View Future GrowthMERF 과거 순이익 실적과거 기준 점검 3/6MERF의 수입은 연평균 -25.6%의 비율로 감소해 온 반면, Metals and Mining 산업은 수입이 연평균 4.1% 증가했습니다. 매출은 연평균 5.8%의 비율로 증가해 왔습니다. MERF의 자기자본이익률은 14.6%이고 순이익률은 1.9%입니다.핵심 정보-25.62%순이익 성장률-25.51%주당순이익(EPS) 성장률Metals and Mining 산업 성장률18.55%매출 성장률5.85%자기자본이익률14.65%순이익률1.95%다음 순이익 업데이트13 Jul 2026최근 과거 실적 업데이트분석 기사 • Apr 20We Think You Should Be Aware Of Some Concerning Factors In MERF's (TSE:3168) EarningsThe stock price didn't jump after MERF Inc. ( TSE:3168 ) posted decent earnings last week. We did some digging and...공시 • Apr 03MERF Inc. to Report Q2, 2026 Results on Apr 13, 2026MERF Inc. announced that they will report Q2, 2026 results on Apr 13, 2026Reported Earnings • Jan 15First quarter 2026 earnings released: EPS: JP¥28.79 (vs JP¥2.27 in 1Q 2025)First quarter 2026 results: EPS: JP¥28.79 (up from JP¥2.27 in 1Q 2025). Revenue: JP¥21.1b (down 1.2% from 1Q 2025). Net income: JP¥407.0m (up JP¥375.0m from 1Q 2025). Profit margin: 1.9% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. 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 15% per year, which means it is well ahead of earnings.공시 • Dec 06MERF Inc. to Report Q1, 2026 Results on Jan 14, 2026MERF Inc. announced that they will report Q1, 2026 results on Jan 14, 2026Reported Earnings • Oct 11Full year 2025 earnings released: JP¥14.37 loss per share (vs JP¥37.69 profit in FY 2024)Full year 2025 results: JP¥14.37 loss per share (down from JP¥37.69 profit in FY 2024). Revenue: JP¥82.4b (flat on FY 2024). Net loss: JP¥203.0m (down 138% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings.공시 • Aug 01MERF Inc. to Report Fiscal Year 2025 Results on Oct 10, 2025MERF Inc. announced that they will report fiscal year 2025 results on Oct 10, 2025모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • May 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to JP¥1,730, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 13x in the Metals and Mining industry in Japan. Total returns to shareholders of 215% over the past three years.Declared Dividend • May 09First half dividend of JP¥10.00 announcedShareholders will receive a dividend of JP¥10.00. Ex-date: 28th August 2026 Payment date: 24th November 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (17% 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 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.분석 기사 • Apr 20We Think You Should Be Aware Of Some Concerning Factors In MERF's (TSE:3168) EarningsThe stock price didn't jump after MERF Inc. ( TSE:3168 ) posted decent earnings last week. We did some digging and...Valuation Update With 7 Day Price Move • Apr 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to JP¥1,322, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Metals and Mining industry in Japan. Total returns to shareholders of 142% over the past three years.Buy Or Sell Opportunity • Apr 14Now 25% undervaluedOver the last 90 days, the stock has risen 78% to JP¥1,385. The fair value is estimated to be JP¥1,838, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 35%.공시 • Apr 03MERF Inc. to Report Q2, 2026 Results on Apr 13, 2026MERF Inc. announced that they will report Q2, 2026 results on Apr 13, 2026Buy Or Sell Opportunity • Mar 09Now 21% undervaluedOver the last 90 days, the stock has risen 175% to JP¥1,595. The fair value is estimated to be JP¥2,028, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%.Buy Or Sell Opportunity • Feb 18Now 24% undervaluedOver the last 90 days, the stock has risen 175% to JP¥1,530. The fair value is estimated to be JP¥2,015, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%.분석 기사 • Feb 04MERF (TSE:3168) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Valuation Update With 7 Day Price Move • Jan 21Investor sentiment improves as stock rises 23%After last week's 23% share price gain to JP¥952, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 15x in the Metals and Mining industry in Japan. Total returns to shareholders of 72% over the past three years.New Risk • Jan 15New 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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 38% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (164% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (JP¥13.1b market cap, or US$82.6m).Reported Earnings • Jan 15First quarter 2026 earnings released: EPS: JP¥28.79 (vs JP¥2.27 in 1Q 2025)First quarter 2026 results: EPS: JP¥28.79 (up from JP¥2.27 in 1Q 2025). Revenue: JP¥21.1b (down 1.2% from 1Q 2025). Net income: JP¥407.0m (up JP¥375.0m from 1Q 2025). Profit margin: 1.9% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. 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 15% per year, which means it is well ahead of earnings.분석 기사 • Jan 14MERF Inc.'s (TSE:3168) 28% Share Price Surge Not Quite Adding UpMERF Inc. ( TSE:3168 ) shares have continued their recent momentum with a 28% gain in the last month alone. Looking...분석 기사 • Dec 11MERF (TSE:3168) Is Due To Pay A Dividend Of ¥10.00MERF Inc.'s ( TSE:3168 ) investors are due to receive a payment of ¥10.00 per share on 8th of May. This payment means...Declared Dividend • Dec 11Final dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 26th February 2026 Payment date: 8th May 2026 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability.공시 • Dec 06MERF Inc. to Report Q1, 2026 Results on Jan 14, 2026MERF Inc. announced that they will report Q1, 2026 results on Jan 14, 2026Reported Earnings • Oct 11Full year 2025 earnings released: JP¥14.37 loss per share (vs JP¥37.69 profit in FY 2024)Full year 2025 results: JP¥14.37 loss per share (down from JP¥37.69 profit in FY 2024). Revenue: JP¥82.4b (flat on FY 2024). Net loss: JP¥203.0m (down 138% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings.공시 • Oct 10MERF Inc., Annual General Meeting, Nov 20, 2025MERF Inc., Annual General Meeting, Nov 20, 2025.Upcoming Dividend • Aug 21Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 25 November 2025. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.5%).분석 기사 • Aug 01MERF (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 25th of November, with investors...공시 • Aug 01MERF Inc. to Report Fiscal Year 2025 Results on Oct 10, 2025MERF Inc. announced that they will report fiscal year 2025 results on Oct 10, 2025분석 기사 • Jul 17MERF (TSE:3168) Will Pay A Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 25th of November, with investors...Reported Earnings • Jul 14Third quarter 2025 earnings released: JP¥14.92 loss per share (vs JP¥41.78 profit in 3Q 2024)Third quarter 2025 results: JP¥14.92 loss per share (down from JP¥41.78 profit in 3Q 2024). Revenue: JP¥18.9b (down 15% from 3Q 2024). Net loss: JP¥211.0m (down 136% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 39% 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.