Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥7,460, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Electronic industry in Japan. Total returns to shareholders of 301% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥12,396 per share. Reported Earnings • Apr 25
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥251 (up from JP¥168 in FY 2025). Revenue: JP¥18.6b (up 16% from FY 2025). Net income: JP¥2.64b (up 48% from FY 2025). Profit margin: 14% (up from 11% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Apr 24
Nippon Kodoshi Corporation, Annual General Meeting, Jun 24, 2026 Nippon Kodoshi Corporation, Annual General Meeting, Jun 24, 2026. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥5,150, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 185% over the past three years. 공시 • Apr 21
Nippon Kodoshi Corporation to Report Fiscal Year 2026 Results on Apr 24, 2026 Nippon Kodoshi Corporation announced that they will report fiscal year 2026 results on Apr 24, 2026 New Risk • Mar 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 June 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥4,060, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 126% over the past three years. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥72.44 (vs JP¥35.15 in 3Q 2025) Third quarter 2026 results: EPS: JP¥72.44 (up from JP¥35.15 in 3Q 2025). Revenue: JP¥4.54b (up 14% from 3Q 2025). Net income: JP¥764.0m (up 104% from 3Q 2025). Profit margin: 17% (up from 9.4% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. New Risk • Jan 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). 공시 • Dec 23
Nippon Kodoshi Corporation to Report Q3, 2026 Results on Jan 29, 2026 Nippon Kodoshi Corporation announced that they will report Q3, 2026 results on Jan 29, 2026 Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥61.25 (vs JP¥49.43 in 2Q 2025) Second quarter 2026 results: EPS: JP¥61.25 (up from JP¥49.43 in 2Q 2025). Revenue: JP¥4.70b (up 8.9% from 2Q 2025). Net income: JP¥646.0m (up 23% from 2Q 2025). Profit margin: 14% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,730, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 51% over the past three years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). 공시 • Sep 17
Nippon Kodoshi Corporation to Report Q2, 2026 Results on Oct 30, 2025 Nippon Kodoshi Corporation announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥56.67 (vs JP¥61.79 in 1Q 2025) First quarter 2026 results: EPS: JP¥56.67 (down from JP¥61.79 in 1Q 2025). Revenue: JP¥4.65b (up 19% from 1Q 2025). Net income: JP¥597.0m (down 9.1% from 1Q 2025). Profit margin: 13% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 20
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: JP¥168 (up from JP¥139 in FY 2024). Revenue: JP¥16.0b (up 8.1% from FY 2024). Net income: JP¥1.78b (up 20% from FY 2024). Profit margin: 11% (up from 10.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. 공시 • Jun 12
Nippon Kodoshi Corporation to Report Q1, 2026 Results on Jul 31, 2025 Nippon Kodoshi Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Apr 25
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: JP¥168 (up from JP¥139 in FY 2024). Revenue: JP¥16.0b (up 8.1% from FY 2024). Net income: JP¥1.78b (up 20% from FY 2024). Profit margin: 11% (up from 10.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% 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. 공시 • Apr 24
Nippon Kodoshi Corporation, Annual General Meeting, Jun 19, 2025 Nippon Kodoshi Corporation, Annual General Meeting, Jun 19, 2025. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.5b (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥14.5b market cap, or US$99.0m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,496, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 24% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). 공시 • Mar 18
Nippon Kodoshi Corporation (TSE:3891) announces an Equity Buyback for 120,000 shares, representing 1.13% for ¥240 million. Nippon Kodoshi Corporation (TSE:3891) announces a share repurchase program. Under the program, the company will repurchase up to 120,000 shares, representing 1.13% of its issued share capital (excluding treasury stock), for a total purchase price of ¥240 million. The shares will be repurchased at closing price of March 17, 2025. The purpose of the program is to enhance shareholder returns and improve capital efficiency. As of December 31, 2024, the company has 10,640,667 issued shares (excluding treasury stock) and 163,915 treasury shares. 공시 • Mar 08
