Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. President, CEO & Representative Director Kimito Kubo was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to JP¥2,810. The fair value is estimated to be JP¥2,330, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 33%. Announcement • Jun 04
Nippon Rietec Co.,Ltd. to Report Q1, 2027 Results on Aug 06, 2026 Nippon Rietec Co.,Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026 Buy Or Sell Opportunity • May 25
Now 21% overvalued Over the last 90 days, the stock has fallen 7.8% to JP¥2,811. The fair value is estimated to be JP¥2,318, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • May 13
Full year 2026 earnings released: EPS: JP¥224 (vs JP¥191 in FY 2025) Full year 2026 results: EPS: JP¥224 (up from JP¥191 in FY 2025). Revenue: JP¥74.0b (up 7.8% from FY 2025). Net income: JP¥5.55b (up 17% from FY 2025). Profit margin: 7.5% (up from 6.9% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 30% per year. Announcement • May 12
Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 25, 2026 Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 09
Nippon Rietec Co.,Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 Nippon Rietec Co.,Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥82.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Announcement • Feb 21
Nippon Rietec Co.,Ltd. has filed a Follow-on Equity Offering. Nippon Rietec Co.,Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,494,800 Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,035, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 280% over the past three years. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥60.34 (vs JP¥34.67 in 3Q 2025) Third quarter 2026 results: EPS: JP¥60.34 (up from JP¥34.67 in 3Q 2025). Revenue: JP¥19.9b (up 18% from 3Q 2025). Net income: JP¥1.50b (up 74% from 3Q 2025). Profit margin: 7.5% (up from 5.1% 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 36% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jan 08
Dividend of JP¥82.00 announced Shareholders will receive a dividend of JP¥82.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (38% 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 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 07
Nippon Rietec Co.,Ltd. announces Annual dividend, payable on June 26, 2026 Nippon Rietec Co.,Ltd. announced Annual dividend of JPY 82.0000 per share payable on June 26, 2026, ex-date on March 30, 2026 and record date on March 31, 2026. Announcement • Dec 05
Nippon Rietec Co.,Ltd. to Report Q3, 2026 Results on Feb 12, 2026 Nippon Rietec Co.,Ltd. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥41.66 (vs JP¥39.07 in 2Q 2025) Second quarter 2026 results: EPS: JP¥41.66 (up from JP¥39.07 in 2Q 2025). Revenue: JP¥16.5b (up 4.6% from 2Q 2025). Net income: JP¥1.03b (up 6.7% from 2Q 2025). Profit margin: 6.3% (up from 6.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 23
Nippon Rietec Co.,Ltd. to Report Q2, 2026 Results on Nov 10, 2025 Nippon Rietec Co.,Ltd. announced that they will report Q2, 2026 results on Nov 10, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥0.73 (vs JP¥7.76 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥0.73 (up from JP¥7.76 loss in 1Q 2025). Revenue: JP¥12.2b (up 8.1% from 1Q 2025). Net income: JP¥18.0m (up JP¥210.0m from 1Q 2025). Profit margin: 0.1% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 31% per year. Announcement • May 29
Nippon Rietec Co.,Ltd. to Report Q1, 2026 Results on Aug 07, 2025 Nippon Rietec Co.,Ltd. announced that they will report Q1, 2026 results at 9:00 AM, Tokyo Standard Time on Aug 07, 2025 Reported Earnings • May 14
Full year 2025 earnings released: EPS: JP¥191 (vs JP¥111 in FY 2024) Full year 2025 results: EPS: JP¥191 (up from JP¥111 in FY 2024). Revenue: JP¥68.7b (up 17% from FY 2024). Net income: JP¥4.73b (up 71% from FY 2024). Profit margin: 6.9% (up from 4.7% 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 29% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,484, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 10x in the Construction industry in Japan. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Announcement • Mar 01
Nippon Rietec Co.,Ltd. to Report Fiscal Year 2025 Results on May 12, 2025 Nippon Rietec Co.,Ltd. announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥34.67 (vs JP¥23.04 in 3Q 2024) Third quarter 2025 results: EPS: JP¥34.67 (up from JP¥23.04 in 3Q 2024). Revenue: JP¥16.9b (up 15% from 3Q 2024). Net income: JP¥858.1m (up 50% from 3Q 2024). Profit margin: 5.1% (up from 3.9% 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 26% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Feb 12
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 5.1% 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 Risk Earnings have declined by 5.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.1% average weekly change). Declared Dividend • Jan 06
Dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (24% 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 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Dec 20
