New Risk • May 28
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risks High level of debt (68% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥15.1b market cap, or US$94.6m). Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,230, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 186% over the past three years. Aankondiging • May 11
Techno Horizon Co.,Ltd. to Report Fiscal Year 2026 Results on May 08, 2026 Techno Horizon Co.,Ltd. announced that they will report fiscal year 2026 results on May 08, 2026 Reported Earnings • May 09
Full year 2026 earnings released: EPS: JP¥183 (vs JP¥45.71 loss in FY 2025) Full year 2026 results: EPS: JP¥183 (up from JP¥45.71 loss in FY 2025). Revenue: JP¥51.4b (up 1.5% from FY 2025). Net income: JP¥2.46b (up JP¥3.08b from FY 2025). Profit margin: 4.8% (up from net loss in FY 2025). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. The company is not currently making a profit but it is 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 • Jan 24
Third quarter 2026 earnings released: EPS: JP¥29.60 (vs JP¥38.81 in 3Q 2025) Third quarter 2026 results: EPS: JP¥29.60 (down from JP¥38.81 in 3Q 2025). Revenue: JP¥12.0b (down 4.2% from 3Q 2025). Net income: JP¥399.0m (down 24% from 3Q 2025). Profit margin: 3.3% (down from 4.2% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Aankondiging • Dec 24
Techno Horizon Co.,Ltd. to Report Q3, 2026 Results on Jan 23, 2026 Techno Horizon Co.,Ltd. announced that they will report Q3, 2026 results on Jan 23, 2026 Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥666, the stock trades at a trailing P/E ratio of 76.7x. Average trailing P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥503, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 15x in the Electronic industry in Japan. Total returns to shareholders of 4.5% over the past three years. New Risk • Oct 27
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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.5% operating cash flow to total debt). Earnings have declined by 31% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (138% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (JP¥6.91b market cap, or US$45.3m). Reported Earnings • Oct 25
Second quarter 2026 earnings released: EPS: JP¥44.15 (vs JP¥4.23 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥44.15 (up from JP¥4.23 loss in 2Q 2025). Revenue: JP¥12.4b (flat on 2Q 2025). Net income: JP¥595.0m (up JP¥652.0m from 2Q 2025). Profit margin: 4.8% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Aankondiging • Sep 09
Techno Horizon Co.,Ltd. to Report Q2, 2026 Results on Oct 24, 2025 Techno Horizon Co.,Ltd. announced that they will report Q2, 2026 results on Oct 24, 2025 Reported Earnings • Jul 28
First quarter 2026 earnings released: JP¥10.24 loss per share (vs JP¥16.25 loss in 1Q 2025) First quarter 2026 results: JP¥10.24 loss per share (improved from JP¥16.25 loss in 1Q 2025). Revenue: JP¥10.5b (down 6.4% from 1Q 2025). Net loss: JP¥138.0m (loss narrowed 37% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Aankondiging • Jun 21
Techno Horizon Co.,Ltd. to Report Q1, 2026 Results on Jul 25, 2025 Techno Horizon Co.,Ltd. announced that they will report Q1, 2026 results on Jul 25, 2025 Reported Earnings • May 12
Full year 2025 earnings released: JP¥32.28 loss per share (vs JP¥74.28 profit in FY 2024) Full year 2025 results: JP¥32.28 loss per share (down from JP¥74.28 profit in FY 2024). Revenue: JP¥50.6b (up 4.1% from FY 2024). Net loss: JP¥435.0m (down 144% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Aankondiging • May 09
Techno Horizon Co.,Ltd., Annual General Meeting, Jun 27, 2025 Techno Horizon Co.,Ltd., Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥349, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 45% over the past three years. Aankondiging • Mar 25
