Announcement • Jun 26
MTG Co., Ltd. to Report Q3, 2026 Results on Aug 04, 2026 MTG Co., Ltd. announced that they will report Q3, 2026 results on Aug 04, 2026 Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥7,440, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Personal Products industry in Japan. Total returns to shareholders of 445% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥10,085 per share. Declared Dividend • May 14
Dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 29th September 2026 Payment date: 24th December 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.0%. Reported Earnings • May 13
Second quarter 2026 earnings released: EPS: JP¥98.66 (vs JP¥58.09 in 2Q 2025) Second quarter 2026 results: EPS: JP¥98.66 (up from JP¥58.09 in 2Q 2025). Revenue: JP¥32.1b (up 39% from 2Q 2025). Net income: JP¥3.88b (up 70% from 2Q 2025). Profit margin: 12% (up from 9.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 67% per year whereas the company’s share price has increased by 64% per year. Price Target Changed • Mar 04
Price target increased by 11% to JP¥7,075 Up from JP¥6,400, the current price target is an average from 2 analysts. New target price is 25% above last closing price of JP¥5,670. Stock is up 197% over the past year. The company is forecast to post earnings per share of JP¥270 for next year compared to JP¥202 last year. Reported Earnings • Feb 14
First quarter 2026 earnings released: EPS: JP¥100 (vs JP¥60.00 in 1Q 2025) First quarter 2026 results: EPS: JP¥100 (up from JP¥60.00 in 1Q 2025). Revenue: JP¥34.4b (up 45% from 1Q 2025). Net income: JP¥3.95b (up 66% from 1Q 2025). Profit margin: 12% (up from 10.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year whereas the company’s share price has increased by 58% per year. Announcement • Feb 14
MTG Co., Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending September 30, 2026 MTG Co., Ltd. revised consolidated earnings guidance for the fiscal year ending September 30, 2026. For the period, the company expects net sales to be JPY 128,000 million, operating profit to be JPY 14,000 million, profit attributable to owners of parent to be JPY 9,500 million or JPY 241.82 per basic share. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥5,030, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Personal Products industry in Japan. Total returns to shareholders of 274% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,850 per share. Announcement • Dec 26
MTG Co., Ltd. to Report Q1, 2026 Results on Feb 12, 2026 MTG Co., Ltd. announced that they will report Q1, 2026 results on Feb 12, 2026 Reported Earnings • Dec 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥202 (up from JP¥57.66 in FY 2024). Revenue: JP¥98.8b (up 38% from FY 2024). Net income: JP¥7.93b (up 248% from FY 2024). Profit margin: 8.0% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year whereas the company’s share price has increased by 51% per year. Announcement • Dec 17
MTG Co., Ltd. to Showcase its New Product, ReFa AI Color Recipe Pro at CES 2026 in Las Vegas MTG Co., Ltd. announced that it will exhibit its new product, "ReFa AI Color Recipe PRO," at CES 2026 in Las Vegas, from January 6 to 9, 2026. MTG will showcase its innovative technology that reproduces professional hair coloring techniques through AI, sharing this creation, developed in Japan, with the world. ReFa AI Color Recipe PRO is a next-generation professional hair color AI solution that recreates high-tone color techniques through advanced AI technology. Supervised by SHOKI and developed by strategic partner, FABIA Inc. (HQ: Shibuya, Tokyo), the system utilizes a proprietary algorithmic database that transforms his extensive expertise and experience into data, enabling it to instantly generate the most suitable color formula from approximately 4,500 color recipes. MTG and FABIA Inc. co-developed to create and promote ReFa AI COLOR RECIPE PRO, with the goal of enhancing salon productivity and elevating the overall customer experience. Japan's salon market is seeing rising demand for bright, translucent hair colors like gray blending and high-tone bleach styles, and this AI tool standardizes color results and supports stylist training. It helps salon stylists deliver consistent, high-quality color services, no matter their experience level. By simply taking a photo of the client's hair before the treatment, the AI automatically recommends the optimal color recipe that matches the desired shade. After the coloring process, uploading a photo of the finished result allows the AI to analyze the outcome and provide detailed feedback across three scoring categories. This enables both beginner and experienced stylists to achieve consistent, high-quality results with confidence. The app features an advanced management dashboard that visualizes performance data by salon and by stylist, enabling salons to track technical progress and performance trends over time, as well as providing an educational platform for standardized color training. By developing AI-optimized color formulas, it enhances technical precision, nurtures young talent, and drives sustainable growth and innovation in the beauty industry. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥5,080, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Personal Products industry in Japan. Total returns to shareholders of 299% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,294 per share. Major Estimate Revision • Dec 02
