Announcement • Jun 27
GOLDCREST Co.,Ltd. to Report Q1, 2027 Results on Jul 31, 2026 GOLDCREST Co.,Ltd. announced that they will report Q1, 2027 results on Jul 31, 2026 Reported Earnings • Jun 23
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥176 (up from JP¥151 in FY 2025). Revenue: JP¥30.4b (up 3.9% from FY 2025). Net income: JP¥5.86b (up 17% from FY 2025). Profit margin: 19% (up from 17% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.7%. Revenue is forecast to grow 6.2% 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 24% per year whereas the company’s share price has increased by 21% per year. Reported Earnings • May 17
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥176 (up from JP¥151 in FY 2025). Revenue: JP¥30.4b (up 3.9% from FY 2025). Net income: JP¥5.86b (up 17% from FY 2025). Profit margin: 19% (up from 17% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.7%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 28% per year. New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). High level of non-cash earnings (60% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • May 15
GOLDCREST Co.,Ltd., Annual General Meeting, Jun 18, 2026 GOLDCREST Co.,Ltd., Annual General Meeting, Jun 18, 2026. Announcement • May 10
GOLDCREST Co.,Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 GOLDCREST Co.,Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Reported Earnings • Jan 31
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥37.97 (down from JP¥66.86 in 3Q 2025). Revenue: JP¥6.92b (down 34% from 3Q 2025). Net income: JP¥1.26b (down 43% from 3Q 2025). Profit margin: 18% (down from 21% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates by 83%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 26
GOLDCREST Co.,Ltd. to Report Q3, 2026 Results on Jan 30, 2026 GOLDCREST Co.,Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Dec 06
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (60% 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 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: EPS: JP¥29.55 (down from JP¥36.29 in 2Q 2025). Revenue: JP¥5.24b (down 25% from 2Q 2025). Net income: JP¥982.0m (down 19% from 2Q 2025). Profit margin: 19% (up from 17% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) exceeded analyst estimates by 50%. Revenue is forecast to grow 3.9% 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 fallen by 6% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Sep 25
GOLDCREST Co.,Ltd. to Report Q2, 2026 Results on Oct 31, 2025 GOLDCREST Co.,Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Jul 29
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥75.10 (up from JP¥35.05 in 1Q 2025). Revenue: JP¥10.8b (up 60% from 1Q 2025). Net income: JP¥2.50b (up 114% from 1Q 2025). Profit margin: 23% (up from 17% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 127%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Jul 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Jul 09
Final dividend increased to JP¥50.00 Dividend of JP¥50.00 is 25% higher than last year. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 3.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (35% 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 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 9.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 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. 3 highly experienced directors. Independent Outside Director Ryukichi Tanaka 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. Reported Earnings • Jun 27
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥151 (up from JP¥113 in FY 2024). Revenue: JP¥29.3b (up 18% from FY 2024). Net income: JP¥5.01b (up 34% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 4.8% 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 fallen by 26% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Jun 26
GOLDCREST Co.,Ltd. to Report Q1, 2026 Results on Jul 28, 2025 GOLDCREST Co.,Ltd. announced that they will report Q1, 2026 results on Jul 28, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥151 (up from JP¥113 in FY 2024). Revenue: JP¥29.3b (up 18% from FY 2024). Net income: JP¥5.01b (up 34% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 5.5% 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 fallen by 26% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • May 14
GOLDCREST Co.,Ltd., Annual General Meeting, Jun 20, 2025 GOLDCREST Co.,Ltd., Annual General Meeting, Jun 20, 2025. Announcement • Mar 25
GOLDCREST Co.,Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 GOLDCREST Co.,Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 20 June 2025. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). New Risk • Feb 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Price Target Changed • Feb 02
