Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥415, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Entertainment industry in Japan. Total returns to shareholders of 13% over the past three years. New Risk • Jul 15
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 6.4% 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 Earnings are forecast to decline by an average of 8.0% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥308, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Entertainment industry in Japan. Total loss to shareholders of 14% over the past three years. Aankondiging • Jun 30
Bushiroad Inc. (TSE:7803) announces an Equity Buyback for 8,000,000 shares, representing 5.89% for ¥2,000 million. Bushiroad Inc. (TSE:7803) announces a share repurchase program. Under the program, the company will repurchase up to 8,000,000 shares, representing 5.89% of its total shares outstanding (excluding treasury shares), for a total of ¥2,000 million. The purpose of the repurchase program is improvement of shareholder value. The repurchase program is valid till December 31, 2026. As of June 30, 2026, the company has 135,888,166 shares outstanding (excluding treasury shares) and has 1,592,934 shares in treasury. Aankondiging • Jun 28
Bushiroad Inc. to Report Fiscal Year 2026 Results on Aug 13, 2026 Bushiroad Inc. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on Aug 13, 2026 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥2.50 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 28 September 2026. Payout ratio is a comfortable 5.8% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (2.2%). Reported Earnings • May 16
Third quarter 2026 earnings released: EPS: JP¥7.51 (vs JP¥3.31 in 3Q 2025) Third quarter 2026 results: EPS: JP¥7.51 (up from JP¥3.31 in 3Q 2025). Revenue: JP¥14.5b (up 6.4% from 3Q 2025). Net income: JP¥1.02b (up 126% from 3Q 2025). Profit margin: 7.0% (up from 3.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 16
Dividend of JP¥2.50 announced Shareholders will receive a dividend of JP¥2.50. Ex-date: 29th June 2026 Payment date: 28th September 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 3%. Aankondiging • Dec 27
Bushiroad Inc. to Report Q2, 2026 Results on Feb 13, 2026 Bushiroad Inc. announced that they will report Q2, 2026 results on Feb 13, 2026 Major Estimate Revision • Dec 10
Consensus EPS estimates increase by 36% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥57.3b to JP¥58.6b. EPS estimate increased from JP¥23.60 to JP¥32.10 per share. Net income forecast to shrink 16% next year vs 7.5% growth forecast for Entertainment industry in Japan . Consensus price target of JP¥600 unchanged from last update. Share price was steady at JP¥298 over the past week. Reported Earnings • Nov 18
First quarter 2026 earnings released: EPS: JP¥24.53 (vs JP¥0.42 in 1Q 2025) First quarter 2026 results: EPS: JP¥24.53 (up from JP¥0.42 in 1Q 2025). Revenue: JP¥13.8b (up 12% from 1Q 2025). Net income: JP¥1.66b (up JP¥1.60b from 1Q 2025). Profit margin: 12% (up from 0.5% in 1Q 2025). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Nov 17
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 9.3% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥368, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 4.3% over the past three years. Aankondiging • Sep 23
Bushiroad Inc. to Report Q1, 2026 Results on Nov 14, 2025 Bushiroad Inc. announced that they will report Q1, 2026 results on Nov 14, 2025 Aankondiging • Sep 17
Bushiroad Inc. (TSE:7803) agreed to acquire an additional 21.6% stake in YUHODO Inc. Bushiroad Inc. (TSE:7803) agreed to acquire an additional 21.6% stake in YUHODO Inc. on September 16, 2025. Upon completion, Bushiroad Inc. will own 38.3% stake in YUHODO Inc. Before completion, Bushiroad Inc. owns 16.7% stake in YUHODO Inc. After completion, Bushiroad Inc. will own 38.3% stake in YUHODO Inc. Reported Earnings • Aug 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥49.70 (up from JP¥11.37 in FY 2024). Revenue: JP¥56.2b (up 21% from FY 2024). Net income: JP¥3.42b (up 325% from FY 2024). Profit margin: 6.1% (up from 1.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Entertainment industry in Japan. 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 • Aug 14
Bushiroad Inc., Annual General Meeting, Sep 25, 2025 Bushiroad Inc., Annual General Meeting, Sep 25, 2025. Aankondiging • Jun 26
Bushiroad Inc. to Report Fiscal Year 2025 Results on Aug 14, 2025 Bushiroad Inc. announced that they will report fiscal year 2025 results on Aug 14, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of JP¥4.50 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 29 September 2025. Payout ratio is a comfortable 12% but the company is paying out more than the cash it is generating. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (1.1%). Price Target Changed • May 24
