| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 4398 | 3996 | 4166 | 7072 | 4261 | | 4413 | |
| TSE:4398 | TSE:3996 | TSE:4166 | TSE:7072 | TSE:4261 | | TSE:4413 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 12.0% | 1.8% | -0.3% | NM- | 21.0% | | NM- | |
| 3Y CAGR | 14.1% | 12.9% | -8.3% | 14.1% | 22.0% | | NM- | |
| Latest Twelve Months | 0.2% | 8.0% | -22.9% | 3.1% | 29.4% | | 50.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 8.6% | -10.7% | -0.5% | 3.5% | 11.1% | | 20.7% | |
| Prior Fiscal Year | 9.0% | -4.3% | -11.3% | 4.7% | 9.9% | | 18.6% | |
| Latest Fiscal Year | 10.7% | 3.5% | -34.1% | 2.9% | 11.3% | | 21.4% | |
| Latest Twelve Months | 6.6% | 8.3% | -34.1% | 4.3% | 11.3% | | 20.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.81x | 1.24x | 1.34x | 0.33x | 0.56x | | 7.38x | |
| EV / LTM EBIT | 12.2x | 14.8x | -3.9x | 7.8x | 4.9x | | 35.4x | |
| Price / LTM Sales | 1.03x | 1.83x | 2.32x | 0.85x | 0.94x | | 7.73x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.33x | 0.81x | 1.34x | | | | | |
| Historical EV / LTM Revenue | 7.15x | 7.15x | 7.15x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 6.14x | 6.46x | 6.78x | | | | | |
| (x) LTM Revenue | 10,363 | 10,363 | 10,363 | | | | | |
| (=) Implied Enterprise Value | 63,596 | 66,944 | 70,291 | | | | | |
| (-) Non-shareholder Claims * | 3,673 | 3,673 | 3,673 | | | | | |
| (=) Equity Value | 67,269 | 70,617 | 73,964 | | | | | |
| (/) Shares Outstanding | 15.5 | 15.5 | 15.5 | | | | | |
| Implied Value Range | 4,347.33 | 4,563.64 | 4,779.95 | | | | | |
| FX Rate: JPY/JPY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 4,347.33 | 4,563.64 | 4,779.95 | | 5,180.00 | | | |
| Upside / (Downside) | -16.1% | -11.9% | -7.7% | | | | | |