Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to JP¥477, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 12x in the Professional Services industry in Japan. Total returns to shareholders of 47% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥3.29 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 03 September 2026. Payout ratio is a comfortable 56% and the cash payout ratio is 84%. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.1%). Price Target Changed • Jun 05
Price target decreased by 7.7% to JP¥420 Down from JP¥455, the current price target is an average from 2 analysts. New target price is 13% above last closing price of JP¥372. Stock is down 8.8% over the past year. The company is forecast to post earnings per share of JP¥12.50 for next year compared to JP¥8.49 last year. Announcement • May 27
Infomart Corporation (TSE:2492) entered into a Share Transfer Agreement to acquire 5.07% stake in SpiderPlus & Co. (TSE:4192) from Kenji Ito for approximately ¥520 million. Infomart Corporation (TSE:2492) entered into a Share Transfer Agreement to acquire 5.07% stake in SpiderPlus & Co. (TSE:4192) from Kenji Ito for approximately ¥520 million on May 27, 2026. A cash consideration of ¥523 million will be paid by Infomart Corporation. As part of consideration, ¥523 million is paid towards common equity of SpiderPlus & Co.
The expected completion of the transaction is May 29, 2026. New Risk • May 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • May 01
First quarter 2026 earnings released: EPS: JP¥2.54 (vs JP¥1.35 in 1Q 2025) First quarter 2026 results: EPS: JP¥2.54 (up from JP¥1.35 in 1Q 2025). Revenue: JP¥4.90b (up 14% from 1Q 2025). Net income: JP¥610.0m (up 100% from 1Q 2025). Profit margin: 12% (up from 7.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥3.29 announced Shareholders will receive a dividend of JP¥3.29. Ex-date: 29th June 2026 Payment date: 3rd September 2026 Dividend yield will be 1.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 120% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥467, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 12x in the Professional Services industry in Japan. Total returns to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥187 per share. Reported Earnings • Mar 27
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥8.49 (up from JP¥2.90 in FY 2024). Revenue: JP¥18.8b (up 20% from FY 2024). Net income: JP¥1.92b (up 193% from FY 2024). Profit margin: 10% (up from 4.2% 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 31%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Mar 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% 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 (8.2% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • Mar 03
Infomart Corporation announced that it has received ¥3.51334884 billion in funding from Dai-ichi Life Holdings, Inc. On March 2, 2026, Infomart Corporation has closed the transaction. Announcement • Feb 16
Infomart Corporation, Annual General Meeting, Mar 25, 2026 Infomart Corporation, Annual General Meeting, Mar 25, 2026. Reported Earnings • Feb 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥8.49 (up from JP¥2.90 in FY 2024). Revenue: JP¥18.8b (up 20% from FY 2024). Net income: JP¥1.92b (up 193% from FY 2024). Profit margin: 10% (up from 4.2% 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 31%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥382, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 13x in the Professional Services industry in Japan. Total loss to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥300 per share. New Risk • Feb 04
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 5.9% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥2.23 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 March 2026. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.1%). Announcement • Dec 05
Infomart Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Infomart Corporation announced that they will report fiscal year 2025 results on Feb 13, 2026 Major Estimate Revision • Nov 07
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥19.1b to JP¥18.9b. EPS estimate also fell from JP¥7.27 per share to JP¥6.40 per share. Net income forecast to grow 66% next year vs 13% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥457 unchanged from last update. Share price was steady at JP¥332 over the past week. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: JP¥2.88 (vs JP¥1.33 in 3Q 2024) Third quarter 2025 results: EPS: JP¥2.88 (up from JP¥1.33 in 3Q 2024). Revenue: JP¥4.80b (up 19% from 3Q 2024). Net income: JP¥653.0m (up 117% from 3Q 2024). Profit margin: 14% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Declared Dividend • Sep 04
