Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥231, the stock trades at a trailing P/E ratio of 76.2x. Average trailing P/E is 15x in the IT industry in Japan. Total loss to shareholders of 83% over the past three years. Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥3.04 (vs JP¥29.01 loss in FY 2025) Full year 2026 results: EPS: JP¥3.04 (up from JP¥29.01 loss in FY 2025). Revenue: JP¥6.70b (up 25% from FY 2025). Net income: JP¥130.0m (up JP¥1.15b from FY 2025). Profit margin: 1.9% (up from net loss in FY 2025). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Duyuru • May 15
ENECHANGE Ltd., Annual General Meeting, Jun 23, 2026 ENECHANGE Ltd., Annual General Meeting, Jun 23, 2026. Duyuru • Apr 11
ENECHANGE Ltd. to Report Q3, 2026 Results on Feb 05, 2027 ENECHANGE Ltd. announced that they will report Q3, 2026 results on Feb 05, 2027 New Risk • Apr 04
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 9.3% 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 (9.3% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥13.6b market cap, or US$85.1m). Reported Earnings • Nov 08
Third quarter 2025 earnings released Third quarter 2025 results: Net income: (up JP¥625.8m from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. New Risk • Oct 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.7b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (JP¥14.7b market cap, or US$99.9m). Duyuru • Sep 01
ENECHANGE Ltd. to Report Q2, 2025 Results on Nov 07, 2025 ENECHANGE Ltd. announced that they will report Q2, 2025 results on Nov 07, 2025 Reported Earnings • Jun 30
Full year 2025 earnings released: JP¥29.01 loss per share (vs JP¥159 loss in FY 2024) Full year 2025 results: JP¥29.01 loss per share (improved from JP¥159 loss in FY 2024). Revenue: JP¥5.37b (up 15% from FY 2024). Net loss: JP¥1.02b (loss narrowed 79% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 40% per year whereas the company’s share price has fallen by 38% per year. New Risk • Jun 14
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 9.4% 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 (9.4% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (JP¥13.9b market cap, or US$96.5m). Duyuru • Mar 27
ENECHANGE Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 ENECHANGE Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 New Risk • Feb 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-JP¥929m). Earnings have declined by 57% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Duyuru • Feb 20
ENECHANGE Ltd. announced that it has received ¥2.95 billion in funding from Itochu Enex Co.,Ltd. On February 19, 2025, ENECHANGE Ltd. closed the transaction. Duyuru • Feb 17
ENECHANGE Ltd. Provides Notice Concerning Litigation Filed ENECHANGE Ltd. received notice on February 10, 2025 of a legal complaint filed on December 27, 2024. The company hereby announced as follows. Court and date on which the lawsuit was filed: The court where the case was filed: Tokyo District Court; Date of filing: December 27, 2024 (Date of service of complaint: February 10, 2025). Overview of the plaintiff: Name: Former employee: 1 person; Location: Confidentiality. Cause and Background Leading to the Filing of the Lawsuit: Based on the Q&A on Stock Option Taxation announced by the National Tax Agency on May 30, 2023, the economic benefit obtained when the company’s officers and employees exercise the rights granted by the company to acquire shares under the Stock Option Trust is considered as salary. As a result, it constitutes wage income, requiring the company to withhold income tax at source. The company have held discussions with former employees regarding the demand for tax reimbursement. However, the lawsuit seeks confirmation of non-existence of obligations for tax reimbursement and claims damages, arguing that right to reimbursement is not recognized and that it violated its duty to carefully calculate the withholding tax amount. Details of the lawsuit: Description of claims: Verification of non-existence of obligation and claim for damages. Amount claimed: JPY 18,007,978 for verification of non-existence of obligation, JPY 177,100 for damages, plus interest on delayed damages. Future prospects: The company intend to carefully examine the claims and grounds of the former employee and respond appropriately to assert and prove its legitimacy. Reported Earnings • Feb 15
