Upcoming Dividend • Jun 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 04 September 2026. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (2.0%). Announcement • May 30
Toagosei Co., Ltd. to Report Q2, 2026 Results on Jul 31, 2026 Toagosei Co., Ltd. announced that they will report Q2, 2026 results on Jul 31, 2026 Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: JP¥26.00 (vs JP¥18.01 in 1Q 2025) First quarter 2026 results: EPS: JP¥26.00 (up from JP¥18.01 in 1Q 2025). Revenue: JP¥38.6b (down 3.0% from 1Q 2025). Net income: JP¥2.77b (up 39% from 1Q 2025). Profit margin: 7.2% (up from 5.0% in 1Q 2025). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Japan. 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 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 21
Toagosei Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Toagosei Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Declared Dividend • Apr 11
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 29th June 2026 Payment date: 4th September 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (56% 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 11% 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 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 27
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to JP¥1,915. The fair value is estimated to be JP¥1,563, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.7%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 2.0% per annum over the same time period. Reported Earnings • Feb 14
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥117 (up from JP¥105 in FY 2024). Revenue: JP¥162.3b (down 3.2% from FY 2024). Net income: JP¥12.8b (up 7.5% from FY 2024). Profit margin: 7.9% (up from 7.1% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 2.3% 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 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to JP¥1,882. The fair value is estimated to be JP¥1,558, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥32.50 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Announcement • Dec 04
Toagosei Co., Ltd. to Report Fiscal Year 2025 Results on Feb 12, 2026 Toagosei Co., Ltd. announced that they will report fiscal year 2025 results on Feb 12, 2026 Buy Or Sell Opportunity • Nov 19
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥1,529. The fair value is estimated to be JP¥1,914, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: JP¥21.16 (vs JP¥30.62 in 3Q 2024) Third quarter 2025 results: EPS: JP¥21.16 (down from JP¥30.62 in 3Q 2024). Revenue: JP¥39.5b (down 5.4% from 3Q 2024). Net income: JP¥2.29b (down 34% from 3Q 2024). Profit margin: 5.8% (down from 8.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.0% 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 10% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 19
Now 20% undervalued Over the last 90 days, the stock has risen 5.2% to JP¥1,522. The fair value is estimated to be JP¥1,903, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 5.8% per annum over the same time period. Buy Or Sell Opportunity • Sep 30
Now 21% undervalued Over the last 90 days, the stock has risen 6.9% to JP¥1,512. The fair value is estimated to be JP¥1,905, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 5.8% per annum over the same time period. Announcement • Sep 10
Toagosei Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Toagosei Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Declared Dividend • Sep 05
First half dividend of JP¥32.50 announced Shareholders will receive a dividend of JP¥32.50. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (66% 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 10% 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 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 27
Now 20% undervalued Over the last 90 days, the stock has risen 9.2% to JP¥1,535. The fair value is estimated to be JP¥1,922, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 5.0% per annum over the same time period. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: JP¥33.84 (vs JP¥38.00 in 2Q 2024) Second quarter 2025 results: EPS: JP¥33.84 (down from JP¥38.00 in 2Q 2024). Revenue: JP¥40.5b (down 4.8% from 2Q 2024). Net income: JP¥3.72b (down 14% from 2Q 2024). Profit margin: 9.2% (down from 10% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% 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 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥32.50 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 05 September 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (2.9%). Announcement • May 29
Toagosei Co., Ltd. to Report Q2, 2025 Results on Jul 31, 2025 Toagosei Co., Ltd. announced that they will report Q2, 2025 results on Jul 31, 2025 Reported Earnings • Apr 29
First quarter 2025 earnings released: EPS: JP¥18.01 (vs JP¥23.60 in 1Q 2024) First quarter 2025 results: EPS: JP¥18.01 (down from JP¥23.60 in 1Q 2024). Revenue: JP¥39.8b (up 2.1% from 1Q 2024). Net income: JP¥2.00b (down 26% from 1Q 2024). Profit margin: 5.0% (down from 7.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.7% 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 8% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥32.50 announced Shareholders will receive a dividend of JP¥32.50. Ex-date: 27th June 2025 Payment date: 5th September 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (57% 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 10% 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 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
