New Risk • Apr 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (JP¥12.2b market cap, or US$76.5m). Reported Earnings • Apr 14
Full year 2026 earnings released: EPS: JP¥48.42 (vs JP¥35.46 in FY 2025) Full year 2026 results: EPS: JP¥48.42 (up from JP¥35.46 in FY 2025). Revenue: JP¥11.4b (up 6.8% from FY 2025). Net income: JP¥609.0m (up 37% from FY 2025). Profit margin: 5.3% (up from 4.2% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Apr 13
Hub Co., Ltd., Annual General Meeting, May 27, 2026 Hub Co., Ltd., Annual General Meeting, May 27, 2026. Announcement • Apr 03
Hub Co., Ltd. to Report Fiscal Year 2026 Results on Apr 13, 2026 Hub Co., Ltd. announced that they will report fiscal year 2026 results on Apr 13, 2026 Upcoming Dividend • Feb 19
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 29 May 2026. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). Reported Earnings • Jan 15
Third quarter 2026 earnings released: EPS: JP¥9.78 (vs JP¥8.83 in 3Q 2025) Third quarter 2026 results: EPS: JP¥9.78 (up from JP¥8.83 in 3Q 2025). Revenue: JP¥2.84b (up 6.4% from 3Q 2025). Net income: JP¥123.0m (up 11% from 3Q 2025). Profit margin: 4.3% (in line with 3Q 2025). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 15
Second quarter 2026 earnings released: EPS: JP¥8.03 (vs JP¥12.64 in 2Q 2025) Second quarter 2026 results: EPS: JP¥8.03 (down from JP¥12.64 in 2Q 2025). Revenue: JP¥2.82b (up 1.3% from 2Q 2025). Net income: JP¥101.0m (down 37% from 2Q 2025). Profit margin: 3.6% (down from 5.7% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (JP¥9.79b market cap, or US$65.7m). Reported Earnings • Jun 04
Full year 2025 earnings released: EPS: JP¥35.46 (vs JP¥21.47 in FY 2024) Full year 2025 results: EPS: JP¥35.46 (up from JP¥21.47 in FY 2024). Revenue: JP¥10.7b (up 8.7% from FY 2024). Net income: JP¥446.0m (up 65% from FY 2024). Profit margin: 4.2% (up from 2.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Apr 15
Hub Co., Ltd. Provides Dividend Guidance for the Year Ending February 2026 Hub Co., Ltd. provided dividend guidance of amount JPY 10.00 per share for the year ending February 2026. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 30 May 2025. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (0.8%). Announcement • Feb 08
Hub Co., Ltd. to Report Fiscal Year 2025 Results on Apr 14, 2025 Hub Co., Ltd. announced that they will report fiscal year 2025 results at 12:00 PM, Tokyo Standard Time on Apr 14, 2025 Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥8.83 (vs JP¥4.61 in 3Q 2024) Third quarter 2025 results: EPS: JP¥8.83 (up from JP¥4.61 in 3Q 2024). Revenue: JP¥2.67b (up 8.5% from 3Q 2024). Net income: JP¥111.0m (up 91% from 3Q 2024). Profit margin: 4.2% (up from 2.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 17
Second quarter 2025 earnings released: EPS: JP¥12.64 (vs JP¥2.62 in 2Q 2024) Second quarter 2025 results: EPS: JP¥12.64 (up from JP¥2.62 in 2Q 2024). Revenue: JP¥2.79b (up 15% from 2Q 2024). Net income: JP¥159.0m (up 382% from 2Q 2024). Profit margin: 5.7% (up from 1.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 12
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to JP¥754. The fair value is estimated to be JP¥628, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 113% in the next 2 years. Buy Or Sell Opportunity • Sep 20
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to JP¥758. The fair value is estimated to be JP¥629, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 113% in the next 2 years. Buy Or Sell Opportunity • Aug 22
Now 21% overvalued Over the last 90 days, the stock has fallen 9.1% to JP¥768. The fair value is estimated to be JP¥636, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 113% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥660, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Hospitality industry in Japan. Negligible returns to shareholders over past three years. Reported Earnings • Jul 16
First quarter 2025 earnings released: EPS: JP¥7.39 (vs JP¥9.94 in 1Q 2024) First quarter 2025 results: EPS: JP¥7.39 (down from JP¥9.94 in 1Q 2024). Revenue: JP¥2.69b (up 8.8% from 1Q 2024). Net income: JP¥93.0m (down 26% from 1Q 2024). Profit margin: 3.5% (down from 5.0% in 1Q 2024). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 14
Full year 2024 earnings released: EPS: JP¥21.47 (vs JP¥22.50 loss in FY 2023) Full year 2024 results: EPS: JP¥21.47 (up from JP¥22.50 loss in FY 2023). Revenue: JP¥9.85b (up 30% from FY 2023). Net income: JP¥270.0m (up JP¥553.0m from FY 2023). Profit margin: 2.7% (up from net loss in FY 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Feb 21
