Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥108 (vs JP¥2.86 in FY 2025) Full year 2026 results: EPS: JP¥108 (up from JP¥2.86 in FY 2025). Revenue: JP¥30.1b (up 70% from FY 2025). Net income: JP¥2.76b (up JP¥2.71b from FY 2025). Profit margin: 9.1% (up from 0.2% in FY 2025). Over the last 3 years on average, earnings per share has increased by 63% per year whereas the company’s share price has increased by 65% per year. Announcement • May 18
ikuyo Co.,Ltd., Annual General Meeting, Jun 23, 2026 ikuyo Co.,Ltd., Annual General Meeting, Jun 23, 2026. Announcement • May 10
ikuyo Co.,Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 ikuyo Co.,Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥3.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 2.2% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 18
Third quarter 2026 earnings released: JP¥0.79 loss per share (vs JP¥1.05 loss in 3Q 2025) Third quarter 2026 results: JP¥0.79 loss per share. Revenue: JP¥8.09b (up 81% from 3Q 2025). Net loss: JP¥23.0m (loss widened 44% from 3Q 2025). Announcement • Dec 05
ikuyo Co.,Ltd. to Report Q3, 2026 Results on Feb 16, 2026 ikuyo Co.,Ltd. announced that they will report Q3, 2026 results on Feb 16, 2026 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥845, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 536% over the past three years. Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥29.91 (vs JP¥8.21 in 2Q 2025) Second quarter 2026 results: EPS: JP¥29.91 (up from JP¥8.21 in 2Q 2025). Revenue: JP¥7.41b (up 72% from 2Q 2025). Net income: JP¥699.0m (up 459% from 2Q 2025). Profit margin: 9.4% (up from 2.9% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 14
ikuyo Co.,Ltd. (TSE:7273) announces an Equity Buyback for 2,000,000 shares, representing 6.84% for ¥2,600 million. ikuyo Co.,Ltd. (TSE:7273) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 6.84% of its issued share capital, for ¥2,600 million. The purpose of the program is to return value to shareholders and to enable flexible capital policy execution. The program will expire on March 31, 2026. As of November 14, 2025, the company had 29,231,420 shares(excluding treasury stock) in issue and 153,580 shares in treasury. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥995, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 814% over the past three years. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥835, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 762% over the past three years. Announcement • Sep 03
ikuyo Co.,Ltd. to Report Q2, 2026 Results on Nov 14, 2025 ikuyo Co.,Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to JP¥1,214, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 1,004% over the past three years. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: JP¥113 (vs JP¥7.16 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥113 (up from JP¥7.16 loss in 1Q 2025). Revenue: JP¥6.81b (up 72% from 1Q 2025). Net income: JP¥2.28b (up JP¥2.39b from 1Q 2025). Profit margin: 34% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major 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: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • Jun 13
ikuyo Co.,Ltd. to Report Q1, 2026 Results on Aug 08, 2025 ikuyo Co.,Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • May 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (JP¥7.66b market cap, or US$53.2m). New Risk • May 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 7.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (JP¥6.79b market cap, or US$47.0m). Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥28.57 (vs JP¥320 in FY 2024) Full year 2025 results: EPS: JP¥28.57 (down from JP¥320 in FY 2024). Revenue: JP¥17.7b (up 2.2% from FY 2024). Net income: JP¥44.0m (down 91% from FY 2024). Profit margin: 0.2% (down from 2.8% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Announcement • Apr 16
ikuyo Co.,Ltd. (TSE:7273) completed the acquisition of 51% stake in Kunshan Veritas Automotive Systems Co.,Ltd. from Veritas AG. ikuyo Co.,Ltd. (TSE:7273) agreed to acquire 51% stake in Kunshan Veritas Automotive Systems Co.,Ltd. from Veritas AG for ¥3.7 billion on September 25, 2024. As part of transaction ikuyo Co.,Ltd. will acquire the remaining 49% stake in the target by March 31, 2030.The transaction will be partly funded by the transfer price of the land of Atsugi Plant. For the period ended December 31, 2023 Kunshan Veritas Automotive Systems Co.,Ltd reported net assets of ¥5.6 billion total assets of ¥8.7 billion turnover of ¥13 billion operating profit of ¥1.8 billion and net income of ¥1.6 billion. The transaction has been approved by the board of ikuyo Co., Ltd. and is expected to complete on March 31, 2025. As of March 26, 2025, it has been decided to change the date for the share transfer, and this was resolved at the board of directors meeting held and a memorandum of change was concluded. The transaction is expected to be completed on April 15, 2025.
