New Risk • May 19
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: 3.8% 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: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥15.6b market cap, or US$98.3m). Reported Earnings • May 15
Full year 2026 earnings released: EPS: JP¥366 (vs JP¥297 in FY 2025) Full year 2026 results: EPS: JP¥366 (up from JP¥297 in FY 2025). Revenue: JP¥63.3b (up 25% from FY 2025). Net income: JP¥2.41b (up 25% from FY 2025). Profit margin: 3.8% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 23% per year. New Risk • May 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.6b (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • May 13
UEKI Corporation, Annual General Meeting, Jun 25, 2026 UEKI Corporation, Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 11 June 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥114 (vs JP¥95.80 in 3Q 2025) Third quarter 2026 results: EPS: JP¥114 (up from JP¥95.80 in 3Q 2025). Revenue: JP¥17.0b (up 35% from 3Q 2025). Net income: JP¥753.0m (up 21% from 3Q 2025). Profit margin: 4.4% (down from 5.0% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 16
UEKI Corporation to Report Q3, 2026 Results on Feb 06, 2026 UEKI Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 09
Second quarter 2026 earnings released: EPS: JP¥92.85 (vs JP¥62.88 in 2Q 2025) Second quarter 2026 results: EPS: JP¥92.85 (up from JP¥62.88 in 2Q 2025). Revenue: JP¥15.3b (up 32% from 2Q 2025). Net income: JP¥610.0m (up 49% from 2Q 2025). Profit margin: 4.0% (up from 3.5% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 05
UEKI Corporation to Report Q2, 2026 Results on Nov 07, 2025 UEKI Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥53.35 (vs JP¥24.47 in 1Q 2025) First quarter 2026 results: EPS: JP¥53.35 (up from JP¥24.47 in 1Q 2025). Revenue: JP¥13.4b (up 23% from 1Q 2025). Net income: JP¥350.0m (up 120% from 1Q 2025). Profit margin: 2.6% (up from 1.5% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Announcement • Jun 29
UEKI Corporation to Report Q1, 2026 Results on Aug 07, 2025 UEKI Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • May 14
Full year 2025 earnings released: EPS: JP¥297 (vs JP¥289 in FY 2024) Full year 2025 results: EPS: JP¥297 (up from JP¥289 in FY 2024). Revenue: JP¥50.7b (down 9.3% from FY 2024). Net income: JP¥1.93b (up 3.0% from FY 2024). Profit margin: 3.8% (up from 3.4% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 12
UEKI Corporation, Annual General Meeting, Jun 26, 2025 UEKI Corporation, Annual General Meeting, Jun 26, 2025. Announcement • Mar 27
UEKI Corporation to Report Fiscal Year 2025 Results on May 12, 2025 UEKI Corporation announced that they will report fiscal year 2025 results on May 12, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥90.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 11 June 2025. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥95.80 (vs JP¥89.71 in 3Q 2024) Third quarter 2025 results: EPS: JP¥95.80 (up from JP¥89.71 in 3Q 2024). Revenue: JP¥12.6b (down 25% from 3Q 2024). Net income: JP¥624.0m (up 7.0% from 3Q 2024). Profit margin: 5.0% (up from 3.5% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Dec 07
UEKI Corporation to Report Q3, 2025 Results on Feb 07, 2025 UEKI Corporation announced that they will report Q3, 2025 results on Feb 07, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥62.87 (vs JP¥28.66 in 2Q 2024) Second quarter 2025 results: EPS: JP¥62.87 (up from JP¥28.66 in 2Q 2024). Revenue: JP¥11.6b (down 11% from 2Q 2024). Net income: JP¥409.0m (up 120% from 2Q 2024). Profit margin: 3.5% (up from 1.4% in 2Q 2024). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 28
Now 21% overvalued Over the last 90 days, the stock has fallen 9.1% to JP¥1,481. The fair value is estimated to be JP¥1,228, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 6.2%. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (JP¥10.4b market cap, or US$74.2m). Announcement • Aug 27
UEKI Corporation to Report Q2, 2025 Results on Nov 08, 2024 UEKI Corporation announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥24.47 (vs JP¥3.39 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥24.47 (up from JP¥3.39 loss in 1Q 2024). Revenue: JP¥10.9b (up 1.5% from 1Q 2024). Net income: JP¥159.0m (up JP¥181.0m from 1Q 2024). Profit margin: 1.5% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. Buy Or Sell Opportunity • Aug 06
