Announcement • Jun 17
Shin Nippon Biomedical Laboratories, Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Buy Or Sell Opportunity • Jun 07
Now 21% overvalued Over the last 90 days, the stock has fallen 28% to JP¥1,123. The fair value is estimated to be JP¥929, 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% over the last 3 years. Earnings per share has declined by 8.2%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 0.01% per annum over the same time period. Price Target Changed • May 29
Price target decreased by 9.7% to JP¥2,340 Down from JP¥2,590, the current price target is an average from 2 analysts. New target price is 92% above last closing price of JP¥1,217. Stock is down 10% over the past year. The company is forecast to post earnings per share of JP¥101 for next year compared to JP¥110 last year. Buy Or Sell Opportunity • May 19
Now 20% overvalued Over the last 90 days, the stock has fallen 26% to JP¥1,256. The fair value is estimated to be JP¥1,042, 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% over the last 3 years. Earnings per share has declined by 8.2%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Reported Earnings • May 12
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥110 (down from JP¥118 in FY 2025). Revenue: JP¥32.5b (flat on FY 2025). Net income: JP¥4.57b (down 7.3% from FY 2025). Profit margin: 14% (down from 15% in FY 2025). Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • May 11
Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 26, 2026 Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 26, 2026. Announcement • May 09
Shin Nippon Biomedical Laboratories, Ltd. to Report Fiscal Year 2026 Results on May 11, 2026 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report fiscal year 2026 results on May 11, 2026 Announcement • May 02
Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Apr 30, 2026 Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Apr 30, 2026. Agenda: To change the Company's representatives and to assign executive members as described below; and to consider AGM. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 52% and the cash payout ratio is 100%. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥29.04 (vs JP¥45.03 in 3Q 2025) Third quarter 2026 results: EPS: JP¥29.04 (down from JP¥45.03 in 3Q 2025). Revenue: JP¥6.43b (down 34% from 3Q 2025). Net income: JP¥1.21b (down 36% from 3Q 2025). Profit margin: 19% (in line with 3Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 13% per year. Major Estimate Revision • Jan 07
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥34.9b to JP¥33.9b. EPS estimate also fell from JP¥96.25 per share to JP¥83.05 per share. Net income forecast to shrink 1.3% next year vs 21% growth forecast for Life Sciences industry in Japan . Consensus price target up from JP¥2,440 to JP¥2,640. Share price was steady at JP¥1,674 over the past week. Announcement • Dec 10
Shin Nippon Biomedical Laboratories, Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Nov 29
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not adequately covered by cash flows (100% cash payout ratio). The dividend has increased by an average of 49% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 13
Price target decreased by 8.3% to JP¥2,440 Down from JP¥2,660, the current price target is an average from 2 analysts. New target price is 58% above last closing price of JP¥1,543. Stock is up 4.6% over the past year. The company is forecast to post earnings per share of JP¥96.25 for next year compared to JP¥118 last year. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥19.23 (vs JP¥29.04 in 2Q 2025) Second quarter 2026 results: EPS: JP¥19.23 (down from JP¥29.04 in 2Q 2025). Revenue: JP¥8.29b (up 19% from 2Q 2025). Net income: JP¥800.6m (down 34% from 2Q 2025). Profit margin: 9.7% (down from 17% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.7%). Buy Or Sell Opportunity • Aug 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to JP¥1,586. The fair value is estimated to be JP¥1,306, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 9.4% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Aug 16
Shin Nippon Biomedical Laboratories, Ltd. to Report Q2, 2026 Results on Nov 07, 2025 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 New Risk • Aug 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.4% average weekly change). Declared Dividend • Jul 09
Final dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (42% 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 60% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 13
Shin Nippon Biomedical Laboratories, Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Major Estimate Revision • Jun 06
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥35.7b to JP¥34.7b. EPS estimate also fell from JP¥137 per share to JP¥110 per share. Net income forecast to shrink 7.1% next year vs 19% growth forecast for Life Sciences industry in Japan . Consensus price target down from JP¥2,890 to JP¥2,660. Share price fell 4.9% to JP¥1,290 over the past week. Buy Or Sell Opportunity • May 13
Now 26% overvalued Over the last 90 days, the stock has fallen 19% to JP¥1,395. The fair value is estimated to be JP¥1,106, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. New Risk • May 11
