Announcement • Jun 27
Sanyo Denki Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Sanyo Denki Co., Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Reported Earnings • Jun 23
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥244 (up from JP¥158 in FY 2025). Revenue: JP¥107.3b (up 9.7% from FY 2025). Net income: JP¥8.66b (up 54% from FY 2025). Profit margin: 8.1% (up from 5.8% 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 6.3%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Live News • May 23
Sanyo Denki Targets Faster Execution and 10% ROE With 887 Initiative Plan to 2030 Sanyo Denki has set out its 10th Mid-Term Plan running to 2030, built around turning speed and time efficiency into a source of competitive power.
The plan includes 887 specific initiatives and a financial target of ROE above 10%.
Management is also committing to about a 50% dividend payout ratio, with an emphasis on progressive dividends and flexible share buybacks.
The focus on time, shorter lead times and operating quality points to a clear push to differentiate on execution rather than just product specifications or pricing.
The combination of a defined ROE target and a stated dividend and buyback framework gives investors more visibility into how management is thinking about capital allocation and shareholder returns, though actual outcomes will still depend on how well the 887 initiatives are carried out. Major Estimate Revision • May 08
Consensus revenue estimates increase by 14% The consensus outlook for revenues in fiscal year 2027 has improved. 2027 revenue forecast increased from JP¥114.5b to JP¥131.0b. EPS estimate increased from JP¥269 to JP¥321 per share. Net income forecast to grow 32% next year vs 9.5% growth forecast for Electrical industry in Japan. Consensus price target up from JP¥4,400 to JP¥7,300. Share price rose 9.9% to JP¥7,440 over the past week. Reported Earnings • Apr 28
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥244 (up from JP¥158 in FY 2025). Revenue: JP¥107.3b (up 9.7% from FY 2025). Net income: JP¥8.66b (up 54% from FY 2025). Profit margin: 8.1% (up from 5.8% 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 6.3%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Announcement • Apr 27
Sanyo Denki Co., Ltd., Annual General Meeting, Jun 18, 2026 Sanyo Denki Co., Ltd., Annual General Meeting, Jun 18, 2026. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥6,000, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Electrical industry in Japan. Total returns to shareholders of 182% over the past three years. New Risk • Apr 25
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 • Apr 21
Sanyo Denki Co., Ltd. to Report Fiscal Year 2026 Results on Apr 27, 2026 Sanyo Denki Co., Ltd. announced that they will report fiscal year 2026 results on Apr 27, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥36.67 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 June 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥63.34 (vs JP¥67.11 in 3Q 2025) Third quarter 2026 results: EPS: JP¥63.34 (down from JP¥67.11 in 3Q 2025). Revenue: JP¥27.3b (up 8.5% from 3Q 2025). Net income: JP¥2.25b (down 6.4% from 3Q 2025). Profit margin: 8.2% (down from 9.5% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Price Target Changed • Jan 29
Price target increased by 29% to JP¥4,400 Up from JP¥3,400, the current price target is provided by 1 analyst. New target price is 6.4% above last closing price of JP¥4,135. Stock is up 32% over the past year. The company is forecast to post earnings per share of JP¥239 for next year compared to JP¥158 last year. Major Estimate Revision • Jan 06
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥222 to JP¥251. Revenue forecast steady at JP¥107.2b. Net income forecast to grow 14% next year vs 11% growth forecast for Electrical industry in Japan. Consensus price target of JP¥3,400 unchanged from last update. Share price was steady at JP¥4,260 over the past week. Announcement • Dec 26
Sanyo Denki Co., Ltd. to Report Q3, 2026 Results on Jan 29, 2026 Sanyo Denki Co., Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Dec 16
First half dividend of JP¥36.67 announced Shareholders will receive a dividend of JP¥36.67. Ex-date: 30th March 2026 Payment date: 22nd June 2026 Dividend yield will be 3.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 09
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 5.4% 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 (5.4% average weekly change). Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥69.26 (vs JP¥6.71 in 2Q 2025) Second quarter 2026 results: EPS: JP¥69.26 (up from JP¥6.71 in 2Q 2025). Revenue: JP¥26.6b (up 14% from 2Q 2025). Net income: JP¥2.46b (up JP¥2.22b from 2Q 2025). Profit margin: 9.2% (up from 1.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Price Target Changed • Sep 30
