Declared Dividend • 3h
First half dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 29th October 2026 Payment date: 30th January 2027 Dividend yield will be 2.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 12
Torq Inc. Announces Dividend for Second Quarter End of Fiscal Year Ending October 31, 2026, Payable on July 13, 2026 TORQ Inc. announced dividend for second quarter end of fiscal year ending October 31, 2026. For the quarter end, the company announced dividend of JPY 3.00 per share compared to JPY 3.00 per share. Scheduled date to commence dividend payments is July 13, 2026. Reported Earnings • Jun 12
Second quarter 2026 earnings released: EPS: JP¥10.20 (vs JP¥12.88 in 2Q 2025) Second quarter 2026 results: EPS: JP¥10.20 (down from JP¥12.88 in 2Q 2025). Revenue: JP¥5.52b (down 4.2% from 2Q 2025). Net income: JP¥230.5m (down 21% from 2Q 2025). Profit margin: 4.2% (down from 5.1% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 15 July 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Declared Dividend • Feb 19
Final dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 28th April 2026 Payment date: 15th July 2026 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 16
Full year 2025 earnings released: EPS: JP¥39.86 (vs JP¥36.46 in FY 2024) Full year 2025 results: EPS: JP¥39.86 (up from JP¥36.46 in FY 2024). Revenue: JP¥22.5b (flat on FY 2024). Net income: JP¥904.0m (up 1.0% from FY 2024). Profit margin: 4.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Dec 12
TORQ Inc., Annual General Meeting, Jan 29, 2026 TORQ Inc., Annual General Meeting, Jan 29, 2026. Announcement • Dec 04
TORQ Inc. to Report Fiscal Year 2025 Results on Dec 12, 2025 TORQ Inc. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Dec 12, 2025 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 30 January 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.8%). Reported Earnings • Sep 14
Third quarter 2025 earnings released: EPS: JP¥9.39 (vs JP¥8.93 in 3Q 2024) Third quarter 2025 results: EPS: JP¥9.39. Revenue: JP¥5.81b (up 1.6% from 3Q 2024). Net income: JP¥212.0m (down 4.2% from 3Q 2024). Profit margin: 3.6% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Declared Dividend • Jul 16
First half dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 30th October 2025 Payment date: 30th January 2026 Dividend yield will be 2.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
TORQ Inc. to Report Q3, 2025 Results on Sep 12, 2025 TORQ Inc. announced that they will report Q3, 2025 results on Sep 12, 2025 Reported Earnings • Jun 16
Second quarter 2025 earnings released: EPS: JP¥12.90 (vs JP¥9.37 in 2Q 2024) Second quarter 2025 results: EPS: JP¥12.90 (up from JP¥9.37 in 2Q 2024). Revenue: JP¥5.76b (up 3.6% from 2Q 2024). Net income: JP¥291.7m (up 25% from 2Q 2024). Profit margin: 5.1% (up from 4.2% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 16 July 2025. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (3.7%). Announcement • Apr 03
TORQ Inc. to Report Q2, 2025 Results on Jun 13, 2025 TORQ Inc. announced that they will report Q2, 2025 results on Jun 13, 2025 Reported Earnings • Mar 15
First quarter 2025 earnings released: EPS: JP¥4.96 (vs JP¥3.14 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.96 (up from JP¥3.14 in 1Q 2024). Revenue: JP¥5.60b (up 5.4% from 1Q 2024). Net income: JP¥114.0m (up 46% from 1Q 2024). Profit margin: 2.0% (up from 1.5% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Feb 26
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 5.7% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (JP¥5.73b market cap, or US$38.3m). Declared Dividend • Feb 12
Final dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 28th April 2025 Payment date: 16th July 2025 Dividend yield will be 2.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (16% 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 not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 03
TORQ Inc. to Report Q1, 2025 Results on Mar 14, 2025 TORQ Inc. announced that they will report Q1, 2025 results on Mar 14, 2025 Reported Earnings • Dec 15
