Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,836, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Professional Services industry in Japan. Total loss to shareholders of 2.9% over the past three years. Reported Earnings • May 18
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥142 (down from JP¥155 in FY 2025). Revenue: JP¥50.3b (down 1.6% from FY 2025). Net income: JP¥2.76b (down 9.7% from FY 2025). Profit margin: 5.5% (down from 6.0% in FY 2025). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.5%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year. Announcement • May 17
WDB Holdings Co., Ltd. to Report Q1, 2027 Results on Aug 07, 2026 WDB Holdings Co., Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 Buy Or Sell Opportunity • May 15
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to JP¥1,716. The fair value is estimated to be JP¥1,339, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has declined by 3.9%. Revenue is forecast to grow by 3.4% in 2 years. Earnings are forecast to decline by 1.8% in the next 2 years. Announcement • May 14
WDB Holdings Co., Ltd., Annual General Meeting, Jun 25, 2026 WDB Holdings Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
WDB Holdings Co., Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 WDB Holdings Co., Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥37.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥40.29 (vs JP¥47.46 in 3Q 2025) Third quarter 2026 results: EPS: JP¥40.29 (down from JP¥47.46 in 3Q 2025). Revenue: JP¥12.7b (down 3.6% from 3Q 2025). Net income: JP¥779.0m (down 16% from 3Q 2025). Profit margin: 6.1% (down from 7.1% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Declared Dividend • Dec 05
First half dividend of JP¥37.50 announced Shareholders will receive a dividend of JP¥37.50. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 10
WDB Holdings Co., Ltd. (TSE:2475) announces an Equity Buyback for 456,000 shares, representing 2.32% for ¥800 million. WDB Holdings Co., Ltd. (TSE:2475) announces a share repurchase program. Under the program, the company will repurchase up to 456,000 shares, representing 2.32% of its issued share capital (excluding treasury stock), for a total purchase price of ¥800 million. The shares will be repurchased at a price of ¥1,592 per share. The purpose of the program is to enhance capital efficiency and to enable
flexible capital policies in response to changes in the business environment. As of September 30, 2025, the company has 19,638,966 issued shares (excluding treasury stock) and 421,034 treasury shares. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥31.53 (vs JP¥39.31 in 2Q 2025) Second quarter 2026 results: EPS: JP¥31.53 (down from JP¥39.31 in 2Q 2025). Revenue: JP¥12.4b (down 2.5% from 2Q 2025). Net income: JP¥619.3m (down 20% from 2Q 2025). Profit margin: 5.0% (down from 6.1% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Announcement • Nov 08
WDB Holdings Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 WDB Holdings Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥43.79 (vs JP¥28.11 in 1Q 2025) First quarter 2026 results: EPS: JP¥43.79 (up from JP¥28.11 in 1Q 2025). Revenue: JP¥13.0b (flat on 1Q 2025). Net income: JP¥860.0m (up 56% from 1Q 2025). Profit margin: 6.6% (up from 4.3% in 1Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Aug 09
WDB Holdings Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 WDB Holdings Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.8%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jul 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (104% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Jun 30
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥155 (down from JP¥181 in FY 2024). Revenue: JP¥51.1b (up 3.7% from FY 2024). Net income: JP¥3.05b (down 14% from FY 2024). Profit margin: 6.0% (down from 7.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • May 19
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥155 (down from JP¥181 in FY 2024). Revenue: JP¥51.1b (up 3.7% from FY 2024). Net income: JP¥3.05b (down 14% from FY 2024). Profit margin: 6.0% (down from 7.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Announcement • May 15
WDB Holdings Co., Ltd. to Report Fiscal Year 2025 Results on Aug 08, 2025 WDB Holdings Co., Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2025 Announcement • May 14
WDB Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025 WDB Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,159, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Professional Services industry in Japan. Total returns to shareholders of 3.1% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥36.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). Announcement • Feb 10
WDB Holdings Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 WDB Holdings Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥47.46 (vs JP¥56.98 in 3Q 2024) Third quarter 2025 results: EPS: JP¥47.46 (down from JP¥56.98 in 3Q 2024). Revenue: JP¥13.2b (up 4.5% from 3Q 2024). Net income: JP¥932.0m (down 17% from 3Q 2024). Profit margin: 7.1% (down from 8.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Declared Dividend • Dec 03
First half dividend of JP¥36.50 announced Shareholders will receive a dividend of JP¥36.50. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥39.31 (vs JP¥43.69 in 2Q 2024) Second quarter 2025 results: EPS: JP¥39.31 (down from JP¥43.69 in 2Q 2024). Revenue: JP¥12.7b (up 4.5% from 2Q 2024). Net income: JP¥772.0m (down 10.0% from 2Q 2024). Profit margin: 6.1% (down from 7.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Nov 09
