Announcement • Jun 03
Ichiyoshi Securities Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Ichiyoshi Securities Co., Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Reported Earnings • Apr 29
Full year 2026 earnings released: EPS: JP¥137 (vs JP¥47.11 in FY 2025) Full year 2026 results: EPS: JP¥137 (up from JP¥47.11 in FY 2025). Revenue: JP¥24.5b (up 31% from FY 2025). Net income: JP¥4.39b (up 181% from FY 2025). Profit margin: 18% (up from 8.3% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 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 42% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 20, 2026 Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 20, 2026. Announcement • Apr 21
Ichiyoshi Securities Co., Ltd. to Report Fiscal Year 2026 Results on Apr 28, 2026 Ichiyoshi Securities Co., Ltd. announced that they will report fiscal year 2026 results on Apr 28, 2026 Declared Dividend • Mar 19
Dividend of JP¥34.00 announced Shareholders will receive a dividend of JP¥34.00. Ex-date: 30th March 2026 Payment date: 1st June 2026 Dividend yield will be 4.5%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (20% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 109% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Mar 04
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 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,515, the stock trades at a trailing P/E ratio of 18.1x. Average forward P/E is 16x in the Capital Markets industry in Japan. Total returns to shareholders of 176% over the past three years. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥38.36 (vs JP¥10.54 in 3Q 2025) Third quarter 2026 results: EPS: JP¥38.36 (up from JP¥10.54 in 3Q 2025). Revenue: JP¥6.60b (up 40% from 3Q 2025). Net income: JP¥1.23b (up 248% from 3Q 2025). Profit margin: 19% (up from 7.5% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Japan are expected to grow by 2.7%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Ichiyoshi Securities Co., Ltd. to Report Q3, 2026 Results on Jan 29, 2026 Ichiyoshi Securities Co., Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.7% 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 9.7% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥33.19 (vs JP¥13.32 in 2Q 2025) Second quarter 2026 results: EPS: JP¥33.19 (up from JP¥13.32 in 2Q 2025). Revenue: JP¥5.96b (up 26% from 2Q 2025). Net income: JP¥1.06b (up 135% from 2Q 2025). Profit margin: 18% (up from 9.6% 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 2.6% 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 but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Ichiyoshi Securities Co., Ltd. to Report Q2, 2026 Results on Oct 30, 2025 Ichiyoshi Securities Co., Ltd. announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥7.10 (vs JP¥17.43 in 1Q 2025) First quarter 2026 results: EPS: JP¥7.10 (down from JP¥17.43 in 1Q 2025). Revenue: JP¥4.62b (down 7.5% from 1Q 2025). Net income: JP¥226.0m (down 62% from 1Q 2025). Profit margin: 4.9% (down from 12% in 1Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Capital Markets 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 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 21
Final dividend of JP¥17.00 announced Dividend of JP¥17.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 26th November 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (52% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it 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. 5 experienced directors. 2 highly experienced directors. Independent Outside Director Eiji Hirano was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 31
Ichiyoshi Securities Co., Ltd. to Report Q1, 2026 Results on Jul 30, 2025 Ichiyoshi Securities Co., Ltd. announced that they will report Q1, 2026 results on Jul 30, 2025 Buy Or Sell Opportunity • May 07
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to JP¥727. The fair value is estimated to be JP¥603, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.1%. Revenue is forecast to grow by 5.0% in 2 years. Earnings are forecast to grow by 41% in the next 2 years. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: JP¥47.11 (vs JP¥57.09 in FY 2024) Full year 2025 results: EPS: JP¥47.11 (down from JP¥57.09 in FY 2024). Revenue: JP¥18.8b (flat on FY 2024). Net income: JP¥1.56b (down 19% from FY 2024). Profit margin: 8.3% (down from 10% in FY 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Capital Markets industry in Japan. 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 9% per year. Announcement • Apr 28
Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 21, 2025 Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 21, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥614, the stock trades at a trailing P/E ratio of 8.8x. Average forward P/E is 11x in the Capital Markets industry in Japan. Total returns to shareholders of 18% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 02 June 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.4%). Declared Dividend • Mar 06
Dividend of JP¥17.00 announced Dividend of JP¥17.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 2nd June 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 01