분석 기사 • May 09MERF (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...Declared Dividend • May 09First half dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 28th August 2025 Payment date: 25th November 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.4%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 9 years and payments have been stable during that time.공시 • May 03MERF Inc. to Report Q3, 2025 Results on Jul 11, 2025MERF Inc. announced that they will report Q3, 2025 results on Jul 11, 2025New Risk • Apr 21New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 0% Dividend yield: 5.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (0% payout ratio). Market cap is less than US$100m (JP¥7.18b market cap, or US$51.0m).분석 기사 • Apr 18MERF's (TSE:3168) Performance Is Even Better Than Its Earnings SuggestThe subdued stock price reaction suggests that MERF Inc.'s ( TSE:3168 ) strong earnings didn't offer any surprises...Reported Earnings • Apr 12Second quarter 2025 earnings released: JP¥14.79 loss per share (vs JP¥7.58 loss in 2Q 2024)Second quarter 2025 results: JP¥14.79 loss per share (further deteriorated from JP¥7.58 loss in 2Q 2024). Revenue: JP¥21.7b (up 23% from 2Q 2024). Net loss: JP¥209.0m (loss widened 95% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.공시 • Apr 11+ 1 more updateMerf Inc. Announces Dividend for the Second Quarter End of Fiscal Year Ending August 2025, Payable on May 8, 2025MERF Inc. announced dividend for the second quarter end of fiscal year ending August 2025. For the second quarter, the company announced to pay ¥10.00 per share against ¥10.00 per share a year ago. Dividend payable date (as planned) is May 8, 2025.분석 기사 • Apr 08Is MERF (TSE:3168) A Risky Investment?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Upcoming Dividend • Feb 20Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 27 February 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (4.3%).분석 기사 • Feb 10MERF (TSE:3168) Has Announced A Dividend Of ¥10.00MERF Inc. ( TSE:3168 ) will pay a dividend of ¥10.00 on the 8th of May. Based on this payment, the dividend yield will...공시 • Feb 08MERF Inc. to Report Q2, 2025 Results on Apr 11, 2025MERF Inc. announced that they will report Q2, 2025 results on Apr 11, 2025Reported Earnings • Jan 15First quarter 2025 earnings released: EPS: JP¥2.27 (vs JP¥8.51 in 1Q 2024)First quarter 2025 results: EPS: JP¥2.27 (down from JP¥8.51 in 1Q 2024). Revenue: JP¥21.4b (up 20% from 1Q 2024). Net income: JP¥32.0m (down 73% from 1Q 2024). Profit margin: 0.1% (down from 0.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.분석 기사 • Jan 09MERF (TSE:3168) Has Announced A Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 8th of May, with investors...분석 기사 • Dec 19Kurotani (TSE:3168) Has Affirmed Its Dividend Of ¥10.00Kurotani Corporation's ( TSE:3168 ) investors are due to receive a payment of ¥10.00 per share on 8th of May. Based on...Declared Dividend • Dec 19Final dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 27th February 2025 Payment date: 8th May 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 17% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공시 • Dec 17Kurotani Corporation to Report Q1, 2025 Results on Jan 16, 2025Kurotani Corporation announced that they will report Q1, 2025 results on Jan 16, 2025Reported Earnings • Oct 16Full year 2024 earnings released: EPS: JP¥37.69 (vs JP¥12.01 in FY 2023)Full year 2024 results: EPS: JP¥37.69 (up from JP¥12.01 in FY 2023). Revenue: JP¥82.1b (down 3.0% from FY 2023). Net income: JP¥532.0m (up 213% from FY 2023). Profit margin: 0.6% (up from 0.2% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.공시 • Oct 11Kurotani Corporation, Annual General Meeting, Nov 21, 2024Kurotani Corporation, Annual General Meeting, Nov 21, 2024.Upcoming Dividend • Aug 22Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 25 November 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.2%).공시 • Aug 18Kurotani Corporation to Report Fiscal Year 2024 Results on Oct 11, 2024Kurotani Corporation announced that they will report fiscal year 2024 results on Oct 11, 2024분석 기사 • Aug 07Kurotani (TSE:3168) Might Have The Makings Of A Multi-BaggerThere are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 22%After last week's 22% share price decline to JP¥590, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 9x in the Metals and Mining industry in Japan. Total loss to shareholders of 23% over the past three years.Reported Earnings • Jul 16Third quarter 2024 earnings released: EPS: JP¥41.78 (vs JP¥6.10 in 3Q 2023)Third quarter 2024 results: EPS: JP¥41.78 (up from JP¥6.10 in 3Q 2023). Revenue: JP¥22.4b (up 12% from 3Q 2023). Net income: JP¥590.0m (up JP¥504.0m from 3Q 2023). Profit margin: 2.6% (up from 0.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has remained flat, which means it is well ahead of earnings.분석 기사 • Jul 12Kurotani (TSE:3168) Has Announced A Dividend Of ¥10.00Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...공시 • Jul 12Kurotani Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending August 31, 2024Kurotani Corporation provided consolidated earnings guidance for the fiscal year ending August 31, 2024. For the year, company expects net sales of JPY 82,128 million, operating profit of JPY 2,271 million, profit attributable to owner of parent of JPY 1,080 million and basic earnings per share of JPY 76.52.분석 기사 • Jun 19Kurotani (TSE:3168) Has Announced A Dividend Of ¥10.00The board of Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the...공시 • May 03Kurotani Corporation to Report Q3, 2024 Results on Jul 12, 2024Kurotani Corporation announced that they will report Q3, 2024 results on Jul 12, 2024분석 기사 • Apr 29Kurotani (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the...분석 기사 • Apr 15Kurotani's (TSE:3168) Dividend Will Be ¥10.00Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...Reported Earnings • Apr 14Second quarter 2024 earnings released: JP¥7.58 loss per share (vs JP¥0.85 loss in 2Q 2023)Second quarter 2024 results: JP¥7.58 loss per share (further deteriorated from JP¥0.85 loss in 2Q 2023). Revenue: JP¥17.7b (down 13% from 2Q 2023). Net loss: JP¥107.0m (loss widened JP¥95.0m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Feb 21Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 28 February 2024. Payment date: 09 May 2024. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.5%).공시 • Jan 28Kurotani Corporation to Report Q2, 2024 Results on Apr 12, 2024Kurotani Corporation announced that they will report Q2, 2024 results on Apr 12, 2024Reported Earnings • Jan 16First quarter 2024 earnings released: EPS: JP¥8.51 (vs JP¥1.48 loss in 1Q 2023)First quarter 2024 results: EPS: JP¥8.51 (up from JP¥1.48 loss in 1Q 2023). Revenue: JP¥17.7b (down 16% from 1Q 2023). Net income: JP¥120.0m (up JP¥141.0m from 1Q 2023). Profit margin: 0.7% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.공시 • Jan 16Kurotani Corporation Provides Dividend Guidance for the Second Quarter and Fiscal Year Ending August 31, 2024Kurotani Corporation provides dividend guidance for the second quarter and fiscal year ending August 31, 2024. For the quarter, the company expects dividend to be JPY 10 per share.For the year, the company expects dividend to be JPY 10 per share.공시 • Nov 29Kurotani Corporation to Report Q1, 2024 Results on Feb 13, 2024Kurotani Corporation announced that they will report Q1, 2024 results on Feb 13, 2024Reported Earnings • Oct 16Full year 2023 earnings released: EPS: JP¥12.01 (vs JP¥38.48 in FY 2022)Full year 2023 results: EPS: JP¥12.01 (down from JP¥38.48 in FY 2022). Revenue: JP¥84.6b (down 5.1% from FY 2022). Net income: JP¥170.0m (down 69% from FY 2022). Profit margin: 0.2% (down from 0.6% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.공시 • Oct 15Kurotani Corporation, Annual General Meeting, Nov 22, 2023Kurotani Corporation, Annual General Meeting, Nov 22, 2023.공시 • Oct 14+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2024 and Full Year Ending August 31, 2024Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2024 and full year ending August 31, 2024. For the first half, the company expected net sales of JPY 32,675 million, operating profit of JPY 252 million, profit attributable to owner of parent of JPY 117 million and basic earnings per share of JPY 8.30.For the year, the company expected net sales of JPY 72,917 million, operating profit of JPY 634 million, profit attributable to owner of parent of JPY 320 million and basic earnings per share of JPY 22.65.Upcoming Dividend • Aug 23Upcoming dividend of JP¥10.00 per share at 3.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 28 November 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.5%).공시 • Aug 03Kurotani Corporation to Report Q4, 2023 Results on Oct 13, 2023Kurotani Corporation announced that they will report Q4, 2023 results on Oct 13, 2023Reported Earnings • Jul 16Third quarter 2023 earnings released: EPS: JP¥6.10 (vs JP¥31.21 in 3Q 2022)Third quarter 2023 results: EPS: JP¥6.10 (down from JP¥31.21 in 3Q 2022). Revenue: JP¥20.0b (down 20% from 3Q 2022). Net income: JP¥86.0m (down 81% from 3Q 2022). Profit margin: 0.4% (down from 1.8% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.공시 • Jul 12+ 1 more updateKurotani Corporation Provides Earnings Guidance for the Full Year Ending August 31, 2023Kurotani Corporation provided earnings guidance for the full year ending August 31, 2023. For the year, the company expected net sales of JPY 81,576 million, operating profit of JPY 535 million, profit attributable to owner of parent of JPY 208 million and basic earnings per share of JPY 14.67.공시 • May 19Kurotani Corporation to Report Q3, 2023 Results on Jul 12, 2023Kurotani Corporation announced that they will report Q3, 2023 results on Jul 12, 2023Reported Earnings • Apr 16Second quarter 2023 earnings released: JP¥0.85 loss per share (vs JP¥12.38 profit in 2Q 2022)Second quarter 2023 results: JP¥0.85 loss per share (down from JP¥12.38 profit in 2Q 2022). Revenue: JP¥20.3b (up 1.2% from 2Q 2022). Net loss: JP¥12.0m (down 107% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Feb 20Upcoming dividend of JP¥10.00 per share at 3.3% yieldEligible shareholders must have bought the stock before 27 February 2023. Payment date: 09 May 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.5%).공시 • Jan 29Kurotani Corporation to Report Q2, 2023 Results on Apr 14, 2023Kurotani Corporation announced that they will report Q2, 2023 results on Apr 14, 2023Reported Earnings • Jan 13First quarter 2023 earnings released: JP¥1.48 loss per share (vs JP¥12.19 profit in 1Q 2022)First quarter 2023 results: JP¥1.48 loss per share (down from JP¥12.19 profit in 1Q 2022). Revenue: JP¥21.2b (up 4.7% from 1Q 2022). Net loss: JP¥21.0m (down 112% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.공시 • Jan 13Kurotani Corporation (TSE:3168) announces an Equity Buyback for 140,000 shares, for ¥85.4 million.Kurotani Corporation (TSE:3168) announces a share repurchase program. Under the program, the company will repurchase up to 140,000 shares, representing 0.98% of its issued share capital (excluding treasury stock), for a total purchase price of ¥85.4 million. The shares will be repurchased at a price of ¥610 per share. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment. As of August 31, 2022, the company has 14,337,200 issued shares (excluding treasury stock) and 112,166 treasury shares.공시 • Jan 12+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2023 and Full Year Ending August 31, 2023Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2023 and full year ending August 31, 2023. For the first half, the company expected net sales of JPY 39,748 million, operating profit of JPY 481 million, profit attributable to owner of parent of JPY 305 million and basic earnings per share of JPY 21.49.For the year, the company expected net sales of JPY 83,158 million, operating profit of JPY 1,124 million, profit attributable to owner of parent of JPY 720 million and basic earnings per share of JPY 50.68.공시 • Nov 27Kurotani Corporation to Report Q1, 2023 Results on Jan 12, 2023Kurotani Corporation announced that they will report Q1, 2023 results on Jan 12, 2023Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). External Director Kenichi Mizuno was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Reported Earnings • Oct 17Full year 2022 earnings released: EPS: JP¥38.48 (vs JP¥95.36 in FY 2021)Full year 2022 results: EPS: JP¥38.48 (down from JP¥95.36 in FY 2021). Revenue: JP¥89.1b (up 44% from FY 2021). Net income: JP¥547.0m (down 60% from FY 2021). Profit margin: 0.6% (down from 2.