Announcement • Jun 01
FISCO Ltd. to Report Q2, 2026 Results on Aug 13, 2026 FISCO Ltd. announced that they will report Q2, 2026 results on Aug 13, 2026 New Risk • Feb 20
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 5.6% 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 Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). 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 (5.6% average weekly change). Market cap is less than US$100m (JP¥5.36b market cap, or US$34.5m). Announcement • Feb 19
FISCO Ltd., Annual General Meeting, Mar 27, 2026 FISCO Ltd., Annual General Meeting, Mar 27, 2026. New Risk • Jan 06
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 5.5% 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 Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). 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 (5.5% average weekly change). Market cap is less than US$100m (JP¥5.77b market cap, or US$36.9m). Announcement • Dec 03
FISCO Ltd. to Report Fiscal Year 2025 Results on Feb 19, 2026 FISCO Ltd. announced that they will report fiscal year 2025 results on Feb 19, 2026 Announcement • Sep 05
FISCO Ltd. to Report Q3, 2025 Results on Nov 14, 2025 FISCO Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025 Announcement • Aug 29
NCXX Group Inc. (TSE:6634) acquired an additional 17.7% stake in FISCO Ltd. (TSE:3807) from Sequedge Japan Holdings Inc. for ¥1.3 billion. NCXX Group Inc. (TSE:6634) entered into an agreement to acquire an additional 17.7% stake in FISCO Ltd. (TSE:3807) from Sequedge Japan Holdings Inc. for ¥1.3 billion on August 29, 2025. A cash consideration valued at ¥163 per share will be paid by NCXX Group for 8,107,500 shares. NCXX Group will own 15,119,400 shares representing 33% stake in FISCO. The transaction will be financed through senior debt of ¥1.19 billion.
NCXX Group Inc. (TSE:6634) completed the acquisition of an additional 17.7% stake in FISCO Ltd. (TSE:3807) from Sequedge Japan Holdings Inc. August 29, 2025. Announcement • Jun 27
FISCO Ltd. to Report Q2, 2025 Results on Aug 14, 2025 FISCO Ltd. announced that they will report Q2, 2025 results on Aug 14, 2025 Announcement • Mar 27
FISCO Ltd. to Report Q1, 2025 Results on May 15, 2025 FISCO Ltd. announced that they will report Q1, 2025 results on May 15, 2025 Announcement • Feb 19
FISCO Ltd., Annual General Meeting, Mar 28, 2025 FISCO Ltd., Annual General Meeting, Mar 28, 2025. Announcement • Jan 03
FISCO Ltd. to Report Fiscal Year 2024 Results on Feb 19, 2025 FISCO Ltd. announced that they will report fiscal year 2024 results on Feb 19, 2025 Announcement • Nov 13
FISCO Ltd. to Report Q3, 2024 Results on Nov 14, 2024 FISCO Ltd. announced that they will report Q3, 2024 results on Nov 14, 2024 New Risk • Aug 14
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Revenue has declined by 42% over the past year. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (JP¥721m revenue, or US$4.9m). Market cap is less than US$100m (JP¥3.62b market cap, or US$24.6m). New Risk • Aug 05
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 6.8% 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 Revenue has declined by 42% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). 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 (6.8% average weekly change). Market cap is less than US$100m (JP¥3.07b market cap, or US$21.6m). New Risk • Jun 30
New major risk - Revenue and earnings growth Revenue has declined by 42% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 42% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (JP¥721m revenue, or US$4.5m). Market cap is less than US$100m (JP¥4.35b market cap, or US$27.1m). Announcement • Jun 28
FISCO Ltd. to Report Q2, 2024 Results on Aug 14, 2024 FISCO Ltd. announced that they will report Q2, 2024 results on Aug 14, 2024 Announcement • Apr 04
FISCO Ltd. to Report Q1, 2024 Results on May 15, 2024 FISCO Ltd. announced that they will report Q1, 2024 results on May 15, 2024 New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (JP¥721m revenue, or US$4.8m). Market cap is less than US$100m (JP¥5.59b market cap, or US$37.3m). Announcement • Feb 21
FISCO Ltd., Annual General Meeting, Mar 28, 2024 FISCO Ltd., Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥3.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 31 March 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.2%). Announcement • Dec 14
FISCO Ltd. to Report Fiscal Year 2023 Results on Feb 19, 2024 FISCO Ltd. announced that they will report fiscal year 2023 results on Feb 19, 2024 New Risk • Aug 17
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: JP¥721m (US$4.9m) This is considered a minor risk. Companies with a small amount of revenue 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 102% Minor Risks Revenue is less than US$5m (JP¥721m revenue, or US$4.9m). Market cap is less than US$100m (JP¥4.95b market cap, or US$33.9m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: JP¥1.14 loss per share (vs JP¥0.83 profit in 2Q 2022) Second quarter 2023 results: JP¥1.14 loss per share (down from JP¥0.83 profit in 2Q 2022). Revenue: JP¥186.0m (down 35% from 2Q 2022). Net loss: JP¥52.0m (down 237% from profit in 2Q 2022). 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 8% per year, which means it has not declined as severely as earnings. Reported Earnings • May 20
First quarter 2023 earnings released: JP¥4.02 loss per share (vs JP¥2.54 profit in 1Q 2022) First quarter 2023 results: JP¥4.02 loss per share (down from JP¥2.54 profit in 1Q 2022). Revenue: JP¥87.0m (down 74% from 1Q 2022). Net loss: JP¥184.0m (down 259% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Feb 21
