New Risk • Jun 05
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 9.3% 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 (9.3% average weekly change). Minor Risk High level of debt (41% net debt to equity). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥6,270, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 199% over the past three years. New Risk • Mar 24
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 6.9% 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 High level of debt (41% net debt to equity). Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change). Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,005, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 107% over the past three years. Reported Earnings • Mar 14
First quarter 2026 earnings released: EPS: JP¥18.13 (vs JP¥23.04 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥18.13 (up from JP¥23.04 loss in 1Q 2025). Revenue: JP¥16.8b (up 9.9% from 1Q 2025). Net income: JP¥382.0m (up JP¥868.0m from 1Q 2025). Profit margin: 2.3% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 16
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥244 (down from JP¥355 in FY 2024). Revenue: JP¥76.0b (up 9.4% from FY 2024). Net income: JP¥5.15b (down 31% from FY 2024). Profit margin: 6.8% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 12
J.S.B.Co.,Ltd., Annual General Meeting, Jan 27, 2026 J.S.B.Co.,Ltd., Annual General Meeting, Jan 27, 2026. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥105 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 29 January 2026. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.4%). Announcement • Oct 02
J.S.B.Co.,Ltd. to Report Fiscal Year 2025 Results on Dec 12, 2025 J.S.B.Co.,Ltd. announced that they will report fiscal year 2025 results on Dec 12, 2025 New Risk • Sep 15
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: 7.5% Last year net profit margin: 11% 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 Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.5% net profit margin). Price Target Changed • Jun 27
Price target increased by 22% to JP¥4,200 Up from JP¥3,440, the current price target is provided by 1 analyst. New target price is 11% above last closing price of JP¥3,770. Stock is up 18% over the past year. The company is forecast to post earnings per share of JP¥278 for next year compared to JP¥355 last year. Reported Earnings • Jun 15
Second quarter 2025 earnings released: EPS: JP¥268 (vs JP¥239 in 2Q 2024) Second quarter 2025 results: EPS: JP¥268 (up from JP¥239 in 2Q 2024). Revenue: JP¥27.0b (up 9.6% from 2Q 2024). Net income: JP¥5.65b (up 13% from 2Q 2024). Profit margin: 21% (in line with 2Q 2024). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Real Estate 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 increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 15
First quarter 2025 earnings released: JP¥23.04 loss per share (vs JP¥85.14 profit in 1Q 2024) First quarter 2025 results: JP¥23.04 loss per share (down from JP¥85.14 profit in 1Q 2024). Revenue: JP¥15.3b (up 11% from 1Q 2024). Net loss: JP¥486.0m (down 127% from profit in 1Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 24% per year. Board Change • Feb 01
Insufficient new directors 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. 5 highly experienced directors. Independent Outside Director Yuhei Kiyohara was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jan 24
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥355 (up from JP¥227 in FY 2023). Revenue: JP¥69.5b (up 9.0% from FY 2023). Net income: JP¥7.45b (up 56% from FY 2023). Profit margin: 11% (up from 7.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 30% per year. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥61.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 27 January 2025. Payout ratio is a comfortable 5.6% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.7%). Announcement • Oct 02
J.S.B.Co.,Ltd. to Report Fiscal Year 2024 Results on Dec 13, 2024 J.S.B.Co.,Ltd. announced that they will report fiscal year 2024 results on Dec 13, 2024 New Risk • Sep 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥2,349, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 36% over the past three years. Price Target Changed • Jun 26
Price target increased by 15% to JP¥3,440 Up from JP¥2,990, the current price target is provided by 1 analyst. New target price is 11% above last closing price of JP¥3,095. Stock is up 23% over the past year. The company is forecast to post earnings per share of JP¥344 for next year compared to JP¥227 last year. Reported Earnings • Jun 16
Second quarter 2024 earnings released: EPS: JP¥239 (vs JP¥207 in 2Q 2023) Second quarter 2024 results: EPS: JP¥239 (up from JP¥207 in 2Q 2023). Revenue: JP¥24.7b (up 12% from 2Q 2023). Net income: JP¥5.01b (up 15% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Jun 14
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 are forecast to decline by an average of 5.3% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Mar 17
First quarter 2024 earnings released: EPS: JP¥85.14 (vs JP¥8.20 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥85.14 (up from JP¥8.20 loss in 1Q 2023). Revenue: JP¥13.8b (up 6.4% from 1Q 2023). Net income: JP¥1.79b (up JP¥1.96b from 1Q 2023). Profit margin: 13% (up from net loss in 1Q 2023). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Dec 23
