Reported Earnings • May 20
First quarter 2026 earnings released First quarter 2026 results: EPS: JP¥38.10. Net income: JP¥599.0m (up JP¥599.0m from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥112 (up from JP¥107 in FY 2024). Revenue: JP¥23.1b (up 16% from FY 2024). Net income: JP¥1.80b (up 1.3% from FY 2024). Profit margin: 7.8% (down from 8.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Feb 21
Management Solutions Co., Ltd. Announces Changes in Chairman and Director Positions, Effective February 20, 2026 Management Solutions Co. Ltd. announced that Akira Kaneko, Representative Director and President, has tendered his resignation due to health reasons, and the Board of Directors of the Company has accepted it on February 20, 2026. Shinya Takahashi will assume the roles of Representative Director, Chairman, and President. Shinya Takahashi was born in November 8, 1972. His career summary includes: Joined Andersen Consulting (currently Accenture) in September 1996, joined Ernst and Young Consulting (currently QUNIE) in September 1999, joined Sony Global Solutions in May 2003, joined Capgemini Japan (currently QUNIE) in October 2004, founded MSOL and was appointed President in July 2005, appointed President and CEO of MSOL in November 2012, appointed Director of MSOL Inc. in November 2013, appointed Director of MSOL-TW in November 2015, appointed Director of PROEVER in November 2015, appointed Director of Management Solutions (Shanghai) Co. Ltd. in November 2018, appointed Director of MSOL Inc. in February 2022 (to present), appointed Director of MSOL Digital Co. Ltd. in January 2024 (to present), and appointed Chairman of the Board of MSOL in January 2024 (to present). Akira Kaneko is scheduled to retire from his position as Director of the Company upon the conclusion of the 21st Annual General Meeting of Shareholders to be held on March 27, 2026. Reported Earnings • Feb 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥112 (up from JP¥107 in FY 2024). Revenue: JP¥23.1b (up 16% from FY 2024). Net income: JP¥1.80b (up 1.3% from FY 2024). Profit margin: 7.8% (down from 8.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Revenue is forecast to grow 16% p.a. on average during the next 2 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 27% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Feb 17
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 5.7% 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 (28% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (5.7% average weekly change). Upcoming Dividend • Dec 22
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 March 2026. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.1%). New Risk • Oct 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (28% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (6.1% average weekly change). Price Target Changed • Oct 11
Price target decreased by 21% to JP¥1,560 Down from JP¥1,980, the current price target is provided by 1 analyst. New target price is 9.2% above last closing price of JP¥1,429. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥120 for next year compared to JP¥107 last year. Declared Dividend • Aug 16
Dividend increased to JP¥32.00 Dividend of JP¥32.00 is 6.7% higher than last year. Ex-date: 29th December 2025 Payment date: 16th March 2026 Dividend yield will be 2.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 152% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 82% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,444, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Professional Services industry in Japan. Total loss to shareholders of 51% over the past three years. Announcement • May 16
Management Solutions co.,Ltd. (TSE:7033) announces an Equity Buyback for 600,000 shares, representing 3.56% for ¥1,000 million. Management Solutions co.,Ltd. (TSE:7033) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 3.56% of its share capital, for ¥1,000 million. The purpose of the program is to implement flexible share buybacks as part of company's shareholder return and capital policy. The program will expire on May 15, 2026. As of May 15, 2025, the company had 16,849,900 shares in issue (excluding treasury stock) and 527,267 shares in treasury. 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 9.6% 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 Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (28% accrual ratio). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥2,313, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 48% over the past three years. Announcement • Apr 10
