New Risk • Jun 19
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 6.8% 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 (6.8% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥6,870, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 220% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,186 per share. Announcement • May 26
Kasumigaseki Capital Co.,Ltd. to Report Q3, 2026 Results on Jul 03, 2026 Kasumigaseki Capital Co.,Ltd. announced that they will report Q3, 2026 results on Jul 03, 2026 Declared Dividend • Apr 04
Dividend of JP¥165 announced Shareholders will receive a dividend of JP¥165. Ex-date: 28th August 2026 Payment date: 30th November 2026 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 75% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 124% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 02
Kasumigaseki Capital Co.,Ltd. to Report Q2, 2026 Results on Apr 02, 2026 Kasumigaseki Capital Co.,Ltd. announced that they will report Q2, 2026 results on Apr 02, 2026 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥8,500, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Real Estate industry in Japan. Total returns to shareholders of 332% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,423 per share. Reported Earnings • Jan 14
First quarter 2026 earnings released: EPS: JP¥98.74 (vs JP¥62.32 in 1Q 2025) First quarter 2026 results: EPS: JP¥98.74 (up from JP¥62.32 in 1Q 2025). Revenue: JP¥28.5b (up 69% from 1Q 2025). Net income: JP¥2.03b (up 66% from 1Q 2025). Profit margin: 7.1% (down from 7.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Announcement • Jan 14
Kasumigaseki Capital Co.,Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending August 31, 2026 Kasumigaseki Capital Co.,Ltd. provided Consolidated earnings guidance for the fiscal year ending August 31, 2026 . For the year, the company expects Net sales of JPY 150,000 million, operating profit of JPY 26,500 million, profit attributable to owners of parent JPY 16,500 million and basic earnings per share of JPY 694.35. New Risk • Dec 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Nov 01
Kasumigaseki Capital Co.,Ltd. to Report Q1, 2026 Results on Jan 13, 2026 Kasumigaseki Capital Co.,Ltd. announced that they will report Q1, 2026 results on Jan 13, 2026 Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥8,420, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Real Estate industry in Japan. Total returns to shareholders of 294% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,790 per share. New Risk • Oct 27
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 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 13x cash flows per share). Announcement • Oct 24
Kasumigaseki Capital Co.,Ltd. has filed a Follow-on Equity Offering. Kasumigaseki Capital Co.,Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,610,000 Price Target Changed • Oct 20
Price target increased by 17% to JP¥12,667 Up from JP¥10,833, the current price target is an average from 3 analysts. New target price is 39% above last closing price of JP¥9,090. Stock is up 22% over the past year. The company is forecast to post earnings per share of JP¥788 for next year compared to JP¥520 last year. Reported Earnings • Oct 03
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥1,041 (up from JP¥271 in FY 2024). Revenue: JP¥96.5b (up 47% from FY 2024). Net income: JP¥10.3b (up 104% from FY 2024). Profit margin: 11% (up from 7.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.1%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Real Estate 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 only increased by 66% per year, which means it is significantly lagging earnings growth. New Risk • Aug 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Announcement • Aug 26
Kasumigaseki Capital Co.,Ltd. to Report Fiscal Year 2025 Results on Oct 02, 2025 Kasumigaseki Capital Co.,Ltd. announced that they will report fiscal year 2025 results on Oct 02, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of JP¥240 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥17,160, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 597% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,340 per share. Reported Earnings • Jul 04
Third quarter 2025 earnings released: EPS: JP¥162 (vs JP¥136 in 3Q 2024) Third quarter 2025 results: EPS: JP¥162 (up from JP¥136 in 3Q 2024). Revenue: JP¥16.8b (up 32% from 3Q 2024). Net income: JP¥1.60b (up 20% from 3Q 2024). Profit margin: 9.5% (in line with 3Q 2024). Revenue is forecast to grow 28% during the next year, compared to a 4.4% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 04
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to JP¥16,140. The fair value is estimated to be JP¥12,431, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Earnings per share has grown by 59%. For the next 3 years, revenue is forecast to grow by 26% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Announcement • Jul 03
Kasumigaseki Capital Co.,Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending August 31, 2025 Kasumigaseki Capital Co.,Ltd. provided Consolidated earnings guidance for the fiscal year ending August 31, 2025 (from September 1, 2024 to August 31,2025). For the year, the company expects Net sales of JPY 95,000 million, operating profit of JPY 16,500 million, profit attributable to owners of parent JPY 10,000 million and basic earnings per share of JPY 1,014.11. Announcement • May 21
