View Past PerformanceBase バランスシートの健全性財務の健全性 基準チェック /66Baseの総株主資本は¥14.6B 、総負債は¥0.0で、負債比率は0%となります。総資産と総負債はそれぞれ¥16.7Bと¥2.1Bです。 Baseの EBIT は¥5.6Bで、利息カバレッジ比率-126.6です。現金および短期投資は¥11.1Bです。主要情報0%負債資本比率JP¥0負債インタレスト・カバレッジ・レシオ-126.6x現金JP¥11.05bエクイティJP¥14.57b負債合計JP¥2.13b総資産JP¥16.70b財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesReported Earnings • May 20First quarter 2026 earnings released: EPS: JP¥55.57 (vs JP¥59.70 in 1Q 2025)First quarter 2026 results: EPS: JP¥55.57 (down from JP¥59.70 in 1Q 2025). Revenue: JP¥5.47b (down 1.6% from 1Q 2025). Net income: JP¥1.01b (down 8.6% from 1Q 2025). Profit margin: 18% (down from 20% in 1Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Declared Dividend • Apr 11Final dividend of JP¥93.00 announcedShareholders will receive a dividend of JP¥93.00. Ex-date: 29th June 2026 Payment date: 7th September 2026 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 32% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 16Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2025 results: EPS: JP¥229 (up from JP¥207 in FY 2024). Revenue: JP¥21.8b (up 7.7% from FY 2024). Net income: JP¥4.22b (up 9.0% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the IT industry in Japan. 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 14% per year, which means it is significantly lagging earnings.お知らせ • Feb 14+ 2 more updatesBase Co., Ltd. Announces Cash Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 9, 2026; Provides Dividend Guidance for the Second Quarter and Full Year of Fiscal Year Ending December 31, 2026Base Co., Ltd. announced cash dividend for the fiscal year ended December 31, 2025 of JPY 60.00 per share compared to JPY 52.00 per share paid a year ago. Scheduled date to commence dividend payments is March 9, 2026. For the second quarter of fiscal year ending December 31, 2026, the company expects to pay dividend of JPY 63.00 per share. For the full year of fiscal year ending December 31, 2026, the company expects to pay dividend of JPY 63.00 per share as compared to JPY 60.00 per share paid a year ago.お知らせ • Feb 13Base Co., Ltd., Annual General Meeting, Mar 27, 2026Base Co., Ltd., Annual General Meeting, Mar 27, 2026.Buy Or Sell Opportunity • Jan 20Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.9% to JP¥3,295. The fair value is estimated to be JP¥4,139, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 10% in the next 2 years.Upcoming Dividend • Dec 22Upcoming dividend of JP¥60.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 10 March 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%).お知らせ • Dec 05+ 3 more updatesBase Co., Ltd. to Report Q1, 2026 Results on May 15, 2026Base Co., Ltd. announced that they will report Q1, 2026 results on May 15, 2026Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: JP¥56.53 (vs JP¥51.54 in 3Q 2024)Third quarter 2025 results: EPS: JP¥56.53 (up from JP¥51.54 in 3Q 2024). Revenue: JP¥5.46b (up 7.7% from 3Q 2024). Net income: JP¥1.04b (up 8.1% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Revenue is forecast to grow 12% 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 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.分析記事 • Oct 08Base (TSE:4481) Has Announced That It Will Be Increasing Its Dividend To ¥60.00Base Co., Ltd.'s ( TSE:4481 ) dividend will be increasing from last year's payment of the same period to ¥60.00 on 10th...分析記事 • Sep 24Base (TSE:4481) Is Increasing Its Dividend To ¥60.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will be paying its dividend of ¥60.00 on the 10th of...分析記事 • Sep 07Base (TSE:4481) Is Paying Out A Larger Dividend Than Last YearBase Co., Ltd. ( TSE:4481 ) will increase its dividend from last year's comparable payment on the 10th of March to...Declared Dividend • Sep 06First half dividend of JP¥60.00 announcedShareholders will receive a dividend of JP¥60.00. Ex-date: 29th December 2025 Payment date: 10th March 2026 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 31% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: JP¥50.83 (vs JP¥41.17 in 2Q 2024)Second quarter 2025 results: EPS: JP¥50.83 (up from JP¥41.17 in 2Q 2024). Revenue: JP¥5.45b (up 12% from 2Q 2024). Net income: JP¥939.2m (up 22% from 2Q 2024). Profit margin: 17% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% 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 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.分析記事 • Jun 19Base (TSE:4481) Will Pay A Larger Dividend Than Last Year At ¥57.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will be paying its dividend of ¥57.00 on the 8th of...分析記事 • May 22Base (TSE:4481) Has Announced That It Will Be Increasing Its Dividend To ¥57.00Base Co., Ltd. ( TSE:4481 ) has announced that it will be increasing its dividend from last year's comparable payment...Reported Earnings • May 20First quarter 2025 earnings released: EPS: JP¥59.66 (vs JP¥47.04 in 1Q 2024)First quarter 2025 results: EPS: JP¥59.66 (up from JP¥47.04 in 1Q 2024). Revenue: JP¥5.56b (up 16% from 1Q 2024). Net income: JP¥1.10b (up 25% from 1Q 2024). Profit margin: 20% (up from 18% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Japan. 