New Risk • Jul 24
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 9.4% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥6,330, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Specialty Retail industry in Japan. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,300 per share. Buy Or Sell Opportunity • Jul 13
Now 34% undervalued Over the last 90 days, the stock has risen 2.3% to JP¥6,240. The fair value is estimated to be JP¥9,390, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Jul 12
Third quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2026 results: EPS: JP¥122 (up from JP¥107 in 3Q 2025). Revenue: JP¥30.2b (up 21% from 3Q 2025). Net income: JP¥2.85b (up 14% from 3Q 2025). Profit margin: 9.4% (in line with 3Q 2025). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Jul 10
Jins Holdings Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending August 31, 2026 Jins Holdings Inc. provided consolidated earnings guidance for the fiscal year ending August 31, 2026. For the full year, the company expects net sales of ¥110,392 million, operating profit of ¥12,772 million, profit attributable to owners of parent of ¥8,623 million and earnings per share of ¥369.39. Live News • Jun 07
JINS HOLDINGS Sees 26% May Sales Jump with Store Network Grows to 581 Outlets JINS HOLDINGS reported total sales in May 2026 up 26.4% year on year, with existing store sales in Japan up 17.2%.
The company expanded its store network to 581 outlets, adding six new stores in May and recording no closures.
Management linked May sales performance to expanded promotions, higher inbound tourism demand and the timing of additional holidays.
The combination of double-digit growth in existing store sales and continued store openings suggests that both higher customer traffic and a wider physical footprint contributed to May revenue.
Investors may want to watch whether factors such as tourism and holiday timing remain supportive in coming months, and how much of this sales strength is tied to promotions that could affect margins. Buy Or Sell Opportunity • May 14
Now 22% undervalued Over the last 90 days, the stock has risen 41% to JP¥7,430. The fair value is estimated to be JP¥9,545, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 63%. For the next 3 years, revenue is forecast to grow by 8.5% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Price Target Changed • May 13
Price target increased by 8.1% to JP¥7,573 Up from JP¥7,006, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥7,730. Stock is down 10% over the past year. The company is forecast to post earnings per share of JP¥362 for next year compared to JP¥357 last year. Price Target Changed • May 13
Price target increased by 8.1% to JP¥7,573 Up from JP¥7,006, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥7,730. Stock is down 10% over the past year. The company is forecast to post earnings per share of JP¥362 for next year compared to JP¥357 last year. Declared Dividend • May 12
First half dividend of JP¥68.00 announced Shareholders will receive a dividend of JP¥68.00. Ex-date: 28th August 2026 Payment date: 30th November 2026 Dividend yield will be 1.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but not adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 25
Price target decreased by 8.5% to JP¥7,006 Down from JP¥7,660, the current price target is an average from 7 analysts. New target price is 7.1% above last closing price of JP¥6,540. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥355 for next year compared to JP¥357 last year. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥6,640, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 134% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,173 per share. New Risk • Apr 15
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 6.8% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Apr 11
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: JP¥82.67 (down from JP¥106 in 2Q 2025). Revenue: JP¥26.5b (up 12% from 2Q 2025). Net income: JP¥1.93b (down 22% from 2Q 2025). Profit margin: 7.3% (down from 10% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 29%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% 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 • Feb 19
Upcoming dividend of JP¥47.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 11 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.4%). Price Target Changed • Jan 14
Price target decreased by 9.7% to JP¥8,257 Down from JP¥9,144, the current price target is an average from 7 analysts. New target price is 63% above last closing price of JP¥5,080. Stock is down 25% over the past year. The company is forecast to post earnings per share of JP¥375 for next year compared to JP¥357 last year. Reported Earnings • Jan 10