Kasumigaseki Capital Co.,Ltd. to Report Q3, 2025 Results on Jul 03, 2025 Kasumigaseki Capital Co.,Ltd. announced that they will report Q3, 2025 results on Jul 03, 2025 Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥12,450, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 455% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,473 per share. New Risk • Apr 08
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 8.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.7% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Buy Or Sell Opportunity • Apr 08
Now 31% overvalued Over the last 90 days, the stock has fallen 23% to JP¥11,090. The fair value is estimated to be JP¥8,492, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Earnings per share has grown by 59%. For the next 3 years, revenue is forecast to grow by 31% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Declared Dividend • Apr 07
Dividend of JP¥240 announced Shareholders will receive a dividend of JP¥240. Ex-date: 28th August 2025 Payment date: 1st December 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 121% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 156% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 04
Second quarter 2025 earnings released: EPS: JP¥45.82 (vs JP¥115 in 2Q 2024) Second quarter 2025 results: EPS: JP¥45.82 (down from JP¥115 in 2Q 2024). Revenue: JP¥18.5b (up 112% from 2Q 2024). Net income: JP¥451.0m (down 58% from 2Q 2024). Profit margin: 2.4% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
Kasumigaseki Capital Co.,Ltd. to Report Q2, 2025 Results on Apr 03, 2025 Kasumigaseki Capital Co.,Ltd. announced that they will report Q2, 2025 results on Apr 03, 2025 Reported Earnings • Jan 15
First quarter 2025 earnings released: EPS: JP¥203 (vs JP¥27.40 in 1Q 2024) First quarter 2025 results: EPS: JP¥203 (up from JP¥27.40 in 1Q 2024). Revenue: JP¥15.3b (up 26% from 1Q 2024). Net income: JP¥2.00b (up JP¥1.78b from 1Q 2024). Profit margin: 13% (up from 1.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Dec 24
Price target decreased by 9.3% to JP¥22,000 Down from JP¥24,250, the current price target is an average from 2 analysts. New target price is 74% above last closing price of JP¥12,680. Stock is up 41% over the past year. The company is forecast to post earnings per share of JP¥1,000 for next year compared to JP¥542 last year. Buy Or Sell Opportunity • Nov 07
Now 24% undervalued Over the last 90 days, the stock has risen 20% to JP¥14,300. The fair value is estimated to be JP¥18,850, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has grown by 56%. For the next 3 years, revenue is forecast to grow by 32% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Announcement • Oct 29
Kasumigaseki Capital Co.,Ltd. to Report Q1, 2025 Results on Jan 14, 2025 Kasumigaseki Capital Co.,Ltd. announced that they will report Q1, 2025 results on Jan 14, 2025 Buy Or Sell Opportunity • Oct 18
Now 22% undervalued Over the last 90 days, the stock has risen 12% to JP¥14,940. The fair value is estimated to be JP¥19,259, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has grown by 56%. For the next 3 years, revenue is forecast to grow by 33% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Reported Earnings • Oct 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥542 (up from JP¥253 in FY 2023). Revenue: JP¥65.7b (up 76% from FY 2023). Net income: JP¥5.02b (up 145% from FY 2023). Profit margin: 7.6% (up from 5.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 02
Kasumigaseki Capital Co.,Ltd., Annual General Meeting, Nov 28, 2024 Kasumigaseki Capital Co.,Ltd., Annual General Meeting, Nov 28, 2024. Announcement • Aug 23
Kasumigaseki Capital Co.,Ltd. to Report Fiscal Year 2024 Results on Oct 02, 2024 Kasumigaseki Capital Co.,Ltd. announced that they will report fiscal year 2024 results on Oct 02, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of JP¥170 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥13,860, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Real Estate industry in Japan. Total returns to shareholders of 615% over the past three years. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥11,520, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 505% over the past three years. Reported Earnings • Jul 05
Third quarter 2024 earnings released: EPS: JP¥136 (vs JP¥33.33 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥136 (up from JP¥33.33 loss in 3Q 2023). Revenue: JP¥12.8b (up JP¥10.8b from 3Q 2023). Net income: JP¥1.34b (up JP¥1.61b from 3Q 2023). Profit margin: 10% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 103% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥16,210, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 12x in the Real Estate industry in Japan. Total returns to shareholders of 790% over the past three years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥18,420, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Real Estate industry in Japan. Total returns to shareholders of 724% over the past three years. Announcement • May 03
Kasumigaseki Capital Co.,Ltd. to Report Q3, 2024 Results on Jul 02, 2024 Kasumigaseki Capital Co.,Ltd. announced that they will report Q3, 2024 results on Jul 02, 2024 Reported Earnings • Apr 03
Second quarter 2024 earnings released: EPS: JP¥115 (vs JP¥81.63 in 2Q 2023) Second quarter 2024 results: EPS: JP¥115 (up from JP¥81.63 in 2Q 2023). Revenue: JP¥8.72b (down 3.2% from 2Q 2023). Net income: JP¥1.07b (up 62% from 2Q 2023). Profit margin: 12% (up from 7.3% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to JP¥16,280, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 13x in the Real Estate industry in Japan. Total returns to shareholders of 716% over the past three years. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥13,310, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Real Estate industry in Japan. Total returns to shareholders of 618% over the past three years. Announcement • Feb 15
