Reported Earnings • May 01
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: JP¥294 (down from JP¥325 in FY 2025). Revenue: JP¥55.5b (up 3.2% from FY 2025). Net income: JP¥4.34b (down 9.5% from FY 2025). Profit margin: 7.8% (down from 8.9% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 01
ENDO Lighting Corporation, Annual General Meeting, Jun 25, 2026 ENDO Lighting Corporation, Annual General Meeting, Jun 25, 2026. Announcement • Apr 21
ENDO Lighting Corporation to Report Fiscal Year 2026 Results on Apr 30, 2026 ENDO Lighting Corporation announced that they will report fiscal year 2026 results on Apr 30, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Buy Or Sell Opportunity • Mar 09
Now 22% undervalued Over the last 90 days, the stock has risen 27% to JP¥2,755. The fair value is estimated to be JP¥3,511, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 8.9% in 2 years. Earnings are forecast to decline by 11% in the next 2 years. Buy Or Sell Opportunity • Feb 13
Now 21% undervalued Over the last 90 days, the stock has risen 28% to JP¥2,764. The fair value is estimated to be JP¥3,479, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 8.9% in 2 years. Earnings are forecast to decline by 11% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥2,914, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Electrical industry in Japan. Total returns to shareholders of 334% over the past three years. Board Change • Feb 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 3 highly experienced directors. President & Representative Director Kunihiko Endo is the most experienced director on the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥74.41 (vs JP¥59.42 in 3Q 2025) Third quarter 2026 results: EPS: JP¥74.41 (up from JP¥59.42 in 3Q 2025). Revenue: JP¥14.3b (up 3.3% from 3Q 2025). Net income: JP¥1.10b (up 25% from 3Q 2025). Profit margin: 7.7% (up from 6.4% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 02
ENDO Lighting Corporation to Report Q3, 2026 Results on Jan 30, 2026 ENDO Lighting Corporation announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Dec 02
First half dividend of JP¥44.00 announced Shareholders will receive a dividend of JP¥44.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 1.9% over the next 3 years. However, it would need to fall by 90% to increase the payout ratio to a potentially unsustainable range. New Risk • Nov 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% 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 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Nov 20
ENDO Lighting Corporation announced that it has received ¥5.01995984 billion in funding from AAGS S13,L.P. On November 20, 2025, ENDO Lighting Corporation closed the transaction. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥69.89 (vs JP¥77.97 in 2Q 2025) Second quarter 2026 results: EPS: JP¥69.89 (down from JP¥77.97 in 2Q 2025). Revenue: JP¥12.6b (down 4.0% from 2Q 2025). Net income: JP¥1.03b (down 10% from 2Q 2025). Profit margin: 8.2% (down from 8.8% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Announcement • Aug 29
ENDO Lighting Corporation to Report Q2, 2026 Results on Oct 31, 2025 ENDO Lighting Corporation announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥39.53 (vs JP¥8.32 in 1Q 2025) First quarter 2026 results: EPS: JP¥39.53 (up from JP¥8.32 in 1Q 2025). Revenue: JP¥12.5b (up 6.2% from 1Q 2025). Net income: JP¥584.0m (up 375% from 1Q 2025). Profit margin: 4.7% (up from 1.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (17% earnings payout ratio) but 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 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 9.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 30
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥325 (up from JP¥315 in FY 2024). Revenue: JP¥53.7b (up 3.9% from FY 2024). Net income: JP¥4.80b (up 3.2% from FY 2024). Profit margin: 8.9% (down from 9.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 4.8% 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 increased by 17% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 31
ENDO Lighting Corporation to Report Q1, 2026 Results on Jul 31, 2025 ENDO Lighting Corporation announced that they will report Q1, 2026 results on Jul 31, 2025 Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,792, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electrical industry in Japan. Total returns to shareholders of 148% over the past three years. Reported Earnings • May 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥325 (up from JP¥315 in FY 2024). Revenue: JP¥53.7b (up 3.9% from FY 2024). Net income: JP¥4.80b (up 3.2% from FY 2024). Profit margin: 8.9% (down from 9.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Electrical 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 increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 30
ENDO Lighting Corporation, Annual General Meeting, Jun 25, 2025 ENDO Lighting Corporation, Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Announcement • Mar 04
ENDO Lighting Corporation to Report Fiscal Year 2025 Results on Apr 30, 2025 ENDO Lighting Corporation announced that they will report fiscal year 2025 results on Apr 30, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥59.42 (vs JP¥85.41 in 3Q 2024) Third quarter 2025 results: EPS: JP¥59.42 (down from JP¥85.41 in 3Q 2024). Revenue: JP¥13.8b (up 3.6% from 3Q 2024). Net income: JP¥878.0m (down 30% from 3Q 2024). Profit margin: 6.4% (down from 9.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% 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 16% per year whereas the company’s share price has increased by 11% per year. Announcement • Dec 03
ENDO Lighting Corporation to Report Q3, 2025 Results on Jan 31, 2025 ENDO Lighting Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Dec 03
