Reported Earnings • Jun 27
First quarter 2027 earnings released: JP¥6.97 loss per share (vs JP¥1.59 loss in 1Q 2026) First quarter 2027 results: JP¥6.97 loss per share (further deteriorated from JP¥1.59 loss in 1Q 2026). Revenue: JP¥4.17b (down 19% from 1Q 2026). Net loss: JP¥181.0m (loss widened 330% from 1Q 2026). Over the last 3 years on average, earnings per share has fallen by 36% 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. Declared Dividend • Jun 12
Final dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 19th August 2026 Payment date: 4th November 2026 Dividend yield will be 2.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (16% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 4.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 28
Zuiko Corporation to Report Q1, 2027 Results on Jun 25, 2026 Zuiko Corporation announced that they will report Q1, 2027 results on Jun 25, 2026 New Risk • Apr 10
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 26% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Apr 06
Full year 2026 earnings released: EPS: JP¥74.49 (vs JP¥29.78 loss in FY 2025) Full year 2026 results: EPS: JP¥74.49 (up from JP¥29.78 loss in FY 2025). Revenue: JP¥21.2b (up 6.1% from FY 2025). Net income: JP¥1.97b (up JP¥2.76b from FY 2025). Profit margin: 9.3% (up from net loss in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Apr 03
Zuiko Corporation, Annual General Meeting, May 16, 2026 Zuiko Corporation, Annual General Meeting, May 16, 2026. Announcement • Apr 02
Zuiko Corporation to Report Fiscal Year 2026 Results on Apr 03, 2026 Zuiko Corporation announced that they will report fiscal year 2026 results on Apr 03, 2026 Announcement • Feb 19
Zuiko Corporation (TSE:6279) announces an Equity Buyback for 500,000 shares, representing 1.89% for ¥550 million. Zuiko Corporation (TSE:6279) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 1.89% of its issued share capital (excluding treasury stock), for ¥550 million. The purpose of the program is enhancing shareholder returns and improving capital efficiency, as well as enabling the flexible execution of capital policies in response to changes in the future business environment. The program will run until March 3, 2026. As of November 20, 2025, the company had 26,479,814 shares in issue (excluding treasury stock) and 2,320,186 shares in treasury. Upcoming Dividend • Feb 12
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 19 February 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.5%). Reported Earnings • Dec 26
Third quarter 2026 earnings released: EPS: JP¥5.33 (vs JP¥1.08 loss in 3Q 2025) Third quarter 2026 results: EPS: JP¥5.33 (up from JP¥1.08 loss in 3Q 2025). Revenue: JP¥5.44b (down 1.5% from 3Q 2025). Net income: JP¥141.0m (up JP¥169.5m from 3Q 2025). Profit margin: 2.6% (up from net loss in 3Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • Nov 26
Zuiko Corporation to Report Q3, 2026 Results on Dec 25, 2025 Zuiko Corporation announced that they will report Q3, 2026 results on Dec 25, 2025 Declared Dividend • Nov 05
First half dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 19th February 2026 Payment date: 19th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (125% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 39% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Oct 04
Second quarter 2026 earnings released: EPS: JP¥13.52 (vs JP¥2.00 in 2Q 2025) Second quarter 2026 results: EPS: JP¥13.52 (up from JP¥2.00 in 2Q 2025). Revenue: JP¥5.33b (up 17% from 2Q 2025). Net income: JP¥358.1m (up JP¥305.1m from 2Q 2025). Profit margin: 6.7% (up from 1.2% in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Oct 04
Zuiko Corporation Declares Cash Dividend for the Six Months Ended August 20, 2025, Payable on November 4, 2025; Provides Dividend Guidance for the Fiscal Year Ending February 20, 2026 Zuiko Corporation declared a cash dividend of ¥6 per share for the six months ended August 20, 2025 against ¥5 per share a year ago. Scheduled date to commence dividend payments: November 4, 2025.
