View Financial HealthValueCommerce 배당 및 자사주 매입배당 기준 점검 3/6ValueCommerce 은(는) 현재 수익률이 3.34% 인 배당금 지급 회사입니다. 다음 지급일은 31st August, 2026 이며 배당락일은 다음과 같습니다. 29th June, 2026.핵심 정보3.3%배당 수익률0.6%자사주 매입 수익률총 주주 수익률3.9%미래 배당 수익률3.3%배당 성장률17.8%다음 배당 지급일31 Aug 26배당락일29 Jun 26주당 배당금n/a배당 성향218%최근 배당 및 자사주 매입 업데이트Declared Dividend • Apr 11Final dividend of JP¥8.00 announcedShareholders will receive a dividend of JP¥8.00. Ex-date: 29th June 2026 Payment date: 31st August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (218% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 142% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend.Upcoming Dividend • Dec 22Upcoming dividend of JP¥24.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%).Declared Dividend • Aug 30First half dividend of JP¥24.00 announcedShareholders will receive a dividend of JP¥24.00. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 6.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 100% over the next 3 years. Since a fall of 58% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Upcoming Dividend • Jun 20Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 September 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.1%).분석 기사 • May 12ValueCommerce (TSE:2491) Has Affirmed Its Dividend Of ¥25.00The board of ValueCommerce Co., Ltd. ( TSE:2491 ) has announced that it will pay a dividend on the 1st of September...Declared Dividend • Apr 11Final dividend of JP¥25.00 announcedShareholders will receive a dividend of JP¥25.00. Ex-date: 27th June 2025 Payment date: 1st September 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 97% over the next 3 years. Since a fall of 44% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.모든 업데이트 보기Recent updatesDeclared Dividend • Apr 11Final dividend of JP¥8.00 announcedShareholders will receive a dividend of JP¥8.00. Ex-date: 29th June 2026 Payment date: 31st August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (218% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 142% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend.공시 • Mar 13ValueCommerce Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026ValueCommerce Co., Ltd. announced that they will report Q1, 2026 results at 9:00 AM, Tokyo Standard Time on Apr 28, 2026Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 28%After last week's 28% share price decline to JP¥464, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 16x in the Media industry in Japan. Total loss to shareholders of 70% over the past three years.분석 기사 • Feb 03ValueCommerce Co., Ltd. (TSE:2491) Shares May Have Slumped 28% But Getting In Cheap Is Still UnlikelyThe ValueCommerce Co., Ltd. ( TSE:2491 ) share price has fared very poorly over the last month, falling by a...New Risk • Feb 03New 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 6.2% 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 have declined by 9.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (218% payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (JP¥10.3b market cap, or US$66.3m).Reported Earnings • Jan 31Full year 2025 earnings released: EPS: JP¥22.47 (vs JP¥113 in FY 2024)Full year 2025 results: EPS: JP¥22.47 (down from JP¥113 in FY 2024). Revenue: JP¥24.2b (down 21% from FY 2024). Net income: JP¥487.0m (down 83% from FY 2024). Profit margin: 2.0% (down from 9.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings.공시 • Jan 30ValueCommerce Co., Ltd., Annual General Meeting, Mar 25, 2026ValueCommerce Co., Ltd., Annual General Meeting, Mar 25, 2026.Upcoming Dividend • Dec 22Upcoming dividend of JP¥24.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%).공시 • Dec 03ValueCommerce Co., Ltd. to Report Fiscal Year 2025 Results on Jan 30, 2026ValueCommerce Co., Ltd. announced that they will report fiscal year 2025 results on Jan 30, 2026분석 기사 • Nov 05We Think That There Are Some Issues For ValueCommerce (TSE:2491) Beyond Its Promising EarningsThe stock price didn't jump after ValueCommerce Co., Ltd. ( TSE:2491 ) posted decent earnings last week. We think that...Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: JP¥18.87 (vs JP¥28.92 in 3Q 2024)Third quarter 2025 results: EPS: JP¥18.87 (down from JP¥28.92 in 3Q 2024). Revenue: JP¥4.85b (down 34% from 3Q 2024). Net income: JP¥409.0m (down 35% from 3Q 2024). Profit margin: 8.4% (down from 8.5% in 3Q 2024). Revenue is expected to decline by 30% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 5.7%. 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 31% per year, which means it is performing significantly worse than earnings.Declared Dividend • Aug 30First half dividend of JP¥24.00 announcedShareholders will receive a dividend of JP¥24.00. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 6.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 100% over the next 3 years. Since a fall of 58% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Jul 30Second quarter 2025 earnings released: EPS: JP¥38.35 (vs JP¥23.68 in 2Q 2024)Second quarter 2025 results: EPS: JP¥38.35 (up from JP¥23.68 in 2Q 2024). Revenue: JP¥7.78b (up 6.5% from 2Q 2024). Net income: JP¥831.0m (up 39% from 2Q 2024). Profit margin: 11% (up from 8.2% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 31% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.Upcoming Dividend • Jun 20Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 September 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.1%).분석 기사 • May 12ValueCommerce (TSE:2491) Has Affirmed Its Dividend Of ¥25.00The board of ValueCommerce Co., Ltd. ( TSE:2491 ) has announced that it will pay a dividend on the 1st of September...분석 기사 • May 07ValueCommerce's (TSE:2491) Problems Go Beyond Weak ProfitInvestors were disappointed by ValueCommerce Co., Ltd.'s ( TSE:2491 ) latest earnings release. We did some further...Reported Earnings • May 01First quarter 2025 earnings released: EPS: JP¥48.61 (vs JP¥28.23 in 1Q 2024)First quarter 2025 results: EPS: JP¥48.61 (up from JP¥28.23 in 1Q 2024). Revenue: JP¥8.18b (up 6.9% from 1Q 2024). Net income: JP¥1.05b (up 15% from 1Q 2024). Profit margin: 13% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 29% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 11%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings.Declared Dividend • Apr 11Final dividend of JP¥25.00 announcedShareholders will receive a dividend of JP¥25.00. Ex-date: 27th June 2025 Payment date: 1st September 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 97% over the next 3 years. Since a fall of 44% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Mar 28Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: JP¥113. Revenue: JP¥30.4b (up 3.4% from FY 2023). Net income: JP¥2.86b (down 16% from FY 2023). Profit margin: 9.4% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is expected to decline by 27% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 4.2%.