Announcement • Jun 03
WILLPLUS Holdings Corporation to Report Fiscal Year 2026 Results on Aug 13, 2026 WILLPLUS Holdings Corporation announced that they will report fiscal year 2026 results on Aug 13, 2026 Reported Earnings • May 18
Third quarter 2026 earnings released: EPS: JP¥12.98 (vs JP¥51.61 in 3Q 2025) Third quarter 2026 results: EPS: JP¥12.98 (down from JP¥51.61 in 3Q 2025). Revenue: JP¥25.7b (up 2.2% from 3Q 2025). Net income: JP¥118.0m (down 75% from 3Q 2025). Profit margin: 0.5% (down from 1.9% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 10
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th June 2026 Payment date: 11th September 2026 Dividend yield will be 4.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Second quarter 2026 earnings released: EPS: JP¥53.56 (vs JP¥43.88 in 2Q 2025) Second quarter 2026 results: EPS: JP¥53.56 (up from JP¥43.88 in 2Q 2025). Revenue: JP¥21.4b (up 1.7% from 2Q 2025). Net income: JP¥487.0m (up 22% from 2Q 2025). Profit margin: 2.3% (up from 1.9% in 2Q 2025). The increase in margin was driven by higher revenue. 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 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 10 March 2026. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Announcement • Dec 03
WILLPLUS Holdings Corporation to Report Q2, 2026 Results on Feb 12, 2026 WILLPLUS Holdings Corporation announced that they will report Q2, 2026 results on Feb 12, 2026 Reported Earnings • Nov 16
First quarter 2026 earnings released: EPS: JP¥25.52 (vs JP¥29.91 in 1Q 2025) First quarter 2026 results: EPS: JP¥25.52 (down from JP¥29.91 in 1Q 2025). Revenue: JP¥20.7b (up 3.4% from 1Q 2025). Net income: JP¥232.0m (down 15% from 1Q 2025). Profit margin: 1.1% (down from 1.4% in 1Q 2025). The decrease in margin was driven by higher expenses. 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 3% per year, which means it is significantly lagging earnings. Board Change • Oct 17
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Kazuhiro Ueno was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 17
WILLPLUS Holdings Corporation (TSE:3538) signed a letter of intent to acquire BMW authorized dealership business of Wako Motoren K.K. from Wako Motoren K.K. WILLPLUS Holdings Corporation (TSE:3538) signed a letter of intent to acquire BMW authorized dealership business of Wako Motoren K.K. from Wako Motoren K.K. on October 16, 2025. The expected completion of the transaction is early January 2026. Declared Dividend • Oct 05
Final dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 29th December 2025 Payment date: 10th March 2026 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 03
WILLPLUS Holdings Corporation to Report Q1, 2026 Results on Nov 13, 2025 WILLPLUS Holdings Corporation announced that they will report Q1, 2026 results on Nov 13, 2025 New Risk • Aug 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.6% Last year net profit margin: 2.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (JP¥9.08b market cap, or US$61.7m). Reported Earnings • Aug 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥158 (up from JP¥116 in FY 2024). Revenue: JP¥88.6b (up 86% from FY 2024). Net income: JP¥1.44b (up 28% from FY 2024). Profit margin: 1.6% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.0%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Announcement • Aug 14
WILLPLUS Holdings Corporation, Annual General Meeting, Sep 25, 2025 WILLPLUS Holdings Corporation, Annual General Meeting, Sep 25, 2025. Announcement • Jun 27
WILLPLUS Holdings Corporation to Report Fiscal Year 2025 Results on Aug 14, 2025 WILLPLUS Holdings Corporation announced that they will report fiscal year 2025 results on Aug 14, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of JP¥28.06 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 20 October 2025. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.6%). Reported Earnings • May 17
Third quarter 2025 earnings released: EPS: JP¥51.61 (vs JP¥23.37 in 3Q 2024) Third quarter 2025 results: EPS: JP¥51.61 (up from JP¥23.37 in 3Q 2024). Revenue: JP¥25.2b (up 108% from 3Q 2024). Net income: JP¥471.0m (up 107% from 3Q 2024). Profit margin: 1.9% (in line with 3Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 15
WILLPLUS Holdings Corporation (TSE:3538) announces an Equity Buyback for 80,000 shares, representing 0.88% for ¥100 million. WILLPLUS Holdings Corporation (TSE:3538) announces a share repurchase program. Under the program, the company will repurchase up to 80,000 shares, representing 0.88% of its issued share capital, for ¥ 100 million. The purpose of the program is to promote human capital management and improve the Company's corporate value. The program is valid till May 30, 2025. As of March 31, 2025, the company had 9,130,148 shares (excluding treasury stock) and 1,272,072 shares in treasury. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued Over the last 90 days, the stock has fallen 5.1% to JP¥949. The fair value is estimated to be JP¥790, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 53% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥850, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥796 per share. Declared Dividend • Mar 11
