Announcement • May 29
Meitec Group Holdings Inc. Proposes Dividend for Year Ended March 31, 2026, Payable on June 24, 2026 MEITEC Group Holdings Inc. proposed dividend for year ended March 31, 2026. For the year, the company proposed dividend of JPY 106 per share compared to previously paid dividend of JPY 110 per share. Effective date: June 24, 2026. Total dividend: JPY 8,183 million. The dividend will be presented as the agenda item 1 to the annual general meeting of shareholders which is planned to be held on June 23, 2026. Record date: March 31, 2026. Reported Earnings • May 13
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥195 (up from JP¥165 in FY 2025). Revenue: JP¥137.7b (up 3.5% from FY 2025). Net income: JP¥15.1b (up 18% from FY 2025). Profit margin: 11% (up from 9.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Announcement • May 12
MEITEC Group Holdings Inc., Annual General Meeting, Jun 23, 2026 MEITEC Group Holdings Inc., Annual General Meeting, Jun 23, 2026. Buy Or Sell Opportunity • Apr 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥3,173. The fair value is estimated to be JP¥3,968, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 5.4%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 2.9% per annum over the same time period. Buy Or Sell Opportunity • Mar 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.8% to JP¥3,233. The fair value is estimated to be JP¥4,055, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 5.4%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 2.9% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥91.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 June 2026. The company is paying out more than 100% of its profits and is paying out 95% of its cash flow. Trailing yield: 5.5%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥54.28 (vs JP¥55.22 in 3Q 2025) Third quarter 2026 results: EPS: JP¥54.28 (down from JP¥55.22 in 3Q 2025). Revenue: JP¥35.2b (up 1.8% from 3Q 2025). Net income: JP¥4.19b (down 1.7% from 3Q 2025). Profit margin: 12% (in line with 3Q 2025). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 28
Now 21% undervalued Over the last 90 days, the stock has risen 10% to JP¥3,511. The fair value is estimated to be JP¥4,470, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 6.2%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 2.5% per annum over the same time period. Declared Dividend • Nov 29
First half dividend of JP¥91.00 announced Shareholders will receive a dividend of JP¥91.00. Ex-date: 30th March 2026 Payment date: 22nd June 2026 Dividend yield will be 5.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) nor is it adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. EPS is expected to grow by 7.6% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥46.64 (vs JP¥29.99 in 2Q 2025) Second quarter 2026 results: EPS: JP¥46.64 (up from JP¥29.99 in 2Q 2025). Revenue: JP¥34.3b (up 4.1% from 2Q 2025). Net income: JP¥3.60b (up 56% from 2Q 2025). Profit margin: 11% (up from 7.0% in 2Q 2025). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Announcement • Oct 02
MEITEC Group Holdings Inc. to Report Q2, 2026 Results on Oct 30, 2025 MEITEC Group Holdings Inc. announced that they will report Q2, 2026 results at 11:30 AM, Tokyo Standard Time on Oct 30, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥86.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥43.16 (vs JP¥41.75 in 1Q 2025) First quarter 2026 results: EPS: JP¥43.16 (up from JP¥41.75 in 1Q 2025). Revenue: JP¥34.1b (up 3.6% from 1Q 2025). Net income: JP¥3.33b (up 3.4% from 1Q 2025). Profit margin: 9.8% (in line with 1Q 2025). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Board Change • Jul 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive Officer, President & Representative Director of MEITEC FIELDERS INC. Itakura Mitsutomo was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥86.00 announced Shareholders will receive a dividend of JP¥86.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 6.3%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it covered by cash flows (102% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. EPS is expected to grow by 11% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Jul 01
MEITEC Group Holdings Inc. to Report Q1, 2026 Results on Jul 31, 2025 MEITEC Group Holdings Inc. announced that they will report Q1, 2026 results at 11:30 AM, Tokyo Standard Time on Jul 31, 2025 Reported Earnings • Jun 21
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥165 (up from JP¥158 in FY 2024). Revenue: JP¥133.1b (up 4.8% from FY 2024). Net income: JP¥12.7b (up 3.2% from FY 2024). Profit margin: 9.6% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 2.4% 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 increased by 10% per year whereas the company’s share price has increased by 12% per year. New Risk • May 15
