Announcement • Jun 28
Nippon Sharyo, Ltd. to Report Q1, 2027 Results on Jul 28, 2026 Nippon Sharyo, Ltd. announced that they will report Q1, 2027 results on Jul 28, 2026 Reported Earnings • Apr 25
Full year 2026 earnings released: EPS: JP¥808 (vs JP¥445 in FY 2025) Full year 2026 results: EPS: JP¥808 (up from JP¥445 in FY 2025). Revenue: JP¥100.0b (up 3.8% from FY 2025). Net income: JP¥11.7b (up 82% from FY 2025). Profit margin: 12% (up from 6.7% in FY 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
Nippon Sharyo, Ltd., Annual General Meeting, Jun 26, 2026 Nippon Sharyo, Ltd., Annual General Meeting, Jun 26, 2026. Announcement • Apr 21
Nippon Sharyo, Ltd. to Report Fiscal Year 2026 Results on Apr 24, 2026 Nippon Sharyo, Ltd. announced that they will report fiscal year 2026 results on Apr 24, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 5.2% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.6%). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥199 (vs JP¥75.67 in 3Q 2025) Third quarter 2026 results: EPS: JP¥199 (up from JP¥75.67 in 3Q 2025). Revenue: JP¥25.3b (flat on 3Q 2025). Net income: JP¥2.87b (up 163% from 3Q 2025). Profit margin: 11% (up from 4.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Dec 09
Nippon Sharyo, Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Nippon Sharyo, Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Dec 02
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (6% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 5.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥307 (vs JP¥165 in 2Q 2025) Second quarter 2026 results: EPS: JP¥307 (up from JP¥165 in 2Q 2025). Revenue: JP¥23.3b (down 3.4% from 2Q 2025). Net income: JP¥4.43b (up 86% from 2Q 2025). Profit margin: 19% (up from 9.9% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings have declined by 3.3% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.2% operating cash flow to total debt). Earnings have declined by 3.3% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). New Risk • Oct 01
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 5.0% 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 Debt is not well covered by operating cash flow (4.2% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (5.0% average weekly change). Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 7.0% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.0%). Announcement • Sep 01
Nippon Sharyo, Ltd. to Report Q2, 2026 Results on Oct 28, 2025 Nippon Sharyo, Ltd. announced that they will report Q2, 2026 results on Oct 28, 2025 New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings have declined by 8.3% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.2% operating cash flow to total debt). Earnings have declined by 8.3% per year over the past 5 years. Declared Dividend • Jul 09
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (7% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 92% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.1% EPS decline seen over the last 5 years. Board Change • Jul 03
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 3 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Outside Director Atsushi Niimi is the most experienced director on the board, commencing their role in 2016. Independent Outside Director Michiko Kato was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jun 07
Nippon Sharyo, Ltd. to Report Q1, 2026 Results on Jul 28, 2025 Nippon Sharyo, Ltd. announced that they will report Q1, 2026 results on Jul 28, 2025 New Risk • May 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.2% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: JP¥445 (vs JP¥373 in FY 2024) Full year 2025 results: EPS: JP¥445 (up from JP¥373 in FY 2024). Revenue: JP¥96.3b (up 9.4% from FY 2024). Net income: JP¥6.42b (up 19% from FY 2024). Profit margin: 6.7% (up from 6.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Nippon Sharyo, Ltd., Annual General Meeting, Jun 27, 2025 Nippon Sharyo, Ltd., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 7.5% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.1%). Announcement • Mar 01
Nippon Sharyo, Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2025 Nippon Sharyo, Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥75.67 (vs JP¥104 in 3Q 2024) Third quarter 2025 results: EPS: JP¥75.67 (down from JP¥104 in 3Q 2024). Revenue: JP¥25.3b (up 48% from 3Q 2024). Net income: JP¥1.09b (down 27% from 3Q 2024). Profit margin: 4.3% (down from 8.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Announcement • Dec 06
