Reported Earnings • Mar 17
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥8.22 (down from JP¥10.91 in FY 2025). Revenue: JP¥6.30b (up 6.2% from FY 2025). Net income: JP¥326.0m (down 25% from FY 2025). Profit margin: 5.2% (down from 7.3% in FY 2025). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Specialty Retail industry in Japan. Announcement • Mar 16
Enigmo Inc., Annual General Meeting, Apr 27, 2026 Enigmo Inc., Annual General Meeting, Apr 27, 2026. New Risk • Mar 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.4b (US$96.7m) 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 211% Cash payout ratio: 202% Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (JP¥15.4b market cap, or US$96.7m). New Risk • Jan 29
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 211% Cash payout ratio: 202% Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (3.0% net profit margin). Upcoming Dividend • Jan 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 28 April 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Announcement • Dec 30
Enigmo Inc. to Report Fiscal Year 2026 Results on Mar 16, 2026 Enigmo Inc. announced that they will report fiscal year 2026 results on Mar 16, 2026 New Risk • Nov 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.6b (US$100.0m) 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: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Cash payout ratio: 202% Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risks Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (JP¥15.6b market cap, or US$100.0m). New Risk • Oct 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Cash payout ratio: 202% Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (4.0% net profit margin). Declared Dividend • Sep 15
Dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th January 2026 Payment date: 28th April 2026 Dividend yield will be 7.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (157% earnings payout ratio) nor is it covered by cash flows (175% cash payout ratio). The dividend has not increased over the past 4 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 74% to bring the payout ratio under control. EPS is expected to grow by 226% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Sep 12
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 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Cash payout ratio: 175% Minor Risk Market cap is less than US$100m (JP¥12.3b market cap, or US$83.5m). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥380, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 14x in the Specialty Retail industry in Japan. Total loss to shareholders of 22% over the past three years. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Outside Director Tsuyoshi Nishimoto 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 • Apr 03
Enigmo Inc. Decides to Pay an Ordinary Dividend for the Fiscal Year Ending January 2025, Effective Date Is April 28, 2025 Enigmo Inc. announced that it has resolved, at a meeting of the Board of Directors held on April 3, 2025, to pay dividends of surplus with a record date of January 31, 2025. The company has considered the business performance for the current fiscal year and the future business environment, the company has decided to pay an ordinary dividend of JPY 10 per share as the year-end dividend for the fiscal year ending January 2025. Effective date is April 28, 2025. Announcement • Mar 17
Enigmo Inc., Annual General Meeting, Apr 25, 2025 Enigmo Inc., Annual General Meeting, Apr 25, 2025. New Risk • Jan 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported January 2018 fiscal period end). Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (JP¥13.2b market cap, or US$84.7m). Upcoming Dividend • Jan 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 28 April 2025. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Announcement • Jan 03
Enigmo Inc. to Report Fiscal Year 2025 Results on Mar 17, 2025 Enigmo Inc. announced that they will report fiscal year 2025 results on Mar 17, 2025 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 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported January 2018 fiscal period end). Earnings are forecast to decline by an average of 7.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (JP¥11.1b market cap, or US$78.0m). Announcement • May 17
Enigmo Inc. (TSE:3665) agreed to acquire a 35.06% stake in Non Brokers Inc. for ¥220 million Enigmo Inc. (TSE:3665) agreed to acquire a 35.06% stake in Non Brokers Inc. for ¥220 million on May 15, 2024. Enigmo will acquire 162 shares. The transaction is expected to close on May 22, 2024. Announcement • Mar 16
Enigmo Inc., Annual General Meeting, Apr 25, 2024 Enigmo Inc., Annual General Meeting, Apr 25, 2024. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥10.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 30 April 2024. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Announcement • Jan 06
Enigmo Inc. to Report Fiscal Year 2024 Results on Mar 14, 2024 Enigmo Inc. announced that they will report fiscal year 2024 results on Mar 14, 2024 New Risk • Dec 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 5.6% 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: Major Risks Latest financial reports are more than 1 year old (reported January 2018 fiscal period end). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. 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 (5.6% average weekly change). Market cap is less than US$100m (JP¥14.7b market cap, or US$99.8m). New Risk • Aug 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.5b (US$99.6m) 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: Major Risks Latest financial reports are more than 1 year old (reported January 2018 fiscal period end). Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (JP¥14.5b market cap, or US$99.6m). Upcoming Dividend • Jan 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 January 2023. Payment date: 28 April 2023. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Jan 05
Enigmo Inc. to Report Fiscal Year 2023 Results on Mar 16, 2023 Enigmo Inc. announced that they will report fiscal year 2023 results on Mar 16, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Tetsuji Amemiya 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. Announcement • Oct 05
Enigmo Inc. to Report Q3, 2023 Results on Dec 14, 2022 Enigmo Inc. announced that they will report Q3, 2023 results on Dec 14, 2022 Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. 1 independent director (4 non-independent directors). Independent External Board Member Shinji Odashima was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 07
Enigmo Inc., Annual General Meeting, Apr 28, 2022 Enigmo Inc., Annual General Meeting, Apr 28, 2022. Upcoming Dividend • Jan 21
Inaugural dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 January 2022. Payment date: 02 May 2022. The company is not currently making a profit and is not cash flow positive. This is the first dividend for Enigmo since going public. The average dividend yield among industry peers is 1.0%. Announcement • Mar 19
Enigmo Inc., Annual General Meeting, Apr 28, 2021 Enigmo Inc., Annual General Meeting, Apr 28, 2021. Is New 90 Day High Low • Feb 26
New 90-day low: JP¥1,156 The company is down 12% from its price of JP¥1,319 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥1,232 The company is down 31% from its price of JP¥1,774 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 5.0% over the same period. Announcement • Dec 16
Enigmo Inc. to Report Fiscal Year 2021 Results on Mar 17, 2021 Enigmo Inc. announced that they will report fiscal year 2021 results on Mar 17, 2021 Price Target Changed • Dec 01
Price target raised to JP¥1,440 Up from JP¥955, the current price target is provided by 1 analyst. The new target price is 7.8% above the current share price of JP¥1,336. As of last close, the stock is up 28% over the past year. Announcement • Aug 09
Enigmo Inc. to Report Q2, 2021 Results on Sep 14, 2020 Enigmo Inc. announced that they will report Q2, 2021 results on Sep 14, 2020