Upcoming Dividend • Jun 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 29 September 2026. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (3.4%). Announcement • Jun 03
IRRC Corporation to Report Fiscal Year 2026 Results on Aug 14, 2026 IRRC Corporation announced that they will report fiscal year 2026 results on Aug 14, 2026 Reported Earnings • May 20
Third quarter 2026 earnings released: EPS: JP¥14.68 (vs JP¥17.35 in 3Q 2025) Third quarter 2026 results: EPS: JP¥14.68 (down from JP¥17.35 in 3Q 2025). Revenue: JP¥2.82b (up 22% from 3Q 2025). Net income: JP¥120.0m (down 16% from 3Q 2025). Profit margin: 4.3% (down from 6.2% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to JP¥771. The fair value is estimated to be JP¥968, however this is not to be taken as a buy 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 57%. Reported Earnings • Feb 16
Second quarter 2026 earnings released: EPS: JP¥13.94 (vs JP¥5.36 in 2Q 2025) Second quarter 2026 results: EPS: JP¥13.94 (up from JP¥5.36 in 2Q 2025). Revenue: JP¥2.71b (up 23% from 2Q 2025). Net income: JP¥114.0m (up 159% from 2Q 2025). Profit margin: 4.2% (up from 2.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
First quarter 2026 earnings released: EPS: JP¥6.60 (vs JP¥13.65 in 1Q 2025) First quarter 2026 results: EPS: JP¥6.60 (down from JP¥13.65 in 1Q 2025). Revenue: JP¥2.57b (up 13% from 1Q 2025). Net income: JP¥54.0m (down 52% from 1Q 2025). Profit margin: 2.1% (down from 4.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 04
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥53.09 (up from JP¥42.36 in FY 2024). Revenue: JP¥9.42b (up 19% from FY 2024). Net income: JP¥435.0m (up 24% from FY 2024). Profit margin: 4.6% (up from 4.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 16
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥53.09 (up from JP¥42.36 in FY 2024). Revenue: JP¥9.42b (up 19% from FY 2024). Net income: JP¥435.0m (up 24% from FY 2024). Profit margin: 4.6% (up from 4.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥866, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Insurance industry in Japan. Total returns to shareholders of 19% over the past three years. Announcement • Aug 14
IRRC Corporation, Annual General Meeting, Sep 26, 2025 IRRC Corporation, Annual General Meeting, Sep 26, 2025. Buy Or Sell Opportunity • Aug 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to JP¥756. The fair value is estimated to be JP¥627, however this is not to be taken as a sell 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 35%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 29 September 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (3.9%). Buy Or Sell Opportunity • Jun 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to JP¥777. The fair value is estimated to be JP¥632, however this is not to be taken as a sell 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 35%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Announcement • Jun 03
IRRC Corporation to Report Fiscal Year 2025 Results on Aug 14, 2025 IRRC Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Aug 14, 2025 Buy Or Sell Opportunity • May 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to JP¥765. The fair value is estimated to be JP¥632, however this is not to be taken as a sell 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 35%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Reported Earnings • May 21
Third quarter 2025 earnings released: EPS: JP¥17.35 (vs JP¥13.74 in 3Q 2024) Third quarter 2025 results: EPS: JP¥17.35 (up from JP¥13.74 in 3Q 2024). Revenue: JP¥2.31b (up 10% from 3Q 2024). Net income: JP¥142.0m (up 26% from 3Q 2024). Profit margin: 6.2% (up from 5.4% 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 3.9% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 16
Second quarter 2025 earnings released: EPS: JP¥5.36 (vs JP¥11.55 in 2Q 2024) Second quarter 2025 results: EPS: JP¥5.36 (down from JP¥11.55 in 2Q 2024). Revenue: JP¥2.21b (up 8.1% from 2Q 2024). Net income: JP¥44.0m (down 54% from 2Q 2024). Profit margin: 2.0% (down from 4.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jan 16
IRRC Corporation (TSE:7325) announces an Equity Buyback for 35,000 shares, representing 0.43% for ¥23.63 million. IRRC Corporation (TSE:7325) announces a share repurchase program. Under the program, the company will repurchase up to 35,000 shares, representing 0.43% of its issued share capital for ¥23.63 million at a price of ¥675 per share. The purpose of the program is to improving capital efficiency. The repurchase program will expire on January 17, 2025. As of June 30, 2024, the company had 8,207,333 shares outstanding (excluding treasury stock) and 500,667 shares in treasury. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥5.61b market cap, or US$35.5m). New Risk • Nov 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥5.47b market cap, or US$36.1m). Reported Earnings • Oct 03
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥42.36 (up from JP¥1.85 in FY 2023). Revenue: JP¥7.92b (up 32% from FY 2023). Net income: JP¥351.0m (up JP¥335.0m from FY 2023). Profit margin: 4.4% (up from 0.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 60%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 21% 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 • Aug 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥42.36 (up from JP¥1.85 in FY 2023). Revenue: JP¥7.92b (up 32% from FY 2023). Net income: JP¥351.0m (up JP¥335.0m from FY 2023). Profit margin: 4.4% (up from 0.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 60%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 21% 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 26
IRRC Corporation, Annual General Meeting, Sep 26, 2024 IRRC Corporation, Annual General Meeting, Sep 26, 2024. New Risk • Aug 26
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 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (JP¥7.00b market cap, or US$48.6m). Buy Or Sell Opportunity • Aug 26
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥850. The fair value is estimated to be JP¥658, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 38%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥591, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Insurance industry in Japan. Total loss to shareholders of 30% over the past three years. Announcement • Aug 02
IRRC Corporation (TSE:7325) completed the acquisition of walk-in insurance shop business operated by Jinsei Sekkei Co., Ltd for ¥100 million. IRRC Corporation (TSE:7325) entered into a memorandum of understanding to acquire to acquire walk-in insurance shop business operated by Jinsei Sekkei Co., Ltd on June 14, 2024.