Techno Horizon Co.,Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 Techno Horizon Co.,Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). New Risk • Feb 16
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 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 28% per year over the past 5 years. 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 (5.1% average weekly change). Market cap is less than US$100m (JP¥5.61b market cap, or US$36.8m). Reported Earnings • Jan 27
Third quarter 2025 earnings released: EPS: JP¥38.81 (vs JP¥23.74 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥38.81 (up from JP¥23.74 loss in 3Q 2024). Revenue: JP¥12.5b (up 12% from 3Q 2024). Net income: JP¥523.0m (up JP¥843.0m from 3Q 2024). Profit margin: 4.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Aankondiging • Dec 19
Techno Horizon Co.,Ltd. to Report Q3, 2025 Results on Jan 24, 2025 Techno Horizon Co.,Ltd. announced that they will report Q3, 2025 results on Jan 24, 2025 Reported Earnings • Oct 26
Second quarter 2025 earnings released: JP¥4.23 loss per share (vs JP¥36.80 profit in 2Q 2024) Second quarter 2025 results: JP¥4.23 loss per share (down from JP¥36.80 profit in 2Q 2024). Revenue: JP¥12.3b (down 1.6% from 2Q 2024). Net loss: JP¥57.0m (down 112% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. New Risk • Sep 12
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 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Earnings have declined by 34% per year over the past 5 years. 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 (8.3% average weekly change). Market cap is less than US$100m (JP¥5.16b market cap, or US$36.1m). Aankondiging • Sep 06
Techno Horizon Co.,Ltd. to Report Q2, 2025 Results on Oct 25, 2024 Techno Horizon Co.,Ltd. announced that they will report Q2, 2025 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥386, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 13x in the Electronic industry in Japan. Total loss to shareholders of 69% over the past three years. Buy Or Sell Opportunity • Aug 01
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to JP¥412. The fair value is estimated to be JP¥535, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jul 28
First quarter 2025 earnings released: JP¥16.25 loss per share (vs JP¥15.06 loss in 1Q 2024) First quarter 2025 results: JP¥16.25 loss per share (further deteriorated from JP¥15.06 loss in 1Q 2024). Revenue: JP¥11.2b (up 3.9% from 1Q 2024). Net loss: JP¥219.0m (loss widened 7.9% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Board Change • Jul 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director MD Anis Uzzaman 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 • Jun 23
Techno Horizon Co.,Ltd. to Report Q1, 2025 Results on Jul 26, 2024 Techno Horizon Co.,Ltd. announced that they will report Q1, 2025 results on Jul 26, 2024 Aankondiging • May 15
Techno Horizon Co.,Ltd., Annual General Meeting, Jun 27, 2024 Techno Horizon Co.,Ltd., Annual General Meeting, Jun 27, 2024. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥74.28 (vs JP¥115 loss in FY 2023) Full year 2024 results: EPS: JP¥74.28 (up from JP¥115 loss in FY 2023). Revenue: JP¥48.6b (up 11% from FY 2023). Net income: JP¥1.00b (up JP¥2.55b from FY 2023). Profit margin: 2.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 14
Techno Horizon Co.,Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Techno Horizon Co.,Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥500, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 14x in the Electronic industry in Japan. Total loss to shareholders of 50% over the past three years. Reported Earnings • Jan 26
Third quarter 2024 earnings released: JP¥23.74 loss per share (vs JP¥98.69 loss in 3Q 2023) Third quarter 2024 results: JP¥23.74 loss per share (improved from JP¥98.69 loss in 3Q 2023). Revenue: JP¥11.1b (up 4.2% from 3Q 2023). Net loss: JP¥320.0m (loss narrowed 76% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Aankondiging • Dec 23
