Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,522, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Leisure industry in Japan. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,466 per share. Reported Earnings • May 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥240 (up from JP¥208 in FY 2025). Revenue: JP¥127.0b (up 2.4% from FY 2025). Net income: JP¥5.41b (up 13% from FY 2025). Profit margin: 4.3% (up from 3.9% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Tillkännagivande • May 15
Globeride, Inc. (TSE:7990) announces an Equity Buyback for 900,000 shares, representing 4.13% for ¥1,500 million. Globeride, Inc. (TSE:7990) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 4.13% of its share capital, for ¥1,500 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The repurchased shares will be cancelled. The program will be valid till September 30, 2026. As of March 31, 2026 , the company had 21,798,947 shares outstanding (excluding treasury shares) and 1,001,053 shares in treasury. Tillkännagivande • May 13
Globeride, Inc., Annual General Meeting, Jun 26, 2026 Globeride, Inc., Annual General Meeting, Jun 26, 2026. Tillkännagivande • May 10
Globeride, Inc. to Report Fiscal Year 2026 Results on May 13, 2026 Globeride, Inc. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Price Target Changed • Mar 17
Price target increased by 9.1% to JP¥2,400 Up from JP¥2,200, the current price target is provided by 1 analyst. New target price is 9.9% above last closing price of JP¥2,183. Stock is up 9.7% over the past year. The company is forecast to post earnings per share of JP¥201 for next year compared to JP¥208 last year. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥47.31 (vs JP¥55.90 in 3Q 2025) Third quarter 2026 results: EPS: JP¥47.31 (down from JP¥55.90 in 3Q 2025). Revenue: JP¥29.9b (up 3.2% from 3Q 2025). Net income: JP¥1.05b (down 18% from 3Q 2025). Profit margin: 3.5% (down from 4.4% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% 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. New Risk • Dec 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Dec 10
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥126.9b to JP¥125.2b. EPS estimate also fell from JP¥219 per share to JP¥187 per share. Net income forecast to shrink 14% next year vs 1.4% growth forecast for Leisure industry in Japan . Consensus price target down from JP¥2,150 to JP¥2,100. Share price was steady at JP¥2,109 over the past week. Declared Dividend • Dec 06
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 30th March 2026 Payment date: 8th June 2026 Dividend yield will be 4.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 16% 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 grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Dec 02
Globeride, Inc. to Report Q3, 2026 Results on Feb 12, 2026 Globeride, Inc. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥93.72 (vs JP¥72.96 in 2Q 2025) Second quarter 2026 results: EPS: JP¥93.72 (up from JP¥72.96 in 2Q 2025). Revenue: JP¥33.9b (flat on 2Q 2025). Net income: JP¥2.16b (up 28% from 2Q 2025). Profit margin: 6.4% (up from 5.0% in 2Q 2025). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 33% 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. Tillkännagivande • Nov 11
Globeride, Inc. (TSE:7990) announces an Equity Buyback for 1,200,000 shares, representing 5.22% for ¥2,769.6 million. Globeride, Inc. (TSE:7990) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 5.22% of its share capital, for ¥2,769.6 million. The shares will be repurchased at a price of ¥2,308 per share. The repurchased shares will be cancelled in order to enhance shareholder returns and improve capital efficiency. As of September 30, 2025 , the company had 22,999,797 shares outstanding (excluding treasury shares) and 1,000,203 shares in treasury. Buy Or Sell Opportunity • Oct 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to JP¥2,433. The fair value is estimated to be JP¥2,022, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Buy Or Sell Opportunity • Sep 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to JP¥2,446. The fair value is estimated to be JP¥2,018, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Tillkännagivande • Sep 02
