Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 02 June 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥27.97 (vs JP¥20.76 in 3Q 2025) Third quarter 2026 results: EPS: JP¥27.97 (up from JP¥20.76 in 3Q 2025). Revenue: JP¥7.52b (up 22% from 3Q 2025). Net income: JP¥468.0m (up 34% from 3Q 2025). Profit margin: 6.2% (up from 5.7% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Annonce • Jan 30
AGS Corporation (TSE:3648) announces an Equity Buyback for 50,000 shares, representing 0.3% for ¥70.7 million. AGS Corporation (TSE:3648) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 0.3% of its issued share capital, for ¥70.7 million. Shares will be repurchased at a price of ¥1,414 per share. The purpose of the program is to enhance shareholder returns and improve capital efficiency. Repurchased shares will be cancelled. The program is valid till February 2, 2026. As of September 30, 2024, there are 16,732,032 outstanding shares (excluding treasury stock) and 476,700 treasury shares. Annonce • Dec 06
AGS Corporation to Report Q3, 2026 Results on Jan 30, 2026 AGS Corporation announced that they will report Q3, 2026 results on Jan 30, 2026 Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥39.34 (vs JP¥16.96 in 2Q 2025) Second quarter 2026 results: EPS: JP¥39.34 (up from JP¥16.96 in 2Q 2025). Revenue: JP¥7.36b (up 26% from 2Q 2025). Net income: JP¥658.0m (up 130% from 2Q 2025). Profit margin: 8.9% (up from 4.9% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Oct 16
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 9.0% 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 Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Dividend is not well covered by cash flows (229% cash payout ratio). Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,434, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 151% over the past three years. Annonce • Sep 25
Taiheiyo Cement Corporation (TSE:5233) completed the acquisition of remaining 34.3% stake in Pacific Systems Corporation (TSE:3847) from a group of shareholders. Taiheiyo Cement Corporation (TSE:5233) proposed to acquire remaining 34.3% stake in Pacific Systems Corporation (TSE:3847) from a group of shareholders for ¥3.5 billion on August 8, 2025. A cash consideration valued at ¥6850 per share will be paid by Taiheiyo Cement Corporation. Upon completion, Taiheiyo Cement Corporation will own 100% stake in Pacific Systems Corporation. Tender Offeror aims to acquire all of the Target Company Shares and make the Target Company a wholly owned subsidiary company of the Tender Offeror. the Tender Offeror has not set a maximum number of shares to be purchased in the Tender Offer, so the Target Company Shares might be delisted through prescribed procedures in accordance with delisting criteria set out by the Tokyo Stock Exchange depending on the result of the Tender Offer. In addition, even if they do not fall under those criteria at the time of conclusion of the Tender Offer, the Tender Offeror plans to carry out the Squeeze-Out Procedures.
The transaction is subject to minimum tender. The minimum number of shares to be purchased has been set as 14,400 shares. If the total number of the Tendered Shares is less than the minimum number of shares to be purchased the purchase, etc. of all of the Tendered Shares will not be carried out. The expected completion of the transaction is September 24, 2025.
Taiheiyo Cement Corporation (TSE:5233) completed the acquisition of remaining 34.3% stake in Pacific Systems Corporation (TSE:3847) from a group of shareholders on September 24, 2025. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Annonce • Sep 11
AGS Corporation to Report Q2, 2026 Results on Oct 30, 2025 AGS Corporation announced that they will report Q2, 2026 results on Oct 30, 2025 Annonce • Aug 08
Taiheiyo Cement Corporation (TSE:5233) proposed to acquire remaining 34.31% stake in Pacific Systems Corporation (TSE:3847) from from a group of shareholders for ¥3.5 billion. Taiheiyo Cement Corporation (TSE:5233) proposed to acquire remaining 34.31% stake in Pacific Systems Corporation (TSE:3847) from from a group of shareholders for ¥3.5 billion on August 8, 2025. A cash consideration valued at ¥6850 per share will be paid by Taiheiyo Cement Corporation. Upon completion, Taiheiyo Cement Corporation will own 100% stake in Pacific Systems Corporation. Tender Offeror aims to acquire all of the Target Company Shares and make the Target Company a wholly owned subsidiary company of the Tender Offeror. the Tender Offeror has not set a maximum number of shares to be purchased in the Tender Offer, so the Target Company Shares might be delisted through prescribed procedures in accordance with delisting criteria set out by the Tokyo Stock Exchange depending on the result of the Tender Offer. In addition, even if they do not fall under those criteria at the time of conclusion of the Tender Offer, the Tender Offeror plans to carry out the Squeeze-Out Procedures.