Full year 2024 earnings released: EPS: JP¥36.46 (vs JP¥34.04 in FY 2023) Full year 2024 results: EPS: JP¥36.46 (up from JP¥34.04 in FY 2023). Revenue: JP¥22.4b (up 3.0% from FY 2023). Net income: JP¥895.0m (up 5.9% from FY 2023). Profit margin: 4.0% (up from 3.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Dec 13
TORQ Inc., Annual General Meeting, Jan 29, 2025 TORQ Inc., Annual General Meeting, Jan 29, 2025. Buy Or Sell Opportunity • Nov 20
Now 21% undervalued Over the last 90 days, the stock has risen 1.4% to JP¥217. The fair value is estimated to be JP¥274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Oct 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to JP¥214. The fair value is estimated to be JP¥273, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Oct 29
TORQ Inc. to Report Fiscal Year 2024 Results on Dec 13, 2024 TORQ Inc. announced that they will report fiscal year 2024 results on Dec 13, 2024 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 31 January 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.3%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥4.75b market cap, or US$33.7m). Reported Earnings • Sep 15
Third quarter 2024 earnings released: EPS: JP¥8.93 (vs JP¥8.01 in 3Q 2023) Third quarter 2024 results: EPS: JP¥8.93 (up from JP¥8.01 in 3Q 2023). Revenue: JP¥5.72b (up 4.3% from 3Q 2023). Net income: JP¥221.4m (up 11% from 3Q 2023). Profit margin: 3.9% (up from 3.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 30
TORQ Inc. (TSE:8077) announces an Equity Buyback for 1,240,000 shares, representing 5.04% for ¥272.8 million. TORQ Inc. (TSE:8077) announces a share repurchase program. Under the program, the company will repurchase up to 1,240,000 shares, representing 5.04% of its issued share capital (excluding treasury stock), for a total purchase price of ¥272.8 million. The shares will be repurchased at a price of ¥220 per share. The purpose of the program is to enhance shareholder returns and enable the implementation of a flexible capital policy in response to changes in the business environment. As of June 28, 2024, the company has 24,614,057 issued shares (excluding treasury stock) and 3,393,391 treasury shares. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥186, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total loss to shareholders of 11% over the past three years. Announcement • Jun 30
TORQ Inc. to Report Q3, 2024 Results on Sep 13, 2024 TORQ Inc. announced that they will report Q3, 2024 results on Sep 13, 2024 Announcement • Jun 28
TORQ Inc. (TSE:8077) announces an Equity Buyback for 260,000 shares, representing 1.05% for ¥60.58 million. TORQ Inc. (TSE:8077) announces a share repurchase program. Under the program, the company will repurchase up to 260,000 shares, representing 1.04% of its issued share capital (excluding treasury stock), for a total purchase price of ¥60.58 million. The shares will be repurchased at a price of ¥233 per share. The purpose of the program is to enhance shareholder returns and enable the implementation of a flexible capital policy in response to changes in the business environment. As of June 28, 2024, the company has 24,868,757 issued shares (excluding treasury stock) and 3,138,691 treasury shares. Reported Earnings • Jun 15
Second quarter 2024 earnings released: EPS: JP¥9.38 (vs JP¥11.04 in 2Q 2023) Second quarter 2024 results: EPS: JP¥9.38 (down from JP¥11.04 in 2Q 2023). Revenue: JP¥5.56b (up 2.1% from 2Q 2023). Net income: JP¥233.1m (down 15% from 2Q 2023). Profit margin: 4.2% (down from 5.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 15
First half dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 30th October 2024 Payment date: 31st January 2025 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 1.8% 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 grown by 5.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Apr 19
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 16 July 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.3%). Announcement • Mar 31
