Announcement • Jun 03
Totech Corporation to Report Q1, 2027 Results on Aug 07, 2026 Totech Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 18
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥319 (up from JP¥272 in FY 2025). Revenue: JP¥170.0b (up 9.0% from FY 2025). Net income: JP¥13.1b (up 17% from FY 2025). Profit margin: 7.7% (up from 7.2% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Trade Distributors 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 41% per year, which means it is tracking significantly ahead of earnings growth. Live News • May 16
Totech Targets Profit Growth With Higher Dividend and Ambitious 2030 Sales Plan Totech reported record net sales and profits for FY2026, supported by demand in construction, HVAC, instrumentation and energy solution businesses, as well as a solid order backlog and improved project profitability.
The board approved a higher year-end dividend of ¥93 per share for FY2026, with a proposed total annual dividend of ¥128 per share and a continued focus on performance-linked shareholder returns around a 40% payout ratio.
The company unveiled a Second Medium-Term Management Plan targeting ¥220b in net sales, ¥22b in ordinary profit and ROE of 12% to 15% by FY2030. It also plans to adopt a 6% DOE-based dividend policy with progressive dividends from FY2027, alongside an emphasis on human capital and a higher-profit structure.
Taken together, these updates indicate a company leaning into infrastructure and energy demand while laying out defined financial and capital return frameworks through 2030.
Investors may want to watch how consistently Totech executes on its profit targets and dividend policy shift, particularly in the context of potential changes in construction activity and energy-related project pipelines. Announcement • May 14
Totech Corporation, Annual General Meeting, Jun 24, 2026 Totech Corporation, Annual General Meeting, Jun 24, 2026. Announcement • May 09
Totech Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Totech Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥82.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). Announcement • Feb 20
Totech Corporation (TSE:9960) announces an Equity Buyback for 180,000 shares, representing 0.44% for ¥779.4 million. Totech Corporation (TSE:9960) announces a share repurchase program. Under the program, the company will repurchase 180,000 shares, representing 0.44% of its share capital for ¥779.4 million. The shares will be repurchased at a price of ¥4,330 per share. The program is part of flexible capital policy measures responsive to changes in the business environment and as part of shareholder return initiatives. The program is valid till February 24, 2026. As of February 20, 2026, the company had 41,330,561 shares outstanding (excluding treasury shares) and 633,439 shares in treasury. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥95.04 (vs JP¥76.37 in 3Q 2025) Third quarter 2026 results: EPS: JP¥95.04 (up from JP¥76.37 in 3Q 2025). Revenue: JP¥44.7b (up 6.2% from 3Q 2025). Net income: JP¥3.91b (up 25% from 3Q 2025). Profit margin: 8.8% (up from 7.5% in 3Q 2025). 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 4.5% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% 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 • Feb 14
Totech Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Totech Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company revised net sales of ¥166,000 million, operating profit of ¥16,000 million, profit attributable to owners of parent of ¥12,000 million and basic earnings per share of ¥291.43. Announcement • Feb 13
Totech Corporation (TSE:9960) announces an Equity Buyback for 180,000 shares, representing 0.44% for ¥774.9 million. Totech Corporation (TSE:9960) announces a share repurchase program. Under the program, the company will repurchase 180,000 shares, representing 0.44% of its share capital for ¥774.9 million. The shares will be repurchased at a price of ¥4,305 per share. The program is part of flexible capital policy measures responsive to changes in the business environment and as part of shareholder return initiatives. As of February 13, 2026, the company had 41,330,561 shares outstanding (excluding treasury shares) and 633,439 shares in treasury. Declared Dividend • Dec 09
First half dividend of JP¥82.00 announced Shareholders will receive a dividend of JP¥82.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 03
Totech Corporation to Report Q3, 2026 Results on Feb 13, 2026 Totech Corporation announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: JP¥73.41 (vs JP¥61.46 in 2Q 2025) Second quarter 2026 results: EPS: JP¥73.41 (up from JP¥61.46 in 2Q 2025). Revenue: JP¥42.3b (up 16% from 2Q 2025). Net income: JP¥3.02b (up 20% from 2Q 2025). Profit margin: 7.1% (up from 6.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.9%). Announcement • Sep 01
Totech Corporation to Report Q2, 2026 Results on Nov 11, 2025 Totech Corporation announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥53.33 (vs JP¥48.68 in 1Q 2025) First quarter 2026 results: EPS: JP¥53.33 (up from JP¥48.68 in 1Q 2025). Revenue: JP¥36.2b (up 14% from 1Q 2025). Net income: JP¥2.20b (up 9.6% from 1Q 2025). Profit margin: 6.1% (down from 6.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 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 (30% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥272 (up from JP¥170 in FY 2024). Revenue: JP¥156.0b (up 11% from FY 2024). Net income: JP¥11.2b (up 60% from FY 2024). Profit margin: 7.2% (up from 5.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 25
Totech Corporation Approves Board Changes, Effective June 25, 2025 Totech Corporation announced that at the board of directors' meeting held on June 25, 2025, it passed a resolution to change the representative director as follows: Details of the change: Katsumi Nagao: Current position: Representative Director and Chairperson of the Board; New position: Chairperson of the Board. Scheduled date of change: June 25, 2025. Announcement • May 31
Totech Corporation to Report Q1, 2026 Results on Aug 08, 2025 Totech Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 20
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥272 (up from JP¥170 in FY 2024). Revenue: JP¥156.0b (up 11% from FY 2024). Net income: JP¥11.2b (up 60% from FY 2024). Profit margin: 7.2% (up from 5.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 18
Totech Corporation, Annual General Meeting, Jun 25, 2025 Totech Corporation, Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,163, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Trade Distributors industry in Japan. Total returns to shareholders of 225% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥76.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.3%). Announcement • Mar 01
Totech Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Totech Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Announcement • Feb 22
Totech Corporation (TSE:9960) agreed to acquire Sannou Kikou Co.,Ltd. from Teruhide Tanaka. Totech Corporation (TSE:9960) agreed to acquire Sannou Kikou Co.,Ltd. from Teruhide Tanaka on February 21, 2025.