Now 24% overvalued Over the last 90 days, the stock has fallen 13% to JP¥1,501. The fair value is estimated to be JP¥1,209, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years, while earnings per share has been flat. Announcement • Jun 06
UEKI Corporation to Report Q1, 2025 Results on Aug 08, 2024 UEKI Corporation announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥289 (vs JP¥205 in FY 2023) Full year 2024 results: EPS: JP¥289 (up from JP¥205 in FY 2023). Revenue: JP¥55.9b (up 14% from FY 2023). Net income: JP¥1.88b (up 39% from FY 2023). Profit margin: 3.4% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 12
UEKI Corporation, Annual General Meeting, Jun 27, 2024 UEKI Corporation, Annual General Meeting, Jun 27, 2024. Announcement • Mar 21
UEKI Corporation to Report Fiscal Year 2024 Results on May 10, 2024 UEKI Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.7%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥89.71 (vs JP¥63.53 in 3Q 2023) Third quarter 2024 results: EPS: JP¥89.71 (up from JP¥63.53 in 3Q 2023). Revenue: JP¥16.9b (up 19% from 3Q 2023). Net income: JP¥583.0m (up 39% from 3Q 2023). Profit margin: 3.5% (up from 3.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 29
UEKI Corporation to Report Q3, 2024 Results on Feb 07, 2024 UEKI Corporation announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 13
Second quarter 2024 earnings released: EPS: JP¥28.65 (vs JP¥58.56 in 2Q 2023) Second quarter 2024 results: EPS: JP¥28.65 (down from JP¥58.56 in 2Q 2023). Revenue: JP¥13.0b (up 12% from 2Q 2023). Net income: JP¥186.0m (down 52% from 2Q 2023). Profit margin: 1.4% (down from 3.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Sep 28
UEKI Corporation to Report Q2, 2024 Results on Nov 10, 2023 UEKI Corporation announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: JP¥3.39 loss per share (vs JP¥12.39 loss in 1Q 2023) First quarter 2024 results: JP¥3.39 loss per share (improved from JP¥12.39 loss in 1Q 2023). Revenue: JP¥10.7b (up 9.6% from 1Q 2023). Net loss: JP¥22.0m (loss narrowed 73% from 1Q 2023). 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 4% per year, which means it is well ahead of earnings. Announcement • May 31
UEKI Corporation to Report Q1, 2024 Results on Aug 10, 2023 UEKI Corporation announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥205 (vs JP¥218 in FY 2022) Full year 2023 results: EPS: JP¥205 (down from JP¥218 in FY 2022). Revenue: JP¥48.9b (up 2.6% from FY 2022). Net income: JP¥1.35b (down 6.2% from FY 2022). Profit margin: 2.8% (down from 3.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 13
UEKI Corporation, Annual General Meeting, Jun 27, 2023 UEKI Corporation, Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥55.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.6%). Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: JP¥63.52 (vs JP¥66.06 in 3Q 2022) Third quarter 2023 results: EPS: JP¥63.52 (down from JP¥66.06 in 3Q 2022). Revenue: JP¥14.1b (up 11% from 3Q 2022). Net income: JP¥419.0m (down 4.1% from 3Q 2022). Profit margin: 3.0% (down from 3.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Dec 07
UEKI Corporation to Report Q3, 2023 Results on Feb 06, 2023 UEKI Corporation announced that they will report Q3, 2023 results on Feb 06, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥58.56 (vs JP¥61.65 in 2Q 2022) Second quarter 2023 results: EPS: JP¥58.56 (down from JP¥61.65 in 2Q 2022). Revenue: JP¥11.6b (down 5.0% from 2Q 2022). Net income: JP¥388.0m (down 4.9% from 2Q 2022). Profit margin: 3.3% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. 2 independent directors (6 non-independent directors). External Independent Director Kunimitsu Fukazawa was the last independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: JP¥58.56 (vs JP¥61.65 in 2Q 2022) Second quarter 2023 results: EPS: JP¥58.56 (down from JP¥61.65 in 2Q 2022). Revenue: JP¥11.6b (down 5.0% from 2Q 2022). Net income: JP¥388.0m (down 4.9% from 2Q 2022). Profit margin: 3.3% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Announcement • Oct 11
