Buy Or Sell Opportunity • Jun 29
Now 21% undervalued Over the last 90 days, the stock has risen 350% to €91.00. The fair value is estimated to be €116, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 24%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 31% per annum over the same time period. お知らせ • Jun 12
Taiyo Yuden Commercializes Maasa32mad7227mp1d71 Multilayer Ceramic Capacitor for Automotive Applications Taiyo Yuden CO., LTD., has commercialized the "MAASA32MAD7227MP1D71" (3.2 × 2.5 × 2.8 mm, maximum height), a multilayer ceramic capacitor (hereinafter "MLCC"), which complies with "AEC-Q200" certification reliability test standard for passive automotive components. This MLCC more than doubles capacitance when compared to Taiyo Yuden's conventional MLCC, the MAASP32MAD7107MPCA01 (3.2 × 2.5 × 2.8 mm, maximum height; capacitance of 100 µF). This MLCC is designed for output smoothing and decoupling applications in automotive systems, including control systems such as engine ECUs, safety systems including ABS and ADAS, and information processing systems such as instrument clusters. Mass production of this product began in May 2026 at Taiyo Yuden's Tamamura Plant (Sawa-gun, Gunma Prefecture). Modern vehicles are becoming increasingly multifunctional and high performance, driven by advancements in electronic controls due to the evolution of ADAS and functional upgrades through software updates in software-defined vehicles (SDVs). Achieving these capabilities demands advanced automotive electronics including internal and external vehicle networking and the implementation of scalable designs. As vehicle complexity grows, the processing capacity of ICs increases, which necessitates that the onboard MLCCs simultaneously achieve both high reliability and large capacitance. In response to this demand, Taiyo Yuden has commercialized the MAASA32MAD7227MP1D71, achieving large capacitance in a compact 3225-size package for automotive applications. This MLCC offers more than twice the capacitance of Taiyo Yuden's conventional MLCCs, and will contribute to enhancing the overall performance of advanced vehicles. Application: For output smoothing and decoupling applications in automotive systems including control systems such as engine ECUs, safety systems such as ABS and ADAS, and information processing systems such as instrument clusters. Characteristics: Part Number MAASA32MAD7227MP1D71, Capacitance 220 µF, Capacitance Tolerance ±20%, Size 3.2x2.5 mm, Maximum Height 2.8 mm, Rated Voltage 4 V, Characteristic X7T, Operating Temp. Range -55~+125?. Products are tested based on the test conditions and methods defined in AEC-Q200. New Risk • May 25
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 German stocks, typically moving 14% 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. Buy Or Sell Opportunity • May 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 100% to €50.00. The fair value is estimated to be €41.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has declined by 24%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive Operating Officer, GM of Sales Headquarters, Chief of Sales Headquarters & Director Toshiyuki Watanabe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. お知らせ • May 20
Taiyo Yuden Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Taiyo Yuden Co., Ltd. announced that they will report Q1, 2027 results at 3:30 PM, Tokyo Standard Time on Aug 05, 2026 お知らせ • May 14
Taiyo Yuden Co., Ltd. Launches New Metal Power Inductors in Mcoil Lscn Series TAIYO YUDEN CO., LTD. has commenced the mass production of nine new multilayer metal power inductors in its MCOIL™ LSCN series, available in four sizes. The new lineup includes the "LSCND0805FET1R2MJ" (0.8 x 0.45 x 0.65 mm) and the "LSCND1008HKT1R5MF" (1.0 x 0.8 x 0.80 mm). These power inductors are designed for use as choke coils in the power supply circuits of smartphones and wearable devices, including smartwatches and True Wireless Stereo (TWS) earphones. Compared to TAIYO YUDEN's previous smallest multilayer metal power inductor (1.0 x 0.5 x 0.33 mm), the "LSCND0805FET1R2MJ" offers a footprint reduction of approximately 30%. The new "LSCND1008HKT1R5MF" (1.0 x 0.8 x 0.80 mm, nominal inductance 1.5 µH, saturation current 1.2 A) delivers a footprint approximately 40% smaller than the previous "LSCNB1210EKT1R5MB" (1.25 x 1.05 x 0.5 mm, nominal inductance 1.5 µH, saturation current 1.2 A) while maintaining equivalent performance. These products combine excellent DC saturation characteristics with a significantly reduced footprint. Mass production began in April 2026 at TAIYO YUDEN's subsidiary, WAKAYAMA TAIYO YUDEN CO., LTD. (Hidaka-gun, Wakayama Prefecture). Samples are available at 50 yen per unit. Wearable devices must be small and high-performance while supporting extended operating times. TWS earphones in particular are seeing growing