New Risk • May 21
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (JP¥12.1b market cap, or US$76.1m). Reported Earnings • May 16
Full year 2026 earnings released: EPS: JP¥8.81 (vs JP¥31.02 in FY 2025) Full year 2026 results: EPS: JP¥8.81 (down from JP¥31.02 in FY 2025). Revenue: JP¥45.3b (flat on FY 2025). Net income: JP¥421.0m (down 72% from FY 2025). Profit margin: 0.9% (down from 3.3% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 33% 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. Announcement • May 15
Sanix Holdings Incorporated, Annual General Meeting, Jun 26, 2026 Sanix Holdings Incorporated, Annual General Meeting, Jun 26, 2026. Announcement • May 09
Sanix Holdings Incorporated to Report Fiscal Year 2026 Results on May 15, 2026 Sanix Holdings Incorporated announced that they will report fiscal year 2026 results on May 15, 2026 New Risk • Apr 21
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 7.9% 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 High level of debt (62% net debt to equity). Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (JP¥13.4b market cap, or US$84.1m). Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥279, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 15x in the Commercial Services industry in Japan. Total loss to shareholders of 1.5% over the past three years. Reported Earnings • Feb 18
Third quarter 2026 earnings released: EPS: JP¥6.76 (vs JP¥11.74 in 3Q 2025) Third quarter 2026 results: EPS: JP¥6.76 (down from JP¥11.74 in 3Q 2025). Revenue: JP¥11.2b (down 2.4% from 3Q 2025). Net income: JP¥323.0m (down 42% from 3Q 2025). Profit margin: 2.9% (down from 4.9% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Dec 03
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. 2 experienced directors. 5 highly experienced directors. Independent Outside Director Sadahito Baba was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Nov 29
Sanix Holdings Incorporated to Report Q3, 2026 Results on Feb 16, 2026 Sanix Holdings Incorporated announced that they will report Q3, 2026 results on Feb 16, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥0.56 (vs JP¥10.98 in 2Q 2025) Second quarter 2026 results: EPS: JP¥0.56 (down from JP¥10.98 in 2Q 2025). Revenue: JP¥11.0b (flat on 2Q 2025). Net income: JP¥27.0m (down 95% from 2Q 2025). Profit margin: 0.2% (down from 4.8% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 25
Sanix Holdings Incorporated to Report Q2, 2026 Results on Nov 14, 2025 Sanix Holdings Incorporated announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 15
First quarter 2026 earnings released: JP¥13.39 loss per share (vs JP¥2.82 profit in 1Q 2025) First quarter 2026 results: JP¥13.39 loss per share (down from JP¥2.82 profit in 1Q 2025). Revenue: JP¥10.5b (flat on 1Q 2025). Net loss: JP¥640.0m (down JP¥775.0m from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 26
Sanix Holdings Incorporated to Report Q1, 2026 Results on Aug 13, 2025 Sanix Holdings Incorporated announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • May 20
Full year 2025 earnings released: EPS: JP¥31.02 (vs JP¥56.42 in FY 2024) Full year 2025 results: EPS: JP¥31.02 (down from JP¥56.42 in FY 2024). Revenue: JP¥45.4b (down 3.8% from FY 2024). Net income: JP¥1.48b (down 45% from FY 2024). Profit margin: 3.3% (down from 5.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • May 16
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 7.5% 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 High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Market cap is less than US$100m (JP¥12.7b market cap, or US$87.0m). Announcement • May 15
Sanix Holdings Incorporated, Annual General Meeting, Jun 26, 2025 Sanix Holdings Incorporated, Annual General Meeting, Jun 26, 2025. New Risk • Apr 08
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 6.2% 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 High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.8% net profit margin). Market cap is less than US$100m (JP¥10.4b market cap, or US$70.6m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥197, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 12x in the Commercial Services industry in Japan. Total loss to shareholders of 26% over the past three years. Announcement • Mar 26
Sanix Incorporated to Report Fiscal Year 2025 Results on May 15, 2025 Sanix Incorporated announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥11.74 (vs JP¥14.23 in 3Q 2024) Third quarter 2025 results: EPS: JP¥11.74 (down from JP¥14.23 in 3Q 2024). Revenue: JP¥11.5b (down 1.4% from 3Q 2024). Net income: JP¥561.0m (down 18% from 3Q 2024). Profit margin: 4.9% (down from 5.8% in 3Q 2024). Revenue is forecast to grow 6.5% 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 90% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 03
Sanix Incorporated to Report Q3, 2025 Results on Feb 14, 2025 Sanix Incorporated announced that they will report Q3, 2025 results on Feb 14, 2025 Announcement • Sep 26
