Micware Co., Ltd. (MWC) SEC filings reflect its status as a Japan-based foreign issuer with American depositary shares listed on Nasdaq. The company's filings identify Form 20-F status and use Form 6-K reports to furnish current information, press releases, investor presentations, financial results, shareholder materials, and transaction disclosures.
For Micware, the most relevant filings are often 6-K reports because they document company announcements tied to automotive and mobility software. These filings have covered IVI systems, navigation, location-based services, micAuto, DynaPlanet, investor presentations, company-sponsored research, annual meeting results, and subsidiary share transfers. They also show how the company frames its operating focus across software-defined vehicles, location-based services, and other activities.
MWC filing review should also account for the ADS structure. Micware has disclosed that each ADS represents one ordinary share, which is important when comparing U.S.-traded ADS information with ordinary-share governance materials. Because Micware is a foreign private issuer, U.S. domestic filing labels such as 10-K and 10-Q are less central than Form 20-F and Form 6-K disclosures.
Important filing topics include financial statements, shareholder approvals, group reorganization steps, subsidiary ownership changes involving Micware North America and Micware Asia Pacific, and cautionary language around company-sponsored research. Filings can also help distinguish exploratory announcements, such as memoranda of understanding, from definitive business arrangements.
Micware Co., Ltd. has a significant shareholder, Hideaki Tokuhara, who reports beneficial ownership of 3,446,300 American Depositary Shares, each representing one ordinary share of Micware.
This position represents 5.8% of the class, calculated based on 59,419,414 ordinary shares outstanding as of June 30, 2026. Tokuhara has sole voting power and sole dispositive power over all 3,446,300 shares, with no shared voting or dispositive power reported.
Micware Co., Ltd. major shareholder Masahide Shigeno reported beneficial ownership of Micware American Depositary Shares. As of June 30, 2026, he beneficially owned 5,451,420 ordinary shares, representing 9.1% of the class. This includes 4,699,500 ordinary shares directly held and 751,920 ordinary shares issuable upon exercise of stock options.
Shigeno has sole voting and sole dispositive power over all 5,451,420 shares and no shared voting or dispositive power. The ownership percentage is based on 59,419,414 ordinary shares outstanding plus 751,920 shares issuable under his stock options.
Micware Co., Ltd. received a Schedule 13G filing from Kenji Narushima reporting beneficial ownership of Micware American Depositary Shares, each representing one ordinary share. Narushima reports beneficial ownership of 7,362,550 ordinary shares, representing 12.2% of the class as of June 30, 2026.
The reported holdings consist of 6,266,000 ordinary shares directly held and 1,096,550 ordinary shares issuable upon exercise of stock options held by Narushima. He reports sole voting and sole dispositive power over all 7,362,550 shares, with no shared voting or dispositive power. The percentage is based on 59,419,414 ordinary shares outstanding plus the 1,096,550 shares underlying his options.
Micware Co., Ltd. is reorganizing around its platform-focused growth strategy by launching a new subsidiary, Micware Spacia Co., Ltd., to fully develop its spatial intelligence business for the Web4 era. The DynaPlanet platform, which previously belonged to Micware, will become a business of Micware Spacia. Masahide Shigeno, currently Representative Director, Deputy President and CTO of Micware and responsible for DynaPlanet, will serve as Representative Director, President and CEO of Micware Spacia while continuing his positions at Micware. In addition, part of the existing Micware Navigations Co., Ltd. business will be transferred to Micware Automotive Co., Ltd. to strengthen the micAuto platform business, and Kenta Imaida, now Representative Director, President and CEO of Micware Navigations, will move to Micware Automotive. Micware states that this launch marks the start of full-scale implementation of its growth strategy, with related measures to be announced in stages.
Micware Co., Ltd. reported solid growth for fiscal year 2026 and highlighted its recent Nasdaq listing. Revenue reached JPY21.9 billion (US$140.3 million), up 3.7% year over year, while operating profit rose 9.4% to JPY2.4 billion and net income attributable to ordinary shareholders increased 20.4% to JPY1.6 billion. Basic and diluted earnings per share improved to JPY28.58 from JPY25.49. Gross profit climbed to JPY8.0 billion with gross margin expanding to 36.8%, supported by disciplined cost control despite higher R&D spending.
