Buy Or Sell Opportunity • May 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to JP¥358. The fair value is estimated to be JP¥461, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 66%. Board Change • Apr 09
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 not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Outside Director Mirai Murakami 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. Reported Earnings • Mar 27
Full year 2025 earnings released: JP¥5.90 loss per share (vs JP¥4.84 loss in FY 2024) Full year 2025 results: JP¥5.90 loss per share (further deteriorated from JP¥4.84 loss in FY 2024). Revenue: JP¥50.4b (up 5.8% from FY 2024). Net loss: JP¥805.0m (loss widened 24% from FY 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to JP¥368. The fair value is estimated to be JP¥462, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 55%. Reported Earnings • Feb 16
Full year 2025 earnings released: JP¥5.90 loss per share (vs JP¥4.84 loss in FY 2024) Full year 2025 results: JP¥5.90 loss per share (further deteriorated from JP¥4.84 loss in FY 2024). Revenue: JP¥50.4b (up 5.8% from FY 2024). Net loss: JP¥805.0m (loss widened 24% from FY 2024). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Annonce • Feb 16
Euglena Co., Ltd., Annual General Meeting, Mar 24, 2026 Euglena Co., Ltd., Annual General Meeting, Mar 24, 2026. Annonce • Dec 03
Euglena Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026 Euglena Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026 Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: JP¥1.31 (vs JP¥1.40 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥1.31 (up from JP¥1.40 loss in 3Q 2024). Revenue: JP¥12.5b (up 4.6% from 3Q 2024). Net income: JP¥179.0m (up JP¥370.5m from 3Q 2024). Profit margin: 1.4% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Annonce • Sep 03
Euglena Co., Ltd. to Report Q3, 2025 Results on Nov 13, 2025 Euglena Co., Ltd. announced that they will report Q3, 2025 results on Nov 13, 2025 Annonce • Aug 19
Euglena Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2025 Euglena Co., Ltd. provided consolidated earnings guidance for the year ending December 31, 2025. For the year, the company expects net sales of JPY 50,000 million and operating profit of JPY 2,400 million. Reported Earnings • Aug 09
Second quarter 2025 earnings released: JP¥0.38 loss per share (vs JP¥3.37 loss in 2Q 2024) Second quarter 2025 results: JP¥0.38 loss per share (improved from JP¥3.37 loss in 2Q 2024). Revenue: JP¥12.6b (up 1.0% from 2Q 2024). Net loss: JP¥52.0m (loss narrowed 89% from 2Q 2024). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Personal Products industry in Japan. Annonce • Jun 03
Euglena Co., Ltd. to Report Q2, 2025 Results on Aug 08, 2025 Euglena Co., Ltd. announced that they will report Q2, 2025 results on Aug 08, 2025 Reported Earnings • May 13
First quarter 2025 earnings released: JP¥3.72 loss per share (vs JP¥1.48 profit in 1Q 2024) First quarter 2025 results: JP¥3.72 loss per share (down from JP¥1.48 profit in 1Q 2024). Revenue: JP¥11.9b (up 7.0% from 1Q 2024). Net loss: JP¥507.0m (down 365% from profit in 1Q 2024). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Personal Products industry in Japan. New Risk • Mar 23
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 7.5% 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. This is currently the only risk that has been identified for the company. Annonce • Mar 01
Euglena Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 Euglena Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 New Risk • Feb 17
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 6.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 16
Full year 2024 earnings released: JP¥4.84 loss per share (vs JP¥22.75 loss in FY 2023) Full year 2024 results: JP¥4.84 loss per share (improved from JP¥22.75 loss in FY 2023). Revenue: JP¥47.6b (up 2.4% from FY 2023). Net loss: JP¥650.0m (loss narrowed 76% from FY 2023). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Annonce • Feb 14
Euglena Co., Ltd., Annual General Meeting, Mar 28, 2025 Euglena Co., Ltd., Annual General Meeting, Mar 28, 2025. Annonce • Dec 03
Euglena Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025 Euglena Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025 Reported Earnings • Nov 13
Third quarter 2024 earnings released: JP¥5.73 loss per share (vs JP¥2.98 loss in 3Q 2023) Third quarter 2024 results: JP¥5.73 loss per share (further deteriorated from JP¥2.98 loss in 3Q 2023). Revenue: JP¥11.6b (up 3.1% from 3Q 2023). Net loss: JP¥781.0m (loss widened 124% from 3Q 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Annonce • Aug 27
