Valuation Update With 7 Day Price Move • 4h
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €64.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Chemicals industry in Germany. Total returns to shareholders of 361% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €73.21 per share. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €82.50, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Chemicals industry in Germany. Total returns to shareholders of 490% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €80.07 per share. Buy Or Sell Opportunity • Jul 01
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 77% to €100.00. The fair value is estimated to be €80.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 1.3% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. Buy Or Sell Opportunity • Jun 16
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 74% to €100.00. The fair value is estimated to be €78.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 53%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €80.00, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Chemicals industry in Germany. Total returns to shareholders of 468% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €74.06 per share. New Risk • May 27
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 German stocks, typically moving 13% 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (13% average weekly change). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Izumi Sakakibara was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • May 14
Resonac Holdings Corporation to Report Fiscal Year 2026 Results on Feb 15, 2027 Resonac Holdings Corporation announced that they will report fiscal year 2026 results at 6:30 AM, Coordinated Universal Time on Feb 15, 2027 Anuncio • Feb 18
Resonac Holdings Corporation to Report Q1, 2026 Results on May 13, 2026 Resonac Holdings Corporation announced that they will report Q1, 2026 results at 3:30 PM, Tokyo Standard Time on May 13, 2026 Anuncio • Nov 15
Resonac Holdings Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Resonac Holdings Corporation announced that they will report fiscal year 2025 results at 3:30 PM, Tokyo Standard Time on Feb 13, 2026 Anuncio • Jul 02
RCapital Partners LLP acquired F2 Chemicals Ltd from Resonac Holdings Corporation (TSE:4004). RCapital Partners LLP acquired F2 Chemicals Ltd from Resonac Holdings Corporation (TSE:4004) on June 30, 2025.
RCapital Partners LLP completed the acquisition of F2 Chemicals Ltd from Resonac Holdings Corporation (TSE:4004) on June 30, 2025. Anuncio • Mar 17
Resonac Holdings Corporation to Report Q3, 2025 Results on Nov 13, 2025 Resonac Holdings Corporation announced that they will report Q3, 2025 results on Nov 13, 2025 Anuncio • Feb 14
Resonac Holdings Corporation to Report Q2, 2025 Results on Aug 07, 2025 Resonac Holdings Corporation announced that they will report Q2, 2025 results on Aug 07, 2025 Anuncio • Feb 13
Resonac Holdings Corporation, Annual General Meeting, Mar 26, 2025 Resonac Holdings Corporation, Annual General Meeting, Mar 26, 2025. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: JP¥68.21 (vs JP¥74.25 in 3Q 2023) Third quarter 2024 results: EPS: JP¥68.21 (down from JP¥74.25 in 3Q 2023). Revenue: JP¥359.0b (up 10% from 3Q 2023). Net income: JP¥12.3b (down 8.4% from 3Q 2023). Profit margin: 3.4% (down from 4.1% in 3Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Anuncio • Nov 13
Resonac Holdings Corporation to Report Q1, 2025 Results on May 15, 2025 Resonac Holdings Corporation announced that they will report Q1, 2025 results on May 15, 2025 Anuncio • Sep 20
Resonac Corporation Develops Temporary Bonding Film and New Debonding Process for Advanced Semiconductor Packages Resonac Corporation has developed a temporary bonding film to be used for supporting a wafer on a glass carrier temporarily in the semiconductor device fabrication process (front-end process) and semiconductor packaging process (back-end process), as well as its debonding process. This debonding process uses xenon (Xe) flash light irradiation to debond the wafer or package from the carrier and can be applied from wafer level to panel level processing. It also should be noted that Debonding is completed in a shorter time as compared to the conventional laser ablation method without producing foreign substances such as soot. This technology has been patented in Japan, the United States, Korea, China, and Taiwan region. Easy removal of temporary bonding film by peeling off. Therefore, the performance of the temporary bonding material must be compatible with all fabrication processes, and the residual temporary bonding material must be easily removed. Additionally, debonding process must be completed in a short time without damaging them to achieve high yield and productivity. Furthermore, even the back-end process is now required to be as clean as the front-end process. Therefore, the soot which is generated by the