Reported Earnings • Aug 07
First quarter 2027 earnings released: EPS: JP¥94.99 (vs JP¥75.03 in 1Q 2026) First quarter 2027 results: EPS: JP¥94.99 (up from JP¥75.03 in 1Q 2026). Revenue: JP¥176.9b (up 20% from 1Q 2026). Net income: JP¥2.51b (up 27% from 1Q 2026). Profit margin: 1.4% (up from 1.3% in 1Q 2026). The increase in margin was driven by higher revenue. 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 17% per year, which means it is well ahead of earnings. Declared Dividend • Jul 31
Final dividend of JP¥65.00 announced Shareholders will receive a dividend of JP¥65.00. Ex-date: 29th September 2026 Payment date: 8th December 2026 Dividend yield will be 4.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 03
Shinsho Corporation to Report Q1, 2027 Results on Aug 06, 2026 Shinsho Corporation announced that they will report Q1, 2027 results on Aug 06, 2026 Reported Earnings • May 15
Full year 2026 earnings released: EPS: JP¥314 (vs JP¥324 in FY 2025) Full year 2026 results: EPS: JP¥314 (down from JP¥324 in FY 2025). Revenue: JP¥608.1b (down 1.5% from FY 2025). Net income: JP¥8.29b (down 3.2% from FY 2025). Profit margin: 1.4% (in line with FY 2025). 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 9% per year, which means it is well ahead of earnings. Announcement • May 13
Shinsho Corporation, Annual General Meeting, Jun 25, 2026 Shinsho Corporation, Annual General Meeting, Jun 25, 2026. Announcement • May 12
Kobe Steel, Ltd. (TSE:5406) entered into a share exchange agreement to acquire remaining 56.52% stake in Kobelco Wire Company, Ltd. (TSE:5660) from Nippon Life Insurance Company, Mizuho Trust & Banking Co., Ltd., Shinsho Corporation (TSE:8075), Mizuho Bank, Ltd., Mitsui & Co. Steel Ltd. and Michio Maruyama for ¥6.1 billion. Kobe Steel, Ltd. (TSE:5406) entered into a share exchange agreement to acquire remaining 56.52% stake in Kobelco Wire Company, Ltd. (TSE:5660) from Nippon Life Insurance Company, Mizuho Trust & Banking Co., Ltd., Shinsho Corporation (TSE:8075), Mizuho Bank, Ltd., Mitsui & Co. Steel Ltd. and Michio Maruyama for ¥6.1 billion on May 11, 2026. The consideration consists of 3.14 million common equity of Kobe Steel, Ltd. at an exchange ratio of 0.94 to be issued for common equity of Kobelco Wire Company, Ltd. As part of consideration, ¥6.08 billion is paid towards common equity of Kobelco Wire Company, Ltd. Upon completion, Kobe Steel, Ltd. will own 100% stake in Kobelco Wire Company, Ltd.
The transaction is subject to approval of offer by target shareholders. The expected completion of the transaction is September 1, 2026.
Nomura Securities Co., Ltd. acted as financial advisor for Kobe Steel, Ltd. Industrial Growth Platform, Inc. acted as financial advisor for Kobelco Wire Company, Ltd. Nishimura & Asahi acted as legal advisor for Kobe Steel, Ltd. TMI Associates acted as legal advisor for Kobelco Wire Company, Ltd. Announcement • Apr 26
Shinsho Corporation to Report Fiscal Year 2026 Results on May 13, 2026 Shinsho Corporation announced that they will report fiscal year 2026 results at 9:00 AM, Tokyo Standard Time on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥53.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 11 June 2026. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). New Risk • Feb 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥83.34 (vs JP¥83.57 in 3Q 2025) Third quarter 2026 results: EPS: JP¥83.34 (down from JP¥83.57 in 3Q 2025). Revenue: JP¥152.9b (down 3.4% from 3Q 2025). Net income: JP¥2.20b (flat on 3Q 2025). Profit margin: 1.4% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jan 31
Shinsho Corporation (TSE:8075) acquired Kinzoku Yozai Co., Ltd. Shinsho Corporation (TSE:8075) acquired Kinzoku Yozai Co., Ltd. on January 30, 2026.
