Reported Earnings • May 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥31.65 (up from JP¥23.17 in FY 2025). Revenue: JP¥94.4b (up 13% from FY 2025). Net income: JP¥11.3b (up 33% from FY 2025). Profit margin: 12% (up from 10% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Systena Corporation, Annual General Meeting, Jun 25, 2026 Systena Corporation, Annual General Meeting, Jun 25, 2026. Announcement • May 09
Systena Corporation to Report Fiscal Year 2026 Results on May 13, 2026 Systena Corporation announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥8.68 (up from JP¥6.13 in 3Q 2025). Revenue: JP¥23.1b (up 13% from 3Q 2025). Net income: JP¥3.10b (up 42% from 3Q 2025). Profit margin: 13% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.4%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 03
First half dividend of JP¥7.00 announced Shareholders will receive a dividend of JP¥7.00. Ex-date: 30th March 2026 Payment date: 8th June 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 22% 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. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 18
OFI·01 Corporation completed the acquisition of I-Net Corp. (TSE:9600) from group of shareholders. OFI·01 Corporation proposed to acquire I-Net Corp. (TSE:9600) from group of shareholders for ¥38.6 billion on October 2, 2025. A cash consideration of ¥38.6 billion valued at ¥2530 per share will be paid by OFI·01 Corporation. As part of consideration, ¥38.6 billion is paid towards common equity of I-Net Corp. The Offeror may also implement an absorption-type merger with the Company (the “Merger”) following the completion of the Squeeze-Out Procedures. In the Tender Offer, the Offeror has set the minimum number of shares to be purchased at 10,171,800 shares (ownership ratio: 66.67%). If the total number of Shares, tendered in the Tender Offer (the “Tendered Shares”) is less than the minimum number of shares to be purchased (10,171,800 shares), the Offeror will not purchase any of the Tendered Shares. Tender Offer Period will start from October 3, 2025 to November 17, 2025.
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor for I-Net Corp. Mori Hamada & Matsumoto LPC acted as legal advisor for I-Net Corp.
OFI·01 Corporation completed the acquisition of I-Net Corp. (TSE:9600) from group of shareholders on November 17, 2025. As of today, the Company received a report on the results of the Tender Offer from the Offeror which stated to the effect that because the Tender Offer was successfully completed as a result of the fact that 12,907,969 shares of the Company Shares were tendered and the number of the Company Shares tendered in the Tender Offer reached the minimum number of shares to be purchased (10,171,800 shares), the Offeror will therefore acquire all of such Company Shares. The commencement date of the settlement of the Tender Offer will be on November 25, 2025. Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥8.15 (vs JP¥5.23 in 2Q 2025) Second quarter 2026 results: EPS: JP¥8.15 (up from JP¥5.23 in 2Q 2025). Revenue: JP¥24.4b (up 20% from 2Q 2025). Net income: JP¥2.91b (up 53% from 2Q 2025). Profit margin: 12% (up from 9.4% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 10
Systena Corporation to Report Q3, 2026 Results on Feb 05, 2026 Systena Corporation announced that they will report Q3, 2026 results on Feb 05, 2026 Announcement • Oct 02
OFI·01 Corporation proposed to acquire I-Net Corp. (TSE:9600) from group of shareholders for ¥38.6 billion. OFI·01 Corporation proposed to acquire I-Net Corp. (TSE:9600) from group of shareholders for ¥38.6 billion on October 2, 2025. A cash consideration of ¥38.6 billion valued at ¥2530 per share will be paid by OFI·01 Corporation. As part of consideration, ¥38.6 billion is paid towards common equity of I-Net Corp.