conventional laser ablation debonding method has not been preferable. Resonac's temporary debonding film with high heat resistance and chemical resistance exhibits sufficient adhesion performance when wafers and packages are temporarily supported on the carrier. Once they are debonded from the carrier, the film can be removed easily by peeling at room temperature without any residues. The process for debonded the wafer from the carrier adopts Xe flash light irradiation, which allows for large-area batch irradiation and instantaneous high energy output. Instant deformation induced by locally heating a metal layer on the glass carrier with Xe flash light irradiation enables quick debonded of wafers and packages without applying heat or mechanical stress. In addition, as the debonding mechanism is not related to resin decision, this method has the advantage of being a clean process that does not generate any foreign substances, such as soot generated during laser ablation. Resonac believes that this temporary bonding film and new debonding method are suitable for the fabrication process for memory, logic, and power semiconductors as well as advanced semiconductor packages. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: JP¥63.00 (vs JP¥41.71 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥63.00 (up from JP¥41.71 loss in 2Q 2023). Revenue: JP¥347.2b (up 9.4% from 2Q 2023). Net income: JP¥11.4b (up JP¥18.9b from 2Q 2023). Profit margin: 3.3% (up from net loss in 2Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Anuncio • Aug 09
Resonac Holdings Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Resonac Holdings Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 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 €16.30, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 24% over the past three years. New Risk • Jun 06
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 German stocks, typically moving 7.1% 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 Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks 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 (7.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: JP¥150 (vs JP¥67.71 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥150 (up from JP¥67.71 loss in 1Q 2023). Revenue: JP¥321.4b (up 7.5% from 1Q 2023). Net income: JP¥27.1b (up JP¥39.3b from 1Q 2023). Profit margin: 8.4% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Anuncio • May 16
Resonac Holdings Corporation Provides Earnings Guidance for the First Half and Fiscal Year Ending December 31, 2024 Resonac Holdings Corporation provided earnings guidance for the first half and fiscal year ending December 31, 2024. For the first half, the company expected net sales to be JPY 670,000 million, Operating income to be JPY 14,000 million.For the year, the company expected net sales to be JPY 1,360,000 million, Operating income to be JPY 47,000 million, Net income attributable to owners of the parent of JPY 25,000 million, and Net income attributable to owners of the parent per share: Basic of JPY 138.34. Reported Earnings • Mar 30
Full year 2023 earnings released: JP¥105 loss per share (vs JP¥170 profit in FY 2022) Full year 2023 results: JP¥105 loss per share (down from JP¥170 profit in FY 2022). Revenue: JP¥1.29t (down 7.5% from FY 2022). Net loss: JP¥19.0b (down 162% from profit in FY 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Anuncio • Feb 16
Resonac Holdings Corporation, Annual General Meeting, Mar 26, 2024 Resonac Holdings Corporation, Annual General Meeting, Mar 26, 2024. Reported Earnings • Feb 16
Full year 2023 earnings released: JP¥105 loss per share (vs JP¥170 profit in FY 2022) Full year 2023 results: JP¥105 loss per share (down from JP¥170 profit in FY 2022). Revenue: JP¥1.29t (down 7.5% from FY 2022). Net loss: JP¥19.0b (down 162% from profit in FY 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Anuncio • Feb 15
Resonac Holdings Corporation to Report Q1, 2024 Results on May 15, 2024 Resonac Holdings Corporation announced that they will report Q1, 2024 results at 3:00 PM, Tokyo Standard Time on May 15, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥65.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 31 March 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.7%). Anuncio • Dec 05
Resonac Holdings Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Resonac Holdings Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 Anuncio • Nov 21
