Announcement • Jun 03
System Research Co.,Ltd. to Report Q1, 2027 Results on Jul 28, 2026 System Research Co.,Ltd. announced that they will report Q1, 2027 results on Jul 28, 2026 Reported Earnings • May 13
Full year 2026 earnings released: EPS: JP¥157 (vs JP¥132 in FY 2025) Full year 2026 results: EPS: JP¥157 (up from JP¥132 in FY 2025). Revenue: JP¥29.1b (up 12% from FY 2025). Net income: JP¥2.61b (up 19% from FY 2025). Profit margin: 9.0% (up from 8.5% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Announcement • May 11
System Research Co.,Ltd., Annual General Meeting, Jun 25, 2026 System Research Co.,Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
System Research Co.,Ltd. to Report Fiscal Year 2026 Results on May 11, 2026 System Research Co.,Ltd. announced that they will report fiscal year 2026 results on May 11, 2026 Buy Or Sell Opportunity • Apr 15
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to JP¥1,744. The fair value is estimated to be JP¥1,446, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. Buy Or Sell Opportunity • Mar 24
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to JP¥1,713. The fair value is estimated to be JP¥1,422, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 04 June 2026. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥40.04 (vs JP¥39.45 in 3Q 2025) Third quarter 2026 results: EPS: JP¥40.04 (up from JP¥39.45 in 3Q 2025). Revenue: JP¥7.23b (up 9.9% from 3Q 2025). Net income: JP¥664.0m (up 1.6% from 3Q 2025). Profit margin: 9.2% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 29
System Research Co.,Ltd. to Report Q3, 2026 Results on Jan 30, 2026 System Research Co.,Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥40.98 (vs JP¥33.03 in 2Q 2025) Second quarter 2026 results: EPS: JP¥40.98 (up from JP¥33.03 in 2Q 2025). Revenue: JP¥7.25b (up 13% from 2Q 2025). Net income: JP¥679.3m (up 24% from 2Q 2025). Profit margin: 9.4% (up from 8.5% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Oct 30
Dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 30th March 2026 Payment date: 4th June 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but not covered by cash flows (115% cash payout ratio). The dividend has increased by an average of 25% 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 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 01
System Research Co.,Ltd. to Report Q2, 2026 Results on Oct 28, 2025 System Research Co.,Ltd. announced that they will report Q2, 2026 results on Oct 28, 2025 Reported Earnings • Jul 30
First quarter 2026 earnings released: EPS: JP¥26.66 (vs JP¥21.18 in 1Q 2025) First quarter 2026 results: EPS: JP¥26.66 (up from JP¥21.18 in 1Q 2025). Revenue: JP¥6.94b (up 12% from 1Q 2025). Net income: JP¥441.7m (up 25% from 1Q 2025). Profit margin: 6.4% (up from 5.7% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 31
System Research Co.,Ltd. to Report Q1, 2026 Results on Jul 28, 2025 System Research Co.,Ltd. announced that they will report Q1, 2026 results on Jul 28, 2025 Reported Earnings • May 09
Full year 2025 earnings released: EPS: JP¥132 (vs JP¥118 in FY 2024) Full year 2025 results: EPS: JP¥132 (up from JP¥118 in FY 2024). Revenue: JP¥25.9b (up 11% from FY 2024). Net income: JP¥2.19b (up 11% from FY 2024). Profit margin: 8.5% (up from 8.4% 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 15% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
System Research Co.,Ltd., Annual General Meeting, Jun 25, 2025 System Research Co.,Ltd., Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥1,644, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 19x in the Software industry in Japan. Total returns to shareholders of 95% over the past three years. Buy Or Sell Opportunity • Apr 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to JP¥1,362. The fair value is estimated to be JP¥1,760, 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 15%. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 04 June 2025. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Announcement • Mar 01
