Buy Or Sell Opportunity • Jul 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to JP¥3,245. The fair value is estimated to be JP¥2,679, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 9.5%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 4.8% per annum over the same time period. Declared Dividend • Jul 25
Final dividend of JP¥38.00 announced Dividend of JP¥38.00 is the same as last year. Ex-date: 29th September 2026 Payment date: 30th November 2026 Dividend yield will be 2.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 13% 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 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥265 (up from JP¥242 in FY 2025). Revenue: JP¥171.8b (up 7.6% from FY 2025). Net income: JP¥15.6b (up 12% from FY 2025). Profit margin: 9.1% (up from 8.7% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.8%. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • May 14
Seiren Co.,Ltd. (TSE:3569) announces an Equity Buyback for 2,000,000 shares, representing 3.4% for ¥6,000 million. Seiren Co.,Ltd. (TSE:3569) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 3.4% of the outstanding shares for ¥6,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until March 31, 2027. As of March 31, 2026, the company had 58,807,798 shares outstanding and 5,825,848 shares in treasury. Annuncio • May 13
Seiren Co.,Ltd., Annual General Meeting, Jun 25, 2026 Seiren Co.,Ltd., Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥78.25 (vs JP¥67.57 in 3Q 2025) Third quarter 2026 results: EPS: JP¥78.25 (up from JP¥67.57 in 3Q 2025). Revenue: JP¥42.5b (up 4.9% from 3Q 2025). Net income: JP¥4.60b (up 15% from 3Q 2025). Profit margin: 11% (up from 9.8% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components 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 11% per year. Buy Or Sell Opportunity • Feb 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to JP¥3,115. The fair value is estimated to be JP¥3,913, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 8.8% in the next 2 years. Declared Dividend • Nov 29
First half dividend of JP¥38.00 announced Shareholders will receive a dividend of JP¥38.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 2.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (46% 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 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥66.07 (vs JP¥56.64 in 2Q 2025) Second quarter 2026 results: EPS: JP¥66.07 (up from JP¥56.64 in 2Q 2025). Revenue: JP¥40.4b (up 2.6% from 2Q 2025). Net income: JP¥3.88b (up 21% from 2Q 2025). Profit margin: 9.6% (up from 8.1% in 2Q 2025). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.0%). Price Target Changed • Aug 15
Price target increased by 41% to JP¥3,825 Up from JP¥2,720, the current price target is an average from 2 analysts. New target price is 26% above last closing price of JP¥3,030. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥251 for next year compared to JP¥242 last year. Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: JP¥69.71 (vs JP¥63.49 in 1Q 2025) First quarter 2026 results: EPS: JP¥69.71 (up from JP¥63.49 in 1Q 2025). Revenue: JP¥40.6b (up 5.0% from 1Q 2025). Net income: JP¥4.09b (up 17% from 1Q 2025). Profit margin: 10% (up from 9.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Japan. 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 10% per year. Annuncio • Aug 04
Seiren Co.,Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Seiren Co.,Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company expects net sales of JPY 160,000 million, operating profit of JPY 19,200 million, profit attributable to owners of the parent of JPY 14,300 million and basic earnings per share of JPY 243.38. Annuncio • Jul 09
Seiren Co.,Ltd. to Report Q3, 2026 Results on Feb 09, 2026 Seiren Co.,Ltd. announced that they will report Q3, 2026 results on Feb 09, 2026 Declared Dividend • Jul 09
Final dividend of JP¥38.00 announced Shareholders will receive a dividend of JP¥38.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (30% 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 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥242 (up from JP¥227 in FY 2024). Revenue: JP¥159.7b (up 13% from FY 2024). Net income: JP¥13.9b (up 14% from FY 2024). Profit margin: 8.7% (up from 8.6% in FY 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 3.2%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Auto Components 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 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥242 (up from JP¥227 in FY 2024). Revenue: JP¥159.7b (up 13% from FY 2024). Net income: JP¥13.9b (up 14% from FY 2024). Profit margin: 8.7% (up from 8.6% in FY 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 3.2%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components 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 5% per year, which means it is significantly lagging earnings growth. Annuncio • May 15
