Upcoming Dividend • Apr 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 13 July 2026. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.2%). Reported Earnings • Mar 14
First quarter 2026 earnings released: EPS: JP¥8.94 (vs JP¥6.34 in 1Q 2025) First quarter 2026 results: EPS: JP¥8.94 (up from JP¥6.34 in 1Q 2025). Revenue: JP¥660.0m (up 5.4% from 1Q 2025). Net income: JP¥28.0m (up 56% from 1Q 2025). Profit margin: 4.2% (up from 2.9% 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 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Feb 19
Final dividend of JP¥7.00 announced Dividend of JP¥7.00 is the same as last year. Ex-date: 28th April 2026 Payment date: 13th July 2026 Dividend yield will be 2.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 13
Full year 2025 earnings released: EPS: JP¥43.76 (vs JP¥35.79 in FY 2024) Full year 2025 results: EPS: JP¥43.76 (up from JP¥35.79 in FY 2024). Revenue: JP¥2.61b (flat on FY 2024). Net income: JP¥125.5m (up 26% from FY 2024). Profit margin: 4.8% (up from 3.9% in FY 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Dec 12
SCAT Inc., Annual General Meeting, Jan 28, 2026 SCAT Inc., Annual General Meeting, Jan 28, 2026. New Risk • Oct 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.42b (US$9.22m) This is considered a major 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. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (JP¥1.42b market cap, or US$9.22m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 14 January 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Duyuru • Oct 09
SCAT Inc. to Report Fiscal Year 2025 Results on Dec 12, 2025 SCAT Inc. announced that they will report fiscal year 2025 results on Dec 12, 2025 Reported Earnings • Sep 15
Third quarter 2025 earnings released: EPS: JP¥12.29 (vs JP¥0.71 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥12.29 (up from JP¥0.71 loss in 3Q 2024). Revenue: JP¥646.0m (up 11% from 3Q 2024). Net income: JP¥35.0m (up JP¥37.0m from 3Q 2024). Profit margin: 5.4% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Duyuru • Jul 17
SCAT Inc. to Report Q3, 2025 Results on Sep 12, 2025 SCAT Inc. announced that they will report Q3, 2025 results on Sep 12, 2025 Declared Dividend • Jul 12
First half dividend of JP¥7.00 announced Shareholders will receive a dividend of JP¥7.00. Ex-date: 30th October 2025 Payment date: 14th January 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 70% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.8% EPS decline seen over the last 5 years. Reported Earnings • Jun 16
Second quarter 2025 earnings released: EPS: JP¥14.07 (vs JP¥20.24 in 2Q 2024) Second quarter 2025 results: EPS: JP¥14.07 (down from JP¥20.24 in 2Q 2024). Revenue: JP¥676.7m (down 3.9% from 2Q 2024). Net income: JP¥40.0m (down 29% from 2Q 2024). Profit margin: 5.9% (down from 8.0% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 23
SCAT Inc. to Report Q2, 2025 Results on Jun 13, 2025 SCAT Inc. announced that they will report Q2, 2025 results on Jun 13, 2025 Upcoming Dividend • Apr 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 15
First quarter 2025 earnings released: EPS: JP¥5.99 (vs JP¥10.50 in 1Q 2024) First quarter 2025 results: EPS: JP¥5.99 (down from JP¥10.50 in 1Q 2024). Revenue: JP¥626.0m (down 7.1% from 1Q 2024). Net income: JP¥17.0m (down 41% from 1Q 2024). Profit margin: 2.7% (down from 4.3% in 1Q 2024). The decrease in margin was driven by lower revenue. 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 6% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 14
SCAT Inc. Revises Dividend Guidance for the Second Quarter of Fiscal 2025 SCAT Inc. announced that, it has decided, at a meeting of the Board of Directors held on March 14, 2025, to revise its per-share dividend forecasts as described below. Regarding dividends for FY2025, as orders and performance forecasts are progressing steadily towards the end of the current fiscal year, the company have revised initial annual dividend forecast of ¥13 per share (interim dividend ¥6, year-end dividend ¥7) to an annual dividend forecast of ¥14 per share (interim dividend ¥7, year-end dividend ¥7). Declared Dividend • Feb 12