공시 • Mar 14+ 1 more updateValueCommerce Co., Ltd. to Report Q2, 2025 Results on Jul 28, 2025ValueCommerce Co., Ltd. announced that they will report Q2, 2025 results on Jul 28, 2025공시 • Mar 13ValueCommerce Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025ValueCommerce Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025분석 기사 • Mar 07ValueCommerce Co., Ltd. (TSE:2491) Analysts Just Slashed This Year's Revenue Estimates By 11%Market forces rained on the parade of ValueCommerce Co., Ltd. ( TSE:2491 ) shareholders today, when the analysts...New Risk • Mar 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Price Target Changed • Mar 07Price target decreased by 19% to JP¥1,100Down from JP¥1,350, the current price target is an average from 2 analysts. New target price is 34% above last closing price of JP¥823. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥105 for next year compared to JP¥113 last year.Valuation Update With 7 Day Price Move • Feb 07Investor sentiment deteriorates as stock falls 39%After last week's 39% share price decline to JP¥740, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Media industry in Japan. Total loss to shareholders of 78% over the past three years.분석 기사 • Feb 04Why Investors Shouldn't Be Surprised By ValueCommerce Co., Ltd.'s (TSE:2491) 35% Share Price PlungeThe ValueCommerce Co., Ltd. ( TSE:2491 ) share price has fared very poorly over the last month, falling by a...New Risk • Feb 03New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Feb 01Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: JP¥113. Revenue: JP¥30.4b (up 3.4% from FY 2023). Net income: JP¥2.86b (down 16% from FY 2023). Profit margin: 9.4% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media industry in Japan.공시 • Jan 31+ 1 more updateValueCommerce Co., Ltd., Annual General Meeting, Mar 24, 2025ValueCommerce Co., Ltd., Annual General Meeting, Mar 24, 2025.Upcoming Dividend • Dec 20Upcoming dividend of JP¥29.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 05 March 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.3%).공시 • Dec 03ValueCommerce Co., Ltd. to Report Fiscal Year 2024 Results on Jan 31, 2025ValueCommerce Co., Ltd. announced that they will report fiscal year 2024 results on Jan 31, 2025분석 기사 • Nov 04Investors Can Find Comfort In ValueCommerce's (TSE:2491) Earnings QualityThe market for ValueCommerce Co., Ltd.'s ( TSE:2491 ) shares didn't move much after it posted weak earnings recently...Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: JP¥28.92 (vs JP¥25.61 in 3Q 2023)Third quarter 2024 results: EPS: JP¥28.92. Revenue: JP¥7.31b (up 5.0% from 3Q 2023). Net income: JP¥625.0m (down 25% from 3Q 2023). Profit margin: 8.5% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Media industry in Japan.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to JP¥988, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Media industry in Japan. Total loss to shareholders of 72% over the past three years.Reported Earnings • Jul 28Second quarter 2024 earnings released: EPS: JP¥23.68 (vs JP¥25.64 in 2Q 2023)Second quarter 2024 results: EPS: JP¥23.68 (down from JP¥25.64 in 2Q 2023). Revenue: JP¥7.30b (up 2.8% from 2Q 2023). Net income: JP¥599.0m (down 28% from 2Q 2023). Profit margin: 8.2% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.공시 • Jul 26ValueCommerce Co., Ltd. Resolves to Pay Interim Dividend, Payable on August 30, 2024ValueCommerce Co., Ltd. announced that, at the meeting of its Board of Directors held on July 26, 2024, it has resolved to pay interim dividend of JPY 25.00 per share to the shareholders whose record date was June 30, 2024 against JPY 25.00 per share a year ago. Effective date: August 30, 2024.분석 기사 • May 25ValueCommerce's (TSE:2491) Dividend Will Be Reduced To ¥22.00ValueCommerce Co., Ltd.'s ( TSE:2491 ) dividend is being reduced from last year's payment covering the same period to...공시 • May 25ValueCommerce Co., Ltd. Provides Dividend Guidance for the End of the Second Quarter and Year End of the Fiscal Year 2024ValueCommerce Co., Ltd. provided dividend guidance for the end of the second quarter and year end of the fiscal year 2024. The company revised dividend guidance of interim dividend forecast from JPY 22.00 to JPY 25.00 per share.For the year-end dividend, the company now expects dividend of JPY 29.00 compared to previous guidance of to JPY 20.00 per share.분석 기사 • May 09ValueCommerce's (TSE:2491) Dividend Will Be Reduced To ¥22.00ValueCommerce Co., Ltd. ( TSE:2491 ) is reducing its dividend from last year's comparable payment to ¥22.00 on the 2nd...Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: JP¥28.23 (vs JP¥31.57 in 1Q 2023)First quarter 2024 results: EPS: JP¥28.23 (down from JP¥31.57 in 1Q 2023). Revenue: JP¥7.65b (flat on 1Q 2023). Net income: JP¥913.0m (down 11% from 1Q 2023). Profit margin: 12% (down from 13% in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Media 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 fallen by 33% per year, which means it is significantly lagging earnings.분석 기사 • Apr 25ValueCommerce's (TSE:2491) Shareholders Will Receive A Smaller Dividend Than Last YearValueCommerce Co., Ltd. ( TSE:2491 ) has announced that on 2nd of September, it will be paying a dividend of¥22.00...분석 기사 • Apr 11ValueCommerce (TSE:2491) Is Paying Out Less In Dividends Than Last YearValueCommerce Co., Ltd.'s ( TSE:2491 ) dividend is being reduced from last year's payment covering the same period to...Declared Dividend • Apr 11Final dividend of JP¥22.00 announcedShareholders will receive a dividend of JP¥22.00. Ex-date: 27th June 2024 Payment date: 2nd September 2024 Dividend yield will be 4.