Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,580, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 15x in the Machinery industry in Japan. Total returns to shareholders of 198% over the past three years. Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥275 (vs JP¥181 in FY 2025) Full year 2026 results: EPS: JP¥275 (up from JP¥181 in FY 2025). Revenue: JP¥14.8b (up 6.1% from FY 2025). Net income: JP¥1.17b (up 50% from FY 2025). Profit margin: 7.9% (up from 5.6% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • May 15
Ichikawa Co., Ltd., Annual General Meeting, Jun 25, 2026 Ichikawa Co., Ltd., Annual General Meeting, Jun 25, 2026. Buy Or Sell Opportunity • May 14
Now 20% overvalued Over the last 90 days, the stock has fallen 6.8% to JP¥3,095. The fair value is estimated to be JP¥2,570, 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 8.4%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,035, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 15x in the Machinery industry in Japan. Total returns to shareholders of 235% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥82.80 (vs JP¥92.74 in 3Q 2025) Third quarter 2026 results: EPS: JP¥82.80 (down from JP¥92.74 in 3Q 2025). Revenue: JP¥3.63b (down 3.8% from 3Q 2025). Net income: JP¥354.0m (down 11% from 3Q 2025). Profit margin: 9.7% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 13
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 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (355% cash payout ratio). Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (JP¥14.1b market cap, or US$88.5m). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,310, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥2,825, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 148% over the past three years. Anuncio • Dec 04
Ichikawa Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Ichikawa Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Anuncio • Nov 28
Ichikawa Co., Ltd. (TSE:3513) announces an Equity Buyback for 150,000 shares, representing 3.41% for ¥333 million. Ichikawa Co., Ltd. (TSE:3513) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 3.41% of its issued share capital, for ¥333 million. The shares will be repurchased at a price of ¥2,220 per share. The purpose of the program is to improve capital efficiency and further return to shareholders, to implement a flexible capital policy in response to future changes in the business environment. As of September 30, 2025, there are 4,398,870 outstanding shares (excluding treasury stock) and 569,281 shares in treasury. Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥90.56 (vs JP¥41.39 in 2Q 2025) Second quarter 2026 results: EPS: JP¥90.56 (up from JP¥41.39 in 2Q 2025). Revenue: JP¥3.79b (up 5.5% from 2Q 2025). Net income: JP¥389.0m (up 119% from 2Q 2025). Profit margin: 10% (up from 5.0% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Oct 22
Ichikawa Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Ichikawa Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥72.30 (vs JP¥50.87 in 1Q 2025) First quarter 2026 results: EPS: JP¥72.30 (up from JP¥50.87 in 1Q 2025). Revenue: JP¥3.41b (up 4.1% from 1Q 2025). Net income: JP¥308.0m (up 38% from 1Q 2025). Profit margin: 9.0% (up from 6.8% in 1Q 2025). 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 and the company’s share price has also increased by 10% per year. Anuncio • Jun 27
Ichikawa Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Ichikawa Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥181 (vs JP¥228 in FY 2024) Full year 2025 results: EPS: JP¥181 (down from JP¥228 in FY 2024). Revenue: JP¥13.9b (up 2.5% from FY 2024). Net income: JP¥782.0m (down 23% from FY 2024). Profit margin: 5.6% (down from 7.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Anuncio • May 15
Ichikawa Co., Ltd., Annual General Meeting, Jun 26, 2025 Ichikawa Co., Ltd., Annual General Meeting, Jun 26, 2025. Anuncio • May 14
Ichikawa Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 Ichikawa Co., Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,587, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 34% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥75.96 (vs JP¥40.49 in 3Q 2024) Third quarter 2025 results: EPS: JP¥75.96 (up from JP¥40.49 in 3Q 2024). Revenue: JP¥3.78b (up 17% from 3Q 2024). Net income: JP¥326.0m (up 83% from 3Q 2024). Profit margin: 8.6% (up from 5.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Jan 31
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 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (JP¥7.43b market cap, or US$48.0m). Anuncio • Jan 17
Ichikawa Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Ichikawa Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥6.92b market cap, or US$43.9m). Anuncio • Nov 29