The transaction is subject to minimum tender. The minimum number of shares to be purchased has been set as 14,400 shares. If the total number of the Tendered Shares is less than the minimum number of shares to be purchased the purchase, etc. of all of the Tendered Shares will not be carried out. The expected completion of the transaction is September 24, 2025. Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥20.58 (vs JP¥7.20 in 1Q 2025) First quarter 2026 results: EPS: JP¥20.58 (up from JP¥7.20 in 1Q 2025). Revenue: JP¥6.01b (up 18% from 1Q 2025). Net income: JP¥344.0m (up 182% from 1Q 2025). Profit margin: 5.7% (up from 2.4% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,308, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 93% over the past three years. Annonce • Jun 25
AGS Corporation to Report Q1, 2026 Results on Jul 30, 2025 AGS Corporation announced that they will report Q1, 2026 results on Jul 30, 2025 Reported Earnings • Jun 24
Full year 2025 earnings released: EPS: JP¥81.86 (vs JP¥53.99 in FY 2024) Full year 2025 results: EPS: JP¥81.86 (up from JP¥53.99 in FY 2024). Revenue: JP¥24.9b (up 13% from FY 2024). Net income: JP¥1.38b (up 47% from FY 2024). Profit margin: 5.5% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥81.86 (vs JP¥53.99 in FY 2024) Full year 2025 results: EPS: JP¥81.86 (up from JP¥53.99 in FY 2024). Revenue: JP¥24.9b (up 13% from FY 2024). Net income: JP¥1.38b (up 47% from FY 2024). Profit margin: 5.5% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annonce • May 14
AGS Corporation, Annual General Meeting, Jun 20, 2025 AGS Corporation, Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥671, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 6.6% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 04 June 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Annonce • Mar 11
AGS Corporation to Report Fiscal Year 2025 Results on May 14, 2025 AGS Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: JP¥20.76 (vs JP¥22.00 in 3Q 2024) Third quarter 2025 results: EPS: JP¥20.76 (down from JP¥22.00 in 3Q 2024). Revenue: JP¥6.15b (up 8.2% from 3Q 2024). Net income: JP¥349.0m (down 7.9% from 3Q 2024). Profit margin: 5.7% (down from 6.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥958, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 24% over the past three years. Annonce • Dec 10
AGS Corporation to Report Q3, 2025 Results on Jan 29, 2025 AGS Corporation announced that they will report Q3, 2025 results on Jan 29, 2025 Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥16.96 (vs JP¥16.44 in 2Q 2024) Second quarter 2025 results: EPS: JP¥16.96. Revenue: JP¥5.84b (up 2.0% from 2Q 2024). Net income: JP¥286.0m (flat on 2Q 2024). Profit margin: 4.9% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Annonce • Oct 30
AGS Corporation (TSE:3648) announces an Equity Buyback for 150,000 shares, representing 0.89% for ¥100 million. AGS Corporation (TSE:3648) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 0.89% of its issued share capital, for ¥100 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program is valid till April 30, 2025. As of September 30, 2024, there are 16,833,642 outstanding shares and 494,290 treasury shares." Upcoming Dividend • Sep 20
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Annonce • Sep 10
AGS Corporation to Report Q2, 2025 Results on Oct 30, 2024 AGS Corporation announced that they will report Q2, 2025 results on Oct 30, 2024 New Risk • Aug 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.7b (US$98.8m) 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 (5.7% average weekly change). Market cap is less than US$100m (JP¥14.7b market cap, or US$98.8m). Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: JP¥7.20 (vs JP¥10.23 in 1Q 2024) First quarter 2025 results: EPS: JP¥7.20 (down from JP¥10.23 in 1Q 2024). Revenue: JP¥5.09b (up 5.2% from 1Q 2024). Net income: JP¥122.0m (down 32% from 1Q 2024). Profit margin: 2.4% (down from 3.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • Jun 26
