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Internet Initiative Japan

DB:I6I
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
I6I
DB
¥156B
Market Cap
  1. Home
  2. DE
  3. Telecom
Company description

Internet Initiative Japan Inc. offers Internet connectivity, WAN, outsourcing, systems integration, and equipment sales services in Japan. The last earnings update was 53 days ago. More info.


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I6I Share Price and Events
7 Day Returns
-3.4%
DB:I6I
3.6%
DE Telecom
2.1%
DE Market
1 Year Returns
63.9%
DB:I6I
-18.5%
DE Telecom
-16.6%
DE Market
I6I Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Internet Initiative Japan (I6I) -3.4% 9.9% 20% 63.9% 78.7% 77.1%
DE Telecom 3.6% -14% -15% -18.5% -28.5% -34.7%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • I6I outperformed the Telecom industry which returned -18.5% over the past year.
  • I6I outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
I6I
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Internet Initiative Japan undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Internet Initiative Japan to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Internet Initiative Japan.

DB:I6I Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:I6I
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.39
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.391 (1 + (1- 30.86%) (17.79%))
0.624
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 6.33%)
4.67%

Discounted Cash Flow Calculation for DB:I6I using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Internet Initiative Japan is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:I6I DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 4.67%)
2020 9,663.25 Analyst x4 9,231.76
2021 9,111.80 Analyst x5 8,316.23
2022 11,643.40 Analyst x5 10,152.27
2023 13,420.00 Analyst x3 11,178.85
2024 4,933.00 Analyst x1 3,925.70
2025 5,493.00 Analyst x1 4,176.16
2026 4,319.17 Est @ -21.37% 3,137.10
2027 3,668.03 Est @ -15.08% 2,545.20
2028 3,276.65 Est @ -10.67% 2,172.10
2029 3,028.08 Est @ -7.59% 1,917.70
Present value of next 10 years cash flows ¥56,753.00
DB:I6I DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥3,028.08 × (1 + -0.39%) ÷ (4.67% – -0.39%)
¥59,563.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥59,563.09 ÷ (1 + 4.67%)10
¥37,721.50
DB:I6I Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥56,753.00 + ¥37,721.50
¥94,474.50
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥94,474.50 / 45.08
¥2095.54
DB:I6I Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:I6I represents 0.00832x of TSE:3774
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00832x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 2,095.54 x 0.00832
€17.44
Value per share (EUR) From above. €17.44
Current discount Discount to share price of €28.80
= -1 x (€28.80 - €17.44) / €17.44
-65.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Internet Initiative Japan is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Internet Initiative Japan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Internet Initiative Japan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:I6I PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥123.65
TSE:3774 Share Price ** TSE (2020-04-07) in JPY ¥3460
Europe Telecom Industry PE Ratio Median Figure of 61 Publicly-Listed Telecom Companies 17.97x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Internet Initiative Japan.

DB:I6I PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:3774 Share Price ÷ EPS (both in JPY)

= 3460 ÷ 123.65

27.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Internet Initiative Japan is overvalued based on earnings compared to the Europe Telecom industry average.
  • Internet Initiative Japan is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Internet Initiative Japan's expected growth come at a high price?
Raw Data
DB:I6I PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
12.6%per year
Europe Telecom Industry PEG Ratio Median Figure of 33 Publicly-Listed Telecom Companies 1.36x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:I6I PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.98x ÷ 12.6%

2.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Internet Initiative Japan is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Internet Initiative Japan's assets?
Raw Data
DB:I6I PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥1,785.28
TSE:3774 Share Price * TSE (2020-04-07) in JPY ¥3460
Germany Telecom Industry PB Ratio Median Figure of 7 Publicly-Listed Telecom Companies 1.24x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:I6I PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:3774 Share Price ÷ Book Value per Share (both in JPY)

