Buy Or Sell Opportunity • May 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to JP¥3,408. The fair value is estimated to be JP¥2,807, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 3.0%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 1.1% per annum over the same time period. Upcoming Dividend • May 21
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 28 May 2026. Payment date: 29 July 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.7%). Buy Or Sell Opportunity • May 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to JP¥3,363. The fair value is estimated to be JP¥2,783, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 3.0%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 1.1% per annum over the same time period. Price Target Changed • Apr 22
Price target increased by 19% to JP¥3,160 Up from JP¥2,653, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥3,049. Stock is up 86% over the past year. The company is forecast to post earnings per share of JP¥209 for next year compared to JP¥172 last year. Reported Earnings • Apr 11
First quarter 2026 earnings released: EPS: JP¥61.35 (vs JP¥30.72 in 1Q 2025) First quarter 2026 results: EPS: JP¥61.35 (up from JP¥30.72 in 1Q 2025). Revenue: JP¥42.6b (up 13% from 1Q 2025). Net income: JP¥5.04b (up 93% from 1Q 2025). Profit margin: 12% (up from 6.9% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 07
Price target increased by 10% to JP¥2,653 Up from JP¥2,403, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,634. Stock is up 73% over the past year. The company is forecast to post earnings per share of JP¥195 for next year compared to JP¥172 last year. Announcement • Apr 03
OSG Corporation to Report Q1, 2026 Results on Apr 10, 2026 OSG Corporation announced that they will report Q1, 2026 results on Apr 10, 2026 Declared Dividend • Mar 21
Final dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 28th May 2026 Payment date: 29th July 2026 Dividend yield will be 3.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 09
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥172 (up from JP¥149 in FY 2024). Revenue: JP¥160.6b (up 3.3% from FY 2024). Net income: JP¥14.3b (up 6.7% from FY 2024). Profit margin: 8.9% (up from 8.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 7.8%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery industry in Japan. 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 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Nov 20
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 27 November 2025. Payment date: 25 February 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.0%). Announcement • Oct 30
OSG Corporation to Report Fiscal Year 2025 Results on Jan 08, 2026 OSG Corporation announced that they will report fiscal year 2025 results on Jan 08, 2026 Reported Earnings • Oct 10
Third quarter 2025 earnings released: EPS: JP¥38.37 (vs JP¥29.00 in 3Q 2024) Third quarter 2025 results: EPS: JP¥38.37 (up from JP¥29.00 in 3Q 2024). Revenue: JP¥38.6b (up 2.5% from 3Q 2024). Net income: JP¥3.16b (up 23% from 3Q 2024). Profit margin: 8.2% (up from 6.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% 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 3% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Sep 30
Price target increased by 7.1% to JP¥1,880 Up from JP¥1,755, the current price target is an average from 4 analysts. New target price is 11% below last closing price of JP¥2,120. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of JP¥159 for next year compared to JP¥149 last year. Declared Dividend • Jul 30
First half dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 27th November 2025 Payment date: 25th February 2026 Dividend yield will be 4.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 12
Second quarter 2025 earnings released: EPS: JP¥46.34 (vs JP¥41.15 in 2Q 2024) Second quarter 2025 results: EPS: JP¥46.34 (up from JP¥41.15 in 2Q 2024). Revenue: JP¥39.6b (down 3.3% from 2Q 2024). Net income: JP¥3.87b (up 2.3% from 2Q 2024). Profit margin: 9.8% (in line with 2Q 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. 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 6% per year, which means it is well ahead of earnings. Price Target Changed • Jun 30
Price target decreased by 12% to JP¥1,755 Down from JP¥2,000, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥1,701. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥153 for next year compared to JP¥149 last year. Upcoming Dividend • May 22
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 29 May 2025. Payment date: 30 July 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 11
