Announcement • Apr 02
Sanyo Special Steel Co., Ltd. to Delist from Prime Section of the Tokyo Stock Exchange, Effective April 23, 2025 Sanyo Special Steel Co., Ltd. will be delisted from Prime Section of the Tokyo Stock Exchange effective from April 23, 2025, due to Acquisition by a demand for share, etc. cash-out. Announcement • Mar 20
Nippon Steel Corporation (TSE:5401) completed the acquisition of remaining 46.92% stake in Sanyo Special Steel Co., Ltd. (TSE:5481). Nippon Steel Corporation (TSE:5401) proposed to acquire remaining 46.92% stake in Sanyo Special Steel Co., Ltd. (TSE:5481) for ¥70.5 billion on January 31, 2025. A cash consideration valued at ¥2750 per share will be paid by Nippon Steel Corporation. As part of consideration, ¥70.45 billion is paid towards common equity of Sanyo Special Steel Co., Ltd. Upon completion, Nippon Steel Corporation will own 100% stake in Sanyo Special Steel Co., Ltd. directly and indirectly. The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by target shareholders, consummation of due diligence investigation and minimum tender. The Board of Directors of Sanyo Special Steel Co., Ltd. formed a special committee for the transaction. The offeror plans to implement squeeze out procedures. As of February 28, 2025, Sanyo Special Steel Co., Ltd. at a meeting of the board of directors, adopted a resolution to set the record date for the convocation of an extraordinary general shareholders’ meeting in preparation for holding the Extraordinary General Shareholders’ Meeting in late May 2025. The date and place of the Extraordinary General Shareholders’ Meeting, and the details of the agenda for the Extraordinary General Shareholders’ Meeting will be announced by the Company once they have been determined. The expected closing is March 18, 2025.
SMBC Nikko Securities Inc. acted as financial advisor for Sanyo Special Steel Co., Ltd. SMBC Nikko Securities Inc. acted as fairness opinion provider for Sanyo Special Steel Co., Ltd. Daiwa Securities Co. Ltd. acted as financial advisor for Nippon Steel Corporation. Nishimura & Asahi acted as legal advisor for Nippon Steel Corporation. Mori Hamada & Matsumoto LPC acted as legal advisor for Sanyo Special Steel Co., Ltd.
Nippon Steel Corporation (TSE:5401) completed the acquisition of remaining 46.92% stake in Sanyo Special Steel Co., Ltd. (TSE:5481) on March 18, 2025. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to JP¥2,748, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 35% over the past three years. Price Target Changed • Feb 04
Price target decreased by 17% to JP¥2,200 Down from JP¥2,650, the current price target is provided by 1 analyst. New target price is 20% below last closing price of JP¥2,750. Stock is up 28% over the past year. The company is forecast to post earnings per share of JP¥158 for next year compared to JP¥166 last year. New Risk • Feb 03
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 8.3% 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 Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: JP¥5.38 loss per share (down from JP¥19.82 profit in 3Q 2024). Revenue: JP¥78.6b (down 6.1% from 3Q 2024). Net loss: JP¥293.0m (down 127% from profit in 3Q 2024). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Jan 03
Sanyo Special Steel Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Sanyo Special Steel Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 30
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th March 2025 Payment date: 5th June 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: JP¥9.12 loss per share (down from JP¥17.01 profit in 2Q 2024). Revenue: JP¥79.9b (down 6.4% from 2Q 2024). Net loss: JP¥497.0m (down 154% from profit in 2Q 2024). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% 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. Announcement • Sep 25
Sanyo Special Steel Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Sanyo Special Steel Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,785, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Metals and Mining industry in Japan. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,084 per share. Reported Earnings • Aug 01
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥37.26 (down from JP¥79.07 in 1Q 2024). Revenue: JP¥88.5b (down 11% from 1Q 2024). Net income: JP¥2.03b (down 53% from 1Q 2024). Profit margin: 2.3% (down from 4.3% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Japan. 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 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 30
Sanyo Special Steel Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending September 30, 2024 and Fiscal Year Ending March 31, 2025 Sanyo Special Steel Co., Ltd. provided Consolidated earnings guidance for the Six months ending September 30, 2024 and fiscal year ending March 31, 2025. For the period, the company expects Net sales JPY 165,000 million, Operating profit JPY 2,600 million, Profit attributable to owners of parent JPY 1,200 million and Basic earnings per share JPY 22.02 per share.