demand for multifunctionality, including noise-cancellation, high-resolution audio compatibility, and advanced sensors for wear detection and location tracking. Smartphone performance is likewise advancing rapidly, driven by AI applications for image and video editing and real-time speech translation. These technological advancements require greater power efficiency to extend battery life within increasingly constrained internal space. Consequently, power supply circuits are required to achieve both small size and high efficiency, requiring power inductors with small case sizes that can handle high currents. To address this need, TAIYO YUDEN has expanded the MCOIL™ LSCN series, utilizing metallic magnetic materials with superior DC saturation characteristics to enable further miniaturization. In response to market demands, TAIYO YUDEN will continue to refine its product lineup to deliver higher performance, greater reliability, and smaller form factors. お知らせ • May 08
Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 26, 2026 Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 26, 2026. お知らせ • Jan 07
Taiyo Yuden Co., Ltd. Adds New 1608 Size to its MCOIL™? LACN Series of Multilayer Metal Power Inductor Taiyo Yuden Co., Ltd. has commercialized 14 items, including the multilayer metal power inductor MCOIL™? "LACNF1608KKT1R0MAB" (1.6 x 0.8 x 1.0 mm, maximum height shown), which complies with the "AEC-Q200" certification reliability test standard for passive automotive components. The new product is approximately 49% smaller than previous product, the "LACNF2012KKT1R0MA B" (2.0 x 1.25 x 1.0 mm), and can contribute to the miniaturization and higher performance of power supply circuits installed in automotive vehicles. These products are used as choke coils in DC-DC converters used in automotive engine control systems such as ECUs, safety systems such as ABS, body-related systems such as ADAS, and information systems such as instrument clusters. Mass production of this products began at subsidiary, WAKAYAMA TAIYO YUDEN CO. LTD. (Inami-cho, Hidaka-gun, Wakayama Prefecture), in December 2025. In response, TAIYO YUDen has added a new 1608 size to its MCOIL™? LACN series of multilayer metal power inductors, which boast the advantages of being smaller and thinner, and having an operating temperature range of -55degC to +165degC. proprietary metal materials are bonded to each other by an oxide film using heat treatment, ensuring insulation and providing high heat resistance and thermal conductivity. Thanks to these features, the product exhibits stable characteristics, is able to withstand high temperatures, and achieves high reliability, even in devices used in harsh temperature environments such as automotive applications. TAIYO YUD EN focuses on the development of products that meet market needs, and will continue to expand its power inductors product lineup. お知らせ • Dec 02
Taiyo Yuden Co., Ltd. Commercializes the "HVX" and "HTX (-J) Series of Conductive Polymer Hybrid Aluminum TAIYO YUDEN CO., LTD. has commercialized the new "HVX (-J)" and "HTX (-J) series of conductive polymer hybrid aluminum electrolytic capacitors (hereinafter referred to as "hybrid capacitors") by revamping its "HVX" and "HTX" series, which comply with the AEC-Q200 Stress Test Qualification for Passive Components. The capacitors are used for noise suppression and power smoothing in power supply circuits for control functions such as automotive power steering or safety functions such as ADAS. While rated ripple currents of hybrid capacitors continue to increase in response to increasing currents required for power sources due to the advancement of ADAS, there is a demand for a wide range of sizes and lower profiles to enable greater design flexibility. In September 2025, the company began mass production of the capacitors at the Shirakawa Plant (Nishi-Shirakawa-gun,ukushima Prefecture) and Aomori Plant (Kuroishi City, Aomori Prefecture) of company subsidiary ELNA CO., LTD. (President: Masahiro Kosaka; Head Office: Chuo-ku, Tokyo). Samples are available for JPY 150 per unit. In hybrid capacitors, a conductive polymer and an electrolyte solution are used as the electrolyte. This position takes advantage of the low ESR characteristic of conductive polymers with the self-repairing property of anodic oxide film, which is a characteristic of aluminum electrolytic capacitors, achieving both high performance and reliability. In recent years, automobiles have become increasingly electrified, with a higher number of power circuits for ADAS, electric controls, and electric motors on EVs, and hybrid capacitors are installed for noise suppression in the power circuits and power smoothing. お知らせ • Dec 01
Taiyo Yuden Co., Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Taiyo Yuden Co., Ltd. announced that they will report Q3, 2026 results on Feb 06, 2026 お知らせ • Nov 01
