New Risk • Jun 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Market cap is less than US$100m (JP¥8.81b market cap, or US$54.6m). Announcement • Jun 13
Quest Co., Ltd. to Report Q1, 2027 Results on Aug 13, 2026 Quest Co., Ltd. announced that they will report Q1, 2027 results on Aug 13, 2026 Reported Earnings • May 18
Full year 2026 earnings released: EPS: JP¥152 (vs JP¥143 in FY 2025) Full year 2026 results: EPS: JP¥152 (up from JP¥143 in FY 2025). Revenue: JP¥17.8b (up 19% from FY 2025). Net income: JP¥800.0m (up 4.3% from FY 2025). Profit margin: 4.5% (down from 5.1% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Quest Co., Ltd., Annual General Meeting, Jun 24, 2026 Quest Co., Ltd., Annual General Meeting, Jun 24, 2026. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,758, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 14x in the IT industry in Japan. Total returns to shareholders of 53% over the past three years. Announcement • Apr 02
Quest Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Quest Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥41.39 (vs JP¥36.88 in 3Q 2025) Third quarter 2026 results: EPS: JP¥41.39 (up from JP¥36.88 in 3Q 2025). Revenue: JP¥4.45b (up 18% from 3Q 2025). Net income: JP¥214.0m (up 8.2% from 3Q 2025). Profit margin: 4.8% (down from 5.2% in 3Q 2025). The decrease in margin was driven by higher expenses. 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 9% per year. New Risk • Jan 28
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: Minor Risks Dividend is not well covered by cash flows (149% cash payout ratio). Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (JP¥10.2b market cap, or US$66.7m). Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥2,000, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 63% over the past three years. Announcement • Dec 03
Quest Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Quest Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Nov 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 148% Dividend yield: 3.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (148% cash payout ratio). Market cap is less than US$100m (JP¥8.26b market cap, or US$52.4m). Declared Dividend • Nov 17
Dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 6.2% 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. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 29
Quest Co., Ltd. (TSE:2332) announces an Equity Buyback for 270,000 shares, representing 4.92% for ¥403.38 million. Quest Co., Ltd. (TSE:2332) announces a share repurchase program. Under the program, the company will repurchase up to 270,000 shares, representing 4.92% of its issued share capital (excluding treasury stock), for a total purchase price of ¥403.38 million. The shares will be repurchased at a price of ¥1,494 per share. The purpose of the program is to improve capital efficiency. As of March 31, 2025, the company has 5,487,768 issued shares (excluding treasury stock) and 133,102 treasury shares. Announcement • Sep 06
Quest Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Quest Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: JP¥28.39 (vs JP¥33.27 in 1Q 2025) First quarter 2026 results: EPS: JP¥28.39 (down from JP¥33.27 in 1Q 2025). Revenue: JP¥4.38b (up 21% from 1Q 2025). Net income: JP¥152.0m (down 15% from 1Q 2025). Profit margin: 3.5% (down from 4.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Announcement • Jun 04
Quest Co., Ltd. to Report Q1, 2026 Results on Aug 14, 2025 Quest Co., Ltd. announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥143 (vs JP¥130 in FY 2024) Full year 2025 results: EPS: JP¥143 (up from JP¥130 in FY 2024). Revenue: JP¥14.9b (up 5.0% from FY 2024). Net income: JP¥767.0m (up 10% from FY 2024). Profit margin: 5.1% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Announcement • May 15
Quest Co., Ltd., Annual General Meeting, Jun 24, 2025 Quest Co., Ltd., Annual General Meeting, Jun 24, 2025. Announcement • Apr 16
Quest Co., Ltd. (TSE:2332) completed the acquisition of Sept Inc. Quest Co., Ltd. (TSE:2332) agreed to acquire Sept Inc. for ¥370 million on March 26, 2025. A cash consideration of ¥370 million will be paid by Quest Co., Ltd. As part of consideration, ¥370 million is paid towards common equity of Sept Inc.
For the fiscal year ended October 31, 2024, XYZ Corporation reported revenue of ¥1.4 billion. Despite the substantial revenue, the company faced operational challenges, resulting in an operating loss of ¥11.6 million.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is April 15, 2025.
Quest Co., Ltd. (TSE:2332) completed the acquisition of Sept Inc. on April 15, 2025. Announcement • Mar 27
Quest Co., Ltd. (TSE:2332) agreed to acquire Sept Inc. for ¥370 million. Quest Co., Ltd. (TSE:2332) agreed to acquire Sept Inc. for ¥370 million on March 26, 2025. A cash consideration of ¥370 million will be paid by Quest Co., Ltd. As part of consideration, ¥370 million is paid towards common equity of Sept Inc.