Techno Horizon Co.,Ltd. to Report Q3, 2024 Results on Jan 25, 2024 Techno Horizon Co.,Ltd. announced that they will report Q3, 2024 results on Jan 25, 2024 Reported Earnings • Oct 27
Second quarter 2024 earnings released: EPS: JP¥36.80 (vs JP¥3.12 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥36.80 (up from JP¥3.12 loss in 2Q 2023). Revenue: JP¥12.5b (up 12% from 2Q 2023). Net income: JP¥496.0m (up JP¥538.0m from 2Q 2023). Profit margin: 4.0% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 28
Techno Horizon Co.,Ltd. to Report Q2, 2024 Results on Oct 25, 2023 Techno Horizon Co.,Ltd. announced that they will report Q2, 2024 results on Oct 25, 2023 Reported Earnings • Jul 27
First quarter 2024 earnings released: JP¥15.06 loss per share (vs JP¥30.57 loss in 1Q 2023) First quarter 2024 results: JP¥15.06 loss per share (improved from JP¥30.57 loss in 1Q 2023). Revenue: JP¥10.8b (up 38% from 1Q 2023). Net loss: JP¥203.0m (loss narrowed 51% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Aankondiging • May 28
Techno Horizon Co.,Ltd. to Report Q1, 2024 Results on Jul 25, 2023 Techno Horizon Co.,Ltd. announced that they will report Q1, 2024 results on Jul 25, 2023 Aankondiging • May 13
Techno Horizon Co.,Ltd., Annual General Meeting, Jun 29, 2023 Techno Horizon Co.,Ltd., Annual General Meeting, Jun 29, 2023. Reported Earnings • May 12
Full year 2023 earnings released: JP¥115 loss per share (vs JP¥25.45 profit in FY 2022) Full year 2023 results: JP¥115 loss per share (down from JP¥25.45 profit in FY 2022). Revenue: JP¥43.8b (up 27% from FY 2022). Net loss: JP¥1.55b (down JP¥1.90b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 26
Third quarter 2023 earnings released: JP¥98.69 loss per share (vs JP¥7.94 profit in 3Q 2022) Third quarter 2023 results: JP¥98.69 loss per share (down from JP¥7.94 profit in 3Q 2022). Revenue: JP¥10.7b (up 13% from 3Q 2022). Net loss: JP¥1.33b (down JP¥1.44b from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 53% 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 • Nov 27
Techno Horizon Co.,Ltd. to Report Q3, 2023 Results on Jan 25, 2023 Techno Horizon Co.,Ltd. announced that they will report Q3, 2023 results on Jan 25, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. 1 independent director (9 non-independent directors). Independent External Director Yojiro Koshihara was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 27
Second quarter 2023 earnings released: JP¥3.12 loss per share (vs JP¥19.59 profit in 2Q 2022) Second quarter 2023 results: JP¥3.12 loss per share (down from JP¥19.59 profit in 2Q 2022). Revenue: JP¥11.2b (up 37% from 2Q 2022). Net loss: JP¥42.0m (down 116% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Aankondiging • Aug 31
Techno Horizon Co.,Ltd. to Report Q2, 2023 Results on Oct 25, 2022 Techno Horizon Co.,Ltd. announced that they will report Q2, 2023 results on Oct 25, 2022 Reported Earnings • Jul 26
First quarter 2023 earnings released: JP¥30.57 loss per share (vs JP¥29.24 loss in 1Q 2022) First quarter 2023 results: JP¥30.57 loss per share (down from JP¥29.24 loss in 1Q 2022). Revenue: JP¥7.83b (up 34% from 1Q 2022). Net loss: JP¥412.0m (loss widened 4.6% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Aankondiging • Jun 29
Techno Horizon Co.,Ltd. to Report Q1, 2023 Results on Jul 25, 2022 Techno Horizon Co.,Ltd. announced that they will report Q1, 2023 results on Jul 25, 2022 Aankondiging • May 12
Techno Horizon Co.,Ltd., Annual General Meeting, Jun 29, 2022 Techno Horizon Co.,Ltd., Annual General Meeting, Jun 29, 2022. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥25.45 (down from JP¥159 in FY 2021). Revenue: JP¥34.5b (up 30% from FY 2021). Net income: JP¥343.0m (down 84% from FY 2021). Profit margin: 1.0% (down from 8.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 66%. Over the next year, revenue is forecast to grow 16%, compared to a 8.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥490, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 35% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 1 independent director (9 non-independent directors). Independent External Director Yojiro Koshihara was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Apr 08
