Announcement • May 29
Suzuken Co., Ltd. to Report Q1, 2027 Results on Aug 07, 2026 Suzuken Co., Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 16
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥546 (up from JP¥455 in FY 2025). Revenue: JP¥2.49t (up 3.6% from FY 2025). Net income: JP¥38.1b (up 11% from FY 2025). Profit margin: 1.5% (up from 1.4% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Healthcare 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 12% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Suzuken Co., Ltd., Annual General Meeting, Jun 24, 2026 Suzuken Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • May 09
Suzuken Co., Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 Suzuken Co., Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 04 June 2026. Payout ratio is a comfortable 20% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.7%). New Risk • Mar 12
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 448% Dividend yield: 1.7% 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: Minor Risks Dividend is not well covered by cash flows (448% cash payout ratio). Large one-off items impacting financial results. New Risk • Feb 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 36% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥214 (vs JP¥137 in 3Q 2025) Third quarter 2026 results: EPS: JP¥214 (up from JP¥137 in 3Q 2025). Revenue: JP¥666.2b (up 3.9% from 3Q 2025). Net income: JP¥14.8b (up 42% from 3Q 2025). Profit margin: 2.2% (up from 1.6% in 3Q 2025). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. Announcement • Feb 12
Suzuken Co., Ltd. (TSE:9987) acquired medimo, Inc. Suzuken Co., Ltd. (TSE:9987) acquired medimo, Inc. on February 12, 2026.
Suzuken Co., Ltd. (TSE:9987) completed the acquisition of medimo, Inc. on February 12, 2026. Declared Dividend • Dec 11
First half dividend of JP¥50.00 announced Dividend of JP¥50.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 4th June 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (456% cash payout ratio). The dividend has increased by an average of 7.4% 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 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 03
Suzuken Co., Ltd. to Report Q3, 2026 Results on Feb 12, 2026 Suzuken Co., Ltd. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥177 (vs JP¥197 in 2Q 2025) Second quarter 2026 results: EPS: JP¥177 (down from JP¥197 in 2Q 2025). Revenue: JP¥626.6b (up 1.9% from 2Q 2025). Net income: JP¥12.5b (down 19% from 2Q 2025). Profit margin: 2.0% (down from 2.5% in 2Q 2025). 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 4.3% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 06
Now 20% overvalued Over the last 90 days, the stock has fallen 2.5% to JP¥5,856. The fair value is estimated to be JP¥4,873, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 1.2% per annum over the same time period. Buy Or Sell Opportunity • Oct 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to JP¥5,893. The fair value is estimated to be JP¥4,883, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 1.2% per annum over the same time period. Buy Or Sell Opportunity • Sep 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to JP¥5,877. The fair value is estimated to be JP¥4,858, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 0.9% per annum over the same time period. Announcement • Sep 01
Suzuken Co., Ltd. to Report Q2, 2026 Results on Nov 13, 2025 Suzuken Co., Ltd. announced that they will report Q2, 2026 results on Nov 13, 2025 Buy Or Sell Opportunity • Aug 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥5,735. The fair value is estimated to be JP¥4,759, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 0.08% per annum over the same time period. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: JP¥52.63 (vs JP¥63.91 in 1Q 2025) First quarter 2026 results: EPS: JP¥52.63 (down from JP¥63.91 in 1Q 2025). Revenue: JP¥592.9b (up 1.8% from 1Q 2025). Net income: JP¥3.78b (down 24% from 1Q 2025). Profit margin: 0.6% (down from 0.9% in 1Q 2025). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.4% 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 3.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥455 (up from JP¥358 in FY 2024). Revenue: JP¥2.40t (flat on FY 2024). Net income: JP¥34.5b (up 19% from FY 2024). Profit margin: 1.4% (up from 1.2% in FY 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 31
Suzuken Co., Ltd. to Report Q1, 2026 Results on Aug 13, 2025 Suzuken Co., Ltd. announced that they will report Q1, 2026 results on Aug 13, 2025 New Risk • May 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.08% 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 Risks Earnings are forecast to decline by an average of 0.08% per year for the foreseeable future. High level of non-cash earnings (54% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Major Estimate Revision • May 20
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥361 to JP¥422. Revenue forecast steady at JP¥2.50t. Net income forecast to shrink 15% next year vs 5.5% growth forecast for Healthcare industry in Japan . Consensus price target of JP¥5,700 unchanged from last update. Share price fell 4.0% to JP¥5,173 over the past week. New Risk • May 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 54% 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 (54% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 14