Nippon Sharyo, Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Nippon Sharyo, Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Dec 03
First half dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (3% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 96% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.6% EPS decline seen over the last 5 years. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: JP¥165 (vs JP¥42.48 in 2Q 2024) Second quarter 2025 results: EPS: JP¥165 (up from JP¥42.48 in 2Q 2024). Revenue: JP¥24.1b (up 16% from 2Q 2024). Net income: JP¥2.39b (up 289% from 2Q 2024). Profit margin: 9.9% (up from 3.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Sep 27
Nippon Sharyo, Ltd. to Report Q2, 2025 Results on Oct 28, 2024 Nippon Sharyo, Ltd. announced that they will report Q2, 2025 results on Oct 28, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 8.2% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.9%). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 17% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to JP¥1,786, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 11x in the Machinery industry in Japan. Total loss to shareholders of 12% over the past three years. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥37.01 (vs JP¥104 in 1Q 2024) First quarter 2025 results: EPS: JP¥37.01 (down from JP¥104 in 1Q 2024). Revenue: JP¥21.4b (up 1.8% from 1Q 2024). Net income: JP¥534.0m (down 64% from 1Q 2024). Profit margin: 2.5% (down from 7.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 1.1%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (6% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 94% to shift the payout ratio to a potentially unsustainable range, which is more than the 10% EPS decline seen over the last 5 years. Announcement • Jun 14
Nippon Sharyo, Ltd. to Report Q1, 2025 Results on Jul 29, 2024 Nippon Sharyo, Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Reported Earnings • May 01
Full year 2024 earnings released: EPS: JP¥373 (vs JP¥216 in FY 2023) Full year 2024 results: EPS: JP¥373 (up from JP¥216 in FY 2023). Revenue: JP¥88.1b (down 10% from FY 2023). Net income: JP¥5.38b (up 73% from FY 2023). Profit margin: 6.1% (up from 3.2% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 01
Now 20% undervalued Over the last 90 days, the stock has risen 3.9% to JP¥2,307. The fair value is estimated to be JP¥2,890, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 31%. Announcement • Apr 29
Nippon Sharyo, Ltd., Annual General Meeting, Jun 27, 2024 Nippon Sharyo, Ltd., Annual General Meeting, Jun 27, 2024. Announcement • Mar 30
Nippon Sharyo, Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2024 Nippon Sharyo, Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 5.7% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.9%). Buy Or Sell Opportunity • Feb 14
Now 21% undervalued Over the last 90 days, the stock has risen 8.6% to JP¥2,242. The fair value is estimated to be JP¥2,822, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 31%. Announcement • Jan 31
Nippon Sharyo, Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Nippon Sharyo, Ltd. provided dividend guidance for the fiscal year ending March 31, 2024. For the year, the company expects to pay dividend of JPY 10.00 per share against JPY 10.00 per share paid a year ago. Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: JP¥104 (vs JP¥36.10 in 3Q 2023) Third quarter 2024 results: EPS: JP¥104 (up from JP¥36.10 in 3Q 2023). Revenue: JP¥17.2b (down 26% from 3Q 2023). Net income: JP¥1.50b (up 188% from 3Q 2023). Profit margin: 8.7% (up from 2.3% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Nov 29
Nippon Sharyo, Ltd. to Report Q3, 2024 Results on Jan 29, 2024 Nippon Sharyo, Ltd. announced that they will report Q3, 2024 results on Jan 29, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: JP¥42.48 (vs JP¥12.40 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥42.48 (up from JP¥12.40 loss in 2Q 2023). Revenue: JP¥20.8b (down 3.2% from 2Q 2023). Net income: JP¥613.0m (up JP¥792.0m from 2Q 2023). Profit margin: 3.0% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 8.7% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.1%). Announcement • Aug 30
Nippon Sharyo, Ltd. to Report Q2, 2024 Results on Oct 27, 2023 Nippon Sharyo, Ltd. announced that they will report Q2, 2024 results on Oct 27, 2023 Announcement • Aug 01
