Major Estimate Revision • Jun 19
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥367.0b to JP¥351.2b. EPS estimate also fell from JP¥175 per share to JP¥131 per share. Net income forecast to grow 580% next year vs 0.09% growth forecast for Auto Components industry in Japan. Consensus price target up from JP¥6,220 to JP¥6,980. Share price fell 6.4% to JP¥4,570 over the past week. Announcement • Jun 13
Musashi Seimitsu Industry Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Major Estimate Revision • Jun 08
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥376.4b to JP¥367.6b. EPS estimate also fell from JP¥228 per share to JP¥190 per share. Net income forecast to grow 884% next year vs 0.7% growth forecast for Auto Components industry in Japan. Consensus price target up from JP¥4,760 to JP¥6,220. Share price fell 25% to JP¥7,020 over the past week. Buy Or Sell Opportunity • Jun 08
Now 21% undervalued Over the last 90 days, the stock has risen 156% to JP¥7,010. The fair value is estimated to be JP¥8,864, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has declined by 5.4%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. Reported Earnings • May 13
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥19.29 (down from JP¥119 in FY 2025). Revenue: JP¥347.2b (flat on FY 2025). Net income: JP¥1.26b (down 84% from FY 2025). Profit margin: 0.4% (down from 2.2% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. 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 53% per year, which means it is well ahead of earnings. Announcement • May 12
Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 26, 2026 Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 26, 2026. Announcement • May 10
Musashi Seimitsu Industry Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 Musashi Seimitsu Industry Co., Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Price Target Changed • Apr 24
Price target increased by 8.3% to JP¥3,900 Up from JP¥3,600, the current price target is an average from 5 analysts. New target price is 19% below last closing price of JP¥4,795. Stock is up 105% over the past year. The company is forecast to post earnings per share of JP¥20.51 for next year compared to JP¥119 last year. Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥23.48 to JP¥20.75 per share. Revenue forecast steady at JP¥348.6b. Net income forecast to grow 503% next year vs 8.6% growth forecast for Auto Components industry in Japan. Consensus price target down from JP¥3,690 to JP¥3,600. Share price rose 7.3% to JP¥3,045 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Major Estimate Revision • Mar 10
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥27.29 to JP¥23.48. Revenue forecast unchanged from JP¥347.6b at last update. Net income forecast to grow 537% next year vs 6.2% growth forecast for Auto Components industry in Japan. Consensus price target broadly unchanged at JP¥3,690. Share price fell 10% to JP¥2,731 over the past week. Major Estimate Revision • Mar 05
Consensus EPS estimates increase by 63% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥16.78 to JP¥27.29. Revenue forecast steady at JP¥347.6b. Net income forecast to grow 540% next year vs 6.7% growth forecast for Auto Components industry in Japan. Consensus price target down from JP¥3,750 to JP¥3,670. Share price was steady at JP¥2,814 over the past week. New Risk • Feb 13
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 8.1% 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 (8.1% average weekly change). Minor Risks High level of debt (53% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥2,244, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 30% over the past three years. New Risk • Feb 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 53% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (53% net debt to equity). 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 (6.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Reported Earnings • Feb 07
Third quarter 2026 earnings released: JP¥76.71 loss per share (vs JP¥33.52 profit in 3Q 2025) Third quarter 2026 results: JP¥76.71 loss per share (down from JP¥33.52 profit in 3Q 2025). Revenue: JP¥84.4b (up 1.5% from 3Q 2025). Net loss: JP¥5.03b (down 329% from profit in 3Q 2025). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,673, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 75% over the past three years. Announcement • Dec 02
Musashi Seimitsu Industry Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Nov 29
First half dividend of JP¥25.00 announced Dividend of JP¥25.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 7.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 109% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 18
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (48% net debt to equity). 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 (8.0% average weekly change). Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥40.68 (vs JP¥0.50 in 2Q 2025) Second quarter 2026 results: EPS: JP¥40.68 (up from JP¥0.50 in 2Q 2025). Revenue: JP¥85.5b (up 1.2% from 2Q 2025). Net income: JP¥2.67b (up JP¥2.63b from 2Q 2025). Profit margin: 3.1% (up from 0% in 2Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year. New Risk • Oct 31
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 7.8% 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 (7.8% average weekly change). Minor Risk High level of debt (52% net debt to equity). Announcement • Sep 27
Musashi Seimitsu Industry Co., Ltd. to Report Q2, 2026 Results on Nov 10, 2025 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q2, 2026 results on Nov 10, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,680, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 136% over the past three years. Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥25.43 (vs JP¥44.88 in 1Q 2025) First quarter 2026 results: EPS: JP¥25.43 (down from JP¥44.88 in 1Q 2025). Revenue: JP¥83.1b (down 6.6% from 1Q 2025). Net income: JP¥1.67b (down 43% from 1Q 2025). Profit margin: 2.0% (down from 3.3% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 24% per year. Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Dividend of JP¥25.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 1.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 7.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 104% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. COO, Risk Management Officer & Director Kenji Morisaki was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,130, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 152% over the past three years. Reported Earnings • Jun 25
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥119 (down from JP¥121 in FY 2024). Revenue: JP¥347.2b (flat on FY 2024). Net income: JP¥7.78b (down 1.8% from FY 2024). Profit margin: 2.2% (down from 2.3% in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 27% per year. Reported Earnings • May 19
