New Risk • May 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JP¥1.59b (US$9.98m) This is considered a major 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 1.8% per year over the past 5 years. Market cap is less than US$10m (JP¥1.59b market cap, or US$9.98m). Minor Risk Profit margins are more than 30% lower than last year (0.3% net profit margin). New Risk • May 09
New major risk - Revenue and earnings growth Earnings have declined by 1.8% 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 1.8% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (JP¥1.86b market cap, or US$11.8m). Reported Earnings • May 09
First quarter 2026 earnings released: JP¥3.66 loss per share (vs JP¥6.59 loss in 1Q 2025) First quarter 2026 results: JP¥3.66 loss per share (improved from JP¥6.59 loss in 1Q 2025). Revenue: JP¥596.0m (down 26% from 1Q 2025). Net loss: JP¥15.0m (loss narrowed 44% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Aankondiging • May 08
GRANDES, Inc. to Report Q1, 2026 Results on May 08, 2026 GRANDES, Inc. announced that they will report Q1, 2026 results on May 08, 2026 Reported Earnings • Feb 11
Full year 2025 earnings released: JP¥0.73 loss per share (vs JP¥69.43 profit in FY 2024) Full year 2025 results: JP¥0.73 loss per share (down from JP¥69.43 profit in FY 2024). Revenue: JP¥3.42b (down 19% from FY 2024). Net loss: JP¥3.00m (down 101% from profit in FY 2024). 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. Aankondiging • Feb 10
GRANDES, Inc., Annual General Meeting, Mar 26, 2026 GRANDES, Inc., Annual General Meeting, Mar 26, 2026. New Risk • Dec 22
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 Japanese stocks, typically moving 7.4% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (JP¥3.65b market cap, or US$23.2m). Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥891, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 153% over the past three years. Aankondiging • Dec 03
GRANDES, Inc. to Report Fiscal Year 2025 Results on Feb 10, 2026 GRANDES, Inc. announced that they will report fiscal year 2025 results on Feb 10, 2026 Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: JP¥3.42 (vs JP¥10.29 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥3.42 (up from JP¥10.29 loss in 3Q 2024). Revenue: JP¥872.0m (up 17% from 3Q 2024). Net income: JP¥14.0m (up JP¥50.0m from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Sep 01
GRANDES, Inc. to Report Q3, 2025 Results on Nov 10, 2025 GRANDES, Inc. announced that they will report Q3, 2025 results on Nov 10, 2025 Reported Earnings • Aug 10
Second quarter 2025 earnings released: JP¥11.71 loss per share (vs JP¥0.86 profit in 2Q 2024) Second quarter 2025 results: JP¥11.71 loss per share (down from JP¥0.86 profit in 2Q 2024). Revenue: JP¥649.0m (down 24% from 2Q 2024). Net loss: JP¥48.0m (down JP¥51.0m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.8% Last year net profit margin: 5.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.2% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (3.8% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (JP¥4.49b market cap, or US$30.4m). Aankondiging • May 31
GRANDES, Inc. to Report Q2, 2025 Results on Aug 08, 2025 GRANDES, Inc. announced that they will report Q2, 2025 results on Aug 08, 2025 Reported Earnings • May 11
First quarter 2025 earnings released: JP¥6.59 loss per share (vs JP¥8.00 profit in 1Q 2024) First quarter 2025 results: JP¥6.59 loss per share (down from JP¥8.00 profit in 1Q 2024). Revenue: JP¥800.0m (down 20% from 1Q 2024). Net loss: JP¥27.0m (down 196% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,057, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 11x in the Consumer Durables industry in Japan. Total returns to shareholders of 214% over the past three years. Aankondiging • Mar 01
GRANDES, Inc. to Report Q1, 2025 Results on May 09, 2025 GRANDES, Inc. announced that they will report Q1, 2025 results on May 09, 2025 New Risk • Feb 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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: Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (JP¥4.40b market cap, or US$28.9m). Reported Earnings • Feb 12
Full year 2024 earnings released: EPS: JP¥69.43 (vs JP¥50.86 in FY 2023) Full year 2024 results: EPS: JP¥69.43 (up from JP¥50.86 in FY 2023). Revenue: JP¥4.23b (down 8.1% from FY 2023). Net income: JP¥251.0m (up 41% from FY 2023). Profit margin: 5.9% (up from 3.9% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 10
GRANDES, Inc., Annual General Meeting, Mar 27, 2025 GRANDES, Inc., Annual General Meeting, Mar 27, 2025. Aankondiging • Jan 06
GRANDES, Inc. (TSE:3261) completed the acquisition of san-ai-home Inc. from ITbook Holdings Co.,Ltd. (TSE:1447) GRANDES, Inc. (TSE:3261) agreed to acquire san-ai-home Inc. from ITbook Holdings Co.,Ltd. (TSE:1447) for approximately ¥460 million on December 17, 2024. A cash consideration of ¥455 million will be paid by GRANDES, Inc. As part of consideration, ¥455 million is paid towards common equity of san-ai-home Inc. For the period ending March 31, 2024, san-ai-home Inc. reported total revenue of ¥689 million and net loss of ¥51 million. As of March 31, 2024, san-ai-home Inc. reported total assets of ¥1.49 billion and total common equity of ¥396 million. The expected completion of the transaction is January 6, 2025.
