Announcement • May 10
Nitto Kohki Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Nitto Kohki Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Board Change • Apr 04
Less than half of directors are independent Following Managing Executive Officer, Chief Production Officer & Representative Director Tetsuya Kuwabara's arrival on 01 April 2026, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Masaji Santo was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥110 (vs JP¥27.31 in 3Q 2025) Third quarter 2026 results: EPS: JP¥110 (up from JP¥27.31 in 3Q 2025). Revenue: JP¥6.92b (up 1.6% from 3Q 2025). Net income: JP¥2.07b (up 304% from 3Q 2025). Profit margin: 30% (up from 7.5% in 3Q 2025). 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 2% per year, which means it is well ahead of earnings. Announcement • Feb 14
Nitto Kohki Co., Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Nitto Kohki Co., Ltd. revised consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, on consolidated basis, the company now expects net sales of JPY 27,300 million, operating profit of JPY 1,500 million, Profit attributable to owners of parent of JPY 2,500 million and Basic earnings per share of JPY 133.58 per share as compared to previously announced Profit attributable to owners of parent of JPY 650 million and Basic earnings per share of JPY 34.73 per share. Reason for revision: Regarding net sales, there is no change from the previous forecast announced on November 12, 2025
Meanwhile, regarding profit, we received the "Subsidy for Corporate Location to Create Employment Areas Affected by Tsunami and Nuclear Disaster" from the Ministry of Economy, Trade and Industry January 21, 2026. As this subsidy is to be recorded as extraordinary income in the third quarter of t fiscal year ending March 31, 2026, profit attributable to owners of parent is expected to exceed t previously announced forecast. Declared Dividend • Dec 03
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 54% to bring the payout ratio under control. However, EPS has declined by 20% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥20.63 (vs JP¥22.50 in 2Q 2025) Second quarter 2026 results: EPS: JP¥20.63 (down from JP¥22.50 in 2Q 2025). Revenue: JP¥6.58b (down 3.2% from 2Q 2025). Net income: JP¥386.0m (down 8.3% from 2Q 2025). Profit margin: 5.9% (down from 6.2% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 07
First quarter 2026 earnings released: JP¥15.02 loss per share (vs JP¥27.59 profit in 1Q 2025) First quarter 2026 results: JP¥15.02 loss per share (down from JP¥27.59 profit in 1Q 2025). Revenue: JP¥6.59b (down 1.6% from 1Q 2025). Net loss: JP¥281.0m (down 154% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 29th September 2025 Payment date: 23rd December 2025 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 60% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Reported Earnings • Jun 30
Full year 2025 earnings released: EPS: JP¥71.85 (vs JP¥93.49 in FY 2024) Full year 2025 results: EPS: JP¥71.85 (down from JP¥93.49 in FY 2024). Revenue: JP¥27.3b (flat on FY 2024). Net income: JP¥1.35b (down 27% from FY 2024). Profit margin: 4.9% (down from 6.8% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥71.85 (vs JP¥93.49 in FY 2024) Full year 2025 results: EPS: JP¥71.85 (down from JP¥93.49 in FY 2024). Revenue: JP¥27.3b (flat on FY 2024). Net income: JP¥1.35b (down 27% from FY 2024). Profit margin: 4.9% (down from 6.8% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 15
Nitto Kohki Co., Ltd., Annual General Meeting, Jun 25, 2025 Nitto Kohki Co., Ltd., Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,719, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 22% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 25 June 2025. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Announcement • Feb 28
Nitto Kohki Co., Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 Nitto Kohki Co., Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 New Risk • Feb 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: 2.2% 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 Earnings have declined by 3.1% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥27.31 (vs JP¥19.79 in 3Q 2024) Third quarter 2025 results: EPS: JP¥27.31 (up from JP¥19.79 in 3Q 2024). Revenue: JP¥6.81b (up 2.2% from 3Q 2024). Net income: JP¥511.0m (up 31% from 3Q 2024). Profit margin: 7.5% (up from 5.9% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Dec 24
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 28th March 2025 Payment date: 25th June 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 50% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. New Risk • Nov 21
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: 6.6% Last year net profit margin: 9.4% 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: Major Risks Earnings have declined by 3.0% per year over the past 5 years. High level of non-cash earnings (29% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (6.6% net profit margin). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 04
First quarter 2025 earnings released: EPS: JP¥32.18 (vs JP¥33.14 in 1Q 2024) First quarter 2025 results: EPS: JP¥32.18 (down from JP¥33.14 in 1Q 2024). Revenue: JP¥6.69b (down 5.3% from 1Q 2024). Net income: JP¥603.0m (down 8.5% from 1Q 2024). Profit margin: 9.0% (down from 9.3% in 1Q 2024). The decrease in margin was driven by lower revenue. 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 4% per year. Declared Dividend • Jul 11
