Announcement • Jun 03
Toyo Seikan Group Holdings, Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Toyo Seikan Group Holdings, Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Buy Or Sell Opportunity • May 22
Now 20% undervalued Over the last 90 days, the stock has risen 2.7% to JP¥4,020. The fair value is estimated to be JP¥5,044, 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. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to JP¥4,351, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 9x in the Packaging industry in Japan. Total returns to shareholders of 129% over the past three years. Reported Earnings • May 17
Full year 2026 earnings released: EPS: JP¥362 (vs JP¥134 in FY 2025) Full year 2026 results: EPS: JP¥362 (up from JP¥134 in FY 2025). Revenue: JP¥963.2b (up 4.4% from FY 2025). Net income: JP¥55.0b (up 146% from FY 2025). Profit margin: 5.7% (up from 2.4% in FY 2025). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Live News • May 17
Toyo Seikan Sets Ambitious 2030 Targets For Profitability And Sustainable Product Growth Toyo Seikan Group Holdings is targeting an ROE of over 8% by FY2030 as part of its long-term management goals.
The company is aiming for EBITDA of ¥130b by FY2030, supported by a planned ¥350b investment program focused on growth areas, efficiency gains, and digital transformation.
Management also plans for certified sustainable products to account for 50% of total sales by FY2030.
These goals point to a clear push toward higher profitability metrics, larger-scale operations, and a bigger role for products that meet defined sustainability criteria.
For investors, the key questions are how efficiently the planned ¥350b in spending will be deployed and how quickly the product mix can shift toward the 50% sustainable sales target without pressuring margins. Announcement • May 14
Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 26, 2026 Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 26, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥57.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.1%). New Risk • Mar 18
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 186x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 186x increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 64x cash flows per share). Large one-off items impacting financial results. Announcement • Mar 03
Toyo Seikan Group Holdings, Ltd. to Report Fiscal Year 2026 Results on May 14, 2026 Toyo Seikan Group Holdings, Ltd. announced that they will report fiscal year 2026 results on May 14, 2026 Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥94.40 (vs JP¥78.30 in 3Q 2025) Third quarter 2026 results: EPS: JP¥94.40 (up from JP¥78.30 in 3Q 2025). Revenue: JP¥237.2b (up 1.2% from 3Q 2025). Net income: JP¥14.2b (up 10% from 3Q 2025). Profit margin: 6.0% (up from 5.5% in 3Q 2025). 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 34% per year, which means it is significantly lagging earnings growth. Announcement • Dec 02
Toyo Seikan Group Holdings, Ltd. to Report Q3, 2026 Results on Feb 10, 2026 Toyo Seikan Group Holdings, Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Declared Dividend • Dec 02
First half dividend of JP¥57.00 announced Shareholders will receive a dividend of JP¥57.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 58% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥116 (vs JP¥5.87 in 2Q 2025) Second quarter 2026 results: EPS: JP¥116 (up from JP¥5.87 in 2Q 2025). Revenue: JP¥244.2b (up 4.1% from 2Q 2025). Net income: JP¥17.6b (up JP¥16.6b from 2Q 2025). Profit margin: 7.2% (up from 0.4% in 2Q 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥57.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.0%). Announcement • Sep 01
Toyo Seikan Group Holdings, Ltd. to Report Q2, 2026 Results on Nov 07, 2025 Toyo Seikan Group Holdings, Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥106 (vs JP¥65.23 in 1Q 2025) First quarter 2026 results: EPS: JP¥106 (up from JP¥65.23 in 1Q 2025). Revenue: JP¥240.1b (up 4.5% from 1Q 2025). Net income: JP¥16.5b (up 46% from 1Q 2025). Profit margin: 6.9% (up from 4.9% in 1Q 2025). The increase in margin was driven by higher revenue. 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 29% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥57.00 announced Shareholders will receive a dividend of JP¥57.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 03
Kewpie Corporation (TSE:2809) proposed to acquire remaining 55.38% stake in AOHATA Corporation (TSE:2830) from group of shareholders for ¥14.7 billion. Kewpie Corporation (TSE:2809) proposed to acquire remaining 55.38% stake in AOHATA Corporation (TSE:2830) from group of shareholders for ¥14.7 billion on March 25, 2025. Kewpie Corporation executed Share Exchange Agreement to acquire remaining 55.38% stake in AOHATA Corporation on July 3, 2025. As part of consideration Kewpie will issue of 4.15 million common equity of Kewpie Corporation at a ratio of 0.91 per common equity of AOHATA Corporation. In a separate transaction, Kewpie Corporation plans to buyback 9.6 million of its own shares for ¥24 billion. As a result of the Share Exchange, AOHATA will become a wholly owned subsidiary of Kewpie and AOHATA Shares are scheduled to be delisted as of October 30, 2025 (with a final trading date of October 29, 2025).
