Buy Or Sell Opportunity • Aug 20
Now 20% undervalued Over the last 90 days, the stock has risen 4.8% to JP¥12,010. The fair value is estimated to be JP¥15,021, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 0.2% per annum over the same time period. Reported Earnings • Aug 01
First quarter 2027 earnings released: EPS: JP¥206 (vs JP¥95.70 in 1Q 2026) First quarter 2027 results: EPS: JP¥206 (up from JP¥95.70 in 1Q 2026). Revenue: JP¥39.2b (flat on 1Q 2026). Net income: JP¥12.3b (up 108% from 1Q 2026). Profit margin: 31% (up from 15% in 1Q 2026). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Declared Dividend • Jul 25
Final dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 29th September 2026 Payment date: 3rd December 2026 Dividend yield will be 3.0%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 26% 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 6.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 26
Price target increased by 7.9% to JP¥12,950 Up from JP¥12,000, the current price target is an average from 4 analysts. New target price is 6.5% above last closing price of JP¥12,165. Stock is up 37% over the past year. The company is forecast to post earnings per share of JP¥924 for next year compared to JP¥1,025 last year. Announcement • Jun 20
Yamato Kogyo Co., Ltd. to Report Q1, 2027 Results on Jul 31, 2026 Yamato Kogyo Co., Ltd. announced that they will report Q1, 2027 results on Jul 31, 2026 Buy Or Sell Opportunity • May 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.5% to JP¥11,825. The fair value is estimated to be JP¥9,792, 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 declined by 20%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are forecast to decline by 1.6% per annum over the same time period. Announcement • May 01
Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2026 Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2026. Reported Earnings • May 01
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥1,025 (up from JP¥503 in FY 2025). Revenue: JP¥160.4b (down 4.7% from FY 2025). Net income: JP¥62.4b (up 96% from FY 2025). Profit margin: 39% (up from 19% in FY 2025). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Announcement • Apr 22
Yamato Kogyo Co., Ltd. to Report Fiscal Year 2026 Results on Apr 30, 2026 Yamato Kogyo Co., Ltd. announced that they will report fiscal year 2026 results on Apr 30, 2026 Buy Or Sell Opportunity • Apr 08
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.6% to JP¥12,170. The fair value is estimated to be JP¥9,959, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 27%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥200 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Buy Or Sell Opportunity • Mar 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to JP¥12,540. The fair value is estimated to be JP¥10,358, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 27%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Buy Or Sell Opportunity • Feb 19
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to JP¥12,740. The fair value is estimated to be JP¥10,479, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 27%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: JP¥243 (vs JP¥145 loss in 3Q 2025) Third quarter 2026 results: EPS: JP¥243 (up from JP¥145 loss in 3Q 2025). Revenue: JP¥41.8b (down 13% from 3Q 2025). Net income: JP¥14.7b (up JP¥23.9b from 3Q 2025). Profit margin: 35% (up from net loss in 3Q 2025). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Declared Dividend • Dec 04
First half dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 3.9%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 28% 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 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 03
Yamato Kogyo Co., Ltd. to Report Q3, 2026 Results on Feb 02, 2026 Yamato Kogyo Co., Ltd. announced that they will report Q3, 2026 results on Feb 02, 2026 Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥216 (vs JP¥172 in 2Q 2025) Second quarter 2026 results: EPS: JP¥216 (up from JP¥172 in 2Q 2025). Revenue: JP¥37.0b (down 17% from 2Q 2025). Net income: JP¥13.2b (up 21% from 2Q 2025). Profit margin: 36% (up from 25% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Oct 31
Yamato Kogyo Co., Ltd. (TSE:5444) announces an Equity Buyback for 1,000,000 shares, representing 1.61% for ¥12,000 million. Yamato Kogyo Co., Ltd. (TSE:5444) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 1.61% of its share capital for ¥12,000 million. The purpose of program is to implement a flexible capital policy. The repurchased shares will be cancelled. The program will expire on March 24, 2026. As of September 30, 2025, the company had 62,054,851 shares in issue and 2,945,149 shares in treasury. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥200 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Price Target Changed • Sep 11
