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Stock Analysis & ValuationHOUSEI Inc. (5035.T)

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¥431.00
Sector Valuation Confidence Level
Low
Valuation methodValue, ¥Upside, %
Artificial intelligence (AI)665.4654
Intrinsic value (DCF)218.80-49
Graham-Dodd Method371.80-14
Graham Formula248.03-42

Strategic Investment Analysis

Company Overview

HOUSEI Inc. (5035.T) is a Tokyo-based technology company specializing in cloud services and IT solutions for diverse industries in Japan. Founded in 1996, HOUSEI operates in the Software - Application sector, offering contract system development, IT engineer dispatch, cross-border e-commerce platforms, AI/big data technology development, and Chinese font licensing. The company also provides printing consulting services and sells printing technology products and software. HOUSEI serves key industries such as media (newspapers, publishers), finance, manufacturing, retail, and services. With a market cap of approximately ¥3.36 billion, HOUSEI leverages its expertise in cloud computing and AI-driven solutions to address Japan's growing digital transformation needs. Its diversified service portfolio positions it as a niche player in Japan's competitive IT services market.

Investment Summary

HOUSEI Inc. presents a mixed investment profile. The company operates in Japan's expanding cloud services and IT solutions market, benefiting from digital transformation trends. However, its modest market cap (¥3.36B) and diluted EPS (¥17.74) suggest limited scale compared to larger peers. Positives include a low beta (0.323), indicating lower volatility, and a dividend yield (¥3/share) that may appeal to income-focused investors. Challenges include moderate profitability (net income of ¥126M on ¥4.92B revenue) and debt levels (¥774.8M total debt vs. ¥840.3M cash). Investors should weigh HOUSEI's niche market positioning against its financial constraints and competitive pressures in Japan's IT services sector.

Competitive Analysis

HOUSEI Inc. competes in Japan's fragmented IT services and cloud solutions market, where differentiation is critical. Its competitive advantage lies in its diversified service portfolio, combining traditional IT services (system development, engineer dispatch) with emerging technologies (AI, big data, cross-border e-commerce platforms). The company's focus on niche segments like Chinese font licensing and printing technology provides some insulation from broader competition. However, HOUSEI lacks the scale and brand recognition of larger Japanese IT firms. Its ¥4.92B revenue is dwarfed by industry leaders, limiting R&D and sales investment capacity. The company's strength in serving media and publishing industries could be a double-edged sword—providing stable demand but exposing it to sector-specific downturns. HOUSEI's ability to integrate AI/big data services into its offerings may help it compete for higher-margin projects, but execution risks remain given its smaller resource base.

Major Competitors

  • SCSK Corporation (9719.T): SCSK is a major Japanese IT services provider with stronger financials (market cap ~¥400B) and broader enterprise clientele. It outperforms HOUSEI in cloud infrastructure services but lacks HOUSEI's niche focus on media/publishing and cross-border e-commerce solutions. SCSK's scale allows for more aggressive R&D but may limit agility in specialized markets.
  • GungHo Online Entertainment (3765.T): GungHo excels in online gaming and mobile platforms, overlapping with HOUSEI in cloud services but with a stronger consumer focus. Its gaming expertise gives it an edge in high-performance computing, while HOUSEI maintains an advantage in B2B IT solutions. GungHo's larger revenue base (~¥100B) provides more stability but less specialization in enterprise IT.
  • Digital Garage (3906.T): Digital Garage focuses on internet infrastructure and fintech, competing with HOUSEI in cloud and AI services. It has stronger partnerships with global tech firms but lacks HOUSEI's depth in traditional IT consulting. Digital Garage's fintech emphasis differentiates it but may limit appeal to HOUSEI's core media/publishing clients.
  • Media Do Co Ltd (3678.T): Media Do specializes in digital content distribution, directly competing with HOUSEI's media/publishing solutions. It has superior scale in e-book platforms but lacks HOUSEI's broader IT service portfolio. Media Do's content-centric model is more vertically integrated but less diversified than HOUSEI's approach.
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