Reported Earnings • May 20
Full year 2026 earnings released: JP¥137 loss per share (vs JP¥39.03 profit in FY 2025) Full year 2026 results: JP¥137 loss per share (down from JP¥39.03 profit in FY 2025). Revenue: JP¥42.7b (up 3.1% from FY 2025). Net loss: JP¥1.23b (down 451% from profit in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • May 15
Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 26, 2026 Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 26, 2026. New Risk • Mar 26
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 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (JP¥12.3b market cap, or US$77.0m). Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.3%). New Risk • Feb 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 38% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥8.96b market cap, or US$58.3m). Announcement • Jan 06
Katakura & Co-op Agri Corporation to Report Q3, 2026 Results on Feb 16, 2026 Katakura & Co-op Agri Corporation announced that they will report Q3, 2026 results on Feb 16, 2026 Reported Earnings • Nov 18
Second quarter 2026 earnings released: JP¥147 loss per share (vs JP¥3.34 profit in 2Q 2025) Second quarter 2026 results: JP¥147 loss per share (down from JP¥3.34 profit in 2Q 2025). Revenue: JP¥9.31b (up 11% from 2Q 2025). Net loss: JP¥1.32b (down JP¥1.35b from profit in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Sep 01
Katakura & Co-op Agri Corporation to Report Q2, 2026 Results on Nov 14, 2025 Katakura & Co-op Agri Corporation announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: JP¥12.50 (vs JP¥10.60 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥12.50 (up from JP¥10.60 loss in 1Q 2025). Revenue: JP¥9.80b (flat on 1Q 2025). Net income: JP¥112.0m (up JP¥207.0m from 1Q 2025). Profit margin: 1.1% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 29
Full year 2025 earnings released: EPS: JP¥39.03 (vs JP¥70.29 loss in FY 2024) Full year 2025 results: EPS: JP¥39.03 (up from JP¥70.29 loss in FY 2024). Revenue: JP¥41.4b (flat on FY 2024). Net income: JP¥350.0m (up JP¥980.0m from FY 2024). Profit margin: 0.8% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • Jun 27
Katakura & Co-op Agri Corporation to Report Q1, 2026 Results on Aug 14, 2025 Katakura & Co-op Agri Corporation announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • May 21
Full year 2025 earnings released: EPS: JP¥39.03 (vs JP¥70.29 loss in FY 2024) Full year 2025 results: EPS: JP¥39.03 (up from JP¥70.29 loss in FY 2024). Revenue: JP¥41.4b (flat on FY 2024). Net income: JP¥350.0m (up JP¥980.0m from FY 2024). Profit margin: 0.8% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • May 15
Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 24, 2025 Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 24, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥8.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Announcement • Mar 12
Katakura & Co-op Agri Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Katakura & Co-op Agri Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥2.90 (vs JP¥66.71 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥2.90 (up from JP¥66.71 loss in 3Q 2024). Revenue: JP¥11.0b (up 5.7% from 3Q 2024). Net income: JP¥26.0m (up JP¥624.0m from 3Q 2024). Profit margin: 0.2% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Dec 10
Katakura & Co-op Agri Corporation to Report Q3, 2025 Results on Feb 14, 2025 Katakura & Co-op Agri Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 Announcement • Sep 28
Katakura & Co-op Agri Corporation to Report Q2, 2025 Results on Nov 14, 2024 Katakura & Co-op Agri Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 14
First quarter 2025 earnings released: JP¥10.60 loss per share (vs JP¥7.14 profit in 1Q 2024) First quarter 2025 results: JP¥10.60 loss per share (down from JP¥7.14 profit in 1Q 2024). Revenue: JP¥9.84b (down 5.4% from 1Q 2024). Net loss: JP¥95.0m (down 248% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Katakura & Co-op Agri Corporation to Report Q1, 2025 Results on Aug 09, 2024 Katakura & Co-op Agri Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 21
Full year 2024 earnings released: JP¥70.29 loss per share (vs JP¥242 profit in FY 2023) Full year 2024 results: JP¥70.29 loss per share (down from JP¥242 profit in FY 2023). Revenue: JP¥41.2b (down 19% from FY 2023). Net loss: JP¥630.0m (down 129% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • May 17
Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 25, 2024 Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 25, 2024. Buy Or Sell Opportunity • May 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.3% to JP¥1,159. The fair value is estimated to be JP¥962, 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. Meanwhile, the company became loss making. Announcement • Apr 05
Katakura & Co-op Agri Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Katakura & Co-op Agri Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. The company is not currently making a profit and its cash payout ratio is 99%. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). New Risk • Feb 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (JP¥9.74b market cap, or US$64.8m). Announcement • Jan 11
Katakura & Co-op Agri Corporation to Report Q3, 2024 Results on Feb 14, 2024 Katakura & Co-op Agri Corporation announced that they will report Q3, 2024 results on Feb 14, 2024 New Risk • Nov 20
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: 1.6% Last year net profit margin: 4.0% 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: Minor Risks Dividend is not well covered by earnings (147% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (JP¥10.2b market cap, or US$67.9m). Reported Earnings • Nov 20
