Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,387, the stock trades at a trailing P/E ratio of 44.9x. Average trailing P/E is 17x in the Software industry in Japan. Total returns to shareholders of 87% over the past three years. Reported Earnings • May 18
Second quarter 2026 earnings released: EPS: JP¥15.94 (vs JP¥22.73 in 2Q 2025) Second quarter 2026 results: EPS: JP¥15.94 (down from JP¥22.73 in 2Q 2025). Revenue: JP¥2.91b (up 18% from 2Q 2025). Net income: JP¥514.8m (down 30% from 2Q 2025). Profit margin: 18% (down from 30% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% 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 • May 16
Dividend of JP¥19.00 announced Shareholders will receive a dividend of JP¥19.00. Ex-date: 29th September 2026 Payment date: 18th December 2026 Dividend yield will be 1.2%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,581, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 17x in the Software industry in Japan. Total returns to shareholders of 19% over the past three years. New Risk • May 11
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 7.0% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,399, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 18x in the Software industry in Japan. Total returns to shareholders of 2.6% over the past three years. Announcement • Apr 11
Fixstars Corporation Announces Major Upgrade To Fixstars AIBooster Fixstars Corporation announced a major upgrade to Fixstars AIBooster, significantly enhancing its automated hyperparameter optimization. In recent benchmark tests evaluating AI training performance, Fixstars compared three scenarios: unoptimized, optimized using the previous version, and optimized using the latest version. The results demonstrated that the latest AIBooster identifies superior hyperparameters in approximately 1/16th the time required by previous versions, further accelerating processing speeds and operational efficiency. In the distributed training of Large Language Models (LLMs), numerous parameters—such as tensor parallelism, pipeline parallelism, and micro-batch size—dictate training efficiency. Setting optimal hyperparameters can significantly increase AI training speeds. Traditionally, searching for the ideal combination of hyperparameters required deep expertise and extensive trial and error, placing a heavy burden on engineers. Fixstars AIBooster automates this search process, allowing engineers to focus on higher-value development tasks. By improving AI training efficiency, organizations can achieve the following: Reduced AI Investment Costs: Maximize the utilization of limited GPU assets. Efficient operation reduces hardware procurement costs and power consumption. Enhanced Accuracy via Rapid Iteration: Faster training cycles allow for more frequent iterations, resulting in higher-precision AI models and improving both the speed and quality of AI development. Fixstars has implemented two new proprietary algorithms—Heuristic Search and Staged BlackBox Search—specifically designed for hyperparameter exploration using domain knowledge of Megatron Core parallelization strategies. Benchmarks conducted using Qwen3-Omni-30B supervised fine-tuning (SFT) on an NVIDIA A100 x 16 GPU environment yielded the following results: Heuristic Search: Achieved 1.52x faster training (118.6 TFLOP/s/GPU) in just 2 hours—reaching 1.7x speedup 150x faster than previous methods. Staged BlackBox Search: Delivered 1.79x speedup (140.0 TFLOP/s/GPU) in 18 hours, finding optimal parameters 16x faster than conventional methods. Users can now choose the best approach for their needs: Heuristic Search for rapid practical speedups or Staged BlackBox Search for maximum performance. The latest version introduces a no-code feature, allowing users to execute tuning via command-line operations without writing Python scripts. This enables engineers without specialized optimization backgrounds to leverage high-precision hyperparameter tuning immediately. Fixstars AIBooster is a solution designed to optimize the efficiency of computational resources and unlock peak performance for AI workloads, including AI training and inference. It primarily offers the following three pillars: 1) Performance Observability (PO): Continuously visualizes hardware (GPU) and software execution profiles to identify performance fluctuations and bottlenecks. 2) Performance Intelligence (PI): Drives continuous improvement through bottleneck analysis, automated acceleration, AI agent-driven suggestions, and expert reviews. 3) Optimized AI Infrastructure: Provides tailored infrastructure—whether public, private cloud, or on-premises—leveraging data-driven insights from PO and PI. Buy Or Sell Opportunity • Mar 13
Now 22% overvalued Over the last 90 days, the stock has fallen 7.8% to JP¥1,481. The fair value is estimated to be JP¥1,218, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 18%. Buy Or Sell Opportunity • Feb 17
