Announcement • Jun 25
YONEX Co., Ltd. to Report Q1, 2027 Results on Aug 10, 2026 YONEX Co., Ltd. announced that they will report Q1, 2027 results on Aug 10, 2026 Reported Earnings • Jun 23
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥141 (up from JP¥123 in FY 2025). Revenue: JP¥163.6b (up 18% from FY 2025). Net income: JP¥12.1b (up 14% from FY 2025). Profit margin: 7.4% (down from 7.7% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.3%. Revenue is forecast to grow 9.1% 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 22% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • May 13
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥141 (up from JP¥123 in FY 2025). Revenue: JP¥163.6b (up 18% from FY 2025). Net income: JP¥12.1b (up 14% from FY 2025). Profit margin: 7.4% (down from 7.7% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.3%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 23% per year. Announcement • May 12
YONEX Co., Ltd., Annual General Meeting, Jun 24, 2026 YONEX Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • May 10
YONEX Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 YONEX Co., Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.3%). Buy Or Sell Opportunity • Mar 19
Now 22% undervalued Over the last 90 days, the stock has risen 1.6% to JP¥3,265. The fair value is estimated to be JP¥4,210, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥37.86 (vs JP¥44.51 in 3Q 2025) Third quarter 2026 results: EPS: JP¥37.86 (down from JP¥44.51 in 3Q 2025). Revenue: JP¥40.9b (up 18% from 3Q 2025). Net income: JP¥3.24b (down 15% from 3Q 2025). Profit margin: 7.9% (down from 11% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% 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 22% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 16
Price target increased by 18% to JP¥4,100 Up from JP¥3,467, the current price target is an average from 2 analysts. New target price is 23% above last closing price of JP¥3,345. Stock is up 70% over the past year. The company is forecast to post earnings per share of JP¥143 for next year compared to JP¥123 last year. Announcement • Dec 25
YONEX Co., Ltd. to Report Q3, 2026 Results on Feb 10, 2026 YONEX Co., Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Declared Dividend • Dec 09
First half dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 59%. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥24.96 (vs JP¥30.35 in 2Q 2025) Second quarter 2026 results: EPS: JP¥24.96 (down from JP¥30.35 in 2Q 2025). Revenue: JP¥39.7b (up 11% from 2Q 2025). Net income: JP¥2.13b (down 19% from 2Q 2025). Profit margin: 5.4% (down from 7.3% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% 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 21% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 25
YONEX Co., Ltd. to Report Q2, 2026 Results on Nov 07, 2025 YONEX Co., Ltd. announced that they will report Q2, 2026 results on Nov 07, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to JP¥4,150, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 13x in the Leisure industry in Japan. Total returns to shareholders of 178% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,970 per share. Buy Or Sell Opportunity • Aug 12
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 52% to JP¥3,790. The fair value is estimated to be JP¥2,992, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 4.1% per annum over the same time period. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥49.59 (vs JP¥32.33 in 1Q 2025) First quarter 2026 results: EPS: JP¥49.59 (up from JP¥32.33 in 1Q 2025). Revenue: JP¥39.9b (up 28% from 1Q 2025). Net income: JP¥4.24b (up 52% from 1Q 2025). Profit margin: 11% (up from 9.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Leisure 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. Board Change • Jul 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent External Director Duncan Ryuken Williams was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 29%. Announcement • Jun 25
YONEX Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 YONEX Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Price Target Changed • Jun 10
Price target increased by 17% to JP¥2,800 Up from JP¥2,393, the current price target is an average from 3 analysts. New target price is 5.2% below last closing price of JP¥2,955. Stock is up 59% over the past year. The company is forecast to post earnings per share of JP¥131 for next year compared to JP¥123 last year. Price Target Changed • May 27
Price target increased by 10% to JP¥2,493 Up from JP¥2,260, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥2,570. Stock is up 68% over the past year. The company is forecast to post earnings per share of JP¥127 for next year compared to JP¥123 last year. Reported Earnings • May 10
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥123 (up from JP¥102 in FY 2024). Revenue: JP¥138.3b (up 19% from FY 2024). Net income: JP¥10.6b (up 20% from FY 2024). Profit margin: 7.7% (up from 7.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 4.4%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
YONEX Co., Ltd., Annual General Meeting, Jun 25, 2025 YONEX Co., Ltd., Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,988, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Leisure industry in Japan. Total returns to shareholders of 116% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,245 per share. Announcement • Mar 25
YONEX Co., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 YONEX Co., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥44.51 (vs JP¥22.15 in 3Q 2024) Third quarter 2025 results: EPS: JP¥44.51 (up from JP¥22.15 in 3Q 2024). Revenue: JP¥34.8b (up 27% from 3Q 2024). Net income: JP¥3.82b (up 103% from 3Q 2024). Profit margin: 11% (up from 6.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 22
