Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 6.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥27.21 (vs JP¥23.18 in 3Q 2025) Third quarter 2026 results: EPS: JP¥27.21 (up from JP¥23.18 in 3Q 2025). Revenue: JP¥5.86b (up 24% from 3Q 2025). Net income: JP¥720.1m (up 15% from 3Q 2025). Profit margin: 12% (in line with 3Q 2025). Revenue is forecast to grow 10% 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 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 02
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 4.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but not covered by cash flows (139% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
ITFOR Inc. to Report Q3, 2026 Results on Feb 12, 2026 ITFOR Inc. announced that they will report Q3, 2026 results on Feb 12, 2026 New Risk • Nov 19
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 139% Dividend yield: 6.1% 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. Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: JP¥23.94 (vs JP¥18.82 in 2Q 2025) Second quarter 2026 results: EPS: JP¥23.94 (up from JP¥18.82 in 2Q 2025). Revenue: JP¥4.99b (up 6.1% from 2Q 2025). Net income: JP¥633.3m (up 24% from 2Q 2025). Profit margin: 13% (up from 11% in 2Q 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 5.4% growth forecast for the IT 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 increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 03
ITFOR Inc. (TSE:4743) completed the acquisition of additional 24.1% stake in Aisel Corporation. ITFOR Inc. (TSE:4743) signed memorandum of understanding to acquire additional 24.1% stake in Aisel Corporation on August 22, 2025. Upon completion, ITFOR Inc. will own 41.2% stake in Aisel Corporation.
For the period ended December 31, 2025, Aisel Corporation reported revenue of ¥1.723 billion, net assets of ¥643.07 million, total assets of ¥1.510 billion, operating income of ¥145 million and net income of ¥95.97 million.
The expected completion of the transaction is October 1, 2025.
ITFOR Inc. (TSE:4743) completed the acquisition of additional 24.1% stake in Aisel Corporation on October 1, 2025. Announcement • Sep 27
ITFOR Inc. to Report Q2, 2026 Results on Nov 13, 2025 ITFOR Inc. announced that they will report Q2, 2026 results on Nov 13, 2025 Announcement • Aug 23
ITFOR Inc. (TSE:4743) signed Memorandum of Understanding to acquire additional 20.9% stake in Aisel Corporation. ITFOR Inc. (TSE:4743) signed Memorandum of Understanding to acquire additional 20.9% stake in Aisel Corporation on August 22, 2025. Upon completion, ITFOR Inc. will own 41.2% stake in Aisel Corporation.
The expected completion of the transaction is October 1, 2025. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥13.40 (vs JP¥20.29 in 1Q 2025) First quarter 2026 results: EPS: JP¥13.40 (down from JP¥20.29 in 1Q 2025). Revenue: JP¥4.24b (down 14% from 1Q 2025). Net income: JP¥354.0m (down 36% from 1Q 2025). Profit margin: 8.4% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% 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 13% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
ITFOR Inc. to Report Q1, 2026 Results on Aug 08, 2025 ITFOR Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥108 (up from JP¥102 in FY 2024). Revenue: JP¥20.6b (flat on FY 2024). Net income: JP¥2.91b (up 5.2% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) exceeded analyst estimates by 6.0%. Revenue is forecast to grow 13% 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 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 12% to JP¥1,477. The fair value is estimated to be JP¥1,879, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Announcement • May 13
ITFOR Inc., Annual General Meeting, Jun 20, 2025 ITFOR Inc., Annual General Meeting, Jun 20, 2025. Buy Or Sell Opportunity • Mar 31
Now 21% undervalued Over the last 90 days, the stock has risen 4.1% to JP¥1,485. The fair value is estimated to be JP¥1,885, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Announcement • Mar 28
