Announcement • Jun 05
Kyushu Railway Company to Report Q1, 2027 Results on Aug 04, 2026 Kyushu Railway Company announced that they will report Q1, 2027 results on Aug 04, 2026 Reported Earnings • May 12
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥295 (up from JP¥279 in FY 2025). Revenue: JP¥500.4b (up 10% from FY 2025). Net income: JP¥45.5b (up 4.1% from FY 2025). Profit margin: 9.1% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • May 11
Kyushu Railway Company, Annual General Meeting, Jun 23, 2026 Kyushu Railway Company, Annual General Meeting, Jun 23, 2026. Announcement • Mar 26
Kyushu Railway Company to Report Fiscal Year 2026 Results on May 11, 2026 Kyushu Railway Company announced that they will report fiscal year 2026 results on May 11, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥57.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 11
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥120 (up from JP¥94.50 in 3Q 2025). Revenue: JP¥122.4b (up 7.9% from 3Q 2025). Net income: JP¥18.5b (up 25% from 3Q 2025). Profit margin: 15% (up from 13% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Announcement • Dec 06
Kyushu Railway Company to Report Q3, 2026 Results on Feb 10, 2026 Kyushu Railway Company announced that they will report Q3, 2026 results on Feb 10, 2026 Declared Dividend • Dec 04
First half dividend of JP¥57.50 announced Shareholders will receive a dividend of JP¥57.50. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (39% 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 13% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Nov 07
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: JP¥38.63 (down from JP¥71.70 in 2Q 2025). Revenue: JP¥120.1b (up 15% from 2Q 2025). Net income: JP¥5.94b (down 47% from 2Q 2025). Profit margin: 4.9% (down from 11% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 61%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Transportation industry in Japan. 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 12% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥57.50 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 04 December 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Announcement • Aug 27
Kyushu Railway Company to Report Q2, 2026 Results on Nov 05, 2025 Kyushu Railway Company announced that they will report Q2, 2026 results on Nov 05, 2025 New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.0% 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 Risk Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. Minor Risks High level of debt (85% net debt to equity). Paying a dividend despite having no free cash flows. Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥106 (up from JP¥72.68 in 1Q 2025). Revenue: JP¥117.5b (up 13% from 1Q 2025). Net income: JP¥16.4b (up 44% from 1Q 2025). Profit margin: 14% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥57.50 announced Shareholders will receive a dividend of JP¥57.50. Ex-date: 29th September 2025 Payment date: 4th December 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (62% 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 13% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 4.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 21
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥279 (up from JP¥245 in FY 2024). Revenue: JP¥454.4b (up 8.1% from FY 2024). Net income: JP¥43.7b (up 14% from FY 2024). Profit margin: 9.6% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Transportation 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 11% per year, which means it is significantly lagging earnings growth. Announcement • Jun 04
Kyushu Railway Company to Report Q1, 2026 Results on Aug 05, 2025 Kyushu Railway Company announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥279 (up from JP¥245 in FY 2024). Revenue: JP¥454.4b (up 8.1% from FY 2024). Net income: JP¥43.7b (up 14% from FY 2024). Profit margin: 9.6% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Transportation 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 14% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Kyushu Railway Company, Annual General Meeting, Jun 20, 2025 Kyushu Railway Company, Annual General Meeting, Jun 20, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Mar 12
Kyushu Railway Company to Report Fiscal Year 2025 Results on May 09, 2025 Kyushu Railway Company announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Feb 05
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥94.50 (up from JP¥81.06 in 3Q 2024). Revenue: JP¥113.5b (up 11% from 3Q 2024). Net income: JP¥14.8b (up 16% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Dec 05
Kyushu Railway Company to Report Q3, 2025 Results on Feb 04, 2025 Kyushu Railway Company announced that they will report Q3, 2025 results on Feb 04, 2025 Declared Dividend • Dec 05