Price target decreased by 67% to JP¥1,133 Down from JP¥3,400, the current price target is provided by 1 analyst. New target price is 68% below last closing price of JP¥3,525. Stock is up 10% over the past year. The company is forecast to post earnings per share of JP¥223 for next year compared to JP¥158 last year. Announcement • Sep 26
Sanyo Denki Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Sanyo Denki Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 09 December 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥88.63 (vs JP¥114 in 1Q 2025) First quarter 2026 results: EPS: JP¥88.63 (down from JP¥114 in 1Q 2025). Revenue: JP¥24.2b (up 4.3% from 1Q 2025). Net income: JP¥1.05b (down 23% from 1Q 2025). Profit margin: 4.4% (down from 5.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥100.00 announced Shareholders will receive a dividend of JP¥100.00. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 2.0%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
Sanyo Denki Co., Ltd. to Report Q1, 2026 Results on Jul 30, 2025 Sanyo Denki Co., Ltd. announced that they will report Q1, 2026 results on Jul 30, 2025 Reported Earnings • Jun 24
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥473 (down from JP¥868 in FY 2024). Revenue: JP¥97.8b (down 13% from FY 2024). Net income: JP¥5.64b (down 46% from FY 2024). Profit margin: 5.8% (down from 9.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.4%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Major Estimate Revision • May 27
Consensus EPS estimates increase by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥102.0b to JP¥109.0b. EPS estimate increased from JP¥545 to JP¥727 per share. Net income forecast to grow 53% next year vs 3.6% growth forecast for Electrical industry in Japan. Consensus price target of JP¥9,700 unchanged from last update. Share price rose 4.9% to JP¥10,370 over the past week. Announcement • May 08
Sanyo Denki Co., Ltd. (TSE:6516) announces an Equity Buyback for 110,000 shares, representing 0.92% for ¥1,060.4 million. Sanyo Denki Co., Ltd. (TSE:6516) announces a share repurchase program. Under the program, the company will repurchase 110,000 shares, representing 0.92% of the outstanding shares, at ¥9,640 per share for ¥1,060.4 million. The purpose of the program is to execute flexible capital polices in response to changes in the business environment. As of March 31, 2025, the company had 11,931,612 shares (excluding treasury stock) outstanding and 1,040,575 shares in treasury. Buy Or Sell Opportunity • Apr 26
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥9,670. The fair value is estimated to be JP¥7,845, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Major Estimate Revision • Apr 16
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥96.5b to JP¥98.0b. EPS estimate increased from JP¥390 to JP¥444 per share. Net income forecast to shrink 6.9% next year vs 5.1% growth forecast for Electrical industry in Japan . Consensus price target up from JP¥9,300 to JP¥9,700. Share price rose 13% to JP¥8,670 over the past week. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥7,450, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Electrical industry in Japan. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥12,728 per share. Announcement • Mar 26
Sanyo Denki Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2025 Sanyo Denki Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 20 June 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.9%). Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: JP¥201 (vs JP¥167 in 3Q 2024) Third quarter 2025 results: EPS: JP¥201 (up from JP¥167 in 3Q 2024). Revenue: JP¥25.2b (down 2.8% from 3Q 2024). Net income: JP¥2.40b (up 19% from 3Q 2024). Profit margin: 9.5% (up from 7.8% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Major Estimate Revision • Jan 21
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥97.0b to JP¥96.0b. EPS estimate also fell from JP¥453 per share to JP¥398 per share. Net income forecast to shrink 12% next year vs 2.1% growth forecast for Electrical industry in Japan . Consensus price target down from JP¥9,800 to JP¥9,300. Share price was steady at JP¥8,430 over the past week. Announcement • Jan 03
Sanyo Denki Co., Ltd. to Report Q3, 2025 Results on Jan 30, 2025 Sanyo Denki Co., Ltd. announced that they will report Q3, 2025 results on Jan 30, 2025 Major Estimate Revision • Dec 11
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥100.7b to JP¥97.0b. EPS estimate also fell from JP¥612 per share to JP¥453 per share. Net income forecast to grow 4.3% next year vs 3.3% growth forecast for Electrical industry in Japan. Consensus price target of JP¥9,800 unchanged from last update. Share price rose 3.2% to JP¥8,600 over the past week. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥20.12 (vs JP¥194 in 2Q 2024) Second quarter 2025 results: EPS: JP¥20.12 (down from JP¥194 in 2Q 2024). Revenue: JP¥23.4b (down 21% from 2Q 2024). Net income: JP¥240.0m (down 90% from 2Q 2024). Profit margin: 1.0% (down from 7.9% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical 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 11% per year, which means it is well ahead of earnings. Announcement • Sep 26
