Reported Earnings • May 15
First quarter 2026 earnings released: EPS: JP¥204 (vs JP¥215 in 1Q 2025) First quarter 2026 results: EPS: JP¥204 (down from JP¥215 in 1Q 2025). Revenue: JP¥47.9b (up 7.0% from 1Q 2025). Net income: JP¥4.46b (down 4.7% from 1Q 2025). Profit margin: 9.3% (down from 10% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 29
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: JP¥240 (up from JP¥158 in FY 2024). Revenue: JP¥179.2b (up 5.9% from FY 2024). Net income: JP¥5.24b (up 51% from FY 2024). Profit margin: 2.9% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Feb 15
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: JP¥240 (up from JP¥158 in FY 2024). Revenue: JP¥179.2b (up 5.9% from FY 2024). Net income: JP¥5.24b (up 51% from FY 2024). Profit margin: 2.9% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. Announcement • Feb 13
Earth Corporation, Annual General Meeting, Mar 25, 2026 Earth Corporation, Annual General Meeting, Mar 25, 2026. Announcement • Dec 25
Earth Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Earth Corporation announced that they will report fiscal year 2025 results on Feb 13, 2026 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥125 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 March 2026. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Reported Earnings • Nov 14
Third quarter 2025 earnings released: JP¥16.07 loss per share (vs JP¥18.66 loss in 3Q 2024) Third quarter 2025 results: JP¥16.07 loss per share (improved from JP¥18.66 loss in 3Q 2024). Revenue: JP¥40.3b (up 6.7% from 3Q 2024). Net loss: JP¥351.0m (loss narrowed 14% from 3Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 03
Price target increased by 8.2% to JP¥5,680 Up from JP¥5,250, the current price target is an average from 3 analysts. New target price is 5.2% above last closing price of JP¥5,400. Stock is up 2.1% over the past year. The company is forecast to post earnings per share of JP¥254 for next year compared to JP¥158 last year. Announcement • Sep 02
Earth Corporation to Report Q3, 2025 Results on Nov 11, 2025 Earth Corporation announced that they will report Q3, 2025 results on Nov 11, 2025 Declared Dividend • Aug 10
Dividend of JP¥125 announced Shareholders will receive a dividend of JP¥125. Ex-date: 29th December 2025 Payment date: 13th March 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: JP¥215 (vs JP¥186 in 2Q 2024) Second quarter 2025 results: EPS: JP¥215 (up from JP¥186 in 2Q 2024). Revenue: JP¥57.9b (up 5.2% from 2Q 2024). Net income: JP¥4.70b (up 14% from 2Q 2024). Profit margin: 8.1% (up from 7.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 25
Earth Corporation to Report Q2, 2025 Results on Aug 08, 2025 Earth Corporation announced that they will report Q2, 2025 results on Aug 08, 2025 Reported Earnings • May 13
First quarter 2025 earnings released: EPS: JP¥215 (vs JP¥160 in 1Q 2024) First quarter 2025 results: EPS: JP¥215 (up from JP¥160 in 1Q 2024). Revenue: JP¥44.8b (up 6.5% from 1Q 2024). Net income: JP¥4.68b (up 33% from 1Q 2024). Profit margin: 10% (up from 8.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Buy Or Sell Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to JP¥4,770. The fair value is estimated to be JP¥6,069, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has declined by 8.4%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Mar 26
Earth Corporation to Report Q1, 2025 Results on May 12, 2025 Earth Corporation announced that they will report Q1, 2025 results on May 12, 2025 Major Estimate Revision • Mar 07
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥172.3b to JP¥175.7b. EPS estimate increased from JP¥167 to JP¥188 per share. Net income forecast to grow 18% next year vs 9.4% growth forecast for Household Products industry in Japan. Consensus price target down from JP¥5,720 to JP¥5,520. Share price was steady at JP¥5,030 over the past week. Announcement • Feb 28
Earth Corporation (TSE:4985) completed the acquisition of an additional 16.07% stake in protoleaf Inc. from Takashi Sato and Yuichiro Kano. Earth Corporation (TSE:4985) agreed to acquire an additional 16.07% stake in protoleaf Inc. from Takashi Sato and Yuichiro Kano on December 10, 2024. Upon completion, Earth Corporation will own 50.22321% stake in protoleaf Inc.
