I-Net Corporation (9600) AI Stock Analysis

• Market Cap: ¥38.27B
• Dividend Yield: 2.27%
• Average Volume (3M): 272.58K
• Price to Earnings (P/E): 18.9
• Beta (1Y): 1.09
• Revenue Growth: 7.50%
• EPS Growth: -3.67%
• Country: JP
• Employees: 1,651
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 36.20
• Shares Outstanding: 15,475,524
• 10 Day Avg. Volume: 624,390
• 30 Day Avg. Volume: 272,583
• PEG Ratio: 1.80
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.74
• P/FCF Ratio: -66.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: ¥2,841.00 ▲(12.92% Upside)

I-Net Corporation's strong financial performance and attractive valuation are key strengths, contributing to a solid overall score. However, technical indicators suggest overbought conditions, which may lead to short-term volatility.

Positive Factors

Revenue Growth

Steady revenue growth reflects strong market demand and effective business strategies, enhancing long-term financial stability and market position.

Profitability

Improved profitability indicates efficient operations and cost management, which can sustain competitive advantages and shareholder value over time.

Balance Sheet Health

A strong balance sheet with a healthy equity ratio provides financial stability and flexibility, supporting long-term growth and investment opportunities.

Negative Factors

Free Cash Flow Fluctuations

Inconsistent free cash flow can hinder the company's ability to invest in growth opportunities and manage financial obligations, affecting long-term sustainability.

Operating Efficiency

Decreasing EBIT margins may indicate challenges in maintaining operational efficiency, which could impact profitability and competitive positioning over time.

Debt Levels

Rising debt levels can increase financial risk and limit the company's ability to invest in growth, potentially impacting long-term financial health.

I-Net Corporation Business Overview & Revenue Model

Company Description

I-Net Corp. provides information processing and system development services; and sells system equipment. The company offers data center, cloud, contract calculation / settlement processing, and BPO / call center services, as well as printing / mailing services to corporations, financial institutions, SS, convenience stores / supermarkets, space development, manufacturing, construction / architecture, transportation infrastructure, and healthcare fields. I-Net Corp. was incorporation in 1971 and is headquartered in Yokohama, Japan.

How the Company Makes Money

I-Net Corporation generates revenue through multiple streams, primarily by offering subscription-based broadband internet services to residential and business customers. This includes tiered pricing models based on speed and data usage. Additionally, the company earns revenue from its cloud computing services, which are charged based on storage capacity and usage levels. Enterprise communication solutions, such as VoIP services and collaboration tools, also contribute significantly to its income. Strategic partnerships with technology providers and local governments enhance their service offerings and expand their customer base, further bolstering revenue growth.

I-Net Corporation Financial Statement Overview

Summary

I-Net Corporation exhibits strong revenue growth and profitability, supported by a stable balance sheet with manageable leverage. While the company demonstrates effective cash generation, fluctuations in free cash flow highlight potential areas for improvement in cash management.

Income Statement

I-Net Corporation has demonstrated consistent revenue growth, with a notable increase from ¥31.1 billion in 2020 to ¥38.9 billion in 2025. The gross profit margin remains stable, indicating efficient cost management. However, the EBIT margin has slightly decreased over the years, suggesting potential pressure on operating efficiency. The net profit margin has improved, reflecting effective cost control and profitability enhancement.

Balance Sheet

The company's balance sheet shows a healthy equity ratio, with stockholders' equity consistently covering a significant portion of total assets. The debt-to-equity ratio remains manageable, although there has been an increase in total debt over the years. Return on equity has shown improvement, indicating effective utilization of equity capital.

