Announcement • Jun 03
Shofu Inc. to Report Q1, 2027 Results on Aug 05, 2026 Shofu Inc. announced that they will report Q1, 2027 results on Aug 05, 2026 Reported Earnings • May 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥137 (up from JP¥122 in FY 2025). Revenue: JP¥40.0b (up 3.3% from FY 2025). Net income: JP¥4.89b (up 13% from FY 2025). Profit margin: 12% (up from 11% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Announcement • May 13
Shofu Inc., Annual General Meeting, Jun 24, 2026 Shofu Inc., Annual General Meeting, Jun 24, 2026. Announcement • May 10
Shofu Inc. to Report Fiscal Year 2026 Results on May 13, 2026 Shofu Inc. announced that they will report fiscal year 2026 results at 9:00 AM, Tokyo Standard Time on May 13, 2026 Price Target Changed • Apr 07
Price target decreased by 7.5% to JP¥2,450 Down from JP¥2,650, the current price target is an average from 2 analysts. New target price is 44% above last closing price of JP¥1,699. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥124 for next year compared to JP¥122 last year. Buy Or Sell Opportunity • Mar 30
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.4% to JP¥1,672. The fair value is estimated to be JP¥2,179, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 44% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Buy Or Sell Opportunity • Mar 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.9% to JP¥1,735. The fair value is estimated to be JP¥2,169, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥22.90 (vs JP¥31.51 in 3Q 2025) Third quarter 2026 results: EPS: JP¥22.90 (down from JP¥31.51 in 3Q 2025). Revenue: JP¥10.0b (flat on 3Q 2025). Net income: JP¥815.0m (down 27% from 3Q 2025). Profit margin: 8.1% (down from 11% in 3Q 2025). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 18% per year. Price Target Changed • Jan 07
Price target decreased by 9.3% to JP¥2,600 Down from JP¥2,867, the current price target is an average from 2 analysts. New target price is 41% above last closing price of JP¥1,843. Stock is down 17% over the past year. The company is forecast to post earnings per share of JP¥128 for next year compared to JP¥122 last year. Buy Or Sell Opportunity • Dec 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to JP¥1,774. The fair value is estimated to be JP¥2,236, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Announcement • Dec 05
Shofu Inc. to Report Q3, 2026 Results on Feb 04, 2026 Shofu Inc. announced that they will report Q3, 2026 results on Feb 04, 2026 Declared Dividend • Nov 29
First half dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 30th March 2026 Payment date: 5th June 2026 Dividend yield will be 2.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (119% cash payout ratio). The dividend has increased by an average of 19% 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. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 15
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 119% Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥48.98 (vs JP¥35.01 in 2Q 2025) Second quarter 2026 results: EPS: JP¥48.98 (up from JP¥35.01 in 2Q 2025). Revenue: JP¥9.59b (up 1.7% from 2Q 2025). Net income: JP¥1.74b (up 40% from 2Q 2025). Profit margin: 18% (up from 13% in 2Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year. Buy Or Sell Opportunity • Sep 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to JP¥2,005. The fair value is estimated to be JP¥2,517, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Announcement • Sep 02
Shofu Inc. to Report Q2, 2026 Results on Nov 06, 2025 Shofu Inc. announced that they will report Q2, 2026 results on Nov 06, 2025 Buy Or Sell Opportunity • Aug 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to JP¥1,978. The fair value is estimated to be JP¥2,487, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Jul 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to JP¥1,987. The fair value is estimated to be JP¥2,485, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 8.6% per annum over the same time period. Declared Dividend • Jul 09
Final dividend of JP¥21.00 announced Shareholders will receive a dividend of JP¥21.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 19% 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. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 30
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥122 (up from JP¥103 in FY 2024). Revenue: JP¥38.7b (up 10% from FY 2024). Net income: JP¥4.32b (up 18% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment 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 increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 04
Price target decreased by 8.0% to JP¥3,067 Down from JP¥3,333, the current price target is an average from 3 analysts. New target price is 48% above last closing price of JP¥2,078. Stock is up 8.5% over the past year. The company is forecast to post earnings per share of JP¥131 for next year compared to JP¥122 last year. Announcement • Jun 03
Shofu Inc. to Report Q1, 2026 Results on Aug 06, 2025 Shofu Inc. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥122 (up from JP¥103 in FY 2024). Revenue: JP¥38.7b (up 10% from FY 2024). Net income: JP¥4.32b (up 18% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment 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 increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Shofu Inc., Annual General Meeting, Jun 25, 2025 Shofu Inc., Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 05 June 2025. Payout ratio is a comfortable 32% and the cash payout ratio is 86%. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.1%). New Risk • Mar 17
