Announcement • Jun 03
Nireco Corporation to Report Q1, 2027 Results on Aug 07, 2026 Nireco Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 18
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥197 (down from JP¥211 in FY 2025). Revenue: JP¥11.0b (up 2.5% from FY 2025). Net income: JP¥1.44b (down 7.7% from FY 2025). Profit margin: 13% (down from 14% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
Nireco Corporation, Annual General Meeting, Jun 25, 2026 Nireco Corporation, Annual General Meeting, Jun 25, 2026. Announcement • May 10
Nireco Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Nireco Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 10 June 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.5b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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. Market cap is less than US$100m (JP¥15.5b market cap, or US$97.7m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥43.96 (vs JP¥62.45 in 3Q 2025) Third quarter 2026 results: EPS: JP¥43.96 (down from JP¥62.45 in 3Q 2025). Revenue: JP¥2.60b (down 2.5% from 3Q 2025). Net income: JP¥322.0m (down 31% from 3Q 2025). Profit margin: 12% (down from 17% in 3Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 26
Nireco Corporation to Report Q3, 2026 Results on Feb 13, 2026 Nireco Corporation announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: JP¥53.53 (vs JP¥46.47 in 2Q 2025) Second quarter 2026 results: EPS: JP¥53.53 (up from JP¥46.47 in 2Q 2025). Revenue: JP¥2.77b (up 9.9% from 2Q 2025). Net income: JP¥397.0m (up 15% from 2Q 2025). Profit margin: 14% (in line with 2Q 2025). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Sep 26
Nireco Corporation to Report Q2, 2026 Results on Nov 13, 2025 Nireco Corporation announced that they will report Q2, 2026 results on Nov 13, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Buy Or Sell Opportunity • Aug 11
Now 21% undervalued Over the last 90 days, the stock has risen 27% to JP¥2,056. The fair value is estimated to be JP¥2,615, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 8.6% in the next 2 years. Announcement • Jun 26
Nireco Corporation to Report Q1, 2026 Results on Aug 08, 2025 Nireco Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • Jun 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥211 (up from JP¥137 in FY 2024). Revenue: JP¥10.8b (up 9.1% from FY 2024). Net income: JP¥1.56b (up 55% from FY 2024). Profit margin: 14% (up from 10% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery 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 29% per year, which means it is significantly lagging earnings growth. New Risk • May 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% 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 0.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥12.6b market cap, or US$86.7m). Reported Earnings • May 19
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥211 (up from JP¥137 in FY 2024). Revenue: JP¥10.8b (up 9.1% from FY 2024). Net income: JP¥1.56b (up 55% from FY 2024). Profit margin: 14% (up from 10% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 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 37% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Nireco Corporation (TSE:6863) announces an Equity Buyback for 300,000 shares, representing 4.05% for ¥500 million. Nireco Corporation (JASDAQ:6863) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 4.05% of the outstanding shares for ¥500 million. The purpose of the program is to improve capital efficiency. The program will run until October 31, 2025. As of May 14, 2025, the company had 7,412,482 shares outstanding and 337,67T shares in treasury. Announcement • May 14
Nireco Corporation, Annual General Meeting, Jun 24, 2025 Nireco Corporation, Annual General Meeting, Jun 24, 2025. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 20x cash flows per share). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (JP¥10.3b market cap, or US$70.3m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,386, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 92% over the past three years. Announcement • Mar 27
Nireco Corporation to Report Fiscal Year 2025 Results on May 14, 2025 Nireco Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 10 June 2025. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥62.45 (vs JP¥54.90 in 3Q 2024) Third quarter 2025 results: EPS: JP¥62.45 (up from JP¥54.90 in 3Q 2024). Revenue: JP¥2.66b (up 6.1% from 3Q 2024). Net income: JP¥463.0m (up 14% from 3Q 2024). Profit margin: 17% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jan 03
Nireco Corporation to Report Q3, 2025 Results on Feb 06, 2025 Nireco Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 20
Second quarter 2025 earnings released: EPS: JP¥46.47 (vs JP¥33.67 in 2Q 2024) Second quarter 2025 results: EPS: JP¥46.47 (up from JP¥33.67 in 2Q 2024). Revenue: JP¥2.52b (up 3.1% from 2Q 2024). Net income: JP¥344.0m (up 39% from 2Q 2024). Profit margin: 14% (up from 10% in 2Q 2024). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Sep 25
Nireco Corporation to Report Q2, 2025 Results on Nov 13, 2024 Nireco Corporation announced that they will report Q2, 2025 results on Nov 13, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥27.93 (vs JP¥16.65 in 1Q 2024) First quarter 2025 results: EPS: JP¥27.93 (up from JP¥16.65 in 1Q 2024). Revenue: JP¥2.39b (up 14% from 1Q 2024). Net income: JP¥206.0m (up 69% from 1Q 2024). Profit margin: 8.6% (up from 5.8% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risks Dividend is not well covered by cash flows (139% cash payout ratio). Market cap is less than US$100m (JP¥7.39b market cap, or US$51.9m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to JP¥1,002, 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 25% over the past three years. Buy Or Sell Opportunity • Jul 29
Now 21% overvalued Over the last 90 days, the stock has fallen 23% to JP¥1,407. The fair value is estimated to be JP¥1,165, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 40%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Jun 23
