Annonce • May 10
TOA Corporation to Report Fiscal Year 2026 Results on May 13, 2026 TOA Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 13, 2026 Reported Earnings • May 08
Full year 2026 earnings released: EPS: JP¥106 (vs JP¥78.63 in FY 2025) Full year 2026 results: EPS: JP¥106 (up from JP¥78.63 in FY 2025). Revenue: JP¥55.4b (up 9.4% from FY 2025). Net income: JP¥3.31b (up 40% from FY 2025). Profit margin: 6.0% (up from 4.7% 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 26% per year whereas the company’s share price has increased by 22% per year. Annonce • May 07
TOA Corporation, Annual General Meeting, Jun 25, 2026 TOA Corporation, Annual General Meeting, Jun 25, 2026. Buy Or Sell Opportunity • Mar 31
Now 20% undervalued Over the last 90 days, the stock has risen 9.7% to JP¥1,758. The fair value is estimated to be JP¥2,208, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 25%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥48.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 55% and the cash payout ratio is 76%. Trailing yield: 5.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Buy Or Sell Opportunity • Mar 04
Now 20% undervalued Over the last 90 days, the stock has risen 3.6% to JP¥1,725. The fair value is estimated to be JP¥2,164, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 25%. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥46.15 (vs JP¥38.24 in 3Q 2025) Third quarter 2026 results: EPS: JP¥46.15 (up from JP¥38.24 in 3Q 2025). Revenue: JP¥14.6b (up 11% from 3Q 2025). Net income: JP¥1.41b (up 22% from 3Q 2025). Profit margin: 9.6% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Annonce • Dec 24
TOA Corporation to Report Q3, 2026 Results on Feb 03, 2026 TOA Corporation announced that they will report Q3, 2026 results on Feb 03, 2026 New Risk • Dec 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Declared Dividend • Dec 03
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 5.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 16% 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. Earnings per share has grown by 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥1,706, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 159% over the past three years. Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: JP¥26.99 (vs JP¥8.35 in 2Q 2025) Second quarter 2026 results: EPS: JP¥26.99 (up from JP¥8.35 in 2Q 2025). Revenue: JP¥12.9b (up 9.2% from 2Q 2025). Net income: JP¥812.0m (up 224% from 2Q 2025). Profit margin: 6.3% (up from 2.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Annonce • Sep 01
TOA Corporation to Report Q2, 2026 Results on Nov 04, 2025 TOA Corporation announced that they will report Q2, 2026 results on Nov 04, 2025 Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: JP¥0.67 (vs JP¥3.73 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥0.67 (up from JP¥3.73 loss in 1Q 2025). Revenue: JP¥11.2b (up 1.8% from 1Q 2025). Net income: JP¥20.0m (up JP¥132.0m from 1Q 2025). Profit margin: 0.2% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Declared Dividend • Jul 09
Final dividend of JP¥20.00 announced Dividend of JP¥20.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.0%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 7.2% 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. Earnings per share has grown by 5.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings released: EPS: JP¥78.63 (vs JP¥62.58 in FY 2024) Full year 2025 results: EPS: JP¥78.63 (up from JP¥62.58 in FY 2024). Revenue: JP¥50.6b (up 3.7% from FY 2024). Net income: JP¥2.36b (up 18% from FY 2024). Profit margin: 4.7% (up from 4.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Reported Earnings • May 04
Full year 2025 earnings released: EPS: JP¥78.63 (vs JP¥62.58 in FY 2024) Full year 2025 results: EPS: JP¥78.63 (up from JP¥62.58 in FY 2024). Revenue: JP¥50.6b (up 3.7% from FY 2024). Net income: JP¥2.36b (up 18% from FY 2024). Profit margin: 4.7% (up from 4.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 70% 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 (1.5%). Annonce • Mar 06
TOA Corporation to Report Fiscal Year 2025 Results on May 13, 2025 TOA Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: JP¥38.24 (vs JP¥25.45 in 3Q 2024) Third quarter 2025 results: EPS: JP¥38.24 (up from JP¥25.45 in 3Q 2024). Revenue: JP¥13.1b (up 4.8% from 3Q 2024). Net income: JP¥1.15b (up 40% from 3Q 2024). Profit margin: 8.8% (up from 6.6% 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 5% per year whereas the company’s share price has increased by 7% per year. Annonce • Nov 30
TOA Corporation to Report Q3, 2025 Results on Feb 03, 2025 TOA Corporation announced that they will report Q3, 2025 results on Feb 03, 2025 Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥8.35 (vs JP¥24.93 in 2Q 2024) Second quarter 2025 results: EPS: JP¥8.35 (down from JP¥24.93 in 2Q 2024). Revenue: JP¥11.8b (flat on 2Q 2024). Net income: JP¥251.0m (down 69% from 2Q 2024). Profit margin: 2.1% (down from 6.8% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 64% 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 (1.8%). Reported Earnings • Aug 07
First quarter 2025 earnings released: JP¥3.73 loss per share (vs JP¥1.96 loss in 1Q 2024) First quarter 2025 results: JP¥3.73 loss per share (further deteriorated from JP¥1.96 loss in 1Q 2024). Revenue: JP¥11.0b (up 9.3% from 1Q 2024). Net loss: JP¥112.0m (loss widened 78% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JP¥828, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 12% over the past three years. New Risk • Jul 12
