Declared Dividend • Jul 25
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 29th September 2026 Payment date: 30th November 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (66% 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 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
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. 5 non-independent directors. Outside Independent Director Shoji Hatano was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Jun 18
Price target increased by 8.6% to JP¥3,741 Up from JP¥3,446, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of JP¥3,755. Stock is up 33% over the past year. The company is forecast to post earnings per share of JP¥295 for next year compared to JP¥240 last year. Reported Earnings • May 13
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥241 (up from JP¥206 in FY 2025). Revenue: JP¥518.5b (up 1.7% from FY 2025). Net income: JP¥32.8b (up 2.4% from FY 2025). Profit margin: 6.3% (in line with FY 2025). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 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 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Stanley Electric Co., Ltd., Annual General Meeting, Jun 25, 2026 Stanley Electric Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • Apr 23
Stanley Electric Co., Ltd. (TSE:6923) completed the acquisition of Iwasaki Electric Co., Ltd. from Lux Holdings, L.P., a fund managed by The Carlyle Group Inc. (NasdaqGS:CG), and others. Stanley Electric Co., Ltd. (TSE:6923) executed an agreement to acquire Iwasaki Electric Co., Ltd. from Lux Holdings, L.P., a fund managed by The Carlyle Group Inc. (NasdaqGS:CG), and others for ¥70.3 billion on January 29, 2026. A cash consideration of ¥70.29 billion will be paid by Stanley Electric Co., Ltd. Upon completion, Iwasaki Electric Co., Ltd. will operate as a consolidated subsidiary of Stanley Electric Co., Ltd. For the period ending March 31, 2025, Iwasaki Electric Co., Ltd. reported total revenue of ¥60.1 billion, operating income of ¥6.09 billion and net income of ¥3.91 billion. As of March 31, 2025, Iwasaki Electric Co., Ltd. reported total assets of ¥62.75 billion and net assets of ¥21 billion.
The transaction is subject to completion of antitrust and other regulatory clearances in Japan and Vietnam. The transaction is expected to close on April 1, 2026. As of March 31, 2026, the necessary procedures and responses under competition law in Vietnam have not yet been completed. The Company plans to execute the Share Acquisition as soon as the conditions precedent are satisfied, and currently expects that the Share Acquisition will be effected during April 2026.
Stanley Electric Co., Ltd. (TSE:6923) completed the acquisition of Iwasaki Electric Co., Ltd. from Lux Holdings, L.P., a fund managed by The Carlyle Group Inc. (NasdaqGS:CG), and others on April 23, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥51.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 04 June 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Jan 30
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥87.21 (up from JP¥49.31 in 3Q 2025). Revenue: JP¥131.8b (flat on 3Q 2025). Net income: JP¥11.2b (up 48% from 3Q 2025). Profit margin: 8.5% (up from 5.8% in 3Q 2025). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 116%. Revenue is forecast to grow 3.1% 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 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
Stanley Electric Co., Ltd. (TSE:6923) executed an agreement to acquire Iwasaki Electric Co., Ltd. from Lux Holdings, L.P., a fund managed by The Carlyle Group Inc. (NasdaqGS:CG), and others for ¥70.3 billion. Stanley Electric Co., Ltd. (TSE:6923) executed an agreement to acquire Iwasaki Electric Co., Ltd. from Lux Holdings, L.P., a fund managed by The Carlyle Group Inc. (NasdaqGS:CG), and others for ¥70.3 billion on January 29, 2026. A cash consideration of ¥70.29 billion will be paid by Stanley Electric Co., Ltd. Upon completion, Iwasaki Electric Co., Ltd. will operate as a consolidated subsidiary of Stanley Electric Co., Ltd. For the period ending March 31, 2025, Iwasaki Electric Co., Ltd. reported total revenue of ¥60.1 billion, operating income of ¥6.09 billion and net income of ¥3.91 billion. As of March 31, 2025, Iwasaki Electric Co., Ltd. reported total assets of ¥62.75 billion and net assets of ¥21 billion.
