Announcement • Jun 23
The Gunma Bank, Ltd. to Report Q1, 2027 Results on Aug 03, 2026 The Gunma Bank, Ltd. announced that they will report Q1, 2027 results on Aug 03, 2026 Reported Earnings • Jun 17
Full year 2026 earnings released: EPS: JP¥155 (vs JP¥114 in FY 2025) Full year 2026 results: EPS: JP¥155 (up from JP¥114 in FY 2025). Revenue: JP¥195.5b (up 17% from FY 2025). Net income: JP¥58.9b (up 34% from FY 2025). Profit margin: 30% (up from 26% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Board Change • May 21
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. 2 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Outside Director Takuji Kanai was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 11
The Gunma Bank, Ltd., Annual General Meeting, Jun 23, 2026 The Gunma Bank, Ltd., Annual General Meeting, Jun 23, 2026. Announcement • May 10
The Gunma Bank, Ltd. to Report Fiscal Year 2026 Results on May 11, 2026 The Gunma Bank, Ltd. announced that they will report fiscal year 2026 results on May 11, 2026 Announcement • Dec 13
The Gunma Bank, Ltd. to Report Q3, 2026 Results on Feb 03, 2026 The Gunma Bank, Ltd. announced that they will report Q3, 2026 results on Feb 03, 2026 Announcement • Sep 12
The Gunma Bank, Ltd. to Report Q2, 2026 Results on Nov 10, 2025 The Gunma Bank, Ltd. announced that they will report Q2, 2026 results on Nov 10, 2025 Announcement • Jul 28
The Gunma Bank, Ltd. (TSE:8334) announces an Equity Buyback for 6,000,000 shares, representing 1.57% for ¥6,000 million. The Gunma Bank, Ltd. (TSE:8334) announces a share repurchase program. Under the program, the company will repurchase up to 6,000,000 shares, representing 1.57% of its issued share capital (excluding treasury stock), for a total purchase price of ¥6,000 million. The purpose of the program is to improve shareholder returns through the implementation of a flexible capital policy and improved capital efficiency. The shares repurchased will be cancelled. The program will continue through September 19, 2025. As of June 30, 2025, the company had 382,388,388 issued shares (excluding treasury stock) and 23,499,789 treasury shares. Announcement • Jun 24
The Gunma Bank, Ltd. to Report Q1, 2026 Results on Jul 29, 2025 The Gunma Bank, Ltd. announced that they will report Q1, 2026 results on Jul 29, 2025 Announcement • May 08
The Gunma Bank, Ltd., Annual General Meeting, Jun 20, 2025 The Gunma Bank, Ltd., Annual General Meeting, Jun 20, 2025. Announcement • Mar 19
The Gunma Bank, Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 The Gunma Bank, Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Announcement • Feb 26
The Gunma Bank, Ltd. Raises Dividend Guidance for Year-End Dividend for the Fiscal Year Ending March 31, 2025 The Gunma Bank, Ltd. raised dividend guidance for year-end dividend for the fiscal year ending March 31, 2025. The company now expects to pay dividend of JPY 25 per share against JPY 20 per share forecasted earlier. Due to changes to the shareholder return policy, the Bank has decided to increase its forecasts compared to the previous forecasts. Announcement • Dec 07
The Gunma Bank, Ltd. to Report Q3, 2025 Results on Feb 04, 2025 The Gunma Bank, Ltd. announced that they will report Q3, 2025 results on Feb 04, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: JP¥30.36 (vs JP¥14.72 in 2Q 2024) Second quarter 2025 results: EPS: JP¥30.36 (up from JP¥14.72 in 2Q 2024). Revenue: JP¥42.7b (up 2.7% from 2Q 2024). Net income: JP¥11.8b (up 101% from 2Q 2024). Profit margin: 28% (up from 14% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.15, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 159% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.47 per share. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.4%). Announcement • Sep 04
The Gunma Bank, Ltd. to Report Q2, 2025 Results on Nov 11, 2024 The Gunma Bank, Ltd. announced that they will report Q2, 2025 results on Nov 11, 2024 Announcement • Aug 28
The Gunma Bank, Ltd. (TSE:8334) announces an Equity Buyback for 7,000,000 shares, representing 1.81% for TWD 5,000 million. The Gunma Bank, Ltd. (TSE:8334) announces a share repurchase program. Under the program, the company will repurchase up to 7,000,000 shares, representing 1.80% of its issued share capital (excluding treasury stock), for a total purchase price of ¥5,000 million. The purpose of the program is to improve shareholder returns by implementing a flexible capital policy and improving capital efficiency, taking into consideration current business performance, stock price levels, etc. The shares repurchased will be cancelled. The program will continue through October 18, 2024. As of June 30, 2024, the company had 387,693,620 issued shares (excluding treasury stock) and 38,194,557 treasury shares. New Risk • Aug 05
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 7.4% 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. Buy Or Sell Opportunity • Aug 05