Final dividend of JP¥21.00 announced Shareholders will receive a dividend of JP¥21.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (50% 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 3.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 45% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.6% EPS decline seen over the last 5 years. Announcement • May 24
Nitto Kohki Co., Ltd. Provides Consolidated and Non-Consolidated Earnings Guidance for the Six Months Ending September 30, 2024 and Fiscal Year Ending March 31, 2025 Nitto Kohki Co., Ltd. provided consolidated and non-consolidated earnings guidance for the six months ending September 30, 2024 and fiscal year ending March 31, 2025. For the six months, on consolidated basis, the company expects net sales of JPY 13,777 million, operating profit of JPY 1,383 million, profit attributable to owners of parent of JPY 979 million and earnings per share of JPY 51.75. For the full year, on consolidated basis, the company expects net sales of JPY 28,240 million, operating profit of JPY 3,060 million, profit attributable to owners of parent of JPY 2,220 million and earnings per share of JPY 117.37. For the six months, on non-consolidated basis, the company expects net sales of JPY 12,875 million, profit of JPY 1,112 million and earnings per share of JPY 58.79. For the full year, on non-consolidated basis, the company expects net sales of JPY 25,965 million, profit of JPY 2,122 million and earnings per share of JPY 112.18. Reported Earnings • May 11
Full year 2024 earnings released: EPS: JP¥104 (vs JP¥129 in FY 2023) Full year 2024 results: EPS: JP¥104 (down from JP¥129 in FY 2023). Revenue: JP¥27.1b (down 3.6% from FY 2023). Net income: JP¥2.05b (down 22% from FY 2023). Profit margin: 7.6% (down from 9.3% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Announcement • May 11
Nitto Kohki Co., Ltd., Annual General Meeting, Jun 24, 2024 Nitto Kohki Co., Ltd., Annual General Meeting, Jun 24, 2024. Announcement • May 10
Nitto Kohki Co., Ltd. Revises Dividend Guidance for the Year Ended March 31, 2024 Nitto Kohki Co., Ltd. revised dividend guidance for the year ended March 31, 2024. For the period, the company now expects a dividend of ¥15.00 per share against the previous guidance of ¥12.00 per share. Effective date: June 25, 2024. Based on this basic policy, as for the dividend for the fiscal year ended March 2024, the company hasdecided to pay year-end dividends of ¥15, an increase of ¥3 from the previously announced dividend forecast. As a result, the Company has already paid ¥28 per share as an interim dividend, so the annual dividend per share will be ¥43. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥34.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 50% and the cash payout ratio is 84%. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Announcement • Mar 02
Nitto Kohki Co., Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 Nitto Kohki Co., Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥22.57 (vs JP¥39.38 in 3Q 2023) Third quarter 2024 results: EPS: JP¥22.57 (down from JP¥39.38 in 3Q 2023). Revenue: JP¥6.67b (down 9.5% from 3Q 2023). Net income: JP¥446.0m (down 44% from 3Q 2023). Profit margin: 6.7% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. 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 1% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Nitto Kohki Co., Ltd. (TSE:6151) announces an Equity Buyback for 1,300,000 shares, representing 6.58% for ¥2,100 million. Nitto Kohki Co., Ltd. (TSE:6151) announces a share repurchase program. Under the program, the company will repurchase 1,300,000 shares, representing 6.58% of its share capital, for ¥2,100 million. The company will repurchase its shares in order to achieve both growth investment and shareholder returns, and to be able to further return profits to shareholders. The program will run until October 31, 2024. As of December 31, 2023, the company had 19,763,299 shares outstanding (excluding treasury shares) and 2,039,996 shares in treasury. Announcement • Nov 07
Nitto Kohki Co., Ltd. Announces Dividend for Second Quarter of Fiscal Year Ending March 31, 2024, Payable on December 4, 2023; Provides Dividend Guidance for Fiscal Year Ending March 31, 2024 Nitto Kohki Co., Ltd. announced dividend for second quarter of fiscal year ending March 31, 2024 of JPY 28 per share compared to JPY 24 per share paid a year ago. Schedule date to commence dividend payment is December 4, 2023.For the fiscal year ending March 31, 2024, the company expects to pay dividend of JPY 34 per share compared to JPY 29 per share paid a year ago. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥32.99 (vs JP¥31.35 in 2Q 2023) Second quarter 2024 results: EPS: JP¥32.99 (up from JP¥31.35 in 2Q 2023). Revenue: JP¥6.87b (down 5.9% from 2Q 2023). Net income: JP¥652.0m (up 2.5% from 2Q 2023). Profit margin: 9.5% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 16% 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 • Sep 21
Upcoming dividend of JP¥28.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥33.14 (vs JP¥32.38 in 1Q 2023) First quarter 2024 results: EPS: JP¥33.14 (up from JP¥32.38 in 1Q 2023). Revenue: JP¥7.07b (up 5.7% from 1Q 2023). Net income: JP¥659.0m (flat on 1Q 2023). Profit margin: 9.3% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Jun 24
Full year 2023 earnings released: EPS: JP¥129 (vs JP¥94.98 in FY 2022) Full year 2023 results: EPS: JP¥129 (up from JP¥94.98 in FY 2022). Revenue: JP¥28.1b (up 11% from FY 2022). Net income: JP¥2.63b (up 36% from FY 2022). Profit margin: 9.3% (up from 7.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • May 12
