Announcement • May 30
The Bank of Nagoya, Ltd. to Report Q1, 2027 Results on Aug 05, 2026 The Bank of Nagoya, Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Reported Earnings • May 13
Full year 2026 earnings released: EPS: JP¥412 (vs JP¥299 in FY 2025) Full year 2026 results: EPS: JP¥412 (up from JP¥299 in FY 2025). Revenue: JP¥102.5b (up 12% from FY 2025). Net income: JP¥20.3b (up 38% from FY 2025). Profit margin: 20% (up from 16% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
The Bank of Nagoya, Ltd., Annual General Meeting, Jun 26, 2026 The Bank of Nagoya, Ltd., Annual General Meeting, Jun 26, 2026. Announcement • May 10
The Bank of Nagoya, Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 The Bank of Nagoya, Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 12, 2026 New Risk • Apr 01
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 9.5% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥6,320, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 14x in the Banks industry in Japan. Total returns to shareholders of 552% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.7%). New Risk • Feb 13
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 5.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥161 (vs JP¥94.67 in 3Q 2025) Third quarter 2026 results: EPS: JP¥161 (up from JP¥94.67 in 3Q 2025). Revenue: JP¥28.2b (up 13% from 3Q 2025). Net income: JP¥7.92b (up 70% from 3Q 2025). Profit margin: 28% (up from 19% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 12
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 4.5%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 03
The Bank of Nagoya, Ltd. to Report Q3, 2026 Results on Feb 06, 2026 The Bank of Nagoya, Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥24.7b (up 19% from 2Q 2025). Net income: JP¥3.91b (up 14% from 2Q 2025). Profit margin: 16% (in line with 2Q 2025). Buy Or Sell Opportunity • Oct 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to JP¥3,590. The fair value is estimated to be JP¥2,972, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 22%. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.1%). Announcement • Sep 06
The Bank of Nagoya, Ltd. to Report Q2, 2026 Results on Nov 14, 2025 The Bank of Nagoya, Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥319 (vs JP¥246 in 1Q 2025) First quarter 2026 results: EPS: JP¥319 (up from JP¥246 in 1Q 2025). Revenue: JP¥26.6b (up 14% from 1Q 2025). Net income: JP¥5.24b (up 29% from 1Q 2025). Profit margin: 20% (up from 18% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥150 announced Shareholders will receive a dividend of JP¥150. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
The Bank of Nagoya, Ltd. to Report Q1, 2026 Results on Aug 06, 2025 The Bank of Nagoya, Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 17
Full year 2025 earnings released: EPS: JP¥897 (vs JP¥594 in FY 2024) Full year 2025 results: EPS: JP¥897 (up from JP¥594 in FY 2024). Revenue: JP¥91.9b (up 3.1% from FY 2024). Net income: JP¥14.7b (up 47% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 16
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥7,590. The fair value is estimated to be JP¥9,498, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Announcement • May 13
The Bank of Nagoya, Ltd., Annual General Meeting, Jun 27, 2025 The Bank of Nagoya, Ltd., Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥7,330, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 9x in the Banks industry in Japan. Total returns to shareholders of 181% over the past three years. New Risk • Apr 04
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥7,010, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 10x in the Banks industry in Japan. Total returns to shareholders of 179% over the past three years. Buy Or Sell Opportunity • Apr 03
Now 24% undervalued Over the last 90 days, the stock has risen 9.0% to JP¥7,010. The fair value is estimated to be JP¥9,210, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Announcement • Mar 27
KYB Corporation (TSE:7242) completed the acquisition of 84.28% stake in Chita Kogyo Co., Ltd. (NSE:5993) from a group of sellers. KYB Corporation (TSE:7242) proposed to acquire remaining 88.4% stake in Chita Kogyo Co., Ltd. (NSE:5993) from group of sellers for ¥17 billion on November 11, 2024. A cash consideration valued at ¥2010 per share will be paid by KYB Corporation. The deal is subject to minimum tender. As of January 28, 2025, the Japan Fair Trade Commission has approved the transaction under the Antimonopoly Act. The tender offer will commence around early February 2025.
The Board of Directors of Chita Kogyo Co., Ltd. formed a special committee for the transaction. Tender offer period is February 7, 2025 to March 25, 2025.
