Buy Or Sell Opportunity • Apr 27
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥1,175. The fair value is estimated to be JP¥970, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has declined by 13%. Reported Earnings • Apr 11
First quarter 2026 earnings released: EPS: JP¥35.01 (vs JP¥4.85 in 1Q 2025) First quarter 2026 results: EPS: JP¥35.01 (up from JP¥4.85 in 1Q 2025). Revenue: JP¥3.79b (up 62% from 1Q 2025). Net income: JP¥491.0m (up JP¥423.0m from 1Q 2025). Profit margin: 13% (up from 2.9% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: JP¥125 (vs JP¥101 in FY 2024) Full year 2025 results: EPS: JP¥125 (up from JP¥101 in FY 2024). Revenue: JP¥19.1b (up 13% from FY 2024). Net income: JP¥1.75b (up 24% from FY 2024). Profit margin: 9.2% (up from 8.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Jan 10
Full year 2025 earnings released: EPS: JP¥125 (vs JP¥101 in FY 2024) Full year 2025 results: EPS: JP¥125 (up from JP¥101 in FY 2024). Revenue: JP¥19.1b (up 13% from FY 2024). Net income: JP¥1.75b (up 24% from FY 2024). Profit margin: 9.2% (up from 8.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jan 09
First Brothers Co.,Ltd., Annual General Meeting, Feb 26, 2026 First Brothers Co.,Ltd., Annual General Meeting, Feb 26, 2026. Announcement • Nov 27
First Brothers Co.,Ltd. to Report Fiscal Year 2025 Results on Jan 09, 2026 First Brothers Co.,Ltd. announced that they will report fiscal year 2025 results on Jan 09, 2026 Upcoming Dividend • Nov 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 November 2025. Payment date: 09 February 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.9%). Reported Earnings • Oct 08
Third quarter 2025 earnings released: EPS: JP¥31.09 (vs JP¥23.03 in 3Q 2024) Third quarter 2025 results: EPS: JP¥31.09 (up from JP¥23.03 in 3Q 2024). Revenue: JP¥4.94b (up 39% from 3Q 2024). Net income: JP¥436.0m (up 35% from 3Q 2024). Profit margin: 8.8% (down from 9.1% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Aug 27
First Brothers Co.,Ltd. to Report Q3, 2025 Results on Oct 07, 2025 First Brothers Co.,Ltd. announced that they will report Q3, 2025 results on Oct 07, 2025 Reported Earnings • Jul 10
Second quarter 2025 earnings released: EPS: JP¥11.12 (vs JP¥8.27 in 2Q 2024) Second quarter 2025 results: EPS: JP¥11.12 (up from JP¥8.27 in 2Q 2024). Revenue: JP¥3.03b (up 26% from 2Q 2024). Net income: JP¥156.0m (up 35% from 2Q 2024). Profit margin: 5.1% (up from 4.8% in 2Q 2024). The increase in margin was driven by higher revenue. 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 8% per year, which means it is well ahead of earnings. Declared Dividend • Jul 10
Dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 27th November 2025 Payment date: 9th February 2026 Dividend yield will be 3.4%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (66% 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 11% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 27% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.3% EPS decline seen over the last 5 years. Announcement • Apr 26
First Brothers Co.,Ltd. to Report Q2, 2025 Results on Jul 08, 2025 First Brothers Co.,Ltd. announced that they will report Q2, 2025 results on Jul 08, 2025 Reported Earnings • Apr 09
First quarter 2025 earnings released: EPS: JP¥4.85 (vs JP¥4.49 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.85 (up from JP¥4.49 in 1Q 2024). Revenue: JP¥2.34b (up 20% from 1Q 2024). Net income: JP¥68.0m (up 7.9% from 1Q 2024). Profit margin: 2.9% (down from 3.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to JP¥892. The fair value is estimated to be JP¥1,138, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 13%. Reported Earnings • Mar 04
Full year 2024 earnings released: EPS: JP¥101 (vs JP¥227 in FY 2023) Full year 2024 results: EPS: JP¥101 (down from JP¥227 in FY 2023). Revenue: JP¥16.9b (down 24% from FY 2023). Net income: JP¥1.42b (down 56% from FY 2023). Profit margin: 8.4% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Feb 27
