Computer Mind Co (TSE:2452) Beneish M-Score: -1.85 (As of Jul. 20, 2026)

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TSE:2452 Computer Mind Co Ltd TSE:2452
12 GF Score
Price 円412.00
! 4 Warning Signs
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What is Computer Mind Co Beneish M-Score?

Computer Mind Co TSE:2452 12 Beneish M-Score is -1.85 as of Jul. 20, 2026. GuruFocus rates TSE:2452 with a GF Score™ of 12/100. The stock has 4 warning signs investors should review.

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 -1.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:2452' s Beneish M-Score Range Over the Past 10 Years
Min: -3.24   Med: -2.56   Max: -1.81
Current: -1.85

During the past 10 years, the highest Beneish M-Score of Computer Mind Co was -1.81. The lowest was -3.24. And the median was -2.56.

Computer Mind Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Computer Mind Co'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.

Computer Mind Co Beneish M-Score Chart

Computer Mind Co 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 -2.85 -2.26 -1.89 -2.94 -1.85

Computer Mind Co Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 -1.89 0.00 -2.94 0.00 -1.85

TSE:2452 vs TWOH: Beneish M-Score Comparison

For the Information Technology Services subindustry, Computer Mind Co'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.

Computer Mind Co Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Computer Mind Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Computer Mind Co's Beneish M-Score falls into.


TSE:2452
12GF Score
Computer Mind Co Ltd TSE:2452
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Computer Mind Co 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 Computer Mind Co 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 * 1.7699+0.528 * 1.1146+0.404 * 1.1399+0.892 * 0.9647+0.115 * 0.2696
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.002219-0.327 * 1.1984
=-1.85

* 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67.2 Mil.
Revenue was 円345.2 Mil.
Gross Profit was 円107.5 Mil.
Total Current Assets was 円193.2 Mil.
Total Assets was 円275.4 Mil.
Property, Plant and Equipment(Net PPE) was 円1.3 Mil.
Depreciation, Depletion and Amortization(DDA) was 円8.8 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円65.1 Mil.
Long-Term Debt & Capital Lease Obligation was 円58.1 Mil.
Net Income was 円-18.3 Mil.
Gross Profit was 円0.0 Mil.
Cash Flow from Operations was 円-17.7 Mil.
 Total Receivables was 円39.4 Mil.
Revenue was 円357.8 Mil.
Gross Profit was 円124.2 Mil.
Total Current Assets was 円177.8 Mil.
Total Assets was 円276.4 Mil.
Property, Plant and Equipment(Net PPE) was 円27.4 Mil.
Depreciation, Depletion and Amortization(DDA) was 円8.5 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円57.3 Mil.
Long-Term Debt & Capital Lease Obligation was 円45.8 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)
=(67.206 / 345.163) / (39.362 / 357.798)
=0.194708 / 0.110012
=1.7699

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)
=(124.234 / 357.798) / (107.526 / 345.163)
=0.347218 / 0.311522
=1.1146

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 - (193.215 + 1.251) / 275.378) / (1 - (177.781 + 27.392) / 276.423)
=0.293822 / 0.257757
=1.1399

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
=345.163 / 357.798
=0.9647

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))
=(8.457 / (8.457 + 27.392)) / (8.763 / (8.763 + 1.251))
=0.235906 / 0.875075
=0.2696

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 / 345.163) / (0 / 357.798)
=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)
=((58.084 + 65.066) / 275.378) / ((45.806 + 57.343) / 276.423)
=0.447203 / 0.373156
=1.1984

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
=(-18.305 - 0 - -17.694) / 275.378
=-0.002219

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.

Computer Mind Co has a M-score of -1.85 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 -1.85 mean?
Computer Mind Co (TSE:2452) has a Beneish M-Score of -1.85 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Computer Mind Co and its competitors.
Is Computer Mind Co's Beneish M-Score too high?
Computer Mind Co's current Beneish M-Score is -1.85. Overall, Computer Mind Co has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Computer Mind Co's Beneish M-Score compare to TWOH?
Computer Mind Co's Beneish M-Score of -1.85 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 Beneish M-Score for a Software company?
A good Beneish M-Score depends on the Software 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 Computer Mind Co and its competitors. Computer Mind Co's current Beneish M-Score is -1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Computer Mind Co stock overvalued right now?
Computer Mind Co (TSE:2452) has a current Beneish M-Score of -1.85. The current Beneish M-Score is -1.85. Computer Mind Co's overall GF Score™ is 12/100 with 4 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 Computer Mind Co (TSE:2452), the current Beneish M-Score is -1.85 as of Jul. 20, 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.

Computer Mind Co Business Description

Address Omiya Miyazakidai Building 5th Floor, 2-10-9 Miyazaki, Miyamae-ku, Kawasaki-shi, Kanagawa, JPN, 216-0033
Computer Mind Co Ltd is an IT services company. The company provides IT systems development , IT technical support and IOT equipment verification.
12GF Score

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

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