Full year 2024 earnings released: JP¥97.88 loss per share (vs JP¥164 loss in FY 2023) Full year 2024 results: JP¥97.88 loss per share (improved from JP¥164 loss in FY 2023). Revenue: JP¥5.18b (up 18% from FY 2023). Net loss: JP¥3.36b (loss narrowed 33% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 33 percentage points per year, which is a significant difference in performance. Duyuru • Feb 11
ENECHANGE Ltd. to Report Q4, 2024 Results on Feb 13, 2025 ENECHANGE Ltd. announced that they will report Q4, 2024 results on Feb 13, 2025 Duyuru • Feb 04
ENECHANGE Ltd. announced that it expects to receive ¥2.95 billion in funding from Itochu Enex Co.,Ltd. ENECHANGE Ltd. announced that it has entered into capital and business alliance agreement with Itochu Enex Co., Ltd and private placement to issue 7,375,000 common shares at an issue price of ¥400 per share for the gross proceeds of ¥2,950,000,000 on February 3, 2025. The transaction has been approved by shareholders and is expected to close on February 19, 2025. The company has disclosed the Estimated issuance expenses of ¥113,000,000 and net proceeds is ¥2,837,000,000. Duyuru • Dec 16
Terra Charge Corporation Files Lawsuit Against ENECHANGE Ltd ENECHANGE Ltd. received notice on December 13, 2024 of a legal complaint filed on November 29, 2024. Court and date on which the lawsuit was filed: The court where the case was filed: Tokyo District Court; Date of filing: November 29, 2024 (Date of service of complaint: December 13, 2024). Overview of the plaintiff:) Name: Terra Charge Corporation; Cause and Background Leading to the Filing of the Lawsuit: In late September 2024, the company received a claim for damages from Terra Charge Corporation (hereinafter referred to as Terra), alleging that: (1) statements made by its former CEO, Yohei Kiguchi, during a Q&A session at the Financial Results Briefing for individual investors scheduled for February 2024, which is published on its website, constitute tort and unfair competition acts; (2) the company engaged in unjust interference with the aim of withdrawing investments or loans concerning investment or loan agreements between Terra and its business partners, which also constitutes a tort. Although do not believe that the statements in (1) constitute tort or unfair competition acts, it has suspended the publication of the Q&A session remarks pointed out by Terra. Regarding (2), it has been explaining to Terra that there is no fact that the company engaged in the actions claimed by Terra, and it has been responding sincerely. However, Terra has now filed this lawsuit seeking payment of damages for the aforementioned reasons. Details of the lawsuit: Description of claims: Claims for damages; Amount claimed: JPY 510 million and delayed damages. New Risk • Nov 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥2.5b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.5b free cash flow). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 70% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (JP¥11.8b market cap, or US$76.6m). Duyuru • Oct 05
ENECHANGE Ltd. to Report Q3, 2024 Results on Nov 14, 2024 ENECHANGE Ltd. announced that they will report Q3, 2024 results on Nov 14, 2024 New Risk • Sep 28
New major risk - Revenue and earnings growth Earnings have declined by 74% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 74% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (JP¥9.00b market cap, or US$63.3m). Reported Earnings • Sep 15
Second quarter 2024 earnings released: JP¥40.58 loss per share (vs JP¥26.06 loss in 2Q 2023) Second quarter 2024 results: JP¥40.58 loss per share (further deteriorated from JP¥26.06 loss in 2Q 2023). Revenue: JP¥1.37b (up 39% from 2Q 2023). Net loss: JP¥1.41b (loss widened 79% from 2Q 2023). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Duyuru • Sep 03
ENECHANGE Ltd. Provides Consolidated Sales Guidance for the Fiscal Year Ending March 31, 2025 ENECHANGE Ltd. provided consolidated sales guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 6,500 million. Duyuru • Aug 15
