Reported Earnings • Jun 12
First quarter 2027 earnings released: EPS: JP¥42.94 (vs JP¥27.89 in 1Q 2026) First quarter 2027 results: EPS: JP¥42.94 (up from JP¥27.89 in 1Q 2026). Revenue: JP¥67.8b (up 10% from 1Q 2026). Net income: JP¥1.37b (up 53% from 1Q 2026). Profit margin: 2.0% (up from 1.5% in 1Q 2026). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 30th July 2026 Payment date: 20th October 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 61% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 13
Full year 2026 earnings released: EPS: JP¥429 (vs JP¥139 in FY 2025) Full year 2026 results: EPS: JP¥429 (up from JP¥139 in FY 2025). Revenue: JP¥259.7b (up 5.4% from FY 2025). Net income: JP¥4.58b (up 2.0% from FY 2025). Profit margin: 1.8% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Anuncio • Mar 12
Toho Co., Ltd., Annual General Meeting, Apr 28, 2026 Toho Co., Ltd., Annual General Meeting, Apr 28, 2026. Anuncio • Feb 11
Toho Co., Ltd. (TSE:8142) and Shimaya Trading Pte Ltd. completed the acquisition of 40% stake in Kome88 Company Limited from Pham Lich and two other individuals. Toho Co., Ltd. (TSE:8142) and Shimaya Trading Pte Ltd. agreed to acquire 40% stake in Kome88 Company Limited from Pham Lich and two other individuals on November 14, 2025. Upon completion, Toho Co., Ltd. will hold 39 stake while Shimaya Trading Pte Ltd. will hold 1% stake in Kome88 Company Limited
For the period ending December 31, 2024, Kome88 Company Limited reported total revenue of ¥1.34 billion and net income of ¥35 million. As of December 31, 2024, Kome88 Company Limited reported total assets of ¥305 million and total common equity of ¥166 million.
Toho Co., Ltd. (TSE:8142) and Shimaya Trading Pte Ltd. completed the acquisition of 40% stake in Kome88 Company Limited from Pham Lich and two other individuals on February 10, 2026. Upcoming Dividend • Jan 22
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%). Reported Earnings • Dec 13
Third quarter 2026 earnings released: EPS: JP¥162 (vs JP¥95.48 in 3Q 2025) Third quarter 2026 results: EPS: JP¥162 (up from JP¥95.48 in 3Q 2025). Revenue: JP¥66.2b (up 9.2% from 3Q 2025). Net income: JP¥1.72b (up 67% from 3Q 2025). Profit margin: 2.6% (up from 1.7% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 28% per year. Anuncio • Nov 14
Toho Co., Ltd. (TSE:8142) and Shimaya Trading Pte Ltd. agreed to acquire 40% stake in Kome88 Company Limited from Pham Lich and two other individuals. Toho Co., Ltd. (TSE:8142) and Shimaya Trading Pte Ltd. agreed to acquire 40% stake in Kome88 Company Limited from Pham Lich and two other individuals on November 14, 2025.
