Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €7.15, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 17x in the Luxury industry in Germany. Total returns to shareholders of 407% over the past three years. Board Change • May 21
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. 1 experienced director. 1 highly experienced director. 3 independent directors (5 non-independent directors). Independent Outside Director Minoru Furukawa is the most experienced director on the board, commencing their role in 2017. Independent Outside Director Keiko Horino was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • May 14
Unitika Ltd., Annual General Meeting, Jun 26, 2026 Unitika Ltd., Annual General Meeting, Jun 26, 2026. Aankondiging • May 09
Unitika Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 Unitika Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Aankondiging • Dec 04
Unitika Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Unitika Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Aankondiging • Sep 04
Unitika Ltd. to Report Q2, 2026 Results on Nov 11, 2025 Unitika Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Aankondiging • Jun 25
Shikibo Ltd. (TSE:3109) signed of memorandum of understanding to acquire PT Unitika Trading Indonesia from Unitika Ltd. (TSE:3103). Shikibo Ltd. (TSE:3109) signed of memorandum of understanding to acquire PT Unitika Trading Indonesia from Unitika Ltd. (TSE:3103) on June 25, 2025. In a related transaction, Shikibo Ltd. also signed of memorandum of understanding to acquire Unitika's consolidated subsidiary Unitika Trading Co., Ltd. (UTC), part of the apparel textile business of UTC's subsidiaries UNITIKA (BEIJING) TRAIDING CO., LTD. and UNITIKA TRADING VIETNAM CO., LTD.
The expected completion of the transaction is by end of December 2025. Aankondiging • Jun 10
Unitika Ltd. to Report Q1, 2026 Results on Aug 06, 2025 Unitika Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025 Aankondiging • May 14
Unitika Ltd., Annual General Meeting, Jun 27, 2025 Unitika Ltd., Annual General Meeting, Jun 27, 2025. Aankondiging • Feb 28
Unitika Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Unitika Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Aankondiging • Nov 29
Unitika Ltd. announced that it expects to receive ¥20.000776536 billion in funding Unitika Ltd. announced a private placement to issue Class C shares 115,504,600 shares at an issue price of ¥173.16 per share for the gross proceeds of ¥20,000,776,536 on November 28, 2024. The transaction has been approved by shareholders and is subject to Scheduled resolution of the Board of Directors regarding convening this Extraordinary General Meeting of Shareholders in Early to mid-January 2025 and Extraordinary General Meeting of Shareholders (scheduled) in Early February 2025. The company has disclosed no issue expenses in the connection with transaction and is expected to close From April 1, 2025 to May 31, 2025. Aankondiging • Nov 23
Unitika Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Unitika Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: JP¥205 loss per share (vs JP¥13.65 loss in 2Q 2024) Second quarter 2025 results: JP¥205 loss per share (further deteriorated from JP¥13.65 loss in 2Q 2024). Revenue: JP¥30.9b (up 2.7% from 2Q 2024). Net loss: JP¥11.8b (loss widened JP¥11.0b from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. New Risk • Nov 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.1m (US$92.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€86.1m market cap, or US$92.2m). Aankondiging • Aug 10
Unitika Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Unitika Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥34.27 (vs JP¥4.11 in 1Q 2024) First quarter 2025 results: EPS: JP¥34.27 (up from JP¥4.11 in 1Q 2024). Revenue: JP¥30.7b (up 9.7% from 1Q 2024). Net income: JP¥1.98b (up JP¥1.74b from 1Q 2024). Profit margin: 6.4% (up from 0.8% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. New Risk • Aug 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 36% per year over the past 5 years. Aankondiging • Jun 02
Unitika Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Unitika Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • May 19
Full year 2024 earnings released: JP¥94.41 loss per share (vs JP¥3.14 loss in FY 2023) Full year 2024 results: JP¥94.41 loss per share (further deteriorated from JP¥3.14 loss in FY 2023). Revenue: JP¥118.3b (flat on FY 2023). Net loss: JP¥5.44b (loss widened JP¥5.26b from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Aankondiging • May 16
Unitika Ltd., Annual General Meeting, Jun 27, 2024 Unitika Ltd., Annual General Meeting, Jun 27, 2024. New Risk • Apr 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.6% 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 32% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (€76.7m market cap, or US$83.1m). Aankondiging • Mar 02
Unitika Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Unitika Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€57.8m market cap, or US$62.5m). Reported Earnings • Feb 09
Third quarter 2024 earnings released: JP¥40.05 loss per share (vs JP¥32.68 loss in 3Q 2023) Third quarter 2024 results: JP¥40.05 loss per share (further deteriorated from JP¥32.68 loss in 3Q 2023). Revenue: JP¥28.5b (down 2.0% from 3Q 2023). Net loss: JP¥2.31b (loss widened 23% from 3Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Aankondiging • Nov 29
Unitika Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Unitika Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: JP¥11.20 loss per share (vs JP¥12.45 profit in 2Q 2023) Second quarter 2024 results: JP¥11.20 loss per share (down from JP¥12.45 profit in 2Q 2023). Revenue: JP¥30.1b (up 2.0% from 2Q 2023). Net loss: JP¥646.0m (down 190% from profit in 2Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 12
Unitika Ltd. to Report Q2, 2024 Results on Nov 09, 2023 Unitika Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥4.11 (vs JP¥35.38 in 1Q 2023) First quarter 2024 results: EPS: JP¥4.11 (down from JP¥35.38 in 1Q 2023). Revenue: JP¥27.9b (down 5.6% from 1Q 2023). Net income: JP¥237.0m (down 88% from 1Q 2023). Profit margin: 0.8% (down from 6.9% in 1Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Aankondiging • May 28
