Announcement • Jun 03
Noritsu Koki Co., Ltd. to Report Q2, 2026 Results on Aug 14, 2026 Noritsu Koki Co., Ltd. announced that they will report Q2, 2026 results at 9:00 AM, Tokyo Standard Time on Aug 14, 2026 Reported Earnings • May 20
First quarter 2026 earnings released: EPS: JP¥52.71 (vs JP¥26.36 in 1Q 2025) First quarter 2026 results: EPS: JP¥52.71 (up from JP¥26.36 in 1Q 2025). Revenue: JP¥40.3b (up 48% from 1Q 2025). Net income: JP¥5.65b (up 100% from 1Q 2025). Profit margin: 14% (up from 10% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Leisure 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 39% per year, which means it is tracking significantly ahead of earnings growth. Live News • May 16
Noritsu Koki Sees Q1 Growth With SENQCIA and Alpha Theta as Management Flags Cautious Outlook Noritsu Koki reported strong FY26 Q1 growth, with performance supported by SENQCIA and Alpha Theta as well as the impact of a weak yen.
The consolidation of SENQCIA contributed to higher revenue and profit in the quarter.
Management kept a cautious full-year outlook, citing supply chain disruptions and geopolitical risks, and released detailed Q1 and full-year forecast materials to improve transparency.
The combination of business expansion, currency effects and the SENQCIA consolidation indicates that multiple drivers are currently supporting Noritsu Koki’s results, even as management acknowledges external headwinds.
For investors, the key trade-off is between the current growth momentum and the company’s own caution regarding supply chain and geopolitical risk. It may be useful to monitor any updates to full-year guidance and segment-level trends in SENQCIA and Alpha Theta. Declared Dividend • Apr 11
Final dividend of JP¥37.00 announced Shareholders will receive a dividend of JP¥37.00. Ex-date: 29th June 2026 Payment date: 1st September 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 40% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 04
Price target increased by 20% to JP¥3,110 Up from JP¥2,600, the current price target is provided by 1 analyst. New target price is 47% above last closing price of JP¥2,122. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥168 for next year compared to JP¥147 last year. Announcement • Feb 16
Noritsu Koki Co., Ltd., Annual General Meeting, Mar 26, 2026 Noritsu Koki Co., Ltd., Annual General Meeting, Mar 26, 2026. Reported Earnings • Feb 14
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥147 (up from JP¥133 in FY 2024). Revenue: JP¥119.2b (up 12% from FY 2024). Net income: JP¥15.6b (up 10.0% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 6.3%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 02
Noritsu Koki Co., Ltd. (TSE:7744) completed the acquisition of Senqcia Corporation from Lone Star Fund XI, L.P., a fund managed by Lone Star Americas Acquisitions, Inc. Noritsu Koki Co., Ltd. (TSE:7744) entered into a definitive agreement to acquire Senqcia Corporation from Lone Star Fund XI, L.P., a fund managed by Lone Star Americas Acquisitions, Inc. for ¥69 billion on January 15, 2026. A cash consideration of ¥69 billion will be paid by Noritsu Koki Co., Ltd. As part of consideration, ¥69 billion is paid towards common equity of Senqcia Corporation. The transaction will be financed through of cash on hand of ¥30 billion together with an additional ¥50 billion raised through a bridge loan. For this transaction, Senqcia Corporation's enterprise value has been calculated at approximately ¥80 billion.
For the period ending March 31, 2025, Senqcia Corporation reported total revenue of ¥35.41 billion, EBIT of ¥5.13 billion, EBITDA of ¥9.19 billion and net income of ¥2.12 billion. As of March 31, 2025, Senqcia Corporation reported total assets of ¥75.96 billion total common equity of ¥29.26 billion.
The transaction is subject to customary closing conditions and approvals. The expected completion of the transaction is February 2, 2026.
