Reported Earnings • May 13
First quarter 2026 earnings released: EPS: JP¥4.49 (vs JP¥2.79 in 1Q 2025) First quarter 2026 results: EPS: JP¥4.49 (up from JP¥2.79 in 1Q 2025). Revenue: JP¥6.24b (up 37% from 1Q 2025). Net income: JP¥517.0m (up 61% from 1Q 2025). Profit margin: 8.3% (up from 7.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Aankondiging • Apr 17
BASE,Inc. (TSE:4477) executed a contract to acquire Port Inc. from UNIVISBP Investment Partnership and Takashi Tamaki for ¥1.3 billion BASE,Inc. (TSE:4477) executed a contract to acquire Port Inc. from UNIVISBP Investment Partnership and Takashi Tamaki for ¥1.3 billion on April 16, 2026. A cash consideration of ¥1.3 billion will be paid by BASE,Inc. As part of consideration, ¥1.3 billion is paid towards common shares and class A preferred shares of Port.
The expected completion of the transaction is April 17, 2026. Reported Earnings • Mar 28
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥15.87 (up from JP¥2.94 in FY 2024). Revenue: JP¥20.7b (up 30% from FY 2024). Net income: JP¥1.83b (up 437% from FY 2024). Profit margin: 8.8% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 112%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥15.87 (up from JP¥2.94 in FY 2024). Revenue: JP¥20.7b (up 30% from FY 2024). Net income: JP¥1.83b (up 437% from FY 2024). Profit margin: 8.8% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 112%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 27
BASE,Inc. to Report Fiscal Year 2025 Results on Feb 12, 2026 BASE,Inc. announced that they will report fiscal year 2025 results on Feb 12, 2026 New Risk • Nov 26
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 5.8% 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 (5.8% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Nov 10
Now 22% overvalued Over the last 90 days, the stock has fallen 5.8% to JP¥371. The fair value is estimated to be JP¥303, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: JP¥4.00 (vs JP¥2.04 in 3Q 2024) Third quarter 2025 results: EPS: JP¥4.00 (up from JP¥2.04 in 3Q 2024). Revenue: JP¥4.91b (up 24% from 3Q 2024). Net income: JP¥460.0m (up 95% from 3Q 2024). Profit margin: 9.4% (up from 5.9% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 02
BASE,Inc. to Report Q3, 2025 Results on Nov 06, 2025 BASE,Inc. announced that they will report Q3, 2025 results on Nov 06, 2025 Aankondiging • Aug 15
Hiroyuki Maki completed the acquisition of 6.7% stake in BASE,Inc. (TSE:4477) for ¥3.1 billion. Hiroyuki Maki proposed to acquire an unknown minority stake in BASE,Inc. (TSE:4477) on May 7, 2025. Hiroyuki Maki currently owns 14.55% stake in BASE. The offer price per shares offered is ¥400. On May 15, 2025, the board of directors of BASE has resolved unanimously at its meeting held to oppose the Tender Offer and shareholders were requested not to tender their shares, and those who have already tendered were requested to withdraw from the related contractual arrangements without delay. On May July 31, 2025, Hiroyuki Maki increased his offer per share to ¥407. The tender offer period is now extended to August 14, 2025.