For the year, the company expects Net sales JPY 345,000 Million, Operating profit JPY 12,300 million, Profit attributable to owners of parent JPY 9,500 million and Basic earnings per share JPY 174.36 per share. Declared Dividend • Jul 11
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.4%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Sanyo Special Steel Co., Ltd. to Report Q1, 2025 Results on Jul 30, 2024 Sanyo Special Steel Co., Ltd. announced that they will report Q1, 2025 results on Jul 30, 2024 Major Estimate Revision • May 08
Consensus EPS estimates increase by 34%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from JP¥375.0b to JP¥369.0b. EPS estimate rose from JP¥120 to JP¥162. Net income forecast to shrink 2.8% next year vs 13% growth forecast for Metals and Mining industry in Japan . Consensus price target broadly unchanged at JP¥2,735. Share price was steady at JP¥2,227 over the past week. Reported Earnings • May 01
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥166 (down from JP¥381 in FY 2023). Revenue: JP¥353.8b (down 10% from FY 2023). Net income: JP¥9.06b (down 56% from FY 2023). Profit margin: 2.6% (down from 5.3% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to JP¥2,225. The fair value is estimated to be JP¥2,805, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Mar 24
Sanyo Special Steel Co., Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2024 Sanyo Special Steel Co., Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (3.5%). Buy Or Sell Opportunity • Mar 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to JP¥2,248. The fair value is estimated to be JP¥2,826, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Major Estimate Revision • Feb 15
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥366.3b to JP¥354.5b. EPS estimate also fell from JP¥184 per share to JP¥147 per share. Net income forecast to shrink 44% next year vs 11% growth forecast for Metals and Mining industry in Japan . Consensus price target down from JP¥2,950 to JP¥2,685. Share price was steady at JP¥2,129 over the past week. Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥379.6b to JP¥366.3b. EPS estimate also fell from JP¥252 per share to JP¥184 per share. Net income forecast to shrink 28% next year vs 5.5% growth forecast for Metals and Mining industry in Japan . Consensus price target down from JP¥3,325 to JP¥2,950. Share price was steady at JP¥2,161 over the past week. Buy Or Sell Opportunity • Feb 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to JP¥2,146. The fair value is estimated to be JP¥2,743, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Price Target Changed • Feb 05
Price target decreased by 13% to JP¥2,950 Down from JP¥3,375, the current price target is an average from 2 analysts. New target price is 33% above last closing price of JP¥2,212. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥184 for next year compared to JP¥381 last year. Reported Earnings • Feb 04
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥19.82 (down from JP¥89.75 in 3Q 2023). Revenue: JP¥83.7b (down 15% from 3Q 2023). Net income: JP¥1.08b (down 78% from 3Q 2023). Profit margin: 1.3% (down from 4.9% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 73%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Feb 02
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 6.5% 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 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 (6.5% average weekly change). Announcement • Dec 24
Sanyo Special Steel Co., Ltd. to Report Q3, 2024 Results on Feb 02, 2024 Sanyo Special Steel Co., Ltd. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥17.01 (down from JP¥54.88 in 2Q 2023). Revenue: JP¥85.4b (down 6.5% from 2Q 2023). Net income: JP¥927.0m (down 69% from 2Q 2023). Profit margin: 1.1% (down from 3.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
Sanyo Special Steel Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Sanyo Special Steel Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥35.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.2%). Price Target Changed • Jul 31
Price target increased by 13% to JP¥3,375 Up from JP¥2,975, the current price target is an average from 2 analysts. New target price is 18% above last closing price of JP¥2,851. Stock is up 45% over the past year. The company is forecast to post earnings per share of JP¥275 for next year compared to JP¥381 last year. Reported Earnings • Jul 29
