Live nieuws • May 15
USS Reports Record Sales Strong Profit and Major Share Buyback With Positive Outlook USS reported record-high sales and profits for FY2025, driven mainly by firm auto auction activity and robust auction prices.
Management plans higher capital expenditures for FY2026 while still projecting continued growth.
The company completed an approximately ¥18 billion share buyback, repurchasing about 8.3 million shares, and is targeting payout ratios at or above current levels alongside increased dividends and treasury share actions.
The combination of record earnings, active buybacks and a higher payout ratio indicates a clear focus on returning cash to shareholders while continuing to invest in the core auction business.
It is worth monitoring how the planned capital expenditures and ongoing capital return programs affect cash flow and balance sheet flexibility, particularly if auction conditions or transaction volumes change. Aankondiging • May 14
USS Co., Ltd. (TSE:4732) announces an Equity Buyback for 12,000,000 shares, representing 2.58% for ¥18,000 million. USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase up to 12,000,000 shares, representing 2.58% of its issued share capital (excluding treasury stock), for a total purchase price of ¥18,000 million. The purpose of the program is to enhance corporate value by maintaining a Return on Equity (ROE) of no less than 20% and to strengthen shareholder returns through a combination of stable dividends and continuous share repurchases. The program is valid till May 13, 2026. As of March 31, 2026, the company has 464,373,398 issued shares (excluding treasury stock) and 9,626,602 treasury shares. Reported Earnings • May 13
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥88.78 (up from JP¥78.66 in FY 2025). Revenue: JP¥113.9b (up 9.5% from FY 2025). Net income: JP¥41.4b (up 9.9% from FY 2025). Profit margin: 36% (in line with FY 2025). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 1.2%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. Aankondiging • May 12
USS Co., Ltd., Annual General Meeting, Jun 23, 2026 USS Co., Ltd., Annual General Meeting, Jun 23, 2026. Aankondiging • May 10
USS Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 USS Co., Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥26.60 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥22.59 (vs JP¥19.79 in 3Q 2025) Third quarter 2026 results: EPS: JP¥22.59 (up from JP¥19.79 in 3Q 2025). Revenue: JP¥29.0b (up 11% from 3Q 2025). Net income: JP¥10.5b (up 11% from 3Q 2025). Profit margin: 36% (in line with 3Q 2025). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 13
First half dividend of JP¥26.20 announced Shareholders will receive a dividend of JP¥26.20. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Nov 29
USS Co., Ltd. to Report Q3, 2026 Results on Feb 10, 2026 USS Co., Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: JP¥20.94 (vs JP¥18.50 in 2Q 2025) Second quarter 2026 results: EPS: JP¥20.94 (up from JP¥18.50 in 2Q 2025). Revenue: JP¥26.6b (up 7.1% from 2Q 2025). Net income: JP¥9.72b (up 9.3% from 2Q 2025). Profit margin: 37% (in line with 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.20 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Aankondiging • Sep 01
USS Co., Ltd. to Report Q2, 2026 Results on Nov 11, 2025 USS Co., Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 06
First quarter 2026 earnings released: EPS: JP¥22.10 (vs JP¥19.26 in 1Q 2025) First quarter 2026 results: EPS: JP¥22.10 (up from JP¥19.26 in 1Q 2025). Revenue: JP¥27.4b (up 6.8% from 1Q 2025). Net income: JP¥10.2b (up 11% from 1Q 2025). Profit margin: 37% (up from 36% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Declared Dividend • Jul 09
Final dividend of JP¥24.30 announced Shareholders will receive a dividend of JP¥24.30. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 27
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥78.66 (up from JP¥68.28 in FY 2024). Revenue: JP¥104.0b (up 6.6% from FY 2024). Net income: JP¥37.6b (up 14% from FY 2024). Profit margin: 36% (up from 34% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. 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 10% per year. Aankondiging • Jun 24
USS Co., Ltd. (TSE:4732) announces an Equity Buyback for 11,000,000 shares, representing 2.32% for ¥16,000 million. USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 2.32% of its issued share capital (excluding treasury stock), for a total purchase price of ¥16,000 million. The purpose of the program is to enhance corporate value by maintaining a Return on Equity (ROE) of no less than 20% and to strengthen shareholder returns through a combination of stable dividends and continuous share repurchases. The program is valid till June 25, 2025 . As of March 31, 2025, the company has 473,612,378 issued shares (excluding treasury stock) and 40,387,622 treasury shares. Aankondiging • May 31
USS Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 USS Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥78.66 (up from JP¥68.28 in FY 2024). Revenue: JP¥104.0b (up 6.6% from FY 2024). Net income: JP¥37.6b (up 14% from FY 2024). Profit margin: 36% (up from 34% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. 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 • May 13
