Announcement • Jun 25
Fuji Corporation Announces Resignation of Makoto Iwasaki as Outside Board Member, Effective June 22, 2026 Fuji Corporation announced that Mr. Makoto Iwasaki, an Outside Board Member of the Company, resigned from his position as Director effective June 22, 2026. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥8,283, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Machinery industry in Japan. Total returns to shareholders of 247% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥13,219 per share. New Risk • Jun 13
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: 2.5% 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 (8.0% average weekly change). Large one-off items impacting financial results. Announcement • Jun 03
Fuji Corporation to Report Q1, 2027 Results on Aug 03, 2026 Fuji Corporation announced that they will report Q1, 2027 results on Aug 03, 2026 Reported Earnings • May 17
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥179 (up from JP¥120 in FY 2025). Revenue: JP¥180.6b (up 42% from FY 2025). Net income: JP¥15.7b (up 44% from FY 2025). Profit margin: 8.7% (up from 8.6% in FY 2025). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Live News • May 15
Fuji Reports Strong FY2026 Earnings and Dividend Hike With Bullish FY2027 Growth Forecast Fuji reported strong FY2026 results, with sales and profits supported by solid demand for its robotics solutions in Asia and improved margins across the group.
The Machine Tools segment showed weaker performance, even as the company maintained a high equity ratio that supports its growth and investment plans.
Management sharply raised the FY2026 dividend and issued bullish FY2027 guidance, including a forecast for sales growth and more than double profit attributable to owners, alongside a focus on AI and automotive markets and an upcoming mid-term plan update.
The combination of higher dividends, robust balance sheet strength and management’s confidence in FY2027 points to a company leaning into growth areas such as AI-enabled robotics and automotive automation while still emphasizing shareholder returns.
Investors may wish to monitor how the weaker Machine Tools segment develops and how execution on the updated mid-term business plan translates into actual earnings and cash flow over the next few years. Announcement • May 14
Fuji Corporation, Annual General Meeting, Jun 26, 2026 Fuji Corporation, Annual General Meeting, Jun 26, 2026. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥7,012, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 16x in the Machinery industry in Japan. Total returns to shareholders of 224% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,516 per share. Announcement • May 09
Fuji Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Fuji Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 14, 2026 Buy Or Sell Opportunity • May 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 69% to JP¥6,615. The fair value is estimated to be JP¥5,511, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 7.3%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥5,810, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Machinery industry in Japan. Total returns to shareholders of 189% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,600 per share. New Risk • Mar 23
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 9.1% 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. This is currently the only risk that has been identified for the company. 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: 30 June 2026. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (1.6%). Price Target Changed • Feb 25
Price target increased by 19% to JP¥5,602 Up from JP¥4,706, the current price target is an average from 5 analysts. New target price is 6.4% below last closing price of JP¥5,985. Stock is up 170% over the past year. The company is forecast to post earnings per share of JP¥268 for next year compared to JP¥120 last year. Major Estimate Revision • Feb 25
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥171.6b to JP¥178.3b. EPS estimate increased from JP¥240 to JP¥268 per share. Net income forecast to grow 42% next year vs 10% growth forecast for Machinery industry in Japan. Consensus price target up from JP¥4,706 to JP¥5,002. Share price rose 14% to JP¥5,978 over the past week. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to JP¥5,299, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Machinery industry in Japan. Total returns to shareholders of 185% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,037 per share. Major Estimate Revision • Feb 17
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥164.6b to JP¥171.6b. EPS estimate increased from JP¥210 to JP¥240 per share. Net income forecast to grow 26% next year vs 9.8% growth forecast for Machinery industry in Japan. Consensus price target up from JP¥3,746 to JP¥4,706. Share price rose 27% to JP¥5,299 over the past week. New Risk • Feb 13