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 5.1% 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 Risk Earnings have declined by 5.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.1% average weekly change). Announcement • Dec 03
Nippon Rietec Co.,Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Nippon Rietec Co.,Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥39.07 (vs JP¥23.05 in 2Q 2024) Second quarter 2025 results: EPS: JP¥39.07 (up from JP¥23.05 in 2Q 2024). Revenue: JP¥15.7b (up 24% from 2Q 2024). Net income: JP¥967.0m (up 68% from 2Q 2024). Profit margin: 6.1% (up from 4.5% 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 23% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 29
Nippon Rietec Co.,Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Nippon Rietec Co.,Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 14
First quarter 2025 earnings released: JP¥7.76 loss per share (vs JP¥26.17 loss in 1Q 2024) First quarter 2025 results: JP¥7.76 loss per share (improved from JP¥26.17 loss in 1Q 2024). Revenue: JP¥11.3b (up 25% from 1Q 2024). Net loss: JP¥192.0m (loss narrowed 71% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 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 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥950, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 11x in the Construction industry in Japan. Total loss to shareholders of 38% over the past three years. Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥111 (vs JP¥85.07 in FY 2023) Full year 2024 results: EPS: JP¥111 (up from JP¥85.07 in FY 2023). Revenue: JP¥58.5b (up 8.9% from FY 2023). Net income: JP¥2.77b (up 30% from FY 2023). Profit margin: 4.7% (up from 4.0% 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 4% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 16
Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 26, 2024 Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.7%). Announcement • Mar 02
Nippon Rietec Co.,Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Nippon Rietec 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¥23.04 (vs JP¥7.12 in 3Q 2023) Third quarter 2024 results: EPS: JP¥23.04 (up from JP¥7.12 in 3Q 2023). Revenue: JP¥14.7b (up 19% from 3Q 2023). Net income: JP¥572.0m (up 220% from 3Q 2023). Profit margin: 3.9% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Nov 17
Nippon Rietec Co.,Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Nippon Rietec Co.,Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥23.05 (vs JP¥2.39 in 2Q 2023) Second quarter 2024 results: EPS: JP¥23.05 (up from JP¥2.39 in 2Q 2023). Revenue: JP¥12.7b (up 5.8% from 2Q 2023). Net income: JP¥575.0m (up JP¥515.0m from 2Q 2023). Profit margin: 4.5% (up from 0.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 21% per year. Announcement • Nov 09
Nippon Rietec Co.,Ltd. (TSE:1938) announces an Equity Buyback for 220,000 shares, representing 0.88% for ¥275.66 million. Nippon Rietec Co.,Ltd. (TSE:1938) announces a share repurchase program. Under the program, the company will repurchase up to 220,000 shares, representing 0.88% of its issued share capital, for ¥275.66 million. The shares will be repurchased at a price of ¥ 1,253 per share. The purpose of the program is to to improve capital efficiency and flexibly enhance shareholder returns in response to changes in the business environment. As of October 31, 2023, the company had 24,951,252 shares (excluding treasury stock) issued and 666,465 shares in treasury. Announcement • Sep 07
Nippon Rietec Co.,Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Nippon Rietec Co.,Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 09
First quarter 2024 earnings released: JP¥26.17 loss per share (vs JP¥30.77 loss in 1Q 2023) First quarter 2024 results: JP¥26.17 loss per share (improved from JP¥30.77 loss in 1Q 2023). Revenue: JP¥9.01b (up 13% from 1Q 2023). Net loss: JP¥653.0m (loss narrowed 16% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 26% per year. Board Change • Jul 26
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. Outside Independent Director Naomi Inoue was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 19
Nippon Rietec Co.,Ltd. to Report Q1, 2024 Results on Aug 04, 2023 Nippon Rietec Co.,Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥85.07 (vs JP¥95.54 in FY 2022) Full year 2023 results: EPS: JP¥85.07 (down from JP¥95.54 in FY 2022). Revenue: JP¥53.7b (up 1.0% from FY 2022). Net income: JP¥2.14b (down 11% from FY 2022). Profit margin: 4.0% (down from 4.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,085, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 10x in the Construction industry in Japan. Total loss to shareholders of 38% over the past three years. Buying Opportunity • Apr 07
Now 21% undervalued Over the last 90 days, the stock is up 7.4%. The fair value is estimated to be JP¥1,171, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 27%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.6%). Buying Opportunity • Mar 13
Now 22% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be JP¥1,148, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 27%. Buying Opportunity • Feb 22
