Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥991, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 13x in the Forestry industry in Japan. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,217, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 12x in the Forestry industry in Japan. Total returns to shareholders of 107% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,266, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 11x in the Forestry industry in Japan. Total returns to shareholders of 128% over the past three years. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,207, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 12x in the Forestry industry in Japan. Total returns to shareholders of 118% over the past three years. Reported Earnings • Feb 11
First quarter 2026 earnings released: EPS: JP¥77.52 (vs JP¥19.88 in 1Q 2025) First quarter 2026 results: EPS: JP¥77.52 (up from JP¥19.88 in 1Q 2025). Revenue: JP¥2.83b (down 1.4% from 1Q 2025). Net income: JP¥234.0m (up 290% from 1Q 2025). Profit margin: 8.3% (up from 2.1% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. New Risk • Feb 10
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 6.4% 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 Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (JP¥2.62b market cap, or US$16.9m). Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JP¥868, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 11x in the Forestry industry in Japan. Total returns to shareholders of 58% over the past three years. Reported Earnings • Dec 30
Full year 2025 earnings released: EPS: JP¥64.27 (vs JP¥93.89 loss in FY 2024) Full year 2025 results: EPS: JP¥64.27 (up from JP¥93.89 loss in FY 2024). Revenue: JP¥8.84b (up 2.8% from FY 2024). Net income: JP¥194.0m (up JP¥477.0m from FY 2024). Profit margin: 2.2% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Nov 29
Amifa Co.,Ltd. to Report Q1, 2026 Results on Feb 10, 2026 Amifa Co.,Ltd. announced that they will report Q1, 2026 results on Feb 10, 2026 Announcement • Nov 14
Amifa Co.,Ltd., Annual General Meeting, Dec 25, 2025 Amifa Co.,Ltd., Annual General Meeting, Dec 25, 2025. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.3%). Announcement • Sep 01
Amifa Co.,Ltd. to Report Fiscal Year 2025 Results on Nov 14, 2025 Amifa Co.,Ltd. announced that they will report fiscal year 2025 results on Nov 14, 2025 Reported Earnings • Aug 16
Third quarter 2025 earnings released: JP¥11.60 loss per share (vs JP¥39.75 loss in 3Q 2024) Third quarter 2025 results: JP¥11.60 loss per share (improved from JP¥39.75 loss in 3Q 2024). Revenue: JP¥1.65b (down 7.6% from 3Q 2024). Net loss: JP¥35.0m (loss narrowed 71% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Jun 03
Amifa Co.,Ltd. to Report Q3, 2025 Results on Aug 14, 2025 Amifa Co.,Ltd. announced that they will report Q3, 2025 results on Aug 14, 2025 Reported Earnings • May 21
Second quarter 2025 earnings released: EPS: JP¥16.90 (vs JP¥1.33 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥16.90 (up from JP¥1.33 loss in 2Q 2024). Revenue: JP¥2.27b (down 2.8% from 2Q 2024). Net income: JP¥51.0m (up JP¥55.0m from 2Q 2024). Profit margin: 2.2% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Mar 01
Amifa Co.,Ltd. to Report Q2, 2025 Results on May 15, 2025 Amifa Co.,Ltd. announced that they will report Q2, 2025 results on May 15, 2025 Reported Earnings • Feb 16
First quarter 2025 earnings released: EPS: JP¥19.88 (vs JP¥17.33 in 1Q 2024) First quarter 2025 results: EPS: JP¥19.88 (up from JP¥17.33 in 1Q 2024). Revenue: JP¥2.86b (up 11% from 1Q 2024). Net income: JP¥60.0m (up 15% from 1Q 2024). Profit margin: 2.1% (up from 2.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 31
Full year 2024 earnings released: JP¥93.89 loss per share (vs JP¥46.75 profit in FY 2023) Full year 2024 results: JP¥93.89 loss per share (down from JP¥46.75 profit in FY 2023). Revenue: JP¥8.60b (up 5.8% from FY 2023). Net loss: JP¥283.0m (down 293% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Dec 03
Amifa Co.,Ltd. to Report Q1, 2025 Results on Feb 14, 2025 Amifa Co.,Ltd. announced that they will report Q1, 2025 results on Feb 14, 2025 Announcement • Nov 14
Amifa Co.,Ltd., Annual General Meeting, Dec 26, 2024 Amifa Co.,Ltd., Annual General Meeting, Dec 26, 2024. Announcement • Sep 27
Amifa Co.,Ltd. to Report Fiscal Year 2024 Results on Nov 14, 2024 Amifa Co.,Ltd. announced that they will report fiscal year 2024 results on Nov 14, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. The average dividend yield among industry peers is 2.9%. Reported Earnings • Aug 19