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 4% per year, which means it is significantly lagging earnings growth.分析記事 • Apr 11Base (TSE:4481) Will Pay A Larger Dividend Than Last Year At ¥57.00Base Co., Ltd. ( TSE:4481 ) will increase its dividend from last year's comparable payment on the 8th of September to...Declared Dividend • Apr 11Final dividend of JP¥57.00 announcedShareholders will receive a dividend of JP¥57.00. Ex-date: 27th June 2025 Payment date: 8th September 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 38% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to JP¥2,505, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the IT industry in Japan. Total loss to shareholders of 14% over the past three years.Reported Earnings • Apr 05Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥207 (up from JP¥188 in FY 2023). Revenue: JP¥20.2b (up 8.1% from FY 2023). Net income: JP¥3.87b (up 13% from FY 2023). Profit margin: 19% (in line with FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.分析記事 • Apr 05Base Co., Ltd.'s (TSE:4481) Popularity With Investors Is ClearIt's not a stretch to say that Base Co., Ltd.'s ( TSE:4481 ) price-to-earnings (or "P/E") ratio of 13.1x right now...Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Outside Director Hideki Kiwaki was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.新しいナラティブ • Mar 30Goals for 2025 Profit attributable to owners of parent 11.5%How does Base make money?Base offers software implementation and generation services, they are specialized in SAP.Where does Base make money?In the 2024 financial year, practically all the business inReported Earnings • Feb 16Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥207 (up from JP¥188 in FY 2023). Revenue: JP¥20.2b (up 8.1% from FY 2023). Net income: JP¥3.87b (up 13% from FY 2023). Profit margin: 19% (in line with FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 12% 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 increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 14Base Co., Ltd., Annual General Meeting, Mar 28, 2025Base Co., Ltd., Annual General Meeting, Mar 28, 2025.New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.1% average weekly change).お知らせ • Jan 03+ 3 more updatesBase Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025Base Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025Upcoming Dividend • Dec 20Upcoming dividend of JP¥52.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 March 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%).Reported Earnings • Nov 21Third quarter 2024 earnings released: EPS: JP¥51.54 (vs JP¥45.24 in 3Q 2023)Third quarter 2024 results: EPS: JP¥51.54 (up from JP¥45.24 in 3Q 2023). Revenue: JP¥5.07b (up 9.6% from 3Q 2023). Net income: JP¥964.7m (up 16% from 3Q 2023). Profit margin: 19% (up from 18% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% 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 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.New Risk • Sep 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 8.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding).分析記事 • Sep 02Base Co., Ltd.'s (TSE:4481) 26% Share Price Surge Not Quite Adding UpBase Co., Ltd. ( TSE:4481 ) shares have had a really impressive month, gaining 26% after a shaky period beforehand...Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 24%After last week's 24% share price gain to JP¥3,150, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 49% over the past three years.Reported Earnings • Aug 20Second quarter 2024 earnings released: EPS: JP¥41.19 (vs JP¥37.83 in 2Q 2023)Second quarter 2024 results: EPS: JP¥41.19 (up from JP¥37.83 in 2Q 2023). Revenue: JP¥4.87b (up 9.2% from 2Q 2023). Net income: JP¥773.5m (up 12% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.Declared Dividend • Aug 16Dividend of JP¥52.00 announcedShareholders will receive a dividend of JP¥52.00. Ex-date: 27th December 2024 Payment date: 11th March 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 34% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Aug 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 8.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding).お知らせ • Aug 15Base Co., Ltd. Announces Dividend for the Second Quarter End of Fiscal Year Ending December 31, 2024, Payable on September 6, 2024Base Co., Ltd. announced that the company to pay a dividend of JPY 50.00 per share for the second quarter end of fiscal year ending December 31, 2024 as compared to JPY 40.00 per share paid a year ago. Scheduled date to commence dividend payments: September 6, 2024.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to JP¥2,269, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 6.3% over the past three years.分析記事 • Jun 14Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend of ¥50.00 per share on the 9th of...Major Estimate Revision • Jun 04Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥21.8b to JP¥20.2b. EPS estimate also fell from JP¥208 per share to JP¥187 per share. Net income forecast to grow 4.4% next year vs 14% growth forecast for IT industry in Japan. Consensus price target down from JP¥5,400 to JP¥4,300. Share price was steady at JP¥2,901 over the past week.