Announcement • May 11
Okamura Corporation, Annual General Meeting, Jun 24, 2026 Okamura Corporation, Annual General Meeting, Jun 24, 2026. Reported Earnings • May 09
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: JP¥237 (up from JP¥233 in FY 2025). Revenue: JP¥329.0b (up 4.6% from FY 2025). Net income: JP¥22.4b (up 1.7% from FY 2025). Profit margin: 6.8% (down from 7.0% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year. Announcement • Apr 01
Okamura Corporation to Report Fiscal Year 2026 Results on May 08, 2026 Okamura Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 08, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.0%). Announcement • Feb 14
Okamura Corporation Announces Executive Retirements Okamura Corporation announced Makoto Tajiri will retire from his position as Managing Executive Officer and Senior General Manager of the Material Handling Systems Division and will assume the role of Advisor. Mari Kano is set to retire from her position in late June 2026. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥63.84 (vs JP¥33.85 in 3Q 2025) Third quarter 2026 results: EPS: JP¥63.84 (up from JP¥33.85 in 3Q 2025). Revenue: JP¥79.7b (up 6.0% from 3Q 2025). Net income: JP¥6.04b (up 89% from 3Q 2025). Profit margin: 7.6% (up from 4.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% 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 • Dec 16
Okamura Corporation to Report Q3, 2026 Results on Feb 06, 2026 Okamura Corporation announced that they will report Q3, 2026 results on Feb 06, 2026 Declared Dividend • Dec 11
First half dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 4.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (159% cash payout ratio). The dividend has increased by an average of 17% 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 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥30.74 (vs JP¥12.13 in 2Q 2025) Second quarter 2026 results: EPS: JP¥30.74 (up from JP¥12.13 in 2Q 2025). Revenue: JP¥78.3b (up 7.6% from 2Q 2025). Net income: JP¥2.91b (up 154% from 2Q 2025). Profit margin: 3.7% (up from 1.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Commercial Services 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 increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 26
Okamura Corporation to Report Q2, 2026 Results on Nov 07, 2025 Okamura Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥52.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.1%). Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥47.51 (vs JP¥72.09 in 1Q 2025) First quarter 2026 results: EPS: JP¥47.51 (down from JP¥72.09 in 1Q 2025). Revenue: JP¥75.4b (up 3.6% from 1Q 2025). Net income: JP¥4.50b (down 34% from 1Q 2025). Profit margin: 6.0% (down from 9.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. 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 24% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 21
Final dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 4.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (40% 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 19% 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 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥233 (up from JP¥214 in FY 2024). Revenue: JP¥314.5b (up 5.4% from FY 2024). Net income: JP¥22.0b (up 8.7% from FY 2024). Profit margin: 7.0% (up from 6.8% 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 5.4%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 24
Okamura Corporation to Report Q1, 2026 Results on Aug 08, 2025 Okamura Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Price Target Changed • May 28
Price target increased by 7.2% to JP¥2,733 Up from JP¥2,550, the current price target is an average from 3 analysts. New target price is 24% above last closing price of JP¥2,197. Stock is down 0.5% over the past year. The company is forecast to post earnings per share of JP¥239 for next year compared to JP¥233 last year. New Risk • May 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% 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 0.5% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 10
