HONYAKU Center (TSE:2483) Beneish M-Score: -2.74 (As of Jul. 11, 2026)

What is HONYAKU Center Beneish M-Score?

HONYAKU Center TSE:2483 +1.87% 70 Beneish M-Score is -2.74 as of Jul. 11, 2026. GuruFocus rates TSE:2483 with a GF Score™ of 70/100 and a GF Value™ of 円1,818.63 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,022 Business Services companies, HONYAKU Center ranks better than 64.68% 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 -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:2483' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9 Med: -2.54 Max: -1.91
Current: -2.74

During the past 13 years, the highest Beneish M-Score of HONYAKU Center was -1.91. The lowest was -2.90. And the median was -2.54.

HONYAKU Center Beneish M-Score Related Terms

HONYAKU Center Beneish M-Score Historical Data

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The historical data trend for HONYAKU Center'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.

HONYAKU Center Beneish M-Score Chart

HONYAKU Center Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.64

-2.19

-2.43

-2.31

-2.74

HONYAKU Center 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															-2.43	0.00	-2.31	0.00	-2.74

TSE:2483 vs CTAS, CPRT, ULS: Beneish M-Score Comparison

For the Specialty Business Services subindustry, HONYAKU Center'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.

HONYAKU Center Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, HONYAKU Center's Beneish M-Score distribution charts can be found below:

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

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70GF Score

HONYAKU Center Inc TSE:2483

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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HONYAKU Center 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 HONYAKU Center for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9188

0.528 * 1.0001

0.404 * 1.3732

0.892 * 0.9698

0.115 * 0.6272

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.067964

0.327 * 0.827

-2.74

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円1,848 Mil.
Revenue was 円10,871 Mil.
Gross Profit was 円5,153 Mil.
Total Current Assets was 円7,275 Mil.
Total Assets was 円8,774 Mil.
Property, Plant and Equipment(Net PPE) was 円190 Mil.
Depreciation, Depletion and Amortization(DDA) was 円68 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,505 Mil.
Long-Term Debt & Capital Lease Obligation was 円12 Mil.
Net Income was 円462 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円1,059 Mil.

Total Receivables was 円2,074 Mil.
Revenue was 円11,210 Mil.
Gross Profit was 円5,315 Mil.
Total Current Assets was 円7,667 Mil.
Total Assets was 円8,836 Mil.
Property, Plant and Equipment(Net PPE) was 円210 Mil.
Depreciation, Depletion and Amortization(DDA) was 円41 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,848 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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)
	=	(1848.226 / 10871.456)	/	(2074.186 / 11210.147)
	=	0.170007	/	0.185028
	=	0.9188

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)
	=	(5314.575 / 11210.147)	/	(5153.385 / 10871.456)
	=	0.474086	/	0.474029
	=	1.0001

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 - (7275.376 + 190.308) / 8774.005)	/	(1 - (7667.084 + 209.672) / 8836.284)
	=	0.149113	/	0.10859
	=	1.3732

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
	=	10871.456	/	11210.147
	=	0.9698

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))
	=	(41.292 / (41.292 + 209.672))	/	(67.677 / (67.677 + 190.308))
	=	0.164534	/	0.262329
	=	0.6272

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 / 10871.456)	/	(0 / 11210.147)
	=	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)
	=	((12.4 + 1505.488) / 8774.005)	/	((0 + 1848.387) / 8836.284)
	=	0.172998	/	0.209181
	=	0.827

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
	=	(462.202 - 0	-	1058.515)	/	8774.005
	=	-0.067964

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.

HONYAKU Center has a M-score of -2.74 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 -2.74 mean?

HONYAKU Center (TSE:2483) has a Beneish M-Score of -2.74 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on HONYAKU Center and its competitors. According to the industry distribution chart, HONYAKU Center ranks #361 out of 1022 companies in the Business Services industry, placing it in the top 35.3%.

Is HONYAKU Center's Beneish M-Score too high?

HONYAKU Center's current Beneish M-Score is -2.74. Based on the distribution chart, HONYAKU Center ranks #361 out of 1022 companies in the Business Services industry, which is above the industry midpoint. Overall, HONYAKU Center has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does HONYAKU Center's Beneish M-Score compare to CTAS and CPRT?

According to the Business Services industry distribution chart, HONYAKU Center ranks #361 out of 1022 companies for Beneish M-Score. This puts HONYAKU Center in the upper 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 Business Services company?

A good Beneish M-Score depends on the Business Services 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 HONYAKU Center and its competitors. HONYAKU Center's current Beneish M-Score is -2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is HONYAKU Center stock overvalued right now?

Based on GuruFocus' analysis, HONYAKU Center (TSE:2483) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,818.63, compared to a current price of 円2,400.00 — trading 32% above its estimated fair value. The current Beneish M-Score is -2.74. HONYAKU Center's overall GF Score™ is 70/100 with 7 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 HONYAKU Center (TSE:2483), the current Beneish M-Score is -2.74 as of Jul. 11, 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 HONYAKU Center (TSE:2483) Overvalued in 2026?

Based on GuruFocus' analysis, HONYAKU Center stock appears to be overvalued. The current stock price of 円2,400.00 is trading 32% above its estimated GF Value™ of 円1,818.63. GuruFocus considers HONYAKU Center to be Significantly Overvalued.

Key valuation signals for TSE:2483:

Beneish M-Score: -2.74
GF Value™: 円1,818.63 vs. price of 円2,400.00 (32% above fair value)
GF Score™: 70/100 with 7 warning signs

No single metric tells the full story. See the TSE:2483 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

HONYAKU Center Business Description

Industry Industrials Business Services

Comparable Companies TSE:6093 TSE:7049 TSE:7038 TSE:7812 TSE:9313 TSE:7833 TSE:2480 TSE:3948 TSE:7883 TSE:1418 CTAS LSE:REL TSX:TRI CPRT TSX:RBA ULS GPN ASX:BXB ARMK XAMS:WKL

Address 4-1-3 Kyutaro-machi, Chuo-ku, Midousuji building, 13th floor, Osaka, JPN, 541-0056

Website http://www.honyakuctr.com

HONYAKU Center Inc is a technical translation firm. It provides translation services in the medical and pharmaceutical, patent, industrial, financial, and legal fields. It also provides interpreting, medical writing services, and foreign patent applications.

70GF Score

Get the complete analysis for TSE:2483

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

円2,400.00

Price

円1,818.63

GF Value

View TSE:2483 Analysis

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