Reported Earnings • May 12
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥527 (up from JP¥492 in FY 2025). Revenue: JP¥251.9b (up 8.1% from FY 2025). Net income: JP¥25.3b (up 4.3% from FY 2025). Profit margin: 10.0% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%. Revenue is forecast to grow 5.6% 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 8% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
Starts Corporation Inc., Annual General Meeting, Jun 26, 2026 Starts Corporation Inc., Annual General Meeting, Jun 26, 2026. Announcement • May 09
Starts Corporation Inc. to Report Fiscal Year 2026 Results on May 11, 2026 Starts Corporation Inc. announced that they will report fiscal year 2026 results on May 11, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥146 (vs JP¥125 in 3Q 2025) Third quarter 2026 results: EPS: JP¥146 (up from JP¥125 in 3Q 2025). Revenue: JP¥62.8b (up 7.0% from 3Q 2025). Net income: JP¥7.01b (up 13% from 3Q 2025). Profit margin: 11% (in line with 3Q 2025). Revenue is forecast to grow 6.5% 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 7% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Dec 31
Price target decreased by 13% to JP¥4,200 Down from JP¥4,800, the current price target is provided by 1 analyst. New target price is 12% below last closing price of JP¥4,785. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥519 for next year compared to JP¥492 last year. Announcement • Dec 19
Starts Corporation Inc. to Report Q3, 2026 Results on Feb 09, 2026 Starts Corporation Inc. announced that they will report Q3, 2026 results on Feb 09, 2026 Declared Dividend • Dec 02
First half dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥119 (vs JP¥82.80 in 2Q 2025) Second quarter 2026 results: EPS: JP¥119 (up from JP¥82.80 in 2Q 2025). Revenue: JP¥59.2b (up 8.0% from 2Q 2025). Net income: JP¥5.71b (up 39% from 2Q 2025). Profit margin: 9.7% (up from 7.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% 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 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 28
Starts Corporation Inc. to Report Q2, 2026 Results on Nov 10, 2025 Starts Corporation Inc. announced that they will report Q2, 2026 results on Nov 10, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥106 (vs JP¥159 in 1Q 2025) First quarter 2026 results: EPS: JP¥106 (down from JP¥159 in 1Q 2025). Revenue: JP¥59.4b (up 9.9% from 1Q 2025). Net income: JP¥5.13b (down 35% from 1Q 2025). Profit margin: 8.6% (down from 15% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% 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 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 10
Price target decreased by 13% to JP¥4,200 Down from JP¥4,800, the current price target is provided by 1 analyst. New target price is 8.9% below last closing price of JP¥4,610. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥478 for next year compared to JP¥492 last year. Declared Dividend • Jul 09
Final dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 11% 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. Buy Or Sell Opportunity • Jul 08
Now 20% undervalued Over the last 90 days, the stock has risen 23% to JP¥4,540. The fair value is estimated to be JP¥5,675, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period. Announcement • Jun 20
Starts Corporation Inc. to Report Q1, 2026 Results on Aug 08, 2025 Starts Corporation Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥492 (up from JP¥445 in FY 2024). Revenue: JP¥233.0b (flat on FY 2024). Net income: JP¥24.3b (up 9.9% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Real Estate 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 increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Announcement • Mar 01
Starts Corporation Inc. to Report Fiscal Year 2025 Results on May 12, 2025 Starts Corporation Inc. announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥125 (vs JP¥102 in 3Q 2024) Third quarter 2025 results: EPS: JP¥125 (up from JP¥102 in 3Q 2024). Revenue: JP¥58.7b (flat on 3Q 2024). Net income: JP¥6.21b (up 23% from 3Q 2024). Profit margin: 11% (up from 8.6% in 3Q 2024). Revenue is forecast to grow 6.1% 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 15% per year whereas the company’s share price has increased by 17% per year. Announcement • Jan 03
Starts Corporation Inc. to Report Q3, 2025 Results on Feb 13, 2025 Starts Corporation Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 New Risk • Dec 07
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Declared Dividend • Dec 03
First half dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. 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 • Nov 09
Second quarter 2025 earnings released: EPS: JP¥82.80 (vs JP¥93.78 in 2Q 2024) Second quarter 2025 results: EPS: JP¥82.80 (down from JP¥93.78 in 2Q 2024). Revenue: JP¥54.8b (up 2.5% from 2Q 2024). Net income: JP¥4.11b (down 12% from 2Q 2024). Profit margin: 7.5% (down from 8.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% 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 15% per year whereas the company’s share price has increased by 11% per year. Announcement • Nov 08
Starts Corporation Inc. (TSE:8850) announces an Equity Buyback for 1,650,000 shares, representing 3.24% for ¥5,449.35 million. Starts Corporation Inc. (TSE:8850) announces a share repurchase program. Under the program, the company will repurchase up to 1,650,000 shares of its common stock, representing 3.24% of its issued share capital, for ¥5,449.35 million. The shares will be repurchased at a offer price of ¥3,271 per share. The purpose of the offer is returning profits to shareholders. The program will be valid through December 9, 2024. As of November 8, 2024, the company has 50,863,136 issued shares (excluding treasury stock) and 3,135,069 treasury shares. Announcement • Oct 02
