Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Maoko Kotani was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 09
Open House Group Co., Ltd. to Report Q2, 2026 Results on May 11, 2026 Open House Group Co., Ltd. announced that they will report Q2, 2026 results at 9:00 AM, Tokyo Standard Time on May 11, 2026 Tillkännagivande • Dec 23
Open House Group Co., Ltd. to Report Q1, 2026 Results on Feb 10, 2026 Open House Group Co., Ltd. announced that they will report Q1, 2026 results on Feb 10, 2026 Tillkännagivande • Sep 17
Open House Group Co., Ltd. to Report Fiscal Year 2025 Results on Nov 14, 2025 Open House Group Co., Ltd. announced that they will report fiscal year 2025 results on Nov 14, 2025 Tillkännagivande • Jun 13
Open House Group Co., Ltd. to Report Q3, 2025 Results on Aug 13, 2025 Open House Group Co., Ltd. announced that they will report Q3, 2025 results on Aug 13, 2025 Tillkännagivande • Mar 27
Open House Group Co., Ltd. to Report Q2, 2025 Results on May 14, 2025 Open House Group Co., Ltd. announced that they will report Q2, 2025 results on May 14, 2025 Tillkännagivande • Feb 28
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 31.32% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥51.9 billion. Open House Group Co., Ltd. (TSE:3288) proposed to acquire remaining 36.58% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥60.7 billion on January 10, 2025. A cash consideration of ¥60.68 billion valued at ¥2390 per share will be paid by Open House Group Co., Ltd. As part of consideration, ¥60.68 billion is paid towards common equity of Pressance Corporation. The transaction will be financed through senior debt of ¥60.7 billion from from Sumitomo Mitsui Banking Corp.
Tender Offeror will implement the Squeeze-Out Procedure with the aim of making the Tender Offeror the only shareholder of the Pressance Corporation. Tender offer will commence on January 14, 2025 and will end on February 26, 2025. The settlement of the offer will take place on March 5, 2025. The transaction is subject to approval of merger agreement by board of directors of Pressance Corporation, consummation of due diligence investigation and minimum tender. The Board of Directors of Pressance Corporation formed a special committee for the transaction. The deal has been unanimously approved by the board of directors of Pressance Corporation. The expected completion of the transaction is February 26, 2025.
SMBC Nikko Securities Inc. acted as financial advisor for Open House Group Co., Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor for Open House Group Co., Ltd. Mizuho Securities Co., Ltd. acted as financial advisor for Pressance Corporation. Mizuho Securities Co., Ltd. acted as fairness opinion provider for Pressance Corporation. Anderson Mori & Tomotsune LPC acted as legal advisor for Pressance Corporation.
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 31.32% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥51.9 billion on February 26, 2025. Tillkännagivande • Jan 11
Open House Group Co., Ltd. (TSE:3288) proposed to acquire remaining 36.58% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥60.7 billion. Open House Group Co., Ltd. (TSE:3288) proposed to acquire remaining 36.58% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥60.7 billion on January 10, 2025. A cash consideration of ¥60.68 billion valued at ¥2390 per share will be paid by Open House Group Co., Ltd. As part of consideration, ¥60.68 billion is paid towards common equity of Pressance Corporation. The transaction will be financed through senior debt of ¥60.68 billion from from Sumitomo Mitsui Banking Corp.
Tender Offeror will implement the Squeeze-Out Procedure with the aim of making the Tender Offeror the only shareholder of the Target Company. The transaction is subject to approval of merger agreement by target board, consummation of due diligence investigation and minimum tender. The Board of Directors of Pressance Corporation formed a special committee for the transaction. The deal has been unanimously approved by the board. The expected completion of the transaction is February 26, 2025.