ITFOR Inc. to Report Fiscal Year 2025 Results on May 13, 2025 ITFOR Inc. announced that they will report fiscal year 2025 results on May 13, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Mar 03
ITFOR Inc. (TSE:4743) announces an Equity Buyback for 180,000 shares, representing 0.68% for ¥280 million. ITFOR Inc. (TSE:4743) announces a share repurchase program. Under the program, the company will repurchase up to 180,000 shares, representing 0.68% of its issued share capital, for ¥280 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and improve capital efficiency. The program is valid till March 21, 2025. As of February 28, 2025, the company had 26,581,487 outstanding shares (excluding treasury stock) and 2,030,413 treasury shares. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥23.18 (vs JP¥26.52 in 3Q 2024) Third quarter 2025 results: EPS: JP¥23.18 (down from JP¥26.52 in 3Q 2024). Revenue: JP¥4.74b (down 5.3% from 3Q 2024). Net income: JP¥626.7m (down 13% from 3Q 2024). Profit margin: 13% (down from 14% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% 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 11% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 03
First half dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: JP¥18.82 (vs JP¥24.03 in 2Q 2024) Second quarter 2025 results: EPS: JP¥18.82 (down from JP¥24.03 in 2Q 2024). Revenue: JP¥4.70b (down 5.8% from 2Q 2024). Net income: JP¥509.8m (down 22% from 2Q 2024). Profit margin: 11% (down from 13% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% 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 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 12
ITFOR Inc. (TSE:4743) announces an Equity Buyback for 700,000 shares, representing 2.58% for ¥1,000 million. ITFOR Inc. (TSE:4743) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 2.58% of its issued share capital, for ¥1,000 million. The purpose of the program is to improve capital efficiency and to implement flexible capital policies in response to changes in the business environment . The program is valid till February 28, 2025. As of October 31, 2024, the company had 27,092,502 outstanding shares (excluding treasury stock) and 1,519,398 treasury shares. New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥20.28 (vs JP¥19.42 in 1Q 2024) First quarter 2025 results: EPS: JP¥20.28 (up from JP¥19.42 in 1Q 2024). Revenue: JP¥4.92b (up 10% from 1Q 2024). Net income: JP¥549.0m (up 2.2% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue is forecast to grow 8.7% 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 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. 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 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,165, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 56% over the past three years. Buy Or Sell Opportunity • Aug 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to JP¥1,165. The fair value is estimated to be JP¥1,605, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥102 (vs JP¥82.94 in FY 2023) Full year 2024 results: EPS: JP¥102 (up from JP¥82.94 in FY 2023). Revenue: JP¥20.7b (up 13% from FY 2023). Net income: JP¥2.77b (up 21% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 11
Full year 2024 earnings released: EPS: JP¥102 (vs JP¥82.94 in FY 2023) Full year 2024 results: EPS: JP¥102 (up from JP¥82.94 in FY 2023). Revenue: JP¥20.7b (up 13% from FY 2023). Net income: JP¥2.77b (up 21% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
ITFOR Inc., Annual General Meeting, Jun 21, 2024 ITFOR Inc., Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: JP¥26.51 (vs JP¥14.58 in 3Q 2023) Third quarter 2024 results: EPS: JP¥26.51 (up from JP¥14.58 in 3Q 2023). Revenue: JP¥5.01b (up 41% from 3Q 2023). Net income: JP¥717.0m (up 78% from 3Q 2023). Profit margin: 14% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. 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 15% per year. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥24.03 (vs JP¥21.42 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.03 (up from JP¥21.42 in 2Q 2023). Revenue: JP¥4.99b (up 13% from 2Q 2023). Net income: JP¥652.0m (up 10% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). 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 • Aug 10
