Reported Earnings • Jun 15
First quarter 2027 earnings released: EPS: JP¥5.17 (vs JP¥8.66 in 1Q 2026) First quarter 2027 results: EPS: JP¥5.17 (down from JP¥8.66 in 1Q 2026). Revenue: JP¥1.98b (down 1.3% from 1Q 2026). Net income: JP¥27.0m (down 40% from 1Q 2026). Profit margin: 1.4% (down from 2.2% in 1Q 2026). 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. New Risk • Mar 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 56% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (JP¥4.25b market cap, or US$26.7m). Reported Earnings • Mar 14
Full year 2026 earnings released: EPS: JP¥20.36 (vs JP¥6.35 in FY 2025) Full year 2026 results: EPS: JP¥20.36 (up from JP¥6.35 in FY 2025). Revenue: JP¥8.19b (up 3.2% from FY 2025). Net income: JP¥106.0m (up 221% from FY 2025). Profit margin: 1.3% (up from 0.4% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 13
OSG Corporation Co., Ltd., Annual General Meeting, Apr 28, 2026 OSG Corporation Co., Ltd., Annual General Meeting, Apr 28, 2026. Upcoming Dividend • Jan 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 January 2026. Payment date: 28 April 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.6%). Reported Earnings • Dec 16
Third quarter 2026 earnings released: JP¥20.33 loss per share (vs JP¥1.16 loss in 3Q 2025) Third quarter 2026 results: JP¥20.33 loss per share (further deteriorated from JP¥1.16 loss in 3Q 2025). Revenue: JP¥1.97b (up 4.3% from 3Q 2025). Net loss: JP¥106.0m (loss widened JP¥100.0m from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • Dec 13
OSG Corporation Co., Ltd. to Report Q3, 2026 Results on Dec 12, 2025 OSG Corporation Co., Ltd. announced that they will report Q3, 2026 results on Dec 12, 2025 Reported Earnings • Sep 12
Second quarter 2026 earnings released: EPS: JP¥15.00 (vs JP¥17.71 in 2Q 2025) Second quarter 2026 results: EPS: JP¥15.00 (down from JP¥17.71 in 2Q 2025). Revenue: JP¥2.16b (flat on 2Q 2025). Net income: JP¥78.0m (down 15% from 2Q 2025). Profit margin: 3.6% (down from 4.3% in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Aug 02
OSG Corporation Co., Ltd. to Report Q2, 2026 Results on Sep 11, 2025 OSG Corporation Co., Ltd. announced that they will report Q2, 2026 results on Sep 11, 2025 Reported Earnings • Jun 16
First quarter 2026 earnings released: EPS: JP¥8.66 (vs JP¥2.31 in 1Q 2025) First quarter 2026 results: EPS: JP¥8.66 (up from JP¥2.31 in 1Q 2025). Revenue: JP¥2.01b (up 4.6% from 1Q 2025). Net income: JP¥45.0m (up 275% from 1Q 2025). Profit margin: 2.2% (up from 0.6% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • May 07
OSG Corporation Co., Ltd. to Report Q1, 2026 Results on Jun 13, 2025 OSG Corporation Co., Ltd. announced that they will report Q1, 2026 results on Jun 13, 2025 Reported Earnings • May 02
Full year 2025 earnings released: EPS: JP¥6.35 (vs JP¥9.43 in FY 2024) Full year 2025 results: EPS: JP¥6.35 (down from JP¥9.43 in FY 2024). Revenue: JP¥7.93b (flat on FY 2024). Net income: JP¥33.0m (down 33% from FY 2024). Profit margin: 0.4% (down from 0.6% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: JP¥6.35 (vs JP¥9.43 in FY 2024) Full year 2025 results: EPS: JP¥6.35 (down from JP¥9.43 in FY 2024). Revenue: JP¥7.93b (flat on FY 2024). Net income: JP¥33.0m (down 33% from FY 2024). Profit margin: 0.4% (down from 0.6% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
OSG Corporation Co., Ltd., Annual General Meeting, Apr 25, 2025 OSG Corporation Co., Ltd., Annual General Meeting, Apr 25, 2025. Announcement • Feb 08
OSG Corporation Co., Ltd. to Report Fiscal Year 2025 Results on Mar 14, 2025 OSG Corporation Co., Ltd. announced that they will report fiscal year 2025 results on Mar 14, 2025 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥815, the stock trades at a trailing P/E ratio of 77x. Average trailing P/E is 12x in the Machinery industry in Japan. Total loss to shareholders of 11% over the past three years. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 378% Dividend per share is over 5x cash flows per share. Earnings have declined by 27% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥4.63b market cap, or US$29.9m). Upcoming Dividend • Jan 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 January 2025. Payment date: 30 April 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.2%). Reported Earnings • Dec 13
Third quarter 2025 earnings released: JP¥1.16 loss per share (vs JP¥3.85 loss in 3Q 2024) Third quarter 2025 results: JP¥1.16 loss per share (improved from JP¥3.85 loss in 3Q 2024). Revenue: JP¥1.89b (down 2.3% from 3Q 2024). Net loss: JP¥6.00m (loss narrowed 70% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Announcement • Nov 02
