Buy Or Sell Opportunity • Jun 15
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥2,736. The fair value is estimated to be JP¥2,253, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are also forecast to grow by 5.2% per annum over the same time period. Announcement • Jun 13
EXEO Group, Inc. to Report Q1, 2027 Results on Aug 07, 2026 EXEO Group, Inc. announced that they will report Q1, 2027 results on Aug 07, 2026 Announcement • May 29
Oasis Proposes Independent Outside Director Candidate for Exeo AGM to Accelerate Growth and Improve Corporate Governance On May 28, 2026, Oasis Management Company Ltd. announced that it submitted a formal shareholder proposal to appoint Tomoshiro Takemoto as an outside director at Exeo Group, Inc.'s upcoming AGM, citing governance concerns and lack of relevant expertise on the board. Oasis urges shareholders to vote FOR the proposal to accelerate growth and improve corporate governance. Buy Or Sell Opportunity • May 25
Now 23% overvalued Over the last 90 days, the stock has fallen 4.4% to JP¥2,762. The fair value is estimated to be JP¥2,239, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 5.3% per annum over the same time period. Live News • May 19
EXEO Group Moves Data Center Operations Forward With BE Networks AI-Driven Platform EXEO Group has completed a six-month Proof of Concept with BE Networks and placed a production order for the Verity orchestration and lifecycle management platform.
Verity will be used to run EXEO’s next-generation data centers and AI network infrastructure, covering automated fabric design, Zero Touch Provisioning, overlay configuration management, and fabric monitoring.
The rollout includes BE Networks’ SensAI platform for live AI-driven network operations, marking its first deployment in Japan.
This move points to EXEO leaning further into software-driven and AI-supported network operations, which could influence how efficiently it runs and scales its data center and AI infrastructure projects.
Investors may want to watch how quickly EXEO rolls out this platform across its operations and whether it leads to new service offerings or partnerships tied to AI and data center build-outs. Reported Earnings • May 14
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥151 (up from JP¥129 in FY 2025). Revenue: JP¥787.7b (up 17% from FY 2025). Net income: JP¥31.0b (up 16% from FY 2025). Profit margin: 3.9% (down from 4.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Construction 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 increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
EXEO Group, Inc., Annual General Meeting, Jun 25, 2026 EXEO Group, Inc., Annual General Meeting, Jun 25, 2026. Buy Or Sell Opportunity • Apr 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to JP¥2,840. The fair value is estimated to be JP¥2,357, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to JP¥2,849. The fair value is estimated to be JP¥2,372, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Announcement • Apr 01
EXEO Group, Inc. to Report Fiscal Year 2026 Results on May 13, 2026 EXEO Group, Inc. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Buy Or Sell Opportunity • Feb 12
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to JP¥2,808. The fair value is estimated to be JP¥2,310, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 0.3% per annum. Earnings are also forecast to grow by 1.7% per annum over the same time period. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥45.25 (vs JP¥24.92 in 3Q 2025) Third quarter 2026 results: EPS: JP¥45.25 (up from JP¥24.92 in 3Q 2025). Revenue: JP¥199.7b (up 20% from 3Q 2025). Net income: JP¥9.28b (up 79% from 3Q 2025). Profit margin: 4.6% (up from 3.1% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 06
EXEO Group, Inc. (TSE:1951) announces an Equity Buyback for 2,000,000 shares, representing 0.98% for ¥4,000 million. EXEO Group, Inc. (TSE:1951) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 0.98% of its share capital (excluding treasury shares), for ¥4,000 million. The purpose of the program is to enhance shareholders’ return by facilitating flexible implementation of capital policy and enhancing capital efficiency. The program will run until June 30, 2026. As of January 31, 2026, the company had 204,587,611 shares outstanding (excluding treasury shares) and 4,037,227 shares in treasury. Buy Or Sell Opportunity • Jan 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to JP¥2,763. The fair value is estimated to be JP¥2,299, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 9.4%. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings are also forecast to grow by 4.2% per annum over the same time period. Price Target Changed • Dec 22
Price target increased by 12% to JP¥2,560 Up from JP¥2,285, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥2,480. Stock is up 45% over the past year. The company is forecast to post earnings per share of JP¥159 for next year compared to JP¥129 last year. Announcement • Dec 13
EXEO Group, Inc. to Report Q3, 2026 Results on Feb 06, 2026 EXEO Group, Inc. announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Nov 29
