Declared Dividend • Jun 09
First half dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 29th September 2026 Payment date: 24th December 2026 Dividend yield will be 1.4%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (dividend approximately 56x free cash flows). The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥2,055, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 13x in the Consumer Retailing industry in Japan. Total returns to shareholders of 87% over the past three years. Reported Earnings • May 20
Second quarter 2026 earnings released: EPS: JP¥27.74 (vs JP¥26.06 in 2Q 2025) Second quarter 2026 results: EPS: JP¥27.74 (up from JP¥26.06 in 2Q 2025). Revenue: JP¥30.9b (up 4.1% from 2Q 2025). Net income: JP¥1.64b (up 6.8% from 2Q 2025). Profit margin: 5.3% (up from 5.2% 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 5.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,983, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 13x in the Consumer Retailing industry in Japan. Total returns to shareholders of 94% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 09 June 2026. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.7%). Reported Earnings • Feb 16
First quarter 2026 earnings released: EPS: JP¥20.49 (vs JP¥2.27 in 1Q 2025) First quarter 2026 results: EPS: JP¥20.49 (up from JP¥2.27 in 1Q 2025). Revenue: JP¥33.3b (down 1.3% from 1Q 2025). Net income: JP¥1.21b (up JP¥1.08b from 1Q 2025). Profit margin: 3.6% (up from 0.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Annonce • Feb 14
Yokorei Co.,Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending March 31, 2026 and Fiscal Year Ending September 30, 2026 Yokorei Co.,Ltd. provided consolidated earnings guidance for the six months ending March 31, 2026 and fiscal year ending September 30, 2026. For the six months, the company expected net sales of JPY 58,000 million, operating profit of JPY 2,450 million, profit attributable to owners of parent of JPY 1,550 million and Basic earnings per share of JPY 26.27.
For the fiscal year, the company expected net sales of JPY 118,000 million, operating profit of JPY 4,800 million, profit attributable to owners of parent of JPY 3,000 million and Basic earnings per share of JPY 50.85. Declared Dividend • Jan 08
Final dividend of JP¥12.00 announced Dividend of JP¥12.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 9th June 2026 Dividend yield will be 2.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (72% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Dec 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Outside Independent Director Masako Natori was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥33.55 (down from JP¥66.78 in FY 2024). Revenue: JP¥125.6b (up 2.7% from FY 2024). Net income: JP¥1.98b (down 50% from FY 2024). Profit margin: 1.6% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 34%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥33.55 (down from JP¥66.78 in FY 2024). Revenue: JP¥125.6b (up 2.7% from FY 2024). Net income: JP¥1.98b (down 50% from FY 2024). Profit margin: 1.6% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 34%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Annonce • Nov 13
Yokorei Co.,Ltd., Annual General Meeting, Dec 23, 2025 Yokorei Co.,Ltd., Annual General Meeting, Dec 23, 2025. Annonce • Oct 31
Yokorei Co.,Ltd. to Report Fiscal Year 2025 Results on Nov 13, 2025 Yokorei Co.,Ltd. announced that they will report fiscal year 2025 results on Nov 13, 2025 New Risk • Sep 30
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 Risks Debt is not well covered by operating cash flow (7.4% operating cash flow to total debt). Earnings are forecast to decline by an average of 9.7% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 26 December 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 15
Third quarter 2025 earnings released: EPS: JP¥10.49 (vs JP¥9.57 in 3Q 2024) Third quarter 2025 results: EPS: JP¥10.49 (up from JP¥9.57 in 3Q 2024). Revenue: JP¥31.8b (up 2.1% from 3Q 2024). Net income: JP¥619.0m (up 9.8% from 3Q 2024). Profit margin: 1.9% (up from 1.8% in 3Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Jul 17
Yokorei Co.,Ltd. to Report Q3, 2025 Results on Aug 13, 2025 Yokorei Co.,Ltd. announced that they will report Q3, 2025 results on Aug 13, 2025 Annonce • Jul 15
Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion. Bain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion on May 12, 2025. A cash consideration of ¥112.19 billion valued at ¥8100 per share will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥112.19 billion is paid towards common equity of Nissin Corporation. The deal is to be financed through equity invesmtent of ¥18.7 million and senior debt of ¥94.3 million.