ENECHANGE Ltd. to Report Q2, 2024 Results on Sep 13, 2024 ENECHANGE Ltd. announced that they will report Q2, 2024 results on Sep 13, 2024 Reported Earnings • Jul 18
First quarter 2024 earnings released: JP¥11.44 loss per share (vs JP¥14.11 loss in 1Q 2023) First quarter 2024 results: JP¥11.44 loss per share (improved from JP¥14.11 loss in 1Q 2023). Revenue: JP¥1.36b (up 27% from 1Q 2023). Net loss: JP¥371.0m (loss narrowed 13% from 1Q 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Board Change • Mar 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 2 experienced directors. No highly experienced directors. Independent Outside Director Kana Bogaki is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Feb 28
ENECHANGE Innovation Limited announced that it has received ¥3.9998994 billion in funding On February 26, 2024, ENECHANGE Innovation Limited, closed the transaction. New Risk • Feb 13
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 9.4% 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 Less than 1 year of cash runway based on free cash flow trend (-JP¥3.1b free cash flow). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Duyuru • Feb 13
ENECHANGE Innovation Limited to Report Q1, 2024 Results on May 10, 2024 ENECHANGE Innovation Limited announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 10
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: JP¥40.91 loss per share (improved from JP¥44.01 loss in FY 2022). Revenue: JP¥6.63b (up 77% from FY 2022). Net loss: JP¥1.25b (loss narrowed 5.2% from FY 2022). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 6.4%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the IT industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Duyuru • Feb 09
ENECHANGE Innovation Limited, Annual General Meeting, Mar 28, 2024 ENECHANGE Innovation Limited, Annual General Meeting, Mar 28, 2024. Duyuru • Dec 28
ENECHANGE Innovation Limited to Report Fiscal Year 2023 Results on Feb 09, 2024 ENECHANGE Innovation Limited announced that they will report fiscal year 2023 results on Feb 09, 2024 Reported Earnings • Nov 11
Third quarter 2023 earnings released: JP¥7.48 loss per share (vs JP¥11.77 loss in 3Q 2022) Third quarter 2023 results: JP¥7.48 loss per share (improved from JP¥11.77 loss in 3Q 2022). Revenue: JP¥1.83b (up 174% from 3Q 2022). Net loss: JP¥229.0m (loss narrowed 35% from 3Q 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the IT industry in Japan. Duyuru • Oct 05
ENECHANGE Innovation Limited Launches New Service, Enechange My Energy, Using Electricity Data from Smart Meters Across Japan ENECHANGE Innovation Limited announce the launch of its new service, "ENECHANGE My Energy". The service is based on electricity data derived from smart meters through the operation of ENECHANGE's Platform business, namely its namesake electricity and gas comparison website. The system will be linked with each of the major energy companies, and the data will be available nationwide by the end of 2024. Initially, daily and monthly historical data will be provided, with real-time data to be provided from 2025. The usage of electricity data is expected to create new business opportunities, support disaster relief efforts, prevent fraud, and support social causes such as monitoring elderly and vulnerable consumers. It call this opening 'electricity data liberalization' and have been making preparations with industry associations and relevant parties for the usage of electricity data. New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% 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 Less than 1 year of cash runway based on free cash flow trend (-JP¥3.1b free cash flow). 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 (2.4% increase in shares outstanding). Duyuru • Aug 14
ENECHANGE Innovation Limited to Report Q3, 2023 Results on Nov 10, 2023 ENECHANGE Innovation Limited announced that they will report Q3, 2023 results on Nov 10, 2023 Reported Earnings • Aug 12
