New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 56% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 56% per year for the foreseeable future. Reported Earnings • Aug 04
First quarter 2027 earnings released: EPS: JP¥21.25 (vs JP¥24.59 in 1Q 2026) First quarter 2027 results: EPS: JP¥21.25 (down from JP¥24.59 in 1Q 2026). Revenue: JP¥86.8b (down 4.1% from 1Q 2026). Net income: JP¥5.51b (down 14% from 1Q 2026). Profit margin: 6.3% (down from 7.0% in 1Q 2026). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 4.7%. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Chiyoda Corporation to Report Q1, 2027 Results on Aug 03, 2026 Chiyoda Corporation announced that they will report Q1, 2027 results on Aug 03, 2026 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥800, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Construction industry in Japan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,118 per share. Live News • May 23
Chiyoda Partners With Novity to Launch AI Maintenance Solution in Key Global Markets Chiyoda signed a Memorandum of Understanding with Novity to combine Novity's TruPrognostics AI platform with Chiyoda's plantOS operations and maintenance solution.
The integrated offering will be promoted in Japan, the Middle East and North America, targeting industrial sectors that face aging infrastructure and labor shortages.
The combined solution is designed to provide predictive maintenance, equipment diagnostics, remaining useful life estimates and maintenance recommendations to support operational stability and reliability.
This partnership positions Chiyoda more firmly in digital solutions for industrial operations, which can complement its existing engineering and plant services offering.
Investors may want to watch how quickly this AI-based maintenance platform gains traction with customers in the target regions and how Chiyoda reports any related revenue or margin contribution over time. Reported Earnings • May 12
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥327 (up from JP¥96.05 in FY 2025). Revenue: JP¥493.9b (up 8.1% from FY 2025). Net income: JP¥84.7b (up 240% from FY 2025). Profit margin: 17% (up from 5.4% in FY 2025). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 65%. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • May 11
Chiyoda Corporation, Annual General Meeting, Jun 24, 2026 Chiyoda Corporation, Annual General Meeting, Jun 24, 2026. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥843, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 130% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥805 per share. Buy Or Sell Opportunity • May 11
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 44% to JP¥911. The fair value is estimated to be JP¥1,214, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 9.5% per annum. Earnings are also forecast to decline by 36% per annum over the same time period. Announcement • May 10
Chiyoda Corporation to Report Fiscal Year 2026 Results on May 11, 2026 Chiyoda Corporation announced that they will report fiscal year 2026 results on May 11, 2026 Buy Or Sell Opportunity • Apr 24
Now 20% undervalued Over the last 90 days, the stock has risen 15% to JP¥1,029. The fair value is estimated to be JP¥1,287, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 41% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,214, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Construction industry in Japan. Total returns to shareholders of 204% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,301 per share. Buy Or Sell Opportunity • Mar 26
Now 28% undervalued Over the last 90 days, the stock has risen 27% to JP¥934. The fair value is estimated to be JP¥1,293, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 41% per annum over the same time period. Buy Or Sell Opportunity • Mar 09
Now 22% undervalued Over the last 90 days, the stock has risen 42% to JP¥1,025. The fair value is estimated to be JP¥1,312, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 41% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,118, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Construction industry in Japan. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,312 per share. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,621, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Construction industry in Japan. Total returns to shareholders of 283% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,287 per share. Buy Or Sell Opportunity • Feb 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 217% to JP¥1,559. The fair value is estimated to be JP¥1,289, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 41% per annum over the same time period. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥238 (vs JP¥30.08 in 3Q 2025) Third quarter 2026 results: EPS: JP¥238 (up from JP¥30.08 in 3Q 2025). Revenue: JP¥193.5b (up 78% from 3Q 2025). Net income: JP¥61.6b (up JP¥53.8b from 3Q 2025). Profit margin: 32% (up from 7.2% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has increased by 50% per year and the company’s share price has also increased by 50% per year. Major Estimate Revision • Jan 29
