Reported Earnings • May 20
Full year 2026 earnings released: JP¥373 loss per share (vs JP¥34.47 profit in FY 2025) Full year 2026 results: JP¥373 loss per share (down from JP¥34.47 profit in FY 2025). Revenue: JP¥182.9b (down 34% from FY 2025). Net loss: JP¥14.9b (down JP¥17.0b from profit in FY 2025). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Construction industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance. 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, CSO & Director Yasutaka Suzuki was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 14
Toyo Engineering Corporation, Annual General Meeting, Jun 25, 2026 Toyo Engineering Corporation, Annual General Meeting, Jun 25, 2026. Announcement • Apr 01
Toyo Engineering Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Toyo Engineering Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Announcement • Feb 14
Toyo Engineering Corporation Receives Notice Regarding Lawsuit Filed by Asunaro Aoki Construction Co., Ltd Toyo Engineering Corporation announced that company received, on February 13, 2026, a notice that a lawsuit has been filed against the Company. Details are as follows: Court and Date of Filing: Court: Tokyo District Court; Date of Filing: December 26, 2025 (Date of Service of Complaint: February 13, 2026); Plaintiff: Name: Asunaro Aoki Construction Co. Ltd. Address: 4-8-2 Shiba, Minato-ku, Tokyo; Representative: Mr. Naoyuki Mochizuki; Outline of the Lawsuit: Nature of Claim: Claim for payment of contract fees (including additional costs); Amount Claimed: JPY 4,958,754,653. Background: The Company, acting as the prime contractor for a petrochemical plant construction project, subcontracted a portion of the construction work to the plaintiff. The plaintiff subsequently claimed additional costs associated with the performance of the subcontracted work. Although the parties engaged in discussions to resolve the matter, they were unable to reach an agreement, and the plaintiff has now filed the present lawsuit. Announcement • Dec 19
Toyo Engineering Corporation to Report Q3, 2026 Results on Feb 12, 2026 Toyo Engineering Corporation announced that they will report Q3, 2026 results on Feb 12, 2026 Announcement • Sep 26
Toyo Engineering Corporation to Report Q2, 2026 Results on Nov 13, 2025 Toyo Engineering Corporation announced that they will report Q2, 2026 results on Nov 13, 2025 Announcement • Jun 25
Toyo Engineering Corporation to Report Q1, 2026 Results on Aug 07, 2025 Toyo Engineering Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Announcement • May 15
Toyo Engineering Corporation, Annual General Meeting, Jun 26, 2025 Toyo Engineering Corporation, Annual General Meeting, Jun 26, 2025. Announcement • Mar 26
Toyo Engineering Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Toyo Engineering Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Announcement • Feb 28
Toyo Engineering Corporation Announces Changes in Directors and Executive Officers Toyo Engineering Corporation announced the following changes in Directors and Executive Officers of the Company, with the decision at the meeting of the Board of Directors held February 27, 2025. Retiring Members: Masayuki Yoshizawa as Director, Executive Vice President and Kensuke Waki as Director, Senior Executive Officer as of April 1, 2025. With the retirement of the directors of the above two directors, Masayuki Yoshizawa will be appointed as a Assistant to President and Kensuke Waki will be appointed as an Advisor. Change of Executive Officers and Fellow (Scheduled April 1, 2025): Tetsuya Honda - Executive Officer; Takeshi Yamato - Executive Officer; Yoshihide Izumi - Executive Officer; Takashi Kawahara - Executive Officer; Hiroshi Fujita - Fellow. Newly promoted candidates: Eiji Sakata Currently Executive Officer to Senior Executive Officer and Kenichi Tominaga urrently Executive Officer to Senior Executive Officer. Retiring Members: Shoji Koshikawa - Senior Executive Officer; Hiroshi Fujita - Senior Executive Officer; Casey Matsumuro - Senior Executive Officer; Keiji Morino - Senior Executive Officer; Masahiro Fujino - Senior Executive Officer; and Masato Otsuki Executive Officer. Change of Advisor, Assistant to Presidents: New candidates (Scheduled April 1, 2025): Shoji Koshikawa Currently Senior Executive Officer as Assistant to President and Casey Matsumuro Currently Senior Executive Officer as Assistant to President. (Scheduled June 26, 2025): Masayuki Yoshizawa Currently Director Executive Vice President to Assistant to President and Kensuke Waki Currently Director
