View ValuationKureha 将来の成長Future 基準チェック /36Kureha利益と収益がそれぞれ年間58.4%と3.6%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に6.9% 56.6%なると予測されています。主要情報58.4%収益成長率56.64%EPS成長率Chemicals 収益成長14.3%収益成長率3.6%将来の株主資本利益率6.90%アナリストカバレッジLow最終更新日12 May 2026今後の成長に関する最新情報Price Target Changed • Apr 21Price target decreased by 17% to JP¥3,533Down from JP¥4,280, the current price target is an average from 3 analysts. New target price is 10% below last closing price of JP¥3,945. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥237 for next year compared to JP¥150 last year.Price Target Changed • Dec 31Price target increased by 8.4% to JP¥4,093Up from JP¥3,774, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,085. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥150 last year.Price Target Changed • Aug 29Price target increased by 17% to JP¥3,544Up from JP¥3,036, the current price target is an average from 5 analysts. New target price is 7.5% below last closing price of JP¥3,830. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥231 for next year compared to JP¥150 last year.Price Target Changed • Mar 19Price target decreased by 8.2% to JP¥2,720Down from JP¥2,963, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,860. Stock is up 3.8% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥173 last year.Major Estimate Revision • Jan 28Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥165.1b to JP¥161.2b. EPS estimate also fell from JP¥178 per share to JP¥157 per share. Net income forecast to grow 11% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target down from JP¥3,063 to JP¥2,963. Share price was steady at JP¥2,839 over the past week.お知らせ • Feb 09Kureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.すべての更新を表示Recent updatesReported Earnings • May 13Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: JP¥267 loss per share (down from JP¥150 profit in FY 2025). Revenue: JP¥161.7b (flat on FY 2025). Net loss: JP¥10.7b (down 237% from profit in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.お知らせ • May 12Kureha Corporation, Annual General Meeting, Jun 25, 2026Kureha Corporation, Annual General Meeting, Jun 25, 2026.Price Target Changed • Apr 21Price target decreased by 17% to JP¥3,533Down from JP¥4,280, the current price target is an average from 3 analysts. New target price is 10% below last closing price of JP¥3,945. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥237 for next year compared to JP¥150 last year.Buy Or Sell Opportunity • Mar 24Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 7.3% to JP¥4,320. The fair value is estimated to be JP¥3,529, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 7.2% per annum over the same time period.Upcoming Dividend • Mar 23Upcoming dividend of JP¥110 per shareEligible shareholders must have bought the stock before 30 March 2026. Payment date: 03 June 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%).お知らせ • Mar 09Kureha Corporation to Report Fiscal Year 2026 Results on May 12, 2026Kureha Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 12, 2026Reported Earnings • Feb 10Third quarter 2026 earnings released: EPS: JP¥102 (vs JP¥47.71 in 3Q 2025)Third quarter 2026 results: EPS: JP¥102 (up from JP¥47.71 in 3Q 2025). Revenue: JP¥40.4b (flat on 3Q 2025). Net income: JP¥3.92b (up 60% from 3Q 2025). Profit margin: 9.7% (up from 6.1% in 3Q 2025). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings.分析記事 • Feb 05Kureha's (TSE:4023) Dividend Will Be ¥109.50Kureha Corporation's ( TSE:4023 ) investors are due to receive a payment of ¥109.50 per share on 3rd of June. This...分析記事 • Jan 07Kureha's (TSE:4023) Returns Have Hit A WallIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Price Target Changed • Dec 31Price target increased by 8.4% to JP¥4,093Up from JP¥3,774, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,085. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥150 last year.分析記事 • Dec 11Kureha (TSE:4023) Will Pay A Dividend Of ¥109.50The board of Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend on the 3rd of June, with...Declared Dividend • Dec 11First half dividend of JP¥110 announcedShareholders will receive a dividend of JP¥110. Ex-date: 30th March 2026 Payment date: 3rd June 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but 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 20% 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 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Dec 01Kureha Corporation to Report Q3, 2026 Results on Feb 09, 2026Kureha Corporation announced that they will report Q3, 2026 results at 3:30 PM, Tokyo Standard Time on Feb 09, 2026Reported Earnings • Nov 13Second quarter 2026 earnings released: EPS: JP¥111 (vs JP¥52.58 in 2Q 2025)Second quarter 2026 results: EPS: JP¥111 (up from JP¥52.58 in 2Q 2025). Revenue: JP¥40.8b (up 2.9% from 2Q 2025). Net income: JP¥4.26b (up 53% from 2Q 2025). Profit margin: 10% (up from 7.0% in 2Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Upcoming Dividend • Sep 22Upcoming dividend of JP¥110 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.6%).分析記事 • Sep 03Kureha's (TSE:4023) Upcoming Dividend Will Be Larger Than Last Year'sKureha Corporation ( TSE:4023 ) will increase its dividend from last year's comparable payment on the 3rd of December...お知らせ • Sep 03Kureha Corporation to Report Q2, 2026 Results on Nov 11, 2025Kureha Corporation announced that they will report Q2, 2026 results at 3:30 PM, Tokyo Standard Time on Nov 11, 2025Price Target Changed • Aug 29Price target increased by 17% to JP¥3,544Up from JP¥3,036, the current price target is an average from 5 analysts. New target price is 7.5% below last closing price of JP¥3,830. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥231 for next year compared to JP¥150 last year.分析記事 • Aug 29Investors Could Be Concerned With Kureha's (TSE:4023) Returns On CapitalIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a...分析記事 • Aug 13Kureha (TSE:4023) Will Pay A Larger Dividend Than Last Year At ¥108.00The board of Kureha Corporation ( TSE:4023 ) has announced that it will be increasing its dividend by 149% on the 3rd...Reported Earnings • Aug 09First quarter 2026 earnings released: EPS: JP¥45.34 (vs JP¥52.73 in 1Q 2025)First quarter 2026 results: EPS: JP¥45.34 (down from JP¥52.73 in 1Q 2025). Revenue: JP¥36.5b (down 13% from 1Q 2025). Net income: JP¥2.06b (down 28% from 1Q 2025). Profit margin: 5.6% (down from 6.8% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. 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 1% per year, which means it has not declined as severely as earnings.分析記事 • Jul 23Kureha (TSE:4023) Is Paying Out A Larger Dividend Than Last YearKureha Corporation ( TSE:4023 ) has announced that it will be increasing its periodic dividend on the 3rd of December...分析記事 • Jul 09Kureha (TSE:4023) Is Increasing Its Dividend To ¥108.00Kureha Corporation ( TSE:4023 ) will increase its dividend on the 3rd of December to ¥108.00, which is 149% higher than...Declared Dividend • Jul 09Final dividend increased to JP¥108Dividend of JP¥108 is 149% higher than last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but 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 9.0% 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 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Jul 01Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥150 (down from JP¥173 in FY 2024). Revenue: JP¥162.0b (down 9.0% from FY 2024). Net income: JP¥7.80b (down 20% from FY 2024). Profit margin: 4.8% (down from 5.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.0%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% 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.