Reported Earnings • May 19
First quarter 2026 earnings released: EPS: JP¥12.01 (vs JP¥25.64 in 1Q 2025) First quarter 2026 results: EPS: JP¥12.01 (down from JP¥25.64 in 1Q 2025). Revenue: JP¥5.20b (up 12% from 1Q 2025). Net income: JP¥185.0m (down 55% from 1Q 2025). Profit margin: 3.6% (down from 8.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Apr 24
KAYAC Inc. to Report Q2, 2026 Results on Aug 14, 2026 KAYAC Inc. announced that they will report Q2, 2026 results on Aug 14, 2026 Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥459, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total loss to shareholders of 40% over the past three years. Reported Earnings • Feb 18
Full year 2025 earnings released: EPS: JP¥42.58 (vs JP¥9.25 in FY 2024) Full year 2025 results: EPS: JP¥42.58 (up from JP¥9.25 in FY 2024). Revenue: JP¥20.1b (up 20% from FY 2024). Net income: JP¥683.0m (up 358% from FY 2024). Profit margin: 3.4% (up from 0.9% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 16% per year. Announcement • Feb 16
KAYAC Inc., Annual General Meeting, Mar 26, 2026 KAYAC Inc., Annual General Meeting, Mar 26, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥3.90 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. Payout ratio is a comfortable 8.0% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%). Announcement • Dec 03
KAYAC Inc. to Report Fiscal Year 2025 Results on Feb 16, 2026 KAYAC Inc. announced that they will report fiscal year 2025 results on Feb 16, 2026 New Risk • Nov 28
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 5.5% 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 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥9.31b market cap, or US$59.6m). Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥595, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 20x in the Entertainment industry in Japan. Total loss to shareholders of 58% over the past three years. Announcement • Nov 26
KAYAC Inc. (TSE:3904) announces an Equity Buyback for 700,000 shares, representing 4.35% for ¥391.3 million. KAYAC Inc. (TSE:3904) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 4.35% of its issued share capital (excluding treasury stock), for a total purchase price of ¥391.30 million. The shares will be repurchased at a price of ¥559 per share. The purpose of the program is to improve capital efficiency and enhancing shareholder returns. As of June 30, 2025, the company has 16,108,600 issued shares (excluding treasury stock) and 200 treasury shares. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: JP¥18.25 (vs JP¥0.74 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥18.25 (up from JP¥0.74 loss in 3Q 2024). Revenue: JP¥5.40b (up 27% from 3Q 2024). Net income: JP¥294.0m (up JP¥306.0m from 3Q 2024). Profit margin: 5.4% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 31% per year. Announcement • Sep 30
KAYAC Inc. to Report Q3, 2025 Results on Nov 13, 2025 KAYAC Inc. announced that they will report Q3, 2025 results on Nov 13, 2025 Reported Earnings • Aug 16
Second quarter 2025 earnings released: JP¥3.79 loss per share (vs JP¥7.14 loss in 2Q 2024) Second quarter 2025 results: JP¥3.79 loss per share (improved from JP¥7.14 loss in 2Q 2024). Revenue: JP¥4.16b (up 9.6% from 2Q 2024). Net loss: JP¥61.0m (loss narrowed 47% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Jul 03
Leader Electronics Corporation (TSE:6867) completed the acquisition of Ai Picasso inc. from AIdeaLab Inc. and KAYAC Inc. (TSE:3904). Leader Electronics Corporation (TSE:6867) agreed to acquire Ai Picasso inc. from AIdeaLab Inc. and KAYAC Inc. (TSE:3904) for approximately ¥200 million on June 16, 2025. A cash consideration of ¥199 million will be paid by Leader Electronics Corporation. As part of consideration, ¥199 million is paid towards common equity of Ai Picasso inc.
