Valuation Update With 7 Day Price Move • 10h
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥842, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Capital Markets industry in Japan. Total loss to shareholders of 77% over the past three years. Price Target Changed • Jun 20
Price target increased by 25% to JP¥960 Up from JP¥765, the current price target is an average from 2 analysts. New target price is 8.4% below last closing price of JP¥1,048. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥60.56 for next year compared to JP¥47.96 last year. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,046, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Capital Markets industry in Japan. Total loss to shareholders of 69% over the past three years. Announcement • May 28
Quants Research Institute Holdings, Inc. to Report Q3, 2026 Results on Aug 14, 2026 Quants Research Institute Holdings, Inc. announced that they will report Q3, 2026 results on Aug 14, 2026 Reported Earnings • May 20
Second quarter 2026 earnings released: EPS: JP¥22.50 (vs JP¥8.12 in 2Q 2025) Second quarter 2026 results: EPS: JP¥22.50 (up from JP¥8.12 in 2Q 2025). Revenue: JP¥5.62b (up 62% from 2Q 2025). Net income: JP¥1.22b (up 156% from 2Q 2025). Profit margin: 22% (up from 14% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Japan are expected to remain flat. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to JP¥845, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Capital Markets industry in Japan. Total loss to shareholders of 71% over the past three years. Price Target Changed • Feb 26
Price target decreased by 15% to JP¥1,063 Down from JP¥1,247, the current price target is an average from 3 analysts. New target price is 43% above last closing price of JP¥745. Stock is down 44% over the past year. The company is forecast to post earnings per share of JP¥60.66 for next year compared to JP¥47.96 last year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥777, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Capital Markets industry in Japan. Total loss to shareholders of 71% over the past three years. Reported Earnings • Feb 14
First quarter 2026 earnings released: EPS: JP¥12.73 (vs JP¥18.68 in 1Q 2025) First quarter 2026 results: EPS: JP¥12.73 (down from JP¥18.68 in 1Q 2025). Revenue: JP¥4.67b (up 12% from 1Q 2025). Net income: JP¥688.0m (down 37% from 1Q 2025). Profit margin: 15% (down from 26% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Japan are expected to remain flat. Announcement • Feb 14
Quants Research Institute Holdings, Inc. Provides Consolidated Earnings Guidance for the fiscal year ending September 30, 2026 Quants Research Institute Holdings, Inc. provided consolidated earnings guidance for the fiscal year ending September 30, 2026. For the year, the company expects revenue of JPY 22,184 million, operating income of JPY 5,993 million, net income attributable to owners of parent of JPY 3,533 million and net income per share of JPY 65.38. Reported Earnings • Jan 07
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥47.97 (down from JP¥98.81 in FY 2024). Revenue: JP¥16.6b (flat on FY 2024). Net income: JP¥2.75b (down 53% from FY 2024). Profit margin: 17% (down from 35% in FY 2024). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Capital Markets industry in Japan. Announcement • Dec 27
M&A Research Institute Holdings Inc. to Report Q1, 2026 Results on Feb 13, 2026 M&A Research Institute Holdings Inc. announced that they will report Q1, 2026 results on Feb 13, 2026 Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from JP¥20.0b to JP¥21.6b. EPS estimate fell from JP¥75.36 to JP¥62.57 per share. Net income forecast to grow 17% next year vs 2.1% decline forecast for Capital Markets industry in Japan. Consensus price target down from JP¥1,403 to JP¥1,337. Share price was steady at JP¥1,224 over the past week. Reported Earnings • Oct 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥50.53 (down from JP¥98.81 in FY 2024). Revenue: JP¥16.6b (flat on FY 2024). Net income: JP¥2.89b (down 50% from FY 2024). Profit margin: 17% (down from 35% in FY 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Capital Markets industry in Japan. Announcement • Oct 30
M&A Research Institute Holdings Inc., Annual General Meeting, Dec 23, 2025 M&A Research Institute Holdings Inc., Annual General Meeting, Dec 23, 2025. Buy Or Sell Opportunity • Sep 26
