Reported Earnings • May 30
Full year 2025 earnings released: JP¥178 loss per share (vs JP¥24.25 profit in FY 2024) Full year 2025 results: JP¥178 loss per share (down from JP¥24.25 profit in FY 2024). Revenue: JP¥14.7b (down 18% from FY 2024). Net loss: JP¥2.34b (down JP¥2.65b from profit in FY 2024). New Risk • May 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (JP¥7.84b market cap, or US$49.3m). Announcement • Dec 26
J.E.T. Co., Ltd. to Report Fiscal Year 2025 Results on Feb 06, 2026 J.E.T. Co., Ltd. announced that they will report fiscal year 2025 results on Feb 06, 2026 Reported Earnings • Nov 09
Third quarter 2025 earnings released: JP¥6.93 loss per share (vs JP¥8.08 profit in 3Q 2024) Third quarter 2025 results: JP¥6.93 loss per share (down from JP¥8.08 profit in 3Q 2024). Revenue: JP¥3.74b (down 14% from 3Q 2024). Net loss: JP¥91.0m (down 186% from profit in 3Q 2024). Buy Or Sell Opportunity • Sep 22
Now 21% undervalued Over the last 90 days, the stock has risen 33% to JP¥1,002. The fair value is estimated to be JP¥1,263, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Meanwhile, the company became loss making. New Risk • Sep 08
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 8.3% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 26% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥13.0b market cap, or US$87.9m). Announcement • Sep 01
J.E.T. Co., Ltd. to Report Q3, 2025 Results on Nov 07, 2025 J.E.T. Co., Ltd. announced that they will report Q3, 2025 results on Nov 07, 2025 Reported Earnings • Aug 10
Second quarter 2025 earnings released: JP¥152 loss per share (vs JP¥26.09 profit in 2Q 2024) Second quarter 2025 results: JP¥152 loss per share (down from JP¥26.09 profit in 2Q 2024). Revenue: JP¥4.75b (down 34% from 2Q 2024). Net loss: JP¥2.00b (down JP¥2.34b from profit in 2Q 2024). New Risk • May 11
New major risk - Revenue and earnings growth Earnings have declined by 8.5% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 (11% average weekly change). Earnings have declined by 8.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥10.8b market cap, or US$74.2m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥798, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 12x in the Semiconductor industry in Japan. Total loss to shareholders of 78% over the past year. Announcement • Mar 13
J.E.T. Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 J.E.T. Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Feb 08
Full year 2024 earnings released: EPS: JP¥24.25 (vs JP¥140 in FY 2023) Full year 2024 results: EPS: JP¥24.25 (down from JP¥140 in FY 2023). Revenue: JP¥17.9b (down 28% from FY 2023). Net income: JP¥318.0m (down 81% from FY 2023). Profit margin: 1.8% (down from 6.6% in FY 2023). The decrease in margin was driven by lower revenue. Announcement • Feb 07
J.E.T. Co., Ltd., Annual General Meeting, Mar 26, 2025 J.E.T. Co., Ltd., Annual General Meeting, Mar 26, 2025. New Risk • Jan 06
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 8.1% 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 • Jan 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,220, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 14x in the Semiconductor industry in Japan. Total loss to shareholders of 60% over the past year. Announcement • Jan 03
J.E.T. Co., Ltd. to Report Fiscal Year 2024 Results on Feb 07, 2025 J.E.T. Co., Ltd. announced that they will report fiscal year 2024 results on Feb 07, 2025 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: 28 March 2025. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (1.7%). New Risk • Nov 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.0b (US$97.3m) 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 Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Market cap is less than US$100m (JP¥15.0b market cap, or US$97.3m). Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: JP¥8.08 (vs JP¥54.32 in 3Q 2023) Third quarter 2024 results: EPS: JP¥8.08 (down from JP¥54.32 in 3Q 2023). Revenue: JP¥4.32b (down 46% from 3Q 2023). Net income: JP¥106.0m (down 83% from 3Q 2023). Profit margin: 2.5% (down from 7.8% in 3Q 2023). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥1,562, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 16x in the Semiconductor industry in Japan. Announcement • Aug 28
J.E.T. Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 J.E.T. Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: JP¥15.65 (vs JP¥28.74 in 2Q 2023) Second quarter 2024 results: EPS: JP¥15.65. Revenue: JP¥7.17b (up 21% from 2Q 2023). Net income: JP¥342.0m (up 5.2% from 2Q 2023). Profit margin: 4.8% (down from 5.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Declared Dividend • Aug 11
Dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th December 2024 Payment date: 28th March 2025 Dividend yield will be 1.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (27% 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 company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 7.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥1,543, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 13x in the Semiconductor industry in Japan. New Risk • Aug 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (16% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,234, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 19x in the Semiconductor industry in Japan. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥3,290, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 22x in the Semiconductor industry in Japan. Announcement • Jun 02
J.E.T. Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 J.E.T. Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 13
First quarter 2024 earnings released: JP¥10.30 loss per share (vs JP¥28.38 profit in 1Q 2023) First quarter 2024 results: JP¥10.30 loss per share (down from JP¥28.38 profit in 1Q 2023). Revenue: JP¥2.80b (down 52% from 1Q 2023). Net loss: JP¥45.0m (down 114% from profit in 1Q 2023). Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,470, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 19x in the Semiconductor industry in Japan. Total returns to shareholders of 286% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥3,130, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 248% over the past three years. Announcement • Mar 28
J.E.T. Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 J.E.T. Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Mar 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (16% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥8,300, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 23x in the Semiconductor industry in Japan. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥9,590, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 21x in the Semiconductor industry in Japan. Reported Earnings • Feb 10
Full year 2023 earnings released: EPS: JP¥419 (vs JP¥318 in FY 2022) Full year 2023 results: EPS: JP¥419 (up from JP¥318 in FY 2022). Revenue: JP¥25.0b (up 8.1% from FY 2022). Net income: JP¥1.65b (up 38% from FY 2022). Profit margin: 6.6% (up from 5.2% in FY 2022). The increase in margin was driven by higher revenue. Announcement • Feb 09
J.E.T. Co., Ltd., Annual General Meeting, Mar 27, 2024 J.E.T. Co., Ltd., Annual General Meeting, Mar 27, 2024. Announcement • Jan 17
J.E.T. Co., Ltd. to Report Fiscal Year 2023 Results on Feb 09, 2024 J.E.T. Co., Ltd. announced that they will report fiscal year 2023 results on Feb 09, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥76.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥7,040, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 17x in the Semiconductor industry in Japan. Reported Earnings • Nov 20
Third quarter 2023 earnings released: EPS: JP¥163 (vs JP¥145 in 3Q 2022) Third quarter 2023 results: EPS: JP¥163 (up from JP¥145 in 3Q 2022). Revenue: JP¥8.00b (up 23% from 3Q 2022). Net income: JP¥624.0m (up 14% from 3Q 2022). Profit margin: 7.8% (down from 8.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,330, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 16x in the Semiconductor industry in Japan. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,770, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 14x in the Semiconductor industry in Japan. Announcement • Oct 05
J.E.T. Co., Ltd. to Report Q3, 2023 Results on Nov 14, 2023 J.E.T. Co., Ltd. announced that they will report Q3, 2023 results on Nov 14, 2023 New Risk • Sep 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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: Major Risk Shares are highly illiquid. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Shareholders have been diluted in the past year (16% increase in shares outstanding).