Announcement • May 30
Yokohama Financial Group, Inc. to Report Q1, 2027 Results on Aug 05, 2026 Yokohama Financial Group, Inc. announced that they will report Q1, 2027 results at 3:00 PM, Tokyo Standard Time on Aug 05, 2026 Reported Earnings • May 13
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥94.03 (up from JP¥71.64 in FY 2025). Revenue: JP¥389.6b (up 21% from FY 2025). Net income: JP¥106.5b (up 29% from FY 2025). Profit margin: 27% (up from 26% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Yokohama Financial Group, Inc., Annual General Meeting, Jun 19, 2026 Yokohama Financial Group, Inc., Annual General Meeting, Jun 19, 2026. New Risk • Apr 28
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. Announcement • Mar 27
Yokohama Financial Group, Inc. to Report Fiscal Year 2026 Results on May 12, 2026 Yokohama Financial Group, Inc. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 28 May 2026. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.7%). Announcement • Mar 10
Yokohama Financial Group, Inc. Revises Dividend Guidance for the Year End of Fiscal Year Ending March 31, 2026 Yokohama Financial Group, Inc. revised dividend guidance for the year end of Fiscal Year Ending March 31, 2026. The Group has revised its year-end dividend forecast for the fiscal year ending March 31, 2026 from JPY 20 per share to JPY 21 per share, an increase of JPY 1 per share, in order to return even greater dividends to its shareholders, taking into account overall performance of its financial results and business environment. Buy Or Sell Opportunity • Mar 04
Now 21% undervalued Over the last 90 days, the stock has risen 20% to JP¥1,505. The fair value is estimated to be JP¥1,915, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 23%. Price Target Changed • Feb 19
Price target increased by 7.8% to JP¥1,543 Up from JP¥1,431, the current price target is an average from 9 analysts. New target price is 9.0% below last closing price of JP¥1,696. Stock is up 86% over the past year. The company is forecast to post earnings per share of JP¥90.61 for next year compared to JP¥71.64 last year. Announcement • Jan 31
Yokohama Financial Group, Inc. (TSE:7186) acquired an unknown minority stake in MILIZE, Inc. Yokohama Financial Group, Inc. (TSE:7186) acquired an unknown minority stake in MILIZE, Inc. on January 30, 2026. Yokohama Financial Group, Inc acquired shares of MILIZE through the subscription to a third-party allotment of newly issued shares and the purchase of shares from certain existing shareholders.
Yokohama Financial Group, Inc. (TSE:7186) completed the acquisition of an unknown minority stake in MILIZE, Inc. on January 30, 2026. Buy Or Sell Opportunity • Jan 20
Now 21% undervalued Over the last 90 days, the stock has risen 24% to JP¥1,395. The fair value is estimated to be JP¥1,768, 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 22%. Revenue is forecast to decline by 5.5% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Price Target Changed • Dec 17
Price target increased by 7.3% to JP¥1,326 Up from JP¥1,236, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥1,285. Stock is up 47% over the past year. The company is forecast to post earnings per share of JP¥92.85 for next year compared to JP¥71.64 last year. Declared Dividend • Dec 02
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 30th March 2026 Payment date: 28th May 2026 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
Yokohama Financial Group, Inc. to Report Q3, 2026 Results on Feb 05, 2026 Yokohama Financial Group, Inc. announced that they will report Q3, 2026 results on Feb 05, 2026 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 38% 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%). In line with average of industry peers (3.1%). Announcement • Sep 01
Concordia Financial Group, Ltd. to Report Q2, 2026 Results on Nov 13, 2025 Concordia Financial Group, Ltd. announced that they will report Q2, 2026 results on Nov 13, 2025 Announcement • Aug 05
