View Past PerformanceThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsV-cube バランスシートの健全性財務の健全性 基準チェック /26V-cubeの総株主資本は¥-1.1B 、総負債は¥6.6Bで、負債比率は-598.7%となります。総資産と総負債はそれぞれ¥8.7Bと¥9.8Bです。主要情報-598.74%負債資本比率JP¥6.63b負債インタレスト・カバレッジ・レシオn/a現金JP¥2.00bエクイティ-JP¥1.11b負債合計JP¥9.84b総資産JP¥8.73b財務の健全性に関する最新情報分析記事 • Feb 12Health Check: How Prudently Does V-cube (TSE:3681) Use Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...分析記事 • Oct 31Is V-cube (TSE:3681) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...すべての更新を表示Recent updatesお知らせ • May 19V-cube, Inc. announced that it expects to receive ¥1.799000059 billion in fundingV-cube, Inc. has announced that it has entered into a final agreement as of today regarding the issuance of the Company’s Class V preferred shares through a third-party allotment to AVA3 HD Co., Ltd. of 25,33,80,290 at an issue price of ¥ 7.1 per share for gross proceeds of ¥1,799,000,059 on May 17, 2026. The preferred shares are converted into common shares. Extraordinary General Meeting of Shareholders around mid-June 2026.Reported Earnings • May 06Full year 2025 earnings released: JP¥143 loss per share (vs JP¥55.72 loss in FY 2024)Full year 2025 results: JP¥143 loss per share (further deteriorated from JP¥55.72 loss in FY 2024). Revenue: JP¥9.86b (down 5.8% from FY 2024). Net loss: JP¥3.70b (loss widened 161% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings.お知らせ • Apr 04V-cube, Inc. to Report Fiscal Year 2025 Results on Mar 31, 2026V-cube, Inc. announced that they will report fiscal year 2025 results on Mar 31, 2026Reported Earnings • Apr 03Full year 2025 earnings released: JP¥123 loss per share (vs JP¥55.72 loss in FY 2024)Full year 2025 results: JP¥123 loss per share (further deteriorated from JP¥55.72 loss in FY 2024). Revenue: JP¥9.86b (down 5.8% from FY 2024). Net loss: JP¥3.17b (loss widened 124% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings.New Risk • Apr 02New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: JP¥1.29b (US$8.10m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (JP¥1.29b market cap, or US$8.10m).お知らせ • Apr 01V-cube, Inc., Annual General Meeting, Mar 31, 2026V-cube, Inc., Annual General Meeting, Mar 31, 2026.分析記事 • Jan 17V-cube, Inc.'s (TSE:3681) Price Is Right But Growth Is Lacking After Shares Rocket 39%V-cube, Inc. ( TSE:3681 ) shares have had a really impressive month, gaining 39% after a shaky period beforehand. Not...New Risk • Jan 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.8b free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 59% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥3.99b market cap, or US$25.3m).分析記事 • Dec 03V-cube, Inc.'s (TSE:3681) Low P/S No Reason For ExcitementV-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.3x may look like a pretty appealing investment...お知らせ • Dec 03V-cube, Inc. to Report Fiscal Year 2025 Results on Feb 13, 2026V-cube, Inc. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Feb 13, 2026Reported Earnings • Nov 19Third quarter 2025 earnings released: JP¥13.80 loss per share (vs JP¥18.22 loss in 3Q 2024)Third quarter 2025 results: JP¥13.80 loss per share (improved from JP¥18.22 loss in 3Q 2024). Revenue: JP¥2.21b (up 1.0% from 3Q 2024). Net loss: JP¥357.0m (loss narrowed 24% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.New Risk • Aug 28New 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 5.3% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.8b free cash flow). Earnings have declined by 63% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥4.32b market cap, or US$29.4m).お知らせ • Aug 22V-cube, Inc. to Report Q3, 2025 Results on Nov 14, 2025V-cube, Inc. announced that they will report Q3, 2025 results on Nov 14, 2025Reported Earnings • Aug 16Second quarter 2025 earnings released: JP¥15.99 loss per share (vs JP¥10.92 loss in 2Q 2024)Second quarter 2025 results: JP¥15.99 loss per share (further deteriorated from JP¥10.92 loss in 2Q 2024). Revenue: JP¥2.57b (down 8.7% from 2Q 2024). Net loss: JP¥421.0m (loss widened 51% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 51% per year, which means it has not declined as severely as earnings.New Risk • Jul 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥458m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥458m free cash flow). Earnings have declined by 66% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥4.19b market cap, or US$28.2m).Reported Earnings • May 23First quarter 2025 earnings released: JP¥8.38 loss per share (vs JP¥2.75 profit in 1Q 2024)First quarter 2025 results: JP¥8.38 loss per share (down from JP¥2.75 profit in 1Q 2024). Revenue: JP¥2.45b (down 13% from 1Q 2024). Net loss: JP¥213.0m (down 418% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance.お知らせ • May 22V-cube, Inc. to Report Q2, 2025 Results on Aug 14, 2025V-cube, Inc. announced that they will report Q2, 2025 results on Aug 14, 2025分析記事 • Apr 07Investors Don't See Light At End Of V-cube, Inc.'s (TSE:3681) Tunnel And Push Stock Down 28%V-cube, Inc. ( TSE:3681 ) shareholders that were waiting for something to happen have been dealt a blow with a 28...Reported Earnings • Apr 05Full year 2024 earnings released: JP¥55.72 loss per share (vs JP¥232 loss in FY 2023)Full year 2024 results: JP¥55.72 loss per share (improved from JP¥232 loss in FY 2023). Revenue: JP¥10.5b (down 5.6% from FY 2023). Net loss: JP¥1.42b (loss narrowed 75% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.お知らせ • Mar 07V-cube, Inc. to Report Q1, 2025 Results on May 15, 2025V-cube, Inc. announced that they will report Q1, 2025 results on May 15, 2025お知らせ • Mar 01V-Cube, Inc. Announces Board and Committee ChangesV-cube, Inc. board announced appointment of Directors as approved by Audit & Supervisory Committee Members as approved at Audit & Supervisory Committee. Candidates for Directors who are Audit & Supervisory Committee Members: Tsuyoshi Nakamaru appointed as Director Full-time Audit Committee Member; Hidehito Akimoto- Outside Director Audit & Supervisory Committee Member; Keiko Komatsu- Outside Director Audit & Supervisory Committee Member. Executive Scheduled to Retire include: Yosuke Kamezaki, Director CTO. Kikuo Fukushima, Outside Director Audit & Supervisory Committee Member. Career Summary of New Candidate: Tsuyoshi Nakamaru; Born on January 30, 1960; April 1984: Joined IBM Japan Ltd. June 2014: Joined V-cube, Inc. July 2018: General Manager, Business Promotion Office of the Company July 2024: Transferred to the Company's Technology Division (current position) Mr. Yosuke Kamezaki and Mr. Kikuo Fukushima are scheduled to retire upon the conclusion of the 25th Annual General Meeting of Shareholders, which is scheduled to be held on March 28, 2025, due to the expiration of their terms.New Risk • Feb 25New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥4.90b market cap, or US$32.7m).Reported Earnings • Feb 23Full year 2024 earnings released: JP¥55.72 loss per share (vs JP¥232 loss in FY 2023)Full year 2024 results: JP¥55.72 loss per share (improved from JP¥232 loss in FY 2023). Revenue: JP¥10.5b (down 5.6% from FY 2023). Net loss: JP¥1.42b (loss narrowed 75% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance.お知らせ • Feb 21V-cube, Inc., Annual General Meeting, Mar 28, 2025V-cube, Inc., Annual General Meeting, Mar 28, 2025.分析記事 • Feb 20V-cube, Inc.'s (TSE:3681) 26% Share Price Surge Not Quite Adding UpV-cube, Inc. ( TSE:3681 ) shareholders would be excited to see that the share price has had a great month, posting a...Board Change • Feb 15Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Keiko Komatsu was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.分析記事 • Feb 12Health Check: How Prudently Does V-cube (TSE:3681) Use Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...お知らせ • Dec 20V-cube, Inc. to Report Fiscal Year 2024 Results on Feb 14, 2025V-cube, Inc. announced that they will report fiscal year 2024 results on Feb 14, 2025Reported Earnings • Nov 19Third quarter 2024 earnings released: JP¥18.24 loss per share (vs JP¥19.74 loss in 3Q 2023)Third quarter 2024 results: JP¥18.24 loss per share (improved from JP¥19.74 loss in 3Q 2023). Revenue: JP¥2.18b (down 7.5% from 3Q 2023). Net loss: JP¥472.0m (loss narrowed 1.5% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance.お知らせ • Nov 15V-Cube, Inc. Announces the Resignation of David Kovalcik as Director, Effective on December 23, 2024V-cube, Inc. announced the Resignation of David Kovalcik as Director. The resignation will take effect on December 23, 2024, at the Extraordinary General Meeting of Shareholders. Mr. David Kovalcik, who has been involved in global expansion and group management as a director of the Company in his role as CEO of the Company's U.S. subsidiary TEN Events, Inc., was appointed as Chairperson from his previous position as CEO in March 2023. In light of the listing procedures for TEN Holdings, Inc., the parent company of TEN Events, progressing in the United States, Mr. Kovalcik has decided to resign from his position as a director of the Company to formally transfer the leadership role to Mr. Randolph Jones, the current CEO of both companies, marking the listing as a key milestone in this transition.分析記事 • Oct 31Is V-cube (TSE:3681) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...お知らせ • Sep 26V-cube, Inc. to Report Q3, 2024 Results on Nov 13, 2024V-cube, Inc. announced that they will report Q3, 2024 results on Nov 13, 2024New Risk • Aug 28New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.0b free cash flow). Earnings have declined by 68% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Market cap is less than US$100m (JP¥6.62b market cap, or US$45.9m).Reported Earnings • Aug 18Second quarter 2024 earnings released: JP¥4.26 loss per share (vs JP¥1.11 loss in 2Q 2023)Second quarter 2024 results: JP¥4.26 loss per share (further deteriorated from JP¥1.11 loss in 2Q 2023). Revenue: JP¥2.81b (up 2.5% from 2Q 2023). Net loss: JP¥106.4m (loss widened 294% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.New Risk • Aug 02New 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 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 60% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Market cap is less than US$100m (JP¥5.95b market cap, or US$40.0m).分析記事 • Jul 29Getting In Cheap On V-cube, Inc. (TSE:3681) Might Be DifficultThere wouldn't be many who think V-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.7x is worth a mention...お知らせ • Jun 02V-cube, Inc. to Report Q2, 2024 Results on Aug 14, 2024V-cube, Inc. announced that they will report Q2, 2024 results on Aug 14, 2024Reported Earnings • May 20First quarter 2024 earnings released: EPS: JP¥2.75 (vs JP¥1.28 in 1Q 2023)First quarter 2024 results: EPS: JP¥2.75 (up from JP¥1.28 in 1Q 2023). Revenue: JP¥2.81b (down 6.7% from 1Q 2023). Net income: JP¥67.0m (up 116% from 1Q 2023). Profit margin: 2.4% (up from 1.0% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance.お知らせ • May 16V-cube, Inc. Provides Consolidated Earnings Guidance for the Six Months Ending June 30, 2024 and Fiscal Year Ending December 31, 2024V-cube, Inc. provided consolidated earnings guidance for the six months ending June 30, 2024 and fiscal year ending December 31, 2024. For the six months, the company expects net sales to be JPY 5,600 million, operating profit to be JPY 320 million, ordinary profit to be JPY 280 million, profit attributable to owners of parent of JPY 200 million and basic earnings per share to be JPY 7.85. For the year, the company expects net sales to be JPY 11,500 million, operating profit to be JPY 500 million, ordinary profit to be JPY 400 million, profit attributable to owners of parent of JPY 300 million and basic earnings per share to be JPY 11.78.New Risk • Apr 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Market cap is less than US$100m (JP¥6.55b market cap, or US$42.7m).Board Change • Apr 02Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kikuo Fukushima was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Mar 24V-cube, Inc. to Report Q1, 2024 Results on May 15, 2024V-cube, Inc. announced that they will report Q1, 2024 results on May 15, 2024New Risk • Mar 22New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.9% 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: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Market cap is less than US$100m (JP¥6.90b market cap, or US$45.6m).分析記事 • Mar 12Cautious Investors Not Rewarding V-cube, Inc.'s (TSE:3681) Performance CompletelyThere wouldn't be many who think V-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.6x is worth a mention...