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On The Page, Inc.

9160.T

JPXConsumer CyclicalPersonal Products & Services

Latest quote

¥327

−¥1.00 · -0.30%

Aug 24, 1:25 PM JST

9160.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Novarese, Inc. operates extensively in the wedding and hospitality industries, both domestically in Japan and across international markets. The company delivers a full spectrum of wedding services, covering everything from initial venue guidance and detailed event planning to culinary and gift selections, and flawless day-of coordination. It also manages dress boutiques under the NOVARESE and ECRUSPOSE brands, which offer sales and rentals of wedding gowns, tuxedos, traditional Japanese clothing, and attire for wedding guests. Furthermore, Novarese runs wedding banquet halls and a chain of restaurants. Supporting these core activities, the company provides floral design, alongside professional photography and videography for matrimonial ceremonies, corporate functions, and other special gatherings. Additional services include the WEDO system for marriage preparation support, curating gifts for the bridal couple and their guests, and broader business support solutions. The firm's advertising agency division provides comprehensive services, encompassing creative planning, visual content production, graphic design, promotional tool development, media buying, and the planning and management of PR events. Founded in 2000, the company was initially known as Workaholic Co., Ltd. until its rebranding to Novarese, Inc. in December 2002. Its headquarters are situated in Chuo, Japan.

Industry
Personal Products & Services
Sector
Consumer Cyclical
Headquarters
JP
CEO
Hiroki Ogino
Listed since
Jun 30, 2023
Employees
1,099

Market position

Day range

Current ¥327

52-week range

Current ¥327

Open
¥326
Previous close
¥328
Volume
23.2K
0.67× average
Average volume
34.55K
Average daily volume
Market cap
8.2B JPY
Beta
-0.16
Market reference 1
50-day average
¥298.64
+9.50% above average
200-day average
¥308.64
+5.95% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
16.79B JPY
P/E (TTM)
6.34×
P/B (TTM)
0.7×
P/S (TTM)
0.28×
EV / EBITDA
3.55×
Earnings yield
16.03%
Free cash flow yield
28.98%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
53.88%
Operating margin
8.59%
Net margin
4.66%
Return on equity
12.43%
Return on assets
3.41%
Return on invested capital
5.07%

Financial health

Debt / equity
3.23×
Current ratio
0.39×
Altman Z-score
0.84
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends65%41%18%-5%Gross margin, FY2021: 57.16%Gross margin, FY2022: 58.89%Gross margin, FY2023: 55.76%Gross margin, FY2024: 56.27%Gross margin, FY2025: 55.52%Operating margin, FY2021: 0.68%Operating margin, FY2022: 16.12%Operating margin, FY2023: 8.56%Operating margin, FY2024: 6.81%Operating margin, FY2025: 10.12%Net margin, FY2021: 3.34%Net margin, FY2022: 9.62%Net margin, FY2023: 5.16%Net margin, FY2024: 3.44%Net margin, FY2025: 5.70%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 57.16%. Gross margin FY2022 58.89%. Gross margin FY2023 55.76%. Gross margin FY2024 56.27%. Gross margin FY2025 55.52%. Operating margin FY2021 0.68%. Operating margin FY2022 16.12%. Operating margin FY2023 8.56%. Operating margin FY2024 6.81%. Operating margin FY2025 10.12%. Net margin FY2021 3.34%. Net margin FY2022 9.62%. Net margin FY2023 5.16%. Net margin FY2024 3.44%. Net margin FY2025 5.70%.

Income trends

Revenue

22.04B JPY+14.20%

Operating income

2.23B JPY+69.81%

Net income

1.26B JPY+89.27%
Income trends across reported periods24.24B JPY15.45B JPY6.67B JPY−2.12B JPYRevenue, FY2021: 11.19B JPYRevenue, FY2022: 17.22B JPYRevenue, FY2023: 18.27B JPYRevenue, FY2024: 19.3B JPYRevenue, FY2025: 22.04B JPYOperating income, FY2021: 76.3M JPYOperating income, FY2022: 2.78B JPYOperating income, FY2023: 1.56B JPYOperating income, FY2024: 1.31B JPYOperating income, FY2025: 2.23B JPYNet income, FY2021: 374.03M JPYNet income, FY2022: 1.66B JPYNet income, FY2023: 942.27M JPYNet income, FY2024: 663.9M JPYNet income, FY2025: 1.26B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 11.19B JPY. Revenue FY2022 17.22B JPY. Revenue FY2023 18.27B JPY. Revenue FY2024 19.3B JPY. Revenue FY2025 22.04B JPY. Operating income FY2021 76.3M JPY. Operating income FY2022 2.78B JPY. Operating income FY2023 1.56B JPY. Operating income FY2024 1.31B JPY. Operating income FY2025 2.23B JPY. Net income FY2021 374.03M JPY. Net income FY2022 1.66B JPY. Net income FY2023 942.27M JPY. Net income FY2024 663.9M JPY. Net income FY2025 1.26B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue22.04B JPY19.3B JPY18.27B JPY17.22B JPY11.19B JPY
Cost of goods sold9.8B JPY8.44B JPY8.08B JPY7.08B JPY4.79B JPY
Gross profit12.24B JPY10.86B JPY10.18B JPY10.14B JPY6.4B JPY
Selling, general, and administrative10B JPY9.55B JPY8.62B JPY7.66B JPY6.32B JPY
Operating expenses10B JPY9.55B JPY8.65B JPY7.66B JPY6.32B JPY
Interest income14.01M JPY31.55M JPY22.48M JPY36.09M JPY10.43M JPY
Interest expense439.08M JPY395.17M JPY332.32M JPY344.66M JPY311.05M JPY
Depreciation and amortization2.5B JPY2.48B JPY2.34B JPY2.1B JPY2.08B JPY
Operating income2.23B JPY1.31B JPY1.56B JPY2.78B JPY76.3M JPY
Net income1.26B JPY663.9M JPY942.27M JPY1.66B JPY374.03M JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
14.92

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates51.529.77.89-13.91Q4 '24Q1 '25Q2 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 14, 2024: actual -9.4, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 14, 2025: actual 36.76, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 15, 2025: actual -4.84, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Jun 30, 2025: actual 13.49, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Sep 30, 2025: actual -5.48, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 13, 2026: actual 46.99, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 15, 2026: actual -4.88, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 14, 2026: actual 14.92, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates12.72B9.6B6.48B3.37BQ1 '25BeatQ2 '25MissQ2 '25BeatQ3 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 14, 2025: actual 6.75B JPY, estimate 3.96B JPY, surprise +70.43%, Beat. Q2 2025, reported May 15, 2025: actual 4.16B JPY, estimate 5.1B JPY, surprise -18.42%, Miss. Q2 2025, reported Jun 30, 2025: actual 5.54B JPY, estimate 5.1B JPY, surprise +8.72%, Beat. Q3 2025, reported Sep 30, 2025: actual 4.48B JPY, estimate 4.08B JPY, surprise +9.83%, Beat. Q1 2026, reported Feb 13, 2026: actual 7.86B JPY, estimate 7.02B JPY, surprise +11.95%, Beat. Q2 2026, reported May 15, 2026: actual 4.74B JPY, estimate 4.2B JPY, surprise +12.81%, Beat. Q3 2026, reported Aug 14, 2026: actual 12.07B JPY, estimate 10.36B JPY, surprise +16.47%, Beat. Q4 2026, reported Nov 13, 2026: actual —, estimate 8.49B JPY, surprise —, Comparison unavailable.

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