Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,292, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Interactive Media and Services industry in Japan. Total returns to shareholders of 19% over the past three years. Reported Earnings • May 06
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥61.31 (down from JP¥77.16 in FY 2025). Revenue: JP¥8.31b (up 2.6% from FY 2025). Net income: JP¥1.19b (down 20% from FY 2025). Profit margin: 14% (down from 19% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • May 01
ITmedia Inc., Annual General Meeting, Jun 25, 2026 ITmedia Inc., Annual General Meeting, Jun 25, 2026. Announcement • Apr 22
ITmedia Inc. to Report Fiscal Year 2026 Results on May 01, 2026 ITmedia Inc. announced that they will report fiscal year 2026 results on May 01, 2026 Announcement • Apr 03
ITmedia Inc. (TSE:2148) completed the acquisition of Majisemi Co., Ltd. from Yuichi Terada, Naomi Ishihara. ITmedia Inc. (TSE:2148) agreed to acquire Majisemi Co., Ltd. from Yuichi Terada, Naomi Ishihara for ¥2.3 billion on January 29, 2026. A cash consideration of ¥2.3 billion will be paid by ITmedia Inc. As part of consideration, ¥2.3 billion is paid towards common equity of Majisemi Co., Ltd.
The expected completion of the transaction is April 1, 2026.
ITmedia Inc. (TSE:2148) completed the acquisition of Majisemi Co., Ltd. from Yuichi Terada, Naomi Ishihara on April 1, 2026. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,600, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Interactive Media and Services industry in Japan. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥13.75 (vs JP¥18.04 in 3Q 2025) Third quarter 2026 results: EPS: JP¥13.75 (down from JP¥18.04 in 3Q 2025). Revenue: JP¥1.99b (flat on 3Q 2025). Net income: JP¥267.0m (down 24% from 3Q 2025). Profit margin: 13% (down from 18% in 3Q 2025). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jan 30
ITmedia Inc. (TSE:2148) agreed to acquire Majisemi Co., Ltd. from Yuichi Terada, Naomi Ishihara for ¥2.3 billion. ITmedia Inc. (TSE:2148) agreed to acquire Majisemi Co., Ltd. from Yuichi Terada, Naomi Ishihara for ¥2.3 billion on January 29, 2026. A cash consideration of ¥2.3 billion will be paid by ITmedia Inc. As part of consideration, ¥2.3 billion is paid towards common equity of Majisemi Co., Ltd.
The expected completion of the transaction is April 1, 2026. Announcement • Dec 03
ITmedia Inc. to Report Q3, 2026 Results on Feb 06, 2026 ITmedia Inc. announced that they will report Q3, 2026 results on Feb 06, 2026 Major Estimate Revision • Nov 19
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥8.43b to JP¥8.29b. EPS estimate also fell from JP¥74.20 per share to JP¥64.90 per share. Net income forecast to shrink 6.0% next year vs 8.7% growth forecast for Interactive Media and Services industry in Japan . Consensus price target of JP¥1,800 unchanged from last update. Share price fell 3.4% to JP¥1,523 over the past week. Declared Dividend • Nov 02
Dividend of JP¥100.00 announced Dividend of JP¥100.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 8th June 2026 Dividend yield will be 6.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (140% earnings payout ratio) nor is it covered by cash flows (137% cash payout ratio). The dividend has increased by an average of 41% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 55% to bring the payout ratio under control. EPS is expected to grow by 41% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥14.39 (vs JP¥18.72 in 2Q 2025) Second quarter 2026 results: EPS: JP¥14.39 (down from JP¥18.72 in 2Q 2025). Revenue: JP¥2.01b (flat on 2Q 2025). Net income: JP¥279.5m (down 23% from 2Q 2025). Profit margin: 14% (down from 18% in 2Q 2025). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥1,598. The fair value is estimated to be JP¥1,325, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Sep 03
ITmedia Inc. to Report Q2, 2026 Results on Oct 31, 2025 ITmedia Inc. announced that they will report Q2, 2026 results on Oct 31, 2025 Announcement • Aug 05
ITmedia Inc. Reaffirms Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 ITmedia Inc. reaffirmed consolidated earnings guidance for the fiscal year ending March 31, 2026. For the full year, the company expects net sales of JPY 8,500 million. Operating profit is expected to be JPY 2,100 million. Net income attributable to owners of parent is expected to be JPY 1,500 million. Basic earnings per share is expected to be JPY 77.26. The performance for the first quarter of the current fiscal year is progressing within the planned range. Therefore there is no change to the forecast figures announced on May 1, 2025. Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: JP¥12.47 (vs JP¥16.24 in 1Q 2025) First quarter 2026 results: EPS: JP¥12.47 (down from JP¥16.24 in 1Q 2025). Revenue: JP¥1.91b (flat on 1Q 2025). Net income: JP¥242.0m (down 23% from 1Q 2025). Profit margin: 13% (down from 16% in 1Q 2025). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. Independent Outside Director Keiko Hamada was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 05
