Reported Earnings • May 19
Third quarter 2026 earnings released: EPS: JP¥18.59 (vs JP¥18.22 in 3Q 2025) Third quarter 2026 results: EPS: JP¥18.59 (up from JP¥18.22 in 3Q 2025). Revenue: JP¥3.59b (up 9.8% from 3Q 2025). Net income: JP¥374.0m (up 1.1% from 3Q 2025). Profit margin: 10% (in line with 3Q 2025). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Telecom 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 • Apr 24
Fibergate Inc. to Report Fiscal Year 2026 Results on Aug 14, 2026 Fibergate Inc. announced that they will report fiscal year 2026 results on Aug 14, 2026 Declared Dividend • Mar 13
First half dividend of JP¥13.50 announced Dividend of JP¥13.50 is the same as last year. Ex-date: 29th June 2026 Payment date: 28th September 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 41% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Second quarter 2026 earnings released: EPS: JP¥16.70 (vs JP¥16.97 in 2Q 2025) Second quarter 2026 results: EPS: JP¥16.70 (down from JP¥16.97 in 2Q 2025). Revenue: JP¥3.32b (down 5.3% from 2Q 2025). Net income: JP¥336.0m (down 2.3% from 2Q 2025). Profit margin: 10% (in line with 2Q 2025). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Announcement • Feb 14
Fibergate Inc. Announces Dividend for the Six Months Ended December 31, 2025, Payable on March 12, 2026 Fibergate Inc. announced dividend of JPY 13.50 per share for the six months ended December 31, 2025 against JPY 13.50 per share paid a year ago. Scheduled date to commence dividend payments is March 12, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥13.50 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 12 March 2026. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Reported Earnings • Nov 17
First quarter 2026 earnings released: EPS: JP¥14.21 (vs JP¥15.29 in 1Q 2025) First quarter 2026 results: EPS: JP¥14.21 (down from JP¥15.29 in 1Q 2025). Revenue: JP¥3.46b (up 13% from 1Q 2025). Net income: JP¥286.0m (down 7.7% from 1Q 2025). Profit margin: 8.3% (down from 10% in 1Q 2025). 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 3.3% growth forecast for the Telecom 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 fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 05
Final dividend of JP¥13.50 announced Dividend of JP¥13.50 is the same as last year. Ex-date: 29th December 2025 Payment date: 12th March 2026 Dividend yield will be 3.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 50% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Sep 13
Price target decreased by 33% to JP¥950 Down from JP¥1,415, the current price target is provided by 1 analyst. New target price is 31% above last closing price of JP¥723. Stock is down 31% over the past year. The company is forecast to post earnings per share of JP¥64.60 for next year compared to JP¥65.18 last year. Board Change • Sep 13
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. 8 experienced directors. 1 highly experienced director. 4 independent directors (6 non-independent directors). Independent Outside Director Tomohiro Obata was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Aug 14
Fibergate Inc., Annual General Meeting, Sep 25, 2025 Fibergate Inc., Annual General Meeting, Sep 25, 2025. New Risk • Jun 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.5b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥13.50 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 29 September 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (3.3%). Major Estimate Revision • May 23
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥13.9b to JP¥12.8b. EPS estimate also fell from JP¥73.40 per share to JP¥56.70 per share. Net income forecast to grow 5.0% next year vs 17% growth forecast for Telecom industry in Japan. Consensus price target down from JP¥1,415 to JP¥990. Share price fell 3.4% to JP¥778 over the past week. Price Target Changed • May 22
Price target decreased by 26% to JP¥990 Down from JP¥1,343, the current price target is an average from 2 analysts. New target price is 24% above last closing price of JP¥797. Stock is down 37% over the past year. The company is forecast to post earnings per share of JP¥56.70 for next year compared to JP¥77.17 last year. Reported Earnings • May 19
Third quarter 2025 earnings released: EPS: JP¥18.25 (vs JP¥25.90 in 3Q 2024) Third quarter 2025 results: EPS: JP¥18.25 (down from JP¥25.90 in 3Q 2024). Revenue: JP¥3.27b (down 13% from 3Q 2024). Net income: JP¥370.0m (down 30% from 3Q 2024). Profit margin: 11% (down from 14% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥812, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Telecom industry in Japan. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥984, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Telecom industry in Japan. Total loss to shareholders of 17% over the past three years. Declared Dividend • Mar 13
First half dividend of JP¥13.50 announced Shareholders will receive a dividend of JP¥13.50. Ex-date: 27th June 2025 Payment date: 29th September 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 50% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Mar 13
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. 8 experienced directors. 1 highly experienced director. 4 independent directors (6 non-independent directors). Independent Outside Director Tomohiro Obata was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Feb 14
Fibergate Inc. Decides to Pay Interim Dividends for the Fiscal Year Ended June 2025, Payable on March 12, 2025 Fibergate Inc. announced that based on this policy, the company have decided to pay interim dividends of ¥13.5 per share for the fiscal year ended June 2025 with a record date of December 31, 2024, as per most recent dividend forecast. Reason for the dividend amount: The Group aims to expand its business performance through growth investments and regards the return of profits to shareholders as one of the most important management issues. Profits for each fiscal year will be divided into three major divisions and, in principle, one-third of which will be used as a source of profit dividends as a return to shareholders, another one-third will be used for returns to executives and employees, which are important human capital, and business investment for further growth of the Company, and the remaining one-third will be internal reserves. Announcement • Feb 10
Fibergate Inc. to Report Fiscal Year 2025 Results on Aug 14, 2025 Fibergate Inc. announced that they will report fiscal year 2025 results on Aug 14, 2025 Reported Earnings • Nov 19
First quarter 2025 earnings released: EPS: JP¥15.29 (vs JP¥18.16 in 1Q 2024) First quarter 2025 results: EPS: JP¥15.29 (down from JP¥18.16 in 1Q 2024). Revenue: JP¥3.05b (up 7.1% from 1Q 2024). Net income: JP¥310.0m (down 16% from 1Q 2024). Profit margin: 10% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 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 increased by 19% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Nov 08
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 5.7% 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: Minor Risks Dividend is not well covered by cash flows (116% cash payout ratio). Share price has been volatile over the past 3 months (5.7% average weekly change). Declared Dividend • Oct 10
Final dividend of JP¥13.50 announced Shareholders will receive a dividend of JP¥13.50. Ex-date: 27th December 2024 Payment date: 12th March 2025 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (17% earnings payout ratio) but not covered by cash flows (116% cash payout ratio). The dividend has increased by an average of 67% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 03
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥77.17 (up from JP¥72.65 in FY 2023). Revenue: JP¥12.6b (down 1.4% from FY 2023). Net income: JP¥1.57b (up 5.7% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 13% p.a. on average during the next 3 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 increased by 20% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥15.7b to JP¥14.3b. EPS estimate also fell from JP¥94.10 per share to JP¥78.90 per share. Net income forecast to grow 2.1% next year vs 4.8% growth forecast for Telecom industry in Japan. Consensus price target down from JP¥1,715 to JP¥1,515. Share price rose 3.2% to JP¥1,136 over the past week. Reported Earnings • Aug 19
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥77.17 (up from JP¥72.65 in FY 2023). Revenue: JP¥12.6b (down 1.4% from FY 2023). Net income: JP¥1.57b (up 5.7% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Telecom 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 11% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Fibergate Inc., Annual General Meeting, Sep 26, 2024 Fibergate Inc., Annual General Meeting, Sep 26, 2024. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥999, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Telecom industry in Japan. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥552 per share. Announcement • Jul 10
Fibergate Inc. to Report Q1, 2025 Results on Nov 14, 2024 Fibergate Inc. announced that they will report Q1, 2025 results on Nov 14, 2024 Upcoming Dividend • Jun 20
Upcoming dividend of JP¥12.50 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.4%). Announcement • Jun 05
Fibergate Inc. to Report Fiscal Year 2024 Results on Aug 14, 2024 Fibergate Inc. announced that they will report fiscal year 2024 results on Aug 14, 2024 Reported Earnings • May 18
Third quarter 2024 earnings released: EPS: JP¥25.90 (vs JP¥24.51 in 3Q 2023) Third quarter 2024 results: EPS: JP¥25.90 (up from JP¥24.51 in 3Q 2023). Revenue: JP¥3.73b (up 23% from 3Q 2023). Net income: JP¥525.0m (up 5.0% from 3Q 2023). Profit margin: 14% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 19
Second quarter 2024 earnings released: EPS: JP¥17.77 (vs JP¥16.62 in 2Q 2023) Second quarter 2024 results: EPS: JP¥17.77 (up from JP¥16.62 in 2Q 2023). Revenue: JP¥2.95b (up 13% from 2Q 2023). Net income: JP¥361.0m (up 6.5% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 16
Dividend of JP¥5.00 announced Shareholders will receive a dividend of JP¥5.00. Ex-date: 27th June 2024 Payment date: 30th September 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 30% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 21
Price target decreased by 8.2% to JP¥1,577 Down from JP¥1,717, the current price target is an average from 3 analysts. New target price is 60% above last closing price of JP¥988. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of JP¥82.23 for next year compared to JP¥72.65 last year. Reported Earnings • Nov 19
First quarter 2024 earnings released: EPS: JP¥18.16 (vs JP¥16.52 in 1Q 2023) First quarter 2024 results: EPS: JP¥18.16 (up from JP¥16.52 in 1Q 2023). Revenue: JP¥2.85b (up 10% from 1Q 2023). Net income: JP¥370.0m (up 9.8% from 1Q 2023). Profit margin: 13% (in line with 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Telecom industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Nov 17
Fibergate Inc. (TSE:9450) announces an Equity Buyback for 89,686 shares, representing 0.44% for ¥100 million. Fibergate Inc. (TSE:9450) announces a share repurchase program. Under the program, the company will repurchase 89,686 shares, representing 0.44% of the outstanding shares for ¥100 million. The purpose of the program is to improve capital efficiency by taking into consideration the cash on hand, stock price level, and other factors. The program will run until March 31, 2024. As of October 31, 2023, the company had 20,399,456 shares in issue(excluding treasury stock) and 232,607 shares in treasury. Announcement • Aug 26
Fibergate Inc. Approves Dividend, Payable on September 28, 2023 Fibergate Inc. at its meeting of board of directors held on August 25, 2023, approved dividend of JPY 10.00 per share compared to JPY 4.50 per share a year ago. The dividend is payable on September 28, 2023 with record date of June 30, 2023. Price Target Changed • Aug 19
Price target increased by 8.4% to JP¥1,717 Up from JP¥1,583, the current price target is an average from 3 analysts. New target price is 22% above last closing price of JP¥1,404. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥83.49 for next year compared to JP¥72.65 last year. Announcement • Aug 16
Fibergate Inc., Annual General Meeting, Sep 27, 2023 Fibergate Inc., Annual General Meeting, Sep 27, 2023. Reported Earnings • Aug 16
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥72.65 (up from JP¥52.57 in FY 2022). Revenue: JP¥12.8b (up 20% from FY 2022). Net income: JP¥1.48b (up 38% from FY 2022). Profit margin: 12% (up from 10% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 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 increased by 22% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥9.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 6.5% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,491, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Telecom industry in Japan. Total returns to shareholders of 7.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,622 per share. Announcement • Jun 03
Fibergate Inc. to Report Fiscal Year 2023 Results on Aug 14, 2023 Fibergate Inc. announced that they will report fiscal year 2023 results on Aug 14, 2023 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¥1,404, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Telecom industry in Japan. Total loss to shareholders of 2.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,386 per share. Reported Earnings • May 18
Third quarter 2023 earnings released: EPS: JP¥24.51 (vs JP¥16.91 in 3Q 2022) Third quarter 2023 results: EPS: JP¥24.51 (up from JP¥16.91 in 3Q 2022). Revenue: JP¥3.03b (up 16% from 3Q 2022). Net income: JP¥500.0m (up 45% from 3Q 2022). Profit margin: 17% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 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 increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 17
Fibergate Inc. Provides Dividend Guidance for the Fiscal Year Ending June 30, 2023 Fibergate Inc. announced annual dividend forecast for the fiscal year ending June 30, 2023, is expected to be JPY 9 per share, comprising an ordinary dividend of JPY 7 per share and a commemorative dividend of JPY 2 per share. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,065, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Telecom industry in Japan. Total returns to shareholders of 7.7% over the past three years. Reported Earnings • Feb 18
Second quarter 2023 earnings released: EPS: JP¥16.62 (vs JP¥14.62 in 2Q 2022) Second quarter 2023 results: EPS: JP¥16.62 (up from JP¥14.62 in 2Q 2022). Revenue: JP¥2.61b (up 12% from 2Q 2022). Net income: JP¥339.0m (up 13% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 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 increased by 20% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Dec 30
Fibergate Inc. to Report Q2, 2023 Results on Feb 14, 2023 Fibergate Inc. announced that they will report Q2, 2023 results on Feb 14, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chikako Shimahata was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,027, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Telecom industry in Japan. Total loss to shareholders of 36% over the past three years. Reported Earnings • Aug 14
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: JP¥52.57 (up from JP¥50.09 in FY 2021). Revenue: JP¥10.6b (up 25% from FY 2021). Net income: JP¥1.07b (up 5.3% from FY 2021). Profit margin: 10% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) missed analyst estimates by 7.5%. Over the next year, revenue is forecast to grow 12%, compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥4.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 8.0% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.1%). Announcement • Jun 03
Fibergate Inc. to Report Fiscal Year 2022 Results on Aug 12, 2022 Fibergate Inc. announced that they will report fiscal year 2022 results on Aug 12, 2022 Reported Earnings • May 19
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥16.91 (up from JP¥12.86 in 3Q 2021). Revenue: JP¥2.62b (up 18% from 3Q 2021). Net income: JP¥345.0m (up 32% from 3Q 2021). Profit margin: 13% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) exceeded analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 26%, compared to a 2.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • May 14
Fibergate Inc. Provides Consolidated Earnings Guidance for the Year Ending 2022 Fibergate Inc. provided consolidated earnings guidance for the year ending 2022. For the year, the company expects net sales of JPY 10,750 million, operating income of JPY 1,770 million, Profit attributable to owners of parent of JPY 1,180 million Profit Per Share is JPY 58.01. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chikako Shimahata was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥1,133, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Telecom industry in Japan. Total loss to shareholders of 16% over the past three years. Reported Earnings • Feb 17
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: JP¥14.62 (up from JP¥14.32 in 2Q 2021). Revenue: JP¥2.32b (up 13% from 2Q 2021). Net income: JP¥299.0m (up 2.7% from 2Q 2021). Profit margin: 13% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.6%. Earnings per share (EPS) exceeded analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 32%, compared to a 1.5% growth forecast for the industry in Japan. 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Fibergate Inc. Provides Consolidated Earnings Guidance for the Year Ending 2022 Fibergate Inc. provided consolidated earnings guidance for the year ending 2022. For the year, the company expects net sales of JPY 10,750 million, operating income of JPY 1,770 million, net income attributable to owners of parent of JPY 1,180 million or JPY 58.01 per basic share. Announcement • Dec 06
Fibergate Inc. (TSE:9450) announces an Equity Buyback for 92,900 shares, representing 0.45% for ¥100 million. Fibergate Inc. (TSE:9450) announces a share repurchase program. Under the program, the company will repurchase 92,900 shares, representing 0.45% of the outstanding shares for ¥100 million. The purpose of the program is to improve capital efficiency by comprehensively considering cash on hand and stock price level, and implementing it flexibly. The program will run until January 25, 2022. As of November 30, 2021, the company had 20,591,200 shares in issue(excluding treasury stock) and 103,716 shares in treasury. Reported Earnings • Nov 15
First quarter 2022 earnings released: EPS JP¥8.93 (vs JP¥13.45 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¥2.26b (up 6.1% from 1Q 2021). Net income: JP¥182.0m (down 33% from 1Q 2021). Profit margin: 8.1% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 05
Full year 2021 earnings released: EPS JP¥50.09 (vs JP¥36.15 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥8.49b (up 14% from FY 2020). Net income: JP¥1.02b (up 41% from FY 2020). Profit margin: 12% (up from 9.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥1,665, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Telecom industry in Japan. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,761 per share. Price Target Changed • Aug 20
Price target increased to JP¥1,840 Up from JP¥1,660, the current price target is an average from 3 analysts. New target price is 22% above last closing price of JP¥1,511. Stock is down 23% over the past year. Major Estimate Revision • Aug 20
Consensus EPS estimates increase to JP¥57.94 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥10.3b to JP¥10.8b. EPS estimate increased from JP¥52.55 to JP¥57.94 per share. Net income forecast to grow 31% next year vs 10% growth forecast for Telecom industry in Japan. Consensus price target up from JP¥1,660 to JP¥1,840. Share price rose 8.6% to JP¥1,511 over the past week. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥1,590, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 17x in the Telecom industry in Japan. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,780 per share.