Noritsu Koki Co., Ltd. (TSE:7744) completed the acquisition of Senqcia Corporation from Lone Star Fund XI, L.P., a fund managed by Lone Star Americas Acquisitions, Inc. on February 2, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. Payout ratio is a comfortable 26% 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 (2.2%). Announcement • Dec 18
Noritsu Koki Co., Ltd. to Report Fiscal Year 2025 Results on Feb 13, 2026 Noritsu Koki Co., Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Feb 13, 2026 Major Estimate Revision • Dec 04
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥113.8b to JP¥116.9b. EPS estimate increased from JP¥119 to JP¥138 per share. Net income forecast to shrink 6.0% next year vs 1.4% growth forecast for Leisure industry in Japan . Consensus price target up from JP¥2,573 to JP¥2,633. Share price was steady at JP¥1,808 over the past week. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: JP¥57.26 (vs JP¥13.48 in 3Q 2024) Third quarter 2025 results: EPS: JP¥57.26 (up from JP¥13.48 in 3Q 2024). Revenue: JP¥30.4b (up 19% from 3Q 2024). Net income: JP¥6.07b (up 321% from 3Q 2024). Profit margin: 20% (up from 5.6% in 3Q 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Sep 04
Noritsu Koki Co., Ltd. to Report Q3, 2025 Results on Nov 14, 2025 Noritsu Koki Co., Ltd. announced that they will report Q3, 2025 results on Nov 14, 2025 Declared Dividend • Sep 02
First half dividend of JP¥37.00 announced Shareholders will receive a dividend of JP¥37.00. Ex-date: 29th December 2025 Payment date: 30th March 2026 Dividend yield will be 8.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 39% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Aug 26
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥112.0b to JP¥113.8b. EPS estimate increased from JP¥105 to JP¥119 per share. Net income forecast to grow 12% next year vs 8.1% growth forecast for Leisure industry in Japan. Consensus price target up from JP¥2,418 to JP¥2,573. Share price rose 4.9% to JP¥1,684 over the past week. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 02 September 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.9%). Announcement • Jun 03
Noritsu Koki Co., Ltd. to Report Q2, 2025 Results on Aug 08, 2025 Noritsu Koki Co., Ltd. announced that they will report Q2, 2025 results on Aug 08, 2025 Declared Dividend • May 15
Dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 27th June 2025 Payment date: 2nd September 2025 Dividend yield will be 5.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 39% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: JP¥79.07 (vs JP¥146 in 1Q 2024) First quarter 2025 results: EPS: JP¥79.07 (down from JP¥146 in 1Q 2024). Revenue: JP¥27.2b (up 1.0% from 1Q 2024). Net income: JP¥2.82b (down 46% from 1Q 2024). Profit margin: 10% (down from 19% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Industrials industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. New Risk • Apr 08
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 6.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥4,090, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Industrials industry in Japan. Total returns to shareholders of 113% over the past three years. Announcement • Mar 13
Noritsu Koki Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Noritsu Koki Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Announcement • Mar 04
Noritsu Koki Co., Ltd. (TSE:7744) announces an Equity Buyback for 500,000 shares, representing 1.4% for ¥2,000 million. Noritsu Koki Co., Ltd. (TSE:7744) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 1.4% of its share capital, for ¥2,000 million. The program will run until June 30, 2025. Major Estimate Revision • Feb 26
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from JP¥109.5b to JP¥113.0b. EPS estimate fell from JP¥395 to JP¥336 per share. Net income forecast to shrink 16% next year vs 2.7% decline forecast for Industrials industry in Japan. Consensus price target of JP¥7,270 unchanged from last update. Share price fell 8.0% to JP¥4,395 over the past week. Announcement • Feb 17
Noritsu Koki Co., Ltd., Annual General Meeting, Mar 27, 2025 Noritsu Koki Co., Ltd., Annual General Meeting, Mar 27, 2025. Reported Earnings • Feb 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥398 (up from JP¥286 in FY 2023). Revenue: JP¥106.5b (up 16% from FY 2023). Net income: JP¥14.2b (up 40% from FY 2023). Profit margin: 13% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Industrials industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 37% per year. Price Target Changed • Jan 17
Price target increased by 16% to JP¥7,270 Up from JP¥6,260, the current price target is an average from 2 analysts. New target price is 48% above last closing price of JP¥4,920. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥401 for next year compared to JP¥286 last year. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥58.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 March 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.3%). New Risk • Dec 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 5.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Announcement • Dec 05
