Announcement • Jun 24
Goldwin Inc. Announces Committee Changes, Effective June 24, 2026 Goldwin Inc. passed a resolution at the Board of Directors meeting to replace the members of the Special Committee established pursuant to its 'Measures Using Stock Acquisition Rights to Ensure and Enhance the Company’s Corporate Value and, in turn, the Common Interests of Shareholders,' which was renewed and approved at the 73rd Annual General Meeting of Shareholders held on June 26, 2024. Keiko Hata was newly appointed as a Special Committee member and Outside Auditor. Keiko Hata's career summary includes: Managing Executive Officer, Warehouse TERRADA (July 2015); Representative Director and CEO of Human Optimization Platform Inc. (current position, November 2018); Director, CHRO, and CCO, Farmship Inc. (September 2020); Outside Director and Audit & Supervisory Committee Member of Vario Secure Inc. (current position, May 2024). Hidenao Yoichi departed as a Special Committee member and Outside Auditor. The reason for this change was the appointment of Keiko Hata as Outside Auditor. The inauguration date was June 24, 2026. Live News • May 27
Goldwin Targets China Growth With Shanghai Flagship and 70 Store Expansion Plan Goldwin has opened a new flagship store in Shanghai’s high-end Plaza 66 mall, positioning its brand in a premium shopping location.
The company is targeting around six new store openings in China each year as it builds out its retail network.
Management is aiming for a China store network of roughly 70 locations and has returned its China business to profitability for fiscal 2026, with expectations for significant China sales growth through 2033.
This expansion plan places China at the center of Goldwin’s long-term growth ambitions. The Plaza 66 flagship serves as a showcase for its “quiet luxury” sportswear positioning.
For investors, the key variables to monitor are execution on the planned store rollout, the profitability of new locations, and how consumer demand in China supports the company’s higher-end brand strategy. Reported Earnings • May 14
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: JP¥176 (down from JP¥182 in FY 2025). Revenue: JP¥137.5b (up 3.9% from FY 2025). Net income: JP¥24.1b (down 1.4% from FY 2025). Profit margin: 18% (down from 19% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • May 13
Goldwin Inc., Annual General Meeting, Jun 24, 2026 Goldwin Inc., Annual General Meeting, Jun 24, 2026. Announcement • May 09
Goldwin Inc. to Report Fiscal Year 2026 Results on May 13, 2026 Goldwin Inc. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥29.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 10 June 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Buy Or Sell Opportunity • Feb 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to JP¥2,420. The fair value is estimated to be JP¥3,026, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 8.6% per annum over the same time period. Price Target Changed • Feb 10
Price target decreased by 7.2% to JP¥3,317 Down from JP¥3,575, the current price target is an average from 6 analysts. New target price is 32% above last closing price of JP¥2,522. Stock is down 2.8% over the past year. The company is forecast to post earnings per share of JP¥179 for next year compared to JP¥182 last year. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥61.59 (vs JP¥73.24 in 3Q 2025) Third quarter 2026 results: EPS: JP¥61.59 (down from JP¥73.24 in 3Q 2025). Revenue: JP¥43.9b (up 1.0% from 3Q 2025). Net income: JP¥8.45b (down 14% from 3Q 2025). Profit margin: 19% (down from 23% in 3Q 2025). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to JP¥2,465. The fair value is estimated to be JP¥3,158, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 8.3%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 7.1% per annum over the same time period. Buy Or Sell Opportunity • Jan 20
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥2,603. The fair value is estimated to be JP¥3,272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 8.3%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 6.9% per annum over the same time period. Buy Or Sell Opportunity • Dec 24
Now 21% undervalued Over the last 90 days, the stock has risen 2.9% to JP¥2,577. The fair value is estimated to be JP¥3,244, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 6.9% per annum over the same time period. Announcement • Dec 02
Goldwin Inc. to Report Q3, 2026 Results on Feb 05, 2026 Goldwin Inc. announced that they will report Q3, 2026 results on Feb 05, 2026 Declared Dividend • Dec 02
First half dividend of JP¥29.00 announced Shareholders will receive a dividend of JP¥29.00. Ex-date: 30th March 2026 Payment date: 10th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.5% over the next 3 years. However, it would need to fall by 83% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 08
