Upcoming Dividend • Jun 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 17 September 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.6%). Announcement • May 26
Nakanishi Inc. to Report Q2, 2026 Results on Aug 07, 2026 Nakanishi Inc. announced that they will report Q2, 2026 results on Aug 07, 2026 Reported Earnings • May 17
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥47.93 (up from JP¥5.23 in 1Q 2025). Revenue: JP¥22.5b (up 21% from 1Q 2025). Net income: JP¥3.98b (up JP¥3.54b from 1Q 2025). Profit margin: 18% (up from 2.4% in 1Q 2025). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 52%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Live News • May 17
Nakanishi Delivers Strong Q1 With Broad Sales Gains and Plans for Higher Dividend Nakanishi reported Q1 2026 net sales up 21.3% year over year, with all business segments posting double-digit growth.
Net income for the quarter reached ¥3,980 million, described as rising by more than 8x compared with the prior-year period.
Management kept full-year guidance unchanged and announced plans to raise the annual dividend, citing a strong balance sheet and an intention to return more cash to shareholders.
The combination of broad-based sales growth and a very large increase in net income points to improved profitability across Nakanishi’s operations early in the fiscal year.
For investors, key considerations include how sustainable this earnings strength and higher dividend level may be, and whether the unchanged guidance already reflects most of the recent momentum. Price Target Changed • Apr 23
Price target increased by 7.6% to JP¥3,180 Up from JP¥2,956, the current price target is an average from 6 analysts. New target price is 14% above last closing price of JP¥2,797. Stock is up 52% over the past year. The company is forecast to post earnings per share of JP¥141 next year compared to a net loss per share of JP¥28.70 last year. Declared Dividend • Apr 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th June 2026 Payment date: 17th September 2026 Dividend yield will be 2.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (44% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Price Target Changed • Mar 28
Price target increased by 10% to JP¥3,076 Up from JP¥2,796, the current price target is an average from 5 analysts. New target price is 12% above last closing price of JP¥2,735. Stock is up 25% over the past year. The company is forecast to post earnings per share of JP¥142 next year compared to a net loss per share of JP¥28.70 last year. Announcement • Feb 21
Nakanishi Inc. to Report Q1, 2026 Results on May 14, 2026 Nakanishi Inc. announced that they will report Q1, 2026 results on May 14, 2026 Price Target Changed • Feb 20
Price target increased by 7.7% to JP¥2,736 Up from JP¥2,540, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥2,610. Stock is up 23% over the past year. The company is forecast to post earnings per share of JP¥133 next year compared to a net loss per share of JP¥28.70 last year. New Risk • Feb 17
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 2.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 14
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: JP¥28.70 loss per share (down from JP¥101 profit in FY 2024). Revenue: JP¥81.2b (up 5.4% from FY 2024). Net loss: JP¥2.40b (down 128% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Feb 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to JP¥2,412. The fair value is estimated to be JP¥1,985, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 24 March 2026. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Announcement • Dec 03
Nakanishi Inc. to Report Fiscal Year 2025 Results on Feb 12, 2026 Nakanishi Inc. announced that they will report fiscal year 2025 results on Feb 12, 2026 Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: JP¥32.08 (vs JP¥12.48 in 3Q 2024) Third quarter 2025 results: EPS: JP¥32.08 (up from JP¥12.48 in 3Q 2024). Revenue: JP¥19.6b (up 8.3% from 3Q 2024). Net income: JP¥2.67b (up 154% from 3Q 2024). Profit margin: 14% (up from 5.8% in 3Q 2024). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Declared Dividend • Sep 18
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th December 2025 Payment date: 24th March 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 67% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 23