Noritsu Koki Co., Ltd. to Report Fiscal Year 2024 Results on Feb 14, 2025 Noritsu Koki Co., Ltd. announced that they will report fiscal year 2024 results on Feb 14, 2025 Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: JP¥40.45 (vs JP¥94.92 in 3Q 2023) Third quarter 2024 results: EPS: JP¥40.45 (down from JP¥94.92 in 3Q 2023). Revenue: JP¥25.7b (up 5.6% from 3Q 2023). Net income: JP¥1.44b (down 57% from 3Q 2023). Profit margin: 5.6% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Industrials 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 17% per year, which means it is significantly lagging earnings growth. Announcement • Sep 18
Noritsu Koki Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 Noritsu Koki Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥122 (vs JP¥95.14 in 2Q 2023) Second quarter 2024 results: EPS: JP¥122 (up from JP¥95.14 in 2Q 2023). Revenue: JP¥25.5b (up 5.8% from 2Q 2023). Net income: JP¥4.35b (up 28% from 2Q 2023). Profit margin: 17% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Industrials industry in Japan. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to JP¥2,903, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Industrials industry in Japan. Total returns to shareholders of 45% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥58.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 04 September 2024. Payout ratio is a comfortable 29% and the cash payout ratio is 76%. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). New Risk • Jun 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.5% average weekly change). Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jun 08
Noritsu Koki Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 Noritsu Koki Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 Announcement • Jun 01
MediPal Holdings Corporation (TSE:7459) completed the acquisition of PreMedica Inc. from Noritsu Koki Co., Ltd. (TSE:7744). MediPal Holdings Corporation (TSE:7459) agreed to acquire PreMedica Inc. from Noritsu Koki Co., Ltd. (TSE:7744) for ¥3.8 billion on April 30, 2024. Transaction has already been approved by Noritsu Koki's board of director's. Transaction is expected to complete on May 31, 2024.MediPal Holdings Corporation (TSE:7459) completed the acquisition of PreMedica Inc. from Noritsu Koki Co., Ltd. (TSE:7744) on May 31, 2024. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥3,825, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Industrials industry in Japan. Total returns to shareholders of 93% over the past three years. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: JP¥147 (vs JP¥29.45 in 1Q 2023) First quarter 2024 results: EPS: JP¥147 (up from JP¥29.45 in 1Q 2023). Revenue: JP¥27.3b (up 57% from 1Q 2023). Net income: JP¥5.23b (up 398% from 1Q 2023). Profit margin: 19% (up from 6.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Industrials industry in Japan. Announcement • May 01
MediPal Holdings Corporation (TSE:7459) agreed to acquire PreMedica Inc. from Noritsu Koki Co., Ltd. (TSE:7744) for ¥3.8 billion. MediPal Holdings Corporation (TSE:7459) agreed to acquire PreMedica Inc. from Noritsu Koki Co., Ltd. (TSE:7744) for ¥3.8 billion on April 30, 2024. Transaction has already been approved by Noritsu Koki's board of director's. Transaction is expected to complete on May 31, 2024. Board Change • Apr 01
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. 4 experienced directors. 2 highly experienced directors. Outside Independent Director Tsuyoshi Takada was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥286 (up from JP¥112 in FY 2022). Revenue: JP¥91.6b (up 25% from FY 2022). Net income: JP¥10.2b (up 155% from FY 2022). Profit margin: 11% (up from 5.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Industrials industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Announcement • Mar 06
Noritsu Koki Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Noritsu Koki Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Major Estimate Revision • Mar 05
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥102.0b to JP¥98.5b. EPS estimate also fell from JP¥321 per share to JP¥262 per share. Net income forecast to shrink 8.3% next year vs 0.7% decline forecast for Industrials industry in Japan. Consensus price target up from JP¥4,800 to JP¥5,540. Share price was steady at JP¥3,210 over the past week. Price Target Changed • Mar 04
Price target increased by 14% to JP¥5,540 Up from JP¥4,850, the current price target is provided by 1 analyst. New target price is 75% above last closing price of JP¥3,160. Stock is up 41% over the past year. The company is forecast to post earnings per share of JP¥262 for next year compared to JP¥286 last year. Reported Earnings • Feb 14