For the period ending December 31, 2024, Kome88 Company Limited reported total revenue of ¥1.34 billion and net income of ¥35 million. As of December 31, 2024, Kome88 Company Limited reported total assets of ¥305 million and total common equity of ¥166 million. Declared Dividend • Oct 21
First half dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 29th January 2026 Payment date: 24th April 2026 Dividend yield will be 4.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 62% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 12
Second quarter 2026 earnings released: EPS: JP¥65.50 (vs JP¥112 in 2Q 2025) Second quarter 2026 results: EPS: JP¥65.50 (down from JP¥112 in 2Q 2025). Revenue: JP¥61.8b (up 3.6% from 2Q 2025). Net income: JP¥699.0m (down 42% from 2Q 2025). Profit margin: 1.1% (down from 2.0% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 30% per year. Anuncio • Aug 05
Akatsuki Games Inc., Too Co., Ltd., Production I.G, Inc. Announces Kaiju No. 8 the Game Release Set for August 31 Based on Naoya Matsumoto's hit manga series Kaiju No. 8, serialized on Shueisha's Shonen Jump+ and with over 18 million copies printed and distributed in Japan (including digital editions) across 15 published volumes, the anime Kaiju No. 8 has garnered immense popularity not only in Japan but also worldwide, particularly in North America. Building on this global success, Kaiju No. 8 THE GAME, a new title for mobile and PC, is being developed by the powerhouse team of Akatsuki Games, TOHO, and Production I.G. After much anticipation following the start of pre-registration on April 25 this year, the official release date for Kaiju No. 8 THE game has finally been set for August 31 (JST). Additionally, a new trailer and key visual have been unveiled! The artwork features the Japan Defense Force members, armed and ready, with Kaiju No. 8 at the forefront, as well as the original characters from CLOZER led by Sagan Shinomiya. The special program also showcased a stream of newly released in-game footage. In addition to cutscenes featured within the game's story mode, the program unveiled original Kaiju created exclusively for the game. Based on the total number of pre-registrations, players will receive exclusive characters and awesome in-game items when the game launches. Upcoming Dividend • Jul 23
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 20 October 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.7%). Anuncio • Jun 19
Toho Co., Ltd. (TSE:8142) announces an Equity Buyback for 130,000 shares, representing 1.21% for ¥387.4 million. Toho Co., Ltd. (TSE:8142) announces a share repurchase program. Under the program, the company will repurchase up to 130,000 shares, representing 1.21% of its total shares outstanding excluding treasury shares, for a total of ¥387.4 million. The purpose of repurchase program is to improve capital efficiency and implement a flexible capital policy in response to changes in the business
environment. As of May 31, 2025, the company had 10,786,260 shares outstanding excluding treasury shares and has 225,906 shares in treasury. Reported Earnings • Jun 14
First quarter 2026 earnings released: EPS: JP¥102 (vs JP¥99.66 in 1Q 2025) First quarter 2026 results: EPS: JP¥102 (up from JP¥99.66 in 1Q 2025). Revenue: JP¥61.3b (flat on 1Q 2025). Net income: JP¥1.09b (up 2.1% from 1Q 2025). Profit margin: 1.8% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to JP¥3,235. The fair value is estimated to be JP¥2,668, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 52%. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Full-time Auditor Shuichi Fujita was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 08
Final dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 30th July 2025 Payment date: 20th October 2025 Dividend yield will be 4.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 57% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to JP¥3,285. The fair value is estimated to be JP¥2,719, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 52%. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥2,864, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 12x in the Consumer Retailing industry in Japan. Total returns to shareholders of 194% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥3,535, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 13x in the Consumer Retailing industry in Japan. Total returns to shareholders of 234% over the past three years. New Risk • Mar 14
