Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. Senior Executive Officer & Director Lei Lu was the last director to join the board, commencing their role in 2026. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 20
Idec Corporation Announces Retirement of Mikio Funaki as Representative Director, Effective July 1, 2026 IDEC Corporation resolved at a meeting of the Board of Directors held on June 19, 2026, to implement changes in its Representative Directors to strengthen its management structure and ensure a smooth succession, thereby promoting the growth of its global business and enhancing corporate value over the medium- to long-term. The company announced the retirement of Mikio Funaki as Representative Director, will assume the position of Director, Vice Chairman without representative authority, effective July 1, 2026. Reported Earnings • May 16
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥131 (up from JP¥60.33 in FY 2025). Revenue: JP¥73.0b (up 8.3% from FY 2025). Net income: JP¥3.87b (up 118% from FY 2025). Profit margin: 5.3% (up from 2.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 14
IDEC Corporation, Annual General Meeting, Jun 19, 2026 IDEC Corporation, Annual General Meeting, Jun 19, 2026. Announcement • May 09
IDEC Corporation to Report Fiscal Year 2026 Results on May 14, 2026 IDEC Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 02 June 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥38.30 (vs JP¥11.36 in 3Q 2025) Third quarter 2026 results: EPS: JP¥38.30 (up from JP¥11.36 in 3Q 2025). Revenue: JP¥18.9b (up 15% from 3Q 2025). Net income: JP¥1.13b (up 238% from 3Q 2025). Profit margin: 6.0% (up from 2.0% in 3Q 2025). 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 5.8% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 62% 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. Declared Dividend • Dec 02
First half dividend of JP¥65.00 announced Dividend of JP¥65.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 2nd June 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (170% 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 by an average of 16% 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 89% to bring the payout ratio under control. EPS is expected to grow by 153% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Nov 29
IDEC Corporation to Report Q3, 2026 Results on Feb 06, 2026 IDEC Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Major Estimate Revision • Nov 14
Consensus EPS estimates increase by 79% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥69.7b to JP¥72.0b. EPS estimate increased from JP¥81.30 to JP¥146 per share. Net income forecast to grow 127% next year vs 11% growth forecast for Electrical industry in Japan. Consensus price target up from JP¥2,750 to JP¥3,000. Share price rose 12% to JP¥2,547 over the past week. Price Target Changed • Nov 12
Price target increased by 14% to JP¥3,000 Up from JP¥2,625, the current price target is provided by 1 analyst. New target price is 19% above last closing price of JP¥2,518. Stock is down 1.8% over the past year. The company is forecast to post earnings per share of JP¥146 for next year compared to JP¥60.33 last year. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥43.69 (vs JP¥33.28 in 2Q 2025) Second quarter 2026 results: EPS: JP¥43.69 (up from JP¥33.28 in 2Q 2025). Revenue: JP¥18.4b (up 7.3% from 2Q 2025). Net income: JP¥1.29b (up 32% from 2Q 2025). Profit margin: 7.0% (up from 5.7% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 2 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 fallen by 62% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 28
Now 21% undervalued Over the last 90 days, the stock has risen 4.5% to JP¥2,377. The fair value is estimated to be JP¥3,008, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 55%. Revenue is forecast to grow by 6.7% in a year. Earnings are forecast to grow by 43% in the next year. Buy Or Sell Opportunity • Sep 26
Now 20% undervalued Over the last 90 days, the stock has risen 9.8% to JP¥2,530. The fair value is estimated to be JP¥3,167, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 55%. Revenue is forecast to grow by 6.2% in a year. Earnings are forecast to grow by 38% in the next year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 25 November 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Announcement • Sep 12
IDEC Corporation to Report Q2, 2026 Results on Nov 07, 2025 IDEC Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Major Estimate Revision • Aug 19
