Financials KOSÉ Corporation

Equities

4922

JP3283650004

Personal Products

Delayed Japan Exchange Other stock markets 06:30:00 11/12/2025 GMT			5-day change	1st Jan Change
5,321.00 ^JPY	+0.55%		+1.33%	-25.88%

11-25	Jefferies Downgrades Kosé to Underperform from Hold, Adjusts Price Target to 4,300 Yen From 5,800 Yen	MT
05-23	KOSÉ Completes Disposal of Treasury Shares for Restricted Stock Compensation	MT

Projected Income Statement: KOSÉ Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	327,724	224,983	289,136	300,406	322,700	329,324	339,523	351,686
Change	-	-31.35%	28.51%	3.9%	7.42%	2.05%	3.1%	3.58%
EBITDA ¹	49,864	27,279	32,822	26,567	27,000	29,008	32,862	35,886
Change	-	-45.29%	20.32%	-19.06%	1.63%	7.44%	13.29%	9.2%
EBIT ¹	40,231	18,852	22,120	15,985	17,300	18,305	20,463	22,764
Change	-	-53.14%	17.34%	-27.74%	8.23%	5.81%	11.79%	11.25%
Interest Paid ¹	-7	-12	-60	-11	-7	-39	-	-
Earnings before Tax (EBT) ¹	40,365	21,335	27,867	19,506	18,600	20,048	21,539	24,288
Change	-	-47.14%	30.62%	-30%	-4.64%	7.79%	7.44%	12.77%
Net income ¹	26,682	13,341	18,771	11,663	7,500	12,613	13,633	15,199
Change	-	-50%	40.7%	-37.87%	-35.69%	68.17%	8.09%	11.49%
Announcement Date	30/04/20	14/02/22	13/02/23	13/02/24	12/02/25	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	78,261	78,690	58,770	64,163	102,050	59,013	71,591	70,283	88,249	68,158	76,137	74,666	81,445	77,583	81,550	79,592	83,975	78,998	81,526	79,986	87,961	77,150	81,100	83,000	97,150
Change	-	0.55%	-25.31%	9.18%	59.05%	-42.17%	21.31%	-1.83%	25.56%	-22.77%	11.71%	-1.93%	9.08%	-4.74%	5.11%	-2.4%	5.51%	-5.93%	3.2%	-1.89%	9.97%	-12.29%	5.12%	2.34%	17.05%
EBITDA	-	-	-	-	-	-	9,329	8,063	12,472	8,341	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-13.57%	54.68%	-33.12%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	9,536	2,381	3,456	5,333	10,063	370	6,839	5,272	9,639	5,833	4,587	5,609	-44	7,902	5,846	5,067	-1,515	6,659	4,660	2,256	4,924	6,300	5,350	4,150	4,350
Change	-	-75.03%	45.15%	54.31%	88.69%	-96.32%	1,748.38%	-22.91%	82.83%	-39.49%	-21.36%	22.28%	-100.78%	18,059.09%	-26.02%	-13.33%	-129.9%	539.54%	-30.02%	-51.59%	118.28%	27.93%	-15.08%	-22.43%	4.82%
Charge d'intérêts	-1	-	-	-	-	-26	-	-	-	-15	-	-	-	-1	-	-	-	-15	-	-7	-	-	-	-	-
Earnings before Tax (EBT) ¹	10,216	2,168	3,699	5,874	11,762	2,885	12,036	7,254	5,692	6,294	-	6,943	-	10,273	8,411	-192	164	7,663	4,501	3,914	5,804	-	-	-	-
Change	-	-78.78%	70.62%	58.8%	100.24%	-75.47%	317.19%	-39.73%	-21.53%	10.58%	-	-	-	-	-18.13%	-102.28%	185.42%	4,572.56%	-41.26%	-13.04%	48.28%	-	-	-	-
Net income ¹	6,681	1,809	2,378	3,081	7,882	1,437	7,446	4,958	4,930	3,897	4,800	4,451	-1,485	6,943	4,667	-2,198	-1,912	5,292	1,804	2,291	3,330	-	-	-	-
Change	-	-72.92%	31.45%	29.56%	155.83%	-81.77%	418.16%	-33.41%	-0.56%	-20.95%	23.17%	-7.27%	-133.36%	567.54%	-32.78%	-147.1%	13.01%	376.78%	-65.91%	27%	45.33%	-	-	-	-
Announcement Date	31/01/20	30/04/20	30/07/21	29/10/21	14/02/22	12/05/22	10/08/22	11/11/22	13/02/23	11/05/23	09/08/23	13/11/23	13/02/24	08/05/24	07/08/24	11/11/24	12/02/25	09/05/25	07/08/25	10/11/25	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	134,024	102,050	130,604	158,532	144,295	156,111	159,133	163,567	160,524	167,100	154,500	183,700
