S 
SE Holdings and Incubations Co 9478.T · JPY
Communication Services · Tokyo Stock Exchange · 🇯🇵 Japan
481
+4.11%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥7.03bn
FY2017FY2026
Net income
¥633.0m
FY2017FY2026
Free cash flow
¥861.0m
FY2017FY2026
Shareholders' equity
¥11.23bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥7.03bn | ¥7.24bn | ¥7.32bn | ¥7.33bn | ¥7.09bn | ¥6.31bn | ¥6.04bn | ¥5.44bn | ¥5.11bn | ¥6.50bn |
| Gross profit | ¥3.40bn | ¥3.54bn | ¥3.73bn | ¥3.86bn | ¥3.85bn | ¥3.12bn | ¥2.75bn | ¥2.47bn | ¥2.35bn | ¥2.46bn |
| Operating income | ¥956.0m | ¥819.0m | ¥1.22bn | ¥1.44bn | ¥1.48bn | ¥924.0m | ¥425.0m | ¥404.0m | ¥409.0m | ¥204.0m |
| Net income | ¥633.0m | ¥531.0m | ¥729.0m | ¥965.0m | ¥907.0m | ¥573.0m | ¥206.0m | ¥255.0m | ¥498.0m | ¥84.0m |
| Diluted earnings per share | 41.37 | 33.46 | 42.66 | 51.52 | 44.12 | 26.62 | 9.14 | 11.43 | 22.07 | 3.63 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥18.69bn | ¥15.54bn | ¥14.47bn | ¥11.89bn | ¥11.32bn | ¥10.13bn | ¥8.54bn | ¥8.49bn | ¥8.52bn | ¥8.61bn |
| Cash and short-term investments | ¥14.70bn | ¥10.88bn | ¥9.76bn | ¥6.98bn | ¥6.66bn | ¥5.57bn | ¥4.10bn | ¥3.97bn | ¥4.04bn | ¥3.74bn |
| Total liabilities | ¥7.45bn | ¥6.50bn | ¥5.94bn | ¥4.91bn | ¥4.88bn | ¥4.60bn | ¥3.97bn | ¥3.88bn | ¥3.87bn | ¥4.41bn |
| Debt | ¥3.61bn | ¥3.49bn | ¥3.26bn | ¥2.59bn | ¥2.53bn | ¥2.60bn | ¥2.29bn | ¥2.33bn | ¥2.43bn | ¥2.95bn |
| Shareholders' equity | ¥11.23bn | ¥9.04bn | ¥8.53bn | ¥6.98bn | ¥6.43bn | ¥5.53bn | ¥4.56bn | ¥4.61bn | ¥4.65bn | ¥4.19bn |
| Shares outstanding | 15m | 16m | 17m | 19m | 21m | 22m | 23m | 22m | 23m | 23m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥868.0m | −¥261.0m | ¥479.0m | −¥11.0m | ¥609.0m | ¥425.0m | ¥600.0m | ¥212.0m | ¥171.0m | ¥167.0m |
| Capital spending | −¥7.0m | −¥44.0m | −¥55.0m | −¥28.0m | −¥41.0m | −¥72.0m | −¥82.0m | −¥83.0m | −¥319.0m | −¥41.0m |
| Free cash flow | ¥861.0m | −¥305.0m | ¥424.0m | −¥39.0m | ¥568.0m | ¥353.0m | ¥518.0m | ¥129.0m | −¥148.0m | ¥126.0m |
| Dividends paid | −¥56.0m | −¥63.0m | −¥58.0m | −¥43.0m | −¥44.0m | −¥31.0m | −¥31.0m | −¥32.0m | −¥32.0m | −¥32.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥1.57bn | ¥1.87bn | ¥1.71bn | ¥1.82bn | ¥1.63bn | ¥1.99bn | ¥1.65bn | ¥1.92bn |
| Gross profit | ¥843.0m | ¥964.0m | ¥803.0m | ¥803.0m | ¥832.0m | ¥923.0m | ¥792.0m | ¥950.0m |
| Operating income | ¥254.0m | ¥358.0m | ¥209.0m | ¥201.0m | ¥188.0m | ¥233.0m | ¥120.0m | ¥233.0m |
| Net income | ¥168.0m | ¥243.0m | ¥188.0m | ¥106.0m | ¥96.0m | ¥164.0m | ¥48.0m | ¥204.0m |
