Reported Earnings • May 15
Full year 2026 earnings released: EPS: JP¥119 (vs JP¥171 in FY 2025) Full year 2026 results: EPS: JP¥119 (down from JP¥171 in FY 2025). Revenue: JP¥50.1b (up 1.6% from FY 2025). Net income: JP¥2.35b (down 30% from FY 2025). Profit margin: 4.7% (down from 6.9% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Announcement • May 13
Tigers Polymer Corporation, Annual General Meeting, Jun 26, 2026 Tigers Polymer Corporation, Annual General Meeting, Jun 26, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥31.19 (vs JP¥25.76 in 3Q 2025) Third quarter 2026 results: EPS: JP¥31.19 (up from JP¥25.76 in 3Q 2025). Revenue: JP¥12.6b (up 19% from 3Q 2025). Net income: JP¥616.0m (up 21% from 3Q 2025). Profit margin: 4.9% (up from 4.8% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 40% per year. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,137, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 214% over the past three years. Announcement • Feb 09
Tigers Polymer Corporation (TSE:4231) announces an Equity Buyback for 800,000 shares, representing 4.02% for ¥500 million. Tigers Polymer Corporation (TSE:4231) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares, representing 4.02% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency, while also developing flexible capital policies for the future. The program will continue through February 9, 2027. As of December 31, 2025, the company had 19,904,704 issued shares (excluding treasury stock) and 206,894 treasury shares. Declared Dividend • Dec 03
First half dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 43% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥28.97 (vs JP¥3.43 in 2Q 2025) Second quarter 2026 results: EPS: JP¥28.97 (up from JP¥3.43 in 2Q 2025). Revenue: JP¥11.9b (down 6.9% from 2Q 2025). Net income: JP¥572.0m (up JP¥504.0m from 2Q 2025). Profit margin: 4.8% (up from 0.5% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.0%). Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥37.12 (vs JP¥36.52 in 1Q 2025) First quarter 2026 results: EPS: JP¥37.12 (up from JP¥36.52 in 1Q 2025). Revenue: JP¥12.3b (up 3.6% from 1Q 2025). Net income: JP¥733.0m (flat on 1Q 2025). Profit margin: 6.0% (down from 6.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥14.00 announced Shareholders will receive a dividend of JP¥14.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 6.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 73% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.2% to JP¥803. The fair value is estimated to be JP¥668, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 47%. Buy Or Sell Opportunity • May 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to JP¥813. The fair value is estimated to be JP¥672, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 47%. New Risk • May 15
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 Japanese 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (3.8% net profit margin). Announcement • May 14
Tigers Polymer Corporation, Annual General Meeting, Jun 24, 2025 Tigers Polymer Corporation, Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥823, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 123% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥25.76 (vs JP¥35.22 in 3Q 2024) Third quarter 2025 results: EPS: JP¥25.76 (down from JP¥35.22 in 3Q 2024). Revenue: JP¥10.6b (down 19% from 3Q 2024). Net income: JP¥509.0m (down 27% from 3Q 2024). Profit margin: 4.8% (down from 5.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥815, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 104% over the past three years. Declared Dividend • Dec 03
First half dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Oct 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.8b (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥14.8b market cap, or US$99.7m). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥619, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 52% over the past three years. New Risk • Aug 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.8b (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (JP¥14.8b market cap, or US$99.7m). Declared Dividend • Jul 11
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 5.4%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 21
