Reported Earnings • May 19
Full year 2026 earnings released: EPS: JP¥214 (vs JP¥204 in FY 2025) Full year 2026 results: EPS: JP¥214 (up from JP¥204 in FY 2025). Revenue: JP¥26.1b (up 11% from FY 2025). Net income: JP¥2.07b (up 5.1% from FY 2025). Profit margin: 7.9% (down from 8.4% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 39% per year. Announcement • May 14
Yamax Corp., Annual General Meeting, Jun 23, 2026 Yamax Corp., Annual General Meeting, Jun 23, 2026. Announcement • May 09
Yamax Corp. to Report Fiscal Year 2026 Results on May 14, 2026 Yamax Corp. announced that they will report fiscal year 2026 results on May 14, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥66.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 28% and the cash payout ratio is 89%. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.6b (US$99.3m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥68.50 (vs JP¥78.29 in 3Q 2025) Third quarter 2026 results: EPS: JP¥68.50 (down from JP¥78.29 in 3Q 2025). Revenue: JP¥6.64b (up 1.4% from 3Q 2025). Net income: JP¥664.0m (down 13% from 3Q 2025). Profit margin: 10.0% (down from 12% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 06
Yamax Corp. to Report Q3, 2026 Results on Feb 05, 2026 Yamax Corp. announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: JP¥48.18 (vs JP¥39.48 in 2Q 2025) Second quarter 2026 results: EPS: JP¥48.18 (up from JP¥39.48 in 2Q 2025). Revenue: JP¥6.33b (up 26% from 2Q 2025). Net income: JP¥467.0m (up 22% from 2Q 2025). Profit margin: 7.4% (down from 7.6% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 25
Yamax Corp. to Report Q2, 2026 Results on Nov 13, 2025 Yamax Corp. announced that they will report Q2, 2026 results on Nov 13, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥52.51 (vs JP¥44.95 in 1Q 2025) First quarter 2026 results: EPS: JP¥52.51 (up from JP¥44.95 in 1Q 2025). Revenue: JP¥6.49b (up 31% from 1Q 2025). Net income: JP¥509.0m (up 18% from 1Q 2025). Profit margin: 7.8% (down from 8.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 28
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to JP¥1,910. The fair value is estimated to be JP¥1,573, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 61%. Announcement • Jul 25
Yamax Corp. to Report Q1, 2026 Results on Jul 31, 2025 Yamax Corp. announced that they will report Q1, 2026 results on Jul 31, 2025 New Risk • Jul 17
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 0% Dividend yield: 3.3% 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. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Dividend is not well covered by cash flows (0% cash payout ratio). Reported Earnings • May 09
Full year 2025 earnings released: EPS: JP¥204 (vs JP¥135 in FY 2024) Full year 2025 results: EPS: JP¥204 (up from JP¥135 in FY 2024). Revenue: JP¥23.5b (up 13% from FY 2024). Net income: JP¥1.97b (up 52% from FY 2024). Profit margin: 8.4% (up from 6.2% 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 61% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
Yamax Corp., Annual General Meeting, Jun 24, 2025 Yamax Corp., Annual General Meeting, Jun 24, 2025. Buy Or Sell Opportunity • Apr 07
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to JP¥1,102. The fair value is estimated to be JP¥1,495, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 62%. New Risk • Apr 04
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 5.3% 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 Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥12.0b market cap, or US$82.8m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,231, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 10x in the Basic Materials industry in Japan. Total returns to shareholders of 363% over the past three years. Announcement • Mar 27
Yamax Corp. to Report Fiscal Year 2025 Results on May 08, 2025 Yamax Corp. announced that they will report fiscal year 2025 results on May 08, 2025 New Risk • Mar 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.7b (US$98.1m) 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥58.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 20% and the cash payout ratio is 82%. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥78.29 (vs JP¥49.10 in 3Q 2024) Third quarter 2025 results: EPS: JP¥78.29 (up from JP¥49.10 in 3Q 2024). Revenue: JP¥6.55b (up 9.8% from 3Q 2024). Net income: JP¥759.0m (up 61% from 3Q 2024). Profit margin: 12% (up from 7.9% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Yamax Corp. to Report Q3, 2025 Results on Feb 06, 2025 Yamax Corp. announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥39.47 (vs JP¥33.43 in 2Q 2024) Second quarter 2025 results: EPS: JP¥39.47 (up from JP¥33.43 in 2Q 2024). Revenue: JP¥5.04b (up 13% from 2Q 2024). Net income: JP¥382.0m (up 19% from 2Q 2024). Profit margin: 7.6% (up from 7.2% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,451, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 431% over the past three years. Announcement • Oct 10
