Announcement • May 10
Mikuni Corporation to Report Fiscal Year 2026 Results on May 11, 2026 Mikuni Corporation announced that they will report fiscal year 2026 results on May 11, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 14% 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 • Feb 10
Third quarter 2026 earnings released: EPS: JP¥13.20 (vs JP¥2.23 loss in 3Q 2025) Third quarter 2026 results: EPS: JP¥13.20 (up from JP¥2.23 loss in 3Q 2025). Revenue: JP¥26.1b (up 3.7% from 3Q 2025). Net income: JP¥444.0m (up JP¥519.0m from 3Q 2025). Profit margin: 1.7% (up from net loss in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 06
First half dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 44% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Mikuni Corporation to Report Q3, 2026 Results on Feb 09, 2026 Mikuni Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: JP¥4.19 (vs JP¥5.08 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥4.19 (up from JP¥5.08 loss in 2Q 2025). Revenue: JP¥24.8b (down 4.8% from 2Q 2025). Net income: JP¥141.0m (up JP¥312.0m from 2Q 2025). Profit margin: 0.6% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.0%). Announcement • Sep 14
Mikuni Corporation to Report Q2, 2026 Results on Nov 10, 2025 Mikuni Corporation announced that they will report Q2, 2026 results on Nov 10, 2025 Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥351, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 20% over the past three years. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥21.91 (vs JP¥6.36 in 1Q 2025) First quarter 2026 results: EPS: JP¥21.91 (up from JP¥6.36 in 1Q 2025). Revenue: JP¥24.6b (up 1.4% from 1Q 2025). Net income: JP¥738.0m (up 245% from 1Q 2025). Profit margin: 3.0% (up from 0.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 09
Final dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 47% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 31
Mikuni Corporation to Report Q1, 2026 Results on Aug 08, 2025 Mikuni Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 13
Full year 2025 earnings released: EPS: JP¥64.25 (vs JP¥33.16 in FY 2024) Full year 2025 results: EPS: JP¥64.25 (up from JP¥33.16 in FY 2024). Revenue: JP¥101.4b (up 1.5% from FY 2024). Net income: JP¥2.16b (up 94% from FY 2024). Profit margin: 2.1% (up from 1.1% in FY 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • May 12
Mikuni Corporation, Annual General Meeting, Jun 26, 2025 Mikuni Corporation, Annual General Meeting, Jun 26, 2025. Buy Or Sell Opportunity • Apr 08
Now 26% overvalued Over the last 90 days, the stock has fallen 25% to JP¥252. The fair value is estimated to be JP¥200, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥262, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total loss to shareholders of 21% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Announcement • Mar 05
Mikuni Corporation to Report Fiscal Year 2025 Results on May 12, 2025 Mikuni Corporation announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 12
Third quarter 2025 earnings released: JP¥2.23 loss per share (vs JP¥11.59 profit in 3Q 2024) Third quarter 2025 results: JP¥2.23 loss per share (down from JP¥11.59 profit in 3Q 2024). Revenue: JP¥25.2b (down 2.2% from 3Q 2024). Net loss: JP¥75.0m (down 119% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Declared Dividend • Dec 06
First half dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 82% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.0% EPS decline seen over the last 5 years. Announcement • Nov 30
Mikuni Corporation to Report Q3, 2025 Results on Feb 10, 2025 Mikuni Corporation announced that they will report Q3, 2025 results on Feb 10, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: JP¥5.08 loss per share (vs JP¥2.02 profit in 2Q 2024) Second quarter 2025 results: JP¥5.08 loss per share (down from JP¥2.02 profit in 2Q 2024). Revenue: JP¥26.0b (up 5.6% from 2Q 2024). Net loss: JP¥171.0m (down 352% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.5%). Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥6.36 (vs JP¥1.10 in 1Q 2024) First quarter 2025 results: EPS: JP¥6.36 (up from JP¥1.10 in 1Q 2024). Revenue: JP¥24.2b (up 4.2% from 1Q 2024). Net income: JP¥214.0m (up 478% from 1Q 2024). Profit margin: 0.9% (up from 0.2% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Aug 05
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 5.9% 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 Debt is not well covered by operating cash flow (7.7% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Market cap is less than US$100m (JP¥9.86b market cap, or US$69.2m). 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¥293, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 1.5% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 5.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Jun 28
