Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥8,437, 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 82% over the past three years. Aankondiging • Jul 10
JEOL Ltd. to Report Q1, 2027 Results on Aug 14, 2026 JEOL Ltd. announced that they will report Q1, 2027 results on Aug 14, 2026 Board Change • Jun 15
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. 4 non-independent directors. Independent Outside Director Akihiro Takao was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 19
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: JP¥433 (up from JP¥366 in FY 2025). Revenue: JP¥179.4b (down 8.8% from FY 2025). Net income: JP¥22.1b (up 18% from FY 2025). Profit margin: 12% (up from 9.5% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic industry in Japan. 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 16% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 18
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 7.0% 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 (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.5% net profit margin). Aankondiging • May 15
JEOL Ltd., Annual General Meeting, Jun 25, 2026 JEOL Ltd., Annual General Meeting, Jun 25, 2026. Aankondiging • May 10
JEOL Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 JEOL Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥53.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 36% and the cash payout ratio is 76%. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥149 (down from JP¥176 in 3Q 2025). Revenue: JP¥47.7b (down 2.8% from 3Q 2025). Net income: JP¥7.64b (down 15% from 3Q 2025). Profit margin: 16% (down from 18% in 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 84%. Revenue is forecast to grow 1.6% 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 increased by 4% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 02
JEOL Ltd. (TSE:6951) announces an Equity Buyback for 2,500,000 shares, representing 4.88% for ¥12,870 million. JEOL Ltd. (TSE:6951) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 4.88% of its issued share capital, for ¥12,870 million. Shares will be repurchased at a price of ¥5,148 per share. Under the offer the company will repurchase 2,300,000 shares from Nikon Corporation. The purpose of the program is returning profits to shareholders and to enable the agile implementation of capital policies in response to changes in the business environment. If the number of tendered shares exceed the number of shares to be purchased then the actual number of shares purchased may exceed the number of shares to be purchased as a result of unit adjustment on a pro rata basis. The offer is valid till March 4, 2026. As of September 30, 2025, the company had 51,181,974 shares (excluding treasury shares) and 350,826 shares in treasury. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥5,931, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 66% over the past three years. Declared Dividend • Dec 16
First half dividend of JP¥53.00 announced Shareholders will receive a dividend of JP¥53.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 2.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Dec 06
JEOL Ltd. to Report Q3, 2026 Results on Feb 13, 2026 JEOL Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: JP¥101 (down from JP¥137 in 2Q 2025). Revenue: JP¥41.9b (down 18% from 2Q 2025). Net income: JP¥5.18b (down 26% from 2Q 2025). Profit margin: 12% (down from 14% in 2Q 2025). Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.4% 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 fallen by 3% per year, which means it is significantly lagging earnings. Aankondiging • Sep 26
JEOL Ltd. to Report Q2, 2026 Results on Nov 14, 2025 JEOL Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥53.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 09 December 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Aug 15
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥91.30 (up from JP¥76.26 in 1Q 2025). Revenue: JP¥40.1b (up 10% from 1Q 2025). Net income: JP¥4.67b (up 20% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Revenue exceeded analyst estimates by 9.4%. Earnings per share (EPS) also surpassed analyst estimates by 56%. Revenue is forecast to grow 2.0% 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 increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 25
Price target decreased by 7.9% to JP¥6,400 Down from JP¥6,950, the current price target is an average from 5 analysts. New target price is 48% above last closing price of JP¥4,331. Stock is down 23% over the past year. The company is forecast to post earnings per share of JP¥363 for next year compared to JP¥366 last year. Declared Dividend • Jul 09