= 3460 ÷ 1,785.28

1.94x

* Primary Listing of Internet Initiative Japan.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Internet Initiative Japan is overvalued based on assets compared to the DE Telecom industry average.
X
Value checks
We assess Internet Initiative Japan's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Telecom industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Telecom industry average (and greater than 0)? (1 check)
  5. Internet Initiative Japan has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Internet Initiative Japan expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Internet Initiative Japan expected to grow at an attractive rate?
  • Internet Initiative Japan's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Internet Initiative Japan's earnings growth is positive but not above the Germany market average.
  • Internet Initiative Japan's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:I6I Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:I6I Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 12.6%
DB:I6I Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 5%
Germany Telecom Industry Earnings Growth Rate Market Cap Weighted Average 19.4%
Germany Telecom Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:I6I Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:I6I Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2025-03-31 252,843 23,493 8,147 1
2024-03-31 251,958 31,024 7,877 2
2023-03-31 246,247 28,172 8,112 4
2022-03-31 232,558 25,176 6,672 8
2021-03-31 220,000 22,694 5,656 9
2020-04-07
2020-03-31 206,247 20,978 4,757 9
DB:I6I Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 203,737 33,089 5,574
2019-09-30 200,687 25,690 3,294
2019-06-30 197,554 24,061 4,046
2019-03-31 192,430 25,152 3,520
2018-12-31 187,821 22,080 3,721
2018-09-30 184,025 20,015 5,604
2018-06-30 179,792 16,365 4,653
2018-03-31 176,051 13,262 5,109
2017-12-31 171,799 11,257 3,944
2017-09-30 166,654 9,398 3,547
2017-06-30 162,573 10,722 3,344
2017-03-31 157,789 7,368 3,167

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Internet Initiative Japan's earnings are expected to grow by 12.6% yearly, however this is not considered high growth (20% yearly).
  • Internet Initiative Japan's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:I6I Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Internet Initiative Japan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:I6I Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2025-03-31 180.76 180.76 180.76 1.00
2024-03-31 174.72 181.10 168.34 2.00
2023-03-31 179.93 268.39 124.20 4.00
2022-03-31 148.01 197.41 115.30 8.00
2021-03-31 125.47 145.30 105.40 9.00
2020-04-07
2020-03-31 105.54 129.60 93.20 9.00
DB:I6I Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 123.65
2019-09-30 73.08
2019-06-30 89.77
2019-03-31 78.10
2018-12-31 82.56
2018-09-30 124.35
2018-06-30 103.25
2018-03-31 56.69
2017-12-31 87.51
2017-09-30 78.45
2017-06-30 73.60
2017-03-31 34.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Internet Initiative Japan is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Internet Initiative Japan's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Internet Initiative Japan has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Internet Initiative Japan performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Internet Initiative Japan's growth in the last year to its industry (Telecom).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Internet Initiative Japan's year on year earnings growth rate has been positive over the past 5 years.
  • Internet Initiative Japan's 1-year earnings growth exceeds its 5-year average (49.8% vs 5.2%)
  • Internet Initiative Japan's earnings growth has exceeded the Europe Telecom industry average in the past year (49.8% vs 8.5%).
Earnings and Revenue History
Internet Initiative Japan's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Internet Initiative Japan Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:I6I Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 203,737.00 5,574.00 22,084.00 93.00
2019-09-30 200,687.00 3,294.00 21,874.00 224.00
2019-06-30 197,554.00 4,046.00 21,485.00 328.00
2019-03-31 192,430.00 3,520.00 20,927.00 446.00
2018-12-31 187,820.65 3,720.95 21,886.63 481.45
2018-09-30 184,024.65 5,603.95 21,478.63 458.45
2018-06-30 179,791.65 4,652.95 21,189.63 478.45
2018-03-31 176,050.65 5,108.95 20,983.63 487.45
2017-12-31 171,799.06 3,943.51 20,865.07 471.32
2017-09-30 166,654.06 3,546.51 20,368.07 473.32
2017-06-30 162,573.06 3,343.51 20,021.07 470.32
2017-03-31 157,789.06 3,166.51 19,565.07 466.32
2016-12-31 154,868.01 3,376.28 18,994.63 464.20
2016-09-30 149,438.01 3,493.28 18,792.63 467.20
2016-06-30 145,364.01 3,846.28 18,459.63 472.20
2016-03-31 140,648.01 4,038.28 18,048.63 455.20
2015-12-31 134,586.12 3,581.08 17,634.03 422.33
2015-09-30 131,211.12 3,530.08 17,231.03 422.33
2015-06-30 126,961.12 3,552.08 16,861.03 423.33
2015-03-31 123,050.12 3,322.08 16,523.76 441.33
2014-12-31 119,371.35 3,831.24 16,227.75 470.36
2014-09-30 117,048.35 3,682.24 15,958.75 451.36
2014-06-30 115,383.25 3,979.43 15,411.38 436.22
2014-03-31 114,272.35 4,442.24 14,921.75 421.36
2013-12-31 112,304.49 5,112.65 14,455.91 421.00
2013-09-30 109,535.49 5,497.65 14,165.91 423.00
2013-06-30 107,848.32 5,357.76 13,916.94 415.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Internet Initiative Japan has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Internet Initiative Japan used its assets less efficiently than the Europe Telecom industry average last year based on Return on Assets.
  • Internet Initiative Japan's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Internet Initiative Japan's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Telecom industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Internet Initiative Japan has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Internet Initiative Japan's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Internet Initiative Japan's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Internet Initiative Japan is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Internet Initiative Japan's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Internet Initiative Japan's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 8.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Internet Initiative Japan Company Filings, last reported 3 months ago.

