New Risk • May 31
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.1% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 12% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥8.02b market cap, or US$50.4m). Reported Earnings • May 15
Full year 2026 earnings released: JP¥156 loss per share (vs JP¥191 profit in FY 2025) Full year 2026 results: JP¥156 loss per share (down from JP¥191 profit in FY 2025). Revenue: JP¥66.0b (up 1.3% from FY 2025). Net loss: JP¥1.46b (down 182% from profit in FY 2025). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 13
Wood One Co.,Ltd., Annual General Meeting, Jun 26, 2026 Wood One Co.,Ltd., Annual General Meeting, Jun 26, 2026. Announcement • May 10
Wood One Co.,Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Wood One Co.,Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 9.5% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥75.52 (vs JP¥77.77 in 3Q 2025) Third quarter 2026 results: EPS: JP¥75.52 (down from JP¥77.77 in 3Q 2025). Revenue: JP¥18.0b (up 5.0% from 3Q 2025). Net income: JP¥703.0m (down 2.9% from 3Q 2025). Profit margin: 3.9% (down from 4.2% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Dec 20
Wood One Co.,Ltd. to Report Q3, 2026 Results on Feb 10, 2026 Wood One Co.,Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥44.47 (vs JP¥8.06 in 2Q 2025) Second quarter 2026 results: EPS: JP¥44.47 (up from JP¥8.06 in 2Q 2025). Revenue: JP¥15.8b (down 1.1% from 2Q 2025). Net income: JP¥414.0m (up 452% from 2Q 2025). Profit margin: 2.6% (up from 0.5% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 09 December 2025. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.3%). Announcement • Sep 21
Wood One Co.,Ltd. to Report Q2, 2026 Results on Nov 07, 2025 Wood One Co.,Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥37.81 (vs JP¥9.24 in 1Q 2025) First quarter 2026 results: EPS: JP¥37.81 (up from JP¥9.24 in 1Q 2025). Revenue: JP¥15.8b (flat on 1Q 2025). Net income: JP¥352.0m (up 309% from 1Q 2025). Profit margin: 2.2% (up from 0.5% in 1Q 2025). 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. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥191 (vs JP¥249 loss in FY 2024) Full year 2025 results: EPS: JP¥191 (up from JP¥249 loss in FY 2024). Revenue: JP¥65.2b (flat on FY 2024). Net income: JP¥1.78b (up JP¥4.09b from FY 2024). Profit margin: 2.7% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 59% 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. Announcement • Jun 20
Wood One Co.,Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Wood One Co.,Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 10
Full year 2025 earnings released: EPS: JP¥191 (vs JP¥249 loss in FY 2024) Full year 2025 results: EPS: JP¥191 (up from JP¥249 loss in FY 2024). Revenue: JP¥65.2b (flat on FY 2024). Net income: JP¥1.78b (up JP¥4.09b from FY 2024). Profit margin: 2.7% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 59% 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. Announcement • May 09
Wood One Co.,Ltd., Annual General Meeting, Jun 25, 2025 Wood One Co.,Ltd., Annual General Meeting, Jun 25, 2025. Announcement • Mar 26
Wood One Co.,Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 Wood One Co.,Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 New Risk • Mar 21
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 Risks Interest payments are not well covered by earnings (0.7x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 53% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (JP¥9.35b market cap, or US$62.8m). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.7%). Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥77.77 (vs JP¥99.15 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥77.77 (up from JP¥99.15 loss in 3Q 2024). Revenue: JP¥17.1b (flat on 3Q 2024). Net income: JP¥724.0m (up JP¥1.65b from 3Q 2024). Profit margin: 4.2% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Announcement • Jan 03
Wood One Co.,Ltd. to Report Q3, 2025 Results on Feb 13, 2025 Wood One Co.,Ltd. announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥8.06 (vs JP¥29.43 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥8.06 (up from JP¥29.43 loss in 2Q 2024). Revenue: JP¥15.9b (down 1.9% from 2Q 2024). Net income: JP¥75.0m (up JP¥349.0m from 2Q 2024). Profit margin: 0.5% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Announcement • Sep 28
Wood One Co.,Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Wood One Co.,Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.9%). Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥9.24 (vs JP¥22.66 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥9.24 (up from JP¥22.66 loss in 1Q 2024). Revenue: JP¥15.9b (down 1.9% from 1Q 2024). Net income: JP¥86.0m (up JP¥297.0m from 1Q 2024). Profit margin: 0.5% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • Jun 26