For the fiscal year-end, the company expects to pay a dividend of ¥6.00 per share compared to ¥5.00 per share paid last year. Announcement • Aug 01
Zuiko Corporation to Report Q2, 2026 Results on Oct 03, 2025 Zuiko Corporation announced that they will report Q2, 2026 results on Oct 03, 2025 Reported Earnings • Jun 26
First quarter 2026 earnings released: JP¥1.59 loss per share (vs JP¥28.66 loss in 1Q 2025) First quarter 2026 results: JP¥1.59 loss per share (improved from JP¥28.66 loss in 1Q 2025). Revenue: JP¥5.16b (up 34% from 1Q 2025). Net loss: JP¥42.1m (loss narrowed 94% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 21
Final dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 19th August 2025 Payment date: 4th November 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (103% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • May 22
Zuiko Corporation to Report Q1, 2026 Results on Jun 25, 2025 Zuiko Corporation announced that they will report Q1, 2026 results on Jun 25, 2025 Reported Earnings • Apr 05
Full year 2025 earnings released: JP¥29.78 loss per share (vs JP¥52.20 profit in FY 2024) Full year 2025 results: JP¥29.78 loss per share (down from JP¥52.20 profit in FY 2024). Revenue: JP¥20.0b (down 8.2% from FY 2024). Net loss: JP¥788.0m (down 157% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Mar 25
Zuiko Corporation Announces Board and Committee Changes Zuiko Corporation announced retirement of Norihiro Asada as Director. Reason for resignation: Retirement due to expiration of term. The company also announced resignation of Masakatsu Hioki as Outside Director, Audit & Supervisory Committee Member. Reason for resignation: Retirement due to expiration of term. Announcement • Feb 27
Zuiko Corporation to Report Fiscal Year 2025 Results on Apr 04, 2025 Zuiko Corporation announced that they will report fiscal year 2025 results on Apr 04, 2025 Upcoming Dividend • Feb 12
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 19 February 2025. Payment date: 20 May 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.2%). Reported Earnings • Dec 26
Third quarter 2025 earnings released: JP¥1.06 loss per share (vs JP¥29.67 profit in 3Q 2024) Third quarter 2025 results: JP¥1.06 loss per share (down from JP¥29.67 profit in 3Q 2024). Revenue: JP¥5.53b (down 20% from 3Q 2024). Net loss: JP¥28.0m (down 104% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Nov 27
Zuiko Corporation to Report Q3, 2025 Results on Dec 24, 2024 Zuiko Corporation announced that they will report Q3, 2025 results on Dec 24, 2024 Declared Dividend • Nov 02
First half dividend of JP¥5.00 announced Shareholders will receive a dividend of JP¥5.00. Ex-date: 19th February 2025 Payment date: 20th May 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 151%. Cash payout ratio: 9%. Declared Dividend • Oct 05
First half dividend of JP¥5.00 announced Shareholders will receive a dividend of JP¥5.00. Ex-date: 19th February 2025 Payment date: 20th May 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (121% 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 34% to bring the payout ratio under control. However, EPS has declined by 25% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Oct 04
Second quarter 2025 earnings released: EPS: JP¥2.00 (vs JP¥17.38 in 2Q 2024) Second quarter 2025 results: EPS: JP¥2.00 (down from JP¥17.38 in 2Q 2024). Revenue: JP¥4.55b (down 23% from 2Q 2024). Net income: JP¥53.0m (down 89% from 2Q 2024). Profit margin: 1.2% (down from 7.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Aug 27
Zuiko Corporation to Report Q2, 2025 Results on Oct 03, 2024 Zuiko Corporation announced that they will report Q2, 2025 results on Oct 03, 2024 Upcoming Dividend • Aug 12
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 19 August 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (2.9%). Reported Earnings • Jun 28
First quarter 2025 earnings released: JP¥28.66 loss per share (vs JP¥8.46 loss in 1Q 2024) First quarter 2025 results: JP¥28.66 loss per share (further deteriorated from JP¥8.46 loss in 1Q 2024). Revenue: JP¥3.85b (down 4.1% from 1Q 2024). Net loss: JP¥758.0m (loss widened 240% from 1Q 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 3% per year, which means it is well ahead of earnings. Declared Dividend • Jun 27
