New Risk • Feb 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.54b (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (JP¥1.54b market cap, or US$9.84m). Reported Earnings • Feb 16
Full year 2025 earnings released: JP¥46.83 loss per share (vs JP¥27.86 profit in FY 2024) Full year 2025 results: JP¥46.83 loss per share (down from JP¥27.86 profit in FY 2024). Revenue: JP¥1.16b (flat on FY 2024). Net loss: JP¥101.0m (down 268% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Bekanntmachung • Feb 13
Betrend Corporation, Annual General Meeting, Mar 27, 2026 Betrend Corporation, Annual General Meeting, Mar 27, 2026. Bekanntmachung • Dec 03
Betrend Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Betrend Corporation announced that they will report fiscal year 2025 results on Feb 13, 2026 New Risk • Sep 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (JP¥1.60b market cap, or US$10.8m). Reported Earnings • Aug 16
Second quarter 2025 earnings released: JP¥12.06 loss per share (vs JP¥9.30 profit in 2Q 2024) Second quarter 2025 results: JP¥12.06 loss per share (down from JP¥9.30 profit in 2Q 2024). Revenue: JP¥286.0m (up 1.1% from 2Q 2024). Net loss: JP¥26.0m (down 230% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Aug 15
Now 21% undervalued Over the last 90 days, the stock has risen 9.3% to JP¥637. The fair value is estimated to be JP¥809, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 42%. Buy Or Sell Opportunity • Jul 25
Now 22% undervalued Over the last 90 days, the stock has risen 12% to JP¥645. The fair value is estimated to be JP¥822, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 42%. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: JP¥0.93 (vs JP¥10.20 in 1Q 2024) First quarter 2025 results: EPS: JP¥0.93 (down from JP¥10.20 in 1Q 2024). Revenue: JP¥285.0m (flat on 1Q 2024). Net income: JP¥2.00m (down 91% from 1Q 2024). Profit margin: 0.7% (down from 7.7% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥506, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 18x in the Software industry in Japan. Total loss to shareholders of 64% over the past three years. Reported Earnings • Apr 05
Full year 2024 earnings released: EPS: JP¥27.86 (vs JP¥30.11 in FY 2023) Full year 2024 results: EPS: JP¥27.86 (down from JP¥30.11 in FY 2023). Revenue: JP¥1.16b (up 5.9% from FY 2023). Net income: JP¥60.0m (down 9.1% from FY 2023). Profit margin: 5.2% (down from 6.0% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 16
Full year 2024 earnings released: EPS: JP¥27.86 (vs JP¥30.11 in FY 2023) Full year 2024 results: EPS: JP¥27.86 (down from JP¥30.11 in FY 2023). Revenue: JP¥1.16b (up 5.9% from FY 2023). Net income: JP¥60.0m (down 9.1% from FY 2023). Profit margin: 5.2% (down from 6.0% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Bekanntmachung • Feb 14
Betrend Corporation, Annual General Meeting, Mar 28, 2025 Betrend Corporation, Annual General Meeting, Mar 28, 2025. Buy Or Sell Opportunity • Feb 06
Now 28% undervalued Over the last 90 days, the stock has risen 13% to JP¥788. The fair value is estimated to be JP¥1,088, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 28%. New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (JP¥2.06b market cap, or US$13.5m). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to JP¥925, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 21x in the Software industry in Japan. Total returns to shareholders of 6.9% over the past three years. Bekanntmachung • Dec 03
Betrend Corporation to Report Fiscal Year 2024 Results on Feb 14, 2025 Betrend Corporation announced that they will report fiscal year 2024 results on Feb 14, 2025 New Risk • Oct 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.48b (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Oct 12
Now 20% overvalued Over the last 90 days, the stock has fallen 2.1% to JP¥708. The fair value is estimated to be JP¥589, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 31%. Reported Earnings • Aug 19
Second quarter 2024 earnings released: EPS: JP¥9.30 (vs JP¥5.46 in 2Q 2023) Second quarter 2024 results: EPS: JP¥9.30 (up from JP¥5.46 in 2Q 2023). Revenue: JP¥283.0m (up 6.0% from 2Q 2023). Net income: JP¥20.0m (up 67% from 2Q 2023). Profit margin: 7.1% (up from 4.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • May 21