Sanix Incorporated to Report Q2, 2025 Results on Nov 14, 2024 Sanix Incorporated announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: JP¥5.33 loss per share (vs JP¥1.32 profit in 1Q 2024) First quarter 2025 results: JP¥5.33 loss per share (down from JP¥1.32 profit in 1Q 2024). Revenue: JP¥10.3b (down 7.2% from 1Q 2024). Net loss: JP¥255.0m (down JP¥318.0m from profit in 1Q 2024). Revenue is forecast to grow 5.1% 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 64% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks High level of debt (46% net debt to equity). Market cap is less than US$100m (JP¥9.51b market cap, or US$66.8m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 35% After last week's 35% share price decline to JP¥199, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Commercial Services industry in Japan. Total loss to shareholders of 43% over the past three years. Announcement • Jun 27
Sanix Incorporated to Report Q1, 2025 Results on Aug 09, 2024 Sanix Incorporated announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • Jun 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks High level of debt (46% net debt to equity). Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥13.3b market cap, or US$85.0m). Announcement • Jun 10
Sanix Incorporated Provides Consolidated Earnings Guidance for the First Half and Full Year Ending March 31, 2025 Sanix Incorporated provided consolidated earnings guidance for the first half and full year ending March 31, 2025. For the first half, the company expects net sales of JPY 22,726 million, operating profit of JPY 613 million and profit attributable to owners of parent of JPY 366 million or JPY 10.10 per basic share.For the full year ending March 31, 2025, the company expects net sales of JPY 46,246 million, operating profit of JPY 1,715 million and profit attributable to owners of parent of JPY 1,093 million or JPY 22.88 per basic share. New Risk • May 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% 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 3.8% per year for the foreseeable future. Minor Risks High level of debt (46% net debt to equity). Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (JP¥13.4b market cap, or US$86.0m). Reported Earnings • May 21
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥56.42 (up from JP¥27.86 in FY 2023). Revenue: JP¥47.2b (up 1.9% from FY 2023). Net income: JP¥2.70b (up 102% from FY 2023). Profit margin: 5.7% (up from 2.9% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.9%. Revenue is forecast to grow 4.9% 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 35% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • May 17
Sanix Incorporated, Annual General Meeting, Jun 27, 2024 Sanix Incorporated, Annual General Meeting, Jun 27, 2024. New Risk • May 16
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 6.1% 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 High level of debt (71% net debt to equity). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (JP¥13.2b market cap, or US$85.6m). Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥277, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Commercial Services industry in Japan. Total loss to shareholders of 17% over the past three years. Announcement • Mar 27
Sanix Incorporated to Report Fiscal Year 2024 Results on May 15, 2024 Sanix Incorporated announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JP¥14.23 (vs JP¥4.33 in 3Q 2023) Third quarter 2024 results: EPS: JP¥14.23 (up from JP¥4.33 in 3Q 2023). Revenue: JP¥11.7b (flat on 3Q 2023). Net income: JP¥680.0m (up 229% from 3Q 2023). Profit margin: 5.8% (up from 1.8% in 3Q 2023). Revenue is forecast to grow 3.6% 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 1% per year whereas the company’s share price has remained flat. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.7b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks High level of debt (80% net debt to equity). Market cap is less than US$100m (JP¥14.7b market cap, or US$99.6m). Announcement • Dec 27
Sanix Incorporated to Report Q3, 2024 Results on Feb 14, 2024 Sanix Incorporated announced that they will report Q3, 2024 results on Feb 14, 2024 New Risk • Dec 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 High level of debt (80% net debt to equity). Share price has been volatile over the past 3 months (5.6% average weekly change). Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: JP¥22.24 (vs JP¥5.61 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.24 (up from JP¥5.61 in 2Q 2023). Revenue: JP¥11.5b (up 1.8% from 2Q 2023). Net income: JP¥1.06b (up 297% from 2Q 2023). Profit margin: 9.2% (up from 2.4% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 4.8% 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 fallen by 33% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Oct 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.8b (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks High level of debt (122% net debt to equity). Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (JP¥14.8b market cap, or US$98.8m). Announcement • Sep 27
Sanix Incorporated to Report Q2, 2024 Results on Nov 14, 2023 Sanix Incorporated announced that they will report Q2, 2024 results on Nov 14, 2023 Announcement • Aug 23