Nakanishi Inc. to Report Q3, 2025 Results on Nov 07, 2025 Nakanishi Inc. announced that they will report Q3, 2025 results on Nov 07, 2025 Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: JP¥36.74 (vs JP¥43.22 in 2Q 2024) Second quarter 2025 results: EPS: JP¥36.74 (down from JP¥43.22 in 2Q 2024). Revenue: JP¥20.6b (up 1.2% from 2Q 2024). Net income: JP¥3.07b (down 16% from 2Q 2024). Profit margin: 15% (down from 18% in 2Q 2024). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year. Major Estimate Revision • Jun 12
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥118 to JP¥105 per share. Revenue forecast steady at JP¥80.9b. Net income forecast to grow 65% next year vs 7.2% growth forecast for Medical Equipment industry in Japan. Consensus price target down from JP¥2,933 to JP¥2,833. Share price was steady at JP¥1,924 over the past week. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: JP¥5.22 (vs JP¥39.67 in 1Q 2024) First quarter 2025 results: EPS: JP¥5.22 (down from JP¥39.67 in 1Q 2024). Revenue: JP¥18.5b (up 2.1% from 1Q 2024). Net income: JP¥440.0m (down 87% from 1Q 2024). Profit margin: 2.4% (down from 19% in 1Q 2024). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Announcement • May 12
Nakanishi Inc. Provides Earnings Forecast for the First-Half Ending June 30, 2025 and Full Year of Fiscal Year Ending December 31, 2025 Nakanishi Inc. provided earnings forecast for the first-half ending June 30, 2025 and full year of fiscal year ending December 31, 2025. For the first-half, the company expects net sales of JPY 38,616 million, Operating income of JPY 5,478 million, Income attributable to owners of parent of JPY 2,727 million, Earnings per share of JPY 32.30 against previous guidance of net sales of JPY 38,616 million, Operating income of JPY 5,478 million, Income attributable to owners of parent of JPY 3,927 million, Earnings per share of JPY 46.51.
For the Full year, the company expects net sales of JPY 80,655 million, Operating income of JPY 13,150 million, Income attributable to owners of parent of JPY 8,372 million, Earnings per share of JPY 99.14 against previous guidance net sales of JPY 80,655 million, Operating income of JPY 13,150 million, Income attributable to owners of parent of JPY 9,572 million, Earnings per share of JPY 113.34. Announcement • Apr 12
Nakanishi Inc. to Report Q2, 2025 Results on Aug 08, 2025 Nakanishi Inc. announced that they will report Q2, 2025 results on Aug 08, 2025 Declared Dividend • Apr 11
Final dividend of JP¥26.00 announced Dividend of JP¥26.00 is the same as last year. Ex-date: 27th June 2025 Payment date: 17th September 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,791, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Medical Equipment industry in Japan. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,428 per share. Reported Earnings • Mar 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥101 (down from JP¥268 in FY 2023). Revenue: JP¥77.0b (up 29% from FY 2023). Net income: JP¥8.58b (down 62% from FY 2023). Profit margin: 11% (down from 38% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 17
Nakanishi Inc. to Report Q1, 2025 Results on May 12, 2025 Nakanishi Inc. announced that they will report Q1, 2025 results on May 12, 2025 Price Target Changed • Mar 05
Price target decreased by 8.3% to JP¥3,025 Down from JP¥3,300, the current price target is an average from 4 analysts. New target price is 46% above last closing price of JP¥2,078. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥124 for next year compared to JP¥101 last year. Price Target Changed • Feb 27
Price target decreased by 10% to JP¥2,963 Down from JP¥3,300, the current price target is an average from 4 analysts. New target price is 39% above last closing price of JP¥2,129. Stock is down 11% over the past year. The company is forecast to post earnings per share of JP¥125 for next year compared to JP¥101 last year. Reported Earnings • Feb 14
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥101 (down from JP¥268 in FY 2023). Revenue: JP¥77.0b (up 29% from FY 2023). Net income: JP¥8.58b (down 62% from FY 2023). Profit margin: 11% (down from 38% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.0%). Major Estimate Revision • Dec 12
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥77.3b to JP¥76.4b. EPS estimate also fell from JP¥128 per share to JP¥114 per share. Net income forecast to grow 22% next year vs 17% growth forecast for Medical Equipment industry in Japan. Consensus price target of JP¥3,180 unchanged from last update. Share price rose 5.1% to JP¥2,423 over the past week. Announcement • Dec 10
