Upcoming Dividend • Jun 22
Upcoming dividend of JP¥1.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 09 September 2026. Payout ratio is a comfortable 3.7% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (1.3%). Duyuru • Jun 03
istyle Inc. to Report Fiscal Year 2026 Results on Aug 13, 2026 istyle Inc. announced that they will report fiscal year 2026 results on Aug 13, 2026 Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥392, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Specialty Retail industry in Japan. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥359 per share. Reported Earnings • May 09
Third quarter 2026 earnings released: EPS: JP¥7.47 (vs JP¥8.35 in 3Q 2025) Third quarter 2026 results: EPS: JP¥7.47. Revenue: JP¥19.6b (up 17% from 3Q 2025). Net income: JP¥746.0m (up 13% from 3Q 2025). Profit margin: 3.8% (down from 3.9% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Specialty Retail industry in Japan. Declared Dividend • Feb 14
Dividend of JP¥1.00 announced Dividend of JP¥1.00 is the same as last year. Ex-date: 29th June 2026 Payment date: 9th September 2026 Dividend yield will be 0.2%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 4%. Cash payout ratio: 17%. Reported Earnings • Feb 14
Second quarter 2026 earnings released: EPS: JP¥5.64 (vs JP¥6.31 in 2Q 2025) Second quarter 2026 results: EPS: JP¥5.64. Revenue: JP¥21.6b (up 20% from 2Q 2025). Net income: JP¥563.0m (up 13% from 2Q 2025). Profit margin: 2.6% (down from 2.8% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Japan. Reported Earnings • Nov 12
First quarter 2026 earnings released: EPS: JP¥7.01 (vs JP¥7.66 in 1Q 2025) First quarter 2026 results: EPS: JP¥7.01. Revenue: JP¥18.4b (up 23% from 1Q 2025). Net income: JP¥648.0m (up 7.5% from 1Q 2025). Profit margin: 3.5% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. New Risk • Sep 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 18% 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 Risk Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Sep 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% 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: Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Duyuru • Sep 06
istyle Inc. to Report Q1, 2026 Results on Nov 10, 2025 istyle Inc. announced that they will report Q1, 2026 results on Nov 10, 2025 Reported Earnings • Aug 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥28.98 (up from JP¥15.65 in FY 2024). Revenue: JP¥68.8b (up 23% from FY 2024). Net income: JP¥2.33b (up 92% from FY 2024). Profit margin: 3.4% (up from 2.2% in FY 2024). 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 11%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 12
istyle Inc., Annual General Meeting, Sep 27, 2025 istyle Inc., Annual General Meeting, Sep 27, 2025. Duyuru • Jun 03
istyle Inc. to Report Fiscal Year 2025 Results on Aug 12, 2025 istyle Inc. announced that they will report fiscal year 2025 results on Aug 12, 2025 Buy Or Sell Opportunity • May 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 1.9% to JP¥526. The fair value is estimated to be JP¥428, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 78%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Reported Earnings • May 15
Third quarter 2025 earnings released: EPS: JP¥8.35 (vs JP¥4.51 in 3Q 2024) Third quarter 2025 results: EPS: JP¥8.35 (up from JP¥4.51 in 3Q 2024). Revenue: JP¥16.8b (up 21% from 3Q 2024). Net income: JP¥661.0m (up 88% from 3Q 2024). Profit margin: 3.9% (up from 2.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥381, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 112% over the past three years. Duyuru • Mar 06
istyle Inc. to Report Q3, 2025 Results on May 13, 2025 istyle Inc. announced that they will report Q3, 2025 results on May 13, 2025 Reported Earnings • Feb 14
Second quarter 2025 earnings released: EPS: JP¥6.31 (vs JP¥4.05 in 2Q 2024) Second quarter 2025 results: EPS: JP¥6.31 (up from JP¥4.05 in 2Q 2024). Revenue: JP¥18.0b (up 23% from 2Q 2024). Net income: JP¥497.0m (up 60% from 2Q 2024). Profit margin: 2.8% (up from 2.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail 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 42% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to JP¥532. The fair value is estimated to be JP¥432, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥504, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Specialty Retail industry in Japan. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥430 per share. Duyuru • Jan 03
istyle Inc. to Report Q2, 2025 Results on Feb 12, 2025 istyle Inc. announced that they will report Q2, 2025 results on Feb 12, 2025 Reported Earnings • Nov 09
First quarter 2025 earnings released: EPS: JP¥7.66 (vs JP¥2.23 in 1Q 2024) First quarter 2025 results: EPS: JP¥7.66 (up from JP¥2.23 in 1Q 2024). Revenue: JP¥15.0b (up 21% from 1Q 2024). Net income: JP¥603.0m (up 253% from 1Q 2024). Profit margin: 4.0% (up from 1.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 27