TAYO YUDEN Commercializes 1005M-Size Embeddable Multilayer Ceramic Capacitor with 22-mF Capacitance for AI Servers TAIYO YUDEN CO., LTD. has commercialized and begun mass production of embeddable multilayer ceramic capacitor (MLCC) that achieves a capacitance of 22-mF in a 1005M size (1.0 x 0.5 mm). This ceramic capacitor is an MLCC designed for decoupling applications on IC power lines used in AI servers and other types of information devices. components embedded in a board require high precision in terms of flatness of the external electrodes for connection to the circuit. With respect to this requirement, TAIYO YUDEN has commercialized an embeddable MLCC that achieves a 22-mF capacitance in a 1005M size by enhancing external electrode formation technology and other element technologies. Mass production of the capacitor began at Tamamura Plant (Sawa District, Gunma Prefecture) in August 2025. Samples are available for JPYO YUDEN per unit. AI servers and other types of devices with advanced information processing capabilities are equipped with ICs that consume extremely large amounts of power. For decoupling purposes in such power supply circuits, small, high-capacity MLCCs are required to handle large currents. Additionally, to minimize circuit loss and noise, it is important to route the power supply circuit close to the ICs. Traditional power supply circuits are routed around ICs. But, technological developments are progressing, allowing them to be placed closer, such as on the back of the board or directly under the ICs. Thus, embeddable MLCCs need to be equipped with high-precision external electrodes to connect to the lines. To satisfy this need, TAIYO YudEN has improved its external electrode formation technology and commercialized 1005M-size embeddable MLCC with a capacitance of 22 mF. T T [mm] Rated Rated Capacitance Temp. Temperature [mm] (max.) (max.) voltage capacitance tolerance [%] characteristics [V] [mF] 1.2x0.7 0.8 2.5 22 +-20 -55~+125 X7T2.5 22 +-20-55~+105 X6S. お知らせ • Sep 04
Taiyo Yuden Co., Ltd. to Report Q2, 2026 Results on Nov 06, 2025 Taiyo Yuden Co., Ltd. announced that they will report Q2, 2026 results on Nov 06, 2025 お知らせ • Jun 03
Taiyo Yuden Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Taiyo Yuden Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 お知らせ • Mar 04
Taiyo Yuden Co., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 Taiyo Yuden Co., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 お知らせ • Feb 09
Taiyo Yuden Co., Ltd. Revises Consolidated Earnings Guidance for the Year Ending March 31, 2025 Taiyo Yuden Co., Ltd. revised consolidated earnings guidance for the year ending March 31, 2025. For the year, the company now expects net sales of JPY 338,500 million, operating profit JPY 10,000 million, profit attributable of owners of parent of JPY 5,000 million and basic earnings per share JPY 40.09 compared to the previous guidance of net sales of JPY 330,000 million, operating profit JPY 7,600 million. Rationale: Based on the financial results for the nine-month period ended December 31, 2024, future demand forecasts, and trend of foreign exchange rate fluctuations, and other factors, the Company will revise the full-year consolidated financial results forecasts for the fiscal year ending March 31, 2025 published on November 7. In the fourth quarter, the Company forecasts an improvement in the demand environment, despite the seasonal slump in demand for products for use in communication equipment compared to the third quarter, as demand for products for use in automotive and IT infrastructure/industrial equipment is expected to increase. Additionally, The company expects an extraordinary loss of JPY 1.0 billion as business restructuring expenses. The forecast is based on an average foreign exchange rate for the fourth quarter of USD 1: JPY 153. お知らせ • Nov 30
Taiyo Yuden Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 Taiyo Yuden Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €13.40, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electronic industry in Germany. Total loss to shareholders of 72% over the past three years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: JP¥21.99 loss per share (vs JP¥20.04 profit in 2Q 2024) Second quarter 2025 results: JP¥21.99 loss per share (down from JP¥20.04 profit in 2Q 2024). Revenue: JP¥86.7b (up 4.7% from 2Q 2024). Net loss: JP¥2.74b (down 210% from profit in 2Q 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is on the higher end at 82% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.7%). Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥50.62 (vs JP¥7.25 in 1Q 2024) First quarter 2025 results: EPS: JP¥50.62 (up from JP¥7.25 in 1Q 2024). Revenue: JP¥81.1b (up 12% from 1Q 2024). Net income: JP¥6.31b (up JP¥5.41b from 1Q 2024). Profit margin: 7.8% (up from 1.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. お知らせ • Aug 08
