Live News • May 20
Toenec Boosts 2027 Targets With Greater Emphasis on Capital Efficiency and Shareholder Value Toenec has raised its 2027 targets for sales, profit and ROE after reaching earlier medium-term goals ahead of schedule.
Management has updated its policies to focus more on cost of capital, stock price and overall corporate value.
The company is planning around continued private-sector capital investment tied to renovation, AI-related demand and carbon-neutral projects, while acknowledging risks from global instability and higher input costs.
A clearer focus on cost of capital and corporate value indicates that management is paying closer attention to capital efficiency and the link between business decisions and shareholder outcomes.
At the same time, the reliance on private-sector investment in renovation, AI and decarbonization projects means you may want to watch how sensitive future results are to changes in project pipelines and construction-related input costs. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,454, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 272% over the past three years. New Risk • Apr 30
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 7.6% 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 (7.6% average weekly change). Announcement • Apr 29
Toenec Corporation, Annual General Meeting, Jun 25, 2026 Toenec Corporation, Annual General Meeting, Jun 25, 2026. Announcement • Apr 21
Toenec Corporation to Report Fiscal Year 2026 Results on Apr 28, 2026 Toenec Corporation announced that they will report fiscal year 2026 results on Apr 28, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 34% 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 (2.4%). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,006, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Construction industry in Japan. Total returns to shareholders of 229% over the past three years. Buy Or Sell Opportunity • Mar 04
Now 23% undervalued Over the last 90 days, the stock has risen 16% to JP¥2,129. The fair value is estimated to be JP¥2,760, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: JP¥39.93 (vs JP¥34.36 in 3Q 2025) Third quarter 2026 results: EPS: JP¥39.93 (up from JP¥34.36 in 3Q 2025). Revenue: JP¥67.4b (down 5.7% from 3Q 2025). Net income: JP¥3.71b (up 16% from 3Q 2025). Profit margin: 5.5% (up from 4.5% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 29
First half dividend of JP¥37.00 announced Shareholders will receive a dividend of JP¥37.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (45% 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 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Nov 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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 (7.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥55.59 (vs JP¥10.15 in 2Q 2025) Second quarter 2026 results: EPS: JP¥55.59 (up from JP¥10.15 in 2Q 2025). Revenue: JP¥63.6b (down 5.0% from 2Q 2025). Net income: JP¥5.16b (up 446% from 2Q 2025). Profit margin: 8.1% (up from 1.4% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Oct 29
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 6.8% 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 (6.8% average weekly change). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,771, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 13x in the Construction industry in Japan. Total returns to shareholders of 187% over the past three years. Announcement • Sep 30
Toenec Corporation to Report Q2, 2026 Results on Oct 28, 2025 Toenec Corporation announced that they will report Q2, 2026 results on Oct 28, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥22.15 (vs JP¥20.50 in 1Q 2025) First quarter 2026 results: EPS: JP¥22.15 (up from JP¥20.50 in 1Q 2025). Revenue: JP¥61.2b (up 2.0% from 1Q 2025). Net income: JP¥2.06b (up 7.3% from 1Q 2025). Profit margin: 3.4% (up from 3.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (38% 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 3.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 03
Toenec Corporation to Report Q1, 2026 Results on Jul 29, 2025 Toenec Corporation announced that they will report Q1, 2026 results on Jul 29, 2025 Reported Earnings • Jul 01
Full year 2025 earnings released: EPS: JP¥116 (vs JP¥99.96 in FY 2024) Full year 2025 results: EPS: JP¥116 (up from JP¥99.96 in FY 2024). Revenue: JP¥271.0b (up 7.2% from FY 2024). Net income: JP¥10.8b (up 15% from FY 2024). Profit margin: 4.0% (up from 3.7% 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 45% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: JP¥116 (vs JP¥99.96 in FY 2024) Full year 2025 results: EPS: JP¥116 (up from JP¥99.96 in FY 2024). Revenue: JP¥271.0b (up 7.2% from FY 2024). Net income: JP¥10.8b (up 15% from FY 2024). Profit margin: 4.0% (up from 3.7% 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 45% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 28