First half dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.7%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 15% 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 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥31.97 (vs JP¥15.78 in 2Q 2025) Second quarter 2026 results: EPS: JP¥31.97 (up from JP¥15.78 in 2Q 2025). Revenue: JP¥182.7b (up 23% from 2Q 2025). Net income: JP¥6.57b (up 100% from 2Q 2025). Profit margin: 3.6% (up from 2.2% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 14
EXEO Group, Inc. to Report Q2, 2026 Results on Nov 07, 2025 EXEO Group, Inc. announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥17.81 (vs JP¥14.37 in 1Q 2025) First quarter 2026 results: EPS: JP¥17.81 (up from JP¥14.37 in 1Q 2025). Revenue: JP¥138.6b (up 11% from 1Q 2025). Net income: JP¥3.67b (up 22% from 1Q 2025). Profit margin: 2.6% (up from 2.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 18
Now 20% undervalued Over the last 90 days, the stock has risen 17% to JP¥1,927. The fair value is estimated to be JP¥2,414, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has declined by 3.0%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Declared Dividend • Jul 09
Final dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (62% 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 15% 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 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥129 (up from JP¥94.76 in FY 2024). Revenue: JP¥670.8b (up 9.2% from FY 2024). Net income: JP¥26.9b (up 34% from FY 2024). Profit margin: 4.0% (up from 3.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Jun 14
EXEO Group, Inc. to Report Q1, 2026 Results on Aug 08, 2025 EXEO Group, Inc. announced that they will report Q1, 2026 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥129 (up from JP¥94.76 in FY 2024). Revenue: JP¥670.8b (up 9.2% from FY 2024). Net income: JP¥26.9b (up 34% from FY 2024). Profit margin: 4.0% (up from 3.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • May 10
EXEO Group, Inc. (TSE:1951) announces an Equity Buyback for 2,400,000 shares, representing 1.16% for ¥3,000 million. EXEO Group, Inc. (TSE:1951) announces a share repurchase program. Under the program, the company will repurchase 2,400,000 shares, representing 1.16% of its share capital (excluding treasury shares), for ¥3,000 million. The purpose of the program is to enhance shareholders’ return by facilitating flexible implementation of capital policy and enhancing capital efficiency. The program will run until March 31, 2026. As of April 30, 2025, the company had 206,281,438 shares outstanding (excluding treasury shares) and 2,343,400 shares in treasury. Announcement • May 09
EXEO Group, Inc., Annual General Meeting, Jun 25, 2025 EXEO Group, Inc., Annual General Meeting, Jun 25, 2025. Announcement • Apr 30
EXEO Group, Inc. (TSE:1951) agreed to acquire remaining 13.41% stake in Procurri Corporation Limited (SGX:BVQ) EXEO Group, Inc. (TSE:1951) agreed to acquire remaining 13.41% stake in Procurri Corporation Limited (SGX:BVQ) on April 28, 2025. A cash consideration valued at SGD 0.32 per share will be paid by EXEO Group, Inc. Upon completion, EXEO Group, Inc. will own 100% stake in Procurri Corporation Limited.
ZICO Capital Pte. Ltd. acted as financial advisor for EXEO Group, Inc. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.3%). Announcement • Mar 15
EXEO Group, Inc. to Report Fiscal Year 2025 Results on May 09, 2025 EXEO Group, Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Announcement • Feb 10
EXEO Group, Inc. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2025 EXEO Group, Inc. provided consolidated earnings guidance for the full year ending March 31, 2025. For the year, the company expects net sales to be JPY 660,000 million, operating profit to be JPY 40,000 million, profit attributable to owners of parent to be JPY 25,600 million and earnings per share to be JPY 122.94. Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥24.92 (up from JP¥17.30 in 3Q 2024). Revenue: JP¥165.8b (up 20% from 3Q 2024). Net income: JP¥5.18b (up 42% from 3Q 2024). Profit margin: 3.1% (up from 2.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Feb 07
EXEO Group, Inc. (TSE:1951) announces an Equity Buyback for 2,400,000 shares, representing 1.16% for ¥3,000 million. EXEO Group, Inc. (TSE:1951) announces a share repurchase program. Under the program, the company will repurchase 2,400,000 shares, representing 1.16% of its share capital (excluding treasury shares), for ¥3,000 million. The purpose of the program is to enhance shareholders’ return by facilitating flexible implementation of capital policy and enhancing capital efficiency. The program will run until June 30, 2025. As of January 31, 2025, the company had 207,143,086 shares outstanding (excluding treasury shares) and 1,481,752 shares in treasury. Announcement • Dec 14
EXEO Group, Inc. to Report Q3, 2025 Results on Feb 07, 2025 EXEO Group, Inc. announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Nov 30
First half dividend of JP¥31.00 announced Shareholders will receive a dividend of JP¥31.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (103% cash payout ratio). The dividend has increased by an average of 18% 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 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 27