Final dividend of JP¥53.00 announced Shareholders will receive a dividend of JP¥53.00. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥366 (down from JP¥425 in FY 2024). Revenue: JP¥196.7b (up 13% from FY 2024). Net income: JP¥18.7b (down 14% from FY 2024). Profit margin: 9.5% (down from 12% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 3.0% 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 increased by 21% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Jun 27
JEOL Ltd. to Report Q1, 2026 Results on Aug 13, 2025 JEOL Ltd. announced that they will report Q1, 2026 results on Aug 13, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥366 (down from JP¥425 in FY 2024). Revenue: JP¥196.7b (up 13% from FY 2024). Net income: JP¥18.7b (down 14% from FY 2024). Profit margin: 9.5% (down from 12% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 2.6% 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 increased by 21% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 17
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥204.0b to JP¥187.4b. EPS estimate also fell from JP¥519 per share to JP¥444 per share. Net income forecast to shrink 30% next year vs 10% growth forecast for Electronic industry in Japan . Consensus price target down from JP¥8,075 to JP¥6,950. Share price fell 12% to JP¥4,178 over the past week. Price Target Changed • May 16
Price target decreased by 7.7% to JP¥7,450 Down from JP¥8,075, the current price target is an average from 4 analysts. New target price is 78% above last closing price of JP¥4,185. Stock is down 36% over the past year. The company is forecast to post earnings per share of JP¥503 for next year compared to JP¥425 last year. Aankondiging • May 15
JEOL Ltd., Annual General Meeting, Jun 26, 2025 JEOL Ltd., Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥48.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Aankondiging • Mar 15
JEOL Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 JEOL Ltd. announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 13
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥176 (up from JP¥51.49 in 3Q 2024). Revenue: JP¥49.1b (up 29% from 3Q 2024). Net income: JP¥9.02b (up 243% from 3Q 2024). Profit margin: 18% (up from 6.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Revenue is forecast to grow 3.1% 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 increased by 29% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Dec 04
JEOL Ltd. to Report Q3, 2025 Results on Feb 12, 2025 JEOL Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Aankondiging • Nov 26
JEOL Ltd. (TSE:6951) agreed to acquire an additional majority stake in Japan Superconductor Technology, Inc. from Kobe Steel, Ltd. (TSE:5406). JEOL Ltd. (TSE:6951) agreed to acquire an additional majority stake in Japan Superconductor Technology, Inc. from Kobe Steel, Ltd. (TSE:5406) on November 22, 2024. Post the closing of the transaction, Kobe Steel will not hold any stake in Japan Superconductor Technology.
For the period ending March 31, 2024, Japan Superconductor Technology, Inc. reported total revenue of ¥4.14 billion.
The expected completion of the transaction is January 6, 2025. Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥137 (up from JP¥113 in 2Q 2024). Revenue: JP¥50.9b (up 27% from 2Q 2024). Net income: JP¥7.02b (up 21% from 2Q 2024). Profit margin: 14% (in line with 2Q 2024). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 4.0% 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 increased by 30% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 30
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at JP¥5,804. The fair value is estimated to be JP¥4,692, 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 35%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Aankondiging • Sep 27
JEOL Ltd. to Report Q2, 2025 Results on Nov 08, 2024 JEOL Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Buy Or Sell Opportunity • Sep 26
Now 20% overvalued Over the last 90 days, the stock has fallen 23% to JP¥5,629. The fair value is estimated to be JP¥4,689, 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 35%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥5,539, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,731 per share. Aankondiging • Sep 04
JEOL Ltd. Announces the Release of the New CROSS SECTION POLISHER IB-19540CP / COOLING CROSS SECTION POLISHER IB-19550CCP for Electron Microscopes JEOL Ltd. announced the release of the New CROSS SECTION POLISHER IB-19540CP /COOLING CROSS SECTION POLISHER IB-19550CCP for Electron Microscopes on September 4, 2024. CROSS SECTION POLISHER™(CP)is widely utilized in the fields of electronic parts, ceramics, life science, metal, battery, and polymer. The mechanical high-quality uniform cross section can be easily prepared for complex materials and fragile specimens. With a sales record of over 2,000 units since its launch in 2003, the CP has been an essential tool for pre-treatment. The IB-19540CP /IB-19550CCP have been advanced with enhanced user-friendliness. Incorporation of the new GUI and IoT (Internet of Things) further improves ease of use and enables remote control and milling process monitoring by PC. High throughput ion source and high throughput cooling system enable preparation of a smooth cross section rapidly with less damages. Main features: New GUI and Internet of Things (IoT) - Incorporation of a new GUI makes the operation steps easy to understand. Easy setup is possible by following the flowchart on the control panel. Preset functions are available for saving and recalling process conditions tailored to specific applications or specimen types. Connecting to LAN provides remote access and control through a web browser to the CP. Monitoring and adjusting the milling process over multiple CPs is possible. High throughput ion source: High throughput ion source is equipped as a standard. The ion current density has been improved by optimizing the ion-source electrode and increasing the accelerating voltage. The standard cross section milling rate is now 1,200 µm/h and it will help reduce the time required for processing. Milling of 1 h, Si equivalent, Edge distance: 100 µm. High throughput cooling system: The high throughput cooling system and the new GUI enable automatic operation from cooling to return to room temperature. Thus, the waiting time has been reduced and it helps shorten the time required for work. It is possible to vacuum around the liquid nitrogen tank from the CP side to maintain cooling retention time and specimen cooling temperature. Annual Unit Sales Target - 180 units/year. Reported Earnings • Aug 18
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥76.26 (up from JP¥33.76 in 1Q 2024). Revenue: JP¥36.4b (up 27% from 1Q 2024). Net income: JP¥3.90b (up 126% from 1Q 2024). Profit margin: 11% (up from 6.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 90%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥6,212, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 7.6% over the past three years. Aankondiging • Jul 31
JEOL Ltd. Announces New Schottky Field Emission Scanning Electron Microscope JSM-IT810 Released JEOL Ltd. announced the release of the new Schottky Field Emission Scanning Electron Microscope JSM-IT810 on July 28, 2024. Field Emission Scanning Electron Microscopes (FESEM) are widely used in science and technology fields such as research institutes, universities, and industry. There is a growing demand for an instrument that can be used easily, accurately, quickly, and efficiently from observation to analysis. The JSM-IT810 adds the "Neo Action" automatic observation and analysis function and automatic calibration function to the JSM-IT800, which is equipped with the next-generation electron optical control system “Neo Engine” and the “SEM Center” for high operability such as Zeromag and EDS integration, to not only improve efficiency and productivity but also help solve labor shortages. Main Features: 1. Automatic Observation and Analysis Function “Neo Action”: All you need to do is select the SEM image acquisition conditions and field of view, and the function automatically performs SEM observation and EDS (energy dispersive X-ray spectroscopy) analysis. This function contributes to improving the efficiency of routine work including analysis work. 2. Automatic Calibration Function “SEM Automatic Adjustment Package”: This function enables automatic execution of the selected items in alignment adjustment, magnification adjustment, and EDS energy calibration. 3. “Live Function”: This function is capable of Live 3D, Live Analysis, and Live Map functions. 3D images can be constructed on the spot while an SEM observation is being performed to obtain unevenness and depth information. In addition, it helps always display characteristic X-ray spectrum and elemental mapping. 4. EDS Integration: Observation by an SEM and analysis by an EDS are integrated. Analysis of point, area, and MAP can be performed from the observation screen. Incorporation of the Windowless EDS-Gather-X enables detection from Li and analysis at a high sensitivity and high spatial resolution. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥5,650, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electronic industry in Japan. Total loss to shareholders of 17% over the past three years. Aankondiging • May 30
JEOL Ltd. Announces the Release of the New Electron Microscope JEM-120i JEOL Ltd. announced the release of the new electron microscope JEM-120i developed with the concepts of “Compact”, “Easy To Use”, and “Expandable” on May 30, 2024. Electron microscopes are utilized in a wide range of fields from biotechnology to nano technology, polymers, and advanced materials. With the expansion of application, usages are also expanding, which requires a tool that is easy-to-use for research and testing purposes. To satisfy such needs, the JEM-120i has evolved into a next-generation microscope that is easy to use, from operation to maintenance, for both beginner and experienced users. Compact: The JEM-120i adopts a totally new appearance and compact design that fits any installation location. The footprint has been reduced by more than 50%, and the volume occupied by the instrument is less than one-third of that of conventional models, enabling effective use of space. The instrument height is lower than 1,800mm, which fits just about any installation room. Easy to Use: The enhanced TEM control system and fully automated apertures eliminated the need for switching the magnification mode and selecting an aperture. The JEM-120i provides seamless observations from low to high magnification. It takes only 4 steps from loading a specimen to completing an observation. After inserting the specimen holder, clicking the Start Button automatically performs observation preparation operations such as voltage increase and emission start. A wide area image is captured at the same time, and clicking the target field of view will complete the stage movement. Standard “Butler mode” assists data acquisition. Even a beginner can capture data easily. Expandable: In addition to the standard multi-function camera, a bottom-mount camera of higher pixel count can be selected as an option. Attachments such as the scanning image observation function (STEM), elemental analysis function (EDS), and cryo observation function can be applied, regardless of instrument configuration. The instrument can be expanded at any time to meet the changing needs of microscopy over time. The proven scripting function (PyJEM) with the high-end models, can create an algorithm for automation. The automation can increase the utilization rate of the instrument and improve data output efficiency. Main Specifications: Resolution- 0.2 nm (HC), 0.14 nm (HR). Accelerating voltage- 20-120kV. Magnification- 50-1,200,000 (HC), 50-1,500,000 (HR). Standard camera- JEOL CMOS camera (NeoView) 4M pixel, 30fps. Field of view search/adjustment/recording. Optional camera- JEOL CMOS camera (SightSKY) 19M pixel, 58fps. Cameras made by other companies can also be mounted. Main unit dimensions: W 840mm/D 1,734mm/H 1,782mm. Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥425 (up from JP¥349 in FY 2023). Revenue: JP¥174.3b (up 7.2% from FY 2023). Net income: JP¥21.7b (up 22% from FY 2023). Profit margin: 12% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • May 16
JEOL Ltd., Annual General Meeting, Jun 26, 2024 JEOL Ltd., Annual General Meeting, Jun 26, 2024. Aankondiging • May 15
JEOL Ltd. Announces Resignation of Gon-Emon Kurihara as Chairman JEOL Ltd. announced the resignation of Gon-emon Kurihara as chairman of the company due to expiration of term. New Risk • Apr 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 6.4% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥41.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.9%). Aankondiging • Mar 02
JEOL Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 JEOL Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥51.48 (down from JP¥118 in 3Q 2023). Revenue: JP¥38.2b (down 11% from 3Q 2023). Net income: JP¥2.63b (down 56% from 3Q 2023). Profit margin: 6.9% (down from 14% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Japan. 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 16% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 26
Now 21% undervalued Over the last 90 days, the stock has risen 63% to JP¥6,952. The fair value is estimated to be JP¥8,747, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥7,322, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Medical Equipment industry in Japan. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,739 per share. Price Target Changed • Dec 02
Price target increased by 7.3% to JP¥6,856 Up from JP¥6,390, the current price target is an average from 5 analysts. New target price is 16% above last closing price of JP¥5,891. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥376 for next year compared to JP¥349 last year. Aankondiging • Nov 27
JEOL Ltd. to Report Q3, 2024 Results on Feb 09, 2024 JEOL Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥113 (up from JP¥78.63 in 2Q 2023). Revenue: JP¥40.0b (up 12% from 2Q 2023). Net income: JP¥5.79b (up 44% from 2Q 2023). Profit margin: 14% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 117%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment 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 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥5,025, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Medical Equipment industry in Japan. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,046 per share. New Risk • Nov 01