Nireco Corporation to Report Q1, 2025 Results on Aug 09, 2024 Nireco Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥137 (up from JP¥117 in FY 2023). Revenue: JP¥9.86b (up 7.7% from FY 2023). Net income: JP¥1.01b (up 18% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 1.3%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Nireco Corporation, Annual General Meeting, Jun 25, 2024 Nireco Corporation, Annual General Meeting, Jun 25, 2024. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,524, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 88% over the past three years. Announcement • Mar 28
Nireco Corporation to Report Fiscal Year 2024 Results on May 14, 2024 Nireco Corporation announced that they will report fiscal year 2024 results on May 14, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥2,003, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 13x in the Machinery industry in Japan. Total returns to shareholders of 139% over the past three years. New Risk • Mar 04
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 6.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (JP¥13.6b market cap, or US$90.7m). Buy Or Sell Opportunity • Feb 15
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to JP¥1,699. The fair value is estimated to be JP¥1,294, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 35%. Announcement • Dec 28
Nireco Corporation to Report Q3, 2024 Results on Feb 13, 2024 Nireco Corporation announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥33.67 (vs JP¥29.20 in 2Q 2023) Second quarter 2024 results: EPS: JP¥33.67 (up from JP¥29.20 in 2Q 2023). Revenue: JP¥2.44b (up 9.4% from 2Q 2023). Net income: JP¥248.0m (up 16% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is forecast to grow 8.5% 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 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 14 December 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.1%). Announcement • Aug 27
Nireco Corporation to Report Q2, 2024 Results on Nov 10, 2023 Nireco Corporation announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥16.65 (vs JP¥7.37 in 1Q 2023) First quarter 2024 results: EPS: JP¥16.65 (up from JP¥7.37 in 1Q 2023). Revenue: JP¥2.09b (up 18% from 1Q 2023). Net income: JP¥122.0m (up 126% from 1Q 2023). Profit margin: 5.8% (up from 3.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery 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 15% per year. Announcement • Jun 28
Nireco Corporation to Report Q1, 2024 Results on Aug 09, 2023 Nireco Corporation announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥117 (up from JP¥55.40 in FY 2022). Revenue: JP¥9.16b (up 13% from FY 2022). Net income: JP¥860.0m (up 112% from FY 2022). Profit margin: 9.4% (up from 5.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥22.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: JP¥31.51 (vs JP¥14.19 in 3Q 2022) Third quarter 2023 results: EPS: JP¥31.51 (up from JP¥14.19 in 3Q 2022). Revenue: JP¥2.35b (up 17% from 3Q 2022). Net income: JP¥231.0m (up 122% from 3Q 2022). Profit margin: 9.8% (up from 5.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jan 06
Nireco Corporation to Report Q3, 2023 Results on Feb 13, 2023 Nireco Corporation announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: JP¥29.19 (vs JP¥26.47 in 2Q 2022) Second quarter 2023 results: EPS: JP¥29.19 (up from JP¥26.47 in 2Q 2022). Revenue: JP¥2.23b (up 3.3% from 2Q 2022). Net income: JP¥214.0m (up 10% from 2Q 2022). Profit margin: 9.6% (in line with 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Japan. Over the last 3 years on average, earnings per share has fallen by 14% 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. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Executive Officer, GM of Process Business Division & Director Makoto Miura was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 28
Nireco Corporation to Report Q2, 2023 Results on Nov 14, 2022 Nireco Corporation announced that they will report Q2, 2023 results on Nov 14, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 14 December 2022. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.4%). Announcement • Aug 23
Nireco Announces New Electrode Sheet Inspection System Mujiken-RB Nireco Corporation has developed a new electrode sheet inspection system, the Mujiken-RB, that enables inspection and measurement on production lines for positive and negative electrode materials of rechargeable batteries. Based on rising global concern for the environment, demand for rechargeable batteries for electric vehicles and other applications has dramatically increased, leading to a continuing expansion of production systems for these batteries. The newly developed Mujiken-RB enables improved high-speed and high-definition inspection and measurement over existing inspection systems by employing an exclusive high-speed camera and high-speed image processing engine to improve inspection efficiency in electrode sheet production lines. the production of cathode and anode materials, which are key components of rechargeable batteries, inspection machines with high speed and accuracy are needed to insure the high reliability of these materials in end products. The Mujiken-RB is the latest electrode sheet inspection system in Nireco’s Mujiken series, which was launched in 2009 and has a proven track record of delivering inspection systems that meet customer needs for improved production efficiency. It includes the functions of an existing Nireco system, the e-FlexEye-RB2, such as inspection of coated and non-coated area defects of coating patterns and simultaneous inspection of front and back surfaces, while also incorporating a new type of image processing board and a new type of camera. The new board and camera enable up to nearly four times faster line speed and up to four times higher resolution inspection at current line speeds compared with the e-FlexEye-RB2. Also, the measuring function achieves higher accuracy and has both the productivity and accuracy required for electrode sheet production lines. Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: JP¥7.37 (vs JP¥1.64 loss in 1Q 2022) First quarter 2023 results: EPS: JP¥7.37 (up from JP¥1.64 loss in 1Q 2022). Revenue: JP¥1.77b (down 4.6% from 1Q 2022). Net income: JP¥54.0m (up JP¥66.0m from 1Q 2022). Profit margin: 3.1% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 22%, compared to a 9.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Executive Officer, GM of Process Business Division & Director Makoto Miura was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Executive Officer, GM of Process Business Division & Director Makoto Miura was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 29