For the period ending December 31, 2024, Ai Picasso inc. reported total revenue of ¥79.78 million, EBIT of ¥31.7 million and net income of ¥31.57 million. As of December 31, 2024, Ai Picasso inc. reported total assets of ¥40.99 million and total common equity of ¥32.64 million.
The expected completion of the transaction is July 1, 2025.
Leader Electronics Corporation (TSE:6867) completed the acquisition of Ai Picasso inc. from AIdeaLab Inc. and KAYAC Inc. (TSE:3904) on July 1, 2025. Announcement • May 31
KAYAC Inc. to Report Q2, 2025 Results on Aug 14, 2025 KAYAC Inc. announced that they will report Q2, 2025 results on Aug 14, 2025 New Risk • May 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 71% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥6.73b market cap, or US$46.8m). Reported Earnings • May 21
First quarter 2025 earnings released: EPS: JP¥25.64 (vs JP¥8.63 in 1Q 2024) First quarter 2025 results: EPS: JP¥25.64 (up from JP¥8.63 in 1Q 2024). Revenue: JP¥4.67b (up 19% from 1Q 2024). Net income: JP¥413.0m (up 197% from 1Q 2024). Profit margin: 8.8% (up from 3.6% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Apr 23
KAYAC Inc. (TSE:3904) acquired an unknown minority stake in Somethingfun, Inc. KAYAC Inc. (TSE:3904) acquired an unknown minority stake in Somethingfun, Inc. on January 31, 2025.
KAYAC Inc. (TSE:3904) completed the acquisition of an unknown minority stake in Somethingfun, Inc. on January 31, 2025. New Risk • Apr 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 5.7% 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 (5.7% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (JP¥5.59b market cap, or US$38.2m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥347, the stock trades at a trailing P/E ratio of 37.5x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total loss to shareholders of 61% over the past three years. Announcement • Mar 01
KAYAC Inc. to Report Q1, 2025 Results on May 15, 2025 KAYAC Inc. announced that they will report Q1, 2025 results on May 15, 2025 Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: JP¥9.25 (vs JP¥31.96 in FY 2023) Full year 2024 results: EPS: JP¥9.25 (down from JP¥31.96 in FY 2023). Revenue: JP¥16.7b (down 4.2% from FY 2023). Net income: JP¥149.0m (down 71% from FY 2023). Profit margin: 0.9% (down from 2.9% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
KAYAC Inc., Annual General Meeting, Mar 27, 2025 KAYAC Inc., Annual General Meeting, Mar 27, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥3.90 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 22 March 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.4%). Announcement • Dec 03
KAYAC Inc. to Report Fiscal Year 2024 Results on Feb 13, 2025 KAYAC Inc. announced that they will report fiscal year 2024 results on Feb 13, 2025 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥610, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 24x in the Entertainment industry in Japan. Total loss to shareholders of 15% over the past three years. New Risk • Sep 17
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¥8.18b market cap, or US$58.2m). Announcement • Aug 28
KAYAC Inc. to Report Q3, 2024 Results on Nov 14, 2024 KAYAC Inc. announced that they will report Q3, 2024 results on Nov 14, 2024 Reported Earnings • Aug 19
Second quarter 2024 earnings released: JP¥7.14 loss per share (vs JP¥3.07 profit in 2Q 2023) Second quarter 2024 results: JP¥7.14 loss per share (down from JP¥3.07 profit in 2Q 2023). Revenue: JP¥3.79b (down 2.6% from 2Q 2023). Net loss: JP¥115.0m (down 335% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% 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. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥505, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 24x in the Entertainment industry in Japan. Total loss to shareholders of 38% over the past three years. Announcement • Jun 06
KAYAC Inc. to Report Q2, 2024 Results on Aug 14, 2024 KAYAC Inc. announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • May 20