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥79.07 (down from JP¥126 in 1Q 2023). Revenue: JP¥99.9b (down 4.0% from 1Q 2023). Net income: JP¥4.31b (down 37% from 1Q 2023). Profit margin: 4.3% (down from 6.6% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Jun 26
Sanyo Special Steel Co., Ltd. to Report Q1, 2024 Results on Jul 28, 2023 Sanyo Special Steel Co., Ltd. announced that they will report Q1, 2024 results on Jul 28, 2023 Major Estimate Revision • Jun 23
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥242 to JP¥269. Revenue forecast unchanged at JP¥391.0b. Net income forecast to shrink 45% next year vs 11% decline forecast for Metals and Mining industry in Japan. Consensus price target of JP¥2,975 unchanged from last update. Share price fell 2.9% to JP¥2,774 over the past week. Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥381 (up from JP¥280 in FY 2022). Revenue: JP¥393.8b (up 8.4% from FY 2022). Net income: JP¥20.7b (up 36% from FY 2022). Profit margin: 5.3% (up from 4.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share at 3.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 05 June 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.6%). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥89.75 (vs JP¥52.60 in 3Q 2022) Third quarter 2023 results: EPS: JP¥89.75 (up from JP¥52.60 in 3Q 2022). Revenue: JP¥99.0b (up 15% from 3Q 2022). Net income: JP¥4.89b (up 71% from 3Q 2022). Profit margin: 4.9% (up from 3.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Dec 26
Sanyo Special Steel Co., Ltd. to Report Q3, 2023 Results on Feb 01, 2023 Sanyo Special Steel Co., Ltd. announced that they will report Q3, 2023 results on Feb 01, 2023 Major Estimate Revision • Dec 03
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥224 to JP¥272. Revenue forecast steady at JP¥385.3b. Net income forecast to shrink 24% next year vs 12% decline forecast for Metals and Mining industry in Japan. Consensus price target broadly unchanged at JP¥2,825. Share price fell 7.0% to JP¥2,149 over the past week. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent External Audit & Supervisory Committee Member Toide Iwao was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥54.88 (up from JP¥22.19 in 2Q 2022). Revenue: JP¥91.4b (up 26% from 2Q 2022). Net income: JP¥2.99b (up 147% from 2Q 2022). Profit margin: 3.3% (up from 1.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 86% 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 24
Sanyo Special Steel Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Sanyo Special Steel Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 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 not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (5.4%). Reported Earnings • Jul 30
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥126 (up from JP¥112 in 1Q 2022). Revenue: JP¥104.1b (down 5.9% from 1Q 2022). Net income: JP¥6.88b (up 13% from 1Q 2022). Profit margin: 6.6% (up from 5.5% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 244%. Over the next year, revenue is forecast to grow 6.6%, compared to a 2,080% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 29
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥373.8b to JP¥377.8b. EPS estimate increased from JP¥178 to JP¥215 per share. Net income forecast to shrink 29% next year vs 21% decline forecast for Metals and Mining industry in Japan. Consensus price target broadly unchanged at JP¥2,810. Share price rose 4.7% to JP¥2,019 over the past week. Major Estimate Revision • May 05
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥202 to JP¥174. Revenue forecast unchanged from JP¥365.0b at last update. Net income forecast to shrink 31% next year vs 22% decline forecast for Metals and Mining industry in Japan. Consensus price target of JP¥2,755 unchanged from last update. Share price rose 2.3% to JP¥2,041 over the past week. Announcement • May 02
Sanyo Special Steel Co., Ltd., Annual General Meeting, Jun 24, 2022 Sanyo Special Steel Co., Ltd., Annual General Meeting, Jun 24, 2022. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥280 (up from JP¥126 loss in FY 2021). Revenue: JP¥363.3b (up 72% from FY 2021). Net income: JP¥15.3b (up JP¥22.1b from FY 2021). Profit margin: 4.2% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Over the next year, revenue is forecast to stay flat compared to a 8.5% growth forecast for the mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Masaharu Usuki was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Sanyo Special Steel Co., Ltd. to Report Fiscal Year 2022 Results on Apr 28, 2022 Sanyo Special Steel Co., Ltd. announced that they will report fiscal year 2022 results on Apr 28, 2022 Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥1,796, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Metals and Mining industry in Japan. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,269 per share. Price Target Changed • Feb 16