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 9.4% 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 (9.4% average weekly change). Minor Risks High level of debt (55% net debt to equity). Paying a dividend despite having no free cash flows. Reported Earnings • May 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥118 (down from JP¥133 in FY 2024). Revenue: JP¥32.4b (up 23% from FY 2024). Net income: JP¥4.92b (down 11% from FY 2024). Profit margin: 15% (down from 21% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 08
Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 27, 2025 Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 27, 2025. Announcement • May 01
Satsuma Pharmaceuticals Announces U.S. FDA Approval for Atzumi™ (Dihydroergotamine) Nasal Powder for the Acute Treatment of Migraine Satsuma Pharmaceuticals Inc. and its corporate parent, Shin Nippon Biomedical Laboratories, Ltd. announced that the U.S. Food and Drug Administration (FDA) has approved a 505(b)(2) New Drug Application (NDA) for Atzumi™ (dihydroergotamine (DHE)) nasal powder for the acute treatment of migraine with or without aura in adults. Atzumi was previously known as STS101. It is the second leading cause of disability worldwide in terms of time lost to disability and most common cause of disability among young women. The product is designed to provide patients an easy-to-use and easy-to-carry treatment option. The FDA approval for Atzumi is based on two clinical studies (Phase 1 PK trial and ASCEND Phase 3 open-label, long-term safety trial), which demonstrated fast absorption, rapid achievement of high DHE plasma concentrations, and sustained DHE plasma levels over time as well as safety and tolerability in subjects with migraine. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,572, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 28x in the Life Sciences industry in Asia. Total returns to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,075 per share. Buy Or Sell Opportunity • Apr 25
Now 27% overvalued Over the last 90 days, the stock has fallen 18% to JP¥1,361. The fair value is estimated to be JP¥1,074, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Buy Or Sell Opportunity • Apr 08
Now 26% overvalued Over the last 90 days, the stock has fallen 19% to JP¥1,356. The fair value is estimated to be JP¥1,073, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 20%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. 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¥1,182, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 29x in the Life Sciences industry in Asia. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,072 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 25 June 2025. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Major Estimate Revision • Mar 07
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥29.7b to JP¥32.3b. EPS estimate increased from JP¥91.20 to JP¥110 per share. Net income forecast to grow 9.5% next year vs 51% growth forecast for Life Sciences industry in Japan. Consensus price target up from JP¥2,530 to JP¥2,840. Share price was steady at JP¥1,468 over the past week. Announcement • Mar 05
Shin Nippon Biomedical Laboratories, Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥45.01 (vs JP¥19.89 in 3Q 2024) Third quarter 2025 results: EPS: JP¥45.01 (up from JP¥19.89 in 3Q 2024). Revenue: JP¥9.73b (up 60% from 3Q 2024). Net income: JP¥1.87b (up 126% from 3Q 2024). Profit margin: 19% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • Dec 21
Price target increased by 74% to JP¥2,530 Up from JP¥1,450, the current price target is an average from 2 analysts. New target price is 58% above last closing price of JP¥1,604. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of JP¥91.20 for next year compared to JP¥133 last year. Announcement • Dec 19
Shin Nippon Biomedical Laboratories, Ltd. to Report Q3, 2025 Results on Feb 05, 2025 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Declared Dividend • Nov 30
First half dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 25th June 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (53% 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 60% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 26
Satsuma Pharmaceuticals, Inc. and Shin Nippon Biomedical Laboratories, Ltd. Receive FDA Acceptance of NDA Resubmission of STS101 for the Acute Treatment of Migraine with or Without Aura Satsuma Pharmaceuticals, Inc. and its corporate parent, Shin Nippon Biomedical Laboratories, Ltd. announced that the U.S. Food and Drug Administration (FDA) has accepted for review a resubmission to original new drug application (NDA) for the investigational product STS101 (dihydroergotamine nasal powder) for the acute treatment of migraine with or without aura as a complete response to their January 2024 action letter. The Prescription Drug User Fee Act (PDUFA) date is set as April 30, 2025. Almost 40 million people in the United States suffer from migraine, especially among working women in their 20s to 40s. The U.S. market for acute migraine medications is estimated to be over USD 1.0 Billion. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥29.04 (vs JP¥38.27 in 2Q 2024) Second quarter 2025 results: EPS: JP¥29.04 (down from JP¥38.27 in 2Q 2024). Revenue: JP¥6.96b (up 14% from 2Q 2024). Net income: JP¥1.21b (down 24% from 2Q 2024). Profit margin: 17% (down from 26% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Nov 08