Price target increased by 7.2% to JP¥1,746 Up from JP¥1,629, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of JP¥1,767. Stock is up 13% over the past year. The company is forecast to post earnings per share of JP¥113 for next year compared to JP¥94.76 last year. Reported Earnings • Nov 10
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: JP¥15.78 (down from JP¥22.29 in 2Q 2024). Revenue: JP¥148.1b (up 5.2% from 2Q 2024). Net income: JP¥3.29b (down 30% from 2Q 2024). Profit margin: 2.2% (down from 3.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 28 November 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.3%). Announcement • Sep 14
EXEO Group, Inc. to Report Q2, 2025 Results on Nov 08, 2024 EXEO Group, Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: JP¥14.37 (up from JP¥12.27 in 1Q 2024). Revenue: JP¥125.4b (flat on 1Q 2024). Net income: JP¥3.01b (up 15% from 1Q 2024). Profit margin: 2.4% (up from 2.1% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 59%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. 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¥1,381, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Construction industry in Japan. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,509 per share. Buy Or Sell Opportunity • Jul 29
Now 21% overvalued Over the last 90 days, the stock has fallen 5.4% to JP¥1,628. The fair value is estimated to be JP¥1,341, 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 7.1%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 5.7% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥31.00 announced Shareholders will receive a dividend of JP¥31.00. Ex-date: 27th September 2024 Payment date: 28th November 2024 Dividend yield will be 5.6%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 18% 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 decline by 27% over the next 3 years. However, it would need to fall by 42% to increase the payout ratio to a potentially unsustainable range. Buy Or Sell Opportunity • Jul 11
Now 20% overvalued Over the last 90 days, the stock has fallen 2.5% to JP¥1,622. The fair value is estimated to be JP¥1,346, 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 grown by 3.9%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 5.7% per annum over the same time period. Buy Or Sell Opportunity • Jul 02
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥1,611. The fair value is estimated to be JP¥1,334, 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 7.1%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 5.7% per annum over the same time period. Announcement • Jun 17
EXEO Group, Inc. to Report Q1, 2025 Results on Aug 09, 2024 EXEO Group, Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Announcement • May 28
EXEO Group, Inc. Announces Management Changes EXEO Group, Inc. at a meeting of the Board of Directors held on May 24, 2024 announced Changes in officers. Director to retire: Director and Managing Operating Officer, Takafumi Sakaguchi (Scheduled to remain in the position of President and Representative Director, Seibu Electrical Industry Co. Ltd.), effective June 26, 2024. Audit & Supervisory Board Members to retire (Effective June 26, 2024): Yasuo Otsubo (Scheduled to be the Companys special adviser), Shinnosuke Yamada. Operating Officers to retire (Effective June 14, 2024): Kazuhiro Kawazoe, Operating Officer (Scheduled to be Representative Director and Executive President, Nippon Dentsu Co. Ltd.) Operating Officers to retire (Effective June 26, 2024): Yuji Sato, Managing Operating Officer (Scheduled to be the Companys Executive Fellow), Hideki Obara, Managing Operating Officer (Scheduled to be Advisor, Daiwa Densetsu Corp.), Kosei Nakashima, Managing Operating Officer, (Scheduled to be President, S-LINKCOM CORPORATION and the Company's special adviser). Masahiro Kikuchi, Operating Officer (Scheduled to be the Company's special adviser), Mitsuhisa Iwai, Operating Officer (Scheduled to remain in the position of President and Representative Director, WHERE, Inc.), Naruhiko Yamada, Operating Officer, (Scheduled to be the Companys Auditor). Reported Earnings • May 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥190. Revenue: JP¥614.1b (down 2.2% from FY 2023). Net income: JP¥20.1b (down 9.8% from FY 2023). Profit margin: 3.3% (down from 3.5% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 77%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Construction industry in Japan. Announcement • May 12
EXEO Group, Inc., Annual General Meeting, Jun 26, 2024 EXEO Group, Inc., Annual General Meeting, Jun 26, 2024. Announcement • May 11
EXEO Group, Inc. (TSE:1951) announces an Equity Buyback for 2,500,000 shares, representing 1.19% for ¥3,000 million. EXEO Group, Inc. (TSE:1951) announces a share repurchase program. Under the program, the company will repurchase 2,500,000 shares, representing 1.19% of its share capital (excluding treasury shares), for ¥3,000 million. The purpose of the program is to improve shareholder returns by implementing flexible capital policies and improving capital efficiency. The program will run until March 31, 2025. As of April 30, 2024, the company had 209,577,078 shares outstanding (excluding treasury shares) and 4,047,760 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.7%). Announcement • Mar 17
