Announcement • May 30
SBI Global Asset Management Co., Ltd. to Report Q1, 2027 Results on Jul 27, 2026 SBI Global Asset Management Co., Ltd. announced that they will report Q1, 2027 results on Jul 27, 2026 Reported Earnings • Apr 25
Full year 2026 earnings released: EPS: JP¥28.29 (vs JP¥18.36 in FY 2025) Full year 2026 results: EPS: JP¥28.29 (up from JP¥18.36 in FY 2025). Revenue: JP¥27.9b (up 141% from FY 2025). Net income: JP¥3.07b (up 87% from FY 2025). Profit margin: 11% (down from 14% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Apr 24
SBI Global Asset Management Co., Ltd., Annual General Meeting, Jun 17, 2026 SBI Global Asset Management Co., Ltd., Annual General Meeting, Jun 17, 2026. Announcement • Apr 21
SBI Global Asset Management Co., Ltd. to Report Fiscal Year 2026 Results on Apr 24, 2026 SBI Global Asset Management Co., Ltd. announced that they will report fiscal year 2026 results on Apr 24, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.75 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 02 June 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.5%). Declared Dividend • Feb 23
Dividend increased to JP¥13.75 Dividend of JP¥13.75 is 3.8% higher than last year. Ex-date: 30th March 2026 Payment date: 2nd June 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it covered by cash flows (134% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥6.16 (vs JP¥4.46 in 3Q 2025) Third quarter 2026 results: EPS: JP¥6.16 (up from JP¥4.46 in 3Q 2025). Revenue: JP¥8.55b (up 194% from 3Q 2025). Net income: JP¥707.0m (up 77% from 3Q 2025). Profit margin: 8.3% (down from 14% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. New Risk • Jan 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Cash payout ratio: 133% Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Announcement • Nov 29
SBI Global Asset Management Co., Ltd. to Report Q3, 2026 Results on Jan 29, 2026 SBI Global Asset Management Co., Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 Reported Earnings • Oct 28
Second quarter 2026 earnings released: EPS: JP¥5.95 (vs JP¥4.75 in 2Q 2025) Second quarter 2026 results: EPS: JP¥5.95 (up from JP¥4.75 in 2Q 2025). Revenue: JP¥4.43b (up 53% from 2Q 2025). Net income: JP¥550.9m (up 29% from 2Q 2025). Profit margin: 12% (down from 15% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Sep 30
SBI Global Asset Management Co., Ltd. (TSE:4765) entered into merger agreement to acquire SBI Rheos Hifumi Inc (TSE:165A) from SBI Financial Services Co., Ltd. and others for ¥22.2 billion. SBI Global Asset Management Co., Ltd. (TSE:4765) entered into merger agreement to acquire SBI Rheos Hifumi Inc (TSE:165A) from SBI Financial Services Co., Ltd. and others for ¥22.2 billion on September 30, 2025. The consideration consists of ¥22.16 billion based on 35.17 million common equity of SBI Global Asset Management Co., Ltd. at a ratio of 0.36 per common equity of SBI Rheos Hifumi Inc. As part of consideration, ¥22.16 billion is paid towards common equity of SBI Rheos Hifumi Inc.
The transaction is subject to approval of offer by acquirer shareholders and approval of offer by target shareholders. The expected completion of the transaction is December 1, 2025.