Toagosei Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 Toagosei Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Reported Earnings • Feb 15
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥105. Revenue: JP¥167.6b (up 5.2% from FY 2023). Net income: JP¥11.9b (down 2.5% from FY 2023). Profit margin: 7.1% (down from 7.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.7%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.6%). Announcement • Dec 05
Toagosei Co., Ltd. to Report Fiscal Year 2024 Results on Feb 13, 2025 Toagosei Co., Ltd. announced that they will report fiscal year 2024 results on Feb 13, 2025 Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: JP¥30.62 (vs JP¥22.95 in 3Q 2023) Third quarter 2024 results: EPS: JP¥30.62 (up from JP¥22.95 in 3Q 2023). Revenue: JP¥41.8b (up 6.6% from 3Q 2023). Net income: JP¥3.47b (up 28% from 3Q 2023). Profit margin: 8.3% (up from 6.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% 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 increased by 2% per year whereas the company’s share price has increased by 7% per year. Announcement • Oct 30
Toagosei Co., Ltd. Announces Executive Changes, Effective January 1, 2025 Toagosei Co., Ltd. announced that resolved to implement a Representative Directors change of the position at a Board of Directors' meeting held on October 28, 2024. Reason for the Change: To enhance corporate value, aim to strengthen management structure. Names and Titles of the New and Old Representative Directors: Mikishi Takamura: New Position: Chairman and Representative Director; Current Position: President and Representative Director; Hidenori Kobuchi: New Position: President and Representative Director and COO; Current Position: Vice President and Representative Director General Manager, Corporate Strategy Division. Scheduled Date of Appointment: January 1, 2025. Name: Mikishi Takamura; Date of birth: March 28, 1956; Final academic record: March 1980 Faculty of Letters, Keio University; Birthplace: Tokyo prefecture; April 1980 Joined Toagosei Chemical Industry Co., Ltd. April 2002 General Manager, Finance Group, Administrative Department; April 2005 General Manager, Human Resources & General Affairs Group, Administrative Department; April 2006 General Manager, Human Resources & General Affairs Group and General Manager, Investor Relations & Public Relations Section, Administrative Department; April 2008 Deputy Plant Manager, Nagoya Plant; March 2010 Director, General Manager, Administrative Department; April 2012 Director, General Manager, Administrative Division; March 2013 Director, General Manager, Corporate Strategy Department; March 2015 Vice President and Representative Director and General Manager, Corporate Strategy Division; November 2015 President and Representative Director and General Manager, Corporate Strategy Division; January 2016 President and Representative Director (current position). Name: Hidenori Kobuchi; Date of birth: December 4, 1963; Final academic record: March 1988 - Completed the Industrial Chemistry Program at the Graduate School of Science and Technology in Meiji University; Birthplace: Yamaguchi Prefecture; April 1988 Joined Toagosei Chemical Industry Co., Ltd.; April 2010 General Manager of the Adhesive Group in the Functional Chemicals Division; April 2013 General Manager of the Polymer and UV-curable Group in the Acrylic Products Division; January 2016 General Manager of the Polymer and UV-curable Group & General Manager of the New Products Exploration Group in the Acrylic Products Division; January 2017 General Manager of the Polymer Department in the Polymer & Oligomer Division; March 2018 Executive Officer and General Manager of the Polymer & Oligomer Division, General Manager of the Polymer Department; January2019 Executive Officer and General Manager of the Polymer & Oligomer Division; January 2021 Executive Officer and President and Representative Director of MT AquaPolymer Inc.; March 2023 Director and General Manager of the Supply Chain Management Division & General Manager of the Head Office Sales Department; January 2024 Vice President and Representative Director General Manager, Corporate Strategy Division (current position). Announcement • Sep 04
Toagosei Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Toagosei Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Aug 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 3.8% 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. Declared Dividend • Aug 02
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. 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 covered by both earnings (28% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 11% 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. Price Target Changed • Jun 18
Price target increased by 17% to JP¥1,700 Up from JP¥1,450, the current price target is provided by 1 analyst. New target price is 14% above last closing price of JP¥1,491. Stock is up 16% over the past year. The company is forecast to post earnings per share of JP¥98.95 for next year compared to JP¥103 last year. Announcement • Jun 02