Senior Executive Officer to Advisor. Organization after April 1, 2025 - Directors and Audit & Supervisory Board Members: Chairman - Haruo Nagamatsu; President/Chief Executive Officer - Eiji Hosoi; Executive Vice President - Noriyoshi Torigoe (CCOChief Compliance Officer); Director - Masayuki Yoshizawa; Director - Kensuke Waki; Outside Director - Masami Tashiro; Outside Director - Reijiro Yamamoto; Outside Director - Tatsuya Terazawa;
Outside Director - Sayoko Miyairi; Audit & Supervisory Board Member - Toshihiko Nemura; Audit & Supervisory Board Member - Hiroshi Yoshida; Outside Audit & Supervisory Board Member - Hideki Matsuo; Outside Audit & Supervisory Board Member - Takako Miyoshi. Executive Officers - Senior Executive Officer - Eiichiro Fukuhara; Senior Executive Officer - Yasutaka Suzuki(CSOChief Strategy Officer); Senior Executive Officer - Yasuo Miyokawa(CFOChief Financial Officer); Senior Executive Officer - Yoshinari Miyazaki; Senior Executive Officer - Eiji Sakata; Senior Executive Officer - Kenichi Tominaga (CTO Chief Technology Officer); Executive Officer - Katsumi Hashimoto;
Executive Officer - Naoyuki Sawada; Executive Officer - Ryoji Nakamura; Executive Officer - Yukihiro Akimoto; Executive Officer - Ippeita Kishiguchi; Executive Officer - Hiroshi Isomura; Executive Officer - Yoshimasa Wakita; Executive Officer - Tetsuya Honda; Executive Officer - Takeshi Yamato; Executive Officer - Yoshihide Izumi; Executive Officer - Takashi Kawahara; and Fellow - Hiroshi Fujita. Assistant to President - Shoji Koshikawa; Assistant to President - Casey Matsumuro. Organization after the Annual Meeting of Shareholders on June 26, 2025 - Directors and Audit & Supervisory Board Members: Chairman - Haruo Nagamatsu; President/Chief Executive Officer - Eiji Hosoi; Executive Vice President - Noriyoshi Torigoe (CCO Chief Compliance Officer); Director/Senior Executive Officer - Yasutaka Suzuki(CSO Chief Strategy Officer); Director/Senior Executive Officer - Yasuo Miyokawa (CFO Chief Financial Officer); Outside Director - Masami Tashiro; Outside Director - Reijiro Yamamoto; Outside Director - Tatsuya Terazawa; Outside Director - Sayoko Miyairi; Audit & Supervisory Board Member - Toshihiko Nemura; Audit & Supervisory Board Member - Hiroshi Yoshida; Outside Audit & Supervisory Board Member - Hideki Matsuo; and Outside Audit & Supervisory Board Member - Takako Miyoshi. Executive Officers: Senior Executive Officer - Eiichiro Fukuhara; Senior Executive Officer - Yoshinari Miyazaki; Senior Executive Officer - Eiji Sakata; Senior Executive Officer - Kenichi Tominaga(CTO Chief Technology Officer); Executive Officer - Katsumi Hashimoto; Executive Officer - Naoyuki Sawada; Executive Officer - Ryoji Nakamura; Executive Officer - Yukihiro Akimoto; Executive Officer - Ippeita Kishiguchi; Executive Officer - Hiroshi Isomura; Executive Officer - Yoshimasa Wakita;
Executive Officer - Tetsuya Honda; Executive Officer - Takeshi Yamato; Executive Officer - Yoshihide Izumi; Executive Officer - Takashi Kawahara; Fellow - Hiroshi Fujita; Advisor - Kensuke Waki; Assistant to President - Masayuki Yoshizawa; Assistant to President - Shoji Koshikawa; Assistant to President - Casey Matsumuro. Announcement • Jan 03
Toyo Engineering Corporation to Report Q3, 2025 Results on Feb 13, 2025 Toyo Engineering Corporation announced that they will report Q3, 2025 results on Feb 13, 2025 Declared Dividend • Nov 17
Dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 610%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (7% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 35% over the next 3 years. However, it would need to fall by 92% to increase the payout ratio to a potentially unsustainable range. Announcement • Sep 26
Toyo Engineering Corporation to Report Q2, 2025 Results on Nov 14, 2024 Toyo Engineering Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥18.28 (vs JP¥21.64 in 1Q 2024) First quarter 2025 results: EPS: JP¥18.28 (down from JP¥21.64 in 1Q 2024). Revenue: JP¥62.8b (up 15% from 1Q 2024). Net income: JP¥1.07b (down 16% from 1Q 2024). Profit margin: 1.7% (down from 2.3% in 1Q 2024). Revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Construction industry in Europe are expected to grow by 4.8%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Toyo Engineering Corporation (TSE:6330) agreed to acquire an additional minority stake in TS Participações e Investimentos S.A. Toyo Engineering Corporation (TSE:6330) agreed to acquire an additional minority stake in TS Participações e Investimentos S.A. on June 30, 2024. As a part of acquisition, Toyo Engineering Corporation, also consolidated TSE S.A. and Estaleiros do Brasil Ltda., which were the subsidiaries of TSPI and equity method affiliates of the Company,