Miura & Partners acted as legal advisor for SBI Global Asset Management Co., Ltd. Anderson Mori & Tomotsune acted as legal advisor for SBI Rheos Hifumi Inc. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥8.75 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.7%). Announcement • Sep 01
SBI Global Asset Management Co., Ltd. to Report Q2, 2026 Results on Oct 27, 2025 SBI Global Asset Management Co., Ltd. announced that they will report Q2, 2026 results on Oct 27, 2025 Reported Earnings • Jul 27
First quarter 2026 earnings released: EPS: JP¥5.59 (vs JP¥5.29 in 1Q 2025) First quarter 2026 results: EPS: JP¥5.59 (up from JP¥5.29 in 1Q 2025). Revenue: JP¥2.84b (flat on 1Q 2025). Net income: JP¥501.1m (up 5.7% from 1Q 2025). Profit margin: 18% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Declared Dividend • Jul 21
Final dividend of JP¥8.75 announced Shareholders will receive a dividend of JP¥8.75. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (120% earnings payout ratio) nor is it covered by cash flows (106% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 33% to bring the payout ratio under control, which is more than the 4.3% EPS growth achieved over the last 5 years. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Outside Director Kotaro Yamazawa was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jun 27
SBI Global Asset Management Co., Ltd. to Report Q1, 2026 Results on Jul 25, 2025 SBI Global Asset Management Co., Ltd. announced that they will report Q1, 2026 results on Jul 25, 2025 Reported Earnings • Jun 20
Full year 2025 earnings released: EPS: JP¥18.36 (vs JP¥17.72 in FY 2024) Full year 2025 results: EPS: JP¥18.36 (up from JP¥17.72 in FY 2024). Revenue: JP¥11.6b (up 14% from FY 2024). Net income: JP¥1.65b (up 3.6% from FY 2024). Profit margin: 14% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Apr 25
Full year 2025 earnings released: EPS: JP¥18.36 (vs JP¥17.72 in FY 2024) Full year 2025 results: EPS: JP¥18.36 (up from JP¥17.72 in FY 2024). Revenue: JP¥11.6b (up 14% from FY 2024). Net income: JP¥1.65b (up 3.6% from FY 2024). Profit margin: 14% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.75 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 03 June 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.4%). Declared Dividend • Mar 06
Dividend of JP¥12.75 announced Shareholders will receive a dividend of JP¥12.75. Ex-date: 28th March 2025 Payment date: 3rd June 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (120% earnings payout ratio) nor is it covered by cash flows (123% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 33% to bring the payout ratio under control, which is more than the 4.5% EPS growth achieved over the last 5 years. Announcement • Mar 01
SBI Global Asset Management Co., Ltd. to Report Fiscal Year 2025 Results on Apr 24, 2025 SBI Global Asset Management Co., Ltd. announced that they will report fiscal year 2025 results on Apr 24, 2025 Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: JP¥4.46 (vs JP¥4.46 in 3Q 2024) Third quarter 2025 results: EPS: JP¥4.46 (in line with 3Q 2024). Revenue: JP¥2.91b (up 13% from 3Q 2024). Net income: JP¥400.0m (flat on 3Q 2024). Profit margin: 14% (down from 16% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 17
SBI Global Asset Management Co., Ltd. to Report Q3, 2025 Results on Jan 30, 2025 SBI Global Asset Management Co., Ltd. announced that they will report Q3, 2025 results on Jan 30, 2025 Announcement • Nov 05
SBI Global Asset Management Co., Ltd. Announces Dividend for the Second Quarter Ended September 30, 2024, Payable on December 2, 2024 SBI Global Asset Management Co., Ltd. announced a dividend of ¥8.75 per share for the second quarter ended September 30, 2024, against ¥8.50 per share paid a year ago. Scheduled date of commence dividend payment on December 2, 2024. Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: JP¥4.75 (vs JP¥4.73 in 2Q 2024) Second quarter 2025 results: EPS: JP¥4.75 (up from JP¥4.73 in 2Q 2024). Revenue: JP¥2.89b (up 14% from 2Q 2024). Net income: JP¥426.1m (flat on 2Q 2024). Profit margin: 15% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
SBI Global Asset Management Co., Ltd. Announces Dividend for the Second Quarter Ended September 30, 2024, Payable on December 2, 2024 SBI Global Asset Management Co., Ltd. announced dividend of JPY 8.75 per share for the second quarter ended September 30, 2024 compared to JPY 8.50 per share paid a year ago. Scheduled date of commence dividend payment: December 2, 2024. Announcement • Oct 03
