Declared Dividend • Jul 31
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 29th September 2026 Payment date: 1st December 2026 Dividend yield will be 4.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Jun 03
Shinagawa Refra Co., Ltd. to Report Q1, 2027 Results on Aug 10, 2026 Shinagawa Refra Co., Ltd. announced that they will report Q1, 2027 results at 9:00 AM, Tokyo Standard Time on Aug 10, 2026 Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥571 (vs JP¥214 in FY 2025) Full year 2026 results: EPS: JP¥571 (up from JP¥214 in FY 2025). Revenue: JP¥177.7b (up 23% from FY 2025). Net income: JP¥26.1b (up 167% from FY 2025). Profit margin: 15% (up from 6.8% in FY 2025). Over the last 3 years on average, earnings per share has increased by 25% per year and the company’s share price has also increased by 25% per year. Ankündigung • May 15
Shinagawa Refra Co., Ltd., Annual General Meeting, Jun 25, 2026 Shinagawa Refra Co., Ltd., Annual General Meeting, Jun 25, 2026. Ankündigung • May 09
Shinagawa Refra Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Shinagawa Refra Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Buy Or Sell Opportunity • Apr 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.3% to JP¥2,106. The fair value is estimated to be JP¥2,669, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 22%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Buy Or Sell Opportunity • Mar 09
Now 20% undervalued Over the last 90 days, the stock has risen 16% to JP¥2,213. The fair value is estimated to be JP¥2,782, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 22%. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥562 (vs JP¥66.09 in 3Q 2025) Third quarter 2026 results: EPS: JP¥562 (up from JP¥66.09 in 3Q 2025). Revenue: JP¥48.2b (up 31% from 3Q 2025). Net income: JP¥25.6b (up JP¥22.6b from 3Q 2025). Profit margin: 53% (up from 8.2% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jan 23
Shinagawa Refra Co., Ltd. (TSE:5351) entered into agreement to acquire 51% stake in Dynamix Casting Fluxes, Llc from Michael Kiss and other founders for $38.3 million. Shinagawa Refra Co., Ltd. (TSE:5351) entered into agreement to acquire 51% stake in Dynamix Casting Fluxes, Llc from Michael Kiss and other founders for $38.3 million on January 22, 2026. A cash consideration of $38.3 million will be paid by Shinagawa Refra Co., Ltd. As part of consideration, $38.3 million is paid towards common equity of Dynamix Casting Fluxes, Llc. Declared Dividend • Dec 02
First half dividend of JP¥45.00 announced Dividend of JP¥45.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 4.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Nov 29
Shinagawa Refra Co., Ltd. to Report Q3, 2026 Results on Feb 05, 2026 Shinagawa Refra Co., Ltd. announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥56.68 (vs JP¥43.80 in 2Q 2025) Second quarter 2026 results: EPS: JP¥56.68 (up from JP¥43.80 in 2Q 2025). Revenue: JP¥43.6b (up 27% from 2Q 2025). Net income: JP¥2.59b (up 30% from 2Q 2025). Profit margin: 5.9% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Nov 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.8% to JP¥1,840. The fair value is estimated to be JP¥2,306, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 14%. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued Over the last 90 days, the stock has risen 11% to JP¥1,883. The fair value is estimated to be JP¥2,354, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 14%. Buy Or Sell Opportunity • Oct 07
Now 20% undervalued Over the last 90 days, the stock has risen 13% to JP¥1,875. The fair value is estimated to be JP¥2,355, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 14%. Ankündigung • Sep 02
Shinagawa Refractories Co., Ltd. to Report Q2, 2026 Results on Nov 11, 2025 Shinagawa Refractories Co., Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥38.53 (vs JP¥63.93 in 1Q 2025) First quarter 2026 results: EPS: JP¥38.53 (down from JP¥63.93 in 1Q 2025). Revenue: JP¥38.3b (up 13% from 1Q 2025). Net income: JP¥1.76b (down 40% from 1Q 2025). Profit margin: 4.6% (down from 8.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% 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. This is currently the only risk that has been identified for the company. Declared Dividend • Jul 09
Final dividend of JP¥45.00 announced Dividend of JP¥45.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 5.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Jun 27
Shinagawa Refractories Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Shinagawa Refractories Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥214 (vs JP¥328 in FY 2024) Full year 2025 results: EPS: JP¥214 (down from JP¥328 in FY 2024). Revenue: JP¥144.1b (flat on FY 2024). Net income: JP¥9.78b (down 36% from FY 2024). Profit margin: 6.8% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 15
Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 26, 2025 Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 26, 2025. 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¥1,404, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 10x in the Basic Materials industry in Japan. Total returns to shareholders of 122% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Ankündigung • Mar 20
Shinagawa Refractories Co., Ltd. (TSE:5351) agreed to acquire 60% stake in Reframax Engenharia S/A from three individuals for BRL 1 billion. Shinagawa Refractories Co., Ltd. (TSE:5351) agreed to acquire 60% stake in Reframax Engenharia S/A from three individuals for BRL 1 billion on March 19, 2025. Transaction values Reframax at BRL 1 billion on a debt-free, cash-free basis. The sellers are three individuals, who are part of the founding family of Reframax. Upon completion of the Transaction, Shinagawa will indirectly hold 60% of the issued share capital of Reframax. This acquisition will enhance Shinagawa’s presence in Americas, aligning with its Vision 2030 strategy for global expansion. Through this transaction, Shinagawa will acquire a controlling stake in Reframax. However, Reframax's existing management team will continue to lead the company post transaction, with oversight and strategic input from a newly constituted board of directors comprising representatives from both Shinagawa and the Founding Family. This new joint management and governance structure will ensure that Reframax maintains its market position and outstanding customer service in the South American refractories engineering market, whilst simultaneously leveraging on the engineering expertise and operational knowhow that Shinagawa has developed through its long-standing presence in the Japanese market. The transaction is subject to customary regulatory approvals, including clearance under Brazilian antitrust regulations. Following these approvals, closing is expected within Q1 FY 2025.