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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.7% operating cash flow to total debt). High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.7% average weekly change). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,473, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Life Sciences industry in Asia. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,999 per share. 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 49% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.0%). Announcement • Sep 19
Shin Nippon Biomedical Laboratories, Ltd. to Report Q2, 2025 Results on Nov 06, 2024 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q2, 2025 results on Nov 06, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: JP¥2.94 (down from JP¥32.98 in 1Q 2024). Revenue: JP¥5.55b (down 4.4% from 1Q 2024). Net income: JP¥122.2m (down 91% from 1Q 2024). Profit margin: 2.2% (down from 24% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 88%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% 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 21% After last week's 21% share price decline to JP¥977, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 21x in the Life Sciences industry in Asia. Total returns to shareholders of 22% over the past three years. Announcement • Jul 12
Shin Nippon Biomedical Laboratories, Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Declared Dividend • Jul 11
Final dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (38% 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 76% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 15
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥31.5b to JP¥30.5b. EPS estimate also fell from JP¥127 per share to JP¥103 per share. Net income forecast to shrink 22% next year vs 27% growth forecast for Life Sciences industry in Japan . Consensus price target of JP¥2,750 unchanged from last update. Share price was steady at JP¥1,416 over the past week. Announcement • May 10
Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 24, 2024 Shin Nippon Biomedical Laboratories, Ltd., Annual General Meeting, Jun 24, 2024. Reported Earnings • May 09
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥133 (down from JP¥146 in FY 2023). Revenue: JP¥26.5b (up 5.4% from FY 2023). Net income: JP¥5.53b (down 8.7% from FY 2023). Profit margin: 21% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 39%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Life Sciences industry in Asia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Price Target Changed • Mar 26
Price target decreased by 13% to JP¥3,150 Down from JP¥3,600, the current price target is an average from 2 analysts. New target price is 108% above last closing price of JP¥1,518. Stock is down 46% over the past year. The company is forecast to post earnings per share of JP¥95.50 for next year compared to JP¥146 last year. 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: 28 June 2024. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.3%). Announcement • Mar 02
Shin Nippon Biomedical Laboratories, Ltd. to Report Fiscal Year 2024 Results on May 08, 2024 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report fiscal year 2024 results on May 08, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥19.89 (up from JP¥1.63 loss in 3Q 2023). Revenue: JP¥6.10b (up 1.3% from 3Q 2023). Net income: JP¥828.0m (up JP¥896.0m from 3Q 2023). Profit margin: 14% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Life Sciences industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 03
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥30.5b to JP¥26.2b. EPS estimate fell from JP¥122 to JP¥95.50 per share. Net income forecast to grow 18% next year vs 13% growth forecast for Life Sciences industry in Japan. Consensus price target of JP¥3,650 unchanged from last update. Share price was steady at JP¥1,754 over the past week. Announcement • Feb 02
Shin Nippon Biomedical Laboratories, Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2024 Shin Nippon Biomedical Laboratories, Ltd. provided consolidated earnings guidance for the year ending March 31, 2024. For the period, the company expects revenue of ¥26,190 million, Operating profit of ¥3,470 million, Profit attributable to owners of parent of ¥3,975 million or ¥95.47 basic per share. Announcement • Dec 06
Shin Nippon Biomedical Laboratories, Ltd. to Report Q3, 2024 Results on Feb 02, 2024 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q3, 2024 results on Feb 02, 2024 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,552, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Life Sciences industry in Japan. Total returns to shareholders of 146% over the past three years. Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: JP¥38.26 (down from JP¥59.45 in 2Q 2023). Revenue: JP¥6.08b (down 3.5% from 2Q 2023). Net income: JP¥1.59b (down 36% from 2Q 2023). Profit margin: 26% (down from 39% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Life Sciences industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 07
Shin Nippon Biomedical Laboratories, Ltd. Announces Interim Dividend for the Year Ending 2024, Payable on November 30, 2023; Provides Dividend Guidance for the Year Ending 2024 Shin Nippon Biomedical Laboratories, Ltd. announced that it was resolved at its Board of Directors' meeting November 7, 2023 that interim dividends of ¥20.00 shall be paid from retained earnings to shareholders on the record date of September 30, 2023. Effective date November 30, 2023.For the year ending 2024, the company expects to pay a dividend of JPY 30.00 per share. New Risk • Oct 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 5.3% 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 (5.3% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.5%). Announcement • Aug 30
