TOC（8841）株式概要TOC株式会社は日本で不動産業を営んでいる。 詳細8841 ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長4/6過去の実績4/6財務の健全性6/6配当金0/6報酬収益は年間26.45%増加すると予測されています 過去1年間で収益は29.9%増加しました リスク分析リスクチェックの結果、8841 、リスクは検出されなかった。すべてのリスクチェックを見る8841 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueJP¥Current PriceJP¥1.03k6.6% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture025b2016201920222025202620282031Revenue JP¥23.8bEarnings JP¥3.6bAdvancedSet Fair ValueView all narrativesTOC Co., Ltd. 競合他社Keihanshin BuildingSymbol: TSE:8818Market cap: JP¥104.6bArealinkSymbol: TSE:8914Market cap: JP¥49.5bKabuki-ZaSymbol: TSE:9661Market cap: JP¥54.2bLeopalace21Symbol: TSE:8848Market cap: JP¥201.4b価格と性能株価の高値、安値、推移の概要TOC過去の株価現在の株価JP¥1,026.0052週高値JP¥1,184.0052週安値JP¥651.00ベータ0.361ヶ月の変化0.29%3ヶ月変化15.54%1年変化48.91%3年間の変化66.29%5年間の変化42.30%IPOからの変化66.65%最新ニュース分析記事 • May 19Investors Shouldn't Be Too Comfortable With TOC's (TSE:8841) EarningsInvestors were disappointed with TOC Co., Ltd.'s ( TSE:8841 ) earnings, despite the strong profit numbers. Our analysis...Major Estimate Revision • May 19Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥17.3b to JP¥17.0b. EPS estimate also fell from JP¥40.81 per share to JP¥35.14 per share. Net income forecast to grow 34% next year vs 9.3% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,085 to JP¥1,340. Share price fell 6.3% to JP¥1,018 over the past week.分析記事 • May 15Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsShareholders might have noticed that TOC Co., Ltd. ( TSE:8841 ) filed its annual result this time last week. The early...Price Target Changed • May 14Price target increased by 24% to JP¥1,340Up from JP¥1,085, the current price target is provided by 1 analyst. New target price is 27% above last closing price of JP¥1,057. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥35.14 for next year compared to JP¥26.31 last year.Reported Earnings • May 13Full year 2026 earnings: EPS and revenues exceed analyst expectationsFull year 2026 results: EPS: JP¥26.31 (up from JP¥19.30 in FY 2025). Revenue: JP¥15.2b (up 15% from FY 2025). Net income: JP¥2.32b (up 30% from FY 2025). Profit margin: 15% (up from 14% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.お知らせ • May 12TOC Co., Ltd., Annual General Meeting, Jun 26, 2026TOC Co., Ltd., Annual General Meeting, Jun 26, 2026.最新情報をもっと見るRecent updates分析記事 • May 19Investors Shouldn't Be Too Comfortable With TOC's (TSE:8841) EarningsInvestors were disappointed with TOC Co., Ltd.'s ( TSE:8841 ) earnings, despite the strong profit numbers. Our analysis...Major Estimate Revision • May 19Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥17.3b to JP¥17.0b. EPS estimate also fell from JP¥40.81 per share to JP¥35.14 per share. Net income forecast to grow 34% next year vs 9.3% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,085 to JP¥1,340. Share price fell 6.3% to JP¥1,018 over the past week.分析記事 • May 15Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsShareholders might have noticed that TOC Co., Ltd. ( TSE:8841 ) filed its annual result this time last week. The early...Price Target Changed • May 14Price target increased by 24% to JP¥1,340Up from JP¥1,085, the current price target is provided by 1 analyst. New target price is 27% above last closing price of JP¥1,057. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥35.14 for next year compared to JP¥26.31 last year.Reported Earnings • May 13Full year 2026 earnings: EPS and revenues exceed analyst expectationsFull year 2026 results: EPS: JP¥26.31 (up from JP¥19.30 in FY 2025). Revenue: JP¥15.2b (up 15% from FY 2025). Net income: JP¥2.32b (up 30% from FY 2025). Profit margin: 15% (up from 14% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.お知らせ • May 12TOC Co., Ltd., Annual General Meeting, Jun 26, 2026TOC Co., Ltd., Annual General Meeting, Jun 26, 2026.お知らせ • May 10TOC Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026TOC Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 12, 2026Valuation Update With 7 Day Price Move • Apr 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to JP¥1,048, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 67% over the past three years.Buy Or Sell Opportunity • Apr 17Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 12% to JP¥1,007. The fair value is estimated to be JP¥828, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 39%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 119% in the next 2 years.分析記事 • Feb 13TOC Co., Ltd. Just Beat EPS By 51%: Here's What Analysts Think Will Happen NextInvestors in TOC Co., Ltd. ( TSE:8841 ) had a good week, as its shares rose 2.5% to close at JP¥867 following the...Reported Earnings • Feb 12Third quarter 2026 earnings: EPS exceeds analyst expectationsThird quarter 2026 results: EPS: JP¥9.05 (up from JP¥5.22 in 3Q 2025). Revenue: JP¥3.95b (up 17% from 3Q 2025). Net income: JP¥798.0m (up 64% from 3Q 2025). Profit margin: 20% (up from 14% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 51%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.Buy Or Sell Opportunity • Feb 10Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.0% to JP¥869. The fair value is estimated to be JP¥719, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.2% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 157% in the next 2 years.お知らせ • Dec 26TOC Co., Ltd. to Report Q3, 2026 Results on Feb 10, 2026TOC Co., Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026Buy Or Sell Opportunity • Nov 29Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 16% to JP¥920. The fair value is estimated to be JP¥761, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.2% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 157% in the next 2 years.Reported Earnings • Nov 14Second quarter 2026 earnings: EPS exceeds analyst expectationsSecond quarter 2026 results: EPS: JP¥6.31 (down from JP¥9.45 in 2Q 2025). Revenue: JP¥3.67b (up 12% from 2Q 2025). Net income: JP¥557.0m (down 37% from 2Q 2025). Profit margin: 15% (down from 27% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.お知らせ • Sep 27TOC Co., Ltd. to Report Q2, 2026 Results on Nov 11, 2025TOC Co., Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.4%).Reported Earnings • Aug 07First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: JP¥4.69 (up from JP¥4.12 in 1Q 2025). Revenue: JP¥3.47b (up 16% from 1Q 2025). Net income: JP¥414.0m (up 7.3% from 1Q 2025). Profit margin: 12% (down from 13% in 1Q 2025). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 107%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% 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.お知らせ • Jul 16TOC Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025TOC Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025分析記事 • Jul 03Why TOC's (TSE:8841) Shaky Earnings Are Just The Beginning Of Its ProblemsTOC Co., Ltd.'s ( TSE:8841 ) recent weak earnings report didn't cause a big stock movement. Our analysis suggests that...分析記事 • May 17Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsAs you might know, TOC Co., Ltd. ( TSE:8841 ) recently reported its full-year numbers. Revenues were JP¥13b...Reported Earnings • May 15Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥19.30 (down from JP¥54.59 in FY 2024). Revenue: JP¥13.2b (down 4.1% from FY 2024). Net income: JP¥1.79b (down 65% from FY 2024). Profit margin: 14% (down from 37% in FY 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Major Estimate Revision • May 14Consensus EPS estimates fall by 37%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥16.5b to JP¥15.1b. EPS estimate also fell from JP¥32.30 per share to JP¥20.41 per share. Net income forecast to grow 293% next year vs 6.5% growth forecast for Real Estate industry in Japan. Consensus price target of JP¥1,045 unchanged from last update. Share price was steady at JP¥653 over the past week.お知らせ • May 13TOC Co., Ltd., Annual General Meeting, Jun 27, 2025TOC Co., Ltd., Annual General Meeting, Jun 27, 2025.お知らせ • Apr 19TOC Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025TOC Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025分析記事 • Apr 07TOC Co., Ltd.'s (TSE:8841) P/S Still Appears To Be ReasonableWhen you see that almost half of the companies in the Real Estate industry in Japan have price-to-sales ratios (or...Upcoming Dividend • Mar 21Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%).Reported Earnings • Feb 05Third quarter 2025 earnings released: EPS: JP¥5.22 (vs JP¥5.43 in 3Q 2024)Third quarter 2025 results: EPS: JP¥5.22 (down from JP¥5.43 in 3Q 2024). Revenue: JP¥3.38b (down 3.0% from 3Q 2024). Net income: JP¥486.0m (down 4.5% from 3Q 2024). Profit margin: 14% (in line with 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate 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 2% per year, which means it has not declined as severely as earnings.お知らせ • Feb 04TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 5,000,000 shares, representing 5.37% for ¥3,345 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 5.37% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,345 million. The shares will be repurchased at a price of ¥669 per share. The purpose of the program is to implement flexible capital policies in response to changes in the business environment and to improve capital efficiency. As of December 31, 2024, the company had 93,151,423 issued shares (excluding treasury stock) and 697,929 treasury shares.お知らせ • Jan 03TOC Co., Ltd. to Report Q3, 2025 Results on Feb 04, 2025TOC Co., Ltd. announced that they will report Q3, 2025 results on Feb 04, 2025分析記事 • Nov 20There May Be Reason For Hope In TOC's (TSE:8841) Disappointing EarningsShareholders appeared unconcerned with TOC Co., Ltd.'s ( TSE:8841 ) lackluster earnings report last week. Our analysis...Reported Earnings • Nov 16Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: JP¥9.45 (down from JP¥56.40 in 2Q 2024). Revenue: JP¥3.28b (down 1.9% from 2Q 2024). Net income: JP¥882.0m (down 83% from 2Q 2024). Profit margin: 27% (down from 158% in 2Q 2024). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate 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 remained flat, which means it is significantly lagging earnings.お知らせ • Sep 21TOC Co., Ltd. to Report Q2, 2025 Results on Nov 12, 2024TOC Co., Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024Upcoming Dividend • Sep 20Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.6%).Reported Earnings • Aug 09First quarter 2025 earnings released: EPS: JP¥4.12 (vs JP¥6.74 in 1Q 2024)First quarter 2025 results: EPS: JP¥4.12 (down from JP¥6.74 in 1Q 2024). Revenue: JP¥2.99b (down 14% from 1Q 2024). Net income: JP¥386.0m (down 39% from 1Q 2024). Profit margin: 13% (down from 18% in 1Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • Aug 06TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 500,000 shares, representing 0.53% for ¥310 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 0.53% of its issued share capital (excluding treasury stock), for a total purchase price of ¥310 million. The shares will be repurchased at a price of ¥619 per share. The purpose of the program is to implement flexible capital policies in response to changes in the business environment and to improve capital efficiency. As of March 31, 2024, the company had 93,629,112 issued shares (excluding treasury stock) and 220,240 treasury shares.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥561, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 11x in the Real Estate industry in Japan. Total loss to shareholders of 8.8% over the past three years.Buy Or Sell Opportunity • Jul 01Now 42% overvaluedOver the last 90 days, the stock has fallen 4.1% to JP¥745. The fair value is estimated to be JP¥524, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are forecast to decline by 7.3% per annum over the same time period.New Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.3% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results.Buy Or Sell Opportunity • Jun 25Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 6.1% to JP¥746. The fair value is estimated to be JP¥602, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are forecast to decline by 7.3% per annum over the same time period.分析記事 • May 22TOC's (TSE:8841) Profits Appear To Have Quality IssuesThe market shrugged off TOC Co., Ltd.'s ( TSE:8841 ) solid earnings report. Our analysis showed that there are some...Reported Earnings • May 18Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: JP¥54.59 (up from JP¥34.27 in FY 2023). Revenue: JP¥13.7b (down 13% from FY 2023). Net income: JP¥5.12b (up 57% from FY 2023). Profit margin: 37% (up from 21% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate 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 2% per year, which means it is significantly lagging earnings.