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 6.7% 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 Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (JP¥11.0b market cap, or US$73.3m). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥874, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 25x in the Hospitality industry in Japan. Total returns to shareholders of 26% over the past three years. Reported Earnings • Jan 14
Third quarter 2024 earnings released: EPS: JP¥4.61 (vs JP¥7.63 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥4.61 (up from JP¥7.63 loss in 3Q 2023). Revenue: JP¥2.46b (up 21% from 3Q 2023). Net income: JP¥58.0m (up JP¥154.0m from 3Q 2023). Profit margin: 2.4% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 12
Hub Co., Ltd. Provides Consolidated Earnings Guidance for the Period Ending Year Ending February 2024 Hub Co., Ltd. provided consolidated earnings guidance for the period ending year ending February 2024. For the year ending February 2024, the company expects net sales of JPY 9,800 million, operating profit of JPY 250 million, profit of JPY 220 million or JPY 17.49 per basic share. Announcement • Nov 02
Hub Co., Ltd. to Report Q3, 2024 Results on Jan 12, 2024 Hub Co., Ltd. announced that they will report Q3, 2024 results on Jan 12, 2024 Reported Earnings • Oct 15
Second quarter 2024 earnings released: EPS: JP¥2.62 (vs JP¥15.42 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥2.62 (up from JP¥15.42 loss in 2Q 2023). Revenue: JP¥2.42b (up 29% from 2Q 2023). Net income: JP¥33.0m (up JP¥227.0m from 2Q 2023). Profit margin: 1.4% (up from net loss in 2Q 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 16
First quarter 2024 earnings released: EPS: JP¥9.94 (vs JP¥0.24 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥9.94 (up from JP¥0.24 loss in 1Q 2023). Revenue: JP¥2.48b (up 61% from 1Q 2023). Net income: JP¥125.0m (up JP¥128.0m from 1Q 2023). Profit margin: 5.0% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 30
Full year 2023 earnings released: JP¥22.50 loss per share (vs JP¥11.59 profit in FY 2022) Full year 2023 results: JP¥22.50 loss per share (down from JP¥11.59 profit in FY 2022). Revenue: JP¥7.61b (up 215% from FY 2022). Net loss: JP¥283.0m (down 298% from profit in FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 16
Full year 2023 earnings released: JP¥22.50 loss per share (vs JP¥11.59 profit in FY 2022) Full year 2023 results: JP¥22.50 loss per share (down from JP¥11.59 profit in FY 2022). Revenue: JP¥7.61b (up 215% from FY 2022). Net loss: JP¥283.0m (down 298% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 14
Third quarter 2023 earnings released: JP¥7.63 loss per share (vs JP¥30.64 profit in 3Q 2022) Third quarter 2023 results: JP¥7.63 loss per share (down from JP¥30.64 profit in 3Q 2022). Revenue: JP¥2.04b (up 152% from 3Q 2022). Net loss: JP¥96.0m (down 125% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Jan 14
Hub Co., Ltd. Provides Earnings Guidance for the Year Ending February 2023 Hub Co., Ltd. provided earnings guidance for the year ending February 2023. For the period, the company expected net sales of JPY 7,900 million, Operating loss of JPY 390 million and loss of JPY 120 million or LPS of JPY 9.54. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 1 independent director (4 non-independent directors). Independent Outside Director Seiichi Imano was the last independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 17
Second quarter 2023 earnings released: JP¥15.42 loss per share (vs JP¥9.23 loss in 2Q 2022) Second quarter 2023 results: JP¥15.42 loss per share (further deteriorated from JP¥9.23 loss in 2Q 2022). Revenue: JP¥1.88b (up JP¥1.72b from 2Q 2022). Net loss: JP¥194.0m (loss widened 69% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Oct 15
Hub Co., Ltd. Provides Earnings Guidance for the Year Ending February 2023 Hub Co., Ltd. provided earnings guidance for the year ending February 2023. For the year 2023, the company expected net sales of JPY 7,900 million, Operating loss of JPY 390 million, ordinary loss of JPY 420 million and loss of JPY 120 million or LPS of JPY 9.54. Reported Earnings • Jul 17
First quarter 2023 earnings released: JP¥0.24 loss per share (vs JP¥14.16 profit in 1Q 2022) First quarter 2023 results: JP¥0.24 loss per share (down from JP¥14.16 profit in 1Q 2022). Revenue: JP¥1.54b (up 400% from 1Q 2022). Net loss: JP¥3.00m (down 102% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥572, the stock trades at a trailing P/E ratio of 50.3x. Average trailing P/E is 28x in the Hospitality industry in Japan. Total loss to shareholders of 55% over the past three years. Reported Earnings • Jun 01
