Announcement • May 21
Giken Ltd. to Report Q3, 2026 Results on Jul 10, 2026 Giken Ltd. announced that they will report Q3, 2026 results on Jul 10, 2026 Declared Dividend • May 09
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 28th August 2026 Payment date: 30th November 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 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 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Reported Earnings • Apr 11
Second quarter 2026 earnings released: EPS: JP¥7.96 (vs JP¥20.98 in 2Q 2025) Second quarter 2026 results: EPS: JP¥7.96 (down from JP¥20.98 in 2Q 2025). Revenue: JP¥6.53b (up 3.7% from 2Q 2025). Net income: JP¥202.0m (down 64% from 2Q 2025). Profit margin: 3.1% (down from 8.9% in 2Q 2025). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Announcement • Apr 03
Giken Ltd. to Report Q2, 2026 Results on Apr 10, 2026 Giken Ltd. announced that they will report Q2, 2026 results on Apr 10, 2026 Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,111, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Machinery industry in Japan. Total loss to shareholders of 20% over the past three years. New Risk • Feb 26
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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Upcoming Dividend • Feb 19
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 08 May 2026. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Jan 10
First quarter 2026 earnings released: EPS: JP¥37.32 (vs JP¥13.67 in 1Q 2025) First quarter 2026 results: EPS: JP¥37.32 (up from JP¥13.67 in 1Q 2025). Revenue: JP¥7.56b (up 37% from 1Q 2025). Net income: JP¥978.0m (up 167% from 1Q 2025). Profit margin: 13% (up from 6.6% in 1Q 2025). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. Announcement • Jan 09
Giken Ltd. Provides Consolidated Earnings Guidance for the First Half and Full Year of Fiscal Year Ending August 31, 2026 Giken Ltd. provided consolidated earnings guidance for the first half and full year of fiscal year ending August 31, 2026. For the first half, the company expects net sales of JPY 13,500 million, operating profit of JPY 1,350 million and profit attributable to owners of parent of JPY 1,000 million or JPY 39.47 per share.
For the full year, the company expects net sales of JPY 27,800 million, operating profit of JPY 2,900 million and profit attributable to owners of parent of JPY 2,200 million or JPY 86.82 per share. Declared Dividend • Dec 11
Final dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 26th February 2026 Payment date: 8th May 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (176% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.7% 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 95% to bring the payout ratio under control. EPS is expected to grow by 57% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,971, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Machinery industry in Japan. Total loss to shareholders of 31% over the past three years. New Risk • Nov 27
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 5.5% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Announcement • Nov 26
Giken Ltd. to Report Q1, 2026 Results on Jan 09, 2026 Giken Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026 Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,610, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 14x in the Machinery industry in Japan. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥742 per share. Reported Earnings • Oct 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥55.72 (down from JP¥90.98 in FY 2024). Revenue: JP¥26.3b (down 11% from FY 2024). Net income: JP¥1.49b (down 39% from FY 2024). Profit margin: 5.6% (down from 8.3% in FY 2024). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 24% per year. Announcement • Aug 29
Giken Ltd. Announces Changes in Business Responsibilities of Operating Officers, Effective September 1, 2025 GIKEN LTD. announced changes in business responsibilities resolved at the Board of Directors meeting on August 29, 2025. Mika Maeda, Director and Executive Operating Officer, will now be responsible for the BX Promotion Department. Yusei Morino, Director and Executive Operating Officer, will oversee the Development & Manufacturing Headquarters and Press-in Technologies Research & Development Center, Current Business
Responsibility is Construction Solutions, Development Business, Press-in Method, Promotion Business, Press-in Technologies, Research & Development Center. Yoshihisa Fujisaki, Managing Operating Officer, will be responsible for the Administration Headquarters. Shigeki Fukumaru, Managing Operating Officer, will oversee the Press-in Method Promotion Business. Takuya Yamamoto, Managing Operating Officer, will be responsible for the Press-in Products Business. Yasunobu Yananose, Managing Operating Officer, will oversee the Global Strategy Headquarters. Miki Minoda, Managing Operating Officer, will be responsible for the Press-in Machine Business. These changes are effective September 1, 2025. Announcement • Aug 26
