TSE:2445Trade Distributors
Takamiya (TSE:2445) Profit Rebound Contrasts With Emerging Margin Pressure
Takamiya walked into this earnings day with a construction services story that looked simple. The stock traded at ¥419 and a P/E of 9.8x, slightly below both an estimated fair value and the trade distributors industry average, while offering a 3.82% dividend yield. The thesis was that investors were being paid to wait.
The headline from Q1 2027 is margin pressure. Quarterly net income sat at ¥239 million on revenue of ¥10,229 million, a clear step down from the previous quarter’s...