First Brothers Co.,Ltd. to Report Q1, 2025 Results on Apr 08, 2025 First Brothers Co.,Ltd. announced that they will report Q1, 2025 results on Apr 08, 2025 Buy Or Sell Opportunity • Jan 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to JP¥959. The fair value is estimated to be JP¥1,214, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 13%. Announcement • Jan 21
First Brothers Co.,Ltd. Pays Dividend for Fiscal Year Ended November 30, 2024, February 7, 2025 First Brothers Co.,Ltd. announced at its board meeting held on January 17, 2025 that company to pay a year-end dividend of 34.00 yen per share for the fiscal year ended November 30, 2024. Record date November is 30, 2024. Effective date is February 7, 2025. Reported Earnings • Jan 15
Full year 2024 earnings released: EPS: JP¥101 (vs JP¥227 in FY 2023) Full year 2024 results: EPS: JP¥101 (down from JP¥227 in FY 2023). Revenue: JP¥16.9b (down 24% from FY 2023). Net income: JP¥1.42b (down 56% from FY 2023). Profit margin: 8.4% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. New Risk • Nov 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.0b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.8% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.3% net profit margin). Market cap is less than US$100m (JP¥15.0b market cap, or US$99.1m). Announcement • Nov 28
First Brothers Co.,Ltd. to Report Fiscal Year 2024 Results on Jan 10, 2025 First Brothers Co.,Ltd. announced that they will report fiscal year 2024 results on Jan 10, 2025 Upcoming Dividend • Nov 21
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 28 November 2024. Payment date: 08 February 2025. Payout ratio is on the higher end at 88% but the company is not cash flow positive. Trailing yield: 5.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.2%). New Risk • Oct 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.2b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 3.8% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.3% net profit margin). Market cap is less than US$100m (JP¥15.2b market cap, or US$99.8m). Reported Earnings • Oct 10
Third quarter 2024 earnings released: EPS: JP¥23.03 (vs JP¥31.59 in 3Q 2023) Third quarter 2024 results: EPS: JP¥23.03 (down from JP¥31.59 in 3Q 2023). Revenue: JP¥3.54b (down 13% from 3Q 2023). Net income: JP¥323.0m (down 27% from 3Q 2023). Profit margin: 9.1% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Oct 09
First Brothers Co.,Ltd. Provides Fiscal Year-End Cash Dividend Guidance for the Year Ending November 30, 2024 First Brothers Co.,Ltd. provided fiscal year-end cash dividend guidance for the year ending November 30, 2024. For the period, the company expected to pay cash dividend of JPY 34.00 per share compared to JPY 32.00 per share paid a year ago. New Risk • Aug 05
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk 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). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.9% net profit margin). Market cap is less than US$100m (JP¥12.9b market cap, or US$90.9m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥923, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 12x in the Capital Markets industry in Japan. Total returns to shareholders of 4.1% over the past three years. Announcement • Jul 27
First Brothers Co.,Ltd. to Report Q3, 2024 Results on Oct 08, 2024 First Brothers Co.,Ltd. announced that they will report Q3, 2024 results on Oct 08, 2024 Announcement • Jul 11
First Brothers Co.,Ltd. Announces Second Quarter Dividend for the Year Ending November 30, 2024, Payable on August 5, 2024 First Brothers Co.,Ltd. Announced the second quarter dividend of JPY 33.00 per share for the Year ending November 30, 2024, payable on August 5, 2024. Reported Earnings • Jul 11
Second quarter 2024 earnings released: EPS: JP¥8.27 (vs JP¥132 in 2Q 2023) Second quarter 2024 results: EPS: JP¥8.27 (down from JP¥132 in 2Q 2023). Revenue: JP¥2.41b (down 76% from 2Q 2023). Net income: JP¥116.0m (down 94% from 2Q 2023). Profit margin: 4.8% (down from 18% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Jul 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥16.0b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (5.6% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥16.0b market cap, or US$99.1m). Announcement • May 30