お知らせ • Mar 06V-cube, Inc. announced that it expects to receive ¥347.472 million in fundingV-cube, Inc. announced a privae placement to issue 1,200,000 common shares at an issue price of ¥280.8 per share for the gross proceeds of ¥336,960,000 and 48,000 19th stock acquisition rights at an issue price of ¥219 per right for the gross proceeds of ¥10,512,000; aggregate gross proceeds of ¥347,472,000 on March 6, 2024. Th transaction will include participation from new investors LCAO for 960,000 shares and MAP246 for 240,000 shares and LCAO for 38,400 pieces and MAP246 for 9,600 pieces. The transaction has been approved by the shareholders of the company and is expected to close on March 22, 2024. The company has raised ¥1,994,832,000; issue expenses ¥47,847,680 and the net proceeds ¥1,946,984,320. The total amount of rights is ¥1,657,872,000; amount raised through rights is ¥10,512,000 and amount raised through exercise of stock acquisition rights is ¥1,647,360,000. The exercise price of right is ¥343.2.お知らせ • Feb 29V-cube, Inc. Announces Board RetirementsV-cube, Inc. announced that at the SBM held on February 27, 2024, the board has approved Mr. Norio Murakami and Ms. Naomi Koshi scheduled to retire as outside directors, due to the expiration of their terms of office after the 24th Ordinary General Meeting of Shareholders scheduled to be held on March 27, 2024.New Risk • Feb 19New 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 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (JP¥7.48b market cap, or US$49.8m).New Risk • Feb 17New major risk - Revenue and earnings growthEarnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥6.77b market cap, or US$45.1m).お知らせ • Feb 15V-cube, Inc., Annual General Meeting, Mar 27, 2024V-cube, Inc., Annual General Meeting, Mar 27, 2024.お知らせ • Dec 05V-cube, Inc. to Report Fiscal Year 2023 Results on Feb 14, 2024V-cube, Inc. announced that they will report fiscal year 2023 results on Feb 14, 2024Reported Earnings • Nov 18Third quarter 2023 earnings released: JP¥19.74 loss per share (vs JP¥5.56 loss in 3Q 2022)Third quarter 2023 results: JP¥19.74 loss per share (further deteriorated from JP¥5.56 loss in 3Q 2022). Revenue: JP¥2.36b (down 5.0% from 3Q 2022). Net loss: JP¥479.0m (loss widened 255% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 21 percentage points per year, which is a significant difference in performance.お知らせ • Sep 23V-cube, Inc. to Report Q3, 2023 Results on Nov 14, 2023V-cube, Inc. announced that they will report Q3, 2023 results on Nov 14, 2023New Risk • Aug 14New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (JP¥10.4b market cap, or US$71.8m).Reported Earnings • Aug 12Second quarter 2023 earnings released: JP¥1.11 loss per share (vs JP¥9.02 profit in 2Q 2022)Second quarter 2023 results: JP¥1.11 loss per share (down from JP¥9.02 profit in 2Q 2022). Revenue: JP¥2.74b (down 8.7% from 2Q 2022). Net loss: JP¥27.0m (down 112% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.New Risk • Jul 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 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 High level of debt (111% net debt to equity). Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (JP¥10.9b market cap, or US$78.8m).お知らせ • May 31V-cube, Inc. to Report Q2, 2023 Results on Aug 10, 2023V-cube, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023Reported Earnings • May 15First quarter 2023 earnings released: EPS: JP¥1.28 (vs JP¥12.36 in 1Q 2022)First quarter 2023 results: EPS: JP¥1.28 (down from JP¥12.36 in 1Q 2022). Revenue: JP¥3.01b (down 17% from 1Q 2022). Net income: JP¥31.0m (down 90% from 1Q 2022). Profit margin: 1.0% (down from 8.3% in 1Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Major Estimate Revision • Feb 21Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥13.3b to JP¥13.0b. EPS estimate also fell from JP¥32.50 per share to JP¥24.30 per share. Net income forecast to grow 602% next year vs 12% growth forecast for Telecom industry in Japan. Consensus price target down from JP¥870 to JP¥590. Share price fell 11% to JP¥630 over the past week.Reported Earnings • Feb 16Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: JP¥3.46 (down from JP¥54.67 in FY 2021). Revenue: JP¥12.2b (up 6.4% from FY 2021). Net income: JP¥84.0m (down 94% from FY 2021). Profit margin: 0.7% (down from 12% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 83%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Telecom 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 fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • Feb 15+ 1 more updateV-Cube, Inc. Provides Financial Guidance for the Six Months Ending June 30, 2023 and for the Fiscal Year Ending December 31, 2023V-cube, Inc. provided financial guidance for the six months ending June 30, 2023 and for the fiscal year ending December 31, 2023. For the six months ending June 30, 2023, the company expected net sales of JPY 6,200 million, Operating profit of JPY 350 million, Profit attributable to owners of parent of JPY 180 million and Basic EPS of JPY 7.42. For the fiscal year ending December 31, 2023, 2023, the company expected net sales of JPY 12,500 million, Operating profit of JPY 700 million, Profit attributable to owners of parent of JPY 350 million and Basic EPS of JPY 14.42.Valuation Update With 7 Day Price Move • Feb 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to JP¥600, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 7.6% over the past three years.Upcoming Dividend • Dec 22Upcoming dividend of JP¥8.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 30 March 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.1%).お知らせ • Dec 06V-cube, Inc. to Report Fiscal Year 2022 Results on Feb 14, 2023V-cube, Inc. announced that they will report fiscal year 2022 results on Feb 14, 2023Major Estimate Revision • Nov 19Consensus EPS estimates fall by 62%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥13.4b to JP¥12.3b. EPS estimate also fell from JP¥53.60 per share to JP¥20.60 per share. Net income forecast to shrink 1.9% next year vs 12% growth forecast for Telecom industry in Japan . Consensus price target down from JP¥1,600 to JP¥870. Share price was steady at JP¥842 over the past week.