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥77.96 (vs JP¥70.66 in 2Q 2024) Second quarter 2025 results: EPS: JP¥77.96 (up from JP¥70.66 in 2Q 2024). Revenue: JP¥13.2b (up 8.3% from 2Q 2024). Net income: JP¥1.15b (up 10% from 2Q 2024). Profit margin: 8.8% (up from 8.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% 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 21% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.0%). Announcement • Aug 28
ENDO Lighting Corporation to Report Q2, 2025 Results on Oct 31, 2024 ENDO Lighting Corporation announced that they will report Q2, 2025 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥1,119, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 46% over the past three years. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.1b (US$98.7m) 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: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). 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¥14.1b market cap, or US$98.7m). Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥8.32 (vs JP¥51.44 in 1Q 2024) First quarter 2025 results: EPS: JP¥8.32 (down from JP¥51.44 in 1Q 2024). Revenue: JP¥11.8b (flat on 1Q 2024). Net income: JP¥123.0m (down 84% from 1Q 2024). Profit margin: 1.0% (down from 6.5% in 1Q 2024). Revenue is forecast to grow 3.6% 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 increased by 24% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.5% 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. Share price has been volatile over the past 3 months (5.9% average weekly change). Declared Dividend • Jul 11
Final dividend increased to JP¥20.00 Dividend of JP¥20.00 is 14% higher than last year. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 4.4% over the next 3 years. However, it would need to fall by 89% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥315 (up from JP¥200 in FY 2023). Revenue: JP¥51.7b (up 13% from FY 2023). Net income: JP¥4.65b (up 57% from FY 2023). Profit margin: 9.0% (up from 6.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 3.1% 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 31% per year and the company’s share price has also increased by 31% per year. Announcement • May 01
ENDO Lighting Corporation, Annual General Meeting, Jun 26, 2024 ENDO Lighting Corporation, Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 9.7% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Announcement • Mar 02
ENDO Lighting Corporation to Report Fiscal Year 2024 Results on Apr 30, 2024 ENDO Lighting Corporation announced that they will report fiscal year 2024 results on Apr 30, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥85.41 (vs JP¥6.97 in 3Q 2023) Third quarter 2024 results: EPS: JP¥85.41 (up from JP¥6.97 in 3Q 2023). Revenue: JP¥13.3b (up 14% from 3Q 2023). Net income: JP¥1.26b (up JP¥1.16b from 3Q 2023). Profit margin: 9.5% (up from 0.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% 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 31% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 01
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 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.5% 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. Share price has been volatile over the past 3 months (5.6% average weekly change). Announcement • Feb 01
ENDO Lighting Corporation Provides Second Quarter and Fiscal End Dividend Guidance for the Fiscal Year Ending March 31, 2024 ENDO Lighting Corporation provided second quarter and fiscal end dividend guidance for the fiscal year ending March 31, 2024. For the second quarter, the company expects to pay year-end dividend of JPY 17.50 per share against JPY 15.00 per share paid for the same period a year ago.For the Fiscal year ending March 31, 2024. For the year, the company expects dividend of JPY 17.50 per share against JPY 15.00 per share paid a year ago. Announcement • Nov 29
ENDO Lighting Corporation to Report Q3, 2024 Results on Jan 31, 2024 ENDO Lighting Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥70.65 (vs JP¥41.35 in 2Q 2023) Second quarter 2024 results: EPS: JP¥70.65 (up from JP¥41.35 in 2Q 2023). Revenue: JP¥12.1b (up 9.9% from 2Q 2023). Net income: JP¥1.04b (up 71% from 2Q 2023). Profit margin: 8.6% (up from 5.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% 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 28% per year whereas the company’s share price has increased by 27% per year. New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥17.50 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.9%). Announcement • Sep 08
ENDO Lighting Corporation to Report Q2, 2024 Results on Oct 31, 2023 ENDO Lighting Corporation announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥51.43 (vs JP¥23.76 in 1Q 2023) First quarter 2024 results: EPS: JP¥51.43 (up from JP¥23.76 in 1Q 2023). Revenue: JP¥11.8b (up 16% from 1Q 2023). Net income: JP¥760.0m (up 117% from 1Q 2023). Profit margin: 6.5% (up from 3.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 27% per year. Announcement • May 31
ENDO Lighting Corporation to Report Q1, 2024 Results on Jul 31, 2023 ENDO Lighting Corporation announced that they will report Q1, 2024 results on Jul 31, 2023 Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥1,385, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 170% over the past three years. Reported Earnings • Apr 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥200 (down from JP¥225 in FY 2022). Revenue: JP¥45.7b (up 13% from FY 2022). Net income: JP¥2.96b (down 11% from FY 2022). Profit margin: 6.5% (down from 8.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 41%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 23% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥863, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electrical industry in Japan. Total returns to shareholders of 39% over the past three years. Announcement • Feb 01
