Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price1.12 USD
Ethical score70.0/100
Our investment reviews on this name
2026-11-06Read Accumulation1.05+6.7% to today ✓Markdown gives way to Accumulation after a 34% slide in 3 weeks
2026-10-15Read Markdown1.58-29.1% to today ✓Markup gives way to Markdown after an 11% slide in 13 days
2026-10-02Read Markup1.78-37.1% to today Accumulation gives way to Markup with volume flow in agreement
2026-09-18Read Accumulation1.77-36.7% to today First review on file: Accumulation with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Micware Co Ltd ADR holds its Distribution at $1.12. Consolidating, no directional conviction, held for 4 days.
As held on the ledger · 2026-11-06
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 4 days
Price at the screen
$1.12
Valuation
10.47 trailing · N/A forward price to earnings
Values screen
FAIL· score 70.0
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
38.76%
Below 33%
Interest-bearing debt is 38.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
41.35%
Below 49%
Money owed to the company is 41.3% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Micware's business is in a permissible area, but its interest-bearing debt is about 39% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today MWC does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Japan and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MWC trades on NASDAQ (the company is based in Japan). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 31.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish.
2026-10-29Markdown$1.53-3.2%Entry 4
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish.
2026-10-15Markdown · changed$1.58-11.2%Entry 3
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral.
2026-10-02Markup · changed$1.78+0.6%Entry 2
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral.
2026-09-18Accumulation$1.77Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.