Reported Earnings • May 16
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥361 (down from JP¥462 in FY 2025). Revenue: JP¥352.7b (flat on FY 2025). Net income: JP¥34.1b (down 24% from FY 2025). Profit margin: 9.7% (down from 13% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 5.6% 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 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Nifco Inc., Annual General Meeting, Jun 24, 2026 Nifco Inc., Annual General Meeting, Jun 24, 2026. Announcement • May 09
Nifco Inc. to Report Fiscal Year 2026 Results on May 14, 2026 Nifco Inc. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 8.4% 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 (2.8%). Buy Or Sell Opportunity • Mar 02
Now 23% undervalued Over the last 90 days, the stock has risen 12% to JP¥5,313. The fair value is estimated to be JP¥6,902, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 11% in the next 2 years. Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥107 (down from JP¥130 in 3Q 2025). Revenue: JP¥89.2b (up 1.6% from 3Q 2025). Net income: JP¥10.1b (down 20% from 3Q 2025). Profit margin: 11% (down from 14% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 28
Now 21% undervalued Over the last 90 days, the stock has risen 4.4% to JP¥4,769. The fair value is estimated to be JP¥6,002, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 18% in the next 2 years. Price Target Changed • Dec 02
Price target increased by 7.3% to JP¥5,236 Up from JP¥4,879, the current price target is an average from 7 analysts. New target price is 10% above last closing price of JP¥4,745. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥377 for next year compared to JP¥462 last year. Declared Dividend • Nov 29
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.5% over the next 3 years. However, it would need to fall by 91% to increase the payout ratio to a potentially unsustainable range. Announcement • Nov 29
Nifco Inc. to Report Q3, 2026 Results on Feb 05, 2026 Nifco Inc. announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 01
Second quarter 2026 earnings: EPS in line with expectations, revenues disappoint Second quarter 2026 results: EPS: JP¥91.22 (up from JP¥67.17 in 2Q 2025). Revenue: JP¥87.6b (down 2.8% from 2Q 2025). Net income: JP¥8.66b (up 32% from 2Q 2025). Profit margin: 9.9% (up from 7.3% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Nifco Inc. (TSE:7988) announces an Equity Buyback for 1,250,000 shares, representing 1.32% for ¥5,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 1,250,000 shares, representing 1.57% of its total shares outstanding excluding treasury shares, for a total of ¥5,000 million. The purpose of repurchase program is to enhance capital funds efficiency and enable a flexible financial policy in response to changes in the business environment. The repurchase program is valid till January 28, 2026. As of October 31, 2025, the company had 94,459,807 shares outstanding excluding treasury shares and had 5,797,246 shares in treasury. Price Target Changed • Oct 10
Price target increased by 9.9% to JP¥4,836 Up from JP¥4,400, the current price target is an average from 7 analysts. New target price is 8.0% above last closing price of JP¥4,476. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥363 for next year compared to JP¥462 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 25 November 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.0%). Announcement • Sep 01
Nifco Inc. to Report Q2, 2026 Results on Oct 31, 2025 Nifco Inc. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥103 (vs JP¥89.96 in 1Q 2025) First quarter 2026 results: EPS: JP¥103 (up from JP¥89.96 in 1Q 2025). Revenue: JP¥85.5b (flat on 1Q 2025). Net income: JP¥9.83b (up 11% from 1Q 2025). Profit margin: 12% (up from 10% in 1Q 2025). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Nifco Inc. (TSE:7988) announces an Equity Buyback for 1,500,000 shares, representing 1.57% for ¥5,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 1.57% of its total shares outstanding excluding treasury shares, for a total of ¥5,000 million. The purpose of repurchase program is to enhance capital funds efficiency and enable a flexible financial policy in response to changes in the business
environment. The repurchase program is valid till October 30, 2025. As of June 30, 2025, the company had 95,552,281 shares outstanding excluding treasury shares and had 4,704,772 shares in treasury. Declared Dividend • Jul 09
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 29th September 2025 Payment date: 25th November 2025 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.2% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range. Announcement • Jun 27
Nifco Inc. to Report Q1, 2026 Results on Jul 31, 2025 Nifco Inc. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jun 27
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥462 (up from JP¥183 in FY 2024). Revenue: JP¥353.0b (down 5.0% from FY 2024). Net income: JP¥44.8b (up 145% from FY 2024). Profit margin: 13% (up from 4.9% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 26