First half dividend of JP¥46.50 announced Shareholders will receive a dividend of JP¥46.50. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 2.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (66% 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 12% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: JP¥71.70 (up from JP¥64.96 in 2Q 2024). Revenue: JP¥104.3b (up 12% from 2Q 2024). Net income: JP¥11.2b (up 10.0% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Kyushu Railway Company to Report Q2, 2025 Results on Nov 06, 2024 Kyushu Railway Company announced that they will report Q2, 2025 results on Nov 06, 2024 New Risk • Aug 08
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: 7.5% Last year net profit margin: 11% 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: Minor Risks High level of debt (75% net debt to equity). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.5% net profit margin). Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥72.68 (vs JP¥113 in 1Q 2024) First quarter 2025 results: EPS: JP¥72.68 (down from JP¥113 in 1Q 2024). Revenue: JP¥104.1b (up 6.4% from 1Q 2024). Net income: JP¥11.4b (down 36% from 1Q 2024). Profit margin: 11% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 21
Price target increased by 7.4% to JP¥4,036 Up from JP¥3,758, the current price target is an average from 7 analysts. New target price is 9.6% above last closing price of JP¥3,681. Stock is up 20% over the past year. The company is forecast to post earnings per share of JP¥280 for next year compared to JP¥245 last year. Reported Earnings • Jun 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥245 (up from JP¥198 in FY 2023). Revenue: JP¥420.4b (up 9.7% from FY 2023). Net income: JP¥38.4b (up 23% from FY 2023). Profit margin: 9.1% (up from 8.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.2%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jun 15
Kyushu Railway Company to Report Q1, 2025 Results on Aug 06, 2024 Kyushu Railway Company announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • May 11
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥245 (up from JP¥198 in FY 2023). Revenue: JP¥420.4b (up 9.7% from FY 2023). Net income: JP¥38.4b (up 23% from FY 2023). Profit margin: 9.1% (up from 8.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.2%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 11
Kyushu Railway Company, Annual General Meeting, Jun 21, 2024 Kyushu Railway Company, Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥93.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.2%). Announcement • Mar 08
Kyushu Railway Company to Report Fiscal Year 2024 Results on May 09, 2024 Kyushu Railway Company announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥81.06 (vs JP¥60.66 in 3Q 2023) Third quarter 2024 results: EPS: JP¥81.06 (up from JP¥60.66 in 3Q 2023). Revenue: JP¥102.2b (up 12% from 3Q 2023). Net income: JP¥12.7b (up 34% from 3Q 2023). Profit margin: 13% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Dec 20
Kyushu Railway Company to Report Q3, 2024 Results on Feb 06, 2024 Kyushu Railway Company announced that they will report Q3, 2024 results on Feb 06, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: JP¥89.07 (up from JP¥32.38 in 2Q 2023). Revenue: JP¥95.4b (up 20% from 2Q 2023). Net income: JP¥14.0b (up 175% from 2Q 2023). Profit margin: 15% (up from 6.4% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 08
Kyushu Railway Company to Report Q2, 2024 Results on Nov 07, 2023 Kyushu Railway Company announced that they will report Q2, 2024 results on Nov 07, 2023 New Risk • Aug 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% 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 Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 09
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥113 (up from JP¥44.01 in 1Q 2023). Revenue: JP¥97.9b (up 8.2% from 1Q 2023). Net income: JP¥17.8b (up 157% from 1Q 2023). Profit margin: 18% (up from 7.6% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 41%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 06
Kyushu Railway Company to Report Q1, 2024 Results on Aug 08, 2023 Kyushu Railway Company announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥198 (up from JP¥84.33 in FY 2022). Revenue: JP¥383.2b (up 16% from FY 2022). Net income: JP¥31.2b (up 135% from FY 2022). Profit margin: 8.1% (up from 4.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 12
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥218 to JP¥241. Revenue forecast steady at JP¥412.3b. Net income forecast to grow 36% next year vs 5.1% growth forecast for Transportation industry in Japan. Consensus price target broadly unchanged at JP¥3,117. Share price rose 2.8% to JP¥3,175 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥93.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Feb 09