分析記事 • May 31Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend on the 9th of September, with...Reported Earnings • May 20First quarter 2024 earnings released: EPS: JP¥47.04 (vs JP¥45.77 in 1Q 2023)First quarter 2024 results: EPS: JP¥47.04 (up from JP¥45.77 in 1Q 2023). Revenue: JP¥4.79b (up 1.9% from 1Q 2023). Net income: JP¥883.0m (up 6.1% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.お知らせ • May 17+ 1 more updateBase Co., Ltd. Provides Year-End Cash Dividend Guidance for the Fiscal Year Ending December 31, 2024Base Co., Ltd. expects to pay year-end cash dividend of JPY 52.00 per share for the fiscal year ending December 31, 2024 compared to JPY 52.00 per share a year ago.分析記事 • Apr 11Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend on the 9th of September, with...Declared Dividend • Apr 11Final dividend of JP¥50.00 announcedShareholders will receive a dividend of JP¥50.00. Ex-date: 27th June 2024 Payment date: 9th September 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 39% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 16Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: JP¥188 (up from JP¥151 in FY 2022). Revenue: JP¥18.7b (up 9.8% from FY 2022). Net income: JP¥3.43b (up 26% from FY 2022). Profit margin: 18% (up from 16% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is forecast to grow 15% p.a. on average during the next 2 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 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 15Base Co., Ltd., Annual General Meeting, Mar 28, 2024Base Co., Ltd., Annual General Meeting, Mar 28, 2024.New Risk • Dec 22New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (2.6% increase in shares outstanding).Upcoming Dividend • Dec 21Upcoming dividend of JP¥48.00 per share at 2.5% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 13 March 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%).Price Target Changed • Dec 20Price target decreased by 10.0% to JP¥5,400Down from JP¥6,000, the current price target is provided by 1 analyst. New target price is 54% above last closing price of JP¥3,505. Stock is up 2.8% over the past year. The company is forecast to post earnings per share of JP¥177 for next year compared to JP¥151 last year.お知らせ • Dec 05+ 3 more updatesBase Co., Ltd. to Report Q1, 2024 Results on May 15, 2024Base Co., Ltd. announced that they will report Q1, 2024 results on May 15, 2024Reported Earnings • Nov 18Third quarter 2023 earnings released: EPS: JP¥45.24 (vs JP¥41.44 in 3Q 2022)Third quarter 2023 results: EPS: JP¥45.24 (up from JP¥41.44 in 3Q 2022). Revenue: JP¥4.62b (up 2.9% from 3Q 2022). Net income: JP¥829.0m (up 10% from 3Q 2022). Profit margin: 18% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.お知らせ • Nov 17Base Co., Ltd. Provides Dividend Guidance for Fiscal Year Ending December 31, 2023Base Co., Ltd. provided dividend guidance for fiscal year ending December 31, 2023. For the period, company expects to pay JPY 48.00 per share as compared to previous period JPY 56.Valuation Update With 7 Day Price Move • Nov 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to JP¥3,670, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 30% over the past three years.Valuation Update With 7 Day Price Move • Aug 21Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to JP¥4,210, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 67% over the past three years.New Risk • Aug 16New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change).Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: JP¥37.83 (vs JP¥35.62 in 2Q 2022)Second quarter 2023 results: EPS: JP¥37.83 (up from JP¥35.62 in 2Q 2022). Revenue: JP¥4.47b (up 8.3% from 2Q 2022). Net income: JP¥689.0m (up 7.5% from 2Q 2022). Profit margin: 15% (in line with 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year.Upcoming Dividend • Jun 22Upcoming dividend of JP¥40.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.6%).お知らせ • May 17+ 2 more updatesBase Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending June 30, 2023 and Full Year Ending December 31, 2023Base Co., Ltd. provided consolidated earnings guidance for the Six months ending June 30, 2023 and full year ending December 31, 2023. For the period, the company expects net sales of JPY 9,434 million, operating profit of JPY 2,199 million, profit attributable to owners of parent JPY 1,505 million and basic earnings per share of JPY 82.81. For the year, the company expects net sales of JPY 19,640 million, operating profit of JPY 4,692 million, profit attributable to owners of parent JPY 3,213 million and basic earnings per share of JPY 176.79.Reported Earnings • Feb 19Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2022 results: EPS: JP¥151 (up from JP¥119 in FY 2021). Revenue: JP¥17.0b (up 28% from FY 2021). Net income: JP¥2.73b (up 28% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 2.2%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Feb 16+ 3 more updatesBASE CO., LTD., Annual General Meeting, Mar 30, 2023BASE CO., LTD., Annual General Meeting, Mar 30, 2023.