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor for I-Net Corp. Mori Hamada & Matsumoto LPC acted as legal advisor for I-Net Corp. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Price Target Changed • Sep 11
Price target increased by 13% to JP¥450 Up from JP¥400, the current price target is an average from 3 analysts. New target price is 11% below last closing price of JP¥506. Stock is up 35% over the past year. The company is forecast to post earnings per share of JP¥27.67 for next year compared to JP¥23.17 last year. Announcement • Sep 01
Systena Corporation to Report Q2, 2026 Results on Oct 30, 2025 Systena Corporation announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥7.24 (vs JP¥4.73 in 1Q 2025) First quarter 2026 results: EPS: JP¥7.24 (up from JP¥4.73 in 1Q 2025). Revenue: JP¥22.6b (up 14% from 1Q 2025). Net income: JP¥2.59b (up 43% from 1Q 2025). Profit margin: 12% (up from 9.2% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥475, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Software industry in Japan. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥507 per share. Declared Dividend • Jul 09
Final dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 20% 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. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 03
Systena Corporation to Report Q1, 2026 Results on Jul 31, 2025 Systena Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jun 21
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥23.17 (up from JP¥18.67 in FY 2024). Revenue: JP¥83.6b (up 8.7% from FY 2024). Net income: JP¥8.48b (up 17% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software 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 fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 20
Systena Corporation Announces Executive Appointments Systena Corporation at its meeting held on June 20, 2025 announced that Seiichiro Nishikawa is appointed as Director apart from being Senior Corporate Officer,General Manager, Digital Integration Group, Yoichi Narikawa is appointed as Executive Managing Corporate Officer, General Manager, Next Generation Mobility, Mitsuaki Tanaka is appointed as Senior Corporate Officer, Representative Director and President of Systena America Inc. Assistant to Senior Managing Director,Fumiaki Nezu is appointed as Corporate Officer Representative Director and President of Tokyoto Business Service Co. Ltd. as of June 20, 2025. Buy Or Sell Opportunity • Jun 13
Now 20% undervalued Over the last 90 days, the stock has risen 12% to JP¥406. The fair value is estimated to be JP¥510, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 6.4% per annum over the same time period. Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥23.17 (up from JP¥18.67 in FY 2024). Revenue: JP¥83.6b (up 8.7% from FY 2024). Net income: JP¥8.48b (up 17% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software 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 fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 13
Systena Corporation, Annual General Meeting, Jun 20, 2025 Systena Corporation, Annual General Meeting, Jun 20, 2025. Announcement • Mar 27
Systena Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Systena Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 09 June 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Price Target Changed • Feb 25
Price target increased by 9.1% to JP¥400 Up from JP¥367, the current price target is an average from 3 analysts. New target price is 14% above last closing price of JP¥350. Stock is up 21% over the past year. The company is forecast to post earnings per share of JP¥21.90 for next year compared to JP¥18.67 last year. Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: JP¥6.13 (up from JP¥4.82 in 3Q 2024). Revenue: JP¥20.5b (up 4.3% from 3Q 2024). Net income: JP¥2.19b (up 17% from 3Q 2024). Profit margin: 11% (up from 9.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jan 18
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from JP¥85.6b to JP¥84.6b. EPS estimate rose from JP¥21.04 to JP¥23.65. Net income forecast to grow 13% next year vs 25% growth forecast for Software industry in Japan. Consensus price target of JP¥390 unchanged from last update. Share price fell 3.1% to JP¥343 over the past week. Buy Or Sell Opportunity • Dec 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to JP¥365. The fair value is estimated to be JP¥466, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Declared Dividend • Dec 04
First half dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 28th March 2025 Payment date: 9th June 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 20% 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. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥5.23 (up from JP¥4.53 in 2Q 2024). Revenue: JP¥20.3b (up 8.3% from 2Q 2024). Net income: JP¥1.91b (up 8.8% from 2Q 2024). Profit margin: 9.4% (up from 9.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.2%). Major Estimate Revision • Sep 18
