Upcoming Dividend • Jun 22
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 10 September 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (1.6%). Announcement • Jun 09
Daifuku Co., Ltd. to Report Q2, 2026 Results on Aug 06, 2026 Daifuku Co., Ltd. announced that they will report Q2, 2026 results on Aug 06, 2026 Announcement • May 29
Daifuku Co., Ltd. Announces Resignation of Nobuo Wada as Outside Member of the Audit & Supervisory Board (Independent Officer), Effective May 21, 2026 Daifuku Co., Ltd. hereby announced that it has received a notice of resignation from Mr. Nobuo Wada, an outside member of the Audit & Supervisory Board (Independent Officer). Date of resignation is May 21, 2026. Reason for resignation is due to the receipt of a notice of resignation for personal reasons. Reported Earnings • May 16
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: EPS: JP¥53.03 (down from JP¥74.15 in 1Q 2025). Revenue: JP¥172.7b (down 34% from 1Q 2025). Net income: JP¥19.5b (down 29% from 1Q 2025). Profit margin: 11% (in line with 1Q 2025). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 07
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 7.0% 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. Declared Dividend • Apr 11
Final dividend of JP¥36.00 announced Shareholders will receive a dividend of JP¥36.00. Ex-date: 29th June 2026 Payment date: 10th September 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 11
Daifuku Co., Ltd. to Report Q1, 2026 Results on May 14, 2026 Daifuku Co., Ltd. announced that they will report Q1, 2026 results on May 14, 2026 Buy Or Sell Opportunity • Apr 08
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to JP¥6,155. The fair value is estimated to be JP¥5,058, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 8.7% per annum over the same time period. Reported Earnings • Mar 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥212 (up from JP¥203 in FY 2024). Revenue: JP¥660.7b (down 10% from FY 2024). Net income: JP¥78.1b (up 4.0% from FY 2024). Profit margin: 12% (up from 10% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.0%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 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 30% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • Feb 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥212 (up from JP¥203 in FY 2024). Revenue: JP¥660.7b (down 10% from FY 2024). Net income: JP¥78.1b (up 4.0% from FY 2024). Profit margin: 12% (up from 10% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.0%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 12
Daifuku Co., Ltd., Annual General Meeting, Mar 27, 2026 Daifuku Co., Ltd., Annual General Meeting, Mar 27, 2026. Buy Or Sell Opportunity • Jan 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to JP¥5,124. The fair value is estimated to be JP¥4,227, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last year. Earnings per share has grown by 85%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 6.4% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.9%). Buy Or Sell Opportunity • Dec 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥5,146. The fair value is estimated to be JP¥4,280, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 5.6% per annum over the same time period. Announcement • Dec 03
Daifuku Co., Ltd. to Report Fiscal Year 2025 Results on Feb 12, 2026 Daifuku Co., Ltd. announced that they will report fiscal year 2025 results on Feb 12, 2026 New Risk • Nov 18
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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. Declared Dividend • Sep 11
Dividend of JP¥34.00 announced Shareholders will receive a dividend of JP¥34.00. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 03
Daifuku Co., Ltd. to Report Q3, 2025 Results on Nov 11, 2025 Daifuku Co., Ltd. announced that they will report Q3, 2025 results on Nov 11, 2025 Buy Or Sell Opportunity • Aug 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to JP¥4,575. The fair value is estimated to be JP¥3,769, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 2.9% per annum over the same time period. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥4,524, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Machinery industry in Japan. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,808 per share. Announcement • Jun 04
Daifuku Co., Ltd. to Report Q2, 2025 Results on Aug 07, 2025 Daifuku Co., Ltd. announced that they will report Q2, 2025 results on Aug 07, 2025 Buy Or Sell Opportunity • Apr 21
Now 20% undervalued Over the last 90 days, the stock has risen 9.1% to JP¥3,476. The fair value is estimated to be JP¥4,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Buy Or Sell Opportunity • Apr 07
Now 25% undervalued The stock has been flat over the last 90 days, currently trading at JP¥3,266. The fair value is estimated to be JP¥4,328, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 3.4% per annum over the same time period. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Harry Yoshida was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 07
Daifuku Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Daifuku Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥3,944, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,305 per share. Announcement • Feb 17
Daifuku Co., Ltd., Annual General Meeting, Mar 28, 2025 Daifuku Co., Ltd., Annual General Meeting, Mar 28, 2025. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥74.15 (vs JP¥35.72 in 3Q 2024) Third quarter 2025 results: EPS: JP¥74.15 (up from JP¥35.72 in 3Q 2024). Revenue: JP¥260.6b (up 67% from 3Q 2024). Net income: JP¥27.4b (up 107% from 3Q 2024). Profit margin: 11% (up from 8.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.7% 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 only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Daifuku Co., Ltd. Resolves to Pay Increase Year-End Dividend for the Fiscal Year Ended December 31, 2024, Payable on March 31, 2025 Daifuku Co., Ltd. announced that at a meeting of the Board of Directors held on February 14, 2025, it has resolved to pay an increased year-end dividend with a record date of December 31, 2024. Year-end dividend per share of JPY 32 per share for the fiscal year ended December 31, 2024 compared to JPY 24 per share previous guidance. Upcoming Dividend • Dec 23
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.3%). Declared Dividend • Dec 06
First half dividend of JP¥24.00 announced Shareholders will receive a dividend of JP¥24.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 1.4%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 04
Daifuku Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 Daifuku Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Major Estimate Revision • Nov 15