Starts Corporation Inc. to Report Q2, 2025 Results on Nov 08, 2024 Starts Corporation Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 20% 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 (2.6%). Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥159 (vs JP¥97.83 in 1Q 2024) First quarter 2025 results: EPS: JP¥159 (up from JP¥97.83 in 1Q 2024). Revenue: JP¥54.0b (up 4.9% from 1Q 2024). Net income: JP¥7.91b (up 63% from 1Q 2024). Profit margin: 15% (up from 9.4% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.2% 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 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,832, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 5.6% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (24% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 23
Starts Corporation Inc. to Report Q1, 2025 Results on Aug 09, 2024 Starts Corporation Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Announcement • May 15
Starts Corporation Inc., Annual General Meeting, Jun 26, 2024 Starts Corporation Inc., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥445 (up from JP¥407 in FY 2023). Revenue: JP¥233.4b (flat on FY 2023). Net income: JP¥22.1b (up 9.3% from FY 2023). Profit margin: 9.5% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.1%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Announcement • Mar 28
Starts Corporation Inc. to Report Fiscal Year 2024 Results on May 10, 2024 Starts Corporation Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 24% and the cash payout ratio is 97%. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.2%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥102 (vs JP¥97.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥102 (up from JP¥97.87 in 3Q 2023). Revenue: JP¥58.5b (down 16% from 3Q 2023). Net income: JP¥5.05b (up 3.9% from 3Q 2023). Profit margin: 8.6% (up from 7.0% in 3Q 2023). 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 4.2% growth forecast for the Real Estate 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 remained flat, which means it is significantly lagging earnings. Announcement • Dec 27
Starts Corporation Inc. to Report Q3, 2024 Results on Feb 08, 2024 Starts Corporation Inc. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥93.78 (vs JP¥100 in 2Q 2023) Second quarter 2024 results: EPS: JP¥93.78 (down from JP¥100 in 2Q 2023). Revenue: JP¥53.5b (up 3.4% from 2Q 2023). Net income: JP¥4.66b (down 6.5% from 2Q 2023). Profit margin: 8.7% (in line with 2Q 2023). Revenue is forecast to grow 2.1% 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 15% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 28
Starts Corporation Inc. to Report Q2, 2024 Results on Nov 09, 2023 Starts Corporation Inc. announced that they will report Q2, 2024 results on Nov 09, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥50.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥97.83 (vs JP¥92.69 in 1Q 2023) First quarter 2024 results: EPS: JP¥97.83 (up from JP¥92.69 in 1Q 2023). Revenue: JP¥51.5b (up 9.9% from 1Q 2023). Net income: JP¥4.86b (up 5.6% from 1Q 2023). Profit margin: 9.4% (in line with 1Q 2023). Revenue is forecast to grow 1.6% 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 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Starts Corporation Inc. to Report Q1, 2024 Results on Aug 09, 2023 Starts Corporation Inc. announced that they will report Q1, 2024 results on Aug 09, 2023 Buying Opportunity • Jun 23
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥3,717, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 5.9% per annum over the same time period. Price Target Changed • Jun 08
Price target increased by 19% to JP¥3,800 Up from JP¥3,200, the current price target is provided by 1 analyst. New target price is 38% above last closing price of JP¥2,746. Stock is up 5.7% over the past year. The company posted earnings per share of JP¥407 last year. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥407 (vs JP¥333 in FY 2022) Full year 2023 results: EPS: JP¥407 (up from JP¥333 in FY 2022). Revenue: JP¥233.9b (up 19% from FY 2022). Net income: JP¥20.2b (up 21% from FY 2022). Profit margin: 8.6% (in line with FY 2022). Revenue is forecast to stay flat during the next 2 years compared to a 3.4% growth forecast for the Real Estate 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Starts Corporation Inc., Annual General Meeting, Jun 29, 2023 Starts Corporation Inc., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥43.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 10.0% 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 (3.1%). Buying Opportunity • Mar 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.5%. The fair value is estimated to be JP¥3,046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 3.4% in 2 years. Earnings is forecast to grow by 15% in the next 2 years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥97.86 (vs JP¥84.20 in 3Q 2022) Third quarter 2023 results: EPS: JP¥97.86 (up from JP¥84.20 in 3Q 2022). Revenue: JP¥69.3b (up 43% from 3Q 2022). Net income: JP¥4.86b (up 16% from 3Q 2022). Profit margin: 7.0% (down from 8.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 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 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Dec 16
