Japanese real estate platform LeTech [TSE:3497] has moved into value territory as its stock price has slumped. The PE ratio has dropped under 8x with an EBTDA margin at 9.34%.
LeTech is a real estate hub for Japanese consumers, and owns and operates YANUSY, a property platform that provides consumers with information on property available to buy or rent. It has also been active in the property development game in Japan.
LeTech was formerly called Legal Corporation, changing its name in 2021. The company has provided earnings guidance for the fiscal year ending July 31 2024, with net sales projected at JPY 21.4bn and operating profit at JPY 1.5bn. Profit is expected to come in at around JPY 1 billion or so. This puts earnings per share at just over the JPY 200 mark.
LeTech is one of those real estate companies which has been scoring well on the fundamentals, but where the shares have been sold off. Stock dropped off over the late summer from nearly JPY 1500 in Tokyo, to hit JPY 784 in trading in Tokyo early this week.
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