Now 21% overvalued Over the last 90 days, the stock has fallen 7.2% to JP¥1,484. The fair value is estimated to be JP¥1,231, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Feb 16
First quarter 2026 earnings released: EPS: JP¥13.92 (vs JP¥18.50 in 1Q 2025) First quarter 2026 results: EPS: JP¥13.92 (down from JP¥18.50 in 1Q 2025). Revenue: JP¥2.53b (up 6.0% from 1Q 2025). Net income: JP¥449.0m (down 25% from 1Q 2025). Profit margin: 18% (down from 25% in 1Q 2025). The decrease in margin was driven by higher expenses. 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 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 13
Now 22% overvalued Over the last 90 days, the stock has fallen 16% to JP¥1,628. The fair value is estimated to be JP¥1,338, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Announcement • Jan 08
Fixstars Corporation Launches Enhanced Aibooster with Advanced Ai Diagnostics and Customizable Observability Fixstars Corporation announced the release of the latest version of its AI processing acceleration platform, "Fixstars AIBooster". The latest version of AIBooster introduces enhanced flexibility and deeper diagnostic capabilities: advanced diagnostic reports for AcuiRT -- AIBooster's integrated framework for inference-optimized AI model conversion -- and customizable performance observability with user-defined metrics and tags. These updates empower engineers to minimize observation overhead while accelerating the development cycle through rapid identification and refactoring of model conversion bottlenecks. Fixstars remains committed to providing the tools necessary for high-performance, cost-effective AI operations, ensuring that customers can achieve seamless and efficient AI deployment across any environment. AcuiRT now features significantly strengthened diagnostic capabilities. Engineers can now resolve deployment issues via CLI or detailed reports featuring: Conversion Result Visualization: Provides a detailed breakdown of conversion success and failure, including layer-by-layer success rates, specific error messages for failed layers, and inference accuracy comparisons for detecting potential degradation. Performance Profiling: Analyzes post-conversion characteristics, including overall inference latency and a layer-by-layer breakdown of processing time to pinpoint bottlenecks. Customizable Performance Observability Tailored to User Environments: The performance observability feature in AIBooster provides a macro view of performance trends across clusters while monitoring hardware efficiency at the node and device levels. In this release, users can now easily customize the following parameters to achieve a more flexible observation experience: Metric Collection Intervals: Users can adjust the granularity of data collection to minimize overhead. For long-term trend analysis, increasing the interval reduces resource consumption, making it easier to deploy in diverse environments. User-Defined Tags for Traces: These tags allow users to classify workloads based on their own criteria, such as model type, execution settings, or specific datasets. This enables deeper performance analysis from unique perspectives. Use Case: Faster and More Reliable Model Conversion for NVIDIA GPUs A 2D object detection model (Detection Transformer: DETR) was converted from a trained PyTorch model to an NVIDIA GPU-optimized format (TensorRT), using AcuiRT. In the initial conversion attempt, only 16% of the model's layers were successfully converted, and because the model was only partially converted, inference performance was worse than before conversion. By leveraging a new diagnostic report feature to identify the failed layers and underlying errors, the model was refactored accordingly. As a result, 100% layer conversion was achieved with just four hours of refactoring, and the converted model demonstrated approximately a 1.25x improvement in inference speed. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Michael A. Cusumano was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Dec 12
Now 20% overvalued Over the last 90 days, the stock has fallen 10% to JP¥1,607. The fair value is estimated to be JP¥1,336, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Buy Or Sell Opportunity • Nov 20
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to JP¥1,630. The fair value is estimated to be JP¥1,351, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Reported Earnings • Nov 18
Full year 2025 earnings released: EPS: JP¥60.33 (vs JP¥46.39 in FY 2024) Full year 2025 results: EPS: JP¥60.33 (up from JP¥46.39 in FY 2024). Revenue: JP¥9.62b (up 20% from FY 2024). Net income: JP¥1.95b (up 30% from FY 2024). Profit margin: 20% (up from 19% in FY 2024). The increase in margin was driven by higher revenue. 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 14% per year, which means it is significantly lagging earnings growth. Announcement • Nov 17
Fixstars Corporation, Annual General Meeting, Dec 17, 2025 Fixstars Corporation, Annual General Meeting, Dec 17, 2025. Announcement • Oct 11
