View ValuationCRI Middleware 향후 성장Future 기준 점검 4/6CRI Middleware (는) 각각 연간 25.4% 및 17.3% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 25.4% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.6% 로 예상됩니다.핵심 정보25.4%이익 성장률25.37%EPS 성장률Software 이익 성장15.2%매출 성장률17.3%향후 자기자본이익률11.60%애널리스트 커버리지Low마지막 업데이트02 Mar 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesReported Earnings • Feb 14First quarter 2026 earnings released: EPS: JP¥4.98 (vs JP¥19.33 in 1Q 2025)First quarter 2026 results: EPS: JP¥4.98 (down from JP¥19.33 in 1Q 2025). Revenue: JP¥803.0m (down 6.7% from 1Q 2025). Net income: JP¥26.0m (down 74% from 1Q 2025). Profit margin: 3.2% (down from 12% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.공지 • Dec 27CRI Middleware Co., Ltd. to Report Q1, 2026 Results on Feb 12, 2026CRI Middleware Co., Ltd. announced that they will report Q1, 2026 results on Feb 12, 2026공지 • Dec 06CRI Middleware Co., Ltd. to Unveil Ultra-Low-Heat GaN-Powered Full Digital Amplifier at CES 2026, Redefining Sound Architecture for MobilityCRI Middleware Co., Ltd. will debut its GaN-powered full digital amplifier at CES 2026 in Las Vegas. The product, CRI D-Amp Driver x GaN, combines the company's proprietary speaker-driving technology with gallium nitride (GaN) semiconductors to deliver: Ultra-low heat generation -- runs cool even at high output; High energy efficiency -- reduced power consumption for battery-sensitive applications; Simplified circuitry -- eliminates external components such as low-pass filters, reducing bill of materials cost. The amplifier targets the automotive market, where software-defined vehicles (SDVs) are creating demand for high-quality in-cabin entertainment. CRI D-Amp driver x GaN is designed to power everything from music playback to immersive experiences such as movies and karaoke, while minimizing thermal load and energy draw--critical requirements as vehicles add more electronic systems. CRI D-AMP Driver uses a proprietary method to pulse-drive speakers directly, eliminating the need for external components such as low- pass filters. The underlying technology has been deployed in more than 20 million devices across embedded and mobility applications. By constructing the amplification circuit with GaN semiconductors, CRI has achieved further gains in efficiency and thermal performance. CRI will also showcase CRI ADX Automotive, software that manages audio both inside and outside the vehicle, including warning tones for pedestrian alert systems.분석 기사 • Nov 13CRI Middleware's (TSE:3698) Earnings May Just Be The Starting PointInvestors were underwhelmed by the solid earnings posted by CRI Middleware Co., Ltd. ( TSE:3698 ) recently. Our...Reported Earnings • Nov 08Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: JP¥80.38 (up from JP¥58.18 in FY 2024). Revenue: JP¥3.45b (up 8.9% from FY 2024). Net income: JP¥420.0m (up 38% from FY 2024). Profit margin: 12% (up from 9.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.분석 기사 • Nov 06Estimating The Fair Value Of CRI Middleware Co., Ltd. (TSE:3698)Key Insights CRI Middleware's estimated fair value is JP¥1,194 based on 2 Stage Free Cash Flow to Equity CRI...공지 • Nov 06CRI Middleware Co., Ltd., Annual General Meeting, Dec 18, 2025CRI Middleware Co., Ltd., Annual General Meeting, Dec 18, 2025.Valuation Update With 7 Day Price Move • Nov 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to JP¥1,073, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 21% over the past three years.공지 • Sep 25CRI Middleware Co., Ltd. to Report Fiscal Year 2025 Results on Nov 06, 2025CRI Middleware Co., Ltd. announced that they will report fiscal year 2025 results on Nov 06, 2025Upcoming Dividend • Sep 22Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%).분석 기사 • Sep 11Should You Be Adding CRI Middleware (TSE:3698) To Your Watchlist Today?It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Buy Or Sell Opportunity • Sep 08Now 21% overvaluedThe stock has been flat over the last 90 days, currently trading at JP¥1,447. The fair value is estimated to be JP¥1,199, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 94%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 16% in the next 2 years.Reported Earnings • Aug 08Third quarter 2025 earnings released: EPS: JP¥10.72 (vs JP¥2.87 in 3Q 2024)Third quarter 2025 results: EPS: JP¥10.72 (up from JP¥2.87 in 3Q 2024). Revenue: JP¥756.0m (up 2.4% from 3Q 2024). Net income: JP¥56.0m (up 273% from 3Q 2024). Profit margin: 7.4% (up from 2.0% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 30%After last week's 30% share price gain to JP¥1,323, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Software industry in Japan. Total returns to shareholders of 30% over the past three years.Buy Or Sell Opportunity • May 14Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 47% to JP¥1,308. The fair value is estimated to be JP¥1,071, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 84%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 5.2% in the next 2 years.Reported Earnings • May 09Second quarter 2025 earnings released: EPS: JP¥32.54 (vs JP¥24.50 in 2Q 2024)Second quarter 2025 results: EPS: JP¥32.54 (up from JP¥24.50 in 2Q 2024). Revenue: JP¥994.0m (up 20% from 2Q 2024). Net income: JP¥170.0m (up 33% from 2Q 2024). Profit margin: 17% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.