お知らせ • Jun 09Kureha Corporation to Report Q1, 2026 Results on Aug 08, 2025Kureha Corporation announced that they will report Q1, 2026 results at 3:30 PM, Tokyo Standard Time on Aug 08, 2025New Risk • Jun 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.3% average weekly change).お知らせ • Jun 03Kureha Corporation (TSE:4023) announces an Equity Buyback for 10,000,000 shares, representing 20.66% for ¥35,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 10,000,000 shares, representing 20.66% of the outstanding shares for ¥35,000 million. The purpose of the program is enhancement of shareholder returns, further improvements in capital efficiency, and a flexible capital policy that is responsive to the business environment. The program will run until September 30, 2025. As of May 31, 2025, the company had 48,411,662 shares outstanding (excluding treasury stock) and 7,021,559 shares in treasury.分析記事 • May 20Kureha Corporation's (TSE:4023) P/E Is Still On The Mark Following 36% Share Price BounceKureha Corporation ( TSE:4023 ) shares have had a really impressive month, gaining 36% after a shaky period beforehand...Buy Or Sell Opportunity • May 20Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 20% to JP¥3,355. The fair value is estimated to be JP¥2,779, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are also forecast to grow by 13% per annum over the same time period.お知らせ • May 13Kureha Corporation (TSE:4023) announces an Equity Buyback for 5,600,000 shares, representing 11.26% for ¥15,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 5,600,000 shares, representing 11.26% of the outstanding shares for ¥15,000 million. The purpose of the program is to strengthen shareholder return policies and improve capital efficiency. The program will run until March 31, 2026. As of March 31, 2025, the company had 49,742,195 shares outstanding (excluding treasury stock) and 5,691,026 shares in treasury.Reported Earnings • May 13Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥150 (down from JP¥173 in FY 2024). Revenue: JP¥162.0b (down 9.0% from FY 2024). Net income: JP¥7.80b (down 20% from FY 2024). Profit margin: 4.8% (down from 5.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% 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.分析記事 • May 12Are Investors Undervaluing Kureha Corporation (TSE:4023) By 47%?Key Insights Kureha's estimated fair value is JP¥5,116 based on 2 Stage Free Cash Flow to Equity Current share price of...お知らせ • May 12+ 2 more updatesKureha Corporation, Annual General Meeting, Jun 26, 2025Kureha Corporation, Annual General Meeting, Jun 26, 2025.お知らせ • Apr 25Kureha Corporation Announces Dividend for Year End March 31, 2025, Payable on June 3, 2025Kureha Corporation announced Dividend for Year End March 31, 2025, Payable on June 3, 2025. For the period, the company reported dividend of JPY 43.35 per share against JPY 43.34 per share from a year ago. Total dividend payout JPY 2,156 million yen.Upcoming Dividend • Mar 21Upcoming dividend of JP¥43.35 per shareEligible shareholders must have bought the stock before 28 March 2025. Payment date: 04 June 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%).Price Target Changed • Mar 19Price target decreased by 8.2% to JP¥2,720Down from JP¥2,963, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,860. Stock is up 3.8% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥173 last year.分析記事 • Mar 04Kureha's (TSE:4023) Dividend Will Be ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...お知らせ • Mar 03Kureha Corporation to Report Fiscal Year 2025 Results on May 12, 2025Kureha Corporation announced that they will report fiscal year 2025 results at 3:30 PM, Tokyo Standard Time on May 12, 2025分析記事 • Feb 17Kureha's (TSE:4023) Conservative Accounting Might Explain Soft EarningsSoft earnings didn't appear to concern Kureha Corporation's ( TSE:4023 ) shareholders over the last week. We did some...Reported Earnings • Feb 11Third quarter 2025 earnings released: EPS: JP¥47.71 (vs JP¥62.31 in 3Q 2024)Third quarter 2025 results: EPS: JP¥47.71 (down from JP¥62.31 in 3Q 2024). Revenue: JP¥40.4b (down 9.0% from 3Q 2024). Net income: JP¥2.45b (down 29% from 3Q 2024). Profit margin: 6.1% (down from 7.8% in 3Q 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% 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.分析記事 • Feb 03Returns On Capital Signal Tricky Times Ahead For Kureha (TSE:4023)What are the early trends we should look for to identify a stock that could multiply in value over the long term...Major Estimate Revision • Jan 28Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥165.1b to JP¥161.2b. EPS estimate also fell from JP¥178 per share to JP¥157 per share. Net income forecast to grow 11% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target down from JP¥3,063 to JP¥2,963. Share price was steady at JP¥2,839 over the past week.分析記事 • Dec 23Kureha (TSE:4023) Will Pay A Dividend Of ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...分析記事 • Dec 04Kureha (TSE:4023) Has Announced A Dividend Of ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...Declared Dividend • Dec 04First half dividend increased to JP¥43.35Dividend of JP¥43.35 is 0.02% higher than last year. Ex-date: 28th March 2025 Payment date: 4th June 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but 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 10% 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 89% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Dec 03Kureha Corporation to Report Q3, 2025 Results on Feb 10, 2025Kureha Corporation announced that they will report Q3, 2025 results at 3:30 PM, Tokyo Standard Time on Feb 10, 2025Reported Earnings • Nov 13Second quarter 2025 earnings released: EPS: JP¥52.58 (vs JP¥62.76 in 2Q 2024)Second quarter 2025 results: EPS: JP¥52.58 (down from JP¥62.76 in 2Q 2024). Revenue: JP¥39.7b (down 11% from 2Q 2024). Net income: JP¥2.78b (down 22% from 2Q 2024). Profit margin: 7.0% (down from 8.0% in 2Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% 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.Upcoming Dividend • Sep 20Upcoming dividend of JP¥43.35 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%).お知らせ • Sep 02Kureha Corporation to Report Q2, 2025 Results on Nov 11, 2024Kureha Corporation announced that they will report Q2, 2025 results on Nov 11, 2024分析記事 • Aug 06Investors Could Be Concerned With Kureha's (TSE:4023) Returns On CapitalIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Declared Dividend • Jul 11Final dividend of JP¥43.35 announcedShareholders will receive a dividend of JP¥43.35. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but 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 10% 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 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover.分析記事 • Jul 03There May Be Some Bright Spots In Kureha's (TSE:4023) EarningsSoft earnings didn't appear to concern Kureha Corporation's ( TSE:4023 ) shareholders over the last week. We think that...Board Change • Jun 27Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). CEO, President & Director Yutaka Kobayashi is the most experienced director on the board, commencing their role in 2009. Independent Outside Audit & Supervisory Board Member Katsuo Okuno was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.お知らせ • Jun 14Kureha Corporation to Report Q1, 2025 Results on Aug 08, 2024Kureha Corporation announced that they will report Q1, 2025 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2024お知らせ • May 15Kureha Corporation, Annual General Meeting, Jun 26, 2024Kureha Corporation, Annual General Meeting, Jun 26, 2024.