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 102% Cash payout ratio: 102% Dividend yield: 5.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • May 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥165 (up from JP¥158 in FY 2024). Revenue: JP¥133.1b (up 4.8% from FY 2024). Net income: JP¥12.7b (up 3.2% from FY 2024). Profit margin: 9.6% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Announcement • May 08
MEITEC Group Holdings Inc., Annual General Meeting, Jun 19, 2025 MEITEC Group Holdings Inc., Annual General Meeting, Jun 19, 2025. Announcement • Apr 01
MEITEC Group Holdings Inc. to Report Fiscal Year 2025 Results on May 08, 2025 MEITEC Group Holdings Inc. announced that they will report fiscal year 2025 results at 11:30 AM, Tokyo Standard Time on May 08, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥97.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio and cash payout ratio are on the higher end at 90% and 96% respectively. Trailing yield: 5.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: JP¥55.21 (vs JP¥51.82 in 3Q 2024) Third quarter 2025 results: EPS: JP¥55.21 (up from JP¥51.82 in 3Q 2024). Revenue: JP¥34.6b (up 4.9% from 3Q 2024). Net income: JP¥4.26b (up 5.2% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Announcement • Jan 06
MEITEC Group Holdings Inc. to Report Q3, 2025 Results on Jan 30, 2025 MEITEC Group Holdings Inc. announced that they will report Q3, 2025 results on Jan 30, 2025 Declared Dividend • Nov 30
First half dividend of JP¥97.00 announced Shareholders will receive a dividend of JP¥97.00. Ex-date: 28th March 2025 Payment date: 23rd June 2025 Dividend yield will be 6.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) nor is it adequately covered by cash flows (90.3% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.5% to bring the payout ratio under control. EPS is expected to grow by 16% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥29.98 (vs JP¥39.68 in 2Q 2024) Second quarter 2025 results: EPS: JP¥29.98 (down from JP¥39.68 in 2Q 2024). Revenue: JP¥32.9b (up 5.4% from 2Q 2024). Net income: JP¥2.32b (down 26% from 2Q 2024). Profit margin: 7.0% (down from 10.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% 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, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Oct 02
MEITEC Group Holdings Inc. to Report Q2, 2025 Results on Oct 31, 2024 MEITEC Group Holdings Inc. announced that they will report Q2, 2025 results at 11:30 AM, Tokyo Standard Time on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥88.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.0%). Declared Dividend • Aug 11
Dividend of JP¥88.00 announced Shareholders will receive a dividend of JP¥88.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 4.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 03
First quarter 2025 earnings released: EPS: JP¥41.75 (vs JP¥33.64 in 1Q 2024) First quarter 2025 results: EPS: JP¥41.75 (up from JP¥33.64 in 1Q 2024). Revenue: JP¥32.9b (up 5.1% from 1Q 2024). Net income: JP¥3.22b (up 22% from 1Q 2024). Profit margin: 9.8% (up from 8.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
MEITEC Group Holdings Inc. to Report Q1, 2025 Results on Aug 01, 2024 MEITEC Group Holdings Inc. announced that they will report Q1, 2025 results on Aug 01, 2024 Reported Earnings • Jun 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥158 (up from JP¥154 in FY 2023). Revenue: JP¥127.0b (up 6.6% from FY 2023). Net income: JP¥12.3b (flat on FY 2023). Profit margin: 9.7% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.2%. Revenue is forecast to grow 3.3% 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, earnings per share has increased by 24% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥158 (up from JP¥154 in FY 2023). Revenue: JP¥127.0b (up 6.6% from FY 2023). Net income: JP¥12.3b (flat on FY 2023). Profit margin: 9.7% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.2%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Professional Services industry in Japan. 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 17% per year, which means it is significantly lagging earnings growth. Announcement • May 11
MEITEC Group Holdings Inc., Annual General Meeting, Jun 20, 2024 MEITEC Group Holdings Inc., Annual General Meeting, Jun 20, 2024. Announcement • Apr 01
MEITEC Group Holdings Inc. to Report Fiscal Year 2024 Results on May 09, 2024 MEITEC Group Holdings Inc. announced that they will report fiscal year 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥63.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.1%). Announcement • Mar 16