Globeride, Inc. to Report Q2, 2026 Results on Nov 10, 2025 Globeride, Inc. announced that they will report Q2, 2026 results on Nov 10, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥77.13 (vs JP¥72.38 in 1Q 2025) First quarter 2026 results: EPS: JP¥77.13 (up from JP¥72.38 in 1Q 2025). Revenue: JP¥31.7b (down 2.9% from 1Q 2025). Net income: JP¥1.77b (up 6.6% from 1Q 2025). Profit margin: 5.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 36% 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. Declared Dividend • Jul 09
Final dividend increased to JP¥45.00 Dividend of JP¥45.00 is 13% higher than last year. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (43% 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 16% 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 grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 11
Price target increased by 8.9% to JP¥2,150 Up from JP¥1,975, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,100. Stock is down 6.3% over the past year. The company is forecast to post earnings per share of JP¥214 for next year compared to JP¥208 last year. Tillkännagivande • May 31
Globeride, Inc. to Report Q1, 2026 Results on Aug 08, 2025 Globeride, Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Major Estimate Revision • May 30
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥126.7b to JP¥128.1b. EPS estimate increased from JP¥185 to JP¥209 per share. Net income forecast to grow 0.4% next year vs 6.9% growth forecast for Leisure industry in Japan. Consensus price target of JP¥1,975 unchanged from last update. Share price rose 5.4% to JP¥2,041 over the past week. Reported Earnings • May 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥208 (down from JP¥243 in FY 2024). Revenue: JP¥124.0b (down 1.6% from FY 2024). Net income: JP¥4.78b (down 14% from FY 2024). Profit margin: 3.9% (down from 4.4% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 35% 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. Tillkännagivande • May 13
Globeride, Inc., Annual General Meeting, Jun 27, 2025 Globeride, Inc., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 43% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.8%). Price Target Changed • Mar 05
Price target decreased by 7.1% to JP¥1,975 Down from JP¥2,125, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥1,930. Stock is down 5.5% over the past year. The company is forecast to post earnings per share of JP¥171 for next year compared to JP¥243 last year. Tillkännagivande • Mar 01
Globeride, Inc. to Report Fiscal Year 2025 Results on May 13, 2025 Globeride, Inc. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥55.90 (vs JP¥48.91 in 3Q 2024) Third quarter 2025 results: EPS: JP¥55.90 (up from JP¥48.91 in 3Q 2024). Revenue: JP¥29.0b (up 1.4% from 3Q 2024). Net income: JP¥1.29b (up 14% from 3Q 2024). Profit margin: 4.4% (up from 3.9% in 3Q 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Leisure industry in Japan. 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 11% per year, which means it has not declined as severely as earnings. Declared Dividend • Dec 07
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 16% 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 grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Nov 30
Globeride, Inc. to Report Q3, 2025 Results on Feb 13, 2025 Globeride, Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥72.96 (vs JP¥68.99 in 2Q 2024) Second quarter 2025 results: EPS: JP¥72.96 (up from JP¥68.99 in 2Q 2024). Revenue: JP¥33.8b (flat on 2Q 2024). Net income: JP¥1.68b (up 5.8% from 2Q 2024). Profit margin: 5.0% (up from 4.7% in 2Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Tillkännagivande • Aug 27
Globeride, Inc. to Report Q2, 2025 Results on Nov 08, 2024 Globeride, Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥71.81 (vs JP¥153 in 1Q 2024) First quarter 2025 results: EPS: JP¥71.81 (down from JP¥153 in 1Q 2024). Revenue: JP¥31.5b (down 7.7% from 1Q 2024). Net income: JP¥1.65b (down 53% from 1Q 2024). Profit margin: 5.2% (down from 10% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 22% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,751, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Leisure industry in Japan. Total loss to shareholders of 41% over the past three years. Declared Dividend • Jul 11
Final dividend increased to JP¥40.00 Dividend of JP¥40.00 is 14% higher than last year. Ex-date: 27th September 2024 Payment date: 6th December 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 16% 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 grow by 8.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 02