お知らせ • May 14Kureha Corporation (TSE:4023) announces an Equity Buyback for 5,600,000 shares, representing 10.18% for ¥15,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 5,600,000 shares, representing 10.18% of the outstanding shares for ¥15,000 million. The purpose of the program is to strengthen shareholder returns and enhance capital efficiency. The program will run until March 31, 2025. As of March 31, 2024, the company had 55,032,323 shares outstanding (excluding treasury stock) and 3,543,898 shares in treasuryお知らせ • Mar 27Kureha Changshu Fluoropolymer Co., Ltd. Discontinues PVDF Facility Expansion in China, Withdraws from Heat Shrink Multilayer Film BusinessKureha Corporation announced its decision to discontinue a capacity expansion project for polyvinylidene fluoride (PVDF) at its wholly-owned subsidiary, Kureha Changshu Fluoropolymer Co. Ltd. in China. The expansion project was originally made public on July 20, 2021. In addition, Kureha announced it will withdraw from the heat shrink multilayer film business, a part of its food packaging line which the company operates primarily in Europe and Australia. Details are as follows. Kureha PVDF is used as a binder material for lithium-ion secondary batteries (LiBs) and also as an engineering plastic in various industrial applications. In July 2021, Kureha announced its plan to address growing demand for PVDF binder in the automotive LiB market, propelled by robust electric vehicle sales amid heightened environmental awareness, and expand PVDF production at the China Changshu facility. However, this capacity expansion project has been delayed due to changes in China's environment policy, and Furthermore, the business environment surrounding LiBs has changed following the enactment of the U.S. Inflation Reduction Act. Under these circumstances, Kureha decided in August 2023 to move ahead with the capacity expansion for PVDF at its Japan Iwaki Factory. The company now expect this enhanced capacity in Japan will be sufficient to meet the immediate increase in demand. Given this outlook and foreseeable difficulties in China-to-US exports under the new U.S. law, Kureha has therefore determined to discontinue the facility expansion in China. Meanwhile, Kureha will continue PVDF manufacturing operations at the China Changshu facilities for customers mainly in China and Europe. The company is also working to develop differentiated binder grades suitable for iron phosphate (LFP) LiBs, a major type of LiB used in China, and is planning over a medium to long term to expand share in the China market, suggesting that there are possibilities for reinvestment in the country if business conditions change. Kureha will continue to closely monitor market trends, maintain optimal production operations, and steadily expand the PVDF business. Details of the China facility expansion to be discontinued. Facility location: Changshu, Jiangsu Province, PRC (within the Advanced Materials Industrial Park) Assets: Equipment and buildings. Capital investment: JPY 18 billion - JPY 20 billion. Withdrawal from the heat shrink multilayer film business: Kureha has developed and operated the business of heat shrink multilayer film for food packaging mainly in Europe. For past years the company has worked to improve profitability by shifting to high- performance products and striving to reduce fixed costs, however, the company find it increasingly difficult to differentiate the company's products that do not use raw materials produced in-house, while facing cost pressures amid the European inflation. Kureha has now determined the business continuation was unfeasible and started proceedings to withdraw from the business. The Kureha Group has continually optimized its product portfolio in the food packaging businesses over the years, including withdrawing from the deep-draw film business in 2018 and divesting the blow bottle business in 2019 and a joint venture to manufacture polyvinylidene chloride (PVDC) in China in 2022. Going forward, the company aim to improve capital efficiency by focusing on the PVDC films business using in-house raw materials, allocate resources more effectively, and restructure the food packaging business that will increase corporate value. Details of the business withdrawal: Key products: Heat shrink multilayer film products for food packaging; Market areas: Europe, Australia, Japan; Kureha subsidiaries to be dissolved: KREHALON B.V., KREHALON AUSTRALIA PTY. LTD., etc.Upcoming Dividend • Mar 21Upcoming dividend of JP¥43.34 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%).お知らせ • Mar 02Kureha Corporation to Report Fiscal Year 2024 Results on May 13, 2024Kureha Corporation announced that they will report fiscal year 2024 results at 3:00 PM, Tokyo Standard Time on May 13, 2024Buy Or Sell Opportunity • Feb 14Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.0% to JP¥2,678. The fair value is estimated to be JP¥3,358, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 4.6%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 49% in the next 2 years.お知らせ • Feb 09Kureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.Reported Earnings • Feb 09Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: JP¥44.4b (down 6.1% from 3Q 2023). Net income: JP¥3.44b (down 37% from 3Q 2023). Profit margin: 7.8% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Chemicals 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 5% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Jan 29Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥184.5b to JP¥178.4b. EPS estimate also fell from JP¥252 per share to JP¥198 per share. Net income forecast to grow 18% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target broadly unchanged at JP¥3,122. Share price was steady at JP¥2,865 over the past week.お知らせ • Dec 09Kureha Corporation to Report Q3, 2024 Results on Feb 07, 2024Kureha Corporation announced that they will report Q3, 2024 results at 3:00 PM, Tokyo Standard Time on Feb 07, 2024お知らせ • Nov 11+ 2 more updatesKureha Corporation Provides Dividend Guidance for the Year Ending March 31, 2024Kureha Corporation provided dividend guidance for the year ending March 31, 2024. For the period, the company expects to pay dividend of JPY 130.00 per share compared to JPY 145.00 per share a year ago.Reported Earnings • Nov 10Second quarter 2024 earnings released: EPS: JP¥188 (vs JP¥345 in 2Q 2023)Second quarter 2024 results: EPS: JP¥188 (down from JP¥345 in 2Q 2023). Revenue: JP¥44.7b (down 15% from 2Q 2023). Net income: JP¥3.56b (down 47% from 2Q 2023). Profit margin: 8.0% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year.Valuation Update With 7 Day Price Move • Oct 13Investor sentiment improves as stock rises 15%After last week's 15% share price gain to JP¥9,310, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥14,781 per share.Upcoming Dividend • Sep 21Upcoming dividend of JP¥130 per share at 3.0% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%).お知らせ • Sep 05Kureha Corporation to Report Q2, 2024 Results on Nov 09, 2023Kureha Corporation announced that they will report Q2, 2024 results at 3:00 PM, Tokyo Standard Time on Nov 09, 2023New Risk • Aug 16New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 119% Dividend yield: 3.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥167 (vs JP¥280 in 1Q 2023)First quarter 2024 results: EPS: JP¥167 (down from JP¥280 in 1Q 2023). Revenue: JP¥43.8b (down 11% from 1Q 2023). Net income: JP¥3.24b (down 41% from 1Q 2023). Profit margin: 7.4% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals 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 22% per year.