Nippon Kodoshi Corporation to Report Fiscal Year 2025 Results on Apr 24, 2025 Nippon Kodoshi Corporation announced that they will report fiscal year 2025 results on Apr 24, 2025 Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥16.5b to JP¥16.0b. EPS estimate also fell from JP¥197 per share to JP¥169 per share. Net income forecast to grow 22% next year vs 13% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥3,000 to JP¥2,800. Share price fell 4.3% to JP¥1,812 over the past week. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: JP¥35.15 (vs JP¥23.51 in 3Q 2024) Third quarter 2025 results: EPS: JP¥35.15 (up from JP¥23.51 in 3Q 2024). Revenue: JP¥3.97b (up 14% from 3Q 2024). Net income: JP¥374.0m (up 50% from 3Q 2024). Profit margin: 9.4% (up from 7.2% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. 공시 • Dec 12
Nippon Kodoshi Corporation to Report Q3, 2025 Results on Jan 30, 2025 Nippon Kodoshi Corporation announced that they will report Q3, 2025 results on Jan 30, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥49.43 (vs JP¥47.21 in 2Q 2024) Second quarter 2025 results: EPS: JP¥49.43 (up from JP¥47.21 in 2Q 2024). Revenue: JP¥4.32b (up 14% from 2Q 2024). Net income: JP¥526.0m (up 4.8% from 2Q 2024). Profit margin: 12% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. 공시 • Sep 20
Nippon Kodoshi Corporation to Report Q2, 2025 Results on Oct 31, 2024 Nippon Kodoshi Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 03
First quarter 2025 earnings released: EPS: JP¥61.79 (vs JP¥55.87 in 1Q 2024) First quarter 2025 results: EPS: JP¥61.79 (up from JP¥55.87 in 1Q 2024). Revenue: JP¥3.90b (down 2.5% from 1Q 2024). Net income: JP¥657.0m (up 10% from 1Q 2024). Profit margin: 17% (up from 15% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 16% per year. New Risk • Aug 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.4% average weekly change). Major Estimate Revision • Aug 02
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥179 to JP¥207. Revenue forecast unchanged at JP¥16.0b. Net income forecast to grow 49% next year vs 12% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥2,700 to JP¥3,000. Share price was steady at JP¥2,150 over the past week. Buy Or Sell Opportunity • Jul 18
Now 23% undervalued Over the last 90 days, the stock has risen 18% to JP¥2,247. The fair value is estimated to be JP¥2,904, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Jun 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥139 (down from JP¥229 in FY 2023). Revenue: JP¥14.8b (down 16% from FY 2023). Net income: JP¥1.48b (down 40% from FY 2023). Profit margin: 10.0% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 15% per year. 공시 • Jun 23
Nippon Kodoshi Corporation to Report Q1, 2025 Results on Jul 31, 2024 Nippon Kodoshi Corporation announced that they will report Q1, 2025 results on Jul 31, 2024 Buy Or Sell Opportunity • May 29
Now 20% undervalued Over the last 90 days, the stock has risen 12% to JP¥2,000. The fair value is estimated to be JP¥2,509, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. 공시 • Apr 27
Nippon Kodoshi Corporation, Annual General Meeting, Jun 20, 2024 Nippon Kodoshi Corporation, Annual General Meeting, Jun 20, 2024. Price Target Changed • Apr 26
Price target increased by 8.0% to JP¥2,700 Up from JP¥2,500, the current price target is provided by 1 analyst. New target price is 37% above last closing price of JP¥1,976. Stock is up 0.2% over the past year. The company is forecast to post earnings per share of JP¥179 for next year compared to JP¥139 last year. Buy Or Sell Opportunity • Apr 26
Now 22% undervalued Over the last 90 days, the stock has risen 7.2% to JP¥1,976. The fair value is estimated to be JP¥2,547, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Apr 25
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥139 (down from JP¥229 in FY 2023). Revenue: JP¥14.8b (down 16% from FY 2023). Net income: JP¥1.48b (down 40% from FY 2023). Profit margin: 10.0% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 17% per year. Buy Or Sell Opportunity • Mar 27
Now 20% undervalued Over the last 90 days, the stock has risen 5.3% to JP¥1,855. The fair value is estimated to be JP¥2,324, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). 공시 • Mar 09
Nippon Kodoshi Corporation to Report Fiscal Year 2024 Results on Apr 24, 2024 Nippon Kodoshi Corporation announced that they will report fiscal year 2024 results on Apr 24, 2024 Buy Or Sell Opportunity • Mar 08