Seiren Co.,Ltd., Annual General Meeting, Jun 24, 2025 Seiren Co.,Ltd., Annual General Meeting, Jun 24, 2025. Price Target Changed • Apr 29
Price target decreased by 19% to JP¥2,770 Down from JP¥3,410, the current price target is an average from 2 analysts. New target price is 24% above last closing price of JP¥2,225. Stock is down 16% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥227 last year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,066, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Auto Components industry in Japan. Total returns to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,526 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). Buy Or Sell Opportunity • Feb 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.6% to JP¥2,703. The fair value is estimated to be JP¥3,385, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 10% in the next 2 years. Major Estimate Revision • Feb 14
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥156.1b to JP¥160.0b. EPS estimate increased from JP¥218 to JP¥241 per share. Net income forecast to grow 2.7% next year vs 13% growth forecast for Auto Components industry in Japan. Consensus price target up from JP¥3,410 to JP¥3,510. Share price was steady at JP¥2,738 over the past week. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥67.57 (vs JP¥55.29 in 3Q 2024) Third quarter 2025 results: EPS: JP¥67.57 (up from JP¥55.29 in 3Q 2024). Revenue: JP¥40.5b (up 8.8% from 3Q 2024). Net income: JP¥3.99b (up 35% from 3Q 2024). Profit margin: 9.8% (up from 8.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components 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 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 30
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 23rd June 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (33% 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 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.5%). Reported Earnings • Aug 12
First quarter 2025 earnings released: EPS: JP¥63.49 (vs JP¥58.26 in 1Q 2024) First quarter 2025 results: EPS: JP¥63.49 (up from JP¥58.26 in 1Q 2024). Revenue: JP¥38.7b (up 19% from 1Q 2024). Net income: JP¥3.51b (up 12% from 1Q 2024). Profit margin: 9.1% (in line with 1Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Aug 09
Seiren Co.,Ltd. (TSE:3569) announces an Equity Buyback for 2,000,000 shares, representing 3.62% for ¥6,000 million. Seiren Co.,Ltd. (TSE:3569) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 3.62% of the outstanding shares for ¥6,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until March 31, 2025. As of June 30, 2024, the company had 55,306,679 shares outstanding and 9,326,967 shares in treasury. Declared Dividend • Jul 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 27th September 2024 Payment date: 29th November 2024 Dividend yield will be 2.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (36% 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 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥227 (up from JP¥205 in FY 2023). Revenue: JP¥141.9b (up 7.2% from FY 2023). Net income: JP¥12.2b (up 10% from FY 2023). Profit margin: 8.6% (up from 8.3% 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 4.5%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 16
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥227 (up from JP¥205 in FY 2023). Revenue: JP¥141.9b (up 7.2% from FY 2023). Net income: JP¥12.2b (up 10% from FY 2023). Profit margin: 8.6% (up from 8.3% 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 4.5%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • May 15
Seiren Co.,Ltd., Annual General Meeting, Jun 20, 2024 Seiren Co.,Ltd., Annual General Meeting, Jun 20, 2024. Price Target Changed • Mar 26
Price target increased by 14% to JP¥3,415 Up from JP¥2,995, the current price target is an average from 2 analysts. New target price is 25% above last closing price of JP¥2,738. Stock is up 21% over the past year. The company is forecast to post earnings per share of JP¥217 for next year compared to JP¥205 last year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Annuncio • Mar 02
Seiren Co.,Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Seiren Co.,Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥55.28 (vs JP¥78.11 in 3Q 2023) Third quarter 2024 results: EPS: JP¥55.28 (down from JP¥78.11 in 3Q 2023). Revenue: JP¥37.2b (up 1.2% from 3Q 2023). Net income: JP¥2.96b (down 29% from 3Q 2023). Profit margin: 8.0% (down from 11% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥49.12 (vs JP¥45.87 in 2Q 2023) Second quarter 2024 results: EPS: JP¥49.12 (up from JP¥45.87 in 2Q 2023). Revenue: JP¥34.2b (up 15% from 2Q 2023). Net income: JP¥2.64b (up 6.9% from 2Q 2023). Profit margin: 7.7% (down from 8.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annuncio • Nov 09
