New Risk • Jul 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 43% 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. Annonce • Jun 04
Osaka Gas Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Osaka Gas Co., Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Annonce • May 09
Osaka Gas Co., Ltd. to Report Fiscal Year 2026 Results on May 08, 2026 Osaka Gas Co., Ltd. announced that they will report fiscal year 2026 results on May 08, 2026 Annonce • Feb 03
Osaka Gas Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Osaka Gas Co., Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company expects net sales of JPY 2,050,000 million; operating profit of JPY 160,000 million; profit attributable to owners of parent of JPY 142,000 million; earnings per share of JPY 363.17. Annonce • Dec 06
Osaka Gas Co., Ltd. to Report Q3, 2026 Results on Feb 02, 2026 Osaka Gas Co., Ltd. announced that they will report Q3, 2026 results on Feb 02, 2026 Annonce • Oct 31
Osaka Gas Co., Ltd. Announces Interim Dividend for the Fiscal Year Ending March 31, 2026, Payable on November 28, 2025 and Revises Dividend Guidance for the Fiscal Year Ending March 31, 2026 Osaka Gas Co., Ltd. announced interim dividend for the fiscal year ending March 31, 2026, payable on November 28, 2025 and revised dividend guidance for the fiscal year ending March 31, 2026. The company announced interim dividend of JPY 60.0 per share compared to JPY 47.5 per share paid a year ago period. Dividend source: Retained earnings. Total dividend payment: JPY 23,421 million. Record Date: September 30, 2025.
For the year, the company now expects dividend of JPY 60.0 per share compared to JPY 52.5 per share a year ago. Annonce • Sep 02
Osaka Gas Co., Ltd. to Report Q2, 2026 Results on Oct 30, 2025 Osaka Gas Co., Ltd. announced that they will report Q2, 2026 results on Oct 30, 2025 Annonce • Jun 04
Osaka Gas Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Osaka Gas Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Annonce • Apr 21
Osaka Gas Co., Ltd. Revises Consolidated Financial Results Forecasts for the Fiscal Year Ended March 31, 2025 Osaka Gas Co., Ltd. revised consolidated financial results forecasts for the fiscal year ended March 31, 2025. For the year, the company expects net sales of ¥2,069,000 million compared to previous guidance of ¥1,986,000 million, operating profit of ¥160,500 million compared to previous guidance of ¥123,500 million, profit attributable to owners of the parent of ¥134,000 million compared to previous guidance of ¥112,000 million, Earnings per share of ¥332.28 compared to previous guidance of ¥276.64. Annonce • Mar 28
Osaka Gas Co., Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 Osaka Gas Co., Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Annonce • Feb 11
Japanese Investors May Acquire Majority Stake in Pratham The Japanese consortium of Osaka Gas Co., Ltd. (TSE:9532), Sumitomo Corporation (TSE:8053), Japan Bank for International Cooperation (JBIC) and Konoike Transport Co.,Ltd. (TSE:9025) is planning to double its stake in city gas distribution company AG&P Pratham ahead of its IPO planned next year, according to sources aware of the development. This will make the consortium a majority stakeholder in the I-Squared Capital-backed company, which was last year valued at $1.5 billion. Currently, infrastructure investor I-Squared Capital is the majority stakeholder with a 56% stake in AG&P Pratham. Osaka, Sumitomo, JBIC and Konoike Transport together hold 26%. The balance of 18% is with Singapore-based Atlantic Gulf & Pacific (AG&P) LNG, the sources added. “The Japanese consortium including Osaka Gas is very interested and willing to increase their stake in AG&P Pratham. I-Squared Capital will dilute their stake for the Japanese consortium to increase the stake,” said an official aware of the development, adding that AG&P is planning an IPO in the second half of 2026 and the stake dilution will take place before that. Last March, I-Squared Capital decided to merge the operations of its city gas distribution companies in India — AG&P Pratham and Think Gas Distribution. The combined entity is valued at around $1.5 billion. The merger is awaiting regulatory approvals. “The merged entity will operate for a year before filing for an IPO. The management is also planning to rename the company shortly,” said another source, adding that the company's new identity could be unveiled at the India Energy Week to be held in New Delhi next week. “After the regulatory approvals, AG&P Pratham will go for an IPO. I-Squared wants to dilute stake and the Japanese consortium plans to become a majority stake holder. If I-Squared Capital dilutes up to 20% stake and the Japanese consortium decides to pick it up, its shareholding could go up to 46%,” said the official aware of the development. In an emailed response, an Osaka Gas spokesperson said: “Neither our company nor the J-Consortium has made any decisions regarding additional investments or becoming a majority shareholder.” An AG&P Pratham spokesperson said: “At this time, we are unable to provide any comment regarding our future plans.” I-Squared Capital did not respond to an email seeking comment. Annonce • Dec 21
Osaka Gas Co., Ltd. to Report Q3, 2025 Results on Feb 03, 2025 Osaka Gas Co., Ltd. announced that they will report Q3, 2025 results on Feb 03, 2025 New Risk • Nov 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.6% Last year net profit margin: 7.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). Profit margins are more than 30% lower than last year (4.6% net profit margin). Annonce • Nov 01
Osaka Gas Co., Ltd. (TSE:9532) announces an Equity Buyback for 15,000,000 shares, representing 3.71% for ¥20,000 million. Osaka Gas Co., Ltd. (TSE:9532) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 3.71% of its share capital for ¥20,000 million. The purpose of the program is to return profits to shareholders and to improve capital efficiency. The repurchased shares will be cancelled. The program will be valid till March 31, 2025. As of October 11, 2024, the company had 404,105,300 issued shares and 896,613 treasury shares. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥47.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.8%). Annonce • Sep 19
Osaka Gas Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Osaka Gas Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Outside Audit & Supervisory Board Member Eimei Kozai was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: JP¥75.50 (vs JP¥146 in 1Q 2024) First quarter 2025 results: EPS: JP¥75.50 (down from JP¥146 in 1Q 2024). Revenue: JP¥470.9b (down 8.1% from 1Q 2024). Net income: JP¥30.8b (down 49% from 1Q 2024). Profit margin: 6.5% (down from 12% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥47.50 announced Shareholders will receive a dividend of JP¥47.50. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 246%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 7.8% 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 grow by 5.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 28
Osaka Gas Co., Ltd. to Report Q1, 2025 Results on Jul 29, 2024 Osaka Gas Co., Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Annonce • Mar 30
Osaka Gas Co., Ltd. to Report Fiscal Year 2024 Results on May 08, 2024 Osaka Gas Co., Ltd. announced that they will report fiscal year 2024 results on May 08, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (7.2%). Annonce • Mar 07
Osaka Gas Co., Ltd., Annual General Meeting, Jun 27, 2024 Osaka Gas Co., Ltd., Annual General Meeting, Jun 27, 2024. Agenda: To consider amendments to the Articles of Incorporation. Reported Earnings • Jan 31
Third quarter 2024 earnings released: EPS: JP¥89.51 (vs JP¥68.20 in 3Q 2023) Third quarter 2024 results: EPS: JP¥89.51 (up from JP¥68.20 in 3Q 2023). Revenue: JP¥514.5b (down 16% from 3Q 2023). Net income: JP¥37.1b (up 31% from 3Q 2023). Profit margin: 7.2% (up from 4.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annonce • Dec 14
