Buy Or Sell Opportunity • Apr 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥688. The fair value is estimated to be JP¥864, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥699. The fair value is estimated to be JP¥875, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 04
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: JP¥6.94 loss per share (down from JP¥85.61 profit in FY 2024). Revenue: JP¥47.6b (flat on FY 2024). Net loss: JP¥101.3m (down 108% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Apr 04
Take and Give. Needs Co., Ltd to Report Q1, 2026 Results on May 13, 2026 Take and Give. Needs Co., Ltd announced that they will report Q1, 2026 results on May 13, 2026 New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.6% 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 Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥11.7b market cap, or US$76.9m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥36.91 (vs JP¥89.56 in 3Q 2025) Third quarter 2026 results: EPS: JP¥36.91 (down from JP¥89.56 in 3Q 2025). Revenue: JP¥14.4b (up 5.1% from 3Q 2025). Net income: JP¥539.0m (down 59% from 3Q 2025). Profit margin: 3.7% (down from 9.5% in 3Q 2025). Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Feb 13
Take and Give. Needs Co., Ltd, Annual General Meeting, Mar 30, 2026 Take and Give. Needs Co., Ltd, Annual General Meeting, Mar 30, 2026. Buy Or Sell Opportunity • Feb 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.5% to JP¥796. The fair value is estimated to be JP¥999, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 2.5% in 2 years. Earnings are forecast to decline by 43% in the next 2 years. Announcement • Dec 14
Take and Give. Needs Co., Ltd to Report Fiscal Year 2025 Results on Feb 10, 2026 Take and Give. Needs Co., Ltd announced that they will report fiscal year 2025 results on Feb 10, 2026 New Risk • Dec 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.7% 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 Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥11.2b market cap, or US$72.2m). Reported Earnings • Nov 15
Second quarter 2026 earnings released: JP¥31.37 loss per share (vs JP¥11.51 loss in 2Q 2025) Second quarter 2026 results: JP¥31.37 loss per share (further deteriorated from JP¥11.51 loss in 2Q 2025). Revenue: JP¥10.2b (down 2.8% from 2Q 2025). Net loss: JP¥458.0m (loss widened 173% from 2Q 2025). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. New Risk • Aug 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risks High level of debt (77% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥13.2b market cap, or US$89.7m). Announcement • Aug 14
Take and Give. Needs Co., Ltd to Report Q2, 2026 Results on Nov 12, 2025 Take and Give. Needs Co., Ltd announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥243 (vs JP¥114 in FY 2024) Full year 2025 results: EPS: JP¥243 (up from JP¥114 in FY 2024). Revenue: JP¥47.7b (up 1.4% from FY 2024). Net income: JP¥3.55b (up 114% from FY 2024). Profit margin: 7.4% (up from 3.5% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥243 (up from JP¥114 in FY 2024). Revenue: JP¥47.7b (up 1.4% from FY 2024). Net income: JP¥3.55b (up 114% from FY 2024). Profit margin: 7.4% (up from 3.5% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 87%. Revenue is forecast to stay flat during the next 2 years compared to a 8.8% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Feb 28
Take and Give. Needs Co., Ltd to Report Fiscal Year 2025 Results on May 14, 2025 Take and Give. Needs Co., Ltd announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥89.56 (vs JP¥93.37 in 3Q 2024) Third quarter 2025 results: EPS: JP¥89.56 (down from JP¥93.37 in 3Q 2024). Revenue: JP¥13.7b (flat on 3Q 2024). Net income: JP¥1.31b (down 4.0% from 3Q 2024). Profit margin: 9.5% (in line with 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 9.1% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Jan 08
Take and Give. Needs Co., Ltd Revises Dividend Guidance for the Full Year Ending March 31, 2025 Take and Give. Needs Co. Ltd. revised dividend guidance for the full year ending March 31, 2025. The company expects to pay JPY 30.00 per share against JPY 10.00 a year ago. Declared Dividend • Dec 05
First half dividend of JP¥10.00 announced Dividend of JP¥10.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 12th June 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 30
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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (97% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥13.4b market cap, or US$89.8m). Reported Earnings • Nov 20