System Research Co.,Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 System Research Co.,Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥39.47 (vs JP¥34.46 in 3Q 2024) Third quarter 2025 results: EPS: JP¥39.47 (up from JP¥34.46 in 3Q 2024). Revenue: JP¥6.58b (up 11% from 3Q 2024). Net income: JP¥654.0m (up 14% from 3Q 2024). Profit margin: 9.9% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% 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: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.7% average weekly change). 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. This is currently the only risk that has been identified for the company. Announcement • Nov 30
System Research Co.,Ltd. to Report Q3, 2025 Results on Jan 31, 2025 System Research Co.,Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: JP¥33.03 (vs JP¥31.77 in 2Q 2024) Second quarter 2025 results: EPS: JP¥33.03 (up from JP¥31.77 in 2Q 2024). Revenue: JP¥6.44b (up 12% from 2Q 2024). Net income: JP¥547.5m (up 3.1% from 2Q 2024). Profit margin: 8.5% (down from 9.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
System Research Co.,Ltd. to Report Q2, 2025 Results on Oct 28, 2024 System Research Co.,Ltd. announced that they will report Q2, 2025 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,260, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 20x in the Software industry in Japan. Total returns to shareholders of 34% over the past three years. Reported Earnings • Jul 28
First quarter 2025 earnings released: EPS: JP¥21.18 (vs JP¥21.96 in 1Q 2024) First quarter 2025 results: EPS: JP¥21.18 (down from JP¥21.96 in 1Q 2024). Revenue: JP¥6.19b (up 11% from 1Q 2024). Net income: JP¥352.5m (down 4.0% from 1Q 2024). Profit margin: 5.7% (down from 6.6% in 1Q 2024). The decrease in margin was driven by higher expenses. 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 13% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
System Research Co.,Ltd. to Report Q1, 2025 Results on Jul 26, 2024 System Research Co.,Ltd. announced that they will report Q1, 2025 results on Jul 26, 2024 Announcement • May 10
System Research Co.,Ltd., Annual General Meeting, Jun 25, 2024 System Research Co.,Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • May 09
Full year 2024 earnings released: EPS: JP¥236 (vs JP¥95.78 in FY 2023) Full year 2024 results: EPS: JP¥236 (up from JP¥95.78 in FY 2023). Revenue: JP¥23.3b (up 8.2% from FY 2023). Net income: JP¥1.97b (up 23% from FY 2023). Profit margin: 8.4% (up from 7.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • May 09
System Research Co.,Ltd. (TSE:3771) announces an Equity Buyback for 200,000 shares, representing 1.2% for ¥300 million. System Research Co.,Ltd. (TSE:3771) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 1.2% of its share capital, for ¥300 million. The shares will be repurchased at a price of ¥1,481 per share. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will expire on May 9, 2024. As of March 31, 2024, the company had 16,715,776 shares in issue (excluding treasury stock) and 4,224 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.3%). Announcement • Mar 02
System Research Co.,Ltd. to Report Q4, 2024 Results on May 08, 2024 System Research Co.,Ltd. announced that they will report Q4, 2024 results on May 08, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥68.92 (vs JP¥58.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥68.92 (up from JP¥58.15 in 3Q 2023). Revenue: JP¥5.93b (up 8.6% from 3Q 2023). Net income: JP¥576.0m (up 19% from 3Q 2023). Profit margin: 9.7% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 26% per year. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,500, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 24x in the Software industry in Japan. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,968, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 22x in the Software industry in Japan. Total returns to shareholders of 91% over the past three years. Announcement • Nov 29
System Research Co.,Ltd. to Report Q3, 2024 Results on Jan 31, 2024 System Research Co.,Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Oct 30