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥455 (up from JP¥358 in FY 2024). Revenue: JP¥2.40t (flat on FY 2024). Net income: JP¥34.5b (up 19% from FY 2024). Profit margin: 1.4% (up from 1.2% in FY 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. 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: 04 June 2025. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.7%). Announcement • Mar 01
Suzuken Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Suzuken Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: JP¥137 (vs JP¥119 in 3Q 2024) Third quarter 2025 results: EPS: JP¥137 (up from JP¥119 in 3Q 2024). Revenue: JP¥641.3b (up 3.5% from 3Q 2024). Net income: JP¥10.4b (up 8.1% from 3Q 2024). Profit margin: 1.6% (in line with 3Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 11
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th March 2025 Payment date: 4th June 2025 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 5.3% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Announcement • Nov 30
Suzuken Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Suzuken Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: JP¥197 (vs JP¥152 in 2Q 2024) Second quarter 2025 results: EPS: JP¥197 (up from JP¥152 in 2Q 2024). Revenue: JP¥615.1b (flat on 2Q 2024). Net income: JP¥15.3b (up 22% from 2Q 2024). Profit margin: 2.5% (up from 2.0% in 2Q 2024). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 13
Now 21% undervalued Over the last 90 days, the stock has risen 1.4% to JP¥5,105. The fair value is estimated to be JP¥6,433, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are forecast to decline by 2.8% per annum over the same time period. Announcement • Nov 12
Suzuken Co., Ltd. (TSE:9987) announces an Equity Buyback for 5,600,000 shares, representing 7.21% for ¥28,000 million. Suzuken Co., Ltd. (TSE:9987) announces a share repurchase program. Under the program, the company will repurchase up to 5,600,000 shares, representing 7.21% of its total shares outstanding (excluding treasury shares), for a total of ¥28,000 million. The purpose of repurchase program is to implement flexible capital policies that respond to changes in the business environment. The repurchase program is valid till March 14, 2025. As of October 31, 2024, the company had 77,667,280 shares outstanding (excluding treasury shares) and had 73,592 shares in treasury. Buy Or Sell Opportunity • Oct 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to JP¥5,149. The fair value is estimated to be JP¥6,446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are forecast to decline by 3.0% per annum over the same time period. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.3%). Buy Or Sell Opportunity • Sep 12
Now 20% undervalued Over the last 90 days, the stock has risen 11% to JP¥5,131. The fair value is estimated to be JP¥6,446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are forecast to decline by 2.4% per annum over the same time period. Announcement • Aug 28
Suzuken Co., Ltd. to Report Q2, 2025 Results on Nov 12, 2024 Suzuken Co., Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024 Board Change • Aug 21
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. 6 non-independent directors. Independent Outside Director Toshimichi Kondo was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Aug 19
Now 21% undervalued Over the last 90 days, the stock has risen 9.9% to JP¥5,104. The fair value is estimated to be JP¥6,446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are forecast to decline by 2.4% per annum over the same time period. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥63.91 (vs JP¥40.40 in 1Q 2024) First quarter 2025 results: EPS: JP¥63.91 (up from JP¥40.40 in 1Q 2024). Revenue: JP¥582.2b (up 1.5% from 1Q 2024). Net income: JP¥4.96b (up 49% from 1Q 2024). Profit margin: 0.9% (up from 0.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Healthcare 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 only increased by 15% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 01
Now 21% undervalued Over the last 90 days, the stock has risen 11% to JP¥5,375. The fair value is estimated to be JP¥6,827, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 40%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings are forecast to decline by 1.5% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 27th September 2024 Payment date: 11th December 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 5.8% 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 2.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 02
Suzuken Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Suzuken Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 18
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥358 (up from JP¥236 in FY 2023). Revenue: JP¥2.39t (up 3.1% from FY 2023). Net income: JP¥29.0b (up 43% from FY 2023). Profit margin: 1.2% (up from 0.9% 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 2.4%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Healthcare industry in Japan. 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 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 16