Concordia Financial Group, Ltd. (TSE:7186) announces an Equity Buyback for 13,000,000 shares, representing 1.14% for ¥10,000 million. Concordia Financial Group, Ltd. (TSE:7186) announces a share repurchase program. Under the program, the company will repurchase up to 13,000,000 shares, representing 1.14% of its issued share capital, for ¥10,000 million. The purpose of the program is to enhance capital efficiency considering our business results and capital level. The program will expire on November 30, 2025. As of July 31, 2025, the company had 1,144,616,065 shares outstanding (excluding treasury shares) and 704,624 shares in treasury. Declared Dividend • Jul 09
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jun 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Mami Yoda was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 03
Concordia Financial Group, Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Concordia Financial Group, Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥71.64 (up from JP¥57.16 in FY 2024). Revenue: JP¥326.9b (up 12% from FY 2024). Net income: JP¥82.8b (up 24% from FY 2024). Profit margin: 25% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 3.6%. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥879, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Banks industry in Japan. Total returns to shareholders of 114% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,166 per share. Buy Or Sell Opportunity • Mar 31
Now 22% undervalued Over the last 90 days, the stock has risen 13% to JP¥985. The fair value is estimated to be JP¥1,266, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to decline by 0.5% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 29 May 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.1%). Price Target Changed • Mar 11
Price target increased by 7.1% to JP¥1,110 Up from JP¥1,037, the current price target is an average from 9 analysts. New target price is 24% above last closing price of JP¥894. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥69.22 for next year compared to JP¥57.16 last year. Buy Or Sell Opportunity • Mar 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to JP¥897. The fair value is estimated to be JP¥1,141, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to decline by 1.1% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Announcement • Mar 01
Concordia Financial Group, Ltd. to Report Fiscal Year 2025 Results on May 12, 2025 Concordia Financial Group, Ltd. announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2025 results: EPS: JP¥16.00 (up from JP¥13.73 in 3Q 2024). Revenue: JP¥80.5b (up 17% from 3Q 2024). Net income: JP¥18.5b (up 15% from 3Q 2024). Profit margin: 23% (in line with 3Q 2024). Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Declared Dividend • Dec 03
First half dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 28th March 2025 Payment date: 29th May 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 9.6% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Concordia Financial Group, Ltd. to Report Q3, 2025 Results on Feb 05, 2025 Concordia Financial Group, Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Price Target Changed • Nov 22
Price target increased by 7.6% to JP¥1,019 Up from JP¥947, the current price target is an average from 9 analysts. New target price is 15% above last closing price of JP¥884. Stock is up 28% over the past year. The company is forecast to post earnings per share of JP¥68.50 for next year compared to JP¥57.16 last year. Announcement • Nov 16
Concordia Financial Group, Ltd. (TSE:7186) agreed to acquire an unknown majority stake in Sumitomo Mitsui Trust Loan & Finance Co., Ltd. from Sumitomo Mitsui Trust Bank, Limited for ¥54.48 billion. Concordia Financial Group, Ltd. (TSE:7186) agreed to acquire an unknown majority stake in Sumitomo Mitsui Trust Loan & Finance Co., Ltd. from Sumitomo Mitsui Trust Bank, Limited for ¥54.48 billion on November 14, 2024. A cash consideration of ¥54.48 billion will be paid by Concordia Financial Group, Ltd. As part of consideration, ¥54.48 billion is paid towards common equity of Sumitomo Mitsui Trust Loan & Finance Co., Ltd.
For the period ending March 31, 2024, Sumitomo Mitsui Trust Loan & Finance Co., Ltd. reported total revenue of ¥18.7 billion, EBIT of ¥10.33 billion and net income of ¥6.78 billion. As of March 31, 2024, Sumitomo Mitsui Trust Loan & Finance Co., Ltd. reported total assets of ¥464.67 billion and total common equity of ¥80.82 billion.
