Live News • Jul 03
Mabuchi Motor to Cancel Nearly 5 Million Repurchased Under Buyback Program Mabuchi Motor repurchased 2,392,900 shares in June 2026 for about ¥3.72 billion under its open-market buyback program, bringing total repurchases to nearly 5 million shares, and plans to cancel all of the repurchased stock.
The decision to cancel, rather than retain, the treasury shares directly reduces the share count once executed, tightening Mabuchi Motor’s equity base and reflecting management’s willingness to return capital to shareholders.
Mabuchi Motor shares trade at ¥1,620.50, with the stock up 12.5% year to date, putting the buyback and planned cancellation against a backdrop of recent share price strength.
The planned share cancellation means existing holders will own a larger slice of the company once it is completed, but it also commits cash to buybacks that could otherwise be used for investment or balance sheet flexibility, so investors need to weigh that capital allocation trade-off. Announcement • Jul 02
Mabuchi Motor Co., Ltd. to Report Q2, 2026 Results on Aug 14, 2026 Mabuchi Motor Co., Ltd. announced that they will report Q2, 2026 results on Aug 14, 2026 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 16 September 2026. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.0%). Live News • Jun 12
Mabuchi Motor Expands Into Food Automation With MASDAC Acquisition Mabuchi Motor has completed the acquisition of MASDAC, a Japanese food machinery manufacturer focused on automated confectionery production lines.
The deal is intended to combine MASDAC’s engineering capabilities with Mabuchi Motor’s global production and expansion platform.
The company indicates only a limited short-term financial impact from the transaction, with the focus placed on longer-term benefits from labor-saving solutions in food manufacturing.
The key angle is that Mabuchi Motor is extending its motor-focused know-how into a different industrial field where automation and labor-saving equipment are important themes.
Investors may want to watch how effectively the company integrates MASDAC’s engineering with its own manufacturing footprint and whether future disclosures quantify any material contribution from this new business line. Live News • May 08
Mabuchi Motor Ramps Up Share Buyback With Plans to Cancel 24 Million Shares Mabuchi Motor repurchased 145,800 shares in April 2026 under its ongoing open-market treasury stock program.
The company is working toward a broader plan to acquire up to 24 million shares and subsequently cancel all repurchased stock.
Management indicates that the cancellation of these shares is intended to improve capital efficiency and support shareholder value.
For you as an investor, the key point is that Mabuchi Motor is actively shrinking its share count through a sizeable buyback that is designed to end with the cancellation of the acquired shares. When shares are cancelled, each remaining share represents a larger claim on the company’s equity than before, which can be an important factor when you think about metrics such as earnings per share in future periods.
The stated goal of improving capital efficiency signals that management is focused on how its balance sheet is structured and how surplus capital is used. While this program is still in progress, the April repurchase figure gives you a sense of the current pace of activity relative to the total planned 24 million shares. You may want to watch future disclosures to see how quickly the company advances toward that ceiling and whether it updates the size or timing of the program. Reported Earnings • Apr 29
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥23.62 (up from JP¥13.23 in 1Q 2025). Revenue: JP¥50.4b (up 7.3% from 1Q 2025). Net income: JP¥5.80b (up 75% from 1Q 2025). Profit margin: 12% (up from 7.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year. Announcement • Apr 23
Mabuchi Motor Co., Ltd. (TSE:6592) entered into a share purchase agreement to acquire MASDAC Co., Ltd. from BCM Chusho Kigyo Shien Fund a fund managed by Basic Capital Management, Limited and Other shareholders ¥15.5 billion. Mabuchi Motor Co., Ltd. (TSE:6592) entered into a share purchase agreement to acquire MASDAC Co., Ltd. from BCM Chusho Kigyo Shien Fund a fund managed by Basic Capital Management, Limited and Other shareholders ¥15.5 billion on April 23, 2026. A cash consideration of ¥15.5 billion will be paid by Mabuchi Motor Co., Ltd. As part of consideration, ¥15.5 billion is paid towards common equity of MASDAC Co., Ltd.
