Reported Earnings • Aug 04
First quarter 2027 earnings released: EPS: JP¥9.76 (vs JP¥7.68 in 1Q 2026) First quarter 2027 results: EPS: JP¥9.76 (up from JP¥7.68 in 1Q 2026). Revenue: JP¥52.2b (up 2.7% from 1Q 2026). Net income: JP¥939.0m (up 27% from 1Q 2026). Profit margin: 1.8% (up from 1.5% in 1Q 2026). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 26
Final dividend of JP¥19.50 announced Shareholders will receive a dividend of JP¥19.50. Ex-date: 29th September 2026 Payment date: 2nd December 2026 Dividend yield will be 354%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (32% 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 increased by an average of 12% 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. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • Jul 07
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 German stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 4.6% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Jun 26
Belluna Co., Ltd. to Report Q1, 2027 Results on Jul 31, 2026 Belluna Co., Ltd. announced that they will report Q1, 2027 results on Jul 31, 2026 Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Outside Director Junko Hamamoto 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. Insufficient board refreshment. Announcement • May 13
Belluna Co., Ltd., Annual General Meeting, Jun 25, 2026 Belluna Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
Belluna Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Belluna Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Announcement • Nov 29
Belluna Co., Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Belluna Co., Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Announcement • Sep 02
Belluna Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Belluna Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Announcement • Jun 06
Belluna Co., Ltd. Provides Earnings Guidance for the Fiscal Years Ending March 2027 and March 2028 Belluna Co., Ltd. provided earnings guidance for the fiscal years ending March 2027 and March 2028. For the fiscal year ending March 2027, the company expects total net sales of JPY 229.60 billion and operating profit of JPY 15.00 billion.
For the fiscal year ending March 2028, the company expects total net sales of JPY 253.10 billion and operating profit of JPY 16.50 billion. Announcement • Jun 04
Belluna Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Belluna Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Announcement • May 13
Belluna Co., Ltd., Annual General Meeting, Jun 26, 2025 Belluna Co., Ltd., Annual General Meeting, Jun 26, 2025. Announcement • Mar 04
Belluna Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Belluna Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Announcement • Dec 03
Belluna Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Belluna Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥16.28 (vs JP¥19.42 in 2Q 2024) Second quarter 2025 results: EPS: JP¥16.28 (down from JP¥19.42 in 2Q 2024). Revenue: JP¥45.8b (up 3.4% from 2Q 2024). Net income: JP¥1.57b (down 16% from 2Q 2024). Profit margin: 3.4% (down from 4.2% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥14.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.4%). Announcement • Aug 29
Belluna Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Belluna Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Buy Or Sell Opportunity • Aug 06
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to €4.26. The fair value is estimated to be €3.45, 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. Earnings per share has declined by 23%. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥10.28 (vs JP¥14.32 in 1Q 2024) First quarter 2025 results: EPS: JP¥10.28 (down from JP¥14.32 in 1Q 2024). Revenue: JP¥51.4b (flat on 1Q 2024). Net income: JP¥994.0m (down 28% from 1Q 2024). Profit margin: 1.9% (down from 2.7% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Jul 31
Belluna Co., Ltd. (TSE:9997) announces an Equity Buyback for 480,000 shares, representing 0.49% for ¥480 million. Belluna Co., Ltd. (TSE:9997) announces a share repurchase program. Under the program, the company will repurchase 480,000 shares, representing 0.49% of the outstanding shares for ¥480 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and improve capital efficiency. The program will run until September 30, 2024. As of June 30, 2024, the company had 97,244,472 issued shares (excluding treasury stock) and 545,469 shares in treasury. Announcement • Jun 29
