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Change Inc. (3962.T)
JPY968.00
+9.00 (+0.94%)
JP JPX Technology Information Technology Services
Address
Tokyu REIT Toranomon Building 105-0001
Tokyo, JP
Tokyo, JP
CEO
Tomohiro Noda
Website
change-jp.com
IPO
2016-09-28
ISIN JP3507750002
Description
Established in Tokyo, Japan, in 2003, Change Inc. provides IT human resources development and training services throughout Japan. The company offers educational programs that utilize core technologies and toolkits across a wide range of advanced digital fields. These encompass areas such as artificial intelligence, robotics, the Internet of Things, voice-enabled internet, mobility solutions, big data, cloud computing, cybersecurity, and projects focused on modern IT transformation.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
JPY968.00
+9.00 (+0.94%)
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Volume Profile
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Liquidity & share structure
Average Volume
286.2K
Beta
0.05
Float Shares
29.62M
Free Float %
42.6%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +0.54% | +1.09% | -0.21% | -8.00% | -12.17% | -6.90% | -23.37% | -59.00% | -68.78% | +383.64% | +383.64% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
968.00
DCF (Unlevered)
13,569.97
+1,301.9%
DCF (Levered)
8,693.80
+798.1%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
| Rating | 2024-11 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 0 | 0 |
| Hold | 0 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
2.28
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
7 / 10
Strong MOAT
Composite Rating
A
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
4 / 5
High
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
4 / 5
High
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
-
Revenue growth Information Technology Services: +10.1%+13.9% ★ Q1'26: -1.3% (vs Q1'25)
-
EPS growth Information Technology Services: +16.7%-7.1% Q1'26: +107.6% (vs Q1'25)
-
FCF margin FCF growth · Information Technology Services: +32.8%+12.5% Q1'26: +22.2% (vs Q1'25)
-
EBIT margin Information Technology Services: +9.0%+20.9% ★ Q1'26: +5.1% (vs Q1'25)
-
ROIC Information Technology Services: +9.5%+12.5% ★ Q1'26: +3.4% (vs Q1'25)
-
Share dilution Information Technology Services: +0.0%-0.9% ★ Q1'26: +0.5% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Information Technology Services: -0.83×2.13× Q1'26: 6.08× (vs Q1'25)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Mar 2017 actual |
Mar 2018 actual |
Mar 2019 actual |
Mar 2020 actual |
Mar 2021 actual |
Mar 2022 actual |
Mar 2023 actual |
Mar 2024 actual |
Mar 2025 actual |
Mar 2026 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
1.98B
est: 1.52B (+30.3%)
|
2.60B
est: 2.20B (+18.4%)
|
5.99B
est: 2.70B (+121.9%)
|
10.54B
est: 3.20B (+229.4%)
|
20.28B
est: 11.20B (+81.1%)
|
15.90B
est.
|
20.02B
est: 21.00B (-4.7%)
|
37.02B
est: 33.90B (+9.2%)
|
46.39B
est: 38.75B (+19.7%)
|
38.65B
38.65B – 38.65B
-0.2% YoY
|
| EBITDA |
344.53M
est: 497.82M (-30.8%)
|
540.38M
est: 720.53M (-25.0%)
|
1.35B
est: 884.29M (+53.2%)
|
4.78B
est: 1.05B (+355.6%)
|
9.85B
est: 3.67B (+168.6%)
|
5.21B
est.
|
6.34B
est: 6.88B (-7.8%)
|
11.43B
est: 12.80B (-10.7%)
|
15.01B
est: 13.13B (+14.3%)
|
13.10B
13.10B – 13.10B
-0.2% YoY
|
| EBIT |
331.29M
est: 431.02M (-23.1%)
|
513.53M
est: 623.85M (-17.7%)
|
1.01B
est: 765.63M (+31.7%)
|
4.20B
est: 907.42M (+363.1%)
|
9.29B
est: 3.18B (+192.6%)
|
4.51B
est.
|
5.37B
est: 5.95B (-9.8%)
|
9.60B
est: 11.23B (-14.5%)
|
12.63B
est: 11.37B (+11.0%)
|
11.34B
11.34B – 11.34B
-0.2% YoY
|
| Net Income |
229.93M
est: 179.37M (+28.2%)
|
343.65M
est: 383.12M (-10.3%)
|
476.55M
est: 496.73M (-4.1%)
|
2.05B
est: 568.02M (+260.8%)
|
6.19B
est: 1.73B (+258.1%)
|
4.08B
est.
