Buy Or Sell Opportunity • Apr 27
Now 20% undervalued Over the last 90 days, the stock has risen 3.2% to JP¥3,665. The fair value is estimated to be JP¥4,599, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to decline by 4.3% in 2 years. Earnings are forecast to decline by 19% in the next 2 years. Reported Earnings • Apr 25
Full year 2026 earnings released: EPS: JP¥445 (vs JP¥286 in FY 2025) Full year 2026 results: EPS: JP¥445 (up from JP¥286 in FY 2025). Revenue: JP¥31.9b (up 25% from FY 2025). Net income: JP¥10.4b (up 55% from FY 2025). Profit margin: 33% (up from 26% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to decline by 2.2% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 24
IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 26, 2026 IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 26, 2026. Buy Or Sell Opportunity • Apr 11
Now 20% undervalued Over the last 90 days, the stock has risen 4.9% to JP¥3,655. The fair value is estimated to be JP¥4,572, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 6.6% in 2 years. Earnings are forecast to decline by 7.7% in the next 2 years. Buy Or Sell Opportunity • Mar 21
Now 20% undervalued Over the last 90 days, the stock has risen 14% to JP¥3,590. The fair value is estimated to be JP¥4,503, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 6.6% in 2 years. Earnings are forecast to decline by 7.7% in the next 2 years. Declared Dividend • Mar 19
Dividend of JP¥85.00 announced Shareholders will receive a dividend of JP¥85.00. Ex-date: 30th March 2026 Payment date: 10th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but not covered by cash flows (173% 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. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Mar 04
Now 23% undervalued Over the last 90 days, the stock has risen 7.7% to JP¥3,435. The fair value is estimated to be JP¥4,479, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 6.6% in 2 years. Earnings are forecast to decline by 7.7% in the next 2 years. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥123 (vs JP¥78.71 in 3Q 2025) Third quarter 2026 results: EPS: JP¥123 (up from JP¥78.71 in 3Q 2025). Revenue: JP¥8.32b (up 22% from 3Q 2025). Net income: JP¥2.90b (up 57% from 3Q 2025). Profit margin: 35% (up from 27% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Japan are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to JP¥3,655. The fair value is estimated to be JP¥3,038, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to decline by 2.2% in 2 years. Earnings are forecast to decline by 14% in the next 2 years. Announcement • Dec 27
IwaiCosmo Holdings, Inc. to Report Q3, 2026 Results on Jan 30, 2026 IwaiCosmo Holdings, Inc. announced that they will report Q3, 2026 results on Jan 30, 2026 Buy Or Sell Opportunity • Nov 05
Now 22% undervalued Over the last 90 days, the stock has risen 9.7% to JP¥2,759. The fair value is estimated to be JP¥3,529, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to decline by 2.2% in 2 years. Earnings are forecast to decline by 14% in the next 2 years. Reported Earnings • Oct 25
Second quarter 2026 earnings released: EPS: JP¥104 (vs JP¥57.82 in 2Q 2025) Second quarter 2026 results: EPS: JP¥104 (up from JP¥57.82 in 2Q 2025). Revenue: JP¥7.59b (up 24% from 2Q 2025). Net income: JP¥2.43b (up 79% from 2Q 2025). Profit margin: 32% (up from 22% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 30% per year. Announcement • Oct 20
IwaiCosmo Holdings, Inc. Provides Preliminary Consolidated Earnings Guidance for the Second Quarter Ended September 30, 2025 IwaiCosmo Holdings, Inc. provided preliminary consolidated earnings guidance for the Second Quarter of the Fiscal Year ended September 30, 2025. For the period, the Operating revenue is of JPY 14,458 million, Operating profit of JPY 5,478 million, Profit attributable to owners of parent of JPY 4,619 million and Earnings per share of JPY 196.67. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 25 November 2025. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.7%). Announcement • Sep 02
IwaiCosmo Holdings, Inc. to Report Q2, 2026 Results on Oct 24, 2025 IwaiCosmo Holdings, Inc. announced that they will report Q2, 2026 results on Oct 24, 2025 Buy Or Sell Opportunity • Aug 04