お知らせ • Feb 15BASE CO., LTD. Provides Consolidated Financial Guidance for the Six Months Ending June 30, 2023 and Year Ending December 31, 2023BASE CO., LTD. provided consolidated financial guidance for the Six months ending June 30, 2023 and year ending December 31, 2023. For the six months, the company expects net sales to be JPY 9,434 million, operating profit to be JPY 2,199 million, profit attributable to owners of parent to be JPY 1,505 million and earnings per share to be JPY 82.81.For the year ending December 31, 2023, the company expects net sales to be JPY 19,640 million, operating profit to be JPY 4,692 million, profit attributable to owners of parent to be JPY 3,213 million and earnings per share to be JPY 176.79.Valuation Update With 7 Day Price Move • Jan 20Investor sentiment improved over the past weekAfter last week's 17% share price gain to JP¥4,225, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 210% over the past three years.お知らせ • Dec 29BASE CO., LTD. to Report Fiscal Year 2022 Results on Feb 14, 2023BASE CO., LTD. announced that they will report fiscal year 2022 results on Feb 14, 2023Upcoming Dividend • Dec 22Upcoming dividend of JP¥49.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 14 March 2023. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%).Reported Earnings • Nov 18Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: JP¥4.49b (up 35% from 3Q 2021). Net income: JP¥752.0m (up 48% from 3Q 2021). Profit margin: 17% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan.お知らせ • Nov 16+ 1 more updateBASE CO., LTD. Provides Consolidated Financial Guidance for the Year Ending December 31, 2022BASE CO., LTD. provided consolidated financial guidance for the year ending December 31, 2022. For the period, the company expects net sales to be JPY 15,000 million, operating profit to be JPY 3,602 million, profit attributable to owners of parent to be JPY 2,468 million and earnings per share to be JPY 137.47.Buying Opportunity • Nov 04Now 20% undervaluedOver the last 90 days, the stock is up 34%. The fair value is estimated to be JP¥5,137, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last year. Earnings per share has grown by 31%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to grow by 39% in the next 2 years.お知らせ • Aug 16+ 1 more updateBASE CO., LTD. Announces Dividend for the Six Months Ended June 30, 2022, Payable on September 9, 2022; Provides Year-End Dividend Guidance for the Fiscal Year Ending December 31, 2022BASE CO., LTD. announced dividend of JPY 40.00 per share for the six months ended June 30, 2022 against JPY 30.00 per share paid for the same period a year ago. Scheduled date to commence dividend payments is September 9, 2022.The company provided year-end dividend guidance for the fiscal year ending December 31, 2022. For the year, the company expects to pay year-end dividend of JPY 45.00 per share against JPY 40.00 per share paid for the same period a year ago.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: JP¥71.24 (vs JP¥56.64 in 2Q 2021)Second quarter 2022 results: EPS: JP¥71.24 (up from JP¥56.64 in 2Q 2021). Revenue: JP¥4.12b (up 29% from 2Q 2021). Net income: JP¥641.0m (up 27% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the IT industry in Japan.Upcoming Dividend • Jun 22Upcoming dividend of JP¥40.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 12 September 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%).Reported Earnings • May 16First quarter 2022 earnings released: EPS: JP¥71.17 (vs JP¥53.76 in 1Q 2021)First quarter 2022 results: EPS: JP¥71.17 (up from JP¥53.76 in 1Q 2021). Revenue: JP¥3.93b (up 27% from 1Q 2021). Net income: JP¥639.0m (up 33% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 9.6%, compared to a 8.2% growth forecast for the industry in Japan.お知らせ • May 14+ 1 more updateBase Co., Ltd. Announces Dividend Guidance for the Full Year Ending December 2022BASE CO., LTD. announced dividend guidance of JPY 45 per share for the year ending December 2022.お知らせ • Feb 27+ 1 more updateBASE CO., LTD. to Report Q1, 2022 Results on May 13, 2022BASE CO., LTD. announced that they will report Q1, 2022 results on May 13, 2022Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: JP¥237 (up from JP¥196 in FY 2020). Revenue: JP¥13.3b (up 7.2% from FY 2020). Net income: JP¥2.13b (up 22% from FY 2020). Profit margin: 16% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates.財務状況分析短期負債: 4481の 短期資産 ( ¥14.3B ) が 短期負債 ( ¥2.1B ) を超えています。長期負債: 4481の短期資産 ( ¥14.3B ) が 長期負債 ( ¥15.0M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: 4481は負債がありません。負債の削減: 4481負債比率が6.9%であった 5 年前と比べて負債がありません。債務返済能力: 4481には負債がないため、営業キャッシュフロー でカバーする必要はありません。インタレストカバレッジ: 4481には負債がないため、利息支払い の負担は問題になりません。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YSoftware 業界の健全な企業。View Dividend企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 12:42終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Base Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Teruo IsozakiIchiyoshi Research Institute Inc.Nobumasa MorimotoMizuho Securities Co., Ltd.
