New Risk • Aug 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 6.6% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Aug 10
First quarter 2027 earnings released: EPS: JP¥101 (vs JP¥152 in 1Q 2026) First quarter 2027 results: EPS: JP¥101 (down from JP¥152 in 1Q 2026). Revenue: JP¥12.9b (down 3.7% from 1Q 2026). Net income: JP¥1.32b (down 36% from 1Q 2026). Profit margin: 10% (down from 15% in 1Q 2026). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 28% per year. Declared Dividend • Jul 31
Final dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 29th September 2026 Payment date: 14th December 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (31% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 03
Yushiro Inc. to Report Q1, 2027 Results on Aug 07, 2026 Yushiro Inc. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥362 (vs JP¥318 in FY 2025) Full year 2026 results: EPS: JP¥362 (up from JP¥318 in FY 2025). Revenue: JP¥51.2b (down 7.8% from FY 2025). Net income: JP¥4.79b (up 11% from FY 2025). Profit margin: 9.4% (up from 7.8% in FY 2025). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
Yushiro Inc. (TSE:5013) announces an Equity Buyback for 265,000 shares, representing 2.03% for ¥700 million. Yushiro Inc. (TSE:5013) announces a share repurchase program. Under the program, the company will repurchase up to 245,000 shares, representing 1.85% of its issued share capital, for ¥544.635 million. The shares will be repurchases at a price of ¥2,223 per share. The purpose of the program is to strengthen shareholder returns and improve capital efficiency as part of the capital policy in the medium-term management plan. The program will run until July 31, 2026. As of April 30, 2026, there are 13,024,420 outstanding shares and 875,645 shares in treasury. Announcement • May 15
Yushiro Inc., Annual General Meeting, Jun 23, 2026 Yushiro Inc., Annual General Meeting, Jun 23, 2026. Announcement • May 09
Yushiro Inc. to Report Fiscal Year 2026 Results on May 15, 2026 Yushiro Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥121 (vs JP¥97.10 in 3Q 2025) Third quarter 2026 results: EPS: JP¥121 (up from JP¥97.10 in 3Q 2025). Revenue: JP¥13.1b (down 7.4% from 3Q 2025). Net income: JP¥1.59b (up 20% from 3Q 2025). Profit margin: 12% (up from 9.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 50% per year whereas the company’s share price has increased by 54% per year. New Risk • Jan 19
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 5.4% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥3,320, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 379% over the past three years. Declared Dividend • Dec 13
First half dividend of JP¥68.00 announced Dividend of JP¥68.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 8th June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 42% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 02
Yushiro Inc. to Report Q3, 2026 Results on Feb 06, 2026 Yushiro Inc. announced that they will report Q3, 2026 results on Feb 06, 2026 Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,614, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 269% over the past three years. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥66.56 (vs JP¥78.19 in 2Q 2025) Second quarter 2026 results: EPS: JP¥66.56 (down from JP¥78.19 in 2Q 2025). Revenue: JP¥12.3b (down 16% from 2Q 2025). Net income: JP¥884.0m (down 17% from 2Q 2025). Profit margin: 7.2% (down from 7.3% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
Yushiro Inc. (TSE:5013) announces an Equity Buyback for 245,000 shares, representing 1.85% for ¥544.64 million. Yushiro Inc. (TSE:5013) announces a share repurchase program. Under the program, the company will repurchase up to 245,000 shares, representing 1.85% of its issued share capital, for ¥544.635 million. The shares will be repurchases at a price of ¥2,223 per share. The purpose of the program is to strengthen shareholder returns and improve capital efficiency as part of the capital policy in the medium-term management plan. As of October 31, 2025, there are 13,257,920 outstanding shares and 642,145 shares in treasury. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.6%). Announcement • Sep 02
Yushiro Inc. to Report Q2, 2026 Results on Nov 11, 2025 Yushiro Inc. announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥152 (vs JP¥104 in 1Q 2025) First quarter 2026 results: EPS: JP¥152 (up from JP¥104 in 1Q 2025). Revenue: JP¥13.4b (up 1.3% from 1Q 2025). Net income: JP¥2.05b (up 44% from 1Q 2025). Profit margin: 15% (up from 11% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥318 (vs JP¥221 in FY 2024) Full year 2025 results: EPS: JP¥318 (up from JP¥221 in FY 2024). Revenue: JP¥55.5b (up 4.8% from FY 2024). Net income: JP¥4.32b (up 43% from FY 2024). Profit margin: 7.8% (up from 5.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Jun 24
Yushiro Inc. to Report Q1, 2026 Results on Aug 06, 2025 Yushiro Inc. announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • May 18
