Reported Earnings • Aug 07
Third quarter 2025 earnings released: EPS: JP¥56.40 (vs JP¥120 in 3Q 2024) Third quarter 2025 results: EPS: JP¥56.40 (down from JP¥120 in 3Q 2024). Revenue: JP¥4.56b (up 6.2% from 3Q 2024). Net income: JP¥733.0m (down 50% from 3Q 2024). Profit margin: 16% (down from 34% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 12
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥3,985. The fair value is estimated to be JP¥4,988, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Earnings per share has grown by 56%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • May 09
Second quarter 2025 earnings released: EPS: JP¥42.87 (vs JP¥16.82 in 2Q 2024) Second quarter 2025 results: EPS: JP¥42.87 (up from JP¥16.82 in 2Q 2024). Revenue: JP¥4.88b (down 40% from 2Q 2024). Net income: JP¥553.0m (up 171% from 2Q 2024). Profit margin: 11% (up from 2.5% in 2Q 2024). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • May 08
LY Corporation (TSE:4689) completed the acquisition of 98.8% stake in BEENOS Inc. (TSE:3328) from a group of shareholders. LY Corporation (TSE:4689) proposed to acquire 98.8% stake in BEENOS Inc. (TSE:3328) from a group of shareholders for ¥53.81 billion in a tender offer transaction on October 10, 2024. A cash consideration valued at ¥270 per share , valued at ¥1474 per share , valued at ¥1661 per share , valued at ¥2263 per share , valued at ¥2929 per share and valued at ¥4000 per share will be paid by LY Corporation. The transaction will be financed through it's own funds of ¥53.81 billion.
The Board of Directors of BEENOS Inc. formed a special committee for the transaction.
Transaction is subject to approval from Competition authorities from Japan and Taiwan, transaction has been approved by Japanese competition authorities and is still subject to approval from competition laws of Taiwan. At present, the Tender Offeror
expects to commence the Tender Offer by the end of March 2025. As of March 21, 2025, the company announced that the tender offer will commence from March 24, 2025. As of March 21, 2025, In the Tender Offer, the Tender Offeror has set 8,876,800 shares (ownership ratio: 66.03%) as the minimum number of shares to be purchased. As such, because it is expected that they will support the Squeeze-out Procedures if the Tender Offer is
successfully completed, in considering the minimum number of shares to be purchased, the number of voting rights related to the Restricted Shares has been deducted.
The transaction is expected to close on May 7, 2025. Daiwa Securities Co. Ltd. acted as financial advisor for BEENOS Inc. Nishimura & Asahi acted as legal advisor for BEENOS Inc. Mizuho Securities Co., Ltd. acted as Financial advisor to LY Corporation (TSE:4689) and Plutus Consulting Co., Ltd. acted as Fairness Opinion provider to BEENOS Inc.
LY Corporation (TSE:4689) completed the acquisition of 98.8% stake in BEENOS Inc. (TSE:3328) from a group of shareholders on May 7, 2025. Reported Earnings • Feb 14
First quarter 2025 earnings released: EPS: JP¥22.85 (vs JP¥2.07 in 1Q 2024) First quarter 2025 results: EPS: JP¥22.85 (up from JP¥2.07 in 1Q 2024). Revenue: JP¥4.68b (down 41% from 1Q 2024). Net income: JP¥294.0m (up JP¥269.0m from 1Q 2024). Profit margin: 6.3% (up from 0.3% in 1Q 2024). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Multiline Retail industry in Japan. 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 38% per year, which means it is significantly lagging earnings growth. Announcement • Dec 19
Beenos Inc. Resolves Not to Distribute Year-End Dividend for the Fiscal Year Ending 30 September 2025 BEENOS Inc. announced that the Company resolved not to distribute a year-end dividend for the fiscal year ending 30 September 2025, with the record date set as 30 September 2025 as resolved in its Board of Directors meeting held on 19 December 2024 against JPY 40.00 per share paid a year ago. This decision is conditional upon the successful completion of the tender offer (hereinafter referred to as "the Tender Offer") by LY Corporation for the Company's issued common shares and stock options. Reason: At the Board of Directors meeting held today, the Company resolved to express its opinion in support of the Tender Offer should it commence and to recommend that shareholders tender their shares in the Tender Offer. This resolution was made based on the premise that the Company's shares are expected to be delisted following the Tender Offer and subsequent procedures. The Company has positioned shareholder returns through dividends as a key management priority, striving to expand its business foundation and strengthen its financial base to ensure stable and long- term dividend payments, unaffected by fluctuations in business performance. However, considering that the Tender Offer price per share is determined based on the premise that no surplus dividend will be distributed as of the record date of 30 September 2025, the Board of Directors resolved at 19 December 2024's meeting not to distribute a year-end dividend for the fiscal year ending 30 September 2025, conditional upon the successful completion of the Tender Offer. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,070, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Multiline Retail industry in Japan. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,473 per share. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to JP¥3,320, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Multiline Retail industry in Japan. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,457 per share. Reported Earnings • Nov 09