Now 21% undervalued Over the last 90 days, the stock has risen 4.6% to JP¥1,827. The fair value is estimated to be JP¥2,314, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥16.0b to JP¥15.0b. EPS estimate also fell from JP¥179 per share to JP¥151 per share. Net income forecast to grow 5.8% next year vs 11% growth forecast for Electronic industry in Japan. Consensus price target of JP¥2,500 unchanged from last update. Share price fell 6.8% to JP¥1,717 over the past week. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥23.51 (vs JP¥51.43 in 3Q 2023) Third quarter 2024 results: EPS: JP¥23.51 (down from JP¥51.43 in 3Q 2023). Revenue: JP¥3.48b (down 23% from 3Q 2023). Net income: JP¥250.0m (down 55% from 3Q 2023). Profit margin: 7.2% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Jan 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be JP¥2,217, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 4.7% in the next 2 years. 공시 • Dec 23
Nippon Kodoshi Corporation to Report Q3, 2024 Results on Jan 31, 2024 Nippon Kodoshi Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Buying Opportunity • Nov 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be JP¥2,274, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 4.7% in the next 2 years. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥47.21 (vs JP¥61.46 in 2Q 2023) Second quarter 2024 results: EPS: JP¥47.21 (down from JP¥61.46 in 2Q 2023). Revenue: JP¥3.80b (down 12% from 2Q 2023). Net income: JP¥502.0m (down 24% from 2Q 2023). Profit margin: 13% (down from 15% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥25.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). 공시 • Sep 14
Nippon Kodoshi Corporation to Report Q2, 2024 Results on Oct 31, 2023 Nippon Kodoshi Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Buying Opportunity • Aug 17
Now 22% undervalued Over the last 90 days, the stock is up 6.8%. The fair value is estimated to be JP¥2,725, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 16% in the next 2 years. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥55.87 (vs JP¥87.91 in 1Q 2023) First quarter 2024 results: EPS: JP¥55.87 (down from JP¥87.91 in 1Q 2023). Revenue: JP¥4.00b (down 15% from 1Q 2023). Net income: JP¥597.0m (down 37% from 1Q 2023). Profit margin: 15% (down from 20% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Jun 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥229 (down from JP¥271 in FY 2022). Revenue: JP¥17.6b (down 2.7% from FY 2022). Net income: JP¥2.47b (down 15% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 8.6%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. 공시 • Jun 26
Nippon Kodoshi Corporation to Report Q1, 2024 Results on Jul 31, 2023 Nippon Kodoshi Corporation announced that they will report Q1, 2024 results on Jul 31, 2023 Price Target Changed • May 07
Price target decreased by 17% to JP¥2,500 Down from JP¥3,000, the current price target is provided by 1 analyst. New target price is 26% above last closing price of JP¥1,991. Stock is down 2.1% over the past year. The company is forecast to post earnings per share of JP¥204 for next year compared to JP¥229 last year. Reported Earnings • Apr 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥229 (down from JP¥271 in FY 2022). Revenue: JP¥17.6b (down 2.7% from FY 2022). Net income: JP¥2.47b (down 15% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 8.6%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 33% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.6%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥51.43 (vs JP¥69.79 in 3Q 2022) Third quarter 2023 results: EPS: JP¥51.43 (down from JP¥69.79 in 3Q 2022). Revenue: JP¥4.51b (up 1.5% from 3Q 2022). Net income: JP¥554.0m (down 26% from 3Q 2022). Profit margin: 12% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. 공시 • Dec 18
Nippon Kodoshi Corporation to Report Q3, 2023 Results on Jan 31, 2023 Nippon Kodoshi Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Outside Audit & Supervisory Board Member Satoru Terada is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Takaaki Iwaki was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥61.46 (vs JP¥60.40 in 2Q 2022) Second quarter 2023 results: EPS: JP¥61.46 (up from JP¥60.40 in 2Q 2022). Revenue: JP¥4.31b (down 2.7% from 2Q 2022). Net income: JP¥662.0m (up 1.8% from 2Q 2022). Profit margin: 15% (in line with 2Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. 공시 • Sep 28
