View Future GrowthThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsNissin 과거 순이익 실적과거 기준 점검 2/6Nissin은 연평균 28.1%의 비율로 수입이 증가해 온 반면, Infrastructure 산업은 수입이 24.4% 증가했습니다. 매출은 연평균 2.1%의 비율로 증가했습니다. Nissin의 자기자본이익률은 7.4%이고 순이익률은 3.3%입니다.핵심 정보28.13%순이익 성장률32.17%주당순이익(EPS) 성장률Infrastructure 산업 성장률6.15%매출 성장률2.10%자기자본이익률7.42%순이익률3.27%최근 순이익 업데이트30 Jun 2025최근 과거 실적 업데이트공고 • Jun 18Nissin Corporation to Report Q1, 2026 Results on Aug 08, 2025Nissin Corporation announced that they will report Q1, 2026 results on Aug 08, 2025공고 • Mar 06Nissin Corporation to Report Fiscal Year 2025 Results on May 12, 2025Nissin Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 12, 2025공고 • Dec 04Nissin Corporation to Report Q3, 2025 Results on Feb 10, 2025Nissin Corporation announced that they will report Q3, 2025 results on Feb 10, 2025Reported Earnings • Nov 15Second quarter 2025 earnings released: EPS: JP¥114 (vs JP¥96.80 in 2Q 2024)Second quarter 2025 results: EPS: JP¥114. Revenue: JP¥46.3b (up 12% from 2Q 2024). Net income: JP¥1.66b (down 11% from 2Q 2024). Profit margin: 3.6% (down from 4.5% in 2Q 2024).공고 • Sep 20Nissin Corporation to Report Q2, 2025 Results on Nov 12, 2024Nissin Corporation announced that they will report Q2, 2025 results on Nov 12, 2024공고 • Jun 26Nissin Corporation to Report Q1, 2025 Results on Aug 08, 2024Nissin Corporation announced that they will report Q1, 2025 results on Aug 08, 2024모든 업데이트 보기Recent updates공고 • Sep 18Nissin Corporation to Delist from Prime Section of the Tokyo Stock Exchange, Effective October 15, 2025Nissin Corporation will be delisted from Prime Section of the Tokyo Stock Exchange effective from October 15, 2025, due to reverse stock split.공고 • Jul 15Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion.Bain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion on May 12, 2025. A cash consideration of ¥112.19 billion valued at ¥8100 per share will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥112.19 billion is paid towards common equity of Nissin Corporation. The deal is to be financed through equity invesmtent of ¥18.7 million and senior debt of ¥94.3 million. The transaction is subject to minimum tender. The expected completion of the transaction is July 8, 2025. As of May 26, 2025, the Offeror received from the German Federal Cartel Office, a notice to the effect that the acquisition of the Target Shares does not meet the criteria for prohibition and is permitted, meaning that the acquisition of the Target Shares was approved as of the same date. On June 11, 2025, the Austrian Federal Competition Authority has approved the transaction. As of June 30, 2025, the offeror has decided to extend the Tender Offer Period to July 14, 2025, which is 10 business days after June 30, 2025. Daiwa Securities Co., Ltd. acted as tender offer agent for Bain Capital Private Equity, LP. Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion on July 14, 2025.공고 • Jun 18Nissin Corporation to Report Q1, 2026 Results on Aug 08, 2025Nissin Corporation announced that they will report Q1, 2026 results on Aug 08, 2025공고 • May 13Nissin Corporation, Annual General Meeting, Jun 25, 2025Nissin Corporation, Annual General Meeting, Jun 25, 2025.공고 • May 12+ 1 more updateBain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion.Bain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion on May 12, 2025. A cash consideration of ¥112.19 billion valued at ¥8100 per share will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥112.19 billion is paid towards common equity of Nissin Corporation. The transaction is subject to minimum tender. The expected completion of the transaction is July 8, 2025.공고 • Mar 06Nissin Corporation to Report Fiscal Year 2025 Results on May 12, 2025Nissin Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 12, 2025공고 • Dec 04Nissin Corporation to Report Q3, 2025 Results on Feb 10, 2025Nissin Corporation announced that they will report Q3, 2025 results on Feb 10, 2025Reported Earnings • Nov 15Second quarter 2025 earnings released: EPS: JP¥114 (vs JP¥96.80 in 2Q 2024)Second quarter 2025 results: EPS: JP¥114. Revenue: JP¥46.3b (up 12% from 2Q 2024). Net income: JP¥1.66b (down 11% from 2Q 2024). Profit margin: 3.6% (down from 4.5% in 2Q 2024).Upcoming Dividend • Sep 20Upcoming dividend of JP¥100.