Announcement • Jun 25
Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 26, 2026 Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 26, 2026, at 10:00 Tokyo Standard Time. Location: 2-22-1 inaho, otaru city, otaru economic center building 7th floor, main hall, otaru Japan New Risk • May 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.8b (US$99.5m) 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. This is currently the only risk that has been identified for the company. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 1 independent director (9 non-independent directors). Independent Outside Director Shuntaro Sugie was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 10
Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 25, 2025 Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 25, 2025, at 10:00 Tokyo Standard Time. Location: 2-22-1 inaho,otaru economic center building, 7th floor, main hall, otaru Japan Buy Or Sell Opportunity • May 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to JP¥4,150. The fair value is estimated to be JP¥3,450, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Meanwhile, the company has become profitable. Board Change • May 01
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. 6 experienced directors. 6 highly experienced directors. 1 independent director (10 non-independent directors). Independent Outside Director Shuntaro Sugie was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 01
Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces an Equity Buyback for 30,000 shares, representing 1.04% for ¥120 million. Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces a share repurchase program. Under the program, the company will repurchase up to 30,000 shares, representing 1.04% of its issued share capital, for ¥120 million. The purpose of the program is to implement a flexible capital policy. The program will expire on November 13, 2025. As of April 28, 2024, the company had 2,897,602 shares in issue (excluding treasury stock) and 248,398 shares in treasury. Announcement • Nov 13
Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces an Equity Buyback for 30,000 shares, representing 1.04% for ¥100 million. Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces a share repurchase program. Under the program, the company will repurchase up to 30,000 shares, representing 1.04% of its issued share capital, for ¥100 million. The program is aimed at implementing a flexible capital policy. The program will expire on April 30, 2025. As of November 12, 2024, the company had 2,897,804 shares in issue (excluding treasury stock) and 248,196 shares in treasury. Reported Earnings • Aug 15
First quarter 2025 earnings released: JP¥175 loss per share (vs JP¥196 loss in 1Q 2024) First quarter 2025 results: JP¥175 loss per share (improved from JP¥196 loss in 1Q 2024). Revenue: JP¥7.04b (down 5.9% from 1Q 2024). Net loss: JP¥459.0m (loss narrowed 11% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 20
Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 25, 2024 Hokkaido Chuo Bus Co., Ltd., Annual General Meeting, Jun 25, 2024, at 10:00 Tokyo Standard Time. Location: 2-22-1 inaho, otaru economic center building, otaru Japan Reported Earnings • May 21
Full year 2024 earnings released: EPS: JP¥360 (vs JP¥224 in FY 2023) Full year 2024 results: EPS: JP¥360 (up from JP¥224 in FY 2023). Revenue: JP¥33.8b (up 1.2% from FY 2023). Net income: JP¥941.0m (up 61% from FY 2023). Profit margin: 2.8% (up from 1.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • May 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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 2.6% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (JP¥9.51b market cap, or US$62.2m). Announcement • Apr 30
Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces an Equity Buyback for 30,000 shares, representing 1.04% for ¥0.1 million. Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces a share repurchase program. Under the program, the company will repurchase 30,000 shares, representing 1.04% of its share capital, for ¥0.1 million. The company will repurchase its shares in order to implement a flexible capital policy. The program will run until November 13, 2024. As of April 26, 2024, the company had 2,897,897 shares issued (excluding treasury shares) and 248,103 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.2%). Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: JP¥130 (vs JP¥245 in 3Q 2023) Third quarter 2024 results: EPS: JP¥130 (down from JP¥245 in 3Q 2023). Revenue: JP¥8.77b (down 9.9% from 3Q 2023). Net income: JP¥340.0m (down 47% from 3Q 2023). Profit margin: 3.9% (down from 6.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Second quarter 2024 earnings released: JP¥14.52 loss per share (vs JP¥25.22 loss in 2Q 2023) Second quarter 2024 results: JP¥14.52 loss per share (improved from JP¥25.22 loss in 2Q 2023). Revenue: JP¥7.92b (flat on 2Q 2023). Net loss: JP¥38.0m (loss narrowed 42% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 10