For the period ending June 30, 2024, protoleaf Inc. reported total revenue of ¥3.86 billion, EBIT of ¥132 million and net income of ¥32 million. As of June 30, 2024, protoleaf Inc. reported total assets of ¥1.94 billion and total common equity of ¥447 million.
Earth Corporation (TSE:4985) completed the acquisition of an additional 16.07% stake in protoleaf Inc. from Takashi Sato and Yuichiro Kano on February 28, 2025 Buy Or Sell Opportunity • Feb 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.9% to JP¥4,990. The fair value is estimated to be JP¥6,288, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years. Earnings per share has declined by 8.4%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Feb 15
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥158 (down from JP¥186 in FY 2023). Revenue: JP¥169.3b (up 6.9% from FY 2023). Net income: JP¥3.48b (down 15% from FY 2023). Profit margin: 2.1% (down from 2.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. Announcement • Feb 13
Earth Corporation, Annual General Meeting, Mar 27, 2025 Earth Corporation, Annual General Meeting, Mar 27, 2025. Buy Or Sell Opportunity • Jan 07
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at JP¥5,300. The fair value is estimated to be JP¥6,691, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.0% over the last 3 years. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 10 March 2025. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Announcement • Dec 18
Earth Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Earth Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Major Estimate Revision • Nov 30
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥164.2b to JP¥167.1b. EPS estimate increased from JP¥144 to JP¥161 per share. Net income forecast to shrink 28% next year vs 11% growth forecast for Household Products industry in Japan . Consensus price target up from JP¥5,417 to JP¥5,633. Share price was steady at JP¥5,400 over the past week. Reported Earnings • Nov 13
Third quarter 2024 earnings released: JP¥18.66 loss per share (vs JP¥26.76 loss in 3Q 2023) Third quarter 2024 results: JP¥18.66 loss per share (improved from JP¥26.76 loss in 3Q 2023). Revenue: JP¥37.8b (up 3.6% from 3Q 2023). Net loss: JP¥407.0m (loss narrowed 31% from 3Q 2023). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Major Estimate Revision • Oct 24
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥125 to JP¥144. Revenue forecast steady at JP¥164.2b. Net income forecast to shrink 33% next year vs 1.0% growth forecast for Household Products industry in Japan . Consensus price target up from JP¥5,033 to JP¥5,417. Share price fell 2.1% to JP¥5,230 over the past week. Major Estimate Revision • Oct 11
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥113 to JP¥125. Revenue forecast steady at JP¥164.0b. Net income forecast to shrink 46% next year vs 5.7% growth forecast for Household Products industry in Japan . Consensus price target up from JP¥4,460 to JP¥5,033. Share price was steady at JP¥5,360 over the past week. Major Estimate Revision • Sep 04
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥98.11 to JP¥113. Revenue forecast steady at JP¥163.1b. Net income forecast to shrink 49% next year vs 5.7% growth forecast for Household Products industry in Japan . Consensus price target up from JP¥4,093 to JP¥4,460. Share price rose 3.9% to JP¥5,290 over the past week. Price Target Changed • Sep 03
Price target increased by 11% to JP¥4,460 Up from JP¥4,010, the current price target is an average from 3 analysts. New target price is 15% below last closing price of JP¥5,230. Stock is up 5.2% over the past year. The company is forecast to post earnings per share of JP¥113 for next year compared to JP¥186 last year. Announcement • Aug 27
Earth Corporation to Report Q3, 2024 Results on Nov 11, 2024 Earth Corporation announced that they will report Q3, 2024 results on Nov 11, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥186 (vs JP¥142 in 2Q 2023) Second quarter 2024 results: EPS: JP¥186 (up from JP¥142 in 2Q 2023). Revenue: JP¥55.0b (up 11% from 2Q 2023). Net income: JP¥4.11b (up 31% from 2Q 2023). Profit margin: 7.5% (up from 6.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 11
Dividend of JP¥120 announced Shareholders will receive a dividend of JP¥120. Ex-date: 27th December 2024 Payment date: 10th March 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (174% cash payout ratio). The dividend has increased over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 01