Reported Earnings • May 20First quarter 2026 earnings released: EPS: JP¥55.57 (vs JP¥59.70 in 1Q 2025)First quarter 2026 results: EPS: JP¥55.57 (down from JP¥59.70 in 1Q 2025). Revenue: JP¥5.47b (down 1.6% from 1Q 2025). Net income: JP¥1.01b (down 8.6% from 1Q 2025). Profit margin: 18% (down from 20% in 1Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Declared Dividend • Apr 11Final dividend of JP¥93.00 announcedShareholders will receive a dividend of JP¥93.00. Ex-date: 29th June 2026 Payment date: 7th September 2026 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 32% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 16Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2025 results: EPS: JP¥229 (up from JP¥207 in FY 2024). Revenue: JP¥21.8b (up 7.7% from FY 2024). Net income: JP¥4.22b (up 9.0% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the IT industry in Japan. 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 14% per year, which means it is significantly lagging earnings.
お知らせ • Feb 14+ 2 more updatesBase Co., Ltd. Announces Cash Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 9, 2026; Provides Dividend Guidance for the Second Quarter and Full Year of Fiscal Year Ending December 31, 2026Base Co., Ltd. announced cash dividend for the fiscal year ended December 31, 2025 of JPY 60.00 per share compared to JPY 52.00 per share paid a year ago. Scheduled date to commence dividend payments is March 9, 2026. For the second quarter of fiscal year ending December 31, 2026, the company expects to pay dividend of JPY 63.00 per share. For the full year of fiscal year ending December 31, 2026, the company expects to pay dividend of JPY 63.00 per share as compared to JPY 60.00 per share paid a year ago.
お知らせ • Feb 13Base Co., Ltd., Annual General Meeting, Mar 27, 2026Base Co., Ltd., Annual General Meeting, Mar 27, 2026.
Buy Or Sell Opportunity • Jan 20Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.9% to JP¥3,295. The fair value is estimated to be JP¥4,139, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 10% in the next 2 years.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥60.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 10 March 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%).
お知らせ • Dec 05+ 3 more updatesBase Co., Ltd. to Report Q1, 2026 Results on May 15, 2026Base Co., Ltd. announced that they will report Q1, 2026 results on May 15, 2026
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: JP¥56.53 (vs JP¥51.54 in 3Q 2024)Third quarter 2025 results: EPS: JP¥56.53 (up from JP¥51.54 in 3Q 2024). Revenue: JP¥5.46b (up 7.7% from 3Q 2024). Net income: JP¥1.04b (up 8.1% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Revenue is forecast to grow 12% 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 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
分析記事 • Oct 08Base (TSE:4481) Has Announced That It Will Be Increasing Its Dividend To ¥60.00Base Co., Ltd.'s ( TSE:4481 ) dividend will be increasing from last year's payment of the same period to ¥60.00 on 10th...
分析記事 • Sep 24Base (TSE:4481) Is Increasing Its Dividend To ¥60.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will be paying its dividend of ¥60.00 on the 10th of...
分析記事 • Sep 07Base (TSE:4481) Is Paying Out A Larger Dividend Than Last YearBase Co., Ltd. ( TSE:4481 ) will increase its dividend from last year's comparable payment on the 10th of March to...
Declared Dividend • Sep 06First half dividend of JP¥60.00 announcedShareholders will receive a dividend of JP¥60.00. Ex-date: 29th December 2025 Payment date: 10th March 2026 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 31% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: JP¥50.83 (vs JP¥41.17 in 2Q 2024)Second quarter 2025 results: EPS: JP¥50.83 (up from JP¥41.17 in 2Q 2024). Revenue: JP¥5.45b (up 12% from 2Q 2024). Net income: JP¥939.2m (up 22% from 2Q 2024). Profit margin: 17% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% 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 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
分析記事 • Jun 19Base (TSE:4481) Will Pay A Larger Dividend Than Last Year At ¥57.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will be paying its dividend of ¥57.00 on the 8th of...
分析記事 • May 22Base (TSE:4481) Has Announced That It Will Be Increasing Its Dividend To ¥57.00Base Co., Ltd. ( TSE:4481 ) has announced that it will be increasing its dividend from last year's comparable payment...