|
3.86B
est: 4.75B (-18.9%)
|
4.26B
est: 8.25B (-48.3%)
|
7.53B
est: 9.33B (-19.3%)
|
9.00B
9.00B – 9.00B
-3.5% YoY
|
| SGA |
458.92M
est: 386.70M (+18.7%)
|
489.20M
est: 559.70M (-12.6%)
|
2.94B
est: 686.90M (+327.4%)
|
3.63B
est: 814.10M (+345.3%)
|
6.44B
est: 2.85B (+126.2%)
|
4.05B
est.
|
6.80B
est: 5.34B (+27.2%)
|
12.66B
est: 10.89B (+16.3%)
|
12.18B
est: 12.39B (-1.7%)
|
12.36B
12.36B – 12.36B
-0.2% YoY
|
| EPS |
4.47
est: 2.44 (+83.4%)
|
6.41
est: 5.21 (+23.1%)
|
4.12
est: 6.75 (-39.0%)
|
32.53
est: 7.72 (+321.4%)
|
85.62
est: 23.48 (+264.7%)
|
55.40
est.
|
53.31
est: 64.60 (-17.5%)
|
58.90
est: 117.50 (-49.9%)
|
107.49
est: 134.10 (-19.8%)
|
129.38
129.38 – 129.38
-3.5% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-15 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-14 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-13 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-12 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-11 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-08 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-07 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-05-01 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-30 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-28 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-27 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-24 | A | 4/5 | 5/5 | 4/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-23 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-22 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-21 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-20 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-17 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
| 2026-04-16 | A- | 4/5 | 5/5 | 3/5 | 4/5 | 1/5 | 4/5 | 4/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
7.26B
OE per share TTM
104.21
Owner's Yield
11.27%
Maintenance CapEx ratio
383.98%
Maint CapEx / Avg PPE
6.0%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 38 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | iShares Digital Security UCITS ETF LOCK.L | 0.05% | 922.0K | 0.40% |
| 2 | iShares Digital Security UCITS ETF IS4S.DE | 0.05% | 921.1K | 0.40% |
| 3 | iShares Smart City Infrastructure UCITS ETF CT2B.AS | 0.04% | 17.7K | 0.40% |
| 4 | iShares Smart City Infrastructure UCITS ETF CITY.AS | 0.04% | 149.5K | 0.40% |
| 5 | WisdomTree Japan SmallCap Dividend Fund DFJ | 0.04% | 135.2K | 0.58% |
| 6 | iShares International Developed Small Cap Value Factor ETF ISVL | 0.02% | 71.6K | 0.31% |
| 7 | State Street SPDR S&P International Small Cap ETF GWX | 0.02% | 131.8K | 0.40% |
| 8 | WisdomTree International Equity Fund DWM | 0.01% | 67.5K | 0.48% |
| 9 | Dimensional - International Small Cap ETF DFIS | 0.01% | 522.6K | 0.39% |
| 10 | Schwab International Small-Cap Equity ETF SCHC | 0.01% | 445.4K | 0.06% |
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
10.34M
Shares Outstanding
69.58M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Akira Itoh | Executive Vice President & Director | — | male |
| Kenji Kaneda | Executive Officer of NEW-IT | — | male |
| Masumi Kizawa | Executive Officer of Publitech Business | — | — |
| Norimitsu Takahashi | Executive Officer of NEW-IT | — | male |
| Tetsuya Ishihara | Executive Officer of Next Learning Experience | — | male |
| Tomohiro Noda | Representative Director & President | — | male |
| Yoshihiro Izumi | Executive Officer of Marketing | — | — |
| Yoshihiro Oide | Director, Executive Officer & GM of New-IT Business | — | — |
| Yoshihisa Jimbo | Founder. & Executive Officer of Human Resources and IT | — | male |
| Yutaka Yamada | Chief Financial Officer, Head of Corporate Unit & Director | — | male |
ESG Score History
No data available for this company.
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for 3962.T
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