Hiroyuki Maki completed the acquisition of 6.7% stake in BASE,Inc. (TSE:4477) for ¥3.1 billion on August 14, 2025. Hiroyuki Maki acquired additional 7,633,486 shares during tender offer period. Reported Earnings • Aug 07
Second quarter 2025 earnings released: EPS: JP¥1.08 (vs JP¥2.06 in 2Q 2024) Second quarter 2025 results: EPS: JP¥1.08 (down from JP¥2.06 in 2Q 2024). Revenue: JP¥4.57b (up 23% from 2Q 2024). Net income: JP¥124.0m (down 48% from 2Q 2024). Profit margin: 2.7% (down from 6.4% in 2Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 31
Price target increased by 27% to JP¥380 Up from JP¥300, the current price target is an average from 2 analysts. New target price is 5.7% below last closing price of JP¥403. The company is forecast to post earnings per share of JP¥11.10 for next year compared to JP¥2.94 last year. Aankondiging • Jun 27
BASE,Inc. to Report Q2, 2025 Results on Aug 05, 2025 BASE,Inc. announced that they will report Q2, 2025 results on Aug 05, 2025 Aankondiging • May 15
Hiroyuki Maki cancelled the acquisition of unknown minority stake in BASE,Inc. (TSE:4477). Hiroyuki Maki bid to acquire an unknown minority stake in BASE,Inc. (TSE:4477) on May 7, 2025. Hiroyuki Maki has owned 14.55% stake in BASE. The offer price per shares offered is ¥400.
Hiroyuki Maki cancelled the acquisition of unknown minority stake in BASE,Inc. (TSE:4477) on May 15, 2025. Shareholders are respectfully requested not to tender their shares in the Tender Offer, and those who have
already tendered are kindly requested to withdraw from the related contractual arrangements without delay. The Board of Directors of BASE has resolved unanimously at its meeting held to oppose the Tender Offer. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: JP¥2.79 (vs JP¥1.85 in 1Q 2024) First quarter 2025 results: EPS: JP¥2.79 (up from JP¥1.85 in 1Q 2024). Revenue: JP¥4.57b (up 27% from 1Q 2024). Net income: JP¥322.0m (up 51% from 1Q 2024). Profit margin: 7.0% (up from 5.9% in 1Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Outside Director Misa Matsuzaki was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Mar 27
BASE,Inc. to Report Q1, 2025 Results on May 08, 2025 BASE,Inc. announced that they will report Q1, 2025 results on May 08, 2025 New Risk • Feb 17
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 8.3% 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 Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 17
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥2.94 (up from JP¥5.30 loss in FY 2023). Revenue: JP¥16.0b (up 37% from FY 2023). Net income: JP¥340.0m (up JP¥946.0m from FY 2023). Profit margin: 2.1% (up from net loss in FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 45%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 15
Price target increased by 17% to JP¥333 Up from JP¥285, the current price target is an average from 3 analysts. New target price is 7.4% below last closing price of JP¥360. Stock is up 9.8% over the past year. The company is forecast to post earnings per share of JP¥5.37 next year compared to a net loss per share of JP¥5.30 last year. Aankondiging • Feb 15
BASE,Inc. (TSE:4477) announces an Equity Buyback for 3,400,000 shares, representing 2.92% for ¥1,000 million. BASE,Inc. (TSE:4477) announces a share repurchase program. Under the program, the company will repurchase up to 3,400,000 shares, representing 2.9% of total shares outstanding for ¥1,000 million. The Board resolved to acquire treasury shares to enhance capital efficiency. The program will expire on May 30, 2025. As of December 31, 2024, The company has 116,350,048 shares issued and 36,542 shares in treasury. Aankondiging • Feb 14
BASE,Inc., Annual General Meeting, Mar 27, 2025 BASE,Inc., Annual General Meeting, Mar 27, 2025. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥346, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 20x in the IT industry in Japan. Total loss to shareholders of 27% over the past three years. Aankondiging • Jan 03
BASE,Inc. to Report Fiscal Year 2024 Results on Feb 14, 2025 BASE,Inc. announced that they will report fiscal year 2024 results on Feb 14, 2025 Major Estimate Revision • Dec 21