Reported Earnings • May 20First quarter 2025 earnings released: EPS: JP¥59.66 (vs JP¥47.04 in 1Q 2024)First quarter 2025 results: EPS: JP¥59.66 (up from JP¥47.04 in 1Q 2024). Revenue: JP¥5.56b (up 16% from 1Q 2024). Net income: JP¥1.10b (up 25% from 1Q 2024). Profit margin: 20% (up from 18% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Japan. 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 4% per year, which means it is significantly lagging earnings growth.
分析記事 • Apr 11Base (TSE:4481) Will Pay A Larger Dividend Than Last Year At ¥57.00Base Co., Ltd. ( TSE:4481 ) will increase its dividend from last year's comparable payment on the 8th of September to...
Declared Dividend • Apr 11Final dividend of JP¥57.00 announcedShareholders will receive a dividend of JP¥57.00. Ex-date: 27th June 2025 Payment date: 8th September 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 38% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to JP¥2,505, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the IT industry in Japan. Total loss to shareholders of 14% over the past three years.
Reported Earnings • Apr 05Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥207 (up from JP¥188 in FY 2023). Revenue: JP¥20.2b (up 8.1% from FY 2023). Net income: JP¥3.87b (up 13% from FY 2023). Profit margin: 19% (in line with FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
分析記事 • Apr 05Base Co., Ltd.'s (TSE:4481) Popularity With Investors Is ClearIt's not a stretch to say that Base Co., Ltd.'s ( TSE:4481 ) price-to-earnings (or "P/E") ratio of 13.1x right now...
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Outside Director Hideki Kiwaki was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
新しいナラティブ • Mar 30Goals for 2025 Profit attributable to owners of parent 11.5%How does Base make money?Base offers software implementation and generation services, they are specialized in SAP.Where does Base make money?In the 2024 financial year, practically all the business in
Reported Earnings • Feb 16Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥207 (up from JP¥188 in FY 2023). Revenue: JP¥20.2b (up 8.1% from FY 2023). Net income: JP¥3.87b (up 13% from FY 2023). Profit margin: 19% (in line with FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 12% 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 increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 14Base Co., Ltd., Annual General Meeting, Mar 28, 2025Base Co., Ltd., Annual General Meeting, Mar 28, 2025.
New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.1% average weekly change).
お知らせ • Jan 03+ 3 more updatesBase Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025Base Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025
Upcoming Dividend • Dec 20Upcoming dividend of JP¥52.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 March 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%).
Reported Earnings • Nov 21Third quarter 2024 earnings released: EPS: JP¥51.54 (vs JP¥45.24 in 3Q 2023)Third quarter 2024 results: EPS: JP¥51.54 (up from JP¥45.24 in 3Q 2023). Revenue: JP¥5.07b (up 9.6% from 3Q 2023). Net income: JP¥964.7m (up 16% from 3Q 2023). Profit margin: 19% (up from 18% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% 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 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
New Risk • Sep 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 8.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
分析記事 • Sep 02Base Co., Ltd.'s (TSE:4481) 26% Share Price Surge Not Quite Adding UpBase Co., Ltd. ( TSE:4481 ) shares have had a really impressive month, gaining 26% after a shaky period beforehand...
Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 24%After last week's 24% share price gain to JP¥3,150, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 49% over the past three years.
Reported Earnings • Aug 20Second quarter 2024 earnings released: EPS: JP¥41.19 (vs JP¥37.83 in 2Q 2023)Second quarter 2024 results: EPS: JP¥41.19 (up from JP¥37.83 in 2Q 2023). Revenue: JP¥4.87b (up 9.2% from 2Q 2023). Net income: JP¥773.5m (up 12% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Aug 16Dividend of JP¥52.00 announcedShareholders will receive a dividend of JP¥52.00. Ex-date: 27th December 2024 Payment date: 11th March 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 34% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Aug 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 8.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding).
お知らせ • Aug 15Base Co., Ltd. Announces Dividend for the Second Quarter End of Fiscal Year Ending December 31, 2024, Payable on September 6, 2024Base Co., Ltd. announced that the company to pay a dividend of JPY 50.00 per share for the second quarter end of fiscal year ending December 31, 2024 as compared to JPY 40.00 per share paid a year ago. Scheduled date to commence dividend payments: September 6, 2024.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to JP¥2,269, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 6.3% over the past three years.
分析記事 • Jun 14Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend of ¥50.00 per share on the 9th of...
Major Estimate Revision • Jun 04Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥21.8b to JP¥20.2b. EPS estimate also fell from JP¥208 per share to JP¥187 per share. Net income forecast to grow 4.4% next year vs 14% growth forecast for IT industry in Japan. Consensus price target down from JP¥5,400 to JP¥4,300. Share price was steady at JP¥2,901 over the past week.
