Reported Earnings • Apr 29
Full year 2026 earnings released: EPS: JP¥426 (vs JP¥307 in FY 2025) Full year 2026 results: EPS: JP¥426 (up from JP¥307 in FY 2025). Revenue: JP¥306.2b (up 20% from FY 2025). Net income: JP¥9.18b (up 39% from FY 2025). Profit margin: 3.0% (up from 2.6% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 17% per year. Announcement • Apr 29
NEC Capital Solutions Limited, Annual General Meeting, Jun 26, 2026 NEC Capital Solutions Limited, Annual General Meeting, Jun 26, 2026. Announcement • Mar 31
NEC Capital Solutions Limited to Report Q4, 2026 Results on Apr 28, 2026 NEC Capital Solutions Limited announced that they will report Q4, 2026 results at 3:30 PM, Tokyo Standard Time on Apr 28, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.3%). Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: JP¥103 (vs JP¥118 in 3Q 2025) Third quarter 2026 results: EPS: JP¥103 (down from JP¥118 in 3Q 2025). Revenue: JP¥73.5b (up 12% from 3Q 2025). Net income: JP¥2.22b (down 13% from 3Q 2025). Profit margin: 3.0% (down from 3.9% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 26
NEC Capital Solutions Limited to Report Q3, 2026 Results on Jan 29, 2026 NEC Capital Solutions Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Dec 11
First half dividend of JP¥75.00 announced Dividend of JP¥75.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 5th June 2026 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 50% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥108 (vs JP¥50.47 in 2Q 2025) Second quarter 2026 results: EPS: JP¥108 (up from JP¥50.47 in 2Q 2025). Revenue: JP¥68.4b (up 10.0% from 2Q 2025). Net income: JP¥2.33b (up 114% from 2Q 2025). Profit margin: 3.4% (up from 1.7% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 10
Keihanshin Building Co., Ltd. (TSE:8818) and Tokyu Land Corporation reached an agreement to acquire 25% stake in Healthcare Asset Management Co., Ltd. from NEC Capital Solutions Limited (TSE:8793). Keihanshin Building Co., Ltd. (TSE:8818) and Tokyu Land Corporation reached an agreement to acquire 25% stake in Healthcare Asset Management Co., Ltd. from NEC Capital Solutions Limited (TSE:8793) on September 30, 2025. NEC Capital Solutions Limited will transfer 300 shares (5% of the total issued shares) of its 2,000 shares in HAM to the Company, and 1,200 shares (20% of the total issued shares) to TOKYU LAND.
The transaction has been approved by the board of Keihanshin Building Co., Ltd. The expected completion of the transaction is October 14, 2025. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Announcement • Sep 04
NEC Capital Solutions Limited to Report Q2, 2026 Results on Oct 30, 2025 NEC Capital Solutions Limited announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: JP¥101 (vs JP¥107 in 1Q 2025) First quarter 2026 results: EPS: JP¥101 (down from JP¥107 in 1Q 2025). Revenue: JP¥65.0b (up 5.7% from 1Q 2025). Net income: JP¥2.18b (down 5.0% from 1Q 2025). Profit margin: 3.4% (down from 3.7% in 1Q 2025). The decrease in margin was driven by higher expenses. 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 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
NEC Capital Solutions Limited to Report Q1, 2026 Results on Jul 30, 2025 NEC Capital Solutions Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Announcement • Jun 24
SBI Shinsei Bank, Limited completed the acquisition of an additional 10.19% stake in NEC Capital Solutions Limited (TSE:8793) for ¥8.2 billion. SBI Shinsei Bank, Limited proposed to acquire an additional 10.19% stake in NEC Capital Solutions Limited (TSE:8793) for ¥8.2 billion on May 26, 2025. A cash consideration of ¥8.23 billion valued at ¥3750 per share will be paid by SBI Shinsei Bank, Limited. As part of consideration, ¥8.23 billion is paid towards common equity of NEC Capital Solutions Limited. Upon completion, SBI Shinsei Bank, Limited will own 43.48% stake in NEC Capital Solutions Limited. The Company resolved to express its opinion in support of the tender offer for the Company’s common shares to be conducted by SBI Shinsei Bank, Limited and to reserve the Company’s judgment on the fairness of the purchase price for one share of the Company Shares and leave the decision of whether or not to tender shares in the Tender Offer to the judgement of the Company’s shareholders. The Tender Offer is not intended to result in the delisting of the Company Shares, and that the listing of the Company Shares on the Prime Market of the Tokyo Stock Exchange, Inc. is expected to be maintained even after the successful completion of the Tender Offer.
