Buy Or Sell Opportunity • May 21
Now 23% overvalued Over the last 90 days, the stock has fallen 14% to JP¥4,055. The fair value is estimated to be JP¥3,301, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 22%. New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • May 13
Full year 2026 earnings released: EPS: JP¥996 (vs JP¥840 in FY 2025) Full year 2026 results: EPS: JP¥996 (up from JP¥840 in FY 2025). Revenue: JP¥363.7b (up 3.9% from FY 2025). Net income: JP¥5.38b (up 19% from FY 2025). Profit margin: 1.5% (up from 1.3% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. Announcement • May 12
OUG Holdings Inc., Annual General Meeting, Jun 26, 2026 OUG Holdings Inc., Annual General Meeting, Jun 26, 2026. Announcement • May 10
OUG Holdings Inc. to Report Fiscal Year 2026 Results on May 12, 2026 OUG Holdings Inc. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥109 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,790, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 15x in the Consumer Retailing industry in Japan. Total returns to shareholders of 113% over the past three years. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥387 (vs JP¥365 in 3Q 2025) Third quarter 2026 results: EPS: JP¥387 (up from JP¥365 in 3Q 2025). Revenue: JP¥104.8b (up 2.9% from 3Q 2025). Net income: JP¥2.09b (up 6.0% from 3Q 2025). Profit margin: 2.0% (up from 1.9% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. New Risk • Feb 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥228 (vs JP¥251 in 2Q 2025) Second quarter 2026 results: EPS: JP¥228 (down from JP¥251 in 2Q 2025). Revenue: JP¥88.4b (up 3.2% from 2Q 2025). Net income: JP¥1.23b (down 9.0% from 2Q 2025). Profit margin: 1.4% (down from 1.6% 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 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 13
Dividend of JP¥102 announced Shareholders will receive a dividend of JP¥102. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (10% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 65% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 05
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥3,845. The fair value is estimated to be JP¥4,808, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Oct 14
Now 21% undervalued Over the last 90 days, the stock has risen 4.3% to JP¥3,730. The fair value is estimated to be JP¥4,696, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 32%. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: JP¥182 (vs JP¥91.96 in 1Q 2025) First quarter 2026 results: EPS: JP¥182 (up from JP¥91.96 in 1Q 2025). Revenue: JP¥82.6b (up 3.4% from 1Q 2025). Net income: JP¥984.0m (up 99% from 1Q 2025). Profit margin: 1.2% (up from 0.6% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 31
OUG Holdings Inc. to Report Q1, 2026 Results on Aug 12, 2025 OUG Holdings Inc. announced that they will report Q1, 2026 results on Aug 12, 2025 Reported Earnings • May 15
Full year 2025 earnings released: EPS: JP¥840 (vs JP¥672 in FY 2024) Full year 2025 results: EPS: JP¥840 (up from JP¥672 in FY 2024). Revenue: JP¥350.1b (up 5.1% from FY 2024). Net income: JP¥4.53b (up 25% from FY 2024). Profit margin: 1.3% (up from 1.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 13
OUG Holdings Inc., Annual General Meeting, Jun 27, 2025 OUG Holdings Inc., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥96.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 6.4% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Feb 28
OUG Holdings Inc. to Report Fiscal Year 2025 Results on May 13, 2025 OUG Holdings Inc. announced that they will report fiscal year 2025 results at 12:00 PM, Tokyo Standard Time on May 13, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥365 (vs JP¥260 in 3Q 2024) Third quarter 2025 results: EPS: JP¥365 (up from JP¥260 in 3Q 2024). Revenue: JP¥101.9b (up 7.4% from 3Q 2024). Net income: JP¥1.97b (up 41% from 3Q 2024). Profit margin: 1.9% (up from 1.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% 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 • Jan 31
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.5% to JP¥2,607. The fair value is estimated to be JP¥2,134, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 33%. Buy Or Sell Opportunity • Nov 21
Now 20% overvalued Over the last 90 days, the stock has fallen 1.0% to JP¥2,565. The fair value is estimated to be JP¥2,134, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: JP¥251 (vs JP¥43.28 in 2Q 2024) Second quarter 2025 results: EPS: JP¥251 (up from JP¥43.28 in 2Q 2024). Revenue: JP¥85.6b (up 8.0% from 2Q 2024). Net income: JP¥1.35b (up 481% from 2Q 2024). Profit margin: 1.6% (up from 0.3% in 2Q 2024). 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 only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 14
Dividend of JP¥85.00 announced Shareholders will receive a dividend of JP¥85.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥13.8b market cap, or US$98.3m). Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥91.96 (vs JP¥144 in 1Q 2024) First quarter 2025 results: EPS: JP¥91.96 (down from JP¥144 in 1Q 2024). Revenue: JP¥79.9b (down 2.1% from 1Q 2024). Net income: JP¥495.0m (down 36% from 1Q 2024). Profit margin: 0.6% (down from 1.0% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • May 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.7% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.7% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (JP¥14.1b market cap, or US$91.4m). Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥672 (vs JP¥562 in FY 2023) Full year 2024 results: EPS: JP¥672 (up from JP¥562 in FY 2023). Revenue: JP¥333.2b (up 2.5% from FY 2023). Net income: JP¥3.62b (up 18% from FY 2023). Profit margin: 1.1% (up from 0.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 12
