Announcement • May 09
Convano Inc. to Report Fiscal Year 2026 Results on May 15, 2026 Convano Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥124, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 16x in the Consumer Services industry in Japan. Total returns to shareholders of 2,351% over the past three years. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥136, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 16x in the Consumer Services industry in Japan. Total returns to shareholders of 2,687% over the past three years. Announcement • Jan 06
Convano Inc. to Report Q3, 2026 Results on Feb 13, 2026 Convano Inc. announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Nov 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (168% accrual ratio). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥124, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 16x in the Consumer Services industry in Japan. Total returns to shareholders of 2,380% over the past three years. New Risk • Nov 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 168% 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 (24% average weekly change). High level of non-cash earnings (168% accrual ratio). Announcement • Oct 24
Convano Inc. (TSE:6574) announces an Equity Buyback for 500,000 shares, representing 0.1% for ¥200 million. Convano Inc. (TSE:6574) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 0.1% of its issued share capital, for ¥200 million. The purpose of the program is to strengthen shareholder returns and maximize shareholder value by responding flexibly to the current market environment and improving capital efficiency (ROE, value per share), while adhering to our basic policy of growth investment. The program is subject to approval from extraordinary general meeting of shareholders. The program will expire on January 31, 2026. As of October 24, 2025, the company had 509,156,000 shares (excluding treasury stock) in issue and 20,100 shares in treasury. Announcement • Oct 07
Convano Inc. to Report Q2, 2026 Results on Nov 13, 2025 Convano Inc. announced that they will report Q2, 2026 results on Nov 13, 2025 New Risk • Aug 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥11.3b (US$76.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risk Market cap is less than US$100m (JP¥11.3b market cap, or US$76.2m). Announcement • Jul 03
Convano Inc. to Report Q1, 2026 Results on Aug 15, 2025 Convano Inc. announced that they will report Q1, 2026 results on Aug 15, 2025 Announcement • Jul 02
Convano Inc. announced that it expects to receive ¥26.6 million in funding from Dimensional Co., Ltd. Convano Inc. announced a private placement to issue 7,000 units of 4th series of stock acquisition rights through third-party allotment to Dimensional Co., Ltd at an issue price of ¥3,800 per right for gross proceeds of ¥26,600,000 on June 30, 2025. The transaction has been approved by shareholders, expected to close on July 16, 2025. The company has disclosed the Amount of funds to be raised, use, and planned time of expenditure Amount of funds to be raised by the issuance of the stock acquisition rights (estimated net proceeds) Total amount of payment: ¥6,018,600,000, Total amount of payment for the stock acquisition rights: ¥26,600,000, Value of assets to be contributed when the stock acquisition rights are exercised: ¥5,992,000,000, Estimated issuance expenses: ¥8,000,000 and Estimated net proceeds: ¥6,010,600,000. The initial exercise price will be ¥8,560 The exercise period is from July 16, 2025 to July 15, 2027. Reported Earnings • May 20
Full year 2025 earnings released: EPS: JP¥17.76 (vs JP¥77.05 loss in FY 2024) Full year 2025 results: EPS: JP¥17.76 (up from JP¥77.05 loss in FY 2024). Revenue: JP¥3.24b (up 25% from FY 2024). Net income: JP¥77.0m (up JP¥275.0m from FY 2024). Profit margin: 2.4% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 86% per year, which means it is well ahead of earnings. Announcement • May 16
Convano Inc., Annual General Meeting, Jun 27, 2025 Convano Inc., Annual General Meeting, Jun 27, 2025. New Risk • May 16
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). Earnings have declined by 23% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥11.0b market cap, or US$75.9m). Announcement • Mar 29
Convano Inc. to Report Fiscal Year 2025 Results on May 15, 2025 Convano Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥7.61 (vs JP¥0.33 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥7.61 (up from JP¥0.33 loss in 3Q 2024). Revenue: JP¥827.0m (up 28% from 3Q 2024). Net income: JP¥33.0m (up JP¥33.0m from 3Q 2024). Profit margin: 4.0% (up from 0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Announcement • Jan 17