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Naomi Koshi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Nov 02Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to JP¥845, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 85% over the past three years.Valuation Update With 7 Day Price Move • Sep 20Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to JP¥1,033, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 141% over the past three years.Major Estimate Revision • Aug 19Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥13.8b to JP¥13.4b. EPS estimate also fell from JP¥61.80 per share to JP¥53.60 per share. Net income forecast to grow 50% next year vs 14% growth forecast for Telecom industry in Japan. Consensus price target of JP¥1,600 unchanged from last update. Share price rose 4.3% to JP¥1,322 over the past week.Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: JP¥9.02 (vs JP¥5.08 in 2Q 2021)Second quarter 2022 results: EPS: JP¥9.02 (up from JP¥5.08 in 2Q 2021). Revenue: JP¥3.00b (up 12% from 2Q 2021). Net income: JP¥219.0m (up 78% from 2Q 2021). Profit margin: 7.3% (up from 4.6% in 2Q 2021). Over the next year, revenue is forecast to grow 22%, compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 39% per year.Valuation Update With 7 Day Price Move • Jun 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to JP¥1,142, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Telecom industry in Japan. Total returns to shareholders of 93% over the past three years.Valuation Update With 7 Day Price Move • Jun 07Investor sentiment improved over the past weekAfter last week's 15% share price gain to JP¥1,002, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 80% over the past three years.Reported Earnings • Apr 30First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: JP¥12.36 (down from JP¥32.43 in 1Q 2021). Revenue: JP¥3.61b (up 7.5% from 1Q 2021). Net income: JP¥300.0m (down 62% from 1Q 2021). Profit margin: 8.3% (down from 24% in 1Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 19%, compared to a 1.7% growth forecast for the industry in Japan. 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 21% per year, which means it is significantly lagging earnings growth.Price Target Changed • Apr 27Price target decreased to JP¥1,500Down from JP¥2,900, the current price target is provided by 1 analyst. New target price is 58% above last closing price of JP¥952. Stock is down 69% over the past year. The company is forecast to post earnings per share of JP¥57.70 for next year compared to JP¥54.67 last year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Naomi Koshi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Apr 04Investor sentiment improved over the past weekAfter last week's 26% share price gain to JP¥1,067, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Telecom industry in Japan. Total returns to shareholders of 104% over the past three years.Reported Earnings • Feb 12Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: JP¥39.71 (down from JP¥47.09 in FY 2020). Revenue: JP¥11.5b (up 39% from FY 2020). Net income: JP¥978.0m (down 14% from FY 2020). Profit margin: 8.5% (down from 14% in FY 2020). Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) also missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 38%, compared to a 1.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Dec 22Upcoming dividend of JP¥8.00 per shareEligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 6.5% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (3.3%).Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorated over the past weekAfter last week's 24% share price decline to JP¥1,325, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Telecom industry in Japan. Total returns to shareholders of 147% over the past three years.Reported Earnings • Nov 02Third quarter 2021 earnings released: EPS JP¥2.77 (vs JP¥8.81 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¥2.48b (up 21% from 3Q 2020). Net income: JP¥67.0m (down 69% from 3Q 2020). Profit margin: 2.7% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Oct 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to JP¥1,829, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Telecom industry in Japan. Total returns to shareholders of 227% over the past three years.Valuation Update With 7 Day Price Move • Aug 16Investor sentiment deteriorated over the past weekAfter last week's 23% share price decline to JP¥1,753, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 20x in the Telecom industry in Japan. Total returns to shareholders of 210% over the past three years.Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥2,733, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 18x in the Telecom industry in Japan. Total returns to shareholders of 370% over the past three years.Reported Earnings • May 01First quarter 2021 earnings released: EPS JP¥32.43 (vs JP¥3.03 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥3.36b (up 117% from 1Q 2020). Net income: JP¥787.0m (up JP¥714.0m from 1Q 2020). Profit margin: 24% (up from 4.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 69% per year, which means it is significantly lagging earnings growth.Reported Earnings • Apr 04Full year 2020 earnings released: EPS JP¥47.09 (vs JP¥1.41 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥8.28b (up 30% from FY 2019). Net income: JP¥1.14b (up JP¥1.10b from FY 2019). Profit margin: 14% (up from 0.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Feb 24New 90-day low: JP¥2,570The company is down 16% from its price of JP¥3,065 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 12% over the same period.財務状況分析短期負債: 3681は マイナスの株主資本 を有しており、これは 短期資産 が 短期負債 をカバーしていないことよりも深刻な状況です。長期負債: 3681は株主資本がマイナスであり、これは短期資産が 長期負債 をカバーしていないことよりも深刻な状況です。デット・ツー・エクイティの歴史と分析負債レベル: 3681は 株主資本がマイナス となっており、これは高い負債レベルよりも深刻な状況です。負債の削減: 3681の株主資本はマイナスなので、時間の経過とともに負債が減少したかどうかを確認する必要はありません。貸借対照表キャッシュ・ランウェイ分析過去に平均して赤字であった企業については、少なくとも1年間のキャッシュ・ランウェイがあるかどうかを評価する。安定したキャッシュランウェイ: 3681は、現在の フリーキャッシュフロー に基づき、1 年以上にわたって十分な キャッシュランウェイ を有しています。キャッシュランウェイの予測: 3681フリーキャッシュフロー 推定値 に基づいて8か月間十分なキャッシュランウェイがあると予測されていますが、その後、追加の資本を調達しました。健全な企業の発掘7D1Y7D1Y7D1YTelecom 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2026/07/02 15:34終値2026/06/30 00:00収益2025/12/31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この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、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。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V-cube, Inc. 0 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Kaname FujitaIchiyoshi Research Institute Inc.Ryohei HarahataNomura Securities Co. Ltd.
