Reported Earnings • Apr 10
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥188 (up from JP¥172 in FY 2025). Revenue: JP¥30.9b (up 7.8% from FY 2025). Net income: JP¥6.50b (up 9.6% from FY 2025). Profit margin: 21% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.4%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Announcement • Apr 09
WingArc1st Inc., Annual General Meeting, May 28, 2026 WingArc1st Inc., Annual General Meeting, May 28, 2026. Buy Or Sell Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to JP¥2,541. The fair value is estimated to be JP¥3,202, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 6.2%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.2%). Reported Earnings • Jan 15
Third quarter 2026 earnings released: EPS: JP¥42.81 (vs JP¥32.04 in 3Q 2025) Third quarter 2026 results: EPS: JP¥42.81 (up from JP¥32.04 in 3Q 2025). Revenue: JP¥7.79b (up 16% from 3Q 2025). Net income: JP¥1.48b (up 34% from 3Q 2025). Profit margin: 19% (up from 16% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 14
Now 20% undervalued Over the last 90 days, the stock has risen 14% to JP¥3,475. The fair value is estimated to be JP¥4,366, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Buy Or Sell Opportunity • Dec 24
Now 21% undervalued Over the last 90 days, the stock has risen 4.4% to JP¥3,555. The fair value is estimated to be JP¥4,492, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Announcement • Nov 05
WingArc1st Inc. to Report Q3, 2026 Results on Jan 15, 2026 WingArc1st Inc. announced that they will report Q3, 2026 results on Jan 15, 2026 Reported Earnings • Oct 16
Second quarter 2026 earnings released: EPS: JP¥42.48 (vs JP¥53.61 in 2Q 2025) Second quarter 2026 results: EPS: JP¥42.48 (down from JP¥53.61 in 2Q 2025). Revenue: JP¥7.40b (down 4.6% from 2Q 2025). Net income: JP¥1.47b (down 20% from 2Q 2025). Profit margin: 20% (down from 24% in 2Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 22
WingArc1st Inc. to Report Q2, 2026 Results on Oct 15, 2025 WingArc1st Inc. announced that they will report Q2, 2026 results on Oct 15, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 11 November 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Buy Or Sell Opportunity • Aug 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.6% to JP¥3,600. The fair value is estimated to be JP¥4,567, 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 6.7%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Buy Or Sell Opportunity • Jul 29
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to JP¥3,580. The fair value is estimated to be JP¥4,586, 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 6.7%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Reported Earnings • Jul 14
First quarter 2026 earnings released: EPS: JP¥42.36 (vs JP¥50.79 in 1Q 2025) First quarter 2026 results: EPS: JP¥42.36 (down from JP¥50.79 in 1Q 2025). Revenue: JP¥7.31b (up 2.7% from 1Q 2025). Net income: JP¥1.47b (down 16% from 1Q 2025). Profit margin: 20% (down from 25% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 12
Final dividend increased to JP¥52.00 Dividend of JP¥52.00 is 24% higher than last year. Ex-date: 28th August 2025 Payment date: 11th November 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 26% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
WingArc1st Inc. (TSE:4432) acquired Digital Government Business from Smartvalue Co., Ltd. (TSE:9417). WingArc1st Inc. (TSE:4432) agreed to acquire Digital Government Business from Smartvalue Co., Ltd. (TSE:9417) for ¥2.3 billion on April 10, 2025. A cash consideration of ¥2.3 billion will be paid by WingArc1st Inc. As part of consideration, ¥2.3 billion is paid towards assets of Digital Government Business of Smartvalue Co., Ltd. Smartvalue will issue target'a 500 common shares at the time of the Company Split.
For the period ending June 30, 2024, Digital Government Business of Smartvalue Co., Ltd reported total revenue of ¥3.81 billion, operating loss of ¥308 million and net loss of ¥348 million. As of June 30, 2024, Digital Government Business of Smartvalue Co., Ltd reported total assets of ¥4.04 billion and total common equity of ¥2.16 billion.
The expected completion of the transaction is June 30, 2025.