First half dividend of JP¥28.06 announced Shareholders will receive a dividend of JP¥28.06. Ex-date: 27th June 2025 Payment date: 20th October 2025 Dividend yield will be 4.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 06
WILLPLUS Holdings Corporation to Report Q3, 2025 Results on May 13, 2025 WILLPLUS Holdings Corporation announced that they will report Q3, 2025 results on May 13, 2025 Buy Or Sell Opportunity • Feb 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.6% to JP¥1,011. The fair value is estimated to be JP¥841, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Reported Earnings • Feb 15
Second quarter 2025 earnings released: EPS: JP¥43.88 (vs JP¥24.75 in 2Q 2024) Second quarter 2025 results: EPS: JP¥43.88 (up from JP¥24.75 in 2Q 2024). Revenue: JP¥21.0b (up 83% from 2Q 2024). Net income: JP¥400.0m (up 66% from 2Q 2024). Profit margin: 1.9% (down from 2.1% in 2Q 2024). Revenue is forecast to grow 15% 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 fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 March 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Announcement • Dec 06
WILLPLUS Holdings Corporation to Report Q2, 2025 Results on Feb 13, 2025 WILLPLUS Holdings Corporation announced that they will report Q2, 2025 results on Feb 13, 2025 Reported Earnings • Nov 16
First quarter 2025 earnings released: EPS: JP¥29.91 (vs JP¥20.58 in 1Q 2024) First quarter 2025 results: EPS: JP¥29.91 (up from JP¥20.58 in 1Q 2024). Revenue: JP¥20.0b (up 76% from 1Q 2024). Net income: JP¥272.0m (up 36% from 1Q 2024). Profit margin: 1.4% (down from 1.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% 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 fallen by 16% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Declared Dividend • Oct 19
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th December 2024 Payment date: 11th March 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 26% per year over the past 8 years. However, payments have been volatile 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. Announcement • Oct 17
WILLPLUS Holdings Corporation (TSE:3538) agreed to acquire Orion Auto Sales Co., Ltd. from Takayuki Nakamura and five other individuals for approximately ¥130 million. WILLPLUS Holdings Corporation (TSE:3538) agreed to acquire Orion Auto Sales Co., Ltd. from Takayuki Nakamura and five other individuals for approximately ¥130 million on October 16, 2024. A cash consideration of ¥133 million will be paid by WILLPLUS Holdings Corporation. As part of consideration, ¥133 million is paid towards common equity of Orion Auto Sales Co., Ltd. The expected completion of the transaction is December 1, 2024. Reported Earnings • Oct 03
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥116 (down from JP¥135 in FY 2023). Revenue: JP¥47.7b (up 8.2% from FY 2023). Net income: JP¥1.12b (down 14% from FY 2023). Profit margin: 2.4% (down from 3.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is forecast to grow 20% 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 fallen by 17% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Sep 03
WILLPLUS Holdings Corporation to Report Q1, 2025 Results on Nov 12, 2024 WILLPLUS Holdings Corporation announced that they will report Q1, 2025 results on Nov 12, 2024 Reported Earnings • Aug 19
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥116 (down from JP¥135 in FY 2023). Revenue: JP¥47.7b (up 8.2% from FY 2023). Net income: JP¥1.12b (down 14% from FY 2023). Profit margin: 2.4% (down from 3.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is forecast to grow 10% p.a. on average during the next 2 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 fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Aug 14
WILLPLUS Holdings Corporation, Annual General Meeting, Sep 26, 2024 WILLPLUS Holdings Corporation, Annual General Meeting, Sep 26, 2024. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥968, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 1.7% over the past three years. Announcement • Jun 17
WILLPLUS Holdings Corporation to Report Fiscal Year 2024 Results on Aug 14, 2024 WILLPLUS Holdings Corporation announced that they will report fiscal year 2024 results on Aug 14, 2024 Reported Earnings • May 19
Third quarter 2024 earnings released: EPS: JP¥23.37 (vs JP¥38.39 in 3Q 2023) Third quarter 2024 results: EPS: JP¥23.37 (down from JP¥38.39 in 3Q 2023). Revenue: JP¥12.1b (up 15% from 3Q 2023). Net income: JP¥228.0m (down 38% from 3Q 2023). Profit margin: 1.9% (down from 3.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% 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 13% per year whereas the company’s share price has fallen by 9% per year. Board Change • Apr 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. GM of Management Headquarters & Director Takuya Yoda was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 03