Second quarter 2025 earnings released: JP¥11.51 loss per share (vs JP¥13.37 profit in 2Q 2024) Second quarter 2025 results: JP¥11.51 loss per share (down from JP¥13.37 profit in 2Q 2024). Revenue: JP¥10.5b (flat on 2Q 2024). Net loss: JP¥168.0m (down 186% from profit in 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 8.1% growth forecast for the Consumer Services 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 7% per year, which means it is significantly lagging earnings. Announcement • Nov 14
Take and Give. Needs Co., Ltd to Report Q3, 2025 Results on Feb 13, 2025 Take and Give. Needs Co., Ltd announced that they will report Q3, 2025 results on Feb 13, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.7%). Announcement • Aug 14
Take and Give. Needs Co., Ltd to Report Q2, 2025 Results on Nov 13, 2024 Take and Give. Needs Co., Ltd announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥41.48 (vs JP¥31.70 in 1Q 2024) First quarter 2025 results: EPS: JP¥41.48 (up from JP¥31.70 in 1Q 2024). Revenue: JP¥11.2b (up 1.3% from 1Q 2024). Net income: JP¥605.0m (up 31% from 1Q 2024). Profit margin: 5.4% (up from 4.2% in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 7.7% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥768, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Consumer Services industry in Japan. Total loss to shareholders of 6.7% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 27th September 2024 Payment date: 6th December 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is not covered by earnings (174% earnings payout ratio). However, it is well covered by cash flows (24% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 94% to bring the payout ratio under control. EPS is expected to grow by 64% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Price Target Changed • Jun 06
Price target decreased by 13% to JP¥3,300 Down from JP¥3,800, the current price target is provided by 1 analyst. New target price is 258% above last closing price of JP¥923. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥137 for next year compared to JP¥126 last year. Reported Earnings • May 18
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥126 (down from JP¥301 in FY 2023). Revenue: JP¥47.0b (up 3.3% from FY 2023). Net income: JP¥1.83b (down 53% from FY 2023). Profit margin: 3.9% (down from 8.6% 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 9.1%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 97% 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 16
Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 26, 2024 Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 26, 2024. New Risk • Apr 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 174% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (12% increase in shares outstanding). New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.9b (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 174% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (JP¥14.9b market cap, or US$97.9m). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.1%). Announcement • Mar 02
Take and Give. Needs Co., Ltd to Report Fiscal Year 2024 Results on May 14, 2024 Take and Give. Needs Co., Ltd announced that they will report fiscal year 2024 results on May 14, 2024 Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥48.6b to JP¥47.4b. EPS estimate also fell from JP¥175 per share to JP¥125 per share. Net income forecast to grow 552% next year vs 15% growth forecast for Consumer Services industry in Japan. Consensus price target of JP¥4,000 unchanged from last update. Share price fell 3.4% to JP¥1,074 over the past week. Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥102 (vs JP¥123 in 3Q 2023) Third quarter 2024 results: EPS: JP¥102 (down from JP¥123 in 3Q 2023). Revenue: JP¥13.6b (up 3.4% from 3Q 2023). Net income: JP¥1.49b (down 6.7% from 3Q 2023). Profit margin: 11% (down from 12% in 3Q 2023). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Consumer Services 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 22% per year, which means it is significantly lagging earnings growth. New Risk • Dec 06
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 5.5% 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: Major Risk Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Shareholders have been diluted in the past year (12% increase in shares outstanding). Announcement • Nov 27
Take and Give. Needs Co., Ltd to Report Q3, 2024 Results on Feb 09, 2024 Take and Give. Needs Co., Ltd announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥19.40 (vs JP¥58.80 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.40 (down from JP¥58.80 in 2Q 2023). Revenue: JP¥10.6b (down 4.7% from 2Q 2023). Net income: JP¥283.0m (down 63% from 2Q 2023). Profit margin: 2.7% (down from 6.9% in 2Q 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Sep 06