Kasumigaseki Capital Co.,Ltd. to Report Q2, 2024 Results on Apr 02, 2024 Kasumigaseki Capital Co.,Ltd. announced that they will report Q2, 2024 results on Apr 02, 2024 Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥10,740, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Renewable Energy industry in Japan. Total returns to shareholders of 456% over the past three years. Reported Earnings • Jan 14
First quarter 2024 earnings released: EPS: JP¥27.40 (vs JP¥19.37 in 1Q 2023) First quarter 2024 results: EPS: JP¥27.40 (up from JP¥19.37 in 1Q 2023). Revenue: JP¥12.1b (up 62% from 1Q 2023). Net income: JP¥224.0m (up 45% from 1Q 2023). Profit margin: 1.9% (down from 2.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Renewable Energy industry in Japan. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥8,800, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Renewable Energy industry in Japan. Total returns to shareholders of 432% over the past three years. Reported Earnings • Dec 05
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥253 (up from JP¥133 in FY 2022). Revenue: JP¥37.3b (up 79% from FY 2022). Net income: JP¥2.05b (up 101% from FY 2022). Profit margin: 5.5% (up from 4.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Renewable Energy industry in Japan. Over the last 3 years on average, earnings per share has increased by 77% per year whereas the company’s share price has increased by 73% per year. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥9,190, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Renewable Energy industry in Japan. Total returns to shareholders of 410% over the past three years. New Risk • Nov 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (37% accrual ratio). Minor Risk Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Announcement • Nov 15
Kasumigaseki Capital Co.,Ltd. to Report Q1, 2024 Results on Jan 12, 2024 Kasumigaseki Capital Co.,Ltd. announced that they will report Q1, 2024 results on Jan 12, 2024 Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥8,070, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Renewable Energy industry in Japan. Total returns to shareholders of 387% over the past three years. Major Estimate Revision • Oct 12
Consensus revenue estimates increase by 77% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥33.2b to JP¥58.7b. EPS estimate increased from JP¥318 to JP¥614 per share. Net income forecast to grow 145% next year vs 20% growth forecast for Renewable Energy industry in Japan. Consensus price target up from JP¥6,390 to JP¥12,500. Share price rose 19% to JP¥10,600 over the past week. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to JP¥8,780, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Renewable Energy industry in Japan. Total returns to shareholders of 352% over the past three years. Announcement • Oct 05
Kasumigaseki Capital Co.,Ltd., Annual General Meeting, Nov 29, 2023 Kasumigaseki Capital Co.,Ltd., Annual General Meeting, Nov 29, 2023. Reported Earnings • Oct 05
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥253 (up from JP¥133 in FY 2022). Revenue: JP¥37.3b (up 79% from FY 2022). Net income: JP¥2.05b (up 101% from FY 2022). Profit margin: 5.5% (up from 4.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Japan. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. New Risk • Oct 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 7.3% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (7.3% average weekly change). Announcement • Aug 25
Kasumigaseki Capital Co.,Ltd. to Report Fiscal Year 2023 Results on Oct 03, 2023 Kasumigaseki Capital Co.,Ltd. announced that they will report fiscal year 2023 results on Oct 03, 2023 Upcoming Dividend • Aug 23
Upcoming dividend of JP¥60.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 29 November 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (3.4%). Major Estimate Revision • Jul 21
Consensus revenue estimates increase by 38% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from JP¥26.2b to JP¥36.1b. EPS estimate increased from JP¥216 to JP¥283 per share. Net income forecast to grow 22% next year vs 27% growth forecast for Renewable Energy industry in Japan. Consensus price target of JP¥5,740 unchanged from last update. Share price rose 4.7% to JP¥4,965 over the past week. Reported Earnings • Jul 06
Third quarter 2023 earnings released: JP¥33.33 loss per share (vs JP¥78.48 loss in 3Q 2022) Third quarter 2023 results: JP¥33.33 loss per share (improved from JP¥78.48 loss in 3Q 2022). Revenue: JP¥1.97b (up 252% from 3Q 2022). Net loss: JP¥271.0m (loss narrowed 57% from 3Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Renewable Energy industry in Japan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥5,160, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Renewable Energy industry in Japan. Total returns to shareholders of 177% over the past three years. Announcement • May 24
Kasumigaseki Capital Co.,Ltd. to Report Q3, 2023 Results on Jul 04, 2023 Kasumigaseki Capital Co.,Ltd. announced that they will report Q3, 2023 results on Jul 04, 2023 Reported Earnings • Apr 04
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥81.63 (down from JP¥88.90 in 2Q 2022). Revenue: JP¥9.01b (down 12% from 2Q 2022). Net income: JP¥661.0m (down 3.8% from 2Q 2022). Profit margin: 7.3% (up from 6.7% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Renewable Energy industry in Japan.