Euglena Co., Ltd. to Report Q3, 2024 Results on Nov 11, 2024 Euglena Co., Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024 Annonce • Aug 14
Euglena Co., Ltd. Revises Consolidated Earnings Guidance for the Year Ended December 31, 2024 Euglena Co., Ltd. revised consolidated earnings guidance for the year ended December 31, 2024. for the year, the company expects Net sales of JPY 48,000 million. New Risk • Jun 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% 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 Share price has been volatile over the past 3 months (5.4% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Annonce • Jun 02
Euglena Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Euglena Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Annonce • May 17
Euglena Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ended December 31, 2024 Euglena Co., Ltd. provided consolidated earnings guidance for the year ended December 31, 2024. for the year, the company expects Net sales of JPY 52,500 million. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: JP¥1.48 (vs JP¥1.45 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥1.48 (up from JP¥1.45 loss in 1Q 2023). Revenue: JP¥11.2b (up 2.9% from 1Q 2023). Net income: JP¥191.0m (up JP¥358.0m from 1Q 2023). Profit margin: 1.7% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Annonce • Mar 29
Euglena Co., Ltd. to Report Q1, 2024 Results on May 13, 2024 Euglena Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024 Reported Earnings • Mar 27
Full year 2023 earnings released: JP¥22.75 loss per share (vs JP¥23.83 loss in FY 2022) Full year 2023 results: JP¥22.75 loss per share (improved from JP¥23.83 loss in FY 2022). Revenue: JP¥46.5b (up 4.7% from FY 2022). Net loss: JP¥2.65b (flat on FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Annonce • Feb 16
Euglena Co., Ltd., Annual General Meeting, Mar 19, 2024 Euglena Co., Ltd., Annual General Meeting, Mar 19, 2024. Reported Earnings • Feb 16
Full year 2023 earnings released: JP¥22.75 loss per share (vs JP¥23.83 loss in FY 2022) Full year 2023 results: JP¥22.75 loss per share (improved from JP¥23.83 loss in FY 2022). Revenue: JP¥46.5b (up 4.7% from FY 2022). Net loss: JP¥2.65b (flat on FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year. Annonce • Jan 25
Zenhoren Co.,Ltd. (TSE:5845) agreed to acquire 18.93% stake in Okinawa Basketball Co., Ltd from Euglena Co., Ltd. (TSE:2931) for ¥360 million. Zenhoren Co.,Ltd. (TSE:5845) agreed to acquire 18.93% stake in Okinawa Basketball Co., Ltd from Euglena Co., Ltd. (TSE:2931) for ¥360 million on January 24, 2024. As part of acquisition, 480 shares will be acquired for ¥0.75 million. The transaction is expected to complete on January 31, 2024. Annonce • Jan 12
Euglena Co., Ltd. (TSE:2931) agreed to acquire Saticine Medical Co., Ltd. Euglena Co., Ltd. (TSE:2931) agreed to acquire Saticine Medical Co., Ltd. on January 10, 2024. Board Change • Jan 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Outside Director Aiko Mochizuki was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Dec 05
Euglena Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024 Euglena Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 15
Third quarter 2023 earnings released: JP¥2.98 loss per share (vs JP¥15.91 loss in 3Q 2022) Third quarter 2023 results: JP¥2.98 loss per share (improved from JP¥15.91 loss in 3Q 2022). Revenue: JP¥11.3b (down 6.5% from 3Q 2022). Net loss: JP¥349.0m (loss narrowed 81% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Annonce • Sep 02
Euglena Co., Ltd. to Report Q3, 2023 Results on Nov 13, 2023 Euglena Co., Ltd. announced that they will report Q3, 2023 results on Nov 13, 2023 Reported Earnings • Aug 16
Second quarter 2023 earnings released Second quarter 2023 results: JP¥6.38 loss per share. Net loss: JP¥747.0m (flat on 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.2% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Annonce • Jun 28
Euglena Co., Ltd. to Report Q2, 2023 Results on Aug 14, 2023 Euglena Co., Ltd. announced that they will report Q2, 2023 results on Aug 14, 2023 Reported Earnings • May 17
First quarter 2023 earnings released First quarter 2023 results: JP¥1.45 loss per share. Net loss: JP¥167.0m (flat on 1Q 2022). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Mar 31
Full year 2022 earnings released: JP¥23.83 loss per share (vs JP¥44.51 loss in FY 2021) Full year 2022 results: JP¥23.83 loss per share (improved from JP¥44.51 loss in FY 2021). Revenue: JP¥44.4b (up 46% from FY 2021). Net loss: JP¥2.67b (loss narrowed 43% from FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 4.1% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Mar 24