Now 21% undervalued Over the last 90 days, the stock has risen 3.0% to JP¥2,057. The fair value is estimated to be JP¥2,606, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Announcement • Jan 03
YONEX Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 YONEX Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Declared Dividend • Dec 07
First half dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (33% 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 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Nov 27
Price target increased by 7.6% to JP¥2,260 Up from JP¥2,100, the current price target is an average from 3 analysts. New target price is 15% above last closing price of JP¥1,968. Stock is up 43% over the past year. The company is forecast to post earnings per share of JP¥115 for next year compared to JP¥102 last year. Announcement • Nov 15
YONEX Co., Ltd. (TSE:7906) announces an Equity Buyback for 1,184,000 shares, for ¥2,399.97 million. YONEX Co., Ltd. (TSE:7906) announces a share repurchase program. Under the program, the company will repurchase up to 1,184,000 shares, representing 1.27% of its issued share capital, for ¥2,399.97 million. The repurchases will be made at a price of ¥2,027 per share. The purpose of the buyback is to implement flexible capital policies in response to changes in the business environment. The program will expire on November 15, 2024. As of October 31, 2024, the company had 92,870,800 issued shares excluding treasury shares and 6,245,230 treasury shares. New Risk • Nov 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥30.35 (vs JP¥22.61 in 2Q 2024) Second quarter 2025 results: EPS: JP¥30.35 (up from JP¥22.61 in 2Q 2024). Revenue: JP¥35.9b (up 21% from 2Q 2024). Net income: JP¥2.63b (up 33% from 2Q 2024). Profit margin: 7.3% (up from 6.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Leisure 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 increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 25
YONEX Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 YONEX Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.5%). Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥32.33 (vs JP¥27.81 in 1Q 2024) First quarter 2025 results: EPS: JP¥32.33 (up from JP¥27.81 in 1Q 2024). Revenue: JP¥31.1b (up 11% from 1Q 2024). Net income: JP¥2.80b (up 15% from 1Q 2024). Profit margin: 9.0% (up from 8.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 1.0%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 18% 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 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
YONEX Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 YONEX Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Price Target Changed • Jun 06
Price target increased by 11% to JP¥1,867 Up from JP¥1,675, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,811. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥106 for next year compared to JP¥102 last year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,792, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Leisure industry in Japan. Total returns to shareholders of 186% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,959 per share. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥1,566, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Leisure industry in Japan. Total returns to shareholders of 181% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,154 per share. Buy Or Sell Opportunity • May 13
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to JP¥1,521. The fair value is estimated to be JP¥1,144, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 3.2% per annum over the same time period. Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥102 (up from JP¥84.04 in FY 2023). Revenue: JP¥116.4b (up 8.8% from FY 2023). Net income: JP¥8.86b (up 21% from FY 2023). Profit margin: 7.6% (up from 6.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 29% per year. Announcement • May 11
YONEX Co., Ltd. Proposes Dividend for the Year Ended March 31, 2024 YONEX Co., Ltd. Proposed dividend for the year ended March 31, 2024. For the year, the company announced dividend of JPY 9.00 per share against a dividend of JPY 7.00 per share paid a year ago. Payable on June 26, 2024. Record date March 31, 2024. Announcement • Apr 23
YONEX Co., Ltd., Annual General Meeting, Jun 25, 2024 YONEX Co., Ltd., Annual General Meeting, Jun 25, 2024. Announcement • Mar 23
YONEX Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 YONEX Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥22.15 (vs JP¥12.70 in 3Q 2023) Third quarter 2024 results: EPS: JP¥22.15 (up from JP¥12.70 in 3Q 2023). Revenue: JP¥27.4b (down 7.1% from 3Q 2023). Net income: JP¥1.88b (up 70% from 3Q 2023). Profit margin: 6.9% (up from 3.8% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 22
Now 20% overvalued Over the last 90 days, the stock has fallen 21% to JP¥1,247. The fair value is estimated to be JP¥1,039, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Announcement • Dec 24
YONEX Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 YONEX Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Announcement • Nov 15