Ichiyoshi Securities Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2025 Ichiyoshi Securities Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2025 Announcement • Feb 12
Ichiyoshi Securities Co., Ltd. (TSE:8624) announces an Equity Buyback for 300,000 shares, representing 0.94% for ¥247.2 million. Ichiyoshi Securities Co., Ltd. (TSE:8624) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 0.94% of its issued share capital (excluding treasury stock), for a total purchase price of ¥247.2 million. The shares will be repurchased at a price of ¥824 per share. The purpose of the program is to heighten mobility on capital management in line with changes in business environments. As of December 31, 2024, the company had 32,020,316 issued shares (excluding treasury stock) and 5,911,070 treasury shares. Buy Or Sell Opportunity • Feb 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.3% to JP¥823. The fair value is estimated to be JP¥1,044, 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 declined by 3.5%. Revenue is forecast to decline by 0.5% in 2 years. Earnings are forecast to grow by 1.8% in the next 2 years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: JP¥10.43 (vs JP¥7.66 in 3Q 2024) Third quarter 2025 results: EPS: JP¥10.43 (up from JP¥7.66 in 3Q 2024). Revenue: JP¥4.72b (up 9.1% from 3Q 2024). Net income: JP¥346.0m (up 34% from 3Q 2024). Profit margin: 7.3% (up from 6.0% 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 5.3% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Dec 24
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 39% to JP¥969. The fair value is estimated to be JP¥807, however this is not to be taken as a sell 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 16%. Revenue is forecast to grow by 1.3% in 2 years. Earnings are forecast to grow by 4.0% in the next 2 years. Buy Or Sell Opportunity • Dec 02
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to JP¥1,002. The fair value is estimated to be JP¥820, however this is not to be taken as a sell 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 16%. Revenue is forecast to grow by 1.3% in 2 years. Earnings are forecast to grow by 4.0% in the next 2 years. Announcement • Nov 30
Ichiyoshi Securities Co., Ltd. to Report Q3, 2025 Results on Jan 30, 2025 Ichiyoshi Securities Co., Ltd. announced that they will report Q3, 2025 results on Jan 30, 2025 Buy Or Sell Opportunity • Nov 12
Now 20% undervalued Over the last 90 days, the stock has risen 20% to JP¥851. The fair value is estimated to be JP¥1,067, 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 16%. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥13.32 (vs JP¥11.13 in 2Q 2024) Second quarter 2025 results: EPS: JP¥13.32 (up from JP¥11.13 in 2Q 2024). Revenue: JP¥4.72b (up 3.0% from 2Q 2024). Net income: JP¥451.0m (up 20% from 2Q 2024). Profit margin: 9.6% (up from 8.2% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥773, the stock trades at a trailing P/E ratio of 12.8x. Average forward P/E is 15x in the Capital Markets industry in Japan. Total returns to shareholders of 39% over the past three years. Announcement • Oct 30
Ichiyoshi Securities Co., Ltd. (TSE:8624) announces an Equity Buyback for 2,000,000 shares, representing 5.91% for ¥1,700 million. Ichiyoshi Securities Co., Ltd. (TSE:8624) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 5.91% of its issued share capital, for ¥1,700 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment. The program is valid till December 23, 2024. As of September 30, 2024, there are 33,856,036 outstanding shares (excluding treasury stock) and 4,075,350 treasury shares. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.2%). Announcement • Sep 18
Ichiyoshi Securities Co., Ltd. Announces Provisionally Decision on an Amount of Semi-Annual Dividend for the Fiscal Year Ending March 31, 2025 Ichiyoshi Securities Co., Ltd. at its board meeting held on September 18, 2024, provisionally decided on an amount of semi-annual dividend per share payable to shareholders of record as of September 30, 2024 as detailed below. Final decision on the amount of the semi-annual dividend will be made by the Board of Directors when it meets in the latter half of October to finalize the Company's business result for the first two quarters of the fiscal year ending March 31, 2025. Provisionally-decided amount of semi-annual dividend: JPY 17 per share. Announcement • Aug 27
Ichiyoshi Securities Co., Ltd. to Report Q2, 2025 Results on Oct 30, 2024 Ichiyoshi Securities Co., Ltd. announced that they will report Q2, 2025 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥669, the stock trades at a trailing P/E ratio of 11.1x. Average forward P/E is 11x in the Capital Markets industry in Japan. Total returns to shareholders of 29% over the past three years. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change). Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: JP¥17.43 (vs JP¥14.16 in 1Q 2024) First quarter 2025 results: EPS: JP¥17.43 (up from JP¥14.16 in 1Q 2024). Revenue: JP¥4.99b (up 9.2% from 1Q 2024). Net income: JP¥590.0m (up 23% from 1Q 2024). Profit margin: 12% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Jul 19
Final dividend of JP¥17.00 announced Dividend of JP¥17.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 4.1%, which is higher than the industry average of 2.8%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Jun 02