ENDO Lighting Corporation Provides Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2023 ENDO Lighting Corporation provided year-end dividend guidance for the fiscal year ending March 31, 2023. For the year, the company expects to pay year-end dividend of JPY 15.00 per share against JPY 15.00 per share paid for the same period a year ago. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥6.97 (vs JP¥51.30 in 3Q 2022) Third quarter 2023 results: EPS: JP¥6.97 (down from JP¥51.30 in 3Q 2022). Revenue: JP¥11.7b (up 21% from 3Q 2022). Net income: JP¥103.0m (down 86% from 3Q 2022). Profit margin: 0.9% (down from 7.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Electrical 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 only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 09
ENDO Lighting Corporation to Report Q3, 2023 Results on Jan 31, 2023 ENDO Lighting Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: JP¥41.35 (vs JP¥31.54 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.35 (up from JP¥31.54 in 2Q 2022). Revenue: JP¥11.1b (up 14% from 2Q 2022). Net income: JP¥611.0m (up 31% from 2Q 2022). Profit margin: 5.5% (up from 4.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 3 non-independent directors. Independent External Director Ritsue Miyashita was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥41.35 (vs JP¥31.54 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.35 (up from JP¥31.54 in 2Q 2022). Revenue: JP¥11.1b (up 14% from 2Q 2022). Net income: JP¥611.0m (up 31% from 2Q 2022). Profit margin: 5.5% (up from 4.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 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 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Endo Lighting Corporation Provides Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 ENDO Lighting Corporation Provided Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023. For the period, the company expected Net sales of JPY 43,000 million, Operating profit of JPY 2,500 million, Profit attributable to owners of parent of JPY 1,900 million, Basic earnings per share of JPY 128.59. Announcement • Sep 28
ENDO Lighting Corporation to Report Q2, 2023 Results on Oct 31, 2022 ENDO Lighting Corporation announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.9%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥23.75 (vs JP¥61.45 in 1Q 2022) First quarter 2023 results: EPS: JP¥23.75 (down from JP¥61.45 in 1Q 2022). Revenue: JP¥10.1b (up 9.0% from 1Q 2022). Net income: JP¥351.0m (down 61% from 1Q 2022). Profit margin: 3.5% (down from 9.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.6%, 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 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 29
ENDO Lighting Corporation to Report Q1, 2023 Results on Jul 29, 2022 ENDO Lighting Corporation announced that they will report Q1, 2023 results on Jul 29, 2022 Announcement • May 02
ENDO Lighting Corporation, Annual General Meeting, Jun 28, 2022 ENDO Lighting Corporation, Annual General Meeting, Jun 28, 2022. Agenda: AGM. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥225 (up from JP¥86.42 in FY 2021). Revenue: JP¥40.6b (up 15% from FY 2021). Net income: JP¥3.33b (up 161% from FY 2021). Profit margin: 8.2% (up from 3.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Over the next year, revenue is forecast to grow 2.1%, compared to a 6.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. No independent directors (6 non-independent directors). Outside Auditor Yasuo Kanzaki was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
ENDO Lighting Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022 ENDO Lighting Corporation announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥51.30 (up from JP¥20.10 in 3Q 2021). Revenue: JP¥9.69b (up 7.1% from 3Q 2021). Net income: JP¥758.0m (up 155% from 3Q 2021). Profit margin: 7.8% (up from 3.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 3.9%, compared to a 6.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Nov 01
Second quarter 2022 earnings released: EPS JP¥31.54 (vs JP¥7.78 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥9.65b (up 21% from 2Q 2021). Net income: JP¥466.0m (up 305% from 2Q 2021). Profit margin: 4.8% (up from 1.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,045, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 14x in the Electrical industry in Japan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥61.45 (vs JP¥16.58 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥9.30b (up 23% from 1Q 2021). Net income: JP¥908.0m (up 271% from 1Q 2021). Profit margin: 9.8% (up from 3.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 04
Full year 2021 earnings released: EPS JP¥86.42 (vs JP¥130 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥35.4b (down 9.6% from FY 2020). Net income: JP¥1.28b (down 33% from FY 2020). Profit margin: 3.6% (down from 4.9% 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 9% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.2%). Announcement • Mar 06
ENDO Lighting Corporation to Report Fiscal Year 2021 Results on Apr 30, 2021 ENDO Lighting Corporation announced that they will report fiscal year 2021 results on Apr 30, 2021 Is New 90 Day High Low • Feb 15
New 90-day high: JP¥599 The company is up 5.0% from its price of JP¥573 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 24% over the same period. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥20.10 (vs JP¥24.84 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥9.05b (down 8.7% from 3Q 2020). Net income: JP¥297.0m (down 19% from 3Q 2020). Profit margin: 3.3% (down from 3.7% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 26
New 90-day low: JP¥512 The company is down 23% from its price of JP¥665 on 25 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 Electrical industry, which is up 22% over the same period. Announcement • Dec 05
ENDO Lighting Corporation to Report Q3, 2021 Results on Jan 29, 2021 ENDO Lighting Corporation announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Dec 04
New 90-day low: JP¥550 The company is down 11% from its price of JP¥617 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 28% over the same period. Announcement • Sep 04
ENDO Lighting Corporation to Report Q2, 2021 Results on Oct 30, 2020 ENDO Lighting Corporation announced that they will report Q2, 2021 results on Oct 30, 2020 