The expected completion of the transaction is April 1, 2025. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: JP¥76.37 (vs JP¥54.83 in 3Q 2024) Third quarter 2025 results: EPS: JP¥76.37 (up from JP¥54.83 in 3Q 2024). Revenue: JP¥42.1b (up 13% from 3Q 2024). Net income: JP¥3.14b (up 39% from 3Q 2024). Profit margin: 7.5% (up from 6.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Trade Distributors industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 04
Totech Corporation to Report Q3, 2025 Results on Feb 10, 2025 Totech Corporation announced that they will report Q3, 2025 results on Feb 10, 2025 Declared Dividend • Nov 30
First half dividend of JP¥64.00 announced Shareholders will receive a dividend of JP¥64.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 21
Totech Corporation has filed a Follow-on Equity Offering. Totech Corporation has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,745,700
Transaction Features: Subsequent Direct Listing New Risk • Nov 20
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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: JP¥61.46 (vs JP¥58.51 in 2Q 2024) Second quarter 2025 results: EPS: JP¥61.46 (up from JP¥58.51 in 2Q 2024). Revenue: JP¥36.6b (up 1.7% from 2Q 2024). Net income: JP¥2.53b (up 5.1% from 2Q 2024). Profit margin: 6.9% (up from 6.7% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued Over the last 90 days, the stock has risen 7.9% to JP¥2,563. The fair value is estimated to be JP¥3,224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.3%). Announcement • Aug 28
Totech Corporation to Report Q2, 2025 Results on Nov 11, 2024 Totech Corporation announced that they will report Q2, 2025 results on Nov 11, 2024 Announcement • Aug 22
Totech Corporation Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 Totech Corporation provided consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 146,000 million, operating profit of JPY 10,500 million, profit attributable to owners of parent of JPY 7,500 million and basic earnings per share of JPY 182.32. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥48.68 (vs JP¥6.23 in 1Q 2024) First quarter 2025 results: EPS: JP¥48.68 (up from JP¥6.23 in 1Q 2024). Revenue: JP¥31.7b (up 14% from 1Q 2024). Net income: JP¥2.00b (up JP¥1.75b from 1Q 2024). Profit margin: 6.3% (up from 0.9% 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 41% 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (120% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥2,028, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 9x in the Trade Distributors industry in Japan. Total returns to shareholders of 174% over the past three years. Buy Or Sell Opportunity • Jul 23
Now 22% overvalued Over the last 90 days, the stock has fallen 22% to JP¥2,493. The fair value is estimated to be JP¥2,046, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 40%. Declared Dividend • Jul 11
Final dividend of JP¥24.00 announced Shareholders will receive a dividend of JP¥24.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 7.0%, 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 (36% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. 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. Buy Or Sell Opportunity • Jul 03
Now 20% overvalued Over the last 90 days, the stock has fallen 18% to JP¥2,475. The fair value is estimated to be JP¥2,060, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 40%. Buy Or Sell Opportunity • Jun 10
Now 23% overvalued Over the last 90 days, the stock has fallen 7.5% to JP¥2,513. The fair value is estimated to be JP¥2,050, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 14%. Announcement • Jun 06
Totech Corporation to Report Q1, 2025 Results on Aug 09, 2024 Totech Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥511 (vs JP¥127 in FY 2023) Full year 2024 results: EPS: JP¥511 (up from JP¥127 in FY 2023). Revenue: JP¥140.7b (up 11% from FY 2023). Net income: JP¥7.00b (up 34% from FY 2023). Profit margin: 5.0% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 44% per year. Announcement • May 17
Totech Corporation, Annual General Meeting, Jun 26, 2024 Totech Corporation, Annual General Meeting, Jun 26, 2024. New Risk • Mar 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 237% Dividend yield: 6.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (237% cash payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥135 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.4%). Announcement • Mar 02