For the fiscal year ended October 31, 2024, XYZ Corporation reported revenue of ¥1.4 billion. Despite the substantial revenue, the company faced operational challenges, resulting in an operating loss of ¥11.6 million.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is April 15, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Mar 19
Quest Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Quest Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥36.93 (vs JP¥44.64 in 3Q 2024) Third quarter 2025 results: EPS: JP¥36.93 (down from JP¥44.64 in 3Q 2024). Revenue: JP¥3.77b (up 5.2% from 3Q 2024). Net income: JP¥198.0m (down 17% from 3Q 2024). Profit margin: 5.2% (down from 6.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Announcement • Dec 05
Quest Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Quest Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Declared Dividend • Nov 13
Dividend of JP¥49.00 announced Dividend of JP¥49.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 5.0% 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. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 21
Quest Co., Ltd. to Report Q2, 2025 Results on Nov 11, 2024 Quest Co., Ltd. announced that they will report Q2, 2025 results on Nov 11, 2024 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¥1,100, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 25% over the past three years. Reported Earnings • Jun 28
Full year 2024 earnings released: EPS: JP¥130 (vs JP¥129 in FY 2023) Full year 2024 results: EPS: JP¥130 (up from JP¥129 in FY 2023). Revenue: JP¥14.2b (flat on FY 2023). Net income: JP¥696.0m (flat on FY 2023). Profit margin: 4.9% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Announcement • Jun 20
Quest Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Quest Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥130 (vs JP¥129 in FY 2023) Full year 2024 results: EPS: JP¥130 (up from JP¥129 in FY 2023). Revenue: JP¥14.2b (flat on FY 2023). Net income: JP¥696.0m (flat on FY 2023). Profit margin: 4.9% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Apr 02
Quest Co., Ltd., Annual General Meeting, Jun 21, 2024 Quest Co., Ltd., Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 11
Quest Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Quest Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥44.64 (vs JP¥16.26 in 3Q 2023) Third quarter 2024 results: EPS: JP¥44.64 (up from JP¥16.26 in 3Q 2023). Revenue: JP¥3.59b (flat on 3Q 2023). Net income: JP¥239.0m (up 175% from 3Q 2023). Profit margin: 6.7% (up from 2.4% in 3Q 2023). 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 5% per year, which means it is significantly lagging earnings. Announcement • Dec 03
Quest Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Quest Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥39.22 (vs JP¥16.26 in 2Q 2023) Second quarter 2024 results: EPS: JP¥39.22 (up from JP¥16.26 in 2Q 2023). Revenue: JP¥3.55b (down 1.8% from 2Q 2023). Net income: JP¥210.0m (up 141% from 2Q 2023). Profit margin: 5.9% (up from 2.4% in 2Q 2023). The increase in margin was driven by lower expenses. 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 2% per year, which means it is significantly lagging earnings. Announcement • Sep 08
Quest Co., Ltd. to Report Q2, 2024 Results on Nov 09, 2023 Quest Co., Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (JP¥6.64b market cap, or US$46.3m). Buying Opportunity • Aug 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥1,600, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 26%. Announcement • Jun 02
Quest Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023 Quest Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥43.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Buying Opportunity • Jan 13
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,500, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last year. Earnings per share has grown by 63%. Announcement • Nov 30
Quest Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Quest Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 2 independent directors. 10 non-independent directors. Independent Outside Director Yukari Soshi was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Sep 29
Quest Co., Ltd. to Report Q2, 2023 Results on Nov 07, 2022 Quest Co., Ltd. announced that they will report Q2, 2023 results on Nov 07, 2022 Announcement • Jun 03
Quest Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Quest Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Announcement • May 14
Quest Co., Ltd., Annual General Meeting, Jun 23, 2022 Quest Co., Ltd., Annual General Meeting, Jun 23, 2022. Board Change • Apr 27
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. 7 non-independent directors. Independent Outside Director Yukari Soshi was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Quest Co., Ltd. to Report Fiscal Year 2022 Results on May 12, 2022 Quest Co., Ltd. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 05
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥42.37 (down from JP¥42.81 in 3Q 2021). Revenue: JP¥2.99b (up 4.3% from 3Q 2021). Net income: JP¥219.9m (flat on 3Q 2021). Profit margin: 7.4% (down from 7.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Nov 01
Second quarter 2022 earnings released: EPS JP¥33.21 (vs JP¥31.69 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: JP¥2.90b (up 6.5% from 2Q 2021). Net income: JP¥172.3m (up 4.9% from 2Q 2021). Profit margin: 5.9% (down from 6.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,849, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 21x in the IT industry in Japan. Total returns to shareholders of 113% over the past three years. Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS JP¥30.07 (vs JP¥21.16 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥2.86b (up 12% from 1Q 2021). Net income: JP¥155.9m (up 42% from 1Q 2021). Profit margin: 5.5% (up from 4.3% in 1Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 24% share price gain to JP¥1,792, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 25x in the IT industry in Japan. Total returns to shareholders of 107% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 19 June 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Announcement • Mar 06
Quest Co., Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Quest Co., Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Jan 29
New 90-day high: JP¥1,410 The company is up 15% from its price of JP¥1,229 on 30 October 2020. The Japanese market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥1,193 The company is down 19% from its price of JP¥1,469 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 IT industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day low: JP¥1,219 The company is down 7.0% from its price of JP¥1,305 on 21 August 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: JP¥1,229 The company is down 8.0% from its price of JP¥1,330 on 31 July 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 3.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: JP¥1,430 The company is up 13% from its price of JP¥1,270 on 19 June 2020. The Japanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 7.0% over the same period. Announcement • Sep 04
Quest Co., Ltd. to Report Q2, 2021 Results on Oct 30, 2020 Quest Co., Ltd. announced that they will report Q2, 2021 results on Oct 30, 2020