New Risk • 9h
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Jun 01
m-up holdings, Inc. to Report Q1, 2027 Results on Aug 14, 2026 m-up holdings, Inc. announced that they will report Q1, 2027 results on Aug 14, 2026 Reported Earnings • May 20
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥41.84 (up from JP¥23.28 in FY 2025). Revenue: JP¥31.7b (up 23% from FY 2025). Net income: JP¥2.97b (up 78% from FY 2025). Profit margin: 9.4% (up from 6.5% in FY 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 15
m-up holdings, Inc., Annual General Meeting, Jun 29, 2026 m-up holdings, Inc., Annual General Meeting, Jun 29, 2026. Announcement • May 09
m-up holdings, Inc. to Report Fiscal Year 2026 Results on May 15, 2026 m-up holdings, Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.3%). Announcement • Feb 20
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 1,450,000 shares, representing 2.04% for ¥1,000 million. m-up holdings, Inc. (TSE:3661) announces a share repurchase program. Under the program, the company will repurchase up to 1,450,000 shares, representing 2.04% of its total shares outstanding excluding treasury shares, for a total of ¥1,000 million. The purpose of repurchase program is to enable a flexible capital policy in response to changes in the business environment, while also enhancing shareholder returns and improving capital efficiency. The repurchase program is valid till July 31, 2026. As of January 1, 2026, the company had 70,935,672 shares outstanding and had 2,057,104 shares in treasury. Reported Earnings • Feb 16
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: JP¥8.36b (up 24% from 3Q 2025). Net income: JP¥839.0m (up 2.4% from 3Q 2025). Profit margin: 10.0% (down from 12% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Software industry in Japan. Buy Or Sell Opportunity • Dec 26
Now 22% overvalued Over the last 90 days, the stock has fallen 8.1% to JP¥1,890. The fair value is estimated to be JP¥1,549, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to grow by 22% in a year. Earnings are forecast to grow by 43% in the next year. Announcement • Nov 29
m-up holdings, Inc. to Report Q3, 2026 Results on Feb 13, 2026 m-up holdings, Inc. announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥23.67 (vs JP¥10.02 in 2Q 2025) Second quarter 2026 results: EPS: JP¥23.67 (up from JP¥10.02 in 2Q 2025). Revenue: JP¥7.69b (up 20% from 2Q 2025). Net income: JP¥840.0m (up 135% from 2Q 2025). Profit margin: 11% (up from 5.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 17
Dividend of JP¥12.50 announced Shareholders will receive a dividend of JP¥12.50. Ex-date: 30th March 2026 Payment date: 15th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next year, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,091, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 24x in the Software industry in Japan. Total returns to shareholders of 36% over the past three years. Announcement • Sep 01
m-up holdings, Inc. to Report Q2, 2026 Results on Nov 14, 2025 m-up holdings, Inc. announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Aug 19
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 150,000 shares, representing 0.42% for ¥300 million. m-up holdings, Inc. (TSE:3661) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 0.42% of its total shares outstanding excluding treasury shares, for a total of ¥300 million. The purpose of repurchase program is to enable a flexible capital policy in response to changes in the business environment, while also enhancing shareholder returns and improving capital efficiency. The repurchase program is valid till August 29, 2025. As of June 30, 2025, the company had 35,507,936 shares outstanding excluding treasury shares and had 988,452 shares in treasury. Buy Or Sell Opportunity • Aug 19
Now 20% undervalued Over the last 90 days, the stock has risen 21% to JP¥2,313. The fair value is estimated to be JP¥2,905, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 23%. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: JP¥24.14 (vs JP¥13.27 in 1Q 2025) First quarter 2026 results: EPS: JP¥24.14 (up from JP¥13.27 in 1Q 2025). Revenue: JP¥7.41b (up 27% from 1Q 2025). Net income: JP¥859.0m (up 81% from 1Q 2025). Profit margin: 12% (up from 8.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. New Risk • Jul 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Announcement • May 31
