Announcement • May 09
Central Security Patrols Co., Ltd. to Report Q1, 2027 Results on Jul 07, 2026 Central Security Patrols Co., Ltd. announced that they will report Q1, 2027 results at 9:00 AM, Tokyo Standard Time on Jul 07, 2026 Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 31% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate fell from JP¥218 to JP¥151 per share. Revenue forecast steady at JP¥79.4b. Net income forecast to shrink 15% next year vs 13% growth forecast for Commercial Services industry in Japan . Consensus price target of JP¥3,105 unchanged from last update. Share price fell 3.3% to JP¥2,839 over the past week. Reported Earnings • Apr 14
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥175 (down from JP¥222 in FY 2025). Revenue: JP¥78.7b (up 10% from FY 2025). Net income: JP¥2.50b (down 23% from FY 2025). Profit margin: 3.2% (down from 4.5% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 13
Central Security Patrols Co., Ltd., Annual General Meeting, May 28, 2026 Central Security Patrols Co., Ltd., Annual General Meeting, May 28, 2026. Announcement • Apr 03
Central Security Patrols Co., Ltd. to Report Fiscal Year 2026 Results on Apr 13, 2026 Central Security Patrols Co., Ltd. announced that they will report fiscal year 2026 results on Apr 13, 2026 Upcoming Dividend • Feb 19
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 01 June 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.0%). Reported Earnings • Jan 10
Third quarter 2026 earnings released: EPS: JP¥32.70 (vs JP¥31.19 in 3Q 2025) Third quarter 2026 results: EPS: JP¥32.70 (up from JP¥31.19 in 3Q 2025). Revenue: JP¥19.0b (up 8.2% from 3Q 2025). Net income: JP¥468.0m (up 3.3% from 3Q 2025). Profit margin: 2.5% (in line with 3Q 2025). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. New Risk • Dec 16
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 5.5% 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 are forecast to decline by an average of 0.04% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.5% average weekly change). Declared Dividend • Nov 07
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 26th February 2026 Payment date: 1st June 2026 Dividend yield will be 2.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.3% over the next 3 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. Announcement • Oct 25
Central Security Patrols Co., Ltd. to Report Q3, 2026 Results on Jan 09, 2026 Central Security Patrols Co., Ltd. announced that they will report Q3, 2026 results on Jan 09, 2026 Reported Earnings • Oct 10
Second quarter 2026 earnings released: EPS: JP¥33.67 (vs JP¥64.38 in 2Q 2025) Second quarter 2026 results: EPS: JP¥33.67 (down from JP¥64.38 in 2Q 2025). Revenue: JP¥18.5b (up 7.1% from 2Q 2025). Net income: JP¥487.0m (down 48% from 2Q 2025). Profit margin: 2.6% (down from 5.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 07 November 2025. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Price Target Changed • Aug 02
Price target decreased by 8.9% to JP¥2,825 Down from JP¥3,100, the current price target is an average from 2 analysts. New target price is 17% above last closing price of JP¥2,418. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of JP¥205 for next year compared to JP¥222 last year. Reported Earnings • Jul 10
First quarter 2026 earnings released: EPS: JP¥83.68 (vs JP¥60.32 in 1Q 2025) First quarter 2026 results: EPS: JP¥83.68 (up from JP¥60.32 in 1Q 2025). Revenue: JP¥20.2b (up 16% from 1Q 2025). Net income: JP¥1.21b (up 38% from 1Q 2025). Profit margin: 6.0% (up from 5.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 18
Final dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 28th August 2025 Payment date: 7th November 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (dividend approximately 14x free cash flows). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 9.4% over the next 3 years. However, it would need to fall by 70% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 04
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥222 (down from JP¥369 in FY 2024). Revenue: JP¥71.4b (up 5.0% from FY 2024). Net income: JP¥3.23b (down 40% from FY 2024). Profit margin: 4.5% (down from 7.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Apr 12
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥222 (down from JP¥369 in FY 2024). Revenue: JP¥71.4b (up 5.0% from FY 2024). Net income: JP¥3.23b (down 40% from FY 2024). Profit margin: 4.5% (down from 7.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. Announcement • Apr 11
Central Security Patrols Co., Ltd., Annual General Meeting, May 29, 2025 Central Security Patrols Co., Ltd., Annual General Meeting, May 29, 2025. Announcement • Apr 08
Central Security Patrols Co., Ltd. (TSE:9740) agreed to acquire Nihon Rengo Keibi K.K. from HACK JAPAN Holdings Co., Ltd. and others. Central Security Patrols Co., Ltd. (TSE:9740) agreed to acquire Nihon Rengo Keibi K.K. from HACK JAPAN Holdings Co., Ltd. and others on April 3, 2025.
