Aankondiging • Feb 10
Yasue Corporation, Annual General Meeting, Mar 11, 2025 Yasue Corporation, Annual General Meeting, Mar 11, 2025. Aankondiging • Jan 17
Yasue Corporation to Delist from Standard Section of the Tokyo Stock Exchange, Effective February 12, 2025 Yasue Corporation will be delisted from Standard Section of the Tokyo Stock Exchange effective from February 12, 2025, due to acquisition by a demand for share, etc. cash-out. New Risk • Jan 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.4% net profit margin). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (JP¥3.55b market cap, or US$22.5m). Aankondiging • Dec 03
Yasue Corporation to Report Fiscal Year 2024 Results on Feb 10, 2025 Yasue Corporation announced that they will report fiscal year 2024 results on Feb 10, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: JP¥15.10 (vs JP¥65.82 in 3Q 2023) Third quarter 2024 results: EPS: JP¥15.10 (down from JP¥65.82 in 3Q 2023). Revenue: JP¥2.13b (flat on 3Q 2023). Net income: JP¥20.0m (down 77% from 3Q 2023). Profit margin: 0.9% (down from 4.1% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 23% per year. New Risk • Nov 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.7% 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 (8.7% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥2.53b market cap, or US$16.6m). Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,915, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 101% over the past three years. Aankondiging • Aug 27
Yasue Corporation to Report Q3, 2024 Results on Nov 12, 2024 Yasue Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥3.02 (vs JP¥11.35 in 2Q 2023) Second quarter 2024 results: EPS: JP¥3.02 (down from JP¥11.35 in 2Q 2023). Revenue: JP¥1.68b (up 2.6% from 2Q 2023). Net income: JP¥4.00m (down 73% from 2Q 2023). Profit margin: 0.2% (down from 0.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,200, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 15% over the past three years. Reported Earnings • May 13
First quarter 2024 earnings released: JP¥2.27 loss per share (vs JP¥16.71 profit in 1Q 2023) First quarter 2024 results: JP¥2.27 loss per share (down from JP¥16.71 profit in 1Q 2023). Revenue: JP¥1.55b (flat on 1Q 2023). Net loss: JP¥3.00m (down 114% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 24
Yasue Corporation to Report Q1, 2024 Results on May 10, 2024 Yasue Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: JP¥154 (vs JP¥104 in FY 2022) Full year 2023 results: EPS: JP¥154 (up from JP¥104 in FY 2022). Revenue: JP¥7.40b (up 5.0% from FY 2022). Net income: JP¥204.0m (up 51% from FY 2022). Profit margin: 2.8% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 11
Yasue Corporation, Annual General Meeting, Mar 27, 2024 Yasue Corporation, Annual General Meeting, Mar 27, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥35.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 March 2024. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Aankondiging • Dec 05
Yasue Corporation to Report Fiscal Year 2023 Results on Feb 09, 2024 Yasue Corporation announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: JP¥65.82 (vs JP¥13.01 in 3Q 2022) Third quarter 2023 results: EPS: JP¥65.82 (up from JP¥13.01 in 3Q 2022). Revenue: JP¥2.14b (up 31% from 3Q 2022). Net income: JP¥87.0m (up 412% from 3Q 2022). Profit margin: 4.1% (up from 1.0% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 30
Yasue Corporation to Report Q3, 2023 Results on Nov 10, 2023 Yasue Corporation announced that they will report Q3, 2023 results on Nov 10, 2023 New Risk • Aug 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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 have declined by 0.2% per year over the past 5 years. High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥1.59b market cap, or US$11.0m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: JP¥11.35 (vs JP¥16.08 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥11.35 (up from JP¥16.08 loss in 2Q 2022). Revenue: JP¥1.63b (down 4.6% from 2Q 2022). Net income: JP¥15.0m (up JP¥36.0m from 2Q 2022). Profit margin: 0.9% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥1,399, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 10x in the Consumer Durables industry in Japan. Total returns to shareholders of 55% over the past three years. Aankondiging • May 31
Yasue Corporation to Report Q2, 2023 Results on Aug 09, 2023 Yasue Corporation announced that they will report Q2, 2023 results on Aug 09, 2023 Reported Earnings • May 17
First quarter 2023 earnings released: EPS: JP¥16.71 (vs JP¥11.58 in 1Q 2022) First quarter 2023 results: EPS: JP¥16.71 (up from JP¥11.58 in 1Q 2022). Revenue: JP¥1.56b (up 4.2% from 1Q 2022). Net income: JP¥22.0m (up 47% from 1Q 2022). Profit margin: 1.4% (up from 1.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 15
Yasue Corporation to Report Q1, 2023 Results on May 12, 2023 Yasue Corporation announced that they will report Q1, 2023 results on May 12, 2023 Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥104 (vs JP¥69.66 in FY 2021) Full year 2022 results: EPS: JP¥104 (up from JP¥69.66 in FY 2021). Revenue: JP¥7.05b (up 1.9% from FY 2021). Net income: JP¥135.0m (up 50% from FY 2021). Profit margin: 1.9% (up from 1.3% 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 25% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 12
Yasue Corporation, Annual General Meeting, Mar 29, 2023 Yasue Corporation, Annual General Meeting, Mar 29, 2023. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,459, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 10x in the Consumer Durables industry in Japan. Total returns to shareholders of 29% over the past three years. Buying Opportunity • Jan 22