Giken Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025 Giken Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025 Upcoming Dividend • Aug 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 27 November 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Major Estimate Revision • Aug 06
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥25.8b to JP¥25.3b. EPS estimate also fell from JP¥54.24 per share to JP¥44.92 per share. Net income forecast to grow 152% next year vs 7.5% growth forecast for Machinery industry in Japan. Consensus price target up from JP¥1,400 to JP¥1,600. Share price rose 4.1% to JP¥1,484 over the past week. Reported Earnings • Jul 12
Third quarter 2025 earnings released: JP¥17.84 loss per share (vs JP¥13.79 profit in 3Q 2024) Third quarter 2025 results: JP¥17.84 loss per share (down from JP¥13.79 profit in 3Q 2024). Revenue: JP¥5.60b (down 15% from 3Q 2024). Net loss: JP¥477.0m (down 229% from profit in 3Q 2024). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 23% per year. Announcement • Jul 02
Giken Ltd. Revises Earnings Guidance for the Fiscal Year Ending August 31, 2025 Giken Ltd. revised earnings guidance for the fiscal year ending August 31, 2025. For the year, the company expects net sales of JPY 26,100 million, operating profit of JPY 2,300 million, Profit attributable to owners of parent of JPY 1,260 million against JPY 1,800 million as announced previously, profit per share of JPY 47.64 against JPY 68.06 as announced previously. Reasons for Revision: Due to the recording of extraordinary losses arising from the settlement with J Steel, profit attributable to owners of parent is expected to fall below the previously announced forecast. Accordingly, the company revised the full-year consolidated financial results forecasts for this fiscal year. Announcement • May 24
Giken Ltd. to Report Q3, 2025 Results on Jul 10, 2025 Giken Ltd. announced that they will report Q3, 2025 results on Jul 10, 2025 Declared Dividend • May 09
First half dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 28th August 2025 Payment date: 27th November 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 11
Now 24% overvalued Over the last 90 days, the stock has fallen 15% to JP¥1,442. The fair value is estimated to be JP¥1,158, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Announcement • Apr 11
Giken Ltd. (TSE:6289) announces an Equity Buyback for 450,000 shares, representing 1.68% for ¥500 million. Giken Ltd. (TSE:6289) announces a share repurchase program. Under the program, the company will repurchase up to 450,000 shares, representing 1.68% of its total shares outstanding (excluding treasury shares), for a total of ¥500 million. The purpose of repurchase program is to improve capital efficiency and enhance shareholder returns. The repurchase program is valid till July 31, 2025. As of February 28, 2025, the company had 26,794,307 shares outstanding (excluding treasury shares) and had 1,400,421 shares in treasury. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,167, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Machinery industry in Japan. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,176 per share. Major Estimate Revision • Apr 05
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥28.5b to JP¥26.0b. EPS estimate also fell from JP¥91.52 per share to JP¥63.51 per share. Net income forecast to shrink 5.5% next year vs 8.2% growth forecast for Machinery industry in Japan . Consensus price target down from JP¥2,100 to JP¥1,400. Share price fell 12% to JP¥1,276 over the past week. Price Target Changed • Apr 04
Price target decreased by 32% to JP¥1,400 Down from JP¥2,050, the current price target is provided by 1 analyst. New target price is 9.7% above last closing price of JP¥1,276. Stock is down 39% over the past year. The company is forecast to post earnings per share of JP¥63.51 for next year compared to JP¥90.97 last year. Announcement • Feb 26
Giken Ltd. to Report Q2, 2025 Results on Apr 10, 2025 Giken Ltd. announced that they will report Q2, 2025 results on Apr 10, 2025 Upcoming Dividend • Feb 20
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.3%). Buy Or Sell Opportunity • Jan 17
Now 22% overvalued Over the last 90 days, the stock has fallen 19% to JP¥1,489. The fair value is estimated to be JP¥1,223, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Reported Earnings • Jan 14
First quarter 2025 earnings released: EPS: JP¥13.67 (vs JP¥32.48 in 1Q 2024) First quarter 2025 results: EPS: JP¥13.67 (down from JP¥32.48 in 1Q 2024). Revenue: JP¥5.53b (down 25% from 1Q 2024). Net income: JP¥366.0m (down 58% from 1Q 2024). Profit margin: 6.6% (down from 12% in 1Q 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 25% per year. Declared Dividend • Dec 19
Final dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 27th February 2025 Payment date: 8th May 2025 Dividend yield will be 2.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 27