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥296 to JP¥329. Revenue forecast steady at JP¥2.38t. Net income forecast to shrink 8.8% next year vs 15% growth forecast for Healthcare industry in Japan . Consensus price target broadly unchanged at JP¥4,914. Share price fell 2.0% to JP¥4,683 over the past week. Announcement • May 16
Suzuken Co., Ltd., Annual General Meeting, Jun 25, 2024 Suzuken Co., Ltd., Annual General Meeting, Jun 25, 2024. Major Estimate Revision • Apr 27
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥2.33t to JP¥2.36t. EPS estimate increased from JP¥291 to JP¥327 per share. Net income forecast to shrink 15% next year vs 13% growth forecast for Healthcare industry in Japan . Consensus price target up from JP¥4,720 to JP¥4,840. Share price rose 5.4% to JP¥4,656 over the past week. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.2%). Announcement • Mar 02
Suzuken Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Suzuken Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥119 (vs JP¥85.55 in 3Q 2023) Third quarter 2024 results: EPS: JP¥119 (up from JP¥85.55 in 3Q 2023). Revenue: JP¥619.9b (flat on 3Q 2023). Net income: JP¥9.61b (up 32% from 3Q 2023). Profit margin: 1.6% (up from 1.2% in 3Q 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Suzuken Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Suzuken Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Major Estimate Revision • Nov 17
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥216 to JP¥252. Revenue forecast steady at JP¥2.29t. Net income forecast to shrink 21% next year vs 9.6% growth forecast for Healthcare industry in Japan . Consensus price target up from JP¥4,660 to JP¥4,796. Share price rose 13% to JP¥5,077 over the past week. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.09% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥152 (vs JP¥92.87 in 2Q 2023) Second quarter 2024 results: EPS: JP¥152 (up from JP¥92.87 in 2Q 2023). Revenue: JP¥620.8b (up 6.2% from 2Q 2023). Net income: JP¥12.5b (up 54% from 2Q 2023). Profit margin: 2.0% (up from 1.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 18
Price target increased by 7.5% to JP¥4,660 Up from JP¥4,335, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,463. Stock is up 39% over the past year. The company is forecast to post earnings per share of JP¥200 for next year compared to JP¥236 last year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.1%). Announcement • Aug 27
Suzuken Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Suzuken Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥40.40 (vs JP¥30.49 in 1Q 2023) First quarter 2024 results: EPS: JP¥40.40 (up from JP¥30.49 in 1Q 2023). Revenue: JP¥573.6b (up 3.6% from 1Q 2023). Net income: JP¥3.34b (up 25% from 1Q 2023). Profit margin: 0.6% (up from 0.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • May 28
Suzuken Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 Suzuken Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥236 (up from JP¥163 in FY 2022). Revenue: JP¥2.31t (up 3.7% from FY 2022). Net income: JP¥20.3b (up 41% from FY 2022). Profit margin: 0.9% (up from 0.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to stay flat during the next 3 years compared to a 7.0% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 17
Suzuken Co., Ltd., Annual General Meeting, Jun 27, 2023 Suzuken Co., Ltd., Annual General Meeting, Jun 27, 2023. Major Estimate Revision • May 16
Consensus EPS estimates fall by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥2.31t to JP¥2.23t. EPS estimate also fell from JP¥242 per share to JP¥157 per share. Net income forecast to shrink 23% next year vs 15% growth forecast for Healthcare industry in Japan . Consensus price target of JP¥4,233 unchanged from last update. Share price was steady at JP¥3,980 over the past week. Price Target Changed • May 08
Price target increased by 7.6% to JP¥4,233 Up from JP¥3,933, the current price target is an average from 3 analysts. New target price is 6.5% above last closing price of JP¥3,975. Stock is up 0.6% over the past year. The company is forecast to post earnings per share of JP¥222 for next year compared to JP¥163 last year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥36.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 05 June 2023. Payout ratio is a comfortable 33% and the cash payout ratio is 89%. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.3%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥85.55 (vs JP¥46.24 in 3Q 2022) Third quarter 2023 results: EPS: JP¥85.55 (up from JP¥46.24 in 3Q 2022). Revenue: JP¥619.6b (up 5.6% from 3Q 2022). Net income: JP¥7.31b (up 80% from 3Q 2022). Profit margin: 1.2% (up from 0.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Healthcare industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jan 12
Suzuken Co., Ltd. to Report Q3, 2023 Results on Feb 10, 2023 Suzuken Co., Ltd. announced that they will report Q3, 2023 results on Feb 10, 2023 