Ichiyoshi Securities Co., Ltd. to Report Q1, 2025 Results on Jul 30, 2024 Ichiyoshi Securities Co., Ltd. announced that they will report Q1, 2025 results on Jul 30, 2024 Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥57.09 (vs JP¥21.81 in FY 2023) Full year 2024 results: EPS: JP¥57.09 (up from JP¥21.81 in FY 2023). Revenue: JP¥18.8b (up 13% from FY 2023). Net income: JP¥1.93b (up 156% from FY 2023). Profit margin: 10% (up from 4.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.1% 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 fallen by 20% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 01
Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 22, 2024 Ichiyoshi Securities Co., Ltd., Annual General Meeting, Jun 22, 2024. Announcement • Mar 21
Ichiyoshi Securities Co., Ltd. Announces Provisional Decision on Final Dividend for the Year Ending March 31, 2024 The Board of Directors of Ichiyoshi Securities Co., Ltd. at its meeting held on March 19, 2024, provisionally decided on an amount of final dividend per share payable to shareholders of record as of March 31, 2024. Final decision on the amount of final dividend will be made by the Board of Directors when it meets in mid-May to finalize the company's business result for the fiscal year ending March 31, 2024. Provisionally-decided amount of final dividend for fiscal year ending March 31, 2024: JPY 17 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 31 May 2024. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.4%). Declared Dividend • Mar 02
Dividend of JP¥17.00 announced Dividend of JP¥17.00 is the same as last year. Ex-date: 28th March 2024 Payment date: 31st May 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 42% to shift the payout ratio to a potentially unsustainable range, which is more than the 14% EPS decline seen over the last 5 years. Announcement • Mar 02
Ichiyoshi Securities Co., Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2024 Ichiyoshi Securities Co., Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2024 Reported Earnings • Jan 31
Third quarter 2024 earnings released: EPS: JP¥7.66 (vs JP¥4.90 in 3Q 2023) Third quarter 2024 results: EPS: JP¥7.66 (up from JP¥4.90 in 3Q 2023). Revenue: JP¥4.33b (up 5.7% from 3Q 2023). Net income: JP¥259.0m (up 54% from 3Q 2023). Profit margin: 6.0% (up from 4.1% 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 11% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jan 30
Ichiyoshi Securities Co., Ltd. Announces Dividend for the Second Quarter of Fiscal Year Ended March 31, 2024 Ichiyoshi Securities Co., Ltd. announced dividend of JPY 17.00 per share for the second quarter of fiscal year ended March 31, 2024 against JPY 17.00 per share paid for the same period a year ago. Announcement • Nov 29
Ichiyoshi Securities Co., Ltd. to Report Q3, 2024 Results on Jan 30, 2024 Ichiyoshi Securities Co., Ltd. announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥11.13 (vs JP¥6.95 in 2Q 2023) Second quarter 2024 results: EPS: JP¥11.13 (up from JP¥6.95 in 2Q 2023). Revenue: JP¥4.58b (up 9.7% from 2Q 2023). Net income: JP¥376.0m (up 58% from 2Q 2023). Profit margin: 8.2% (up from 5.7% in 2Q 2023). The increase in margin was driven by higher revenue. 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 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥17.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 25 November 2023. The company is paying out more than 100% of its profits and is paying out 96% of its cash flow. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.9%). Announcement • Sep 20
Ichiyoshi Securities Co., Ltd. Announces Provisionally Decision on an Amount of Semi-Annual Dividend for the Fiscal Year Ending March 31, 2024 Ichiyoshi Securities Co., Ltd. at its board meeting held on September 20, 2023 provisionally decided on an amount of semi-annual dividend per share payable to shareholders of record as of September 30, 2023 as detailed below. Final decision on the amount of the semi-annual dividend will be made by the Board of Directors when it meets in the latter half of October to finalize the Company's business result for the first two quarters of the fiscal year ending March 31, 2024. Provisionally-decided amount of semi-annual dividend: JPY 17 per share. Announcement • Aug 31
Ichiyoshi Securities Co., Ltd. to Report Q2, 2024 Results on Oct 30, 2023 Ichiyoshi Securities Co., Ltd. announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥14.16 (vs JP¥7.37 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.16 (up from JP¥7.37 in 1Q 2023). Revenue: JP¥4.57b (up 5.4% from 1Q 2023). Net income: JP¥478.0m (up 82% from 1Q 2023). Profit margin: 11% (up from 6.0% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Ichiyoshi Securities Co., Ltd. to Report Q1, 2024 Results on Jul 28, 2023 Ichiyoshi Securities Co., Ltd. announced that they will report Q1, 2024 results on Jul 28, 2023 Announcement • May 19