ITOCHU Corporation (TSE:8001) and Osaka Gas Co., Ltd. (TSE:9532) agreed to acquire 13.56% stake in Everfuel A/S (OB:EFUEL) from Nel ASA (OB:NEL) for NOK 120 million. ITOCHU Corporation (TSE:8001) and Osaka Gas Co., Ltd. (TSE:9532) agreed to acquire 13.56% stake in Everfuel A/S (OB:EFUEL) from Nel ASA (OB:NEL) for NOK 120 million on December 12, 2023. As part of acquisition, Osaka and ITOHCU will acquire 11,698,918 shares for NOK 9.97 per share. The transaction is subject to regulatory approvals. Carnegie AS acted as financial advisor to Nel ASA. Annonce • Dec 13
Osaka Gas Co., Ltd. to Report Q3, 2024 Results on Jan 30, 2024 Osaka Gas Co., Ltd. announced that they will report Q3, 2024 results on Jan 30, 2024 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €18.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Gas Utilities industry in Europe. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.89 per share. Reported Earnings • Oct 30
Second quarter 2024 earnings released: EPS: JP¥69.26 (vs JP¥98.50 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥69.26 (up from JP¥98.50 loss in 2Q 2023). Revenue: JP¥483.1b (down 6.1% from 2Q 2023). Net income: JP¥28.8b (up JP¥69.7b from 2Q 2023). Profit margin: 6.0% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Revenue is expected to fall by 2.9% p.a. on average during the next 3 years compared to a 2.0% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annonce • Sep 21
Osaka Gas Co., Ltd. to Report Q2, 2024 Results on Oct 27, 2023 Osaka Gas Co., Ltd. announced that they will report Q2, 2024 results on Oct 27, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥32.50 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.0%). Annonce • Aug 25
CPC Reportedly Set for Dorado Stake CPC Corporation, Taiwan is being tipped as the most likely buyer of an additional stake in the Dorado oil and gas project off the coast of Western Australia. Owner Santos Limited (ASX:STO) is understood to have had four or five parties in a data room, in a process run by investment bank Goldman Sachs. Among them are believed to be Kufpec (Kuwait Foreign Petroleum Exploration Company K.S.C.) and at least one Japanese suitor, with Mitsui & Co., Ltd. (TSE:8031) and Mitsubishi Corporation (TSE:8058) likely candidates. Other likely parties are Tokyo Gas Co.,Ltd. (TSE:9531), Osaka Gas Co., Ltd. (TSE:9532) and Jadestone Energy plc (AIM:JSE). But the latest chatter in the market is that Santos is pinning its hopes on CPC investing further. CPC recently finalised a deal with Carnarvon, the other owner of the project, to buy a 10% interest in Dorado and its Pavo project for an all-up payment of $146 million. Santos has an 80% interest in Dorado and the thinking in the market is that it remains keen to reduce that exposure to about 60%. Azure Capital-advised Carnarvon Energy was the only other holder before CPC bought in. Dorado, once owned by Woodside Petroleum and later Quadrant Energy before it was purchased by Santos, is an integrated oil and gas project that will be developed in two phases. It is located in the Bedout sub-basin, about 140km off the coast of WA's Port Hedland. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.3% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.9% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥146 (vs JP¥26.95 in 1Q 2023) First quarter 2024 results: EPS: JP¥146 (up from JP¥26.95 in 1Q 2023). Revenue: JP¥512.6b (up 9.7% from 1Q 2023). Net income: JP¥60.6b (up 441% from 1Q 2023). Profit margin: 12% (up from 2.4% in 1Q 2023). Revenue is expected to fall by 3.9% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Jun 14
Osaka Gas Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Osaka Gas Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 09
Full year 2023 earnings released: EPS: JP¥137 (vs JP¥308 in FY 2022) Full year 2023 results: EPS: JP¥137 (down from JP¥308 in FY 2022). Revenue: JP¥2.28t (up 43% from FY 2022). Net income: JP¥57.1b (down 56% from FY 2022). Profit margin: 2.5% (down from 8.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Annonce • May 08
Osaka Gas Co., Ltd., Annual General Meeting, Jun 23, 2023 Osaka Gas Co., Ltd., Annual General Meeting, Jun 23, 2023. Annonce • May 06