Consensus EPS estimates increase by 121% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥390.4b to JP¥422.0b. EPS estimate increased from JP¥87.40 to JP¥193 per share. Net income forecast to grow 29% next year vs 4.3% growth forecast for Construction industry in Japan. Consensus price target up from JP¥653 to JP¥833. Share price rose 51% to JP¥1,295 over the past week. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,026, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Construction industry in Japan. Total returns to shareholders of 166% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥675 per share. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥951, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 156% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥677 per share. Buy Or Sell Opportunity • Jan 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 111% to JP¥830. The fair value is estimated to be JP¥676, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 5.2% per annum. Earnings are also forecast to decline by 4.3% per annum over the same time period. Announcement • Dec 26
Chiyoda Corporation to Report Q3, 2026 Results on Feb 06, 2026 Chiyoda Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥618, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 64% over the past three years. Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: JP¥43.25 (vs JP¥35.10 in 2Q 2025) Second quarter 2026 results: EPS: JP¥43.25 (up from JP¥35.10 in 2Q 2025). Revenue: JP¥104.3b (down 13% from 2Q 2025). Net income: JP¥11.2b (up 23% from 2Q 2025). Profit margin: 11% (up from 7.6% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to decline by 5.6% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.7%. 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 8% per year. Major Estimate Revision • Nov 06
Consensus EPS estimates increase by 32% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥61.50 to JP¥81.38. Revenue forecast steady at JP¥395.0b. Net income forecast to shrink 16% next year vs 5.9% growth forecast for Construction industry in Japan . Consensus price target up from JP¥367 to JP¥450. Share price rose 22% to JP¥501 over the past week. Price Target Changed • Nov 05
Price target increased by 27% to JP¥450 Up from JP¥354, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥473. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥71.67 for next year compared to JP¥96.05 last year. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥472, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Construction industry in Japan. Total returns to shareholders of 28% over the past three years. New Risk • Oct 22
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 5.7% 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: Major Risk Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (5.7% average weekly change). Announcement • Sep 30
Chiyoda Corporation to Report Q2, 2026 Results on Nov 05, 2025 Chiyoda Corporation announced that they will report Q2, 2026 results on Nov 05, 2025 Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: JP¥24.59 (vs JP¥15.50 in 1Q 2025) First quarter 2026 results: EPS: JP¥24.59 (up from JP¥15.50 in 1Q 2025). Revenue: JP¥90.5b (down 23% from 1Q 2025). Net income: JP¥6.37b (up 59% from 1Q 2025). Profit margin: 7.0% (up from 3.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Jul 09
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 5.9% 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: Major Risk Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (5.9% average weekly change). Announcement • Jul 02
Chiyoda Corporation to Report Q1, 2026 Results on Aug 04, 2025 Chiyoda Corporation announced that they will report Q1, 2026 results on Aug 04, 2025 Reported Earnings • Jun 27
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥96.05 (up from JP¥69.22 loss in FY 2024). Revenue: JP¥457.0b (down 9.7% from FY 2024). Net income: JP¥24.9b (up JP¥42.8b from FY 2024). Profit margin: 5.4% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is expected to decline by 8.4% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.5%. 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 6% per year. Reported Earnings • May 09
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥104 (up from JP¥69.22 loss in FY 2024). Revenue: JP¥457.0b (down 9.7% from FY 2024). Net income: JP¥27.0b (up JP¥44.9b from FY 2024). Profit margin: 5.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is expected to decline by 8.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 12% per year. Announcement • May 08
Chiyoda Corporation, Annual General Meeting, Jun 25, 2025 Chiyoda Corporation, Annual General Meeting, Jun 25, 2025. Announcement • Mar 29
Chiyoda Corporation to Report Q4, 2025 Results on May 08, 2025 Chiyoda Corporation announced that they will report Q4, 2025 results on May 08, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥30.08 (vs JP¥25.22 in 3Q 2024) Third quarter 2025 results: EPS: JP¥30.08 (up from JP¥25.22 in 3Q 2024). Revenue: JP¥108.7b (down 14% from 3Q 2024). Net income: JP¥7.80b (up 19% from 3Q 2024). Profit margin: 7.2% (up from 5.2% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 7.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Feb 05
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 5.8% 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. This is currently the only risk that has been identified for the company. Announcement • Jan 03
Chiyoda Corporation to Report Q3, 2025 Results on Feb 05, 2025 Chiyoda Corporation announced that they will report Q3, 2025 results on Feb 05, 2025 Price Target Changed • Nov 26
Price target increased by 12% to JP¥353 Up from JP¥317, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥339. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of JP¥85.14 next year compared to a net loss per share of JP¥69.22 last year. New Risk • Nov 23
