Buy Or Sell Opportunity • Jun 12
Now 22% overvalued Over the last 90 days, the stock has fallen 5.6% to €143. The fair value is estimated to be €117, 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 17%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 8.5% per annum over the same time period. Announcement • May 28
Hoya Corporation Announces Year End Dividend for the Year Ended March 31, 2026, Payable on June 5, 2026 HOYA Corporation announced that the Board of Directors, at its meeting held on May 28, 2026 resolved to pay the year-end dividends to the shareholders registered as of March 31, 2026. The company resolved to pay a dividend of JPY 170.00 per share for the fiscal year ended March 31, 2026 as compared to JPY 115.00 per share in the previous year. Date of payment: June 5, 2026 and record date is March 31, 2026. The Company aims to maximize corporate value by flexibly changing the business portfolio in response to changing the environment surrounding the company. The company aims to enhance sustainable corporate value by allocating profits earned through business activities to growth investments. In addition,the company will strive to achieve capital efficiency and financial soundness by maintaining a balance between internal reserves for growth strategies and optimal shareholder returns. Regarding shareholder returns,the company is returning profits to the shareholders through dividends and share buybacks using excess cash, while continuing to make investments that contribute to the long-term enhancement of corporate value. Regarding dividends, the company will aim to pay stable and sustainable dividends based on a progressive dividend policy with a target payout ratio of 40%. The company will continue to strive to balance growth investments to enhance corporate value with returns to the shareholders. By the above policy, the company has decided to pay a year-end dividend of JPY 170 per share for the fiscal year ended March 31,2026. Together with the interim dividend of JPY 125 per share already paid, the annual dividend is JPY 295 per share. Board Change • May 21
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Mototsugu Sato was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 10
HOYA Corporation to Report Q3, 2027 Results on Feb 01, 2027 HOYA Corporation announced that they will report Q3, 2027 results on Feb 01, 2027 Announcement • Apr 30
HOYA Corporation, Annual General Meeting, Jun 26, 2026 HOYA Corporation, Annual General Meeting, Jun 26, 2026. Announcement • Apr 21
HOYA Corporation to Report Fiscal Year 2026 Results on Apr 30, 2026 HOYA Corporation announced that they will report fiscal year 2026 results on Apr 30, 2026 Announcement • Jan 30
HOYA Corporation (TSE:7741) announces an Equity Buyback for 500,000 shares, representing 1.48% for ¥100,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 1.48% of its total shares outstanding excluding treasury shares, for a total of ¥100,000 million. The purpose of repurchase program is to strengthen shareholder returns, improve capital efficiency, and implement flexible capital policies. Purchased stocks are planned to be cancelled with the aim of shareholders’ benefit. The repurchase program is valid till July 17, 2026. As of August 1, 2025, the company had 338,078,276 shares outstanding excluding treasury shares and had 336,044 shares in treasury. Announcement • Oct 31
HOYA Corporation Announces Interim Dividend for the Fiscal Year Ending March 31, 2026, Payable on November 28, 2025 HOYA Corporation announced that the Board of Directors, at its meeting held on October 31, 2025, resolved to pay the interim dividend of JPY 125.00 per share to the shareholders registered as of September 30, 2025, against previous dividend of JPY 45.00 per share paid a year ago. Date of payment is November 28, 2025. Announcement • Sep 24
PENTAX Medical and Advanced Sterilization Products Launch the Sterilizable Dec™? Duodenoscope PENTAX Medical, in partnership with Advanced Sterilization Products (ASP), announces the U.S. launch of the Sterilizable DEC™? Duodenoscope, a revolutionary reusable duodenoscope that delivers the predictable handling physicians expect, now with the option for complete sterilization in just 68 minutes using ASP's STERRAD™? System. Unlike single-use alternatives, this next-generation endoscope is engineered for sterility, stability, and control, helping physicians navigate procedures with confidence--while supporting infection prevention and improved operational efficiency. Developed in response to long-standing concerns around cross-contamination, the system enables facilities to enhance infection control with rapid sterilization capabilities and a safer, more sustainable reprocessing experience. Built-in sterilization compatibility allows facilities to tailor workflows without compromising safety--supporting staff, patients, and environmental goals. The product became available in the U.S. beginning July 1, 2025. Announcement • Aug 21