Fixstars Corporation to Report Fiscal Year 2025 Results on Nov 14, 2025 Fixstars Corporation announced that they will report fiscal year 2025 results on Nov 14, 2025 Announcement • Oct 10
Fixstars Corporation Adds Autonomous Optimization Feature for Edge AI Inference to Its AI Acceleration Platform "AIBooster" Fixstars Corporation announced the release of the latest version of its AI processing acceleration platform, "Fixstars AIBooster" (hereinafter "AIBooster"), with significantly expanded performance and features. The latest version of AIBooster features two new functionalities: autonomous optimization via model compression for Edge AI inference, and autonomous hyperparameter optimization for AI training. Furthermore, a new plan offering the performance observation feature as a Software-as-a-Service (SaaS) solution has been introduced to significantly reduce the effort required for initial deployment and allow immediate use. Fixstars will continue to support customers in making their AI development cycles more efficient and faster, enabling AI utilization across various devices. New Features of the latest AIBooster: Autonomous Optimization for Edge AI Inference: When performing AI inference on local devices such as in-vehicle systems or mobile devices (Edge AI inference), limited computing and memory resources make it difficult to run AI models as is. This previously required extensive trial and error to tune models for each device. AIBooster's new autonomous optimization feature solves this by automatically converting AI models for edge devices while maintaining performance. The feature targets models built with the common PyTorch framework and converts them into formats optimized for each device using a model conversion backend. The initial release supports NVIDIA TensorRT, optimizing inference in NVIDIA GPU environments. By automating conversion and applying techniques such as quantization and kernel fusion, it dramatically boosts inference speed while reducing development time. Enhanced Hyperparameter Autonomous Optimization for AI Training: In AI model training, hyperparameters such as batch size and learning rate greatly affect model accuracy and efficiency, but their optimization has traditionally required extensive trial and error. The new autonomous hyperparameter optimization feature integrates tuning across the model, resources, and hardware to maximize overall training performance. Key features include: Integrated Optimization: Balances model accuracy and training efficiency while maximizing resource utilization. Hardware Control: Automatically adjusts CPU core and GPU usage schedules. Distributed Training Support: Operates efficiently in large-scale environments such as Slurm and Kubernetes. The system outputs trial data, initial and optimized settings, and improvement rates for review. By visualizing and automating the optimization process, this feature significantly enhances AI training efficiency and knowledge acquisition. SaaS-based Performance Observation Function: The latest AIBooster introduces a SaaS-based performance observation feature that removes setup complexity and allows users to start immediately. In the SaaS version, performance data from GPU servers is stored in the cloud and visualized in real time on a unified dashboard. It supports multi-cloud and distributed environments, enabling system-, node-, and job-level monitoring on one screen. Fixstars ensures SaaS security to protect customers' AI data, while on-premise installation remains available for flexible deployment. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥2,202, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 25x in the Software industry in Japan. Total returns to shareholders of 121% over the past three years. New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.2% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 19 December 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%). Reported Earnings • Aug 15
Third quarter 2025 earnings released: EPS: JP¥13.49 (vs JP¥7.70 in 3Q 2024) Third quarter 2025 results: EPS: JP¥13.49 (up from JP¥7.70 in 3Q 2024). Revenue: JP¥2.29b (up 20% from 3Q 2024). Net income: JP¥435.0m (up 75% from 3Q 2024). Profit margin: 19% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% 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 21% per year whereas the company’s share price has increased by 18% per year. Announcement • Jul 20
Fixstars Corporation to Report Q3, 2025 Results on Aug 14, 2025 Fixstars Corporation announced that they will report Q3, 2025 results on Aug 14, 2025 Announcement • Jul 09