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • Oct 16Kurotani Corporation, Annual General Meeting, Nov 25, 2022Kurotani Corporation, Annual General Meeting, Nov 25, 2022.공시 • Oct 15Kurotani Provides Dividend Guidance for the Second Quarter and Year Ending August 2023Kurotani Corporation expects a dividend of ¥10.00 per share for the year ending August 2023.For the second quarter of year ending August 2023, the company expects dividend of ¥10.00 per share.공시 • Oct 14Kurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2023 and Full Year Ending August 31, 2023Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2023 and full year ending August 31, 2023. For the second quarter, the company expects net sales of JPY 39,748 million, operating profit of JPY 481 million, profit attributable to owner of parent of JPY 305 million and basic earnings per share of JPY 21.49.For the year, the company expects net sales of JPY 83,158 million, operating profit of JPY 1,124 million, profit attributable to owner of parent of JPY 720 million and basic earnings per share of JPY 50.68.Upcoming Dividend • Aug 23Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 30 August 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (5.5%).공시 • Aug 22Kurotani Corporation to Report Fiscal Year 2022 Results on Oct 14, 2022Kurotani Corporation announced that they will report fiscal year 2022 results on Oct 14, 2022Reported Earnings • Jul 13Third quarter 2022 earnings released: EPS: JP¥31.21 (vs JP¥33.46 in 3Q 2021)Third quarter 2022 results: EPS: JP¥31.21 (down from JP¥33.46 in 3Q 2021). Revenue: JP¥25.2b (up 57% from 3Q 2021). Net income: JP¥444.0m (down 6.5% from 3Q 2021). Profit margin: 1.8% (down from 3.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • Jul 12Kurotani Corporation Provides Dividend Guidance for the Year Ending August 2022Kurotani Corporation expects a dividend of ¥10.00 per share for the year ending August 2022.공시 • May 20Kurotani Corporation to Report Q3, 2022 Results on Jul 11, 2022Kurotani Corporation announced that they will report Q3, 2022 results on Jul 11, 2022Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). External Director Kenichi Mizuno was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Apr 18Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to JP¥614, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 44% over the past three years.Reported Earnings • Apr 12Second quarter 2022 earnings released: EPS: JP¥12.38 (vs JP¥19.10 in 2Q 2021)Second quarter 2022 results: EPS: JP¥12.38 (down from JP¥19.10 in 2Q 2021). Revenue: JP¥20.1b (up 44% from 2Q 2021). Net income: JP¥176.0m (down 35% from 2Q 2021). Profit margin: 0.9% (down from 1.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.공시 • Apr 12+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the Full Year Ending August 2022Kurotani Corporation provided consolidated earnings guidance for the full year ending August 2022. For the period, the company expected net sales of JPY 79,315 million, operating profit of JPY 1,266 million, profit attributable to owners of parent of JPY 638 million and basic earnings per share of JPY 44.85.Upcoming Dividend • Feb 18Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 25 February 2022. Payment date: 09 May 2022. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (5.0%).공시 • Feb 11Kurotani Corporation to Report Q2, 2022 Results on Apr 11, 2022Kurotani Corporation announced that they will report Q2, 2022 results on Apr 11, 2022Reported Earnings • Jan 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: JP¥12.19 (up from JP¥11.78 in 1Q 2021). Revenue: JP¥20.2b (up 55% from 1Q 2021). Net income: JP¥173.0m (up 3.6% from 1Q 2021). Profit margin: 0.9% (down from 1.3% in 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improved over the past weekAfter last week's 26% share price gain to JP¥812, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 10x in the Metals and Mining industry in Japan. Total returns to shareholders of 66% over the past three years.Reported Earnings • Oct 12Full year 2021 earnings released: EPS JP¥95.36 (vs JP¥26.69 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥62.1b (up 45% from FY 2020). Net income: JP¥1.35b (up 258% from FY 2020). Profit margin: 2.2% (up from 0.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 23Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 30 August 2021. Payment date: 27 November 2021. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (2.7%).매출 및 비용 세부 내역MERF가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이TSE:3168 매출, 비용 및 순이익 (JPY Millions)날짜매출순이익일반관리비연구개발비28 Feb 2684,9911,6562,470030 Nov 2582,2121712,379031 Aug 2582,463-2032,153031 May 2586,303-4592,014028 Feb 2589,7263421,911030 Nov 2485,6754441,662031 Aug 2482,0705321,670031 May 2480,8277201,596029 Feb 2478,4962161,514030 Nov 2381,1793111,547031 Aug 2384,5941701,557031 May 2385,174-1931,610028 Feb 2390,3111651,719030 Nov 2290,0603531,725031 Aug 2289,1025471,711031 May 2284,5071,2331,642028 Feb 2275,3871,2641,507030 Nov 2169,2051,3591,419031 Aug 2162,0581,3531,379031 May 2155,1061,2211,347028 Feb 2149,0785801,309030 Nov 2045,6164831,312031 Aug 2042,7523781,274031 May 2042,502-1161,241029 Feb 2045,4781881,262030 Nov 1947,535-1141,259031 Aug 1950,670-2301,249031 May 1953,584-2681,242028 Feb 1954,594-3471,213030 Nov 1855,785-141,195031 Aug 1856,7914621,192031 May 1855,6159571,197028 Feb 1855,5101,0921,224030 Nov 1756,2181,4471,247031 Aug 1752,8681,0371,219031 May 1749,5956641,189028 Feb 1746,8735291,146030 Nov 1643,571-3241,101031 Aug 1642,955-3891,0980양질의 수익: 3168의 비현금 수익 수준이 높습니다.이익 마진 증가: 3168의 현재 순 이익률 (1.9%)은 지난해 (0.4%)보다 높습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 3168의 수익은 지난 5년 동안 연평균 25.6% 감소했습니다.성장 가속화: 지난 1년간 3168 의 수익 증가율(384.2%)은 연간 평균(-25.6%)을 초과합니다.수익 대 산업: 3168의 지난 1년 수익 증가율(384.2%)은 Metals and Mining 업계의 8.3%를 상회했습니다.자기자본이익률높은 ROE: 3168의 자본 수익률(14.6%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YMaterials 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 02:20종가2026/05/21 00:00수익2026/02/28연간 수익2025/08/31데이터 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 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스MERF Inc.는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
분석 기사 • Apr 20We Think You Should Be Aware Of Some Concerning Factors In MERF's (TSE:3168) EarningsThe stock price didn't jump after MERF Inc. ( TSE:3168 ) posted decent earnings last week. We did some digging and...
