Reported Earnings • May 19
Full year 2026 earnings released: JP¥119 loss per share (vs JP¥17.86 loss in FY 2025) Full year 2026 results: JP¥119 loss per share (further deteriorated from JP¥17.86 loss in FY 2025). Revenue: JP¥731.0m (up 13% from FY 2025). Net loss: JP¥259.0m (loss widened JP¥223.0m from FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Aankondiging • May 15
Image Information Inc., Annual General Meeting, Jun 19, 2026 Image Information Inc., Annual General Meeting, Jun 19, 2026. Aankondiging • Feb 17
Image Information Inc. announced that it has received ¥599.9915 million in funding from CYBRiDGE LLC On February 16, 2026. Image Information Inc. announces that it has closed the transaction. New Risk • Feb 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 62% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risks Revenue is less than US$5m (JP¥754m revenue, or US$4.9m). Market cap is less than US$100m (JP¥2.52b market cap, or US$16.4m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: JP¥31.25 loss per share (vs JP¥4.46 loss in 3Q 2025) Third quarter 2026 results: JP¥31.25 loss per share (further deteriorated from JP¥4.46 loss in 3Q 2025). Revenue: JP¥164.0m (flat on 3Q 2025). Net loss: JP¥63.0m (loss widened JP¥54.0m from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Aankondiging • Dec 20
Image Information Inc. to Report Q3, 2026 Results on Feb 12, 2026 Image Information Inc. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 17
Second quarter 2026 earnings released: JP¥59.52 loss per share (vs JP¥5.46 loss in 2Q 2025) Second quarter 2026 results: JP¥59.52 loss per share (further deteriorated from JP¥5.46 loss in 2Q 2025). Revenue: JP¥182.0m (up 23% from 2Q 2025). Net loss: JP¥120.0m (loss widened JP¥109.0m from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Oct 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.48b (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 36% per year over the past 5 years. Market cap is less than US$10m (JP¥1.48b market cap, or US$9.72m). Minor Risk Revenue is less than US$5m (JP¥721m revenue, or US$4.7m). Aankondiging • Oct 17
Image Information Inc. to Report Q2, 2026 Results on Nov 13, 2025 Image Information Inc. announced that they will report Q2, 2026 results on Nov 13, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: JP¥12.40 loss per share (vs JP¥22.32 profit in 1Q 2025) First quarter 2026 results: JP¥12.40 loss per share (down from JP¥22.32 profit in 1Q 2025). Revenue: JP¥193.0m (up 64% from 1Q 2025). Net loss: JP¥25.0m (down 156% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Aankondiging • May 31
Image Information Inc. to Report Q1, 2026 Results on Aug 07, 2025 Image Information Inc. announced that they will report Q1, 2026 results on Aug 07, 2025 Aankondiging • May 27
Image Information Inc., Annual General Meeting, Jun 24, 2025 Image Information Inc., Annual General Meeting, Jun 24, 2025. Reported Earnings • May 21
Full year 2025 earnings released: JP¥17.86 loss per share (vs JP¥9.92 loss in FY 2024) Full year 2025 results: JP¥17.86 loss per share (further deteriorated from JP¥9.92 loss in FY 2024). Revenue: JP¥646.0m (up 23% from FY 2024). Net loss: JP¥36.0m (loss widened 80% from FY 2024). 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 4% per year, which means it is significantly lagging earnings growth. New Risk • May 21
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (JP¥1.04b market cap, or US$7.21m). Minor Risk Revenue is less than US$5m (JP¥646m revenue, or US$4.5m). New Risk • May 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$10m (JP¥1.15b market cap, or US$7.89m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Revenue is less than US$5m (JP¥578m revenue, or US$4.0m). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to JP¥571, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 27% over the past three years. New Risk • Apr 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (JP¥961.7m market cap, or US$6.72m). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Revenue is less than US$5m (JP¥578m revenue, or US$4.0m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥378, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 17% over the past three years. Aankondiging • Mar 27
Image Information Inc. to Report Fiscal Year 2025 Results on May 15, 2025 Image Information Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: JP¥4.46 loss per share (vs JP¥1.98 loss in 3Q 2024) Third quarter 2025 results: JP¥4.46 loss per share (further deteriorated from JP¥1.98 loss in 3Q 2024). Revenue: JP¥165.0m (up 30% from 3Q 2024). Net loss: JP¥9.00m (loss widened 125% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 21