Now 20% undervalued Over the last 90 days, the stock has risen 20% to JP¥2,452. The fair value is estimated to be JP¥3,067, 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 grown by 26%. Revenue is forecast to grow by 2.3% in a year. Earnings are forecast to decline by 4.0% in the next year. New Risk • Jul 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (130% cash payout ratio). Reported Earnings • Jul 27
First quarter 2026 earnings released: EPS: JP¥93.02 (vs JP¥77.74 in 1Q 2025) First quarter 2026 results: EPS: JP¥93.02 (up from JP¥77.74 in 1Q 2025). Revenue: JP¥6.69b (up 1.4% from 1Q 2025). Net income: JP¥2.19b (up 20% from 1Q 2025). Profit margin: 33% (up from 28% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 25% per year. Declared Dividend • Jul 20
Final dividend increased to JP¥58.00 Dividend of JP¥58.00 is 190% higher than last year. Ex-date: 29th September 2025 Payment date: 25th November 2025 Dividend yield will be 7.9%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 18
IwaiCosmo Holdings, Inc. to Report Q1, 2026 Results on Jul 25, 2025 IwaiCosmo Holdings, Inc. announced that they will report Q1, 2026 results on Jul 25, 2025 Board Change • Jul 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Junko Takechi was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: JP¥286 (vs JP¥236 in FY 2024) Full year 2025 results: EPS: JP¥286 (up from JP¥236 in FY 2024). Revenue: JP¥25.5b (up 7.3% from FY 2024). Net income: JP¥6.73b (up 21% from FY 2024). Profit margin: 26% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Capital Markets 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 17% per year, which means it is significantly lagging earnings growth. Announcement • Apr 25
IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 27, 2025 IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 27, 2025. Announcement • Apr 18
IwaiCosmo Holdings, Inc. Increases Year-End Dividend Plan for the Fiscal Year Ended March 31, 2025 IwaiCosmo Holdings, Inc. announced that it has decided to revise (increase) the plan for the year-end dividend per share for the fiscal year ended March 31, 2025. For the period, the company decided to pay a year-end dividend of JPY 125 per share against previous guidance of JPY 121 per share (an increase of JPY 4 per share from the previous plan). As a result, the planned annual dividend per share, including the interim dividend already paid, will be JPY 145 per share. Reason for Revision: The Company recognizes that the return of profits to shareholders is one of its most important management issues and its basic policy is to return profits commensurate with business performance, with an emphasis on maintaining stable dividends. In addition, during the period of the Fifth Medium-Term Management Plan (from the fiscal year ending March 31, 2023 to the fiscal year ending March 31, 2025) starting from the fiscal year ending March 31, 2023, in terms of continuing to pay stable dividends, the Company will set the minimum annual dividend per share at JPY 40. In terms of returning profits in line with business performance, the Company will work to increase the total return ratio on a consolidated basis to 50% or more to enhance the return of profits to shareholders. Profit recorded in the summary of the consolidated financial results for the fiscal year ended March 31, 2025 announced today was higher than the level expected at the meeting of the Board of Directors held on March 21. Therefore, in accordance with the Company's shareholder return policy, it was decided to pay a year-end dividend of JPY 125 per share for the fiscal year ended March 31, 2025 (an increase of 4 yen per share from the previous plan). As a result, the planned annual dividend per share, including the interim dividend already paid, will be JPY 145. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,091, the stock trades at a trailing P/E ratio of 7.4x. Average forward P/E is 11x in the Capital Markets industry in Japan. Total returns to shareholders of 89% over the past three years. New Risk • Apr 03
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 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (113% cash payout ratio). Share price has been volatile over the past 3 months (5.2% average weekly change). Buy Or Sell Opportunity • Mar 31