Price target increased by 11% to JP¥1,000 Up from JP¥900, the current price target is provided by 1 analyst. New target price is 10% above last closing price of JP¥906. Stock is up 10% over the past year. The company is forecast to post a net loss per share of JP¥11.50 next year compared to a net loss per share of JP¥23.83 last year. Annonce • Feb 16
Euglena Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending Dec. 31, 2023 Euglena Co., Ltd. provided consolidated earnings guidance for the fiscal year ending Dec. 31, 2023. The company expects net sales to be JPY 45,000 million. Annonce • Feb 15
Euglena Co., Ltd., Annual General Meeting, Mar 24, 2023 Euglena Co., Ltd., Annual General Meeting, Mar 24, 2023. Reported Earnings • Feb 14
Full year 2022 earnings released: JP¥23.83 loss per share (vs JP¥44.51 loss in FY 2021) Full year 2022 results: JP¥23.83 loss per share (improved from JP¥44.51 loss in FY 2021). Revenue: JP¥44.4b (up 46% from FY 2021). Net loss: JP¥2.67b (loss narrowed 43% from FY 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annonce • Feb 08
Euglena Co., Ltd. announced that it has received ¥7.7999475 billion in funding from Marui Group Co., Ltd., Rohto Pharmaceutical Co.,Ltd., Mazda Motor Corporation, Dai-ichi Life Holdings, Inc. On February 6, 2023, Euglena Co., Ltd. closed the transaction. Annonce • Jan 20
Euglena Co., Ltd. announced that it expects to receive ¥7.7999475 billion in funding from Marui Group Co., Ltd., Rohto Pharmaceutical Co.,Ltd. Euglena Co., Ltd. announced that it will issue 3,208,500 common shares at a price of ¥935 for gross proceeds of ¥2,999,947,500 and 48 convertible bond-type bonds with stock acquisition rights at a price of ¥100,000,000 for gross proceeds of ¥4,800,000,000 for aggregate gross proceeds of ¥4,785,000,000 on January 19, 2023. The transaction will include participation from Marui Group Co., Ltd. of 2,139,000 shares and Rohto Pharmaceutical Co.,Ltd. of 1,069,500 shares post completion of the transaction. The company is issuing securities through third party allotment. The 10th stock acquisition rights are convertible into 5,133,689 shares. The transaction is expected to close on February 6, 2023. The transaction has been approved by the board of directors of the company. Annonce • Dec 28
Euglena Co., Ltd. to Report Fiscal Year 2022 Results on Feb 13, 2023 Euglena Co., Ltd. announced that they will report fiscal year 2022 results on Feb 13, 2023 Reported Earnings • Apr 02
Full year 2021 earnings released: JP¥39.26 loss per share (vs JP¥17.15 loss in FY 2020) Full year 2021 results: JP¥39.26 loss per share (down from JP¥17.15 loss in FY 2020). Revenue: JP¥27.5b (up 97% from FY 2020). Net loss: JP¥4.03b (loss widened 153% from FY 2020). 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 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: JP¥44.51 loss per share (down from JP¥17.15 loss in FY 2020). Revenue: JP¥30.5b (up 118% from FY 2020). Net loss: JP¥4.68b (loss widened 194% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
Second quarter 2021 earnings released: EPS JP¥1.75 (vs JP¥1.17 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥3.83b (up 34% from 2Q 2020). Net income: JP¥164.0m (up 51% from 2Q 2020). Profit margin: 4.3% (up from 3.8% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 16
New 90-day high: JP¥1,264 The company is up 58% from a price of JP¥799 on 16 December 2020. Outperformed the Japanese market which is up 10.0% over the last 90 days. Exceeded the Personal Products industry, which is flat over the same period. Reported Earnings • Feb 17
First quarter 2021 earnings released: JP¥3.87 loss per share (vs JP¥2.71 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: JP¥3.91b (up 22% from 1Q 2020). Net loss: JP¥360.0m (loss widened 43% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% 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. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥909 The company is up 4.0% from its price of JP¥871 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Personal Products industry, which is up 2.0% over the same period. Reported Earnings • Dec 27
Full year 2020 earnings released: JP¥16.00 loss per share The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: JP¥13.3b (down 4.7% from FY 2019). Net loss: JP¥1.49b (loss narrowed 85% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 23
New 90-day low: JP¥774 The company is down 16% from its price of JP¥917 on 24 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 07
New 90-day low: JP¥797 The company is down 4.0% from its price of JP¥830 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 12% over the same period. 
