Today I will talk about GAKKYUSHA, which runs private classes, especially preparatory schools for
taking examinations for junior high schools, high schools and universities.
※The above images are from GAKKYUSHA’s website
GAKKYUSHA is known for its management of private classes named ena, based in western Tokyo, and I believe it is familiar to and often seen by those living in the western Tokyo area.
Even with the declining birthrate, GAKKYUSHA is actively opening classes with the aim of having the highest number of
successful applicants.
There is a concern of maintaining high profit margins if it expands, but it seems that they are reducing costs at the same time.
￥1,391（12/6 last closing price) The latest stock price← click here Trading unit: 100
The final month of the settlement: March Dividend yield 4.31% PER 14.79 PBR 4.00
Equity ratio 50.8%
Although private classes seem to have no future potential, GAKKYUSHA has a steady reputation mainly in the western Tokyo local area, so that both sales and operating profit are stable.
Shareholders should be grateful, because the company has a relatively high dividend payout ratio.
In addition to high dividends, once a year shareholders can receive 1,000 yen Quo card as a shareholders special benefit.
GAKKYUSHA special benefits ←Click here for details
Transition of business results
|
|
Net sales |
Operating profit |
Net profit |
Net profit per share |
dividend |
Dividend payout ratio |
|
2017.3 |
9,924 |
1,494 |
977 |
91.3 |
60 |
66% |
|
2018.3 |
10,304 |
1,579 |
1,004 |
91.0 |
60 |
66% |
|
2019.3 |
10,568 |
1,293 |
857 |
76.5 |
60 |
78% |
|
2020.3 |
11,000 |
1,700 |
1,100 |
98.8 |
60 |
61% |
※Unit of sales, operating profit, net income is one-million yen
※The figure for March 2020 is the predicted value
|
Cash flow statement |
2019.3 |
2018.3 |
|
CF operating activities |
1,280 |
1,433 |
|
CF investing activities |
▲1,336 |
▲1,110 |
|
CF financing activities |
239 |
259 |
※One unit is one million yen
Note: You should be responsible for your own investment. Please make your own final judgment.