Link and Motivation Inc. (2170.T)

Link and Motivation Inc. (2170.T) — VMCI valuation read

Link and Motivation Inc. sits at VMCI 59/100, with the Industrials sector median at 50. That 9-point spread is the first thing to note on 2170.T: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 2170.T are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 2170.T: 2170.T trades at 22.0x earnings, 22% above the Industrials median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Industrials median (10.0%). The Risk read: net debt to EBITDA of 1.6x is the rate-sensitivity line to watch, anchoring the bear scenario on a measurable balance-sheet metric.

2170.T fell 2.8% over the trailing 7 days, with a -7.4% read on a 30-day basis.