New major risk - Revenue and earnings growth Earnings have declined by 4.2% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. This is currently the only risk that has been identified for the company. Annonce • Jun 02
TOA Corporation to Report Q1, 2025 Results on Aug 09, 2024 TOA Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Annonce • May 05
TOA Corporation, Annual General Meeting, Jun 26, 2024 TOA Corporation, Annual General Meeting, Jun 26, 2024. Reported Earnings • May 04
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥62.58 (up from JP¥54.48 in FY 2023). Revenue: JP¥48.8b (up 8.2% from FY 2023). Net income: JP¥2.00b (up 13% from FY 2023). Profit margin: 4.1% (up from 3.9% 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 24%. Revenue is forecast to grow 6.0% p.a. on average during the next 2 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 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.6%). Annonce • Mar 02
TOA Corporation to Report Fiscal Year 2024 Results on May 02, 2024 TOA Corporation announced that they will report fiscal year 2024 results on May 02, 2024 Annonce • Feb 15
TOA Corporation (TSE:6809) announces an Equity Buyback for 2,150,000 shares, representing 6.68% for ¥2,343.5 million. TOA Corporation (TSE:6809) announces a share repurchase program. Under the program, the company will repurchase 2,150,000 shares, representing 4.1% of the issued shares (excluding treasury stock) for ¥2,343.5 million. The shares will be repurchased at ¥1,090 per share. The purpose of the program is to implement flexible capital policies and returns to shareholders in response to changes in the business environment. As of January 31, 2024, the company had 32,181,687 issued shares (excluding treasury stock) and 1,954,948 shares in treasury. Reported Earnings • Feb 04
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: JP¥25.45 (up from JP¥7.77 in 3Q 2023). Revenue: JP¥12.5b (up 11% from 3Q 2023). Net income: JP¥819.0m (up 226% from 3Q 2023). Profit margin: 6.6% (up from 2.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 6.1% 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 5% per year whereas the company’s share price has increased by 9% per year. Annonce • Nov 29
TOA Corporation to Report Q3, 2024 Results on Feb 02, 2024 TOA Corporation announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: JP¥24.93 (up from JP¥11.12 in 2Q 2023). Revenue: JP¥11.8b (up 5.6% from 2Q 2023). Net income: JP¥802.0m (up 122% from 2Q 2023). Profit margin: 6.8% (up from 3.2% in 2Q 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 98%. Revenue is forecast to grow 5.8% 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 increased by 3% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.6%). Price Target Changed • Sep 13
Price target increased by 65% to JP¥1,350 Up from JP¥820, the current price target is provided by 1 analyst. New target price is 15% above last closing price of JP¥1,173. Stock is up 48% over the past year. The company is forecast to post earnings per share of JP¥48.70 for next year compared to JP¥54.48 last year. Reported Earnings • Aug 03
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: JP¥1.96 loss per share (down from JP¥8.20 profit in 1Q 2023). Revenue: JP¥10.0b (up 11% from 1Q 2023). Net loss: JP¥63.0m (down 124% from profit in 1Q 2023). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 5.8% 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 2% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 25
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥54.48 (up from JP¥45.06 in FY 2022). Revenue: JP¥45.1b (up 10% from FY 2022). Net income: JP¥1.77b (up 20% from FY 2022). Profit margin: 3.9% (up from 3.6% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.0% 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 but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 05
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥54.48 (up from JP¥45.06 in FY 2022). Revenue: JP¥45.1b (up 10% from FY 2022). Net income: JP¥1.77b (up 20% from FY 2022). Profit margin: 3.9% (up from 3.6% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 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 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 24 June 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Major Estimate Revision • Feb 23
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from JP¥43.6b to JP¥45.0b. EPS estimate fell from JP¥62.00 to JP¥52.80 per share. Net income forecast to grow 2.3% next year vs 6.7% growth forecast for Consumer Durables industry in Japan. Consensus price target down from JP¥820 to JP¥770. Share price was steady at JP¥789 over the past week. Price Target Changed • Feb 22
Price target decreased by 11% to JP¥770 Down from JP¥870, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥789. Stock is up 3.4% over the past year. The company is forecast to post earnings per share of JP¥52.80 for next year compared to JP¥45.06 last year. Reported Earnings • Feb 03
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: JP¥7.77 (down from JP¥10.54 in 3Q 2022). Revenue: JP¥11.2b (up 10% from 3Q 2022). Net income: JP¥251.0m (down 27% from 3Q 2022). Profit margin: 2.2% (down from 3.4% in 3Q 2022). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 18
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: JP¥11.12 (down from JP¥17.33 in 2Q 2022). Revenue: JP¥11.2b (up 5.3% from 2Q 2022). Net income: JP¥362.0m (down 36% from 2Q 2022). Profit margin: 3.2% (down from 5.3% in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.6% 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 fallen by 11% per year, which means it is performing significantly worse than earnings. 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. 5 non-independent directors. Independent Outside Director Minoru Handa 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 03
