Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥409, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Specialty Retail industry in Japan. Total returns to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥544 per share. Reported Earnings • Jun 16
First quarter 2027 earnings released: EPS: JP¥5.35 (vs JP¥4.37 in 1Q 2026) First quarter 2027 results: EPS: JP¥5.35 (up from JP¥4.37 in 1Q 2026). Revenue: JP¥6.13b (up 24% from 1Q 2026). Net income: JP¥235.0m (up 24% from 1Q 2026). Profit margin: 3.8% (in line with 1Q 2026). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 18
TOKYO BASE Co.,Ltd. (TSE:3415) announces an Equity Buyback for 1,500,000 shares, representing 3.41% for ¥500 million. TOKYO BASE Co.,Ltd. (TSE:3415) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 3.41% of its issued share capital for a total price of ¥500 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The repurchase plan will be valid till June 30, 2026. As of May 18, 2026, the company has 43,959,482 shares in issue and 13 shares in treasury. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥332, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Specialty Retail industry in Japan. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥454 per share. New Risk • May 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.6b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (168% cash payout ratio). Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (JP¥15.6b market cap, or US$99.0m). Buy Or Sell Opportunity • May 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to JP¥355. The fair value is estimated to be JP¥451, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 9.6% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥461, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥759 per share. Reported Earnings • Mar 19
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: JP¥27.80 (up from JP¥17.83 in FY 2025). Revenue: JP¥23.7b (up 18% from FY 2025). Net income: JP¥1.21b (up 56% from FY 2025). Profit margin: 5.1% (up from 3.8% in FY 2025). 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. Revenue is forecast to grow 11% 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 96% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 17
TOKYO BASE Co.,Ltd., Annual General Meeting, Apr 22, 2026 TOKYO BASE Co.,Ltd., Annual General Meeting, Apr 22, 2026. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥440, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥764 per share. New Risk • Feb 07
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 7.9% 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 (7.9% average weekly change). Minor Risk High level of debt (42% net debt to equity). Buy Or Sell Opportunity • Jan 29
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to JP¥408. The fair value is estimated to be JP¥530, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Upcoming Dividend • Jan 22
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 20% and the cash payout ratio is 84%. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.4%). Announcement • Jan 07
TOKYO BASE Co.,Ltd. to Report Fiscal Year 2026 Results on Mar 17, 2026 TOKYO BASE Co.,Ltd. announced that they will report fiscal year 2026 results on Mar 17, 2026 Buy Or Sell Opportunity • Dec 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to JP¥421. The fair value is estimated to be JP¥532, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Announcement • Dec 10
TOKYO BASE Co.,Ltd. to Report Q3, 2026 Results on Dec 15, 2025 TOKYO BASE Co.,Ltd. announced that they will report Q3, 2026 results on Dec 15, 2025 Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥459, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥546 per share. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥389, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥448 per share. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥468, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥445 per share. Declared Dividend • Sep 18
Dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 29th January 2026 Payment date: 24th April 2026 Dividend yield will be 1.3%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (22% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 32% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 17
Second quarter 2026 earnings released: EPS: JP¥6.28 (vs JP¥3.62 in 2Q 2025) Second quarter 2026 results: EPS: JP¥6.28 (up from JP¥3.62 in 2Q 2025). Revenue: JP¥5.35b (up 23% from 2Q 2025). Net income: JP¥273.0m (up 75% from 2Q 2025). Profit margin: 5.1% (up from 3.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Announcement • Sep 16
Tokyo Base Co.,Ltd. Provides Consolidated Earnings Guidance for the Year Ending January 31, 2026 TOKYO BASE Co.,Ltd. provided consolidated earnings guidance for the year ending January 31, 2026. For the period, the company expects net sales of ¥23,000 million, operating profit of ¥1,900 million, profit attributable to owners of parent of ¥1,200 million and earnings per share of ¥27.61. Buy Or Sell Opportunity • Sep 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to JP¥548. The fair value is estimated to be JP¥454, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has grown by 110%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Major Estimate Revision • Jul 10
