Reported Earnings • Jun 15
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥1,238 (up from JP¥1,174 in FY 2025). Revenue: JP¥386.5b (up 5.4% from FY 2025). Net income: JP¥16.2b (up 2.4% from FY 2025). Profit margin: 4.2% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jun 12
Token Corporation, Annual General Meeting, Jul 28, 2026 Token Corporation, Annual General Meeting, Jul 28, 2026. Announcement • Jun 11
Token Corporation to Report Fiscal Year 2026 Results on Jun 12, 2026 Token Corporation announced that they will report fiscal year 2026 results on Jun 12, 2026 Upcoming Dividend • Apr 21
Upcoming dividend of JP¥360 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 30 July 2026. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 14
Third quarter 2026 earnings released: EPS: JP¥301 (vs JP¥340 in 3Q 2025) Third quarter 2026 results: EPS: JP¥301 (down from JP¥340 in 3Q 2025). Revenue: JP¥95.6b (up 3.7% from 3Q 2025). Net income: JP¥4.05b (down 12% from 3Q 2025). Profit margin: 4.2% (down from 5.0% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Consumer Durables industry in Japan. 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 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 16
Second quarter 2026 earnings released: EPS: JP¥276 (vs JP¥249 in 2Q 2025) Second quarter 2026 results: EPS: JP¥276 (up from JP¥249 in 2Q 2025). Revenue: JP¥93.7b (up 4.1% from 2Q 2025). Net income: JP¥3.71b (up 11% from 2Q 2025). Profit margin: 4.0% (up from 3.7% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 14
Dividend of JP¥360 announced Shareholders will receive a dividend of JP¥360. Ex-date: 28th April 2026 Payment date: 30th July 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 14% 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 7.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 12
Token Corporation (TSE:1766) announces an Equity Buyback for 2,342,700 shares, representing 17.43% for ¥29,581.27 million. Token Corporation (TSE:1766) announces a share repurchase program. Under the program, the company will repurchase up to 2,342,700 shares, representing 17.43% of its share capital, for ¥29,581.27 million. The shares will be repurchased at ¥12,627 per share. The repurchases will be funded from company's own funds. The purpose of program is to enhance shareholder's value and to enable the Company to execute a flexible capital policy in response to changes in the business environment. If the offer is oversubscribed the company may repurchase up to additional 100 shares. The offer will be valid till January 19, 2026. As of October 31, 2025, the company had 13,443,643 shares outstanding (excluding treasury shares) and 28,357 shares in treasury. Announcement • Dec 10
Token Corporation to Report Q2, 2026 Results on Dec 12, 2025 Token Corporation announced that they will report Q2, 2026 results on Dec 12, 2025 Reported Earnings • Sep 14
First quarter 2026 earnings released: EPS: JP¥314 (vs JP¥262 in 1Q 2025) First quarter 2026 results: EPS: JP¥314 (up from JP¥262 in 1Q 2025). Revenue: JP¥93.5b (up 5.0% from 1Q 2025). Net income: JP¥4.22b (up 20% from 1Q 2025). Profit margin: 4.5% (up from 4.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Consumer Durables 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 only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Sep 05
Token Corporation to Report Q1, 2026 Results on Sep 12, 2025 Token Corporation announced that they will report Q1, 2026 results on Sep 12, 2025 Announcement • Jul 25
Token Corporation Announces Demise of Minoru Souda, Chairman Token Corporation announced that Chairman of the Company, Mr. Minoru Souda, passed away on July 24, 2025,whereupon his position as a Representative Director of the Company was terminated on the same date. Date of birth is October 24, 1947 (passed away at the age of 79). Date of passing is July 24, 2025. Reported Earnings • Jun 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥1,174 (up from JP¥665 in FY 2024). Revenue: JP¥366.6b (up 7.6% from FY 2024). Net income: JP¥15.8b (up 76% from FY 2024). Profit margin: 4.3% (up from 2.6% 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 8.8%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 1.2% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 24% per year. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥330 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 29 July 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.6%). Reported Earnings • Mar 14