The transaction is subject to approval of merger agreement by target board and maximum tender. The expected completion of the transaction is June 23, 2025.
Anderson Mori & Tomotsune acted as legal advisor for SBI Shinsei Bank, Limited. TMI Associates acted as legal advisor for NEC Capital Solutions Limited. SBI SECURITIES Co., Ltd. acted as a tender offer agent.
SBI Shinsei Bank, Limited completed the acquisition of an additional 10.19% stake in NEC Capital Solutions Limited (TSE:8793) for ¥8.2 billion on June 23, 2025. The commencement date of settlement for the Tender Offer has Scheduled on June 30, 2025. Tender Offer Price ¥3,750 per common share of NEC Capital Solutions. At the end of tender offer, 2.1953 million shares of NEC Capital Solutions has acquired. Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: JP¥307 (vs JP¥327 in FY 2024) Full year 2025 results: EPS: JP¥307 (down from JP¥327 in FY 2024). Revenue: JP¥254.9b (flat on FY 2024). Net income: JP¥6.61b (down 6.0% from FY 2024). Profit margin: 2.6% (down from 2.7% in FY 2024). 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 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 25
NEC Capital Solutions Limited, Annual General Meeting, Jun 25, 2025 NEC Capital Solutions Limited, Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 09 June 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.2%). Announcement • Mar 19
NEC Capital Solutions Limited to Report Fiscal Year 2025 Results on Apr 25, 2025 NEC Capital Solutions Limited announced that they will report fiscal year 2025 results on Apr 25, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥118 (vs JP¥72.72 in 3Q 2024) Third quarter 2025 results: EPS: JP¥118 (up from JP¥72.72 in 3Q 2024). Revenue: JP¥65.8b (up 3.6% from 3Q 2024). Net income: JP¥2.55b (up 63% from 3Q 2024). Profit margin: 3.9% (up from 2.5% in 3Q 2024). The increase in margin was driven by higher revenue. 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 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 11
First half dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 28th March 2025 Payment date: 9th June 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 60% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.3% EPS decline seen over the last 5 years. Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥50.46 (vs JP¥25.26 in 2Q 2024) Second quarter 2025 results: EPS: JP¥50.46 (up from JP¥25.26 in 2Q 2024). Revenue: JP¥62.2b (down 2.1% from 2Q 2024). Net income: JP¥1.09b (up 100% from 2Q 2024). Profit margin: 1.7% (up from 0.9% in 2Q 2024). The increase in margin was driven by lower expenses. 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 22% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.0%). Announcement • Sep 20
NEC Capital Solutions Limited to Report Q2, 2025 Results on Oct 30, 2024 NEC Capital Solutions Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥107 (vs JP¥65.03 in 1Q 2024) First quarter 2025 results: EPS: JP¥107 (up from JP¥65.03 in 1Q 2024). Revenue: JP¥61.5b (up 1.7% from 1Q 2024). Net income: JP¥2.30b (up 64% from 1Q 2024). Profit margin: 3.7% (up from 2.3% in 1Q 2024). 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 21% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 29
NEC Capital Solutions Limited, Annual General Meeting, Jun 27, 2024 NEC Capital Solutions Limited, Annual General Meeting, Jun 27, 2024. Announcement • Apr 28
NEC Capital Solutions Limited Provides Earnings Guidance for the Fiscal Year Ending March 31, 2025 NEC Capital Solutions Limited provided earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects revenue to be JPY 260,000 million, Operating Income to be JPY 12,000 million and Profit attributable to owners of parent to be JPY 8,000 million or Basic net income per share JPY 371.50. Announcement • Mar 26
