Declared Dividend • Jun 12
Final dividend of JP¥27.00 announced Dividend of JP¥27.00 is the same as last year. Ex-date: 28th August 2026 Payment date: 5th November 2026 Dividend yield will be 5.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 771% to bring the payout ratio under control. EPS is expected to grow by 178% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Major Estimate Revision • Jun 09
Consensus EPS estimates increase by 42% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate increased from JP¥20.60 to JP¥29.20. Revenue forecast steady at JP¥81.5b. Net income forecast to grow 322% next year vs 14% growth forecast for Specialty Retail industry in Japan. Consensus price target of JP¥1,000 unchanged from last update. Share price rose 2.4% to JP¥962 over the past week. Aankondiging • May 27
Chiyoda Co., Ltd. to Report Q1, 2027 Results on Jul 10, 2026 Chiyoda Co., Ltd. announced that they will report Q1, 2027 results on Jul 10, 2026 Major Estimate Revision • May 16
Consensus EPS estimates fall by 53% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥82.3b to JP¥80.8b. EPS estimate also fell from JP¥43.82 per share to JP¥20.60 per share. Net income forecast to grow 195% next year vs 12% growth forecast for Specialty Retail industry in Japan. Consensus price target of JP¥1,000 unchanged from last update. Share price was steady at JP¥939 over the past week. New Risk • Apr 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Apr 11
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥6.89 (down from JP¥83.08 in FY 2025). Revenue: JP¥81.4b (down 11% from FY 2025). Net income: JP¥237.0m (down 92% from FY 2025). Profit margin: 0.3% (down from 3.2% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 81%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 11
Chiyoda Co., Ltd., Annual General Meeting, May 21, 2026 Chiyoda Co., Ltd., Annual General Meeting, May 21, 2026. Aankondiging • Apr 03
Chiyoda Co., Ltd. to Report Fiscal Year 2026 Results on Apr 10, 2026 Chiyoda Co., Ltd. announced that they will report fiscal year 2026 results on Apr 10, 2026 Aankondiging • Mar 15
Chiyoda Co., Ltd. Announces Board Changes, Effective May 2026 Chiyoda Co., Ltd. announced Directors scheduled to Retire. Director Kunio Ozeki General Manager Sales Division, Director Kunihiro Adachi General Manager Marketing Division, Shintaro Horinouchi Outside Director. They are Scheduled to retire as Director at the Annual General Meeting of Shareholders to be held in May 2026. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 25 May 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.4%). New Risk • Feb 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.0% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Jan 10
Third quarter 2026 earnings released: EPS: JP¥20.72 (vs JP¥18.61 in 3Q 2025) Third quarter 2026 results: EPS: JP¥20.72 (up from JP¥18.61 in 3Q 2025). Revenue: JP¥20.3b (down 15% from 3Q 2025). Net income: JP¥704.0m (up 7.5% from 3Q 2025). Profit margin: 3.5% (up from 2.8% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 07
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥60.35 to JP¥46.20. Revenue forecast unchanged from JP¥81.5b at last update. Net income forecast to shrink 19% next year vs 15% growth forecast for Specialty Retail industry in Japan . Consensus price target down from JP¥1,100 to JP¥950. Share price was steady at JP¥982 over the past week. Declared Dividend • Nov 06
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 26th February 2026 Payment date: 25th May 2026 Dividend yield will be 5.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 2.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Oct 20
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to JP¥999. The fair value is estimated to be JP¥825, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 2.2% in 2 years. Earnings are forecast to decline by 2.5% in the next 2 years. New Risk • Oct 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 11
Second quarter 2026 earnings released: JP¥11.16 loss per share (vs JP¥7.22 profit in 2Q 2025) Second quarter 2026 results: JP¥11.16 loss per share (down from JP¥7.22 profit in 2Q 2025). Revenue: JP¥19.9b (down 14% from 2Q 2025). Net loss: JP¥385.0m (down 252% from profit in 2Q 2025). Revenue is forecast to stay flat 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 103% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 05 November 2025. Payout ratio is a comfortable 41% and the cash payout ratio is 93%. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Reported Earnings • Jul 14
First quarter 2026 earnings released: EPS: JP¥37.15 (vs JP¥37.94 in 1Q 2025) First quarter 2026 results: EPS: JP¥37.15 (down from JP¥37.94 in 1Q 2025). Revenue: JP¥22.0b (down 14% from 1Q 2025). Net income: JP¥1.31b (down 2.1% from 1Q 2025). Profit margin: 5.9% (up from 5.2% in 1Q 2025). Revenue is forecast to stay flat 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 110% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Jul 09
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 6.0% 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 2.1% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (93% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Declared Dividend • Jun 18
Final dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 28th August 2025 Payment date: 5th November 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 6.2% over the next 3 years. However, it would need to fall by 55% to increase the payout ratio to a potentially unsustainable range. Price Target Changed • Jun 17