분석 기사 • May 07Optimistic Investors Push CRI Middleware Co., Ltd. (TSE:3698) Shares Up 29% But Growth Is LackingThe CRI Middleware Co., Ltd. ( TSE:3698 ) share price has done very well over the last month, posting an excellent gain...분석 기사 • Apr 10Is CRI Middleware Co., Ltd. (TSE:3698) Potentially Undervalued?CRI Middleware Co., Ltd. ( TSE:3698 ), is not the largest company out there, but it saw significant share price...New Risk • Apr 07New 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 5.7% 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 (5.7% average weekly change). Market cap is less than US$100m (JP¥4.21b market cap, or US$28.8m).Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to JP¥808, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Software industry in Japan. Total loss to shareholders of 32% over the past three years.공지 • Mar 26CRI Middleware Co., Ltd. to Report Q2, 2025 Results on May 08, 2025CRI Middleware Co., Ltd. announced that they will report Q2, 2025 results on May 08, 2025Reported Earnings • Feb 15First quarter 2025 earnings released: EPS: JP¥19.33 (vs JP¥4.59 in 1Q 2024)First quarter 2025 results: EPS: JP¥19.33 (up from JP¥4.59 in 1Q 2024). Revenue: JP¥861.0m (up 28% from 1Q 2024). Net income: JP¥101.0m (up 321% from 1Q 2024). Profit margin: 12% (up from 3.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.분석 기사 • Feb 13CRI Middleware (TSE:3698) Has A Rock Solid Balance SheetSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...공지 • Jan 03CRI Middleware Co., Ltd. to Report Q1, 2025 Results on Feb 13, 2025CRI Middleware Co., Ltd. announced that they will report Q1, 2025 results on Feb 13, 2025Reported Earnings • Nov 09Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥58.18 (up from JP¥43.67 in FY 2023). Revenue: JP¥3.17b (up 5.9% from FY 2023). Net income: JP¥304.0m (up 31% from FY 2023). Profit margin: 9.6% (up from 7.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.공지 • Nov 07CRI Middleware Co., Ltd., Annual General Meeting, Dec 19, 2024CRI Middleware Co., Ltd., Annual General Meeting, Dec 19, 2024.Upcoming Dividend • Sep 20Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.2%).Reported Earnings • Aug 13Third quarter 2024 earnings released: EPS: JP¥2.87 (vs JP¥9.19 in 3Q 2023)Third quarter 2024 results: EPS: JP¥2.87 (down from JP¥9.19 in 3Q 2023). Revenue: JP¥738.0m (up 4.1% from 3Q 2023). Net income: JP¥15.0m (down 69% from 3Q 2023). Profit margin: 2.0% (down from 6.8% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings.분석 기사 • Aug 07Investors Interested In CRI Middleware Co., Ltd.'s (TSE:3698) RevenuesThere wouldn't be many who think CRI Middleware Co., Ltd.'s ( TSE:3698 ) price-to-sales (or "P/S") ratio of 1.2x is...Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥656, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 19x in the Software industry in Japan. Total loss to shareholders of 55% over the past three years.공지 • Jun 27CRI Middleware Co., Ltd. to Report Q3, 2024 Results on Aug 08, 2024CRI Middleware Co., Ltd. announced that they will report Q3, 2024 results on Aug 08, 2024분석 기사 • May 21The Strong Earnings Posted By CRI Middleware (TSE:3698) Are A Good Indication Of The Strength Of The BusinessCRI Middleware Co., Ltd. ( TSE:3698 ) just reported healthy earnings but the stock price didn't move much. Our analysis...Reported Earnings • May 11Second quarter 2024 earnings released: EPS: JP¥24.50 (vs JP¥20.57 in 2Q 2023)Second quarter 2024 results: EPS: JP¥24.50 (up from JP¥20.57 in 2Q 2023). Revenue: JP¥826.0m (up 7.1% from 2Q 2023). Net income: JP¥128.0m (up 16% from 2Q 2023). Profit margin: 16% (up from 14% in 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.공지 • Mar 27CRI Middleware Co., Ltd. to Report Q2, 2024 Results on May 09, 2024CRI Middleware Co., Ltd. announced that they will report Q2, 2024 results on May 09, 2024Reported Earnings • Feb 10First quarter 2024 earnings released: EPS: JP¥4.59 (vs JP¥6.78 in 1Q 2023)First quarter 2024 results: EPS: JP¥4.59 (down from JP¥6.78 in 1Q 2023). Revenue: JP¥673.0m (down 1.2% from 1Q 2023). Net income: JP¥24.0m (down 35% from 1Q 2023). Profit margin: 3.6% (down from 5.4% in 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 57% 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.Reported Earnings • Dec 28Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: JP¥43.67 (up from JP¥62.12 loss in FY 2022). Revenue: JP¥2.99b (up 5.3% from FY 2022). Net income: JP¥232.0m (up JP¥571.0m from FY 2022). Profit margin: 7.8% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.공지 • Dec 27CRI Middleware Co., Ltd. to Report Q1, 2024 Results on Feb 08, 2024CRI Middleware Co., Ltd. announced that they will report Q1, 2024 results on Feb 08, 2024공지 • Nov 11CRI Middleware Co., Ltd., Annual General Meeting, Dec 21, 2023CRI Middleware Co., Ltd., Annual General Meeting, Dec 21, 2023.Reported Earnings • Nov 11Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: JP¥43.67 (up from JP¥62.12 loss in FY 2022). Revenue: JP¥2.99b (up 5.3% from FY 2022). Net income: JP¥232.0m (up JP¥571.0m from FY 2022). Profit margin: 7.8% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.