Reported Earnings • May 20
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥53.73 (up from JP¥67.29 loss in FY 2025). Revenue: JP¥666.8b (flat on FY 2025). Net income: JP¥8.89b (up JP¥20.1b from FY 2025). Profit margin: 1.3% (up from net loss in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • May 15
Daio Paper Corporation, Annual General Meeting, Jun 29, 2026 Daio Paper Corporation, Annual General Meeting, Jun 29, 2026. Annonce • May 09
Daio Paper Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Daio Paper Corporation announced that they will report fiscal year 2026 results on May 15, 2026 Annonce • Mar 27
Daio Paper Corporation (TSE:3880) completed the acquisition of 16.24% stake in Hokuetsu Corporation (TSE:3865) from Daio Kaiun Co.,Ltd. and Misuga Kaiun Co., Ltd. Daio Paper Corporation (TSE:3880) agreed to acquire an additional 16.23% stake in Hokuetsu Corporation (TSE:3865) from Daio Kaiun Co.,Ltd. and Misuga Kaiun Co., Ltd. for ¥26.3 billion on March 18, 2026. A cash consideration of ¥26.34 billion will be paid by Daio Paper Corporation. As part of consideration, ¥26.34 billion is paid towards common equity of Hokuetsu Corporation. Before completion, Daio Paper Corporation owns 1.35% stake in Hokuetsu Corporation. Upon completion, Daio Paper Corporation will own 17.58% stake in Hokuetsu Corporation.
The expected completion of the transaction is March 27, 2026.
Daio Paper Corporation (TSE:3880) completed the acquisition of 16.24% stake in Hokuetsu Corporation (TSE:3865) from Daio Kaiun Co.,Ltd. and Misuga Kaiun Co., Ltd. on March 27, 2026. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥26.65 (vs JP¥16.91 loss in 3Q 2025) Third quarter 2026 results: EPS: JP¥26.65 (up from JP¥16.91 loss in 3Q 2025). Revenue: JP¥173.7b (up 3.0% from 3Q 2025). Net income: JP¥4.44b (up JP¥7.25b from 3Q 2025). Profit margin: 2.6% (up from net loss in 3Q 2025). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 03
First half dividend of JP¥7.00 announced Dividend of JP¥7.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (17% cash payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years. However, payments have been volatile during that time. Annonce • Dec 02
Daio Paper Corporation to Report Q3, 2026 Results on Feb 13, 2026 Daio Paper Corporation announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥24.33 (vs JP¥14.33 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥24.33 (up from JP¥14.33 loss in 2Q 2025). Revenue: JP¥161.1b (down 3.7% from 2Q 2025). Net income: JP¥4.05b (up JP¥6.43b from 2Q 2025). Profit margin: 2.5% (up from net loss in 2Q 2025). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.3%). Annonce • Sep 03
Daio Paper Corporation to Report Q2, 2026 Results on Nov 14, 2025 Daio Paper Corporation announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥2.01 (vs JP¥6.51 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥2.01 (up from JP¥6.51 loss in 1Q 2025). Revenue: JP¥158.2b (down 4.8% from 1Q 2025). Net income: JP¥335.0m (up JP¥1.42b from 1Q 2025). Profit margin: 0.2% (up from net loss in 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 09
Final dividend of JP¥7.00 announced Dividend of JP¥7.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (20% cash payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years. However, payments have been volatile during that time. Annonce • Jun 03
Daio Paper Corporation to Report Q1, 2026 Results on Aug 08, 2025 Daio Paper Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: JP¥67.29 loss per share (down from JP¥27.10 profit in FY 2024). Revenue: JP¥668.9b (flat on FY 2024). Net loss: JP¥11.2b (down 348% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 58%. Revenue is forecast to stay flat during the next 3 years compared to a 15% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Annonce • May 15
Daio Paper Corporation, Annual General Meeting, Jun 26, 2025 Daio Paper Corporation, Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.7%). Annonce • Mar 08
Daio Paper Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Daio Paper Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Annonce • Mar 07
Evyap Holding A.S. agreed to acquire Elleair International Turkey Kisisel Bakim Ürünleri Üretim A.S. from Daio Paper Corporation (TSE:3880). Evyap Holding A.S. agreed to acquire Elleair International Turkey Kisisel Bakim Ürünleri Üretim A.S. from Daio Paper Corporation (TSE:3880) on March 6, 2025. The expected completion of the transaction is June 11, 2025 to June 20, 2025. Reported Earnings • Feb 16
