공시 • 3h
Billing System Corporation to Report Q2, 2026 Results on Aug 13, 2026 Billing System Corporation announced that they will report Q2, 2026 results on Aug 13, 2026 Reported Earnings • May 19
First quarter 2026 earnings released: EPS: JP¥28.88 (vs JP¥13.99 in 1Q 2025) First quarter 2026 results: EPS: JP¥28.88 (up from JP¥13.99 in 1Q 2025). Revenue: JP¥1.37b (up 28% from 1Q 2025). Net income: JP¥181.0m (up 106% from 1Q 2025). Profit margin: 13% (up from 8.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 5.1% to JP¥1,060. The fair value is estimated to be JP¥1,347, 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 14%. Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: JP¥64.87 (vs JP¥64.55 in FY 2024) Full year 2025 results: EPS: JP¥64.87 (up from JP¥64.55 in FY 2024). Revenue: JP¥4.55b (up 7.8% from FY 2024). Net income: JP¥408.0m (flat on FY 2024). Profit margin: 9.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 23
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,010. The fair value is estimated to be JP¥1,292, 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 14%. Reported Earnings • Feb 16
Full year 2025 earnings released: EPS: JP¥64.87 (vs JP¥64.55 in FY 2024) Full year 2025 results: EPS: JP¥64.87 (up from JP¥64.55 in FY 2024). Revenue: JP¥4.55b (up 7.8% from FY 2024). Net income: JP¥408.0m (flat on FY 2024). Profit margin: 9.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. 공시 • Feb 13
Billing System Corporation, Annual General Meeting, Mar 24, 2026 Billing System Corporation, Annual General Meeting, Mar 24, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.80 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 26 March 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.0%). 공시 • Dec 13
Billing System Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Billing System Corporation announced that they will report fiscal year 2025 results on Feb 13, 2026 Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: JP¥15.42 (vs JP¥14.15 in 3Q 2024) Third quarter 2025 results: EPS: JP¥15.42 (up from JP¥14.15 in 3Q 2024). Revenue: JP¥1.12b (up 8.6% from 3Q 2024). Net income: JP¥97.0m (up 9.0% from 3Q 2024). Profit margin: 8.7% (up from 8.6% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to JP¥1,148. The fair value is estimated to be JP¥954, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Buy Or Sell Opportunity • Sep 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to JP¥1,147. The fair value is estimated to be JP¥942, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. 공시 • Sep 14
Billing System Corporation to Report Q3, 2025 Results on Nov 14, 2025 Billing System Corporation announced that they will report Q3, 2025 results on Nov 14, 2025 New Risk • Aug 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.2% 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: Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (JP¥8.09b market cap, or US$54.9m). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,300, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 13x in the Diversified Financial industry in Japan. Total returns to shareholders of 50% over the past three years. Buy Or Sell Opportunity • Aug 22
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥1,180. The fair value is estimated to be JP¥934, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: JP¥13.83 (vs JP¥16.70 in 2Q 2024) Second quarter 2025 results: EPS: JP¥13.83 (down from JP¥16.70 in 2Q 2024). Revenue: JP¥1.14b (up 5.1% from 2Q 2024). Net income: JP¥87.0m (down 17% from 2Q 2024). Profit margin: 7.6% (down from 9.7% in 2Q 2024). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is significantly lagging earnings growth. New Risk • Jul 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 0% Dividend yield: 2.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Shares are highly illiquid. Minor Risks Dividend is not well covered by cash flows (0% cash payout ratio). Market cap is less than US$100m (JP¥6.80b market cap, or US$45.8m). Buy Or Sell Opportunity • Jun 23
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to JP¥1,041. The fair value is estimated to be JP¥860, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 18%. 공시 • Jun 14
Billing System Corporation to Report Q2, 2025 Results on Aug 14, 2025 Billing System Corporation announced that they will report Q2, 2025 results on Aug 14, 2025 Reported Earnings • May 19
