Access Co (TSE:4813) Beneish M-Score: -1.82 (As of Jun. 26, 2026)

What is Access Co Beneish M-Score?

Access Co TSE:4813 -1.18% 52 Beneish M-Score is -1.82 as of Jun. 26, 2026. GuruFocus rates TSE:4813 with a GF Score™ of 52/100 and a GF Value™ of 円1,146.41 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 2,634 Software companies, Access Co ranks worse than 80.14% 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 -1.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:4813' s Beneish M-Score Range Over the Past 10 Years
Min: -4.44 Med: -2.37 Max: -1.82
Current: -1.82

During the past 13 years, the highest Beneish M-Score of Access Co was -1.82. The lowest was -4.44. And the median was -2.37.

Access Co Beneish M-Score Related Terms

Access Co Beneish M-Score Historical Data

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The historical data trend for Access 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.

Access Co Beneish M-Score Chart

Access Co Annual Data

Trend

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Jan24

Jan25

Jan26

Beneish M-Score

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-2.77

-3.05

-3.85

-4.44

-1.82

Access Co Semi-Annual Data
	Jul16	Jan17	Jul17	Jan18	Jul18	Jan19	Jul19	Jan20	Jul20	Jan21	Jul21	Jan22	Jul22	Jan23	Jul23	Jan24	Jul24	Jan25	Jul25	Jan26
Beneish M-Score	Get a 7-Day Free Trial															-3.85	0.00	-4.44	0.00	-1.82

TSE:4813 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Access 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.

Access Co Beneish M-Score vs Software Industry

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

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

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52GF Score

Access Co Ltd TSE:4813

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

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Access 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 Access Co 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 * 1.2807

0.528 * 1.0485

0.404 * 1.2232

0.892 * 1.2062

0.115 * 0.8886

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.031431

0.327 * 1.1117

-1.82

This Year (Jan26) TTM:

Last Year (Jan25) TTM:

Total Receivables was 円6,044 Mil.
Revenue was 円19,216 Mil.
Gross Profit was 円8,119 Mil.
Total Current Assets was 円13,037 Mil.
Total Assets was 円17,095 Mil.
Property, Plant and Equipment(Net PPE) was 円1,159 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,442 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円8,813 Mil.
Long-Term Debt & Capital Lease Obligation was 円851 Mil.
Net Income was 円-3,399 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円-3,936 Mil.

Total Receivables was 円3,913 Mil.
Revenue was 円15,931 Mil.
Gross Profit was 円7,058 Mil.
Total Current Assets was 円17,248 Mil.
Total Assets was 円21,529 Mil.
Property, Plant and Equipment(Net PPE) was 円1,297 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,259 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円9,985 Mil.
Long-Term Debt & Capital Lease Obligation was 円963 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)
	=	(6043.89 / 19215.583)	/	(3912.585 / 15930.903)
	=	0.314531	/	0.245597
	=	1.2807

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)
	=	(7057.518 / 15930.903)	/	(8118.737 / 19215.583)
	=	0.443008	/	0.422508
	=	1.0485

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 - (13037.295 + 1159.013) / 17095.149)	/	(1 - (17248.067 + 1296.619) / 21529.205)
	=	0.169571	/	0.138627
	=	1.2232

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
	=	19215.583	/	15930.903
	=	1.2062

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))
	=	(1258.611 / (1258.611 + 1296.619))	/	(1441.666 / (1441.666 + 1159.013))
	=	0.492563	/	0.554342
	=	0.8886

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 / 19215.583)	/	(0 / 15930.903)
	=	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)
	=	((850.973 + 8812.802) / 17095.149)	/	((962.539 + 9984.59) / 21529.205)
	=	0.565293	/	0.508478
	=	1.1117

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
	=	(-3398.608 - 0	-	-3935.926)	/	17095.149
	=	0.031431

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.

Access Co has a M-score of -1.82 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 -1.82 mean?

Access Co (TSE:4813) has a Beneish M-Score of -1.82 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Access Co and its competitors. According to the industry distribution chart, Access Co ranks #2111 out of 2634 companies in the Software industry, placing it in the top 80.1%.

Is Access Co's Beneish M-Score too high?

Access Co's current Beneish M-Score is -1.82. Based on the distribution chart, Access Co ranks #2111 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Access Co has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Access Co's Beneish M-Score compare to IBM and ACN?

According to the Software industry distribution chart, Access Co ranks #2111 out of 2634 companies for Beneish M-Score. This places Access Co 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 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 Access Co and its competitors. Access Co's current Beneish M-Score is -1.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Access Co stock overvalued right now?

Based on GuruFocus' analysis, Access Co (TSE:4813) is currently considered Possible Value Trap. The stock's GF Value™ is 円1,146.41, compared to a current price of 円335.00 — trading 70.8% below its estimated fair value. The current Beneish M-Score is -1.82. Access Co's overall GF Score™ is 52/100 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 Access Co (TSE:4813), the current Beneish M-Score is -1.82 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 Access Co (TSE:4813) Overvalued in 2026?

Based on GuruFocus' analysis, Access Co stock appears to be undervalued. The current stock price of 円335.00 is trading 70.8% below its estimated GF Value™ of 円1,146.41. GuruFocus considers Access Co to be Possible Value Trap.

Key valuation signals for TSE:4813:

Beneish M-Score: -1.82
GF Value™: 円1,146.41 vs. price of 円335.00 (70.8% below fair value)
GF Score™: 52/100 with 1 warning sign

No single metric tells the full story. See the TSE:4813 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Access Co Business Description

Industry Technology Software

Comparable Companies TSE:6050 TSE:4498 TSE:4783 TSE:2354 TSE:431A TSE:4053 TSE:9709 TSE:3968 TSE:9408 TSE:4396 IBM ACN NSE:TCS NSE:INFY TSE:6702 TSE:6701 NSE:HCLTECH FISV XMAD:AMS CTSH

Address 1-10-2 Nakase, Mihama, Chiba, JPN, 261-0023

Website http://www.access-company.com

Access Co Ltd is a Japan-based company. It is a provider of software technologies to the mobile and beyond-personal computer markets. The company provides products that are browser solutions, solutions for internet appliances, digital publishing solutions, smartphone solutions, cloud solutions, and network solutions. The company offers its services to Europe, Asia, and North America market regions.

52GF Score

Get the complete analysis for TSE:4813

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

円335.00

Price

円1,146.41

GF Value

View TSE:4813 Analysis

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