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: JP¥62.67 (up from JP¥56.43 in 1Q 2025). Revenue: JP¥24.0b (up 14% from 1Q 2025). Net income: JP¥1.46b (up 11% from 1Q 2025). Profit margin: 6.1% (down from 6.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 11
Final dividend of JP¥47.00 announced Shareholders will receive a dividend of JP¥47.00. Ex-date: 26th February 2026 Payment date: 11th May 2026 Dividend yield will be 1.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Dec 11
Price target decreased by 8.7% to JP¥9,144 Down from JP¥10,020, the current price target is an average from 7 analysts. New target price is 64% above last closing price of JP¥5,590. Stock is down 13% over the past year. The company is forecast to post earnings per share of JP¥374 for next year compared to JP¥357 last year. New Risk • Nov 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Announcement • Nov 05
JINS HOLDINGS Inc. to Report Q1, 2026 Results on Jan 09, 2026 JINS HOLDINGS Inc. announced that they will report Q1, 2026 results on Jan 09, 2026 Buy Or Sell Opportunity • Oct 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to JP¥7,830. The fair value is estimated to be JP¥10,004, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 78%. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings are also forecast to grow by 9.6% per annum over the same time period. Reported Earnings • Oct 11
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: JP¥357 (up from JP¥200 in FY 2024). Revenue: JP¥97.2b (up 17% from FY 2024). Net income: JP¥8.33b (up 78% from FY 2024). Profit margin: 8.6% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Oct 10
JINS HOLDINGS Inc., Annual General Meeting, Nov 27, 2025 JINS HOLDINGS Inc., Annual General Meeting, Nov 27, 2025. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥9,580, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,418 per share. Announcement • Aug 27
JINS HOLDINGS Inc. to Report Fiscal Year 2025 Results on Oct 10, 2025 JINS HOLDINGS Inc. announced that they will report fiscal year 2025 results on Oct 10, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.5%). Buy Or Sell Opportunity • Jul 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to JP¥7,880. The fair value is estimated to be JP¥9,894, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 75%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Jul 13
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: JP¥107 (up from JP¥69.28 in 3Q 2024). Revenue: JP¥25.0b (up 18% from 3Q 2024). Net income: JP¥2.50b (up 55% from 3Q 2024). Profit margin: 10.0% (up from 7.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Jun 06
JINS HOLDINGS Inc. to Report Q3, 2025 Results on Jul 11, 2025 JINS HOLDINGS Inc. announced that they will report Q3, 2025 results on Jul 11, 2025 Declared Dividend • May 10
First half dividend of JP¥44.00 announced Shareholders will receive a dividend of JP¥44.00. Ex-date: 28th August 2025 Payment date: 1st December 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 31%. Cash payout ratio: 27%. Price Target Changed • Apr 23
Price target increased by 10% to JP¥8,120 Up from JP¥7,353, the current price target is an average from 6 analysts. New target price is 7.7% below last closing price of JP¥8,800. Stock is up 157% over the past year. The company is forecast to post earnings per share of JP¥336 for next year compared to JP¥200 last year. Major Estimate Revision • Apr 18
Consensus EPS estimates increase by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥92.4b to JP¥95.1b. EPS estimate increased from JP¥267 to JP¥330 per share. Net income forecast to grow 7.6% next year vs 12% growth forecast for Specialty Retail industry in Japan. Consensus price target up from JP¥7,353 to JP¥7,857. Share price rose 18% to JP¥8,860 over the past week. Reported Earnings • Apr 12
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥106 (up from JP¥41.86 in 2Q 2024). Revenue: JP¥23.8b (up 20% from 2Q 2024). Net income: JP¥2.47b (up 153% from 2Q 2024). Profit margin: 10% (up from 4.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥7,480, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥7,567 per share. New Risk • Mar 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 06
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 8.8% to JP¥6,900. The fair value is estimated to be JP¥5,527, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 12 May 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.4%). Reported Earnings • Jan 12
