Announcement • Jul 11
Hoshizaki Corporation announced that it has received ¥12.1020036 billion in funding from Japan Activation Capital, Inc. On July 9, 2026, Hoshizaki Corporation closed the transaction. Buy Or Sell Opportunity • Jul 07
Now 22% undervalued Over the last 90 days, the stock has risen 4.9% to €30.20. The fair value is estimated to be €38.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Upcoming Dividend • Jun 25
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 14 September 2026. Payout ratio is a comfortable 42% and the cash payout ratio is 83%. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.0%). Announcement • Jun 17
Hoshizaki Corporation (TSE:6465) announces an Equity Buyback for 2,329,100 shares, representing 1.68% for ¥12,091 million. Hoshizaki Corporation (TSE:6465) announces a share repurchase program. Under the program, the company will repurchase up to 2,329,100 shares, representing 1.68% of its issued share capital, for ¥12,091 million. The purpose of the program is to maximize the Company’s medium- to long-term corporate value and enhance shareholder profit by conducting the Partnership. The program is valid till March 31, 2027. As of June 16, 2026, the company had 138,404,620 outstanding shares (excluding treasury stock) and 6,485,480 treasury shares. Buy Or Sell Opportunity • Jun 09
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €27.00. The fair value is estimated to be €33.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Announcement • May 30
Hoshizaki Corporation to Report Q2, 2026 Results on Aug 06, 2026 Hoshizaki Corporation announced that they will report Q2, 2026 results on Aug 06, 2026 Reported Earnings • May 20
First quarter 2026 earnings released: EPS: JP¥79.39 (vs JP¥76.59 in 1Q 2025) First quarter 2026 results: EPS: JP¥79.39 (up from JP¥76.59 in 1Q 2025). Revenue: JP¥135.6b (up 15% from 1Q 2025). Net income: JP¥11.2b (up 3.4% from 1Q 2025). Profit margin: 8.3% (down from 9.2% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Machinery industry in Germany. 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. Board Change • May 20
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 Yoshimi Horinishi was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 05
Hoshizaki Corporation to Report Fiscal Year 2025 Results on Feb 13, 2026 Hoshizaki Corporation announced that they will report fiscal year 2025 results on Feb 13, 2026 Announcement • Sep 01
Hoshizaki Corporation to Report Q3, 2025 Results on Nov 07, 2025 Hoshizaki Corporation announced that they will report Q3, 2025 results on Nov 07, 2025 Announcement • Jun 13
Hoshizaki Corporation (TSE:6465) agreed to acquire Structural Concepts Corporation for approximately $380 million. Hoshizaki Corporation (TSE:6465) agreed to acquire Structural Concepts Corporation for approximately $380 million on June 12, 2025. A cash consideration of $375 million will be paid by Hoshizaki Corporation. As part of consideration, $375 million is paid towards common equity of Structural Concepts Corporation. Hoshizaki Corporation will acquire Structural Concepts Corporation through a merger involving Structural Concepts Corporation’s parent SC Holding Corp and Alliance 2 Acquisition I, Inc. (hereafter referred to as SPC), a subsidiary established by Hoshizaki USA Holdings, Inc. for the purpose of the Transaction. In this transaction, a “Reverse Triangular Merger Method” will be adopted. Specifically, SPC will be merged with and into SC Holding Corp, which will be the surviving company. When the companies are merged, Hoshizaki USA Holdings, Inc. will provide cash to the shareholders of SC Holding Corp after which all the outstanding shares of SC Holding Corp will be cancelled. All the shares of SPC held by HAHD will be converted to common shares of SCHD, the surviving company. In this way, HAHD acquires 100% of the outstanding shares of SC Holding Corp, and SC Holding Corp and Structural Concepts Corporation becomes wholly owned subsidiaries of Hoshizaki USA Holdings, Inc.