Toenec Corporation, Annual General Meeting, Jun 26, 2025 Toenec Corporation, Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.3%). Announcement • Mar 06
Toenec Corporation to Report Fiscal Year 2025 Results on Apr 28, 2025 Toenec Corporation announced that they will report fiscal year 2025 results on Apr 28, 2025 Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: JP¥34.38 (vs JP¥13.74 in 3Q 2024) Third quarter 2025 results: EPS: JP¥34.38 (up from JP¥13.74 in 3Q 2024). Revenue: JP¥71.5b (up 16% from 3Q 2024). Net income: JP¥3.19b (up 148% from 3Q 2024). Profit margin: 4.5% (up from 2.1% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Dec 14
Toenec Corporation to Report Q3, 2025 Results on Feb 03, 2025 Toenec Corporation announced that they will report Q3, 2025 results on Feb 03, 2025 Declared Dividend • Nov 30
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 13%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 79% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.8% EPS decline seen over the last 5 years. Reported Earnings • Oct 31
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: JP¥66.9b (up 6.9% from 2Q 2024). Net income: JP¥948.0m (down 60% from 2Q 2024). Profit margin: 1.4% (down from 3.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Sep 21
Toenec Corporation to Report Q2, 2025 Results on Oct 29, 2024 Toenec Corporation announced that they will report Q2, 2025 results on Oct 29, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.3%). New Risk • Aug 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. 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 (7.1% average weekly change). Large one-off items impacting financial results. Declared Dividend • Jul 25
Final dividend of JP¥100.00 announced Shareholders will receive a dividend of JP¥100.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.0% 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 • Jul 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥5,010, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 12x in the Construction industry in Japan. Total returns to shareholders of 47% over the past three years. New Risk • Jul 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.3% average weekly change). Earnings have declined by 22% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jul 04
Toenec Corporation to Report Q1, 2025 Results on Jul 31, 2024 Toenec Corporation announced that they will report Q1, 2025 results on Jul 31, 2024 Announcement • Jul 02
Toenec Corporation (TSE:1946) announces an Equity Buyback for 140,000 shares, representing 0.75% for ¥1,000 million. Toenec Corporation (TSE:1946) announces a share repurchase program. Under the program, the company will repurchase up to 140,000 shares, representing 0.75% of its issued share capital (excluding treasury stock), for ¥1,000 million. The purpose of the program is to strengthen shareholder returns and improve capital efficiency and to mitigate the impact on the supply and demand of the company's shares. The program will run until March 24, 2025. As of May 31, 2024, the company had 18,699,218 shares in issue (excluding treasury stock) and 630,772 shares in treasury. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥5,880, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 12x in the Construction industry in Japan. Total returns to shareholders of 75% over the past three years. Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: JP¥500 (vs JP¥297 loss in FY 2023) Full year 2024 results: EPS: JP¥500 (up from JP¥297 loss in FY 2023). Revenue: JP¥252.9b (up 9.0% from FY 2023). Net income: JP¥9.35b (up JP¥14.9b from FY 2023). Profit margin: 3.7% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Apr 28
Toenec Corporation, Annual General Meeting, Jun 26, 2024 Toenec Corporation, Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.7%). Announcement • Mar 13
Toenec Corporation to Report Fiscal Year 2024 Results on Apr 26, 2024 Toenec Corporation announced that they will report fiscal year 2024 results on Apr 26, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥68.72 (vs JP¥36.38 in 3Q 2023) Third quarter 2024 results: EPS: JP¥68.72 (up from JP¥36.38 in 3Q 2023). Revenue: JP¥61.9b (up 11% from 3Q 2023). Net income: JP¥1.29b (up 89% from 3Q 2023). Profit margin: 2.1% (up from 1.2% 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 55% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Feb 01
Toenec Corporation Provides Year End Dividend Guidance for the Year Ending March 31, 2024 Toenec Corporation expects to pay year-end dividend of JPY 120.00 per share for the year ending March 31, 2024 compared to JPY 50.00 per share paid a year ago. Announcement • Dec 24
