Board Change • 17h
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 Mariko Eto was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 27
Nitto Denko Corporation, Annual General Meeting, Jun 19, 2026 Nitto Denko Corporation, Annual General Meeting, Jun 19, 2026. Announcement • Mar 30
Nitto Denko Corporation (TSE:6988) announces an Equity Buyback for 20,000,000 shares, representing 2.97% for ¥50,000 million. Nitto Denko Corporation (TSE:6988) announces a share repurchase program. Under the program, the company will repurchase up to 20,000,000 shares, representing 2.97% of the outstanding shares for ¥50,000 million. The purpose of the program is to enable an execution of agile capital management policy following changes in the business environment as a part of the return to shareholders. The program will run until August 31, 2026. As of February 28, 2026, the company had 673,659,750 shares outstanding and 4,999,950 shares in treasury. Announcement • Mar 14
Nitto Denko Corporation to Report Fiscal Year 2026 Results on Apr 27, 2026 Nitto Denko Corporation announced that they will report fiscal year 2026 results on Apr 27, 2026 Announcement • Jan 27
Nitto Denko Corporation Revises Earnings Guidance for the Year Ending March 31, 2026 Nitto Denko Corporation revised earnings guidance for the year ending March 31, 2026. For the year, the company expects revenue of JPY 1,027,000 million, operating profit of JPY 186,000 million, net profit of JPY 136,000 million, profit attributable to owners of the parent of JPY 136,000 million, and basic earnings per share of JPY 200.56. Announcement • Dec 16
Nitto Denko Corporation to Report Q3, 2026 Results on Jan 26, 2026 Nitto Denko Corporation announced that they will report Q3, 2026 results on Jan 26, 2026 Announcement • Sep 13
Nitto Denko Corporation to Report Q2, 2026 Results on Oct 27, 2025 Nitto Denko Corporation announced that they will report Q2, 2026 results on Oct 27, 2025 Announcement • Jun 14
Nitto Denko Corporation to Report Q1, 2026 Results on Jul 28, 2025 Nitto Denko Corporation announced that they will report Q1, 2026 results on Jul 28, 2025 Announcement • Apr 25
Nitto Denko Corporation, Annual General Meeting, Jun 20, 2025 Nitto Denko Corporation, Annual General Meeting, Jun 20, 2025. Announcement • Mar 15
Nitto Denko Corporation to Report Fiscal Year 2025 Results on Apr 25, 2025 Nitto Denko Corporation announced that they will report fiscal year 2025 results on Apr 25, 2025 Announcement • Dec 14
Nitto Denko Corporation to Report Q3, 2025 Results on Jan 27, 2025 Nitto Denko Corporation announced that they will report Q3, 2025 results on Jan 27, 2025 Reported Earnings • Oct 29
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: JP¥272.4b (up 13% from 2Q 2024). Net income: JP¥43.8b (up 51% from 2Q 2024). Profit margin: 16% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Germany. Buy Or Sell Opportunity • Oct 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.4% to €14.60. The fair value is estimated to be €18.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 8.0%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. New Risk • Sep 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 193% Dividend yield: 11% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (193% cash payout ratio). Share price has been volatile over the past 3 months (7.5% average weekly change). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥140 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 25 November 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.1%). Announcement • Sep 14
Nitto Denko Corporation to Report Q2, 2025 Results on Oct 28, 2024 Nitto Denko Corporation announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Sep 04
