Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €27.00, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 249% over the past three years. Aankondiging • Jul 01
Nippon Chemi-Con Corporation announced that it has received ¥9 billion in funding from Development Bank of Japan Inc. On June 29, 2026, Nippon Chemi-Con Corporation closed the transaction. The transaction has been carried out by third-party allotment. New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (26% increase in shares outstanding). Aankondiging • Jun 23
Nippon Chemi-Con Corporation to Report Q1, 2027 Results on Aug 07, 2026 Nippon Chemi-Con Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €25.00, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 24x in the Electronic industry in Germany. Total returns to shareholders of 200% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €15.60, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 23x in the Electronic industry in Germany. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.17 per share. Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥106 (vs JP¥1.73 in FY 2025) Full year 2026 results: EPS: JP¥106 (up from JP¥1.73 in FY 2025). Revenue: JP¥136.8b (up 12% from FY 2025). Net income: JP¥2.37b (up JP¥2.33b from FY 2025). Profit margin: 1.7% (up from 0% in FY 2025). Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 8.9% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • May 20
Less than half of directors are independent There are 7 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: 7 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Chairman & Executive Officer Norio Kamiyama is the most experienced director on the board, commencing their role in 2018. Independent Outside Director Tomomi Nakano was the last independent director to join the board, commencing their role in 2025. 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. Aankondiging • May 14
Nippon Chemi-Con Corporation, Annual General Meeting, Jun 26, 2026 Nippon Chemi-Con Corporation, Annual General Meeting, Jun 26, 2026. Aankondiging • Mar 28
Nippon Chemi-Con Corporation announced that it expects to receive ¥9 billion in funding from Development Bank of Japan Inc. Nippon Chemi-Con Corporation announces private placement with Development Bank of Japan Inc. to issue 6,000 Class C Preferred Shares at a price of ¥1,000,000 per share for gross proceeds of ¥6,000,000,000 and 3,000 Class D preferred shares at a price of ¥1,000,000 for gross proceeds ¥3,000,000,000 for aggregate proceeds of ¥9,000,000,000 on March 27, 2026. Payment date is June 29, 2026. Estimated Issuance Expenses are ¥233,000,000. Aankondiging • Mar 26
Nippon Chemi-Con Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Nippon Chemi-Con Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 14, 2026 Aankondiging • Dec 19
Nippon Chemi-Con Corporation to Report Q3, 2026 Results on Feb 09, 2026 Nippon Chemi-Con Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Aankondiging • Sep 11
Nippon Chemi-Con Corporation to Report Q2, 2026 Results on Nov 06, 2025 Nippon Chemi-Con Corporation announced that they will report Q2, 2026 results at 3:30 PM, Tokyo Standard Time on Nov 06, 2025 Aankondiging • Jun 11
Nippon Chemi-Con Corporation to Report Q1, 2026 Results on Aug 06, 2025 Nippon Chemi-Con Corporation announced that they will report Q1, 2026 results on Aug 06, 2025 Aankondiging • May 13
Nippon Chemi-Con Corporation, Annual General Meeting, Jun 27, 2025 Nippon Chemi-Con Corporation, Annual General Meeting, Jun 27, 2025. Aankondiging • Mar 12
Nippon Chemi-Con Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Nippon Chemi-Con Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Aankondiging • Dec 13
Nippon Chemi-Con Corporation to Report Q3, 2025 Results on Feb 10, 2025 Nippon Chemi-Con Corporation announced that they will report Q3, 2025 results on Feb 10, 2025 New Risk • Nov 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Board Change • Nov 05
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. President, CEO & Representative Director Norio Kamiyama is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Sep 12
Nippon Chemi-Con Corporation to Report Q2, 2025 Results on Nov 05, 2024 Nippon Chemi-Con Corporation announced that they will report Q2, 2025 results on Nov 05, 2024 New Risk • Aug 09
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 6.7% 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 Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Aankondiging • Jun 14
Nippon Chemi-Con Corporation to Report Q1, 2025 Results on Aug 07, 2024 Nippon Chemi-Con Corporation announced that they will report Q1, 2025 results at 3:00 PM, Tokyo Standard Time on Aug 07, 2024 Reported Earnings • May 12
Full year 2024 earnings released: JP¥1,029 loss per share (vs JP¥112 profit in FY 2023) Full year 2024 results: JP¥1,029 loss per share (down from JP¥112 profit in FY 2023). Revenue: JP¥150.7b (down 6.9% from FY 2023). Net loss: JP¥21.3b (down JP¥23.6b from profit in FY 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Aankondiging • May 12