NEC Capital Solutions Limited to Report Fiscal Year 2024 Results on Apr 26, 2024 NEC Capital Solutions Limited announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.9%). Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥72.72 (vs JP¥58.30 in 3Q 2023) Third quarter 2024 results: EPS: JP¥72.72 (up from JP¥58.30 in 3Q 2023). Revenue: JP¥63.5b (up 4.9% from 3Q 2023). Net income: JP¥1.57b (up 25% from 3Q 2023). Profit margin: 2.5% (up from 2.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 17
NEC Capital Solutions Limited to Report Q3, 2024 Results on Jan 30, 2024 NEC Capital Solutions Limited announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥52.38 (vs JP¥66.75 in 2Q 2023) Second quarter 2024 results: EPS: JP¥52.38 (down from JP¥66.75 in 2Q 2023). Revenue: JP¥63.5b (down 1.0% from 2Q 2023). Net income: JP¥1.13b (down 22% from 2Q 2023). Profit margin: 1.8% (down from 2.2% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. Announcement • Sep 24
NEC Capital Solutions Limited to Report Q2, 2024 Results on Oct 30, 2023 NEC Capital Solutions Limited announced that they will report Q2, 2024 results on Oct 30, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥65.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.9%). New Risk • Aug 02
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: 2.0% 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.003% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥65.03 (vs JP¥138 in 1Q 2023) First quarter 2024 results: EPS: JP¥65.03 (down from JP¥138 in 1Q 2023). Revenue: JP¥60.5b (down 15% from 1Q 2023). Net income: JP¥1.40b (down 53% from 1Q 2023). Profit margin: 2.3% (down from 4.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jun 23
NEC Capital Solutions Limited to Report Q1, 2024 Results on Jul 31, 2023 NEC Capital Solutions Limited announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: JP¥298 (vs JP¥322 in FY 2022) Full year 2023 results: EPS: JP¥298 (down from JP¥322 in FY 2022). Revenue: JP¥258.1b (up 3.3% from FY 2022). Net income: JP¥6.42b (down 7.5% from FY 2022). Profit margin: 2.5% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥73.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.2%). Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥58.29 (vs JP¥97.54 in 3Q 2022) Third quarter 2023 results: EPS: JP¥58.29 (down from JP¥97.54 in 3Q 2022). Revenue: JP¥60.6b (flat on 3Q 2022). Net income: JP¥1.26b (down 40% from 3Q 2022). Profit margin: 2.1% (down from 3.5% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 23
NEC Capital Solutions Limited to Report Q3, 2023 Results on Jan 30, 2023 NEC Capital Solutions Limited announced that they will report Q3, 2023 results on Jan 30, 2023 Buying Opportunity • Dec 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be JP¥2,579, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 12%. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 2 experienced directors. 1 highly experienced director. Independent Outside Director Takashi Nawa is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥66.75 (vs JP¥94.91 in 2Q 2022) Second quarter 2023 results: EPS: JP¥66.75 (down from JP¥94.91 in 2Q 2022). Revenue: JP¥64.2b (flat on 2Q 2022). Net income: JP¥1.44b (down 30% from 2Q 2022). Profit margin: 2.2% (down from 3.2% in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Diversified Financial 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 4% per year, which means it is significantly lagging earnings. Announcement • Sep 23
NEC Capital Solutions Limited to Report Q2, 2023 Results on Oct 31, 2022 NEC Capital Solutions Limited announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.4%). Reported Earnings • Jul 27
First quarter 2023 earnings released: EPS: JP¥138 (vs JP¥66.92 in 1Q 2022) First quarter 2023 results: EPS: JP¥138 (up from JP¥66.92 in 1Q 2022). Revenue: JP¥71.5b (up 14% from 1Q 2022). Net income: JP¥2.97b (up 106% from 1Q 2022). Profit margin: 4.2% (up from 2.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 5.2% compared to a 4.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Announcement • Jun 30