Third quarter 2025 earnings released: JP¥16.91 loss per share (vs JP¥11.48 loss in 3Q 2024) Third quarter 2025 results: JP¥16.91 loss per share (further deteriorated from JP¥11.48 loss in 3Q 2024). Revenue: JP¥168.6b (down 2.3% from 3Q 2024). Net loss: JP¥2.81b (loss widened 47% from 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Annonce • Feb 14
Daio Paper Corporation Announces Executive Changes Daio Paper Corporation announced retirement of Yoichiro Yamakawa as Outside Audit & Supervisory Board member and retirement of Toshiki Yamagami. Current position: Managing Executive Officer President and Representative Director of Elleair International Turkey Kiisel Bakim Ürünleri Üretim A.- New position President and Representative Director of Elleair International Turkey Kiisel Bakim Ürünleri Üretim A. Declared Dividend • Dec 04
First half dividend of JP¥9.00 announced Dividend of JP¥9.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (8% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. Annonce • Dec 03
Daio Paper Corporation to Report Q3, 2025 Results on Feb 14, 2025 Daio Paper Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 Annonce • Sep 23
Daio Paper Corporation(TSE:3880) dropped from FTSE All-World Index (USD) Daio Paper Corporation(TSE:3880) dropped from FTSE All-World Index (USD) Upcoming Dividend • Sep 20
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.9%). Annonce • Aug 29
Daio Paper Corporation to Report Q2, 2025 Results on Nov 14, 2024 Daio Paper Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: JP¥6.51 loss per share (vs JP¥19.90 profit in 1Q 2024) First quarter 2025 results: JP¥6.51 loss per share (down from JP¥19.90 profit in 1Q 2024). Revenue: JP¥166.3b (up 2.6% from 1Q 2024). Net loss: JP¥1.08b (down 133% from profit in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Declared Dividend • Jul 11
Final dividend of JP¥7.00 announced Dividend of JP¥7.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (9% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. Price Target Changed • Jun 04
Price target decreased by 15% to JP¥1,125 Down from JP¥1,325, the current price target is an average from 2 analysts. New target price is 30% above last closing price of JP¥865. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥67.90 for next year compared to JP¥27.10 last year. Major Estimate Revision • Jun 04
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥665.8b to JP¥685.0b. EPS estimate increased from JP¥61.60 to JP¥67.90 per share. Net income forecast to grow 151% next year vs 35% growth forecast for Forestry industry in Japan. Consensus price target down from JP¥1,325 to JP¥1,125. Share price fell 6.2% to JP¥865 over the past week. Reported Earnings • May 19
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥27.10 (up from JP¥209 loss in FY 2023). Revenue: JP¥671.7b (up 3.9% from FY 2023). Net income: JP¥4.51b (up JP¥39.2b from FY 2023). Profit margin: 0.7% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 132%. Revenue is forecast to stay flat during the next 2 years compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Annonce • May 17
Daio Paper Corporation, Annual General Meeting, Jun 26, 2024 Daio Paper Corporation, Annual General Meeting, Jun 26, 2024. Buy Or Sell Opportunity • May 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.4% to JP¥980. The fair value is estimated to be JP¥1,251, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.9%). Annonce • Mar 02
Daio Paper Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Daio Paper Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: JP¥11.48 loss per share (vs JP¥94.77 loss in 3Q 2023) Third quarter 2024 results: JP¥11.48 loss per share (improved from JP¥94.77 loss in 3Q 2023). Revenue: JP¥172.5b (flat on 3Q 2023). Net loss: JP¥1.91b (loss narrowed 88% from 3Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 9.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Price Target Changed • Dec 23
Price target decreased by 13% to JP¥1,167 Down from JP¥1,343, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,137. Stock is up 10% over the past year. The company is forecast to post earnings per share of JP¥8.28 next year compared to a net loss per share of JP¥209 last year. Price Target Changed • Dec 14
