Money Forward Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Yosuke Tsuji

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	12yrs
CEO ownership	16.6%
Management average tenure	6.8yrs
Board average tenure	6.3yrs

Recent management updates

Recent updates

CEO

Yosuke Tsuji (48 yo)

12yrs

Tenure

Mr. Yosuke Tsuji has been President, Chief Executive Officer at Representative Director at Money Forward, Inc. since November 2012. Mr. Tsuji is an insider at Money Forward, Inc.

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Yosuke Tsuji	President	12yrs	no data	16.63% € 270.0m
Naoya Kanesaka	Group Executive Officer	9.4yrs	no data	0.21% € 3.4m
Tomoyuki Kinoshita	COO of Money Forward Kessai	no data	no data	no data
Shun Matsuoka	Group Executive Officer & Accounting Department Manager	no data	no data	no data
Takuya Nakade	Group Executive Officer	7.9yrs	no data	0.074% € 1.2m
Marie Oshioka	Head of IR - Corporate Planning Department	no data	no data	no data
Hirokazu Ban	Group Executive Officer & Chief Compliance Officer	no data	no data	no data
Masakazu Sekita	Group Executive Officer & Chief Legal Officer	2.9yrs	no data	no data
Toshio Taki	Group Executive Officer	no data	no data	no data
Yumiko Nagao	Group Executive Officer	no data	no data	no data
Chiaki Ishihara	Group Executive Officer	1.8yrs	no data	no data
Masanobu Takeda	Group Executive Officer & Director	5.8yrs	no data	0.035% € 561.0k

6.8yrs

Average Tenure

48yo

Average Age

Experienced Management: 47D's management team is seasoned and experienced (6.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Yosuke Tsuji	President	12yrs	no data	16.63% € 270.0m
Naoya Kanesaka	Group Executive Officer	7.8yrs	no data	0.21% € 3.4m
Takuya Nakade	Group Executive Officer	6.8yrs	no data	0.074% € 1.2m
Masanobu Takeda	Group Executive Officer & Director	5.8yrs	no data	0.035% € 561.0k
Masaaki Tanaka	Independent Outside Director	6.8yrs	no data	0.018% € 299.4k
Akira Kurabayashi	Independent Outside Director	6.8yrs	no data	0.31% € 5.0m
Gen Miyazawa	Independent Outside Director	2.8yrs	no data	0.0023% € 37.5k
Masami Hatakeyama	Outside Audit & Supervisory Board Member	1.8yrs	no data	no data
Yukino Kikuma	Independent Outside Director	less than a year	no data	no data
Hidetoshi Uriu	Outside Audit & Supervisory Board Member	6.8yrs	no data	no data
Hiroaki Yasutake	Independent Outside Director	2.8yrs	no data	0.0010% € 16.6k
Ryu Suliawan	Independent Outside Director	less than a year	no data	no data

6.3yrs

Average Tenure

48yo

Average Age

Experienced Board: 47D's board of directors are considered experienced (6.3 years average tenure).

Money Forward Management

Management criteria checks 2/4

Key information

Recent management updates

Yozo Ueda to Resign as External Audit & Supervisory Board Member of Money Forward, Inc

High number of new directors

Money Forward, Inc., Annual General Meeting, Feb 28, 2024

Money Forward, Inc. Announces Etsuko Okajima to Resign as External Director

Money Forward, Inc., Annual General Meeting, Feb 22, 2023

Money Forward, Inc. Announces Change in Management Structure

Recent updates

Yozo Ueda to Resign as External Audit & Supervisory Board Member of Money Forward, Inc

Money Forward, Inc. to Report Fiscal Year 2024 Results on Jan 14, 2025

Third quarter 2024 earnings released: JP¥20.45 loss per share (vs JP¥28.73 loss in 3Q 2023)

Money Forward, Inc. Provides Consolidated Earnings Forecast for the Fiscal Year Ending November 30, 2024

Second quarter 2024 earnings released: JP¥23.51 loss per share (vs JP¥31.06 loss in 2Q 2023)

New minor risk - Share price stability

Now 20% undervalued after recent price drop

First quarter 2024 earnings released: JP¥24.32 loss per share (vs JP¥31.71 loss in 1Q 2023)

Money Forward, Inc. (TSE:3994) agreed to acquire 20.3% stake in Caster Co.Ltd. (TSE:9331) from various investor for ¥470 million.

High number of new directors

Full year 2023 earnings released: JP¥117 loss per share (vs JP¥176 loss in FY 2022)

Money Forward, Inc., Annual General Meeting, Feb 28, 2024

Money Forward, Inc. Announces Etsuko Okajima to Resign as External Director

Money Forward, Inc. to Report Q3, 2024 Results on Oct 11, 2024

Money Forward, Inc. to Report Fiscal Year 2023 Results on Jan 12, 2024

New minor risk - Share price stability

Money Forward, Inc. Announces Consolidated Earnings Forecast for the Fourth Quarter Ending November 30, 2023

Third quarter 2023 earnings released: JP¥28.73 loss per share (vs JP¥64.46 loss in 3Q 2022)

Money Forward, Inc. Revises Consolidated Earnings Guidance for the Year Ending November 30, 2023

Second quarter 2023 earnings released: JP¥31.06 loss per share (vs JP¥41.49 loss in 2Q 2022)

First quarter 2023 earnings released: JP¥31.71 loss per share (vs JP¥31.27 loss in 1Q 2022)

Now 20% undervalued

Forecast to breakeven in 2025

Forecast to breakeven in 2025

Money Forward, Inc. Provides Earnings Guidance for the First Quarter Ending February 28, 2023 and Fiscal Year 2023

Full year 2022 earnings released: JP¥176 loss per share (vs JP¥29.97 loss in FY 2021)

Money Forward, Inc., Annual General Meeting, Feb 22, 2023

Forecast to breakeven in 2025

Money Forward, Inc. Announces Change in Management Structure

Money Forward, Inc. to Report Q3, 2023 Results on Oct 13, 2023

Money Forward, Inc. to Report Fiscal Year 2022 Results on Jan 16, 2023

Now 24% undervalued

Money Forward, Inc. Revises Earnings Forecast for the Nine Months Ended August 31, 2022

No longer forecast to breakeven

Money Forward, Inc. Provides Consolidated Earnings Guidance for the Three Months Ending August 31, 2022 and Full Year Ending November 30, 2022

Second quarter 2022 earnings released: JP¥41.49 loss per share (vs JP¥0.92 loss in 2Q 2021)

CEO

Tenure

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age