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: JP¥56.43 (up from JP¥24.81 in 1Q 2024). Revenue: JP¥21.1b (up 16% from 1Q 2024). Net income: JP¥1.32b (up 127% from 1Q 2024). Profit margin: 6.3% (up from 3.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Jan 11
Price target increased by 7.2% to JP¥7,052 Up from JP¥6,578, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥6,860. Stock is up 52% over the past year. The company is forecast to post earnings per share of JP¥258 for next year compared to JP¥200 last year. Declared Dividend • Dec 19
Final dividend of JP¥23.00 announced Shareholders will receive a dividend of JP¥23.00. Ex-date: 27th February 2025 Payment date: 12th May 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 06
JINS HOLDINGS Inc. to Report Q2, 2025 Results on Apr 11, 2025 JINS HOLDINGS Inc. announced that they will report Q2, 2025 results on Apr 11, 2025 Announcement • Dec 04
JINS Inc. Appoints Ryo Tanaka as Chief Operating Officer JINS HOLDINGS Inc. announced that the following changes to Executive Officers were resolved at the board of directors meeting held on November 28, 2024. Changes to Executive Officers (effective December 1, 2024): Ryo Tanaka: Former title: Executive Vice President and Executive Officer/President and Representative Director, JINS Inc.; New title: Executive Vice President and Executive Officer and Chief Operating Officer (COO)/President and Representative Director, JINS Inc. Announcement • Nov 20
JINS HOLDINGS Inc. to Report Q1, 2025 Results on Jan 10, 2025 JINS HOLDINGS Inc. announced that they will report Q1, 2025 results on Jan 10, 2025 New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.2% 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. This is currently the only risk that has been identified for the company. Price Target Changed • Oct 23
Price target increased by 14% to JP¥5,972 Up from JP¥5,258, the current price target is an average from 5 analysts. New target price is 6.5% above last closing price of JP¥5,610. Stock is up 30% over the past year. The company is forecast to post earnings per share of JP¥228 for next year compared to JP¥200 last year. Reported Earnings • Oct 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥200 (up from JP¥75.49 in FY 2023). Revenue: JP¥83.0b (up 13% from FY 2023). Net income: JP¥4.67b (up 165% from FY 2023). Profit margin: 5.6% (up from 2.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥6,160, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,148 per share. Major Estimate Revision • Oct 15
Consensus EPS estimates increase by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥87.8b to JP¥91.2b. EPS estimate increased from JP¥189 to JP¥241 per share. Net income forecast to grow 86% next year vs 11% growth forecast for Specialty Retail industry in Japan. Consensus price target up from JP¥5,258 to JP¥5,572. Share price rose 21% to JP¥6,160 over the past week. Announcement • Oct 11
JINS HOLDINGS Inc., Annual General Meeting, Nov 28, 2024 JINS HOLDINGS Inc., Annual General Meeting, Nov 28, 2024. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.5%). Buy Or Sell Opportunity • Jul 31
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to JP¥4,570. The fair value is estimated to be JP¥3,800, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 70% in the next 2 years. Announcement • Jul 24
JINS HOLDINGS Inc. Revises Consolidated Earnings Guidance for the Full Year Ending August 31, 2024 JINS HOLDINGS Inc. revised consolidated earnings guidance for the full year ending August 31, 2024. For the year, the company expects net sales of JPY 79,939 million compared to previous guidance of JPY 79,638 million, operating profit of JPY 6,300 million compared to previous guidance of JPY 5,500 million, profit attributable to owners of parent of JPY 3,500 million compared to previous guidance of JPY 2,900 million and basic earnings per share of JPY 149.96 compared to previous guidance of JPY 124.25. Reported Earnings • Jul 16
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: JP¥69.28 (up from JP¥59.08 in 3Q 2023). Revenue: JP¥21.1b (up 11% from 3Q 2023). Net income: JP¥1.62b (up 17% from 3Q 2023). Profit margin: 7.6% (up from 7.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 19
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥163 to JP¥144 per share. Revenue forecast steady at JP¥80.4b. Net income forecast to grow 51% next year vs 14% growth forecast for Specialty Retail industry in Japan. Consensus price target broadly unchanged at JP¥4,925. Share price fell 22% to JP¥3,270 over the past week.