Upcoming Dividend • Jun 22
Upcoming dividend of JP¥30.50 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 18 September 2026. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (2.0%). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: JP¥48.58 (vs JP¥59.24 in 1Q 2025) First quarter 2026 results: EPS: JP¥48.58 (down from JP¥59.24 in 1Q 2025). Revenue: JP¥25.6b (up 24% from 1Q 2025). Net income: JP¥958.0m (down 18% from 1Q 2025). Profit margin: 3.7% (down from 5.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Chemicals industry in Japan. 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. Declared Dividend • Apr 11
Final dividend of JP¥30.50 announced Shareholders will receive a dividend of JP¥30.50. Ex-date: 29th June 2026 Payment date: 18th September 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 18
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Dividend per share is over 6x cash flows per share. Dividend yield: 3.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥201 (up from JP¥181 in FY 2024). Revenue: JP¥88.7b (up 14% from FY 2024). Net income: JP¥3.94b (up 11% from FY 2024). Profit margin: 4.4% (down from 4.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.6%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 13
Kuriyama Holdings Corporation, Annual General Meeting, Mar 25, 2026 Kuriyama Holdings Corporation, Annual General Meeting, Mar 25, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. Payout ratio is a comfortable 27% and the cash payout ratio is 75%. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: JP¥49.67 (vs JP¥33.17 in 3Q 2024) Third quarter 2025 results: EPS: JP¥49.67 (up from JP¥33.17 in 3Q 2024). Revenue: JP¥22.8b (up 23% from 3Q 2024). Net income: JP¥976.0m (up 50% from 3Q 2024). Profit margin: 4.3% (up from 3.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% 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 • Sep 19
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 29th December 2025 Payment date: 30th March 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 16% 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 9.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: JP¥74.93 (vs JP¥56.90 in 2Q 2024) Second quarter 2025 results: EPS: JP¥74.93 (up from JP¥56.90 in 2Q 2024). Revenue: JP¥22.6b (up 12% from 2Q 2024). Net income: JP¥1.47b (up 32% from 2Q 2024). Profit margin: 6.5% (up from 5.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. 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 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 19 September 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.9%). Buy Or Sell Opportunity • May 27
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to JP¥1,380. The fair value is estimated to be JP¥1,150, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 8.5% in the next 2 years. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: JP¥59.24 (vs JP¥50.73 in 1Q 2024) First quarter 2025 results: EPS: JP¥59.24 (up from JP¥50.73 in 1Q 2024). Revenue: JP¥20.6b (up 3.1% from 1Q 2024). Net income: JP¥1.16b (up 17% from 1Q 2024). Profit margin: 5.6% (up from 5.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 27th June 2025 Payment date: 19th September 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 16% 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. Buy Or Sell Opportunity • Mar 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to JP¥1,367. The fair value is estimated to be JP¥1,130, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Reported Earnings • Feb 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥181 (down from JP¥194 in FY 2023). Revenue: JP¥77.9b (up 8.7% from FY 2023). Net income: JP¥3.55b (down 6.5% from FY 2023). Profit margin: 4.6% (down from 5.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Feb 14
Kuriyama Holdings Corporation, Annual General Meeting, Mar 27, 2025 Kuriyama Holdings Corporation, Annual General Meeting, Mar 27, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥22.50 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.6%). Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: JP¥33.17 (vs JP¥47.10 in 3Q 2023) Third quarter 2024 results: EPS: JP¥33.17 (down from JP¥47.10 in 3Q 2023). Revenue: JP¥18.6b (flat on 3Q 2023). Net income: JP¥650.0m (down 30% from 3Q 2023). Profit margin: 3.5% (down from 5.0% in 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: JP¥56.90 (vs JP¥37.06 in 2Q 2023) Second quarter 2024 results: EPS: JP¥56.90 (up from JP¥37.06 in 2Q 2023). Revenue: JP¥20.3b (up 11% from 2Q 2023). Net income: JP¥1.12b (up 54% from 2Q 2023). Profit margin: 5.5% (up from 4.0% in 2Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Declared Dividend • Aug 10
Dividend of JP¥22.50 announced Shareholders will receive a dividend of JP¥22.50. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 16% 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 6.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥986, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 42% over the past three years. Buy Or Sell Opportunity • Jul 26
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to JP¥1,230. The fair value is estimated to be JP¥1,018, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 5.6% in 2 years. Earnings are forecast to decline by 2.1% in the next 2 years. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to JP¥1,370. The fair value is estimated to be JP¥1,138, however this is not to be taken as a sell 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 21%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 1.0% per annum over the same time period. New Risk • Feb 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,109, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 84% over the past three years. Announcement • Feb 16