Taiyo Yuden Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Taiyo Yuden Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €21.40, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Electronic industry in Germany. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €38.90 per share. New Risk • Jul 29
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 German stocks, typically moving 6.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 135% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Declared Dividend • Jul 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 168%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (135% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 50% to bring the payout ratio under control. EPS is expected to grow by 110% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €26.60, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 15x in the Electronic industry in Germany. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €31.33 per share. Board Change • Jul 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior Operating Officer & Director Toshiyuki Watanabe was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • May 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.7% to €18.60. The fair value is estimated to be €23.90, 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 declined by 47%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. お知らせ • May 10
Taiyo Yuden Co., Ltd. to Report Q1, 2025 Results on Aug 07, 2024 Taiyo Yuden Co., Ltd. announced that they will report Q1, 2025 results on Aug 07, 2024 Reported Earnings • May 09
Full year 2024 earnings released: EPS: JP¥66.74 (vs JP¥186 in FY 2023) Full year 2024 results: EPS: JP¥66.74 (down from JP¥186 in FY 2023). Revenue: JP¥322.6b (up 1.0% from FY 2023). Net income: JP¥8.32b (down 64% from FY 2023). Profit margin: 2.6% (down from 7.3% in FY 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to €21.20. The fair value is estimated to be €26.78, 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 declined by 30%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 41% per annum over the same time period. お知らせ • Mar 29
Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 27, 2024 Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥2.22 (vs JP¥15.83 in 3Q 2023) Third quarter 2024 results: EPS: JP¥2.22 (down from JP¥15.83 in 3Q 2023). Revenue: JP¥86.4b (up 9.3% from 3Q 2023). Net income: JP¥276.0m (down 86% from 3Q 2023). Profit margin: 0.3% (down from 2.5% in 3Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. 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 19% per year, which means it has not declined as severely as earnings. お知らせ • Feb 08
Taiyo Yuden Co., Ltd. to Report Second Half, 2024 Results on May 08, 2024 Taiyo Yuden Co., Ltd. announced that they will report second half, 2024 results on May 08, 2024 お知らせ • Feb 07
Taiyo Yuden Co., Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024 Taiyo Yuden Co., Ltd. revised consolidated earnings guidance for the fiscal year ending March 31, 2024. For the year, the company expects Net sales of JPY 321,000 million, Operating profit of JPY 10,000 million, Profit attributable to owners of parent of JPY 3,000 million, or JPY 24.07 per basic share compared to the previous guidance of Net sales of JPY 322,000 million, Operating profit of JPY 15,000 million, Profit attributable to owners of parent of JPY 8,000 million, or JPY 64.20 per basic share provided earlier. お知らせ • Nov 09
Taiyo Yuden Co., Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Taiyo Yuden Co., Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: JP¥20.04 (vs JP¥101 in 2Q 2023) Second quarter 2024 results: EPS: JP¥20.04 (down from JP¥101 in 2Q 2023). Revenue: JP¥82.8b (down 4.0% from 2Q 2023). Net income: JP¥2.50b (down 80% from 2Q 2023). Profit margin: 3.0% (down from 15% in 2Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 11% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥45.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.5%). お知らせ • Aug 30
Taiyo Yuden Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023 Taiyo Yuden Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023 New Risk • Aug 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 94% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥7.25 (vs JP¥98.20 in 1Q 2023) First quarter 2024 results: EPS: JP¥7.25 (down from JP¥98.20 in 1Q 2023). Revenue: JP¥72.6b (down 11% from 1Q 2023). Net income: JP¥903.0m (down 93% from 1Q 2023). Profit margin: 1.2% (down from 15% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. お知らせ • May 31
Taiyo Yuden Co., Ltd. to Report Q1, 2024 Results on Aug 03, 2023 Taiyo Yuden Co., Ltd. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 10