YONEX Co., Ltd. (TSE:7906) announces an Equity Buyback for 780,000 shares, for ¥1,103.7 million. YONEX Co., Ltd. (TSE:7906) announces a share repurchase program. Under the program, the company will repurchase up to 780,000 shares, representing 0.83% of its issued share capital (excluding treasury stock), for a total purchase price of ¥1,103.7 million. The shares will be repurchased at a price of ¥1,415 per share. The purpose of the program is to carry out flexible capital policy in response to changes in the business environment. As of October 31, 2023, the company had 93,620,800 issued shares (excluding treasury stock) and 6,351,256 treasury shares. New Risk • Nov 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). 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 (5.3% net profit margin). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥22.61 (vs JP¥29.44 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.61 (down from JP¥29.44 in 2Q 2023). Revenue: JP¥29.7b (up 13% from 2Q 2023). Net income: JP¥1.97b (down 23% from 2Q 2023). Profit margin: 6.6% (down from 9.7% in 2Q 2023). 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 4.4% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. New Risk • Oct 06
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 5.3% 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 (5.3% average weekly change). Profit margins are more than 30% lower than last year (6.0% net profit margin). Announcement • Sep 24
YONEX Co., Ltd. to Report Q2, 2024 Results on Nov 09, 2023 YONEX Co., Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥7.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.4%). Price Target Changed • Aug 17
Price target decreased by 12% to JP¥1,800 Down from JP¥2,035, the current price target is provided by 1 analyst. New target price is 39% above last closing price of JP¥1,298. Stock is down 17% over the past year. The company is forecast to post earnings per share of JP¥95.06 for next year compared to JP¥84.04 last year. New Risk • Aug 11
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: 6.0% Last year net profit margin: 9.6% 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 • Aug 10
First quarter 2024 earnings released: EPS: JP¥27.81 (vs JP¥34.67 in 1Q 2023) First quarter 2024 results: EPS: JP¥27.81 (down from JP¥34.67 in 1Q 2023). Revenue: JP¥28.0b (up 18% from 1Q 2023). Net income: JP¥2.42b (down 20% from 1Q 2023). Profit margin: 8.7% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jun 24
YONEX Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 YONEX Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 15
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: JP¥84.04 (up from JP¥66.11 in FY 2022). Revenue: JP¥107.0b (up 44% from FY 2022). Net income: JP¥7.33b (up 27% from FY 2022). Profit margin: 6.9% (down from 7.8% in FY 2022). 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 9.6% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Announcement • May 11
YONEX Co., Ltd., Annual General Meeting, Jun 23, 2023 YONEX Co., Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 24 June 2023. Payout ratio is a comfortable 9.4% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.4%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥12.70 (vs JP¥19.89 in 3Q 2022) Third quarter 2023 results: EPS: JP¥12.70 (down from JP¥19.89 in 3Q 2022). Revenue: JP¥29.5b (up 54% from 3Q 2022). Net income: JP¥1.11b (down 36% from 3Q 2022). Profit margin: 3.8% (down from 9.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be JP¥1,448, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 76%. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 2.7% in the next 2 years. Announcement • Dec 26
YONEX Co., Ltd. to Report Q3, 2023 Results on Feb 08, 2023 YONEX Co., Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Buying Opportunity • Dec 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be JP¥1,704, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 76%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 0.4% in the next 2 years. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥29.44 (vs JP¥27.38 in 2Q 2022) Second quarter 2023 results: EPS: JP¥29.44 (up from JP¥27.38 in 2Q 2022). Revenue: JP¥26.4b (up 42% from 2Q 2022). Net income: JP¥2.57b (up 7.2% from 2Q 2022). Profit margin: 9.7% (down from 13% in 2Q 2022). 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 4.1% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to JP¥1,800 Up from JP¥1,650, the current price target is an average from 2 analysts. New target price is 37% above last closing price of JP¥1,314. Stock is up 46% over the past year. The company is forecast to post earnings per share of JP¥86.87 for next year compared to JP¥66.10 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent External Director Mike Morizumi was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
YONEX Co., Ltd. (TSE:7906) announces an Equity Buyback for 220,000 shares, representing 0.25% for ¥294.36 million. YONEX Co., Ltd. (TSE:7906) announces a share repurchase program. Under the program, the company will repurchase up to 220,000 shares, representing 0.25% of its issued share capital for ¥294.36 million. The shares will be repurchased at a price ¥1,338 per share. The purpose of the program is to carry out agile capital policies in response to changes in the business environment. As of October 31, 2022, the company had 87,347,830 shares issued (excluding treasury stock) and 6,272,970 shares in treasury. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥29.44 (vs JP¥27.38 in 2Q 2022) Second quarter 2023 results: EPS: JP¥29.44 (up from JP¥27.38 in 2Q 2022). Revenue: JP¥26.4b (up 42% from 2Q 2022). Net income: JP¥2.57b (up 7.2% from 2Q 2022). Profit margin: 9.7% (down from 13% in 2Q 2022). 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 4.2% growth forecast for the Leisure industry in Japan. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
YONEX Co., Ltd. to Report Q2, 2023 Results on Nov 09, 2022 YONEX Co., Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022