Second quarter 2023 earnings released: JP¥24.04 loss per share (vs JP¥8.65 loss in 2Q 2022) Second quarter 2023 results: JP¥24.04 loss per share (further deteriorated from JP¥8.65 loss in 2Q 2022). Revenue: JP¥1.03b (down 1.8% from 2Q 2022). Net loss: JP¥728.0m (loss widened 182% from 2Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Japan. Board Change • Jun 12
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. Independent Outside Director Kenichi Fujita is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • May 15
ENECHANGE Ltd. to Report Q2, 2023 Results on Aug 10, 2023 ENECHANGE Ltd. announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • Feb 12
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: JP¥44.01 loss per share (further deteriorated from JP¥3.23 loss in FY 2021). Revenue: JP¥3.73b (up 24% from FY 2021). Net loss: JP¥1.32b (loss widened JP¥1.23b from FY 2021). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the IT industry in Japan. Duyuru • Feb 11
ENECHANGE Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2023 ENECHANGE Ltd. provided earnings guidance for the fiscal year ending December 31, 2023. For the year ending December 31, 2023, the company expected net sales of JPY 5,250 million, ordinary loss of JPY 900 million. Duyuru • Dec 24
ENECHANGE Ltd. to Report Fiscal Year 2022 Results on Feb 10, 2023 ENECHANGE Ltd. announced that they will report fiscal year 2022 results on Feb 10, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: JP¥11.75 loss per share (vs JP¥1.65 profit in 3Q 2021) Third quarter 2022 results: JP¥11.75 loss per share (down from JP¥1.65 profit in 3Q 2021). Revenue: JP¥669.0m (down 16% from 3Q 2021). Net loss: JP¥352.4m (down JP¥397.4m from profit in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan. Reported Earnings • Nov 13
Third quarter 2022 earnings released: JP¥11.77 loss per share (vs JP¥1.65 profit in 3Q 2021) Third quarter 2022 results: JP¥11.77 loss per share (down from JP¥1.65 profit in 3Q 2021). Revenue: JP¥669.0m (down 16% from 3Q 2021). Net loss: JP¥353.0m (down JP¥398.0m from profit in 3Q 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the IT industry in Japan. Duyuru • Nov 12
ENECHANGE Ltd. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2022 ENECHANGE Ltd. provided consolidated earnings guidance for the year ending December 31, 2022. For this period, the company expects net sales of ¥3,400 million, Operating loss of ¥1,000 million. Duyuru • Oct 01
ENECHANGE Ltd. (TSE:4169) agreed to acquire EVsmart business of Ayudante, Inc. from Ayudante, Inc. ENECHANGE Ltd. (TSE:4169) agreed to acquire EVsmart business of Ayudante, Inc. from Ayudante, Inc. on September 30, 2022. Transaction is expected to be completed on October, 31, 2022. Duyuru • Sep 24
ENECHANGE Ltd. to Report Q3, 2022 Results on Nov 11, 2022 ENECHANGE Ltd. announced that they will report Q3, 2022 results on Nov 11, 2022 Reported Earnings • Aug 14
Second quarter 2022 earnings released: JP¥8.65 loss per share (vs JP¥1.65 profit in 2Q 2021) Second quarter 2022 results: JP¥8.65 loss per share (down from JP¥1.65 profit in 2Q 2021). Revenue: JP¥1.05b (up 31% from 2Q 2021). Net loss: JP¥258.0m (down JP¥303.0m from profit in 2Q 2021). Over the next year, revenue is forecast to grow 7.6%, compared to a 11% growth forecast for the industry in Japan. Duyuru • Aug 12
ENECHANGE Ltd. Announces Installed One Regular Charger with Two Ports as Part of its Enechange EV Charging Service ENECHANGE Ltd. announced that it has installed one regular charger with two ports as part of its ENECHANGE EV Charging Service, which allows charging on a pay-as-you-go basis, at Kusatsu Onsen-ryokan Eidaya (Gunma Prefecture). This is the first installation in Gunma. The ENECHANGE EV Charging Service focuses on destination charging: charging at locations where drivers may spend several hours and want to have a top-up charge, such as golf courses and other leisure facilities, as well as universities and other educational facilities. Kusatsu Onsen-ryokan Eidaya, which has recently introduced the ENECHANGE EV Charge, is a hot spring inn that opened in August 2016 after renovating a 50+ year old therapeutic bathhouse. In recent years, the number of guests travelling here by EV has been increasing, and the inn has often