Declared Dividend • May 20
Dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th June 2026 Payment date: 1st September 2026 Dividend yield will be 297%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (177% earnings payout ratio). However, it is well covered by cash flows (33% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 97% to bring the payout ratio under control. EPS is expected to grow by 107% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Outside Director Yukiko Hashitera was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Mar 16
Nissha Co., Ltd. to Report Q1, 2026 Results on May 12, 2026 Nissha Co., Ltd. announced that they will report Q1, 2026 results on May 12, 2026 Annonce • Feb 12
Nissha Co., Ltd., Annual General Meeting, Mar 24, 2026 Nissha Co., Ltd., Annual General Meeting, Mar 24, 2026. Annonce • Dec 16
Nissha Co., Ltd. to Report Fiscal Year 2025 Results on Feb 12, 2026 Nissha Co., Ltd. announced that they will report fiscal year 2025 results on Feb 12, 2026 Annonce • Sep 14
Nissha Co., Ltd. to Report Q3, 2025 Results on Nov 11, 2025 Nissha Co., Ltd. announced that they will report Q3, 2025 results on Nov 11, 2025 Annonce • Jun 10
Nissha Co., Ltd. to Report Q2, 2025 Results on Aug 06, 2025 Nissha Co., Ltd. announced that they will report Q2, 2025 results on Aug 06, 2025 Annonce • Mar 14
Nissha Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Nissha Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Annonce • Feb 13
Nissha Co., Ltd., Annual General Meeting, Mar 21, 2025 Nissha Co., Ltd., Annual General Meeting, Mar 21, 2025. Annonce • Dec 18
Nissha Co., Ltd. to Report Q4, 2024 Results on Feb 13, 2025 Nissha Co., Ltd. announced that they will report Q4, 2024 results on Feb 13, 2025 Buy Or Sell Opportunity • Nov 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to €10.10. The fair value is estimated to be €12.67, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: JP¥1.25 (vs JP¥4.61 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥1.25 (up from JP¥4.61 loss in 3Q 2023). Revenue: JP¥48.7b (up 19% from 3Q 2023). Net income: JP¥60.0m (up JP¥285.0m from 3Q 2023). Profit margin: 0.1% (up from net loss in 3Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Annonce • Nov 08
Nissha Co., Ltd. (TSE:7915) announces an Equity Buyback for 600,000 shares, representing 1.25% for ¥1,000 million. Nissha Co., Ltd. (TSE:7915) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 1.25% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,000 million. The purpose of the program is to improve shareholder returns and capital efficiency. The program will be valid till March 31, 2025. As of September 30, 2024, the company had 47,896,359 issued shares (excluding treasury stock) and 2,959,279 treasury shares. Annonce • Sep 13
Nissha Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 Nissha Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: JP¥64.56 (vs JP¥32.47 in 2Q 2023) Second quarter 2024 results: EPS: JP¥64.56 (up from JP¥32.47 in 2Q 2023). Revenue: JP¥52.9b (up 31% from 2Q 2023). Net income: JP¥3.12b (up 97% from 2Q 2023). Profit margin: 5.9% (up from 3.9% in 2Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. New Risk • Aug 07
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 7.3% 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 Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.3% average weekly change). Annonce • Aug 06
Nissha Co., Ltd. (TSE:7915) announces an Equity Buyback for 600,000 shares, representing 1.24% for ¥1,000 million. Nissha Co., Ltd. (TSE:7915) announces a share repurchase program. Under the program, the company will repurchase up to 600,000 shares, representing 1.24% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,000 million. The purpose of the program is to improve shareholder returns and capital efficiency. The program will be valid till November 30, 2024. As of June 30, 2024, the company had 48,385,013 issued shares (excluding treasury stock) and 2,470,625 treasury shares. Buy Or Sell Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock has risen 29% to €11.10. The fair value is estimated to be €14.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 02 September 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.8%). Annonce • Jun 10
Nissha Co., Ltd. to Report Q2, 2024 Results on Aug 06, 2024 Nissha Co., Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 11
First quarter 2024 earnings released: EPS: JP¥25.64 (vs JP¥15.97 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥25.64 (up from JP¥15.97 loss in 1Q 2023). Revenue: JP¥46.7b (up 10% from 1Q 2023). Net income: JP¥1.24b (up JP¥2.02b from 1Q 2023). Profit margin: 2.7% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 28