OUG Holdings Inc., Annual General Meeting, Jun 27, 2024 OUG Holdings Inc., Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.5%). Announcement • Mar 02
OUG Holdings Inc. to Report Fiscal Year 2024 Results on May 10, 2024 OUG Holdings Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥260 (vs JP¥287 in 3Q 2023) Third quarter 2024 results: EPS: JP¥260 (down from JP¥287 in 3Q 2023). Revenue: JP¥94.9b (flat on 3Q 2023). Net income: JP¥1.40b (down 10% from 3Q 2023). Profit margin: 1.5% (down from 1.6% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥43.28 (vs JP¥110 in 2Q 2023) Second quarter 2024 results: EPS: JP¥43.28 (down from JP¥110 in 2Q 2023). Revenue: JP¥79.3b (down 1.2% from 2Q 2023). Net income: JP¥233.0m (down 62% from 2Q 2023). Profit margin: 0.3% (down from 0.8% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥144 (vs JP¥111 in 1Q 2023) First quarter 2024 results: EPS: JP¥144 (up from JP¥111 in 1Q 2023). Revenue: JP¥81.6b (up 7.6% from 1Q 2023). Net income: JP¥777.0m (up 26% from 1Q 2023). Profit margin: 1.0% (up from 0.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
Full year 2023 earnings released: EPS: JP¥562 (vs JP¥242 in FY 2022) Full year 2023 results: EPS: JP¥562 (up from JP¥242 in FY 2022). Revenue: JP¥325.0b (up 8.9% from FY 2022). Net income: JP¥3.08b (up 129% from FY 2022). Profit margin: 0.9% (up from 0.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥287 (vs JP¥118 in 3Q 2022) Third quarter 2023 results: EPS: JP¥287 (up from JP¥118 in 3Q 2022). Revenue: JP¥95.8b (up 7.7% from 3Q 2022). Net income: JP¥1.56b (up 139% from 3Q 2022). Profit margin: 1.6% (up from 0.7% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Nov 25
OUG Holdings Inc. (TSE:8041) announces an Equity Buyback for 170,000 shares, representing 3.07% for ¥420.24 million. OUG Holdings Inc. (TSE:8041) announces a share repurchase program. Under the program, the company will repurchase up to 170,000 shares, representing 3.07% of its issued share capital (excluding treasury stock), for ¥420.24 million. The shares will be repurchased at a price of ¥2,472 per share. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment.. The program will run until November 25, 2022. As of October 31, 2022, the company had 5,544,990 shares in issue (excluding treasury stock) and 17,302 shares in treasury. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Full-Time Auditor Kiyohiro Tatsu was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥110 (vs JP¥91.07 in 2Q 2022) Second quarter 2023 results: EPS: JP¥110 (up from JP¥91.07 in 2Q 2022). Revenue: JP¥80.2b (up 11% from 2Q 2022). Net income: JP¥610.0m (up 21% from 2Q 2022). Profit margin: 0.8% (up from 0.7% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥111 (vs JP¥50.13 in 1Q 2022) First quarter 2023 results: EPS: JP¥111 (up from JP¥50.13 in 1Q 2022). Revenue: JP¥75.9b (up 12% from 1Q 2022). Net income: JP¥615.0m (up 121% from 1Q 2022). Profit margin: 0.8% (up from 0.4% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥242 (vs JP¥206 in FY 2021) Full year 2022 results: EPS: JP¥242 (up from JP¥206 in FY 2021). Revenue: JP¥298.6b (flat on FY 2021). Net income: JP¥1.34b (up 18% from FY 2021). Profit margin: 0.5% (up from 0.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Announcement • May 14
OUG Holdings Inc., Annual General Meeting, Jun 29, 2022 OUG Holdings Inc., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Full-Time Auditor Kiyohiro Tatsu was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
OUG Holdings Inc. to Report Fiscal Year 2022 Results on May 12, 2022 OUG Holdings Inc. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥118 (down from JP¥225 in 3Q 2021). Revenue: JP¥89.0b (down 2.2% from 3Q 2021). Net income: JP¥653.0m (down 48% from 3Q 2021). Profit margin: 0.7% (down from 1.4% in 3Q 2021). Revenue was in line with analyst estimates. 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 3% per year. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥91.07 (vs JP¥52.79 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥72.1b (down 2.1% from 2Q 2021). Net income: JP¥505.0m (up 72% from 2Q 2021). Profit margin: 0.7% (up from 0.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥206 (vs JP¥215 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥298.3b (down 6.7% from FY 2020). Net income: JP¥1.14b (down 4.3% from FY 2020). Profit margin: 0.4% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.4%). Is New 90 Day High Low • Mar 11
New 90-day high: JP¥2,903 The company is up 1.0% from its price of JP¥2,871 on 11 December 2020. The Japanese market is up 8.0% 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. Announcement • Mar 04
OUG Holdings Inc. to Report Fiscal Year 2021 Results on May 11, 2021 OUG Holdings Inc. announced that they will report fiscal year 2021 results on May 11, 2021 Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS JP¥225 (vs JP¥229 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JP¥90.9b (down 2.2% from 3Q 2020). Net income: JP¥1.25b (down 1.9% from 3Q 2020). Profit margin: 1.4% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 10
New 90-day low: JP¥2,768 The company is down 5.0% from its price of JP¥2,906 on 12 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 7.0% over the same period. 
