Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥329, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 13x in the Telecom industry in Japan. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 29 September 2026. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥371, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 13x in the Telecom industry in Japan. Total loss to shareholders of 3.3% over the past three years. Announcement • Jun 03
Smartvalue Co., Ltd. to Report Fiscal Year 2026 Results on Aug 14, 2026 Smartvalue Co., Ltd. announced that they will report fiscal year 2026 results on Aug 14, 2026 Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥340, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 13x in the Telecom industry in Japan. Total loss to shareholders of 8.9% over the past three years. New Risk • May 21
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 11% 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 (11% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥3.59b market cap, or US$22.5m). Reported Earnings • May 20
Third quarter 2026 earnings released: JP¥23.08 loss per share (vs JP¥13.09 loss in 3Q 2025) Third quarter 2026 results: JP¥23.08 loss per share (further deteriorated from JP¥13.09 loss in 3Q 2025). Revenue: JP¥1.39b (up 26% from 3Q 2025). Net loss: JP¥231.0m (loss widened 70% from 3Q 2025). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. 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 6.8% 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: Major Risk High level of non-cash earnings (90% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (JP¥3.67b market cap, or US$23.0m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥385, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 13x in the Telecom industry in Japan. Total loss to shareholders of 1.1% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥334, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 14x in the Telecom industry in Japan. Total loss to shareholders of 25% over the past three years. New Risk • Feb 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 90% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (90% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥3.55b market cap, or US$23.1m). Reported Earnings • Feb 16
Second quarter 2026 earnings released: JP¥38.12 loss per share (vs JP¥8.18 loss in 2Q 2025) Second quarter 2026 results: JP¥38.12 loss per share (further deteriorated from JP¥8.18 loss in 2Q 2025). Revenue: JP¥1.59b (up 59% from 2Q 2025). Net loss: JP¥385.0m (loss widened 353% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 29
Smartvalue Co., Ltd. to Report Q2, 2026 Results on Feb 13, 2026 Smartvalue Co., Ltd. announced that they will report Q2, 2026 results on Feb 13, 2026 Announcement • Sep 27
Smartvalue Co., Ltd. to Report Q1, 2026 Results on Nov 14, 2025 Smartvalue Co., Ltd. announced that they will report Q1, 2026 results on Nov 14, 2025 Announcement • Sep 06
Smartvalue Co., Ltd. (TSE:9417) announces an Equity Buyback for 470,000 shares, representing 4.52% for ¥200 million. Smartvalue Co., Ltd. (TSE:9417) announces a share repurchase program. Under the program, the company will repurchase up to 470,000 shares, representing 4.52% of its issued share capital (excluding treasury stock), for a total purchase price of ¥200 million. The purpose of the program is to improve capital efficiency and enhance shareholder returns. The program will continue through November 30, 2025. As of June 30, 2025, the company had 10,392,310 issued shares (excluding treasury stock) and 287,490 treasury shares. Reported Earnings • Aug 16
Full year 2025 earnings released: EPS: JP¥88.14 (vs JP¥33.49 loss in FY 2024) Full year 2025 results: EPS: JP¥88.14 (up from JP¥33.49 loss in FY 2024). Revenue: JP¥4.36b (up 14% from FY 2024). Net income: JP¥916.0m (up JP¥1.26b from FY 2024). Profit margin: 21% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2025 Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2025. Announcement • Jul 02
WingArc1st Inc. (TSE:4432) acquired Digital Government Business from Smartvalue Co., Ltd. (TSE:9417). WingArc1st Inc. (TSE:4432) agreed to acquire Digital Government Business from Smartvalue Co., Ltd. (TSE:9417) for ¥2.3 billion on April 10, 2025. A cash consideration of ¥2.3 billion will be paid by WingArc1st Inc. As part of consideration, ¥2.3 billion is paid towards assets of Digital Government Business of Smartvalue Co., Ltd. Smartvalue will issue target'a 500 common shares at the time of the Company Split.
For the period ending June 30, 2024, Digital Government Business of Smartvalue Co., Ltd reported total revenue of ¥3.81 billion, operating loss of ¥308 million and net loss of ¥348 million. As of June 30, 2024, Digital Government Business of Smartvalue Co., Ltd reported total assets of ¥4.04 billion and total common equity of ¥2.16 billion.
The expected completion of the transaction is June 30, 2025.
WingArc1st Inc. (TSE:4432) completed the acquisition of Digital Government Business from Smartvalue Co., Ltd. (TSE:9417) on June 30, 2025. Announcement • Jun 27
Smartvalue Co., Ltd. to Report Fiscal Year 2025 Results on Aug 14, 2025 Smartvalue Co., Ltd. announced that they will report fiscal year 2025 results on Aug 14, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 29 September 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (3.3%). New Risk • Jun 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% 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. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (JP¥4.33b market cap, or US$30.1m). Reported Earnings • May 21
Third quarter 2025 earnings released: JP¥13.09 loss per share (vs JP¥1.25 loss in 3Q 2024) Third quarter 2025 results: JP¥13.09 loss per share (further deteriorated from JP¥1.25 loss in 3Q 2024). Revenue: JP¥1.10b (down 1.9% from 3Q 2024). Net loss: JP¥136.0m (loss widened JP¥123.0m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. 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 7.1% 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 (7.1% average weekly change). Market cap is less than US$100m (JP¥3.18b market cap, or US$21.7m). Announcement • Apr 03
Smartvalue Co., Ltd. to Report Q3, 2025 Results on May 15, 2025 Smartvalue Co., Ltd. announced that they will report Q3, 2025 results on May 15, 2025 Reported Earnings • Feb 16
Second quarter 2025 earnings released: JP¥8.18 loss per share (vs JP¥10.87 loss in 2Q 2024) Second quarter 2025 results: JP¥8.18 loss per share (improved from JP¥10.87 loss in 2Q 2024). Revenue: JP¥1.00b (up 7.1% from 2Q 2024). Net loss: JP¥85.0m (loss narrowed 25% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Dec 05
Smartvalue Co., Ltd. to Report Q2, 2025 Results on Feb 14, 2025 Smartvalue Co., Ltd. announced that they will report Q2, 2025 results on Feb 14, 2025 Reported Earnings • Oct 03
Full year 2024 earnings released: JP¥33.49 loss per share (vs JP¥4.75 loss in FY 2023) Full year 2024 results: JP¥33.49 loss per share (further deteriorated from JP¥4.75 loss in FY 2023). Revenue: JP¥3.81b (down 1.5% from FY 2023). Net loss: JP¥348.0m (loss widened JP¥300.0m from FY 2023). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Aug 28
Smartvalue Co., Ltd. to Report Q1, 2025 Results on Nov 14, 2024 Smartvalue Co., Ltd. announced that they will report Q1, 2025 results on Nov 14, 2024 Reported Earnings • Aug 19
Full year 2024 earnings released: JP¥33.49 loss per share (vs JP¥4.75 loss in FY 2023) Full year 2024 results: JP¥33.49 loss per share (further deteriorated from JP¥4.75 loss in FY 2023). Revenue: JP¥3.81b (down 1.5% from FY 2023). Net loss: JP¥348.0m (loss widened JP¥300.0m from FY 2023). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2024 Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2024. Announcement • Jun 30
Smartvalue Co., Ltd. to Report Fiscal Year 2024 Results on Aug 14, 2024 Smartvalue Co., Ltd. announced that they will report fiscal year 2024 results on Aug 14, 2024 Upcoming Dividend • Jun 20
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 27 September 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.4%). Reported Earnings • May 21
Third quarter 2024 earnings released: JP¥1.25 loss per share (vs JP¥15.44 profit in 3Q 2023) Third quarter 2024 results: JP¥1.25 loss per share (down from JP¥15.44 profit in 3Q 2023). Revenue: JP¥1.13b (down 8.2% from 3Q 2023). Net loss: JP¥13.0m (down 108% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Apr 25
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 6.7% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 7.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (JP¥4.91b market cap, or US$31.5m). Announcement • Feb 25
Smartvalue Co., Ltd. to Report Q3, 2024 Results on May 15, 2024 Smartvalue Co., Ltd. announced that they will report Q3, 2024 results on May 15, 2024 Reported Earnings • Feb 17
Second quarter 2024 earnings released: JP¥10.87 loss per share (vs JP¥2.01 loss in 2Q 2023) Second quarter 2024 results: JP¥10.87 loss per share (further deteriorated from JP¥2.01 loss in 2Q 2023). Revenue: JP¥935.0m (down 2.7% from 2Q 2023). Net loss: JP¥113.0m (loss widened 465% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Dec 13
Smartvalue Co., Ltd. to Report Q2, 2024 Results on Feb 14, 2024 Smartvalue Co., Ltd. announced that they will report Q2, 2024 results on Feb 14, 2024 New Risk • Nov 29
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 7.6% 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 Risks Share price has been highly volatile over the past 3 months (7.6% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 10% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (JP¥4.85b market cap, or US$32.9m). Reported Earnings • Nov 19
First quarter 2024 earnings released: JP¥16.07 loss per share (vs JP¥9.49 loss in 1Q 2023) First quarter 2024 results: JP¥16.07 loss per share (further deteriorated from JP¥9.49 loss in 1Q 2023). Revenue: JP¥779.0m (down 1.3% from 1Q 2023). Net loss: JP¥167.0m (loss widened 76% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • Sep 29
Smartvalue Co., Ltd. to Report Q1, 2024 Results on Nov 14, 2023 Smartvalue Co., Ltd. announced that they will report Q1, 2024 results on Nov 14, 2023 New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 16% 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: 349% Paying a dividend despite having no free cash flows. Earnings have declined by 16% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (JP¥3.94b market cap, or US$27.0m). Announcement • Aug 16
Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2023 Smartvalue Co., Ltd., Annual General Meeting, Sep 26, 2023. Reported Earnings • Aug 16
Full year 2023 earnings released: JP¥4.75 loss per share (vs JP¥0.10 profit in FY 2022) Full year 2023 results: JP¥4.75 loss per share (down from JP¥0.10 profit in FY 2022). Revenue: JP¥3.87b (up 1.8% from FY 2022). Net loss: JP¥48.0m (down JP¥49.0m from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Smartvalue Co., Ltd. to Report Fiscal Year 2023 Results on Aug 14, 2023 Smartvalue Co., Ltd. announced that they will report fiscal year 2023 results on Aug 14, 2023 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥8.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 02 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (2.9%). Reported Earnings • May 18
Third quarter 2023 earnings released: EPS: JP¥15.44 (vs JP¥22.21 in 3Q 2022) Third quarter 2023 results: EPS: JP¥15.44 (down from JP¥22.21 in 3Q 2022). Revenue: JP¥1.23b (flat on 3Q 2022). Net income: JP¥156.0m (down 30% from 3Q 2022). Profit margin: 13% (down from 18% in 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥479, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 15x in the Telecom industry in Japan. Total loss to shareholders of 44% over the past three years. Reported Earnings • Feb 18
Second quarter 2023 earnings released: JP¥2.01 loss per share (vs JP¥6.87 loss in 2Q 2022) Second quarter 2023 results: JP¥2.01 loss per share (improved from JP¥6.87 loss in 2Q 2022). Revenue: JP¥961.0m (up 8.1% from 2Q 2022). Net loss: JP¥20.0m (loss narrowed 71% from 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.6%. The fair value is estimated to be JP¥534, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in a year. Earnings is forecast to grow by 103% in the next year. Buying Opportunity • Dec 16
Now 20% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be JP¥593, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in a year. Earnings is forecast to grow by 103% in the next year. Announcement • Nov 29
Smartvalue Co., Ltd. to Report Q2, 2023 Results on Feb 14, 2023 Smartvalue Co., Ltd. announced that they will report Q2, 2023 results on Feb 14, 2023 Reported Earnings • Nov 17
First quarter 2023 earnings released: JP¥9.49 loss per share (vs JP¥13.45 loss in 1Q 2022) First quarter 2023 results: JP¥9.49 loss per share (improved from JP¥13.45 loss in 1Q 2022). Revenue: JP¥789.0m (flat on 1Q 2022). Net loss: JP¥95.0m (loss narrowed 30% from 1Q 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Telecom industry in Japan. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 1 independent director (5 non-independent directors). Independent Outside Director Masanori Hara was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 06
Full year 2022 earnings released: EPS: JP¥0.10 (vs JP¥140 loss in FY 2021) Full year 2022 results: EPS: JP¥0.10 (up from JP¥140 loss in FY 2021). Revenue: JP¥3.81b (up 10% from FY 2021). Net income: JP¥1.00m (up JP¥1.41b from FY 2021). Profit margin: 0% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • Oct 01
Smartvalue Co., Ltd. to Report Q1, 2023 Results on Nov 14, 2022 Smartvalue Co., Ltd. announced that they will report Q1, 2023 results on Nov 14, 2022 Announcement • Aug 18
Smartvalue Co., Ltd. (TSE:9417) announces an Equity Buyback for 100,000 shares, representing 1% for ¥70 million. Smartvalue Co., Ltd. (TSE:9417) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 1% of its issued share capital (excluding treasury stock), for a total purchase price of ¥70 million. The purpose of the program is to improve capital efficiency and enhance shareholder returns. The program will continue through October 31, 2022. As of June 30, 2022, the company had 10,039,310 issued shares (excluding treasury stock) and 225,490 treasury shares. Announcement • Aug 14
Smartvalue Co., Ltd., Annual General Meeting, Sep 29, 2022 Smartvalue Co., Ltd., Annual General Meeting, Sep 29, 2022. Agenda: General meeting of shareholders. Reported Earnings • Aug 14
Full year 2022 earnings released: EPS: JP¥0.10 (vs JP¥140 loss in FY 2021) Full year 2022 results: EPS: JP¥0.10 (up from JP¥140 loss in FY 2021). Revenue: JP¥3.81b (up 10% from FY 2021). Net income: JP¥1.00m (up JP¥1.41b from FY 2021). Profit margin: 0% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Jul 01
Smartvalue Co., Ltd. to Report Fiscal Year 2022 Results on Aug 12, 2022 Smartvalue Co., Ltd. announced that they will report fiscal year 2022 results on Aug 12, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 28 September 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.1%). Reported Earnings • May 19
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: JP¥22.21 (up from JP¥10.38 in 3Q 2021). Revenue: JP¥1.22b (up 13% from 3Q 2021). Net income: JP¥223.0m (up 114% from 3Q 2021). Profit margin: 18% (up from 9.6% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. 1 independent director (5 non-independent directors). Independent Outside Director Masanori Hara was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Smartvalue Co., Ltd. to Report Q3, 2022 Results on May 13, 2022 Smartvalue Co., Ltd. announced that they will report Q3, 2022 results on May 13, 2022 Reported Earnings • Feb 17
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: JP¥6.87 loss per share (up from JP¥13.88 loss in 2Q 2021). Revenue: JP¥889.0m (up 23% from 2Q 2021). Net loss: JP¥69.0m (loss narrowed 50% from 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 326%. Over the next year, revenue is forecast to grow 14%, compared to a 1.5% growth forecast for the industry in Japan. Reported Earnings • Nov 15
First quarter 2022 earnings released: JP¥13.45 loss per share (vs JP¥14.09 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¥788.0m (up 17% from 1Q 2021). Net loss: JP¥135.0m (loss narrowed 4.3% from 1Q 2021). Upcoming Dividend • Jun 22
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 25 September 2021. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (3.7%). Is New 90 Day High Low • Mar 02
New 90-day low: JP¥888 The company is down 10.0% from its price of JP¥983 on 02 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 13% over the same period. Reported Earnings • Feb 14
Second quarter 2021 earnings released: JP¥13.88 loss per share (vs JP¥95.08 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: JP¥723.0m (down 60% from 2Q 2020). Net loss: JP¥139.0m (down 115% from profit in 2Q 2020). Is New 90 Day High Low • Jan 20
New 90-day low: JP¥894 The company is down 20% from its price of JP¥1,119 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 Telecom industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: JP¥930 The company is down 16% from its price of JP¥1,111 on 24 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 Telecom industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 02
New 90-day low: JP¥950 The company is down 3.0% from its price of JP¥977 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 Telecom industry, which is up 4.0% over the same period. Announcement • Oct 10
Smartvalue Co., Ltd. to Report Q1, 2021 Results on Nov 13, 2020 Smartvalue Co., Ltd. announced that they will report Q1, 2021 results on Nov 13, 2020