Micware ended the year with JPY8.3 billion (US$52.9 million) in cash and cash equivalents and generated JPY2.1 billion in operating cash flow. In May 2026, the company completed an initial public offering on the Nasdaq Global Market, issuing 2,850,000 American Depositary Shares plus 427,500 from a fully exercised over-allotment at US$8.00 per ADS, for total gross proceeds of US$26.2 million before expenses. Management plans to evolve from an in-vehicle infotainment supplier toward a Software Defined Vehicle software platform provider and to commercialize its DynaPlanet 3D mapping platform, which it expects to begin monetizing in fiscal 2027.
Micware Co., Ltd. files its Form 20-F annual report for the fiscal year ended February 28, 2026. The company reports 56,141,914 ordinary shares outstanding as of that date, adjusted for a 241-for-1 share split effective March 31, 2026.
Micware’s business centers on automotive software, digital mapping and location-based services, with software development services generating JPY17,521.6 million (approximately $112.3 million) in 2026, or 80.0% of total revenue. Revenue is heavily concentrated: in 2026 Honda Group, Toyota Group and Uni Electronics represented 50.6%, 16.3% and 11.4% of revenue.
The report highlights intense competition from global automotive and mapping players, reliance on key OEM customers who are also major shareholders, rapid technology shifts including AI-based products, privacy and cybersecurity risks, dependence on cloud and data providers, open source and intellectual property issues, and exposure to geopolitical tensions, foreign exchange and natural disasters.
Micware Co., Ltd. reports that its annual general meeting of shareholders was conducted by written resolution, with holders of Ordinary Shares representing 56,141,914 votes, or 100% of votes exercisable as of the February 28, 2026 record date, unanimously approving all proposals. Shareholders approved the financial statements for the 23rd fiscal year from March 1, 2025 to February 28, 2026 and elected one director, Kazunori Mori.
The voting figures reflect a 241-for-1 share split of issued and outstanding Ordinary Shares that became effective on March 31, 2026. Mr. Mori’s election as director became effective May 29, 2026, adding an executive with experience at Toyota Tsusho, NEXTY Electronics, and his own consulting firm.
Micware Co., Ltd. filed an initial Form 3 for Mori Kazunori, formally identifying him as a director of the company. This filing establishes his status as an insider subject to reporting rules on future trades in Micware’s securities. The filing does not list any current holdings or transactions.
Micware Co., Ltd. reports that the underwriter for its recent initial public offering fully exercised a 45-day over-allotment option, purchasing an additional 427,500 American Depositary Shares (ADSs) at $8.00 per ADS. This brought total ADSs sold in the offering to 3,277,500 and aggregate gross proceeds to approximately $26.2 million before underwriting discounts and expenses.
The ADSs trade on the Nasdaq Global Market under the symbol MWC. Micware plans to use the IPO proceeds to fund its Dynamic Street Map & Market Place project, expand its micAuto-PF in-vehicle infotainment platform, support general corporate purposes, make strategic investments in Software Defined Vehicles and Location-Based Services, and increase marketing and advertising.
Micware Co., Ltd. is holding its annual general meeting by written resolution, asking shareholders to approve financial statements for the 23rd fiscal year (March 1, 2025–February 28, 2026) and elect one new director, Kazunori Mori.
For this fiscal year, consolidated revenue reached 22,233,692 thousand yen, up 5.0% year-on-year, led by contract development revenue of 17,688,510 thousand yen, up 4.9%. Operating profit was 2,231,187 thousand yen, up 14.7%, and net income attributable to owners of the parent was 1,534,354 thousand yen, up 31.4%, showing stronger profitability despite higher development investment.
The company focuses on SDV (Software-Defined Vehicles), connected services, and LBS (Location-Based Services), is expanding globally with subsidiaries in North America, Asia, and Europe, and increased group headcount to 561 employees. After year-end it executed a 241-for-1 stock split, raising issued shares to 58,054,490, and is preparing a Nasdaq Global Market listing via ADSs, supported by a previously filed Form F-1.