EXEO Group, Inc. to Report Fiscal Year 2024 Results on May 10, 2024 EXEO Group, Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Buy Or Sell Opportunity • Mar 11
Now 22% undervalued Over the last 90 days, the stock has risen 1.8% to JP¥3,197. The fair value is estimated to be JP¥4,073, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.4% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 2.8% per annum over the same time period. Announcement • Feb 14
EXEO Group, Inc. Provides Dividend Guidance for the Year Ending March 31, 2024 EXEO Group, Inc. provided dividend guidance for the year ending March 31, 2024. For the year, the company expects dividend of JPY 60.00 per share against JPY 51.00 per share a year ago. Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥34.59 (down from JP¥38.65 in 3Q 2023). Revenue: JP¥138.2b (down 9.2% from 3Q 2023). Net income: JP¥3.65b (down 13% from 3Q 2023). Profit margin: 2.6% (down from 2.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Feb 09
EXEO Group, Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024 EXEO Group, Inc. revised consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period, the company revised net sales of JPY 610,000 million, operating profit of JPY 30,000 million, profit attributable to owners of parent of JPY 23,600 million and earnings per share from JPY 223.87 compared to previous guidance of net sales of JPY 630,000 million, operating profit of JPY 34,000 million, profit attributable to owners of parent of JPY 23,600 million and earnings per share from JPY 223.87 provided earlier. Buy Or Sell Opportunity • Jan 26
Now 21% undervalued Over the last 90 days, the stock has risen 4.5% to JP¥3,191. The fair value is estimated to be JP¥4,026, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 3.7%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 1.4% per annum over the same time period. Buying Opportunity • Jan 16
Now 20% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be JP¥4,022, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 3.7%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings is also forecast to grow by 1.4% per annum over the same time period. Announcement • Dec 17
EXEO Group, Inc. to Report Q3, 2024 Results on Feb 09, 2024 EXEO Group, Inc. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Nov 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% 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 0.3% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥60.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 29 November 2023. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (3.0%). Announcement • Sep 17
EXEO Group, Inc. to Report Q2, 2024 Results on Nov 10, 2023 EXEO Group, Inc. announced that they will report Q2, 2024 results on Nov 10, 2023 Price Target Changed • Sep 07
Price target increased by 7.1% to JP¥2,866 Up from JP¥2,676, the current price target is an average from 5 analysts. New target price is 9.6% below last closing price of JP¥3,169. Stock is up 46% over the past year. The company is forecast to post earnings per share of JP¥225 for next year compared to JP¥205 last year. Price Target Changed • Aug 23
Price target increased by 10.0% to JP¥2,756 Up from JP¥2,506, the current price target is an average from 5 analysts. New target price is 8.8% below last closing price of JP¥3,021. Stock is up 40% over the past year. The company is forecast to post earnings per share of JP¥223 for next year compared to JP¥205 last year. Announcement • Aug 17
EXEO Group, Inc. Provides Dividend Guidance for the Second Quarter and Full Year of Fiscal Year Ending March 31, 2024 EXEO Group, Inc. provided dividend guidance for the second quarter and full year of fiscal year ending March 31, 2024. For the quarter, the company expects to pay dividend of JPY 60 per share. For the year, the company expects to pay dividend of JPY 60 per share. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥24.54 (vs JP¥26.56 in 1Q 2023) First quarter 2024 results: EPS: JP¥24.54 (down from JP¥26.56 in 1Q 2023). Revenue: JP¥124.4b (up 2.9% from 1Q 2023). Net income: JP¥2.62b (down 10% from 1Q 2023). Profit margin: 2.1% (down from 2.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. Announcement • Aug 12
EXEO Group, Inc. Provides Consolidated and Non-Consolidated Earnings Guidance for the Fiscal Year 2023 EXEO Group, Inc. provided consolidated and non-consolidated earnings guidance for the fiscal year 2023. For the year, on consolidated basis, the company expects net sales of JPY 630.0 billion, operating profit of JPY 34.0 billion and profit attributable to owners of parent of JPY 23.6 billion. For the year, on non-consolidated basis, the company expects net sales of JPY 280.0 billion, operating profit of JPY 10.1 billion and profit of JPY 20.3 billion. Announcement • Jun 17
EXEO Group, Inc. to Report Q1, 2024 Results on Aug 10, 2023 EXEO Group, Inc. announced that they will report Q1, 2024 results on Aug 10, 2023