First quarter 2025 earnings released: EPS: JP¥13.99 (vs JP¥14.95 in 1Q 2024) First quarter 2025 results: EPS: JP¥13.99 (down from JP¥14.95 in 1Q 2024). Revenue: JP¥1.07b (up 7.6% from 1Q 2024). Net income: JP¥88.0m (down 6.4% from 1Q 2024). Profit margin: 8.2% (down from 9.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 08
Now 24% overvalued Over the last 90 days, the stock has fallen 20% to JP¥1,066. The fair value is estimated to be JP¥859, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,000, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 11x in the Diversified Financial industry in Japan. Total returns to shareholders of 1.3% over the past three years. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: JP¥64.55 (vs JP¥47.70 in FY 2023) Full year 2024 results: EPS: JP¥64.55 (up from JP¥47.70 in FY 2023). Revenue: JP¥4.22b (up 12% from FY 2023). Net income: JP¥406.0m (up 35% from FY 2023). Profit margin: 9.6% (up from 7.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 공시 • Mar 12
Billing System Corporation to Report Q1, 2025 Results on May 14, 2025 Billing System Corporation announced that they will report Q1, 2025 results on May 14, 2025 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,299, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 11x in the Diversified Financial industry in Japan. Total returns to shareholders of 53% over the past three years. Reported Earnings • Feb 17
Full year 2024 earnings released: EPS: JP¥64.55 (vs JP¥47.70 in FY 2023) Full year 2024 results: EPS: JP¥64.55 (up from JP¥47.70 in FY 2023). Revenue: JP¥4.22b (up 12% from FY 2023). Net income: JP¥406.0m (up 35% from FY 2023). Profit margin: 9.6% (up from 7.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 공시 • Feb 14
Billing System Corporation, Annual General Meeting, Mar 25, 2025 Billing System Corporation, Annual General Meeting, Mar 25, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 27 March 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.2%). 공시 • Dec 14
Billing System Corporation to Report Fiscal Year 2024 Results on Feb 14, 2025 Billing System Corporation announced that they will report fiscal year 2024 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,500, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 14x in the Diversified Financial industry in Japan. Total returns to shareholders of 35% over the past three years. 공시 • Sep 20
Billing System Corporation to Report Q3, 2024 Results on Nov 14, 2024 Billing System Corporation announced that they will report Q3, 2024 results on Nov 14, 2024 Reported Earnings • Aug 19
Second quarter 2024 earnings released: EPS: JP¥16.70 (vs JP¥3.98 in 2Q 2023) Second quarter 2024 results: EPS: JP¥16.70 (up from JP¥3.98 in 2Q 2023). Revenue: JP¥1.09b (up 12% from 2Q 2023). Net income: JP¥105.0m (up 320% from 2Q 2023). Profit margin: 9.7% (up from 2.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,260, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 11x in the Diversified Financial industry in Japan. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,419, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 14x in the Diversified Financial industry in Japan. Total returns to shareholders of 46% over the past three years. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 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: 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¥8.24b market cap, or US$53.6m). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,190, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 14x in the Diversified Financial industry in Japan. Total returns to shareholders of 17% over the past three years. 공시 • Jun 19
Billing System Corporation to Report Q2, 2024 Results on Aug 14, 2024 Billing System Corporation announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: JP¥14.95 (vs JP¥10.18 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.95 (up from JP¥10.18 in 1Q 2023). Revenue: JP¥995.0m (up 17% from 1Q 2023). Net income: JP¥94.0m (up 47% from 1Q 2023). Profit margin: 9.4% (up from 7.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: JP¥47.70 (vs JP¥51.36 in FY 2022) Full year 2023 results: EPS: JP¥47.70 (down from JP¥51.36 in FY 2022). Revenue: JP¥3.78b (up 10% from FY 2022). Net income: JP¥300.0m (down 7.1% from FY 2022). Profit margin: 7.9% (down from 9.4% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. 공시 • Mar 16