Price target increased by 7.6% to JP¥9,500 Up from JP¥8,825, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥9,874. Stock is up 40% over the past year. The company is forecast to post earnings per share of JP¥750 for next year compared to JP¥503 last year. Announcement • Sep 04
Yamato Kogyo Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Yamato Kogyo Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 New Risk • Aug 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 45% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (94% payout ratio). Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥95.70 (vs JP¥224 in 1Q 2025) First quarter 2026 results: EPS: JP¥95.70 (down from JP¥224 in 1Q 2025). Revenue: JP¥39.2b (flat on 1Q 2025). Net income: JP¥5.91b (down 59% from 1Q 2025). Profit margin: 15% (down from 36% in 1Q 2025). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 29% 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 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 04
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥503 (down from JP¥1,099 in FY 2024). Revenue: JP¥168.3b (up 2.9% from FY 2024). Net income: JP¥31.8b (down 55% from FY 2024). Profit margin: 19% (down from 43% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 2.8%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • Jun 05
Yamato Kogyo Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Yamato Kogyo Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 01
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥503 (down from JP¥1,099 in FY 2024). Revenue: JP¥168.3b (up 2.9% from FY 2024). Net income: JP¥31.8b (down 55% from FY 2024). Profit margin: 19% (down from 43% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 2.8%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Apr 30
Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 27, 2025 Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥200 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.1%). Announcement • Mar 06
Yamato Kogyo Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2025 Yamato Kogyo Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2025 Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 31%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from JP¥168.9b to JP¥173.9b. EPS estimate fell from JP¥661 to JP¥456 per share. Net income forecast to grow 20% next year vs 4.5% growth forecast for Metals and Mining industry in Japan. Consensus price target of JP¥8,650 unchanged from last update. Share price was steady at JP¥7,841 over the past week. Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥925 to JP¥713 per share. Revenue forecast steady at JP¥168.9b. Net income forecast to grow 31% next year vs 9.2% growth forecast for Metals and Mining industry in Japan. Consensus price target of JP¥8,650 unchanged from last update. Share price was steady at JP¥7,759 over the past week. Reported Earnings • Feb 01
Third quarter 2025 earnings released: JP¥145 loss per share (vs JP¥244 profit in 3Q 2024) Third quarter 2025 results: JP¥145 loss per share (down from JP¥244 profit in 3Q 2024). Revenue: JP¥47.9b (up 14% from 3Q 2024). Net loss: JP¥9.17b (down 159% from profit in 3Q 2024). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 04
First half dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 5.2%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 26% 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 decline by 1.9% over the next 3 years. However, it would need to fall by 83% to increase the payout ratio to a potentially unsustainable range. Announcement • Dec 03
Yamato Kogyo Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Yamato Kogyo Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥172 (vs JP¥283 in 2Q 2024) Second quarter 2025 results: EPS: JP¥172 (down from JP¥283 in 2Q 2024). Revenue: JP¥44.3b (up 17% from 2Q 2024). Net income: JP¥11.0b (down 39% from 2Q 2024). Profit margin: 25% (down from 48% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Japan. 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 27% per year. Announcement • Nov 02
Yamato Kogyo Co., Ltd. (TSE:5444) announces an Equity Buyback for 3,000,000 shares, representing 4.64% for ¥25,500 million. Yamato Kogyo Co., Ltd. (TSE:5444) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 4.64% of its share capital for ¥25,500 million. The program will expire on October 31, 2025. As of September 30, 2024, the company had 64,693,712 shares in issue and 306,288 shares in treasury. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥200 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (4.3%). Announcement • Sep 04
