New Risk • May 11
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 6.9% 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. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Reported Earnings • May 09
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥159 (up from JP¥122 in FY 2025). Revenue: JP¥151.9b (up 17% from FY 2025). Net income: JP¥12.5b (up 31% from FY 2025). Profit margin: 8.2% (up from 7.4% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 9.7% 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 28% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 09
KATITAS CO., Ltd. to Report Fiscal Year 2026 Results on May 08, 2026 KATITAS CO., Ltd. announced that they will report fiscal year 2026 results on May 08, 2026 Announcement • May 08
KATITAS CO., Ltd., Annual General Meeting, Jun 23, 2026 KATITAS CO., Ltd., Annual General Meeting, Jun 23, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 10 June 2026. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.2%). Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥44.74 (up from JP¥34.20 in 3Q 2025). Revenue: JP¥40.0b (up 23% from 3Q 2025). Net income: JP¥3.50b (up 31% from 3Q 2025). Profit margin: 8.8% (up from 8.2% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 8.5% 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 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Dec 27
KATITAS CO., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 KATITAS CO., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Nov 27
First half dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 30th March 2026 Payment date: 10th June 2026 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 24% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,936, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Real Estate industry in Japan. Total loss to shareholders of 4.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,808 per share. Reported Earnings • Nov 08
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥40.01 (up from JP¥31.80 in 2Q 2025). Revenue: JP¥37.4b (up 14% from 2Q 2025). Net income: JP¥3.13b (up 26% from 2Q 2025). Profit margin: 8.4% (up from 7.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue is forecast to grow 8.1% 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 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 07
Price target increased by 7.9% to JP¥2,983 Up from JP¥2,764, the current price target is an average from 8 analysts. New target price is 6.9% above last closing price of JP¥2,790. Stock is up 41% over the past year. The company is forecast to post earnings per share of JP¥144 for next year compared to JP¥122 last year. Announcement • Sep 27
KATITAS CO., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 KATITAS CO., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 26 November 2025. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Reported Earnings • Aug 08
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: JP¥36.54 (up from JP¥26.27 in 1Q 2025). Revenue: JP¥35.1b (up 12% from 1Q 2025). Net income: JP¥2.86b (up 39% from 1Q 2025). Profit margin: 8.1% (up from 6.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 7.8% 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 16% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 09
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 29th September 2025 Payment date: 26th November 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 23% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥122 (up from JP¥109 in FY 2024). Revenue: JP¥129.5b (up 2.2% from FY 2024). Net income: JP¥9.55b (up 12% from FY 2024). Profit margin: 7.4% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 1.9%. Revenue is forecast to grow 8.0% 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 13% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 07
KATITAS CO., Ltd. to Report Q1, 2026 Results on Aug 07, 2025 KATITAS CO., Ltd. announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥122 (up from JP¥109 in FY 2024). Revenue: JP¥129.5b (up 2.2% from FY 2024). Net income: JP¥9.55b (up 12% from FY 2024). Profit margin: 7.4% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 1.9%. Revenue is forecast to grow 8.8% 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 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • May 09
KATITAS CO., Ltd., Annual General Meeting, Jun 24, 2025 KATITAS CO., Ltd., Annual General Meeting, Jun 24, 2025. Announcement • Apr 03
KATITAS CO., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 KATITAS CO., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 11 June 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥34.20 (up from JP¥29.75 in 3Q 2024). Revenue: JP¥32.6b (up 3.2% from 3Q 2024). Net income: JP¥2.67b (up 16% from 3Q 2024). Profit margin: 8.2% (up from 7.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 8.1%. Revenue is forecast to grow 8.4% 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 6% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Jan 17
KATITAS CO., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 KATITAS CO., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Nov 27
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 28th March 2025 Payment date: 11th June 2025 Dividend yield will be 2.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 22% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥31.80 (up from JP¥24.06 in 2Q 2024). Revenue: JP¥32.8b (up 7.8% from 2Q 2024). Net income: JP¥2.49b (up 33% from 2Q 2024). Profit margin: 7.6% (up from 6.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 7.5% 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 fallen by 1% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Sep 23
KATITAS CO., Ltd.(TSE:8919) dropped from FTSE All-World Index (USD) KATITAS CO., Ltd.(TSE:8919) dropped from FTSE All-World Index (USD) Upcoming Dividend • Sep 20
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 28 November 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.6%). Announcement • Aug 23
KATITAS CO., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 KATITAS CO., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings: EPS in line with expectations, revenues disappoint First quarter 2025 results: EPS: JP¥26.27 (down from JP¥27.27 in 1Q 2024). Revenue: JP¥31.2b (down 1.3% from 1Q 2024). Net income: JP¥2.05b (down 3.3% from 1Q 2024). Profit margin: 6.6% (down from 6.7% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.4% p.a. on average during the next 3 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 fallen by 6% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,596, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Real Estate industry in Japan. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,189 per share. Declared Dividend • Jul 11
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 27th September 2024 Payment date: 28th November 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 22% per year over the past 7 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. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 1 highly experienced director. Independent Outside Director Miwa Suto was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 08
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: JP¥109 (up from JP¥78.65 in FY 2023). Revenue: JP¥126.7b (up 4.4% from FY 2023). Net income: JP¥8.50b (up 40% from FY 2023). Profit margin: 6.7% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 14% per year. Announcement • May 08
KATITAS CO., Ltd., Annual General Meeting, Jun 25, 2024 KATITAS CO., Ltd., Annual General Meeting, Jun 25, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 13 June 2024. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.2%). Announcement • Mar 02