Techno Horizon Co.,Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Techno Horizon Co.,Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥714, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 92% over the past three years. Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: JP¥7.94 (down from JP¥59.51 in 3Q 2021). Revenue: JP¥9.48b (up 55% from 3Q 2021). Net income: JP¥107.0m (down 87% from 3Q 2021). Profit margin: 1.1% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) missed analyst estimates by 77%. Over the next year, revenue is forecast to grow 15%, 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 34% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥19.59 (vs JP¥10.76 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥8.17b (up 52% from 2Q 2021). Net income: JP¥264.0m (up 82% from 2Q 2021). Profit margin: 3.2% (up from 2.7% 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 44% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 31
Techno Horizon Co.,Ltd. (JASDAQ:6629) signed contract to acquire Apollo Seiko Ltd. from Askum Partners Co., Ltd., Wang Hsin-Li and others for ¥1.8 billion. Techno Horizon Co.,Ltd. (JASDAQ:6629) signed contract to acquire Apollo Seiko Ltd. from Askum Partners Co., Ltd., Wang Hsin-Li and others for ¥1.8 billion on August 30, 2021. As per the transaction, Techno Horizon Co.,Ltd. will acquire 0.36 million shares. Post completion, Apollo Seiko Ltd. will become wholly owned subsidiary of Techno Horizon Co.,Ltd. For the financial year ending February 28, 2021, Apollo Seiko Ltd. has reported total sales of ¥1.27 billion, net assets of ¥2.08 billion, total assets of ¥3.02 billion and operating income of ¥169 million. The Board of Directors has passed the resolution for the transaction. Completion is planned on September 10, 2021. Techno Horizon Co.,Ltd. shall pay advisory fee of ¥120 million. Reported Earnings • Aug 03
First quarter 2022 earnings released: JP¥29.24 loss per share (vs JP¥8.24 loss in 1Q 2021) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: JP¥5.83b (up 33% from 1Q 2021). Net loss: JP¥394.0m (loss widened 255% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 42% per year. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorated over the past week After last week's 29% share price decline to JP¥1,414, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 233% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 23% share price gain to JP¥2,021, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electronic industry in Japan. Total returns to shareholders of 262% over the past three years. Aankondiging • May 13
Techno Horizon Co.,Ltd. (JASDAQ:6629) completed the acquisition of PACIFIC TECH Group from PANG ONG CHIN and WOO CHUNG BOON. Techno Horizon Co.,Ltd. (JASDAQ:6629) entered into contract to acquire PACIFIC TECH Group from PANG ONG CHIN and WOO CHUNG BOON for ¥2.2 billion on April 26, 2021. Under the terms of the transaction, Techno Horizon will acquire 100% stake in Pacific Tech Pte. Ltd., Pactech Msp Pte. Ltd., Pacific Intech Distribution Sdn. Bhd. and 49% stake in Pacific Tech (Thailand) Co., Ltd. As a result of the transaction, PACIFIC TECH Group will become a subsidiary of Techno Horizon. As at December 31, 2020, PACIFIC TECH Group had total assets of ¥2.3 billion and net worth of ¥1.28 billion. For the year ended December 31, 2020, PACIFIC TECH Group had revenues of ¥4.8 billion and net income of ¥345 million. The transaction was resolved at the Board of Directors meeting on April 26, 2021. The transaction is expected to close on May 12, 2021.
