Reported Earnings • Jul 12
First quarter 2027 earnings released: EPS: JP¥110 (vs JP¥131 in 1Q 2026) First quarter 2027 results: EPS: JP¥110 (down from JP¥131 in 1Q 2026). Revenue: JP¥107.7b (up 3.9% from 1Q 2026). Net income: JP¥2.29b (down 16% from 1Q 2026). Profit margin: 2.1% (down from 2.6% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 12
Final dividend of JP¥66.00 announced Shareholders will receive a dividend of JP¥66.00. Ex-date: 28th August 2026 Payment date: 4th November 2026 Dividend yield will be 2.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (20% 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 11% 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 9.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 06
Price target decreased by 7.4% to JP¥7,500 Down from JP¥8,100, the current price target is an average from 2 analysts. New target price is 21% above last closing price of JP¥6,180. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥603 for next year compared to JP¥609 last year. Annonce • May 09
Belc CO., LTD. to Report Q1, 2027 Results on Jul 10, 2026 Belc CO., LTD. announced that they will report Q1, 2027 results on Jul 10, 2026 Reported Earnings • Apr 11
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥609 (up from JP¥594 in FY 2025). Revenue: JP¥423.4b (up 9.2% from FY 2025). Net income: JP¥12.7b (up 2.4% from FY 2025). Profit margin: 3.0% (down from 3.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 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 7% per year whereas the company’s share price has increased by 10% per year. Annonce • Apr 10
Belc CO., LTD., Annual General Meeting, May 21, 2026 Belc CO., LTD., Annual General Meeting, May 21, 2026. Annonce • Apr 03
Belc CO., LTD. to Report Fiscal Year 2026 Results on Apr 10, 2026 Belc CO., LTD. announced that they will report fiscal year 2026 results on Apr 10, 2026 New Risk • Mar 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 177% Dividend yield: 1.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 25 May 2026. Payout ratio is a comfortable 21% 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 (3.4%). In line with average of industry peers (1.5%). Reported Earnings • Jan 10
Third quarter 2026 earnings released: EPS: JP¥119 (vs JP¥118 in 3Q 2025) Third quarter 2026 results: EPS: JP¥119 (up from JP¥118 in 3Q 2025). Revenue: JP¥104.7b (up 8.9% from 3Q 2025). Net income: JP¥2.48b (up 1.0% from 3Q 2025). Profit margin: 2.4% (down from 2.6% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing 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 11% per year. Declared Dividend • Nov 05
First half dividend of JP¥62.00 announced Shareholders will receive a dividend of JP¥62.00. Ex-date: 26th February 2026 Payment date: 25th May 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (177% cash payout ratio). The dividend has increased by an average of 11% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Nov 01
Belc CO., LTD. to Report Q3, 2026 Results on Jan 09, 2026 Belc CO., LTD. announced that they will report Q3, 2026 results on Jan 09, 2026 Reported Earnings • Oct 11
Second quarter 2026 earnings released: EPS: JP¥164 (vs JP¥171 in 2Q 2025) Second quarter 2026 results: EPS: JP¥164 (down from JP¥171 in 2Q 2025). Revenue: JP¥107.3b (up 12% from 2Q 2025). Net income: JP¥3.41b (down 4.0% from 2Q 2025). Profit margin: 3.2% (down from 3.7% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Annonce • Oct 10
Belc CO., LTD. Announces Dividend for the End of Second Quarter of Fiscal Year Ending February 28, 2026, Payable on November 4, 2025 Belc CO., LTD. announced dividend of JPY 62.00 per share for the end of second quarter of fiscal year ending February 28, 2026 compared to JPY 58.00 per share a year ago. Scheduled date of commencing dividend payments: November 4, 2025. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 04 November 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.6%). Annonce • Jul 29
Belc CO., LTD. to Report Q2, 2026 Results on Oct 10, 2025 Belc CO., LTD. announced that they will report Q2, 2026 results on Oct 10, 2025 Reported Earnings • Jul 14
First quarter 2026 earnings released: EPS: JP¥131 (vs JP¥125 in 1Q 2025) First quarter 2026 results: EPS: JP¥131 (up from JP¥125 in 1Q 2025). Revenue: JP¥103.7b (up 11% from 1Q 2025). Net income: JP¥2.73b (up 4.5% from 1Q 2025). Profit margin: 2.6% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Annonce • Jun 25
