Announcement • May 13
ULS Group, Inc., Annual General Meeting, Jun 25, 2026 ULS Group, Inc., Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.10 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥11.64 (vs JP¥8.89 in 3Q 2025) Third quarter 2026 results: EPS: JP¥11.64 (up from JP¥8.89 in 3Q 2025). Revenue: JP¥4.42b (up 33% from 3Q 2025). Net income: JP¥658.0m (up 35% from 3Q 2025). Profit margin: 15% (in line with 3Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Buy Or Sell Opportunity • Jan 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to JP¥608. The fair value is estimated to be JP¥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 22% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥639, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the IT industry in Japan. Total returns to shareholders of 103% over the past three years. Buy Or Sell Opportunity • Dec 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to JP¥583. The fair value is estimated to be JP¥746, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Major Estimate Revision • Dec 04
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥16.5b to JP¥16.1b. EPS estimate also fell from JP¥37.01 per share to JP¥31.30 per share. Net income forecast to grow 19% next year vs 14% growth forecast for IT industry in Japan. Consensus price target down from JP¥920 to JP¥720. Share price fell 4.8% to JP¥560 over the past week. Announcement • Dec 02
ULS Group, Inc. to Report Q3, 2026 Results on Feb 13, 2026 ULS Group, Inc. announced that they will report Q3, 2026 results on Feb 13, 2026 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥581, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 77% over the past three years. Buy Or Sell Opportunity • Nov 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to JP¥661. The fair value is estimated to be JP¥831, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Reported Earnings • Nov 08
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥4.09b (up 24% from 2Q 2025). Net income: JP¥383.0m (down 12% from 2Q 2025). Profit margin: 9.4% (down from 13% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 31% per year. New Risk • Oct 31
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 5.4% 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. New Risk • Sep 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 261% Dividend yield: 9.2% 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. This is currently the only risk that has been identified for the company. Announcement • Sep 04
ULS Group, Inc. to Report Q2, 2026 Results on Nov 07, 2025 ULS Group, Inc. announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 11
First quarter 2026 earnings released: EPS: JP¥106 (vs JP¥85.26 in 1Q 2025) First quarter 2026 results: EPS: JP¥106 (up from JP¥85.26 in 1Q 2025). Revenue: JP¥3.80b (up 33% from 1Q 2025). Net income: JP¥582.0m (up 24% from 1Q 2025). Profit margin: 15% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 18
ULS Group, Inc. to Report Q1, 2026 Results on Aug 08, 2025 ULS Group, Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Buy Or Sell Opportunity • Jun 17
Now 20% undervalued Over the last 90 days, the stock has risen 32% to JP¥6,510. The fair value is estimated to be JP¥8,151, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. New Risk • May 12
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 7.3% 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. Reported Earnings • May 12
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥297 (up from JP¥206 in FY 2024). Revenue: JP¥13.2b (up 27% from FY 2024). Net income: JP¥1.64b (up 45% from FY 2024). Profit margin: 12% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
ULS Group, Inc., Annual General Meeting, Jun 25, 2025 ULS Group, Inc., Annual General Meeting, Jun 25, 2025. New Risk • Apr 07
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥4,105, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 11% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.4%). Announcement • Mar 06
ULS Group, Inc. to Report Fiscal Year 2025 Results on May 09, 2025 ULS Group, Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥88.89 (vs JP¥75.62 in 3Q 2024) Third quarter 2025 results: EPS: JP¥88.89 (up from JP¥75.62 in 3Q 2024). Revenue: JP¥3.32b (up 24% from 3Q 2024). Net income: JP¥489.0m (up 18% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT industry in Japan. 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 11% per year. Buy Or Sell Opportunity • Jan 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.1% to JP¥4,970. The fair value is estimated to be JP¥6,216, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.3%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. 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. Buy Or Sell Opportunity • Jan 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.1% to JP¥4,980. The fair value is estimated to be JP¥6,231, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.3%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. New Risk • Dec 16
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 • Dec 03
ULS Group, Inc. to Report Q3, 2025 Results on Feb 07, 2025 ULS Group, Inc. announced that they will report Q3, 2025 results on Feb 07, 2025 Buy Or Sell Opportunity • Dec 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to JP¥5,160. The fair value is estimated to be JP¥6,490, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.3%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 41% in the next 2 years. Buy Or Sell Opportunity • Nov 12