Nitto Denko Corporation to Launch Counseling System in California, U.S Nitto Denko Corporation announced that it has launched sales of Counseling System in parts of California, United States from September 2024. Counseling System is a service that enables real-time analysis and visualization of a client's physiological data and feed it back to counselors and psychologists. Counseling System is a services that provides information useful to both the counselor and their clients, using a measurement device worn by the client to analyze and visualize physiological data (changes in blood flow) in real time as stress values generated by an algorithm developed by Nitto. Members from the American Psychological Association (APA) and other influential experts in the field of mental health are stress-Based Practice. Using a dedicated wearable device to obtain biofeedback, Counseling System has the potential to bring practical benefits to counselors, as it enables them to accurately grasp in real time the actions to and effects of counseling. From a client perspective too, by providing them information on the effects of received counseling in an objective and visually accessible format, it is anticipated that this information will help them to reaffirm the significance and value of counseling and maintain their motivation to continue receiving counseling care. The first target market under Counseling System's business strategy is the United States, where counseling has a strong presence. This year, its sales area is limited to parts of California, but Nitto aims to expand sales throughout the U.S. in the future. As of 2024, there are approximately 170,000 counselors holding a nationally recognized qualification in the U.S. The market for counseling is on a scale of JPY 1.78 trillion (as of 2022), and it is estimated that approximately 24.3 million clients are actually receiving counseling, and a further 28.6 million people are considered to be potentially in need of counseling care. The Nitto Group places ESG (Environment, Social, and Governance) at the core of its management and aims at simultaneously solving social issues and creating economic value. Positioning Power & Mobility, Digital Interface, and Human Life as the three focal domains, the group strives to become an essential company by leveraging the strengths of its technologies in the areas where these domains intersect with each other. Counseling System is a Service born from the fusion of multiple business areas, such as the optical technology that Nitto has cultivated through the development of polarizers and other products, and the development of Nitto's proprietary algorithms that are critical to the process of visualizing stress values. The Nitto Group will continue to develop its business in the digital health field, including Counseling System, and create new niche-top products that have never existed before. New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to €59.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Chemicals industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €96.54 per share. Reported Earnings • Jul 29
First quarter 2025 earnings released: EPS: JP¥257 (vs JP¥106 in 1Q 2024) First quarter 2025 results: EPS: JP¥257 (up from JP¥106 in 1Q 2024). Revenue: JP¥249.3b (up 20% from 1Q 2024). Net income: JP¥36.1b (up 138% from 1Q 2024). Profit margin: 14% (up from 7.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Declared Dividend • Jul 11
Final dividend of JP¥140 announced Shareholders will receive a dividend of JP¥140. Ex-date: 27th September 2024 Payment date: 25th November 2024 Dividend yield will be 188%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jun 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Mariko Eto was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥720 (vs JP¥739 in FY 2023) Full year 2024 results: EPS: JP¥720 (down from JP¥739 in FY 2023). Revenue: JP¥915.1b (down 1.5% from FY 2023). Net income: JP¥102.7b (down 5.9% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Announcement • Jun 15
Nitto Denko Corporation to Report Q1, 2025 Results on Jul 26, 2024 Nitto Denko Corporation announced that they will report Q1, 2025 results on Jul 26, 2024 Announcement • May 25
Nitto Denko Corporation Revises Dividend Guidance for the Full Year Ending March 31, 2025 Nitto Denko Corporation revised dividend guidance for the full year ending March 31, 2025. In conjunction with the stock split, the Company has revised the year-end dividend forecast forthe fiscal year ending March 31, 2025, which was announced on April 26, 2024, as follows. In this regard, revised forecast is the revision in conjunction with the stock split and there is no substantial change in the year-end dividend forecast per share in previous forecast. For the full year ending March 31, 2025, the company expects to pay dividend of JPY 140 per share compared to JPY 130 per share paid a year ago. Announcement • Apr 29
