Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,123, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 14x in the Machinery industry in Japan. Total returns to shareholders of 27% over the past three years. New Risk • May 28
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 7.9% 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 have declined by 11% per year over the past 5 years. 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 (7.9% average weekly change). Market cap is less than US$100m (JP¥8.86b market cap, or US$55.6m). Announcement • May 10
Nadex Co., Ltd. to Report Fiscal Year 2026 Results on Jun 09, 2026 Nadex Co., Ltd. announced that they will report fiscal year 2026 results on Jun 09, 2026 Valuation Update With 7 Day Price Move • May 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,038, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 15x in the Machinery industry in Japan. Total returns to shareholders of 13% over the past three years. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 30 July 2026. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Mar 12
Third quarter 2026 earnings released: EPS: JP¥0.12 (vs JP¥15.14 in 3Q 2025) Third quarter 2026 results: EPS: JP¥0.12 (down from JP¥15.14 in 3Q 2025). Revenue: JP¥7.64b (down 19% from 3Q 2025). Net income: JP¥1.00m (down 99% from 3Q 2025). Profit margin: 0% (down from 1.3% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Jan 16
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 28th April 2026 Payment date: 30th July 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 17
Second quarter 2026 earnings released: EPS: JP¥29.05 (vs JP¥26.35 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥29.05 (up from JP¥26.35 loss in 2Q 2025). Revenue: JP¥9.09b (down 3.3% from 2Q 2025). Net income: JP¥237.0m (up JP¥459.0m from 2Q 2025). Profit margin: 2.6% (up from net loss in 2Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 10
Nadex Co., Ltd. (TSE:7435) announces an Equity Buyback for 230,000 shares, representing 2.69% for ¥200 million. Nadex Co., Ltd. (TSE:7435) announces a share repurchase program. Under the program, the company will repurchase 230,000 shares, representing 2.69% of the issued share capital, for ¥200 million. The purpose of the program is to to return profits to shareholders and improve capital efficiency, we will acquire and cancel treasury shares. The repurchased shares will be cancelled. The program will run until May 29, 2026. As of November 30, 2025, the company had 8,559,514 shares issued (excluding treasury stock) and 240,986 shares in treasury. Announcement • Oct 29
Nadex Co., Ltd. to Report Q2, 2026 Results on Dec 09, 2025 Nadex Co., Ltd. announced that they will report Q2, 2026 results on Dec 09, 2025 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 15 January 2026. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.8%). Reported Earnings • Sep 10
First quarter 2026 earnings released: JP¥15.59 loss per share (vs JP¥19.74 loss in 1Q 2025) First quarter 2026 results: JP¥15.59 loss per share (improved from JP¥19.74 loss in 1Q 2025). Revenue: JP¥7.76b (up 8.7% from 1Q 2025). Net loss: JP¥129.0m (loss narrowed 24% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Declared Dividend • Aug 14
Final dividend of JP¥11.00 announced Shareholders will receive a dividend of JP¥11.00. Ex-date: 30th October 2025 Payment date: 15th January 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (111% earnings payout ratio). However, it is well covered by cash flows (18% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 23% to bring the payout ratio under control. However, EPS has declined by 13% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Aug 02
Full year 2025 earnings released: EPS: JP¥29.76 (vs JP¥90.07 in FY 2024) Full year 2025 results: EPS: JP¥29.76 (down from JP¥90.07 in FY 2024). Revenue: JP¥36.9b (up 7.3% from FY 2024). Net income: JP¥251.0m (down 69% from FY 2024). Profit margin: 0.7% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Jun 16
Full year 2025 earnings released: EPS: JP¥29.76 (vs JP¥90.07 in FY 2024) Full year 2025 results: EPS: JP¥29.76 (down from JP¥90.07 in FY 2024). Revenue: JP¥36.9b (up 7.3% from FY 2024). Net income: JP¥251.0m (down 69% from FY 2024). Profit margin: 0.7% (down from 2.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jun 13
Nadex Co., Ltd., Annual General Meeting, Jul 29, 2025 Nadex Co., Ltd., Annual General Meeting, Jul 29, 2025. Announcement • Jun 06
Nadex Co., Ltd. to Report Fiscal Year 2025 Results on Jun 13, 2025 Nadex Co., Ltd. announced that they will report fiscal year 2025 results on Jun 13, 2025 Upcoming Dividend • Apr 21
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 24 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.4%). Announcement • Mar 14
Nadex Co., Ltd. (TSE:7435) announces an Equity Buyback for 330,000 shares, representing 3.75% for ¥250 million. Nadex Co., Ltd. (TSE:7435) announces a share repurchase program. Under the program, the company will repurchase 330,000 shares, representing 3.75% of the issued share capital, for ¥250 million. The purpose of the program is to acquire and cancel treasury stock in order to return profits to shareholders and improve capital efficiency. The program will run until October 24, 2025. As of January 31, 2025, the company had 8,808,269 shares issued (excluding treasury stock) and 254,931 shares in treasury. Reported Earnings • Feb 16