GRANDES, Inc. (TSE:3261) completed the acquisition of san-ai-home Inc. from ITbook Holdings Co.,Ltd. (TSE:1447) on January 6, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is on the higher end at 77% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (1.6%). Aankondiging • Dec 03
GRANDES, Inc. to Report Fiscal Year 2024 Results on Feb 10, 2025 GRANDES, Inc. announced that they will report fiscal year 2024 results on Feb 10, 2025 New Risk • Nov 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 9.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (JP¥8.62b market cap, or US$55.9m). Reported Earnings • Nov 11
Third quarter 2024 earnings released: JP¥10.29 loss per share (vs JP¥37.14 profit in 3Q 2023) Third quarter 2024 results: JP¥10.29 loss per share (down from JP¥37.14 profit in 3Q 2023). Revenue: JP¥747.0m (down 29% from 3Q 2023). Net loss: JP¥36.0m (down 128% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 3.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 9.9% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (JP¥4.36b market cap, or US$28.6m). New Risk • Sep 25
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 Japanese stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.5% per year over the past 5 years. High level of non-cash earnings (52% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (JP¥2.57b market cap, or US$17.8m). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥634, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 62% over the past three years. Aankondiging • Aug 27
GRANDES, Inc. to Report Q3, 2024 Results on Nov 08, 2024 GRANDES, Inc. announced that they will report Q3, 2024 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥587, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 11x in the Consumer Durables industry in Japan. Total returns to shareholders of 50% over the past three years. New Risk • Aug 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 52% 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 Earnings have declined by 8.5% per year over the past 5 years. High level of non-cash earnings (52% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥2.00b market cap, or US$13.6m). Aankondiging • Jun 02
GRANDES, Inc. to Report Q2, 2024 Results on Aug 09, 2024 GRANDES, Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 13
First quarter 2024 earnings released: EPS: JP¥8.00 (vs JP¥20.57 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥8.00 (up from JP¥20.57 loss in 1Q 2023). Revenue: JP¥1.00b (up 13% from 1Q 2023). Net income: JP¥28.0m (up JP¥100.0m from 1Q 2023). Profit margin: 2.8% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥482, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 36% over the past three years. Aankondiging • Feb 28
GRANDES, Inc. to Report Q1, 2024 Results on May 10, 2024 GRANDES, Inc. announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Feb 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (7.9% average weekly change). Earnings have declined by 23% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (JP¥1.37b market cap, or US$9.09m). Minor Risk Paying a dividend despite having no free cash flows. Aankondiging • Feb 11
GRANDES, Inc., Annual General Meeting, Mar 28, 2024 GRANDES, Inc., Annual General Meeting, Mar 28, 2024. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: JP¥50.86 (vs JP¥18.57 in FY 2022) Full year 2023 results: EPS: JP¥50.86 (up from JP¥18.57 in FY 2022). Revenue: JP¥4.60b (up 73% from FY 2022). Net income: JP¥178.0m (up 174% from FY 2022). Profit margin: 3.9% (up from 2.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥10.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Aankondiging • Dec 05
GRANDES, Inc. to Report Fiscal Year 2023 Results on Feb 09, 2024 GRANDES, Inc. announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: JP¥37.14 (vs JP¥2.00 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥37.14 (up from JP¥2.00 loss in 3Q 2022). Revenue: JP¥1.06b (up 233% from 3Q 2022). Net income: JP¥130.0m (up JP¥137.0m from 3Q 2022). Profit margin: 12% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Aankondiging • Aug 30
GRANDES, Inc. to Report Q3, 2023 Results on Nov 10, 2023 GRANDES, Inc. announced that they will report Q3, 2023 results on Nov 10, 2023 Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: JP¥13.43 (vs JP¥10.00 in 2Q 2022) Second quarter 2023 results: EPS: JP¥13.43 (up from JP¥10.00 in 2Q 2022). Revenue: JP¥1.59b (up 165% from 2Q 2022). Net income: JP¥47.0m (up 34% from 2Q 2022). Profit margin: 2.9% (down from 5.8% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • May 28
GRANDES, Inc. to Report Q2, 2023 Results on Aug 10, 2023 GRANDES, Inc. announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: JP¥20.57 loss per share (vs JP¥3.14 loss in 1Q 2022) First quarter 2023 results: JP¥20.57 loss per share (further deteriorated from JP¥3.14 loss in 1Q 2022). Revenue: JP¥888.0m (up 260% from 1Q 2022). Net loss: JP¥72.0m (loss widened JP¥61.0m from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥18.57 (vs JP¥50.54 in FY 2021) Full year 2022 results: EPS: JP¥18.57 (down from JP¥50.54 in FY 2021). Revenue: JP¥2.66b (down 5.2% from FY 2021). Net income: JP¥65.0m (down 64% from FY 2021). Profit margin: 2.4% (down from 6.5% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 19% 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 • Feb 12
