Reported Earnings • May 18
Full year 2026 earnings released: EPS: JP¥101 (vs JP¥50.62 in FY 2025) Full year 2026 results: EPS: JP¥101 (up from JP¥50.62 in FY 2025). Revenue: JP¥146.9b (up 5.1% from FY 2025). Net income: JP¥2.31b (up 100% from FY 2025). Profit margin: 1.6% (up from 0.8% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Aankondiging • May 14
Will Group, Inc., Annual General Meeting, Jun 27, 2026 Will Group, Inc., Annual General Meeting, Jun 27, 2026. Aankondiging • Apr 24
Will Group, Inc. to Report Fiscal Year 2026 Results on May 14, 2026 Will Group, Inc. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥36.31 (vs JP¥26.73 in 3Q 2025) Third quarter 2026 results: EPS: JP¥36.31 (up from JP¥26.73 in 3Q 2025). Revenue: JP¥37.1b (up 5.9% from 3Q 2025). Net income: JP¥832.0m (up 36% from 3Q 2025). Profit margin: 2.2% (up from 1.7% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Nov 09
Dividend of JP¥44.00 announced Dividend of JP¥44.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 4.3%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 30% 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 decline by 38% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.5% EPS decline seen over the last 5 years. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥37.80 (vs JP¥19.16 in 2Q 2025) Second quarter 2026 results: EPS: JP¥37.80 (up from JP¥19.16 in 2Q 2025). Revenue: JP¥36.3b (up 3.0% from 2Q 2025). Net income: JP¥866.0m (up 98% from 2Q 2025). Profit margin: 2.4% (up from 1.2% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Aankondiging • Oct 02
Will Group, Inc. (TSE:6089) acquired HR CAREER Co., Ltd. Will Group, Inc. (TSE:6089) acquired HR CAREER Co., Ltd. on October 1, 2025.
Will Group, Inc. (TSE:6089) completed the acquisition of HR CAREER Co., Ltd. on October 1, 2025. Buy Or Sell Opportunity • Sep 04
Now 20% undervalued Over the last 90 days, the stock has risen 4.3% to JP¥955. The fair value is estimated to be JP¥1,198, 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 declined by 28%. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥12.27 (vs JP¥3.03 in 1Q 2025) First quarter 2026 results: EPS: JP¥12.27 (up from JP¥3.03 in 1Q 2025). Revenue: JP¥35.2b (flat on 1Q 2025). Net income: JP¥281.0m (up 307% from 1Q 2025). Profit margin: 0.8% (up from 0.2% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥50.62 (vs JP¥122 in FY 2024) Full year 2025 results: EPS: JP¥50.62 (down from JP¥122 in FY 2024). Revenue: JP¥139.7b (up 1.1% from FY 2024). Net income: JP¥1.16b (down 58% from FY 2024). Profit margin: 0.8% (down from 2.0% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 06
Will Group, Inc. to Report Q3, 2026 Results on Feb 09, 2026 Will Group, Inc. announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • May 13
Full year 2025 earnings released: EPS: JP¥50.62 (vs JP¥122 in FY 2024) Full year 2025 results: EPS: JP¥50.62 (down from JP¥122 in FY 2024). Revenue: JP¥139.7b (up 1.1% from FY 2024). Net income: JP¥1.16b (down 58% from FY 2024). Profit margin: 0.8% (down from 2.0% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 16
Will Group, Inc. to Report Q1, 2026 Results on Aug 08, 2025 Will Group, Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). Aankondiging • Feb 28
Will Group, Inc. to Report Fiscal Year 2025 Results on May 12, 2025 Will Group, Inc. announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: JP¥26.73 (vs JP¥7.08 in 3Q 2024) Third quarter 2025 results: EPS: JP¥26.73 (up from JP¥7.08 in 3Q 2024). Revenue: JP¥35.0b (up 1.1% from 3Q 2024). Net income: JP¥610.0m (up 279% from 3Q 2024). Profit margin: 1.7% (up from 0.5% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Nov 11
Dividend of JP¥44.00 announced Dividend of JP¥44.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 4.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (345% cash payout ratio). The dividend has increased by an average of 30% 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 decline by 41% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.9% EPS decline seen over the last 5 years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥19.16 (vs JP¥29.92 in 2Q 2024) Second quarter 2025 results: EPS: JP¥19.16 (down from JP¥29.92 in 2Q 2024). Revenue: JP¥35.3b (up 1.2% from 2Q 2024). Net income: JP¥437.0m (down 36% from 2Q 2024). Profit margin: 1.2% (down from 1.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 14% per year. Aankondiging • Nov 02