Now 21% undervalued Over the last 90 days, the stock has risen 4.1% to JP¥2,418. The fair value is estimated to be JP¥3,062, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 0.06% in 2 years. Earnings are forecast to grow by 1.8% in the next 2 years. Announcement • Mar 22
IwaiCosmo Holdings, Inc. to Report Fiscal Year 2025 Results on Apr 25, 2025 IwaiCosmo Holdings, Inc. announced that they will report fiscal year 2025 results on Apr 25, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 05 June 2025. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.4%). Buy Or Sell Opportunity • Mar 07
Now 20% undervalued Over the last 90 days, the stock has risen 7.9% to JP¥2,465. The fair value is estimated to be JP¥3,090, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 0.06% in 2 years. Earnings are forecast to grow by 1.8% in the next 2 years. Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥78.71 (vs JP¥60.07 in 3Q 2024) Third quarter 2025 results: EPS: JP¥78.71 (up from JP¥60.07 in 3Q 2024). Revenue: JP¥6.81b (up 16% from 3Q 2024). Net income: JP¥1.85b (up 31% from 3Q 2024). Profit margin: 27% (up from 24% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.8% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Announcement • Dec 06
IwaiCosmo Holdings, Inc. to Report Q3, 2025 Results on Jan 31, 2025 IwaiCosmo Holdings, Inc. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: JP¥57.82 (vs JP¥49.77 in 2Q 2024) Second quarter 2025 results: EPS: JP¥57.82 (up from JP¥49.77 in 2Q 2024). Revenue: JP¥6.12b (up 8.9% from 2Q 2024). Net income: JP¥1.36b (up 16% from 2Q 2024). Profit margin: 22% (up from 21% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Capital Markets 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 13% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 25 November 2024. Payout ratio is a comfortable 47% but the company is paying out more than the cash it is generating. Trailing yield: 5.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.2%). Announcement • Sep 12
IwaiCosmo Holdings, Inc. to Report Q2, 2025 Results on Oct 25, 2024 IwaiCosmo Holdings, Inc. announced that they will report Q2, 2025 results on Oct 25, 2024 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (271% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥1,653, the stock trades at a trailing P/E ratio of 6.4x. Average forward P/E is 12x in the Capital Markets industry in Japan. Total returns to shareholders of 40% over the past three years. Buy Or Sell Opportunity • Aug 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to JP¥2,132. The fair value is estimated to be JP¥2,715, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to decline by 0.7% in a year. Earnings are forecast to decline by 5.0% in the next year. Reported Earnings • Jul 28
First quarter 2025 earnings released: EPS: JP¥77.74 (vs JP¥56.54 in 1Q 2024) First quarter 2025 results: EPS: JP¥77.74 (up from JP¥56.54 in 1Q 2024). Revenue: JP¥6.60b (up 17% from 1Q 2024). Net income: JP¥1.83b (up 38% from 1Q 2024). Profit margin: 28% (up from 24% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Capital Markets 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 increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 28
IwaiCosmo Holdings, Inc. to Report Q1, 2025 Results on Jul 26, 2024 IwaiCosmo Holdings, Inc. announced that they will report Q1, 2025 results on Jul 26, 2024 Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥236 (vs JP¥152 in FY 2023) Full year 2024 results: EPS: JP¥236 (up from JP¥152 in FY 2023). Revenue: JP¥23.8b (up 22% from FY 2023). Net income: JP¥5.55b (up 56% from FY 2023). Profit margin: 23% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.9% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Japan are expected to grow by 5.5%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Apr 29
IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 21, 2024 IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 21, 2024. Announcement • Mar 28
IwaiCosmo Holdings, Inc. to Report Fiscal Year 2024 Results on Apr 26, 2024 IwaiCosmo Holdings, Inc. announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.4%). New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.0% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Jan 27