공지 • Sep 27CRI Middleware Co., Ltd. to Report Fiscal Year 2023 Results on Nov 09, 2023CRI Middleware Co., Ltd. announced that they will report fiscal year 2023 results on Nov 09, 2023New Risk • Aug 08New 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: 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¥6.08b market cap, or US$42.7m).Reported Earnings • Aug 04Third quarter 2023 earnings released: EPS: JP¥9.19 (vs JP¥5.13 loss in 3Q 2022)Third quarter 2023 results: EPS: JP¥9.19 (up from JP¥5.13 loss in 3Q 2022). Revenue: JP¥709.0m (up 8.6% from 3Q 2022). Net income: JP¥48.0m (up JP¥76.0m from 3Q 2022). Profit margin: 6.8% (up from net loss in 3Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.공지 • Jun 26CRI Middleware Co., Ltd. to Report Q3, 2023 Results on Aug 03, 2023CRI Middleware Co., Ltd. announced that they will report Q3, 2023 results on Aug 03, 2023Reported Earnings • May 17Second quarter 2023 earnings released: EPS: JP¥20.57 (vs JP¥1.47 in 2Q 2022)Second quarter 2023 results: EPS: JP¥20.57 (up from JP¥1.47 in 2Q 2022). Revenue: JP¥771.0m (up 18% from 2Q 2022). Net income: JP¥110.0m (up JP¥102.0m from 2Q 2022). Profit margin: 14% (up from 1.2% in 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance.공지 • Feb 17+ 1 more updateTENDA Co.,LTD. (TSE:4198) signed a share transfer agreement to acquire R-Force Entertainment Inc. from CRI Middleware Co., Ltd. (TSE:3698).TENDA Co.,LTD. (TSE:4198) signed a share transfer agreement to acquire R-Force Entertainment Inc. from CRI Middleware Co., Ltd. (TSE:3698) on February 15, 2023. As part of transaction, TENDA will acquire 1,050 shares. For period ended September 2022, R-Force Entertainment reported net worth of ¥60.8 million, total assets of ¥190.9 million, operating income of -¥111.4 million and net income of -¥231.4 million. The transaction is expected to complete on February 28, 2023.Reported Earnings • Feb 12First quarter 2023 earnings released: EPS: JP¥6.78 (vs JP¥0.55 in 1Q 2022)First quarter 2023 results: EPS: JP¥6.78 (up from JP¥0.55 in 1Q 2022). Revenue: JP¥681.0m (up 3.5% from 1Q 2022). Net income: JP¥37.0m (up JP¥34.0m from 1Q 2022). Profit margin: 5.4% (up from 0.5% in 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance.Reported Earnings • Dec 28Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: JP¥62.12 loss per share (down from JP¥36.59 profit in FY 2021). Revenue: JP¥2.84b (down 1.8% from FY 2021). Net loss: JP¥339.0m (down 270% from profit in FY 2021). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Japan. 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 24% per year, which means it has not declined as severely as earnings.공지 • Dec 26CRI Middleware Co., Ltd. to Report Q1, 2023 Results on Feb 09, 2023CRI Middleware Co., Ltd. announced that they will report Q1, 2023 results on Feb 09, 2023Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). Outside Auditor Minoru Uchida was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Reported Earnings • Nov 13Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: JP¥62.12 loss per share (down from JP¥36.59 profit in FY 2021). Revenue: JP¥2.84b (down 1.8% from FY 2021). Net loss: JP¥339.0m (down 270% from profit in FY 2021). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. 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 17% per year, which means it has not declined as severely as earnings.공지 • Nov 12CRI Middleware Co., Ltd., Annual General Meeting, Dec 22, 2022CRI Middleware Co., Ltd., Annual General Meeting, Dec 22, 2022.공지 • Sep 24CRI Middleware Co., Ltd. to Report Fiscal Year 2022 Results on Nov 10, 2022CRI Middleware Co., Ltd. announced that they will report fiscal year 2022 results on Nov 10, 2022Reported Earnings • Aug 05Third quarter 2022 earnings released: JP¥5.13 loss per share (vs JP¥8.45 profit in 3Q 2021)Third quarter 2022 results: JP¥5.13 loss per share (down from JP¥8.45 profit in 3Q 2021). Revenue: JP¥653.0m (flat on 3Q 2021). Net loss: JP¥28.0m (down 161% from profit in 3Q 2021). Over the next year, revenue is forecast to grow 34%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.Reported Earnings • May 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: JP¥1.47 (down from JP¥12.69 in 2Q 2021). Revenue: JP¥654.0m (down 16% from 2Q 2021). Net income: JP¥8.00m (down 88% from 2Q 2021). Profit margin: 1.2% (down from 8.9% in 2Q 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 29%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). Outside Auditor Minoru Uchida was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.공지 • Apr 08CRI Middleware Co., Ltd. to Report Q2, 2022 Results on May 12, 2022CRI Middleware Co., Ltd. announced that they will report Q2, 2022 results on May 12, 2022Valuation Update With 7 Day Price Move • Feb 17Investor sentiment deteriorated over the past weekAfter last week's 25% share price decline to JP¥1,016, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Software industry in Japan. Total loss to shareholders of 72% over the past three years.Reported Earnings • Feb 14First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: JP¥0.55 (down from JP¥8.30 in 1Q 2021). Revenue: JP¥658.0m (down 4.1% from 1Q 2021). Net income: JP¥3.00m (down 93% from 1Q 2021). Profit margin: 0.5% (down from 6.6% in 1Q 2021). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 18%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥1,513, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 25x in the Software industry in Japan. Total loss to shareholders of 41% over the past three years.Reported Earnings • Nov 12Full year 2021 earnings released: EPS JP¥36.59 (vs JP¥70.46 in FY 2020)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥2.89b (up 23% from FY 2020). Net income: JP¥199.0m (down 47% from FY 2020). Profit margin: 6.9% (down from 16% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.Reported Earnings • Aug 06Third quarter 2021 earnings released: EPS JP¥8.45 (vs JP¥15.56 in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥656.0m (up 43% from 3Q 2020). Net income: JP¥46.0m (down 45% from 3Q 2020). Profit margin: 7.0% (down from 18% 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 6% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Reported Earnings • May 16Second quarter 2021 earnings released: EPS JP¥12.69 (vs JP¥10.52 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥776.0m (up 47% from 2Q 2020). Net income: JP¥69.0m (up 23% from 2Q 2020). Profit margin: 8.9% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.공지 • Jan 09CRI Middleware Co., Ltd. to Report Q1, 2021 Results on Feb 09, 2021CRI Middleware Co., Ltd. announced that they will report Q1, 2021 results on Feb 09, 2021Valuation Update With 7 Day Price Move • Jan 01Investor sentiment improved over the past weekAfter last week's 18% share price gain to JP¥2,615, the stock is trading at a trailing P/E ratio of 37.1x, up from the previous P/E ratio of 31.6x. This compares to an average P/E of 37x in the Software industry in Japan. Total returns to shareholders over the past three years are 34%.Valuation Update With 7 Day Price Move • Dec 29Investor sentiment improved over the past weekAfter last week's 21% share price gain to JP¥2,570, the stock is trading at a trailing P/E ratio of 36.5x, up from the previous P/E ratio of 30.1x. This compares to an average P/E of 36x in the Software industry in Japan. Total returns to shareholders over the past three years are 32%.Is New 90 Day High Low • Dec 21New 90-day high: JP¥2,235The company is up 36% from its price of JP¥1,648 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period.Is New 90 Day High Low • Dec 01New 90-day high: JP¥2,056The company is up 32% from its price of JP¥1,560 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 2.0% over the same period.공지 • Nov 14CRI Middleware Co., Ltd., Annual General Meeting, Dec 17, 2020CRI Middleware Co., Ltd., Annual General Meeting, Dec 17, 2020.공지 • Jul 05CRI Middleware Co., Ltd. to Report Q3, 2020 Results on Aug 06, 2020CRI Middleware Co., Ltd. announced that they will report Q3, 2020 results on Aug 06, 2020이익 및 매출 성장 예측TSE:3698 - 애널리스트 향후 추정치 및 과거 재무 데이터 (JPY Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수9/30/20285,500750N/AN/A19/30/20274,700550N/AN/A19/30/20264,000500N/AN/A112/31/20253,390345N/AN/AN/A9/30/20253,448420829849N/A6/30/20253,541464N/AN/AN/A3/31/20253,523423437492N/A12/31/20243,355381N/AN/AN/A9/30/20243,167304216328N/A6/30/20243,066204N/AN/AN/A3/31/20243,037237315446N/A12/31/20232,982219N/AN/AN/A9/30/20232,990232330495N/A6/30/20233,036-127N/AN/AN/A3/31/20232,980-20313305N/A12/31/20222,863-305N/AN/AN/A9/30/20222,840-339-40923N/A6/30/20222,73922N/AN/AN/A3/31/20222,74296-83266N/A12/31/20212,864157N/AN/AN/A9/30/20212,892199356546N/A6/30/20213,001342N/AN/AN/A3/31/20212,803379373534N/A12/31/20202,555366N/AN/AN/A9/30/20202,349373332445N/A6/30/20201,968293N/AN/AN/A3/31/20201,864221176277N/A12/31/20191,790216N/AN/AN/A9/30/20191,784259N/A118N/A6/30/20191,832272N/AN/AN/A3/31/20191,866342N/A334N/A12/31/20181,809365N/AN/AN/A9/30/20181,641284N/A372N/A6/30/20181,395185N/AN/AN/A3/31/20181,350138N/A209N/A12/31/20171,290105N/AN/AN/A9/30/20171,25880N/A74N/A6/30/20171,343141N/AN/AN/A3/31/20171,335158N/A179N/A12/31/20161,358182N/AN/AN/A9/30/20161,334203N/A275N/A6/30/20161,308199N/AN/AN/A3/31/20161,205157N/A65N/A12/31/20151,156134N/AN/AN/A9/30/20151,195161N/A104N/A6/30/20151,172113N/AN/AN/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 3698 의 연간 예상 수익 증가율(25.4%)이 saving rate(0.8%)보다 높습니다.수익 vs 시장: 3698 의 연간 수익(25.4%)이 JP 시장(10.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 3698 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: 3698 의 수익(연간 17.3%)이 JP 시장(연간 6.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 3698 의 수익(연간 17.3%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 3698의 자본 수익률은 3년 후 11.6%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YSoftware 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/11 19:42종가2026/05/11 00:00수익2025/12/31연간 수익2025/09/30데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스CRI Middleware Co., Ltd.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Yasuyoshi MimuraIchiyoshi Research Institute Inc.