Now 22% undervalued Over the last 90 days, the stock has risen 5.5% to JP¥5,520. The fair value is estimated to be JP¥7,076, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.3%. Revenue is forecast to grow by 45% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥78.71 (vs JP¥29.67 in 2Q 2024) Second quarter 2025 results: EPS: JP¥78.71 (up from JP¥29.67 in 2Q 2024). Revenue: JP¥3.31b (up 35% from 2Q 2024). Net income: JP¥433.0m (up 166% from 2Q 2024). Profit margin: 13% (up from 6.6% 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 5.3% growth forecast for the IT industry in Japan. 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. New Risk • Nov 07
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 6.2% 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. Announcement • Sep 05
ULS Group, Inc. to Report Q2, 2025 Results on Nov 08, 2024 ULS Group, Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥85.26 (vs JP¥66.81 in 1Q 2024) First quarter 2025 results: EPS: JP¥85.26 (up from JP¥66.81 in 1Q 2024). Revenue: JP¥2.85b (up 20% from 1Q 2024). Net income: JP¥469.0m (up 28% from 1Q 2024). Profit margin: 17% (up from 15% in 1Q 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 4.9% growth forecast for the IT 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 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥4,200, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the IT industry in Japan. Total loss to shareholders of 4.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,485 per share. New Risk • Jul 16
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 5.3% 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. Announcement • Jun 20
ULS Group, Inc. to Report Q1, 2025 Results on Aug 09, 2024 ULS Group, Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥206 (down from JP¥224 in FY 2023). Revenue: JP¥10.4b (up 22% from FY 2023). Net income: JP¥1.13b (down 8.3% from FY 2023). Profit margin: 11% (down from 14% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Announcement • May 12
ULS Group, Inc., Annual General Meeting, Jun 25, 2024 ULS Group, Inc., Annual General Meeting, Jun 25, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.4%). Announcement • Mar 14
ULS Group, Inc. to Report Fiscal Year 2024 Results on May 10, 2024 ULS Group, Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥75.62 (vs JP¥73.22 in 3Q 2023) Third quarter 2024 results: EPS: JP¥75.62 (up from JP¥73.22 in 3Q 2023). Revenue: JP¥2.67b (up 22% from 3Q 2023). Net income: JP¥416.0m (up 4.0% from 3Q 2023). Profit margin: 16% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT industry in Japan. 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 8% per year. Announcement • Dec 20
ULS Group, Inc. to Report Q3, 2024 Results on Feb 09, 2024 ULS Group, Inc. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Nov 13
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 7.8% 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 Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥29.67 (vs JP¥60.30 in 2Q 2023) Second quarter 2024 results: EPS: JP¥29.67 (down from JP¥60.30 in 2Q 2023). Revenue: JP¥2.46b (up 13% from 2Q 2023). Net income: JP¥163.0m (down 51% from 2Q 2023). Profit margin: 6.6% (down from 15% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Sep 21
ULS Group, Inc. to Report Q2, 2024 Results on Nov 10, 2023 ULS Group, Inc. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥66.81 (vs JP¥77.87 in 1Q 2023) First quarter 2024 results: EPS: JP¥66.81 (down from JP¥77.87 in 1Q 2023). Revenue: JP¥2.38b (up 30% from 1Q 2023). Net income: JP¥367.0m (down 15% from 1Q 2023). Profit margin: 15% (down from 24% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 25
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be JP¥4,662, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Announcement • Jun 23
ULS Group, Inc. to Report Q1, 2024 Results on Aug 10, 2023 ULS Group, Inc. announced that they will report Q1, 2024 results on Aug 10, 2023 New Risk • Jun 10
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 5.4% 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 (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥3,500, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the IT industry in Japan. Total returns to shareholders of 24% over the past three years. Reported Earnings • May 17
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥224 (up from JP¥178 in FY 2022). Revenue: JP¥8.52b (up 16% from FY 2022). Net income: JP¥1.23b (up 24% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥43.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥73.22 (vs JP¥66.26 in 3Q 2022) Third quarter 2023 results: EPS: JP¥73.22 (up from JP¥66.26 in 3Q 2022). Revenue: JP¥2.19b (up 13% from 3Q 2022). Net income: JP¥400.0m (up 7.8% from 3Q 2022). Profit margin: 18% (in line with 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Dec 22
ULS Group, Inc. to Report Q3, 2023 Results on Feb 10, 2023 ULS Group, Inc. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
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. 3 experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). Full-Time Auditor Kazuhiro Baba was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥60.30 (vs JP¥38.22 in 2Q 2022) Second quarter 2023 results: EPS: JP¥60.30 (up from JP¥38.22 in 2Q 2022). Revenue: JP¥2.18b (up 18% from 2Q 2022). Net income: JP¥329.0m (up 54% from 2Q 2022). Profit margin: 15% (up from 12% in 2Q 2022). 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 6.9% growth forecast for the IT 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 15