Nitto Denko Corporation, Annual General Meeting, Jun 21, 2024 Nitto Denko Corporation, Annual General Meeting, Jun 21, 2024. Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: JP¥720 (vs JP¥739 in FY 2023) Full year 2024 results: EPS: JP¥720 (down from JP¥739 in FY 2023). Revenue: JP¥915.1b (down 1.5% from FY 2023). Net income: JP¥102.7b (down 5.9% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Announcement • Apr 28
Nitto Denko Corporation Provides Earnings Guidance for the First Half and Full Fiscal Year Ending March 31, 2025 Nitto Denko Corporation provided earnings guidance for the first half and full fiscal year ending March 31, 2025. For the first half, the company expected revenue of JPY 448,000 million, Operating income to be JPY 68,500 million, Net income and Net income attributable to owners of the parent company to be JPY 48,000 million and Basic earnings per share of JPY 336.38.For the full year, the company expected revenue of JPY 910,000 million, Operating income to be JPY 140,000 million, Net income and Net income attributable to owners of the parent company to be JPY 100,000 million and Basic earnings per share of JPY 700.79. Buy Or Sell Opportunity • Apr 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €84.00. The fair value is estimated to be €69.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥130 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.8%). Announcement • Mar 14
Nitto Denko Corporation to Report Fiscal Year 2024 Results on Apr 26, 2024 Nitto Denko Corporation announced that they will report fiscal year 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Feb 21
Now 23% undervalued Over the last 90 days, the stock has risen 31% to €84.50. The fair value is estimated to be €109, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Buy Or Sell Opportunity • Feb 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to €79.50. The fair value is estimated to be €65.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Jan 29
Nitto Denko Corporation (TSE:6988) announces an Equity Buyback for 3,000,000 shares, representing 2.1% for ¥30,000 million. Nitto Denko Corporation (TSE:6988) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 2.1% of the outstanding shares for ¥30,000 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and a comprehensive shareholder return policy. The program will run until May 31, 2024. As of December 31, 2023, the company had 142,551,553 shares outstanding and 1,000,182 shares in treasury. Reported Earnings • Jan 28
Third quarter 2024 earnings released: EPS: JP¥262 (vs JP¥219 in 3Q 2023) Third quarter 2024 results: EPS: JP¥262 (up from JP¥219 in 3Q 2023). Revenue: JP¥244.6b (down 3.7% from 3Q 2023). Net income: JP¥37.4b (up 16% from 3Q 2023). Profit margin: 15% (up from 13% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 17
Nitto Denko Corporation to Report Q3, 2024 Results on Jan 26, 2024 Nitto Denko Corporation announced that they will report Q3, 2024 results on Jan 26, 2024 Reported Earnings • Oct 28
Second quarter 2024 earnings released: EPS: JP¥204 (vs JP¥250 in 2Q 2023) Second quarter 2024 results: EPS: JP¥204 (down from JP¥250 in 2Q 2023). Revenue: JP¥240.9b (down 10% from 2Q 2023). Net income: JP¥29.0b (down 21% from 2Q 2023). Profit margin: 12% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Chemicals 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 remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥130 per share at 2.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.9%). Announcement • Sep 17
Nitto Denko Corporation to Report Q2, 2024 Results on Oct 26, 2023 Nitto Denko Corporation announced that they will report Q2, 2024 results on Oct 26, 2023 Reported Earnings • Jul 27
First quarter 2024 earnings released: EPS: JP¥106 (vs JP¥179 in 1Q 2023) First quarter 2024 results: EPS: JP¥106 (down from JP¥179 in 1Q 2023). Revenue: JP¥208.5b (down 3.7% from 1Q 2023). Net income: JP¥15.2b (down 43% from 1Q 2023). Profit margin: 7.3% (down from 12% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Chemicals 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 only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jun 24
