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Fixstars

TSE:3687
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3687
TSE
¥53B
Market Cap
  1. Home
  2. JP
  3. Software
Company description

Fixstars Corporation operates as a software company in Japan and internationally. The last earnings update was 24 days ago. More info.


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3687 Share Price and Events
7 Day Returns
-1.4%
TSE:3687
1.1%
JP Software
-0.3%
JP Market
1 Year Returns
29.1%
TSE:3687
18.6%
JP Software
6.1%
JP Market
3687 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fixstars (3687) -1.4% 2.1% 4.6% 29.1% 129.4% 163.2%
JP Software 1.1% 11.1% 17% 18.6% 88.8% 127.6%
JP Market -0.3% 0.7% 10.6% 6.1% 14.6% 25.5%
1 Year Return vs Industry and Market
  • 3687 outperformed the Software industry which returned 18.6% over the past year.
  • 3687 outperformed the Market in Japan which returned 6.1% over the past year.
Price Volatility
3687
Industry
5yr Volatility vs Market

3687 Value

 Is Fixstars 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 Fixstars 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 Fixstars.

TSE:3687 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year JP Government Bond Rate -0.1%

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 TSE:3687
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Software Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.129 (1 + (1- 30.86%) (0%))
1.087
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.087 * 6.33%)
6.79%

Discounted Cash Flow Calculation for TSE:3687 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fixstars 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.

TSE:3687 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.79%)
2020 1,008.00 Analyst x1 943.92
2021 1,187.00 Analyst x1 1,040.89
2022 1,410.00 Analyst x1 1,157.84
2023 1,694.00 Analyst x1 1,302.62
2024 2,212.00 Analyst x1 1,592.82
2025 2,531.31 Est @ 14.44% 1,706.88
2026 2,786.42 Est @ 10.08% 1,759.46
2027 2,982.23 Est @ 7.03% 1,763.40
2028 3,128.13 Est @ 4.89% 1,732.09
2029 3,234.41 Est @ 3.4% 1,677.09
Present value of next 10 years cash flows ¥14,676.00
TSE:3687 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥3,234.41 × (1 + -0.09%) ÷ (6.79% – -0.09%)
¥46,980.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥46,980.62 ÷ (1 + 6.79%)10
¥24,360.11
TSE:3687 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥14,676.00 + ¥24,360.11
¥39,036.11
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥39,036.11 / 33.03
¥1181.94
TSE:3687 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥1,181.94
Current discount Discount to share price of ¥1,590.00
= -1 x (¥1,590.00 - ¥1,181.94) / ¥1,181.94
-34.5%

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

  • The current share price of Fixstars 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 Fixstars's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fixstars's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:3687 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥26.33
TSE:3687 Share Price ** TSE (2019-12-04) in JPY ¥1590
Japan Software Industry PE Ratio Median Figure of 97 Publicly-Listed Software Companies 29.09x
Japan Market PE Ratio Median Figure of 3,068 Publicly-Listed Companies 15.44x

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

** Primary Listing of Fixstars.

TSE:3687 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:3687 Share Price ÷ EPS (both in JPY)

= 1590 ÷ 26.33

60.38x

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

  • Fixstars is overvalued based on earnings compared to the JP Software industry average.
  • Fixstars is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does Fixstars's expected growth come at a high price?
Raw Data
TSE:3687 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 60.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
18.1%per year
Japan Software Industry PEG Ratio Median Figure of 33 Publicly-Listed Software Companies 3.16x
Japan Market PEG Ratio Median Figure of 1,368 Publicly-Listed Companies 1.88x

*Line of best fit is calculated by linear regression .

TSE:3687 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 60.38x ÷ 18.1%

3.33x

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

  • Fixstars is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Fixstars's assets?
Raw Data
TSE:3687 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥99.55
TSE:3687 Share Price * TSE (2019-12-04) in JPY ¥1590
Japan Software Industry PB Ratio Median Figure of 116 Publicly-Listed Software Companies 3.41x
Japan Market PB Ratio Median Figure of 3,527 Publicly-Listed Companies 1.12x
TSE:3687 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:3687 Share Price ÷ Book Value per Share (both in JPY)

= 1590 ÷ 99.55

15.97x

* Primary Listing of Fixstars.