First quarter 2025 earnings released: EPS: JP¥30.72 (vs JP¥36.30 in 1Q 2024) First quarter 2025 results: EPS: JP¥30.72 (down from JP¥36.30 in 1Q 2024). Revenue: JP¥37.8b (up 2.9% from 1Q 2024). Net income: JP¥2.61b (down 24% from 1Q 2024). Profit margin: 6.9% (down from 9.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% 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 remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Apr 11
OSG Corporation (TSE:6136) announces an Equity Buyback for 3,500,000 shares, representing 4.12% for ¥5,000 million. OSG Corporation (TSE:6136) announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares, representing 4.12% of its issued share capital (excluding treasury stock), for ¥5,000 million. The purpose of the program is to enhance the shareholder return and improve capital efficiency. The repurchased shares will be cancelled. The program will run until August 29, 2025. As of February 28, 2025, the company had 84,959,566 shares in issue (excluding treasury stock) and 14,222,951 shares in treasury. Announcement • Mar 24
OSG Corporation(TSE:6136) dropped from FTSE All-World Index (USD) OSG Corporation(TSE:6136) dropped from FTSE All-World Index (USD) Declared Dividend • Mar 08
Final dividend of JP¥28.00 announced Dividend of JP¥28.00 is the same as last year. Ex-date: 29th May 2025 Payment date: 30th July 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Outside Director Yoshitsugu Hayashi was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 11
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥149 (down from JP¥149 in FY 2023). Revenue: JP¥155.5b (up 5.3% from FY 2023). Net income: JP¥13.4b (down 6.1% from FY 2023). Profit margin: 8.6% (down from 9.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 3.1% 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 increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 21
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 28 November 2024. Payment date: 19 February 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.2%). Announcement • Nov 01
OSG Corporation to Report Fiscal Year 2024 Results on Jan 09, 2025 OSG Corporation announced that they will report fiscal year 2024 results on Jan 09, 2025 Reported Earnings • Oct 11
Third quarter 2024 earnings released: EPS: JP¥29.00 (vs JP¥36.01 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.00 (down from JP¥36.01 in 3Q 2023). Revenue: JP¥37.7b (up 1.5% from 3Q 2023). Net income: JP¥2.57b (down 26% from 3Q 2023). Profit margin: 6.8% (down from 9.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% 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 increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 13
First half dividend of JP¥32.00 announced Dividend of JP¥32.00 is the same as last year. Ex-date: 28th November 2024 Payment date: 19th February 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 12
Second quarter 2024 earnings released: EPS: JP¥41.15 (vs JP¥36.96 in 2Q 2023) Second quarter 2024 results: EPS: JP¥41.15 (up from JP¥36.96 in 2Q 2023). Revenue: JP¥41.0b (up 13% from 2Q 2023). Net income: JP¥3.79b (up 7.0% from 2Q 2023). Profit margin: 9.3% (in line with 2Q 2023). Revenue is forecast to grow 2.9% 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 increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 11
OSG Corporation Provides Consolidated Earnings Guidance for the Full Year Ending November 30, 2024 OSG Corporation provided consolidated earnings guidance for the full year ending November 30, 2024. For the year, the company expects net sales of JPY 153,000 million, operating income of JPY 23,000 million, net income attributable to the company of JPY 15,500 million and net income per share of JPY 171.25. Upcoming Dividend • May 23
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 30 May 2024. Payment date: 25 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.1%). Announcement • Apr 29
OSG Corporation to Report Q3, 2024 Results on Oct 10, 2024 OSG Corporation announced that they will report Q3, 2024 results on Oct 10, 2024 Announcement • Apr 28
OSG Corporation to Report Q2, 2024 Results on Jul 11, 2024 OSG Corporation announced that they will report Q2, 2024 results on Jul 11, 2024 Reported Earnings • Apr 06
First quarter 2024 earnings released: EPS: JP¥36.30 (vs JP¥31.86 in 1Q 2023) First quarter 2024 results: EPS: JP¥36.30 (up from JP¥31.86 in 1Q 2023). Revenue: JP¥36.7b (up 7.3% from 1Q 2023). Net income: JP¥3.43b (up 12% from 1Q 2023). Profit margin: 9.3% (up from 8.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% 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 increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 04