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥111 (down from JP¥181 in FY 2023). Revenue: JP¥25.4b (down 22% from FY 2023). Net income: JP¥1.35b (down 39% from FY 2023). Profit margin: 5.3% (down from 6.8% in FY 2023). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Multiline 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 remained flat, which means it is significantly lagging earnings. Announcement • Nov 07
BEENOS Inc., Annual General Meeting, Dec 20, 2024 BEENOS Inc., Annual General Meeting, Dec 20, 2024. New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,352, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Multiline Retail industry in Japan. Total loss to shareholders of 20% over the past three years. Announcement • Aug 29
BEENOS Inc. to Report Fiscal Year 2024 Results on Nov 07, 2024 BEENOS Inc. announced that they will report fiscal year 2024 results on Nov 07, 2024 Reported Earnings • Aug 08
Third quarter 2024 earnings released: EPS: JP¥120 (vs JP¥34.61 in 3Q 2023) Third quarter 2024 results: EPS: JP¥120 (up from JP¥34.61 in 3Q 2023). Revenue: JP¥4.29b (down 42% from 3Q 2023). Net income: JP¥1.46b (up 239% from 3Q 2023). Profit margin: 34% (up from 5.8% in 3Q 2023). Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Multiline Retail industry in Japan are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 29
BEENOS Inc. to Report Q3, 2024 Results on Aug 06, 2024 BEENOS Inc. announced that they will report Q3, 2024 results on Aug 06, 2024 Declared Dividend • May 11
Dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 12% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
Second quarter 2024 earnings released: EPS: JP¥16.82 (vs JP¥33.92 in 2Q 2023) Second quarter 2024 results: EPS: JP¥16.82 (down from JP¥33.92 in 2Q 2023). Revenue: JP¥8.15b (up 6.5% from 2Q 2023). Net income: JP¥204.0m (down 52% from 2Q 2023). Profit margin: 2.5% (down from 5.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Multiline Retail industry in Japan are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • May 01
Aucnet Inc. (TSE:3964) completed the acquisition of Defactostandard, Ltd. and JOYLAB, inc. from BEENOS Inc. (TSE:3328). Aucnet Inc. (TSE:3964) agreed to acquire Defactostandard, Ltd. and JOYLAB, inc. from BEENOS Inc. (TSE:3328) for ¥2.9 billion on February 14, 2024. Under the terms, 8.68 million share were acquired.
Aucnet Inc. (TSE:3964) completed the acquisition of Defactostandard, Ltd. and JOYLAB, inc. from BEENOS Inc. (TSE:3328) on April 30, 2024. Announcement • Feb 24
BEENOS Inc. to Report Q2, 2024 Results on May 08, 2024 BEENOS Inc. announced that they will report Q2, 2024 results on May 08, 2024 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to JP¥1,651, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Multiline Retail industry in Japan. Total loss to shareholders of 29% over the past three years. New Risk • Feb 16
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 8.2% 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 (8.2% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 10
First quarter 2024 earnings released: EPS: JP¥2.07 (vs JP¥32.22 in 1Q 2023) First quarter 2024 results: EPS: JP¥2.07 (down from JP¥32.22 in 1Q 2023). Revenue: JP¥7.93b (up 14% from 1Q 2023). Net income: JP¥25.0m (down 94% from 1Q 2023). Profit margin: 0.3% (down from 5.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Multiline Retail industry in Japan. 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 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,242, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Multiline Retail industry in Japan. Total loss to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,507, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Multiline Retail industry in Japan. Total loss to shareholders of 31% over the past three years. Announcement • Jan 18
BEENOS Inc. to Report Q1, 2024 Results on Feb 08, 2024 BEENOS Inc. announced that they will report Q1, 2024 results on Feb 08, 2024 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,526, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Multiline Retail industry in Japan. Total loss to shareholders of 34% over the past three years. Reported Earnings • Nov 08
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥181 (up from JP¥16.92 loss in FY 2022). Revenue: JP¥32.5b (up 8.9% from FY 2022). Net income: JP¥2.20b (up JP¥2.41b from FY 2022). Profit margin: 6.8% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Oct 28
