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Employees: 1,332
Size Base (4481.T) is a Japan Information Technology company (Packaged Software) with a market value of $356M, the 1252nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,987 on 6 Nov 2026.
Performance Over six months the shares fell 7.0%, against -23.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 0.7% over the last twelve months (peer median +10.5%); the operating margin is 25.5% (peer median 1.5%).
Valuation It trades at 13.1× forward earnings against a peer median of 22.2× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 115.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥21.7B | ¥21.8B | ¥20.2B | ¥18.7B | ¥17.0B |
| Revenue growth | — | +8% | +8% | +10% | — |
| Gross profit | ¥6.91B | ¥7.05B | ¥6.46B | ¥5.83B | ¥4.91B |
| EBITDA | ¥5.57B | ¥5.77B | ¥5.25B | ¥4.73B | ¥3.94B |
| Net income | ¥4.08B | ¥4.22B | ¥3.87B | ¥3.43B | ¥2.73B |
| Free cash flow | n/a | ¥4.46B | ¥3.86B | ¥3.24B | ¥3.64B |
| Capital expenditure | n/a | ¥2.67M | ¥20.3M | ¥38.4M | ¥24.5M |
| Total debt | ¥0 | ¥0 | ¥0 | ¥11.9M | ¥92.9M |
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.
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 | 4481.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.2% | -10.6% | 9th highest of 21 |
| 6-month return | -7.0% | -23.4% | 7th highest of 21 |
| Distance from 52-week high | -19.1% | -43.9% | highest of 21 |
| Revenue growth (TTM) | +0.7% | +10.5% | 8th lowest of 21 |
| Operating margin | 25.5% | 1.5% | 2nd highest of 21 |
| Forward P/E | 13.1× | 22.2× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -13.4% | 14.5% | least demanding of 11 |
| Growth delivered (Del g) | +11.9% | +14.5% | 5th lowest of 11 |
| Hurdle (Req g minus delivered) | -25.3 pp | -2.1 pp | 3rd least demanding of 11 |
| ROIC minus cost of capital | +115.3 pp | -7.8 pp | highest of 20 |
| EV / EBITDA | 7.9× | 10.7× | 3rd cheapest of 9 |
| Net debt / EBITDA | -2.3× | -2.6× | 4th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Base 4481.T | Japan | $356M | -7% | +1% | 26% | 13.1× | -13.4% | +11.9% |
| Beijing Forever Technology 300365.SZ | China | $357M | -32% | -47% | -52% | n/a | n/a | n/a |
| Deepexi Technology 1384.HK | Hong Kong | $356M | -88% | +86% | -9% | 101.4× | n/a | n/a |
| Weimob 2013.HK | Hong Kong | $358M | -55% | +40% | -14% | n/a | n/a | n/a |
| Shanghai WonderTek Software 603189.SS | China | $355M | -28% | +7% | -8% | n/a | n/a | n/a |
| Shenzhen Fangzhi Science and Technology 300235.SZ | China | $359M | -33% | +27% | 7% | n/a | n/a | n/a |
| Vitalhub VHI.TO | Canada | $354M | -2% | +54% | 12% | 22.2× | 13.6% | +51.2% |
| Beijing Century Real Technology 300150.SZ | China | $354M | -21% | -8% | 0% | n/a | 48.8% | +2.2% |
| Beijing Interact Technology 300419.SZ | China | $360M | -8% | -52% | -54% | n/a | 36.2% | -17.8% |
| Qtone Education Group (Guangdong) 300359.SZ | China | $361M | -24% | -29% | -34% | n/a | n/a | n/a |
| Lime Technologies LIME.ST | Sweden | $361M | +24% | +9% | 21% | 26.0× | -1.6% | +16.9% |
| PowerFleet AIOT | United States | $361M | -4% | +15% | 7% | 87.7× | 15.3% | +31.3% |
| Spire Global SPIR | United States | $351M | -53% | -33% | -108% | n/a | n/a | n/a |
| Wemade 112040.KS | South Korea | $351M | -43% | -3% | 6% | 10.4× | 5.7% | +37.1% |
| TDC SOFT 4687.T | Japan | $347M | +19% | +7% | 10% | 13.6× | -4.5% | +12.1% |
| Beijing SunwayWorld Science & Technology 301159.SZ | China | $347M | -23% | +17% | 3% | n/a | 53.6% | +7.0% |
| FFRI Security 3692.T | Japan | $347M | +15% | +28% | 29% | n/a | 34.6% | +21.9% |
| Hunan Creator Information Technologies 300730.SZ | China | $346M | -28% | -4% | -53% | n/a | n/a | n/a |
| CS Disco LAW | United States | $367M | +37% | +12% | -20% | n/a | n/a | n/a |
| Hangzhou Yitong New Materials 300930.SZ | China | $345M | -27% | +51% | 7% | n/a | n/a | n/a |
| Cerence CRNC | United States | $369M | -17% | +26% | 12% | 10.8× | 6.4% | -5.3% |