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 30th May 2024 Payment date: 25th July 2024 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 28
OSG Corporation to Report Q1, 2024 Results on Apr 04, 2024 OSG Corporation announced that they will report Q1, 2024 results on Apr 04, 2024 Reported Earnings • Jan 13
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥149 (down from JP¥172 in FY 2022). Revenue: JP¥147.7b (up 3.6% from FY 2022). Net income: JP¥14.3b (down 14% from FY 2022). Profit margin: 9.7% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.0%. Revenue is forecast to grow 3.3% 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 32% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jan 12
Osg Corporation Provides Dividend Guidance for End of Second Quarter and Full Year Ending 2024 OSG Corporation provided dividend guidance for end of second quarter and full year ending 2024. For the quarter the company expects to pay the dividend of JPY 28.00 per share.For the full year the company expects to pay the dividend of JPY 32.00 per share. Announcement • Dec 05
OSG Corporation (TSE:6136) announces an Equity Buyback for 15,000,000 shares, representing 15.63% for ¥22,000 million. OSG Corporation (TSE:6136) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 15.63% of its issued share capital (excluding treasury stock), for ¥22,000 million. The purpose of the program is improving capital efficiency, corporate structure and corporate value in order to achieve future growth. The program will run until November 29, 2024. As of November 30, 2023, the company had 95,980,693 shares in issue (excluding treasury stock) and 3,201,824 shares in treasury. Upcoming Dividend • Nov 22
Upcoming dividend of JP¥32.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 20 February 2024. Payout ratio is a comfortable 3.1% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.2%). Announcement • Nov 21
OSG Corporation, Annual General Meeting, Feb 16, 2024 OSG Corporation, Annual General Meeting, Feb 16, 2024. Agenda: to consider the changes in directors and executive officers; and to consider other matters. Announcement • Nov 20
OSG Corporation Announces Retirement of Yoshiyuki Sakaki as Director (Audit & Supervisory Committee, Outsider) OSG Corporation announced retirement of Yoshiyuki Sakaki as director (Audit & Supervisory Committee, Outsider). Announcement • Nov 01
OSG Corporation to Report Fiscal Year 2023 Results on Jan 11, 2024 OSG Corporation announced that they will report fiscal year 2023 results on Jan 11, 2024 Reported Earnings • Oct 06
Third quarter 2023 earnings released: EPS: JP¥36.01 (vs JP¥40.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥36.01 (down from JP¥40.23 in 3Q 2022). Revenue: JP¥37.1b (up 4.4% from 3Q 2022). Net income: JP¥3.45b (down 11% from 3Q 2022). Profit margin: 9.3% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% 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 37% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 13
OSG Corporation to Report Q3, 2023 Results on Oct 05, 2023 OSG Corporation announced that they will report Q3, 2023 results on Oct 05, 2023 Reported Earnings • Jul 07
Second quarter 2023 earnings released: EPS: JP¥36.96 (vs JP¥41.75 in 2Q 2022) Second quarter 2023 results: EPS: JP¥36.96 (down from JP¥41.75 in 2Q 2022). Revenue: JP¥36.4b (up 1.9% from 2Q 2022). Net income: JP¥3.54b (down 12% from 2Q 2022). Profit margin: 9.7% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Osg Corporation Provides Dividend Guidance for the Full Fiscal Year 2023 OSG Corporation provided dividend guidance for the full fiscal year 2023. For the period, the company expects to pay dividend of JPY 32.00 per share against JPY 37.00 a year ago. Announcement • Jul 06
Osg Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending November 30, 2023 OSG Corporation provided consolidated earnings guidance for the fiscal year ending November 30, 2023. For the full year, the company expects net sales of JPY 145,000 million, operating income of JPY 24,000 million, net income attributable to the company of JPY 16,200 million and net income per share of JPY 169.16. Buying Opportunity • Jul 04
Now 20% undervalued Over the last 90 days, the stock is up 7.8%. The fair value is estimated to be JP¥2,612, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings is also forecast to grow by 5.5% per annum over the same time period. Upcoming Dividend • May 23