Take and Give. Needs Co., Ltd to Report Q2, 2024 Results on Nov 10, 2023 Take and Give. Needs Co., Ltd announced that they will report Q2, 2024 results on Nov 10, 2023 New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥34.73 (vs JP¥255 in 1Q 2023) First quarter 2024 results: EPS: JP¥34.73 (down from JP¥255 in 1Q 2023). Revenue: JP¥11.1b (down 3.7% from 1Q 2023). Net income: JP¥505.0m (down 85% from 1Q 2023). Profit margin: 4.6% (down from 29% in 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Take and Give. Needs Co., Ltd to Report Q1, 2024 Results on Aug 10, 2023 Take and Give. Needs Co., Ltd announced that they will report Q1, 2024 results on Aug 10, 2023 New Risk • Jun 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% 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 Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Major Estimate Revision • May 26
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥205 to JP¥171 per share. Revenue forecast steady at JP¥49.9b. Net income forecast to shrink 35% next year vs 23% growth forecast for Consumer Services industry in Japan . Consensus price target of JP¥3,800 unchanged from last update. Share price fell 3.1% to JP¥1,103 over the past week. Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥317 (up from JP¥129 in FY 2022). Revenue: JP¥45.5b (up 15% from FY 2022). Net income: JP¥4.11b (up 146% from FY 2022). Profit margin: 9.0% (up from 4.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 22%. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Consumer Services 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 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,092, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Consumer Services industry in Japan. Total returns to shareholders of 82% over the past three years. Announcement • May 14
Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 23, 2023 Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 23, 2023. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥135 (vs JP¥169 in 3Q 2022) Third quarter 2023 results: EPS: JP¥135 (down from JP¥169 in 3Q 2022). Revenue: JP¥13.2b (up 13% from 3Q 2022). Net income: JP¥1.76b (down 20% from 3Q 2022). Profit margin: 13% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Consumer Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to JP¥3,300 Up from JP¥3,000, the current price target is provided by 1 analyst. New target price is 133% above last closing price of JP¥1,418. Stock is up 41% over the past year. The company is forecast to post earnings per share of JP¥239 for next year compared to JP¥129 last year. 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 (8 non-independent directors). External Director Komei Sasaki was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥66.74 (vs JP¥0.77 in 2Q 2022) Second quarter 2023 results: EPS: JP¥66.74 (up from JP¥0.77 in 2Q 2022). Revenue: JP¥11.1b (up 30% from 2Q 2022). Net income: JP¥866.0m (up JP¥856.0m from 2Q 2022). Profit margin: 7.8% (up from 0.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Consumer Services industry in Japan. 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 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 12
Take and Give. Needs Co., Ltd Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 Take and Give. Needs Co. Ltd. provided consolidated earnings guidance for the Fiscal year ending March 31, 2023. For the year, the company expects total sales to be JPY 44,500 million, operating profit to be JPY 3,300, net income attributable to owners of the parent to be JPY 3,100 million and EPS to be JPY 223.07. Major Estimate Revision • Aug 19
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥43.5b to JP¥44.5b. EPS estimate increased from JP¥177 to JP¥239 per share. Net income forecast to shrink 34% next year vs 15% growth forecast for Consumer Services industry in Japan . Consensus price target up from JP¥3,000 to JP¥3,300. Share price fell 4.8% to JP¥1,620 over the past week. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,702, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Consumer Services industry in Japan. Total returns to shareholders of 44% over the past three years. Announcement • Aug 10
Take and Give. Needs Co., Ltd to Report Q2, 2023 Results on Nov 11, 2022 Take and Give. Needs Co., Ltd announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥259 (vs JP¥25.60 in 1Q 2022) First quarter 2023 results: EPS: JP¥259 (up from JP¥25.60 in 1Q 2022). Revenue: JP¥11.5b (up 22% from 1Q 2022). Net income: JP¥3.36b (up JP¥3.03b from 1Q 2022). Profit margin: 29% (up from 3.5% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 7.6%, compared to a 8.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Aug 06