Ichikawa Co., Ltd. (TSE:3513) announces an Equity Buyback for 50,000 shares, representing 1.16% for ¥76.3 million. Ichikawa Co., Ltd. (TSE:3513) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, representing 1.16% of its issued share capital, for ¥76.3 million. The shares will be repurchased at a price of ¥1,526 per share. The purpose of the program is to improve capital efficiency and enhance shareholder returns. As of September 30, 2024, there are 4,305,865 outstanding shares (excluding treasury stock) and 661,286 shares in treasury. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥41.38 (vs JP¥85.82 in 2Q 2024) Second quarter 2025 results: EPS: JP¥41.38 (down from JP¥85.82 in 2Q 2024). Revenue: JP¥3.59b (flat on 2Q 2024). Net income: JP¥178.0m (down 54% from 2Q 2024). Profit margin: 5.0% (down from 11% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥7.01b market cap, or US$49.8m). Anuncio • Sep 07
Ichikawa Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Ichikawa Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥50.87 (vs JP¥43.48 in 1Q 2024) First quarter 2025 results: EPS: JP¥50.87 (up from JP¥43.48 in 1Q 2024). Revenue: JP¥3.28b (up 1.1% from 1Q 2024). Net income: JP¥223.0m (up 12% from 1Q 2024). Profit margin: 6.8% (up from 6.1% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Anuncio • Jun 17
Ichikawa Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Ichikawa Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Anuncio • Jun 15
Ichikawa Co., Ltd. (TSE:3513) announces an Equity Buyback for 150,000 shares, representing 3.41% for ¥272.25 million. Ichikawa Co., Ltd. (TSE:3513) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 3.41% of its issued share capital (excluding treasury stock), for a total purchase price of ¥272.25 million. The shares will be repurchased at a price of ¥1,815 per share. The purpose of the program is to improve capital efficiency and further return profits to shareholders, as well as to implement a flexible capital policy that can respond to future changes in the business environment. As of March 31, 2024, the company had 4,398,828 issued shares (excluding treasury stock) and 568,323 treasury shares. Reported Earnings • May 21
Full year 2024 earnings released: EPS: JP¥172 (vs JP¥182 in FY 2023) Full year 2024 results: EPS: JP¥172 (down from JP¥182 in FY 2023). Revenue: JP¥13.6b (up 1.9% from FY 2023). Net income: JP¥771.0m (down 7.4% from FY 2023). Profit margin: 5.7% (down from 6.2% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Anuncio • May 17
Ichikawa Co., Ltd., Annual General Meeting, Jun 26, 2024 Ichikawa Co., Ltd., Annual General Meeting, Jun 26, 2024. Anuncio • Mar 24
Ichikawa Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Ichikawa Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥40.47 (vs JP¥49.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥40.47 (down from JP¥49.15 in 3Q 2023). Revenue: JP¥3.23b (down 7.4% from 3Q 2023). Net income: JP¥178.0m (down 21% from 3Q 2023). Profit margin: 5.5% (down from 6.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Anuncio • Dec 27
Ichikawa Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Ichikawa Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥85.82 (vs JP¥54.17 in 2Q 2023) Second quarter 2024 results: EPS: JP¥85.82 (up from JP¥54.17 in 2Q 2023). Revenue: JP¥3.62b (up 5.1% from 2Q 2023). Net income: JP¥388.0m (up 56% from 2Q 2023). Profit margin: 11% (up from 7.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Anuncio • Sep 21
Ichikawa Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Ichikawa Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥30.00 per share at 5.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Anuncio • Sep 02
Ichikawa Co., Ltd. (TSE:3513) announces an Equity Buyback for 250,000 shares, representing 5.46% for ¥351.75 million. Ichikawa Co., Ltd. (TSE:3513) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 5.46% of its issued share capital (excluding treasury stock), for a total purchase price of ¥351.75 million. The shares will be repurchased at a price of ¥1,407 per share. The purpose of the program is to improve capital efficiency and further shareholders return to implement capital policy. The program is valid till September 1, 2023. As of June 30, 2023, the company has 4,577,960 issued shares (excluding treasury stock) and 389,191 treasury shares. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥43.47 (vs JP¥44.12 in 1Q 2023) First quarter 2024 results: EPS: JP¥43.47 (down from JP¥44.12 in 1Q 2023). Revenue: JP¥3.24b (up 5.5% from 1Q 2023). Net income: JP¥199.0m (down 1.5% from 1Q 2023). Profit margin: 6.1% (down from 6.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Anuncio • Jun 26