Third quarter 2025 earnings released: EPS: JP¥340 (vs JP¥149 in 3Q 2024) Third quarter 2025 results: EPS: JP¥340 (up from JP¥149 in 3Q 2024). Revenue: JP¥92.2b (up 8.5% from 3Q 2024). Net income: JP¥4.58b (up 129% from 3Q 2024). Profit margin: 5.0% (up from 2.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Japan are expected to remain flat. 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 11% per year. Announcement • Mar 07
Token Corporation to Report Q3, 2025 Results on Mar 13, 2025 Token Corporation announced that they will report Q3, 2025 results on Mar 13, 2025 Declared Dividend • Dec 14
Dividend of JP¥330 announced Shareholders will receive a dividend of JP¥330. Ex-date: 28th April 2025 Payment date: 29th July 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 12% 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 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 13
Second quarter 2025 earnings released: EPS: JP¥249 (vs JP¥145 in 2Q 2024) Second quarter 2025 results: EPS: JP¥249 (up from JP¥145 in 2Q 2024). Revenue: JP¥90.0b (up 6.8% from 2Q 2024). Net income: JP¥3.35b (up 73% from 2Q 2024). Profit margin: 3.7% (up from 2.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 06
Token Corporation to Report Q2, 2025 Results on Dec 12, 2024 Token Corporation announced that they will report Q2, 2025 results on Dec 12, 2024 Reported Earnings • Sep 15
First quarter 2025 earnings released: EPS: JP¥262 (vs JP¥140 in 1Q 2024) First quarter 2025 results: EPS: JP¥262 (up from JP¥140 in 1Q 2024). Revenue: JP¥89.0b (up 8.3% from 1Q 2024). Net income: JP¥3.52b (up 87% from 1Q 2024). Profit margin: 4.0% (up from 2.3% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Sep 07
Token Corporation to Report Q1, 2025 Results on Sep 12, 2024 Token Corporation announced that they will report Q1, 2025 results on Sep 12, 2024 Reported Earnings • Aug 04
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥665 (up from JP¥390 in FY 2023). Revenue: JP¥340.8b (up 7.6% from FY 2023). Net income: JP¥8.94b (up 71% from FY 2023). Profit margin: 2.6% (up from 1.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥12,320, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Consumer Durables industry in Japan. Total returns to shareholders of 33% over the past three years. Reported Earnings • Jun 17
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥665 (up from JP¥390 in FY 2023). Revenue: JP¥340.8b (up 7.6% from FY 2023). Net income: JP¥8.94b (up 71% from FY 2023). Profit margin: 2.6% (up from 1.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Jun 14
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 5.8% 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 Share price has been volatile over the past 3 months (5.8% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin). Upcoming Dividend • Apr 19
Upcoming dividend of JP¥250 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 28 July 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 14
Third quarter 2024 earnings released: EPS: JP¥149 (vs JP¥108 in 3Q 2023) Third quarter 2024 results: EPS: JP¥149 (up from JP¥108 in 3Q 2023). Revenue: JP¥85.0b (up 6.9% from 3Q 2023). Net income: JP¥2.00b (up 38% from 3Q 2023). Profit margin: 2.4% (up from 1.8% in 3Q 2023). 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 1.9% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Token Corporation to Report Q3, 2024 Results on Mar 13, 2024 Token Corporation announced that they will report Q3, 2024 results on Mar 13, 2024 Reported Earnings • Dec 16
Second quarter 2024 earnings released: EPS: JP¥145 (vs JP¥151 in 2Q 2023) Second quarter 2024 results: EPS: JP¥145 (down from JP¥151 in 2Q 2023). Revenue: JP¥84.3b (up 6.8% from 2Q 2023). Net income: JP¥1.94b (down 4.1% from 2Q 2023). Profit margin: 2.3% (down from 2.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 13
Token Corporation Provides Dividend Guidance for the Year Ending April 2024 Token Corporation provided dividend guidance for the year ending April 2024. For the year, the company expects to pay a dividend of ¥250 against ¥250 paid last year. Announcement • Dec 08
Token Corporation to Report Q2, 2024 Results on Dec 13, 2023 Token Corporation announced that they will report Q2, 2024 results on Dec 13, 2023 Announcement • Sep 12
Token Corporation Announces Dividend Forecast for the Year Ending April 2024 Token Corporation announced dividend forecast for the year ending April 2024. For the year, the company expects dividend of JPY 250.00 per share. Announcement • Sep 08
Token Corporation to Report Q1, 2024 Results on Sep 12, 2023 Token Corporation announced that they will report Q1, 2024 results on Sep 12, 2023 Reported Earnings • Aug 02