Management Solutions co.,Ltd. to Report Q1, 2025 Results on May 15, 2025 Management Solutions co.,Ltd. announced that they will report Q1, 2025 results on May 15, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,404, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Professional Services industry in Japan. Total loss to shareholders of 67% over the past three years. Reported Earnings • Apr 05
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥107 (up from JP¥99.89 in FY 2023). Revenue: JP¥19.9b (up 13% from FY 2023). Net income: JP¥1.77b (up 7.1% from FY 2023). Profit margin: 8.9% (down from 9.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Management Solutions co.,Ltd., Annual General Meeting, Mar 28, 2025 Management Solutions co.,Ltd., Annual General Meeting, Mar 28, 2025. Reported Earnings • Feb 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥107 (up from JP¥99.89 in FY 2023). Revenue: JP¥19.9b (up 13% from FY 2023). Net income: JP¥1.77b (up 7.1% from FY 2023). Profit margin: 8.9% (down from 9.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 2 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 44% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Feb 14
Management Solutions Co.,Ltd. Announces Dividend for the Year Ended December 31, 2024, Effective March 14, 2025 Management Solutions co.,Ltd. announced that at a meeting held on February 14,2025, the Board of Directors resolved to pay a dividend of surplus of JPY 30.00 per share with a record date of December 31, 2024 against JPY 18.00 per share paid a year ago. Effective date is March 14, 2025. Reported Earnings • Dec 15
Full year 2024 earnings released: EPS: JP¥103 (vs JP¥97.69 in FY 2023) Full year 2024 results: EPS: JP¥103 (up from JP¥97.69 in FY 2023). Revenue: JP¥19.5b (up 15% from FY 2023). Net income: JP¥1.71b (up 5.2% from FY 2023). Profit margin: 8.7% (in line with FY 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. New Risk • Sep 17
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 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 (9.5% average weekly change). Reported Earnings • Sep 15
Third quarter 2024 earnings released: EPS: JP¥30.88 (vs JP¥23.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥30.88 (up from JP¥23.87 in 3Q 2023). Revenue: JP¥5.01b (up 16% from 3Q 2023). Net income: JP¥512.4m (up 29% from 3Q 2023). Profit margin: 10% (up from 9.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% 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 increased by 49% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • Sep 13
Management Solutions co.,Ltd. (TSE:7033) announces an Equity Buyback for 405,000 shares, representing 2.41% for ¥500 million. Management Solutions co.,Ltd. (TSE:7033) announces a share repurchase program. Under the program, the company will repurchase up to 405,000 shares, representing 2.41% of its share capital, for ¥500 million. The purpose of the program is to implement flexible share buybacks as
part of company's shareholder return and capital policy. The program will expire on November 30, 2024. As of July 31, 2024, the company had 16,822,700 shares in issue (excluding treasury stock) and 228,441 shares in treasury. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to JP¥991, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 61% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥465 per share. Reported Earnings • Jun 16
Second quarter 2024 earnings released: EPS: JP¥22.35 (vs JP¥24.36 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.35 (down from JP¥24.36 in 2Q 2023). Revenue: JP¥4.75b (up 13% from 2Q 2023). Net income: JP¥370.8m (down 8.2% from 2Q 2023). Profit margin: 7.8% (down from 9.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 15
Management Solutions co.,Ltd. to Report 14 Months 2024 Results on Feb 17, 2025 Management Solutions co.,Ltd. announced that they will report 14 months, 2024 results at 3:30 PM, Tokyo Standard Time on Feb 17, 2025 Announcement • Apr 10
Management Solutions co.,Ltd. to Report Q2, 2024 Results on Jun 14, 2024 Management Solutions co.,Ltd. announced that they will report Q2, 2024 results on Jun 14, 2024 Reported Earnings • Mar 17
First quarter 2024 earnings released: EPS: JP¥11.55 (vs JP¥9.29 in 1Q 2023) First quarter 2024 results: EPS: JP¥11.55 (up from JP¥9.29 in 1Q 2023). Revenue: JP¥4.51b (up 18% from 1Q 2023). Net income: JP¥191.6m (up 24% from 1Q 2023). Profit margin: 4.2% (up from 4.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% 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 60% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,345, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Professional Services industry in Japan. Total returns to shareholders of 15% over the past three years. Reported Earnings • Feb 03
