Price Target Changed • Jun 10
Price target increased by 9.2% to JP¥7,500 Up from JP¥6,867, the current price target is an average from 9 analysts. New target price is 5.7% above last closing price of JP¥7,097. Stock is up 65% over the past year. The company is forecast to post earnings per share of JP¥387 for next year compared to JP¥368 last year. Reported Earnings • May 18
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥368 (up from JP¥313 in FY 2025). Revenue: JP¥279.6b (up 11% from FY 2025). Net income: JP¥49.7b (up 16% from FY 2025). Profit margin: 18% (in line with FY 2025). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 4.8%. Revenue is forecast to grow 4.5% 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 10% per year whereas the company’s share price has increased by 5% per year. Announcement • May 16
Nissan Chemical Corporation (TSE:4021) announces an Equity Buyback for 2,100,000 shares, representing 1.56% for ¥10,500 million. Nissan Chemical Corporation (TSE:4021) announces a share repurchase program. Under the program, the company will repurchase up to 2,100,000 common shares, representing 1.56% of its issued share capital, for ¥10,500 million. The purpose of the program is to facilitate flexible implementation of capital policy in response to changes in the business environment. The program will be valid until March 31, 2027. As of May 15, 2026, there are 134,240,748 issued shares (excluding treasury stock) and 559,252 treasury shares. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Buy Or Sell Opportunity • Mar 04
Now 20% undervalued Over the last 90 days, the stock has risen 19% to JP¥6,245. The fair value is estimated to be JP¥7,855, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 6.5%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period. Announcement • Feb 10
Nissan Chemical Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Nissan Chemical Corporation announced that they will report fiscal year 2026 results on May 15, 2026 New Risk • Feb 10
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 5.7% 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 • Feb 10
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥90.67 (up from JP¥81.51 in 3Q 2025). Revenue: JP¥65.3b (up 15% from 3Q 2025). Net income: JP¥12.2b (up 9.2% from 3Q 2025). Profit margin: 19% (down from 20% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 4.5% 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 6% per year whereas the company’s share price has increased by 4% per year. Buy Or Sell Opportunity • Jan 27
Now 21% undervalued Over the last 90 days, the stock has risen 1.4% to JP¥5,310. The fair value is estimated to be JP¥6,687, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 2.9%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period. Buy Or Sell Opportunity • Dec 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to JP¥5,321. The fair value is estimated to be JP¥6,764, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 2.9%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Declared Dividend • Dec 09
First half dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 30th March 2026 Payment date: 29th June 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 (52% earnings payout ratio) and cash flows (54% 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 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 11
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: JP¥66.14 (up from JP¥64.95 in 2Q 2025). Revenue: JP¥60.2b (up 1.2% from 2Q 2025). Net income: JP¥8.94b (flat on 2Q 2025). Profit margin: 15% (in line with 2Q 2025). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 5.8%. Revenue is forecast to grow 4.0% 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 fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Nov 11
Nissan Chemical Corporation to Report Q3, 2026 Results on Feb 09, 2026 Nissan Chemical Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Aug 09
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥102 (up from JP¥83.77 in 1Q 2025). Revenue: JP¥69.9b (up 19% from 1Q 2025). Net income: JP¥13.9b (up 20% from 1Q 2025). Profit margin: 20% (in line with 1Q 2025). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 3.7% 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 remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Nissan Chemical Corporation to Report Q2, 2026 Results on Nov 10, 2025 Nissan Chemical Corporation announced that they will report Q2, 2026 results on Nov 10, 2025 Declared Dividend • Jul 09
Final dividend of JP¥70.00 announced Shareholders will receive a dividend of JP¥70.00. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (57% 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 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥313 (up from JP¥273 in FY 2024). Revenue: JP¥251.4b (up 11% from FY 2024). Net income: JP¥43.0b (up 13% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.9% 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 fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥313 (up from JP¥273 in FY 2024). Revenue: JP¥251.4b (up 11% from FY 2024). Net income: JP¥43.0b (up 13% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 4.5% 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 remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • May 16
Nissan Chemical Corporation (TSE:4021) announces an Equity Buyback for 2,500,000 shares, representing 1.84% for ¥9,000 million. Nissan Chemical Corporation (TSE:4021) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 common shares, representing 1.84% of its issued share capital, for ¥9,000 million. The purpose of the program is to facilitate flexible implementation of capital policy in response to changes in the business environment. The program will be valid until March 31, 2026. As of May 15, 2025, there are 136,056,203 issued shares (excluding treasury stock) and 743,797 treasury shares. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥94.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 52% and the cash payout ratio is 78%. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 06
Nissan Chemical Corporation (TSE:4021) announces an Equity Buyback for 750,000 shares, representing 0.55% for ¥3,000 million. Nissan Chemical Corporation (TSE:4021) announces a share repurchase program. Under the program, the company will repurchase up to 750,000 shares, representing 0.549999% of its issued share capital, for ¥3,000 million. The purpose of the program is to enable the implementation of flexible capital policies in response to changes in the business environment. The program will be valid until April 30, 2025. As of March 6, 2025, there are 136,751,645 outstanding shares (excluding treasury stock) and 1,048,355 treasury shares. Buy Or Sell Opportunity • Feb 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to JP¥4,505. The fair value is estimated to be JP¥5,683, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 3.9% per annum over the same time period. Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥81.51 (up from JP¥46.43 in 3Q 2024). Revenue: JP¥56.6b (up 14% from 3Q 2024). Net income: JP¥11.2b (up 73% from 3Q 2024). Profit margin: 20% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 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 fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Announcement • Feb 07
