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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
IR Japan Holdings's Net-Net Working Capital for the quarter that ended in Mar. 2026 was 円221.19.
The industry rank for IR Japan Holdings's Net-Net Working Capital or its related term are showing as below:
TSE:6035's Price-to-Net-Net-Working-Capital is ranked better than 71.95% of 435
companies
in the Business Services industry
Industry Median: 5.57
vs TSE:6035: 2.98
IR Japan Holdings (TSE:6035) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
IR Japan Holdings Net-Net Working Capital Related Terms
IR Japan Holdings Net-Net Working Capital Historical Data
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The historical data trend for IR Japan Holdings's Net-Net Working Capital 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:6035 vs VRSK, EFX, BAH: Net-Net Working Capital Comparison
For the Consulting Services subindustry, IR Japan Holdings's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.
IR Japan Holdings Price-to-Net-Net-Working-Capital vs Business Services Industry
For the Business Services industry and Industrials sector, IR Japan Holdings's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where IR Japan Holdings's Price-to-Net-Net-Working-Capital falls into.
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of 円221.19 mean?
IR Japan Holdings (TSE:6035) has a Net-Net Working Capital of 円221.19 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on IR Japan Holdings According to the industry distribution chart, IR Japan Holdings ranks #122 out of 435 companies in the Business Services industry, placing it in the top 28%.
Is IR Japan Holdings' Net-Net Working Capital too high?
IR Japan Holdings' current Net-Net Working Capital is 円221.19. Based on the distribution chart, IR Japan Holdings ranks #122 out of 435 companies in the Business Services industry, which is above the industry midpoint. Overall, IR Japan Holdings has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does IR Japan Holdings' Net-Net Working Capital compare to VRSK and EFX?
According to the Business Services industry distribution chart, IR Japan Holdings ranks #122 out of 435 companies for Net-Net Working Capital. This puts IR Japan Holdings in the upper half of its industry. The industry median Net-Net Working Capital is 5.57. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Business Services company?
The median Net-Net Working Capital among Business Services companies is 5.57, based on 435 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital 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 Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on IR Japan Holdings For the Business Services industry, the median Net-Net Working Capital is 5.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IR Japan Holdings's current Net-Net Working Capital is 円221.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IR Japan Holdings stock overvalued right now?
Based on GuruFocus' analysis, IR Japan Holdings (TSE:6035) is currently considered Modestly Undervalued. The stock's GF Value™ is 円917.58, compared to a current price of 円716.00 — trading 22% below its estimated fair value. The current Net-Net Working Capital is 円221.19. IR Japan Holdings' overall GF Score™ is 67/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For IR Japan Holdings (TSE:6035), the current Net-Net Working Capital is 円221.19 as of Mar. 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 IR Japan Holdings (TSE:6035) Overvalued in 2026?
Based on GuruFocus' analysis, IR Japan Holdings stock appears to be undervalued.
The current stock price of 円716.00 is trading 22% below its estimated GF Value™ of 円917.58.
GuruFocus considers IR Japan Holdings to be Modestly Undervalued.
Key valuation signals for TSE:6035:
Net-Net Working Capital: 円221.19
GF Value™: 円917.58 vs. price of 円716.00 (22% below fair value)
No single metric tells the full story. See the TSE:6035 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IR Japan Holdings Ltd is engaged in the provision of investor relation (IR) and shareholder relation (SR) consulting services to publicly listed companies in Japan. It also provides investment banking business and stock transfer agency business.
67GF Score
Get the complete analysis for TSE:6035
Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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