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥19.78 to JP¥22.75. Revenue forecast steady at JP¥85.4b. Net income forecast to grow 3.1% next year vs 14% growth forecast for Software industry in Japan. Consensus price target up from JP¥343 to JP¥367. Share price was steady at JP¥373 over the past week. Price Target Changed • Sep 17
Price target increased by 12% to JP¥367 Up from JP¥328, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥374. Stock is up 35% over the past year. The company is forecast to post earnings per share of JP¥22.75 for next year compared to JP¥18.67 last year. Announcement • Aug 22
Systena Corporation (TSE:2317) announces an Equity Buyback for 5,000,000 shares, representing 1.37% for ¥2,000 million. Systena Corporation (TSE:2317) announces a share repurchase program. Under the program, the company will repurchase 5,000,000 shares, representing 1.37% of the outstanding shares, for ¥2,000 million. The purpose of the program is to enable greater return of profits to shareholders and the implementation of flexible capital policies in response to changes in the business environment. The program will expire on October 31, 2024. As of August 21, 2024, the company had 364,008,445 shares outstanding and 86,871,555 shares in treasury. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥4.73 (vs JP¥3.15 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.73 (up from JP¥3.15 in 1Q 2024). Revenue: JP¥19.7b (up 5.4% from 1Q 2024). Net income: JP¥1.82b (up 49% from 1Q 2024). Profit margin: 9.2% (up from 6.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. 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 13% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 11
Final dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 20% 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. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥18.67 (down from JP¥18.89 in FY 2023). Revenue: JP¥76.9b (up 3.2% from FY 2023). Net income: JP¥7.23b (down 1.2% from FY 2023). Profit margin: 9.4% (in line with FY 2023). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 6.6%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. 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 16% per year, which means it is significantly lagging earnings. Announcement • Jun 02
Systena Corporation to Report Q1, 2025 Results on Jul 31, 2024 Systena Corporation announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 16
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥18.67 (down from JP¥18.89 in FY 2023). Revenue: JP¥76.9b (up 3.2% from FY 2023). Net income: JP¥7.23b (down 1.2% from FY 2023). Profit margin: 9.4% (in line with FY 2023). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 6.6%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. 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 16% per year, which means it is significantly lagging earnings. Announcement • May 14
Systena Corporation (TSE:2317) announces an Equity Buyback for 25,000,000 shares, representing 6.43% for ¥10,000 million. Systena Corporation (TSE:2317) announces a share repurchase program. Under the program, the company will repurchase 25,000,000 shares, representing 6.43% of the outstanding shares, for ¥10,000 million. The purpose of the program is to enable greater return of profits to shareholders and the implementation of flexible capital policies in response to changes in the business environment. The program will expire on May 13, 2025. As of March 31, 2024, the company had 389,008,512 shares outstanding and 61,871,488 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.3%). Announcement • Mar 19
Systena Corporation, Annual General Meeting, Jun 21, 2024 Systena Corporation, Annual General Meeting, Jun 21, 2024. Announcement • Mar 02
Systena Corporation to Report Fiscal Year 2024 Results on May 13, 2024 Systena Corporation announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: JP¥4.82 (up from JP¥4.71 in 3Q 2023). Revenue: JP¥19.6b (up 5.9% from 3Q 2023). Net income: JP¥1.87b (up 2.4% from 3Q 2023). Profit margin: 9.5% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. 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 17% per year, which means it is significantly lagging earnings. Announcement • Nov 29
Systena Corporation to Report Q3, 2024 Results on Feb 06, 2024 Systena Corporation announced that they will report Q3, 2024 results on Feb 06, 2024 Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥305, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 24x in the Software industry in Japan. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥447 per share. Reported Earnings • Oct 28
