Reported Earnings • Aug 08
Second quarter 2026 earnings released: EPS: JP¥31.23 (vs JP¥48.14 in 2Q 2025) Second quarter 2026 results: EPS: JP¥31.23 (down from JP¥48.14 in 2Q 2025). Revenue: JP¥5.10b (up 10% from 2Q 2025). Net income: JP¥275.0m (down 35% from 2Q 2025). Profit margin: 5.4% (down from 9.1% in 2Q 2025). The decrease in margin was driven by higher expenses. 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 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 09
Endo Manufacturing Co., Ltd. to Report Q2, 2026 Results on Aug 06, 2026 Endo Manufacturing Co., Ltd. announced that they will report Q2, 2026 results on Aug 06, 2026 Reported Earnings • May 09
First quarter 2026 earnings released: EPS: JP¥12.40 (vs JP¥15.39 in 1Q 2025) First quarter 2026 results: EPS: JP¥12.40 (down from JP¥15.39 in 1Q 2025). Revenue: JP¥4.99b (up 8.7% from 1Q 2025). Net income: JP¥109.0m (down 19% from 1Q 2025). Profit margin: 2.2% (down from 2.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 08
Endo Manufacturing Co., Ltd. to Report Q1, 2026 Results on May 08, 2026 Endo Manufacturing Co., Ltd. announced that they will report Q1, 2026 results on May 08, 2026 New Risk • Feb 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (JP¥10.7b market cap, or US$69.7m). Reported Earnings • Feb 16
Full year 2025 earnings released: EPS: JP¥68.31 (vs JP¥128 in FY 2024) Full year 2025 results: EPS: JP¥68.31 (down from JP¥128 in FY 2024). Revenue: JP¥18.2b (up 4.7% from FY 2024). Net income: JP¥600.0m (down 46% from FY 2024). Profit margin: 3.3% (down from 6.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year. Announcement • Feb 13
Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 25, 2026 Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 25, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. Payout ratio is a comfortable 46% 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 (2.2%). Announcement • Dec 11
Endo Manufacturing Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026 Endo Manufacturing Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026 New Risk • Nov 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 7.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (4.3% net profit margin). Market cap is less than US$100m (JP¥10.5b market cap, or US$68.6m). Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: JP¥8.87 (vs JP¥29.02 in 3Q 2024) Third quarter 2025 results: EPS: JP¥8.87 (down from JP¥29.02 in 3Q 2024). Revenue: JP¥4.43b (down 3.4% from 3Q 2024). Net income: JP¥78.0m (down 69% from 3Q 2024). Profit margin: 1.8% (down from 5.5% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 10
Endo Manufacturing Co., Ltd. to Report Q3, 2025 Results on Nov 06, 2025 Endo Manufacturing Co., Ltd. announced that they will report Q3, 2025 results on Nov 06, 2025 Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: JP¥48.14 (vs JP¥43.18 in 2Q 2024) Second quarter 2025 results: EPS: JP¥48.14 (up from JP¥43.18 in 2Q 2024). Revenue: JP¥4.63b (up 8.5% from 2Q 2024). Net income: JP¥423.0m (up 12% from 2Q 2024). Profit margin: 9.1% (up from 8.9% in 2Q 2024). The increase in margin was driven by higher revenue. 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 13% per year, which means it is well ahead of earnings. Announcement • May 31
Endo Manufacturing Co., Ltd. to Report Q2, 2025 Results on Aug 07, 2025 Endo Manufacturing Co., Ltd. announced that they will report Q2, 2025 results on Aug 07, 2025 Reported Earnings • May 09
First quarter 2025 earnings released: EPS: JP¥15.39 (vs JP¥40.44 in 1Q 2024) First quarter 2025 results: EPS: JP¥15.39 (down from JP¥40.44 in 1Q 2024). Revenue: JP¥4.59b (up 6.1% from 1Q 2024). Net income: JP¥135.0m (down 62% from 1Q 2024). Profit margin: 2.9% (down from 8.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 28
Now 20% overvalued Over the last 90 days, the stock has fallen 8.0% to JP¥1,196. The fair value is estimated to be JP¥996, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 26%. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued Over the last 90 days, the stock has fallen 5.6% to JP¥1,196. The fair value is estimated to be JP¥989, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 26%. New Risk • Apr 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 5.8% 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 Dividend is not well covered by cash flows (99% cash payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (JP¥9.31b market cap, or US$63.6m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,061, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 13x in the Leisure industry in Japan. Total returns to shareholders of 89% over the past three years. Announcement • Mar 14