Seiren Co.,Ltd. (TSE:3569) announces an Equity Buyback for 1,200,000 shares, representing 2.24% for ¥3,000 million. Seiren Co.,Ltd. (TSE:3569) announces a share repurchase program. Under the program, the company will repurchase 1,200,000 shares, representing 2.24% of the outstanding shares for ¥3,000 million. The purpose of the program is to enhance capital efficiency, improve shareholder returns. The program will run until May 8, 2024. As of September 30, 2023, the company had 53,685,144 shares outstanding and 10,948,502 shares in treasury. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥23.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Price Target Changed • Sep 15
Price target increased by 13% to JP¥3,150 Up from JP¥2,800, the current price target is an average from 2 analysts. New target price is 38% above last closing price of JP¥2,277. Stock is up 11% over the past year. The company is forecast to post earnings per share of JP¥200 for next year compared to JP¥205 last year. Annuncio • Aug 30
Seiren Co.,Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Seiren Co.,Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥58.26 (vs JP¥50.39 in 1Q 2023) First quarter 2024 results: EPS: JP¥58.26 (up from JP¥50.39 in 1Q 2023). Revenue: JP¥32.5b (up 5.2% from 1Q 2023). Net income: JP¥3.12b (up 15% from 1Q 2023). Profit margin: 9.6% (in line with 1Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Jun 24
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥205 (up from JP¥159 in FY 2022). Revenue: JP¥132.4b (up 21% from FY 2022). Net income: JP¥11.0b (up 29% from FY 2022). Profit margin: 8.3% (up from 7.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 21% per year. Reported Earnings • May 17
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥205 (up from JP¥159 in FY 2022). Revenue: JP¥132.4b (up 21% from FY 2022). Net income: JP¥11.0b (up 29% from FY 2022). Profit margin: 8.3% (up from 7.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year. Annuncio • May 16
Seiren Co.,Ltd., Annual General Meeting, Jun 20, 2023 Seiren Co.,Ltd., Annual General Meeting, Jun 20, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥23.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 20% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥78.10 (vs JP¥38.47 in 3Q 2022) Third quarter 2023 results: EPS: JP¥78.10 (up from JP¥38.47 in 3Q 2022). Revenue: JP¥36.8b (up 36% from 3Q 2022). Net income: JP¥4.19b (up 103% from 3Q 2022). Profit margin: 11% (up from 7.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Buying Opportunity • Feb 01
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥2,953, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 26% in the next 2 years. Annuncio • Jan 07
Seiren Co.,Ltd. to Report Q3, 2023 Results on Feb 08, 2023 Seiren Co.,Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Major Estimate Revision • Nov 18
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥172 to JP¥192. Revenue forecast unchanged at JP¥127.0b. Net income forecast to grow 12% next year vs 16% growth forecast for Luxury industry in Japan. Consensus price target of JP¥2,595 unchanged from last update. Share price rose 3.9% to JP¥2,584 over the past week. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥45.87 (vs JP¥37.99 in 2Q 2022) Second quarter 2023 results: EPS: JP¥45.87 (up from JP¥37.99 in 2Q 2022). Revenue: JP¥29.7b (up 16% from 2Q 2022). Net income: JP¥2.47b (up 21% from 2Q 2022). Profit margin: 8.3% (up from 7.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
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 not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. 3 independent directors (9 non-independent directors). Independent Outside Director Kenichiro Sasae was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥45.87 (vs JP¥37.99 in 2Q 2022) Second quarter 2023 results: EPS: JP¥45.87 (up from JP¥37.99 in 2Q 2022). Revenue: JP¥29.7b (up 16% from 2Q 2022). Net income: JP¥2.47b (up 21% from 2Q 2022). Profit margin: 8.3% (up from 7.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Luxury industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% 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 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.0%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥50.39 (vs JP¥45.86 in 1Q 2022) First quarter 2023 results: EPS: JP¥50.39 (up from JP¥45.86 in 1Q 2022). Revenue: JP¥30.9b (up 13% from 1Q 2022). Net income: JP¥2.71b (up 10.0% from 1Q 2022). Profit margin: 8.8% (down from 9.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 10% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 26