Globeride, Inc. to Report Q1, 2025 Results on Aug 08, 2024 Globeride, Inc. announced that they will report Q1, 2025 results on Aug 08, 2024 Major Estimate Revision • May 31
Consensus EPS estimates fall by 42%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from JP¥123.2b to JP¥124.5b. EPS estimate fell from JP¥262 to JP¥152 per share. Net income forecast to shrink 37% next year vs 5.8% growth forecast for Leisure industry in Japan . Consensus price target of JP¥2,300 unchanged from last update. Share price rose 4.4% to JP¥2,077 over the past week. Reported Earnings • May 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥243 (down from JP¥400 in FY 2023). Revenue: JP¥126.0b (down 6.4% from FY 2023). Net income: JP¥5.58b (down 39% from FY 2023). Profit margin: 4.4% (down from 6.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 3.6%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • May 15
Globeride, Inc., Annual General Meeting, Jun 27, 2024 Globeride, Inc., Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Tillkännagivande • Mar 02
Globeride, Inc. to Report Fiscal Year 2024 Results on May 13, 2024 Globeride, Inc. announced that they will report fiscal year 2024 results on May 13, 2024 Major Estimate Revision • Feb 25
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥127.0b to JP¥124.0b. EPS estimate also fell from JP¥253 per share to JP¥226 per share. Net income forecast to grow 9.4% next year vs 16% growth forecast for Leisure industry in Japan. Consensus price target of JP¥2,300 unchanged from last update. Share price was steady at JP¥2,018 over the past week. Tillkännagivande • Feb 22
Globeride, Inc. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Globeride, Inc. provided dividend guidance for the fiscal year ending March 31, 2024. For the year-end, the company expects to pay dividend of JPY 35.00 per share against JPY 30.00 per share paid a year ago. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: JP¥48.91 (vs JP¥96.21 in 3Q 2023) Third quarter 2024 results: EPS: JP¥48.91 (down from JP¥96.21 in 3Q 2023). Revenue: JP¥28.6b (down 9.3% from 3Q 2023). Net income: JP¥1.12b (down 49% from 3Q 2023). Profit margin: 3.9% (down from 7.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Tillkännagivande • Nov 27
Globeride, Inc. to Report Q3, 2024 Results on Feb 13, 2024 Globeride, Inc. announced that they will report Q3, 2024 results on Feb 13, 2024 Tillkännagivande • Nov 21
Globeride, Inc. Announces Dividend for the Second Quarter Ended September 30, 2023, Payable on December 6, 2023 Globeride, Inc. announced a dividend of JPY 35.00 per share for the second quarter ended September 30, 2023, against JPY 30.00 per share a year ago. The scheduled date of commencing dividend payments: December 6, 2023. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥68.99 (vs JP¥134 in 2Q 2023) Second quarter 2024 results: EPS: JP¥68.99 (down from JP¥134 in 2Q 2023). Revenue: JP¥33.8b (down 9.6% from 2Q 2023). Net income: JP¥1.59b (down 48% from 2Q 2023). Profit margin: 4.7% (down from 8.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. 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: 06 December 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥136.1b to JP¥128.5b. EPS estimate also fell from JP¥383 per share to JP¥242 per share. Net income forecast to shrink 25% next year vs 13% growth forecast for Leisure industry in Japan . Consensus price target of JP¥2,720 unchanged from last update. Share price rose 5.2% to JP¥1,999 over the past week. Tillkännagivande • Aug 24
Globeride, Inc. to Report Q2, 2024 Results on Nov 08, 2023 Globeride, Inc. announced that they will report Q2, 2024 results on Nov 08, 2023 Price Target Changed • Aug 17
Price target decreased by 23% to JP¥2,720 Down from JP¥3,550, the current price target is provided by 1 analyst. New target price is 39% above last closing price of JP¥1,951. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥383 for next year compared to JP¥400 last year. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,908, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Leisure industry in Japan. Total returns to shareholders of 60% over the past three years. Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥153 (vs JP¥190 in 1Q 2023) First quarter 2024 results: EPS: JP¥153 (down from JP¥190 in 1Q 2023). Revenue: JP¥34.1b (down 7.7% from 1Q 2023). Net income: JP¥3.51b (down 19% from 1Q 2023). Profit margin: 10% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 28