Price target increased by 14% to JP¥3,199 Up from JP¥2,815, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥3,095. Stock is up 32% over the past year. The company is forecast to post earnings per share of JP¥137 for next year compared to JP¥113 last year. New Risk • Feb 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥66.86 (up from JP¥22.03 in 3Q 2024). Revenue: JP¥10.5b (up 62% from 3Q 2024). Net income: JP¥2.22b (up 204% from 3Q 2024). Profit margin: 21% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 41%. Earnings per share (EPS) also surpassed analyst estimates by 116%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Jan 17
GOLDCREST Co.,Ltd. to Report Q3, 2025 Results on Jan 31, 2025 GOLDCREST Co.,Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Dec 07
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 28th March 2025 Payment date: 20th June 2025 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (22% 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 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 9.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥36.29 (up from JP¥13.48 in 2Q 2024). Revenue: JP¥6.97b (up 86% from 2Q 2024). Net income: JP¥1.21b (up 169% from 2Q 2024). Profit margin: 17% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) also surpassed analyst estimates by 64%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Sep 26
GOLDCREST Co.,Ltd. to Report Q2, 2025 Results on Oct 31, 2024 GOLDCREST Co.,Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.6%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥35.05 (vs JP¥11.75 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥35.05 (up from JP¥11.75 loss in 1Q 2024). Revenue: JP¥6.74b (up 166% from 1Q 2024). Net income: JP¥1.17b (up JP¥1.56b from 1Q 2024). Profit margin: 17% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.4% 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 fallen by 29% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (203% earnings payout ratio). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 126% to bring the payout ratio under control. EPS is expected to grow by 31% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Jun 28
GOLDCREST Co.,Ltd. to Report Q1, 2025 Results on Jul 31, 2024 GOLDCREST Co.,Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 11
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥113 (down from JP¥210 in FY 2023). Revenue: JP¥24.8b (down 9.5% from FY 2023). Net income: JP¥3.75b (down 47% from FY 2023). Profit margin: 15% (down from 26% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 10.0%. Revenue is forecast to grow 6.2% 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 fallen by 24% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • May 11
GOLDCREST Co.,Ltd., Annual General Meeting, Jun 19, 2024 GOLDCREST Co.,Ltd., Annual General Meeting, Jun 19, 2024. Buy Or Sell Opportunity • May 01
Now 22% undervalued Over the last 90 days, the stock has risen 7.1% to JP¥2,490. The fair value is estimated to be JP¥3,177, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Mar 25
Now 21% undervalued Over the last 90 days, the stock has risen 8.3% to JP¥2,488. The fair value is estimated to be JP¥3,145, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Announcement • Mar 23
GOLDCREST Co.,Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 GOLDCREST Co.,Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.2%). Reported Earnings • Jan 26
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: JP¥22.03 (up from JP¥15.02 in 3Q 2023). Revenue: JP¥6.50b (up 88% from 3Q 2023). Net income: JP¥732.0m (up 46% from 3Q 2023). Profit margin: 11% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 12% 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 fallen by 14% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Dec 28
GOLDCREST Co.,Ltd. to Report Q3, 2024 Results on Jan 25, 2024 GOLDCREST Co.,Ltd. announced that they will report Q3, 2024 results on Jan 25, 2024 Reported Earnings • Oct 28
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥13.48 (down from JP¥20.30 in 2Q 2023). Revenue: JP¥3.75b (down 25% from 2Q 2023). Net income: JP¥448.0m (down 35% from 2Q 2023). Profit margin: 12% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 15% 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 9% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 28
GOLDCREST Co.,Ltd. to Report Q2, 2024 Results on Oct 26, 2023 GOLDCREST Co.,Ltd. announced that they will report Q2, 2024 results on Oct 26, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.6%). New Risk • Jul 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.8% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 203% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (8.8% net profit margin). New Risk • Jul 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.8% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 203% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (8.8% net profit margin). Reported Earnings • Jul 28