Toagosei Co., Ltd. to Report Q2, 2024 Results on Jul 31, 2024 Toagosei Co., Ltd. announced that they will report Q2, 2024 results on Jul 31, 2024 Buy Or Sell Opportunity • May 31
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at JP¥1,540. The fair value is estimated to be JP¥1,282, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 6.6% in the next 2 years. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: JP¥23.60 (vs JP¥18.18 in 1Q 2023) First quarter 2024 results: EPS: JP¥23.60 (up from JP¥18.18 in 1Q 2023). Revenue: JP¥39.0b (up 2.1% from 1Q 2023). Net income: JP¥2.72b (up 24% from 1Q 2023). Profit margin: 7.0% (up from 5.7% in 1Q 2023). Revenue is forecast to grow 5.7% 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 increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Final dividend of JP¥29.00 announced Shareholders will receive a dividend of JP¥29.00. Ex-date: 27th June 2024 Payment date: 6th September 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 7.2% 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 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
Toagosei Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Toagosei Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Announcement • Feb 14
Toagosei Co., Ltd., Annual General Meeting, Mar 28, 2024 Toagosei Co., Ltd., Annual General Meeting, Mar 28, 2024. Reported Earnings • Feb 14
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥103. Revenue: JP¥159.4b (flat on FY 2022). Net income: JP¥12.2b (down 2.5% from FY 2022). Profit margin: 7.6% (down from 7.8% in FY 2022). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Chemicals industry in Japan. Announcement • Feb 13
Toagosei Co., Ltd. (TSE:4045) announces an Equity Buyback for 5,000,000 shares, representing 4.28% for ¥6,000 million. Toagosei Co., Ltd. (TSE:4045) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 4.28% of its issued share capital, for ¥6,000 million. The purpose of the program is to return profits to shareholders, improve capital efficiency, expand corporate value, and implement flexible capital policies. The program will be valid till December 31, 2024. As of December 31, 2023, the company has 116,850,095 issued shares (excluding treasury stock) and 249,905 treasury shares. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥20.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 21% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.4%). Announcement • Dec 05
Toagosei Co., Ltd. to Report Fiscal Year 2023 Results on Feb 13, 2024 Toagosei Co., Ltd. announced that they will report fiscal year 2023 results on Feb 13, 2024 New Risk • Nov 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (187% cash payout ratio). Large one-off items impacting financial results. Announcement • Aug 27
Toagosei Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Toagosei Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: JP¥27.57 (vs JP¥27.18 in 2Q 2022) Second quarter 2023 results: EPS: JP¥27.57. Revenue: JP¥38.7b (down 3.7% from 2Q 2022). Net income: JP¥3.28b (down 2.7% from 2Q 2022). Profit margin: 8.5% (up from 8.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Japan. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥18.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 06 September 2023. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (2.5%). Announcement • May 31
Toagosei Co., Ltd. to Report Q2, 2023 Results on Jul 31, 2023 Toagosei Co., Ltd. announced that they will report Q2, 2023 results on Jul 31, 2023 Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: JP¥18.18 (vs JP¥32.16 in 1Q 2022) First quarter 2023 results: EPS: JP¥18.18 (down from JP¥32.16 in 1Q 2022). Revenue: JP¥38.2b (up 1.2% from 1Q 2022). Net income: JP¥2.19b (down 46% from 1Q 2022). Profit margin: 5.7% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥101 (down from JP¥108 in FY 2021). Revenue: JP¥160.8b (up 2.9% from FY 2021). Net income: JP¥12.5b (down 9.3% from FY 2021). Profit margin: 7.8% (down from 8.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.2% 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 20% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Feb 12
Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2023 Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2023. Announcement • Feb 11
Toagosei Co., Ltd. (TSE:4045) announces an Equity Buyback for 6,000,000 shares, representing 4.95% for ¥6,000 million. Toagosei Co., Ltd. (TSE:4045) announces a share repurchase program. Under the program, the company will repurchase 6,000,000 shares, representing 4.95% of its share capital, for ¥6,000 million. The company will repurchase its shares in order to further return profits to all shareholders, improve capital efficiency, expand corporate value and implement a flexible capital policy. The program will run until December 31, 2023. As of December 31, 2022, the company had 121,105,217 shares outstanding (excluding treasury shares) and 994,783 shares in treasury. Announcement • Dec 28