Full year 2023 earnings released: EPS: JP¥186 (vs JP¥433 in FY 2022) Full year 2023 results: EPS: JP¥186 (down from JP¥433 in FY 2022). Revenue: JP¥319.5b (down 8.6% from FY 2022). Net income: JP¥23.2b (down 57% from FY 2022). Profit margin: 7.3% (down from 16% in FY 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥45.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.0%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥15.83 (vs JP¥107 in 3Q 2022) Third quarter 2023 results: EPS: JP¥15.83 (down from JP¥107 in 3Q 2022). Revenue: JP¥79.0b (down 12% from 3Q 2022). Net income: JP¥1.97b (down 85% from 3Q 2022). Profit margin: 2.5% (down from 15% in 3Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥101 (vs JP¥123 in 2Q 2022) Second quarter 2023 results: EPS: JP¥101 (down from JP¥123 in 2Q 2022). Revenue: JP¥86.3b (down 2.9% from 2Q 2022). Net income: JP¥12.6b (down 18% from 2Q 2022). Profit margin: 15% (down from 17% in 2Q 2022). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. 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 10% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 4 non-independent directors. Outside Independent Director Emiko Hamada 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. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: JP¥101 (vs JP¥123 in 2Q 2022) Second quarter 2023 results: EPS: JP¥101 (down from JP¥123 in 2Q 2022). Revenue: JP¥86.3b (down 2.9% from 2Q 2022). Net income: JP¥12.6b (down 18% from 2Q 2022). Profit margin: 15% (down from 17% in 2Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. 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 4% per year, which means it is significantly lagging earnings growth. お知らせ • Nov 08
Taiyo Yuden Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Taiyo Yuden Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.2%). お知らせ • Aug 06
Taiyo Yuden Co., Ltd. to Report Q2, 2023 Results on Nov 07, 2022 Taiyo Yuden Co., Ltd. announced that they will report Q2, 2023 results on Nov 07, 2022 Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: JP¥98.20 (vs JP¥103 in 1Q 2022) First quarter 2023 results: EPS: JP¥98.20 (down from JP¥103 in 1Q 2022). Revenue: JP¥81.7b (down 2.5% from 1Q 2022). Net income: JP¥12.2b (down 5.7% from 1Q 2022). Profit margin: 15% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 9.1%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. お知らせ • Jul 15
TAIYO YUDEN Launches Automotive Metal Power Inductor MCOIL™ LCEN Series TAIYO YUDEN CO. LTD. has announced the launch of the wire-wound metal power inductor MCOIL™ LCEN series. Qualified for AEC-Q200 (reliability qualification test standard for automotive passive components), the series consists of 13 items in two sizes, including the LCENA2016MKTR24M0NK (2.0x1.6x1.2 mm, height is the maximum value). This power inductor product is designed for use as a choke coil in power supply circuits for automotive body and information systems. The AEC-Q200 qualified wire-wound metal power inductor MCOIL™ LCEN series is designed based on the metal power inductor MCOIL™ ME series, and maintains its advantages of a large current and a low DC resistance. The LCENA2016MKTR24M0NK (inductance: 0.24 µH) simultaneously features industry-leading DC superposition characteristics (saturation current at 6.8 A) and a low DC resistance (18 mO) (both are the maximum values), contributing to the downsizing and power consumption reduction of power supply circuits for ADAS units and instrument clusters, which are increasingly being upgraded with greater functionality and performance. Production of the product commenced at subsidiary company, FUKUSHIMA TAIYO YUDEN CO., LTD. (Date-shi, Fukushima prefecture, Japan) from May 2022 with a sample price of ¥50 per unit. お知らせ • Jun 02
Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 29, 2022 Taiyo Yuden Co., Ltd., Annual General Meeting, Jun 29, 2022, at 14:00 Tokyo Standard Time. Location: JP Tower Hall & Conference (KITTE 4th Floor) Hall, 2-7-2 Marunouchi, Chiyoda-ku Tokyo Japan Agenda: To report details of the Business Report, the Consolidated Financial Statements and the Non-Consolidated Financial Statements for the 81st Fiscal Term (from April 1, 2021, to March 31, 2022), and results of the audit of the Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Board; to propose appropriation of Surplus; to propose Partial Amendments to the Articles of Incorporation; to propose election of Seven (7) Directors; and to propose Partial Revision of Remuneration Paid to Directors. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥433 (vs JP¥228 in FY 2021) Full year 2022 results: EPS: JP¥433 (up from JP¥228 in FY 2021). Revenue: JP¥349.6b (up 16% from FY 2021). Net income: JP¥54.4b (up 90% from FY 2021). Profit margin: 16% (up from 9.5% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.4%, compared to a 27% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Outside Independent Director Emiko Hamada 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. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (0.8%). お知らせ • Feb 07
