Major Estimate Revision • Jun 03
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2027 has been updated. 2027 EPS estimate fell from JP¥200 to JP¥177 per share. Revenue forecast steady at JP¥490.2b. Net income forecast to grow 94% next year vs 2.6% growth forecast for Food industry in Japan. Consensus price target of JP¥2,500 unchanged from last update. Share price fell 3.6% to JP¥2,323 over the past week. Reported Earnings • May 09
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥91.26 (down from JP¥141 in FY 2025). Revenue: JP¥475.6b (up 3.8% from FY 2025). Net income: JP¥4.59b (down 35% from FY 2025). Profit margin: 1.0% (down from 1.5% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 53%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. New Risk • May 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (175% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: JP¥45.30 (vs JP¥32.23 in 3Q 2025) Third quarter 2026 results: EPS: JP¥45.30 (up from JP¥32.23 in 3Q 2025). Revenue: JP¥126.8b (up 4.9% from 3Q 2025). Net income: JP¥2.28b (up 41% from 3Q 2025). Profit margin: 1.8% (up from 1.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Major Estimate Revision • Jan 08
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥469.4b to JP¥476.8b. EPS estimate increased from JP¥151 to JP¥181 per share. Net income forecast to grow 50% next year vs 5.8% growth forecast for Food industry in Japan. Consensus price target up from JP¥2,500 to JP¥2,700. Share price rose 3.6% to JP¥2,761 over the past week. Declared Dividend • Dec 02
First half dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (dividend approximately 26x free cash flows). The dividend has increased by an average of 23% 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 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥27.06 (vs JP¥40.87 in 2Q 2025) Second quarter 2026 results: EPS: JP¥27.06 (down from JP¥40.87 in 2Q 2025). Revenue: JP¥120.3b (up 3.2% from 2Q 2025). Net income: JP¥1.36b (down 34% from 2Q 2025). Profit margin: 1.1% (down from 1.8% in 2Q 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 3.3% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,680, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Food industry in Japan. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). Announcement • Sep 06
Prima Meat Packers, Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Prima Meat Packers, Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Price Target Changed • Aug 13
Price target increased by 8.7% to JP¥2,500 Up from JP¥2,300, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥2,384. Stock is up 6.9% over the past year. The company is forecast to post earnings per share of JP¥151 for next year compared to JP¥141 last year. Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥35.61 (vs JP¥43.86 in 1Q 2025) First quarter 2026 results: EPS: JP¥35.61 (down from JP¥43.86 in 1Q 2025). Revenue: JP¥115.8b (up 2.6% from 1Q 2025). Net income: JP¥1.79b (down 19% from 1Q 2025). Profit margin: 1.5% (down from 2.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Declared Dividend • Jul 09
Final dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (185% cash payout ratio). The dividend has increased by an average of 23% 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 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥141 (down from JP¥149 in FY 2024). Revenue: JP¥458.4b (up 2.2% from FY 2024). Net income: JP¥7.08b (down 5.5% from FY 2024). Profit margin: 1.5% (down from 1.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jun 29
Prima Meat Packers, Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Prima Meat Packers, Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 New Risk • May 09
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 185% Dividend yield: 3.5% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 08
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥141 (down from JP¥149 in FY 2024). Revenue: JP¥458.4b (up 2.2% from FY 2024). Net income: JP¥7.08b (down 5.5% from FY 2024). Profit margin: 1.5% (down from 1.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 07
Prima Meat Packers, Ltd., Annual General Meeting, Jun 25, 2025 Prima Meat Packers, Ltd., Annual General Meeting, Jun 25, 2025. Announcement • Mar 23
Prima Meat Packers, Ltd. to Report Fiscal Year 2025 Results on May 07, 2025 Prima Meat Packers, Ltd. announced that they will report fiscal year 2025 results on May 07, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Major Estimate Revision • Feb 10
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥169 to JP¥148 per share. Revenue forecast steady at JP¥460.2b. Net income forecast to grow 10% next year vs 7.9% growth forecast for Food industry in Japan. Consensus price target down from JP¥2,260 to JP¥2,030. Share price was steady at JP¥2,149 over the past week. Price Target Changed • Feb 08
