Reported Earnings • Mar 19
Full year 2026 earnings released: JP¥115 loss per share (vs JP¥10.96 profit in FY 2025) Full year 2026 results: JP¥115 loss per share (down from JP¥10.96 profit in FY 2025). Revenue: JP¥9.96b (up 11% from FY 2025). Net loss: JP¥465.0m (down JP¥510.0m from profit in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Mar 17
Appirits Inc., Annual General Meeting, Apr 28, 2026 Appirits Inc., Annual General Meeting, Apr 28, 2026. Upcoming Dividend • Jan 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 13 April 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.2%). Announcement • Dec 30
Appirits Inc. to Report Fiscal Year 2026 Results on Mar 17, 2026 Appirits Inc. announced that they will report fiscal year 2026 results on Mar 17, 2026 Reported Earnings • Dec 13
Third quarter 2026 earnings released: JP¥21.90 loss per share (vs JP¥9.90 loss in 3Q 2025) Third quarter 2026 results: JP¥21.90 loss per share (further deteriorated from JP¥9.90 loss in 3Q 2025). Revenue: JP¥2.46b (up 10% from 3Q 2025). Net loss: JP¥88.5m (loss widened 117% from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Nov 27
Appirits Inc. (TSE:4174) completed the acquisition of Bunbu Joint Stock Company from Le Van Nghia, Nguyen Nam Ha and Vu Thi Minh Hoa. Appirits Inc. (TSE:4174) agreed to acquire Bunbu Joint Stock Company from Le Van Nghia, Nguyen Nam Ha and Vu Thi Minh Hoa for VND 35.4 billion on August 29, 2025. As reported, cash consideration of VND 25,634 million will be paid for Bunbu common shares and in addition, an earn-out of up to VND 9,787 million will be paid depending on the performance achievement level from the fiscal year ending December 2026 to the fiscal year ending December 2027.
For the period ending December 31, 2024, Bunbu Joint Stock Company reported total revenue of VND 15.51 billion, operating profit of VND 6.36 billion and net profit of VND 6.03 billion. As of December 31, 2024, Bunbu Joint Stock Company reported total assets of VND 23.91 billion and total common equity of VND 22.38 billion.
The expected completion of the transaction is November 2025.
Appirits Inc. (TSE:4174) completed the acquisition of Bunbu Joint Stock Company from Le Van Nghia, Nguyen Nam Ha and Vu Thi Minh Hoa on November 25, 2025. Declared Dividend • Oct 11
First half dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 29th January 2026 Payment date: 13th April 2026 Dividend yield will be 4.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (343% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 78% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 281% to bring the payout ratio under control. However, EPS has declined by 26% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Sep 15
Second quarter 2026 earnings released: JP¥6.44 loss per share (vs JP¥22.28 loss in 2Q 2025) Second quarter 2026 results: JP¥6.44 loss per share (improved from JP¥22.28 loss in 2Q 2025). Revenue: JP¥2.68b (up 29% from 2Q 2025). Net loss: JP¥26.0m (loss narrowed 72% from 2Q 2025). New Risk • Sep 08
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. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥2.93b market cap, or US$19.8m). Upcoming Dividend • Jul 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 14 October 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.4%). Reported Earnings • Jun 15
First quarter 2026 earnings released: JP¥2.24 loss per share (vs JP¥18.42 profit in 1Q 2025) First quarter 2026 results: JP¥2.24 loss per share (down from JP¥18.42 profit in 1Q 2025). Revenue: JP¥2.48b (up 16% from 1Q 2025). Net loss: JP¥9.00m (down 112% from profit in 1Q 2025). Declared Dividend • May 08
Final dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 30th July 2025 Payment date: 14th October 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 78% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. However, EPS has declined by 17% over the last 5 years so the company would need to reverse this trend. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥703, the stock trades at a trailing P/E ratio of 61.4x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 43% over the past three years. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: JP¥10.96 (vs JP¥94.25 in FY 2024) Full year 2025 results: EPS: JP¥10.96 (down from JP¥94.25 in FY 2024). Revenue: JP¥9.01b (up 6.9% from FY 2024). Net income: JP¥45.0m (down 88% from FY 2024). Profit margin: 0.5% (down from 4.6% in FY 2024). 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 4% per year. Announcement • Mar 17
Appirits Inc., Annual General Meeting, Apr 25, 2025 Appirits Inc., Annual General Meeting, Apr 25, 2025. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 11 April 2025. The company is paying out more than 100% of its profits and is paying out 90% of its cash flow. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Announcement • Jan 03
Appirits Inc. to Report Fiscal Year 2025 Results on Mar 17, 2025 Appirits Inc. announced that they will report fiscal year 2025 results on Mar 17, 2025 Reported Earnings • Dec 15
Third quarter 2025 earnings released: JP¥9.94 loss per share (vs JP¥29.24 profit in 3Q 2024) Third quarter 2025 results: JP¥9.94 loss per share (down from JP¥29.24 profit in 3Q 2024). Revenue: JP¥2.23b (up 2.4% from 3Q 2024). Net loss: JP¥41.0m (down 134% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% 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 6.0% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (JP¥2.97b market cap, or US$19.2m). Announcement • Oct 17