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥4.53 (down from JP¥4.64 in 2Q 2023). Revenue: JP¥18.8b (up 3.4% from 2Q 2023). Net income: JP¥1.76b (down 2.4% from 2Q 2023). Profit margin: 9.3% (in line with 2Q 2023). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.7%). Announcement • Aug 27
Systena Corporation to Report Q2, 2024 Results on Oct 26, 2023 Systena Corporation announced that they will report Q2, 2024 results on Oct 26, 2023 Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥3.15 (vs JP¥3.32 in 1Q 2023) First quarter 2024 results: EPS: JP¥3.15 (down from JP¥3.32 in 1Q 2023). Revenue: JP¥18.7b (up 6.3% from 1Q 2023). Net income: JP¥1.22b (down 5.1% from 1Q 2023). Profit margin: 6.5% (down from 7.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 28
Price target decreased by 9.1% to JP¥325 Down from JP¥358, the current price target is an average from 4 analysts. New target price is 21% above last closing price of JP¥268. Stock is down 41% over the past year. The company is forecast to post earnings per share of JP¥18.09 for next year compared to JP¥18.89 last year. Buying Opportunity • Jul 20
Now 22% undervalued Over the last 90 days, the stock is up 5.1%. The fair value is estimated to be JP¥371, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings is also forecast to grow by 4.7% per annum over the same time period. Buying Opportunity • Jul 01
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥368, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings is also forecast to grow by 5.2% per annum over the same time period. Reported Earnings • Jun 24
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥18.89 (up from JP¥15.47 in FY 2022). Revenue: JP¥74.5b (up 14% from FY 2022). Net income: JP¥7.32b (up 22% from FY 2022). Profit margin: 9.8% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 28
Systena Corporation to Report Q1, 2024 Results on Jul 27, 2023 Systena Corporation announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • May 13
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥18.89 (up from JP¥15.47 in FY 2022). Revenue: JP¥74.5b (up 14% from FY 2022). Net income: JP¥7.32b (up 22% from FY 2022). Profit margin: 9.8% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 12
Systena Corporation, Annual General Meeting, Jun 21, 2023 Systena Corporation, Annual General Meeting, Jun 21, 2023. Agenda: Annual General Meeting. Buying Opportunity • Apr 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be JP¥360, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 7.9%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥4.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Price Target Changed • Feb 28
Price target decreased by 13% to JP¥450 Down from JP¥518, the current price target is an average from 4 analysts. New target price is 41% above last closing price of JP¥320. Stock is down 26% over the past year. The company is forecast to post earnings per share of JP¥18.29 for next year compared to JP¥15.47 last year. Reported Earnings • Feb 03
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: JP¥4.71 (up from JP¥4.25 in 3Q 2022). Revenue: JP¥18.5b (up 15% from 3Q 2022). Net income: JP¥1.82b (up 11% from 3Q 2022). Profit margin: 9.8% (in line with 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 27
Systena Corporation to Report Q3, 2023 Results on Feb 02, 2023 Systena Corporation announced that they will report Q3, 2023 results on Feb 02, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Mari Ito was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥4.64 (up from JP¥3.55 in 2Q 2022). Revenue: JP¥18.2b (up 17% from 2Q 2022). Net income: JP¥1.80b (up 31% from 2Q 2022). Profit margin: 9.9% (up from 8.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥4.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.8%). Announcement • Aug 28
Systena Corporation to Report Q2, 2023 Results on Oct 27, 2022 Systena Corporation announced that they will report Q2, 2023 results on Oct 27, 2022 Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥3.32 (vs JP¥2.95 in 1Q 2022) First quarter 2023 results: EPS: JP¥3.32 (up from JP¥2.95 in 1Q 2022). Revenue: JP¥17.6b (up 15% from 1Q 2022). Net income: JP¥1.29b (up 12% from 1Q 2022). Profit margin: 7.3% (down from 7.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.3%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Announcement • Jul 29
Systena Corporation Provides Earnings Guidance for the Fiscal Year Ending March 31, 2023 Systena Corporation provides earnings guidance for the fiscal year ending March 31, 2023. For the year, company expects net sales to be JPY 71,450 million, operating profit to be JPY 10,280 million, profit attributable to owners of parent to be JPY 7,000 million and basic earnings per share to be JPY 18.07 per share.