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: JP¥109.8b (up 11% from FY 2021). Net income: JP¥8.55b (up 37% from FY 2021). Profit margin: 7.8% (up from 6.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 15%, compared to a 9.7% growth forecast for the industry in Japan. Reported Earnings • May 15
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: JP¥159 (up from JP¥114 in FY 2021). Revenue: JP¥109.8b (up 11% from FY 2021). Net income: JP¥8.55b (up 37% from FY 2021). Profit margin: 7.8% (up from 6.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 8.3%. Over the next year, revenue is forecast to grow 15%, compared to a 8.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to JP¥2,800 Up from JP¥2,375, the current price target is provided by 1 analyst. New target price is 41% above last closing price of JP¥1,991. Stock is up 5.5% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥114 last year. 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. 9 non-independent directors. Independent Outside Director Kenichiro Sasae was the last independent director to join the board, commencing their role in 2019. 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¥18.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.0%). Reported Earnings • Feb 03
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥38.46 (down from JP¥41.44 in 3Q 2021). Revenue: JP¥27.0b (down 1.6% from 3Q 2021). Net income: JP¥2.06b (down 9.4% from 3Q 2021). Profit margin: 7.7% (down from 8.3% in 3Q 2021). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is forecast to grow 6.3%, compared to a 6.3% growth forecast for the 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 4% per year. Price Target Changed • Nov 11
Price target increased to JP¥2,575 Up from JP¥2,375, the current price target is an average from 2 analysts. New target price is 15% above last closing price of JP¥2,240. Stock is up 33% over the past year. The company is forecast to post earnings per share of JP¥152 for next year compared to JP¥114 last year. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥37.99 (vs JP¥17.90 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥25.7b (up 15% from 2Q 2021). Net income: JP¥2.04b (up 105% from 2Q 2021). Profit margin: 7.9% (up from 4.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.6%). Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥45.86 (vs JP¥4.58 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥27.4b (up 30% from 1Q 2021). Net income: JP¥2.46b (up JP¥2.21b from 1Q 2021). Profit margin: 9.0% (up from 1.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Jun 30
Full year 2021 earnings released: EPS JP¥114 (vs JP¥154 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥98.7b (down 18% from FY 2020). Net income: JP¥6.25b (down 27% from FY 2020). Profit margin: 6.3% (down from 7.1% 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 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • May 23
Full year 2021 earnings released: EPS JP¥114 (vs JP¥154 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥98.7b (down 18% from FY 2020). Net income: JP¥6.25b (down 27% from FY 2020). Profit margin: 6.3% (down from 7.1% 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 3% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (1.9%). Is New 90 Day High Low • Mar 16
New 90-day high: JP¥2,000 The company is up 25% from a price of JP¥1,601 on 16 December 2020. Outperformed the Japanese market which is up 10.0% over the last 90 days. Exceeded the Luxury industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,996, the stock is trading at a trailing P/E ratio of 18.5x, up from the previous P/E ratio of 16x. This compares to an average P/E of 18x in the Luxury industry in Japan. Total returns to shareholders over the past three years are 6.2%. Major Estimate Revision • Feb 12
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from JP¥72.00 to JP¥93.22. No change was made to the revenue estimate which at the last update was JP¥97.0b. Net income is expected to grow by 15% next year compared to 13% growth forecast for the Luxury industry in Japan. The consensus price target increased from JP¥1,700 to JP¥2,100. Share price is up 15% to JP¥1,996 over the past week. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥41.44 (vs JP¥41.84 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¥27.4b (down 9.5% from 3Q 2020). Net income: JP¥2.28b (down 1.9% from 3Q 2020). Profit margin: 8.3% (up from 7.7% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 5% per year.