Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 40% 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 (1.8%). Reported Earnings • Feb 09
Third quarter 2026 earnings released: EPS: JP¥38.60 (vs JP¥27.20 in 3Q 2025) Third quarter 2026 results: EPS: JP¥38.60 (up from JP¥27.20 in 3Q 2025). Revenue: JP¥2.48b (up 2.6% from 3Q 2025). Net income: JP¥132.0m (up 42% from 3Q 2025). Profit margin: 5.3% (up from 3.9% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 05
Now 20% undervalued Over the last 90 days, the stock has risen 3.5% to JP¥1,358. The fair value is estimated to be JP¥1,704, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. Buy Or Sell Opportunity • Dec 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.8% to JP¥1,272. The fair value is estimated to be JP¥1,592, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. Duyuru • Nov 29
Systems Design Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Systems Design Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥23.70 (vs JP¥22.54 in 2Q 2025) Second quarter 2026 results: EPS: JP¥23.70 (up from JP¥22.54 in 2Q 2025). Revenue: JP¥2.50b (up 6.3% from 2Q 2025). Net income: JP¥81.0m (up 5.2% from 2Q 2025). Profit margin: 3.2% (down from 3.3% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Duyuru • Sep 04
Systems Design Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 Systems Design Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥14.63 (vs JP¥0.88 in 1Q 2025) First quarter 2026 results: EPS: JP¥14.63 (up from JP¥0.88 in 1Q 2025). Revenue: JP¥2.43b (up 7.4% from 1Q 2025). Net income: JP¥50.0m (up JP¥47.0m from 1Q 2025). Profit margin: 2.1% (up from 0.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Jun 30
Full year 2025 earnings released: EPS: JP¥86.94 (vs JP¥100.00 in FY 2024) Full year 2025 results: EPS: JP¥86.94 (down from JP¥100.00 in FY 2024). Revenue: JP¥9.61b (up 1.6% from FY 2024). Net income: JP¥297.0m (down 13% from FY 2024). Profit margin: 3.1% (down from 3.6% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Duyuru • May 31
Systems Design Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Systems Design Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • May 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.2% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥3.67b market cap, or US$25.0m). Reported Earnings • May 12
Full year 2025 earnings released: EPS: JP¥86.93 (vs JP¥100.00 in FY 2024) Full year 2025 results: EPS: JP¥86.93 (down from JP¥100.00 in FY 2024). Revenue: JP¥9.61b (up 1.6% from FY 2024). Net income: JP¥297.0m (down 13% from FY 2024). Profit margin: 3.1% (down from 3.6% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Duyuru • May 09
Systems Design Co., Ltd., Annual General Meeting, Jun 24, 2025 Systems Design Co., Ltd., Annual General Meeting, Jun 24, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Duyuru • Mar 04
Systems Design Co., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 Systems Design Co., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥27.20 (vs JP¥33.41 in 3Q 2024) Third quarter 2025 results: EPS: JP¥27.20 (down from JP¥33.41 in 3Q 2024). Revenue: JP¥2.41b (down 2.2% from 3Q 2024). Net income: JP¥93.0m (down 18% from 3Q 2024). Profit margin: 3.9% (down from 4.6% in 3Q 2024). The decrease in margin was driven by lower revenue. 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 18% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.7% to JP¥1,013. The fair value is estimated to be JP¥841, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 6.9%. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥3.42b market cap, or US$21.7m). Duyuru • Dec 03
Systems Design Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 Systems Design Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥22.54 (vs JP¥33.42 in 2Q 2024) Second quarter 2025 results: EPS: JP¥22.54 (down from JP¥33.42 in 2Q 2024). Revenue: JP¥2.35b (up 1.8% from 2Q 2024). Net income: JP¥77.0m (down 33% from 2Q 2024). Profit margin: 3.3% (down from 4.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 30
Systems Design Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Systems Design Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥0.88 (vs JP¥11.45 in 1Q 2024) First quarter 2025 results: EPS: JP¥0.88 (down from JP¥11.45 in 1Q 2024). Revenue: JP¥2.26b (flat on 1Q 2024). Net income: JP¥3.00m (down 92% from 1Q 2024). Profit margin: 0.1% (down from 1.7% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Buy Or Sell Opportunity • Aug 07
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to JP¥959. The fair value is estimated to be JP¥781, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 22%. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥900, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 49% over the past three years. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥99.98 (vs JP¥112 in FY 2023) Full year 2024 results: EPS: JP¥99.98 (down from JP¥112 in FY 2023). Revenue: JP¥9.46b (flat on FY 2023). Net income: JP¥341.0m (down 10% from FY 2023). Profit margin: 3.6% (down from 4.0% in FY 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • May 12
Systems Design Co., Ltd., Annual General Meeting, Jun 25, 2024 Systems Design Co., Ltd., Annual General Meeting, Jun 25, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Duyuru • Mar 02
Systems Design Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Systems Design Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥33.41 (vs JP¥43.44 in 3Q 2023) Third quarter 2024 results: EPS: JP¥33.41 (down from JP¥43.44 in 3Q 2023). Revenue: JP¥2.47b (up 1.1% from 3Q 2023). Net income: JP¥114.0m (down 23% from 3Q 2023). Profit margin: 4.6% (down from 6.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 09
Systems Design Co., Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Systems Design Co., Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥33.42 (vs JP¥34.34 in 2Q 2023) Second quarter 2024 results: EPS: JP¥33.42 (down from JP¥34.34 in 2Q 2023). Revenue: JP¥2.31b (down 2.6% from 2Q 2023). Net income: JP¥114.0m (down 2.6% from 2Q 2023). Profit margin: 4.9% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 30
