Announcement • Jun 19
Nitta Corporation to Report Q1, 2027 Results on Aug 07, 2026 Nitta Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥5,610, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Machinery industry in Japan. Total returns to shareholders of 106% over the past three years. Buy Or Sell Opportunity • May 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to JP¥5,610. The fair value is estimated to be JP¥4,627, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.0%. Revenue is forecast to grow by 5.2% in 2 years. Earnings are forecast to grow by 6.9% in the next 2 years. Reported Earnings • May 09
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥490 (up from JP¥437 in FY 2025). Revenue: JP¥91.8b (up 1.7% from FY 2025). Net income: JP¥13.5b (up 12% from FY 2025). Profit margin: 15% (up from 13% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Nitta Corporation, Annual General Meeting, Jun 25, 2026 Nitta Corporation, Annual General Meeting, Jun 25, 2026. Announcement • Mar 26
Nitta Corporation to Report Fiscal Year 2026 Results on May 08, 2026 Nitta Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 08, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥73.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥135 (vs JP¥130 in 3Q 2025) Third quarter 2026 results: EPS: JP¥135 (up from JP¥130 in 3Q 2025). Revenue: JP¥23.3b (up 3.5% from 3Q 2025). Net income: JP¥3.71b (up 3.5% from 3Q 2025). Profit margin: 16% (in line with 3Q 2025). 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 13% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 06
First half dividend of JP¥73.00 announced Shareholders will receive a dividend of JP¥73.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Nitta Corporation to Report Q3, 2026 Results on Feb 06, 2026 Nitta Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥98.74 (vs JP¥101 in 2Q 2025) Second quarter 2026 results: EPS: JP¥98.74 (down from JP¥101 in 2Q 2025). Revenue: JP¥22.5b (down 1.0% from 2Q 2025). Net income: JP¥2.74b (down 2.8% from 2Q 2025). Profit margin: 12% (in line with 2Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery 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 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥72.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Announcement • Sep 14
Nitta Corporation to Report Q2, 2026 Results on Nov 07, 2025 Nitta Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Announcement • Sep 05
Nitta Corporation (TSE:5186) announces an Equity Buyback for 440,000 shares, representing 1.58% for ILS 1,606 million. Nitta Corporation (TSE:5186) announces a share repurchase program. Under the program, the company will repurchase up to 440,000 shares, representing 1.58% of its share capital, for ¥90,002 million. The shares will be repurchased at ¥3,650 per share. The company will repurchase 400,000 shares from IBP Co., Ltd. The company will repurchase its shares in order to implement a flexible and agile capital policy. that responds to changes in the business environment. If the offer is oversubscribed the company may repurchase up to additional 100 shares. The company plans to fund the offer from its own funds. The offer will be valid till October 7, 2025. As of March 31, 2025, the company had 27,807,711 shares outstanding (excluding treasury shares) and 1,464,792 shares in treasury. Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥99.09 (vs JP¥105 in 1Q 2025) First quarter 2026 results: EPS: JP¥99.09 (down from JP¥105 in 1Q 2025). Revenue: JP¥21.6b (down 2.5% from 1Q 2025). Net income: JP¥2.74b (down 5.9% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥72.00 announced Shareholders will receive a dividend of JP¥72.00. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but not covered by cash flows (dividend approximately 16x free cash flows). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥437 (up from JP¥354 in FY 2024). Revenue: JP¥90.3b (up 1.9% from FY 2024). Net income: JP¥12.1b (up 23% from FY 2024). Profit margin: 13% (up from 11% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 07
Nitta Corporation to Report Q1, 2026 Results on Aug 01, 2025 Nitta Corporation announced that they will report Q1, 2026 results on Aug 01, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥437 (up from JP¥354 in FY 2024). Revenue: JP¥90.3b (up 1.9% from FY 2024). Net income: JP¥12.1b (up 23% from FY 2024). Profit margin: 13% (up from 11% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Announcement • May 09
Nitta Corporation, Annual General Meeting, Jun 26, 2025 Nitta Corporation, Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥74.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Announcement • Mar 06
Nitta Corporation to Report Fiscal Year 2025 Results on May 09, 2025 Nitta Corporation announced that they will report fiscal year 2025 results on May 09, 2025 Major Estimate Revision • Mar 06
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥371 to JP¥428. Revenue forecast steady at JP¥90.0b. Net income forecast to grow 7.0% next year vs 8.4% growth forecast for Machinery industry in Japan. Consensus price target up from JP¥4,100 to JP¥4,370. Share price rose 5.1% to JP¥3,740 over the past week. New Risk • Feb 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% 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 0.8% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥130 (vs JP¥93.82 in 3Q 2024) Third quarter 2025 results: EPS: JP¥130 (up from JP¥93.82 in 3Q 2024). Revenue: JP¥22.5b (down 1.6% from 3Q 2024). Net income: JP¥3.59b (up 37% from 3Q 2024). Profit margin: 16% (up from 11% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 06