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 8.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥80.57 (vs JP¥35.59 in 3Q 2025) Third quarter 2026 results: EPS: JP¥80.57 (up from JP¥35.59 in 3Q 2025). Revenue: JP¥47.7b (up 56% from 3Q 2025). Net income: JP¥7.08b (up 120% from 3Q 2025). Profit margin: 15% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in Japan. 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 27% per year, which means it is well ahead of earnings. Price Target Changed • Feb 11
Price target increased by 13% to JP¥4,246 Up from JP¥3,746, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of JP¥4,163. Stock is up 89% over the past year. The company is forecast to post earnings per share of JP¥225 for next year compared to JP¥120 last year. Declared Dividend • Dec 09
First half dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Fuji Corporation to Report Q3, 2026 Results on Feb 10, 2026 Fuji Corporation announced that they will report Q3, 2026 results on Feb 10, 2026 New Risk • Nov 18
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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.6% average weekly change). Major Estimate Revision • Nov 17
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥154.1b to JP¥164.6b. EPS estimate increased from JP¥185 to JP¥210 per share. Net income forecast to grow 35% next year vs 9.4% growth forecast for Machinery industry in Japan. Consensus price target up from JP¥3,020 to JP¥3,512. Share price rose 10% to JP¥3,389 over the past week. Price Target Changed • Nov 14
Price target increased by 10% to JP¥3,332 Up from JP¥3,020, the current price target is an average from 5 analysts. New target price is 5.3% above last closing price of JP¥3,163. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥203 for next year compared to JP¥120 last year. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥37.58 (vs JP¥28.05 in 2Q 2025) Second quarter 2026 results: EPS: JP¥37.58 (up from JP¥28.05 in 2Q 2025). Revenue: JP¥38.0b (up 19% from 2Q 2025). Net income: JP¥3.31b (up 28% from 2Q 2025). Profit margin: 8.7% (up from 8.1% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. 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: 09 December 2025. Payout ratio is a comfortable 52% and the cash payout ratio is 79%. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Announcement • Sep 02
Fuji Corporation to Report Q2, 2026 Results on Nov 07, 2025 Fuji Corporation announced that they will report Q2, 2026 results at 3:30 PM, Tokyo Standard Time on Nov 07, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥64.44 (vs JP¥28.54 in 1Q 2025) First quarter 2026 results: EPS: JP¥64.44 (up from JP¥28.54 in 1Q 2025). Revenue: JP¥41.5b (up 34% from 1Q 2025). Net income: JP¥5.68b (up 115% from 1Q 2025). Profit margin: 14% (up from 8.5% in 1Q 2025). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 3.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 04
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 an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Outside Independent Director Makoto Iwasaki was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 03
Fuji Corporation to Report Q1, 2026 Results on Aug 05, 2025 Fuji Corporation announced that they will report Q1, 2026 results at 3:30 PM, Tokyo Standard Time on Aug 05, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥120 (up from JP¥111 in FY 2024). Revenue: JP¥127.4b (flat on FY 2024). Net income: JP¥10.9b (up 4.5% from FY 2024). Profit margin: 8.6% (up from 8.2% in FY 2024). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 13
Fuji Corporation, Annual General Meeting, Jun 27, 2025 Fuji Corporation, Annual General Meeting, Jun 27, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,767, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Machinery industry in Japan. Total loss to shareholders of 7.7% over the past three years. Announcement • Mar 21
Fuji Corporation Announces Executive Changes, Effective April 1, 2025 Fuji Corporation announced that its Board of Directors, at a meeting held on March 21, 2025, has resolved to make the following change to its senior management. Changes in senior management (effective on April 1, 2025). Newly appointed Executive Officer Katsuya Nishino. New: Executive Officer, Robotic Solutions Division Okazaki Factory Manager. Current: Senior Executive Manager, Robotic Solutions Division Okazaki Deputy Factory Manager. 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: 30 June 2025. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Announcement • Mar 01
Fuji Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Fuji Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: JP¥35.59 (vs JP¥31.67 in 3Q 2024) Third quarter 2025 results: EPS: JP¥35.59 (up from JP¥31.67 in 3Q 2024). Revenue: JP¥30.6b (down 7.6% from 3Q 2024). Net income: JP¥3.23b (up 9.0% from 3Q 2024). Profit margin: 11% (up from 8.9% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% 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. Declared Dividend • Dec 10
First half dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 88% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Fuji Corporation to Report Q3, 2025 Results on Feb 06, 2025 Fuji Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥28.05 (vs JP¥19.45 in 2Q 2024) Second quarter 2025 results: EPS: JP¥28.05 (up from JP¥19.45 in 2Q 2024). Revenue: JP¥31.9b (up 8.1% from 2Q 2024). Net income: JP¥2.58b (up 40% from 2Q 2024). Profit margin: 8.1% (up from 6.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Announcement • Aug 28