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥15.4b to JP¥15.8b. EPS estimate increased from JP¥4.88 to JP¥5.37 per share. Net income forecast to grow 70% next year vs 16% growth forecast for IT industry in Japan. Consensus price target up from JP¥285 to JP¥300. Share price fell 8.7% to JP¥306 over the past week. Price Target Changed • Nov 30
Price target increased by 16% to JP¥285 Up from JP¥245, the current price target is an average from 2 analysts. New target price is 16% below last closing price of JP¥341. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥5.09 next year compared to a net loss per share of JP¥5.30 last year. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥306, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 20x in the IT industry in Japan. Total loss to shareholders of 60% over the past three years. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: JP¥2.04 (vs JP¥1.24 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥2.04 (up from JP¥1.24 loss in 3Q 2023). Revenue: JP¥3.97b (up 34% from 3Q 2023). Net income: JP¥236.0m (up JP¥378.0m from 3Q 2023). Profit margin: 5.9% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 12
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥15.7b to JP¥15.4b. EPS estimate also fell from JP¥6.05 per share to JP¥5.15 per share. Net income forecast to grow 264% next year vs 16% growth forecast for IT industry in Japan. Consensus price target down from JP¥275 to JP¥245. Share price was steady at JP¥237 over the past week. Aankondiging • Oct 02
BASE,Inc. to Report Q3, 2024 Results on Nov 06, 2024 BASE,Inc. announced that they will report Q3, 2024 results on Nov 06, 2024 Price Target Changed • Sep 12
Price target decreased by 16% to JP¥275 Down from JP¥327, the current price target is an average from 2 analysts. New target price is 11% above last closing price of JP¥248. Stock is down 27% over the past year. The company is forecast to post earnings per share of JP¥4.30 next year compared to a net loss per share of JP¥5.30 last year. Major Estimate Revision • Aug 15
Consensus EPS estimates have been upgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥15.2b to JP¥15.8b. Forecast to become profitable, with EPS estimate increasing from -JP¥0.98 to JP¥4.30 per share. IT industry in Japan expected to see average net income growth of 16% next year. Consensus price target down from JP¥327 to JP¥317. Share price was steady at JP¥228 over the past week. Price Target Changed • Aug 13
Price target decreased by 9.5% to JP¥317 Down from JP¥350, the current price target is an average from 3 analysts. New target price is 41% above last closing price of JP¥224. Stock is down 38% over the past year. The company is forecast to post a net loss per share of JP¥0.98 next year compared to a net loss per share of JP¥5.30 last year. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: JP¥2.06 (vs JP¥0.12 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥2.06 (up from JP¥0.12 loss in 2Q 2023). Revenue: JP¥3.73b (up 31% from 2Q 2023). Net income: JP¥238.0m (up JP¥252.0m from 2Q 2023). Profit margin: 6.4% (up from net loss in 2Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. New Risk • Aug 09
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Aankondiging • Aug 08
BASE,Inc. (TSE:4477) agreed to acquire want.jp from Kim Tae-sung and others for approximately ¥750 million. BASE,Inc. (TSE:4477) agreed to acquire want.jp from Kim Tae-sung, YJ2 Investment Partnership managed by Z Venture Capital Co., Ltd., Globis Fund VI-S, L.P. and Globis Fund VI, L.P. managed by Globis Capital Partners Co., Ltd., Fashion & Technology No.1 Investment Enterprise Partnership managed by Miyabi Ventures and MSIVC2016V Fund managed by Mitsui Sumitomo Insurance Venture Capital Co., Ltd., for approximately ¥750 million on August 6, 2024. A cash consideration of ¥754.5 million will be paid by BASE,Inc. As part of consideration, ¥754.5 million is paid towards common equity of want.jp.
For the period ending December 31, 2023, want.jp reported total revenue of ¥1.94 billion and EBIT of ¥423 million. As of December 31, 2023, want.jp reported total assets of ¥618 million and net liabilities of ¥452 million.
