Announcement • May 29
Suzuyo Shinwart Corporation to Report Q1, 2027 Results on Aug 07, 2026 Suzuyo Shinwart Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 18
Full year 2026 earnings released: EPS: JP¥379 (vs JP¥392 in FY 2025) Full year 2026 results: EPS: JP¥379 (down from JP¥392 in FY 2025). Revenue: JP¥20.7b (up 8.1% from FY 2025). Net income: JP¥1.08b (down 2.4% from FY 2025). Profit margin: 5.2% (down from 5.8% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Suzuyo Shinwart Corporation, Annual General Meeting, Jun 26, 2026 Suzuyo Shinwart Corporation, Annual General Meeting, Jun 26, 2026. Announcement • May 10
Suzuyo Shinwart Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Suzuyo Shinwart Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥59.40 (vs JP¥105 in 3Q 2025) Third quarter 2026 results: EPS: JP¥59.40 (down from JP¥105 in 3Q 2025). Revenue: JP¥4.82b (up 7.4% from 3Q 2025). Net income: JP¥169.0m (down 42% from 3Q 2025). Profit margin: 3.5% (down from 6.5% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jan 08
Dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 30th March 2026 Payment date: 30th June 2026 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 (23% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 24% 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. Earnings per share has grown by 59% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 07
Suzuyo Shinwart Corporation announces Annual dividend, payable on June 30, 2026 Suzuyo Shinwart Corporation announced Annual dividend of JPY 110.0000 per share payable on June 30, 2026, ex-date on March 30, 2026 and record date on March 31, 2026. Announcement • Nov 29
Suzuyo Shinwart Corporation to Report Q3, 2026 Results on Feb 09, 2026 Suzuyo Shinwart Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥71.71 (vs JP¥65.80 in 2Q 2025) Second quarter 2026 results: EPS: JP¥71.71 (up from JP¥65.80 in 2Q 2025). Revenue: JP¥4.89b (up 6.2% from 2Q 2025). Net income: JP¥204.0m (up 9.1% from 2Q 2025). Profit margin: 4.2% (up from 4.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Suzuyo Shinwart Corporation to Report Q2, 2026 Results on Nov 10, 2025 Suzuyo Shinwart Corporation announced that they will report Q2, 2026 results on Nov 10, 2025 Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥28.82 (vs JP¥40.47 in 1Q 2025) First quarter 2026 results: EPS: JP¥28.82 (down from JP¥40.47 in 1Q 2025). Revenue: JP¥4.49b (up 6.9% from 1Q 2025). Net income: JP¥82.0m (down 29% from 1Q 2025). Profit margin: 1.8% (down from 2.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • May 31
Suzuyo Shinwart Corporation to Report Q1, 2026 Results on Aug 08, 2025 Suzuyo Shinwart Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥392 (vs JP¥265 in FY 2024) Full year 2025 results: EPS: JP¥392 (up from JP¥265 in FY 2024). Revenue: JP¥19.1b (up 11% from FY 2024). Net income: JP¥1.11b (up 44% from FY 2024). Profit margin: 5.8% (up from 4.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Suzuyo Shinwart Corporation, Annual General Meeting, Jun 27, 2025 Suzuyo Shinwart Corporation, Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,115, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 15x in the IT industry in Japan. Total returns to shareholders of 92% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥90.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 28 June 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Mar 01
Suzuyo Shinwart Corporation to Report Fiscal Year 2025 Results on May 14, 2025 Suzuyo Shinwart Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥105 (vs JP¥37.82 in 3Q 2024) Third quarter 2025 results: EPS: JP¥105 (up from JP¥37.82 in 3Q 2024). Revenue: JP¥4.49b (up 11% from 3Q 2024). Net income: JP¥291.0m (up 167% from 3Q 2024). Profit margin: 6.5% (up from 2.7% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Nov 30
Suzuyo Shinwart Corporation to Report Q3, 2025 Results on Feb 07, 2025 Suzuyo Shinwart Corporation announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 11
Second quarter 2025 earnings released: EPS: JP¥65.80 (vs JP¥67.98 in 2Q 2024) Second quarter 2025 results: EPS: JP¥65.80 (down from JP¥67.98 in 2Q 2024). Revenue: JP¥4.61b (up 10% from 2Q 2024). Net income: JP¥187.0m (down 6.5% from 2Q 2024). Profit margin: 4.1% (down from 4.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
Suzuyo Shinwart Corporation (TSE:9360) agreed to acquire remaining 68.61% stake in Inter Quest Co., Ltd. for approximately ¥580 million. Suzuyo Shinwart Corporation (TSE:9360) agreed to acquire remaining 68.61% stake in Inter Quest Co., Ltd. for approximately ¥580 million on November 8, 2024. The consideration consists of 0.27 million common equity of Suzuyo Shinwart Corporation at a ratio of 0.605 per common equity of Inter Quest Co., Ltd. Upon completion, Suzuyo Shinwart Corporation will own 100% stake in Inter Quest Co., Ltd.
