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Bitcoin JapanTSE:8105 -2.92%51 Beneish M-Score is -3.42 as of Jul. 14, 2026. GuruFocus rates TSE:8105 with a GF Score™ of 51/100 and a GF Value™ of 円37.00 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 997 Manufacturing - Apparel & Accessories companies, Bitcoin Japan ranks better than 91.37% 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 -3.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Bitcoin Japan's Beneish M-Score or its related term are showing as below:
TSE:8105'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.42 Med: -2.69 Max: -0.56
Current: -3.42
During the past 13 years, the highest Beneish M-Score of Bitcoin Japan was -0.56. The lowest was -3.42. And the median was -2.69.
Bitcoin Japan Beneish M-Score Related Terms
Bitcoin Japan Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Bitcoin Japan'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.
TSE:8105 vs RL, LEVI, VFC: Beneish M-Score Comparison
For the Apparel Manufacturing subindustry, Bitcoin Japan'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.
Bitcoin Japan Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Bitcoin Japan's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bitcoin Japan's Beneish M-Score falls into.
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 Bitcoin Japan 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 * 0.2366
+
0.528 * 0.9717
+
0.404 * 0.7541
+
0.892 * 0.9549
+
0.115 * 0.7749
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1795
+
4.679 * -0.02645
-
0.327 * 0.6968
=
-3.42
* 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.
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.
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))
=
(9.833 / (9.833 + 117.107))
/
(9.074 / (9.074 + 81.704))
=
0.077462
/
0.099958
=
0.7749
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
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
=
(-537.257 - 0
-
-414.581)
/
4638.087
=
-0.02645
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.
Bitcoin Japan has a M-score of -3.42 suggests that the company is unlikely to be a manipulator.
Bitcoin Japan (TSE:8105) has a Beneish M-Score of -3.42 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bitcoin Japan and its competitors. According to the industry distribution chart, Bitcoin Japan ranks #86 out of 997 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 8.6%.
Is Bitcoin Japan's Beneish M-Score too high?
Bitcoin Japan's current Beneish M-Score is -3.42. Based on the distribution chart, Bitcoin Japan ranks #86 out of 997 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Bitcoin Japan has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bitcoin Japan's Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Bitcoin Japan ranks #86 out of 997 companies for Beneish M-Score. This places Bitcoin Japan in the top 9% 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Bitcoin Japan and its competitors. Bitcoin Japan's current Beneish M-Score is -3.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bitcoin Japan stock overvalued right now?
Based on GuruFocus' analysis, Bitcoin Japan (TSE:8105) is currently considered Significantly Overvalued. The stock's GF Value™ is 円37.00, compared to a current price of 円133.00 — trading 259.5% above its estimated fair value. The current Beneish M-Score is -3.42. Bitcoin Japan's overall GF Score™ is 51/100 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 Bitcoin Japan (TSE:8105), the current Beneish M-Score is -3.42 as of Jul. 14, 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 Bitcoin Japan (TSE:8105) Overvalued in 2026?
Based on GuruFocus' analysis, Bitcoin Japan stock appears to be overvalued.
The current stock price of 円133.00 is trading 259.5% above its estimated GF Value™ of 円37.00.
GuruFocus considers Bitcoin Japan to be Significantly Overvalued.
Key valuation signals for TSE:8105:
Beneish M-Score: -3.42
GF Value™: 円37.00 vs. price of 円133.00 (259.5% above fair value)
No single metric tells the full story. See the TSE:8105 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bitcoin Japan Corp operates at the intersection of Bitcoin-related financial services and artificial intelligence. The company is developing infrastructure intended to support Japan's participation in the emerging intelligence-focused economy, combining AI-related investments with a balance sheet that includes Bitcoin holdings.
51GF Score
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