Second quarter 2024 earnings released: EPS: JP¥63.53 (vs JP¥52.05 in 2Q 2023) Second quarter 2024 results: EPS: JP¥63.53 (up from JP¥52.05 in 2Q 2023). Revenue: JP¥5.75b (up 7.3% from 2Q 2023). Net income: JP¥531.0m (up 22% from 2Q 2023). Profit margin: 9.2% (up from 8.1% in 2Q 2023). The increase in margin was driven by higher revenue. 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 24% per year. Buying Opportunity • Oct 13
Now 21% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be JP¥3,897, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 16%. Announcement • Aug 27
System Research Co.,Ltd. to Report Q2, 2024 Results on Oct 27, 2023 System Research Co.,Ltd. announced that they will report Q2, 2024 results on Oct 27, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥43.91 (vs JP¥5.03 in 1Q 2023) First quarter 2024 results: EPS: JP¥43.91 (up from JP¥5.03 in 1Q 2023). Revenue: JP¥5.56b (up 8.3% from 1Q 2023). Net income: JP¥367.0m (up JP¥325.0m from 1Q 2023). Profit margin: 6.6% (up from 0.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Announcement • Jun 15
System Research Co.,Ltd. to Report Q1, 2024 Results on Jul 28, 2023 System Research Co.,Ltd. announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥192 (vs JP¥179 in FY 2022) Full year 2023 results: EPS: JP¥192 (up from JP¥179 in FY 2022). Revenue: JP¥21.6b (up 17% from FY 2022). Net income: JP¥1.60b (up 7.3% from FY 2022). Profit margin: 7.4% (down from 8.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Announcement • May 11
System Research Co.,Ltd., Annual General Meeting, Jun 23, 2023 System Research Co.,Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥70.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 07 June 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥58.15 (vs JP¥48.46 in 3Q 2022) Third quarter 2023 results: EPS: JP¥58.15 (up from JP¥48.46 in 3Q 2022). Revenue: JP¥5.46b (up 17% from 3Q 2022). Net income: JP¥486.0m (up 20% from 3Q 2022). Profit margin: 8.9% (up from 8.6% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Announcement • Dec 04
System Research Co.,Ltd. to Report Q3, 2023 Results on Jan 31, 2023 System Research Co.,Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥52.05 (vs JP¥40.20 in 2Q 2022) Second quarter 2023 results: EPS: JP¥52.05 (up from JP¥40.20 in 2Q 2022). Revenue: JP¥5.36b (up 22% from 2Q 2022). Net income: JP¥435.0m (up 30% from 2Q 2022). Profit margin: 8.1% (up from 7.6% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Outside Independent Director Noboru Kondo was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥52.05 (vs JP¥40.20 in 2Q 2022) Second quarter 2023 results: EPS: JP¥52.05 (up from JP¥40.20 in 2Q 2022). Revenue: JP¥5.36b (up 22% from 2Q 2022). Net income: JP¥435.0m (up 30% from 2Q 2022). Profit margin: 8.1% (up from 7.6% in 2Q 2022). The increase in margin was driven by higher revenue. 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 1% per year, which means it is significantly lagging earnings. Announcement • Sep 01
System Research Co.,Ltd. to Report Q2, 2023 Results on Oct 28, 2022 System Research Co.,Ltd. announced that they will report Q2, 2023 results on Oct 28, 2022 Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥5.03 (vs JP¥20.94 in 1Q 2022) First quarter 2023 results: EPS: JP¥5.03 (down from JP¥20.94 in 1Q 2022). Revenue: JP¥5.13b (up 25% from 1Q 2022). Net income: JP¥42.0m (down 76% from 1Q 2022). Profit margin: 0.8% (down from 4.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 29
Now 22% undervalued Over the last 90 days, the stock is up 4.8%. The fair value is estimated to be JP¥2,693, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Earnings per share has grown by 9.4%. Announcement • May 29
