Buy Or Sell Opportunity • Mar 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to JP¥3,431. The fair value is estimated to be JP¥4,346, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Mar 14
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: JP¥26.65 (down from JP¥47.85 in 1Q 2025). Revenue: JP¥141.6b (up 6.9% from 1Q 2025). Net income: JP¥5.91b (down 44% from 1Q 2025). Profit margin: 4.2% (down from 8.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to JP¥3,791. The fair value is estimated to be JP¥4,831, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Buy Or Sell Opportunity • Jan 21
Now 23% undervalued Over the last 90 days, the stock has risen 1.7% to JP¥3,800. The fair value is estimated to be JP¥4,932, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. New Risk • Jan 20
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. Buy Or Sell Opportunity • Dec 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥3,776. The fair value is estimated to be JP¥4,915, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Price Target Changed • Dec 13
Price target decreased by 96% to JP¥160 Down from JP¥4,367, the current price target is an average from 7 analysts. New target price is 96% below last closing price of JP¥3,655. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of JP¥136 for next year compared to JP¥144 last year. Reported Earnings • Dec 13
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥144 (up from JP¥97.09 in FY 2024). Revenue: JP¥551.7b (up 8.6% from FY 2024). Net income: JP¥31.9b (up 49% from FY 2024). Profit margin: 5.8% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.5%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Retailing 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 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 12
Kobe Bussan Co., Ltd., Annual General Meeting, Jan 29, 2026 Kobe Bussan Co., Ltd., Annual General Meeting, Jan 29, 2026. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 14 January 2026. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.5%). Announcement • Oct 02
Kobe Bussan Co., Ltd. to Report Fiscal Year 2025 Results on Dec 12, 2025 Kobe Bussan Co., Ltd. announced that they will report fiscal year 2025 results on Dec 12, 2025 Reported Earnings • Sep 12
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: JP¥53.88 (up from JP¥11.33 in 3Q 2024). Revenue: JP¥139.2b (up 7.8% from 3Q 2024). Net income: JP¥11.9b (up 377% from 3Q 2024). Profit margin: 8.6% (up from 1.9% in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 67%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Japan. 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 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 03
Kobe Bussan Co., Ltd. to Report Q3, 2025 Results on Sep 11, 2025 Kobe Bussan Co., Ltd. announced that they will report Q3, 2025 results on Sep 11, 2025 Declared Dividend • Jun 14
Dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 30th October 2025 Payment date: 14th January 2026 Dividend yield will be 0.6%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 22%. Cash payout ratio: 28%. Reported Earnings • Jun 13
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: JP¥16.62 (down from JP¥30.89 in 2Q 2024). Revenue: JP¥139.9b (up 10.0% from 2Q 2024). Net income: JP¥3.68b (down 46% from 2Q 2024). Profit margin: 2.6% (down from 5.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥4,064, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 12x in the Consumer Retailing industry in Japan. Total returns to shareholders of 9.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,080 per share. Announcement • Mar 20
Kobe Bussan Co., Ltd. to Report Q2, 2025 Results on Jun 12, 2025 Kobe Bussan Co., Ltd. announced that they will report Q2, 2025 results on Jun 12, 2025 Reported Earnings • Mar 15
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥47.85 (up from JP¥25.03 in 1Q 2024). Revenue: JP¥132.4b (up 9.5% from 1Q 2024). Net income: JP¥10.6b (up 92% from 1Q 2024). Profit margin: 8.0% (up from 4.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.8% to JP¥3,436. The fair value is estimated to be JP¥4,300, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 3.4%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Feb 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.2% to JP¥3,391. The fair value is estimated to be JP¥4,300, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 3.4%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Feb 05
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥97.09 (up from JP¥93.59 in FY 2023). Revenue: JP¥507.9b (up 10.0% from FY 2023). Net income: JP¥21.4b (up 4.3% from FY 2023). Profit margin: 4.2% (down from 4.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.4%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Buy Or Sell Opportunity • Jan 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to JP¥3,425. The fair value is estimated to be JP¥4,312, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 3.4%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Jan 22
Kobe Bussan Co., Ltd. (TSE:3038) agreed to acquire Uehara Foods Industry Co., Ltd. from Adeka Corporation (TSE:4401) for Approximately ¥700 million. Kobe Bussan Co., Ltd. (TSE:3038) agreed to acquire Uehara Foods Industry Co., Ltd. from Adeka Corporation (TSE:4401) for Approximately ¥700 million on January 22, 2025. A cash consideration of ¥700 million will be paid by Kobe Bussan Co., Ltd. As part of consideration, ¥700 million is paid towards common equity of Uehara Foods Industry Co., Ltd.