istyle Inc. to Report Q1, 2025 Results on Nov 08, 2024 istyle Inc. announced that they will report Q1, 2025 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥488, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total returns to shareholders of 13% over the past three years. Reported Earnings • Aug 17
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥15.65 (up from JP¥3.69 in FY 2023). Revenue: JP¥56.1b (up 31% from FY 2023). Net income: JP¥1.21b (up 342% from FY 2023). Profit margin: 2.2% (up from 0.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 14
istyle Inc., Annual General Meeting, Sep 25, 2024 istyle Inc., Annual General Meeting, Sep 25, 2024. New Risk • Aug 05
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 7.4% 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: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to JP¥319, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Specialty Retail industry in Japan. Total loss to shareholders of 25% over the past three years. Duyuru • Jul 11
istyle Inc. to Report Fiscal Year 2024 Results on Aug 14, 2024 istyle Inc. announced that they will report fiscal year 2024 results on Aug 14, 2024 Reported Earnings • May 12
Third quarter 2024 earnings released: EPS: JP¥4.51 (vs JP¥0.74 in 3Q 2023) Third quarter 2024 results: EPS: JP¥4.51 (up from JP¥0.74 in 3Q 2023). Revenue: JP¥13.9b (up 31% from 3Q 2023). Net income: JP¥351.0m (up JP¥295.0m from 3Q 2023). Profit margin: 2.5% (up from 0.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 24
istyle Inc. to Report Q3, 2024 Results on May 10, 2024 istyle Inc. announced that they will report Q3, 2024 results on May 10, 2024 Reported Earnings • Feb 16
Second quarter 2024 earnings released: EPS: JP¥4.05 (vs JP¥1.82 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥4.05 (up from JP¥1.82 loss in 2Q 2023). Revenue: JP¥14.7b (up 32% from 2Q 2023). Net income: JP¥311.0m (up JP¥448.0m from 2Q 2023). Profit margin: 2.1% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Feb 15
istyle Inc. (TSE:3660) agreed to acquire a 25.11% stake in Trenders, Inc. (TSE:6069) from Ikuo Okamoto for ¥1.9 billion istyle Inc. (TSE:3660) agreed to acquire a 23.2% stake in Trenders, Inc. (TSE:6069) from Ikuo Okamoto for ¥1.9 billion on February 14, 2024. Buy Or Sell Opportunity • Feb 13
Now 22% overvalued Over the last 90 days, the stock has fallen 10% to JP¥416. The fair value is estimated to be JP¥342, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 236% in the next 2 years. Duyuru • Dec 17
istyle Inc. to Report Q2, 2024 Results on Feb 14, 2024 istyle Inc. announced that they will report Q2, 2024 results on Feb 14, 2024 Reported Earnings • Nov 10
First quarter 2024 earnings released: EPS: JP¥2.23 (vs JP¥1.39 in 1Q 2023) First quarter 2024 results: EPS: JP¥2.23 (up from JP¥1.39 in 1Q 2023). Revenue: JP¥12.4b (up 35% from 1Q 2023). Net income: JP¥171.0m (up 69% from 1Q 2023). Profit margin: 1.4% (up from 1.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Oct 01
istyle Inc. to Report Q1, 2024 Results on Nov 09, 2023 istyle Inc. announced that they will report Q1, 2024 results on Nov 09, 2023 Reported Earnings • Aug 15
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥3.69 (up from JP¥7.99 loss in FY 2022). Revenue: JP¥42.9b (up 25% from FY 2022). Net income: JP¥275.0m (up JP¥846.0m from FY 2022). Profit margin: 0.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 117%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 14
istyle Inc., Annual General Meeting, Sep 29, 2023 istyle Inc., Annual General Meeting, Sep 29, 2023. Duyuru • Jun 04
istyle Inc. to Report Fiscal Year 2023 Results on Aug 14, 2023 istyle Inc. announced that they will report fiscal year 2023 results on Aug 14, 2023 Reported Earnings • May 17
Third quarter 2023 earnings released: EPS: JP¥0.74 (vs JP¥0.24 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥0.74 (up from JP¥0.24 loss in 3Q 2022). Revenue: JP¥10.6b (up 27% from 3Q 2022). Net income: JP¥56.0m (up JP¥73.0m from 3Q 2022). Profit margin: 0.5% (up from net loss in 3Q 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Duyuru • May 13
istyle Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending June 30, 2023 istyle Inc. provided consolidated earnings guidance for the fiscal year ending June 30, 2023. For the period, Company expects net sales of JPY 42,500 million, operating profit of JPY 800 million, net income attributable to owners of parent company of JPY 100 million and net income per share of JPY 1.34. Reported Earnings • Feb 14
Second quarter 2023 earnings released: JP¥1.82 loss per share (vs JP¥7.71 loss in 2Q 2022) Second quarter 2023 results: JP¥1.82 loss per share (improved from JP¥7.71 loss in 2Q 2022). Revenue: JP¥11.2b (up 20% from 2Q 2022). Net loss: JP¥137.0m (loss narrowed 75% from 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 14