First Brothers Co.,Ltd. to Report Q2, 2024 Results on Jul 09, 2024 First Brothers Co.,Ltd. announced that they will report Q2, 2024 results on Jul 09, 2024 Buy Or Sell Opportunity • Feb 26
Now 20% undervalued Over the last 90 days, the stock has risen 19% to JP¥1,270. The fair value is estimated to be JP¥1,590, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Earnings per share has declined by 5.6%. Announcement • Jan 31
First Brothers Co.,Ltd. to Report Q1, 2024 Results on Apr 09, 2024 First Brothers Co.,Ltd. announced that they will report Q1, 2024 results on Apr 09, 2024 Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,240, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 17x in the Capital Markets industry in Japan. Total returns to shareholders of 37% over the past three years. New Risk • Jan 15
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 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk 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 (7.0% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jan 14
Full year 2023 earnings released: EPS: JP¥227 (vs JP¥84.15 in FY 2022) Full year 2023 results: EPS: JP¥227 (up from JP¥84.15 in FY 2022). Revenue: JP¥22.3b (up 56% from FY 2022). Net income: JP¥3.19b (up 170% from FY 2022). Profit margin: 14% (up from 8.3% in FY 2022). 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 1% per year, which means it is well ahead of earnings. Announcement • Dec 28
First Brothers Co.,Ltd. Revises Earnings Guidance for the Fiscal Year Ended November 30, 2023 First Brothers Co.,Ltd. revised earnings guidance for the fiscal year ended November 30, 2023. For the year, the company now expects net sales of JPY 22,260 million, operating profit of JPY 4,450 million, profit attributable to owners of parent of JPY 3,170 million and earnings per share of JPY 226.05 against net sales of JPY 21,760 million, operating profit of JPY 4,000 million, profit attributable to owners of parent of JPY 2,700 million and earnings per share of JPY 192.54 as previously forecasted. New Risk • Nov 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.0b (US$94.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 1.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥14.0b market cap, or US$94.5m). Upcoming Dividend • Nov 22
Upcoming dividend of JP¥32.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 02 February 2024. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (3.1%). Announcement • Nov 01
First Brothers Co.,Ltd. to Report Fiscal Year 2023 Results on Jan 12, 2024 First Brothers Co.,Ltd. announced that they will report fiscal year 2023 results on Jan 12, 2024 Reported Earnings • Oct 07
Third quarter 2023 earnings released: EPS: JP¥31.59 (vs JP¥14.26 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.59 (up from JP¥14.26 in 3Q 2022). Revenue: JP¥4.05b (up 82% from 3Q 2022). Net income: JP¥443.0m (up 122% from 3Q 2022). Profit margin: 11% (up from 9.0% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Aug 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.5b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 4.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥14.5b market cap, or US$99.3m). Announcement • Jul 30
First Brothers Co.,Ltd. to Report Q3, 2023 Results on Oct 06, 2023 First Brothers Co.,Ltd. announced that they will report Q3, 2023 results on Oct 06, 2023 Reported Earnings • Jul 10
Second quarter 2023 earnings released: EPS: JP¥132 (vs JP¥5.13 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥132 (up from JP¥5.13 loss in 2Q 2022). Revenue: JP¥10.2b (up 351% from 2Q 2022). Net income: JP¥1.85b (up JP¥1.92b from 2Q 2022). Profit margin: 18% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Apr 08