Image Information Inc. (TSE:3803) agreed to acquire 33.30% stake in BANYANS INC from Fumio Tsuri for ¥27 million. Image Information Inc. (TSE:3803) agreed to acquire 33.30% stake in BANYANS INC from Fumio Tsuri for ¥27 million on December 19, 2024. The expected completion of the transaction is December 20, 2024. Aankondiging • Dec 07
Image Information Inc. to Report Q3, 2025 Results on Feb 13, 2025 Image Information Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥543, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 4.4% over the past three years. Aankondiging • Aug 28
Image Information Inc. to Report Q2, 2025 Results on Nov 15, 2024 Image Information Inc. announced that they will report Q2, 2025 results on Nov 15, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥22.32 (vs JP¥5.95 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥22.32 (up from JP¥5.95 loss in 1Q 2024). Revenue: JP¥118.0m (up 6.3% from 1Q 2024). Net income: JP¥45.0m (up JP¥57.0m from 1Q 2024). Profit margin: 38% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 14
Image Information Inc. to Report Q1, 2025 Results on Aug 09, 2024 Image Information Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 21
Full year 2024 earnings released: JP¥9.92 loss per share (vs JP¥24.80 profit in FY 2023) Full year 2024 results: JP¥9.92 loss per share (down from JP¥24.80 profit in FY 2023). Revenue: JP¥527.0m (down 3.5% from FY 2023). Net loss: JP¥20.0m (down 140% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • May 18
Image Information Inc., Annual General Meeting, Jun 27, 2024 Image Information Inc., Annual General Meeting, Jun 27, 2024. Aankondiging • Apr 05
Image Information Inc. to Report Fiscal Year 2024 Results on May 15, 2024 Image Information Inc. announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 15
Third quarter 2024 earnings released: JP¥1.98 loss per share (vs JP¥0.50 loss in 3Q 2023) Third quarter 2024 results: JP¥1.98 loss per share (further deteriorated from JP¥0.50 loss in 3Q 2023). Revenue: JP¥127.0m (flat on 3Q 2023). Net loss: JP¥4.00m (loss widened 300% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Jan 16
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 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (JP¥899.2m market cap, or US$6.17m). Minor Risks Share price has been volatile over the past 3 months (4.3% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (JP¥515m revenue, or US$3.5m). Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥526, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 19x in the IT industry in Japan. Total loss to shareholders of 7.9% over the past three years. Reported Earnings • Nov 12
Second quarter 2024 earnings released: JP¥2.98 loss per share (vs JP¥3.47 loss in 2Q 2023) Second quarter 2024 results: JP¥2.98 loss per share (improved from JP¥3.47 loss in 2Q 2023). Revenue: JP¥142.0m (down 15% from 2Q 2023). Net loss: JP¥6.00m (loss narrowed 14% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥423, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 18x in the IT industry in Japan. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to JP¥637, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 19x in the IT industry in Japan. Total loss to shareholders of 8.9% over the past three years. Reported Earnings • Aug 14
First quarter 2024 earnings released: JP¥5.95 loss per share (vs JP¥11.41 loss in 1Q 2023) First quarter 2024 results: JP¥5.95 loss per share (improved from JP¥11.41 loss in 1Q 2023). Revenue: JP¥111.0m (down 5.1% from 1Q 2023). Net loss: JP¥12.0m (loss narrowed 48% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥24.80 (vs JP¥2.98 in FY 2022) Full year 2023 results: EPS: JP¥24.80 (up from JP¥2.98 in FY 2022). Revenue: JP¥546.0m (down 41% from FY 2022). Net income: JP¥50.0m (up JP¥44.0m from FY 2022). Profit margin: 9.2% (up from 0.6% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • May 14
Image Information Inc., Annual General Meeting, Jun 23, 2023 Image Information Inc., Annual General Meeting, Jun 23, 2023. Reported Earnings • Feb 15
Third quarter 2023 earnings released: JP¥0.50 loss per share (vs JP¥1.98 profit in 3Q 2022) Third quarter 2023 results: JP¥0.50 loss per share (down from JP¥1.98 profit in 3Q 2022). Revenue: JP¥126.0m (down 70% from 3Q 2022). Net loss: JP¥1.00m (down 125% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Nov 16
Second quarter 2023 earnings released: JP¥3.47 loss per share (vs JP¥18.35 profit in 2Q 2022) Second quarter 2023 results: JP¥3.47 loss per share (down from JP¥18.35 profit in 2Q 2022). Revenue: JP¥167.0m (down 4.0% from 2Q 2022). Net loss: JP¥7.00m (down 119% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 6 highly experienced directors. No independent directors (3 non-independent directors). External Auditor Fumio Miyamoto was the last director to join the board, commencing their role in 2014. 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 13