Shinsho Corporation (TSE:8075) completed the acquisition of Kinzoku Yozai Co., Ltd. on January 30, 2026. Declared Dividend • Dec 09
First half dividend of JP¥53.00 announced Shareholders will receive a dividend of JP¥53.00. Ex-date: 30th March 2026 Payment date: 11th June 2026 Dividend yield will be 4.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 83% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Shinsho Corporation to Report Q3, 2026 Results on Feb 06, 2026 Shinsho Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥79.14 (vs JP¥61.68 in 2Q 2025) Second quarter 2026 results: EPS: JP¥79.14 (up from JP¥61.68 in 2Q 2025). Revenue: JP¥145.1b (down 6.0% from 2Q 2025). Net income: JP¥2.09b (up 28% from 2Q 2025). Profit margin: 1.4% (up from 1.1% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥53.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.9%). Announcement • Sep 02
Shinsho Corporation to Report Q2, 2026 Results on Nov 06, 2025 Shinsho Corporation announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥75.03 (vs JP¥111 in 1Q 2025) First quarter 2026 results: EPS: JP¥75.03 (down from JP¥111 in 1Q 2025). Revenue: JP¥147.7b (down 3.1% from 1Q 2025). Net income: JP¥1.98b (down 33% from 1Q 2025). Profit margin: 1.3% (down from 1.9% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥53.00 announced Shareholders will receive a dividend of JP¥53.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 9.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 40% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings released: EPS: JP¥973 (vs JP¥345 in FY 2024) Full year 2025 results: EPS: JP¥973. Revenue: JP¥617.2b (up 4.4% from FY 2024). Net income: JP¥8.56b (down 6.0% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Buy Or Sell Opportunity • Jun 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to JP¥1,952. The fair value is estimated to be JP¥2,453, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.7%. Announcement • Jun 04
Shinsho Corporation to Report Q1, 2026 Results on Aug 07, 2025 Shinsho Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Buy Or Sell Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to JP¥1,934. The fair value is estimated to be JP¥2,442, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 29%. New Risk • May 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 09
Full year 2025 earnings released: EPS: JP¥973 (vs JP¥345 in FY 2024) Full year 2025 results: EPS: JP¥973. Revenue: JP¥617.2b (up 4.4% from FY 2024). Net income: JP¥8.56b (down 6.0% from FY 2024). Profit margin: 1.4% (in line with FY 2024). Announcement • May 08
Shinsho Corporation, Annual General Meeting, Jun 25, 2025 Shinsho Corporation, Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Announcement • Mar 12
Shinsho Corporation (TSE:8075) acquired 20% stake in Sanyo Seiki Co., Ltd. Shinsho Corporation (TSE:8075) acquired 20% stake in Sanyo Seiki Co., Ltd. in January, 2025.
Shinsho Corporation (TSE:8075) completed the acquisition of 20% stake in Sanyo Seiki Co., Ltd. in January, 2025. Announcement • Mar 01
Shinsho Corporation to Report Fiscal Year 2025 Results on May 08, 2025 Shinsho Corporation announced that they will report fiscal year 2025 results on May 08, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥251 (vs JP¥320 in 3Q 2024) Third quarter 2025 results: EPS: JP¥251 (down from JP¥320 in 3Q 2024). Revenue: JP¥158.3b (up 2.7% from 3Q 2024). Net income: JP¥2.21b (down 22% from 3Q 2024). Profit margin: 1.4% (down from 1.8% in 3Q 2024). The decrease in margin was driven by higher expenses. 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 17% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 07
First half dividend of JP¥150 announced Shareholders will receive a dividend of JP¥150. Ex-date: 28th March 2025 Payment date: 12th June 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥185 (vs JP¥267 in 2Q 2024) Second quarter 2025 results: EPS: JP¥185 (down from JP¥267 in 2Q 2024). Revenue: JP¥154.3b (up 8.1% from 2Q 2024). Net income: JP¥1.63b (down 31% from 2Q 2024). Profit margin: 1.1% (down from 1.6% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 16% 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 • Nov 07
Shinsho Corporation Announces Interim Dividend for the Fiscal Year Ending March 31, 2025, Payable on December 6, 2024 Shinsho Corporation announced that Board of Directors has resolved at a meeting held on November 7, 2024 to distribute interim dividend for the fiscal year ending March 31, 2025 of JPY 150.00 per share against JPY 125.00 per share paid for the same period a year ago. Record date is September 30, 2024. Effective date is December 6, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.3%). Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥334 (vs JP¥155 in 1Q 2024) First quarter 2025 results: EPS: JP¥334 (up from JP¥155 in 1Q 2024). Revenue: JP¥152.3b (up 12% from 1Q 2024). Net income: JP¥2.94b (up 116% from 1Q 2024). Profit margin: 1.9% (up from 1.0% in 1Q 2024). The increase in margin was driven by higher revenue. 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 32% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). 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 (6.4% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥6,670, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 159% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥150 announced Shareholders will receive a dividend of JP¥150. Ex-date: 27th September 2024 Payment date: 6th December 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 11
Full year 2024 earnings released: EPS: JP¥1,035 (vs JP¥1,043 in FY 2023) Full year 2024 results: EPS: JP¥1,035 (down from JP¥1,043 in FY 2023). Revenue: JP¥591.4b (up 1.1% from FY 2023). Net income: JP¥9.11b (flat on FY 2023). Profit margin: 1.5% (down from 1.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
Shinsho Corporation, Annual General Meeting, Jun 26, 2024 Shinsho Corporation, Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥125 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 44% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥320 (vs JP¥293 in 3Q 2023) Third quarter 2024 results: EPS: JP¥320 (up from JP¥293 in 3Q 2023). Revenue: JP¥154.1b (down 1.3% from 3Q 2023). Net income: JP¥2.82b (up 9.1% from 3Q 2023). Profit margin: 1.8% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Nov 20