NEC Capital Solutions Limited (TSE:8793) announces an Equity Buyback for 4,500 shares, representing 0.02% for ¥9.07 million. NEC Capital Solutions Limited (TSE:8793) announces a share repurchase program. Under the program, the company will repurchase 4,500 shares, representing 0.02% of its share capital (excluding treasury stock), at ¥2,015 per share, for ¥9.07 million. The company will repurchase its shares in order to allocate to restricted shares to be delivered to directors. The program will run until June 29, 2022. As of March 31, 2022, the company had 21,532,859 shares outstanding (excluding treasury shares) and 541 shares in treasury. Announcement • Jun 23
NEC Capital Solutions Limited to Report Q1, 2023 Results on Jul 26, 2022 NEC Capital Solutions Limited announced that they will report Q1, 2023 results on Jul 26, 2022 Price Target Changed • May 07
Price target decreased to JP¥2,100 Down from JP¥2,400, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of JP¥2,009. Stock is down 3.1% over the past year. The company is forecast to post earnings per share of JP¥334 for next year compared to JP¥322 last year. Reported Earnings • Apr 28
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥322 (up from JP¥191 in FY 2021). Revenue: JP¥249.9b (up 13% from FY 2021). Net income: JP¥6.94b (up 69% from FY 2021). Profit margin: 2.8% (up from 1.9% in FY 2021). 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 6.8%. Over the next year, revenue is forecast to stay flat compared to a 6.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. 2 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Outside Director Takashi Nawa is the most experienced director on the board, commencing their role in 2011. Independent Outside Director Takako Hagiwara was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 14 June 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (3.2%). Major Estimate Revision • Feb 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥269 to JP¥302. Revenue forecast steady at JP¥247.0b. Net income forecast to shrink 5.0% next year vs 14% growth forecast for Diversified Financial industry in Japan . Consensus price target of JP¥2,300 unchanged from last update. Share price rose 6.5% to JP¥2,146 over the past week. Reported Earnings • Jan 30
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: JP¥97.54 (up from JP¥37.06 in 3Q 2021). Revenue: JP¥60.7b (up 14% from 3Q 2021). Net income: JP¥2.10b (up 163% from 3Q 2021). Profit margin: 3.5% (up from 1.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 1.4%, compared to a 9.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥94.90 (vs JP¥31.26 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥64.2b (up 16% from 2Q 2021). Net income: JP¥2.04b (up 203% from 2Q 2021). Profit margin: 3.2% (up from 1.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥32.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 3.0%. Within top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (3.2%). Announcement • Sep 15
NEC Capital Solutions Limited announced that it expects to receive ¥50.20976 million in funding from Holonic Corporation NEC Capital Solutions Limited announced a private placement of 23,032 treasury shares at an issue price of ¥2,180 per share for gross proceeds of approximately ¥50,209,760 on September 13, 2021. The transaction included participation form Holonic Corporation. The securities are issued through third party allotment. The transaction is expected to close on September 30, 2021. The company will pay issue expenses of ¥100,000. The transaction was approved by the board of directors of the company. Reported Earnings • Jul 30
First quarter 2022 earnings released: EPS JP¥66.92 (vs JP¥27.49 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥62.9b (up 19% from 1Q 2021). Net income: JP¥1.44b (up 143% from 1Q 2021). Profit margin: 2.3% (up from 1.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Major Estimate Revision • Jun 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥334 to JP¥260 per share. Revenue forecast steady at JP¥238.5b. Net income forecast to grow 36% next year vs 27% growth forecast for Diversified Financial industry in Japan. Consensus price target up from JP¥2,100 to JP¥2,300. Share price rose 7.3% to JP¥2,168 over the past week. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS JP¥191 (vs JP¥238 in FY 2020) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥221.3b (flat on FY 2020). Net income: JP¥4.12b (down 20% from FY 2020). Profit margin: 1.9% (down from 2.3% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 21% 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 04 June 2021. Trailing yield: 2.8%. Within top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (3.1%). Is New 90 Day High Low • Mar 09
