New Risk • May 01
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: 3.2% 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 Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 29
Full year 2026 earnings released: EPS: JP¥196 (vs JP¥172 in FY 2025) Full year 2026 results: EPS: JP¥196 (up from JP¥172 in FY 2025). Revenue: JP¥261.8b (up 2.9% from FY 2025). Net income: JP¥7.15b (up 12% from FY 2025). Profit margin: 2.7% (up from 2.5% in FY 2025). The increase in margin was driven by higher revenue. 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 8% per year, which means it is well ahead of earnings. Announcement • Apr 29
Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 24, 2026 Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 24, 2026. Announcement • Apr 21
Saibu Gas Holdings Co.,Ltd. to Report Fiscal Year 2026 Results on Apr 28, 2026 Saibu Gas Holdings Co.,Ltd. announced that they will report fiscal year 2026 results on Apr 28, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥63.20 (vs JP¥34.34 in 3Q 2025) Third quarter 2026 results: EPS: JP¥63.20 (up from JP¥34.34 in 3Q 2025). Revenue: JP¥61.5b (down 3.0% from 3Q 2025). Net income: JP¥2.29b (up 80% from 3Q 2025). Profit margin: 3.7% (up from 2.0% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,255, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 12x in the Gas Utilities industry in Japan. Total returns to shareholders of 48% over the past three years. Announcement • Dec 03
Saibu Gas Holdings Co.,Ltd. to Report Q3, 2026 Results on Jan 29, 2026 Saibu Gas Holdings Co.,Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Dec 02
First half dividend of JP¥35.00 announced Dividend of JP¥35.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥4.49 (vs JP¥21.17 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥4.49 (up from JP¥21.17 loss in 2Q 2025). Revenue: JP¥61.0b (up 14% from 2Q 2025). Net income: JP¥164.0m (up JP¥948.0m from 2Q 2025). Profit margin: 0.3% (up from net loss in 2Q 2025). The move to profitability 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 increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Announcement • Sep 19
Saibu Gas Holdings Co.,Ltd. to Report Q2, 2026 Results on Oct 30, 2025 Saibu Gas Holdings Co.,Ltd. announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥95.75 (vs JP¥51.29 in 1Q 2025) First quarter 2026 results: EPS: JP¥95.75 (up from JP¥51.29 in 1Q 2025). Revenue: JP¥67.5b (up 15% from 1Q 2025). Net income: JP¥3.53b (up 86% from 1Q 2025). Profit margin: 5.2% (up from 3.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥35.00 announced Dividend of JP¥35.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 6.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥172 (vs JP¥166 in FY 2024) Full year 2025 results: EPS: JP¥172 (up from JP¥166 in FY 2024). Revenue: JP¥254.4b (flat on FY 2024). Net income: JP¥6.36b (up 3.4% from FY 2024). Profit margin: 2.5% (up from 2.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 24
Saibu Gas Holdings Co.,Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Saibu Gas Holdings Co.,Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 01
Full year 2025 earnings released: EPS: JP¥172 (vs JP¥166 in FY 2024) Full year 2025 results: EPS: JP¥172 (up from JP¥166 in FY 2024). Revenue: JP¥254.4b (flat on FY 2024). Net income: JP¥6.36b (up 3.4% from FY 2024). Profit margin: 2.5% (up from 2.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 01
Saibu Gas Holdings Co.,Ltd. (TSE:9536) announces an Equity Buyback for 1,500,000 shares, representing 4.03% for ¥2,000 million. Saibu Gas Holdings Co.,Ltd. (TSE:9536) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 4.03% of its issued share capital, for ¥2,000 million. This buyback is aimed at providing shareholder returns based on a shareholder return policy. The program will expire on March 31, 2026. As of March 31, 2025, the company had 37,187,567 shares in issue and 85,515 shares in treasury. Announcement • Apr 30
Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 25, 2025 Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.2%). Announcement • Mar 19
Saibu Gas Holdings Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2025 Saibu Gas Holdings Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥34.34 (vs JP¥7.08 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥34.34 (up from JP¥7.08 loss in 3Q 2024). Revenue: JP¥63.4b (up 4.9% from 3Q 2024). Net income: JP¥1.27b (up JP¥1.53b from 3Q 2024). Profit margin: 2.0% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Dec 19
Saibu Gas Holdings Co.,Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Saibu Gas Holdings Co.,Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: JP¥21.17 loss per share (vs JP¥10.64 loss in 2Q 2024) Second quarter 2025 results: JP¥21.17 loss per share (further deteriorated from JP¥10.64 loss in 2Q 2024). Revenue: JP¥53.7b (down 9.7% from 2Q 2024). Net loss: JP¥784.0m (loss widened 99% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Sep 21
Saibu Gas Holdings Co.,Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Saibu Gas Holdings Co.,Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.5%). Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥51.29 (vs JP¥70.49 in 1Q 2024) First quarter 2025 results: EPS: JP¥51.29 (down from JP¥70.49 in 1Q 2024). Revenue: JP¥58.6b (down 5.0% from 1Q 2024). Net income: JP¥1.90b (down 27% from 1Q 2024). Profit margin: 3.2% (down from 4.2% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 22
Saibu Gas Holdings Co.,Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Saibu Gas Holdings Co.,Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥166 (vs JP¥357 in FY 2023) Full year 2024 results: EPS: JP¥166 (down from JP¥357 in FY 2023). Revenue: JP¥256.3b (down 3.8% from FY 2023). Net income: JP¥6.16b (down 53% from FY 2023). Profit margin: 2.4% (down from 5.0% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Apr 29
Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 26, 2024 Saibu Gas Holdings Co.,Ltd., Annual General Meeting, Jun 26, 2024. Buy Or Sell Opportunity • Apr 27
Now 20% undervalued Over the last 90 days, the stock has risen 1.8% to JP¥1,952. The fair value is estimated to be JP¥2,446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 67%. Buy Or Sell Opportunity • Apr 17