Full year 2025 earnings released: EPS: JP¥318 (vs JP¥221 in FY 2024) Full year 2025 results: EPS: JP¥318 (up from JP¥221 in FY 2024). Revenue: JP¥55.5b (up 4.8% from FY 2024). Net income: JP¥4.32b (up 43% from FY 2024). Profit margin: 7.8% (up from 5.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Yushiro Inc. (TSE:5013) announces an Equity Buyback for 400,000 shares, representing 2.96% for ¥650 million. Yushiro Inc. (TSE:5013) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 2.96% of its issued share capital, for ¥650 million. The purpose of the program is to strengthen shareholder returns and improve capital efficiency as part of the capital policy in the medium-term management plan. As of April 30, 2025, there are 13,514,520 outstanding shares and 385,545 shares in treasury. Announcement • May 14
Yushiro Inc., Annual General Meeting, Jun 24, 2025 Yushiro Inc., Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,620, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 10x in the Chemicals industry in Japan. Total returns to shareholders of 79% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 05
Yushiro Chemical Industry Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Yushiro Chemical Industry Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥97.10 (vs JP¥81.27 in 3Q 2024) Third quarter 2025 results: EPS: JP¥97.10 (up from JP¥81.27 in 3Q 2024). Revenue: JP¥14.2b (flat on 3Q 2024). Net income: JP¥1.32b (up 19% from 3Q 2024). Profit margin: 9.3% (up from 7.8% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 11
First half dividend of JP¥68.00 announced Shareholders will receive a dividend of JP¥68.00. Ex-date: 28th March 2025 Payment date: 6th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 05
Yushiro Chemical Industry Co., Ltd. to Report Q3, 2025 Results on Feb 07, 2025 Yushiro Chemical Industry Co., Ltd. announced that they will report Q3, 2025 results on Feb 07, 2025 Announcement • Nov 22
Yushiro Chemical Industry Co., Ltd. (TSE:5013) announces an Equity Buyback for 100,000 shares, representing 0.73% for ¥216.2 million. Yushiro Chemical Industry Co., Ltd. (TSE:5013) announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing 0.73% of its issued share capital, for ¥216.2 million. The shares will be repurchased at ¥2,162 per share. The purpose of the program is to improve capital efficiency and to implement a flexible capital policy that responds to the future business environment. As of October 31, 2024, there are 13,609,520 outstanding shares and 290,545 shares in treasury. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to JP¥2,123, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 118% over the past three years. New Risk • Nov 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥78.18 (vs JP¥81.12 in 2Q 2024) Second quarter 2025 results: EPS: JP¥78.18 (down from JP¥81.12 in 2Q 2024). Revenue: JP¥14.5b (up 11% from 2Q 2024). Net income: JP¥1.06b (down 3.6% from 2Q 2024). Profit margin: 7.3% (down from 8.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Announcement • Sep 13
Yushiro Chemical Industry Co., Ltd. to Report Q2, 2025 Results on Nov 08, 2024 Yushiro Chemical Industry Co., Ltd. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥104 (vs JP¥51.51 in 1Q 2024) First quarter 2025 results: EPS: JP¥104 (up from JP¥51.51 in 1Q 2024). Revenue: JP¥13.3b (up 6.7% from 1Q 2024). Net income: JP¥1.42b (up 103% from 1Q 2024). Profit margin: 11% (up from 5.6% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 07
Now 25% overvalued Over the last 90 days, the stock has fallen 17% to JP¥1,623. The fair value is estimated to be JP¥1,299, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 42%. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥1,325, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 24% over the past three years. Declared Dividend • Jul 11
Final dividend increased to JP¥30.00 Dividend of JP¥30.00 is 50% higher than last year. Ex-date: 27th September 2024 Payment date: 11th December 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jun 14
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 5.5% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.5% average weekly change). Announcement • Jun 06
Yushiro Chemical Industry Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Yushiro Chemical Industry Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥221 (vs JP¥65.99 in FY 2023) Full year 2024 results: EPS: JP¥221 (up from JP¥65.99 in FY 2023). Revenue: JP¥53.0b (up 13% from FY 2023). Net income: JP¥3.01b (up 235% from FY 2023). Profit margin: 5.7% (up from 1.9% in FY 2023). 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 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,650, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 56% over the past three years. Announcement • May 17
Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 25, 2024 Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 25, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Announcement • Mar 14
Yushiro Chemical Industry Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Yushiro Chemical Industry Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥81.26 (vs JP¥24.84 in 3Q 2023) Third quarter 2024 results: EPS: JP¥81.26 (up from JP¥24.84 in 3Q 2023). Revenue: JP¥14.1b (up 13% from 3Q 2023). Net income: JP¥1.11b (up 227% from 3Q 2023). Profit margin: 7.8% (up from 2.7% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Dec 08