Giken Ltd. to Report Q1, 2025 Results on Jan 10, 2025 Giken Ltd. announced that they will report Q1, 2025 results on Jan 10, 2025 Reported Earnings • Oct 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥90.98 (up from JP¥30.79 in FY 2023). Revenue: JP¥29.5b (flat on FY 2023). Net income: JP¥2.44b (up 188% from FY 2023). Profit margin: 8.3% (up from 2.9% in FY 2023). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year and the company’s share price has also fallen by 24% per year. Announcement • Oct 11
Giken Ltd., Annual General Meeting, Nov 26, 2024 Giken Ltd., Annual General Meeting, Nov 26, 2024. Announcement • Aug 27
Giken Ltd. to Report Fiscal Year 2024 Results on Oct 11, 2024 Giken Ltd. announced that they will report fiscal year 2024 results on Oct 11, 2024 Upcoming Dividend • Aug 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,409, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Machinery industry in Japan. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,322 per share. Reported Earnings • Jul 12
Third quarter 2024 earnings released: EPS: JP¥13.79 (vs JP¥41.85 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥13.79 (up from JP¥41.85 loss in 3Q 2023). Revenue: JP¥6.60b (up 5.3% from 3Q 2023). Net income: JP¥369.0m (up JP¥1.52b from 3Q 2023). Profit margin: 5.6% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 24% per year. Buy Or Sell Opportunity • Jun 10
Now 23% overvalued Over the last 90 days, the stock has fallen 7.5% to JP¥1,885. The fair value is estimated to be JP¥1,538, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Announcement • May 27
Giken Ltd. to Report Q3, 2024 Results on Jul 10, 2024 Giken Ltd. announced that they will report Q3, 2024 results on Jul 10, 2024 Announcement • Apr 12
Giken Ltd. Announces Dividend for the End of the Second Quarter of the Fiscal Year Ending August 31, 2024, Payable on May 8, 2024; Provides Dividend Guidance for the Fiscal Year Ending August 31, 2024 Giken Ltd. announced dividend of JPY 20.00 per share for the end of the second quarter of the fiscal year ending August 31, 2024 against JPY 20.00 per share paid a year ago. Scheduled date to commence dividend payments is May 8, 2024.The company provided dividend guidance for the fiscal year ending August 31, 2024. For the year-end, the company expects to pay dividend of JPY 20.00 per share against JPY 20.00 per share paid a year ago. Declared Dividend • Apr 11
First half dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 29th August 2024 Payment date: 29th November 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (415% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 88% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 10
Second quarter 2024 earnings released: EPS: JP¥36.50 (vs JP¥23.89 in 2Q 2023) Second quarter 2024 results: EPS: JP¥36.50 (up from JP¥23.89 in 2Q 2023). Revenue: JP¥8.12b (up 8.9% from 2Q 2023). Net income: JP¥977.0m (up 49% from 2Q 2023). Profit margin: 12% (up from 8.8% in 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 23% per year. Announcement • Feb 28
Giken Ltd. to Report Q2, 2024 Results on Apr 09, 2024 Giken Ltd. announced that they will report Q2, 2024 results on Apr 09, 2024 Upcoming Dividend • Feb 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 09 May 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.0%). Reported Earnings • Jan 12
First quarter 2024 earnings released: EPS: JP¥32.48 (vs JP¥26.07 in 1Q 2023) First quarter 2024 results: EPS: JP¥32.48 (up from JP¥26.07 in 1Q 2023). Revenue: JP¥7.42b (flat on 1Q 2023). Net income: JP¥872.0m (up 22% from 1Q 2023). Profit margin: 12% (up from 9.6% in 1Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,231, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 12x in the Machinery industry in Japan. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,398 per share. Reported Earnings • Dec 05
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥30.79 (down from JP¥118 in FY 2022). Revenue: JP¥29.3b (down 3.6% from FY 2022). Net income: JP¥846.0m (down 74% from FY 2022). Profit margin: 2.9% (down from 11% in FY 2022). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 66%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Dec 02
Giken Ltd. to Report Q1, 2024 Results on Jan 10, 2024 Giken Ltd. announced that they will report Q1, 2024 results on Jan 10, 2024 Announcement • Oct 13
Giken Ltd., Annual General Meeting, Nov 28, 2023 Giken Ltd., Annual General Meeting, Nov 28, 2023. Reported Earnings • Oct 12
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥30.79 (down from JP¥118 in FY 2022). Revenue: JP¥29.3b (down 3.6% from FY 2022). Net income: JP¥846.0m (down 74% from FY 2022). Profit margin: 2.9% (down from 11% in FY 2022). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 66%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Aug 31
Giken Ltd. to Report Fiscal Year 2023 Results on Oct 11, 2023 Giken Ltd. announced that they will report fiscal year 2023 results on Oct 11, 2023 Upcoming Dividend • Aug 23