공시 • Apr 03MERF Inc. to Report Q2, 2026 Results on Apr 13, 2026MERF Inc. announced that they will report Q2, 2026 results on Apr 13, 2026
Reported Earnings • Jan 15First quarter 2026 earnings released: EPS: JP¥28.79 (vs JP¥2.27 in 1Q 2025)First quarter 2026 results: EPS: JP¥28.79 (up from JP¥2.27 in 1Q 2025). Revenue: JP¥21.1b (down 1.2% from 1Q 2025). Net income: JP¥407.0m (up JP¥375.0m from 1Q 2025). Profit margin: 1.9% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. 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 15% per year, which means it is well ahead of earnings.
공시 • Dec 06MERF Inc. to Report Q1, 2026 Results on Jan 14, 2026MERF Inc. announced that they will report Q1, 2026 results on Jan 14, 2026
Reported Earnings • Oct 11Full year 2025 earnings released: JP¥14.37 loss per share (vs JP¥37.69 profit in FY 2024)Full year 2025 results: JP¥14.37 loss per share (down from JP¥37.69 profit in FY 2024). Revenue: JP¥82.4b (flat on FY 2024). Net loss: JP¥203.0m (down 138% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
공시 • Aug 01MERF Inc. to Report Fiscal Year 2025 Results on Oct 10, 2025MERF Inc. announced that they will report fiscal year 2025 results on Oct 10, 2025
Valuation Update With 7 Day Price Move • May 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to JP¥1,730, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 13x in the Metals and Mining industry in Japan. Total returns to shareholders of 215% over the past three years.
Declared Dividend • May 09First half dividend of JP¥10.00 announcedShareholders will receive a dividend of JP¥10.00. Ex-date: 28th August 2026 Payment date: 24th November 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (17% 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 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
분석 기사 • Apr 20We Think You Should Be Aware Of Some Concerning Factors In MERF's (TSE:3168) EarningsThe stock price didn't jump after MERF Inc. ( TSE:3168 ) posted decent earnings last week. We did some digging and...
Valuation Update With 7 Day Price Move • Apr 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to JP¥1,322, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Metals and Mining industry in Japan. Total returns to shareholders of 142% over the past three years.
Buy Or Sell Opportunity • Apr 14Now 25% undervaluedOver the last 90 days, the stock has risen 78% to JP¥1,385. The fair value is estimated to be JP¥1,838, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 35%.
공시 • Apr 03MERF Inc. to Report Q2, 2026 Results on Apr 13, 2026MERF Inc. announced that they will report Q2, 2026 results on Apr 13, 2026
Buy Or Sell Opportunity • Mar 09Now 21% undervaluedOver the last 90 days, the stock has risen 175% to JP¥1,595. The fair value is estimated to be JP¥2,028, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%.
Buy Or Sell Opportunity • Feb 18Now 24% undervaluedOver the last 90 days, the stock has risen 175% to JP¥1,530. The fair value is estimated to be JP¥2,015, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%.
분석 기사 • Feb 04MERF (TSE:3168) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Valuation Update With 7 Day Price Move • Jan 21Investor sentiment improves as stock rises 23%After last week's 23% share price gain to JP¥952, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 15x in the Metals and Mining industry in Japan. Total returns to shareholders of 72% over the past three years.
New Risk • Jan 15New 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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 38% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (164% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (JP¥13.1b market cap, or US$82.6m).
Reported Earnings • Jan 15First quarter 2026 earnings released: EPS: JP¥28.79 (vs JP¥2.27 in 1Q 2025)First quarter 2026 results: EPS: JP¥28.79 (up from JP¥2.27 in 1Q 2025). Revenue: JP¥21.1b (down 1.2% from 1Q 2025). Net income: JP¥407.0m (up JP¥375.0m from 1Q 2025). Profit margin: 1.9% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. 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 15% per year, which means it is well ahead of earnings.
분석 기사 • Jan 14MERF Inc.'s (TSE:3168) 28% Share Price Surge Not Quite Adding UpMERF Inc. ( TSE:3168 ) shares have continued their recent momentum with a 28% gain in the last month alone. Looking...
분석 기사 • Dec 11MERF (TSE:3168) Is Due To Pay A Dividend Of ¥10.00MERF Inc.'s ( TSE:3168 ) investors are due to receive a payment of ¥10.00 per share on 8th of May. This payment means...
Declared Dividend • Dec 11Final dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 26th February 2026 Payment date: 8th May 2026 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability.
공시 • Dec 06MERF Inc. to Report Q1, 2026 Results on Jan 14, 2026MERF Inc. announced that they will report Q1, 2026 results on Jan 14, 2026
Reported Earnings • Oct 11Full year 2025 earnings released: JP¥14.37 loss per share (vs JP¥37.69 profit in FY 2024)Full year 2025 results: JP¥14.37 loss per share (down from JP¥37.69 profit in FY 2024). Revenue: JP¥82.4b (flat on FY 2024). Net loss: JP¥203.0m (down 138% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
공시 • Oct 10MERF Inc., Annual General Meeting, Nov 20, 2025MERF Inc., Annual General Meeting, Nov 20, 2025.