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥88.20 to JP¥77.90 per share. Revenue forecast steady at JP¥69.4b. Net income forecast to grow 38% next year vs 12% growth forecast for Electrical industry in Japan. Consensus price target of JP¥2,750 unchanged from last update. Share price was steady at JP¥2,343 over the past week. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥15.76 (vs JP¥10.19 in 1Q 2025) First quarter 2026 results: EPS: JP¥15.76 (up from JP¥10.19 in 1Q 2025). Revenue: JP¥15.7b (down 1.4% from 1Q 2025). Net income: JP¥465.0m (up 55% from 1Q 2025). Profit margin: 3.0% (up from 1.9% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 2 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 55% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Jul 11
IDEC Corporation to Report Q1, 2026 Results on Aug 07, 2025 IDEC Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Declared Dividend • Jul 09
Final dividend of JP¥65.00 announced Dividend of JP¥65.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 25th November 2025 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (148% earnings payout ratio) nor is it covered by cash flows (470% cash payout ratio). The dividend has increased by an average of 16% 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 65% to bring the payout ratio under control. EPS is expected to grow by 98% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. Senior Executive Officer of Manufacturing, SCM & US Business and Director Takao Funaki was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 24
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥60.33 (down from JP¥150 in FY 2024). Revenue: JP¥67.4b (down 7.3% from FY 2024). Net income: JP¥1.78b (down 60% from FY 2024). Profit margin: 2.6% (down from 6.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • May 20
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥60.33 (down from JP¥150 in FY 2024). Revenue: JP¥67.4b (down 7.3% from FY 2024). Net income: JP¥1.78b (down 60% from FY 2024). Profit margin: 2.6% (down from 6.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 15
IDEC Corporation, Annual General Meeting, Jun 20, 2025 IDEC Corporation, Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,059, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Electrical industry in Japan. Total returns to shareholders of 2.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,978 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Announcement • Mar 01
IDEC Corporation to Report Fiscal Year 2025 Results on May 15, 2025 IDEC Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥67.0b to JP¥66.2b. EPS estimate also fell from JP¥81.30 per share to JP¥64.35 per share. Net income forecast to grow 32% next year vs 0.4% decline forecast for Electrical industry in Japan. Consensus price target of JP¥2,675 unchanged from last update. Share price was steady at JP¥2,524 over the past week. Reported Earnings • Feb 05
Third quarter 2025 earnings released: EPS: JP¥11.36 (vs JP¥8.95 in 3Q 2024) Third quarter 2025 results: EPS: JP¥11.36 (up from JP¥8.95 in 3Q 2024). Revenue: JP¥16.4b (down 1.0% from 3Q 2024). Net income: JP¥335.0m (up 27% from 3Q 2024). Profit margin: 2.0% (up from 1.6% in 3Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Major Estimate Revision • Dec 16
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥69.1b to JP¥67.0b. EPS estimate also fell from JP¥108 per share to JP¥81.30 per share. Net income forecast to grow 43% next year vs 3.3% growth forecast for Electrical industry in Japan. Consensus price target down from JP¥2,825 to JP¥2,675. Share price fell 2.3% to JP¥2,374 over the past week. Declared Dividend • Nov 26
First half dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 28th March 2025 Payment date: 27th May 2025 Dividend yield will be 5.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (152% earnings payout ratio). However, it is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 16% 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 69% to bring the payout ratio under control. EPS is expected to grow by 110% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥33.28 (vs JP¥58.13 in 2Q 2024) Second quarter 2025 results: EPS: JP¥33.28 (down from JP¥58.13 in 2Q 2024). Revenue: JP¥17.1b (down 13% from 2Q 2024). Net income: JP¥981.0m (down 43% from 2Q 2024). Profit margin: 5.7% (down from 8.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% 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 fallen by 19% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Oct 30
IDEC Corporation to Report Q3, 2025 Results on Feb 04, 2025 IDEC Corporation announced that they will report Q3, 2025 results on Feb 04, 2025 Price Target Changed • Oct 17
