IIJ Q2 21 Results Reaction: Setting the Pace for Industry to Follow

IIJ (Buy) - Q3 21 Results Reaction: Core Business Drives Record Quarter

IIJ (Buy) - Q4 21 Results Reaction: Reliable Growth and Margin Expansion

Internet Initiative Japan Q4 20 Results – Blowout Quarter / Guidance and Massive Dividend Hike

Internet Initiative Japan - Potential Growth Remains Under-Appreciated (Initiation of Coverage)

Internet Initiative Japan (Buy) Well-Positioned for Corporate IT Spend, Raising Forecasts/Valuation

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

Internet Initiative Japan / Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/internet-initiative-japan" target="_blank" data-smartkarma-citation="entities:10444:1" rel="noopener">Internet Initiative Japan (3774 JP)</a> posted Q1 21 results that were slightly light versus consensus revenue but again well ahead on profitability.  Improvements in gross margin are the main driver as higher sales fall on a fixed cost base. As a result, operating income more than doubled YoY and net income tripled, accelerating on the already high growth rates seen last year and are on track to exceed full-year targets. These results highlight how IIJ, with 88% of sales (FY20) from business users, is well positioned to benefit from ramping corporate IT investment and we remain at Buy.  </p>

Internet Initiative Japan (3774 JP) posted Q1 21 results that were slightly light versus consensus revenue but again well ahead on profitability.  Improvements in gross margin are the main driver as higher sales fall on a fixed cost base. As a result, operating income more than doubled YoY and net income tripled, accelerating on the already high growth rates seen last year and are on track to exceed full-year targets. These results highlight how IIJ, with 88% of sales (FY20) from business users, is well positioned to benefit from ramping corporate IT investment and we remain at Buy.  

IIJ (Buy) - Q1 21 Results Reaction: Margin Expansion Accelerates