First quarter 2023 earnings released: EPS: JP¥26.31 (vs JP¥47.42 in 1Q 2022) First quarter 2023 results: EPS: JP¥26.31 (down from JP¥47.42 in 1Q 2022). Revenue: JP¥1.82b (down 71% from 1Q 2022). Net income: JP¥369.0m (down 45% from 1Q 2022). Profit margin: 20% (up from 11% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jan 18
First Brothers Co.,Ltd., Annual General Meeting, Feb 22, 2023 First Brothers Co.,Ltd., Annual General Meeting, Feb 22, 2023. Reported Earnings • Jan 14
Full year 2022 earnings released: EPS: JP¥84.15 (vs JP¥199 in FY 2021) Full year 2022 results: EPS: JP¥84.15 (down from JP¥199 in FY 2021). Revenue: JP¥14.3b (down 47% from FY 2021). Net income: JP¥1.18b (down 58% from FY 2021). Profit margin: 8.3% (down from 11% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Announcement • Nov 23
First Brothers Co.,Ltd. Revises Earnings Guidance for the Full Year Ending November 30, 2022 First Brothers Co.,Ltd. revised earnings guidance for the full year ending November 30, 2022. For the period, the company expected net sales of JPY 14,220 million, operating profit of JPY 1,710 million, profit attributable to owners of parent of JPY 1,050 million and earnings per share of JPY 74.88 compared to previous guidance of net sales of JPY 24,900 million, operating profit of JPY 2,880 million, profit attributable to owners of parent of JPY 1,300 million and earnings per share of JPY 92.70. Upcoming Dividend • Nov 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 November 2022. Payment date: 07 February 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Outside Director Tatsuo Watanabe was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 01
First Brothers Co.,Ltd. to Report Fiscal Year 2022 Results on Jan 13, 2023 First Brothers Co.,Ltd. announced that they will report fiscal year 2022 results on Jan 13, 2023 Reported Earnings • Oct 09
Third quarter 2022 earnings released: EPS: JP¥14.26 (vs JP¥4.28 in 3Q 2021) Third quarter 2022 results: EPS: JP¥14.26 (up from JP¥4.28 in 3Q 2021). Revenue: JP¥2.23b (up 37% from 3Q 2021). Net income: JP¥200.0m (up 233% from 3Q 2021). Profit margin: 9.0% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Aug 03
First Brothers Co.,Ltd. to Report Q3, 2022 Results on Oct 07, 2022 First Brothers Co.,Ltd. announced that they will report Q3, 2022 results on Oct 07, 2022 Reported Earnings • Jul 11
Second quarter 2022 earnings released: JP¥5.13 loss per share (vs JP¥120 profit in 2Q 2021) Second quarter 2022 results: JP¥5.13 loss per share (down from JP¥120 profit in 2Q 2021). Revenue: JP¥2.26b (down 81% from 2Q 2021). Net loss: JP¥72.0m (down 104% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 14
First Brothers Co.,Ltd. to Report Q2, 2022 Results on Jul 08, 2022 First Brothers Co.,Ltd. announced that they will report Q2, 2022 results on Jul 08, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Outside Director Tatsuo Watanabe was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 10
First quarter 2022 earnings released: EPS: JP¥47.42 (vs JP¥4.28 in 1Q 2021) First quarter 2022 results: EPS: JP¥47.42 (up from JP¥4.28 in 1Q 2021). Revenue: JP¥6.35b (up 176% from 1Q 2021). Net income: JP¥665.0m (up JP¥605.0m from 1Q 2021). Profit margin: 11% (up from 2.6% 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 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥199 (up from JP¥165 in FY 2020). Revenue: JP¥26.7b (up 71% from FY 2020). Net income: JP¥2.80b (up 21% from FY 2020). Profit margin: 11% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 02
First Brothers Co.,Ltd. to Report Q1, 2022 Results on Apr 08, 2022 First Brothers Co.,Ltd. announced that they will report Q1, 2022 results on Apr 08, 2022 Announcement • Jan 14
