Duyuru • May 12
eREX Co.,Ltd., Annual General Meeting, Jun 26, 2026 eREX Co.,Ltd., Annual General Meeting, Jun 26, 2026. Duyuru • May 10
eREX Co.,Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 eREX Co.,Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 12, 2026 Duyuru • Dec 27
eREX Co.,Ltd. to Report Q3, 2026 Results on Feb 10, 2026 eREX Co.,Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Duyuru • Sep 01
eREX Co.,Ltd. to Report Q2, 2026 Results on Nov 11, 2025 eREX Co.,Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Duyuru • Jul 18
eREX Co.,Ltd. to Report Q1, 2026 Results on Aug 08, 2025 eREX Co.,Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Duyuru • Mar 27
eREX Co.,Ltd. to Report Fiscal Year 2025 Results on May 12, 2025 eREX Co.,Ltd. announced that they will report fiscal year 2025 results on May 12, 2025 Duyuru • Feb 13
eREX Co.,Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2025 eREX Co.,Ltd. provided dividend guidance for the fiscal year ending March 31, 2025. For the year, the company expects dividend of JPY 11.00 per share compared to Nil a year ago. Duyuru • Dec 04
eREX Co.,Ltd. to Report Q3, 2025 Results on Feb 12, 2025 eREX Co.,Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: JP¥0.81 loss per share (vs JP¥124 loss in 2Q 2024) Second quarter 2025 results: JP¥0.81 loss per share (improved from JP¥124 loss in 2Q 2024). Revenue: JP¥49.8b (down 23% from 2Q 2024). Net loss: JP¥60.0m (loss narrowed 99% from 2Q 2024). Revenue is expected to decline by 6.4% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Germany are expected to grow by 1.8%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • Oct 09
eREX Co.,Ltd. to Report Q2, 2025 Results on Nov 08, 2024 eREX Co.,Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Duyuru • Sep 25
erex Co., Ltd. and Taiheiyo Cement Corporation Announce Complete PKS Co-Firing Test erex Co. Ltd. announced that a cofiring test of PKS (Palm Kernel Shell) has been conducted at the Itoigawa Power Plant, which is jointly operated by the Company and Taiheiyo Cement Corporation as follows: As part of efforts to address the social issue of achieving a de-carbonized society, the company is planning fuel conversion of coal-fired power plants in Japan. As a test to implement the plan, a co-firing test with coal using inexpensively procured PKS was conducted for eight days from September 6 to 13. The test operation was conducted with a maximum of approximately 30% PKS mixed with coal, and it was confirmed that stable firing and power generation were available. The company will continue to implement initiatives to achieve a de-carbonized society in Japan and abroad, with its biomass power generation business as a cornerstone. With regard to the fuel conversion of coal-fired power plants, the company will steadily proceed with the plan with the understanding and cooperation of local residents and other related parties. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥25.22 (vs JP¥64.09 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥25.22 (up from JP¥64.09 loss in 1Q 2024). Revenue: JP¥33.4b (down 40% from 1Q 2024). Net income: JP¥1.75b (up JP¥5.54b from 1Q 2024). Profit margin: 5.2% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €4.10. The fair value is estimated to be €5.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Jun 28
eREX Co.,Ltd. to Report Q1, 2025 Results on Aug 09, 2024 eREX Co.,Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • May 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Duyuru • May 28
eREX Co.,Ltd. Provides Consolidated Earnings Guidance for the Full Year of Fiscal Year Ending March 31, 2025 eREX Co.,Ltd. provided consolidated earnings guidance for the full year of fiscal year ending March 31, 2025. For the period, the company expects net sales of JPY 155,456 million, operating profit of JPY 5,378 million, profit attributable to owners of parent of JPY 1,885 million and basic earnings per share of JPY 31.75. Duyuru • May 15
eREX Co.,Ltd., Annual General Meeting, Jun 25, 2024 eREX Co.,Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • May 13
Full year 2024 earnings released: JP¥375 loss per share (vs JP¥155 profit in FY 2023) Full year 2024 results: JP¥375 loss per share (down from JP¥155 profit in FY 2023). Revenue: JP¥245.0b (down 17% from FY 2023). Net loss: JP¥22.3b (down 342% from profit in FY 2023). Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to grow by 7.5%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Duyuru • Mar 31
eREX Co.,Ltd. to Report Q4, 2024 Results on May 10, 2024 eREX Co.,Ltd. announced that they will report Q4, 2024 results on May 10, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: JP¥79.66 loss per share (vs JP¥23.67 profit in 3Q 2023) Third quarter 2024 results: JP¥79.66 loss per share (down from JP¥23.67 profit in 3Q 2023). Revenue: JP¥63.4b (down 25% from 3Q 2023). Net loss: JP¥4.73b (down 437% from profit in 3Q 2023). Revenue is expected to decline by 7.7% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to grow by 9.5%. New Risk • Jan 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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). Share price has been highly volatile over the past 3 months (10% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Duyuru • Jan 09
eREX Co.,Ltd. to Report Q3, 2024 Results on Feb 09, 2024 eREX Co.,Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 New Risk • Nov 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). New Risk • Nov 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 45% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (45% net debt to equity). Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.8% average weekly change). Duyuru • Sep 28
eREX Co.,Ltd. to Report Q2, 2024 Results on Nov 10, 2023 eREX Co.,Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 New Risk • Aug 14
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 6.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Reported Earnings • Aug 13
