Reported Earnings • May 12
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥209 (up from JP¥198 in FY 2025). Revenue: JP¥40.2b (down 2.6% from FY 2025). Net income: JP¥3.99b (up 2.5% from FY 2025). Profit margin: 9.9% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 25, 2026 FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥43.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥30.58 (vs JP¥35.67 in 3Q 2025) Third quarter 2026 results: EPS: JP¥30.58 (down from JP¥35.67 in 3Q 2025). Revenue: JP¥9.64b (up 7.0% from 3Q 2025). Net income: JP¥586.0m (down 14% from 3Q 2025). Profit margin: 6.1% (down from 7.6% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 14
Fujikura Composites Inc. Revises Dividend Forecasts for the Fiscal Year Ending March 31, 2026 FUJIKURA COMPOSITES Inc. revised dividend forecasts for the Fiscal Year Ending March 31, 2026. For the year,company expected to pay JPY 43.00 per share against previous forecast of JPY 33.00 per share . Reason for revision: To further enhance return of profits to shareholders, the Company upwardly revised the year-end dividend forecasts for the fiscal year ending March 31, 2026 to 43 yen per share, increasing by 10 yen from 33 yen per share, in consideration of the most recent and future earnings conditions, financial positions, business environment, and future investment plans. Accordingly, the annual dividend per share and the dividend on equity (DOE) are expected to be 76 yen and 4.7%, respectively. Dividends in and after the next fiscal year will be implemented on the basis of the Shareholder Return Policy. Declared Dividend • Dec 02
First half dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥50.73 (vs JP¥60.54 in 2Q 2025) Second quarter 2026 results: EPS: JP¥50.73 (down from JP¥60.54 in 2Q 2025). Revenue: JP¥9.86b (down 8.2% from 2Q 2025). Net income: JP¥972.0m (down 16% from 2Q 2025). Profit margin: 9.9% (in line with 2Q 2025). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto Components industry in Japan. 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 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.0%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥63.99 (vs JP¥51.53 in 1Q 2025) First quarter 2026 results: EPS: JP¥63.99 (up from JP¥51.53 in 1Q 2025). Revenue: JP¥10.4b (up 9.9% from 1Q 2025). Net income: JP¥1.23b (up 13% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥198 (up from JP¥140 in FY 2024). Revenue: JP¥41.3b (up 9.4% from FY 2024). Net income: JP¥3.89b (up 20% from FY 2024). Profit margin: 9.4% (up from 8.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.5%. Revenue is forecast to stay flat during the next 2 years compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. New Risk • Apr 07
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 5.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,160, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Auto Components industry in Japan. Total returns to shareholders of 89% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥35.66 (vs JP¥29.98 in 3Q 2024) Third quarter 2025 results: EPS: JP¥35.66. Revenue: JP¥9.01b (down 9.6% from 3Q 2024). Net income: JP¥683.0m (down 1.6% from 3Q 2024). Profit margin: 7.6% (up from 7.0% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Declared Dividend • Dec 03
First half dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (30% 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 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,476, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 101% over the past three years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥60.54 (vs JP¥58.91 in 2Q 2024) Second quarter 2025 results: EPS: JP¥60.54. Revenue: JP¥10.7b (up 6.8% from 2Q 2024). Net income: JP¥1.16b (down 15% from 2Q 2024). Profit margin: 11% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.5%). Announcement • Aug 21
Fujikura Composites Inc. Announces Dividend Guidance for Second Quarter and Full Fiscal Year Ending March 31, 2025 Fujikura Composites Inc. announced dividend Guidance for Second quarter and Full fiscal year ending March 31, 2025. For the second quarter of year ending March 31, 2025, the company expects to pay dividend of JPY 30.00 per share against JPY 35.00 per share an year ago.
For the full fiscal year ending March 31, 2025, the company expects to pay a dividend of JPY 30.00 per share against JPY 35.00 per share an year ago. Announcement • Aug 20
Fujikura Composites Inc. Provides Earnings Guidance for the First Half and Full Fiscal Year Ending March 31, 2025 Fujikura Composites Inc. earnings guidance for the first half and Full Fiscal year ending March 31, 2025. For the first half, the company expects net sales of JPY 19,000 million, operating profit of JPY 1,600 million, profit attributable to owners of parent JPY 1,400 million and basic earnings per share of JPY 60.47.