Systems Design Co., Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Systems Design Co., Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥11.45 (vs JP¥13.21 in 1Q 2023) First quarter 2024 results: EPS: JP¥11.45 (down from JP¥13.21 in 1Q 2023). Revenue: JP¥2.27b (up 3.5% from 1Q 2023). Net income: JP¥39.0m (down 13% from 1Q 2023). Profit margin: 1.7% (down from 2.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 24
Full year 2023 earnings released: EPS: JP¥112 (vs JP¥70.17 in FY 2022) Full year 2023 results: EPS: JP¥112 (up from JP¥70.17 in FY 2022). Revenue: JP¥9.41b (up 13% from FY 2022). Net income: JP¥380.0m (up 59% from FY 2022). Profit margin: 4.0% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥112 (vs JP¥70.17 in FY 2022) Full year 2023 results: EPS: JP¥112 (up from JP¥70.17 in FY 2022). Revenue: JP¥9.41b (up 13% from FY 2022). Net income: JP¥380.0m (up 59% from FY 2022). Profit margin: 4.0% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • May 14
Systems Design Co., Ltd., Annual General Meeting, Jun 20, 2023 Systems Design Co., Ltd., Annual General Meeting, Jun 20, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥43.43 (vs JP¥29.05 in 3Q 2022) Third quarter 2023 results: EPS: JP¥43.43 (up from JP¥29.05 in 3Q 2022). Revenue: JP¥2.44b (up 13% from 3Q 2022). Net income: JP¥148.0m (up 50% from 3Q 2022). Profit margin: 6.1% (up from 4.6% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 04
Systems Design Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Systems Design Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥34.34 (vs JP¥0.29 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥34.34 (up from JP¥0.29 loss in 2Q 2022). Revenue: JP¥2.37b (up 18% from 2Q 2022). Net income: JP¥117.0m (up JP¥118.0m from 2Q 2022). Profit margin: 4.9% (up from 0% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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. 4 non-independent directors. Outside Independent Director Shigemasa Kajimoto was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Aug 28
Systems Design Co., Ltd. to Report Q2, 2023 Results on Nov 11, 2022 Systems Design Co., Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: JP¥13.21 (vs JP¥1.18 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥13.21 (up from JP¥1.18 loss in 1Q 2022). Revenue: JP¥2.20b (up 12% from 1Q 2022). Net income: JP¥45.0m (up JP¥49.0m from 1Q 2022). Profit margin: 2.0% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 26
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥8.34b (up 4.7% from FY 2021). Net income: JP¥239.0m (up 43% from FY 2021). Profit margin: 2.9% (up from 2.1% in FY 2021). The increase in margin was driven by higher revenue. Duyuru • Jun 11
Systems Design Co., Ltd. to Report Q1, 2023 Results on Aug 12, 2022 Systems Design Co., Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022 Duyuru • May 18
Systems Design Co., Ltd., Annual General Meeting, Jun 21, 2022 Systems Design Co., Ltd., Annual General Meeting, Jun 21, 2022. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥70.16 (vs JP¥49.06 in FY 2021) Full year 2022 results: EPS: JP¥70.16 (up from JP¥49.06 in FY 2021). Revenue: JP¥8.34b (up 4.7% from FY 2021). Net income: JP¥239.0m (up 43% from FY 2021). Profit margin: 2.9% (up from 2.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. 2 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Part-Time External Auditor Kimihito Fukasawa is the most experienced director on the board, commencing their role in 2011. Outside Independent Director Shigemasa Kajimoto was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Apr 08
Systems Design Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Systems Design Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥29.04 (up from JP¥22.33 in 3Q 2021). Revenue: JP¥2.16b (up 5.0% from 3Q 2021). Net income: JP¥99.0m (up 30% from 3Q 2021). Profit margin: 4.6% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. 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 1% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥49.06 (vs JP¥78.72 loss 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¥7.97b (down 4.6% from FY 2020). Net income: JP¥167.0m (up JP¥440.0m from FY 2020). Profit margin: 2.1% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 59% 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. Reported Earnings • May 19
Full year 2021 earnings released: EPS JP¥49.05 (vs JP¥78.72 loss 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¥7.97b (down 4.6% from FY 2020). Net income: JP¥167.0m (up JP¥440.0m from FY 2020). Profit margin: 2.1% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Is New 90 Day High Low • Mar 04
New 90-day low: JP¥591 The company is down 3.0% from its price of JP¥612 on 04 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 IT industry, which is flat over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥22.31 (vs JP¥8.63 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥2.06b (up 5.8% from 3Q 2020). Net income: JP¥76.0m (up JP¥106.0m from 3Q 2020). Profit margin: 3.7% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Duyuru • Dec 30
Systems Design Co., Ltd. to Report Q3, 2021 Results on Feb 12, 2021 Systems Design Co., Ltd. announced that they will report Q3, 2021 results on Feb 12, 2021 Reported Earnings • Nov 16
Second quarter 2021 earnings released: JP¥3.23 loss per share The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥1.83b (down 14% from 2Q 2020). Net loss: JP¥11.0m (loss narrowed 94% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 90% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 01
New 90-day low: JP¥588 The company is down 2.0% from its price of JP¥601 on 03 August 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is flat over the same period. Is New 90 Day High Low • Sep 30
New 90-day high: JP¥671 The company is up 11% from its price of JP¥607 on 02 July 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 14% over the same period.