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

  • Fixstars is overvalued based on assets compared to the JP Software industry average.
X
Value checks
We assess Fixstars'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Fixstars 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.

3687 Future Performance

 How is Fixstars expected to perform in the next 1 to 3 years based on estimates from 2 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
18.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fixstars expected to grow at an attractive rate?
  • Fixstars's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Fixstars's earnings growth is expected to exceed the Japan market average.
  • Fixstars's revenue growth is expected to exceed the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:3687 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:3687 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 18.1%
TSE:3687 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 8.4%
Japan Software Industry Earnings Growth Rate Market Cap Weighted Average 18.8%
Japan Software Industry Revenue Growth Rate Market Cap Weighted Average 9.5%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.4%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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
TSE:3687 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:3687 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-09-30 10,190 2,475 1,805 1
2023-09-30 8,795 1,956 1,392 1
2022-09-30 8,185 1,673 999 2
2021-09-30 7,404 1,449 835 2
2020-09-30 6,751 1,271 706 2
2019-12-06
TSE:3687 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 6,966 794 870
2019-06-30 7,026 935
2019-03-31 6,528 112 922
2018-12-31 5,851 827
2018-09-30 5,275 621 823
2018-06-30 4,899 702
2018-03-31 4,696 839 652
2017-12-31 4,574 665
2017-09-30 4,450 555 557
2017-06-30 4,206 496
2017-03-31 4,105 391 504
2016-12-31 4,036 459

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fixstars's earnings are expected to grow by 18.1% yearly, however this is not considered high growth (20% yearly).
  • Fixstars's revenue is expected to grow by 8.4% 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
TSE:3687 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Fixstars Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:3687 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-09-30 54.70 54.70 54.70 1.00
2023-09-30 42.10 42.10 42.10 1.00
2022-09-30 30.25 33.20 27.30 2.00
2021-09-30 25.30 27.40 23.20 2.00
2020-09-30 21.35 23.20 19.50 2.00
2019-12-06
TSE:3687 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 26.33
2019-06-30 28.26
2019-03-31 27.83
2018-12-31 24.93
2018-09-30 24.80
2018-06-30 21.13
2018-03-31 19.57
2017-12-31 19.90
2017-09-30 16.62
2017-06-30 14.78
2017-03-31 15.02
2016-12-31 13.71

*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.
  • Fixstars is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Fixstars'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 Japan market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Japan 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.
Fixstars has a total score of 4/6, 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.

3687 Past Performance

  How has Fixstars 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 Fixstars's growth in the last year to its industry (Software).
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.
  • Fixstars has delivered over 20% year on year earnings growth in the past 5 years.
  • Fixstars's 1-year earnings growth is less than its 5-year average (5.7% vs 21.1%)
  • Fixstars's earnings growth has not exceeded the JP Software industry average in the past year (5.7% vs 19.1%).
Earnings and Revenue History
Fixstars'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 Fixstars Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:3687 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 6,966.00 870.00 1,192.00
2019-06-30 7,026.00 935.00 1,017.00 149.00
2019-03-31 6,528.00 922.00 1,000.00 149.00
2018-12-31 5,851.00 827.00 952.00 149.00
2018-09-30 5,275.00 823.00 866.00 149.00
2018-06-30 4,899.00 702.00 822.00 130.00
2018-03-31 4,696.00 652.00 741.00 130.00
2017-12-31 4,574.00 665.00 662.00 130.00
2017-09-30 4,450.00 557.00 669.00 130.00
2017-06-30 4,206.00 496.00 608.00 191.00
2017-03-31 4,105.00 504.00 593.00 191.00
2016-12-31 4,036.00 459.00 601.00 191.00
2016-09-30 4,063.00 516.00 565.00 191.00
2016-06-30 4,042.00 489.00 642.00 203.00
2016-03-31 3,902.00 448.00 629.00 203.00
2015-12-31 3,807.00 431.00 641.00 203.00
2015-09-30 3,582.00 447.00 605.00 203.00
2015-06-30 3,424.00 441.00 569.00 151.00
2015-03-31 3,264.00 381.00 581.00 151.00
2014-12-31 3,115.00 330.00 550.00 151.00
2014-09-30 2,938.00 273.00 510.00 151.00
2013-09-30 1,725.00 169.00 452.00

*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.
  • Fixstars has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Fixstars used its assets more efficiently than the JP Software industry average last year based on Return on Assets.
  • Fixstars has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fixstars'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 Software 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.
Fixstars has a total score of 4/6, 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.