Yamax Corp. to Report Q2, 2025 Results on Nov 07, 2024 Yamax Corp. announced that they will report Q2, 2025 results on Nov 07, 2024 New Risk • Aug 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 31x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Shareholders have been substantially diluted in the past year (over 31x increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 14x cash flows per share). Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥44.95 (vs JP¥13.50 in 1Q 2024) First quarter 2025 results: EPS: JP¥44.95 (up from JP¥13.50 in 1Q 2024). Revenue: JP¥4.97b (up 21% from 1Q 2024). Net income: JP¥433.0m (up 233% from 1Q 2024). Profit margin: 8.7% (up from 3.2% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 06
Now 29% overvalued Over the last 90 days, the stock has fallen 38% to JP¥992. The fair value is estimated to be JP¥767, however this is not to be taken as a sell 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 40%. New Risk • Aug 05
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 7.7% 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 (7.7% average weekly change). Minor Risk Market cap is less than US$100m (JP¥8.11b market cap, or US$57.0m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to JP¥842, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 253% over the past three years. Announcement • Jul 07
Yamax Corp. to Report Q1, 2025 Results on Aug 08, 2024 Yamax Corp. announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 11
Full year 2024 earnings released: EPS: JP¥135 (vs JP¥56.13 in FY 2023) Full year 2024 results: EPS: JP¥135 (up from JP¥56.13 in FY 2023). Revenue: JP¥20.8b (up 15% from FY 2023). Net income: JP¥1.30b (up 140% from FY 2023). Profit margin: 6.2% (up from 3.0% 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 40% per year but the company’s share price has increased by 81% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
Yamax Corp., Annual General Meeting, Jun 25, 2024 Yamax Corp., Annual General Meeting, Jun 25, 2024. New Risk • Apr 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.3b (US$98.9m) 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 Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risk Market cap is less than US$100m (JP¥15.3b market cap, or US$98.9m). Announcement • Mar 28
Yamax Corp. to Report Fiscal Year 2024 Results on May 09, 2024 Yamax Corp. announced that they will report fiscal year 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥1,759, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 12x in the Basic Materials industry in Japan. Total returns to shareholders of 710% over the past three years. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥49.10 (vs JP¥20.66 in 3Q 2023) Third quarter 2024 results: EPS: JP¥49.10 (up from JP¥20.66 in 3Q 2023). Revenue: JP¥5.96b (up 19% from 3Q 2023). Net income: JP¥473.0m (up 138% from 3Q 2023). Profit margin: 7.9% (up from 4.0% 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 30% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,481, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 12x in the Basic Materials industry in Japan. Total returns to shareholders of 575% over the past three years. Announcement • Dec 28
Yamax Corp. to Report Q3, 2024 Results on Feb 08, 2024 Yamax Corp. announced that they will report Q3, 2024 results on Feb 08, 2024 Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,032, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 388% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥33.43 (vs JP¥14.04 in 2Q 2023) Second quarter 2024 results: EPS: JP¥33.43 (up from JP¥14.04 in 2Q 2023). Revenue: JP¥4.47b (up 6.6% from 2Q 2023). Net income: JP¥322.0m (up 139% from 2Q 2023). Profit margin: 7.2% (up from 3.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 07
Yamax Corp. to Report Q2, 2024 Results on Nov 09, 2023 Yamax Corp. announced that they will report Q2, 2024 results on Nov 09, 2023 Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥13.50 (vs JP¥7.08 in 1Q 2023) First quarter 2024 results: EPS: JP¥13.50 (up from JP¥7.08 in 1Q 2023). Revenue: JP¥4.11b (up 25% from 1Q 2023). Net income: JP¥130.0m (up 91% from 1Q 2023). Profit margin: 3.2% (up from 2.1% in 1Q 2023). 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 increased by 48% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 02
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 7.9% 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 (7.9% average weekly change). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 13x cash flows per share). Market cap is less than US$100m (JP¥7.82b market cap, or US$54.7m). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥810, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 11x in the Basic Materials industry in Japan. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥549, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 9x in the Basic Materials industry in Japan. Total returns to shareholders of 146% over the past three years. Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥56.12 (vs JP¥37.91 in FY 2022) Full year 2023 results: EPS: JP¥56.12 (up from JP¥37.91 in FY 2022). Revenue: JP¥18.0b (up 14% from FY 2022). Net income: JP¥540.0m (up 48% from FY 2022). Profit margin: 3.0% (up from 2.3% 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 18% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Yamax Corp., Annual General Meeting, Jun 27, 2023 Yamax Corp., Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 2.6%. 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 released: EPS: JP¥20.66 (vs JP¥12.60 in 3Q 2022) Third quarter 2023 results: EPS: JP¥20.66 (up from JP¥12.60 in 3Q 2022). Revenue: JP¥5.03b (up 15% from 3Q 2022). Net income: JP¥199.0m (up 65% from 3Q 2022). Profit margin: 4.0% (up from 2.8% 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 13% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 28