ikuyo Co.,Ltd. (TSE:7273) completed the acquisition of 51% stake in Kunshan Veritas Automotive Systems Co.,Ltd. from Veritas AG on April 15, 2025. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥4,595, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 285% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). Announcement • Feb 18
ikuyo Co.,Ltd. announced that it has received ¥155.16 million in funding from Nitto Co., Ltd., Sunrise Oriental Capital Pte. Ltd. On February 17, 2025 ikuyo Co.,Ltd. closed the transaction. Reported Earnings • Feb 16
Third quarter 2025 earnings released: JP¥10.50 loss per share (vs JP¥40.71 profit in 3Q 2024) Third quarter 2025 results: JP¥10.50 loss per share (down from JP¥40.71 profit in 3Q 2024). Revenue: JP¥4.47b (up 3.6% from 3Q 2024). Net loss: JP¥16.0m (down 126% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Announcement • Jan 31
ikuyo Co.,Ltd. announced that it expects to receive ¥155.16 million in funding from Nitto Co., Ltd., Sunrise Oriental Capital Pte. Ltd. ikuyo Co.,Ltd. announced a private placement to issue 15,000 1st Stock Acquisition Rights at issue price of ¥10,344 per stock acquisition right for gross proceeds of ¥155,160,000 on January 30, 2025. The transaction includes participation from returning investor, Nitto Co., Ltd subscribed for 7,500 units and new investor, SUNRISE ORIENTAL CAPITAL PTE. LTD subscribed for 7,500 units. The potential shares from issuance of stock acquisition right will be 1,500,000 . The initial exercise price of stock acquisition right will be ¥3,398 for a exercise period from February 18, 2025 to January 31, 2028. The transaction will happen through third party allocation. The issue date will be February 17, 2025. The transaction has been approved at board of director meeting of the company. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥3,120, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,750, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 85% over the past three years. Announcement • Dec 03
ikuyo Co.,Ltd. to Report Q3, 2025 Results on Feb 14, 2025 ikuyo Co.,Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥3,220, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 150% over the past three years. New Risk • Oct 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.0% Last year net profit margin: 3.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks High level of debt (44% net debt to equity). Profit margins are more than 30% lower than last year (2.0% net profit margin). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (JP¥4.32b market cap, or US$29.0m). Announcement • Sep 27
ikuyo Co.,Ltd. (TSE:7273) agreed to acquire 51% stake in Kunshan Veritas Automotive Systems Co.,Ltd. from Veritas AG. ikuyo Co.,Ltd. (TSE:7273) agreed to acquire 51% stake in Kunshan Veritas Automotive Systems Co.,Ltd. from Veritas AG on September 25, 2024. As part of transaction ikuyo Co.,Ltd. will acquire the remaining 49% stake in the target by March 31, 2030.
For the period ended December 31, 2023 Kunshan Veritas Automotive Systems Co.,Ltd reported net assets of ¥5.6 billion total assets of ¥8.7 billion turnover of ¥13 billion operating profit of ¥1.8 billion and net income of ¥1.6 billion. The transaction has been approved by the board of ikuyo Co.,Ltd. and is expected to complete on March 31, 2025. New Risk • Sep 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks High level of debt (42% net debt to equity). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (JP¥3.56b market cap, or US$24.7m). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥2,338, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 83% over the past three years. Announcement • Sep 04
ikuyo Co.,Ltd. to Report Q2, 2025 Results on Nov 14, 2024 ikuyo Co.,Ltd. announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JP¥2,075, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 64% over the past three years. New Risk • Aug 05
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (JP¥3.05b market cap, or US$20.8m). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,752, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 28% over the past three years. Announcement • Jun 06
ikuyo Co.,Ltd. to Report Q1, 2025 Results on Aug 09, 2024 ikuyo Co.,Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 22
Full year 2024 earnings released: EPS: JP¥320 (vs JP¥324 in FY 2023) Full year 2024 results: EPS: JP¥320 (down from JP¥324 in FY 2023). Revenue: JP¥17.4b (up 19% from FY 2023). Net income: JP¥488.0m (down 1.0% from FY 2023). Profit margin: 2.8% (down from 3.4% in FY 2023). The decrease in margin was driven by higher expenses. 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 18% per year, which means it is significantly lagging earnings growth. New Risk • May 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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: Major Risk Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.4% net profit margin). Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (JP¥3.32b market cap, or US$21.3m). Announcement • May 18
ikuyo Co.,Ltd., Annual General Meeting, Jun 26, 2024 ikuyo Co.,Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 7.9% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,399, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 116% over the past three years. Announcement • Mar 02