First quarter 2024 earnings released: EPS: JP¥8.63 (vs JP¥16.55 in 1Q 2023) First quarter 2024 results: EPS: JP¥8.63 (down from JP¥16.55 in 1Q 2023). Revenue: JP¥3.91b (down 7.3% from 1Q 2023). Net income: JP¥139.0m (down 47% from 1Q 2023). Profit margin: 3.6% (down from 6.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: JP¥31.96 (vs JP¥50.32 in FY 2022) Full year 2023 results: EPS: JP¥31.96 (down from JP¥50.32 in FY 2022). Revenue: JP¥17.5b (up 5.8% from FY 2022). Net income: JP¥511.0m (down 35% from FY 2022). Profit margin: 2.9% (down from 4.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Announcement • Feb 24
KAYAC Inc. to Report Q1, 2024 Results on May 15, 2024 KAYAC Inc. announced that they will report Q1, 2024 results on May 15, 2024 Announcement • Feb 20
KAYAC Inc. (TSE:3904), Daisuke Yanagisawa, Masanori Kaibata, and Tomoyuki Kuba agreed to acquire 27.714093% stake in Ryukyu Football Club Co., Ltd. from FCR Marketing Inc. KAYAC Inc. (TSE:3904), Daisuke Yanagisawa, Masanori Kaibata, and Tomoyuki Kuba agreed to acquire 27.714093% stake in Ryukyu Football Club Co., Ltd. from FCR Marketing Inc. on February 19, 2024. The transaction is expected to close on March 4, 2024. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: JP¥31.96 (vs JP¥50.32 in FY 2022) Full year 2023 results: EPS: JP¥31.96 (down from JP¥50.32 in FY 2022). Revenue: JP¥17.5b (up 5.8% from FY 2022). Net income: JP¥511.0m (down 35% from FY 2022). Profit margin: 2.9% (down from 4.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Announcement • Feb 17
KAYAC Inc., Annual General Meeting, Mar 21, 2024 KAYAC Inc., Annual General Meeting, Mar 21, 2024. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥808, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 22x in the Entertainment industry in Japan. Total returns to shareholders of 1.5% over the past three years. Announcement • Dec 28
KAYAC Inc. to Report Fiscal Year 2023 Results on Feb 15, 2024 KAYAC Inc. announced that they will report fiscal year 2023 results on Feb 15, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥3.90 per share at 0.6% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 24 March 2024. Payout ratio is a comfortable 10.0% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (2.1%). Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: JP¥11.01 (vs JP¥8.10 in 3Q 2022) Third quarter 2023 results: EPS: JP¥11.01 (up from JP¥8.10 in 3Q 2022). Revenue: JP¥4.48b (up 25% from 3Q 2022). Net income: JP¥176.0m (up 38% from 3Q 2022). Profit margin: 3.9% (up from 3.6% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Oct 25
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 5.3% 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 (5.3% average weekly change). Profit margins are more than 30% lower than last year (3.4% net profit margin). Market cap is less than US$100m (JP¥11.1b market cap, or US$74.3m). Announcement • Aug 27
KAYAC Inc. to Report Q3, 2023 Results on Nov 13, 2023 KAYAC Inc. announced that they will report Q3, 2023 results on Nov 13, 2023 Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥720, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 21x in the Entertainment industry in Japan. Total loss to shareholders of 28% over the past three years. 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: 3.4% Last year net profit margin: 6.1% 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 Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (3.4% net profit margin). Market cap is less than US$100m (JP¥12.0b market cap, or US$82.2m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: JP¥3.07 (vs JP¥17.25 in 2Q 2022) Second quarter 2023 results: EPS: JP¥3.07 (down from JP¥17.25 in 2Q 2022). Revenue: JP¥3.89b (flat on 2Q 2022). Net income: JP¥49.0m (down 82% from 2Q 2022). Profit margin: 1.3% (down from 6.8% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥846, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total returns to shareholders of 22% over the past three years. Announcement • May 28