For the period ending March 31, 2024, Inter Quest Co., Ltd. reported total revenue of ¥100.31 billion, EBIT of ¥7.27 million and net income of ¥0.54 million, total assets of ¥109.91 billion and total common equity of ¥788.82 million.
The transaction is subject to approval of offer by target shareholders. The expected completion of the transaction is December 2, 2024. Announcement • Nov 08
Suzuyo Shinwart Corporation (TSE:9360) announces an Equity Buyback for 275,000 shares, representing 9.68% for ¥589.6 million. Suzuyo Shinwart Corporation (TSE:9360) announces a share repurchase program. Under the program, the company will repurchase up to 275,000 shares, representing 9.68% of its issued share capital (excluding treasury stock), for a total purchase price of ¥589.6 million. The shares will be repurchased at a price of ¥2,144 per share. The purpose of the program is to carry out flexible capital policy in response to future changes in the business environment. As of September 30, 2024, the company had 2,841,922 issued shares (excluding treasury stock) and 158,078 treasury shares. Announcement • Aug 28
Suzuyo Shinwart Corporation to Report Q2, 2025 Results on Nov 08, 2024 Suzuyo Shinwart Corporation announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥40.47 (vs JP¥7.48 in 1Q 2024) First quarter 2025 results: EPS: JP¥40.47 (up from JP¥7.48 in 1Q 2024). Revenue: JP¥4.20b (up 12% from 1Q 2024). Net income: JP¥115.0m (up 423% from 1Q 2024). Profit margin: 2.7% (up from 0.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
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 8.0% 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 (8.0% average weekly change). Minor Risk Market cap is less than US$100m (JP¥4.52b market cap, or US$31.7m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to JP¥1,590, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 19% over the past three years. Announcement • Jun 28
Suzuyo Shinwart Corporation to Report Q1, 2025 Results on Aug 09, 2024 Suzuyo Shinwart Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥265 (vs JP¥130 in FY 2023) Full year 2024 results: EPS: JP¥265 (up from JP¥130 in FY 2023). Revenue: JP¥17.2b (up 11% from FY 2023). Net income: JP¥770.0m (up 102% from FY 2023). Profit margin: 4.5% (up from 2.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Suzuyo Shinwart Corporation, Annual General Meeting, Jun 27, 2024 Suzuyo Shinwart Corporation, Annual General Meeting, Jun 27, 2024. New Risk • Apr 02
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 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risk Market cap is less than US$100m (JP¥8.37b market cap, or US$55.2m). Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥2,946, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 42% over the past three years. 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: 01 July 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥2,388, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 18% over the past three years. Announcement • Mar 02
Suzuyo Shinwart Corporation to Report Fiscal Year 2024 Results on May 14, 2024 Suzuyo Shinwart Corporation announced that they will report fiscal year 2024 results on May 14, 2024 Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,960, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 18x in the IT industry in Japan. Negligible returns to shareholders over past three years. New Risk • Feb 13
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 5.8% 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 Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (JP¥5.85b market cap, or US$39.2m). Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥37.82 (vs JP¥20.06 in 3Q 2023) Third quarter 2024 results: EPS: JP¥37.82 (up from JP¥20.06 in 3Q 2023). Revenue: JP¥4.05b (up 10% from 3Q 2023). Net income: JP¥109.0m (up 85% from 3Q 2023). Profit margin: 2.7% (up from 1.6% 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 42% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,369, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 19x in the IT industry in Japan. Total returns to shareholders of 19% over the past three years. Announcement • Nov 29
Suzuyo Shinwart Corporation to Report Q3, 2024 Final Results on Feb 09, 2024 Suzuyo Shinwart Corporation announced that they will report Q3, 2024 final results on Feb 09, 2024 Reported Earnings • Nov 13
Second quarter 2024 earnings released: EPS: JP¥67.98 (vs JP¥5.78 in 2Q 2023) Second quarter 2024 results: EPS: JP¥67.98 (up from JP¥5.78 in 2Q 2023). Revenue: JP¥4.18b (up 16% from 2Q 2023). Net income: JP¥200.0m (up JP¥183.0m from 2Q 2023). Profit margin: 4.8% (up from 0.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 27
Suzuyo Shinwart Corporation to Report Q2, 2024 Results on Nov 10, 2023 Suzuyo Shinwart Corporation announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥7.48 (vs JP¥20.74 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥7.48 (up from JP¥20.74 loss in 1Q 2023). Revenue: JP¥3.74b (up 6.9% from 1Q 2023). Net income: JP¥22.0m (up JP¥83.0m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 24% per year. Announcement • May 28
Suzuyo Shinwart Corporation to Report Q1, 2024 Results on Aug 10, 2023 Suzuyo Shinwart Corporation announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥130 (vs JP¥93.48 in FY 2022) Full year 2023 results: EPS: JP¥130 (up from JP¥93.48 in FY 2022). Revenue: JP¥15.5b (up 7.2% from FY 2022). Net income: JP¥381.0m (up 39% from FY 2022). Profit margin: 2.5% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: JP¥20.06 (vs JP¥43.17 in 3Q 2022) Third quarter 2023 results: EPS: JP¥20.06 (down from JP¥43.17 in 3Q 2022). Revenue: JP¥3.67b (down 1.0% from 3Q 2022). Net income: JP¥59.0m (down 54% from 3Q 2022). Profit margin: 1.6% (down from 3.4% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 27
