Jade Group (TSE:3558) Beneish M-Score: -2.06 (As of Jun. 26, 2026)

What is Jade Group Beneish M-Score?

Jade Group TSE:3558 -1.17% 82 Beneish M-Score is -2.06 as of Jun. 26, 2026. GuruFocus rates TSE:3558 with a GF Score™ of 82/100 and a GF Value™ of 円2,481.05 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,087 Retail - Cyclical companies, Jade Group ranks worse than 77.55% 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 -2.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:3558' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18 Med: -2.22 Max: -1.2
Current: -2.06

During the past 12 years, the highest Beneish M-Score of Jade Group was -1.20. The lowest was -3.18. And the median was -2.22.

Jade Group Beneish M-Score Related Terms

Jade Group Beneish M-Score Historical Data

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The historical data trend for Jade Group'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.

Jade Group Beneish M-Score Chart

Jade Group Annual Data

Trend

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Feb25

Feb26

Beneish M-Score

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-3.18

-2.23

-2.41

-1.98

-2.06

Jade Group Semi-Annual Data
	Feb16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24	Aug24	Feb25	Aug25	Feb26
Beneish M-Score	Get a 7-Day Free Trial															-2.41	0.00	-1.98	0.00	-2.06

TSE:3558 vs AMZN, BABA, PDD: Beneish M-Score Comparison

For the Internet Retail subindustry, Jade Group'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.

Jade Group Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Jade Group's Beneish M-Score distribution charts can be found below:

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

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82GF Score

Jade Group Inc TSE:3558

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

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Jade Group 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 Jade Group 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 * 1.4596

0.528 * 1.0123

0.404 * 0.7888

0.892 * 1.0109

0.115 * 1.858

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.012335

0.327 * 0.9136

-2.06

This Year (Feb26) TTM:

Last Year (Feb25) TTM:

Total Receivables was 円3,399 Mil.
Revenue was 円19,441 Mil.
Gross Profit was 円15,154 Mil.
Total Current Assets was 円10,539 Mil.
Total Assets was 円15,586 Mil.
Property, Plant and Equipment(Net PPE) was 円1,575 Mil.
Depreciation, Depletion and Amortization(DDA) was 円660 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円6,239 Mil.
Long-Term Debt & Capital Lease Obligation was 円442 Mil.
Net Income was 円1,571 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円1,763 Mil.

Total Receivables was 円2,304 Mil.
Revenue was 円19,231 Mil.
Gross Profit was 円15,175 Mil.
Total Current Assets was 円8,079 Mil.
Total Assets was 円12,122 Mil.
Property, Plant and Equipment(Net PPE) was 円620 Mil.
Depreciation, Depletion and Amortization(DDA) was 円754 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円5,024 Mil.
Long-Term Debt & Capital Lease Obligation was 円663 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)
	=	(3399.442 / 19441.498)	/	(2303.848 / 19231.316)
	=	0.174855	/	0.119797
	=	1.4596

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)
	=	(15174.547 / 19231.316)	/	(15154.133 / 19441.498)
	=	0.789054	/	0.779474
	=	1.0123

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 - (10539.472 + 1575.346) / 15586.177)	/	(1 - (8079.362 + 619.858) / 12121.778)
	=	0.22272	/	0.282348
	=	0.7888

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
	=	19441.498	/	19231.316
	=	1.0109

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))
	=	(753.706 / (753.706 + 619.858))	/	(660.233 / (660.233 + 1575.346))
	=	0.548723	/	0.29533
	=	1.858

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 / 19441.498)	/	(0 / 19231.316)
	=	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)
	=	((442.215 + 6238.858) / 15586.177)	/	((663.416 + 5023.781) / 12121.778)
	=	0.428654	/	0.469172
	=	0.9136

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
	=	(1570.933 - 0	-	1763.19)	/	15586.177
	=	-0.012335

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.

Jade Group has a M-score of -2.06 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 -2.06 mean?

Jade Group (TSE:3558) has a Beneish M-Score of -2.06 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jade Group and its competitors. According to the industry distribution chart, Jade Group ranks #843 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 77.6%.

Is Jade Group's Beneish M-Score too high?

Jade Group's current Beneish M-Score is -2.06. Based on the distribution chart, Jade Group ranks #843 out of 1087 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Jade Group has a GF Score™ of 82/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Jade Group's Beneish M-Score compare to AMZN and BABA?

According to the Retail - Cyclical industry distribution chart, Jade Group ranks #843 out of 1087 companies for Beneish M-Score. This places Jade Group 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 Retail - Cyclical company?

A good Beneish M-Score depends on the Retail - Cyclical 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 Jade Group and its competitors. Jade Group's current Beneish M-Score is -2.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Jade Group stock overvalued right now?

Based on GuruFocus' analysis, Jade Group (TSE:3558) is currently considered Significantly Undervalued. The stock's GF Value™ is 円2,481.05, compared to a current price of 円1,516.00 — trading 38.9% below its estimated fair value. The current Beneish M-Score is -2.06. Jade Group's overall GF Score™ is 82/100 with 3 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 Jade Group (TSE:3558), the current Beneish M-Score is -2.06 as of Jun. 26, 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 Jade Group (TSE:3558) Overvalued in 2026?

Based on GuruFocus' analysis, Jade Group stock appears to be undervalued. The current stock price of 円1,516.00 is trading 38.9% below its estimated GF Value™ of 円2,481.05. GuruFocus considers Jade Group to be Significantly Undervalued.

Key valuation signals for TSE:3558:

Beneish M-Score: -2.06
GF Value™: 円2,481.05 vs. price of 円1,516.00 (38.9% below fair value)
GF Score™: 82/100 with 3 warning signs

No single metric tells the full story. See the TSE:3558 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Jade Group Business Description

Industry Consumer Cyclical Retail - Cyclical

Comparable Companies TSE:7110 TSE:3542 TSE:3665 TSE:9272 TSE:2484 TSE:3031 TSE:3179 TSE:3556 TSE:2652 TSE:6082 AMZN BABA PDD XAMS:PRX MELI DASH HKSE:03690 SE EBAY JSE:NPN

Address 30-13 Motoyoyogicho, ONEST Motoyoyogi Square 7th floor, Shibuya-ku, Tokyo, JPN, 151-0062

Website https://www.jade-group.jp

Jade Group Inc is a Japan-based company mainly engaged in the electronic commerce (EC) business. It operates a mail-order site for selling shoes and fashion products. It offers women's and men's shoes, bags, and apparel. It also manages platforms for information technology and logistics infrastructure.

82GF Score

Get the complete analysis for TSE:3558

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

円1,516.00

Price

円2,481.05

GF Value

View TSE:3558 Analysis

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