For the full year, the company expects net sales of JPY 39,200 million, operating profit of JPY 3,900 million, profit attributable to owners of parent JPY 3,200 million and basic earnings per share of JPY 138.21. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥51.53 (vs JP¥38.01 in 1Q 2024) First quarter 2025 results: EPS: JP¥51.53 (up from JP¥38.01 in 1Q 2024). Revenue: JP¥9.44b (up 1.4% from 1Q 2024). Net income: JP¥1.08b (up 23% from 1Q 2024). Profit margin: 12% (up from 9.5% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,052, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 137% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 46% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥140 (vs JP¥181 in FY 2023) Full year 2024 results: EPS: JP¥140 (down from JP¥181 in FY 2023). Revenue: JP¥37.8b (down 7.1% from FY 2023). Net income: JP¥3.25b (down 18% from FY 2023). Profit margin: 8.6% (down from 9.7% in FY 2023). The decrease in margin was driven by lower revenue. 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 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 27, 2024 FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 27, 2024. Announcement • May 11
FUJIKURA COMPOSITES Inc. (TSE:5121) announces an Equity Buyback for 4,000,000 shares, representing 17.06% for ¥7,500 million. FUJIKURA COMPOSITES Inc. (TSE:5121) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 17.06% of its issued share capital (excluding treasury stock), for a total purchase price of ¥7,500 million. The shares will be repurchased at a price of ¥1,401 per share. The purpose of the program is to implement flexible capital policies in response to changes in the business environment, enhance returns to shareholders, and to improve the capital efficiency. As of May 10, 2024, the company has 23,446,209 issued shares (excluding treasury stock) and 36 treasury shares. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥29.98 (vs JP¥50.90 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.98 (down from JP¥50.90 in 3Q 2023). Revenue: JP¥9.97b (down 10% from 3Q 2023). Net income: JP¥694.0m (down 39% from 3Q 2023). Profit margin: 7.0% (down from 10% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 01
Fujikura Composites Inc. Announces Dividend for the Second Quarter Ended September 30, 2023, Payable December 1, 2023; Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 FUJIKURA COMPOSITES Inc. announced dividend of JPY 35.00 for the second quarter ended September 30, 2023 against JPY 20.00 per share paid for the same period a year ago. Scheduled date of commencing dividend payments: December 1, 2023.The company provided dividend guidance for the Fiscal year ending March 31, 2024. For the year, the company expects dividend of JPY 35.00 per share against JPY 20.00 per share paid for the same period a year ago. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥58.91 (vs JP¥42.17 in 2Q 2023) Second quarter 2024 results: EPS: JP¥58.91 (up from JP¥42.17 in 2Q 2023). Revenue: JP¥10.1b (down 5.5% from 2Q 2023). Net income: JP¥1.36b (up 51% from 2Q 2023). Profit margin: 14% (up from 8.5% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 14
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 5.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.3% average weekly change). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥38.01 (vs JP¥56.75 in 1Q 2023) First quarter 2024 results: EPS: JP¥38.01 (down from JP¥56.75 in 1Q 2023). Revenue: JP¥9.31b (down 3.4% from 1Q 2023). Net income: JP¥880.0m (down 26% from 1Q 2023). Profit margin: 9.5% (down from 12% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥181 (vs JP¥181 in FY 2022) Full year 2023 results: EPS: JP¥181. Revenue: JP¥40.7b (up 9.4% from FY 2022). Net income: JP¥3.95b (down 2.8% from FY 2022). Profit margin: 9.7% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Announcement • May 13
FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 29, 2023 FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 29, 2023. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥878, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 168% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥50.90 (vs JP¥47.29 in 3Q 2022) Third quarter 2023 results: EPS: JP¥50.90 (up from JP¥47.29 in 3Q 2022). Revenue: JP¥11.1b (up 17% from 3Q 2022). Net income: JP¥1.13b (up 8.0% from 3Q 2022). Profit margin: 10% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Dec 03
Fujikura Composites Inc. Announces to Pay the Dividend for the Second Quarter of Year Ended September 30, 2022, Scheduled Date of Commencing Dividend Payments from December 1, 2022 and Provides Dividend Guidance for the Year Ending March 31, 2023 Fujikura Composites Inc. announced to pay the dividend of JPY 20 per share for the second quarter of year ended September 30, 2022 against JPY 10 per share a year ago. The scheduled date of commencing dividend payments from December 1, 2022.The company expects to pay the dividend of JPY 20 per share for year Ending March 31, 2023 against JPY 16 per share a year ago. Announcement • Dec 01