The transaction is subject to minimum tender. The expected completion of the transaction is July 8, 2025. As of May 26, 2025, the Offeror received from the German Federal Cartel Office, a notice to the effect that the acquisition of the Target Shares does not meet the criteria for prohibition and is permitted, meaning that the acquisition of the Target Shares was approved as of the same date. On June 11, 2025, the Austrian Federal Competition Authority has approved the transaction. As of June 30, 2025, the offeror has decided to extend the Tender Offer Period to July 14, 2025, which is 10 business days after June 30, 2025.
Daiwa Securities Co., Ltd. acted as tender offer agent for Bain Capital Private Equity, LP.
Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion on July 14, 2025. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,057, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Consumer Retailing industry in Japan. Total returns to shareholders of 25% over the past three years. Major Estimate Revision • Jul 02
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥127.5b to JP¥129.5b. EPS estimate increased from JP¥49.20 to JP¥54.20 per share. Net income forecast to shrink 23% next year vs 9.3% growth forecast for Consumer Retailing industry in Japan . Consensus price target of JP¥900 unchanged from last update. Share price was steady at JP¥866 over the past week. Annonce • Jun 26
Yokorei Co.,Ltd. Provides Earnings Guidance for Fy 2030 Yokorei Co.,Ltd. provided earnings guidance for fy 2030. For the period, the company expects net sales of ¥1,700 million and operating income of ¥100 million. Declared Dividend • Jun 10
First half dividend of JP¥12.00 announced Dividend of JP¥12.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 26th December 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Reported Earnings • May 20
Second quarter 2025 earnings released: EPS: JP¥26.06 (vs JP¥2.70 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥26.06 (up from JP¥2.70 loss in 2Q 2024). Revenue: JP¥29.7b (up 8.2% from 2Q 2024). Net income: JP¥1.54b (up JP¥1.70b from 2Q 2024). Profit margin: 5.2% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annonce • Apr 24
Yokorei Co.,Ltd. to Report Q2, 2025 Results on May 15, 2025 Yokorei Co.,Ltd. announced that they will report Q2, 2025 results on May 15, 2025 Major Estimate Revision • Apr 02
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥134.0b to JP¥127.5b. EPS estimate also fell from JP¥66.20 per share to JP¥49.20 per share. Net income forecast to grow 9.6% next year vs 13% growth forecast for Consumer Retailing industry in Japan. Consensus price target down from JP¥1,300 to JP¥900. Share price fell 8.5% to JP¥823 over the past week. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 10 June 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 16
First quarter 2025 earnings released: EPS: JP¥2.27 (vs JP¥21.43 in 1Q 2024) First quarter 2025 results: EPS: JP¥2.27 (down from JP¥21.43 in 1Q 2024). Revenue: JP¥33.8b (up 3.6% from 1Q 2024). Net income: JP¥134.0m (down 89% from 1Q 2024). Profit margin: 0.4% (down from 3.9% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annonce • Feb 08
Yokorei Co.,Ltd. to Report Q1, 2025 Results on Feb 14, 2025 Yokorei Co.,Ltd. announced that they will report Q1, 2025 results on Feb 14, 2025 Reported Earnings • Jan 08
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥66.78 (up from JP¥48.15 in FY 2023). Revenue: JP¥122.3b (down 8.7% from FY 2023). Net income: JP¥3.93b (up 39% from FY 2023). Profit margin: 3.2% (up from 2.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 9.1%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annonce • Nov 14
Yokorei Co.,Ltd., Annual General Meeting, Dec 25, 2024 Yokorei Co.,Ltd., Annual General Meeting, Dec 25, 2024. Annonce • Oct 10
Yokorei Co.,Ltd. to Report Fiscal Year 2024 Results on Nov 14, 2024 Yokorei Co.,Ltd. announced that they will report fiscal year 2024 results on Nov 14, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 25 December 2024. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 19
