Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,630, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Machinery industry in Japan. Total returns to shareholders of 357% over the past three years. Announcement • May 28
Daihatsu Infinearth Mfg.Co.,Ltd to Report Q1, 2027 Results on Jul 31, 2026 Daihatsu Infinearth Mfg.Co.,Ltd announced that they will report Q1, 2027 results on Jul 31, 2026 New Risk • May 12
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.5% average weekly change). New Risk • May 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Reported Earnings • May 09
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥233 (up from JP¥181 in FY 2025). Revenue: JP¥88.1b (flat on FY 2025). Net income: JP¥5.92b (up 3.6% from FY 2025). Profit margin: 6.7% (up from 6.4% in FY 2025). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,395, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Machinery industry in Japan. Total returns to shareholders of 497% over the past three years. New Risk • Apr 23
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 7.1% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,611, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Machinery industry in Japan. Total returns to shareholders of 337% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥62.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 33% 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 (1.6%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥62.56 (vs JP¥68.78 in 3Q 2025) Third quarter 2026 results: EPS: JP¥62.56 (down from JP¥68.78 in 3Q 2025). Revenue: JP¥19.6b (down 6.8% from 3Q 2025). Net income: JP¥1.59b (down 27% from 3Q 2025). Profit margin: 8.1% (down from 10% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 02
Daihatsu Infinearth Mfg.Co.,Ltd to Report Q3, 2026 Results on Jan 29, 2026 Daihatsu Infinearth Mfg.Co.,Ltd announced that they will report Q3, 2026 results on Jan 29, 2026 Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥36.89 (vs JP¥25.45 in 2Q 2025) Second quarter 2026 results: EPS: JP¥36.89 (up from JP¥25.45 in 2Q 2025). Revenue: JP¥20.6b (down 8.8% from 2Q 2025). Net income: JP¥938.0m (up 16% from 2Q 2025). Profit margin: 4.6% (up from 3.6% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery 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 increased by 76% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Announcement • Sep 01
Daihatsu Infinearth Mfg.Co.,Ltd to Report Q2, 2026 Results on Oct 30, 2025 Daihatsu Infinearth Mfg.Co.,Ltd announced that they will report Q2, 2026 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,595, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Machinery industry in Japan. Total returns to shareholders of 447% over the past three years. Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥46.14 (vs JP¥41.74 in 1Q 2025) First quarter 2026 results: EPS: JP¥46.14. Revenue: JP¥21.0b (up 3.0% from 1Q 2025). Net income: JP¥1.17b (down 11% from 1Q 2025). Profit margin: 5.6% (down from 6.5% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Announcement • Jun 29
Daihatsu Infinearth Mfg.Co.,Ltd to Report Q1, 2026 Results on Jul 30, 2025 Daihatsu Infinearth Mfg.Co.,Ltd announced that they will report Q1, 2026 results on Jul 30, 2025 Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,231, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 466% over the past three years. Reported Earnings • Apr 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥181 (up from JP¥163 in FY 2024). Revenue: JP¥88.8b (up 8.6% from FY 2024). Net income: JP¥5.72b (up 11% from FY 2024). Profit margin: 6.4% (up from 6.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.1%. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 28
Daihatsu Diesel Mfg. Co., Ltd., Annual General Meeting, Jun 27, 2025 Daihatsu Diesel Mfg. Co., Ltd., Annual General Meeting, Jun 27, 2025. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.9% average weekly change). Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Buy Or Sell Opportunity • Apr 04
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to JP¥1,493. The fair value is estimated to be JP¥2,025, 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 45%. Revenue is forecast to grow by 8.0% in 2 years. Earnings are forecast to decline by 23% in the next 2 years. Announcement • Apr 03
Imabari Shipbuilding Co., Ltd. completed the acquisition of additional 15.47% stake in Daihatsu Diesel Mfg. Co., Ltd. (TSE:6023) from Daihatsu Motor Co. Ltd. Imabari Shipbuilding Co., Ltd. proposed to acquire an additional 15.47% stake in Daihatsu Diesel Mfg. Co., Ltd. (TSE:6023) from Daihatsu Motor Co. Ltd. for ¥9.0 billion on January 28, 2025. A cash consideration valued at ¥1835 per share will be paid by Imabari Shipbuilding for 4.9 million shares. Upon completion, Imabari Shipbuilding Co., Ltd. will own 15.79% stake in Daihatsu Diesel Mfg. Co., Ltd.
The expected completion of the transaction is April 1, 2025.