Nitto Denko Corporation to Report Q1, 2024 Results on Jul 26, 2023 Nitto Denko Corporation announced that they will report Q1, 2024 results on Jul 26, 2023 Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: JP¥739 (vs JP¥656 in FY 2022) Full year 2023 results: EPS: JP¥739 (up from JP¥656 in FY 2022). Revenue: JP¥929.0b (up 8.9% from FY 2022). Net income: JP¥109.2b (up 12% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥120 per share at 2.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • Jan 27
Third quarter 2023 earnings released: EPS: JP¥219 (vs JP¥174 in 3Q 2022) Third quarter 2023 results: EPS: JP¥219 (up from JP¥174 in 3Q 2022). Revenue: JP¥254.1b (up 15% from 3Q 2022). Net income: JP¥32.4b (up 26% from 3Q 2022). Profit margin: 13% (up from 12% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Nitto Denko Corporation (TSE:6988) announces an Equity Buyback for 7,000,000 shares, representing 4.73% for ¥50,000 million. Nitto Denko Corporation (TSE:6988) announces a share repurchase program. Under the program, the company will repurchase 7,000,000 shares, representing 4.73% of the outstanding shares for ¥50,000 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to improve total shareholder returns. The program will run until July 31, 2023. As of December 31, 2012, the company had 148,039,766 shares outstanding and 1,718,662 shares in treasury. Announcement • Dec 28
Nitto Denko Corporation Announces Resignation of Nobuhiro Todokoro as Representative Director Nitto Denko Corporation announced that the Company accepted the resignation of Nobuhiro Todokoro from Representative Director and Director effective from December 28, 2022 due to health reasons. Announcement • Dec 16
Nitto Denko Corporation to Report Q3, 2023 Results on Jan 26, 2023 Nitto Denko Corporation announced that they will report Q3, 2023 results on Jan 26, 2023 Announcement • Nov 09
Nitto Denko Corporation Announces Dividend for the Second Quarter Ended September 30, 2022, Payable on November 25, 2022; Provides Dividend Guidance for the Year 2023 Nitto Denko Corporation announced the cash dividend of JPY 120 per share for the second quarter ended September 30, 2022 against JPY 100 per share for the same period a year ago. Estimated starting date of dividend paying: November 25, 2022.For the year ending March 31, 2023, the company expects to pay dividend of JPY 120 per share compared to JPY 110 per share paid a year ago. Reported Earnings • Oct 27
Second quarter 2023 earnings released: EPS: JP¥250 (vs JP¥211 in 2Q 2022) Second quarter 2023 results: EPS: JP¥250 (up from JP¥211 in 2Q 2022). Revenue: JP¥268.5b (up 21% from 2Q 2022). Net income: JP¥37.0b (up 18% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%). Announcement • Sep 16
Nitto Denko Corporation to Report Q2, 2023 Results on Oct 26, 2022 Nitto Denko Corporation announced that they will report Q2, 2023 results on Oct 26, 2022 Reported Earnings • Jul 27
First quarter 2023 earnings released: EPS: JP¥179 (vs JP¥141 in 1Q 2022) First quarter 2023 results: EPS: JP¥179 (up from JP¥141 in 1Q 2022). Revenue: JP¥216.4b (up 6.2% from 1Q 2022). Net income: JP¥26.4b (up 27% from 1Q 2022). Profit margin: 12% (up from 10% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.2%, 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 29% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jul 02
Nitto Denko Corporation (TSE:6988) completed the acquisition of Mondi Gronau GmbH, Mondi Ascania GmbH, Mondi (China) Film Technology Co., Ltd. and Personal Care Components business of Mondi from Mondi Consumer Packaging International AG, Mondi Jackson LLC and Mondi Holding Deutschland GmbH. Nitto Denko Corporation (TSE:6988) agreed to acquire Mondi Gronau GmbH, Mondi Ascania GmbH, Mondi (China) Film Technology Co., Ltd. and Personal Care Components business of Mondi from Mondi Consumer Packaging International AG, Mondi Jackson LLC and Mondi Holding Deutschland GmbH for approximately €620 million on February 17, 2022. The closing of the Acquisition is subject to the completion of procedures related to antitrust clearance and regulatory authorities in Germany and other required countries, as well as other customary closing conditions. The deal is expected to close in Middle of 2022. The proceeds received from the transaction will be used for general corporate purposes in line with the Group’s capital allocation policy. Ernst & Young acted as Financial, Tax, IT and Carve-out due diligence services to Nitto Denko Corporation. Hengeler Mueller advised Nitto in an integrated team with Japanese law firm Nagashima Ohno & Tsunematsu on the transaction.