First quarter 2024 earnings released: JP¥64.09 loss per share (vs JP¥28.33 profit in 1Q 2023) First quarter 2024 results: JP¥64.09 loss per share (down from JP¥28.33 profit in 1Q 2023). Revenue: JP¥55.9b (down 4.7% from 1Q 2023). Net loss: JP¥3.80b (down 327% from profit in 1Q 2023). Revenue is expected to decline by 6.9% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to grow by 5.3%. Duyuru • Jun 28
eREX Co.,Ltd. to Report Q1, 2024 Results on Aug 10, 2023 eREX Co.,Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Duyuru • May 17
eREX Co.,Ltd., Annual General Meeting, Jun 23, 2023 eREX Co.,Ltd., Annual General Meeting, Jun 23, 2023. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥155 (vs JP¥163 in FY 2022) Full year 2023 results: EPS: JP¥155 (down from JP¥163 in FY 2022). Revenue: JP¥296.3b (up 29% from FY 2022). Net income: JP¥9.19b (down 4.8% from FY 2022). Profit margin: 3.1% (down from 4.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to grow by 3.0%. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €10.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Renewable Energy industry in Europe. Total loss to shareholders of 37% over the past year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥22.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.4%). Reported Earnings • Feb 13
Third quarter 2023 earnings released: EPS: JP¥23.67 (vs JP¥60.70 in 3Q 2022) Third quarter 2023 results: EPS: JP¥23.67 (down from JP¥60.70 in 3Q 2022). Revenue: JP¥84.1b (up 23% from 3Q 2022). Net income: JP¥1.40b (down 61% from 3Q 2022). Profit margin: 1.7% (down from 5.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Germany. Duyuru • Dec 28
eREX Co.,Ltd. to Report Q3, 2023 Results on Feb 10, 2023 eREX Co.,Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
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. 5 non-independent directors. Independent External Director Shigeru Kimura was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥48.34 (vs JP¥59.07 in 2Q 2022) Second quarter 2023 results: EPS: JP¥48.34 (down from JP¥59.07 in 2Q 2022). Revenue: JP¥78.9b (up 60% from 2Q 2022). Net income: JP¥2.86b (down 18% from 2Q 2022). Profit margin: 3.6% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Renewable Energy industry in Germany. Duyuru • Oct 19
eREX Co.,Ltd. to Report Q2, 2023 Results on Nov 11, 2022 eREX Co.,Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥28.33 (vs JP¥14.13 in 1Q 2022) First quarter 2023 results: EPS: JP¥28.33 (up from JP¥14.13 in 1Q 2022). Revenue: JP¥58.7b (up 77% from 1Q 2022). Net income: JP¥1.68b (up 101% from 1Q 2022). Profit margin: 2.9% (up from 2.5% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 15% compared to a 14% decline forecast for the industry in Germany. Duyuru • Jun 29
eREX Co.,Ltd. to Report Q1, 2023 Results on Aug 10, 2022 eREX Co.,Ltd. announced that they will report Q1, 2023 results on Aug 10, 2022 Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 22% share price gain to €15.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total returns to shareholders of 16% over the past year. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥163 (vs JP¥116 in FY 2021) Full year 2022 results: EPS: JP¥163 (up from JP¥116 in FY 2021). Revenue: JP¥230.5b (up 63% from FY 2021). Net income: JP¥9.65b (up 54% from FY 2021). Profit margin: 4.2% (down from 4.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 2.0% compared to a 30% decline forecast for the industry in Germany. Duyuru • May 14
eREX Co.,Ltd., Annual General Meeting, Jun 24, 2022 eREX Co.,Ltd., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent External Director Shigeru Kimura was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Apr 08
eREX Co.,Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 eREX Co.,Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 20% share price gain to €14.70, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 22x in the Renewable Energy industry in Europe. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 17% share price gain to €12.67, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 25x in the Renewable Energy industry in Europe. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 17% share price gain to €12.67, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 25x in the Renewable Energy industry in Europe. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥60.70 (up from JP¥22.92 in 3Q 2021). Revenue: JP¥68.3b (up 141% from 3Q 2021). Net income: JP¥3.59b (up 182% from 3Q 2021). Profit margin: 5.3% (up from 4.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 64%. Over the next year, revenue is expected to shrink by 17% compared to a 28% decline forecast for the industry in Germany. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥59.07 (vs JP¥42.56 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: JP¥49.5b (up 72% from 2Q 2021). Net income: JP¥3.49b (up 61% from 2Q 2021). Profit margin: 7.1% (down from 7.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 18% share price gain to €20.11, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 27x in the Renewable Energy industry in Europe. Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥14.13 (vs JP¥10.08 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: JP¥33.2b (up 79% from 1Q 2021). Net income: JP¥833.0m (up 62% from 1Q 2021). Profit margin: 2.5% (down from 2.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥18.97, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 30x in the Renewable Energy industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €34.59 per share. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 26% share price gain to JP¥19.94, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 28x in the Renewable Energy industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €31.82 per share. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥116 (vs JP¥89.01 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¥141.9b (up 60% from FY 2020). Net income: JP¥6.29b (up 39% from FY 2020). Profit margin: 4.4% (down from 5.1% in FY 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥116 (vs JP¥89.01 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¥141.9b (up 60% from FY 2020). Net income: JP¥6.29b (up 39% from FY 2020). Profit margin: 4.4% (down from 5.1% in FY 2020). The decrease in margin was driven by higher expenses.