Reported Earnings • Feb 14First quarter 2026 earnings released: EPS: JP¥4.98 (vs JP¥19.33 in 1Q 2025)First quarter 2026 results: EPS: JP¥4.98 (down from JP¥19.33 in 1Q 2025). Revenue: JP¥803.0m (down 6.7% from 1Q 2025). Net income: JP¥26.0m (down 74% from 1Q 2025). Profit margin: 3.2% (down from 12% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
공지 • Dec 27CRI Middleware Co., Ltd. to Report Q1, 2026 Results on Feb 12, 2026CRI Middleware Co., Ltd. announced that they will report Q1, 2026 results on Feb 12, 2026
공지 • Dec 06CRI Middleware Co., Ltd. to Unveil Ultra-Low-Heat GaN-Powered Full Digital Amplifier at CES 2026, Redefining Sound Architecture for MobilityCRI Middleware Co., Ltd. will debut its GaN-powered full digital amplifier at CES 2026 in Las Vegas. The product, CRI D-Amp Driver x GaN, combines the company's proprietary speaker-driving technology with gallium nitride (GaN) semiconductors to deliver: Ultra-low heat generation -- runs cool even at high output; High energy efficiency -- reduced power consumption for battery-sensitive applications; Simplified circuitry -- eliminates external components such as low-pass filters, reducing bill of materials cost. The amplifier targets the automotive market, where software-defined vehicles (SDVs) are creating demand for high-quality in-cabin entertainment. CRI D-Amp driver x GaN is designed to power everything from music playback to immersive experiences such as movies and karaoke, while minimizing thermal load and energy draw--critical requirements as vehicles add more electronic systems. CRI D-AMP Driver uses a proprietary method to pulse-drive speakers directly, eliminating the need for external components such as low- pass filters. The underlying technology has been deployed in more than 20 million devices across embedded and mobility applications. By constructing the amplification circuit with GaN semiconductors, CRI has achieved further gains in efficiency and thermal performance. CRI will also showcase CRI ADX Automotive, software that manages audio both inside and outside the vehicle, including warning tones for pedestrian alert systems.
분석 기사 • Nov 13CRI Middleware's (TSE:3698) Earnings May Just Be The Starting PointInvestors were underwhelmed by the solid earnings posted by CRI Middleware Co., Ltd. ( TSE:3698 ) recently. Our...
Reported Earnings • Nov 08Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: JP¥80.38 (up from JP¥58.18 in FY 2024). Revenue: JP¥3.45b (up 8.9% from FY 2024). Net income: JP¥420.0m (up 38% from FY 2024). Profit margin: 12% (up from 9.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
분석 기사 • Nov 06Estimating The Fair Value Of CRI Middleware Co., Ltd. (TSE:3698)Key Insights CRI Middleware's estimated fair value is JP¥1,194 based on 2 Stage Free Cash Flow to Equity CRI...
공지 • Nov 06CRI Middleware Co., Ltd., Annual General Meeting, Dec 18, 2025CRI Middleware Co., Ltd., Annual General Meeting, Dec 18, 2025.
Valuation Update With 7 Day Price Move • Nov 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to JP¥1,073, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 21% over the past three years.
공지 • Sep 25CRI Middleware Co., Ltd. to Report Fiscal Year 2025 Results on Nov 06, 2025CRI Middleware Co., Ltd. announced that they will report fiscal year 2025 results on Nov 06, 2025
Upcoming Dividend • Sep 22Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%).