Will Group, Inc. to Report Q3, 2025 Results on Feb 10, 2025 Will Group, Inc. announced that they will report Q3, 2025 results on Feb 10, 2025 Aankondiging • Sep 27
Will Group, Inc. Revises Consolidated Earnings Guidance for the Six Months Ending September 30, 2024 Will Group, Inc. revised consolidated earnings guidance for the six months ending September 30, 2024. For the six months ending September 30, 2024, the company expects revenue of JPY 70,350 million compared to previous guidance of JPY 70,500 million; Operating profit of JPY 780 million compared to previous guidance of JPY 530 million; Profit attributable to owners of parent of JPY 530 million or JPY 23.27 per basic share compared to previous guidance of JPY 360 million or JPY 15.79 per basic share. Revenue for the six months ending September 30, 2024 is expected to be slightly lower than the previously announced forecast due to a decrease in permanent placement sales in the Overseas Working Business, despite the strong operating results mainly in the construction management engineer domain in the Domestic Working Business. Operating profit is expected to exceed the previously announced forecast due to a decrease in recruitment expenses, etc. compared to those in the previously announced forecast in the construction management engineer domain in the Domestic Working Business, as well as due to controlling selling, general and administrative expenses through improved productivity, and growth in gross profit resulting from price negotiations in the sales outsourcing domain, factory outsourcing domain and nursing care business support domain. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥3.03 (vs JP¥31.90 in 1Q 2024) First quarter 2025 results: EPS: JP¥3.03 (down from JP¥31.90 in 1Q 2024). Revenue: JP¥35.1b (up 1.8% from 1Q 2024). Net income: JP¥69.0m (down 91% from 1Q 2024). Profit margin: 0.2% (down from 2.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 7% per year. Board Change • Aug 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. 2 highly experienced directors. Chairman Ryosuke Ikeda is the most experienced director on the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jun 28
Full year 2024 earnings released: EPS: JP¥122 (vs JP¥143 in FY 2023) Full year 2024 results: EPS: JP¥122 (down from JP¥143 in FY 2023). Revenue: JP¥138.2b (down 4.0% from FY 2023). Net income: JP¥2.78b (down 14% from FY 2023). Profit margin: 2.0% (down from 2.2% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥122 (vs JP¥143 in FY 2023) Full year 2024 results: EPS: JP¥122 (down from JP¥143 in FY 2023). Revenue: JP¥138.2b (down 4.0% from FY 2023). Net income: JP¥2.78b (down 14% from FY 2023). Profit margin: 2.0% (down from 2.2% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Aankondiging • May 15
Will Group, Inc., Annual General Meeting, Jun 22, 2024 Will Group, Inc., Annual General Meeting, Jun 22, 2024. Buy Or Sell Opportunity • May 07
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to JP¥1,066. The fair value is estimated to be JP¥885, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 4.7%. Buy Or Sell Opportunity • Apr 18
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to JP¥1,058. The fair value is estimated to be JP¥877, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 4.7%. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥7.13 (vs JP¥23.63 in 3Q 2023) Third quarter 2024 results: EPS: JP¥7.13 (down from JP¥23.63 in 3Q 2023). Revenue: JP¥34.6b (down 4.5% from 3Q 2023). Net income: JP¥162.0m (down 70% from 3Q 2023). Profit margin: 0.5% (down from 1.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. Aankondiging • Nov 29
Will Group, Inc. to Report Q3, 2024 Results on Feb 07, 2024 Will Group, Inc. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥29.91 (vs JP¥43.61 in 2Q 2023) Second quarter 2024 results: EPS: JP¥29.91 (down from JP¥43.61 in 2Q 2023). Revenue: JP¥34.8b (down 5.6% from 2Q 2023). Net income: JP¥679.0m (down 31% from 2Q 2023). Profit margin: 1.9% (down from 2.7% in 2Q 2023). The decrease in margin was driven by lower revenue. 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 7% per year. Aankondiging • Aug 19