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥390 (down from JP¥764 in FY 2022). Revenue: JP¥316.8b (up 1.7% from FY 2022). Net income: JP¥5.24b (down 49% from FY 2022). Profit margin: 1.7% (down from 3.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Jun 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 3.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jun 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥390 (down from JP¥764 in FY 2022). Revenue: JP¥316.8b (up 1.7% from FY 2022). Net income: JP¥5.24b (down 49% from FY 2022). Profit margin: 1.7% (down from 3.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jun 13
Token Corporation, Annual General Meeting, Jul 27, 2023 Token Corporation, Annual General Meeting, Jul 27, 2023. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥250 per share at 3.1% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 11
Third quarter 2023 earnings released: EPS: JP¥108 (vs JP¥216 in 3Q 2022) Third quarter 2023 results: EPS: JP¥108 (down from JP¥216 in 3Q 2022). Revenue: JP¥79.5b (flat on 3Q 2022). Net income: JP¥1.45b (down 50% from 3Q 2022). Profit margin: 1.8% (down from 3.7% in 3Q 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Dec 15
Second quarter 2023 earnings released: EPS: JP¥151 (vs JP¥186 in 2Q 2022) Second quarter 2023 results: EPS: JP¥151 (down from JP¥186 in 2Q 2022). Revenue: JP¥78.9b (up 3.1% from 2Q 2022). Net income: JP¥2.03b (down 19% from 2Q 2022). Profit margin: 2.6% (down from 3.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Announcement • Dec 08
Token Corporation to Report Q2, 2023 Results on Dec 13, 2022 Token Corporation announced that they will report Q2, 2023 results on Dec 13, 2022 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. No independent directors (5 non-independent directors). External Director Michihiro Shida was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 14
First quarter 2023 earnings released: EPS: JP¥160 (vs JP¥184 in 1Q 2022) First quarter 2023 results: EPS: JP¥160 (down from JP¥184 in 1Q 2022). Revenue: JP¥76.1b (up 2.6% from 1Q 2022). Net income: JP¥2.15b (down 13% from 1Q 2022). Profit margin: 2.8% (down from 3.3% in 1Q 2022). 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 3.6% growth forecast for the Consumer Durables industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Announcement • Sep 09
Token Corporation to Report Q1, 2023 Results on Sep 12, 2022 Token Corporation announced that they will report Q1, 2023 results on Sep 12, 2022 Reported Earnings • Aug 03
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥764 (up from JP¥750 in FY 2021). Revenue: JP¥311.6b (flat on FY 2021). Net income: JP¥10.3b (up 1.9% from FY 2021). Profit margin: 3.3% (in line with FY 2021). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 5.6%, compared to a 11% growth forecast for the industry in Japan. 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 12% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥7,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Consumer Durables industry in Japan. Total returns to shareholders of 23% over the past three years. Announcement • Jun 15
Token Corporation, Annual General Meeting, Jul 28, 2022 Token Corporation, Annual General Meeting, Jul 28, 2022. Reported Earnings • Jun 14
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥764 (up from JP¥750 in FY 2021). Revenue: JP¥311.6b (flat on FY 2021). Net income: JP¥10.3b (up 1.9% from FY 2021). Profit margin: 3.3% (in line with FY 2021). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 7.8%, compared to a 8.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Jun 12
Token Corporation to Report Fiscal Year 2022 Results on Jun 13, 2022 Token Corporation announced that they will report fiscal year 2022 results on Jun 13, 2022 Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. No independent directors (5 non-independent directors). External Director Michihiro Shida was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥250 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 30 July 2022. Payout ratio is a comfortable 30% and the cash payout ratio is 91%. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 15
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥216 (down from JP¥218 in 3Q 2021). Revenue: JP¥79.3b (up 3.4% from 3Q 2021). Net income: JP¥2.90b (down 1.1% from 3Q 2021). Profit margin: 3.7% (down from 3.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 6.3%, compared to a 5.2% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Dec 16