Full year 2024 earnings released: EPS: JP¥152 (vs JP¥41.00 in FY 2023) Full year 2024 results: EPS: JP¥152 (up from JP¥41.00 in FY 2023). Revenue: JP¥47.9b (up 5.7% from FY 2023). Net income: JP¥3.02b (up 270% from FY 2023). Profit margin: 6.3% (up from 1.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Tigers Polymer Corporation, Annual General Meeting, Jun 27, 2024 Tigers Polymer Corporation, Annual General Meeting, Jun 27, 2024. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥860, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 110% over the past three years. Announcement • Mar 28
Tigers Polymer Corporation to Report Fiscal Year 2024 Results on May 08, 2024 Tigers Polymer Corporation announced that they will report fiscal year 2024 results on May 08, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥1,142, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 171% over the past three years. Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JP¥35.22 (vs JP¥13.51 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥35.22 (up from JP¥13.51 loss in 3Q 2023). Revenue: JP¥13.0b (up 3.0% from 3Q 2023). Net income: JP¥701.0m (up JP¥970.0m from 3Q 2023). Profit margin: 5.4% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥57.02 (vs JP¥7.18 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥57.02 (up from JP¥7.18 loss in 2Q 2023). Revenue: JP¥12.6b (up 12% from 2Q 2023). Net income: JP¥1.14b (up JP¥1.28b from 2Q 2023). Profit margin: 9.0% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥758, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥649, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 66% over the past three years. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥36.22 (vs JP¥7.29 in 1Q 2023) First quarter 2024 results: EPS: JP¥36.22 (up from JP¥7.29 in 1Q 2023). Revenue: JP¥11.5b (up 7.8% from 1Q 2023). Net income: JP¥721.0m (up 397% from 1Q 2023). Profit margin: 6.3% (up from 1.4% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥680, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 49% over the past three years. New Risk • Jul 04
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 Japanese stocks, typically moving 5.1% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (104% payout ratio). Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (JP¥13.1b market cap, or US$90.5m). Reported Earnings • Jun 24
Full year 2023 earnings released: EPS: JP¥41.00 (vs JP¥41.57 in FY 2022) Full year 2023 results: EPS: JP¥41.00 (down from JP¥41.57 in FY 2022). Revenue: JP¥45.3b (up 11% from FY 2022). Net income: JP¥816.0m (down 1.8% from FY 2022). Profit margin: 1.8% (down from 2.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Tigers Polymer Corporation, Annual General Meeting, Jun 20, 2023 Tigers Polymer Corporation, Annual General Meeting, Jun 20, 2023. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥40.99 (vs JP¥41.57 in FY 2022) Full year 2023 results: EPS: JP¥40.99 (down from JP¥41.57 in FY 2022). Revenue: JP¥45.3b (up 11% from FY 2022). Net income: JP¥816.0m (down 1.8% from FY 2022). Profit margin: 1.8% (down from 2.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% 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¥6.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.2%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: JP¥13.51 loss per share (vs JP¥10.80 profit in 3Q 2022) Third quarter 2023 results: JP¥13.51 loss per share (down from JP¥10.80 profit in 3Q 2022). Revenue: JP¥12.6b (up 25% from 3Q 2022). Net loss: JP¥269.0m (down 225% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Dec 24
Tigers Polymer Corporation to Report Q3, 2023 Results on Feb 08, 2023 Tigers Polymer Corporation announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: JP¥7.18 loss per share (vs JP¥9.30 profit in 2Q 2022) Second quarter 2023 results: JP¥7.18 loss per share (down from JP¥9.30 profit in 2Q 2022). Revenue: JP¥11.2b (up 11% from 2Q 2022). Net loss: JP¥143.0m (down 177% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. GM of Accounting & Administration Department and Director Hiroaki Inoue was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Second quarter 2023 earnings released: JP¥7.18 loss per share (vs JP¥9.30 profit in 2Q 2022) Second quarter 2023 results: JP¥7.18 loss per share (down from JP¥9.30 profit in 2Q 2022). Revenue: JP¥11.2b (up 11% from 2Q 2022). Net loss: JP¥143.0m (down 177% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 25% and the cash payout ratio is 85%. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.1%). Announcement • Sep 01
