Announcement • Jun 03
Japan Ecosystem Co., Ltd. to Report Q3, 2026 Results on Aug 07, 2026 Japan Ecosystem Co., Ltd. announced that they will report Q3, 2026 results on Aug 07, 2026 Declared Dividend • May 30
First half dividend of JP¥9.00 announced Dividend of JP¥9.00 is the same as last year. Ex-date: 29th September 2026 Payment date: 25th December 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (17% 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 6.2% per year over the past 5 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 81% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Reported Earnings • May 20
Second quarter 2026 earnings released: EPS: JP¥59.24 (vs JP¥23.63 in 2Q 2025) Second quarter 2026 results: EPS: JP¥59.24 (up from JP¥23.63 in 2Q 2025). Revenue: JP¥4.47b (up 55% from 2Q 2025). Net income: JP¥516.1m (up 151% from 2Q 2025). Profit margin: 12% (up from 7.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 01 June 2026. Payout ratio is on the higher end at 99% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.2%). Reported Earnings • Feb 16
First quarter 2026 earnings released: EPS: JP¥19.51 (vs JP¥36.58 in 1Q 2025) First quarter 2026 results: EPS: JP¥19.51 (down from JP¥36.58 in 1Q 2025). Revenue: JP¥3.41b (up 24% from 1Q 2025). Net income: JP¥170.0m (down 47% from 1Q 2025). Profit margin: 5.0% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Declared Dividend • Jan 08
Final dividend of JP¥9.00 announced Shareholders will receive a dividend of JP¥9.00. Ex-date: 30th March 2026 Payment date: 1st June 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (51% 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 7.8% per year over the past 4 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 43% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.7% EPS decline seen over the last 5 years. Announcement • Dec 27
Japan Ecosystem Co., Ltd. to Report Q1, 2026 Results on Feb 13, 2026 Japan Ecosystem Co., Ltd. announced that they will report Q1, 2026 results on Feb 13, 2026 New Risk • Nov 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% 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 Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). High level of non-cash earnings (35% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (JP¥13.1b market cap, or US$83.6m). Announcement • Nov 17
Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 24, 2025 Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 24, 2025. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 26 December 2025. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.3%). Announcement • Sep 01
Japan Ecosystem Co., Ltd. to Report Fiscal Year 2025 Results on Nov 14, 2025 Japan Ecosystem Co., Ltd. announced that they will report fiscal year 2025 results on Nov 14, 2025 Reported Earnings • Aug 10
Third quarter 2025 earnings released: JP¥12.63 loss per share (vs JP¥11.29 profit in 3Q 2024) Third quarter 2025 results: JP¥12.63 loss per share (down from JP¥11.29 profit in 3Q 2024). Revenue: JP¥2.59b (up 13% from 3Q 2024). Net loss: JP¥110.0m (down 213% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 27
Japan Ecosystem Co., Ltd. to Report Q3, 2025 Results on Aug 08, 2025 Japan Ecosystem Co., Ltd. announced that they will report Q3, 2025 results on Aug 08, 2025 Declared Dividend • May 31
First half dividend of JP¥9.00 announced Shareholders will receive a dividend of JP¥9.00. Ex-date: 29th September 2025 Payment date: 26th December 2025 Dividend yield will be 2.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (5% 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 7.8% per year over the past 4 years and payments have been stable during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 60% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). High level of non-cash earnings (60% accrual ratio). Minor Risk Market cap is less than US$100m (JP¥13.3b market cap, or US$92.5m). Reported Earnings • May 21
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: JP¥2.89b (up 23% from 2Q 2024). Net income: JP¥205.3m (up 41% from 2Q 2024). Profit margin: 7.1% (up from 6.2% in 2Q 2024). Announcement • Apr 01
Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire Sansin Co., Ltd. from Kenji Satake and others. Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire Sansin Co., Ltd. from Kenji Satake and others on March 31, 2025.
For the period ending March 31, 2024, Sansin Co., Ltd. reported total revenue of ¥819 million, EBIT of ¥118 million and net income of ¥135 million. As of March 31, 2024, Sansin Co., Ltd. reported total assets of ¥1.35 billion and total common equity of ¥987 million.