Now 21% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be JP¥1,466, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 12%. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,111, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 9x in the Consumer Durables industry in Japan. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 13 March 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.0%). Aankondiging • Dec 06
Yasue Corporation to Report Fiscal Year 2022 Results on Feb 10, 2023 Yasue Corporation announced that they will report fiscal year 2022 results on Feb 10, 2023 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Aankondiging • Aug 28
Yasue Corporation to Report Q3, 2022 Results on Nov 09, 2022 Yasue Corporation announced that they will report Q3, 2022 results on Nov 09, 2022 Reported Earnings • Aug 11
Second quarter 2022 earnings released: JP¥16.08 loss per share (vs JP¥19.38 profit in 2Q 2021) Second quarter 2022 results: JP¥16.08 loss per share (down from JP¥19.38 profit in 2Q 2021). Revenue: JP¥1.71b (up 7.2% from 2Q 2021). Net loss: JP¥21.0m (down 184% from profit in 2Q 2021). 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 3% per year, which means it has not declined as severely as earnings. Aankondiging • May 29
Yasue Corporation to Report Q2, 2022 Results on Aug 09, 2022 Yasue Corporation announced that they will report Q2, 2022 results on Aug 09, 2022 Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Aankondiging • Feb 27
Yasue Corporation to Report Q1, 2022 Results on May 13, 2022 Yasue Corporation announced that they will report Q1, 2022 results on May 13, 2022 Aankondiging • Feb 12
Yasue Corporation, Annual General Meeting, Mar 29, 2022 Yasue Corporation, Annual General Meeting, Mar 29, 2022. Reported Earnings • Feb 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥69.66 (up from JP¥10.12 loss in FY 2020). Revenue: JP¥6.91b (up 28% from FY 2020). Net income: JP¥90.0m (up JP¥103.0m from FY 2020). Profit margin: 1.3% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 34% 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. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 March 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 15
First half 2021 earnings released: EPS JP¥20.93 (vs JP¥53.67 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: JP¥3.19b (up 38% from 1H 2020). Net income: JP¥27.0m (up JP¥96.0m from 1H 2020). Profit margin: 0.8% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 04
Full year 2020 earnings released: JP¥10.12 loss per share (vs JP¥94.66 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: JP¥5.40b (up 6.7% from FY 2019). Net loss: JP¥13.0m (down 111% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 03
Yasue Corporation to Report Q1, 2021 Results on May 14, 2021 Yasue Corporation announced that they will report Q1, 2021 results on May 14, 2021 Is New 90 Day High Low • Feb 26
New 90-day high: JP¥1,059 The company is up 5.0% from its price of JP¥1,010 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 16% over the same period. Aankondiging • Feb 11
Yasue Corporation, Annual General Meeting, Mar 26, 2021 Yasue Corporation, Annual General Meeting, Mar 26, 2021. Reported Earnings • Feb 11
Full year 2020 earnings released: JP¥10.12 loss per share (vs JP¥94.66 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: JP¥5.40b (up 6.7% from FY 2019). Net loss: JP¥13.0m (down 111% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 10
New 90-day high: JP¥1,058 The company is up 2.0% from its price of JP¥1,036 on 12 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 26% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥18.00 Per Share Will be paid on the 12th of March to those who are registered shareholders by the 29th of December. The trailing yield of 4.5% is in the top quartile of Japanese dividend payers (3.0%), and it is higher than industry peers (1.4%). Is New 90 Day High Low • Dec 15
New 90-day low: JP¥1,000 The company is down 4.0% from its price of JP¥1,040 on 16 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 14% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: JP¥27.32 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: JP¥1.10b (down 23% from 3Q 2019). Net loss: JP¥35.0m (down 153% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Aankondiging • Oct 02
Yasue Corporation (JASDAQ:1439) agreed to acquire Mima Co., Ltd. from Konosuke Mima and other two individual shareholders for approximately ¥270 million. Yasue Corporation (JASDAQ:1439) agreed to acquire Mima Co., Ltd. from Konosuke Mima and other two individual shareholders for approximately ¥270 million on October 1, 2020. As part of the consideration Yasue Corporation will acquire 200 shares in Mima Co., Ltd. As part of the transaction Yasue Corporation will acquire 88% stake from Konosuke Mima and 12% stake from other two individual shareholders in Mima Co., Ltd. The total consideration amount includes ¥240 million advisory expenses. In the September 30, 2019 Mima Co., Ltd. reported net worth of ¥93 million, total assets of ¥465 million, sales of ¥862 million, operating income of ¥63 million and net income of ¥45 million. Board of directors of Yasue Corporation resolved the transaction. The planned share acquisition date is October 14, 2020. Is New 90 Day High Low • Sep 29
New 90-day high: JP¥1,086 The company is up 19% from its price of JP¥914 on 01 July 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 7.0% over the same period. Aankondiging • Sep 12
Yasue Corporation to Report Q3, 2020 Results on Nov 10, 2020 Yasue Corporation announced that they will report Q3, 2020 results on Nov 10, 2020 Aankondiging • Jul 05
Yasue Corporation to Report Q2, 2020 Results on Aug 07, 2020 Yasue Corporation announced that they will report Q2, 2020 results on Aug 07, 2020