New Risk • Jun 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.6b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.4% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (JP¥15.6b market cap, or US$97.7m). Tillkännagivande • May 27
ELEMENTS, Inc. to Report Q2, 2026 Results on Jul 14, 2026 ELEMENTS, Inc. announced that they will report Q2, 2026 results on Jul 14, 2026 Reported Earnings • Apr 14
First quarter 2026 earnings released: EPS: JP¥3.68 (vs JP¥2.08 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥3.68 (up from JP¥2.08 loss in 1Q 2025). Revenue: JP¥1.29b (up 81% from 1Q 2025). Net income: JP¥100.0m (up JP¥151.0m from 1Q 2025). Profit margin: 7.7% (up from net loss in 1Q 2025). Tillkännagivande • Apr 03
ELEMENTS, Inc. to Report Q1, 2026 Results on Apr 13, 2026 ELEMENTS, Inc. announced that they will report Q1, 2026 results on Apr 13, 2026 New Risk • Mar 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.4b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risk Market cap is less than US$100m (JP¥15.4b market cap, or US$96.9m). Reported Earnings • Mar 03
Full year 2025 earnings released: JP¥28.11 loss per share (vs JP¥5.62 loss in FY 2024) Full year 2025 results: JP¥28.11 loss per share (further deteriorated from JP¥5.62 loss in FY 2024). Revenue: JP¥3.90b (up 53% from FY 2024). Net loss: JP¥700.0m (loss widened 430% from FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 14
Full year 2025 earnings released: JP¥28.11 loss per share (vs JP¥5.62 loss in FY 2024) Full year 2025 results: JP¥28.11 loss per share (further deteriorated from JP¥5.62 loss in FY 2024). Revenue: JP¥3.90b (up 53% from FY 2024). Net loss: JP¥700.0m (loss widened 430% from FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Tillkännagivande • Jan 13
ELEMENTS, Inc., Annual General Meeting, Feb 26, 2026 ELEMENTS, Inc., Annual General Meeting, Feb 26, 2026. Tillkännagivande • Nov 27
ELEMENTS, Inc. to Report Fiscal Year 2025 Results on Jan 13, 2026 ELEMENTS, Inc. announced that they will report fiscal year 2025 results on Jan 13, 2026 New Risk • Nov 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.5b (US$98.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risk Market cap is less than US$100m (JP¥15.5b market cap, or US$98.3m). Reported Earnings • Oct 15
Third quarter 2025 earnings released: JP¥6.93 loss per share (vs JP¥3.20 loss in 3Q 2024) Third quarter 2025 results: JP¥6.93 loss per share (further deteriorated from JP¥3.20 loss in 3Q 2024). Revenue: JP¥1.03b (up 59% from 3Q 2024). Net loss: JP¥171.0m (loss widened 122% from 3Q 2024). Tillkännagivande • Sep 01
ELEMENTS, Inc. to Report Q3, 2025 Results on Oct 14, 2025 ELEMENTS, Inc. announced that they will report Q3, 2025 results on Oct 14, 2025 Reported Earnings • Jul 15
Second quarter 2025 earnings released: JP¥16.25 loss per share (vs JP¥2.35 profit in 2Q 2024) Second quarter 2025 results: JP¥16.25 loss per share (down from JP¥2.35 profit in 2Q 2024). Revenue: JP¥975.0m (up 26% from 2Q 2024). Net loss: JP¥400.0m (down JP¥455.0m from profit in 2Q 2024). Tillkännagivande • May 24
ELEMENTS, Inc. to Report Q2, 2025 Results on Jul 14, 2025 ELEMENTS, Inc. announced that they will report Q2, 2025 results on Jul 14, 2025 Reported Earnings • Apr 15
