Board Change • Jun 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Outside Director Satoru Yamanouchi was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 22
Miroku Jyoho Service Co., Ltd. to Report Q1, 2027 Results on Jul 31, 2026 Miroku Jyoho Service Co., Ltd. announced that they will report Q1, 2027 results on Jul 31, 2026 Announcement • May 15
Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 26, 2026 Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 26, 2026. Announcement • May 10
Miroku Jyoho Service Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Miroku Jyoho Service Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥53.06 (vs JP¥50.21 in 3Q 2025) Third quarter 2026 results: EPS: JP¥53.06 (up from JP¥50.21 in 3Q 2025). Revenue: JP¥12.4b (up 3.0% from 3Q 2025). Net income: JP¥1.59b (up 5.7% from 3Q 2025). Profit margin: 13% (in line with 3Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Dec 11
Miroku Jyoho Service Co., Ltd. to Report Q3, 2026 Results on Feb 04, 2026 Miroku Jyoho Service Co., Ltd. announced that they will report Q3, 2026 results on Feb 04, 2026 Buy Or Sell Opportunity • Nov 04
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 1.2% to JP¥1,898. The fair value is estimated to be JP¥1,485, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 8.6%. Revenue is forecast to grow by 6.6% in 2 years. Earnings are forecast to grow by 2.5% in the next 2 years. Declared Dividend • Nov 02
Dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (110% 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 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥58.75 (vs JP¥31.44 in 2Q 2025) Second quarter 2026 results: EPS: JP¥58.75 (up from JP¥31.44 in 2Q 2025). Revenue: JP¥12.6b (up 8.7% from 2Q 2025). Net income: JP¥1.76b (up 87% from 2Q 2025). Profit margin: 14% (up from 8.1% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Announcement • Sep 25
Miroku Jyoho Service Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Miroku Jyoho Service Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥29.90 (vs JP¥37.37 in 1Q 2025) First quarter 2026 results: EPS: JP¥29.90 (down from JP¥37.37 in 1Q 2025). Revenue: JP¥11.6b (up 3.7% from 1Q 2025). Net income: JP¥895.0m (down 20% from 1Q 2025). Profit margin: 7.7% (down from 10.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Announcement • Jun 17
Miroku Jyoho Service Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Miroku Jyoho Service Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 New Risk • May 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 3.3% 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 • May 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥146 (up from JP¥142 in FY 2024). Revenue: JP¥46.2b (up 5.0% from FY 2024). Net income: JP¥4.38b (up 3.4% from FY 2024). Profit margin: 9.5% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 27, 2025 Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 27, 2025. Buy Or Sell Opportunity • Apr 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to JP¥1,784. The fair value is estimated to be JP¥2,274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 9.9% in the next 2 years. Buy Or Sell Opportunity • Mar 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.9% to JP¥1,893. The fair value is estimated to be JP¥2,390, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 9.9% in the next 2 years. Announcement • Mar 26
Miroku Jyoho Service Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Miroku Jyoho Service Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Buy Or Sell Opportunity • Mar 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.2% to JP¥1,900. The fair value is estimated to be JP¥2,382, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 9.9% in the next 2 years. Buy Or Sell Opportunity • Feb 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to JP¥1,848. The fair value is estimated to be JP¥2,321, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 9.9% in the next 2 years. Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥50.21 (vs JP¥47.40 in 3Q 2024) Third quarter 2025 results: EPS: JP¥50.21 (up from JP¥47.40 in 3Q 2024). Revenue: JP¥12.0b (up 3.2% from 3Q 2024). Net income: JP¥1.50b (up 6.0% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Dec 06
Miroku Jyoho Service Co., Ltd. to Report Q3, 2025 Results on Feb 05, 2025 Miroku Jyoho Service Co., Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥31.44 (vs JP¥30.12 in 2Q 2024) Second quarter 2025 results: EPS: JP¥31.44 (up from JP¥30.12 in 2Q 2024). Revenue: JP¥11.6b (up 8.4% from 2Q 2024). Net income: JP¥941.0m (up 4.4% from 2Q 2024). Profit margin: 8.1% (down from 8.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Declared Dividend • Nov 02
Dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 14% 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 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Oct 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.3% to JP¥1,803. The fair value is estimated to be JP¥2,261, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 8.9% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Buy Or Sell Opportunity • Sep 11
Now 21% undervalued Over the last 90 days, the stock has risen 1.5% to JP¥1,817. The fair value is estimated to be JP¥2,289, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 8.9% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Announcement • Aug 27
Miroku Jyoho Service Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Miroku Jyoho Service Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥37.37 (vs JP¥31.10 in 1Q 2024) First quarter 2025 results: EPS: JP¥37.37 (up from JP¥31.10 in 1Q 2024). Revenue: JP¥11.2b (up 6.4% from 1Q 2024). Net income: JP¥1.12b (up 20% from 1Q 2024). Profit margin: 10.0% (up from 8.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 17