Nippon Kodoshi Corporation to Report Q2, 2023 Results on Oct 31, 2022 Nippon Kodoshi Corporation announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 8.8% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.6%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥87.91 (vs JP¥86.65 in 1Q 2022) First quarter 2023 results: EPS: JP¥87.91 (up from JP¥86.65 in 1Q 2022). Revenue: JP¥4.69b (flat on 1Q 2022). Net income: JP¥946.0m (up 1.5% from 1Q 2022). Profit margin: 20% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 5.9%, compared to a 9.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. 공시 • Jun 24
Nippon Kodoshi Corporation to Report Q1, 2023 Results on Jul 29, 2022 Nippon Kodoshi Corporation announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • Apr 28
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥271 (up from JP¥186 in FY 2021). Revenue: JP¥18.1b (up 14% from FY 2021). Net income: JP¥2.92b (up 46% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 2.4%, compared to a 8.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥3,000 Down from JP¥4,500, the current price target is provided by 1 analyst. New target price is 51% above last closing price of JP¥1,982. Stock is down 45% over the past year. The company is forecast to post earnings per share of JP¥260 for next year compared to JP¥186 last year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Outside Audit & Supervisory Board Member Satoru Terada is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Takaaki Iwaki was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 공시 • Apr 07
Nippon Kodoshi Corporation to Report Fiscal Year 2022 Results on Apr 26, 2022 Nippon Kodoshi Corporation announced that they will report fiscal year 2022 results on Apr 26, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (1.3%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥69.79 (up from JP¥50.39 in 3Q 2021). Revenue: JP¥4.45b (flat on 3Q 2021). Net income: JP¥751.0m (up 39% from 3Q 2021). Profit margin: 17% (up from 12% in 3Q 2021). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to stay flat compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Dec 02
Consensus EPS estimates fall to JP¥251 The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from JP¥18.0b to JP¥17.7b. EPS estimate also fell from JP¥284 to JP¥251. Net income forecast to shrink 6.3% next year vs 12% growth forecast for Electronic industry in Japan . Consensus price target down from JP¥4,500 to JP¥3,000. Share price fell 7.2% to JP¥2,564 over the past week. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥3,695, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 38% over the past three years. Reported Earnings • Aug 04
First quarter 2022 earnings released: EPS JP¥86.65 (vs JP¥43.32 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥4.69b (up 25% from 1Q 2021). Net income: JP¥932.0m (up 100% from 1Q 2021). Profit margin: 20% (up from 12% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥4,085, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 42% over the past three years. Reported Earnings • Jun 21
Full year 2021 earnings released: EPS JP¥186 (vs JP¥64.24 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥15.9b (up 22% from FY 2020). Net income: JP¥2.01b (up 190% from FY 2020). Profit margin: 13% (up from 5.3% 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 30% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 01
Consensus revenue estimates increase to JP¥18.0b The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from JP¥16.0b to JP¥18.0b. EPS estimate increased from JP¥186 to JP¥232 per share. Net income forecast to shrink 0.3% next year vs 21% growth forecast for Electronic industry in Japan . Consensus price target up from JP¥2,844 to JP¥3,200. Share price rose 18% to JP¥3,810 over the past week. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥3,730, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥3,610, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 49% over the past three years. Reported Earnings • Apr 25
Full year 2021 earnings released: EPS JP¥186 (vs JP¥64.24 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥15.9b (up 22% from FY 2020). Net income: JP¥2.01b (up 190% from FY 2020). Profit margin: 13% (up from 5.3% 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 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.1%). 공시 • Mar 04
Nippon Kodoshi Corporation to Report Fiscal Year 2021 Results on May 14, 2021 Nippon Kodoshi Corporation announced that they will report fiscal year 2021 results on May 14, 2021 Is New 90 Day High Low • Mar 01
New 90-day high: JP¥3,415 The company is up 48% from its price of JP¥2,314 on 01 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 2.0% over the same period.