First quarter 2025 earnings released: JP¥2.08 loss per share (vs JP¥0.73 loss in 1Q 2024) First quarter 2025 results: JP¥2.08 loss per share (further deteriorated from JP¥0.73 loss in 1Q 2024). Revenue: JP¥715.0m (up 66% from 1Q 2024). Net loss: JP¥51.0m (loss widened 219% from 1Q 2024). Tillkännagivande • Mar 15
ELEMENTS, Inc. to Report Q1, 2025 Results on Apr 14, 2025 ELEMENTS, Inc. announced that they will report Q1, 2025 results on Apr 14, 2025 Reported Earnings • Mar 04
Full year 2024 earnings released: JP¥5.62 loss per share (vs JP¥16.04 loss in FY 2023) Full year 2024 results: JP¥5.62 loss per share (improved from JP¥16.04 loss in FY 2023). Revenue: JP¥2.55b (up 31% from FY 2023). Net loss: JP¥132.0m (loss narrowed 61% from FY 2023). Reported Earnings • Jan 15
Full year 2024 earnings released: JP¥5.62 loss per share (vs JP¥16.04 loss in FY 2023) Full year 2024 results: JP¥5.62 loss per share (improved from JP¥16.04 loss in FY 2023). Revenue: JP¥2.55b (up 31% from FY 2023). Net loss: JP¥132.0m (loss narrowed 61% from FY 2023). Tillkännagivande • Jan 15
ELEMENTS, Inc. (TSE:5246) agreed to acquire 95.01% stake in Polarify Inc. from Sumitomo Mitsui Financial Group, Inc. (TSE:8316), Daon, Inc. and NTT DATA, Inc. for ¥1.5 billion ELEMENTS, Inc. (TSE:5246) agreed to acquire 95.01% stake in Polarify Inc. from Sumitomo Mitsui Financial Group, Inc. (TSE:8316), Daon, Inc. and NTT DATA, Inc. for ¥1.5 billion on January 14, 2025. A cash consideration of ¥1.54 billion will be paid by ELEMENTS, Inc. As part of consideration, ¥1.54 billion is paid towards common equity of Polarify Inc.
For the period ending March 31, 2024, Polarify Inc. reported total revenue of ¥1.56 billion, operating loss of ¥659 million and net loss of ¥660 million. As of March 31, 2024, Polarify Inc. reported total assets of ¥2.24 billion and total common equity of ¥1.72 billion.
The expected completion of the transaction is March 27, 2025. Tillkännagivande • Jan 14
ELEMENTS, Inc., Annual General Meeting, Feb 27, 2025 ELEMENTS, Inc., Annual General Meeting, Feb 27, 2025. Tillkännagivande • Nov 30
ELEMENTS, Inc. to Report Fiscal Year 2024 Results on Jan 14, 2025 ELEMENTS, Inc. announced that they will report fiscal year 2024 results on Jan 14, 2025 Reported Earnings • Oct 16
Third quarter 2024 earnings released: JP¥3.20 loss per share (vs JP¥3.51 profit in 3Q 2023) Third quarter 2024 results: JP¥3.20 loss per share (down from JP¥3.51 profit in 3Q 2023). Revenue: JP¥649.0m (up 22% from 3Q 2023). Net loss: JP¥77.0m (down 204% from profit in 3Q 2023). Tillkännagivande • Aug 27
ELEMENTS, Inc. to Report Q3, 2024 Results on Oct 11, 2024 ELEMENTS, Inc. announced that they will report Q3, 2024 results on Oct 11, 2024 Reported Earnings • Jul 16
Second quarter 2024 earnings released: EPS: JP¥2.35 (vs JP¥3.51 in 2Q 2023) Second quarter 2024 results: EPS: JP¥2.35 (down from JP¥3.51 in 2Q 2023). Revenue: JP¥776.0m (up 46% from 2Q 2023). Net income: JP¥55.0m (down 26% from 2Q 2023). Profit margin: 7.1% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Board Change • Jun 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Shinichi Inoue was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 29
ELEMENTS, Inc. to Report Q2, 2024 Results on Jul 12, 2024 ELEMENTS, Inc. announced that they will report Q2, 2024 results on Jul 12, 2024 Reported Earnings • Apr 14