Price target decreased by 10% to JP¥1,283 Down from JP¥1,427, the current price target is an average from 3 analysts. New target price is 17% above last closing price of JP¥1,100. Stock is up 2.1% over the past year. The company is forecast to post earnings per share of JP¥7.21 next year compared to a net loss per share of JP¥209 last year. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥3.72 (vs JP¥58.20 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥3.72 (up from JP¥58.20 loss in 2Q 2023). Revenue: JP¥169.2b (up 4.9% from 2Q 2023). Net income: JP¥618.0m (up JP¥10.3b from 2Q 2023). Profit margin: 0.4% (up from net loss in 2Q 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥7.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.2%). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥19.90 (vs JP¥8.20 in 1Q 2023) First quarter 2024 results: EPS: JP¥19.90 (up from JP¥8.20 in 1Q 2023). Revenue: JP¥162.0b (up 10.0% from 1Q 2023). Net income: JP¥3.31b (up 143% from 1Q 2023). Profit margin: 2.0% (up from 0.9% in 1Q 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (5.3% average weekly change). Price Target Changed • Jul 25
Price target increased by 7.9% to JP¥1,160 Up from JP¥1,075, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,151. Stock is down 20% over the past year. The company is forecast to post earnings per share of JP¥30.39 next year compared to a net loss per share of JP¥209 last year. Annonce • May 26
Daio Paper Corporation Announces Executive Changes Daio Paper Corporation announces that have resolved at the Board of Directors meeting held on May 12, 2023, to make changes to Representative Directors, etc. and partial change to the announcement "Changes of Directors, etc." dated March 9, 2023. 1. Reasons for Change to the Announcement "Change of Directors, etc." New position Advisor (part-time) Name: Toshihiro Adachi. Current position: Executive Vice President and Representative Director Executive Vice President Responsible for Corporate Unit, Risk & Compliance and Sustainability; General Manager of Business Administration Division, Corporate Unit. 4. Change of Executive Officers (Dated June 29, 2023) (1) Change of Executive Officers: New position Executive Officer Deputy General Manager of Resources and Materials Procurement Division <Responsible for Procurement Planning Division and Overseas Resources Division> Name: Mikiro Shiramine, > Junichi Ikawa: Executive Officer general Manager of Accounting Department, Business Administration Division, Corporate Unit. Reported Earnings • May 17
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: JP¥209 loss per share (down from JP¥143 profit in FY 2022). Revenue: JP¥646.2b (up 5.5% from FY 2022). Net loss: JP¥34.7b (down 246% from profit in FY 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 9.9%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Major Estimate Revision • May 16
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥34.16 to JP¥40.01. Revenue forecast unchanged at JP¥725.0b. Net income forecast to grow 74% next year vs 19% growth forecast for Forestry industry in Japan. Consensus price target of JP¥1,075 unchanged from last update. Share price fell 6.8% to JP¥1,058 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.7%). Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 37% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -JP¥175 to -JP¥240 per share. Revenue forecast of JP¥653.4b unchanged since last update. Forestry industry in Japan expected to see average net income growth of 17% next year. Consensus price target down from JP¥1,223 to JP¥1,148. Share price was steady at JP¥1,065 over the past week. Reported Earnings • Feb 12
Third quarter 2023 earnings released: JP¥94.78 loss per share (vs JP¥33.49 profit in 3Q 2022) Third quarter 2023 results: JP¥94.78 loss per share (down from JP¥33.49 profit in 3Q 2022). Revenue: JP¥172.2b (up 14% from 3Q 2022). Net loss: JP¥15.7b (down 383% from profit in 3Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jan 06
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from -JP¥168 to -JP¥150 per share. Revenue forecast steady at JP¥654.5b. Forestry industry in Japan expected to see average net income growth of 15% next year. Consensus price target down from JP¥1,340 to JP¥1,223. Share price was steady at JP¥998 over the past week. Major Estimate Revision • Dec 03
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 losses forecast to reduce from -JP¥29.82 to -JP¥26.50 per share. Revenue forecast unchanged from JP¥659.8b at last update. Forestry industry in Japan expected to see average net income growth of 9.5% next year. Consensus price target of JP¥1,365 unchanged from last update. Share price fell 4.9% to JP¥1,052 over the past week. 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. 7 non-independent directors. Independent Outside Director Naosuke Oda 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 13
