Reported Earnings • Jul 31
First quarter 2027 earnings released: EPS: JP¥51.43 (vs JP¥40.79 in 1Q 2026) First quarter 2027 results: EPS: JP¥51.43 (up from JP¥40.79 in 1Q 2026). Revenue: JP¥5.87b (up 15% from 1Q 2026). Net income: JP¥382.0m (up 26% from 1Q 2026). Profit margin: 6.5% (up from 6.0% in 1Q 2026). 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 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 01
Daido Steel Co., Ltd. (TSE:5471) completed the acquisition of additional 23.60% stake in Tohoku Steel Co., Ltd. (TSE:5484) for approximately ¥7.8 billion. Daido Steel Co., Ltd. (TSE:5471) agreed to acquire additional 26.05% stake in Tohoku Steel Co., Ltd. (TSE:5484) for approximately ¥9 billion on May 15, 2026. As part of consideration ¥8.69 billion is being paid based on ¥4491 per share by Daido Steel Co., Ltd. towards the common equity of Tohoku Steel Co., Ltd. Upon completion Daido Steel Co., Ltd. will own 60.37% stake in Tohoku Steel Co., Ltd.
The expected completion of the transaction is May 18, 2026 to June 29, 2026.
Daido Steel Co., Ltd. (TSE:5471) completed the acquisition of additional 23.60% stake in Tohoku Steel Co., Ltd. (TSE:5484) for approximately ¥7.8 billion on June 29, 2026. Announcement • Jun 30
Tohoku Steel Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Tohoku Steel Co., Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥172 (vs JP¥134 in FY 2025) Full year 2026 results: EPS: JP¥172 (up from JP¥134 in FY 2025). Revenue: JP¥20.9b (down 1.2% from FY 2025). Net income: JP¥1.28b (up 27% from FY 2025). Profit margin: 6.1% (up from 4.8% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 20
Now 47% overvalued after recent price rise Over the last 90 days, the stock has risen 94% to JP¥4,480. The fair value is estimated to be JP¥3,047, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Announcement • May 18
Tohoku Steel Co., Ltd., Annual General Meeting, Jun 29, 2026 Tohoku Steel Co., Ltd., Annual General Meeting, Jun 29, 2026. New Risk • May 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.4% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥2,914, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 14x in the Metals and Mining industry in Japan. Total returns to shareholders of 75% over the past three years. Announcement • May 09
Tohoku Steel Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Tohoku Steel Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 New Risk • Mar 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.7b (US$99.1m) 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 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 24 June 2026. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.5%). Reported Earnings • Jan 28
Third quarter 2026 earnings released: EPS: JP¥50.22 (vs JP¥24.57 in 3Q 2025) Third quarter 2026 results: EPS: JP¥50.22 (up from JP¥24.57 in 3Q 2025). Revenue: JP¥5.22b (down 2.4% from 3Q 2025). Net income: JP¥373.0m (up 102% from 3Q 2025). Profit margin: 7.1% (up from 3.5% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Jan 07
Tohoku Steel Co., Ltd. to Report Q3, 2026 Results on Jan 27, 2026 Tohoku Steel Co., Ltd. announced that they will report Q3, 2026 results on Jan 27, 2026 Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: JP¥29.08 (vs JP¥30.02 in 2Q 2025) Second quarter 2026 results: EPS: JP¥29.08 (down from JP¥30.02 in 2Q 2025). Revenue: JP¥5.03b (down 4.0% from 2Q 2025). Net income: JP¥216.0m (down 4.4% from 2Q 2025). Profit margin: 4.3% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Announcement • Aug 02
Tohoku Steel Co., Ltd. to Report Q2, 2026 Results on Oct 30, 2025 Tohoku Steel Co., Ltd. announced that they will report Q2, 2026 results on Oct 30, 2025 Reported Earnings • Jul 30