Nakanishi Inc. to Report Fiscal Year 2024 Results on Feb 12, 2025 Nakanishi Inc. announced that they will report fiscal year 2024 results on Feb 12, 2025 New Risk • Nov 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 46% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,232, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Medical Equipment industry in Japan. Total returns to shareholders of 1.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,847 per share. Announcement • Aug 29
Nakanishi Inc. to Report Q3, 2024 Results on Nov 14, 2024 Nakanishi Inc. announced that they will report Q3, 2024 results on Nov 14, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥43.22 (vs JP¥56.46 in 2Q 2023) Second quarter 2024 results: EPS: JP¥43.22 (down from JP¥56.46 in 2Q 2023). Revenue: JP¥20.4b (up 39% from 2Q 2023). Net income: JP¥3.65b (down 24% from 2Q 2023). Profit margin: 18% (down from 33% in 2Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 11
Dividend of JP¥26.00 announced Dividend of JP¥26.00 is the same as last year. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (169% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 23% over the next 3 years. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥2,010, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Medical Equipment industry in Japan. Total loss to shareholders of 6.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,540 per share. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 17 September 2024. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.0%). Announcement • Jun 02
Nakanishi Inc. to Report Q2, 2024 Results on Aug 09, 2024 Nakanishi Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 12
First quarter 2024 earnings released: EPS: JP¥39.67 (vs JP¥38.83 in 1Q 2023) First quarter 2024 results: EPS: JP¥39.67 (up from JP¥38.83 in 1Q 2023). Revenue: JP¥18.2b (up 33% from 1Q 2023). Net income: JP¥3.38b (up 2.1% from 1Q 2023). Profit margin: 19% (down from 24% in 1Q 2023). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.7% to JP¥2,312. The fair value is estimated to be JP¥2,891, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are forecast to decline by 8.1% per annum over the same time period. Declared Dividend • Apr 11
Final dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 27th June 2024 Payment date: 17th September 2024 Dividend yield will be 2.3%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (17% earnings payout ratio) but not covered by cash flows (169% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 23% over the next 3 years. However, it would need to fall by 82% to increase the payout ratio to a potentially unsustainable range. Buy Or Sell Opportunity • Apr 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.4% to JP¥2,266. The fair value is estimated to be JP¥2,863, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are forecast to decline by 8.1% per annum over the same time period. Major Estimate Revision • Mar 15
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥76.6b to JP¥74.8b. EPS estimate also fell from JP¥131 per share to JP¥103 per share. Net income forecast to shrink 62% next year vs 18% growth forecast for Medical Equipment industry in Japan . Consensus price target down from JP¥3,595 to JP¥3,320. Share price fell 2.6% to JP¥2,350 over the past week. Announcement • Mar 02
Nakanishi Inc. to Report Q1, 2024 Results on May 10, 2024 Nakanishi Inc. announced that they will report Q1, 2024 results on May 10, 2024 Announcement • Feb 21
Nakanishi Inc. (TSE:7716) announces an Equity Buyback for 1,100,000 shares, representing 1.17% for ¥2,000 million. Nakanishi Inc. (TSE:7716) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 1.17% of its issued share capital, for a total purchase price of ¥2,000 million. The purpose of the program is to enhance shareholder returns and to enable performing flexible capital policies corresponding to the change in the business environment. The repurchased shares will be cancelled. The program will continue through March 22, 2024. As of December 31, 2023, the company had 94,259,400 issued shares (excluding treasury stock) and 8,964,612 treasury shares. New Risk • Feb 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 11% per year for the foreseeable future. High level of non-cash earnings (27% accrual ratio). Minor Risk Dividend is not well covered by cash flows (172% cash payout ratio). Buy Or Sell Opportunity • Feb 16
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to JP¥2,152. The fair value is estimated to be JP¥1,782, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are forecast to decline by 11% per annum over the same time period. Reported Earnings • Feb 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥268 (up from JP¥145 in FY 2022). Revenue: JP¥59.7b (up 23% from FY 2022). Net income: JP¥22.8b (up 83% from FY 2022). Profit margin: 38% (up from 26% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Feb 01