Shinagawa has been assisted in this acquisition by Houlihan Lokey and Brasilpar (Financial Advisors) and Demarest (Legal Advisor). Ankündigung • Mar 04
Shinagawa Refractories Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 Shinagawa Refractories Co., Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 New Risk • Feb 07
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 41% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Declared Dividend • Dec 03
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 5.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (15% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Nov 30
Shinagawa Refractories Co., Ltd. to Report Q3, 2025 Results on Feb 06, 2025 Shinagawa Refractories Co., Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥43.80 (vs JP¥53.33 in 2Q 2024) Second quarter 2025 results: EPS: JP¥43.80 (down from JP¥53.33 in 2Q 2024). Revenue: JP¥34.4b (down 4.6% from 2Q 2024). Net income: JP¥2.00b (down 20% from 2Q 2024). Profit margin: 5.8% (down from 6.9% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year and the company’s share price has also increased by 32% per year. Ankündigung • Oct 24
Shinagawa Refractories Co., Ltd. (TSE:5351) acquired Gouda Refractories B.V. from Andus Group BV for approximately €140 million. Shinagawa Refractories Co., Ltd. (TSE:5351) signed an agreement to acquire Gouda Refractories B.V. from Andus Group BV for approximately €140 million on October 24, 2024. Shinagawa Refractories acquired 18,000 shares of Gouda Refractories. The Company's board of directors meeting held today to enter into an agreement regarding the Share Acquisition and to borrow funds associated with the Share Acquisition. For December 31, 2023, Gouda Refractories has Consolidated net assets of €19.2 million, Consolidated total assets of €57.1 million, Consolidated sales of €103.7 million, Consolidated operating profit of €11.2 million.
Shinagawa Refractories Co., Ltd. (TSE:5351) completed the acquisition of Gouda Refractories B.V. from Andus Group BV on October 24, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Ankündigung • Aug 28
Shinagawa Refractories Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Shinagawa Refractories Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥63.93 (vs JP¥148 in 1Q 2024) First quarter 2025 results: EPS: JP¥63.93 (down from JP¥148 in 1Q 2024). Revenue: JP¥33.9b (down 7.6% from 1Q 2024). Net income: JP¥2.91b (down 58% from 1Q 2024). Profit margin: 8.6% (down from 19% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,446, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Basic Materials industry in Japan. Total returns to shareholders of 103% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 33% over the next 2 years. However, it would need to fall by 74% to increase the payout ratio to a potentially unsustainable range. Ankündigung • Jun 02
Shinagawa Refractories Co., Ltd. to Report Q1, 2025 Results on Aug 05, 2024 Shinagawa Refractories Co., Ltd. announced that they will report Q1, 2025 results on Aug 05, 2024 Reported Earnings • May 16
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥328 (up from JP¥178 in FY 2023). Revenue: JP¥144.2b (up 15% from FY 2023). Net income: JP¥15.3b (up 84% from FY 2023). Profit margin: 11% (up from 6.6% in FY 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to stay flat during the next 2 years compared to a 3.3% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Ankündigung • May 15
Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 27, 2024 Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.4%). Price Target Changed • Mar 02
Price target increased by 12% to JP¥2,190 Up from JP¥1,950, the current price target is provided by 1 analyst. New target price is 8.5% above last closing price of JP¥2,018. Stock is up 115% over the past year. The company is forecast to post earnings per share of JP¥342 for next year compared to JP¥178 last year. Ankündigung • Mar 02
Shinagawa Refractories Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Shinagawa Refractories Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥68.90 (vs JP¥40.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥68.90 (up from JP¥40.87 in 3Q 2023). Revenue: JP¥36.4b (up 9.4% from 3Q 2023). Net income: JP¥3.18b (up 66% from 3Q 2023). Profit margin: 8.7% (up from 5.7% in 3Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year whereas the company’s share price has increased by 55% per year. Ankündigung • Feb 03
Shinagawa Refractories Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2024 Shinagawa Refractories Co., Ltd. provided consolidated earnings guidance for the year ending March 31, 2024. For the year ending March 31, 2024, the company expects net sales of JPY 145,000 million, operating profit of JPY 14,500 million and profit attributable to owners of parent of JPY 15,000 million or JPY 323.11 per basic share. Ankündigung • Dec 07
Shinagawa Refractories Co., Ltd. to Report Q3, 2024 Results on Feb 02, 2024 Shinagawa Refractories Co., Ltd. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: JP¥36.0b (up 15% from 2Q 2023). Net income: JP¥2.50b (down 6.5% from 2Q 2023). Profit margin: 6.9% (down from 8.5% in 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Ankündigung • Nov 04
