Announcement • Jun 03
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q1, 2027 Results on Aug 14, 2026 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q1, 2027 results on Aug 14, 2026 New Risk • May 20
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥9.61b market cap, or US$60.4m). Reported Earnings • May 20
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥71.39 (up from JP¥34.08 in FY 2025). Revenue: JP¥23.8b (up 1.9% from FY 2025). Net income: JP¥699.0m (up 110% from FY 2025). Profit margin: 2.9% (up from 1.4% in FY 2025). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 1.8%. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 15
RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 24, 2026 RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • May 10
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (0.9%). Buy Or Sell Opportunity • Mar 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.8% to JP¥1,041. The fair value is estimated to be JP¥865, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.5% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to decline by 9.7% in a year. Earnings are forecast to grow by 23% in the next year. Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: JP¥16.43 (vs JP¥21.84 in 3Q 2025) Third quarter 2026 results: EPS: JP¥16.43 (down from JP¥21.84 in 3Q 2025). Revenue: JP¥6.70b (up 3.2% from 3Q 2025). Net income: JP¥161.0m (down 25% from 3Q 2025). Profit margin: 2.4% (down from 3.3% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.6% p.a. on average during the next 2 years, while revenues in the Hospitality industry in Japan are expected to grow by 8.9%. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Dec 02
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Declared Dividend • Nov 16
Dividend of JP¥15.00 announced Dividend of JP¥15.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 1.5%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 4.0% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 02
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: JP¥2.05 (vs JP¥2.93 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥2.05 (up from JP¥2.93 loss in 1Q 2025). Revenue: JP¥5.23b (down 1.9% from 1Q 2025). Net income: JP¥20.0m (up JP¥48.6m from 1Q 2025). Profit margin: 0.4% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Revenue is expected to decline by 4.4% p.a. on average during the next 2 years, while revenues in the Hospitality industry in Japan are expected to grow by 6.5%. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 29
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥34.08 (down from JP¥37.35 in FY 2024). Revenue: JP¥23.4b (down 2.5% from FY 2024). Net income: JP¥333.0m (down 8.5% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Hospitality industry in Japan are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jun 03
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q1, 2026 Results on Aug 14, 2025 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 21
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥34.08 (down from JP¥37.35 in FY 2024). Revenue: JP¥23.4b (down 2.5% from FY 2024). Net income: JP¥333.0m (down 8.5% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Hospitality industry in Japan are expected to grow by 6.5%. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 15
RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 25, 2025 RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 25, 2025. Announcement • Apr 01
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (0.8%). Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥21.78 (vs JP¥10.15 in 3Q 2024) Third quarter 2025 results: EPS: JP¥21.78 (up from JP¥10.15 in 3Q 2024). Revenue: JP¥6.49b (flat on 3Q 2024). Net income: JP¥213.0m (up 115% from 3Q 2024). Profit margin: 3.3% (up from 1.5% in 3Q 2024). Revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Hospitality industry in Japan are expected to grow by 6.6%. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jan 03
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Declared Dividend • Nov 16
Dividend of JP¥15.00 announced Dividend of JP¥15.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 1.5%, which is higher than the industry average of 0.6%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 71% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 27
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q2, 2025 Results on Nov 14, 2024 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q2, 2025 results on Nov 14, 2024 New Risk • Aug 19
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.0% Last year net profit margin: 1.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (JP¥9.83b market cap, or US$67.2m). Reported Earnings • Aug 19
First quarter 2025 earnings released: JP¥12.10 loss per share (vs JP¥0.10 profit in 1Q 2024) First quarter 2025 results: JP¥12.10 loss per share (down from JP¥0.10 profit in 1Q 2024). Revenue: JP¥5.19b (down 5.1% from 1Q 2024). Net loss: JP¥118.0m (down JP¥119.0m from profit in 1Q 2024). Revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Hospitality industry in Japan are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Jun 06
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q1, 2025 Results on Aug 14, 2024 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q1, 2025 results on Aug 14, 2024 Price Target Changed • May 25