Fixstars Launches July 2025 Version of Aibooster Fixstars Corporation announced the release of the July 2025 version of its AI workload performance optimization software, "Fixstars AIBooster". As organizations face escalating GPU infrastructure costs, the latest AIBooster release provides powerful new capabilities for visualizing infrastructure operating costs and optimizing AI workload performance. This helps business leaders and AI development teams to streamline their AI infrastructure operations and effectively manage costs. Key Features and Enhancements: Performance Observability: Two tailored dashboard views: Cost Analysis View for Business Leaders; Performance Analysis View for AI Developers; Unified monitoring and management across hybrid environments (cloud and on-premises); Manage AI workloads as jobs and visualize performance metrics on a per-job basis; Capability to collect and visualize metrics from Lustre, a distributed file system widely used in large-scale cluster environments; Enhanced GPU profiling feature, complementing the previously provided flame graph, to quickly identify performance bottlenecks; Performance Intelligence; Automatic collection and visualization of hyperparameter tuning results, significantly accelerating the identification of optimal parameters; Automated tuning capabilities specifically designed for MMEngine and DeepSpeed frameworks; Automatic CPU Affinity optimization to further enhance performance. Declared Dividend • May 20
Dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 29th September 2025 Payment date: 19th December 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 35%. Reported Earnings • May 19
Second quarter 2025 earnings released: EPS: JP¥22.73 (vs JP¥13.19 in 2Q 2024) Second quarter 2025 results: EPS: JP¥22.73 (up from JP¥13.19 in 2Q 2024). Revenue: JP¥2.46b (up 20% from 2Q 2024). Net income: JP¥733.0m (up 73% from 2Q 2024). Profit margin: 30% (up from 21% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% 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 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
Fixstars Corporation Launches Free Download of "Fixstars AI Booster" Software to Visualize and Accelerate AI Processing Bottlenecks Fixstars Corporation announced the launch of a free download version of "Fixstars AI Booster (FAIB)" from its official website. FAIB continuously monitors AI processing performance and automatically optimizes it to improve the utilization efficiency of computing resources such as GPUs in customers' AI development and operation processes, thereby supporting cost reduction. FAIB can be installed on Linux servers equipped with GPUs, whether on-premises or in the cloud. Recent advances in AI have sharply increased the demand for high-performance computing, especially GPUs. To reduce training time and improve inference speed, it's essential to visualize GPU usage and AI processing bottlenecks and continuously optimize them. Since January 2025, Fixstars has provided Fixstars AI Booster (FAIB) to select customers, supporting GPU server selection and performance tuning. Now, FAIB is freely available to a wider audience, helping more organizations and developers enhance GPU performance and eliminate bottlenecks. FAIB is utilized in the autonomous driving AI learning environment being developed by Sony Honda Mobility Inc. for their future mobility brand "AFEELA". It contributes to improving machine learning speed and optimizing hardware performance. In collaboration with Optage Inc. and GMI Cloud Inc., Fixstars is promoting research and development of high-efficiency GPU infrastructure using FAIB. FAIB has also been adopted by companies in industries such as broadcasting and telecommunications, and has a proven track record of enhancing performance. Performance Improvement Cycle with Fixstars AI Booster: As LLM models and parameters evolve, processing efficiency changes. To maintain optimal GPU utilization and consistently high performance, it's essential to repeat the cycle of performance observation and improvement. Fixstars AI Booster supports this cycle through two key features: Performance Observability (PO) and Performance Intelligence (PI). PO continuously records GPU and software usage data, visualizes trends, and helps identify bottlenecks. PI recommendations improvements based on PO data and automates acceleration. It also includes tools for engineers to analyze and optimize performance manually. PI is free for the first month; fees apply based on GPU usage thereafter. Expert support is also available. Product Name Fixstars AI Booster: Main Functions Performance Observability (PO): Visualizes the utilization status of computing resources; Records performance changes over time; FAIB enables unified monitoring across different system architectures, whether in the cloud or on-premises. Performance Intelligence (PI): Estimates processing bottlenecks; Proposes improvements and automates acceleration; Provides various tools to support acceleration by engineers supported Environments; supported Environments; Debian-based Linux (verified on Ubuntu 22.04 LTS). Internet connection is required for installation and updates. Product usage data is collected solely for quality improvement purposes; please be assured that no customer-specific information, such as executed programs or individual performance data, is collected. example Observable Metrics: CPU usage, GPU usage (CUDA core usage), Network usage, Memory usage, Storage usage, Software profiling results at the library and function levels; Fee - PO function: Permanently free; PI function: Free for one month. After that, fees will be incurred depending on the number of GPUs used. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,300, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Software industry in Japan. Total returns to shareholders of 57% over the past three years. Announcement • Mar 27