Ichikawa Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Ichikawa Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥182 (vs JP¥114 in FY 2022) Full year 2023 results: EPS: JP¥182 (up from JP¥114 in FY 2022). Revenue: JP¥13.3b (up 8.0% from FY 2022). Net income: JP¥833.0m (up 59% from FY 2022). Profit margin: 6.2% (up from 4.2% 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 35% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 4.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥49.14 (vs JP¥31.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥49.14 (up from JP¥31.23 in 3Q 2022). Revenue: JP¥3.48b (up 17% from 3Q 2022). Net income: JP¥225.0m (up 57% from 3Q 2022). Profit margin: 6.5% (up from 4.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Anuncio • Dec 22
Ichikawa Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Ichikawa Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: JP¥54.17 (vs JP¥44.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥54.17 (up from JP¥44.79 in 2Q 2022). Revenue: JP¥3.44b (up 12% from 2Q 2022). Net income: JP¥248.0m (up 21% from 2Q 2022). Profit margin: 7.2% (up from 6.6% 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 40% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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. Outside Independent Director Ryota Honjo was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥54.17 (vs JP¥44.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥54.17 (up from JP¥44.79 in 2Q 2022). Revenue: JP¥3.44b (up 12% from 2Q 2022). Net income: JP¥248.0m (up 21% from 2Q 2022). Profit margin: 7.2% (up from 6.6% 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 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.4%). Buying Opportunity • Sep 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be JP¥1,693, however this is not to be taken as a buy 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 36%. Anuncio • Sep 01
Ichikawa Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Ichikawa Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥44.12 (vs JP¥14.21 in 1Q 2022) First quarter 2023 results: EPS: JP¥44.12 (up from JP¥14.21 in 1Q 2022). Revenue: JP¥3.07b (up 11% from 1Q 2022). Net income: JP¥202.0m (up 211% from 1Q 2022). Profit margin: 6.6% (up from 2.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Anuncio • Jun 24
Ichikawa Co., Ltd. to Report Q1, 2023 Results on Jul 29, 2022 Ichikawa Co., Ltd. announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 19
Full year 2022 earnings released: EPS: JP¥114 (vs JP¥80.67 in FY 2021) Full year 2022 results: EPS: JP¥114 (up from JP¥80.67 in FY 2021). Revenue: JP¥12.4b (up 6.5% from FY 2021). Net income: JP¥523.0m (up 42% from FY 2021). Profit margin: 4.2% (up from 3.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Anuncio • May 18
Ichikawa Co., Ltd., Annual General Meeting, Jun 29, 2022 Ichikawa Co., Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Outside Director Akira Nozaki was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Anuncio • Apr 07
Ichikawa Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Ichikawa Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 09 June 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥31.23 (up from JP¥3.50 loss in 3Q 2021). Revenue: JP¥2.97b (up 16% from 3Q 2021). Net income: JP¥143.0m (up JP¥159.0m from 3Q 2021). Profit margin: 4.8% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 01
Second quarter 2022 earnings released: EPS JP¥44.78 (vs JP¥19.90 in 2Q 2021) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥3.08b (flat on 2Q 2021). Net income: JP¥205.0m (up 125% from 2Q 2021). Profit margin: 6.6% (up from 3.0% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥14.21 (vs JP¥10.94 in 1Q 2021) The company reported a solid first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2022 results: Revenue: JP¥2.78b (flat on 1Q 2021). Net income: JP¥65.0m (up 30% from 1Q 2021). Profit margin: 2.3% (up from 1.8% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 10 June 2021. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Feb 26
New 90-day high: JP¥1,350 The company is up 3.0% from its price of JP¥1,315 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: JP¥3.50 loss per share (vs JP¥33.47 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: JP¥2.56b (down 12% from 3Q 2020). Net loss: JP¥16.0m (down 111% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 12% per year. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥1,280 The company is down 8.0% from its price of JP¥1,388 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 14% over the same period. 
