Added to YB: 2026-09-16
Pitch date: 2026-09-13
4379.T [neutral]
Photosynth inc.
Author Info
Asian Century Stocks is a former buy-side investor in Asia that now focuses on researching value stocks in Asia and sharing them in his newsletter. Sign up for the newsletter.
Company Info
Photosynth inc. researches and develops IoT-related devices in Japan. It develops and sells cloud-based IoT services under the Akerun brand, such as Akerun Access Control System; Akerun.
Market Cap
JPY 6.6B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.27
P/E
22.03
EV/Sales
1.23
Sector
Commercial Services and Supplies
Category
growth
Deep-dive: Photosynth (4379 JP)
4379.T (overview): Photosynth, Japan’s largest corporate smart-lock provider with nearly 6,000 customers, is profitable and trades at 1.1x forward EV/sales after falling more than 70% from its IPO price. Hikari Tsushin’s 15%+ stake and reseller access to 1.3 million customers offer upside, but the revenue impact remains unknown, while a 6.8% operating margin, questionable adjusted EBITDA guidance and loss-making non-core initiatives temper the case.
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