Price target decreased by 8.1% to JP¥2,825 Down from JP¥3,075, the current price target is an average from 2 analysts. New target price is 12% above last closing price of JP¥2,525. Stock is down 9.8% over the past year. The company is forecast to post earnings per share of JP¥112 for next year compared to JP¥150 last year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.0%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Aug 27
IDEC Corporation to Report Q2, 2025 Results on Nov 01, 2024 IDEC Corporation announced that they will report Q2, 2025 results on Nov 01, 2024 Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥130 to JP¥117 per share. Revenue forecast steady at JP¥72.0b. Net income forecast to grow 25% next year vs 1.3% growth forecast for Electrical industry in Japan. Consensus price target of JP¥3,075 unchanged from last update. Share price was steady at JP¥2,660 over the past week. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥10.19 (vs JP¥50.13 in 1Q 2024) First quarter 2025 results: EPS: JP¥10.19 (down from JP¥50.13 in 1Q 2024). Revenue: JP¥16.0b (down 12% from 1Q 2024). Net income: JP¥300.0m (down 80% from 1Q 2024). Profit margin: 1.9% (down from 8.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.6% 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 fallen by 3% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Aug 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 6.4% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (130% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥2,258, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 10% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
IDEC Corporation to Report Q1, 2025 Results on Aug 02, 2024 IDEC Corporation announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • Jun 21
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥150 (down from JP¥348 in FY 2023). Revenue: JP¥72.7b (down 13% from FY 2023). Net income: JP¥4.41b (down 57% from FY 2023). Profit margin: 6.1% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electrical industry in Japan. 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 12% per year. Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥150 (down from JP¥348 in FY 2023). Revenue: JP¥72.7b (down 13% from FY 2023). Net income: JP¥4.41b (down 57% from FY 2023). Profit margin: 6.1% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Electrical industry in Japan. 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 19% per year. Announcement • May 12
IDEC Corporation, Annual General Meeting, Jun 14, 2024 IDEC Corporation, Annual General Meeting, Jun 14, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Major Estimate Revision • Mar 20
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥73.3b to JP¥71.4b. EPS estimate also fell from JP¥178 per share to JP¥149 per share. Net income forecast to shrink 18% next year vs 1.7% decline forecast for Electrical industry in Japan. Consensus price target of JP¥3,125 unchanged from last update. Share price was steady at JP¥2,738 over the past week. Announcement • Mar 02
IDEC Corporation to Report Fiscal Year 2024 Results on May 10, 2024 IDEC Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥8.95 (vs JP¥79.04 in 3Q 2023) Third quarter 2024 results: EPS: JP¥8.95 (down from JP¥79.04 in 3Q 2023). Revenue: JP¥16.5b (down 21% from 3Q 2023). Net income: JP¥263.0m (down 89% from 3Q 2023). Profit margin: 1.6% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.3% 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 30% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Dec 03
IDEC Corporation to Report Q3, 2024 Results on Feb 02, 2024 IDEC Corporation announced that they will report Q3, 2024 results on Feb 02, 2024 Major Estimate Revision • Nov 28
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥75.9b to JP¥75.1b. EPS estimate also fell from JP¥256 per share to JP¥200 per share. Net income forecast to shrink 5.5% next year vs 6.2% growth forecast for Electrical industry in Japan . Consensus price target down from JP¥3,325 to JP¥3,125. Share price fell 2.5% to JP¥2,819 over the past week. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥58.13 (vs JP¥108 in 2Q 2023) Second quarter 2024 results: EPS: JP¥58.13 (down from JP¥108 in 2Q 2023). Revenue: JP¥19.6b (down 15% from 2Q 2023). Net income: JP¥1.71b (down 46% from 2Q 2023). Profit margin: 8.7% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.9% 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 44% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥65.00 per share at 4.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 42% and the cash payout ratio is 89%. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.9%). Major Estimate Revision • Sep 15