m-up holdings, Inc. to Report Q1, 2026 Results on Aug 14, 2025 m-up holdings, Inc. announced that they will report Q1, 2026 results on Aug 14, 2025 Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,977, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 20x in the Software industry in Japan. Total returns to shareholders of 72% over the past three years. Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥46.57 (vs JP¥41.05 in FY 2024) Full year 2025 results: EPS: JP¥46.57 (up from JP¥41.05 in FY 2024). Revenue: JP¥25.8b (up 39% from FY 2024). Net income: JP¥1.66b (up 12% from FY 2024). Profit margin: 6.5% (down from 8.0% in FY 2024). Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Announcement • May 20
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 200,000 shares, representing 0.56% for ¥300 million. m-up holdings, Inc. (TSE:3661) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.56% of its total shares outstanding excluding treasury shares, for a total of ¥300 million. The purpose of repurchase program is to enable a flexible capital policy in response to changes in the business environment, while also enhancing shareholder returns and improving capital efficiency. The repurchase program is valid till May 30, 2025. As of March 31, 2025, the company had 35,663,236 shares outstanding excluding treasury shares and had 833,152 shares in treasury. Announcement • May 15
m-up holdings, Inc., Annual General Meeting, Jun 27, 2025 m-up holdings, Inc., Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,835, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 19x in the Software industry in Japan. Total returns to shareholders of 81% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥16.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,742, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 20x in the Software industry in Japan. Total returns to shareholders of 104% over the past three years. Announcement • Mar 01
m-up holdings, Inc. to Report Fiscal Year 2025 Results on May 15, 2025 m-up holdings, Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥22.97 (vs JP¥10.35 in 3Q 2024) Third quarter 2025 results: EPS: JP¥22.97 (up from JP¥10.35 in 3Q 2024). Revenue: JP¥6.73b (up 44% from 3Q 2024). Net income: JP¥819.0m (up 120% from 3Q 2024). Profit margin: 12% (up from 8.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Announcement • Nov 30
m-up holdings, Inc. to Report Q3, 2025 Results on Feb 14, 2025 m-up holdings, Inc. announced that they will report Q3, 2025 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,618, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 22x in the Software industry in Japan. Total returns to shareholders of 54% over the past three years. Declared Dividend • Nov 16
Dividend of JP¥16.50 announced Shareholders will receive a dividend of JP¥16.50. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 14
Now 21% undervalued Over the last 90 days, the stock has risen 14% to JP¥1,346. The fair value is estimated to be JP¥1,713, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 23%. Announcement • Aug 29
m-up holdings, Inc. to Report Q2, 2025 Results on Nov 14, 2024 m-up holdings, Inc. announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 19
First quarter 2025 earnings released: EPS: JP¥13.27 (vs JP¥11.89 in 1Q 2024) First quarter 2025 results: EPS: JP¥13.27 (up from JP¥11.89 in 1Q 2024). Revenue: JP¥5.84b (up 33% from 1Q 2024). Net income: JP¥476.0m (up 11% from 1Q 2024). Profit margin: 8.2% (down from 9.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 18% per year. Announcement • Aug 16
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 134,000 shares, representing 0.37% for ¥200 million. m-up holdings, Inc. (TSE:3661) announces a share repurchase program. Under the program, the company will repurchase up to 134,000 shares, representing 0.37% of its total shares outstanding excluding treasury shares, for a total of ¥200 million. The purpose of repurchase program is to enable a flexible capital policy that responds to changes in the business environment, as well as to increase shareholder returns and improve capital efficiency. The repurchase program is valid till August 30, 2024. As of June 30, 2024, the company had 35,797,257 shares outstanding excluding treasury shares and had 699,131 shares in treasury. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to JP¥991, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 20x in the Software industry in Japan. Total returns to shareholders of 33% over the past three years. Buy Or Sell Opportunity • Aug 01