Price target decreased by 10% to JP¥2,030 Down from JP¥2,260, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥2,113. Stock is down 7.5% over the past year. The company is forecast to post earnings per share of JP¥148 for next year compared to JP¥149 last year. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: JP¥32.23 (vs JP¥46.58 in 3Q 2024) Third quarter 2025 results: EPS: JP¥32.23 (down from JP¥46.58 in 3Q 2024). Revenue: JP¥120.8b (flat on 3Q 2024). Net income: JP¥1.62b (down 31% from 3Q 2024). Profit margin: 1.3% (down from 2.0% in 3Q 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% 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. Declared Dividend • Dec 03
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 23% 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 9.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Prima Meat Packers, Ltd. to Report Q3, 2025 Results on Feb 03, 2025 Prima Meat Packers, Ltd. announced that they will report Q3, 2025 results on Feb 03, 2025 Announcement • Nov 29
Prima Meat Packers, Ltd. Announces Second Quarter End Dividend for the Year Ending March 31, 2025, Payable on December 2, 2024 Prima Meat Packers, Ltd. announced second quarter end dividend of JPY 40 per share for the year ending March 31, 2025 compared to JPY 20 per share paid a year ago. The dividend will be payable on December 2, 2024. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥40.87 (vs JP¥32.69 in 2Q 2024) Second quarter 2025 results: EPS: JP¥40.87 (up from JP¥32.69 in 2Q 2024). Revenue: JP¥116.6b (up 2.7% from 2Q 2024). Net income: JP¥2.05b (up 25% from 2Q 2024). Profit margin: 1.8% (up from 1.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 21% 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. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Announcement • Aug 28
Prima Meat Packers, Ltd. to Report Q2, 2025 Results on Nov 05, 2024 Prima Meat Packers, Ltd. announced that they will report Q2, 2025 results on Nov 05, 2024 Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥43.86 (vs JP¥44.14 in 1Q 2024) First quarter 2025 results: EPS: JP¥43.86 (down from JP¥44.14 in 1Q 2024). Revenue: JP¥112.9b (up 3.3% from 1Q 2024). Net income: JP¥2.20b (flat on 1Q 2024). Profit margin: 2.0% (in line with 1Q 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 11
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 23% 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 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 10
Prima Meat Packers, Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Prima Meat Packers, Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Price Target Changed • Jul 02
Price target increased by 7.4% to JP¥2,550 Up from JP¥2,375, the current price target is provided by 1 analyst. New target price is 6.7% above last closing price of JP¥2,389. Stock is up 11% over the past year. The company is forecast to post earnings per share of JP¥169 for next year compared to JP¥149 last year. Announcement • May 09
Prima Meat Packers, Ltd., Annual General Meeting, Jun 26, 2024 Prima Meat Packers, Ltd., Annual General Meeting, Jun 26, 2024. Reported Earnings • May 08
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥149 (up from JP¥89.65 in FY 2023). Revenue: JP¥448.4b (up 4.1% from FY 2023). Net income: JP¥7.49b (up 66% from FY 2023). Profit margin: 1.7% (up from 1.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.5%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Mar 27
Prima Meat Packers, Ltd. to Report Fiscal Year 2024 Results on May 07, 2024 Prima Meat Packers, Ltd. announced that they will report fiscal year 2024 results on May 07, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥46.58 (vs JP¥43.32 in 3Q 2023) Third quarter 2024 results: EPS: JP¥46.58 (up from JP¥43.32 in 3Q 2023). Revenue: JP¥119.8b (up 2.7% from 3Q 2023). Net income: JP¥2.34b (up 7.5% from 3Q 2023). Profit margin: 2.0% (up from 1.9% in 3Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Nov 26
Prima Meat Packers, Ltd. to Report Q3, 2024 Results on Feb 05, 2024 Prima Meat Packers, Ltd. announced that they will report Q3, 2024 results on Feb 05, 2024 Announcement • Nov 15
Prima Meat Packers, Ltd. Announces Interim Dividend for the Fiscal Year Ending March 31, 2024, Payable on December 1, 2023 Prima Meat Packers, Ltd. announced that at the meeting of the Board of Directors held on November 13, 2023, it resolved to distribute dividends (interim dividends) of surplus, with a record date dated September 30, 2023, as per the following. Interim dividend of JPY 20.00 per share for the fiscal year ending March 31, 2024. Effective date: December 1, 2023. Announcement • Nov 08