Closing of the Transaction is anticipated on or about the end of July 2025 and is subject to customary conditions and regulatory approvals. Announcement • Jun 03
Hoshizaki Corporation to Report Q2, 2025 Results on Aug 07, 2025 Hoshizaki Corporation announced that they will report Q2, 2025 results on Aug 07, 2025 Announcement • Mar 27
Hoshizaki Corporation to Report Q1, 2025 Results on May 13, 2025 Hoshizaki Corporation announced that they will report Q1, 2025 results on May 13, 2025 Announcement • Feb 13
Hoshizaki Corporation, Annual General Meeting, Mar 26, 2025 Hoshizaki Corporation, Annual General Meeting, Mar 26, 2025. Announcement • Dec 18
Hoshizaki Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Hoshizaki Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Announcement • Nov 16
Hoshizaki Corporation Revises Consolidated Earnings Guidance for the Full Year Ending December 31, 2024 Hoshizaki Corporation revised consolidated earnings guidance for the full year ending December 31, 2024. For the year, company expects Net sales of JPY 430,000 million, Operating profit of JPY 48,500 million, Profit attributable to owners of parent of JPY 34,000 million and Earnings per share of JPY 236.31 against previous guidance of Net sales of JPY 410,000 million, Operating profit of JPY 44,000 million, Profit attributable to owners of parent of JPY 33,000 million and Earnings per share of JPY 227.79. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: JP¥77.50 (vs JP¥69.62 in 3Q 2023) Third quarter 2024 results: EPS: JP¥77.50 (up from JP¥69.62 in 3Q 2023). Revenue: JP¥113.2b (up 15% from 3Q 2023). Net income: JP¥11.1b (up 10.0% from 3Q 2023). Profit margin: 9.8% (in line with 3Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €36.00, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 10x in the Machinery industry in Germany. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €30.53 per share. Announcement • Nov 12
Hoshizaki Corporation (TSE:6465) announces an Equity Buyback for 2,500,000 shares, representing 1.75% for ¥10,000 million. Hoshizaki Corporation (TSE:6465) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 1.75% of its issued share capital, for ¥10,000 million. The purpose of the program is to further increase corporate value by enhancing shareholder returns and improving capital efficiency. The program is valid till February 28, 2025. As of September 30, 2024, the company had 142,988,371 outstanding shares (excluding treasury stock) and 1,901,729 treasury shares. Announcement • Sep 10
Hoshizaki Corporation to Report Q3, 2024 Results on Nov 12, 2024 Hoshizaki Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 12
Second quarter 2024 earnings released: EPS: JP¥67.39 (vs JP¥77.31 in 2Q 2023) Second quarter 2024 results: EPS: JP¥67.39 (down from JP¥77.31 in 2Q 2023). Revenue: JP¥109.0b (up 17% from 2Q 2023). Net income: JP¥9.75b (down 13% from 2Q 2023). Profit margin: 8.9% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 09
Dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 27th December 2024 Payment date: 6th March 2025 Dividend yield will be 196%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 17% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 09
Hoshizaki Corporation Announces Dividend for Second Quarter of Year Ending December 31, 2024, Payable on September 12, 2024 Hoshizaki Corporation announced dividend of JPY 45.00 per share for second quarter of year ending December 31, 2024 against dividend of JPY 30.00 per share paid a year ago. Scheduled date to commence dividend payments: September 12, 2024. Buy Or Sell Opportunity • Aug 05
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to €25.40. The fair value is estimated to be €33.69, 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 23%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period. Buy Or Sell Opportunity • Jul 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to €28.00. The fair value is estimated to be €35.32, 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 23%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 5.8% per annum over the same time period. Announcement • Jun 14