Third quarter 2024 earnings released: EPS: JP¥18.60 (vs JP¥19.30 in 3Q 2023) Third quarter 2024 results: EPS: JP¥18.60 (down from JP¥19.30 in 3Q 2023). Revenue: JP¥31.8b (down 11% from 3Q 2023). Net income: JP¥1.10b (down 3.4% from 3Q 2023). Profit margin: 3.4% (up from 3.2% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Jul 26
Price target increased by 13% to JP¥1,300 Up from JP¥1,150, the current price target is provided by 1 analyst. New target price is 25% above last closing price of JP¥1,040. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥56.00 for next year compared to JP¥48.15 last year. Reported Earnings • May 18
Second quarter 2024 earnings released: EPS: JP¥6.09 (vs JP¥7.55 in 2Q 2023) Second quarter 2024 results: EPS: JP¥6.09 (down from JP¥7.55 in 2Q 2023). Revenue: JP¥28.7b (down 5.9% from 2Q 2023). Net income: JP¥359.0m (down 19% from 2Q 2023). Profit margin: 1.2% (down from 1.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.5%). Annonce • Mar 15
Yokorei Co.,Ltd. to Report Q2, 2024 Results on May 14, 2024 Yokorei Co.,Ltd. announced that they will report Q2, 2024 results on May 14, 2024 Reported Earnings • Feb 14
First quarter 2024 earnings released: EPS: JP¥21.85 (vs JP¥12.68 in 1Q 2023) First quarter 2024 results: EPS: JP¥21.85 (up from JP¥12.68 in 1Q 2023). Revenue: JP¥33.3b (up 1.7% from 1Q 2023). Net income: JP¥1.29b (up 72% from 1Q 2023). Profit margin: 3.9% (up from 2.3% in 1Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Annonce • Jan 27
Yokorei Co.,Ltd. to Report Q1, 2024 Results on Feb 13, 2024 Yokorei Co.,Ltd. announced that they will report Q1, 2024 results on Feb 13, 2024 Major Estimate Revision • Dec 27
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥141.5b to JP¥140.0b. EPS estimate also fell from JP¥66.40 per share to JP¥51.00 per share. Net income forecast to grow 6.0% next year vs 7.8% growth forecast for Consumer Retailing industry in Japan. Consensus price target down from JP¥1,300 to JP¥1,000. Share price was steady at JP¥1,048 over the past week. Reported Earnings • Nov 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥48.15 (down from JP¥56.34 in FY 2022). Revenue: JP¥133.9b (up 16% from FY 2022). Net income: JP¥2.83b (down 15% from FY 2022). Profit margin: 2.1% (down from 2.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Annonce • Nov 17
Yokorei Co.,Ltd., Annual General Meeting, Dec 22, 2023 Yokorei Co.,Ltd., Annual General Meeting, Dec 22, 2023. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥12.50 per share at 1.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 25 December 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Price Target Changed • Sep 07
Price target increased by 24% to JP¥1,300 Up from JP¥1,050, the current price target is provided by 1 analyst. New target price is 6.9% below last closing price of JP¥1,396. Stock is up 51% over the past year. The company is forecast to post earnings per share of JP¥47.60 for next year compared to JP¥56.34 last year. Annonce • Sep 02
Yokorei Co.,Ltd. to Report Fiscal Year 2023 Results on Nov 14, 2023 Yokorei Co.,Ltd. announced that they will report fiscal year 2023 results on Nov 14, 2023 Reported Earnings • Aug 15
Third quarter 2023 earnings released: EPS: JP¥19.29 (vs JP¥15.71 in 3Q 2022) Third quarter 2023 results: EPS: JP¥19.29 (up from JP¥15.71 in 3Q 2022). Revenue: JP¥35.7b (up 21% from 3Q 2022). Net income: JP¥1.13b (up 23% from 3Q 2022). Profit margin: 3.2% (up from 3.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 17
Second quarter 2023 earnings released: EPS: JP¥7.55 (vs JP¥13.45 in 2Q 2022) Second quarter 2023 results: EPS: JP¥7.55 (down from JP¥13.45 in 2Q 2022). Revenue: JP¥30.5b (up 20% from 2Q 2022). Net income: JP¥444.0m (down 44% from 2Q 2022). Profit margin: 1.5% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.50 per share at 2.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 13 June 2023. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 14