Nifco Inc. Announces Board and Committees Appointments Nifco Inc. at the general shareholders meeting held on June 24, 2025 announced that the new management structure was formally decided as follow: Michihiro Fukuo Director, Head of R&D & CTO, Head of Manufacturing & CPO (NEW); Satoshi Yamahata Director (External) (NEW); Toshiki Yauchi Audit & Supervisory Committee Member (NEW); Izumi Hayashi Supervisory Committee Member; Mitsuhiro Matsumoto Audit & Supervisory Committee Member; Masaya Nagaoka Executive Officer, Head of Group Strategy Office (as of July 1st, 2025); Norihiko Murata Executive Officer, Head of ESG Promotion Office; Jin Jing-Jun Executive Officer, China 5 Plant Control Officer, President and CEO Dongguan Nifco Co Ltd.; Joan Oliveras Executive Officer, Head of Management Control, CFO & CSO, Europe Business Control Officer (act.); Han Sagong Executive Officer, Nifco Korea Group Control Officer, resident & CEO Nifco Korea Inc. Reported Earnings • May 13
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥462 (up from JP¥183 in FY 2024). Revenue: JP¥353.0b (down 5.0% from FY 2024). Net income: JP¥44.8b (up 145% from FY 2024). Profit margin: 13% (up from 4.9% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). Announcement • Mar 04
Nifco Inc. to Report Fiscal Year 2025 Results on May 12, 2025 Nifco Inc. announced that they will report fiscal year 2025 results on May 12, 2025 Reported Earnings • Feb 05
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: JP¥130 (up from JP¥61.06 in 3Q 2024). Revenue: JP¥87.8b (down 7.5% from 3Q 2024). Net income: JP¥12.5b (up 106% from 3Q 2024). Profit margin: 14% (up from 6.4% in 3Q 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Dec 26
Nifco Inc. (TSE:7988) announces an Equity Buyback for 580,000 shares, representing 0.6% for ¥2,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 580,000 shares, representing 0.60% of its total shares outstanding excluding treasury shares, for a total of ¥2,000 million. The purpose of repurchase program is to improve capital efficiency and enable flexible financial policies in response to the business environment. The repurchase program is valid till February 26, 2025. As of November 2024, the company had 95,922,519 shares outstanding excluding treasury shares and had 4,334,534 shares in treasury. Announcement • Nov 30
Nifco Inc. to Report Q3, 2025 Results on Feb 04, 2025 Nifco Inc. announced that they will report Q3, 2025 results on Feb 04, 2025 Declared Dividend • Nov 26
First half dividend increased to JP¥35.00 Dividend of JP¥35.00 is 9.4% higher than last year. Ex-date: 28th March 2025 Payment date: 23rd June 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 83% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 05
Nifco Inc. to Report Q3, 2024 Results on Nov 14, 2024 Nifco Inc. announced that they will report Q3, 2024 results on Nov 14, 2024 Reported Earnings • Nov 02
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: JP¥67.17 (down from JP¥76.21 in 2Q 2024). Revenue: JP¥90.1b (flat on 2Q 2024). Net income: JP¥6.55b (down 14% from 2Q 2024). Profit margin: 7.3% (down from 8.4% in 2Q 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.5%). Announcement • Aug 27
Nifco Inc. to Report Q2, 2025 Results on Oct 31, 2024 Nifco Inc. announced that they will report Q2, 2025 results on Oct 31, 2024 Announcement • Aug 22
Nifco Inc. (TSE:7988) announces an Equity Buyback for 850,000 shares, representing 0.87% for ¥3,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 850,000 shares, representing 0.87% of its total shares outstanding excluding treasury shares, for a total of ¥3,000 million. The purpose of repurchase program is to improve capital efficiency and enable flexible financial policies in response to the business environment. The repurchase program is valid till October 31, 2024. As of July, 2024, the company had 98,031,327 shares outstanding excluding treasury shares and had 2,225,726 shares in treasury. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥3,174, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Auto Components industry in Japan. Total loss to shareholders of 9.4% over the past three years. New Risk • Aug 02
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: 4.7% Last year net profit margin: 6.8% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Declared Dividend • Jul 11
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Nifco Inc. to Report Q1, 2025 Results on Jul 31, 2024 Nifco Inc. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • Jun 25
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥183 (down from JP¥211 in FY 2023). Revenue: JP¥371.6b (up 16% from FY 2023). Net income: JP¥18.3b (down 14% from FY 2023). Profit margin: 4.9% (down from 6.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Announcement • May 18
