Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior Executive Officer, GM of Planning HQ, Tyre Business HQ & Director Masahiro Tsuzaki was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 12
Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 26, 2026 Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 26, 2026. Announcement • Nov 12
Sumitomo Rubber Industries, Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2025 Sumitomo Rubber Industries, Ltd. revised consolidated earnings guidance for the fiscal year ending December 31, 2025. For the full year, the company expects sales revenue of JPY 1,200,000 million against previous forecast of JPY 1,215,000 million, operating profit of JPY 84,000 million against previous forecast of JPY 84,000 million, profit attributable to owners of parent of JPY 45,000 million against previous forecast of JPY 45,000 million. Basic profit per share expected to be JPY 171.16. Announcement • Sep 03
Sumitomo Rubber Industries, Ltd. to Report Q3, 2025 Results on Nov 12, 2025 Sumitomo Rubber Industries, Ltd. announced that they will report Q3, 2025 results on Nov 12, 2025 Announcement • Aug 30
Sumitomo Rubber Industries, Ltd. (TSE:5110) signed an acquisition agreement to acquire remaining majority stake in Viaduct, Inc. from a group of shareholders for approximately $100 million. Sumitomo Rubber Industries, Ltd. (TSE:5110) signed an acquisition agreement to acquire remaining majority stake in Viaduct, Inc. from a group of shareholders for approximately $100 million on August 27, 2025. A cash consideration of $104 million (approximately ¥15.3 billion) will be paid by Sumitomo Rubber Industries, Ltd. The acquisition accelerate the global expansion of Sumitomo's predictive maintenance services for fleet vehicles, enhance Sumitomo's Sensing Core services, which are compatible with next-generation vehicles. Sumitomo will integrate Viaduct’s AI technology with Sumitomo’s tire expertise and SENSING CORE technology. Announcement • May 31
Sumitomo Rubber Industries, Ltd. to Report Q2, 2025 Results on Aug 07, 2025 Sumitomo Rubber Industries, Ltd. announced that they will report Q2, 2025 results on Aug 07, 2025 Announcement • Mar 28
Sumitomo Rubber Industries, Ltd. to Report Q1, 2025 Results on May 15, 2025 Sumitomo Rubber Industries, Ltd. announced that they will report Q1, 2025 results on May 15, 2025 Announcement • Feb 13
Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 27, 2025 Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 27, 2025. Announcement • Dec 03
Sumitomo Rubber Industries, Ltd. to Report Fiscal Year 2024 Results on Feb 06, 2025 Sumitomo Rubber Industries, Ltd. announced that they will report fiscal year 2024 results on Feb 06, 2025 New Risk • Nov 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 36% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (100% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: JP¥52.80 (vs JP¥15.93 in 2Q 2023) Second quarter 2024 results: EPS: JP¥52.80 (up from JP¥15.93 in 2Q 2023). Revenue: JP¥295.7b (up 4.0% from 2Q 2023). Net income: JP¥13.9b (up 232% from 2Q 2023). Profit margin: 4.7% (up from 1.5% in 2Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 09
First half dividend of JP¥29.00 announced Shareholders will receive a dividend of JP¥29.00. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 360%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.9% over the next 3 years. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range. New Risk • Aug 06
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 7.3% 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: 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 (7.3% average weekly change). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: JP¥94.45 (vs JP¥15.23 in 1Q 2023) First quarter 2024 results: EPS: JP¥94.45 (up from JP¥15.23 in 1Q 2023). Revenue: JP¥291.4b (up 5.3% from 1Q 2023). Net income: JP¥24.8b (up JP¥20.8b from 1Q 2023). Profit margin: 8.5% (up from 1.4% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Declared Dividend • Apr 11
Final dividend of JP¥29.00 announced Shareholders will receive a dividend of JP¥29.00. Ex-date: 27th June 2024 Payment date: 5th September 2024 Dividend yield will be 257%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: JP¥141 (vs JP¥35.80 in FY 2022) Full year 2023 results: EPS: JP¥141 (up from JP¥35.80 in FY 2022). Revenue: JP¥1.18t (up 7.2% from FY 2022). Net income: JP¥37.0b (up 294% from FY 2022). Profit margin: 3.1% (up from 0.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Feb 14
Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 28, 2024 Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥40.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 March 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: JP¥72.27 (vs JP¥10.70 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥72.27 (up from JP¥10.70 loss in 3Q 2022). Revenue: JP¥289.5b (up 7.5% from 3Q 2022). Net income: JP¥19.0b (up JP¥21.8b from 3Q 2022). Profit margin: 6.6% (up from net loss in 3Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Auto Components industry in Germany. 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 8% per year, which means it is well ahead of earnings. New Risk • Aug 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 21x earnings per share. Cash payout ratio: 116% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.04% net profit margin). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: JP¥15.93 (vs JP¥20.66 in 2Q 2022) Second quarter 2023 results: EPS: JP¥15.93 (down from JP¥20.66 in 2Q 2022). Revenue: JP¥284.4b (up 8.7% from 2Q 2022). Net income: JP¥4.19b (down 23% from 2Q 2022). Profit margin: 1.5% (down from 2.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: JP¥15.23 (vs JP¥44.69 in 1Q 2022) First quarter 2023 results: EPS: JP¥15.23 (down from JP¥44.69 in 1Q 2022). Revenue: JP¥276.8b (up 11% from 1Q 2022). Net income: JP¥4.01b (down 66% from 1Q 2022). Profit margin: 1.4% (down from 4.7% in 1Q 2022). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: JP¥35.80 (vs JP¥112 in FY 2021) Full year 2022 results: EPS: JP¥35.80 (down from JP¥112 in FY 2021). Revenue: JP¥1.10t (up 17% from FY 2021). Net income: JP¥9.42b (down 68% from FY 2021). Profit margin: 0.9% (down from 3.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: JP¥35.80 (vs JP¥112 in FY 2021) Full year 2022 results: EPS: JP¥35.80 (down from JP¥112 in FY 2021). Revenue: JP¥1.10t (up 17% from FY 2021). Net income: JP¥9.42b (down 68% from FY 2021). Profit margin: 0.9% (down from 3.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in Germany. 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 8% per year, which means it is significantly lagging earnings. Announcement • Feb 14
Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 28, 2023 Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 28, 2023. Announcement • Dec 28
Sumitomo Rubber Industries, Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023 Sumitomo Rubber Industries, Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (3.3%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: JP¥10.70 loss per share (vs JP¥0.86 profit in 3Q 2021) Third quarter 2022 results: JP¥10.70 loss per share (down from JP¥0.86 profit in 3Q 2021). Revenue: JP¥269.4b (up 24% from 3Q 2021). Net loss: JP¥2.82b (down JP¥3.04b from profit in 3Q 2021). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. 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: 4 independent directors. 7 non-independent directors. Independent Outside Director Mari Sonoda 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. Reported Earnings • Nov 11
Third quarter 2022 earnings released: JP¥10.70 loss per share (vs JP¥0.86 profit in 3Q 2021) Third quarter 2022 results: JP¥10.70 loss per share (down from JP¥0.86 profit in 3Q 2021). Revenue: JP¥269.4b (up 24% from 3Q 2021). Net loss: JP¥2.82b (down JP¥3.04b from profit in 3Q 2021). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 17
Now 21% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be €10.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: JP¥20.66 (vs JP¥37.38 in 2Q 2021) Second quarter 2022 results: EPS: JP¥20.66 (down from JP¥37.38 in 2Q 2021). Revenue: JP¥261.6b (up 16% from 2Q 2021). Net income: JP¥5.43b (down 45% from 2Q 2021). Profit margin: 2.1% (down from 4.3% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 07 September 2022. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.4%). Reported Earnings • May 15
First quarter 2022 earnings released: EPS: JP¥44.69 (vs JP¥40.57 in 1Q 2021) First quarter 2022 results: EPS: JP¥44.69 (up from JP¥40.57 in 1Q 2021). Revenue: JP¥250.5b (up 17% from 1Q 2021). Net income: JP¥11.8b (up 10% from 1Q 2021). Profit margin: 4.7% (down from 5.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.9%, compared to a 9.7% growth forecast for the industry in Germany. 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 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Mari Sonoda 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. Buying Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €10.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings is also forecast to grow by 7.9% per annum over the same time period. Buying Opportunity • Mar 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be JP¥10.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 16% per annum over the last 3 years. Buying Opportunity • Mar 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥10.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 16% per annum over the last 3 years. Buying Opportunity • Feb 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be JP¥11.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 16% per annum over the last 3 years. Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: JP¥112 (up from JP¥85.92 in FY 2020). Revenue: JP¥936.0b (up 18% from FY 2020). Net income: JP¥29.5b (up 30% from FY 2020). Profit margin: 3.1% (up from 2.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 6.2% compared to a 3.0% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Sumitomo Rubber Industries, Ltd. Provides Dividend Guidance for the Year Ending December 31, 2022; Announces Dividend for the Year Ended December 31, 2021, Payable on March 25, 2022 Sumitomo Rubber Industries, Ltd. provided dividend guidance for the year ending December 31, 2022. For the year, the company expects to pay dividend of JPY 25.00 against JPY 30.00 a year ago.For the year ended December 31, 2021, the company announced dividend of JPY 30.00 against JPY 35.00 a year ago. The dividend will be payable on March 25, 2022. Announcement • Jan 30
Sumitomo Rubber Industries, Ltd. to Report Q3, 2022 Results on Nov 09, 2022 Sumitomo Rubber Industries, Ltd. announced that they will report Q3, 2022 results on Nov 09, 2022 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (2.0%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥0.86 (vs JP¥9.69 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥216.9b (up 8.4% from 3Q 2020). Net income: JP¥225.0m (down 91% from 3Q 2020). Profit margin: 0.1% (down from 1.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS JP¥37.38 (vs JP¥22.58 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥226.4b (up 52% from 2Q 2020). Net income: JP¥9.83b (up JP¥15.8b from 2Q 2020). Profit margin: 4.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2021 earnings released: EPS JP¥40.57 (vs JP¥12.94 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥213.7b (up 12% from 1Q 2020). Net income: JP¥10.7b (up JP¥14.1b from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS JP¥85.92 (vs JP¥45.90 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥790.8b (down 12% from FY 2019). Net income: JP¥22.6b (up 87% from FY 2019). Profit margin: 2.9% (up from 1.4% in FY 2019). The increase in margin was driven by lower expenses. 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 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 12
Full year 2020 earnings released: EPS JP¥85.92 (vs JP¥45.90 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥790.8b (down 12% from FY 2019). Net income: JP¥22.6b (up 87% from FY 2019). Profit margin: 2.9% (up from 1.4% in FY 2019). The increase in margin was driven by lower expenses. 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. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 7.6%, compared to a 9.7% growth forecast for the Auto Components industry in Germany. Announcement • Feb 10
Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 26, 2021 Sumitomo Rubber Industries, Ltd., Annual General Meeting, Mar 26, 2021, at 10:00 Tokyo Standard Time. Location: 13th floor Hall of the Company's Head Office 6-9, Wakinohama-cho 3-chome,Chuo-ku Kobe-shi Japan Agenda: To consider Business Report, Consolidated Financial Statements for the 129th business term (from January 1, 2020 to December 31, 2020) and Audit Reports on the Consolidated Financial Statements from the Accounting Auditor and the Audit & Supervisory Board; to consider Financial Statements for the 129 business term (from January 1, 2020 to December 31, 2020) ;to consider approval of the Proposed Disposal of Surplus; and to consider election of twelve directors. Is New 90 Day High Low • Feb 10
New 90-day high: €8.50 The company is up 1.0% from its price of €8.40 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.30 per share. Is New 90 Day High Low • Dec 30
New 90-day low: €6.95 The company is down 10.0% from its price of €7.75 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 32% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.31 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥25.00 Per Share Will be paid on the 27th of March to those who are registered shareholders by the 29th of December. The trailing yield of 2.7% is below the top quartile of German dividend payers (3.5%), but is in line with industry peers (2.4%). Is New 90 Day High Low • Dec 04
New 90-day low: €7.15 The company is down 9.0% from its price of €7.90 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.69 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €8.30 The company is up 6.0% from its price of €7.85 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.75 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 4.7%. Over the next year, revenue is forecast to grow 3.8%, compared to a 3.7% growth forecast for the Auto Components industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS JP¥9.69 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: JP¥200.2b (down 6.7% from 3Q 2019). Net income: JP¥2.55b (up 55% from 3Q 2019). Profit margin: 1.3% (up from 0.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. 