Final dividend of JP¥6.00 announced Dividend of JP¥6.00 is the same as last year. Ex-date: 28th April 2025 Payment date: 11th July 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 10% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Feb 06
Full year 2024 earnings released: EPS: JP¥35.79 (vs JP¥52.48 in FY 2023) Full year 2024 results: EPS: JP¥35.79 (down from JP¥52.48 in FY 2023). Revenue: JP¥2.59b (down 5.4% from FY 2023). Net income: JP¥100.0m (down 36% from FY 2023). Profit margin: 3.9% (down from 5.7% in FY 2023). The decrease in margin was driven by lower 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 7% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 21
SCAT Inc. to Report Q1, 2025 Results on Mar 14, 2025 SCAT Inc. announced that they will report Q1, 2025 results on Mar 14, 2025 Reported Earnings • Dec 15
Full year 2024 earnings released: EPS: JP¥35.79 (vs JP¥52.48 in FY 2023) Full year 2024 results: EPS: JP¥35.79 (down from JP¥52.48 in FY 2023). Revenue: JP¥2.59b (down 5.4% from FY 2023). Net income: JP¥100.0m (down 36% from FY 2023). Profit margin: 3.9% (down from 5.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Dec 13
SCAT Inc., Annual General Meeting, Jan 30, 2025 SCAT Inc., Annual General Meeting, Jan 30, 2025. Duyuru • Oct 30
SCAT Inc. to Report Fiscal Year 2024 Results on Dec 13, 2024 SCAT Inc. announced that they will report fiscal year 2024 results on Dec 13, 2024 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 31 January 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.3%). New Risk • Sep 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.5% per year over the past 5 years. Market cap is less than US$10m (JP¥1.15b market cap, or US$7.94m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.8% net profit margin). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Reported Earnings • Sep 17
Third quarter 2024 earnings released: JP¥0.71 loss per share (vs JP¥15.61 profit in 3Q 2023) Third quarter 2024 results: JP¥0.71 loss per share (down from JP¥15.61 profit in 3Q 2023). Revenue: JP¥583.0m (down 14% from 3Q 2023). Net loss: JP¥2.00m (down 105% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥372, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 20x in the Software industry in Japan. Total loss to shareholders of 17% over the past three years. Duyuru • Jul 06
SCAT Inc. to Report Q3, 2024 Results on Sep 12, 2024 SCAT Inc. announced that they will report Q3, 2024 results on Sep 12, 2024 Reported Earnings • Jun 16
Second quarter 2024 earnings released: EPS: JP¥20.24 (vs JP¥22.70 in 2Q 2023) Second quarter 2024 results: EPS: JP¥20.24 (down from JP¥22.70 in 2Q 2023). Revenue: JP¥704.0m (down 1.3% from 2Q 2023). Net income: JP¥56.0m (down 11% from 2Q 2023). Profit margin: 8.0% (down from 8.8% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 15
Dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 30th October 2024 Payment date: 31st January 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Jun 14
SCAT Inc. Announces Interim Dividend for Fiscal Year 2024, Payable on July 11, 2024 SCAT Inc. announced that at a Board of Directors meeting held on June 13,2024, a resolution was passed to pay an interim dividend of JPY 6 per share with a record date of April 30, 2024. Total amount of dividend payouts: JPY 17.89 million. Effective date: July 11, 2024. The Company recognizes that returning profits to shareholders is an important management issue. The basic policy is to maintain stable dividends and to return profits appropriately in line with business performance. The interim dividend for fiscal 2024 will be as announced on March 14, 2024 in the "Notice Concerning Revision of Dividend Forecasts increased dividend and Abolishing Shareholder Benefits Program.", the dividend will be JPY 6 per share. There is no change in the year-end dividend forecast from the most recent dividend forecast. Duyuru • Apr 29
SCAT Inc. to Report Q2, 2024 Results on Jun 13, 2024 SCAT Inc. announced that they will report Q2, 2024 results on Jun 13, 2024 Upcoming Dividend • Apr 19
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 11 July 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 17