Upcoming Dividend • Aug 21Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 25 November 2025. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.5%).
분석 기사 • Aug 01MERF (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 25th of November, with investors...
공시 • Aug 01MERF Inc. to Report Fiscal Year 2025 Results on Oct 10, 2025MERF Inc. announced that they will report fiscal year 2025 results on Oct 10, 2025
분석 기사 • Jul 17MERF (TSE:3168) Will Pay A Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 25th of November, with investors...
Reported Earnings • Jul 14Third quarter 2025 earnings released: JP¥14.92 loss per share (vs JP¥41.78 profit in 3Q 2024)Third quarter 2025 results: JP¥14.92 loss per share (down from JP¥41.78 profit in 3Q 2024). Revenue: JP¥18.9b (down 15% from 3Q 2024). Net loss: JP¥211.0m (down 136% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 39% 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.
분석 기사 • May 09MERF (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...
Declared Dividend • May 09First half dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 28th August 2025 Payment date: 25th November 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.4%. Sustainability & Growth The dividend has increased by an average of 17% per year over the past 9 years and payments have been stable during that time.
공시 • May 03MERF Inc. to Report Q3, 2025 Results on Jul 11, 2025MERF Inc. announced that they will report Q3, 2025 results on Jul 11, 2025
New Risk • Apr 21New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 0% Dividend yield: 5.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (0% payout ratio). Market cap is less than US$100m (JP¥7.18b market cap, or US$51.0m).
분석 기사 • Apr 18MERF's (TSE:3168) Performance Is Even Better Than Its Earnings SuggestThe subdued stock price reaction suggests that MERF Inc.'s ( TSE:3168 ) strong earnings didn't offer any surprises...
Reported Earnings • Apr 12Second quarter 2025 earnings released: JP¥14.79 loss per share (vs JP¥7.58 loss in 2Q 2024)Second quarter 2025 results: JP¥14.79 loss per share (further deteriorated from JP¥7.58 loss in 2Q 2024). Revenue: JP¥21.7b (up 23% from 2Q 2024). Net loss: JP¥209.0m (loss widened 95% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
공시 • Apr 11+ 1 more updateMerf Inc. Announces Dividend for the Second Quarter End of Fiscal Year Ending August 2025, Payable on May 8, 2025MERF Inc. announced dividend for the second quarter end of fiscal year ending August 2025. For the second quarter, the company announced to pay ¥10.00 per share against ¥10.00 per share a year ago. Dividend payable date (as planned) is May 8, 2025.
분석 기사 • Apr 08Is MERF (TSE:3168) A Risky Investment?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Upcoming Dividend • Feb 20Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 27 February 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (4.3%).
분석 기사 • Feb 10MERF (TSE:3168) Has Announced A Dividend Of ¥10.00MERF Inc. ( TSE:3168 ) will pay a dividend of ¥10.00 on the 8th of May. Based on this payment, the dividend yield will...
공시 • Feb 08MERF Inc. to Report Q2, 2025 Results on Apr 11, 2025MERF Inc. announced that they will report Q2, 2025 results on Apr 11, 2025
Reported Earnings • Jan 15First quarter 2025 earnings released: EPS: JP¥2.27 (vs JP¥8.51 in 1Q 2024)First quarter 2025 results: EPS: JP¥2.27 (down from JP¥8.51 in 1Q 2024). Revenue: JP¥21.4b (up 20% from 1Q 2024). Net income: JP¥32.0m (down 73% from 1Q 2024). Profit margin: 0.1% (down from 0.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
분석 기사 • Jan 09MERF (TSE:3168) Has Announced A Dividend Of ¥10.00The board of MERF Inc. ( TSE:3168 ) has announced that it will pay a dividend on the 8th of May, with investors...
분석 기사 • Dec 19Kurotani (TSE:3168) Has Affirmed Its Dividend Of ¥10.00Kurotani Corporation's ( TSE:3168 ) investors are due to receive a payment of ¥10.00 per share on 8th of May. Based on...
Declared Dividend • Dec 19Final dividend of JP¥10.00 announcedDividend of JP¥10.00 is the same as last year. Ex-date: 27th February 2025 Payment date: 8th May 2025 Dividend yield will be 3.6%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 17% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공시 • Dec 17Kurotani Corporation to Report Q1, 2025 Results on Jan 16, 2025Kurotani Corporation announced that they will report Q1, 2025 results on Jan 16, 2025
Reported Earnings • Oct 16Full year 2024 earnings released: EPS: JP¥37.69 (vs JP¥12.01 in FY 2023)Full year 2024 results: EPS: JP¥37.69 (up from JP¥12.01 in FY 2023). Revenue: JP¥82.1b (down 3.0% from FY 2023). Net income: JP¥532.0m (up 213% from FY 2023). Profit margin: 0.6% (up from 0.2% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
공시 • Oct 11Kurotani Corporation, Annual General Meeting, Nov 21, 2024Kurotani Corporation, Annual General Meeting, Nov 21, 2024.
Upcoming Dividend • Aug 22Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 25 November 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.2%).
공시 • Aug 18Kurotani Corporation to Report Fiscal Year 2024 Results on Oct 11, 2024Kurotani Corporation announced that they will report fiscal year 2024 results on Oct 11, 2024
분석 기사 • Aug 07Kurotani (TSE:3168) Might Have The Makings Of A Multi-BaggerThere are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 22%After last week's 22% share price decline to JP¥590, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 9x in the Metals and Mining industry in Japan. Total loss to shareholders of 23% over the past three years.
Reported Earnings • Jul 16Third quarter 2024 earnings released: EPS: JP¥41.78 (vs JP¥6.10 in 3Q 2023)Third quarter 2024 results: EPS: JP¥41.78 (up from JP¥6.10 in 3Q 2023). Revenue: JP¥22.4b (up 12% from 3Q 2023). Net income: JP¥590.0m (up JP¥504.0m from 3Q 2023). Profit margin: 2.6% (up from 0.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
분석 기사 • Jul 12Kurotani (TSE:3168) Has Announced A Dividend Of ¥10.00Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...