HOYA Corporation (TSE:7741) announces an Equity Buyback for 6,200,000 shares, representing 1.81% for ¥100,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 6,200,000 shares, representing 1.81% of its total shares outstanding excluding treasury shares, for a total of ¥100,000 million. The purpose of repurchase program is to strengthen shareholder returns, improve capital efficiency, and implement flexible capital policies. The repurchase program is valid till January 21, 2026. As of August 1, 2025, the company had 342,762,990 shares outstanding excluding treasury shares and had 359,630 shares in treasury. Announcement • Aug 20
Hoya Vision Care Raises the Bar with Sun Lenses Designed for Optimum Performance and Lasting Durability HOYA®? Vision Care has raised the bar in sun lens solutions for eye care professionals. This summer alone, HOYA launched three innovative sun lens products: HOYA Polarized™?, HOYA Polarized HEV™?, and HOYA Polarized Lenses with Lumacore™? Mirrors. HOYA's polarized lens portfolio showcases the company's advanced technologies, including embedded mirror coatings, solar blue light filtration, and fashion-forward color options, catering to a wide range of patient lifestyles and visual needs. HOYA Polarized L lenses with Lumacore™?Mirrors are designed for long-lasting performance, using embedded mirror technology that resists scratching, peeling, and fading beyond traditional coatings. By integrating the mirror color directly into the lens, Lumacore ensures superior durability, enhanced clarity, and reduced glare for a more comfortable visual experience. Designed to withstand everyday wear, these lenses are easy to maintain and keep their bold, vibrant look over time. HOYA Polarized™ lenses combine style and performance, offering three fashion-forward colors and gradient options to suit any look. Available in a wide range of designs, including LifeStyle 3 Sun, and compatible with new HOYA mirror coatings, these lenses help reduce glare and unpleasant reflections in excessive sunlight, increasing visual comfort. With features like enhanced contrast for night driving and added UV protection, HOYA Polarized lenses meet everyday lifestyle needs. HOYA Polarized HEV™ lenses provide contrast-rich vision and offer 97% solar blue light protection. They are darker than standard polarized options, improving comfort in bright conditions while enhancing contrast and visual clarity. Designed for durability, they are available in impact-resistant polycarbonate in gray, brown, and green. Now through September 30, 2025, new and current Visionary Alliance members can earn additional rewards on HOYA polarized lenses. The promotion includes HOYA's new HOYA Polarized Lenses with Lumacore™ Mirrors, HOYA Polarized™, and HOYA Polarized HEV™ lens orders. ECPs who wish to participate but aren't currently members can enroll in the program without commitments or contracts. Announcement • Jun 13
HOYA Corporation Receives Written Verdict from the Tokyo District Court HOYA Corporation announced that it received a written verdict from the Tokyo District Court (the Court) regarding the lawsuit filed to cancel the reassessment based on the transfer pricing taxation. The Company had previously received a reassessment notice from the Tokyo Regional Taxation Bureau in June 2013, based on transfer pricing taxation regarding transactions with Company's overseas subsidiaries from the fiscal year ended March 31, 2007 through the fiscal year ending March 31, 2011. Subsequently, received a written decision from the National Tax Tribunal to rescind a part of the disposition in request for review. However, there is a discrepancy with claim regarding the part of the disposition that was not rescinded, so the filed a lawsuit with the Court in September 2018 to request the revocation of this reassessment and have been submitting with the proceedings. The company has recently received a ruling from the Court that cancels about JPY 1.3 billion in corporate tax, local taxes, and others, out of the amount of the reassessment. The Company disagrees with the other findings of the Court's verdict that maintains portions of the reassessment and expects to appeal to the findings in the Court to seek cancellation of all the reassessments in accordance with the relevant law. This result is not expected to materially impact HOYA's financial performance on a consolidated basis. Announcement • May 01
HOYA Corporation, Annual General Meeting, Jun 26, 2025 HOYA Corporation, Annual General Meeting, Jun 26, 2025. Announcement • Feb 28
HOYA Corporation to Report Fiscal Year 2025 Results on May 01, 2025 HOYA Corporation announced that they will report fiscal year 2025 results on May 01, 2025 Announcement • Feb 03