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.6%).공고 • Sep 20Nissin Corporation to Report Q2, 2025 Results on Nov 12, 2024Nissin Corporation announced that they will report Q2, 2025 results on Nov 12, 2024Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €22.00, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 14x in the Infrastructure industry in Europe. Total returns to shareholders of 44% over the past year.공고 • Jun 26Nissin Corporation to Report Q1, 2025 Results on Aug 08, 2024Nissin Corporation announced that they will report Q1, 2025 results on Aug 08, 2024Valuation Update With 7 Day Price Move • May 16Investor sentiment improves as stock rises 46%After last week's 46% share price gain to €25.80, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 15x in the Infrastructure industry in Europe. Total returns to shareholders of 80% over the past year.Buy Or Sell Opportunity • May 15Now 62% overvalued after recent price riseOver the last 90 days, the stock has risen 51% to €26.00. The fair value is estimated to be €16.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 30%.공고 • May 11+ 1 more updateNissin Corporation, Annual General Meeting, Jun 26, 2024Nissin Corporation, Annual General Meeting, Jun 26, 2024.공고 • Mar 27Nissin Corporation to Report Fiscal Year 2024 Results on May 09, 2024Nissin Corporation announced that they will report fiscal year 2024 results on May 09, 2024Upcoming Dividend • Mar 21Upcoming dividend of JP¥60.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (3.7%).Reported Earnings • Feb 11Third quarter 2024 earnings released: EPS: JP¥93.31 (vs JP¥121 in 3Q 2023)Third quarter 2024 results: EPS: JP¥93.31 (down from JP¥121 in 3Q 2023). Revenue: JP¥41.5b (down 7.7% from 3Q 2023). Net income: JP¥1.78b (down 24% from 3Q 2023). Profit margin: 4.3% (down from 5.2% in 3Q 2023). The decrease in margin was driven by lower revenue.공고 • Dec 22Nissin Corporation to Report Q3, 2024 Results on Feb 08, 2024Nissin Corporation announced that they will report Q3, 2024 results on Feb 08, 2024Reported Earnings • Nov 10Second quarter 2024 earnings released: EPS: JP¥96.80 (vs JP¥167 in 2Q 2023)Second quarter 2024 results: EPS: JP¥96.80 (down from JP¥167 in 2Q 2023). Revenue: JP¥41.3b (down 23% from 2Q 2023). Net income: JP¥1.87b (down 43% from 2Q 2023). Profit margin: 4.5% (down from 6.0% in 2Q 2023). The decrease in margin was driven by lower revenue.공고 • Sep 22Nissin Corporation to Report Q2, 2024 Results on Nov 09, 2023Nissin Corporation announced that they will report Q2, 2024 results on Nov 09, 2023Reported Earnings • Aug 08First quarter 2024 earnings released: EPS: JP¥91.34 (vs JP¥134 in 1Q 2023)First quarter 2024 results: EPS: JP¥91.34 (down from JP¥134 in 1Q 2023). Revenue: JP¥41.1b (down 24% from 1Q 2023). Net income: JP¥1.78b (down 32% from 1Q 2023). Profit margin: 4.3% (down from 4.8% in 1Q 2023). The decrease in margin was driven by lower revenue.공고 • Jun 23Nissin Corporation to Report Q1, 2024 Results on Aug 07, 2023Nissin Corporation announced that they will report Q1, 2024 results on Aug 07, 2023Board Change • May 15Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Outside Director Susumu Fujimoto was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.매출 및 비용 세부 내역Nissin가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이DB:8P1 매출, 비용 및 순이익 (JPY Millions)날짜매출순이익일반관리비연구개발비30 Jun 25191,4886,26914,874031 Mar 25190,80610,85415,087031 Dec 24193,73113,05215,817030 Sep 24181,02712,75115,213030 Jun 24175,98312,95714,993031 Mar 24169,9348,64914,162031 Dec 23165,5117,74113,620030 Sep 23168,9678,31713,268030 Jun 23181,5169,70113,156031 Mar 23194,16510,52813,046031 Dec 22208,30910,21212,926030 Sep 22214,3259,85312,637030 Jun 22204,1127,59412,417031 Mar 22192,6996,36512,063031 Dec 21183,9215,39315,274030 Sep 21172,6634,52618,487030 Jun 21163,8273,60421,461031 Mar 21155,9152,00724,598031 Dec 20150,2851,30924,239030 Sep 20163,1621,09525,179030 Jun 20180,5451,80026,000031 Mar 20197,3872,70526,896031 Dec 19208,0123,47727,363030 Sep 19211,9843,67827,706030 Jun 19215,3903,84328,040031 Mar 19218,0404,42628,197031 Dec 18219,7804,42828,640030 Sep 18218,6534,19028,330030 Jun 18218,4684,48028,102031 Mar 18216,9245,21027,610031 Dec 17217,9635,57727,847030 Sep 17212,2005,88327,024030 Jun 17205,1995,52726,362031 Mar 17201,2094,45726,144031 Dec 16194,9233,26525,072030 Sep 16194,8983,03925,146030 Jun 16199,5793,16125,810031 Mar 16201,7053,19625,974031 Dec 15205,2813,49826,864030 Sep 15207,9393,56627,221030 Jun 15206,3343,11726,904031 Mar 15204,4612,44726,699031 Dec 14204,8932,37926,5300양질의 수익: 8P1는 고품질 수익을 보유하고 있습니다.