First half dividend of JP¥66.00 announced Shareholders will receive a dividend of JP¥66.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (35% 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 increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 4.9% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 03
Nitta Corporation to Report Q3, 2025 Results on Feb 07, 2025 Nitta Corporation announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 04
Second quarter 2025 earnings released: EPS: JP¥101 (vs JP¥90.23 in 2Q 2024) Second quarter 2025 results: EPS: JP¥101 (up from JP¥90.23 in 2Q 2024). Revenue: JP¥22.7b (up 3.1% from 2Q 2024). Net income: JP¥2.82b (up 12% from 2Q 2024). Profit margin: 12% (up from 11% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥66.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Announcement • Sep 07
Nitta Corporation (TSE:5186) announces an Equity Buyback for 300,000 shares, representing 1.07% for ¥1,099.5 million. Nitta Corporation (TSE:5186) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 1.07% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,099.50 million. The shares will be repurchased at a price of ¥3,665 per share. The purpose of the program is to enhance shareholder return by improving capital efficiency. As of June 30, 2024, the company has 27,910,770 issued shares (excluding treasury stock) and 2,361,733 treasury shares. Announcement • Sep 06
Nitta Corporation to Report Q2, 2025 Results on Nov 01, 2024 Nitta Corporation announced that they will report Q2, 2025 results on Nov 01, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥108 (vs JP¥89.96 in 1Q 2024) First quarter 2025 results: EPS: JP¥108 (up from JP¥89.96 in 1Q 2024). Revenue: JP¥21.6b (flat on 1Q 2024). Net income: JP¥3.02b (up 21% from 1Q 2024). Profit margin: 14% (up from 12% in 1Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,320, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 35% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥66.00 announced Shareholders will receive a dividend of JP¥66.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 01
Now 19% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to JP¥4,060. The fair value is estimated to be JP¥3,419, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 6.1% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Buy Or Sell Opportunity • Jun 21
Now 21% overvalued Over the last 90 days, the stock has fallen 1.2% to JP¥4,040. The fair value is estimated to be JP¥3,352, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 6.1% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Buy Or Sell Opportunity • May 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.3% to JP¥3,950. The fair value is estimated to be JP¥3,268, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 6.1% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥354 (down from JP¥387 in FY 2023). Revenue: JP¥88.6b (flat on FY 2023). Net income: JP¥9.86b (down 9.2% from FY 2023). Profit margin: 11% (down from 12% in FY 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 2.6%. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 15% per year. Announcement • May 12
Nitta Corporation, Annual General Meeting, Jun 25, 2024 Nitta Corporation, Annual General Meeting, Jun 25, 2024. Price Target Changed • Apr 16
Price target increased by 16% to JP¥3,700 Up from JP¥3,190, the current price target is provided by 1 analyst. New target price is 6.1% below last closing price of JP¥3,940. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥363 for next year compared to JP¥387 last year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Announcement • Mar 02
Nitta Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Nitta Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥93.81 (vs JP¥107 in 3Q 2023) Third quarter 2024 results: EPS: JP¥93.81 (down from JP¥107 in 3Q 2023). Revenue: JP¥22.9b (up 1.9% from 3Q 2023). Net income: JP¥2.62b (down 13% from 3Q 2023). Profit margin: 11% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Announcement • Dec 08
Nitta Corporation to Report Q3, 2024 Results on Feb 02, 2024 Nitta Corporation announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥90.23 (vs JP¥94.26 in 2Q 2023) Second quarter 2024 results: EPS: JP¥90.23 (down from JP¥94.26 in 2Q 2023). Revenue: JP¥22.0b (flat on 2Q 2023). Net income: JP¥2.51b (down 4.7% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery 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 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥55.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Announcement • Sep 03
Nitta Corporation to Report Q2, 2024 Results on Nov 02, 2023 Nitta Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 Reported Earnings • Aug 06
First quarter 2024 earnings released: EPS: JP¥89.96 (vs JP¥97.17 in 1Q 2023) First quarter 2024 results: EPS: JP¥89.96 (down from JP¥97.17 in 1Q 2023). Revenue: JP¥21.7b (up 3.3% from 1Q 2023). Net income: JP¥2.50b (down 8.4% from 1Q 2023). Profit margin: 12% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jun 03
Nitta Corporation to Report Q1, 2024 Results on Aug 04, 2023 Nitta Corporation announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥387 (up from JP¥370 in FY 2022). Revenue: JP¥88.0b (up 5.1% from FY 2022). Net income: JP¥10.9b (up 3.5% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥107 (vs JP¥83.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥107 (up from JP¥83.23 in 3Q 2022). Revenue: JP¥22.4b (up 7.6% from 3Q 2022). Net income: JP¥2.99b (up 27% from 3Q 2022). Profit margin: 13% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Japan. 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 5% per year, which means it is significantly lagging earnings. Announcement • Feb 03
