Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥264, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Software industry in Japan. Total loss to shareholders of 31% over the past three years. Aankondiging • Jul 02
SmartDrive inc. to Report Q3, 2026 Results on Aug 13, 2026 SmartDrive inc. announced that they will report Q3, 2026 results on Aug 13, 2026 Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥214, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Software industry in Japan. Total loss to shareholders of 54% over the past three years. Aankondiging • Jun 17
SmartDrive inc. (TSE:5137) announces an Equity Buyback for 1,580,000 shares, representing 4.2% for ¥300 million. SmartDrive inc. (TSE:5137) announces a share repurchase program. Under the program, the company will repurchase up to 1,580,000 shares, representing 4.2% of its issued share capital, for ¥300 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and carry out flexible capital policies in response to changes in the business environment. The plan will be valid till July 16, 2026. As of June 16, 2026, the company had 37,632,852 issued shares (excluding treasury stock) and 326,628 treasury shares. Reported Earnings • May 19
Second quarter 2026 earnings released: EPS: JP¥3.25 (vs JP¥1.86 in 2Q 2025) Second quarter 2026 results: EPS: JP¥3.25 (up from JP¥1.86 in 2Q 2025). Revenue: JP¥855.0m (up 8.2% from 2Q 2025). Net income: JP¥122.0m (up 74% from 2Q 2025). Profit margin: 14% (up from 8.9% in 2Q 2025). Revenue is forecast to grow 33% 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 increased by 92% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. 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 11% 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 (11% average weekly change). Minor Risk Market cap is less than US$100m (JP¥8.46b market cap, or US$53.4m). Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥237, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Software industry in Japan. Total loss to shareholders of 41% over the past three years. New Risk • Mar 30
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 9.3% 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 (9.3% average weekly change). Minor Risk Market cap is less than US$100m (JP¥11.3b market cap, or US$70.8m). Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥329, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Software industry in Japan. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥309, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Software industry in Japan. Total loss to shareholders of 11% over the past three years. Reported Earnings • Feb 16
First quarter 2026 earnings released: EPS: JP¥1.84 (vs JP¥0.56 in 1Q 2025) First quarter 2026 results: EPS: JP¥1.84 (up from JP¥0.56 in 1Q 2025). Revenue: JP¥729.0m (up 14% from 1Q 2025). Net income: JP¥69.0m (up 229% from 1Q 2025). Profit margin: 9.5% (up from 3.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Aankondiging • Jan 30
SmartDrive inc. (TSE:5137) signed a Share Purchase Agreement to acquire remaining 79.17% stake in Inter zone Co., Ltd. from Kenji Kagamiyama and others for ¥1.4 billion. SmartDrive inc. (TSE:5137) signed a Share Purchase Agreement to acquire remaining 79.17% stake in Inter zone Co., Ltd. from Kenji Kagamiyama and others for ¥1.4 billion on January 29, 2026. A cash consideration of ¥1.39 billion will be paid by SmartDrive inc. Upon completion, SmartDrive inc. will own 100% stake in Inter zone Co., Ltd. For the period ending August 31, 2025, Inter zone Co., Ltd. reported total revenue of ¥1.78 billion, operating income of ¥211.49 million and net income of ¥166.71 million. As of August 31, 2025, Inter zone Co., Ltd. reported total assets of ¥1.2 billion and net assets of ¥811.91 million.
