Japanese Software Undervalued over 20% based on DCF

ibis

Market Cap: JP¥14.7b

Operates as a mobile-savvy engineering company in Japan, the United States, and internationally.

WILLs

Market Cap: JP¥14.6b

Develops and offers a shareholder management platform utilizing blockchain technology in Japan and internationally.

KinjiroLtd

Market Cap: JP¥13.8b

Provides human resource management (HRM) solutions.

Feedforce Group

Market Cap: JP¥13.3b

Engages in data feed, digital advertising, social media marketing, and other businesses in Japan.

HIMACS

Market Cap: JP¥12.7b

Provides defined valued processes for various system lifecycles in Japan.

Ubicom Holdings

Market Cap: JP¥12.1b

Engages in the provision of IT solutions in Japan, the Philippines, China and the United States.

ATLED

Market Cap: JP¥10.5b

Engages in the development and sale of software solutions in Japan.

DreamArts

Market Cap: JP¥10.0b

Engages in planning, developing, and selling of cloud products for large companies in Japan.

Gunosy

Market Cap: JP¥9.3b

Primarily engages in the operation of news and information applications in Japan.

i Cubed Systems

Market Cap: JP¥9.2b

Provides cloud-based mobile device management services under the CLOMO MDM name in Japan.

Tokai Soft

Market Cap: JP¥8.1b

Provides factory automation and embedded software development and network infrastructure technology services in Japan.

AxisLtd

Market Cap: JP¥7.2b

Engages in the research and development, sale, consultation, and operation management of computer systems.

XNET

Market Cap: JP¥6.9b

Provides software applications outsourcing services in Japan.

Showa System Engineering

Market Cap: JP¥6.8b

Engages in the development, operation, and consulting of information systems.

rakumo

Market Cap: JP¥6.5b

Develops and markets cloud extension tools in Japan.

SMN

Market Cap: JP¥5.8b

Engages in digital marketing activities business in Japan.

SYS Holdings

Market Cap: JP¥5.7b

Provides information technology services in Japan and internationally.

CNSLtd

Market Cap: JP¥5.4b

Provides system engineering services in Japan.

Fuva Brain

Market Cap: JP¥5.1b

Engages in the development and sale of cyber security solutions in Japan.

YMIRLINKInc

Market Cap: JP¥5.0b

Together with its subsidiary, provides messaging solutions in Japan.

Capital Asset Planning

Market Cap: JP¥4.9b

Provides system integration services in Japan and internationally.

Systems Design

Market Cap: JP¥4.7b

Operates as an information service company.

Tera Technology

Market Cap: JP¥3.6b

Operates as an information technology consulting company that offers information system construction, operation, and maintenance services in Japan.

TENDALTD

Market Cap: JP¥3.3b

Engages in the DX solutions business in Japan.

Intimate Merger

Market Cap: JP¥3.2b

Engages in the data management platforms business in Japan.

Cgs Holdings

Market Cap: JP¥3.2b

Develops, distributes, and supports CAD/CAM, production management, and prototyping solutions in Japan and internationally.

Visual Processing Japan

Market Cap: JP¥3.1b

Engages in the development of digital asset management (DAM) solutions in Japan.

REBIBLELtd

Market Cap: JP¥2.1b

Develops and offers a mobile application software that connects people with athletes.

AXIS IT Partners

Market Cap: JP¥2.2b

Provides systems development to outsourcing support services for business transformation in companies and government agencies.

Kaizen Platform

Market Cap: JP¥2.1b

Provides user experience (UX) solutions to improve conversion rates (CVR) for client websites.

Delivery Consulting

Market Cap: JP¥1.9b

Provides technology solutions consulting services in Japan and internationally.

MIT Holdings

Market Cap: JP¥1.9b

Engages in the information service business.