Full year 2022 earnings released: JP¥60.12 loss per share (vs JP¥83.20 profit in FY 2021) Full year 2022 results: JP¥60.12 loss per share (down from JP¥83.20 profit in FY 2021). Revenue: JP¥1.07b (down 7.4% from FY 2021). Net loss: JP¥2.75b (down 172% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 13
FISCO Ltd. to Report Fiscal Year 2022 Results on Feb 20, 2023 FISCO Ltd. announced that they will report fiscal year 2022 results on Feb 20, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 March 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: JP¥0.63 (vs JP¥70.88 in 3Q 2021) Third quarter 2022 results: EPS: JP¥0.63 (down from JP¥70.88 in 3Q 2021). Revenue: JP¥292.0m (down 3.0% from 3Q 2021). Net income: JP¥29.0m (down 99% from 3Q 2021). Profit margin: 9.9% (down from 1,076% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. 1 independent director (5 non-independent directors). Independent Outside Director Yoshiyuki Kiroko was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: JP¥0.83 (vs JP¥0.59 in 2Q 2021) Second quarter 2022 results: EPS: JP¥0.83 (up from JP¥0.59 in 2Q 2021). Net income: JP¥38.0m (up 41% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: JP¥2.54 (vs JP¥16.59 in 1Q 2021) First quarter 2022 results: EPS: JP¥2.54 (down from JP¥16.59 in 1Q 2021). Net income: JP¥116.0m (down 85% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. 1 independent director (5 non-independent directors). Independent Outside Director Yoshiyuki Kiroko was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥83.20 (up from JP¥1.47 in FY 2020). Revenue: JP¥1.16b (up 3.3% from FY 2020). Net income: JP¥3.80b (up JP¥3.74b from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Feb 24
FISCO Ltd., Annual General Meeting, Mar 30, 2022 FISCO Ltd., Annual General Meeting, Mar 30, 2022. Announcement • Dec 22
CAICA Financial Holdings Inc. acquired Fisco Capital Co., Ltd from FISCO Ltd. (JASDAQ:3807) for ¥76 million. CAICA Financial Holdings Inc. acquired Fisco Capital Co., Ltd from FISCO Ltd. (JASDAQ:3807) for ¥76 million on December 20, 2021. CAICA Financial Holdings will acquire 4200 shares of Fisco Capital Co., Ltd. Fisco Capital reported net worth as ¥77.07 million, total assets as ¥7.9 million, sales as ¥0.04 million and net income as -¥1.9 million for the period end on December 2020.
CAICA Financial Holdings Inc. completed the acquisition of Fisco Capital Co., Ltd from FISCO Ltd. (JASDAQ:3807) for ¥76 million on December 20, 2021. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. Payout ratio is a comfortable 3.3% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (0.9%). Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS JP¥70.88 (vs JP¥2.45 loss in 3Q 2020) Third quarter 2021 results: Revenue: JP¥301.0m (up 13% from 3Q 2020). Net income: JP¥3.24b (up JP¥3.35b from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥186, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 19x in the Online Retail industry in Japan. Total loss to shareholders of 25% over the past three years. Reported Earnings • May 18
First quarter 2021 earnings released: EPS JP¥16.59 (vs JP¥0.45 in 1Q 2020) First quarter 2021 results: Revenue: JP¥243.0m (up 3.0% from 1Q 2020). Net income: JP¥758.0m (up JP¥738.0m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS JP¥1.47 (vs JP¥16.12 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥1.12b (down 81% from FY 2019). Net income: JP¥66.0m (up JP¥732.0m from FY 2019). Profit margin: 5.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Feb 17
FISCO Ltd., Annual General Meeting, Mar 30, 2021 FISCO Ltd., Annual General Meeting, Mar 30, 2021. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS JP¥1.47 (vs JP¥16.12 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥1.12b (down 81% from FY 2019). Net income: JP¥66.0m (up JP¥732.0m from FY 2019). Profit margin: 5.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 04
New 90-day high: JP¥208 The company is up 54% from its price of JP¥135 on 06 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: JP¥204 The company is up 49% from its price of JP¥137 on 22 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is down 10.0% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: JP¥174 The company is up 22% from its price of JP¥143 on 06 October 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is down 11% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: JP¥155 The company is up 9.0% from its price of JP¥142 on 11 September 2020. The Japanese market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Online Retail industry, which is down 3.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: JP¥2.45 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: JP¥267.0m (down 22% from 3Q 2019). Net loss: JP¥112.0m (down 143% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 28% per year whereas the company’s share price has fallen by 26% per year. Announcement • Jul 30
Kushim, Inc. (TSE:2345) acquired 4.72% stake of NCXX Group Inc. (JASDAQ:6634) from FISCO Ltd. (JASDAQ:3807) for approximately ¥120 million. Kushim, Inc. (TSE:2345) acquired 4.72% stake of NCXX Group Inc. (JASDAQ:6634) from FISCO Ltd. (JASDAQ:3807) for approximately ¥120 million on June 3, 2020. Under the plan, the company will acquire 7.1 million shares for ¥168 per share. As a result of the transaction, FISCO Ltd will hold 2.2 million shares, representing 14.71% stake.
Kushim, Inc. (TSE:2345) completed the acquisition of 4.72% stake of NCXX Group Inc. (JASDAQ:6634) from FISCO Ltd. (JASDAQ:3807) on June 3, 2020. 