Consensus EPS estimates increase by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥112.6b to JP¥120.2b. EPS estimate increased from JP¥193 to JP¥235 per share. Net income forecast to grow 17% next year vs 14% growth forecast for Personal Products industry in Japan. Consensus price target up from JP¥5,970 to JP¥6,400. Share price rose 12% to JP¥4,435 over the past week. Buy Or Sell Opportunity • Nov 17
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at JP¥4,700. The fair value is estimated to be JP¥6,083, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings are also forecast to grow by 9.7% per annum over the same time period. Reported Earnings • Nov 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥202 (up from JP¥57.66 in FY 2024). Revenue: JP¥98.8b (up 38% from FY 2024). Net income: JP¥7.93b (up 248% from FY 2024). Profit margin: 8.0% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥4,370, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Personal Products industry in Japan. Total returns to shareholders of 269% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,026 per share. Announcement • Nov 11
MTG Co., Ltd., Annual General Meeting, Dec 23, 2025 MTG Co., Ltd., Annual General Meeting, Dec 23, 2025. Buy Or Sell Opportunity • Oct 02
Now 21% undervalued Over the last 90 days, the stock has risen 21% to JP¥4,355. The fair value is estimated to be JP¥5,491, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Sep 23
MTG Co., Ltd. to Report Fiscal Year 2025 Results on Nov 11, 2025 MTG Co., Ltd. announced that they will report fiscal year 2025 results on Nov 11, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 24 December 2025. Payout ratio is a comfortable 7.5% but the company is paying out more than the cash it is generating. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.2%). Price Target Changed • Aug 31
Price target increased by 7.1% to JP¥5,970 Up from JP¥5,575, the current price target is an average from 2 analysts. New target price is 30% above last closing price of JP¥4,590. Stock is up 205% over the past year. The company is forecast to post earnings per share of JP¥161 for next year compared to JP¥57.66 last year. Buy Or Sell Opportunity • Aug 27
Now 22% undervalued Over the last 90 days, the stock has risen 30% to JP¥4,440. The fair value is estimated to be JP¥5,674, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Aug 02
Third quarter 2025 earnings released: EPS: JP¥29.34 (vs JP¥2.36 in 3Q 2024) Third quarter 2025 results: EPS: JP¥29.34 (up from JP¥2.36 in 3Q 2024). Revenue: JP¥23.4b (up 31% from 3Q 2024). Net income: JP¥1.15b (up JP¥1.06b from 3Q 2024). Profit margin: 4.9% (up from 0.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 07
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 44% to JP¥3,725. The fair value is estimated to be JP¥3,002, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 6.0%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 5.1% per annum over the same time period. Announcement • Jun 20
MTG Co., Ltd. to Report Q3, 2025 Results on Jul 31, 2025 MTG Co., Ltd. announced that they will report Q3, 2025 results on Jul 31, 2025 Buy Or Sell Opportunity • May 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 78% to JP¥3,450. The fair value is estimated to be JP¥2,788, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 6.0%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 4.1% per annum over the same time period. Board Change • Apr 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Takeshi Kuroda was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 05
MTG Co., Ltd. to Report Q2, 2025 Results on May 08, 2025 MTG Co., Ltd. announced that they will report Q2, 2025 results on May 08, 2025 Major Estimate Revision • Mar 22
Consensus revenue estimates increase by 16% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥75.8b to JP¥87.6b. EPS estimate increased from JP¥78.07 to JP¥104 per share. Net income forecast to shrink 6.2% next year vs 10% growth forecast for Personal Products industry in Japan . Consensus price target up from JP¥1,600 to JP¥2,900. Share price was steady at JP¥2,580 over the past week. Buy Or Sell Opportunity • Mar 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 71% to JP¥2,599. The fair value is estimated to be JP¥2,131, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 0.5% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥2,553, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Personal Products industry in Japan. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,132 per share. Reported Earnings • Mar 11
