New Risk • Jun 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 German stocks, typically moving 13% 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 (13% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (8.4% net profit margin). Aankondiging • May 30
TOWA Corporation to Report Q1, 2027 Results on Aug 06, 2026 TOWA Corporation announced that they will report Q1, 2027 results on Aug 06, 2026 Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €16.52, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 42x in the Semiconductor industry in Germany. Total returns to shareholders of 218% over the past three years. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Outside Director Motoko Tanaka was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • May 11
TOWA Corporation, Annual General Meeting, Jun 26, 2026 TOWA Corporation, Annual General Meeting, Jun 26, 2026. Aankondiging • Apr 03
TOWA Corporation to Report Fiscal Year 2026 Results on May 11, 2026 TOWA Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 11, 2026 Aankondiging • Nov 29
TOWA Corporation to Report Q3, 2026 Results on Feb 06, 2026 TOWA Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Aankondiging • Sep 01
TOWA Corporation to Report Q2, 2026 Results on Nov 07, 2025 TOWA Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Aankondiging • Jun 03
TOWA Corporation to Report Q1, 2026 Results on Aug 07, 2025 TOWA Corporation announced that they will report Q1, 2026 results at 3:00 PM, Tokyo Standard Time on Aug 07, 2025 Aankondiging • May 09
TOWA Corporation, Annual General Meeting, Jun 27, 2025 TOWA Corporation, Annual General Meeting, Jun 27, 2025. Aankondiging • Mar 04
TOWA Corporation to Report Fiscal Year 2025 Results on May 09, 2025 TOWA Corporation announced that they will report fiscal year 2025 results on May 09, 2025 Aankondiging • Feb 28
TOWA Corporation Announces Executive Changes, Effective April 1, 2025 TOWA Corporation announced that it resolved the following change of President, at the board of directors meeting on February 27, 2025. Details of Change: Name: Hirokazu Okada; Current Title: Representative Director, President & CEO; New Title: Representative Director, Chairman & CEO. Name: Muneo Miura; Current Title: Director, Executive Officer (Chief Operating Officer, Marketing and Sales Division and Singulation Business Division), Marketing and Sales Division Manager; New Title: Director, President Executive Officer, Marketing and Sales Division Manager. Summary of experience of New President: Name: Muneo Miura; Date of birth: August 1, 1969 (55 years old); Summary of experience: October 1990, Joined the TOWA CORPORATION; December 1997 External assignment to TOWA Asia-Pacific Pte.Ltd.; April 2015 Department Manager of Sales Engineering Dept., Marketing and Sales Div.; April 2016, Department Manager of Global Sales Dept., Marketing and Sales Div.; April 2018, Division Manager of Marketing and Sales Div. Executive Officer, Division Manager of Marketing and Sales Div.; June 2022, Director, Executive Officer, Chief Operating Officer of Marketing and Sales Div., Division Manager of Marketing and Sales Div.; January 2024, Director, Executive Officer, Chief Operating Officer of Marketing and Sales Div. and Singulation Business Div., Division Manager of Marketing and Sales Div. Schedule Date of Change is April 1, 2025. Aankondiging • Dec 03
TOWA Corporation to Report Q3, 2025 Results on Feb 06, 2025 TOWA Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €9.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 15% over the past three years. Declared Dividend • Nov 10
Dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 187%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €14.00, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 152% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €38.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Semiconductor industry in Germany. Total returns to shareholders of 82% over the past three years. Aankondiging • Aug 29
Towa Corporation Revises Dividend Forecast for the Fiscal Year Ending March 31, 2025 In conjunction with the stock split, TOWA Corporation has revised the year-end dividend forecast for the fiscal year ending March 31, 2025, which was announced on August 8, 2024, as follows. The company now expects dividend of JPY 20.00 per share as compared to the previous dividend forecast of JPY 60.00 per share. Aankondiging • Aug 28
TOWA Corporation to Report Q2, 2025 Results on Nov 07, 2024 TOWA Corporation announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥67.60 (vs JP¥31.26 in 1Q 2024) First quarter 2025 results: EPS: JP¥67.60 (up from JP¥31.26 in 1Q 2024). Revenue: JP¥13.3b (up 39% from 1Q 2024). Net income: JP¥1.69b (up 116% from 1Q 2024). Profit margin: 13% (up from 8.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €43.00, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 133% over the past three years. Buy Or Sell Opportunity • Jul 01
Now 28% undervalued The stock has been flat over the last 90 days, currently trading at €62.00. The fair value is estimated to be €85.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 3.8%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Buy Or Sell Opportunity • Jun 19
Now 20% undervalued Over the last 90 days, the stock has risen 16% to €65.00. The fair value is estimated to be €81.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 3.8%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Aankondiging • Jun 02
TOWA Corporation to Report Q1, 2025 Results on Aug 08, 2024 TOWA Corporation announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥258 (vs JP¥294 in FY 2023) Full year 2024 results: EPS: JP¥258 (down from JP¥294 in FY 2023). Revenue: JP¥50.5b (down 6.2% from FY 2023). Net income: JP¥6.44b (down 12% from FY 2023). Profit margin: 13% (in line with FY 2023). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 07