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥233 (up from JP¥214 in FY 2024). Revenue: JP¥314.5b (up 5.4% from FY 2024). Net income: JP¥22.0b (up 8.7% from FY 2024). Profit margin: 7.0% (up from 6.8% 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 5.4%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Okamura Corporation, Annual General Meeting, Jun 25, 2025 Okamura Corporation, Annual General Meeting, Jun 25, 2025. Announcement • Mar 27
Okamura Corporation to Report Fiscal Year 2025 Results on May 09, 2025 Okamura Corporation announced that they will report fiscal year 2025 results on May 09, 2025 Announcement • Mar 24
Okamura Corporation (TSE:7994) agreed to acquire Boss Design Ltd. from Boseco Limited. Okamura Corporation (TSE:7994) agreed to acquire Boss Design Ltd. from Boseco Limited on March 24, 2025. The scheduled Date of agreement and Share transfer date is in early April 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥33.85 (vs JP¥25.92 in 3Q 2024) Third quarter 2025 results: EPS: JP¥33.85 (up from JP¥25.92 in 3Q 2024). Revenue: JP¥75.2b (up 6.5% from 3Q 2024). Net income: JP¥3.20b (up 31% from 3Q 2024). Profit margin: 4.3% (up from 3.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Japan. 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 17% per year. Announcement • Jan 03
Okamura Corporation to Report Q3, 2025 Results on Feb 07, 2025 Okamura Corporation announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Dec 11
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (46% 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 20% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥12.13 (vs JP¥43.52 in 2Q 2024) Second quarter 2025 results: EPS: JP¥12.13 (down from JP¥43.52 in 2Q 2024). Revenue: JP¥72.8b (up 6.3% from 2Q 2024). Net income: JP¥1.15b (down 72% from 2Q 2024). Profit margin: 1.6% (down from 6.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Announcement • Sep 21
Okamura Corporation to Report Q2, 2025 Results on Nov 06, 2024 Okamura Corporation announced that they will report Q2, 2025 results on Nov 06, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.0%). Price Target Changed • Aug 22
Price target decreased by 8.2% to JP¥2,600 Down from JP¥2,833, the current price target is an average from 3 analysts. New target price is 30% above last closing price of JP¥1,995. Stock is down 8.7% over the past year. The company is forecast to post earnings per share of JP¥228 for next year compared to JP¥214 last year. Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥72.09 (vs JP¥64.05 in 1Q 2024) First quarter 2025 results: EPS: JP¥72.09 (up from JP¥64.05 in 1Q 2024). Revenue: JP¥72.8b (up 2.5% from 1Q 2024). Net income: JP¥6.82b (up 13% from 1Q 2024). Profit margin: 9.4% (up from 8.5% in 1Q 2024). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services 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 remained flat, which means it is significantly lagging earnings. 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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (198% cash payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to JP¥1,601, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Commercial Services industry in Japan. Total returns to shareholders of 2.9% over the past three years. Announcement • Jul 17
Okamura Corporation (TSE:7994) acquired remaining 30% stake in Db & B Holdings Pte Ltd. from Siew Kim Leng, Siew Sock Kuan, Cheng Kok Boon Paul, Ma.Rosario R.Gomez and Maria Rosario S.Panlilio for ¥6.1 billion. Okamura Corporation (TSE:7994) acquired remaining 30% stake in Db & B Holdings Pte Ltd. from Siew Kim Leng, Siew Sock Kuan, Cheng Kok Boon Paul, Ma.Rosario R.Gomez and Maria Rosario S.Panlilio for ¥6.1 billion on July 16, 2024. A cash consideration of ¥6.07 billion will be paid by Okamura Corporation. As part of consideration, ¥6.07 billion is paid towards common equity of Db & B Holdings Pte Ltd.