The transaction is subject to extraordinary general meeting of shareholders of AOHATA, scheduled to be held on September 25, 2025. The Board of Directors of AOHATA has formed a special committee composed of three independent members, Haruhiko Tsunokawa and Yoko Ishino, Outside Directors of AOHATA, and Sayaka Hieda (attorney-at-law), Outside Corporate Auditor of AOHATA to review the acquisition. The expected completion of the transaction is November 1, 2025.
Nagashima Ohno & Tsunematsu acted as legal advisor to Kewpie Corporation. Sueyoshi & Sato acted as legal advisor to AOHATA Corporation. Shiomizaka acted as legal advisor to AOHATA Corporation. Daiwa Securities Co. Ltd. acted as Fairness opinion provider to Kewpie Corporation. Plutus Consulting Co., Ltd. acted as financial advisor and Fairness opinion provider to AOHATA Corporation. Reported Earnings • Jun 24
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥134. Revenue: JP¥922.5b (down 3.0% from FY 2024). Net income: JP¥22.4b (down 3.0% from FY 2024). Profit margin: 2.4% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Announcement • May 31
Toyo Seikan Group Holdings, Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Toyo Seikan Group Holdings, Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥134. Revenue: JP¥922.5b (down 3.0% from FY 2024). Net income: JP¥22.4b (down 3.0% from FY 2024). Profit margin: 2.4% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Packaging industry in Japan. Announcement • May 14
Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 20, 2025 Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 20, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.1%). Announcement • Mar 05
Toyo Seikan Group Holdings, Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Toyo Seikan Group Holdings, Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Announcement • Feb 28
Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces an Equity Buyback for 16,000,000 shares, representing 9.92% for ¥30,000 million. Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces a share repurchase program. Under the program, the company will repurchase up to 16,000,000 shares, representing 9.92% of its issued share capital for ¥30,000 million. The purpose of the program is to maximize corporate value by improving our assets and financial health and capital efficiency for future growth investments. The program is valid till February 27, 2026. As of February 28, 2025, the company had 161,294,233 shares issued (excluding treasury stock) and 14,567,929 shares in treasury. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: JP¥78.30 (vs JP¥53.88 in 3Q 2024) Third quarter 2025 results: EPS: JP¥78.30 (up from JP¥53.88 in 3Q 2024). Revenue: JP¥234.4b (down 3.1% from 3Q 2024). Net income: JP¥12.9b (up 37% from 3Q 2024). Profit margin: 5.5% (up from 3.9% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Dec 11
Toyo Seikan Group Holdings, Ltd. to Report Q3, 2025 Results on Feb 06, 2025 Toyo Seikan Group Holdings, Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025 Declared Dividend • Dec 03
First half dividend of JP¥46.00 announced Shareholders will receive a dividend of JP¥46.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (25% 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. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥5.87 (vs JP¥35.37 in 2Q 2024) Second quarter 2025 results: EPS: JP¥5.87 (down from JP¥35.37 in 2Q 2024). Revenue: JP¥234.5b (flat on 2Q 2024). Net income: JP¥998.0m (down 84% from 2Q 2024). Profit margin: 0.4% (down from 2.7% in 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 2.3% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.1%). Announcement • Aug 27