Full year 2023 earnings released: JP¥61.12 loss per share (vs JP¥204 profit in FY 2022) Full year 2023 results: JP¥61.12 loss per share (down from JP¥204 profit in FY 2022). Revenue: JP¥167.7b (down 14% from FY 2022). Net loss: JP¥2.99b (down 130% from profit in FY 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Annonce • Mar 13
Nissha Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Nissha Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Annonce • Feb 16
Nissha Co., Ltd., Annual General Meeting, Mar 22, 2024 Nissha Co., Ltd., Annual General Meeting, Mar 22, 2024. Reported Earnings • Feb 16
Full year 2023 earnings released: JP¥61.11 loss per share (vs JP¥204 profit in FY 2022) Full year 2023 results: JP¥61.11 loss per share (down from JP¥204 profit in FY 2022). Revenue: JP¥167.7b (down 14% from FY 2022). Net loss: JP¥2.99b (down 130% from profit in FY 2022). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥25.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 04 March 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.5%). Annonce • Dec 17
Nissha Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024 Nissha Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024 Annonce • Nov 10
Nissha Co., Ltd. (TSE:7915) announces an Equity Buyback for 700,000 shares, representing 1.43% for ¥1,000 million. Nissha Co., Ltd. (TSE:7915) announces a share repurchase program. Under the program, the company will repurchase up to 700,000 shares, representing 1.43% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,000 million. The purpose of the program is to improve shareholders return and capital efficiency. A portion of the acquired treasury stock is scheduled to be allocated for stock benefits to directors, officers, etc. and employees. The program will be valid till March 31, 2024. As of September 30, 2023, the company had 48,840,897 issued shares (excluding treasury stock) and 2,014,741 treasury shares. Reported Earnings • Nov 10
Third quarter 2023 earnings released: JP¥4.63 loss per share (vs JP¥78.51 profit in 3Q 2022) Third quarter 2023 results: JP¥4.63 loss per share (down from JP¥78.51 profit in 3Q 2022). Revenue: JP¥40.9b (down 23% from 3Q 2022). Net loss: JP¥226.0m (down 106% from profit in 3Q 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Buying Opportunity • Oct 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.3%. The fair value is estimated to be €12.94, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 34% per annum over the same time period. Annonce • Sep 10
Nissha Co., Ltd. to Report Q3, 2023 Results on Nov 09, 2023 Nissha Co., Ltd. announced that they will report Q3, 2023 results on Nov 09, 2023 New Risk • Aug 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (105% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: JP¥32.44 (vs JP¥92.74 in 2Q 2022) Second quarter 2023 results: EPS: JP¥32.44 (down from JP¥92.74 in 2Q 2022). Revenue: JP¥40.6b (down 13% from 2Q 2022). Net income: JP¥1.59b (down 66% from 2Q 2022). Profit margin: 3.9% (down from 9.9% in 2Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥25.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 01 September 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.2%). Annonce • Jun 11
Nissha Co., Ltd. to Report Q2, 2023 Results on Aug 08, 2023 Nissha Co., Ltd. announced that they will report Q2, 2023 results on Aug 08, 2023 Reported Earnings • May 14
First quarter 2023 earnings released: JP¥15.97 loss per share (vs JP¥65.84 profit in 1Q 2022) First quarter 2023 results: JP¥15.97 loss per share (down from JP¥65.84 profit in 1Q 2022). Revenue: JP¥42.4b (up 2.5% from 1Q 2022). Net loss: JP¥784.0m (down 124% from profit in 1Q 2022). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. Reported Earnings • Mar 28
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥194.0b (up 2.5% from FY 2021). Net income: JP¥10.1b (down 36% from FY 2021). Profit margin: 5.2% (down from 8.4% in FY 2021). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Germany. Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: JP¥204 (vs JP¥318 in FY 2021) Full year 2022 results: EPS: JP¥204 (down from JP¥318 in FY 2021). Revenue: JP¥194.0b (up 2.5% from FY 2021). Net income: JP¥10.1b (down 36% from FY 2021). Profit margin: 5.2% (down from 8.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Annonce • Feb 16
Nissha Co., Ltd., Annual General Meeting, Mar 23, 2023 Nissha Co., Ltd., Annual General Meeting, Mar 23, 2023. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 03 March 2023. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.1%). Annonce • Dec 15
Nissha Co., Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023 Nissha Co., Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Juichi Takeuchi 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 12
