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Japanese IT and business consulting firm advising clients across finance, manufacturing, HR and other sectors.
Japanese IT and business consulting firm advising clients across finance, manufacturing, HR and other sectors.
In one line: A small, generalist Japanese IT/business consultancy.
Moat: none (process know-how). Small, recently listed consultancy competing on relationships and delivery in a crowded field.
Headquarters: Chuo, Tokyo, Japan · Founded: 2015 · Employees: 1,762
Size Northsand,Inc (446A.T) is a Japan Information Technology company (Information Technology Services) with a market value of $1.11B, the 693rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,532 on 6 Nov 2026.
Performance Over six months the shares gained 99.2%, against +0.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 59.5% over the last twelve months (peer median +2.6%); the operating margin is 21.4% (peer median 0.4%).
Valuation It trades at 26.0× forward earnings against a peer median of 19.9× (6th most expensive of 14).
Capital Return on invested capital runs 84.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 11 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ¥33.1B | ¥26.2B | ¥16.4B | ¥9.19B |
| Revenue growth | — | +59% | +79% | — |
| Gross profit | ¥16.1B | ¥12.6B | ¥7.56B | ¥4.13B |
| EBITDA | ¥7.28B | ¥5.70B | ¥2.87B | ¥1.11B |
| Net income | ¥5.27B | ¥4.05B | ¥1.97B | ¥719M |
| Free cash flow | n/a | ¥4.25B | ¥1.74B | ¥795M |
| Capital expenditure | n/a | ¥33.0M | ¥197M | ¥195M |
| Total debt | ¥669M | ¥733M | ¥1.10B | ¥870M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Northsand,Inc 446A.T | $1.11B | +99% | +60% | 21% | 26.0× | 2.3% |
| Simplex Holdings,Inc 4373.T | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% |
| Future 4722.T | $1.36B | +59% | +8% | 20% | 17.2× | -5.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 446A.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | +0.8% | 9th lowest of 21 |
| 6-month return | +99.2% | +0.4% | 3rd highest of 21 |
| Distance from 52-week high | -15.2% | -38.4% | 7th highest of 21 |
| Revenue growth (TTM) | +59.5% | +2.6% | 2nd highest of 21 |
| Operating margin | 21.4% | 0.4% | 3rd highest of 21 |
| Forward P/E | 26.0× | 19.9× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 2.3% | 13.1% | 4th least demanding of 15 |
| ROIC minus cost of capital | +84.1 pp | -5.2 pp | highest of 20 |
| EV / EBITDA | 22.1× | 14.2× | 3rd most expensive of 9 |
| Net debt / EBITDA | -1.9× | -0.7× | 2nd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Northsand,Inc 446A.T | Japan | $1.11B | +99% | +60% | 21% | 26.0× | 2.3% | n/a |
| Nagarro NA9.DE | Germany | $1.12B | +78% | +1% | 8% | 16.9× | 3.8% | +18.4% |
| DTS 9682.T | Japan | $1.14B | +14% | 0% | 12% | 15.5× | -9.1% | +8.4% |
| E2E Networks E2E.NS | India | $1.06B | +49% | +252% | 28% | 60.1× | n/a | n/a |
| Wonders Information 300168.SZ | China | $1.05B | -16% | +3% | -17% | 487.0× | 51.6% | -7.6% |
| Grid Dynamics GDYN | United States | $1.05B | +88% | +7% | 4% | 21.8× | 27.8% | +29.9% |
| China Reform Health Management & Services 000503.SZ | China | $1.03B | -11% | +6% | -45% | n/a | n/a | n/a |
| Systena 2317.T | Japan | $1.02B | +4% | +6% | 16% | 14.5× | -10.9% | +9.2% |
| Shanghai Fengyuzhu Culture Technology 603466.SS | China | $1.21B | +40% | -23% | -4% | 74.3× | n/a | n/a |
| Shenzhen Das Intellitech 002421.SZ | China | $996M | +5% | -17% | -17% | n/a | 14.8% | -8.8% |
| Taiji Computer 002368.SZ | China | $1.24B | -23% | -37% | -27% | n/a | 4.1% | -1.8% |
| Rapid7 RPD | United States | $989M | +113% | 0% | 2% | 7.7× | 21.4% | +15.9% |
| Shanghai Ganglian E-Commerce 300226.SZ | China | $979M | -21% | +1% | 0% | 19.9× | 6.1% | +3.9% |
| Zhejiang Whyis Technology 301218.SZ | China | $1.27B | +147% | +23% | -15% | n/a | n/a | n/a |
| ZW Soft 688083.SS | China | $1.27B | -12% | +2% | -15% | 95.2× | 30.3% | +14.5% |
| Strait Innovation Internet 300300.SZ | China | $964M | -23% | -8% | -66% | n/a | n/a | n/a |
| Nanjing Sciyon Wisdom Technology 002380.SZ | China | $957M | -22% | +7% | 12% | 16.2× | 11.3% | +17.4% |
| 4DMedical 4DX.AX | Australia | $952M | -33% | +21% | -814% | n/a | n/a | n/a |
| Insigma Technology 600797.SS | China | $943M | -28% | -13% | 0% | n/a | 20.0% | -2.9% |
| Asseco South Eastern Europe ASE.WA | Poland | $940M | +20% | +7% | 16% | 16.0× | -0.9% | +11.9% |
| Bittium BITTI.HE | Finland | $1.31B | -3% | +48% | 22% | 42.4× | 18.4% | +8.8% |