Price target decreased by 25% to JP¥1,200 Down from JP¥1,600, the current price target is provided by 1 analyst. New target price is 13% above last closing price of JP¥1,059. Stock is up 5.4% over the past year. The company is forecast to post earnings per share of JP¥58.40 for next year compared to JP¥37.35 last year. Reported Earnings • May 21
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥37.35 (down from JP¥55.63 in FY 2023). Revenue: JP¥24.0b (down 5.4% from FY 2023). Net income: JP¥364.0m (down 33% from FY 2023). Profit margin: 1.5% (down from 2.2% in FY 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 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 fallen by 48% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • May 21
New major risk - Revenue and earnings growth Earnings have declined by 9.2% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 9.2% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (JP¥10.4b market cap, or US$66.4m). Announcement • May 17
RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 26, 2024 RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.6%). Announcement • Mar 02
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: JP¥10.15 (vs JP¥18.60 in 3Q 2023) Third quarter 2024 results: EPS: JP¥10.15 (down from JP¥18.60 in 3Q 2023). Revenue: JP¥6.51b (down 4.2% from 3Q 2023). Net income: JP¥99.0m (down 45% from 3Q 2023). Profit margin: 1.5% (down from 2.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 43% 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 • Dec 06
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q3, 2024 Results on Feb 14, 2024 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 15
Second quarter 2024 earnings released: EPS: JP¥12.41 (vs JP¥17.81 in 2Q 2023) Second quarter 2024 results: EPS: JP¥12.41 (down from JP¥17.81 in 2Q 2023). Revenue: JP¥5.59b (down 11% from 2Q 2023). Net income: JP¥121.0m (down 31% from 2Q 2023). Profit margin: 2.2% (down from 2.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Sep 06
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q2, 2024 Results on Nov 13, 2023 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q2, 2024 results on Nov 13, 2023 Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥0.10 (vs JP¥9.28 in 1Q 2023) First quarter 2024 results: EPS: JP¥0.10 (down from JP¥9.28 in 1Q 2023). Revenue: JP¥5.46b (down 6.9% from 1Q 2023). Net income: JP¥1.00m (down 99% from 1Q 2023). Profit margin: 0% (down from 1.6% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 30% per year. Buying Opportunity • Jun 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.5%. The fair value is estimated to be JP¥1,308, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is also forecast to grow by 4.6% per annum over the same time period. Announcement • May 28
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q1, 2024 Results on Aug 14, 2023 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 17
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥55.63 (down from JP¥119 in FY 2022). Revenue: JP¥25.4b (down 1.4% from FY 2022). Net income: JP¥546.0m (down 56% from FY 2022). Profit margin: 2.2% (down from 4.8% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year and the company’s share price has also fallen by 13% per year. Buying Opportunity • May 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be JP¥1,326, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.7% in 2 years. Earnings is forecast to grow by 55% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (0.5%). Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: JP¥18.60 (vs JP¥29.27 in 3Q 2022) Third quarter 2023 results: EPS: JP¥18.60 (down from JP¥29.27 in 3Q 2022). Revenue: JP¥6.79b (flat on 3Q 2022). Net income: JP¥181.0m (down 40% from 3Q 2022). Profit margin: 2.7% (down from 4.4% in 3Q 2022). Revenue is forecast to grow 1.7% 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 fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Nov 27
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q3, 2023 Results on Feb 14, 2023 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥17.81 (vs JP¥42.84 in 2Q 2022) Second quarter 2023 results: EPS: JP¥17.81 (down from JP¥42.84 in 2Q 2022). Revenue: JP¥6.25b (down 2.4% from 2Q 2022). Net income: JP¥174.0m (down 62% from 2Q 2022). Profit margin: 2.8% (down from 7.1% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.6% 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 8% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to JP¥3,100 Down from JP¥4,100, the current price target is provided by 1 analyst. New target price is 194% above last closing price of JP¥1,053. Stock is down 34% over the past year. The company is forecast to post earnings per share of JP¥125 for next year compared to JP¥119 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. 5 highly experienced directors. No independent directors (10 non-independent directors). Director Toshihiko Seino was the last 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: Lack of independent directors. Insufficient board refreshment. Announcement • Aug 31
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q2, 2023 Results on Nov 14, 2022 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 15
First quarter 2023 earnings released: EPS: JP¥9.28 (vs JP¥25.58 in 1Q 2022) First quarter 2023 results: EPS: JP¥9.28 (down from JP¥25.58 in 1Q 2022). Revenue: JP¥5.87b (down 1.5% from 1Q 2022). Net income: JP¥93.0m (down 66% from 1Q 2022). Profit margin: 1.6% (down from 4.6% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 4.8%, compared to a 37% growth forecast for the Hospitality industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 01
