Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to JP¥1,916, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the IT industry in Japan. Total loss to shareholders of 34% over the past three years. Buy Or Sell Opportunity • Jun 15
Now 27% overvalued Over the last 90 days, the stock has fallen 20% to JP¥1,811. The fair value is estimated to be JP¥1,429, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 8.1%. Revenue is forecast to grow by 94% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. New Risk • Jun 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). High level of non-cash earnings (36% accrual ratio). Minor Risk Market cap is less than US$100m (JP¥13.4b market cap, or US$83.6m). Reported Earnings • Jun 11
Second quarter 2026 earnings released: EPS: JP¥14.30 (vs JP¥14.04 in 2Q 2025) Second quarter 2026 results: EPS: JP¥14.30 (up from JP¥14.04 in 2Q 2025). Revenue: JP¥460.0m (up 9.0% from 2Q 2025). Net income: JP¥112.0m (up 2.8% from 2Q 2025). Profit margin: 24% (down from 26% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,676, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the IT industry in Japan. Total loss to shareholders of 28% over the past three years. New Risk • May 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.4b (US$97.2m) This is considered a minor 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: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (JP¥15.4b market cap, or US$97.2m). Reported Earnings • Mar 12
First quarter 2026 earnings released: EPS: JP¥10.72 (vs JP¥10.36 in 1Q 2025) First quarter 2026 results: EPS: JP¥10.72 (up from JP¥10.36 in 1Q 2025). Revenue: JP¥391.0m (up 4.3% from 1Q 2025). Net income: JP¥84.0m (up 5.0% from 1Q 2025). Profit margin: 22% (in line with 1Q 2025). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Ankündigung • Mar 11
pluszero, Inc. (TSE:5132) announces an Equity Buyback for 100,000 shares, representing 1.27% for ¥200 million. pluszero, Inc. (TSE:5132) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 1.27% of its issued share capital, for ¥200 million. The purpose of the program is to implement flexible capital policies in response to changes in the business environment. The program will run until May 31, 2026. As of January 31, 2026, the company had 7,850,055 shares in issue (excluding treasury stock) and 303 shares in treasury. New Risk • Feb 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.5b (US$99.5m) This is considered a minor 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 Risk High level of non-cash earnings (34% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (JP¥15.5b market cap, or US$99.5m). Buy Or Sell Opportunity • Feb 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to JP¥2,422. The fair value is estimated to be JP¥3,115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Reported Earnings • Dec 16
Full year 2025 earnings released: EPS: JP¥47.18 (vs JP¥20.02 in FY 2024) Full year 2025 results: EPS: JP¥47.18 (up from JP¥20.02 in FY 2024). Revenue: JP¥1.55b (up 27% from FY 2024). Net income: JP¥366.0m (up 139% from FY 2024). Profit margin: 24% (up from 13% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥2,848, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the IT industry in Japan. Total returns to shareholders of 88% over the past three years. Ankündigung • Dec 10
pluszero, Inc., Annual General Meeting, Jan 27, 2026 pluszero, Inc., Annual General Meeting, Jan 27, 2026. New Risk • Dec 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Ankündigung • Oct 19
pluszero, Inc. to Report Fiscal Year 2025 Results on Dec 10, 2025 pluszero, Inc. announced that they will report fiscal year 2025 results on Dec 10, 2025 Reported Earnings • Sep 12
Third quarter 2025 earnings released: EPS: JP¥7.98 (vs JP¥3.03 in 3Q 2024) Third quarter 2025 results: EPS: JP¥7.98 (up from JP¥3.03 in 3Q 2024). Revenue: JP¥366.0m (up 17% from 3Q 2024). Net income: JP¥62.0m (up 15% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT industry in Japan. New Risk • Aug 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.5% average weekly change). High level of non-cash earnings (37% accrual ratio). Ankündigung • Jul 20
pluszero, Inc. to Report Q3, 2025 Results on Sep 10, 2025 pluszero, Inc. announced that they will report Q3, 2025 results on Sep 10, 2025 Reported Earnings • Jun 12