Now 22% undervalued Over the last 90 days, the stock has risen 2.2% to JP¥1,269. The fair value is estimated to be JP¥1,623, 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 year. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Buy Or Sell Opportunity • Sep 05
Now 20% undervalued Over the last 90 days, the stock has risen 3.5% to JP¥1,391. The fair value is estimated to be JP¥1,745, 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 year. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Sep 05
M&A Research Institute Holdings Inc. to Report Fiscal Year 2025 Results on Oct 30, 2025 M&A Research Institute Holdings Inc. announced that they will report fiscal year 2025 results on Oct 30, 2025 Buy Or Sell Opportunity • Aug 20
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,350. The fair value is estimated to be JP¥1,746, 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 year. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Price Target Changed • Aug 17
Price target decreased by 38% to JP¥1,427 Down from JP¥2,290, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,396. Stock is down 45% over the past year. The company is forecast to post earnings per share of JP¥64.60 for next year compared to JP¥98.81 last year. Reported Earnings • Jul 31
Third quarter 2025 earnings released: EPS: JP¥5.99 (vs JP¥22.62 in 3Q 2024) Third quarter 2025 results: EPS: JP¥5.99 (down from JP¥22.62 in 3Q 2024). Revenue: JP¥3.94b (down 7.2% from 3Q 2024). Net income: JP¥344.0m (down 74% from 3Q 2024). Profit margin: 8.7% (down from 31% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Capital Markets industry in Japan. Announcement • Jun 27
M&A Research Institute Holdings Inc. to Report Q3, 2025 Results on Jul 30, 2025 M&A Research Institute Holdings Inc. announced that they will report Q3, 2025 results on Jul 30, 2025 Reported Earnings • May 01
Second quarter 2025 earnings released: EPS: JP¥8.12 (vs JP¥17.04 in 2Q 2024) Second quarter 2025 results: EPS: JP¥8.12 (down from JP¥17.04 in 2Q 2024). Revenue: JP¥3.48b (down 4.0% from 2Q 2024). Net income: JP¥475.4m (down 52% from 2Q 2024). Profit margin: 14% (down from 28% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Capital Markets industry in Japan. Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Mika Aoki was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
M&A Research Institute Holdings Inc. to Report Q2, 2025 Results on Apr 30, 2025 M&A Research Institute Holdings Inc. announced that they will report Q2, 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥926, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Capital Markets industry in Japan. Total loss to shareholders of 85% over the past year. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥23.1b to JP¥21.9b. EPS estimate also fell from JP¥120 per share to JP¥95.55 per share. Net income forecast to grow 43% next year vs 3.2% growth forecast for Capital Markets industry in Japan. Consensus price target of JP¥3,723 unchanged from last update. Share price fell 10.0% to JP¥1,181 over the past week. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,380, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Capital Markets industry in Japan. Total loss to shareholders of 80% over the past year. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥1,491, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Capital Markets industry in Japan. Total loss to shareholders of 75% over the past year. Reported Earnings • Jan 31
First quarter 2025 earnings released: EPS: JP¥18.67 (vs JP¥17.04 in 1Q 2024) First quarter 2025 results: EPS: JP¥18.67 (up from JP¥17.04 in 1Q 2024). Revenue: JP¥4.18b (up 15% from 1Q 2024). Net income: JP¥1.09b (up 9.4% from 1Q 2024). Profit margin: 26% (down from 28% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Capital Markets industry in Japan. Announcement • Jan 03
M&A Research Institute Holdings Inc. to Report Q1, 2025 Results on Jan 30, 2025 M&A Research Institute Holdings Inc. announced that they will report Q1, 2025 results on Jan 30, 2025 Major Estimate Revision • Nov 29