SBI Global Asset Management Co., Ltd. to Report Q2, 2025 Results on Oct 24, 2024 SBI Global Asset Management Co., Ltd. announced that they will report Q2, 2025 results on Oct 24, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥8.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥546, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 12x in the Capital Markets industry in Japan. Total returns to shareholders of 32% over the past three years. Reported Earnings • Jul 27
First quarter 2025 earnings released: EPS: JP¥5.28 (vs JP¥4.84 in 1Q 2024) First quarter 2025 results: EPS: JP¥5.28 (up from JP¥4.84 in 1Q 2024). Revenue: JP¥2.84b (up 16% from 1Q 2024). Net income: JP¥473.0m (up 9.0% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
SBI Global Asset Management Co., Ltd. to Report Q1, 2025 Results on Jul 25, 2024 SBI Global Asset Management Co., Ltd. announced that they will report Q1, 2025 results on Jul 25, 2024 Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: JP¥17.72 (vs JP¥60.70 in FY 2023) Full year 2024 results: EPS: JP¥17.72 (down from JP¥60.70 in FY 2023). Revenue: JP¥10.1b (up 16% from FY 2023). Net income: JP¥1.59b (down 71% from FY 2023). Profit margin: 16% (down from 62% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥17.72 (vs JP¥60.70 in FY 2023) Full year 2024 results: EPS: JP¥17.72 (down from JP¥60.70 in FY 2023). Revenue: JP¥10.1b (up 16% from FY 2023). Net income: JP¥1.59b (down 71% from FY 2023). Profit margin: 16% (down from 62% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 28
SBI Global Asset Management Co., Ltd., Annual General Meeting, Jun 20, 2024 SBI Global Asset Management Co., Ltd., Annual General Meeting, Jun 20, 2024. Announcement • Apr 04
SBI Global Asset Management Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2024 SBI Global Asset Management Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.4%). Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥4.46 (vs JP¥4.08 in 3Q 2023) Third quarter 2024 results: EPS: JP¥4.46 (up from JP¥4.08 in 3Q 2023). Revenue: JP¥2.59b (up 5.8% from 3Q 2023). Net income: JP¥400.0m (up 9.3% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Dec 28
SBI Global Asset Management Co., Ltd. to Report Q3, 2024 Results on Jan 30, 2024 SBI Global Asset Management Co., Ltd. announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Oct 28
Second quarter 2024 earnings released: EPS: JP¥4.73 (vs JP¥4.06 in 2Q 2023) Second quarter 2024 results: EPS: JP¥4.73 (up from JP¥4.06 in 2Q 2023). Revenue: JP¥2.54b (up 23% from 2Q 2023). Net income: JP¥424.0m (up 17% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
SBI Global Asset Management Co.,Ltd. to Report Q2, 2024 Results on Oct 26, 2023 SBI Global Asset Management Co.,Ltd. announced that they will report Q2, 2024 results on Oct 26, 2023 Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥4.84 (vs JP¥4.03 in 1Q 2023) First quarter 2024 results: EPS: JP¥4.84 (up from JP¥4.03 in 1Q 2023). Revenue: JP¥2.45b (up 22% from 1Q 2023). Net income: JP¥434.0m (up 20% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
SBI Global Asset Management Co.,Ltd. to Report Q1, 2024 Results on Jul 27, 2023 SBI Global Asset Management Co.,Ltd. announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • May 10
Full year 2023 earnings released: EPS: JP¥60.70 (vs JP¥16.21 in FY 2022) Full year 2023 results: EPS: JP¥60.70 (up from JP¥16.21 in FY 2022). Revenue: JP¥8.75b (up 7.7% from FY 2022). Net income: JP¥5.44b (up 274% from FY 2022). Profit margin: 62% (up from 18% in FY 2022). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.75 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 01 June 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.8%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥4.08 (vs JP¥3.56 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.08 (up from JP¥3.56 in 3Q 2022). Revenue: JP¥2.45b (up 19% from 3Q 2022). Net income: JP¥366.0m (up 15% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 28
Morningstar Japan K.K. Provides Earnings Guidance for the Year Ended March 2023 Morningstar Japan K.K. provided earnings guidance for the year ended March 2023. For the year 2023, the company expected net sales of JPY 9,000 million, Operating profit of JPY 2,150 million, Ordinary profit of JPY 2,500 million, Profit attributable to owners of parent of JPY 5,700 million or Basic earnings per share of JPY 63.56. Announcement • Jan 09