Shin Nippon Biomedical Laboratories, Ltd. to Report Q2, 2024 Results on Nov 07, 2023 Shin Nippon Biomedical Laboratories, Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023 Reported Earnings • Aug 03
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: JP¥32.99 (down from JP¥46.70 in 1Q 2023). Revenue: JP¥5.80b (up 44% from 1Q 2023). Net income: JP¥1.37b (down 29% from 1Q 2023). Profit margin: 24% (down from 48% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 63%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Life Sciences industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 17
Satsuma Pharmaceuticals and Shin Nippon Biomedical Laboratories, Ltd. Announce Three Abstracts on STS101 for the Acute Treatment of Migraine to Be Presented at the American Headache Society's 65th Annual Scientific Meeting Satsuma Pharmaceuticals Inc. and its corporate parent, Shin Nippon Biomedical Laboratories Ltd. announced that three abstracts describing efficacy and safety results from the STS101 Phase 3 efficacy trial were selected for presentation at the American Headache Society's (AHS) 65th Annual Scientific Meeting. The 2023 meeting will be held in a hybrid virtual and in-person format at the JW Marriott in Austin, Texas from June 15 to June 18, 2023. Full abstracts are now available on the AHS website and will be published in the journal Headache®?. Announcement • Jun 09
Shin Nippon Biomedical Laboratories, Ltd. (TSE:2395) completed the acquisition of the remaining 91.6% stake in Satsuma Pharmaceuticals, Inc. (NasdaqGM:STSA) from a group of sellers. Shin Nippon Biomedical Laboratories, Ltd. (TSE:2395) entered into an agreement to acquire the remaining 91.6% stake in Satsuma Pharmaceuticals, Inc. (NasdaqGM:STSA) from a group of sellers for $27.6 million on April 16, 2023. Under the terms of the transaction SNBL will acquire all the remaining shares of common stock of Satsuma through a tender offer, for a price of $0.91 per share in cash. In addition, SNBL will issue one non-tradeable CVR, represents the right to additional payments of up to $5.77 per share, in total in the event where Satsuma’s STS101 is approved by the FDA and commercialized, and SNBL achieves cumulative financial return objectives of up to $500 million. The purchase price will be funded from existing cash. Post the completion of the transaction, SNBL will hold 100% stake in Satsuma. The merger agreement also provides that the payment of a $905,136 termination fee will be payable by Satsuma to Shin Nippon. As part of the merger, Satsuma will terminate the employment of each of John Kollins, President and Chief Executive Officer of the Company, and Tom O’Neil, Chief Financial Officer of the Company, effective as of the closing of the Offer. Prior to the closing, such executive officers shall remain in their current positions with their current compensation.The transaction is subject to the tender of a majority of Satsuma’s outstanding shares, minimum cash condition and other customary closing conditions. The transaction has been unanimously approved by the Board of Directors of both SNBL and Satsuma. The tender offer period is planned from April 2023 to May 2023, with the initial period of the tender offer to commence within 15 business days following the execution of definitive agreement. The expiration of the tender offer is on June 5, 2023. American Stock Transfer & Trust Company acted as transfer agent and depository bank to Satsuma. Joshua M. Dubofsky of Latham & Watkins LLP acted as legal advisor to Satsuma. Ian B. Edvalson of Wilson Sonsini Goodrich & Rosati P.C. acted as legal advisor to Wilson Sonsini Goodrich & Rosati P.C. Lazard acted as lead financial advisor and Houlihan Lokey Capital, Inc. acted as financial advisor and fairness opinion provider to Satsuma. D.F. King & Co., Inc. acted as information agent to Satsuma.Shin Nippon Biomedical Laboratories, Ltd. (TSE:2395) completed the acquisition of the remaining 91.6% stake in Satsuma Pharmaceuticals, Inc. (NasdaqGM:STSA) from a group of sellers on June 8, 2023. The Offer expired at the end of June 5, 2023. Total of 21,979,704 Shares were validly tendered and not validly withdrawn pursuant to the Offer, which represented approximately 66.0618% of the fully-diluted capitalization of Satsuma. Price Target Changed • May 27
Price target increased by 15% to JP¥4,150 Up from JP¥3,600, the current price target is an average from 2 analysts. New target price is 94% above last closing price of JP¥2,135. Stock is up 21% over the past year. The company is forecast to post earnings per share of JP¥120 for next year compared to JP¥146 last year. Major Estimate Revision • May 15
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥29.5b to JP¥30.5b. EPS estimate fell from JP¥152 to JP¥122 per share. Net income forecast to shrink 12% next year vs 25% growth forecast for Life Sciences industry in Japan . Consensus price target broadly unchanged at JP¥3,533. Share price fell 8.7% to JP¥2,320 over the past week. Reported Earnings • May 09
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥146 (down from JP¥171 in FY 2022). Revenue: JP¥25.1b (up 41% from FY 2022). Net income: JP¥6.06b (down 15% from FY 2022). Profit margin: 24% (down from 40% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Life Sciences industry in Asia. 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 53% per year, which means it is tracking significantly ahead of earnings growth. 