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Apr 01ValueCommerce's (TSE:2491) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsThe subdued market reaction suggests that ValueCommerce Co., Ltd.'s ( TSE:2491 ) recent earnings didn't contain any...Buy Or Sell Opportunity • Apr 01Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 26% to JP¥1,085. The fair value is estimated to be JP¥1,359, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period.Reported Earnings • Mar 28Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥105 (down from JP¥180 in FY 2022). Revenue: JP¥29.4b (down 18% from FY 2022). Net income: JP¥3.40b (down 41% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Mar 13Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to JP¥1,066. The fair value is estimated to be JP¥1,368, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period.공시 • Mar 08+ 2 more updatesValueCommerce Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024ValueCommerce Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024Price Target Changed • Mar 08Price target decreased by 12% to JP¥1,500Down from JP¥1,700, the current price target is an average from 3 analysts. New target price is 42% above last closing price of JP¥1,059. Stock is down 37% over the past year. The company is forecast to post earnings per share of JP¥101 for next year compared to JP¥105 last year.분석 기사 • Feb 26ValueCommerce Co., Ltd. (TSE:2491) Stock's 27% Dive Might Signal An Opportunity But It Requires Some ScrutinyValueCommerce Co., Ltd. ( TSE:2491 ) shares have had a horrible month, losing 27% after a relatively good period...공시 • Feb 17ValueCommerce Co., Ltd. Announces the Resignation of Takao Nakamura as Outside Director, Audit and Supervisory Committee MemberValueCommerce Co., Ltd. announced the resignation of Takao Nakamura as Outside Director, Audit and Supervisory Committee Member.Reported Earnings • Feb 01Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥105 (down from JP¥180 in FY 2022). Revenue: JP¥29.4b (down 18% from FY 2022). Net income: JP¥3.40b (down 41% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings.공시 • Feb 01+ 1 more updateValueCommerce Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Six Months Ending June 30, 2024 and Full Year Ending December 31, 2024ValueCommerce Co., Ltd. provided consolidated and non-consolidated earnings guidance for the six months ending June 30, 2024 and full year ending December 31, 2024. For the six months, on consolidated basis, the company expects net sales of JPY 14,200 million, operating income of JPY 2,100 million, net income attributable to owners of parent of JPY 1,400 million and basic earnings per share of JPY 43.29.For the full year, on consolidated basis, the company expects net sales of JPY 28,300 million, operating income of JPY 4,000 million, net income attributable to owners of parent of JPY 2,700 million and basic earnings per share of JPY 83.49.For the six months, on non-consolidated basis, the company expects net sales of JPY 13,600 million, operating income of JPY 2,200 million, net income of JPY 1,500 million and basic earnings per share of JPY 46.39.For the full year, on non-consolidated basis, the company expects net sales of JPY 27,100 million, operating income of JPY 4,000 million, net income of JPY 2,700 million and basic earnings per share of JPY 83.49.New Risk • Jan 31New 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 7.2% 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 High level of non-cash earnings (23% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change).Valuation Update With 7 Day Price Move • Jan 31Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥1,267, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Media industry in Japan. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,551 per share.공시 • Jan 30ValueCommerce Co., Ltd., Annual General Meeting, Mar 22, 2024ValueCommerce Co., Ltd., Annual General Meeting, Mar 22, 2024.Upcoming Dividend • Dec 21Upcoming dividend of JP¥25.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 09 March 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.7%).공시 • Dec 05ValueCommerce Co., Ltd. to Report Fiscal Year 2023 Results on Jan 30, 2024ValueCommerce Co., Ltd. announced that they will report fiscal year 2023 results on Jan 30, 2024Reported Earnings • Oct 29Third quarter 2023 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2023 results: EPS: JP¥25.61 (down from JP¥42.96 in 3Q 2022). Revenue: JP¥6.96b (down 18% from 3Q 2022). Net income: JP¥828.0m (down 40% from 3Q 2022). Profit margin: 12% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. 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 Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.공시 • Oct 29ValueCommerce Co., Ltd. Provides Dividend Guidance for the Fourth Quarter of Fiscal Year 2023ValueCommerce Co., Ltd. expected to pay dividend of JPY 25.00 per share for the fourth quarter of fiscal year 2023 compared to JPY 29 per share paid a year ago.Major Estimate Revision • Sep 06Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥32.3b to JP¥29.7b. EPS estimate also fell from JP¥128 per share to JP¥109 per share. Net income forecast to shrink 20% next year vs 16% growth forecast for Media industry in Japan . Consensus price target of JP¥1,467 unchanged from last update. Share price was steady at JP¥1,288 over the past week.New Risk • Sep 05New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.공시 • Jul 30+ 1 more updateValueCommerce Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2023ValueCommerce Co., Ltd. provided consolidated earnings guidance for the year ending December 31, 2023. For the year, the company expects net sales of JPY 29,100 million, operating income of JPY 4,700 million and profit attributable to owners of parent of JPY 3,200 million or JPY 98.96 per basic share.Reported Earnings • Jul 29Second quarter 2023 earnings released: EPS: JP¥25.64 (vs JP¥45.65 in 2Q 2022)Second quarter 2023 results: EPS: JP¥25.64 (down from JP¥45.65 in 2Q 2022). Revenue: JP¥7.10b (down 19% from 2Q 2022). Net income: JP¥829.0m (down 44% from 2Q 2022). Profit margin: 12% (down from 17% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Japan. 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 25% per year, which means it is significantly lagging earnings.Upcoming Dividend • Jun 22Upcoming dividend of JP¥25.