Resonac Holdings Corporation Announces Board Resignations Resonac Holdings Corporation decided at its board of directors meeting November 21, 2023 on changes in corporate management (directors and audit & supervisory board members): Kohei Morikawa (Representative Director; Chairman of the Board) will resign as Representative Director. Keiichi Kamiguchi (Board Director; Managing Corporate Officer; Chief Risk Management Officer (CRO)) will resign as Board Director at the General Meeting of Shareholders in late March 2024. Kiyoshi Nishioka (Outside Board Director) will resign as Outside Board Director at the General Meeting of Shareholders in late March 2024. Jun Tanaka (Audit & Supervisory Board Member) will resign as Audit & Supervisory Board Member at the General Meeting of Shareholders in late March 2024. Kiyomi Saito (Outside Member of Audit & Supervisory Board) will resign as Outside Member of Audit & Supervisory Board at the General Meeting of Shareholders in late March 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: JP¥74.25 (vs JP¥20.56 in 3Q 2022) Third quarter 2023 results: EPS: JP¥74.25 (up from JP¥20.56 in 3Q 2022). Revenue: JP¥326.2b (down 14% from 3Q 2022). Net income: JP¥13.5b (up 261% from 3Q 2022). Profit margin: 4.1% (up from 1.0% in 3Q 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Anuncio • Aug 27
Resonac Holdings Corporation to Report Q3, 2023 Results on Nov 09, 2023 Resonac Holdings Corporation announced that they will report Q3, 2023 results on Nov 09, 2023 Reported Earnings • Aug 09
Second quarter 2023 earnings released: JP¥41.70 loss per share (vs JP¥129 profit in 2Q 2022) Second quarter 2023 results: JP¥41.70 loss per share (down from JP¥129 profit in 2Q 2022). Revenue: JP¥317.2b (down 8.9% from 2Q 2022). Net loss: JP¥7.55b (down 132% from profit in 2Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Anuncio • Jun 01
Resonac Holdings Corporation to Report Q2, 2023 Results on Aug 08, 2023 Resonac Holdings Corporation announced that they will report Q2, 2023 results on Aug 08, 2023 Reported Earnings • May 17
First quarter 2023 earnings released: JP¥67.71 loss per share (vs JP¥46.58 profit in 1Q 2022) First quarter 2023 results: JP¥67.71 loss per share (down from JP¥46.58 profit in 1Q 2022). Revenue: JP¥298.9b (down 2.9% from 1Q 2022). Net loss: JP¥12.3b (down 245% from profit in 1Q 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Anuncio • Feb 16
Resonac Holdings Corporation, Annual General Meeting, Mar 30, 2023 Resonac Holdings Corporation, Annual General Meeting, Mar 30, 2023. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: JP¥170 (vs JP¥77.40 loss in FY 2021) Full year 2022 results: EPS: JP¥170 (up from JP¥77.40 loss in FY 2021). Revenue: JP¥1.39t (down 1.9% from FY 2021). Net income: JP¥30.8b (up JP¥42.9b from FY 2021). Profit margin: 2.2% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 March 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.7%). Anuncio • Dec 09
Showa Denko K.K. to Report Fiscal Year 2022 Results on Feb 14, 2023 Showa Denko K.K. announced that they will report fiscal year 2022 results on Feb 14, 2023 Anuncio • Dec 05
Showa Denko K.K. Announces Management Changes Showa Denko K.K. decided at its Board of Directors meeting held on December 5, 2022 on changes in corporate management (directors) as given below. Hisashi Maruyama (Director) and Hiroshi Sakai (Director, Managing Corporate Officer) will resign as directors of Resonac Holdings Corporation at the General Meeting of Shareholders in late March 2023. Masaharu Oshima (Outside Director) will resign as Outside Director of Resonac Holdings Corporation at the General Meeting of Shareholders in late March 2023. Meanwhile, Keiichi Kamiguchi (Managing Corporate Officer; Chief Risk Officer (CRO); and Chairman, Security Export Control Committee) will be elected as Director of Resonac Holdings Corporation at the General Meeting of Shareholders in late March 2023. Tetsuo Tsuneishi (Outside Director, Tokyo Electron Device Limited) will be elected as Outside Director of Resonac Holdings Corporation at the General Meeting of Shareholders in late March 2023. As of late March next year, the Board of Directors will consist of Kohei Morikawa (Representative Director; Chairman of the Board); Hidehito Takahashi (Representative Director; President and CEO); Keiichi Kamiguchi (Director; Managing Corporate Officer; CRO); Hideki Somemiya (Director; Managing Corporate Officer; CFO); Tomomitsu Maoka (Director; Managing Corporate Officer; CSO); Kiyoshi Nishioka, Kozo Isshiki, Noriko Morikawa, and Tetsuo Tsuneishi (Outside Directors). In addition, Toshiharu Kato and Jun Tanaka will continue serving as Audit & Supervisory Board Members, and Kiyomi Saito, Masako Yajima, and Yasuyuki Miyasaka will continue serving as Outside Members of the Audit & Supervisory Board. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: JP¥20.56 (vs JP¥20.23 in 3Q 2021) Third quarter 2022 results: EPS: JP¥20.56 (up from JP¥20.23 in 3Q 2021). Revenue: JP¥378.1b (up 5.5% from 3Q 2021). Net income: JP¥3.72b (up 21% from 3Q 2021). Profit margin: 1.0% (up from 0.9% in 3Q 2021). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Noriko Morikawa was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: JP¥43.91 (vs JP¥20.23 in 3Q 2021) Third quarter 2022 results: EPS: JP¥43.91 (up from JP¥20.23 in 3Q 2021). Revenue: JP¥378.1b (up 5.5% from 3Q 2021). Net income: JP¥7.95b (up 158% from 3Q 2021). Profit margin: 2.1% (up from 0.9% in 3Q 2021). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Anuncio • Sep 01