이익 마진 증가: 8P1의 현재 순 이익률 (3.3%)은 지난해 (7.4%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 8P1의 수익은 지난 5년 동안 연평균 28.1%로 크게 증가했습니다.성장 가속화: 8P1은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: 8P1은 지난 1년 동안 수익이 감소(-51.6%)하여 Infrastructure 업계 평균(-2.1%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: 8P1의 자본 수익률(7.4%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YTransportation 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2025/10/17 15:37종가2025/10/14 00:00수익2025/06/30연간 수익2025/03/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Nissin Corporation는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Yumiko KaiIchiyoshi Research Institute Inc.
공고 • Jun 18Nissin Corporation to Report Q1, 2026 Results on Aug 08, 2025Nissin Corporation announced that they will report Q1, 2026 results on Aug 08, 2025
공고 • Mar 06Nissin Corporation to Report Fiscal Year 2025 Results on May 12, 2025Nissin Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 12, 2025
공고 • Dec 04Nissin Corporation to Report Q3, 2025 Results on Feb 10, 2025Nissin Corporation announced that they will report Q3, 2025 results on Feb 10, 2025
Reported Earnings • Nov 15Second quarter 2025 earnings released: EPS: JP¥114 (vs JP¥96.80 in 2Q 2024)Second quarter 2025 results: EPS: JP¥114. Revenue: JP¥46.3b (up 12% from 2Q 2024). Net income: JP¥1.66b (down 11% from 2Q 2024). Profit margin: 3.6% (down from 4.5% in 2Q 2024).
공고 • Sep 20Nissin Corporation to Report Q2, 2025 Results on Nov 12, 2024Nissin Corporation announced that they will report Q2, 2025 results on Nov 12, 2024
공고 • Jun 26Nissin Corporation to Report Q1, 2025 Results on Aug 08, 2024Nissin Corporation announced that they will report Q1, 2025 results on Aug 08, 2024
공고 • Sep 18Nissin Corporation to Delist from Prime Section of the Tokyo Stock Exchange, Effective October 15, 2025Nissin Corporation will be delisted from Prime Section of the Tokyo Stock Exchange effective from October 15, 2025, due to reverse stock split.
공고 • Jul 15Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion.Bain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion on May 12, 2025. A cash consideration of ¥112.19 billion valued at ¥8100 per share will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥112.19 billion is paid towards common equity of Nissin Corporation. The deal is to be financed through equity invesmtent of ¥18.7 million and senior debt of ¥94.3 million. The transaction is subject to minimum tender. The expected completion of the transaction is July 8, 2025. As of May 26, 2025, the Offeror received from the German Federal Cartel Office, a notice to the effect that the acquisition of the Target Shares does not meet the criteria for prohibition and is permitted, meaning that the acquisition of the Target Shares was approved as of the same date. On June 11, 2025, the Austrian Federal Competition Authority has approved the transaction. As of June 30, 2025, the offeror has decided to extend the Tender Offer Period to July 14, 2025, which is 10 business days after June 30, 2025. Daiwa Securities Co., Ltd. acted as tender offer agent for Bain Capital Private Equity, LP. Bain Capital Private Equity, LP completed the acquisition of 74.98% stake in Nissin Corporation (TSE:9066) from a group of shareholders for ¥89.5 billion on July 14, 2025.
공고 • Jun 18Nissin Corporation to Report Q1, 2026 Results on Aug 08, 2025Nissin Corporation announced that they will report Q1, 2026 results on Aug 08, 2025
공고 • May 13Nissin Corporation, Annual General Meeting, Jun 25, 2025Nissin Corporation, Annual General Meeting, Jun 25, 2025.