AGS Corporation to Report Q1, 2025 Final Results on Jul 30, 2024 AGS Corporation announced that they will report Q1, 2025 final results on Jul 30, 2024 Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: JP¥53.99 (vs JP¥38.40 in FY 2023) Full year 2024 results: EPS: JP¥53.99 (up from JP¥38.40 in FY 2023). Revenue: JP¥22.1b (up 4.9% from FY 2023). Net income: JP¥936.0m (up 37% from FY 2023). Profit margin: 4.2% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥53.99 (vs JP¥38.40 in FY 2023) Full year 2024 results: EPS: JP¥53.99 (up from JP¥38.40 in FY 2023). Revenue: JP¥22.1b (up 4.9% from FY 2023). Net income: JP¥936.0m (up 37% from FY 2023). Profit margin: 4.2% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annonce • May 15
AGS Corporation, Annual General Meeting, Jun 20, 2024 AGS Corporation, Annual General Meeting, Jun 20, 2024. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,130, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 46% over the past three years. New Risk • Apr 12
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥1,067, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 34% over the past three years. New Risk • Mar 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.9b (US$98.3m) 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.4%). Annonce • Mar 13
AGS Corporation to Report Fiscal Year 2024 Results on May 13, 2024 AGS Corporation announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥22.00 (vs JP¥6.25 in 3Q 2023) Third quarter 2024 results: EPS: JP¥22.00 (up from JP¥6.25 in 3Q 2023). Revenue: JP¥5.68b (up 13% from 3Q 2023). Net income: JP¥379.0m (up 241% from 3Q 2023). Profit margin: 6.7% (up from 2.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥960, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 22% over the past three years. Annonce • Dec 10
AGS Corporation to Report Q3, 2024 Results on Jan 30, 2024 AGS Corporation announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥16.44 (vs JP¥8.04 in 2Q 2023) Second quarter 2024 results: EPS: JP¥16.44 (up from JP¥8.04 in 2Q 2023). Revenue: JP¥5.73b (up 16% from 2Q 2023). Net income: JP¥288.0m (up 101% from 2Q 2023). Profit margin: 5.0% (up from 2.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.50 per share at 1.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (1.5%). Annonce • Sep 10
AGS Corporation to Report Q2, 2024 Results on Oct 30, 2023 AGS Corporation announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥10.23 (vs JP¥6.30 in 1Q 2023) First quarter 2024 results: EPS: JP¥10.23 (up from JP¥6.30 in 1Q 2023). Revenue: JP¥4.84b (down 5.0% from 1Q 2023). Net income: JP¥180.0m (up 61% from 1Q 2023). Profit margin: 3.7% (up from 2.2% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Jun 28
AGS Corporation to Report Q1, 2024 Results on Jul 28, 2023 AGS Corporation announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Jun 28
Full year 2023 earnings released: EPS: JP¥38.40 (vs JP¥35.88 in FY 2022) Full year 2023 results: EPS: JP¥38.40 (up from JP¥35.88 in FY 2022). Revenue: JP¥21.1b (flat on FY 2022). Net income: JP¥682.0m (up 6.9% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥38.40 (vs JP¥35.88 in FY 2022) Full year 2023 results: EPS: JP¥38.40 (up from JP¥35.88 in FY 2022). Revenue: JP¥21.1b (flat on FY 2022). Net income: JP¥682.0m (up 6.9% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • May 13
AGS Corporation, Annual General Meeting, Jun 22, 2023 AGS Corporation, Annual General Meeting, Jun 22, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.50 per share at 1.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.7%). Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥6.25 (vs JP¥7.70 in 3Q 2022) Third quarter 2023 results: EPS: JP¥6.25 (down from JP¥7.70 in 3Q 2022). Revenue: JP¥5.05b (down 3.8% from 3Q 2022). Net income: JP¥111.0m (down 19% from 3Q 2022). Profit margin: 2.2% (down from 2.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annonce • Dec 10
AGS Corporation to Report Q3, 2023 Results on Jan 30, 2023 AGS Corporation announced that they will report Q3, 2023 results on Jan 30, 2023 Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Mito Shimonaka was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥8.04 (vs JP¥13.38 in 2Q 2022) Second quarter 2023 results: EPS: JP¥8.04 (down from JP¥13.38 in 2Q 2022). Revenue: JP¥4.93b (down 5.1% from 2Q 2022). Net income: JP¥143.0m (down 40% from 2Q 2022). Profit margin: 2.9% (down from 4.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.7%). Annonce • Sep 10