Mizuho Securities Co., Ltd. acted as financial advisor for KYB Corporation. Nishimura & Asahi acted as legal advisor for KYB Corporation. PwC Advisory LLC acted as financial advisor for KYB Corporation. PwC Tax Japan acted as accountant for KYB Corporation. SMBC Nikko Securities Inc. acted as financial advisor for Chita Kogyo Co., Ltd. Mori Hamada & Matsumoto LPC acted as legal advisor for Chita Kogyo Co., Ltd. Tokyo Kyodo Accounting Office Co., Ltd. acted as accountant for Chita Kogyo Co., Ltd. E&E Solutions Inc. acted as environmental advisor for KYB Corporation.
KYB Corporation (TSE:7242) completed the acquisition of 84.28% stake in Chita Kogyo Co., Ltd. (NSE:5993) from a group of sellers on March 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.1%). Announcement • Mar 01
The Bank of Nagoya, Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 The Bank of Nagoya, Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Buy Or Sell Opportunity • Feb 28
Now 21% undervalued Over the last 90 days, the stock has risen 17% to JP¥7,170. The fair value is estimated to be JP¥9,088, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥284 (vs JP¥202 in 3Q 2024) Third quarter 2025 results: EPS: JP¥284 (up from JP¥202 in 3Q 2024). Revenue: JP¥25.0b (down 13% from 3Q 2024). Net income: JP¥4.66b (up 37% from 3Q 2024). Profit margin: 19% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 05
The Bank of Nagoya, Ltd. to Report Q3, 2025 Results on Feb 07, 2025 The Bank of Nagoya, Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: JP¥210 (vs JP¥91.62 in 2Q 2024) Second quarter 2025 results: EPS: JP¥210 (up from JP¥91.62 in 2Q 2024). Revenue: JP¥21.0b (down 6.7% from 2Q 2024). Net income: JP¥3.45b (up 122% from 2Q 2024). Profit margin: 16% (up from 6.9% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Nov 11
KYB Corporation (TSE:7242) proposed to acquire an additional 88.4% stake in Chita Kogyo Co., Ltd. (NSE:5993) from group of sellers for ¥17.0 billion in a tender offer transaction. KYB Corporation (TSE:7242) proposed to acquire an additional 88.4% stake in Chita Kogyo Co., Ltd. (NSE:5993) from group of sellers for ¥17.0 billion in a tender offer transaction on November 11, 2024. A cash consideration valued at ¥2010 per share will be paid by KYB Corporation.
The Board of Directors of Chita Kogyo Co., Ltd. formed a special committee for the transaction.
Mizuho Securities Co., Ltd. acted as financial advisor for KYB Corporation. Nishimura & Asahi acted as legal advisor for KYB Corporation. PwC Advisory LLC acted as financial advisor for KYB Corporation. PwC Tax Japan acted as accountant for KYB Corporation. SMBC Nikko Securities Inc. acted as financial advisor for Chita Kogyo Co., Ltd. Mori Hamada & Matsumoto LPC acted as legal advisor for Chita Kogyo Co., Ltd. Tokyo Kyodo Accounting Office Co., Ltd. acted as accountant for Chita Kogyo Co., Ltd. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.5%). Announcement • Aug 27
The Bank of Nagoya, Ltd. to Report Q2, 2025 Results on Nov 12, 2024 The Bank of Nagoya, Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥246 (vs JP¥173 in 1Q 2024) First quarter 2025 results: EPS: JP¥246 (up from JP¥173 in 1Q 2024). Revenue: JP¥23.3b (up 28% from 1Q 2024). Net income: JP¥4.06b (up 38% from 1Q 2024). Profit margin: 18% (up from 16% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 39% 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 23% After last week's 23% share price decline to JP¥5,990, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 10x in the Banks industry in Japan. Total returns to shareholders of 169% over the past three years. New Risk • Aug 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 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Aug 02
Now 22% undervalued Over the last 90 days, the stock has risen 8.7% to JP¥7,480. The fair value is estimated to be JP¥9,591, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 14%. Declared Dividend • Jul 11
Final dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jun 05
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 5.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥594 (vs JP¥484 in FY 2023) Full year 2024 results: EPS: JP¥594 (up from JP¥484 in FY 2023). Revenue: JP¥89.3b (up 24% from FY 2023). Net income: JP¥10.0b (up 20% from FY 2023). Profit margin: 11% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Announcement • May 16
The Bank of Nagoya, Ltd., Annual General Meeting, Jun 21, 2024 The Bank of Nagoya, Ltd., Annual General Meeting, Jun 21, 2024. Announcement • May 15