Price target decreased by 12% to JP¥1,100 Down from JP¥1,250, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥1,120. Stock is up 24% over the past year. The company is forecast to post earnings per share of JP¥64.63 for next year compared to JP¥83.08 last year. Aankondiging • Jun 13
Chiyoda Co., Ltd. to Report Q1, 2026 Results on Jul 11, 2025 Chiyoda Co., Ltd. announced that they will report Q1, 2026 results on Jul 11, 2025 Major Estimate Revision • May 23
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥78.10 to JP¥67.48 per share. Revenue forecast steady at JP¥83.6b. Net income forecast to shrink 19% next year vs 11% growth forecast for Specialty Retail industry in Japan . Consensus price target broadly unchanged at JP¥1,250. Share price was steady at JP¥1,206 over the past week. New Risk • May 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (93% cash payout ratio). Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Major Estimate Revision • May 14
Consensus EPS estimates increase by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥82.3b to JP¥84.1b. EPS estimate increased from JP¥63.24 to JP¥78.10 per share. Net income forecast to shrink 5.9% next year vs 11% growth forecast for Specialty Retail industry in Japan . Consensus price target of JP¥1,270 unchanged from last update. Share price was steady at JP¥1,226 over the past week. Aankondiging • Apr 24
Chiyoda Co., Ltd. (TSE:8185) announces an Equity Buyback for 1,900,000 shares, representing 5.4% for ¥1,500 million. Chiyoda Co., Ltd. (TSE:8185) announces a share repurchase program. Under the program, the company will repurchase 1,900,000 shares, representing 5.4% of the outstanding shares for ¥1,500 million. The shares will be repurchased at a price of 789 per share. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, to enhance capital efficiency and to improve shareholder profits. The repurchased shares will be cancelled. The program will run until September 30, 2025. As of April 18, 2025, the company had 35,190,851 shares outstanding and 419,145 shares in treasury. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥1,264, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 101% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥909 per share. Reported Earnings • Apr 12
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥83.08 (up from JP¥52.67 in FY 2024). Revenue: JP¥91.8b (down 1.6% from FY 2024). Net income: JP¥2.92b (up 58% from FY 2024). Profit margin: 3.2% (up from 2.0% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 72%. Revenue is expected to decline by 4.5% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 11
Chiyoda Co., Ltd., Annual General Meeting, May 22, 2025 Chiyoda Co., Ltd., Annual General Meeting, May 22, 2025. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 24 May 2025. Payout ratio is a comfortable 23% 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 • Feb 11
Chiyoda Co., Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2025 Chiyoda Co., Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2025 Major Estimate Revision • Jan 17
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥46.89 to JP¥52.59. Revenue forecast steady at JP¥92.3b. Net income forecast to grow 5.2% next year vs 14% growth forecast for Specialty Retail industry in Japan. Consensus price target of JP¥1,340 unchanged from last update. Share price fell 2.6% to JP¥1,270 over the past week. Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥18.61 (vs JP¥32.14 in 3Q 2024) Third quarter 2025 results: EPS: JP¥18.61 (down from JP¥32.14 in 3Q 2024). Revenue: JP¥23.8b (up 3.6% from 3Q 2024). Net income: JP¥655.0m (down 42% from 3Q 2024). Profit margin: 2.8% (down from 4.9% in 3Q 2024). Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.8%. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Dec 19
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥39.78 to JP¥46.89. Revenue forecast steady at JP¥92.1b. Net income forecast to shrink 23% next year vs 8.8% growth forecast for Specialty Retail industry in Japan . Consensus price target up from JP¥880 to JP¥1,340. Share price was steady at JP¥1,385 over the past week. Price Target Changed • Dec 18
Price target increased by 54% to JP¥1,340 Up from JP¥870, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥1,355. Stock is up 61% over the past year. The company is forecast to post earnings per share of JP¥46.89 for next year compared to JP¥52.67 last year. New Risk • Nov 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). Aankondiging • Nov 14
G Future No.1 Fund L.P. managed by Trust Up Co., Ltd., Investment Arm completed the acquisition of acquire 65% stake in Mac House Co.,Ltd. (TSE:7603) from Chiyoda Co., Ltd. (TSE:8185) and others. G Future No.1 Fund L.P. managed by Trust Up Co., Ltd., Investment Arm made an offer acquire 65% stake in Mac House Co.,Ltd. (TSE:7603) from Chiyoda Co., Ltd. (TSE:8185) and others for approximately ¥320 million on October 11, 2024. The offeror has made a bid to acquire the shares at a price of ¥32 per share. The offeror plans to cover the funds required for the Tender Offer with its own funds and an investment from gf.P Inc. The transaction is subject to minimum tender. The deal has been unanimously approved by the board of Mac House. The expected completion of the transaction is November 12, 2024. Tokai Tokyo Securities Co., Ltd. is acting as the tender offer agent in the deal.
G Future No.1 Fund L.P. managed by Trust Up Co., Ltd., Investment Arm completed the acquisition of acquire 65% stake in Mac House Co.,Ltd. (TSE:7603) from Chiyoda Co., Ltd. (TSE:8185) and others on November 12, 2024. Declared Dividend • Nov 06
First half dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th February 2025 Payment date: 24th May 2025 Dividend yield will be 2.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Oct 26
Chiyoda Co., Ltd. to Report Q3, 2025 Results on Jan 10, 2025 Chiyoda Co., Ltd. announced that they will report Q3, 2025 results on Jan 10, 2025 Reported Earnings • Oct 18
Second quarter 2025 earnings released: EPS: JP¥7.22 (vs JP¥11.92 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥7.22 (up from JP¥11.92 loss in 2Q 2024). Revenue: JP¥23.2b (up 2.5% from 2Q 2024). Net income: JP¥254.0m (up JP¥673.0m from 2Q 2024). Profit margin: 1.1% (up from net loss in 2Q 2024). Revenue is forecast to stay flat 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 99% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,204, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,356 per share. Aankondiging • Oct 11
G Future No.1 Fund L.P. managed by Trust Up Co., Ltd., Investment Arm made an offer acquire 65% stake in Mac House Co.,Ltd. (TSE:7603) from Chiyoda Co., Ltd. (TSE:8185) and others for approximately ¥320 million. G Future No.1 Fund L.P. managed by Trust Up Co., Ltd., Investment Arm made an offer acquire 65% stake in Mac House Co.,Ltd. (TSE:7603) from Chiyoda Co., Ltd. (TSE:8185) and others for approximately ¥320 million on October 11, 2024. The offeror has made a bid to acquire the shares at a price of ¥32 per share. The offeror plans to cover the funds required for the Tender Offer with its own funds and an investment from gf.P Inc. The transaction is subject to minimum tender. The deal has been unanimously approved by the board of Mac House. The expected completion of the transaction is November 12, 2024. Tokai Tokyo Securities Co., Ltd. is acting as the tender offer agent in the deal. Aankondiging • Sep 18
Chiyoda Co., Ltd. to Report Q2, 2025 Results on Oct 11, 2024 Chiyoda Co., Ltd. announced that they will report Q2, 2025 results on Oct 11, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 07 November 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Price Target Changed • Aug 08
Price target increased by 7.3% to JP¥880 Up from JP¥820, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥865. Stock is down 13% over the past year. The company is forecast to post earnings per share of JP¥39.82 for next year compared to JP¥52.67 last year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥804, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 5.7% over the past three years. Reported Earnings • Jul 16
First quarter 2025 earnings released: EPS: JP¥37.94 (vs JP¥35.60 in 1Q 2024) First quarter 2025 results: EPS: JP¥37.94 (up from JP¥35.60 in 1Q 2024). Revenue: JP¥25.7b (flat on 1Q 2024). Net income: JP¥1.33b (up 6.8% from 1Q 2024). Profit margin: 5.2% (up from 4.9% in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 7.1% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 16
Now 21% undervalued Over the last 90 days, the stock has risen 9.3% to JP¥951. The fair value is estimated to be JP¥1,207, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 0.6% in 2 years. Earnings are forecast to decline by 32% in the next 2 years. Declared Dividend • Jun 06
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 29th August 2024 Payment date: 7th November 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (142% earnings payout ratio). However, it is covered by cash flows (51% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 57% to bring the payout ratio under control. However, EPS is expected to decline by 25% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Aankondiging • Apr 29
Chiyoda Co., Ltd. to Report Q1, 2025 Results on Jul 12, 2024 Chiyoda Co., Ltd. announced that they will report Q1, 2025 results on Jul 12, 2024 Reported Earnings • Apr 14