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥299 to JP¥343. Revenue forecast steady at JP¥68.5b. Net income forecast to grow 51% next year vs 15% growth forecast for Real Estate industry in Japan. Consensus price target of JP¥2,990 unchanged from last update. Share price was steady at JP¥2,387 over the past week. Announcement • Dec 16
J.S.B.Co.,Ltd., Annual General Meeting, Jan 25, 2024 J.S.B.Co.,Ltd., Annual General Meeting, Jan 25, 2024. Reported Earnings • Dec 15
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥455 (up from JP¥205 in FY 2022). Revenue: JP¥63.8b (up 10% from FY 2022). Net income: JP¥4.78b (up 11% from FY 2022). Profit margin: 7.5% (up from 7.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥40.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 29 January 2024. Payout ratio is a comfortable 8.9% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.7%). Reported Earnings • Sep 16
Third quarter 2023 earnings released: EPS: JP¥58.72 (vs JP¥55.94 in 3Q 2022) Third quarter 2023 results: EPS: JP¥58.72 (up from JP¥55.94 in 3Q 2022). Revenue: JP¥14.5b (up 8.0% from 3Q 2022). Net income: JP¥617.0m (up 4.8% from 3Q 2022). Profit margin: 4.3% (down from 4.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 15
J.S.B.Co.,Ltd. (TSE:3480) announces an Equity Buyback for 60,000 shares, representing 0.57% for ¥300 million. J.S.B.Co.,Ltd. (TSE:3480) announces a share repurchase program. Under the program, the company will repurchase up to 60,000 shares, representing 0.57% of the outstanding shares for ¥300 million. The purpose of the program is to improve shareholder returns and capital efficiency, and to implement flexible capital policies in accordance with the business environment. The program will be valid till October 31, 2023. As of August 31, 2023, the company had 10,510,953 shares in issue (excluding treasury stock) and 353,947 shares in treasury. Announcement • Sep 06
Gakken Cocofump Holdings Co., Ltd. entered into a share transfer agreement to acquire Grand UniLife Care Service Co., Ltd. from J.S.B.Co.,Ltd. (TSE:3480) for ¥4.2 billion. Gakken Cocofump Holdings Co., Ltd. entered into a share transfer agreement to acquire Grand UniLife Care Service Co., Ltd. from J.S.B.Co.,Ltd. (TSE:3480) for ¥4.2 billion on September 4, 2023. Grand UniLife Care Service reported net assets of ¥982 million, total assets of ¥1,248 million, sales of ¥1748 million, operating profit of ¥282 million and net income of ¥181 million as at October 2022. The transaction is expected to close on November 1, 2023. Reported Earnings • Jun 16
Second quarter 2023 earnings released: EPS: JP¥414 (vs JP¥383 in 2Q 2022) Second quarter 2023 results: EPS: JP¥414 (up from JP¥383 in 2Q 2022). Revenue: JP¥22.0b (up 11% from 2Q 2022). Net income: JP¥4.35b (up 7.9% from 2Q 2022). Profit margin: 20% (in line with 2Q 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 15
First quarter 2023 earnings released: JP¥16.40 loss per share (vs JP¥13.80 loss in 1Q 2022) First quarter 2023 results: JP¥16.40 loss per share (further deteriorated from JP¥13.80 loss in 1Q 2022). Revenue: JP¥13.0b (up 11% from 1Q 2022). Net loss: JP¥172.0m (loss widened 19% from 1Q 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 02
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥410 (up from JP¥332 in FY 2021). Revenue: JP¥57.9b (up 9.7% from FY 2021). Net income: JP¥4.30b (up 32% from FY 2021). Profit margin: 7.4% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.4%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 13% per year. Price Target Changed • Jan 03
Price target increased to JP¥4,850 Up from JP¥4,200, the current price target is provided by 1 analyst. New target price is 19% above last closing price of JP¥4,085. Stock is up 34% over the past year. The company is forecast to post earnings per share of JP¥435 for next year compared to JP¥410 last year. Announcement • Dec 16
J.S.B.Co.,Ltd., Annual General Meeting, Jan 26, 2023 J.S.B.Co.,Ltd., Annual General Meeting, Jan 26, 2023. Reported Earnings • Dec 16
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥410 (up from JP¥332 in FY 2021). Revenue: JP¥57.9b (up 9.7% from FY 2021). Net income: JP¥4.30b (up 32% from FY 2021). Profit margin: 7.4% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.4%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year and the company’s share price has also increased by 17% per year. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 27 January 2023. Payout ratio is a comfortable 8.3% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Announcement • Oct 01
J.S.B.Co.,Ltd. to Report Fiscal Year 2022 Results on Dec 14, 2022 J.S.B.Co.,Ltd. announced that they will report fiscal year 2022 results on Dec 14, 2022 Reported Earnings • Sep 15
Third quarter 2022 earnings released: EPS: JP¥55.94 (vs JP¥26.96 in 3Q 2021) Third quarter 2022 results: EPS: JP¥55.94 (up from JP¥26.96 in 3Q 2021). Revenue: JP¥13.4b (up 10% from 3Q 2021). Net income: JP¥589.0m (up 128% from 3Q 2021). Profit margin: 4.4% (up from 2.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 18% per year. Announcement • Jul 15
