| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 2904 | 2594 | 2294 | 2917 | 1381 | | 1380 | |
| TSE:2904 | TSE:2594 | TSE:2294 | TSE:2917 | TSE:1381 | | TSE:1380 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -0.6% | 3.0% | NM- | -2.5% | 5.7% | | 5.6% | |
| 3Y CAGR | -0.2% | 11.9% | NM- | -3.1% | 6.9% | | 4.8% | |
| Latest Twelve Months | 3.3% | 6.1% | NM | 10.4% | 2.9% | | 5.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 2.9% | -0.3% | 6.7% | 2.5% | 10.8% | | 1.4% | |
| Prior Fiscal Year | -0.7% | 0.4% | 8.0% | 2.6% | 7.9% | | 0.3% | |
| Latest Fiscal Year | 3.6% | 1.0% | 5.9% | 1.7% | 6.1% | | 0.2% | |
| Latest Twelve Months | 4.0% | 1.1% | 5.0% | 0.3% | 5.7% | | -1.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.63x | 0.59x | 0.60x | 0.33x | 0.34x | | 0.87x | |
| EV / LTM EBIT | 15.9x | 51.7x | 12.1x | 112.2x | 5.9x | | -56.3x | |
| Price / LTM Sales | 0.40x | 0.57x | 0.84x | 0.28x | 0.64x | | 0.54x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.33x | 0.59x | 0.63x | | | | | |
| Historical EV / LTM Revenue | 0.83x | 0.88x | 0.98x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.75x | 0.79x | 0.83x | | | | | |
| (x) LTM Revenue | 7,767 | 7,767 | 7,767 | | | | | |
| (=) Implied Enterprise Value | 5,820 | 6,126 | 6,433 | | | | | |
| (-) Non-shareholder Claims * | (2,543) | (2,543) | (2,543) | | | | | |
| (=) Equity Value | 3,277 | 3,583 | 3,890 | | | | | |
| (/) Shares Outstanding | 4.2 | 4.2 | 4.2 | | | | | |
| Implied Value Range | 786.02 | 859.49 | 932.97 | | | | | |
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 786.02 | 859.49 | 932.97 | | 1,010.00 | | | |
| Upside / (Downside) | -22.2% | -14.9% | -7.6% | | | | | |