お知らせ • May 16TOC Co., Ltd., Annual General Meeting, Jun 27, 2024TOC Co., Ltd., Annual General Meeting, Jun 27, 2024.Price Target Changed • May 15Price target decreased by 14% to JP¥1,020Down from JP¥1,180, the current price target is provided by 1 analyst. New target price is 44% above last closing price of JP¥706. Stock is up 9.3% over the past year. The company is forecast to post earnings per share of JP¥50.08 for next year compared to JP¥34.27 last year.お知らせ • May 03TOC Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024TOC Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024分析記事 • Apr 09TOC Co., Ltd. (TSE:8841) Stock Catapults 25% Though Its Price And Business Still Lag The MarketTOC Co., Ltd. ( TSE:8841 ) shareholders would be excited to see that the share price has had a great month, posting a...Upcoming Dividend • Mar 21Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.2%).Reported Earnings • Feb 08Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: JP¥5.43 (down from JP¥8.00 in 3Q 2023). Revenue: JP¥3.49b (down 12% from 3Q 2023). Net income: JP¥509.0m (down 33% from 3Q 2023). Profit margin: 15% (down from 19% in 3Q 2023). Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.お知らせ • Dec 28TOC Co., Ltd. to Report Q3, 2024 Results on Feb 06, 2024TOC Co., Ltd. announced that they will report Q3, 2024 results on Feb 06, 2024Valuation Update With 7 Day Price Move • Dec 12Investor sentiment improves as stock rises 19%After last week's 19% share price gain to JP¥713, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 7.6% over the past three years.Reported Earnings • Nov 08Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: JP¥56.40 (up from JP¥10.62 in 2Q 2023). Revenue: JP¥3.35b (down 17% from 2Q 2023). Net income: JP¥5.29b (up 424% from 2Q 2023). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 7.5%. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 4.2%. 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 4% per year, which means it is significantly lagging earnings.Major Estimate Revision • Nov 01Consensus EPS estimates increase by 22%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥13.9b to JP¥13.5b. EPS estimate rose from JP¥40.82 to JP¥49.83. Net income forecast to grow 44% next year vs 18% growth forecast for Real Estate industry in Japan. Consensus price target broadly unchanged at JP¥1,180. Share price was steady at JP¥631 over the past week.お知らせ • Sep 28TOC Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023TOC Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023Upcoming Dividend • Sep 21Upcoming dividend of JP¥5.00 per share at 1.6% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.6%).Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥6.74 (vs JP¥10.94 in 1Q 2023)First quarter 2024 results: EPS: JP¥6.74 (down from JP¥10.94 in 1Q 2023). Revenue: JP¥3.48b (down 13% from 1Q 2023). Net income: JP¥636.0m (down 39% from 1Q 2023). Profit margin: 18% (down from 26% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 4% per year.Major Estimate Revision • Aug 09Consensus EPS estimates increase by 497%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥6.84 to JP¥40.82. Revenue forecast unchanged at JP¥13.9b. Net income forecast to grow 18% next year vs 12% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,130 to JP¥1,170. Share price rose 4.0% to JP¥630 over the past week.Reported Earnings • May 10Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: JP¥34.27 (up from JP¥32.68 in FY 2022). Revenue: JP¥15.7b (down 4.0% from FY 2022). Net income: JP¥3.26b (up 4.9% from FY 2022). Profit margin: 21% (up from 19% in FY 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is expected to decline by 5.9% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year.お知らせ • May 10TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 1,500,000 shares, representing 1.58% for ¥990 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 1.58% of its share capital, for ¥990 million. The shares will be repurchased at a price of ¥660 per share. The company will repurchase its shares in order to improve capital efficiency and implement a flexible capital policy that responds to changes in the business environment. The share repurchase program will run until May 10, 2023 As of March 31, 2023, the company had 95,039,571 shares outstanding (excluding treasury shares) and 239,781 shares in treasury.Price Target Changed • May 10Price target increased by 7.6% to JP¥1,130Up from JP¥1,050, the current price target is provided by 1 analyst. New target price is 79% above last closing price of JP¥631. Stock is up 0.5% over the past year. The company is forecast to post earnings per share of JP¥32.62 for next year compared to JP¥32.68 last year.Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per share at 1.6% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 24% 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%). Lower than average of industry peers (3.1%).Reported Earnings • Feb 10Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: JP¥8.00 (down from JP¥10.36 in 3Q 2022). Revenue: JP¥3.96b (down 1.5% from 3Q 2022). Net income: JP¥760.0m (down 23% from 3Q 2022). Profit margin: 19% (down from 25% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year.Reported Earnings • Nov 16Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: JP¥10.62 (up from JP¥10.31 in 2Q 2022). Revenue: JP¥4.05b (up 1.0% from 2Q 2022). Net income: JP¥1.01b (up 3.0% from 2Q 2022). Profit margin: 25% (in line with 2Q 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year.Board Change • Nov 16Less than half of directors are independentThere 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Outside Director Genta Torisu was the last independent director to join the board, commencing their role in 2016. 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 • Nov 10Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: JP¥10.62 (up from JP¥10.31 in 2Q 2022). Revenue: JP¥4.05b (up 1.0% from 2Q 2022). Net income: JP¥1.01b (up 3.0% from 2Q 2022). Profit margin: 25% (in line with 2Q 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 8% 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.Major Estimate Revision • Nov 09Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥16.0b to JP¥15.5b. EPS estimate rose from JP¥17.90 to JP¥32.63. Net income forecast to shrink 33% next year vs 5.3% growth forecast for Real Estate industry in Japan . Consensus price target down from JP¥1,080 to JP¥1,050. Share price was steady at JP¥758 over the past week.Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 08 December 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%).Reported Earnings • Aug 11First quarter 2023 earnings released: EPS: JP¥10.94 (vs JP¥0.19 loss in 1Q 2022)First quarter 2023 results: EPS: JP¥10.94 (up from JP¥0.19 loss in 1Q 2022). Revenue: JP¥4.00b (down 1.2% from 1Q 2022). Net income: JP¥1.04b (up JP¥1.06b from 1Q 2022). Profit margin: 26% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Over the next year, revenue is expected to shrink by 6.3% compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Jul 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥750, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 14% over the past three years.Reported Earnings • May 11Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: JP¥32.68 (down from JP¥43.20 in FY 2021). Revenue: JP¥16.3b (up 1.6% from FY 2021). Net income: JP¥3.11b (down 25% from FY 2021). Profit margin: 19% (down from 26% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Over the next year, revenue is expected to shrink by 2.1% compared to a 5.4% growth forecast for the industry in Japan. 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 2% per year, which means it has not declined as severely as earnings.Major Estimate Revision • May 11Consensus EPS estimates fall by 50%The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥17.0b to JP¥16.0b. EPS estimate also fell from JP¥35.78 per share to JP¥17.89 per share. Net income forecast to shrink 32% next year vs 10% growth forecast for Real Estate industry in Japan . Consensus price target broadly unchanged at JP¥1,080. Share price fell 5.7% to JP¥628 over the past week.Price Target Changed • Apr 27Price target decreased to JP¥1,060Down from JP¥1,470, the current price target is provided by 1 analyst. New target price is 66% above last closing price of JP¥639. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥30.51 for next year compared to JP¥43.20 last year.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Outside Director Genta Torisu was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.6%).Reported Earnings • Feb 09Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: JP¥10.36 (down from JP¥12.43 in 3Q 2021). Revenue: JP¥4.02b (down 6.0% from 3Q 2021). Net income: JP¥984.0m (down 17% from 3Q 2021). Profit margin: 25% (down from 28% in 3Q 2021). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 20%. Over the next year, revenue is forecast to grow 3.7%, compared to a 7.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% 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.Price Target Changed • Nov 25Price target decreased to JP¥1,060Down from JP¥1,490, the current price target is provided by 1 analyst. New target price is 78% above last closing price of JP¥596. Stock is down 10.0% over the past year. The company is forecast to post earnings per share of JP¥30.51 for next year compared to JP¥43.20 last year.Reported Earnings • Nov 10Second quarter 2022 earnings released: EPS JP¥10.31 (vs JP¥11.25 in 2Q 2021)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥4.01b (down 3.6% from 2Q 2021). Net income: JP¥980.0m (down 9.0% from 2Q 2021). Profit margin: 24% (down from 26% in 2Q 2021). 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 11% per year.Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2021. Payment date: 08 December 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.3%).Reported Earnings • May 14Full year 2021 earnings released: EPS JP¥43.20 (vs JP¥46.41 in FY 2020)The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: JP¥16.1b (down 13% from FY 2020). Net income: JP¥4.13b (down 7.7% from FY 2020). Profit margin: 26% (up from 24% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Price Target Changed • May 12Price target increased to JP¥1,490Up from JP¥1,390, the current price target is provided by 1 analyst. New target price is 107% above last closing price of JP¥721. Stock is up 9.6% over the past year.Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (2.1%).Reported Earnings • Feb 11Third quarter 2021 earnings released: EPS JP¥12.43 (vs JP¥10.64 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥4.28b (down 5.8% from 3Q 2020). Net income: JP¥1.19b (up 16% from 3Q 2020). Profit margin: 28% (up from 23% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 59% 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.Is New 90 Day High Low • Feb 05New 90-day high: JP¥746The company is up 15% from its price of JP¥649 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period.Is New 90 Day High Low • Jan 12New 90-day high: JP¥741The company is up 11% from its price of JP¥665 on 14 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 5.0% over the same period.Is New 90 Day High Low • Dec 03New 90-day high: JP¥697The company is up 5.0% from its price of JP¥664 on 04 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 14% over the same period.株主還元8841JP Real EstateJP 市場7D0.7%-4.3%-0.5%1Y48.9%21.3%41.3%株主還元を見る業界別リターン: 8841過去 1 年間で21.3 % の収益を上げたJP Real Estate業界を上回りました。リターン対市場: 8841過去 1 年間で41.3 % の収益を上げたJP市場を上回りました。価格変動Is 8841's price volatile compared to industry and market?8841 volatility8841 Average Weekly Movement5.9%Real Estate Industry Average Movement4.4%Market Average Movement5.0%10% most volatile stocks in JP Market9.7%10% least volatile stocks in JP Market2.5%安定した株価: 8841 、 JP市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 8841の 週次ボラティリティ ( 6% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1926145n/awww.toc.co.jp株式会社TOCは日本で不動産事業を営んでいる。不動産事業」と「リネンサプライ・ランドリー事業」を展開。レンタルルーム、展示場、駐車場の所有、賃貸、管理、運営、仲介、ホテル、レストラン、宴会場、スポーツクラブへのリネンサプライ、ランドリーサービスの提供などを行っている。また、医薬品事業、スポーツクラブ事業、温浴施設事業、ビル管理事業、情報処理関連事業、商業施設の企画・開発・運営事業も行っている。同社は1926年に設立され、品川に本社を置く。もっと見るTOC Co., Ltd. 基礎のまとめTOC の収益と売上を時価総額と比較するとどうか。8841 基礎統計学時価総額JP¥90.51b収益（TTM）JP¥2.32b売上高(TTM)JP¥15.16b39.0xPER（株価収益率6.0xP/Sレシオ8841 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計8841 損益計算書（TTM）収益JP¥15.16b売上原価JP¥10.94b売上総利益JP¥4.22bその他の費用JP¥1.90b収益JP¥2.32b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）26.31グロス・マージン27.82%純利益率15.32%有利子負債／自己資本比率0.9%8841 の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.0%現在の配当利回り49%配当性向8841 配当は確実ですか？8841 配当履歴とベンチマークを見る8841 、いつまでに購入すれば配当金を受け取れますか？TOC 配当日配当落ち日Mar 30 2026配当支払日Jun 29 2026配当落ちまでの日数54 days配当支払日までの日数37 days8841 配当は確実ですか？8841 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 20:22終値2026/05/22 00:00収益2026/03/31年間収益2026/03/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋TOC Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Daisuke FukushimaNomura Securities Co. Ltd.Sho SakabeNomura Securities Co. Ltd.