Now 22% undervalued Over the last 90 days, the stock has risen 9.3% to JP¥4,830. The fair value is estimated to be JP¥6,194, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 18%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Announcement • Jun 02
Earth Corporation to Report Q2, 2024 Results on Aug 09, 2024 Earth Corporation announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: JP¥160 (vs JP¥176 in 1Q 2023) First quarter 2024 results: EPS: JP¥160 (down from JP¥176 in 1Q 2023). Revenue: JP¥42.0b (up 3.0% from 1Q 2023). Net income: JP¥3.53b (down 9.2% from 1Q 2023). Profit margin: 8.4% (down from 9.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥186 (down from JP¥240 in FY 2022). Revenue: JP¥158.3b (up 3.9% from FY 2022). Net income: JP¥4.10b (down 23% from FY 2022). Profit margin: 2.6% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 14% per year. Price Target Changed • Mar 25
Price target decreased by 14% to JP¥3,977 Down from JP¥4,633, the current price target is an average from 3 analysts. New target price is 7.3% below last closing price of JP¥4,290. Stock is down 8.1% over the past year. The company is forecast to post earnings per share of JP¥89.25 for next year compared to JP¥186 last year. Buy Or Sell Opportunity • Mar 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.3% to JP¥4,355. The fair value is estimated to be JP¥5,469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Announcement • Mar 08
Earth Corporation (TSE:4985) announces an Equity Buyback for 500,000 shares, representing 2.26% for ¥2,000 million. Earth Corporation (TSE:4985) announces an share repurchase program. Under the program the company will repurchase 500,000 shares, representing 2.26% of the outstanding shares, for ¥2,000 million. The purpose of the program is to carry out flexible capital policies in response to changes in the business environment. The program is valid till July 31, 2024. As of December 31, 2023, the company had 22,126,804 shares outstanding (excluding treasury shares) and 14,296 shares in treasury. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 51%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥159.7b to JP¥161.7b. EPS estimate fell from JP¥190 to JP¥94.00 per share. Net income forecast to shrink 49% next year vs 9.3% growth forecast for Household Products industry in Japan . Consensus price target down from JP¥4,633 to JP¥4,367. Share price was steady at JP¥4,180 over the past week. Announcement • Feb 28
Earth Corporation to Report Q1, 2024 Results on May 10, 2024 Earth Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 14
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥186 (down from JP¥240 in FY 2022). Revenue: JP¥158.3b (up 3.9% from FY 2022). Net income: JP¥4.10b (down 23% from FY 2022). Profit margin: 2.6% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year and the company’s share price has also fallen by 12% per year. Price Target Changed • Jan 26
Price target decreased by 10% to JP¥4,633 Down from JP¥5,155, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥4,440. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥142 for next year compared to JP¥240 last year. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥118 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 11 March 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.2%). Price Target Changed • Dec 16
Price target decreased by 7.4% to JP¥5,155 Down from JP¥5,565, the current price target is an average from 2 analysts. New target price is 11% above last closing price of JP¥4,625. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥136 for next year compared to JP¥240 last year. Major Estimate Revision • Dec 02
Consensus EPS estimates fall by 24% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥244 to JP¥186 per share. Revenue forecast steady at JP¥156.2b. Net income forecast to grow 67% next year vs 20% growth forecast for Household Products industry in Japan. Consensus price target down from JP¥5,565 to JP¥5,165. Share price rose 2.1% to JP¥4,865 over the past week. Announcement • Dec 01
Earth Corporation to Report Fiscal Year 2023 Results on Feb 13, 2024 Earth Corporation announced that they will report fiscal year 2023 results on Feb 13, 2024 Price Target Changed • Dec 01