Will Group, Inc. Provides Consolidated Earnings Guidance for the Six Months Ending September 30, 2023 and Year Ending March 31, 2024 Will Group, Inc. provided consolidated earnings guidance for the six months ending September 30, 2023 and year ending March 31, 2024. For the six months ending September 30, 2023, the company expects revenue of JPY 69,000 million, operating profit of JPY 1,900 million, profit of JPY 1,230 million and profit attributable to owners of parent of JPY 1,230 million or JPY 54.27 per basic share.For the year ending March 31, 2024, the company expects revenue of JPY 144,000 million, operating profit of JPY 4,200 million, profit of JPY 2,900 million and profit attributable to owners of parent of JPY 2,800 million or JPY 123.54 per basic share. Aankondiging • Aug 17
Will Group, Inc. Provides Year-End Dividend Guidance for the Year Ending March 31, 2024 Will Group, Inc. provided year-end dividend guidance for the year ending March 31, 2024. The company expects to pay year end dividend of JPY 44.00 per share compared to JPY 44.00 per share paid a year ago. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥31.90 (vs JP¥33.58 in 1Q 2023) First quarter 2024 results: EPS: JP¥31.90 (down from JP¥33.58 in 1Q 2023). Revenue: JP¥34.4b (down 2.8% from 1Q 2023). Net income: JP¥723.0m (down 4.6% from 1Q 2023). Profit margin: 2.1% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥143 (vs JP¥147 in FY 2022) Full year 2023 results: EPS: JP¥143 (down from JP¥147 in FY 2022). Revenue: JP¥143.9b (up 9.8% from FY 2022). Net income: JP¥3.24b (down 1.5% from FY 2022). Profit margin: 2.2% (down from 2.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Aankondiging • May 13
Will Group, Inc., Annual General Meeting, Jun 24, 2023 Will Group, Inc., Annual General Meeting, Jun 24, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥44.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥23.68 (vs JP¥41.55 in 3Q 2022) Third quarter 2023 results: EPS: JP¥23.68 (down from JP¥41.55 in 3Q 2022). Revenue: JP¥36.3b (up 7.6% from 3Q 2022). Net income: JP¥535.0m (down 42% from 3Q 2022). Profit margin: 1.5% (down from 2.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Chairman Ryosuke Ikeda is the most experienced director on the board, commencing their role in 2006. Independent Outside Director Masato Takahashi was the last independent director to join the board, commencing their role in 2022. 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. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥43.61 (vs JP¥44.61 in 2Q 2022) Second quarter 2023 results: EPS: JP¥43.61 (down from JP¥44.61 in 2Q 2022). Revenue: JP¥36.9b (up 14% from 2Q 2022). Net income: JP¥985.0m (down 1.1% from 2Q 2022). Profit margin: 2.7% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 28
Will Group, Inc. to Report Q3, 2023 Results on Feb 08, 2023 Will Group, Inc. announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥33.58 (vs JP¥31.52 in 1Q 2022) First quarter 2023 results: EPS: JP¥33.58 (up from JP¥31.52 in 1Q 2022). Revenue: JP¥35.4b (up 12% from 1Q 2022). Net income: JP¥758.0m (up 8.0% from 1Q 2022). Profit margin: 2.1% (in line with 1Q 2022). 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. Reported Earnings • Jun 24
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥131.1b (up 11% from FY 2021). Net income: JP¥3.29b (up 39% from FY 2021). Profit margin: 2.5% (up from 2.0% in FY 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥147 (vs JP¥106 in FY 2021) Full year 2022 results: EPS: JP¥147 (up from JP¥106 in FY 2021). Revenue: JP¥131.1b (up 11% from FY 2021). Net income: JP¥3.29b (up 39% from FY 2021). Profit margin: 2.5% (up from 2.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Aankondiging • May 13