First quarter 2025 earnings released: EPS: JP¥60.00 (vs JP¥10.22 in 1Q 2024) First quarter 2025 results: EPS: JP¥60.00 (up from JP¥10.22 in 1Q 2024). Revenue: JP¥23.7b (up 39% from 1Q 2024). Net income: JP¥2.38b (up 489% from 1Q 2024). Profit margin: 10.0% (up from 2.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 05
Now 20% undervalued Over the last 90 days, the stock has risen 17% to JP¥1,840. The fair value is estimated to be JP¥2,303, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 35%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,013, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the Personal Products industry in Japan. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,236 per share. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,770, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 27x in the Personal Products industry in Japan. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,223 per share. Buy Or Sell Opportunity • Dec 13
Now 20% undervalued Over the last 90 days, the stock has risen 16% to JP¥1,770. The fair value is estimated to be JP¥2,223, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 35%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. 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 5.2% 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 High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.2% average weekly change). Reported Earnings • Nov 13
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥73.07 (up from JP¥50.35 in FY 2023). Revenue: JP¥71.9b (up 20% from FY 2023). Net income: JP¥2.89b (up 46% from FY 2023). Profit margin: 4.0% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Nov 12
MTG Co., Ltd. (TSE:7806) announces an Equity Buyback for 750,000 shares, representing 1.87% for ¥1,204.5 million. MTG Co., Ltd. (TSE:7806) announces a share repurchase program. Under the program, the company will repurchase up to 750,000 shares , representing 1.9% of its share capital for ¥1,204.5 million. The shares will be repurchased at a price of ¥1,606 per share. The aim of the buyback is to implement a flexible capital policy in response to changes in the business environment, and improving capital efficiency. The repurchases will take place on November 12, 2024. As of September 30, 2024, the company had 40,103,528 issued shares (excluding treasury stock) and 109,398 shares in treasury. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,785, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Personal Products industry in Japan. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,256 per share. Announcement • Nov 11
MTG Co., Ltd., Annual General Meeting, Dec 23, 2024 MTG Co., Ltd., Annual General Meeting, Dec 23, 2024. Announcement • Sep 21
MTG Co., Ltd. to Report Fiscal Year 2024 Results on Nov 11, 2024 MTG Co., Ltd. announced that they will report fiscal year 2024 results on Nov 11, 2024 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: 23 December 2024. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.0%). Reported Earnings • Aug 02
Third quarter 2024 earnings released: EPS: JP¥7.13 (vs JP¥7.74 in 3Q 2023) Third quarter 2024 results: EPS: JP¥7.13 (down from JP¥7.74 in 3Q 2023). Revenue: JP¥17.8b (up 17% from 3Q 2023). Net income: JP¥281.0m (down 7.9% from 3Q 2023). Profit margin: 1.6% (down from 2.0% in 3Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% 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. Announcement • Jun 20
MTG Co., Ltd. to Report Q3, 2024 Results on Jul 31, 2024 MTG Co., Ltd. announced that they will report Q3, 2024 results on Jul 31, 2024 Reported Earnings • May 12
Second quarter 2024 earnings released: EPS: JP¥24.22 (vs JP¥18.50 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.22 (up from JP¥18.50 in 2Q 2023). Revenue: JP¥15.7b (up 21% from 2Q 2023). Net income: JP¥955.0m (up 31% from 2Q 2023). Profit margin: 6.1% (up from 5.6% in 2Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Declared Dividend • May 12
Dividend of JP¥10.00 announced Dividend of JP¥10.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 23rd December 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.0%. Payout Ratios Payout ratio: 17%. Cash payout ratio: 32%. Price Target Changed • Apr 11
Price target increased by 11% to JP¥1,660 Up from JP¥1,500, the current price target is an average from 2 analysts. New target price is 5.5% above last closing price of JP¥1,573. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥61.04 for next year compared to JP¥50.35 last year. Buy Or Sell Opportunity • Mar 28