received requests to charge their vehicles, which led to the introduction of the system. The "ENECHANGE EV Charge" is open not only to guests of the inn but also to Kusatsu Onsen tourists, and Eidaya hopes to make Kusatsu Onsen a more convenient place for tourists to charge their EVs. The number of EVs and PHVs per 10,000 people in Gunma Prefecture is 25.3, ranking 13th in Japan. Calculated by ENECHANGE based on the Next Generation Vehicle Promotion Center's "Subsidy Grant Status by Prefecture," the number of EV and PHV subsidies granted (FY 2009-2020), and population estimates for October 2020. The ENECHANGE EV Charging service allows installation of EV charging facilities at minimal upfront cost, making it ideal for charging at public locations such as commercial facilities, lodging facilities, and other public destinations. To improve convenience for EV drivers, promote the development of domestic EV charging infrastructure by providing EV charger hardware, applications for users, and charging management systems for site hosts. Duyuru • Aug 07
Enechange Ltd. Provides Earnings Guidance for the Period Fiscal Year December 31, 2022 ENECHANGE Ltd. provided earnings guidance for the period fiscal year December 31, 2022. For the period, The company expects net sales of JPY 3,400 million, Operating loss of JPY 1,000 million. Duyuru • Jun 25
ENECHANGE Ltd. to Report Q2, 2022 Results on Aug 12, 2022 ENECHANGE Ltd. announced that they will report Q2, 2022 results on Aug 12, 2022 Duyuru • Jun 11
Enechange Ltd. Announces Notice of Installation of Ev Charging Service (Abba Resorts Izu Zagyoso) ENECHANGE Ltd. announced that it has installed one regular chone regular charger with two ports as part of its ENECHANGE EV Charging Service, which allows charging on a pay-as-you-go basis, at ABBA RESORTS IZU Zagyoso (Izu City, Shizuoka Prefecture). This is the first installation in Izu City, Shizuoka. The ENECHANGE EV Charging Service focuses on destination charging: charging at locations where drivers may spend several hours and want to have a top-up charge, such as golf courses and other leisure facilities, as well as universities and other educational facilities. ABBA RESORTS IZU Zaiyoso is a ryokan, or Japanese-style inn, located in the Izu Kogen villa area, and has installed an ENECHANGE EV charging station in its parking lot in anticipation of an increase in EV users in the future. The EV charging stations are open not only to guests of the ryokan but also to the general public, and are therefore expected to play a role in contributing to the local community. The number of EVs and PHVs per 10,000 people in Shizuoka Prefecture is 24.4, ranking 13th in Japan. anticipate that this will help enhance convenience for EV drivers by allowing them to use the time they spend at the ryokan as a chance to charge, as well as improving convenience for local EV drivers. The ENECHANGE EV Charging Service focuses on destination charging: charging at locations where drivers may spend several hours and want to have a top-up charge, such as golf courses and other leisure facilities, as well as universities and other educational facilities. ABBA RESORTS IZU Zaiyoso is a ryokan, or Japanese-style inn, located in the Izu Kogen villa area, and has installed an ENECHANGE EV charging station in its parking lot in anticipation of an increase in EV users in the future. The EV charging stations are open not only to guests of the ryokan but also to the general public, and are therefore expected to play a role in contributing to the local community. The number of EVs and PHVs per 10,000 people in Shizuoka Prefecture is 24.4, ranking 13th in Japan. anticipate that this will help enhance convenience for EV drivers by allowing them to use the time they spend at the ryokan as a chance to charge, as well as improving convenience for local EV drivers. Duyuru • May 21