Toenec Corporation to Report Q3, 2024 Results on Jan 31, 2024 Toenec Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: JP¥126 (vs JP¥455 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥126 (up from JP¥455 loss in 2Q 2023). Revenue: JP¥62.6b (up 13% from 2Q 2023). Net income: JP¥2.35b (up JP¥10.9b from 2Q 2023). Profit margin: 3.8% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Buying Opportunity • Oct 03
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be JP¥5,186, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 22
Toenec Corporation to Report Q2, 2024 Results on Oct 27, 2023 Toenec Corporation announced that they will report Q2, 2024 results on Oct 27, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥60.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.0%). Reported Earnings • Jul 29
First quarter 2024 earnings released: EPS: JP¥91.95 (vs JP¥73.63 in 1Q 2023) First quarter 2024 results: EPS: JP¥91.95 (up from JP¥73.63 in 1Q 2023). Revenue: JP¥58.0b (up 11% from 1Q 2023). Net income: JP¥1.72b (up 25% from 1Q 2023). Profit margin: 3.0% (up from 2.6% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Jun 24
Toenec Corporation to Report Q1, 2024 Results on Jul 28, 2023 Toenec Corporation announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: JP¥297 loss per share (vs JP¥443 profit in FY 2022) Full year 2023 results: JP¥297 loss per share (down from JP¥443 profit in FY 2022). Revenue: JP¥232.1b (up 5.7% from FY 2022). Net loss: JP¥5.55b (down 167% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥95.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.6%). Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥36.37 (vs JP¥127 in 3Q 2022) Third quarter 2023 results: EPS: JP¥36.37 (down from JP¥127 in 3Q 2022). Revenue: JP¥55.6b (up 2.4% from 3Q 2022). Net income: JP¥680.0m (down 71% from 3Q 2022). Profit margin: 1.2% (down from 4.4% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 30
Second quarter 2023 earnings released: JP¥455 loss per share (vs JP¥82.46 profit in 2Q 2022) Second quarter 2023 results: JP¥455 loss per share (down from JP¥82.46 profit in 2Q 2022). Revenue: JP¥55.3b (up 8.5% from 2Q 2022). Net loss: JP¥8.51b (down JP¥10.1b from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.5%). Announcement • Aug 10
Toenec Corporation to Report Q2, 2023 Results on Oct 28, 2022 Toenec Corporation announced that they will report Q2, 2023 results on Oct 28, 2022 Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥73.63 (vs JP¥79.46 in 1Q 2022) First quarter 2023 results: EPS: JP¥73.63 (down from JP¥79.46 in 1Q 2022). Revenue: JP¥52.3b (up 5.6% from 1Q 2022). Net income: JP¥1.38b (down 7.3% from 1Q 2022). Profit margin: 2.6% (down from 3.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jul 03
Toenec Corporation to Report Q1, 2023 Results on Jul 27, 2022 Toenec Corporation announced that they will report Q1, 2023 results on Jul 27, 2022 Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥443 (vs JP¥473 in FY 2021) Full year 2022 results: EPS: JP¥443 (down from JP¥473 in FY 2021). Revenue: JP¥219.6b (up 1.8% from FY 2021). Net income: JP¥8.28b (down 6.2% from FY 2021). Profit margin: 3.8% (down from 4.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Announcement • Apr 08
Toenec Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022 Toenec Corporation announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (3.1%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥127 (down from JP¥134 in 3Q 2021). Revenue: JP¥54.3b (up 5.5% from 3Q 2021). Net income: JP¥2.38b (down 5.3% from 3Q 2021). Profit margin: 4.4% (down from 4.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥82.45 (vs JP¥140 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥51.0b (down 4.0% from 2Q 2021). Net income: JP¥1.54b (down 41% from 2Q 2021). Profit margin: 3.0% (down from 4.9% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 3.1%. Within top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (3.0%). Reported Earnings • Aug 02
First quarter 2022 earnings released: EPS JP¥79.46 (vs JP¥80.04 in 1Q 2021) The company reported a mediocre first quarter result with flat earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥49.5b (flat on 1Q 2021). Net income: JP¥1.49b (flat on 1Q 2021). Profit margin: 3.0% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 30
Full year 2021 earnings released: EPS JP¥473 (vs JP¥498 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¥215.7b (down 4.1% from FY 2020). Net income: JP¥8.83b (down 5.2% from FY 2020). Profit margin: 4.1% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.8%. Within top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (2.6%). Announcement • Mar 11
Toenec Corporation to Report Q1, 2022 Results on Jul 30, 2021 Toenec Corporation announced that they will report Q1, 2022 results on Jul 30, 2021 Announcement • Mar 04
Toenec Corporation to Report Fiscal Year 2021 Results on Apr 28, 2021 Toenec Corporation announced that they will report fiscal year 2021 results on Apr 28, 2021