Wellness Communications (TSE:366A) Beneish M-Score: -2.40 (As of Jul. 05, 2026)


TSE:366A Wellness Communications Corp TSE:366A
45 GF Score
Price 円1,087.00
! 1 Warning Sign
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What is Wellness Communications Beneish M-Score?

Wellness Communications TSE:366A +1.68% 45 Beneish M-Score is -2.40 as of Jul. 05, 2026. GuruFocus rates TSE:366A with a GF Score™ of 45/100. The stock has 1 warning sign investors should review. Among 631 Healthcare Providers & Services companies, Wellness Communications ranks worse than 64.82% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:366A' s Beneish M-Score Range Over the Past 10 Years
Min: -3.66   Med: -2.56   Max: -1.8
Current: -2.4

During the past 6 years, the highest Beneish M-Score of Wellness Communications was -1.80. The lowest was -3.66. And the median was -2.56.

Wellness Communications Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wellness Communications'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.

Wellness Communications Beneish M-Score Chart

Wellness Communications Annual Data
Trend Mar20 Mar21 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial 0.00 -2.71 -1.80 -3.66 -2.40

Wellness Communications Semi-Annual Data
Mar20 Mar21 Mar23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -1.80 0.00 -3.66 0.00 -2.40

TSE:366A vs VEEV, BTSG, TEM: Beneish M-Score Comparison

For the Health Information Services subindustry, Wellness Communications'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.

Wellness Communications Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Wellness Communications's Beneish M-Score distribution charts can be found below:

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


TSE:366A
45GF Score
Wellness Communications Corp TSE:366A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Wellness Communications 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 Wellness Communications 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 * 0.99+0.528 * 0.9489+0.404 * 1.7822+0.892 * 1.0513+0.115 * 0.6494
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.028559-0.327 * 1.2325
=-2.40

* 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1,107 Mil.
Revenue was 円14,778 Mil.
Gross Profit was 円3,109 Mil.
Total Current Assets was 円6,591 Mil.
Total Assets was 円9,729 Mil.
Property, Plant and Equipment(Net PPE) was 円138 Mil.
Depreciation, Depletion and Amortization(DDA) was 円282 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円2,930 Mil.
Long-Term Debt & Capital Lease Obligation was 円931 Mil.
Net Income was 円822 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円1,100 Mil.
 Total Receivables was 円1,064 Mil.
Revenue was 円14,058 Mil.
Gross Profit was 円2,807 Mil.
Total Current Assets was 円3,954 Mil.
Total Assets was 円5,183 Mil.
Property, Plant and Equipment(Net PPE) was 円332 Mil.
Depreciation, Depletion and Amortization(DDA) was 円256 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,669 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)
=(1107.392 / 14778.359) / (1064.021 / 14057.605)
=0.074933 / 0.07569
=0.99

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)
=(2806.6 / 14057.605) / (3109.444 / 14778.359)
=0.19965 / 0.210405
=0.9489

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 - (6591.116 + 138.342) / 9729.358) / (1 - (3954.256 + 331.661) / 5182.516)
=0.308335 / 0.173005
=1.7822

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
=14778.359 / 14057.605
=1.0513

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))
=(255.839 / (255.839 + 331.661)) / (281.631 / (281.631 + 138.342))
=0.435471 / 0.670593
=0.6494

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 / 14778.359) / (0 / 14057.605)
=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)
=((930.972 + 2929.932) / 9729.358) / ((0 + 1668.663) / 5182.516)
=0.39683 / 0.321979
=1.2325

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
=(822.134 - 0 - 1099.998) / 9729.358
=-0.028559

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.

Wellness Communications has a M-score of -2.40 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 -2.40 mean?
Wellness Communications (TSE:366A) has a Beneish M-Score of -2.40 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wellness Communications and its competitors. According to the industry distribution chart, Wellness Communications ranks #409 out of 631 companies in the Healthcare Providers & Services industry, placing it in the top 64.8%.
Is Wellness Communications' Beneish M-Score too high?
Wellness Communications' current Beneish M-Score is -2.40. Based on the distribution chart, Wellness Communications ranks #409 out of 631 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, Wellness Communications has a GF Score™ of 45/100, reflecting its overall financial health beyond just this single metric.
How does Wellness Communications' Beneish M-Score compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Wellness Communications ranks #409 out of 631 companies for Beneish M-Score. This places Wellness Communications 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & 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 Wellness Communications and its competitors. Wellness Communications's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wellness Communications stock overvalued right now?
Wellness Communications (TSE:366A) has a current Beneish M-Score of -2.40. The current Beneish M-Score is -2.40. Wellness Communications' overall GF Score™ is 45/100 with 1 warning sign 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 Wellness Communications (TSE:366A), the current Beneish M-Score is -2.40 as of Jul. 05, 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.

Wellness Communications Business Description

Address 1-12-32 Akasaka, Minato-ku, Tokyo, JPN, 107-6014
Wellness Communications Corp is engaged in the health management cloud business, health checkup solution business and wellness-related information/distribution and service introduction business.
45GF Score

Get the complete analysis for TSE:366A

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

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