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥286 (up from JP¥112 in FY 2022). Revenue: JP¥91.6b (up 25% from FY 2022). Net income: JP¥10.2b (up 155% from FY 2022). Profit margin: 11% (up from 5.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, while revenues in the Industrials industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥25.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 25 March 2024. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.7%). Announcement • Dec 14
Noritsu Koki Co., Ltd. to Report Fiscal Year 2023 Results on Feb 13, 2024 Noritsu Koki Co., Ltd. announced that they will report fiscal year 2023 results on Feb 13, 2024 Major Estimate Revision • Nov 21
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from JP¥87.4b to JP¥89.8b. EPS estimate increased from JP¥238 to JP¥273 per share. Net income forecast to grow 25% next year vs 3.5% growth forecast for Industrials industry in Japan. Consensus price target broadly unchanged at JP¥4,800. Share price rose 4.2% to JP¥3,035 over the past week. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: JP¥94.89 (vs JP¥50.62 in 3Q 2022) Third quarter 2023 results: EPS: JP¥94.89 (up from JP¥50.62 in 3Q 2022). Revenue: JP¥24.3b (up 34% from 3Q 2022). Net income: JP¥3.39b (up 88% from 3Q 2022). Profit margin: 14% (up from 10.0% in 3Q 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, while revenues in the Industrials industry in Japan are expected to remain flat. 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 12% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 08
Noritsu Koki Co., Ltd. to Report Q3, 2023 Results on Nov 13, 2023 Noritsu Koki Co., Ltd. announced that they will report Q3, 2023 results on Nov 13, 2023 Major Estimate Revision • Aug 23
Consensus EPS estimates increase by 39% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from JP¥80.4b to JP¥86.2b. EPS estimate increased from JP¥162 to JP¥225 per share. Net income forecast to grow 28% next year vs 11% growth forecast for Industrials industry in Japan. Consensus price target up from JP¥4,190 to JP¥4,850. Share price rose 11% to JP¥2,948 over the past week. New Risk • Aug 15
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 5.6% 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 (5.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥95.14 (up from JP¥26.70 in 2Q 2022). Revenue: JP¥24.1b (up 39% from 2Q 2022). Net income: JP¥3.40b (up 257% from 2Q 2022). Profit margin: 14% (up from 5.5% in 2Q 2022). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Industrials industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥24.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 04 September 2023. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (1.8%). Announcement • May 31
Noritsu Koki Co., Ltd. to Report Q2, 2023 Results on Aug 10, 2023 Noritsu Koki Co., Ltd. announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 16
First quarter 2023 earnings released: EPS: JP¥29.45 (vs JP¥32.58 in 1Q 2022) First quarter 2023 results: EPS: JP¥29.45 (down from JP¥32.58 in 1Q 2022). Revenue: JP¥17.4b (up 22% from 1Q 2022). Net income: JP¥1.05b (down 9.6% from 1Q 2022). Profit margin: 6.0% (down from 8.2% in 1Q 2022). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 2.3% decline forecast for the Industrials 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 only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 29
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥112 (down from JP¥168 in FY 2021). Revenue: JP¥73.5b (down 2.4% from FY 2021). Net income: JP¥4.00b (down 33% from FY 2021). Profit margin: 5.4% (down from 7.9% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, while revenues in the Industrials industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 34% per year. Major Estimate Revision • Mar 10
Consensus EPS estimates fall by 14%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from JP¥78.7b to JP¥81.1b. EPS estimate fell from JP¥146 to JP¥126 per share. Net income forecast to grow 13% next year vs 4.2% growth forecast for Industrials industry in Japan. Consensus price target up from JP¥3,230 to JP¥4,190. Share price rose 8.6% to JP¥2,437 over the past week. Reported Earnings • Feb 19
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: JP¥112 (down from JP¥168 in FY 2021). Revenue: JP¥73.5b (down 2.4% from FY 2021). Net income: JP¥4.00b (down 33% from FY 2021). Profit margin: 5.4% (down from 7.9% in FY 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, while revenues in the Industrials industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥131 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 4.0% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.0%). Announcement • Dec 08
Noritsu Koki Co., Ltd. to Report Fiscal Year 2022 Results on Feb 14, 2023 Noritsu Koki Co., Ltd. announced that they will report fiscal year 2022 results on Feb 14, 2023 Board Change • Nov 16
