Professional
Added to YB: 2026-08-10
Pitch date: 2026-08-05
3661.T [neutral]
m-up holdings, Inc.
+1.14%
current return
Author Info
Founder of Smoak Capital who shares analysis on stocks on Twitter and in his fund letter. Follow on Twitter.
Company Info
m-up holdings, Inc. engages in the development and distribution of mobile and PC content, and e-commerce businesses in Japan.
Market Cap
JPY 55.3B
Pitch Price
JPY 787.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.79
P/E
19.06
EV/Sales
1.28
Sector
Software
Category
value
Smoak Capital Portfolio Holding: M-up holdings, Inc.
3661.T (holding update): Dominant Japan fan club operator; FY22+ 25% rev/40% OI CAGR, ROE 30%+, <1% churn, only ever lost 1 artist. Shares halved on AI-disruption fears & withheld FY27 guidance (later gave 13.5% rev/16% EBIT growth). ¥20B cash vs ¥56B cap, 3-4% shareholder yield, buybacks. COGS quirk understates FCF. 9x EV/FCF, 7.8x EV/FwdFCF — priced as if growth stops.
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