The expected completion of the transaction is August 1, 2024.
IRRC Corporation (TSE:7325) completed the acquisition of walk-in insurance shop business operated by Jinsei Sekkei Co., Ltd for ¥100 million on August 1, 2024. As of March 31, 2024, walk-in insurance shop business reported sales of ¥184 million and operating loss of ¥1 million. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 30 September 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.1%). Announcement • Jun 05
IRRC Corporation to Report Fiscal Year 2024 Results on Aug 14, 2024 IRRC Corporation announced that they will report fiscal year 2024 results on Aug 14, 2024 Reported Earnings • May 21
Third quarter 2024 earnings released: EPS: JP¥13.74 (vs JP¥8.41 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥13.74 (up from JP¥8.41 loss in 3Q 2023). Revenue: JP¥2.09b (up 42% from 3Q 2023). Net income: JP¥113.0m (up JP¥186.0m from 3Q 2023). Profit margin: 5.4% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • May 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risks Dividend is not well covered by earnings (245% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (JP¥5.98b market cap, or US$37.9m). New Risk • Mar 07
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 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (245% payout ratio). Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (JP¥7.73b market cap, or US$52.3m). Announcement • Feb 24
IRRC Corporation to Report Q3, 2024 Results on May 15, 2024 IRRC Corporation announced that they will report Q3, 2024 results on May 15, 2024 Reported Earnings • Feb 17
Second quarter 2024 earnings released: EPS: JP¥11.55 (vs JP¥3.22 in 2Q 2023) Second quarter 2024 results: EPS: JP¥11.55 (up from JP¥3.22 in 2Q 2023). Revenue: JP¥2.05b (up 29% from 2Q 2023). Net income: JP¥96.0m (up 243% from 2Q 2023). Profit margin: 4.7% (up from 1.8% in 2Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 46% 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. Buy Or Sell Opportunity • Feb 15
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to JP¥749. The fair value is estimated to be JP¥591, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Announcement • Nov 30
IRRC Corporation to Report Q2, 2024 Results on Feb 14, 2024 IRRC Corporation announced that they will report Q2, 2024 results on Feb 14, 2024 Reported Earnings • Nov 19
First quarter 2024 earnings released: EPS: JP¥1.67 (vs JP¥5.32 in 1Q 2023) First quarter 2024 results: EPS: JP¥1.67 (down from JP¥5.32 in 1Q 2023). Revenue: JP¥1.53b (up 18% from 1Q 2023). Net income: JP¥14.0m (down 70% from 1Q 2023). Profit margin: 0.9% (down from 3.5% in 1Q 2023). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
IRRC Corporation to Report Q1, 2024 Results on Nov 14, 2023 IRRC Corporation announced that they will report Q1, 2024 results on Nov 14, 2023 Announcement • Aug 19
IRRC Corporation (TSE:7325) announces an Equity Buyback for 200,000 shares, representing 2.38% for ¥160 million. IRRC Corporation (TSE:7325) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 2.38% of its issued share capital for ¥160 million. The purpose of the program is to improving capital efficiency and returning profits to shareholders. The repurchase program will expire on February 20, 2024. As of June 30, 2023, the company had 8,407,333 shares outstanding(excluding treasury stock) and 300,667 shares in treasury. Announcement • Aug 16
IRRC Corporation, Annual General Meeting, Sep 28, 2023 IRRC Corporation, Annual General Meeting, Sep 28, 2023. Reported Earnings • Aug 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥1.85 (down from JP¥29.83 in FY 2022). Revenue: JP¥6.00b (up 16% from FY 2022). Net income: JP¥16.0m (down 94% from FY 2022). Profit margin: 0.3% (down from 4.9% in FY 2022). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% 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. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥15.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 30 September 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (4.1%). Announcement • Jun 03
IRRC Corporation to Report Fiscal Year 2023 Results on Aug 14, 2023 IRRC Corporation announced that they will report fiscal year 2023 results on Aug 14, 2023 Reported Earnings • May 19
Third quarter 2023 earnings released: JP¥8.41 loss per share (vs JP¥8.30 profit in 3Q 2022) Third quarter 2023 results: JP¥8.41 loss per share (down from JP¥8.30 profit in 3Q 2022). Revenue: JP¥1.47b (up 13% from 3Q 2022). Net loss: JP¥73.0m (down 203% from profit in 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, while revenues in the Insurance industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 16% per year. Reported Earnings • Feb 17
Second quarter 2023 earnings released: EPS: JP¥3.22 (vs JP¥6.56 in 2Q 2022) Second quarter 2023 results: EPS: JP¥3.22 (down from JP¥6.56 in 2Q 2022). Revenue: JP¥1.59b (up 24% from 2Q 2022). Net income: JP¥28.0m (down 50% from 2Q 2022). Profit margin: 1.8% (down from 4.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, while revenues in the Insurance industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • Feb 15