First quarter 2023 earnings released: EPS: JP¥12.68 (vs JP¥21.08 in 1Q 2022) First quarter 2023 results: EPS: JP¥12.68 (down from JP¥21.08 in 1Q 2022). Revenue: JP¥32.7b (up 11% from 1Q 2022). Net income: JP¥746.0m (down 40% from 1Q 2022). Profit margin: 2.3% (down from 4.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Feb 12
Yokorei Co.,Ltd. to Report Q1, 2023 Results on Feb 13, 2023 Yokorei Co.,Ltd. announced that they will report Q1, 2023 results on Feb 13, 2023 Reported Earnings • Dec 28
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: JP¥56.34 (down from JP¥61.30 in FY 2021). Revenue: JP¥115.3b (up 4.0% from FY 2021). Net income: JP¥3.32b (down 8.0% from FY 2021). Profit margin: 2.9% (down from 3.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 7.8%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Nov 16
Yokorei Co.,Ltd., Annual General Meeting, Dec 22, 2022 Yokorei Co.,Ltd., Annual General Meeting, Dec 22, 2022. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Outside Director Yosuke Horiai was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Nov 15
Yokorei Co.,Ltd. (TSE:2874) announces an Equity Buyback for 200,000 shares, representing 0.34% for ¥200 million. Yokorei Co.,Ltd. (TSE:2874) announces a share repurchase program. Under the program the company will repurchase 200,000 shares, representing 0.34% of the outstanding shares for ¥200 million. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment. The program will run until December 20, 2022. As of September 30, 2022, the company had 59,122,748 shares outstanding and 143,936 shares in treasury. Annonce • Oct 26
Yokorei Co.,Ltd. to Report Q4, 2022 Results on Nov 14, 2022 Yokorei Co.,Ltd. announced that they will report Q4, 2022 results on Nov 14, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 15
Third quarter 2022 earnings released: EPS: JP¥15.71 (vs JP¥12.48 in 3Q 2021) Third quarter 2022 results: EPS: JP¥15.71 (up from JP¥12.48 in 3Q 2021). Revenue: JP¥29.6b (up 1.0% from 3Q 2021). Net income: JP¥925.0m (up 26% from 3Q 2021). Profit margin: 3.1% (up from 2.5% in 3Q 2021). Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Jul 21
Yokorei Co.,Ltd. to Report Q3, 2022 Results on Aug 12, 2022 Yokorei Co.,Ltd. announced that they will report Q3, 2022 results on Aug 12, 2022 Major Estimate Revision • Jun 21
Consensus EPS estimates increase by 24% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥107.7b to JP¥111.2b. EPS estimate increased from JP¥49.30 to JP¥61.20 per share. Net income forecast to shrink 20% next year vs 6.9% growth forecast for Consumer Retailing industry in Japan . Consensus price target of JP¥925 unchanged from last update. Share price was steady at JP¥847 over the past week. Reported Earnings • May 16
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: JP¥13.45 (up from JP¥8.74 in 2Q 2021). Revenue: JP¥25.4b (flat on 2Q 2021). Net income: JP¥792.0m (up 54% from 2Q 2021). Profit margin: 3.1% (up from 2.0% in 2Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 57%. Over the next year, revenue is expected to shrink by 2.8% compared to a 21% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Outside Director Yosuke Horiai was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Apr 13
Yokorei Co.,Ltd. to Report Q2, 2022 Results on May 13, 2022 Yokorei Co.,Ltd. announced that they will report Q2, 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 14 June 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%). Reported Earnings • Dec 28
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: JP¥61.30 (up from JP¥39.85 in FY 2020). Revenue: JP¥110.8b (down 3.7% from FY 2020). Net income: JP¥3.61b (up 54% from FY 2020). Profit margin: 3.3% (up from 2.0% in FY 2020). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 57%. Earnings per share (EPS) surpassed analyst estimates by 57%. Over the next year, revenue is expected to shrink by 2.5% compared to a 27% growth forecast for the retail industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 25