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥31.7b (up 10% from 2Q 2025). Net income: JP¥3.61b (down 14% from 2Q 2025). Profit margin: 11% (down from 15% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,958, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Luxury industry in Japan. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,379 per share. Announcement • Nov 06
Goldwin Inc. (TSE:8111) announces an Equity Buyback for 1,200,000 shares, representing 0.87% for ¥2,500 million. Goldwin Inc. (TSE:8111) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 0.87% of its share capital, for ¥2,500 million. The company will repurchase its shares in order to improve capital efficiency, enhance shareholder returns and implement a flexible capital policy. The program is valid till January 30, 2026. As of September 30, 2025, the company had 138,091,341 shares outstanding (excluding treasury shares) and 4,253,175 shares in treasury. Announcement • Sep 27
Goldwin Inc. to Report Q2, 2026 Results on Nov 06, 2025 Goldwin Inc. announced that they will report Q2, 2026 results on Nov 06, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥87.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥69.99 (vs JP¥81.46 in 1Q 2025) First quarter 2026 results: EPS: JP¥69.99 (down from JP¥81.46 in 1Q 2025). Revenue: JP¥23.9b (down 2.9% from 1Q 2025). Net income: JP¥3.19b (down 13% from 1Q 2025). Profit margin: 13% (down from 15% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Jul 26
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Outside Independent Director Akira Tsuchiya was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥546 (up from JP¥539 in FY 2024). Revenue: JP¥132.3b (up 4.3% from FY 2024). Net income: JP¥24.4b (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 27
Goldwin Inc. to Report Q1, 2026 Results on Aug 06, 2025 Goldwin Inc. announced that they will report Q1, 2026 results on Aug 06, 2025 Buy Or Sell Opportunity • Jun 13
Now 23% undervalued Over the last 90 days, the stock has risen 11% to JP¥8,214. The fair value is estimated to be JP¥10,600, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 5.4% per annum over the same time period. Reported Earnings • May 17
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥546 (up from JP¥539 in FY 2024). Revenue: JP¥132.3b (up 4.3% from FY 2024). Net income: JP¥24.4b (flat on FY 2024). Profit margin: 19% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 15
Now 22% undervalued Over the last 90 days, the stock has risen 12% to JP¥8,540. The fair value is estimated to be JP¥10,895, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 5.1% per annum over the same time period. Announcement • May 14
Goldwin Inc., Annual General Meeting, Jun 25, 2025 Goldwin Inc., Annual General Meeting, Jun 25, 2025. Announcement • Apr 05
Goldwin Inc. to Report Fiscal Year 2025 Results on May 14, 2025 Goldwin Inc. announced that they will report fiscal year 2025 results at 12:00 PM, Tokyo Standard Time on May 14, 2025 Announcement • Apr 03
Goldwin Inc. (TSE:8111) agreed to acquire 99.50% stake in Alpine Tour Service Co., Ltd. Goldwin Inc. (TSE:8111) agreed to acquire 99.50% stake in Alpine Tour Service Co., Ltd. on April 1, 2025. Price Target Changed • Apr 02
Price target decreased by 7.5% to JP¥10,914 Down from JP¥11,796, the current price target is an average from 7 analysts. New target price is 34% above last closing price of JP¥8,160. Stock is down 13% over the past year. The company posted earnings per share of JP¥539 last year. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥8,561, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Luxury industry in Japan. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥10,829 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥123 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 11 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 07
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: JP¥220 (down from JP¥227 in 3Q 2024). Revenue: JP¥43.5b (flat on 3Q 2024). Net income: JP¥9.83b (down 4.1% from 3Q 2024). Profit margin: 23% (in line with 3Q 2024). Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Dec 04
Goldwin Inc. to Report Q3, 2025 Results on Feb 06, 2025 Goldwin Inc. announced that they will report Q3, 2025 results on Feb 06, 2025 Declared Dividend • Dec 03
First half dividend of JP¥123 announced Shareholders will receive a dividend of JP¥123. Ex-date: 28th March 2025 Payment date: 11th June 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥93.46 (vs JP¥88.18 in 2Q 2024) Second quarter 2025 results: EPS: JP¥93.46 (up from JP¥88.18 in 2Q 2024). Revenue: JP¥28.8b (up 2.9% from 2Q 2024). Net income: JP¥4.21b (up 5.8% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 07
