Reported Earnings • May 20
First quarter 2026 earnings released: EPS: JP¥24.23 (vs JP¥16.58 in 1Q 2025) First quarter 2026 results: EPS: JP¥24.23 (up from JP¥16.58 in 1Q 2025). Revenue: JP¥7.58b (down 34% from 1Q 2025). Net income: JP¥581.0m (up 46% from 1Q 2025). Profit margin: 7.7% (up from 3.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 13% per year. Declared Dividend • Apr 11
Final dividend of JP¥23.00 announced Shareholders will receive a dividend of JP¥23.00. Ex-date: 29th June 2026 Payment date: 24th August 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (181% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 29
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥115 (up from JP¥100.00 in FY 2024). Revenue: JP¥41.8b (down 8.4% from FY 2024). Net income: JP¥2.75b (up 13% from FY 2024). Profit margin: 6.6% (up from 5.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 2.7%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Feb 10
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 159% Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risk Dividend is not well covered by cash flows (159% cash payout ratio). Reported Earnings • Feb 07
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥115 (up from JP¥100.00 in FY 2024). Revenue: JP¥41.8b (down 8.4% from FY 2024). Net income: JP¥2.75b (up 13% from FY 2024). Profit margin: 6.6% (up from 5.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 2.7%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 26, 2026 Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 26, 2026. Announcement • Dec 27
Aoyama Zaisan Networks Company,Limited to Report Fiscal Year 2025 Results on Feb 06, 2026 Aoyama Zaisan Networks Company,Limited announced that they will report fiscal year 2025 results on Feb 06, 2026 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: JP¥48.32 (vs JP¥19.55 in 3Q 2024) Third quarter 2025 results: EPS: JP¥48.32 (up from JP¥19.55 in 3Q 2024). Revenue: JP¥12.0b (up 9.6% from 3Q 2024). Net income: JP¥1.16b (up 143% from 3Q 2024). Profit margin: 9.7% (up from 4.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 25% per year. Declared Dividend • Aug 23
First half dividend of JP¥31.00 announced Shareholders will receive a dividend of JP¥31.00. Ex-date: 29th December 2025 Payment date: 30th March 2026 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: JP¥35.73 (vs JP¥24.78 in 2Q 2024) Second quarter 2025 results: EPS: JP¥35.73 (up from JP¥24.78 in 2Q 2024). Revenue: JP¥10.6b (down 9.0% from 2Q 2024). Net income: JP¥856.0m (up 42% from 2Q 2024). Profit margin: 8.0% (up from 5.2% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 26 August 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (4.0%). In line with average of industry peers (2.6%). Reported Earnings • May 20
First quarter 2025 earnings released: EPS: JP¥16.58 (vs JP¥24.99 in 1Q 2024) First quarter 2025 results: EPS: JP¥16.58 (down from JP¥24.99 in 1Q 2024). Revenue: JP¥11.5b (up 24% from 1Q 2024). Net income: JP¥397.0m (down 35% from 1Q 2024). Profit margin: 3.4% (down from 6.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Shiro Uchida was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 11
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 27th June 2025 Payment date: 26th August 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 15
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥100.00 (up from JP¥84.78 in FY 2023). Revenue: JP¥45.6b (up 26% from FY 2023). Net income: JP¥2.43b (up 18% from FY 2023). Profit margin: 5.3% (down from 5.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 6.2%. Revenue is expected to decline by 1.5% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Japan are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Announcement • Feb 13
Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 27, 2025 Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 27, 2025. New Risk • Jan 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Upcoming Dividend • Dec 20
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥2,043, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,507 per share. New Risk • Nov 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 6.3% 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. Announcement • Nov 15
Aoyama Zaisan Networks Company,Limited (TSE:8929) announces an Equity Buyback for 1,250,000 shares, representing 5.12% for ¥2,100 million. Aoyama Zaisan Networks Company,Limited (TSE:8929) announces a share repurchase program. Under the program, the company will repurchase up to 1,250,000 shares, representing 5.12% of its issued share capital (excluding treasury stock) for ¥2,100 million. The purpose of the program is to carry out M&A and capital and business alliances for growth, to strengthen partnerships with close business partners, to cancel treasury stock for shareholder returns, and to utilize the proceeds for incentive plans. The program will be valid till May 14, 2025. As of September 30, 2024, the company had 24,417,189 ordinary shares in issue and 165,470 ordinary shares in treasury. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥24.78 (vs JP¥22.25 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.78 (up from JP¥22.25 in 2Q 2023). Revenue: JP¥11.7b (up 74% from 2Q 2023). Net income: JP¥604.0m (up 12% from 2Q 2023). Profit margin: 5.2% (down from 8.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 16% per year. Declared Dividend • Aug 10
Dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 05
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 5.9% 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 • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,218, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 21 August 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.6%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: JP¥24.99 (vs JP¥11.98 in 1Q 2023) First quarter 2024 results: EPS: JP¥24.99 (up from JP¥11.98 in 1Q 2023). Revenue: JP¥9.30b (up 27% from 1Q 2023). Net income: JP¥608.0m (up 109% from 1Q 2023). Profit margin: 6.5% (up from 4.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 24% per year. Declared Dividend • Apr 11
Final dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 27th June 2024 Payment date: 21st August 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 11
Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 28, 2024 Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 28, 2024. Reported Earnings • Feb 11
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥84.78 (up from JP¥69.80 in FY 2022). Revenue: JP¥36.1b (flat on FY 2022). Net income: JP¥2.06b (up 22% from FY 2022). Profit margin: 5.7% (up from 4.7% in FY 2022). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥26.00 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.6%). Announcement • Dec 05
Aoyama Zaisan Networks Company,Limited to Report Fiscal Year 2023 Results on Feb 09, 2024 Aoyama Zaisan Networks Company,Limited announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Nov 20
Third quarter 2023 earnings released: EPS: JP¥17.88 (vs JP¥14.44 in 3Q 2022) Third quarter 2023 results: EPS: JP¥17.88 (up from JP¥14.44 in 3Q 2022). Revenue: JP¥11.7b (up 50% from 3Q 2022). Net income: JP¥435.0m (up 24% from 3Q 2022). Profit margin: 3.7% (down from 4.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Aug 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 65% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (65% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: JP¥22.25 (vs JP¥10.50 in 2Q 2022) Second quarter 2023 results: EPS: JP¥22.25 (up from JP¥10.50 in 2Q 2022). Revenue: JP¥6.72b (down 11% from 2Q 2022). Net income: JP¥541.0m (up 112% from 2Q 2022). Profit margin: 8.0% (up from 3.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥15.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 22 August 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.8%). Reported Earnings • May 14
First quarter 2023 earnings released: EPS: JP¥11.98 (vs JP¥18.94 in 1Q 2022) First quarter 2023 results: EPS: JP¥11.98 (down from JP¥18.94 in 1Q 2022). Revenue: JP¥7.32b (down 42% from 1Q 2022). Net income: JP¥291.0m (down 37% from 1Q 2022). Profit margin: 4.0% (up from 3.6% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Feb 12
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥69.80 (up from JP¥61.21 in FY 2021). Revenue: JP¥36.0b (up 49% from FY 2021). Net income: JP¥1.69b (up 14% from FY 2021). Profit margin: 4.7% (down from 6.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 5.8%. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 12
Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 30, 2023 Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 30, 2023. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 March 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.9%). Announcement • Dec 06
Aoyama Zaisan Networks Company,Limited to Report Fiscal Year 2022 Results on Feb 10, 2023 Aoyama Zaisan Networks Company,Limited announced that they will report fiscal year 2022 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 2 independent directors (9 non-independent directors). Independent Outside Director Keiji Watanabe was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Aug 28
Aoyama Zaisan Networks Company,Limited to Report Q3, 2022 Results on Nov 11, 2022 Aoyama Zaisan Networks Company,Limited announced that they will report Q3, 2022 results on Nov 11, 2022 Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: JP¥10.50 (vs JP¥24.85 in 2Q 2021) Second quarter 2022 results: EPS: JP¥10.50 (down from JP¥24.85 in 2Q 2021). Revenue: JP¥7.58b (down 11% from 2Q 2021). Net income: JP¥255.0m (down 58% from 2Q 2021). Profit margin: 3.4% (down from 7.0% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 27%, compared to a 3.7% growth forecast for the 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 increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 23 August 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.7%). Announcement • Jun 18