Starts Corporation Inc. to Report Q3, 2023 Results on Feb 07, 2023 Starts Corporation Inc. announced that they will report Q3, 2023 results on Feb 07, 2023 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. 3 experienced directors. 9 highly experienced directors. No independent directors (10 non-independent directors). Director Hisayuki Muramatsu was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: JP¥100 (vs JP¥72.78 in 2Q 2022) Second quarter 2023 results: EPS: JP¥100 (up from JP¥72.78 in 2Q 2022). Revenue: JP¥51.7b (up 14% from 2Q 2022). Net income: JP¥4.98b (up 38% from 2Q 2022). Profit margin: 9.6% (up from 8.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% 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 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Sep 28
Price target increased to JP¥3,800 Up from JP¥3,200, the current price target is provided by 1 analyst. New target price is 45% above last closing price of JP¥2,627. Stock is down 1.7% over the past year. The company is forecast to post earnings per share of JP¥367 for next year compared to JP¥333 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Sep 15
Starts Corporation Inc. to Report Q2, 2023 Results on Nov 07, 2022 Starts Corporation Inc. announced that they will report Q2, 2023 results on Nov 07, 2022 Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: JP¥92.69 (vs JP¥67.31 in 1Q 2022) First quarter 2023 results: EPS: JP¥92.69 (up from JP¥67.31 in 1Q 2022). Revenue: JP¥46.9b (up 2.8% from 1Q 2022). Net income: JP¥4.60b (up 30% from 1Q 2022). Profit margin: 9.8% (up from 7.8% in 1Q 2022). Over the next year, revenue is forecast to grow 6.5%, compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Announcement • Jun 30
Starts Corporation Inc. to Report Q1, 2023 Results on Aug 08, 2022 Starts Corporation Inc. announced that they will report Q1, 2023 results on Aug 08, 2022 Announcement • May 12
Starts Corporation Inc., Annual General Meeting, Jun 29, 2022 Starts Corporation Inc., Annual General Meeting, Jun 29, 2022. Reported Earnings • May 11
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥333 (up from JP¥296 in FY 2021). Revenue: JP¥196.6b (down 1.2% from FY 2021). Net income: JP¥16.8b (up 7.5% from FY 2021). Profit margin: 8.5% (up from 7.8% in FY 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 4.5%, compared to a 5.4% growth forecast for the industry in Japan. 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 2% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to JP¥3,200 Up from JP¥2,560, the current price target is an average from 2 analysts. New target price is 38% above last closing price of JP¥2,324. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥326 for next year compared to JP¥296 last year. 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. 3 experienced directors. 8 highly experienced directors. 1 independent director (11 non-independent directors). Director Hisayuki Muramatsu was the last director to join the board, commencing their role in 2019. 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
Starts Corporation Inc. to Report Fiscal Year 2022 Results on May 10, 2022 Starts Corporation Inc. announced that they will report fiscal year 2022 results on May 10, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.6%). Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥84.19 (up from JP¥72.85 in 3Q 2021). Revenue: JP¥48.4b (down 1.7% from 3Q 2021). Net income: JP¥4.18b (up 9.0% from 3Q 2021). Profit margin: 8.6% (up from 7.8% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Over the next year, revenue is forecast to grow 4.2%, compared to a 7.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥72.78 (vs JP¥66.45 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥45.3b (down 4.6% from 2Q 2021). Net income: JP¥3.61b (up 3.3% from 2Q 2021). Profit margin: 8.0% (up from 7.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (2.3%). Reported Earnings • Aug 11
First quarter 2022 earnings released: EPS JP¥67.31 (vs JP¥59.42 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥45.6b (down 2.0% from 1Q 2021). Net income: JP¥3.54b (up 13% from 1Q 2021). Profit margin: 7.8% (up from 6.7% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • May 12
Full year 2021 earnings released: EPS JP¥296 (vs JP¥286 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥199.0b (down 4.8% from FY 2020). Net income: JP¥15.6b (up 3.6% from FY 2020). Profit margin: 7.8% (up from 7.2% in FY 2020). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (2.1%). Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥72.85 (vs JP¥71.82 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JP¥49.2b (up 1.4% from 3Q 2020). Net income: JP¥3.84b (up 1.5% from 3Q 2020). Profit margin: 7.8% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the next year, revenue is forecast to decline by -5.4% while the Real Estate industry in Japan is not expected to grow. Announcement • Dec 24
Starts Corporation Inc. to Report Q3, 2021 Results on Feb 10, 2021 Starts Corporation Inc. announced that they will report Q3, 2021 results on Feb 10, 2021 Price Target Changed • Dec 01
Price target raised to JP¥2,870 Up from JP¥2,560, the current price target is an average from 2 analysts. The new target price is close to the current share price of JP¥2,875. As of last close, the stock is up 8.4% over the past year. Is New 90 Day High Low • Dec 01
New 90-day high: JP¥2,875 The company is up 32% from its price of JP¥2,186 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥3,225 per share. Announcement • Sep 04
Starts Corporation Inc. to Report Q2, 2021 Results on Nov 12, 2020 Starts Corporation Inc. announced that they will report Q2, 2021 results on Nov 12, 2020 Announcement • Jul 05
Starts Corporation Inc. to Report Q1, 2021 Results on Aug 07, 2020 Starts Corporation Inc. announced that they will report Q1, 2021 results on Aug 07, 2020 