分析記事 • May 19Investors Shouldn't Be Too Comfortable With TOC's (TSE:8841) EarningsInvestors were disappointed with TOC Co., Ltd.'s ( TSE:8841 ) earnings, despite the strong profit numbers. Our analysis...
Major Estimate Revision • May 19Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥17.3b to JP¥17.0b. EPS estimate also fell from JP¥40.81 per share to JP¥35.14 per share. Net income forecast to grow 34% next year vs 9.3% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,085 to JP¥1,340. Share price fell 6.3% to JP¥1,018 over the past week.
分析記事 • May 15Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsShareholders might have noticed that TOC Co., Ltd. ( TSE:8841 ) filed its annual result this time last week. The early...
Price Target Changed • May 14Price target increased by 24% to JP¥1,340Up from JP¥1,085, the current price target is provided by 1 analyst. New target price is 27% above last closing price of JP¥1,057. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥35.14 for next year compared to JP¥26.31 last year.
Reported Earnings • May 13Full year 2026 earnings: EPS and revenues exceed analyst expectationsFull year 2026 results: EPS: JP¥26.31 (up from JP¥19.30 in FY 2025). Revenue: JP¥15.2b (up 15% from FY 2025). Net income: JP¥2.32b (up 30% from FY 2025). Profit margin: 15% (up from 14% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
お知らせ • May 12TOC Co., Ltd., Annual General Meeting, Jun 26, 2026TOC Co., Ltd., Annual General Meeting, Jun 26, 2026.
分析記事 • May 19Investors Shouldn't Be Too Comfortable With TOC's (TSE:8841) EarningsInvestors were disappointed with TOC Co., Ltd.'s ( TSE:8841 ) earnings, despite the strong profit numbers. Our analysis...
Major Estimate Revision • May 19Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥17.3b to JP¥17.0b. EPS estimate also fell from JP¥40.81 per share to JP¥35.14 per share. Net income forecast to grow 34% next year vs 9.3% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,085 to JP¥1,340. Share price fell 6.3% to JP¥1,018 over the past week.
分析記事 • May 15Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsShareholders might have noticed that TOC Co., Ltd. ( TSE:8841 ) filed its annual result this time last week. The early...
Price Target Changed • May 14Price target increased by 24% to JP¥1,340Up from JP¥1,085, the current price target is provided by 1 analyst. New target price is 27% above last closing price of JP¥1,057. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥35.14 for next year compared to JP¥26.31 last year.
Reported Earnings • May 13Full year 2026 earnings: EPS and revenues exceed analyst expectationsFull year 2026 results: EPS: JP¥26.31 (up from JP¥19.30 in FY 2025). Revenue: JP¥15.2b (up 15% from FY 2025). Net income: JP¥2.32b (up 30% from FY 2025). Profit margin: 15% (up from 14% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
お知らせ • May 12TOC Co., Ltd., Annual General Meeting, Jun 26, 2026TOC Co., Ltd., Annual General Meeting, Jun 26, 2026.
お知らせ • May 10TOC Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026TOC Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 12, 2026
Valuation Update With 7 Day Price Move • Apr 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to JP¥1,048, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 67% over the past three years.
Buy Or Sell Opportunity • Apr 17Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 12% to JP¥1,007. The fair value is estimated to be JP¥828, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 39%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 119% in the next 2 years.
分析記事 • Feb 13TOC Co., Ltd. Just Beat EPS By 51%: Here's What Analysts Think Will Happen NextInvestors in TOC Co., Ltd. ( TSE:8841 ) had a good week, as its shares rose 2.5% to close at JP¥867 following the...
Reported Earnings • Feb 12Third quarter 2026 earnings: EPS exceeds analyst expectationsThird quarter 2026 results: EPS: JP¥9.05 (up from JP¥5.22 in 3Q 2025). Revenue: JP¥3.95b (up 17% from 3Q 2025). Net income: JP¥798.0m (up 64% from 3Q 2025). Profit margin: 20% (up from 14% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 51%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
Buy Or Sell Opportunity • Feb 10Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.0% to JP¥869. The fair value is estimated to be JP¥719, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.2% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 157% in the next 2 years.