Toyo Seikan Group Holdings, Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Toyo Seikan Group Holdings, Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥65.23 (vs JP¥46.56 in 1Q 2024) First quarter 2025 results: EPS: JP¥65.23 (up from JP¥46.56 in 1Q 2024). Revenue: JP¥229.9b (down 2.3% from 1Q 2024). Net income: JP¥11.3b (up 34% from 1Q 2024). Profit margin: 4.9% (up from 3.6% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,029, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 9x in the Packaging industry in Japan. Total returns to shareholders of 53% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (108% earnings payout ratio) nor is it covered by cash flows (147% 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. The company's earnings per share (EPS) would need to grow by 20% to bring the payout ratio under control, which is more than the 5.2% EPS growth achieved over the last 5 years. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥130 (vs JP¥57.07 in FY 2023) Full year 2024 results: EPS: JP¥130 (up from JP¥57.07 in FY 2023). Revenue: JP¥950.7b (up 4.9% from FY 2023). Net income: JP¥23.1b (up 123% from FY 2023). Profit margin: 2.4% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Jun 02
Toyo Seikan Group Holdings, Ltd. to Report Q1, 2025 Results on Aug 02, 2024 Toyo Seikan Group Holdings, Ltd. announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥130 (vs JP¥57.07 in FY 2023) Full year 2024 results: EPS: JP¥130 (up from JP¥57.07 in FY 2023). Revenue: JP¥950.7b (up 4.9% from FY 2023). Net income: JP¥23.1b (up 123% from FY 2023). Profit margin: 2.4% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • May 16
Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 21, 2024 Toyo Seikan Group Holdings, Ltd., Annual General Meeting, Jun 21, 2024. Announcement • May 15
Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces an Equity Buyback for 17,000,000 shares, representing 9.77% for ¥30,000 million. Toyo Seikan Group Holdings, Ltd. (TSE:5901) announces a share repurchase program. Under the program, the company will repurchase up to 17,000,000 shares, representing 9.77% of its issued share capital for ¥30,000 million. The purpose of the program is to maximize corporate value by improving our assets and financial health and capital efficiency for future growth investments. The program is valid till March 31, 2025. As of March 31, 2024, the company had 174,057,883 shares issued (excluding treasury stock) and 1,804,279 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.7%). Announcement • Mar 02
Toyo Seikan Group Holdings, Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Toyo Seikan Group Holdings, Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Announcement • Mar 01
Toyo Seikan Group Holdings, Ltd. (TSE:5901) agreed to acquire Premier Centre Group Sdn. Bhd. from Advantage Partners Asia Fund, L.P. managed by Advantage Partners, Inc. and others for $75 million. Toyo Seikan Group Holdings, Ltd. (TSE:5901) agreed to acquire Premier Centre Group Sdn. Bhd. from Advantage Partners Asia Fund, L.P. managed by Advantage Partners, Inc. and others for $75 million on February 29, 2024. The consideration consists of $75 million in cash. As part of the consideration, $75 million was paid towards common equity. The transaction is expected to complete in April 2024. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥53.88 (vs JP¥0.50 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥53.88 (up from JP¥0.50 loss in 3Q 2023). Revenue: JP¥241.8b (up 7.1% from 3Q 2023). Net income: JP¥9.39b (up JP¥9.48b from 3Q 2023). Profit margin: 3.9% (up from 0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Dec 01
Toyo Seikan Group Holdings, Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Toyo Seikan Group Holdings, Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: JP¥35.37 (vs JP¥7.76 in 2Q 2023) Second quarter 2024 results: EPS: JP¥35.37 (up from JP¥7.76 in 2Q 2023). Revenue: JP¥236.6b (up 5.1% from 2Q 2023). Net income: JP¥6.37b (up 352% from 2Q 2023). Profit margin: 2.7% (up from 0.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Packaging industry in Japan. 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 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥45.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.7%). Announcement • Aug 30
Toyo Seikan Group Holdings, Ltd. to Report Q2, 2024 Results on Nov 06, 2023 Toyo Seikan Group Holdings, Ltd. announced that they will report Q2, 2024 results on Nov 06, 2023 Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥46.56 (vs JP¥60.92 in 1Q 2023) First quarter 2024 results: EPS: JP¥46.56 (down from JP¥60.92 in 1Q 2023). Revenue: JP¥235.3b (up 4.3% from 1Q 2023). Net income: JP¥8.45b (down 24% from 1Q 2023). Profit margin: 3.6% (down from 4.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jun 09