분석 기사 • Sep 11Should You Be Adding CRI Middleware (TSE:3698) To Your Watchlist Today?It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Buy Or Sell Opportunity • Sep 08Now 21% overvaluedThe stock has been flat over the last 90 days, currently trading at JP¥1,447. The fair value is estimated to be JP¥1,199, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 94%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 16% in the next 2 years.
Reported Earnings • Aug 08Third quarter 2025 earnings released: EPS: JP¥10.72 (vs JP¥2.87 in 3Q 2024)Third quarter 2025 results: EPS: JP¥10.72 (up from JP¥2.87 in 3Q 2024). Revenue: JP¥756.0m (up 2.4% from 3Q 2024). Net income: JP¥56.0m (up 273% from 3Q 2024). Profit margin: 7.4% (up from 2.0% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 30%After last week's 30% share price gain to JP¥1,323, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Software industry in Japan. Total returns to shareholders of 30% over the past three years.
Buy Or Sell Opportunity • May 14Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 47% to JP¥1,308. The fair value is estimated to be JP¥1,071, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 84%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 5.2% in the next 2 years.
Reported Earnings • May 09Second quarter 2025 earnings released: EPS: JP¥32.54 (vs JP¥24.50 in 2Q 2024)Second quarter 2025 results: EPS: JP¥32.54 (up from JP¥24.50 in 2Q 2024). Revenue: JP¥994.0m (up 20% from 2Q 2024). Net income: JP¥170.0m (up 33% from 2Q 2024). Profit margin: 17% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
분석 기사 • May 07Optimistic Investors Push CRI Middleware Co., Ltd. (TSE:3698) Shares Up 29% But Growth Is LackingThe CRI Middleware Co., Ltd. ( TSE:3698 ) share price has done very well over the last month, posting an excellent gain...
분석 기사 • Apr 10Is CRI Middleware Co., Ltd. (TSE:3698) Potentially Undervalued?CRI Middleware Co., Ltd. ( TSE:3698 ), is not the largest company out there, but it saw significant share price...
New Risk • Apr 07New 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 5.7% 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 (5.7% average weekly change). Market cap is less than US$100m (JP¥4.21b market cap, or US$28.8m).
Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to JP¥808, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Software industry in Japan. Total loss to shareholders of 32% over the past three years.
공지 • Mar 26CRI Middleware Co., Ltd. to Report Q2, 2025 Results on May 08, 2025CRI Middleware Co., Ltd. announced that they will report Q2, 2025 results on May 08, 2025
Reported Earnings • Feb 15First quarter 2025 earnings released: EPS: JP¥19.33 (vs JP¥4.59 in 1Q 2024)First quarter 2025 results: EPS: JP¥19.33 (up from JP¥4.59 in 1Q 2024). Revenue: JP¥861.0m (up 28% from 1Q 2024). Net income: JP¥101.0m (up 321% from 1Q 2024). Profit margin: 12% (up from 3.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
분석 기사 • Feb 13CRI Middleware (TSE:3698) Has A Rock Solid Balance SheetSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
공지 • Jan 03CRI Middleware Co., Ltd. to Report Q1, 2025 Results on Feb 13, 2025CRI Middleware Co., Ltd. announced that they will report Q1, 2025 results on Feb 13, 2025
Reported Earnings • Nov 09Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: JP¥58.18 (up from JP¥43.67 in FY 2023). Revenue: JP¥3.17b (up 5.9% from FY 2023). Net income: JP¥304.0m (up 31% from FY 2023). Profit margin: 9.6% (up from 7.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
공지 • Nov 07CRI Middleware Co., Ltd., Annual General Meeting, Dec 19, 2024CRI Middleware Co., Ltd., Annual General Meeting, Dec 19, 2024.
Upcoming Dividend • Sep 20Upcoming dividend of JP¥15.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.2%).
Reported Earnings • Aug 13Third quarter 2024 earnings released: EPS: JP¥2.87 (vs JP¥9.19 in 3Q 2023)Third quarter 2024 results: EPS: JP¥2.87 (down from JP¥9.19 in 3Q 2023). Revenue: JP¥738.0m (up 4.1% from 3Q 2023). Net income: JP¥15.0m (down 69% from 3Q 2023). Profit margin: 2.0% (down from 6.8% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings.
분석 기사 • Aug 07Investors Interested In CRI Middleware Co., Ltd.'s (TSE:3698) RevenuesThere wouldn't be many who think CRI Middleware Co., Ltd.'s ( TSE:3698 ) price-to-sales (or "P/S") ratio of 1.2x is...
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥656, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 19x in the Software industry in Japan. Total loss to shareholders of 55% over the past three years.
공지 • Jun 27CRI Middleware Co., Ltd. to Report Q3, 2024 Results on Aug 08, 2024CRI Middleware Co., Ltd. announced that they will report Q3, 2024 results on Aug 08, 2024
분석 기사 • May 21The Strong Earnings Posted By CRI Middleware (TSE:3698) Are A Good Indication Of The Strength Of The BusinessCRI Middleware Co., Ltd. ( TSE:3698 ) just reported healthy earnings but the stock price didn't move much. Our analysis...