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥97.69 (up from JP¥31.07 in FY 2022). Revenue: JP¥16.9b (up 41% from FY 2022). Net income: JP¥1.62b (up 213% from FY 2022). Profit margin: 9.6% (up from 4.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.1%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Feb 01
Management Solutions co.,Ltd. to Report Q1, 2024 Results on Mar 14, 2024 Management Solutions co.,Ltd. announced that they will report Q1, 2024 results on Mar 14, 2024 Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥3,305, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Professional Services industry in Japan. Total returns to shareholders of 86% over the past three years. Major Estimate Revision • Dec 21
Consensus revenue estimates increase by 17%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥21.3b to JP¥25.0b. EPS estimate fell from JP¥169 to JP¥158. Net income forecast to grow 62% next year vs 19% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥5,000 unchanged from last update. Share price rose 28% to JP¥3,305 over the past week. Reported Earnings • Dec 15
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥97.74 (up from JP¥31.07 in FY 2022). Revenue: JP¥16.9b (up 41% from FY 2022). Net income: JP¥1.62b (up 213% from FY 2022). Profit margin: 9.6% (up from 4.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.1%. Revenue is forecast to grow 20% 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 increased by 66% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Dec 14
Management Solutions Co.,Ltd. Provides Earnings Guidance for the Year Ending December 31, 2024 Management Solutions co.,Ltd. provided earnings guidance for the year ending December 31, 2024. For the year, the company expects net sales of JPY 20,000 million, Operating Income of JPY 2,000 million, Profit Attributable to Owners of Parent of JPY 1,000 million and net income per share of JPY 100.00. Announcement • Dec 09
Management Solutions co.,Ltd., Annual General Meeting, Jan 30, 2024 Management Solutions co.,Ltd., Annual General Meeting, Jan 30, 2024. Announcement • Dec 08
Management Solutions co.,Ltd. Announces Executive Changes Management Solutions Co. Ltd. (the Company) announced that its Board of Directors has informally decided at the Board of Directors meeting held on December 8, 2023, to change President & CEO. Approval on this matter will take place at the 19th Annual General Meeting of Shareholders on January 30, 2024, and at the Board of Directors meetings that follows the conclusion of the General Meeting of Shareholders. Reason for the Change: In order to further promote realization of the vision set by group, the Company has decided to reform management structure. Akira Kaneko, who will be newly appointed as President and CEO, has expanded the Company's business as General Manager of the Project Management division before and after the company went public on the Tokyo Stock Exchange. Moreover, Akira Kaneko launched the PROEVER business as General Manager of the division, and expanded sales as Director of MSOL China, a subsidiary of the Company. In mid-term business plan toward 2025, the company has built a strong organization to further expand profit-earning opportunities by launching a sales organization and turning to "Aggressive Sales Activities". In addition, a report by a major research firm indicates the potential market for PMO services is expected to be worth JPY 1 trillion by 2030. The company aims to further strengthen customer engagement, promote the development of potential markets, and expand its market share, and will take strong leadership based on Akira Kaneko's rich experience and achievements to firmly establish its steadfast position as a leading PMO company. As Chairman of the Board, Shinya Takahashi, the current President and CEO, will continue to support the new President and CEO in order to continuously develop the management organization after 2025, strengthen communication for alliances and M&A, and engage in investor relations activities. Furthermore, Shinya Takahashi will utilize his extensive experience acquired as a consultant to address issues in East Asia and Japan beyond the scope of a single company, such as educational disparities and social welfare, through activities beyond the business scope of Management Solutions Co. Ltd. Career Summary of New Candidates for Representative directors: Name: Akira KANEKO. Date of Birth October 5th, 1977. Education Graduated from Nihon University in March 2000. Career Summary: Apr. 2000 Joined F.C.C.Systems Co. Ltd. (current Fujitsu Ltd.); Sep. 2007 Joined Management Solutions Co. Ltd.; Nov. 2014 Executive Officer of the Company; Nov. 2018 Director, MSOL-TW; Apr. 2019 Director, Management Solutions (Shanghai) Co. Ltd.; Jan. 2023 Member of the Board (Current position); Feb. 2023 Director, Management Solutions (Shanghai) Co. Ltd. (Current position). Scheduled date of assumption: January 30,2024. Announcement • Oct 29