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q1, 2023 Results on Aug 12, 2022 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022 Major Estimate Revision • May 25
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥161 to JP¥125 per share. Revenue forecast steady at JP¥26.6b. Net income forecast to grow 1.1% next year vs 0.5% decline forecast for Hospitality industry in Japan. Consensus price target down from JP¥4,100 to JP¥3,400. Share price fell 2.5% to JP¥1,150 over the past week. Reported Earnings • May 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥119 (down from JP¥141 in FY 2021). Revenue: JP¥25.7b (up 1.3% from FY 2021). Net income: JP¥1.25b (down 17% from FY 2021). Profit margin: 4.8% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 3.4%, compared to a 49% growth forecast for the restaurants industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 15
RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 24, 2022 RIDE ON EXPRESS HOLDINGS Co., Ltd., Annual General Meeting, Jun 24, 2022. 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. 4 experienced directors. 5 highly experienced directors. No independent directors (9 non-independent directors). Director Toshihiko Seino was the last 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: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 8.3% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.4%). Reported Earnings • Feb 18
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥29.27 (down from JP¥36.02 in 3Q 2021). Revenue: JP¥6.79b (up 2.2% from 3Q 2021). Net income: JP¥301.0m (down 21% from 3Q 2021). Profit margin: 4.4% (down from 5.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 3.2%, compared to a 69% growth forecast for the 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 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥42.84 (vs JP¥45.87 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥6.41b (up 5.6% from 2Q 2021). Net income: JP¥458.0m (down 6.0% from 2Q 2021). Profit margin: 7.1% (down from 8.0% in 2Q 2021). The decrease in margin was driven by higher expenses. 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 1% per year, which means it is significantly lagging earnings. Announcement • Sep 08
RIDE ON EXPRESS HOLDINGS Co., Ltd. (TSE:6082) announces an Equity Buyback for 700,000 shares, representing 6.52% for ¥1,000 million. RIDE ON EXPRESS HOLDINGS Co., Ltd. (TSE:6082) announces a share repurchase program. Under the program, the company will repurchase 700,000 shares, representing 6.52% of the outstanding shares for ¥1,000 million. The purpose of the program is to improve shareholder returns, enhance capital efficiency and enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until January 31, 2022. As of August 31, 2021, the company had 10,728,976 shares outstanding and 125,071 shares in treasury. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (0.5%). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥1,753, the stock is trading at a trailing P/E ratio of 12.8x, down from the previous P/E ratio of 15.4x. This compares to an average P/E of 37x in the Hospitality industry in Japan. Total returns to shareholders over the past three years are 66%. Is New 90 Day High Low • Feb 18
New 90-day low: JP¥1,750 The company is down 15% from its price of JP¥2,058 on 19 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 5.0% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥36.02 (vs JP¥26.74 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.64b (up 14% from 3Q 2020). Net income: JP¥383.0m (up 36% from 3Q 2020). Profit margin: 5.8% (up from 4.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 7.1%, compared to a 42% growth forecast for the Hospitality industry in Japan. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥2,198, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 14.6x. This compares to an average P/E of 37x in the Hospitality industry in Japan. Total returns to shareholders over the past three years are 103%. Is New 90 Day High Low • Dec 25
New 90-day low: JP¥1,877 The company is down 28% from its price of JP¥2,623 on 25 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 5.0% over the same period. Announcement • Dec 05
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q3, 2021 Results on Feb 12, 2021 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q3, 2021 results on Feb 12, 2021 Price Target Changed • Dec 01
Price target raised to JP¥4,600 Up from JP¥4,000, the current price target is provided by 1 analyst. The new target price is 119% above the current share price of JP¥2,098. As of last close, the stock is up 4.3% over the past year. Announcement • Sep 19
A Gifu based unknown investment company acquired 3.9% additional stake in Ride On Express Co., Ltd. (TSE:6082) from individual investor. A Gifu based unknown investment company acquired 3.9% additional stake in Ride On Express Co., Ltd. (TSE:6082) from individual investor on December 13, 2016.
A Gifu based unknown investment company completed acquisition of 3.9% additional stake in Ride On Express Co., Ltd. (TSE:6082) from individual investor on December 13, 2016. Announcement • Sep 03
RIDE ON EXPRESS HOLDINGS Co., Ltd. to Report Q2, 2021 Results on Nov 13, 2020 RIDE ON EXPRESS HOLDINGS Co., Ltd. announced that they will report Q2, 2021 results on Nov 13, 2020 