Now 20% undervalued Over the last 90 days, the stock has risen 7.5% to JP¥1,572. The fair value is estimated to be JP¥1,971, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 34%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Announcement • Mar 27
MTG Co., Ltd. to Report Q2, 2024 Results on May 10, 2024 MTG Co., Ltd. announced that they will report Q2, 2024 results on May 10, 2024 Buy Or Sell Opportunity • Mar 02
Now 21% undervalued Over the last 90 days, the stock has risen 11% to JP¥1,523. The fair value is estimated to be JP¥1,930, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 34%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Buy Or Sell Opportunity • Feb 14
Now 22% undervalued Over the last 90 days, the stock has risen 10% to JP¥1,536. The fair value is estimated to be JP¥1,958, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 34%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Feb 08
First quarter 2024 earnings released: EPS: JP¥12.91 (vs JP¥10.84 in 1Q 2023) First quarter 2024 results: EPS: JP¥12.91 (up from JP¥10.84 in 1Q 2023). Revenue: JP¥17.1b (up 15% from 1Q 2023). Net income: JP¥509.0m (up 19% from 1Q 2023). Profit margin: 3.0% (in line with 1Q 2023). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 09
Now 20% undervalued Over the last 90 days, the stock is up 7.5%. The fair value is estimated to be JP¥1,822, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 19% per annum over the same time period. Reported Earnings • Dec 28
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥50.35 (down from JP¥68.49 in FY 2022). Revenue: JP¥60.2b (up 23% from FY 2022). Net income: JP¥1.98b (down 26% from FY 2022). Profit margin: 3.3% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Personal 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 increased by 9% per year, which means it is well ahead of earnings. Announcement • Dec 24
MTG Co., Ltd. to Report Q1, 2024 Results on Feb 06, 2024 MTG Co., Ltd. announced that they will report Q1, 2024 results on Feb 06, 2024 Major Estimate Revision • Dec 08
Consensus EPS estimates fall by 21%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥63.3b to JP¥67.4b. EPS estimate fell from JP¥70.59 to JP¥55.80 per share. Net income forecast to grow 11% next year vs 16% growth forecast for Personal Products industry in Japan. Consensus price target up from JP¥1,500 to JP¥1,600. Share price was steady at JP¥1,355 over the past week. Announcement • Nov 11
MTG Co., Ltd., Annual General Meeting, Dec 21, 2023 MTG Co., Ltd., Annual General Meeting, Dec 21, 2023. Reported Earnings • Nov 10
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥50.35 (down from JP¥68.49 in FY 2022). Revenue: JP¥60.2b (up 23% from FY 2022). Net income: JP¥1.98b (down 26% from FY 2022). Profit margin: 3.3% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Personal 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. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 25 December 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.7%). Announcement • Sep 14
MTG Co., Ltd. to Report Fiscal Year 2023 Results on Nov 09, 2023 MTG Co., Ltd. announced that they will report fiscal year 2023 results on Nov 09, 2023 Reported Earnings • Aug 09
Third quarter 2023 earnings released: EPS: JP¥7.74 (vs JP¥0.28 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥7.74 (up from JP¥0.28 loss in 3Q 2022). Revenue: JP¥15.3b (up 28% from 3Q 2022). Net income: JP¥305.0m (up JP¥316.0m from 3Q 2022). Profit margin: 2.0% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
MTG Co., Ltd. to Report Q3, 2023 Results on Aug 04, 2023 MTG Co., Ltd. announced that they will report Q3, 2023 results on Aug 04, 2023 Major Estimate Revision • May 17
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from JP¥55.4b to JP¥57.2b. EPS estimate increased from JP¥45.05 to JP¥56.97 per share. Net income forecast to grow 33% next year vs 25% growth forecast for Personal Products industry in Japan. Consensus price target of JP¥1,400 unchanged from last update. Share price rose 7.5% to JP¥1,514 over the past week. Reported Earnings • May 12
Second quarter 2023 earnings released: EPS: JP¥18.50 (vs JP¥14.62 in 2Q 2022) Second quarter 2023 results: EPS: JP¥18.50 (up from JP¥14.62 in 2Q 2022). Revenue: JP¥13.0b (up 30% from 2Q 2022). Net income: JP¥729.0m (up 28% from 2Q 2022). Profit margin: 5.6% (down from 5.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
First quarter 2023 earnings released: EPS: JP¥10.84 (vs JP¥34.85 in 1Q 2022) First quarter 2023 results: EPS: JP¥10.84 (down from JP¥34.85 in 1Q 2022). Revenue: JP¥14.8b (up 16% from 1Q 2022). Net income: JP¥427.0m (down 69% from 1Q 2022). Profit margin: 2.9% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Personal Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.