Announcement • Jun 10
Shikibo Ltd. to Report Q1, 2027 Results on Aug 07, 2026 Shikibo Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 19
Full year 2026 earnings released: EPS: JP¥74.86 (vs JP¥72.72 in FY 2025) Full year 2026 results: EPS: JP¥74.86 (up from JP¥72.72 in FY 2025). Revenue: JP¥44.6b (up 14% from FY 2025). Net income: JP¥950.0m (up 3.9% from FY 2025). Profit margin: 2.1% (down from 2.3% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 14
Shikibo Ltd., Annual General Meeting, Jun 26, 2026 Shikibo Ltd., Annual General Meeting, Jun 26, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥57.51 (vs JP¥15.64 in 3Q 2025) Third quarter 2026 results: EPS: JP¥57.51 (up from JP¥15.64 in 3Q 2025). Revenue: JP¥9.88b (up 5.4% from 3Q 2025). Net income: JP¥730.0m (up 269% from 3Q 2025). Profit margin: 7.4% (up from 2.1% in 3Q 2025). 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 5% per year, which means it is well ahead of earnings. Declared Dividend • Dec 05
First half dividend of JP¥25.00 announced Dividend of JP¥25.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 4.9%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (33% 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 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥13.39 (vs JP¥9.20 in 2Q 2025) Second quarter 2026 results: EPS: JP¥13.39 (up from JP¥9.20 in 2Q 2025). Revenue: JP¥10.3b (up 7.0% from 2Q 2025). Net income: JP¥170.0m (up 47% from 2Q 2025). Profit margin: 1.7% (up from 1.2% 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 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Nov 13
Shikibo Ltd. to Report Q3, 2026 Results on Feb 12, 2026 Shikibo Ltd. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥13.81 (vs JP¥12.34 in 1Q 2025) First quarter 2026 results: EPS: JP¥13.81 (up from JP¥12.34 in 1Q 2025). Revenue: JP¥9.49b (flat on 1Q 2025). Net income: JP¥175.0m (up 14% from 1Q 2025). Profit margin: 1.8% (up from 1.6% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Aug 09
Shikibo Ltd. to Report Q2, 2026 Results on Nov 11, 2025 Shikibo Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Dividend of JP¥25.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 4th December 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is not covered by earnings (116% earnings payout ratio) and 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 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 29% to bring the payout ratio under control. However, EPS has declined by 4.1% over the last 5 years so the company would need to reverse this trend. Board Change • Jul 01
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. 5 experienced directors. 1 highly experienced director. Independent Director Yasunori Uno was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 25
Shikibo Ltd. (TSE:3109) signed of memorandum of understanding to acquire PT Unitika Trading Indonesia from Unitika Ltd. (TSE:3103). Shikibo Ltd. (TSE:3109) signed of memorandum of understanding to acquire PT Unitika Trading Indonesia from Unitika Ltd. (TSE:3103) on June 25, 2025. In a related transaction, Shikibo Ltd. also signed of memorandum of understanding to acquire Unitika's consolidated subsidiary Unitika Trading Co., Ltd. (UTC), part of the apparel textile business of UTC's subsidiaries UNITIKA (BEIJING) TRAIDING CO., LTD. and UNITIKA TRADING VIETNAM CO., LTD.