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. 5 experienced directors. 1 highly experienced director. External Independent Director Munekazu Kontani 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: Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: JP¥50.59 (vs JP¥66.54 in 3Q 2021) Third quarter 2022 results: EPS: JP¥50.59 (down from JP¥66.54 in 3Q 2021). Revenue: JP¥18.1b (down 23% from 3Q 2021). Net income: JP¥1.80b (down 24% from 3Q 2021). Profit margin: 10.0% (in line with 3Q 2021). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Industrials industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Sep 09
Noritsu Koki Co., Ltd. to Report Q3, 2022 Results on Nov 11, 2022 Noritsu Koki Co., Ltd. announced that they will report Q3, 2022 results on Nov 11, 2022 Major Estimate Revision • Aug 25
Consensus revenue estimates increase by 12% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from JP¥65.5b to JP¥73.6b. EPS estimate increased from JP¥2,839 to JP¥2,907 per share. Net income forecast to grow 804% next year vs 1.4% growth forecast for Industrials industry in Japan. Consensus price target of JP¥2,800 unchanged from last update. Share price was steady at JP¥2,500 over the past week. Reported Earnings • Aug 14
Second quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2022 results: EPS: JP¥27.34. Revenue: JP¥17.3b (flat on 2Q 2021). Net income: JP¥975.0m (up JP¥975.0m from 2Q 2021). Profit margin: 5.6% (up from null in 2Q 2021). Revenue exceeded analyst estimates by 8.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 7.1% compared to a 6.6% decline forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Noritsu Koki Co., Ltd. to Report Q2, 2022 Results on Aug 12, 2022 Noritsu Koki Co., Ltd. announced that they will report Q2, 2022 results on Aug 12, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 05 September 2022. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.8%). Reported Earnings • May 17
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: JP¥31.94. Revenue: JP¥14.2b (flat on 1Q 2021). Net income: JP¥1.14b (up JP¥1.14b from 1Q 2021). Profit margin: 8.0% (up from null in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 50%. Over the next year, revenue is expected to shrink by 9.5% compared to a 5.9% decline forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥2,800 Down from JP¥5,660, the current price target is an average from 3 analysts. New target price is 32% above last closing price of JP¥2,125. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥2,739 for next year compared to JP¥168 last year. 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. 5 experienced directors. 1 highly experienced director. External Independent Director Munekazu Kontani 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: Insufficient board refreshment. Announcement • Apr 08
Noritsu Koki Co., Ltd. to Report Q1, 2022 Results on May 13, 2022 Noritsu Koki Co., Ltd. announced that they will report Q1, 2022 results on May 13, 2022 Major Estimate Revision • Mar 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from JP¥90.6b to JP¥65.8b. EPS estimate unchanged at JP¥126 per share. Net income forecast to shrink 13% next year vs 12% decline forecast for Industrials industry in Japan. Consensus price target down from JP¥5,660 to JP¥2,800. Share price rose 8.4% to JP¥2,016 over the past week. Announcement • Feb 17
Noritsu Koki Co., Ltd., Annual General Meeting, Mar 24, 2022 Noritsu Koki Co., Ltd., Annual General Meeting, Mar 24, 2022. Reported Earnings • Feb 16
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: JP¥168 (down from JP¥185 in FY 2020). Revenue: JP¥75.3b (up 31% from FY 2020). Net income: JP¥5.97b (down 9.5% from FY 2020). Profit margin: 7.9% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 50%. Over the next year, revenue is forecast to grow 20% compared to a 3.2% decline forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 29 March 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥2,660, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 13x in the Industrials industry in Japan. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥2,751, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Industrials industry in Japan. Negligible returns to shareholders over past three years. Price Target Changed • Aug 20
Price target increased to JP¥4,630 Up from JP¥4,170, the current price target is an average from 2 analysts. New target price is 94% above last closing price of JP¥2,392. Stock is up 56% over the past year. Major Estimate Revision • May 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from JP¥59.8b to JP¥81.3b. EPS estimate fell from JP¥119 to JP¥107. Net income forecast to shrink 42% next year vs 4.6% growth forecast for Industrials industry in Japan . Consensus price target down from JP¥4,400 to JP¥4,170. Share price was steady at JP¥2,390 over the past week.