istyle Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending June 30, 2023 istyle Inc. provided consolidated earnings guidance for the fiscal year ending June 30, 2023. For the year, the company expects net sales of JPY 40,000 million, Operating income of JPY 500 million, Net income attributable to owners of the parent company of JPY 30 million and net income per share of JPY 0.40. Duyuru • Nov 27
istyle Inc. to Report Q2, 2023 Results on Feb 13, 2023 istyle Inc. announced that they will report Q2, 2023 results on Feb 13, 2023 Reported Earnings • Nov 16
First quarter 2023 earnings released: EPS: JP¥1.39 (vs JP¥0.73 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥1.39 (up from JP¥0.73 loss in 1Q 2022). Revenue: JP¥9.20b (up 18% from 1Q 2022). Net income: JP¥101.0m (up JP¥153.0m from 1Q 2022). Profit margin: 1.1% (up from net loss in 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Outside Director Shinsuke Usami was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
First quarter 2023 earnings released: EPS: JP¥1.39 (vs JP¥0.73 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥1.39 (up from JP¥0.73 loss in 1Q 2022). Revenue: JP¥9.20b (up 18% from 1Q 2022). Net income: JP¥101.0m (up JP¥153.0m from 1Q 2022). Profit margin: 1.1% (up from net loss in 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 17
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: JP¥7.99 loss per share (down from JP¥5.49 profit in FY 2021). Revenue: JP¥34.4b (up 11% from FY 2021). Net loss: JP¥571.0m (down 251% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.4%. Over the next year, revenue is forecast to grow 13%, compared to a 13% growth forecast for the Online Retail industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 26% share price gain to JP¥373, the stock trades at a forward P/E ratio of 178x. Average forward P/E is 18x in the Online Retail industry in Japan. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥184 per share. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥253, the stock trades at a forward P/E ratio of 137x. Average forward P/E is 20x in the Online Retail industry in Japan. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥195 per share. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥193, the stock trades at a forward P/E ratio of 104x. Average forward P/E is 19x in the Online Retail industry in Japan. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥158 per share. Reported Earnings • May 17
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: JP¥0.24 loss per share (up from JP¥8.62 loss in 3Q 2021). Revenue: JP¥8.36b (up 10% from 3Q 2021). Net loss: JP¥17.0m (loss narrowed 97% from 3Q 2021). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Shinsuke Usami was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: JP¥7.71 loss per share (down from JP¥7.32 loss in 2Q 2021). Revenue: JP¥9.33b (up 15% from 2Q 2021). Net loss: JP¥551.0m (loss widened 11% from 2Q 2021). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 16%, compared to a 16% growth forecast for the 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 fallen by 36% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥182, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 18x in the Online Retail industry in Japan. Total loss to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥294 per share. Reported Earnings • Nov 07
First quarter 2022 earnings released: JP¥0.73 loss per share (vs JP¥4.30 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: JP¥7.78b (up 3.7% from 1Q 2021). Net loss: JP¥52.0m (loss narrowed 82% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 28% per year. Reported Earnings • Oct 05
Full year 2021 earnings released: EPS JP¥5.49 (vs JP¥76.95 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥31.0b (up 1.3% from FY 2020). Net income: JP¥379.0m (up JP¥5.40b from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Full year 2021 earnings released: EPS JP¥5.49 (vs JP¥76.95 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥31.0b (up 1.3% from FY 2020). Net income: JP¥379.0m (up JP¥5.40b from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 60% 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 • May 17
Third quarter 2021 earnings released: JP¥8.62 loss per share (vs JP¥4.32 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: JP¥7.57b (down 1.3% from 3Q 2020). Net loss: JP¥615.0m (loss widened 118% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 13
Second quarter 2021 earnings released: JP¥7.32 loss per share (vs JP¥57.35 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses and improved control over expenses, although revenues were flat. Second quarter 2021 results: Revenue: JP¥8.11b (flat on 2Q 2020). Net loss: JP¥496.0m (loss narrowed 87% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Feb 13
Revenue behind estimates Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 21%, compared to a 18% growth forecast for the Online Retail industry in Japan. Is New 90 Day High Low • Feb 09
New 90-day high: JP¥510 The company is up 11% from its price of JP¥461 on 11 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 12% over the same period.