Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥3,920, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,021 per share. New Risk • Jun 06
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 9.2% 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 Risks Share price has been highly volatile over the past 3 months (9.2% average weekly change). High level of non-cash earnings (31% accrual ratio). Major Estimate Revision • Jun 05
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has improved. 2027 revenue forecast increased from JP¥27.7b to JP¥28.8b. EPS estimate increased from JP¥155 to JP¥177 per share. Net income forecast to shrink 4.9% next year vs 30% growth forecast for Semiconductor industry in Japan . Consensus price target of JP¥4,160 unchanged from last update. Share price rose 5.2% to JP¥3,965 over the past week. Reported Earnings • May 30
First quarter 2027 earnings released: EPS: JP¥57.08 (vs JP¥37.16 in 1Q 2026) First quarter 2027 results: EPS: JP¥57.08 (up from JP¥37.16 in 1Q 2026). Revenue: JP¥7.49b (up 14% from 1Q 2026). Net income: JP¥1.86b (up 54% from 1Q 2026). Profit margin: 25% (up from 18% in 1Q 2026). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Semiconductor 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 only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,750, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,097 per share. Reported Earnings • Mar 14
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥170 (up from JP¥153 in FY 2025). Revenue: JP¥23.9b (up 26% from FY 2025). Net income: JP¥5.52b (up 11% from FY 2025). Profit margin: 23% (down from 26% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥3,085, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 28% over the past three years. Upcoming Dividend • Jan 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 27 April 2026. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (0.9%). Reported Earnings • Nov 30
Third quarter 2026 earnings released: EPS: JP¥38.30 (vs JP¥36.79 in 3Q 2025) Third quarter 2026 results: EPS: JP¥38.30 (up from JP¥36.79 in 3Q 2025). Revenue: JP¥5.64b (up 9.8% from 3Q 2025). Net income: JP¥1.24b (up 4.1% from 3Q 2025). Profit margin: 22% (down from 23% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,055, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,640, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,982 per share. New Risk • Sep 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 8.4% 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. This is currently the only risk that has been identified for the company. Declared Dividend • Sep 01
Dividend of JP¥35.00 announced Dividend of JP¥35.00 is the same as last year. Ex-date: 29th January 2026 Payment date: 25th April 2026 Dividend yield will be 1.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (20% 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 27% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 31
Second quarter 2026 earnings released: EPS: JP¥48.26 (vs JP¥37.51 in 2Q 2025) Second quarter 2026 results: EPS: JP¥48.26 (up from JP¥37.51 in 2Q 2025). Revenue: JP¥5.81b (up 24% from 2Q 2025). Net income: JP¥1.57b (up 29% from 2Q 2025). Profit margin: 27% (up from 26% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 29
Tri Chemical Laboratories Inc. Revises Consolidated Earnings Guidance for the Fiscal Year Ending January 31, 2026 Tri Chemical Laboratories Inc. revised consolidated earnings guidance for the fiscal year ending January 31, 2026. For the year, the company revised net sales of JPY 23,000 million, operating profit of JPY 5,500 million, profit attributable to owners of parent of JPY 4,800 million or JPY 147.71 basic earnings per share compared to previous guidance of net sales of JPY 26,000 million, operating profit of JPY 6,050 million, profit attributable to owners of parent of JPY 5,000 million or JPY 153.86 basic earnings per share. Reason for revisions: Performance for the fiscal year ending January 31, 2026, is likely to fall short of initial forecasts, mainly due to lower-than-expected shipments of High-k materials. Although demand remains strong, particularly for advanced semiconductors, certain major customers in China foresee a significant reduction in their consumption of materials relative to production volume as they streamline semiconductor production and plan to reduce their current inventories. The Company expects operating profit, ordinary profit, and profit attributable to owners of parent to also fall below forecasts, mainly because of a decline in sales. For these reasons, the Company has revised its consolidated financial results forecasts for the fiscal year ending January 31, 2026. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,330, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Semiconductor industry in Japan. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,132 per share. Reported Earnings • Jun 02
First quarter 2026 earnings released: EPS: JP¥37.14 (vs JP¥24.99 in 1Q 2025) First quarter 2026 results: EPS: JP¥37.14 (up from JP¥24.99 in 1Q 2025). Revenue: JP¥6.57b (up 101% from 1Q 2025). Net income: JP¥1.21b (up 49% from 1Q 2025). Profit margin: 18% (down from 25% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Apr 28