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: JP¥186 (up from JP¥176 in 2Q 2021). Revenue: JP¥76.5b (down 2.1% from 2Q 2021). Net income: JP¥2.51b (up 6.1% from 2Q 2021). Profit margin: 3.3% (up from 3.0% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 19%. Earnings per share (EPS) surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 7.8%, compared to a 5.7% growth forecast for the industry in Japan. 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 15% per year, which means it is well ahead of earnings. Reported Earnings • Sep 15
First quarter 2022 earnings released: EPS JP¥184 (vs JP¥197 in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥74.2b (down 2.6% from 1Q 2021). Net income: JP¥2.47b (down 6.8% from 1Q 2021). Profit margin: 3.3% (down from 3.5% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Sep 12
Token Corporation Provides Earnings Guidance for the period Ending October 2021 and Ending April 30, 2022 Token Corporation provided earnings guidance for the period ending October 2021 and ending April 30, 2022. For the October 2021, the company expects net sales to be JPY 145,634 million, operating profit to be JPY 5,724 million, profit attributable to owners of parent to be JPY 3,836 million and basic earnings per share to be JPY 285.38.
For the April 30, 2022, the company expects net sales to be JPY 318,955 million, operating profit to be JPY 15,965 million, profit attributable to owners of parent to be JPY 11,468 million and basic earnings per share to be JPY 852.98. Reported Earnings • Aug 03
Full year 2021 earnings released: EPS JP¥750 (vs JP¥640 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¥309.8b (down 4.2% from FY 2020). Net income: JP¥10.1b (up 17% from FY 2020). Profit margin: 3.3% (up from 2.7% 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 9% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS JP¥750 (vs JP¥640 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¥309.8b (down 4.2% from FY 2020). Net income: JP¥10.1b (up 17% from FY 2020). Profit margin: 3.3% (up from 2.7% 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 9% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jun 15
Token Corporation Announces Consolidated Earnings Guidance for the Period Ending October 2021 and April 2022 Token Corporation announced consolidated earnings guidance for the period ending April 2022 and October 2021. For the period ending October 2021, the company expects Net sales of JPY 145,634 million, Operating profit of JPY 5,724 million, Ordinary profit of JPY 5,882 million, Profit attributable to owners of parent of JPY 3,836 million and basic EPS of JPY 285.38.
For the period ending April 2022, the company expects Net sales of JPY 318,955 million, Operating profit of JPY 15,965 million, Ordinary profit of JPY 16,282 million, Profit attributable to owners of parent of JPY 11,468 million and basic EPS of JPY 852.98. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥220 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 30 July 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.8%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 14
Third quarter 2021 earnings released: EPS JP¥218 (vs JP¥177 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥76.7b (down 5.9% from 3Q 2020). Net income: JP¥2.93b (up 24% from 3Q 2020). Profit margin: 3.8% (up from 2.9% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Over the next year, revenue is forecast to stay flat compared to a 6.5% growth forecast for the Consumer Durables industry in Japan. Announcement • Mar 11
Token Corporation to Report Q3, 2021 Results on Mar 12, 2021 Token Corporation announced that they will report Q3, 2021 results on Mar 12, 2021 Is New 90 Day High Low • Mar 05
New 90-day high: JP¥8,900 The company is up 13% from its price of JP¥7,910 on 04 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 13% over the same period. Is New 90 Day High Low • Feb 03
New 90-day high: JP¥8,430 The company is up 5.0% from its price of JP¥8,010 on 05 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 20% over the same period. Reported Earnings • Dec 13
Second quarter 2021 earnings released: EPS JP¥176 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: JP¥78.2b (down 3.4% from 2Q 2020). Net income: JP¥2.36b (up 25% from 2Q 2020). Profit margin: 3.0% (up from 2.3% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 17% per year. Analyst Estimate Surprise Post Earnings • Dec 13
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.7%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Over the next year, revenue is forecast to stay flat compared to a 3.3% growth forecast for the Consumer Durables industry in Japan.