For the period ending April 30, 2025, MASDAC Co., Ltd. reported total revenue of ¥14.22 billion.
The transaction is expected to be completed in Mid June 2026. Declared Dividend • Apr 11
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th June 2026 Payment date: 16th September 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.7% over the next 3 years. However, it would need to fall by 44% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 03
Mabuchi Motor Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Mabuchi Motor Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Reported Earnings • Feb 14
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥212 (up from JP¥50.50 in FY 2024). Revenue: JP¥200.4b (up 2.1% from FY 2024). Net income: JP¥26.3b (up 105% from FY 2024). Profit margin: 13% (up from 6.5% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 20% per year. Announcement • Feb 13
Mabuchi Motor Co., Ltd., Annual General Meeting, Mar 27, 2026 Mabuchi Motor Co., Ltd., Annual General Meeting, Mar 27, 2026. Price Target Changed • Jan 13
Price target increased by 7.4% to JP¥1,432 Up from JP¥1,334, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of JP¥1,469. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥79.81 for next year compared to JP¥50.50 last year. Major Estimate Revision • Jan 13
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥70.42 to JP¥78.25. Revenue forecast steady at JP¥195.0b. Net income forecast to shrink 1.5% next year vs 11% growth forecast for Electrical industry in Japan . Consensus price target up from JP¥1,334 to JP¥1,421. Share price was steady at JP¥1,458 over the past week. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Announcement • Dec 11
Mabuchi Motor Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026 Mabuchi Motor Co., Ltd. announced that they will report fiscal year 2025 results on Feb 13, 2026 Reported Earnings • Nov 01
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥74.27 (up from JP¥11.36 loss in 3Q 2024). Revenue: JP¥52.1b (up 2.5% from 3Q 2024). Net income: JP¥9.15b (up JP¥10.6b from 3Q 2024). Profit margin: 18% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 106%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. 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 10% per year, which means it is well ahead of earnings. Announcement • Oct 24
Mabuchi Motor Co., Ltd. (TSE:6592) agreed to acquire Nippon Pulse Motor Co., Ltd. for ¥6.6 billion from on Hiroki HASHIDATE, Matsutoshi MASUDA and Aiko HASHIDATE. Mabuchi Motor Co., Ltd. (TSE:6592) agreed to acquire Nippon Pulse Motor Co., Ltd. for ¥6.6 billion from on Hiroki HASHIDATE, Matsutoshi MASUDA and Aiko HASHIDATE October 23, 2025. A cash consideration of ¥6.6 billion will be paid by Mabuchi Motor Co., Ltd. As part of consideration, ¥6.6 billion is paid towards common equity of Nippon Pulse Motor Co., Ltd.
For the period ending April 30, 2025, Nippon Pulse Motor Co., Ltd. reported total revenue of ¥10.42 billion.
The transaction is expected to complete in early January 2026. Announcement • Sep 27
Mabuchi Motor Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Mabuchi Motor Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Declared Dividend • Sep 17
First half dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (104% earnings payout ratio). However, it is well covered by cash flows (36% cash payout ratio). The dividend has increased by an average of 6.5% 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 grow by 16% to bring the payout ratio under control. EPS is expected to grow by 57% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥45.18 (down from JP¥45.39 in 2Q 2024). Revenue: JP¥48.0b (down 4.5% from 2Q 2024). Net income: JP¥5.62b (down 2.7% from 2Q 2024). Profit margin: 12% (in line with 2Q 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Aug 14
Mabuchi Motor Co., Ltd. (TSE:6592) announces an Equity Buyback for 12,000,000 shares, representing 9.73% for ¥19,000 million. Mabuchi Motor Co., Ltd. (TSE:6592) announces a share repurchase program. Under the program, the company will repurchase 12,000,000 shares, representing 9.73% of its share capital (excluding treasury shares), for ¥19,000 million. The company will repurchase its shares in order to implement a flexible capital policy to respond to changes in the business environment and to improve shareholder returns and capital efficiency. The program will run until September 30, 2026. As of July 31, 2025, the company had 123,298,249 shares outstanding (excluding treasury shares) and 7,026,675 shares in treasury. Announcement • Jul 02
Mabuchi Motor Co., Ltd. (TSE:6592) completed the acquisition of Small Motor Business of Oki Micro Engineering Co., Ltd. Mabuchi Motor Co., Ltd. (TSE:6592) signed share purchase agreement to acquire Small Motor Business of Oki Micro Engineering Co., Ltd. on June 7, 2024. The acquired business will be transferred to Oki ME Co., Ltd. which is formed newly.