Showa Denko K.K. to Report Q3, 2022 Results on Nov 07, 2022 Showa Denko K.K. announced that they will report Q3, 2022 results on Nov 07, 2022 Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: JP¥129 (vs JP¥128 loss in 2Q 2021) Second quarter 2022 results: EPS: JP¥129 (up from JP¥128 loss in 2Q 2021). Revenue: JP¥348.0b (down 1.6% from 2Q 2021). Net income: JP¥23.3b (up JP¥41.9b from 2Q 2021). Profit margin: 6.7% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 3.9% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Anuncio • Aug 05
Showa Denko K.K. Provides Dividend Guidance for the Year-End 2022 Showa Denko K.K. provided dividend guidance for the year-end 2022. For the period, company expects dividend of JPY 65.00 per share. Anuncio • Aug 04
Showa Denko K.K. Revises Earnings Forecast for the January 1 to June 30, 2022 and for the January 1 to December 31, 2022 Showa Denko K.K. revises earnings forecast for the January 1 to June 30, 2022 and for the January 1 to December 31, 2022 . For the January 1 - June 30, 2022, the company Revised forecast of Net sales of JPY 655,000 Million against Previous forecast of JPY 640,000 Million. Operating income of JPY 36,700 Million against Previous forecast of JPY 29,000 Million. Net income attributable to owners of the parent of JPY 31,000 Million against Previous forecast of JPY 6,000 Million. Net income attributable to owners of the parent per share of JPY 171.18 against Previous forecast of JPY 33.14. For the January 1 - June 30, 2022, the company Revised forecast of Net sales of JPY 1,500,000 Million against Previous forecast of JPY 1,350,000 Million. Operating income of JPY 84,000 Million against Previous forecast of JPY 84,000 Million. Net income attributable to owners of the parent of JPY 32,000 Million against Previous forecast of JPY 27,000 Million. Net income attributable to owners of the parent per share of JPY 176.69 against Previous forecast of JPY 149.11. Anuncio • Jun 05
Showa Denko K.K. to Report Q2, 2022 Results on Aug 04, 2022 Showa Denko K.K. announced that they will report Q2, 2022 results on Aug 04, 2022 Reported Earnings • May 13
First quarter 2022 earnings released: EPS: JP¥46.58 (vs JP¥35.58 in 1Q 2021) First quarter 2022 results: EPS: JP¥46.58 (up from JP¥35.58 in 1Q 2021). Revenue: JP¥308.0b (down 9.3% from 1Q 2021). Net income: JP¥8.43b (up 63% from 1Q 2021). Profit margin: 2.7% (up from 1.5% in 1Q 2021). Over the next year, revenue is forecast to grow 3.6%, compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Noriko Morikawa was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Apr 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Noriko Morikawa was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Anuncio • Feb 27
Showa Denko K.K. to Report Q1, 2022 Results on May 11, 2022 Showa Denko K.K. announced that they will report Q1, 2022 results on May 11, 2022 Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: JP¥77.40 loss per share (up from JP¥523 loss in FY 2020). Revenue: JP¥1.42t (up 46% from FY 2020). Net loss: JP¥12.1b (loss narrowed 84% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 3.6% compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Anuncio • Feb 09
Showa Denko Revises Earnings Guidance for the Full Year Ending December 31, 2021 Showa Denko revised earnings guidance for the full year ending December 31, 2021. For the year, the company expects net sales of ¥1,420,000 million, operating income of ¥87,000 million, net loss attributable to owners of the parent of ¥12,000 million and net loss attributable to owners of the parent per share of ¥76.80 against previous guidance of net sales of ¥1,400,000 million, operating income of ¥85,000 million, net loss attributable to owners of the parent of ¥25,000 million and net loss attributable to owners of the parent per share of ¥171.37. Upcoming Dividend • Dec 23
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.8%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS JP¥20.23 (vs JP¥21.11 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥358.3b (up 16% from 3Q 2020). Net income: JP¥3.08b (up JP¥6.16b from 3Q 2020). Profit margin: 0.9% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 11
Second quarter 2021 earnings released: JP¥127 loss per share (vs JP¥393 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: JP¥353.7b (up 128% from 2Q 2020). Net loss: JP¥18.6b (loss narrowed 68% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2021 earnings released: EPS JP¥35.58 (vs JP¥18.50 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: JP¥339.7b (up 98% from 1Q 2020). Net income: JP¥5.19b (up 92% from 1Q 2020). Profit margin: 1.5% (down from 1.6% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Anuncio • Mar 06
