Added to YB: 2025-03-07
Pitch date: 2025-03-04
5253.T [bullish]
COVER Corporation
+4.29%
current return
Author Info
Nocturnal Research is a generalist on the buyside that mainly covers global internet companies. Sign up for the newsletter.
Company Info
COVER Corporation engages in the virtual platform, VTuber production, and media mix businesses. The company provides VTuber Production, an agency that produces VTubers; Media Mix offers intellectual property for VTubers through planning and development of merchandise, licenses/tie-ins, comics, animation, and other activities; and Metaverse develops Holoearth, focusing on sandbox games that allow users to act freely in a virtual space.
Market Cap
JPY 174.8B
Pitch Price
JPY 2.7K
Price Target
5.0K (+90%)
Dividend
N/A
Sector
Entertainment
Category
growth
Japan's Next Great Entertainment Company - COVER Corporation
5253.T: VTuber leader w/ 41% market share. 30% rev CAGR thru FY28, 720bps EBIT margin expansion FY26-28. ¥4,950 PT (Mar '27), 95% upside. Risks: FY26 EBIT guide, talent exits, fan spend, branch closures. Upside: new branches, games, HOLOSTARS growth. 43% EPS CAGR. 24% EBIT margin FY28.
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