Price target increased to JP¥2,755 Up from JP¥2,540, the current price target is an average from 2 analysts. New target price is 29% above last closing price of JP¥2,142. Stock is up 20% over the past year. The company is forecast to post earnings per share of JP¥200 next year compared to a net loss per share of JP¥126 last year. Major Estimate Revision • Feb 03
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥349.0b to JP¥353.0b. EPS estimate increased from JP¥169 to JP¥186 per share. Net income forecast to grow 14% next year vs 8.9% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥2,540 to JP¥2,645. Share price rose 8.5% to JP¥2,246 over the past week. Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥52.60 (up from JP¥46.61 loss in 3Q 2021). Revenue: JP¥86.0b (up 67% from 3Q 2021). Net income: JP¥2.87b (up JP¥5.41b from 3Q 2021). Profit margin: 3.3% (up from net loss in 3Q 2021). Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 621%. Over the next year, revenue is forecast to grow 8.2%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 02
Consensus EPS estimates increase to JP¥169 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥345.2b to JP¥349.0b. EPS estimate increased from JP¥144 to JP¥169 per share. Net income forecast to grow 157% next year vs 6.5% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥2,315 to JP¥2,540. Share price fell 6.6% to JP¥1,869 over the past week. Price Target Changed • Nov 03
Price target increased to JP¥2,315 Up from JP¥1,955, the current price target is an average from 2 analysts. New target price is 26% above last closing price of JP¥1,835. Stock is up 75% over the past year. The company is forecast to post earnings per share of JP¥144 next year compared to a net loss per share of JP¥126 last year. Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥112 (vs JP¥26.88 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥110.6b (up 109% from 1Q 2021). Net income: JP¥6.08b (up JP¥7.55b from 1Q 2021). Profit margin: 5.5% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 03
Price target increased to JP¥1,885 Up from JP¥1,593, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥1,944. Stock is up 125% over the past year. Reported Earnings • May 02
Full year 2021 earnings released: JP¥126 loss per share (vs JP¥67.14 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: JP¥210.7b (down 20% from FY 2020). Net loss: JP¥6.87b (loss widened 85% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 02
Price target raised to JP¥1,213 Up from JP¥1,025, the current price target is an average from 2 analysts. The new target price is 27% below the current share price of JP¥1,662. As of last close, the stock is up 15% over the past year. Reported Earnings • Feb 02
Third quarter 2021 earnings released: JP¥46.61 loss per share (vs JP¥24.59 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: JP¥51.6b (down 11% from 3Q 2020). Net loss: JP¥2.54b (loss widened 88% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 54%. Over the next year, revenue is forecast to grow 21%, compared to a 4.1% growth forecast for the Metals and Mining industry in Japan. Is New 90 Day High Low • Feb 01
New 90-day high: JP¥1,616 The company is up 56% from its price of JP¥1,035 on 02 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥279 per share. Is New 90 Day High Low • Jan 07
New 90-day high: JP¥1,366 The company is up 32% from its price of JP¥1,035 on 09 October 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Announcement • Dec 25
Sanyo Special Steel Co., Ltd. to Report Q3, 2021 Results on Jan 29, 2021 Sanyo Special Steel Co., Ltd. announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Dec 03
New 90-day high: JP¥1,336 The company is up 46% from its price of JP¥918 on 04 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 12% over the same period. Announcement • Sep 26
Sanyo Special Steel Co., Ltd. to Report Q2, 2021 Results on Oct 29, 2020 Sanyo Special Steel Co., Ltd. announced that they will report Q2, 2021 results on Oct 29, 2020 Announcement • Jun 29
Sanyo Special Steel Co., Ltd. to Report Q1, 2021 Results on Jul 31, 2020 Sanyo Special Steel Co., Ltd. announced that they will report Q1, 2021 results on Jul 31, 2020