Fixstars Corporation to Report Q2, 2025 Results on May 14, 2025 Fixstars Corporation announced that they will report Q2, 2025 results on May 14, 2025 Reported Earnings • Feb 07
First quarter 2025 earnings released: EPS: JP¥14.25 (vs JP¥10.47 in 1Q 2024) First quarter 2025 results: EPS: JP¥14.25 (up from JP¥10.47 in 1Q 2024). Revenue: JP¥2.32b (up 25% from 1Q 2024). Net income: JP¥459.0m (up 36% from 1Q 2024). Profit margin: 20% (up from 18% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% 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 24% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Fixstars Corporation to Report Q1, 2025 Results on Feb 06, 2025 Fixstars Corporation announced that they will report Q1, 2025 results on Feb 06, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (8.4% average weekly change). New Risk • Jan 09
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 8.3% 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. This is currently the only risk that has been identified for the company. Announcement • Jan 08
Fixstars Corporation Launches AI Booster, an AI Acceleration Platform Optimizing GPU Utilization Across Diverse Applications Fixstars Corporation announced the launch of AI Booster. AI Booster is an AI acceleration platform designed to instantly and continuously extract maximum performance from AI applications running on a wide range of GPU environments. Delivering immediate and sustained optimization, AI Booster enables organizations to fully leverage their hardware resources, reduce costs, and enhance overall AI system efficiency. With the introduction of AI Booster, Fixstars now provides a platform that can instantly and sustainably maximize the performance of AI applications across diverse GPU environments. By achieving top-tier GPU efficiency, organizations can reduce hardware costs and improve overall cost-effectiveness. Beyond applications in major server environments, "AI Booster" can be customized to meet individual user requirements and is available as part of a comprehensive solution that includes procurement of high-performance GPU servers and other computing resources. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,123, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 24x in the Software industry in Japan. Total returns to shareholders of 146% over the past three years. Reported Earnings • Nov 09
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥46.39 (up from JP¥44.98 in FY 2023). Revenue: JP¥8.00b (up 14% from FY 2023). Net income: JP¥1.49b (up 3.2% from FY 2023). Profit margin: 19% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 11% 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 29% per year whereas the company’s share price has increased by 26% per year. Announcement • Nov 07
Fixstars Corporation, Annual General Meeting, Dec 18, 2024 Fixstars Corporation, Annual General Meeting, Dec 18, 2024. New Risk • Sep 30
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 11% 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. Announcement • Sep 28
Fixstars Corporation to Report Fiscal Year 2024 Results on Nov 07, 2024 Fixstars Corporation announced that they will report fiscal year 2024 results on Nov 07, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 23 December 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.2%). New Risk • Aug 05
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 8.5% 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 • Aug 05
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to JP¥1,187, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Software industry in Japan. Total returns to shareholders of 59% over the past three years. Announcement • Jun 30
Fixstars Corporation to Report Q3, 2024 Results on Aug 08, 2024 Fixstars Corporation announced that they will report Q3, 2024 results on Aug 08, 2024 Reported Earnings • May 11
Second quarter 2024 earnings released: EPS: JP¥13.19 (vs JP¥10.16 in 2Q 2023) Second quarter 2024 results: EPS: JP¥13.19 (up from JP¥10.16 in 2Q 2023). Revenue: JP¥2.05b (up 11% from 2Q 2023). Net income: JP¥425.0m (up 30% from 2Q 2023). Profit margin: 21% (up from 18% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.2% 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 39% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. New Risk • Apr 04
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 8.4% 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. Announcement • Mar 08
