I 
Internetworking and Broadband Consulting Co 3920.T · JPY
Information Technology · Tokyo Stock Exchange · 🇯🇵 Japan
1,404
+5.72%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥2.40bn
FY2016FY2025
Net income
¥410.7m
FY2016FY2025
Free cash flow
¥696.3m
FY2016FY2025
Shareholders' equity
¥2.27bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥2.40bn | ¥2.09bn | ¥1.90bn | ¥1.50bn | ¥2.01bn | ¥1.95bn | ¥1.83bn | ¥1.29bn | ¥1.22bn | ¥1.14bn |
| Gross profit | ¥1.84bn | ¥1.52bn | ¥1.34bn | ¥1.02bn | ¥1.27bn | ¥1.32bn | ¥1.28bn | ¥999.8m | ¥994.0m | ¥959.6m |
| Research and development | ¥10.2m | — | — | — | — | — | — | ¥105,000 | ¥6.7m | ¥11.0m |
| Operating income | ¥565.1m | ¥384.6m | ¥221.4m | −¥35.8m | ¥281.9m | ¥201.0m | ¥244.4m | ¥202.2m | ¥186.8m | ¥292.2m |
| Net income | ¥410.7m | ¥230.2m | ¥70.4m | −¥17.5m | ¥197.0m | −¥45.8m | ¥134.8m | ¥142.0m | ¥115.1m | ¥195.2m |
| Diluted earnings per share | 73.90 | 41.47 | 12.73 | -3.16 | 35.65 | -8.30 | 24.43 | 25.03 | 20.14 | 35.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥3.77bn | ¥3.25bn | ¥3.29bn | ¥3.30bn | ¥3.26bn | ¥3.05bn | ¥2.68bn | ¥1.92bn | ¥1.66bn | ¥1.67bn |
| Cash and short-term investments | ¥2.41bn | ¥1.93bn | ¥1.62bn | ¥1.41bn | ¥1.31bn | ¥1.23bn | ¥925.0m | ¥864.5m | ¥723.0m | ¥862.4m |
| Total liabilities | ¥1.49bn | ¥1.34bn | ¥1.46bn | ¥1.47bn | ¥1.51bn | ¥1.51bn | ¥1.05bn | ¥232.7m | ¥157.1m | ¥302.0m |
| Debt | ¥801.5m | ¥852.4m | ¥963.4m | ¥1.08bn | ¥1.12bn | ¥1.17bn | ¥769.1m | ¥31.6m | ¥45.4m | ¥86.2m |
| Shareholders' equity | ¥2.27bn | ¥1.91bn | ¥1.83bn | ¥1.83bn | ¥1.75bn | ¥1.54bn | ¥1.63bn | ¥1.69bn | ¥1.50bn | ¥1.37bn |
| Shares outstanding | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥701.5m | ¥354.4m | ¥431.6m | ¥342.8m | ¥446.4m | ¥84.6m | −¥12.0m | ¥189.9m | −¥44.1m | ¥90.7m |
| Capital spending | −¥5.1m | −¥6.9m | −¥4.1m | −¥7.9m | −¥826,000 | −¥215,000 | −¥16.5m | −¥12.6m | −¥16.6m | −¥22.1m |
| Free cash flow | ¥696.3m | ¥347.5m | ¥427.6m | ¥334.9m | ¥445.6m | ¥84.4m | −¥28.5m | ¥177.3m | −¥60.7m | ¥68.7m |
| Dividends paid | −¥45.5m | −¥55.0m | −¥22.1m | — | — | −¥500.0m | −¥750.0m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥586.8m | ¥721.1m | ¥371.7m | ¥749.1m | ¥581.9m | ¥654.3m | ¥419.1m | ¥634.5m |
| Gross profit | ¥398.7m | ¥584.9m | ¥271.5m | ¥548.9m | ¥444.8m | ¥540.8m | ¥315.5m | ¥472.2m |
| Operating income | ¥67.5m | ¥269.3m | −¥39.7m | ¥172.0m | ¥140.6m | ¥238.6m | ¥13.8m | ¥101.0m |
| Net income | ¥45.0m | ¥185.5m | −¥25.3m | ¥127.2m | ¥98.8m | ¥174.1m | ¥10.6m | ¥123.2m |