ITmedia Inc. to Report Q1, 2026 Results on Aug 04, 2025 ITmedia Inc. announced that they will report Q1, 2026 results on Aug 04, 2025 Reported Earnings • May 02
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥77.16. Revenue: JP¥8.10b (up 1.2% from FY 2024). Net income: JP¥1.50b (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.4%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Interactive Media and Services industry in Japan. Announcement • May 01
ITmedia Inc., Annual General Meeting, Jun 26, 2025 ITmedia Inc., Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 09 June 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.1%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Announcement • Mar 04
ITmedia Inc. to Report Fiscal Year 2025 Results on May 01, 2025 ITmedia Inc. announced that they will report fiscal year 2025 results on May 01, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥18.05 (vs JP¥17.27 in 3Q 2024) Third quarter 2025 results: EPS: JP¥18.05 (up from JP¥17.27 in 3Q 2024). Revenue: JP¥1.97b (up 2.2% from 3Q 2024). Net income: JP¥350.0m (up 5.1% from 3Q 2024). Profit margin: 18% (in line with 3Q 2024). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Dec 03
ITmedia Inc. to Report Q3, 2025 Results on Feb 07, 2025 ITmedia Inc. announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥18.72 (vs JP¥22.14 in 2Q 2024) Second quarter 2025 results: EPS: JP¥18.72 (down from JP¥22.14 in 2Q 2024). Revenue: JP¥2.00b (down 2.0% from 2Q 2024). Net income: JP¥363.0m (down 17% from 2Q 2024). Profit margin: 18% (down from 21% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Declared Dividend • Nov 02
Dividend of JP¥100.00 announced Shareholders will receive a dividend of JP¥100.00. Ex-date: 28th March 2025 Payment date: 9th June 2025 Dividend yield will be 6.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (137% earnings payout ratio) nor is it covered by cash flows (133% cash payout ratio). The dividend has increased by an average of 44% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 52% to bring the payout ratio under control. EPS is expected to grow by 42% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Sep 21
ITmedia Inc. to Report Q2, 2025 Results on Oct 31, 2024 ITmedia Inc. announced that they will report Q2, 2025 results on Oct 31, 2024 Price Target Changed • Aug 14
Price target decreased by 9.5% to JP¥1,900 Down from JP¥2,100, the current price target is provided by 1 analyst. New target price is 12% above last closing price of JP¥1,695. Stock is up 49% over the past year. The company is forecast to post earnings per share of JP¥73.20 for next year compared to JP¥76.93 last year. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥13.72 (vs JP¥14.14 in 1Q 2024) First quarter 2025 results: EPS: JP¥13.72 (down from JP¥14.14 in 1Q 2024). Revenue: JP¥1.85b (up 2.6% from 1Q 2024). Net income: JP¥266.0m (down 5.0% from 1Q 2024). Profit margin: 14% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,517, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Interactive Media and Services industry in Japan. Total loss to shareholders of 15% over the past three years. Announcement • Jun 28
ITmedia Inc. to Report Q1, 2025 Results on Aug 05, 2024 ITmedia Inc. announced that they will report Q1, 2025 results on Aug 05, 2024 New Risk • May 04
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% 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 Risk High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.5%). Announcement • Mar 02
ITmedia Inc. to Report Fiscal Year 2024 Results on May 01, 2024 ITmedia Inc. announced that they will report fiscal year 2024 results on May 01, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥17.32 (vs JP¥26.33 in 3Q 2023) Third quarter 2024 results: EPS: JP¥17.32 (down from JP¥26.33 in 3Q 2023). Revenue: JP¥1.93b (down 13% from 3Q 2023). Net income: JP¥334.0m (down 36% from 3Q 2023). Profit margin: 17% (down from 24% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 01
ITmedia Inc. Provides Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024 ITmedia Inc. provided year-end dividend guidance for the fiscal year ending March 31, 2024. For the year, the company expects to pay year-end dividend of JPY 100.00 per share against JPY 14.00 per share paid for the same period a year ago. New Risk • Feb 01
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 8.9% 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. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥1,359, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Interactive Media and Services industry in Japan. Total loss to shareholders of 39% over the past three years. Announcement • Nov 26
ITmedia Inc. to Report Q3, 2024 Results on Jan 31, 2024 ITmedia Inc. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥22.19 (vs JP¥26.14 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.19 (down from JP¥26.14 in 2Q 2023). Revenue: JP¥2.04b (down 8.4% from 2Q 2023). Net income: JP¥437.0m (down 16% from 2Q 2023). Profit margin: 21% (down from 23% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥15.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Announcement • Aug 27