The expected completion of the transaction is April 1, 2025. Reported Earnings • Nov 15
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥18.59 (up from JP¥14.88 in 2Q 2024). Revenue: JP¥82.4b (up 9.5% from 2Q 2024). Net income: JP¥21.6b (up 24% from 2Q 2024). Profit margin: 26% (up from 23% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 51%. Earnings per share (EPS) also surpassed analyst estimates by 3.2%. Revenue is forecast to stay flat during the next 3 years compared to a 1.6% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.5%). Announcement • Sep 11
Concordia Financial Group, Ltd. to Report Q2, 2025 Results on Nov 14, 2024 Concordia Financial Group, Ltd. announced that they will report Q2, 2025 results on Nov 14, 2024 Declared Dividend • Aug 09
Dividend of JP¥13.00 announced Shareholders will receive a dividend of JP¥13.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 9.1% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 06
First quarter 2025 earnings released: EPS: JP¥19.47 (vs JP¥17.34 in 1Q 2024) First quarter 2025 results: EPS: JP¥19.47 (up from JP¥17.34 in 1Q 2024). Revenue: JP¥76.7b (up 9.3% from 1Q 2024). Net income: JP¥22.7b (up 11% from 1Q 2024). Profit margin: 30% (in line with 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 1.0% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. 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 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥705, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Banks industry in Japan. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,331 per share. Buy Or Sell Opportunity • Jul 24
Now 21% undervalued Over the last 90 days, the stock has risen 12% to JP¥932. The fair value is estimated to be JP¥1,184, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 0.04% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Buy Or Sell Opportunity • Jul 08
Now 21% undervalued Over the last 90 days, the stock has risen 22% to JP¥932. The fair value is estimated to be JP¥1,173, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 0.04% per annum. Earnings are also forecast to grow by 9.0% per annum over the same time period. Price Target Changed • Jun 25
Price target increased by 9.6% to JP¥956 Up from JP¥873, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥937. Stock is up 69% over the past year. The company is forecast to post earnings per share of JP¥65.55 for next year compared to JP¥57.16 last year. Reported Earnings • Jun 23
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥57.16 (up from JP¥47.40 in FY 2023). Revenue: JP¥291.5b (up 9.2% from FY 2023). Net income: JP¥66.9b (up 19% from FY 2023). Profit margin: 23% (up from 21% in FY 2023). Revenue exceeded analyst estimates by 68%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Revenue is expected to fall by 1.3% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 28% per year. Price Target Changed • Jun 20
Price target increased by 8.8% to JP¥929 Up from JP¥854, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥889. Stock is up 56% over the past year. The company is forecast to post earnings per share of JP¥64.93 for next year compared to JP¥57.16 last year. Buy Or Sell Opportunity • Jun 13
Now 20% undervalued Over the last 90 days, the stock has risen 19% to JP¥888. The fair value is estimated to be JP¥1,115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings are forecast to grow by 9.5% per annum over the same time period. Announcement • Jun 02
Concordia Financial Group, Ltd. to Report Q1, 2025 Results on Aug 05, 2024 Concordia Financial Group, Ltd. announced that they will report Q1, 2025 results on Aug 05, 2024 Buy Or Sell Opportunity • May 16
Now 20% undervalued Over the last 90 days, the stock has risen 25% to JP¥886. The fair value is estimated to be JP¥1,108, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings are forecast to grow by 9.5% per annum over the same time period. Reported Earnings • May 15
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥57.16 (up from JP¥47.40 in FY 2023). Revenue: JP¥295.7b (up 11% from FY 2023). Net income: JP¥66.9b (up 19% from FY 2023). Profit margin: 23% (up from 21% in FY 2023). Cost-to-income ratio: 59.7% (up from 58.0% in FY 2023). Non-performing loans: 1.42% (down from 1.54% in FY 2023). Revenue exceeded analyst estimates by 68%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Revenue is forecast to stay flat during the next 3 years compared to a 4.1% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 29% per year. Announcement • May 15
Concordia Financial Group, Ltd., Annual General Meeting, Jun 21, 2024 Concordia Financial Group, Ltd., Annual General Meeting, Jun 21, 2024. Price Target Changed • Apr 08
Price target increased by 7.9% to JP¥823 Up from JP¥763, the current price target is an average from 8 analysts. New target price is 7.4% above last closing price of JP¥766. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥55.90 for next year compared to JP¥47.40 last year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.9%). Price Target Changed • Mar 12
Price target increased by 7.5% to JP¥809 Up from JP¥753, the current price target is an average from 8 analysts. New target price is 7.3% above last closing price of JP¥754. Stock is up 53% over the past year. The company is forecast to post earnings per share of JP¥55.13 for next year compared to JP¥47.40 last year. Announcement • Mar 02