Second quarter 2025 earnings released: JP¥27.78 loss per share (vs JP¥11.29 profit in 2Q 2024) Second quarter 2025 results: JP¥27.78 loss per share (down from JP¥11.29 profit in 2Q 2024). Revenue: JP¥9.37b (up 18% from 2Q 2024). Net loss: JP¥234.0m (down 327% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jan 25
Nadex Co., Ltd. to Report Q3, 2025 Results on Mar 07, 2025 Nadex Co., Ltd. announced that they will report Q3, 2025 results on Mar 07, 2025 Declared Dividend • Jan 16
Dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 28th April 2025 Payment date: 24th July 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (86% 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 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 4.1% to shift the payout ratio to a potentially unsustainable range, which is less than the 11% EPS decline seen over the last 5 years. Announcement • Oct 24
Nadex Co., Ltd. to Report Q2, 2025 Results on Dec 05, 2024 Nadex Co., Ltd. announced that they will report Q2, 2025 results on Dec 05, 2024 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 15 January 2025. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.7%). Reported Earnings • Sep 07
First quarter 2025 earnings released: JP¥18.34 loss per share (vs JP¥26.42 profit in 1Q 2024) First quarter 2025 results: JP¥18.34 loss per share (down from JP¥26.42 profit in 1Q 2024). Revenue: JP¥7.17b (down 12% from 1Q 2024). Net loss: JP¥157.0m (down 164% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 7.4% After last week's 7.4% share price decline to JP¥1,032, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 11x in the Machinery industry in Japan. Total returns to shareholders of 62% over the past three years. Declared Dividend • Aug 05
Final dividend of JP¥11.00 announced Shareholders will receive a dividend of JP¥11.00. Ex-date: 30th October 2024 Payment date: 15th January 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (49% 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 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 45% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.5% EPS decline seen over the last 5 years. Announcement • Jul 31
Nadex Co., Ltd. to Report Q1, 2025 Results on Sep 05, 2024 Nadex Co., Ltd. announced that they will report Q1, 2025 results on Sep 05, 2024 Reported Earnings • Jun 16
Full year 2024 earnings released: EPS: JP¥96.83 (vs JP¥143 in FY 2023) Full year 2024 results: EPS: JP¥96.83 (down from JP¥143 in FY 2023). Revenue: JP¥34.4b (down 4.9% from FY 2023). Net income: JP¥874.0m (down 34% from FY 2023). Profit margin: 2.5% (down from 3.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 28
Nadex Co., Ltd. to Report Fiscal Year 2024 Results on Jun 11, 2024 Nadex Co., Ltd. announced that they will report fiscal year 2024 results on Jun 11, 2024 Upcoming Dividend • Apr 19
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.9%). New Risk • Mar 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.4% Last year net profit margin: 3.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (JP¥9.25b market cap, or US$62.9m). Reported Earnings • Mar 08
Third quarter 2024 earnings released: EPS: JP¥0.45 (vs JP¥28.10 in 3Q 2023) Third quarter 2024 results: EPS: JP¥0.45 (down from JP¥28.10 in 3Q 2023). Revenue: JP¥7.22b (down 12% from 3Q 2023). Net income: JP¥4.00m (down 99% from 3Q 2023). Profit margin: 0.1% (down from 3.2% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Nadex Co., Ltd. to Report Q3, 2024 Results on Mar 07, 2024 Nadex Co., Ltd. announced that they will report Q3, 2024 results on Mar 07, 2024 Reported Earnings • Dec 08
Second quarter 2024 earnings released: EPS: JP¥11.29 (vs JP¥43.36 in 2Q 2023) Second quarter 2024 results: EPS: JP¥11.29 (down from JP¥43.36 in 2Q 2023). Revenue: JP¥7.97b (down 23% from 2Q 2023). Net income: JP¥103.0m (down 75% from 2Q 2023). Profit margin: 1.3% (down from 3.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
Nadex Co., Ltd. to Report Q2, 2024 Results on Dec 07, 2023 Nadex Co., Ltd. announced that they will report Q2, 2024 results on Dec 07, 2023 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥11.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 15 January 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.3%). Reported Earnings • Sep 08
First quarter 2024 earnings released: EPS: JP¥26.42 (vs JP¥23.75 in 1Q 2023) First quarter 2024 results: EPS: JP¥26.42 (up from JP¥23.75 in 1Q 2023). Revenue: JP¥8.16b (up 6.3% from 1Q 2023). Net income: JP¥246.0m (up 11% from 1Q 2023). Profit margin: 3.0% (in line with 1Q 2023). 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 20% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Nadex Co., Ltd. to Report Q1, 2024 Results on Sep 06, 2023 Nadex Co., Ltd. announced that they will report Q1, 2024 results on Sep 06, 2023 Reported Earnings • Jun 12
Full year 2023 earnings released: EPS: JP¥143 (vs JP¥108 in FY 2022) Full year 2023 results: EPS: JP¥143 (up from JP¥108 in FY 2022). Revenue: JP¥36.2b (up 4.6% from FY 2022). Net income: JP¥1.33b (up 32% from FY 2022). Profit margin: 3.7% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. 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 14% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
