Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥473, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 16x in the Multiline Retail industry in Japan. Total returns to shareholders of 61% over the past three years. Reported Earnings • Mar 14
First quarter 2026 earnings released: EPS: JP¥4.68 (vs JP¥10.10 in 1Q 2025) First quarter 2026 results: EPS: JP¥4.68 (down from JP¥10.10 in 1Q 2025). Revenue: JP¥4.58b (up 11% from 1Q 2025). Net income: JP¥38.0m (down 54% from 1Q 2025). Profit margin: 0.8% (down from 2.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥614, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 17x in the Multiline Retail industry in Japan. Total returns to shareholders of 101% over the past three years. Reported Earnings • Dec 16
Full year 2025 earnings released: EPS: JP¥19.83 (vs JP¥17.00 loss in FY 2024) Full year 2025 results: EPS: JP¥19.83 (up from JP¥17.00 loss in FY 2024). Revenue: JP¥16.6b (up 2.0% from FY 2024). Net income: JP¥161.0m (up JP¥299.0m from FY 2024). Profit margin: 1.0% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Duyuru • Dec 15
Generation Pass Co.,Ltd., Annual General Meeting, Jan 29, 2026 Generation Pass Co.,Ltd., Annual General Meeting, Jan 29, 2026. Duyuru • Oct 02
Generation Pass Co.,Ltd. to Report Fiscal Year 2025 Results on Dec 15, 2025 Generation Pass Co.,Ltd. announced that they will report fiscal year 2025 results on Dec 15, 2025 Reported Earnings • Sep 14
Third quarter 2025 earnings released: JP¥0.74 loss per share (vs JP¥5.05 profit in 3Q 2024) Third quarter 2025 results: JP¥0.74 loss per share (down from JP¥5.05 profit in 3Q 2024). Revenue: JP¥4.16b (flat on 3Q 2024). Net loss: JP¥6.00m (down 115% from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 15
Second quarter 2025 earnings released: EPS: JP¥4.80 (vs JP¥2.71 in 2Q 2024) Second quarter 2025 results: EPS: JP¥4.80 (up from JP¥2.71 in 2Q 2024). Revenue: JP¥4.21b (up 5.0% from 2Q 2024). Net income: JP¥39.0m (up 77% from 2Q 2024). Profit margin: 0.9% (up from 0.5% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jun 09
Now 20% overvalued Over the last 90 days, the stock has fallen 21% to JP¥420. The fair value is estimated to be JP¥349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 15
First quarter 2025 earnings released: EPS: JP¥10.10 (vs JP¥1.97 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥10.10 (up from JP¥1.97 loss in 1Q 2024). Revenue: JP¥4.13b (up 3.1% from 1Q 2024). Net income: JP¥82.0m (up JP¥98.0m from 1Q 2024). Profit margin: 2.0% (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 85 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Mar 04
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 287% to JP¥1,050. The fair value is estimated to be JP¥828, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has declined by 34%. New Risk • Feb 19
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 Japanese stocks, typically moving 9.9% 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 Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 5.9% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥3.16b market cap, or US$20.8m). New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (JP¥2.22b market cap, or US$14.0m). New Risk • Dec 18
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 Japanese stocks, typically moving 5.4% 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: Major Risk Earnings have declined by 5.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (JP¥2.36b market cap, or US$15.4m). Reported Earnings • Dec 16
Full year 2024 earnings released: JP¥17.00 loss per share (vs JP¥2.83 loss in FY 2023) Full year 2024 results: JP¥17.00 loss per share (further deteriorated from JP¥2.83 loss in FY 2023). Revenue: JP¥16.2b (up 7.2% from FY 2023). Net loss: JP¥138.0m (loss widened JP¥115.0m from FY 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Duyuru • Dec 13
Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2025 Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2025. Buy Or Sell Opportunity • Oct 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.5% to JP¥237. The fair value is estimated to be JP¥296, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years, while earnings per share has been flat. Duyuru • Oct 02
Generation Pass Co.,Ltd. to Report Fiscal Year 2024 Results on Dec 13, 2024 Generation Pass Co.,Ltd. announced that they will report fiscal year 2024 results on Dec 13, 2024 Buy Or Sell Opportunity • Sep 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.6% to JP¥240. The fair value is estimated to be JP¥300, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years, while earnings per share has been flat. Reported Earnings • Sep 15