Billing System Corporation to Report Q1, 2024 Results on May 14, 2024 Billing System Corporation announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Feb 17
Full year 2023 earnings released: EPS: JP¥47.70 (vs JP¥51.36 in FY 2022) Full year 2023 results: EPS: JP¥47.70 (down from JP¥51.36 in FY 2022). Revenue: JP¥3.78b (up 10% from FY 2022). Net income: JP¥300.0m (down 7.1% from FY 2022). Profit margin: 7.9% (down from 9.4% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. 공시 • Feb 16
Billing System Corporation, Annual General Meeting, Mar 26, 2024 Billing System Corporation, Annual General Meeting, Mar 26, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥10.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 24 March 2024. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (3.3%). 공시 • Dec 15
Billing System Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Billing System Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: JP¥10.65 (vs JP¥9.22 in 3Q 2022) Third quarter 2023 results: EPS: JP¥10.65 (up from JP¥9.22 in 3Q 2022). Revenue: JP¥920.0m (up 21% from 3Q 2022). Net income: JP¥67.0m (up 16% from 3Q 2022). Profit margin: 7.3% (down from 7.7% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • Sep 10
Billing System Corporation to Report Q3, 2023 Results on Nov 13, 2023 Billing System Corporation announced that they will report Q3, 2023 results on Nov 13, 2023 Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: JP¥3.98 (vs JP¥10.18 in 2Q 2022) Second quarter 2023 results: EPS: JP¥3.98 (down from JP¥10.18 in 2Q 2022). Revenue: JP¥971.0m (up 21% from 2Q 2022). Net income: JP¥25.0m (down 61% from 2Q 2022). Profit margin: 2.6% (down from 8.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • May 31
Billing System Corporation to Report Q2, 2023 Results on Aug 10, 2023 Billing System Corporation announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 16
First quarter 2023 earnings released: EPS: JP¥10.18 (vs JP¥14.31 in 1Q 2022) First quarter 2023 results: EPS: JP¥10.18 (down from JP¥14.31 in 1Q 2022). Revenue: JP¥853.0m (up 7.2% from 1Q 2022). Net income: JP¥64.0m (down 29% from 1Q 2022). Profit margin: 7.5% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: JP¥51.36 (vs JP¥35.19 in FY 2021) Full year 2022 results: EPS: JP¥51.36 (up from JP¥35.19 in FY 2021). Revenue: JP¥3.43b (up 9.3% from FY 2021). Net income: JP¥323.0m (up 44% from FY 2021). Profit margin: 9.4% (up from 7.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. 공시 • Feb 15
Billing System Corporation, Annual General Meeting, Mar 23, 2023 Billing System Corporation, Annual General Meeting, Mar 23, 2023. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: JP¥51.36 (vs JP¥35.19 in FY 2021) Full year 2022 results: EPS: JP¥51.36 (up from JP¥35.19 in FY 2021). Revenue: JP¥3.43b (up 9.3% from FY 2021). Net income: JP¥323.0m (up 44% from FY 2021). Profit margin: 9.4% (up from 7.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 공시 • Dec 28
Billing System Corporation to Report Fiscal Year 2022 Results on Feb 13, 2023 Billing System Corporation announced that they will report fiscal year 2022 results on Feb 13, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,518, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 37% share price gain to JP¥1,604, the stock trades at a trailing P/E ratio of 35x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 32% over the past three years. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Outside Director Shigeo Kizaki was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: JP¥9.22 (vs JP¥3.29 in 3Q 2021) Third quarter 2022 results: EPS: JP¥9.22 (up from JP¥3.29 in 3Q 2021). Revenue: JP¥758.0m (up 4.7% from 3Q 2021). Net income: JP¥58.0m (up 176% from 3Q 2021). Profit margin: 7.7% (up from 2.9% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥1,089, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 18x in the IT industry in Japan. Total loss to shareholders of 20% over the past three years. 공시 • Sep 02