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥114 to JP¥128. Revenue forecast steady at JP¥555.6b. Net income forecast to shrink 13% next year vs 12% growth forecast for Machinery industry in Japan . Consensus price target broadly unchanged at JP¥3,658. Share price rose 10.0% to JP¥3,245 over the past week. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥45.42 (vs JP¥18.70 in 2Q 2024) Second quarter 2025 results: EPS: JP¥45.42 (up from JP¥18.70 in 2Q 2024). Revenue: JP¥157.5b (up 7.4% from 2Q 2024). Net income: JP¥16.8b (up 140% from 2Q 2024). Profit margin: 11% (up from 4.8% in 2Q 2024). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 08
Daifuku Co., Ltd. (TSE:6383) announces an Equity Buyback for 5,000,000 shares, representing 1.35% for ¥10,000 million. Daifuku Co., Ltd. (TSE:6383) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 1.35% of its issued share capital, for ¥10,000 million. The purpose of the program is to improve capital efficiency, enhance shareholder returns, and reduce the number of shares to increase per-share value. The program is valid till December 31, 2024. As of October 31, 2024, the company had 370,733,143 outstanding shares (excluding treasury stock) and 9,097,088 treasury shares. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.9%). Announcement • Sep 04
Daifuku Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Daifuku Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: JP¥34.73 (vs JP¥18.99 in 1Q 2024) First quarter 2025 results: EPS: JP¥34.73 (up from JP¥18.99 in 1Q 2024). Revenue: JP¥145.1b (up 7.8% from 1Q 2024). Net income: JP¥12.9b (up 79% from 1Q 2024). Profit margin: 8.9% (up from 5.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Aug 05
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 6.8% 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 • Aug 05
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to JP¥1,978, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Machinery industry in Japan. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,669 per share. Buy Or Sell Opportunity • Aug 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to JP¥1,978. The fair value is estimated to be JP¥2,669, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 9.8% per annum over the same time period. Declared Dividend • Jul 26
Final dividend of JP¥19.00 announced Shareholders will receive a dividend of JP¥19.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥122 (up from JP¥109 in FY 2023). Revenue: JP¥611.5b (up 1.6% from FY 2023). Net income: JP¥45.5b (up 10% from FY 2023). Profit margin: 7.4% (up from 6.9% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jun 08
Daifuku Co., Ltd. to Report Q1, 2025 Results on Aug 08, 2024 Daifuku Co., Ltd. announced that they will report Q1, 2025 results on Aug 08, 2024 Announcement • May 15
Daifuku Co., Ltd., Annual General Meeting, Jun 21, 2024 Daifuku Co., Ltd., Annual General Meeting, Jun 21, 2024. Reported Earnings • May 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥122 (up from JP¥109 in FY 2023). Revenue: JP¥611.5b (up 1.6% from FY 2023). Net income: JP¥45.5b (up 10% from FY 2023). Profit margin: 7.4% (up from 6.9% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.9%). Announcement • Mar 03
Daifuku Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Daifuku Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: JP¥35.72 (up from JP¥31.08 in 3Q 2023). Revenue: JP¥156.1b (down 1.1% from 3Q 2023). Net income: JP¥13.2b (up 13% from 3Q 2023). Profit margin: 8.5% (up from 7.4% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 09
Now 34% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to JP¥3,244. The fair value is estimated to be JP¥2,419, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Nov 27
Daifuku Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Daifuku Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥18.70 (down from JP¥29.57 in 2Q 2023). Revenue: JP¥146.7b (flat on 2Q 2023). Net income: JP¥7.03b (down 37% from 2Q 2023). Profit margin: 4.8% (down from 7.6% in 2Q 2023). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery 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 fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Sep 28
Daifuku Co., Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Daifuku Co., Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥14.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is on the higher end at 98% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.1%). Announcement • Aug 30
Daifuku Co., Ltd. (TSE:6383) announces an Equity Buyback for 10,000,000 shares, representing 2.64% for ¥20,000 million. Daifuku Co., Ltd. (TSE:6383) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 2.64% of its share capital, for ¥20,000 million. The purpose of the program is to improve capital efficiency and increase the value per share. The program will expire on December 31, 2023. As of July 31, 2023, the company had 378,092,409 shares in issue (excluding treasury stock) and 1,737,822 shares in treasury. New Risk • Aug 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Aug 10
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: JP¥18.99 (up from JP¥15.43 in 1Q 2023). Revenue: JP¥134.6b (up 3.3% from 1Q 2023). Net income: JP¥7.18b (up 23% from 1Q 2023). Profit margin: 5.3% (up from 4.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Daifuku Co., Ltd. to Report Q1, 2024 Results on Aug 08, 2023 Daifuku Co., Ltd. announced that they will report Q1, 2024 results on Aug 08, 2023 Announcement • May 17
Daifuku Co., Ltd., Annual General Meeting, Jun 23, 2023 Daifuku Co., Ltd., Annual General Meeting, Jun 23, 2023. Reported Earnings • May 14
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥327 (up from JP¥94.90 in FY 2022). Revenue: JP¥601.9b (up 18% from FY 2022). Net income: JP¥41.2b (up 15% from FY 2022). Profit margin: 6.9% (down from 7.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.4%). Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2023 results: EPS: JP¥93.24 (up from JP¥78.85 in 3Q 2022). Revenue: JP¥157.9b (up 25% from 3Q 2022). Net income: JP¥11.8b (up 18% from 3Q 2022). Profit margin: 7.4% (down from 7.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.3% p.a. on average during the next 3 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 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jan 13
Daifuku Co., Ltd. to Report Q3, 2023 Results on Feb 09, 2023 Daifuku Co., Ltd. announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Kaku Kato was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: JP¥88.70 (up from JP¥49.15 in 2Q 2022). Revenue: JP¥147.6b (up 20% from 2Q 2022). Net income: JP¥11.2b (up 81% from 2Q 2022). Profit margin: 7.6% (up from 5.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 4.9%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Announcement • Sep 29
Daifuku Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022 Daifuku Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.4%). 