Nifco Inc. (TSE:7988) announces an Equity Buyback for 1,300,000 shares, representing 1.3% for ¥4,999.8 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 1,300,000 shares, representing 1.3% of its issued share capital (excluding treasury stock), for a total purchase price of ¥4,999.8 million. The shares will be repurchased at a price of ¥3,846 per share. The purpose of the program is to improve capital efficiency and enable flexible financial policies in response to the business environment. Reported Earnings • May 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥183 (down from JP¥211 in FY 2023). Revenue: JP¥371.6b (up 16% from FY 2023). Net income: JP¥18.3b (down 14% from FY 2023). Profit margin: 4.9% (down from 6.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Announcement • May 15
Nifco Inc., Annual General Meeting, Jun 20, 2024 Nifco Inc., Annual General Meeting, Jun 20, 2024. Major Estimate Revision • Apr 17
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥232 to JP¥199 per share. Revenue forecast steady at JP¥368.4b. Net income forecast to grow 4.4% next year vs 8.6% growth forecast for Auto Components industry in Japan. Consensus price target broadly unchanged at JP¥4,745. Share price fell 3.0% to JP¥3,789 over the past week. Announcement • Apr 16
AEQUITA SE & Co KGaA completed the acquisition of Nifco Germany Gmbh and Nifco KTW America Cooperation from Nifco Inc. (TSE:7988). AEQUITA SE & Co KGaA entered into preliminary agreement to acquire Nifco Germany Gmbh and Nifco KTW America Cooperation from Nifco Inc. (TSE:7988) on January 1, 2024. As of 2023, As of March 12, 2024, Date of conclusion of the contract is March 14, 2024. Date of transfer of equity (planned) on March 28, 2024. Mauritz von Einem of ARQIS Rechtsanwälte acted as legal advisor to Nifco Inc.
AEQUITA SE & Co KGaA completed the acquisition of Nifco Germany Gmbh and Nifco KTW America Cooperation from Nifco Inc. (TSE:7988) on April 15, 2024. Announcement • Mar 27
Nifco Inc. to Report Fiscal Year 2024 Results on May 13, 2024 Nifco Inc. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 20%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from JP¥362.6b to JP¥367.9b. EPS estimate fell from JP¥288 to JP¥230 per share. Net income forecast to grow 13% next year vs 8.8% growth forecast for Auto Components industry in Japan. Consensus price target up from JP¥4,607 to JP¥4,714. Share price was steady at JP¥3,794 over the past week. Announcement • Mar 12
Nifco Inc. (TSE:7988) announces an Equity Buyback for 550,000 shares, representing 0.55% for ¥2,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 550,000 shares, representing 0.55% of its total shares outstanding excluding treasury shares, for a total of ¥2,000 million. The purpose of repurchase program is to improve capital efficiency and enable flexible financial policy according to the business environment. The repurchase program is valid till April 30, 2024. As of February 29, 2024, the company had 99,776,985 shares outstanding excluding treasury shares and had 480,068 shares in treasury. Reported Earnings • Feb 08
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: JP¥61.06 (up from JP¥46.77 in 3Q 2023). Revenue: JP¥94.9b (up 11% from 3Q 2023). Net income: JP¥6.07b (up 30% from 3Q 2023). Profit margin: 6.4% (up from 5.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 28
Nifco Inc. to Report Q3, 2024 Results on Feb 05, 2024 Nifco Inc. announced that they will report Q3, 2024 results on Feb 05, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: JP¥76.21 (up from JP¥57.90 in 2Q 2023). Revenue: JP¥90.9b (up 20% from 2Q 2023). Net income: JP¥7.61b (up 31% from 2Q 2023). Profit margin: 8.4% (up from 7.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Sep 27
Nifco Inc. (TSE:7988) announces an Equity Buyback for 470,000 shares, representing 0.47% for ¥2,000 million. Nifco Inc. (TSE:7988) announces a share repurchase program. Under the program, the company will repurchase up to 470,000 shares, representing 0.47% of its issued share capital (excluding treasury stock), for a total purchase price of ¥2,000 million. The purpose of the program is to improve capital efficiency and enable flexible financial policies in response to the business environment. The program will continue through November 30, 2023. As of end of August 2023, the company had 100,247,053 issued shares (excluding treasury stock) and 7,261,901 treasury shares. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥32.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Announcement • Aug 30
Nifco Inc. to Report Q2, 2024 Results on Oct 31, 2023 Nifco Inc. announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2024 results: EPS: JP¥97.49 (up from JP¥80.21 in 1Q 2023). Revenue: JP¥88.0b (up 21% from 1Q 2023). Net income: JP¥9.73b (up 21% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Auto Components industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 21% per year. Board Change • Jul 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Izumi Hayashi was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 28
Nifco Inc. to Report Q1, 2024 Results on Jul 31, 2023 Nifco Inc. announced that they will report Q1, 2024 results on Jul 31, 2023