The transaction is expected to close on January 30, 2026. Reported Earnings • Dec 25
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: JP¥12.08 (up from JP¥7.12 in FY 2024). Revenue: JP¥2.88b (up 32% from FY 2024). Net income: JP¥453.0m (up 70% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 30% 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 115% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥422, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Software industry in Japan. Total returns to shareholders of 96% over the past three years. New Risk • Dec 19
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 8.0% 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 (8.0% average weekly change). Minor Risk Market cap is less than US$100m (JP¥13.5b market cap, or US$86.7m). Aankondiging • Dec 03
SmartDrive inc. to Report Q1, 2026 Results on Feb 13, 2026 SmartDrive inc. announced that they will report Q1, 2026 results on Feb 13, 2026 Reported Earnings • Nov 17
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: JP¥12.08 (up from JP¥7.12 in FY 2024). Revenue: JP¥2.88b (up 32% from FY 2024). Net income: JP¥453.0m (up 70% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Aankondiging • Nov 13
SmartDrive inc., Annual General Meeting, Dec 23, 2025 SmartDrive inc., Annual General Meeting, Dec 23, 2025. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥518, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 75% over the past year. Major Estimate Revision • Sep 09
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥10.49 to JP¥12.00. Revenue forecast steady at JP¥3.06b. Net income forecast to grow 86% next year vs 22% growth forecast for Software industry in Japan. Consensus price target of JP¥393 unchanged from last update. Share price fell 2.6% to JP¥496 over the past week. Aankondiging • Sep 02
SmartDrive inc. to Report Fiscal Year 2025 Results on Nov 13, 2025 SmartDrive inc. announced that they will report fiscal year 2025 results on Nov 13, 2025 Reported Earnings • Aug 15
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: JP¥681.0m (up 30% from 3Q 2024). Net income: JP¥66.0m (up 3.1% from 3Q 2024). Profit margin: 9.7% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Aankondiging • Aug 13
SmartDrive inc. (TSE:5137) agreed to acquire 20.8% stake in Inter zone Co., Ltd. for approximately ¥260 million. SmartDrive inc. (TSE:5137) agreed to acquire 20.8% stake in Inter zone Co., Ltd. for approximately ¥260 million on August 13, 2025. A cash consideration of ¥255 million will be paid by SmartDrive inc.
For the period ending August 31, 2024, Inter zone Co., Ltd. reported total revenue of ¥1.51 billion, EBIT of ¥157.36 million and net income of ¥123.6 million. As of August 31, 2024, Inter zone Co., Ltd. reported total assets of ¥1.04 billion and total common equity of ¥648.08 million.
The expected completion of the transaction is August 15, 2025. New Risk • Jul 08
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 6.6% 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 High level of non-cash earnings (71% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (JP¥14.2b market cap, or US$97.5m). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,539, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 25x in the Software industry in Japan. Total returns to shareholders of 44% over the past year. Aankondiging • Jun 03
SmartDrive inc. to Report Q3, 2025 Results on Aug 14, 2025 SmartDrive inc. announced that they will report Q3, 2025 results on Aug 14, 2025 Reported Earnings • May 19
Second quarter 2025 earnings released: EPS: JP¥11.18 (vs JP¥12.71 in 2Q 2024) Second quarter 2025 results: EPS: JP¥11.18 (down from JP¥12.71 in 2Q 2024). Revenue: JP¥790.0m (up 42% from 2Q 2024). Net income: JP¥70.0m (down 11% from 2Q 2024). Profit margin: 8.9% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,598, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Software industry in Japan. Total loss to shareholders of 3.7% over the past year. Aankondiging • Mar 05
SmartDrive inc. to Report Q2, 2025 Results on May 14, 2025 SmartDrive inc. announced that they will report Q2, 2025 results on May 14, 2025 Reported Earnings • Feb 15
First quarter 2025 earnings released: EPS: JP¥3.36 (vs JP¥1.77 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥3.36 (up from JP¥1.77 loss in 1Q 2024). Revenue: JP¥641.0m (up 25% from 1Q 2024). Net income: JP¥21.0m (up JP¥32.0m from 1Q 2024). Profit margin: 3.3% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Aankondiging • Feb 13
SmartDrive inc. (TSE:5137) announces an Equity Buyback for 70,000 shares, representing 1.12% for ¥100 million. SmartDrive inc. (TSE:5137) announces a share repurchase program. Under the program, the company will repurchase up to 70,000 shares, representing 1.12% of its issued share capital, for ¥100 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and carry out flexible capital policies in response to changes in the business environment. The plan will be valid till March 20, 2025. As of December 31, 2024, the company had 6,264,269 issued shares (excluding treasury stock) and 91 treasury shares. Aankondiging • Jan 17