Third quarter 2024 earnings released: EPS: JP¥60.07 (vs JP¥39.55 in 3Q 2023) Third quarter 2024 results: EPS: JP¥60.07 (up from JP¥39.55 in 3Q 2023). Revenue: JP¥5.88b (up 19% from 3Q 2023). Net income: JP¥1.41b (up 52% from 3Q 2023). Profit margin: 24% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Dec 15
IwaiCosmo Holdings, Inc. to Report Q3, 2024 Results on Jan 26, 2024 IwaiCosmo Holdings, Inc. announced that they will report Q3, 2024 results on Jan 26, 2024 Buying Opportunity • Dec 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.9%. The fair value is estimated to be JP¥2,212, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 5.8%. Reported Earnings • Oct 22
Second quarter 2024 earnings released: EPS: JP¥49.77 (vs JP¥39.51 in 2Q 2023) Second quarter 2024 results: EPS: JP¥49.77 (up from JP¥39.51 in 2Q 2023). Revenue: JP¥5.62b (up 13% from 2Q 2023). Net income: JP¥1.17b (up 26% from 2Q 2023). Profit margin: 21% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. 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 8% per year, which means it is well ahead of earnings. Buying Opportunity • Oct 19
Now 21% undervalued Over the last 90 days, the stock is up 9.7%. The fair value is estimated to be JP¥2,195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 4.1%. Buying Opportunity • Oct 02
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥2,181, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 4.1%. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 4.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 24 November 2023. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.9%). Announcement • Sep 15
IwaiCosmo Holdings, Inc. to Report Q2, 2024 Results on Oct 20, 2023 IwaiCosmo Holdings, Inc. announced that they will report Q2, 2024 results on Oct 20, 2023 Reported Earnings • Jul 23
First quarter 2024 earnings released: EPS: JP¥56.54 (vs JP¥35.42 in 1Q 2023) First quarter 2024 results: EPS: JP¥56.54 (up from JP¥35.42 in 1Q 2023). Revenue: JP¥5.63b (up 23% from 1Q 2023). Net income: JP¥1.33b (up 60% from 1Q 2023). Profit margin: 24% (up from 18% in 1Q 2023). The increase in margin was driven by higher revenue. 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. Board Change • Jul 22
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. 3 highly experienced directors. Chairman of the Board & CEO Yoshiaki Okitsu is the most experienced director on the board, commencing their role in 1990. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 28
IwaiCosmo Holdings, Inc. to Report Q1, 2024 Results on Jul 21, 2023 IwaiCosmo Holdings, Inc. announced that they will report Q1, 2024 results on Jul 21, 2023 Reported Earnings • Apr 22
Full year 2023 earnings released: EPS: JP¥152 (vs JP¥160 in FY 2022) Full year 2023 results: EPS: JP¥152 (down from JP¥160 in FY 2022). Revenue: JP¥19.4b (down 5.3% from FY 2022). Net income: JP¥3.56b (down 5.1% from FY 2022). Profit margin: 18% (in line with FY 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥39.55 (vs JP¥52.71 in 3Q 2022) Third quarter 2023 results: EPS: JP¥39.55 (down from JP¥52.71 in 3Q 2022). Revenue: JP¥4.94b (down 9.2% from 3Q 2022). Net income: JP¥929.0m (down 25% from 3Q 2022). Profit margin: 19% (down from 23% in 3Q 2022). The decrease in margin was driven by lower revenue. 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 1% per year. Announcement • Jan 22
IwaiCosmo Holdings, Inc. to Report Q3, 2023 Results on Jan 27, 2023 IwaiCosmo Holdings, Inc. announced that they will report Q3, 2023 results on Jan 27, 2023 Reported Earnings • Oct 23
Second quarter 2023 earnings released: EPS: JP¥39.51 (vs JP¥42.57 in 2Q 2022) Second quarter 2023 results: EPS: JP¥39.51 (down from JP¥42.57 in 2Q 2022). Revenue: JP¥4.97b (down 4.2% from 2Q 2022). Net income: JP¥928.0m (down 7.2% from 2Q 2022). Profit margin: 19% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 24 November 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (4.5%). Announcement • Sep 10
IwaiCosmo Holdings, Inc. to Report Q2, 2023 Results on Oct 21, 2022 IwaiCosmo Holdings, Inc. announced that they will report Q2, 2023 results on Oct 21, 2022 Reported Earnings • Jul 25
