Reported Earnings • Apr 16
First quarter 2026 earnings released: JP¥54.92 loss per share (vs JP¥31.26 loss in 1Q 2025) First quarter 2026 results: JP¥54.92 loss per share (further deteriorated from JP¥31.26 loss in 1Q 2025). Revenue: JP¥820.0m (up 2.4% from 1Q 2025). Net loss: JP¥77.0m (loss widened 82% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Apr 07
GRCS Inc. to Report Q1, 2026 Results on Apr 14, 2026 GRCS Inc. announced that they will report Q1, 2026 results on Apr 14, 2026 Reported Earnings • Mar 03
Full year 2025 earnings released: JP¥390 loss per share (vs JP¥84.67 profit in FY 2024) Full year 2025 results: JP¥390 loss per share (down from JP¥84.67 profit in FY 2024). Revenue: JP¥3.33b (up 1.4% from FY 2024). Net loss: JP¥527.0m (down JP¥639.0m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Feb 05
GRCS Inc. announced that it has received ¥96.715 million in funding from Fixstars Investment Co., Ltd. On February 3, 2026, the GRCS Inc. closed the transaction. Announcement • Jan 20
GRCS Inc., Annual General Meeting, Feb 27, 2026 GRCS Inc., Annual General Meeting, Feb 27, 2026. New Risk • Jan 20
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 9.7% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risks Negative equity (-JP¥96m). Market cap is less than US$100m (JP¥1.76b market cap, or US$11.2m). Reported Earnings • Jan 20
Full year 2025 earnings released: JP¥391 loss per share (vs JP¥84.67 profit in FY 2024) Full year 2025 results: JP¥391 loss per share (down from JP¥84.67 profit in FY 2024). Revenue: JP¥3.33b (up 1.4% from FY 2024). Net loss: JP¥527.9m (down JP¥639.9m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Jan 20
GRCS Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending November 30, 2026 GRCS Inc. provided consolidated earnings guidance for the fiscal year ending November 30, 2026. For the period, the company expected net sales of JPY 3,678 million, operating profit of JPY 119 million, profit attributable to owners of parent of JPY 67 million and basic earnings per share of JPY 50.33. Announcement • Jan 19
GRCS Inc. announced that it expects to receive ¥96.715 million in funding GRCS Inc. announced a private placement of 115,000 common shares at a price of ¥841 per share for the gross proceeds of ¥96,715,000 on January 19, 2026. The transaction has been approved by the shareholders of the company and is expected to close on May 13, 2024. The transaction included participation from new investor Fixstars Investment. The company incurred ¥1,750,000 as issuance expenses including primarily of attorney's fees, registration and license taxes, and other administrative expenses. Announcement • Nov 05
GRCS Inc. to Report Fiscal Year 2025 Results on Jan 14, 2026 GRCS Inc. announced that they will report fiscal year 2025 results on Jan 14, 2026 New Risk • Oct 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.53b (US$9.90m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (JP¥1.53b market cap, or US$9.90m). Reported Earnings • Oct 16
Third quarter 2025 earnings released: JP¥0.74 loss per share (vs JP¥26.61 loss in 3Q 2024) Third quarter 2025 results: JP¥0.74 loss per share (improved from JP¥26.61 loss in 3Q 2024). Revenue: JP¥864.0m (up 6.5% from 3Q 2024). Net loss: JP¥1.00m (loss narrowed 97% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Aug 08
GRCS Inc. to Report Q3, 2025 Results on Oct 15, 2025 GRCS Inc. announced that they will report Q3, 2025 results on Oct 15, 2025 Reported Earnings • Jul 17
Second quarter 2025 earnings released: JP¥29.62 loss per share (vs JP¥48.99 loss in 2Q 2024) Second quarter 2025 results: JP¥29.62 loss per share (improved from JP¥48.99 loss in 2Q 2024). Revenue: JP¥822.0m (up 9.9% from 2Q 2024). Net loss: JP¥40.0m (loss narrowed 38% from 2Q 2024). New Risk • Jul 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (JP¥1.76b market cap, or US$11.9m). Announcement • May 29
GRCS Inc. to Report Q2, 2025 Results on Jul 15, 2025 GRCS Inc. announced that they will report Q2, 2025 results on Jul 15, 2025 Reported Earnings • Apr 15
First quarter 2025 earnings released: JP¥32.59 loss per share (vs JP¥51.39 profit in 1Q 2024) First quarter 2025 results: JP¥32.59 loss per share (down from JP¥51.39 profit in 1Q 2024). Revenue: JP¥779.0m (down 10% from 1Q 2024). Net loss: JP¥44.0m (down 167% from profit in 1Q 2024). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,210, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 18x in the Software industry in Japan. Total loss to shareholders of 79% over the past three years. Reported Earnings • Mar 04
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥84.67 (up from JP¥218 loss in FY 2023). Revenue: JP¥3.29b (up 18% from FY 2023). Net income: JP¥112.0m (up JP¥392.0m from FY 2023). Profit margin: 3.4% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates significantly. Announcement • Feb 03
GRCS Inc. to Report Q1, 2025 Results on Apr 14, 2025 GRCS Inc. announced that they will report Q1, 2025 results on Apr 14, 2025 Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,390, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 21x in the Software industry in Japan. Total loss to shareholders of 58% over the past three years. Announcement • Jan 16