공시 • Jul 12Kurotani Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending August 31, 2024Kurotani Corporation provided consolidated earnings guidance for the fiscal year ending August 31, 2024. For the year, company expects net sales of JPY 82,128 million, operating profit of JPY 2,271 million, profit attributable to owner of parent of JPY 1,080 million and basic earnings per share of JPY 76.52.
분석 기사 • Jun 19Kurotani (TSE:3168) Has Announced A Dividend Of ¥10.00The board of Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the...
공시 • May 03Kurotani Corporation to Report Q3, 2024 Results on Jul 12, 2024Kurotani Corporation announced that they will report Q3, 2024 results on Jul 12, 2024
분석 기사 • Apr 29Kurotani (TSE:3168) Has Affirmed Its Dividend Of ¥10.00The board of Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the...
분석 기사 • Apr 15Kurotani's (TSE:3168) Dividend Will Be ¥10.00Kurotani Corporation ( TSE:3168 ) has announced that it will pay a dividend of ¥10.00 per share on the 25th of...
Reported Earnings • Apr 14Second quarter 2024 earnings released: JP¥7.58 loss per share (vs JP¥0.85 loss in 2Q 2023)Second quarter 2024 results: JP¥7.58 loss per share (further deteriorated from JP¥0.85 loss in 2Q 2023). Revenue: JP¥17.7b (down 13% from 2Q 2023). Net loss: JP¥107.0m (loss widened JP¥95.0m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Feb 21Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 28 February 2024. Payment date: 09 May 2024. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.5%).
공시 • Jan 28Kurotani Corporation to Report Q2, 2024 Results on Apr 12, 2024Kurotani Corporation announced that they will report Q2, 2024 results on Apr 12, 2024
Reported Earnings • Jan 16First quarter 2024 earnings released: EPS: JP¥8.51 (vs JP¥1.48 loss in 1Q 2023)First quarter 2024 results: EPS: JP¥8.51 (up from JP¥1.48 loss in 1Q 2023). Revenue: JP¥17.7b (down 16% from 1Q 2023). Net income: JP¥120.0m (up JP¥141.0m from 1Q 2023). Profit margin: 0.7% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
공시 • Jan 16Kurotani Corporation Provides Dividend Guidance for the Second Quarter and Fiscal Year Ending August 31, 2024Kurotani Corporation provides dividend guidance for the second quarter and fiscal year ending August 31, 2024. For the quarter, the company expects dividend to be JPY 10 per share.For the year, the company expects dividend to be JPY 10 per share.
공시 • Nov 29Kurotani Corporation to Report Q1, 2024 Results on Feb 13, 2024Kurotani Corporation announced that they will report Q1, 2024 results on Feb 13, 2024
Reported Earnings • Oct 16Full year 2023 earnings released: EPS: JP¥12.01 (vs JP¥38.48 in FY 2022)Full year 2023 results: EPS: JP¥12.01 (down from JP¥38.48 in FY 2022). Revenue: JP¥84.6b (down 5.1% from FY 2022). Net income: JP¥170.0m (down 69% from FY 2022). Profit margin: 0.2% (down from 0.6% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
공시 • Oct 15Kurotani Corporation, Annual General Meeting, Nov 22, 2023Kurotani Corporation, Annual General Meeting, Nov 22, 2023.
공시 • Oct 14+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2024 and Full Year Ending August 31, 2024Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2024 and full year ending August 31, 2024. For the first half, the company expected net sales of JPY 32,675 million, operating profit of JPY 252 million, profit attributable to owner of parent of JPY 117 million and basic earnings per share of JPY 8.30.For the year, the company expected net sales of JPY 72,917 million, operating profit of JPY 634 million, profit attributable to owner of parent of JPY 320 million and basic earnings per share of JPY 22.65.
Upcoming Dividend • Aug 23Upcoming dividend of JP¥10.00 per share at 3.2% yieldEligible shareholders must have bought the stock before 30 August 2023. Payment date: 28 November 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.5%).
공시 • Aug 03Kurotani Corporation to Report Q4, 2023 Results on Oct 13, 2023Kurotani Corporation announced that they will report Q4, 2023 results on Oct 13, 2023
Reported Earnings • Jul 16Third quarter 2023 earnings released: EPS: JP¥6.10 (vs JP¥31.21 in 3Q 2022)Third quarter 2023 results: EPS: JP¥6.10 (down from JP¥31.21 in 3Q 2022). Revenue: JP¥20.0b (down 20% from 3Q 2022). Net income: JP¥86.0m (down 81% from 3Q 2022). Profit margin: 0.4% (down from 1.8% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
공시 • Jul 12+ 1 more updateKurotani Corporation Provides Earnings Guidance for the Full Year Ending August 31, 2023Kurotani Corporation provided earnings guidance for the full year ending August 31, 2023. For the year, the company expected net sales of JPY 81,576 million, operating profit of JPY 535 million, profit attributable to owner of parent of JPY 208 million and basic earnings per share of JPY 14.67.
공시 • May 19Kurotani Corporation to Report Q3, 2023 Results on Jul 12, 2023Kurotani Corporation announced that they will report Q3, 2023 results on Jul 12, 2023
Reported Earnings • Apr 16Second quarter 2023 earnings released: JP¥0.85 loss per share (vs JP¥12.38 profit in 2Q 2022)Second quarter 2023 results: JP¥0.85 loss per share (down from JP¥12.38 profit in 2Q 2022). Revenue: JP¥20.3b (up 1.2% from 2Q 2022). Net loss: JP¥12.0m (down 107% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Feb 20Upcoming dividend of JP¥10.00 per share at 3.3% yieldEligible shareholders must have bought the stock before 27 February 2023. Payment date: 09 May 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.5%).