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 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Mar 08
Shofu Inc. to Report Fiscal Year 2025 Results on May 09, 2025 Shofu Inc. announced that they will report fiscal year 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,262, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Medical Equipment industry in Japan. Total returns to shareholders of 173% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,371 per share. Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥31.51 (vs JP¥33.48 in 3Q 2024) Third quarter 2025 results: EPS: JP¥31.51 (down from JP¥33.48 in 3Q 2024). Revenue: JP¥9.96b (up 11% from 3Q 2024). Net income: JP¥1.12b (down 5.7% from 3Q 2024). Profit margin: 11% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 03
Shofu Inc. to Report Q3, 2025 Results on Feb 05, 2025 Shofu Inc. announced that they will report Q3, 2025 results on Feb 05, 2025 Declared Dividend • Nov 30
First half dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 28th March 2025 Payment date: 5th June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (13% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 17% 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. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥56,731 (vs JP¥24.61 in 2Q 2024) Second quarter 2025 results: EPS: JP¥56,731 (up from JP¥24.61 in 2Q 2024). Revenue: JP¥9.43b (up 15% from 2Q 2024). Net income: JP¥1.24b (up 43% from 2Q 2024). Profit margin: 13% (up from 11% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 24% per year. Board Change • Nov 03
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Mitsuo Kamimoto was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 27% and the cash payout ratio is 80%. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.0%). Buy Or Sell Opportunity • Sep 03
Now 20% undervalued Over the last 90 days, the stock has risen 32% to JP¥5,040. The fair value is estimated to be JP¥6,309, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Announcement • Aug 30
Shofu Inc. to Report Q2, 2025 Results on Nov 06, 2024 Shofu Inc. announced that they will report Q2, 2025 results on Nov 06, 2024 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (113% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Buy Or Sell Opportunity • Aug 05
Now 20% undervalued Over the last 90 days, the stock has risen 14% to JP¥3,820. The fair value is estimated to be JP¥4,802, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥63.11 (vs JP¥38.75 in 1Q 2024) First quarter 2025 results: EPS: JP¥63.11 (up from JP¥38.75 in 1Q 2024). Revenue: JP¥9.46b (up 14% from 1Q 2024). Net income: JP¥1.12b (up 63% from 1Q 2024). Profit margin: 12% (up from 8.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 16
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 80% to JP¥5,100. The fair value is estimated to be JP¥4,193, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥36.00 announced Shareholders will receive a dividend of JP¥36.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 1.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (113% cash payout ratio). The dividend has increased by an average of 17% 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. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
Shofu Inc. Announces Resignation of Yasushi Sakemi as Member of the Corporate Value Evaluation Committee Shofu Inc. announced resignation of Yasushi Sakemi. Due to the termination of the term of office as a member of the Corporate Value Evaluation Committee following the retirement of Outside Auditors at the conclusion of the Company's 152nd Ordinary Shareholders' Meeting held on June 25, 2024. Announcement • Jun 06
Shofu Inc. to Report Q1, 2025 Results on Aug 02, 2024 Shofu Inc. announced that they will report Q1, 2025 results on Aug 02, 2024 Buy Or Sell Opportunity • May 31
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to JP¥3,815. The fair value is estimated to be JP¥3,096, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,585, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Medical Equipment industry in Japan. Total returns to shareholders of 105% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,094 per share. Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥206 (up from JP¥176 in FY 2023). Revenue: JP¥35.1b (up 11% from FY 2023). Net income: JP¥3.66b (up 17% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.4%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Announcement • May 11
Shofu Inc., Annual General Meeting, Jun 25, 2024 Shofu Inc., Annual General Meeting, Jun 25, 2024. Announcement • May 01
Shofu Inc. Revises Consolidated Earnings Guidance for the Full Fiscal Year Ending March 31, 2024 Shofu Inc. revised consolidated earnings guidance for the full fiscal year ending March 31, 2024. For the year, net sales are expected to be JPY 35,080 million against JPY 34,888 million forecasted earlier, Operating income is expected to be JPY 4,709 million against JPY 4,308 million forecasted earlier, Net income attributable to owners of parent is expected to be JPY 3,655 million against JPY 3,204 million forecasted earlier and Earnings per share is expected to be JPY 206.18 against JPY 180.70 forecasted earlier. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 30% and the cash payout ratio is 78%. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.9%). Announcement • Mar 02