Sanyo Denki Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Sanyo Denki Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥8,740, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 30% over the past three years. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥114 (vs JP¥285 in 1Q 2024) First quarter 2025 results: EPS: JP¥114 (down from JP¥285 in 1Q 2024). Revenue: JP¥23.2b (down 25% from 1Q 2024). Net income: JP¥1.36b (down 61% from 1Q 2024). Profit margin: 5.9% (down from 11% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 27
Sanyo Denki Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Sanyo Denki Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • Jun 23
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥868 (down from JP¥943 in FY 2023). Revenue: JP¥112.9b (down 6.5% from FY 2023). Net income: JP¥10.5b (down 8.2% from FY 2023). Profit margin: 9.3% (down from 9.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to stay flat during the next 2 years compared to a 4.6% growth forecast for the Electrical 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 fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Sanyo Denki Co., Ltd., Annual General Meeting, Jun 19, 2024 Sanyo Denki Co., Ltd., Annual General Meeting, Jun 19, 2024. Reported Earnings • Apr 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥868 (down from JP¥943 in FY 2023). Revenue: JP¥112.9b (down 6.5% from FY 2023). Net income: JP¥10.5b (down 8.2% from FY 2023). Profit margin: 9.3% (down from 9.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to stay flat during the next 2 years compared to a 4.2% growth forecast for the Electrical 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 fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Sanyo Denki Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2024 Sanyo Denki Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥118.9b to JP¥111.0b. EPS estimate also fell from JP¥842 per share to JP¥752 per share. Net income forecast to shrink 21% next year vs 2.0% growth forecast for Electrical industry in Japan . Consensus price target down from JP¥8,000 to JP¥6,000. Share price fell 5.8% to JP¥5,820 over the past week. Announcement • Feb 06
Sanyo Denki Co., Ltd. (TSE:6516) announces an Equity Buyback for 192,000 shares, representing 1.58% for ¥1,142.4 million. Sanyo Denki Co., Ltd. (TSE:6516) announces a share repurchase program. Under the program, the company will repurchase 192,000 shares, representing 1.58% of the outstanding shares, at ¥5,950 per share for ¥1,142.40 million. The purpose of the program is to carry out flexible capital policy in light of changes in the business environment. As of December 31, 2023, the company had 12,117,814 shares (excluding treasury stock) outstanding and 854,373 shares in treasury. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥167 (vs JP¥162 in 3Q 2023) Third quarter 2024 results: EPS: JP¥167 (up from JP¥162 in 3Q 2023). Revenue: JP¥25.9b (down 15% from 3Q 2023). Net income: JP¥2.02b (up 3.1% from 3Q 2023). Profit margin: 7.8% (up from 6.4% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.3% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 27
Sanyo Denki Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Sanyo Denki Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥194 (down from JP¥243 in 2Q 2023). Revenue: JP¥29.6b (down 4.9% from 2Q 2023). Net income: JP¥2.35b (down 20% from 2Q 2023). Profit margin: 7.9% (down from 9.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be JP¥7,700, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.9% in 2 years. Earnings is forecast to decline by 0.7% in the next 2 years. Announcement • Sep 27
Sanyo Denki Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Sanyo Denki Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥70.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.9%). New Risk • Aug 02
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 • Aug 01
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥285 (up from JP¥273 in 1Q 2023). Revenue: JP¥31.1b (up 12% from 1Q 2023). Net income: JP¥3.45b (up 4.2% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Sanyo Denki Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Sanyo Denki Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • Jun 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥943 (up from JP¥745 in FY 2022). Revenue: JP¥120.8b (up 20% from FY 2022). Net income: JP¥11.4b (up 27% from FY 2022). Profit margin: 9.4% (up from 8.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥943 (up from JP¥745 in FY 2022). Revenue: JP¥120.8b (up 20% from FY 2022). Net income: JP¥11.4b (up 27% from FY 2022). Profit margin: 9.4% (up from 8.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 16 June 2023. Payout ratio is a comfortable 6.5% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.0%). Reported Earnings • Feb 01