Convano Inc. to Report Q3, 2025 Results on Feb 14, 2025 Convano Inc. announced that they will report Q3, 2025 results on Feb 14, 2025 Announcement • Oct 01
Convano Inc. to Report Q2, 2025 Results on Nov 14, 2024 Convano Inc. announced that they will report Q2, 2025 results on Nov 14, 2024 Buy Or Sell Opportunity • Aug 13
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to JP¥1,451. The fair value is estimated to be JP¥1,120, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 15%. Announcement • Jun 28
Convano Inc. to Report Q1, 2025 Results on Aug 09, 2024 Convano Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Buy Or Sell Opportunity • May 15
Now 40% overvalued after recent price rise Over the last 90 days, the stock has risen 54% to JP¥1,384. The fair value is estimated to be JP¥986, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 15%. Reported Earnings • May 13
Full year 2024 earnings released: JP¥77.05 loss per share (vs JP¥14.98 loss in FY 2023) Full year 2024 results: JP¥77.05 loss per share (further deteriorated from JP¥14.98 loss in FY 2023). Revenue: JP¥2.59b (up 11% from FY 2023). Net loss: JP¥198.0m (loss widened 482% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • May 12
Convano Inc., Annual General Meeting, Jun 27, 2024 Convano Inc., Annual General Meeting, Jun 27, 2024. New Risk • Apr 18
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 9.7% 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 (9.7% average weekly change). Earnings have declined by 7.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risks High level of debt (54% net debt to equity). Market cap is less than US$100m (JP¥4.03b market cap, or US$26.1m). Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to JP¥930, the stock trades at a trailing P/E ratio of 52.3x. Average trailing P/E is 18x in the Consumer Services industry in Japan. Total returns to shareholders of 53% over the past three years. Announcement • Mar 06
Convano Inc. to Report Fiscal Year 2024 Results on May 10, 2024 Convano Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: JP¥646.0m (up 7.5% from 3Q 2023). Net income: JP¥0 (up JP¥3.00m from 3Q 2023). Profit margin: 0% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Feb 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 91% This is considered a major 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: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risks High level of debt (54% net debt to equity). Market cap is less than US$100m (JP¥3.50b market cap, or US$23.4m). Announcement • Feb 08
Convano Inc. announced that it has received ¥1.03 billion in funding On February 8, 2024, Convano Inc. closed the transaction. The transaction has been approved at the extraordinary general meeting of shareholders. Announcement • Dec 15
Convano Inc. to Report Q3, 2024 Results on Feb 14, 2024 Convano Inc. announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥468, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 21x in the Consumer Services industry in Japan. Total loss to shareholders of 20% over the past three years. Announcement • Aug 20
Convano Inc. to Report Q2, 2024 Results on Nov 13, 2023 Convano Inc. announced that they will report Q2, 2024 results on Nov 13, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥3.52 (vs JP¥16.31 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥3.52 (up from JP¥16.31 loss in 1Q 2023). Revenue: JP¥651.0m (up 23% from 1Q 2023). Net income: JP¥8.00m (up JP¥45.0m from 1Q 2023). Profit margin: 1.2% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Jul 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.39b (US$9.97m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (JP¥1.39b market cap, or US$9.97m). Announcement • Jun 12
Convano Inc. to Report Q1, 2024 Results on Aug 10, 2023 Convano Inc. announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 17
Full year 2023 earnings released: JP¥14.98 loss per share (vs JP¥22.51 profit in FY 2022) Full year 2023 results: JP¥14.98 loss per share (down from JP¥22.51 profit in FY 2022). Revenue: JP¥2.33b (up 8.8% from FY 2022). Net loss: JP¥34.0m (down 167% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Third quarter 2023 earnings released: JP¥1.32 loss per share (vs JP¥14.11 profit in 3Q 2022) Third quarter 2023 results: JP¥1.32 loss per share (down from JP¥14.11 profit in 3Q 2022). Revenue: JP¥602.0m (up 13% from 3Q 2022). Net loss: JP¥3.00m (down 109% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Dec 02
Convano Inc. to Report Q3, 2023 Results on Feb 10, 2023 Convano Inc. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Outside Director Akiko Ito 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. Reported Earnings • Nov 13