分析記事 • May 31Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend on the 9th of September, with...
Reported Earnings • May 20First quarter 2024 earnings released: EPS: JP¥47.04 (vs JP¥45.77 in 1Q 2023)First quarter 2024 results: EPS: JP¥47.04 (up from JP¥45.77 in 1Q 2023). Revenue: JP¥4.79b (up 1.9% from 1Q 2023). Net income: JP¥883.0m (up 6.1% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
お知らせ • May 17+ 1 more updateBase Co., Ltd. Provides Year-End Cash Dividend Guidance for the Fiscal Year Ending December 31, 2024Base Co., Ltd. expects to pay year-end cash dividend of JPY 52.00 per share for the fiscal year ending December 31, 2024 compared to JPY 52.00 per share a year ago.
分析記事 • Apr 11Base (TSE:4481) Will Pay A Dividend Of ¥50.00The board of Base Co., Ltd. ( TSE:4481 ) has announced that it will pay a dividend on the 9th of September, with...
Declared Dividend • Apr 11Final dividend of JP¥50.00 announcedShareholders will receive a dividend of JP¥50.00. Ex-date: 27th June 2024 Payment date: 9th September 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 39% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 16Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: JP¥188 (up from JP¥151 in FY 2022). Revenue: JP¥18.7b (up 9.8% from FY 2022). Net income: JP¥3.43b (up 26% from FY 2022). Profit margin: 18% (up from 16% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.9%. Revenue is forecast to grow 15% p.a. on average during the next 2 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 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 15Base Co., Ltd., Annual General Meeting, Mar 28, 2024Base Co., Ltd., Annual General Meeting, Mar 28, 2024.
New Risk • Dec 22New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (2.6% increase in shares outstanding).
Upcoming Dividend • Dec 21Upcoming dividend of JP¥48.00 per share at 2.5% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 13 March 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%).
Price Target Changed • Dec 20Price target decreased by 10.0% to JP¥5,400Down from JP¥6,000, the current price target is provided by 1 analyst. New target price is 54% above last closing price of JP¥3,505. Stock is up 2.8% over the past year. The company is forecast to post earnings per share of JP¥177 for next year compared to JP¥151 last year.
お知らせ • Dec 05+ 3 more updatesBase Co., Ltd. to Report Q1, 2024 Results on May 15, 2024Base Co., Ltd. announced that they will report Q1, 2024 results on May 15, 2024
Reported Earnings • Nov 18Third quarter 2023 earnings released: EPS: JP¥45.24 (vs JP¥41.44 in 3Q 2022)Third quarter 2023 results: EPS: JP¥45.24 (up from JP¥41.44 in 3Q 2022). Revenue: JP¥4.62b (up 2.9% from 3Q 2022). Net income: JP¥829.0m (up 10% from 3Q 2022). Profit margin: 18% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
お知らせ • Nov 17Base Co., Ltd. Provides Dividend Guidance for Fiscal Year Ending December 31, 2023Base Co., Ltd. provided dividend guidance for fiscal year ending December 31, 2023. For the period, company expects to pay JPY 48.00 per share as compared to previous period JPY 56.
Valuation Update With 7 Day Price Move • Nov 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to JP¥3,670, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 30% over the past three years.
Valuation Update With 7 Day Price Move • Aug 21Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to JP¥4,210, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 67% over the past three years.
New Risk • Aug 16New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change).
Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: JP¥37.83 (vs JP¥35.62 in 2Q 2022)Second quarter 2023 results: EPS: JP¥37.83 (up from JP¥35.62 in 2Q 2022). Revenue: JP¥4.47b (up 8.3% from 2Q 2022). Net income: JP¥689.0m (up 7.5% from 2Q 2022). Profit margin: 15% (in line with 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year.
Upcoming Dividend • Jun 22Upcoming dividend of JP¥40.00 per share at 1.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.6%).
お知らせ • May 17+ 2 more updatesBase Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending June 30, 2023 and Full Year Ending December 31, 2023Base Co., Ltd. provided consolidated earnings guidance for the Six months ending June 30, 2023 and full year ending December 31, 2023. For the period, the company expects net sales of JPY 9,434 million, operating profit of JPY 2,199 million, profit attributable to owners of parent JPY 1,505 million and basic earnings per share of JPY 82.81. For the year, the company expects net sales of JPY 19,640 million, operating profit of JPY 4,692 million, profit attributable to owners of parent JPY 3,213 million and basic earnings per share of JPY 176.79.