Yushiro Chemical Industry Co., Ltd. to Report Q3, 2024 Results on Feb 06, 2024 Yushiro Chemical Industry Co., Ltd. announced that they will report Q3, 2024 results on Feb 06, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: JP¥81.12 (vs JP¥6.61 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥81.12 (up from JP¥6.61 loss in 2Q 2023). Revenue: JP¥13.1b (up 13% from 2Q 2023). Net income: JP¥1.10b (up JP¥1.19b from 2Q 2023). Profit margin: 8.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%). Announcement • Sep 06
Yushiro Chemical Industry Co., Ltd. to Report Q2, 2024 Results on Nov 06, 2023 Yushiro Chemical Industry Co., Ltd. announced that they will report Q2, 2024 results on Nov 06, 2023 New Risk • Aug 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). 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 28% per year over the past 5 years. Reported Earnings • Aug 05
First quarter 2024 earnings released: EPS: JP¥51.51 (vs JP¥14.26 in 1Q 2023) First quarter 2024 results: EPS: JP¥51.51 (up from JP¥14.26 in 1Q 2023). Revenue: JP¥12.4b (up 22% from 1Q 2023). Net income: JP¥701.0m (up 261% from 1Q 2023). Profit margin: 5.6% (up from 1.9% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Jul 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.2b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks 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 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥14.2b market cap, or US$99.8m). Announcement • Jun 03
Yushiro Chemical Industry Co., Ltd. to Report Q1, 2024 Results on Aug 04, 2023 Yushiro Chemical Industry Co., Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥65.98 (vs JP¥20.07 in FY 2022) Full year 2023 results: EPS: JP¥65.98 (up from JP¥20.07 in FY 2022). Revenue: JP¥46.8b (up 24% from FY 2022). Net income: JP¥898.0m (up 229% from FY 2022). Profit margin: 1.9% (up from 0.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • May 13
Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 27, 2023 Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 08 June 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥24.83 (vs JP¥17.34 in 3Q 2022) Third quarter 2023 results: EPS: JP¥24.83 (up from JP¥17.34 in 3Q 2022). Revenue: JP¥12.5b (up 31% from 3Q 2022). Net income: JP¥338.0m (up 43% from 3Q 2022). Profit margin: 2.7% (up from 2.5% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Announcement • Dec 09
Yushiro Chemical Industry Co., Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Yushiro Chemical Industry Co., Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Atsuko Sugiyama was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings released: JP¥6.61 loss per share (vs JP¥16.10 profit in 2Q 2022) Second quarter 2023 results: JP¥6.61 loss per share (down from JP¥16.10 profit in 2Q 2022). Revenue: JP¥11.5b (up 25% from 2Q 2022). Net loss: JP¥90.0m (down 141% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.6%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.9%). Announcement • Sep 09
Yushiro Chemical Industry Co., Ltd. to Report Q2, 2023 Results on Nov 04, 2022 Yushiro Chemical Industry Co., Ltd. announced that they will report Q2, 2023 results on Nov 04, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥14.26 (vs JP¥41.96 in 1Q 2022) First quarter 2023 results: EPS: JP¥14.26 (down from JP¥41.96 in 1Q 2022). Revenue: JP¥10.2b (up 15% from 1Q 2022). Net income: JP¥194.0m (down 66% from 1Q 2022). Profit margin: 1.9% (down from 6.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Jun 03
Yushiro Chemical Industry Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Yushiro Chemical Industry Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥20.07 (vs JP¥72.01 in FY 2021) Full year 2022 results: EPS: JP¥20.07 (down from JP¥72.01 in FY 2021). Revenue: JP¥37.7b (up 19% from FY 2021). Net income: JP¥273.0m (down 72% from FY 2021). Profit margin: 0.7% (down from 3.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • May 18
Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 24, 2022 Yushiro Chemical Industry Co., Ltd., Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 2 highly experienced directors. 1 independent director (10 non-independent directors). President, Senior MD & Director Masanori Arisaka was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Yushiro Chemical Industry Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Yushiro Chemical Industry Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 09 June 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥17.34 (down from JP¥33.49 in 3Q 2021). Revenue: JP¥9.49b (up 12% from 3Q 2021). Net income: JP¥236.0m (down 48% from 3Q 2021). Profit margin: 2.5% (down from 5.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. 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 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥16.10 (vs JP¥9.72 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥9.26b (up 37% from 2Q 2021). Net income: JP¥219.0m (up JP¥351.0m from 2Q 2021). Profit margin: 2.4% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.9%).