WingArc1st Inc. (TSE:4432) completed the acquisition of Digital Government Business from Smartvalue Co., Ltd. (TSE:9417) on June 30, 2025. Reported Earnings • Jun 04
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥172 (up from JP¥158 in FY 2024). Revenue: JP¥28.7b (up 12% from FY 2024). Net income: JP¥5.93b (up 9.6% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 22
WingArc1st Inc. to Report Q1, 2026 Results on Jul 10, 2025 WingArc1st Inc. announced that they will report Q1, 2026 results on Jul 10, 2025 Reported Earnings • Apr 11
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥172 (up from JP¥158 in FY 2024). Revenue: JP¥28.7b (up 12% from FY 2024). Net income: JP¥5.93b (up 9.6% from FY 2024). Profit margin: 21% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.2%). Announcement • Feb 03
WingArc1st Inc. to Report Fiscal Year 2025 Results on Apr 10, 2025 WingArc1st Inc. announced that they will report fiscal year 2025 results on Apr 10, 2025 Declared Dividend • Jan 19
Dividend increased to JP¥62.00 Dividend of JP¥62.00 is 37% higher than last year. Ex-date: 27th February 2025 Payment date: 16th May 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 21% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 29% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jan 18
Now 21% undervalued Over the last 90 days, the stock has risen 2.1% to JP¥3,340. The fair value is estimated to be JP¥4,242, 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 6.6%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥32.03 (vs JP¥32.22 in 3Q 2024) Third quarter 2025 results: EPS: JP¥32.03. Revenue: JP¥6.74b (up 8.9% from 3Q 2024). Net income: JP¥1.11b (flat on 3Q 2024). Profit margin: 16% (down from 18% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Software industry in Japan. Announcement • Nov 27
WingArc1st Inc. to Report Q3, 2025 Results on Jan 14, 2025 WingArc1st Inc. announced that they will report Q3, 2025 results on Jan 14, 2025 Reported Earnings • Oct 11
Second quarter 2025 earnings released: EPS: JP¥53.63 (vs JP¥45.54 in 2Q 2024) Second quarter 2025 results: EPS: JP¥53.63 (up from JP¥45.54 in 2Q 2024). Revenue: JP¥7.75b (up 18% from 2Q 2024). Net income: JP¥1.85b (up 19% from 2Q 2024). Profit margin: 24% (in line with 2Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 13 November 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,394, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Software industry in Japan. Total returns to shareholders of 37% over the past three years. Announcement • Jul 30
WingArc1st Inc. to Report Q2, 2025 Results on Oct 10, 2024 WingArc1st Inc. announced that they will report Q2, 2025 results on Oct 10, 2024 Reported Earnings • Jul 13
First quarter 2025 earnings released: EPS: JP¥50.80 (vs JP¥53.84 in 1Q 2024) First quarter 2025 results: EPS: JP¥50.80 (down from JP¥53.84 in 1Q 2024). Revenue: JP¥7.12b (up 2.9% from 1Q 2024). Net income: JP¥1.75b (down 4.8% from 1Q 2024). Profit margin: 25% (down from 27% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 06
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥158 (up from JP¥130 in FY 2023). Revenue: JP¥25.8b (up 15% from FY 2023). Net income: JP¥5.41b (up 23% from FY 2023). Profit margin: 21% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 29
WingArc1st Inc. to Report Q1, 2025 Results on Jul 11, 2024 WingArc1st Inc. announced that they will report Q1, 2025 results on Jul 11, 2024 Reported Earnings • Apr 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥158 (up from JP¥130 in FY 2023). Revenue: JP¥25.8b (up 15% from FY 2023). Net income: JP¥5.41b (up 23% from FY 2023). Profit margin: 21% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.2% to JP¥2,978. The fair value is estimated to be JP¥3,812, 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 19%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Buy Or Sell Opportunity • Mar 14
Now 21% undervalued Over the last 90 days, the stock has risen 3.6% to JP¥3,025. The fair value is estimated to be JP¥3,809, 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 19%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Announcement • Feb 28
WingArc1st Inc. to Report Fiscal Year 2024 Results on Apr 11, 2024 WingArc1st Inc. announced that they will report fiscal year 2024 results on Apr 11, 2024 Upcoming Dividend • Feb 21
Upcoming dividend of JP¥42.20 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 13 May 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). New Risk • Jan 15
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 5.6% 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 (5.6% average weekly change). Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥32.24 (vs JP¥32.58 in 3Q 2023) Third quarter 2024 results: EPS: JP¥32.24 (down from JP¥32.58 in 3Q 2023). Revenue: JP¥6.19b (up 9.7% from 3Q 2023). Net income: JP¥1.10b (flat on 3Q 2023). Profit margin: 18% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Buying Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock is up 7.4%. The fair value is estimated to be JP¥3,544, 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 19%. Revenue is forecast to grow by 32% in 2 years. Earnings is forecast to grow by 29% in the next 2 years. Announcement • Jan 12
WingArc1st Inc. Revises Dividend Guidance for the Fiscal Year Ending February 29, 2024 WingArc1st Inc. revised dividend guidance for the fiscal year ending February 29, 2024. For the year-end, company now expects to pay year-end dividend of JPY 42.20 per share compared to JPY 21.80 per share paid a year ago. Announcement • Nov 10
WingArc1st Inc. to Report Q3, 2024 Results on Jan 12, 2024 WingArc1st Inc. announced that they will report Q3, 2024 results on Jan 12, 2024 Announcement • Oct 19
WingArc1st Inc. Announces Resignation of Masato Horiuchi as Outside Director WingArc1st Inc. announced resignation of Masato Horiuchi as Outside Director, due to personal reasons. Date of resignation is October 19, 2023. Reported Earnings • Oct 13