Take and Give. Needs Co., Ltd Provides Earnings Guidance for the Six Months Ending September 30, 2022, and the Full Year Ending March 31, 2023 Take and Give. Needs Co. Ltd. provided earnings guidance for the six months ending September 30, 2022, and the full year ending March 31, 2023. For the six months ending September 30, 2022, the company expects total sales of ¥21,000 million, operating profit of ¥2,000 million and net income attributable to owners of the parent of ¥3,500 million or ¥261.89 per share.For the full year ending March 31, 2023, the company expects total sales of ¥44,500 million, operating profit of ¥3,000 million and net income attributable to owners of the parent of ¥3,000 million or ¥215.40 per share. Price Target Changed • May 20
Price target increased to JP¥3,000 Up from JP¥2,200, the current price target is provided by 1 analyst. New target price is 92% above last closing price of JP¥1,562. Stock is up 91% over the past year. The company is forecast to post earnings per share of JP¥177 for next year compared to JP¥145 last year. Announcement • May 18
Take and Give. Needs Co., Ltd to Report Q1, 2023 Results on Aug 05, 2022 Take and Give. Needs Co., Ltd announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 16
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: JP¥145 (up from JP¥1,251 loss in FY 2021). Revenue: JP¥39.5b (up 97% from FY 2021). Net income: JP¥1.88b (up JP¥18.1b from FY 2021). Profit margin: 4.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • May 14
Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 24, 2022 Take and Give. Needs Co., Ltd, Annual General Meeting, Jun 24, 2022. Announcement • May 13
Take and Give. Needs Co., Ltd Provides Earnings Guidance for the Six Months Ending September 30, 2022 and Year Ending March 31, 2023 Take and Give. Needs Co. Ltd. provided earnings guidance for the six months ending September 30, 2022 and year ending March 31, 2023. For the six months ending September 30, 2022, the company expects Total sales of JPY 20,000 million, Operating profit of JPY 1,200 million, Net income attributable to owners of the parent of JPY 600 million and EPS of JPY 38.31.For the year ending March 31, 2023, the company expects Total sales of JPY 43,500 million, Operating profit of JPY 3,000 million, Net income attributable to owners of the parent of JPY 2,500 million and EPS of JPY 176.86. 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. 7 experienced directors. 5 highly experienced directors. No independent directors (7 non-independent directors). External Director Komei Sasaki was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 07
Take and Give. Needs Co., Ltd to Report Fiscal Year 2022 Results on May 13, 2022 Take and Give. Needs Co., Ltd announced that they will report fiscal year 2022 results on May 13, 2022 Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥181 (up from JP¥0.23 in 3Q 2021). Revenue: JP¥11.6b (up 43% from 3Q 2021). Net income: JP¥2.34b (up JP¥2.34b from 3Q 2021). Profit margin: 20% (up from 0% in 3Q 2021). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 19%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥8.71 (vs JP¥553 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥8.53b (up 138% from 2Q 2021). Net income: JP¥113.0m (up JP¥7.28b from 2Q 2021). Profit margin: 1.3% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 18
Price target increased to JP¥2,200 Up from JP¥1,900, the current price target is provided by 1 analyst. New target price is 107% above last closing price of JP¥1,061. Stock is up 115% over the past year. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥29.54 (vs JP¥462 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥9.48b (up 264% from 1Q 2021). Net income: JP¥383.0m (up JP¥6.38b from 1Q 2021). Profit margin: 4.0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Aug 08
Take and Give. Needs Co., Ltd Provides Earnings Guidance for the Half Year Ending September 30, 2021 and Full Year Ending March 31, 2022 Take and Give. Needs Co. Ltd. provided earnings guidance for the half year ending September 30, 2021 and full year ending March 31, 2022. For the half year ending September 30, 2021, the company expects net sales to be of JPY 19,500 to 20,000 million. Operating loss is expected to be JPY 650 to 300 million. Net loss attributable to owners of parent is expected to be JPY 900 to 550 million. LPS is expected to be JPY 80.97 to 42.41 per share.