Nitto Denko Corporation (TSE:6988) completed the acquisition of Mondi Gronau GmbH, Mondi Ascania GmbH, Mondi (China) Film Technology Co., Ltd. and Personal Care Components business of Mondi from Mondi Consumer Packaging International AG, Mondi Jackson LLC and Mondi Holding Deutschland GmbH on July 1, 2022. Reported Earnings • Jun 22
Full year 2022 earnings released: EPS: JP¥656 (vs JP¥473 in FY 2021) Full year 2022 results: EPS: JP¥656 (up from JP¥473 in FY 2021). Revenue: JP¥853.4b (up 12% from FY 2021). Net income: JP¥97.1b (up 38% from FY 2021). Profit margin: 11% (up from 9.2% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.9%, compared to a 7.0% growth forecast for the 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 only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jun 15
Nitto Denko Corporation to Report Q1, 2023 Results on Jul 26, 2022 Nitto Denko Corporation announced that they will report Q1, 2023 results on Jul 26, 2022 Announcement • Jun 02
Nitto Denko Corporation (TSE:6988) acquired Bend Labs, Inc. Nitto Denko Corporation (TSE:6988) acquired Bend Labs, Inc. on June 1, 2022. Bend Labs starts its business as Nitto Bend Technologies, Inc. Bend Labs reported $5.9 million sales for FY2021. The impact of this acquisition on Nitto's consolidated earnings forecast for FY2022 is insignificant. In case significant effect is recognized, Nitto will report it thereafter.
Nitto Denko Corporation (TSE:6988) completed the acquisition of Bend Labs, Inc. on June 1, 2022. Reported Earnings • Apr 28
Full year 2022 earnings released: EPS: JP¥656 (vs JP¥473 in FY 2021) Full year 2022 results: EPS: JP¥656 (up from JP¥473 in FY 2021). Revenue: JP¥853.4b (up 12% from FY 2021). Net income: JP¥97.1b (up 38% from FY 2021). Profit margin: 11% (up from 9.2% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.4%, compared to a 10% growth forecast for the 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 only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Nitto Denko Corporation, Annual General Meeting, Jun 17, 2022 Nitto Denko Corporation, Annual General Meeting, Jun 17, 2022. Buying Opportunity • Apr 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.1%. The fair value is estimated to be €78.44, 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 17%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 6.0% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (4.8%). Announcement • Feb 18
Nitto Denko Corporation (TSE:6988) agreed to acquire Mondi Gronau GmbH, Mondi Ascania GmbH, Mondi (China) Film Technology Co., Ltd. and Personal Care Components business of Mondi from Mondi Consumer Packaging International AG, Mondi Jackson LLC and Mondi Holding Deutschland GmbH for approximately €620 million. Nitto Denko Corporation (TSE:6988) agreed to acquire Mondi Gronau GmbH, Mondi Ascania GmbH, Mondi (China) Film Technology Co., Ltd. and Personal Care Components business of Mondi from Mondi Consumer Packaging International AG, Mondi Jackson LLC and Mondi Holding Deutschland GmbH for approximately €620 million on February 17, 2022. The closing of the Acquisition is subject to the completion of procedures related to antitrust clearance and regulatory authorities in Germany and other required countries, as well as other customary closing conditions. The deal is expected to close in Middle of 2022. Buying Opportunity • Feb 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be JP¥83.23, 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 17% per annum over the last 3 years. Reported Earnings • Jan 29
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥174 (up from JP¥166 in 3Q 2021). Revenue: JP¥220.3b (up 5.7% from 3Q 2021). Net income: JP¥25.8b (up 4.9% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 1.4%, compared to a 5.7% growth forecast for the 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 10% per year, which means it is significantly lagging earnings growth. Announcement • Jan 26
Nitto Denko Corporation Announces Earnings Guidance for the Fiscal Year Ending March 31, 2022 Nitto Denko Corporation announced earnings guidance for the fiscal year ending March 31, 2022. For the full Fiscal Year, the company expects sales of JPY 855,000 million, Operating income of JPY 133,000 million, net income of JPY 95,000 million and net income per share of JPY 641.93. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS JP¥211 (vs JP¥125 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥222.2b (up 14% from 2Q 2021). Net income: JP¥31.3b (up 69% from 2Q 2021). Profit margin: 14% (up from 9.5% 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 8% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 27 November 2021. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.7%). Reported Earnings • Jul 27