The expected completion of the transaction is February 1, 2028 to February 29, 2028. New Risk • Aug 05
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 8.3% 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. This is currently the only risk that has been identified for the company. Aankondiging • Jul 04
BASE, Inc Launches Drop-Shipping Function for the First Time in Japan BASE Inc. announced it will launch this summer the "Sales Partner App" the first drop-shipping function for online shop creation services in Japan. This function enables shops that use "BASE" to collaborate on consignment sales. By connecting "supplier's shops" that excel in goods production with "seller's shops" that excel in sales, each shop can concentrate on goods production and sales promotions respectively. Prior to the release of the App this summer, it launched preliminary functions on July 4, 2024, which enable "supplier's shops" to register their goods to be sold on consignment, and "seller's shop" to apply for consignment sales. The "Sales Partner App" is one of the "BASE Apps", extended functions provided to online shops using "BASE," that enables drop-shipping between shops using "BASE". Drop-shipping allows online shops to operate without carrying inventory. The "Sales Partner App" connects "supplier's shops" that produce goods with "seller's shops", enabling "seller's shops" to sell the goods of "supplier's shops" without carrying inventory. Since a "supplier's shop" handles the production, inventory management, and shipping of goods, the company recommend those who are good at attracting customers and sales promotions to open a shop as a "seller's shop". First, it will provide partial functionality up to the listing and linkage functions, but it plan to provide full functionality+ by the end of this summer. The "Sales Partner App" will be updated with new functions to solve the problems of both "supplier's shops" and "seller's shops". Preliminary launch date: July 4, 2024 Full function available date: by the end of summer Available for: Online shops using BASE. Features of the Sales Partner App 1, "BASE" has the No. 1 track record (1) in opening online shops, so one can build a network with a wide variety of shops. App usage fees charged to "supplier's shops" are only when goods are sold. They can leave customer attraction and sales promotion to "seller's shop" with no fixed costs. Since the role of a "seller's shop" is to sell, there is no need to purchase goods, manage inventory, or ship goods. It is possible to earn rewards when goods are sold, making it smooth for influencers to open seller's shops. Aankondiging • Jun 28
BASE,Inc. to Report Q2, 2024 Results on Aug 06, 2024 BASE,Inc. announced that they will report Q2, 2024 results on Aug 06, 2024 Breakeven Date Change • Jun 13
Forecast breakeven date moved forward to 2024 The 4 analysts covering BASEInc previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of JP¥153.0m in 2024. Earnings growth of 86% is required to achieve expected profit on schedule. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: JP¥1.85 (vs JP¥3.14 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥1.85 (up from JP¥3.14 loss in 1Q 2023). Revenue: JP¥3.59b (up 43% from 1Q 2023). Net income: JP¥213.0m (up JP¥571.0m from 1Q 2023). Profit margin: 5.9% (up from net loss in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Aankondiging • May 10
BASE,Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2024 BASE Inc. provided consolidated earnings guidance for the fiscal year ending December 31, 2024. For the year, the company expects net sales to be JPY 14,700 million, profit attributable to owners of parent of JPY 7 million and earnings per share of JPY 0.06. Aankondiging • Mar 28
BASE, Inc. to Report Q1, 2024 Results on May 09, 2024 BASE, Inc. announced that they will report Q1, 2024 results on May 09, 2024 Major Estimate Revision • Feb 27
Consensus estimates of losses per share improve by 69% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥14.1b to JP¥14.2b. EPS estimate increased from -JP¥0.477 per share to -JP¥0.15 per share. IT industry in Japan expected to see average net income growth of 18% next year. Consensus price target broadly unchanged at JP¥383. Share price rose 2.7% to JP¥345 over the past week. Reported Earnings • Feb 10