Management Solutions co.,Ltd. to Report Fiscal Year 2023 Results on Dec 14, 2023 Management Solutions co.,Ltd. announced that they will report fiscal year 2023 results on Dec 14, 2023 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥2.00 per share at 0.1% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 12 January 2024. Trailing yield: 0.1%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.4%). Reported Earnings • Sep 17
Third quarter 2023 earnings released: EPS: JP¥23.87 (vs JP¥1.08 in 3Q 2022) Third quarter 2023 results: EPS: JP¥23.87 (up from JP¥1.08 in 3Q 2022). Revenue: JP¥4.31b (up 35% from 3Q 2022). Net income: JP¥396.0m (up JP¥378.0m from 3Q 2022). Profit margin: 9.2% (up from 0.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% 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 increased by 63% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥3,235, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Professional Services industry in Japan. Total returns to shareholders of 108% over the past three years. Announcement • Jul 29
Management Solutions co.,Ltd. to Report Q3, 2023 Results on Sep 14, 2023 Management Solutions co.,Ltd. announced that they will report Q3, 2023 results on Sep 14, 2023 Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 46% After last week's 46% share price gain to JP¥4,425, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 18x in the Professional Services industry in Japan. Total returns to shareholders of 202% over the past three years. New Risk • Jun 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (30% accrual ratio). Reported Earnings • Jun 16
Second quarter 2023 earnings released: EPS: JP¥24.36 (vs JP¥0.72 in 2Q 2022) Second quarter 2023 results: EPS: JP¥24.36 (up from JP¥0.72 in 2Q 2022). Revenue: JP¥4.22b (up 50% from 2Q 2022). Net income: JP¥404.0m (up JP¥392.0m from 2Q 2022). Profit margin: 9.6% (up from 0.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 21
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥109 to JP¥87.50. Revenue forecast unchanged from JP¥16.7b at last update. Net income forecast to grow 228% next year vs 12% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥5,000 unchanged from last update. Share price fell 7.7% to JP¥2,899 over the past week. Reported Earnings • Mar 15
First quarter 2023 earnings released: EPS: JP¥9.29 (vs JP¥7.57 in 1Q 2022) First quarter 2023 results: EPS: JP¥9.29 (up from JP¥7.57 in 1Q 2022). Revenue: JP¥3.82b (up 60% from 1Q 2022). Net income: JP¥154.0m (up 22% from 1Q 2022). Profit margin: 4.0% (down from 5.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 49% per year. Reported Earnings • Feb 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥31.07 (down from JP¥40.84 in FY 2021). Revenue: JP¥12.0b (up 63% from FY 2021). Net income: JP¥517.0m (down 24% from FY 2021). Profit margin: 4.3% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Management Solutions co.,Ltd. to Report Q1, 2023 Results on Mar 14, 2023 Management Solutions co.,Ltd. announced that they will report Q1, 2023 results on Mar 14, 2023 Announcement • Dec 16
Management Solutions co.,Ltd., Annual General Meeting, Jan 27, 2023 Management Solutions co.,Ltd., Annual General Meeting, Jan 27, 2023. Reported Earnings • Dec 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥35.82 (down from JP¥40.84 in FY 2021). Revenue: JP¥12.0b (up 63% from FY 2021). Net income: JP¥596.0m (down 12% from FY 2021). Profit margin: 5.0% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year whereas the company’s share price has increased by 55% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Kunimasa Tamai was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 09
Management Solutions co.,Ltd. to Report Fiscal Year 2022 Results on Dec 14, 2022 Management Solutions co.,Ltd. announced that they will report fiscal year 2022 results on Dec 14, 2022 Major Estimate Revision • Sep 21
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥12.4b to JP¥12.0b. EPS estimate also fell from JP¥50.40 per share to JP¥42.30 per share. Net income forecast to grow 232% next year vs 11% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥4,000 unchanged from last update. Share price fell 8.2% to JP¥2,574 over the past week. Reported Earnings • Sep 15