ULS Group, Inc. to Report Q2, 2023 Results on Nov 11, 2022 ULS Group, Inc. announced that they will report Q2, 2023 results on Nov 11, 2022 Price Target Changed • Sep 08
Price target decreased to JP¥6,200 Down from JP¥7,000, the current price target is provided by 1 analyst. New target price is 84% above last closing price of JP¥3,365. Stock is down 38% over the past year. The company is forecast to post earnings per share of JP¥237 for next year compared to JP¥178 last year. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥77.87 (vs JP¥59.30 in 1Q 2022) First quarter 2023 results: EPS: JP¥77.87 (up from JP¥59.30 in 1Q 2022). Revenue: JP¥1.83b (up 11% from 1Q 2022). Net income: JP¥434.0m (up 31% from 1Q 2022). Profit margin: 24% (up from 20% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Announcement • Jun 15
ULS Group, Inc. to Report Q1, 2023 Results on Aug 10, 2022 ULS Group, Inc. announced that they will report Q1, 2023 results on Aug 10, 2022 Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥3,170, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the IT industry in Japan. Total returns to shareholders of 58% over the past three years. Reported Earnings • May 19
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥178 (up from JP¥159 in FY 2021). Revenue: JP¥7.37b (up 2.4% from FY 2021). Net income: JP¥998.0m (up 12% from FY 2021). Profit margin: 14% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 10%. Over the next year, revenue is forecast to grow 24%, compared to a 8.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 16% per year. Announcement • May 15
ULS Group, Inc., Annual General Meeting, Jun 29, 2022 ULS Group, Inc., Annual General Meeting, Jun 29, 2022. 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. 2 experienced directors. 5 highly experienced directors. No independent directors (4 non-independent directors). Full-Time Auditor Kazuhiro Baba was the last director to join the board, commencing their role in 2018. 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
ULS Group, Inc. to Report Fiscal Year 2022 Results on May 13, 2022 ULS Group, Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.5%). Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥66.26 (up from JP¥49.50 in 3Q 2021). Revenue: JP¥1.94b (up 19% from 3Q 2021). Net income: JP¥371.0m (up 34% from 3Q 2021). Profit margin: 19% (up from 17% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 14%, compared to a 7.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥4,065, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 22x in the IT industry in Japan. Total returns to shareholders of 133% over the past three years. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥38.22 (vs JP¥38.08 in 2Q 2021) The company reported a solid second quarter result with improved revenues, although earnings and profit margins were flat. Second quarter 2022 results: Revenue: JP¥1.84b (up 6.4% from 2Q 2021). Net income: JP¥214.0m (flat on 2Q 2021). Profit margin: 12% (in line with 2Q 2021). 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 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS JP¥59.30 (vs JP¥47.49 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥1.65b (up 12% from 1Q 2021). Net income: JP¥332.0m (up 25% from 1Q 2021). Profit margin: 20% (up from 18% 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 12% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥4,710, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 25x in the IT industry in Japan. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,925 per share. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 29% share price gain to JP¥3,755, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the IT industry in Japan. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,525 per share. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥159 (vs JP¥129 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥7.19b (up 13% from FY 2020). Net income: JP¥891.0m (up 21% from FY 2020). Profit margin: 12% (in line with FY 2020). 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 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming Dividend of JP¥29.00 Per Share Will be paid on the 29th of June to those who are registered shareholders by the 30th of March. The trailing yield of 0.9% is below the top quartile of Japanese dividend payers (2.7%), and is lower than industry peers (1.3%). Announcement • Mar 12
ULS Group, Inc. to Report Fiscal Year 2021 Results on May 14, 2021 ULS Group, Inc. announced that they will report fiscal year 2021 results on May 14, 2021 Is New 90 Day High Low • Mar 02
New 90-day low: JP¥3,100 The company is down 21% from its price of JP¥3,920 on 02 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is flat over the same period. Is New 90 Day High Low • Feb 08
New 90-day low: JP¥3,405 The company is down 12% from its price of JP¥3,860 on 10 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 4.0% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥49.50 (vs JP¥52.09 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥1.63b (up 8.7% from 3Q 2020). Net income: JP¥277.0m (down 7.4% from 3Q 2020). Profit margin: 17% (down from 20% in 3Q 2020). 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 but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue and earnings miss expectations Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 15%, compared to a 8.6% growth forecast for the IT industry in Japan. Announcement • Dec 19
ULS Group, Inc. to Report Q3, 2021 Results on Feb 05, 2021 ULS Group, Inc. announced that they will report Q3, 2021 results on Feb 05, 2021