Yamato Kogyo Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Yamato Kogyo Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥276 (vs JP¥287 in 1Q 2024) First quarter 2025 results: EPS: JP¥276 (down from JP¥287 in 1Q 2024). Revenue: JP¥34.1b (down 20% from 1Q 2024). Net income: JP¥17.6b (down 4.0% from 1Q 2024). Profit margin: 52% (up from 43% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 25
Final dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 5.8%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 26% 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 decline by 5.8% over the next 3 years. However, it would need to fall by 70% to increase the payout ratio to a potentially unsustainable range. Price Target Changed • Jun 27
Price target increased by 9.0% to JP¥9,075 Up from JP¥8,325, the current price target is an average from 4 analysts. New target price is 17% above last closing price of JP¥7,745. Stock is up 28% over the past year. The company is forecast to post earnings per share of JP¥935 for next year compared to JP¥1,099 last year. Announcement • Jun 17
Yamato Kogyo Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Yamato Kogyo Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Announcement • Jun 01
PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. completed the acquisition of 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $358 million. PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. agreed to acquire 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $425 million on August 8, 2023. Nusantara Baja Profil changed its name to PT Garuda Yamato Steel on August 8, 2023. The deal has been approved by board of directors of Hanwa Co., Ltd. The deal is subject to certain conditions and scheduled to take place in Q1, 2024. Houlihan Lokey, Inc. (NYSE:HLI) acted financial advisor to Yamato Kogyo Co., Ltd. (TSE:5444) and PT Hanwa Indonesia.PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. completed the acquisition of 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $358 million on May 31, 2024. Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥1,099 (up from JP¥1,025 in FY 2023). Revenue: JP¥163.5b (down 9.4% from FY 2023). Net income: JP¥70.0b (up 7.2% from FY 2023). Profit margin: 43% (up from 36% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (3.5%). Announcement • Mar 06
Yamato Kogyo Co., Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2024 Yamato Kogyo Co., Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥244 (vs JP¥240 in 3Q 2023) Third quarter 2024 results: EPS: JP¥244 (up from JP¥240 in 3Q 2023). Revenue: JP¥41.8b (down 5.7% from 3Q 2023). Net income: JP¥15.5b (up 1.7% from 3Q 2023). Profit margin: 37% (up from 34% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Dec 07
Yamato Kogyo Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Yamato Kogyo Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥283 (vs JP¥311 in 2Q 2023) Second quarter 2024 results: EPS: JP¥283 (down from JP¥311 in 2Q 2023). Revenue: JP¥37.8b (down 21% from 2Q 2023). Net income: JP¥18.0b (down 9.1% from 2Q 2023). Profit margin: 48% (up from 42% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥150 per share at 3.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (3.2%). Announcement • Sep 07
Yamato Kogyo Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Yamato Kogyo Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Major Estimate Revision • Aug 07
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥162.8b to JP¥159.0b. EPS estimate rose from JP¥787 to JP¥883. Net income forecast to shrink 17% next year vs 11% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥6,350 to JP¥6,838. Share price rose 4.0% to JP¥7,060 over the past week. Price Target Changed • Aug 02
Price target increased by 7.7% to JP¥6,838 Up from JP¥6,350, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥6,964. Stock is up 51% over the past year. The company is forecast to post earnings per share of JP¥883 for next year compared to JP¥1,025 last year. Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥287 (vs JP¥283 in 1Q 2023) First quarter 2024 results: EPS: JP¥287 (up from JP¥283 in 1Q 2023). Revenue: JP¥42.5b (down 9.5% from 1Q 2023). Net income: JP¥18.3b (up 1.5% from 1Q 2023). Profit margin: 43% (up from 38% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Japan. 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 41% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 31
Price target increased by 10% to JP¥6,675 Up from JP¥6,050, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥6,789. Stock is up 46% over the past year. The company is forecast to post earnings per share of JP¥787 for next year compared to JP¥1,025 last year. Announcement • Jun 15