For the fiscal year ending March 2025, Small Motor Business of Oki Micro Engineering Co., Ltd. reported revenue of ¥3.253 billion.
Mabuchi Motor Co., Ltd. (TSE:6592) completed the acquisition of Small Motor Business of Oki Micro Engineering Co., Ltd. on July 1, 2025. Oki ME Co., Ltd. has been renamed as Mabuchi Motor Micro Tech Co., Ltd. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 16 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.0%). Announcement • Jun 03
Mabuchi Motor Co., Ltd. to Report Q2, 2025 Results on Aug 14, 2025 Mabuchi Motor Co., Ltd. announced that they will report Q2, 2025 results on Aug 14, 2025 Board Change • Apr 18
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Outside Director Seiji Sakata was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Declared Dividend • Apr 11
Final dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 27th June 2025 Payment date: 16th September 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 05
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥101 (down from JP¥151 in FY 2023). Revenue: JP¥196.2b (up 9.8% from FY 2023). Net income: JP¥12.8b (down 34% from FY 2023). Profit margin: 6.5% (down from 11% in FY 2023). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Buy Or Sell Opportunity • Apr 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to JP¥2,158. The fair value is estimated to be JP¥2,701, 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 9.9%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Apr 02
Mabuchi Motor Co., Ltd. (TSE:6592) completed the acquisition of Ob Kogyo Ltd. from Tatsuya Omura and Kayako Omura. Mabuchi Motor Co., Ltd. (TSE:6592) agreed to acquire Ob Kogyo Ltd. from Tatsuya Omura and Kayako Omura on February 7, 2025. A cash consideration will be paid by Mabuchi Motor Co., Ltd.
For the period ending March 31, 2024, Ob Kogyo Ltd. reported total revenue of ¥4.02 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is April 1, 2025 to April 30, 2025. G-FAS Corporation has acted as an advisor in this deal.
Mabuchi Motor Co., Ltd. (TSE:6592) completed the acquisition of Ob Kogyo Ltd. from Tatsuya Omura and Kayako Omura on April 1, 2025. After the completion the company changed the name of Ob Kogyo Ltd. to MABUCHI OB GEAR SYSTEM CO. LTD. to improve company's group cohesiveness. Announcement • Mar 28
Mabuchi Motor Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Mabuchi Motor Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 New Risk • Feb 16
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: 6.5% Last year net profit margin: 11% 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: 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. Profit margins are more than 30% lower than last year (6.5% net profit margin). Announcement • Feb 15
Mabuchi Motor Co., Ltd. (TSE:6592) announces an Equity Buyback for 4,600,000 shares, representing 3.66% for ¥7,000 million. Mabuchi Motor Co., Ltd. (TSE:6592) announces a share repurchase program. Under the program, the company will repurchase 4,600,000 shares, representing 3.66% of its share capital (excluding treasury shares), for ¥7,000 million. The company will repurchase its shares in order to implement a flexible capital policy to respond to changes in the business environment and to improve shareholder returns and capital efficiency. The program will run until December 23, 2025. As of December 31, 2024, the company had 125,786,046 shares outstanding (excluding treasury shares) and 4,538,878 shares in treasury. Announcement • Jan 07
Mabuchi Motor Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025 Mabuchi Motor Co., Ltd. announced that they will report fiscal year 2024 results at 3:00 PM, Tokyo Standard Time on Feb 14, 2025 Upcoming Dividend • Dec 20
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.9%). Reported Earnings • Nov 03
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: JP¥11.36 loss per share (down from JP¥40.55 profit in 3Q 2023). Revenue: JP¥50.8b (up 7.0% from 3Q 2023). Net loss: JP¥1.44b (down 127% from profit in 3Q 2023). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Sep 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to JP¥2,137. The fair value is estimated to be JP¥2,689, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to decline by 20% in the next 2 years. Announcement • Sep 03