Miroku Jyoho Service Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Miroku Jyoho Service Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 16
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥142 (up from JP¥126 in FY 2023). Revenue: JP¥44.0b (up 6.1% from FY 2023). Net income: JP¥4.24b (up 13% from FY 2023). Profit margin: 9.6% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Announcement • May 15
Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 27, 2024 Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 27, 2024. Announcement • Mar 27
Miroku Jyoho Service Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Miroku Jyoho Service Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥47.39 (vs JP¥58.28 in 3Q 2023) Third quarter 2024 results: EPS: JP¥47.39 (down from JP¥58.28 in 3Q 2023). Revenue: JP¥11.6b (up 4.3% from 3Q 2023). Net income: JP¥1.42b (down 19% from 3Q 2023). Profit margin: 12% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 05
Miroku Jyoho Service Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Miroku Jyoho Service Co., Ltd. provided dividend guidance for the fiscal year ending March 31, 2024. For the year, the company expects dividend of JPY 50.00 per share against JPY 45.00 per share paid for the same period a year ago. Announcement • Dec 24
Miroku Jyoho Service Co., Ltd. to Report Q3, 2024 Results on Feb 05, 2024 Miroku Jyoho Service Co., Ltd. announced that they will report Q3, 2024 results on Feb 05, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥30.12 (vs JP¥32.49 in 2Q 2023) Second quarter 2024 results: EPS: JP¥30.12 (down from JP¥32.49 in 2Q 2023). Revenue: JP¥10.7b (up 5.2% from 2Q 2023). Net income: JP¥901.0m (down 7.1% from 2Q 2023). Profit margin: 8.4% (down from 9.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Sep 24
Miroku Jyoho Service Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Miroku Jyoho Service Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 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: 8.8% Last year net profit margin: 13% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥31.10 (vs JP¥32.32 in 1Q 2023) First quarter 2024 results: EPS: JP¥31.10 (down from JP¥32.32 in 1Q 2023). Revenue: JP¥10.5b (up 7.9% from 1Q 2023). Net income: JP¥930.0m (down 3.6% from 1Q 2023). Profit margin: 8.9% (down from 9.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 26
Miroku Jyoho Service Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Miroku Jyoho Service Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥126 (down from JP¥150 in FY 2022). Revenue: JP¥41.5b (up 13% from FY 2022). Net income: JP¥3.77b (down 17% from FY 2022). Profit margin: 9.1% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Japan. 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 15% per year, which means it is significantly lagging earnings. Announcement • May 12
Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 29, 2023 Miroku Jyoho Service Co., Ltd., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥58.27 (vs JP¥29.64 in 3Q 2022) Third quarter 2023 results: EPS: JP¥58.27 (up from JP¥29.64 in 3Q 2022). Revenue: JP¥11.1b (up 17% from 3Q 2022). Net income: JP¥1.74b (up 96% from 3Q 2022). Profit margin: 16% (up from 9.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Dec 21
Miroku Jyoho Service Co., Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Miroku Jyoho Service Co., Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Outside Independent Director Takao Kitabata 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. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥32.49 (vs JP¥80.66 in 2Q 2022) Second quarter 2023 results: EPS: JP¥32.49 (down from JP¥80.66 in 2Q 2022). Revenue: JP¥10.2b (up 13% from 2Q 2022). Net income: JP¥970.0m (down 60% from 2Q 2022). Profit margin: 9.5% (down from 27% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Sep 23
Miroku Jyoho Service Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Miroku Jyoho Service Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥32.32 (vs JP¥18.92 in 1Q 2022) First quarter 2023 results: EPS: JP¥32.32 (up from JP¥18.92 in 1Q 2022). Revenue: JP¥9.72b (up 11% from 1Q 2022). Net income: JP¥965.0m (up 68% from 1Q 2022). Profit margin: 9.9% (up from 6.6% in 1Q 2022). Over the next year, revenue is forecast to grow 6.1%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Jun 16
Miroku Jyoho Service Co., Ltd. to Report Q1, 2023 Results on Jul 29, 2022 Miroku Jyoho Service Co., Ltd. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 16
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥150 (up from JP¥86.52 in FY 2021). Revenue: JP¥36.6b (up 7.4% from FY 2021). Net income: JP¥4.52b (up 70% from FY 2021). Profit margin: 12% (up from 7.8% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 6.6%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Buying Opportunity • May 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be JP¥1,490, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has grown by 3.7%. Revenue is forecast to grow by 16% in 2 years. Earnings is forecast to decline by 18% in the next 2 years. Price Target Changed • Apr 27
Price target increased to JP¥1,900 Up from JP¥1,600, the current price target is an average from 2 analysts. New target price is 44% above last closing price of JP¥1,316. Stock is down 29% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥86.52 last year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (9 non-independent directors). External Director Satoru Katayama was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.2%. The fair value is estimated to be JP¥1,636, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has declined by 5.0%. Revenue is forecast to grow by 9.2% in 2 years. Earnings is forecast to decline by 21% in the next 2 years. Announcement • Apr 08