Toyo Engineering Corporation (TSE:6330) completed the acquisition of additional minority stake in TS Participações e Investimentos S.A. on June 30, 2024. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €3.72, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.65 per share. Buy Or Sell Opportunity • Jul 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €4.70. The fair value is estimated to be €5.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to decline by 3.5% per annum. Earnings are also forecast to decline by 29% per annum over the same time period. Announcement • Jun 26
Toyo Engineering Corporation to Report Q1, 2025 Results on Aug 08, 2024 Toyo Engineering Corporation announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 20
Full year 2024 earnings released: EPS: JP¥256 (vs JP¥28.11 in FY 2023) Full year 2024 results: EPS: JP¥256 (up from JP¥28.11 in FY 2023). Revenue: JP¥260.8b (up 35% from FY 2023). Net income: JP¥9.82b (up 496% from FY 2023). Profit margin: 3.8% (up from 0.9% in FY 2023). Revenue is expected to decline by 5.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Europe are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Toyo Engineering Corporation, Annual General Meeting, Jun 27, 2024 Toyo Engineering Corporation, Annual General Meeting, Jun 27, 2024. Announcement • May 16
Toyo Engineering Corporation Provides Year-End Dividend Forecast for the Fiscal Year Ending March 31, 2025 Toyo Engineering Corporation provided year-end dividend forecast for the fiscal year ending March 31, 2025. For the fiscal year ending March 31, 2025 to JPY 25.00 per share as compared to previous year of JPY 12 per share. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €6.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.20 per share. Board Change • Apr 25
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. 5 non-independent directors. Independent Outside Director Tatsuya Terazawa 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 • Mar 24
Toyo Engineering Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Toyo Engineering Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Announcement • Mar 21
Toyo Engineering Corporation Revises Year-End Dividend Forecast for the Fiscal Year Ending March 31, 2024 Toyo Engineering Corporation at its board meeting held on March 21, 2024 resolved the revision to the year-end dividend forecast for the fiscal year ending March 31, 2024 to JPY 12.00 per share as compared to previous JPY 0.00 per share. Announcement • Feb 22
Toyo Engineering Corporation Announces Change of Audit & Supervisory Board Members Toyo Engineering Corporation announced that at the board meeting held on February 22, 2024, the company announced Chihiro Ubukata retired as Audit & Supervisory Board Member. Keisuke Ishii retired as Chief Technology Officer, (Scheduled April 1, 2024). Tomohisa Abe retire as Advisor, (Scheduled June 27, 2024). Buy Or Sell Opportunity • Feb 21
Now 20% undervalued Over the last 90 days, the stock has risen 20% to €4.86. The fair value is estimated to be €6.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are forecast to grow by 5.0% per annum over the same time period. Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥12.27 (vs JP¥4.90 in 3Q 2023) Third quarter 2024 results: EPS: JP¥12.27 (up from JP¥4.90 in 3Q 2023). Revenue: JP¥72.3b (up 59% from 3Q 2023). Net income: JP¥719.0m (up 151% from 3Q 2023). Profit margin: 1.0% (up from 0.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Construction industry in Europe are expected to grow by 3.9%. Announcement • Jan 25
Toyo Engineering Corporation Revises Consolidated Earnings Guidance for the Year Ending March 31, 2024 Toyo Engineering Corporation revised consolidated earnings guidance for the year ending March 31, 2024. For the year, the company revised net sales of ¥250,000 million, operating income of ¥5,000 million, Profit attributable to owners of parents of ¥7,900 million compared to the previous guidance of ¥3,000 million and net income per share of ¥134.81 compared to the previous guidance of ¥51.19. Announcement • Dec 24
Toyo Engineering Corporation to Report Q3, 2024 Results on Feb 08, 2024 Toyo Engineering Corporation announced that they will report Q3, 2024 results on Feb 08, 2024 Announcement • Nov 11
Toyo Engineering Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024 Toyo Engineering Corporation revised consolidated earnings guidance for the fiscal year ending March 31, 2024. For the period the company expects net sales to be JPY 250,000 million compared to previous guidance of JPY 240,000 million, operating profit to be JPY 5,000 million compared to previous guidance of JPY 3,000 million, profit attributable to owners of parent to be JPY 3,000 million and net income per share to be JPY 51.19. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥60.69 (vs JP¥3.21 in 2Q 2023) Second quarter 2024 results: EPS: JP¥60.69 (up from JP¥3.21 in 2Q 2023). Revenue: JP¥62.3b (up 24% from 2Q 2023). Net income: JP¥1.10b (up 483% from 2Q 2023). Profit margin: 1.8% (up from 0.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.2% growth forecast for the Construction industry in Germany. Announcement • Sep 23