First quarter 2023 earnings released: EPS: JP¥35.42 (vs JP¥31.80 in 1Q 2022) First quarter 2023 results: EPS: JP¥35.42 (up from JP¥31.80 in 1Q 2022). Revenue: JP¥4.57b (down 8.7% from 1Q 2022). Net income: JP¥832.0m (up 11% from 1Q 2022). Profit margin: 18% (up from 15% in 1Q 2022). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 3.1%, compared to a 2.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Announcement • Jun 29
IwaiCosmo Holdings, Inc. to Report Q1, 2023 Results on Jul 22, 2022 IwaiCosmo Holdings, Inc. announced that they will report Q1, 2023 results on Jul 22, 2022 Reported Earnings • Apr 27
Full year 2022 earnings released: EPS: JP¥160 (vs JP¥228 in FY 2021) Full year 2022 results: EPS: JP¥160 (down from JP¥228 in FY 2021). Revenue: JP¥20.5b (down 11% from FY 2021). Net income: JP¥3.76b (down 30% from FY 2021). Profit margin: 18% (down from 23% in FY 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to stay flat compared to a 7.5% growth forecast for the 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 only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 24, 2022 IwaiCosmo Holdings, Inc., Annual General Meeting, Jun 24, 2022. Agenda: General meeting of shareholders. Announcement • Apr 08
IwaiCosmo Holdings, Inc. to Report Fiscal Year 2022 Results on Apr 22, 2022 IwaiCosmo Holdings, Inc. announced that they will report fiscal year 2022 results on Apr 22, 2022 Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥52.71 (down from JP¥55.26 in 3Q 2021). Revenue: JP¥5.44b (down 7.6% from 3Q 2021). Net income: JP¥1.24b (down 4.6% from 3Q 2021). Profit margin: 23% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Oct 24
Second quarter 2022 earnings released: EPS JP¥42.57 (vs JP¥47.60 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥5.19b (down 4.8% from 2Q 2021). Net income: JP¥1.00b (down 11% from 2Q 2021). Profit margin: 19% (down from 21% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 24 November 2021. Trailing yield: 8.2%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (4.2%). Reported Earnings • Jul 23
First quarter 2022 earnings released: EPS JP¥31.80 (vs JP¥64.67 in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥5.01b (down 14% from 1Q 2021). Net income: JP¥747.0m (down 51% from 1Q 2021). Profit margin: 15% (down from 26% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥1,415, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 12x in the Capital Markets industry in Japan. Total returns to shareholders of 17% over the past three years. Reported Earnings • Apr 25
Full year 2021 earnings released: EPS JP¥228 (vs JP¥115 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥23.1b (up 24% from FY 2020). Net income: JP¥5.36b (up 99% from FY 2020). Profit margin: 23% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. 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 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥97.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 09 June 2021. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥2,006, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 24x in the Capital Markets industry in Japan. Total returns to shareholders of 69% over the past three years. Announcement • Mar 04
IwaiCosmo Holdings, Inc. to Report Fiscal Year 2021 Results on Apr 23, 2021 IwaiCosmo Holdings, Inc. announced that they will report fiscal year 2021 results on Apr 23, 2021 Is New 90 Day High Low • Feb 15
New 90-day high: JP¥1,552 The company is up 22% from its price of JP¥1,277 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 16% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥55.26 (vs JP¥32.78 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.88b (up 23% from 3Q 2020). Net income: JP¥1.30b (up 69% from 3Q 2020). Profit margin: 22% (up from 16% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 25
New 90-day high: JP¥1,450 The company is up 12% from its price of JP¥1,294 on 27 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 7.0% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: JP¥1,395 The company is up 9.0% from its price of JP¥1,285 on 09 October 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 5.0% over the same period. Announcement • Sep 03
IwaiCosmo Holdings, Inc. to Report Q2, 2021 Results on Oct 23, 2020 IwaiCosmo Holdings, Inc. announced that they will report Q2, 2021 results on Oct 23, 2020 
