mar 2023: Director and CFO, the Company (current)

1972-10-21

Shinichiro NAITO

Director

Apr 1991: Joined Recruit Human Resources Center Co., Ltd. (now Recruit Co., Ltd.) Oct 1994: Joined Nihon Remodel Co., Ltd. Dec 1995: Established Persson & Persson Entertainment Ltd. (now Persson Co., Ltd.); Director Dec 1996: Established Arest Co., Ltd. (now Findstar Co., Ltd.); Director Jul 1998: Representative Director, the same company Jun 2009: Director, TMH Co., Ltd. Jul 2009: Representative Director, MDK Co., Ltd. (current) Jul 2010: Director, D-Pops Co., Ltd. (now D-Pops Group Co., Ltd.) (current) Jul 2011: Director, Startrise Co., Ltd. Dec 2011: Director, One Star Co., Ltd. Jul 2012: Director, Starks Co., Ltd. Oct 2012: Director, Shift Co., Ltd. (current) Jul 2015: Corporate Auditor, One Star Co., Ltd. Sep 2015: Representative Director, Star Asset Consulting Co., Ltd. Nov 2015: Established Findstar Group Co., Ltd.; Representative Director (current) Mar 2016: Director, the Company (current) Dec 2018: Director, Temona Co., Ltd.

1967-06-13

Hizuori HARADA

Director

Apr 2001: Joined SoftBank Commerce Co., Ltd. (now SoftBank Corp.) Sep 2003: Joined Dell K.K.; Business Development Manager Feb 2006: Joined Trend Micro Inc.; Global Marketing Director Sep 2013: Representative Director, Tripadvisor K.K. Jul 2015: Established Landream Co., Ltd.; Representative Director (current) Jul 2016: Director, WILLER Inc. Mar 2017: Director, the Company (current) Dec 2019: Legal Representative, Shanghai Taqu Culture Media Co., Ltd. Jul 2020: Representative Director, TOUCH GROUP Co., Ltd. (current)

1974-06-21

Michimasa NAKA

Director

Apr 1989: Joined Salomon Brothers Asia Securities Company (now Citigroup Global Markets Japan Inc.) Dec 2004: Joint Head of Debt Capital Markets, Nikko Citigroup Securities Ltd. (now Citigroup Global Markets Japan Inc.); Managing Executive Officer Jun 2008: Managing Executive Officer and Head of Market Sales, Citigroup Global Markets Japan Inc. Oct 2009: Director, Citigroup Global Markets Japan Inc. Dec 2009: Vice President and Director, Citigroup Global Markets Japan Inc. Dec 2010: Established Stormharbour Securities Co., Ltd.; Representative Director Mar 2011: Corporate Auditor, GLM Co., Ltd. Jul 2014: Director, Asuka Asset Management Co., Ltd.; Director, eWell Co., Ltd. Sep 2014: Director, I-Style Co., Ltd. (current) Oct 2014: Chairman, Stormharbour Securities Co., Ltd. Nov 2014: Director, Geniee, Inc. Jul 2015: Director, Prevent Short-Term Insurance Co., Ltd. (now Mikata Short-Term Insurance Co., Ltd.) (current) Jul 2016: Established Boardwalk Capital Co., Ltd.; Representative Director (current) Jun 2017: Established Accelerator Co., Ltd.; Representative Director (current) Dec 2018: Director, Boardwalk Trading Co., Ltd. (current) Mar 2019: Director, the Company (current) May 2020: Director, Vector Inc. (current) May 2021: Director, Houketsu Co., Ltd. (current) Oct 2022: Director, HR Cloud Co., Ltd. (current)

1964-08-14

Shiori MORI

Director

Jan 2015: Registered as attorney-at-law (Tokyo Bar Association) Jan 2015: Joined Baba & Sawada Law Office Nov 2017: Joined K&L Gates Gaikokuho Joint Enterprise Law Office Oct 2018: Partner Attorney, Integral Law Office (current) Mar 2024: Director, the Company (current) Aug 2024: Corporate Auditor, LiME Inc. (current) Sep 2024: Director, Usonar Inc. (current) Mar 2025: Director (Audit and Supervisory Committee Member), Amiya Corporation (current) Aug 2025: Corporate Auditor, Warrantly Technology Inc. (current) Sep 2025: Director, Digital Information Technologies Corporation (current) Nov 2025: Corporate Auditor, FCE Inc. (current)