For the period ending March 31, 2024, Uehara Foods Industry Co., Ltd. reported total revenue of ¥1.56 billion, operating loss of ¥14 million and net loss of ¥16 million. As of March 31, 2024, Uehara Foods Industry Co., Ltd. reported total assets of ¥908 million and net liabilities of ¥590 million.
The expected completion of the transaction is April 1, 2025. Announcement • Jan 18
Kobe Bussan Co., Ltd. to Report Q1, 2025 Results on Mar 14, 2025 Kobe Bussan Co., Ltd. announced that they will report Q1, 2025 results on Mar 14, 2025 Reported Earnings • Dec 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥97.09 (up from JP¥93.59 in FY 2023). Revenue: JP¥507.9b (up 10.0% from FY 2023). Net income: JP¥21.4b (up 4.3% from FY 2023). Profit margin: 4.2% (down from 4.5% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.4%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Dec 13
Kobe Bussan Co., Ltd., Annual General Meeting, Jan 29, 2025 Kobe Bussan Co., Ltd., Annual General Meeting, Jan 29, 2025. Buy Or Sell Opportunity • Dec 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to JP¥3,506. The fair value is estimated to be JP¥4,425, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% 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 14% per annum over the same time period. Buy Or Sell Opportunity • Nov 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥3,527. The fair value is estimated to be JP¥4,425, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 15 January 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.6%). Announcement • Oct 03
Kobe Bussan Co., Ltd. to Report Fiscal Year 2024 Results on Dec 13, 2024 Kobe Bussan Co., Ltd. announced that they will report fiscal year 2024 results on Dec 13, 2024 Reported Earnings • Sep 15
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: JP¥11.33 (down from JP¥29.48 in 3Q 2023). Revenue: JP¥129.2b (up 11% from 3Q 2023). Net income: JP¥2.50b (down 61% from 3Q 2023). Profit margin: 1.9% (down from 5.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.5%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 20
Kobe Bussan Co., Ltd. to Report Q3, 2024 Results on Sep 11, 2024 Kobe Bussan Co., Ltd. announced that they will report Q3, 2024 results on Sep 11, 2024 Reported Earnings • Jun 16
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: JP¥30.89 (down from JP¥35.38 in 2Q 2023). Revenue: JP¥127.2b (up 12% from 2Q 2023). Net income: JP¥6.82b (down 12% from 2Q 2023). Profit margin: 5.4% (down from 6.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.2%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 17
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥25.03 (up from JP¥6.15 in 1Q 2023). Revenue: JP¥120.9b (up 12% from 1Q 2023). Net income: JP¥5.52b (up 310% from 1Q 2023). Profit margin: 4.6% (up from 1.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Feb 03
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥93.59 (down from JP¥95.35 in FY 2022). Revenue: JP¥461.5b (up 14% from FY 2022). Net income: JP¥20.6b (down 1.3% from FY 2022). Profit margin: 4.5% (down from 5.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Announcement • Dec 31
Kobe Bussan Co., Ltd. to Report Q2, 2024 Results on Jun 13, 2024 Kobe Bussan Co., Ltd. announced that they will report Q2, 2024 results on Jun 13, 2024 Announcement • Dec 17
Kobe Bussan Co., Ltd., Annual General Meeting, Jan 30, 2024 Kobe Bussan Co., Ltd., Annual General Meeting, Jan 30, 2024. Reported Earnings • Dec 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥93.59 (down from JP¥95.35 in FY 2022). Revenue: JP¥461.5b (up 14% from FY 2022). Net income: JP¥20.6b (down 1.3% from FY 2022). Profit margin: 4.5% (down from 5.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥22.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 12 January 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.8%). Reported Earnings • Sep 16
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥29.48 (up from JP¥22.40 in 3Q 2022). Revenue: JP¥116.8b (up 15% from 3Q 2022). Net income: JP¥6.48b (up 32% from 3Q 2022). Profit margin: 5.5% (up from 4.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Jun 17
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: JP¥35.38 (up from JP¥27.09 in 2Q 2022). Revenue: JP¥114.0b (up 13% from 2Q 2022). Net income: JP¥7.76b (up 31% from 2Q 2022). Profit margin: 6.8% (up from 5.8% in 2Q 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 45%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Mar 15
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: EPS: JP¥6.15 (down from JP¥23.48 in 1Q 2022). Revenue: JP¥107.9b (up 12% from 1Q 2022). Net income: JP¥1.35b (down 74% from 1Q 2022). Profit margin: 1.2% (down from 5.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 70%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 02
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥95.35 (up from JP¥90.48 in FY 2021). Revenue: JP¥406.8b (up 12% from FY 2021). Net income: JP¥20.8b (up 6.3% from FY 2021). Profit margin: 5.1% (down from 5.4% in FY 2021). 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 6.8% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 21% per year. Announcement • Jan 01
Kobe Bussan Co., Ltd. to Report Q1, 2023 Results on Mar 14, 2023 Kobe Bussan Co., Ltd. announced that they will report Q1, 2023 results on Mar 14, 2023 Announcement • Dec 17
Kobe Bussan Co., Ltd., Annual General Meeting, Jan 27, 2023 Kobe Bussan Co., Ltd., Annual General Meeting, Jan 27, 2023. Reported Earnings • Dec 16