ikuyo Co.,Ltd. to Report Fiscal Year 2024 Results on May 16, 2024 ikuyo Co.,Ltd. announced that they will report fiscal year 2024 results on May 16, 2024 Reported Earnings • Feb 17
Third quarter 2024 earnings released: EPS: JP¥40.69 (vs JP¥137 in 3Q 2023) Third quarter 2024 results: EPS: JP¥40.69 (down from JP¥137 in 3Q 2023). Revenue: JP¥4.32b (flat on 3Q 2023). Net income: JP¥62.0m (down 70% from 3Q 2023). Profit margin: 1.4% (down from 4.9% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,879, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JP¥2,297, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 158% over the past three years. Announcement • Nov 27
ikuyo Co.,Ltd. to Report Q3, 2024 Results on Feb 14, 2024 ikuyo Co.,Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 20
Second quarter 2024 earnings released: EPS: JP¥57.12 (vs JP¥86.01 in 2Q 2023) Second quarter 2024 results: EPS: JP¥57.12 (down from JP¥86.01 in 2Q 2023). Revenue: JP¥4.36b (up 24% from 2Q 2023). Net income: JP¥87.0m (down 34% from 2Q 2023). Profit margin: 2.0% (down from 3.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. New Risk • Nov 17
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 6.4% 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 High level of debt (49% net debt to equity). Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (JP¥2.56b market cap, or US$17.1m). Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,599, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 95% over the past three years. Announcement • Aug 30
ikuyo Co.,Ltd. to Report Q2, 2024 Results on Nov 14, 2023 ikuyo Co.,Ltd. announced that they will report Q2, 2024 results on Nov 14, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥17.07 (vs JP¥38.74 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥17.07 (up from JP¥38.74 loss in 1Q 2023). Revenue: JP¥3.75b (up 28% from 1Q 2023). Net income: JP¥26.0m (up JP¥85.0m from 1Q 2023). Profit margin: 0.7% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Jul 21
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). External Auditor Yuichi Komine is the most experienced director on the board, commencing their role in 2010. Outside Independent Director Satoshi Ninoyu was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • May 31
ikuyo Co.,Ltd. to Report Q1, 2024 Results on Aug 10, 2023 ikuyo Co.,Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 23
Full year 2023 earnings released: EPS: JP¥324 (vs JP¥284 in FY 2022) Full year 2023 results: EPS: JP¥324 (up from JP¥284 in FY 2022). Revenue: JP¥14.6b (up 10% from FY 2022). Net income: JP¥493.0m (up 14% from FY 2022). Profit margin: 3.4% (up from 3.3% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • May 20
ikuyo Co.,Ltd., Annual General Meeting, Jun 28, 2023 ikuyo Co.,Ltd., Annual General Meeting, Jun 28, 2023. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,794, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 130% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 2.7% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥1,835, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 78% over the past three years. Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: JP¥136 (vs JP¥22.32 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥136 (up from JP¥22.32 loss in 3Q 2022). Revenue: JP¥4.28b (up 30% from 3Q 2022). Net income: JP¥208.0m (up JP¥242.0m from 3Q 2022). Profit margin: 4.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥1,490, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 30% over the past three years. Announcement • Nov 30
ikuyo Co.,Ltd. to Report Q3, 2023 Results on Feb 14, 2023 ikuyo Co.,Ltd. announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 30% share price gain to JP¥1,416, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 21% over the past three years. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥85.98 (vs JP¥135 in 2Q 2022) Second quarter 2023 results: EPS: JP¥85.98 (down from JP¥135 in 2Q 2022). Revenue: JP¥3.51b (up 18% from 2Q 2022). Net income: JP¥131.0m (down 36% from 2Q 2022). Profit margin: 3.7% (down from 6.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. No independent directors (5 non-independent directors). External Director Kimitoshi Mori was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 14
First quarter 2023 earnings released: JP¥38.73 loss per share (vs JP¥12.48 loss in 1Q 2022) First quarter 2023 results: JP¥38.73 loss per share (down from JP¥12.48 loss in 1Q 2022). Revenue: JP¥2.92b (down 12% from 1Q 2022). Net loss: JP¥59.0m (loss widened 211% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 03
ikuyo Co.,Ltd. to Report Q1, 2023 Results on Aug 12, 2022 ikuyo Co.,Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022 Reported Earnings • May 22
Full year 2022 earnings released: EPS: JP¥284 (vs JP¥337 loss in FY 2021) Full year 2022 results: EPS: JP¥284 (up from JP¥337 loss in FY 2021). Revenue: JP¥13.2b (up 32% from FY 2021). Net income: JP¥432.0m (up JP¥945.0m from FY 2021). Profit margin: 3.3% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • May 18
ikuyo Co.,Ltd., Annual General Meeting, Jun 28, 2022 ikuyo Co.,Ltd., Annual General Meeting, Jun 28, 2022.