SMBC Nikko Securities Inc. acted as financial advisor for Open House Group Co., Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor for Open House Group Co., Ltd. Mizuho Securities Co., Ltd. acted as financial advisor for Pressance Corporation. Mizuho Securities Co., Ltd. acted as fairness opinion provider for Pressance Corporation. Anderson Mori & Tomotsune LPC acted as legal advisor for Pressance Corporation. Tillkännagivande • Dec 12
Open House Group Co., Ltd. to Report Q1, 2025 Results on Feb 13, 2025 Open House Group Co., Ltd. announced that they will report Q1, 2025 results on Feb 13, 2025 Reported Earnings • Nov 17
Full year 2024 earnings released: EPS: JP¥783 (vs JP¥764 in FY 2023) Full year 2024 results: EPS: JP¥783 (up from JP¥764 in FY 2023). Revenue: JP¥1.30t (up 13% from FY 2023). Net income: JP¥92.9b (flat on FY 2023). Profit margin: 7.2% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Nov 14
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. 7 experienced directors. 4 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Outside Director Hitoshi Ishimura was the last independent 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: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Oct 06
Open House Group Co., Ltd. to Report Fiscal Year 2024 Results on Nov 14, 2024 Open House Group Co., Ltd. announced that they will report fiscal year 2024 results on Nov 14, 2024 Reported Earnings • Aug 16
Third quarter 2024 earnings released: EPS: JP¥141 (vs JP¥141 in 3Q 2023) Third quarter 2024 results: EPS: JP¥141. Revenue: JP¥292.3b (up 20% from 3Q 2023). Net income: JP¥16.7b (down 1.8% from 3Q 2023). Profit margin: 5.7% (down from 7.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% 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 (4.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Tillkännagivande • Jun 29
Open House Group Co., Ltd. to Report Q3, 2024 Results on Aug 13, 2024 Open House Group Co., Ltd. announced that they will report Q3, 2024 results on Aug 13, 2024 Tillkännagivande • Jun 28
Open House Group Co., Ltd. Announces CEO Changes for Open House Real Estate Investment Advisors Corporation Open House Group Co., Ltd. announced the personnel changes in subsidiary company, Open House Real Estate Investment Advisors Corporation. Based on the resolution of the company's board of directors, the changes has decided that resignation of Koji Sakamoto as President and CEO. And appointment of Tsugumasa Sekiguchi as President and CEO of the company both effective July 1, 2024. Career Summary of Tsugumasa Sekiguchi is as follows: April 1991-Credit Saison Co.,Ltd.; October 1994- Seconded to Atrium Co., Ltd. (transferred on October 15, 1999); May 2005- Director, Atrium Debt Collection Service Co., Ltd.; May 2006- Director, Atrium Co., Ltd. (now Atrium Realty Co., Ltd.); June 2006- Auditor, Atrium Debt Collection Service Co., Ltd.; February 2007 Director, A.I.C. Co.,Ltd; December 2007- Director and Auditor, A.M.Fund Management Co.,Ltd; May 2009- Seconded to Atrium Debt Collection Service Co., Ltd.; August 2010- President and Representative Director, BLUE OCEAN REALTY Co.,Ltd; July 2012- President and Representative Director, OH Real Estate Management Co.,Ltd; April 2015- President and Representative Director, ARK Asset Management Corp.; August 2021- Advisor, Open House Real Estate Co., Ltd. Reported Earnings • May 19
Second quarter 2024 earnings released: EPS: JP¥158 (vs JP¥206 in 2Q 2023) Second quarter 2024 results: EPS: JP¥158 (down from JP¥206 in 2Q 2023). Revenue: JP¥297.9b (up 1.5% from 2Q 2023). Net income: JP¥18.9b (down 24% from 2Q 2023). Profit margin: 6.3% (down from 8.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • May 17
Dividend of JP¥83.00 announced Shareholders will receive a dividend of JP¥83.00. Ex-date: 27th September 2024 Payment date: 23rd December 2024 Dividend yield will be 309%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but not covered by cash flows (184% cash payout ratio). The dividend has increased by an average of 36% 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. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Tillkännagivande • Mar 31
Open House Group Co., Ltd. to Report Q2, 2024 Results on May 15, 2024 Open House Group Co., Ltd. announced that they will report Q2, 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥83.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 18% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.4%). Reported Earnings • Feb 16
