Declared Dividend • Jul 02
First half dividend of JP¥26.50 announced Shareholders will receive a dividend of JP¥26.50. Ex-date: 29th October 2026 Payment date: 26th January 2027 Dividend yield will be 3.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (4% earnings payout ratio) but not covered by cash flows (205% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to decline by 79% over the next year. However, it would need to fall by 95% to increase the payout ratio to a potentially unsustainable range. New Risk • Jun 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 80% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Dividend is not well covered by cash flows (205% cash payout ratio). Reported Earnings • Jun 06
Second quarter 2026 earnings released: EPS: JP¥40.63 (vs JP¥27.40 in 2Q 2025) Second quarter 2026 results: EPS: JP¥40.63 (up from JP¥27.40 in 2Q 2025). Revenue: JP¥103.5b (up 38% from 2Q 2025). Net income: JP¥1.50b (up 46% from 2Q 2025). Profit margin: 1.5% (up from 1.4% in 2Q 2025). Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 141% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥53.50 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 01 July 2026. Payout ratio is a comfortable 4.2% 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 (2.7%). Reported Earnings • Mar 08
First quarter 2026 earnings released: EPS: JP¥902 (vs JP¥20.02 in 1Q 2025) First quarter 2026 results: EPS: JP¥902 (up from JP¥20.02 in 1Q 2025). Revenue: JP¥105.6b (up 36% from 1Q 2025). Net income: JP¥33.4b (up JP¥32.6b from 1Q 2025). Profit margin: 32% (up from 1.0% in 1Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 69% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 69% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,340, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 180% over the past three years. Declared Dividend • Feb 26
Final dividend of JP¥53.50 announced Shareholders will receive a dividend of JP¥53.50. Ex-date: 28th April 2026 Payment date: 1st July 2026 Dividend yield will be 2.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio). However, it is covered by cash flows (60% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 24% to bring the payout ratio under control. EPS is expected to grow by 4.5% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Dec 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% 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 Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Dec 14
Full year 2025 earnings released: EPS: JP¥225 (vs JP¥52.59 in FY 2024) Full year 2025 results: EPS: JP¥225 (up from JP¥52.59 in FY 2024). Revenue: JP¥304.1b (down 1.4% from FY 2024). Net income: JP¥8.42b (up 327% from FY 2024). Profit margin: 2.8% (up from 0.6% in FY 2024). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Announcement • Dec 12
Hi-Lex Corporation, Annual General Meeting, Jan 24, 2026 Hi-Lex Corporation, Annual General Meeting, Jan 24, 2026. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 27 January 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Announcement • Oct 02
Hi-Lex Corporation to Report Fiscal Year 2025 Results on Dec 12, 2025 Hi-Lex Corporation announced that they will report fiscal year 2025 results on Dec 12, 2025 Reported Earnings • Sep 06
Third quarter 2025 earnings released: EPS: JP¥43.23 (vs JP¥99.75 in 3Q 2024) Third quarter 2025 results: EPS: JP¥43.23 (down from JP¥99.75 in 3Q 2024). Revenue: JP¥75.3b (down 7.1% from 3Q 2024). Net income: JP¥1.62b (down 57% from 3Q 2024). Profit margin: 2.2% (down from 4.6% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 02
First half dividend of JP¥23.00 announced Shareholders will receive a dividend of JP¥23.00. Ex-date: 30th October 2025 Payment date: 27th January 2026 Dividend yield will be 2.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (21% 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 over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 07
Second quarter 2025 earnings released: EPS: JP¥27.40 (vs JP¥8.05 loss in 2Q 2024) Second quarter 2025 results: EPS: JP¥27.40 (up from JP¥8.05 loss in 2Q 2024). Revenue: JP¥74.8b (down 1.6% from 2Q 2024). Net income: JP¥1.03b (up JP¥1.33b from 2Q 2024). Profit margin: 1.4% (up from net loss in 2Q 2024). 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. Announcement • Jun 06
Hi-Lex Corporation Announces Second Quarter-End Dividend for the Six Months Ended April 30, 2025, Payable on July 01, 2025 Hi-Lex Corporation announced second quarter-end dividend of JPY 23.00 per share for the six months ended April 30, 2025 compared to JPY 20.00 per share paid a year ago. Scheduled date to commence dividend payments: July 01, 2025. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,917, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 78% over the past three years. New Risk • Jun 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 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (206% cash payout ratio). Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Announcement • May 14
Hi-Lex Corporation (TSE:7279) entered into share transfer agreement to acquire Mitsui Kinzoku ACT Corporation from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥11.3 billion. Hi-Lex Corporation (TSE:7279) entered into share transfer agreement to acquire Mitsui Kinzoku ACT Corporation from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥11.3 billion on May 13, 2025. A cash consideration of ¥11.3 billion will be paid by Hi-Lex Corporation for 14,800,000 shares.
For the period ending March 31, 2025, Mitsui Kinzoku ACT Corporation reported total revenue of ¥95.83 billion, EBIT of ¥1.01 billion and net loss of ¥370 million. As of March 31, 2025, Mitsui Kinzoku ACT Corporation reported total assets of ¥78.21 billion and total common equity of ¥43.8 billion.