TORQ Inc. to Report Q2, 2024 Results on Jun 13, 2024 TORQ Inc. announced that they will report Q2, 2024 results on Jun 13, 2024 Reported Earnings • Mar 17
First quarter 2024 earnings released: EPS: JP¥3.14 (vs JP¥5.77 in 1Q 2023) First quarter 2024 results: EPS: JP¥3.14 (down from JP¥5.77 in 1Q 2023). Revenue: JP¥5.31b (flat on 1Q 2023). Net income: JP¥78.0m (down 46% from 1Q 2023). Profit margin: 1.5% (down from 2.7% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 16
Final dividend of JP¥3.00 announced Dividend of JP¥3.00 is the same as last year. Ex-date: 26th April 2024 Payment date: 16th July 2024 Dividend yield will be 2.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 1.8% 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 grown by 8.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 03
Full year 2023 earnings released: EPS: JP¥34.04 (vs JP¥21.47 in FY 2022) Full year 2023 results: EPS: JP¥34.04 (up from JP¥21.47 in FY 2022). Revenue: JP¥21.8b (up 6.3% from FY 2022). Net income: JP¥845.0m (up 59% from FY 2022). Profit margin: 3.9% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥304, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 11x in the Trade Distributors industry in Japan. Total returns to shareholders of 33% over the past three years. Announcement • Jan 09
TORQ Inc. to Report Q1, 2024 Results on Mar 15, 2024 TORQ Inc. announced that they will report Q1, 2024 results on Mar 15, 2024 Reported Earnings • Dec 15
Full year 2023 earnings released: EPS: JP¥34.05 (vs JP¥21.47 in FY 2022) Full year 2023 results: EPS: JP¥34.05 (up from JP¥21.47 in FY 2022). Revenue: JP¥21.8b (up 6.3% from FY 2022). Net income: JP¥845.4m (up 59% from FY 2022). Profit margin: 3.9% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Oct 30
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 5.3% 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 Debt is not well covered by operating cash flow (4.8% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥6.61b market cap, or US$44.1m). Upcoming Dividend • Oct 23
Upcoming dividend of JP¥3.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 30 January 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.1%). Announcement • Oct 05
TORQ Inc. to Report Fiscal Year 2023 Results on Dec 14, 2023 TORQ Inc. announced that they will report fiscal year 2023 results on Dec 14, 2023 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥317, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 10x in the Trade Distributors industry in Japan. Total returns to shareholders of 5.8% over the past three years. Reported Earnings • Sep 14
Third quarter 2023 earnings released: EPS: JP¥8.01 (vs JP¥2.78 in 3Q 2022) Third quarter 2023 results: EPS: JP¥8.01 (up from JP¥2.78 in 3Q 2022). Revenue: JP¥5.48b (up 7.2% from 3Q 2022). Net income: JP¥198.9m (up 188% from 3Q 2022). Profit margin: 3.6% (up from 1.3% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 15
Second quarter 2023 earnings released: EPS: JP¥11.04 (vs JP¥3.27 in 2Q 2022) Second quarter 2023 results: EPS: JP¥11.04 (up from JP¥3.27 in 2Q 2022). Revenue: JP¥5.45b (up 9.4% from 2Q 2022). Net income: JP¥274.1m (up 238% from 2Q 2022). Profit margin: 5.0% (up from 1.6% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥267, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total loss to shareholders of 15% over the past three years. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥3.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (3.5%). Reported Earnings • Mar 17
First quarter 2023 earnings released: EPS: JP¥5.77 (vs JP¥2.67 in 1Q 2022) First quarter 2023 results: EPS: JP¥5.77 (up from JP¥2.67 in 1Q 2022). Revenue: JP¥5.29b (up 6.9% from 1Q 2022). Net income: JP¥143.0m (up 117% from 1Q 2022). Profit margin: 2.7% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: JP¥21.47 (vs JP¥10.42 in FY 2021) Full year 2022 results: EPS: JP¥21.47 (up from JP¥10.42 in FY 2021). Revenue: JP¥20.5b (up 6.4% from FY 2021). Net income: JP¥532.0m (up 106% from FY 2021). Profit margin: 2.6% (up from 1.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jan 13