Second quarter 2024 earnings released: JP¥22.76 loss per share (vs JP¥104 profit in 2Q 2023) Second quarter 2024 results: JP¥22.76 loss per share (down from JP¥104 profit in 2Q 2023). Revenue: JP¥8.46b (down 23% from 2Q 2023). Net loss: JP¥204.0m (down 122% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Sep 28
Katakura & Co-op Agri Corporation to Report Q2, 2024 Results on Nov 14, 2023 Katakura & Co-op Agri Corporation announced that they will report Q2, 2024 results on Nov 14, 2023 Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥7.14 (vs JP¥39.97 in 1Q 2023) First quarter 2024 results: EPS: JP¥7.14 (down from JP¥39.97 in 1Q 2023). Revenue: JP¥10.4b (down 12% from 1Q 2023). Net income: JP¥64.0m (down 82% from 1Q 2023). Profit margin: 0.6% (down from 3.0% 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 41% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 30
Katakura & Co-op Agri Corporation to Report Q1, 2024 Results on Aug 14, 2023 Katakura & Co-op Agri Corporation announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥242 (vs JP¥114 in FY 2022) Full year 2023 results: EPS: JP¥242 (up from JP¥114 in FY 2022). Revenue: JP¥51.0b (up 31% from FY 2022). Net income: JP¥2.17b (up 113% from FY 2022). Profit margin: 4.3% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥1,393, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥89.00 per share at 5.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: JP¥95.08 (vs JP¥12.62 in 3Q 2022) Third quarter 2023 results: EPS: JP¥95.08 (up from JP¥12.62 in 3Q 2022). Revenue: JP¥14.6b (up 41% from 3Q 2022). Net income: JP¥852.0m (up JP¥739.0m from 3Q 2022). Profit margin: 5.8% (up from 1.1% in 3Q 2022). The increase in margin was driven by higher revenue. 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. Announcement • Dec 29
Katakura & Co-op Agri Corporation to Report Q3, 2023 Results on Feb 14, 2023 Katakura & Co-op Agri Corporation announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥104 (vs JP¥36.31 in 2Q 2022) Second quarter 2023 results: EPS: JP¥104 (up from JP¥36.31 in 2Q 2022). Revenue: JP¥11.0b (up 33% from 2Q 2022). Net income: JP¥935.0m (up 188% from 2Q 2022). Profit margin: 8.5% (up from 3.9% in 2Q 2022). The increase in margin was driven by higher revenue. 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 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 28
Katakura & Co-op Agri Corporation to Report Q2, 2023 Results on Nov 14, 2022 Katakura & Co-op Agri Corporation announced that they will report Q2, 2023 results on Nov 14, 2022 Reported Earnings • Aug 17
First quarter 2023 earnings released: EPS: JP¥39.97 (vs JP¥20.89 in 1Q 2022) First quarter 2023 results: EPS: JP¥39.97 (up from JP¥20.89 in 1Q 2022). Revenue: JP¥11.9b (up 34% from 1Q 2022). Net income: JP¥358.0m (up 91% from 1Q 2022). Profit margin: 3.0% (up from 2.1% in 1Q 2022). The increase in margin was driven by higher revenue. 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 5% per year. Announcement • Jun 29
Katakura & Co-op Agri Corporation to Report Q1, 2023 Results on Aug 15, 2022 Katakura & Co-op Agri Corporation announced that they will report Q1, 2023 results on Aug 15, 2022 Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,504, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 10x in the Chemicals industry in Japan. Total returns to shareholders of 55% over the past three years. Reported Earnings • May 20
Full year 2022 earnings released: EPS: JP¥114 (vs JP¥91.39 in FY 2021) Full year 2022 results: EPS: JP¥114 (up from JP¥91.39 in FY 2021). Revenue: JP¥39.0b (up 9.9% from FY 2021). Net income: JP¥1.02b (up 23% from FY 2021). Profit margin: 2.6% (up from 2.3% in FY 2021). 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 whereas the company’s share price has increased by 5% per year. Announcement • May 18
Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 24, 2022 Katakura & Co-op Agri Corporation, Annual General Meeting, Jun 24, 2022. Announcement • Apr 08
Katakura & Co-op Agri Corporation to Report Fiscal Year 2022 Results on May 16, 2022 Katakura & Co-op Agri Corporation announced that they will report fiscal year 2022 results on May 16, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥12.62 (up from JP¥2.88 in 3Q 2021). Revenue: JP¥10.3b (up 19% from 3Q 2021). Net income: JP¥113.0m (up 335% from 3Q 2021). Profit margin: 1.1% (up from 0.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Reported Earnings • May 27
Full year 2021 earnings released: EPS JP¥91.39 (vs JP¥90.23 in FY 2020) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥35.4b (down 5.6% from FY 2020). Net income: JP¥829.0m (down 5.5% from FY 2020). Profit margin: 2.3% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS JP¥2.88 (vs JP¥1.34 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥8.72b (down 3.8% from 3Q 2020). Net income: JP¥26.0m (up 100% from 3Q 2020). Profit margin: 0.3% (up from 0.1% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 15
New 90-day high: JP¥1,293 The company is up 3.0% from its price of JP¥1,253 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 29
New 90-day low: JP¥1,190 The company is down 8.0% from its price of JP¥1,300 on 30 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 13% over the same period. Announcement • Oct 04
Katakura & Co-op Agri Corporation to Report Q2, 2021 Results on Nov 13, 2020 Katakura & Co-op Agri Corporation announced that they will report Q2, 2021 results on Nov 13, 2020