Unitika Ltd. to Report Q1, 2024 Results on Aug 07, 2023 Unitika Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥1.77 (vs JP¥38.56 in FY 2022) Full year 2023 results: EPS: JP¥1.77 (down from JP¥38.56 in FY 2022). Revenue: JP¥117.9b (up 2.8% from FY 2022). Net income: JP¥102.0m (down 95% from FY 2022). Profit margin: 0.1% (down from 1.9% in FY 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Aankondiging • May 14
Unitika Ltd., Annual General Meeting, Jun 29, 2023 Unitika Ltd., Annual General Meeting, Jun 29, 2023. Reported Earnings • Feb 09
Third quarter 2023 earnings released: JP¥28.74 loss per share (vs JP¥14.59 profit in 3Q 2022) Third quarter 2023 results: JP¥28.74 loss per share (down from JP¥14.59 profit in 3Q 2022). Revenue: JP¥29.1b (up 2.1% from 3Q 2022). Net loss: JP¥1.66b (down 297% from profit in 3Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Aankondiging • Nov 19
Unitika Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Unitika Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Noriko Ishikawa was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • Sep 10
Unitika Ltd. to Report Q2, 2023 Results on Nov 09, 2022 Unitika Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Buying Opportunity • Sep 03
Now 20% undervalued Over the last 90 days, the stock is up 4.9%. The fair value is estimated to be €2.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.8% over the last 3 years. Earnings per share has grown by 64%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥35.38 (vs JP¥20.45 in 1Q 2022) First quarter 2023 results: EPS: JP¥35.38 (up from JP¥20.45 in 1Q 2022). Revenue: JP¥29.6b (up 5.5% from 1Q 2022). Net income: JP¥2.04b (up 73% from 1Q 2022). Profit margin: 6.9% (up from 4.2% in 1Q 2022). Over the next year, revenue is forecast to grow 8.8%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Aankondiging • Jun 30
Unitika Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Unitika Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥38.56 (vs JP¥61.45 in FY 2021) Full year 2022 results: EPS: JP¥38.56 (down from JP¥61.45 in FY 2021). Revenue: JP¥114.7b (up 3.9% from FY 2021). Net income: JP¥2.22b (down 37% from FY 2021). Profit margin: 1.9% (down from 3.2% in FY 2021). Over the next year, revenue is forecast to grow 5.0%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Aankondiging • May 15
Unitika Ltd., Annual General Meeting, Jun 29, 2022 Unitika Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Ishikawa Noriko 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. Aankondiging • Apr 07
Unitika Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Unitika Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥18.78 (up from JP¥14.05 in 3Q 2021). Revenue: JP¥28.5b (up 6.2% from 3Q 2021). Net income: JP¥1.08b (up 34% from 3Q 2021). Profit margin: 3.8% (up from 3.0% in 3Q 2021). Revenue missed analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 6.0%, compared to a 5.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥17.95 (vs JP¥57.84 in 2Q 2021) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥27.5b (flat on 2Q 2021). Net income: JP¥1.04b (down 69% from 2Q 2021). Profit margin: 3.8% (down from 12% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 16% per year. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 15% share price gain to €3.20, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 25x in the Luxury industry in Europe. Total loss to shareholders of 39% over the past three years. Reported Earnings • Aug 06
First quarter 2022 earnings released: EPS JP¥21.84 (vs JP¥4.08 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥28.1b (up 2.8% from 1Q 2021). Net income: JP¥1.26b (up 436% from 1Q 2021). Profit margin: 4.5% (up from 0.9% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥67.02 (vs JP¥43.00 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥110.4b (down 7.7% from FY 2020). Net income: JP¥3.86b (up JP¥6.34b from FY 2020). Profit margin: 3.5% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 04
Unitika Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Unitika Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 25% share price gain to JP¥3.84, the stock is trading at a trailing P/E ratio of 7.8x, up from the previous P/E ratio of 6.3x. This compares to an average P/E of 131x in the Luxury industry in Germany. Total return to shareholders over the past three years is a loss of 24%. Is New 90 Day High Low • Feb 08
New 90-day high: €3.50 The company is up 21% from its price of €2.90 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.90 per share. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥18.25 (vs JP¥3.14 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¥26.8b (down 5.1% from 3Q 2020). Net income: JP¥1.05b (up 481% from 3Q 2020). Profit margin: 3.9% (up from 0.6% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue misses expectations Revenue missed analyst estimates by 0.8%. Over the next year, revenue is forecast to stay flat compared to a 10% growth forecast for the Luxury industry in Germany. Is New 90 Day High Low • Dec 16
New 90-day high: €3.20 The company is up 10.0% from its price of €2.92 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 4.0% over the same period. Aankondiging • Dec 03
Unitika Ltd. to Report Q3, 2021 Results on Feb 05, 2021 Unitika Ltd. announced that they will report Q3, 2021 results on Feb 05, 2021 Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is expected to shrink by 4.3% compared to a 6.2% growth forecast for the Luxury industry in Germany. Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS JP¥60.63 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥27.5b (down 8.7% from 2Q 2020). Net income: JP¥3.50b (up JP¥2.92b from 2Q 2020). Profit margin: 13% (up from 1.9% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 80% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 01
New 90-day high: €3.10 The company is up 14% from its price of €2.72 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.09 per share. Aankondiging • Sep 03
Unitika Ltd. to Report Q2, 2021 Results on Nov 10, 2020 Unitika Ltd. announced that they will report Q2, 2021 results on Nov 10, 2020 
