Announcement • May 30
Estore Corporation to Delist from Standard Section of the Tokyo Stock Exchange, Effective June 20, 2025 Estore Corporation will be delisted from Standard Section of the Tokyo Stock Exchange effective from June 20, 2025, due to Reverse stock split. Reported Earnings • May 20
Full year 2025 earnings released: EPS: JP¥89.82 (vs JP¥90.22 in FY 2024) Full year 2025 results: EPS: JP¥89.82. Revenue: JP¥11.2b (down 11% from FY 2024). Net income: JP¥473.0m (up 2.4% from FY 2024). Profit margin: 4.2% (up from 3.7% in FY 2024). Announcement • May 15
Estore Corporation, Annual General Meeting, Jun 30, 2025 Estore Corporation, Annual General Meeting, Jun 30, 2025. Announcement • Mar 15
Estore Corporation to Report Fiscal Year 2025 Results on May 14, 2025 Estore Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 20
Third quarter 2025 earnings released: EPS: JP¥69.50 (vs JP¥59.08 in 3Q 2024) Third quarter 2025 results: EPS: JP¥69.50 (up from JP¥59.08 in 3Q 2024). Revenue: JP¥3.73b (down 14% from 3Q 2024). Net income: JP¥366.0m (up 20% from 3Q 2024). Profit margin: 9.8% (up from 7.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Jan 03
Estore Corporation to Report Q3, 2025 Results on Feb 14, 2025 Estore Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 New Risk • Dec 27
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 7.5% 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 (7.5% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (163% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥7.92b market cap, or US$50.2m). Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥1,504, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 17x in the IT industry in Japan. Total returns to shareholders of 9.0% over the past three years. New Risk • Nov 25
New major risk - Revenue and earnings growth Earnings have declined by 1.2% 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 Risk Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (163% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.7% increase in shares outstanding). Market cap is less than US$100m (JP¥6.89b market cap, or US$44.5m). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (JP¥7.33b market cap, or US$52.1m). Announcement • Sep 14
Estore Corporation to Report Q2, 2025 Results on Nov 14, 2024 Estore Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥4.56 (vs JP¥0.40 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.56 (up from JP¥0.40 in 1Q 2024). Revenue: JP¥2.45b (up 1.0% from 1Q 2024). Net income: JP¥24.0m (up JP¥22.0m from 1Q 2024). Profit margin: 1.0% (up from 0.1% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 14% per year. Buy Or Sell Opportunity • Aug 06
Now 26% overvalued Over the last 90 days, the stock has fallen 11% to JP¥1,162. The fair value is estimated to be JP¥922, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 11%. 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¥1,079, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 17x in the IT industry in Japan. Total loss to shareholders of 34% over the past three years. Announcement • Jun 28
Estore Corporation to Report Q1, 2025 Results on Aug 09, 2024 Estore Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 21
Full year 2024 earnings released: EPS: JP¥90.22 (vs JP¥61.05 in FY 2023) Full year 2024 results: EPS: JP¥90.22 (up from JP¥61.05 in FY 2023). Revenue: JP¥12.6b (up 33% from FY 2023). Net income: JP¥462.0m (up 51% from FY 2023). Profit margin: 3.7% (up from 3.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 15% per year. Announcement • May 17
Estore Corporation, Annual General Meeting, Jun 27, 2024 Estore Corporation, Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 03
Estore Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Estore Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Declared Dividend • Mar 02
Dividend of JP¥50.00 announced Dividend of JP¥50.00 is the same as last year. Ex-date: 28th March 2024 Payment date: 1st July 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (133% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: JP¥59.08 (vs JP¥26.05 in 3Q 2023) Third quarter 2024 results: EPS: JP¥59.08 (up from JP¥26.05 in 3Q 2023). Revenue: JP¥4.32b (up 13% from 3Q 2023). Net income: JP¥304.0m (up 132% from 3Q 2023). Profit margin: 7.0% (up from 3.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Board Change • Feb 02
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. 2 highly experienced directors. Outside Independent Director Mayumi Echigoya was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 29