The transaction is subject to completion of antitrust and other regulatory clearances in Japan and Vietnam. The transaction is expected to close on April 1, 2026. Announcement • Dec 03
Stanley Electric Co., Ltd. to Report Q3, 2026 Results on Jan 29, 2026 Stanley Electric Co., Ltd. announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Nov 29
First half dividend of JP¥51.00 announced Shareholders will receive a dividend of JP¥51.00. Ex-date: 30th March 2026 Payment date: 4th June 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (19% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: JP¥34.79 (down from JP¥34.89 in 2Q 2025). Revenue: JP¥128.6b (up 5.0% from 2Q 2025). Net income: JP¥5.01b (down 9.9% from 2Q 2025). Profit margin: 3.9% (down from 4.5% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 2.8% 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 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥46.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.0%). Announcement • Sep 04
Stanley Electric Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Stanley Electric Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥34.58 (vs JP¥36.31 in 1Q 2025) First quarter 2026 results: EPS: JP¥34.58 (down from JP¥36.31 in 1Q 2025). Revenue: JP¥119.8b (down 1.3% from 1Q 2025). Net income: JP¥5.16b (down 12% from 1Q 2025). Profit margin: 4.3% (down from 4.8% in 1Q 2025). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Japan. 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 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥46.00 announced Shareholders will receive a dividend of JP¥46.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥206 (up from JP¥162 in FY 2024). Revenue: JP¥509.6b (up 7.9% from FY 2024). Net income: JP¥32.1b (up 21% from FY 2024). Profit margin: 6.3% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 4.0% 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 17% 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 04
Stanley Electric Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Stanley Electric Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Apr 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥206 (up from JP¥162 in FY 2024). Revenue: JP¥509.6b (up 7.9% from FY 2024). Net income: JP¥32.1b (up 21% from FY 2024). Profit margin: 6.3% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto Components industry in Japan. 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 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,948, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,233 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. 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 (3.7%). Lower than average of industry peers (3.3%). Announcement • Mar 11
Stanley Electric Co., Ltd. to Report Fiscal Year 2025 Results on May 07, 2025 Stanley Electric Co., Ltd. announced that they will report fiscal year 2025 results on May 07, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥49.31 (vs JP¥35.57 in 3Q 2024) Third quarter 2025 results: EPS: JP¥49.31 (up from JP¥35.57 in 3Q 2024). Revenue: JP¥131.9b (up 2.1% from 3Q 2024). Net income: JP¥7.59b (up 31% from 3Q 2024). Profit margin: 5.8% (up from 4.5% in 3Q 2024). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 30
First half dividend of JP¥32.00 announced Shareholders will receive a dividend of JP¥32.00. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 2.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: JP¥34.89 (vs JP¥34.54 in 2Q 2024) Second quarter 2025 results: EPS: JP¥34.89. Revenue: JP¥122.5b (up 7.1% from 2Q 2024). Net income: JP¥5.55b (down 2.0% from 2Q 2024). Profit margin: 4.5% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Auto Components industry in Japan. Buy Or Sell Opportunity • Oct 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.2% to JP¥2,609. The fair value is estimated to be JP¥3,268, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. 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: 02 December 2024. 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 (3.8%). Lower than average of industry peers (3.5%). Buy Or Sell Opportunity • Aug 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to JP¥2,379. The fair value is estimated to be JP¥3,234, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥36.31 (vs JP¥14.26 in 1Q 2024) First quarter 2025 results: EPS: JP¥36.31 (up from JP¥14.26 in 1Q 2024). Revenue: JP¥121.4b (up 8.7% from 1Q 2024). Net income: JP¥5.82b (up 148% from 1Q 2024). Profit margin: 4.8% (up from 2.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 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 1% per year and the company’s share price has also increased by 1% per year. Declared Dividend • Jul 11
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 01
