Buy Or Sell Opportunity • Jun 09
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to JP¥2,918. The fair value is estimated to be JP¥2,377, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 72% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Live News • May 11
Yamaguchi Financial Group Approves ¥10 Billion Share Buyback Covering 2.42% of Stock Yamaguchi Financial Group has approved a share repurchase program of up to 5,000,000 common shares, equal to 2.42% of its outstanding stock.
The buyback is scheduled to run on the Tokyo Stock Exchange from May 11 to October 30, 2026.
The total amount allocated for the repurchase is capped at ¥10 billion, with the stated aim of improving shareholder returns and capital efficiency.
A buyback of this size indicates that the company is using a defined pool of capital to reduce share count and return cash to shareholders.
It may be useful to monitor how actively the company utilizes this authorization over the coming months, since the pace and scale of actual repurchases can affect capital levels and per-share metrics. New Risk • May 11
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. Buy Or Sell Opportunity • May 11
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 5.8% to JP¥2,900. The fair value is estimated to be JP¥2,350, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 74% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Reported Earnings • May 09
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥157 (down from JP¥165 in FY 2025). Revenue: JP¥214.7b (up 22% from FY 2025). Net income: JP¥33.0b (down 6.6% from FY 2025). Profit margin: 15% (down from 20% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 25% p.a. on average during the next 2 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 29% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Yamaguchi Financial Group, Inc. to Report Fiscal Year 2026 Results on May 08, 2026 Yamaguchi Financial Group, Inc. announced that they will report fiscal year 2026 results on May 08, 2026 Major Estimate Revision • Apr 17
Consensus revenue estimates increase by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from JP¥224.3b to JP¥259.2b. EPS estimate unchanged at JP¥160. Net income forecast to grow 2.7% next year vs 14% growth forecast for Banks industry in Japan. Consensus price target up from JP¥2,300 to JP¥2,900. Share price rose 3.0% to JP¥2,781 over the past week. Buy Or Sell Opportunity • Mar 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to JP¥2,511. The fair value is estimated to be JP¥2,079, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.7%). Buy Or Sell Opportunity • Mar 05
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to JP¥2,576. The fair value is estimated to be JP¥2,080, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥34.70 (vs JP¥42.24 in 3Q 2025) Third quarter 2026 results: EPS: JP¥34.70 (down from JP¥42.24 in 3Q 2025). Revenue: JP¥58.2b (up 26% from 3Q 2025). Net income: JP¥7.30b (down 19% from 3Q 2025). Profit margin: 13% (down from 19% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 44% per year. Price Target Changed • Jan 19
Price target increased by 24% to JP¥2,300 Up from JP¥1,850, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,365. Stock is up 43% over the past year. The company is forecast to post earnings per share of JP¥159 for next year compared to JP¥165 last year. Buy Or Sell Opportunity • Jan 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to JP¥2,167. The fair value is estimated to be JP¥1,779, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to decline by 0.5% in the next 2 years. Announcement • Dec 23
Yamaguchi Financial Group, Inc. to Report Q3, 2026 Results on Feb 06, 2026 Yamaguchi Financial Group, Inc. announced that they will report Q3, 2026 results on Feb 06, 2026 Buy Or Sell Opportunity • Dec 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to JP¥2,154. The fair value is estimated to be JP¥1,786, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to decline by 0.5% in the next 2 years. Declared Dividend • Dec 11
First half dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 30th March 2026 Payment date: 15th June 2026 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 16% 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. New Risk • Dec 05
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Nov 26
Yamaguchi Financial Group, Inc. (TSE:8418) announces an Equity Buyback for 10,000,000 shares, representing 4.74% for ¥15,000 million. Yamaguchi Financial Group, Inc. (TSE:8418) announces a share repurchase program. Under the program, the company will repurchase 10,000,000 shares, representing 4.74% of its share capital, for ¥15,000 million. The purpose of the program is to enhance return of profits to shareholders by improving capital efficiency. The program will run until October 30, 2026. As of September 30, 2025, the company had 211,077,779 shares outstanding (excluding treasury shares) and 23,689,837 shares in treasury. Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥56.19 (vs JP¥21.73 in 2Q 2025) Second quarter 2026 results: EPS: JP¥56.19 (up from JP¥21.73 in 2Q 2025). Revenue: JP¥42.7b (up 5.0% from 2Q 2025). Net income: JP¥11.9b (up 154% from 2Q 2025). Profit margin: 28% (up from 12% in 2Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 05