Second quarter 2023 earnings released: JP¥3.47 loss per share (vs JP¥18.35 profit in 2Q 2022) Second quarter 2023 results: JP¥3.47 loss per share (down from JP¥18.35 profit in 2Q 2022). Revenue: JP¥167.0m (down 4.0% from 2Q 2022). Net loss: JP¥7.00m (down 119% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
First quarter 2023 earnings released: JP¥11.41 loss per share (vs JP¥9.92 loss in 1Q 2022) First quarter 2023 results: JP¥11.41 loss per share (down from JP¥9.92 loss in 1Q 2022). Revenue: JP¥117.0m (down 30% from 1Q 2022). Net loss: JP¥23.0m (loss widened 15% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥2.98 (vs JP¥71.42 in FY 2021) Full year 2022 results: EPS: JP¥2.98 (down from JP¥71.42 in FY 2021). Revenue: JP¥928.0m (up 36% from FY 2021). Net income: JP¥6.00m (down 96% from FY 2021). Profit margin: 0.6% (down from 21% in FY 2021). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Aankondiging • May 15
Image Information Inc., Annual General Meeting, Jun 24, 2022 Image Information Inc., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. No independent directors (3 non-independent directors). External Auditor Fumio Miyamoto was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Aankondiging • Apr 08
Image Information Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Image Information Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥456, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 18x in the IT industry in Japan. Total loss to shareholders of 26% over the past three years. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥1.98 (down from JP¥12.40 in 3Q 2021). Revenue: JP¥416.0m (up 160% from 3Q 2021). Net income: JP¥4.00m (down 84% from 3Q 2021). Profit margin: 1.0% (down from 16% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 39% share price gain to JP¥572, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 20x in the IT industry in Japan. Total loss to shareholders of 22% over the past three years. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS JP¥18.35 (vs JP¥26.78 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥174.0m (up 13% from 2Q 2021). Net income: JP¥37.0m (down 32% from 2Q 2021). Profit margin: 21% (down from 35% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
Full year 2021 earnings released: EPS JP¥71.42 (vs JP¥30.25 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥684.0m (down 1.2% from FY 2020). Net income: JP¥144.0m (up JP¥205.0m from FY 2020). Profit margin: 21% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥12.40 (vs JP¥6.45 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥160.0m (down 2.4% from 3Q 2020). Net income: JP¥25.0m (up 92% from 3Q 2020). Profit margin: 16% (up from 7.9% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 02
New 90-day high: JP¥639 The company is up 20% from its price of JP¥533 on 04 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 14% over the same period. Aankondiging • Dec 30
Image Information Inc. to Report Q3, 2021 Results on Feb 12, 2021 Image Information Inc. announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Nov 24
New 90-day low: JP¥532 The company is down 34% from its price of JP¥809 on 27 August 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 3.0% over the same period. Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS JP¥26.78 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥154.0m (down 23% from 2Q 2020). Net income: JP¥54.0m (up JP¥58.0m from 2Q 2020). Profit margin: 35% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Aankondiging • Sep 03
Image Information Inc. to Report Q2, 2021 Results on Nov 11, 2020 Image Information Inc. announced that they will report Q2, 2021 results on Nov 11, 2020 Aankondiging • Jul 19
Image Information Inc. to Report Q1, 2021 Results on Aug 13, 2020 Image Information Inc. announced that they will report Q1, 2021 results on Aug 13, 2020 Aankondiging • Jun 29
Image Information Inc. (JASDAQ:3803) agreed to acquire remaining 35.72% stake in Image Information System Inc. from Yatahisa Katayanagi. Image Information Inc. (JASDAQ:3803) agreed to acquire remaining 35.72% stake in Image Information System Inc. from Yatahisa Katayanagi on June 26, 2020. Yatahisa Katayanagi will sell 2,500 shares as a part of the transaction. Post transaction, Image Information System will operate as a wholly owned subsidiary of Image Information Inc. Image Information System reported net assets of ¥45.05 million, total assets of ¥188.23 million, sales of ¥557.33 million, operating loss of ¥11.41 million and net loss of ¥27.44 million for the year ended March 2020. The transaction is expected to complete by July 1, 2020.