Estore Corporation to Report Q3, 2024 Results on Feb 13, 2024 Estore Corporation announced that they will report Q3, 2024 results on Feb 13, 2024 New Risk • Dec 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.7% 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 Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (133% cash payout ratio). Profit margins are more than 30% lower than last year (3.2% net profit margin). Shareholders have been diluted in the past year (4.7% increase in shares outstanding). Market cap is less than US$100m (JP¥6.29b market cap, or US$44.2m). Reported Earnings • Nov 17
Second quarter 2024 earnings released: EPS: JP¥32.72 (vs JP¥10.94 in 2Q 2023) Second quarter 2024 results: EPS: JP¥32.72 (up from JP¥10.94 in 2Q 2023). Revenue: JP¥2.79b (up 87% from 2Q 2023). Net income: JP¥165.0m (up 200% from 2Q 2023). Profit margin: 5.9% (up from 3.7% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Sep 24
Estore Corporation to Report Q2, 2024 Results on Nov 13, 2023 Estore Corporation announced that they will report Q2, 2024 results on Nov 13, 2023 Announcement • Aug 24
Estore Corporation (TSE:4304) announces an Equity Buyback for 260,000 shares, representing 5.17% for ¥400 million. Estore Corporation (TSE:4304) announces a share repurchase program. Under the program, the company will repurchase 260,000 shares, representing 5.17% of total outstanding shares (excluding treasury shares), for a total cost of ¥400 million. The program is valid till August 28, 2023. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 Risk Earnings have declined by 0.7% per year over the past 5 years. 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 (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (JP¥6.50b market cap, or US$44.8m). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥0.40 (vs JP¥7.36 in 1Q 2023) First quarter 2024 results: EPS: JP¥0.40 (down from JP¥7.36 in 1Q 2023). Revenue: JP¥2.43b (up 78% from 1Q 2023). Net income: JP¥2.00m (down 95% from 1Q 2023). Profit margin: 0.1% (down from 2.7% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 3% per year, which means it is well ahead of earnings. Board Change • Jul 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. 2 highly experienced directors. Director Hiroyuki Tanaka was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 21
Estore Corporation to Report Q1, 2024 Results on Aug 14, 2023 Estore Corporation announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 20
Full year 2023 earnings released: EPS: JP¥61.05 (vs JP¥135 in FY 2022) Full year 2023 results: EPS: JP¥61.05 (down from JP¥135 in FY 2022). Revenue: JP¥9.45b (up 64% from FY 2022). Net income: JP¥307.0m (down 55% from FY 2022). Profit margin: 3.2% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • May 19
Estore Corporation, Annual General Meeting, Jun 29, 2023 Estore Corporation, Annual General Meeting, Jun 29, 2023. Buying Opportunity • May 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be JP¥1,505, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has grown by 3.2%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: JP¥26.05 (vs JP¥38.18 in 3Q 2022) Third quarter 2023 results: EPS: JP¥26.05 (down from JP¥38.18 in 3Q 2022). Revenue: JP¥3.84b (up 158% from 3Q 2022). Net income: JP¥131.0m (down 32% from 3Q 2022). Profit margin: 3.4% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. 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 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 24
Estore Corporation to Report Q3, 2023 Results on Feb 14, 2023 Estore Corporation announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥10.94 (vs JP¥38.80 in 2Q 2022) Second quarter 2023 results: EPS: JP¥10.94 (down from JP¥38.80 in 2Q 2022). Revenue: JP¥1.49b (up 1.1% from 2Q 2022). Net income: JP¥55.0m (down 72% from 2Q 2022). Profit margin: 3.7% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Buying Opportunity • Nov 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.2%. The fair value is estimated to be JP¥1,653, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 11%. Announcement • Sep 22
Estore Corporation to Report Q2, 2023 Results on Nov 14, 2022 Estore Corporation announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥7.36 (vs JP¥30.43 in 1Q 2022) First quarter 2023 results: EPS: JP¥7.36 (down from JP¥30.43 in 1Q 2022). Revenue: JP¥1.36b (flat on 1Q 2022). Net income: JP¥37.0m (down 76% from 1Q 2022). Profit margin: 2.7% (down from 11% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Announcement • Jun 29