Mitsui, Osaka Gas Reportedly Bid for ReNew Energy's Commercial and Industrial Project Portfolio Japan's Mitsui & Co., Ltd. (TSE:8031) and Osaka Gas Co., Ltd. (TSE:9532) have placed non-binding bids to buy a 30% stake in ReNew Energy Global Plc's (TSE:9532) 2.3 gigawatts (GW) commercial and industrial project portfolio, two people aware of the development said. The equity value of the transaction is pegged at about $300 million, and is part of ReNew Energy Global's capital recycling strategy. The sale process is being managed by Moelis & Co. The company, one of India's largest clean energy firms, plans a capital expenditure of INR 35,0000 million and recently raised $400 million by selling senior-secured green bonds. Spokespeople for ReNew Energy Global and Moelis & Co. declined to comment. Queries emailed to spokespeople for Mitsui and Osaka Gas on May 4, 2023 remained unanswered. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 07
Third quarter 2023 earnings released: EPS: JP¥68.20 (vs JP¥19.29 in 3Q 2022) Third quarter 2023 results: EPS: JP¥68.20 (up from JP¥19.29 in 3Q 2022). Revenue: JP¥615.0b (up 56% from 3Q 2022). Net income: JP¥28.3b (up 253% from 3Q 2022). Profit margin: 4.6% (up from 2.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Jan 15
Osaka Gas Co., Ltd. to Report Q3, 2023 Results on Feb 06, 2023 Osaka Gas Co., Ltd. announced that they will report Q3, 2023 results on Feb 06, 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. 6 non-independent directors. Independent Outside Director Yumiko Sato was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 01
Second quarter 2023 earnings released: JP¥98.50 loss per share (vs JP¥12.68 profit in 2Q 2022) Second quarter 2023 results: JP¥98.50 loss per share (down from JP¥12.68 profit in 2Q 2022). Revenue: JP¥514.4b (up 53% from 2Q 2022). Net loss: JP¥40.9b (down JP¥46.2b from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Oct 28
Osaka Gas Co., Ltd. (TSE:9532) acquired 131 MW of solar parks in Japan from Sonnedix Power Holdings Limited. Osaka Gas Co., Ltd. (TSE:9532) acquired 131 MW of solar parks in Japan from Sonnedix Power Holdings Limited on October 27, 2022. 131 MW of solar parks in Japan includes 39 MW Oita Solar Power Plant, 36 MW Kurayoshi Solar Power Plant and 56 MW Hitachi Juoh Solar Power Plant.
Osaka Gas Co., Ltd. (TSE:9532) completed the acquisition of 131 MW of solar parks in Japan from Sonnedix Power Holdings Limited on October 27, 2022. 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: 30 November 2022. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.9%). Annonce • Sep 17
Osaka Gas Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Osaka Gas Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: JP¥26.95 (vs JP¥75.82 in 1Q 2022) First quarter 2023 results: EPS: JP¥26.95 (down from JP¥75.82 in 1Q 2022). Revenue: JP¥467.1b (up 49% from 1Q 2022). Net income: JP¥11.2b (down 65% from 1Q 2022). Profit margin: 2.4% (down from 10.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.3% compared to a 12% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annonce • Jun 19
Osaka Gas Co., Ltd. to Report Q1, 2023 Results on Aug 01, 2022 Osaka Gas Co., Ltd. announced that they will report Q1, 2023 results on Aug 01, 2022 Board Change • Apr 28
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Outside Director Yumiko Sato was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Annonce • Apr 08
Osaka Gas Co., Ltd. to Report Fiscal Year 2022 Results on Apr 26, 2022 Osaka Gas Co., Ltd. announced that they will report fiscal year 2022 results on Apr 26, 2022 Annonce • Apr 03
Osaka Gas Co., Ltd. (TSE:9532) acquired a 49% stake in 23-MW Solar Power Plant Portfolio in Japan from Sky Solar Japan Co.,Ltd. Osaka Gas Co., Ltd. (TSE:9532) acquired a 49% stake in 23-MW Solar Power Plant Portfolio in Japan from Sky Solar Japan Co.,Ltd. on April 1, 2022. 23-MW Solar Power Plant Portfolio in Japan is developed by Sky Solar Japan. Osaka Gas will also purchase all the electricity generated, aiming to expand the supply of renewable energy to its customers.