Price target increased by 20% to JP¥1,200 Up from JP¥1,000, the current price target is provided by 1 analyst. New target price is 82% above last closing price of JP¥658. Stock is up 108% over the past year. The company is forecast to post earnings per share of JP¥37.70 for next year compared to JP¥11.37 last year. Reported Earnings • May 20
Third quarter 2025 earnings released: EPS: JP¥6.61 (vs JP¥0.54 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥6.61 (up from JP¥0.54 loss in 3Q 2024). Revenue: JP¥13.6b (up 27% from 3Q 2024). Net income: JP¥452.0m (up JP¥490.0m from 3Q 2024). Profit margin: 3.3% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has fallen by 37% 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. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥637, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Entertainment industry in Japan. Total loss to shareholders of 10% over the past three years. Buy Or Sell Opportunity • May 08
Now 21% undervalued Over the last 90 days, the stock has risen 20% to JP¥536. The fair value is estimated to be JP¥675, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last year. Earnings per share has grown by 67%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Buy Or Sell Opportunity • Apr 21
Now 21% undervalued Over the last 90 days, the stock has risen 35% to JP¥553. The fair value is estimated to be JP¥696, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last year. Earnings per share has grown by 67%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥446, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Entertainment industry in Japan. Total loss to shareholders of 39% over the past three years. New Risk • Apr 03
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 7.5% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 30
Now 20% undervalued Over the last 90 days, the stock has risen 46% to JP¥597. The fair value is estimated to be JP¥747, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last year. Earnings per share has grown by 67%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Aankondiging • Mar 26
Bushiroad Inc. to Report Q3, 2025 Results on May 15, 2025 Bushiroad Inc. announced that they will report Q3, 2025 results on May 15, 2025 Major Estimate Revision • Feb 22
Consensus EPS estimates increase by 106% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥51.6b to JP¥52.2b. EPS estimate increased from JP¥18.50 to JP¥38.10 per share. Net income forecast to grow 28% next year vs 15% growth forecast for Entertainment industry in Japan. Consensus price target up from JP¥950 to JP¥1,000. Share price rose 18% to JP¥539 over the past week. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥536, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Entertainment industry in Japan. Total loss to shareholders of 5.5% over the past three years. Declared Dividend • Feb 17
Dividend of JP¥4.50 announced Dividend of JP¥4.50 is the same as last year. Ex-date: 27th June 2025 Payment date: 29th September 2025 Dividend yield will be 0.8%, which is lower than the industry average of 1.8%. Reported Earnings • Feb 16
Second quarter 2025 earnings released: EPS: JP¥17.45 (vs JP¥4.04 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥17.45 (up from JP¥4.04 loss in 2Q 2024). Revenue: JP¥13.5b (up 28% from 2Q 2024). Net income: JP¥1.18b (up JP¥1.47b from 2Q 2024). Profit margin: 8.8% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in Japan. Aankondiging • Jan 03
Bushiroad Inc. to Report Q2, 2025 Results on Feb 14, 2025 Bushiroad Inc. announced that they will report Q2, 2025 results on Feb 14, 2025 Board Change • Nov 14
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, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Kazuhiko Torishima 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. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥389, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 22x in the Entertainment industry in Japan. Total loss to shareholders of 62% over the past three years. Major Estimate Revision • Aug 31
Consensus EPS estimates increase by 71% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥49.1b to JP¥51.1b. EPS estimate increased from JP¥10.00 to JP¥17.10 per share. Net income forecast to grow 49% next year vs 23% growth forecast for Entertainment industry in Japan. Consensus price target up from JP¥900 to JP¥950. Share price rose 6.3% to JP¥371 over the past week. Reported Earnings • Aug 18
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥11.37 (down from JP¥29.12 in FY 2023). Revenue: JP¥46.3b (down 5.2% from FY 2023). Net income: JP¥804.0m (down 61% from FY 2023). Profit margin: 1.7% (down from 4.2% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Entertainment industry in Japan. 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 16% per year. Aankondiging • Aug 13
Bushiroad Inc., Annual General Meeting, Sep 26, 2024 Bushiroad Inc., Annual General Meeting, Sep 26, 2024. 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 Japanese stocks, typically moving 9.1% 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 (9.1% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥286, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 44% over the past three years. Buy Or Sell Opportunity • Jul 01
Now 47% undervalued The stock has been flat over the last 90 days, currently trading at JP¥378. The fair value is estimated to be JP¥717, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Buy Or Sell Opportunity • Jun 18
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥376. The fair value is estimated to be JP¥471, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Price Target Changed • Jun 06
Price target decreased by 18% to JP¥900 Down from JP¥1,100, the current price target is provided by 1 analyst. New target price is 171% above last closing price of JP¥332. Stock is down 60% over the past year. The company is forecast to post earnings per share of JP¥8.60 for next year compared to JP¥29.12 last year. Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥47.8b to JP¥45.0b. EPS estimate also fell from JP¥14.10 per share to JP¥8.60 per share. Net income forecast to shrink 14% next year vs 5.8% growth forecast for Entertainment industry in Japan . Consensus price target down from JP¥1,100 to JP¥900. Share price was steady at JP¥332 over the past week. Reported Earnings • May 18
Third quarter 2024 earnings released: JP¥0.54 loss per share (vs JP¥5.88 profit in 3Q 2023) Third quarter 2024 results: JP¥0.54 loss per share (down from JP¥5.88 profit in 3Q 2023). Revenue: JP¥10.7b (down 3.1% from 3Q 2023). Net loss: JP¥38.0m (down 109% from profit in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Aankondiging • Feb 29
Bushiroad Inc. to Report Q3, 2024 Results on May 14, 2024 Bushiroad Inc. announced that they will report Q3, 2024 results on May 14, 2024 Declared Dividend • Feb 16
Dividend of JP¥4.50 announced Dividend of JP¥4.50 is the same as last year. Ex-date: 27th June 2024 Payment date: 27th September 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 171% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Second quarter 2024 earnings released: JP¥4.04 loss per share (vs JP¥2.64 profit in 2Q 2023) Second quarter 2024 results: JP¥4.04 loss per share (down from JP¥2.64 profit in 2Q 2023). Revenue: JP¥10.6b (down 10% from 2Q 2023). Net loss: JP¥286.0m (down 254% from profit in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥370, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 50% over the past three years. Aankondiging • Dec 24
Bushiroad Inc. to Report Q2, 2024 Results on Feb 13, 2024 Bushiroad Inc. announced that they will report Q2, 2024 results on Feb 13, 2024 Reported Earnings • Nov 18
First quarter 2024 earnings released: EPS: JP¥4.19 (vs JP¥9.14 in 1Q 2023) First quarter 2024 results: EPS: JP¥4.19 (down from JP¥9.14 in 1Q 2023). Revenue: JP¥11.6b (down 6.1% from 1Q 2023). Net income: JP¥299.0m (down 54% from 1Q 2023). Profit margin: 2.6% (down from 5.2% in 1Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.2% 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 (9.2% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.2% net profit margin). Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥560, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 32% over the past three years. Aankondiging • Aug 16
Bushiroad Inc., Annual General Meeting, Sep 26, 2023 Bushiroad Inc., Annual General Meeting, Sep 26, 2023. New Risk • Aug 16
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 7.6% 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: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.2% net profit margin). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Reported Earnings • Aug 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥29.12 (down from JP¥54.81 in FY 2022). Revenue: JP¥48.8b (up 16% from FY 2022). Net income: JP¥2.05b (down 42% from FY 2022). Profit margin: 4.2% (down from 8.4% in FY 2022). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥559, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 9.7% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥771, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Entertainment industry in Japan. Total returns to shareholders of 8.8% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥4.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 28 September 2023. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.6%). Reported Earnings • May 18