Mikuni Corporation to Report Q1, 2025 Results on Aug 09, 2024 Mikuni Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Announcement • May 15
Mikuni Corporation, Annual General Meeting, Jun 26, 2024 Mikuni Corporation, Annual General Meeting, Jun 26, 2024. Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥33.16 (vs JP¥50.12 loss in FY 2023) Full year 2024 results: EPS: JP¥33.16 (up from JP¥50.12 loss in FY 2023). Revenue: JP¥99.9b (up 6.5% from FY 2023). Net income: JP¥1.12b (up JP¥2.80b from FY 2023). Profit margin: 1.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.2b (US$100.0m) 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: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 8.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥15.2b market cap, or US$100.0m). Announcement • Mar 28
Mikuni Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Mikuni Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). New Risk • Feb 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.0b (US$99.4m) 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: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 8.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥15.0b market cap, or US$99.4m). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥11.59 (vs JP¥19.99 in 3Q 2023) Third quarter 2024 results: EPS: JP¥11.59 (down from JP¥19.99 in 3Q 2023). Revenue: JP¥25.8b (up 6.7% from 3Q 2023). Net income: JP¥390.0m (down 42% from 3Q 2023). Profit margin: 1.5% (down from 2.8% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Dec 01
Mikuni Corporation to Report Q3, 2024 Results on Feb 09, 2024 Mikuni Corporation announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥2.02 (vs JP¥13.86 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥2.02 (up from JP¥13.86 loss in 2Q 2023). Revenue: JP¥24.7b (up 2.0% from 2Q 2023). Net income: JP¥68.0m (up JP¥533.0m from 2Q 2023). Profit margin: 0.3% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.9b (US$99.6m) 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: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 18% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥14.9b market cap, or US$99.6m). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥5.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Announcement • Sep 08
Mikuni Corporation to Report Q2, 2024 Results on Nov 09, 2023 Mikuni Corporation announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Aug 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.6b (US$99.8m) 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: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 18% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (JP¥14.6b market cap, or US$99.8m). Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥1.10 (vs JP¥3.64 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥1.10 (up from JP¥3.64 loss in 1Q 2023). Revenue: JP¥23.3b (up 13% from 1Q 2023). Net income: JP¥37.0m (up JP¥159.0m from 1Q 2023). Profit margin: 0.2% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. 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 6.1% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Announcement • May 28
Mikuni Corporation to Report Q1, 2024 Results on Aug 09, 2023 Mikuni Corporation announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: JP¥50.12 loss per share (down from JP¥39.29 profit in FY 2022). Revenue: JP¥93.8b (up 16% from FY 2022). Net loss: JP¥1.68b (down 228% from profit in FY 2022). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 7.0% p.a. on average during the next 2 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 80% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.1%. 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: EPS: JP¥19.99 (vs JP¥17.67 in 3Q 2022) Third quarter 2023 results: EPS: JP¥19.99 (up from JP¥17.67 in 3Q 2022). Revenue: JP¥24.2b (up 21% from 3Q 2022). Net income: JP¥671.0m (up 13% from 3Q 2022). Profit margin: 2.8% (down from 3.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 30
Mikuni Corporation to Report Q3, 2023 Results on Feb 10, 2023 Mikuni Corporation announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 3 independent directors (9 non-independent directors). Independent Outside Director Masayuki Takashima was the last independent director to join the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: JP¥24.2b (up 19% from 2Q 2022). Net loss: JP¥465.0m (down 396% from profit in 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.1%). Announcement • Aug 31