Will Group, Inc., Annual General Meeting, Jun 21, 2022 Will Group, Inc., Annual General Meeting, Jun 21, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Chie Ikegawa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥41.60 (up from JP¥25.79 in 3Q 2021). Revenue: JP¥33.7b (up 13% from 3Q 2021). Net income: JP¥930.0m (up 62% from 3Q 2021). Profit margin: 2.8% (up from 1.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 21%. 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 4% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 01
Will Group, Inc. Provides Consolidated Earnings Guidance for Fiscal Year Ending March 31, 2022 Will Group, Inc. Provided its consolidated earnings guidance for the fiscal year ending March 31, 2022. The company expects revenue to be JPY 130,000 million, operating profit to be JPY 4,500 million, profit attributable to owners of parent to be JPY 2,510 million and basic earnings per share to be JPY 112.55. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥44.61 (vs JP¥30.24 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥32.4b (up 9.6% from 2Q 2021). Net income: JP¥996.0m (up 48% from 2Q 2021). Profit margin: 3.1% (up from 2.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 23
RareJob Inc. (TSE:6096) agreed to acquire 49% stake in Borderlink, Inc from Will Group, Inc. (TSE:6089) for approximately ¥930 million. RareJob Inc. (TSE:6096) agreed to acquire 49% stake in Borderlink, Inc from Will Group, Inc. (TSE:6089) for approximately ¥930 million on September 21, 2021. As per terms of transaction, RareJob Inc. will acquire 2166 shares. In addition, since the 51% that Will Group, Inc. continues to hold is given a call option that can be exercised after April 1, 2023. As on March 31, 2021, Borderlink, Inc reported net assets of ¥342.795 million, total assets of ¥719.751 million, sales of ¥2576.733 million, operating income of ¥236.145 million and net income of ¥155.822 million. Transaction is expected to complete on October 1, 2021.
In the consolidated financial statements of the Will Group, Inc., Borderlink will continue to be a consolidated subsidiary of the Will Group, Inc. even after the Business Alliance, so the amount equivalent to the gain on sale of shares (after deducting various expenses and taxes) will be used as capital surplus on the consolidated statement of financial position. The impact of this matter on the Will Group, Inc. consolidated business results is expected to be minor. Aankondiging • Sep 09
Will Group, Inc. Provides Earnings Guidance for the First Half and Full Year of Fiscal Year Ending March 31, 2022 Will Group, Inc. provided earnings guidance for the first half and full year of fiscal year ending March 31, 2022. For the first half, the company expects revenue to be JPY 63,500 million, operating profit to be JPY 2,000 million, profit to be JPY 1,360 million and basic earnings per share to be JPY 52.97.
For the full year ending March 31, 2022, the company expects revenue to be JPY 127,000 million, operating profit to be JPY 4,050 million, profit to be JPY 2,550 million and basic earnings per share to be JPY 102.35. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 27% share price gain to JP¥1,206, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 23x in the Professional Services industry in Japan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥31.51 (vs JP¥28.44 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: JP¥31.5b (up 10% from 1Q 2021). Net income: JP¥702.0m (up 11% from 1Q 2021). Profit margin: 2.2% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 26
Full year 2021 earnings released: EPS JP¥106 (vs JP¥107 in FY 2020) The company reported a soft full year result with weaker revenues, although earnings and profit margins were flat. Full year 2021 results: Revenue: JP¥118.2b (down 3.0% from FY 2020). Net income: JP¥2.36b (flat on FY 2020). Profit margin: 2.0% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥106 (vs JP¥107 in FY 2020) The company reported a soft full year result with weaker revenues, although earnings and profit margins were flat. Full year 2021 results: Revenue: JP¥118.2b (down 3.0% from FY 2020). Net income: JP¥2.36b (flat on FY 2020). Profit margin: 2.0% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (0.7%). Is New 90 Day High Low • Feb 24
New 90-day low: JP¥946 The company is down 5.0% from its price of JP¥999 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 13% over the same period.