Price target increased by 8.3% to JP¥1,950 Up from JP¥1,800, the current price target is an average from 2 analysts. New target price is 10% above last closing price of JP¥1,770. Stock is up 10% over the past year. The company is forecast to post earnings per share of JP¥156 for next year compared to JP¥165 last year. Major Estimate Revision • Oct 11
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥226.2b to JP¥223.3b. EPS estimate also fell from JP¥180 per share to JP¥156 per share. Net income forecast to grow 7.6% next year vs 17% growth forecast for Banks industry in Japan. Consensus price target up from JP¥1,800 to JP¥1,850. Share price fell 4.0% to JP¥1,707 over the past week. Announcement • Sep 25
Yamaguchi Financial Group, Inc. to Report Q2, 2026 Results on Nov 14, 2025 Yamaguchi Financial Group, Inc. announced that they will report Q2, 2026 results on Nov 14, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.1%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥45.81 (vs JP¥53.12 in 1Q 2025) First quarter 2026 results: EPS: JP¥45.81 (down from JP¥53.12 in 1Q 2025). Revenue: JP¥43.0b (down 12% from 1Q 2025). Net income: JP¥9.67b (down 16% from 1Q 2025). Profit margin: 23% (in line with 1Q 2025). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Board Change • Jul 18
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 Kenko Shikichi 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. Declared Dividend • Jul 09
Final dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 16% 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 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 08
Hoken No Madoguchi Group Inc. agreed to acquire 90% stake in Hoken Hiroba Co., Ltd. from Yamaguchi Financial Group, Inc. (TSE:8418). Hoken No Madoguchi Group Inc. agreed to acquire 90% stake in Hoken Hiroba Co., Ltd. from Yamaguchi Financial Group, Inc. (TSE:8418) on July 8, 2025. Under the terms, Hoken No Madoguchi Group acquired 720 shares of Hoken Hiroba Co., Ltd. Buy Or Sell Opportunity • Jul 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.5% to JP¥1,567. The fair value is estimated to be JP¥1,293, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Announcement • Jun 29
Yamaguchi Financial Group, Inc. to Report Q1, 2026 Results on Aug 08, 2025 Yamaguchi Financial Group, Inc. announced that they will report Q1, 2026 results on Aug 08, 2025 Buy Or Sell Opportunity • Jun 03
Now 20% overvalued Over the last 90 days, the stock has fallen 5.4% to JP¥1,564. The fair value is estimated to be JP¥1,300, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. New Risk • May 13
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 7.3% 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. Reported Earnings • May 11
Full year 2025 earnings released: EPS: JP¥165 (vs JP¥114 in FY 2024) Full year 2025 results: EPS: JP¥165 (up from JP¥114 in FY 2024). Revenue: JP¥177.1b (up 21% from FY 2024). Net income: JP¥35.3b (up 40% from FY 2024). Profit margin: 20% (up from 17% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 27, 2025 Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 27, 2025. Buy Or Sell Opportunity • May 07
Now 21% overvalued Over the last 90 days, the stock has fallen 2.6% to JP¥1,636. The fair value is estimated to be JP¥1,352, 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 62%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 59% in the next 2 years. 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¥1,574, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Banks industry in Japan. Total returns to shareholders of 155% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,310 per share. Announcement • Mar 28
Yamaguchi Financial Group, Inc. to Report Fiscal Year 2025 Results on May 09, 2025 Yamaguchi Financial Group, Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. 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 (3.7%). In line with average of industry peers (3.1%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥42.24 (vs JP¥36.59 in 3Q 2024) Third quarter 2025 results: EPS: JP¥42.24 (up from JP¥36.59 in 3Q 2024). Revenue: JP¥46.4b (up 13% from 3Q 2024). Net income: JP¥9.00b (up 12% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jan 03
Yamaguchi Financial Group, Inc. to Report Q3, 2025 Results on Feb 07, 2025 Yamaguchi Financial Group, Inc. announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Dec 11
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 16% 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 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥21.73 (vs JP¥21.63 in 2Q 2024) Second quarter 2025 results: EPS: JP¥21.73. Revenue: JP¥44.8b (up 34% from 2Q 2024). Net income: JP¥4.67b (down 2.6% from 2Q 2024). Profit margin: 10% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Banks industry in Japan. Announcement • Oct 01