First quarter 2024 earnings released: EPS: JP¥19.42 (vs JP¥18.86 in 1Q 2023) First quarter 2024 results: EPS: JP¥19.42 (up from JP¥18.86 in 1Q 2023). Revenue: JP¥4.46b (down 1.4% from 1Q 2023). Net income: JP¥537.0m (up 3.3% from 1Q 2023). Profit margin: 12% (in line with 1Q 2023). 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 9% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
ITFOR Inc. to Report Q1, 2024 Results on Aug 09, 2023 ITFOR Inc. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • Jun 24
Full year 2023 earnings released: EPS: JP¥82.94 (vs JP¥76.81 in FY 2022) Full year 2023 results: EPS: JP¥82.94 (up from JP¥76.81 in FY 2022). Revenue: JP¥18.3b (up 7.6% from FY 2022). Net income: JP¥2.29b (up 8.5% from FY 2022). Profit margin: 13% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 13% per year. Announcement • Jun 14
ITFOR Inc. (TSE:4743) announces an Equity Buyback for 882,000 shares, representing 3.18% for ¥900 million. ITFOR Inc. (TSE:4743) announces a share repurchase program. Under the program, the company will repurchase up to 882,000 shares, representing 3.18% of its share capital, for ¥900 million. The purpose of the program is to implement a flexible capital policy and improve capital efficiency in response to changes in the business environment. The program will expire on March 29, 2024. As of May 31, 2023, the company had 27,717,296 shares in issue (excluding treasury stock) and 1,712,704 shares in treasury. Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥82.94 (vs JP¥76.81 in FY 2022) Full year 2023 results: EPS: JP¥82.94 (up from JP¥76.81 in FY 2022). Revenue: JP¥18.3b (up 7.6% from FY 2022). Net income: JP¥2.29b (up 8.5% from FY 2022). Profit margin: 13% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 13
ITFOR Inc., Annual General Meeting, Jun 21, 2023 ITFOR Inc., Annual General Meeting, Jun 21, 2023. Buying Opportunity • Apr 07
Now 21% undervalued Over the last 90 days, the stock is up 3.3%. The fair value is estimated to be JP¥1,077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 19%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Buying Opportunity • Mar 21
Now 20% undervalued Over the last 90 days, the stock is up 4.0%. The fair value is estimated to be JP¥1,070, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 19%. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥14.58 (vs JP¥15.73 in 3Q 2022) Third quarter 2023 results: EPS: JP¥14.58 (down from JP¥15.73 in 3Q 2022). Revenue: JP¥3.54b (down 14% from 3Q 2022). Net income: JP¥403.0m (down 6.9% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Dec 22
ITFOR Inc. to Report Q3, 2023 Results on Feb 09, 2023 ITFOR Inc. announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Waka Abe was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥21.42 (vs JP¥18.97 in 2Q 2022) Second quarter 2023 results: EPS: JP¥21.42 (up from JP¥18.97 in 2Q 2022). Revenue: JP¥4.44b (up 12% from 2Q 2022). Net income: JP¥591.0m (up 13% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Oct 02
ITFOR Inc. to Report Q2, 2023 Results on Nov 09, 2022 ITFOR Inc. announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥18.86 (vs JP¥24.02 in 1Q 2022) First quarter 2023 results: EPS: JP¥18.86 (down from JP¥24.02 in 1Q 2022). Revenue: JP¥4.52b (down 3.4% from 1Q 2022). Net income: JP¥520.0m (down 21% from 1Q 2022). Profit margin: 12% (down from 14% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 25
ITFOR Inc. to Report Q1, 2023 Results on Aug 09, 2022 ITFOR Inc. announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • Jun 22
Full year 2022 earnings released: EPS: JP¥76.81 (vs JP¥61.53 in FY 2021) Full year 2022 results: EPS: JP¥76.81 (up from JP¥61.53 in FY 2021). Revenue: JP¥17.0b (up 4.5% from FY 2021). Net income: JP¥2.11b (up 26% from FY 2021). Profit margin: 12% (up from 10% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥76.81 (vs JP¥61.53 in FY 2021) Full year 2022 results: EPS: JP¥76.81 (up from JP¥61.53 in FY 2021). Revenue: JP¥17.0b (up 4.5% from FY 2021). Net income: JP¥2.11b (up 26% from FY 2021). Profit margin: 12% (up from 10% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 15