Price target decreased by 7.3% to JP¥4,320 Down from JP¥4,660, the current price target is an average from 5 analysts. New target price is 69% above last closing price of JP¥2,560. Stock is down 41% over the past year. The company is forecast to post earnings per share of JP¥169 for next year compared to JP¥153 last year. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,222, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Semiconductor industry in Japan. Total loss to shareholders of 18% over the past three years. New Risk • Mar 24
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 7.5% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.5% average weekly change). High level of non-cash earnings (21% accrual ratio). Major Estimate Revision • Mar 21
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from JP¥22.3b to JP¥23.6b. EPS estimate fell from JP¥191 to JP¥162 per share. Net income forecast to grow 14% next year vs 0.3% growth forecast for Semiconductor industry in Japan. Consensus price target of JP¥4,560 unchanged from last update. Share price fell 9.8% to JP¥3,085 over the past week. Announcement • Mar 16
Tri Chemical Laboratories Inc. Provides Dividend Guidance for the Year Ending January 31, 2026 Tri Chemical Laboratories Inc. provided dividend guidance for the year ending January 31, 2026. For the year, the company expects to pay dividend of JPY 35.00 per share against JPY 35.00 per share a year ago. Reported Earnings • Mar 15
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: JP¥153 (up from JP¥76.01 in FY 2024). Revenue: JP¥18.9b (up 68% from FY 2024). Net income: JP¥4.96b (up 101% from FY 2024). Profit margin: 26% (up from 22% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,895, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,278 per share. Upcoming Dividend • Jan 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 28 April 2025. Payout ratio is a comfortable 25% and the cash payout ratio is 80%. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥3,390, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Semiconductor industry in Japan. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,899 per share. Price Target Changed • Jan 07
Price target decreased by 8.9% to JP¥4,580 Down from JP¥5,025, the current price target is an average from 5 analysts. New target price is 47% above last closing price of JP¥3,110. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥144 for next year compared to JP¥76.01 last year. Price Target Changed • Dec 05
Price target decreased by 17% to JP¥5,025 Down from JP¥6,075, the current price target is an average from 4 analysts. New target price is 70% above last closing price of JP¥2,954. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥141 for next year compared to JP¥76.01 last year. Reported Earnings • Dec 04
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: JP¥36.77 (up from JP¥12.16 in 3Q 2024). Revenue: JP¥5.13b (up 98% from 3Q 2024). Net income: JP¥1.20b (up 203% from 3Q 2024). Profit margin: 23% (up from 15% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 09
Dividend of JP¥30.00 announced Dividend of JP¥30.00 is the same as last year. Ex-date: 30th January 2025 Payment date: 28th April 2025 Dividend yield will be 1.0%, which is about the same as the industry average. Announcement • Sep 28
Tri Chemical Laboratories Inc. to Report Q3, 2025 Results on Nov 29, 2024 Tri Chemical Laboratories Inc. announced that they will report Q3, 2025 results on Nov 29, 2024 Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥3,210, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total loss to shareholders of 13% over the past three years. Announcement • Sep 04
Tri Chemical Laboratories Inc. Provides Consolidated Earnings Guidance for the Full Fiscal Year Ending January 31, 2025 Tri Chemical Laboratories Inc. provided consolidated earnings guidance for the full fiscal year ending January 31, 2025. For the period, the company expects net sales to be JPY 17,000 million, operating profit to be JPY 3,900 million and profit attributable to owners of parent to be JPY 4,260 million or JPY 131.09 per basic share. Reported Earnings • Sep 01
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥37.51 (up from JP¥14.19 in 2Q 2024). Revenue: JP¥4.70b (up 96% from 2Q 2024). Net income: JP¥1.22b (up 164% from 2Q 2024). Profit margin: 26% (up from 19% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) also surpassed analyst estimates by 43%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 3% 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 24% After last week's 24% share price decline to JP¥2,665, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total loss to shareholders of 17% over the past three years. New Risk • Aug 02
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 7.4% 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 (7.4% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (20% net profit margin). Price Target Changed • Jul 31
Price target decreased by 10% to JP¥6,025 Down from JP¥6,700, the current price target is an average from 4 analysts. New target price is 61% above last closing price of JP¥3,735. Stock is up 40% over the past year. The company is forecast to post earnings per share of JP¥130 for next year compared to JP¥76.01 last year. Announcement • Jun 30