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.4%).Price Target Changed • Jun 13Price target decreased by 13% to JP¥1,833Down from JP¥2,100, the current price target is an average from 3 analysts. New target price is 26% above last closing price of JP¥1,459. Stock is down 52% over the past year. The company is forecast to post earnings per share of JP¥128 for next year compared to JP¥180 last year.Buying Opportunity • Jun 08Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be JP¥1,809, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is also forecast to grow by 1.0% per annum over the same time period.Valuation Update With 7 Day Price Move • Apr 28Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to JP¥1,312, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Media industry in Japan. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,275 per share.Reported Earnings • Apr 01Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: JP¥180 (up from JP¥101 in FY 2021). Revenue: JP¥35.7b (up 6.4% from FY 2021). Net income: JP¥5.81b (up 78% from FY 2021). Profit margin: 16% (up from 9.7% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Feb 23Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥40.2b to JP¥36.7b. EPS estimate also fell from JP¥190 per share to JP¥154 per share. Net income forecast to shrink 14% next year vs 16% growth forecast for Media industry in Japan . Consensus price target down from JP¥2,567 to JP¥2,233. Share price fell 8.9% to JP¥1,627 over the past week.공시 • Jan 31+ 1 more updateValueCommerce Co., Ltd. Provides Dividend Forecast for the Second and Fourth Quarter of Fiscal Year 2023ValueCommerce Co., Ltd. provided dividend forecast of JPY 36.00 for the second quarter and JPY 37.00 for the fourth quarter of Fiscal year 2023.Reported Earnings • Jan 31Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: JP¥180 (up from JP¥101 in FY 2021). Revenue: JP¥35.7b (up 6.4% from FY 2021). Net income: JP¥5.81b (up 78% from FY 2021). Profit margin: 16% (up from 9.7% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.공시 • Jan 30+ 1 more updateValueCommerce Co., Ltd., Annual General Meeting, Mar 27, 2023ValueCommerce Co., Ltd., Annual General Meeting, Mar 27, 2023.Upcoming Dividend • Dec 22Upcoming dividend of JP¥29.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 07 March 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.7%).Price Target Changed • Dec 09Price target decreased to JP¥3,158Down from JP¥3,583, the current price target is an average from 4 analysts. New target price is 59% above last closing price of JP¥1,988. Stock is down 58% over the past year. The company is forecast to post earnings per share of JP¥188 for next year compared to JP¥101 last year.공시 • Dec 06ValueCommerce Co., Ltd. to Report Fiscal Year 2022 Results on Jan 30, 2023ValueCommerce Co., Ltd. announced that they will report fiscal year 2022 results on Jan 30, 2023Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Haruka Ikeda was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: JP¥42.96 (vs JP¥43.29 in 3Q 2021)Third quarter 2022 results: EPS: JP¥42.96 (down from JP¥43.29 in 3Q 2021). Revenue: JP¥8.44b (up 3.6% from 3Q 2021). Net income: JP¥1.39b (flat on 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.공시 • Oct 29+ 1 more updateValueCommerce Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022ValueCommerce Co., Ltd. provided earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects net sales to be JPY 37,000 million, Operating income to be JPY 8,700 million, Net income attributable to owners of parent to be JPY 6,000 million and Basic earnings per share to be JPY 185.59.Price Target Changed • Sep 07Price target decreased to JP¥3,670Down from JP¥4,220, the current price target is an average from 4 analysts. New target price is 53% above last closing price of JP¥2,398. Stock is down 50% over the past year. The company is forecast to post earnings per share of JP¥192 for next year compared to JP¥101 last year.Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: JP¥48.40 (vs JP¥42.34 in 2Q 2021)Second quarter 2022 results: EPS: JP¥48.40 (up from JP¥42.34 in 2Q 2021). Revenue: JP¥9.14b (up 14% from 2Q 2021). Net income: JP¥1.56b (up 14% from 2Q 2021). Profit margin: 17% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 4.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.공시 • Jul 28+ 1 more updateValueCommerce Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022ValueCommerce Co., Ltd. provided earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects Net sales to be JPY 37,000 million, Operating income to be JPY 8,700 million, Net income attributable to owners of parent to be JPY 6,000 million and Basic earnings per share to be JPY 185.59.Upcoming Dividend • Jun 22Upcoming dividend of JP¥27.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.4%).Reported Earnings • Apr 30First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: JP¥51.15 (up from JP¥27.12 loss in 1Q 2021). Revenue: JP¥9.56b (up 18% from 1Q 2021). Net income: JP¥1.65b (up JP¥2.53b from 1Q 2021). Profit margin: 17% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) missed analyst estimates by 8.9%. Over the next year, revenue is forecast to grow 9.0%, compared to a 3.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year.Buying Opportunity • Apr 27Now 20% undervaluedOver the last 90 days, the stock is up 9.7%. The fair value is estimated to be JP¥4,480, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings is also forecast to grow by 15% per annum over the same time period.예정된 배당 지급오늘May 21 2026배당락일Jun 29 2026배당 지급일Aug 31 202663 days (배당락일 기준)다음 배당금을 받으려면 앞으로 39 days일 이내에 매수하세요지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 2491 의 배당금 지급은 지난 10 년 동안 휘발성이었습니다.배당금 증가: 2491 의 배당금 지급은 지난 10 년 동안 증가했습니다.배당 수익률 vs 시장ValueCommerce 배당 수익률 vs 시장2491의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (2491)3.3%시장 하위 25% (JP)1.7%시장 상위 25% (JP)3.8%업계 평균 (Media)1.9%분석가 예측 (2491) (최대 3년)3.3%주목할만한 배당금: 2491 의 배당금( 3.34% )은 JP 시장에서 배당금 지급자의 하위 25%( 1.74% )보다 높습니다.고배당: 2491 의 배당금( 3.34% )은 JP 시장에서 배당금 지급자의 상위 25%( 3.78% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 지급 비율 ( 218% )이 높기 때문에 2491 의 배당금 지급은 수익으로 잘 충당되지 않습니다.주주 현금 배당현금 흐름 범위: 현금 지급 비율 ( 22.2% )이 낮기 때문에 2491 의 배당금 지급은 현금 흐름으로 잘 충당됩니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YJP 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/20 04:12종가2026/05/20 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스ValueCommerce Co., Ltd.는 3명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Taro IshiharaDaiwa Securities Co. Ltd.Yusuke OkumuraOkasan Securities Co. Ltd.Yukari HousuiTokai Tokyo Intelligence Laboratory Co., Ltd.
