Added to YB: 2026-07-09
Pitch date: 2026-07-07
212A.T [bullish]
FIT EASY Inc.
-1.38%
current return
Author Info
No bio for this author
Company Info
FIT EASY Inc. engages in planning, operation, and franchise development of fitness clubs in Japan. Its amusement facilities include saunas, golf, self-esthetics, o2 room, aero, baseball, laundry, fit-whitening, pilates, race, ride, tennis, futsul, tanning, and bouldering services.
Market Cap
JPY 47.5B
Pitch Price
JPY 2.9K
Price Target
8.8K (+208%)
Dividend
1.39%
EV/EBITDA
16.90
P/E
28.67
EV/Sales
4.20
Sector
Hotels, Restaurants and Leisure
Category
growth
FitEasy – A Hidden Compounder and Our Largest Position
212A.T: Japanese asset-light gym franchise platform, largest position (~14% cost). 60% YoY earnings growth, 30%+ guidance, 13x EV/EBIT, uncovered. Underpenetrated market (6% vs US 20%). Thesis: franchise royalties (60% EBIT) drive margin expansion. 19mo double-digit same-store growth. Base case 3.1x/207% upside, ~57% IRR over 2.5yrs.
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