Consensus EPS estimates increase by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥21.3b to JP¥22.8b. EPS estimate increased from JP¥20.20 to JP¥25.30 per share. Net income forecast to grow 31% next year vs 11% growth forecast for Specialty Retail industry in Japan. Consensus price target up from JP¥300 to JP¥390. Share price rose 3.9% to JP¥427 over the past week. Announcement • Jun 26
TOKYO BASE Co.,Ltd. to Report Q2, 2026 Results on Sep 16, 2025 TOKYO BASE Co.,Ltd. announced that they will report Q2, 2026 results on Sep 16, 2025 Reported Earnings • Jun 18
First quarter 2026 earnings released: EPS: JP¥4.37 (vs JP¥2.23 in 1Q 2025) First quarter 2026 results: EPS: JP¥4.37 (up from JP¥2.23 in 1Q 2025). Revenue: JP¥4.94b (up 3.6% from 1Q 2025). Net income: JP¥190.0m (up 90% from 1Q 2025). Profit margin: 3.8% (up from 2.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. New Risk • Jun 04
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JP¥392, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Specialty 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¥226 per share. Announcement • Apr 29
TOKYO BASE Co.,Ltd. to Report Q1, 2026 Results on Jun 16, 2025 TOKYO BASE Co.,Ltd. announced that they will report Q1, 2026 results on Jun 16, 2025 Buy Or Sell Opportunity • Apr 08
Now 24% overvalued Over the last 90 days, the stock has fallen 24% to JP¥242. The fair value is estimated to be JP¥195, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥221, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥196 per share. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥276, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥195 per share. Reported Earnings • Mar 18
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥17.83 (up from JP¥7.30 in FY 2024). Revenue: JP¥20.2b (up 1.1% from FY 2024). Net income: JP¥776.0m (up 132% from FY 2024). Profit margin: 3.8% (up from 1.7% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Mar 17
TOKYO BASE Co.,Ltd., Annual General Meeting, Apr 23, 2025 TOKYO BASE Co.,Ltd., Annual General Meeting, Apr 23, 2025. Announcement • Feb 07
TOKYO BASE Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 17, 2025 TOKYO BASE Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 17, 2025 Upcoming Dividend • Jan 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 22 April 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Reported Earnings • Dec 17
Third quarter 2025 earnings released: EPS: JP¥0.77 (vs JP¥3.82 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥0.77 (up from JP¥3.82 loss in 3Q 2024). Revenue: JP¥4.43b (down 4.8% from 3Q 2024). Net income: JP¥33.0m (up JP¥208.0m from 3Q 2024). Profit margin: 0.7% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 2.7% 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 fallen by 2% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Nov 30
TOKYO BASE Co.,Ltd. to Report Q3, 2025 Results on Dec 16, 2024 TOKYO BASE Co.,Ltd. announced that they will report Q3, 2025 results on Dec 16, 2024 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 6.6% 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 (6.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥10.8b market cap, or US$71.3m). Buy Or Sell Opportunity • Nov 01
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥254. The fair value is estimated to be JP¥209, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Buy Or Sell Opportunity • Oct 16
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to JP¥251. The fair value is estimated to be JP¥209, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Declared Dividend • Sep 19
Dividend of JP¥5.00 announced Shareholders will receive a dividend of JP¥5.00. Ex-date: 30th January 2025 Payment date: 22nd April 2025 Dividend yield will be 1.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 36% per year over the past 3 years and payments have been stable during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Sep 19
Now 23% overvalued Over the last 90 days, the stock has fallen 12% to JP¥261. The fair value is estimated to be JP¥213, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Sep 18
Second quarter 2025 earnings released: EPS: JP¥3.62 (vs JP¥4.23 in 2Q 2024) Second quarter 2025 results: EPS: JP¥3.62 (down from JP¥4.23 in 2Q 2024). Revenue: JP¥4.34b (down 12% from 2Q 2024). Net income: JP¥156.0m (down 20% from 2Q 2024). Profit margin: 3.6% (down from 3.9% in 2Q 2024). Revenue is forecast to grow 2.1% 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 fallen by 28% per year whereas the company’s share price has fallen by 26% per year. Major Estimate Revision • Aug 07
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥20.7b to JP¥19.6b. EPS estimate also fell from JP¥22.90 per share to JP¥17.45 per share. Net income forecast to grow 97% next year vs 12% growth forecast for Specialty Retail industry in Japan. Consensus price target down from JP¥370 to JP¥335. Share price fell 19% to JP¥226 over the past week. New Risk • Aug 05