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥162 (up from JP¥162 in FY 2023). Revenue: JP¥472.4b (up 7.9% from FY 2023). Net income: JP¥26.5b (flat on FY 2023). Profit margin: 5.6% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Announcement • Mar 28
Stanley Electric Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2024 Stanley Electric Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Announcement • Mar 07
Stanley Electric Co., Ltd. Provides Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024 Stanley Electric Co., Ltd. provided consolidated earnings forecasts for the fiscal year ending March 31, 2024. For the year, the company expects net sales of ¥464,000 million, operating income of ¥35,000 million, net income attributable to owners of parent of ¥25,500 million or ¥155.95 income per share. Buy Or Sell Opportunity • Mar 07
Now 23% undervalued Over the last 90 days, the stock has risen 2.9% to JP¥2,686. The fair value is estimated to be JP¥3,478, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 6.6%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥35.57 (vs JP¥22.53 in 3Q 2023) Third quarter 2024 results: EPS: JP¥35.57 (up from JP¥22.53 in 3Q 2023). Revenue: JP¥129.2b (up 18% from 3Q 2023). Net income: JP¥5.81b (up 55% from 3Q 2023). Profit margin: 4.5% (up from 3.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% 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 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 01
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 28th March 2024 Payment date: 10th June 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 31
Stanley Electric Co., Ltd. Revises the Forecasts for Year-End Dividend Stanley Electric Co., Ltd. revised the forecasts for year-end dividend. For the period, the company expected year-end dividend from JPY 27 to JPY 28. Therefore, the company plans to set the annual dividend per share, including the second quarter-end dividend, at JPY 55 per share. Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: JP¥34.54 (down from JP¥48.31 in 2Q 2023). Revenue: JP¥114.4b (down 4.7% from 2Q 2023). Net income: JP¥5.67b (down 27% from 2Q 2023). Profit margin: 5.0% (down from 6.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 29%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.0% 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 fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 01
Stanley Electric Co., Ltd. (TSE:6923) announces an Equity Buyback for 5,000,000 shares, representing 3.05% for ¥10,000 million. Stanley Electric Co., Ltd. (TSE:6923) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 3.05% of its issued share capital, for total worth of ¥10,000 million. The purpose of the share repurchases is to return profits to shareholders and implement flexible capital policies in response to changes in the corporate environment. The program is valid till February 15, 2024. As of September 30, 2023, the company had 164,047,578 shares (excluding treasury stock) in issue and 7,152,422 shares are in treasury. New Risk • Oct 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥26.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). New Risk • Aug 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Reported Earnings • Jul 29
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥14.26 (down from JP¥16.08 in 1Q 2023). Revenue: JP¥111.7b (up 20% from 1Q 2023). Net income: JP¥2.35b (down 8.8% from 1Q 2023). Profit margin: 2.1% (down from 2.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Revenue is forecast to grow 5.9% 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 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Jul 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Buying Opportunity • Jul 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.0%. The fair value is estimated to be JP¥3,630, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Announcement • Jun 28
Stanley Electric Co., Ltd. to Report Q1, 2024 Results on Jul 28, 2023 Stanley Electric Co., Ltd. announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • Apr 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥162 (up from JP¥134 in FY 2022). Revenue: JP¥437.8b (up 14% from FY 2022). Net income: JP¥26.5b (up 24% from FY 2022). Profit margin: 6.1% (up from 5.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 07 June 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Announcement • Jan 31
Stanley Electric Co., Ltd. (TSE:6923) announces an Equity Buyback for 5,000,000 shares, representing 2.99% for ¥10,000 million. Stanley Electric Co., Ltd. (TSE:6923) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 2.99% of its issued share capital, for total worth of ¥10,000 million. The purpose of the share repurchases is to return profits to shareholders and implement flexible capital policies in response to changes in the corporate environment. The program is valid till May 31, 2023. As of December 31, 2022, the company had 167,488,277 shares (excluding treasury stock) in issue and 5,511,723 shares are in treasury. 