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be JP¥1,119, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 27%. Reported Earnings • Feb 09
Third quarter 2023 earnings released: JP¥21.29 loss per share (vs JP¥19.28 profit in 3Q 2022) Third quarter 2023 results: JP¥21.29 loss per share (down from JP¥19.28 profit in 3Q 2022). Revenue: JP¥32.3b (up 148% from 3Q 2022). Net loss: JP¥535.5m (down 210% from profit in 3Q 2022). 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 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥2.39 (vs JP¥10.82 in 2Q 2022) Second quarter 2023 results: EPS: JP¥2.39 (down from JP¥10.82 in 2Q 2022). Revenue: JP¥12.0b (down 2.9% from 2Q 2022). Net income: JP¥60.0m (down 78% from 2Q 2022). Profit margin: 0.5% (down from 2.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Outside Independent Director Naomi Inoue was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 12
Nippon Rietec Co.,Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Nippon Rietec Co.,Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: JP¥2.39 (vs JP¥10.82 in 2Q 2022) Second quarter 2023 results: EPS: JP¥2.39 (down from JP¥10.82 in 2Q 2022). Revenue: JP¥12.0b (down 2.9% from 2Q 2022). Net income: JP¥60.0m (down 78% from 2Q 2022). Profit margin: 0.5% (down from 2.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Buying Opportunity • Nov 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be JP¥915, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 19%. Announcement • Aug 11
Nippon Rietec Co.,Ltd. to Report Q2, 2023 Results on Nov 07, 2022 Nippon Rietec Co.,Ltd. announced that they will report Q2, 2023 results on Nov 07, 2022 Buying Opportunity • Aug 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be JP¥1,106, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.8% over the last 3 years. Earnings per share has declined by 19%. Reported Earnings • Aug 07
First quarter 2023 earnings released: JP¥30.77 loss per share (vs JP¥20.68 loss in 1Q 2022) First quarter 2023 results: JP¥30.77 loss per share (down from JP¥20.68 loss in 1Q 2022). Revenue: JP¥8.00b (down 7.9% from 1Q 2022). Net loss: JP¥774.0m (loss widened 49% from 1Q 2022). 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 • Jun 04
Nippon Rietec Co.,Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Nippon Rietec Co.,Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥95.54 (vs JP¥130 in FY 2021) Full year 2022 results: EPS: JP¥95.54 (down from JP¥130 in FY 2021). Revenue: JP¥53.2b (down 3.6% from FY 2021). Net income: JP¥2.40b (down 27% from FY 2021). Profit margin: 4.5% (down from 5.9% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Announcement • May 14
Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 24, 2022 Nippon Rietec Co.,Ltd., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Osamu Kato was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Nippon Rietec Co.,Ltd. to Report Fiscal Year 2022 Results on May 12, 2022 Nippon Rietec Co.,Ltd. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 27 June 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.1%). Board Change • Mar 01
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. 4 non-independent directors. Independent Outside Director Osamu Kato 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 • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥19.28 (down from JP¥24.29 in 3Q 2021). Revenue: JP¥13.0b (flat on 3Q 2021). Net income: JP¥485.0m (down 21% from 3Q 2021). Profit margin: 3.7% (down from 4.7% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥10.82 (vs JP¥36.46 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥12.4b (down 1.6% from 2Q 2021). Net income: JP¥272.0m (down 70% from 2Q 2021). Profit margin: 2.2% (down from 7.3% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Jun 30
Full year 2021 earnings released: EPS JP¥130 (vs JP¥144 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥55.2b (down 10% from FY 2020). Net income: JP¥3.28b (down 9.8% from FY 2020). Profit margin: 5.9% (in line with FY 2020). 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 3% per year. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥130 (vs JP¥144 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥55.2b (down 10% from FY 2020). Net income: JP¥3.28b (down 9.8% from FY 2020). Profit margin: 5.9% (in line with FY 2020). 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 3% per year. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥1,968, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 10x in the Construction industry in Japan. Total returns to shareholders of 43% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (2.6%). Announcement • Mar 21
Nippon Rietec Co.,Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Nippon Rietec Co.,Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥24.29 (vs JP¥27.20 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥13.0b (up 2.5% from 3Q 2020). Net income: JP¥611.0m (down 11% from 3Q 2020). Profit margin: 4.7% (down from 5.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. 