Toagosei Co., Ltd. to Report Fiscal Year 2022 Results on Feb 10, 2023 Toagosei Co., Ltd. announced that they will report fiscal year 2022 results on Feb 10, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 March 2023. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (3.0%). Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: JP¥23.63 (vs JP¥28.59 in 3Q 2021) Third quarter 2022 results: EPS: JP¥23.63 (down from JP¥28.59 in 3Q 2021). Revenue: JP¥40.7b (up 3.8% from 3Q 2021). Net income: JP¥2.90b (down 20% from 3Q 2021). Profit margin: 7.1% (down from 9.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: JP¥23.63 (vs JP¥28.59 in 3Q 2021) Third quarter 2022 results: EPS: JP¥23.63 (down from JP¥28.59 in 3Q 2021). Revenue: JP¥40.7b (up 3.8% from 3Q 2021). Net income: JP¥2.90b (down 20% from 3Q 2021). Profit margin: 7.1% (down from 9.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Sep 10
Toagosei Co., Ltd. to Report Q3, 2022 Results on Oct 31, 2022 Toagosei Co., Ltd. announced that they will report Q3, 2022 results on Oct 31, 2022 Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: JP¥27.18 (vs JP¥26.21 in 2Q 2021) Second quarter 2022 results: EPS: JP¥27.18 (up from JP¥26.21 in 2Q 2021). Revenue: JP¥40.2b (up 5.3% from 2Q 2021). Net income: JP¥3.38b (flat on 2Q 2021). Profit margin: 8.4% (down from 8.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.0%). Announcement • Jun 08
Toagosei Co., Ltd. to Report Q2, 2022 Results on Jul 29, 2022 Toagosei Co., Ltd. announced that they will report Q2, 2022 results on Jul 29, 2022 Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: JP¥32.16 (vs JP¥28.54 in 1Q 2021) First quarter 2022 results: EPS: JP¥32.16 (up from JP¥28.54 in 1Q 2021). Revenue: JP¥37.8b (up 5.0% from 1Q 2021). Net income: JP¥4.02b (up 9.8% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Apr 08
Toagosei Co., Ltd. to Report Q1, 2022 Results on Apr 28, 2022 Toagosei Co., Ltd. announced that they will report Q1, 2022 results on Apr 28, 2022 Announcement • Feb 12
Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2022 Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2022. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥108 (up from JP¥62.43 in FY 2020). Revenue: JP¥156.3b (up 17% from FY 2020). Net income: JP¥13.8b (up 69% from FY 2020). Profit margin: 8.8% (up from 6.1% in FY 2020). 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 remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Feb 01
Toagosei Co., Ltd. (TSE:4045) announces an Equity Buyback for 3,200,000 shares, representing 2.56% for ¥3,500 million. Toagosei Co., Ltd. (TSE:4045) announces a share repurchase program. Under the program, the company will repurchase 3,200,000 shares, representing 2.56% of its share capital, for ¥3,500 million. The company will repurchase its shares in order to further return profits to all shareholders, improve capital efficiency, expand corporate value and implement a flexible capital policy. The program will run until December 31, 2022. As of December 31, 2021, the company had 125,016,596 shares outstanding (excluding treasury shares) and 183,404 shares in treasury. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.2%). Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS JP¥26.21 (vs JP¥15.71 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥38.2b (up 21% from 2Q 2020). Net income: JP¥3.36b (up 63% from 2Q 2020). Profit margin: 8.8% (up from 6.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% 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. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 04 September 2021. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.0%). Reported Earnings • May 02
First quarter 2021 earnings released: EPS JP¥28.54 (vs JP¥13.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥36.0b (up 5.0% from 1Q 2020). Net income: JP¥3.66b (up 112% from 1Q 2020). Profit margin: 10% (up from 5.0% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 15% 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. Reported Earnings • Apr 03
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥133.4b (down 8.0% from FY 2019). Net income: JP¥8.14b (down 22% from FY 2019). Profit margin: 6.1% (down from 7.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 11
New 90-day high: JP¥1,304 The company is up 1.0% from its price of JP¥1,290 on 11 December 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 3.0% over the same period. Announcement • Feb 14
Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2021 Toagosei Co., Ltd., Annual General Meeting, Mar 30, 2021. Reported Earnings • Feb 14
Full year 2020 earnings released: EPS JP¥62.43 (vs JP¥78.91 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥133.4b (down 8.0% from FY 2019). Net income: JP¥8.14b (down 22% from FY 2019). Profit margin: 6.1% (down from 7.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jan 14
Toagosei Co., Ltd. to Report Fiscal Year 2020 Results on Feb 12, 2021 Toagosei Co., Ltd. announced that they will report fiscal year 2020 results on Feb 12, 2021 Announcement • Oct 08
Toagosei Co., Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Toagosei Co., Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Announcement • Jul 17
Toagosei Co., Ltd. to Report Q2, 2020 Results on Jul 31, 2020 Toagosei Co., Ltd. announced that they will report Q2, 2020 results on Jul 31, 2020