Upcoming dividend of JP¥20.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 24 November 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (2.3%). Price Target Changed • Aug 22
Price target decreased by 25% to JP¥1,950 Down from JP¥2,600, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥1,979. Stock is down 41% over the past year. The company is forecast to post earnings per share of JP¥18.55 for next year compared to JP¥118 last year. Major Estimate Revision • Aug 20
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥23.60 to JP¥18.55 per share. Revenue forecast steady at JP¥28.3b. Net income forecast to grow 86% next year vs 5.1% growth forecast for Machinery industry in Japan. Consensus price target broadly unchanged at JP¥2,567. Share price fell 4.7% to JP¥1,973 over the past week. Announcement • Aug 01
Giken Ltd. Provides Earnings Guidance for the Fiscal Year Ending August 31, 2023 Giken Ltd. provided earnings guidance for the Fiscal Year Ending August 31, 2023. For the year, the company expects Net sales to be JPY 28,400 million. Operating profit to be JPY 3,200 million. Profit attributable owners of parent to be JPY 670 million. Profit per share to be 24.36 per share. Announcement • Jul 23
Giken Ltd. (TSE:6289) announces an Equity Buyback for 800,000 shares, representing 2.91% for ¥1,500 million. Giken Ltd. (TSE:6289) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares, representing 2.91% of its total shares outstanding (excluding treasury shares), for a total of ¥1,500 million. The purpose of repurchase program is to enhance shareholder returns, improve capital efficiency. The repurchase program is valid till November 22, 2023. As of May 31, 2023, the company had 27,501,610 shares outstanding (excluding treasury shares) and had 693,118 shares in treasury. New Risk • Jul 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Jul 08
Third quarter 2023 earnings released: JP¥41.85 loss per share (vs JP¥11.16 profit in 3Q 2022) Third quarter 2023 results: JP¥41.85 loss per share (down from JP¥11.16 profit in 3Q 2022). Revenue: JP¥6.26b (down 4.4% from 3Q 2022). Net loss: JP¥1.15b (down 475% from profit in 3Q 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • May 27
Giken Ltd. to Report Q3, 2023 Results on Jul 07, 2023 Giken Ltd. announced that they will report Q3, 2023 results on Jul 07, 2023 Major Estimate Revision • May 19
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥87.49 to JP¥77.39 per share. Revenue forecast steady at JP¥29.2b. Net income forecast to shrink 13% next year vs 4.9% growth forecast for Machinery industry in Japan . Consensus price target down from JP¥3,000 to JP¥2,600. Share price was steady at JP¥2,111 over the past week. Reported Earnings • Apr 08
Second quarter 2023 earnings: Revenues and EPS in line with analyst expectations Second quarter 2023 results: EPS: JP¥23.89 (down from JP¥35.34 in 2Q 2022). Revenue: JP¥7.45b (up 5.6% from 2Q 2022). Net income: JP¥657.0m (down 32% from 2Q 2022). Profit margin: 8.8% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥31.9b to JP¥29.4b. EPS estimate also fell from JP¥129 per share to JP¥108 per share. Net income forecast to grow 4.4% next year vs 4.2% growth forecast for Machinery industry in Japan. Consensus price target down from JP¥3,867 to JP¥3,233. Share price fell 7.7% to JP¥2,562 over the past week. Price Target Changed • Apr 06
Price target decreased by 18% to JP¥3,233 Down from JP¥3,933, the current price target is an average from 3 analysts. New target price is 27% above last closing price of JP¥2,537. Stock is down 30% over the past year. The company is forecast to post earnings per share of JP¥129 for next year compared to JP¥118 last year. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥35.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Reported Earnings • Jan 12
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: EPS: JP¥26.07 (down from JP¥33.54 in 1Q 2022). Revenue: JP¥7.48b (up 4.5% from 1Q 2022). Net income: JP¥717.0m (down 22% from 1Q 2022). Profit margin: 9.6% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Price Target Changed • Jan 10
Price target decreased to JP¥3,933 Down from JP¥4,250, the current price target is an average from 3 analysts. New target price is 37% above last closing price of JP¥2,869. Stock is down 29% over the past year. The company is forecast to post earnings per share of JP¥131 for next year compared to JP¥118 last year. Price Target Changed • Dec 05
Price target decreased to JP¥4,000 Down from JP¥4,550, the current price target is an average from 2 analysts. New target price is 25% above last closing price of JP¥3,190. Stock is down 26% over the past year. The company is forecast to post earnings per share of JP¥130 for next year compared to JP¥118 last year. Announcement • Nov 27
Giken Ltd. to Report Q1, 2023 Results on Jan 11, 2023 Giken Ltd. announced that they will report Q1, 2023 results on Jan 11, 2023 