OSG Corporation Co., Ltd. to Report Q3, 2025 Results on Dec 12, 2024 OSG Corporation Co., Ltd. announced that they will report Q3, 2025 results on Dec 12, 2024 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 Market cap is less than US$100m (JP¥3.94b market cap, or US$28.0m). Reported Earnings • Sep 11
Second quarter 2025 earnings released: EPS: JP¥17.71 (vs JP¥19.44 in 2Q 2024) Second quarter 2025 results: EPS: JP¥17.71 (down from JP¥19.44 in 2Q 2024). Revenue: JP¥2.16b (up 2.7% from 2Q 2024). Net income: JP¥92.0m (down 8.9% from 2Q 2024). Profit margin: 4.3% (down from 4.8% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • Aug 04
OSG Corporation Co., Ltd. to Report Q2, 2025 Results on Sep 10, 2024 OSG Corporation Co., Ltd. announced that they will report Q2, 2025 results on Sep 10, 2024 Buy Or Sell Opportunity • Jul 11
Now 20% overvalued Over the last 90 days, the stock has fallen 2.7% to JP¥877. The fair value is estimated to be JP¥729, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 72%. Buy Or Sell Opportunity • Jul 01
Now 21% overvalued Over the last 90 days, the stock has fallen 4.0% to JP¥871. The fair value is estimated to be JP¥718, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 72%. Buy Or Sell Opportunity • Jun 24
Now 20% overvalued Over the last 90 days, the stock has fallen 3.8% to JP¥863. The fair value is estimated to be JP¥716, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 72%. Reported Earnings • Jun 19
First quarter 2025 earnings released: EPS: JP¥2.31 (vs JP¥2.12 in 1Q 2024) First quarter 2025 results: EPS: JP¥2.31 (up from JP¥2.12 in 1Q 2024). Revenue: JP¥1.92b (up 4.1% from 1Q 2024). Net income: JP¥12.0m (up 9.1% from 1Q 2024). Profit margin: 0.6% (in line with 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 17
First quarter 2025 earnings released: EPS: JP¥2.31 (vs JP¥2.12 in 1Q 2024) First quarter 2025 results: EPS: JP¥2.31 (up from JP¥2.12 in 1Q 2024). Revenue: JP¥1.92b (up 4.1% from 1Q 2024). Net income: JP¥12.0m (up 9.1% from 1Q 2024). Profit margin: 0.6% (in line with 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. New Risk • Jun 15
New major risk - Revenue and earnings growth Earnings have declined by 2.2% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 2.2% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (424% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (JP¥4.43b market cap, or US$28.1m). Announcement • May 05
OSG Corporation Co., Ltd. to Report Q1, 2025 Results on Jun 11, 2024 OSG Corporation Co., Ltd. announced that they will report Q1, 2025 results on Jun 11, 2024 Reported Earnings • May 04
Full year 2024 earnings released: EPS: JP¥9.43 (vs JP¥38.11 in FY 2023) Full year 2024 results: EPS: JP¥9.43 (down from JP¥38.11 in FY 2023). Revenue: JP¥7.90b (down 2.8% from FY 2023). Net income: JP¥49.0m (down 75% from FY 2023). Profit margin: 0.6% (down from 2.4% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Mar 17
OSG Corporation Co., Ltd., Annual General Meeting, Apr 26, 2024 OSG Corporation Co., Ltd., Annual General Meeting, Apr 26, 2024. Reported Earnings • Mar 17
Full year 2024 earnings released: EPS: JP¥9.43 (vs JP¥38.11 in FY 2023) Full year 2024 results: EPS: JP¥9.43 (down from JP¥38.11 in FY 2023). Revenue: JP¥7.90b (down 2.8% from FY 2023). Net income: JP¥49.0m (down 75% from FY 2023). Profit margin: 0.6% (down from 2.4% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Feb 08
OSG Corporation Co., Ltd. to Report Fiscal Year 2024 Results on Mar 15, 2024 OSG Corporation Co., Ltd. announced that they will report fiscal year 2024 results on Mar 15, 2024 Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥972, the stock trades at a trailing P/E ratio of 72.1x. Average trailing P/E is 13x in the Machinery industry in Japan. Total loss to shareholders of 40% over the past three years. New Risk • Jan 30
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 Dividend is not well covered by earnings and cash flows. Payout ratio: 297% Cash payout ratio: 107% Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (JP¥5.65b market cap, or US$38.3m). Upcoming Dividend • Jan 23
Upcoming dividend of JP¥40.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 30 April 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Reported Earnings • Dec 12
