| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 8022 | 7951 | 7990 | 7944 | 6430 | | 2767 | |
| TSE:8022 | TSE:7951 | TSE:7990 | TSE:7944 | TSE:6430 | | TSE:2767 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.2% | 1.1% | 7.5% | 9.5% | 11.6% | | 22.8% | |
| 3Y CAGR | 15.2% | 7.5% | 7.9% | 7.5% | 32.4% | | 54.1% | |
| Latest Twelve Months | 1.9% | 3.7% | -1.1% | -2.9% | 10.7% | | -22.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 5.5% | 9.4% | 7.5% | 11.7% | 10.9% | | 4.9% | |
| Prior Fiscal Year | 6.1% | 10.4% | 9.0% | 11.6% | 12.6% | | 9.3% | |
| Latest Fiscal Year | 7.5% | 7.3% | 5.9% | 10.0% | 22.3% | | 8.3% | |
| Latest Twelve Months | 8.2% | 8.3% | 4.5% | 10.0% | NA | | 7.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.73x | 0.79x | 0.44x | 1.04x | 0.43x | | 0.78x | |
| EV / LTM EBIT | 8.8x | 9.5x | 9.9x | 10.4x | 2.1x | | 10.3x | |
| Price / LTM Sales | 0.85x | 1.16x | 0.37x | 1.01x | 0.67x | | 0.98x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.43x | 0.73x | 1.04x | | | | | |
| Historical EV / LTM Revenue | -0.17x | 0.09x | 1.01x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.59x | 0.62x | 0.65x | | | | | |
| (x) LTM Revenue | 116,481 | 116,481 | 116,481 | | | | | |
| (=) Implied Enterprise Value | 68,222 | 71,813 | 75,403 | | | | | |
| (-) Non-shareholder Claims * | 22,738 | 22,738 | 22,738 | | | | | |
| (=) Equity Value | 90,960 | 94,551 | 98,141 | | | | | |
| (/) Shares Outstanding | 62.2 | 62.2 | 62.2 | | | | | |
| Implied Value Range | 1,462.24 | 1,519.96 | 1,577.68 | | | | | |
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1,462.24 | 1,519.96 | 1,577.68 | | 1,828.00 | | | |
| Upside / (Downside) | -20.0% | -16.9% | -13.7% | | | | | |