Endo Manufacturing Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Endo Manufacturing Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 New Risk • Feb 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 99% Dividend yield: 3.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (99% cash payout ratio). Market cap is less than US$100m (JP¥11.2b market cap, or US$73.4m). Announcement • Feb 17
Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 27, 2025 Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 27, 2025. Reported Earnings • Feb 16
Full year 2024 earnings released: EPS: JP¥128 (vs JP¥87.06 in FY 2023) Full year 2024 results: EPS: JP¥128 (up from JP¥87.06 in FY 2023). Revenue: JP¥17.4b (up 11% from FY 2023). Net income: JP¥1.12b (up 47% from FY 2023). Profit margin: 6.4% (up from 4.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 27 March 2025. Payout ratio is a comfortable 14% and the cash payout ratio is 86%. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Announcement • Dec 17
Endo Manufacturing Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025 Endo Manufacturing Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025 Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: JP¥29.02 (vs JP¥1.03 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.02 (up from JP¥1.03 loss in 3Q 2023). Revenue: JP¥4.59b (up 25% from 3Q 2023). Net income: JP¥254.0m (up JP¥263.0m from 3Q 2023). Profit margin: 5.5% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Sep 10
Endo Manufacturing Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 Endo Manufacturing Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: JP¥43.18 (vs JP¥32.45 in 2Q 2023) Second quarter 2024 results: EPS: JP¥43.18 (up from JP¥32.45 in 2Q 2023). Revenue: JP¥4.27b (up 7.2% from 2Q 2023). Net income: JP¥378.0m (up 33% from 2Q 2023). Profit margin: 8.9% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Aug 02
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 7.5% 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 (7.5% average weekly change). Minor Risk Market cap is less than US$100m (JP¥9.85b market cap, or US$66.2m). Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,125, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 12x in the Leisure industry in Japan. Total returns to shareholders of 62% over the past three years. Announcement • Jun 14
Endo Manufacturing Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 Endo Manufacturing Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: JP¥40.44 (vs JP¥21.60 in 1Q 2023) First quarter 2024 results: EPS: JP¥40.44 (up from JP¥21.60 in 1Q 2023). Revenue: JP¥4.33b (up 11% from 1Q 2023). Net income: JP¥354.0m (up 87% from 1Q 2023). Profit margin: 8.2% (up from 4.9% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: JP¥87.06 (vs JP¥90.97 in FY 2022) Full year 2023 results: EPS: JP¥87.06 (down from JP¥90.97 in FY 2022). Revenue: JP¥15.7b (up 7.7% from FY 2022). Net income: JP¥762.0m (down 4.3% from FY 2022). Profit margin: 4.9% (down from 5.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Mar 14
Endo Manufacturing Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Endo Manufacturing Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: JP¥87.06 (vs JP¥90.97 in FY 2022) Full year 2023 results: EPS: JP¥87.06 (down from JP¥90.97 in FY 2022). Revenue: JP¥15.7b (up 7.7% from FY 2022). Net income: JP¥762.0m (down 4.3% from FY 2022). Profit margin: 4.9% (down from 5.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Feb 16
Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 26, 2024 Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 26, 2024. New Risk • Feb 16
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 7.9% 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 (7.9% average weekly change). Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (JP¥7.19b market cap, or US$47.9m). Upcoming Dividend • Dec 21
Upcoming dividend of JP¥20.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 March 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (JP¥9.18b market cap, or US$62.8m). Announcement • Dec 07
Endo Manufacturing Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024 Endo Manufacturing Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 11
