Earnings quality
Compare earnings and operating cash flow for earnings quality.
KLab Inc.
Ticker 3656 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-03-26 · Period end 2025-12-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is -19.0%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin-19.0%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
ＫＬａｂ株式会社 is a Japanese listed company. Its reportable segments include Games, Operating Segments Not Included In, Other, Description Of.
- Games
- Operating Segments Not Included In
- Other
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Games · Operating Segments Not Included In · Other · Description Of · Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Compare trends
No phone/email found in this filing · Filing date 2026-03-26
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | ¥8.3B | ¥6.9B |
| Cost of sales* | ¥7.2B | ¥6.0B |
| Gross profit | ¥1.1B | ¥830.5M |
| Operating profit (loss) | -¥1.3B | -¥1.3B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥618.1M | ¥126.2M |
| Profit (loss) | -¥2.8B | -¥4.2B |
| Profit (loss) attributable to owners | -¥2.8B | -¥4.2B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash and cash equivalents | ¥1.6B | ¥5.2B |
| Current assets | ¥4.4B | ¥8.1B |
| Non-current assets | ¥11.4B | ¥5.1B |
| Total assets | ¥15.8B | ¥13.3B |
| Short-term borrowings | ¥800.0M | — |
| Current liabilities | ¥4.7B | ¥2.9B |
| Non-current liabilities* | ¥727.3M | ¥106.7M |
| Total liabilities | ¥5.4B | ¥3.0B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash flows from operating activities | -¥138.2M | -¥1.8B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥555.1M | ¥2.9B |
| Net increase (decrease) in cash | -¥606.1M | ¥3.6B |
| Cash at end of period | ¥1.6B | ¥5.2B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | ¥23.9B | ¥16.9B | ¥10.7B | ¥8.3B | ¥6.9B | |
| Operating profit | -¥1.0B | -¥73.5M | -¥852.7M | -¥1.3B | -¥1.4B | |
| Profit to owners | — | — | — | -¥2.8B | -¥4.2B | |
| Total assets | ¥18.7B | ¥20.9B | ¥17.8B | ¥15.8B | ¥13.3B | |
| Cash & equivalents | — | — | ¥2.2B | ¥1.6B | ¥5.2B | |
| Owners’ equity | ¥12.8B | ¥13.2B | ¥11.7B | ¥10.4B | ¥10.3B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from ¥8.3B to ¥6.9B (▼ -17.5%), so the top line did not break. Gross profit only slipped from ¥1.1B to ¥830.5M, while operating profit swung from -¥1.3B to -¥1.3B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still -¥1.8B (prior -¥138.2M), and cash on the balance sheet rose to ¥5.2B from ¥1.6B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥3.0B while owners’ equity fell to —. ROE moved from -25.6% to -40.6%, and the equity ratio from 65.6% to 76.9%. Employee count is 322 vs 459 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
Was this page helpful?
Source: EDINET S100XU7P
(ＫＬａｂ株式会社), period end 2025-12-31.