BEENOS Inc. Announces Resignation of Koji Nakamura as Group CFO, Effective 15 December 2023 BEENOS Inc. at its Board Meeting held on October 26, 2023, announced that the Group CFO, Koji Nakamura, will be resigning. Scheduled Resignation on 15 December 2023. BEENOS Group CFO, Koji Nakamura, will be resigning at the end of his term at the conclusion of the 24th Annual General Shareholders Meeting scheduled to be held on 15 December 2023. Nakamura joined BEENOS in 2003 and served for 17 years as CFO since 2006. He became the Vice President in 2012 where he spent 11 years creating the foundation for management control and expanding the business scale of the BEENOS Group. He guided the Company's growth, including its move from TSE Mothers to the TSE Prime market. As the world approaches a transformative phase driven by generative AI, Nakamura chose to step down, feeling that the Company's foundation is firmly established. He believes a younger management team will better position the Company at the forefront of the Global Platform Frontier, to fulfill its purpose to establish platforms that define new standards and potentials. Announcement • Oct 27
BEENOS Inc., Annual General Meeting, Dec 15, 2023 BEENOS Inc., Annual General Meeting, Dec 15, 2023. New Risk • Sep 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Announcement • Sep 28
BEENOS Inc. to Report Fiscal Year 2023 Results on Nov 07, 2023 BEENOS Inc. announced that they will report fiscal year 2023 results on Nov 07, 2023 Announcement • Sep 22
BEENOS Inc. Provides Dividend Guidance for the Year 2023 BEENOS Inc. provided dividend forecast for the year 2023. For the year, the company expects to pay dividend of JPY 27.00 against JPY 25.00 a year ago. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥25.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,702, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Multiline Retail industry in Japan. Total returns to shareholders of 23% over the past three years. Announcement • Aug 11
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 300,000 shares, representing 2.44% for ¥500 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 2.44% of its total shares outstanding (excluding treasury shares), for a total of ¥500 million. The purpose of repurchase program is to implement a flexible capital policy that responds to changes in the business environment. The repurchase program is valid till September 30, 2023. As of August 10, 2023, the company has 12,308,929 shares outstanding (excluding treasury shares) and has 868,066 shares in treasury. Reported Earnings • Aug 09
Third quarter 2023 earnings released: EPS: JP¥34.61 (vs JP¥15.75 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥34.61 (up from JP¥15.75 loss in 3Q 2022). Revenue: JP¥7.44b (down 1.7% from 3Q 2022). Net income: JP¥429.0m (up JP¥623.0m from 3Q 2022). Profit margin: 5.8% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • May 28
BEENOS Inc. to Report Q3, 2023 Results on Aug 08, 2023 BEENOS Inc. announced that they will report Q3, 2023 results on Aug 08, 2023 Reported Earnings • May 10
Second quarter 2023 earnings released: EPS: JP¥33.92 (vs JP¥22.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥33.92 (up from JP¥22.67 in 2Q 2022). Revenue: JP¥7.66b (up 6.7% from 2Q 2022). Net income: JP¥421.0m (up 48% from 2Q 2022). Profit margin: 5.5% (up from 4.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Multiline Retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • May 10
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 200,000 shares, representing 1.61% for ¥300 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 1.61% of its issued share capital (excluding treasury stock), for a total purchase price of ¥300 million. The purpose of the program is to carry out agile capital policies in response to changes in the business environment. The program will continue through June 30, 2023. As of May 9, 2023, the company had 12,439,329 issued shares (excluding treasury stock) and 896,666 treasury shares. Reported Earnings • Feb 09
First quarter 2023 earnings released: EPS: JP¥32.22 (vs JP¥1.42 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥32.22 (up from JP¥1.42 loss in 1Q 2022). Revenue: JP¥6.98b (up 2.3% from 1Q 2022). Net income: JP¥398.0m (up JP¥416.0m from 1Q 2022). Profit margin: 5.7% (up from net loss in 1Q 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Announcement • Feb 08
Beenos Inc. Provides Consolidated Earning Guidance for the Fiscal Year Ending September 30, 2023 BEENOS Inc. provided consolidated earning guidance for the fiscal year ending September 30, 2023. For the period, the company expects net sales of JPY 33,120 million, operating income of JPY 4,500 million, ordinary income of JPY 4,200 million, net income of JPY 2,580 million and net income per share of JPY 209.20. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent External Director & Auditor Haruka Osawa was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 26
BEENOS Inc. to Report Q1, 2023 Results on Feb 08, 2023 BEENOS Inc. announced that they will report Q1, 2023 results on Feb 08, 2023 Announcement • Nov 24
BEENOS Inc. Announces Resignation of Taku Takeuchi as Director and Executive Managing Officer, Effective December 16, 2022 BEENOS Inc. announced resignation of Taku Takeuchi as Director and Executive Managing Officer of the company, with effect from December 16, 2022. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent External Director Naofumi Nishi was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 10
