Reported Earnings • Aug 07
First quarter 2027 earnings released: EPS: JP¥77.62 (vs JP¥44.24 in 1Q 2026) First quarter 2027 results: EPS: JP¥77.62 (up from JP¥44.24 in 1Q 2026). Revenue: JP¥216.2b (up 8.1% from 1Q 2026). Net income: JP¥15.7b (up 75% from 1Q 2026). Profit margin: 7.3% (up from 4.5% in 1Q 2026). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 03
Now 20% undervalued Over the last 90 days, the stock has risen 29% to JP¥3,532. The fair value is estimated to be JP¥4,439, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Declared Dividend • Jul 25
Final dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 29th September 2026 Payment date: 2nd December 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 86% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 03
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 64% to JP¥4,089. The fair value is estimated to be JP¥3,360, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Reported Earnings • Jun 23
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥137 (down from JP¥225 in FY 2025). Revenue: JP¥816.9b (up 1.9% from FY 2025). Net income: JP¥27.9b (down 42% from FY 2025). Profit margin: 3.4% (down from 6.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 16
NHK Spring Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026 NHK Spring Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026 Buy Or Sell Opportunity • Jun 03
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to JP¥3,946. The fair value is estimated to be JP¥3,137, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Reported Earnings • May 12
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥137 (down from JP¥225 in FY 2025). Revenue: JP¥816.9b (up 1.9% from FY 2025). Net income: JP¥27.9b (down 42% from FY 2025). Profit margin: 3.4% (down from 6.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2026 NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2026. Live News • May 11
NHK Spring Profit Declines 42.2% as Costs Rise, Eyes Recovery With India Expansion NHK Spring reported a 42.2% decline in consolidated profit for the year to March 31, 2026, while net sales moved 1.9% higher, citing higher costs, asset impairments and increased deferred tax liabilities.
Management described the impairments and tax charges as one-off items with limited effect on the next fiscal year and kept the annual dividend only slightly lower, pointing to what it describes as a strong financial position.
Non-consolidated net income improved, supported by foreign exchange gains, dividend income and gains on investment securities. The company plans overseas expansion, including a new automotive unit in India, and is targeting better capital efficiency and shareholder returns by FY2027.
The key question now is how effectively NHK Spring can convert its planned overseas expansion and capital efficiency focus into more resilient profit, given that a large part of the latest profit decline is tied to items management labels as one-off.
Readers should watch execution risks around the India automotive unit and any further cost or tax surprises that could affect the path toward the FY2027 profit and sales goals. Announcement • Apr 11
NHK Spring Co., Ltd. to Report Fiscal Year 2026 Results on May 11, 2026 NHK Spring Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 11, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 31% and the cash payout ratio is 83%. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.8%). Price Target Changed • Mar 19
Price target increased by 9.2% to JP¥3,190 Up from JP¥2,923, the current price target is an average from 4 analysts. New target price is 19% above last closing price of JP¥2,675. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥197 for next year compared to JP¥225 last year. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥55.55 (vs JP¥38.78 in 3Q 2025) Third quarter 2026 results: EPS: JP¥55.55 (up from JP¥38.78 in 3Q 2025). Revenue: JP¥202.5b (flat on 3Q 2025). Net income: JP¥11.3b (up 35% from 3Q 2025). Profit margin: 5.6% (up from 4.1% in 3Q 2025). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 03
First half dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
NHK Spring Co., Ltd. to Report Q3, 2026 Results on Feb 12, 2026 NHK Spring Co., Ltd. announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥24.33 (vs JP¥30.20 in 2Q 2025) Second quarter 2026 results: EPS: JP¥24.33 (down from JP¥30.20 in 2Q 2025). Revenue: JP¥194.0b (down 1.8% from 2Q 2025). Net income: JP¥4.93b (down 24% from 2Q 2025). Profit margin: 2.5% (down from 3.3% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥2,240, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 171% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,672 per share. Buy Or Sell Opportunity • Nov 13
Now 33% undervalued Over the last 90 days, the stock has risen 34% to JP¥2,418. The fair value is estimated to be JP¥3,632, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 7.0% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. New Risk • Oct 10
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: Minor Risks Dividend is not well covered by cash flows (104% cash payout ratio). Share price has been volatile over the past 3 months (5.1% average weekly change). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,443, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 203% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,902 per share. Price Target Changed • Oct 03
Price target increased by 7.3% to JP¥2,193 Up from JP¥2,043, the current price target is an average from 4 analysts. New target price is 5.9% below last closing price of JP¥2,330. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥195 for next year compared to JP¥225 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.0%). Announcement • Aug 21
NHK Spring Co., Ltd. to Report Q2, 2026 Results on Nov 12, 2025 NHK Spring Co., Ltd. announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥44.24 (vs JP¥69.37 in 1Q 2025) First quarter 2026 results: EPS: JP¥44.24 (down from JP¥69.37 in 1Q 2025). Revenue: JP¥200.0b (up 3.2% from 1Q 2025). Net income: JP¥8.98b (down 40% from 1Q 2025). Profit margin: 4.5% (down from 7.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 19
Price target decreased by 13% to JP¥1,918 Down from JP¥2,203, the current price target is an average from 4 analysts. New target price is 19% above last closing price of JP¥1,614. Stock is up 4.3% over the past year. The company is forecast to post earnings per share of JP¥189 for next year compared to JP¥225 last year. Announcement • Jun 07
NHK Spring Co., Ltd. to Report Q1, 2026 Results on Aug 06, 2025 NHK Spring Co., Ltd. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 18