Appirits Inc. (TSE:4174) announces an Equity Buyback for 150,000 shares, representing 3.63% for ¥180 million. Appirits Inc. (TSE:4174) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 3.63% of its share capital, for ¥180 million. The purpose of program is to enhancing shareholder returns. The program will expire on January 31, 2025. As of July 31, 2024, the company had 4,128,762 shares outstanding (excluding treasury shares) and 0 shares in treasury. Declared Dividend • Oct 12
First half dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 30th January 2025 Payment date: 11th April 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 79% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 02
Appirits Inc. (TSE:4174) agreed to acquire Quail, Inc. Appirits Inc. (TSE:4174) agreed to acquire Quail, Inc. on September 30, 2024. Announcement • Sep 28
Appirits Inc. to Report Q3, 2025 Results on Dec 13, 2024 Appirits Inc. announced that they will report Q3, 2025 results on Dec 13, 2024 New Risk • Sep 17
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 Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥2.98b market cap, or US$21.2m). Declared Dividend • Sep 15
Dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 30th January 2025 Payment date: 11th April 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 79% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 28% 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 • Sep 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥740, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 18x in the IT industry in Japan. Total loss to shareholders of 7.0% over the past three years. New Risk • Aug 05
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 6.4% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (JP¥2.97b market cap, or US$20.9m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥720, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 6.2% over the past three years. Upcoming Dividend • Jul 23
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.5%). Announcement • Jun 30
Appirits Inc. to Report Q2, 2025 Results on Sep 13, 2024 Appirits Inc. announced that they will report Q2, 2025 results on Sep 13, 2024 Reported Earnings • Jun 16
First quarter 2025 earnings released: EPS: JP¥18.42 (vs JP¥15.18 in 1Q 2024) First quarter 2025 results: EPS: JP¥18.42 (up from JP¥15.18 in 1Q 2024). Revenue: JP¥2.14b (up 6.2% from 1Q 2024). Net income: JP¥76.0m (up 23% from 1Q 2024). Profit margin: 3.6% (up from 3.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the IT industry in Japan. Declared Dividend • May 25
Final dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 30th July 2024 Payment date: 15th October 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 79% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 31
Appirits Inc. to Report Q1, 2025 Results on Jun 14, 2024 Appirits Inc. announced that they will report Q1, 2025 results on Jun 14, 2024 New Risk • Mar 28
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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Market cap is less than US$100m (JP¥5.20b market cap, or US$34.4m). Announcement • Mar 18
Appirits Inc., Annual General Meeting, Apr 25, 2024 Appirits Inc., Annual General Meeting, Apr 25, 2024. Reported Earnings • Mar 17
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥94.25 (up from JP¥52.17 in FY 2023). Revenue: JP¥8.43b (up 15% from FY 2023). Net income: JP¥386.0m (up 84% from FY 2023). Profit margin: 4.6% (up from 2.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 6.7%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the IT industry in Japan. Buy Or Sell Opportunity • Feb 21
Now 20% undervalued Over the last 90 days, the stock has risen 15% to JP¥1,230. The fair value is estimated to be JP¥1,547, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last year. Earnings per share has grown by 64%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 68% in the next 2 years. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥6.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 15 April 2024. Payout ratio is a comfortable 6.6% 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 (1.4%). Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,253, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the IT industry in Japan. Total returns to shareholders of 2.6% over the past year. New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (JP¥4.73b market cap, or US$32.0m). Announcement • Dec 29
Appirits Inc. to Report Fiscal Year 2024 Results on Mar 15, 2024 Appirits Inc. announced that they will report fiscal year 2024 results on Mar 15, 2024 Reported Earnings • Dec 16
Third quarter 2024 earnings released: EPS: JP¥29.24 (vs JP¥9.62 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.24 (up from JP¥9.62 in 3Q 2023). Revenue: JP¥2.18b (up 5.8% from 3Q 2023). Net income: JP¥120.0m (up 208% from 3Q 2023). Profit margin: 5.5% (up from 1.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Japan. Announcement • Dec 01
Appirits Inc. Provides Earnings Guidance for the Full Year Ending January 31, 2024 Appirits Inc. provided earnings guidance for the Full year ending January 31, 2024. For the year, the company expects total revenue of JPY 8,734 million, Operating profit of JPY 550 million, Profit attributable to owners of parent JPY 327 million, Basic earnings per share of JPY 81.32. New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (JP¥4.18b market cap, or US$27.9m). Reported Earnings • Sep 16
Second quarter 2024 earnings released Second quarter 2024 results: EPS: JP¥21.71. Net income: JP¥89.0m (up JP¥89.0m from 2Q 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. Announcement • Sep 16