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥60.66 (down from JP¥71.53 in 3Q 2022). Revenue: JP¥91.1b (up 12% from 3Q 2022). Net income: JP¥9.53b (down 15% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 7.3%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Announcement • Dec 04
Kyushu Railway Company to Report Q3, 2023 Results on Feb 07, 2023 Kyushu Railway Company announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 03
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥32.38 (up from JP¥18.79 loss in 2Q 2022). Revenue: JP¥79.7b (up 15% from 2Q 2022). Net income: JP¥5.09b (up JP¥8.04b from 2Q 2022). Profit margin: 6.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Transportation industry in Japan. Over the last 3 years on average, earnings per share has fallen by 40% 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. Reported Earnings • Aug 03
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥44.01 (up from JP¥5.90 in 1Q 2022). Revenue: JP¥90.5b (up 26% from 1Q 2022). Net income: JP¥6.92b (up JP¥5.99b from 1Q 2022). Profit margin: 7.6% (up from 1.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 56%. Over the next year, revenue is forecast to grow 12%, compared to a 22% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • May 11
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: JP¥84.33 (up from JP¥121 loss in FY 2021). Revenue: JP¥329.5b (up 12% from FY 2021). Net income: JP¥13.3b (up JP¥32.2b from FY 2021). Profit margin: 4.0% (up from net loss in FY 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 58%. Over the next year, revenue is forecast to grow 17%, compared to a 23% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥93.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 24 June 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Major Estimate Revision • Feb 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥51.72 to JP¥58.92. Revenue forecast steady at JP¥345.1b. Net income forecast to grow 1,090% next year vs 8.0% growth forecast for Transportation industry in Japan. Consensus price target broadly unchanged at JP¥2,771. Share price rose 3.1% to JP¥2,650 over the past week. Major Estimate Revision • Feb 15
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥332.3b to JP¥347.4b. EPS estimate increased from JP¥49.76 to JP¥55.95 per share. Net income forecast to grow 1,085% next year vs 7.2% growth forecast for Transportation industry in Japan. Consensus price target broadly unchanged at JP¥2,764. Share price was steady at JP¥2,583 over the past week. Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥71.53 (up from JP¥9.00 loss in 3Q 2021). Revenue: JP¥81.1b (up 4.2% from 3Q 2021). Net income: JP¥11.2b (up JP¥12.7b from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 193%. Over the next year, revenue is forecast to grow 18%, compared to a 20% growth forecast for the industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 04
Second quarter 2022 earnings released: JP¥18.79 loss per share (vs JP¥32.64 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: JP¥69.5b (up 11% from 2Q 2021). Net loss: JP¥2.95b (loss narrowed 42% from 2Q 2021). 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 • Aug 04
First quarter 2022 earnings released: EPS JP¥5.90 (vs JP¥32.58 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥72.1b (up 17% from 1Q 2021). Net income: JP¥927.0m (up JP¥6.05b from 1Q 2021). Profit margin: 1.3% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 27
Full year 2021 earnings released: JP¥121 loss per share (vs JP¥198 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¥293.9b (down 32% from FY 2020). Net loss: JP¥19.0b (down 160% 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 58 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 25
Independent Outside Director Masayoshi Nuki has left the company On the 23rd of June, Masayoshi Nuki's tenure as Independent Outside Director ended after 8.1 years in the role. We don't have any record of a personal shareholding under Masayoshi's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.00 years. Executive Departure • Jun 25
Independent Outside Director Kazuhide Ide has left the company On the 23rd of June, Kazuhide Ide's tenure as Independent Outside Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Kazuhide's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.00 years. Reported Earnings • May 15
Full year 2021 earnings released: JP¥121 loss per share (vs JP¥198 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¥293.9b (down 32% from FY 2020). Net loss: JP¥19.0b (down 160% 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 57 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥93.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%).