BEENOS Inc., Annual General Meeting, Dec 16, 2022 BEENOS Inc., Annual General Meeting, Dec 16, 2022. Reported Earnings • Nov 10
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: JP¥16.92 loss per share (down from JP¥53.93 profit in FY 2021). Revenue: JP¥29.8b (up 19% from FY 2021). Net loss: JP¥211.0m (down 131% from profit in FY 2021). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Announcement • Nov 09
Beenos Inc. Announces Annual Dividend for Fiscal Year 2022, Payable on 2 December 2022 BEENOS Inc. announced annual dividend of JPY 25 per share for fiscal year 2022. Scheduled date of commencement of dividend payment is 2 December 2022. Announcement • Sep 01
BEENOS Inc. to Report Fiscal Year 2022 Results on Nov 08, 2022 BEENOS Inc. announced that they will report fiscal year 2022 results on Nov 08, 2022 Reported Earnings • Aug 05
Third quarter 2022 earnings released: JP¥15.75 loss per share (vs JP¥12.66 profit in 3Q 2021) Third quarter 2022 results: JP¥15.75 loss per share (down from JP¥12.66 profit in 3Q 2021). Revenue: JP¥7.57b (up 28% from 3Q 2021). Net loss: JP¥194.0m (down 218% from profit in 3Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥2,048, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Online Retail industry in Japan. Total returns to shareholders of 61% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥870 per share. Announcement • Jun 30
BEENOS Inc. to Report Q3, 2022 Results on Aug 04, 2022 BEENOS Inc. announced that they will report Q3, 2022 results on Aug 04, 2022 Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥2,321, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Online Retail industry in Japan. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥2,179, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 20x in the Online Retail industry in Japan. Total returns to shareholders of 19% over the past three years. Major Estimate Revision • May 17
Consensus EPS estimates fall by 39% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥28.8b to JP¥28.4b. EPS estimate also fell from JP¥84.55 per share to JP¥51.20 per share. Net income forecast to grow 78% next year vs 5.4% growth forecast for Online Retail industry in Japan. Consensus price target of JP¥4,450 unchanged from last update. Share price rose 27% to JP¥1,751 over the past week. Reported Earnings • May 11
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: JP¥22.67 (up from JP¥12.57 in 2Q 2021). Revenue: JP¥7.18b (up 17% from 2Q 2021). Net income: JP¥284.0m (up 75% from 2Q 2021). Profit margin: 4.0% (up from 2.6% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 62%. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,449, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Online Retail industry in Japan. Total loss to shareholders of 11% over the past three years. Price Target Changed • Apr 27
Price target increased to JP¥4,450 Up from JP¥4,100, the current price target is an average from 3 analysts. New target price is 147% above last closing price of JP¥1,804. Stock is down 40% over the past year. The company is forecast to post earnings per share of JP¥84.55 for next year compared to JP¥53.93 last year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. Independent External Director Naofumi Nishi was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
BEENOS Inc. to Report Q2, 2022 Results on May 10, 2022 BEENOS Inc. announced that they will report Q2, 2022 results on May 10, 2022 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¥2,346, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Online Retail industry in Japan. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥1,282, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Online Retail industry in Japan. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥598 per share. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥1,546, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Online Retail industry in Japan. Total returns to shareholders of 36% over the past three years. Announcement • Feb 10
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 300,000 shares, representing 2.36% for ¥500 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 2.36% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to carry out agile capital policies in response to changes in the business environment. The program will continue through April 28, 2022. As of December 31, 2021, the company had 12,712,915 issued shares (excluding treasury stock) and 623,080 treasury shares. Reported Earnings • Feb 09
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: JP¥1.42 loss per share (down from JP¥9.65 profit in 1Q 2021). Revenue: JP¥6.82b (up 8.6% from 1Q 2021). Net loss: JP¥18.0m (down 115% from profit in 1Q 2021). Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 15%, compared to a 17% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Major Estimate Revision • Feb 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥104 to JP¥75.30 per share. Revenue forecast steady at JP¥28.5b. Net income forecast to grow 38% next year vs 11% growth forecast for Online Retail industry in Japan. Consensus price target of JP¥4,450 unchanged from last update. Share price fell 17% to JP¥1,604 over the past week. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥2,366, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 20x in the Online Retail industry in Japan. Total returns to shareholders of 94% over the past three years. Announcement • Nov 30
