Reported Earnings • Aug 07
First quarter 2027 earnings: EPS and revenues exceed analyst expectations First quarter 2027 results: EPS: JP¥48.85 (up from JP¥47.15 in 1Q 2026). Revenue: JP¥113.7b (up 11% from 1Q 2026). Net income: JP¥6.74b (up 1.8% from 1Q 2026). Profit margin: 5.9% (down from 6.4% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Consumer Durables industry in Japan. 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. Declared Dividend • Jul 25
Final dividend of JP¥53.00 announced Shareholders will receive a dividend of JP¥53.00. Ex-date: 29th September 2026 Payment date: 7th December 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 15% 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 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 12
Rinnai Corporation to Report Q1, 2027 Results on Aug 06, 2026 Rinnai Corporation announced that they will report Q1, 2027 results on Aug 06, 2026 Actualités en direct • May 15
Rinnai Delivers Record Results While Planning Sales Growth and New Global Expansion Rinnai reported record-high sales and profits, supported by higher value-added products, tight cost control and firm results in core markets such as Japan and Australia.
The company absorbed all costs related to product recalls while still lifting overall margins, despite headwinds from tariffs and softer demand in the US and China.
Management outlined a plan through fiscal 2027 that anticipates continued sales growth with profits holding roughly flat, alongside new initiatives in electrification and global expansion.
The mix of record profitability and the ability to handle recall costs suggests Rinnai’s existing business model and product portfolio are currently resilient even as some overseas markets face weaker demand.
The focus on electrification and further international expansion introduces new avenues for the business but also adds execution and regulatory risks that you should weigh against the guidance for largely flat profit levels through fiscal 2027. Reported Earnings • May 13
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥260 (up from JP¥210 in FY 2025). Revenue: JP¥470.4b (up 2.2% from FY 2025). Net income: JP¥36.2b (up 22% from FY 2025). Profit margin: 7.7% (up from 6.5% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.5%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • May 12
Rinnai Corporation, Annual General Meeting, Jun 26, 2026 Rinnai Corporation, Annual General Meeting, Jun 26, 2026. 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: 26 June 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Annonce • Mar 16
Rinnai Corporation to Report Fiscal Year 2026 Results on May 12, 2026 Rinnai Corporation announced that they will report fiscal year 2026 results on May 12, 2026 Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥83.97 (up from JP¥75.47 in 3Q 2025). Revenue: JP¥123.0b (up 2.3% from 3Q 2025). Net income: JP¥11.6b (up 9.3% from 3Q 2025). Profit margin: 9.4% (up from 8.8% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 34%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 06
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 15% 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 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Dec 05
Rinnai Corporation to Report Q3, 2026 Results on Feb 12, 2026 Rinnai Corporation announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: EPS: JP¥66.69 (up from JP¥38.25 in 2Q 2025). Revenue: JP¥113.7b (flat on 2Q 2025). Net income: JP¥9.30b (up 71% from 2Q 2025). Profit margin: 8.2% (up from 4.8% in 2Q 2025). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.8% to JP¥3,412. The fair value is estimated to be JP¥4,267, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Buy Or Sell Opportunity • Oct 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to JP¥3,438. The fair value is estimated to be JP¥4,301, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Annonce • Sep 11
Rinnai Corporation to Report Q2, 2026 Results on Nov 06, 2025 Rinnai Corporation announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥47.15 (down from JP¥47.71 in 1Q 2025). Revenue: JP¥102.7b (up 4.6% from 1Q 2025). Net income: JP¥6.62b (down 2.9% from 1Q 2025). Profit margin: 6.4% (down from 6.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 2.4%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 15% 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 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥210 (up from JP¥185 in FY 2024). Revenue: JP¥460.3b (up 7.0% from FY 2024). Net income: JP¥29.7b (up 11% from FY 2024). Profit margin: 6.5% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annonce • Jun 10
Rinnai Corporation to Report Q1, 2026 Results on Aug 06, 2025 Rinnai Corporation announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 10
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥210 (up from JP¥185 in FY 2024). Revenue: JP¥460.3b (up 7.0% from FY 2024). Net income: JP¥29.7b (up 11% from FY 2024). Profit margin: 6.5% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 7% per year. Annonce • May 10
Rinnai Corporation (TSE:5947) announces an Equity Buyback for 4,000,000 shares, representing 2.84% for ¥10,000 million. Rinnai Corporation (TSE:5947) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.84% of its share capital, for ¥10,000 million. The purpose of the program is to increase corporate value by enhancing shareholder returns and improving capital efficiency. The program will expire on November 28, 2025. As of March 31, 2025, the company had 140,639,588 shares outstanding (excluding treasury shares) and 3,248,983 shares in treasury. Annonce • May 09
Rinnai Corporation, Annual General Meeting, Jun 25, 2025 Rinnai Corporation, Annual General Meeting, Jun 25, 2025. Annonce • Apr 10
Rinnai Corporation to Report Fiscal Year 2025 Results on May 09, 2025 Rinnai Corporation announced that they will report fiscal year 2025 results on May 09, 2025 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: 30 June 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.5%). Buy Or Sell Opportunity • Feb 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to JP¥3,324. The fair value is estimated to be JP¥2,770, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 9.7%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 3.9% per annum over the same time period. Reported Earnings • Feb 13
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥75.47 (up from JP¥66.05 in 3Q 2024). Revenue: JP¥120.2b (up 2.3% from 3Q 2024). Net income: JP¥10.6b (up 12% from 3Q 2024). Profit margin: 8.8% (up from 8.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • Dec 18
Rinnai Corporation to Report Q3, 2025 Results on Feb 12, 2025 Rinnai Corporation announced that they will report Q3, 2025 results on Feb 12, 2025 Declared Dividend • Dec 07