The expected agreement signing and completion of the transaction is April 1, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 29 May 2025. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.3%). Announcement • Mar 01
Japan Ecosystem Co., Ltd. to Report Q2, 2025 Results on May 15, 2025 Japan Ecosystem Co., Ltd. announced that they will report Q2, 2025 results on May 15, 2025 Reported Earnings • Feb 16
First quarter 2025 earnings released: EPS: JP¥109 (vs JP¥22.24 in 1Q 2024) First quarter 2025 results: EPS: JP¥109 (up from JP¥22.24 in 1Q 2024). Revenue: JP¥2.75b (up 46% from 1Q 2024). Net income: JP¥317.0m (up 428% from 1Q 2024). Profit margin: 12% (up from 3.2% in 1Q 2024). Reported Earnings • Dec 31
Full year 2024 earnings released: EPS: JP¥222 (vs JP¥324 in FY 2023) Full year 2024 results: EPS: JP¥222 (down from JP¥324 in FY 2023). Revenue: JP¥9.30b (up 23% from FY 2023). Net income: JP¥622.0m (down 29% from FY 2023). Profit margin: 6.7% (down from 12% in FY 2023). 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 increased by 37% per year, which means it is well ahead of earnings. Announcement • Nov 30
Japan Ecosystem Co., Ltd. to Report Q1, 2025 Results on Feb 14, 2025 Japan Ecosystem Co., Ltd. announced that they will report Q1, 2025 results on Feb 14, 2025 Reported Earnings • Nov 19
Full year 2024 earnings released: EPS: JP¥222 (vs JP¥324 in FY 2023) Full year 2024 results: EPS: JP¥222 (down from JP¥324 in FY 2023). Revenue: JP¥9.30b (up 23% from FY 2023). Net income: JP¥622.0m (down 29% from FY 2023). Profit margin: 6.7% (down from 12% in FY 2023). 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 increased by 34% per year, which means it is well ahead of earnings. Announcement • Nov 14
Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 25, 2024 Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 25, 2024. Announcement • Oct 17
Japan Ecosystem Co., Ltd. (TSE:9249) completed the acquisition of Venix Co., Ltd. from Takayuki Mizukoshi and other shareholders. Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire Venix Co., Ltd. from Takayuki Mizukoshi and other shareholders for ¥1.1 billion on October 10, 2024. A cash consideration of ¥1.08 billion will be paid by Japan Ecosystem for 40,000 shares. For the period ending November 30, 2023, Venix Co., Ltd. reported total revenue of ¥1.64 billion, EBIT of ¥219 million and net income of ¥148 million. As of November 30, 2023, Venix Co., Ltd. reported total assets of ¥1.85 billion and total common equity of ¥1.31 billion.
Japan Ecosystem Co., Ltd. (TSE:9249) completed the acquisition of Venix Co., Ltd. from Takayuki Mizukoshi and other shareholders on October 17, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 December 2024. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (1.2%). Announcement • Aug 30
Japan Ecosystem Co., Ltd. to Report Fiscal Year 2024 Results on Nov 14, 2024 Japan Ecosystem Co., Ltd. announced that they will report fiscal year 2024 results on Nov 14, 2024 Reported Earnings • Aug 14
Third quarter 2024 earnings released: EPS: JP¥33.88 (vs JP¥60.82 in 3Q 2023) Third quarter 2024 results: EPS: JP¥33.88 (down from JP¥60.82 in 3Q 2023). Revenue: JP¥2.30b (up 22% from 3Q 2023). Net income: JP¥97.0m (down 41% from 3Q 2023). Profit margin: 4.2% (down from 8.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Announcement • Jun 02
Japan Ecosystem Co., Ltd. to Report Q3, 2024 Results on Aug 09, 2024 Japan Ecosystem Co., Ltd. announced that they will report Q3, 2024 results on Aug 09, 2024 Reported Earnings • May 19
Second quarter 2024 earnings released: EPS: JP¥52.49 (vs JP¥50.08 in 2Q 2023) Second quarter 2024 results: EPS: JP¥52.49 (up from JP¥50.08 in 2Q 2023). Revenue: JP¥2.35b (up 27% from 2Q 2023). Net income: JP¥146.0m (up 8.1% from 2Q 2023). Profit margin: 6.2% (down from 7.3% in 2Q 2023). Declared Dividend • May 16
Dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 27th September 2024 Payment date: 27th December 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 5.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.3%). Announcement • Feb 24
