Ichigo (TSE:2337) Following Weaker June Power Output, Is The Undervalued View Still Intact?
Why Ichigo’s June power figures matter for investors
Ichigo (TSE:2337) reported June 2026 operating data showing total power generation of 18,051,388 kWh and CO2 reduction of 7,782,822 kg, both below the levels reported in June 2025.
See our latest analysis for Ichigo.
Ichigo’s recent power generation update comes as the stock trades at ¥443, with a 1 year to date share price return of 0.45%, a 1 year total shareholder return of 10.75%, and a 3 year total shareholder return of 76.34%. This indicates that longer term investors have seen stronger gains even as recent 90 day share price momentum has faded with a decline of 10.32%.
If this energy output update has you thinking about other opportunities in power and infrastructure, it may be a good time to scan 34 power grid technology and infrastructure stocks
Ichigo’s long term returns and growth in revenue and net income point to a business that has delivered for shareholders. However, the recent power shortfall and softer 90 day share price raise a sharper question: is the stock still priced fairly today?
Most Popular Narrative: 6.7% Undervalued
Ichigo’s most followed narrative pegs fair value at ¥475 per share, slightly above the last close of ¥443. This helps frame today’s power data in a wider context.
The ongoing expansion and segmentation of their Asset Management and Sustainable Real Estate segments are expected to drive significant growth in AUM, positively affecting revenue and cash flow.
Read the complete narrative. Read the complete narrative.
Want to see what is really driving that fair value gap for Ichigo? Revenue, margins, and earnings are all wired into this thesis, along with a future valuation multiple that assumes more than just steady progress. Curious how those moving parts combine to justify the current target and discount rate?
Result: Fair Value of ¥475 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, Ichigo’s clean energy underperformance and sensitivity to higher borrowing costs could still pressure earnings and weaken the assumptions behind that 6.7% undervaluation gap.
Find out about the key risks to this Ichigo narrative.
Next Steps
With mixed signals around Ichigo’s power output, returns, and valuation, it makes sense to review the full picture for yourself and not just the headline view. To weigh up both sides of the story quickly, check the 4 key rewards and 3 important warning signs
Looking for more investment ideas beyond Ichigo?
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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