Hoshizaki Corporation to Report Q2, 2024 Results on Aug 07, 2024 Hoshizaki Corporation announced that they will report Q2, 2024 results on Aug 07, 2024 Announcement • May 30
Hoshizaki Corporation (TSE:6465) completed the acquisition of majority stake in Technolux Equipment and Supply Corporation and HKR Equipment Corporation from TECHNO HOLDINGS CORPORATION and William A. Stelton. Hoshizaki Corporation (TSE:6465) agreed to acquire majority stake in Technolux Equipment and Supply Corporation and HKR Equipment Corporation from TECHNO HOLDINGS CORPORATION and William A. Stelton for PHP 4.2 billion on April 11, 2024. Hoshizaki Corporation will acquire 100% stake comprising of 200 million shares of TECHNOLUX for PHP 2.9 billion and 80% stake comprising of 0.8 million shares of HKR for PHP 1.3 billion. The acquisition is expected to close in May 2024.Hoshizaki Corporation (TSE:6465) completed the acquisition of majority stake in Technolux Equipment and Supply Corporation and HKR Equipment Corporation from TECHNO HOLDINGS CORPORATION and William A. Stelton on May 29, 2024. Announcement • May 17
Hoshizaki Corporation Provides Dividend Guidance for the Second Quarter-End of the Fiscal Year Ending December 31, 2024 Hoshizaki Corporation provided dividend guidance for the second quarter-end of the fiscal year ending December 31, 2024. For the second quarter-end, Company expects dividend of JPY 45.00 per share against JPY 30.00 per share paid a year ago. Announcement • May 16
Hoshizaki Corporation Provides Dividend Guidance for the Fiscal Year Ending December 31, 2024 Hoshizaki Corporation provided dividend guidance for the fiscal year ending December 31, 2024. For the year, Company expects dividend of JPY 50.00 per share against JPY 65.00 per share paid a year ago. Buy Or Sell Opportunity • May 13
Now 29% overvalued The stock has been flat over the last 90 days, currently trading at €34.60. The fair value is estimated to be €26.87, however this is not to be taken as a sell 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 23%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 5.7% per annum over the same time period. Reported Earnings • May 13
First quarter 2024 earnings released: EPS: JP¥63.55 (vs JP¥60.27 in 1Q 2023) First quarter 2024 results: EPS: JP¥63.55 (up from JP¥60.27 in 1Q 2023). Revenue: JP¥106.3b (up 17% from 1Q 2023). Net income: JP¥9.21b (up 5.4% from 1Q 2023). Profit margin: 8.7% (in line with 1Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 12
Hoshizaki Corporation (TSE:6465) announces an Equity Buyback for 2,500,000 shares, representing 1.73% for ¥10,000 million. Hoshizaki Corporation (TSE:6465) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 1.73% of its issued share capital, for ¥ 10,000 million. The purpose of the program is to increase corporate value by enhancing shareholder returns and improving capital efficiency. The program is valid till September 20, 2024. As of March 31, 2024, the company had 144,872,471 shares (excluding treasury stock) and 3,429 shares in treasury. Declared Dividend • Apr 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th June 2024 Payment date: 12th September 2024 Dividend yield will be 134%, which is higher than the industry average of 2.6%. Sustainability & Growth The dividend has increased by an average of 17% 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. Buy Or Sell Opportunity • Mar 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.3% to €33.60. The fair value is estimated to be €27.83, however this is not to be taken as a sell 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 26%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 5.8% per annum over the same time period. Announcement • Mar 05
Hoshizaki Corporation (TSE:6465) acquired additional 51% stake in Oztiryakiler Madeni Esya Sanayi Ve Ticaret Anonim Sirketi. Hoshizaki Corporation (TSE:6465) acquired additional 51% stake in Oztiryakiler Madeni Esya Sanayi Ve Ticaret Anonim Sirketi on March 4, 2024.
Hoshizaki Corporation (TSE:6465) completed the acquisition of additional 51% stake in Oztiryakiler Madeni Esya Sanayi Ve Ticaret Anonim Sirketi on March 4, 2024. Announcement • Feb 29
Hoshizaki Corporation to Report Q1, 2024 Results on May 10, 2024 Hoshizaki Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: JP¥227 (vs JP¥168 in FY 2022) Full year 2023 results: EPS: JP¥227 (up from JP¥168 in FY 2022). Revenue: JP¥373.6b (up 16% from FY 2022). Net income: JP¥32.8b (up 35% from FY 2022). Profit margin: 8.8% (up from 7.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Machinery 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 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to €33.80. The fair value is estimated to be €27.97, 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 26%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 7.1% per annum over the same time period. Announcement • Dec 28
Hoshizaki Corporation to Report Fiscal Year 2023 Results on Feb 13, 2024 Hoshizaki Corporation announced that they will report fiscal year 2023 results on Feb 13, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥40.00 per share at 1.4% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 08 March 2024. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.7%). Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: JP¥69.62 (vs JP¥68.12 in 3Q 2022) Third quarter 2023 results: EPS: JP¥69.62 (up from JP¥68.12 in 3Q 2022). Revenue: JP¥98.4b (up 11% from 3Q 2022). Net income: JP¥10.1b (up 2.2% from 3Q 2022). Profit margin: 10% (in line with 3Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery 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 10% per year, which means it is significantly lagging earnings. Announcement • Nov 11
Hoshizaki Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2023 Hoshizaki Corporation provided consolidated earnings guidance for the fiscal year ending December 31, 2023. For the year, the company expects net sales of JPY 355,000 million, operating profit of JPY 37,000 million, profit attributable to owners of parent of JPY 29,000 million and earnings per share of JPY 200.19. Announcement • Aug 27
Hoshizaki Corporation to Report Q3, 2023 Results on Nov 10, 2023 Hoshizaki Corporation announced that they will report Q3, 2023 results on Nov 10, 2023 Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: JP¥77.31 (vs JP¥59.98 in 2Q 2022) Second quarter 2023 results: EPS: JP¥77.31 (up from JP¥59.98 in 2Q 2022). Revenue: JP¥93.2b (up 20% from 2Q 2022). Net income: JP¥11.2b (up 29% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
Hoshizaki Corporation Revises Financial Guidance for the Full Fiscal Year Ending December 31, 2023 Hoshizaki Corporation revised financial guidance for the full fiscal year ending December 31, 2023. For the period, the company expected net sales of JPY 355,000 million against the previous guidance of JPY 350,000 million, operating profit of JPY 37,000 million against 34,000 million, Profit attributable to owners of parent of JPY 29,000 million against JPY 23,300 million, Earnings per share of JPY 200.19 against JPY 160.84. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥30.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.8%). Announcement • May 28
Hoshizaki Corporation to Report Q2, 2023 Results on Aug 10, 2023 Hoshizaki Corporation announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: JP¥60.27 (vs JP¥54.58 in 1Q 2022) First quarter 2023 results: EPS: JP¥60.27 (up from JP¥54.58 in 1Q 2022). Revenue: JP¥90.6b (up 25% from 1Q 2022). Net income: JP¥8.73b (up 10% from 1Q 2022). Profit margin: 9.6% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: JP¥168 (vs JP¥150 in FY 2021) Full year 2022 results: EPS: JP¥168 (up from JP¥150 in FY 2021). Revenue: JP¥321.3b (up 17% from FY 2021). Net income: JP¥24.3b (up 12% from FY 2021). Profit margin: 7.6% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery 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 only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥168 (vs JP¥150 in FY 2021) Full year 2022 results: EPS: JP¥168 (up from JP¥150 in FY 2021). Revenue: JP¥321.3b (up 17% from FY 2021). Net income: JP¥24.3b (up 12% from FY 2021). Profit margin: 7.6% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery 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 10% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Hoshizaki Corporation, Annual General Meeting, Mar 29, 2023 Hoshizaki Corporation, Annual General Meeting, Mar 29, 2023. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 04 March 2023. Payout ratio is a comfortable 40% but the company is paying out more than the cash it is generating. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.8%). Announcement • Dec 06