Estore Corporation to Report Q1, 2023 Results on Aug 10, 2022 Estore Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥135 (vs JP¥100 in FY 2021) Full year 2022 results: EPS: JP¥135 (up from JP¥100 in FY 2021). Revenue: JP¥5.75b (down 45% from FY 2021). Net income: JP¥677.0m (up 41% from FY 2021). Profit margin: 12% (up from 4.6% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Announcement • May 15
Estore Corporation, Annual General Meeting, Jun 29, 2022 Estore Corporation, Annual General Meeting, Jun 29, 2022. Announcement • Apr 08
Estore Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Estore Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 20
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥38.18 (down from JP¥55.30 in 3Q 2021). Revenue: JP¥1.49b (down 47% from 3Q 2021). Net income: JP¥192.0m (down 27% from 3Q 2021). Profit margin: 13% (up from 9.5% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥38.80 (vs JP¥47.13 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2022 results: Revenue: JP¥1.47b (down 42% from 2Q 2021). Net income: JP¥195.0m (down 13% from 2Q 2021). Profit margin: 13% (up from 8.8% in 2Q 2021). The increase in margin was driven by lower expenses. Announcement • May 19
Estore Corporation (JASDAQ:4304) announces an Equity Buyback for 240,000 shares, representing 4.79% for ¥600 million. Estore Corporation (JASDAQ:4304) announces a share repurchase program. Under the program, the company will repurchase 240,000 shares, representing 4.78% of the outstanding shares for a total cost of ¥600 million. The purpose of the program is to enhance capital efficiency,to acquire treasury stock as part of agile capital measures. As of March 31, 2021, the company had 5,011,264 shares outstanding and 387,703 shares in treasury. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥100 (vs JP¥76.88 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: JP¥10.5b (up 117% from FY 2020). Net income: JP¥482.0m (up 31% from FY 2020). Profit margin: 4.6% (down from 7.6% in FY 2020). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥1,777, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 25x in the IT industry in Japan. Total returns to shareholders of 107% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥29.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 40% share price gain to JP¥3,190, the stock is trading at a trailing P/E ratio of 24.3x, up from the previous P/E ratio of 17.3x. This compares to an average P/E of 28x in the IT industry in Japan. Total returns to shareholders over the past three years are 244%. Is New 90 Day High Low • Feb 15
New 90-day high: JP¥2,859 The company is up 46% from its price of JP¥1,956 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 9.0% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: EPS JP¥55.30 (vs JP¥21.79 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥2.78b (up 121% from 3Q 2020). Net income: JP¥264.0m (up 154% from 3Q 2020). Profit margin: 9.5% (up from 8.3% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥2,550, the stock is trading at a trailing P/E ratio of 26.1x, up from the previous P/E ratio of 22x. This compares to an average P/E of 29x in the IT industry in Japan. Total returns to shareholders over the past three years are 234%. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥2,197, the stock is trading at a trailing P/E ratio of 22.5x, down from the previous P/E ratio of 28.3x. This compares to an average P/E of 29x in the IT industry in Japan. Total returns to shareholders over the past three years are 195%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 18% share price gain to JP¥2,314, the stock is trading at a trailing P/E ratio of 23.7x, up from the previous P/E ratio of 20.1x. This compares to an average P/E of 29x in the IT industry in Japan. Total returns to shareholders over the past three years are 193%. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 22% share price gain to JP¥1,960, the stock is trading at a trailing P/E ratio of 20.1x, up from the previous P/E ratio of 16.5x. This compares to an average P/E of 28x in the IT industry in Japan. Total returns to shareholders over the past three years are 155%. Reported Earnings • Nov 14
Second quarter 2021 earnings released: EPS JP¥47.13 The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥2.55b (up 113% from 2Q 2020). Net income: JP¥225.0m (up 83% from 2Q 2020). Profit margin: 8.8% (down from 10% in 2Q 2020). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Nov 13
New 90-day high: JP¥1,610 The company is up 36% from its price of JP¥1,182 on 14 August 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 6.0% over the same period. Announcement • Jun 29
Estore Corporation to Report Q1, 2021 Results on Aug 12, 2020 Estore Corporation announced that they will report Q1, 2021 results on Aug 12, 2020