Second quarter 2023 earnings released: JP¥58.20 loss per share (vs JP¥28.54 profit in 2Q 2022) Second quarter 2023 results: JP¥58.20 loss per share (down from JP¥28.54 profit in 2Q 2022). Revenue: JP¥161.4b (up 6.2% from 2Q 2022). Net loss: JP¥9.66b (down 304% from profit in 2Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Forestry industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Oct 08
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 expected loss increased from -JP¥25.61 to -JP¥29.82 per share. Revenue forecast unchanged at JP¥660.7b. Forestry industry in Japan expected to see average net income growth of 21% next year. Consensus price target of JP¥1,365 unchanged from last update. Share price was steady at JP¥1,178 over the past week. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 20% and the cash payout ratio is 78%. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Major Estimate Revision • Sep 15
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥646.0b to JP¥655.6b. Now expected to report loss of -JP¥6.60 instead of JP¥31.41 per share profit. Forestry industry in Japan expected to see average net income decline 28% next year. Consensus price target down from JP¥1,655 to JP¥1,365. Share price was steady at JP¥1,208 over the past week. Price Target Changed • Sep 02
Price target decreased to JP¥1,530 Down from JP¥1,725, the current price target is an average from 4 analysts. New target price is 19% above last closing price of JP¥1,291. Stock is down 41% over the past year. The company is forecast to post earnings per share of JP¥31.41 for next year compared to JP¥143 last year. Annonce • Aug 28
Daio Paper Corporation to Report Q3, 2023 Results on Feb 10, 2023 Daio Paper Corporation announced that they will report Q3, 2023 results on Feb 10, 2023 Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: JP¥8.20 (vs JP¥40.47 in 1Q 2022) First quarter 2023 results: EPS: JP¥8.20 (down from JP¥40.47 in 1Q 2022). Revenue: JP¥147.3b (up 1.6% from 1Q 2022). Net income: JP¥1.36b (down 80% from 1Q 2022). Profit margin: 0.9% (down from 4.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.3%, compared to a 6.6% growth forecast for the 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 only increased by 4% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 09
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥51.43 to JP¥59.75. Revenue forecast steady at JP¥659.8b. Net income forecast to shrink 58% next year vs 16% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,725 to JP¥1,655. Share price rose 2.3% to JP¥1,454 over the past week. Major Estimate Revision • Jun 16
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥646.0b to JP¥655.3b. EPS estimate increased from JP¥46.14 to JP¥51.43 per share. Net income forecast to shrink 64% next year vs 16% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,810 to JP¥1,725. Share price fell 4.2% to JP¥1,393 over the past week. Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥617.7b to JP¥646.0b. EPS estimate fell from JP¥129 to JP¥46.14 per share. Net income forecast to shrink 68% next year vs 20% decline forecast for Forestry industry in Japan. Consensus price target down from JP¥1,998 to JP¥1,810. Share price rose 4.6% to JP¥1,438 over the past week. Price Target Changed • Jun 01
Price target decreased to JP¥1,810 Down from JP¥2,073, the current price target is an average from 4 analysts. New target price is 26% above last closing price of JP¥1,436. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥46.16 for next year compared to JP¥143 last year. Reported Earnings • May 16
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥143 (up from JP¥139 in FY 2021). Revenue: JP¥612.3b (up 8.8% from FY 2021). Net income: JP¥23.7b (up 7.3% from FY 2021). Profit margin: 3.9% (in line with FY 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 4.4%, compared to a 3.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Outside Director Haruko Ozeki 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. 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: 30 June 2022. Payout ratio is a comfortable 7.4% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.3%). Buying Opportunity • Feb 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be JP¥2,092, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% per annum over the last 3 years. Earnings per share has grown by 41% per annum over the last 3 years. Reported Earnings • Feb 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥33.49 (down from JP¥44.50 in 3Q 2021). Revenue: JP¥150.7b (flat on 3Q 2021). Net income: JP¥5.56b (down 25% from 3Q 2021). Profit margin: 3.7% (down from 4.9% in 3Q 2021). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 1.6%, compared to a 2.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.