New Risk • May 08
New major risk - Revenue and earnings growth Earnings have declined by 8.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Cash payout ratio: 105% Earnings have declined by 8.6% per year over the past 5 years. Reported Earnings • May 08
Full year 2026 earnings released: JP¥88.56 loss per share (vs JP¥117 profit in FY 2025) Full year 2026 results: JP¥88.56 loss per share (down from JP¥117 profit in FY 2025). Revenue: JP¥36.6b (down 9.7% from FY 2025). Net loss: JP¥1.84b (down 176% from profit in FY 2025). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • May 08
INES Corporation to Report Fiscal Year 2026 Results on May 07, 2026 INES Corporation announced that they will report fiscal year 2026 results on May 07, 2026 Announcement • May 07
INES Corporation, Annual General Meeting, Jun 23, 2026 INES Corporation, Annual General Meeting, Jun 23, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). New Risk • Feb 03
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 118% Cash payout ratio: 105% Dividend yield: 2.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Cash payout ratio: 105% Minor Risk Profit margins are more than 30% lower than last year (2.6% net profit margin). New Risk • Jan 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 5.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (114% cash payout ratio). Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥6.53 (vs JP¥22.16 in 3Q 2025) Third quarter 2026 results: EPS: JP¥6.53 (down from JP¥22.16 in 3Q 2025). Revenue: JP¥8.73b (down 8.3% from 3Q 2025). Net income: JP¥136.0m (down 71% from 3Q 2025). Profit margin: 1.6% (down from 4.8% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Dec 24
INES Corporation to Report Q3, 2026 Results on Jan 30, 2026 INES Corporation announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Dec 06
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 47% to shift the payout ratio to a potentially unsustainable range, which is more than the 14% EPS decline seen over the last 5 years. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥0.82 (vs JP¥39.04 in 2Q 2025) Second quarter 2026 results: EPS: JP¥0.82 (down from JP¥39.04 in 2Q 2025). Revenue: JP¥8.77b (down 14% from 2Q 2025). Net income: JP¥17.0m (down 98% from 2Q 2025). Profit margin: 0.2% (down from 8.0% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. New Risk • Oct 29
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,672, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 26% over the past three years. Announcement • Oct 28
INES Corporation, Annual General Meeting, Oct 28, 2025 INES Corporation, Annual General Meeting, Oct 28, 2025. Agenda: To consider paying dividends of surplus (interim dividends) with a record date of September 30, 2025; and revise the year-end dividend forecast for the fiscal year ending March 31, 2026. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Announcement • Sep 17
INES Corporation to Report Q2, 2026 Results on Oct 28, 2025 INES Corporation announced that they will report Q2, 2026 results on Oct 28, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: JP¥29.70 loss per share (vs JP¥13.22 loss in 1Q 2025) First quarter 2026 results: JP¥29.70 loss per share (further deteriorated from JP¥13.22 loss in 1Q 2025). Revenue: JP¥7.71b (down 8.6% from 1Q 2025). Net loss: JP¥618.0m (loss widened 125% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Declared Dividend • Jul 21
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
INES Corporation to Report Q1, 2026 Results on Jul 31, 2025 INES Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 01
Full year 2025 earnings released: EPS: JP¥117 (vs JP¥86.29 in FY 2024) Full year 2025 results: EPS: JP¥117 (up from JP¥86.29 in FY 2024). Revenue: JP¥40.6b (flat on FY 2024). Net income: JP¥2.44b (up 36% from FY 2024). Profit margin: 6.0% (up from 4.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 30
INES Corporation, Annual General Meeting, Jun 25, 2025 INES Corporation, Annual General Meeting, Jun 25, 2025. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 36x cash flows per share). Share price has been volatile over the past 3 months (5.9% average weekly change). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,550, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 16x in the IT industry in Japan. Total returns to shareholders of 9.7% over the past three years. Announcement • Mar 26
INES Corporation to Report Fiscal Year 2025 Results on Apr 30, 2025 INES Corporation announced that they will report fiscal year 2025 results on Apr 30, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). New Risk • Feb 01
New major risk - Revenue and earnings growth Earnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Jan 03
INES Corporation to Report Q3, 2025 Results on Jan 31, 2025 INES Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Dec 06
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 44% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥39.04 (vs JP¥4.62 in 2Q 2024) Second quarter 2025 results: EPS: JP¥39.04 (up from JP¥4.62 in 2Q 2024). Revenue: JP¥10.2b (up 5.6% from 2Q 2024). Net income: JP¥812.0m (up JP¥716.0m from 2Q 2024). Profit margin: 8.0% (up from 1.0% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 21
