| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 1417.81 | 15 |
| Intrinsic value (DCF) | 776.41 | -37 |
| Graham-Dodd Method | 506.73 | -59 |
| Graham Formula | 467.39 | -62 |
Planet, Inc. (2391.T) is a Tokyo-based leader in electronic data interchange (EDI) services, specializing in streamlining transactions between manufacturers, wholesalers, and retailers in Japan. Founded in 1985, the company provides critical EDI solutions such as Basic EDI, MITEOS, and Web Ordering, facilitating seamless ordering, shipping, billing, and payment processes. Planet, Inc. also offers value-added services like the Business Partner Database and Product Database, which standardize business codes and product information across industries like cosmetics, pet supplies, and OTC medicines. Operating in the Information Technology Services sector, Planet, Inc. plays a pivotal role in Japan's supply chain digitization, enhancing efficiency for businesses through its proprietary platforms. With a strong market position and a focus on B2B transactions, the company is a key enabler of Japan's digital commerce ecosystem.
Planet, Inc. presents a stable investment opportunity with its niche dominance in Japan's EDI services market. The company boasts a strong balance sheet with zero debt and a healthy cash position (¥2.68 billion), supporting its consistent dividend payout (¥43 per share). Its low beta (0.152) indicates resilience to market volatility, appealing to risk-averse investors. However, growth may be constrained by its Japan-centric focus and the maturity of its core EDI market. Revenue (¥3.17 billion) and net income (¥458 million) reflect steady but modest growth, suggesting limited upside without geographic or product expansion. Investors should weigh its reliable cash flow (¥625 million operating cash flow) against potential saturation risks in its domestic market.
Planet, Inc. holds a defensible position in Japan's EDI sector due to its deep integration with local supply chains and long-standing client relationships. Its competitive advantage stems from proprietary databases (e.g., Business Partner and Product Databases) that create switching costs for users. The company's focus on vertical-specific solutions (e.g., cosmetics, pet supplies) differentiates it from generic EDI providers. However, its Japan-only footprint limits scalability compared to global competitors. While its asset-light model (minimal capex at ¥-2 million) ensures high margins, Planet faces emerging threats from cloud-based ERP providers (e.g., SAP, Oracle) that bundle EDI functionalities. Its lack of debt and strong cash reserves provide flexibility to invest in innovation, but slower adoption of next-gen technologies (e.g., blockchain-based EDI) could erode its edge over time. Competitively, Planet's strength lies in localization, but it must expand its tech stack to retain relevance.