Billing System Corporation to Report Q3, 2022 Results on Nov 10, 2022 Billing System Corporation announced that they will report Q3, 2022 results on Nov 10, 2022 Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: JP¥10.18 (vs JP¥9.41 in 2Q 2021) Second quarter 2022 results: EPS: JP¥10.18 (up from JP¥9.41 in 2Q 2021). Revenue: JP¥800.0m (down 3.6% from 2Q 2021). Net income: JP¥64.0m (up 6.7% from 2Q 2021). Profit margin: 8.0% (up from 7.2% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. 공시 • Jun 19
Billing System Corporation to Report Q2, 2022 Results on Aug 10, 2022 Billing System Corporation announced that they will report Q2, 2022 results on Aug 10, 2022 Reported Earnings • May 16
First quarter 2022 earnings released: EPS: JP¥14.31 (vs JP¥10.51 in 1Q 2021) First quarter 2022 results: EPS: JP¥14.31 (up from JP¥10.51 in 1Q 2021). Revenue: JP¥796.0m (up 2.3% from 1Q 2021). Net income: JP¥90.0m (up 34% from 1Q 2021). Profit margin: 11% (up from 8.6% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Outside Director Shigeo Kizaki was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Apr 08
Billing System Corporation to Report Q1, 2022 Results on May 12, 2022 Billing System Corporation announced that they will report Q1, 2022 results on May 12, 2022 Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥990, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 45% over the past three years. 공시 • Feb 12
Billing System Corporation, Annual General Meeting, Mar 24, 2022 Billing System Corporation, Annual General Meeting, Mar 24, 2022. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥35.19 (up from JP¥22.28 in FY 2020). Revenue: JP¥3.14b (up 8.9% from FY 2020). Net income: JP¥224.0m (up 58% from FY 2020). Profit margin: 7.1% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥8.75 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.3%). Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS JP¥3.29 (vs JP¥4.86 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¥724.0m (up 3.7% from 3Q 2020). Net income: JP¥21.0m (down 32% from 3Q 2020). Profit margin: 2.9% (down from 4.4% 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 20% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,185, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 23x in the IT industry in Japan. Total loss to shareholders of 61% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS JP¥9.41 (vs JP¥3.61 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥830.0m (up 17% from 2Q 2020). Net income: JP¥60.0m (up 161% from 2Q 2020). Profit margin: 7.2% (up from 3.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 15
First quarter 2021 earnings released: EPS JP¥10.51 (vs JP¥5.02 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥778.0m (up 17% from 1Q 2020). Net income: JP¥67.0m (up 109% from 1Q 2020). Profit margin: 8.6% (up from 4.8% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS JP¥22.28 (vs JP¥3.77 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥2.89b (up 26% from FY 2019). Net income: JP¥142.0m (up JP¥166.0m from FY 2019). Profit margin: 4.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 26
New 90-day low: JP¥1,127 The company is down 21% from its price of JP¥1,423 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 1.0% over the same period. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥22.28 (vs JP¥3.77 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥2.89b (up 26% from FY 2019). Net income: JP¥142.0m (up JP¥166.0m from FY 2019). Profit margin: 4.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. 공시 • Feb 12
Billing System Corporation, Annual General Meeting, Mar 25, 2021 Billing System Corporation, Annual General Meeting, Mar 25, 2021. Is New 90 Day High Low • Dec 25
New 90-day low: JP¥1,176 The company is down 26% from its price of JP¥1,592 on 25 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 1.0% over the same period. 공시 • Dec 11
Billing System Corporation to Report Fiscal Year 2020 Results on Feb 10, 2021 Billing System Corporation announced that they will report fiscal year 2020 results on Feb 10, 2021 Is New 90 Day High Low • Dec 04
New 90-day low: JP¥1,375 The company is down 17% from its price of JP¥1,650 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 8.0% over the same period. 공시 • Sep 25
Billing System Corporation to Report Q3, 2020 Results on Nov 12, 2020 Billing System Corporation announced that they will report Q3, 2020 results on Nov 12, 2020