Imabari Shipbuilding Co., Ltd. completed the acquisition of additional 15.47% stake in Daihatsu Diesel Mfg. Co., Ltd. (TSE:6023) from Daihatsu Motor Co. Ltd. on April 1, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.1%). Announcement • Mar 01
Daihatsu Diesel Mfg. Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2025 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2025 Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥2,373, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 400% over the past three years. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: JP¥68.78 (vs JP¥23.92 in 3Q 2024) Third quarter 2025 results: EPS: JP¥68.78 (up from JP¥23.92 in 3Q 2024). Revenue: JP¥21.1b (up 2.5% from 3Q 2024). Net income: JP¥2.18b (up 188% from 3Q 2024). Profit margin: 10% (up from 3.7% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 28
Daihatsu Diesel Mfg. Co., Ltd. (TSE:6023) announces an Equity Buyback for 6,281,300 shares, representing 19.72% for ¥11,124.18 million. Daihatsu Diesel Mfg. Co., Ltd. (TSE:6023) announces a share repurchase program. Under the program, the company will repurchase up to 6,281,300 shares, representing 19.72% of its share capital for ¥11,124.18 million. The shares will be repurchased at purchase price of ¥1,771 per share. The offer will expire on March 5, 2025. As of January 28, 2025, the company has 31,850,000 shares in issue. Announcement • Jan 03
Daihatsu Diesel Mfg. Co., Ltd. to Report Q3, 2025 Results on Jan 28, 2025 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q3, 2025 results on Jan 28, 2025 Declared Dividend • Oct 31
Dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 17% 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. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Oct 15
Now 20% overvalued Over the last 90 days, the stock has fallen 24% to JP¥1,451. The fair value is estimated to be JP¥1,205, however this is not to be taken as a sell 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 49%. Buy Or Sell Opportunity • Sep 27
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to JP¥1,467. The fair value is estimated to be JP¥1,212, however this is not to be taken as a sell 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 49%. Announcement • Aug 27
Daihatsu Diesel Mfg. Co., Ltd. to Report Q2, 2025 Results on Oct 29, 2024 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q2, 2025 results on Oct 29, 2024 Buy Or Sell Opportunity • Aug 13
Now 23% overvalued Over the last 90 days, the stock has fallen 8.8% to JP¥1,497. The fair value is estimated to be JP¥1,213, however this is not to be taken as a sell 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 49%. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to JP¥1,190, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 172% over the past three years. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥41.74 (vs JP¥14.79 in 1Q 2024) First quarter 2025 results: EPS: JP¥41.74 (up from JP¥14.79 in 1Q 2024). Revenue: JP¥20.4b (up 16% from 1Q 2024). Net income: JP¥1.32b (up 183% from 1Q 2024). Profit margin: 6.5% (up from 2.6% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 13
Daihatsu Diesel Mfg. Co., Ltd. to Report Q1, 2025 Results on Jul 29, 2024 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,892, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 14x in the Machinery industry in Japan. Total returns to shareholders of 358% over the past three years. Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: JP¥163 (vs JP¥93.37 in FY 2023) Full year 2024 results: EPS: JP¥163 (up from JP¥93.37 in FY 2023). Revenue: JP¥81.8b (up 13% from FY 2023). Net income: JP¥5.15b (up 75% from FY 2023). Profit margin: 6.3% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year whereas the company’s share price has increased by 46% per year. Announcement • Apr 26
Daihatsu Diesel Mfg. Co., Ltd., Annual General Meeting, Jun 27, 2024 Daihatsu Diesel Mfg. Co., Ltd., Annual General Meeting, Jun 27, 2024. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,679, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 284% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.9%). Announcement • Mar 02
Daihatsu Diesel Mfg. Co., Ltd. to Report Q4, 2024 Results on Apr 25, 2024 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q4, 2024 results on Apr 25, 2024 Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,586, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 300% over the past three years. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥23.92 (vs JP¥9.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥23.92 (up from JP¥9.15 in 3Q 2023). Revenue: JP¥20.6b (up 31% from 3Q 2023). Net income: JP¥757.0m (up 162% from 3Q 2023). Profit margin: 3.7% (up from 1.8% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 42% per year. New Risk • Jan 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Jan 30
Daihatsu Diesel Mfg. Co., Ltd. Provides Consolidated Earnings Guidance for the March 2024 Daihatsu Diesel Mfg. Co., Ltd. provided consolidated earnings guidance for the March 2024. For the year, the company expects net sales of JPY 78,000 million, operating profit of JPY 3,600 million, profit attributable to owners of parent of JPY 3,500 million and basic earnings per share of JPY 109.89. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,141, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 220% over the past three years. Announcement • Dec 28
Daihatsu Diesel Mfg. Co., Ltd. to Report Q3, 2024 Results on Jan 30, 2024 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Oct 28