Suzuyo Shinwart Corporation to Report Q3, 2023 Results on Feb 14, 2023 Suzuyo Shinwart Corporation announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥5.78 (vs JP¥2.72 in 2Q 2022) Second quarter 2023 results: EPS: JP¥5.78 (up from JP¥2.72 in 2Q 2022). Revenue: JP¥3.59b (up 6.7% from 2Q 2022). Net income: JP¥17.0m (up 113% from 2Q 2022). Profit margin: 0.5% (up from 0.2% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. 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. 9 non-independent directors. Independent Outside Director Yasuhisa Horikawa 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 • Sep 28
Suzuyo Shinwart Corporation to Report Q2, 2023 Results on Nov 14, 2022 Suzuyo Shinwart Corporation announced that they will report Q2, 2023 results on Nov 14, 2022 Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥1,740, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 168% over the past three years. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,611, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 143% over the past three years. Reported Earnings • Aug 12
First quarter 2023 earnings released: JP¥20.74 loss per share (vs JP¥19.38 loss in 1Q 2022) First quarter 2023 results: JP¥20.74 loss per share (down from JP¥19.38 loss in 1Q 2022). Revenue: JP¥3.50b (up 4.0% from 1Q 2022). Net loss: JP¥61.0m (loss widened 7.0% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥1,515, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 123% over the past three years. Announcement • May 29
Suzuyo Shinwart Corporation to Report Q1, 2023 Results on Aug 10, 2022 Suzuyo Shinwart Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥93.48 (vs JP¥72.40 in FY 2021) Full year 2022 results: EPS: JP¥93.48 (up from JP¥72.40 in FY 2021). Revenue: JP¥14.5b (flat on FY 2021). Net income: JP¥275.0m (up 29% from FY 2021). Profit margin: 1.9% (up from 1.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Suzuyo Shinwart Corporation, Annual General Meeting, Jun 29, 2022 Suzuyo Shinwart Corporation, Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
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. 11 non-independent directors. Independent Outside Director Yasuhisa Horikawa 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
Suzuyo Shinwart Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Suzuyo Shinwart Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥43.17 (up from JP¥30.93 in 3Q 2021). Revenue: JP¥3.71b (up 2.8% from 3Q 2021). Net income: JP¥127.0m (up 40% from 3Q 2021). Profit margin: 3.4% (up from 2.5% 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 46% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,546, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 20x in the IT industry in Japan. Total returns to shareholders of 159% over the past three years. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS JP¥2.72 (vs JP¥11.90 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥3.37b (up 1.2% from 2Q 2021). Net income: JP¥8.00m (down 77% from 2Q 2021). Profit margin: 0.2% (down from 1.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 42% share price gain to JP¥2,251, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 23x in the IT industry in Japan. Total returns to shareholders of 210% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improved over the past week After last week's 30% share price gain to JP¥1,980, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 21x in the IT industry in Japan. Total returns to shareholders of 164% over the past three years. Reported Earnings • Aug 13
First quarter 2022 earnings released: JP¥19.38 loss per share (vs JP¥23.11 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: JP¥3.36b (up 5.3% from 1Q 2021). Net loss: JP¥57.0m (loss narrowed 16% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥72.40 (vs JP¥54.38 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥14.3b (down 2.1% from FY 2020). Net income: JP¥213.0m (up 33% from FY 2020). Profit margin: 1.5% (up from 1.1% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥2,100, the stock is trading at a trailing P/E ratio of 26.2x, down from the previous P/E ratio of 31x. This compares to an average P/E of 28x in the IT industry in Japan. Total returns to shareholders over the past three years are 164%. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥30.93 (vs JP¥11.22 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥3.61b (up 1.3% from 3Q 2020). Net income: JP¥91.0m (up JP¥124.0m from 3Q 2020). Profit margin: 2.5% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 20
New 90-day low: JP¥2,077 The company is down 31% from its price of JP¥3,005 on 22 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 4.0% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥2,223, the stock is trading at a trailing P/E ratio of 58.4x, down from the previous P/E ratio of 70.6x. This compares to an average P/E of 29x in the IT industry in Japan. Total returns to shareholders over the past three years are 181%. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 16% share price gain to JP¥2,689, the stock is trading at a trailing P/E ratio of 70.6x, up from the previous P/E ratio of 60.8x. This compares to an average P/E of 30x in the IT industry in Japan. Total returns to shareholders over the past three years are 235%.