Fixstars Corporation to Report Q2, 2024 Results on May 09, 2024 Fixstars Corporation announced that they will report Q2, 2024 results on May 09, 2024 Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,305, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 25x in the Software industry in Japan. Total returns to shareholders of 147% over the past three years. Reported Earnings • Feb 10
First quarter 2024 earnings released: EPS: JP¥10.47 (vs JP¥10.14 in 1Q 2023) First quarter 2024 results: EPS: JP¥10.47 (up from JP¥10.14 in 1Q 2023). Revenue: JP¥1.85b (up 8.0% from 1Q 2023). Net income: JP¥337.0m (up 3.4% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Revenue is forecast to grow 9.2% 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 38% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,513, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 26x in the Software industry in Japan. Total returns to shareholders of 59% over the past three years. New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Announcement • Nov 26
Fixstars Corporation to Report Q1, 2024 Results on Feb 08, 2024 Fixstars Corporation announced that they will report Q1, 2024 results on Feb 08, 2024 Announcement • Nov 11
Fixstars Corporation, Annual General Meeting, Dec 20, 2023 Fixstars Corporation, Annual General Meeting, Dec 20, 2023. Reported Earnings • Nov 10
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥44.98 (up from JP¥33.51 in FY 2022). Revenue: JP¥7.04b (up 12% from FY 2022). Net income: JP¥1.45b (up 34% from FY 2022). Profit margin: 21% (up from 17% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 14%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥12.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.7%). Announcement • Sep 02
Fixstars Corporation to Report Fiscal Year 2023 Results on Nov 09, 2023 Fixstars Corporation announced that they will report fiscal year 2023 results on Nov 09, 2023 Reported Earnings • Aug 12
Third quarter 2023 earnings released: EPS: JP¥6.87 (vs JP¥6.69 in 3Q 2022) Third quarter 2023 results: EPS: JP¥6.87 (up from JP¥6.69 in 3Q 2022). Revenue: JP¥1.68b (up 5.3% from 3Q 2022). Net income: JP¥221.0m (up 2.8% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 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 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Fixstars Corporation to Report Q3, 2023 Results on Aug 10, 2023 Fixstars Corporation announced that they will report Q3, 2023 results on Aug 10, 2023 New Risk • Jun 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). High level of non-cash earnings (22% accrual ratio). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,601, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 30x in the Software industry in Japan. Total returns to shareholders of 20% over the past three years. Reported Earnings • May 15
Second quarter 2023 earnings released: EPS: JP¥10.16 (vs JP¥11.28 in 2Q 2022) Second quarter 2023 results: EPS: JP¥10.16 (down from JP¥11.28 in 2Q 2022). Revenue: JP¥1.85b (up 15% from 2Q 2022). Net income: JP¥327.0m (down 10% from 2Q 2022). Profit margin: 18% (down from 23% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 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 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
First quarter 2023 earnings released: EPS: JP¥10.14 (vs JP¥5.23 in 1Q 2022) First quarter 2023 results: EPS: JP¥10.14 (up from JP¥5.23 in 1Q 2022). Revenue: JP¥1.72b (up 23% from 1Q 2022). Net income: JP¥326.0m (up 92% from 1Q 2022). Profit margin: 19% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 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 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 28
Fixstars Corporation to Report Q1, 2023 Results on Feb 10, 2023 Fixstars Corporation announced that they will report Q1, 2023 results on Feb 10, 2023 Reported Earnings • Dec 27
Full year 2022 earnings released: EPS: JP¥33.51 (vs JP¥16.63 in FY 2021) Full year 2022 results: EPS: JP¥33.51 (up from JP¥16.63 in FY 2021). Revenue: JP¥6.31b (up 15% from FY 2021). Net income: JP¥1.08b (up 99% from FY 2021). Profit margin: 17% (up from 9.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,313, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Nov 16
Full year 2022 earnings released: EPS: JP¥33.51 (vs JP¥16.63 in FY 2021) Full year 2022 results: EPS: JP¥33.51 (up from JP¥16.63 in FY 2021). Revenue: JP¥6.31b (up 15% from FY 2021). Net income: JP¥1.08b (up 99% from FY 2021). Profit margin: 17% (up from 9.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Full year 2022 earnings released: EPS: JP¥33.51 (vs JP¥16.63 in FY 2021) Full year 2022 results: EPS: JP¥33.51 (up from JP¥16.63 in FY 2021). Revenue: JP¥6.31b (up 15% from FY 2021). Net income: JP¥1.08b (up 99% from FY 2021). Profit margin: 17% (up from 9.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 26 December 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.8%). Reported Earnings • Aug 16
