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

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

IIJ (Buy) - Q1 22 Results Reaction: Solid Results and Share Split

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

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

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

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

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 Q2 results that blew by consensus and Redex expectations fueled by increasing demand for telecom services from enterprises matched by margin improvement from scale economies. That drives a 26% upward revision in management guidance for current year operating income with a corresponding increase in DPS . This is the fourth time in five quarters that management has posted guidance above market expectations and we would view new targets as a minimum for what is achievable. IIJ is the closest we have to a pure play on corporate IT spend in Japan and today’s financial report underscores that yet again. We are raising our target price from ¥4,300 to ¥5,150 and remain at Buy.</p>

Internet Initiative Japan (3774 JP)  posted Q2 results that blew by consensus and Redex expectations fueled by increasing demand for telecom services from enterprises matched by margin improvement from scale economies. That drives a 26% upward revision in management guidance for current year operating income with a corresponding increase in DPS . This is the fourth time in five quarters that management has posted guidance above market expectations and we would view new targets as a minimum for what is achievable. IIJ is the closest we have to a pure play on corporate IT spend in Japan and today’s financial report underscores that yet again. We are raising our target price from ¥4,300 to ¥5,150 and remain at Buy.

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