Final dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 19th August 2024 Payment date: 1st November 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (38% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.6% EPS decline seen over the last 5 years. Announcement • May 30
Zuiko Corporation to Report Q1, 2025 Results on Jun 26, 2024 Zuiko Corporation announced that they will report Q1, 2025 results on Jun 26, 2024 Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,057, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 2.4% over the past three years. Reported Earnings • Apr 07
Full year 2024 earnings released: EPS: JP¥52.20 (vs JP¥101 in FY 2023) Full year 2024 results: EPS: JP¥52.20 (down from JP¥101 in FY 2023). Revenue: JP¥21.7b (down 18% from FY 2023). Net income: JP¥1.38b (down 48% from FY 2023). Profit margin: 6.3% (down from 10% in FY 2023). 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 8% per year. Announcement • Apr 07
Zuiko Corporation, Annual General Meeting, May 17, 2024 Zuiko Corporation, Annual General Meeting, May 17, 2024. Announcement • Mar 21
Zuiko Corporation announced that it has received ¥29.6 million in funding from Morgan Stanley MUFG Securities Co., Ltd. On March 21, 2024, Zuiko Corporation closed the transaction. Announcement • Mar 06
Zuiko Corporation to Report Fiscal Year 2024 Results on Apr 05, 2024 Zuiko Corporation announced that they will report fiscal year 2024 results on Apr 05, 2024 Announcement • Feb 26
Zuiko Corporation announced that it expects to receive ¥29.6 million in funding from Morgan Stanley MUFG Securities Co., Ltd. Zuiko Corporation announced a private placement to issue 40,000 units of 6th stock acquisition rights at an issue price of ¥ 740 per right for the gross proceeds of ¥29,600,000 on February 26, 2024. The transaction will include participation from new investor Morgan Stanley MUFG Securities Co., Ltd. The transaction has been approved by the shareholders of the company and is expected to close on March 21, 2024. The company has raised Funds raised related to stock acquisition rights is ¥7,097,600,000, total value of rights is ¥29,600,000, Value of assets to be invested upon exercise of stock acquisition rights is ¥7,068,000,000, Approximate amount of issuance expenses of ¥6,500,000 and the net proceeds is ¥7,091,100,000. The period during which the Stock Acquisition Rights can be exercised shall be from March 22, 2024 to March 23, 2027 . Upcoming Dividend • Feb 12
Upcoming dividend of JP¥10.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 19 February 2024. Payment date: 20 May 2024. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.1%). Reported Earnings • Dec 28
Third quarter 2024 earnings released: EPS: JP¥29.67 (vs JP¥31.43 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.67 (down from JP¥31.43 in 3Q 2023). Revenue: JP¥6.94b (flat on 3Q 2023). Net income: JP¥784.0m (down 5.3% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 16% per year. Announcement • Nov 27
Zuiko Corporation to Report Q3, 2024 Results on Dec 27, 2023 Zuiko Corporation announced that they will report Q3, 2024 results on Dec 27, 2023 Reported Earnings • Oct 05
Second quarter 2024 earnings released: EPS: JP¥17.38 (vs JP¥26.68 in 2Q 2023) Second quarter 2024 results: EPS: JP¥17.38 (down from JP¥26.68 in 2Q 2023). Revenue: JP¥5.95b (up 13% from 2Q 2023). Net income: JP¥459.0m (down 35% from 2Q 2023). Profit margin: 7.7% (down from 13% in 2Q 2023). The decrease in margin was driven by higher 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 5% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Zuiko Corporation to Report Q2, 2024 Results on Oct 02, 2023 Zuiko Corporation announced that they will report Q2, 2024 results on Oct 02, 2023 New Risk • Aug 10
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 6.1% 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 Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Upcoming Dividend • Aug 10
Upcoming dividend of JP¥10.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 01 November 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.2%). Reported Earnings • Jun 27
First quarter 2024 earnings released: JP¥8.46 loss per share (vs JP¥2.59 loss in 1Q 2023) First quarter 2024 results: JP¥8.46 loss per share (further deteriorated from JP¥2.59 loss in 1Q 2023). Revenue: JP¥4.02b (up 13% from 1Q 2023). Net loss: JP¥223.0m (loss widened 228% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 27