ITmedia Inc. to Report Q2, 2024 Results on Oct 31, 2023 ITmedia Inc. announced that they will report Q2, 2024 results on Oct 31, 2023 Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,151, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Interactive Media and Services industry in Japan. Total loss to shareholders of 51% over the past three years. New Risk • Aug 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥14.14 (vs JP¥21.65 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.14 (down from JP¥21.65 in 1Q 2023). Revenue: JP¥1.80b (down 9.0% from 1Q 2023). Net income: JP¥280.0m (down 35% from 1Q 2023). Profit margin: 16% (down from 22% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Aug 01
ITmedia Inc. (TSE:2148) announces an Equity Buyback for 500,000 shares, representing 2.4% for ¥650 million. ITmedia Inc. (TSE:2148) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 2.40 % of its issued share capital (excluding treasury stock) for ¥800 million. The purpose of the program is to strengthen shareholder returns and flexibly to implement capital policies in response to changes in the business environment. The program will run until October 31, 2023. As of June 30, 2023, the company had 20,868,900 shares in issue (excluding treasury stock) and 1,072,098 shares in treasury. Announcement • May 28
ITmedia Inc. to Report Q1, 2024 Results on Jul 31, 2023 ITmedia Inc. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥99.79 (up from JP¥90.89 in FY 2022). Revenue: JP¥8.75b (up 8.2% from FY 2022). Net income: JP¥1.97b (up 9.7% from FY 2022). Profit margin: 23% (in line with FY 2022). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 1.3%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥26.33 (vs JP¥24.71 in 3Q 2022) Third quarter 2023 results: EPS: JP¥26.33 (up from JP¥24.71 in 3Q 2022). Revenue: JP¥2.21b (up 10% from 3Q 2022). Net income: JP¥521.0m (up 6.8% from 3Q 2022). Profit margin: 24% (in line with 3Q 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Nov 27
ITmedia Inc. to Report Q3, 2023 Results on Jan 31, 2023 ITmedia Inc. announced that they will report Q3, 2023 results on Jan 31, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Toshitada Takahashi 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. Insufficient board refreshment. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥26.19 (vs JP¥23.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥26.19 (up from JP¥23.49 in 2Q 2022). Revenue: JP¥2.23b (up 14% from 2Q 2022). Net income: JP¥518.0m (up 11% from 2Q 2022). Profit margin: 23% (in line with 2Q 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Interactive Media and Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
ITmedia Inc. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2023 ITmedia Inc. expected to pay dividend of JPY 14.00 per share for the fiscal year ending March 31, 2023 compared to JPY 12 per share paid a year ago. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Announcement • Aug 31
ITmedia Inc. to Report Q2, 2023 Results on Oct 31, 2022 ITmedia Inc. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥21.65 (vs JP¥19.53 in 1Q 2022) First quarter 2023 results: EPS: JP¥21.65 (up from JP¥19.53 in 1Q 2022). Revenue: JP¥1.98b (up 13% from 1Q 2022). Net income: JP¥428.0m (up 11% from 1Q 2022). Profit margin: 22% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 7.9%, compared to a 12% growth forecast for the 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 only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • Jul 30
Itmedia Inc. Announces Earnings Guidance for the Year Ending March 31, 2023 ITmedia Inc. announced earnings guidance for the year ending March 31, 2023. For the year ending March 31, 2023, net sales to be ¥8,730 million. Operating profit to be ¥2,920 million. Profit to be ¥1,970 million or Basic earnings per share of ¥99.66. Announcement • May 29
ITmedia Inc. to Report Q1, 2023 Results on Jul 29, 2022 ITmedia Inc. announced that they will report Q1, 2023 results on Jul 29, 2022 Announcement • May 02
ITmedia Inc., Annual General Meeting, Jun 23, 2022 ITmedia Inc., Annual General Meeting, Jun 23, 2022. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥90.89 (up from JP¥63.32 in FY 2021). Revenue: JP¥8.09b (up 17% from FY 2021). Net income: JP¥1.80b (up 43% from FY 2021). Profit margin: 22% (up from 18% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 8.7%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 55% per year. Price Target Changed • Apr 27
Price target increased to JP¥3,000 Up from JP¥1,300, the current price target is an average from 2 analysts. New target price is 77% above last closing price of JP¥1,697. Stock is down 10% over the past year. The company is forecast to post earnings per share of JP¥89.85 for next year compared to JP¥63.32 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Toshitada Takahashi 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. Insufficient board refreshment. Announcement • Apr 07