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 5.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥39.15 (vs JP¥12.45 in 2Q 2024) Second quarter 2025 results: EPS: JP¥39.15 (up from JP¥12.45 in 2Q 2024). Revenue: JP¥120.3b (down 15% from 2Q 2024). Net income: JP¥10.1b (up 215% from 2Q 2024). Profit margin: 8.4% (up from 2.3% in 2Q 2024). Revenue is expected to decline by 7.5% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 30
Price target decreased by 14% to JP¥317 Down from JP¥370, the current price target is an average from 3 analysts. New target price is 8.1% above last closing price of JP¥293. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥69.03 next year compared to a net loss per share of JP¥69.22 last year. Announcement • Sep 28
Chiyoda Corporation to Report Q2, 2025 Results on Nov 05, 2024 Chiyoda Corporation announced that they will report Q2, 2025 results on Nov 05, 2024 Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥15.50 (vs JP¥16.83 in 1Q 2024) First quarter 2025 results: EPS: JP¥15.50 (down from JP¥16.83 in 1Q 2024). Revenue: JP¥117.0b (down 9.6% from 1Q 2024). Net income: JP¥4.02b (down 7.9% from 1Q 2024). Profit margin: 3.4% (in line with 1Q 2024). Revenue is expected to decline by 6.7% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 13
Chiyoda Corporation to Report Q1, 2025 Results on Jul 29, 2024 Chiyoda Corporation announced that they will report Q1, 2025 results on Jul 29, 2024 Reported Earnings • Jun 28
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: JP¥61.11 loss per share (down from JP¥50.54 profit in FY 2023). Revenue: JP¥506.0b (up 18% from FY 2023). Net loss: JP¥15.8b (down 221% from profit in FY 2023). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Construction industry in Japan are expected to grow by 2.6%. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jun 27
Chiyoda Corporation, Annual General Meeting, Jun 28, 2024 Chiyoda Corporation, Annual General Meeting, Jun 28, 2024. Announcement • Jun 26
Chiyoda Corporation to Report Fiscal Year 2024 Results on Jun 26, 2024 Chiyoda Corporation announced that they will report fiscal year 2024 results on Jun 26, 2024 New Risk • Jun 19
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 7.6% 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. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥363, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Construction industry in Japan. Total loss to shareholders of 11% over the past three years. New Risk • May 02
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 5.8% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥465, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Construction industry in Japan. Total loss to shareholders of 11% over the past three years. Announcement • Mar 30
Chiyoda Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Chiyoda Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥31.30 (vs JP¥31.89 in 3Q 2023) Third quarter 2024 results: EPS: JP¥31.30 (down from JP¥31.89 in 3Q 2023). Revenue: JP¥125.8b (up 1.3% from 3Q 2023). Net income: JP¥8.11b (down 1.8% from 3Q 2023). Profit margin: 6.4% (down from 6.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 06
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥51.30 to JP¥57.20. Revenue forecast unchanged at JP¥461.4b. Net income forecast to shrink 5.2% next year vs 9.8% growth forecast for Construction industry in Japan . Consensus price target of JP¥413 unchanged from last update. Share price rose 7.1% to JP¥361 over the past week. Buying Opportunity • Jan 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be JP¥437, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 4.5% in the next 2 years. Announcement • Dec 27
Chiyoda Corporation to Report Q3, 2024 Results on Feb 05, 2024 Chiyoda Corporation announced that they will report Q3, 2024 results on Feb 05, 2024 Buying Opportunity • Dec 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be JP¥433, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 4.5% in the next 2 years. Buying Opportunity • Nov 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥434, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 58%. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 10% in the next 2 years. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥16.50 (vs JP¥10.07 in 2Q 2023) Second quarter 2024 results: EPS: JP¥16.50 (up from JP¥10.07 in 2Q 2023). Revenue: JP¥142.3b (up 31% from 2Q 2023). Net income: JP¥4.28b (up 64% from 2Q 2023). Profit margin: 3.0% (up from 2.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Chiyoda Corporation to Report Q2, 2024 Results on Nov 02, 2023 Chiyoda Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥18.86 (vs JP¥6.43 in 1Q 2023) First quarter 2024 results: EPS: JP¥18.86 (up from JP¥6.43 in 1Q 2023). Revenue: JP¥129.4b (up 71% from 1Q 2023). Net income: JP¥4.88b (up 193% from 1Q 2023). Profit margin: 3.8% (up from 2.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Construction industry in Japan are expected to grow by 2.6%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Chiyoda Corporation to Report Q1, 2024 Results on Aug 02, 2023 Chiyoda Corporation announced that they will report Q1, 2024 results on Aug 02, 2023 Reported Earnings • Jun 28
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥58.64 (up from JP¥56.88 loss in FY 2022). Revenue: JP¥430.2b (up 38% from FY 2022). Net income: JP¥15.2b (up JP¥29.9b from FY 2022). Profit margin: 3.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 9.4%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Construction 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 8% per year, which means it is well ahead of earnings. Reported Earnings • May 10
