Board Change • May 31
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (6 non-independent directors). Non-Executive Chairman of the Board Toru Kuwano is the most experienced director on the board, commencing their role in 2000. Independent Outside Director Mitsuhiro Furusawa was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • Jan 24
TIS Inc. (TSE:3626) acquired NTQ Solution JSC. TIS Inc. (TSE:3626) acquired NTQ Solution JSC on December 24, 2024. Naomichi Nosaka and Kensuke Nakatsuka of Lincoln International acted as financial advisor to TIS Inc.
TIS Inc. (TSE:3626) completed the acquisition of NTQ Solution JSC on December 24, 2024. Aankondiging • Dec 25
TIS Inc. to Report Q3, 2025 Results on Feb 04, 2025 TIS Inc. announced that they will report Q3, 2025 results on Feb 04, 2025 Aankondiging • Sep 25
TIS Inc. to Report First Half, 2025 Results on Oct 31, 2024 TIS Inc. announced that they will report first half, 2025 results on Oct 31, 2024 Aankondiging • Jun 25
TIS Inc. to Report Q1, 2025 Results on Jul 30, 2024 TIS Inc. announced that they will report Q1, 2025 results on Jul 30, 2024 Aankondiging • May 10
TIS Inc., Annual General Meeting, Jun 25, 2024 TIS Inc., Annual General Meeting, Jun 25, 2024. Aankondiging • May 09
TIS Inc. (TSE:3626) announces an Equity Buyback for 2,500,000 shares, representing 1.06% for ¥6,500 million. TIS Inc. (TSE:3626) announces a share repurchase program. Under the program, the company will repurchase 2,500,000 shares, representing 1.06% of the outstanding shares for ¥6,200 million. The purpose of the program is to implement agile capital policies that flexibly respond to changes in the business environment and improve shareholder profits and capital efficiency. The program will run until July 31, 2024. As of March 31, 2024, the company had 236,232,177 shares outstanding (excluding treasury stock) and 1,234 shares in treasury. Aankondiging • Apr 13
TIS Inc. (TSE:3626) agreed to acquire an unknown stake in Meeq Co., Ltd. TIS Inc. (TSE:3626) agreed to acquire an unknown stake in Meeq Co., Ltd. on April 12, 2024. Aankondiging • Mar 24
TIS Inc. to Report Fiscal Year 2024 Results on May 08, 2024 TIS Inc. announced that they will report fiscal year 2024 results on May 08, 2024 Aankondiging • Dec 23
TIS Inc. to Report Q3, 2024 Results on Feb 02, 2024 TIS Inc. announced that they will report Q3, 2024 results on Feb 02, 2024 Aankondiging • Sep 23
TIS Inc. to Report Q2, 2024 Results on Nov 01, 2023 TIS Inc. announced that they will report Q2, 2024 results on Nov 01, 2023 Aankondiging • Jun 21
TIS Inc. to Report Q1, 2024 Results on Aug 02, 2023 TIS Inc. announced that they will report Q1, 2024 results on Aug 02, 2023 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Mexican dividend payers (5.9%). Lower than average of industry peers (2.3%). Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: JP¥54.90 (vs JP¥55.67 in 3Q 2022) Third quarter 2023 results: EPS: JP¥54.90 (down from JP¥55.67 in 3Q 2022). Revenue: JP¥125.1b (up 5.3% from 3Q 2022). Net income: JP¥13.3b (down 4.1% from 3Q 2022). Profit margin: 11% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global IT industry. Aankondiging • Jan 29
TIS Inc. (TSE:3626) acquired Vector Management Consulting Pvt. Ltd. TIS Inc. (TSE:3626) acquired Vector Management Consulting Pvt. Ltd. on January 16, 2023. Tigmanshu Dubey, Tetsuya Fujii, Naomichi Nosaka and Sathya Ramanathan of Lincoln International acted as financial advisor to TIS Inc.TIS Inc. (TSE:3626) completed the acquisition of Vector Management Consulting Pvt. Ltd. on January 16, 2023. Aankondiging • Dec 23
TIS Inc. to Report Nine Months, 2023 Results on Feb 03, 2023 TIS Inc. announced that they will report nine months, 2023 results on Feb 03, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥41.28 (vs JP¥33.96 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.28 (up from JP¥33.96 in 2Q 2022). Revenue: JP¥127.2b (up 5.3% from 2Q 2022). Net income: JP¥10.1b (up 18% from 2Q 2022). Profit margin: 7.9% (up from 7.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the IT industry in South America. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: JP¥41.28 (vs JP¥33.96 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.28 (up from JP¥33.96 in 2Q 2022). Revenue: JP¥127.2b (up 5.3% from 2Q 2022). Net income: JP¥10.1b (up 18% from 2Q 2022). Profit margin: 7.9% (up from 7.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the IT industry in South America. Aankondiging • Sep 22
TIS Inc. to Report First Half, 2023 Results on Nov 02, 2022 TIS Inc. announced that they will report first half, 2023 results on Nov 02, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Mexican dividend payers (6.3%). Lower than average of industry peers (3.6%). Aankondiging • Sep 03
TIS Inc. (TSE:3626) acquired Fixel Co., Ltd. TIS Inc. (TSE:3626) acquired Fixel Co., Ltd. on September 1, 2022.