Enechange Ltd. Announces that EV Charging Stations Installed at Golf Course in Chiba Prefecture ENECHANGE Ltd. announced that it has installed two regular chargers as part of the ENECHANGE EV Charging Service, which allows visitors to the Yonehara Golf Club (located in Ichikawa City, Chiba Prefecture) to charge their batteries on a use-by-use basis without monthly fees. This is the first installation in Chiba Prefecture. Background and Objectives: The ENECHANGE EV Charging Service focuses on destination charging: charging at locations where drivers may spend several hours and want to have a top-up charge, such as at golf courses and other leisure facilities. Moreover, the Yonehara Golf Club endorses the "Waste Plastic Reduction Campaign" of the Japan Golf Congress Summit, which was formed by 15 golf-related organizations across Japan, and is working to contribute to environmental sustainability and social contribution activities by discontinuing the provision of disposable plastic products. The golf course has introduced the ENECHANGE EV Charging Service with the aim of making it a new choice for environmentally conscious players who are also EV or PHV drivers. The number of EVs and PHVs per 10,000 people in Chiba Prefecture is 14.6, ranking 39th in Japan. The company anticipates that this will help enhance convenience for EV drivers by allowing them to use the time they spend at the municipal office or by taking a trip to the adjacent park as a chance to charge. The company will continue to strengthen partnership with Ecolocity and promote the installation of the system in coin-operated parking lots and parking garages. ENECHANGE EV Charging Service does not require prior membership registration. Scan the QR code on the main body of the ENECHANGE EV charging station with smartphone camera to register credit card information and user information. Follow the instructions displayed on the web version (to be replaced by an app this summer) to connect the charger. Users can see the start of charging and the status during charging, while the end of the charging session will be notified by push notification. Duyuru • May 12
Enechange Ltd. Announces That Enechange Ev Charging Stations Installed At Two Ecolo Park Coin-Operated Parking Facilities At Osaka Prefectural Government Offices ENECHANGE Ltd. announced that it has installed a total of 4 charging stations as part of the ENECHANGE EV Charging Service, two each at two new Ecolo Park coin-operated parking lots at the Osaka Prefectural Government offices. The sites are operated by Ecolocity Co., Ltd, a parking lot and coin-operated parking lot operator. This is the first installation of this service in Osaka Prefecture. Municipal facilities with a highly public nature, such as the Osaka Prefectural Government, are very suitable locations for EV charging stations because of the large number of people who visit them. Scan the QR code on the main body of the ENECHANGE EV charging station with smartphone camera to register credit card information and user information. Follow the instructions displayed on the web version (to be replaced by an app in the future) to connect the charger. Users can see the start of charging and the status during charging, while the end of the charging session will be notified by push notification. Duyuru • Apr 08
ENECHANGE Ltd. to Report Q1, 2022 Results on May 13, 2022 ENECHANGE Ltd. announced that they will report Q1, 2022 results on May 13, 2022 Duyuru • Feb 13
ENECHANGE Ltd. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022 ENECHANGE Ltd. provided earnings guidance for the fiscal year ending December 31, 2022. For the full Fiscal Year, the company expects net sales of JPY 4,000 million and operating loss of JPY 1,500 million. Breakeven Date Change • Feb 12
Forecast breakeven date moved forward to 2022 The analyst covering ENECHANGE previously expected the company to break even in 2023. New forecast suggests the company will make a profit of JP¥400.0m in 2022. Earnings growth of 95% is required to achieve expected profit on schedule. Duyuru • Feb 11
ENECHANGE Ltd., Annual General Meeting, Mar 30, 2022 ENECHANGE Ltd., Annual General Meeting, Mar 30, 2022. Duyuru • Jan 22
ENECHANGE Ltd. Announces Earnings Guidance for the Fiscal Year Ended December 31, 2021 ENECHANGE Ltd. announced earnings guidance for the fiscal year ended December 31, 2021. For the full Fiscal Year, the company expects sales of JPY 3,018 million against previous guidance of JPY 2,900 million, Operating income of JPY 40 million against previous guidance of JPY 5 million, Loss attributable to owners of parent of JPY 83 million against previous guidance of JPY 100 million and net loss per share of JPY 6.36 against previous guidance of JPY 7.74. Duyuru • Nov 27