First Brothers Co.,Ltd. Provides Consolidated Earnings Guidance for the Year Ending November 30, 2022 First Brothers Co.,Ltd. provided consolidated earnings guidance for the year ending November 30, 2022. For the year, the company expects net sales to be JPY 24,900 million. Operating profit to be JPY 2,880 million. Profit attributable to owners of parent to be JPY 1,300 million. Earnings per share to be JPY 92.70. Reported Earnings • Jan 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥199 (up from JP¥165 in FY 2020). Revenue: JP¥26.7b (up 71% from FY 2020). Net income: JP¥2.80b (up 21% from FY 2020). Profit margin: 11% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 22
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 05 February 2022. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (3.9%). Reported Earnings • Oct 09
Third quarter 2021 earnings released: EPS JP¥4.28 (vs JP¥152 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥1.63b (down 80% from 3Q 2020). Net income: JP¥60.0m (down 97% from 3Q 2020). Profit margin: 3.7% (down from 27% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 14
First Brothers Co.,Ltd. Provides Consolidated Earnings Guidance for the Year Ending November 30, 2021 First Brothers Co.,Ltd. provided consolidated earnings guidance for the year ending November 30, 2021. For the year, the company expected net sales of JPY 30,100 million, operating profit of JPY 4,730 million, profit attributable to owners of parent of JPY 2,550 million and earnings per share of JPY 1981.84. Reported Earnings • Jul 11
Second quarter 2021 earnings released: EPS JP¥120 (vs JP¥6.99 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥11.9b (up JP¥10.8b from 2Q 2020). Net income: JP¥1.69b (up JP¥1.59b from 2Q 2020). Profit margin: 14% (up from 9.1% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 15
First Brothers Co.,Ltd. Provides Earnings Guidance for the Year Ending November 30, 2021 First Brothers Co.,Ltd. provided earnings guidance for the year ending November 30, 2021. For the year, the company expects net sales of JPY 30,100 million, operating profit of JPY 4,730 million, profit attributable to owners of parent of JPY 2,550 million or JPY 181.84 per share. Reported Earnings • Apr 11
First quarter 2021 earnings released: EPS JP¥4.28 (vs JP¥13.55 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥2.30b (up 151% from 1Q 2020). Net income: JP¥60.0m (up JP¥250.0m from 1Q 2020). Profit margin: 2.6% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS JP¥165 (vs JP¥156 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥15.6b (down 21% from FY 2019). Net income: JP¥2.31b (up 6.0% from FY 2019). Profit margin: 15% (up from 11% in FY 2019). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jan 31
First Brothers Co.,Ltd. to Report Q1, 2021 Results on Apr 09, 2021 First Brothers Co.,Ltd. announced that they will report Q1, 2021 results on Apr 09, 2021 Announcement • Jan 13
First Brothers Co.,Ltd., Annual General Meeting, Feb 25, 2021 First Brothers Co.,Ltd., Annual General Meeting, Feb 25, 2021. Is New 90 Day High Low • Jan 12
New 90-day high: JP¥1,081 The company is up 12% from its price of JP¥962 on 14 October 2020. The Japanese market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is up 6.0% over the same period. Reported Earnings • Jan 09
Full year 2020 earnings released: EPS JP¥165 The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥15.6b (down 21% from FY 2019). Net income: JP¥2.31b (up 6.0% from FY 2019). Profit margin: 15% (up from 11% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 25
New 90-day low: JP¥886 The company is down 4.0% from its price of JP¥920 on 25 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is down 2.0% over the same period. Announcement • Dec 02
First Brothers Co.,Ltd. Revises Earnings Guidance for the Fiscal Year Ending November 30, 2020 First Brothers Co.,Ltd. revised earnings guidance for the fiscal year ending November 30, 2020. For the year, the company now expects net sales to be JPY 15,620 million, operating profit to be JPY 2,400 million and profit attributable to owners of parent to be JPY 2,150 million or JPY 153.32 per share against its previous of net sales to be JPY 14,100 million, operating profit to be JPY 2,150 million and profit attributable to owners of parent to be JPY 2,040 million or JPY 145.48 per share. 