TORQ Inc. to Report Q1, 2023 Results on Mar 16, 2023 TORQ Inc. announced that they will report Q1, 2023 results on Mar 16, 2023 Announcement • Dec 16
TORQ Inc., Annual General Meeting, Jan 27, 2023 TORQ Inc., Annual General Meeting, Jan 27, 2023. Reported Earnings • Dec 15
Full year 2022 earnings released: EPS: JP¥21.48 (vs JP¥10.42 in FY 2021) Full year 2022 results: EPS: JP¥21.48 (up from JP¥10.42 in FY 2021). Revenue: JP¥20.5b (up 6.4% from FY 2021). Net income: JP¥532.2m (up 106% from FY 2021). Profit margin: 2.6% (up from 1.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. No independent directors (7 non-independent directors). Standing Corporate Auditor Makoto Shibata was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 26
TORQ Inc. to Report Fiscal Year 2022 Results on Dec 14, 2022 TORQ Inc. announced that they will report fiscal year 2022 results on Dec 14, 2022 Upcoming Dividend • Oct 21
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 26 January 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.7%). Reported Earnings • Sep 15
Third quarter 2022 earnings released: EPS: JP¥2.82 (vs JP¥3.07 in 3Q 2021) Third quarter 2022 results: EPS: JP¥2.82 (down from JP¥3.07 in 3Q 2021). Revenue: JP¥5.12b (up 6.8% from 3Q 2021). Net income: JP¥69.8m (down 8.2% from 3Q 2021). Profit margin: 1.4% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥230, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 8x in the Trade Distributors industry in Japan. Total loss to shareholders of 14% over the past three years. Announcement • Jul 06
TORQ Inc. to Report Q3, 2022 Results on Sep 13, 2022 TORQ Inc. announced that they will report Q3, 2022 results on Sep 13, 2022 Reported Earnings • Jun 14
Second quarter 2022 earnings released: EPS: JP¥3.27 (vs JP¥0.48 loss in 2Q 2021) Second quarter 2022 results: EPS: JP¥3.27 (up from JP¥0.48 loss in 2Q 2021). Revenue: JP¥4.98b (up 3.9% from 2Q 2021). Net income: JP¥81.0m (up JP¥93.0m from 2Q 2021). Profit margin: 1.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. No independent directors (7 non-independent directors). Standing Corporate Auditor Makoto Shibata was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (3.5%). Announcement • Apr 08
TORQ Inc. to Report Q2, 2022 Results on Jun 13, 2022 TORQ Inc. announced that they will report Q2, 2022 results on Jun 13, 2022 Reported Earnings • Mar 18
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥2.67 (up from JP¥0.40 loss in 1Q 2021). Revenue: JP¥4.95b (up 10% from 1Q 2021). Net income: JP¥66.1m (up JP¥76.1m from 1Q 2021). Profit margin: 1.3% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥10.42 (up from JP¥5.27 loss in FY 2020). Revenue: JP¥19.3b (up 1.6% from FY 2020). Net income: JP¥258.0m (up JP¥390.0m from FY 2020). Profit margin: 1.3% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 29 January 2022. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (3.1%). Announcement • Sep 13
TORQ Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending October 31, 2021 TORQ Inc. provided consolidated earnings guidance for the fiscal year ending October 31, 2021. For the period, the company expects net sale of JPY 18,300 million. Operation loss of JPY 100 million. Loss attributable to owners of parent of JPY 15 million. Basic loss per share of JPY 0.61. Reported Earnings • Jun 13
Second quarter 2021 earnings released: JP¥0.48 loss per share (vs JP¥0.67 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: JP¥4.79b (down 1.2% from 2Q 2020). Net loss: JP¥11.8m (down 170% from profit in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Jun 12
TORQ Inc. Provides Earnings Guidance for the Fiscal Year Ending October 31, 2021 TORQ Inc. provided earnings guidance for the fiscal year ending October 31, 2021. For the year, the company expects net sales of ¥18,300 million, operating loss of ¥100 million and loss attributable to owners of parent of ¥15 million or ¥0.61 basic per share.