Traders knocked note back over the past week, with the stock down about 12%, even though the latest report showed revenue holding at ¥1,454 million and quarterly earnings per share at ¥17.22. The tension comes from valuation, not just the headline numbers. This is an interactive media business on a 50x P/E, far richer than its local peer group. The market is wrestling with how much future growth is already baked into ¥3,150 a share.

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Q3 2026 Earnings Summary

• Revenue (Q3 2026 vs. Q3 2025): ¥1,454 million vs. ¥1,075.697 million (up roughly 35%)
• Net Income (Excl….