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 6.3% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥33.00 per share at 1.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Aankondiging • Aug 31
JEOL Ltd. to Report Q2, 2024 Results on Nov 10, 2023 JEOL Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: JP¥33.76 (down from JP¥63.03 in 1Q 2023). Revenue: JP¥28.7b (flat on 1Q 2023). Net income: JP¥1.72b (down 46% from 1Q 2023). Profit margin: 6.0% (down from 11% in 1Q 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 19%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 07
Price target increased by 11% to JP¥6,050 Up from JP¥5,463, the current price target is an average from 4 analysts. New target price is 24% above last closing price of JP¥4,867. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥321 for next year compared to JP¥349 last year. Aankondiging • Jun 03
JEOL Ltd. to Report Q1, 2024 Results on Aug 10, 2023 JEOL Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥4,855, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Medical Equipment industry in Japan. Total returns to shareholders of 51% over the past three years. Reported Earnings • May 16
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥349 (up from JP¥247 in FY 2022). Revenue: JP¥162.7b (up 18% from FY 2022). Net income: JP¥17.8b (up 45% from FY 2022). Profit margin: 11% (up from 8.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 2.4%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment 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 8% per year, which means it is significantly lagging earnings growth. Aankondiging • May 14
JEOL Ltd., Annual General Meeting, Jun 28, 2023 JEOL Ltd., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: JP¥118 (up from JP¥71.86 in 3Q 2022). Revenue: JP¥43.0b (up 15% from 3Q 2022). Net income: JP¥6.04b (up 65% from 3Q 2022). Profit margin: 14% (up from 9.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 24%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment 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 3% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 01
JEOL Ltd. Announces its Launch of the FIB-SEM system “JIB-PS500i” JEOL Ltd. announced its launch of the FIB-SEM system “JIB-PS500i” on February 1, 2023. With the finer structure of advanced materials and advancing complexity of processes, evaluation techniques such as morphological observation and elemental analysis require higher resolution and precision. In the preparation of samples for transmission electron microscopes (TEM) in the semiconductor industry as well as in the battery and materials fields, "higher precision" and "thinner sample" are required. This product is a combined system of the FIB (Focused Ion Beam) system that can process with high accuracy and the SEM (scanning electron microscope) of high resolution to satisfy these needs. Main Features: The FIB column enables processing with a large-current Ga ion beam up to 100nA. The high-current processing is particularly effective in preparing cross section samples for large-area imaging and analysis. In addition, the FIB column is set to a shorter working distance. Along with a newly-developed power supply, it has led to greatly improved processing performance at a low accelerating voltage. A newly-developed super conical lens system is built into the SEM column, greatly improving the image resolution at a low accelerating voltage. This superb imaging is very useful to check the end-point milling status of lamella specimen using the SEM. The JIB-PS500i adopts a large specimen chamber and a newly-developed specimen stage, increasing the stage movement range, and thus accommodating a large specimen. In addition, a newly-developed STEM detector that can be used with the stage tilt at 90 degrees, allows for a seamless transition from the TEM specimen preparation to STEM observation. For the operating GUI, the “SEM center”, which has been well received in the JSM-IT800 series of high-resolution scanning electron microscopes is employed, enabling full integration of EDS analysis. A double tilt cartridge and a dedicated TEM holder allows for more precise alignment while making specimen transfer between TEM and FIB easier. Price Target Changed • Nov 30
Price target decreased to JP¥6,888 Down from JP¥7,750, the current price target is an average from 4 analysts. New target price is 50% above last closing price of JP¥4,580. Stock is down 50% over the past year. The company is forecast to post earnings per share of JP¥346 for next year compared to JP¥247 last year. Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: JP¥78.63 (up from JP¥59.59 in 2Q 2022). Revenue: JP¥35.9b (up 21% from 2Q 2022). Net income: JP¥4.01b (up 38% from 2Q 2022). Profit margin: 11% (up from 9.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. 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 21% per year, which means it is significantly lagging earnings growth.