Mabuchi Motor Co., Ltd. to Report Q3, 2024 Results on Nov 01, 2024 Mabuchi Motor Co., Ltd. announced that they will report Q3, 2024 results on Nov 01, 2024 Reported Earnings • Aug 18
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥45.39 (down from JP¥51.61 in 2Q 2023). Revenue: JP¥50.2b (up 17% from 2Q 2023). Net income: JP¥5.77b (down 14% from 2Q 2023). Profit margin: 12% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 81%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electrical industry in Japan. 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 5% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
Mabuchi Motor Co., Ltd. (TSE:6592) announces an Equity Buyback for 2,000,000 shares, representing 1.57% for ¥3,000 million. Mabuchi Motor Co., Ltd. (TSE:6592) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 1.57% of its share capital (excluding treasury shares), for ¥3,000 million. The company will repurchase its shares in order to implement a flexible capital policy to respond to changes in the business environment and to improve shareholder returns and capital efficiency. The shares repurchased will be cancelled. The program will run until December 23, 2024. As of June 30, 2024, the company had 127,064,575 shares outstanding (excluding treasury shares) and 4,620,349 shares in treasury. Declared Dividend • Aug 16
Dividend of JP¥38.00 announced Shareholders will receive a dividend of JP¥38.00. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 18% over the next 3 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,932, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 4.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,788 per share. Buy Or Sell Opportunity • Aug 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to JP¥2,198. The fair value is estimated to be JP¥2,792, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to decline by 23% in the next 2 years. Buy Or Sell Opportunity • Jul 01
Now 20% overvalued Over the last 90 days, the stock has fallen 10% to JP¥2,378. The fair value is estimated to be JP¥1,988, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Buy Or Sell Opportunity • Jun 24
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to JP¥2,415. The fair value is estimated to be JP¥2,008, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Board Change • Jun 18
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director Seiji Sakata was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 10
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to JP¥2,416. The fair value is estimated to be JP¥2,003, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Announcement • Jun 06
Mabuchi Motor Co., Ltd. to Report Q2, 2024 Results on Aug 14, 2024 Mabuchi Motor Co., Ltd. announced that they will report Q2, 2024 results on Aug 14, 2024 Reported Earnings • Apr 28
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: JP¥52.61 (up from JP¥26.67 in 1Q 2023). Revenue: JP¥45.1b (up 16% from 1Q 2023). Net income: JP¥6.73b (up 95% from 1Q 2023). Profit margin: 15% (up from 8.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 83%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased by 7.6% to JP¥2,718 Down from JP¥2,940, the current price target is an average from 10 analysts. New target price is 12% above last closing price of JP¥2,437. Stock is up 27% over the past year. The company is forecast to post earnings per share of JP¥128 for next year compared to JP¥301 last year. Buy Or Sell Opportunity • Apr 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.7% to JP¥2,659. The fair value is estimated to be JP¥2,184, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 0.6% per annum over the same time period. Declared Dividend • Apr 11
Final dividend of JP¥38.00 announced Shareholders will receive a dividend of JP¥38.00. Ex-date: 27th June 2024 Payment date: 11th September 2024 Dividend yield will be 4.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (19% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 58% over the next 3 years. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 20
Mabuchi Motor Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Mabuchi Motor Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Feb 21