Price target decreased by 8.4% to JP¥5,165 Down from JP¥5,640, the current price target is an average from 4 analysts. New target price is 6.2% above last closing price of JP¥4,865. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of JP¥244 for next year compared to JP¥240 last year. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: JP¥26.75 loss per share (down from JP¥2.18 profit in 3Q 2022). Revenue: JP¥36.4b (up 3.7% from 3Q 2022). Net loss: JP¥592.0m (down JP¥640.0m from profit in 3Q 2022). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 98%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Household Products industry in Japan. 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 9% per year, which means it has not declined as severely as earnings. Announcement • Aug 27
Earth Corporation to Report Q3, 2023 Results on Nov 09, 2023 Earth Corporation announced that they will report Q3, 2023 results on Nov 09, 2023 Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥142 (down from JP¥219 in 2Q 2022). Revenue: JP¥49.5b (down 2.4% from 2Q 2022). Net income: JP¥3.15b (down 35% from 2Q 2022). Profit margin: 6.4% (down from 9.5% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Price Target Changed • Jun 02
Price target increased by 8.7% to JP¥5,590 Up from JP¥5,143, the current price target is an average from 2 analysts. New target price is 12% above last closing price of JP¥4,980. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of JP¥254 for next year compared to JP¥240 last year. Announcement • May 31
Earth Corporation to Report Q2, 2023 Results on Aug 08, 2023 Earth Corporation announced that they will report Q2, 2023 results on Aug 08, 2023 Reported Earnings • May 13
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥176 (up from JP¥171 in 1Q 2022). Revenue: JP¥40.8b (up 5.7% from 1Q 2022). Net income: JP¥3.89b (up 3.3% from 1Q 2022). Profit margin: 9.5% (in line with 1Q 2022). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 12
Earth Corporation Provides Dividend Guidance for the Fiscal Year Ending December 31, 2023 Earth Corporation provided dividend guidance for the fiscal year ending December 31, 2023. For the year, the company expects to pay dividend of JPY 118.00 per share against JPY 118.00 per share paid a year ago. Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥279 to JP¥251. Revenue forecast unchanged from JP¥159.2b at last update. Net income forecast to grow 4.3% next year vs 8.4% growth forecast for Household Products industry in Japan. Consensus price target of JP¥5,023 unchanged from last update. Share price was steady at JP¥4,675 over the past week. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥161.3b to JP¥159.2b. EPS estimate also fell from JP¥279 per share to JP¥251 per share. Net income forecast to grow 4.3% next year vs 8.4% growth forecast for Household Products industry in Japan. Consensus price target down from JP¥5,143 to JP¥5,023. Share price rose 2.0% to JP¥4,765 over the past week. Reported Earnings • Mar 31
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: JP¥152.3b (down 25% from FY 2021). Net income: JP¥5.30b (down 26% from FY 2021). Profit margin: 3.5% (in line with FY 2021). Revenue was in line with analyst estimates. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. Major Estimate Revision • Mar 08
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥165.6b to JP¥161.3b. EPS estimate also fell from JP¥317 per share to JP¥279 per share. Net income forecast to grow 16% next year vs 17% growth forecast for Household Products industry in Japan. Consensus price target down from JP¥5,310 to JP¥5,143. Share price was steady at JP¥4,800 over the past week. Buying Opportunity • Mar 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be JP¥5,954, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Earnings per share has declined by 5.1%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Announcement • Feb 15
Earth Corporation, Annual General Meeting, Mar 24, 2023 Earth Corporation, Annual General Meeting, Mar 24, 2023. Reported Earnings • Feb 14
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥240 (down from JP¥324 in FY 2021). Revenue: JP¥152.3b (down 25% from FY 2021). Net income: JP¥5.30b (down 26% from FY 2021). Profit margin: 3.5% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 7% per year. Buying Opportunity • Jan 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be JP¥6,106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥118 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 09 March 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.1%). Announcement • Dec 06