GRCS Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending November 30, 2025 GRCS Inc. provided consolidated earnings guidance for the fiscal year ending November 30, 2025. For the period, the company expected net sales of JPY 3,953 million, operating profit of JPY 115 million, profit attributable to owners of parent of JPY 60 million and basic earnings per share of JPY 44.92. Reported Earnings • Jan 15
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥84.67 (up from JP¥218 loss in FY 2023). Revenue: JP¥3.29b (up 18% from FY 2023). Net income: JP¥112.0m (up JP¥392.0m from FY 2023). Profit margin: 3.4% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates significantly. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Software industry in Japan. Announcement • Jan 14
GRCS Inc., Annual General Meeting, Feb 28, 2025 GRCS Inc., Annual General Meeting, Feb 28, 2025. Breakeven Date Change • Nov 30
Forecast breakeven date pushed back to 2025 The analyst covering GRCS previously expected the company to break even in 2024. New forecast suggests the company will make a profit of JP¥34.0m in 2025. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Reported Earnings • Oct 18
Third quarter 2024 earnings released: JP¥25.92 loss per share (vs JP¥39.72 loss in 3Q 2023) Third quarter 2024 results: JP¥25.92 loss per share (improved from JP¥39.72 loss in 3Q 2023). Revenue: JP¥811.0m (up 19% from 3Q 2023). Net loss: JP¥35.0m (loss narrowed 31% from 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Announcement • Jul 27
GRCS Inc. to Report Q3, 2024 Results on Oct 15, 2024 GRCS Inc. announced that they will report Q3, 2024 results on Oct 15, 2024 Reported Earnings • Jul 16
Second quarter 2024 earnings released: JP¥48.99 loss per share (vs JP¥42.18 loss in 2Q 2023) Second quarter 2024 results: JP¥48.99 loss per share (further deteriorated from JP¥42.18 loss in 2Q 2023). Revenue: JP¥748.0m (up 8.2% from 2Q 2023). Net loss: JP¥64.0m (loss widened 19% from 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Announcement • May 29
GRCS Inc. to Report Q2, 2024 Results on Jul 12, 2024 GRCS Inc. announced that they will report Q2, 2024 results on Jul 12, 2024 New Risk • May 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% 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: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Market cap is less than US$100m (JP¥2.29b market cap, or US$14.6m). Announcement • Apr 27
GRCS Inc. announced that it expects to receive ¥119.943844 million in funding from Milestone Capital Management Co., Ltd. GRCS Inc. announced a private placement of 2,540 series 5 stock acquisition rights at a price of ¥860 per right for the gross proceeds of ¥2,184,400 and 66,000 common shares at a price of ¥1,817 per share for the gross proceeds of ¥119,922,000 for the total gross proceeds of ¥463,702,400 on April 26, 2024. The stock acquisition rights will have an exercise price of ¥1,817 per share. The transaction has been approved by the shareholders of the company and is expected to close on May 13, 2024. The shares will be allocated through third party method of allotment to Milestone Capital Management Co., Ltd.. Reported Earnings • Apr 14
First quarter 2024 earnings released: EPS: JP¥51.39 (vs JP¥42.18 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥51.39 (up from JP¥42.18 loss in 1Q 2023). Revenue: JP¥868.0m (up 26% from 1Q 2023). Net income: JP¥66.0m (up JP¥120.0m from 1Q 2023). Profit margin: 7.6% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Board Change • Mar 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Osamu Yamano was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 18
GRCS Inc. to Report Q1, 2024 Results on Apr 12, 2024 GRCS Inc. announced that they will report Q1, 2024 results on Apr 12, 2024 Announcement • Jan 16
GRCS Inc. Provides Consolidated Earnings Guidance for the Year Ending November 30, 2024 GRCS Inc. provided consolidated earnings guidance for the year ending November 30, 2024. For the period, the company expects net sales of JPY 3,315 million, operating profit of JPY 53 million, profit attributable to owners of parent of JPY 17 million and earnings per share of JPY 13.34. Reported Earnings • Jan 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: JP¥218 loss per share (further deteriorated from JP¥161 loss in FY 2022). Revenue: JP¥2.78b (up 16% from FY 2022). Net loss: JP¥280.0m (loss widened 34% from FY 2022). Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Software industry in Japan. Announcement • Jan 14
GRCS Inc., Annual General Meeting, Feb 28, 2024 GRCS Inc., Annual General Meeting, Feb 28, 2024. Announcement • Nov 29
GRCS Inc. to Report Fiscal Year 2023 Results on Jan 12, 2024 GRCS Inc. announced that they will report fiscal year 2023 results on Jan 12, 2024 Reported Earnings • Oct 15