공시 • Jan 29Kurotani Corporation to Report Q2, 2023 Results on Apr 14, 2023Kurotani Corporation announced that they will report Q2, 2023 results on Apr 14, 2023
Reported Earnings • Jan 13First quarter 2023 earnings released: JP¥1.48 loss per share (vs JP¥12.19 profit in 1Q 2022)First quarter 2023 results: JP¥1.48 loss per share (down from JP¥12.19 profit in 1Q 2022). Revenue: JP¥21.2b (up 4.7% from 1Q 2022). Net loss: JP¥21.0m (down 112% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
공시 • Jan 13Kurotani Corporation (TSE:3168) announces an Equity Buyback for 140,000 shares, for ¥85.4 million.Kurotani Corporation (TSE:3168) announces a share repurchase program. Under the program, the company will repurchase up to 140,000 shares, representing 0.98% of its issued share capital (excluding treasury stock), for a total purchase price of ¥85.4 million. The shares will be repurchased at a price of ¥610 per share. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment. As of August 31, 2022, the company has 14,337,200 issued shares (excluding treasury stock) and 112,166 treasury shares.
공시 • Jan 12+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2023 and Full Year Ending August 31, 2023Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2023 and full year ending August 31, 2023. For the first half, the company expected net sales of JPY 39,748 million, operating profit of JPY 481 million, profit attributable to owner of parent of JPY 305 million and basic earnings per share of JPY 21.49.For the year, the company expected net sales of JPY 83,158 million, operating profit of JPY 1,124 million, profit attributable to owner of parent of JPY 720 million and basic earnings per share of JPY 50.68.
공시 • Nov 27Kurotani Corporation to Report Q1, 2023 Results on Jan 12, 2023Kurotani Corporation announced that they will report Q1, 2023 results on Jan 12, 2023
Board Change • Nov 16No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). External Director Kenichi Mizuno was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Reported Earnings • Oct 17Full year 2022 earnings released: EPS: JP¥38.48 (vs JP¥95.36 in FY 2021)Full year 2022 results: EPS: JP¥38.48 (down from JP¥95.36 in FY 2021). Revenue: JP¥89.1b (up 44% from FY 2021). Net income: JP¥547.0m (down 60% from FY 2021). Profit margin: 0.6% (down from 2.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • Oct 16Kurotani Corporation, Annual General Meeting, Nov 25, 2022Kurotani Corporation, Annual General Meeting, Nov 25, 2022.
공시 • Oct 15Kurotani Provides Dividend Guidance for the Second Quarter and Year Ending August 2023Kurotani Corporation expects a dividend of ¥10.00 per share for the year ending August 2023.For the second quarter of year ending August 2023, the company expects dividend of ¥10.00 per share.
공시 • Oct 14Kurotani Corporation Provides Consolidated Earnings Guidance for the First Half Ending February 2023 and Full Year Ending August 31, 2023Kurotani Corporation provided consolidated earnings guidance for the first half ending February 2023 and full year ending August 31, 2023. For the second quarter, the company expects net sales of JPY 39,748 million, operating profit of JPY 481 million, profit attributable to owner of parent of JPY 305 million and basic earnings per share of JPY 21.49.For the year, the company expects net sales of JPY 83,158 million, operating profit of JPY 1,124 million, profit attributable to owner of parent of JPY 720 million and basic earnings per share of JPY 50.68.
Upcoming Dividend • Aug 23Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 30 August 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (5.5%).
공시 • Aug 22Kurotani Corporation to Report Fiscal Year 2022 Results on Oct 14, 2022Kurotani Corporation announced that they will report fiscal year 2022 results on Oct 14, 2022
Reported Earnings • Jul 13Third quarter 2022 earnings released: EPS: JP¥31.21 (vs JP¥33.46 in 3Q 2021)Third quarter 2022 results: EPS: JP¥31.21 (down from JP¥33.46 in 3Q 2021). Revenue: JP¥25.2b (up 57% from 3Q 2021). Net income: JP¥444.0m (down 6.5% from 3Q 2021). Profit margin: 1.8% (down from 3.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • Jul 12Kurotani Corporation Provides Dividend Guidance for the Year Ending August 2022Kurotani Corporation expects a dividend of ¥10.00 per share for the year ending August 2022.
공시 • May 20Kurotani Corporation to Report Q3, 2022 Results on Jul 11, 2022Kurotani Corporation announced that they will report Q3, 2022 results on Jul 11, 2022
Board Change • Apr 27No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). External Director Kenichi Mizuno was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Apr 18Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to JP¥614, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 44% over the past three years.
Reported Earnings • Apr 12Second quarter 2022 earnings released: EPS: JP¥12.38 (vs JP¥19.10 in 2Q 2021)Second quarter 2022 results: EPS: JP¥12.38 (down from JP¥19.10 in 2Q 2021). Revenue: JP¥20.1b (up 44% from 2Q 2021). Net income: JP¥176.0m (down 35% from 2Q 2021). Profit margin: 0.9% (down from 1.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
공시 • Apr 12+ 1 more updateKurotani Corporation Provides Consolidated Earnings Guidance for the Full Year Ending August 2022Kurotani Corporation provided consolidated earnings guidance for the full year ending August 2022. For the period, the company expected net sales of JPY 79,315 million, operating profit of JPY 1,266 million, profit attributable to owners of parent of JPY 638 million and basic earnings per share of JPY 44.85.
Upcoming Dividend • Feb 18Upcoming dividend of JP¥10.00 per shareEligible shareholders must have bought the stock before 25 February 2022. Payment date: 09 May 2022. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (5.0%).
공시 • Feb 11Kurotani Corporation to Report Q2, 2022 Results on Apr 11, 2022Kurotani Corporation announced that they will report Q2, 2022 results on Apr 11, 2022
Reported Earnings • Jan 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: JP¥12.19 (up from JP¥11.78 in 1Q 2021). Revenue: JP¥20.2b (up 55% from 1Q 2021). Net income: JP¥173.0m (up 3.6% from 1Q 2021). Profit margin: 0.9% (down from 1.3% in 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improved over the past weekAfter last week's 26% share price gain to JP¥812, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 10x in the Metals and Mining industry in Japan. Total returns to shareholders of 66% over the past three years.
Reported Earnings • Oct 12Full year 2021 earnings released: EPS JP¥95.36 (vs JP¥26.69 in FY 2020)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥62.1b (up 45% from FY 2020). Net income: JP¥1.35b (up 258% from FY 2020). Profit margin: 2.2% (up from 0.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 23Upcoming dividend of JP¥7.50 per shareEligible shareholders must have bought the stock before 30 August 2021. Payment date: 27 November 2021. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (2.7%).