Meitec Group Holdings Inc. Announces Group Chief Executive Officer Changes, Effective April 1, 2024 Meitec Group Holdings Inc. announced resignation of Hideyo Kokubun as Group Chief Executive Officer and Appointment of Masato Uemura as Group Chief Executive Officer. Masato Uemura: Date of birth - July 23, 1967, Career summary: Apr. 1990 -Joined Saitama Bank, Limited. (currently Saitama Resona Bank, Limited.), Mar. 2003 - Financial Dept, Resona Holdings Inc., and Planning Dept, Resona Bank, Limited, Jan. 2007- Joined the Company, Mar. 2008 -Executive officer of the Company (current), Jun. 2009 -Director of the Company, Apr. 2019- Senior Vice President and Director (current). Scheduled date of assuming office April 1, 2024. Price Target Changed • Feb 07
Price target increased by 7.9% to JP¥3,152 Up from JP¥2,920, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥3,044. Stock is up 23% over the past year. The company is forecast to post earnings per share of JP¥162 for next year compared to JP¥154 last year. Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: JP¥51.82 (vs JP¥42.44 in 3Q 2023) Third quarter 2024 results: EPS: JP¥51.82 (up from JP¥42.44 in 3Q 2023). Revenue: JP¥32.9b (up 7.4% from 3Q 2023). Net income: JP¥4.05b (up 20% from 3Q 2023). Profit margin: 12% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Professional Services industry in Japan. 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 18% per year, which means it is significantly lagging earnings growth. Announcement • Jan 09
MEITEC Group Holdings Inc. to Report Q3, 2024 Results on Feb 01, 2024 MEITEC Group Holdings Inc. announced that they will report Q3, 2024 results on Feb 01, 2024 Buying Opportunity • Jan 05
Now 20% undervalued Over the last 90 days, the stock is up 8.6%. The fair value is estimated to be JP¥3,569, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings is also forecast to grow by 4.5% per annum over the same time period. Buying Opportunity • Dec 07
Now 22% undervalued Over the last 90 days, the stock is up 7.5%. The fair value is estimated to be JP¥3,536, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings is also forecast to grow by 4.5% per annum over the same time period. Announcement • Nov 11
Meitec Group Holdings Inc. Revises Earning Guidance for the Fiscal Year Ending March 31, 2024 Meitec Group Holdings Inc. revised earning guidance for the fiscal year ending March 31, 2024. For the period, the company expects revised net sales of JPY 46,240 compared to previously expected JPY 87,500, Operating Income of JPY 8,900 compared to previously expected JPY 13,200 and Net Income of JPY 8,300 compared to previously expected JPY 10,300. Announcement • Nov 10
MEITEC Group Holdings Inc. (TSE:9744) announces an Equity Buyback for 1,400,000 shares, representing 1.79% for ¥3,500 million. MEITEC Group Holdings Inc. (TSE:9744) announces a share repurchase program. Under the program, the company will repurchase up to 1,400,000 shares, representing 1.79% of its total shares outstanding excluding treasury shares, for a total of ¥3,500 million. The repurchase program is valid till February 29, 2024. As of September 30, 2023, the company had 78,421,293 shares outstanding excluding treasury shares and had 4,078,707 shares in treasury. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥39.68 (vs JP¥34.16 in 2Q 2023) Second quarter 2024 results: EPS: JP¥39.68 (up from JP¥34.16 in 2Q 2023). Revenue: JP¥31.3b (up 6.3% from 2Q 2023). Net income: JP¥3.11b (up 14% from 2Q 2023). Profit margin: 10.0% (in line with 2Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Announcement • Nov 09
MEITEC Group Holdings Inc. Revises Dividend Guidance for the Fiscal Year Ending March 31, 2024 Meitec Group Holdings Inc. revised dividend guidance for the fiscal year ending March 31, 2024. For the year, the company expects revised dividend of JPY 63.00 per share compared to previously expected dividend of JPY 49.00 per share. Board Change • Oct 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Independent Outside Director Akira Yamaguchi was the last 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: Insufficient board refreshment. Announcement • Oct 05
Meitec Corporation to Report Q2, 2024 Results on Nov 09, 2023 Meitec Corporation announced that they will report Q2, 2024 results on Nov 09, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.3%). Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥33.64 (vs JP¥29.58 in 1Q 2023) First quarter 2024 results: EPS: JP¥33.64 (up from JP¥29.58 in 1Q 2023). Revenue: JP¥31.3b (up 9.3% from 1Q 2023). Net income: JP¥2.64b (up 11% from 1Q 2023). Profit margin: 8.4% (up from 8.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 16% per year. Announcement • Jul 04
Meitec Corporation to Report Q1, 2024 Results on Jul 27, 2023 Meitec Corporation announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • May 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥154 (up from JP¥114 in FY 2022). Revenue: JP¥119.1b (up 11% from FY 2022). Net income: JP¥12.3b (up 33% from FY 2022). Profit margin: 10% (up from 8.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.2%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 11% per year. Announcement • May 13