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to €64.00. The fair value is estimated to be €51.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 128% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €54.00, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 251% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €50.90 per share. Buy Or Sell Opportunity • Apr 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 57% to €62.50. The fair value is estimated to be €50.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 122% in the next 2 years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.2%). Buy Or Sell Opportunity • Mar 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to €60.50. The fair value is estimated to be €50.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 122% in the next 2 years. Aankondiging • Mar 05
TOWA Corporation, Annual General Meeting, Jun 27, 2024 TOWA Corporation, Annual General Meeting, Jun 27, 2024. Agenda: To consider the appointment of director. Aankondiging • Mar 02
TOWA Corporation to Report Fiscal Year 2024 Results on May 10, 2024 TOWA Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Buy Or Sell Opportunity • Mar 02
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to €63.00. The fair value is estimated to be €48.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 48% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €55.00, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Semiconductor industry in Germany. Total returns to shareholders of 277% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €51.45 per share. Aankondiging • Feb 09
Towa Corporation Provides Dividend Guidance for the Year Ending March 31, 2024 TOWA Corporation provides dividend guidance for the year ending March 31, 2024. For the year-end, company expects dividend of JPY 40.00 per share compared to JPY 40.00 per share a year ago. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥46.16 (vs JP¥34.49 in 3Q 2023) Third quarter 2024 results: EPS: JP¥46.16 (up from JP¥34.49 in 3Q 2023). Revenue: JP¥10.8b (down 5.5% from 3Q 2023). Net income: JP¥1.15b (up 34% from 3Q 2023). Profit margin: 11% (up from 7.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €48.80, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 18x in the Semiconductor industry in Germany. Total returns to shareholders of 239% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €51.27 per share. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €39.80, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 166% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.50 per share. Buying Opportunity • Jan 06
Now 24% undervalued Over the last 90 days, the stock is up 44%. The fair value is estimated to be €52.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 124% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €47.40, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 258% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €56.43 per share. Buying Opportunity • Dec 05
Now 20% undervalued Over the last 90 days, the stock is up 77%. The fair value is estimated to be €55.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 41% in 2 years. Earnings is forecast to grow by 116% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €47.40, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Semiconductor industry in Germany. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.31 per share. Aankondiging • Nov 29
TOWA Corporation to Report Q3, 2024 Results on Feb 07, 2024 TOWA Corporation announced that they will report Q3, 2024 results on Feb 07, 2024 Buying Opportunity • Nov 20
Now 22% undervalued Over the last 90 days, the stock is up 118%. The fair value is estimated to be €53.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 39% in 2 years. Earnings is forecast to grow by 105% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €43.20, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total returns to shareholders of 233% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €54.30 per share. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥47.02 (vs JP¥96.39 in 2Q 2023) Second quarter 2024 results: EPS: JP¥47.02 (down from JP¥96.39 in 2Q 2023). Revenue: JP¥11.8b (down 17% from 2Q 2023). Net income: JP¥1.18b (down 51% from 2Q 2023). Profit margin: 10.0% (down from 17% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €30.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Semiconductor industry in Germany. Total returns to shareholders of 220% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €24.78 per share. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €30.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 214% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.17 per share. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €25.40, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 191% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.51 per share. Aankondiging • Aug 31
TOWA Corporation to Report Q2, 2024 Results on Nov 08, 2023 TOWA Corporation announced that they will report Q2, 2024 results on Nov 08, 2023 Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €22.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €25.61 per share. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥31.26 (vs JP¥94.25 in 1Q 2023) First quarter 2024 results: EPS: JP¥31.26 (down from JP¥94.25 in 1Q 2023). Revenue: JP¥9.51b (down 35% from 1Q 2023). Net income: JP¥782.0m (down 67% from 1Q 2023). Profit margin: 8.2% (down from 16% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jul 28
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 German stocks, typically moving 6.8% 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 Dividend is not well covered by cash flows (dividend per share is over 10x cash flows per share). Share price has been volatile over the past 3 months (6.8% average weekly change). Aankondiging • Jun 01