The Bank of Nagoya, Ltd. (TSE:8522) announces an Equity Buyback for 300,000 shares, representing 1.8% for ¥2,700 million. The Bank of Nagoya, Ltd. (TSE:8522) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.8% of its share capital, for ¥2,700 million. The repurchase price will be ¥7,180 per share. The purpose of the program is to enhance shareholder returns through improved capital efficiency in accordance with the shareholder return policy. The repurchased shares will be cancelled. As of April 30, 2024, the company had 16,685,625 shares outstanding (excluding treasury stock) and 69,862 shares in treasury. Announcement • Mar 28
The Bank of Nagoya, Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 The Bank of Nagoya, Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Buy Or Sell Opportunity • Mar 25
Now 20% undervalued Over the last 90 days, the stock has risen 26% to JP¥6,700. The fair value is estimated to be JP¥8,381, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 4.8%. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.9%). Buy Or Sell Opportunity • Mar 04
Now 21% undervalued Over the last 90 days, the stock has risen 23% to JP¥6,630. The fair value is estimated to be JP¥8,411, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 4.8%. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥202 (vs JP¥138 in 3Q 2023) Third quarter 2024 results: EPS: JP¥202 (up from JP¥138 in 3Q 2023). Revenue: JP¥31.9b (up 85% from 3Q 2023). Net income: JP¥3.40b (up 42% from 3Q 2023). Profit margin: 11% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Dec 07
The Bank of Nagoya, Ltd. to Report Q3, 2024 Results on Feb 07, 2024 The Bank of Nagoya, Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 New Risk • Nov 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥91.62 (vs JP¥139 in 2Q 2023) Second quarter 2024 results: EPS: JP¥91.62 (down from JP¥139 in 2Q 2023). Revenue: JP¥24.7b (up 33% from 2Q 2023). Net income: JP¥1.56b (down 35% from 2Q 2023). Profit margin: 6.3% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 28
The Bank of Nagoya, Ltd. to Report Q2, 2024 Results on Nov 10, 2023 The Bank of Nagoya, Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥60.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥172 (vs JP¥137 in 1Q 2023) First quarter 2024 results: EPS: JP¥172 (up from JP¥137 in 1Q 2023). Revenue: JP¥19.5b (up 3.1% from 1Q 2023). Net income: JP¥2.95b (up 23% from 1Q 2023). Profit margin: 15% (up from 13% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year. Announcement • Jun 03
The Bank of Nagoya, Ltd. to Report Q1, 2024 Results on Aug 02, 2023 The Bank of Nagoya, Ltd. announced that they will report Q1, 2024 results on Aug 02, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥484 (vs JP¥649 in FY 2022) Full year 2023 results: EPS: JP¥484 (down from JP¥649 in FY 2022). Revenue: JP¥72.4b (down 2.5% from FY 2022). Net income: JP¥8.38b (down 28% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 18% per year. Announcement • May 14
The Bank of Nagoya, Ltd., Annual General Meeting, Jun 23, 2023 The Bank of Nagoya, Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.0%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥138 (vs JP¥221 in 3Q 2022) Third quarter 2023 results: EPS: JP¥138 (down from JP¥221 in 3Q 2022). Revenue: JP¥18.5b (down 3.9% from 3Q 2022). Net income: JP¥2.39b (down 40% from 3Q 2022). Profit margin: 13% (down from 21% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 30
Second quarter 2023 earnings released: EPS: JP¥139 (vs JP¥227 in 2Q 2022) Second quarter 2023 results: EPS: JP¥139 (down from JP¥227 in 2Q 2022). Revenue: JP¥19.3b (down 1.2% from 2Q 2022). Net income: JP¥2.40b (down 42% from 2Q 2022). Profit margin: 13% (down from 21% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 27
The Bank of Nagoya, Ltd. to Report Q3, 2023 Results on Feb 08, 2023 The Bank of Nagoya, Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥139 (vs JP¥227 in 2Q 2022) Second quarter 2023 results: EPS: JP¥139 (down from JP¥227 in 2Q 2022). Revenue: JP¥19.3b (down 1.2% from 2Q 2022). Net income: JP¥2.40b (down 42% from 2Q 2022). Profit margin: 13% (down from 21% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 27
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥3,863, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 38%. Buying Opportunity • Oct 11
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥3,863, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 38%. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.4%). Announcement • Sep 01
The Bank of Nagoya, Ltd. to Report Q2, 2023 Results on Nov 09, 2022 The Bank of Nagoya, Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: JP¥137 (vs JP¥140 in 1Q 2022) First quarter 2023 results: EPS: JP¥137 (down from JP¥140 in 1Q 2022). Revenue: JP¥18.9b (up 6.9% from 1Q 2022). Net income: JP¥2.39b (down 5.9% from 1Q 2022). Profit margin: 13% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 02