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 14% 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 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: JP¥38.25 (up from JP¥31.96 in 2Q 2024). Revenue: JP¥113.9b (up 11% from 2Q 2024). Net income: JP¥5.43b (up 18% from 2Q 2024). Profit margin: 4.8% (up from 4.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 29% 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 (3.8%). Higher than average of industry peers (1.8%). Annonce • Sep 06
Rinnai Corporation to Report Q2, 2025 Results on Nov 07, 2024 Rinnai Corporation announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: JP¥47.71 (up from JP¥22.49 in 1Q 2024). Revenue: JP¥98.2b (up 9.3% from 1Q 2024). Net income: JP¥6.82b (up 107% from 1Q 2024). Profit margin: 6.9% (up from 3.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 42%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Buy Or Sell Opportunity • Aug 05
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to JP¥2,992. The fair value is estimated to be JP¥3,978, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has declined by 5.4%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 6.7% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 1.9%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (19% earnings payout ratio) but not covered by cash flows (190% cash payout ratio). The dividend has increased by an average of 14% 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 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥185 (up from JP¥177 in FY 2023). Revenue: JP¥430.2b (up 1.2% from FY 2023). Net income: JP¥26.7b (up 2.2% from FY 2023). Profit margin: 6.2% (up from 6.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Annonce • May 11
Rinnai Corporation, Annual General Meeting, Jun 27, 2024 Rinnai Corporation, Annual General Meeting, Jun 27, 2024. Annonce • May 09
Rinnai Corporation (TSE:5947) announces an Equity Buyback for 4,000,000 shares, representing 2.79% for ¥10,000 million. Rinnai Corporation (TSE:5947) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.79% of its share capital, for ¥10,000 million. The company will repurchase its shares in order to further increase corporate value by enhancing shareholder returns and improving capital efficiency. The program will expire on January 31, 2025. As of March 31, 2024, the company had 143,203,548 shares outstanding (excluding treasury shares) and 3,473,623 shares in treasury. Buy Or Sell Opportunity • Apr 18
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.2% to JP¥3,350. The fair value is estimated to be JP¥2,786, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has declined by 6.4%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. 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: 01 July 2024. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.6%). Annonce • Mar 02
Rinnai Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Rinnai Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Price Target Changed • Feb 29
Price target increased by 7.3% to JP¥3,560 Up from JP¥3,319, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥3,489. Stock is up 9.3% over the past year. The company is forecast to post earnings per share of JP¥164 for next year compared to JP¥177 last year. Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥66.05 (up from JP¥54.85 in 3Q 2023). Revenue: JP¥117.5b (down 1.9% from 3Q 2023). Net income: JP¥9.47b (up 18% from 3Q 2023). Profit margin: 8.1% (up from 6.7% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year. Annonce • Feb 09
Rinnai Corporation Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Rinnai Corporation provided dividend guidance for the fiscal year ending March 31, 2024. For the year, the company expects to pay dividend of JPY 30.00 per share against JPY 85.00 per share paid a year ago. Annonce • Dec 03
Rinnai Corporation to Report Q3, 2024 Results on Feb 08, 2024 Rinnai Corporation announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥31.95 (down from JP¥43.13 in 2Q 2023). Revenue: JP¥102.8b (up 3.5% from 2Q 2023). Net income: JP¥4.61b (down 28% from 2Q 2023). Profit margin: 4.5% (down from 6.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Consumer Durables industry in Japan. 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 8% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥30.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Annonce • Aug 31
Rinnai Corporation to Report Q2, 2024 Results on Nov 07, 2023 Rinnai Corporation announced that they will report Q2, 2024 results on Nov 07, 2023 Reported Earnings • Aug 09
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: JP¥22.49 (down from JP¥46.99 in 1Q 2023). Revenue: JP¥89.9b (down 5.4% from 1Q 2023). Net income: JP¥3.29b (down 53% from 1Q 2023). Profit margin: 3.7% (down from 7.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Annonce • Jun 09
Rinnai Corporation to Report Q1, 2024 Results on Aug 04, 2023 Rinnai Corporation announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 12
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥531 (up from JP¥157 in FY 2022). Revenue: JP¥425.2b (up 16% from FY 2022). Net income: JP¥26.1b (up 9.9% from FY 2022). Profit margin: 6.1% (down from 6.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.2%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Consumer Durables industry in Japan. 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 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 01
Price target decreased by 7.4% to JP¥3,638 Down from JP¥3,927, the current price target is an average from 7 analysts. New target price is 12% above last closing price of JP¥3,235. Stock is up 7.7% over the past year. The company posted earnings per share of JP¥157 last year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥75.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 09
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥165 (up from JP¥103 in 3Q 2022). Revenue: JP¥119.7b (up 27% from 3Q 2022). Net income: JP¥8.04b (up 57% from 3Q 2022). Profit margin: 6.7% (up from 5.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Annonce • Dec 07
Rinnai Corporation to Report Q3, 2023 Results on Feb 08, 2023 Rinnai Corporation announced that they will report Q3, 2023 results on Feb 08, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Takashi Kamio was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: JP¥129 (down from JP¥139 in 2Q 2022). Revenue: JP¥99.3b (up 4.3% from 2Q 2022). Net income: JP¥6.37b (down 9.7% from 2Q 2022). Profit margin: 6.4% (down from 7.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 1.3%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 28% and the cash payout ratio is 90%. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.9%).