Okamura Corporation (TSE:7994) completed the acquisition of remaining 30% stake in Db & B Holdings Pte Ltd. from Siew Kim Leng, Siew Sock Kuan, Cheng Kok Boon Paul, Ma.Rosario R.Gomez and Maria Rosario S.Panlilio on July 16, 2024. Declared Dividend • Jul 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 4.0%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (198% cash payout ratio). The dividend has increased by an average of 20% 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 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 17
Okamura Corporation to Report Q1, 2025 Results on Aug 05, 2024 Okamura Corporation announced that they will report Q1, 2025 results on Aug 05, 2024 Price Target Changed • Jun 08
Price target increased by 7.1% to JP¥3,000 Up from JP¥2,800, the current price target is an average from 2 analysts. New target price is 38% above last closing price of JP¥2,181. Stock is up 18% over the past year. The company is forecast to post earnings per share of JP¥233 for next year compared to JP¥214 last year. Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥214 (up from JP¥163 in FY 2023). Revenue: JP¥298.3b (up 7.7% from FY 2023). Net income: JP¥20.3b (up 28% from FY 2023). Profit margin: 6.8% (up from 5.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 21% per year. Announcement • May 12
Okamura Corporation, Annual General Meeting, Jun 25, 2024 Okamura Corporation, Annual General Meeting, Jun 25, 2024. Announcement • Mar 27
Okamura Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Okamura Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥43.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥25.92 (vs JP¥34.20 in 3Q 2023) Third quarter 2024 results: EPS: JP¥25.92 (down from JP¥34.20 in 3Q 2023). Revenue: JP¥70.6b (up 4.4% from 3Q 2023). Net income: JP¥2.45b (down 27% from 3Q 2023). Profit margin: 3.5% (down from 4.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Announcement • Dec 28
Okamura Corporation to Report Q3, 2024 Results on Feb 09, 2024 Okamura Corporation announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥43.52 (vs JP¥33.55 in 2Q 2023) Second quarter 2024 results: EPS: JP¥43.52 (up from JP¥33.55 in 2Q 2023). Revenue: JP¥68.5b (up 3.5% from 2Q 2023). Net income: JP¥4.12b (up 26% from 2Q 2023). Profit margin: 6.0% (up from 5.0% in 2Q 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Commercial Services 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 increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 27
Okamura Corporation to Report Q2, 2024 Results on Nov 02, 2023 Okamura Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥33.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.9%). New Risk • Aug 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥64.05 (vs JP¥26.22 in 1Q 2023) First quarter 2024 results: EPS: JP¥64.05 (up from JP¥26.22 in 1Q 2023). Revenue: JP¥71.1b (up 12% from 1Q 2023). Net income: JP¥6.06b (up 137% from 1Q 2023). Profit margin: 8.5% (up from 4.0% in 1Q 2023). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. 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 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 26
Okamura Corporation to Report Q1, 2024 Results on Aug 04, 2023 Okamura Corporation announced that they will report Q1, 2024 results on Aug 04, 2023 Price Target Changed • May 13
Price target increased by 11% to JP¥1,950 Up from JP¥1,750, the current price target is an average from 2 analysts. New target price is 11% above last closing price of JP¥1,751. Stock is up 57% over the past year. The company is forecast to post earnings per share of JP¥153 for next year compared to JP¥163 last year. Announcement • May 12
Okamura Corporation, Annual General Meeting, Jun 27, 2023 Okamura Corporation, Annual General Meeting, Jun 27, 2023. Reported Earnings • May 12
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥163 (up from JP¥151 in FY 2022). Revenue: JP¥277.0b (up 6.1% from FY 2022). Net income: JP¥15.9b (up 6.1% from FY 2022). Profit margin: 5.7% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Commercial Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 29% per year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,755, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Commercial Services industry in Japan. Total returns to shareholders of 138% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥794 per share. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥22.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥34.19 (vs JP¥27.51 in 3Q 2022) Third quarter 2023 results: EPS: JP¥34.19 (up from JP¥27.51 in 3Q 2022). Revenue: JP¥67.6b (up 5.9% from 3Q 2022). Net income: JP¥3.34b (up 23% from 3Q 2022). Profit margin: 4.9% (up from 4.3% in 3Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Dec 23