Morningstar Japan K.K. to Report Q3, 2023 Results on Jan 27, 2023 Morningstar Japan K.K. announced that they will report Q3, 2023 results on Jan 27, 2023 Reported Earnings • Oct 27
Second quarter 2023 earnings released: EPS: JP¥4.06 (vs JP¥3.47 in 2Q 2022) Second quarter 2023 results: EPS: JP¥4.06 (up from JP¥3.47 in 2Q 2022). Revenue: JP¥2.07b (up 6.3% from 2Q 2022). Net income: JP¥364.0m (up 17% from 2Q 2022). Profit margin: 18% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥8.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.5%). Reported Earnings • Jul 27
First quarter 2023 earnings released: EPS: JP¥4.03 (vs JP¥4.61 in 1Q 2022) First quarter 2023 results: EPS: JP¥4.03 (down from JP¥4.61 in 1Q 2022). Revenue: JP¥2.01b (up 1.0% from 1Q 2022). Net income: JP¥361.1m (down 13% from 1Q 2022). Profit margin: 18% (down from 21% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 28
Full year 2022 earnings released: EPS: JP¥16.21 (vs JP¥15.33 in FY 2021) Full year 2022 results: EPS: JP¥16.21 (up from JP¥15.33 in FY 2021). Revenue: JP¥8.12b (up 8.5% from FY 2021). Net income: JP¥1.45b (up 10% from FY 2021). Profit margin: 18% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. 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. 5 non-independent directors. Independent Outside Director Billy Wilder was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 01 June 2022. The company is paying out more than 100% of its profits and is paying out 96% of its cash flow. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.9%). Reported Earnings • Jan 28
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥3.56 (up from JP¥3.25 in 3Q 2021). Revenue: JP¥2.06b (up 10% from 3Q 2021). Net income: JP¥319.0m (up 11% from 3Q 2021). Profit margin: 16% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS JP¥3.47 (vs JP¥4.30 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥1.95b (up 7.8% from 2Q 2021). Net income: JP¥311.0m (down 13% from 2Q 2021). Profit margin: 16% (down from 20% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 16 November 2021. Trailing yield: 3.1%. Within top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (4.2%). Reported Earnings • Aug 01
First quarter 2022 earnings released: EPS JP¥4.61 (vs JP¥4.10 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥1.99b (up 10.0% from 1Q 2021). Net income: JP¥413.0m (up 22% from 1Q 2021). Profit margin: 21% (up from 19% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Reported Earnings • Apr 25
Full year 2021 earnings released: EPS JP¥15.33 (vs JP¥14.84 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥7.49b (up 9.8% from FY 2020). Net income: JP¥1.32b (up 7.2% from FY 2020). Profit margin: 18% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥8.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 01 June 2021. Trailing yield: 3.0%. Within top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (2.8%). Is New 90 Day High Low • Feb 12
New 90-day high: JP¥494 The company is up 10.0% from its price of JP¥450 on 13 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 16% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥3.25 (vs JP¥3.23 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: JP¥1.86b (up 17% from 3Q 2020). Net income: JP¥288.0m (up 7.5% from 3Q 2020). Profit margin: 16% (down from 17% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 28
Third quarter 2021 earnings released: EPS JP¥3.25 (vs JP¥3.23 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: JP¥1.86b (up 17% from 3Q 2020). Net income: JP¥288.0m (up 7.5% from 3Q 2020). Profit margin: 16% (down from 17% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Oct 24
First half earnings released Over the last 12 months the company has reported total profits of JP¥1.24b, down 1.5% from the prior year. Total revenue was JP¥7.10b over the last 12 months, up 16% from the prior year. Is New 90 Day High Low • Sep 24
New 90-day high: JP¥471 The company is up 22% from its price of JP¥385 on 25 June 2020. The Japanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 12% over the same period. Upcoming Dividend • Sep 22
Upcoming Dividend of JP¥7.50 Per Share Will be paid on the 16th of November to those who are registered shareholders by the 29th of September. The trailing yield of 3.3% is in the top quartile of Japanese dividend payers (3.1%), and it is in line with industry peers (3.0%).