For the period ending May 31, 2024, Nihon Rengo Keibi K.K. reported total revenue of ¥1.44 billion. As of May 31, 2024, Nihon Rengo Keibi K.K. reported total assets of ¥2.34 billion and total common equity of ¥1.01 billion. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 02 June 2025. Payout ratio is a comfortable 20% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.1%). Announcement • Feb 03
Central Security Patrols Co., Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2025 Central Security Patrols Co., Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2025 Reported Earnings • Jan 15
Third quarter 2025 earnings released: EPS: JP¥31.19 (vs JP¥43.99 in 3Q 2024) Third quarter 2025 results: EPS: JP¥31.19 (down from JP¥43.99 in 3Q 2024). Revenue: JP¥17.6b (up 7.2% from 3Q 2024). Net income: JP¥453.0m (down 29% from 3Q 2024). Profit margin: 2.6% (down from 3.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Declared Dividend • Nov 08
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 27th February 2025 Payment date: 2nd June 2025 Dividend yield will be 2.1%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (154% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 03
Price target increased by 7.0% to JP¥3,050 Up from JP¥2,850, the current price target is an average from 2 analysts. New target price is 11% above last closing price of JP¥2,743. Stock is up 6.5% over the past year. The company is forecast to post earnings per share of JP¥208 for next year compared to JP¥369 last year. Announcement • Oct 26
Central Security Patrols Co., Ltd. to Report Q3, 2025 Results on Jan 14, 2025 Central Security Patrols Co., Ltd. announced that they will report Q3, 2025 results on Jan 14, 2025 Reported Earnings • Oct 16
Second quarter 2025 earnings released: EPS: JP¥64.37 (vs JP¥242 in 2Q 2024) Second quarter 2025 results: EPS: JP¥64.37 (down from JP¥242 in 2Q 2024). Revenue: JP¥17.3b (up 8.4% from 2Q 2024). Net income: JP¥939.0m (down 73% from 2Q 2024). Profit margin: 5.4% (down from 22% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Oct 12
Central Security Patrols Co., Ltd. Announces Second Quarter End Dividend for the Year 2025, Payable on November 7, 2024 Central Security Patrols Co., Ltd. announced Second quarter end Dividend for the year 2025. For the period, the company reported dividend of JPY 30.00 per share compared to JPY 30.00 per share a year ago. Payment date is November 7, 2024. Announcement • Oct 11
Central Security Patrols Co., Ltd. (TSE:9740) announces an Equity Buyback for 105,000 shares, representing 0.71% for ¥289.49 million. Central Security Patrols Co., Ltd. (TSE:9740) announces a share repurchase program. Under the program, the company will repurchase up to 105,000 shares, representing 0.71% of its issued share capital (excluding treasury stock), for a total purchase price of ¥289.49 million. The shares will be repurchased at a price of ¥2,757 per share. As of August 31, 2024, the company has 14,816,692 issued shares (excluding treasury stock) and 193,238 treasury shares. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 11 November 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,314, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Japan. Total loss to shareholders of 15% over the past three years. Reported Earnings • Jul 15
First quarter 2025 earnings released: EPS: JP¥60.32 (vs JP¥63.69 in 1Q 2024) First quarter 2025 results: EPS: JP¥60.32 (down from JP¥63.69 in 1Q 2024). Revenue: JP¥17.5b (down 1.4% from 1Q 2024). Net income: JP¥880.0m (down 5.3% from 1Q 2024). Profit margin: 5.0% (down from 5.2% in 1Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 06
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th August 2024 Payment date: 11th November 2024 Dividend yield will be 2.0%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 48% over the next 3 years. However, it would need to fall by 86% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jun 06
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥369 (up from JP¥177 in FY 2023). Revenue: JP¥68.0b (up 4.9% from FY 2023). Net income: JP¥5.38b (up 108% from FY 2023). Profit margin: 7.9% (up from 4.0% in FY 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥369 (up from JP¥177 in FY 2023). Revenue: JP¥68.0b (up 4.9% from FY 2023). Net income: JP¥5.38b (up 108% from FY 2023). Profit margin: 7.9% (up from 4.0% in FY 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 27 May 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.8%). Reported Earnings • Jan 16
Third quarter 2024 earnings released: EPS: JP¥43.99 (vs JP¥37.35 in 3Q 2023) Third quarter 2024 results: EPS: JP¥43.99 (up from JP¥37.35 in 3Q 2023). Revenue: JP¥16.4b (up 2.5% from 3Q 2023). Net income: JP¥642.0m (up 18% from 3Q 2023). Profit margin: 3.9% (up from 3.4% in 3Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Jan 11
Central Security Patrols Co., Ltd. to Report Q3, 2024 Results on Jan 15, 2024 Central Security Patrols Co., Ltd. announced that they will report Q3, 2024 results on Jan 15, 2024 Announcement • Oct 29