Belc CO., LTD. Announces Kanji Ueda as Director; General Manager of Development Control Department and General Manager of Store Planning Department from Director; General Manager of Development Control Department, Effective July 1, 2025 Belc CO., LTD. announced that at a meeting held on June 23, 2025, the Board of Directors passed a resolution on changes in officers. Personnel affairs of officers (Effective July 1, 2025). Name: Kanji Ueda. New Position: Director; General Manager of Development Control Department and General Manager of Store Planning Department. Former Position: Director; General Manager of Development Control Department. Declared Dividend • Jun 18
Final dividend of JP¥62.00 announced Shareholders will receive a dividend of JP¥62.00. Ex-date: 28th August 2025 Payment date: 4th November 2025 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (20% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 11% 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 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Apr 26
Belc CO., LTD. to Report Q1, 2026 Results on Jul 10, 2025 Belc CO., LTD. announced that they will report Q1, 2026 results on Jul 10, 2025 Reported Earnings • Apr 11
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥594 (up from JP¥512 in FY 2024). Revenue: JP¥387.8b (up 10% from FY 2024). Net income: JP¥12.4b (up 16% from FY 2024). Profit margin: 3.2% (up from 3.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Consumer Retailing 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 10% per year. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥58.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 26 May 2025. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Annonce • Feb 03
Belc CO., LTD. to Report Fiscal Year 2025 Results on Apr 10, 2025 Belc CO., LTD. announced that they will report fiscal year 2025 results on Apr 10, 2025 Reported Earnings • Jan 12
Third quarter 2025 earnings released: EPS: JP¥118 (vs JP¥117 in 3Q 2024) Third quarter 2025 results: EPS: JP¥118 (up from JP¥117 in 3Q 2024). Revenue: JP¥96.2b (up 9.0% from 3Q 2024). Net income: JP¥2.45b (flat on 3Q 2024). Profit margin: 2.6% (down from 2.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 3.8% 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 whereas the company’s share price has increased by 5% per year. Declared Dividend • Nov 02
First half dividend of JP¥58.00 announced Shareholders will receive a dividend of JP¥58.00. Ex-date: 27th February 2025 Payment date: 26th May 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (35% 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 11% 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 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Oct 26
Belc CO., LTD. to Report Q3, 2025 Results on Jan 10, 2025 Belc CO., LTD. announced that they will report Q3, 2025 results on Jan 10, 2025 Reported Earnings • Oct 12
Second quarter 2025 earnings released: EPS: JP¥171 (vs JP¥185 in 2Q 2024) Second quarter 2025 results: EPS: JP¥171 (down from JP¥185 in 2Q 2024). Revenue: JP¥96.2b (up 10% from 2Q 2024). Net income: JP¥3.56b (down 7.7% from 2Q 2024). Profit margin: 3.7% (down from 4.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Annonce • Oct 10
Belc Co., Ltd. Announces Dividend for the Second Quarter of Fiscal Year Ending February 28, 2025, Payable on November 1, 2024 Belc CO., LTD. announced dividend of JPY 58.00 per share against JPY 50.00 per share a year ago for the second quarter of Fiscal year ending February 28, 2025. Scheduled date of commencing dividend payments: November 1, 2024. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥58.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). 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¥5,090, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Consumer Retailing industry in Japan. Total loss to shareholders of 5.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,332 per share. Annonce • Jul 27
Belc CO., LTD. to Report Q2, 2025 Results on Oct 10, 2024 Belc CO., LTD. announced that they will report Q2, 2025 results on Oct 10, 2024 Reported Earnings • Jul 11