USS Co., Ltd., Annual General Meeting, Jun 24, 2025 USS Co., Ltd., Annual General Meeting, Jun 24, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥21.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Aankondiging • Mar 01
USS Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 USS Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 05
Third quarter 2025 earnings released: EPS: JP¥19.79 (vs JP¥17.29 in 3Q 2024) Third quarter 2025 results: EPS: JP¥19.79 (up from JP¥17.29 in 3Q 2024). Revenue: JP¥26.2b (up 12% from 3Q 2024). Net income: JP¥9.47b (up 14% from 3Q 2024). Profit margin: 36% (in line with 3Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 07
First half dividend of JP¥21.00 announced Shareholders will receive a dividend of JP¥21.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 9.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Dec 01
USS Co., Ltd. to Report Q3, 2025 Results on Feb 04, 2025 USS Co., Ltd. announced that they will report Q3, 2025 results on Feb 04, 2025 Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥18.50 (vs JP¥16.78 in 2Q 2024) Second quarter 2025 results: EPS: JP¥18.50 (up from JP¥16.78 in 2Q 2024). Revenue: JP¥24.8b (up 2.7% from 2Q 2024). Net income: JP¥8.89b (up 10% from 2Q 2024). Profit margin: 36% (up from 33% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 07
USS Co., Ltd. (TSE:4732) announces an Equity Buyback for 10,000,000 shares, representing 2.08% for ¥10,000 million. USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 2.08% of its issued share capital (excluding treasury stock), for a total purchase price of ¥10,000 million. The purpose of the program is to improve corporate value, improving capital efficiency and to improve shareholder returns. The program is valid till March 31, 2025 . As of August 31, 2024, the company has 480,979,778 issued shares (excluding treasury stock) and 33,020,222 treasury shares. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.60 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Aankondiging • Aug 27
USS Co., Ltd. to Report Q2, 2025 Results on Nov 05, 2024 USS Co., Ltd. announced that they will report Q2, 2025 results on Nov 05, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥19.26 (vs JP¥16.65 in 1Q 2024) First quarter 2025 results: EPS: JP¥19.26 (up from JP¥16.65 in 1Q 2024). Revenue: JP¥25.6b (up 7.2% from 1Q 2024). Net income: JP¥9.25b (up 14% from 1Q 2024). Profit margin: 36% (up from 34% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to JP¥1,155. The fair value is estimated to be JP¥1,554, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥20.10 announced Shareholders will receive a dividend of JP¥20.10. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 4.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 02
USS Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 USS Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Aankondiging • May 10
USS Co., Ltd., Annual General Meeting, Jun 25, 2024 USS Co., Ltd., Annual General Meeting, Jun 25, 2024. New Risk • May 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.09% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. New Risk • Mar 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 113% Dividend yield: 6.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥38.40 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.3%). Aankondiging • Mar 02
USS Co., Ltd. to Report Fiscal Year 2024 Results on May 08, 2024 USS Co., Ltd. announced that they will report fiscal year 2024 results on May 08, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥34.58 (vs JP¥29.68 in 3Q 2023) Third quarter 2024 results: EPS: JP¥34.58 (up from JP¥29.68 in 3Q 2023). Revenue: JP¥23.4b (up 6.6% from 3Q 2023). Net income: JP¥8.30b (up 14% from 3Q 2023). Profit margin: 35% (up from 33% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥2,885. The fair value is estimated to be JP¥2,391, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings are also forecast to grow by 0.1% per annum over the same time period. Price Target Changed • Dec 30
Price target increased by 7.1% to JP¥2,710 Up from JP¥2,530, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥2,836. Stock is up 35% over the past year. The company is forecast to post earnings per share of JP¥136 for next year compared to JP¥123 last year. Aankondiging • Nov 27
USS Co., Ltd. to Report Q3, 2024 Results on Feb 06, 2024 USS Co., Ltd. announced that they will report Q3, 2024 results on Feb 06, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: JP¥33.57 (vs JP¥29.35 in 2Q 2023) Second quarter 2024 results: EPS: JP¥33.57 (up from JP¥29.35 in 2Q 2023). Revenue: JP¥24.2b (up 14% from 2Q 2023). Net income: JP¥8.06b (up 12% from 2Q 2023). Profit margin: 33% (in line with 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. 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 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥34.70 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Aankondiging • Aug 27
USS Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023 USS Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥33.29 (vs JP¥30.39 in 1Q 2023) First quarter 2024 results: EPS: JP¥33.29 (up from JP¥30.39 in 1Q 2023). Revenue: JP¥23.9b (up 13% from 1Q 2023). Net income: JP¥8.10b (up 8.9% from 1Q 2023). Profit margin: 34% (down from 35% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 22