The expected completion of the transaction is by end of December 2025. Reported Earnings • May 17
Full year 2025 earnings released: EPS: JP¥72.72 (vs JP¥69.02 in FY 2024) Full year 2025 results: EPS: JP¥72.72 (up from JP¥69.02 in FY 2024). Revenue: JP¥39.1b (up 1.0% from FY 2024). Net income: JP¥914.0m (up 14% from FY 2024). Profit margin: 2.3% (up from 2.1% in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Shikibo Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Shikibo Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Announcement • May 13
Shikibo Ltd., Annual General Meeting, Jun 27, 2025 Shikibo Ltd., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.8%). Announcement • Feb 28
Shikibo Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Shikibo Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥15.64 (vs JP¥9.66 in 3Q 2024) Third quarter 2025 results: EPS: JP¥15.64 (up from JP¥9.66 in 3Q 2024). Revenue: JP¥9.37b (down 3.5% from 3Q 2024). Net income: JP¥198.0m (up 77% from 3Q 2024). Profit margin: 2.1% (up from 1.2% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 05
First half dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (132% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: JP¥9.20 (vs JP¥22.17 in 2Q 2024) Second quarter 2025 results: EPS: JP¥9.20 (down from JP¥22.17 in 2Q 2024). Revenue: JP¥9.62b (down 3.0% from 2Q 2024). Net income: JP¥116.0m (down 55% from 2Q 2024). Profit margin: 1.2% (down from 2.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Nov 14
Shikibo Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Shikibo Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: JP¥15.56 (vs JP¥12.42 in 1Q 2024) First quarter 2025 results: EPS: JP¥15.56 (up from JP¥12.42 in 1Q 2024). Revenue: JP¥9.29b (down 1.5% from 1Q 2024). Net income: JP¥192.0m (up 33% from 1Q 2024). Profit margin: 2.1% (up from 1.5% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
Shikibo Ltd. to Report Q2, 2025 Results on Nov 11, 2024 Shikibo Ltd. announced that they will report Q2, 2025 results on Nov 11, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥973, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 16x in the Luxury industry in Japan. Total returns to shareholders of 20% over the past three years. Announcement • May 25
Shikibo Ltd. to Report Q1, 2025 Results on Aug 08, 2024 Shikibo Ltd. announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥69.02 (vs JP¥135 in FY 2023) Full year 2024 results: EPS: JP¥69.02 (down from JP¥135 in FY 2023). Revenue: JP¥38.7b (up 2.1% from FY 2023). Net income: JP¥800.0m (down 49% from FY 2023). Profit margin: 2.1% (down from 4.1% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Shikibo Ltd., Annual General Meeting, Jun 27, 2024 Shikibo Ltd., Annual General Meeting, Jun 27, 2024. New Risk • May 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.6% 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 Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Shareholders have been diluted in the past year (8.6% increase in shares outstanding). Market cap is less than US$100m (JP¥13.1b market cap, or US$84.5m). Buy Or Sell Opportunity • Apr 02
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,105. The fair value is estimated to be JP¥1,389, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 65%. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.7%). Announcement • Mar 02
Shikibo Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Shikibo Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥9.66 (vs JP¥44.69 in 3Q 2023) Third quarter 2024 results: EPS: JP¥9.66 (down from JP¥44.69 in 3Q 2023). Revenue: JP¥9.71b (down 2.4% from 3Q 2023). Net income: JP¥112.0m (down 78% from 3Q 2023). Profit margin: 1.2% (down from 5.2% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
Shikibo Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Shikibo Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥22.17 (vs JP¥19.58 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.17 (up from JP¥19.58 in 2Q 2023). Revenue: JP¥9.92b (flat on 2Q 2023). Net income: JP¥257.0m (up 13% from 2Q 2023). Profit margin: 2.6% (up from 2.3% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