KATITAS CO., Ltd. to Report Fiscal Year 2024 Results on May 07, 2024 KATITAS CO., Ltd. announced that they will report fiscal year 2024 results on May 07, 2024 New Risk • Feb 18
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: 4.1% Last year net profit margin: 6.1% 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: Minor Risks Dividend is not well covered by cash flows (455% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Feb 09
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥29.75 (up from JP¥28.90 in 3Q 2023). Revenue: JP¥31.6b (up 7.0% from 3Q 2023). Net income: JP¥2.31b (up 3.3% from 3Q 2023). Profit margin: 7.3% (down from 7.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Revenue is forecast to grow 7.3% 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 fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,831, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Real Estate industry in Japan. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,693 per share. Buying Opportunity • Dec 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.3%. The fair value is estimated to be JP¥2,707, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 4.9%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Announcement • Nov 30
KATITAS CO., Ltd. to Report Q3, 2024 Results on Feb 07, 2024 KATITAS CO., Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 New Risk • Nov 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (455% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Nov 07
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥24.06 (down from JP¥34.18 in 2Q 2023). Revenue: JP¥30.4b (down 1.2% from 2Q 2023). Net income: JP¥1.87b (down 29% from 2Q 2023). Profit margin: 6.1% (down from 8.6% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 8.3% 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 remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Oct 08
KATITAS CO., Ltd. to Report Q2, 2024 Results on Nov 06, 2023 KATITAS CO., Ltd. announced that they will report Q2, 2024 results on Nov 06, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥27.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.6%). New Risk • Aug 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.3% average weekly change). Large one-off items impacting financial results. New Risk • Aug 10
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 5.4% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.4% average weekly change). Reported Earnings • Aug 08
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥27.27 (down from JP¥30.13 in 1Q 2023). Revenue: JP¥31.6b (up 12% from 1Q 2023). Net income: JP¥2.12b (down 8.9% from 1Q 2023). Profit margin: 6.7% (down from 8.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Revenue is forecast to grow 8.1% 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 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 29
KATITAS CO., Ltd. to Report Q1, 2024 Results on Aug 07, 2023 KATITAS CO., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Reported Earnings • May 10
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥110 (up from JP¥88.70 in FY 2022). Revenue: JP¥121.3b (up 20% from FY 2022). Net income: JP¥8.54b (up 25% from FY 2022). Profit margin: 7.0% (up from 6.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 8.3%. Revenue is forecast to grow 8.2% 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 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 09
KATITAS CO., Ltd., Annual General Meeting, Jun 27, 2023 KATITAS CO., Ltd., Annual General Meeting, Jun 27, 2023. Agenda: ordinary general meeting of shareholders. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥24.50 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 14 June 2023. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 04
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥28.90 (down from JP¥32.69 in 3Q 2022). Revenue: JP¥29.5b (up 11% from 3Q 2022). Net income: JP¥2.24b (down 11% from 3Q 2022). Profit margin: 7.6% (down from 9.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Revenue is forecast to grow 9.0% p.a. on average 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 and the company’s share price has also increased by 11% per year. Announcement • Jan 11
KATITAS CO., Ltd. to Report Q3, 2023 Results on Feb 03, 2023 KATITAS CO., Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2023 results: EPS: JP¥34.18 (up from JP¥31.99 in 2Q 2022). Revenue: JP¥30.8b (up 22% from 2Q 2022). Net income: JP¥2.64b (up 7.1% from 2Q 2022). Profit margin: 8.6% (down from 9.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 9.0% p.a. on average during the next 3 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 10% per year and the company’s share price has also increased by 10% per year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. Independent Outside Director Miwa Suto was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2023 results: EPS: JP¥34.18 (up from JP¥31.99 in 2Q 2022). Revenue: JP¥30.8b (up 22% from 2Q 2022). Net income: JP¥2.64b (up 7.1% from 2Q 2022). Profit margin: 8.6% (down from 9.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.6% 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 10% per year whereas the company’s share price has increased by 11% per year. Buying Opportunity • Nov 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.2%. The fair value is estimated to be JP¥3,963, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 8.9% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Announcement • Sep 24
KATITAS CO., Ltd. to Report Q2, 2023 Results on Nov 04, 2022 KATITAS CO., Ltd. announced that they will report Q2, 2023 results on Nov 04, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 25 November 2022. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 07
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: EPS: JP¥30.13 (up from JP¥27.36 in 1Q 2022). Revenue: JP¥28.4b (up 17% from 1Q 2022). Net income: JP¥2.33b (up 10% from 1Q 2022). Profit margin: 8.2% (down from 8.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 12%, compared to a 2.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. Independent Outside Director Miwa Suto was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 29
KATITAS CO., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 KATITAS CO., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥2,584, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,517 per share. Announcement • May 27
Katitas Co., Ltd. Announces Retirement of Directors , Effective from June 28 KATITAS CO., Ltd. announced that retirement of Shinichi Onizawa Director, General Manager of Sales Headquarters and Director, General Manager of Marketing Office, Harutoshi Oe General Manager of New Business Development Office, and New Construction Project General Manager. Retirement will be effective at the conclusion of 44th Annual General Meeting of Shareholdersto be held on June 28. Reported Earnings • May 16
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥88.70 (down from JP¥96.84 in FY 2021). Revenue: JP¥101.3b (up 3.6% from FY 2021). Net income: JP¥6.85b (down 8.0% from FY 2021). Profit margin: 6.8% (down from 7.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 13%, compared to a 4.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Announcement • May 13
KATITAS CO., Ltd., Annual General Meeting, Jun 28, 2022 KATITAS CO., Ltd., Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent External Director Toshiyuki Shirai was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.