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 6.6% 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 (6.6% average weekly change). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: JP¥417 (vs JP¥335 in FY 2024) Full year 2025 results: EPS: JP¥417 (up from JP¥335 in FY 2024). Revenue: JP¥246.5b (flat on FY 2024). Net income: JP¥4.49b (up 24% from FY 2024). Profit margin: 1.8% (up from 1.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Anuncio • Mar 13
Toho Co., Ltd., Annual General Meeting, Apr 23, 2025 Toho Co., Ltd., Annual General Meeting, Apr 23, 2025. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 24 April 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Reported Earnings • Dec 13
Third quarter 2025 earnings released: EPS: JP¥95.48 (vs JP¥138 in 3Q 2024) Third quarter 2025 results: EPS: JP¥95.48 (down from JP¥138 in 3Q 2024). Revenue: JP¥60.7b (down 2.4% from 3Q 2024). Net income: JP¥1.03b (down 31% from 3Q 2024). Profit margin: 1.7% (down from 2.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Declared Dividend • Oct 19
First half dividend of JP¥55.00 announced Dividend of JP¥55.00 is the same as last year. Ex-date: 30th January 2025 Payment date: 24th April 2025 Dividend yield will be 4.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Sep 12
First half dividend of JP¥55.00 announced Dividend of JP¥55.00 is the same as last year. Ex-date: 30th January 2025 Payment date: 24th April 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 11
Second quarter 2025 earnings released: EPS: JP¥112 (vs JP¥87.85 in 2Q 2024) Second quarter 2025 results: EPS: JP¥112 (up from JP¥87.85 in 2Q 2024). Revenue: JP¥59.7b (down 1.1% from 2Q 2024). Net income: JP¥1.21b (up 28% from 2Q 2024). Profit margin: 2.0% (up from 1.6% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥2,355, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 12x in the Consumer Retailing industry in Japan. Total returns to shareholders of 69% over the past three years. Upcoming Dividend • Jul 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 18 October 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Reported Earnings • Jun 17
First quarter 2025 earnings released: EPS: JP¥99.66 (vs JP¥77.26 in 1Q 2024) First quarter 2025 results: EPS: JP¥99.66 (up from JP¥77.26 in 1Q 2024). Revenue: JP¥61.5b (up 4.9% from 1Q 2024). Net income: JP¥1.07b (up 29% from 1Q 2024). Profit margin: 1.7% (up from 1.4% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. New Risk • Jun 14
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 6.0% 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 High level of debt (43% net debt to equity). 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 (6.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,600, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 14x in the Consumer Retailing industry in Japan. Total returns to shareholders of 138% over the past three years. Declared Dividend • May 25
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 30th July 2024 Payment date: 18th October 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Anuncio • Mar 13
Toho Co., Ltd., Annual General Meeting, Apr 23, 2024 Toho Co., Ltd., Annual General Meeting, Apr 23, 2024. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: JP¥335 (vs JP¥93.52 in FY 2023) Full year 2024 results: EPS: JP¥335 (up from JP¥93.52 in FY 2023). Revenue: JP¥244.9b (up 14% from FY 2023). Net income: JP¥3.61b (up 258% from FY 2023). Profit margin: 1.5% (up from 0.5% in FY 2023). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Anuncio • Jan 26
Toho Co., Ltd. (TSE:8142) completed the acquisition of an additional 42.23% stake in Tokyo Rakutenchi Co.,Ltd. (TSE:8842) for ¥17 billion Toho Co., Ltd. (TSE:8142) made an offer to acquire stake in Tokyo Rakutenchi Co.,Ltd. (TSE:8842) for ¥6720 offer per share on December 6, 2023. SMBC Nikko Securities Inc. acted as Financial advisor and Nishimura & Asahi acted as legal advisor to Toho Co., Ltd. and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as Financial advisor and Anderson Mori & Tomotsune LPC acted as legal advisor to Tokyo Rakutenchi Co.,Ltd. Transaction is expected to complete on January 24, 2024. Toho Co., Ltd. (TSE:8142) completed the acquisition of an additional 42.23% stake in Tokyo Rakutenchi Co.,Ltd. (TSE:8842) for ¥17 billion on January 24, 2024. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥35.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 9.0% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Reported Earnings • Dec 14
Third quarter 2024 earnings released: EPS: JP¥138 (vs JP¥61.45 in 3Q 2023) Third quarter 2024 results: EPS: JP¥138 (up from JP¥61.45 in 3Q 2023). Revenue: JP¥62.2b (up 13% from 3Q 2023). Net income: JP¥1.49b (up 125% from 3Q 2023). Profit margin: 2.4% (up from 1.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Outside Director Hiroshi Harada 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 • Sep 14