USS Co., Ltd. (TSE:4732) announces an Equity Buyback for 5,000,000 shares, for ¥12,500 million. USS Co., Ltd. (TSE:4732) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 2.04% of its issued share capital (excluding treasury stock), for a total purchase price of ¥12,500 million. The purpose of the program is to improve corporate value, business expansion through investment and capital policies and to improve shareholder returns. As of March 31, 2023, the company has 244,627,014 issued shares (excluding treasury stock) and 12,372,986 treasury shares. Reported Earnings • Jun 22
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥123 (up from JP¥120 in FY 2022). Revenue: JP¥88.8b (up 9.0% from FY 2022). Net income: JP¥30.0b (flat on FY 2022). Profit margin: 34% (down from 37% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 19
USS Co., Ltd. to Report Q1, 2024 Results on Aug 08, 2023 USS Co., Ltd. announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥123 (up from JP¥120 in FY 2022). Revenue: JP¥88.8b (up 9.0% from FY 2022). Net income: JP¥30.0b (flat on FY 2022). Profit margin: 34% (down from 37% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 5.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.80 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥29.68 (vs JP¥32.18 in 3Q 2022) Third quarter 2023 results: EPS: JP¥29.68 (down from JP¥32.18 in 3Q 2022). Revenue: JP¥22.0b (up 11% from 3Q 2022). Net income: JP¥7.26b (down 9.2% from 3Q 2022). Profit margin: 33% (down from 40% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 01
USS Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 USS Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Board Change • Nov 16
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. President, Representative Director & COO Dai Seta is the most experienced director on the board, commencing their role in 2004. 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 • Nov 10
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: JP¥29.35 (up from JP¥27.57 in 2Q 2022). Revenue: JP¥21.3b (up 9.7% from 2Q 2022). Net income: JP¥7.18b (up 4.4% from 2Q 2022). Profit margin: 34% (down from 35% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥33.70 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 03
First quarter 2023 earnings released: EPS: JP¥30.39 (vs JP¥29.47 in 1Q 2022) First quarter 2023 results: EPS: JP¥30.39 (up from JP¥29.47 in 1Q 2022). Revenue: JP¥21.1b (up 3.8% from 1Q 2022). Net income: JP¥7.44b (up 1.2% from 1Q 2022). Profit margin: 35% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 3.0%, compared to a 7.9% growth forecast for the industry in Japan. 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 8% per year, which means it is well ahead of earnings. 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. President, Representative Director & COO Dai Seta is the most experienced director on the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jul 18
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. President, Representative Director & COO Dai Seta is the most experienced director on the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Jun 30
Price target increased to JP¥2,302 Up from JP¥2,128, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥2,349. Stock is up 21% over the past year. The company is forecast to post earnings per share of JP¥124 for next year compared to JP¥120 last year. Reported Earnings • Jun 26
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: JP¥81.5b (up 8.8% from FY 2021). Net income: JP¥29.7b (up JP¥25.7b from FY 2021). Profit margin: 37% (up from 5.4% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 3.7%, compared to a 7.5% growth forecast for the retail industry in Japan. Price Target Changed • May 15
Price target increased to JP¥2,228 Up from JP¥2,003, the current price target is an average from 4 analysts. New target price is 11% below last closing price of JP¥2,513. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥117 for next year compared to JP¥120 last year. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥120 (up from JP¥16.13 in FY 2021). Revenue: JP¥81.5b (up 8.8% from FY 2021). Net income: JP¥29.7b (up JP¥25.7b from FY 2021). Profit margin: 37% (up from 5.4% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.0%. Over the next year, revenue is forecast to stay flat compared to a 7.4% growth forecast for the retail industry in Japan. 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 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥29.20 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 16 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 08
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: JP¥32.18 (up from JP¥27.16 in 3Q 2021). Revenue: JP¥19.8b (flat on 3Q 2021). Net income: JP¥8.00b (up 18% from 3Q 2021). Profit margin: 40% (up from 34% in 3Q 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 80%. Over the next year, revenue is forecast to grow 1.4%, compared to a 7.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 41% 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.