WILLPLUS Holdings Corporation to Report Q3, 2024 Results on May 14, 2024 WILLPLUS Holdings Corporation announced that they will report Q3, 2024 results on May 14, 2024 Declared Dividend • Feb 16
First half dividend of JP¥27.51 announced Shareholders will receive a dividend of JP¥27.51. Ex-date: 27th June 2024 Payment date: 13th September 2024 Dividend yield will be 4.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 26% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 15
Second quarter 2024 earnings released: EPS: JP¥24.75 (vs JP¥32.74 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.75 (down from JP¥32.74 in 2Q 2023). Revenue: JP¥11.5b (up 6.1% from 2Q 2023). Net income: JP¥241.0m (down 23% from 2Q 2023). Profit margin: 2.1% (down from 2.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥16.00 per share at 4.4% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 11 March 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Announcement • Dec 06
WILLPLUS Holdings Corporation to Report Q2, 2024 Results on Feb 13, 2024 WILLPLUS Holdings Corporation announced that they will report Q2, 2024 results on Feb 13, 2024 Reported Earnings • Nov 20
First quarter 2024 earnings released: EPS: JP¥20.58 (vs JP¥33.34 in 1Q 2023) First quarter 2024 results: EPS: JP¥20.58 (down from JP¥33.34 in 1Q 2023). Revenue: JP¥11.4b (up 16% from 1Q 2023). Net income: JP¥200.0m (down 37% from 1Q 2023). Profit margin: 1.8% (down from 3.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 13
WILLPLUS Holdings Corporation to Report Q1, 2024 Results on Nov 14, 2023 WILLPLUS Holdings Corporation announced that they will report Q1, 2024 results on Nov 14, 2023 New Risk • Aug 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 39% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (39% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥11.0b market cap, or US$75.6m). Announcement • Aug 16
WILLPLUS Holdings Corporation, Annual General Meeting, Sep 27, 2023 WILLPLUS Holdings Corporation, Annual General Meeting, Sep 27, 2023. Reported Earnings • Aug 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥135 (down from JP¥163 in FY 2022). Revenue: JP¥44.1b (up 11% from FY 2022). Net income: JP¥1.30b (down 16% from FY 2022). Profit margin: 3.0% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 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 increased by 11% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥26.17 per share at 3.4% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.3%). Announcement • Jun 04
WILLPLUS Holdings Corporation to Report Fiscal Year 2023 Results on Aug 14, 2023 WILLPLUS Holdings Corporation announced that they will report fiscal year 2023 results on Aug 14, 2023 Reported Earnings • May 13
Third quarter 2023 earnings released: EPS: JP¥38.39 (vs JP¥39.39 in 3Q 2022) Third quarter 2023 results: EPS: JP¥38.39 (down from JP¥39.39 in 3Q 2022). Revenue: JP¥10.5b (up 9.4% from 3Q 2022). Net income: JP¥370.0m (down 1.3% from 3Q 2022). Profit margin: 3.5% (down from 3.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Board Change • Mar 19
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Nobuo Iwabuchi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 12
Second quarter 2023 earnings released: EPS: JP¥32.74 (vs JP¥51.92 in 2Q 2022) Second quarter 2023 results: EPS: JP¥32.74 (down from JP¥51.92 in 2Q 2022). Revenue: JP¥10.9b (up 4.3% from 2Q 2022). Net income: JP¥314.0m (down 36% from 2Q 2022). Profit margin: 2.9% (down from 4.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 10 March 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Announcement • Dec 04
WILLPLUS Holdings Corporation to Report Q2, 2023 Results on Feb 10, 2023 WILLPLUS Holdings Corporation announced that they will report Q2, 2023 results on Feb 10, 2023 Reported Earnings • Nov 16
First quarter 2023 earnings released: EPS: JP¥33.34 (vs JP¥41.83 in 1Q 2022) First quarter 2023 results: EPS: JP¥33.34 (down from JP¥41.83 in 1Q 2022). Revenue: JP¥9.81b (up 2.6% from 1Q 2022). Net income: JP¥319.0m (down 20% from 1Q 2022). Profit margin: 3.3% (down from 4.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
First quarter 2023 earnings released: EPS: JP¥33.34 (vs JP¥41.83 in 1Q 2022) First quarter 2023 results: EPS: JP¥33.34 (down from JP¥41.83 in 1Q 2022). Revenue: JP¥9.81b (up 2.6% from 1Q 2022). Net income: JP¥319.0m (down 20% from 1Q 2022). Profit margin: 3.3% (down from 4.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Aug 14
WILLPLUS Holdings Corporation, Annual General Meeting, Sep 28, 2022 WILLPLUS Holdings Corporation, Annual General Meeting, Sep 28, 2022. Reported Earnings • Aug 14