Third quarter 2022 earnings released: EPS: JP¥78.53 (vs JP¥78.93 in 3Q 2021) Third quarter 2022 results: EPS: JP¥78.53 (down from JP¥78.93 in 3Q 2021). Revenue: JP¥53.2b (up 11% from 3Q 2021). Net income: JP¥3.92b (flat on 3Q 2021). Profit margin: 7.4% (down from 8.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Buying Opportunity • Nov 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be €14.76, 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 93%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings is forecast to decline by 6.4% per annum over the same time period. Annonce • Nov 11
Nissha Co., Ltd. (TSE:7915) announces an Equity Buyback for 1,100,000 shares, representing 2.21% for ¥2,500 million. Nissha Co., Ltd. (TSE:7915) announces a share repurchase program. Under the program, the company will repurchase up to 1,100,000 shares, representing 2.21% of its issued share capital (excluding treasury stock), for a total purchase price of ¥2,500 million. The purpose of the program is to return profits to shareholders and improve capital efficiency. A portion of the acquired treasury stock is scheduled to be appropriated for stock benefits to directors, officers, etc. and employees. The program will be valid till March 31, 2023. As of September 30, 2022, the company had 49,858,989 issued shares (excluding treasury stock) and 996,649 treasury shares. Annonce • Sep 09
Nissha Co., Ltd. to Report Q3, 2022 Results on Nov 10, 2022 Nissha Co., Ltd. announced that they will report Q3, 2022 results on Nov 10, 2022 Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: JP¥92.76 (vs JP¥104 in 2Q 2021) Second quarter 2022 results: EPS: JP¥92.76 (down from JP¥104 in 2Q 2021). Revenue: JP¥46.8b (down 7.2% from 2Q 2021). Net income: JP¥4.62b (down 11% from 2Q 2021). Profit margin: 9.9% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 1.2%, compared to a 21% growth forecast for the industry in Germany. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (1.2%). Annonce • Jun 11
Nissha Co., Ltd. to Report Q2, 2022 Results on Aug 08, 2022 Nissha Co., Ltd. announced that they will report Q2, 2022 results on Aug 08, 2022 Reported Earnings • May 15
First quarter 2022 earnings released: EPS: JP¥65.84 (vs JP¥109 in 1Q 2021) First quarter 2022 results: EPS: JP¥65.84 (down from JP¥109 in 1Q 2021). Revenue: JP¥41.4b (down 12% from 1Q 2021). Net income: JP¥3.28b (down 40% from 1Q 2021). Profit margin: 7.9% (down from 12% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 1.7% compared to a 21% growth forecast for the industry in Germany. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Juichi Takeuchi 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. Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Juichi Takeuchi 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. Annonce • Feb 16
Nissha Co., Ltd., Annual General Meeting, Mar 23, 2022 Nissha Co., Ltd., Annual General Meeting, Mar 23, 2022. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 01 March 2022. Payout ratio is a comfortable 8.2% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.6%). Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS JP¥78.92 (vs JP¥72.19 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥47.9b (down 7.1% from 3Q 2020). Net income: JP¥3.93b (up 9.0% from 3Q 2020). Profit margin: 8.2% (up from 7.0% in 3Q 2020). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥13.78, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 24x in the Electronic industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €19.84 per share. Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Kazumichi Matsuki was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥11.07, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 25x in the Electronic industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €13.23 per share. Reported Earnings • May 14
First quarter 2021 earnings released: EPS JP¥109 (vs JP¥17.25 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥47.1b (up 19% from 1Q 2020). Net income: JP¥5.42b (up JP¥4.56b from 1Q 2020). Profit margin: 12% (up from 2.2% in 1Q 2020). The increase in margin was driven by higher revenue. Annonce • Mar 13
Nissha Co., Ltd. to Report Q1, 2021 Results on May 12, 2021 Nissha Co., Ltd. announced that they will report Q1, 2021 results on May 12, 2021 Annonce • Feb 16
Nissha Co., Ltd., Annual General Meeting, Mar 19, 2021 Nissha Co., Ltd., Annual General Meeting, Mar 19, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥141 (vs JP¥344 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥180.0b (up 3.4% from FY 2019). Net income: JP¥7.07b (up JP¥24.2b from FY 2019). Profit margin: 3.9% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is expected to shrink by 7.8% compared to a 17% growth forecast for the Electronic industry in Germany.