UEKI Corporation (TSE:1867) announces an Equity Buyback for 150,000 shares, representing 2.26% for ¥210 million. UEKI Corporation (TSE:1867) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 2.26% of its total shares outstanding (excluding treasury shares), for a total of ¥210 million. The purpose of repurchase program is to enhance shareholder returns and to improve capital efficiency. The repurchase program is valid till March 31, 2023. As of September 30, 2022, the company had 6,632,853 shares outstanding (excluding treasury shares) and had 240,675 shares in treasury. Announcement • Sep 01
UEKI Corporation to Report Q2, 2023 Results on Nov 10, 2022 UEKI Corporation announced that they will report Q2, 2023 results on Nov 10, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: JP¥12.39 loss per share (vs JP¥12.84 profit in 1Q 2022) First quarter 2023 results: JP¥12.39 loss per share (down from JP¥12.84 profit in 1Q 2022). Revenue: JP¥9.79b (up 4.1% from 1Q 2022). Net loss: JP¥82.0m (down 197% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Jun 29
UEKI Corporation to Report Q1, 2023 Results on Aug 10, 2022 UEKI Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥218 (vs JP¥257 in FY 2021) Full year 2022 results: EPS: JP¥218 (down from JP¥257 in FY 2021). Revenue: JP¥47.7b (down 2.4% from FY 2021). Net income: JP¥1.44b (down 15% from FY 2021). Profit margin: 3.0% (down from 3.5% in FY 2021). The decrease in margin was driven by lower revenue. 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 9% per year. Announcement • May 14
UEKI Corporation, Annual General Meeting, Jun 28, 2022 UEKI Corporation, Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. External Independent Director Kunimitsu Fukazawa was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
UEKI Corporation to Report Fiscal Year 2022 Results on May 12, 2022 UEKI Corporation announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (3.1%). Reported Earnings • Feb 08
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥66.04 (down from JP¥88.85 in 3Q 2021). Revenue: JP¥12.7b (down 3.3% from 3Q 2021). Net income: JP¥437.0m (down 26% from 3Q 2021). Profit margin: 3.4% (down from 4.5% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS JP¥61.65 (vs JP¥121 in 2Q 2021) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2022 results: Revenue: JP¥12.2b (flat on 2Q 2021). Net income: JP¥408.0m (down 49% from 2Q 2021). Profit margin: 3.3% (down from 6.5% in 2Q 2021). 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 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥12.84 (vs JP¥6.65 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥9.41b (up 18% from 1Q 2021). Net income: JP¥85.0m (up JP¥129.0m from 1Q 2021). Profit margin: 0.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥514 (vs JP¥217 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥48.8b (down 6.0% from FY 2020). Net income: JP¥1.70b (up 19% from FY 2020). Profit margin: 3.5% (up from 2.8% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥90.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (2.6%). Is New 90 Day High Low • Mar 09
New 90-day high: JP¥2,933 The company is up 5.0% from its price of JP¥2,782 on 09 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 8.0% over the same period. Reported Earnings • Feb 10
Third quarter 2021 earnings released The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥13.2b (down 6.8% from 3Q 2020). Net income: JP¥588.0m (up 6.7% from 3Q 2020). Profit margin: 4.5% (up from 3.9% in 3Q 2020). The increase in margin was driven by lower expenses. 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. Is New 90 Day High Low • Feb 09
New 90-day high: JP¥2,915 The company is up 1.0% from its price of JP¥2,889 on 11 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 8.0% over the same period. Announcement • Dec 25
UEKI Corporation to Report Q3, 2021 Results on Feb 05, 2021 UEKI Corporation announced that they will report Q3, 2021 results on Feb 05, 2021 Announcement • Aug 26
UEKI Corporation to Report Q2, 2021 Results on Nov 13, 2020 UEKI Corporation announced that they will report Q2, 2021 results on Nov 13, 2020 