Second quarter 2025 earnings released: EPS: JP¥14.04 (vs JP¥19.24 in 2Q 2024) Second quarter 2025 results: EPS: JP¥14.04. Revenue: JP¥422.0m (up 35% from 2Q 2024). Net income: JP¥109.0m (up 122% from 2Q 2024). Profit margin: 26% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the IT industry in Japan. New Risk • May 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Ankündigung • Apr 29
pluszero, Inc. to Report Q2, 2025 Results on Jun 11, 2025 pluszero, Inc. announced that they will report Q2, 2025 results on Jun 11, 2025 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,433, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 18x in the IT industry in Japan. Total loss to shareholders of 6.1% over the past year. Reported Earnings • Mar 13
First quarter 2025 earnings released: EPS: JP¥10.36 (vs JP¥3.16 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥10.36 (up from JP¥3.16 loss in 1Q 2024). Revenue: JP¥375.0m (up 40% from 1Q 2024). Net income: JP¥80.0m (up JP¥88.0m from 1Q 2024). Profit margin: 21% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Japan. Ankündigung • Feb 04
pluszero, Inc. to Report Q1, 2025 Results on Mar 12, 2025 pluszero, Inc. announced that they will report Q1, 2025 results on Mar 12, 2025 Reported Earnings • Dec 13
Full year 2024 earnings released: EPS: JP¥20.02 (vs JP¥48.02 in FY 2023) Full year 2024 results: EPS: JP¥20.02. Revenue: JP¥1.22b (up 36% from FY 2023). Net income: JP¥153.0m (up 28% from FY 2023). Profit margin: 13% (in line with FY 2023). Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the IT industry in Japan. Ankündigung • Dec 11
pluszero, Inc., Annual General Meeting, Jan 24, 2025 pluszero, Inc., Annual General Meeting, Jan 24, 2025. Ankündigung • Oct 06
pluszero, Inc. to Report Fiscal Year 2024 Results on Dec 12, 2024 pluszero, Inc. announced that they will report fiscal year 2024 results on Dec 12, 2024 Reported Earnings • Sep 15
Third quarter 2024 earnings released: EPS: JP¥3.03 (vs JP¥11.59 in 3Q 2023) Third quarter 2024 results: EPS: JP¥3.03. Revenue: JP¥313.0m (up 34% from 3Q 2023). Net income: JP¥54.0m (up 86% from 3Q 2023). Profit margin: 17% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥12.6b (US$88.6m) This is considered a minor 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 Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (JP¥12.6b market cap, or US$88.6m). Reported Earnings • Jun 17
Second quarter 2024 earnings released: EPS: JP¥19.24 (vs JP¥11.59 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.24 (up from JP¥11.59 in 2Q 2023). Revenue: JP¥313.0m (up 34% from 2Q 2023). Net income: JP¥49.0m (up 69% from 2Q 2023). Profit margin: 16% (up from 12% in 2Q 2023). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the IT industry in Japan. Reported Earnings • Mar 17
First quarter 2024 earnings released: JP¥3.16 loss per share (vs JP¥5.19 profit in 1Q 2023) First quarter 2024 results: JP¥3.16 loss per share (down from JP¥5.19 profit in 1Q 2023). Revenue: JP¥268.0m (up 40% from 1Q 2023). Net loss: JP¥8.00m (down 173% from profit in 1Q 2023). Reported Earnings • Feb 03
Full year 2023 earnings released: EPS: JP¥48.02 (vs JP¥56.89 in FY 2022) Full year 2023 results: EPS: JP¥48.02 (down from JP¥56.89 in FY 2022). Revenue: JP¥894.0m (up 23% from FY 2022). Net income: JP¥120.0m (flat on FY 2022). Profit margin: 13% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Ankündigung • Dec 16
pluszero, Inc., Annual General Meeting, Jan 26, 2024 pluszero, Inc., Annual General Meeting, Jan 26, 2024. Ankündigung • Oct 28
pluszero, Inc. to Report Q4, 2023 Results on Dec 14, 2023 pluszero, Inc. announced that they will report Q4, 2023 results on Dec 14, 2023 New Risk • Jul 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported October 2022 fiscal period end). Market cap is less than US$100m (JP¥13.2b market cap, or US$93.9m). New Risk • Jul 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥13.8b (US$99.2m) This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (JP¥13.8b market cap, or US$99.2m). Ankündigung • Dec 16
pluszero, Inc., Annual General Meeting, Jan 25, 2023 pluszero, Inc., Annual General Meeting, Jan 25, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Outside Board Member Eiji Uda was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 13
pluszero, Inc. to Report Q4, 2022 Results on Dec 14, 2022 pluszero, Inc. announced that they will report Q4, 2022 results on Dec 14, 2022 Board Change • Oct 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Outside Board Member Eiji Uda was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.