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥52.67 (up from JP¥74.21 loss in FY 2023). Revenue: JP¥93.3b (up 1.3% from FY 2023). Net income: JP¥1.85b (up JP¥4.45b from FY 2023). Profit margin: 2.0% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to decline by 4.7% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.8%. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥32.14 (vs JP¥7.44 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥32.14 (up from JP¥7.44 loss in 3Q 2023). Revenue: JP¥22.9b (up 1.2% from 3Q 2023). Net income: JP¥1.13b (up JP¥1.39b from 3Q 2023). Profit margin: 4.9% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Dec 16
New major risk - Revenue and earnings growth Earnings have declined by 34% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 34% per year over the past 5 years. Aankondiging • Nov 01
Chiyoda Co., Ltd. to Report Q3, 2024 Results on Jan 12, 2024 Chiyoda Co., Ltd. announced that they will report Q3, 2024 results on Jan 12, 2024 Price Target Changed • Nov 01
Price target decreased by 17% to JP¥750 Down from JP¥900, the current price target is provided by 1 analyst. New target price is 10.0% below last closing price of JP¥833. Stock is up 15% over the past year. The company is forecast to post a net loss per share of JP¥8.60 next year compared to a net loss per share of JP¥74.21 last year. Reported Earnings • Oct 15
Second quarter 2024 earnings released: JP¥11.92 loss per share (vs JP¥36.13 loss in 2Q 2023) Second quarter 2024 results: JP¥11.92 loss per share (improved from JP¥36.13 loss in 2Q 2023). Revenue: JP¥22.6b (up 2.7% from 2Q 2023). Net loss: JP¥419.0m (loss narrowed 67% from 2Q 2023). Revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.6%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • Aug 30
Chiyoda Co., Ltd. to Report Q2, 2024 Results on Oct 13, 2023 Chiyoda Co., Ltd. announced that they will report Q2, 2024 results on Oct 13, 2023 Upcoming Dividend • Aug 23
Upcoming dividend of JP¥14.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 07 November 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Price Target Changed • Jul 29
Price target increased by 15% to JP¥900 Up from JP¥780, the current price target is provided by 1 analyst. New target price is 11% below last closing price of JP¥1,010. Stock is up 25% over the past year. The company is forecast to post a net loss per share of JP¥8.60 next year compared to a net loss per share of JP¥74.21 last year. Reported Earnings • Jul 16
First quarter 2024 earnings released: EPS: JP¥35.60 (vs JP¥5.48 in 1Q 2023) First quarter 2024 results: EPS: JP¥35.60 (up from JP¥5.48 in 1Q 2023). Revenue: JP¥25.5b (up 5.0% from 1Q 2023). Net income: JP¥1.25b (up JP¥1.06b from 1Q 2023). Profit margin: 4.9% (up from 0.8% in 1Q 2023). Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.6%. 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. Reported Earnings • May 30
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: JP¥74.21 loss per share (improved from JP¥112 loss in FY 2022). Revenue: JP¥92.1b (up 3.9% from FY 2022). Net loss: JP¥2.60b (loss narrowed 35% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 29
Consensus estimates of losses per share improve by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥90.7b to JP¥92.5b. EPS estimate increased from -JP¥14.30 per share to -JP¥11.40 per share. Specialty Retail industry in Japan expected to see average net income growth of 3.8% next year. Consensus price target up from JP¥750 to JP¥780. Share price was steady at JP¥836 over the past week. Reported Earnings • Apr 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: JP¥74.21 loss per share (improved from JP¥112 loss in FY 2022). Revenue: JP¥92.1b (up 3.9% from FY 2022). Net loss: JP¥2.60b (loss narrowed 35% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥14.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 29 May 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Aankondiging • Feb 01
Chiyoda Co., Ltd. to Report Fiscal Year 2023 Results on Apr 14, 2023 Chiyoda Co., Ltd. announced that they will report fiscal year 2023 results on Apr 14, 2023 Major Estimate Revision • Jan 26
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -JP¥62.80 to -JP¥71.30 per share. Revenue forecast unchanged at JP¥91.4b. Specialty Retail industry in Japan expected to see average net income growth of 3.4% next year. Consensus price target broadly unchanged at JP¥750. Share price was steady at JP¥788 over the past week. Reported Earnings • Jan 14