KAYAC Inc. to Report Q2, 2023 Results on Aug 14, 2023 KAYAC Inc. announced that they will report Q2, 2023 results on Aug 14, 2023 Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: JP¥50.32 (vs JP¥54.50 in FY 2021) Full year 2022 results: EPS: JP¥50.32 (down from JP¥54.50 in FY 2021). Revenue: JP¥16.5b (up 31% from FY 2021). Net income: JP¥783.0m (down 5.5% from FY 2021). Profit margin: 4.7% (down from 6.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥932, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 21x in the Entertainment industry in Japan. Total returns to shareholders of 101% over the past three years. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: JP¥50.32 (vs JP¥54.50 in FY 2021) Full year 2022 results: EPS: JP¥50.32 (down from JP¥54.50 in FY 2021). Revenue: JP¥16.5b (up 31% from FY 2021). Net income: JP¥783.0m (down 5.5% from FY 2021). Profit margin: 4.7% (down from 6.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
KAYAC Inc., Annual General Meeting, Mar 23, 2023 KAYAC Inc., Annual General Meeting, Mar 23, 2023. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥875, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 18x in the Entertainment industry in Japan. Total returns to shareholders of 46% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥3.90 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 6.9% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.1%). Announcement • Dec 06
KAYAC Inc. to Report Fiscal Year 2022 Results on Feb 13, 2023 KAYAC Inc. announced that they will report fiscal year 2022 results on Feb 13, 2023 Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment deteriorated over the past week After last week's 28% share price decline to JP¥1,123, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,514, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total returns to shareholders of 168% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Mio Takaoka was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 30% share price gain to JP¥1,094, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 19x in the Entertainment industry in Japan. Total returns to shareholders of 91% over the past three years. Announcement • Oct 27
KAYAC Inc. (TSE:3904) agreed to acquire Papillon Inc. from Ryogo Tsuzuki and others. KAYAC Inc. (TSE:3904) agreed to acquire Papillon Inc. from Ryogo Tsuzuki and others on October 26, 2022. For the period ended June 2022, Papillon reported net assets of ¥6.92 million, Total assets of ¥7.6 million, Operating income of ¥-9.9 million and net income of ¥-9.8 million. Transaction is expected to close on November 1, 2022. Announcement • Oct 05
KAYAC Inc. (TSE:3904) will agree to acquire an unknown minority stake in Living House Co., Ltd KAYAC Inc. (TSE:3904) will agree to acquire an unknown minority stake in Living House Co., Ltd on October 3, 2022. Announcement • Sep 29
KAYAC Inc. (TSE:3904) agreed to acquire NATIV, Inc. from Setouchi Brand Corporation and others for ¥32.6 million. KAYAC Inc. (TSE:3904) agreed to acquire NATIV, Inc. from Setouchi Brand Corporation and others for ¥32.6 million on September 28, 2022. For the fiscal year ended June 2022, NATIV reported net worth of ¥0.38 million, total assets of ¥74.1 million, Sales of ¥105.2 million, Operating income of ¥-21.7 million and Net loss of ¥11.8 million. Transaction is expected to close on September 30, 2022. Announcement • Aug 28
KAYAC Inc. to Report Q3, 2022 Results on Nov 14, 2022 KAYAC Inc. announced that they will report Q3, 2022 results on Nov 14, 2022 Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: JP¥17.25 (vs JP¥8.15 in 2Q 2021) Second quarter 2022 results: EPS: JP¥17.25 (up from JP¥8.15 in 2Q 2021). Revenue: JP¥3.89b (up 36% from 2Q 2021). Net income: JP¥265.0m (up 114% from 2Q 2021). Profit margin: 6.8% (up from 4.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Aug 19
KAYAC Inc. (TSE:3904) entered into an agreement to acquire 70% for JPY 560 million. KAYAC Inc. (TSE:3904) entered into an agreement to acquire 70% for JPY 560 million on August 18, 2022. For the year ended March 2022, Total Assets were of JPY 73 million, Net Income were of JPY 46 million, Net assets were of JPY 35 million, Operating Income was of JPY 53million and Total Revenue was of JPY 183 million. Announcement • Jun 15