Third quarter 2024 earnings released: EPS: JP¥5.05 (vs JP¥7.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥5.05 (down from JP¥7.15 in 3Q 2023). Revenue: JP¥4.12b (up 8.6% from 3Q 2023). Net income: JP¥41.0m (down 29% from 3Q 2023). Profit margin: 1.0% (down from 1.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to JP¥266. The fair value is estimated to be JP¥337, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 12%. Reported Earnings • Jun 16
Second quarter 2024 earnings released: EPS: JP¥2.71 (vs JP¥2.71 in 2Q 2023) Second quarter 2024 results: EPS: JP¥2.71 (in line with 2Q 2023). Revenue: JP¥4.01b (up 5.4% from 2Q 2023). Net income: JP¥22.0m (flat on 2Q 2023). Profit margin: 0.5% (down from 0.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 17
First quarter 2024 earnings released: JP¥1.97 loss per share (vs JP¥5.54 loss in 1Q 2023) First quarter 2024 results: JP¥1.97 loss per share (improved from JP¥5.54 loss in 1Q 2023). Revenue: JP¥4.00b (flat on 1Q 2023). Net loss: JP¥16.0m (loss narrowed 64% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 03
Full year 2023 earnings released: JP¥2.83 loss per share (vs JP¥42.26 profit in FY 2022) Full year 2023 results: JP¥2.83 loss per share (down from JP¥42.26 profit in FY 2022). Revenue: JP¥15.2b (down 5.2% from FY 2022). Net loss: JP¥23.0m (down 107% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 22
Now 22% overvalued Over the last 90 days, the stock has fallen 14% to JP¥233. The fair value is estimated to be JP¥191, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Dec 17
Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2024 Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2024. Reported Earnings • Dec 16
Full year 2023 earnings released: JP¥2.83 loss per share (vs JP¥42.26 profit in FY 2022) Full year 2023 results: JP¥2.83 loss per share (down from JP¥42.26 profit in FY 2022). Revenue: JP¥15.2b (down 5.2% from FY 2022). Net loss: JP¥23.0m (down 107% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 18
Third quarter 2023 earnings released: EPS: JP¥7.15 (vs JP¥17.25 in 3Q 2022) Third quarter 2023 results: EPS: JP¥7.15 (down from JP¥17.25 in 3Q 2022). Revenue: JP¥3.80b (down 17% from 3Q 2022). Net income: JP¥58.0m (down 59% from 3Q 2022). Profit margin: 1.5% (down from 3.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 16
Second quarter 2023 earnings released: EPS: JP¥2.71 (vs JP¥12.57 in 2Q 2022) Second quarter 2023 results: EPS: JP¥2.71 (down from JP¥12.57 in 2Q 2022). Revenue: JP¥3.81b (down 7.4% from 2Q 2022). Net income: JP¥22.0m (down 78% from 2Q 2022). Profit margin: 0.6% (down from 2.5% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 17
First quarter 2023 earnings released: JP¥5.54 loss per share (vs JP¥2.34 profit in 1Q 2022) First quarter 2023 results: JP¥5.54 loss per share (down from JP¥2.34 profit in 1Q 2022). Revenue: JP¥3.97b (up 11% from 1Q 2022). Net loss: JP¥45.0m (down 337% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: JP¥42.26 (vs JP¥11.09 loss in FY 2021) Full year 2022 results: EPS: JP¥42.26 (up from JP¥11.09 loss in FY 2021). Revenue: JP¥16.0b (up 21% from FY 2021). Net income: JP¥343.0m (up JP¥433.0m from FY 2021). Profit margin: 2.1% (up from net loss in FY 2021). The move to profitability was driven by higher 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 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥318, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 18x in the Online Retail industry in Japan. Total loss to shareholders of 38% over the past three years. Reported Earnings • Dec 18
Full year 2022 earnings released: EPS: JP¥42.26 (vs JP¥11.09 loss in FY 2021) Full year 2022 results: EPS: JP¥42.26 (up from JP¥11.09 loss in FY 2021). Revenue: JP¥16.0b (up 21% from FY 2021). Net income: JP¥343.0m (up JP¥433.0m from FY 2021). Profit margin: 2.1% (up from net loss in FY 2021). The move to profitability was driven by higher 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 10% per year, which means it is significantly lagging earnings. Duyuru • Dec 17
Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2023 Generation Pass Co.,Ltd., Annual General Meeting, Jan 30, 2023. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. 1 independent director (4 non-independent directors). Independent Outside Director Hiroshi Endo 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. Insufficient board refreshment. Duyuru • Oct 01
Generation Pass Co.,Ltd. to Report Fiscal Year 2022 Results on Dec 15, 2022 Generation Pass Co.,Ltd. announced that they will report fiscal year 2022 results on Dec 15, 2022 Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥451, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 18x in the Online Retail industry in Japan. Total loss to shareholders of 29% over the past three years. Reported Earnings • Sep 18
Third quarter 2022 earnings released: EPS: JP¥17.25 (vs JP¥0.62 in 3Q 2021) Third quarter 2022 results: EPS: JP¥17.25 (up from JP¥0.62 in 3Q 2021). Revenue: JP¥4.55b (up 28% from 3Q 2021). Net income: JP¥140.0m (up JP¥135.0m from 3Q 2021). Profit margin: 3.1% (up from 0.1% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 15