| Diluted earnings per share | 8.10 | 33.39 | -4.56 | 22.89 | 17.77 | 31.33 | 1.91 | 22.19 |
| Cash from operations | — | — | — | ¥701.0m | — | — | — | — |
| Capital spending | — | — | — | −¥5.0m | — | — | — | — |
| Free cash flow | — | — | — | ¥696.0m | — | — | — | — |
| Total assets | ¥3.62bn | ¥3.81bn | ¥3.40bn | ¥3.77bn | ¥3.39bn | ¥3.31bn | ¥3.06bn | ¥3.34bn |
| Cash and short-term investments | ¥2.39bn | ¥2.48bn | ¥2.34bn | ¥2.41bn | ¥2.46bn | ¥2.11bn | ¥2.12bn | ¥1.97bn |
| Debt | ¥800.8m | ¥800.9m | ¥800.0m | ¥800.9m | ¥800.9m | ¥800.9m | ¥825.0m | ¥850.9m |
| Shareholders' equity | ¥2.39bn | ¥2.41bn | ¥2.22bn | ¥2.27bn | ¥2.14bn | ¥2.08bn | ¥1.91bn | ¥1.99bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 76.5% | 72.7% | 70.3% | 68.3% | 63.2% | 67.6% | — | — | — | — |
| Operating margin | 23.5% | 18.4% | 11.6% | -2.4% | 14.0% | 10.3% | — | — | — | — |
| Net margin | 17.1% | 11.0% | 3.7% | -1.2% | 9.8% | -2.4% | — | — | — | — |
| Return on equity | 18.1% | 12.1% | 3.9% | -1.0% | 11.3% | -3.0% | — | — | — | — |
| Return on assets | 10.9% | 7.1% | 2.1% | -0.5% | 6.0% | -1.5% | — | — | — | — |
| Free cash flow yield | 12.7% | 6.5% | 7.9% | 6.3% | 8.1% | 1.5% | — | — | — | — |
| Revenue growth | 15.0% | 10.0% | 26.6% | -25.4% | 3.4% | 6.2% | — | — | — | — |
| Earnings growth | 78.4% | 227.1% | -501.1% | -108.9% | -530.2% | -134.0% | — | — | — | — |
| Current ratio | 2.14x | 2.00x | 1.69x | 1.76x | 2.02x | 2.32x | — | — | — | — |
| Debt to equity | 0.35x | 0.45x | 0.53x | 0.59x | 0.64x | 0.76x | — | — | — | — |
| Equity ratio | 60.4% | 58.6% | 55.6% | 55.5% | 53.6% | 50.5% | — | — | — | — |
| Interest coverage | 82.71x | 98.83x | 61.65x | -8.97x | 67.63x | 54.86x | — | — | — | — |
| R&D as a share of sales | 0.4% | — | — | — | — | — | 0.0% | 0.5% | 1.0% | 0.5% |
| Buybacks as a share of market value | -0.1% | -0.4% | 0.4% | -0.4% | -0.1% | -0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.0% | 4.3% | 9.4% |
| Operating income | — | 23.0% | 5.9% |
| Net income | — | — | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.8% | 72.4% | 70.1% | 73.2% |
| Operating margin | 21.1% | 14.4% | 13.6% | 15.6% |
| Net margin | 14.3% | 8.8% | 7.1% | 8.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.7 | 17.3 | 34.6 | -124.3 | 20.4 | -129.1 | 51.3 | 38.4 | 54.0 | 28.4 |
| Price to sales | 2.3 | 1.9 | 1.3 | 1.4 | 2.0 | 3.0 | 3.8 | 4.2 | 5.1 | 4.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 17.00 | 10.00 | 10.00 | 4.00 |
- 4-for-1 split · 26 Nov 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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