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be JP¥7,085, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 51%. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥267 (vs JP¥150 in 2Q 2023) Second quarter 2024 results: EPS: JP¥267 (up from JP¥150 in 2Q 2023). Revenue: JP¥142.8b (up 3.7% from 2Q 2023). Net income: JP¥2.35b (up 77% from 2Q 2023). Profit margin: 1.6% (up from 1.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be JP¥6,920, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has grown by 62%. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥120 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.8%). Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥155 (vs JP¥351 in 1Q 2023) First quarter 2024 results: EPS: JP¥155 (down from JP¥351 in 1Q 2023). Revenue: JP¥136.6b (down 3.1% from 1Q 2023). Net income: JP¥1.36b (down 56% from 1Q 2023). Profit margin: 1.0% (down from 2.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
Full year 2023 earnings released: EPS: JP¥1,043 (vs JP¥806 in FY 2022) Full year 2023 results: EPS: JP¥1,043 (up from JP¥806 in FY 2022). Revenue: JP¥584.9b (up 18% from FY 2022). Net income: JP¥9.20b (up 29% from FY 2022). Profit margin: 1.6% (up from 1.4% 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 71% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • May 11
Shinsho Corporation, Annual General Meeting, Jun 23, 2023 Shinsho Corporation, Annual General Meeting, Jun 23, 2023. Agenda: Annual General Meeting. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥150 per share at 5.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.8%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥293 (vs JP¥198 in 3Q 2022) Third quarter 2023 results: EPS: JP¥293 (up from JP¥198 in 3Q 2022). Revenue: JP¥156.2b (up 23% from 3Q 2022). Net income: JP¥2.58b (up 48% from 3Q 2022). Profit margin: 1.7% (up from 1.4% 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 63% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Dec 04
Shinsho Corporation to Report Q3, 2023 Results on Feb 03, 2023 Shinsho Corporation announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥251 (vs JP¥233 in 2Q 2022) Second quarter 2023 results: EPS: JP¥251 (up from JP¥233 in 2Q 2022). Revenue: JP¥139.3b (up 26% from 2Q 2022). Net income: JP¥2.22b (up 7.5% from 2Q 2022). Profit margin: 1.6% (down from 1.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). President, CEO & Director Takafumi Morichi is the most experienced director on the board, commencing their role in 2017. Independent Outside Director Yoshio Tano was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 04
Second quarter 2023 earnings released: EPS: JP¥251 (vs JP¥233 in 2Q 2022) Second quarter 2023 results: EPS: JP¥251 (up from JP¥233 in 2Q 2022). Revenue: JP¥139.3b (up 26% from 2Q 2022). Net income: JP¥2.22b (up 7.5% from 2Q 2022). Profit margin: 1.6% (down from 1.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.6%). Announcement • Aug 28
Shinsho Corporation to Report Q2, 2023 Results on Nov 02, 2022 Shinsho Corporation announced that they will report Q2, 2023 results on Nov 02, 2022 Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: JP¥351 (vs JP¥203 in 1Q 2022) First quarter 2023 results: EPS: JP¥351 (up from JP¥203 in 1Q 2022). Revenue: JP¥140.9b (up 24% from 1Q 2022). Net income: JP¥3.11b (up 73% from 1Q 2022). Profit margin: 2.2% (up from 1.6% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jul 24
Shinsho Corporation to Report Q1, 2023 Results on Aug 03, 2022 Shinsho Corporation announced that they will report Q1, 2023 results on Aug 03, 2022 Announcement • May 02
Shinsho Corporation, Annual General Meeting, Jun 24, 2022 Shinsho Corporation, Annual General Meeting, Jun 24, 2022. Agenda: AGM. Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: JP¥806 (vs JP¥248 in FY 2021) Full year 2022 results: EPS: JP¥806 (up from JP¥248 in FY 2021). Revenue: JP¥494.4b (down 37% from FY 2021). Net income: JP¥7.14b (up 225% from FY 2021). Profit margin: 1.4% (up from 0.3% in FY 2021). The increase in margin was driven by lower expenses. 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 11% per year, which means it is significantly lagging earnings growth. 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 Kiyoshi Sakamoto 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
Shinsho Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022 Shinsho Corporation announced that they will report fiscal year 2022 results on Apr 28, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥135 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 07 June 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 7.0%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (3.4%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥198 (up from JP¥112 in 3Q 2021). Revenue: JP¥127.1b (down 38% from 3Q 2021). Net income: JP¥1.75b (up 77% from 3Q 2021). Profit margin: 1.4% (up from 0.5% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥233 (vs JP¥48.00 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥110.2b (down 34% from 2Q 2021). Net income: JP¥2.06b (up 385% from 2Q 2021). Profit margin: 1.9% (up from 0.3% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥85.00 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%). Lower than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 28% share price gain to JP¥2,958, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 12x in the Trade Distributors industry in Japan. Total returns to shareholders of 2.0% over the past three years. Reported Earnings • Apr 30
Full year 2021 earnings released: EPS JP¥248 (vs JP¥184 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥784.2b (down 16% from FY 2020). Net income: JP¥2.20b (up 35% from FY 2020). Profit margin: 0.3% (up from 0.2% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 05 June 2021. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (3.0%). 