Third quarter 2023 earnings released: JP¥1.03 loss per share (vs JP¥36.23 profit in 3Q 2022) Third quarter 2023 results: JP¥1.03 loss per share (down from JP¥36.23 profit in 3Q 2022). Revenue: JP¥3.68b (down 4.3% from 3Q 2022). Net loss: JP¥9.00m (down 103% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 13
Endo Manufacturing Co., Ltd. to Report Q3, 2023 Results on Nov 08, 2023 Endo Manufacturing Co., Ltd. announced that they will report Q3, 2023 results on Nov 08, 2023 Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: JP¥32.45 (vs JP¥42.17 in 2Q 2022) Second quarter 2023 results: EPS: JP¥32.45 (down from JP¥42.17 in 2Q 2022). Revenue: JP¥3.98b (up 12% from 2Q 2022). Net income: JP¥284.0m (down 23% from 2Q 2022). Profit margin: 7.1% (down from 10% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jun 07
Endo Manufacturing Co., Ltd. to Report Q2, 2023 Results on Aug 04, 2023 Endo Manufacturing Co., Ltd. announced that they will report Q2, 2023 results on Aug 04, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: JP¥21.60 (vs JP¥68.01 in 1Q 2022) First quarter 2023 results: EPS: JP¥21.60 (down from JP¥68.01 in 1Q 2022). Revenue: JP¥3.89b (up 12% from 1Q 2022). Net income: JP¥189.0m (down 68% from 1Q 2022). Profit margin: 4.9% (down from 17% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: JP¥90.97 (vs JP¥183 in FY 2021) Full year 2022 results: EPS: JP¥90.97 (down from JP¥183 in FY 2021). Revenue: JP¥14.6b (up 16% from FY 2021). Net income: JP¥796.0m (down 50% from FY 2021). Profit margin: 5.5% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: JP¥90.97 (vs JP¥183 in FY 2021) Full year 2022 results: EPS: JP¥90.97 (down from JP¥183 in FY 2021). Revenue: JP¥14.6b (up 16% from FY 2021). Net income: JP¥796.0m (down 50% from FY 2021). Profit margin: 5.5% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 28 March 2023. Payout ratio is a comfortable 9.9% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.3%). Announcement • Dec 06
Endo Manufacturing Co., Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023 Endo Manufacturing Co., Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023 Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: JP¥36.23 (vs JP¥35.90 in 3Q 2021) Third quarter 2022 results: EPS: JP¥36.23 (up from JP¥35.90 in 3Q 2021). Revenue: JP¥3.85b (up 20% from 3Q 2021). Net income: JP¥317.0m (up 1.0% from 3Q 2021). Profit margin: 8.2% (down from 9.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging 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. 3 highly experienced directors. No independent directors (5 non-independent directors). General Manager of Golf Division and Director Masaei Tsurumaki 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. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: JP¥36.23 (vs JP¥35.90 in 3Q 2021) Third quarter 2022 results: EPS: JP¥36.23 (up from JP¥35.90 in 3Q 2021). Revenue: JP¥3.85b (up 20% from 3Q 2021). Net income: JP¥317.0m (up 1.0% from 3Q 2021). Profit margin: 8.2% (down from 9.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Sep 14
Endo Manufacturing Co., Ltd. to Report Q3, 2022 Results on Nov 08, 2022 Endo Manufacturing Co., Ltd. announced that they will report Q3, 2022 results on Nov 08, 2022 Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: JP¥42.17 (vs JP¥31.67 in 2Q 2021) Second quarter 2022 results: EPS: JP¥42.17 (up from JP¥31.67 in 2Q 2021). Revenue: JP¥3.54b (up 14% from 2Q 2021). Net income: JP¥369.0m (up 33% from 2Q 2021). Profit margin: 10% (up from 8.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Endo Manufacturing Co., Ltd. to Report Q2, 2022 Results on Aug 05, 2022 Endo Manufacturing Co., Ltd. announced that they will report Q2, 2022 results on Aug 05, 2022 Reported Earnings • May 11
First quarter 2022 earnings released: EPS: JP¥68.01 (vs JP¥43.90 in 1Q 2021) First quarter 2022 results: EPS: JP¥68.01 (up from JP¥43.90 in 1Q 2021). Revenue: JP¥3.48b (up 13% from 1Q 2021). Net income: JP¥595.0m (up 55% from 1Q 2021). Profit margin: 17% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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. 5 experienced directors. 3 highly experienced directors. No independent directors (5 non-independent directors). General Manager of Golf Division and Director Masaei Tsurumaki 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