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥80.1b to JP¥76.0b. EPS estimate also fell from JP¥311 per share to JP¥263 per share. Net income forecast to shrink 9.2% next year vs 4.1% growth forecast for Electrical industry in Japan . Consensus price target down from JP¥3,600 to JP¥3,250. Share price was steady at JP¥3,090 over the past week. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥50.13 (vs JP¥88.08 in 1Q 2023) First quarter 2024 results: EPS: JP¥50.13 (down from JP¥88.08 in 1Q 2023). Revenue: JP¥18.2b (down 9.8% from 1Q 2023). Net income: JP¥1.47b (down 43% from 1Q 2023). Profit margin: 8.1% (down from 13% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 21
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥348 (up from JP¥264 in FY 2022). Revenue: JP¥83.9b (up 19% from FY 2022). Net income: JP¥10.1b (up 28% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Electrical industry in Japan are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • May 31
IDEC Corporation to Report Q1, 2024 Results on Aug 03, 2023 IDEC Corporation announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥348 (up from JP¥264 in FY 2022). Revenue: JP¥83.9b (up 19% from FY 2022). Net income: JP¥10.1b (up 28% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 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 57% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • May 14
IDEC Corporation, Annual General Meeting, Jun 16, 2023 IDEC Corporation, Annual General Meeting, Jun 16, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥79.04 (vs JP¥59.23 in 3Q 2022) Third quarter 2023 results: EPS: JP¥79.04 (up from JP¥59.23 in 3Q 2022). Revenue: JP¥20.9b (up 20% from 3Q 2022). Net income: JP¥2.31b (up 30% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Electrical industry in Japan. 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. Buying Opportunity • Jan 26
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥3,851, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 53%. Revenue is forecast to grow by 20% in a year. Earnings is forecast to grow by 11% in the next year. Major Estimate Revision • Jan 12
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥87.1b to JP¥91.6b. EPS estimate increased from JP¥338 to JP¥374 per share. Net income forecast to grow 11% next year vs 2.0% growth forecast for Electrical industry in Japan. Consensus price target of JP¥3,600 unchanged from last update. Share price rose 3.9% to JP¥2,927 over the past week. Announcement • Dec 28
IDEC Corporation to Report Q3, 2023 Results on Feb 03, 2023 IDEC Corporation announced that they will report Q3, 2023 results on Feb 03, 2023 Price Target Changed • Nov 16
Price target increased to JP¥3,600 Up from JP¥3,000, the current price target is provided by 1 analyst. New target price is 19% above last closing price of JP¥3,020. Stock is up 13% over the past year. The company is forecast to post earnings per share of JP¥338 for next year compared to JP¥264 last year. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥108 (vs JP¥57.58 in 2Q 2022) Second quarter 2023 results: EPS: JP¥108 (up from JP¥57.58 in 2Q 2022). Revenue: JP¥23.0b (up 31% from 2Q 2022). Net income: JP¥3.14b (up 82% from 2Q 2022). Profit margin: 14% (up from 9.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 20
IDEC Corporation to Report Q2, 2023 Results on Nov 04, 2022 IDEC Corporation announced that they will report Q2, 2023 results on Nov 04, 2022 Major Estimate Revision • Oct 13
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥83.5b to JP¥87.1b. EPS estimate increased from JP¥303 to JP¥338 per share. Net income forecast to grow 14% next year vs 6.9% growth forecast for Electrical industry in Japan. Consensus price target of JP¥3,600 unchanged from last update. Share price was steady at JP¥2,984 over the past week. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥88.08 (vs JP¥59.98 in 1Q 2022) First quarter 2023 results: EPS: JP¥88.08 (up from JP¥59.98 in 1Q 2022). Revenue: JP¥20.2b (up 17% from 1Q 2022). Net income: JP¥2.56b (up 42% from 1Q 2022). Profit margin: 13% (up from 10% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.1%, compared to a 9.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
IDEC Corporation to Report Q1, 2023 Results on Aug 04, 2022 IDEC Corporation announced that they will report Q1, 2023 results on Aug 04, 2022 Reported Earnings • Jun 23