お知らせ • Jun 02Kureha Corporation to Report Q1, 2024 Results on Aug 08, 2023Kureha Corporation announced that they will report Q1, 2024 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2023お知らせ • May 19+ 2 more updatesKureha Provides Dividend Guidance for the Full Year Ending March 31, 2024Kureha Corporation provided dividend guidance for the full year ending March 31, 2024. The company expects to pay year end dividend of JPY 130 per share.Reported Earnings • May 16Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥864 (up from JP¥726 in FY 2022). Revenue: JP¥191.3b (up 14% from FY 2022). Net income: JP¥16.9b (up 19% from FY 2022). Profit margin: 8.8% (up from 8.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 23% per year.お知らせ • May 14+ 1 more updateKureha Corporation, Annual General Meeting, Jun 27, 2023Kureha Corporation, Annual General Meeting, Jun 27, 2023.Upcoming Dividend • Mar 23Upcoming dividend of JP¥125 per share at 3.0% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.8%).Buying Opportunity • Mar 14Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 9.5%. The fair value is estimated to be JP¥10,250, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings is also forecast to grow by 3.7% per annum over the same time period.Reported Earnings • Feb 08Third quarter 2023 earnings released: EPS: JP¥280 (vs JP¥256 in 3Q 2022)Third quarter 2023 results: EPS: JP¥280 (up from JP¥256 in 3Q 2022). Revenue: JP¥47.2b (up 7.2% from 3Q 2022). Net income: JP¥5.47b (up 9.5% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year.お知らせ • Feb 07+ 1 more updateKureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2023. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.Buying Opportunity • Jan 16Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be JP¥10,064, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings is also forecast to grow by 5.1% per annum over the same time period.お知らせ • Dec 02Kureha Corporation to Report Q3, 2023 Results on Feb 07, 2023Kureha Corporation announced that they will report Q3, 2023 results at 3:00 PM, Tokyo Standard Time on Feb 07, 2023Reported Earnings • Nov 18Second quarter 2023 earnings released: EPS: JP¥345 (vs JP¥257 in 2Q 2022)Second quarter 2023 results: EPS: JP¥345 (up from JP¥257 in 2Q 2022). Revenue: JP¥52.5b (up 27% from 2Q 2022). Net income: JP¥6.73b (up 34% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Nov 16Less than half of directors are independentFollowing 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. Independent Outside Director Osaumu Iida was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 11Second quarter 2023 earnings released: EPS: JP¥625 (vs JP¥257 in 2Q 2022)Second quarter 2023 results: EPS: JP¥625 (up from JP¥257 in 2Q 2022). Revenue: JP¥101.8b (up 147% from 2Q 2022). Net income: JP¥12.2b (up 143% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals 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.Upcoming Dividend • Sep 22Upcoming dividend of JP¥125 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.9%).Reported Earnings • Aug 11First quarter 2023 earnings released: EPS: JP¥280 (vs JP¥169 in 1Q 2022)First quarter 2023 results: EPS: JP¥280 (up from JP¥169 in 1Q 2022). Revenue: JP¥49.3b (up 30% from 1Q 2022). Net income: JP¥5.46b (up 65% from 1Q 2022). Profit margin: 11% (up from 8.7% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.2%, compared to a 9.2% growth forecast for the industry in Japan. 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 20% per year, which means it is well ahead of earnings.Board Change • Jul 14Less than half of directors are independentFollowing 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. Independent Outside Director Osaumu Iida was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Major Estimate Revision • May 24Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥974 to JP¥794. Revenue forecast unchanged from JP¥182.0b at last update. Net income forecast to grow 24% next year vs 4.3% growth forecast for Chemicals industry in Japan. Consensus price target broadly unchanged at JP¥11,288. Share price was steady at JP¥9,640 over the past week.Reported Earnings • May 16Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: JP¥726 (up from JP¥691 in FY 2021). Revenue: JP¥168.3b (up 16% from FY 2021). Net income: JP¥14.2b (up 5.0% from FY 2021). Profit margin: 8.4% (down from 9.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 8.1%, compared to a 7.9% growth forecast for the industry in Japan. 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 12% per year, which means it is well ahead of earnings.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Outside Director Osamu Tosaka was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.業績と収益の成長予測TSE:4023 - アナリストの将来予測と過去の財務データ ( )JPY Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/2029180,50012,4005,700N/A13/31/2028179,00011,9874,20028,47433/31/2027169,50010,1002,60023,40613/31/2026161,688-10,6934,74728,009N/A12/31/2025157,7669,938-4,08224,627N/A9/30/2025157,7618,467-15,63818,704N/A6/30/2025156,6216,991-20,60924,525N/A3/31/2025162,0157,800-14,31229,525N/A12/31/2024167,1317,592-4,54426,607N/A9/30/2024171,1248,588-17,01328,458N/A6/30/2024176,1489,367-6,60525,753N/A3/31/2024177,9739,734-21,09911,601N/A12/31/2023175,1519,449-14,06420,024N/A9/30/2023178,01211,4757,63321,308N/A6/30/2023185,75614,6454,19519,018N/A3/31/2023191,27716,8688,50522,744N/A12/31/2022194,21018,5019,80124,829N/A9/30/2022191,02718,02610,06723,727N/A6/30/2022179,77316,32111,28223,425N/A3/31/2022168,34114,16415,99528,581N/A12/31/2021162,00115,03216,60527,993N/A9/30/2021157,60617,00814,81728,898N/A6/30/2021150,95814,74716,91831,390N/A3/31/2021144,57513,49313,82626,704N/A12/31/2020142,6474,7809,39424,384N/A9/30/2020138,85810,1758,39919,869N/A6/30/2020141,83812,1241,78414,747N/A3/31/2020142,39813,7191,50115,150N/A12/31/2019142,89023,541N/A13,939N/A9/30/2019145,37716,969N/A19,643N/A6/30/2019145,73515,078N/A21,840N/A3/31/2019148,26513,933N/A23,377N/A12/31/2018147,89211,291N/A20,672N/A9/30/2018150,2989,255N/A19,752N/A6/30/2018149,44110,595N/A16,851N/A3/31/2018147,3299,697N/A20,178N/A12/31/2017149,1319,202N/A16,980N/A9/30/2017141,5639,712N/A15,092N/A6/30/2017136,4468,636N/A14,332N/A3/31/2017132,2947,001N/A12,350N/A12/31/2016130,5339,832N/AN/AN/A9/30/2016133,9147,038N/A16,586N/A6/30/2016137,9676,366N/AN/AN/A3/31/2016142,5497,342N/A14,045N/A12/31/2015139,4433,810N/AN/AN/A9/30/2015145,5968,169N/A13,880N/A6/30/2015149,1439,417N/AN/AN/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 4023は今後 3 年間で収益性が向上すると予測されており、これは 貯蓄率 ( 0.8% ) よりも高い成長率であると考えられます。収益対市場: 4023今後 3 年間で収益性が向上すると予想されており、これは市場平均を上回る成長と考えられます。高成長収益: 4023今後 3 年以内に収益を上げることが予想されます。収益対市場: 4023の収益 ( 3.6% ) JP市場 ( 5.5% ) よりも低い成長が予測されています。高い収益成長: 4023の収益 ( 3.6% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 4023の 自己資本利益率 は、3年後には低くなると予測されています ( 6.9 %)。成長企業の発掘7D1Y7D1Y7D1YMaterials 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/27 20:59終値2026/05/27 00:00収益2026/03/31年間収益2026/03/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Kureha Corporation 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。6 アナリスト機関Niima KomuraBofA Global ResearchYusuke MiuraDaiwa Securities Co. Ltd.Takashi NishihiraIchiyoshi Research Institute Inc.3 その他のアナリストを表示
Price Target Changed • Apr 21Price target decreased by 17% to JP¥3,533Down from JP¥4,280, the current price target is an average from 3 analysts. New target price is 10% below last closing price of JP¥3,945. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥237 for next year compared to JP¥150 last year.