The transaction is subject to approval by Japanese and foreign competition law authorities and other conditions, such as approval or authorization by the relevant authorities as required by law. The expected completion of the transaction is from October 2025 to December 2025. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (3.9%). New Risk • Apr 07
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 Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (206% cash payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,235, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 17% over the past three years. Reported Earnings • Mar 08
First quarter 2025 earnings released: EPS: JP¥20.02 (vs JP¥13.17 in 1Q 2024) First quarter 2025 results: EPS: JP¥20.02 (up from JP¥13.17 in 1Q 2024). Revenue: JP¥77.5b (down 1.1% from 1Q 2024). Net income: JP¥751.0m (up 52% from 1Q 2024). Profit margin: 1.0% (up from 0.6% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 12
Final dividend of JP¥23.00 announced Shareholders will receive a dividend of JP¥23.00. Ex-date: 28th April 2025 Payment date: 1st July 2025 Dividend yield will be 2.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (206% cash payout ratio). The dividend has increased 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 15% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Reported Earnings • Dec 16
Full year 2024 earnings released: EPS: JP¥52.59 (vs JP¥79.73 loss in FY 2023) Full year 2024 results: EPS: JP¥52.59 (up from JP¥79.73 loss in FY 2023). Revenue: JP¥308.4b (up 3.3% from FY 2023). Net income: JP¥1.97b (up JP¥4.96b from FY 2023). Profit margin: 0.6% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 13
Hi-Lex Corporation, Annual General Meeting, Jan 25, 2025 Hi-Lex Corporation, Annual General Meeting, Jan 25, 2025. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 29 January 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.4%). Announcement • Oct 02
Hi-Lex Corporation to Report Fiscal Year 2024 Results on Dec 13, 2024 Hi-Lex Corporation announced that they will report fiscal year 2024 results on Dec 13, 2024 Reported Earnings • Sep 08
Third quarter 2024 earnings released: EPS: JP¥99.75 (vs JP¥61.79 in 3Q 2023) Third quarter 2024 results: EPS: JP¥99.75 (up from JP¥61.79 in 3Q 2023). Revenue: JP¥81.1b (up 5.7% from 3Q 2023). Net income: JP¥3.74b (up 61% from 3Q 2023). Profit margin: 4.6% (up from 3.0% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 43% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Jun 11
Second quarter 2024 earnings released: JP¥8.05 loss per share (vs JP¥13.28 loss in 2Q 2023) Second quarter 2024 results: JP¥8.05 loss per share (improved from JP¥13.28 loss in 2Q 2023). Revenue: JP¥76.0b (up 7.6% from 2Q 2023). Net loss: JP¥302.0m (loss narrowed 39% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 19
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 03 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.5%). Reported Earnings • Mar 09
First quarter 2024 earnings released: EPS: JP¥13.17 (vs JP¥12.32 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥13.17 (up from JP¥12.32 loss in 1Q 2023). Revenue: JP¥78.4b (up 8.4% from 1Q 2023). Net income: JP¥494.0m (up JP¥956.0m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 03
Full year 2023 earnings released: JP¥79.73 loss per share (vs JP¥190 loss in FY 2022) Full year 2023 results: JP¥79.73 loss per share (improved from JP¥190 loss in FY 2022). Revenue: JP¥298.6b (up 17% from FY 2022). Net loss: JP¥2.99b (loss narrowed 58% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 12
Full year 2023 earnings released: JP¥79.73 loss per share (vs JP¥190 loss in FY 2022) Full year 2023 results: JP¥79.73 loss per share (improved from JP¥190 loss in FY 2022). Revenue: JP¥298.6b (up 17% from FY 2022). Net loss: JP¥2.99b (loss narrowed 58% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Dec 10
Hi-Lex Corporation, Annual General Meeting, Jan 27, 2024 Hi-Lex Corporation, Annual General Meeting, Jan 27, 2024. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥17.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 30 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.7%). Reported Earnings • Sep 11
Third quarter 2023 earnings released: EPS: JP¥61.79 (vs JP¥61.07 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥61.79 (up from JP¥61.07 loss in 3Q 2022). Revenue: JP¥76.8b (up 24% from 3Q 2022). Net income: JP¥2.32b (up JP¥4.61b from 3Q 2022). Profit margin: 3.0% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Jun 04
Second quarter 2023 earnings released: JP¥13.27 loss per share (vs JP¥23.62 loss in 2Q 2022) Second quarter 2023 results: JP¥13.27 loss per share (improved from JP¥23.62 loss in 2Q 2022). Revenue: JP¥70.6b (up 17% from 2Q 2022). Net loss: JP¥498.0m (loss narrowed 44% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 55% 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. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥17.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 03 July 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.0%). Reported Earnings • Mar 04
First quarter 2023 earnings released: JP¥12.32 loss per share (vs JP¥3.82 profit in 1Q 2022) First quarter 2023 results: JP¥12.32 loss per share (down from JP¥3.82 profit in 1Q 2022). Revenue: JP¥72.3b (up 19% from 1Q 2022). Net loss: JP¥462.0m (down 423% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 52% 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. Reported Earnings • Feb 02