Declared Dividend • Apr 11Final dividend of JP¥8.00 announcedShareholders will receive a dividend of JP¥8.00. Ex-date: 29th June 2026 Payment date: 31st August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (218% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 142% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥24.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%).
Declared Dividend • Aug 30First half dividend of JP¥24.00 announcedShareholders will receive a dividend of JP¥24.00. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 6.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 100% over the next 3 years. Since a fall of 58% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Upcoming Dividend • Jun 20Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 September 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.1%).
분석 기사 • May 12ValueCommerce (TSE:2491) Has Affirmed Its Dividend Of ¥25.00The board of ValueCommerce Co., Ltd. ( TSE:2491 ) has announced that it will pay a dividend on the 1st of September...
Declared Dividend • Apr 11Final dividend of JP¥25.00 announcedShareholders will receive a dividend of JP¥25.00. Ex-date: 27th June 2025 Payment date: 1st September 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 97% over the next 3 years. Since a fall of 44% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Apr 11Final dividend of JP¥8.00 announcedShareholders will receive a dividend of JP¥8.00. Ex-date: 29th June 2026 Payment date: 31st August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (218% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 142% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend.
공시 • Mar 13ValueCommerce Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026ValueCommerce Co., Ltd. announced that they will report Q1, 2026 results at 9:00 AM, Tokyo Standard Time on Apr 28, 2026
Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 28%After last week's 28% share price decline to JP¥464, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 16x in the Media industry in Japan. Total loss to shareholders of 70% over the past three years.
분석 기사 • Feb 03ValueCommerce Co., Ltd. (TSE:2491) Shares May Have Slumped 28% But Getting In Cheap Is Still UnlikelyThe ValueCommerce Co., Ltd. ( TSE:2491 ) share price has fared very poorly over the last month, falling by a...
New Risk • Feb 03New 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 6.2% 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 have declined by 9.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (218% payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (JP¥10.3b market cap, or US$66.3m).
Reported Earnings • Jan 31Full year 2025 earnings released: EPS: JP¥22.47 (vs JP¥113 in FY 2024)Full year 2025 results: EPS: JP¥22.47 (down from JP¥113 in FY 2024). Revenue: JP¥24.2b (down 21% from FY 2024). Net income: JP¥487.0m (down 83% from FY 2024). Profit margin: 2.0% (down from 9.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings.
공시 • Jan 30ValueCommerce Co., Ltd., Annual General Meeting, Mar 25, 2026ValueCommerce Co., Ltd., Annual General Meeting, Mar 25, 2026.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥24.00 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%).
공시 • Dec 03ValueCommerce Co., Ltd. to Report Fiscal Year 2025 Results on Jan 30, 2026ValueCommerce Co., Ltd. announced that they will report fiscal year 2025 results on Jan 30, 2026
분석 기사 • Nov 05We Think That There Are Some Issues For ValueCommerce (TSE:2491) Beyond Its Promising EarningsThe stock price didn't jump after ValueCommerce Co., Ltd. ( TSE:2491 ) posted decent earnings last week. We think that...
Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: JP¥18.87 (vs JP¥28.92 in 3Q 2024)Third quarter 2025 results: EPS: JP¥18.87 (down from JP¥28.92 in 3Q 2024). Revenue: JP¥4.85b (down 34% from 3Q 2024). Net income: JP¥409.0m (down 35% from 3Q 2024). Profit margin: 8.4% (down from 8.5% in 3Q 2024). Revenue is expected to decline by 30% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 5.7%. 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 31% per year, which means it is performing significantly worse than earnings.
Declared Dividend • Aug 30First half dividend of JP¥24.00 announcedShareholders will receive a dividend of JP¥24.00. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 6.1%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 100% over the next 3 years. Since a fall of 58% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Jul 30Second quarter 2025 earnings released: EPS: JP¥38.35 (vs JP¥23.68 in 2Q 2024)Second quarter 2025 results: EPS: JP¥38.35 (up from JP¥23.68 in 2Q 2024). Revenue: JP¥7.78b (up 6.5% from 2Q 2024). Net income: JP¥831.0m (up 39% from 2Q 2024). Profit margin: 11% (up from 8.2% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 31% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.
Upcoming Dividend • Jun 20Upcoming dividend of JP¥25.00 per shareEligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 September 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.1%).
분석 기사 • May 12ValueCommerce (TSE:2491) Has Affirmed Its Dividend Of ¥25.00The board of ValueCommerce Co., Ltd. ( TSE:2491 ) has announced that it will pay a dividend on the 1st of September...
분석 기사 • May 07ValueCommerce's (TSE:2491) Problems Go Beyond Weak ProfitInvestors were disappointed by ValueCommerce Co., Ltd.'s ( TSE:2491 ) latest earnings release. We did some further...
