Reported Earnings • May 19
Full year 2026 earnings released: JP¥11.74 loss per share (vs JP¥1.93 loss in FY 2025) Full year 2026 results: JP¥11.74 loss per share (further deteriorated from JP¥1.93 loss in FY 2025). Revenue: JP¥4.92b (up 15% from FY 2025). Net loss: JP¥146.0m (loss widened JP¥122.0m from FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. New Risk • May 19
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.06x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.06x net interest cover). Minor Risk Market cap is less than US$100m (JP¥5.16b market cap, or US$32.4m). Ankündigung • May 14
ASNOVA Co., Ltd., Annual General Meeting, Jun 25, 2026 ASNOVA Co., Ltd., Annual General Meeting, Jun 25, 2026. Ankündigung • May 10
ASNOVA Co., Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 ASNOVA Co., Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥1.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.1%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥5.15 (vs JP¥4.82 in 3Q 2025) Third quarter 2026 results: EPS: JP¥5.15 (up from JP¥4.82 in 3Q 2025). Revenue: JP¥1.40b (up 19% from 3Q 2025). Net income: JP¥64.0m (up 6.7% from 3Q 2025). Profit margin: 4.6% (down from 5.1% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Ankündigung • Dec 27
ASNOVA Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 ASNOVA Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released: JP¥2.98 loss per share (vs JP¥0.64 profit in 2Q 2025) Second quarter 2026 results: JP¥2.98 loss per share (down from JP¥0.64 profit in 2Q 2025). Revenue: JP¥1.32b (up 29% from 2Q 2025). Net loss: JP¥37.0m (down JP¥45.0m from profit in 2Q 2025). Upcoming Dividend • Sep 22
Upcoming dividend of JP¥1.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.9%). Ankündigung • Sep 01
ASNOVA Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 ASNOVA Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 16
First quarter 2026 earnings released: JP¥9.81 loss per share (vs JP¥2.65 loss in 1Q 2025) First quarter 2026 results: JP¥9.81 loss per share (further deteriorated from JP¥2.65 loss in 1Q 2025). Revenue: JP¥902.0m (down 4.3% from 1Q 2025). Net loss: JP¥122.0m (loss widened 270% from 1Q 2025). Ankündigung • Jun 27
ASNOVA Co., Ltd. to Report Q1, 2026 Results on Aug 12, 2025 ASNOVA Co., Ltd. announced that they will report Q1, 2026 results on Aug 12, 2025 Reported Earnings • May 19
Full year 2025 earnings released: JP¥1.93 loss per share (vs JP¥16.98 profit in FY 2024) Full year 2025 results: JP¥1.93 loss per share (down from JP¥16.98 profit in FY 2024). Revenue: JP¥4.27b (up 13% from FY 2024). Net loss: JP¥24.0m (down 111% from profit in FY 2024). Ankündigung • May 15
ASNOVA Co., Ltd., Annual General Meeting, Jun 26, 2025 ASNOVA Co., Ltd., Annual General Meeting, Jun 26, 2025. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥599, the stock trades at a trailing P/E ratio of 60.6x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 4.9% over the past year. Ankündigung • Apr 03
ASNOVA Co., Ltd. (TSE:9223) completed the acquisition of Qool Enviro Pte Ltd from Teo Beng Li Cindy, Koh Teck Huat Andrew and Ngui Kok Foong. ASNOVA Co., Ltd. (TSE:9223) agreed to acquire Qool Enviro Pte Ltd from Teo Beng Li Cindy, Koh Teck Huat Andrew and Ngui Kok Foong on March 17, 2025. The estimated transaction consideration is SGD 17.992 million (¥2 billion).
The expected completion of the transaction is April 1, 2025.
ASNOVA Co., Ltd. (TSE:9223) completed the acquisition of Qool Enviro Pte Ltd from Teo Beng Li Cindy, Koh Teck Huat Andrew and Ngui Kok Foong on April 1, 2025. For the year ending December 31, 2025, Qool Enviro Pte had sales of SGD 8.310484 million, operating profit of SGD 2.187433 million and net profit of SGD 2.214480 million. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥1.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥4.82 (vs JP¥6.56 in 3Q 2024) Third quarter 2025 results: EPS: JP¥4.82 (down from JP¥6.56 in 3Q 2024). Revenue: JP¥1.18b (up 12% from 3Q 2024). Net income: JP¥60.0m (down 26% from 3Q 2024). Profit margin: 5.1% (down from 7.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Ankündigung • Dec 03
ASNOVA Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 ASNOVA Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 New Risk • Nov 26
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). High level of non-cash earnings (27% accrual ratio). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (JP¥7.25b market cap, or US$47.0m). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥1.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.3%). Ankündigung • Aug 29
ASNOVA Co., Ltd. to Report Q2, 2025 Results on Nov 14, 2024 ASNOVA Co., Ltd. announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: JP¥2.65 loss per share (vs JP¥1.73 profit in 1Q 2024) First quarter 2025 results: JP¥2.65 loss per share (down from JP¥1.73 profit in 1Q 2024). Revenue: JP¥943.0m (up 20% from 1Q 2024). Net loss: JP¥33.0m (down 162% from profit in 1Q 2024). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥500, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total loss to shareholders of 20% over the past year. Ankündigung • Jun 21
ASNOVA Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 ASNOVA Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Ankündigung • May 16
ASNOVA Co., Ltd., Annual General Meeting, Jun 26, 2024 ASNOVA Co., Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥2.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.4%). Ankündigung • Mar 20
ASNOVA Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 ASNOVA Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Ankündigung • Dec 29
ASNOVA Co., Ltd. to Report Q3, 2024 Results on Feb 14, 2024 ASNOVA Co., Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Ankündigung • Dec 06
ASNOVA Co., Ltd. has filed a Follow-on Equity Offering. ASNOVA Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 50,000
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 430,000 Ankündigung • Apr 23
ASNOVA Co., Ltd. has completed an IPO in the amount of ¥361.86 million. ASNOVA Co., Ltd. has completed an IPO in the amount of ¥361.86 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 222,000
Price\Range: ¥1630
Discount Per Security: ¥130.4 