Nippon Sharyo, Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2024 Nippon Sharyo, Ltd. provided consolidated earnings guidance for the year ending March 31, 2024. For the period, the company expects Net sales of JPY 88,000 Million. Operating profit of JPY 4,100 Million. Profit attributable to owners of parent of JPY 3,200 Million. Earnings per share of JPY 221.74. Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥104 (vs JP¥90.08 in 1Q 2023) First quarter 2024 results: EPS: JP¥104 (up from JP¥90.08 in 1Q 2023). Revenue: JP¥21.0b (down 8.4% from 1Q 2023). Net income: JP¥1.50b (up 16% from 1Q 2023). Profit margin: 7.1% (up from 5.7% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jun 26
Nippon Sharyo, Ltd. to Report Q1, 2024 Results on Jul 27, 2023 Nippon Sharyo, Ltd. announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: JP¥216 (vs JP¥362 in FY 2022) Full year 2023 results: EPS: JP¥216 (down from JP¥362 in FY 2022). Revenue: JP¥98.0b (up 4.2% from FY 2022). Net income: JP¥3.12b (down 40% from FY 2022). Profit margin: 3.2% (down from 5.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 8.8% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.4%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: JP¥36.10 (vs JP¥78.99 in 3Q 2022) Third quarter 2023 results: EPS: JP¥36.10 (down from JP¥78.99 in 3Q 2022). Revenue: JP¥23.0b (down 6.6% from 3Q 2022). Net income: JP¥521.0m (down 54% from 3Q 2022). Profit margin: 2.3% (down from 4.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Dec 07
Nippon Sharyo, Ltd. to Report Q3, 2023 Results on Jan 27, 2023 Nippon Sharyo, Ltd. announced that they will report Q3, 2023 results on Jan 27, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Outside Director Atsushi Niimi 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 • Oct 30
Second quarter 2023 earnings released: JP¥12.40 loss per share (vs JP¥93.27 profit in 2Q 2022) Second quarter 2023 results: JP¥12.40 loss per share (down from JP¥93.27 profit in 2Q 2022). Revenue: JP¥21.4b (down 8.9% from 2Q 2022). Net loss: JP¥179.0m (down 113% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 5.3% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.4%). Reported Earnings • Jul 27
First quarter 2023 earnings released: EPS: JP¥90.08 (vs JP¥76.15 in 1Q 2022) First quarter 2023 results: EPS: JP¥90.08 (up from JP¥76.15 in 1Q 2022). Revenue: JP¥23.0b (up 21% from 1Q 2022). Net income: JP¥1.30b (up 18% from 1Q 2022). Profit margin: 5.7% (down from 5.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Outside Director Atsushi Niimi 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 3.7% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.0%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥78.98 (down from JP¥86.26 in 3Q 2021). Revenue: JP¥24.7b (down 5.2% from 3Q 2021). Net income: JP¥1.14b (down 8.4% from 3Q 2021). Profit margin: 4.6% (down from 4.8% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS JP¥93.26 (vs JP¥80.09 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¥23.5b (up 16% from 2Q 2021). Net income: JP¥1.35b (up 16% from 2Q 2021). Profit margin: 5.7% (in line with 2Q 2021). 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 11% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jul 30
First quarter 2022 earnings released: EPS JP¥76.15 (vs JP¥94.44 in 1Q 2021) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2022 results: Revenue: JP¥19.0b (down 24% from 1Q 2021). Net income: JP¥1.10b (down 19% from 1Q 2021). Profit margin: 5.8% (up from 5.5% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
Full year 2021 earnings released: EPS JP¥549 (vs JP¥547 in FY 2020) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2021 results: Revenue: JP¥99.4b (up 5.1% from FY 2020). Net income: JP¥7.93b (flat on FY 2020). Profit margin: 8.0% (down from 8.3% in FY 2020). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: JP¥2,615 The company is up 3.0% from its price of JP¥2,543 on 12 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 14% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥86.26 (vs JP¥39.22 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥26.0b (up 21% from 3Q 2020). Net income: JP¥1.25b (up 120% from 3Q 2020). Profit margin: 4.8% (up from 2.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 08
New 90-day low: JP¥2,360 The company is down 12% from its price of JP¥2,671 on 09 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 15% over the same period.