Yamaguchi Financial Group, Inc. to Report Q2, 2025 Results on Nov 08, 2024 Yamaguchi Financial Group, Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.5%). Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥53.12 (vs JP¥39.08 in 1Q 2024) First quarter 2025 results: EPS: JP¥53.12 (up from JP¥39.08 in 1Q 2024). Revenue: JP¥49.0b (up 32% from 1Q 2024). Net income: JP¥11.5b (up 31% from 1Q 2024). Profit margin: 24% (in line with 1Q 2024). Revenue is forecast to grow 9.7% 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 20% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥1,371, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Banks industry in Japan. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,236 per share. Declared Dividend • Jul 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 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 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 29
Yamaguchi Financial Group, Inc. to Report Q1, 2025 Results on Aug 02, 2024 Yamaguchi Financial Group, Inc. announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 13
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥114 (up from JP¥77.41 in FY 2023). Revenue: JP¥148.0b (up 13% from FY 2023). Net income: JP¥25.2b (up 41% from FY 2023). Profit margin: 17% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.5%. Revenue is forecast to grow 16% p.a. on average during the next 2 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 remained flat but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 13
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to JP¥1,823. The fair value is estimated to be JP¥1,439, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company has become profitable. Announcement • May 12
Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 27, 2024 Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 27, 2024. Announcement • May 11
Yamaguchi Financial Group, Inc. (TSE:8418) announces an Equity Buyback for 10,000,000 shares, representing 4.61% for ¥10,000 million. Yamaguchi Financial Group, Inc. (TSE:8418) announces a share repurchase program. Under the program, the company will repurchase 10,000,000 shares, representing 4.61% of its share capital, for ¥10,000 million. The purpose of the program is to improve capital efficiency and return profits to shareholders. The program will run until March 24, 2025. As of March 31, 2024, the company had 216,912,408 shares outstanding (excluding treasury shares) and 17,855,208 shares in treasury. Announcement • Mar 31
Yamaguchi Financial Group, Inc. to Report Fiscal Year 2024 Results on May 10, 2024 Yamaguchi Financial Group, Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.9%). Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥36.59 (vs JP¥28.45 in 3Q 2023) Third quarter 2024 results: EPS: JP¥36.59 (up from JP¥28.45 in 3Q 2023). Revenue: JP¥42.5b (up 28% from 3Q 2023). Net income: JP¥8.03b (up 23% from 3Q 2023). Profit margin: 19% (in line with 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Dec 21
Yamaguchi Financial Group, Inc. to Report Q3, 2024 Results on Feb 02, 2024 Yamaguchi Financial Group, Inc. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥21.63 (vs JP¥19.90 in 2Q 2023) Second quarter 2024 results: EPS: JP¥21.63 (up from JP¥19.90 in 2Q 2023). Revenue: JP¥35.2b (up 8.7% from 2Q 2023). Net income: JP¥4.80b (up 3.5% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Sep 24
Yamaguchi Financial Group, Inc. to Report Q2, 2024 Results on Nov 10, 2023 Yamaguchi Financial Group, Inc. announced that they will report Q2, 2024 results on Nov 10, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥21.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.2%). Reported Earnings • Aug 06
First quarter 2024 earnings released: EPS: JP¥39.08 (vs JP¥32.24 in 1Q 2023) First quarter 2024 results: EPS: JP¥39.08 (up from JP¥32.24 in 1Q 2023). Revenue: JP¥37.0b (up 3.8% from 1Q 2023). Net income: JP¥8.77b (up 15% from 1Q 2023). Profit margin: 24% (up from 21% in 1Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 4.4% decline forecast for the Banks industry in Japan. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Buying Opportunity • Jul 11
Now 20% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be JP¥1,270, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 41% in 2 years. Earnings is forecast to grow by 54% in the next 2 years. Announcement • Jun 26
Yamaguchi Financial Group, Inc. to Report Q1, 2024 Results on Aug 04, 2023 Yamaguchi Financial Group, Inc. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥77.41 (up from JP¥53.28 loss in FY 2022). Revenue: JP¥134.1b (up 20% from FY 2022). Net income: JP¥17.9b (up JP¥30.9b from FY 2022). Profit margin: 13% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 16% p.a. on average during the next 2 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 fallen by 56% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • May 14
Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 28, 2023 Yamaguchi Financial Group, Inc., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.0%). Price Target Changed • Feb 14
Price target increased by 22% to JP¥875 Up from JP¥720, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥907. Stock is up 23% over the past year. The company is forecast to post earnings per share of JP¥75.00 next year compared to a net loss per share of JP¥53.28 last year. Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥28.45 (vs JP¥35.61 in 3Q 2022) Third quarter 2023 results: EPS: JP¥28.45 (down from JP¥35.61 in 3Q 2022). Revenue: JP¥36.2b (flat on 3Q 2022). Net income: JP¥6.52b (down 25% from 3Q 2022). Profit margin: 18% (down from 24% in 3Q 2022). Revenue is forecast to grow 21% 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, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Dec 18
Yamaguchi Financial Group, Inc. to Report Q3, 2023 Results on Feb 03, 2023 Yamaguchi Financial Group, Inc. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
High number of new directors There are 9 new directors who have joined the board in the last 3 years. Director Mitsuru Kato was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥19.90 (vs JP¥21.22 in 2Q 2022) Second quarter 2023 results: EPS: JP¥19.90 (down from JP¥21.22 in 2Q 2022). Revenue: JP¥34.8b (up 9.4% from 2Q 2022). Net income: JP¥4.64b (down 12% from 2Q 2022). Profit margin: 13% (down from 17% in 2Q 2022). Revenue is forecast to grow 15% 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 fallen by 51% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Sep 28
Price target increased to JP¥780 Up from JP¥720, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥762. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥74.70 next year compared to a net loss per share of JP¥53.28 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.4%). Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥32.24 (vs JP¥27.91 in 1Q 2022) First quarter 2023 results: EPS: JP¥32.24 (up from JP¥27.91 in 1Q 2022). Revenue: JP¥36.0b (up 3.3% from 1Q 2022). Net income: JP¥7.63b (up 11% from 1Q 2022). Profit margin: 21% (up from 20% in 1Q 2022). Over the next year, revenue is forecast to grow 40% while the industry in Japan is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • May 17
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: JP¥53.28 loss per share (down from JP¥99.63 profit in FY 2021). Revenue: JP¥119.4b (down 29% from FY 2021). Net loss: JP¥13.0b (down 152% from profit in FY 2021). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 30% compared to a 20% decline forecast for the banks 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. Board Change • Apr 27
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Director Narumasa Soga was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (4.0%). Major Estimate Revision • Mar 12
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from JP¥153.3b to JP¥130.9b. EPS estimate increased from JP¥103 to JP¥115 per share. Net income forecast to shrink 13% next year vs 0.7% decline forecast for Banks industry in Japan. Consensus price target broadly unchanged at JP¥720. Share price rose 3.3% to JP¥716 over the past week. Reported Earnings • Feb 07
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥35.61 (up from JP¥35.19 in 3Q 2021). Revenue: JP¥41.8b (down 25% from 3Q 2021). Net income: JP¥8.66b (flat on 3Q 2021). Profit margin: 21% (up from 16% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates by 9.9%. Over the next year, revenue is forecast to stay flat compared to a 15% decline forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥21.22 (vs JP¥18.35 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2022 results: Revenue: JP¥37.2b (up 18% from 2Q 2021). Net income: JP¥5.25b (up 13% from 2Q 2021). Profit margin: 14% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (4.3%). Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥27.91 (vs JP¥15.01 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥35.9b (up 11% from 1Q 2021). Net income: JP¥6.90b (up 81% from 1Q 2021). Profit margin: 19% (up from 12% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Board Change • Aug 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Takeshi Yoshimura is the most experienced director on the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Jul 02
Director & Audit and Supervisory Committee Member Susumu Fukuda has left the company On the 25th of June, Susumu Fukuda's tenure as Director & Audit and Supervisory Committee Member ended. We don't have any record of a personal shareholding under Susumu's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.08 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 02
Outside Independent Director Masao Kusunoki has left the company On the 25th of June, Masao Kusunoki's tenure as Outside Independent Director ended after 3.0 years in the role. We don't have any record of a personal shareholding under Masao's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.08 years, which is considered inexperienced in the Simply Wall St Risk Model. 