Reported Earnings • May 11Second quarter 2024 earnings released: EPS: JP¥24.50 (vs JP¥20.57 in 2Q 2023)Second quarter 2024 results: EPS: JP¥24.50 (up from JP¥20.57 in 2Q 2023). Revenue: JP¥826.0m (up 7.1% from 2Q 2023). Net income: JP¥128.0m (up 16% from 2Q 2023). Profit margin: 16% (up from 14% in 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
공지 • Mar 27CRI Middleware Co., Ltd. to Report Q2, 2024 Results on May 09, 2024CRI Middleware Co., Ltd. announced that they will report Q2, 2024 results on May 09, 2024
Reported Earnings • Feb 10First quarter 2024 earnings released: EPS: JP¥4.59 (vs JP¥6.78 in 1Q 2023)First quarter 2024 results: EPS: JP¥4.59 (down from JP¥6.78 in 1Q 2023). Revenue: JP¥673.0m (down 1.2% from 1Q 2023). Net income: JP¥24.0m (down 35% from 1Q 2023). Profit margin: 3.6% (down from 5.4% in 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 57% 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.
Reported Earnings • Dec 28Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: JP¥43.67 (up from JP¥62.12 loss in FY 2022). Revenue: JP¥2.99b (up 5.3% from FY 2022). Net income: JP¥232.0m (up JP¥571.0m from FY 2022). Profit margin: 7.8% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance.
공지 • Dec 27CRI Middleware Co., Ltd. to Report Q1, 2024 Results on Feb 08, 2024CRI Middleware Co., Ltd. announced that they will report Q1, 2024 results on Feb 08, 2024
공지 • Nov 11CRI Middleware Co., Ltd., Annual General Meeting, Dec 21, 2023CRI Middleware Co., Ltd., Annual General Meeting, Dec 21, 2023.
Reported Earnings • Nov 11Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: JP¥43.67 (up from JP¥62.12 loss in FY 2022). Revenue: JP¥2.99b (up 5.3% from FY 2022). Net income: JP¥232.0m (up JP¥571.0m from FY 2022). Profit margin: 7.8% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.
공지 • Sep 27CRI Middleware Co., Ltd. to Report Fiscal Year 2023 Results on Nov 09, 2023CRI Middleware Co., Ltd. announced that they will report fiscal year 2023 results on Nov 09, 2023
New Risk • Aug 08New 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: 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¥6.08b market cap, or US$42.7m).
Reported Earnings • Aug 04Third quarter 2023 earnings released: EPS: JP¥9.19 (vs JP¥5.13 loss in 3Q 2022)Third quarter 2023 results: EPS: JP¥9.19 (up from JP¥5.13 loss in 3Q 2022). Revenue: JP¥709.0m (up 8.6% from 3Q 2022). Net income: JP¥48.0m (up JP¥76.0m from 3Q 2022). Profit margin: 6.8% (up from net loss in 3Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.
공지 • Jun 26CRI Middleware Co., Ltd. to Report Q3, 2023 Results on Aug 03, 2023CRI Middleware Co., Ltd. announced that they will report Q3, 2023 results on Aug 03, 2023
Reported Earnings • May 17Second quarter 2023 earnings released: EPS: JP¥20.57 (vs JP¥1.47 in 2Q 2022)Second quarter 2023 results: EPS: JP¥20.57 (up from JP¥1.47 in 2Q 2022). Revenue: JP¥771.0m (up 18% from 2Q 2022). Net income: JP¥110.0m (up JP¥102.0m from 2Q 2022). Profit margin: 14% (up from 1.2% in 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance.
공지 • Feb 17+ 1 more updateTENDA Co.,LTD. (TSE:4198) signed a share transfer agreement to acquire R-Force Entertainment Inc. from CRI Middleware Co., Ltd. (TSE:3698).TENDA Co.,LTD. (TSE:4198) signed a share transfer agreement to acquire R-Force Entertainment Inc. from CRI Middleware Co., Ltd. (TSE:3698) on February 15, 2023. As part of transaction, TENDA will acquire 1,050 shares. For period ended September 2022, R-Force Entertainment reported net worth of ¥60.8 million, total assets of ¥190.9 million, operating income of -¥111.4 million and net income of -¥231.4 million. The transaction is expected to complete on February 28, 2023.
Reported Earnings • Feb 12First quarter 2023 earnings released: EPS: JP¥6.78 (vs JP¥0.55 in 1Q 2022)First quarter 2023 results: EPS: JP¥6.78 (up from JP¥0.55 in 1Q 2022). Revenue: JP¥681.0m (up 3.5% from 1Q 2022). Net income: JP¥37.0m (up JP¥34.0m from 1Q 2022). Profit margin: 5.4% (up from 0.5% in 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance.
Reported Earnings • Dec 28Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: JP¥62.12 loss per share (down from JP¥36.59 profit in FY 2021). Revenue: JP¥2.84b (down 1.8% from FY 2021). Net loss: JP¥339.0m (down 270% from profit in FY 2021). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Japan. 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 24% per year, which means it has not declined as severely as earnings.