Third quarter 2022 earnings released: EPS: JP¥6.69 (vs JP¥0.28 in 3Q 2021) Third quarter 2022 results: EPS: JP¥6.69 (up from JP¥0.28 in 3Q 2021). Revenue: JP¥1.60b (up 31% from 3Q 2021). Net income: JP¥215.0m (up JP¥206.0m from 3Q 2021). Profit margin: 14% (up from 0.7% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,111, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,001, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 23x in the Software industry in Japan. Total loss to shareholders of 47% over the past three years. Reported Earnings • May 18
Second quarter 2022 earnings released: EPS: JP¥11.28 (vs JP¥5.71 in 2Q 2021) Second quarter 2022 results: EPS: JP¥11.28 (up from JP¥5.71 in 2Q 2021). Revenue: JP¥1.61b (up 5.9% from 2Q 2021). Net income: JP¥365.0m (up 95% from 2Q 2021). Profit margin: 23% (up from 12% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 20% per year. Announcement • Apr 07
Fixstars Corporation to Report Q2, 2022 Results on May 13, 2022 Fixstars Corporation announced that they will report Q2, 2022 results on May 13, 2022 Announcement • Feb 17
Fixstars Corporation (TSE:3687) announces an Equity Buyback for 400,000 shares, representing 1.23% for ¥291.6 million. Fixstars Corporation (TSE:3687) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 1.23% of its share capital, for ¥291.6 million. The shares will be repurchased at a price of ¥729 per share. The purpose of the program is to enable the further return of profits to shareholders and the flexible execution of capital policies that flexibly respond to changes in the business environment. The program will expire on February 17, 2022. As of January 31, 2022, the company had 32,514,541 shares outstanding (excluding treasury shares) and 1,120,459 shares in treasury. Reported Earnings • Feb 12
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥5.23 (up from JP¥2.47 in 1Q 2021). Revenue: JP¥1.40b (up 13% from 1Q 2021). Net income: JP¥170.0m (up 110% from 1Q 2021). Profit margin: 12% (up from 6.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 17% per year. Reported Earnings • Dec 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥16.63 (down from JP¥20.24 in FY 2020). Revenue: JP¥5.50b (down 4.6% from FY 2020). Net income: JP¥543.0m (down 19% from FY 2020). Profit margin: 9.9% (down from 12% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥761, the stock trades at a trailing P/E ratio of 45.6x. Average trailing P/E is 22x in the Software industry in Japan. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥761, the stock trades at a trailing P/E ratio of 45.6x. Average trailing P/E is 22x in the Software industry in Japan. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥830, the stock trades at a trailing P/E ratio of 61.1x. Average trailing P/E is 27x in the Software industry in Japan. Total loss to shareholders of 36% over the past three years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 18 December 2021. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.3%). Reported Earnings • May 14
Second quarter 2021 earnings released: EPS JP¥5.71 (vs JP¥9.14 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥1.52b (down 13% from 2Q 2020). Net income: JP¥187.0m (down 38% from 2Q 2020). Profit margin: 12% (down from 17% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 15
First quarter 2021 earnings released: EPS JP¥2.47 (vs JP¥2.94 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: JP¥1.24b (up 4.3% from 1Q 2020). Net income: JP¥81.0m (down 17% from 1Q 2020). Profit margin: 6.5% (down from 8.2% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 07
New 90-day low: JP¥912 The company is down 17% from its price of JP¥1,096 on 09 October 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥609 per share. Major Estimate Revision • Jan 01
Analysts lower EPS estimates to JP¥19.30 The 2021 consensus revenue estimate was lowered from JP¥6.16b to JP¥6.08b. Earning per share (EPS) estimate was also lowered from JP¥22.35 to JP¥19.30 for the same period. Net income is expected to shrink by 5.3% next year compared to 16% growth forecast for the Software industry in Japan . The consensus price target was lowered from JP¥1,455 to JP¥1,325. Share price is down by 1.8% to JP¥941 over the past week. Announcement • Dec 30
Fixstars Corporation to Report Q1, 2021 Results on Feb 12, 2021 Fixstars Corporation announced that they will report Q1, 2021 results on Feb 12, 2021 Price Target Changed • Dec 01
Price target lowered to JP¥1,465 Down from JP¥2,000, the current price target is an average from 2 analysts. The new target price is 42% above the current share price of JP¥1,033. As of last close, the stock is down 35% over the past year. Announcement • Nov 15
Fixstars Corporation, Annual General Meeting, Dec 17, 2020 Fixstars Corporation, Annual General Meeting, Dec 17, 2020. Announcement • Oct 10
Fixstars Corporation to Report Fiscal Year 2020 Results on Nov 13, 2020 Fixstars Corporation announced that they will report fiscal year 2020 results on Nov 13, 2020