Added to YB: 2026-05-04
Pitch date: 2026-04-30
4177.T [bullish]
i-plug,Inc.
+1.42%
current return
Author Info
No bio for this author
Company Info
i-plug,Inc. provides graduate direct recruiting services. The company offers OfferBox, a direct recruiting service specializing in new graduates that allows companies to send offers directly to students; and eF-1G, an aptitude test used for human resource flow.
Market Cap
JPY 5.9B
Pitch Price
JPY 1.5K
Price Target
7.8K
Dividend
N/A
EV/EBITDA
4.00
P/E
13.58
EV/Sales
0.51
Sector
Professional Services
Category
value
i-plug (TSE: 4177): Japan's Dominant New-Graduate Recruiting Platform at ca. 11x Earnings
4177.T: Japan's dominant new-grad recruiting platform (OfferBox, 260K students, 18K+ employers) w/ moat from 2-sided network effect. Structural tailwind: 1.75 jobs/applicant, 908K pop decline 2024, 87% cos can't find talent. 75-80% recurring rev, 28% growth. Net cash balance, 6.7% div yield. 11x P/E despite 14.5% EBITDA margin recovery post-FY24 impairment. FY28 EPS est ¥390, Fair PE 20x = ¥7,800 PT (~55% IRR incl div). Risks: illiquidity, Recruit competition, AI disruption, JPY exposure.
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