DB:I6I Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 81,430.00 27,750.00 36,350.00
2019-09-30 79,014.00 29,030.00 34,036.00
2019-06-30 77,822.00 29,000.00 32,892.00
2019-03-31 77,118.00 26,750.00 31,957.00
2018-12-31 75,200.00 26,750.00 28,878.00
2018-09-30 76,382.00 24,750.00 28,050.00
2018-06-30 74,540.00 24,750.00 23,126.00
2018-03-31 73,988.56 24,750.00 21,402.89
2017-12-31 71,045.00 24,900.00 23,044.00
2017-09-30 69,402.00 17,750.00 19,871.00
2017-06-30 68,021.00 17,750.00 20,508.00
2017-03-31 67,380.20 17,750.00 21,958.59
2016-12-31 65,765.00 17,750.00 21,266.00
2016-09-30 66,082.00 12,250.00 19,667.00
2016-06-30 65,295.00 12,250.00 18,504.00
2016-03-31 65,343.98 9,250.00 19,569.10
2015-12-31 64,403.00 9,250.00 18,233.00
2015-09-30 63,954.00 9,250.00 20,098.00
2015-06-30 63,199.00 9,250.00 20,004.00
2015-03-31 62,843.78 9,250.00 21,093.63
2014-12-31 61,588.00 9,400.00 21,047.00
2014-09-30 60,282.00 9,400.00 19,048.00
2014-06-30 59,661.00 10,380.00 20,421.00
2014-03-31 60,180.63 10,380.00 22,421.10
2013-12-31 58,916.00 10,380.00 22,102.00
2013-09-30 57,207.00 10,380.00 25,781.00
2013-06-30 38,490.48 11,390.00 10,276.46
  • Internet Initiative Japan's level of debt (11.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (14.6% vs 11.9% today).
  • Debt is well covered by operating cash flow (340.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 37.8x coverage).
X
Financial health checks
We assess Internet Initiative Japan's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Internet Initiative Japan has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Internet Initiative Japan's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.78%
Current annual income from Internet Initiative Japan dividends. Estimated to be 1.1% next year.
If you bought €2,000 of Internet Initiative Japan shares you are expected to receive €16 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Internet Initiative Japan's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Internet Initiative Japan's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:I6I Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Germany Telecom Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:I6I Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2025-03-31 27.00 1.00
2024-03-31 36.50 2.00
2023-03-31 48.00 4.00
2022-03-31 38.75 8.00
2021-03-31 33.75 8.00
2020-04-07
2020-03-31 29.94 9.00
DB:I6I Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-14 27.000 0.916
2019-11-08 27.000 1.072
2019-06-28 27.000 1.159
2019-05-14 27.000 1.294
2019-02-14 27.000 1.168
2019-02-07 27.000 1.034
2018-11-14 27.000 1.060
2018-11-06 27.000 1.089
2018-06-29 27.000 1.229
2018-05-15 27.000 1.183
2018-02-14 27.000 1.239
2018-02-08 27.000 1.200
2017-11-14 27.000 1.253
2017-11-07 27.000 1.255
2017-06-30 27.000 1.290
2017-05-15 27.000 1.284
2017-02-14 27.000 1.334
2017-02-08 27.000 1.393
2016-11-14 27.000 1.568
2016-11-08 27.000 1.708
2016-06-30 27.000 1.374
2016-05-13 27.000 1.220
2016-02-15 22.000 0.980
2016-02-09 22.000 1.057
2015-11-16 22.000 0.956
2015-11-09 22.000 0.991
2015-07-10 22.000 0.979
2015-05-15 22.000 1.062
2015-02-16 22.000 1.005
2015-02-10 22.000 0.912
2014-11-14 22.000 0.913
2014-11-07 22.000 1.029
2014-07-16 22.000 1.038
2014-05-15 22.000 0.880
2014-02-14 22.000 0.997
2014-02-07 22.000 1.148
2013-11-14 22.000 0.791
2013-11-08 22.000 0.850
2013-06-28 22.000 0.725
2013-06-07 22.000 0.595
2013-05-15 22.000 0.635
2013-02-08 20.000 0.640
2012-11-14 17.500 0.830
2012-11-08 17.500 0.817
2012-08-07 17.500 0.914
2012-07-27 17.500 1.056
2012-06-08 17.500 1.081
2012-05-15 17.500 1.168
2012-02-13 15.000 1.101
2012-02-08 15.000 1.194
2011-11-14 15.000 1.107
2011-11-08 15.000 1.015
2011-08-12 15.000 0.939
2011-05-26 15.000 0.987
2011-02-14 15.000 1.183
2011-02-10 15.000 1.239
2010-11-15 12.500 1.103
2010-08-13 12.500 1.251
2010-06-28 12.500 0.986
2010-05-14 12.500 1.051
2010-02-15 10.000 0.986
2009-09-29 10.000 1.104
2009-06-29 10.000 1.017
2009-05-15 10.000 1.306
2009-04-15 10.000 1.466