Price Target Changed • Dec 31Price target increased by 8.4% to JP¥4,093Up from JP¥3,774, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,085. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥150 last year.
Price Target Changed • Aug 29Price target increased by 17% to JP¥3,544Up from JP¥3,036, the current price target is an average from 5 analysts. New target price is 7.5% below last closing price of JP¥3,830. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥231 for next year compared to JP¥150 last year.
Price Target Changed • Mar 19Price target decreased by 8.2% to JP¥2,720Down from JP¥2,963, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,860. Stock is up 3.8% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥173 last year.
Major Estimate Revision • Jan 28Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥165.1b to JP¥161.2b. EPS estimate also fell from JP¥178 per share to JP¥157 per share. Net income forecast to grow 11% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target down from JP¥3,063 to JP¥2,963. Share price was steady at JP¥2,839 over the past week.
お知らせ • Feb 09Kureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.
Reported Earnings • May 13Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: JP¥267 loss per share (down from JP¥150 profit in FY 2025). Revenue: JP¥161.7b (flat on FY 2025). Net loss: JP¥10.7b (down 237% from profit in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
お知らせ • May 12Kureha Corporation, Annual General Meeting, Jun 25, 2026Kureha Corporation, Annual General Meeting, Jun 25, 2026.
Price Target Changed • Apr 21Price target decreased by 17% to JP¥3,533Down from JP¥4,280, the current price target is an average from 3 analysts. New target price is 10% below last closing price of JP¥3,945. Stock is up 60% over the past year. The company is forecast to post earnings per share of JP¥237 for next year compared to JP¥150 last year.
Buy Or Sell Opportunity • Mar 24Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 7.3% to JP¥4,320. The fair value is estimated to be JP¥3,529, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last 3 years. Earnings per share has declined by 19%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 7.2% per annum over the same time period.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥110 per shareEligible shareholders must have bought the stock before 30 March 2026. Payment date: 03 June 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%).
お知らせ • Mar 09Kureha Corporation to Report Fiscal Year 2026 Results on May 12, 2026Kureha Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 12, 2026
Reported Earnings • Feb 10Third quarter 2026 earnings released: EPS: JP¥102 (vs JP¥47.71 in 3Q 2025)Third quarter 2026 results: EPS: JP¥102 (up from JP¥47.71 in 3Q 2025). Revenue: JP¥40.4b (flat on 3Q 2025). Net income: JP¥3.92b (up 60% from 3Q 2025). Profit margin: 9.7% (up from 6.1% in 3Q 2025). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings.
分析記事 • Feb 05Kureha's (TSE:4023) Dividend Will Be ¥109.50Kureha Corporation's ( TSE:4023 ) investors are due to receive a payment of ¥109.50 per share on 3rd of June. This...
分析記事 • Jan 07Kureha's (TSE:4023) Returns Have Hit A WallIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Price Target Changed • Dec 31Price target increased by 8.4% to JP¥4,093Up from JP¥3,774, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,085. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥150 last year.
分析記事 • Dec 11Kureha (TSE:4023) Will Pay A Dividend Of ¥109.50The board of Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend on the 3rd of June, with...
Declared Dividend • Dec 11First half dividend of JP¥110 announcedShareholders will receive a dividend of JP¥110. Ex-date: 30th March 2026 Payment date: 3rd June 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but 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 20% 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 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Dec 01Kureha Corporation to Report Q3, 2026 Results on Feb 09, 2026Kureha Corporation announced that they will report Q3, 2026 results at 3:30 PM, Tokyo Standard Time on Feb 09, 2026
Reported Earnings • Nov 13Second quarter 2026 earnings released: EPS: JP¥111 (vs JP¥52.58 in 2Q 2025)Second quarter 2026 results: EPS: JP¥111 (up from JP¥52.58 in 2Q 2025). Revenue: JP¥40.8b (up 2.9% from 2Q 2025). Net income: JP¥4.26b (up 53% from 2Q 2025). Profit margin: 10% (up from 7.0% in 2Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Upcoming Dividend • Sep 22Upcoming dividend of JP¥110 per shareEligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.6%).
分析記事 • Sep 03Kureha's (TSE:4023) Upcoming Dividend Will Be Larger Than Last Year'sKureha Corporation ( TSE:4023 ) will increase its dividend from last year's comparable payment on the 3rd of December...
お知らせ • Sep 03Kureha Corporation to Report Q2, 2026 Results on Nov 11, 2025Kureha Corporation announced that they will report Q2, 2026 results at 3:30 PM, Tokyo Standard Time on Nov 11, 2025
Price Target Changed • Aug 29Price target increased by 17% to JP¥3,544Up from JP¥3,036, the current price target is an average from 5 analysts. New target price is 7.5% below last closing price of JP¥3,830. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥231 for next year compared to JP¥150 last year.
分析記事 • Aug 29Investors Could Be Concerned With Kureha's (TSE:4023) Returns On CapitalIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a...