お知らせ • Dec 26TOC Co., Ltd. to Report Q3, 2026 Results on Feb 10, 2026TOC Co., Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026
Buy Or Sell Opportunity • Nov 29Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 16% to JP¥920. The fair value is estimated to be JP¥761, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.2% over the last 3 years. Earnings per share has declined by 35%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 157% in the next 2 years.
Reported Earnings • Nov 14Second quarter 2026 earnings: EPS exceeds analyst expectationsSecond quarter 2026 results: EPS: JP¥6.31 (down from JP¥9.45 in 2Q 2025). Revenue: JP¥3.67b (up 12% from 2Q 2025). Net income: JP¥557.0m (down 37% from 2Q 2025). Profit margin: 15% (down from 27% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
お知らせ • Sep 27TOC Co., Ltd. to Report Q2, 2026 Results on Nov 11, 2025TOC Co., Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025
Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.4%).
Reported Earnings • Aug 07First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: JP¥4.69 (up from JP¥4.12 in 1Q 2025). Revenue: JP¥3.47b (up 16% from 1Q 2025). Net income: JP¥414.0m (up 7.3% from 1Q 2025). Profit margin: 12% (down from 13% in 1Q 2025). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 107%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% 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.
お知らせ • Jul 16TOC Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025TOC Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025
分析記事 • Jul 03Why TOC's (TSE:8841) Shaky Earnings Are Just The Beginning Of Its ProblemsTOC Co., Ltd.'s ( TSE:8841 ) recent weak earnings report didn't cause a big stock movement. Our analysis suggests that...
分析記事 • May 17Earnings Beat: TOC Co., Ltd. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their ModelsAs you might know, TOC Co., Ltd. ( TSE:8841 ) recently reported its full-year numbers. Revenues were JP¥13b...
Reported Earnings • May 15Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥19.30 (down from JP¥54.59 in FY 2024). Revenue: JP¥13.2b (down 4.1% from FY 2024). Net income: JP¥1.79b (down 65% from FY 2024). Profit margin: 14% (down from 37% in FY 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Major Estimate Revision • May 14Consensus EPS estimates fall by 37%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥16.5b to JP¥15.1b. EPS estimate also fell from JP¥32.30 per share to JP¥20.41 per share. Net income forecast to grow 293% next year vs 6.5% growth forecast for Real Estate industry in Japan. Consensus price target of JP¥1,045 unchanged from last update. Share price was steady at JP¥653 over the past week.
お知らせ • May 13TOC Co., Ltd., Annual General Meeting, Jun 27, 2025TOC Co., Ltd., Annual General Meeting, Jun 27, 2025.
お知らせ • Apr 19TOC Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025TOC Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025
分析記事 • Apr 07TOC Co., Ltd.'s (TSE:8841) P/S Still Appears To Be ReasonableWhen you see that almost half of the companies in the Real Estate industry in Japan have price-to-sales ratios (or...
Upcoming Dividend • Mar 21Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%).
Reported Earnings • Feb 05Third quarter 2025 earnings released: EPS: JP¥5.22 (vs JP¥5.43 in 3Q 2024)Third quarter 2025 results: EPS: JP¥5.22 (down from JP¥5.43 in 3Q 2024). Revenue: JP¥3.38b (down 3.0% from 3Q 2024). Net income: JP¥486.0m (down 4.5% from 3Q 2024). Profit margin: 14% (in line with 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate 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 2% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 04TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 5,000,000 shares, representing 5.37% for ¥3,345 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 5.37% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,345 million. The shares will be repurchased at a price of ¥669 per share. The purpose of the program is to implement flexible capital policies in response to changes in the business environment and to improve capital efficiency. As of December 31, 2024, the company had 93,151,423 issued shares (excluding treasury stock) and 697,929 treasury shares.
お知らせ • Jan 03TOC Co., Ltd. to Report Q3, 2025 Results on Feb 04, 2025TOC Co., Ltd. announced that they will report Q3, 2025 results on Feb 04, 2025
分析記事 • Nov 20There May Be Reason For Hope In TOC's (TSE:8841) Disappointing EarningsShareholders appeared unconcerned with TOC Co., Ltd.'s ( TSE:8841 ) lackluster earnings report last week. Our analysis...
Reported Earnings • Nov 16Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: JP¥9.45 (down from JP¥56.40 in 2Q 2024). Revenue: JP¥3.28b (down 1.9% from 2Q 2024). Net income: JP¥882.0m (down 83% from 2Q 2024). Profit margin: 27% (down from 158% in 2Q 2024). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate 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 remained flat, which means it is significantly lagging earnings.
お知らせ • Sep 21TOC Co., Ltd. to Report Q2, 2025 Results on Nov 12, 2024TOC Co., Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024
Upcoming Dividend • Sep 20Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.6%).
Reported Earnings • Aug 09First quarter 2025 earnings released: EPS: JP¥4.12 (vs JP¥6.74 in 1Q 2024)First quarter 2025 results: EPS: JP¥4.12 (down from JP¥6.74 in 1Q 2024). Revenue: JP¥2.99b (down 14% from 1Q 2024). Net income: JP¥386.0m (down 39% from 1Q 2024). Profit margin: 13% (down from 18% in 1Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • Aug 06TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 500,000 shares, representing 0.53% for ¥310 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 0.53% of its issued share capital (excluding treasury stock), for a total purchase price of ¥310 million. The shares will be repurchased at a price of ¥619 per share. The purpose of the program is to implement flexible capital policies in response to changes in the business environment and to improve capital efficiency. As of March 31, 2024, the company had 93,629,112 issued shares (excluding treasury stock) and 220,240 treasury shares.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥561, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 11x in the Real Estate industry in Japan. Total loss to shareholders of 8.8% over the past three years.