3687 Health

 How is Fixstars'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 Fixstars's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fixstars is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fixstars's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fixstars'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.
  • Low level of unsold assets.
  • Fixstars has no debt, it does not need to be covered by short term assets.
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 Fixstars Company Filings, last reported 2 months ago.

TSE:3687 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,359.00 0.00 1,701.00
2019-06-30 3,127.00 200.00 1,434.00
2019-03-31 2,931.00 0.00 1,057.00
2018-12-31 2,647.00 0.00 1,120.00
2018-09-30 2,965.00 0.00 1,676.00
2018-06-30 2,686.00 0.00 1,564.00
2018-03-31 2,500.00 0.00 1,528.00
2017-12-31 2,292.00 0.00 1,244.00
2017-09-30 2,272.00 0.00 1,342.00
2017-06-30 2,430.00 0.00 1,261.00
2017-03-31 2,320.00 0.00 1,147.00
2016-12-31 2,104.00 10.00 1,057.00
2016-09-30 2,165.00 10.00 1,198.00
2016-06-30 2,048.00 40.00 1,023.00
2016-03-31 1,914.00 40.00 985.00
2015-12-31 1,846.00 30.00 867.00
2015-09-30 1,841.00 30.00 1,131.00
2015-06-30 1,740.00 40.00 939.00
2015-03-31 1,630.00 40.00 874.00
2014-12-31 1,486.00 60.00 777.00
2014-09-30 1,383.00 60.00 946.00
2013-09-30 685.00 184.00 455.00
  • Fixstars has no debt.
  • Fixstars has no debt compared to 5 years ago when it was 4.3%.
  • Fixstars has no debt, it does not need to be covered by operating cash flow.
  • Fixstars has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Fixstars'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. Fixstars 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.

3687 Dividends

 What is Fixstars'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
0.31%
Current annual income from Fixstars dividends. Estimated to be 0.59% next year.
If you bought ¥2,000 of Fixstars shares you are expected to receive ¥6 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?
  • Fixstars's pays a lower dividend yield than the bottom 25% of dividend payers in Japan (1.34%).
  • Fixstars's dividend is below the markets top 25% of dividend payers in Japan (2.98%).
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
TSE:3687 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 2 Analyst Estimates (S&P Global) See Below
Japan Software Industry Average Dividend Yield Market Cap Weighted Average of 72 Stocks 1.4%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2972 Stocks 2.3%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.8%
Japan Bottom 25% Dividend Yield 25th Percentile 1.3%
Japan Top 25% Dividend Yield 75th Percentile 3%

Industry and Market average data is calculated daily.

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

TSE:3687 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-09-30 16.00 1.00
2023-09-30 13.00 1.00
2022-09-30 9.00 2.00
2021-09-30 8.00 2.00
2020-09-30 6.00 2.00
2019-12-06
TSE:3687 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-12 5.000 0.341
2018-12-13 7.000 0.476
2018-11-07 7.000 0.535
2018-05-10 6.500 0.434
2017-12-14 5.200 0.362
2017-11-10 5.200 0.493
2016-12-15 4.600 0.650
2016-11-10 4.600 0.697
2015-12-17 4.000 0.882
2015-11-12 4.000 0.801
2015-05-07 2.800 0.494
2014-12-24 2.400 0.388
2014-11-10 2.400 0.381
2014-08-05 2.200 0.296
2014-05-08 2.200 0.353

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

  • Fixstars is not paying a notable dividend for Japan, therefore no need to check if the payments are stable.
  • Fixstars is not paying a notable dividend for Japan, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Fixstars's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Fixstars's dividends as it is not paying a notable one for Japan.
Future Payout to shareholders
  • No need to calculate the sustainability of Fixstars's dividends in 3 years as they are not expected to pay a notable one for Japan.
X
Income/ dividend checks
We assess Fixstars'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 Fixstars afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fixstars 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.