Now 21% undervalued Over the last 90 days, the stock has risen 24% to JP¥1,282. The fair value is estimated to be JP¥1,615, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 24%. Board Change • Jul 01
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. 3 experienced directors. 2 highly experienced directors. Independent Outside Director Kazuo Oki was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 28
m-up holdings, Inc. to Report Q1, 2025 Results on Aug 14, 2024 m-up holdings, Inc. announced that they will report Q1, 2025 results on Aug 14, 2024 Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,253, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 22x in the Software industry in Japan. Total returns to shareholders of 97% over the past three years. Announcement • May 21
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 100,000 shares, representing 0.27% for ¥100 million. m-up holdings, Inc. (TSE:3661) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.27% of its total shares outstanding excluding treasury shares, for a total of ¥100 million. The purpose of repurchase program is to enable flexible capital policies that respond to changes in the business environment, as well as to enhance shareholder returns and improve capital efficiency. The repurchase program is valid till May 31, 2024. As of March 31, 2024, the company had 36,496,388 shares outstanding excluding treasury shares and had 537,272 shares in treasury. Reported Earnings • May 20
Full year 2024 earnings released: EPS: JP¥41.05 (vs JP¥30.23 in FY 2023) Full year 2024 results: EPS: JP¥41.05 (up from JP¥30.23 in FY 2023). Revenue: JP¥18.6b (up 17% from FY 2023). Net income: JP¥1.48b (up 36% from FY 2023). Profit margin: 8.0% (up from 6.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. New Risk • Apr 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.3%). Announcement • Mar 02
m-up holdings, Inc. to Report Fiscal Year 2024 Results on May 15, 2024 m-up holdings, Inc. announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JP¥10.35 (vs JP¥7.63 in 3Q 2023) Third quarter 2024 results: EPS: JP¥10.35 (up from JP¥7.63 in 3Q 2023). Revenue: JP¥4.66b (up 14% from 3Q 2023). Net income: JP¥373.0m (up 35% from 3Q 2023). Profit margin: 8.0% (up from 6.7% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 100,000 shares, representing 0.27% for ¥100 million. m-up holdings, Inc. (TSE:3661) announces an share repurchase program. Under the program the company will repurchase 100,000 shares, representing 0.27% of the outstanding shares for ¥100 million. The purpose of the program is to enable a flexible capital policy that responds to changes in the business environment and to increase shareholder value. The program will run until February 29, 2024. As of December 31, 2023, the company had 36,496,388 shares (excluding treasury stock) outstanding and 439,371 shares in treasury. Announcement • Dec 03
m-up holdings, Inc. to Report Q3, 2024 Results on Feb 14, 2024 m-up holdings, Inc. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 18
Second quarter 2024 earnings released: EPS: JP¥10.11 (vs JP¥8.91 in 2Q 2023) Second quarter 2024 results: EPS: JP¥10.11 (up from JP¥8.91 in 2Q 2023). Revenue: JP¥4.47b (up 15% from 2Q 2023). Net income: JP¥365.0m (up 13% from 2Q 2023). Profit margin: 8.2% (down from 8.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
m-up holdings, Inc. to Report Q2, 2024 Results on Nov 14, 2023 m-up holdings, Inc. announced that they will report Q2, 2024 results on Nov 14, 2023 Announcement • Aug 17
m-up holdings, Inc. (TSE:3661) announces an Equity Buyback for 100,000 shares, representing 0.27% for ¥150 million. m-up holdings, Inc. (TSE:3661) announces an share repurchase program. Under the program the company will repurchase 100,000 shares, representing 0.27% of the outstanding shares for ¥150 million. The purpose of the program is to enable a flexible capital policy that responds to changes in the business environment. The program will run until August 31, 2023. As of March 31, 2023, the company had 36,496,388 shares (excluding treasury stock) outstanding and 339,345 shares in treasury. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥11.89 (vs JP¥8.77 in 1Q 2023) First quarter 2024 results: EPS: JP¥11.89 (up from JP¥8.77 in 1Q 2023). Revenue: JP¥4.39b (up 14% from 1Q 2023). Net income: JP¥430.0m (up 36% from 1Q 2023). Profit margin: 9.8% (up from 8.2% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,362, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 25x in the Software industry in Japan. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,147, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 24x in the Software industry in Japan. Total returns to shareholders of 94% over the past three years. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥30.23 (vs JP¥27.01 in FY 2022) Full year 2023 results: EPS: JP¥30.23 (up from JP¥27.01 in FY 2022). Revenue: JP¥15.9b (up 17% from FY 2022). Net income: JP¥1.09b (up 12% from FY 2022). Profit margin: 6.9% (down from 7.2% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 30% per year. Announcement • May 16
m-up holdings, Inc., Annual General Meeting, Jun 29, 2023 m-up holdings, Inc., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: JP¥7.63 (vs JP¥9.08 in 3Q 2022) Third quarter 2023 results: EPS: JP¥7.63 (down from JP¥9.08 in 3Q 2022). Revenue: JP¥4.10b (up 11% from 3Q 2022). Net income: JP¥276.0m (down 16% from 3Q 2022). Profit margin: 6.7% (down from 8.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Nov 27
m-up holdings, Inc. to Report Q3, 2023 Results on Feb 14, 2023 m-up holdings, Inc. announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥8.91 (vs JP¥8.83 in 2Q 2022) Second quarter 2023 results: EPS: JP¥8.91 (up from JP¥8.83 in 2Q 2022). Revenue: JP¥3.90b (up 21% from 2Q 2022). Net income: JP¥322.0m (flat on 2Q 2022). Profit margin: 8.3% (down from 9.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,691, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 243% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥1,722, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 23x in the Software industry in Japan. Total returns to shareholders of 248% over the past three years. Announcement • Aug 28
m-up holdings, Inc. to Report Q2, 2023 Results on Nov 14, 2022 m-up holdings, Inc. announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 15
First quarter 2023 earnings released: EPS: JP¥8.77 (vs JP¥5.45 in 1Q 2022) First quarter 2023 results: EPS: JP¥8.77 (up from JP¥5.45 in 1Q 2022). Revenue: JP¥3.86b (up 26% from 1Q 2022). Net income: JP¥317.0m (up 61% from 1Q 2022). Profit margin: 8.2% (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 8.1%, compared to a 14% growth forecast for the Software industry in Japan. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
m-up holdings, Inc. to Report Q1, 2023 Results on Aug 12, 2022 m-up holdings, Inc. announced that they will report Q1, 2023 results on Aug 12, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥27.01 (vs JP¥17.39 in FY 2021) Full year 2022 results: EPS: JP¥27.01 (up from JP¥17.39 in FY 2021). Revenue: JP¥13.6b (up 10% from FY 2021). Net income: JP¥976.0m (up 54% from FY 2021). Profit margin: 7.2% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • May 14
m-up holdings, Inc., Annual General Meeting, Jun 29, 2022 m-up holdings, Inc., Annual General Meeting, Jun 29, 2022. Announcement • Apr 07
m-up holdings, Inc. to Report Fiscal Year 2022 Results on May 13, 2022 m-up holdings, Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,084, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 22x in the Software industry in Japan. Total returns to shareholders of 58% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥803, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 19x in the Software industry in Japan. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥889, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 19x in the Software industry in Japan. Total returns to shareholders of 75% over the past three years. Reported Earnings • Feb 18
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: JP¥3.71b (up 13% from 3Q 2021). Net income: JP¥328.0m (up 60% from 3Q 2021). Profit margin: 8.9% (up from 6.2% in 3Q 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 24%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥873, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Software industry in Japan. Total returns to shareholders of 121% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥4,740, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 25x in the Software industry in Japan. Total returns to shareholders of 94% over the past three years.