HOYA Corporation (TSE:7741) announces an Equity Buyback for 3,000,000 shares, representing 0.87% for ¥50,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 0.87% of its total shares outstanding excluding treasury shares, for a total of ¥50,000 million. The purpose of repurchase program is to strengthen shareholder returns, improve capital efficiency, and implement flexible capital policies. The repurchase program is valid till April 21, 2025. As of February 3, 2025, the company had 345,481,111 shares outstanding excluding treasury shares and had 2,845,309 shares in treasury. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥152 (vs JP¥134 in 2Q 2024) Second quarter 2025 results: EPS: JP¥152 (up from JP¥134 in 2Q 2024). Revenue: JP¥214.7b (up 9.5% from 2Q 2024). Net income: JP¥52.9b (up 12% from 2Q 2024). Profit margin: 25% (in line with 2Q 2024). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 01
HOYA Corporation (TSE:7741) announces an Equity Buyback for 3,000,000 shares, representing 0.86% for ¥50,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 0.86% of its total shares outstanding excluding treasury shares, for a total of ¥50,000 million. The purpose of repurchase program is to strengthen shareholder returns, improve capital efficiency, and implement flexible capital policies. The repurchase program is valid till January 22, 2025. As of September 30, 2024, the company had 347,922,719 shares outstanding excluding treasury shares and had 3,036,001 shares in treasury. Announcement • Oct 31
HOYA Corporation Announces Interim Dividend for the Fiscal Year Ending March 31, 2025, Payable on November 29, 2024 HOYA Corporation announced that the Board of Directors, at its meeting held on October 31, 2024, resolved to pay the interim dividend of JPY 45.00 per share to the shareholders registered as of September 30, 2024, against previous dividend of JPY 45.00 per share paid a year ago. Date of payment is November 29, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.9%). Announcement • Aug 06
Advanced Sterilization Products Announces FDA Clearance for Revolutionary Sterilization Cycle for Duodenoscopes in Partnership with PENTAX Medical, a Division of HOYA Advanced Sterilization Products (ASP), a division of Fortive, in collaboration with PENTAX Medical, a division of HOYA, announced the FDA clearance of the new ULTRA GI™ Cycle in its product, the STERRAD™ 100NX Sterilizer with ALLClear™ Technology. The ULTRA GI™ Cycle is specifically and uniquely designed to reprocess duodenoscopes using hydrogen peroxide gas plasma sterilization. The FDA clearance marks a significant milestone in advancing patient safety and addressing the challenges associated with current reprocessing methods for duodenoscopes. This sterilization cycle is set to revolutionize sterilization practices in healthcare facilities, ensuring a new standard of safety and efficacy. Duodenoscopes have been under scrutiny due to their relatively high contamination rates, prompting the urgent need for a robust sterilization solution. The collaborative effort between ASP and PENTAX Medical has resulted in an innovative method that not only meets but exceeds industry standards, providing healthcare professionals with a powerful tool to enhance patient safety. Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥135 (vs JP¥108 in 1Q 2024) First quarter 2025 results: EPS: JP¥135 (up from JP¥108 in 1Q 2024). Revenue: JP¥213.8b (up 17% from 1Q 2024). Net income: JP¥47.2b (up 23% from 1Q 2024). Profit margin: 22% (up from 21% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 18
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 37%, which is higher than the industry average of 1.7%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 21%. Buy Or Sell Opportunity • Jul 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to €119. The fair value is estimated to be €97.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 9.0%. For the next 3 years, revenue is forecast to grow by 7.4% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: JP¥515 (vs JP¥470 in FY 2023) Full year 2024 results: EPS: JP¥515 (up from JP¥470 in FY 2023). Revenue: JP¥762.6b (up 5.4% from FY 2023). Net income: JP¥181.4b (up 7.6% from FY 2023). Profit margin: 24% (in line with FY 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 25
Hoya Corporation Announces Dividend for the Year Ending March 31, 2024, Payable on June 10, 2024 HOYA Corporation announced dividend of JPY 65 per share compared to JPY 65 per share a year ago. Date of payment June 10, 2024. Announcement • May 17
HOYA Corporation, Annual General Meeting, Jun 27, 2024 HOYA Corporation, Annual General Meeting, Jun 27, 2024. Reported Earnings • May 17
Full year 2024 earnings released: EPS: JP¥515 (vs JP¥470 in FY 2023) Full year 2024 results: EPS: JP¥515 (up from JP¥470 in FY 2023). Revenue: JP¥762.6b (up 5.4% from FY 2023). Net income: JP¥181.4b (up 7.6% from FY 2023). Profit margin: 24% (in line with FY 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 16