First quarter 2024 earnings released: EPS: JP¥10.50 (vs JP¥8.70 in 1Q 2023) First quarter 2024 results: EPS: JP¥10.50. Revenue: JP¥674.0m (up 3.9% from 1Q 2023). Net income: JP¥29.0m (down 9.4% from 1Q 2023). Profit margin: 4.3% (down from 4.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Duyuru • Mar 14
SCAT Inc. Revises Dividend Guidance for the Second Quarter and Full Year Ending October 2024 SCAT Inc. revised dividend guidance for the second quarter and full year ending October 2024. For the quarter, the company expects dividend of JPY 6.00 compared to Previous forecasts of JPY 4.50 per share.For the year, the company expects dividend of JPY 6.00 compared to Previous forecasts of JPY 5.00 per share. Declared Dividend • Feb 16
Final dividend of JP¥4.50 announced Shareholders will receive a dividend of JP¥4.50. Ex-date: 26th April 2024 Payment date: 11th July 2024 Dividend yield will be 2.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 03
Full year 2023 earnings released: EPS: JP¥52.48 (vs JP¥24.14 in FY 2022) Full year 2023 results: EPS: JP¥52.48 (up from JP¥24.14 in FY 2022). Revenue: JP¥2.74b (up 6.0% from FY 2022). Net income: JP¥157.0m (up 57% from FY 2022). Profit margin: 5.7% (up from 3.9% 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 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 30
SCAT Inc. Announces Board Appointments SCAT Inc. announced that ordinary general meeting of shareholders held on January 30, 2024. The company announced that the following representative directors and executive officers were elected at an extraordinary board of directors meet following the general meeting of shareholders. Name: Sakae Takahashi, Position: Director, General Manager of Business Management Headquarters. Reiko Akemine, Outside Director (Independent). Executive officer system (November 1, 2023) Name: Ken Michinaga, Position: Operating officer In charge of beauty ICT business. Noriyuki Fujisawa, Operating officer In charge of business services. Duyuru • Jan 06
SCAT Inc. to Report Q1, 2024 Results on Mar 14, 2024 SCAT Inc. announced that they will report Q1, 2024 results on Mar 14, 2024 Reported Earnings • Dec 15
Full year 2023 earnings released: EPS: JP¥52.48 (vs JP¥24.14 in FY 2022) Full year 2023 results: EPS: JP¥52.48 (up from JP¥24.14 in FY 2022). Revenue: JP¥2.74b (up 6.0% from FY 2022). Net income: JP¥157.0m (up 57% from FY 2022). Profit margin: 5.7% (up from 3.9% 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 31% 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 14
SCAT Inc., Annual General Meeting, Jan 30, 2024 SCAT Inc., Annual General Meeting, Jan 30, 2024, at 10:00 Tokyo Standard Time. Location: Oyama Grand Hotel 2nd floor conference room 202 Hitotonoya Oyama City, Tochigi Prefecture, Japan Tochigi Japan Agenda: To consider election of six directors; to consider election of three auditors; to consider determination of remuneration for allotment of restricted stock to directors; and to consider determination of remuneration for allotment of restricted stock to corporate. Duyuru • Oct 25
SCAT Inc. to Report Fiscal Year 2023 Results on Dec 14, 2023 SCAT Inc. announced that they will report fiscal year 2023 results on Dec 14, 2023 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥6.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 30 January 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.7%). Reported Earnings • Sep 18
Third quarter 2023 earnings released: EPS: JP¥15.61 (vs JP¥9.71 in 3Q 2022) Third quarter 2023 results: EPS: JP¥15.61 (up from JP¥9.71 in 3Q 2022). Revenue: JP¥682.0m (up 3.3% from 3Q 2022). Net income: JP¥43.0m (up 13% from 3Q 2022). Profit margin: 6.3% (up from 5.8% 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 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 13
SCAT Inc. Announces Commemorative Dividend Forecast for the Fiscal Year Ending October 31, 2023 SCAT Inc. announced that it will pay a commemorative dividend at a Board of Directors meeting held on September 12,2023, consequently the dividend forecast has been revised. Reason for the Commemorative Dividend: In the fiscal year ending October 2023, the company plans to change its trade name to "SCAT inc.", and relocate its Tokyo head office to Minato-ku, Tokyo. To commemorate this, company have decided to pay JPY 1.00 per share additionally as the commemorate dividend to express thanks to shareholders. As a result, the year year-end dividend will become JPY 6.00 per share of common stock, comprising the JPY 5.00 ordinary dividend plus the JPY 1.00 commemorative dividend. Duyuru • Jul 12