Nissan Chemical Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Nissan Chemical Corporation announced that they will report fiscal year 2025 results at 3:30 PM, Tokyo Standard Time on May 15, 2025 Buy Or Sell Opportunity • Dec 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to JP¥4,827. The fair value is estimated to be JP¥6,129, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Declared Dividend • Dec 10
First half dividend of JP¥94.00 announced Dividend of JP¥94.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (89.8% cash payout ratio). The dividend has increased by an average of 19% 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. Reported Earnings • Nov 13
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: JP¥64.95 (up from JP¥52.08 in 2Q 2024). Revenue: JP¥59.5b (up 17% from 2Q 2024). Net income: JP¥8.93b (up 23% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Announcement • Nov 11
Nissan Chemical Corporation to Report Q3, 2025 Results on Feb 07, 2025 Nissan Chemical Corporation announced that they will report Q3, 2025 results on Feb 07, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 10
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: JP¥83.77 (down from JP¥87.39 in 1Q 2024). Revenue: JP¥58.7b (up 6.8% from 1Q 2024). Net income: JP¥11.6b (down 5.3% from 1Q 2024). Profit margin: 20% (down from 22% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 4.9% 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 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Nissan Chemical Corporation to Report Q2, 2025 Results on Nov 11, 2024 Nissan Chemical Corporation announced that they will report Q2, 2025 results on Nov 11, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥4,038, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Chemicals industry in Japan. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,088 per share. Declared Dividend • Jul 11
Final dividend of JP¥70.00 announced Dividend of JP¥70.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (167% 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 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 15
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥273 (down from JP¥291 in FY 2023). Revenue: JP¥226.7b (flat on FY 2023). Net income: JP¥38.0b (down 7.4% from FY 2023). Profit margin: 17% (down from 18% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.7% 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 fallen by 5% per year, which means it is significantly lagging earnings. Board Change • May 09
Less than half of directors are independent There are 6 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: 4 independent directors. 6 non-independent directors. Independent Outside Director Takeoka Yuko was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Price Target Changed • Dec 21
Price target decreased by 7.4% to JP¥6,401 Down from JP¥6,910, the current price target is an average from 9 analysts. New target price is 18% above last closing price of JP¥5,414. Stock is down 12% over the past year. The company is forecast to post earnings per share of JP¥271 for next year compared to JP¥291 last year. Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥52.08 (down from JP¥69.58 in 2Q 2023). Revenue: JP¥50.7b (down 1.0% from 2Q 2023). Net income: JP¥7.26b (down 26% from 2Q 2023). Profit margin: 14% (down from 19% in 2Q 2023). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 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 increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
Nissan Chemical Corporation to Report Q3, 2024 Results on Feb 09, 2024 Nissan Chemical Corporation announced that they will report Q3, 2024 results on Feb 09, 2024 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥70.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.5%). Reported Earnings • Aug 11
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: JP¥87.39 (down from JP¥98.13 in 1Q 2023). Revenue: JP¥54.9b (down 5.7% from 1Q 2023). Net income: JP¥12.2b (down 12% from 1Q 2023). Profit margin: 22% (down from 24% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 9.7%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
Nissan Chemical Corporation to Report Q2, 2024 Results on Nov 10, 2023 Nissan Chemical Corporation announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥291 (up from JP¥272 in FY 2022). Revenue: JP¥228.1b (up 9.7% from FY 2022). Net income: JP¥41.1b (up 6.0% from FY 2022). Profit margin: 18% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.6%. Revenue is forecast to grow 3.7% 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 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Nissan Chemical Corporation (TSE:4021) announces an Equity Buyback for 1,250,000 shares, representing 0.89% for ¥5,000 million. Nissan Chemical Corporation (TSE:4021) announces a share repurchase program. Under the program, the company will repurchase up to 1,250,000 common shares, representing 0.89% of its issued share capital, for ¥5,000 million. The purpose of the program is to facilitate flexible implementation of capital policy in response to changes in the business environment. The plan will be valid up to July 28, 2023. As of May 15, 2023, the company had 140,423,428 shares issued (excluding treasury stock) and 176,572 shares in its treasury. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥94.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 23% and the cash payout ratio is 75%. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.8%). Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: JP¥50.21 (down from JP¥65.66 in 3Q 2022). Revenue: JP¥49.7b (flat on 3Q 2022). Net income: JP¥7.08b (down 24% from 3Q 2022). Profit margin: 14% (down from 19% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.0%. Revenue is forecast to grow 4.2% 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 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 7 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: 4 independent directors. 6 non-independent directors. Independent Outside Director Nakagawa Miyuki 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. Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: JP¥69.58 (up from JP¥52.18 in 2Q 2022). Revenue: JP¥51.2b (up 13% from 2Q 2022). Net income: JP¥9.82b (up 32% from 2Q 2022). Profit margin: 19% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.5%. Revenue is forecast to grow 4.0% 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 18% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Nov 13
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: JP¥69.58 (up from JP¥52.18 in 2Q 2022). Revenue: JP¥51.2b (up 13% from 2Q 2022). Net income: JP¥9.82b (up 32% from 2Q 2022). Profit margin: 19% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.5%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 13% per year. Announcement • Nov 12
Nissan Chemical Corporation to Report Q3, 2023 Results on Feb 10, 2023 Nissan Chemical Corporation announced that they will report Q3, 2023 results on Feb 10, 2023 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 09
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: JP¥98.13 (up from JP¥61.73 in 1Q 2022). Revenue: JP¥58.3b (up 25% from 1Q 2022). Net income: JP¥13.9b (up 57% from 1Q 2022). Profit margin: 24% (up from 19% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 2.4%, 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 16% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥6,430, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 10x in the Chemicals industry in Japan. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,382 per share.