ITFOR Inc., Annual General Meeting, Jun 17, 2022 ITFOR Inc., Annual General Meeting, Jun 17, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Waka Abe was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
ITFOR Inc. to Report Fiscal Year 2022 Results on May 12, 2022 ITFOR Inc. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥15.73 (up from JP¥12.16 in 3Q 2021). Revenue: JP¥4.14b (up 16% from 3Q 2021). Net income: JP¥433.0m (up 30% from 3Q 2021). Profit margin: 11% (up from 9.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥18.97 (vs JP¥16.26 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥3.95b (down 1.7% from 2Q 2021). Net income: JP¥521.0m (up 17% from 2Q 2021). Profit margin: 13% (up from 11% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥24.02 (vs JP¥7.88 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥4.68b (up 37% from 1Q 2021). Net income: JP¥659.0m (up 207% from 1Q 2021). Profit margin: 14% (up from 6.3% 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 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 24
Mayumi Ono agreed to acquire remaining 45% stake in Grassroots, Inc. from ITFOR Inc. (TSE:4743). Mayumi Ono agreed to acquire remaining 45% stake in Grassroots, Inc. from ITFOR Inc. (TSE:4743) on June 22, 2021. In the acquisition, ITFOR Inc. (TSE:4743) will dispose 360 shares. The transaction is expected to close on June 25, 2021. Reported Earnings • Jun 23
Full year 2021 earnings released: EPS JP¥61.53 (vs JP¥44.97 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥16.3b (up 6.9% from FY 2020). Net income: JP¥1.68b (up 37% from FY 2020). Profit margin: 10% (up from 8.1% in FY 2020). 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 fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥61.53 (vs JP¥44.97 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥16.3b (up 6.9% from FY 2020). Net income: JP¥1.68b (up 37% from FY 2020). Profit margin: 10% (up from 8.1% in FY 2020). 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 fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Is New 90 Day High Low • Feb 17
New 90-day low: JP¥880 The company is down 2.0% from its price of JP¥902 on 19 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 11% over the same period. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥12.16 (vs JP¥5.91 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥3.56b (down 3.2% from 3Q 2020). Net income: JP¥333.0m (up 106% from 3Q 2020). Profit margin: 9.4% (up from 4.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 25
New 90-day high: JP¥966 The company is up 8.0% from its price of JP¥894 on 27 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: JP¥945 The company is up 9.0% from its price of JP¥865 on 16 September 2020. The Japanese market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the IT industry, which is up 5.0% over the same period. Announcement • Dec 05
ITFOR Inc. to Report Q3, 2021 Results on Jan 29, 2021 ITFOR Inc. announced that they will report Q3, 2021 results on Jan 29, 2021 Announcement • Sep 30
Yoshikazu Kobayashi, President and Director of Snappy Communications Inc. signed an agreement to acquire Snappy Communications, inc from ITFOR Inc. (TSE:4743). Yoshikazu Kobayashi, President and Director of Snappy Communications Inc. signed an agreement to acquire Snappy Communications, inc from ITFOR Inc. (TSE:4743) on September 29, 2020. Under the agreement 800 shares of Snappy will be acquired. For the year ended March 31, 2020, Snappy reported ¥5.04 million of Total Assets and negative net worth of ¥39.91 million. The transaction is expected to be closed on September 30, 2020. Announcement • Sep 12
ITFOR Inc. to Report Q2, 2021 Results on Oct 30, 2020 ITFOR Inc. announced that they will report Q2, 2021 results on Oct 30, 2020 Announcement • Jun 21
ITFOR Inc. to Report Q1, 2021 Results on Jul 31, 2020 ITFOR Inc. announced that they will report Q1, 2021 results on Jul 31, 2020