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥119 (down from JP¥121 in FY 2024). Revenue: JP¥347.2b (flat on FY 2024). Net income: JP¥7.78b (down 1.8% from FY 2024). Profit margin: 2.2% (down from 2.3% in FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year and the company’s share price has also increased by 26% per year. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,951, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 138% over the past three years. Announcement • May 14
Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 26, 2025 Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 26, 2025. Price Target Changed • May 14
Price target decreased by 7.4% to JP¥4,130 Down from JP¥4,460, the current price target is an average from 5 analysts. New target price is 60% above last closing price of JP¥2,587. Stock is up 49% over the past year. The company is forecast to post earnings per share of JP¥148 for next year compared to JP¥121 last year. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,435, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 81% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). Announcement • Mar 06
Musashi Seimitsu Industry Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Musashi Seimitsu Industry Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Price Target Changed • Feb 26
Price target increased by 7.8% to JP¥4,400 Up from JP¥4,083, the current price target is an average from 5 analysts. New target price is 64% above last closing price of JP¥2,683. Stock is up 63% over the past year. The company is forecast to post earnings per share of JP¥153 for next year compared to JP¥121 last year. New Risk • Feb 20
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,810, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 70% over the past three years. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥33.52 (vs JP¥42.72 in 3Q 2024) Third quarter 2025 results: EPS: JP¥33.52 (down from JP¥42.72 in 3Q 2024). Revenue: JP¥83.2b (down 5.3% from 3Q 2024). Net income: JP¥2.20b (down 21% from 3Q 2024). Profit margin: 2.6% (down from 3.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,015, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,805, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 127% over the past three years. Announcement • Dec 05
Musashi Seimitsu Industry Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Nov 30
First half dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 1.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 97% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 16
Price target increased by 9.8% to JP¥2,617 Up from JP¥2,383, the current price target is an average from 6 analysts. New target price is 17% below last closing price of JP¥3,160. Stock is up 95% over the past year. The company is forecast to post earnings per share of JP¥178 for next year compared to JP¥121 last year. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥0.50 (vs JP¥27.72 in 2Q 2024) Second quarter 2025 results: EPS: JP¥0.50 (down from JP¥27.72 in 2Q 2024). Revenue: JP¥84.5b (down 3.1% from 2Q 2024). Net income: JP¥33.0m (down 98% from 2Q 2024). Profit margin: 0% (down from 2.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥2,195, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,932 per share. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.5%). Price Target Changed • Sep 10
Price target increased by 7.3% to JP¥2,360 Up from JP¥2,200, the current price target is an average from 5 analysts. New target price is 22% above last closing price of JP¥1,927. Stock is up 14% over the past year. The company is forecast to post earnings per share of JP¥185 for next year compared to JP¥121 last year. Announcement • Aug 31
Musashi Seimitsu Industry Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Buy Or Sell Opportunity • Aug 21
Now 22% undervalued Over the last 90 days, the stock has risen 19% to JP¥2,049. The fair value is estimated to be JP¥2,628, however this is not to be taken as a buy 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 6.9%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥44.88 (vs JP¥27.21 in 1Q 2024) First quarter 2025 results: EPS: JP¥44.88 (up from JP¥27.21 in 1Q 2024). Revenue: JP¥88.9b (up 7.9% from 1Q 2024). Net income: JP¥2.94b (up 65% from 1Q 2024). Profit margin: 3.3% (up from 2.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 5% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥1,582, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Auto Components industry in Japan. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,604 per share. New Risk • Jul 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (58% net debt to equity). 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 (5.5% average weekly change). Declared Dividend • Jul 11
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥121 (up from JP¥37.31 in FY 2023). Revenue: JP¥349.9b (up 16% from FY 2023). Net income: JP¥7.92b (up 225% from FY 2023). Profit margin: 2.3% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jun 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥1,688. The fair value is estimated to be JP¥1,388, 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 15%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Announcement • Jun 08
Musashi Seimitsu Industry Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • May 16
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥121 (up from JP¥37.31 in FY 2023). Revenue: JP¥349.9b (up 16% from FY 2023). Net income: JP¥7.92b (up 225% from FY 2023). Profit margin: 2.3% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 15
Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 27, 2024 Musashi Seimitsu Industry Co., Ltd., Annual General Meeting, Jun 27, 2024. Buy Or Sell Opportunity • May 14
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to JP¥1,727. The fair value is estimated to be JP¥1,335, however this is not to be taken as a sell 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 5.7% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Announcement • Mar 02
Musashi Seimitsu Industry Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Musashi Seimitsu Industry Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥42.72 (vs JP¥4.75 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥42.72 (up from JP¥4.75 loss in 3Q 2023). Revenue: JP¥87.8b (up 16% from 3Q 2023). Net income: JP¥2.79b (up JP¥3.10b from 3Q 2023). Profit margin: 3.2% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 29
Musashi Seimitsu Industry Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Musashi Seimitsu Industry Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: JP¥27.72 (up from JP¥9.28 in 2Q 2023). Revenue: JP¥87.1b (up 12% from 2Q 2023). Net income: JP¥1.81b (up 199% from 2Q 2023). Profit margin: 2.1% (up from 0.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 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¥1,714, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,127 per share. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥15.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 44% and the cash payout ratio is 77%. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%).