First quarter 2025 earnings released: EPS: JP¥125 (vs JP¥144 in 1Q 2024) First quarter 2025 results: EPS: JP¥125 (down from JP¥144 in 1Q 2024). Revenue: JP¥93.5b (up 13% from 1Q 2024). Net income: JP¥2.61b (down 13% from 1Q 2024). Profit margin: 2.8% (down from 3.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.4% 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. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥6,360, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Consumer Retailing industry in Japan. Total returns to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥11,686 per share. Declared Dividend • Jun 06
Final dividend of JP¥58.00 announced Shareholders will receive a dividend of JP¥58.00. Ex-date: 29th August 2024 Payment date: 1st November 2024 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 11% 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. Price Target Changed • May 15
Price target increased by 7.4% to JP¥8,667 Up from JP¥8,067, the current price target is an average from 3 analysts. New target price is 18% above last closing price of JP¥7,320. Stock is up 16% over the past year. The company is forecast to post earnings per share of JP¥573 for next year compared to JP¥512 last year. Annonce • Apr 29
Belc CO., LTD. to Report Q1, 2025 Results on Jul 10, 2024 Belc CO., LTD. announced that they will report Q1, 2025 results on Jul 10, 2024 Reported Earnings • Apr 12
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥512 (up from JP¥461 in FY 2023). Revenue: JP¥351.9b (up 13% from FY 2023). Net income: JP¥10.7b (up 11% from FY 2023). Profit margin: 3.0% (down from 3.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.8% 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 whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (1.5%). Annonce • Jan 31
Belc CO., LTD. to Report Fiscal Year 2024 Results on Apr 11, 2024 Belc CO., LTD. announced that they will report fiscal year 2024 results on Apr 11, 2024 Reported Earnings • Jan 12
Third quarter 2024 earnings released: EPS: JP¥117 (vs JP¥91.59 in 3Q 2023) Third quarter 2024 results: EPS: JP¥117 (up from JP¥91.59 in 3Q 2023). Revenue: JP¥88.2b (up 15% from 3Q 2023). Net income: JP¥2.43b (up 27% from 3Q 2023). Profit margin: 2.8% (up from 2.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% 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 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Oct 31
Belc CO., LTD. to Report Q3, 2024 Results on Jan 10, 2024 Belc CO., LTD. announced that they will report Q3, 2024 results on Jan 10, 2024 Reported Earnings • Oct 12
Second quarter 2024 earnings released: EPS: JP¥185 (vs JP¥134 in 2Q 2023) Second quarter 2024 results: EPS: JP¥185 (up from JP¥134 in 2Q 2023). Revenue: JP¥87.1b (up 14% from 2Q 2023). Net income: JP¥3.85b (up 38% from 2Q 2023). Profit margin: 4.4% (up from 3.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 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 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Oct 11
Belc CO., LTD. Announces Dividend for the Second Quarter-End of the Fiscal Year Ending February 29, 2024, Payable on November 1, 2023 and Provides Dividend Guidance for the Fiscal Year Ending February 29, 2024 Belc CO., LTD. announced dividend of JPY 50.00 per share for the second quarter-end of the fiscal year ending February 29, 2024 against JPY 45.00 per share paid a year ago. Scheduled date of commencing dividend payments is November 1, 2023.The company provided dividend guidance for the fiscal year ending February 29, 2024. For the year-end, the company expects to pay dividend of JPY 50.00 per share against JPY 49.00 per share paid a year ago. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥47.00 per share at 1.4% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 01 November 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.6%). Annonce • Jul 30
Belc CO., LTD. to Report Q2, 2024 Results on Oct 11, 2023 Belc CO., LTD. announced that they will report Q2, 2024 results on Oct 11, 2023 Reported Earnings • Jul 13
First quarter 2024 earnings released: EPS: JP¥144 (vs JP¥99.59 in 1Q 2023) First quarter 2024 results: EPS: JP¥144 (up from JP¥99.59 in 1Q 2023). Revenue: JP¥82.9b (up 12% from 1Q 2023). Net income: JP¥3.01b (up 45% from 1Q 2023). Profit margin: 3.6% (up from 2.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.3% 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 but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 30