HOYA Corporation (TSE:7741) announces an Equity Buyback for 3,000,000 shares, representing 0.86% for ¥50,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 0.86% of its total shares outstanding excluding treasury shares, for a total of ¥50,000 million. The purpose of repurchase program is to strengthen shareholder returns, improve capital efficiency, and implement flexible capital policies. The repurchase program is valid till August 15, 2024. As of March 31, 2024, the company had 350,521,475 shares outstanding excluding treasury shares and had 437,245 shares in treasury. Buy Or Sell Opportunity • May 15
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 1.9% to €115. The fair value is estimated to be €92.11, 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 11%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Buy Or Sell Opportunity • Apr 25
Now 20% overvalued Over the last 90 days, the stock has fallen 2.5% to €113. The fair value is estimated to be €93.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.7%). Declared Dividend • Mar 03
Dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 28th March 2024 Payment date: 3rd June 2024 Dividend yield will be 53%, which is higher than the industry average of 1.7%. Payout Ratios Payout ratio: 33%. Cash payout ratio: 23%. Announcement • Mar 02
HOYA Corporation to Report Fiscal Year 2024 Results on May 01, 2024 HOYA Corporation announced that they will report fiscal year 2024 results on May 01, 2024 Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: JP¥110 (vs JP¥85.89 in 3Q 2023) Third quarter 2024 results: EPS: JP¥110 (up from JP¥85.89 in 3Q 2023). Revenue: JP¥194.8b (up 11% from 3Q 2023). Net income: JP¥38.7b (up 26% from 3Q 2023). Profit margin: 20% (up from 17% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Nov 02
Hoya Corporation Announces Interim Dividend for the Six Months Ended September 30, 2023 HOYA Corporation announced interim dividend of JPY 45.00 per share for the six months ended September 30, 2023 compared to JPY 45.00 per share paid a year ago. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥134 (vs JP¥131 in 2Q 2023) Second quarter 2024 results: EPS: JP¥134 (up from JP¥131 in 2Q 2023). Revenue: JP¥188.7b (flat on 2Q 2023). Net income: JP¥47.4b (flat on 2Q 2023). Profit margin: 25% (in line with 2Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥45.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.0%). Announcement • Aug 27
HOYA Corporation to Report Q3, 2024 Results on Feb 01, 2024 HOYA Corporation announced that they will report Q3, 2024 results on Feb 01, 2024 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥108 (vs JP¥133 in 1Q 2023) First quarter 2024 results: EPS: JP¥108 (down from JP¥133 in 1Q 2023). Revenue: JP¥182.3b (up 1.2% from 1Q 2023). Net income: JP¥38.2b (down 21% from 1Q 2023). Profit margin: 21% (down from 27% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
HOYA Corporation (TSE:7741) announces an Equity Buyback for 3,600,000 shares, representing 1.02% for ¥50,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 3,600,000 shares, representing 1.02% of its total outstanding share capital, excluding treasury stock, for a total purchase price of ¥50,000 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and implement flexible capital policies. The program will continue through October 20, 2023. As of July 25, 2023, the company had 353,625,331 outstanding shares (excluding treasury stock) and 463,189 treasury shares. Announcement • Jul 29
HOYA Corporation to Report Q2, 2024 Results on Oct 31, 2023 HOYA Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Announcement • Jun 28
HOYA Corporation to Report Q1, 2024 Results on Jul 31, 2023 HOYA Corporation announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 09
Full year 2023 earnings released: EPS: JP¥470 (vs JP¥446 in FY 2022) Full year 2023 results: EPS: JP¥470 (up from JP¥446 in FY 2022). Revenue: JP¥723.6b (up 9.4% from FY 2022). Net income: JP¥168.6b (up 2.5% from FY 2022). Profit margin: 23% (down from 25% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥85.90 (vs JP¥111 in 3Q 2022) Third quarter 2023 results: EPS: JP¥85.90 (down from JP¥111 in 3Q 2022). Revenue: JP¥173.5b (up 1.3% from 3Q 2022). Net income: JP¥30.6b (down 25% from 3Q 2022). Profit margin: 18% (down from 24% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment 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 only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 01
HOYA Corporation (TSE:7741) announces an Equity Buyback for 3,600,000 shares, representing 1.01% for ¥40,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 3,600,000 shares, representing 1.01% of its total outstanding share capital, excluding treasury stock, for a total purchase price of ¥40,000 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency, and implement flexible capital policies. The program will continue through April 20, 2023. As of January 25, 2023, the company had 356,434,731 outstanding shares (excluding treasury stock) and 525,789 treasury shares. Announcement • Dec 28