Concordia Financial Group, Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Concordia Financial Group, Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: JP¥13.73 (vs JP¥13.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥13.73 (down from JP¥13.87 in 3Q 2023). Revenue: JP¥76.1b (up 12% from 3Q 2023). Net income: JP¥16.1b (down 2.1% from 3Q 2023). Profit margin: 21% (down from 24% in 3Q 2023). Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Banks industry in Japan are expected to grow by 1.9%. 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 21% per year. Announcement • Nov 29
Concordia Financial Group, Ltd. to Report Q3, 2024 Results on Feb 05, 2024 Concordia Financial Group, Ltd. announced that they will report Q3, 2024 results on Feb 05, 2024 Reported Earnings • Nov 13
Second quarter 2024 earnings released: EPS: JP¥14.88 (vs JP¥10.17 in 2Q 2023) Second quarter 2024 results: EPS: JP¥14.88 (up from JP¥10.17 in 2Q 2023). Revenue: JP¥80.9b (up 25% from 2Q 2023). Net income: JP¥17.5b (up 45% from 2Q 2023). Profit margin: 22% (up from 19% in 2Q 2023). Revenue is expected to fall by 1.1% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. Price Target Changed • Oct 06
Price target increased by 9.3% to JP¥701 Up from JP¥642, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥687. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥55.05 for next year compared to JP¥47.40 last year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥11.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.2%). Announcement • Aug 27
Concordia Financial Group, Ltd. to Report Q2, 2024 Results on Nov 14, 2023 Concordia Financial Group, Ltd. announced that they will report Q2, 2024 results on Nov 14, 2023 New Risk • Aug 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥17.34 (vs JP¥14.56 in 1Q 2023) First quarter 2024 results: EPS: JP¥17.34 (up from JP¥14.56 in 1Q 2023). Revenue: JP¥71.2b (up 3.7% from 1Q 2023). Net income: JP¥20.4b (up 18% from 1Q 2023). Profit margin: 29% (up from 25% in 1Q 2023). Revenue is expected to fall by 2.6% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 02
Concordia Financial Group, Ltd. to Report Q1, 2024 Results on Aug 03, 2023 Concordia Financial Group, Ltd. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥47.40 (up from JP¥44.68 in FY 2022). Revenue: JP¥270.4b (flat on FY 2022). Net income: JP¥56.2b (up 4.2% from FY 2022). Profit margin: 21% (in line with FY 2022). Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Revenue is forecast to decline by 4.6% p.a. on average during the next 3 years, while revenues in the Banks industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Concordia Financial Group, Ltd., Annual General Meeting, Jun 21, 2023 Concordia Financial Group, Ltd., Annual General Meeting, Jun 21, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.50 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥493, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Banks industry in Japan. Total returns to shareholders of 107% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥682 per share. Buying Opportunity • Mar 13
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be JP¥679, however this is not to be taken as a buy 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 5.2%. For the next 3 years, revenue is forecast to decline by 1.3% per annum. Earnings is forecast to grow by 8.5% per annum over the same time period. Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥13.87 (vs JP¥11.74 in 3Q 2022) Third quarter 2023 results: EPS: JP¥13.87 (up from JP¥11.74 in 3Q 2022). Revenue: JP¥76.1b (up 16% from 3Q 2022). Net income: JP¥16.4b (up 16% from 3Q 2022). Profit margin: 22% (in line with 3Q 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Announcement • Feb 04
Concordia Financial Group, Ltd. (TSE:7186) announces an Equity Buyback for 17,600,000 shares, representing 1.46% for ¥6,000 million. Concordia Financial Group, Ltd. (TSE:7186) announces a share repurchase program. Under the program, the company will repurchase up to 17,600,000 shares, representing 1.46% of its issued share capital, for ¥6,000 million. The purpose of the program is to improve capital efficiency by returning profits to shareholders. The program will expire on March 24, 2023. As of January 31, 2023, the company had 1,209,616,065 shares outstanding (excluding treasury shares) and 22,499,068 shares in treasury. Price Target Changed • Feb 02
Price target increased by 8.1% to JP¥572 Up from JP¥529, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥549. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥45.50 for next year compared to JP¥44.68 last year. Buying Opportunity • Jan 05
Now 21% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be JP¥698, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 1.7% per annum. Earnings is forecast to grow by 6.2% per annum over the same time period. Announcement • Nov 27
Concordia Financial Group, Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Concordia Financial Group, Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥10.17 (vs JP¥12.57 in 2Q 2022) Second quarter 2023 results: EPS: JP¥10.17 (down from JP¥12.57 in 2Q 2022). Revenue: JP¥71.5b (up 7.0% from 2Q 2022). Net income: JP¥12.0b (down 21% from 2Q 2022). Profit margin: 17% (down from 23% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Banks industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Board Change • Nov 16
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Outside Audit & Supervisory Board Member Keiichiro Hashimoto is the most experienced director on the board, commencing their role in 2016. Outside Independent Director Yoshinobu Yamada was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 