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥58.64 (up from JP¥56.88 loss in FY 2022). Revenue: JP¥430.2b (up 38% from FY 2022). Net income: JP¥15.2b (up JP¥29.9b from FY 2022). Profit margin: 3.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 9.4%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Construction 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 15% per year, which means it is well ahead of earnings. Reported Earnings • Feb 03
Third quarter 2023 earnings released: EPS: JP¥31.89 (vs JP¥4.42 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.89 (up from JP¥4.42 in 3Q 2022). Revenue: JP¥124.2b (up 78% from 3Q 2022). Net income: JP¥8.26b (up JP¥7.12b from 3Q 2022). Profit margin: 6.7% (up from 1.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
Chiyoda Corporation to Report Q3, 2023 Results on Feb 02, 2023 Chiyoda Corporation announced that they will report Q3, 2023 results on Feb 02, 2023 Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent External Director Mika Narahashi is the most experienced director on the board, commencing their role in 2018. Independent External Director Yutaka Kunigo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥14.13 (vs JP¥5.25 in 2Q 2022) Second quarter 2023 results: EPS: JP¥14.13 (up from JP¥5.25 in 2Q 2022). Revenue: JP¥108.6b (up 62% from 2Q 2022). Net income: JP¥3.66b (up 169% from 2Q 2022). Profit margin: 3.4% (up from 2.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in Japan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 01
Price target increased to JP¥446 Up from JP¥415, the current price target is an average from 4 analysts. New target price is 11% above last closing price of JP¥403. Stock is up 3.9% over the past year. The company is forecast to post earnings per share of JP¥44.70 next year compared to a net loss per share of JP¥56.88 last year. Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: JP¥8.46 (vs JP¥68.49 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥8.46 (up from JP¥68.49 loss in 1Q 2022). Revenue: JP¥75.7b (down 5.9% from 1Q 2022). Net income: JP¥2.19b (up JP¥19.9b from 1Q 2022). Profit margin: 2.9% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 50%, compared to a 12% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: JP¥48.77 loss per share (down from JP¥22.76 profit in FY 2021). Revenue: JP¥311.1b (down 1.4% from FY 2021). Net loss: JP¥12.6b (down 314% from profit in FY 2021). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 23%, compared to a 7.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent External Director Ryo Matsukawa was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 03
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥10.50 (up from JP¥0.57 in 3Q 2021). Revenue: JP¥69.7b (down 14% from 3Q 2021). Net income: JP¥2.72b (up JP¥2.57b from 3Q 2021). Profit margin: 3.9% (up from 0.2% in 3Q 2021). Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 20%, compared to a 7.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥9.30 (vs JP¥3.07 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥66.9b (down 30% from 2Q 2021). Net income: JP¥2.41b (up 203% from 2Q 2021). Profit margin: 3.6% (up from 0.8% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
First quarter 2022 earnings released: JP¥66.46 loss per share (vs JP¥15.25 profit in 1Q 2021) The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: JP¥80.5b (up 23% from 1Q 2021). Net loss: JP¥17.2b (down JP¥21.2b from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥357, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Construction industry in Japan. Total loss to shareholders of 58% over the past three years. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥30.87 (vs JP¥40.94 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥315.4b (down 18% from FY 2020). Net income: JP¥7.99b (down 25% from FY 2020). Profit margin: 2.5% (down from 2.7% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
Full year 2021 earnings released: EPS JP¥30.87 (vs JP¥40.94 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥315.4b (down 18% from FY 2020). Net income: JP¥7.99b (down 25% from FY 2020). Profit margin: 2.5% (down from 2.7% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 03
New 90-day high: JP¥503 The company is up 110% from its price of JP¥239 on 03 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,354 per share. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥366 The company is up 60% from its price of JP¥229 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,049 per share. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥6.65 (vs JP¥48.68 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥81.4b (down 17% from 3Q 2020). Net income: JP¥1.72b (down 86% from 3Q 2020). Profit margin: 2.1% (down from 13% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is expected to shrink by 5.1% compared to a 1.8% growth forecast for the Construction industry in Japan. Price Target Changed • Jan 20
Price target lowered to JP¥235 Down from JP¥290, the current price target is an average from 4 analysts. The new target price is 31% below the current share price of JP¥341. As of last close, the stock is up 22% over the past year. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥342, the stock is trading at a trailing P/E ratio of 8x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 9x in the Construction industry in Japan. Total return to shareholders over the past three years is a loss of 62%.