| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 9887 | 2882 | 7604 | 3063 | 6570 | | 3068 | |
| TSE:9887 | TSE:2882 | TSE:7604 | TSE:3063 | TSE:6570 | | TSE:3068 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.4% | 4.3% | -1.6% | -7.1% | NM- | | 0.8% | |
| 3Y CAGR | 10.6% | 8.0% | 11.3% | 15.9% | NM- | | 25.1% | |
| Latest Twelve Months | 22.5% | 2.0% | 0.4% | 7.2% | 13.5% | | 6.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 0.6% | 2.5% | -3.6% | -14.4% | 6.3% | | -0.7% | |
| Prior Fiscal Year | 1.4% | 2.8% | 0.3% | -12.7% | 5.8% | | 3.2% | |
| Latest Fiscal Year | 4.2% | 3.0% | 2.7% | 3.0% | 7.4% | | 4.5% | |
| Latest Twelve Months | 3.6% | 3.0% | 2.2% | 4.1% | 6.9% | | 2.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.78x | 0.76x | 0.65x | 1.06x | 0.35x | | 0.67x | |
| EV / LTM EBIT | 21.6x | 25.4x | 29.1x | 25.4x | 5.0x | | 26.7x | |
| Price / LTM Sales | 0.76x | 0.64x | 0.26x | 0.78x | 0.35x | | 0.60x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.35x | 0.76x | 1.06x | | | | | |
| Historical EV / LTM Revenue | 0.35x | 0.63x | 0.87x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.61x | 0.65x | 0.68x | | | | | |
| (x) LTM Revenue | 31,973 | 31,973 | 31,973 | | | | | |
| (=) Implied Enterprise Value | 19,602 | 20,634 | 21,665 | | | | | |
| (-) Non-shareholder Claims * | (2,358) | (2,358) | (2,358) | | | | | |
| (=) Equity Value | 17,244 | 18,276 | 19,307 | | | | | |
| (/) Shares Outstanding | 6.3 | 6.3 | 6.3 | | | | | |
| Implied Value Range | 2,756.97 | 2,921.92 | 3,086.86 | | | | | |
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2,756.97 | 2,921.92 | 3,086.86 | | 3,055.00 | | | |
| Upside / (Downside) | -9.8% | -4.4% | 1.0% | | | | | |