Third quarter 2024 earnings released: JP¥3.85 loss per share (vs JP¥9.63 profit in 3Q 2023) Third quarter 2024 results: JP¥3.85 loss per share (down from JP¥9.63 profit in 3Q 2023). Revenue: JP¥1.93b (down 2.7% from 3Q 2023). Net loss: JP¥20.0m (down 140% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Nov 04
OSG Corporation Co., Ltd. to Report Q3, 2024 Results on Dec 08, 2023 OSG Corporation Co., Ltd. announced that they will report Q3, 2024 results on Dec 08, 2023 Reported Earnings • Sep 11
Second quarter 2024 earnings released: EPS: JP¥19.44 (vs JP¥24.64 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.44 (down from JP¥24.64 in 2Q 2023). Revenue: JP¥2.11b (down 1.7% from 2Q 2023). Net income: JP¥101.0m (down 21% from 2Q 2023). Profit margin: 4.8% (down from 6.0% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Announcement • Aug 06
OSG Corporation Co., Ltd. to Report Q2, 2024 Results on Sep 08, 2023 OSG Corporation Co., Ltd. announced that they will report Q2, 2024 results on Sep 08, 2023 Reported Earnings • Jun 11
First quarter 2024 earnings released: EPS: JP¥2.12 (vs JP¥8.09 in 1Q 2023) First quarter 2024 results: EPS: JP¥2.12 (down from JP¥8.09 in 1Q 2023). Revenue: JP¥1.85b (down 7.8% from 1Q 2023). Net income: JP¥11.0m (down 74% from 1Q 2023). Profit margin: 0.6% (down from 2.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • May 04
OSG Corporation Co., Ltd. to Report Q1, 2024 Results on Jun 09, 2023 OSG Corporation Co., Ltd. announced that they will report Q1, 2024 results on Jun 09, 2023 Reported Earnings • May 03
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥38.11 (down from JP¥123 in FY 2022). Revenue: JP¥8.13b (down 18% from FY 2022). Net income: JP¥198.0m (down 69% from FY 2022). Profit margin: 2.4% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 11
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥38.11 (down from JP¥123 in FY 2022). Revenue: JP¥8.13b (down 18% from FY 2022). Net income: JP¥198.0m (down 69% from FY 2022). Profit margin: 2.4% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Machinery industry in Japan. 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 7% per year. Announcement • Feb 08
OSG Corporation Co., Ltd. to Report Fiscal Year 2023 Results on Mar 10, 2023 OSG Corporation Co., Ltd. announced that they will report fiscal year 2023 results on Mar 10, 2023 Upcoming Dividend • Jan 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 January 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.5%). Reported Earnings • Dec 11
Third quarter 2023 earnings released: EPS: JP¥9.63 (vs JP¥26.18 in 3Q 2022) Third quarter 2023 results: EPS: JP¥9.63 (down from JP¥26.18 in 3Q 2022). Revenue: JP¥1.99b (down 14% from 3Q 2022). Net income: JP¥50.0m (down 63% from 3Q 2022). Profit margin: 2.5% (down from 5.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery 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 fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Toshihiko Nara was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 11
OSG Corporation Co., Ltd. to Report Q3, 2023 Results on Dec 09, 2022 OSG Corporation Co., Ltd. announced that they will report Q3, 2023 results on Dec 09, 2022 Reported Earnings • Sep 11
Second quarter 2023 earnings released: EPS: JP¥24.64 (vs JP¥44.47 in 2Q 2022) Second quarter 2023 results: EPS: JP¥24.64 (down from JP¥44.47 in 2Q 2022). Revenue: JP¥2.14b (down 18% from 2Q 2022). Net income: JP¥128.0m (down 45% from 2Q 2022). Profit margin: 6.0% (down from 8.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Japan. 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 2% per year, which means it is significantly lagging earnings. Announcement • Aug 07
OSG Corporation Co., Ltd. to Report Q2, 2023 Results on Sep 09, 2022 OSG Corporation Co., Ltd. announced that they will report Q2, 2023 results on Sep 09, 2022 Reported Earnings • Jun 13
First quarter 2023 earnings released: EPS: JP¥8.09 (vs JP¥33.30 in 1Q 2022) First quarter 2023 results: EPS: JP¥8.09 (down from JP¥33.30 in 1Q 2022). Revenue: JP¥2.00b (down 22% from 1Q 2022). Net income: JP¥42.0m (down 76% from 1Q 2022). Profit margin: 2.1% (down from 6.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 13%, compared to a 9.0% growth forecast for the 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 9% per year, which means it is significantly lagging earnings growth. Announcement • May 08
OSG Corporation Co., Ltd. to Report Q1, 2023 Results on Jun 10, 2022 OSG Corporation Co., Ltd. announced that they will report Q1, 2023 results on Jun 10, 2022 Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Toshihiko Nara was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