First quarter 2024 earnings released: JP¥0.73 loss per share (vs JP¥7.33 loss in 1Q 2023) First quarter 2024 results: JP¥0.73 loss per share (improved from JP¥7.33 loss in 1Q 2023). Revenue: JP¥432.0m (up 9.6% from 1Q 2023). Net loss: JP¥16.0m (loss narrowed 87% from 1Q 2023). Tillkännagivande • Mar 07
ELEMENTS, Inc. to Report Q1, 2024 Results on Apr 12, 2024 ELEMENTS, Inc. announced that they will report Q1, 2024 results on Apr 12, 2024 Tillkännagivande • Jan 26
ELEMENTS, Inc. (TSE:5246) agreed to acquire 50.1% stake in AD Medica Inc. for ¥625 million. ELEMENTS, Inc. (TSE:5246) agreed to acquire 50.1% stake in AD Medica Inc. for ¥625 million on January 25, 2024. The consideration consists of ¥625 million towards 338 shares. Kazuhiro Kawamura holds 70.1% stake and AD Medica Inc. holds 29.9% stake in AD Medica. The transaction is expected to complete by February 29, 2024. Tillkännagivande • Jan 17
ELEMENTS, Inc., Annual General Meeting, Feb 28, 2024 ELEMENTS, Inc., Annual General Meeting, Feb 28, 2024. New Risk • Jan 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Shareholders have been diluted in the past year (9.3% increase in shares outstanding). Market cap is less than US$100m (JP¥9.12b market cap, or US$62.6m). Tillkännagivande • Nov 01
ELEMENTS, Inc. to Report Fiscal Year 2023 Results on Jan 15, 2024 ELEMENTS, Inc. announced that they will report fiscal year 2023 results on Jan 15, 2024 Tillkännagivande • Sep 05
ELEMENTS, Inc. announced that it has received ¥1.4707935 billion in funding from CVI Investments, Inc. On September 4, 2023, ELEMENTS, Inc. closed the transaction. New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended November 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported November 2022 fiscal period end). Market cap is less than US$100m (JP¥12.3b market cap, or US$83.9m). Tillkännagivande • Aug 18
ELEMENTS, Inc. announced that it expects to receive ¥1.4707935 billion in funding from CVI Investments, Inc. ELEMENTS, Inc. announced a private placement to issue 900,000 shares at an issue price of ¥585 per share for the gross proceed of ¥526,500,000, 30 Series 24 bonds at an issue price of ¥31,200,000 for the gross proceeds of ¥936,000,000 and 9,000 units Series 25 stock acquisition rights at an issue price of ¥921.5 per rights for the gross proceeds of ¥8,293,500; aggregate gross proceeds of ¥1,470,793,500 on August 17, 2023. The transaction will include participation from new investor CVI Investments, Inc. The transaction is expected to close on September 4, 2023. The redemption date of the bonds is September 9, 2026 and the note bears no interest. The bonds are 100% convertible into 2,880,000 shares at fixed conversion price of ¥780. Reported Earnings • Jan 17
Full year 2022 earnings released: JP¥39.43 loss per share (vs JP¥42.77 loss in FY 2021) Full year 2022 results: JP¥39.43 loss per share (improved from JP¥42.77 loss in FY 2021). Revenue: JP¥1.65b (up 21% from FY 2021). Net loss: JP¥561.0m (loss narrowed 1.2% from FY 2021). Tillkännagivande • Jan 05
ELEMENTS, Inc. to Report Fiscal Year 2022 Results on Jan 16, 2023 ELEMENTS, Inc. announced that they will report fiscal year 2022 results on Jan 16, 2023 Tillkännagivande • Dec 28
ELEMENTS, Inc. has completed an IPO in the amount of ¥726.112 million. ELEMENTS, Inc. has completed an IPO in the amount of ¥726.112 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,538,200
Price\Range: ¥160
Transaction Features: Sponsor Backed Offering 