Endo Manufacturing Co., Ltd. to Report Q1, 2022 Results on May 10, 2022 Endo Manufacturing Co., Ltd. announced that they will report Q1, 2022 results on May 10, 2022 Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥183 (up from JP¥10.06 loss in FY 2020). Revenue: JP¥12.6b (up 52% from FY 2020). Net income: JP¥1.60b (up JP¥1.69b from FY 2020). Profit margin: 13% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥645, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 13x in the Leisure industry in Japan. Total returns to shareholders of 22% over the past three years. Announcement • Feb 16
Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 25, 2022 Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 25, 2022. Buying Opportunity • Feb 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be JP¥951, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.4% per annum over the last 3 years. The company has become profitable over the last year. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 9.9% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Upcoming Dividend • Dec 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 9.9% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥35.90 (vs JP¥19.43 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥3.21b (up 39% from 3Q 2020). Net income: JP¥314.0m (up 85% from 3Q 2020). Profit margin: 9.8% (up from 7.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS JP¥31.67 (vs JP¥25.96 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥3.11b (up 132% from 2Q 2020). Net income: JP¥277.0m (up JP¥504.0m from 2Q 2020). Profit margin: 8.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorated over the past week After last week's 19% share price decline to JP¥647, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 22x in the Leisure industry in Japan. Total loss to shareholders of 3.3% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS JP¥43.90 (vs JP¥13.17 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥3.07b (up 41% from 1Q 2020). Net income: JP¥384.0m (up JP¥499.0m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Announcement • Mar 20
Endo Manufacturing Co., Ltd. to Report Q1, 2021 Results on May 11, 2021 Endo Manufacturing Co., Ltd. announced that they will report Q1, 2021 results on May 11, 2021 Announcement • Feb 16
Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 26, 2021 Endo Manufacturing Co., Ltd., Annual General Meeting, Mar 26, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: JP¥10.06 loss per share (vs JP¥30.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: JP¥8.28b (down 15% from FY 2019). Net loss: JP¥88.0m (down 133% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 76% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 29
New 90-day high: JP¥519 The company is up 24% from its price of JP¥420 on 30 October 2020. The Japanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: JP¥515 The company is up 17% from its price of JP¥440 on 30 September 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is up 15% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥12.00 Per Share Will be paid on the 30th of March to those who are registered shareholders by the 29th of December. The trailing yield of 2.4% is below the top quartile of Japanese dividend payers (3.0%), but it is higher than industry peers (1.3%). Is New 90 Day High Low • Dec 07
New 90-day high: JP¥505 The company is up 21% from its price of JP¥418 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Leisure industry, which is up 27% over the same period. Announcement • Dec 05
Endo Manufacturing Co., Ltd. to Report Fiscal Year 2020 Results on Feb 12, 2021 Endo Manufacturing Co., Ltd. announced that they will report fiscal year 2020 results on Feb 12, 2021 Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS JP¥19.43 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: JP¥2.31b (down 6.6% from 3Q 2019). Net income: JP¥170.0m (up 118% from 3Q 2019). Profit margin: 7.4% (up from 3.2% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 06
New 90-day high: JP¥451 The company is up 5.0% from its price of JP¥431 on 07 August 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 12% over the same period. Announcement • Oct 10
Endo Manufacturing Co., Ltd. to Report Q3, 2020 Results on Nov 10, 2020 Endo Manufacturing Co., Ltd. announced that they will report Q3, 2020 results on Nov 10, 2020 Reported Earnings • Sep 29
First half earnings released Over the last 12 months the company has reported total losses of JP¥178.0m, with earnings decreasing by JP¥654.1m from the prior year. Total revenue was JP¥8.17b over the last 12 months, down 27% from the prior year.