First quarter 2026 earnings released: EPS: JP¥40.79 (vs JP¥42.64 in 1Q 2025) First quarter 2026 results: EPS: JP¥40.79 (down from JP¥42.64 in 1Q 2025). Revenue: JP¥5.09b (down 8.4% from 1Q 2025). Net income: JP¥303.0m (down 5.6% from 1Q 2025). Profit margin: 6.0% (up from 5.8% in 1Q 2025). The increase in margin was driven by lower expenses. 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 9% per year, which means it is well ahead of earnings. New Risk • Jul 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.8b (US$99.5m) 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 Earnings have declined by 2.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥14.8b market cap, or US$99.5m). Reported Earnings • Jun 27
Full year 2025 earnings released: EPS: JP¥134 (vs JP¥129 in FY 2024) Full year 2025 results: EPS: JP¥134 (up from JP¥129 in FY 2024). Revenue: JP¥21.2b (flat on FY 2024). Net income: JP¥1.01b (up 3.5% from FY 2024). Profit margin: 4.8% (up from 4.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • May 21
Tohoku Steel Co., Ltd. to Report Q1, 2026 Results on Jul 29, 2025 Tohoku Steel Co., Ltd. announced that they will report Q1, 2026 results on Jul 29, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥134 (vs JP¥129 in FY 2024) Full year 2025 results: EPS: JP¥134 (up from JP¥129 in FY 2024). Revenue: JP¥21.2b (flat on FY 2024). Net income: JP¥1.01b (up 3.5% from FY 2024). Profit margin: 4.8% (up from 4.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 14
Tohoku Steel Co., Ltd., Annual General Meeting, Jun 23, 2025 Tohoku Steel Co., Ltd., Annual General Meeting, Jun 23, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (4.1%). Announcement • Mar 01
Tohoku Steel Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Tohoku Steel Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: JP¥24.57 (vs JP¥31.21 in 3Q 2024) Third quarter 2025 results: EPS: JP¥24.57 (down from JP¥31.21 in 3Q 2024). Revenue: JP¥5.35b (up 1.8% from 3Q 2024). Net income: JP¥185.0m (down 21% from 3Q 2024). Profit margin: 3.5% (down from 4.5% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Jan 29
Tohoku Steel Co., Ltd. (TSE:5484) announces an Equity Buyback for 130,000 shares, representing 1.73% for ¥274.69 million. Tohoku Steel Co., Ltd. (TSE:5484) announces a share repurchase program. Under the program, the company will repurchase up to 130,000 shares, representing 1.73% of its issued share capital, for ¥274.69 million. The repurchase will be conducted at a price of ¥2,113 yen per share. The purpose of the buyback is to strengthen shareholder returns. The repurchase results will be published after trading on January 30, 2025. As of December 31, 2024, the company had 7,528,859 shares in issue(excluding treasury stock) and shares in 21,141 treasury. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (JP¥15.2b market cap, or US$96.6m). New Risk • Dec 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.4b (US$99.1m) 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (JP¥15.4b market cap, or US$99.1m). Announcement • Nov 01
Tohoku Steel Co., Ltd. to Report Q3, 2025 Results on Jan 29, 2025 Tohoku Steel Co., Ltd. announced that they will report Q3, 2025 results on Jan 29, 2025 Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥30.02 (vs JP¥25.37 in 2Q 2024) Second quarter 2025 results: EPS: JP¥30.02 (up from JP¥25.37 in 2Q 2024). Revenue: JP¥5.24b (flat on 2Q 2024). Net income: JP¥226.0m (up 18% from 2Q 2024). Profit margin: 4.3% (up from 3.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. New Risk • Oct 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.1b (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 Risk Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (JP¥15.1b market cap, or US$99.8m). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (4.3%). Announcement • Aug 01
Tohoku Steel Co., Ltd. to Report Q2, 2025 Results on Oct 30, 2024 Tohoku Steel Co., Ltd. announced that they will report Q2, 2025 results on Oct 30, 2024 New Risk • Aug 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • May 23