Sanix Incorporated Provides Earnings Guidance for the First Half 2023 and Year Ending March 31, 2024 Sanix Incorporated provided earnings guidance for the first half 2023 and year ending March 31, 2024. For the first half 2023, the company expects net sales to be ¥23,873 million. Operating profit to be ¥1,452 million. Profit attributable to owners of parent to be ¥1,035 million or ¥21.65 basic earnings per share. For the year 2023, the company expects net sales to be ¥47,965 million. Operating profit to be ¥3,231 million. Profit attributable to owners of parent to be ¥2,495 million or ¥52.20 basic earnings per share. New Risk • Aug 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risks High level of debt (122% net debt to equity). Market cap is less than US$100m (JP¥14.1b market cap, or US$97.1m). Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥1.32 (vs JP¥3.64 in 1Q 2023) First quarter 2024 results: EPS: JP¥1.32 (down from JP¥3.64 in 1Q 2023). Revenue: JP¥11.1b (down 2.3% from 1Q 2023). Net income: JP¥63.0m (down 64% from 1Q 2023). Profit margin: 0.6% (down from 1.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.0% 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, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Jun 26
Sanix Incorporated to Report Q1, 2024 Results on Aug 09, 2023 Sanix Incorporated announced that they will report Q1, 2024 results on Aug 09, 2023 New Risk • Jun 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 42% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (107% net debt to equity). Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Announcement • Jun 03
Sanix Incorporated Provides Earnings Guidance for the First Half and Fiscal Year Ended March 31, 2024 Sanix Incorporated provided earnings guidance for the First Half and fiscal year ended March 31, 2024. For the First Half, the company expects net sales of ¥23,873 million. Operating Income of ¥1,452 million. Profit attributable to owners of parent of ¥1,035 million. Basic earnings per share of ¥21.65.For the year, the company expects net sales of ¥47,965 million. Operating Income of ¥3,231 million. Profit attributable to owners of parent of ¥2,495 million. Basic earnings per share of ¥52.20. Reported Earnings • May 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥27.86 (up from JP¥72.15 loss in FY 2022). Revenue: JP¥46.3b (down 9.1% from FY 2022). Net income: JP¥1.33b (up JP¥4.78b from FY 2022). Profit margin: 2.9% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 33%. Revenue is forecast to grow 3.9% 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, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 18
Third quarter 2023 earnings released: EPS: JP¥4.33 (vs JP¥9.16 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.33 (up from JP¥9.16 loss in 3Q 2022). Revenue: JP¥11.7b (down 12% from 3Q 2022). Net income: JP¥207.0m (up JP¥645.0m from 3Q 2022). Profit margin: 1.8% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.7% 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, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Dec 26
Sanix Incorporated to Report Q3, 2023 Results on Feb 14, 2023 Sanix Incorporated announced that they will report Q3, 2023 results on Feb 14, 2023 Announcement • Nov 30
Sanix Incorporated Provides Consolidated Earnings Guidance for Year Ending March 31, 2023 Sanix Incorporated provided consolidated earnings guidance for year ending March 31, 2023. For the period, the company expected net sales of JPY 46,568 million, operating income of JPY 1,528 million, profit attributable to owners of parent of JPY 1,065 million, Basic earnings per share of JPY 22.30 per basic share. Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: JP¥5.61 (vs JP¥9.04 in 2Q 2022) Second quarter 2023 results: EPS: JP¥5.61 (down from JP¥9.04 in 2Q 2022). Revenue: JP¥11.3b (down 6.7% from 2Q 2022). Net income: JP¥268.0m (down 38% from 2Q 2022). Profit margin: 2.4% (down from 3.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.8% 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, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. 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. 7 highly experienced directors. No independent directors (12 non-independent directors). External Director Naoki Kaneko 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 • Sep 24
Sanix Incorporated to Report Q2, 2023 Results on Nov 14, 2022 Sanix Incorporated announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥3.64 (vs JP¥6.28 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥3.64 (up from JP¥6.28 loss in 1Q 2022). Revenue: JP¥11.3b (up 2.8% from 1Q 2022). Net income: JP¥174.0m (up JP¥474.0m from 1Q 2022). Profit margin: 1.5% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is expected to shrink by 2.9% compared to a 5.1% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • May 31