SCAT Inc. Announces Revision of Dividend for Fiscal Year Ended October 31, 2023 SCAT Inc. announced revision of dividend for fiscal year ended October 31, 2023. For the period, the company expects dividend to be ¥5.00 per share as compared to previous forecast dividend per Share ¥4.50. Duyuru • Jul 06
SCAT Inc. to Report Q3, 2023 Results on Sep 12, 2023 SCAT Inc. announced that they will report Q3, 2023 results on Sep 12, 2023 Reported Earnings • Jun 16
Second quarter 2023 earnings released: EPS: JP¥22.70 (vs JP¥2.54 in 2Q 2022) Second quarter 2023 results: EPS: JP¥22.70 (up from JP¥2.54 in 2Q 2022). Revenue: JP¥713.0m (up 6.1% from 2Q 2022). Net income: JP¥63.0m (up 473% from 2Q 2022). Profit margin: 8.8% (up from 1.6% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥4.50 per share at 1.9% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 15
First quarter 2023 earnings released: EPS: JP¥8.70 (vs JP¥7.25 in 1Q 2022) First quarter 2023 results: EPS: JP¥8.70 (up from JP¥7.25 in 1Q 2022). Revenue: JP¥649.0m (up 3.0% from 1Q 2022). Net income: JP¥32.0m (flat on 1Q 2022). Profit margin: 4.9% (down from 5.1% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: JP¥24.14 (vs JP¥27.35 in FY 2021) Full year 2022 results: EPS: JP¥24.14 (down from JP¥27.35 in FY 2021). Revenue: JP¥2.59b (up 4.2% from FY 2021). Net income: JP¥100.0m (down 17% from FY 2021). Profit margin: 3.9% (down from 4.8% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Duyuru • Jan 29
TBCSCAT Inc. to Report Q1, 2023 Results on Mar 14, 2023 TBCSCAT Inc. announced that they will report Q1, 2023 results on Mar 14, 2023 Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥478, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 22x in the Software industry in Japan. Total returns to shareholders of 13% over the past three years. Duyuru • Jan 11
TBCSCAT Inc. (TSE:3974) announces an Equity Buyback for 1,450,000 shares, representing 35.05% for ¥578.55 million. TBCSCAT Inc. (TSE:3974) announces a share repurchase program. Under the program, the company will repurchase up to 1,450,000 shares, representing 35.05% of its issued share capital (excluding treasury stock), for a total purchase price of ¥578.55 million. The shares will be repurchased at a price of ¥399 per share. The purpose of the program is to improve capital efficiency. The program will be funded from the company’s own funds. As of October 31, 2022, the company had 4,137,049 issued shares (excluding treasury stock) and 1,102,951 treasury shares. Reported Earnings • Dec 15
Full year 2022 earnings released: EPS: JP¥24.14 (vs JP¥27.35 in FY 2021) Full year 2022 results: EPS: JP¥24.14 (down from JP¥27.35 in FY 2021). Revenue: JP¥2.59b (up 4.2% from FY 2021). Net income: JP¥100.0m (down 17% from FY 2021). Profit margin: 3.9% (down from 4.8% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 21% 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 13
TBCSCAT Inc., Annual General Meeting, Jan 27, 2023 TBCSCAT Inc., Annual General Meeting, Jan 27, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Executive Officer & Director Hiroyuki Fukuda 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. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥401, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 3.2% over the past three years. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥4.50 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 27 January 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.8%). Reported Earnings • Sep 10
Third quarter 2022 earnings released: EPS: JP¥9.71 (vs JP¥9.28 in 3Q 2021) Third quarter 2022 results: EPS: JP¥9.71. Revenue: JP¥660.0m (up 4.4% from 3Q 2021). Net income: JP¥38.0m (down 7.3% from 3Q 2021). Profit margin: 5.8% (down from 6.5% in 3Q 2021). Duyuru • Jul 29
TBCSCAT Inc. to Report Q3, 2022 Results on Sep 08, 2022 TBCSCAT Inc. announced that they will report Q3, 2022 results on Sep 08, 2022 Reported Earnings • Jun 11