分析記事 • Feb 12Health Check: How Prudently Does V-cube (TSE:3681) Use Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
分析記事 • Oct 31Is V-cube (TSE:3681) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
お知らせ • May 19V-cube, Inc. announced that it expects to receive ¥1.799000059 billion in fundingV-cube, Inc. has announced that it has entered into a final agreement as of today regarding the issuance of the Company’s Class V preferred shares through a third-party allotment to AVA3 HD Co., Ltd. of 25,33,80,290 at an issue price of ¥ 7.1 per share for gross proceeds of ¥1,799,000,059 on May 17, 2026. The preferred shares are converted into common shares. Extraordinary General Meeting of Shareholders around mid-June 2026.
Reported Earnings • May 06Full year 2025 earnings released: JP¥143 loss per share (vs JP¥55.72 loss in FY 2024)Full year 2025 results: JP¥143 loss per share (further deteriorated from JP¥55.72 loss in FY 2024). Revenue: JP¥9.86b (down 5.8% from FY 2024). Net loss: JP¥3.70b (loss widened 161% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings.
お知らせ • Apr 04V-cube, Inc. to Report Fiscal Year 2025 Results on Mar 31, 2026V-cube, Inc. announced that they will report fiscal year 2025 results on Mar 31, 2026
Reported Earnings • Apr 03Full year 2025 earnings released: JP¥123 loss per share (vs JP¥55.72 loss in FY 2024)Full year 2025 results: JP¥123 loss per share (further deteriorated from JP¥55.72 loss in FY 2024). Revenue: JP¥9.86b (down 5.8% from FY 2024). Net loss: JP¥3.17b (loss widened 124% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings.
New Risk • Apr 02New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: JP¥1.29b (US$8.10m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (JP¥1.29b market cap, or US$8.10m).
お知らせ • Apr 01V-cube, Inc., Annual General Meeting, Mar 31, 2026V-cube, Inc., Annual General Meeting, Mar 31, 2026.
分析記事 • Jan 17V-cube, Inc.'s (TSE:3681) Price Is Right But Growth Is Lacking After Shares Rocket 39%V-cube, Inc. ( TSE:3681 ) shares have had a really impressive month, gaining 39% after a shaky period beforehand. Not...
New Risk • Jan 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.8b free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 59% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥3.99b market cap, or US$25.3m).
分析記事 • Dec 03V-cube, Inc.'s (TSE:3681) Low P/S No Reason For ExcitementV-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.3x may look like a pretty appealing investment...
お知らせ • Dec 03V-cube, Inc. to Report Fiscal Year 2025 Results on Feb 13, 2026V-cube, Inc. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Feb 13, 2026
Reported Earnings • Nov 19Third quarter 2025 earnings released: JP¥13.80 loss per share (vs JP¥18.22 loss in 3Q 2024)Third quarter 2025 results: JP¥13.80 loss per share (improved from JP¥18.22 loss in 3Q 2024). Revenue: JP¥2.21b (up 1.0% from 3Q 2024). Net loss: JP¥357.0m (loss narrowed 24% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
New Risk • Aug 28New 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 5.3% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.8b free cash flow). Earnings have declined by 63% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥4.32b market cap, or US$29.4m).
お知らせ • Aug 22V-cube, Inc. to Report Q3, 2025 Results on Nov 14, 2025V-cube, Inc. announced that they will report Q3, 2025 results on Nov 14, 2025
Reported Earnings • Aug 16Second quarter 2025 earnings released: JP¥15.99 loss per share (vs JP¥10.92 loss in 2Q 2024)Second quarter 2025 results: JP¥15.99 loss per share (further deteriorated from JP¥10.92 loss in 2Q 2024). Revenue: JP¥2.57b (down 8.7% from 2Q 2024). Net loss: JP¥421.0m (loss widened 51% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 51% per year, which means it has not declined as severely as earnings.
New Risk • Jul 17New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥458m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥458m free cash flow). Earnings have declined by 66% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥4.19b market cap, or US$28.2m).
Reported Earnings • May 23First quarter 2025 earnings released: JP¥8.38 loss per share (vs JP¥2.75 profit in 1Q 2024)First quarter 2025 results: JP¥8.38 loss per share (down from JP¥2.75 profit in 1Q 2024). Revenue: JP¥2.45b (down 13% from 1Q 2024). Net loss: JP¥213.0m (down 418% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance.
お知らせ • May 22V-cube, Inc. to Report Q2, 2025 Results on Aug 14, 2025V-cube, Inc. announced that they will report Q2, 2025 results on Aug 14, 2025
分析記事 • Apr 07Investors Don't See Light At End Of V-cube, Inc.'s (TSE:3681) Tunnel And Push Stock Down 28%V-cube, Inc. ( TSE:3681 ) shareholders that were waiting for something to happen have been dealt a blow with a 28...