Prima Meat Packers, Ltd. Revises Earnings Guidance for the Six Months Ended September 30, 2023 Prima Meat Packers, Ltd. revised earnings guidance for the six months ended September 30, 2023. For the period, the company expected Net sales to be JPY 222,700 million against the previous guidance of JPY 231,900 million. Operating profit to be JPY 6,800 million against the previous guidance of JPY 5,600 million. Profit attributable to owners of parent to be JPY 3,800 million against the previous guidance of JPY 3,500 million. Earnings per share to be JPY 75.62 against the previous guidance of JPY 69.65. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥32.69 (vs JP¥28.80 in 2Q 2023) Second quarter 2024 results: EPS: JP¥32.69 (up from JP¥28.80 in 2Q 2023). Revenue: JP¥113.5b (up 5.8% from 2Q 2023). Net income: JP¥1.64b (up 14% from 2Q 2023). Profit margin: 1.4% (up from 1.3% in 2Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Sep 28
Prima Meat Packers, Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Prima Meat Packers, Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Major Estimate Revision • Aug 08
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥139 to JP¥163. Revenue forecast steady at JP¥448.1b. Net income forecast to grow 85% next year vs 5.9% growth forecast for Food industry in Japan. Consensus price target up from JP¥2,285 to JP¥2,385. Share price rose 5.0% to JP¥2,342 over the past week. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥44.14 (vs JP¥44.62 in 1Q 2023) First quarter 2024 results: EPS: JP¥44.14 (down from JP¥44.62 in 1Q 2023). Revenue: JP¥109.3b (up 4.6% from 1Q 2023). Net income: JP¥2.22b (down 1.1% from 1Q 2023). Profit margin: 2.0% (down from 2.1% in 1Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Jul 25
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Outside Independent Director Yoshino Tsujita was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Price Target Changed • Jul 08
Price target increased by 11% to JP¥2,300 Up from JP¥2,075, the current price target is provided by 1 analyst. New target price is 6.4% above last closing price of JP¥2,162. Stock is down 5.7% over the past year. The company is forecast to post earnings per share of JP¥140 for next year compared to JP¥89.65 last year. Announcement • Jun 24
Prima Meat Packers, Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Prima Meat Packers, Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥89.65 (down from JP¥193 in FY 2022). Revenue: JP¥430.7b (up 2.7% from FY 2022). Net income: JP¥4.51b (down 54% from FY 2022). Profit margin: 1.0% (down from 2.3% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: JP¥43.32 (vs JP¥48.70 in 3Q 2022) Third quarter 2023 results: EPS: JP¥43.32 (down from JP¥48.70 in 3Q 2022). Revenue: JP¥116.7b (up 5.7% from 3Q 2022). Net income: JP¥2.18b (down 11% from 3Q 2022). Profit margin: 1.9% (down from 2.2% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Food industry in Japan. 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 6% per year. Price Target Changed • Dec 13
Price target decreased to JP¥2,075 Down from JP¥2,305, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,107. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥142 for next year compared to JP¥193 last year. Announcement • Dec 09
Prima Meat Packers, Ltd. to Report Q3, 2023 Results on Feb 06, 2023 Prima Meat Packers, Ltd. announced that they will report Q3, 2023 results on Feb 06, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥28.80 (vs JP¥46.09 in 2Q 2022) Second quarter 2023 results: EPS: JP¥28.80 (down from JP¥46.09 in 2Q 2022). Revenue: JP¥107.3b (up 2.0% from 2Q 2022). Net income: JP¥1.45b (down 38% from 2Q 2022). Profit margin: 1.3% (down from 2.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Nov 16
Prima Meat Packers, Ltd. Announces Interim Cash Dividend for the Fiscal Year Ending March 31, 2023, Effective December 1, 2022; Provides Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2023 Prima Meat Packers, Ltd. announced that at the meeting of the Board of Directors held on November 14, 2022, it resolved to distribute interim cash dividend of JPY 20.00 per share for the fiscal year ending March 31, 2023 against JPY 20.00 per share paid a year ago, with a record date dated September 30, 2022. Total amount of dividend is JPY 1,006 million. Effective date is December 1, 2022. Source of dividends is Retained earnings. The company provided year-end dividend guidance for the fiscal year ending March 31, 2023. For the year-end, the company expects to pay cash dividend of JPY 45.00 per share against JPY 45.00 per share paid a year ago. Price Target Changed • Nov 16
Price target decreased to JP¥2,305 Down from JP¥2,685, the current price target is an average from 2 analysts. New target price is 16% above last closing price of JP¥1,984. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥162 for next year compared to JP¥193 last year. Announcement • Nov 03