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥461 (up from JP¥440 in FY 2022). Revenue: JP¥310.8b (up 3.5% from FY 2022). Net income: JP¥9.61b (up 4.6% from FY 2022). Profit margin: 3.1% (in line with FY 2022). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 1.8% 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 but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 14
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥461 (up from JP¥440 in FY 2022). Revenue: JP¥310.8b (up 3.5% from FY 2022). Net income: JP¥9.61b (up 4.6% from FY 2022). Profit margin: 3.1% (in line with FY 2022). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 1.6% 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 fallen by 1% per year. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥45.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.6%). Annonce • Feb 11
Belc CO., LTD. to Report Fiscal Year 2023 Results on Apr 13, 2023 Belc CO., LTD. announced that they will report fiscal year 2023 results on Apr 13, 2023 Reported Earnings • Jan 07
Third quarter 2023 earnings released: EPS: JP¥91.58 (vs JP¥92.97 in 3Q 2022) Third quarter 2023 results: EPS: JP¥91.58 (down from JP¥92.97 in 3Q 2022). Revenue: JP¥76.9b (up 4.2% from 3Q 2022). Net income: JP¥1.91b (down 1.6% from 3Q 2022). Profit margin: 2.5% (in line with 3Q 2022). Revenue is forecast to grow 4.6% 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 5% per year whereas the company’s share price has remained flat. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. 1 independent director (7 non-independent directors). Head of Sales Operations, Head of Checker Department & Director Mitsuhiro Nakamura 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 09
Second quarter 2023 earnings released: EPS: JP¥134 (vs JP¥136 in 2Q 2022) Second quarter 2023 results: EPS: JP¥134 (down from JP¥136 in 2Q 2022). Revenue: JP¥76.8b (up 1.3% from 2Q 2022). Net income: JP¥2.80b (down 1.8% from 2Q 2022). Profit margin: 3.6% (down from 3.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Oct 07
Belc Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending February 28, 2023 Belc CO., LTD. provided consolidated earnings guidance for the fiscal year ending February 28, 2023. For the period, the company has posted an operating income of ¥296,166 million, Operating profit of ¥13,193 million, Profit attributable to owners of parent of ¥8,850 million or ¥424.14 basic per share. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 01 November 2022. Payout ratio is a comfortable 21% 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 (1.6%). Annonce • Aug 04
Belc CO., LTD. to Report Q2, 2023 Results on Oct 07, 2022 Belc CO., LTD. announced that they will report Q2, 2023 results on Oct 07, 2022 Reported Earnings • Jul 10
First quarter 2023 earnings released: EPS: JP¥99.59 (vs JP¥115 in 1Q 2022) First quarter 2023 results: EPS: JP¥99.59 (down from JP¥115 in 1Q 2022). Revenue: JP¥74.0b (flat on 1Q 2022). Net income: JP¥2.08b (down 14% from 1Q 2022). Profit margin: 2.8% (down from 3.3% in 1Q 2022). Over the next year, revenue is forecast to grow 1.1%, compared to a 17% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 01
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥440 (up from JP¥423 in FY 2021). Revenue: JP¥300.3b (up 5.6% from FY 2021). Net income: JP¥9.19b (up 4.1% from FY 2021). Profit margin: 3.1% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.7%. Over the next year, revenue is forecast to stay flat compared to a 21% growth forecast for the retail 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 1% per year, which means it is significantly lagging earnings growth. Annonce • May 15
Belc CO., LTD. to Report Q1, 2023 Results on Jul 08, 2022 Belc CO., LTD. announced that they will report Q1, 2023 results on Jul 08, 2022 Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. 1 independent director (7 non-independent directors). Head of Sales Operations, Head of Checker Department & Director Mitsuhiro Nakamura 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 15
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥440 (up from JP¥423 in FY 2021). Revenue: JP¥300.3b (up 5.6% from FY 2021). Net income: JP¥9.19b (up 4.1% from FY 2021). Profit margin: 3.1% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.7%. Over the next year, revenue is forecast to grow 2.1%, compared to a 20% growth forecast for the retail 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 • Apr 14
Belc CO., LTD., Annual General Meeting, May 26, 2022 Belc CO., LTD., Annual General Meeting, May 26, 2022.