Reported Earnings • Aug 06
First quarter 2027 earnings released: EPS: JP¥57.65 (vs JP¥52.12 in 1Q 2026) First quarter 2027 results: EPS: JP¥57.65 (up from JP¥52.12 in 1Q 2026). Revenue: JP¥8.53b (up 7.2% from 1Q 2026). Net income: JP¥1.33b (up 11% from 1Q 2026). Profit margin: 16% (in line with 1Q 2026). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 25
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th September 2026 Payment date: 1st December 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 44% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 12
grems,Inc. to Report Q1, 2027 Results on Aug 05, 2026 grems,Inc. announced that they will report Q1, 2027 results on Aug 05, 2026 Reported Earnings • May 20
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥212 (up from JP¥197 in FY 2025). Revenue: JP¥33.9b (up 1.8% from FY 2025). Net income: JP¥4.90b (up 7.4% from FY 2025). Profit margin: 14% (in line with FY 2025). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,462, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Commercial Services industry in Japan. Total returns to shareholders of 3.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,014 per share. Announcement • May 15
grems,Inc., Annual General Meeting, Jun 24, 2026 grems,Inc., Annual General Meeting, Jun 24, 2026. Announcement • May 09
grems,Inc. to Report Fiscal Year 2026 Results on May 15, 2026 grems,Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥62.29 (vs JP¥50.15 in 3Q 2025) Third quarter 2026 results: EPS: JP¥62.29 (up from JP¥50.15 in 3Q 2025). Revenue: JP¥8.69b (up 7.5% from 3Q 2025). Net income: JP¥1.44b (up 24% from 3Q 2025). Profit margin: 17% (up from 14% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 15
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to JP¥2,565. The fair value is estimated to be JP¥2,137, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 33% in the next 2 years. Announcement • Dec 27
grems,Inc. to Report Q3, 2026 Results on Feb 04, 2026 grems,Inc. announced that they will report Q3, 2026 results on Feb 04, 2026 Buy Or Sell Opportunity • Dec 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.3% to JP¥2,584. The fair value is estimated to be JP¥2,152, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Declared Dividend • Dec 02
First half dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 42% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: JP¥56.45 (vs JP¥51.04 in 2Q 2025) Second quarter 2026 results: EPS: JP¥56.45 (up from JP¥51.04 in 2Q 2025). Revenue: JP¥9.46b (up 3.7% from 2Q 2025). Net income: JP¥1.30b (up 11% from 2Q 2025). Profit margin: 14% (in line with 2Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Sep 27
grems,Inc. to Report Q2, 2026 Results on Nov 05, 2025 grems,Inc. announced that they will report Q2, 2026 results on Nov 05, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥52.12 (vs JP¥50.52 in 1Q 2025) First quarter 2026 results: EPS: JP¥52.12 (up from JP¥50.52 in 1Q 2025). Revenue: JP¥7.96b (down 5.1% from 1Q 2025). Net income: JP¥1.20b (up 3.2% from 1Q 2025). Profit margin: 15% (up from 14% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 42% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 08
grems,Inc. to Report Q1, 2026 Results on Aug 06, 2025 grems,Inc. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥197 (up from JP¥154 in FY 2024). Revenue: JP¥33.3b (up 12% from FY 2024). Net income: JP¥4.56b (up 29% from FY 2024). Profit margin: 14% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 5.5%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • May 15
gremz,Inc., Annual General Meeting, Jun 25, 2025 gremz,Inc., Annual General Meeting, Jun 25, 2025. Announcement • Apr 01
gremz,Inc. to Report Fiscal Year 2025 Results on May 15, 2025 gremz,Inc. announced that they will report fiscal year 2025 results on May 15, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.1%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥50.13 (vs JP¥43.46 in 3Q 2024) Third quarter 2025 results: EPS: JP¥50.13 (up from JP¥43.46 in 3Q 2024). Revenue: JP¥8.08b (up 3.5% from 3Q 2024). Net income: JP¥1.16b (up 15% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Dec 06
gremz,Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 gremz,Inc. provided consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 34,000 million, operating profit of JPY 6,500 million, profit attributable to owners of parent of JPY 4,320 million and basic earnings per share of JPY 187.00. Declared Dividend • Dec 03
First half dividend increased to JP¥37.00 Dividend of JP¥37.00 is 16% higher than last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 35% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 06