3687 Management

 What is the CEO of Fixstars'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
Satoshi Miki
AGE 48
TENURE AS CEO 17.2 years
CEO Bio

Mr. Satoshi Miki serves as the Chief Executive Officer of Fixstars Solutions, Inc. Mr. Miki co-founded of Fixstars Corporation in 2002 and serves as its Chief Executive Officer. He serves as the Chief Executive Officer Fixstars Corporation. Mr. Miki served as the President of Fixstars Corporation from October 2002 to 2018 and served as its Executive Officer until 2018. His research interests include virtual machine monitors and operating systems. He founded SoftWorld Inc. in 1998 and serves as its Vice-President. He has been Representative Director of Fixstars Corporation since October 2002. He Graduated from the School of Commerce at Waseda University in 1995. He holds Ph.D. in Computer Science at the Tsukuba University.

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

Average tenure and age of the Fixstars management team in years:

12.6
Average Tenure
48
Average Age
  • The average tenure for the Fixstars management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Satoshi Miki

TITLE
Founder
AGE
48
TENURE
17.2 yrs

Minako Hori

TITLE
Executive Officer
AGE
41
TENURE
12.6 yrs

Akihiro Asahara

TITLE
Chief Executive Officer of Fixstars Solutions

Toshiyuki Hachisuka

TITLE
Executive Officer and Director
AGE
48

Owen Stampflee

TITLE
Linux Product Manager of Fixstars Solutions
TENURE
3.9 yrs

Yasuhiko Shiota

TITLE
Executive Officer

Satoshi Hada

TITLE
Executive Officer

Akihiko Tomita

TITLE
Executive Officer

Daichi Furusaka

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the Fixstars board of directors in years:

10
Average Tenure
65.5
Average Age
  • The average tenure for the Fixstars board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Minako Hori

TITLE
Executive Officer
AGE
41
TENURE
12 yrs

Toshiyuki Hachisuka

TITLE
Executive Officer and Director
AGE
48
TENURE
11 yrs

Michael Cusumano

TITLE
External Director
AGE
65
TENURE
4 yrs

Satoshi Miki

TITLE
Founder
AGE
48
TENURE
17.2 yrs

Kyoichi Oishi

TITLE
External Director
AGE
81
TENURE
10 yrs

Naoki Endo

TITLE
Outside Director
TENURE
1 yrs

Yoji Nikaido

TITLE
External Auditor
AGE
76
TENURE
12.2 yrs

Yuzo Izumitani

TITLE
External Standing Corporate Auditor
AGE
66
TENURE
6.7 yrs

Yoichi Shikata

TITLE
External Auditor
AGE
72
TENURE
10 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 Fixstars'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. Fixstars 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.

3687 News

Simply Wall St News

3687 Company Info

Description

Fixstars Corporation operates as a software company in Japan and internationally. The company offers M3 technical support, processor evaluation, software development and optimization, OS firmware development support, system configuration, training for software developers, and other services. It serves in the area of automotive, flash storage, industrial, finance, healthcare, and computing. Fixstars Corporation was founded in 2002 and is headquartered in Tokyo, Japan.

Details
Name: Fixstars Corporation
3687
Exchange: TSE
Founded: 2002
¥52,513,391,100
33,027,290
Website: http://www.fixstars.com
Address: Fixstars Corporation
Gate City Osaki West Tower,
18th Floor,
Tokyo,
141-0032,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 3687 Common Shares The Tokyo Stock Exchange JP JPY 23. Apr 2014
BST FIX Common Shares Boerse-Stuttgart DE EUR 23. Apr 2014
Number of employees
Current staff
Staff numbers
176
Fixstars employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/06 15:29
End of day share price update: 2019/12/04 00:00
Last estimates confirmation: 2019/11/26
Last earnings filing: 2019/11/12
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/09/30


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.