Full year 2022 earnings released: JP¥190 loss per share (vs JP¥129 profit in FY 2021) Full year 2022 results: JP¥190 loss per share (down from JP¥129 profit in FY 2021). Revenue: JP¥255.6b (up 17% from FY 2021). Net loss: JP¥7.12b (down 245% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Dec 11
Hi-Lex Corporation, Annual General Meeting, Jan 28, 2023 Hi-Lex Corporation, Annual General Meeting, Jan 28, 2023. Reported Earnings • Dec 11
Full year 2022 earnings released: JP¥190 loss per share (vs JP¥129 profit in FY 2021) Full year 2022 results: JP¥190 loss per share (down from JP¥129 profit in FY 2021). Revenue: JP¥255.6b (up 17% from FY 2021). Net loss: JP¥7.12b (down 245% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Hiromi Yoshikawa was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 31 January 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.2%). Announcement • Oct 01
Hi-Lex Corporation to Report Fiscal Year 2022 Results on Dec 09, 2022 Hi-Lex Corporation announced that they will report fiscal year 2022 results on Dec 09, 2022 Reported Earnings • Sep 11
Third quarter 2022 earnings released: JP¥61.07 loss per share (vs JP¥44.75 profit in 3Q 2021) Third quarter 2022 results: JP¥61.07 loss per share (down from JP¥44.75 profit in 3Q 2021). Revenue: JP¥62.2b (up 16% from 3Q 2021). Net loss: JP¥2.29b (down 235% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 05
Second quarter 2022 earnings released: JP¥23.62 loss per share (vs JP¥110 profit in 2Q 2021) Second quarter 2022 results: JP¥23.62 loss per share (down from JP¥110 profit in 2Q 2021). Revenue: JP¥60.2b (up 4.3% from 2Q 2021). Net loss: JP¥886.0m (down 121% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 13% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Hiromi Yoshikawa was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 01 July 2022. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.1%). Reported Earnings • Mar 06
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥3.82 (down from JP¥48.18 in 1Q 2021). Revenue: JP¥60.6b (up 5.0% from 1Q 2021). Net income: JP¥143.0m (down 92% from 1Q 2021). Profit margin: 0.2% (down from 3.2% in 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥129 (up from JP¥92.40 loss in FY 2020). Revenue: JP¥217.8b (up 11% from FY 2020). Net income: JP¥4.90b (up JP¥8.41b from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 14
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥129 (up from JP¥92.40 loss in FY 2020). Revenue: JP¥217.8b (up 11% from FY 2020). Net income: JP¥4.90b (up JP¥8.41b from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 25 January 2022. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.5%). Reported Earnings • Sep 06
Third quarter 2021 earnings released: EPS JP¥44.75 (vs JP¥89.29 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥53.6b (up 57% from 3Q 2020). Net income: JP¥1.70b (up JP¥5.10b from 3Q 2020). Profit margin: 3.2% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 05
Second quarter 2021 earnings released: EPS JP¥110 (vs JP¥6.92 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥57.8b (up 22% from 2Q 2020). Net income: JP¥4.17b (up JP¥4.44b from 2Q 2020). Profit margin: 7.2% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Jun 05
Hi-Lex Corporation (TSE:7279) announces an Equity Buyback for 400,000 shares, representing 1.05% for ¥500 million. Hi-Lex Corporation (TSE:7279) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares of common stock, representing 1.05% for ¥500 million. The purpose of the program is implementing agile capital policies that can respond to changes in the business environment and returning profits to shareholders. The program is valid till August 31, 2021. As of April 30, 2021, the company had 38,089,872 shares (Excluding treasury stock) and 126,887 shares in treasury. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 27 July 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.8%). In line with average of industry peers (2.0%). Reported Earnings • Mar 07
First quarter 2021 earnings released: EPS JP¥48.18 (vs JP¥18.65 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: JP¥57.7b (down 2.8% from 1Q 2020). Net income: JP¥1.83b (up 158% from 1Q 2020). Profit margin: 3.2% (up from 1.2% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 13
New 90-day high: JP¥1,657 The company is up 40% from its price of JP¥1,185 on 13 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 27% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: JP¥1,579 The company is up 33% from its price of JP¥1,183 on 23 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: JP¥1,483 The company is up 20% from its price of JP¥1,238 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 14% over the same period. Reported Earnings • Dec 13
Full year 2020 earnings released: JP¥92.40 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: JP¥195.8b (down 18% from FY 2019). Net loss: JP¥3.51b (down 201% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 75% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Dec 13
Hi-Lex Corporation, Annual General Meeting, Jan 23, 2021 Hi-Lex Corporation, Annual General Meeting, Jan 23, 2021. Is New 90 Day High Low • Dec 04
New 90-day high: JP¥1,320 The company is up 14% from its price of JP¥1,153 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. Announcement • Jun 28
Hi-Lex Corporation to Report Fiscal Year 2020 Results on Dec 11, 2020 Hi-Lex Corporation announced that they will report fiscal year 2020 results on Dec 11, 2020 