WDB Holdings Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 WDB Holdings Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.0%). Declared Dividend • Aug 13
Dividend of JP¥24.00 announced Shareholders will receive a dividend of JP¥24.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥28.11 (vs JP¥31.88 in 1Q 2024) First quarter 2025 results: EPS: JP¥28.11 (down from JP¥31.88 in 1Q 2024). Revenue: JP¥12.9b (up 3.4% from 1Q 2024). Net income: JP¥552.0m (down 12% from 1Q 2024). Profit margin: 4.3% (down from 5.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Aug 10
WDB Holdings Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 WDB Holdings Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,482, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Professional Services industry in Japan. Total loss to shareholders of 47% over the past three years. Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥186 to JP¥163 per share. Revenue forecast steady at JP¥51.5b. Net income forecast to shrink 9.8% next year vs 14% growth forecast for Professional Services industry in Japan . Consensus price target down from JP¥3,300 to JP¥2,800. Share price was steady at JP¥1,750 over the past week. Price Target Changed • Jun 05
Price target decreased by 18% to JP¥2,800 Down from JP¥3,400, the current price target is provided by 1 analyst. New target price is 60% above last closing price of JP¥1,753. Stock is down 20% over the past year. The company is forecast to post earnings per share of JP¥163 for next year compared to JP¥181 last year. Reported Earnings • May 18
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: JP¥181 (up from JP¥180 in FY 2023). Revenue: JP¥49.3b (up 3.6% from FY 2023). Net income: JP¥3.55b (flat on FY 2023). Profit margin: 7.2% (down from 7.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Announcement • May 17
WDB Holdings Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 WDB Holdings Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • May 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,819, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Professional Services industry in Japan. Total loss to shareholders of 21% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥43.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.1%). Announcement • Mar 16
WDB Holdings Co., Ltd. Announces the Resignation of Shuji Kondo as Managing Director, Effective from March 31, 2024 WDB Holdings Co., Ltd. announced the resignation of Shuji Kondo as Managing Director, effective from March 31, 2024. Reason for resignation: This is due to personal circumstances. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥56.98 (vs JP¥44.07 in 3Q 2023) Third quarter 2024 results: EPS: JP¥56.98 (up from JP¥44.07 in 3Q 2023). Revenue: JP¥12.6b (up 5.1% from 3Q 2023). Net income: JP¥1.12b (up 29% from 3Q 2023). Profit margin: 8.9% (up from 7.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Nov 13
WDB Holdings Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 WDB Holdings Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥43.69 (vs JP¥40.78 in 2Q 2023) Second quarter 2024 results: EPS: JP¥43.69 (up from JP¥40.78 in 2Q 2023). Revenue: JP¥12.2b (up 2.8% from 2Q 2023). Net income: JP¥858.0m (up 6.6% from 2Q 2023). Profit margin: 7.0% (up from 6.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥29.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.3%). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥31.88 (vs JP¥45.19 in 1Q 2023) First quarter 2024 results: EPS: JP¥31.88 (down from JP¥45.19 in 1Q 2023). Revenue: JP¥12.5b (up 5.1% from 1Q 2023). Net income: JP¥626.0m (down 30% from 1Q 2023). Profit margin: 5.0% (down from 7.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 06
WDB Holdings Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 WDB Holdings Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Announcement • May 19
WDB Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 04, 2023 WDB Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥180 (down from JP¥211 in FY 2022). Revenue: JP¥47.6b (up 1.6% from FY 2022). Net income: JP¥3.54b (down 15% from FY 2022). Profit margin: 7.4% (down from 8.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.8%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥31.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥44.07 (vs JP¥56.18 in 3Q 2022) Third quarter 2023 results: EPS: JP¥44.07 (down from JP¥56.18 in 3Q 2022). Revenue: JP¥12.0b (flat on 3Q 2022). Net income: JP¥867.0m (down 22% from 3Q 2022). Profit margin: 7.2% (down from 9.2% in 3Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥40.78 (vs JP¥49.04 in 2Q 2022) Second quarter 2023 results: EPS: JP¥40.78 (down from JP¥49.04 in 2Q 2022). Revenue: JP¥11.9b (up 2.8% from 2Q 2022). Net income: JP¥805.0m (down 17% from 2Q 2022). Profit margin: 6.8% (down from 8.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 8 highly experienced directors. No independent directors (8 non-independent directors). Head of Corporate Planning & Director Kinya Nakaoka was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Nov 13
WDB Holdings Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 WDB Holdings Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥40.78 (vs JP¥49.04 in 2Q 2022) Second quarter 2023 results: EPS: JP¥40.78 (down from JP¥49.04 in 2Q 2022). Revenue: JP¥11.9b (up 2.8% from 2Q 2022). Net income: JP¥805.0m (down 17% from 2Q 2022). Profit margin: 6.8% (down from 8.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 11