Tohoku Steel Co., Ltd. to Report Q1, 2025 Results on Jul 30, 2024 Tohoku Steel Co., Ltd. announced that they will report Q1, 2025 results on Jul 30, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: JP¥129 (vs JP¥148 in FY 2023) Full year 2024 results: EPS: JP¥129 (down from JP¥148 in FY 2023). Revenue: JP¥21.3b (down 1.0% from FY 2023). Net income: JP¥974.0m (down 13% from FY 2023). Profit margin: 4.6% (down from 5.2% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Tohoku Steel Co., Ltd., Annual General Meeting, Jun 25, 2024 Tohoku Steel Co., Ltd., Annual General Meeting, Jun 25, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (3.5%). Announcement • Mar 02
Tohoku Steel Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Tohoku Steel Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: JP¥31.21 (vs JP¥33.21 in 3Q 2023) Third quarter 2024 results: EPS: JP¥31.21 (down from JP¥33.21 in 3Q 2023). Revenue: JP¥5.26b (down 4.6% from 3Q 2023). Net income: JP¥235.0m (down 6.0% from 3Q 2023). Profit margin: 4.5% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Nov 30
Tohoku Steel Co., Ltd. to Report Q3, 2024 Results on Jan 29, 2024 Tohoku Steel Co., Ltd. announced that they will report Q3, 2024 results on Jan 29, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: JP¥25.37 (vs JP¥42.64 in 2Q 2023) Second quarter 2024 results: EPS: JP¥25.37 (down from JP¥42.64 in 2Q 2023). Revenue: JP¥5.23b (down 3.4% from 2Q 2023). Net income: JP¥191.0m (down 41% from 2Q 2023). Profit margin: 3.7% (down from 5.9% in 2Q 2023). The decrease in margin was driven by lower revenue. 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 7% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (3.2%). Announcement • Aug 27
Tohoku Steel Co., Ltd. to Report Q2, 2024 Results on Oct 30, 2023 Tohoku Steel Co., Ltd. announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥55.52 (vs JP¥46.36 in 1Q 2023) First quarter 2024 results: EPS: JP¥55.52 (up from JP¥46.36 in 1Q 2023). Revenue: JP¥5.48b (up 8.2% from 1Q 2023). Net income: JP¥418.0m (up 20% from 1Q 2023). Profit margin: 7.6% (up from 6.9% 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 4% per year whereas the company’s share price has increased by 9% per year. Announcement • Jun 03
Tohoku Steel Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Tohoku Steel Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥148 (vs JP¥153 in FY 2022) Full year 2023 results: EPS: JP¥148 (down from JP¥153 in FY 2022). Revenue: JP¥21.6b (up 8.4% from FY 2022). Net income: JP¥1.12b (down 3.1% from FY 2022). Profit margin: 5.2% (down from 5.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 13
Tohoku Steel Co., Ltd., Annual General Meeting, Jun 26, 2023 Tohoku Steel Co., Ltd., Annual General Meeting, Jun 26, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.6%). Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: JP¥33.21 (vs JP¥45.03 in 3Q 2022) Third quarter 2023 results: EPS: JP¥33.21 (down from JP¥45.03 in 3Q 2022). Revenue: JP¥5.51b (up 9.2% from 3Q 2022). Net income: JP¥250.0m (down 26% from 3Q 2022). Profit margin: 4.5% (down from 6.7% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Nov 27
Tohoku Steel Co., Ltd. to Report Q3, 2023 Results on Jan 30, 2023 Tohoku Steel Co., Ltd. announced that they will report Q3, 2023 results on Jan 30, 2023 Board Change • Nov 16
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. 5 experienced directors. 4 highly experienced directors. 1 independent director (5 non-independent directors). Independent Board Director/Trustee Susumu Ushigome was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥42.64 (vs JP¥53.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥42.64 (down from JP¥53.79 in 2Q 2022). Revenue: JP¥5.42b (up 12% from 2Q 2022). Net income: JP¥321.0m (down 21% from 2Q 2022). Profit margin: 5.9% (down from 8.4% in 2Q 2022). 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 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (5.4%). Announcement • Sep 10