Reported Earnings • Apr 05Full year 2024 earnings released: JP¥55.72 loss per share (vs JP¥232 loss in FY 2023)Full year 2024 results: JP¥55.72 loss per share (improved from JP¥232 loss in FY 2023). Revenue: JP¥10.5b (down 5.6% from FY 2023). Net loss: JP¥1.42b (loss narrowed 75% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 07V-cube, Inc. to Report Q1, 2025 Results on May 15, 2025V-cube, Inc. announced that they will report Q1, 2025 results on May 15, 2025
お知らせ • Mar 01V-Cube, Inc. Announces Board and Committee ChangesV-cube, Inc. board announced appointment of Directors as approved by Audit & Supervisory Committee Members as approved at Audit & Supervisory Committee. Candidates for Directors who are Audit & Supervisory Committee Members: Tsuyoshi Nakamaru appointed as Director Full-time Audit Committee Member; Hidehito Akimoto- Outside Director Audit & Supervisory Committee Member; Keiko Komatsu- Outside Director Audit & Supervisory Committee Member. Executive Scheduled to Retire include: Yosuke Kamezaki, Director CTO. Kikuo Fukushima, Outside Director Audit & Supervisory Committee Member. Career Summary of New Candidate: Tsuyoshi Nakamaru; Born on January 30, 1960; April 1984: Joined IBM Japan Ltd. June 2014: Joined V-cube, Inc. July 2018: General Manager, Business Promotion Office of the Company July 2024: Transferred to the Company's Technology Division (current position) Mr. Yosuke Kamezaki and Mr. Kikuo Fukushima are scheduled to retire upon the conclusion of the 25th Annual General Meeting of Shareholders, which is scheduled to be held on March 28, 2025, due to the expiration of their terms.
New Risk • Feb 25New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥4.90b market cap, or US$32.7m).
Reported Earnings • Feb 23Full year 2024 earnings released: JP¥55.72 loss per share (vs JP¥232 loss in FY 2023)Full year 2024 results: JP¥55.72 loss per share (improved from JP¥232 loss in FY 2023). Revenue: JP¥10.5b (down 5.6% from FY 2023). Net loss: JP¥1.42b (loss narrowed 75% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 21V-cube, Inc., Annual General Meeting, Mar 28, 2025V-cube, Inc., Annual General Meeting, Mar 28, 2025.
分析記事 • Feb 20V-cube, Inc.'s (TSE:3681) 26% Share Price Surge Not Quite Adding UpV-cube, Inc. ( TSE:3681 ) shareholders would be excited to see that the share price has had a great month, posting a...
Board Change • Feb 15Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Keiko Komatsu was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
分析記事 • Feb 12Health Check: How Prudently Does V-cube (TSE:3681) Use Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
お知らせ • Dec 20V-cube, Inc. to Report Fiscal Year 2024 Results on Feb 14, 2025V-cube, Inc. announced that they will report fiscal year 2024 results on Feb 14, 2025
Reported Earnings • Nov 19Third quarter 2024 earnings released: JP¥18.24 loss per share (vs JP¥19.74 loss in 3Q 2023)Third quarter 2024 results: JP¥18.24 loss per share (improved from JP¥19.74 loss in 3Q 2023). Revenue: JP¥2.18b (down 7.5% from 3Q 2023). Net loss: JP¥472.0m (loss narrowed 1.5% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance.
お知らせ • Nov 15V-Cube, Inc. Announces the Resignation of David Kovalcik as Director, Effective on December 23, 2024V-cube, Inc. announced the Resignation of David Kovalcik as Director. The resignation will take effect on December 23, 2024, at the Extraordinary General Meeting of Shareholders. Mr. David Kovalcik, who has been involved in global expansion and group management as a director of the Company in his role as CEO of the Company's U.S. subsidiary TEN Events, Inc., was appointed as Chairperson from his previous position as CEO in March 2023. In light of the listing procedures for TEN Holdings, Inc., the parent company of TEN Events, progressing in the United States, Mr. Kovalcik has decided to resign from his position as a director of the Company to formally transfer the leadership role to Mr. Randolph Jones, the current CEO of both companies, marking the listing as a key milestone in this transition.
分析記事 • Oct 31Is V-cube (TSE:3681) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
お知らせ • Sep 26V-cube, Inc. to Report Q3, 2024 Results on Nov 13, 2024V-cube, Inc. announced that they will report Q3, 2024 results on Nov 13, 2024
New Risk • Aug 28New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥1.0b free cash flow). Earnings have declined by 68% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Market cap is less than US$100m (JP¥6.62b market cap, or US$45.9m).
Reported Earnings • Aug 18Second quarter 2024 earnings released: JP¥4.26 loss per share (vs JP¥1.11 loss in 2Q 2023)Second quarter 2024 results: JP¥4.26 loss per share (further deteriorated from JP¥1.11 loss in 2Q 2023). Revenue: JP¥2.81b (up 2.5% from 2Q 2023). Net loss: JP¥106.4m (loss widened 294% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.
New Risk • Aug 02New 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 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 60% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Market cap is less than US$100m (JP¥5.95b market cap, or US$40.0m).
分析記事 • Jul 29Getting In Cheap On V-cube, Inc. (TSE:3681) Might Be DifficultThere wouldn't be many who think V-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.7x is worth a mention...
お知らせ • Jun 02V-cube, Inc. to Report Q2, 2024 Results on Aug 14, 2024V-cube, Inc. announced that they will report Q2, 2024 results on Aug 14, 2024
Reported Earnings • May 20First quarter 2024 earnings released: EPS: JP¥2.75 (vs JP¥1.28 in 1Q 2023)First quarter 2024 results: EPS: JP¥2.75 (up from JP¥1.28 in 1Q 2023). Revenue: JP¥2.81b (down 6.7% from 1Q 2023). Net income: JP¥67.0m (up 116% from 1Q 2023). Profit margin: 2.4% (up from 1.0% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance.