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥26.6b to JP¥23.9b. EPS estimate fell from JP¥138 to JP¥125 per share. Net income forecast to grow 30% next year vs 17% growth forecast for Capital Markets industry in Japan. Consensus price target down from JP¥6,740 to JP¥5,340. Share price fell 4.8% to JP¥2,041 over the past week. Announcement • Nov 14
M&A Research Institute Holdings Faces Lawsuit Filed by e-LogiT for Alleged Breach of Duty M&A Research Institute Holdings Inc. announced that a lawsuit was filed against the Company on November 13, 2024. Overview of the Plaintiff: Name: e-LogiT co., ltd. ("e-LogiT"); Location: 3-11-11 Sotokanda, Chiyoda-ku, Tokyo and Job title and name of representative Ryoichi Kakui, Representative Director, Chairman and President. According to the "Notice concerning lawsuit filed by e-LogiT and lawsuit filed against e-LogiT" (the "Notice") disclosed by e-LogiT on November 13, 2024, the Company allegedly breached the "duty of care as an intermediary" in a transaction between e-LogiT and Avis Japan Corporation ("Avis Japan"), in which the Company acted as the M&A intermediary. e-LogiT claims that the Company has tort liability and/or other liability. However, since we have not yet received the complaint, the detailed contents are not clear. Additionally, the Lawsuit seems to be against both the Company and Mr. Takashi Sasao, the representative director of Avis Japan. Value of the Subject Matter of the Lawsuit: JPY 317,300,000 against both the Company and Mr. Takashi Sasao. Price Target Changed • Nov 12
Price target decreased by 11% to JP¥6,740 Down from JP¥7,580, the current price target is an average from 5 analysts. New target price is 199% above last closing price of JP¥2,257. Stock is down 38% over the past year. The company is forecast to post earnings per share of JP¥143 for next year compared to JP¥98.82 last year. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥2,258, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Capital Markets industry in Japan. Total loss to shareholders of 39% over the past year. Reported Earnings • Oct 31
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥98.81 (up from JP¥45.88 in FY 2023). Revenue: JP¥16.5b (up 92% from FY 2023). Net income: JP¥5.79b (up 119% from FY 2023). Profit margin: 35% (up from 31% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 7.7%. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Capital Markets industry in Japan. Announcement • Oct 29
M&A Research Institute Holdings Inc., Annual General Meeting, Dec 20, 2024 M&A Research Institute Holdings Inc., Annual General Meeting, Dec 20, 2024. Announcement • Aug 29
M&A Research Institute Holdings Inc. to Report Fiscal Year 2024 Results on Oct 29, 2024 M&A Research Institute Holdings Inc. announced that they will report fiscal year 2024 results on Oct 29, 2024 New Risk • Aug 13
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Less than 3 years of financial data is available. Announcement • Aug 02
M&A Research Institute Holdings Inc. (TSE:9552) announces an Equity Buyback for 1,000,000 shares, representing 1.69% for ¥2,500 million. M&A Research Institute Holdings Inc. (TSE:9552) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 1.69% of its total shares outstanding excluding treasury shares, for a total of ¥2,500 million. The purpose of repurchase program is to execute capital policy in a timely manner as the management environment changes and to allocate the proceeds to the company's shares to be granted to future executives and employees when they exercise their stock options. The repurchase program is valid till September 30, 2024. As of July 31, 2024, the company had 59,312,462 shares outstanding excluding treasury shares and had 331 shares in treasury. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,260, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Capital Markets industry in Japan. Total loss to shareholders of 11% over the past year. New Risk • Jul 23
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 Risk Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Announcement • Jun 15
M&A Research Institute Holdings Inc. to Report Q3, 2024 Results on Jul 30, 2024 M&A Research Institute Holdings Inc. announced that they will report Q3, 2024 results on Jul 30, 2024 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,170, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Capital Markets industry in Japan. Total loss to shareholders of 26% over the past year. Announcement • Mar 03