Hoshizaki Corporation to Report Fiscal Year 2022 Results on Feb 10, 2023 Hoshizaki Corporation announced that they will report fiscal year 2022 results on Feb 10, 2023 Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: JP¥68.12 (vs JP¥34.59 in 3Q 2021) Third quarter 2022 results: EPS: JP¥68.12 (up from JP¥34.59 in 3Q 2021). Revenue: JP¥88.8b (up 24% from 3Q 2021). Net income: JP¥9.87b (up 97% from 3Q 2021). Profit margin: 11% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. 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. 7 non-independent directors. Independent Outside Director Masahiko Goto was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: JP¥68.12 (vs JP¥34.59 in 3Q 2021) Third quarter 2022 results: EPS: JP¥68.12 (up from JP¥34.59 in 3Q 2021). Revenue: JP¥88.8b (up 24% from 3Q 2021). Net income: JP¥9.87b (up 97% from 3Q 2021). Profit margin: 11% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Aug 28
Hoshizaki Corporation to Report Q3, 2022 Results on Nov 09, 2022 Hoshizaki Corporation announced that they will report Q3, 2022 results on Nov 09, 2022 Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: JP¥2,749,367 (vs JP¥33.78 in 2Q 2021) Second quarter 2022 results: EPS: JP¥2,749,367 (up from JP¥33.78 in 2Q 2021). Revenue: JP¥77.7b (up 14% from 2Q 2021). Net income: JP¥8.69b (up 78% from 2Q 2021). Profit margin: 11% (up from 7.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.6%, compared to a 9.5% growth forecast for the industry in Germany. 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 1% per year. Announcement • May 29
Hoshizaki Corporation to Report Q2, 2022 Results on Aug 08, 2022 Hoshizaki Corporation announced that they will report Q2, 2022 results on Aug 08, 2022 Reported Earnings • May 13
First quarter 2022 earnings released: EPS: JP¥109 (vs JP¥108 in 1Q 2021) First quarter 2022 results: EPS: JP¥109 (up from JP¥108 in 1Q 2021). Revenue: JP¥72.6b (up 5.8% from 1Q 2021). Net income: JP¥7.91b (up 1.5% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 6.5%, compared to a 9.1% growth forecast for the 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 only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Apr 08
Hoshizaki Corporation to Report Q1, 2022 Results on May 11, 2022 Hoshizaki Corporation announced that they will report Q1, 2022 results on May 11, 2022 Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: JP¥299 (up from JP¥158 in FY 2020). Revenue: JP¥274.4b (up 15% from FY 2020). Net income: JP¥21.7b (up 90% from FY 2020). Profit margin: 7.9% (up from 4.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 6.7%, compared to a 10% growth forecast for the 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 increased by 3% per year, which means it is well ahead of earnings. Announcement • Feb 09
Hoshizaki Corporation, Annual General Meeting, Mar 23, 2022 Hoshizaki Corporation, Annual General Meeting, Mar 23, 2022. Upcoming Dividend • Dec 23
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 08 March 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (1.2%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥69.19 (vs JP¥56.19 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥71.4b (up 14% from 3Q 2020). Net income: JP¥5.01b (up 23% from 3Q 2020). Profit margin: 7.0% (up from 6.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS JP¥67.56 (vs JP¥13.55 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥68.1b (up 40% from 2Q 2020). Net income: JP¥4.89b (up 399% from 2Q 2020). Profit margin: 7.2% (up from 2.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2021 earnings released: EPS JP¥108 (vs JP¥75.99 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: JP¥68.6b (down 5.5% from 1Q 2020). Net income: JP¥7.79b (up 42% from 1Q 2020). Profit margin: 11% (up from 7.6% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS JP¥158 (vs JP¥337 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥238.3b (down 18% from FY 2019). Net income: JP¥11.4b (down 53% from FY 2019). Profit margin: 4.8% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥158 (vs JP¥337 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥238.3b (down 18% from FY 2019). Net income: JP¥11.4b (down 53% from FY 2019). Profit margin: 4.8% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 11
Revenue beats expectations Revenue exceeded analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 7.0%, compared to a 5.0% growth forecast for the Machinery industry in Germany. Announcement • Feb 08
Hoshizaki Corporation, Annual General Meeting, Mar 25, 2021 Hoshizaki Corporation, Annual General Meeting, Mar 25, 2021. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥110 Per Share Will be paid on the 9th of March to those who are registered shareholders by the 29th of December. The trailing yield of 1.1% is below the top quartile of German dividend payers (3.5%), and is lower than industry peers (1.8%). Announcement • Dec 05
Hoshizaki Corporation to Report Fiscal Year 2020 Results on Feb 08, 2021 Hoshizaki Corporation announced that they will report fiscal year 2020 results on Feb 08, 2021 Announcement • Sep 04
Hoshizaki Corporation to Report Q3, 2020 Results on Nov 09, 2020 Hoshizaki Corporation announced that they will report Q3, 2020 results on Nov 09, 2020