ENECHANGE Ltd. Provides Earnings Guidance for the Year Ending December 31, 2021 ENECHANGE Ltd. revised earnings guidance for the year ending December 31, 2021. For the year, the company revised net sales of JPY 2,900 million compared to previous forecast of JPY 2,600 million. operating profit of JPY 5 million. loss attributable to owners of parent of JPY 100 million or JPY 3.87. Duyuru • Jun 18
Enechange to Start the New Service in EV Field with the Provision of Boost Chargertm ENECHANGE will start the new service in EV field with the provision of Boost ChargerTM developed by Freewire Inc. and related software services in Japan from June 21, 2021. In addition to selling the Boost ChargerTM, the Company will provide related software services. The charging stations of the Boost ChargerTM can be operated from the EV station owner's My Page or app. In the future, the Company will also propose optimal rate plans based on the operating status of the EV
stations and provide the Dynamic Pricing System, an automatic rate setting system that sets the unit price of electricity in conjunction with the market price of the Japan Electric Power Exchange (JEPX). This system is expected to reduce the load on the power system by spreading out the timing of recharging, thereby allowing customers to enjoy the benefits of recharging during times when electricity rates are low. Duyuru • May 25
Enechange Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2021 ENECHANGE Ltd. revised consolidated earnings guidance for the fiscal year ending December 31, 2021. For the year, the company expects net sales of JPY 2,600 million as previously forecast of JPY 2,300. Duyuru • May 16
ENECHANGE Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2021 ENECHANGE Ltd. provided consolidated earnings guidance for the fiscal year ending December 31, 2021. For the year, the company expects net sales of JPY 2,300 million. Reported Earnings • Apr 04
Full year 2020 earnings released: JP¥2.96 loss per share (vs JP¥45.33 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: JP¥1.71b (up 35% from FY 2019). Net loss: JP¥16.0m (loss narrowed 93% from FY 2019). Duyuru • Mar 21
ENECHANGE Ltd. (TSE:4169) agreed to acquire remaining 19.8% stake in SMAP Energy Limited from Cambridge Enterprise Limited, Paul Monroe and others. ENECHANGE Ltd. (TSE:4169) agreed to acquire remaining 19.8% stake in SMAP Energy Limited from Cambridge Enterprise Limited, Paul Monroe and others on March 19, 2021. As part of the transaction, ENECHANGE will purchase 330 shares and 360 stock acquisition rights. Post the transaction, SMAP Energy Limited will become wholly owned subsidiary of ENECHANGE. SMAP Energy generated net assets of -¥0.3 million, total assets of ¥1.1 million, sales of ¥1.7 million, net income of ¥64.4 million and operating income of ¥0.2 million for the year ending December 2020. The Board of Directors of ENECHANGE Ltd. resolved the transaction. The transaction is expected to close on March 31, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: JP¥2.96 loss per share (vs JP¥45.33 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: JP¥1.71b (up 35% from FY 2019). Net loss: JP¥16.0m (loss narrowed 93% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 48%. Over the next year, revenue is forecast to grow 34%, compared to a 8.8% growth forecast for the IT industry in Japan. Duyuru • Feb 12
ENECHANGE Ltd., Annual General Meeting, Mar 30, 2021 ENECHANGE Ltd., Annual General Meeting, Mar 30, 2021. Duyuru • Dec 30
ENECHANGE Ltd. to Report Fiscal Year 2020 Results on Feb 12, 2021 ENECHANGE Ltd. announced that they will report fiscal year 2020 results on Feb 12, 2021 Duyuru • Dec 25
ENECHANGE Ltd. has completed an IPO in the amount of ¥228 million. ENECHANGE Ltd. has completed an IPO in the amount of ¥228 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 380,000
Price\Range: ¥600
Discount Per Security: ¥48