First quarter 2024 earnings released: JP¥11.75 loss per share (vs JP¥158 profit in 1Q 2023) First quarter 2024 results: JP¥11.75 loss per share (down from JP¥158 profit in 1Q 2023). Revenue: JP¥2.53b (down 83% from 1Q 2023). Net loss: JP¥391.0m (down 107% from profit in 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
GOLDCREST Co.,Ltd. to Report Q1, 2024 Results on Jul 27, 2023 GOLDCREST Co.,Ltd. announced that they will report Q1, 2024 results on Jul 27, 2023 Major Estimate Revision • May 20
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥27.2b to JP¥23.9b. EPS estimate fell from JP¥129 to JP¥101 per share. Net income forecast to shrink 52% next year vs 7.3% growth forecast for Real Estate industry in Japan . Consensus price target broadly unchanged at JP¥2,455. Share price was steady at JP¥1,742 over the past week. Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥210 (down from JP¥223 in FY 2022). Revenue: JP¥27.5b (down 20% from FY 2022). Net income: JP¥7.03b (down 7.5% from FY 2022). Profit margin: 26% (up from 22% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 13
GOLDCREST Co.,Ltd., Annual General Meeting, Jun 21, 2023 GOLDCREST Co.,Ltd., Annual General Meeting, Jun 21, 2023. Major Estimate Revision • May 12
Consensus revenue estimates decrease by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥30.4b to JP¥27.2b. EPS estimate unchanged from JP¥169 per share at last update. Real Estate industry in Japan expected to see average net income growth of 10% next year. Consensus price target broadly unchanged at JP¥2,475. Share price fell 2.7% to JP¥1,738 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.1%). Reported Earnings • Jan 27
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥15.02 (down from JP¥157 in 3Q 2022). Revenue: JP¥3.45b (down 84% from 3Q 2022). Net income: JP¥500.0m (down 91% from 3Q 2022). Profit margin: 14% (down from 26% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 32%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Real Estate industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Jan 27
Price target decreased by 17% to JP¥2,495 Down from JP¥3,015, the current price target is an average from 2 analysts. New target price is 54% above last closing price of JP¥1,617. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of JP¥206 for next year compared to JP¥223 last year. Announcement • Dec 23
GOLDCREST Co.,Ltd. to Report Q3, 2023 Results on Jan 26, 2023 GOLDCREST Co.,Ltd. announced that they will report Q3, 2023 results on Jan 26, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥20.30 (up from JP¥7.45 in 2Q 2022). Revenue: JP¥4.97b (up 46% from 2Q 2022). Net income: JP¥685.0m (up 169% from 2Q 2022). Profit margin: 14% (up from 7.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is expected to decline by 2.7% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Ryukichi Tanaka was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥20.30 (up from JP¥7.45 in 2Q 2022). Revenue: JP¥4.97b (up 46% from 2Q 2022). Net income: JP¥685.0m (up 169% from 2Q 2022). Profit margin: 14% (up from 7.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is expected to decline by 2.7% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Japan are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Sep 18
GOLDCREST Co.,Ltd. to Report Q2, 2023 Results on Oct 27, 2022 GOLDCREST Co.,Ltd. announced that they will report Q2, 2023 results on Oct 27, 2022 Announcement • Sep 16
GOLDCREST Co.,Ltd. (TSE:8871) announces an Equity Buyback for 500,000 shares, representing 1.48% for ¥891 million. GOLDCREST Co.,Ltd. (TSE:8871) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 1.48% of its issued share capital for ¥891 million. The shares will be repurchased at a price of ¥1,782 per share. The purpose of the program is to enhance shareholder returns and improve capital efficiency. As of August 31, 2022, the company had 33,802,298 shares issued (excluding treasury stock) and 1,981,702 shares in treasury. Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥158 (vs JP¥32.25 in 1Q 2022) First quarter 2023 results: EPS: JP¥158 (up from JP¥32.25 in 1Q 2022). Revenue: JP¥15.0b (up 162% from 1Q 2022). Net income: JP¥5.33b (up 382% from 1Q 2022). Profit margin: 35% (up from 19% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 33% compared to a 3.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Announcement • Jun 29
GOLDCREST Co.,Ltd. to Report Q1, 2023 Results on Jul 28, 2022 GOLDCREST Co.,Ltd. announced that they will report Q1, 2023 results on Jul 28, 2022 Major Estimate Revision • May 19
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥30.8b to JP¥29.2b. EPS estimate rose from JP¥144 to JP¥209. Net income forecast to shrink 6.5% next year vs 7.6% growth forecast for Real Estate industry in Japan . Consensus price target up from JP¥2,895 to JP¥2,985. Share price was steady at JP¥1,643 over the past week. Reported Earnings • May 17