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥163 (up from JP¥161 in FY 2021). Revenue: JP¥39.7b (down 2.6% from FY 2021). Net income: JP¥1.55b (up 1.1% from FY 2021). Profit margin: 3.9% (up from 3.8% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 12%, compared to a 7.9% growth forecast for the retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥29.90 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.7%). Announcement • Jun 05
WILLPLUS Holdings Corporation to Report Fiscal Year 2022 Results on Aug 12, 2022 WILLPLUS Holdings Corporation announced that they will report fiscal year 2022 results on Aug 12, 2022 Reported Earnings • May 13
Third quarter 2022 earnings released: EPS: JP¥39.39 (vs JP¥37.17 in 3Q 2021) Third quarter 2022 results: EPS: JP¥39.39 (up from JP¥37.17 in 3Q 2021). Revenue: JP¥9.64b (down 2.0% from 3Q 2021). Net income: JP¥375.0m (up 6.2% from 3Q 2021). Profit margin: 3.9% (up from 3.6% in 3Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 7.2%, compared to a 7.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). External Auditor Kaori Suzuki was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 07
WILLPLUS Holdings Corporation to Report Q3, 2022 Results on May 11, 2022 WILLPLUS Holdings Corporation announced that they will report Q3, 2022 results on May 11, 2022 Buying Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.3%. The fair value is estimated to be JP¥1,135, 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 30%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to decline by 2.5% in the next 2 years. Buying Opportunity • Mar 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.5%. The fair value is estimated to be JP¥1,113, 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% per annum over the last 3 years. Earnings per share has grown by 30% per annum over the last 3 years. Reported Earnings • Feb 12
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: JP¥51.92 (down from JP¥52.06 in 2Q 2021). Revenue: JP¥10.4b (down 2.4% from 2Q 2021). Net income: JP¥494.0m (flat on 2Q 2021). Profit margin: 4.7% (up from 4.6% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.4%, compared to a 7.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 10 March 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). Reported Earnings • Nov 12
First quarter 2022 earnings released: EPS JP¥41.83 (vs JP¥32.25 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥9.56b (up 3.4% from 1Q 2021). Net income: JP¥398.0m (up 30% from 1Q 2021). Profit margin: 4.2% (up from 3.3% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 05
Full year 2021 earnings released: EPS JP¥161 (vs JP¥85.30 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥40.8b (up 16% from FY 2020). Net income: JP¥1.53b (up 91% from FY 2020). Profit margin: 3.8% (up from 2.3% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥20.79 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 30 September 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.1%). Higher than average of industry peers (1.3%). Reported Earnings • May 12
Third quarter 2021 earnings released: EPS JP¥37.17 (vs JP¥16.79 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥9.84b (up 12% from 3Q 2020). Net income: JP¥353.0m (up 123% from 3Q 2020). Profit margin: 3.6% (up from 1.8% 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 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 05
WILLPLUS Holdings Corporation to Report Q3, 2021 Results on May 10, 2021 WILLPLUS Holdings Corporation announced that they will report Q3, 2021 results on May 10, 2021 Is New 90 Day High Low • Mar 03
New 90-day high: JP¥1,176 The company is up 67% from its price of JP¥704 on 03 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 9.0% over the same period. Reported Earnings • Feb 14
Second quarter 2021 earnings released: EPS JP¥52.06 (vs JP¥18.89 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥10.7b (up 38% from 2Q 2020). Net income: JP¥494.0m (up 179% from 2Q 2020). Profit margin: 4.6% (up from 2.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥969, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 13x in the Specialty Retail industry in Japan. Total return to shareholders over the past three years is a loss of 24%. Is New 90 Day High Low • Feb 08
New 90-day high: JP¥829 The company is up 34% from its price of JP¥620 on 10 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: JP¥773 The company is up 32% from its price of JP¥587 on 22 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: JP¥727 The company is up 31% from its price of JP¥554 on 30 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 10.0% over the same period. Announcement • Dec 04
WILLPLUS Holdings Corporation to Report Q2, 2021 Results on Feb 10, 2021 WILLPLUS Holdings Corporation announced that they will report Q2, 2021 results on Feb 10, 2021 Is New 90 Day High Low • Dec 02
New 90-day high: JP¥684 The company is up 16% from its price of JP¥588 on 03 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 15% over the same period.