KAYAC Inc. has completed a Follow-on Equity Offering in the amount of ¥499.9311 million. KAYAC Inc. has completed a Follow-on Equity Offering in the amount of ¥499.9311 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 539,300
Price\Range: ¥927
Transaction Features: Subsequent Direct Listing Announcement • May 29
KAYAC Inc. to Report Q2, 2022 Results on Aug 15, 2022 KAYAC Inc. announced that they will report Q2, 2022 results on Aug 15, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Mio Takaoka was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥990, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 17x in the Entertainment industry in Japan. Total returns to shareholders of 32% over the past three years. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: JP¥54.50 (vs JP¥33.26 in FY 2020) Full year 2021 results: EPS: JP¥54.50 (up from JP¥33.26 in FY 2020). Revenue: JP¥12.6b (up 44% from FY 2020). Net income: JP¥829.0m (up 64% from FY 2020). Profit margin: 6.6% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 27
KAYAC Inc. to Report Q1, 2022 Results on May 12, 2022 KAYAC Inc. announced that they will report Q1, 2022 results on May 12, 2022 Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥54.50 (up from JP¥33.26 in FY 2020). Revenue: JP¥12.6b (up 44% from FY 2020). Net income: JP¥829.0m (up 64% from FY 2020). Profit margin: 6.6% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
KAYAC Inc., Annual General Meeting, Mar 24, 2022 KAYAC Inc., Annual General Meeting, Mar 24, 2022. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥750, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 16x in the Entertainment industry in Japan. Total returns to shareholders of 17% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥3.90 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 8.9% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥743, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 21x in the Entertainment industry in Japan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS JP¥8.15 (vs JP¥6.72 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥2.87b (up 59% from 2Q 2020). Net income: JP¥124.0m (up 22% from 2Q 2020). Profit margin: 4.3% (down from 5.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2021 earnings released: EPS JP¥20.92 (vs JP¥5.74 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥2.82b (up 18% from 1Q 2020). Net income: JP¥318.0m (up 266% from 1Q 2020). Profit margin: 11% (up from 3.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS JP¥33.26 (vs JP¥20.07 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥8.75b (up 37% from FY 2019). Net income: JP¥505.0m (up JP¥809.0m from FY 2019). Profit margin: 5.8% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Mar 06
KAYAC Inc. to Report Q1, 2021 Results on May 13, 2021 KAYAC Inc. announced that they will report Q1, 2021 results on May 13, 2021 Reported Earnings • Feb 17
Full year 2020 earnings released: EPS JP¥33.26 (vs JP¥20.07 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥8.75b (up 37% from FY 2019). Net income: JP¥505.0m (up JP¥809.0m from FY 2019). Profit margin: 5.8% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Announcement • Feb 17
KAYAC Inc., Annual General Meeting, Mar 25, 2021 KAYAC Inc., Annual General Meeting, Mar 25, 2021. Is New 90 Day High Low • Jan 31
New 90-day low: JP¥756 The company is down 1.0% from its price of JP¥765 on 02 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 9.0% over the same period. Announcement • Jan 01
KAYAC Inc. to Report Fiscal Year 2020 Results on Feb 15, 2021 KAYAC Inc. announced that they will report fiscal year 2020 results on Feb 15, 2021 Announcement • Nov 06
INCLUSIVE Inc. (TSE:7078) agreed to acquire SuMiKa Co.,Ltd. from KAYAC Inc. (TSE:3904). INCLUSIVE Inc. (TSE:7078) agreed to acquire SuMiKa Co.,Ltd. from KAYAC Inc. (TSE:3904) on November 5, 2020. The consideration shall be paid in cash. Announcement • Sep 03
KAYAC Inc. to Report Q3, 2020 Results on Nov 12, 2020 KAYAC Inc. announced that they will report Q3, 2020 results on Nov 12, 2020