Nippon Chemi-Con Corporation, Annual General Meeting, Jun 27, 2024 Nippon Chemi-Con Corporation, Annual General Meeting, Jun 27, 2024. Aankondiging • Mar 16
Nippon Chemi-Con Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Nippon Chemi-Con Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥30.70 (vs JP¥127 in 3Q 2023) Third quarter 2024 results: EPS: JP¥30.70 (down from JP¥127 in 3Q 2023). Revenue: JP¥35.7b (down 17% from 3Q 2023). Net income: JP¥640.0m (down 75% from 3Q 2023). Profit margin: 1.8% (down from 6.0% in 3Q 2023). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. Aankondiging • Dec 10
Nippon Chemi-Con Corporation to Report Q3, 2024 Results on Feb 07, 2024 Nippon Chemi-Con Corporation announced that they will report Q3, 2024 results on Feb 07, 2024 New Risk • Nov 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-JP¥29b). Shareholders have been diluted in the past year (8.0% increase in shares outstanding). New Risk • Nov 12
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -JP¥29b This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 09
Second quarter 2024 earnings released: JP¥442 loss per share (vs JP¥87.14 profit in 2Q 2023) Second quarter 2024 results: JP¥442 loss per share (down from JP¥87.14 profit in 2Q 2023). Revenue: JP¥39.2b (up 1.6% from 2Q 2023). Net loss: JP¥8.95b (down JP¥10.7b from profit in 2Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Aankondiging • Sep 15
Nippon Chemi-Con Corporation to Report Q2, 2024 Results on Nov 08, 2023 Nippon Chemi-Con Corporation announced that they will report Q2, 2024 results at 3:00 PM, Tokyo Standard Time on Nov 08, 2023 Aankondiging • Aug 23
Nippon Chemi-Con Corporation and United Chemi-Con, Inc. Proposes Settlement Totaling CAD $21.3M Reached in Electrolytic & Film Capacitor Class Actions proposed national settlement totaling CAD 21,300,000 for the benefit of class members has been reached in class actions alleging price fixing and related conduct on behalf of Canadians who purchased electrolytic and film capacitors and products containing electrolytic and film capacitors. Nippon Chemi-Con Corporation and United Chemi-Con, Inc. (collectively the "Settling Defendants") have collectively agreed to pay CAD 20,900,000 for the benefit of Electrolytic Settlement Class Members, and CAD 400,000 for the benefit of Film Settlement Class Members. To be a member of these class actions, one must have purchased an aluminum and tantalum electrolytic capacitor or a product containing an aluminum and tantalum electrolytic capacitor between September 1, 1997 and December 31, 2014 or have purchased a film capacitor or a product containing a film capacitor between January 1, 2002 and December 31, 2014. In addition, the Settling Defendants have agreed to provide cooperation to the plaintiffs in pursuing their claims against the non-settling defendants. The settlements are not admissions of liability, fault, or wrongdoing, but are compromises of disputed claims. The settlements must be approved by the courts before they become effective. Because the class actions are still ongoing and other settlements may be reached, the settlement amounts will not be distributed to class members at this time. A process for the payment of claims to class members, which is subject to court approval and will be on further notice to the class, will be put in place later. Reported Earnings • Aug 04
First quarter 2024 earnings released: JP¥682 loss per share (vs JP¥112 loss in 1Q 2023) First quarter 2024 results: JP¥682 loss per share (further deteriorated from JP¥112 loss in 1Q 2023). Revenue: JP¥41.1b (up 7.0% from 1Q 2023). Net loss: JP¥13.8b (loss widened JP¥11.5b from 1Q 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Valuation Update With 7 Day Price Move • May 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €9.90, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 16x in the Electronic industry in Germany. Total loss to shareholders of 19% over the past year. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥112 (vs JP¥598 loss in FY 2022) Full year 2023 results: EPS: JP¥112 (up from JP¥598 loss in FY 2022). Revenue: JP¥161.9b (up 15% from FY 2022). Net income: JP¥2.27b (up JP¥14.4b from FY 2022). Profit margin: 1.4% (up from net loss in FY 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Germany. Aankondiging • May 12
Nippon Chemi-Con Corporation, Annual General Meeting, Jun 29, 2023 Nippon Chemi-Con Corporation, Annual General Meeting, Jun 29, 2023. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: JP¥127 (vs JP¥797 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥127 (up from JP¥797 loss in 3Q 2022). Revenue: JP¥42.9b (up 19% from 3Q 2022). Net income: JP¥2.57b (up JP¥18.7b from 3Q 2022). Profit margin: 6.0% (up from net loss in 3Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Aankondiging • Dec 21
Nippon Chemi-Con Corporation to Report Q3, 2023 Results on Feb 06, 2023 Nippon Chemi-Con Corporation announced that they will report Q3, 2023 results on Feb 06, 2023 Board Change • Nov 16
