New Risk • Apr 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 93% Dividend yield: 4.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by cash flows (93% cash payout ratio). Market cap is less than US$100m (JP¥6.50b market cap, or US$40.8m). Reported Earnings • Apr 23
Full year 2026 earnings released: EPS: JP¥259 (vs JP¥210 in FY 2025) Full year 2026 results: EPS: JP¥259 (up from JP¥210 in FY 2025). Revenue: JP¥8.66b (up 13% from FY 2025). Net income: JP¥601.0m (up 24% from FY 2025). Profit margin: 6.9% (up from 6.3% in FY 2025). The increase in margin was driven by higher revenue. Aankondiging • Apr 22
O.B.System Inc., Annual General Meeting, Jun 19, 2026 O.B.System Inc., Annual General Meeting, Jun 19, 2026. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,065, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 15x in the IT industry in Japan. Total returns to shareholders of 29% over the past year. Buy Or Sell Opportunity • Apr 16
Now 23% overvalued Over the last 90 days, the stock has fallen 8.3% to JP¥2,719. The fair value is estimated to be JP¥2,207, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Mar 25
Now 20% overvalued Over the last 90 days, the stock has fallen 9.0% to JP¥2,635. The fair value is estimated to be JP¥2,189, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 June 2026. Payout ratio is a comfortable 40% and the cash payout ratio is 82%. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Buy Or Sell Opportunity • Mar 10
Now 22% overvalued Over the last 90 days, the stock has fallen 6.6% to JP¥2,635. The fair value is estimated to be JP¥2,161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Feb 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.2% to JP¥2,827. The fair value is estimated to be JP¥2,339, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Jan 24
Third quarter 2026 earnings released: EPS: JP¥71.41 (vs JP¥61.60 in 3Q 2025) Third quarter 2026 results: EPS: JP¥71.41 (up from JP¥61.60 in 3Q 2025). Revenue: JP¥2.26b (up 13% from 3Q 2025). Net income: JP¥166.0m (up 17% from 3Q 2025). Profit margin: 7.3% (up from 7.1% in 3Q 2025). The increase in margin was driven by higher revenue. Aankondiging • Nov 29
O.B.System Inc. to Report Q3, 2026 Results on Jan 23, 2026 O.B.System Inc. announced that they will report Q3, 2026 results on Jan 23, 2026 Reported Earnings • Oct 23
Second quarter 2026 earnings released: EPS: JP¥63.10 (vs JP¥61.60 in 2Q 2025) Second quarter 2026 results: EPS: JP¥63.10 (up from JP¥61.60 in 2Q 2025). Revenue: JP¥2.15b (up 6.9% from 2Q 2025). Net income: JP¥146.0m (up 2.8% from 2Q 2025). Profit margin: 6.8% (down from 7.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Aankondiging • Sep 01
O.B.System Inc. to Report Q2, 2026 Results on Oct 22, 2025 O.B.System Inc. announced that they will report Q2, 2026 results on Oct 22, 2025 Reported Earnings • Jul 25
First quarter 2026 earnings released: EPS: JP¥28.63 (vs JP¥61.60 in 1Q 2025) First quarter 2026 results: EPS: JP¥28.63 (down from JP¥61.60 in 1Q 2025). Revenue: JP¥1.75b (down 13% from 1Q 2025). Net income: JP¥66.0m (down 54% from 1Q 2025). Profit margin: 3.8% (down from 7.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Buy Or Sell Opportunity • Jul 02
Now 21% undervalued Over the last 90 days, the stock has risen 19% to JP¥2,835. The fair value is estimated to be JP¥3,597, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Aankondiging • Jun 27
O.B.System Inc. to Report Q1, 2026 Results on Jul 23, 2025 O.B.System Inc. announced that they will report Q1, 2026 results on Jul 23, 2025 Aankondiging • May 01
O.B.System Inc. (TSE:5576) acquired Greencat Co.,Ltd. from Osamu Ohashi, Atsushi Shihara and Masakazu Akazawa for ¥700 million. O.B.System Inc. (TSE:5576) agreed to acquire Greencat Co.,Ltd. from Osamu Ohashi, Atsushi Shihara and Masakazu Akazawa on March 24, 2025.
For the period ending April 30, 2024, Greencat Co.,Ltd. reported total revenue of ¥1.3 billion, EBIT of ¥69 million and net income of ¥15 million. As of April 30, 2024, Greencat Co.,Ltd. reported total assets of ¥553 million and total common equity of ¥168 million.
The expected completion of the transaction is May 1, 2025.
O.B.System Inc. (TSE:5576) completed the acquisition of Greencat Co.,Ltd. from Osamu Ohashi, Atsushi Shihara and Masakazu Akazawa for ¥700 million on May 1, 2025. Aankondiging • Apr 23
O.B.System Inc., Annual General Meeting, Jun 19, 2025 O.B.System Inc., Annual General Meeting, Jun 19, 2025. New Risk • Apr 23
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥5.68b market cap, or US$40.0m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,012, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 8.5% over the past year. Aankondiging • Mar 25
O.B.System Inc. (TSE:5576) agreed to acquire Greencat Co.,Ltd. from Osamu Ohashi, Atsushi Shihara and Masakazu Akazawa. O.B.System Inc. (TSE:5576) agreed to acquire Greencat Co.,Ltd. from Osamu Ohashi, Atsushi Shihara and Masakazu Akazawa on March 24, 2025.