| Diluted earnings per share | 10.98 | 15.88 | 11.85 | 6.68 | 6.05 | 10.34 | 2.81 | 11.94 |
| Total assets | ¥19.51bn | ¥18.69bn | ¥18.28bn | ¥17.13bn | ¥16.23bn | ¥15.54bn | ¥15.17bn | ¥14.31bn |
| Cash and short-term investments | ¥16.07bn | ¥14.70bn | ¥14.39bn | ¥12.72bn | ¥11.92bn | ¥10.88bn | ¥10.71bn | ¥9.73bn |
| Debt | ¥2.46bn | ¥3.61bn | ¥2.47bn | ¥3.81bn | ¥2.40bn | ¥3.49bn | ¥2.29bn | ¥2.98bn |
| Shareholders' equity | ¥11.91bn | ¥11.23bn | ¥10.88bn | ¥10.04bn | ¥9.25bn | ¥9.04bn | ¥8.94bn | ¥8.58bn |
Financial ratios
Data as of 10 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 48.4% | 48.9% | 51.0% | 52.7% | 54.2% | 49.4% | — | — |
| Operating margin | 13.7% | 11.4% | 16.6% | 19.0% | 19.7% | 14.2% | — | — |
| Net margin | 9.0% | 7.3% | 10.0% | 13.2% | 12.8% | 9.1% | — | — |
| Return on equity | 5.6% | 5.9% | 8.6% | 13.8% | 14.1% | 10.4% | — | — |
| Return on assets | 3.4% | 3.4% | 5.0% | 8.1% | 8.0% | 5.7% | — | — |
| Free cash flow yield | 11.5% | -2.8% | 6.3% | 0.2% | 6.4% | 4.6% | — | — |
| Revenue growth | -3.0% | -1.0% | -0.2% | 3.5% | 12.3% | 4.6% | — | — |
| Earnings growth | 19.2% | -27.2% | -24.5% | 6.4% | 58.3% | 178.2% | — | — |
| Current ratio | 4.43x | 3.53x | 3.29x | 2.56x | 2.46x | 2.44x | — | — |
| Debt to equity | 0.32x | 0.39x | 0.38x | 0.37x | 0.39x | 0.47x | — | — |
| Equity ratio | 60.1% | 58.2% | 58.9% | 58.7% | 56.8% | 54.6% | — | — |
| Interest coverage | 26.00x | 41.15x | 67.61x | 127.00x | 127.27x | 49.67x | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.3% | 0.6% |
| Buybacks as a share of market value | 3.6% | 7.1% | 8.8% | 8.9% | 4.5% | 4.5% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.4% | 2.2% | 0.4% |
| Operating income | -12.7% | 0.7% | 9.7% |
| Net income | -13.1% | 2.0% | 9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 48.7% | 50.3% | 50.8% | 47.3% |
| Operating margin | 12.4% | 15.3% | 16.1% | 12.0% |
| Net margin | 8.2% | 9.9% | 10.2% | 7.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.8 | 11.7 | 6.6 | 5.4 | 5.0 | 11.2 | 25.5 | 16.4 | 7.1 | 67.6 |
| Price to sales | 1.1 | 0.8 | 0.7 | 0.7 | 0.7 | 1.0 | 0.9 | 0.8 | 0.7 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 28 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 7.50 | 3.50 | 3.00 | 2.00 | 2.00 | 1.40 | 1.40 | 1.40 |
- 100-for-1 split · 26 Sept 2012
- 10-for-1 split · 28 Mar 2005
- 2-for-1 split · 27 Mar 2001
- 2-for-1 split · 27 Jun 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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