Full year 2022 earnings released: EPS: JP¥11.59 (vs JP¥250 loss in FY 2021) Full year 2022 results: EPS: JP¥11.59 (up from JP¥250 loss in FY 2021). Revenue: JP¥2.41b (down 37% from FY 2021). Net income: JP¥143.0m (up JP¥2.89b from FY 2021). Profit margin: 5.9% (up from net loss in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 1 independent director (4 non-independent directors). Independent Outside Director Seiichi Imano was the last independent 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: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 15
Hub Co., Ltd. Provides Consolidated Earnings Guidance for the Period Ending August 2022 and Year Ending February 2023 Hub Co., Ltd. provided consolidated earnings guidance for the period ending August 2022 and year ending February 2023. For the period, the company expected net sales of JPY 3,700 million, operating loss of JPY 280 million, profit of JPY 60 million or JPY 4.77 per basic share.For the year, the company expected net sales of JPY 8,400 million, operating loss of JPY 170 million, profit of JPY 150 million or JPY 11.93 per basic share. Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: JP¥11.59 (vs JP¥250 loss in FY 2021) Full year 2022 results: EPS: JP¥11.59 (up from JP¥250 loss in FY 2021). Revenue: JP¥2.41b (down 37% from FY 2021). Net income: JP¥143.0m (up JP¥2.89b from FY 2021). Profit margin: 5.9% (up from net loss in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Announcement • Feb 03
Hub Co., Ltd. to Report Fiscal Year 2022 Results on Apr 14, 2022 Hub Co., Ltd. announced that they will report fiscal year 2022 results on Apr 14, 2022 Reported Earnings • Jan 14
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥30.64 (up from JP¥58.11 loss in 3Q 2021). Revenue: JP¥808.0m (down 46% from 3Q 2021). Net income: JP¥384.0m (up JP¥1.02b from 3Q 2021). Profit margin: 48% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 15
Second quarter 2022 earnings released: JP¥9.23 loss per share (vs JP¥56.48 loss in 2Q 2021) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2022 results: Revenue: JP¥156.0m (down 86% from 2Q 2021). Net loss: JP¥115.0m (loss narrowed 82% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 16
First quarter 2022 earnings released: EPS JP¥14.16 (vs JP¥64.02 loss in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥307.0m (down 55% from 1Q 2021). Net income: JP¥167.0m (up JP¥872.0m from 1Q 2021). Profit margin: 54% (up from net loss in 1Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • May 31
Full year 2021 earnings released: JP¥250 loss per share (vs JP¥41.87 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥3.85b (down 68% from FY 2020). Net loss: JP¥2.75b (down JP¥3.22b from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 16
Full year 2021 earnings released: JP¥250 loss per share (vs JP¥41.87 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥3.85b (down 68% from FY 2020). Net loss: JP¥2.75b (down JP¥3.22b from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • Apr 15
Hub Co., Ltd. announced that it has received ¥999.9711 million in funding from Tech Growth Capital Fund L.P. On April 14, 2021, Hub Co., Ltd. (TSE:3030) closed the transaction. The company capital increases from 11,265,300 shares to 12,830,200 shares . Announcement • Mar 24
Hub Co., Ltd. announced that it expects to receive ¥999.9711 million in funding from Tech Growth Capital Fund L.P. Hub Co., Ltd. (TSE:3030) announced that it has entered into an investment agreement for a private placement of 1,564,900 shares at an issue price of ¥639 per share for gross proceeds of ¥999,971,100 from new investor Tech Growth Capital Fund L.P. on March 22, 2021. The company will raise funding through third party allotment method. The transaction has been approved by the board of directors of the company. The payment date is April 14, 2021. The company will pay approximately ¥13,000,000 for issuance costs is financial advisory costs, registration-related costs, attorney's fees, securities registration statement preparation costs. The investor will hold 20.02% stake in the company, post the closing. Announcement • Feb 04
Hub Co., Ltd. to Report Fiscal Year 2021 Results on Apr 14, 2021 Hub Co., Ltd. announced that they will report fiscal year 2021 results on Apr 14, 2021 Is New 90 Day High Low • Jan 28
New 90-day high: JP¥680 The company is up 16% from its price of JP¥588 on 30 October 2020. The Japanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. Reported Earnings • Jan 15
Third quarter 2021 earnings released: JP¥58.11 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2021 results: Revenue: JP¥1.49b (down 55% from 3Q 2020). Net loss: JP¥640.0m (down 446% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 28
New 90-day low: JP¥533 The company is down 25% from its price of JP¥710 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day low: JP¥572 The company is down 7.0% from its price of JP¥614 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 12% over the same period. 