Second quarter 2023 earnings released: JP¥6.61 loss per share (vs JP¥19.85 profit in 2Q 2022) Second quarter 2023 results: JP¥6.61 loss per share (down from JP¥19.85 profit in 2Q 2022). Revenue: JP¥574.0m (flat on 2Q 2022). Net loss: JP¥15.0m (down 133% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Aug 31
Convano Inc. to Report Q2, 2023 Results on Nov 11, 2022 Convano Inc. announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 15
First quarter 2023 earnings released: JP¥16.31 loss per share (vs JP¥12.38 profit in 1Q 2022) First quarter 2023 results: JP¥16.31 loss per share (down from JP¥12.38 profit in 1Q 2022). Revenue: JP¥530.0m (down 1.1% from 1Q 2022). Net loss: JP¥37.0m (down 232% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Jun 10
Convano Inc. to Report Q1, 2023 Results on Aug 12, 2022 Convano Inc. announced that they will report Q1, 2023 results on Aug 12, 2022 Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥22.51 (vs JP¥96.11 loss in FY 2021) Full year 2022 results: EPS: JP¥22.51 (up from JP¥96.11 loss in FY 2021). Revenue: JP¥2.14b (up 33% from FY 2021). Net income: JP¥51.0m (up JP¥267.0m from FY 2021). Profit margin: 2.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year. Announcement • May 14
Convano Inc., Annual General Meeting, Jun 29, 2022 Convano Inc., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Corporate Auditor Yasuaki Sumikawa is the most experienced director on the board, commencing their role in 2014. Independent Outside Director Akiko Ito was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Apr 08
Convano Inc. to Report Fiscal Year 2022 Results on May 12, 2022 Convano Inc. announced that they will report fiscal year 2022 results on May 12, 2022 Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥14.11 (up from JP¥1.78 in 3Q 2021). Revenue: JP¥533.0m (up 3.9% from 3Q 2021). Net income: JP¥32.0m (up JP¥28.0m from 3Q 2021). Profit margin: 6.0% (up from 0.8% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥691, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 18x in the Consumer Services industry in Japan. Total loss to shareholders of 38% over the past three years. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥20.29 (vs JP¥38.70 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥571.0m (up 28% from 2Q 2021). Net income: JP¥46.0m (up JP¥133.0m from 2Q 2021). Profit margin: 8.1% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 25% share price gain to JP¥910, the stock trades at a trailing P/E ratio of 73.7x. Average trailing P/E is 26x in the Consumer Services industry in Japan. Total loss to shareholders of 47% over the past three years. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS JP¥12.38 (vs JP¥96.28 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥536.0m (up 225% from 1Q 2021). Net income: JP¥28.0m (up JP¥244.0m from 1Q 2021). Profit margin: 5.2% (up from net loss in 1Q 2021). Reported Earnings • May 16
Full year 2021 earnings released: JP¥96.11 loss per share (vs JP¥50.17 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥1.62b (down 33% from FY 2020). Net loss: JP¥216.0m (down 293% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Mar 04
Convano Inc. to Report Fiscal Year 2021 Results on May 13, 2021 Convano Inc. announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Feb 15
New 90-day high: JP¥602 The company is up 4.0% from its price of JP¥580 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Services industry, which is flat over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥2.22 (vs JP¥12.97 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥514.0m (down 15% from 3Q 2020). Net income: JP¥5.00m (down 83% from 3Q 2020). Profit margin: 1.0% (down from 4.8% in 3Q 2020). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Jan 29
New 90-day low: JP¥513 The company is down 24% from its price of JP¥675 on 30 October 2020. The Japanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥528 The company is down 27% from its price of JP¥720 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 07
New 90-day low: JP¥578 The company is down 19% from its price of JP¥718 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is down 3.0% over the same period. Announcement • Nov 20
Convano Inc. to Report Q3, 2021 Results on Feb 09, 2021 Convano Inc. announced that they will report Q3, 2021 results on Feb 09, 2021 Announcement • Aug 30
Convano Inc. to Report Q2, 2021 Results on Nov 12, 2020 Convano Inc. announced that they will report Q2, 2021 results on Nov 12, 2020 Announcement • Jun 28
Convano Inc. to Report Q1, 2021 Results on Aug 11, 2020 Convano Inc. announced that they will report Q1, 2021 results on Aug 11, 2020 