First half dividend of JP¥2.23 announced Shareholders will receive a dividend of JP¥2.23. Ex-date: 29th December 2025 Payment date: 27th March 2026 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 158% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: JP¥2.40 (vs JP¥0.13 in 2Q 2024) Second quarter 2025 results: EPS: JP¥2.40 (up from JP¥0.13 in 2Q 2024). Revenue: JP¥4.70b (up 27% from 2Q 2024). Net income: JP¥542.2m (up JP¥512.2m from 2Q 2024). Profit margin: 12% (up from 0.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥2.23 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 04 September 2025. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (4.0%). In line with average of industry peers (1.2%). Reported Earnings • May 01
First quarter 2025 earnings released: EPS: JP¥1.35 (vs JP¥0.89 in 1Q 2024) First quarter 2025 results: EPS: JP¥1.35 (up from JP¥0.89 in 1Q 2024). Revenue: JP¥4.30b (up 22% from 1Q 2024). Net income: JP¥305.0m (up 51% from 1Q 2024). Profit margin: 7.1% (up from 5.7% in 1Q 2024). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 11
Final dividend of JP¥2.23 announced Shareholders will receive a dividend of JP¥2.23. Ex-date: 27th June 2025 Payment date: 4th September 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 6.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 120% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥2.90 (up from JP¥1.31 in FY 2023). Revenue: JP¥15.6b (up 17% from FY 2023). Net income: JP¥655.0m (up 120% from FY 2023). Profit margin: 4.2% (up from 2.2% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥0.77 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 28 March 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (0.9%). Announcement • Dec 03
Infomart Corporation to Report Fiscal Year 2024 Results on Feb 14, 2025 Infomart Corporation announced that they will report fiscal year 2024 results on Feb 14, 2025 Declared Dividend • Nov 07
Dividend of JP¥0.77 announced Shareholders will receive a dividend of JP¥0.77. Ex-date: 27th December 2024 Payment date: 28th March 2025 Dividend yield will be 0.5%, which is lower than the industry average of 1.2%. Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: JP¥1.33 (vs JP¥0.69 in 3Q 2023) Third quarter 2024 results: EPS: JP¥1.33 (up from JP¥0.69 in 3Q 2023). Revenue: JP¥4.03b (up 17% from 3Q 2023). Net income: JP¥301.0m (up 92% from 3Q 2023). Profit margin: 7.5% (up from 4.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥4.03 to JP¥3.39 per share. Revenue forecast steady at JP¥15.7b. Net income forecast to grow 273% next year vs 16% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥420 unchanged from last update. Share price fell 10% to JP¥318 over the past week. Announcement • Aug 27
Infomart Corporation to Report Q3, 2024 Results on Oct 31, 2024 Infomart Corporation announced that they will report Q3, 2024 results on Oct 31, 2024 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 9.1% 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. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: JP¥0.13 (vs JP¥0.52 in 2Q 2023) Second quarter 2024 results: EPS: JP¥0.13 (down from JP¥0.52 in 2Q 2023). Revenue: JP¥3.69b (up 14% from 2Q 2023). Net income: JP¥30.0m (down 75% from 2Q 2023). Profit margin: 0.8% (down from 3.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to JP¥309. The fair value is estimated to be JP¥386, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Buy Or Sell Opportunity • Jul 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to JP¥312. The fair value is estimated to be JP¥390, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Buy Or Sell Opportunity • Jul 01
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to JP¥299. The fair value is estimated to be JP¥391, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥0.77 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 04 September 2024. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.0%). Buy Or Sell Opportunity • Jun 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to JP¥286. The fair value is estimated to be JP¥367, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Announcement • Jun 02
Infomart Corporation to Report Q2, 2024 Results on Jul 31, 2024 Infomart Corporation announced that they will report Q2, 2024 results on Jul 31, 2024 Buy Or Sell Opportunity • May 29
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to JP¥292. The fair value is estimated to be JP¥372, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: JP¥0.89 (vs JP¥0.43 in 1Q 2023) First quarter 2024 results: EPS: JP¥0.89 (up from JP¥0.43 in 1Q 2023). Revenue: JP¥3.52b (up 17% from 1Q 2023). Net income: JP¥202.0m (up 106% from 1Q 2023). Profit margin: 5.7% (up from 3.2% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 11
Final dividend of JP¥0.77 announced Shareholders will receive a dividend of JP¥0.77. Ex-date: 27th June 2024 Payment date: 4th September 2024 Dividend yield will be 0.3%, which is lower than the industry average of 1.2%. Payout Ratios Payout ratio: 109%. Cash payout ratio: Approximately 6x free cash flows. Announcement • Mar 14