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥112.3b to JP¥108.0b. EPS estimate also fell from JP¥60.35 per share to JP¥51.00 per share. Net income forecast to shrink 17% next year vs 8.3% growth forecast for Consumer Retailing industry in Japan . Consensus price target down from JP¥975 to JP¥925. Share price fell 3.1% to JP¥817 over the past week. Reported Earnings • Nov 16
Full year 2021 earnings released: EPS JP¥61.30 (vs JP¥39.85 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥110.8b (down 3.7% from FY 2020). Net income: JP¥3.61b (up 54% from FY 2020). Profit margin: 3.3% (up from 2.0% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 23 December 2021. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.4%). Reported Earnings • May 17
Second quarter 2021 earnings released: EPS JP¥8.74 (vs JP¥8.82 in 2Q 2020) The company reported a mediocre second quarter result with weaker revenues, although earnings were flat and profit margins improved. Second quarter 2021 results: Revenue: JP¥25.4b (down 5.0% from 2Q 2020). Net income: JP¥514.0m (flat on 2Q 2020). Profit margin: 2.0% (up from 1.9% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 15 June 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.4%). Analyst Estimate Surprise Post Earnings • Feb 14
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 1.2%, compared to a 8.3% growth forecast for the Consumer Retailing industry in Japan. Reported Earnings • Feb 14
First quarter 2021 earnings released: EPS JP¥14.14 (vs JP¥13.04 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: JP¥28.3b (down 11% from 1Q 2020). Net income: JP¥831.0m (up 8.8% from 1Q 2020). Profit margin: 2.9% (up from 2.4% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Is New 90 Day High Low • Feb 12
New 90-day high: JP¥907 The company is up 2.0% from its price of JP¥888 on 13 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,065 per share. Annonce • Jan 20
Yokohama Reito Co.,Ltd. to Report Q1, 2021 Results on Feb 12, 2021 Yokohama Reito Co.,Ltd. announced that they will report Q1, 2021 results on Feb 12, 2021 Analyst Estimate Surprise Post Earnings • Dec 27
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.1%. Earnings per share (EPS) exceeded analyst estimates by 4.2%. Over the next year, revenue is expected to shrink by 2.6% compared to a 4.8% growth forecast for the Consumer Retailing industry in Japan. Reported Earnings • Dec 27
Full year 2020 earnings released: EPS JP¥39.85 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥115.0b (down 18% from FY 2019). Net income: JP¥2.34b (down 31% from FY 2019). Profit margin: 2.0% (down from 2.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year. Major Estimate Revision • Dec 17
Analysts lower EPS estimates to JP¥44.24 The 2021 consensus revenue estimate was lowered from JP¥121.5b to JP¥111.5b. Earning per share (EPS) estimate was also lowered from JP¥56.20 to JP¥44.24 for the same period. Net income is expected to grow by 11% next year compared to 3.1% growth forecast for the Consumer Retailing industry in Japan. The consensus price target was lowered from JP¥915 to JP¥900. Share price stayed mostly flat at JP¥861 over the past week. Price Target Changed • Dec 01
Price target lowered to JP¥915 Down from JP¥1,100, the current price target is an average from 2 analysts. The new target price is 7.3% above the current share price of JP¥853. As of last close, the stock is down 20% over the past year. Annonce • Nov 15
Yokohama Reito Co.,Ltd., Annual General Meeting, Dec 22, 2020 Yokohama Reito Co.,Ltd., Annual General Meeting, Dec 22, 2020. Annonce • Oct 18
Yokohama Reito Co.,Ltd. to Report Fiscal Year 2020 Results on Nov 13, 2020 Yokohama Reito Co.,Ltd. announced that they will report fiscal year 2020 results on Nov 13, 2020 Annonce • Jul 19
Yokohama Reito Co.,Ltd. to Report Q3, 2020 Results on Aug 13, 2020 Yokohama Reito Co.,Ltd. announced that they will report Q3, 2020 results on Aug 13, 2020 