Toyo Engineering Corporation to Report Q2, 2024 Results on Nov 09, 2023 Toyo Engineering Corporation announced that they will report Q2, 2024 results on Nov 09, 2023 Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥21.64 (vs JP¥17.88 in 1Q 2023) First quarter 2024 results: EPS: JP¥21.64 (up from JP¥17.88 in 1Q 2023). Revenue: JP¥54.7b (up 19% from 1Q 2023). Net income: JP¥1.27b (up 21% from 1Q 2023). Profit margin: 2.3% (in line with 1Q 2023). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in Germany. Announcement • Jun 24
Toyo Engineering Corporation to Report Q1, 2024 Results on Aug 10, 2023 Toyo Engineering Corporation announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥42.97 (vs JP¥27.64 in FY 2022) Full year 2023 results: EPS: JP¥42.97 (up from JP¥27.64 in FY 2022). Revenue: JP¥192.9b (down 5.0% from FY 2022). Net income: JP¥1.65b (up 1.7% from FY 2022). Profit margin: 0.9% (in line with FY 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Construction industry in Europe. Announcement • May 14
Toyo Engineering Corporation, Annual General Meeting, Jun 28, 2023 Toyo Engineering Corporation, Annual General Meeting, Jun 28, 2023. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥4.90 (vs JP¥3.82 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.90 (up from JP¥3.82 loss in 3Q 2022). Revenue: JP¥45.6b (up 7.4% from 3Q 2022). Net income: JP¥287.0m (up JP¥511.0m from 3Q 2022). Profit margin: 0.6% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Europe. Announcement • Feb 09
Toyo Engineering Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 Toyo Engineering Corporation provided revised consolidated earnings guidance for the fiscal year ending March 31, 2023. The company expects net sales to be JPY 200,000 million, Operating profit to be JPY 4,000 million, profit attributable to owners of parent to be JPY 1,500 million or JPY 25.60 per basic share. Buying Opportunity • Jan 17
Now 20% undervalued Over the last 90 days, the stock is up 5.1%. 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 declined by 7.1% over the last 3 years. Earnings per share has grown by 56%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 26% per annum over the same time period. Announcement • Dec 23
Toyo Engineering Corporation to Report Q3, 2023 Results on Feb 09, 2023 Toyo Engineering Corporation announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Nov 16
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. 5 non-independent directors. Independent Outside Director Tatsuya Terazawa 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. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥10.55 (vs JP¥8.57 in 2Q 2022) Second quarter 2023 results: EPS: JP¥10.55 (up from JP¥8.57 in 2Q 2022). Revenue: JP¥48.2b (up 11% from 2Q 2022). Net income: JP¥618.0m (up 23% from 2Q 2022). Profit margin: 1.3% (in line with 2Q 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Construction industry in Europe. Announcement • Nov 11
Toyo Engineering Corporation Provides Earnings Guidance for the Fiscal Year Ending March 31, 2023 Toyo Engineering Corporation provided earnings guidance for the fiscal year ending March 31, 2023. The company expects net sales to be JPY 210,000 million, Operating profit to be JPY 2,000 million, profit attributable to owners of parent to be JPY 1,500 million or JPY 25.60 per basic share. Announcement • Sep 23
Toyo Engineering Corporation to Report Q2, 2023 Results on Nov 10, 2022 Toyo Engineering Corporation announced that they will report Q2, 2023 results on Nov 10, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥27.34 (vs JP¥16.16 in 1Q 2022) First quarter 2023 results: EPS: JP¥27.34 (up from JP¥16.16 in 1Q 2022). Revenue: JP¥46.2b (down 14% from 1Q 2022). Net income: JP¥1.05b (up 11% from 1Q 2022). Profit margin: 2.3% (up from 1.8% in 1Q 2022). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 13%, compared to a 5.3% growth forecast for the industry in Germany. Announcement • Jun 23
Toyo Engineering Corporation to Report Q1, 2023 Results on Aug 10, 2022 Toyo Engineering Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥27.65 (vs JP¥13.89 in FY 2021) Full year 2022 results: EPS: JP¥27.65 (up from JP¥13.89 in FY 2021). Revenue: JP¥203.0b (up 10% from FY 2021). Net income: JP¥1.62b (up 99% from FY 2021). Profit margin: 0.8% (up from 0.4% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.5%, compared to a 6.9% growth forecast for the industry in Germany. Announcement • May 14
Toyo Engineering Corporation, Annual General Meeting, Jun 25, 2022 Toyo Engineering Corporation, Annual General Meeting, Jun 25, 2022. Announcement • May 13