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥95.35 (up from JP¥90.48 in FY 2021). Revenue: JP¥406.8b (up 12% from FY 2021). Net income: JP¥20.8b (up 6.3% from FY 2021). Profit margin: 5.1% (down from 5.4% in FY 2021). 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 7.0% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Consumer Retailing industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. No independent directors (9 non-independent directors). President and Representative Director Hirokazu Numata was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 30 January 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.6%). Reported Earnings • Sep 14
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥22.40 (up from JP¥21.94 in 3Q 2021). Revenue: JP¥101.9b (up 12% from 3Q 2021). Net income: JP¥4.90b (up 3.1% from 3Q 2021). Profit margin: 4.8% (down from 5.2% in 3Q 2021). 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 8.1% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Consumer Retailing 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 increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 14
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: JP¥27.09 (up from JP¥25.60 in 2Q 2021). Revenue: JP¥101.4b (up 11% from 2Q 2021). Net income: JP¥5.92b (up 6.9% from 2Q 2021). Profit margin: 5.8% (down from 6.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Over the next year, revenue is forecast to grow 10%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of 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. 7 highly experienced directors. No independent directors (9 non-independent directors). President and Representative Director Hirokazu Numata was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 7.7%. The fair value is estimated to be JP¥4,745, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Mar 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be JP¥4,746, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% per annum over the last 3 years. Earnings per share has grown by 22% per annum over the last 3 years. Reported Earnings • Mar 15
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: JP¥23.48 (up from JP¥21.29 in 1Q 2021). Revenue: JP¥96.8b (up 14% from 1Q 2021). Net income: JP¥5.12b (up 11% from 1Q 2021). Profit margin: 5.3% (down from 5.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 8.6%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Mar 08
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥4,849, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% per annum over the last 3 years. Earnings per share has grown by 21% per annum over the last 3 years. Reported Earnings • Feb 03
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: JP¥90.48 (up from JP¥69.86 in FY 2020). Revenue: JP¥362.1b (up 6.2% from FY 2020). Net income: JP¥19.6b (up 30% from FY 2020). Profit margin: 5.4% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 10%, compared to a 14% growth forecast for the retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jan 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.6%. The fair value is estimated to be JP¥4,817, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% per annum over the last 3 years. Earnings per share has grown by 21% per annum over the last 3 years. Reported Earnings • Dec 17
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: JP¥90.48 (up from JP¥69.86 in FY 2020). Revenue: JP¥362.1b (up 6.2% from FY 2020). Net income: JP¥19.6b (up 30% from FY 2020). Profit margin: 5.4% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 9.3%, compared to a 27% growth forecast for the retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 29 January 2022. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.5%). Reported Earnings • Sep 15
Third quarter 2021 earnings released: EPS JP¥21.94 (vs JP¥19.07 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥90.9b (up 9.2% from 3Q 2020). Net income: JP¥4.75b (up 16% from 3Q 2020). Profit margin: 5.2% (up from 4.9% 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 20% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 16
Second quarter 2021 earnings released: EPS JP¥25.60 (vs JP¥18.52 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥91.4b (down 3.3% from 2Q 2020). Net income: JP¥5.54b (up 39% from 2Q 2020). Profit margin: 6.1% (up from 4.2% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 16
First quarter 2021 earnings released: EPS JP¥21.29 (vs JP¥16.55 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥85.0b (up 4.2% from 1Q 2020). Net income: JP¥4.60b (up 29% from 1Q 2020). Profit margin: 5.4% (up from 4.4% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 24
New 90-day low: JP¥2,821 The company is down 18% from its price of JP¥3,455 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,340 per share. Reported Earnings • Feb 02
Full year 2020 earnings released: EPS JP¥140 (vs JP¥56.33 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥340.9b (up 14% from FY 2019). Net income: JP¥15.0b (up 25% from FY 2019). Profit margin: 4.4% (up from 4.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 3.1%, compared to a 8.4% growth forecast for the Consumer Retailing industry in Japan. Reported Earnings • Dec 16
Full year 2020 earnings released: EPS JP¥140 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥340.9b (up 14% from FY 2019). Net income: JP¥15.0b (up 25% from FY 2019). Profit margin: 4.4% (up from 4.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Dec 16
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 1.5%, compared to a 4.9% growth forecast for the Consumer Retailing industry in Japan.