J.S.B.Co.,Ltd. (TSE:3480) announces an Equity Buyback for 140,000 shares, representing 1.33% for ¥400 million. J.S.B.Co.,Ltd. (TSE:3480) announces a share repurchase program. Under the program, the company will repurchase 140,000 shares, representing 1.33% of the outstanding shares for ¥400 million. The purpose of the program is to return profits to shareholders, to improve capital efficiency, and to implement agile capital policies according to the business environment. The program will run until October 31, 2022. As of June 30, 2022, the company had 10,527,364 shares outstanding and 238,436 shares in treasury. Reported Earnings • Jun 15
Second quarter 2022 earnings released: EPS: JP¥383 (vs JP¥353 in 2Q 2021) Second quarter 2022 results: EPS: JP¥383 (up from JP¥353 in 2Q 2021). Revenue: JP¥19.8b (up 12% from 2Q 2021). Net income: JP¥4.03b (up 20% from 2Q 2021). Profit margin: 20% (up from 19% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.2%, compared to a 3.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Mar 15
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: JP¥13.80 loss per share (up from JP¥31.65 loss in 1Q 2021). Revenue: JP¥11.6b (up 7.8% from 1Q 2021). Net loss: JP¥145.0m (loss narrowed 52% from 1Q 2021). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 9.2%, compared to a 6.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Dec 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥332 (up from JP¥289 in FY 2020). Revenue: JP¥52.8b (up 9.8% from FY 2020). Net income: JP¥3.25b (up 18% from FY 2020). Profit margin: 6.2% (up from 5.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 9.1%, compared to a 4.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 28 January 2022. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.3%). Reported Earnings • Sep 16
Third quarter 2021 earnings released: EPS JP¥26.96 (vs JP¥41.30 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥12.2b (up 9.0% from 3Q 2020). Net income: JP¥258.0m (down 35% from 3Q 2020). Profit margin: 2.1% (down from 3.5% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Major Estimate Revision • Jun 19
Consensus EPS estimates increase to JP¥335 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from JP¥51.5b to JP¥52.5b. EPS estimate increased from JP¥292 to JP¥335 per share. Net income forecast to grow 1.2% next year vs 8.0% growth forecast for Real Estate industry in Japan. Consensus price target of JP¥4,200 unchanged from last update. Share price rose 6.8% to JP¥3,750 over the past week. Reported Earnings • Jun 13
Second quarter 2021 earnings released: EPS JP¥353 (vs JP¥302 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥17.7b (up 11% from 2Q 2020). Net income: JP¥3.38b (up 17% from 2Q 2020). Profit margin: 19% (up from 18% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 14
First quarter 2021 earnings released: JP¥31.65 loss per share (vs JP¥23.93 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: JP¥10.8b (up 10.0% from 1Q 2020). Net loss: JP¥304.0m (loss widened 33% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.3%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 7.0%, compared to a 1.8% growth forecast for the Real Estate industry in Japan. Reported Earnings • Feb 02
Full year 2020 earnings released: EPS JP¥289 (vs JP¥242 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥48.1b (up 13% from FY 2019). Net income: JP¥2.76b (up 20% from FY 2019). Profit margin: 5.7% (up from 5.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.8%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 7.6%, compared to a 3.5% growth forecast for the Real Estate industry in Japan. Is New 90 Day High Low • Jan 25
New 90-day high: JP¥3,580 The company is up 22% from its price of JP¥2,945 on 27 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥371 per share. Announcement • Dec 16
J.S.B.Co.,Ltd., Annual General Meeting, Jan 27, 2021 J.S.B.Co.,Ltd., Annual General Meeting, Jan 27, 2021. Reported Earnings • Dec 16
Full year 2020 earnings released: EPS JP¥289 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥48.1b (up 13% from FY 2019). Net income: JP¥2.76b (up 20% from FY 2019). Profit margin: 5.7% (up from 5.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Dec 16
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.8%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 7.2%, compared to a 2.8% growth forecast for the Real Estate industry in Japan. Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 15% share price gain to JP¥3,380, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 14x in the Real Estate industry in Japan. Total returns to shareholders over the past three years are 55%. Is New 90 Day High Low • Dec 02
New 90-day high: JP¥3,380 The company is up 17% from its price of JP¥2,899 on 03 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥601 per share. Price Target Changed • Dec 01
Price target raised to JP¥3,400 Up from JP¥3,150, the current price target is an average from 2 analysts. The new target price is 5.9% above the current share price of JP¥3,210. As of last close, the stock is up 35% over the past year. Announcement • Oct 08
J.S.B.Co.,Ltd. to Report Fiscal Year 2020 Results on Dec 14, 2020 J.S.B.Co.,Ltd. announced that they will report fiscal year 2020 results on Dec 14, 2020 
