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Technology Services


Business Summary

UNITED, Inc. engages in advertising technology and smartphone applications business. It operates through the following segments: DX Platform, Investment, Ad Technology, and Contents. The DX Platform segment deals with online programming education, application and systems development, designer-specific crowdsourcing, and DX consulting business. The Investment segment invests in start-ups and manages funds. The Ad Technology segment deals with the planning, development, and operation of advertising distribution platforms for advertisers and advertising agencies. The Contents segment produces digital contents, smartphone applications, and web services. The company was founded by Kiyoshi Nishikawa on February 20, 1998 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2022 JPYUSD
Gross Profit8,305.95M73.91M
Operating income5,752.19M51.18M
Income before tax5,811.01M51.71M
Net income3,825.59M34.04M
Diluted EPS181.041.61
Dividends Per Share370.32
Total Assets38,701.05M318.85M
Total liabilities8,412.53M69.31M
Total equity30,288.52M249.54M
Operating cash flow3,475.21M30.92M
Currency in JPYCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 14,444.42M 27,580.57M 20,911.57M 16,338.52M 12,714.59M
Gross Profit 4,541.09M 15,426.77M 8,960.28M 8,475.55M 8,305.95M
Operating income 1,648.21M 11,084.29M 5,101.04M 5,619.27M 5,752.19M
Income before tax 1,622.71M 10,348.08M 1,558.78M 5,488.89M 5,811.01M
Net income 849.51M 7,008.49M 1,403.86M 3,728.09M 3,825.59M
EBITDA 2,051.51M 11,959.19M 6,137.12M 5,918.23M 5,950.62M
Diluted EPS 36.73 303.15 62.45 168.07 181.04
Dividends Per Share 7 61 13 34 37
Total Assets 12,633.69M 57,230.11M 33,592.24M 47,356.10M 38,701.05M
Total liabilities 2,352.40M 17,129.43M 7,060.13M 11,321.10M 8,412.53M
Total equity 10,168.55M 40,047.71M 26,532.11M 36,034.99M 30,288.52M
Operating cash flow 2,164.21M 10,717.80M 2,222.99M 6,858.48M 3,475.21M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 130.32M 248.70M 192.33M 154.05M 113.14M
Gross Profit 40.97M 139.11M 82.41M 79.91M 73.91M
Operating income 14.87M 99.95M 46.91M 52.98M 51.18M
Income before tax 14.64M 93.31M 14.33M 51.75M 51.71M
Net income 7.66M 63.19M 12.91M 35.15M 34.04M
EBITDA 18.51M 107.84M 56.44M 55.80M 52.95M
Diluted EPS 0.33 2.73 0.57 1.58 1.61
Dividends Per Share 0.06 0.55 0.11 0.32 0.32
Total Assets 118.79M 517.05M 311.16M 428.56M 318.85M
Total liabilities 22.11M 154.75M 65.39M 102.45M 69.31M
Total equity 95.61M 361.81M 245.77M 326.10M 249.54M
Operating cash flow 19.52M 96.64M 20.44M 64.66M 30.92M

Valuation Measures

Mar 2022
Operating margin45.24%
Profit margin30.08%

Key executives

  • President & Representative Director: Tomonori Hayakawa
  • Representative Director & Executive Officer: Yozo Kaneko
  • Director & GM-Business Administration: Yuji Yamashita
  • Auditor: Shigeru Yamazaki


  • Hakuhodo DY Holdings, Inc. (49.2%)
  • UNITED, Inc. (5.3%)
  • TAKEUCHI SOJI (1.9%)
  • Andbank Asset Management Luxembourg SA (1.3%)
  • TANAKA RYUHEI (0.8%)
  • Dimensional Fund Advisors LP (0.5%)
  • Simplex Asset Management Co., Ltd. (0.2%)
  • United Restricted Stock Compensation Plan (0.2%)

Contact Details

  • Website:
  • Address: MFPR Shibuya Building, B1/F, 1-2-5 Shibuya, Tokyo, 150-0002, Japan
  • Phone: +81.3.6821.0000

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    Last Updated on 2 Dec, 2022

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