SmartDrive inc. to Report Q1, 2025 Results on Feb 13, 2025 SmartDrive inc. announced that they will report Q1, 2025 results on Feb 13, 2025 Reported Earnings • Dec 31
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥42.72 (up from JP¥4.59 loss in FY 2023). Revenue: JP¥2.17b (up 27% from FY 2023). Net income: JP¥266.0m (up JP¥294.0m from FY 2023). Profit margin: 12% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Major Estimate Revision • Dec 27
Consensus EPS estimates fall by 32% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥3.42b to JP¥3.18b. EPS estimate also fell from JP¥96.00 per share to JP¥65.20 per share. Net income forecast to grow 53% next year vs 20% growth forecast for Software industry in Japan. Consensus price target broadly unchanged at JP¥2,360. Share price fell 4.7% to JP¥1,795 over the past week. Aankondiging • Nov 13
SmartDrive inc., Annual General Meeting, Dec 24, 2024 SmartDrive inc., Annual General Meeting, Dec 24, 2024. Aankondiging • Oct 06
SmartDrive inc. to Report Fiscal Year 2024 Results on Nov 13, 2024 SmartDrive inc. announced that they will report fiscal year 2024 results on Nov 13, 2024 Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,827, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Software industry in Japan. Total loss to shareholders of 29% over the past year. Reported Earnings • Aug 15
Third quarter 2024 earnings released: EPS: JP¥10.28 (vs JP¥0.81 in 3Q 2023) Third quarter 2024 results: EPS: JP¥10.28 (up from JP¥0.81 in 3Q 2023). Revenue: JP¥526.0m (up 20% from 3Q 2023). Net income: JP¥64.0m (up JP¥59.0m from 3Q 2023). Profit margin: 12% (up from 1.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Software industry in Japan. New Risk • Aug 02
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 7.9% 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 (7.9% average weekly change). Minor Risk Market cap is less than US$100m (JP¥10.6b market cap, or US$71.3m). Aankondiging • Jul 13
SmartDrive inc. to Report Q3, 2024 Results on Aug 13, 2024 SmartDrive inc. announced that they will report Q3, 2024 results on Aug 13, 2024 Major Estimate Revision • Jun 15
Consensus EPS estimates increase by 77% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥2.23b to JP¥2.43b. EPS estimate increased from JP¥21.60 to JP¥38.20 per share. Net income forecast to grow 345% next year vs 24% growth forecast for Software industry in Japan. Consensus price target down from JP¥2,620 to JP¥2,370. Share price rose 3.7% to JP¥1,846 over the past week. Reported Earnings • May 18
Second quarter 2024 earnings released: EPS: JP¥12.71 (vs JP¥0.81 in 2Q 2023) Second quarter 2024 results: EPS: JP¥12.71 (up from JP¥0.81 in 2Q 2023). Revenue: JP¥556.0m (up 27% from 2Q 2023). Net income: JP¥79.0m (up JP¥74.0m from 2Q 2023). Profit margin: 14% (up from 1.1% in 2Q 2023). The increase in margin was driven by higher 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. Aankondiging • Mar 07
SmartDrive inc. to Report Q2, 2024 Results on May 15, 2024 SmartDrive inc. announced that they will report Q2, 2024 results on May 15, 2024 Reported Earnings • Feb 16
First quarter 2024 earnings released: JP¥1.77 loss per share (vs JP¥12.81 loss in 1Q 2023) First quarter 2024 results: JP¥1.77 loss per share (improved from JP¥12.81 loss in 1Q 2023). Revenue: JP¥514.0m (up 42% from 1Q 2023). Net loss: JP¥11.0m (loss narrowed 85% from 1Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Aankondiging • Dec 28
SmartDrive inc. to Report Q1, 2024 Results on Feb 14, 2024 SmartDrive inc. announced that they will report Q1, 2024 results on Feb 14, 2024 Aankondiging • Nov 17
SmartDrive inc., Annual General Meeting, Dec 22, 2023 SmartDrive inc., Annual General Meeting, Dec 22, 2023. Aankondiging • Sep 07
SmartDrive inc. to Report Fiscal Year 2023 Results on Nov 14, 2023 SmartDrive inc. announced that they will report fiscal year 2023 results on Nov 14, 2023 New Risk • Aug 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.3b (US$98.4m) This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (JP¥14.3b market cap, or US$98.4m). Aankondiging • Jun 09
SmartDrive inc. to Report Q3, 2023 Results on Aug 15, 2023 SmartDrive inc. announced that they will report Q3, 2023 results on Aug 15, 2023 Aankondiging • Jan 19
SmartDrive inc. to Report Q1, 2023 Results on Feb 14, 2023 SmartDrive inc. announced that they will report Q1, 2023 results on Feb 14, 2023 Aankondiging • Dec 16
SmartDrive inc. has completed an IPO in the amount of ¥1.920468 billion. SmartDrive inc. has completed an IPO in the amount of ¥1.920468 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,454,900
Price\Range: ¥1320
Discount Per Security: ¥105.6
Transaction Features: Sponsor Backed Offering