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: JP¥223 (up from JP¥123 in FY 2021). Revenue: JP¥34.2b (up 19% from FY 2021). Net income: JP¥7.60b (up 77% from FY 2021). Profit margin: 22% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Over the next year, revenue is expected to shrink by 15% compared to a 4.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 14
GOLDCREST Co.,Ltd., Annual General Meeting, Jun 17, 2022 GOLDCREST Co.,Ltd., Annual General Meeting, Jun 17, 2022. Board Change • Apr 27
No independent 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. 2 highly experienced directors. No independent directors (3 non-independent directors). Investor Relations Officer, MD & Director Masaki Ito was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
GOLDCREST Co.,Ltd. to Report Fiscal Year 2022 Results on May 12, 2022 GOLDCREST Co.,Ltd. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 18 June 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.6%). Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥157 (up from JP¥90.82 in 3Q 2021). Revenue: JP¥20.9b (up 25% from 3Q 2021). Net income: JP¥5.34b (up 67% from 3Q 2021). Profit margin: 26% (up from 19% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 46%. Over the next year, revenue is expected to shrink by 11% compared to a 5.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Dec 05
GOLDCREST Co.,Ltd. (TSE:8871) announces an Equity Buyback for 600,000 shares, representing 1.76% for ¥1,200 million. GOLDCREST Co.,Ltd. (TSE:8871) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 1.76% of its issued share capital for ¥1,200 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program is valid till February 28, 2022. As of November 30, 2021, the company had 34,061,248 shares issued (excluding treasury stock) and 1,722,752 shares in treasury. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥7.45 (vs JP¥6.75 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥3.41b (down 7.9% from 2Q 2021). Net income: JP¥255.0m (up 7.1% from 2Q 2021). Profit margin: 7.5% (up from 6.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.3%). Announcement • Sep 19
GOLDCREST Co.,Ltd. (TSE:8871) announces an Equity Buyback for 200,000 shares, representing 0.58% for ¥352.4 million. GOLDCREST Co.,Ltd. (TSE:8871) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.58% of its issued share capital for ¥352.4 million. The shares will be repurchased at a price of ¥1,762 per share. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program is valid till September 17, 2021. As of August 31, 2021, the company had 34,261,248 shares issued (excluding treasury stock) and 1,522,752 shares in treasury. Reported Earnings • Aug 04
First quarter 2022 earnings released: EPS JP¥32.25 (vs JP¥4.00 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥5.74b (up 118% from 1Q 2021). Net income: JP¥1.11b (up JP¥1.25b from 1Q 2021). Profit margin: 19% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. 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 6% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥123 (vs JP¥215 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥28.9b (down 17% from FY 2020). Net income: JP¥4.30b (down 43% from FY 2020). Profit margin: 15% (down from 22% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 2.9%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (2.1%). Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥90.82 (vs JP¥12.37 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥16.7b (up 366% from 3Q 2020). Net income: JP¥3.20b (up JP¥2.76b from 3Q 2020). Profit margin: 19% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) missed analyst estimates by 75%. Over the next year, revenue is forecast to grow 15%, compared to a 4.2% growth forecast for the Real Estate industry in Japan. Is New 90 Day High Low • Jan 29
New 90-day high: JP¥1,802 The company is up 35% from its price of JP¥1,332 on 30 October 2020. The Japanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,946 per share. Is New 90 Day High Low • Jan 14
New 90-day high: JP¥1,683 The company is up 28% from its price of JP¥1,313 on 16 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥3,242 per share. Is New 90 Day High Low • Dec 25
New 90-day high: JP¥1,651 The company is up 19% from its price of JP¥1,386 on 25 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥3,196 per share. Is New 90 Day High Low • Dec 02
New 90-day high: JP¥1,488 The company is up 1.0% from its price of JP¥1,473 on 03 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,758 per share. Announcement • Oct 10
GOLDCREST Co.,Ltd. to Report Q2, 2021 Results on Oct 29, 2020 GOLDCREST Co.,Ltd. announced that they will report Q2, 2021 results on Oct 29, 2020