INES Corporation to Report Q2, 2025 Results on Oct 31, 2024 INES Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,459, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 16x in the IT industry in Japan. Total returns to shareholders of 13% over the past three years. New Risk • Aug 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 5.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (2.9% net profit margin). Reported Earnings • Aug 02
First quarter 2025 earnings released: JP¥13.22 loss per share (vs JP¥18.13 profit in 1Q 2024) First quarter 2025 results: JP¥13.22 loss per share (down from JP¥18.13 profit in 1Q 2024). Revenue: JP¥8.44b (down 15% from 1Q 2024). Net loss: JP¥275.0m (down 173% from profit in 1Q 2024). 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 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 19
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 2.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 15
INES Corporation to Report Q1, 2025 Results on Jul 31, 2024 INES Corporation announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥86.29 (vs JP¥122 in FY 2023) Full year 2024 results: EPS: JP¥86.29 (down from JP¥122 in FY 2023). Revenue: JP¥40.6b (down 4.4% from FY 2023). Net income: JP¥1.80b (down 29% from FY 2023). Profit margin: 4.4% (down from 6.0% in FY 2023). The decrease in margin was driven by lower revenue. 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 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 02
INES Corporation to Report Fiscal Year 2024 Results on Apr 30, 2024 INES Corporation announced that they will report fiscal year 2024 results on Apr 30, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥11.34 (vs JP¥16.50 in 3Q 2023) Third quarter 2024 results: EPS: JP¥11.34 (down from JP¥16.50 in 3Q 2023). Revenue: JP¥9.39b (down 6.1% from 3Q 2023). Net income: JP¥236.0m (down 31% from 3Q 2023). Profit margin: 2.5% (down from 3.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Nov 30
INES Corporation to Report Q3, 2024 Results on Jan 30, 2024 INES Corporation announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥4.62 (vs JP¥26.35 in 2Q 2023) Second quarter 2024 results: EPS: JP¥4.62 (down from JP¥26.35 in 2Q 2023). Revenue: JP¥9.66b (down 6.7% from 2Q 2023). Net income: JP¥96.0m (down 83% from 2Q 2023). Profit margin: 1.0% (down from 5.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). Announcement • Aug 31
INES Corporation to Report Q2, 2024 Results on Oct 30, 2023 INES Corporation announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥18.13 (vs JP¥21.31 in 1Q 2023) First quarter 2024 results: EPS: JP¥18.13 (down from JP¥21.31 in 1Q 2023). Revenue: JP¥9.96b (up 3.3% from 1Q 2023). Net income: JP¥377.0m (down 15% from 1Q 2023). Profit margin: 3.8% (down from 4.6% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 2% per year, which means it is significantly lagging earnings growth. Board Change • Jul 25
High number of new directors There are 9 new directors who have joined the board in the last 3 years. Managing Executive Officer & Director Kazuhiro Fukuyama was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 02
INES Corporation to Report Q1, 2024 Results on Jul 28, 2023 INES Corporation announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥122 (vs JP¥57.21 in FY 2022) Full year 2023 results: EPS: JP¥122 (up from JP¥57.21 in FY 2022). Revenue: JP¥42.4b (up 5.9% from FY 2022). Net income: JP¥2.54b (up 96% from FY 2022). Profit margin: 6.0% (up from 3.2% 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 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥16.49 (vs JP¥14.50 in 3Q 2022) Third quarter 2023 results: EPS: JP¥16.49 (up from JP¥14.50 in 3Q 2022). Revenue: JP¥10.0b (up 4.4% from 3Q 2022). Net income: JP¥343.0m (up 5.9% from 3Q 2022). Profit margin: 3.4% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Nov 27
INES Corporation to Report Q3, 2023 Results on Jan 27, 2023 INES Corporation announced that they will report Q3, 2023 results on Jan 27, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥26.35 (vs JP¥24.34 in 2Q 2022) Second quarter 2023 results: EPS: JP¥26.35. Revenue: JP¥10.4b (down 1.3% from 2Q 2022). Net income: JP¥548.0m (down 4.0% from 2Q 2022). Profit margin: 5.3% (down from 5.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. Independent Outside Director Kyota Omori is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥26.35 (vs JP¥24.34 in 2Q 2022) Second quarter 2023 results: EPS: JP¥26.35. Revenue: JP¥10.4b (down 1.3% from 2Q 2022). Net income: JP¥548.0m (down 4.0% from 2Q 2022). Profit margin: 5.3% (down from 5.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Aug 31
INES Corporation to Report Q2, 2023 Results on Oct 31, 2022 INES Corporation announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥21.31 (vs JP¥2.98 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥21.31 (up from JP¥2.98 loss in 1Q 2022). Revenue: JP¥9.64b (up 14% from 1Q 2022). Net income: JP¥443.0m (up JP¥514.0m from 1Q 2022). Profit margin: 4.6% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • May 29