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. 3 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Sr. Managing Exec. Officer, CQO, Div. Manager-Quality Assurance HQ & Production Sys. HQ & Director Yoshifumi Minegishi is the most experienced director on the board, commencing their role in 2014. Outside Independent Audit & Supervisory Board Member Masaaki Doi was the last independent director to join the board, commencing their role in 2022. 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 09
Second quarter 2023 earnings released: EPS: JP¥87.14 (vs JP¥48.57 in 2Q 2022) Second quarter 2023 results: EPS: JP¥87.14 (up from JP¥48.57 in 2Q 2022). Revenue: JP¥38.6b (up 17% from 2Q 2022). Net income: JP¥1.77b (up 79% from 2Q 2022). Profit margin: 4.6% (up from 3.0% in 2Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Aankondiging • Sep 24
Nippon Chemi-Con Corporation to Report Q2, 2023 Results on Nov 07, 2022 Nippon Chemi-Con Corporation announced that they will report Q2, 2023 results on Nov 07, 2022 Reported Earnings • Aug 05
First quarter 2023 earnings released: JP¥112 loss per share (vs JP¥74.56 profit in 1Q 2022) First quarter 2023 results: JP¥112 loss per share (down from JP¥74.56 profit in 1Q 2022). Revenue: JP¥38.4b (up 15% from 1Q 2022). Net loss: JP¥2.28b (down 251% from profit in 1Q 2022). Over the next year, revenue is forecast to grow 5.6%, compared to a 21% growth forecast for the industry in Germany. Aankondiging • Jun 23
Nippon Chemi-Con Corporation to Report Q1, 2023 Results on Aug 04, 2022 Nippon Chemi-Con Corporation announced that they will report Q1, 2023 results on Aug 04, 2022 Aankondiging • May 12
Nippon Chemi-Con Corporation, Annual General Meeting, Jun 29, 2022 Nippon Chemi-Con Corporation, Annual General Meeting, Jun 29, 2022. Reported Earnings • May 11
Full year 2022 earnings released: JP¥598 loss per share (vs JP¥115 profit in FY 2021) Full year 2022 results: JP¥598 loss per share (down from JP¥115 profit in FY 2021). Revenue: JP¥140.3b (up 27% from FY 2021). Net loss: JP¥12.1b (down JP¥14.2b from profit in FY 2021). Over the next year, revenue is forecast to grow 3.0%, compared to a 27% growth forecast for the industry in Germany. Board Change • Apr 29
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, 1 was an independent director. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Sr. Managing Exec. Officer, CQO, Div. Manager-Quality Assurance HQ & Production Sys. HQ & Director Yoshifumi Minegishi is the most experienced director on the board, commencing their role in 2014. Independent Outside Director Suzuko Miyata 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. Aankondiging • Apr 08
Nippon Chemi-Con Corporation to Report Fiscal Year 2022 Results on May 10, 2022 Nippon Chemi-Con Corporation announced that they will report fiscal year 2022 results on May 10, 2022 Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: JP¥797 loss per share (down from JP¥38.10 profit in 3Q 2021). Revenue: JP¥36.0b (up 30% from 3Q 2021). Net loss: JP¥16.2b (down JP¥16.9b from profit in 3Q 2021). Revenue exceeded analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 3.3%, compared to a 23% growth forecast for the industry in Germany. Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: JP¥797 loss per share (down from JP¥38.10 profit in 3Q 2021). Revenue: JP¥36.0b (up 30% from 3Q 2021). Net loss: JP¥16.2b (down JP¥16.9b from profit in 3Q 2021). Revenue exceeded analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 3.3%, compared to a 23% growth forecast for the industry in Germany. Reported Earnings • Nov 05
Second quarter 2022 earnings released: EPS JP¥48.57 (vs JP¥28.16 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥33.1b (up 17% from 2Q 2021). Net income: JP¥985.0m (up 115% from 2Q 2021). Profit margin: 3.0% (up from 1.6% in 2Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥16.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 24x in the Electronic industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €24.76 per share. Reported Earnings • Aug 11
First quarter 2022 earnings released: EPS JP¥74.55 (vs JP¥37.65 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥33.4b (up 40% from 1Q 2021). Net income: JP¥1.51b (up JP¥2.13b from 1Q 2021). Profit margin: 4.5% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥18.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 25x in the Electronic industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €25.07 per share. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥15.80, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electronic industry in Germany. Reported Earnings • May 12
Full year 2021 earnings released: EPS JP¥115 (vs JP¥364 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥110.8b (down 3.3% from FY 2020). Net income: JP¥2.04b (up JP¥7.96b from FY 2020). Profit margin: 1.8% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Aankondiging • Mar 14
Nippon Chemi-Con Corporation to Report Fiscal Year 2021 Results on May 10, 2021 Nippon Chemi-Con Corporation announced that they will report fiscal year 2021 results on May 10, 2021