Now 22% undervalued Over the last 90 days, the stock has risen 4.6% to €5.65. The fair value is estimated to be €7.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 21%. Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥28.58 (vs JP¥22.37 in 1Q 2024) First quarter 2025 results: EPS: JP¥28.58 (up from JP¥22.37 in 1Q 2024). Revenue: JP¥44.3b (down 3.0% from 1Q 2024). Net income: JP¥11.2b (up 24% from 1Q 2024). Profit margin: 25% (up from 20% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 251%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 11% 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 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to €5.75. The fair value is estimated to be €4.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 24%. Announcement • Jun 20
The Gunma Bank, Ltd. to Report Q1, 2025 Results on Aug 01, 2024 The Gunma Bank, Ltd. announced that they will report Q1, 2025 results on Aug 01, 2024 Announcement • May 11
The Gunma Bank, Ltd., Annual General Meeting, Jun 20, 2024 The Gunma Bank, Ltd., Annual General Meeting, Jun 20, 2024. Reported Earnings • May 10
Full year 2024 earnings released: EPS: JP¥78.43 (vs JP¥68.19 in FY 2023) Full year 2024 results: EPS: JP¥78.43 (up from JP¥68.19 in FY 2023). Revenue: JP¥159.8b (flat on FY 2023). Net income: JP¥31.1b (up 11% from FY 2023). Profit margin: 20% (up from 17% in FY 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 10
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to €6.10. The fair value is estimated to be €4.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 24%. Announcement • Apr 27
Shin-Etsu Chemical Co., Ltd. (TSE:4063) made an offer to acquire 56.1% stake in Mimasu Semiconductor Industry Co., Ltd. (TSE:8155) from a group share of shareholders for ¥66.7 billion. Shin-Etsu Chemical Co., Ltd. (TSE:4063) made an offer to acquire 56.1% stake in Mimasu Semiconductor Industry Co., Ltd. (TSE:8155) from a group share of shareholders for ¥66.7 billion on April 24, 2024. The shares will be tendered for ¥3,700 per common share. Shin-Etsu plans to purchase a minimum of 7.7 million Mimasu shares (representing 23.91% of the outstanding shares) through the Tender Offer. If the total number of shares tendered in response to the Tender Offer ) is less than the minimum number of shares to be purchased Shin-Etsu will purchase none of the Tendered Shares. As of today, Shin-Etsu directly owns 13.7 million shares (representing 42.75% of outstanding shares) and indirectly owns, through a subsidiary, an additional 0.4 million shares (representing 1.12% of outstanding shares) for a total of 14 million shares (representing 43.87% of outstanding shares). The purpose of the Tender Offer is to make Mimasu a wholly-owned subsidiary of Shin-Etsu. Shin-Etsu plans to implement the Squeeze-out Procedures after the successful completion of the Tender Offer. Mimasu has established an independent special committee and will obtain a report from the special committee. As of April 25, 2024, the Board of Directors of Mimasu Semiconductor expressed its opinion as of today in support of the Tender Offer. The transaction is conditional upon resolution in support of and recommending the tender has been passed at the Mimasu's board of directors meeting, the special committee established by the Target Company has submitted a positive report recommending support, no events have occurred that will have a material adverse effect on the financial condition of Mimasu, no petition, suit or proceeding is pending with a judicial or administrative agency and there are no undisclosed material facts. The tender offer will commence in late July 2024. Kashiwagi Sogo Law Offices acted as the legal advisor and Daiwa Securities Co. Ltd. acted as the financial advisor to Shin-Etsu Chemical Co., Ltd. (TSE:4063). TMI Associates acted as the legal advisor and Deloitte Tohmatsu Financial Advisory LLC acted as the financial advisor to Mimasu Semiconductor Industry Co., Ltd. and the special committee. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.6%). Announcement • Mar 10
The Gunma Bank, Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 The Gunma Bank, Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Buy Or Sell Opportunity • Feb 15
Now 21% undervalued Over the last 90 days, the stock has risen 15% to €4.56. The fair value is estimated to be €5.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 107% in 2 years. Earnings are forecast to decline by 1.8% in the next 2 years. Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: JP¥24.75 (vs JP¥20.55 in 3Q 2023) Third quarter 2024 results: EPS: JP¥24.75 (up from JP¥20.55 in 3Q 2023). Revenue: JP¥40.1b (up 4.6% from 3Q 2023). Net income: JP¥9.77b (up 16% from 3Q 2023). Profit margin: 24% (up from 22% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 21% per year. Announcement • Feb 05