Infomart Corporation (TSE:2492) agreed to acquire 83.98% stake in Tanomu Inc. from a group of shareholders for ¥2.4 billion. Infomart Corporation (TSE:2492) agreed to acquire additional 83.98% stake in Tanomu Inc. from a group of shareholders for ¥2.4 billion on March 13, 2024. As per the transaction Infomart Corporation will acquire 1542 share of Tanomu Inc in two parts. As of March 31, 2023, Tanomu Inc. generated net assets of 231 million, net sales of 116 million, total assets of 281 million, operating loss of 15 million and net loss of 14 million. The transaction is expected to close on March 31, 2025. Buy Or Sell Opportunity • Mar 04
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at JP¥446. The fair value is estimated to be JP¥366, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 57%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Major Estimate Revision • Mar 02
Consensus EPS estimates increase by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥15.7b to JP¥16.0b. EPS estimate increased from JP¥3.54 to JP¥4.32 per share. Net income forecast to grow 240% next year vs 15% growth forecast for Professional Services industry in Japan. Consensus price target up from JP¥423 to JP¥457. Share price rose 8.0% to JP¥432 over the past week. Announcement • Mar 01
Infomart Corporation to Report Q1, 2024 Results on Apr 30, 2024 Infomart Corporation announced that they will report Q1, 2024 results on Apr 30, 2024 Major Estimate Revision • Feb 23
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥2.99 to JP¥3.54. Revenue forecast steady at JP¥15.7b. Net income forecast to grow 169% next year vs 13% growth forecast for Professional Services industry in Japan. Consensus price target up from JP¥410 to JP¥423. Share price rose 4.2% to JP¥400 over the past week. Announcement • Feb 16
Infomart Corporation, Annual General Meeting, Mar 27, 2024 Infomart Corporation, Annual General Meeting, Mar 27, 2024. Reported Earnings • Feb 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥1.31 (up from JP¥1.25 in FY 2022). Revenue: JP¥13.4b (up 21% from FY 2022). Net income: JP¥298.0m (up 4.2% from FY 2022). Profit margin: 2.2% (down from 2.6% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥0.49 per share at 0.2% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 30 March 2024. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.2%). Announcement • Dec 05
Infomart Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Infomart Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 New Risk • Nov 06
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 7.6% 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 (7.6% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Reported Earnings • Nov 02
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: JP¥0.69 (down from JP¥0.92 in 3Q 2022). Revenue: JP¥3.45b (up 24% from 3Q 2022). Net income: JP¥157.0m (down 25% from 3Q 2022). Profit margin: 4.6% (down from 7.5% in 3Q 2022). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Nov 01
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from JP¥1.76 to JP¥1.94. Revenue forecast steady at JP¥13.2b. Net income forecast to grow 197% next year vs 20% growth forecast for Professional Services industry in Japan. Consensus price target down from JP¥422 to JP¥402. Share price fell 4.1% to JP¥351 over the past week. Announcement • Aug 27
Infomart Corporation to Report Q3, 2023 Results on Oct 31, 2023 Infomart Corporation announced that they will report Q3, 2023 results on Oct 31, 2023 New Risk • Aug 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: JP¥0.52 (vs JP¥0.72 in 2Q 2022) Second quarter 2023 results: EPS: JP¥0.52 (down from JP¥0.72 in 2Q 2022). Revenue: JP¥3.25b (up 20% from 2Q 2022). Net income: JP¥119.0m (down 27% from 2Q 2022). Profit margin: 3.7% (down from 6.0% in 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 01
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from JP¥1.26 to JP¥1.51. Revenue forecast steady at JP¥13.1b. Net income forecast to grow 64% next year vs 20% growth forecast for Professional Services industry in Japan. Consensus price target up from JP¥313 to JP¥369. Share price rose 11% to JP¥430 over the past week. Announcement • Jun 22
Infomart Corporation (TSE:2492) announces an Equity Buyback for 5,000,000 shares, representing 2.19% for ¥1,000 million. Infomart Corporation (TSE:2492) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 2.19% of its outstanding shares for ¥1,000 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency and execute flexible capital policies. The program is valid till September 22, 2023. As of May 31, 2023, the company had 228,706,951 shares outstanding and 30,724,249 shares in treasury. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥0.23 per share at 0.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.3%). Announcement • Jun 02
Infomart Corporation to Report Q2, 2023 Results on Jul 31, 2023 Infomart Corporation announced that they will report Q2, 2023 results on Jul 31, 2023