Second quarter 2024 earnings released: EPS: JP¥44.96 (vs JP¥8.92 in 2Q 2023) Second quarter 2024 results: EPS: JP¥44.96 (up from JP¥8.92 in 2Q 2023). Revenue: JP¥19.6b (up 12% from 2Q 2023). Net income: JP¥1.42b (up 406% from 2Q 2023). Profit margin: 7.3% (up from 1.6% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Daihatsu Diesel Mfg. Co., Ltd. Announces Year End Dividend Guidance for the Year Ending March 2024 Daihatsu Diesel Mfg. Co., Ltd. announced year end dividend guidance of JPY 33.00 for the year ending March 2024 compared to JPY 28.00 per share paid a year ago. Announcement • Oct 27
Daihatsu Diesel Mfg. Co., Ltd. Provides Consolidated Earnings Guidance for the March 2024 Daihatsu Diesel Mfg. Co., Ltd. provided consolidated earnings guidance for the March 2024. For the year, the company expects net sales of JPY 78,000 million, operating profit of JPY 3,600 million, profit attributable to owners of parent of JPY 3,500 million and basic earnings per share of JPY 109.89. Announcement • Aug 27
Daihatsu Diesel Mfg. Co., Ltd. to Report Q2, 2024 Results on Oct 26, 2023 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q2, 2024 results on Oct 26, 2023 Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥14.79 (vs JP¥15.02 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.79 (down from JP¥15.02 in 1Q 2023). Revenue: JP¥17.6b (up 25% from 1Q 2023). Net income: JP¥467.0m (down 1.7% from 1Q 2023). Profit margin: 2.6% (down from 3.4% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥760, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 100% over the past three years. Announcement • May 31
Daihatsu Diesel Mfg. Co., Ltd. to Report Q1, 2024 Results on Jul 27, 2023 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥93.37 (vs JP¥62.01 in FY 2022) Full year 2023 results: EPS: JP¥93.37 (up from JP¥62.01 in FY 2022). Revenue: JP¥72.1b (up 25% from FY 2022). Net income: JP¥2.95b (up 50% from FY 2022). Profit margin: 4.1% (up from 3.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥660, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 79% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 28% 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 (2.4%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥9.15 (vs JP¥23.46 in 3Q 2022) Third quarter 2023 results: EPS: JP¥9.15 (down from JP¥23.46 in 3Q 2022). Revenue: JP¥15.7b (up 12% from 3Q 2022). Net income: JP¥289.0m (down 61% from 3Q 2022). Profit margin: 1.8% (down from 5.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jan 09
Daihatsu Diesel Mfg. Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Daihatsu Diesel Mfg. Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Hiroko Ameno was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: JP¥8.92 (vs JP¥12.55 in 2Q 2022) Second quarter 2023 results: EPS: JP¥8.92 (down from JP¥12.55 in 2Q 2022). Revenue: JP¥17.5b (up 50% from 2Q 2022). Net income: JP¥281.0m (down 29% from 2Q 2022). Profit margin: 1.6% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥15.02 (vs JP¥6.34 in 1Q 2022) First quarter 2023 results: EPS: JP¥15.02 (up from JP¥6.34 in 1Q 2022). Revenue: JP¥14.1b (up 21% from 1Q 2022). Net income: JP¥475.0m (up 136% from 1Q 2022). Profit margin: 3.4% (up from 1.7% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥62.01 (vs JP¥22.43 in FY 2021) Full year 2022 results: EPS: JP¥62.01 (up from JP¥22.43 in FY 2021). Revenue: JP¥57.6b (up 1.5% from FY 2021). Net income: JP¥1.97b (up 176% from FY 2021). Profit margin: 3.4% (up from 1.3% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 12 non-independent directors. Director Hiroko Ameno was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥23.46 (up from JP¥1.67 in 3Q 2021). Revenue: JP¥14.0b (up 4.9% from 3Q 2021). Net income: JP¥745.0m (up JP¥692.0m from 3Q 2021). Profit margin: 5.3% (up from 0.4% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥12.55 (vs JP¥1.58 loss in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥11.7b (down 5.9% from 2Q 2021). Net income: JP¥398.0m (up JP¥448.0m from 2Q 2021). Profit margin: 3.4% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥615, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 15x in the Machinery industry in Japan. Total returns to shareholders of 1.8% over the past three years. Reported Earnings • Jul 28
First quarter 2022 earnings released: EPS JP¥6.34 (vs JP¥5.04 loss in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥11.7b (down 8.1% from 1Q 2021). Net income: JP¥201.0m (up JP¥361.0m from 1Q 2021). Profit margin: 1.7% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 13% per year. Reported Earnings • Apr 30
Full year 2021 earnings released: EPS JP¥22.43 (vs JP¥62.79 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥56.7b (down 5.6% from FY 2020). Net income: JP¥712.0m (down 64% from FY 2020). Profit margin: 1.3% (down from 3.3% in FY 2020). The decrease in margin was driven by lower revenue. 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 17% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.9%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥537, the stock is trading at a trailing P/E ratio of 11.6x, up from the previous P/E ratio of 9.7x. This compares to an average P/E of 17x in the Machinery industry in Japan. Total return to shareholders over the past three years is a loss of 32%. Is New 90 Day High Low • Feb 20
New 90-day high: JP¥435 The company is up 5.0% from its price of JP¥416 on 20 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 15% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS JP¥1.67 (vs JP¥4.34 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥13.3b (down 4.4% from 3Q 2020). Net income: JP¥53.0m (up JP¥191.0m from 3Q 2020). Profit margin: 0.4% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Feb 04
New 90-day high: JP¥427 The company is up 3.0% from its price of JP¥415 on 06 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 19% over the same period. 