FUJIKURA COMPOSITES Inc. Provides Consolidated Earnings Guidance for the Full Year of Year Ending March 31, 2023 FUJIKURA COMPOSITES Inc. provided consolidated earnings guidance for the full year of year ending march 31, 2023. For the full year, the company expected net sales of JPY 40,600 million, operating profit of JPY 4,600 million, profit attributable to owners of parent of JPY 4,300 million, Basic earnings per share of JPY 202.16 per basic share. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥42.17 (vs JP¥42.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥42.17 (down from JP¥42.49 in 2Q 2022). Revenue: JP¥10.7b (up 16% from 2Q 2022). Net income: JP¥906.0m (down 8.9% from 2Q 2022). Profit margin: 8.5% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. 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. 4 non-independent directors. Independent Outside Director Yoichi Nagahama was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥42.17 (vs JP¥42.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥42.17 (down from JP¥42.49 in 2Q 2022). Revenue: JP¥10.7b (up 16% from 2Q 2022). Net income: JP¥906.0m (down 8.9% from 2Q 2022). Profit margin: 8.5% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,123, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 222% over the past three years. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥56.75 (vs JP¥40.43 in 1Q 2022) First quarter 2023 results: EPS: JP¥56.75 (up from JP¥40.43 in 1Q 2022). Revenue: JP¥9.63b (up 14% from 1Q 2022). Net income: JP¥1.20b (up 26% from 1Q 2022). Profit margin: 12% (up from 11% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • May 28
FUJIKURA COMPOSITES Inc. (TSE:5121) agreed to acquire Technology Service Ltd. FUJIKURA COMPOSITES Inc. (TSE:5121) agreed to acquire Technology Service Ltd. on May 27, 2022. Fujikura will acquire all 400 shares of Technology Service Ltd. The transaction is expected to complete on June 13, 2022. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥817, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 128% over the past three years. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥181 (vs JP¥50.52 in FY 2021) Full year 2022 results: EPS: JP¥181 (up from JP¥50.52 in FY 2021). Revenue: JP¥37.2b (up 27% from FY 2021). Net income: JP¥4.06b (up 244% from FY 2021). Profit margin: 11% (up from 4.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • May 15
FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 29, 2022 FUJIKURA COMPOSITES Inc., Annual General Meeting, Jun 29, 2022. 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. 4 non-independent directors. Independent Outside Director Satoshi Sasaki was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 4.4% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.0%). Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥47.29 (up from JP¥12.57 in 3Q 2021). Revenue: JP¥9.51b (up 27% from 3Q 2021). Net income: JP¥1.05b (up 256% from 3Q 2021). Profit margin: 11% (up from 3.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Dec 10
FUJIKURA COMPOSITES Inc. announced that it has received ¥2.64303 billion in funding On December 9, 2021, FUJIKURA COMPOSITES Inc. closed the transaction. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥838, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 7x in the Auto Components industry in Japan. Total returns to shareholders of 81% over the past three years. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥42.49 (vs JP¥7.48 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥9.18b (up 31% from 2Q 2021). Net income: JP¥994.0m (up 468% from 2Q 2021). Profit margin: 11% (up from 2.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥773, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥676, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 22% over the past three years. Reported Earnings • Aug 12
First quarter 2022 earnings released: EPS JP¥40.43 (vs JP¥1.58 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥8.46b (up 32% from 1Q 2021). Net income: JP¥946.0m (up JP¥909.0m from 1Q 2021). Profit margin: 11% (up from 0.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥606, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 8.4% over the past three years. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥50.52 (vs JP¥16.67 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥29.3b (down 8.5% from FY 2020). Net income: JP¥1.18b (up 203% from FY 2020). Profit margin: 4.0% (up from 1.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥567, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 18x in the Auto Components industry in Japan. Total loss to shareholders of 20% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (1.9%). 
