GMO internet group, Inc.

TSE:9449 Stock Report

Market Cap: JP¥314.8b

GMO internet group Management

Management criteria checks 4/4

GMO internet group's CEO is Masatoshi Kumagai, appointed in Jun 2016, has a tenure of 9.92 years. total yearly compensation is ¥127.00M, comprised of 100% salary and 0% bonuses, including company stock and options. directly owns 45.28% of the company’s shares, worth ¥142.52B. The average tenure of the management team and the board of directors is 9.9 years and 10.2 years respectively.

Key information

Masatoshi Kumagai

Chief executive officer

JP¥127.0m

Total compensation

CEO salary percentage100.00%
CEO tenure9.9yrs
CEO ownership45.3%
Management average tenure9.9yrs
Board average tenure10.2yrs

Recent management updates

Recent updates

Narrative Update • May 02

9449: AI Alliance And GPU Cloud Investment Will Drive Upside-Skewed Outlook

Analysts kept their fair value estimate for GMO Internet Group steady at ¥4,122, citing unchanged assumptions for the discount rate, revenue growth, profit margin, and future P/E as the basis for leaving price targets aligned with prior views. What's in the News Board meeting on April 10, 2026 to consider a secondary offering of shares in consolidated subsidiary GMO Internet, Inc.
Narrative Update • Apr 17

9449: AI Alliance And GPU Cloud Expansion Will Drive A More Upside-Skewed Outlook

Analysts now see GMO Internet Group’s fair value edging from ¥4,062.5 to ¥4,122.0. This reflects slightly adjusted assumptions on the discount rate, revenue growth, profit margins, and a lower future P/E of 17.22 versus 18.51 previously. What's in the News Board meeting on April 10, 2026 to consider a secondary offering of shares in consolidated subsidiary GMO Internet, Inc., via an underwriting syndicate led by joint lead managers (Key Developments).
Narrative Update • Apr 03

9449: Share Repurchases And AI Fintech Expansion Will Support Future Returns

Analysts have maintained their ¥5,000 price target for GMO Internet Group, citing slightly revised assumptions for revenue growth, profit margins, and a lower future P/E multiple as the main factors behind the updated view. What's in the News Board meeting on March 19, 2026, to consider continuation of the policy toward large scale purchases of the company’s shares, described as takeover defense measures (Board Meeting).
Narrative Update • Mar 20

9449: Buybacks And AI Alliances Will Shape A More Upside-Skewed Outlook

Analysts have kept their average price target for GMO Internet Group unchanged at ¥4,062.50. They cite slightly higher modeled revenue growth of 8.75%, a marginally stronger profit margin of 7.84%, and a modestly higher future P/E assumption of 18.51x in their updated forecasts.
Narrative Update • Mar 06

9449: Share Repurchases And New AI Authorizations Will Support Future Shareholder Returns

Analysts have maintained their fair value estimate for GMO Internet Group at ¥5,000. Only minor adjustments have been made to assumptions on revenue growth, profit margins, and the future P/E used to support the unchanged price target.
Narrative Update • Feb 19

9449: Share Repurchases And AI Expansion Will Support Stronger Shareholder Returns

Analysts have kept their ¥5,000 price target on GMO Internet Group steady, citing a slightly lower discount rate, a modestly softer revenue growth outlook, and a small improvement in expected profit margin and future P/E assumptions as reasons for only fine tuning their models rather than changing the headline target. What's in the News The board approved a proposal to amend the Articles of Incorporation, aiming to expand and reinforce operations in AI, robotics and cybersecurity, and to add new purposes related to insurance and small-amount and short-term insurance businesses, subject to approval at the FY2025 AGM on March 19, 2026 (Changes in Company Bylaws/Rules, Feb 16, 2026).
Narrative Update • Feb 05

9449: Buybacks And Alliance Plans Will Guide A Measured Outlook

Analysts have kept their fair value estimate for GMO Internet Group unchanged at ¥4,062.50 while modestly adjusting inputs such as the discount rate and assumed future P/E. This reflects updated views on the stock's risk profile rather than a shift in their headline price target.
Narrative Update • Jan 22

9449: Share Buybacks And Alliance Plans Will Shape A Balanced Outlook

Analysts have lifted their fair value estimate for GMO Internet Group from ¥3,670 to ¥4,062.50, citing adjustments to the discount rate, revenue growth, profit margin assumptions and a higher future P/E as the main drivers of this change. What's in the News The Board of Directors authorized a share repurchase program on November 25, 2025, allowing GMO Internet Group to buy back up to 4,200,000 shares, or 4.14% of issued share capital, for up to ¥10,000 million.
Narrative Update • Jan 07

