Source: Built around this tool's core design (net cash ratio)
Net cash exceeds market cap (ratio of 1.0+) — in theory you'd get change back after buying the whole company. On its own, though, that condition also surfaces companies sitting on cash while the underlying business sinks. Layering on positive free cash flow and no losses in the last 5 years keeps only the names that hold cash and still earn. This screen is the founding idea of this tool expressed directly as conditions.
Free, no login. The button opens the screener with the above conditions applied.
Data comes from annual securities reports disclosed on EDINET (Japan FSA), via EDINET DB. Price-related values are as of each company's fiscal year-end (back-calculated from the disclosed trailing PER), not live quotes. Coverage: all TSE-listed companies, with names added progressively.
Net cash exceeds market cap (ratio of 1.0+) — in theory, you'd get change back after buying the whole company.
Operating cash flow minus capex. Measures actual cash left in the company's hands rather than accounting profit — the source of funds for dividends and buybacks. Capex is almost entirely missing in EDINET data before fiscal 2018, so older years will look sparse in the historical chart (a structural limitation of the underlying data, not a bug). (Source: Standard corporate finance concept)
Number of the last 5 fiscal years (0-5) in which net income was negative. 3+ flags chronic losses. A quick check that a seemingly-cheap stock isn't a habitual underperformer, and also a building block of the Graham-style defensive investor criteria (no losses in the last 5 years). (Source: This tool's core design)
Cash & deposits + investment securities - total interest-bearing debt. The founding idea of this tool: when this figure exceeds market cap, buying the whole company would in theory leave you with change. Investment securities include cross-shareholdings and so are less certain in value than cash, but are counted at 100% as "total recoverable value if you bought the whole company" (the Kiyohara-style definition values them at 70%, and the Kabu1000-style definition uses its own liquid-assets calculation — worth comparing all three). (Source: This tool's core design)
Percentile rank of net_cash_ratio (net cash / market cap) among all screened companies (excluding banks, insurers and securities firms). Closer to 1 means further toward the top of the group whose market cap looks cheapest relative to net cash. (Source: This tool's core design)
Sum of all debt on which interest is paid — short- and long-term borrowings, bonds payable, lease liabilities, commercial paper, etc. (16 line items as of 2026-07-12). Fields are aligned to cover JP GAAP, IFRS, and US GAAP disclosure formats alike. (Source: This tool's core design)