Duyuru • Feb 15
Vinx Corp., Annual General Meeting, Mar 14, 2024 Vinx Corp., Annual General Meeting, Mar 14, 2024. Duyuru • Jan 11
Vinx Corp. to Delist from Standard Section of Tokyo Stock Exchange, Effective February 15 Vinx Corp. will be delisted from standard section of Tokyo Stock Exchange effective from February 15, 2024. Delisting is due to Acquisition by a demand for share, etc. cash-out. Duyuru • Dec 22
Vinx Corp. to Report Fiscal Year 2023 Results on Feb 13, 2024 Vinx Corp. announced that they will report fiscal year 2023 results on Feb 13, 2024 Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: JP¥31.69 (vs JP¥35.14 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.69 (down from JP¥35.14 in 3Q 2022). Revenue: JP¥8.11b (up 1.8% from 3Q 2022). Net income: JP¥534.0m (down 9.6% from 3Q 2022). Profit margin: 6.6% (down from 7.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. New Risk • Nov 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 8.9% 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 (8.9% average weekly change). High level of non-cash earnings (20% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to JP¥1,666, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 18x in the IT industry in Japan. Total returns to shareholders of 44% over the past three years. Duyuru • Sep 10
Vinx Corp. to Report Q3, 2023 Results on Nov 08, 2023 Vinx Corp. announced that they will report Q3, 2023 results on Nov 08, 2023 New Risk • Aug 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% 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 (20% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: JP¥30.28 (vs JP¥30.45 in 2Q 2022) Second quarter 2023 results: EPS: JP¥30.28 (down from JP¥30.45 in 2Q 2022). Revenue: JP¥8.53b (up 3.2% from 2Q 2022). Net income: JP¥510.0m (flat on 2Q 2022). Profit margin: 6.0% (down from 6.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥22.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.6%). Duyuru • Jun 11
Vinx Corp. to Report Q2, 2023 Results on Aug 09, 2023 Vinx Corp. announced that they will report Q2, 2023 results on Aug 09, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: JP¥36.65 (vs JP¥33.06 in 1Q 2022) First quarter 2023 results: EPS: JP¥36.65 (up from JP¥33.06 in 1Q 2022). Revenue: JP¥8.54b (up 7.8% from 1Q 2022). Net income: JP¥617.0m (up 11% from 1Q 2022). Profit margin: 7.2% (up from 7.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: JP¥122 (vs JP¥96.09 in FY 2021) Full year 2022 results: EPS: JP¥122 (up from JP¥96.09 in FY 2021). Revenue: JP¥31.7b (up 6.3% from FY 2021). Net income: JP¥2.05b (up 27% from FY 2021). Profit margin: 6.5% (up from 5.4% 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 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 13 March 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.7%). Duyuru • Dec 11
Vinx Corp. to Report Fiscal Year 2022 Results on Feb 13, 2023 Vinx Corp. announced that they will report fiscal year 2022 results on Feb 13, 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. 6 non-independent directors. Full-time Auditor Yoshiro Iwami was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: JP¥35.14 (vs JP¥26.22 in 3Q 2021) Third quarter 2022 results: EPS: JP¥35.14 (up from JP¥26.22 in 3Q 2021). Revenue: JP¥7.97b (up 12% from 3Q 2021). Net income: JP¥591.0m (up 34% from 3Q 2021). Profit margin: 7.4% (up from 6.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 04
Vinx Corp. to Report Q3, 2022 Results on Nov 09, 2022 Vinx Corp. announced that they will report Q3, 2022 results on Nov 09, 2022 Duyuru • Aug 06
Vinx Corp. (TSE:3784) entered into an agreement to acquire additional 43.5% stake in Holon Co.,Ltd. Vinx Corp. (TSE:3784) entered into an agreement to acquire additional 43.5% stake in Holon Co.,Ltd. on August 4, 2022. As per the transaction, Vinx Corp. already holds 9.7% stake in Holon Co.,Ltd. The transaction is expected to close on August 24, 2022. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: JP¥30.45 (vs JP¥17.72 in 2Q 2021) Second quarter 2022 results: EPS: JP¥30.45 (up from JP¥17.72 in 2Q 2021). Revenue: JP¥8.27b (up 18% from 2Q 2021). Net income: JP¥512.0m (up 72% from 2Q 2021). Profit margin: 6.2% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.7%). Duyuru • Jun 12
Vinx Corp. to Report Q2, 2022 Results on Aug 04, 2022 Vinx Corp. announced that they will report Q2, 2022 results on Aug 04, 2022 Reported Earnings • May 13