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 200,000 shares, representing 1.56% for ¥500 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 1.56% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to pursue a timely and flexible capital policy in response to changes in the operating environment. The program will be valid till January 31, 2022. As of September 30, 2021, the company had 12,845,360 issued shares (excluding treasury stock) and 490,635 treasury shares. Major Estimate Revision • Nov 26
Consensus EPS estimates increase to JP¥86.02 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥28.3b to JP¥28.7b. EPS estimate increased from JP¥70.84 to JP¥86.02 per share. Net income forecast to grow 60% next year vs 13% growth forecast for Online Retail industry in Japan. Consensus price target up from JP¥4,100 to JP¥4,450. Share price fell 8.5% to JP¥2,858 over the past week. Price Target Changed • Nov 26
Price target increased to JP¥4,450 Up from JP¥3,900, the current price target is an average from 3 analysts. New target price is 56% above last closing price of JP¥2,858. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥86.02 for next year compared to JP¥53.82 last year. Reported Earnings • Nov 05
Full year 2021 earnings released: EPS JP¥53.76 (vs JP¥151 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥25.0b (down 3.3% from FY 2020). Net income: JP¥690.0m (down 64% from FY 2020). Profit margin: 2.8% (down from 7.3% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (0.9%). Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from JP¥171 to JP¥223. Revenue forecast unchanged at JP¥28.6b. Net income forecast to grow 388% next year vs 9.3% growth forecast for Online Retail industry in Japan. Consensus price target of JP¥3,900 unchanged from last update. Share price fell 6.9% to JP¥3,110 over the past week. Reported Earnings • Aug 13
Third quarter 2021 earnings released: EPS JP¥12.64 (vs JP¥5.78 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.92b (up 14% from 3Q 2020). Net income: JP¥163.8m (up 124% from 3Q 2020). Profit margin: 2.8% (up from 1.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% 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 • Aug 13
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 80,000 shares, representing 0.62% for ¥213 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 80,000 shares, representing 0.62% of its issued share capital (excluding treasury stock), for a total purchase price of ¥213 million. The purpose of the program is to pursue a timely and flexible capital policy in response to changes in the operating environment. The program will be valid till September 15, 2021. As of June 30, 2021, the company had 12,857,578 issued shares (excluding treasury stock) and 478,417 treasury shares. Announcement • May 28
BEENOS Inc. (TSE:3328) announces an Equity Buyback for 160,000 shares, representing 1.23% for ¥800 million. BEENOS Inc. (TSE:3328) announces a share repurchase program. Under the program, the company will repurchase up to 160,000 shares, representing 1.23% of its issued share capital (excluding treasury stock), for a total purchase price of ¥800 million. The purpose of the program is to pursue a timely and flexible capital policy in response to changes in the operating environment. The program will be valid till June 30, 2021. As of May 27, 2021, the company had 12,996,793 issued shares (excluding treasury stock) and 339,202 treasury shares. Major Estimate Revision • May 13
Consensus EPS estimates increase to JP¥236 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from JP¥27.3b to JP¥28.6b. EPS estimate increased from JP¥163 to JP¥236 per share. Net income forecast to grow 496% next year vs 13% growth forecast for Online Retail industry in Japan. Consensus price target of JP¥3,600 unchanged from last update. Share price rose 10% to JP¥3,255 over the past week. Reported Earnings • May 08
Second quarter 2021 earnings released: EPS JP¥12.57 (vs JP¥9.13 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: JP¥6.15b (flat on 2Q 2020). Net income: JP¥162.0m (up 39% from 2Q 2020). Profit margin: 2.6% (up from 1.9% in 2Q 2020). 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 28% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Mar 11
Analysts lower EPS estimates to JP¥164 The 2021 consensus revenue estimate was lowered from JP¥30.1b to JP¥28.1b. Earning per share (EPS) estimate was also lowered from JP¥241 to JP¥164 for the same period. Net income is expected to grow by 420% next year compared to 13% growth forecast for the Online Retail industry in Japan. The consensus price target of JP¥3,450 was unchanged from the last update. Share price is up 16% to JP¥2,798 over the past week.