Shinagawa Refractories Co., Ltd. (TSE:5351) announces an Equity Buyback for 1,250,000 shares, representing 2.67% for ¥2,250 million. Shinagawa Refractories Co., Ltd. (TSE:5351) announces a share repurchase program. Under the program, the company will repurchase 1,250,000 shares, representing 2.67% of its issued share capital (excluding treasury stock), for ¥2,250 million. The purpose of the program is to enhance the return of profits to shareholders, increase the value per share, and implement flexible capital policies in response to changes in the business environment. The program will run until March 31, 2024. As of September 30, 2023, the company had 46,783,690 shares in issue (excluding treasury stock) and 363,140 shares in treasury. Ankündigung • Oct 20
An unknown buyer agreed to acquire a 49% stake in SG Shinagawa Refractories India Private Limited from Grindwell Norton Limited (BSE:506076) for INR 80 million An unknown buyer agreed to acquire a 49% stake in SG Shinagawa Refractories India Private Limited from Grindwell Norton Limited (BSE:506076) for INR 80 million on October 19, 2023. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,393, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 229% over the past three years. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥160 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.6%). Ankündigung • Aug 30
Shinagawa Refractories Co., Ltd. to Report Q2, 2024 Results on Nov 02, 2023 Shinagawa Refractories Co., Ltd. announced that they will report Q2, 2024 results on Nov 02, 2023 New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥742 (vs JP¥205 in 1Q 2023) First quarter 2024 results: EPS: JP¥742 (up from JP¥205 in 1Q 2023). Revenue: JP¥36.7b (up 24% from 1Q 2023). Net income: JP¥6.94b (up 262% from 1Q 2023). Profit margin: 19% (up from 6.5% in 1Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Basic Materials industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥7,300, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 285% over the past three years. New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Ankündigung • Jun 09
Shinagawa Refractories Co., Ltd. to Report Q1, 2024 Results on Aug 03, 2023 Shinagawa Refractories Co., Ltd. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 13
Full year 2023 earnings released: EPS: JP¥888 (vs JP¥568 in FY 2022) Full year 2023 results: EPS: JP¥888 (up from JP¥568 in FY 2022). Revenue: JP¥125.0b (up 13% from FY 2022). Net income: JP¥8.31b (up 56% from FY 2022). Profit margin: 6.6% (up from 4.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 11
Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 29, 2023 Shinagawa Refractories Co., Ltd., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 14% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 03
Third quarter 2023 earnings released: EPS: JP¥204 (vs JP¥212 in 3Q 2022) Third quarter 2023 results: EPS: JP¥204 (down from JP¥212 in 3Q 2022). Revenue: JP¥33.3b (up 10% from 3Q 2022). Net income: JP¥1.91b (down 3.4% from 3Q 2022). Profit margin: 5.7% (down from 6.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Ankündigung • Nov 27
Shinagawa Refractories Co., Ltd. to Report Q3, 2023 Results on Feb 02, 2023 Shinagawa Refractories Co., Ltd. announced that they will report Q3, 2023 results on Feb 02, 2023 Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 10 non-independent directors. Director Keiko Yamahira was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: JP¥285 (vs JP¥148 in 2Q 2022) Second quarter 2023 results: EPS: JP¥285 (up from JP¥148 in 2Q 2022). Revenue: JP¥31.4b (up 18% from 2Q 2022). Net income: JP¥2.67b (up 93% from 2Q 2022). Profit margin: 8.5% (up from 5.2% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Ankündigung • Sep 28
Shinagawa Refractories Co., Ltd. to Report Q2, 2023 Results on Nov 02, 2022 Shinagawa Refractories Co., Ltd. announced that they will report Q2, 2023 results on Nov 02, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 5.1%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥205 (vs JP¥232 in 1Q 2022) First quarter 2023 results: EPS: JP¥205 (down from JP¥232 in 1Q 2022). Revenue: JP¥29.7b (up 15% from 1Q 2022). Net income: JP¥1.92b (down 11% from 1Q 2022). Profit margin: 6.5% (down from 8.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jun 01
Shinagawa Refractories Co., Ltd. to Report Q1, 2023 Results on Aug 04, 2022 Shinagawa Refractories Co., Ltd. announced that they will report Q1, 2023 results on Aug 04, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥568 (vs JP¥226 in FY 2021) Full year 2022 results: EPS: JP¥568 (up from JP¥226 in FY 2021). Revenue: JP¥110.8b (up 11% from FY 2021). Net income: JP¥5.31b (up 151% from FY 2021). Profit margin: 4.8% (up from 2.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Managing Executive Officer & Director Hirofumi Yamashita was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.