| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 1160.66 | -28 |
| Intrinsic value (DCF) | 2002.28 | 24 |
| Graham-Dodd Method | 377.37 | -77 |
| Graham Formula | 1455.44 | -10 |
Pro-Ship Incorporated (3763.T) is a Tokyo-based software company specializing in asset and sales management solutions for businesses in Japan. Founded in 1969 and formerly known as Japan M.I.S. Co., Ltd., the company rebranded in 2001 to focus on its ProPlus Series, a suite of integrated fixed asset and sales management solutions. Key offerings include ProPlus Fixed Assets Suite for comprehensive asset tracking and ProPlusPit for inventory management. Pro-Ship also provides tailored back-office and IT infrastructure solutions, catering to businesses seeking efficient operational management. Operating in Japan's competitive software sector, the company serves enterprises requiring regulatory-compliant asset tracking and sales optimization tools. With a market cap of ¥31.9 billion (as of latest data), Pro-Ship maintains a strong balance sheet with zero debt and robust cash reserves, positioning it as a stable player in Japan's enterprise software market.
Pro-Ship presents a conservative investment opportunity with low volatility (beta: 0.256) and stable financials, including ¥1.35 billion in net income and ¥5.84 billion in cash. The company's debt-free status and consistent dividend (¥63/share) make it attractive for risk-averse investors. However, its Japan-centric focus limits growth potential compared to global SaaS competitors, and revenue growth appears modest (¥6.81 billion). Investors should weigh its strong domestic niche in asset management software against potential scalability challenges in an increasingly cloud-dominated industry.
Pro-Ship competes in Japan's enterprise software niche with specialized asset/sales management solutions. Its competitive advantage lies in deep regulatory compliance expertise for Japanese accounting standards and long-term client relationships (founded 1969). The ProPlus Suite's on-premise focus differentiates it from cloud-native rivals but may limit scalability. With ¥5.84 billion cash reserves and no debt, Pro-Ship has financial flexibility, though its R&D spending appears low (¥15 million capex), potentially hindering innovation. The company's localization gives it an edge over global players in Japan's complex business environment, but it lacks visible international expansion plans. Its 20% net margin demonstrates efficient operations, yet revenue concentration in Japan makes it vulnerable to domestic economic shifts. Pro-Ship's challenge is balancing its legacy strength in customized solutions with the industry's shift toward scalable cloud platforms.