First quarter 2024 earnings released: EPS: JP¥10.20 (vs JP¥6.40 in 1Q 2023) First quarter 2024 results: EPS: JP¥10.20 (up from JP¥6.40 in 1Q 2023). Revenue: JP¥284.0m (up 2.9% from 1Q 2023). Net income: JP¥22.0m (up 57% from 1Q 2023). Profit margin: 7.7% (up from 5.1% in 1Q 2023). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,003, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 61% over the past three years. Reported Earnings • Feb 17
Full year 2023 earnings released: EPS: JP¥30.11 (vs JP¥46.05 in FY 2022) Full year 2023 results: EPS: JP¥30.11 (down from JP¥46.05 in FY 2022). Revenue: JP¥1.09b (flat on FY 2022). Net income: JP¥66.0m (down 34% from FY 2022). Profit margin: 6.0% (down from 9.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year. Bekanntmachung • Feb 16
Betrend Corporation, Annual General Meeting, Mar 28, 2024 Betrend Corporation, Annual General Meeting, Mar 28, 2024. New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (5.5% net profit margin). Market cap is less than US$100m (JP¥2.05b market cap, or US$13.8m). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥932, the stock trades at a trailing P/E ratio of 34.7x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 70% over the past three years. Bekanntmachung • Dec 05
Betrend Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Betrend Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 20
Third quarter 2023 earnings released: EPS: JP¥5.92 (vs JP¥5.76 in 3Q 2022) Third quarter 2023 results: EPS: JP¥5.92. Revenue: JP¥257.0m (down 7.6% from 3Q 2022). Net income: JP¥13.0m (down 48% from 3Q 2022). Profit margin: 5.1% (down from 9.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Bekanntmachung • Nov 17
Betrend Corporation (TSE:4020) announces an Equity Buyback for 50,000 shares, representing 2.28% for ¥50 million. Betrend Corporation (TSE:4020) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 2.28% of its total shares outstanding excluding treasury shares, for a total of ¥50 million. The purpose of repurchase program is to improve capital efficiency and implement flexible capital policy in response to changes in the business environment. The repurchase program is valid till May 31, 2024. As of September 30, 2023, the company had 2,196,600 shares outstanding excluding treasury shares and had no shares in treasury. Bekanntmachung • Sep 29
Betrend Corporation to Report Q3, 2023 Results on Nov 14, 2023 Betrend Corporation announced that they will report Q3, 2023 results on Nov 14, 2023 New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.5% Last year net profit margin: 9.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (JP¥1.95b market cap, or US$13.4m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: JP¥5.46 (vs JP¥33.18 in 2Q 2022) Second quarter 2023 results: EPS: JP¥5.46 (down from JP¥33.18 in 2Q 2022). Revenue: JP¥267.0m (down 4.6% from 2Q 2022). Net income: JP¥12.0m (down 67% from 2Q 2022). Profit margin: 4.5% (down from 13% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥871, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 25x in the Software industry in Japan. Total loss to shareholders of 35% over the past year. Buying Opportunity • Aug 03
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,267, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 49%. Buying Opportunity • Jul 18
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,259, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 49%. Bekanntmachung • Jun 26
Betrend Corporation to Report Q2, 2023 Results on Aug 14, 2023 Betrend Corporation announced that they will report Q2, 2023 results on Aug 14, 2023 Reported Earnings • May 20
First quarter 2023 earnings released: EPS: JP¥6.40 (vs JP¥17.65 in 1Q 2022) First quarter 2023 results: EPS: JP¥6.40 (down from JP¥17.65 in 1Q 2022). Revenue: JP¥276.0m (up 6.2% from 1Q 2022). Net income: JP¥14.0m (down 26% from 1Q 2022). Profit margin: 5.1% (down from 7.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Buying Opportunity • May 16
Now 24% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,240, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 8.1%. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,176, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 24x in the Software industry in Japan. Total returns to shareholders of 2.8% over the past year. Buying Opportunity • Apr 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be JP¥1,241, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 8.1%. Buying Opportunity • Mar 31