WDB Holdings Co., Ltd. (TSE:2475) announces an Equity Buyback for 100,000 shares, representing 0.51% for ¥300 million. WDB Holdings Co., Ltd. (TSE:2475) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.51% of its issued share capital (excluding treasury stock), for a total purchase price of ¥300 million. The shares will be repurchased at a price of ¥2,583 per share. The purpose of the program is to improve capital efficiency and implement agile capital policies in response to changes in the business environment. As of September 30, 2022, the company has 19,739,091 issued shares (excluding treasury stock) and 320,909 treasury shares. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). Announcement • Aug 07
WDB Holdings Co., Ltd. to Report Q2, 2023 Results on Nov 11, 2022 WDB Holdings Co., Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥45.19 (vs JP¥54.21 in 1Q 2022) First quarter 2023 results: EPS: JP¥45.19 (down from JP¥54.21 in 1Q 2022). Revenue: JP¥11.9b (up 1.3% from 1Q 2022). Net income: JP¥892.0m (down 17% from 1Q 2022). Profit margin: 7.5% (down from 9.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.9%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 28
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥48.6b to JP¥47.9b. EPS estimate also fell from JP¥228 per share to JP¥167 per share. Net income forecast to shrink 21% next year vs 12% growth forecast for Professional Services industry in Japan . Consensus price target down from JP¥4,300 to JP¥3,800. Share price fell 3.8% to JP¥2,231 over the past week. Reported Earnings • May 19
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥211 (up from JP¥172 in FY 2021). Revenue: JP¥46.9b (up 6.2% from FY 2021). Net income: JP¥4.17b (up 23% from FY 2021). Profit margin: 8.9% (up from 7.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 3.7%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 18
WDB Holdings Co., Ltd., Annual General Meeting, Jun 23, 2022 WDB Holdings Co., Ltd., Annual General Meeting, Jun 23, 2022. Announcement • May 15
WDB Holdings Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 WDB Holdings Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Price Target Changed • Apr 27
Price target increased to JP¥4,300 Up from JP¥3,200, the current price target is provided by 1 analyst. New target price is 57% above last closing price of JP¥2,733. Stock is up 17% over the past year. The company is forecast to post earnings per share of JP¥213 for next year compared to JP¥172 last year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 8 highly experienced directors. No independent directors (8 non-independent directors). Head of Corporate Planning & Director Kinya Nakaoka was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). Reported Earnings • Feb 07
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥56.18 (up from JP¥48.44 in 3Q 2021). Revenue: JP¥12.1b (up 6.8% from 3Q 2021). Net income: JP¥1.11b (up 15% from 3Q 2021). Profit margin: 9.2% (up from 8.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 3.3%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 05
WDB Holdings Co., Ltd. to Report Q4, 2022 Results on May 13, 2022 WDB Holdings Co., Ltd. announced that they will report Q4, 2022 results on May 13, 2022 Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥49.04 (vs JP¥41.28 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥11.5b (up 7.1% from 2Q 2021). Net income: JP¥968.0m (up 18% from 2Q 2021). Profit margin: 8.4% (up from 7.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥19.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (0.6%). Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥172 (vs JP¥157 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥44.1b (up 2.4% from FY 2020). Net income: JP¥3.41b (up 9.3% from FY 2020). Profit margin: 7.7% (up from 7.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥22.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (0.7%). Announcement • Mar 04
WDB Holdings Co., Ltd. to Report Fiscal Year 2021 Results on May 14, 2021 WDB Holdings Co., Ltd. announced that they will report fiscal year 2021 results on May 14, 2021 Is New 90 Day High Low • Feb 25
New 90-day low: JP¥2,548 The company is down 13% from its price of JP¥2,945 on 27 November 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 11% over the same period. Price Target Changed • Feb 09
Price target raised to JP¥3,500 Up from JP¥3,100, the current price target is provided by 1 analyst. The new target price is 25% above the current share price of JP¥2,807. As of last close, the stock is up 5.1% over the past year. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥48.44 (vs JP¥39.57 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥11.3b (up 2.8% from 3Q 2020). Net income: JP¥961.0m (up 22% from 3Q 2020). Profit margin: 8.5% (up from 7.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 4.0%, compared to a 5.3% growth forecast for the Professional Services industry in Japan. Is New 90 Day High Low • Jan 21
New 90-day low: JP¥2,560 The company is down 18% from its price of JP¥3,125 on 23 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: JP¥2,648 The company is down 18% from its price of JP¥3,215 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: JP¥2,792 The company is down 1.0% from its price of JP¥2,808 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 9.0% over the same period. Announcement • Nov 07
WDB Holdings Co., Ltd. to Report Q3, 2021 Results on Feb 05, 2021 WDB Holdings Co., Ltd. announced that they will report Q3, 2021 results on Feb 05, 2021 