Change	-	-23.86%	27.98%	21.38%	-8.98%	8.19%	1.94%	2.79%	-1.86%	4.1%	-7.54%	18.9%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5,609	10,063	7,209	14,911	10,420	5,565	13,748	3,552	11,319	7,600	12,200	8,100
Change	-	79.41%	-28.36%	106.84%	-30.12%	-46.59%	147.04%	-74.16%	218.67%	-32.86%	60.53%	-33.61%
Charge d'intérêts	-	-	-29	-	-9	-	-7	-	-32	-	-	-
Earnings before Tax (EBT)	8,887	-	14,921	-	13,636	-	18,684	-	12,164	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
Net income	5,683	-	8,883	-	8,697	-	11,610	-	7,096	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	30/07/21	14/02/22	10/08/22	13/02/23	09/08/23	13/02/24	07/08/24	12/02/25	07/08/25	-	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: KOSÉ Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-95,903	-103,865	-106,553	-35,000	-102,748	-101,599	-105,673	-113,161
Change	-	-8.3%	-2.59%	67.15%	-193.57%	1.12%	-4.01%	-7.09%
Announcement Date	30/04/20	14/02/22	13/02/23	13/02/24	12/02/25	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: KOSÉ Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	19,874	5,149	6,847	11,200	21,400	24,583	19,733	17,233
Change	-	-74.09%	32.98%	63.58%	91.07%	14.88%	-19.73%	-12.67%
Free Cash Flow (FCF) ¹	18,084	13,077	13,950	19,200	9,447	7,493	12,237	15,532
Change	-	-27.69%	6.68%	37.63%	-50.8%	-20.68%	63.31%	26.92%
Announcement Date	30/04/20	14/02/22	13/02/23	13/02/24	12/02/25	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: KOSÉ Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	15.22%	12.12%	11.35%	8.84%	8.37%	8.81%	9.68%	10.2%
EBIT Margin (%)	12.28%	8.38%	7.65%	5.32%	5.36%	5.56%	6.03%	6.47%
EBT Margin (%)	12.32%	9.48%	9.64%	6.49%	5.76%	6.09%	6.34%	6.91%
Net margin (%)	8.14%	5.93%	6.49%	3.88%	2.32%	3.83%	4.02%	4.32%
FCF margin (%)	5.52%	5.81%	4.82%	6.39%	2.93%	2.28%	3.6%	4.42%
FCF / Net Income (%)	67.78%	98.02%	74.32%	164.62%	125.96%	59.41%	89.76%	102.19%
Profitability
ROA	13.45%	4.25%	5.52%	5.54%	5.74%	3.54%	3.53%	4.14%
ROE	12.3%	6.03%	7.5%	4.4%	2.8%	4.64%	4.95%	5.4%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	6.06%	2.29%	2.37%	3.73%	6.63%	7.46%	5.81%	4.9%
CAPEX / EBITDA (%)	39.86%	18.88%	20.86%	42.16%	79.26%	84.75%	60.05%	48.02%
CAPEX / FCF (%)	109.9%	39.37%	49.08%	58.33%	226.53%	328.08%	161.26%	110.96%
Items per share
Cash flow per share ¹	622.7	312	499.8	371.9	303	-43.5	520.6	574.6
Change	-	-49.89%	60.18%	-25.59%	-18.54%	-114.36%	1,296.78%	10.37%
Dividend per Share ¹	190	120	140	140	140	140	144.2	148.3
Change	-	-36.84%	16.67%	0%	0%	0%	2.98%	2.89%
Book Value Per Share ¹	3,920	3,706	4,539	4,665	4,772	4,800	4,808	4,914
Change	-	-5.46%	22.48%	2.76%	2.29%	0.59%	0.16%	2.21%
EPS ¹	467.8	233.9	329	204.4	131.6	221	238.9	266.3
Change	-	-50%	40.7%	-37.87%	-35.62%	67.92%	8.1%	11.48%
Nbr of stocks (in thousands)	57,048	57,050	57,054	57,058	57,065	57,074	57,074	57,074
Announcement Date	30/04/20	14/02/22	13/02/23	13/02/24	12/02/25	-	-	-