1989-03-29

Tetsuya NIWA

Full-time Corporate Auditor

Feb 1991: Joined Fullcast Co., Ltd. (now Fullcast Holdings Co., Ltd.) Oct 2004: General Manager, Legal Department, Fullcast Co., Ltd. Oct 2007: General Manager, Compliance Promotion Department, Fullcast Co., Ltd. Dec 2010: Director, Fullcast Co., Ltd. Nov 2011: Joined Kadokawa Haruki Office Co., Ltd. Oct 2014: Joined the Company; General Manager, Legal Department Jan 2016: Supervisor, Legal Department, the Company Jun 2017: Corporate Auditor, Members Net Co., Ltd.; Corporate Auditor, Best Link Co., Ltd.; Corporate Auditor, BOS Co., Ltd.; Supervisor, Vision Mobile Korea Inc.; Director, Vision Mobile Hawaii Inc.; Supervisor, Wuxian Quanqiu Tongxin Co., Ltd.; Supervisor, Shanghai Gaoxiao Communication Technology Co., Ltd.; Director, VISION MOBILE USA CORP. May 2018: Corporate Auditor, Vision Ad Co., Ltd. Jan 2019: Executive Officer in charge of Human Resources, General Affairs and Legal, the Company Mar 2020: Corporate Auditor, Vision Digital Marketing Co., Ltd. (now Best Link Co., Ltd.) Mar 2022: Joined Musashi Seimitsu Industry Co., Ltd. Nov 2022: Advisor, the Company Mar 2023: Full-time Corporate Auditor, the Company (current)

1966-02-10

Junichi MODAI

Corporate Auditor

Apr 1996: Joined Asahi & Co. (now Ernst & Young ShinNihon LLC) Sep 2005: Joined Clifix Tax Accountants Corporation Jun 2006: Corporate Auditor, Start Today Co., Ltd. (now ZOZO, Inc.) Dec 2008: Established Accounting Assist Co., Ltd.; Representative Director (current) Sep 2009: Corporate Auditor, EC Navi Co., Ltd. (now CARTA HOLDINGS, Inc.) Mar 2015: Corporate Auditor, the Company (current) Mar 2016: Corporate Auditor, Cyber Area Research, Inc. (now Geolocation Technology) (current) Dec 2017: Corporate Auditor, Ongakukan Co., Ltd. Oct 2018: Director, Feature Co., Ltd. Nov 2018: Corporate Auditor, Spocale Co., Ltd. Mar 2020: Corporate Auditor, Rex Advisors Co., Ltd. Jun 2020: Corporate Auditor, JUNTENBIO Co., Ltd. Jun 2021: Director, goodays Holdings Co., Ltd. Mar 2024: Director, Cookpad Inc. Jan 2026: Director, Goodcom Asset Co., Ltd. (current)

1974-03-19

Kazuhiko UMEHARA

Corporate Auditor

Apr 1975: Joined Toyo Trust & Banking Co., Ltd. (now Mitsubishi UFJ Trust and Banking Corporation) Mar 2006: Managing Director, M&U Trust Securitization Services Co., Ltd. Jun 2008: Full-time Corporate Auditor, Mitsubishi UFJ Capital Co., Ltd. Jun 2015: Advisor, Mitsubishi UFJ Capital Co., Ltd. Mar 2016: Corporate Auditor, the Company (current)

1953-03-03

Atsushi HOKAKU

Corporate Auditor

Dec 2004: Joined Deloitte Touche Tohmatsu (Deloitte Touche Tohmatsu LLC) Oct 2007: Joined Liga Partners Co., Ltd. Oct 2010: Representative Director and Vice President, Stream Co., Ltd. (current) Feb 2011: Representative Member, Stream Tax Accountants Corporation (current) Apr 2012: Representative Member, Shell Partners Audit Corporation Apr 2014: Corporate Auditor, First Logic Inc. (now Rakumachi Inc.) (current) Oct 2014: Corporate Auditor, Trifort Co., Ltd. Mar 2018: Corporate Auditor, the Company (current)

1977-09-01

Large Shareholding Reports

Tsuyoshi TAMAMURA

2026-09-16

4.18%→3.18%

Mizuho Trust & Banking Co., Ltd.

2026-06-05

2.63%→2.35%

RUSSELL INVESTMENTS IMPLEMENTATION SERVICES, LLC

2026-04-07

5.10%→4.10%

Nomura Asset Management Co., Ltd.

2026-03-23

3.75%→3.75%

Nomura Asset Management Co., Ltd.

2026-02-20

3.89%→3.75%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-01-22

4.14%→4.13%

Sumitomo Mitsui DS Asset Management Company, Limited

2026-01-09

4.19%→4.14%

Nomura Asset Management Co., Ltd.

2026-01-08

5.13%→3.89%

RUSSELL INVESTMENTS IMPLEMENTATION SERVICES, LLC

2025-12-22

5.10%

Mizuho Trust & Banking Co., Ltd.

2025-12-22

2.63%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-11-07

3.46%→2.60%

Sumitomo Mitsui DS Asset Management Company, Limited

2025-10-22

4.18%→4.19%

Nomura Asset Management Co., Ltd.

2025-10-21

5.18%→5.13%

Sumitomo Mitsui DS Asset Management Company, Limited

2025-10-07

4.18%

Nomura Asset Management Co., Ltd.

2025-10-06

5.08%→5.18%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-09-19

2.52%→3.46%

Nomura Asset Management Co., Ltd.

2025-08-22

4.33%→5.08%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-08-06

2.52%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-09-16

Large Shareholding Report

VISION INC.

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VISION INC.

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