Third quarter 2024 earnings released: JP¥39.75 loss per share (vs JP¥7.07 loss in 3Q 2023) Third quarter 2024 results: JP¥39.75 loss per share (further deteriorated from JP¥7.07 loss in 3Q 2023). Revenue: JP¥1.79b (up 5.8% from 3Q 2023). Net loss: JP¥120.0m (loss widened 446% from 3Q 2023). 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 6% per year, which means it has not declined as severely as earnings. Announcement • Jun 06
Amifa Co.,Ltd. to Report Q3, 2024 Results on Aug 14, 2024 Amifa Co.,Ltd. announced that they will report Q3, 2024 results on Aug 14, 2024 New Risk • May 22
New major risk - Revenue and earnings growth Earnings have declined by 6.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.4% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (0.05% net profit margin). Market cap is less than US$100m (JP¥2.05b market cap, or US$13.1m). Announcement • Mar 03
Amifa Co.,Ltd. to Report Q2, 2024 Results on May 15, 2024 Amifa Co.,Ltd. announced that they will report Q2, 2024 results on May 15, 2024 Reported Earnings • Feb 17
First quarter 2024 earnings released: EPS: JP¥17.33 (vs JP¥35.24 in 1Q 2023) First quarter 2024 results: EPS: JP¥17.33 (down from JP¥35.24 in 1Q 2023). Revenue: JP¥2.59b (up 2.5% from 1Q 2023). Net income: JP¥52.0m (down 54% from 1Q 2023). Profit margin: 2.0% (down from 4.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Dec 28
Full year 2023 earnings released: EPS: JP¥46.75 (vs JP¥68.63 in FY 2022) Full year 2023 results: EPS: JP¥46.75 (down from JP¥68.63 in FY 2022). Revenue: JP¥8.13b (up 37% from FY 2022). Net income: JP¥147.0m (down 34% from FY 2022). Profit margin: 1.8% (down from 3.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Announcement • Nov 29
Amifa Co.,Ltd. to Report Q1, 2024 Results on Feb 14, 2024 Amifa Co.,Ltd. announced that they will report Q1, 2024 results on Feb 14, 2024 New Risk • Nov 21
New major risk - Revenue and earnings growth Earnings have declined by 0.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (55% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (JP¥2.05b market cap, or US$13.8m). Announcement • Nov 17
Amifa Co.,Ltd., Annual General Meeting, Dec 26, 2023 Amifa Co.,Ltd., Annual General Meeting, Dec 26, 2023. Announcement • Sep 28
Amifa Co.,Ltd. to Report Fiscal Year 2023 Results on Nov 14, 2023 Amifa Co.,Ltd. announced that they will report fiscal year 2023 results on Nov 14, 2023 Upcoming Dividend • Sep 21
Inaugural dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 28 November 2023. This is the first dividend for AmifaLtd since going public. The average dividend yield among industry peers is 2.2%. New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (JP¥2.19b market cap, or US$15.0m). Reported Earnings • Aug 16
Third quarter 2023 earnings released: JP¥7.07 loss per share (vs JP¥2.47 loss in 3Q 2022) Third quarter 2023 results: JP¥7.07 loss per share (further deteriorated from JP¥2.47 loss in 3Q 2022). Revenue: JP¥1.69b (up 50% from 3Q 2022). Net loss: JP¥22.0m (loss widened 175% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 31
Amifa Co.,Ltd. to Report Q3, 2023 Results on Aug 14, 2023 Amifa Co.,Ltd. announced that they will report Q3, 2023 results on Aug 14, 2023 Announcement • May 17
Amifa Co.,Ltd. (TSE:7800) announces an Equity Buyback for 240,000 shares, representing 7.42% for ¥170 million. Amifa Co.,Ltd. (TSE:7800) announces a share repurchase program. Under the program, the company will repurchase up to 240,000 shares, representing 7.42% of its share capital, for ¥170 million. The shares will be repurchased at a price of ¥655 per share. The purpose of the program is to enable the execution of flexible and effective capital policies in response to changes in the business environment. As of March 31, 2023, the company had 3,234,951 shares in issue (excluding treasury stock) and 49 shares in treasury. Reported Earnings • Feb 16
First quarter 2023 earnings released: EPS: JP¥35.24 (vs JP¥38.95 in 1Q 2022) First quarter 2023 results: EPS: JP¥35.24 (down from JP¥38.95 in 1Q 2022). Revenue: JP¥2.53b (up 47% from 1Q 2022). Net income: JP¥114.0m (down 9.5% from 1Q 2022). Profit margin: 4.5% (down from 7.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Dec 15
Amifa Co.,Ltd. to Report Q1, 2023 Results on Feb 14, 2023 Amifa Co.,Ltd. announced that they will report Q1, 2023 results on Feb 14, 2023 Reported Earnings • Nov 18