Buy Or Sell Opportunity • Jul 01Now 42% overvaluedOver the last 90 days, the stock has fallen 4.1% to JP¥745. The fair value is estimated to be JP¥524, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are forecast to decline by 7.3% per annum over the same time period.
New Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.3% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results.
Buy Or Sell Opportunity • Jun 25Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 6.1% to JP¥746. The fair value is estimated to be JP¥602, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are forecast to decline by 7.3% per annum over the same time period.
分析記事 • May 22TOC's (TSE:8841) Profits Appear To Have Quality IssuesThe market shrugged off TOC Co., Ltd.'s ( TSE:8841 ) solid earnings report. Our analysis showed that there are some...
Reported Earnings • May 18Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: JP¥54.59 (up from JP¥34.27 in FY 2023). Revenue: JP¥13.7b (down 13% from FY 2023). Net income: JP¥5.12b (up 57% from FY 2023). Profit margin: 37% (up from 21% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate 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 2% per year, which means it is significantly lagging earnings.
お知らせ • May 16TOC Co., Ltd., Annual General Meeting, Jun 27, 2024TOC Co., Ltd., Annual General Meeting, Jun 27, 2024.
Price Target Changed • May 15Price target decreased by 14% to JP¥1,020Down from JP¥1,180, the current price target is provided by 1 analyst. New target price is 44% above last closing price of JP¥706. Stock is up 9.3% over the past year. The company is forecast to post earnings per share of JP¥50.08 for next year compared to JP¥34.27 last year.
お知らせ • May 03TOC Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024TOC Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024
分析記事 • Apr 09TOC Co., Ltd. (TSE:8841) Stock Catapults 25% Though Its Price And Business Still Lag The MarketTOC Co., Ltd. ( TSE:8841 ) shareholders would be excited to see that the share price has had a great month, posting a...
Upcoming Dividend • Mar 21Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.2%).
Reported Earnings • Feb 08Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: JP¥5.43 (down from JP¥8.00 in 3Q 2023). Revenue: JP¥3.49b (down 12% from 3Q 2023). Net income: JP¥509.0m (down 33% from 3Q 2023). Profit margin: 15% (down from 19% in 3Q 2023). Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
お知らせ • Dec 28TOC Co., Ltd. to Report Q3, 2024 Results on Feb 06, 2024TOC Co., Ltd. announced that they will report Q3, 2024 results on Feb 06, 2024
Valuation Update With 7 Day Price Move • Dec 12Investor sentiment improves as stock rises 19%After last week's 19% share price gain to JP¥713, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 7.6% over the past three years.
Reported Earnings • Nov 08Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: JP¥56.40 (up from JP¥10.62 in 2Q 2023). Revenue: JP¥3.35b (down 17% from 2Q 2023). Net income: JP¥5.29b (up 424% from 2Q 2023). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 7.5%. Revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 4.2%. 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 4% per year, which means it is significantly lagging earnings.
Major Estimate Revision • Nov 01Consensus EPS estimates increase by 22%, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥13.9b to JP¥13.5b. EPS estimate rose from JP¥40.82 to JP¥49.83. Net income forecast to grow 44% next year vs 18% growth forecast for Real Estate industry in Japan. Consensus price target broadly unchanged at JP¥1,180. Share price was steady at JP¥631 over the past week.
お知らせ • Sep 28TOC Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023TOC Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023
Upcoming Dividend • Sep 21Upcoming dividend of JP¥5.00 per share at 1.6% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 08 December 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.6%).
Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥6.74 (vs JP¥10.94 in 1Q 2023)First quarter 2024 results: EPS: JP¥6.74 (down from JP¥10.94 in 1Q 2023). Revenue: JP¥3.48b (down 13% from 1Q 2023). Net income: JP¥636.0m (down 39% from 1Q 2023). Profit margin: 18% (down from 26% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 4% per year.
Major Estimate Revision • Aug 09Consensus EPS estimates increase by 497%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥6.84 to JP¥40.82. Revenue forecast unchanged at JP¥13.9b. Net income forecast to grow 18% next year vs 12% growth forecast for Real Estate industry in Japan. Consensus price target up from JP¥1,130 to JP¥1,170. Share price rose 4.0% to JP¥630 over the past week.
Reported Earnings • May 10Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: JP¥34.27 (up from JP¥32.68 in FY 2022). Revenue: JP¥15.7b (down 4.0% from FY 2022). Net income: JP¥3.26b (up 4.9% from FY 2022). Profit margin: 21% (up from 19% in FY 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is expected to decline by 5.9% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year.
お知らせ • May 10TOC Co., Ltd. (TSE:8841) announces an Equity Buyback for 1,500,000 shares, representing 1.58% for ¥990 million.TOC Co., Ltd. (TSE:8841) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 1.58% of its share capital, for ¥990 million. The shares will be repurchased at a price of ¥660 per share. The company will repurchase its shares in order to improve capital efficiency and implement a flexible capital policy that responds to changes in the business environment. The share repurchase program will run until May 10, 2023 As of March 31, 2023, the company had 95,039,571 shares outstanding (excluding treasury shares) and 239,781 shares in treasury.
Price Target Changed • May 10Price target increased by 7.6% to JP¥1,130Up from JP¥1,050, the current price target is provided by 1 analyst. New target price is 79% above last closing price of JP¥631. Stock is up 0.5% over the past year. The company is forecast to post earnings per share of JP¥32.62 for next year compared to JP¥32.68 last year.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per share at 1.6% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 24% 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%). Lower than average of industry peers (3.1%).