The Gunma Bank, Ltd. Revises Earnings Guidance for the Fiscal Year Ending March 31, 2024 The Gunma Bank, Ltd. revised earnings guidance for the fiscal year ending March 31, 2024. For the year, the company expects profit attributable to Owners of Parent of JPY 30,000 million compared to Previous Projection of JPY 28,000 million and Profit per share of JPY 75.60 compared to Previous Projection of JPY 70.28. Buying Opportunity • Dec 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.6%. The fair value is estimated to be €5.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 70% in 2 years. Earnings is forecast to grow by 2.0% in the next 2 years. Announcement • Dec 10
The Gunma Bank, Ltd. to Report Q3, 2024 Results on Feb 05, 2024 The Gunma Bank, Ltd. announced that they will report Q3, 2024 results on Feb 05, 2024 Buying Opportunity • Nov 16
Now 23% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €5.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 113% in 2 years. Earnings is forecast to grow by 2.0% in the next 2 years. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥14.72 (vs JP¥12.61 in 2Q 2023) Second quarter 2024 results: EPS: JP¥14.72 (up from JP¥12.61 in 2Q 2023). Revenue: JP¥41.5b (flat on 2Q 2023). Net income: JP¥5.84b (up 13% from 2Q 2023). Profit margin: 14% (up from 12% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
The Gunma Bank, Ltd. (TSE:8334) announces an Equity Buyback for 5,000,000 shares, representing 1.26% for ¥3,000 million. The Gunma Bank, Ltd. (TSE:8334) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 1.26% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The purpose of the program is to implement flexible capital policies and to improve shareholder returns through improved capital efficiency. The program will continue through December 8, 2023. As of September 30, 2023, the company had 396,799,883 issued shares (excluding treasury stock) and 29,088,294 treasury shares. Announcement • Sep 28
The Gunma Bank, Ltd. to Report Q2, 2024 Results on Nov 08, 2023 The Gunma Bank, Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.0%). New Risk • Aug 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 02
First quarter 2024 earnings released: EPS: JP¥22.37 (vs JP¥20.97 in 1Q 2023) First quarter 2024 results: EPS: JP¥22.37 (up from JP¥20.97 in 1Q 2023). Revenue: JP¥45.7b (up 2.2% from 1Q 2023). Net income: JP¥9.02b (up 4.7% from 1Q 2023). Profit margin: 20% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
The Gunma Bank, Ltd. to Report Q1, 2024 Results on Aug 01, 2023 The Gunma Bank, Ltd. announced that they will report Q1, 2024 results on Aug 01, 2023 Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥68.19 (vs JP¥63.33 in FY 2022) Full year 2023 results: EPS: JP¥68.19 (up from JP¥63.33 in FY 2022). Revenue: JP¥161.1b (up 16% from FY 2022). Net income: JP¥27.9b (up 5.7% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 3.0% growth forecast for the Banks industry in Europe. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: JP¥20.55 (vs JP¥19.27 in 3Q 2022) Third quarter 2023 results: EPS: JP¥20.55 (up from JP¥19.27 in 3Q 2022). Revenue: JP¥35.3b (flat on 3Q 2022). Net income: JP¥8.43b (up 4.7% from 3Q 2022). Profit margin: 24% (in line with 3Q 2022). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Banks industry in Europe. Buying Opportunity • Feb 03
Now 21% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be €4.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has grown by 5.7%. Revenue is forecast to grow by 5.1% in 2 years. Earnings is forecast to grow by 17% in the next 2 years. Buying Opportunity • Jan 17
Now 23% undervalued Over the last 90 days, the stock is up 31%. The fair value is estimated to be €4.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has grown by 5.7%. Revenue is forecast to grow by 5.1% in 2 years. Earnings is forecast to grow by 17% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 16% share price gain to €3.42, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 36% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €5.02 per share. Announcement • Dec 09
The Gunma Bank, Ltd. to Report Q3, 2023 Results on Feb 03, 2023 The Gunma Bank, Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). Executive Chairman Nobuyuki Horie is the most experienced director on the board, commencing their role in 2012. Independent Outside Director Kazuto Osugi was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥12.61 (vs JP¥9.28 in 2Q 2022) Second quarter 2023 results: EPS: JP¥12.61 (up from JP¥9.28 in 2Q 2022). Revenue: JP¥44.0b (up 48% from 2Q 2022). Net income: JP¥5.18b (up 33% from 2Q 2022). Profit margin: 12% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.3%). Announcement • Sep 17
The Gunma Bank, Ltd. to Report Q2, 2023 Results on Nov 09, 2022 The Gunma Bank, Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 03
First quarter 2023 earnings released: EPS: JP¥20.97 (vs JP¥27.28 in 1Q 2022) First quarter 2023 results: EPS: JP¥20.97 (down from JP¥27.28 in 1Q 2022). Revenue: JP¥44.7b (flat on 1Q 2022). Net income: JP¥8.61b (down 25% from 1Q 2022). Profit margin: 19% (down from 26% in 1Q 2022). Announcement • Jun 30
The Gunma Bank, Ltd. to Report Q1, 2023 Results on Aug 02, 2022 The Gunma Bank, Ltd. announced that they will report Q1, 2023 results on Aug 02, 2022 Buying Opportunity • Jun 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.4%. The fair value is estimated to be €3.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥63.33 (vs JP¥32.14 in FY 2021) Full year 2022 results: EPS: JP¥63.33 (up from JP¥32.14 in FY 2021). Revenue: JP¥142.9b (up 24% from FY 2021). Net income: JP¥26.4b (up 96% from FY 2021). Profit margin: 19% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Announcement • May 13
The Gunma Bank, Ltd., Annual General Meeting, Jun 24, 2022 The Gunma Bank, Ltd., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kuniko Nishikawa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
The Gunma Bank, Ltd. to Report Fiscal Year 2022 Results on May 11, 2022 The Gunma Bank, Ltd. announced that they will report fiscal year 2022 results on May 11, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.6%). Lower than average of industry peers (5.7%). Buying Opportunity • Feb 26
Now 21% undervalued Over the last 90 days, the stock is up 9.2%. The fair value is estimated to be JP¥3.61, 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 declined by 11% per annum over the last 3 years. Reported Earnings • Feb 04
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥19.27 (up from JP¥14.66 in 3Q 2021). Revenue: JP¥40.5b (up 23% from 3Q 2021). Net income: JP¥8.05b (up 31% from 3Q 2021). Profit margin: 20% (up from 19% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥9.28 (vs JP¥16.22 in 2Q 2021) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥32.0b (flat on 2Q 2021). Net income: JP¥3.90b (down 43% from 2Q 2021). Profit margin: 12% (down from 21% in 2Q 2021). Announcement • Oct 01
The Gunma Bank, Ltd. Revises Consolidated and Non-Consolidated Earnings Guidance for the Six Months Ending September 30, 2021 The Gunma Bank, Ltd. revised consolidated and Non-Consolidated earnings guidance for the six months ending September 30, 2021. For the consolidated period, the company revised ordinary profit of JPY 23,000 million against previous projection JPY 16,500 million, profit attributable to owners of parent of JPY 14,700 million against previous projection JPY 11,500 million and profit per share of JPY 34.96 million against previous projection JPY 27.36.
For the Non-consolidated period, the company revised ordinary profit of JPY 21,000 million against previous projection JPY 15,000 million, profit attributable to owners of parent of JPY 13,500 million against previous projection JPY 10,500 million and profit per share of JPY 32.11 million against previous projection JPY 24.98. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 4.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.4%). Reported Earnings • Aug 05
First quarter 2022 earnings released: EPS JP¥27.28 (vs JP¥13.09 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥43.4b (up 33% from 1Q 2021). Net income: JP¥11.5b (up 109% from 1Q 2021). Profit margin: 26% (up from 17% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥32.14 (vs JP¥52.79 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥118.6b (down 9.4% from FY 2020). Net income: JP¥13.5b (down 39% from FY 2020). Profit margin: 11% (down from 17% in FY 2020). The decrease in margin was driven by lower revenue. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.9%). Is New 90 Day High Low • Mar 06
New 90-day high: €2.76 The company is up 4.0% from its price of €2.64 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks 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 €3.21 per share. Announcement • Mar 04
The Gunma Bank, Ltd. to Report Fiscal Year 2021 Results on May 12, 2021 The Gunma Bank, Ltd. announced that they will report fiscal year 2021 results on May 12, 2021 Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥14.66 (vs JP¥20.34 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¥41.5b (up 14% from 3Q 2020). Net income: JP¥6.16b (down 28% from 3Q 2020). Profit margin: 15% (down from 23% in 3Q 2020). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Jan 04
New 90-day low: €2.40 The company is down 15% from its price of €2.82 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.43 per share. Is New 90 Day High Low • Dec 19
New 90-day low: €2.48 The company is down 16% from its price of €2.94 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks 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 €3.42 per share. Announcement • Dec 03
The Gunma Bank, Ltd. to Report Q3, 2021 Results on Feb 02, 2021 The Gunma Bank, Ltd. announced that they will report Q3, 2021 results on Feb 02, 2021 Is New 90 Day High Low • Dec 01
New 90-day low: €2.56 The company is down 6.0% from its price of €2.72 on 02 September 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks 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 €2.82 per share. Reported Earnings • Nov 07
Second quarter 2021 earnings released: EPS JP¥16.22 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥39.8b (up 26% from 2Q 2020). Net income: JP¥6.82b (up 34% from 2Q 2020). Profit margin: 17% (up from 16% in 2Q 2020). The increase in margin was driven by higher revenue. 