Reported Earnings • Feb 19Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2022 results: EPS: JP¥151 (up from JP¥119 in FY 2021). Revenue: JP¥17.0b (up 28% from FY 2021). Net income: JP¥2.73b (up 28% from FY 2021). Profit margin: 16% (in line with FY 2021). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 2.2%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Feb 16+ 3 more updatesBASE CO., LTD., Annual General Meeting, Mar 30, 2023BASE CO., LTD., Annual General Meeting, Mar 30, 2023.
お知らせ • Feb 15BASE CO., LTD. Provides Consolidated Financial Guidance for the Six Months Ending June 30, 2023 and Year Ending December 31, 2023BASE CO., LTD. provided consolidated financial guidance for the Six months ending June 30, 2023 and year ending December 31, 2023. For the six months, the company expects net sales to be JPY 9,434 million, operating profit to be JPY 2,199 million, profit attributable to owners of parent to be JPY 1,505 million and earnings per share to be JPY 82.81.For the year ending December 31, 2023, the company expects net sales to be JPY 19,640 million, operating profit to be JPY 4,692 million, profit attributable to owners of parent to be JPY 3,213 million and earnings per share to be JPY 176.79.
Valuation Update With 7 Day Price Move • Jan 20Investor sentiment improved over the past weekAfter last week's 17% share price gain to JP¥4,225, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 210% over the past three years.
お知らせ • Dec 29BASE CO., LTD. to Report Fiscal Year 2022 Results on Feb 14, 2023BASE CO., LTD. announced that they will report fiscal year 2022 results on Feb 14, 2023
Upcoming Dividend • Dec 22Upcoming dividend of JP¥49.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 14 March 2023. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%).
Reported Earnings • Nov 18Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: JP¥4.49b (up 35% from 3Q 2021). Net income: JP¥752.0m (up 48% from 3Q 2021). Profit margin: 17% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan.
お知らせ • Nov 16+ 1 more updateBASE CO., LTD. Provides Consolidated Financial Guidance for the Year Ending December 31, 2022BASE CO., LTD. provided consolidated financial guidance for the year ending December 31, 2022. For the period, the company expects net sales to be JPY 15,000 million, operating profit to be JPY 3,602 million, profit attributable to owners of parent to be JPY 2,468 million and earnings per share to be JPY 137.47.
Buying Opportunity • Nov 04Now 20% undervaluedOver the last 90 days, the stock is up 34%. The fair value is estimated to be JP¥5,137, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last year. Earnings per share has grown by 31%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to grow by 39% in the next 2 years.
お知らせ • Aug 16+ 1 more updateBASE CO., LTD. Announces Dividend for the Six Months Ended June 30, 2022, Payable on September 9, 2022; Provides Year-End Dividend Guidance for the Fiscal Year Ending December 31, 2022BASE CO., LTD. announced dividend of JPY 40.00 per share for the six months ended June 30, 2022 against JPY 30.00 per share paid for the same period a year ago. Scheduled date to commence dividend payments is September 9, 2022.The company provided year-end dividend guidance for the fiscal year ending December 31, 2022. For the year, the company expects to pay year-end dividend of JPY 45.00 per share against JPY 40.00 per share paid for the same period a year ago.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: JP¥71.24 (vs JP¥56.64 in 2Q 2021)Second quarter 2022 results: EPS: JP¥71.24 (up from JP¥56.64 in 2Q 2021). Revenue: JP¥4.12b (up 29% from 2Q 2021). Net income: JP¥641.0m (up 27% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the IT industry in Japan.
Upcoming Dividend • Jun 22Upcoming dividend of JP¥40.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 12 September 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%).
Reported Earnings • May 16First quarter 2022 earnings released: EPS: JP¥71.17 (vs JP¥53.76 in 1Q 2021)First quarter 2022 results: EPS: JP¥71.17 (up from JP¥53.76 in 1Q 2021). Revenue: JP¥3.93b (up 27% from 1Q 2021). Net income: JP¥639.0m (up 33% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 9.6%, compared to a 8.2% growth forecast for the industry in Japan.
お知らせ • May 14+ 1 more updateBase Co., Ltd. Announces Dividend Guidance for the Full Year Ending December 2022BASE CO., LTD. announced dividend guidance of JPY 45 per share for the year ending December 2022.
お知らせ • Feb 27+ 1 more updateBASE CO., LTD. to Report Q1, 2022 Results on May 13, 2022BASE CO., LTD. announced that they will report Q1, 2022 results on May 13, 2022
Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: JP¥237 (up from JP¥196 in FY 2020). Revenue: JP¥13.3b (up 7.2% from FY 2020). Net income: JP¥2.13b (up 22% from FY 2020). Profit margin: 16% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates.