Reported Earnings • May 19
Full year 2026 earnings released: EPS: JP¥120 (vs JP¥151 in FY 2025) Full year 2026 results: EPS: JP¥120 (down from JP¥151 in FY 2025). Revenue: JP¥5.76b (up 13% from FY 2025). Net income: JP¥478.0m (down 20% from FY 2025). Profit margin: 8.3% (down from 12% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • May 14
i-plug,Inc., Annual General Meeting, Jun 24, 2026 i-plug,Inc., Annual General Meeting, Jun 24, 2026. Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: JP¥79.86 (vs JP¥119 in 3Q 2025) Third quarter 2026 results: EPS: JP¥79.86 (down from JP¥119 in 3Q 2025). Revenue: JP¥1.68b (up 9.5% from 3Q 2025). Net income: JP¥318.0m (down 33% from 3Q 2025). Profit margin: 19% (down from 31% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 05
i-plug,Inc. to Report Q3, 2026 Results on Feb 13, 2026 i-plug,Inc. announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Nov 30
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 3.9% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. 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: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (JP¥5.57b market cap, or US$35.7m). Reported Earnings • Nov 19
Second quarter 2026 earnings released: EPS: JP¥28.14 (vs JP¥42.43 in 2Q 2025) Second quarter 2026 results: EPS: JP¥28.14 (down from JP¥42.43 in 2Q 2025). Revenue: JP¥1.38b (up 7.7% from 2Q 2025). Net income: JP¥112.0m (down 33% from 2Q 2025). Profit margin: 8.1% (down from 13% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,361, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 17% over the past three years. Duyuru • Sep 05
i-plug,Inc. to Report Q2, 2026 Results on Nov 14, 2025 i-plug,Inc. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 16
First quarter 2026 earnings released: JP¥45.42 loss per share (vs JP¥57.97 loss in 1Q 2025) First quarter 2026 results: JP¥45.42 loss per share (improved from JP¥57.97 loss in 1Q 2025). Revenue: JP¥1.01b (up 28% from 1Q 2025). Net loss: JP¥180.0m (loss narrowed 21% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Jul 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risk Market cap is less than US$100m (JP¥5.39b market cap, or US$36.6m). Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥302 (vs JP¥48.92 loss in FY 2024) Full year 2025 results: EPS: JP¥302 (up from JP¥48.92 loss in FY 2024). Revenue: JP¥5.08b (up 11% from FY 2024). Net income: JP¥1.20b (up JP¥1.39b from FY 2024). Profit margin: 24% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • Jun 05
i-plug,Inc. to Report Q1, 2026 Results on Aug 14, 2025 i-plug,Inc. announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥151 (vs JP¥48.92 loss in FY 2024) Full year 2025 results: EPS: JP¥151 (up from JP¥48.92 loss in FY 2024). Revenue: JP¥5.08b (up 11% from FY 2024). Net income: JP¥597.0m (up JP¥790.0m from FY 2024). Profit margin: 12% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Duyuru • May 15
i-plug,Inc., Annual General Meeting, Jun 24, 2025 i-plug,Inc., Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,485, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 18% over the past three years. New Risk • Mar 21
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 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥4.45b market cap, or US$29.9m). Duyuru • Mar 06
i-plug,Inc. to Report Fiscal Year 2025 Results on May 15, 2025 i-plug,Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥119 (vs JP¥53.19 in 3Q 2024) Third quarter 2025 results: EPS: JP¥119 (up from JP¥53.19 in 3Q 2024). Revenue: JP¥1.54b (up 9.1% from 3Q 2024). Net income: JP¥472.0m (up 125% from 3Q 2024). Profit margin: 31% (up from 15% in 3Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services 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 29% per year, which means it is performing significantly worse than earnings. Duyuru • Dec 04
i-plug,Inc. to Report Q3, 2025 Results on Feb 14, 2025 i-plug,Inc. announced that they will report Q3, 2025 results on Feb 14, 2025 Duyuru • Sep 05
i-plug,Inc. to Report Q2, 2025 Results on Nov 13, 2024 i-plug,Inc. announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 19
First quarter 2025 earnings released: JP¥57.97 loss per share (vs JP¥100 loss in 1Q 2024) First quarter 2025 results: JP¥57.97 loss per share (improved from JP¥100 loss in 1Q 2024). Revenue: JP¥788.0m (up 22% from 1Q 2024). Net loss: JP¥229.0m (loss narrowed 42% from 1Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Reported Earnings • Jun 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: JP¥48.92 loss per share (improved from JP¥125 loss in FY 2023). Revenue: JP¥4.60b (up 23% from FY 2023). Net loss: JP¥193.0m (loss narrowed 61% from FY 2023). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. New Risk • Jun 10
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 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risk Market cap is less than US$100m (JP¥6.12b market cap, or US$39.0m). Reported Earnings • May 19
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: JP¥48.92 loss per share (improved from JP¥125 loss in FY 2023). Revenue: JP¥4.60b (up 23% from FY 2023). Net loss: JP¥193.0m (loss narrowed 61% from FY 2023). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • May 16
i-plug,Inc., Annual General Meeting, Jun 21, 2024 i-plug,Inc., Annual General Meeting, Jun 21, 2024. Duyuru • Mar 02
i-plug,Inc. to Report Fiscal Year 2024 Results on May 14, 2024 i-plug,Inc. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 17
Third quarter 2024 earnings released: EPS: JP¥53.19 (vs JP¥14.49 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥53.19 (up from JP¥14.49 loss in 3Q 2023). Revenue: JP¥1.41b (up 23% from 3Q 2023). Net income: JP¥210.0m (up JP¥267.0m from 3Q 2023). Profit margin: 15% (up from net loss in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Professional Services industry in Japan. Duyuru • Nov 29
i-plug,Inc. to Report Q3, 2024 Results on Feb 14, 2024 i-plug,Inc. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 20
Second quarter 2024 earnings released: JP¥9.88 loss per share (vs JP¥36.63 loss in 2Q 2023) Second quarter 2024 results: JP¥9.88 loss per share (improved from JP¥36.63 loss in 2Q 2023). Revenue: JP¥1.13b (up 35% from 2Q 2023). Net loss: JP¥39.0m (loss narrowed 73% from 2Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Duyuru • Sep 03
i-plug,Inc. to Report Q2, 2024 Results on Nov 14, 2023 i-plug,Inc. announced that they will report Q2, 2024 results on Nov 14, 2023 Reported Earnings • Aug 16
First quarter 2024 earnings released: JP¥100 loss per share (vs JP¥72.38 loss in 1Q 2023) First quarter 2024 results: JP¥100 loss per share (further deteriorated from JP¥72.38 loss in 1Q 2023). Revenue: JP¥647.0m (up 33% from 1Q 2023). Net loss: JP¥395.0m (loss widened 39% from 1Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Duyuru • Jun 28
i-plug,Inc. to Report Q1, 2024 Results on Aug 14, 2023 i-plug,Inc. announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • Jun 22
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: JP¥125 loss per share (down from JP¥64.91 profit in FY 2022). Revenue: JP¥3.74b (up 23% from FY 2022). Net loss: JP¥492.0m (down 295% from profit in FY 2022). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Professional Services industry in Japan. Buying Opportunity • Apr 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be JP¥1,420, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 30% in a year. Earnings is forecast to grow by 58% in the next year. Buying Opportunity • Mar 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.9%. The fair value is estimated to be JP¥1,516, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Feb 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be JP¥1,489, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 16
Third quarter 2023 earnings released: JP¥14.49 loss per share (vs JP¥57.77 profit in 3Q 2022) Third quarter 2023 results: JP¥14.49 loss per share (down from JP¥57.77 profit in 3Q 2022). Revenue: JP¥1.15b (up 29% from 3Q 2022). Net loss: JP¥57.0m (down 125% from profit in 3Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Professional Services industry in Japan. Duyuru • Dec 28
i-plug,Inc. to Report Q3, 2023 Results on Feb 14, 2023 i-plug,Inc. announced that they will report Q3, 2023 results on Feb 14, 2023 Buying Opportunity • Dec 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be JP¥1,841, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last year. Meanwhile, the company became loss making. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 1 independent director (9 non-independent directors). Director & CSO Daiki Akizawa was the last 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. Duyuru • Sep 16
i-plug,Inc. (TSE:4177) agreed to acquire Maximise Co., Ltd. from Chikara Miura. i-plug,Inc. (TSE:4177) agreed to acquire Maximise Co., Ltd. from Chikara Miura on September 15, 2022. Maximise Co., Ltd. generated the Net assets of ¥28.363 million, Total assets of ¥79.183 million, Sales of ¥90.818 million, Operating income of ¥18.291 million and Net income of ¥14.911 million for the Fiscal Period 2022. Execution date of share transfer September 15, 2022. Duyuru • Aug 31
i-plug,Inc. to Report Q2, 2023 Results on Nov 14, 2022 i-plug,Inc. announced that they will report Q2, 2023 results on Nov 14, 2022 Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,714, the stock trades at a trailing P/E ratio of 42.1x. Average forward P/E is 21x in the Professional Services industry in Japan. Total loss to shareholders of 54% over the past year. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥2,350, the stock trades at a trailing P/E ratio of 36.4x. Average forward P/E is 20x in the Professional Services industry in Japan. Total loss to shareholders of 60% over the past year. Duyuru • Jun 11
i-plug,Inc. to Report Q1, 2023 Results on Aug 12, 2022 i-plug,Inc. announced that they will report Q1, 2023 results on Aug 12, 2022 Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 24% share price gain to JP¥2,253, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 21x in the Professional Services industry in Japan. Total loss to shareholders of 45% over the past year. Duyuru • May 15
i-plug, Inc., Annual General Meeting, Jun 21, 2022 i-plug, Inc., Annual General Meeting, Jun 21, 2022. Buying Opportunity • May 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be JP¥2,804, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 66%. For the next 3 years, revenue is forecast to grow by 26% per annum. Earnings is also forecast to grow by 37% per annum over the same time period. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director & CSO Daiki Akizawa was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 08
i-plug, Inc. to Report Fiscal Year 2022 Results on May 13, 2022 i-plug, Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥2,925, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 21x in the Professional Services industry in Japan. Total loss to shareholders of 35% over the past year. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,779 per share. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥2,522, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Professional Services industry in Japan. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,806 per share. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥3,500, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 20x in the Professional Services industry in Japan. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,825 per share. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥4,565, the stock trades at a forward P/E ratio of 59x. Average forward P/E is 23x in the Professional Services industry in Japan. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,800 per share. Duyuru • Mar 19
i-plug, Inc. has completed an IPO in the amount of ¥1.340392 billion. i-plug, Inc. has completed an IPO in the amount of ¥1.340392 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 511,600
Price\Range: ¥2620
Discount Per Security: ¥209.6 