Belluna Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Belluna Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥60.39 (vs JP¥76.71 in FY 2023) Full year 2024 results: EPS: JP¥60.39 (down from JP¥76.71 in FY 2023). Revenue: JP¥208.3b (down 1.9% from FY 2023). Net income: JP¥5.84b (down 21% from FY 2023). Profit margin: 2.8% (down from 3.5% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 22% per year. Announcement • May 15
Belluna Co., Ltd., Annual General Meeting, Jun 26, 2024 Belluna Co., Ltd., Annual General Meeting, Jun 26, 2024. Announcement • Apr 21
Belluna Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Belluna Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.25 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (1.3%). New Risk • Mar 20
New major risk - Revenue and earnings growth Earnings have declined by 0.2% 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 Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Earnings have declined by 0.2% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥18.80 (vs JP¥26.20 in 3Q 2023) Third quarter 2024 results: EPS: JP¥18.80 (down from JP¥26.20 in 3Q 2023). Revenue: JP¥60.2b (down 2.4% from 3Q 2023). Net income: JP¥1.82b (down 28% from 3Q 2023). Profit margin: 3.0% (down from 4.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Nov 29
Belluna Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Belluna Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥19.42 (vs JP¥15.17 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.42 (up from JP¥15.17 in 2Q 2023). Revenue: JP¥44.3b (down 2.4% from 2Q 2023). Net income: JP¥1.88b (up 28% from 2Q 2023). Profit margin: 4.2% (up from 3.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Multiline Retail industry in Europe. Announcement • Sep 28
Belluna Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Belluna Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.25 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥14.32 (vs JP¥14.29 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.32 (up from JP¥14.29 in 1Q 2023). Revenue: JP¥51.8b (down 3.0% from 1Q 2023). Net income: JP¥1.39b (flat on 1Q 2023). Profit margin: 2.7% (up from 2.6% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Multiline Retail industry in Europe. Announcement • Jun 30
Belluna Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Belluna Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥76.71 (vs JP¥106 in FY 2022) Full year 2023 results: EPS: JP¥76.71 (down from JP¥106 in FY 2022). Revenue: JP¥212.4b (down 3.5% from FY 2022). Net income: JP¥7.42b (down 27% from FY 2022). Profit margin: 3.5% (down from 4.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Announcement • May 14
Belluna Co., Ltd., Annual General Meeting, Jun 28, 2023 Belluna Co., Ltd., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥26.20 (vs JP¥46.91 in 3Q 2022) Third quarter 2023 results: EPS: JP¥26.20 (down from JP¥46.91 in 3Q 2022). Revenue: JP¥61.7b (down 1.8% from 3Q 2022). Net income: JP¥2.53b (down 44% from 3Q 2022). Profit margin: 4.1% (down from 7.2% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Online Retail industry in Germany. Announcement • Nov 27
Belluna Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Belluna Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥15.17 (vs JP¥16.00 in 2Q 2022) Second quarter 2023 results: EPS: JP¥15.17 (down from JP¥16.00 in 2Q 2022). Revenue: JP¥45.3b (down 3.3% from 2Q 2022). Net income: JP¥1.47b (down 5.2% from 2Q 2022). Profit margin: 3.2% (down from 3.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Online Retail industry in Germany. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Junko Hamamoto was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥15.17 (vs JP¥16.00 in 2Q 2022) Second quarter 2023 results: EPS: JP¥15.17 (down from JP¥16.00 in 2Q 2022). Revenue: JP¥45.3b (down 3.3% from 2Q 2022). Net income: JP¥1.47b (down 5.2% from 2Q 2022). Profit margin: 3.2% (down from 3.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Online Retail industry in Germany. Buying Opportunity • Sep 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be €6.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 5.6% in 2 years. Earnings is forecast to grow by 10% in the next 2 years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (0.5%). Buying Opportunity • Sep 01
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be €6.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 8.0% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Announcement • Aug 28
Belluna Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Belluna Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Announcement • Aug 24
Belluna Co., Ltd. (TSE:9997) acquired Label Co., Ltd., Label Logistics Co., Ltd. and R&M Corporation. Belluna Co., Ltd. (TSE:9997) acquired Label Co., Ltd., Label Logistics Co., Ltd. and R&M Corporation on August 22, 2022.