Nitta Corporation Provides Consolidated Earnings Guidance for the Full Fiscal Year Ending March 31, 2023 Nitta Corporation provided consolidated earnings guidance for the full fiscal year ending March 31, 2023. For the full fiscal year ending March 31, 2023, the company expects net sales of JPY 86,000 million, operating income of JPY 5,300 million, ordinary income of JPY 12,400 million, net income attributable to owners of parent of JPY 10,000 million and net income per share of JPY 353.18. Announcement • Jan 24
Gates Corporation and Gates Canada, Inc. Files Petition for Arbitration Against Nitta Corporation Nitta Corporation is subject to a petition for arbitration by Gates Corporation and Gates Canada Inc. (petitioners), as outlined below. Date of petition for arbitration: January 17, 2023. Details and background of petition for arbitration: In 1971, Nitta Corporation and Gates Corporation, one of the petitioners, established Unitta Company (now Gates Unitta Asia Company) as a joint venture in Japan. Since then, the two companies have established and expanded joint ventures in China, Singapore, India, Thailand, and South Korea. These joint ventures manufacture and sell products such as toothed belts and pulleys. In this petition, the petitioners claim that Nitta is in violation of shareholders' agreements and a technology cooperation agreement concluded between Nitta and the petitioners and demand remedies, including payment of 458 million U.S. dollars in damages and cancellation of the joint venture agreements. The place of arbitration for these arbitration proceedings will be Denver, Colorado, U.S.A., under the arbitration rules of the American Arbitration Association. Summary of petitioners for arbitration: Name: Gates Corporation Location: 1144 15th Street, Denver, Colorado and Gates Canada Inc. Location: 225 Henry St. Building 8, Brantford, Ontario, N3S 7R4, Canada. Future outlook: Nitta Corporation categorically rejects the claims of the petitioners, which it believe are entirely inconsistent with its understanding of the circumstances. Accordingly, the company plan to provide an appropriate fact-based response during the course of the upcoming arbitration proceedings. In addition, the company consider the growth and succession of each of the joint venture companies to be matters of the utmost importance and plan to continue its unchanged cooperation in the business operations of each company. Announcement • Dec 08
Nitta Corporation to Report Q3, 2023 Results on Feb 03, 2023 Nitta Corporation announced that they will report Q3, 2023 results on Feb 03, 2023 Price Target Changed • Nov 16
Price target increased to JP¥4,200 Up from JP¥2,060, the current price target is provided by 1 analyst. New target price is 42% above last closing price of JP¥2,949. Stock is up 12% over the past year. The company is forecast to post earnings per share of JP¥414 for next year compared to JP¥370 last year. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Takehisa Ikeda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥94.25 (vs JP¥123 in 2Q 2022) Second quarter 2023 results: EPS: JP¥94.25 (down from JP¥123 in 2Q 2022). Revenue: JP¥22.0b (up 6.0% from 2Q 2022). Net income: JP¥2.64b (down 24% from 2Q 2022). Profit margin: 12% (down from 17% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.4%). Announcement • Aug 28
Nitta Corporation to Report Q2, 2023 Results on Nov 04, 2022 Nitta Corporation announced that they will report Q2, 2023 results on Nov 04, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥97.17 (vs JP¥92.84 in 1Q 2022) First quarter 2023 results: EPS: JP¥97.17 (up from JP¥92.84 in 1Q 2022). Revenue: JP¥21.0b (up 2.3% from 1Q 2022). Net income: JP¥2.73b (up 3.8% from 1Q 2022). Profit margin: 13% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 7.8%, compared to a 9.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
Nitta Corporation to Report Q1, 2023 Results on Aug 05, 2022 Nitta Corporation announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥370 (vs JP¥165 in FY 2021) Full year 2022 results: EPS: JP¥370 (up from JP¥165 in FY 2021). Revenue: JP¥83.7b (up 6.4% from FY 2021). Net income: JP¥10.5b (up 122% from FY 2021). Profit margin: 13% (up from 6.0% in FY 2021). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Takehisa Ikeda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 08
Nitta Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Nitta Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥83.23 (up from JP¥63.23 in 3Q 2021). Revenue: JP¥20.8b (up 4.9% from 3Q 2021). Net income: JP¥2.36b (up 30% from 3Q 2021). Profit margin: 11% (up from 9.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.1%, compared to a 8.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year. Announcement • Feb 04
Nitta Corporation Provides Earnings Guidance for the Fiscal Year Ending March 31 2022 Nitta Corporation provided earnings guidance for the fiscal year ending March 31 2022. For the period, the company expected net sales of JPY 80,000 million, Operating income of JPY 5,000 million, Net income attributable to owners of parent of JPY 9,700 million, net income per share of JPY 338.04. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥123 (vs JP¥21.92 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥20.8b (up 14% from 2Q 2021). Net income: JP¥3.48b (up 454% from 2Q 2021). Profit margin: 17% (up from 3.5% in 2Q 2021). The increase in margin was primarily driven by higher revenue. 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 13% per year. 