TOWA Corporation to Report Q1, 2024 Results on Aug 08, 2023 TOWA Corporation announced that they will report Q1, 2024 results on Aug 08, 2023 Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €17.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Semiconductor industry in Germany. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.15 per share. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥294 (vs JP¥325 in FY 2022) Full year 2023 results: EPS: JP¥294 (down from JP¥325 in FY 2022). Revenue: JP¥53.8b (up 6.2% from FY 2022). Net income: JP¥7.35b (down 9.6% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 12
Now 20% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be €17.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 71%. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to grow by 15% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥34.49 (vs JP¥98.81 in 3Q 2022) Third quarter 2023 results: EPS: JP¥34.49 (down from JP¥98.81 in 3Q 2022). Revenue: JP¥11.4b (down 18% from 3Q 2022). Net income: JP¥863.0m (down 65% from 3Q 2022). Profit margin: 7.6% (down from 18% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 30
TOWA Corporation to Report Q3, 2023 Results on Feb 07, 2023 TOWA Corporation announced that they will report Q3, 2023 results on Feb 07, 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, 1 was an independent director. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent External Director Miho Goto was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥96.39 (vs JP¥86.65 in 2Q 2022) Second quarter 2023 results: EPS: JP¥96.39 (up from JP¥86.65 in 2Q 2022). Revenue: JP¥14.2b (up 15% from 2Q 2022). Net income: JP¥2.41b (up 11% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 31
TOWA Corporation to Report Q2, 2023 Results on Nov 09, 2022 TOWA Corporation announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: JP¥94.25 (vs JP¥79.09 in 1Q 2022) First quarter 2023 results: EPS: JP¥94.25 (up from JP¥79.09 in 1Q 2022). Revenue: JP¥14.6b (up 22% from 1Q 2022). Net income: JP¥2.36b (up 19% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 6.8%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 19
TOWA Corporation to Report Q1, 2023 Results on Aug 08, 2022 TOWA Corporation announced that they will report Q1, 2023 results on Aug 08, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥325 (vs JP¥106 in FY 2021) Full year 2022 results: EPS: JP¥325 (up from JP¥106 in FY 2021). Revenue: JP¥50.7b (up 71% from FY 2021). Net income: JP¥8.13b (up 205% from FY 2021). Profit margin: 16% (up from 9.0% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.8%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent External Director Miho Goto was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 08
TOWA Corporation to Report Fiscal Year 2022 Results on May 12, 2022 TOWA Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 5.3% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.6%). In line with average of industry peers (1.0%). Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥98.81 (up from JP¥35.27 in 3Q 2021). Revenue: JP¥14.0b (up 78% from 3Q 2021). Net income: JP¥2.47b (up 180% from 3Q 2021). Profit margin: 18% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.4%. Over the next year, revenue is forecast to grow 16%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 40% share price gain to €28.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 30x in the Semiconductor industry in Germany. Total returns to shareholders of 440% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.22 per share. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥86.65 (vs JP¥27.31 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥12.4b (up 74% from 2Q 2021). Net income: JP¥2.17b (up 217% from 2Q 2021). Profit margin: 18% (up from 9.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 15% share price gain to €22.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 35x in the Semiconductor industry in Germany. Total returns to shareholders of 211% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €39.81 per share. Reported Earnings • Aug 14
First quarter 2022 earnings released: EPS JP¥79.09 (vs JP¥8.24 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥12.0b (up 107% from 1Q 2021). Net income: JP¥1.98b (up JP¥1.77b from 1Q 2021). Profit margin: 17% (up from 3.6% 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 27% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥17.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 32x in the Semiconductor industry in Germany. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €32.38 per share. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥106 (vs JP¥14.72 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥29.7b (up 18% from FY 2020). Net income: JP¥2.66b (up JP¥2.30b from FY 2020). Profit margin: 9.0% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (0.7%). Aankondiging • Mar 11
TOWA Corporation to Report Fiscal Year 2021 Results on May 13, 2021 TOWA Corporation announced that they will report fiscal year 2021 results on May 13, 2021 Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥35.27 (vs JP¥11.20 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥7.85b (up 9.6% from 3Q 2020). Net income: JP¥882.0m (up 215% from 3Q 2020). Profit margin: 11% (up from 3.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue misses expectations Revenue missed analyst estimates by 5.0%. Over the next year, revenue is forecast to grow 16%, compared to a 16% growth forecast for the Semiconductor industry in Germany. Is New 90 Day High Low • Jan 14
New 90-day high: €17.50 The company is up 81% from its price of €9.65 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.20 per share. 