Second quarter 2024 earnings released: EPS: JP¥45.57 (vs JP¥39.87 in 2Q 2023) Second quarter 2024 results: EPS: JP¥45.57 (up from JP¥39.87 in 2Q 2023). Revenue: JP¥6.58b (up 16% from 2Q 2023). Net income: JP¥1.56b (up 15% from 2Q 2023). Profit margin: 24% (in line with 2Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Announcement • Oct 13
WingArc1st Inc. Revises Dividend Guidance for the Second Quarter and Year End for the Fiscal Year Ending February 29, 2024 WingArc1st Inc. revised dividend guidance for the second quarter and year end for the fiscal year ending February 29, 2024. For the second quarter, company expects to pay dividend of JPY 33.50 per share compared to JPY 21.30 per share paid a year ago. Record date is August 31, 2023. Effective date is November 13, 2023.For the year-end, company expects to pay year-end dividend of JPY 33.50 per share compared to JPY 21.80 per share paid a year ago. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥22.50 per share at 1.7% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 09 November 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.7%). Announcement • Aug 03
WingArc1st Inc. to Report Q2, 2024 Results on Oct 12, 2023 WingArc1st Inc. announced that they will report Q2, 2024 results on Oct 12, 2023 New Risk • Jul 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 7.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥2,750, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 30x in the Software industry in Japan. Total returns to shareholders of 56% over the past year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,619, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 29x in the Software industry in Japan. Total returns to shareholders of 89% over the past year. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,699 per share. Reported Earnings • May 30
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥130. Revenue: JP¥22.3b (up 13% from FY 2022). Net income: JP¥4.40b (up 1.1% from FY 2022). Profit margin: 20% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Buying Opportunity • May 10
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be JP¥2,688, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings is also forecast to grow by 8.1% per annum over the same time period. Reported Earnings • Apr 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥130. Revenue: JP¥22.3b (up 13% from FY 2022). Net income: JP¥4.40b (up 1.1% from FY 2022). Profit margin: 20% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Japan. Price Target Changed • Apr 14
Price target increased by 11% to JP¥2,100 Up from JP¥1,900, the current price target is provided by 1 analyst. New target price is 5.7% above last closing price of JP¥1,986. Stock is up 52% over the past year. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥21.30 per share at 2.4% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 11 May 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Jan 13
Third quarter 2023 earnings released: EPS: JP¥32.59 (vs JP¥37.16 in 3Q 2022) Third quarter 2023 results: EPS: JP¥32.59 (down from JP¥37.16 in 3Q 2022). Revenue: JP¥5.64b (up 8.9% from 3Q 2022). Net income: JP¥1.11b (down 12% from 3Q 2022). Profit margin: 20% (down from 24% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Announcement • Nov 30
WingArc1st Inc. to Report Q3, 2023 Results on Jan 12, 2023 WingArc1st Inc. announced that they will report Q3, 2023 results on Jan 12, 2023 Board Change • Nov 16
High number of new directors Independent Outside Director Shunsuke Okada was the last director to join the board, commencing their role in 2022. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥2,192, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 4.5% over the past year. Reported Earnings • Oct 13
Second quarter 2023 earnings released: EPS: JP¥39.88 (vs JP¥33.92 in 2Q 2022) Second quarter 2023 results: EPS: JP¥39.88 (up from JP¥33.92 in 2Q 2022). Revenue: JP¥5.65b (up 14% from 2Q 2022). Net income: JP¥1.35b (up 21% from 2Q 2022). Profit margin: 24% (up from 23% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Announcement • Sep 04
WingArc1st Inc. to Report Q2, 2023 Results on Oct 12, 2022 WingArc1st Inc. announced that they will report Q2, 2023 results on Oct 12, 2022 Upcoming Dividend • Aug 23
Upcoming dividend of JP¥21.30 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Jul 14
First quarter 2023 earnings released: EPS: JP¥42.69 (vs JP¥32.47 in 1Q 2022) First quarter 2023 results: EPS: JP¥42.69 (up from JP¥32.47 in 1Q 2022). Revenue: JP¥5.72b (up 21% from 1Q 2022). Net income: JP¥1.45b (up 44% from 1Q 2022). Profit margin: 25% (up from 21% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.0%, compared to a 14% growth forecast for the industry in Japan. Announcement • Jul 14
Wingarc1st Inc. Provides Earnings Forecasts for the Fiscal Year Ending February 28, 2023 WingArc1st Inc. provides earnings forecasts for the fiscal year ending February 28, 2023. For the year, company expects revenue of JPY 21,000 million, operating profit to be JPY 4,750 million. Price Target Changed • Jul 14
Price target increased to JP¥1,500 Up from JP¥1,400, the current price target is provided by 1 analyst. New target price is 6.3% below last closing price of JP¥1,600. Stock is down 27% over the past year. The company is forecast to post earnings per share of JP¥107 for next year compared to JP¥132 last year. Reported Earnings • Jun 01
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥132 (up from JP¥79.45 in FY 2021). Revenue: JP¥19.8b (up 8.5% from FY 2021). Net income: JP¥4.35b (up 78% from FY 2021). Profit margin: 22% (up from 13% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 7.6%, compared to a 13% growth forecast for the industry in Japan. Board Change • May 31
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Kotaro Yamazawa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • May 20
WingArc1st Inc. to Report Q1, 2023 Results on Jul 13, 2022 WingArc1st Inc. announced that they will report Q1, 2023 results on Jul 13, 2022