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Internet Initiative Japan is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • Internet Initiative Japan is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Internet Initiative Japan's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Internet Initiative Japan's dividends as it is not paying a notable one for Germany.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Internet Initiative Japan's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Internet Initiative Japan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Internet Initiative Japan has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Internet Initiative Japan's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Koichi Suzuki
AGE 73
TENURE AS CEO 26 years
CEO Bio

Mr. Koichi Suzuki has been the Chief Executive Officer and President of hi-ho, Inc. since April 1, 2016. Mr. Suzuki has been the Chairman of Internet Initiative Japan Inc. since June 26, 2013 and serves as its Chief Executive Officer. He served as Chairman and Chief Executive Officer of IIJ Technology Inc. He served as the President of Asia Internet Holding Co. Ltd. From October 1998 to August 2003, he served as the President of Crosswave Communications, Inc. and its subsidiaries. He served as the President of Automotive Operations at American Suzuki Motor Corporation. He served as the President of Internet Initiative Japan Inc. from April 1994 to June 26, 2013. He has over 20 years of experience in the computer and communication industry. He has been the Chairman of hi-ho, Inc. since April 1, 2014. He serves as the Chairman of IIJ America; Crosswave Services Inc. and Crosswave Facilities, Inc. He has been a Representative Director of Internet Initiative Japan Inc. since December 1992. He serves as a Director of atom and i-Heart, Inc. He serves as a Representative Director of IIJ Media Communications, IIJ Technology Inc., Net Care, Internet Multifeed, Asia Internet Holding, and AIH Korea. He serves as a Director of IIJ Global Solutions Inc. He served as a Representative Director of Crosswave Communications, Inc. and for its subsidiaries, from October 1998 to August 2003. He served as a Representative Director of Crosswave Service Inc. and Crosswave Facilities Inc. from September 2000 to August 2003. From December 1992 to April 1994, He served as a Director of IIJ. He was a General Manager at Japan Management Association. He has been a Council Member of the Advanced Information and Telecommunications Network Society Promotion Headquarter established by the Japanese government since January 2001.

CEO Compensation
  • Insufficient data for Koichi to compare compensation growth.
  • Insufficient data for Koichi to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Internet Initiative Japan management team in years:

8
Average Tenure
56
Average Age
  • The average tenure for the Internet Initiative Japan management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Koichi Suzuki

TITLE
Chairman & CEO
AGE
73
TENURE
26 yrs

Eijiro Katsu

TITLE
President
AGE
69
TENURE
6.8 yrs

Akihisa Watai

TITLE
CFO, Chief Accounting Officer
AGE
54
TENURE
15.8 yrs

Junichi Shimagami

TITLE
CTO & Director
AGE
52
TENURE
4.8 yrs

Masayoshi Tobita

TITLE
Managing Exec. Officer & Division Director of Administrative Division

Akira Sumiya

TITLE
Executive Officer & GM of Compliance Department

Kazuhiro Tokita

TITLE
Senior Managing Executive Officer
AGE
50
TENURE
8 yrs

Takeshi Kikuchi

TITLE
Senior MD & Director
AGE
60
TENURE
9.8 yrs

Naoshi Yoneyama

TITLE
Senior Managing Exec. Officer & Division Director of Corporate Planning Division