分析記事 • Aug 13Kureha (TSE:4023) Will Pay A Larger Dividend Than Last Year At ¥108.00The board of Kureha Corporation ( TSE:4023 ) has announced that it will be increasing its dividend by 149% on the 3rd...
Reported Earnings • Aug 09First quarter 2026 earnings released: EPS: JP¥45.34 (vs JP¥52.73 in 1Q 2025)First quarter 2026 results: EPS: JP¥45.34 (down from JP¥52.73 in 1Q 2025). Revenue: JP¥36.5b (down 13% from 1Q 2025). Net income: JP¥2.06b (down 28% from 1Q 2025). Profit margin: 5.6% (down from 6.8% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. 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 1% per year, which means it has not declined as severely as earnings.
分析記事 • Jul 23Kureha (TSE:4023) Is Paying Out A Larger Dividend Than Last YearKureha Corporation ( TSE:4023 ) has announced that it will be increasing its periodic dividend on the 3rd of December...
分析記事 • Jul 09Kureha (TSE:4023) Is Increasing Its Dividend To ¥108.00Kureha Corporation ( TSE:4023 ) will increase its dividend on the 3rd of December to ¥108.00, which is 149% higher than...
Declared Dividend • Jul 09Final dividend increased to JP¥108Dividend of JP¥108 is 149% higher than last year. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but 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 9.0% 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 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Jul 01Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥150 (down from JP¥173 in FY 2024). Revenue: JP¥162.0b (down 9.0% from FY 2024). Net income: JP¥7.80b (down 20% from FY 2024). Profit margin: 4.8% (down from 5.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.0%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% 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.
お知らせ • Jun 09Kureha Corporation to Report Q1, 2026 Results on Aug 08, 2025Kureha Corporation announced that they will report Q1, 2026 results at 3:30 PM, Tokyo Standard Time on Aug 08, 2025
New Risk • Jun 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.3% average weekly change).
お知らせ • Jun 03Kureha Corporation (TSE:4023) announces an Equity Buyback for 10,000,000 shares, representing 20.66% for ¥35,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 10,000,000 shares, representing 20.66% of the outstanding shares for ¥35,000 million. The purpose of the program is enhancement of shareholder returns, further improvements in capital efficiency, and a flexible capital policy that is responsive to the business environment. The program will run until September 30, 2025. As of May 31, 2025, the company had 48,411,662 shares outstanding (excluding treasury stock) and 7,021,559 shares in treasury.
分析記事 • May 20Kureha Corporation's (TSE:4023) P/E Is Still On The Mark Following 36% Share Price BounceKureha Corporation ( TSE:4023 ) shares have had a really impressive month, gaining 36% after a shaky period beforehand...
Buy Or Sell Opportunity • May 20Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 20% to JP¥3,355. The fair value is estimated to be JP¥2,779, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are also forecast to grow by 13% per annum over the same time period.
お知らせ • May 13Kureha Corporation (TSE:4023) announces an Equity Buyback for 5,600,000 shares, representing 11.26% for ¥15,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 5,600,000 shares, representing 11.26% of the outstanding shares for ¥15,000 million. The purpose of the program is to strengthen shareholder return policies and improve capital efficiency. The program will run until March 31, 2026. As of March 31, 2025, the company had 49,742,195 shares outstanding (excluding treasury stock) and 5,691,026 shares in treasury.
Reported Earnings • May 13Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: JP¥150 (down from JP¥173 in FY 2024). Revenue: JP¥162.0b (down 9.0% from FY 2024). Net income: JP¥7.80b (down 20% from FY 2024). Profit margin: 4.8% (down from 5.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% 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.
分析記事 • May 12Are Investors Undervaluing Kureha Corporation (TSE:4023) By 47%?Key Insights Kureha's estimated fair value is JP¥5,116 based on 2 Stage Free Cash Flow to Equity Current share price of...
お知らせ • May 12+ 2 more updatesKureha Corporation, Annual General Meeting, Jun 26, 2025Kureha Corporation, Annual General Meeting, Jun 26, 2025.
お知らせ • Apr 25Kureha Corporation Announces Dividend for Year End March 31, 2025, Payable on June 3, 2025Kureha Corporation announced Dividend for Year End March 31, 2025, Payable on June 3, 2025. For the period, the company reported dividend of JPY 43.35 per share against JPY 43.34 per share from a year ago. Total dividend payout JPY 2,156 million yen.
Upcoming Dividend • Mar 21Upcoming dividend of JP¥43.35 per shareEligible shareholders must have bought the stock before 28 March 2025. Payment date: 04 June 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%).
Price Target Changed • Mar 19Price target decreased by 8.2% to JP¥2,720Down from JP¥2,963, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,860. Stock is up 3.8% over the past year. The company is forecast to post earnings per share of JP¥147 for next year compared to JP¥173 last year.
分析記事 • Mar 04Kureha's (TSE:4023) Dividend Will Be ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...
お知らせ • Mar 03Kureha Corporation to Report Fiscal Year 2025 Results on May 12, 2025Kureha Corporation announced that they will report fiscal year 2025 results at 3:30 PM, Tokyo Standard Time on May 12, 2025
分析記事 • Feb 17Kureha's (TSE:4023) Conservative Accounting Might Explain Soft EarningsSoft earnings didn't appear to concern Kureha Corporation's ( TSE:4023 ) shareholders over the last week. We did some...
Reported Earnings • Feb 11Third quarter 2025 earnings released: EPS: JP¥47.71 (vs JP¥62.31 in 3Q 2024)Third quarter 2025 results: EPS: JP¥47.71 (down from JP¥62.31 in 3Q 2024). Revenue: JP¥40.4b (down 9.0% from 3Q 2024). Net income: JP¥2.45b (down 29% from 3Q 2024). Profit margin: 6.1% (down from 7.8% in 3Q 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% 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.
分析記事 • Feb 03Returns On Capital Signal Tricky Times Ahead For Kureha (TSE:4023)What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Major Estimate Revision • Jan 28Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥165.1b to JP¥161.2b. EPS estimate also fell from JP¥178 per share to JP¥157 per share. Net income forecast to grow 11% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target down from JP¥3,063 to JP¥2,963. Share price was steady at JP¥2,839 over the past week.
分析記事 • Dec 23Kureha (TSE:4023) Will Pay A Dividend Of ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...
分析記事 • Dec 04Kureha (TSE:4023) Has Announced A Dividend Of ¥43.35Kureha Corporation ( TSE:4023 ) has announced that it will pay a dividend of ¥43.35 per share on the 4th of June. This...