IRRC Corporation (TSE:7325) announces an Equity Buyback for 500,000 shares, representing 5.74% for ¥400 million. IRRC Corporation (TSE:7325) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 5.74% of its issued share capital for ¥400 million. The purpose of the program is to improving capital efficiency and returning profits to shareholders. The repurchase program will expire on August 14, 2023. As of December 31, 2022, the company had 8,707,633 shares outstanding and 367 shares in treasury. Reported Earnings • Nov 16
First quarter 2023 earnings released: EPS: JP¥5.32 (vs JP¥6.44 in 1Q 2022) First quarter 2023 results: EPS: JP¥5.32 (down from JP¥6.44 in 1Q 2022). Revenue: JP¥1.30b (up 3.4% from 1Q 2022). Net income: JP¥46.0m (down 16% from 1Q 2022). Profit margin: 3.5% (down from 4.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 06
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥29.83 (up from JP¥27.29 in FY 2021). Revenue: JP¥5.20b (up 12% from FY 2021). Net income: JP¥255.0m (up 9.4% from FY 2021). Profit margin: 4.9% (down from 5.0% 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 15%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Insurance industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Aug 14
IRRC Corporation, Annual General Meeting, Sep 29, 2022 IRRC Corporation, Annual General Meeting, Sep 29, 2022. Reported Earnings • Aug 14
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥29.83 (up from JP¥27.29 in FY 2021). Revenue: JP¥5.20b (up 12% from FY 2021). Net income: JP¥255.0m (up 9.4% from FY 2021). Profit margin: 4.9% (down from 5.0% 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 15%. Over the next year, revenue is forecast to grow 7.7%, compared to a 4.7% growth forecast for the insurance 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. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (4.2%). Announcement • Jun 03
IRRC Corporation to Report Fiscal Year 2022 Results on Aug 12, 2022 IRRC Corporation announced that they will report fiscal year 2022 results on Aug 12, 2022 Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
IRRC Corporation to Report Q3, 2022 Results on May 13, 2022 IRRC Corporation announced that they will report Q3, 2022 results on May 13, 2022 Reported Earnings • Feb 16
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: JP¥6.56 (up from JP¥3.63 in 2Q 2021). Revenue: JP¥1.28b (up 13% from 2Q 2021). Net income: JP¥56.0m (up 81% from 2Q 2021). Profit margin: 4.4% (up from 2.7% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 21%, compared to a 1.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Nov 15
First quarter 2022 earnings released: EPS JP¥6.44 (vs JP¥0.47 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥1.26b (up 23% from 1Q 2021). Net income: JP¥55.0m (up JP¥51.0m from 1Q 2021). Profit margin: 4.4% (up from 0.4% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Oct 05
Full year 2021 earnings released: EPS JP¥27.29 (vs JP¥37.83 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥4.64b (up 11% from FY 2020). Net income: JP¥233.0m (down 28% from FY 2020). Profit margin: 5.0% (down from 7.7% in FY 2020). The decrease in margin was driven by higher expenses. 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 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 30 September 2021. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (4.6%). Reported Earnings • May 17
Third quarter 2021 earnings released: EPS JP¥16.28 (vs JP¥14.17 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JP¥1.23b (up 11% from 3Q 2020). Net income: JP¥139.0m (up 15% from 3Q 2020). Profit margin: 11% (in line with 3Q 2020). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,367, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 10x in the Insurance industry in Japan. Total returns to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at JP¥736 per share. Reported Earnings • Feb 14
Second quarter 2021 earnings released: EPS JP¥3.63 (vs JP¥10.19 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: JP¥1.14b (up 5.2% from 2Q 2020). Net income: JP¥31.0m (down 64% from 2Q 2020). Profit margin: 2.7% (down from 8.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥946, the stock is trading at a trailing P/E ratio of 30.9x, down from the previous P/E ratio of 36.8x. This compares to an average P/E of 20x in the Insurance industry in Japan. Total return to shareholders over the past year is a loss of 30%. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,125, the stock is trading at a trailing P/E ratio of 36.8x, up from the previous P/E ratio of 31.3x. This compares to an average P/E of 21x in the Insurance industry in Japan. Total return to shareholders over the past year is a loss of 12%. Valuation Update With 7 Day Price Move • Dec 01
Market bids up stock over the past week After last week's 33% share price gain to JP¥1,112, the stock is trading at a trailing P/E ratio of 36.4x, up from the previous P/E ratio of 27.4x. This compares to an average P/E of 20x in the Insurance industry in Japan. Total return to shareholders over the past year is a loss of 18%.