HOYA Corporation to Report Q3, 2023 Results on Jan 31, 2023 HOYA Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Mika Nishimura was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: JP¥131 (vs JP¥116 in 2Q 2022) Second quarter 2023 results: EPS: JP¥131 (up from JP¥116 in 2Q 2022). Revenue: JP¥184.1b (up 13% from 2Q 2022). Net income: JP¥47.1b (up 9.6% from 2Q 2022). Profit margin: 26% (in line with 2Q 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Sep 28
HOYA Corporation to Report Q2, 2023 Results on Oct 27, 2022 HOYA Corporation announced that they will report Q2, 2023 results on Oct 27, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.8%). Board Change • Sep 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Mika Nishimura was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 06
First quarter 2023 earnings released: EPS: JP¥133 (vs JP¥112 in 1Q 2022) First quarter 2023 results: EPS: JP¥133 (up from JP¥112 in 1Q 2022). Revenue: JP¥180.2b (up 14% from 1Q 2022). Net income: JP¥48.4b (up 17% from 1Q 2022). Profit margin: 27% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 7.0%, compared to a 7.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 16% per year. Announcement • Aug 05
HOYA Corporation (TSE:7741) announces an Equity Buyback for 5,200,000 shares, representing 1.44% for ¥60,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 5,200,000 shares, representing 1.44% of its total outstanding share capital, excluding treasury stock, for a total purchase price of ¥60,000 million. The purpose of the program is to acquire its own shares for shareholders’ benefit, improving capital efficiency and ensuring a flexible capital policy. All the repurchased shares will be cancelled. The program will continue through October 20, 2022. As of July 31, 2022, the company had 360,498,644 outstanding shares (excluding treasury stock) and 5,280,776 treasury shares. Announcement • Jun 29
HOYA Corporation to Report Q1, 2023 Results on Aug 04, 2022 HOYA Corporation announced that they will report Q1, 2023 results on Aug 04, 2022 Buying Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €111, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is also forecast to grow by 8.2% per annum over the same time period. Announcement • May 27
Hoya Corporation Announces Dividend for the Fiscal Year Ended March 31, 2022, Payable on June 1, 2022 The board of directors of HOYA Corporation at its meeting held on May 26, 2022, announced a dividend of JPY 65.00 per share for the Fiscal Year Ended March 31, 2022, payable on June 1, 2022 compared with JPY 45.00 per share in 2021. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥446 (vs JP¥336 in FY 2021) Full year 2022 results: EPS: JP¥446 (up from JP¥336 in FY 2021). Revenue: JP¥661.5b (up 21% from FY 2021). Net income: JP¥164.5b (up 31% from FY 2021). Profit margin: 25% (up from 23% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.4%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Announcement • May 08
HOYA Corporation, Annual General Meeting, Jun 28, 2022 HOYA Corporation, Annual General Meeting, Jun 28, 2022. Announcement • May 06
HOYA Corporation Announces Forecast for the Year-End Dividend for the Fiscal Year Ended March 31, 2022 HOYA Corporation announced the forecast for the year-end dividend for the fiscal year ended March 31, 2022. The Company plans to pay an annual dividend of JPY 110 per share, including a year-end dividend of JPY 65. Buying Opportunity • Mar 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be JP¥125, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.9% per annum over the last 3 years. Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥111 (up from JP¥98.17 in 3Q 2021). Revenue: JP¥171.3b (up 17% from 3Q 2021). Net income: JP¥40.9b (up 11% from 3Q 2021). Profit margin: 24% (down from 25% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 6.6%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 02
HOYA Corporation (TSE:7741) announces an Equity Buyback for 4,600,000 shares, representing 1.25% for ¥60,000 million. HOYA Corporation (TSE:7741) announces a share repurchase program. Under the program, the company will repurchase up to 4,600,000 shares, representing 01.25% of its total outstanding share capital, excluding treasury stock, for a total purchase price of ¥60,000 million. The purpose of the program is to acquire its own shares for shareholders’ benefit, improving capital efficiency, and ensuring a flexible capital policy. All the repurchased shares will be cancelled. The program will continue through April 20, 2022. As of January 31, 2022, the company had 368,984,530 outstanding shares (excluding treasury stock) and 717,490 treasury shares. Announcement • Feb 01