Shikibo Ltd. to Report Q2, 2024 Results on Nov 09, 2023 Shikibo Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥12.42 (vs JP¥46.62 in 1Q 2023) First quarter 2024 results: EPS: JP¥12.42 (down from JP¥46.62 in 1Q 2023). Revenue: JP¥9.43b (up 9.6% from 1Q 2023). Net income: JP¥144.0m (down 73% from 1Q 2023). Profit margin: 1.5% (down from 6.3% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Jun 15
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Yasunori Uno 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. Announcement • Jun 09
Shikibo Ltd. to Report Q1, 2024 Results on Aug 08, 2023 Shikibo Ltd. announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥135 (vs JP¥4.37 in FY 2022) Full year 2023 results: EPS: JP¥135 (up from JP¥4.37 in FY 2022). Revenue: JP¥37.9b (up 6.2% from FY 2022). Net income: JP¥1.57b (up JP¥1.52b from FY 2022). Profit margin: 4.1% (up from 0.1% in FY 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 12
Shikibo Ltd., Annual General Meeting, Jun 29, 2023 Shikibo Ltd., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥44.69 (vs JP¥35.46 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥44.69 (up from JP¥35.46 loss in 3Q 2022). Revenue: JP¥9.95b (up 4.1% from 3Q 2022). Net income: JP¥518.0m (up JP¥921.0m from 3Q 2022). Profit margin: 5.2% (up from net loss in 3Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Shikibo Ltd. to Report Q3, 2022 Results on Feb 08, 2023 Shikibo Ltd. announced that they will report Q3, 2022 results on Feb 08, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: JP¥19.58 (vs JP¥25.46 in 2Q 2022) Second quarter 2023 results: EPS: JP¥19.58 (down from JP¥25.46 in 2Q 2022). Revenue: JP¥9.90b (up 17% from 2Q 2022). Net income: JP¥227.0m (down 21% from 2Q 2022). Profit margin: 2.3% (down from 3.4% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥19.58 (vs JP¥25.46 in 2Q 2022) Second quarter 2023 results: EPS: JP¥19.58 (down from JP¥25.46 in 2Q 2022). Revenue: JP¥9.90b (up 17% from 2Q 2022). Net income: JP¥227.0m (down 21% from 2Q 2022). Profit margin: 2.3% (down from 3.4% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be JP¥1,130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Aug 28
Shikibo Ltd. to Report Q2, 2023 Results on Nov 09, 2022 Shikibo Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥46.62 (vs JP¥10.75 in 1Q 2022) First quarter 2023 results: EPS: JP¥46.62 (up from JP¥10.75 in 1Q 2022). Revenue: JP¥8.60b (flat on 1Q 2022). Net income: JP¥540.0m (up 366% from 1Q 2022). Profit margin: 6.3% (up from 1.3% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Shikibo Ltd. to Report Q1, 2023 Results on Aug 09, 2022 Shikibo Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥4.37 (vs JP¥0.83 in FY 2021) Full year 2022 results: EPS: JP¥4.37 (up from JP¥0.83 in FY 2021). Revenue: JP¥35.7b (up 6.4% from FY 2021). Net income: JP¥49.0m (up 444% from FY 2021). Profit margin: 0.1% (up from 0% in FY 2021). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 14
Shikibo Ltd., Annual General Meeting, Jun 29, 2022 Shikibo Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent 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. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Morito Hata was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 07
Shikibo Ltd. to Report Fiscal Year 2022 Results on May 12, 2022 Shikibo Ltd. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: JP¥35.46 loss per share (down from JP¥25.40 profit in 3Q 2021). Revenue: JP¥9.55b (up 8.2% from 3Q 2021). Net loss: JP¥403.0m (down 247% from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥25.46 (vs JP¥6.95 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥8.49b (up 9.1% from 2Q 2021). Net income: JP¥288.0m (up 284% from 2Q 2021). Profit margin: 3.4% (up from 1.0% 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 fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.9%). Is New 90 Day High Low • Feb 19
New 90-day low: JP¥1,001 The company is down 8.0% from its price of JP¥1,083 on 20 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 7.0% over the same period. Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS JP¥25.40 (vs JP¥26.33 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: JP¥8.83b (down 9.7% from 3Q 2020). Net income: JP¥274.0m (down 3.5% from 3Q 2020). Profit margin: 3.1% (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 fallen by 35% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Dec 30
Shikibo Ltd. to Report Q3, 2021 Results on Feb 09, 2021 Shikibo Ltd. announced that they will report Q3, 2021 results on Feb 09, 2021