Yamato Kogyo Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Yamato Kogyo Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Major Estimate Revision • Jun 03
Consensus revenue estimates decrease by 10%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥176.9b to JP¥158.5b. EPS estimate increased from JP¥762 to JP¥794 per share. Net income forecast to shrink 23% next year vs 9.2% decline forecast for Metals and Mining industry in Japan. Consensus price target broadly unchanged at JP¥6,150. Share price was steady at JP¥5,560 over the past week. Reported Earnings • Apr 29
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥1,025 (up from JP¥619 in FY 2022). Revenue: JP¥180.4b (up 20% from FY 2022). Net income: JP¥65.3b (up 64% from FY 2022). Profit margin: 36% (up from 27% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥150 per share at 5.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 9.8% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (4.6%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥240 (vs JP¥202 in 3Q 2022) Third quarter 2023 results: EPS: JP¥240 (up from JP¥202 in 3Q 2022). Revenue: JP¥44.3b (up 11% from 3Q 2022). Net income: JP¥15.3b (up 18% from 3Q 2022). Profit margin: 34% (up from 32% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Dec 09
Yamato Kogyo Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Yamato Kogyo Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: JP¥311 (vs JP¥144 in 2Q 2022) Second quarter 2023 results: EPS: JP¥311 (up from JP¥144 in 2Q 2022). Revenue: JP¥47.8b (up 37% from 2Q 2022). Net income: JP¥19.8b (up 113% from 2Q 2022). Profit margin: 42% (up from 27% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.1% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Outside Director Pimjai Wangkiat 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 02
Second quarter 2023 earnings released: EPS: JP¥311 (vs JP¥144 in 2Q 2022) Second quarter 2023 results: EPS: JP¥311 (up from JP¥144 in 2Q 2022). Revenue: JP¥47.8b (up 37% from 2Q 2022). Net income: JP¥19.8b (up 113% from 2Q 2022). Profit margin: 42% (up from 27% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (5.4%). Announcement • Sep 07
Yamato Kogyo Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Yamato Kogyo Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Major Estimate Revision • Aug 08
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥171.8b to JP¥179.0b. EPS estimate increased from JP¥907 to JP¥1,028 per share. Net income forecast to grow 15% next year vs 22% decline forecast for Metals and Mining industry in Japan. Consensus price target broadly unchanged at JP¥5,388. Share price was steady at JP¥4,715 over the past week. Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: JP¥283 (vs JP¥84.64 in 1Q 2022) First quarter 2023 results: EPS: JP¥283 (up from JP¥84.64 in 1Q 2022). Revenue: JP¥47.0b (up 43% from 1Q 2022). Net income: JP¥18.0b (up 226% from 1Q 2022). Profit margin: 38% (up from 17% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 4.0%, compared to a 2,114% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 01
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥755 to JP¥911. Revenue forecast steady at JP¥174.0b. Net income forecast to grow 45% next year vs 24% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥5,000 to JP¥5,200. Share price rose 2.3% to JP¥4,525 over the past week. Price Target Changed • Jun 30
Price target increased to JP¥5,200 Up from JP¥4,850, the current price target is an average from 3 analysts. New target price is 16% above last closing price of JP¥4,490. Stock is up 22% over the past year. The company is forecast to post earnings per share of JP¥911 for next year compared to JP¥619 last year. Announcement • Jun 04
Yamato Kogyo Co., Ltd. to Report Q1, 2023 Results on Aug 01, 2022 Yamato Kogyo Co., Ltd. announced that they will report Q1, 2023 results on Aug 01, 2022 Major Estimate Revision • May 05
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥611 to JP¥688. Revenue forecast unchanged at JP¥174.2b. Net income forecast to grow 8.8% next year vs 22% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥4,725 to JP¥4,850. Share price was steady at JP¥4,220 over the past week. Announcement • May 02
Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 29, 2022 Yamato Kogyo Co., Ltd., Annual General Meeting, Jun 29, 2022. Reported Earnings • Apr 30
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥619 (up from JP¥75.28 in FY 2021). Revenue: JP¥150.0b (up 10% from FY 2021). Net income: JP¥39.9b (up JP¥34.9b from FY 2021). Profit margin: 27% (up from 3.7% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 11%, compared to a 8.5% growth forecast for the mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year.