System Research Co.,Ltd. to Report Q1, 2023 Results on Jul 28, 2022 System Research Co.,Ltd. announced that they will report Q1, 2023 results on Jul 28, 2022 Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥179 (vs JP¥130 in FY 2021) Full year 2022 results: EPS: JP¥179 (up from JP¥130 in FY 2021). Revenue: JP¥18.4b (up 14% from FY 2021). Net income: JP¥1.49b (up 37% from FY 2021). Profit margin: 8.1% (up from 6.7% 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 9% per year whereas the company’s share price has increased by 11% per year. Announcement • May 13
System Research Co.,Ltd., Annual General Meeting, Jun 24, 2022 System Research Co.,Ltd., Annual General Meeting, Jun 24, 2022. Agenda: AGM. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). External Director Noboru Kondo was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 07
System Research Co.,Ltd. to Report Fiscal Year 2022 Results on May 11, 2022 System Research Co.,Ltd. announced that they will report fiscal year 2022 results on May 11, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥48.46 (up from JP¥37.09 in 3Q 2021). Revenue: JP¥4.69b (up 19% from 3Q 2021). Net income: JP¥405.0m (up 31% from 3Q 2021). Profit margin: 8.6% (up from 7.9% in 3Q 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 increased by 10% per year whereas the company’s share price has increased by 6% per year. Announcement • Jan 09
System Research Co.,Ltd. (TSE:3771) completed the acquisition of GSC Co.,Ltd. from Kenji Takahashi and Nobuyo Hoshino. System Research Co.,Ltd. (TSE:3771) signed a share transfer agreement to acquire GSC Co.,Ltd. from Kenji Takahashi and Nobuyo Hoshino for ¥1.2 billion on October 28, 2021. Kenji Takahashi sold 75.4% and Nobuyo Hoshino sold 24.6% in GSC Co.,Ltd. The transaction has also advisor fees of ¥3 million. The transaction has been approved by the board of directors of System Research Co.,Ltd. The transaction is expected to close on November 30, 2021.
System Research Co.,Ltd. (TSE:3771) completed the acquisition of GSC Co.,Ltd. from Kenji Takahashi and Nobuyo Hoshino on January 7, 2022. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥40.20 (vs JP¥25.96 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥4.40b (up 13% from 2Q 2021). Net income: JP¥336.0m (up 55% from 2Q 2021). Profit margin: 7.6% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS JP¥20.94 (vs JP¥17.59 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥4.11b (up 6.3% from 1Q 2021). Net income: JP¥175.0m (up 19% from 1Q 2021). Profit margin: 4.3% (up from 3.8% in 1Q 2021). The increase in margin was driven by higher revenue. 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 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥130 (vs JP¥148 in FY 2020) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥16.2b (flat on FY 2020). Net income: JP¥1.09b (down 12% from FY 2020). Profit margin: 6.7% (down from 7.6% in FY 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 09 June 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Announcement • Mar 05
System Research Co.,Ltd. to Report Fiscal Year 2021 Results on May 11, 2021 System Research Co.,Ltd. announced that they will report fiscal year 2021 results on May 11, 2021 Is New 90 Day High Low • Feb 19
New 90-day high: JP¥1,884 The company is up 21% from its price of JP¥1,563 on 20 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥37.09 (vs JP¥38.65 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: JP¥3.95b (down 5.3% from 3Q 2020). Net income: JP¥310.0m (down 4.0% from 3Q 2020). Profit margin: 7.9% (up from 7.7% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 25
New 90-day high: JP¥1,813 The company is up 4.0% from its price of JP¥1,747 on 27 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 10.0% over the same period. Announcement • Dec 17
System Research Co.,Ltd. to Report Q3, 2021 Results on Jan 28, 2021 System Research Co.,Ltd. announced that they will report Q3, 2021 results on Jan 28, 2021 Announcement • Sep 12
System Research Co.,Ltd. to Report Q2, 2021 Results on Oct 28, 2020 System Research Co.,Ltd. announced that they will report Q2, 2021 results on Oct 28, 2020 Announcement • Jun 20
System Research Co.,Ltd. to Report Q1, 2021 Results on Jul 28, 2020 System Research Co.,Ltd. announced that they will report Q1, 2021 results on Jul 28, 2020