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: JP¥5.30 loss per share (improved from JP¥15.46 loss in FY 2022). Revenue: JP¥11.7b (up 20% from FY 2022). Net loss: JP¥606.0m (loss narrowed 65% from FY 2022). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has fallen by 48% per year and the company’s share price has also fallen by 48% per year. Price Target Changed • Feb 09
Price target increased by 7.8% to JP¥380 Up from JP¥353, the current price target is an average from 3 analysts. New target price is 12% above last closing price of JP¥340. Stock is up 19% over the past year. The company is forecast to post a net loss per share of JP¥10.07 next year compared to a net loss per share of JP¥15.46 last year. Major Estimate Revision • Feb 09
Consensus EPS estimates upgraded to JP¥2.61 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -JP¥3.30 to -JP¥2.61 per share. Revenue forecast unchanged from JP¥13.7b at last update. IT industry in Japan expected to see average net income growth of 18% next year. Consensus price target of JP¥363 unchanged from last update. Share price rose 9.7% to JP¥340 over the past week. Aankondiging • Feb 08
BASE, Inc., Annual General Meeting, Mar 26, 2024 BASE, Inc., Annual General Meeting, Mar 26, 2024. Aankondiging • Dec 28
BASE, Inc. to Report Fiscal Year 2023 Results on Feb 08, 2024 BASE, Inc. announced that they will report fiscal year 2023 results on Feb 08, 2024 Aankondiging • Dec 06
BASE, Inc. Launches Three New AI Functions BASE, Inc. announce the December 6, 2023 release of three new AI functions for BASE, the company's online shop creation service: SNS AutoPost, AutoReply, and AutoDesign. 1. SNS AutoPost: AI generates precisely targeted sentences and hash tags based on registered product information (shop category, product name, and product description). 2. AutoReply: AI takes the content of inquires received from customers and suggests what to write in response. This reduces the workload involved when considering the response, such as pulling up the order status or drafting the text. 3. AutoDesign: By simply selecting what product categories plan to sell and the atmosphere of the shop, AI will suggest an original shop design. It can also find images that can be used for commercial purposes and make copywriting suggestions. New Risk • Nov 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Nov 08
Third quarter 2023 earnings released: JP¥1.24 loss per share (vs JP¥2.63 loss in 3Q 2022) Third quarter 2023 results: JP¥1.24 loss per share (improved from JP¥2.63 loss in 3Q 2022). Revenue: JP¥2.98b (up 30% from 3Q 2022). Net loss: JP¥142.0m (loss narrowed 52% from 3Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 23 percentage points per year, which is a significant difference in performance. Aankondiging • Nov 07
BASE, Inc. Announces Pricing Update of the Monthly-Fee Plan & Significantly Expanded New Features BASE, Inc. announced pricing update of the Monthly-Fee Plan of "BASE" from January 16, 2024. "BASE" is providing two pricing plans, the No Monthly Cost Plan and the Monthly-Fee Plan. Customers can select an appropriate plan based on the scale of the sales of their shop. Customers can use all of the functions with either of the plans. No Monthly Cost Plan. This is a plan under which no fixed costs such as the initial cost and monthly cost, etc. are charged and fees are incurred only when the products are sold. It can be used for settlement fees of 3.6% + 40 JPY and a service usage fee of 3%. Monthly-Fee Plan. This is a plan to further boost the growth of shops whose sales have already grown. It can be used for Settlement fees of 2.9% (1), the cheapest level in the industry. This is calculated using the Monthly-Fee Plan (in the case of annual payment equivalent to 16,580 JPY/month) and settlement fees of 2.9%. The No Monthly Cost Plan offers settlement fees of 3. 