New 90-day high: JP¥2,068 The company is up 12% from its price of JP¥1,847 on 09 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 9.0% over the same period. Price Target Changed • Feb 11
Price target raised to JP¥2,100 Up from JP¥1,900, the current price target is provided by 1 analyst. The new target price is close to the current share price of JP¥2,008. As of last close, the stock is down 18% over the past year. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥2,017 The company is up 13% from its price of JP¥1,792 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Diversified Financial industry, which is up 21% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥37.06 (vs JP¥39.76 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥53.3b (flat on 3Q 2020). Net income: JP¥798.0m (down 6.8% from 3Q 2020). Profit margin: 1.5% (down from 1.6% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 06
New 90-day high: JP¥1,935 The company is up 3.0% from its price of JP¥1,886 on 08 October 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 10.0% over the same period. Announcement • Dec 26
NEC Capital Solutions Limited to Report Q3, 2021 Results on Jan 28, 2021 NEC Capital Solutions Limited announced that they will report Q3, 2021 results on Jan 28, 2021 Announcement • Dec 16
NEC Capital Solutions Limited (TSE:8793) signed a share purchase agreement to acquire 20% stake in AIRA Leasing Public Company Limited from AIRA Capital Public Company Limited (SET:AIRA) for approximately THB 190 million. NEC Capital Solutions Limited (TSE:8793) signed a share purchase agreement to acquire 20% stake in AIRA Leasing Public Company Limited from AIRA Capital Public Company Limited (SET:AIRA) for approximately THB 190 million on December 9, 2020. NEC Capital Solutions Limited will acquire 100 million shares at THB 1.85 per share, representing 20% stake in AIRA Leasing Public Company Limited. Announcement • Dec 02
RENOVA, Inc. (TSE:9519) acquired remaining 30.8% in Karumai East Solar Power Plant from Sumitomo Mitsui Finance and Leasing Company, Limited , Fuyo General Lease Co., Ltd. (TSE:8424) and NEC Capital Solutions Limited (TSE:8793). RENOVA, Inc. (TSE:9519) acquired remaining 30.8% in Karumai East Solar Power Plant from Sumitomo Mitsui Finance and Leasing Company, Limited , Fuyo General Lease Co., Ltd. (TSE:8424) and NEC Capital Solutions Limited (TSE:8793) on December 2, 2020. The stake is acquired pursuant to a Memorandum of Understanding.
RENOVA, Inc. (TSE:9519) completed the acquisition of remaining 30.8% in Karumai East Solar Power Plant from Sumitomo Mitsui Finance and Leasing Company, Limited , Fuyo General Lease Co., Ltd. (TSE:8424) and NEC Capital Solutions Limited (TSE:8793) on December 2, 2020. Announcement • Sep 30
NEC Capital Solutions Limited (TSE:8793) agreed to acquire NEC Financial Services, LLC from NEC Corporation of America, Inc. for $25 million. NEC Capital Solutions Limited (TSE:8793) agreed to acquire NEC Financial Services, LLC from NEC Corporation of America, Inc. for $25 million on September 29, 2020. The contract will be signed on September 30, 2020. For the year ended March 31, 2020, NEC Financial Services reported total assets of $577.9 million, net assets of $122.1 million, total sales of $26.6 million, operating income of $7.2 million and net income of $7.2 million. The transaction is expected to be completed on November 30, 2020. Announcement • Sep 26
NEC Capital Solutions Limited to Report Q2, 2021 Results on Oct 29, 2020 NEC Capital Solutions Limited announced that they will report Q2, 2021 results on Oct 29, 2020