9449: Share Repurchases And Alliance Moves Will Support Stronger Shareholder Returns

Analysts have lifted their price target on GMO Internet Group to ¥5,000, citing updated assumptions for slightly higher revenue growth, a modestly lower profit margin, and a marginally higher future P/E multiple. What's in the News The Board of Directors authorized a share repurchase program on November 25, 2025, allowing GMO Internet Group to buy back up to 4,200,000 shares, or 4.14% of issued share capital, for up to ¥10,000 million, with the program running through February 12, 2026 (Key Developments).
Narrative Update • Dec 13

9449: Share Buybacks And Higher Margins Will Drive Stronger Shareholder Returns

Analysts have raised their fair value estimate for GMO Internet Group from ¥4,500 to ¥5,000, citing a modest uplift in expected profit margins and a slightly higher justified future earnings multiple, despite largely unchanged growth assumptions and discount rate. What's in the News The Board of Directors authorized a new share buyback plan on November 25, 2025, signaling ongoing commitment to shareholder returns (Key Developments).
Analysis Article • Nov 03

GMO internet group, Inc. (TSE:9449) Shares Could Be 45% Below Their Intrinsic Value Estimate

Key Insights Using the 2 Stage Free Cash Flow to Equity, GMO internet group fair value estimate is JP¥6,260 GMO...
Analysis Article • Oct 16

Market Participants Recognise GMO internet group, Inc.'s (TSE:9449) Earnings

When close to half the companies in Japan have price-to-earnings ratios (or "P/E's") below 14x, you may consider GMO...
Analysis Article • Aug 05

Is There An Opportunity With GMO internet group, Inc.'s (TSE:9449) 40% Undervaluation?

TSE:9449 1 Year Share Price vs Fair Value Explore GMO internet group's Fair Values from the Community and select yours...
Analysis Article • Jul 10

Is GMO internet group (TSE:9449) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 19

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥14.00

GMO internet group, Inc. ( TSE:9449 ) has announced that it will pay a dividend of ¥14.00 per share on the 18th of...
Analysis Article • May 07

Why Investors Shouldn't Be Surprised By GMO internet group, Inc.'s (TSE:9449) 25% Share Price Surge

GMO internet group, Inc. ( TSE:9449 ) shareholders have had their patience rewarded with a 25% share price jump in the...
Analysis Article • Mar 20

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥14.00

GMO internet group, Inc.'s ( TSE:9449 ) investors are due to receive a payment of ¥14.00 per share on 17th of June...
Analysis Article • Mar 06

GMO internet group's (TSE:9449) Dividend Will Be ¥14.00

GMO internet group, Inc.'s ( TSE:9449 ) investors are due to receive a payment of ¥14.00 per share on 17th of June...
User avatar
New Narrative • Feb 23

Launch Of Net Security Project Will Address Global Cybersecurity Needs

The transition to a holding structure and security project launch can drive revenue growth by enhancing operational efficiency and creating new revenue streams.
Analysis Article • Dec 18

GMO internet group (TSE:9449) Has Announced A Dividend Of ¥12.30

The board of GMO internet group, Inc. ( TSE:9449 ) has announced that it will pay a dividend of ¥12.30 per share on the...
Analysis Article • Nov 08

Investors Interested In GMO internet group, Inc.'s (TSE:9449) Earnings

With a price-to-earnings (or "P/E") ratio of 18.1x GMO internet group, Inc. ( TSE:9449 ) may be sending bearish signals...
Analysis Article • Aug 06

It's Down 26% But GMO internet group, Inc. (TSE:9449) Could Be Riskier Than It Looks

GMO internet group, Inc. ( TSE:9449 ) shareholders that were waiting for something to happen have been dealt a blow...
Analysis Article • Jun 27

Is GMO internet group (TSE:9449) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Apr 19

With GMO internet group, Inc. (TSE:9449) It Looks Like You'll Get What You Pay For

GMO internet group, Inc.'s ( TSE:9449 ) price-to-earnings (or "P/E") ratio of 19.5x might make it look like a sell...
Analysis Article • Feb 29

GMO internet group (TSE:9449) Takes On Some Risk With Its Use Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

CEO Compensation Analysis

How has Masatoshi Kumagai's remuneration changed compared to GMO internet group's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025n/an/a