Central Security Patrols Co., Ltd. to Report Q3, 2024 Results on Jan 12, 2024 Central Security Patrols Co., Ltd. announced that they will report Q3, 2024 results on Jan 12, 2024 Reported Earnings • Oct 13
Second quarter 2024 earnings released: EPS: JP¥242 (vs JP¥40.10 in 2Q 2023) Second quarter 2024 results: EPS: JP¥242 (up from JP¥40.10 in 2Q 2023). Revenue: JP¥16.0b (up 2.5% from 2Q 2023). Net income: JP¥3.53b (up JP¥2.95b from 2Q 2023). Profit margin: 22% (up from 3.8% in 2Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 04
Now 22% undervalued Over the last 90 days, the stock is up 1.3%. The fair value is estimated to be JP¥3,780, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.7%. Revenue is forecast to grow by 6.5% in 2 years. Earnings is forecast to grow by 9.3% in the next 2 years. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥30.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 25 October 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.9%). Announcement • Aug 03
Central Security Patrols Co., Ltd. to Report Q2, 2024 Results on Oct 12, 2023 Central Security Patrols Co., Ltd. announced that they will report Q2, 2024 results on Oct 12, 2023 Major Estimate Revision • Jul 27
Consensus EPS estimates increase by 35% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥296 to JP¥399. Revenue forecast steady at JP¥67.9b. Net income forecast to grow 82% next year vs 8.5% growth forecast for Commercial Services industry in Japan. Consensus price target up from JP¥2,950 to JP¥3,100. Share price was steady at JP¥2,881 over the past week. Reported Earnings • Jul 16
First quarter 2024 earnings released: EPS: JP¥63.68 (vs JP¥45.72 in 1Q 2023) First quarter 2024 results: EPS: JP¥63.68 (up from JP¥45.72 in 1Q 2023). Revenue: JP¥17.7b (up 9.1% from 1Q 2023). Net income: JP¥929.0m (up 39% from 1Q 2023). Profit margin: 5.2% (up from 4.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • May 30
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥177 (down from JP¥251 in FY 2022). Revenue: JP¥64.8b (down 6.1% from FY 2022). Net income: JP¥2.59b (down 30% from FY 2022). Profit margin: 4.0% (down from 5.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 13
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥177 (down from JP¥251 in FY 2022). Revenue: JP¥64.8b (down 6.1% from FY 2022). Net income: JP¥2.59b (down 30% from FY 2022). Profit margin: 4.0% (down from 5.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥25.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.2%). Announcement • Jan 31
Central Security Patrols Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2023 Central Security Patrols Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2023 Reported Earnings • Jan 13
Third quarter 2023 earnings released: EPS: JP¥37.35 (vs JP¥43.73 in 3Q 2022) Third quarter 2023 results: EPS: JP¥37.35 (down from JP¥43.73 in 3Q 2022). Revenue: JP¥16.0b (down 3.2% from 3Q 2022). Net income: JP¥545.0m (down 15% from 3Q 2022). Profit margin: 3.4% (down from 3.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services industry in Japan. 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 29% per year, which means it is significantly lagging earnings. Announcement • Nov 23
Central Security Patrols Co., Ltd. to Report Q3, 2023 Results on Jan 12, 2023 Central Security Patrols Co., Ltd. announced that they will report Q3, 2023 results on Jan 12, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Mami Karatsu 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 • Oct 13
Second quarter 2023 earnings released: EPS: JP¥40.09 (vs JP¥71.70 in 2Q 2022) Second quarter 2023 results: EPS: JP¥40.09 (down from JP¥71.70 in 2Q 2022). Revenue: JP¥15.6b (down 10% from 2Q 2022). Net income: JP¥585.0m (down 44% from 2Q 2022). Profit margin: 3.8% (down from 6.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services 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 27% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.2%). Reported Earnings • Jul 13
First quarter 2023 earnings released: EPS: JP¥45.72 (vs JP¥71.08 in 1Q 2022) First quarter 2023 results: EPS: JP¥45.72 (down from JP¥71.08 in 1Q 2022). Revenue: JP¥16.3b (down 4.8% from 1Q 2022). Net income: JP¥667.0m (down 36% from 1Q 2022). Profit margin: 4.1% (down from 6.1% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to stay flat compared to a 4.8% growth forecast for the industry in Japan. 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. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥2,769, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Commercial Services industry in Japan. Total loss to shareholders of 44% over the past three years. Reported Earnings • Jun 02