Upcoming dividend of JP¥28.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.2%). Reported Earnings • Apr 08
First quarter 2023 earnings released: EPS: JP¥31.86 (vs JP¥35.53 in 1Q 2022) First quarter 2023 results: EPS: JP¥31.86 (down from JP¥35.53 in 1Q 2022). Revenue: JP¥34.2b (up 6.2% from 1Q 2022). Net income: JP¥3.05b (down 12% from 1Q 2022). Profit margin: 8.9% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 01
Price target increased by 9.5% to JP¥2,303 Up from JP¥2,103, the current price target is an average from 4 analysts. New target price is 15% above last closing price of JP¥2,007. Stock is up 7.4% over the past year. The company is forecast to post earnings per share of JP¥172 for next year compared to JP¥172 last year. Announcement • Feb 19
OSG Corporation to Report Q1, 2023 Results on Apr 06, 2023 OSG Corporation announced that they will report Q1, 2023 results on Apr 06, 2023 Announcement • Jan 14
OSG Corporation, Annual General Meeting, Feb 17, 2023 OSG Corporation, Annual General Meeting, Feb 17, 2023. Reported Earnings • Jan 13
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥172 (up from JP¥113 in FY 2021). Revenue: JP¥142.5b (up 13% from FY 2021). Net income: JP¥16.5b (up 51% from FY 2021). Profit margin: 12% (up from 8.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery 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 fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jan 13
OSG Corporation Provides Non-Consolidated Earnings Guidance for the Semi-Annual and Annual for the Year Ending November 30, 2023 OSG Corporation Provides non-Consolidated Earnings Guidance for the semi-annual and annual for the year ending November 30, 2023. For the Semi-Annual ending, The company expects net sales to be JPY 28,000 million, Operating income to be JPY 3,200 million, net income to be JPY 4,100 million or JPY 42.84 per basic share.For the year ending, The company expects net sales to be JPY 58,000 million, Operating income to be JPY 6,900 million, net income to be JPY 9,500 million or JPY 99.27 per basic share. Upcoming Dividend • Nov 22
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 29 November 2022. Payment date: 21 February 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.4%). Announcement • Nov 02
OSG Corporation to Report Fiscal Year 2022 Results on Jan 12, 2023 OSG Corporation announced that they will report fiscal year 2022 results on Jan 12, 2023 Reported Earnings • Oct 07
Third quarter 2022 earnings released: EPS: JP¥40.23 (vs JP¥31.35 in 3Q 2021) Third quarter 2022 results: EPS: JP¥40.23 (up from JP¥31.35 in 3Q 2021). Revenue: JP¥35.5b (up 14% from 3Q 2021). Net income: JP¥3.86b (up 26% from 3Q 2021). Profit margin: 11% (up from 9.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 09
Second quarter 2022 earnings released: EPS: JP¥41.75 (vs JP¥33.41 in 2Q 2021) Second quarter 2022 results: EPS: JP¥41.75 (up from JP¥33.41 in 2Q 2021). Revenue: JP¥35.7b (up 8.3% from 2Q 2021). Net income: JP¥4.03b (up 24% from 2Q 2021). Profit margin: 11% (up from 9.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.8%, compared to a 9.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year. Upcoming Dividend • May 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 27 July 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 08
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: JP¥35.53 (up from JP¥15.30 in 1Q 2021). Revenue: JP¥32.2b (up 14% from 1Q 2021). Net income: JP¥3.46b (up 132% from 1Q 2021). Profit margin: 11% (up from 5.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 5.9%, compared to a 7.9% growth forecast for the 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 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 13
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: JP¥113 (up from JP¥57.93 in FY 2020). Revenue: JP¥126.2b (up 21% from FY 2020). Net income: JP¥11.0b (up 95% from FY 2020). Profit margin: 8.7% (up from 5.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 5.8%, compared to a 9.5% growth forecast for the 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 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Nov 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 22 February 2022. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (1.7%). Reported Earnings • Oct 09
Third quarter 2021 earnings released: EPS JP¥31.35 (vs JP¥2.20 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥31.3b (up 41% from 3Q 2020). Net income: JP¥3.06b (up JP¥2.85b from 3Q 2020). Profit margin: 9.8% (up from 1.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% 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.