| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 5257 | 3985 | 4261 | 4170 | 3909 | | 4499 | |
| TSE:5257 | TSE:3985 | TSE:4261 | TSE:4170 | TSE:3909 | | TSE:4499 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | NM- | NM- | 21.0% | 27.3% | 32.7% | | 16.2% | |
| 3Y CAGR | 15.7% | -8.8% | 22.0% | 26.0% | 57.4% | | 7.4% | |
| Latest Twelve Months | 19.2% | -18.9% | 29.4% | 4.1% | 9.3% | | 11.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 7.2% | 1.0% | 11.1% | -0.9% | -2.4% | | 7.6% | |
| Prior Fiscal Year | 9.1% | -3.5% | 9.9% | -0.6% | -4.9% | | 6.0% | |
| Latest Fiscal Year | 8.2% | -3.1% | 11.3% | -0.6% | -2.6% | | 3.4% | |
| Latest Twelve Months | 8.2% | -0.5% | 11.3% | -0.6% | -2.6% | | 2.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.54x | 0.95x | 0.56x | 0.15x | 0.62x | | 1.54x | |
| EV / LTM EBIT | 6.6x | -189.5x | 4.9x | -24.0x | -23.3x | | 55.7x | |
| Price / LTM Sales | 0.65x | 1.20x | 0.94x | 0.63x | 0.46x | | 1.82x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.15x | 0.56x | 0.95x | | | | | |
| Historical EV / LTM Revenue | 1.47x | 2.15x | 3.53x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.71x | 1.80x | 1.89x | | | | | |
| (x) LTM Revenue | 15,863 | 15,863 | 15,863 | | | | | |
| (=) Implied Enterprise Value | 27,189 | 28,620 | 30,051 | | | | | |
| (-) Non-shareholder Claims * | 4,361 | 4,361 | 4,361 | | | | | |
| (=) Equity Value | 31,550 | 32,981 | 34,412 | | | | | |
| (/) Shares Outstanding | 11.4 | 11.4 | 11.4 | | | | | |
| Implied Value Range | 2,758.68 | 2,883.80 | 3,008.92 | | | | | |
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2,758.68 | 2,883.80 | 3,008.92 | | 2,521.00 | | | |
| Upside / (Downside) | 9.4% | 14.4% | 19.4% | | | | | |