공고 • May 12+ 1 more updateBain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion.Bain Capital Private Equity, LP proposed to acquire 93.96% stake in Nissin Corporation (TSE:9066) from a group of shareholders for approximately ¥110 billion on May 12, 2025. A cash consideration of ¥112.19 billion valued at ¥8100 per share will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥112.19 billion is paid towards common equity of Nissin Corporation. The transaction is subject to minimum tender. The expected completion of the transaction is July 8, 2025.
공고 • Mar 06Nissin Corporation to Report Fiscal Year 2025 Results on May 12, 2025Nissin Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 12, 2025
공고 • Dec 04Nissin Corporation to Report Q3, 2025 Results on Feb 10, 2025Nissin Corporation announced that they will report Q3, 2025 results on Feb 10, 2025
Reported Earnings • Nov 15Second quarter 2025 earnings released: EPS: JP¥114 (vs JP¥96.80 in 2Q 2024)Second quarter 2025 results: EPS: JP¥114. Revenue: JP¥46.3b (up 12% from 2Q 2024). Net income: JP¥1.66b (down 11% from 2Q 2024). Profit margin: 3.6% (down from 4.5% in 2Q 2024).
Upcoming Dividend • Sep 20Upcoming dividend of JP¥100.00 per shareEligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.6%).
공고 • Sep 20Nissin Corporation to Report Q2, 2025 Results on Nov 12, 2024Nissin Corporation announced that they will report Q2, 2025 results on Nov 12, 2024
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €22.00, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 14x in the Infrastructure industry in Europe. Total returns to shareholders of 44% over the past year.
공고 • Jun 26Nissin Corporation to Report Q1, 2025 Results on Aug 08, 2024Nissin Corporation announced that they will report Q1, 2025 results on Aug 08, 2024
Valuation Update With 7 Day Price Move • May 16Investor sentiment improves as stock rises 46%After last week's 46% share price gain to €25.80, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 15x in the Infrastructure industry in Europe. Total returns to shareholders of 80% over the past year.
Buy Or Sell Opportunity • May 15Now 62% overvalued after recent price riseOver the last 90 days, the stock has risen 51% to €26.00. The fair value is estimated to be €16.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 30%.
공고 • May 11+ 1 more updateNissin Corporation, Annual General Meeting, Jun 26, 2024Nissin Corporation, Annual General Meeting, Jun 26, 2024.
공고 • Mar 27Nissin Corporation to Report Fiscal Year 2024 Results on May 09, 2024Nissin Corporation announced that they will report fiscal year 2024 results on May 09, 2024
Upcoming Dividend • Mar 21Upcoming dividend of JP¥60.00 per shareEligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (3.7%).
Reported Earnings • Feb 11Third quarter 2024 earnings released: EPS: JP¥93.31 (vs JP¥121 in 3Q 2023)Third quarter 2024 results: EPS: JP¥93.31 (down from JP¥121 in 3Q 2023). Revenue: JP¥41.5b (down 7.7% from 3Q 2023). Net income: JP¥1.78b (down 24% from 3Q 2023). Profit margin: 4.3% (down from 5.2% in 3Q 2023). The decrease in margin was driven by lower revenue.
공고 • Dec 22Nissin Corporation to Report Q3, 2024 Results on Feb 08, 2024Nissin Corporation announced that they will report Q3, 2024 results on Feb 08, 2024
Reported Earnings • Nov 10Second quarter 2024 earnings released: EPS: JP¥96.80 (vs JP¥167 in 2Q 2023)Second quarter 2024 results: EPS: JP¥96.80 (down from JP¥167 in 2Q 2023). Revenue: JP¥41.3b (down 23% from 2Q 2023). Net income: JP¥1.87b (down 43% from 2Q 2023). Profit margin: 4.5% (down from 6.0% in 2Q 2023). The decrease in margin was driven by lower revenue.
공고 • Sep 22Nissin Corporation to Report Q2, 2024 Results on Nov 09, 2023Nissin Corporation announced that they will report Q2, 2024 results on Nov 09, 2023
Reported Earnings • Aug 08First quarter 2024 earnings released: EPS: JP¥91.34 (vs JP¥134 in 1Q 2023)First quarter 2024 results: EPS: JP¥91.34 (down from JP¥134 in 1Q 2023). Revenue: JP¥41.1b (down 24% from 1Q 2023). Net income: JP¥1.78b (down 32% from 1Q 2023). Profit margin: 4.3% (down from 4.8% in 1Q 2023). The decrease in margin was driven by lower revenue.
공고 • Jun 23Nissin Corporation to Report Q1, 2024 Results on Aug 07, 2023Nissin Corporation announced that they will report Q1, 2024 results on Aug 07, 2023
Board Change • May 15Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Outside Director Susumu Fujimoto was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.