Zuiko Corporation to Report Q1, 2024 Results on Jun 26, 2023 Zuiko Corporation announced that they will report Q1, 2024 results on Jun 26, 2023 Reported Earnings • Apr 08
Full year 2023 earnings released: EPS: JP¥101 (vs JP¥66.05 in FY 2022) Full year 2023 results: EPS: JP¥101 (up from JP¥66.05 in FY 2022). Revenue: JP¥26.5b (up 12% from FY 2022). Net income: JP¥2.67b (up 54% from FY 2022). Profit margin: 10% (up from 7.4% in FY 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 10
Upcoming dividend of JP¥8.10 per share at 2.0% yield Eligible shareholders must have bought the stock before 17 February 2023. Payment date: 18 May 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.4%). Reported Earnings • Dec 27
Second quarter 2023 earnings released: EPS: JP¥26.68 (vs JP¥27.28 in 2Q 2022) Second quarter 2023 results: EPS: JP¥26.68 (down from JP¥27.28 in 2Q 2022). Revenue: JP¥5.25b (down 33% from 2Q 2022). Net income: JP¥703.0m (down 2.0% from 2Q 2022). Profit margin: 13% (up from 9.2% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥740, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 10x in the Machinery industry in Japan. Total loss to shareholders of 21% over the past three years. Announcement • Nov 30
Zuiko Corporation to Report Q3, 2023 Results on Dec 26, 2022 Zuiko Corporation announced that they will report Q3, 2023 results on Dec 26, 2022 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). External Standing Corporate Auditor Ryuichi Tsuruta was the last 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 05
Second quarter 2023 earnings released: EPS: JP¥26.68 (vs JP¥27.28 in 2Q 2022) Second quarter 2023 results: EPS: JP¥26.68 (down from JP¥27.28 in 2Q 2022). Revenue: JP¥5.25b (down 33% from 2Q 2022). Net income: JP¥703.0m (down 2.0% from 2Q 2022). Profit margin: 13% (up from 9.2% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Announcement • Aug 26
Zuiko Corporation to Report Q2, 2023 Results on Oct 03, 2022 Zuiko Corporation announced that they will report Q2, 2023 results on Oct 03, 2022 Upcoming Dividend • Aug 11
Upcoming dividend of JP¥8.10 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 01 November 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.3%). Reported Earnings • Jul 07
First quarter 2023 earnings released: JP¥2.59 loss per share (vs JP¥5.06 profit in 1Q 2022) First quarter 2023 results: JP¥2.59 loss per share (down from JP¥5.06 profit in 1Q 2022). Revenue: JP¥3.56b (up 6.3% from 1Q 2022). Net loss: JP¥68.0m (down 151% 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 fallen by 3% per year. Announcement • May 29
Zuiko Corporation to Report Q1, 2023 Results on Jun 24, 2022 Zuiko Corporation announced that they will report Q1, 2023 results on Jun 24, 2022 Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. No independent directors (7 non-independent directors). External Standing Corporate Auditor Ryuichi Tsuruta was the last 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: JP¥66.05 (vs JP¥61.67 in FY 2021) Full year 2022 results: EPS: JP¥66.05 (up from JP¥61.67 in FY 2021). Revenue: JP¥23.6b (up 2.1% from FY 2021). Net income: JP¥1.74b (up 7.2% from FY 2021). Profit margin: 7.4% (up from 7.0% in FY 2021). The increase in margin was driven by higher revenue. 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 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 10
Upcoming dividend of JP¥7.55 per share Eligible shareholders must have bought the stock before 17 February 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.9%). Reported Earnings • Dec 27
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥4.60 (down from JP¥13.36 in 3Q 2021). Revenue: JP¥4.22b (down 23% from 3Q 2021). Net income: JP¥121.0m (down 66% from 3Q 2021). Profit margin: 2.9% (down from 6.4% 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 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 27
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥4.60 (down from JP¥13.36 in 3Q 2021). Revenue: JP¥4.22b (down 23% from 3Q 2021). Net income: JP¥121.0m (down 66% from 3Q 2021). Profit margin: 2.9% (down from 6.4% 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 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 03
Second quarter 2022 earnings released: EPS JP¥27.28 (vs JP¥15.30 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥7.83b (up 42% from 2Q 2021). Net income: JP¥717.0m (up 78% from 2Q 2021). Profit margin: 9.2% (up from 7.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 