Cash Flow

I-Net Corporation's cash flow statement reveals fluctuations in free cash flow, with a significant drop in 2025. The operating cash flow to net income ratio is strong, suggesting good cash generation relative to net income. However, the free cash flow to net income ratio has been inconsistent, indicating potential challenges in maintaining free cash flow levels.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.88B	38.99B	37.76B	34.99B	31.17B	30.02B
Gross Profit	8.65B	8.26B	8.25B	7.17B	7.15B	6.80B
EBITDA	5.90B	5.66B	5.31B	3.98B	4.46B	4.03B
Net Income	2.41B	2.26B	2.20B	1.34B	1.69B	1.49B
Balance Sheet
Total Assets	36.45B	37.06B	37.61B	32.63B	33.50B	32.06B
Cash, Cash Equivalents and Short-Term Investments	4.91B	4.74B	5.28B	2.31B	3.68B	4.03B
Total Debt	8.57B	9.93B	7.62B	8.51B	9.07B	10.08B
Total Liabilities	17.12B	17.75B	17.51B	15.05B	16.20B	15.84B
Stockholders Equity	19.33B	19.31B	20.10B	17.58B	17.30B	16.21B
Cash Flow
Free Cash Flow	0.00	-433.38M	5.03B	85.50M	1.91B	694.95M
Operating Cash Flow	0.00	2.49B	6.67B	2.24B	3.72B	3.42B
Investing Cash Flow	0.00	-2.57B	-1.79B	-2.12B	-2.19B	-2.93B
Financing Cash Flow	0.00	-458.12M	-1.90B	-1.50B	-1.87B	454.66M

I-Net Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2516.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9600, the sentiment is Positive. The current price of 2516 is above the 20-day moving average (MA) of 2513.95, below the 50-day MA of 2519.54, and above the 200-day MA of 2018.43, indicating a neutral trend. The MACD of 10.42 indicates Positive momentum. The RSI at 70.11 is Negative, neither overbought nor oversold. The STOCH value of 30.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9600.

I-Net Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9600	75 Outperform	¥38.27B	18.92	―	2.27%	7.50%	-3.67%
3393	74 Outperform	¥27.68B	13.99	―	4.36%	12.32%	10.42%
2359	74 Outperform	¥28.88B	12.01	―	2.93%	2.11%	5.55%
3655	73 Outperform	¥63.26B	77.13	―	0.28%	8.64%	-23.20%
9640	73 Outperform	¥36.25B	23.53	―	3.99%	1.27%	26.79%
4072	71 Outperform	¥38.98B	11.90	―	2.22%	9.57%	315.38%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

I-Net Corporation Corporate Events

I-NET Corp. Announces Extraordinary Shareholders’ Meeting Amid Share Consolidation Plans

I-NET Corp. has announced the setting of a record date for an extraordinary general meeting of shareholders scheduled for late January 2026. This meeting is crucial as it will address the consolidation of company shares and amendments to the articles of incorporation following a tender offer by OFI ・01 Corporation. The outcome of this meeting could significantly impact the company’s share structure and governance, with the Offeror intending to support the proposed resolutions.

I-NET Corp. Announces Successful Tender Offer and Change in Shareholders

I-NET Corp. announced the successful completion of a tender offer for its common shares by OFI ・01 Corporation, which will result in a change in the company’s parent companies and largest shareholder. As a result of the tender offer, OFI ・01 Corporation will acquire more than 50% of I-NET Corp.’s voting rights, making it the new parent company and largest shareholder. This change will also make OPI2002 Investment Partners and ORIX Corporation indirect parent companies of I-NET Corp.

I-NET Corp Reports Mixed Financial Results for H1 FY2026

I-NET Corporation reported a 7.9% increase in net sales for the first half of the fiscal year ending March 31, 2026, reaching 20,373 million yen. Despite this growth, the profit attributable to owners of the parent decreased by 23.3% to 774 million yen. The company also announced a slight increase in its interim dividend, reflecting a stable financial position with a 53.0% equity to total assets ratio. These results indicate a mixed performance, with strong sales growth but challenges in profitability, potentially impacting stakeholder confidence.

I-NET Corp. Revises Dividend Forecast and Abolishes Shareholder Benefits

I-NET Corp. announced a revision of its year-end dividend forecast for the fiscal year ending March 2026, deciding not to distribute any dividends. This decision is contingent on the completion of a tender offer by OFI ・01 Corporation, which plans to make I-NET a wholly-owned subsidiary and delist its shares. Additionally, the company will abolish its shareholder benefit program to ensure fairness among shareholders participating in the tender offer.

I-NET Corp. Approves Tender Offer by OFI・01 Corporation

I-NET Corp. has announced its board’s approval of a tender offer by OFI・01 Corporation to acquire all of its common shares, with plans to delist the company and make it a wholly-owned subsidiary. This move, supported by ORIX Corporation, is expected to consolidate I-NET’s operations under OFI・01, impacting shareholders who are recommended to tender their shares.