Reported Earnings • May 01First quarter 2025 earnings released: EPS: JP¥48.61 (vs JP¥28.23 in 1Q 2024)First quarter 2025 results: EPS: JP¥48.61 (up from JP¥28.23 in 1Q 2024). Revenue: JP¥8.18b (up 6.9% from 1Q 2024). Net income: JP¥1.05b (up 15% from 1Q 2024). Profit margin: 13% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 29% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 11%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings.
Declared Dividend • Apr 11Final dividend of JP¥25.00 announcedShareholders will receive a dividend of JP¥25.00. Ex-date: 27th June 2025 Payment date: 1st September 2025 Dividend yield will be 7.3%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 97% over the next 3 years. Since a fall of 44% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Mar 28Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: JP¥113. Revenue: JP¥30.4b (up 3.4% from FY 2023). Net income: JP¥2.86b (down 16% from FY 2023). Profit margin: 9.4% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is expected to decline by 27% p.a. on average during the next 3 years, while revenues in the Media industry in Japan are expected to grow by 4.2%.
공시 • Mar 14+ 1 more updateValueCommerce Co., Ltd. to Report Q2, 2025 Results on Jul 28, 2025ValueCommerce Co., Ltd. announced that they will report Q2, 2025 results on Jul 28, 2025
공시 • Mar 13ValueCommerce Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025ValueCommerce Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025
분석 기사 • Mar 07ValueCommerce Co., Ltd. (TSE:2491) Analysts Just Slashed This Year's Revenue Estimates By 11%Market forces rained on the parade of ValueCommerce Co., Ltd. ( TSE:2491 ) shareholders today, when the analysts...
New Risk • Mar 07New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Price Target Changed • Mar 07Price target decreased by 19% to JP¥1,100Down from JP¥1,350, the current price target is an average from 2 analysts. New target price is 34% above last closing price of JP¥823. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥105 for next year compared to JP¥113 last year.
Valuation Update With 7 Day Price Move • Feb 07Investor sentiment deteriorates as stock falls 39%After last week's 39% share price decline to JP¥740, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Media industry in Japan. Total loss to shareholders of 78% over the past three years.
분석 기사 • Feb 04Why Investors Shouldn't Be Surprised By ValueCommerce Co., Ltd.'s (TSE:2491) 35% Share Price PlungeThe ValueCommerce Co., Ltd. ( TSE:2491 ) share price has fared very poorly over the last month, falling by a...
New Risk • Feb 03New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Feb 01Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: JP¥113. Revenue: JP¥30.4b (up 3.4% from FY 2023). Net income: JP¥2.86b (down 16% from FY 2023). Profit margin: 9.4% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media industry in Japan.
공시 • Jan 31+ 1 more updateValueCommerce Co., Ltd., Annual General Meeting, Mar 24, 2025ValueCommerce Co., Ltd., Annual General Meeting, Mar 24, 2025.
Upcoming Dividend • Dec 20Upcoming dividend of JP¥29.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 05 March 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.3%).
공시 • Dec 03ValueCommerce Co., Ltd. to Report Fiscal Year 2024 Results on Jan 31, 2025ValueCommerce Co., Ltd. announced that they will report fiscal year 2024 results on Jan 31, 2025
분석 기사 • Nov 04Investors Can Find Comfort In ValueCommerce's (TSE:2491) Earnings QualityThe market for ValueCommerce Co., Ltd.'s ( TSE:2491 ) shares didn't move much after it posted weak earnings recently...
Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: JP¥28.92 (vs JP¥25.61 in 3Q 2023)Third quarter 2024 results: EPS: JP¥28.92. Revenue: JP¥7.31b (up 5.0% from 3Q 2023). Net income: JP¥625.0m (down 25% from 3Q 2023). Profit margin: 8.5% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Media industry in Japan.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to JP¥988, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Media industry in Japan. Total loss to shareholders of 72% over the past three years.
Reported Earnings • Jul 28Second quarter 2024 earnings released: EPS: JP¥23.68 (vs JP¥25.64 in 2Q 2023)Second quarter 2024 results: EPS: JP¥23.68 (down from JP¥25.64 in 2Q 2023). Revenue: JP¥7.30b (up 2.8% from 2Q 2023). Net income: JP¥599.0m (down 28% from 2Q 2023). Profit margin: 8.2% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.
공시 • Jul 26ValueCommerce Co., Ltd. Resolves to Pay Interim Dividend, Payable on August 30, 2024ValueCommerce Co., Ltd. announced that, at the meeting of its Board of Directors held on July 26, 2024, it has resolved to pay interim dividend of JPY 25.00 per share to the shareholders whose record date was June 30, 2024 against JPY 25.00 per share a year ago. Effective date: August 30, 2024.
분석 기사 • May 25ValueCommerce's (TSE:2491) Dividend Will Be Reduced To ¥22.00ValueCommerce Co., Ltd.'s ( TSE:2491 ) dividend is being reduced from last year's payment covering the same period to...
공시 • May 25ValueCommerce Co., Ltd. Provides Dividend Guidance for the End of the Second Quarter and Year End of the Fiscal Year 2024ValueCommerce Co., Ltd. provided dividend guidance for the end of the second quarter and year end of the fiscal year 2024. The company revised dividend guidance of interim dividend forecast from JPY 22.00 to JPY 25.00 per share.For the year-end dividend, the company now expects dividend of JPY 29.00 compared to previous guidance of to JPY 20.00 per share.
분석 기사 • May 09ValueCommerce's (TSE:2491) Dividend Will Be Reduced To ¥22.00ValueCommerce Co., Ltd. ( TSE:2491 ) is reducing its dividend from last year's comparable payment to ¥22.00 on the 2nd...
Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: JP¥28.23 (vs JP¥31.57 in 1Q 2023)First quarter 2024 results: EPS: JP¥28.23 (down from JP¥31.57 in 1Q 2023). Revenue: JP¥7.65b (flat on 1Q 2023). Net income: JP¥913.0m (down 11% from 1Q 2023). Profit margin: 12% (down from 13% in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Media 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 fallen by 33% per year, which means it is significantly lagging earnings.