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks 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 (6.3% average weekly change). Market cap is less than US$100m (JP¥9.43b market cap, or US$66.2m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥219, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total loss to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥340 per share. Buy Or Sell Opportunity • Aug 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.2% to JP¥270. The fair value is estimated to be JP¥339, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Announcement • Jul 05
TOKYO BASE Co.,Ltd. to Report Q2, 2025 Results on Sep 17, 2024 TOKYO BASE Co.,Ltd. announced that they will report Q2, 2025 results on Sep 17, 2024 Reported Earnings • Jun 16
First quarter 2025 earnings released: EPS: JP¥2.23 (vs JP¥0.022 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥2.23 (up from JP¥0.022 loss in 1Q 2024). Revenue: JP¥4.77b (up 1.0% from 1Q 2024). Net income: JP¥100.0m (up JP¥101.0m from 1Q 2024). Profit margin: 2.1% (up from 0% in 1Q 2024). Revenue is forecast to grow 4.5% 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 fallen by 37% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • May 05
TOKYO BASE Co.,Ltd. to Report Q1, 2025 Results on Jun 14, 2024 TOKYO BASE Co.,Ltd. announced that they will report Q1, 2025 results on Jun 14, 2024 Reported Earnings • Mar 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥7.30 (up from JP¥11.75 loss in FY 2023). Revenue: JP¥20.0b (up 4.2% from FY 2023). Net income: JP¥335.0m (up JP¥874.0m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Mar 19
TOKYO BASE Co.,Ltd. (TSE:3415) announces an Equity Buyback for 3,000,000 shares, representing 6.53% for ¥1,000 million. TOKYO BASE Co.,Ltd. (TSE:3415) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 6.53% of its issued share capital for a total price of ¥1,000 million. The purpose of the program is to improve shareholder returns, capital efficiency, and to implement flexible capital policies according to the business environment. The repurchase plan will be valid till March 22, 2024. As of March 18, 2024, the company has 45,966,382 shares in issue and 0 shares in treasury. Buy Or Sell Opportunity • Mar 18
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to JP¥343. The fair value is estimated to be JP¥280, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 35% per annum over the same time period. Buy Or Sell Opportunity • Feb 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to JP¥318. The fair value is estimated to be JP¥260, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Announcement • Jan 28
TOKYO BASE Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 18, 2024 TOKYO BASE Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 18, 2024 Upcoming Dividend • Jan 23
Upcoming dividend of JP¥4.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 26 April 2024. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.4%). Price Target Changed • Dec 20
Price target decreased by 22% to JP¥340 Down from JP¥435, the current price target is provided by 1 analyst. New target price is 22% above last closing price of JP¥279. Stock is up 9.8% over the past year. The company is forecast to post earnings per share of JP¥8.70 next year compared to a net loss per share of JP¥11.75 last year. Reported Earnings • Dec 16
Third quarter 2024 earnings released: JP¥3.82 loss per share (vs JP¥1.50 profit in 3Q 2023) Third quarter 2024 results: JP¥3.82 loss per share (down from JP¥1.50 profit in 3Q 2023). Revenue: JP¥4.65b (down 21% from 3Q 2023). Net loss: JP¥175.0m (down 354% from profit in 3Q 2023). Revenue is forecast to grow 4.0% 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, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 08
Price target decreased by 15% to JP¥435 Down from JP¥510, the current price target is an average from 2 analysts. New target price is 46% above last closing price of JP¥298. Stock is down 13% over the past year. The company is forecast to post earnings per share of JP¥22.90 next year compared to a net loss per share of JP¥11.75 last year. Announcement • Oct 20
TOKYO BASE Co.,Ltd. to Report Q3, 2024 Results on Dec 15, 2023 TOKYO BASE Co.,Ltd. announced that they will report Q3, 2024 results on Dec 15, 2023 Reported Earnings • Sep 16
Second quarter 2024 earnings released Second quarter 2024 results: EPS: JP¥4.23. Net income: JP¥194.0m (up JP¥194.0m from 2Q 2023). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Japan. Announcement • Sep 16
TOKYO BASE Co.,Ltd. Provides Consolidated Earnings Guidance for the Year Ending January 31, 2024 TOKYO BASE Co.,Ltd. provided consolidated earnings guidance for the year ending January 31, 2024. For the period, the company expects net sales of JPY 20,000 million, operating profit of JPY 1,500 million, profit attributable to owners of parent of JPY 1,000 million and earnings per share of JPY 21.80. New Risk • Aug 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥13.9b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (JP¥13.9b market cap, or US$96.9m). Announcement • Aug 03
TOKYO BASE Co.,Ltd. to Report Q2, 2024 Results on Sep 14, 2023 TOKYO BASE Co.,Ltd. announced that they will report Q2, 2024 results on Sep 14, 2023 Reported Earnings • Jun 16
First quarter 2024 earnings released First quarter 2024 results: JP¥0.023 loss per share. Net loss: JP¥1.05m (flat on 1Q 2023). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. New Risk • Jun 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 7.9% 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.