JP¥17b

Sep 30 2025n/an/a

JP¥17b

Jun 30 2025n/an/a

JP¥16b

Mar 31 2025n/an/a

JP¥13b

Dec 31 2024JP¥127mJP¥127m

JP¥13b

Sep 30 2024n/an/a

JP¥15b

Jun 30 2024n/an/a

JP¥16b

Mar 31 2024n/an/a

JP¥16b

Dec 31 2023JP¥126mJP¥126m

JP¥14b

Sep 30 2023n/an/a

JP¥9b

Jun 30 2023n/an/a

JP¥4b

Mar 31 2023n/an/a

JP¥11b

Dec 31 2022JP¥133mJP¥133m

JP¥13b

Sep 30 2022n/an/a

JP¥18b

Jun 30 2022n/an/a

JP¥23b

Mar 31 2022n/an/a

JP¥18b

Dec 31 2021JP¥236mJP¥125m

JP¥18b

Sep 30 2021n/an/a

JP¥17b

Jun 30 2021n/an/a

JP¥16b

Mar 31 2021n/an/a

JP¥14b

Dec 31 2020JP¥204mJP¥122m

JP¥10b

Sep 30 2020n/an/a

JP¥8b

Jun 30 2020n/an/a

JP¥8b

Mar 31 2020n/an/a

JP¥9b

Dec 31 2019JP¥119mJP¥119m

JP¥8b

Compensation vs Market: Masatoshi's total compensation ($USD810.13K) is about average for companies of similar size in the JP market ($USD848.76K).

Compensation vs Earnings: Masatoshi's compensation has been consistent with company performance over the past year.

CEO

Masatoshi Kumagai (62 yo)

9.9yrs
Tenure
JP¥127,000,000
Compensation

Mr. Masatoshi Kumagai was Chairman of Gmo Tech Holdings,Inc. until 2025. Mr. Kumagai serves as Chief Executive Officer of GMO Venture Tsushin Startup Support Co. Ltd.He serves as the Chairman of the Board...

Leadership Team

NamePositionTenureCompensationOwnership
Masatoshi Kumagai
Founder9.9yrsJP¥127.00m45.28%
¥ 142.5b
Masashi Yasuda
Executive VP7.3yrsJP¥134.00m0.039%
¥ 124.1m
Hiroyuki Nishiyama
EVP, Dep.to Grp CEO7.3yrsJP¥134.00m0.056%
¥ 175.1m
Yuki Kawasaki
Group Executive Officer & GM of Group Legal Department5.2yrsno datano data
Hirofumi Yamashita
Executive VP & Head of Group Systems Division17.3yrsJP¥127.00mno data
Katsumi Arisawa
Group Senior Managing Executive Officer & Head of Group Management Support Divisionno dataJP¥117.00mno data
Tadashi Ito
Group EVP17.3yrsJP¥133.00m0.14%
¥ 455.2m
Teruhiro Arai
Group Sr Mang Exe Off6.3yrsJP¥106.00mno data
Toshiaki Horiuchi
Sr. Managing Executive Officer & Head of Group Engineer Recruitment/Technology PR18.2yrsJP¥107.00mno data
Kimihiro Kodama
Group MEO and Head of Domain registration and sales & cloud rental server business17.3yrsno datano data
Issei Ainoura
Executive VPno dataJP¥189.00m0.0071%
¥ 22.3m
9.9yrs
Average Tenure
54yo
Average Age

Experienced Management: 9449's management team is seasoned and experienced (9.9 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Masatoshi Kumagai
Founder4.2yrsJP¥127.00m45.28%
¥ 142.5b
Masashi Yasuda
Executive VP24.2yrsJP¥134.00m0.039%
¥ 124.1m
Hiroyuki Nishiyama
EVP, Dep.to Grp CEO25.2yrsJP¥134.00m0.056%
¥ 175.1m
Tadashi Ito
Group EVP18.1yrsJP¥133.00m0.14%
¥ 455.2m
Issei Ainoura
Executive VP20.2yrsJP¥189.00m0.0071%
¥ 22.3m
Eiji Masuda
Independent Outside Director10.2yrsno data0.0010%
¥ 3.2m
Takashi Gunjikake
Independent Outside Director10.2yrsno data0.017%
¥ 54.1m
Hideyuki Matsui
Director3.2yrsno data0.0071%
¥ 22.3m
Junko Kotakemori
Independent Outside Directorless than a yearno datano data
10.2yrs
Average Tenure
61yo
Average Age

Experienced Board: 9449's board of directors are seasoned and experienced ( 10.2 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/08 11:40
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

GMO internet group, Inc. is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Keiichi YoneshimaBarclays
Yoshitaka NagaoBofA Global Research
null nullCLSA