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥264 (up from JP¥92.82 in FY 2021). Revenue: JP¥70.8b (up 31% from FY 2021). Net income: JP¥7.90b (up 182% from FY 2021). Profit margin: 11% (up from 5.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 9.1%, compared to a 8.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥2,690, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electrical industry in Japan. Total returns to shareholders of 52% over the past three years. Reported Earnings • May 16
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥264 (up from JP¥92.82 in FY 2021). Revenue: JP¥70.8b (up 31% from FY 2021). Net income: JP¥7.90b (up 182% from FY 2021). Profit margin: 11% (up from 5.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 9.1%, 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 34% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 15
IDEC Corporation, Annual General Meeting, Jun 17, 2022 IDEC Corporation, Annual General Meeting, Jun 17, 2022. Price Target Changed • Apr 27
Price target increased to JP¥3,000 Up from JP¥1,900, the current price target is provided by 1 analyst. New target price is 36% above last closing price of JP¥2,200. Stock is up 31% over the past year. The company is forecast to post earnings per share of JP¥210 for next year compared to JP¥92.82 last year. Announcement • Apr 08
IDEC Corporation to Report Fiscal Year 2022 Results on May 13, 2022 IDEC Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.7%). Announcement • Feb 16
IDEC Corporation (TSE:6652) announces an Equity Buyback for 1,000,000 shares, representing 3.33% for ¥2,500 million. IDEC Corporation (TSE:6652) announces a share repurchase program. Under the program, the company will repurchase 1,000,000 shares, representing 3.33% of its share capital, for ¥2,500 million. The company will repurchase its shares in order to improve capital efficiency and implement a flexible capital policy in response to changes in the business environment. The program will run until June 30, 2022. As of January 31, 2022, the company had 30,006,603 shares outstanding (excluding treasury shares) and 3,217,882 shares in treasury. Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥59.23 (up from JP¥16.62 in 3Q 2021). Revenue: JP¥17.4b (up 27% from 3Q 2021). Net income: JP¥1.78b (up 256% from 3Q 2021). Profit margin: 10% (up from 3.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 11%, compared to a 6.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
IDEC Corporation Revises Earnings Guidance for the Full Year 2022 IDEC Corporation revised earnings guidance for the full year 2022. For the period, the company expects the net sales to be JPY 69,000 million, operating income to be JPY 9,200 million, net income attributable to shareholders of the parent company JPY 6,900 million, earnings per share(EPS) (before diluting) JPY 230.04. Reported Earnings • Nov 04
Second quarter 2022 earnings released: EPS JP¥57.58 (vs JP¥17.26 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥17.6b (up 40% from 2Q 2021). Net income: JP¥1.73b (up 232% from 2Q 2021). Profit margin: 9.8% (up from 4.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 25 November 2021. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Major Estimate Revision • Aug 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥110 to JP¥133. Revenue forecast unchanged at JP¥60.2b. Net income forecast to grow 43% next year vs 18% growth forecast for Electrical industry in Japan. Consensus price target of JP¥1,900 unchanged from last update. Share price rose 5.8% to JP¥2,276 over the past week. Reported Earnings • Jun 26
Full year 2021 earnings released: EPS JP¥92.82 (vs JP¥95.18 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥54.0b (down 7.5% from FY 2020). Net income: JP¥2.80b (down 6.8% from FY 2020). Profit margin: 5.2% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,977, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electrical industry in Japan. Total loss to shareholders of 23% over the past three years. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥92.82 (vs JP¥95.18 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥54.0b (down 7.5% from FY 2020). Net income: JP¥2.80b (down 6.8% from FY 2020). Profit margin: 5.2% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 07
Consensus EPS estimates increase to JP¥90.02 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from JP¥52.1b to JP¥54.3b. EPS estimate increased from JP¥76.68 to JP¥90.02 per share. Net income forecast to grow 61% next year vs 15% growth forecast for Electrical industry in Japan. Consensus price target of JP¥1,900 unchanged from last update. Share price was steady at JP¥1,694 over the past week. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 08 June 2021. Trailing yield: 2.8%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.2%).