Nitto Kohki Co., Ltd., Annual General Meeting, Jun 20, 2023 Nitto Kohki Co., Ltd., Annual General Meeting, Jun 20, 2023. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥129 (vs JP¥94.98 in FY 2022) Full year 2023 results: EPS: JP¥129 (up from JP¥94.98 in FY 2022). Revenue: JP¥28.1b (up 11% from FY 2022). Net income: JP¥2.63b (up 36% from FY 2022). Profit margin: 9.3% (up from 7.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥26.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Announcement • Feb 02
Nitto Kohki Co., Ltd. (TSE:6151) announces an Equity Buyback for 800,000 shares, representing 3.94% for ¥1,000 million. Nitto Kohki Co., Ltd. (TSE:6151) announces a share repurchase program. Under the program, the company will repurchase 800,000 shares, representing 3.94% of its share capital, for ¥1,000 million. The company will repurchase its shares in order to improve capital efficiency and implement a flexible capital policy. The program will run until February 1, 2024. As of December 31, 2022, the company had 20,288,899 shares outstanding (excluding treasury shares) and 1,514,396 shares in treasury. Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥39.38 (vs JP¥31.50 in 3Q 2022) Third quarter 2023 results: EPS: JP¥39.38 (up from JP¥31.50 in 3Q 2022). Revenue: JP¥7.36b (up 13% from 3Q 2022). Net income: JP¥799.0m (up 25% from 3Q 2022). Profit margin: 11% (up from 9.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
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. 3 non-independent directors. Independent Outside Director Mitsuru Komiyama 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. Reported Earnings • Nov 03
Second quarter 2023 earnings released: EPS: JP¥31.35 (vs JP¥32.73 in 2Q 2022) Second quarter 2023 results: EPS: JP¥31.35 (down from JP¥32.73 in 2Q 2022). Revenue: JP¥7.30b (up 14% from 2Q 2022). Net income: JP¥636.0m (down 4.2% from 2Q 2022). Profit margin: 8.7% (down from 10% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 03
First quarter 2023 earnings released: EPS: JP¥32.38 (vs JP¥26.96 in 1Q 2022) First quarter 2023 results: EPS: JP¥32.38 (up from JP¥26.96 in 1Q 2022). Revenue: JP¥6.69b (up 13% from 1Q 2022). Net income: JP¥657.0m (up 20% from 1Q 2022). Profit margin: 9.8% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 17% 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. Announcement • May 12
Nitto Kohki Co., Ltd., Annual General Meeting, Jun 23, 2022 Nitto Kohki Co., Ltd., Annual General Meeting, Jun 23, 2022. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥94.98 (vs JP¥76.05 in FY 2021) Full year 2022 results: EPS: JP¥94.98 (up from JP¥76.05 in FY 2021). Revenue: JP¥25.3b (up 12% from FY 2021). Net income: JP¥1.93b (up 24% from FY 2021). Profit margin: 7.6% (up from 6.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. 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. 3 non-independent directors. Independent Outside Director Mitsuru Komiyama 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 08
Nitto Kohki Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Nitto Kohki Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Buying Opportunity • Mar 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be JP¥1,948, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 25%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.0%). Buying Opportunity • Mar 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be JP¥1,959, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% per annum over the last 3 years. Earnings per share has declined by 25% per annum over the last 3 years. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥31.49 (up from JP¥23.07 in 3Q 2021). Revenue: JP¥6.53b (up 12% from 3Q 2021). Net income: JP¥639.0m (up 37% from 3Q 2021). Profit margin: 9.8% (up from 8.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 25% 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 • Nov 02
Second quarter 2022 earnings released: EPS JP¥32.73 (vs JP¥15.87 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥6.41b (up 19% from 2Q 2021). Net income: JP¥664.0m (up 106% from 2Q 2021). Profit margin: 10% (up from 6.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% 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. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 03 December 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (1.4%). Announcement • Aug 06
Nitto Kohki Co., Ltd. Provides Earnings Guidance for the Six Months Ending September 30, 2021 and for the Full Year Ending March 31, 2022 Nitto Kohki Co., Ltd. provided earnings guidance for the Six months ending September 30, 2021 and for the full year ending March 31, 2022. For the year, the company expects net sales of JPY 11,760 million, operating profit of JPY 1,040 million, ordinary profit of JPY 1,110 million, profit attributable to owners of parent of JPY 750 million and earnings per share JPY 36.96.
For the year, the company expects net sales of JPY 23,980 million, operating profit of JPY 2,180 million, ordinary profit of JPY 2,320 million, profit attributable to owners of parent of JPY 1,580 million and earnings per share JPY 77.87. Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥26.96 (vs JP¥14.46 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥5.94b (up 16% from 1Q 2021). Net income: JP¥547.0m (up 84% from 1Q 2021). Profit margin: 9.2% (up from 5.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥76.05 (vs JP¥131 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥22.5b (down 17% from FY 2020). Net income: JP¥1.55b (down 44% from FY 2020). Profit margin: 6.9% (down from 10% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. 
