Change Holdings (TSE:3962) Goodwill: 円29,267 Mil (As of Mar. 2026)


TSE:3962 Change Holdings Inc TSE:3962
69 GF Score
Price 円914.00
GF Value 円1,870.94
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Change Holdings Goodwill?

Change Holdings TSE:3962 -0.33% 69 Goodwill is 円29,267 Mil as of Mar. 2026. GuruFocus rates TSE:3962 with a GF Score™ of 69/100 and a GF Value™ of 円1,870.94 (Significantly Undervalued). The stock has 5 warning signs investors should review.

A Goodwill is an intangible asset that arises as a result of the acquisition of one company by another for a premium value. The value of a company's brand name, solid customer base, good customer relations, good employee relations and any patents or proprietary technology represent goodwill. Change Holdings's goodwill for the quarter that ended in Mar. 2026 was 円29,267 Mil.


Change Holdings  (TSE:3962) Goodwill Explanation

Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets.

It is calculated by dividing goodwill by total assets.

Change Holdings's Goodwill-to-Asset Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Goodwill-to-Asset (A: Mar. 2026 )=Goodwill/Total Assets
=29267/105605
=0.28

Change Holdings's Goodwill-to-Asset Ratio for the quarter that ended in Mar. 2026 is calculated as

Goodwill-to-Asset (Q: Mar. 2026 )=Goodwill/Total Assets
=29267/105605
=0.28

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

If the goodwill-to-asset ratio increases, it can mean that the company is recording a proportionately higher amount of goodwill, assuming total assets are remaining constant. It is generally good to see a company increasing its assets regularly; however, if these increases are coming from intangible assets, such as goodwill, the increases may not be as good.

Increases in the goodwill-to-asset ratio might suggest that a company has been aggressively acquiring other firms or has seen its tangible assets decrease in value. When a large portion of total assets are attributable to intangible assets (such as goodwill), the company may be at risk of having that portion of its asset base wiped out quickly if it must record any goodwill impairments. Decreases in the goodwill-to-assets ratio suggest that the company has either written down some goodwill or increased its tangible assets.

Asset needs vary from industry to industry. This is why comparing goodwill-to-assets ratios is generally most meaningful among companies within the same industry. By comparing a company's goodwill to assets ratio to those of other companies within the same industry, investors can get a feel for how a company is managing its goodwill.


Change Holdings Goodwill Related Terms


Change Holdings Goodwill Historical Data

* Premium members only.

The historical data trend for Change Holdings's Goodwill can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Change Holdings Goodwill Chart

Change Holdings Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Mar23 Mar24 Mar25 Mar26
Goodwill
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4,409.00 9,042.00 17,834.00 28,307.00 29,267.00

Change Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Goodwill Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 28,307.00 28,881.00 29,293.00 29,293.00 29,267.00
TSE:3962
69GF Score
Change Holdings Inc TSE:3962
Goodwill is just one metric. See GF Score™, valuation, warning signs, and more.
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Change Holdings Goodwill Calculation

A Goodwill is an intangible asset that arises as a result of the acquisition of one company by another for a premium value. The value of a company's brand name, solid customer base, good customer relations, good employee relations and any patents or proprietary technology represent goodwill. Goodwill is considered an intangible asset because it is not a physical asset like buildings or equipment. The goodwill account can be found in the assets portion of a company's balance sheet.

Frequently Asked Questions Learn more about Goodwill →
What does a Goodwill of 円29,267 Mil mean?
Change Holdings (TSE:3962) has a Goodwill of 円29,267 Mil as of Mar. 2026. Goodwill is the intangible assets representing the value in excess of the acquired company's value. View historical data on Change Holdings and its competitors.
Is Change Holdings' Goodwill too high?
Change Holdings' current Goodwill is 円29,267 Mil. Overall, Change Holdings has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Change Holdings' Goodwill compare to IBM and ACN?
Change Holdings' Goodwill of 円29,267 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Goodwill for a Software company?
A good Goodwill depends on the Software industry context. However, Goodwill should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Goodwill mean?
A high Goodwill can signal that a stock is expensive relative to its fundamentals. Goodwill is the intangible assets representing the value in excess of the acquired company's value. View historical data on Change Holdings and its competitors. Change Holdings's current Goodwill is 円29,267 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Change Holdings stock overvalued right now?
Based on GuruFocus' analysis, Change Holdings (TSE:3962) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,870.94, compared to a current price of 円914.00 — trading 51.1% below its estimated fair value. The current Goodwill is 円29,267 Mil. Change Holdings' overall GF Score™ is 69/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Goodwill calculated?
Goodwill is calculated from a company's financial statements. For Change Holdings (TSE:3962), the current Goodwill is 円29,267 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Change Holdings (TSE:3962) Overvalued in 2026?

Based on GuruFocus' analysis, Change Holdings stock appears to be undervalued. The current stock price of 円914.00 is trading 51.1% below its estimated GF Value™ of 円1,870.94. GuruFocus considers Change Holdings to be Significantly Undervalued.

Key valuation signals for TSE:3962:

  • Goodwill: 円29,267 Mil
  • GF Value™: 円1,870.94 vs. price of 円914.00 (51.1% below fair value)
  • GF Score™: 69/100 with 5 warning signs

No single metric tells the full story. See the TSE:3962 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Change Holdings Business Description

Address 3-17-1 Toranomon, 6th Floor, TOKYU REIT Toranomon Building, Minato-ku, Tokyo, JPN, 105-0001
Change Holdings Inc provides mobility, IoT (Internet of Things) data, security and IT human resources training services. It segments are: Public Tech and NEW-IT Transformation Business. The Public Tech segment covers local government support projects that aims to realize high value-added resident services by utilizing ICT technology to promote the improvement of local government business productivity. The NEW-IT Transformation Business segment promotes digital transformation through various algorithms such as AI, voice Internet, mobility, IoT, cloud, security, services utilizing basic technology, and training for digital human resources. It also provides digital transformation solutions by combining libraries based on customer needs to realize customer digital transformation.
69GF Score

Get the complete analysis for TSE:3962

Goodwill is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円914.00
Price
円1,870.94
GF Value