Price target increased by 12% to JP¥2,768 Up from JP¥2,475, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of JP¥2,716. Stock is up 47% over the past year. The company is forecast to post earnings per share of JP¥118 for next year compared to JP¥282 last year. Reported Earnings • Feb 16
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥282 (up from JP¥110 in FY 2022). Revenue: JP¥178.7b (up 14% from FY 2022). Net income: JP¥18.2b (up 27% from FY 2022). Profit margin: 10% (up from 9.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Mabuchi Motor Co., Ltd. (TSE:6592) announces an Equity Buyback for 2,000,000 shares, representing 1.56% for ¥3,000 million. Mabuchi Motor Co., Ltd. (TSE:6592) announces a share repurchase program. Under the program, the company will repurchase 2,000,000 shares, representing 1.56% of its share capital (excluding treasury shares), for ¥3,000 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, and improve shareholder returns and capital efficiency. The shares repurchased will be cancelled. The program will run until June 21, 2024. As of December 31, 2023, the company had 128,089,112 shares outstanding (excluding treasury shares) and 4,731,412 shares in treasury. Announcement • Feb 14
Mabuchi Motor Co., Ltd. Announces Change in Basic Dividend Calculation Standard Mabuchi Motor Co., Ltd. announced that it has decided to change the basic dividend calculation standard as: Before the Change: When calculating the basic dividend amount, except in times of significant decline in business performance due to a sudden deterioration in the business environment, the annual ordinary dividend is JPY 30 per share, which a stable dividend over the long term, and the special dividend of 30% of consolidated net income, which is a business result, converted to a per share amount, is added. After the Change: The dividend calculation standard will be changed to the dividend on equity ratio (DOE) basis. Specifically, the Company will shift to a policy of determining DOE of 3.0 to 4.0% by comprehensively considering cash flow, business environment and other factors, and by realizing long-term stable dividends, the Company aims to further strengthen shareholder returns. Timing of the Change: The change will be applied from fiscal 2024 (the fiscal year ending December 2024). Announcement • Feb 10
Mabuchi Motor Co., Ltd., Annual General Meeting, Mar 28, 2024 Mabuchi Motor Co., Ltd., Annual General Meeting, Mar 28, 2024. Announcement • Dec 29
Mabuchi Motor Co., Ltd. Announces Changes in Directors and Executive Officers, Effective February 1, 2024 Mabuchi Motor Co., Ltd. announces the following changes in the directors and executive officers of the Company. Change in Responsibilities of Directors (February 1, 2024): The company appointed Kazuaki MIYAJIMA as Member of the Board, Executive Officer, Chief Technology Officer, Head of Manufacturing Headquarters and Present Position is Member of the Board, Executive Officer, Chief Technology Officer. Tomofumi IMAMURA as Group Executive Officer, Chief Regional Officer in Europe, Chairman - MABUCHI MOTOR POLAND sp.z o.o and Present Position is Group Executive Officer, Chief Regional Officer in Europe, Chairman & President - MABUCHI MOTOR POLAND sp.z o.o. Toru SHIBASAKI as Group Executive Officer, President - MABUCHI MOTOR POLAND sp.z o.o. and Present Position is Executive Officer, Head of Manufacturing Headquarters. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥83.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.1%). Announcement • Dec 10
Mabuchi Motor Co., Ltd. to Report Fiscal Year 2023 Results on Feb 14, 2024 Mabuchi Motor Co., Ltd. announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 04
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥81.10 (down from JP¥90.01 in 3Q 2022). Revenue: JP¥47.5b (up 11% from 3Q 2022). Net income: JP¥5.24b (down 9.9% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Mabuchi Motor Co., Ltd. to Report Q3, 2023 Results on Nov 02, 2023 Mabuchi Motor Co., Ltd. announced that they will report Q3, 2023 results on Nov 02, 2023 Major Estimate Revision • Aug 22
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from JP¥209 to JP¥246. Revenue forecast unchanged at JP¥168.9b. Net income forecast to shrink 9.6% next year vs 3.8% growth forecast for Electrical industry in Japan . Consensus price target of JP¥4,282 unchanged from last update. Share price fell 2.6% to JP¥4,302 over the past week.