Tigers Polymer Corporation to Report Q2, 2023 Results on Nov 09, 2022 Tigers Polymer Corporation announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥7.28 (vs JP¥1.40 in 1Q 2022) First quarter 2023 results: EPS: JP¥7.28 (up from JP¥1.40 in 1Q 2022). Revenue: JP¥10.7b (up 16% from 1Q 2022). Net income: JP¥145.0m (up 418% from 1Q 2022). Profit margin: 1.4% (up from 0.3% in 1Q 2022). 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 but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 30
Tigers Polymer Corporation to Report Q1, 2023 Results on Aug 10, 2022 Tigers Polymer Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • Jun 26
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥40.9b (up 12% from FY 2021). Net income: JP¥831.0m (up 8.1% from FY 2021). Profit margin: 2.0% (down from 2.1% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥41.56 (vs JP¥38.44 in FY 2021) Full year 2022 results: EPS: JP¥41.56 (up from JP¥38.44 in FY 2021). Revenue: JP¥40.9b (up 12% from FY 2021). Net income: JP¥831.0m (up 8.1% from FY 2021). Profit margin: 2.0% (down from 2.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Announcement • May 13
Tigers Polymer Corporation, Annual General Meeting, Jun 21, 2022 Tigers Polymer Corporation, Annual General Meeting, Jun 21, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Outside Director Yasushi Nojiri was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Tigers Polymer Corporation to Report Fiscal Year 2022 Results on May 11, 2022 Tigers Polymer Corporation announced that they will report fiscal year 2022 results on May 11, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.0%). Announcement • Feb 10
Tigers Polymer Corporation (TSE:4231) announces an Equity Buyback for 100,000 shares, representing 0.5% for ¥53 million. Tigers Polymer Corporation (TSE:4231) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.5% of its issued share capital (excluding treasury stock), for a total purchase price of ¥53 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency, as well as enable future agile capital policies. The program will continue through March 24, 2022. As of September 30, 2021, the company had 20,005,459 issued shares (excluding treasury stock) and 106,139 treasury shares. Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥10.80 (down from JP¥24.19 in 3Q 2021). Revenue: JP¥10.1b (flat on 3Q 2021). Net income: JP¥216.0m (down 55% from 3Q 2021). Profit margin: 2.1% (down from 4.8% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS JP¥9.30 (vs JP¥18.05 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥10.1b (up 34% from 2Q 2021). Net income: JP¥186.0m (up JP¥547.0m from 2Q 2021). Profit margin: 1.8% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥1.40 (vs JP¥3.00 in 1Q 2021) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: JP¥9.22b (up 4.4% from 1Q 2021). Net income: JP¥28.0m (down 53% from 1Q 2021). Profit margin: 0.3% (down from 0.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥38.44 (vs JP¥11.10 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¥36.6b (down 8.2% from FY 2020). Net income: JP¥769.0m (up 246% from FY 2020). Profit margin: 2.1% (up from 0.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥38.44 (vs JP¥11.10 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¥36.6b (down 8.2% from FY 2020). Net income: JP¥769.0m (up 246% from FY 2020). Profit margin: 2.1% (up from 0.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 24 June 2021. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.9%). Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥24.19 (vs JP¥6.90 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥10.0b (up 5.7% from 3Q 2020). Net income: JP¥484.0m (up 251% from 3Q 2020). Profit margin: 4.8% (up from 1.5% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 79% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 10
New 90-day high: JP¥442 The company is up 1.0% from its price of JP¥438 on 12 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 19% over the same period. Announcement • Nov 29
Tigers Polymer Corporation to Report Q3, 2021 Results on Feb 10, 2021 Tigers Polymer Corporation announced that they will report Q3, 2021 results on Feb 10, 2021 Announcement • Oct 08
Tigers Polymer Corporation to Report Q2, 2021 Results on Nov 11, 2020 Tigers Polymer Corporation announced that they will report Q2, 2021 results on Nov 11, 2020 Announcement • Jun 29
Tigers Polymer Corporation to Report Q1, 2021 Results on Aug 11, 2020 Tigers Polymer Corporation announced that they will report Q1, 2021 results on Aug 11, 2020