Second quarter 2024 earnings released: EPS: JP¥87.85 (vs JP¥46.30 in 2Q 2023) Second quarter 2024 results: EPS: JP¥87.85 (up from JP¥46.30 in 2Q 2023). Revenue: JP¥60.3b (up 15% from 2Q 2023). Net income: JP¥945.0m (up 90% from 2Q 2023). Profit margin: 1.6% (up from 1.0% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 12
Now 22% undervalued Over the last 90 days, the stock is up 27%. The fair value is estimated to be JP¥4,710, 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. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,870, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 15x in the Consumer Retailing industry in Japan. Total returns to shareholders of 111% over the past three years. Upcoming Dividend • Jul 21
Upcoming dividend of JP¥30.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 18 October 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Buying Opportunity • Jun 26
Now 22% undervalued Over the last 90 days, the stock is up 40%. The fair value is estimated to be JP¥3,807, 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. Meanwhile, the company has become profitable. New Risk • Jun 16
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). 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 (6.8% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jun 13
First quarter 2024 earnings released: EPS: JP¥77.26 (vs JP¥12.36 in 1Q 2023) First quarter 2024 results: EPS: JP¥77.26 (up from JP¥12.36 in 1Q 2023). Revenue: JP¥58.7b (up 22% from 1Q 2023). Net income: JP¥831.0m (up JP¥698.0m from 1Q 2023). Profit margin: 1.4% (up from 0.3% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥2,948, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 15x in the Consumer Retailing industry in Japan. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,010, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 13x in the Consumer Retailing industry in Japan. Total returns to shareholders of 51% over the past three years. Reported Earnings • Mar 11
Full year 2023 earnings released: EPS: JP¥93.52 (vs JP¥31.14 in FY 2022) Full year 2023 results: EPS: JP¥93.52 (up from JP¥31.14 in FY 2022). Revenue: JP¥215.6b (up 14% from FY 2022). Net income: JP¥1.01b (up 200% from FY 2022). Profit margin: 0.5% (up from 0.2% in FY 2022). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 January 2023. Payment date: 20 April 2023. Payout ratio is a comfortable 5.8% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.6%). Reported Earnings • Dec 14
Third quarter 2023 earnings released: EPS: JP¥61.45 (vs JP¥37.19 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥61.45 (up from JP¥37.19 loss in 3Q 2022). Revenue: JP¥55.1b (up 23% from 3Q 2022). Net income: JP¥661.0m (up JP¥1.06b from 3Q 2022). Profit margin: 1.2% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. No independent directors (9 non-independent directors). External Director Hiroji Izumi was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 11
Second quarter 2023 earnings released: EPS: JP¥46.30 (vs JP¥76.88 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥46.30 (up from JP¥76.88 loss in 2Q 2022). Revenue: JP¥52.3b (up 19% from 2Q 2022). Net income: JP¥498.0m (up JP¥1.33b from 2Q 2022). Profit margin: 1.0% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 13
First quarter 2023 earnings released: EPS: JP¥12.36 (vs JP¥5.30 in 1Q 2022) First quarter 2023 results: EPS: JP¥12.36 (up from JP¥5.30 in 1Q 2022). Revenue: JP¥48.0b (up 4.7% from 1Q 2022). Net income: JP¥133.0m (up 133% from 1Q 2022). Profit margin: 0.3% (up from 0.1% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. No independent directors (10 non-independent directors). External Director Hiroji Izumi was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 12
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥31.14 (up from JP¥334 loss in FY 2021). Revenue: JP¥188.6b (up 1.3% from FY 2021). Net income: JP¥335.0m (up JP¥3.93b from FY 2021). Profit margin: 0.2% (up from net loss in FY 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: JP¥37.19 loss per share (down from JP¥29.93 loss in 3Q 2021). Revenue: JP¥44.8b (down 7.1% from 3Q 2021). Net loss: JP¥400.0m (loss widened 24% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 11
Second quarter 2022 earnings released: JP¥76.88 loss per share (vs JP¥156 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: JP¥43.9b (up 3.7% from 2Q 2021). Net loss: JP¥827.0m (loss narrowed 51% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance.