Announcement • May 30
WELLNEO SUGAR Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026 WELLNEO SUGAR Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026 Reported Earnings • May 18
Full year 2026 earnings released: EPS: JP¥198 (vs JP¥170 in FY 2025) Full year 2026 results: EPS: JP¥198 (up from JP¥170 in FY 2025). Revenue: JP¥112.9b (up 16% from FY 2025). Net income: JP¥6.47b (up 16% from FY 2025). Profit margin: 5.7% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 14
WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 25, 2026 WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
WELLNEO SUGAR Co., Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 WELLNEO SUGAR Co., Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥72.87 (vs JP¥59.14 in 3Q 2025) Third quarter 2026 results: EPS: JP¥72.87 (up from JP¥59.14 in 3Q 2025). Revenue: JP¥29.7b (up 12% from 3Q 2025). Net income: JP¥2.39b (up 23% from 3Q 2025). Profit margin: 8.0% (up from 7.3% in 3Q 2025). The increase in margin was driven by higher revenue. 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. Announcement • Dec 03
WELLNEO SUGAR Co., Ltd. to Report Q3, 2026 Results on Feb 09, 2026 WELLNEO SUGAR Co., Ltd. announced that they will report Q3, 2026 results at 9:00 AM, Tokyo Standard Time on Feb 09, 2026 Declared Dividend • Dec 02
First half dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥56.94 (vs JP¥56.16 in 2Q 2025) Second quarter 2026 results: EPS: JP¥56.94 (up from JP¥56.16 in 2Q 2025). Revenue: JP¥27.6b (up 16% from 2Q 2025). Net income: JP¥1.87b (up 1.4% from 2Q 2025). Profit margin: 6.8% (down from 7.7% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 27
WELLNEO SUGAR Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 WELLNEO SUGAR Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). Announcement • Sep 17
WELLNEO SUGAR Co., Ltd. (TSE:2117) announces an Equity Buyback for 9,000 shares, representing 0.03% for ¥28 million. WELLNEO SUGAR Co., Ltd. (TSE:2117) announces a share repurchase program. Under the program, the company will repurchase up to 9,000 shares, representing 0.03% of its issued share capital, for ¥28 million. The purpose of the program to enhance corporate value over the mid- to long-term, and resolved to conduct the disposal of treasury shares through third-party allotment. The program will be valid till October 17, 2025. As of August 31, 2025, the company has 32,799,890 issued shares (excluding treasury stock) and 205 treasury shares. Reported Earnings • Aug 06
First quarter 2026 earnings released: EPS: JP¥52.37 (vs JP¥49.50 in 1Q 2025) First quarter 2026 results: EPS: JP¥52.37 (up from JP¥49.50 in 1Q 2025). Revenue: JP¥30.2b (up 24% from 1Q 2025). Net income: JP¥1.71b (up 5.3% from 1Q 2025). Profit margin: 5.7% (down from 6.6% in 1Q 2025). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
WELLNEO SUGAR Co., Ltd. (TSE:2117) announces an Equity Buyback for 2,700 shares, representing 0.008232% for ¥7.7 million. WELLNEO SUGAR Co., Ltd. (TSE:2117) announces a share repurchase program. Under the program, the company will repurchase up to 2,700 shares, representing 0.008% of its issued share capital, for ¥7.70 million. The purpose of the program is to secure treasury shares to be delivered to the Company’s directors under the performance-linked post-delivery-type restricted share compensation plan. The program will be valid till August 13, 2025. As of March 31, 2025, the company has 32,800,050 issued shares (excluding treasury stock) and 45 treasury shares. Declared Dividend • Jul 09
Final dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 31
WELLNEO SUGAR Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 WELLNEO SUGAR Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Announcement • May 14
WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 26, 2025 WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 26, 2025. Announcement • Mar 26
WELLNEO SUGAR Co., Ltd. (TSE:2117) completed the acquisition of Toyo Sugar Refining Co., Ltd. (TSE:2107) from Marubeni Corporation (TSE:8002) and others for ¥11.3 billion. WELLNEO SUGAR Co., Ltd. (TSE:2117) proposed to acquire Toyo Sugar Refining Co., Ltd. (TSE:2107) from Marubeni Corporation (TSE:8002) and others for ¥11.3 billion on February 6, 2025. A cash consideration valued at ¥2080 per share will be paid by WELLNEO SUGAR Co., Ltd. As part of consideration, ¥11.3 billion is paid towards common equity of Toyo Sugar Refining Co., Ltd.
The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board. The expected completion of the transaction is March 25, 2025.
EY Strategy and Consulting Co., Ltd. acted as financial advisor for WELLNEO SUGAR Co., Ltd. Anderson Mori & Tomotsune LPC acted as legal advisor for WELLNEO SUGAR Co., Ltd. City-Yuwa Partners acted as legal advisor for Toyo Sugar Refining Co., Ltd. SMBC Nikko Securities Inc. acted as financial advisor for Toyo Sugar Refining Co., Ltd.
WELLNEO SUGAR Co., Ltd. (TSE:2117) completed the acquisition of Toyo Sugar Refining Co., Ltd. (TSE:2107) from Marubeni Corporation (TSE:8002) and others on March 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 01
WELLNEO SUGAR Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 WELLNEO SUGAR Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: JP¥59.14 (vs JP¥53.41 in 3Q 2024) Third quarter 2025 results: EPS: JP¥59.14 (up from JP¥53.41 in 3Q 2024). Revenue: JP¥26.6b (up 6.4% from 3Q 2024). Net income: JP¥1.94b (up 11% from 3Q 2024). Profit margin: 7.3% (up from 7.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 03
First half dividend of JP¥46.00 announced Shareholders will receive a dividend of JP¥46.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
WELLNEO SUGAR Co., Ltd. to Report Q3, 2025 Results on Feb 10, 2025 WELLNEO SUGAR Co., Ltd. announced that they will report Q3, 2025 results on Feb 10, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥56.16 (vs JP¥36.96 in 2Q 2024) Second quarter 2025 results: EPS: JP¥56.16 (up from JP¥36.96 in 2Q 2024). Revenue: JP¥23.8b (up 6.1% from 2Q 2024). Net income: JP¥1.84b (up 52% from 2Q 2024). Profit margin: 7.7% (up from 5.4% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Oct 30
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. 3 highly experienced directors. Senior Managing Executive Officer & Director Akira Ohkubo is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 63% and the cash payout ratio is 97%. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Announcement • Aug 27
WELLNEO SUGAR Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 WELLNEO SUGAR Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥49.50 (vs JP¥57.26 in 1Q 2024) First quarter 2025 results: EPS: JP¥49.50 (down from JP¥57.26 in 1Q 2024). Revenue: JP¥24.4b (up 8.4% from 1Q 2024). Net income: JP¥1.62b (down 14% from 1Q 2024). Profit margin: 6.6% (down from 8.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥46.00 announced Shareholders will receive a dividend of JP¥46.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 4.3%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 02
WELLNEO SUGAR Co., Ltd. to Report Q1, 2025 Results on Aug 05, 2024 WELLNEO SUGAR Co., Ltd. announced that they will report Q1, 2025 results on Aug 05, 2024 Announcement • May 26
Wellneo Sugar Co., Ltd. Announces Consolidated Quantitative Earnings Guidance for the Fiscal Year 2025 WELLNEO SUGAR Co., Ltd. announced consolidated quantitative earnings guidance for the fiscal year 2025. For the year, The company expects profit of JPY 5,000 million. Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥169 (vs JP¥43.24 in FY 2023) Full year 2024 results: EPS: JP¥169 (up from JP¥43.24 in FY 2023). Revenue: JP¥92.2b (up 58% from FY 2023). Net income: JP¥5.52b (up 420% from FY 2023). Profit margin: 6.0% (up from 1.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 17
WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 26, 2024 WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 26, 2024. Announcement • May 15
WELLNEO SUGAR Co., Ltd. Proposes Year-End Dividend for the Financial Year Ended March 31, 2024 WELLNEO SUGAR Co., Ltd. announced that its Board of Directors resolved at a meeting held on May 14, 2024, to propose year-end dividend of JPY 56.00 per for the financial year ended March 31, 2024 at it's AGM to be held on June 26, 2024 compared JPY JPY 30 per share paid a year ago or dividend JPY 46.00 per share forecasted previously. Effective date is June 27, 2024 and record date is March 31, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.7%). Announcement • Mar 02
WELLNEO SUGAR Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 WELLNEO SUGAR Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥53.44 (vs JP¥18.23 in 3Q 2023) Third quarter 2024 results: EPS: JP¥53.44 (up from JP¥18.23 in 3Q 2023). Revenue: JP¥25.0b (up 86% from 3Q 2023). Net income: JP¥1.75b (up 335% from 3Q 2023). Profit margin: 7.0% (up from 3.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 26
WELLNEO SUGAR Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 WELLNEO SUGAR Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥36.96 (vs JP¥0.32 in 2Q 2023) Second quarter 2024 results: EPS: JP¥36.96 (up from JP¥0.32 in 2Q 2023). Revenue: JP¥22.4b (up 87% from 2Q 2023). Net income: JP¥1.21b (up JP¥1.20b from 2Q 2023). Profit margin: 5.4% (up from 0.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
WELLNEO SUGAR Co., Ltd. Announces Interim Dividend; Provides Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024 WELLNEO SUGAR Co., Ltd. is announcing that a meeting of the Board of Directors was held on November 8, 2023 where JPY 46.00 per share interim dividend was released compared to JPY 33.00 per share with the record date of September 30, 2023, as described below. Effective date is December 1, 2023.For the fiscal year ending March 31, 2024, the company expects to pay a year-end dividend of JPY 46.00 per share compared to JPY 37.00 ((JPY 30 regular dividend) (JPY 7 commemorative dividend) a year ago. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥46.00 per share at 4.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Announcement • Aug 30
WELLNEO SUGAR Co., Ltd. to Report Q2, 2024 Results on Nov 08, 2023 WELLNEO SUGAR Co., Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥57.26 (vs JP¥19.37 in 1Q 2023) First quarter 2024 results: EPS: JP¥57.26 (up from JP¥19.37 in 1Q 2023). Revenue: JP¥22.5b (up 79% from 1Q 2023). Net income: JP¥1.88b (up 338% from 1Q 2023). Profit margin: 8.3% (up from 3.4% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Board Change • Jul 26
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Outside Director Motohiro Ikehara 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. Announcement • Jun 09
WELLNEO SUGAR Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ended March 31, 2024 WELLNEO SUGAR Co., Ltd. provided earnings guidance for the fiscal year ended March 31, 2024. For the year, the company expects revenue of JPY 90,000 million, operating profit of JPY 5,100 million, profit before tax of JPY 6,800 million, profit attribute to owners of parent JPY 5,000 million compared to previous result of revenue of JPY 58,347 million, operating profit of JPY 1,606 million, profit before tax of JPY 1,804 million, profit attribute to owners of parent JPY 1,062 million. Announcement • May 28
WELLNEO SUGAR Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023 WELLNEO SUGAR Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Announcement • May 17
WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 28, 2023 WELLNEO SUGAR Co., Ltd., Annual General Meeting, Jun 28, 2023. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥43.24 (vs JP¥77.63 in FY 2022) Full year 2023 results: EPS: JP¥43.24 (down from JP¥77.63 in FY 2022). Revenue: JP¥58.3b (up 27% from FY 2022). Net income: JP¥1.06b (down 38% from FY 2022). Profit margin: 1.8% (down from 3.7% 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 16% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥18.28 (vs JP¥33.49 in 3Q 2022) Third quarter 2023 results: EPS: JP¥18.28 (down from JP¥33.49 in 3Q 2022). Revenue: JP¥13.4b (up 7.5% from 3Q 2022). Net income: JP¥404.0m (down 45% from 3Q 2022). Profit margin: 3.0% (down from 5.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Dec 28
Nissin Sugar Co., Ltd. to Report Q3, 2023 Results on Feb 08, 2023 Nissin Sugar Co., Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥0.32 (vs JP¥17.93 in 2Q 2022) Second quarter 2023 results: EPS: JP¥0.32 (down from JP¥17.93 in 2Q 2022). Revenue: JP¥12.0b (up 7.9% from 2Q 2022). Net income: JP¥7.00m (down 98% from 2Q 2022). Profit margin: 0.1% (down from 3.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% 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. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Motohiro Ikehara was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥0.32 (vs JP¥17.93 in 2Q 2022) Second quarter 2023 results: EPS: JP¥0.32 (down from JP¥17.93 in 2Q 2022). Revenue: JP¥12.0b (up 7.9% from 2Q 2022). Net income: JP¥7.00m (down 98% from 2Q 2022). Profit margin: 0.1% (down from 3.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% 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 22
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio and cash payout ratio are on the higher end at 92% and 78% respectively. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Aug 28
Nissin Sugar Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022 Nissin Sugar Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥19.37 (vs JP¥24.13 in 1Q 2022) First quarter 2023 results: EPS: JP¥19.37 (down from JP¥24.13 in 1Q 2022). Revenue: JP¥12.6b (up 8.7% from 1Q 2022). Net income: JP¥428.0m (down 20% from 1Q 2022). Profit margin: 3.4% (down from 4.6% 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 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Nissin Sugar Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Nissin Sugar Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 19
Full year 2022 earnings released: EPS: JP¥77.63 (vs JP¥51.26 in FY 2021) Full year 2022 results: EPS: JP¥77.63 (up from JP¥51.26 in FY 2021). Revenue: JP¥46.1b (up 5.2% from FY 2021). Net income: JP¥1.72b (up 52% from FY 2021). Profit margin: 3.7% (up from 2.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • May 18
Nissin Sugar Co., Ltd., Annual General Meeting, Jun 28, 2022 Nissin Sugar Co., Ltd., Annual General Meeting, Jun 28, 2022. Buying Opportunity • May 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.1%. The fair value is estimated to be JP¥2,165, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 17%. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Motohiro Ikehara was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Nissin Sugar Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Nissin Sugar Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Buying Opportunity • Mar 30
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥2,151, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 17%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥33.49 (up from JP¥23.63 in 3Q 2021). Revenue: JP¥12.5b (up 2.1% from 3Q 2021). Net income: JP¥740.0m (up 42% from 3Q 2021). Profit margin: 5.9% (up from 4.3% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 17% 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. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥17.93 (vs JP¥9.51 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥11.1b (up 6.9% from 2Q 2021). Net income: JP¥396.0m (up 89% from 2Q 2021). Profit margin: 3.6% (up from 2.0% 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 19% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 10
First quarter 2022 earnings released: EPS JP¥24.13 (vs JP¥11.41 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥11.6b (up 9.7% from 1Q 2021). Net income: JP¥533.0m (up 112% from 1Q 2021). Profit margin: 4.6% (up from 2.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥51.26 (vs JP¥98.42 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥43.8b (down 8.5% from FY 2020). Net income: JP¥1.13b (down 48% from FY 2020). Profit margin: 2.6% (down from 4.5% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.5%). Is New 90 Day High Low • Mar 08
New 90-day high: JP¥1,906 The company is up 3.0% from its price of JP¥1,845 on 08 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 2.0% over the same period. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS JP¥23.68 (vs JP¥17.85 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥12.3b (down 7.3% from 3Q 2020). Net income: JP¥523.0m (up 33% from 3Q 2020). Profit margin: 4.3% (up from 3.0% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Jan 05
New 90-day low: JP¥1,811 The company is down 6.0% from its price of JP¥1,925 on 07 October 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 3.0% over the same period. Announcement • Dec 03
Nissin Sugar Co., Ltd. to Report Q3, 2021 Results on Feb 08, 2021 Nissin Sugar Co., Ltd. announced that they will report Q3, 2021 results on Feb 08, 2021 Announcement • Aug 23
Nissin Sugar Co., Ltd. to Report Q2, 2021 Results on Nov 09, 2020 Nissin Sugar Co., Ltd. announced that they will report Q2, 2021 results on Nov 09, 2020 