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥225 (up from JP¥173 in FY 2024). Revenue: JP¥801.7b (up 4.5% from FY 2024). Net income: JP¥48.2b (up 23% from FY 2024). Profit margin: 6.0% (up from 5.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Announcement • May 14
NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2025 NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2025. Price Target Changed • Apr 17
Price target decreased by 8.3% to JP¥2,203 Down from JP¥2,403, the current price target is an average from 4 analysts. New target price is 52% above last closing price of JP¥1,445. Stock is down 4.7% over the past year. The company is forecast to post earnings per share of JP¥208 for next year compared to JP¥173 last year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,353, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Auto Components industry in Japan. Total returns to shareholders of 84% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥33.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 25% and the cash payout ratio is 82%. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Announcement • Mar 07
NHK Spring Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 NHK Spring Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Price Target Changed • Mar 06
Price target increased by 15% to JP¥2,393 Up from JP¥2,080, the current price target is an average from 4 analysts. New target price is 40% above last closing price of JP¥1,704. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥210 for next year compared to JP¥173 last year. Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: JP¥38.78 (vs JP¥29.27 in 3Q 2024) Third quarter 2025 results: EPS: JP¥38.78 (up from JP¥29.27 in 3Q 2024). Revenue: JP¥201.4b (flat on 3Q 2024). Net income: JP¥8.32b (up 26% from 3Q 2024). Profit margin: 4.1% (up from 3.3% in 3Q 2024). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 23
Price target increased by 11% to JP¥2,164 Up from JP¥1,950, the current price target is an average from 5 analysts. New target price is 8.3% above last closing price of JP¥1,999. Stock is up 64% over the past year. The company is forecast to post earnings per share of JP¥207 for next year compared to JP¥173 last year. New Risk • Jan 22
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: 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 (5.1% average weekly change). Announcement • Dec 23
NHK Spring Co., Ltd. (TSE:5991) announces an Equity Buyback for 13,000,000 shares, representing 6.05% for ¥26,000 million. NHK Spring Co., Ltd. (TSE:5991) announces a share repurchase program. Under the program, the company will repurchase 13,000,000 shares, representing 6.05% of its share capital, for ¥26,000 million. The company will repurchase its shares in order to improve capital efficiency by enhancing shareholder returns while enabling flexible execution of capital policy. The program will expire on June 23, 2025. As of November 30, 2024, the company had 214,821,247 shares outstanding (excluding treasury shares) and 29,244,897 shares in treasury. Declared Dividend • Dec 04
First half dividend of JP¥33.00 announced Shareholders will receive a dividend of JP¥33.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (12% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Announcement • Nov 30
NHK Spring Co., Ltd. to Report Q3, 2025 Final Results on Feb 12, 2025 NHK Spring Co., Ltd. announced that they will report Q3, 2025 final results on Feb 12, 2025 Reported Earnings • Nov 19
Second quarter 2025 earnings released: EPS: JP¥30.20 (vs JP¥31.79 in 2Q 2024) Second quarter 2025 results: EPS: JP¥30.20 (down from JP¥31.79 in 2Q 2024). Revenue: JP¥197.4b (up 8.0% from 2Q 2024). Net income: JP¥6.49b (down 9.9% from 2Q 2024). Profit margin: 3.3% (down from 3.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Oct 25
Price target increased by 16% to JP¥1,950 Up from JP¥1,675, the current price target is an average from 3 analysts. New target price is 6.8% above last closing price of JP¥1,825. Stock is up 68% over the past year. The company is forecast to post earnings per share of JP¥202 for next year compared to JP¥173 last year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.5%). Announcement • Aug 27
NHK Spring Co., Ltd. to Report Q2, 2025 Results on Nov 13, 2024 NHK Spring Co., Ltd. announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥69.37 (vs JP¥31.57 in 1Q 2024) First quarter 2025 results: EPS: JP¥69.37 (up from JP¥31.57 in 1Q 2024). Revenue: JP¥193.8b (up 8.1% from 1Q 2024). Net income: JP¥15.1b (up 111% from 1Q 2024). Profit margin: 7.8% (up from 4.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. 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¥1,211, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥761 per share. Declared Dividend • Jul 11
Final dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jul 09
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 5.5% 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 (5.5% average weekly change). Major Estimate Revision • Jun 06
Consensus EPS estimates increase by 36% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥775.0b to JP¥788.0b. EPS estimate increased from JP¥133 to JP¥181 per share. Net income forecast to grow 0.2% next year vs 3.6% growth forecast for Auto Components industry in Japan. Consensus price target up from JP¥1,375 to JP¥1,525. Share price fell 4.5% to JP¥1,647 over the past week. Announcement • Jun 02
NHK Spring Co., Ltd. to Report Q1, 2025 Results on Aug 07, 2024 NHK Spring Co., Ltd. announced that they will report Q1, 2025 results on Aug 07, 2024 Buy Or Sell Opportunity • May 28
Now 23% undervalued Over the last 90 days, the stock has risen 21% to JP¥1,742. The fair value is estimated to be JP¥2,250, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 8.1%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to decline by 16% in the next 2 years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,844, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,244 per share. Reported Earnings • May 20
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥173 (up from JP¥94.50 in FY 2023). Revenue: JP¥766.9b (up 11% from FY 2023). Net income: JP¥39.2b (up 82% from FY 2023). Profit margin: 5.1% (up from 3.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • May 09
NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2024 NHK Spring Co., Ltd., Annual General Meeting, Jun 25, 2024. Agenda: To consider approval of Remuneration Amount for Restricted Stock-Based Compensation Plan. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.6%). Announcement • Feb 29
NHK Spring Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 NHK Spring Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024