Nadex Co., Ltd., Annual General Meeting, Jul 25, 2023 Nadex Co., Ltd., Annual General Meeting, Jul 25, 2023. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥24.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 10
Third quarter 2023 earnings released: EPS: JP¥28.10 (vs JP¥16.66 in 3Q 2022) Third quarter 2023 results: EPS: JP¥28.10 (up from JP¥16.66 in 3Q 2022). Revenue: JP¥8.16b (up 5.0% from 3Q 2022). Net income: JP¥262.0m (up 69% from 3Q 2022). Profit margin: 3.2% (up from 2.0% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 09
Second quarter 2023 earnings released: EPS: JP¥43.36 (vs JP¥37.11 in 2Q 2022) Second quarter 2023 results: EPS: JP¥43.36 (up from JP¥37.11 in 2Q 2022). Revenue: JP¥10.4b (up 5.5% from 2Q 2022). Net income: JP¥404.0m (up 17% from 2Q 2022). Profit margin: 3.9% (up from 3.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Nadex Co., Ltd. to Report Q2, 2023 Results on Dec 07, 2022 Nadex Co., Ltd. announced that they will report Q2, 2023 results on Dec 07, 2022 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent External Director Yoko Noguchi was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 16 January 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.5%). Buying Opportunity • Sep 07
Now 21% undervalued Over the last 90 days, the stock is up 3.9%. The fair value is estimated to be JP¥978, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has grown by 6.5%. Announcement • Aug 06
Nadex Co., Ltd. to Report Q1, 2023 Results on Sep 06, 2022 Nadex Co., Ltd. announced that they will report Q1, 2023 results on Sep 06, 2022 Announcement • Jun 11
Nadex Co., Ltd., Annual General Meeting, Jul 26, 2022 Nadex Co., Ltd., Annual General Meeting, Jul 26, 2022. Reported Earnings • Jun 11
Full year 2022 earnings released: EPS: JP¥108 (vs JP¥60.38 in FY 2021) Full year 2022 results: EPS: JP¥108 (up from JP¥60.38 in FY 2021). Revenue: JP¥34.6b (up 13% from FY 2021). Net income: JP¥1.01b (up 80% from FY 2021). Profit margin: 2.9% (up from 1.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 4% per year. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥745, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 12x in the Machinery industry in Japan. Total loss to shareholders of 2.8% over the past three years. Announcement • Jun 04
Nadex Co., Ltd. to Report Fiscal Year 2022 Results on Jun 09, 2022 Nadex Co., Ltd. announced that they will report fiscal year 2022 results on Jun 09, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent External Director Yoko Noguchi was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.1%). Reported Earnings • Mar 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥16.66 (up from JP¥16.37 in 3Q 2021). Revenue: JP¥7.77b (up 2.6% from 3Q 2021). Net income: JP¥155.0m (up 2.0% from 3Q 2021). Profit margin: 2.0% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Dec 10
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: JP¥37.11 (up from JP¥34.40 in 2Q 2021). Revenue: JP¥9.85b (up 14% from 2Q 2021). Net income: JP¥345.0m (up 8.2% from 2Q 2021). Profit margin: 3.5% (down from 3.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 15 January 2022. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.5%). Reported Earnings • Sep 09
First quarter 2022 earnings released: EPS JP¥17.02 (vs JP¥2.49 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥7.49b (up 8.9% from 1Q 2021). Net income: JP¥158.0m (up JP¥181.0m from 1Q 2021). Profit margin: 2.1% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 11
Full year 2021 earnings released: EPS JP¥60.38 (vs JP¥62.05 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥30.7b (down 2.1% from FY 2020). Net income: JP¥560.0m (down 2.4% from FY 2020). Profit margin: 1.8% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Jun 10
Nadex Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ended October 31, 2021 and the Fiscal Year Ending April 30, 2022 Nadex Co., Ltd. provided consolidated earnings guidance for the six months ended October 31, 2021 and the fiscal year ending April 30, 2022. For the Six months, the company expects net sales to be JPY 16,780 million, operating profit to be JPY 420 million, ordinary profit to be JPY 465 million, profit attributable to owners of parent to be JPY 300 million or JPY 32.32 per basic share.
For the full year, the company expects net sales to be JPY 34,350 million, operating profit to be JPY 905 million, ordinary profit to be JPY 990 million, profit attributable to owners of parent to be JPY 640 million or JPY 68.94 per basic share. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 29 July 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (2.8%). Higher than average of industry peers (1.2%). Reported Earnings • Mar 10
Third quarter 2021 earnings released: EPS JP¥16.37 (vs JP¥14.69 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥7.57b (up 2.9% from 3Q 2020). Net income: JP¥152.0m (up 12% from 3Q 2020). Profit margin: 2.0% (up from 1.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Feb 28
Nadex Co., Ltd. to Report Q3, 2021 Results on Mar 09, 2021 Nadex Co., Ltd. announced that they will report Q3, 2021 results on Mar 09, 2021 Is New 90 Day High Low • Feb 22
New 90-day high: JP¥719 The company is up 14% from its price of JP¥632 on 24 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 27
New 90-day high: JP¥693 The company is up 12% from its price of JP¥620 on 29 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 21% over the same period. 