Prima Meat Packers, Ltd. Revises Earnings Guidance for the Fiscal Year Ending March 31, 2023 Prima Meat Packers, Ltd. revised earnings guidance for the fiscal year ending March 31, 2023. For the period, the company expects net sales to be JPY 432,000 million against previously announced net sales of JPY 441,000 million, operating profit to be JPY 11,000 million against previously announced operating profit of JPY 16,100 million, profit attributable to owners of parent to be JPY 7,300 million against previously announced profit of JPY 10,600 million and earnings per share to be JPY 145.27 against previously announced earnings per share of JPY 210.95. Regarding the consolidated results forecast for the six months ended September 30, 2022, each of the above stage profits is expected to fall short of the previously announced forecast. The company profits were affected by rising raw material prices and energy costs and the rapid depreciation of yen, although net sales were higher than those of previous fiscal year. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥28.80 (vs JP¥46.09 in 2Q 2022) Second quarter 2023 results: EPS: JP¥28.80 (down from JP¥46.09 in 2Q 2022). Revenue: JP¥107.3b (up 2.0% from 2Q 2022). Net income: JP¥1.45b (down 38% from 2Q 2022). Profit margin: 1.3% (down from 2.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Food industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Prima Meat Packers, Ltd. Revises Consolidated Earnings Forecast for the Six Months Ended September 30, 2022 Prima Meat Packers, Ltd. revised consolidated earnings forecast for the six months ended September 30, 2022. For the period, company now expects net sales to be ¥211,500 million against previous forecast of ¥219,900 million. Operating profit to be ¥5,400 million against previous forecast of ¥8,500 million. Profit attributable to owners of parent to be ¥3,600 million against previous forecast of ¥5,600 million and earnings per share to be ¥71.64 against previous forecast of ¥111.44. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Price Target Changed • Sep 07
Price target decreased to JP¥2,305 Down from JP¥2,685, the current price target is an average from 2 analysts. New target price is 12% above last closing price of JP¥2,065. Stock is down 34% over the past year. The company is forecast to post earnings per share of JP¥162 for next year compared to JP¥193 last year. Announcement • Sep 02
Prima Meat Packers, Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Prima Meat Packers, Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: JP¥44.62 (vs JP¥59.15 in 1Q 2022) First quarter 2023 results: EPS: JP¥44.62 (down from JP¥59.15 in 1Q 2022). Revenue: JP¥104.5b (flat on 1Q 2022). Net income: JP¥2.24b (down 25% from 1Q 2022). Profit margin: 2.1% (down from 2.8% in 1Q 2022). Over the next year, revenue is forecast to grow 1.9%, compared to a 7.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Board Change • Jul 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 4 experienced directors. 1 highly experienced director. Independent External and Outside Director Takeshi Yamashita is the most experienced director on the board, commencing their role in 2012. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 19
Prima Meat Packers, Ltd. to Report Q1, 2023 Results on Aug 01, 2022 Prima Meat Packers, Ltd. announced that they will report Q1, 2023 results on Aug 01, 2022 Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥215 to JP¥171 per share. Revenue forecast steady at JP¥424.8b. Net income forecast to shrink 12% next year vs 2.3% decline forecast for Food industry in Japan. Consensus price target broadly unchanged at JP¥2,685. Share price was steady at JP¥2,136 over the past week. Announcement • May 12
Prima Meat Packers, Ltd., Annual General Meeting, Jun 28, 2022 Prima Meat Packers, Ltd., Annual General Meeting, Jun 28, 2022. Reported Earnings • May 11
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥193 (down from JP¥282 in FY 2021). Revenue: JP¥419.6b (down 3.2% from FY 2021). Net income: JP¥9.72b (down 31% from FY 2021). Profit margin: 2.3% (down from 3.3% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Over the next year, revenue is forecast to grow 2.1%, compared to a 2.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to JP¥2,715 Down from JP¥3,010, the current price target is an average from 2 analysts. New target price is 31% above last closing price of JP¥2,072. Stock is down 39% over the past year. The company is forecast to post earnings per share of JP¥207 for next year compared to JP¥282 last year. Announcement • Apr 07
Prima Meat Packers, Ltd. to Report Fiscal Year 2022 Results on May 09, 2022 Prima Meat Packers, Ltd. announced that they will report fiscal year 2022 results on May 09, 2022 