Meitec Corporation, Annual General Meeting, Jun 22, 2023 Meitec Corporation, Annual General Meeting, Jun 22, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥42.44 (vs JP¥36.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥42.44 (up from JP¥36.23 in 3Q 2022). Revenue: JP¥30.7b (up 9.4% from 3Q 2022). Net income: JP¥3.38b (up 15% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Buying Opportunity • Jan 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be JP¥2,959, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 5.2%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings is also forecast to grow by 5.9% per annum over the same time period. Announcement • Jan 05
Meitec Corporation to Report Q3, 2023 Results on Jan 31, 2023 Meitec Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Buying Opportunity • Dec 07
Now 21% undervalued Over the last 90 days, the stock is up 7.0%. The fair value is estimated to be JP¥3,179, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 5.2%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings is also forecast to grow by 5.9% per annum over the same time period. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Akira Yamaguchi 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. Announcement • Oct 29
Meitec Corporation (TSE:9744) announces an Equity Buyback for 2.37% of its issued share capital, for ¥4,200 million. Meitec Corporation (TSE:9744) announces a share repurchase program. Under the program the company will repurchase upto 2.37% of the outstanding shares for ¥4,200 million. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: JP¥34.16 (vs JP¥23.80 in 2Q 2022) Second quarter 2023 results: EPS: JP¥34.16 (up from JP¥23.80 in 2Q 2022). Revenue: JP¥29.4b (up 14% from 2Q 2022). Net income: JP¥2.74b (up 41% from 2Q 2022). Profit margin: 9.3% (up from 7.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Announcement • Oct 03
Meitec Corporation to Report Q2, 2023 Results on Oct 27, 2022 Meitec Corporation announced that they will report Q2, 2023 results on Oct 27, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥88.74 (vs JP¥19.68 in 1Q 2022) First quarter 2023 results: EPS: JP¥88.74 (up from JP¥19.68 in 1Q 2022). Revenue: JP¥28.6b (up 14% from 1Q 2022). Net income: JP¥2.37b (up 48% from 1Q 2022). Profit margin: 8.3% (up from 6.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.2%, compared to a 15% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 01
Meitec Corporation to Report Q1, 2023 Results on Jul 28, 2022 Meitec Corporation announced that they will report Q1, 2023 results on Jul 28, 2022 Reported Earnings • Jun 26
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: JP¥107.1b (up 11% from FY 2021). Net income: JP¥9.24b (up 32% from FY 2021). Profit margin: 8.6% (up from 7.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.0%, compared to a 13% growth forecast for the industry in Japan. Reported Earnings • May 15
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥342 (up from JP¥256 in FY 2021). Revenue: JP¥107.1b (up 11% from FY 2021). Net income: JP¥9.24b (up 32% from FY 2021). Profit margin: 8.6% (up from 7.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Over the next year, revenue is forecast to grow 8.8%, compared to a 12% growth forecast for the industry in Japan. 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 6% per year, which means it is well ahead of earnings. Announcement • May 14
Meitec Corporation, Annual General Meeting, Jun 21, 2022 Meitec Corporation, Annual General Meeting, Jun 21, 2022. Board Change • Apr 27
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. 11 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Akira Yamaguchi 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. Insufficient board refreshment. Announcement • Apr 01
Meitec Corporation to Report Fiscal Year 2022 Results on May 12, 2022 Meitec Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥107 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥109 (up from JP¥68.32 in 3Q 2021). Revenue: JP¥28.0b (up 15% from 3Q 2021). Net income: JP¥2.94b (up 57% from 3Q 2021). Profit margin: 11% (up from 7.7% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 8.5%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥71.41 (vs JP¥53.30 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥25.7b (up 10% from 2Q 2021). Net income: JP¥1.94b (up 32% from 2Q 2021). Profit margin: 7.6% (up from 6.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Price Target Changed • Sep 29
Price target increased to JP¥7,500 Up from JP¥6,567, the current price target is an average from 4 analysts. New target price is 20% above last closing price of JP¥6,240. Stock is up 17% over the past year. 