TIS Inc. (TSE:3626) completed the acquisition of Fixel Co., Ltd. on September 1, 2022. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥35.31 (vs JP¥27.92 in 1Q 2022) First quarter 2023 results: EPS: JP¥35.31 (up from JP¥27.92 in 1Q 2022). Revenue: JP¥118.1b (up 4.0% from 1Q 2022). Net income: JP¥8.76b (up 25% from 1Q 2022). Profit margin: 7.4% (up from 6.2% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.7%, compared to a 13% growth forecast for the industry in Mexico. Board Change • Jul 18
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 24
TIS Inc. to Report Q1, 2023 Results on Aug 04, 2022 TIS Inc. announced that they will report Q1, 2023 results on Aug 04, 2022 Board Change • May 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • May 13
TIS Inc. (TSE:3626) announces an Equity Buyback for 12,000,000 shares, representing 4.78% for ¥30,000 million. TIS Inc. (TSE:3626) announces a share repurchase program. Under the program, the company will repurchase 12,000,000 shares, representing 4.78% of the outstanding shares for ¥30,000 million. The purpose of the program is to implement agile capital policies that flexibly respond to changes in the business environment and improve shareholder profits and capital efficiency. The program will run until March 30, 2023. As of March 31, 2022, the company had 251,159,620 shares outstanding and 1,274 shares in treasury. Aankondiging • May 12
TIS Inc., Annual General Meeting, Jun 24, 2022 TIS Inc., Annual General Meeting, Jun 24, 2022. Board Change • Mar 29
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 21% share price decline to Mex$477, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the IT industry globally. Total returns to shareholders of 7.4% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Mex$520 per share. Board Change • Feb 24
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Second quarter 2022 earnings released: EPS JP¥33.96 (vs JP¥18.98 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥120.8b (up 8.9% from 2Q 2021). Net income: JP¥8.52b (up 79% from 2Q 2021). Profit margin: 7.1% (up from 4.3% in 2Q 2021). The increase in margin was driven by higher revenue. Board Change • Nov 12
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent External Director Suzuki Mizukoshi was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 17
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Independent External Director Naoko Mizukoshi was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 06
First quarter 2022 earnings released: EPS JP¥27.92 (vs JP¥22.02 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥113.5b (up 13% from 1Q 2021). Net income: JP¥7.00b (up 27% from 1Q 2021). Profit margin: 6.2% (up from 5.5% in 1Q 2021). The increase in margin was driven by higher revenue. Board Change • Jul 28
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Independent External Director Naoko Mizukoshi was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥111 (vs JP¥117 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥448.4b (up 1.1% from FY 2020). Net income: JP¥27.7b (down 5.8% from FY 2020). Profit margin: 6.2% (down from 6.6% in FY 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥511, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 25x in the IT industry globally. Simply Wall St's valuation model estimates the intrinsic value at Mex$381 per share. 