Ichiyoshi Securities Co., Ltd. Announces Final Dividend for Fiscal Year Ended March 31, 2023, Payable on May 31, 2023 The Board of Directors of Ichiyoshi Securities Co., Ltd. at its meeting on May 16, 2023, decided on the amount of final dividend of JPY 17 per share for the fiscal year ended May 31, 2023 against previous dividend of JPY 19 per share paid a year ago. Effective date for payment is May 31, 2023. Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥21.81 (vs JP¥69.97 in FY 2022) Full year 2023 results: EPS: JP¥21.81 (down from JP¥69.97 in FY 2022). Revenue: JP¥16.6b (down 15% from FY 2022). Net income: JP¥754.0m (down 70% from FY 2022). Profit margin: 4.5% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
Ichiyoshi Securities Co., Ltd. Announces Dividend for the Second Quarter of Fiscal Year Ended March 31, 2023 Ichiyoshi Securities Co., Ltd. announced dividend of JPY 17.00 per share for the second quarter of fiscal year ended March 31, 2023 against JPY 19.00 per share paid for the same period a year ago. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥4.90 (vs JP¥21.66 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.90 (down from JP¥21.66 in 3Q 2022). Revenue: JP¥4.10b (down 22% from 3Q 2022). Net income: JP¥168.0m (down 79% from 3Q 2022). Profit margin: 4.1% (down from 15% 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 74% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Nov 27
Ichiyoshi Securities Co., Ltd. to Report Q3, 2023 Results on Jan 30, 2023 Ichiyoshi Securities Co., Ltd. announced that they will report Q3, 2023 results on Jan 30, 2023 Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director Eiji Hirano was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: JP¥6.95 (vs JP¥19.83 in 2Q 2022) Second quarter 2023 results: EPS: JP¥6.95 (down from JP¥19.83 in 2Q 2022). Revenue: JP¥4.18b (down 16% from 2Q 2022). Net income: JP¥238.0m (down 67% from 2Q 2022). Profit margin: 5.7% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 25 November 2022. Payout ratio is a comfortable 68% and the cash payout ratio is 83%. Trailing yield: 5.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (4.5%). Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director Eiji Hirano was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥7.37 (vs JP¥21.74 in 1Q 2022) First quarter 2023 results: EPS: JP¥7.37 (down from JP¥21.74 in 1Q 2022). Revenue: JP¥4.34b (down 16% from 1Q 2022). Net income: JP¥262.0m (down 67% from 1Q 2022). Profit margin: 6.0% (down from 15% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 8.1%, compared to a 4.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Jun 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent External Director Yoko Mashimo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥69.97 (vs JP¥27.78 in FY 2021) Full year 2022 results: EPS: JP¥69.97 (up from JP¥27.78 in FY 2021). Revenue: JP¥19.6b (flat on FY 2021). Net income: JP¥2.53b (up 152% from FY 2021). Profit margin: 13% (up from 5.1% in FY 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 1.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥21.66 (up from JP¥12.79 in 3Q 2021). Revenue: JP¥5.22b (flat on 3Q 2021). Net income: JP¥782.0m (up 70% from 3Q 2021). Profit margin: 15% (up from 8.9% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥19.83 (vs JP¥1.53 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥4.95b (up 8.3% from 2Q 2021). Net income: JP¥716.0m (up JP¥661.0m from 2Q 2021). Profit margin: 14% (up from 1.2% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 25 November 2021. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (4.2%). Reported Earnings • Aug 01
First quarter 2022 earnings released: EPS JP¥21.74 (vs JP¥11.25 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥5.15b (up 24% from 1Q 2021). Net income: JP¥785.0m (up JP¥1.19b from 1Q 2021). Profit margin: 15% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Reported Earnings • May 01
Full year 2021 earnings released: EPS JP¥27.78 (vs JP¥17.72 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥19.7b (up 5.1% from FY 2020). Net income: JP¥1.00b (up JP¥1.73b from FY 2020). Profit margin: 5.1% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 22
New 90-day high: JP¥637 The company is up 39% from its price of JP¥457 on 24 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 15% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: JP¥538 The company is up 27% from its price of JP¥423 on 06 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 9.0% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥12.79 (vs JP¥5.13 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.18b (up 16% from 3Q 2020). Net income: JP¥461.0m (up JP¥673.0m from 3Q 2020). Profit margin: 8.9% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 08
New 90-day high: JP¥489 The company is up 4.0% from its price of JP¥471 on 09 October 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 5.0% over the same period. Announcement • Nov 29
Ichiyoshi Securities Co., Ltd. to Report Q3, 2021 Results on Jan 28, 2021 Ichiyoshi Securities Co., Ltd. announced that they will report Q3, 2021 results on Jan 28, 2021 Announcement • Aug 30
Ichiyoshi Securities Co., Ltd. to Report Q2, 2021 Results on Oct 29, 2020 Ichiyoshi Securities Co., Ltd. announced that they will report Q2, 2021 results on Oct 29, 2020 Announcement • Jun 29
Ichiyoshi Securities Co., Ltd. to Report Q1, 2021 Results on Jul 30, 2020 Ichiyoshi Securities Co., Ltd. announced that they will report Q1, 2021 results on Jul 30, 2020 