Sanix Incorporated Provides Earnings Guidance for the First Half and Fiscal Year Ended March 31, 2023 Sanix Incorporated provided earnings guidance for the First Half and fiscal year ended March 31, 2023. For the First Half, the company expects net sales of ¥24,279 million. Operating Income of ¥779 million. Profit attributable to owners of parent of ¥562 million. Basic earnings per share of ¥11.76.For the year, the company expects net sales of ¥51,319 million. Operating Income of ¥2,113 million. Profit attributable to owners of parent of ¥1,441 million. Basic earnings per share of ¥30.16. Reported Earnings • May 20
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: JP¥72.15 loss per share (down from JP¥41.11 profit in FY 2021). Revenue: JP¥50.9b (up 3.1% from FY 2021). Net loss: JP¥3.45b (down 276% from profit in FY 2021). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 2.1%, compared to a 2.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 18
Sanix Incorporated, Annual General Meeting, Jun 29, 2022 Sanix Incorporated, Annual General Meeting, Jun 29, 2022. 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. 9 experienced directors. 3 highly experienced directors. No independent directors (12 non-independent directors). External Director Naoki Kaneko 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 • Apr 08
Sanix Incorporated to Report Fiscal Year 2022 Results on May 16, 2022 Sanix Incorporated announced that they will report fiscal year 2022 results on May 16, 2022 Announcement • Feb 26
Sanix Incorporated Provides Earnings Guidance for the Fiscal Year Ended March 31, 2022 Sanix Incorporated provided earnings guidance for the fiscal year ended March 31, 2022. For the period, the company expects net sales of ¥50,755 million. Operating loss of ¥2,229 million. Loss attributable to owners of parent of ¥2,803 million. Basic loss per share of ¥58.64. Reported Earnings • Feb 17
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: JP¥9.16 loss per share (down from JP¥10.56 profit in 3Q 2021). Revenue: JP¥13.3b (up 12% from 3Q 2021). Net loss: JP¥438.0m (down 187% from profit in 3Q 2021). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 2.9%, compared to a 2.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorated over the past week After last week's 23% share price decline to JP¥176, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 16x in the Commercial Services industry in Japan. Total loss to shareholders of 15% over the past three years. Announcement • Nov 30
Sanix Incorporated Provides Earnings Guidance for the Fiscal Year Ended March 31, 2022 Sanix Incorporated provided earnings guidance for the fiscal year ended March 31, 2022. For the period, the company expects net sales of ¥50,318 million. Operating income of ¥1,827 million. Ordinary income of ¥1,621 million. Profit attributable to owners of parent of ¥819 million. Basic earnings per share of ¥17.15. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥270, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 18x in the Commercial Services industry in Japan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥9.04 (vs JP¥15.63 in 2Q 2021) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥12.1b (flat on 2Q 2021). Net income: JP¥432.0m (down 42% from 2Q 2021). Profit margin: 3.6% (down from 6.2% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 25
Sanix Incorporated Provides Earnings Guidance for the Six Months Ended September 30, 2021 and Fiscal Year Ended March 31, 2022 Sanix Incorporated provided earnings guidance for the six months ended September 30, 2021 and fiscal year ended March 31, 2022. For the six months, the company expects consolidated net sales of JPY 23,608 million, operating income of JPY 773 million, net income of JPY 373 million and net income per share of JPY 7.82.
For the fiscal year ending March 31 2022, the company expects consolidated net sales of JPY 49,730 million, operating income of JPY 2,396 million, net income of JPY 1,540 million and net income per share of JPY 32.22. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the next year, revenue is forecast to stay flat compared to a 3.6% growth forecast for the Commercial Services industry in Japan. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥10.56 (vs JP¥8.18 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥11.9b (down 11% from 3Q 2020). Net income: JP¥505.0m (up 29% from 3Q 2020). Profit margin: 4.3% (up from 2.9% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥365, the stock is trading at a trailing P/E ratio of 8.2x, up from the previous P/E ratio of 7x. This compares to an average P/E of 15x in the Commercial Services industry in Japan. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Jan 18
New 90-day high: JP¥328 The company is up 32% from its price of JP¥249 on 20 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: JP¥294 The company is up 17% from its price of JP¥251 on 30 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is down 4.0% over the same period. Announcement • Dec 27
Sanix Incorporated to Report Q3, 2021 Results on Feb 12, 2021 Sanix Incorporated announced that they will report Q3, 2021 results on Feb 12, 2021 Announcement • Oct 01
Sanix Incorporated to Report Q2, 2021 Results on Nov 12, 2020 Sanix Incorporated announced that they will report Q2, 2021 results on Nov 12, 2020 