INES Corporation to Report Q1, 2023 Results on Jul 29, 2022 INES Corporation announced that they will report Q1, 2023 results on Jul 29, 2022 Announcement • May 02
INES Corporation, Annual General Meeting, Jun 24, 2022 INES Corporation, Annual General Meeting, Jun 24, 2022. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥57.21 (vs JP¥60.15 in FY 2021) Full year 2022 results: EPS: JP¥57.21 (down from JP¥60.15 in FY 2021). Revenue: JP¥40.0b (down 3.7% from FY 2021). Net income: JP¥1.30b (down 9.2% from FY 2021). Profit margin: 3.2% (down from 3.4% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 4 experienced directors. No highly experienced directors. Independent Outside Director Tadahiko Fukuhara is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
INES Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022 INES Corporation announced that they will report fiscal year 2022 results on Apr 28, 2022 Board Change • Mar 23
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 4 experienced directors. No highly experienced directors. Independent Outside Director Tadahiko Fukuhara is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥14.50 (down from JP¥15.92 in 3Q 2021). Revenue: JP¥9.58b (up 7.2% from 3Q 2021). Net income: JP¥324.0m (down 14% from 3Q 2021). Profit margin: 3.4% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 23
INES Corporation (TSE:9742) announces an Equity Buyback for 1,500,000 shares, representing 6.28% for ¥2,000 million. INES Corporation (TSE:9742) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 6.28% of its total shares outstanding excluding treasury shares, for a total of ¥2,000 million. The purpose of the repurchase program is to implement capital policies to improve capital efficiency and enhance shareholder returns. The share repurchase program is valid until March 31, 2022. As of November 30, 2021, the company has 23,900,000 shares outstanding excluding treasury shares and had 1,716,623 shares in treasury. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥24.34 (vs JP¥6.09 in 2Q 2021) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥10.5b (flat on 2Q 2021). Net income: JP¥571.0m (up 294% from 2Q 2021). Profit margin: 5.4% (up from 1.4% in 2Q 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 03 December 2021. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 02
First quarter 2022 earnings released: JP¥2.98 loss per share (vs JP¥6.93 profit in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2022 results: Revenue: JP¥8.44b (down 8.7% from 1Q 2021). Net loss: JP¥71.0m (down 143% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • May 03
Full year 2021 earnings released: EPS JP¥60.15 (vs JP¥86.71 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥41.6b (down 1.7% from FY 2020). Net income: JP¥1.43b (down 31% from FY 2020). Profit margin: 3.4% (down from 4.9% in FY 2020). 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 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Announcement • Mar 04
INES Corporation to Report Fiscal Year 2021 Results on Apr 30, 2021 INES Corporation announced that they will report fiscal year 2021 results on Apr 30, 2021 Is New 90 Day High Low • Feb 24
New 90-day low: JP¥1,356 The company is down 7.0% from its price of JP¥1,464 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 6.0% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥15.92 (vs JP¥148 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥8.93b (down 9.7% from 3Q 2020). Net income: JP¥379.0m (down 89% from 3Q 2020). Profit margin: 4.2% (down from 36% in 3Q 2020). 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 9% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 28
New 90-day low: JP¥1,361 The company is down 19% from its price of JP¥1,683 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 1.0% over the same period. Announcement • Dec 03
INES Corporation to Report Q3, 2021 Results on Jan 28, 2021 INES Corporation announced that they will report Q3, 2021 results on Jan 28, 2021 Announcement • Oct 02
Mitsubishi Research Institute, Inc. (TSE:3636) cancelled the acquisition of additional 6.6% in INES Corporation (TSE:9742). Mitsubishi Research Institute, Inc. (TSE:3636) signed an agreement to acquire additional 6.6% in INES Corporation (TSE:9742) on September 27, 2019. As per terms, additional 1562 shares have been acquired. Mitsubishi Research Institute, Inc. now holds 17.1% in INES Corporation. The deal is expected to close on October 1, 2019.
Mitsubishi Research Institute, Inc. (TSE:3636) cancelled the acquisition of additional 6.6% in INES Corporation (TSE:9742) on September 27, 2020. Announcement • Sep 03
INES Corporation to Report Q2, 2021 Results on Oct 30, 2020 INES Corporation announced that they will report Q2, 2021 results on Oct 30, 2020 Announcement • Jul 05
INES Corporation to Report Q1, 2021 Results on Jul 31, 2020 INES Corporation announced that they will report Q1, 2021 results on Jul 31, 2020