Nireco Corporation to Report Q1, 2023 Results on Aug 08, 2022 Nireco Corporation announced that they will report Q1, 2023 results on Aug 08, 2022 Announcement • May 18
Nireco Corporation, Annual General Meeting, Jun 24, 2022 Nireco Corporation, Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Outside Director Mitsuo Hashimoto was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Nireco Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Nireco Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 09 June 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.0%). Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: JP¥14.19 (up from JP¥6.69 in 3Q 2021). Revenue: JP¥2.01b (up 1.1% from 3Q 2021). Net income: JP¥104.0m (up 112% from 3Q 2021). Profit margin: 5.2% (up from 2.5% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 15%, compared to a 8.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS JP¥26.47 (vs JP¥21.42 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥2.16b (up 13% from 2Q 2021). Net income: JP¥194.0m (up 24% from 2Q 2021). Profit margin: 9.0% (up from 8.2% 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 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 15
First quarter 2022 earnings released: JP¥1.64 loss per share (vs JP¥7.53 profit in 1Q 2021) The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: JP¥1.86b (up 9.3% from 1Q 2021). Net loss: JP¥12.0m (down 122% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Jun 30
Full year 2021 earnings released: EPS JP¥58.99 (vs JP¥107 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥7.90b (down 10.0% from FY 2020). Net income: JP¥432.0m (down 45% from FY 2020). Profit margin: 5.5% (down from 8.9% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 29
Nireco Corporation (JASDAQ:6863) agreed to acquire Seibu Electric Corporation. Nireco Corporation (JASDAQ:6863) signed a share transfer agreement to acquire Seibu Electric Corporation on May 24, 2021. Upon completion, Seibu Electric Corporation will operate as a subsidiary of Nireco Corporation. Seibu Electric Corporation reported total revenues of ¥449 million and operating income of ¥35 million as of July 2020. The transaction is resolved by the Board of Nireco Corporation. The transaction is expected to close on June 10, 2021. The impact of this matter on our consolidated financial results for the fiscal year ending March 2022 will be minor. Reported Earnings • May 20
Full year 2021 earnings released: EPS JP¥58.99 (vs JP¥107 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥7.90b (down 10.0% from FY 2020). Net income: JP¥432.0m (down 45% from FY 2020). Profit margin: 5.5% (down from 8.9% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥888, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Machinery industry in Japan. Total loss to shareholders of 21% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 10 June 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,013, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 11x. This compares to an average P/E of 16x in the Machinery industry in Japan. Total return to shareholders over the past three years is a loss of 1.1%. Is New 90 Day High Low • Mar 08
New 90-day high: JP¥1,013 The company is up 17% from its price of JP¥867 on 08 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 7.0% over the same period. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS JP¥6.68 (vs JP¥20.67 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥1.99b (up 9.1% from 3Q 2020). Net income: JP¥49.0m (down 68% from 3Q 2020). Profit margin: 2.5% (down from 8.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥916 The company is up 19% from its price of JP¥772 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 16% over the same period. Announcement • Jan 07
Nireco Corporation to Report Q3, 2021 Results on Feb 08, 2021 Nireco Corporation announced that they will report Q3, 2021 results on Feb 08, 2021 Is New 90 Day High Low • Dec 07
New 90-day high: JP¥862 The company is up 12% from its price of JP¥771 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 16% over the same period. Analyst Estimate Surprise Post Earnings • Nov 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.8%. Earnings per share (EPS) exceeded analyst estimates by 42%. Over the next year, revenue is forecast to stay flat compared to a 3.7% growth forecast for the Machinery industry in Japan. Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS JP¥21.42 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥1.92b (down 7.2% from 2Q 2020). Net income: JP¥157.0m (up 52% from 2Q 2020). Profit margin: 8.2% (up from 5.0% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Oct 10
Nireco Corporation to Report Q2, 2021 Results on Nov 09, 2020 Nireco Corporation announced that they will report Q2, 2021 results on Nov 09, 2020 Is New 90 Day High Low • Oct 06
New 90-day high: JP¥817 The company is up 3.0% from its price of JP¥794 on 08 July 2020. The Japanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. Upcoming Dividend • Sep 22
Upcoming Dividend of JP¥10.00 Per Share Will be paid on the 9th of December to those who are registered shareholders by the 29th of September. The trailing yield of 3.0% is below the top quartile of Japanese dividend payers (3.1%), but it is higher than industry peers (1.7%).