Third quarter 2022 earnings released: EPS: JP¥1.08 (vs JP¥10.65 in 3Q 2021) Third quarter 2022 results: EPS: JP¥1.08 (down from JP¥10.65 in 3Q 2021). Revenue: JP¥3.19b (up 61% from 3Q 2021). Net income: JP¥18.0m (down 90% from 3Q 2021). Profit margin: 0.6% (down from 8.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 11% 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 increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jul 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from JP¥12.0b to JP¥12.4b. EPS estimate fell from JP¥56.30 to JP¥50.40 per share. Net income forecast to grow 113% next year vs 9.0% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥4,000 unchanged from last update. Share price rose 6.5% to JP¥2,887 over the past week. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥2,580, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Professional Services industry in Japan. Total returns to shareholders of 223% over the past three years. Announcement • Jul 03
Management Solutions co.,Ltd. to Report Q3, 2022 Results on Sep 14, 2022 Management Solutions co.,Ltd. announced that they will report Q3, 2022 results on Sep 14, 2022 Announcement • Jun 24
Management Solutions co.,Ltd. (TSE:7033) announces an Equity Buyback for 150,000 shares, representing 0.89% for ¥300 million. Management Solutions co.,Ltd. (TSE:7033) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 0.89% of its share capital, for ¥300 million. The purpose of the program is to enable the implementation of agile capital policies in response to changes in the business environment and shareholder returns and improvement of capital efficiency. The program will expire on August 31, 2022. As of April 30, 2022, the company had 16,783,300 shares in issue (excluding treasury stock) and 101,643 shares in treasury. Reported Earnings • Jun 16
Second quarter 2022 earnings released: EPS: JP¥0.72 (vs JP¥7.78 in 2Q 2021) Second quarter 2022 results: EPS: JP¥0.72 (down from JP¥7.78 in 2Q 2021). Revenue: JP¥2.82b (up 60% from 2Q 2021). Net income: JP¥12.0m (down 91% from 2Q 2021). Profit margin: 0.4% (down from 7.3% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 53%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year and the company’s share price has also increased by 44% per year. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥3,215, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 20x in the Professional Services industry in Japan. Total returns to shareholders of 347% over the past three years. Price Target Changed • Apr 27
Price target increased to JP¥4,000 Up from JP¥2,645, the current price target is provided by 1 analyst. New target price is 15% below last closing price of JP¥4,710. Stock is up 142% over the past year. The company is forecast to post earnings per share of JP¥62.40 for next year compared to JP¥40.84 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Kunimasa Tamai was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Management Solutions co.,Ltd. to Report Q2, 2022 Results on Jun 14, 2022 Management Solutions co.,Ltd. announced that they will report Q2, 2022 results on Jun 14, 2022 Reported Earnings • Mar 15
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥7.57 (up from JP¥4.23 in 1Q 2021). Revenue: JP¥2.38b (up 58% from 1Q 2021). Net income: JP¥126.0m (up 80% from 1Q 2021). Profit margin: 5.3% (up from 4.6% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 50%, compared to a 12% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 03
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥40.84 (up from JP¥0.72 loss in FY 2020). Revenue: JP¥7.36b (up 41% from FY 2020). Net income: JP¥678.0m (up JP¥690.0m from FY 2020). Profit margin: 9.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 56%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 19
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥40.84 (up from JP¥0.72 loss in FY 2020). Revenue: JP¥7.36b (up 41% from FY 2020). Net income: JP¥678.0m (up JP¥690.0m from FY 2020). Profit margin: 9.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.5%. Earnings per share (EPS) surpassed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 56%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 92% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Dec 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from JP¥9.85b to JP¥11.5b. EPS estimate fell from JP¥59.40 to JP¥56.35. Net income forecast to grow 140% next year vs 20% growth forecast for Professional Services industry in Japan. Consensus price target of JP¥3,300 unchanged from last update. Share price fell 5.1% to JP¥2,950 over the past week.