Goldwin Inc. (TSE:8111) announces an Equity Buyback for 710,000 shares, representing 1.52% for ¥7,000 million. Goldwin Inc. (TSE:8111) announces a share repurchase program. Under the program, the company will repurchase up to 710,000 shares, representing 1.52% of its share capital, for ¥7,000 million. The company will repurchase its shares in order to enhance shareholder returns, improve capital efficiency, and implement a flexible capital policy. The program is valid till March 31, 2025. As of September 30, 2024, the company had 46,735,278 shares outstanding (excluding treasury shares) and 712,894 shares in treasury. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.7%). Announcement • Sep 03
Goldwin Inc. to Report Q2, 2025 Results on Nov 07, 2024 Goldwin Inc. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥81.46 (vs JP¥74.29 in 1Q 2024) First quarter 2025 results: EPS: JP¥81.46 (up from JP¥74.29 in 1Q 2024). Revenue: JP¥24.6b (up 6.3% from 1Q 2024). Net income: JP¥3.66b (up 9.4% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥7,858, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Luxury industry in Japan. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥11,898 per share. Announcement • Jul 21
Goldwin Inc. to Report Q1, 2025 Results on Aug 06, 2024 Goldwin Inc. announced that they will report Q1, 2025 results on Aug 06, 2024 Declared Dividend • Jul 11
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 1.9%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 34% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥539 (up from JP¥466 in FY 2023). Revenue: JP¥126.9b (up 10% from FY 2023). Net income: JP¥24.3b (up 16% from FY 2023). Profit margin: 19% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.0%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Goldwin Inc., Annual General Meeting, Jun 26, 2024 Goldwin Inc., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥85.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: JP¥227 (vs JP¥231 in 3Q 2023) Third quarter 2024 results: EPS: JP¥227 (down from JP¥231 in 3Q 2023). Revenue: JP¥43.7b (up 5.5% from 3Q 2023). Net income: JP¥10.3b (down 1.7% from 3Q 2023). Profit margin: 23% (down from 25% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
Goldwin Inc. (TSE:8111) announces an Equity Buyback for 220,000 shares, for ¥2,322.1 million. Goldwin Inc. (TSE:8111) announces a share repurchase program. Under the program, the company will repurchase up to 220,000 shares, representing 0.47% of its share capital, at ¥10,555 per share for ¥2,322.1 million. The company will repurchase its shares in order to enhance shareholder returns, improve capital efficiency, and implement a flexible capital policy which responds to changes in the business environment. As of September 30, 2023, the company had 46,523,290 shares outstanding (excluding treasury shares) and 924,882 shares in treasury. Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: JP¥88.18 (vs JP¥71.99 in 2Q 2023) Second quarter 2024 results: EPS: JP¥88.18 (up from JP¥71.99 in 2Q 2023). Revenue: JP¥27.9b (up 15% from 2Q 2023). Net income: JP¥3.98b (up 23% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Luxury industry in Japan. 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 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥11,075, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Luxury industry in Japan. Total returns to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,319 per share. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥30.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.8%). New Risk • Aug 05
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 5.3% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥74.29 (vs JP¥57.72 in 1Q 2023) First quarter 2024 results: EPS: JP¥74.29 (up from JP¥57.72 in 1Q 2023). Revenue: JP¥23.2b (up 9.7% from 1Q 2023). Net income: JP¥3.35b (up 29% from 1Q 2023). Profit margin: 14% (up from 12% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Luxury industry in Japan. 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 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥466 (up from JP¥316 in FY 2022). Revenue: JP¥115.1b (up 17% from FY 2022). Net income: JP¥21.0b (up 46% from FY 2022). Profit margin: 18% (up from 15% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.8%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 32% per year. Announcement • May 12
Goldwin Inc., Annual General Meeting, Jun 28, 2023 Goldwin Inc., Annual General Meeting, Jun 28, 2023. Price Target Changed • Mar 28
Price target increased by 8.3% to JP¥13,317 Up from JP¥12,300, the current price target is an average from 6 analysts. New target price is 12% above last closing price of JP¥11,890. Stock is up 85% over the past year. The company is forecast to post earnings per share of JP¥449 for next year compared to JP¥316 last year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.9%). Price Target Changed • Feb 16
Price target increased by 7.3% to JP¥11,967 Up from JP¥11,150, the current price target is an average from 6 analysts. New target price is 11% above last closing price of JP¥10,800. Stock is up 76% over the past year. The company is forecast to post earnings per share of JP¥452 for next year compared to JP¥316 last year.