Shofu Inc. to Report Q4, 2024 Results on May 09, 2024 Shofu Inc. announced that they will report Q4, 2024 results on May 09, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥66.96 (vs JP¥37.17 in 3Q 2023) Third quarter 2024 results: EPS: JP¥66.96 (up from JP¥37.17 in 3Q 2023). Revenue: JP¥8.96b (up 13% from 3Q 2023). Net income: JP¥1.19b (up 79% from 3Q 2023). Profit margin: 13% (up from 8.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 15% per year. Announcement • Nov 29
Shofu Inc. to Report Q3, 2024 Results on Feb 02, 2024 Shofu Inc. announced that they will report Q3, 2024 results on Feb 02, 2024 Buying Opportunity • Nov 06
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥3,077, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 59% in the next 2 years. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥49.21 (vs JP¥55.45 in 2Q 2023) Second quarter 2024 results: EPS: JP¥49.21 (down from JP¥55.45 in 2Q 2023). Revenue: JP¥8.18b (up 5.8% from 2Q 2023). Net income: JP¥873.0m (down 12% from 2Q 2023). Profit margin: 11% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. 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 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Announcement • Sep 03
Shofu Inc. to Report Q2, 2024 Results on Nov 02, 2023 Shofu Inc. announced that they will report Q2, 2024 results on Nov 02, 2023 Buying Opportunity • Aug 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.7%. The fair value is estimated to be JP¥2,594, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 35% in the next 2 years. Announcement • Jun 09
Shofu Inc. to Report Q1, 2024 Results on Aug 03, 2023 Shofu Inc. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 13
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥176 (up from JP¥143 in FY 2022). Revenue: JP¥31.7b (up 13% from FY 2022). Net income: JP¥3.14b (up 23% from FY 2022). Profit margin: 9.9% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Shofu Inc., Annual General Meeting, Jun 27, 2023 Shofu Inc., Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥24.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥37.17 (vs JP¥47.22 in 3Q 2022) Third quarter 2023 results: EPS: JP¥37.17 (down from JP¥47.22 in 3Q 2022). Revenue: JP¥7.91b (up 11% from 3Q 2022). Net income: JP¥663.0m (down 21% from 3Q 2022). Profit margin: 8.4% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Shofu Inc. (TSE:7979) announces an Equity Buyback for 150,000 shares, representing 0.84% for ¥343.5 million. Shofu Inc. (TSE:7979) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 0.84% of its issued share capital (excluding treasury stock), for a total purchase price of ¥343.5 million. The shares will be repurchased at a price of ¥2,290 per share. The purpose of the program is to implement agile capital policies that respond to changes in the business environment. As of January 31, 2023, the company had 17,842,082 issued shares (excluding treasury stock) and 52,007 treasury shares. Announcement • Nov 30
Shofu Inc. to Report Q3, 2023 Results on Feb 03, 2023 Shofu Inc. announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 04
Second quarter 2023 earnings released: EPS: JP¥55.45 (vs JP¥49.26 in 2Q 2022) Second quarter 2023 results: EPS: JP¥55.45 (up from JP¥49.26 in 2Q 2022). Revenue: JP¥7.73b (up 12% from 2Q 2022). Net income: JP¥989.0m (up 13% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 26
Now 21% undervalued Over the last 90 days, the stock is up 40%. The fair value is estimated to be JP¥3,160, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 0.9% in the next 2 years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.0%). Announcement • Sep 01
Shofu Inc. to Report Q2, 2023 Results on Nov 02, 2022 Shofu Inc. announced that they will report Q2, 2023 results on Nov 02, 2022 Reported Earnings • Aug 06
First quarter 2023 earnings released: EPS: JP¥64.30 (vs JP¥35.47 in 1Q 2022) First quarter 2023 results: EPS: JP¥64.30 (up from JP¥35.47 in 1Q 2022). Revenue: JP¥8.10b (up 16% from 1Q 2022). Net income: JP¥1.14b (up 82% from 1Q 2022). Profit margin: 14% (up from 9.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.2%, compared to a 10.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥2,105, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Medical Equipment industry in Japan. Total returns to shareholders of 47% over the past three years. Announcement • Jun 25
Shofu Inc. to Report Q1, 2023 Results on Aug 04, 2022 Shofu Inc. announced that they will report Q1, 2023 results on Aug 04, 2022 Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,707, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Medical Equipment industry in Japan. Total returns to shareholders of 42% over the past three years. Reported Earnings • May 13
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: JP¥143 (up from JP¥96.30 in FY 2021). Revenue: JP¥28.1b (up 14% from FY 2021). Net income: JP¥2.55b (up 52% from FY 2021). Profit margin: 9.0% (up from 6.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 2.0%. Over the next year, revenue is expected to shrink by 5.5% compared to a 7.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Shofu Inc., Annual General Meeting, Jun 24, 2022 Shofu Inc., 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 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Daizo Nishimura was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Shofu Inc. to Report Fiscal Year 2022 Results on May 11, 2022 Shofu Inc. announced that they will report fiscal year 2022 results on May 11, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). 