gremz,Inc. to Report Q2, 2025 Results on Nov 14, 2024 gremz,Inc. announced that they will report Q2, 2025 results on Nov 14, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.0%). Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: JP¥50.00 (vs JP¥55.72 in 1Q 2024) First quarter 2025 results: EPS: JP¥50.00 (down from JP¥55.72 in 1Q 2024). Revenue: JP¥7.65b (up 1.9% from 1Q 2024). Net income: JP¥1.16b (down 9.6% from 1Q 2024). Profit margin: 15% (down from 17% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,978, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Japan. Total loss to shareholders of 23% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 37% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 10
gremz,Inc. to Report Q1, 2025 Results on Aug 09, 2024 gremz,Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • Jun 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 Japanese stocks, typically moving 5.6% 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 (5.6% average weekly change). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥2,374, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Commercial Services industry in Japan. Total returns to shareholders of 39% over the past three years. Price Target Changed • Jun 01
Price target increased by 32% to JP¥5,000 Up from JP¥3,800, the current price target is provided by 1 analyst. New target price is 121% above last closing price of JP¥2,263. Stock is down 17% over the past year. The company is forecast to post earnings per share of JP¥187 for next year compared to JP¥154 last year. Reported Earnings • May 20
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥154 (up from JP¥108 in FY 2023). Revenue: JP¥29.9b (down 4.7% from FY 2023). Net income: JP¥3.54b (up 44% from FY 2023). Profit margin: 12% (up from 7.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 17
gremz,Inc., Annual General Meeting, Jun 26, 2024 gremz,Inc., Annual General Meeting, Jun 26, 2024. Announcement • Apr 07
gremz,Inc. to Report Fiscal Year 2024 Results on May 15, 2024 gremz,Inc. announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥33.0b to JP¥30.0b. EPS estimate also fell from JP¥173 per share to JP¥152 per share. Net income forecast to grow 11% next year vs 11% growth forecast for Commercial Services industry in Japan. Consensus price target down from JP¥4,000 to JP¥3,800. Share price rose 2.9% to JP¥2,090 over the past week. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: JP¥43.46 (vs JP¥49.35 in 3Q 2023) Third quarter 2024 results: EPS: JP¥43.46 (down from JP¥49.35 in 3Q 2023). Revenue: JP¥7.81b (down 7.6% from 3Q 2023). Net income: JP¥1.00b (down 11% from 3Q 2023). Profit margin: 13% (in line with 3Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Feb 14
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 5.8% 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 (5.8% average weekly change). Announcement • Dec 28
gremz,Inc. to Report Q3, 2024 Results on Feb 14, 2024 gremz,Inc. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: JP¥39.23 (vs JP¥18.66 in 2Q 2023) Second quarter 2024 results: EPS: JP¥39.23 (up from JP¥18.66 in 2Q 2023). Revenue: JP¥8.44b (down 6.7% from 2Q 2023). Net income: JP¥900.0m (up 112% from 2Q 2023). Profit margin: 11% (up from 4.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Oct 07
gremz,Inc. to Report Q2, 2024 Results on Nov 14, 2023 gremz,Inc. announced that they will report Q2, 2024 results on Nov 14, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.9%). Major Estimate Revision • Aug 21
Consensus EPS estimates increase by 21%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥34.0b to JP¥33.0b. EPS estimate rose from JP¥144 to JP¥175. Net income forecast to grow 23% next year vs 9.5% growth forecast for Commercial Services industry in Japan. Consensus price target up from JP¥3,600 to JP¥4,000. Share price fell 6.2% to JP¥2,464 over the past week. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥55.72 (vs JP¥15.59 in 1Q 2023) First quarter 2024 results: EPS: JP¥55.72 (up from JP¥15.59 in 1Q 2023). Revenue: JP¥7.51b (up 9.0% from 1Q 2023). Net income: JP¥1.28b (up 260% from 1Q 2023). Profit margin: 17% (up from 5.2% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 12
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be JP¥3,530, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Reported Earnings • May 19
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥108 (up from JP¥94.77 in FY 2022). Revenue: JP¥31.4b (up 35% from FY 2022). Net income: JP¥2.47b (up 14% from FY 2022). Profit margin: 7.9% (down from 9.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 7.1%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,548, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Commercial Services industry in Japan. Total returns to shareholders of 113% over the past three years. Announcement • May 16