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,252, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 8.1%. Buying Opportunity • Feb 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥1,258, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 8.1%. Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: JP¥46.06 (vs JP¥56.52 in FY 2021) Full year 2022 results: EPS: JP¥46.06. Revenue: JP¥1.09b (up 3.4% from FY 2021). Net income: JP¥100.0m (up 67% from FY 2021). Profit margin: 9.2% (up from 5.7% in FY 2021). Bekanntmachung • Dec 28
Betrend Corporation to Report Fiscal Year 2022 Results on Feb 14, 2023 Betrend Corporation announced that they will report fiscal year 2022 results on Feb 14, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: JP¥5.76 (vs JP¥13.12 in 3Q 2021) Third quarter 2022 results: EPS: JP¥5.76. Revenue: JP¥278.0m (up 9.9% from 3Q 2021). Net income: JP¥25.0m (up 79% from 3Q 2021). Profit margin: 9.0% (up from 5.5% in 3Q 2021). The increase in margin was driven by higher revenue. Bekanntmachung • Sep 28
Betrend Corporation to Report Q3, 2022 Results on Nov 14, 2022 Betrend Corporation announced that they will report Q3, 2022 results on Nov 14, 2022 Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: JP¥33.18 (vs JP¥13.12 in 2Q 2021) Second quarter 2022 results: EPS: JP¥33.18 (up from JP¥13.12 in 2Q 2021). Revenue: JP¥280.0m (up 11% from 2Q 2021). Net income: JP¥36.0m (up 157% from 2Q 2021). Profit margin: 13% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Bekanntmachung • Jun 30
Betrend Corporation to Report Q2, 2022 Results on Aug 15, 2022 Betrend Corporation announced that they will report Q2, 2022 results on Aug 15, 2022 Reported Earnings • May 16
First quarter 2022 earnings released: EPS: JP¥17.65 (vs JP¥21.81 in 1Q 2021) First quarter 2022 results: EPS: JP¥17.65 (down from JP¥21.81 in 1Q 2021). Revenue: JP¥260.0m (up 14% from 1Q 2021). Net income: JP¥19.0m (down 9.5% from 1Q 2021). Profit margin: 7.3% (down from 9.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Bekanntmachung • Apr 08
Betrend Corporation to Report Q1, 2022 Results on May 12, 2022 Betrend Corporation announced that they will report Q1, 2022 results on May 12, 2022 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥2,350, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 22x in the Software industry in Japan. Total loss to shareholders of 43% over the past year. Bekanntmachung • Feb 17
Betrend Corporation, Annual General Meeting, Mar 30, 2022 Betrend Corporation, Annual General Meeting, Mar 30, 2022. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 25% share price decline to JP¥2,719, the stock trades at a trailing P/E ratio of 61.9x. Average trailing P/E is 26x in the Software industry in Japan. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥3,360, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 27x in the Software industry in Japan. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 32% share price gain to JP¥4,200, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 30x in the Software industry in Japan. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 27% share price gain to JP¥3,570, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 29x in the Software industry in Japan. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥2,938, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 28x in the Software industry in Japan. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 25% share price decline to JP¥3,040, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 34x in the Software industry in Japan. Reported Earnings • Apr 06
Full year 2020 earnings released: EPS JP¥80.15 (vs JP¥39.22 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥857.0m (up 15% from FY 2019). Net income: JP¥76.0m (up 105% from FY 2019). Profit margin: 8.9% (up from 5.0% in FY 2019). The increase in margin was driven by higher revenue. Bekanntmachung • Feb 17
Betrend Corporation, Annual General Meeting, Mar 30, 2021 Betrend Corporation, Annual General Meeting, Mar 30, 2021. Bekanntmachung • Dec 30
Betrend Corporation to Report Fiscal Year 2020 Results on Feb 15, 2021 Betrend Corporation announced that they will report fiscal year 2020 results on Feb 15, 2021 Bekanntmachung • Dec 18
Betrend Corporation has completed an IPO in the amount of ¥460.6 million. Betrend Corporation has completed an IPO in the amount of ¥460.6 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 164,500
Price\Range: ¥2800
Discount Per Security: ¥224
Transaction Features: Sponsor Backed Offering 