Belluna Co., Ltd. (TSE:9997) completed the acquisition of Label Co., Ltd., Label Logistics Co., Ltd. and R&M Corporation on August 22, 2022. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥14.29 (vs JP¥17.20 in 1Q 2022) First quarter 2023 results: EPS: JP¥14.29 (down from JP¥17.20 in 1Q 2022). Revenue: JP¥53.4b (down 9.3% from 1Q 2022). Net income: JP¥1.38b (down 17% from 1Q 2022). Profit margin: 2.6% (down from 2.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 4.0%, compared to a 34% growth forecast for the industry in Germany. Buying Opportunity • Jul 16
Now 20% undervalued Over the last 90 days, the stock is up 9.8%. The fair value is estimated to be €7.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings is also forecast to grow by 4.6% per annum over the same time period. Announcement • Jun 30
Belluna Co., Ltd. to Report Q1, 2023 Results on Jul 29, 2022 Belluna Co., Ltd. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥106 (vs JP¥114 in FY 2021) Full year 2022 results: EPS: JP¥106 (down from JP¥114 in FY 2021). Revenue: JP¥220.1b (up 6.6% from FY 2021). Net income: JP¥10.2b (down 7.5% from FY 2021). Profit margin: 4.6% (down from 5.3% in FY 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.5%, compared to a 29% growth forecast for the retail industry in Germany. Announcement • May 15
Belluna Co., Ltd., Annual General Meeting, Jun 28, 2022 Belluna Co., Ltd., Annual General Meeting, Jun 28, 2022. 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. 9 non-independent directors. Director, General Manager of Planning Division & Executive Officer Ryogo Takahashi was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Belluna Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Belluna Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (0.3%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥46.90 (down from JP¥58.93 in 3Q 2021). Revenue: JP¥62.8b (flat on 3Q 2021). Net income: JP¥4.54b (down 20% from 3Q 2021). Profit margin: 7.2% (down from 9.0% in 3Q 2021). Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 2.7%, compared to a 48% growth forecast for the industry in Germany. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS JP¥16.00 (vs JP¥14.80 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: JP¥46.9b (up 10.0% from 2Q 2021). Net income: JP¥1.55b (up 8.1% from 2Q 2021). Profit margin: 3.3% (down from 3.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥9.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (0.3%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥17.20 (vs JP¥15.44 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: JP¥58.9b (up 21% from 1Q 2021). Net income: JP¥1.66b (up 12% from 1Q 2021). Profit margin: 2.8% (down from 3.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Board Change • Jul 29
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. 9 non-independent directors. Director, General Manager of Planning Division & Executive Officer Ryogo Takahashi was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥114 (vs JP¥60.62 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥206.5b (up 15% from FY 2020). Net income: JP¥11.0b (up 88% from FY 2020). Profit margin: 5.3% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥9.45, the stock is trading at a trailing P/E ratio of 12.4x, up from the previous P/E ratio of 10.7x. This compares to an average P/E of 83x in the Online Retail industry in Germany. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥58.93 (vs JP¥30.17 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥63.0b (up 23% from 3Q 2020). Net income: JP¥5.70b (up 95% from 3Q 2020). Profit margin: 9.0% (up from 5.7% in 3Q 2020). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations Revenue exceeded analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 5.7%, compared to a 54% growth forecast for the Online Retail industry in Germany. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥8.70, the stock is trading at a trailing P/E ratio of 15.4x, up from the previous P/E ratio of 13.1x. This compares to an average P/E of 65x in the Online Retail industry in Germany. Announcement • Dec 30
Belluna Co., Ltd. to Report Q3, 2021 Results on Jan 29, 2021 Belluna Co., Ltd. announced that they will report Q3, 2021 results on Jan 29, 2021