Globeride, Inc. to Report Q1, 2024 Results on Aug 09, 2023 Globeride, Inc. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥400 (down from JP¥417 in FY 2022). Revenue: JP¥134.6b (up 12% from FY 2022). Net income: JP¥9.19b (down 4.0% from FY 2022). Profit margin: 6.8% (down from 7.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.1%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 14
Globeride, Inc., Annual General Meeting, Jun 29, 2023 Globeride, Inc., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 6.7% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥96.21 (vs JP¥99.37 in 3Q 2022) Third quarter 2023 results: EPS: JP¥96.21 (down from JP¥99.37 in 3Q 2022). Revenue: JP¥31.5b (up 8.9% from 3Q 2022). Net income: JP¥2.21b (down 3.2% 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 3.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 13
Now 20% undervalued Over the last 90 days, the stock is up 3.4%. The fair value is estimated to be JP¥3,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 65%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 1.5% per annum over the same time period. Tillkännagivande • Nov 27
Globeride, Inc. to Report Q3, 2023 Results on Feb 10, 2023 Globeride, Inc. announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥134 (vs JP¥114 in 2Q 2022) Second quarter 2023 results: EPS: JP¥134 (up from JP¥114 in 2Q 2022). Revenue: JP¥37.3b (up 18% from 2Q 2022). Net income: JP¥3.07b (up 17% from 2Q 2022). Profit margin: 8.2% (down from 8.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥134 (vs JP¥114 in 2Q 2022) Second quarter 2023 results: EPS: JP¥134 (up from JP¥114 in 2Q 2022). Revenue: JP¥37.3b (up 18% from 2Q 2022). Net income: JP¥3.07b (up 17% from 2Q 2022). Profit margin: 8.2% (down from 8.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 12% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.2%). Major Estimate Revision • Sep 07
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥366 to JP¥410. Revenue forecast steady at JP¥128.1b. Net income forecast to shrink 5.3% next year vs 6.3% decline forecast for Leisure industry in Japan. Consensus price target down from JP¥3,750 to JP¥3,500. Share price fell 11% to JP¥2,441 over the past week. Tillkännagivande • Aug 24
Globeride, Inc. to Report Q2, 2023 Results on Nov 08, 2022 Globeride, Inc. announced that they will report Q2, 2023 results on Nov 08, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥190 (vs JP¥172 in 1Q 2022) First quarter 2023 results: EPS: JP¥190 (up from JP¥172 in 1Q 2022). Revenue: JP¥37.0b (up 12% from 1Q 2022). Net income: JP¥4.35b (up 10% from 1Q 2022). Profit margin: 12% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 4.7%, compared to a 4.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jun 01
Globeride, Inc. to Report Q1, 2023 Results on Aug 10, 2022 Globeride, Inc. announced that they will report Q1, 2023 results on Aug 10, 2022 Price Target Changed • Jun 01
Price target decreased to JP¥4,500 Down from JP¥5,000, the current price target is an average from 2 analysts. New target price is 92% above last closing price of JP¥2,346. Stock is up 13% over the past year. The company is forecast to post earnings per share of JP¥357 for next year compared to JP¥417 last year. Tillkännagivande • May 18
Globeride, Inc., Annual General Meeting, Jun 29, 2022 Globeride, Inc., Annual General Meeting, Jun 29, 2022. Reported Earnings • May 16
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥417 (up from JP¥209 in FY 2021). Revenue: JP¥120.7b (up 20% from FY 2021). Net income: JP¥9.57b (up 99% from FY 2021). Profit margin: 7.9% (up from 4.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 6.1%, compared to a 4.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Apr 08
Globeride, Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Globeride, Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.2%). Major Estimate Revision • Feb 24
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥117.5b to JP¥119.4b. EPS estimate increased from JP¥348 to JP¥406 per share. Net income forecast to grow 8.5% next year vs 1.1% growth forecast for Leisure industry in Japan. Consensus price target of JP¥4,850 unchanged from last update. Share price was steady at JP¥2,791 over the past week.