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Technology Services


Business Summary

SHIFT, Inc. engages in the provision of software testing services. It provides solutions such as CAT (test design, test progress management, and fault management), non-functional testing, localization, and test runs. It also offers Scentee, which provides development of accessory device for smart phones. The company was founded by Masaru Tange on September 7, 2005 and is headquartered in Tokyo, Japan.

Financial Highlights

Aug 2021 JPYUSD
Gross Profit13,152.11M122.75M
Operating income3,994.92M37.28M
Income before tax4,525.75M42.24M
Net income2,818.60M26.30M
Diluted EPS160.281.49
Dividends Per Share00
Total Assets34,502.34M314.05M
Total liabilities11,818.47M107.57M
Total equity22,397.00M203.86M
Operating cash flow4,758.00M44.40M
Currency in JPYCurrency in USD

Historical Data

 Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021
Revenue 8,174.06M 12,792.68M 19,531.96M 28,712.17M 46,004.56M
Gross Profit 2,210.91M 3,807.99M 6,090.38M 8,685.39M 13,152.11M
Operating income 391.48M 1,200.90M 1,540.61M 2,353.37M 3,994.92M
Income before tax 441.16M 834.89M 1,557.69M 2,535.12M 4,525.75M
Net income 208.69M 368.24M 970.49M 1,648.69M 2,818.60M
EBITDA 563.75M 1,412.46M 1,865.83M 2,946.09M 5,198.88M
Diluted EPS 13.41 23.61 60.10 96.91 160.28
Dividends Per Share 0 0 0 0 0
Total Assets 5,340.84M 6,284.89M 14,988.57M 19,989.00M 34,502.34M
Total liabilities 3,223.08M 3,778.46M 6,050.51M 9,207.50M 11,818.47M
Total equity 1,926.73M 2,306.97M 8,647.26M 10,512.56M 22,397.00M
Operating cash flow 394.24M 1,247.51M 1,133.87M 2,250.56M 4,758.00M
 Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021
Revenue 73.95M 115.91M 176.92M 265.87M 429.37M
Gross Profit 20.00M 34.50M 55.16M 80.42M 122.75M
Operating income 3.54M 10.88M 13.95M 21.79M 37.28M
Income before tax 3.99M 7.56M 14.10M 23.47M 42.24M
Net income 1.88M 3.33M 8.79M 15.26M 26.30M
EBITDA 5.10M 12.79M 16.90M 27.28M 48.52M
Diluted EPS 0.12 0.21 0.54 0.89 1.49
Dividends Per Share 0 0 0 0 0
Total Assets 48.52M 56.67M 141.20M 188.49M 314.05M
Total liabilities 29.28M 34.07M 57.00M 86.82M 107.57M
Total equity 17.50M 20.80M 81.46M 99.13M 203.86M
Operating cash flow 3.56M 11.30M 10.27M 20.84M 44.40M

Valuation Measures

Aug 2021
Operating margin8.68%
Profit margin6.12%

Key executives

  • President, CEO & Representative Director: Masaru Tange
  • CFO, Executive Officer & GM-Administration: Kazuya Mashiko
  • Director & Vice President: Micho Sasaki
  • Executive Officer & Manager-Service Promotion: Atsutoshi Sato
  • Executive Officer & Head-Administration: Kosuke Kiyota


  • TANGE MASARU (35.4%)
  • Capital Research & Management Co. (World Investors) (7.5%)
  • Asset Management One Co., Ltd. (4.6%)
  • Coupland Cardiff Asset Management LLP (3.9%)
  • Rheos Capital Works, Inc. (Investment Management) (3.6%)
  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (3.0%)
  • TIAA-CREF Investment Management LLC (2.1%)
  • Nomura Asset Management Co., Ltd. (1.9%)
  • The Vanguard Group, Inc. (1.4%)
  • Fidelity Management & Research Co. LLC (1.2%)

Contact Details

  • Website:
  • Address: Masonic 39 MT Building, 2-4-5 Azabudai, Tokyo, 106-0041, Japan
  • Phone: +81.3.6809.1128

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    Last Updated on 3 Dec, 2021

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