Appirits Inc. (TSE:4174) announces an Equity Buyback for 50,000 shares, representing 1.2% for ¥80 million. Appirits Inc. (TSE:4174) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 1.20% of its share capital, for ¥80 million. The company will repurchase its shares in order to utilize treasury stock for M&A, etc., as well as for the 30% total return ratio set forth in his dividend policy.. The program will expire on March 15, 2024. As of July 31, 2023, the company had 4,151,400 shares outstanding (excluding treasury shares) and 50,038 shares in treasury. Upcoming Dividend • Jul 21
Upcoming dividend of JP¥6.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 13 October 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.6%). Reported Earnings • Jun 16
First quarter 2024 earnings released First quarter 2024 results: EPS: JP¥15.18. Net income: JP¥62.0m (up JP¥62.0m from 1Q 2023). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. New Risk • Jun 15
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 8.2% 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 (8.2% average weekly change). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (JP¥4.47b market cap, or US$32.0m). Reported Earnings • May 03
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥52.17 (up from JP¥28.32 in FY 2022). Revenue: JP¥7.32b (up 53% from FY 2022). Net income: JP¥210.0m (up 93% from FY 2022). Profit margin: 2.9% (up from 2.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the IT industry in Japan. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥969, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the IT industry in Japan. Negligible returns to shareholders over past year. Announcement • Jan 28
Appirits Inc. to Report Fiscal Year 2023 Results on Mar 17, 2023 Appirits Inc. announced that they will report fiscal year 2023 results on Mar 17, 2023 Upcoming Dividend • Jan 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 January 2023. Payment date: 12 April 2023. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,116, 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 87% over the past year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Outside Director Kenichi Kitou was the last independent director to join the board, commencing their role in 2004. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 21
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be JP¥1,571, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Announcement • Oct 05
Appirits Inc. to Report Q3, 2023 Results on Dec 15, 2022 Appirits Inc. announced that they will report Q3, 2023 results on Dec 15, 2022 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,011, the stock trades at a trailing P/E ratio of 37.7x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 25% over the past year. Announcement • Sep 14
Appirits Inc. (TSE:4174) announces an Equity Buyback for 50,000 shares, representing 1.23% for ¥70 million. Appirits Inc. (TSE:4174) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 1.23% of its share capital, for ¥70 million. The company will repurchase its shares in order to obtain a positive commitment to improving the corporate value of the Company by utilizing treasury stock for M&A, etc. and for stock compensation for officers and employees of the Group. The program will expire on March 13, 2023. As of July 31, 2022, the company had 4,068,900 shares outstanding (excluding treasury shares) and no shares in treasury. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,165, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 48% over the past year. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,028, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,068, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 17% over the past year. Announcement • Jul 02
Appirits Inc. to Report Q2, 2023 Results on Sep 14, 2022 Appirits Inc. announced that they will report Q2, 2023 results on Sep 14, 2022 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,010, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 18x in the IT industry in Japan. Total loss to shareholders of 7.5% over the past year. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥1,206, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 12% over the past year. Board Change • Apr 27
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. 5 experienced directors. 3 highly experienced directors. 1 independent director (3 non-independent directors). Independent Outside Director Kenichi Kitou was the last independent director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Appirits Inc. to Report Fiscal Year 2022 Results on Apr 26, 2022 Appirits Inc. announced that they will report fiscal year 2022 results on Apr 26, 2022 Reported Earnings • Mar 18
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥28.32 (down from JP¥117 in FY 2021). Revenue: JP¥4.80b (up 23% from FY 2021). Net income: JP¥109.0m (down 13% from FY 2021). Profit margin: 2.3% (down from 3.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥935, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 34% over the past year. Buying Opportunity • Mar 07
Now 25% undervalued Over the last 90 days, the stock is up 32%. The fair value is estimated to be JP¥990, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥763, the stock trades at a trailing P/E ratio of 33.5x. Average trailing P/E is 17x in the IT industry in Japan. Buying Opportunity • Feb 18
Now 20% undervalued Over the last 90 days, the stock is up 38%. The fair value is estimated to be JP¥993, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. Earnings per share has been flat over the last 3 years.