Third quarter 2023 earnings released: JP¥39.72 loss per share (vs JP¥100.00 loss in 3Q 2022) Third quarter 2023 results: JP¥39.72 loss per share (improved from JP¥100.00 loss in 3Q 2022). Revenue: JP¥681.0m (up 7.2% from 3Q 2022). Net loss: JP¥51.0m (loss narrowed 60% from 3Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Announcement • Sep 01
GRCS Inc. to Report Q3, 2023 Results on Oct 13, 2023 GRCS Inc. announced that they will report Q3, 2023 results on Oct 13, 2023 New Risk • Jul 06
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 Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (JP¥4.35b market cap, or US$30.2m). Announcement • May 11
GRCS Inc. to Report Q2, 2023 Results on Jul 14, 2023 GRCS Inc. announced that they will report Q2, 2023 results on Jul 14, 2023 Breakeven Date Change • Apr 19
Forecast to breakeven in 2023 The analyst covering GRCS expects the company to break even for the first time. New forecast suggests the company will make a profit of JP¥102.0m in 2023. Earnings growth of 80% is required to achieve expected profit on schedule. Announcement • Feb 02
GRCS Inc. to Report Q1, 2023 Results on Apr 14, 2023 GRCS Inc. announced that they will report Q1, 2023 results on Apr 14, 2023 Announcement • Jan 19
GRCS Inc. Provides Consolidated Earnings Forecast for the Year Ending November 30, 2023 GRCS Inc. provided consolidated earnings forecast for the year ending November 30, 2023. For the year, the company expects net sales of JPY 3,277 million, operating loss of JPY 192 million, loss attributable to owners of parent of JPY 116 million and loss per share of JPY 91.04. Announcement • Jan 15
GRCS Inc., Annual General Meeting, Feb 28, 2023 GRCS Inc., Annual General Meeting, Feb 28, 2023. Announcement • Dec 21
GRCS Inc agreed to acquire Financial technology solutions business of EOS Software Limited for ¥650 million. GRCS Inc agreed to acquire Financial technology solutions business of EOS Software Limited for ¥650 million on December 20, 2022. The Consideration is in the form of Cash Payment. The transaction is expected to Close on January 16, 2023. Announcement • Nov 30
GRCS Inc. to Report Fiscal Year 2022 Results on Jan 13, 2023 GRCS Inc. announced that they will report fiscal year 2022 results on Jan 13, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Osamu Yamano was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 20
GRCS Inc. Provides Earnings Forecast for the Year Ending November 30, 2022 GRCS Inc. provided earnings forecast for the year ending November 30, 2022. For the period, the company expects net sales of JPY 2,384 million. Operating loss of JPY 227 million. Loss attributable to owners of parent of JPY 179 million. Loss per share of JPY 136.89. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥3,485, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 23x in the Software industry in Japan. Announcement • Aug 10
GRCS Inc. to Report Q3, 2022 Results on Oct 14, 2022 GRCS Inc. announced that they will report Q3, 2022 results on Oct 14, 2022 Announcement • Aug 06
Grcs Inc. Provides Earnings Forecast for the Year Ending November 30, 2022 GRCS Inc. provided earnings forecast for the year ending November 30, 2022. For the period, the company expects Net sales of JPY 2,092 million. Operating profit of JPY 190 million. Profit of JPY 130 million. Earnings per share of JPY 99.66. Announcement • Jul 15
GRCS Inc. (TSE:9250) announces an Equity Buyback for 40,000 shares, representing 3.05% for ¥100 million. GRCS Inc. (TSE:9250) announces a share repurchase program. Under the program, the company will repurchase up to 40,000 shares, representing 3.05% of its total shares outstanding excluding treasury shares, for a total of ¥100 million. The purpose of repurchase program is to return profits to shareholders, improve capital efficiency and implement agile capital policies in response to changes in the business environment. The repurchase program is valid till September 30, 2022. As of June 30, 2022, the company had 1,309,800 shares outstanding excluding treasury shares. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥3,195, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 24x in the Software industry in Japan. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥2,705, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 22x in the Software industry in Japan. Announcement • May 08
GRCS Inc. to Report Q2, 2022 Results on Jul 14, 2022 GRCS Inc. announced that they will report Q2, 2022 results on Jul 14, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Osamu Yamano was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥4,940, the stock trades at a trailing P/E ratio of 45.2x. Average trailing P/E is 23x in the Software industry in Japan. Announcement • Apr 08
GRCS Inc. to Report Q1, 2022 Results on Apr 14, 2022 GRCS Inc. announced that they will report Q1, 2022 results on Apr 14, 2022 Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥5,700, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 23x in the Software industry in Japan. Board Change • Nov 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.