Major Estimate Revision • Jun 27
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has improved. 2027 revenue forecast increased from JP¥260.1b to JP¥263.3b. EPS estimate increased from JP¥105 to JP¥116 per share. Net income forecast to shrink 4.2% next year vs 2.6% growth forecast for Metals and Mining industry in Japan . Consensus price target up from JP¥1,439 to JP¥1,683. Share price rose 3.9% to JP¥1,710 over the past week. Announcement • Jun 03
Maruichi Steel Tube Ltd. to Report Q1, 2027 Results on Aug 07, 2026 Maruichi Steel Tube Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 New Risk • May 15
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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (320% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥118. Revenue: JP¥243.8b (down 6.8% from FY 2025). Net income: JP¥26.7b (down 1.3% from FY 2025). Profit margin: 11% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Metals and Mining industry in Japan. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,793, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Metals and Mining industry in Japan. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,193 per share. Announcement • May 14
Maruichi Steel Tube Ltd. (TSE:5463) announces an Equity Buyback for 6,000,000 shares, representing 2.71% for ¥10,000 million. Maruichi Steel Tube Ltd. (TSE:5463) announces a share repurchase program. Under the program, the company will repurchase up to 6,000,000 shares, representing 2.71% of its issued share capital (excluding treasury stock), for a total purchase price of ¥10,000 million. The purpose of the program is to enable flexible capital policy implementation in response to the business environment. The program will be valid till March 31, 2027. As of April 30, 2026, the company had 221,629,134 issued shares (excluding treasury stock) and 30,370,866 treasury shares. Announcement • May 13
Maruichi Steel Tube Ltd., Annual General Meeting, Jun 24, 2026 Maruichi Steel Tube Ltd., Annual General Meeting, Jun 24, 2026. Announcement • May 09
Maruichi Steel Tube Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Maruichi Steel Tube Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥22.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥28.32 (vs JP¥16.19 in 3Q 2025) Third quarter 2026 results: EPS: JP¥28.32 (up from JP¥16.19 in 3Q 2025). Revenue: JP¥62.6b (down 4.1% from 3Q 2025). Net income: JP¥6.37b (up 62% from 3Q 2025). Profit margin: 10% (up from 6.0% in 3Q 2025). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining 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 increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 10
Price target increased by 8.8% to JP¥1,439 Up from JP¥1,322, the current price target is an average from 3 analysts. New target price is 13% below last closing price of JP¥1,650. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥97.25 for next year compared to JP¥113 last year. Buy Or Sell Opportunity • Jan 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥1,471. The fair value is estimated to be JP¥1,218, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are forecast to decline by 2.5% per annum over the same time period. Declared Dividend • Nov 29
First half dividend of JP¥22.50 announced Shareholders will receive a dividend of JP¥22.50. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 6.2%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (13% earnings payout ratio) but not covered by cash flows (322% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 26% over the next 3 years. However, it would need to fall by 85% to increase the payout ratio to a potentially unsustainable range. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% 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 Risk Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (290% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Nov 12
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥60.8b (down 7.8% from 2Q 2025). Net income: JP¥6.57b (up JP¥5.72b from 2Q 2025). Profit margin: 11% (up from 1.3% in 2Q 2025). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Metals and Mining industry in Japan. Price Target Changed • Oct 07
Price target increased by 7.1% to JP¥1,333 Up from JP¥1,244, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,297. Stock is up 16% over the past year. The company is forecast to post earnings per share of JP¥98.77 for next year compared to JP¥113 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥67.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.2%). Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥53.81 (vs JP¥81.74 in 1Q 2025) First quarter 2026 results: EPS: JP¥53.81 (down from JP¥81.74 in 1Q 2025). Revenue: JP¥59.7b (down 12% from 1Q 2025). Net income: JP¥4.12b (down 37% from 1Q 2025). Profit margin: 6.9% (down from 9.6% in 1Q 2025). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥67.00 announced Shareholders will receive a dividend of JP¥67.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but not covered by cash flows (292% cash payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 08