6% + 40 JPY, so the fees vary depending on the number of orders. This is calculated using the monthly-Fee Plan (in The case of annual payment equivalent to16,580 JPY/month). In the case of comparisons with the plans in other companies providing an online shop opening service with a provision target and content like the Monthly-Fee Plan provided by "BASE" and with the minimum settlement fees announced by other companies. As of November 1, 2023. In order to support the growth of shop owners even more, "BASE" plans to sequentially provide new functions and update existing functions, including new functions to promote the streamlining of operations through automation using AI from early December, the update of CRM functions with the objective of enhancing customer loyalty, and others. New Functions. The company plan to provide functions concerning AI in early December. Following on from the function to support the generation of written product explanations with AI which the company commenced providing in April 2023, the company will provide a further three functions which alleviate the operational burden of operations. The company plan to provide the Overseas Sales Agency App in late December. The company will provide functions to support the acceptance of orders from overseas, deliveries, and responses to inquiries in order to enable shop owners who want to take on the challenge of cross-border e-commerce to sell their products overseas without increasing their operational burden. The company plan to provide The Sales Partner App next spring. This is a function which can match product sales partners among the shops using "BASE." It can match shop owners who are good at creating products with shop owners who are good at selling products, and provides a mechanism which leads to expanded sales by enabling shops who have become partners to sell the products as well. Update of Existing Functions. The company plan to update the Shipping Cost Detailed Settings App in early December. In addition to the function which can set the shipping cost based on the delivery region and the purchased products, the company plan to add a function which enables compilation of the shipping cost for each temperature zone, namely room temperature, refrigerated, and frozen, and a function which enables the setting of the shipping cost based on the number and weight of the products. The company plan to updated the Membership App next spring. Through the function which enables the shops to make their own membership programs, the company plan to introduce a function which enables the rewards offered by the shops and the points collected by the customers to be exchanged at the time an order is placed. The company plan to develop. Since this pricing update is effective on this pricing update is effective on the company plans to develop. Major Estimate Revision • Sep 21
Consensus EPS estimates upgraded to JP¥11.58 loss, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from JP¥11.2b to JP¥11.0b. 2023 losses expected to reduce from -JP¥13.20 to -JP¥11.58 per share. IT industry in Japan expected to see average net income growth of 17% next year. Consensus price target down from JP¥353 to JP¥333. Share price fell 8.5% to JP¥312 over the past week. Aankondiging • Sep 01
BASE, Inc. to Report Q3, 2023 Results on Nov 07, 2023 BASE, Inc. announced that they will report Q3, 2023 results on Nov 07, 2023 New Risk • Aug 05
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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (JP¥79m net loss in 3 years). Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Aug 04
Second quarter 2023 earnings released: JP¥0.12 loss per share (vs JP¥5.56 loss in 2Q 2022) Second quarter 2023 results: JP¥0.12 loss per share (improved from JP¥5.56 loss in 2Q 2022). Revenue: JP¥2.84b (up 24% from 2Q 2022). Net loss: JP¥14.0m (loss narrowed 98% from 2Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 16
Price target decreased by 18% to JP¥353 Down from JP¥428, the current price target is an average from 4 analysts. New target price is 32% above last closing price of JP¥267. Stock is down 12% over the past year. The company is forecast to post a net loss per share of JP¥14.63 next year compared to a net loss per share of JP¥15.46 last year. Aankondiging • May 31
BASE, Inc. to Report Q2, 2023 Results on Aug 03, 2023 BASE, Inc. announced that they will report Q2, 2023 results on Aug 03, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: JP¥3.14 loss per share (vs JP¥2.68 loss in 1Q 2022) First quarter 2023 results: JP¥3.14 loss per share (further deteriorated from JP¥2.68 loss in 1Q 2022). Revenue: JP¥2.52b (flat on 1Q 2022). Net loss: JP¥358.0m (loss widened 20% from 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: JP¥15.46 loss per share (further deteriorated from JP¥10.80 loss in FY 2021). Revenue: JP¥9.74b (down 1.9% from FY 2021). Net loss: JP¥1.73b (loss widened 45% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 10