Declared Dividend • Dec 04First half dividend increased to JP¥43.35Dividend of JP¥43.35 is 0.02% higher than last year. Ex-date: 28th March 2025 Payment date: 4th June 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but 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 10% 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 89% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Dec 03Kureha Corporation to Report Q3, 2025 Results on Feb 10, 2025Kureha Corporation announced that they will report Q3, 2025 results at 3:30 PM, Tokyo Standard Time on Feb 10, 2025
Reported Earnings • Nov 13Second quarter 2025 earnings released: EPS: JP¥52.58 (vs JP¥62.76 in 2Q 2024)Second quarter 2025 results: EPS: JP¥52.58 (down from JP¥62.76 in 2Q 2024). Revenue: JP¥39.7b (down 11% from 2Q 2024). Net income: JP¥2.78b (down 22% from 2Q 2024). Profit margin: 7.0% (down from 8.0% in 2Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% 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.
Upcoming Dividend • Sep 20Upcoming dividend of JP¥43.35 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%).
お知らせ • Sep 02Kureha Corporation to Report Q2, 2025 Results on Nov 11, 2024Kureha Corporation announced that they will report Q2, 2025 results on Nov 11, 2024
分析記事 • Aug 06Investors Could Be Concerned With Kureha's (TSE:4023) Returns On CapitalIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Declared Dividend • Jul 11Final dividend of JP¥43.35 announcedShareholders will receive a dividend of JP¥43.35. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but 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 10% 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 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
分析記事 • Jul 03There May Be Some Bright Spots In Kureha's (TSE:4023) EarningsSoft earnings didn't appear to concern Kureha Corporation's ( TSE:4023 ) shareholders over the last week. We think that...
Board Change • Jun 27Less than half of directors are independentThere are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). CEO, President & Director Yutaka Kobayashi is the most experienced director on the board, commencing their role in 2009. Independent Outside Audit & Supervisory Board Member Katsuo Okuno was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
お知らせ • Jun 14Kureha Corporation to Report Q1, 2025 Results on Aug 08, 2024Kureha Corporation announced that they will report Q1, 2025 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2024
お知らせ • May 15Kureha Corporation, Annual General Meeting, Jun 26, 2024Kureha Corporation, Annual General Meeting, Jun 26, 2024.
お知らせ • May 14Kureha Corporation (TSE:4023) announces an Equity Buyback for 5,600,000 shares, representing 10.18% for ¥15,000 million.Kureha Corporation (TSE:4023) announces a share repurchase program. Under the program, the company will repurchase 5,600,000 shares, representing 10.18% of the outstanding shares for ¥15,000 million. The purpose of the program is to strengthen shareholder returns and enhance capital efficiency. The program will run until March 31, 2025. As of March 31, 2024, the company had 55,032,323 shares outstanding (excluding treasury stock) and 3,543,898 shares in treasury
お知らせ • Mar 27Kureha Changshu Fluoropolymer Co., Ltd. Discontinues PVDF Facility Expansion in China, Withdraws from Heat Shrink Multilayer Film BusinessKureha Corporation announced its decision to discontinue a capacity expansion project for polyvinylidene fluoride (PVDF) at its wholly-owned subsidiary, Kureha Changshu Fluoropolymer Co. Ltd. in China. The expansion project was originally made public on July 20, 2021. In addition, Kureha announced it will withdraw from the heat shrink multilayer film business, a part of its food packaging line which the company operates primarily in Europe and Australia. Details are as follows. Kureha PVDF is used as a binder material for lithium-ion secondary batteries (LiBs) and also as an engineering plastic in various industrial applications. In July 2021, Kureha announced its plan to address growing demand for PVDF binder in the automotive LiB market, propelled by robust electric vehicle sales amid heightened environmental awareness, and expand PVDF production at the China Changshu facility. However, this capacity expansion project has been delayed due to changes in China's environment policy, and Furthermore, the business environment surrounding LiBs has changed following the enactment of the U.S. Inflation Reduction Act. Under these circumstances, Kureha decided in August 2023 to move ahead with the capacity expansion for PVDF at its Japan Iwaki Factory. The company now expect this enhanced capacity in Japan will be sufficient to meet the immediate increase in demand. Given this outlook and foreseeable difficulties in China-to-US exports under the new U.S. law, Kureha has therefore determined to discontinue the facility expansion in China. Meanwhile, Kureha will continue PVDF manufacturing operations at the China Changshu facilities for customers mainly in China and Europe. The company is also working to develop differentiated binder grades suitable for iron phosphate (LFP) LiBs, a major type of LiB used in China, and is planning over a medium to long term to expand share in the China market, suggesting that there are possibilities for reinvestment in the country if business conditions change. Kureha will continue to closely monitor market trends, maintain optimal production operations, and steadily expand the PVDF business. Details of the China facility expansion to be discontinued. Facility location: Changshu, Jiangsu Province, PRC (within the Advanced Materials Industrial Park) Assets: Equipment and buildings. Capital investment: JPY 18 billion - JPY 20 billion. Withdrawal from the heat shrink multilayer film business: Kureha has developed and operated the business of heat shrink multilayer film for food packaging mainly in Europe. For past years the company has worked to improve profitability by shifting to high- performance products and striving to reduce fixed costs, however, the company find it increasingly difficult to differentiate the company's products that do not use raw materials produced in-house, while facing cost pressures amid the European inflation. Kureha has now determined the business continuation was unfeasible and started proceedings to withdraw from the business. The Kureha Group has continually optimized its product portfolio in the food packaging businesses over the years, including withdrawing from the deep-draw film business in 2018 and divesting the blow bottle business in 2019 and a joint venture to manufacture polyvinylidene chloride (PVDC) in China in 2022. Going forward, the company aim to improve capital efficiency by focusing on the PVDC films business using in-house raw materials, allocate resources more effectively, and restructure the food packaging business that will increase corporate value. Details of the business withdrawal: Key products: Heat shrink multilayer film products for food packaging; Market areas: Europe, Australia, Japan; Kureha subsidiaries to be dissolved: KREHALON B.V., KREHALON AUSTRALIA PTY. LTD., etc.
Upcoming Dividend • Mar 21Upcoming dividend of JP¥43.34 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%).
お知らせ • Mar 02Kureha Corporation to Report Fiscal Year 2024 Results on May 13, 2024Kureha Corporation announced that they will report fiscal year 2024 results at 3:00 PM, Tokyo Standard Time on May 13, 2024
Buy Or Sell Opportunity • Feb 14Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.0% to JP¥2,678. The fair value is estimated to be JP¥3,358, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 4.6%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 49% in the next 2 years.
お知らせ • Feb 09Kureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.