Mikuni Corporation to Report Q2, 2023 Results on Nov 09, 2022 Mikuni Corporation announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: JP¥3.64 loss per share (vs JP¥17.63 profit in 1Q 2022) First quarter 2023 results: JP¥3.64 loss per share (down from JP¥17.63 profit in 1Q 2022). Revenue: JP¥20.6b (up 7.6% from 1Q 2022). Net loss: JP¥122.0m (down 121% from profit in 1Q 2022). Over the next year, revenue is forecast to grow 15%, compared to a 13% growth forecast for the industry in Japan. 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 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
Mikuni Corporation to Report Q1, 2023 Results on Aug 09, 2022 Mikuni Corporation announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥39.29 (vs JP¥3.72 loss in FY 2021) Full year 2022 results: EPS: JP¥39.29 (up from JP¥3.72 loss in FY 2021). Revenue: JP¥80.8b (down 7.1% from FY 2021). Net income: JP¥1.32b (up JP¥1.44b from FY 2021). Profit margin: 1.6% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 14
Mikuni Corporation, Annual General Meeting, Jun 28, 2022 Mikuni Corporation, Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 3 independent directors (9 non-independent directors). Independent Outside Director Masayuki Takashima was the last independent director to join the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Mikuni Corporation to Report Fiscal Year 2022 Results on May 12, 2022 Mikuni Corporation announced that they will report fiscal year 2022 results on May 12, 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: 30 June 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (3.0%). Reported Earnings • Feb 12
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥17.67 (up from JP¥1.73 in 3Q 2021). Revenue: JP¥20.0b (down 13% from 3Q 2021). Net income: JP¥593.0m (up JP¥535.0m from 3Q 2021). Profit margin: 3.0% (up from 0.3% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 3.1%, compared to a 9.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥372, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Auto Components industry in Japan. Total loss to shareholders of 20% over the past three years. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥4.68 (vs JP¥31.29 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¥20.4b (up 11% from 2Q 2021). Net income: JP¥157.0m (up JP¥1.21b from 2Q 2021). Profit margin: 0.8% (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 48% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 11
First quarter 2022 earnings released: EPS JP¥17.63 (vs JP¥20.11 loss in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥19.2b (down 2.2% from 1Q 2021). Net income: JP¥591.0m (up JP¥1.27b from 1Q 2021). Profit margin: 3.1% (up from net loss in 1Q 2021). The move to profitability 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. Reported Earnings • May 14
Full year 2021 earnings released: JP¥3.72 loss per share (vs JP¥119 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: JP¥87.0b (down 21% from FY 2020). Net loss: JP¥125.0m (loss narrowed 97% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Inaugural dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. The company last paid an ordinary dividend in July 2020. The average dividend yield among industry peers is 1.9%. Is New 90 Day High Low • Mar 16
New 90-day high: JP¥309 The company is up 5.0% from a price of JP¥293 on 16 December 2020. Underperformed the Japanese market, which is up 10.0% over the last 90 days. Lagged the Auto Components industry, which is up 21% over the same period. Announcement • Mar 04
Mikuni Corporation to Report Fiscal Year 2021 Results on May 12, 2021 Mikuni Corporation announced that they will report fiscal year 2021 results on May 12, 2021 Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥1.73 (vs JP¥11.91 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥22.8b (down 15% from 3Q 2020). Net income: JP¥58.0m (down 86% from 3Q 2020). Profit margin: 0.3% (down from 1.5% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 04
New 90-day high: JP¥324 The company is up 24% from its price of JP¥261 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 12% over the same period. Price Target Changed • Dec 01
Price target raised to JP¥300 Up from JP¥278, the current price target is provided by 1 analyst. The new target price is 9.1% above the current share price of JP¥275. As of last close, the stock is down 20% over the past year. Announcement • Nov 29
Mikuni Corporation to Report Q3, 2021 Results on Feb 10, 2021 Mikuni Corporation announced that they will report Q3, 2021 results on Feb 10, 2021 Announcement • Oct 10
Mikuni Corporation to Report Q2, 2021 Results on Nov 09, 2020 Mikuni Corporation announced that they will report Q2, 2021 results on Nov 09, 2020 Announcement • Sep 21
Mikuni Corporation(TSE:7247) dropped from S&P Global BMI Index Mikuni Corporation(TSE:7247) dropped from S&P Global BMI Index Announcement • Jul 05
Mikuni Corporation to Report Fiscal Year 2020 Results on Jun 17, 2020 Mikuni Corporation announced that they will report fiscal year 2020 results on Jun 17, 2020