Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Japan Weekly | Stocks Sink; Activists Lift Stakes in Rinnai, Topcon, Kureha

Money Forward (3394) | A Growth Stock for 2024

Money Forward (3394) | Looking Forward - Q4 Preview

Money Forward (3994) | Costs Under Control

Money Forward (3994) | Corporate ARR +55% YoY

Equity Bottom-Up

<ul>
<li>Money Forward's Corporate SaaS business is thriving, with +44% year-over-year growth in ARR, a 139,000-strong customer base, and a healthy CAC-to-LTV ratio of 3.7x.</li>
<li>Despite strong fundamentals, the stock's 20% decline is attributed to market fixation on quarterly earnings and concerns about rising interest rates.</li>
<li>The company's untapped potential lies in the mid-market segment, where cross-selling opportunities across 18 paid products could significantly boost ARPA, tapping into a TAM estimated at $15 billion.</li>
</ul>


Money Forward's Corporate SaaS business is thriving, with +44% year-over-year growth in ARR, a 139,000-strong customer base, and a healthy CAC-to-LTV ratio of 3.7x.
Despite strong fundamentals, the stock's 20% decline is attributed to market fixation on quarterly earnings and concerns about rising interest rates.
The company's untapped potential lies in the mid-market segment, where cross-selling opportunities across 18 paid products could significantly boost ARPA, tapping into a TAM estimated at $15 billion.


Money Forward (3994) | A Deep Dive into the Corporate Business