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: JP¥15.46 loss per share (further deteriorated from JP¥10.80 loss in FY 2021). Revenue: JP¥9.74b (down 1.9% from FY 2021). Net loss: JP¥1.73b (loss widened 45% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Aankondiging • Jan 07
BASE, Inc. to Report Fiscal Year 2022 Results on Feb 08, 2023 BASE, Inc. announced that they will report fiscal year 2022 results on Feb 08, 2023 Price Target Changed • Nov 16
Price target decreased to JP¥445 Down from JP¥498, the current price target is an average from 4 analysts. New target price is 35% above last closing price of JP¥330. Stock is down 62% over the past year. The company is forecast to post a net loss per share of JP¥20.97 next year compared to a net loss per share of JP¥10.80 last year. Price Target Changed • Nov 13
Price target decreased to JP¥462 Down from JP¥498, the current price target is an average from 5 analysts. New target price is 43% above last closing price of JP¥323. Stock is down 61% over the past year. The company is forecast to post a net loss per share of JP¥21.25 next year compared to a net loss per share of JP¥10.80 last year. Reported Earnings • Nov 10
Third quarter 2022 earnings released: JP¥2.63 loss per share (vs JP¥1.99 loss in 3Q 2021) Third quarter 2022 results: JP¥2.63 loss per share (further deteriorated from JP¥1.99 loss in 3Q 2021). Revenue: JP¥2.29b (down 8.0% from 3Q 2021). Net loss: JP¥295.0m (loss widened 34% from 3Q 2021). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Aankondiging • Nov 09
BASE, Inc. Provides Consolidated Earnings Forecast for the Fiscal Year Ending December 31, 2022 BASE, Inc. provided consolidated earnings forecast for the fiscal year ending December 31, 2022. The company expected net sales of JPY 9,130 million to JPY 9,490 million, ordinary loss to be JPY 2,290 million to JPY 2,120 million. Net loss Attributable to Owners of Parent to be JPY 2,369 million to JPY 2,199 million or LPS to be JPY 20.60 to JPY 19.17. Aankondiging • Sep 29
BASE, Inc. to Report Q3, 2022 Results on Nov 08, 2022 BASE, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022 Price Target Changed • Sep 13
Price target decreased to JP¥506 Down from JP¥742, the current price target is an average from 6 analysts. New target price is 59% above last closing price of JP¥318. Stock is down 76% over the past year. The company is forecast to post a net loss per share of JP¥21.72 next year compared to a net loss per share of JP¥10.80 last year. Reported Earnings • Aug 05
Second quarter 2022 earnings released: JP¥5.56 loss per share (vs JP¥1.44 loss in 2Q 2021) Second quarter 2022 results: JP¥5.56 loss per share (down from JP¥1.44 loss in 2Q 2021). Revenue: JP¥2.30b (down 6.2% from 2Q 2021). Net loss: JP¥622.0m (loss widened 118% from 2Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 11% growth forecast for the industry in Japan. Major Estimate Revision • Jul 22
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥11.2b to JP¥10.6b. Losses expected to increase from JP¥18.00 per share to JP¥22.31. IT industry in Japan expected to see average net income growth of 13% next year. Consensus price target down from JP¥1,002 to JP¥776. Share price rose 8.5% to JP¥370 over the past week. Price Target Changed • Jun 18
Price target increased to JP¥1,002 Up from JP¥917, the current price target is an average from 6 analysts. New target price is 229% above last closing price of JP¥305. Stock is down 82% over the past year. The company is forecast to post a net loss per share of JP¥18.00 next year compared to a net loss per share of JP¥10.80 last year. Major Estimate Revision • Jun 16
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥11.7b to JP¥11.2b. Losses expected to increase from JP¥15.69 per share to JP¥18.92. IT industry in Japan expected to see average net income growth of 14% next year. Consensus price target broadly unchanged at JP¥915. Share price fell 15% to JP¥311 over the past week. Aankondiging • May 29
BASE, Inc. to Report Q2, 2022 Results on Aug 04, 2022 BASE, Inc. announced that they will report Q2, 2022 results on Aug 04, 2022 Major Estimate Revision • May 19