Japan Ecosystem Co., Ltd. to Report Q2, 2024 Results on May 14, 2024 Japan Ecosystem Co., Ltd. announced that they will report Q2, 2024 results on May 14, 2024 New Risk • Feb 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (25% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (JP¥11.3b market cap, or US$75.3m). Board Change • Feb 19
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Yoshihiko Tano 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 • Feb 15
First quarter 2024 earnings released: EPS: JP¥22.24 (vs JP¥181 in 1Q 2023) First quarter 2024 results: EPS: JP¥22.24 (down from JP¥181 in 1Q 2023). Revenue: JP¥1.88b (up 4.7% from 1Q 2023). Net income: JP¥60.0m (down 88% from 1Q 2023). Profit margin: 3.2% (down from 27% in 1Q 2023). Announcement • Jan 31
Japan Ecosystem Co., Ltd. (TSE:9249) acquired ECOVEN Co., Ltd from House Link Management K.K. Japan Ecosystem Co., Ltd. (TSE:9249) acquired ECOVEN Co., Ltd from House Link Management K.K. on January 30, 2024. As part of acquisition, 200 shares were acquired.Japan Ecosystem Co., Ltd. (TSE:9249) completed the acquisition of ECOVEN Co., Ltd from House Link Management K.K. on January 30, 2024. New Risk • Jan 22
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 7.2% 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: 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 (7.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥5.62b market cap, or US$38.0m). Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥2,084, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 15x in the Industrials industry in Japan. Total returns to shareholders of 30% over the past year. Announcement • Dec 20
Japan Ecosystem Co., Ltd. to Report Q1, 2024 Results on Feb 13, 2024 Japan Ecosystem Co., Ltd. announced that they will report Q1, 2024 results on Feb 13, 2024 Reported Earnings • Nov 20
Full year 2023 earnings released: EPS: JP¥324 (vs JP¥153 in FY 2022) Full year 2023 results: EPS: JP¥324 (up from JP¥153 in FY 2022). Revenue: JP¥7.58b (up 4.9% from FY 2022). Net income: JP¥874.0m (up 114% from FY 2022). Profit margin: 12% (up from 5.7% in FY 2022). Announcement • Nov 15
Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 26, 2023 Japan Ecosystem Co., Ltd., Annual General Meeting, Dec 26, 2023. Announcement • Sep 29
Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire Tech Create Co., Ltd. from Yoichi Yamamori and others. Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire Tech Create Co., Ltd. from Yoichi Yamamori and others on September 27, 2023. The transaction is expected to close on September 27, 2023. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥26.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 26 December 2023. Payout ratio is a comfortable 14% and the cash payout ratio is 89%. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Announcement • Sep 02
Japan Ecosystem Co., Ltd. to Report Fiscal Year 2023 Results on Nov 14, 2023 Japan Ecosystem Co., Ltd. announced that they will report fiscal year 2023 results on Nov 14, 2023 Reported Earnings • Aug 14
Third quarter 2023 earnings released: EPS: JP¥60.82 (vs JP¥49.34 in 3Q 2022) Third quarter 2023 results: EPS: JP¥60.82 (up from JP¥49.34 in 3Q 2022). Revenue: JP¥1.89b (down 1.3% from 3Q 2022). Net income: JP¥164.0m (up 24% from 3Q 2022). Profit margin: 8.7% (up from 6.9% in 3Q 2022). Announcement • Aug 12
Japan Ecosystem Co., Ltd. announced that it expects to receive ¥0.921 million in funding Japan Ecosystem Co., Ltd. announced a private placement of 750 stock acquisition rights for the gross proceeds of ¥1,228 per warrant for the gross proceeds of ¥921,000 on August 10, 2023. The company will issue 100 shares per stock acquisition right at an exercise price of ¥12.28 per share. The transaction is expected to close on August 28, 2023. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,920, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 15x in the Industrials industry in Japan. Total returns to shareholders of 23% over the past year. Announcement • May 28
Japan Ecosystem Co., Ltd. to Report Q3, 2023 Results on Aug 10, 2023 Japan Ecosystem Co., Ltd. announced that they will report Q3, 2023 results on Aug 10, 2023 Announcement • Jan 19
