Reported Earnings • Jun 23
Full year 2026 earnings released: EPS: JP¥148 (vs JP¥150 in FY 2025) Full year 2026 results: EPS: JP¥148 (down from JP¥150 in FY 2025). Revenue: JP¥65.5b (up 8.1% from FY 2025). Net income: JP¥6.72b (down 22% from FY 2025). Profit margin: 10% (down from 14% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Jun 13
Mitsui Matsushima Holdings Co., Ltd. to Report Q1, 2027 Results on Aug 07, 2026 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 15
Full year 2026 earnings released: EPS: JP¥148 (vs JP¥150 in FY 2025) Full year 2026 results: EPS: JP¥148 (down from JP¥150 in FY 2025). Revenue: JP¥65.5b (up 8.1% from FY 2025). Net income: JP¥6.72b (down 22% from FY 2025). Profit margin: 10% (down from 14% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Announcement • May 13
Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 19, 2026 Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 19, 2026. Announcement • May 09
Mitsui Matsushima Holdings Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Mitsui Matsushima Holdings Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Buy Or Sell Opportunity • Apr 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to JP¥1,383. The fair value is estimated to be JP¥1,744, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 34%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥41.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 02 June 2026. Payout ratio is a comfortable 7.4% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Buy Or Sell Opportunity • Mar 19
Now 22% undervalued Over the last 90 days, the stock has risen 1.8% to JP¥1,395. The fair value is estimated to be JP¥1,799, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 34%. Buy Or Sell Opportunity • Mar 04
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,380. The fair value is estimated to be JP¥1,779, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 34%. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥51.13 (vs JP¥40.07 in 3Q 2025) Third quarter 2026 results: EPS: JP¥51.13. Revenue: JP¥17.3b (up 7.6% from 3Q 2025). Net income: JP¥2.04b (down 9.9% from 3Q 2025). Profit margin: 12% (down from 14% in 3Q 2025). Announcement • Feb 14
Mitsui Matsushima Holdings Co., Ltd. Announces Board and Committee Retirements Mitsui Matsushima Holdings Co., Ltd. announced retirement of Shinichiro Kushima as Representative Director and Chairman on June 19, 2026 (expected date of the 170th Annual General Meeting of Shareholders). Mr. Kushima will be appointed as an advisor to the Company after retiring from his current position. The company also announced retirement of Takashige Araki as Director (Audit & Supervisory Committee Member) (External). The company also announced retirement of Toshiya Kobayashi as Executive Officer on June 19, 2026. Announcement • Dec 17
Mitsui Matsushima Holdings Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Declared Dividend • Dec 06
First half dividend of JP¥41.00 announced Shareholders will receive a dividend of JP¥41.00. Ex-date: 30th March 2026 Payment date: 2nd June 2026 Dividend yield will be 11%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 45% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥16.5b (up 5.3% from 2Q 2025). Net income: JP¥2.34b (up 55% from 2Q 2025). Profit margin: 14% (up from 9.6% in 2Q 2025). New Risk • Nov 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 10% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥115 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 15% and the cash payout ratio is 80%. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.3%). Announcement • Sep 12
Mitsui Matsushima Holdings Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Buy Or Sell Opportunity • Sep 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to JP¥6,530. The fair value is estimated to be JP¥5,339, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Buy Or Sell Opportunity • Aug 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 57% to JP¥6,410. The fair value is estimated to be JP¥5,317, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20%. Declared Dividend • Jul 09
Final dividend increased to JP¥115 Dividend of JP¥115 is 130% higher than last year. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2025 earnings released: EPS: JP¥750 (vs JP¥1,209 in FY 2024) Full year 2025 results: EPS: JP¥750 (down from JP¥1,209 in FY 2024). Revenue: JP¥60.6b (down 22% from FY 2024). Net income: JP¥8.65b (down 43% from FY 2024). Profit margin: 14% (down from 20% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Jun 14
Mitsui Matsushima Holdings Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 15
Full year 2025 earnings released: EPS: JP¥750 (vs JP¥1,209 in FY 2024) Full year 2025 results: EPS: JP¥750 (down from JP¥1,209 in FY 2024). Revenue: JP¥60.6b (down 22% from FY 2024). Net income: JP¥8.65b (down 43% from FY 2024). Profit margin: 14% (down from 20% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • May 15
Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces an Equity Buyback for 3,500,000 shares, representing 31.33% for ¥20,000 million. Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares, representing 31.33% of its issued share capital, for ¥20,000 million. The purpose of the program is to implement capital policies flexibly in response to changes in market trends and the business environment in order to achieve a PBR of 1x or above early. The program will expire on June 1, 2026. As of April 30, 2025, the company had 11,170,999 shares in issue (excluding treasury stock) and 1,893,401 shares in treasury. New Risk • May 14