Kuriyama Holdings Corporation, Annual General Meeting, Mar 28, 2024 Kuriyama Holdings Corporation, Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥30.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 March 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.4%). Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: JP¥47.10 (vs JP¥38.27 in 3Q 2022) Third quarter 2023 results: EPS: JP¥47.10 (up from JP¥38.27 in 3Q 2022). Revenue: JP¥18.5b (down 1.9% from 3Q 2022). Net income: JP¥923.0m (up 24% from 3Q 2022). Profit margin: 5.0% (up from 4.0% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: JP¥37.06 (vs JP¥45.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥37.06 (down from JP¥45.67 in 2Q 2022). Revenue: JP¥18.3b (up 2.6% from 2Q 2022). Net income: JP¥726.0m (down 19% from 2Q 2022). Profit margin: 4.0% (down from 5.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: JP¥54.58 (vs JP¥53.16 in 1Q 2022) First quarter 2023 results: EPS: JP¥54.58 (up from JP¥53.16 in 1Q 2022). Revenue: JP¥18.4b (up 7.5% from 1Q 2022). Net income: JP¥1.07b (up 3.1% from 1Q 2022). Profit margin: 5.8% (down from 6.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥186 (down from JP¥195 in FY 2021). Revenue: JP¥71.5b (up 20% from FY 2021). Net income: JP¥3.64b (down 4.5% from FY 2021). Profit margin: 5.1% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year and the company’s share price has also increased by 29% per year. Price Target Changed • Mar 15
Price target increased by 10% to JP¥1,305 Up from JP¥1,185, the current price target is provided by 1 analyst. New target price is 48% above last closing price of JP¥881. Stock is up 1.0% over the past year. The company is forecast to post earnings per share of JP¥174 for next year compared to JP¥186 last year. Reported Earnings • Feb 19
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥186 (down from JP¥195 in FY 2021). Revenue: JP¥71.5b (up 20% from FY 2021). Net income: JP¥3.64b (down 4.5% from FY 2021). Profit margin: 5.1% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Kuriyama Holdings Corporation, Annual General Meeting, Mar 28, 2023 Kuriyama Holdings Corporation, Annual General Meeting, Mar 28, 2023. Price Target Changed • Dec 23
Price target decreased to JP¥1,185 Down from JP¥1,300, the current price target is provided by 1 analyst. New target price is 35% above last closing price of JP¥876. Stock is down 28% over the past year. The company is forecast to post earnings per share of JP¥158 for next year compared to JP¥195 last year. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.0%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Managing Executive Officer & Director Shigehiko Konuki was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: JP¥18.8b (up 28% from 3Q 2021). Net income: JP¥747.0m (down 44% from 3Q 2021). Profit margin: 4.0% (down from 9.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2022 earnings released: EPS: JP¥45.67 (vs JP¥45.63 in 2Q 2021) Second quarter 2022 results: EPS: JP¥45.67 (up from JP¥45.63 in 2Q 2021). Revenue: JP¥17.8b (up 20% from 2Q 2021). Net income: JP¥891.0m (flat on 2Q 2021). Profit margin: 5.0% (down from 6.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥53.15 (up from JP¥50.99 in 1Q 2021). Revenue: JP¥17.1b (up 18% from 1Q 2021). Net income: JP¥1.04b (up 4.3% from 1Q 2021). Profit margin: 6.0% (down from 6.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 4.2%, compared to a 7.6% growth forecast for the 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 only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥1,215 Down from JP¥1,460, the current price target is provided by 1 analyst. New target price is 28% above last closing price of JP¥951. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥162 for next year compared to JP¥195 last year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Managing Executive Officer & Director Shigehiko Konuki was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Feb 16
Kuriyama Holdings Corporation, Annual General Meeting, Mar 24, 2022 Kuriyama Holdings Corporation, Annual General Meeting, Mar 24, 2022. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 March 2022. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.2%). Major Estimate Revision • Nov 25
Consensus revenue estimates increase to JP¥58.5b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from JP¥52.7b to JP¥58.5b. EPS estimate increased from JP¥100.00 to JP¥180 per share. Net income forecast to grow 12% next year vs 1.2% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥900 to JP¥1,460. Share price rose 8.9% to JP¥1,165 over the past week. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS JP¥68.78 (vs JP¥25.60 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥14.6b (up 22% from 3Q 2020). Net income: JP¥1.34b (up 169% from 3Q 2020). Profit margin: 9.2% (up from 4.2% in 3Q 2020). 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 whereas the company’s share price has increased by 4% per year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥871, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Chemicals industry in Japan. Total loss to shareholders of 13% over the past three years. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS JP¥45.62 (vs JP¥17.85 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥14.8b (up 32% from 2Q 2020). Net income: JP¥890.0m (up 156% from 2Q 2020). Profit margin: 6.0% (up from 3.1% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2021 earnings released: EPS JP¥50.99 (vs JP¥42.57 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥14.5b (up 4.3% from 1Q 2020). Net income: JP¥994.0m (up 20% from 1Q 2020). Profit margin: 6.8% (up from 6.0% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS JP¥74.07 (vs JP¥104 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥50.0b (down 9.4% from FY 2019). Net income: JP¥1.44b (down 29% from FY 2019). Profit margin: 2.9% (down from 3.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Mar 16
New 90-day high: JP¥730 The company is up 1.0% from a price of JP¥722 on 16 December 2020. Underperformed the Japanese market, which is up 10.0% over the last 90 days. Lagged the Chemicals industry, which is up 7.0% over the same period. Price Target Changed • Mar 16
Price target increased to JP¥900 Up from JP¥810, the current price target is provided by 1 analyst. New target price is 23% above last closing price of JP¥730. Stock is up 72% over the past year. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥74.07 (vs JP¥104 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥50.0b (down 9.4% from FY 2019). Net income: JP¥1.44b (down 29% from FY 2019). Profit margin: 2.9% (down from 3.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 9.1%, compared to a 6.5% growth forecast for the Chemicals industry in Japan. Announcement • Jan 13
Kuriyama Holdings Corporation, Annual General Meeting, Mar 25, 2021 Kuriyama Holdings Corporation, Annual General Meeting, Mar 25, 2021. Is New 90 Day High Low • Dec 01
New 90-day high: JP¥685 The company is up 35% from its price of JP¥506 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period.