GRANDES, Inc., Annual General Meeting, Mar 30, 2023 GRANDES, Inc., Annual General Meeting, Mar 30, 2023. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.0%). Aankondiging • Dec 06
GRANDES, Inc. to Report Fiscal Year 2022 Results on Feb 10, 2023 GRANDES, Inc. 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. 2 experienced directors. 5 highly experienced directors. No independent directors (4 non-independent directors). External Director Eriko Sakai was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: JP¥2.00 loss per share (vs JP¥10.54 profit in 3Q 2021) Third quarter 2022 results: JP¥2.00 loss per share (down from JP¥10.54 profit in 3Q 2021). Revenue: JP¥317.0m (down 44% from 3Q 2021). Net loss: JP¥7.00m (down 118% from profit in 3Q 2021). 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 9% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 28
GRANDES, Inc. to Report Q3, 2022 Results on Nov 10, 2022 GRANDES, Inc. announced that they will report Q3, 2022 results on Nov 10, 2022 Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: JP¥10.00 (vs JP¥23.64 in 2Q 2021) Second quarter 2022 results: EPS: JP¥10.00 (down from JP¥23.64 in 2Q 2021). Revenue: JP¥601.0m (down 49% from 2Q 2021). Net income: JP¥35.0m (down 59% from 2Q 2021). Profit margin: 5.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% 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. Aankondiging • May 30
GRANDES, Inc. to Report Q2, 2022 Results on Aug 10, 2022 GRANDES, Inc. announced that they will report Q2, 2022 results on Aug 10, 2022 Reported Earnings • May 11
First quarter 2022 earnings released: JP¥3.14 loss per share (vs JP¥2.75 loss in 1Q 2021) First quarter 2022 results: JP¥3.14 loss per share (down from JP¥2.75 loss in 1Q 2021). Revenue: JP¥247.0m (down 3.1% from 1Q 2021). Net loss: JP¥11.0m (loss widened 10.0% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 19% 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. 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. 2 experienced directors. 5 highly experienced directors. No independent directors (4 non-independent directors). External Director Eriko Sakai was the last director to join the board, commencing their role in 2015. 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
GRANDES, Inc. to Report Q1, 2022 Results on May 10, 2022 GRANDES, Inc. announced that they will report Q1, 2022 results on May 10, 2022 Aankondiging • Feb 12
GRANDES, Inc., Annual General Meeting, Mar 24, 2022 GRANDES, Inc., Annual General Meeting, Mar 24, 2022. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS JP¥10.54 (vs JP¥4.67 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥568.0m (up 61% from 3Q 2020). Net income: JP¥38.0m (up 124% from 3Q 2020). Profit margin: 6.7% (up from 4.8% in 3Q 2020). 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 remained flat, which means it is well ahead of earnings. Aankondiging • Jun 15
GRANDES, Inc. (TSE:3261) announces an Equity Buyback for 200,000 shares, representing 5.5% for ¥100 million. GRANDES, Inc. (TSE:3261) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 5.5% of the outstanding shares for ¥100 million. The purpose of the program is to enhance capital efficiency, improve shareholder returns and implement a flexible capital policy in response to changes in the business environment. The program will run until December 27, 2021. As of December 31, 2020, the company had 3,637,874 shares outstanding and 37 shares in treasury. Reported Earnings • May 12
First quarter 2021 earnings released: JP¥2.75 loss per share (vs JP¥4.12 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: JP¥255.0m (down 18% from 1Q 2020). Net loss: JP¥10.0m (loss narrowed 33% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 29% 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. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS JP¥23.09 (vs JP¥66.42 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥1.77b (down 32% from FY 2019). Net income: JP¥84.0m (down 67% from FY 2019). Profit margin: 4.7% (down from 9.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% 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 • Mar 21
GRANDES, Inc. to Report Q1, 2021 Results on May 10, 2021 GRANDES, Inc. announced that they will report Q1, 2021 results on May 10, 2021 Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥23.09 (vs JP¥66.42 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥1.77b (down 32% from FY 2019). Net income: JP¥84.0m (down 67% from FY 2019). Profit margin: 4.7% (down from 9.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% 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. Aankondiging • Feb 12
GRANDES, Inc., Annual General Meeting, Mar 25, 2021 GRANDES, Inc., Annual General Meeting, Mar 25, 2021. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥453, the stock is trading at a trailing P/E ratio of 30x, up from the previous P/E ratio of 24.4x. This compares to an average P/E of 12x in the Consumer Durables industry in Japan. Total returns to shareholders over the past three years are 16%. Is New 90 Day High Low • Feb 02
New 90-day high: JP¥453 The company is up 8.0% from its price of JP¥421 on 04 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 20% over the same period. Aankondiging • Aug 30
GRANDES, Inc. to Report Q3, 2020 Results on Nov 12, 2020 GRANDES, Inc. announced that they will report Q3, 2020 results on Nov 12, 2020