Yamax Corp. to Report Q3, 2023 Results on Feb 10, 2023 Yamax Corp. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 9 highly experienced directors. No independent directors (8 non-independent directors). External Director Yoji Tanabe was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥14.04 (vs JP¥10.41 in 2Q 2022) Second quarter 2023 results: EPS: JP¥14.04 (up from JP¥10.41 in 2Q 2022). Revenue: JP¥4.19b (up 17% from 2Q 2022). Net income: JP¥135.0m (up 35% from 2Q 2022). Profit margin: 3.2% (up from 2.8% 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 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 29
Yamax Corp. to Report Q2, 2023 Results on Nov 04, 2022 Yamax Corp. announced that they will report Q2, 2023 results on Nov 04, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥14.16 (vs JP¥16.88 in 1Q 2022) First quarter 2023 results: EPS: JP¥14.16 (down from JP¥16.88 in 1Q 2022). Revenue: JP¥3.29b (down 1.7% from 1Q 2022). Net income: JP¥68.0m (down 16% from 1Q 2022). Profit margin: 2.1% (down from 2.4% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 24
Yamax Corp. to Report Q1, 2023 Results on Aug 05, 2022 Yamax Corp. announced that they will report Q1, 2023 results on Aug 05, 2022 Announcement • May 15
Yamax Corp., Annual General Meeting, Jun 27, 2022 Yamax Corp., Annual General Meeting, Jun 27, 2022. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. No independent directors (8 non-independent directors). External Director Yoji Tanabe was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
Yamax Corp. to Report Fiscal Year 2022 Results on May 13, 2022 Yamax Corp. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (2.7%). Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥25.19 (down from JP¥43.20 in 3Q 2021). Revenue: JP¥4.38b (down 19% from 3Q 2021). Net income: JP¥121.0m (down 42% from 3Q 2021). Profit margin: 2.8% (down from 3.9% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS JP¥20.82 (vs JP¥5.49 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥3.60b (down 12% from 2Q 2021). Net income: JP¥100.0m (up 270% from 2Q 2021). Profit margin: 2.8% (up from 0.7% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • May 10
Full year 2021 earnings released: EPS JP¥90.67 (vs JP¥45.98 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥18.6b (up 14% from FY 2020). Net income: JP¥442.0m (up 96% from FY 2020). Profit margin: 2.4% (up from 1.4% in FY 2020). 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 fallen by 3% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥556, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 10x in the Basic Materials industry in Japan. Total loss to shareholders of 11% over the past three years. Reported Earnings • Feb 09
Third quarter 2021 earnings released: EPS JP¥43.19 (vs JP¥18.92 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.38b (up 19% from 3Q 2020). Net income: JP¥210.0m (up 126% from 3Q 2020). Profit margin: 3.9% (up from 2.1% in 3Q 2020). The increase in margin was driven by higher revenue. 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 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 07
New 90-day high: JP¥490 The company is up 3.0% from its price of JP¥474 on 09 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: JP¥447 The company is down 8.0% from its price of JP¥486 on 23 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 Basic Materials industry, which is down 4.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day low: JP¥462 The company is down 19% from its price of JP¥568 on 02 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 Basic Materials industry, which is up 1.0% over the same period. Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS JP¥5.49 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JP¥4.08b (up 10% from 2Q 2020). Net income: JP¥27.0m (down 70% from 2Q 2020). Profit margin: 0.7% (down from 2.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 08
Second quarter 2021 earnings released: EPS JP¥5.49 The company reported a soft second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: JP¥4.08b (up 10% from 2Q 2020). Net income: JP¥27.0m (down 70% from 2Q 2020). Profit margin: 0.7% (down from 2.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% 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 • Sep 26
Yamax Corp. to Report Q2, 2021 Results on Nov 06, 2020 Yamax Corp. announced that they will report Q2, 2021 results on Nov 06, 2020 Announcement • Jul 26
Yamax Corp. to Report Q1, 2021 Results on Aug 07, 2020 Yamax Corp. announced that they will report Q1, 2021 results on Aug 07, 2020