Miroku Jyoho Service Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Miroku Jyoho Service Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 07
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥29.64 (up from JP¥20.50 in 3Q 2021). Revenue: JP¥9.49b (up 12% from 3Q 2021). Net income: JP¥888.0m (up 42% from 3Q 2021). Profit margin: 9.4% (up from 7.4% in 3Q 2021). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 3.6%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Feb 05
Miroku Jyoho Service Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2022 Miroku Jyoho Service Co., Ltd. provided consolidated earnings guidance for the year ending March 31, 2022. For the year, the company expects net sales to be JPY 36,500 million. Operating profit to be JPY 4,600 million. Profit attributable to owners of parent to be JPY 4,330 million. Basic earnings per share to be JPY 143.55. Announcement • Feb 04
Miroku Jyoho Service Co., Ltd. Provides Dividend Guidance for the Year Ending March 31, 2022 Miroku Jyoho Service Co., Ltd. provided dividend guidance of JPY 45 per share for the year ending March 31, 2022 against JPY 38 per share paid a year ago. Major Estimate Revision • Nov 26
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from JP¥37.2b to JP¥36.7b. EPS estimate rose from JP¥129 to JP¥146. Net income forecast to shrink 16% next year vs 12% growth forecast for Software industry in Japan . Consensus price target of JP¥1,900 unchanged from last update. Share price fell 7.5% to JP¥1,563 over the past week. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥80.66 (vs JP¥25.09 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥9.03b (up 5.2% from 2Q 2021). Net income: JP¥2.45b (up 216% from 2Q 2021). Profit margin: 27% (up from 9.0% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,742, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 30x in the Software industry in Japan. Total loss to shareholders of 26% over the past three years. Announcement • Aug 28
Miroku Jyoho Service Co., Ltd. (TSE:9928) announces an Equity Buyback for 700,000 shares, representing 2.3% for ¥1,000 million. Miroku Jyoho Service Co., Ltd. (TSE:9928) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 2.3% of its issued share capital for ¥1,000 million. The purpose of the program is to implement agile capital policies in response to changes in the business environment and improve capital efficiency. The program is valid till January 31, 2022. As of August 26, 2021, the company had 30,439,725 shares issued (excluding treasury stock) and 4,366,561 shares in treasury. Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥18.92 (vs JP¥18.91 in 1Q 2021) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: JP¥8.75b (up 10% from 1Q 2021). Net income: JP¥576.0m (down 1.4% from 1Q 2021). Profit margin: 6.6% (down from 7.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥82.10 to JP¥103. Revenue forecast unchanged at JP¥37.2b. Net income forecast to grow 19% next year vs 9.2% growth forecast for Software industry in Japan. Consensus price target down from JP¥1,800 to JP¥1,600. Share price fell 5.0% to JP¥1,554 over the past week. Major Estimate Revision • May 20
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥105 to JP¥85.41 per share. Revenue forecast steady at JP¥36.8b. Net income forecast to shrink 2.0% next year vs 8.2% growth forecast for Software industry in Japan . Consensus price target of JP¥1,800 unchanged from last update. Share price fell 4.5% to JP¥1,639 over the past week. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥86.52 (vs JP¥59.57 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¥34.1b (down 4.0% from FY 2020). Net income: JP¥2.65b (up 44% from FY 2020). Profit margin: 7.8% (up from 5.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Price Target Changed • May 16
Price target decreased to JP¥1,800 Down from JP¥2,250, the current price target is an average from 2 analysts. New target price is 9.4% above last closing price of JP¥1,645. Stock is down 27% over the past year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.8%. 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 15
New 90-day high: JP¥2,294 The company is up 9.0% from its price of JP¥2,109 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,561 per share. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue and earnings miss expectations Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 9.8%, compared to a 12% growth forecast for the Software industry in Japan. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS JP¥20.50 (vs JP¥28.60 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥8.44b (flat on 3Q 2020). Net income: JP¥625.0m (down 29% from 3Q 2020). Profit margin: 7.4% (down from 10% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Dec 30
Miroku Jyoho Service Co., Ltd. to Report Q3, 2021 Results on Feb 04, 2021 Miroku Jyoho Service Co., Ltd. announced that they will report Q3, 2021 results on Feb 04, 2021 Announcement • Dec 23
Miroku Jyoho Service Co., Ltd. (TSE:9928) agreed to acquire 50.4% stake in Tribeck Strategies Inc. Miroku Jyoho Service Co., Ltd. (TSE:9928) agreed to acquire 50.4% stake in Tribeck Strategies Inc on December 21, 2020. The transaction is expected to close on December 25, 2020. Post acquisition Tribeck Strategies Inc will operate as a subsidiary of Miroku Jyoho Service Co., Ltd. Is New 90 Day High Low • Dec 02
New 90-day low: JP¥2,019 The company is down 7.0% from its price of JP¥2,178 on 03 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,603 per share. Price Target Changed • Dec 01
Price target lowered to JP¥2,250 Down from JP¥2,900, the current price target is an average from 2 analysts. The new target price is 9.9% above the current share price of JP¥2,048. As of last close, the stock is down 40% over the past year.