AGS Corporation to Report Q2, 2023 Results on Oct 28, 2022 AGS Corporation announced that they will report Q2, 2023 results on Oct 28, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥6.30 (vs JP¥12.71 in 1Q 2022) First quarter 2023 results: EPS: JP¥6.30 (down from JP¥12.71 in 1Q 2022). Revenue: JP¥5.09b (down 2.4% from 1Q 2022). Net income: JP¥112.0m (down 50% from 1Q 2022). Profit margin: 2.2% (down from 4.3% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Jul 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director & Executive Officer Koji Nozawa was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 26
Full year 2022 earnings released: EPS: JP¥35.88 (vs JP¥27.93 in FY 2021) Full year 2022 results: EPS: JP¥35.88 (up from JP¥27.93 in FY 2021). Revenue: JP¥21.2b (up 1.1% from FY 2021). Net income: JP¥638.0m (up 28% from FY 2021). Profit margin: 3.0% (up from 2.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥35.88 (vs JP¥27.93 in FY 2021) Full year 2022 results: EPS: JP¥35.88 (up from JP¥27.93 in FY 2021). Revenue: JP¥21.2b (up 1.1% from FY 2021). Net income: JP¥638.0m (up 28% from FY 2021). Profit margin: 3.0% (up from 2.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • May 15
AGS Corporation, Annual General Meeting, Jun 22, 2022 AGS Corporation, Annual General Meeting, Jun 22, 2022. Agenda: General meeting of shareholders. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 4 experienced directors. 1 highly experienced director. VP, Executive Officer, Head of Overall System Department & Director Hiroyuki Fujikura is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Apr 07
AGS Corporation to Report Fiscal Year 2022 Results on May 12, 2022 AGS Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (1.5%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥7.70 (up from JP¥2.14 in 3Q 2021). Revenue: JP¥5.25b (down 2.7% from 3Q 2021). Net income: JP¥137.0m (up 261% from 3Q 2021). Profit margin: 2.6% (up from 0.7% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥13.38 (vs JP¥9.72 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥5.20b (up 11% from 2Q 2021). Net income: JP¥238.0m (up 38% from 2Q 2021). Profit margin: 4.6% (up from 3.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.2%). Reported Earnings • Aug 04
First quarter 2022 earnings released: EPS JP¥12.71 (vs JP¥1.41 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥5.22b (up 17% from 1Q 2021). Net income: JP¥226.0m (up JP¥251.0m from 1Q 2021). Profit margin: 4.3% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Jun 24
Full year 2021 earnings released: EPS JP¥27.93 (vs JP¥26.67 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥20.9b (up 5.0% from FY 2020). Net income: JP¥497.0m (up 4.6% from FY 2020). Profit margin: 2.4% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥27.93 (vs JP¥26.67 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥20.9b (up 5.0% from FY 2020). Net income: JP¥497.0m (up 4.6% from FY 2020). Profit margin: 2.4% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 04 June 2021. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (1.3%). Annonce • Mar 12
AGS Corporation to Report Fiscal Year 2021 Results on May 13, 2021 AGS Corporation announced that they will report fiscal year 2021 results on May 13, 2021 Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥2.14 (vs JP¥9.38 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥5.40b (up 3.7% from 3Q 2020). Net income: JP¥38.0m (down 77% from 3Q 2020). Profit margin: 0.7% (down from 3.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annonce • Dec 17
AGS Corporation to Report Q3, 2021 Results on Jan 29, 2021 AGS Corporation announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Dec 07
New 90-day low: JP¥809 The company is down 5.0% from its price of JP¥850 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 9.0% over the same period. Annonce • Sep 12
AGS Corporation to Report Q2, 2021 Results on Oct 30, 2020 AGS Corporation announced that they will report Q2, 2021 results on Oct 30, 2020