gremz,Inc., Annual General Meeting, Jun 28, 2023 gremz,Inc., Annual General Meeting, Jun 28, 2023. Buying Opportunity • May 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be JP¥2,720, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 16% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Buying Opportunity • Apr 24
Now 20% undervalued Over the last 90 days, the stock is up 4.8%. The fair value is estimated to be JP¥2,725, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 16% in 2 years. Earnings is forecast to grow by 51% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to JP¥2,690, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Commercial Services industry in Japan. Total returns to shareholders of 143% over the past three years. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥49.35 (vs JP¥26.66 in 3Q 2022) Third quarter 2023 results: EPS: JP¥49.35 (up from JP¥26.66 in 3Q 2022). Revenue: JP¥8.45b (up 45% from 3Q 2022). Net income: JP¥1.12b (up 85% from 3Q 2022). Profit margin: 13% (up from 10% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jan 04
Now 21% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be JP¥2,587, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 6.0%. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 72% in the next 2 years. Announcement • Dec 29
gremz,Inc. to Report Q3, 2023 Results on Jan 31, 2023 gremz,Inc. announced that they will report Q3, 2023 results on Jan 31, 2023 Major Estimate Revision • Dec 14
Consensus revenue estimates increase by 14% The consensus outlook for revenues in 2023 has improved. 2023 revenue forecast increased from JP¥28.5b to JP¥32.5b. EPS estimate increased from JP¥83.40 to JP¥87.80 per share. Net income forecast to grow 41% next year vs 12% growth forecast for Commercial Services industry in Japan. Consensus price target up from JP¥1,800 to JP¥2,000. Share price rose 10% to JP¥1,998 over the past week. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥18.66 (vs JP¥27.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥18.66 (down from JP¥27.67 in 2Q 2022). Revenue: JP¥9.04b (up 66% from 2Q 2022). Net income: JP¥425.0m (down 33% from 2Q 2022). Profit margin: 4.7% (down from 12% in 2Q 2022). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. 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. 5 experienced directors. 4 highly experienced directors. No independent directors (9 non-independent directors). Director Kenji Zenmura was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥18.66 (vs JP¥27.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥18.66 (down from JP¥27.67 in 2Q 2022). Revenue: JP¥9.04b (up 66% from 2Q 2022). Net income: JP¥425.0m (down 33% from 2Q 2022). Profit margin: 4.7% (down from 12% in 2Q 2022). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.3%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥15.59 (vs JP¥30.48 in 1Q 2022) First quarter 2023 results: EPS: JP¥15.59 (down from JP¥30.48 in 1Q 2022). Revenue: JP¥6.88b (up 39% from 1Q 2022). Net income: JP¥355.0m (down 49% from 1Q 2022). Profit margin: 5.2% (down from 14% in 1Q 2022). Over the next year, revenue is forecast to grow 14%, compared to a 5.2% growth forecast for the 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 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 06
gremz,Inc. to Report Q1, 2023 Results on Jul 29, 2022 gremz,Inc. announced that they will report Q1, 2023 results on Jul 29, 2022 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,528, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Commercial Services industry in Japan. Total returns to shareholders of 68% over the past three years. Major Estimate Revision • Jun 14
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥26.3b to JP¥27.5b. EPS estimate fell from JP¥112 to JP¥79.00 per share. Net income forecast to shrink 17% next year vs 4.0% growth forecast for Commercial Services industry in Japan . Consensus price target down from JP¥2,300 to JP¥1,800. Share price fell 6.9% to JP¥1,398 over the past week. Reported Earnings • May 17
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: JP¥94.77 (up from JP¥49.42 in FY 2021). Revenue: JP¥23.3b (up 20% from FY 2021). Net income: JP¥2.16b (up 93% from FY 2021). Profit margin: 9.3% (up from 5.8% in FY 2021). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) missed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 13%, compared to a 2.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Gremz,Inc. Provides Dividend Guidance for the Second Quarter and Year-End Dividend for the Year Ending March 31, 2023 gremz,Inc. provided dividend guidance for the second quarter and year-end dividend for the year ending March 31, 2023. For the second quarter, the company expects to pay dividend of JPY 5.00 per share against JPY 5.00 per share paid a year ago. For the year-end, the company expects to pay dividend of JPY 14.00 per share against JPY 14.00 per share a year ago.