The Bank of Nagoya, Ltd. to Report Q1, 2023 Results on Aug 03, 2022 The Bank of Nagoya, Ltd. announced that they will report Q1, 2023 results on Aug 03, 2022 Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥649 (vs JP¥592 in FY 2021) Full year 2022 results: EPS: JP¥649 (up from JP¥592 in FY 2021). Revenue: JP¥74.4b (up 2.7% from FY 2021). Net income: JP¥11.6b (up 8.5% from FY 2021). Profit margin: 16% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 13
The Bank of Nagoya, Ltd., Annual General Meeting, Jun 24, 2022 The Bank of Nagoya, Ltd., Annual General Meeting, Jun 24, 2022. Announcement • Apr 08
The Bank of Nagoya, Ltd. to Report Fiscal Year 2022 Results on May 11, 2022 The Bank of Nagoya, Ltd. announced that they will report fiscal year 2022 results on May 11, 2022 Buying Opportunity • Apr 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.1%. The fair value is estimated to be JP¥3,473, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 41%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 7.8% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (4.0%). Buying Opportunity • Mar 08
Now 22% undervalued Over the last 90 days, the stock is up 7.9%. The fair value is estimated to be JP¥3,473, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% per annum over the last 3 years. Earnings per share has grown by 41% per annum over the last 3 years. Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥221 (up from JP¥102 in 3Q 2021). Revenue: JP¥20.3b (up 25% from 3Q 2021). Net income: JP¥3.96b (up 114% from 3Q 2021). Profit margin: 20% (up from 11% 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 41% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 24
The Bank of Nagoya, Ltd. (TSE:8522) announces an Equity Buyback for 600,000 shares, representing 3.31% for ¥1,800 million. The Bank of Nagoya, Ltd. (TSE:8522) announces a share repurchase program. Under the program, the company will repurchase 600,000 shares, representing 3.31% of its share capital, for ¥1,800 million. The purpose of the program is to enhance shareholder returns by improving capital efficiency. The repurchased shares will be cancelled. The program will run until February 28, 2022. As of September 30, 2021, the company had 18,123,299 shares outstanding and 132,188 shares in treasury. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥227 (vs JP¥40.69 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥20.5b (up 41% from 2Q 2021). Net income: JP¥4.11b (up 458% from 2Q 2021). Profit margin: 20% (up from 5.1% 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 31% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (4.3%). Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥140 (vs JP¥81.35 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥17.8b (up 12% from 1Q 2021). Net income: JP¥2.54b (up 72% from 1Q 2021). Profit margin: 14% (up from 9.3% 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 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Executive Departure • Jul 06
Senior MD & Director Yasuhisa Yamamoto has left the company On the 25th of June, Yasuhisa Yamamoto's tenure as Senior MD & Director ended. We don't have any record of a personal shareholding under Yasuhisa's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 06
Head Office Sales Manager & Director Kiyoshi Imaoka has left the company On the 25th of June, Kiyoshi Imaoka's tenure as Head Office Sales Manager & Director ended after 5.0 years in the role. We don't have any record of a personal shareholding under Kiyoshi's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jul 06
Director, Executive Officer & GM of Business Support Department Tadashi Takahashi has left the company On the 25th of June, Tadashi Takahashi's tenure as Director, Executive Officer & GM of Business Support Department ended. We don't have any record of a personal shareholding under Tadashi's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥592 (vs JP¥247 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥72.7b (up 20% from FY 2020). Net income: JP¥10.7b (up 132% from FY 2020). Profit margin: 15% (up from 7.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (3.8%). Announcement • Mar 19
The Bank of Nagoya, Ltd. to Report Fiscal Year 2021 Results on May 12, 2021 The Bank of Nagoya, Ltd. announced that they will report fiscal year 2021 results on May 12, 2021 Is New 90 Day High Low • Mar 01
New 90-day high: JP¥2,939 The company is up 8.0% from its price of JP¥2,720 on 01 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 16% over the same period. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS JP¥102 (vs JP¥133 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥17.8b (up 7.8% from 3Q 2020). Net income: JP¥1.85b (down 26% from 3Q 2020). Profit margin: 10% (down from 15% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 04
New 90-day low: JP¥2,501 The company is down 7.0% from its price of JP¥2,681 on 06 October 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 1.0% over the same period. 