HOYA Corporation Provides Earnings Guidance for the Year Ending March 31, 2022 HOYA Corporation provided earnings guidance for the year ending March 31, 2022. For the period, the company expects revenue of ¥655,000 million, profit for the term of ¥163,000 million and profit attributable to owners of the company of ¥163,000 million or ¥441.80 per basic share. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥116 (vs JP¥84.97 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥162.6b (up 16% from 2Q 2021). Net income: JP¥43.0b (up 35% from 2Q 2021). Profit margin: 26% (up from 23% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (0.8%). Reported Earnings • Jul 30
First quarter 2022 earnings released: EPS JP¥112 (vs JP¥69.07 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥158.0b (up 45% from 1Q 2021). Net income: JP¥41.3b (up 59% from 1Q 2021). Profit margin: 26% (up from 24% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥107, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 48x in the Medical Equipment industry in Germany. Total returns to shareholders of 122% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €73.84 per share. Reported Earnings • May 02
Full year 2021 earnings released: EPS JP¥336 (vs JP¥303 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥547.9b (down 5.0% from FY 2020). Net income: JP¥125.4b (up 9.6% from FY 2020). Profit margin: 23% (up from 20% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 04
HOYA Corporation to Report Fiscal Year 2021 Results on Apr 30, 2021 HOYA Corporation announced that they will report fiscal year 2021 results on Apr 30, 2021 Is New 90 Day High Low • Feb 25
New 90-day low: €96.00 The company is down 20% from its price of €120 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €80.72 per share. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥98.17 (vs JP¥78.45 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥146.9b (flat on 3Q 2020). Net income: JP¥36.7b (up 24% from 3Q 2020). Profit margin: 25% (up from 20% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 12%, compared to a 13% growth forecast for the Medical Equipment industry in Germany. Valuation Update With 7 Day Price Move • Nov 28
Market bids up stock over the past week After last week's 19% share price gain to JP¥120, the stock is trading at a trailing P/E ratio of 49.5x, up from the previous P/E ratio of 41.7x. This compares to an average P/E of 44x in the Medical Equipment industry in Germany. Total returns to shareholders over the past three years are 209%. Announcement • Nov 24
Dispelix Announces Partnership with Hoya Group Optics Division to Provide the Highest Quality Waveguide Displays for Form Factor, Image Quality, and Clarity for the AR & MR Wearables Market Dispelix and Hoya Corporation (Hoya) announced a partnership to ensure the AR & MR industry has access to the highest quality waveguide displays in the world. The partnership brings together Dispelix's waveguide display design capabilities and Hoya's unparalleled expertise in optical glass and lenses technologies, with Hoya supplying high refractive index glass wafers for Dispelix's single-layer and multi-layer diffractive AR waveguides for mass manufacturing. Is New 90 Day High Low • Nov 10
New 90-day high: €107 The company is up 33% from its price of €80.50 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €64.51 per share. Reported Earnings • Nov 10
Second quarter 2021 earnings released: EPS JP¥84.97 The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: JP¥140.3b (down 9.0% from 2Q 2020). Net income: JP¥31.8b (down 8.7% from 2Q 2020). Profit margin: 23% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 8.8%, compared to a 12% growth forecast for the Medical Equipment industry in Germany. Analyst Estimate Surprise Post Earnings • Oct 29
Semi-annual earnings released: Revenue beats expectations Semi-annual revenue exceeded analyst estimates by 0.4% at JP¥249.6b. Revenue is forecast to grow 9.1% over the next year, compared to a 11% growth forecast for the Medical Equipment industry in Germany. Reported Earnings • Oct 29
First half earnings released Over the last 12 months the company has reported total profits of JP¥107.2b, down 16% from the prior year. Total revenue was JP¥531.2b over the last 12 months, down 8.4% from the prior year. Is New 90 Day High Low • Oct 15
New 90-day high: €99.00 The company is up 14% from its price of €86.50 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €60.74 per share. Is New 90 Day High Low • Sep 22
New 90-day high: €92.00 The company is up 10.0% from its price of €83.50 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €59.10 per share. Announcement • Aug 10
HOYA Corporation to Report Q2, 2021 Results on Oct 27, 2020 HOYA Corporation announced that they will report Q2, 2021 results at 1:30 PM, Tokyo Standard Time on Oct 27, 2020 Announcement • Jun 28
HOYA Corporation to Report Q1, 2021 Results on Jul 28, 2020 HOYA Corporation announced that they will report Q1, 2021 results at 10:31 AM, GMT Standard Time on Jul 28, 2020 