Third quarter 2023 earnings released: JP¥7.44 loss per share (vs JP¥21.87 profit in 3Q 2022) Third quarter 2023 results: JP¥7.44 loss per share (down from JP¥21.87 profit in 3Q 2022). Revenue: JP¥22.7b (up 3.7% from 3Q 2022). Net loss: JP¥261.0m (down 134% from profit in 3Q 2022). Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 4.8%. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 21% per year. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Norio Sato was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Price Target Changed • Nov 01
Price target decreased to JP¥760 Down from JP¥1,020, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥734. Stock is down 4.1% over the past year. The company is forecast to post a net loss per share of JP¥62.80 next year compared to a net loss per share of JP¥112 last year. Reported Earnings • Oct 13
Second quarter 2023 earnings released: JP¥36.13 loss per share (vs JP¥61.70 loss in 2Q 2022) Second quarter 2023 results: JP¥36.13 loss per share (improved from JP¥61.70 loss in 2Q 2022). Revenue: JP¥22.0b (up 3.4% from 2Q 2022). Net loss: JP¥1.27b (loss narrowed 42% from 2Q 2022). Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Japan are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 02 November 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Aankondiging • Jul 31
Chiyoda Co., Ltd. to Report Q2, 2023 Results on Oct 12, 2022 Chiyoda Co., Ltd. announced that they will report Q2, 2023 results on Oct 12, 2022 Reported Earnings • Jul 15
First quarter 2023 earnings released: EPS: JP¥5.48 (vs JP¥9.65 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥5.48 (up from JP¥9.65 loss in 1Q 2022). Revenue: JP¥24.3b (up 3.9% from 1Q 2022). Net income: JP¥192.0m (up JP¥536.0m from 1Q 2022). Profit margin: 0.8% (up from net loss in 1Q 2022). Over the next year, revenue is forecast to stay flat compared to a 7.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: JP¥112 loss per share (up from JP¥140 loss in FY 2021). Revenue: JP¥88.7b (down 5.9% from FY 2021). Net loss: JP¥3.98b (loss narrowed 20% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 461%. Over the next year, revenue is forecast to grow 1.1%, compared to a 7.5% growth forecast for the retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Aankondiging • May 04
Chiyoda Co., Ltd. to Report Q1, 2023 Results on Jul 13, 2022 Chiyoda Co., Ltd. announced that they will report Q1, 2023 results on Jul 13, 2022 Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Norio Sato was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • Apr 15
Chiyoda Co., Ltd., Annual General Meeting, May 26, 2022 Chiyoda Co., Ltd., Annual General Meeting, May 26, 2022. Reported Earnings • Apr 14
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: JP¥112 loss per share (up from JP¥140 loss in FY 2021). Revenue: JP¥88.7b (down 5.9% from FY 2021). Net loss: JP¥3.98b (loss narrowed 20% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 461%. Over the next year, revenue is expected to shrink by 1.2% compared to a 6.4% growth forecast for the retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Feb 18
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 21 May 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%). Aankondiging • Jan 30
Chiyoda Co., Ltd. to Report Fiscal Year 2022 Results on Apr 13, 2022 Chiyoda Co., Ltd. announced that they will report fiscal year 2022 results on Apr 13, 2022 Major Estimate Revision • Jan 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -JP¥17.10 to -JP¥20.00 per share. Revenue forecast unchanged at JP¥88.5b. Specialty Retail industry in Japan expected to see average net income growth of 4.2% next year. Consensus price target down from JP¥820 to JP¥740. Share price rose 2.4% to JP¥754 over the past week. Reported Earnings • Jan 13
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥21.87 (up from JP¥27.95 loss in 3Q 2021). Revenue: JP¥21.9b (down 9.8% from 3Q 2021). Net income: JP¥778.0m (up JP¥1.77b from 3Q 2021). Profit margin: 3.6% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Over the next year, revenue is expected to shrink by 1.5% compared to a 6.1% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 18
Price target decreased to JP¥820 Down from JP¥1,000, the current price target is provided by 1 analyst. New target price is 6.2% above last closing price of JP¥772. Stock is down 18% over the past year. 