First quarter 2024 earnings released: EPS: JP¥274 (vs JP¥163 in 1Q 2023) First quarter 2024 results: EPS: JP¥274 (up from JP¥163 in 1Q 2023). Revenue: JP¥304.8b (up 23% from 1Q 2023). Net income: JP¥33.0b (up 68% from 1Q 2023). Profit margin: 11% (up from 7.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Feb 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (186% cash payout ratio). Share price has been volatile over the past 3 months (7.1% average weekly change). Tillkännagivande • Dec 28
Open House Group Co., Ltd. to Report Q1, 2024 Results on Feb 14, 2024 Open House Group Co., Ltd. announced that they will report Q1, 2024 results on Feb 14, 2024 Tillkännagivande • Dec 20
Open House Group Co., Ltd. Announces Changes in Executive Structure Open House Group Co., Ltd. informed that the following executive structure has been determined by the resolution of the 27th Ordinary General Meeting of Shareholders and the Board of Directors meeting held on December 20, 2023, Ryosuke Fukuoka: Senior Managing Executive Officer, Akira Kuroda: Senior Managing Executive Officer, Shintaro Yoshida: Managing Executive Officer, Kenta Kikuchi: Managing Executive Officer, Rakuto Kuroyanagi: Executive Officer, Kenichiro Kimura: Executive Officer, Tomohiro Kawakami: Executive Officer, Takayuki Koshizuka: Executive Officer, Yasutaka Nomura: Executive Officer. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €24.60, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Consumer Durables industry in Europe. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €12.55 per share. Reported Earnings • Nov 19
Full year 2023 earnings released: EPS: JP¥764 (vs JP¥626 in FY 2022) Full year 2023 results: EPS: JP¥764 (up from JP¥626 in FY 2022). Revenue: JP¥1.15t (up 21% from FY 2022). Net income: JP¥92.1b (up 18% from FY 2022). Profit margin: 8.0% (down from 8.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 17
Open House Group Co., Ltd. (TSE:3288) announces an Equity Buyback for 2,200,000 shares, representing 1.82% for ¥10,000 million. Open House Group Co., Ltd. (TSE:3288) announces a share repurchase program. Under the program, the company will repurchase up to 2,200,000 shares, representing 1.82% of its total shares outstanding excluding treasury shares, for a total of ¥10,000 million. The purpose of repurchase program is to implement flexible capital policy and improve shareholder value. The repurchase program is valid till April 30, 2024. As of November 14, 2023, the company has 120,588,100 shares outstanding excluding treasury shares and has 3,515 shares in treasury. Tillkännagivande • Nov 15
Open House Group Co., Ltd., Annual General Meeting, Dec 20, 2023 Open House Group Co., Ltd., Annual General Meeting, Dec 20, 2023. Tillkännagivande • Sep 27
Open House Group Co., Ltd. to Report Fiscal Year 2023 Results on Nov 14, 2023 Open House Group Co., Ltd. announced that they will report fiscal year 2023 results on Nov 14, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥92.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 1.5% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.1%). Tillkännagivande • Aug 18
Open House Group Co., Ltd. (TSE:3288) made an offer to acquire Sanei Architecture Planning Co.,Ltd. (TSE:3228) for ¥43 billion. Open House Group Co., Ltd. (TSE:3288) made an offer to acquire Sanei Architecture Planning Co.,Ltd. (TSE:3228) from a group of shareholders for ¥43 billion on August 16, 2023. As per the transaction, Open House Group Co., Ltd. will pay ¥2025 per share to the shareholders of Sanei Architecture Planning Co.,Ltd. The transaction is subject to minimum tender. The transaction is expected to close on September 28, 2023. SMBC Nikko Securities Inc. acted as financial advisor to Open House Group Co., Ltd. City-Yuwa Partners acted as legal advisor and fairness opinion provider and Frontier Management Inc. Fairness arm acted as financial advisor to Sanei Architecture Planning Co.,Ltd. Reported Earnings • Aug 15
Third quarter 2023 earnings released: EPS: JP¥141 (vs JP¥134 in 3Q 2022) Third quarter 2023 results: EPS: JP¥141 (up from JP¥134 in 3Q 2022). Revenue: JP¥243.5b (up 15% from 3Q 2022). Net income: JP¥17.0b (up 1.6% from 3Q 2022). Profit margin: 7.0% (down from 7.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. New Risk • Aug 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Tillkännagivande • Jun 26
Open House Group Co., Ltd. to Report Q3, 2023 Results on Aug 14, 2023 Open House Group Co., Ltd. announced that they will report Q3, 2023 results on Aug 14, 2023 Tillkännagivande • May 17
Open House Group Co., Ltd. Provides Special Dividend Guidance for the Year Ending September 30, 2023 Open House Group Co., Ltd. provided special dividend guidance for the year ending September 30, 2023. For the year, the company expects to pay special dividend of JPY 10.00 per share. The special dividend for the fiscal year ending September 30, 2023 (forecast) is due to the commemoration of the 10th anniversary of the company's listing and the achievement of JPY 1 trillion in net sales. Reported Earnings • May 17