Third quarter 2023 earnings released: EPS: JP¥5.88 (vs JP¥22.87 in 3Q 2022) Third quarter 2023 results: EPS: JP¥5.88 (down from JP¥22.87 in 3Q 2022). Revenue: JP¥11.1b (down 14% from 3Q 2022). Net income: JP¥414.0m (down 72% from 3Q 2022). Profit margin: 3.7% (down from 11% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥818, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Entertainment industry in Japan. Total returns to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥881 per share. Reported Earnings • Feb 19
Second quarter 2023 earnings released: EPS: JP¥2.64 (vs JP¥22.87 in 2Q 2022) Second quarter 2023 results: EPS: JP¥2.64 (down from JP¥22.87 in 2Q 2022). Revenue: JP¥11.8b (down 9.2% from 2Q 2022). Net income: JP¥186.0m (down 87% from 2Q 2022). Profit margin: 1.6% (down from 11% in 2Q 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 13
Bushiroad Inc. Provides Consolidated Earnings Guidance for the Year Ending June 30, 2023 Bushiroad Inc. provided consolidated earnings guidance for the year ending June 30, 2023. For the year, the company expected net sales of JPY 50,000 million, operating profit of JPY 3,500 million, net profit attributable to owners of parent of JPY 2,300 million and net profit per share of JPY 32.71. Aankondiging • Dec 24
Bushiroad Inc. to Report Q2, 2023 Results on Feb 14, 2023 Bushiroad Inc. announced that they will report Q2, 2023 results on Feb 14, 2023 Reported Earnings • Nov 18
First quarter 2023 earnings released First quarter 2023 results: EPS: JP¥18.29. Net income: JP¥643.0m (up JP¥643.0m from 1Q 2022). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Entertainment industry in Japan. Price Target Changed • Nov 16
Price target increased to JP¥1,275 Up from JP¥1,100, the current price target is an average from 2 analysts. New target price is 55% above last closing price of JP¥822. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥35.35 for next year compared to JP¥54.81 last year. Buying Opportunity • Nov 09
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be JP¥1,085, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings is also forecast to grow by 3.6% per annum over the same time period. Aankondiging • Sep 24
Bushiroad Inc. to Report Q1, 2023 Results on Nov 14, 2022 Bushiroad Inc. announced that they will report Q1, 2023 results on Nov 14, 2022 Major Estimate Revision • Sep 03
Consensus revenue estimates increase by 17% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from JP¥42.9b to JP¥50.1b. EPS estimate increased from JP¥72.33 to JP¥75.72 per share. Net income forecast to shrink 31% next year vs 4.2% growth forecast for Entertainment industry in Japan . Consensus price target up from JP¥2,200 to JP¥2,500. Share price rose 3.7% to JP¥1,692 over the past week. Reported Earnings • Aug 15
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥110 (up from JP¥5.47 loss in FY 2021). Revenue: JP¥42.0b (up 19% from FY 2021). Net income: JP¥3.51b (up JP¥3.69b from FY 2021). Profit margin: 8.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Over the next year, revenue is forecast to grow 2.3%, compared to a 11% growth forecast for the Entertainment industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Aankondiging • Aug 14
Bushiroad Inc., Annual General Meeting, Sep 27, 2022 Bushiroad Inc., Annual General Meeting, Sep 27, 2022. Aankondiging • May 18
Bushiroad Inc. Provides Earnings Guidance for the Fiscal Year 2022 Bushiroad Inc. provided earnings guidance for the fiscal year 2022. For the year, the company expected to pay net sales of JPY 40,000 million, operating profit of JPY 2,500 million, ordinary profit of JPY 4,100 per share, profit attributable to owners of parent of JPY 2,350 million or JPY 73.47 per share. Price Target Changed • Apr 27
Price target increased to JP¥3,500 Up from JP¥1,750, the current price target is provided by 1 analyst. New target price is 126% above last closing price of JP¥1,550. Stock is up 8.0% over the past year. The company is forecast to post earnings per share of JP¥76.00 next year compared to a net loss per share of JP¥5.47 last year. 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 Daisuke Okeda was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 08
Bushiroad Inc. to Report Q3, 2022 Results on May 13, 2022 Bushiroad Inc. announced that they will report Q3, 2022 results on May 13, 2022 Buying Opportunity • Feb 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be JP¥1,580, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% per annum over the last 3 years. The company became loss making over the last year.