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,939. The fair value is estimated to be JP¥2,471, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 67%. Announcement • Mar 23
Saibu Gas Holdings Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2024 Saibu Gas Holdings Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Mar 21
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,925. The fair value is estimated to be JP¥2,411, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 67%. Buy Or Sell Opportunity • Mar 04
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,877. The fair value is estimated to be JP¥2,353, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 67%. Buy Or Sell Opportunity • Feb 14
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,857. The fair value is estimated to be JP¥2,340, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 67%. Reported Earnings • Feb 02
Third quarter 2024 earnings released: JP¥7.08 loss per share (vs JP¥16.96 profit in 3Q 2023) Third quarter 2024 results: JP¥7.08 loss per share (down from JP¥16.96 profit in 3Q 2023). Revenue: JP¥60.4b (down 7.8% from 3Q 2023). Net loss: JP¥262.0m (down 142% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. New Risk • Feb 02
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: 2.7% Last year net profit margin: 4.2% 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: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Profit margins are more than 30% lower than last year (2.7% net profit margin). Announcement • Dec 22
Saibu Gas Holdings Co.,Ltd. to Report Q3, 2024 Results on Jan 30, 2024 Saibu Gas Holdings Co.,Ltd. announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: JP¥10.64 loss per share (vs JP¥146 profit in 2Q 2023) Second quarter 2024 results: JP¥10.64 loss per share (down from JP¥146 profit in 2Q 2023). Revenue: JP¥59.5b (up 3.8% from 2Q 2023). Net loss: JP¥394.0m (down 107% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Sep 22
Saibu Gas Holdings Co.,Ltd. to Report Q2, 2024 Results on Oct 30, 2023 Saibu Gas Holdings Co.,Ltd. announced that they will report Q2, 2024 results on Oct 30, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥35.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 18% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.2%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥70.49 (vs JP¥48.59 in 1Q 2023) First quarter 2024 results: EPS: JP¥70.49 (up from JP¥48.59 in 1Q 2023). Revenue: JP¥61.6b (up 12% from 1Q 2023). Net income: JP¥2.61b (up 45% from 1Q 2023). Profit margin: 4.2% (up from 3.3% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 26
Saibu Gas Holdings Co.,Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Saibu Gas Holdings Co.,Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥357 (vs JP¥13.37 in FY 2022) Full year 2023 results: EPS: JP¥357 (up from JP¥13.37 in FY 2022). Revenue: JP¥266.3b (up 24% from FY 2022). Net income: JP¥13.2b (up JP¥12.7b from FY 2022). Profit margin: 5.0% (up from 0.2% in FY 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.7%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥16.96 (vs JP¥60.71 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥16.96 (up from JP¥60.71 loss in 3Q 2022). Revenue: JP¥65.5b (up 27% from 3Q 2022). Net income: JP¥628.0m (up JP¥2.88b from 3Q 2022). Profit margin: 1.0% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Dec 28
Saibu Gas Holdings Co.,Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Saibu Gas Holdings Co.,Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: JP¥146 (vs JP¥35.03 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥146 (up from JP¥35.03 loss in 2Q 2022). Revenue: JP¥57.3b (up 35% from 2Q 2022). Net income: JP¥5.39b (up JP¥6.69b from 2Q 2022). Profit margin: 9.4% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥146 (vs JP¥35.03 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥146 (up from JP¥35.03 loss in 2Q 2022). Revenue: JP¥57.3b (up 35% from 2Q 2022). Net income: JP¥5.39b (up JP¥6.69b from 2Q 2022). Profit margin: 9.4% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥48.59 (vs JP¥40.00 in 1Q 2022) First quarter 2023 results: EPS: JP¥48.59 (up from JP¥40.00 in 1Q 2022). Revenue: JP¥55.3b (up 10% from 1Q 2022). Net income: JP¥1.80b (up 22% from 1Q 2022). Profit margin: 3.3% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥13.37 (vs JP¥48.46 in FY 2021) Full year 2022 results: EPS: JP¥13.37 (down from JP¥48.46 in FY 2021). Revenue: JP¥215.3b (up 12% from FY 2021). Net income: JP¥495.0m (down 72% from FY 2021). Profit margin: 0.2% (down from 0.9% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 12 non-independent directors. Managing Executive Officer & Director Kenji Takayama was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.8%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: JP¥60.71 loss per share (down from JP¥23.36 loss in 3Q 2021). Revenue: JP¥51.6b (up 15% from 3Q 2021). Net loss: JP¥2.25b (loss widened 160% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 01
Second quarter 2022 earnings released: JP¥35.03 loss per share (vs JP¥11.18 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¥42.4b (down 4.7% from 2Q 2021). Net loss: JP¥1.30b (loss widened 213% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.3%). Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS JP¥40.00 (vs JP¥24.17 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥50.1b (up 15% from 1Q 2021). Net income: JP¥1.48b (up 66% from 1Q 2021). Profit margin: 3.0% (up from 2.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS JP¥48.45 (vs JP¥127 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥192.0b (down 6.1% from FY 2020). Net income: JP¥1.79b (down 62% from FY 2020). Profit margin: 0.9% (down from 2.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (2.0%). Reported Earnings • Jan 30
Third quarter 2021 earnings released: JP¥23.36 loss per share (vs JP¥0.92 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: JP¥44.9b (down 3.4% from 3Q 2020). Net loss: JP¥865.0m (loss widened JP¥831.0m from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 01
New 90-day high: JP¥3,555 The company is up 45% from its price of JP¥2,458 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 9.0% over the same period.