OSG Corporation Co., Ltd., Annual General Meeting, Apr 27, 2022 OSG Corporation Co., Ltd., Annual General Meeting, Apr 27, 2022. Reported Earnings • Mar 13
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥123 (up from JP¥118 in FY 2021). Revenue: JP¥9.87b (down 3.6% from FY 2021). Net income: JP¥638.0m (up 9.4% from FY 2021). Profit margin: 6.5% (up from 5.7% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 11%, compared to a 8.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
OSG Corporation Co., Ltd. to Report Fiscal Year 2022 Results on Mar 11, 2022 OSG Corporation Co., Ltd. announced that they will report fiscal year 2022 results on Mar 11, 2022 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥1,048, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Machinery industry in Japan. Total returns to shareholders of 57% over the past three years. Upcoming Dividend • Jan 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 January 2022. Payment date: 28 April 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,182, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,047, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 64% over the past three years. Reported Earnings • Dec 14
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥26.18 (up from JP¥24.84 in 3Q 2021). Revenue: JP¥2.31b (down 9.4% from 3Q 2021). Net income: JP¥136.0m (up 12% from 3Q 2021). Profit margin: 5.9% (up from 4.8% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Earnings per share (EPS) surpassed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 24%, compared to a 9.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 15
Second quarter 2022 earnings released: EPS JP¥44.47 (vs JP¥42.57 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¥2.61b (down 2.3% from 2Q 2021). Net income: JP¥231.0m (up 13% from 2Q 2021). Profit margin: 8.9% (up from 7.7% in 2Q 2021). The increase in margin was driven by lower expenses. 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 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 12
First quarter 2022 earnings released: EPS JP¥33.30 (vs JP¥29.28 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥2.55b (up 2.2% from 1Q 2021). Net income: JP¥173.0m (up 23% from 1Q 2021). Profit margin: 6.8% (up from 5.6% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
Full year 2021 earnings released: EPS JP¥118 (vs JP¥56.27 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥10.2b (up 22% from FY 2020). Net income: JP¥583.0m (up 115% from FY 2020). Profit margin: 5.7% (up from 3.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Mar 13
OSG Corporation Co., Ltd., Annual General Meeting, Apr 27, 2021 OSG Corporation Co., Ltd., Annual General Meeting, Apr 27, 2021. Analyst Estimate Surprise Post Earnings • Mar 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 9.4%, compared to a 10% growth forecast for the Machinery industry in Japan. Reported Earnings • Mar 12
Full year 2021 earnings released: EPS JP¥118 (vs JP¥56.27 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥10.2b (up 22% from FY 2020). Net income: JP¥583.0m (up 115% from FY 2020). Profit margin: 5.7% (up from 3.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
OSG Corporation Co., Ltd. to Report Fiscal Year 2021 Results on Mar 11, 2021 OSG Corporation Co., Ltd. announced that they will report fiscal year 2021 results on Mar 11, 2021 Reported Earnings • Dec 11
Third quarter 2021 earnings released: EPS JP¥24.84 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥2.55b (up 20% from 3Q 2020). Net income: JP¥122.0m (up 135% from 3Q 2020). Profit margin: 4.8% (up from 2.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Dec 11
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 3.2%, compared to a 6.2% growth forecast for the Machinery industry in Japan. Is New 90 Day High Low • Dec 11
New 90-day low: JP¥1,617 The company is down 30% from its price of JP¥2,323 on 11 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 15% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: JP¥1,667 The company is down 3.0% from its price of JP¥1,727 on 31 July 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 13% over the same period. Announcement • Jul 18
OSG Corporation Co., Ltd. to Report Q2, 2021 Results on Sep 08, 2020 OSG Corporation Co., Ltd. announced that they will report Q2, 2021 results on Sep 08, 2020