Wood One Co.,Ltd. to Report Q1, 2025 Results on Aug 07, 2024 Wood One Co.,Ltd. announced that they will report Q1, 2025 results on Aug 07, 2024 Reported Earnings • May 13
Full year 2024 earnings released: JP¥249 loss per share (vs JP¥39.12 profit in FY 2023) Full year 2024 results: JP¥249 loss per share (down from JP¥39.12 profit in FY 2023). Revenue: JP¥64.8b (down 1.6% from FY 2023). Net loss: JP¥2.32b (down JP¥2.68b 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 86 percentage points per year, which is a significant difference in performance. Announcement • May 12
Wood One Co.,Ltd., Annual General Meeting, Jun 25, 2024 Wood One Co.,Ltd., Annual General Meeting, Jun 25, 2024. Announcement • Mar 24
Wood One Co.,Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Wood One Co.,Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: JP¥99.15 loss per share (vs JP¥29.75 profit in 3Q 2023) Third quarter 2024 results: JP¥99.15 loss per share (down from JP¥29.75 profit in 3Q 2023). Revenue: JP¥17.0b (down 1.3% from 3Q 2023). Net loss: JP¥923.0m (down 433% from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Jan 09
Wood One Co.,Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Wood One Co.,Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: JP¥29.43 loss per share (vs JP¥4.82 loss in 2Q 2023) Second quarter 2024 results: JP¥29.43 loss per share (further deteriorated from JP¥4.82 loss in 2Q 2023). Revenue: JP¥16.2b (down 3.0% from 2Q 2023). Net loss: JP¥274.0m (loss widened JP¥229.0m from 2Q 2023). 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 5% per year, which means it has not declined as severely as earnings. Announcement • Sep 22
Wood One Co.,Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Wood One Co.,Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥12.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.2%). New Risk • Aug 09
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Profit margins are more than 30% lower than last year (0.05% net profit margin). Market cap is less than US$100m (JP¥9.67b market cap, or US$67.4m). Reported Earnings • Aug 09
First quarter 2024 earnings released: JP¥22.66 loss per share (vs JP¥12.61 profit in 1Q 2023) First quarter 2024 results: JP¥22.66 loss per share (down from JP¥12.61 profit in 1Q 2023). Revenue: JP¥16.2b (flat on 1Q 2023). Net loss: JP¥211.0m (down 279% from profit in 1Q 2023). 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 5% per year, which means it has not declined as severely as earnings. Announcement • Jun 24
Wood One Co.,Ltd. to Report Q1, 2024 Results on Aug 04, 2023 Wood One Co.,Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥39.12 (vs JP¥140 in FY 2022) Full year 2023 results: EPS: JP¥39.12 (down from JP¥140 in FY 2022). Revenue: JP¥65.8b (down 1.1% from FY 2022). Net income: JP¥365.0m (down 72% from FY 2022). Profit margin: 0.6% (down from 2.0% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 14
Wood One Co.,Ltd., Annual General Meeting, Jun 27, 2023 Wood One Co.,Ltd., Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,050, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 9x in the Forestry industry in Japan. Total returns to shareholders of 11% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥29.75 (vs JP¥29.77 in 3Q 2022) Third quarter 2023 results: EPS: JP¥29.75 (down from JP¥29.77 in 3Q 2022). Revenue: JP¥17.2b (flat on 3Q 2022). Net income: JP¥277.0m (flat on 3Q 2022). Profit margin: 1.6% (in line with 3Q 2022). 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 7% per year, which means it is significantly lagging earnings. Announcement • Jan 09
Wood One Co.,Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Wood One Co.,Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
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. 11 non-independent directors. Executive Officer, GM of President’s Office & Director Masaaki Mukaihara 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. Reported Earnings • Nov 06
Second quarter 2023 earnings released: JP¥4.82 loss per share (vs JP¥36.41 profit in 2Q 2022) Second quarter 2023 results: JP¥4.82 loss per share (down from JP¥36.41 profit in 2Q 2022). Revenue: JP¥16.7b (up 5.9% from 2Q 2022). Net loss: JP¥45.0m (down 113% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 07
Wood One Co.,Ltd. to Report Q2, 2023 Results on Nov 04, 2022 Wood One Co.,Ltd. announced that they will report Q2, 2023 results on Nov 04, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Announcement • Sep 03