Tadashi Kawashima

TITLE
MD & Director
AGE
56
TENURE
4.8 yrs
Board of Directors Tenure

Average tenure and age of the Internet Initiative Japan board of directors in years:

6.8
Average Tenure
64.5
Average Age
  • The tenure for the Internet Initiative Japan board of directors is about average.
Board of Directors

Koichi Suzuki

TITLE
Chairman & CEO
AGE
73
TENURE
6.8 yrs

Eijiro Katsu

TITLE
President
AGE
69
TENURE
6.8 yrs

Akihisa Watai

TITLE
CFO, Chief Accounting Officer
AGE
54
TENURE
15.8 yrs

Junichi Shimagami

TITLE
CTO & Director
AGE
52
TENURE
4.8 yrs

Takeshi Kikuchi

TITLE
Senior MD & Director
AGE
60
TENURE
9.8 yrs

Tadashi Kawashima

TITLE
MD & Director
AGE
56
TENURE
4.8 yrs

Yasurou Tanahashi

TITLE
Director
AGE
78
TENURE
15.8 yrs

Shingo Oda

TITLE
Director
AGE
75
TENURE
11.8 yrs

Toshinori Iwasawa

TITLE
Director
AGE
57
TENURE
6.8 yrs

Tadashi Okamura

TITLE
Director
AGE
81
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Internet Initiative Japan's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Internet Initiative Japan has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Internet Initiative Japan Inc. offers Internet connectivity, WAN, outsourcing, systems integration, and equipment sales services in Japan. It operates in two segments, Network Services and Systems Integration Business, and ATM Operation Business. The company’s Internet connectivity services for enterprise include IP services and IIJ data center connectivity services, IIJ FiberAccess/F and IIJ DSL/F services, IIJ mobile services, and dial-up access services, as well as other Internet connectivity services comprising IIJ ISDN/F and IIJ line management/F services. Its Internet connectivity services for consumers consist of various service, including ADSL, fiber optic, WiMAX, 3G, and LTE wireless data communication services under the IIJmio and hi-ho brand names. The company also offers WAN services, a closed network service primarily using dedicated lines, as well as wide-area Ethernet services and IP-VPN services to corporate customers; outsourcing services that comprise security-related, network-related, server-related, data center-related, and IIJ GIO/Hosting package services for non-customizable hosting package cloud computing services; and customer support and help desk solutions, and IP phone services. In addition, it provides systems integration services, which include consulting, project planning, systems design, and development of network systems, which focus on Internet business systems, and Intranet and Extranet corporate information systems; and systems operation and maintenance services. Further, the company sells routers, iPads, and other equipment, as well as software; and provides automated teller machine (ATM) services. As of June 29, 2018, it operated 29 primary points of presence (POP) for dedicated access and 1 universal POP for nationwide dial-up access; 27 Internet data centers; and 1,096 ATMs. The company was founded in 1992 and is headquartered in Tokyo, Japan.

Details
Name: Internet Initiative Japan Inc.
I6I
Exchange: DB
Founded: 1992
¥1,314,744,840
45,083,689
Website: http://www.iij.ad.jp
Address: Internet Initiative Japan Inc.
Iidabashi Grand Bloom,
2-10-2 Fujimi,
Tokyo,
102-0071,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 3774 Common Stock The Tokyo Stock Exchange JP JPY 02. Dec 2005
OTCPK IIJI.F Common Stock Pink Sheets LLC US USD 02. Dec 2005
DB I6I Common Stock Deutsche Boerse AG DE EUR 02. Dec 2005
OTCPK IIJI.Y SPON ADR EACH REP 0.5 ORD NPV Pink Sheets LLC US USD 04. Aug 1999
DB IIJ SPON ADR EACH REP 0.5 ORD NPV Deutsche Boerse AG DE EUR 04. Aug 1999
BST IIJ SPON ADR EACH REP 0.5 ORD NPV Boerse-Stuttgart DE EUR 04. Aug 1999
Number of employees
Current staff
Staff numbers
3,585
Internet Initiative Japan employees.
Industry
Integrated Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:33
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/02/14
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.