Aoyama Zaisan Networks Company,Limited to Report Q2, 2022 Results on Aug 04, 2022 Aoyama Zaisan Networks Company,Limited announced that they will report Q2, 2022 results on Aug 04, 2022 Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥18.94 (down from JP¥19.51 in 1Q 2021). Revenue: JP¥12.7b (up 275% from 1Q 2021). Net income: JP¥458.0m (down 3.4% from 1Q 2021). Profit margin: 3.6% (down from 14% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 17%, compared to a 5.4% growth forecast for the 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 increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,010, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,517 per share. Buying Opportunity • Apr 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be JP¥1,532, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 2.7%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 2 independent directors (9 non-independent directors). Independent Outside Director Keiji Watanabe was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Aoyama Zaisan Networks Company,Limited to Report Q1, 2022 Results on May 10, 2022 Aoyama Zaisan Networks Company,Limited announced that they will report Q1, 2022 results on May 10, 2022 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,423, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,506 per share. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥1,112, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,419 per share. Buying Opportunity • Feb 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be JP¥1,419, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% per annum over the last 3 years. Earnings per share has declined by 2.7% per annum over the last 3 years. Announcement • Feb 10
Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 30, 2022 Aoyama Zaisan Networks Company,Limited, Annual General Meeting, Mar 30, 2022. Reported Earnings • Feb 09
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: JP¥61.21 (up from JP¥32.97 in FY 2020). Revenue: JP¥24.2b (up 27% from FY 2020). Net income: JP¥1.48b (up 85% from FY 2020). Profit margin: 6.1% (up from 4.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 40%, compared to a 7.1% growth forecast for the 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 increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,442, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 124% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥4.19 (vs JP¥3.46 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.04b (up 228% from 3Q 2020). Net income: JP¥101.0m (up JP¥185.0m from 3Q 2020). Profit margin: 1.7% (up from net loss in 3Q 2020). The move to profitability 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 increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorated over the past week After last week's 49% share price decline to JP¥877, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 11x in the Real Estate industry in Japan. Total loss to shareholders of 49% over the past three years. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS JP¥49.70 (vs JP¥18.64 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥8.54b (up 256% from 2Q 2020). Net income: JP¥602.0m (up 166% from 2Q 2020). Profit margin: 7.0% (down from 9.4% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 23
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 24 August 2021. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.3%). Announcement • May 19
Aoyama Zaisan Networks Company,Limited (TSE:8929) announces an Equity Buyback for 110,000 shares, representing 0.9% for ¥167.75 million. Aoyama Zaisan Networks Company,Limited (TSE:8929) announces a share repurchase program. Under the program, the company will repurchase up to 110,000 shares, representing 0.9% of its issued share capital (excluding treasury stock), for a total purchase price of ¥167.75 million. The shares will be repurchased at a price of ¥1,525 per share. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, improve capital efficiency and enhance shareholder returns. The program will be valid till May 19, 2021. As of April 30, 2021, the company had 12,160,676 issued shares (excluding treasury stock) and 124 treasury shares. Reported Earnings • May 15
First quarter 2021 earnings released: EPS JP¥39.02 (vs JP¥17.17 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: JP¥3.38b (down 52% from 1Q 2020). Net income: JP¥474.0m (up 128% from 1Q 2020). Profit margin: 14% (up from 2.9% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS JP¥65.95 (vs JP¥140 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: JP¥19.1b (flat on FY 2019). Net income: JP¥800.0m (down 52% from FY 2019). Profit margin: 4.2% (down from 8.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥65.95 (vs JP¥140 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: JP¥19.1b (flat on FY 2019). Net income: JP¥800.0m (down 52% from FY 2019). Profit margin: 4.2% (down from 8.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 05
New 90-day low: JP¥1,520 The company is down 15% from its price of JP¥1,782 on 07 October 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 4.0% over the same period. Announcement • Dec 30
Aoyama Zaisan Networks Company,Limited to Report Fiscal Year 2020 Results on Feb 09, 2021 Aoyama Zaisan Networks Company,Limited announced that they will report fiscal year 2020 results on Feb 09, 2021 