お知らせ • May 16V-cube, Inc. Provides Consolidated Earnings Guidance for the Six Months Ending June 30, 2024 and Fiscal Year Ending December 31, 2024V-cube, Inc. provided consolidated earnings guidance for the six months ending June 30, 2024 and fiscal year ending December 31, 2024. For the six months, the company expects net sales to be JPY 5,600 million, operating profit to be JPY 320 million, ordinary profit to be JPY 280 million, profit attributable to owners of parent of JPY 200 million and basic earnings per share to be JPY 7.85. For the year, the company expects net sales to be JPY 11,500 million, operating profit to be JPY 500 million, ordinary profit to be JPY 400 million, profit attributable to owners of parent of JPY 300 million and basic earnings per share to be JPY 11.78.
New Risk • Apr 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Market cap is less than US$100m (JP¥6.55b market cap, or US$42.7m).
Board Change • Apr 02Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kikuo Fukushima was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 24V-cube, Inc. to Report Q1, 2024 Results on May 15, 2024V-cube, Inc. announced that they will report Q1, 2024 results on May 15, 2024
New Risk • Mar 22New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.9% 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: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Market cap is less than US$100m (JP¥6.90b market cap, or US$45.6m).
分析記事 • Mar 12Cautious Investors Not Rewarding V-cube, Inc.'s (TSE:3681) Performance CompletelyThere wouldn't be many who think V-cube, Inc.'s ( TSE:3681 ) price-to-sales (or "P/S") ratio of 0.6x is worth a mention...
お知らせ • Mar 06V-cube, Inc. announced that it expects to receive ¥347.472 million in fundingV-cube, Inc. announced a privae placement to issue 1,200,000 common shares at an issue price of ¥280.8 per share for the gross proceeds of ¥336,960,000 and 48,000 19th stock acquisition rights at an issue price of ¥219 per right for the gross proceeds of ¥10,512,000; aggregate gross proceeds of ¥347,472,000 on March 6, 2024. Th transaction will include participation from new investors LCAO for 960,000 shares and MAP246 for 240,000 shares and LCAO for 38,400 pieces and MAP246 for 9,600 pieces. The transaction has been approved by the shareholders of the company and is expected to close on March 22, 2024. The company has raised ¥1,994,832,000; issue expenses ¥47,847,680 and the net proceeds ¥1,946,984,320. The total amount of rights is ¥1,657,872,000; amount raised through rights is ¥10,512,000 and amount raised through exercise of stock acquisition rights is ¥1,647,360,000. The exercise price of right is ¥343.2.
お知らせ • Feb 29V-cube, Inc. Announces Board RetirementsV-cube, Inc. announced that at the SBM held on February 27, 2024, the board has approved Mr. Norio Murakami and Ms. Naomi Koshi scheduled to retire as outside directors, due to the expiration of their terms of office after the 24th Ordinary General Meeting of Shareholders scheduled to be held on March 27, 2024.
New Risk • Feb 19New 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 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (JP¥7.48b market cap, or US$49.8m).
New Risk • Feb 17New major risk - Revenue and earnings growthEarnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥6.77b market cap, or US$45.1m).
お知らせ • Feb 15V-cube, Inc., Annual General Meeting, Mar 27, 2024V-cube, Inc., Annual General Meeting, Mar 27, 2024.
お知らせ • Dec 05V-cube, Inc. to Report Fiscal Year 2023 Results on Feb 14, 2024V-cube, Inc. announced that they will report fiscal year 2023 results on Feb 14, 2024
Reported Earnings • Nov 18Third quarter 2023 earnings released: JP¥19.74 loss per share (vs JP¥5.56 loss in 3Q 2022)Third quarter 2023 results: JP¥19.74 loss per share (further deteriorated from JP¥5.56 loss in 3Q 2022). Revenue: JP¥2.36b (down 5.0% from 3Q 2022). Net loss: JP¥479.0m (loss widened 255% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 21 percentage points per year, which is a significant difference in performance.
お知らせ • Sep 23V-cube, Inc. to Report Q3, 2023 Results on Nov 14, 2023V-cube, Inc. announced that they will report Q3, 2023 results on Nov 14, 2023
New Risk • Aug 14New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (JP¥10.4b market cap, or US$71.8m).
Reported Earnings • Aug 12Second quarter 2023 earnings released: JP¥1.11 loss per share (vs JP¥9.02 profit in 2Q 2022)Second quarter 2023 results: JP¥1.11 loss per share (down from JP¥9.02 profit in 2Q 2022). Revenue: JP¥2.74b (down 8.7% from 2Q 2022). Net loss: JP¥27.0m (down 112% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.
New Risk • Jul 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 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 High level of debt (111% net debt to equity). Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (JP¥10.9b market cap, or US$78.8m).
お知らせ • May 31V-cube, Inc. to Report Q2, 2023 Results on Aug 10, 2023V-cube, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023
Reported Earnings • May 15First quarter 2023 earnings released: EPS: JP¥1.28 (vs JP¥12.36 in 1Q 2022)First quarter 2023 results: EPS: JP¥1.28 (down from JP¥12.36 in 1Q 2022). Revenue: JP¥3.01b (down 17% from 1Q 2022). Net income: JP¥31.0m (down 90% from 1Q 2022). Profit margin: 1.0% (down from 8.3% in 1Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Major Estimate Revision • Feb 21Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥13.3b to JP¥13.0b. EPS estimate also fell from JP¥32.50 per share to JP¥24.30 per share. Net income forecast to grow 602% next year vs 12% growth forecast for Telecom industry in Japan. Consensus price target down from JP¥870 to JP¥590. Share price fell 11% to JP¥630 over the past week.