M&A Research Institute Holdings Inc. to Report Q2, 2024 Results on Apr 30, 2024 M&A Research Institute Holdings Inc. announced that they will report Q2, 2024 results on Apr 30, 2024 Price Target Changed • Jan 31
Price target increased by 8.8% to JP¥5,150 Up from JP¥4,734, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥5,300. Stock is up 73% over the past year. The company is forecast to post earnings per share of JP¥88.87 for next year compared to JP¥45.88 last year. Announcement • Jan 30
M&A Research Institute Holdings Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending September 30, 2024 M&A Research Institute Holdings Inc. provided consolidated earnings guidance for the fiscal year ending September 30, 2024. For the year, the company expects net sales of JPY 15,300 million. Operating profit of JPY 7,200 million. Profit attributable to owners of parent of JPY 4,677 million. Basic earnings per share of JPY 79.93. Announcement • Dec 28
M&A Research Institute Holdings Inc. to Report Q1, 2024 Results on Jan 30, 2024 M&A Research Institute Holdings Inc. announced that they will report Q1, 2024 results on Jan 30, 2024 New Risk • Nov 01
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Less than 3 years of financial data is available. New Risk • Oct 13
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 Risks No financial data reported. Share price has been highly volatile over the past 3 months (8.3% average weekly change). Announcement • Sep 02
M&A Research Institute Holdings Inc. to Report Fiscal Year 2023 Results on Oct 27, 2023 M&A Research Institute Holdings Inc. announced that they will report fiscal year 2023 results on Oct 27, 2023 Board Change • Jul 07
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. 3 non-independent directors. Independent Outside Director Toru Kamiyama was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 09
M&A Research Institute Holdings Inc. to Report Q3, 2023 Results on Jul 28, 2023 M&A Research Institute Holdings Inc. announced that they will report Q3, 2023 results on Jul 28, 2023 Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥8,300, the stock trades at a trailing P/E ratio of 73.5x. Average trailing P/E is 22x in the Capital Markets industry in Japan. Reported Earnings • Apr 29
Second quarter 2023 earnings released Second quarter 2023 results: EPS: JP¥31.74. Net income: JP¥609.0m (up JP¥609.0m from 2Q 2022). Reported Earnings • Jan 28
First quarter 2023 earnings released First quarter 2023 results: EPS: JP¥49.93. Net income: JP¥958.0m (up JP¥958.0m from 1Q 2022). Reported Earnings • Dec 28
Full year 2022 earnings released: EPS: JP¥71.26 (vs JP¥19.91 in FY 2021) Full year 2022 results: EPS: JP¥71.26 (up from JP¥19.91 in FY 2021). Revenue: JP¥3.91b (up 195% from FY 2021). Net income: JP¥1.33b (up 260% from FY 2021). Profit margin: 34% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Announcement • Dec 28
M&A Research Institute Inc. to Report Q1, 2023 Results on Jan 27, 2023 M&A Research Institute Inc. announced that they will report Q1, 2023 results on Jan 27, 2023 Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 19% share price decline to JP¥5,240, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 15x in the Capital Markets industry in Japan. Reported Earnings • Oct 30
Full year 2022 earnings released: EPS: JP¥71.26 (vs JP¥19.91 in FY 2021) Full year 2022 results: EPS: JP¥71.26 (up from JP¥19.91 in FY 2021). Revenue: JP¥3.91b (up 195% from FY 2021). Net income: JP¥1.33b (up 260% from FY 2021). Profit margin: 34% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Announcement • Sep 01
M&A Research Institute Inc. to Report Fiscal Year 2022 Results on Oct 31, 2022 M&A Research Institute Inc. announced that they will report fiscal year 2022 results on Oct 31, 2022 Announcement • Jul 24
M&A Research Institute Inc. to Report Q3, 2022 Results on Jul 29, 2022 M&A Research Institute Inc. announced that they will report Q3, 2022 results on Jul 29, 2022 Announcement • Jun 29
M&A Research Institute Inc. has completed an IPO in the amount of ¥5.532667 billion. M&A Research Institute Inc. has completed an IPO in the amount of ¥5.532667 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,159,900
Price\Range: ¥1330
Discount Per Security: ¥106.4
Transaction Features: Sponsor Backed Offering 