Price target decreased by 11% to JP¥3,595 Down from JP¥4,060, the current price target is an average from 4 analysts. New target price is 50% above last closing price of JP¥2,401. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥213 for next year compared to JP¥145 last year. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥26.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 8.3% and the cash payout ratio is 97%. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.0%). Announcement • Dec 14
Nakanishi Inc. to Report Fiscal Year 2023 Results on Feb 13, 2024 Nakanishi Inc. announced that they will report fiscal year 2023 results on Feb 13, 2024 Major Estimate Revision • Nov 20
Consensus EPS estimates increase by 21%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from JP¥63.7b to JP¥58.4b. EPS estimate rose from JP¥148 to JP¥179. Net income forecast to shrink 45% next year vs 12% growth forecast for Medical Equipment industry in Japan . Consensus price target down from JP¥4,060 to JP¥3,927. Share price fell 5.1% to JP¥2,534 over the past week. New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: JP¥167 (vs JP¥40.41 in 3Q 2022) Third quarter 2023 results: EPS: JP¥167 (up from JP¥40.41 in 3Q 2022). Revenue: JP¥13.0b (up 11% from 3Q 2022). Net income: JP¥14.3b (up 313% from 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be JP¥3,979, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings is also forecast to grow by 5.9% per annum over the same time period. Price Target Changed • Sep 05
Price target increased by 9.9% to JP¥4,060 Up from JP¥3,693, the current price target is an average from 3 analysts. New target price is 12% above last closing price of JP¥3,625. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥148 for next year compared to JP¥145 last year. Announcement • Aug 30
Nakanishi Inc. to Report Q3, 2023 Results on Nov 10, 2023 Nakanishi Inc. announced that they will report Q3, 2023 results on Nov 10, 2023 Announcement • Aug 22
Nakanishi Inc. Revises Financial Guidance for the Fiscal Year Ending Dec. 31, 2023 Nakanishi Inc. revised financial guidance for the fiscal year ending Dec. 31, 2023. For the period, the company expected net sales of JPY 63,164 million against the previous guidance of JPY 56,638 million, operating profit of JPY 16,618 million against the previous guidance of JPY 15,972 million, Profit attributable to owners of parent of JPY 13,894 million against the previous guidance of JPY 13,842 million and EPS of JPY 162.77 against the previous guidance of JPY163.37. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: JP¥56.46 (vs JP¥42.02 in 2Q 2022) Second quarter 2023 results: EPS: JP¥56.46 (up from JP¥42.02 in 2Q 2022). Revenue: JP¥14.6b (up 17% from 2Q 2022). Net income: JP¥4.80b (up 33% from 2Q 2022). Profit margin: 33% (up from 29% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 29% per year. Announcement • Aug 08
Nakanishi Inc. (TSE:7716) announces an Equity Buyback for 1,000,000 shares, representing 1.18% for ¥2,500 million. Nakanishi Inc. (TSE:7716) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 0.28% of its issued share capital, for a total purchase price of ¥2,500 million. The purpose of the program is to enhance shareholder returns and to enable performing flexible capital policies corresponding to the change in the business environment. The program will continue through November 10, 2023. As of June 30, 2023, the company had 84,977,116 issued shares (excluding treasury stock) and 9,282,284 treasury shares. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥24.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 02 October 2023. Payout ratio is a comfortable 31% and the cash payout ratio is 95%. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (0.9%). Announcement • Jun 02
Nakanishi Inc. to Report Q2, 2023 Results on Aug 07, 2023 Nakanishi Inc. announced that they will report Q2, 2023 results on Aug 07, 2023 Reported Earnings • May 14
First quarter 2023 earnings released: EPS: JP¥38.83 (vs JP¥36.49 in 1Q 2022) First quarter 2023 results: EPS: JP¥38.83 (up from JP¥36.49 in 1Q 2022). Revenue: JP¥13.6b (up 14% from 1Q 2022). Net income: JP¥3.31b (up 5.2% from 1Q 2022). Profit margin: 24% (down from 26% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 06
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥3,172, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 6.9% per annum over the same time period. 