Japan Ecosystem Co., Ltd. (TSE:9249) entered into Share Transfer Agreement to acquire Aoi Denki Kogyo Co.,Ltd. Japan Ecosystem Co., Ltd. (TSE:9249) entered into Share Transfer Agreement to acquire Aoi Denki Kogyo Co.,Ltd from Hidetaka Mase and Michiko Mase for JPY 315 million on January 17, 2023. The deal is expected to close in second quarter of the fiscal year ending September 2023. Announcement • Nov 30
Japan Ecosystem Co., Ltd. to Report Q1, 2023 Results on Feb 10, 2023 Japan Ecosystem Co., Ltd. announced that they will report Q1, 2023 results on Feb 10, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Sep 02
Japan Ecosystem Co., Ltd. to Report Fiscal Year 2022 Results on Nov 14, 2022 Japan Ecosystem Co., Ltd. announced that they will report fiscal year 2022 results on Nov 14, 2022 Announcement • Jun 09
Japan Ecosystem Co., Ltd. to Report Q3, 2022 Results on Aug 08, 2022 Japan Ecosystem Co., Ltd. announced that they will report Q3, 2022 results on Aug 08, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 08
Japan Ecosystem Co., Ltd. to Report Q2, 2022 Results on May 12, 2022 Japan Ecosystem Co., Ltd. announced that they will report Q2, 2022 results on May 12, 2022 Announcement • Jan 22
Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire remaining 86% stake in Nissin Bridge Engineering Co., Ltd. from Norimichi Hibino and Yuko Hibino. Japan Ecosystem Co., Ltd. (TSE:9249) agreed to acquire remaining 86% stake in Nissin Bridge Engineering Co., Ltd. from Norimichi Hibino and Yuko Hibino on January 19, 2022. The deal is subject to Japan Ecosystem Co., Ltd. (TSE:9249) bard approval. As of January 19, 2022 Japan Ecosystem Co., Ltd. (TSE:9249) board approved the deal. The deal is expected to complete on February 15, 2022. Announcement • Dec 29
Japan Ecosystem Co., Ltd. Announces Notice Regarding Registration of Product Marox Series by The United States Patent and Trademark Office Japan Ecosystem Co., Ltd. inform that an applicated US patent for the Marox® series, the products developed, manufactured and sold by the Company, has been registered by the United States Patent and Trademark Office (USPTO) as follows. Title of the invention: WATER TREATING AGENT AND KIT AND METHODS FOR PRODUCING AND USING Patent Number: US 11,186,508. Date of Patent: November 30, 2021. As a leading company in the environment and society, are aiming at a sustainable development of local economies and society by engaging in corporate activities with maximum consideration for the environment and society. In order to achieve this, research is being conducted by environmental business unit primely to develop new formulations that change the conventional concept of wastewater treatment day to day This time, A patent that have been applied for some time has been registered by USPTO. This patent provides a method for manufacturing the water treatment agent useful for reducing such as mixed liquor suspended solids (MLSS) in such as food factory effluents, and the total nitrogen in water to be treated containing nitrogen-containing compounds, a method for treating water to be treated using the water treatment agent, and a kit for manufacturing the water treatment agent. Using advanced technologies in this patent, will develop, manufacture, and sell new products that are compatible with low costs and legal compliance, and contribute to prevention of environmental pollution in the United States, assurance of secure lives, and building sustainable society. Reported Earnings • Dec 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥286 (up from JP¥113 in FY 2020). Revenue: JP¥6.99b (up 14% from FY 2020). Net income: JP¥571.0m (up 153% from FY 2020). Profit margin: 8.2% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Nov 16
Full year 2021 earnings released: EPS JP¥286 (vs JP¥113 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥6.99b (up 14% from FY 2020). Net income: JP¥571.0m (up 153% from FY 2020). Profit margin: 8.2% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Board Change • Oct 08
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