Maruichi Steel Tube Ltd. Provides Year End Dividend Guidance for the Fiscal Year Ending March 31, 2026 Maruichi Steel Tube Ltd. provided year end dividend guidance for the Fiscal year ending March 31, 2026. For the year ending March 31, 2026, the company expects to pay a dividend of JPY 67. 00 per share against JPY 76.00 per share paid for the same period a year ago. New Risk • Jun 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% 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 Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (285% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Jun 25
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥338 (up from JP¥328 in FY 2024). Revenue: JP¥261.6b (down 3.6% from FY 2024). Net income: JP¥27.0b (up 3.5% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 10
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥338 (up from JP¥328 in FY 2024). Revenue: JP¥261.6b (down 3.6% from FY 2024). Net income: JP¥27.0b (up 3.5% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 09
Maruichi Steel Tube Ltd., Annual General Meeting, Jun 24, 2025 Maruichi Steel Tube Ltd., Annual General Meeting, Jun 24, 2025. Announcement • Apr 08
Large Crown Limited entered into an equity transfer agreement to acquire 35% stake in Maruichi Metal Product (Foshan) Co., Ltd. from Maruichi Steel Tube Ltd. (TSE:5463). Large Crown Limited entered into an equity transfer agreement to acquire 35% stake in Maruichi Metal Product (Foshan) Co., Ltd. from Maruichi Steel Tube Ltd. (TSE:5463) on April 7, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥76.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.1%). Major Estimate Revision • Feb 21
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from JP¥274.9b to JP¥270.6b. EPS estimate rose from JP¥291 to JP¥325. Net income forecast to grow 41% next year vs 5.1% growth forecast for Metals and Mining industry in Japan. Consensus price target down from JP¥3,967 to JP¥3,867. Share price fell 2.1% to JP¥3,457 over the past week. Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: JP¥48.58 (vs JP¥79.75 in 3Q 2024) Third quarter 2025 results: EPS: JP¥48.58 (down from JP¥79.75 in 3Q 2024). Revenue: JP¥65.3b (down 4.5% from 3Q 2024). Net income: JP¥3.94b (down 38% from 3Q 2024). Profit margin: 6.0% (down from 9.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Dec 06
Maruichi Steel Tube Ltd. (TSE:5463) announces an Equity Buyback for 5,500,000 shares, representing 6.76% for ¥20,000 million. Maruichi Steel Tube Ltd. (TSE:5463) announces a share repurchase program. Under the program, the company will repurchase up to 5,500,000 shares, representing 6.76% of its issued share capital (excluding treasury stock), for a total purchase price of ¥20,000 million. The purpose of the program is to enable improvement of capital efficiency and agile execution of capital policy. The repurchased shares will be cancelled. The program will be valid till June 20, 2025. As of September 30, 2024, the company had 81,347,939 issued shares (excluding treasury stock) and 2,652,061 treasury shares. Announcement • Dec 03
Maruichi Steel Tube Ltd. to Report Q3, 2025 Results on Feb 10, 2025 Maruichi Steel Tube Ltd. announced that they will report Q3, 2025 results on Feb 10, 2025 Declared Dividend • Nov 30
First half dividend of JP¥76.00 announced Dividend of JP¥76.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% 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¥10.69 (vs JP¥91.99 in 2Q 2024) Second quarter 2025 results: EPS: JP¥10.69 (down from JP¥91.99 in 2Q 2024). Revenue: JP¥66.0b (down 3.1% from 2Q 2024). Net income: JP¥856.0m (down 88% from 2Q 2024). Profit margin: 1.3% (down from 11% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (4.3%). Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥81.74 (vs JP¥85.02 in 1Q 2024) First quarter 2025 results: EPS: JP¥81.74 (down from JP¥85.02 in 1Q 2024). Revenue: JP¥67.5b (flat on 1Q 2024). Net income: JP¥6.51b (down 3.8% from 1Q 2024). Profit margin: 9.6% (in line with 1Q 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining 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 6% per year. Announcement • Aug 06
Maruichi Steel Tube Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Maruichi Steel Tube Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,034, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,758 per share. Major Estimate Revision • Jul 13
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥285.7b to JP¥281.8b. EPS estimate also fell from JP¥314 per share to JP¥282 per share. Net income forecast to shrink 14% next year vs 4.0% growth forecast for Metals and Mining industry in Japan . Consensus price target broadly unchanged at JP¥4,100. Share price was steady at JP¥3,809 over the past week. Declared Dividend • Jul 11