Full year 2022 earnings released: EPS: JP¥68.63 (vs JP¥53.27 in FY 2021) Full year 2022 results: EPS: JP¥68.63 (up from JP¥53.27 in FY 2021). Revenue: JP¥5.92b (up 27% from FY 2021). Net income: JP¥222.0m (up 29% from FY 2021). Profit margin: 3.8% (up from 3.7% in FY 2021). The increase in margin was driven by higher revenue. 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 15% per year, which means it is significantly lagging earnings. Announcement • Nov 16
Amifa Co.,Ltd., Annual General Meeting, Dec 19, 2022 Amifa Co.,Ltd., Annual General Meeting, Dec 19, 2022. Upcoming Dividend • Sep 22
Inaugural dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. This is the first dividend for AmifaLtd since going public. The average dividend yield among industry peers is 2.9%. Announcement • Sep 01
Amifa Co.,Ltd. to Report Fiscal Year 2022 Results on Nov 14, 2022 Amifa Co.,Ltd. announced that they will report fiscal year 2022 results on Nov 14, 2022 Reported Earnings • Aug 15
Third quarter 2022 earnings released: JP¥2.47 loss per share (vs JP¥4.64 loss in 3Q 2021) Third quarter 2022 results: JP¥2.47 loss per share (up from JP¥4.64 loss in 3Q 2021). Revenue: JP¥1.13b (up 33% from 3Q 2021). Net loss: JP¥8.00m (loss narrowed 47% from 3Q 2021). Announcement • Jun 04
Amifa Co.,Ltd. to Report Q3, 2022 Results on Aug 12, 2022 Amifa Co.,Ltd. announced that they will report Q3, 2022 results on Aug 12, 2022 Reported Earnings • May 18
Second quarter 2022 earnings released: EPS: JP¥24.73 (vs JP¥21.09 in 2Q 2021) Second quarter 2022 results: EPS: JP¥24.73 (up from JP¥21.09 in 2Q 2021). Revenue: JP¥1.58b (up 28% from 2Q 2021). Net income: JP¥80.0m (up 18% from 2Q 2021). Profit margin: 5.1% (down from 5.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Announcement • Apr 08
Amifa Co.,Ltd. to Report Q2, 2022 Results on May 13, 2022 Amifa Co.,Ltd. announced that they will report Q2, 2022 results on May 13, 2022 Reported Earnings • Feb 18
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥38.95 (up from JP¥33.80 in 1Q 2021). Revenue: JP¥1.72b (up 9.6% from 1Q 2021). Net income: JP¥126.0m (up 16% from 1Q 2021). Profit margin: 7.3% (up from 7.0% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Nov 15
Full year 2021 earnings released: EPS JP¥53.27 (vs JP¥53.80 in FY 2020) The company reported a mediocre full year result with weaker revenues, although earnings were flat and profit margins improved. Full year 2021 results: Revenue: JP¥4.68b (down 2.3% from FY 2020). Net income: JP¥172.0m (flat on FY 2020). Profit margin: 3.7% (up from 3.6% in FY 2020). The increase in margin was driven by lower expenses. Upcoming Dividend • Sep 22
Inaugural dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. This is the first dividend for AmifaLtd since going public. The average dividend yield among industry peers is 2.1%. Announcement • Mar 13
Amifa Co.,Ltd. to Report Q2, 2021 Results on May 14, 2021 Amifa Co.,Ltd. announced that they will report Q2, 2021 results on May 14, 2021 Reported Earnings • Feb 14
First quarter 2021 earnings released: EPS JP¥33.80 (vs JP¥20.32 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥1.57b (up 41% from 1Q 2020). Net income: JP¥109.0m (up JP¥166.0m from 1Q 2020). Profit margin: 7.0% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Reported Earnings • Dec 27
Full year 2020 earnings released: EPS JP¥53.80 The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: JP¥4.79b (down 3.6% from FY 2019). Net income: JP¥173.0m (down 1.7% from FY 2019). Profit margin: 3.6% (up from 3.5% in FY 2019). The increase in margin was driven by lower expenses. Announcement • Dec 19
Amifa Co.,Ltd. to Report Q1, 2021 Results on Feb 12, 2021 Amifa Co.,Ltd. announced that they will report Q1, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Dec 18
New 90-day low: JP¥686 The company is down 8.0% from its price of JP¥747 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 30
New 90-day low: JP¥693 The company is down 8.0% from its price of JP¥756 on 01 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 5.0% over the same period. Upcoming Dividend • Sep 22
First Dividend Is JP¥19.00 Per Share Will be paid on the 20th of December to those who are registered shareholders by the 29th of September. This is the first dividend for AmifaLtd since going public. The average dividend yield among industry peers is 2.5%. Announcement • Sep 04
Amifa Co.,Ltd. to Report Fiscal Year 2020 Results on Nov 13, 2020 Amifa Co.,Ltd. announced that they will report fiscal year 2020 results on Nov 13, 2020 Announcement • Jun 20
Amifa Co., Ltd. to Report Q3, 2020 Results on Aug 14, 2020 Amifa Co., Ltd. announced that they will report Q3, 2020 results on Aug 14, 2020 