Tri Chemical Laboratories Inc. to Report Q2, 2025 Results on Aug 30, 2024 Tri Chemical Laboratories Inc. announced that they will report Q2, 2025 results on Aug 30, 2024 Price Target Changed • Jun 21
Price target increased by 12% to JP¥6,700 Up from JP¥6,000, the current price target is an average from 3 analysts. New target price is 62% above last closing price of JP¥4,130. Stock is up 64% over the past year. The company is forecast to post earnings per share of JP¥129 for next year compared to JP¥76.01 last year. Announcement • Jun 06
Tri Chemical Laboratories Inc. Provides Dividend Guidance for the Fiscal Year Ending January 31, 2025 Tri Chemical Laboratories Inc. provided dividend guidance for the fiscal year ending January 31, 2025. For the year, the company expects to pay year end dividend of JPY 30.00 per share compared to JPY 30.00 per share a year ago. Reported Earnings • Jun 01
First quarter 2025 earnings released: EPS: JP¥24.99 (vs JP¥30.53 in 1Q 2024) First quarter 2025 results: EPS: JP¥24.99 (down from JP¥30.53 in 1Q 2024). Revenue: JP¥3.27b (up 1.4% from 1Q 2024). Net income: JP¥812.0m (down 18% from 1Q 2024). Profit margin: 25% (down from 31% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Apr 04
Tri Chemical Laboratories Inc. to Report Q1, 2025 Results on May 31, 2024 Tri Chemical Laboratories Inc. announced that they will report Q1, 2025 results on May 31, 2024 Buy Or Sell Opportunity • Apr 01
Now 22% undervalued Over the last 90 days, the stock has risen 25% to JP¥4,525. The fair value is estimated to be JP¥5,786, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 4.6%. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. Announcement • Mar 18
Tri Chemical Laboratories Inc., Annual General Meeting, Apr 25, 2024 Tri Chemical Laboratories Inc., Annual General Meeting, Apr 25, 2024. Reported Earnings • Mar 17
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥76.01 (down from JP¥149 in FY 2023). Revenue: JP¥11.2b (down 19% from FY 2023). Net income: JP¥2.47b (down 49% from FY 2023). Profit margin: 22% (down from 35% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor 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 11% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to JP¥4,930. The fair value is estimated to be JP¥4,102, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 56% in 2 years. Earnings are forecast to grow by 131% in the next 2 years. Price Target Changed • Mar 12
Price target increased by 9.5% to JP¥5,200 Up from JP¥4,750, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of JP¥4,730. Stock is up 98% over the past year. The company is forecast to post earnings per share of JP¥76.31 for next year compared to JP¥149 last year. Announcement • Jan 24
Tri Chemical Laboratories Inc. to Report Fiscal Year 2024 Results on Mar 15, 2024 Tri Chemical Laboratories Inc. announced that they will report fiscal year 2024 results on Mar 15, 2024 Upcoming Dividend • Jan 23
Upcoming dividend of JP¥30.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.0%). Buy Or Sell Opportunity • Jan 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to JP¥3,975. The fair value is estimated to be JP¥3,276, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 151% in the next 2 years. Reported Earnings • Dec 03
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: JP¥12.16 (down from JP¥51.42 in 3Q 2023). Revenue: JP¥2.59b (down 28% from 3Q 2023). Net income: JP¥395.0m (down 76% from 3Q 2023). Profit margin: 15% (down from 47% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Price Target Changed • Dec 01
Price target increased by 18% to JP¥4,500 Up from JP¥3,800, the current price target is an average from 3 analysts. New target price is 20% above last closing price of JP¥3,745. Stock is up 50% over the past year. The company is forecast to post earnings per share of JP¥82.08 for next year compared to JP¥149 last year. Buying Opportunity • Nov 08
Now 21% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be JP¥4,117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 9.9%. Revenue is forecast to grow by 30% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. New Risk • Oct 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% 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. Buying Opportunity • Oct 13
Now 22% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be JP¥4,137, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 9.9%. Revenue is forecast to grow by 29% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. Announcement • Oct 05
Tri Chemical Laboratories Inc. to Report Q3, 2024 Results on Nov 30, 2023 Tri Chemical Laboratories Inc. announced that they will report Q3, 2024 results on Nov 30, 2023 Price Target Changed • Sep 26
Price target increased by 7.0% to JP¥3,800 Up from JP¥3,550, the current price target is an average from 3 analysts. New target price is 21% above last closing price of JP¥3,130. Stock is up 63% over the past year. The company posted earnings per share of JP¥149 last year. Major Estimate Revision • Sep 07
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥14.1b to JP¥11.8b. EPS estimate fell from JP¥123 to JP¥83.85 per share. Net income forecast to grow 3.9% next year vs 5.4% decline forecast for Semiconductor industry in Japan. Consensus price target up from JP¥3,550 to JP¥3,717. Share price rose 3.4% to JP¥2,846 over the past week. 
