MIRAIT One (TSE:1417) Beneish M-Score: -2.47 (As of Jul. 02, 2026)


TSE:1417 MIRAIT One Corp TSE:1417
82 GF Score
Price 円3,877.00
GF Value 円2,575.28
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is MIRAIT One Beneish M-Score?

MIRAIT One TSE:1417 +1.44% 82 Beneish M-Score is -2.47 as of Jul. 02, 2026. GuruFocus rates TSE:1417 with a GF Score™ of 82/100 and a GF Value™ of 円2,575.28 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,700 Construction companies, MIRAIT One ranks worse than 51.53% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.47 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for MIRAIT One's Beneish M-Score or its related term are showing as below:

TSE:1417' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8   Med: -2.48   Max: -1.88
Current: -2.47

During the past 13 years, the highest Beneish M-Score of MIRAIT One was -1.88. The lowest was -2.80. And the median was -2.48.

MIRAIT One Beneish M-Score Historical Data

* Premium members only.

The historical data trend for MIRAIT One's Beneish M-Score 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.

MIRAIT One Beneish M-Score Chart

MIRAIT One Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.07 -2.26 -2.50 -2.55 -2.47

MIRAIT One Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score 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 -2.55 0.00 0.00 0.00 -2.47

TSE:1417 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, MIRAIT One's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MIRAIT One Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, MIRAIT One's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where MIRAIT One's Beneish M-Score falls into.


TSE:1417
82GF Score
MIRAIT One Corp TSE:1417
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MIRAIT One Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of MIRAIT One for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.015+0.528 * 0.9498+0.404 * 0.9909+0.892 * 1.0411+0.115 * 1.0012
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.001393-0.327 * 0.9988
=-2.47

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円239,173 Mil.
Revenue was 円602,377 Mil.
Gross Profit was 円93,008 Mil.
Total Current Assets was 円347,074 Mil.
Total Assets was 円573,393 Mil.
Property, Plant and Equipment(Net PPE) was 円107,810 Mil.
Depreciation, Depletion and Amortization(DDA) was 円14,185 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円176,276 Mil.
Long-Term Debt & Capital Lease Obligation was 円80,834 Mil.
Net Income was 円23,282 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円24,081 Mil.
 Total Receivables was 円226,344 Mil.
Revenue was 円578,599 Mil.
Gross Profit was 円84,851 Mil.
Total Current Assets was 円321,194 Mil.
Total Assets was 円537,739 Mil.
Property, Plant and Equipment(Net PPE) was 円104,379 Mil.
Depreciation, Depletion and Amortization(DDA) was 円13,752 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円160,983 Mil.
Long-Term Debt & Capital Lease Obligation was 円80,432 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(239173 / 602377) / (226344 / 578599)
=0.397049 / 0.391193
=1.015

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(84851 / 578599) / (93008 / 602377)
=0.146649 / 0.154402
=0.9498

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (347074 + 107810) / 573393) / (1 - (321194 + 104379) / 537739)
=0.20668 / 0.208588
=0.9909

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=602377 / 578599
=1.0411

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(13752 / (13752 + 104379)) / (14185 / (14185 + 107810))
=0.116413 / 0.116275
=1.0012

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 602377) / (0 / 578599)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((80834 + 176276) / 573393) / ((80432 + 160983) / 537739)
=0.448401 / 0.448945
=0.9988

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(23282 - 0 - 24081) / 573393
=-0.001393

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

MIRAIT One has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.47 mean?
MIRAIT One (TSE:1417) has a Beneish M-Score of -2.47 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MIRAIT One and its competitors. According to the industry distribution chart, MIRAIT One ranks #876 out of 1700 companies in the Construction industry, placing it in the top 51.5%.
Is MIRAIT One's Beneish M-Score too high?
MIRAIT One's current Beneish M-Score is -2.47. Based on the distribution chart, MIRAIT One ranks #876 out of 1700 companies in the Construction industry, which is below the industry midpoint. Overall, MIRAIT One has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MIRAIT One's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, MIRAIT One ranks #876 out of 1700 companies for Beneish M-Score. This places MIRAIT One in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Construction company?
A good Beneish M-Score depends on the Construction industry context. However, Beneish M-Score 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 Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MIRAIT One and its competitors. MIRAIT One's current Beneish M-Score is -2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MIRAIT One stock overvalued right now?
Based on GuruFocus' analysis, MIRAIT One (TSE:1417) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,575.28, compared to a current price of 円3,877.00 — trading 50.5% above its estimated fair value. The current Beneish M-Score is -2.47. MIRAIT One's overall GF Score™ is 82/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For MIRAIT One (TSE:1417), the current Beneish M-Score is -2.47 as of Jul. 02, 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 MIRAIT One (TSE:1417) Overvalued in 2026?

Based on GuruFocus' analysis, MIRAIT One stock appears to be overvalued. The current stock price of 円3,877.00 is trading 50.5% above its estimated GF Value™ of 円2,575.28. GuruFocus considers MIRAIT One to be Significantly Overvalued.

Key valuation signals for TSE:1417:

  • Beneish M-Score: -2.47
  • GF Value™: 円2,575.28 vs. price of 円3,877.00 (50.5% above fair value)
  • GF Score™: 82/100 with 6 warning signs

No single metric tells the full story. See the TSE:1417 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MIRAIT One Business Description

Address 5-6-36 Toyosu, Koto-ku, Tokyo, JPN, 135-8111
MIRAIT One Corp is engaged in building and maintaining various social infrastructures including communication infrastructures. It is also involved in projects that contribute to local town and community development, as well as corporate DX and GX. It also engages in the construction and sales of solar power generation facilities; provides high-quality software and DX through virtualization; construction of broadband networks and ICT systems among others.
82GF Score

Get the complete analysis for TSE:1417

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

円3,877.00
Price
円2,575.28
GF Value