Final dividend of JP¥55.00 announced Dividend of JP¥55.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 3.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
Maruichi Steel Tube Ltd. to Report Q1, 2025 Results on Aug 07, 2024 Maruichi Steel Tube Ltd. announced that they will report Q1, 2025 results on Aug 07, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥328 (up from JP¥303 in FY 2023). Revenue: JP¥271.3b (flat on FY 2023). Net income: JP¥26.1b (up 8.1% from FY 2023). Profit margin: 9.6% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.9%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Announcement • May 12
Maruichi Steel Tube Ltd., Annual General Meeting, Jun 25, 2024 Maruichi Steel Tube Ltd., Annual General Meeting, Jun 25, 2024. Buy Or Sell Opportunity • Apr 25
Now 22% undervalued Over the last 90 days, the stock has risen 6.0% to JP¥4,014. The fair value is estimated to be JP¥5,127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 0.9% per annum over the same time period. Buy Or Sell Opportunity • Mar 28
Now 21% undervalued Over the last 90 days, the stock has risen 9.7% to JP¥4,026. The fair value is estimated to be JP¥5,092, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 0.6% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥69.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (3.5%). Announcement • Mar 02
Maruichi Steel Tube Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Maruichi Steel Tube Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% 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 Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥79.75 (vs JP¥68.53 in 3Q 2023) Third quarter 2024 results: EPS: JP¥79.75 (up from JP¥68.53 in 3Q 2023). Revenue: JP¥68.4b (down 1.6% from 3Q 2023). Net income: JP¥6.35b (up 16% from 3Q 2023). Profit margin: 9.3% (up from 7.8% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Metals and Mining 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 16% per year. Announcement • Nov 27
Maruichi Steel Tube Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Maruichi Steel Tube Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥91.99 (vs JP¥94.10 in 2Q 2023) Second quarter 2024 results: EPS: JP¥91.99 (down from JP¥94.10 in 2Q 2023). Revenue: JP¥68.1b (down 6.5% from 2Q 2023). Net income: JP¥7.33b (down 2.2% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Metals and Mining 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 16% per year, which means it is significantly lagging earnings growth. New Risk • Sep 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% 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 Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥55.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.2%). Announcement • Aug 27
Maruichi Steel Tube Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Maruichi Steel Tube Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥85.02 (vs JP¥80.95 in 1Q 2023) First quarter 2024 results: EPS: JP¥85.02 (up from JP¥80.95 in 1Q 2023). Revenue: JP¥67.1b (up 2.3% from 1Q 2023). Net income: JP¥6.77b (up 4.9% from 1Q 2023). Profit margin: 10% (in line with 1Q 2023). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. 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 10% per year, which means it is significantly lagging earnings growth. Announcement • May 28
Maruichi Steel Tube Ltd. to Report Q1, 2024 Results on Aug 07, 2023 Maruichi Steel Tube Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Reported Earnings • May 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥303 (down from JP¥341 in FY 2022). Revenue: JP¥273.4b (up 22% from FY 2022). Net income: JP¥24.2b (down 13% from FY 2022). Profit margin: 8.8% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.9%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Maruichi Steel Tube Ltd., Annual General Meeting, Jun 23, 2023 Maruichi Steel Tube Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥69.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.6%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥68.53 (vs JP¥102 in 3Q 2022) Third quarter 2023 results: EPS: JP¥68.53 (down from JP¥102 in 3Q 2022). Revenue: JP¥69.5b (up 14% from 3Q 2022). Net income: JP¥5.46b (down 34% from 3Q 2022). Profit margin: 7.8% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 27
Maruichi Steel Tube Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Maruichi Steel Tube Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥94.10 (vs JP¥89.90 in 2Q 2022) Second quarter 2023 results: EPS: JP¥94.10 (up from JP¥89.90 in 2Q 2022). Revenue: JP¥72.9b (up 35% from 2Q 2022). Net income: JP¥7.49b (up 1.8% from 2Q 2022). Profit margin: 10% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent External Director Kenichiro Ushino was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥94.10 (vs JP¥89.90 in 2Q 2022) Second quarter 2023 results: EPS: JP¥94.10 (up from JP¥89.90 in 2Q 2022). Revenue: JP¥72.9b (up 35% from 2Q 2022). Net income: JP¥7.49b (up 1.8% from 2Q 2022). Profit margin: 10% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 