First quarter 2024 earnings released: JP¥196 loss per share (vs JP¥330 loss in 1Q 2023) First quarter 2024 results: JP¥196 loss per share (improved from JP¥330 loss in 1Q 2023). Revenue: JP¥7.48b (up 19% from 1Q 2023). Net loss: JP¥514.0m (loss narrowed 40% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥224 (vs JP¥776 loss in FY 2022) Full year 2023 results: EPS: JP¥224 (up from JP¥776 loss in FY 2022). Revenue: JP¥33.4b (up 20% from FY 2022). Net income: JP¥586.0m (up JP¥2.62b from FY 2022). Profit margin: 1.8% (up from net loss in FY 2022). 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 3% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: JP¥245 (vs JP¥243 in 3Q 2022) Third quarter 2023 results: EPS: JP¥245 (up from JP¥243 in 3Q 2022). Revenue: JP¥9.73b (up 17% from 3Q 2022). Net income: JP¥640.0m (flat on 3Q 2022). Profit margin: 6.6% (down from 7.6% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: JP¥25.22 loss per share (vs JP¥210 loss in 2Q 2022) Second quarter 2023 results: JP¥25.22 loss per share (improved from JP¥210 loss in 2Q 2022). Revenue: JP¥7.95b (up 19% from 2Q 2022). Net loss: JP¥66.0m (loss narrowed 88% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Nov 12
Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces an Equity Buyback for 30,000 shares, representing 1.04% for ¥110 million. Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces a share repurchase program. Under the program, the company will repurchase 30,000 shares, representing 1.04% of its share capital, for ¥110 million. The company will repurchase its shares in order to carry out agile capital policy. The program will run until April 28, 2023. As of November 10, 2022, the company had 2,898,076 shares issued (excluding treasury shares) and 247,924 shares in treasury. Reported Earnings • Aug 12
First quarter 2023 earnings released: JP¥330 loss per share (vs JP¥497 loss in 1Q 2022) First quarter 2023 results: JP¥330 loss per share (up from JP¥497 loss in 1Q 2022). Revenue: JP¥6.29b (up 19% from 1Q 2022). Net loss: JP¥863.0m (loss narrowed 34% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
Full year 2022 earnings released: JP¥776 loss per share (vs JP¥859 loss in FY 2021) Full year 2022 results: JP¥776 loss per share (up from JP¥859 loss in FY 2021). Revenue: JP¥27.8b (down 2.8% from FY 2021). Net loss: JP¥2.03b (loss narrowed 9.7% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Board Change • Apr 29
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. 3 experienced directors. 9 highly experienced directors. No independent directors (12 non-independent directors). Managing Executive Officer and Director Toshihiko Izumiyama was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 23
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. 3 experienced directors. 9 highly experienced directors. No independent directors (12 non-independent directors). Managing Executive Officer and Director Toshihiko Izumiyama was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥243 (up from JP¥9.17 loss in 3Q 2021). Revenue: JP¥8.32b (down 8.5% from 3Q 2021). Net income: JP¥636.0m (up JP¥660.0m from 3Q 2021). Profit margin: 7.6% (up from net loss in 3Q 2021). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Second quarter 2022 earnings released: JP¥210 loss per share (vs JP¥12.61 loss in 2Q 2021) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2022 results: Revenue: JP¥6.66b (down 6.0% from 2Q 2021). Net loss: JP¥550.0m (loss widened JP¥517.0m from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
Full year 2021 earnings released: JP¥859 loss per share (vs JP¥84.05 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥28.6b (down 25% from FY 2020). Net loss: JP¥2.25b (down JP¥2.47b from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Apr 29
Hokkaido Chuo Bus Co., Ltd. (SPSE:9085) announces an Equity Buyback for 30,000 shares, representing 1.03% for ¥150 million. Hokkaido Chuo Bus Co., Ltd. announces a share repurchase program. Under the program, the company will repurchase 30,000 shares, representing 1.03% of its share capital, for ¥150 million. The company will repurchase its shares in order to implement a flexible capital policy. The program will run until November 12, 2021. As of April 27, 2021, the company had 2,898,689 shares outstanding (excluding treasury shares) and 247,311 shares in treasury. Is New 90 Day High Low • Mar 06
New 90-day low: JP¥3,430 The company is down 6.0% from its price of JP¥3,630 on 03 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Transportation industry, which is up 8.0% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: JP¥9.17 loss per share (vs JP¥209 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: JP¥9.09b (down 12% from 3Q 2020). Net loss: JP¥24.0m (down 104% from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 18
New 90-day low: JP¥3,580 The company is down 3.0% from its price of JP¥3,700 on 21 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Transportation industry, which is up 7.0% over the same period. Reported Earnings • Nov 21
Second quarter 2021 earnings released: JP¥12.61 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥7.08b (down 27% from 2Q 2020). Net loss: JP¥33.0m (down 120% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Second quarter 2021 earnings released: JP¥12.61 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥7.08b (down 27% from 2Q 2020). Net loss: JP¥33.0m (down 120% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. 