Second quarter 2023 earnings released: EPS: JP¥206 (vs JP¥134 in 2Q 2022) Second quarter 2023 results: EPS: JP¥206 (up from JP¥134 in 2Q 2022). Revenue: JP¥293.6b (up 33% from 2Q 2022). Net income: JP¥24.8b (up 47% from 2Q 2022). Profit margin: 8.5% (up from 7.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥72.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.1%). Reported Earnings • Feb 18
First quarter 2023 earnings released: EPS: JP¥163 (vs JP¥180 in 1Q 2022) First quarter 2023 results: EPS: JP¥163 (down from JP¥180 in 1Q 2022). Revenue: JP¥248.2b (up 5.5% from 1Q 2022). Net income: JP¥19.6b (down 13% from 1Q 2022). Profit margin: 7.9% (down from 9.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Dec 27
Full year 2022 earnings released: EPS: JP¥626 (vs JP¥552 in FY 2021) Full year 2022 results: EPS: JP¥626 (up from JP¥552 in FY 2021). Revenue: JP¥952.7b (up 18% from FY 2021). Net income: JP¥77.9b (up 12% from FY 2021). Profit margin: 8.2% (down from 8.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in Germany. Tillkännagivande • Dec 26
Open House Group Co., Ltd. to Report Q1, 2023 Results on Feb 14, 2023 Open House Group Co., Ltd. announced that they will report Q1, 2023 results on Feb 14, 2023 Board Change • Nov 16
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. 5 experienced directors. 4 highly experienced directors. No independent directors (6 non-independent directors). President & Representative Director Kazuhiko Kamata 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. Tillkännagivande • Nov 14
Open House Group Co., Ltd., Annual General Meeting, Dec 21, 2022 Open House Group Co., Ltd., Annual General Meeting, Dec 21, 2022. Agenda: Annual General Meeting. Tillkännagivande • Sep 28
Open House Group Co., Ltd. to Report Fiscal Year 2022 Results on Nov 14, 2022 Open House Group Co., Ltd. announced that they will report fiscal year 2022 results on Nov 14, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥67.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.9%). Tillkännagivande • Sep 16
Open House Group Co., Ltd. Announces Revision to Dividend Forecast for the Financial Year 2022 Ending September 30, 2022 Open House Group Co., Ltd. announced Revision to dividends forecast for financial year 2022 (October 1, 2021 - September 30, 2022) of JPY 67.00 per share compared JPY 62.00 per share forecasted previously. Reported Earnings • Aug 14
Third quarter 2022 earnings released: EPS: JP¥134 (vs JP¥145 in 3Q 2021) Third quarter 2022 results: EPS: JP¥134 (down from JP¥145 in 3Q 2021). Revenue: JP¥211.7b (down 3.7% from 3Q 2021). Net income: JP¥16.7b (down 8.5% from 3Q 2021). Profit margin: 7.9% (down from 8.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 15%, compared to a 3.5% growth forecast for the industry in Germany. Tillkännagivande • Jul 03
Open House Group Co., Ltd. to Report Q3, 2022 Results on Aug 12, 2022 Open House Group Co., Ltd. announced that they will report Q3, 2022 results on Aug 12, 2022 Reported Earnings • May 16
Second quarter 2022 earnings released: EPS: JP¥134 (vs JP¥142 in 2Q 2021) Second quarter 2022 results: EPS: JP¥134 (down from JP¥142 in 2Q 2021). Revenue: JP¥220.2b (up 5.4% from 2Q 2021). Net income: JP¥16.9b (down 5.8% from 2Q 2021). Profit margin: 7.7% (down from 8.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.9%, compared to a 7.1% growth forecast for the industry in Germany. Board Change • Apr 27
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. 5 experienced directors. 4 highly experienced directors. No independent directors (6 non-independent directors). President & Representative Director Kazuhiko Kamata 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. Tillkännagivande • Apr 08
Open House Group Co., Ltd. to Report Q2, 2022 Results on May 13, 2022 Open House Group Co., Ltd. announced that they will report Q2, 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 13 June 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.6%). In line with average of industry peers (2.3%). Reported Earnings • Feb 17
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: JP¥180 (up from JP¥118 in 1Q 2021). Revenue: JP¥235.3b (up 52% from 1Q 2021). Net income: JP¥22.7b (up 53% from 1Q 2021). Profit margin: 9.6% (in line with 1Q 2021). Revenue exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 6.5%, compared to a 7.3% growth forecast for the industry in Germany. Reported Earnings • Dec 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥552 (up from JP¥525 in FY 2020). Revenue: JP¥810.5b (up 41% from FY 2020). Net income: JP¥69.6b (up 17% from FY 2020). Profit margin: 8.6% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 14%, compared to a 4.0% growth forecast for the industry in Germany. Reported Earnings • Nov 14