Totech Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Totech Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥165 (vs JP¥90.89 in 3Q 2023) Third quarter 2024 results: EPS: JP¥165 (up from JP¥90.89 in 3Q 2023). Revenue: JP¥37.4b (up 15% from 3Q 2023). Net income: JP¥2.26b (up 81% from 3Q 2023). Profit margin: 6.0% (up from 3.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JP¥6,300, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Trade Distributors industry in Japan. Total returns to shareholders of 161% over the past three years. Announcement • Nov 29
Totech Corporation to Report Q3, 2024 Results on Jan 31, 2024 Totech Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥176 (vs JP¥130 in 2Q 2023) Second quarter 2024 results: EPS: JP¥176 (up from JP¥130 in 2Q 2023). Revenue: JP¥36.0b (up 15% from 2Q 2023). Net income: JP¥2.41b (up 36% from 2Q 2023). Profit margin: 6.7% (up from 5.7% 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 6% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥61.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.8%). Announcement • Aug 27
Totech Corporation to Report Q2, 2024 Results on Nov 01, 2023 Totech Corporation announced that they will report Q2, 2024 results on Nov 01, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥18.69 (vs JP¥10.46 in 1Q 2023) First quarter 2024 results: EPS: JP¥18.69 (up from JP¥10.46 in 1Q 2023). Revenue: JP¥27.7b (up 17% from 1Q 2023). Net income: JP¥256.0m (up 79% from 1Q 2023). Profit margin: 0.9% (up from 0.6% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 04
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 486% Dividend yield: 2.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (486% cash payout ratio). Share price has been volatile over the past 3 months (5.1% average weekly change). Reported Earnings • Jul 01
Full year 2023 earnings released: EPS: JP¥382 (vs JP¥346 in FY 2022) Full year 2023 results: EPS: JP¥382 (up from JP¥346 in FY 2022). Revenue: JP¥126.7b (up 15% from FY 2022). Net income: JP¥5.23b (up 11% from FY 2022). Profit margin: 4.1% (down from 4.3% in FY 2022). The decrease in margin was driven by higher expenses. 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 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 31
Totech Corporation, Annual General Meeting, Jun 28, 2023 Totech Corporation, Annual General Meeting, Jun 28, 2023. Announcement • May 28
Totech Corporation to Report Q1, 2024 Results on Jul 31, 2023 Totech Corporation announced that they will report Q1, 2024 results on Jul 31, 2023 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥98.00 per share at 3.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.8%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥90.89 (vs JP¥66.67 in 3Q 2022) Third quarter 2023 results: EPS: JP¥90.89 (up from JP¥66.67 in 3Q 2022). Revenue: JP¥32.6b (up 16% from 3Q 2022). Net income: JP¥1.24b (up 37% from 3Q 2022). Profit margin: 3.8% (up from 3.3% 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 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 27
Totech Corporation to Report Q3, 2023 Results on Jan 31, 2023 Totech Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: JP¥130 (vs JP¥111 in 2Q 2022) Second quarter 2023 results: EPS: JP¥130 (up from JP¥111 in 2Q 2022). Revenue: JP¥31.4b (up 13% from 2Q 2022). Net income: JP¥1.77b (up 17% from 2Q 2022). Profit margin: 5.7% (up from 5.5% 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 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Outside Independent Director Atsuko Usami was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: JP¥130 (vs JP¥111 in 2Q 2022) Second quarter 2023 results: EPS: JP¥130 (up from JP¥111 in 2Q 2022). Revenue: JP¥31.4b (up 13% from 2Q 2022). Net income: JP¥1.77b (up 17% from 2Q 2022). Profit margin: 5.7% (up from 5.5% 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 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥49.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.6%). Announcement • Aug 28
Totech Corporation to Report Q2, 2023 Results on Nov 02, 2022 Totech Corporation announced that they will report Q2, 2023 results on Nov 02, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥10.46 (vs JP¥8.05 in 1Q 2022) First quarter 2023 results: EPS: JP¥10.46 (up from JP¥8.05 in 1Q 2022). Revenue: JP¥23.7b (up 12% from 1Q 2022). Net income: JP¥143.0m (up 30% from 1Q 2022). Profit margin: 0.6% (up from 0.5% 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 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. 
