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MARKETS / NASDAQ / Technology / Custom programming / MWC
NASDAQ · SERVICES-COMPUTER PROGRAMMING SERVICES · SMALL CAP

Micware Co. Ltd. MWC

3 fiscal years on record · JPY · FY2025 reported · SEC filings only
JPY 21.9B
▲ 3.7% YoY
JPY 1.6B
▲ 20.4% YoY
JPY 1.8B
▲ 10.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company develops and sells IVI systems covering car functionality from multimedia to navigation, human machine interface, telematics and driver assistance, and provides software development services for the automotive and mobility sectors from Japan. It also develops navigation software and location information-based smartphone applications. Its business is operated across Japan through six operating entities and 13 branch offices, with subsidiaries in the U.S., Thailand and Germany handling operations overseas. It had 483 full-time employees as of February 28, 2026. Revenue is disaggregated into three categories: software development services, licensing, and other software-related services. Software development services consist of the design and delivery of custom automotive software built on its proprietary IVI platform, which supports functions such as navigation, multimedia and connectivity across Android- and Linux-based environments. Under its licensing agreements, Micware grants Tier 1 suppliers the right to use its navigation engine and related software modules for integration into in-vehicle systems delivered to automotive OEMs, and receives sales-based royalties on a per-unit basis. Micware was established in 2003.

Written from the business description in Micware Co., Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 30 June 2026. Every sentence was checked against that document before publication.

Growth

JPY 21.9B
Revenue, FY2025 · full 3-year series below
Revenue JPY B Net income JPY B
FY2025 · Revenue 21.9 · Net income 1.6
10B20B
202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

7 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 10.8% · Net 7.4%
5%10%
202320242025
ROE
FY2025 · ROE 22.1%
10%20%
202320242025
Three returns, three denominators.
Gross margin36.8%
Operating margin10.8%
Net margin7.4%
EBITDAJPY 2.8B

Each JPY of equity produced 22 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow JPY B
FY2025 · FCF 1.8
1B2B
202320242025
Dividends paid·
Net buybacks·
Share of profit·
Consecutive raises·

Total assetsJPY 24.4B
EquityJPY 8.0B
CashJPY 8.3B
Gross debtJPY 3.4B
Net debtJPY -4.9B
Current ratio1.66×

The company holds more cash than debt.

The 3-year record

3 fiscal years
Every figure from documents filed with the SEC · JPY
row low → row highnegative—not applicable◌not available in our data
MWC, 3-year financial record
Metric 202520242023
Revenue JPY B21.921.117.5
Operating income JPY B2.42.21.9
EBITDA JPY B2.82.52.3
Income tax JPY B0.70.70.5
Net income JPY B1.61.31.4
Free cash flow JPY B1.81.60.2
EPS, diluted JPY 28.5825.4925.84
Dividend / sh JPY ◌◌◌
Payout % — not applicable: no dividend———
ROE %22.124.029.9
Shares out B0.060.06◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Micware Co. Ltd.vsPerpetuals.com Ltd.Same industry: Services-Computer Programming Services
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Provenance

Company facts, as filed

How we verify · 0 failures in 13 reconciliationsAUDITED

Reconciled in 3 of the 3 fiscal years we could check. 34 checks were skipped: the balance sheet is not tagged before 2024. 16 checks were skipped: EPS is not tagged before 2023. 16 checks were skipped: revenue is not tagged before 2023.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Computer Programming Services
Listed onNASDAQ
Incorporated inoutside the United States — SEC code M0
Fiscal year endsFebruary 28
SEC categoryemerging growth company
Data on record since2023

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