Wood One Co.,Ltd. (TSE:7898) announces an Equity Buyback for 50,000 shares, representing 0.53% for ¥100 million. Wood One Co.,Ltd. (TSE:7898) announces a share repurchase program. Under the program, the company will repurchase 50,000 shares, representing 0.53% of its share capital, for ¥100 million. Th purpose of the program is to enable execution of flexible capital policy in response to changes in the business environment. The program will run till November 30, 2022. As of August 31, 2022, the company had 9,360,333 shares outstanding (excluding treasury shares) and 481,636 shares in treasury. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥12.61 (vs JP¥14.67 in 1Q 2022) First quarter 2023 results: EPS: JP¥12.61 (down from JP¥14.67 in 1Q 2022). Revenue: JP¥16.3b (up 2.5% from 1Q 2022). Net income: JP¥118.0m (down 14% from 1Q 2022). Profit margin: 0.7% (down from 0.9% 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 27% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Wood One Co.,Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Wood One Co.,Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Announcement • May 18
Wood One Co.,Ltd., Annual General Meeting, Jun 24, 2022 Wood One Co.,Ltd., Annual General Meeting, Jun 24, 2022. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥140 (vs JP¥125 in FY 2021) Full year 2022 results: EPS: JP¥140 (up from JP¥125 in FY 2021). Revenue: JP¥66.6b (up 13% from FY 2021). Net income: JP¥1.31b (up 12% from FY 2021). Profit margin: 2.0% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 16
Now 23% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be JP¥1,519, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. 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. 11 non-independent directors. Executive Officer, GM of President’s Office & Director Masaaki Mukaihara 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. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,359, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 10x in the Forestry industry in Japan. Total returns to shareholders of 32% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.3%). Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥29.77 (down from JP¥46.73 in 3Q 2021). Revenue: JP¥17.2b (up 10% from 3Q 2021). Net income: JP¥278.0m (down 36% from 3Q 2021). Profit margin: 1.6% (down from 2.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥36.41 (vs JP¥38.48 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥15.8b (up 10% from 2Q 2021). Net income: JP¥340.0m (down 5.3% from 2Q 2021). Profit margin: 2.2% (down from 2.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (2.1%). Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS JP¥14.67 (vs JP¥0.86 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥15.9b (up 18% from 1Q 2021). Net income: JP¥137.0m (up JP¥129.0m from 1Q 2021). Profit margin: 0.9% (up from 0.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥125 (vs JP¥88.84 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥59.1b (down 7.1% from FY 2020). Net income: JP¥1.17b (up 41% from FY 2020). Profit margin: 2.0% (up from 1.3% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,684, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 10x in the Forestry industry in Japan. Total returns to shareholders of 23% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.8%). Is New 90 Day High Low • Mar 12
New 90-day high: JP¥1,175 The company is up 4.0% from its price of JP¥1,135 on 11 December 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 20% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥46.73 (vs JP¥37.83 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥15.6b (down 8.4% from 3Q 2020). Net income: JP¥436.0m (up 24% from 3Q 2020). Profit margin: 2.8% (up from 2.1% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 21
New 90-day low: JP¥1,057 The company is down 12% from its price of JP¥1,196 on 23 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 24% over the same period. Announcement • Jan 12
Wood One Co.,Ltd. to Report Q3, 2021 Results on Feb 05, 2021 Wood One Co.,Ltd. announced that they will report Q3, 2021 results on Feb 05, 2021 Is New 90 Day High Low • Dec 28
New 90-day low: JP¥1,108 The company is down 13% from its price of JP¥1,280 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 10
New 90-day low: JP¥1,122 The company is down 7.0% from its price of JP¥1,209 on 11 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 10.0% over the same period. Announcement • Oct 10
Wood One Co.,Ltd. to Report Q2, 2021 Results on Nov 06, 2020 Wood One Co.,Ltd. announced that they will report Q2, 2021 results on Nov 06, 2020 Announcement • Jun 28
Wood One Co.,Ltd. to Report Q1, 2021 Results on Aug 07, 2020 Wood One Co.,Ltd. announced that they will report Q1, 2021 results on Aug 07, 2020 