Consensus estimates of losses per share improve by 29% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥11.3b to JP¥11.7b. EPS estimate increased from -JP¥21.98 per share to -JP¥15.71 per share. IT industry in Japan expected to see average net income growth of 12% next year. Consensus price target broadly unchanged at JP¥958. Share price rose 38% to JP¥408 over the past week. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: JP¥2.68 loss per share (down from JP¥1.82 profit in 1Q 2021). Revenue: JP¥2.51b (up 12% from 1Q 2021). Net loss: JP¥299.0m (down JP¥339.0m from profit in 1Q 2021). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 32%. Over the next year, revenue is forecast to grow 21%, compared to a 8.2% growth forecast for the industry in Japan. Price Target Changed • Apr 27
Price target decreased to JP¥970 Down from JP¥1,053, the current price target is an average from 7 analysts. New target price is 169% above last closing price of JP¥361. Stock is down 80% over the past year. The company is forecast to post a net loss per share of JP¥21.98 next year compared to a net loss per share of JP¥10.80 last year. Aankondiging • Apr 08
BASE, Inc. to Report Q1, 2022 Results on May 12, 2022 BASE, Inc. announced that they will report Q1, 2022 results on May 12, 2022 Major Estimate Revision • Mar 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -JP¥16.27 to -JP¥18.38 per share. Revenue forecast unchanged at JP¥11.6b. IT industry in Japan expected to see average net income growth of 11% next year. Consensus price target of JP¥1,053 unchanged from last update. Share price rose 7.8% to JP¥416 over the past week. Price Target Changed • Feb 16
Price target decreased to JP¥1,053 Down from JP¥1,532, the current price target is an average from 7 analysts. New target price is 179% above last closing price of JP¥378. Stock is down 86% over the past year. The company is forecast to post a net loss per share of JP¥8.31 next year compared to a net loss per share of JP¥10.80 last year. Major Estimate Revision • Feb 16
Consensus EPS estimates fall by 73% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥12.7b to JP¥11.7b. Losses expected to increase from JP¥4.80 per share to JP¥8.31. IT industry in Japan expected to see average net income growth of 11% next year. Consensus price target down from JP¥1,532 to JP¥1,053. Share price fell 14% to JP¥378 over the past week. Reported Earnings • Feb 10
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: JP¥10.80 loss per share (down from JP¥5.63 profit in FY 2020). Revenue: JP¥9.93b (up 20% from FY 2020). Net loss: JP¥1.19b (down 305% from profit in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 32%. Over the next year, revenue is forecast to grow 24%, compared to a 7.4% growth forecast for the industry in Japan. Aankondiging • Feb 09
BASE, Inc., Annual General Meeting, Mar 23, 2022 BASE, Inc., Annual General Meeting, Mar 23, 2022. Agenda: To consider proposal for Partial Amendment to the Articles of Incorporation; to consider Reduction in the Amount of Capital Reserve; to consider the management structure for the 10th fiscal year, taking into account the recommendations of the Nomination and Remuneration Committee (Advisory Committee); to revise the amount of remuneration for Auditors. Price Target Changed • Nov 09
Price target decreased to JP¥1,582 Down from JP¥1,732, the current price target is an average from 6 analysts. New target price is 86% above last closing price of JP¥851. Stock is down 61% over the past year. The company is forecast to post a net loss per share of JP¥7.83 compared to earnings per share of JP¥5.63 last year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: JP¥1.99 loss per share (vs JP¥4.36 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: JP¥2.49b (up 7.6% from 3Q 2020). Net loss: JP¥221.0m (down 150% from profit in 3Q 2020). Price Target Changed • Aug 23
Price target decreased to JP¥1,712 Down from JP¥1,968, the current price target is an average from 5 analysts. New target price is 52% above last closing price of JP¥1,130. Stock is down 40% over the past year. Reported Earnings • Aug 06
Second quarter 2021 earnings released: JP¥1.44 loss per share (vs JP¥5.21 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: JP¥2.45b (down 4.3% from 2Q 2020). Net loss: JP¥286.0m (down 154% from profit in 2Q 2020).