ITmedia Inc. to Report Fiscal Year 2022 Results on Apr 28, 2022 ITmedia Inc. announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (1.3%). Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥24.72 (up from JP¥20.08 in 3Q 2021). Revenue: JP¥2.00b (up 14% from 3Q 2021). Net income: JP¥488.3m (up 23% from 3Q 2021). Profit margin: 24% (up from 23% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 11%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥23.54 (vs JP¥16.95 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥1.96b (up 17% from 2Q 2021). Net income: JP¥468.0m (up 39% from 2Q 2021). Profit margin: 24% (up from 20% in 2Q 2021). The increase in margin 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 increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.0%). Reported Earnings • Jun 29
Full year 2021 earnings released: EPS JP¥63.32 (vs JP¥34.78 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥6.89b (up 31% from FY 2020). Net income: JP¥1.26b (up 83% from FY 2020). Profit margin: 18% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 25
ITmedia Inc. (TSE:2148) announces an Equity Buyback for 400,000 shares, representing 2.01% for ¥800 million. ITmedia Inc. (TSE:2148) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 2.01% of its issued share capital (excluding treasury stock), at ¥2,000 per share, for ¥800 million. The purpose of the program is to strengthen shareholder returns and flexibly to implement capital policies in response to changes in the business environment. The program will run until October 31, 2021. As of May 31, 2021, the company had 19,931,726 shares in issue (excluding treasury stock) and 600,874 shares in treasury. Announcement • May 28
ITmedia Inc. (TSE:2148) agreed to acquire RPA BANK, Inc from RPA Holdings, Inc. (TSE:6572). ITmedia Inc. (TSE:2148) agreed to acquire RPA BANK, Inc from RPA Holdings, Inc. (TSE:6572) on May 27, 2021. The transaction is expected to complete on September 1, 2021. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥1,580, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 33x in the Interactive Media and Services industry in Japan. Total returns to shareholders of 131% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,754 per share. Major Estimate Revision • May 07
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥80.14 to JP¥90.82. Revenue forecast unchanged at JP¥8.70b. Net income forecast to grow 43% next year vs 16% growth forecast for Interactive Media and Services industry in Japan. Consensus price target of JP¥3,000 unchanged from last update. Share price was steady at JP¥1,929 over the past week. Reported Earnings • May 03
Full year 2021 earnings released: EPS JP¥63.32 (vs JP¥34.78 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥6.89b (up 31% from FY 2020). Net income: JP¥1.26b (up 83% from FY 2020). Profit margin: 18% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 39% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.2%). Announcement • Mar 04
ITmedia Inc. to Report Fiscal Year 2021 Results on Apr 30, 2021 ITmedia Inc. announced that they will report fiscal year 2021 results on Apr 30, 2021 Is New 90 Day High Low • Feb 15
New 90-day low: JP¥2,053 The company is down 7.0% from its price of JP¥2,205 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Interactive Media and Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,522 per share. Announcement • Jan 30
ITmedia Inc. to Report Q3, 2021 Results on Jan 28, 2021 ITmedia Inc. announced that they will report Q3, 2021 results on Jan 28, 2021 Analyst Estimate Surprise Post Earnings • Jan 30
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 4.5%. Over the next year, revenue is forecast to grow 16%, compared to a 12% growth forecast for the Interactive Media and Services industry in Japan. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥20.17 (vs JP¥13.93 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥1.75b (up 31% from 3Q 2020). Net income: JP¥399.8m (up 45% from 3Q 2020). Profit margin: 23% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 28
New 90-day low: JP¥2,094 The company is down 13% from its price of JP¥2,413 on 30 October 2020. The Japanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Interactive Media and Services industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,533 per share. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥2,104 The company is down 20% from its price of JP¥2,621 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 Interactive Media and Services industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,531 per share. Price Target Changed • Dec 01
Price target raised to JP¥3,000 Up from JP¥1,300, the current price target is an average from 3 analysts. The new target price is 12% above the current share price of JP¥2,668. As of last close, the stock is up 243% over the past year.