Taiyo Yuden Co., Ltd. (TSE:6976) announces an Equity Buyback for 1,200,000 shares, representing 0.96% for ¥5,000 million. Taiyo Yuden Co., Ltd. (TSE:6976) announces a share repurchase program. Under the program, the company will repurchase 1,200,000 shares, representing 0.96% of its share capital for ¥5,000 million. The purpose of the program is to expand shareholder returns and improve capital efficiency, and to implement agile capital policies that respond to future changes in the business environment. The program will continue through March 31, 2022. As of December 31, 2021, the company had 125,587,083 shares outstanding and 4,631,398 shares in treasury. Reported Earnings • Feb 06
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥107 (up from JP¥66.79 in 3Q 2021). Revenue: JP¥89.8b (up 11% from 3Q 2021). Net income: JP¥13.4b (up 60% from 3Q 2021). Profit margin: 15% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.6%, compared to a 23% growth forecast for the industry in Germany. 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 39% per year, which means it is tracking significantly ahead of earnings growth. お知らせ • Feb 05
Taiyo Yuden Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Taiyo Yuden Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Reported Earnings • Nov 06
Second quarter 2022 earnings released: EPS JP¥123 (vs JP¥54.98 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥88.8b (up 11% from 2Q 2021). Net income: JP¥15.5b (up 124% from 2Q 2021). Profit margin: 17% (up from 8.7% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 24% share price gain to €56.00, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Electronic industry in Germany. Total returns to shareholders of 180% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €54.47 per share. Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥103 (vs JP¥36.18 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥83.8b (up 39% from 1Q 2021). Net income: JP¥13.0b (up 186% from 1Q 2021). Profit margin: 16% (up from 7.5% in 1Q 2021). 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 but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥228 (vs JP¥143 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥300.9b (up 6.6% from FY 2020). Net income: JP¥28.6b (up 59% from FY 2020). Profit margin: 9.5% (up from 6.4% in FY 2020). 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 23% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (0.5%). お知らせ • Feb 17
Taiyo Yuden Co., Ltd. to Report Fiscal Year 2021 Results on May 13, 2021 Taiyo Yuden Co., Ltd. announced that they will report fiscal year 2021 results on May 13, 2021 Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS JP¥66.79 (vs JP¥37.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥81.2b (up 13% from 3Q 2020). Net income: JP¥8.38b (up 80% from 3Q 2020). Profit margin: 10% (up from 6.5% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 52% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 9.4%, compared to a 23% growth forecast for the Electronic industry in Germany. Is New 90 Day High Low • Jan 06
New 90-day high: €39.40 The company is up 44% from its price of €27.40 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.85 per share. Reported Earnings • Nov 17
Second quarter 2021 earnings released: EPS JP¥54.98 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JP¥79.7b (up 8.8% from 2Q 2020). Net income: JP¥6.90b (down 16% from 2Q 2020). Profit margin: 8.7% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 17
Revenue beats expectations Revenue exceeded analyst estimates by 7.4%. Over the next year, revenue is forecast to grow 5.1%, compared to a 26% growth forecast for the Electronic industry in Germany. お知らせ • Nov 14
Taiyo Yuden Co., Ltd. to Report Q3, 2021 Results on Feb 08, 2021 Taiyo Yuden Co., Ltd. announced that they will report Q3, 2021 results on Feb 08, 2021 Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS JP¥54.98 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JP¥79.7b (up 8.8% from 2Q 2020). Net income: JP¥6.90b (down 16% from 2Q 2020). Profit margin: 8.7% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 7.4%. Over the next year, revenue is forecast to grow 4.9%, compared to a 24% growth forecast for the Electronic industry in Germany. Is New 90 Day High Low • Nov 09
New 90-day high: €32.20 The company is up 23% from its price of €26.20 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.59 per share. Is New 90 Day High Low • Oct 13
New 90-day high: €29.60 The company is up 8.0% from its price of €27.40 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.22 per share. お知らせ • Oct 05
Taiyo Yuden Co., Ltd. to Report Fiscal Year 2010 Results on 05/13/2010 Taiyo Yuden Co., Ltd. announced that they will report fiscal year 2010 results on 05/13/2010