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥251 (up from JP¥214 in FY 2021). Revenue: JP¥69.1b (up 2.4% from FY 2021). Net income: JP¥3.67b (up 17% from FY 2021). Profit margin: 5.3% (up from 4.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to stay flat compared to a 3.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to JP¥3,000 Down from JP¥3,850, the current price target is an average from 2 analysts. New target price is 46% above last closing price of JP¥2,057. Stock is down 32% over the past year. The company is forecast to post earnings per share of JP¥228 for next year compared to JP¥251 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Mami Karatsu 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 • Apr 14
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥251 (up from JP¥214 in FY 2021). Revenue: JP¥69.1b (up 2.4% from FY 2021). Net income: JP¥3.67b (up 17% from FY 2021). Profit margin: 5.3% (up from 4.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to stay flat compared to a 2.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 18
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 28 May 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.1%). Price Target Changed • Jan 19
Price target decreased to JP¥3,250 Down from JP¥3,925, the current price target is an average from 2 analysts. New target price is 49% above last closing price of JP¥2,175. Stock is down 38% over the past year. The company is forecast to post earnings per share of JP¥227 for next year compared to JP¥214 last year. Reported Earnings • Jan 13
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥43.72 (down from JP¥47.78 in 3Q 2021). Revenue: JP¥16.5b (flat on 3Q 2021). Net income: JP¥638.0m (down 8.5% from 3Q 2021). Profit margin: 3.9% (down from 4.2% in 3Q 2021). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 1.6%, compared to a 3.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 13
Second quarter 2022 earnings released: EPS JP¥71.69 (vs JP¥52.57 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥17.4b (up 5.5% from 2Q 2021). Net income: JP¥1.05b (up 36% from 2Q 2021). Profit margin: 6.0% (up from 4.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 27 October 2021. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (2.0%). Reported Earnings • Jul 15
First quarter 2022 earnings released: EPS JP¥71.08 (vs JP¥70.19 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥17.1b (down 2.1% from 1Q 2021). Net income: JP¥1.04b (up 1.3% from 1Q 2021). Profit margin: 6.1% (up from 5.9% in 1Q 2021). The increase in margin was driven by lower expenses. 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 13% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
Full year 2021 earnings released: EPS JP¥214 (vs JP¥197 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥67.4b (flat on FY 2020). Net income: JP¥3.13b (up 9.0% from FY 2020). Profit margin: 4.6% (up from 4.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 16
Full year 2021 earnings released: EPS JP¥214 (vs JP¥197 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥67.4b (flat on FY 2020). Net income: JP¥3.13b (up 9.0% from FY 2020). Profit margin: 4.6% (up from 4.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 14
Central Security Patrols Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending August 2021 and Fiscal Year Ending February 28, 2022 Central Security Patrols Co., Ltd. provided consolidated earnings guidance for the six months ending August 2021 and fiscal year ending February 28, 2022. For the six months, the company expects net sales to be JPY 35,000 million. Operating income to be JPY 2,650 million. Ordinary income to be JPY 2,900 million. Net income attributable to owners of parent to be JPY 2,000 million. Net income per share to be JPY 137.08 per share.
For the fiscal year, the company expects net sales to be JPY 69,000 million. Operating income to be JPY 4,670 million. Ordinary income to be JPY 5,000 million. Net income attributable to owners of parent to be JPY 3,200 million. Net income per share to be JPY 219.33 per share. Upcoming Dividend • Feb 18
Upcoming Dividend of JP¥20.00 Per Share Will be paid on the 29th of May to those who are registered shareholders by the 25th of February. The trailing yield of 1.1% is below the top quartile of Japanese dividend payers (2.8%), and is lower than industry peers (1.9%). Announcement • Feb 04
Central Security Patrols Co., Ltd. to Report Fiscal Year 2021 Results on Apr 13, 2021 Central Security Patrols Co., Ltd. announced that they will report fiscal year 2021 results on Apr 13, 2021 Price Target Changed • Feb 02
Price target lowered to JP¥4,250 Down from JP¥4,650, the current price target is an average from 2 analysts. The new target price is 28% above the current share price of JP¥3,330. As of last close, the stock is down 45% over the past year. Reported Earnings • Jan 14
Third quarter 2021 earnings released: EPS JP¥47.77 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥16.4b (down 3.8% from 3Q 2020). Net income: JP¥697.0m (up 4.3% from 3Q 2020). Profit margin: 4.2% (up from 3.9% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Central Security Patrols Co., Ltd., Annual General Meeting, May 27, 2021 Central Security Patrols Co., Ltd., Annual General Meeting, May 27, 2021.