Reported Earnings • Feb 10Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: JP¥8.00 (down from JP¥10.36 in 3Q 2022). Revenue: JP¥3.96b (down 1.5% from 3Q 2022). Net income: JP¥760.0m (down 23% from 3Q 2022). Profit margin: 19% (down from 25% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year.
Reported Earnings • Nov 16Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: JP¥10.62 (up from JP¥10.31 in 2Q 2022). Revenue: JP¥4.05b (up 1.0% from 2Q 2022). Net income: JP¥1.01b (up 3.0% from 2Q 2022). Profit margin: 25% (in line with 2Q 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year.
Board Change • Nov 16Less than half of directors are independentThere 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. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Outside Director Genta Torisu was the last independent director to join the board, commencing their role in 2016. 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 • Nov 10Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: JP¥10.62 (up from JP¥10.31 in 2Q 2022). Revenue: JP¥4.05b (up 1.0% from 2Q 2022). Net income: JP¥1.01b (up 3.0% from 2Q 2022). Profit margin: 25% (in line with 2Q 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 8% 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.
Major Estimate Revision • Nov 09Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥16.0b to JP¥15.5b. EPS estimate rose from JP¥17.90 to JP¥32.63. Net income forecast to shrink 33% next year vs 5.3% growth forecast for Real Estate industry in Japan . Consensus price target down from JP¥1,080 to JP¥1,050. Share price was steady at JP¥758 over the past week.
Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 08 December 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%).
Reported Earnings • Aug 11First quarter 2023 earnings released: EPS: JP¥10.94 (vs JP¥0.19 loss in 1Q 2022)First quarter 2023 results: EPS: JP¥10.94 (up from JP¥0.19 loss in 1Q 2022). Revenue: JP¥4.00b (down 1.2% from 1Q 2022). Net income: JP¥1.04b (up JP¥1.06b from 1Q 2022). Profit margin: 26% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Over the next year, revenue is expected to shrink by 6.3% compared to a 2.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Jul 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to JP¥750, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 14% over the past three years.
Reported Earnings • May 11Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: JP¥32.68 (down from JP¥43.20 in FY 2021). Revenue: JP¥16.3b (up 1.6% from FY 2021). Net income: JP¥3.11b (down 25% from FY 2021). Profit margin: 19% (down from 26% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Over the next year, revenue is expected to shrink by 2.1% compared to a 5.4% growth forecast for the industry in Japan. 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 2% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • May 11Consensus EPS estimates fall by 50%The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥17.0b to JP¥16.0b. EPS estimate also fell from JP¥35.78 per share to JP¥17.89 per share. Net income forecast to shrink 32% next year vs 10% growth forecast for Real Estate industry in Japan . Consensus price target broadly unchanged at JP¥1,080. Share price fell 5.7% to JP¥628 over the past week.
Price Target Changed • Apr 27Price target decreased to JP¥1,060Down from JP¥1,470, the current price target is provided by 1 analyst. New target price is 66% above last closing price of JP¥639. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥30.51 for next year compared to JP¥43.20 last year.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Outside Director Genta Torisu was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.6%).
Reported Earnings • Feb 09Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: JP¥10.36 (down from JP¥12.43 in 3Q 2021). Revenue: JP¥4.02b (down 6.0% from 3Q 2021). Net income: JP¥984.0m (down 17% from 3Q 2021). Profit margin: 25% (down from 28% in 3Q 2021). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 20%. Over the next year, revenue is forecast to grow 3.7%, compared to a 7.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% 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.
Price Target Changed • Nov 25Price target decreased to JP¥1,060Down from JP¥1,490, the current price target is provided by 1 analyst. New target price is 78% above last closing price of JP¥596. Stock is down 10.0% over the past year. The company is forecast to post earnings per share of JP¥30.51 for next year compared to JP¥43.20 last year.
Reported Earnings • Nov 10Second quarter 2022 earnings released: EPS JP¥10.31 (vs JP¥11.25 in 2Q 2021)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥4.01b (down 3.6% from 2Q 2021). Net income: JP¥980.0m (down 9.0% from 2Q 2021). Profit margin: 24% (down from 26% in 2Q 2021). 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 11% per year.
Upcoming Dividend • Sep 22Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 29 September 2021. Payment date: 08 December 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.3%).
Reported Earnings • May 14Full year 2021 earnings released: EPS JP¥43.20 (vs JP¥46.41 in FY 2020)The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: JP¥16.1b (down 13% from FY 2020). Net income: JP¥4.13b (down 7.7% from FY 2020). Profit margin: 26% (up from 24% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Price Target Changed • May 12Price target increased to JP¥1,490Up from JP¥1,390, the current price target is provided by 1 analyst. New target price is 107% above last closing price of JP¥721. Stock is up 9.6% over the past year.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥5.00 per shareEligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (2.1%).
Reported Earnings • Feb 11Third quarter 2021 earnings released: EPS JP¥12.43 (vs JP¥10.64 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥4.28b (down 5.8% from 3Q 2020). Net income: JP¥1.19b (up 16% from 3Q 2020). Profit margin: 28% (up from 23% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 59% 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.
Is New 90 Day High Low • Feb 05New 90-day high: JP¥746The company is up 15% from its price of JP¥649 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period.
Is New 90 Day High Low • Jan 12New 90-day high: JP¥741The company is up 11% from its price of JP¥665 on 14 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 5.0% over the same period.
Is New 90 Day High Low • Dec 03New 90-day high: JP¥697The company is up 5.0% from its price of JP¥664 on 04 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 14% over the same period.