First quarter 2022 earnings released: EPS JP¥141 (vs JP¥80.03 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥203.7b (up 25% from 1Q 2021). Net income: JP¥20.8b (up 73% from 1Q 2021). Profit margin: 10% (up from 7.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS JP¥473 (vs JP¥301 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥761.3b (up 2.7% from FY 2020). Net income: JP¥70.2b (up 49% from FY 2020). Profit margin: 9.2% (up from 6.4% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.6%). Announcement • Mar 13
Nitto Denko Corporation to Report Fiscal Year 2021 Results on Apr 26, 2021 Nitto Denko Corporation announced that they will report fiscal year 2021 results on Apr 26, 2021 Announcement • Jan 28
Nitto Denko Corporation Revises Earnings Guidance for the Second Half and Full Year Ending March 2020 Nitto Denko Corporation revised earnings guidance for the second half and full year ending March 2020. For the second half, the company expects revised revenue of JPY 397,263 million, operating Income of JPY 47,633 million and net income of JPY 34,427 million compared to previously expected revenue of JPY 357,263 million, operating Income of JPY 32,633 million and net income of JPY 21,427 million.
For the full year, the company expects revised revenue of JPY 755,000 million, operating Income of JPY 90,000 million and net income of JPY 65,000 million compared to previously expected revenue of JPY 715,000 million, operating Income of JPY 75,000 million and net income of JPY 52,000 million. Reported Earnings • Jan 27
Third quarter 2021 earnings released: EPS JP¥166 (vs JP¥86.20 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥208.5b (up 8.3% from 3Q 2020). Net income: JP¥24.6b (up 82% from 3Q 2020). Profit margin: 12% (up from 7.0% 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 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Jan 27
Revenue beats expectations Revenue exceeded analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 1.2%, compared to a 4.7% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Jan 27
New 90-day high: €81.00 The company is up 33% from its price of €61.00 on 29 October 2020. The German market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €49.17 per share. Announcement • Jan 25
Nitto Denko Corporation to Report Q3, 2021 Results on Jan 26, 2021 Nitto Denko Corporation announced that they will report Q3, 2021 results at 4:00 PM, Tokyo Standard Time on Jan 26, 2021 Is New 90 Day High Low • Dec 30
New 90-day high: €71.50 The company is up 31% from its price of €54.50 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €49.17 per share. Announcement • Oct 01
Nitto Denko Corporation Announces Split Absorption-Type Split with Consolidated Subsidiary Nissho Corporation Nitto Denko Corporation announced that it was decided at its Board of Directors meeting held on September 30, 2020 to split a portion of the external sales and parts converting operations of its domestic automotive business to be succeeded by its wholly-owned subsidiary Nissho Corporation through an absorption-type split (hereinafter, the "Absorption-type Split") with an effective date of April 1, 2021. Because the Absorption-type Split is an absorption-type split involving a wholly-owned subsidiary, disclosure of certain particulars and information has been omitted. The transportation sector, the core of which is the automotive industry, offers high growth potential and, as such, is one of the focus areas of the Company. Today, the ongoing COVID-19 global pandemic is having no small impact on the automotive industry, with the result that the competitive landscape within the industry and people's perceptions of mobility have begun to change. To further enhance its competitive edge in this fast- changing operating environment, the Company has decided to transfer a portion of the domestic external sales and parts converting operations of its Transportation Business Sector to Nissho. Nitto Denko Corporation (splitting company), Nissho Corporation (succeeding company). Announcement • Sep 03
Nitto Denko Corporation to Report Q2, 2021 Results on Oct 26, 2020 Nitto Denko Corporation announced that they will report Q2, 2021 results on Oct 26, 2020 