공지 • Dec 26CRI Middleware Co., Ltd. to Report Q1, 2023 Results on Feb 09, 2023CRI Middleware Co., Ltd. announced that they will report Q1, 2023 results on Feb 09, 2023
Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). Outside Auditor Minoru Uchida was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Reported Earnings • Nov 13Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: JP¥62.12 loss per share (down from JP¥36.59 profit in FY 2021). Revenue: JP¥2.84b (down 1.8% from FY 2021). Net loss: JP¥339.0m (down 270% from profit in FY 2021). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. 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 17% per year, which means it has not declined as severely as earnings.
공지 • Nov 12CRI Middleware Co., Ltd., Annual General Meeting, Dec 22, 2022CRI Middleware Co., Ltd., Annual General Meeting, Dec 22, 2022.
공지 • Sep 24CRI Middleware Co., Ltd. to Report Fiscal Year 2022 Results on Nov 10, 2022CRI Middleware Co., Ltd. announced that they will report fiscal year 2022 results on Nov 10, 2022
Reported Earnings • Aug 05Third quarter 2022 earnings released: JP¥5.13 loss per share (vs JP¥8.45 profit in 3Q 2021)Third quarter 2022 results: JP¥5.13 loss per share (down from JP¥8.45 profit in 3Q 2021). Revenue: JP¥653.0m (flat on 3Q 2021). Net loss: JP¥28.0m (down 161% from profit in 3Q 2021). Over the next year, revenue is forecast to grow 34%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 16Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: JP¥1.47 (down from JP¥12.69 in 2Q 2021). Revenue: JP¥654.0m (down 16% from 2Q 2021). Net income: JP¥8.00m (down 88% from 2Q 2021). Profit margin: 1.2% (down from 8.9% in 2Q 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 29%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). Outside Auditor Minoru Uchida was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
공지 • Apr 08CRI Middleware Co., Ltd. to Report Q2, 2022 Results on May 12, 2022CRI Middleware Co., Ltd. announced that they will report Q2, 2022 results on May 12, 2022
Valuation Update With 7 Day Price Move • Feb 17Investor sentiment deteriorated over the past weekAfter last week's 25% share price decline to JP¥1,016, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Software industry in Japan. Total loss to shareholders of 72% over the past three years.
Reported Earnings • Feb 14First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: JP¥0.55 (down from JP¥8.30 in 1Q 2021). Revenue: JP¥658.0m (down 4.1% from 1Q 2021). Net income: JP¥3.00m (down 93% from 1Q 2021). Profit margin: 0.5% (down from 6.6% in 1Q 2021). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 18%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.
Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥1,513, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 25x in the Software industry in Japan. Total loss to shareholders of 41% over the past three years.
Reported Earnings • Nov 12Full year 2021 earnings released: EPS JP¥36.59 (vs JP¥70.46 in FY 2020)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥2.89b (up 23% from FY 2020). Net income: JP¥199.0m (down 47% from FY 2020). Profit margin: 6.9% (down from 16% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Aug 06Third quarter 2021 earnings released: EPS JP¥8.45 (vs JP¥15.56 in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥656.0m (up 43% from 3Q 2020). Net income: JP¥46.0m (down 45% from 3Q 2020). Profit margin: 7.0% (down from 18% 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 6% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Reported Earnings • May 16Second quarter 2021 earnings released: EPS JP¥12.69 (vs JP¥10.52 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥776.0m (up 47% from 2Q 2020). Net income: JP¥69.0m (up 23% from 2Q 2020). Profit margin: 8.9% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
공지 • Jan 09CRI Middleware Co., Ltd. to Report Q1, 2021 Results on Feb 09, 2021CRI Middleware Co., Ltd. announced that they will report Q1, 2021 results on Feb 09, 2021
Valuation Update With 7 Day Price Move • Jan 01Investor sentiment improved over the past weekAfter last week's 18% share price gain to JP¥2,615, the stock is trading at a trailing P/E ratio of 37.1x, up from the previous P/E ratio of 31.6x. This compares to an average P/E of 37x in the Software industry in Japan. Total returns to shareholders over the past three years are 34%.
Valuation Update With 7 Day Price Move • Dec 29Investor sentiment improved over the past weekAfter last week's 21% share price gain to JP¥2,570, the stock is trading at a trailing P/E ratio of 36.5x, up from the previous P/E ratio of 30.1x. This compares to an average P/E of 36x in the Software industry in Japan. Total returns to shareholders over the past three years are 32%.
Is New 90 Day High Low • Dec 21New 90-day high: JP¥2,235The company is up 36% from its price of JP¥1,648 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period.
Is New 90 Day High Low • Dec 01New 90-day high: JP¥2,056The company is up 32% from its price of JP¥1,560 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 2.0% over the same period.
공지 • Nov 14CRI Middleware Co., Ltd., Annual General Meeting, Dec 17, 2020CRI Middleware Co., Ltd., Annual General Meeting, Dec 17, 2020.
공지 • Jul 05CRI Middleware Co., Ltd. to Report Q3, 2020 Results on Aug 06, 2020CRI Middleware Co., Ltd. announced that they will report Q3, 2020 results on Aug 06, 2020