Second quarter 2022 earnings released: EPS: JP¥5.03 (vs JP¥10.50 in 2Q 2021) Second quarter 2022 results: EPS: JP¥5.03 (down from JP¥10.50 in 2Q 2021). Revenue: JP¥651.5m (up 5.2% from 2Q 2021). Net income: JP¥22.0m (down 52% from 2Q 2021). Profit margin: 3.4% (down from 7.4% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Executive Officer & Director Hiroyuki Fukuda 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. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥339, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 24x in the Software industry in Japan. Total loss to shareholders of 22% over the past three years. Duyuru • Apr 12
TBCSCAT Inc. (TSE:3974) announces an Equity Buyback for 500,000 shares, representing 10.78% for ¥189.5 million. TBCSCAT Inc. (TSE:3974) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 10.78% of its issued share capital (excluding treasury stock), for ¥189.5 million. The shares will be repurchased at a price of ¥379 per share. The purpose of the program is improving capital efficiency in addition to avoiding the impact on the market in response to the shareholder Thibiishii Gakuin's statement to sell its shares. The acquisition of treasury stock will be carried out with own funds. The program will run until April 12, 2022. As of January 31, 2021, the company had 4,637,071 shares in issue (excluding treasury stock) and 602,929 shares in treasury. Duyuru • Apr 08
TBCSCAT Inc. to Report Q2, 2022 Results on Jun 09, 2022 TBCSCAT Inc. announced that they will report Q2, 2022 results on Jun 09, 2022 Reported Earnings • Mar 18
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥7.25 (down from JP¥8.08 in 1Q 2021). Revenue: JP¥630.0m (up 2.1% from 1Q 2021). Net income: JP¥32.0m (down 8.6% from 1Q 2021). Profit margin: 5.1% (down from 5.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥348, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 20x in the Software industry in Japan. Total loss to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥297, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 20x in the Software industry in Japan. Total loss to shareholders of 28% over the past three years. Duyuru • Feb 03
TBCSCAT Inc. to Report Q4, 2021 Results on Mar 16, 2022 TBCSCAT Inc. announced that they will report Q4, 2021 results on Mar 16, 2022 Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥395, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 23x in the Software industry in Japan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Dec 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥27.35 (up from JP¥16.38 in FY 2020). Revenue: JP¥2.48b (flat on FY 2020). Net income: JP¥120.0m (up 69% from FY 2020). Profit margin: 4.8% (up from 2.9% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 28 January 2022. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.3%). Reported Earnings • Sep 15
Third quarter 2021 earnings released: EPS JP¥9.28 (vs JP¥0.69 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥632.0m (up 14% from 3Q 2020). Net income: JP¥41.0m (up JP¥38.0m from 3Q 2020). Profit margin: 6.5% (up from 0.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Duyuru • Sep 12
TBCSCAT Inc. Provides Earnings Guidance for the Year Ending October 31, 2021 TBCSCAT Inc. provided earnings guidance for the year ending October 31, 2021. For the year, the company expects net sales of JPY 2,647 million, operating profit of JPY 160 million, profit attributable to owners of parent of JPY 95 million and basic earnings per share of JPY 21.93. Reported Earnings • Jun 13
Second quarter 2021 earnings released The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥619.0m (down 4.0% from 2Q 2020). Net income: JP¥46.0m (up 70% from 2Q 2020). Profit margin: 7.4% (up from 4.2% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Duyuru • Jun 12
TBCSCAT Inc. Provides Earnings Guidance for the Year Ending October 31, 2021 TBCSCAT Inc. provided earnings guidance for the year ending October 31, 2021. For the year, the company expects net sales of JPY 2,647 million, Operating profit of JPY 160 million, Profit attributable to owners of parent of JPY 95 million or JPY 21.93 per basic share.