분석 기사 • Apr 25ValueCommerce's (TSE:2491) Shareholders Will Receive A Smaller Dividend Than Last YearValueCommerce Co., Ltd. ( TSE:2491 ) has announced that on 2nd of September, it will be paying a dividend of¥22.00...
분석 기사 • Apr 11ValueCommerce (TSE:2491) Is Paying Out Less In Dividends Than Last YearValueCommerce Co., Ltd.'s ( TSE:2491 ) dividend is being reduced from last year's payment covering the same period to...
Declared Dividend • Apr 11Final dividend of JP¥22.00 announcedShareholders will receive a dividend of JP¥22.00. Ex-date: 27th June 2024 Payment date: 2nd September 2024 Dividend yield will be 4.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Apr 01ValueCommerce's (TSE:2491) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsThe subdued market reaction suggests that ValueCommerce Co., Ltd.'s ( TSE:2491 ) recent earnings didn't contain any...
Buy Or Sell Opportunity • Apr 01Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 26% to JP¥1,085. The fair value is estimated to be JP¥1,359, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period.
Reported Earnings • Mar 28Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥105 (down from JP¥180 in FY 2022). Revenue: JP¥29.4b (down 18% from FY 2022). Net income: JP¥3.40b (down 41% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Mar 13Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to JP¥1,066. The fair value is estimated to be JP¥1,368, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period.
공시 • Mar 08+ 2 more updatesValueCommerce Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024ValueCommerce Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024
Price Target Changed • Mar 08Price target decreased by 12% to JP¥1,500Down from JP¥1,700, the current price target is an average from 3 analysts. New target price is 42% above last closing price of JP¥1,059. Stock is down 37% over the past year. The company is forecast to post earnings per share of JP¥101 for next year compared to JP¥105 last year.
분석 기사 • Feb 26ValueCommerce Co., Ltd. (TSE:2491) Stock's 27% Dive Might Signal An Opportunity But It Requires Some ScrutinyValueCommerce Co., Ltd. ( TSE:2491 ) shares have had a horrible month, losing 27% after a relatively good period...
공시 • Feb 17ValueCommerce Co., Ltd. Announces the Resignation of Takao Nakamura as Outside Director, Audit and Supervisory Committee MemberValueCommerce Co., Ltd. announced the resignation of Takao Nakamura as Outside Director, Audit and Supervisory Committee Member.
Reported Earnings • Feb 01Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥105 (down from JP¥180 in FY 2022). Revenue: JP¥29.4b (down 18% from FY 2022). Net income: JP¥3.40b (down 41% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings.
공시 • Feb 01+ 1 more updateValueCommerce Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Six Months Ending June 30, 2024 and Full Year Ending December 31, 2024ValueCommerce Co., Ltd. provided consolidated and non-consolidated earnings guidance for the six months ending June 30, 2024 and full year ending December 31, 2024. For the six months, on consolidated basis, the company expects net sales of JPY 14,200 million, operating income of JPY 2,100 million, net income attributable to owners of parent of JPY 1,400 million and basic earnings per share of JPY 43.29.For the full year, on consolidated basis, the company expects net sales of JPY 28,300 million, operating income of JPY 4,000 million, net income attributable to owners of parent of JPY 2,700 million and basic earnings per share of JPY 83.49.For the six months, on non-consolidated basis, the company expects net sales of JPY 13,600 million, operating income of JPY 2,200 million, net income of JPY 1,500 million and basic earnings per share of JPY 46.39.For the full year, on non-consolidated basis, the company expects net sales of JPY 27,100 million, operating income of JPY 4,000 million, net income of JPY 2,700 million and basic earnings per share of JPY 83.49.
New Risk • Jan 31New 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 7.2% 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 High level of non-cash earnings (23% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change).
Valuation Update With 7 Day Price Move • Jan 31Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to JP¥1,267, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Media industry in Japan. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,551 per share.
공시 • Jan 30ValueCommerce Co., Ltd., Annual General Meeting, Mar 22, 2024ValueCommerce Co., Ltd., Annual General Meeting, Mar 22, 2024.
Upcoming Dividend • Dec 21Upcoming dividend of JP¥25.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 28 December 2023. Payment date: 09 March 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.7%).
공시 • Dec 05ValueCommerce Co., Ltd. to Report Fiscal Year 2023 Results on Jan 30, 2024ValueCommerce Co., Ltd. announced that they will report fiscal year 2023 results on Jan 30, 2024
Reported Earnings • Oct 29Third quarter 2023 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2023 results: EPS: JP¥25.61 (down from JP¥42.96 in 3Q 2022). Revenue: JP¥6.96b (down 18% from 3Q 2022). Net income: JP¥828.0m (down 40% from 3Q 2022). Profit margin: 12% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. 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 Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.
공시 • Oct 29ValueCommerce Co., Ltd. Provides Dividend Guidance for the Fourth Quarter of Fiscal Year 2023ValueCommerce Co., Ltd. expected to pay dividend of JPY 25.00 per share for the fourth quarter of fiscal year 2023 compared to JPY 29 per share paid a year ago.
Major Estimate Revision • Sep 06Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥32.3b to JP¥29.7b. EPS estimate also fell from JP¥128 per share to JP¥109 per share. Net income forecast to shrink 20% next year vs 16% growth forecast for Media industry in Japan . Consensus price target of JP¥1,467 unchanged from last update. Share price was steady at JP¥1,288 over the past week.
New Risk • Sep 05New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
공시 • Jul 30+ 1 more updateValueCommerce Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2023ValueCommerce Co., Ltd. provided consolidated earnings guidance for the year ending December 31, 2023. For the year, the company expects net sales of JPY 29,100 million, operating income of JPY 4,700 million and profit attributable to owners of parent of JPY 3,200 million or JPY 98.96 per basic share.