Toyo Engineering Corporation Provides Earnings Guidance for the Fiscal Year Ending March 31, 2023 Toyo Engineering Corporation provided earnings guidance for the fiscal year ending March 31, 2023. The company expects net sales to be JPY 210,000 million, Operating profit to be JPY 2,000 million, profit attributable to owners of parent to be JPY 1,500 million or JPY 25.60 per basic share. 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. 5 non-independent directors. Independent Outside Director Tatsuya Terazawa 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
Toyo Engineering Corporation to Report Fiscal Year 2022 Results on May 12, 2022 Toyo Engineering Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: JP¥3.82 loss per share (down from JP¥1.86 profit in 3Q 2021). Revenue: JP¥42.4b (down 2.2% from 3Q 2021). Net loss: JP¥224.0m (down 306% from profit in 3Q 2021). Revenue missed analyst estimates by 30%. Over the next year, revenue is forecast to grow 23%, compared to a 10% growth forecast for the industry in Germany. Announcement • Feb 10
Toyo Engineering Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2022 Toyo Engineering Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2022. For the period, the company expects net sales to be JPY 240,000 million, operating income to be JPY 2,500 million, profit attributable to owners of parent of JPY 1,500. Net income per share of JPY 25.60. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥27.79 (vs JP¥17.39 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥43.5b (down 4.7% from 2Q 2021). Net income: JP¥502.0m (down 51% from 2Q 2021). Profit margin: 1.2% (down from 2.2% in 2Q 2021). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥7.77, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 14x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €14.17 per share. Reported Earnings • Aug 14
First quarter 2022 earnings released: EPS JP¥16.16 (vs JP¥4.20 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥54.0b (up 23% from 1Q 2021). Net income: JP¥947.0m (up JP¥1.19b from 1Q 2021). Profit margin: 1.8% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Board Change • Jul 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, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Tatsuya Terazawa was the last independent director to join the board, commencing their role in 2020. 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 • May 16
Full year 2021 earnings released: EPS JP¥21.24 (vs JP¥28.39 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥184.0b (down 16% from FY 2020). Net income: JP¥814.0m (down 51% from FY 2020). Profit margin: 0.4% (down from 0.8% in FY 2020). The decrease in margin was driven by lower revenue. Announcement • Apr 07
Bankrupt Estate of Banco Santos S.A. Files Lawsuit Against Toyo Engineering Corporation BANKRUPT ESTATE OF BANCO SANTOS S.A. filed a lawsuit against Toyo Engineering Corporation ("TOYO") together with 30 other defendants to pierce their corporate veils as follows. Outline of Lawsuit Court: 31st Civil Court of the District of São Paulo, Brazil; Applicable Law: Brazilian Law; Date of Commencement: April 5, 2021 (local time). Counterparty Name: BANKRUPT ESTATE OF BANCO SANTOS S.A; ddress: Rua Tabapua, 474, 8°andar, conjuntos 84 e 85 Itaim Bibi, Sao Paulo/SP, Brasil; Representative: Dr. Paulo Guilherme de Mendonça Lopes. Causes and circumstances of the Lawsuit: The Plaintiff alleges to pierce the corporate veil of all the 31 defendants to pursue a joint and several liability for a credit which the Plaintiff has against one of the defendants belonging to a business group to which SOG-Oleo e Gas S/A ("SOG"), a joint venture partner of TOYO, also belongs. The vast majority of the defendants are companies belonging to the same business group and individuals as their shareholders, and also include three of TOYO's equity-method affiliates equally owned between TOYO and SOG. The amount of the credit claimed is approx. BRL 230 million or USD 40 million. Prospects: TOYO has no capital or management relationship at all with SOG or any other business group companies or their shareholders, other than with the above mentioned equity-method affiliates, and therefore thinks that the alleged piercing of corporate veil is groundless and without merit. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥5.55, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €8.74 per share. Announcement • Mar 19
Toyo Engineering Corporation to Report Fiscal Year 2021 Results on May 13, 2021 Toyo Engineering Corporation announced that they will report fiscal year 2021 results on May 13, 2021 Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥5.29, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €9.11 per share.