Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥120 (vs JP¥156 in 2Q 2022) Second quarter 2023 results: EPS: JP¥120 (down from JP¥156 in 2Q 2022). Revenue: JP¥28.1b (up 37% from 2Q 2022). Net income: JP¥941.0m (down 29% from 2Q 2022). Profit margin: 3.4% (down from 6.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 8 highly experienced directors. No independent directors (6 non-independent directors). President, GM of Business Division & Representative Director Daisuke Ohata was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥120 (vs JP¥156 in 2Q 2022) Second quarter 2023 results: EPS: JP¥120 (down from JP¥156 in 2Q 2022). Revenue: JP¥28.1b (up 37% from 2Q 2022). Net income: JP¥941.0m (down 29% from 2Q 2022). Profit margin: 3.4% (down from 6.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Annonce • Oct 26
OE Holdings Corporation completed the acquisition of 41.148455% stake in Itec Corporation (TSE:9964) for ¥8.6 billion. OE Holdings Corporation offered to acquire 47.220893% stake in Itec Corporation (TSE:9964) for ¥9.9 billion on September 6, 2022. As per the terms the offer per share is ¥2700. The tender offer will open from September 8, 2022, and will close on October 24, 2022.
OE Holdings Corporation completed the acquisition of 41.148455% stake in Itec Corporation (TSE:9964) for ¥8.6 billion on October 24, 2022. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 25% share price gain to JP¥2,018, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 6x in the Metals and Mining industry in Japan. Total returns to shareholders of 47% over the past three years. Annonce • Aug 28
Itec Corporation to Report Q2, 2023 Results on Nov 11, 2022 Itec Corporation announced that they will report Q2, 2023 results on Nov 11, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥121 (vs JP¥79.02 in 1Q 2022) First quarter 2023 results: EPS: JP¥121 (up from JP¥79.02 in 1Q 2022). Revenue: JP¥25.3b (up 45% from 1Q 2022). Net income: JP¥946.0m (up 40% from 1Q 2022). Profit margin: 3.7% (down from 3.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Jun 04
Itec Corporation to Report Q1, 2023 Results on Aug 10, 2022 Itec Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥521 (vs JP¥127 in FY 2021) Full year 2022 results: EPS: JP¥521 (up from JP¥127 in FY 2021). Revenue: JP¥84.6b (up 25% from FY 2021). Net income: JP¥4.28b (up 269% from FY 2021). Profit margin: 5.1% (up from 1.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • May 14
Itec Corporation, Annual General Meeting, Jun 29, 2022 Itec Corporation, Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. No independent directors (6 non-independent directors). President, GM of Business Division & Representative Director Daisuke Ohata was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Annonce • Apr 08
Itec Corporation to Report Fiscal Year 2022 Results on May 12, 2022 Itec Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 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: 2.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥182 (up from JP¥47.98 in 3Q 2021). Revenue: JP¥21.5b (up 26% from 3Q 2021). Net income: JP¥1.45b (up 243% from 3Q 2021). Profit margin: 6.7% (up from 2.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥156 (vs JP¥21.08 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥20.5b (up 23% from 2Q 2021). Net income: JP¥1.33b (up JP¥1.14b from 2Q 2021). Profit margin: 6.5% (up from 1.1% 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 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annonce • Sep 29
Itec Corporation (JASDAQ:9964) announces an Equity Buyback for 550,000 shares, representing 6.44% for ¥825 million. Itec Corporation (JASDAQ:9964) announces a share repurchase program. Under the program, the company will repurchase up to 550,000 shares, representing 6.44% of its issued share capital for ¥825 million. The shares will be repurchased at a price of ¥1,399 per share. The purpose of the program is to enhance shareholder returns and improve capital efficiency through agile capital policies. The program is valid till September 28, 2021. As of March 31, 2021, the company had 8,542,174 shares issued (excluding treasury stock) and 2,757,826 shares in treasury. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (2.8%). Reported Earnings • Sep 16
First quarter 2022 earnings released: EPS JP¥79.02 (vs JP¥1.00 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2022 results: Revenue: JP¥17.5b (flat on 1Q 2021). Net income: JP¥675.0m (up JP¥665.0m from 1Q 2021). Profit margin: 3.9% (up from 0.1% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥130 (vs JP¥249 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥67.8b (down 19% from FY 2020). Net income: JP¥1.18b (down 56% from FY 2020). Profit margin: 1.7% (down from 3.3% 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 27% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.5%). Annonce • Mar 11
Itec Corporation to Report Fiscal Year 2021 Results on May 13, 2021 Itec Corporation announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Mar 10
New 90-day low: JP¥1,471 The company is down 2.0% from its price of JP¥1,505 on 10 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥48.89 (vs JP¥42.67 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: JP¥17.1b (down 12% from 3Q 2020). Net income: JP¥430.0m (down 8.1% from 3Q 2020). Profit margin: 2.5% (up from 2.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 21
New 90-day high: JP¥1,596 The company is up 3.0% from its price of JP¥1,547 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 14% over the same period. Reported Earnings • Nov 19
Second quarter 2021 earnings released: EPS JP¥21.85 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥16.7b (down 28% from 2Q 2020). Net income: JP¥198.0m (down 83% from 2Q 2020). Profit margin: 1.2% (down from 5.1% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Second quarter 2021 earnings released: EPS JP¥21.85 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥16.7b (down 28% from 2Q 2020). Net income: JP¥198.0m (down 83% from 2Q 2020). Profit margin: 1.2% (down from 5.1% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annonce • Nov 15
Itec Corporation to Report Q3, 2021 Results on Feb 10, 2021 Itec Corporation announced that they will report Q3, 2021 results on Feb 10, 2021 Is New 90 Day High Low • Oct 12
New 90-day low: JP¥1,457 The company is down 10.0% from its price of JP¥1,624 on 13 July 2020. The Japanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. Upcoming Dividend • Sep 22
Upcoming Dividend of JP¥15.00 Per Share Will be paid on the 6th of December to those who are registered shareholders by the 29th of September. The trailing yield of 1.9% is below the top quartile of Japanese dividend payers (3.1%), but is in line with industry peers (2.1%). Annonce • Sep 03
Itec Corporation to Report Q2, 2021 Results on Nov 11, 2020 Itec Corporation announced that they will report Q2, 2021 results on Nov 11, 2020 Annonce • Jun 29
Itec Corporation to Report Q1, 2021 Results on Aug 07, 2020 Itec Corporation announced that they will report Q1, 2021 results on Aug 07, 2020 