Tohoku Steel Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Tohoku Steel Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥46.36 (vs JP¥58.18 in 1Q 2022) First quarter 2023 results: EPS: JP¥46.36 (down from JP¥58.18 in 1Q 2022). Revenue: JP¥5.06b (up 3.0% from 1Q 2022). Net income: JP¥349.0m (down 20% from 1Q 2022). Profit margin: 6.9% (down from 8.9% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • May 29
Tohoku Steel Co., Ltd. to Report Q1, 2023 Results on Jul 27, 2022 Tohoku Steel Co., Ltd. announced that they will report Q1, 2023 results on Jul 27, 2022 Announcement • May 18
Tohoku Steel Co., Ltd., Annual General Meeting, Jun 27, 2022 Tohoku Steel Co., Ltd., Annual General Meeting, Jun 27, 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. 7 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). Independent Board Director/Trustee Susumu Ushigome was the last independent director to join the board, commencing their role in 2006. 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
Tohoku Steel Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Tohoku Steel Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥45.03 (up from JP¥39.71 in 3Q 2021). Revenue: JP¥5.05b (up 23% from 3Q 2021). Net income: JP¥339.0m (up 13% from 3Q 2021). Profit margin: 6.7% (down from 7.3% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥53.79 (vs JP¥30.15 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥4.84b (up 35% from 2Q 2021). Net income: JP¥405.0m (up 78% from 2Q 2021). Profit margin: 8.4% (up from 6.3% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 16 November 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥58.18 (vs JP¥21.52 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥4.91b (up 36% from 1Q 2021). Net income: JP¥438.0m (up 170% from 1Q 2021). Profit margin: 8.9% (up from 4.5% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 21
Tohoku Steel Co Deleted from Other OTC Tohoku Steel Co Ltd. Ordinary Shares deleted from Other OTC effective May 19, 2021. The deletion is due to Inactive Security. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥56.72 (vs JP¥194 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥16.2b (down 17% from FY 2020). Net income: JP¥427.0m (down 71% from FY 2020). Profit margin: 2.6% (down from 7.5% in FY 2020). 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 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 30 June 2021. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.5%). Is New 90 Day High Low • Mar 09
New 90-day high: JP¥1,579 The company is up 7.0% from its price of JP¥1,471 on 09 December 2020. The Japanese market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Metals and Mining industry, which is up 18% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥39.71 (vs JP¥53.39 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥4.10b (down 14% from 3Q 2020). Net income: JP¥299.0m (down 26% from 3Q 2020). Profit margin: 7.3% (down from 8.5% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Jan 27
New 90-day high: JP¥1,510 The company is up 7.0% from its price of JP¥1,410 on 29 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: JP¥1,480 The company is up 3.0% from its price of JP¥1,430 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: JP¥1,452 The company is up 1.0% from its price of JP¥1,434 on 26 August 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. Reported Earnings • Nov 17
Second quarter 2021 earnings released: EPS JP¥30.15 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥3.60b (down 30% from 2Q 2020). Net income: JP¥227.0m (down 43% from 2Q 2020). Profit margin: 6.3% (down from 7.8% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of JP¥1.10b, down 27% from the prior year. Total revenue was JP¥16.4b over the last 12 months, down 20% from the prior year. Upcoming Dividend • Sep 22
Upcoming Dividend of JP¥4.00 Per Share Will be paid on the 18th of November to those who are registered shareholders by the 29th of September. The trailing yield of 1.2% is below the top quartile of Japanese dividend payers (3.1%), and is lower than industry peers (2.1%). 