Earth Corporation to Report Fiscal Year 2022 Results on Feb 13, 2023 Earth Corporation announced that they will report fiscal year 2022 results on Feb 13, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥2.18 (down from JP¥48.89 in 3Q 2021). Revenue: JP¥35.1b (down 29% from 3Q 2021). Net income: JP¥48.0m (down 96% from 3Q 2021). Profit margin: 0.1% (down from 2.2% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 89%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Naoko Mikami was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥2.18 (down from JP¥48.89 in 3Q 2021). Revenue: JP¥35.1b (down 29% from 3Q 2021). Net income: JP¥48.0m (down 96% from 3Q 2021). Profit margin: 0.1% (down from 2.2% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 89%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Announcement • Nov 09
Earth Corporation (TSE:4985) agreed to acquire BARTH Business of TWO Inc. Earth Corporation (TSE:4985) agreed to acquire BARTH Business of TWO Inc. on November 8, 2022. Announcement • Sep 27
Earth Corporation Announces Redesignation of Executive Officers, Effective October 1, 2022 Earth Corporation announced redesignation of Yoshinori Kawamura as Director on Board & Managing Executive Officer, in charge of overseas business of the Company from Director on Board & Managing Executive Officer, General Manager of Overseas Management Department, in charge of overseas business of the Company; Kentaro Sato as Executive Officer, Director General of Global Management Headquarters & President of Earth (Thailand) Co. Ltd. From Executive Officer, President of Earth (Thailand) Co. Ltd.; Yoshiaki Sakurai as Executive Officer, General Manager of Group Business Development Dept. in Group Management Headquarters & Chief Manager of MA-T Business Center from Executive Officer, General Manager of Group Business Development Dept. in Group Management Headquarters & Chief Manager of CSR/Sustainability Promotion Office and MA-T Business Center; Jun Hiramatsu as Executive Officer, General Manager of CSR & Sustainability Promotion Dept. in Group Management Headquarters from Executive Officer, General Manager of R&E Dept. in Sales Headquarters; Shotaro Okada as Executive Officer, Vice President of EARTH HOME PRODUCTS(MALAYSIA)SDN.BHD. from Executive Officer, General Manager of Sales Strategy Dept. in Sales Headquarters; Tomokazu Nohso as Executive Officer, General Representative of China, General Manager of Earth Corporation (Shanghai), in charge of new projects from Executive Officer, General Representative of China, General Manager of Earth Corporation (Shanghai) and Shin Mukai as Executive Officer, General Manager of New Channel Dept. & Chief Manager of Business Planning Office from Executive Officer, General Manager of New Channel Dept. and Business Promotion Division, Chief Manager of Business Planning Office, effective October 1, 2022. Announcement • Aug 11
Earth Corporation to Report Q3, 2022 Results on Nov 08, 2022 Earth Corporation announced that they will report Q3, 2022 results on Nov 08, 2022 Reported Earnings • Aug 07
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: JP¥219 (down from JP¥326 in 2Q 2021). Revenue: JP¥50.7b (down 24% from 2Q 2021). Net income: JP¥4.82b (down 33% from 2Q 2021). Profit margin: 9.5% (down from 11% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10.0%. Over the next year, revenue is expected to shrink by 11% compared to a 5.8% growth forecast for the 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 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Earth Corporation to Report Q2, 2022 Results on Aug 05, 2022 Earth Corporation announced that they will report Q2, 2022 results on Aug 05, 2022 Price Target Changed • May 25
Price target decreased to JP¥6,017 Down from JP¥6,970, the current price target is an average from 3 analysts. New target price is 16% above last closing price of JP¥5,200. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥323 for next year compared to JP¥324 last year. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥171 (down from JP¥253 in 1Q 2021). Revenue: JP¥38.6b (down 22% from 1Q 2021). Net income: JP¥3.77b (down 32% from 1Q 2021). Profit margin: 9.8% (down from 11% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%. Over the next year, revenue is expected to shrink by 19% compared to a 5.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥6,970 Down from JP¥7,503, the current price target is an average from 3 analysts. New target price is 30% above last closing price of JP¥5,360. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥330 for next year compared to JP¥324 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 12 non-independent directors. Director Yoshiyuki Furuya was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