Reported Earnings • Jul 29Second quarter 2023 earnings released: EPS: JP¥25.64 (vs JP¥45.65 in 2Q 2022)Second quarter 2023 results: EPS: JP¥25.64 (down from JP¥45.65 in 2Q 2022). Revenue: JP¥7.10b (down 19% from 2Q 2022). Net income: JP¥829.0m (down 44% from 2Q 2022). Profit margin: 12% (down from 17% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Japan. 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 25% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Jun 22Upcoming dividend of JP¥25.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.4%).
Price Target Changed • Jun 13Price target decreased by 13% to JP¥1,833Down from JP¥2,100, the current price target is an average from 3 analysts. New target price is 26% above last closing price of JP¥1,459. Stock is down 52% over the past year. The company is forecast to post earnings per share of JP¥128 for next year compared to JP¥180 last year.
Buying Opportunity • Jun 08Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be JP¥1,809, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is also forecast to grow by 1.0% per annum over the same time period.
Valuation Update With 7 Day Price Move • Apr 28Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to JP¥1,312, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Media industry in Japan. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,275 per share.
Reported Earnings • Apr 01Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: JP¥180 (up from JP¥101 in FY 2021). Revenue: JP¥35.7b (up 6.4% from FY 2021). Net income: JP¥5.81b (up 78% from FY 2021). Profit margin: 16% (up from 9.7% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Feb 23Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥40.2b to JP¥36.7b. EPS estimate also fell from JP¥190 per share to JP¥154 per share. Net income forecast to shrink 14% next year vs 16% growth forecast for Media industry in Japan . Consensus price target down from JP¥2,567 to JP¥2,233. Share price fell 8.9% to JP¥1,627 over the past week.
공시 • Jan 31+ 1 more updateValueCommerce Co., Ltd. Provides Dividend Forecast for the Second and Fourth Quarter of Fiscal Year 2023ValueCommerce Co., Ltd. provided dividend forecast of JPY 36.00 for the second quarter and JPY 37.00 for the fourth quarter of Fiscal year 2023.
Reported Earnings • Jan 31Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: JP¥180 (up from JP¥101 in FY 2021). Revenue: JP¥35.7b (up 6.4% from FY 2021). Net income: JP¥5.81b (up 78% from FY 2021). Profit margin: 16% (up from 9.7% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
공시 • Jan 30+ 1 more updateValueCommerce Co., Ltd., Annual General Meeting, Mar 27, 2023ValueCommerce Co., Ltd., Annual General Meeting, Mar 27, 2023.
Upcoming Dividend • Dec 22Upcoming dividend of JP¥29.00 per shareEligible shareholders must have bought the stock before 29 December 2022. Payment date: 07 March 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.7%).
Price Target Changed • Dec 09Price target decreased to JP¥3,158Down from JP¥3,583, the current price target is an average from 4 analysts. New target price is 59% above last closing price of JP¥1,988. Stock is down 58% over the past year. The company is forecast to post earnings per share of JP¥188 for next year compared to JP¥101 last year.
공시 • Dec 06ValueCommerce Co., Ltd. to Report Fiscal Year 2022 Results on Jan 30, 2023ValueCommerce Co., Ltd. announced that they will report fiscal year 2022 results on Jan 30, 2023
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Haruka Ikeda was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 30Third quarter 2022 earnings released: EPS: JP¥42.96 (vs JP¥43.29 in 3Q 2021)Third quarter 2022 results: EPS: JP¥42.96 (down from JP¥43.29 in 3Q 2021). Revenue: JP¥8.44b (up 3.6% from 3Q 2021). Net income: JP¥1.39b (flat on 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Media industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
공시 • Oct 29+ 1 more updateValueCommerce Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022ValueCommerce Co., Ltd. provided earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects net sales to be JPY 37,000 million, Operating income to be JPY 8,700 million, Net income attributable to owners of parent to be JPY 6,000 million and Basic earnings per share to be JPY 185.59.
Price Target Changed • Sep 07Price target decreased to JP¥3,670Down from JP¥4,220, the current price target is an average from 4 analysts. New target price is 53% above last closing price of JP¥2,398. Stock is down 50% over the past year. The company is forecast to post earnings per share of JP¥192 for next year compared to JP¥101 last year.
Reported Earnings • Jul 28Second quarter 2022 earnings released: EPS: JP¥48.40 (vs JP¥42.34 in 2Q 2021)Second quarter 2022 results: EPS: JP¥48.40 (up from JP¥42.34 in 2Q 2021). Revenue: JP¥9.14b (up 14% from 2Q 2021). Net income: JP¥1.56b (up 14% from 2Q 2021). Profit margin: 17% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 4.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.
공시 • Jul 28+ 1 more updateValueCommerce Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022ValueCommerce Co., Ltd. provided earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects Net sales to be JPY 37,000 million, Operating income to be JPY 8,700 million, Net income attributable to owners of parent to be JPY 6,000 million and Basic earnings per share to be JPY 185.59.
Upcoming Dividend • Jun 22Upcoming dividend of JP¥27.00 per shareEligible shareholders must have bought the stock before 29 June 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.4%).
Reported Earnings • Apr 30First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: JP¥51.15 (up from JP¥27.12 loss in 1Q 2021). Revenue: JP¥9.56b (up 18% from 1Q 2021). Net income: JP¥1.65b (up JP¥2.53b from 1Q 2021). Profit margin: 17% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) missed analyst estimates by 8.9%. Over the next year, revenue is forecast to grow 9.0%, compared to a 3.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year.
Buying Opportunity • Apr 27Now 20% undervaluedOver the last 90 days, the stock is up 9.7%. The fair value is estimated to be JP¥4,480, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings is also forecast to grow by 15% per annum over the same time period.