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: JP¥11.12 (down from JP¥17.33 in 2Q 2022). Revenue: JP¥11.2b (up 5.3% from 2Q 2022). Net income: JP¥362.0m (down 36% from 2Q 2022). Profit margin: 3.2% (down from 5.3% in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.5% 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 fallen by 13% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 03
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥8.20 (up from JP¥3.20 loss in 1Q 2022). Revenue: JP¥9.08b (up 9.8% from 1Q 2022). Net income: JP¥267.0m (up JP¥371.0m from 1Q 2022). Profit margin: 2.9% (up from net loss in 1Q 2022). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 5.2%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥819, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Consumer Durables industry in Japan. Total loss to shareholders of 24% over the past three years. Annonce • May 05
TOA Corporation, Annual General Meeting, Jun 23, 2022 TOA Corporation, Annual General Meeting, Jun 23, 2022. Reported Earnings • May 04
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥45.06 (down from JP¥48.85 in FY 2021). Revenue: JP¥40.9b (flat on FY 2021). Net income: JP¥1.47b (down 8.1% from FY 2021). Profit margin: 3.6% (down from 3.9% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.0%. Over the next year, revenue is forecast to grow 3.3%, compared to a 5.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 16% per year. Price Target Changed • Apr 27
Price target decreased to JP¥870 Down from JP¥1,200, the current price target is provided by 1 analyst. New target price is 26% above last closing price of JP¥691. Stock is down 20% over the past year. The company is forecast to post earnings per share of JP¥49.00 for next year compared to JP¥48.85 last year. Board Change • Apr 27
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. 5 experienced directors. 4 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Outside Director Masashi Murata 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. Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.6%). Price Target Changed • Feb 20
Price target decreased to JP¥870 Down from JP¥1,200, the current price target is provided by 1 analyst. New target price is 11% above last closing price of JP¥781. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥49.00 for next year compared to JP¥48.85 last year. Reported Earnings • Feb 03
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥10.54 (down from JP¥20.57 in 3Q 2021). Revenue: JP¥10.2b (down 2.1% from 3Q 2021). Net income: JP¥343.0m (down 49% from 3Q 2021). Profit margin: 3.4% (down from 6.4% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 45%. Over the next year, revenue is forecast to grow 6.0%, compared to a 6.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Nov 04
Second quarter 2022 earnings released: EPS JP¥17.33 (vs JP¥6.86 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥10.7b (up 16% from 2Q 2021). Net income: JP¥564.0m (up 153% from 2Q 2021). Profit margin: 5.3% (up from 2.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.4%). Price Target Changed • Sep 07
Price target decreased to JP¥1,025 Down from JP¥1,200, the current price target is an average from 3 analysts. New target price is 19% above last closing price of JP¥862. Stock is up 14% over the past year. Reported Earnings • Jun 26
Full year 2021 earnings released: EPS JP¥48.85 (vs JP¥60.96 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥40.6b (down 10.0% from FY 2020). Net income: JP¥1.60b (down 23% from FY 2020). Profit margin: 3.9% (down from 4.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 09
Full year 2021 earnings released: EPS JP¥48.85 (vs JP¥60.96 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥40.6b (down 10.0% from FY 2020). Net income: JP¥1.60b (down 23% from FY 2020). Profit margin: 3.9% (down from 4.6% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%). Annonce • Mar 06
TOA Corporation to Report Fiscal Year 2021 Results on May 07, 2021 TOA Corporation announced that they will report fiscal year 2021 results on May 07, 2021 Is New 90 Day High Low • Mar 01
New 90-day high: JP¥949 The company is up 9.0% from its price of JP¥873 on 01 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥836 per share. Price Target Changed • Feb 24
Price target raised to JP¥1,100 Up from JP¥925, the current price target is an average from 3 analysts. The new target price is 22% above the current share price of JP¥901. As of last close, the stock is down 9.9% over the past year. Major Estimate Revision • Feb 24
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from JP¥30.80 to JP¥44.80. Revenue estimate for the same period was approximately flat at JP¥41.2b. Net income is expected to grow by 18% next year compared to 7.0% growth forecast for the Consumer Durables industry in Japan. The consensus price target increased from JP¥925 to JP¥1,100. Share price is down by 1.3% to JP¥901 over the past week. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥20.57 (vs JP¥12.54 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥10.4b (flat on 3Q 2020). Net income: JP¥669.0m (up 57% from 3Q 2020). Profit margin: 6.4% (up from 4.1% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 16% per year. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 21%. Over the next year, revenue is forecast to grow 1.7%, compared to a 4.0% growth forecast for the Consumer Durables industry in Japan.