For the full year, the company expects net sales to be of JPY 42,000 to 45,000 million. Operating profit is expected to be JPY 600 to 2,500 million. Net loss attributable to owners of parent is expected to be JPY 700 to profit of 800 million. LPS is expected to be JPY 53.98 to EPS of 45.81 per share. Reported Earnings • May 16
Full year 2021 earnings released: JP¥1,251 loss per share (vs JP¥77.43 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¥20.0b (down 69% from FY 2020). Net loss: JP¥16.2b (down JP¥17.2b 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 101 percentage points per year, which is a significant difference in performance. Announcement • Mar 04
Take and Give. Needs Co., Ltd to Report Fiscal Year 2021 Results on May 13, 2021 Take and Give. Needs Co., Ltd announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Feb 24
New 90-day high: JP¥906 The company is up 50% from its price of JP¥603 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 2.0% over the same period. Major Estimate Revision • Feb 18
Analysts update estimates The 2021 consensus revenue estimate was lowered from JP¥21.3b to JP¥18.5b. Earnings per share (EPS) saw an improvement, with analysts raising their estimates from -JP¥991 to -JP¥965 for the same period. The Consumer Services industry in Japan is expected to see an average net income growth of 26% next year. The consensus price target increased from JP¥1,700 to JP¥2,000. Share price is up 31% to JP¥884 over the past week. Announcement • Feb 12
Take and Give. Needs Co., Ltd to Report Q3, 2021 Results on Feb 10, 2021 Take and Give. Needs Co., Ltd announced that they will report Q3, 2021 results on Feb 10, 2021 Analyst Estimate Surprise Post Earnings • Feb 12
Revenue and earnings miss expectations Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 43%. Over the next year, revenue is forecast to grow 14%, compared to a 7.7% growth forecast for the Consumer Services industry in Japan. Announcement • Feb 11
Take and Give. Needs Co., Ltd announced that it expects to receive ¥3 billion in funding from Norinchukin Bank, Investment Arm, Tsunagu Investments Pte. Ltd. Take and Give. Needs Co., Ltd (TSE:4331) announced that it has entered into a share subscription agreement for a third party allotment of shares for gross proceeds of ¥3,000,000,000 on February 10, 2021. The company will issue 2,000 class 1 preferred stock at a price of ¥1,000,000 per share for gross proceeds of ¥2,000,000,000 to Norinchukin Bank, Investment Arm and 1,000 shares of class 2 preferred stock at a price of ¥1,000,000 per share for gross proceeds of ¥1,000,000,000 to Tsunagu Investments Pte. Ltd. The transaction has been approved by the board of directors of the company. The company will pay ¥204,000,000 as issuance costs including registration-related costs, financial advisory fees, legal advisory fees, and valuation costs and will receive net proceeds of ¥2,796,000,000. The transaction is expected to close on April 20, 2021. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥655 The company is up 19% from its price of JP¥550 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is down 4.0% over the same period. Price Target Changed • Dec 01
Price target lowered to JP¥1,700 Down from JP¥2,800, the current price target is provided by 1 analyst. The new target price is 199% above the current share price of JP¥569. As of last close, the stock is down 58% over the past year. Announcement • Sep 21
Take and Give. Needs Co., Ltd(TSE:4331) dropped from S&P Global BMI Index Take and Give. Needs Co., Ltd(TSE:4331) dropped from S&P Global BMI Index Announcement • Sep 19
Ken Real Estate Lease Ltd. signed a share transfer agreement to acquire 91.8% stake in GOOD LUCK Corporation Co., Ltd from Take and Give. Needs Co., Ltd (TSE:4331). Ken Real Estate Lease Ltd. signed a share transfer agreement to acquire 91.8% stake in GOOD LUCK Corporation Co., Ltd from Take and Give. Needs Co., Ltd (TSE:4331) on September 18, 2020. Under the terms of the transaction, Ken Real Estate Lease Ltd. will acquire 0.15 million shares in GOOD LUCK Corporation Co., Ltd. Post-closing, Take and Give. Needs Co., Ltd will not hold any stake in GOOD LUCK Corporation. For the financial year 2019, GOOD LUCK Corporation Co., Ltd had sales of ¥11.1 billion, net worth of ¥2.2 billion, total assets of ¥5.7 billion, operating income of ¥245 million and net income of ¥548 million. The transaction was resolved by the Board of Directors of Take and Give. Needs Co., Ltd on September 18, 2020. The contract closing date is September 18, 2020. The planned date of execution of share transfer is September 30, 2020. 