Fuji Corporation to Report Q2, 2025 Results on Nov 06, 2024 Fuji Corporation announced that they will report Q2, 2025 results on Nov 06, 2024 Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥28.54 (vs JP¥35.31 in 1Q 2024) First quarter 2025 results: EPS: JP¥28.54 (down from JP¥35.31 in 1Q 2024). Revenue: JP¥31.1b (down 6.1% from 1Q 2024). Net income: JP¥2.64b (down 22% from 1Q 2024). Profit margin: 8.5% (down from 10% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 19% 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. Announcement • Aug 02
Fuji Corporation (TSE:6134) announces an Equity Buyback for 6,000,000 shares, representing 6.49% for ¥10,000 million. Fuji Corporation (TSE:6134) announces a share repurchase program. Under the program, the company will repurchase up to 6,000,000 shares, representing 6.49% of its issued share capital (excluding treasury stock), for ¥10,000 million. The purpose of the program is improving shareholder returns and capital efficiency. The program will run until August 4, 2025. As of June 30, 2024, the company had 92,390,694 shares in issue (excluding treasury stock) and 5,433,054 shares in treasury. Declared Dividend • Jul 11
Final dividend of JP¥40.00 announced Dividend of JP¥40.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 82% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
Fuji Corporation to Report Q1, 2025 Results on Aug 02, 2024 Fuji Corporation announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥111 (down from JP¥212 in FY 2023). Revenue: JP¥127.1b (down 17% from FY 2023). Net income: JP¥10.4b (down 49% from FY 2023). Profit margin: 8.2% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 12
Fuji Corporation, Annual General Meeting, Jun 27, 2024 Fuji Corporation, Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Announcement • Mar 02
Fuji Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Fuji Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Announcement • Feb 09
Fuji Corporation Provides Consolidated Earnings Guidance for the Year Ending March 31, 2024 Fuji Corporation provided consolidated earnings guidance for the year ending March 31, 2024. For the year, the company expects net sales of JPY 125,000 million, operating profit to be JPY 13,000 million, profit attributable to owners of parent JPY 10,200 million and profit per share to be JPY 107.51 against previous guidance of net sales of JPY 123,000 million, operating profit to be JPY 11,400 million, profit attributable to owners of parent JPY 8,500 million and profit per share to be JPY 88.95. Reported Earnings • Feb 09
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: JP¥31.67 (down from JP¥44.40 in 3Q 2023). Revenue: JP¥33.1b (down 10.0% from 3Q 2023). Net income: JP¥2.96b (down 31% from 3Q 2023). Profit margin: 8.9% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) also surpassed analyst estimates by 134%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Announcement • Nov 29
Fuji Corporation to Report Q3, 2024 Results on Feb 07, 2024 Fuji Corporation announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥19.45 (vs JP¥54.38 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.45 (down from JP¥54.38 in 2Q 2023). Revenue: JP¥29.5b (down 25% from 2Q 2023). Net income: JP¥1.85b (down 65% from 2Q 2023). Profit margin: 6.3% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. 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 1% per year. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥140 to JP¥113 per share. Revenue forecast steady at JP¥130.5b. Net income forecast to shrink 33% next year vs 5.1% growth forecast for Machinery industry in Japan . Consensus price target broadly unchanged at JP¥2,600. Share price was steady at JP¥2,258 over the past week. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Announcement • Aug 30
Fuji Corporation to Report Q2, 2024 Results on Nov 02, 2023 Fuji Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥35.31 (vs JP¥61.54 in 1Q 2023) First quarter 2024 results: EPS: JP¥35.31 (down from JP¥61.54 in 1Q 2023). Revenue: JP¥33.1b (down 16% from 1Q 2023). Net income: JP¥3.40b (down 43% from 1Q 2023). Profit margin: 10% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥141.0b to JP¥134.6b. EPS estimate also fell from JP¥162 per share to JP¥144 per share. Net income forecast to shrink 54% next year vs 3.8% growth forecast for Machinery industry in Japan . Consensus price target broadly unchanged at JP¥2,800. Share price fell 11% to JP¥2,322 over the past week. Buying Opportunity • Aug 03
Now 21% undervalued Over the last 90 days, the stock is up 5.4%. The fair value is estimated to be JP¥3,089, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is also forecast to grow by 4.3% per annum over the same time period. Price Target Changed • Jun 20
Price target increased by 7.5% to JP¥2,850 Up from JP¥2,650, the current price target is an average from 6 analysts. New target price is 9.0% above last closing price of JP¥2,614. Stock is up 29% over the past year. The company is forecast to post earnings per share of JP¥170 for next year compared to JP¥212 last year. 