Reported Earnings • Feb 09Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: JP¥44.4b (down 6.1% from 3Q 2023). Net income: JP¥3.44b (down 37% from 3Q 2023). Profit margin: 7.8% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Chemicals 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 5% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Jan 29Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥184.5b to JP¥178.4b. EPS estimate also fell from JP¥252 per share to JP¥198 per share. Net income forecast to grow 18% next year vs 13% growth forecast for Chemicals industry in Japan. Consensus price target broadly unchanged at JP¥3,122. Share price was steady at JP¥2,865 over the past week.
お知らせ • Dec 09Kureha Corporation to Report Q3, 2024 Results on Feb 07, 2024Kureha Corporation announced that they will report Q3, 2024 results at 3:00 PM, Tokyo Standard Time on Feb 07, 2024
お知らせ • Nov 11+ 2 more updatesKureha Corporation Provides Dividend Guidance for the Year Ending March 31, 2024Kureha Corporation provided dividend guidance for the year ending March 31, 2024. For the period, the company expects to pay dividend of JPY 130.00 per share compared to JPY 145.00 per share a year ago.
Reported Earnings • Nov 10Second quarter 2024 earnings released: EPS: JP¥188 (vs JP¥345 in 2Q 2023)Second quarter 2024 results: EPS: JP¥188 (down from JP¥345 in 2Q 2023). Revenue: JP¥44.7b (down 15% from 2Q 2023). Net income: JP¥3.56b (down 47% from 2Q 2023). Profit margin: 8.0% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year.
Valuation Update With 7 Day Price Move • Oct 13Investor sentiment improves as stock rises 15%After last week's 15% share price gain to JP¥9,310, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥14,781 per share.
Upcoming Dividend • Sep 21Upcoming dividend of JP¥130 per share at 3.0% yieldEligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%).
お知らせ • Sep 05Kureha Corporation to Report Q2, 2024 Results on Nov 09, 2023Kureha Corporation announced that they will report Q2, 2024 results at 3:00 PM, Tokyo Standard Time on Nov 09, 2023
New Risk • Aug 16New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 119% Dividend yield: 3.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 09First quarter 2024 earnings released: EPS: JP¥167 (vs JP¥280 in 1Q 2023)First quarter 2024 results: EPS: JP¥167 (down from JP¥280 in 1Q 2023). Revenue: JP¥43.8b (down 11% from 1Q 2023). Net income: JP¥3.24b (down 41% from 1Q 2023). Profit margin: 7.4% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals 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 22% per year.
お知らせ • Jun 02Kureha Corporation to Report Q1, 2024 Results on Aug 08, 2023Kureha Corporation announced that they will report Q1, 2024 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2023
お知らせ • May 19+ 2 more updatesKureha Provides Dividend Guidance for the Full Year Ending March 31, 2024Kureha Corporation provided dividend guidance for the full year ending March 31, 2024. The company expects to pay year end dividend of JPY 130 per share.
Reported Earnings • May 16Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: JP¥864 (up from JP¥726 in FY 2022). Revenue: JP¥191.3b (up 14% from FY 2022). Net income: JP¥16.9b (up 19% from FY 2022). Profit margin: 8.8% (up from 8.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 23% per year.
お知らせ • May 14+ 1 more updateKureha Corporation, Annual General Meeting, Jun 27, 2023Kureha Corporation, Annual General Meeting, Jun 27, 2023.
Upcoming Dividend • Mar 23Upcoming dividend of JP¥125 per share at 3.0% yieldEligible shareholders must have bought the stock before 30 March 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.8%).
Buying Opportunity • Mar 14Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 9.5%. The fair value is estimated to be JP¥10,250, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings is also forecast to grow by 3.7% per annum over the same time period.
Reported Earnings • Feb 08Third quarter 2023 earnings released: EPS: JP¥280 (vs JP¥256 in 3Q 2022)Third quarter 2023 results: EPS: JP¥280 (up from JP¥256 in 3Q 2022). Revenue: JP¥47.2b (up 7.2% from 3Q 2022). Net income: JP¥5.47b (up 9.5% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year.
お知らせ • Feb 07+ 1 more updateKureha Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023Kureha Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2023. For the period, the company expected revenue of JPY 190,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 20,000 million and basic profit per share of JPY 1,024.72.
Buying Opportunity • Jan 16Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be JP¥10,064, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings is also forecast to grow by 5.1% per annum over the same time period.
お知らせ • Dec 02Kureha Corporation to Report Q3, 2023 Results on Feb 07, 2023Kureha Corporation announced that they will report Q3, 2023 results at 3:00 PM, Tokyo Standard Time on Feb 07, 2023
Reported Earnings • Nov 18Second quarter 2023 earnings released: EPS: JP¥345 (vs JP¥257 in 2Q 2022)Second quarter 2023 results: EPS: JP¥345 (up from JP¥257 in 2Q 2022). Revenue: JP¥52.5b (up 27% from 2Q 2022). Net income: JP¥6.73b (up 34% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Nov 16Less than half of directors are independentFollowing 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. Independent Outside Director Osaumu Iida was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 11Second quarter 2023 earnings released: EPS: JP¥625 (vs JP¥257 in 2Q 2022)Second quarter 2023 results: EPS: JP¥625 (up from JP¥257 in 2Q 2022). Revenue: JP¥101.8b (up 147% from 2Q 2022). Net income: JP¥12.2b (up 143% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals 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.
Upcoming Dividend • Sep 22Upcoming dividend of JP¥125 per shareEligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.9%).
Reported Earnings • Aug 11First quarter 2023 earnings released: EPS: JP¥280 (vs JP¥169 in 1Q 2022)First quarter 2023 results: EPS: JP¥280 (up from JP¥169 in 1Q 2022). Revenue: JP¥49.3b (up 30% from 1Q 2022). Net income: JP¥5.46b (up 65% from 1Q 2022). Profit margin: 11% (up from 8.7% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.2%, compared to a 9.2% growth forecast for the industry in Japan. 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 20% per year, which means it is well ahead of earnings.
Board Change • Jul 14Less than half of directors are independentFollowing 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. Independent Outside Director Osaumu Iida was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • May 24Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥974 to JP¥794. Revenue forecast unchanged from JP¥182.0b at last update. Net income forecast to grow 24% next year vs 4.3% growth forecast for Chemicals industry in Japan. Consensus price target broadly unchanged at JP¥11,288. Share price was steady at JP¥9,640 over the past week.
Reported Earnings • May 16Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: JP¥726 (up from JP¥691 in FY 2021). Revenue: JP¥168.3b (up 16% from FY 2021). Net income: JP¥14.2b (up 5.0% from FY 2021). Profit margin: 8.4% (down from 9.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 8.1%, compared to a 7.9% growth forecast for the industry in Japan. 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 12% per year, which means it is well ahead of earnings.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Outside Director Osamu Tosaka was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.