SKT Holdings Ltd enter into basic agreement to acquire 28.9% stake in Shoko Co., Ltd. (TSE:8090) from Showa Denko K.K. (TSE:4004) for ¥ 2.5 billion. SKT Holdings Ltd enter into basic agreement to acquire 28.9% stake in Shoko Co., Ltd. (TSE:8090) from Showa Denko K.K. (TSE:4004) for ¥ 2.5 billion on March 4, 2021. Under the terms of agreement, Isigma will acquire 3.16 million shares of Shoko Co. at ¥ 796 per share. Tender offer will commence on March 5, 2021.when this tender offer is successful, SHOKO will no longer be a consolidated subsidiary of the Company. Reported Earnings • Feb 21
Full year 2020 earnings released: JP¥523 loss per share (vs JP¥501 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: JP¥973.7b (up 7.4% from FY 2019). Net loss: JP¥76.3b (down 204% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Anuncio • Feb 19
Showa Denko K.K., Annual General Meeting, Mar 30, 2021 Showa Denko K.K., Annual General Meeting, Mar 30, 2021. Is New 90 Day High Low • Feb 16
New 90-day high: €20.60 The company is up 32% from its price of €15.60 on 17 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.57 per share. Anuncio • Feb 13
Showa Denko K.K. Revises Consolidated Earnings Guidance for the Year Ending December 31, 2020 Showa Denko K.K. revised consolidated earnings guidance for the year ending December 31, 2020. For the year, the company revised net sales guidance of JPY 973,500 million compared to previous guidance of JPY 960,000 million. Revised operating loss guidance of JPY 20,000 million compared to previous guidance of JPY 30,000 million. Revised net loss attributable to owners of the parent guidance of JPY 77,000 million compared to previous guidance of JPY 90,000 million. Revised net loss attributable to owners of the parent per share guidance of JPY 527.83 compared to previous guidance of JPY 616.94 per share. Anuncio • Feb 08
Showa Denko K.K. (TSE:4004) acquired 50% stake in AMI Automation. Showa Denko K.K. (TSE:4004) acquired 50% stake in AMI Automation on February 8, 2021. Showa Denko has an option to acquire the remaining 50% of AMI within 5 years.
Showa Denko K.K. (TSE:4004) completed the acquisition of 50% stake in AMI Automation on February 8, 2021. Is New 90 Day High Low • Jan 29
New 90-day high: €19.30 The company is up 36% from its price of €14.20 on 30 October 2020. The German market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.11 per share. Is New 90 Day High Low • Jan 13
New 90-day high: €17.80 The company is up 18% from its price of €15.10 on 14 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.32 per share. Anuncio • Jan 12
Showa Denko K.K. to Report Fiscal Year 2020 Results on Feb 17, 2021 Showa Denko K.K. announced that they will report fiscal year 2020 results on Feb 17, 2021 Is New 90 Day High Low • Dec 10
New 90-day high: €17.00 The company is up 10.0% from its price of €15.50 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.80 per share. Anuncio • Nov 30
Showa Denko K.K. Announces Management Changes Showa Denko K.K. announced that Akihiro Jimbo (General Manager, Basic Chemicals Division) will also resign as Corporate Officer on January 3. He will become business adviser to Maruzen Showa Unyu Co. Ltd. effective January 4. Koichi Nishimura (Assistant to President for promotion of chemicals safety and environmental protection; officer in charge of Industrial Gases, Basic Chemicals, Electronic Chemicals, and Functional Chemicals divisions as well as Kawasaki, Higashinagahara, Isesaki and Tatsuno plants) will resign as Corporate Officer on January 3, 2021. He will assume the post of President, Union Showa K.K., on January 4. Analyst Estimate Surprise Post Earnings • Nov 17
Revenue misses expectations Revenue missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 48%, compared to a 3.6% growth forecast for the Chemicals industry in Germany. Reported Earnings • Nov 17
Third quarter 2020 earnings released: JP¥21.11 loss per share The company reported a mediocre third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: JP¥309.4b (up 41% from 3Q 2019). Net loss: JP¥3.08b (down 120% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 07
Third quarter 2020 earnings released: JP¥21.11 loss per share The company reported a mediocre third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: JP¥309.4b (up 41% from 3Q 2019). Net loss: JP¥3.08b (down 120% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue misses expectations Revenue missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 48%, compared to a 2.9% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Oct 21
New 90-day low: €14.60 The company is down 22% from its price of €18.80 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.50 per share. Is New 90 Day High Low • Oct 01
New 90-day low: €15.20 The company is down 20% from its price of €19.00 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.61 per share. Anuncio • Aug 29
Showa Denko K.K. to Report Q3, 2020 Results on Nov 05, 2020 Showa Denko K.K. announced that they will report Q3, 2020 results at 3:00 PM, Tokyo Standard Time on Nov 05, 2020