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥162 (down from JP¥163 in 3Q 2022). Revenue: JP¥30.5b (up 23% from 3Q 2022). Net income: JP¥1.96b (flat on 3Q 2022). Profit margin: 6.4% (down from 8.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 28
Sanyo Denki Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Sanyo Denki Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Price Target Changed • Nov 16
Price target increased to JP¥11,000 Up from JP¥10,000, the current price target is provided by 1 analyst. New target price is 76% above last closing price of JP¥6,240. Stock is up 1.6% over the past year. The company is forecast to post earnings per share of JP¥966 for next year compared to JP¥745 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Shin Kurihara was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 08
Consensus EPS estimates increase by 18% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥113.7b to JP¥122.0b. EPS estimate increased from JP¥818 to JP¥966 per share. Net income forecast to grow 1.2% next year vs 3.3% growth forecast for Electrical industry in Japan. Consensus price target up from JP¥10,000 to JP¥11,000. Share price was steady at JP¥5,850 over the past week. Reported Earnings • Nov 02
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥243 (up from JP¥179 in 2Q 2022). Revenue: JP¥31.1b (up 24% from 2Q 2022). Net income: JP¥2.94b (up 36% from 2Q 2022). Profit margin: 9.5% (in line with 2Q 2022). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥5,750, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Electrical industry in Japan. Total returns to shareholders of 17% over the past three years. Announcement • Sep 28
Sanyo Denki Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Sanyo Denki Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 13 December 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 02
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥273 (up from JP¥158 in 1Q 2022). Revenue: JP¥27.7b (up 12% from 1Q 2022). Net income: JP¥3.31b (up 73% from 1Q 2022). Profit margin: 12% (up from 7.7% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 60%. Over the next year, revenue is forecast to grow 8.0%, compared to a 9.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Sanyo Denki Co., Ltd. to Report Q1, 2023 Results on Aug 01, 2022 Sanyo Denki Co., Ltd. announced that they will report Q1, 2023 results on Aug 01, 2022 Reported Earnings • Jun 20
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥745 (up from JP¥326 in FY 2021). Revenue: JP¥101.1b (up 31% from FY 2021). Net income: JP¥9.02b (up 129% from FY 2021). Profit margin: 8.9% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 6.8%, compared to a 8.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 10
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥702 to JP¥777. Revenue forecast unchanged at JP¥108.0b. Net income forecast to grow 4.3% next year vs 13% growth forecast for Electrical industry in Japan. Consensus price target of JP¥9,500 unchanged from last update. Share price was steady at JP¥5,450 over the past week. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥745 (up from JP¥326 in FY 2021). Revenue: JP¥101.1b (up 31% from FY 2021). Net income: JP¥9.02b (up 129% from FY 2021). Profit margin: 8.9% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 6.6%, compared to a 6.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 Shin Kurihara was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Sanyo Denki Co., Ltd. to Report Fiscal Year 2022 Results on Apr 27, 2022 Sanyo Denki Co., Ltd. announced that they will report fiscal year 2022 results on Apr 27, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥163 (up from JP¥92.37 in 3Q 2021). Revenue: JP¥24.7b (up 20% from 3Q 2021). Net income: JP¥1.97b (up 76% from 3Q 2021). Profit margin: 8.0% (up from 5.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 8.4%, compared to a 6.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Dec 23
Price target decreased to JP¥9,500 Down from JP¥11,100, the current price target is an average from 2 analysts. New target price is 62% above last closing price of JP¥5,850. Stock is up 11% over the past year. The company is forecast to post earnings per share of JP¥624 for next year compared to JP¥326 last year. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥179 (vs JP¥87.00 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥25.1b (up 26% from 2Q 2021). Net income: JP¥2.16b (up 105% from 2Q 2021). Profit margin: 8.6% (up from 5.3% in 2Q 2021). The increase in margin was driven by higher revenue. 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 13% per year, which means it is well ahead of earnings.