Second quarter 2022 earnings released: EPS: JP¥12.57 (vs JP¥8.50 in 2Q 2021) Second quarter 2022 results: EPS: JP¥12.57 (up from JP¥8.50 in 2Q 2021). Revenue: JP¥4.11b (up 21% from 2Q 2021). Net income: JP¥102.0m (up 48% from 2Q 2021). Profit margin: 2.5% (up from 2.0% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. 1 independent director (4 non-independent directors). Independent Outside Director Hiroshi Endo 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. Insufficient board refreshment. Reported Earnings • Mar 16
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥2.34 (up from JP¥7.02 loss in 1Q 2021). Revenue: JP¥3.59b (up 20% from 1Q 2021). Net income: JP¥19.0m (up JP¥76.0m from 1Q 2021). Profit margin: 0.5% (up from net loss in 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: JP¥11.09 loss per share (down from JP¥13.82 profit in FY 2020). Revenue: JP¥13.2b (up 5.0% from FY 2020). Net loss: JP¥90.0m (down 180% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 18
Third quarter 2021 earnings released: EPS JP¥0.62 (vs JP¥11.72 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥3.55b (down 10% from 3Q 2020). Net income: JP¥5.00m (down 95% from 3Q 2020). Profit margin: 0.1% (down from 2.4% in 3Q 2020). The decrease in margin was driven by lower revenue. 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 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 19
Second quarter 2021 earnings released: EPS JP¥8.50 (vs JP¥7.65 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: JP¥3.40b (up 13% from 2Q 2020). Net income: JP¥69.0m (up 11% from 2Q 2020). Profit margin: 2.0% (down from 2.1% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 16
First quarter 2021 earnings released: JP¥7.02 loss per share (vs JP¥4.81 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: JP¥3.00b (up 9.3% from 1Q 2020). Net loss: JP¥57.0m (loss widened 46% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 05
New 90-day low: JP¥534 The company is down 22% from its price of JP¥685 on 04 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 10.0% over the same period. Reported Earnings • Feb 03
Full year 2020 earnings released: EPS JP¥13.82 (vs JP¥1.36 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥12.6b (up 30% from FY 2019). Net income: JP¥112.0m (up JP¥101.0m from FY 2019). Profit margin: 0.9% (up from 0.1% in FY 2019). The increase in margin was driven by higher revenue. 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 3% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 30
Generation Pass Co.,Ltd. to Report Q3, 2021 Results on Sep 14, 2021 Generation Pass Co.,Ltd. announced that they will report Q3, 2021 results on Sep 14, 2021 Is New 90 Day High Low • Dec 28
New 90-day low: JP¥547 The company is down 42% from its price of JP¥938 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 27% share price decline to JP¥555, the stock is trading at a trailing P/E ratio of 40.2x, down from the previous P/E ratio of 54.9x. This compares to an average P/E of 26x in the Online Retail industry in Japan. Total return to shareholders over the past three years is a loss of 1.8%. Duyuru • Dec 17
Generation Pass Co.,Ltd., Annual General Meeting, Jan 28, 2021 Generation Pass Co.,Ltd., Annual General Meeting, Jan 28, 2021. Reported Earnings • Dec 17
Full year 2020 earnings released: EPS JP¥13.82 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥12.6b (up 30% from FY 2019). Net income: JP¥112.0m (up JP¥101.0m from FY 2019). Profit margin: 0.9% (up from 0.1% in FY 2019). The increase in margin was driven by higher revenue. 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 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥755, the stock is trading at a trailing P/E ratio of 39x, up from the previous P/E ratio of 33.8x. This compares to an average P/E of 25x in the Online Retail industry in Japan. Total returns to shareholders over the past three years are 28%. Is New 90 Day High Low • Dec 03
New 90-day low: JP¥677 The company is down 44% from its price of JP¥1,199 on 04 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 3.0% over the same period. Duyuru • Jul 31
Generation Pass Co.,Ltd. (TSE:3195) acquired an additional 17.78% stake in Qingdao Xinzhanfang Trade Co., Ltd from Kaking (Pte) Ltd. Generation Pass Co.,Ltd. (TSE:3195) acquired an additional 17.78% stake in Qingdao Xinzhanfang Trade Co., Ltd from Kaking (Pte) Ltd on April 15, 2020. As part of the acquisition, Generation Pass Co.,Ltd. (TSE:3195) will acquire 1.6 million of shares in Qingdao Xinzhanfang Trade Co., Ltd.
Generation Pass Co.,Ltd. (TSE:3195) completed the acquisition of an additional 17.78% stake in Qingdao Xinzhanfang Trade Co., Ltd from Kaking (Pte) Ltd on April 15, 2020.