For the period ending April 30, 2024, Greencat Co.,Ltd. reported total revenue of ¥1.3 billion, EBIT of ¥69 million and net income of ¥15 million. As of April 30, 2024, Greencat Co.,Ltd. reported total assets of ¥553 million and total common equity of ¥168 million.
The expected completion of the transaction is May 1, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Aankondiging • Mar 01
O.B.System Inc. to Report Fiscal Year 2025 Results on Apr 23, 2025 O.B.System Inc. announced that they will report fiscal year 2025 results on Apr 23, 2025 Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: JP¥52.92 (vs JP¥57.79 in 3Q 2024) Third quarter 2025 results: EPS: JP¥52.92 (down from JP¥57.79 in 3Q 2024). Revenue: JP¥1.92b (up 9.8% from 3Q 2024). Net income: JP¥122.0m (down 10% from 3Q 2024). Profit margin: 6.3% (down from 7.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Aankondiging • Nov 30
O.B.System Inc. to Report Q3, 2025 Results on Feb 10, 2025 O.B.System Inc. announced that they will report Q3, 2025 results on Feb 10, 2025 Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: JP¥56.83 (vs JP¥57.79 in 2Q 2024) Second quarter 2025 results: EPS: JP¥56.83 (down from JP¥57.79 in 2Q 2024). Revenue: JP¥1.93b (up 10% from 2Q 2024). Net income: JP¥131.0m (down 3.7% from 2Q 2024). Profit margin: 6.8% (down from 7.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. The average dividend yield among industry peers is 1.4%. Aankondiging • Aug 27
O.B.System Inc. to Report Q2, 2025 Results on Oct 24, 2024 O.B.System Inc. announced that they will report Q2, 2025 results on Oct 24, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥39.10 (vs JP¥116 in 1Q 2024) First quarter 2025 results: EPS: JP¥39.10 (down from JP¥116 in 1Q 2024). Revenue: JP¥1.83b (up 13% from 1Q 2024). Net income: JP¥90.0m (down 63% from 1Q 2024). Profit margin: 4.9% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,852, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 13% over the past year. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥193 (vs JP¥239 in FY 2023) Full year 2024 results: EPS: JP¥193 (down from JP¥239 in FY 2023). Revenue: JP¥6.90b (up 12% from FY 2023). Net income: JP¥441.0m (down 11% from FY 2023). Profit margin: 6.4% (down from 8.1% in FY 2023). The decrease in margin was driven by higher expenses. Aankondiging • Jun 14
O.B.System Inc. to Report Q1, 2025 Results on Aug 08, 2024 O.B.System Inc. announced that they will report Q1, 2025 results on Aug 08, 2024 Aankondiging • Apr 25
O.B.System Inc., Annual General Meeting, Jun 20, 2024 O.B.System Inc., Annual General Meeting, Jun 20, 2024. Aankondiging • Apr 02
O.B.System Inc. (TSE:5576) completed the acquisition of Human & Technology Co., Ltd. from Shinya Watanabe and others for ¥500 million. O.B.System Inc. (TSE:5576) agreed to acquire Human & Technology Co., Ltd. from Shinya Watanabe and others on March 15, 2024. As of 2023, Human & Technology Co., Ltd. generated net assets of 143 million, total assets of 181 million, sales of 242 million, operating income of 45 million, and net income of 34 million. The transaction is expected to close on April 1, 2024.
O.B.System Inc. (TSE:5576) completed the acquisition of Human & Technology Co., Ltd. from Shinya Watanabe and others for ¥500 million on April 1, 2024. Aankondiging • Mar 02
O.B.System Inc. to Report Fiscal Year 2024 Results on Apr 22, 2024 O.B.System Inc. announced that they will report fiscal year 2024 results on Apr 22, 2024 Buy Or Sell Opportunity • Feb 07
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to JP¥2,664. The fair value is estimated to be JP¥2,164, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 24%. New Risk • Jan 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (66% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (JP¥5.45b market cap, or US$37.6m). Aankondiging • Dec 02
O.B.System Inc. to Report Q3, 2024 Results on Jan 23, 2024 O.B.System Inc. announced that they will report Q3, 2024 results on Jan 23, 2024 Aankondiging • Aug 27
O.B.System Inc. to Report Q2, 2024 Results on Oct 24, 2023 O.B.System Inc. announced that they will report Q2, 2024 results on Oct 24, 2023 Aankondiging • Jun 28
O.B.System Inc. to Report Q1, 2024 Results on Jul 20, 2023 O.B.System Inc. announced that they will report Q1, 2024 results on Jul 20, 2023 Aankondiging • Jun 23
O.B.System Inc. has completed an IPO in the amount of ¥1.026 billion. O.B.System Inc. has completed an IPO in the amount of ¥1.026 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 600,000
Price\Range: ¥1710
Discount Per Security: ¥136.8 Board Change • Jun 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Outside Director Keiko Horino was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.