Techno Horizon Co.,Ltd. (JASDAQ:6629) completed the acquisition of PACIFIC TECH Group from PANG ONG CHIN and WOO CHUNG BOON on May 12, 2021. Reported Earnings • May 13
Full year 2021 earnings released: EPS JP¥159 (vs JP¥97.87 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥26.5b (up 18% from FY 2020). Net income: JP¥2.15b (up 63% from FY 2020). Profit margin: 8.1% (up from 5.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 24% share price gain to JP¥1,492, 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 83% over the past three years. Aankondiging • Apr 27
Techno Horizon Co.,Ltd. (JASDAQ:6629) entered into contract to acquire PACIFIC TECH Group from PANG ONG CHIN and WOO CHUNG BOON for ¥2.2 billion. Techno Horizon Co.,Ltd. (JASDAQ:6629) entered into contract to acquire PACIFIC TECH Group from PANG ONG CHIN and WOO CHUNG BOON for ¥2.2 billion on April 26, 2021. Under the terms of the transaction, Techno Horizon will acquire 100% stake in Pacific Tech Pte. Ltd., Pactech Msp Pte. Ltd., Pacific Intech Distribution Sdn. Bhd. and 49% stake in Pacific Tech (Thailand) Co., Ltd. As a result of the transaction, PACIFIC TECH Group will become a subsidiary of Techno Horizon. As at December 31, 2020, PACIFIC TECH Group had total assets of ¥2.3 billion and net worth of ¥1.28 billion. For the year ended December 31, 2020, PACIFIC TECH Group had revenues of ¥4.8 billion and net income of ¥345 million. The transaction was resolved at the Board of Directors meeting on April 26, 2021. The transaction is expected to close on May 12, 2021. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥1,299, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 73% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥1,171, the stock trades at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 10.6x. Average P/E is 17x in the Electronic industry in Japan. Total returns to shareholders over the past three years are 52%. Is New 90 Day High Low • Mar 15
New 90-day high: JP¥1,171 The company is up 57% from a price of JP¥747 on 15 December 2020. Outperformed the Japanese market which is up 9.0% over the last 90 days. Exceeded the Electronic industry, which is up 4.0% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥59.51 (vs JP¥11.72 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.12b (up 11% from 3Q 2020). Net income: JP¥802.0m (up 408% from 3Q 2020). Profit margin: 13% (up from 2.9% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 9.3%. Earnings per share (EPS) missed analyst estimates by 5.8%. Over the next year, revenue is forecast to grow 18%, compared to a 7.1% growth forecast for the Electronic industry in Japan. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥977, the stock is trading at a trailing P/E ratio of 22.4x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 19x in the Electronic industry in Japan. Total returns to shareholders over the past three years are 26%. Is New 90 Day High Low • Feb 01
New 90-day high: JP¥921 The company is up 39% from its price of JP¥661 on 02 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. Aankondiging • Jan 14
Techno Horizon Co.,Ltd. to Report Q3, 2021 Results on Jan 29, 2021 Techno Horizon Co.,Ltd. announced that they will report Q3, 2021 results on Jan 29, 2021 Valuation Update With 7 Day Price Move • Nov 06
Market pulls back on stock over the past week After last week's 15% share price decline to JP¥686, the stock is trading at a trailing P/E ratio of 15.7x, down from the previous P/E ratio of 18.6x. This compares to an average P/E of 18x in the Electronic industry in Japan. Total returns to shareholders over the past three years are 56%. Is New 90 Day High Low • Nov 02
New 90-day low: JP¥661 The company is down 20% from its price of JP¥829 on 04 August 2020. The Japanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period. Analyst Estimate Surprise Post Earnings • Nov 01
Semi-annual earnings released: Revenue misses expectations Semi-annual revenue missed analyst estimates by 8.8% at JP¥9.75b. Revenue is forecast to grow 14% over the next year, compared to a 2.0% growth forecast for the Electronic industry in Japan. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of JP¥589.0m, down 60% from the prior year. Total revenue was JP¥20.6b over the last 12 months, down 8.1% from the prior year.