Osaka Gas Co., Ltd. (TSE:9532) completed the acquisition of a 49% stake in 23-MW Solar Power Plant Portfolio in Japan from Sky Solar Japan Co.,Ltd. on April 1, 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: 28 June 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (5.4%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥19.29 (down from JP¥50.06 in 3Q 2021). Revenue: JP¥393.3b (up 21% from 3Q 2021). Net income: JP¥8.02b (down 62% from 3Q 2021). Profit margin: 2.0% (down from 6.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 3.6% compared to a 4.9% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 28
Second quarter 2022 earnings released: EPS JP¥12.68 (vs JP¥36.49 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥336.1b (up 4.5% from 2Q 2021). Net income: JP¥5.27b (down 65% from 2Q 2021). Profit margin: 1.6% (down from 4.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% 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¥27.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.1%). Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS JP¥75.82 (vs JP¥52.02 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2022 results: Revenue: JP¥314.4b (flat on 1Q 2021). Net income: JP¥31.5b (up 46% from 1Q 2021). Profit margin: 10.0% (up from 6.8% in 1Q 2021). 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 2% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS JP¥194 (vs JP¥101 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥1.36t (flat on FY 2020). Net income: JP¥80.9b (up 94% from FY 2020). Profit margin: 5.9% (up from 3.1% in FY 2020). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Apr 28
Osaka Gas Co., Ltd. Provides Earnings Guidance for the Year 2022 Osaka Gas Co., Ltd. provided earnings guidance for the year 2022. For the year, the company's profit attributable to owners of parent will be decrease by 12.8% to JPY 70.5 billion despite the rebound from imprint loss in the International Energy business. Upcoming Dividend • Mar 23
Upcoming Dividend of JP¥27.50 Per Share Will be paid on the 29th of June to those who are registered shareholders by the 30th of March. The trailing yield of 2.3% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (6.2%). Annonce • Mar 12
Osaka Gas Co., Ltd. and Sojitz Osaka Gas Energy Company Ltd. Concludes A Supply Agreement Sojitz Corporation and Osaka Gas Co., Ltd.’s joint venture company Sojitz Osaka Gas Energy Company Ltd. has concluded a supply agreement on March 4th, 2021 with Acecook Co., Ltd.’s (“ACJ”) subsidiary, Acecook Vietnam Joint Stock Company (“ACV”), to provide natural gas to ACV’s food plants. SOGEC is concentrating its efforts on fuel switching from coal to natural gas, and this project marks the company’s first time supplying natural gas to an individual business. This natural gas supply business will be a subsidized project under Japan’s Joint Crediting Mechanism (JCM) scheme. Additionally, this project will be undertaken in cooperation with the governments of Vietnam and Japan. In partnership with Osaka and Ho Chi Minh City, ACV and SOGEC participated in a feasibility study for reducing CO2 in food plants prior to replacing the coal-fired steam boilers at two of ACV’s plants with highly-efficient gas-fired steam boilers that use natural gas with the objective of improving the plants’ work environment and reducing CO2emissions. Is New 90 Day High Low • Feb 26
New 90-day low: €14.80 The company is down 10.0% from its price of €16.50 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.41 per share. Annonce • Feb 02
Osaka Gas Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Year Ending March 31, 2021 Osaka Gas Co., Ltd. provided consolidated and non-consolidated earnings guidance for the year ending March 31, 2021. For the full year, the company expects consolidated net sales to be ¥1,330,000, operating profit to be ¥88,500 million, profit to be ¥71,500 million, basic earnings per share to be ¥171.96 against previously guidance of net sales to be ¥1,336,000, operating profit to be ¥93,500 million, profit to be ¥71,500 million, basic earnings per share to be ¥171.96.
For the full year, the company expects non-consolidated net sales to be ¥1,019,500, operating profit to be ¥43,500 million, profit to be ¥41,500 million, basic earnings per share to be ¥99.81 against previously guidance of net sales to be ¥1,026,000, operating profit to be ¥48,000 million, profit to be ¥45,000 million, basic earnings per share to be ¥108.23. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥50.06 (vs JP¥3.25 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥324.0b (flat on 3Q 2020). Net income: JP¥20.8b (up JP¥19.5b from 3Q 2020). Profit margin: 6.4% (up from 0.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue beats expectations Revenue exceeded analyst estimates by 5.0%. Over the next year, revenue is expected to shrink by 1.5% compared to a 3.0% growth forecast for the Gas Utilities industry in Germany. Is New 90 Day High Low • Jan 26
New 90-day low: €15.30 The company is down 3.0% from its price of €15.80 on 28 October 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.24 per share. Annonce • Dec 17
Osaka Gas Co., Ltd. to Report Q3, 2021 Results on Feb 01, 2021 Osaka Gas Co., Ltd. announced that they will report Q3, 2021 results on Feb 01, 2021 Reported Earnings • Nov 17
Second quarter 2021 earnings released: EPS JP¥36.49 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥321.7b (up 1.2% from 2Q 2020). Net income: JP¥15.2b (up 215% from 2Q 2020). Profit margin: 4.7% (up from 1.5% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year.