Okamura Corporation to Report Q3, 2023 Results on Feb 03, 2023 Okamura Corporation announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥33.55 (vs JP¥17.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥33.55 (up from JP¥17.79 in 2Q 2022). Revenue: JP¥66.2b (up 13% from 2Q 2022). Net income: JP¥3.28b (up 86% from 2Q 2022). Profit margin: 5.0% (up from 3.0% in 2Q 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services 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 only increased by 10% 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 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Tsutomu Kamijo 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 06
Second quarter 2023 earnings released: EPS: JP¥33.55 (vs JP¥17.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥33.55 (up from JP¥17.79 in 2Q 2022). Revenue: JP¥66.2b (up 13% from 2Q 2022). Net income: JP¥3.28b (up 86% from 2Q 2022). Profit margin: 5.0% (up from 3.0% in 2Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services 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 only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.3%). Price Target Changed • Sep 02
Price target decreased to JP¥1,700 Down from JP¥1,833, the current price target is an average from 3 analysts. New target price is 32% above last closing price of JP¥1,288. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥129 for next year compared to JP¥151 last year. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥26.22 (vs JP¥33.04 in 1Q 2022) First quarter 2023 results: EPS: JP¥26.22 (down from JP¥33.04 in 1Q 2022). Revenue: JP¥63.7b (up 5.7% from 1Q 2022). Net income: JP¥2.56b (down 22% from 1Q 2022). Profit margin: 4.0% (down from 5.5% in 1Q 2022). Over the next year, revenue is forecast to grow 5.2%, compared to a 5.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥151 (up from JP¥113 in FY 2021). Revenue: JP¥261.2b (up 6.8% from FY 2021). Net income: JP¥15.0b (up 25% from FY 2021). Profit margin: 5.7% (up from 4.9% in FY 2021). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to stay flat compared to a 2.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 28% and the cash payout ratio is 89%. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥27.51 (down from JP¥32.41 in 3Q 2021). Revenue: JP¥63.8b (up 3.4% from 3Q 2021). Net income: JP¥2.73b (down 19% from 3Q 2021). Profit margin: 4.3% (down from 5.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is expected to shrink by 2.1% compared to a 2.7% growth forecast for the 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 fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥17.79 (vs JP¥19.56 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥58.7b (up 4.3% from 2Q 2021). Net income: JP¥1.76b (down 18% from 2Q 2021). Profit margin: 3.0% (down from 3.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.9%). Announcement • Sep 03
Okamura Corporation (TSE:7994) agreed to acquire 70% stake in DB&B Holdings Pte.Ltd from Siew Kim Leng, Sock Kuan Siew, Cheng Kok Boon and 2 others. Okamura Corporation (TSE:7994) agreed to acquire 70% stake in DB&B Holdings Pte.Ltd from Siew Kim Leng, Sock Kuan Siew, Cheng Kok Boon and 2 others on September 2, 2021. Okamura Corporation will acquire 2.457915 million shares of DB&B Holdings Pte.Ltd, representing 70% stake. The transaction is expected to clos in early October, 2021. Major Estimate Revision • Aug 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥113 to JP¥129. Revenue forecast steady at JP¥248.7b. Net income forecast to shrink 15% next year vs 11% growth forecast for Commercial Services industry in Japan . Consensus price target up from JP¥1,533 to JP¥2,033. Share price rose 6.7% to JP¥1,715 over the past week. Announcement • May 27
Okamura Corporation (TSE:7994) announces an Equity Buyback for 1,500,000 shares, representing 1.49% for ¥2,400 million. Okamura Corporation (TSE:7994) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 1.49% of the outstanding shares for ¥2,400 million. The shares will be repurchased at a price of ¥ 1,600 per share. The purpose of the program is to enable the implementation of a flexible capital policy in response to changes in the business environment. The program will run until May 27, 2021. As of May 26, 2021, the company had 100,620,640 shares outstanding and 381 shares in treasury. Price Target Changed • May 26
Price target increased to JP¥1,533 Up from JP¥1,383, the current price target is an average from 3 analysts. New target price is 8.3% above last closing price of JP¥1,416. Stock is up 61% over the past year. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥113 (vs JP¥89.44 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¥244.5b (down 3.4% from FY 2020). Net income: JP¥12.0b (up 22% from FY 2020). Profit margin: 4.9% (up from 3.9% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.8%). Announcement • Mar 04
Okamura Corporation to Report Fiscal Year 2021 Results on May 12, 2021 Okamura Corporation announced that they will report fiscal year 2021 results on May 12, 2021 Is New 90 Day High Low • Feb 24
New 90-day high: JP¥1,106 The company is up 18% from its price of JP¥938 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,643 per share. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.5%. Over the next year, revenue is forecast to stay flat compared to a 3.2% growth forecast for the Commercial Services industry in Japan. 