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 8.4% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (7.2% net profit margin). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥4,995, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 85% over the past three years. Announcement • May 13
Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 20, 2025 Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,900, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 108% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 03 June 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.3%). Announcement • Mar 14
Mitsui Matsushima Holdings Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Mitsui Matsushima Holdings Co., Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 13, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥200 (vs JP¥294 in 3Q 2024) Third quarter 2025 results: EPS: JP¥200 (down from JP¥294 in 3Q 2024). Revenue: JP¥16.1b (down 8.5% from 3Q 2024). Net income: JP¥2.27b (down 38% from 3Q 2024). Profit margin: 14% (down from 21% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 15
Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces an Equity Buyback for 300,000 shares, representing 2.67% for ¥1,000 million. Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 2.67% of its share capital, for ¥1,000 million. The purpose of the program is to enhance shareholder returns and implementing a flexible capital policy and utilizing it in M&A. The program will expire on August 18, 2025. As of January 31, 2025, the company had 11,215,699 shares in issue (excluding treasury stock) and 1,848,701 shares in treasury. Announcement • Feb 14
Mitsui Matsushima Holdings Co., Ltd. Increases Year-End Dividend Forecast for the Fiscal Year Ending March 31, 2025 Mitsui Matsushima Holdings Co., Ltd. at its Board of Directors meeting held on February 14, 2025, has decided increase the forecast of dividend per share for the fiscal year ending March 31, 2025 by JPY 30 per share from JPY 100 per share to JPY 130 per share. For the year-end, the company expects to pay cash dividend of JPY 80.00 against previous dividend guidance of JPY 50.00 per share. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥3,895, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 10x in the Trade Distributors industry in Japan. Total returns to shareholders of 146% over the past three years. Announcement • Dec 10
Mitsui Matsushima Holdings Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Declared Dividend • Dec 06
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th March 2025 Payment date: 3rd June 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥129 (vs JP¥381 in 2Q 2024) Second quarter 2025 results: EPS: JP¥129 (down from JP¥381 in 2Q 2024). Revenue: JP¥15.7b (down 6.7% from 2Q 2024). Net income: JP¥1.51b (down 69% from 2Q 2024). Profit margin: 9.6% (down from 29% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 08
Mitsui Matsushima Holdings Co., Ltd. Announces Interim Dividend, Effective Date Is December 5, 2024 Mitsui Matsushima Holdings Co., Ltd. announced dividend to pay interim dividends of JPY 50.00 surplus with a record date of September 30, 2024. Effective date is December 5, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.3%). Announcement • Sep 04
Mitsui Matsushima Holdings Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥116 (vs JP¥547 in 1Q 2024) First quarter 2025 results: EPS: JP¥116 (down from JP¥547 in 1Q 2024). Revenue: JP¥13.5b (down 41% from 1Q 2024). Net income: JP¥1.37b (down 81% from 1Q 2024). Profit margin: 10% (down from 31% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 58% per year and the company’s share price has also increased by 58% per year. Announcement • Aug 11
Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces an Equity Buyback for 600,000 shares, representing 5.09% for ¥3,000 million. Mitsui Matsushima Holdings Co., Ltd. (TSE:1518) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 5.09% of its share capital, for ¥3,000 million. The purpose of the program is to enhance shareholder returns and implementing a flexible capital policy and utilizing it in M&A. The program will expire on November 18, 2024. As of July 31, 2024, the company had 11,784,914 shares in issue (excluding treasury stock) and 1,279,486 shares in treasury. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥4,035, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 386% over the past three years. Declared Dividend • Jul 11
Final dividend increased to JP¥50.00 Dividend of JP¥50.00 is 25% higher than last year. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 49% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Jun 29
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent External Director Shota Wakiyama was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥1,209 (vs JP¥1,768 in FY 2023) Full year 2024 results: EPS: JP¥1,209 (down from JP¥1,768 in FY 2023). Revenue: JP¥77.5b (down 3.2% from FY 2023). Net income: JP¥15.1b (down 34% from FY 2023). Profit margin: 20% (down from 29% in FY 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Announcement • Jun 17
Mitsui Matsushima Holdings Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • May 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 20% Last year net profit margin: 29% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (20% net profit margin). Announcement • May 15
Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 21, 2024 Mitsui Matsushima Holdings Co., Ltd., Annual General Meeting, Jun 21, 2024. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,655, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 11x in the Trade Distributors industry in Japan. Total returns to shareholders of 345% over the past three years. Announcement • Mar 21
Mitsui Matsushima Holdings Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Mitsui Matsushima Holdings Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 30 May 2024. Payout ratio is a comfortable 5.0% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥294 (vs JP¥732 in 3Q 2023) Third quarter 2024 results: EPS: JP¥294 (down from JP¥732 in 3Q 2023). Revenue: JP¥17.6b (down 22% from 3Q 2023). Net income: JP¥3.63b (down 62% from 3Q 2023). Profit margin: 21% (down from 42% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Announcement • Dec 28
Mitsui Matsushima Holdings Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Mitsui Matsushima 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¥381 (vs JP¥479 in 2Q 2023) Second quarter 2024 results: EPS: JP¥381 (down from JP¥479 in 2Q 2023). Revenue: JP¥16.8b (down 13% from 2Q 2023). Net income: JP¥4.82b (down 23% from 2Q 2023). Profit margin: 29% (down from 32% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 3.7% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.8%). Announcement • Aug 30
Mitsui Matsushima Holdings Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥547 (vs JP¥177 in 1Q 2023) First quarter 2024 results: EPS: JP¥547 (up from JP¥177 in 1Q 2023). Revenue: JP¥22.8b (up 61% from 1Q 2023). Net income: JP¥7.08b (up 208% from 1Q 2023). Profit margin: 31% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Mitsui Matsushima Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 10, 2023 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • Jun 21
Full year 2023 earnings released: EPS: JP¥1,768 (vs JP¥415 in FY 2022) Full year 2023 results: EPS: JP¥1,768 (up from JP¥415 in FY 2022). Revenue: JP¥80.0b (up 72% from FY 2022). Net income: JP¥23.0b (up 326% from FY 2022). Profit margin: 29% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥1,768 (vs JP¥415 in FY 2022) Full year 2023 results: EPS: JP¥1,768 (up from JP¥415 in FY 2022). Revenue: JP¥80.0b (up 72% from FY 2022). Net income: JP¥23.0b (up 326% from FY 2022). Profit margin: 29% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥240 per share at 1.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 7.7% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥3,820, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 304% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥732 (vs JP¥95.93 in 3Q 2022) Third quarter 2023 results: EPS: JP¥732 (up from JP¥95.93 in 3Q 2022). Revenue: JP¥22.6b (up 84% from 3Q 2022). Net income: JP¥9.51b (up JP¥8.26b from 3Q 2022). Profit margin: 42% (up from 10% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • Nov 27
Mitsui Matsushima Holdings Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. Chairman Shinichiro Kushima is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥479 (vs JP¥76.95 in 2Q 2022) Second quarter 2023 results: EPS: JP¥479 (up from JP¥76.95 in 2Q 2022). Revenue: JP¥19.2b (up 78% from 2Q 2022). Net income: JP¥6.22b (up JP¥5.22b from 2Q 2022). Profit margin: 32% (up from 9.3% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorated over the past week After last week's 23% share price decline to JP¥2,370, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 8x in the Trade Distributors industry in Japan. Total returns to shareholders of 118% over the past three years. Announcement • Sep 01
Mitsui Matsushima Holdings Co., Ltd. to Report Q2, 2023 Results on Nov 11, 2022 Mitsui Matsushima Holdings Co., Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥3,825, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Trade Distributors industry in Japan. Total returns to shareholders of 278% over the past three years. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥177 (vs JP¥65.51 in 1Q 2022) First quarter 2023 results: EPS: JP¥177 (up from JP¥65.51 in 1Q 2022). Revenue: JP¥14.2b (up 34% from 1Q 2022). Net income: JP¥2.30b (up 170% from 1Q 2022). Profit margin: 16% (up from 8.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥3,420, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 8x in the Trade Distributors industry in Japan. Total returns to shareholders of 205% over the past three years. Reported Earnings • Jun 22
Full year 2022 earnings released: EPS: JP¥415 (vs JP¥233 loss in FY 2021) Full year 2022 results: EPS: JP¥415 (up from JP¥233 loss in FY 2021). Revenue: JP¥46.6b (down 19% from FY 2021). Net income: JP¥5.40b (up JP¥8.43b from FY 2021). Profit margin: 12% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 61% share price gain to JP¥3,125, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Trade Distributors industry in Japan. Total returns to shareholders of 195% over the past three years. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥415 (vs JP¥233 loss in FY 2021) Full year 2022 results: EPS: JP¥415 (up from JP¥233 loss in FY 2021). Revenue: JP¥46.6b (down 19% from FY 2021). Net income: JP¥5.40b (up JP¥8.43b from FY 2021). Profit margin: 12% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. 