Full year 2021 earnings released: EPS JP¥552 (vs JP¥525 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¥810.5b (up 41% from FY 2020). Net income: JP¥69.6b (up 17% from FY 2020). Profit margin: 8.6% (down from 10% in FY 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 24 December 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.2%). Reported Earnings • Aug 18
Third quarter 2021 earnings released: EPS JP¥145 (vs JP¥215 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥219.8b (up 81% from 3Q 2020). Net income: JP¥18.3b (down 23% from 3Q 2020). Profit margin: 8.3% (down from 20% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 17
Second quarter 2021 earnings released: EPS JP¥142 (vs JP¥75.46 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥208.8b (up 55% from 2Q 2020). Net income: JP¥17.9b (up 115% from 2Q 2020). Profit margin: 8.6% (up from 6.2% in 2Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 11 June 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (2.2%). Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 38%, compared to a 7.2% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Feb 14
First quarter 2021 earnings released: EPS JP¥118 (vs JP¥88.56 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥155.1b (up 22% from 1Q 2020). Net income: JP¥14.8b (up 52% from 1Q 2020). Profit margin: 9.6% (up from 7.7% in 1Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 03
New 90-day high: €33.80 The company is up 15% from its price of €29.40 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.39 per share. Is New 90 Day High Low • Jan 19
New 90-day high: €33.40 The company is up 12% from its price of €29.80 on 21 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.27 per share. Tillkännagivande • Dec 30
Open House Co., Ltd. to Report Q1, 2021 Results on Feb 12, 2021 Open House Co., Ltd. announced that they will report Q1, 2021 results on Feb 12, 2021 Reported Earnings • Dec 26
Full year 2020 earnings released: EPS JP¥525 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥576.0b (up 6.6% from FY 2019). Net income: JP¥59.5b (up 51% from FY 2019). Profit margin: 10% (up from 7.3% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Dec 26
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 19% compared to a 32% decline forecast for the Real Estate industry in Germany. Reported Earnings • Nov 15
Full year 2020 earnings released: EPS JP¥525 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥576.0b (up 6.6% from FY 2019). Net income: JP¥59.5b (up 51% from FY 2019). Profit margin: 10% (up from 7.3% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 8.3% compared to a 32% decline forecast for the Real Estate industry in Germany. Tillkännagivande • Nov 15
Open House Co., Ltd., Annual General Meeting, Dec 23, 2020 Open House Co., Ltd., Annual General Meeting, Dec 23, 2020. Tillkännagivande • Nov 14
Open House Co., Ltd. (TSE:3288) made an offer to acquire an additional 30.8% stake in Pressance Corporation (TSE:3254) for ¥36.8 billion. Open House Co., Ltd. (TSE:3288) made an offer to acquire an additional 30.8% stake in Pressance Corporation (TSE:3254) for ¥36.8 billion on November 13, 2020. Under the terms of the offer, Open House Co., Ltd. will acquire 19.9 million shares of Pressance Corporation and pay ¥1850 per share of common stock. Consideration will be payable by own funds. Post-closing, Pressance Corporation will be a consolidated subsidiary of Open House Co., Ltd. The planned tender offer period will start from November 16, 2020 and planned tender offer period will terminate on January 14, 2021. The Board of Directors of Pressance Corporation in a meeting held on November 13, 2020, expressed its support and resolved for the tender offer and resolved to leave the decision of our shareholders to decide whether or not to apply for the tender offer. Nishimura & Asahi acted as the legal advisor, Plutus Consulting acted as the third party calculation institution for Pressance Corporation. SMBC Nikko Securities Inc. acted as the third party calculation institution and tender offer agent for Pressance Corporation. Is New 90 Day High Low • Nov 06
New 90-day high: €31.00 The company is up 25% from its price of €24.80 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.13 per share. Tillkännagivande • Sep 03
Open House Co., Ltd. to Report Fiscal Year 2020 Results on Nov 13, 2020 Open House Co., Ltd. announced that they will report fiscal year 2020 results on Nov 13, 2020