Consensus EPS estimates fall by 27%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥951.0b to JP¥970.0b. EPS estimate fell from JP¥153 to JP¥111 per share. Net income forecast to grow 94% next year vs 6.7% growth forecast for Packaging industry in Japan. Consensus price target of JP¥2,400 unchanged from last update. Share price was steady at JP¥2,097 over the past week. Announcement • May 28
Toyo Seikan Group Holdings, Ltd. to Report Q1, 2024 Results on Aug 03, 2023 Toyo Seikan Group Holdings, Ltd. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 15
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥57.07 (down from JP¥241 in FY 2022). Revenue: JP¥906.0b (up 10% from FY 2022). Net income: JP¥10.4b (down 77% from FY 2022). Profit margin: 1.1% (down from 5.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Packaging industry in Japan. 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 25% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: JP¥0.50 loss per share (vs JP¥50.29 profit in 3Q 2022) Third quarter 2023 results: JP¥0.50 loss per share (down from JP¥50.29 profit in 3Q 2022). Revenue: JP¥225.6b (up 9.7% from 3Q 2022). Net loss: JP¥91.0m (down 101% from profit in 3Q 2022). Profit margin: 0% (down from 4.5% in 3Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Toyo Seikan Group Holdings, Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Toyo Seikan Group Holdings, Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥7.76 (vs JP¥59.32 in 2Q 2022) Second quarter 2023 results: EPS: JP¥7.76 (down from JP¥59.32 in 2Q 2022). Revenue: JP¥225.2b (up 7.4% from 2Q 2022). Net income: JP¥1.41b (down 87% from 2Q 2022). Profit margin: 0.6% (down from 5.3% in 2Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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. 6 non-independent directors. Independent Outside Director Terry Koike 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. Buying Opportunity • Nov 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.9%. The fair value is estimated to be JP¥1,913, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 71%. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to grow by 8.0% in the next 2 years. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥7.76 (vs JP¥59.32 in 2Q 2022) Second quarter 2023 results: EPS: JP¥7.76 (down from JP¥59.32 in 2Q 2022). Revenue: JP¥225.2b (up 7.4% from 2Q 2022). Net income: JP¥1.41b (down 87% from 2Q 2022). Profit margin: 0.6% (down from 5.3% in 2Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Packaging industry in Japan. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.1%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥60.92 (vs JP¥64.54 in 1Q 2022) First quarter 2023 results: EPS: JP¥60.92 (down from JP¥64.54 in 1Q 2022). Revenue: JP¥225.6b (up 13% from 1Q 2022). Net income: JP¥11.1b (down 8.9% from 1Q 2022). Profit margin: 4.9% (down from 6.1% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥241 (vs JP¥84.79 in FY 2021) Full year 2022 results: EPS: JP¥241 (up from JP¥84.79 in FY 2021). Revenue: JP¥821.6b (up 9.7% from FY 2021). Net income: JP¥44.4b (up 179% from FY 2021). Profit margin: 5.4% (up from 2.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (3.2%). Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥50.29 (up from JP¥24.76 in 3Q 2021). Revenue: JP¥205.6b (up 11% from 3Q 2021). Net income: JP¥9.16b (up 97% from 3Q 2021). Profit margin: 4.5% (up from 2.5% 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 77% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥59.31 (vs JP¥17.86 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥209.7b (up 13% from 2Q 2021). Net income: JP¥11.1b (up 230% from 2Q 2021). Profit margin: 5.3% (up from 1.8% 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 87% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.2%). Reported Earnings • Aug 04
First quarter 2022 earnings released: EPS JP¥64.54 (vs JP¥16.98 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥199.9b (up 6.0% from 1Q 2021). Net income: JP¥12.1b (up 280% from 1Q 2021). Profit margin: 6.1% (up from 1.7% 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 92% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.