Reported Earnings • Feb 16Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: JP¥3.46 (down from JP¥54.67 in FY 2021). Revenue: JP¥12.2b (up 6.4% from FY 2021). Net income: JP¥84.0m (down 94% from FY 2021). Profit margin: 0.7% (down from 12% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 83%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Telecom 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 fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • Feb 15+ 1 more updateV-Cube, Inc. Provides Financial Guidance for the Six Months Ending June 30, 2023 and for the Fiscal Year Ending December 31, 2023V-cube, Inc. provided financial guidance for the six months ending June 30, 2023 and for the fiscal year ending December 31, 2023. For the six months ending June 30, 2023, the company expected net sales of JPY 6,200 million, Operating profit of JPY 350 million, Profit attributable to owners of parent of JPY 180 million and Basic EPS of JPY 7.42. For the fiscal year ending December 31, 2023, 2023, the company expected net sales of JPY 12,500 million, Operating profit of JPY 700 million, Profit attributable to owners of parent of JPY 350 million and Basic EPS of JPY 14.42.
Valuation Update With 7 Day Price Move • Feb 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to JP¥600, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 7.6% over the past three years.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥8.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 30 March 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.1%).
お知らせ • Dec 06V-cube, Inc. to Report Fiscal Year 2022 Results on Feb 14, 2023V-cube, Inc. announced that they will report fiscal year 2022 results on Feb 14, 2023
Major Estimate Revision • Nov 19Consensus EPS estimates fall by 62%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥13.4b to JP¥12.3b. EPS estimate also fell from JP¥53.60 per share to JP¥20.60 per share. Net income forecast to shrink 1.9% next year vs 12% growth forecast for Telecom industry in Japan . Consensus price target down from JP¥1,600 to JP¥870. Share price was steady at JP¥842 over the past week.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Naomi Koshi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Nov 02Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to JP¥845, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 85% over the past three years.
Valuation Update With 7 Day Price Move • Sep 20Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to JP¥1,033, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 141% over the past three years.
Major Estimate Revision • Aug 19Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥13.8b to JP¥13.4b. EPS estimate also fell from JP¥61.80 per share to JP¥53.60 per share. Net income forecast to grow 50% next year vs 14% growth forecast for Telecom industry in Japan. Consensus price target of JP¥1,600 unchanged from last update. Share price rose 4.3% to JP¥1,322 over the past week.
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: JP¥9.02 (vs JP¥5.08 in 2Q 2021)Second quarter 2022 results: EPS: JP¥9.02 (up from JP¥5.08 in 2Q 2021). Revenue: JP¥3.00b (up 12% from 2Q 2021). Net income: JP¥219.0m (up 78% from 2Q 2021). Profit margin: 7.3% (up from 4.6% in 2Q 2021). Over the next year, revenue is forecast to grow 22%, compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 39% per year.
Valuation Update With 7 Day Price Move • Jun 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to JP¥1,142, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Telecom industry in Japan. Total returns to shareholders of 93% over the past three years.
Valuation Update With 7 Day Price Move • Jun 07Investor sentiment improved over the past weekAfter last week's 15% share price gain to JP¥1,002, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Telecom industry in Japan. Total returns to shareholders of 80% over the past three years.
Reported Earnings • Apr 30First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: JP¥12.36 (down from JP¥32.43 in 1Q 2021). Revenue: JP¥3.61b (up 7.5% from 1Q 2021). Net income: JP¥300.0m (down 62% from 1Q 2021). Profit margin: 8.3% (down from 24% in 1Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 19%, compared to a 1.7% growth forecast for the industry in Japan. 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 21% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Apr 27Price target decreased to JP¥1,500Down from JP¥2,900, the current price target is provided by 1 analyst. New target price is 58% above last closing price of JP¥952. Stock is down 69% over the past year. The company is forecast to post earnings per share of JP¥57.70 for next year compared to JP¥54.67 last year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Naomi Koshi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Apr 04Investor sentiment improved over the past weekAfter last week's 26% share price gain to JP¥1,067, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Telecom industry in Japan. Total returns to shareholders of 104% over the past three years.
Reported Earnings • Feb 12Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: JP¥39.71 (down from JP¥47.09 in FY 2020). Revenue: JP¥11.5b (up 39% from FY 2020). Net income: JP¥978.0m (down 14% from FY 2020). Profit margin: 8.5% (down from 14% in FY 2020). Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) also missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 38%, compared to a 1.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥8.00 per shareEligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 6.5% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (3.3%).
Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorated over the past weekAfter last week's 24% share price decline to JP¥1,325, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Telecom industry in Japan. Total returns to shareholders of 147% over the past three years.
Reported Earnings • Nov 02Third quarter 2021 earnings released: EPS JP¥2.77 (vs JP¥8.81 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¥2.48b (up 21% from 3Q 2020). Net income: JP¥67.0m (down 69% from 3Q 2020). Profit margin: 2.7% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Oct 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to JP¥1,829, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Telecom industry in Japan. Total returns to shareholders of 227% over the past three years.
Valuation Update With 7 Day Price Move • Aug 16Investor sentiment deteriorated over the past weekAfter last week's 23% share price decline to JP¥1,753, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 20x in the Telecom industry in Japan. Total returns to shareholders of 210% over the past three years.
Valuation Update With 7 Day Price Move • Jun 12Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥2,733, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 18x in the Telecom industry in Japan. Total returns to shareholders of 370% over the past three years.
Reported Earnings • May 01First quarter 2021 earnings released: EPS JP¥32.43 (vs JP¥3.03 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥3.36b (up 117% from 1Q 2020). Net income: JP¥787.0m (up JP¥714.0m from 1Q 2020). Profit margin: 24% (up from 4.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 69% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Apr 04Full year 2020 earnings released: EPS JP¥47.09 (vs JP¥1.41 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥8.28b (up 30% from FY 2019). Net income: JP¥1.14b (up JP¥1.10b from FY 2019). Profit margin: 14% (up from 0.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Feb 24New 90-day low: JP¥2,570The company is down 16% from its price of JP¥3,065 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 12% over the same period.