Institution for a Global Society (TSE:4265) Beneish M-Score: -6.62 (As of Jul. 29, 2026)

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TSE:4265 Institution for a Global Society Corp TSE:4265
62 GF Score
Price 円279.00
GF Value 円327.74
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Institution for a Global Society Beneish M-Score?

Institution for a Global Society TSE:4265 -8.82% 62 Beneish M-Score is -6.62 as of Jul. 29, 2026. GuruFocus rates TSE:4265 with a GF Score™ of 62/100 and a GF Value™ of 円327.74 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,019 Business Services companies, Institution for a Global Society ranks better than 98.04% 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 -6.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Institution for a Global Society's Beneish M-Score or its related term are showing as below:

TSE:4265' s Beneish M-Score Range Over the Past 10 Years
Min: -6.62   Med: -2.95   Max: 1.62
Current: -6.62

During the past 7 years, the highest Beneish M-Score of Institution for a Global Society was 1.62. The lowest was -6.62. And the median was -2.95.

Institution for a Global Society Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Institution for a Global Society'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.

Institution for a Global Society Beneish M-Score Chart

Institution for a Global Society Annual Data
Trend Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial -2.95 -3.19 1.62 -1.93 -6.62

Institution for a Global Society Semi-Annual Data
Mar20 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 1.62 0.00 -1.93 0.00 -6.62

TSE:4265 vs KFY, RHI, TNET: Beneish M-Score Comparison

For the Staffing & Employment Services subindustry, Institution for a Global Society'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.

Institution for a Global Society Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Institution for a Global Society's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Institution for a Global Society's Beneish M-Score falls into.


TSE:4265
62GF Score
Institution for a Global Society Corp TSE:4265
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Institution for a Global Society 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 Institution for a Global Society 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 * 0.3437+0.528 * 0.5629+0.404 * 0+0.892 * 1.0932+0.115 * 2.0989
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.514834-0.327 * 3.1573
=-6.62

* 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118.4 Mil.
Revenue was 円659.1 Mil.
Gross Profit was 円382.8 Mil.
Total Current Assets was 円641.6 Mil.
Total Assets was 円649.2 Mil.
Property, Plant and Equipment(Net PPE) was 円7.5 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2.9 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円69.7 Mil.
Long-Term Debt & Capital Lease Obligation was 円101.0 Mil.
Net Income was 円-307.6 Mil.
Gross Profit was 円0.0 Mil.
Cash Flow from Operations was 円26.7 Mil.
 Total Receivables was 円315.0 Mil.
Revenue was 円602.9 Mil.
Gross Profit was 円197.1 Mil.
Total Current Assets was 円678.9 Mil.
Total Assets was 円768.8 Mil.
Property, Plant and Equipment(Net PPE) was 円7.6 Mil.
Depreciation, Depletion and Amortization(DDA) was 円10.7 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円64.0 Mil.
Long-Term Debt & Capital Lease Obligation was 円0.0 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)
=(118.356 / 659.144) / (315.008 / 602.926)
=0.17956 / 0.522465
=0.3437

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)
=(197.122 / 602.926) / (382.844 / 659.144)
=0.326942 / 0.58082
=0.5629

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 - (641.627 + 7.536) / 649.164) / (1 - (678.886 + 7.644) / 768.846)
=2.0E-6 / 0.107064
=0

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
=659.144 / 602.926
=1.0932

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))
=(10.73 / (10.73 + 7.644)) / (2.905 / (2.905 + 7.536))
=0.583977 / 0.27823
=2.0989

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 / 659.144) / (0 / 602.926)
=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)
=((101 + 69.691) / 649.164) / ((0 + 64.029) / 768.846)
=0.26294 / 0.083279
=3.1573

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
=(-307.56 - 0 - 26.652) / 649.164
=-0.514834

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.

Institution for a Global Society has a M-score of -6.62 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 -6.62 mean?
Institution for a Global Society (TSE:4265) has a Beneish M-Score of -6.62 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Institution for a Global Society and its competitors. According to the industry distribution chart, Institution for a Global Society ranks #20 out of 1019 companies in the Business Services industry, placing it in the top 2%.
Is Institution for a Global Society's Beneish M-Score too high?
Institution for a Global Society's current Beneish M-Score is -6.62. Based on the distribution chart, Institution for a Global Society ranks #20 out of 1019 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Institution for a Global Society has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Institution for a Global Society's Beneish M-Score compare to KFY and RHI?
According to the Business Services industry distribution chart, Institution for a Global Society ranks #20 out of 1019 companies for Beneish M-Score. This places Institution for a Global Society in the top 2% of its industry — outperforming the majority of peers. 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 Institution for a Global Society and its competitors. Institution for a Global Society's current Beneish M-Score is -6.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Institution for a Global Society stock overvalued right now?
Based on GuruFocus' analysis, Institution for a Global Society (TSE:4265) is currently considered Modestly Undervalued. The stock's GF Value™ is 円327.74, compared to a current price of 円279.00 — trading 14.9% below its estimated fair value. The current Beneish M-Score is -6.62. Institution for a Global Society's overall GF Score™ is 62/100 with 5 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 Institution for a Global Society (TSE:4265), the current Beneish M-Score is -6.62 as of Jul. 29, 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 Institution for a Global Society (TSE:4265) Overvalued in 2026?

Based on GuruFocus' analysis, Institution for a Global Society stock appears to be undervalued. The current stock price of 円279.00 is trading 14.9% below its estimated GF Value™ of 円327.74. GuruFocus considers Institution for a Global Society to be Modestly Undervalued.

Key valuation signals for TSE:4265:

  • Beneish M-Score: -6.62
  • GF Value™: 円327.74 vs. price of 円279.00 (14.9% below fair value)
  • GF Score™: 62/100 with 5 warning signs

No single metric tells the full story. See the TSE:4265 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Institution for a Global Society Business Description

Address 1-11-2 Ebisu Minami, 4th Floor, Head Office, Shibuya-ku, Tokyo, JPN, 150-0022
Institution for a Global Society Corp operates in the following reportable segments: Human Resources (HR), Education, and Web3/Platform businesses. Maximum revenue is generated from its HR business, which supports companies in recruiting, training, placement, and organizational development by combining a wide range of services, including human resource evaluation systems, human capital consulting, and digital transformation training. In the education business, it provides technological tools like Ai GROW, AiGROW lite, GROW Academy, e-Spire, which provide evaluation tests and video learning content. In addition, the group offers Ongaeshi, a free integrated reskilling and recruitment service.
62GF Score

Get the complete analysis for TSE:4265

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

円279.00
Price
円327.74
GF Value