First quarter 2022 earnings released: EPS: JP¥33.06 (vs JP¥30.09 in 1Q 2021) First quarter 2022 results: EPS: JP¥33.06 (up from JP¥30.09 in 1Q 2021). Revenue: JP¥7.92b (up 5.4% from 1Q 2021). Net income: JP¥556.0m (up 9.9% from 1Q 2021). Profit margin: 7.0% (up from 6.7% in 1Q 2021). The increase in margin was driven by higher revenue. Buying Opportunity • May 02
Now 25% undervalued Over the last 90 days, the stock is up 39%. The fair value is estimated to be JP¥1,513, 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 grown by 21%. 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. 6 non-independent directors. Full-time Auditor Yoshiro Iwami was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 07
Vinx Corp. to Report Q1, 2022 Results on May 11, 2022 Vinx Corp. announced that they will report Q1, 2022 results on May 11, 2022 Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥1,008, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 7.6% over the past three years. Duyuru • Feb 12
Vinx Corp., Annual General Meeting, Mar 10, 2022 Vinx Corp., Annual General Meeting, Mar 10, 2022. Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥96.09 (up from JP¥72.66 in FY 2020). Revenue: JP¥29.9b (up 7.7% from FY 2020). Net income: JP¥1.62b (up 32% from FY 2020). Profit margin: 5.4% (up from 4.4% in FY 2020). 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 21% 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 • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,016, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 21x in the IT industry in Japan. Total loss to shareholders of 19% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 12 March 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.3%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS JP¥26.22 (vs JP¥20.99 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥7.12b (up 12% from 3Q 2020). Net income: JP¥441.0m (up 25% from 3Q 2020). Profit margin: 6.2% (up from 5.5% in 3Q 2020). The increase in margin was driven by higher revenue. 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 17% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS JP¥17.72 (vs JP¥11.54 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥7.04b (up 6.9% from 2Q 2020). Net income: JP¥298.0m (up 54% from 2Q 2020). Profit margin: 4.2% (up from 2.9% in 2Q 2020). The increase in margin was driven by higher revenue. 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 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 07 September 2021. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.4%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS JP¥30.09 (vs JP¥29.73 in 1Q 2020) The company reported a solid first quarter result with improved earnings, although revenues and profit margins were flat. First quarter 2021 results: Revenue: JP¥7.51b (flat on 1Q 2020). Net income: JP¥506.0m (up 1.2% from 1Q 2020). Profit margin: 6.7% (in line with 1Q 2020). 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 14% per year, which means it is significantly lagging earnings. Duyuru • Mar 07
Vinx Corp. to Report Q1, 2021 Results on May 12, 2021 Vinx Corp. announced that they will report Q1, 2021 results on May 12, 2021 Is New 90 Day High Low • Feb 25
New 90-day low: JP¥1,101 The company is down 13% from its price of JP¥1,262 on 27 November 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. Duyuru • Feb 11
Vinx Corp., Annual General Meeting, Mar 11, 2021 Vinx Corp., Annual General Meeting, Mar 11, 2021. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥72.66 (vs JP¥63.92 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥27.7b (down 6.8% from FY 2019). Net income: JP¥1.22b (up 11% from FY 2019). Profit margin: 4.4% (up from 3.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 08
New 90-day low: JP¥1,128 The company is down 9.0% from its price of JP¥1,235 on 09 October 2020. The Japanese market is up 10.0% 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 • Dec 22
New 90-day low: JP¥1,150 The company is down 12% from its price of JP¥1,311 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 1.0% over the same period. Duyuru • Dec 13
Vinx Corp. to Report Fiscal Year 2020 Results on Feb 09, 2021 Vinx Corp. announced that they will report fiscal year 2020 results on Feb 09, 2021 Duyuru • Aug 02
Vinx corp. to Report Q3, 2020 Results on Nov 06, 2020 Vinx corp. announced that they will report Q3, 2020 results on Nov 06, 2020