Reported Earnings • May 19
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥110 (down from JP¥114 in FY 2025). Revenue: JP¥128.1b (up 1.2% from FY 2025). Net income: JP¥6.70b (down 3.0% from FY 2025). Profit margin: 5.2% (down from 5.5% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Metals and Mining industry in Japan. 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 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 14
Kurimoto,Ltd., Annual General Meeting, Jun 25, 2026 Kurimoto,Ltd., Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥28.80 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 54% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥41.90 (vs JP¥43.87 in 3Q 2025) Third quarter 2026 results: EPS: JP¥41.90 (down from JP¥43.87 in 3Q 2025). Revenue: JP¥34.9b (flat on 3Q 2025). Net income: JP¥2.54b (down 4.4% from 3Q 2025). Profit margin: 7.3% (down from 7.6% in 3Q 2025). Revenue is forecast to grow 2.9% 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 14% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 02
First half dividend of JP¥28.80 announced Shareholders will receive a dividend of JP¥28.80. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 10%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (168% cash payout ratio). The dividend has increased by an average of 22% 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 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥31.0b (flat on 2Q 2025). Net income: JP¥1.46b (down 5.5% from 2Q 2025). Profit margin: 4.7% (down from 4.9% in 2Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.9% 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 but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥144 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.2%). New Risk • Aug 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.4% average weekly change). Declared Dividend • Jul 09
Final dividend of JP¥144 announced Shareholders will receive a dividend of JP¥144. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 5.0%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% 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. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 14
Kurimoto,Ltd., Annual General Meeting, Jun 26, 2025 Kurimoto,Ltd., Annual General Meeting, Jun 26, 2025. Buy Or Sell Opportunity • May 14
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to JP¥5,300. The fair value is estimated to be JP¥4,179, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 21%. Buy Or Sell Opportunity • Apr 17
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to JP¥4,475. The fair value is estimated to be JP¥3,723, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 21%. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥125 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (4.1%). Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥219 (vs JP¥175 in 3Q 2024) Third quarter 2025 results: EPS: JP¥219 (up from JP¥175 in 3Q 2024). Revenue: JP¥35.2b (flat on 3Q 2024). Net income: JP¥2.66b (up 26% from 3Q 2024). Profit margin: 7.6% (up from 6.0% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥4,510. The fair value is estimated to be JP¥3,719, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 28%. New Risk • Nov 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥127 (vs JP¥163 in 2Q 2024) Second quarter 2025 results: EPS: JP¥127 (down from JP¥163 in 2Q 2024). Revenue: JP¥31.2b (down 3.2% from 2Q 2024). Net income: JP¥1.54b (down 21% from 2Q 2024). Profit margin: 4.9% (down from 6.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥104 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (4.3%). Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥79.27 (vs JP¥75.59 in 1Q 2024) First quarter 2025 results: EPS: JP¥79.27 (up from JP¥75.59 in 1Q 2024). Revenue: JP¥27.7b (flat on 1Q 2024). Net income: JP¥961.0m (up 4.1% from 1Q 2024). Profit margin: 3.5% (up from 3.3% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 35% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥3,625, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 9x in the Metals and Mining industry in Japan. Total returns to shareholders of 155% over the past three years. New Risk • Jul 08
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 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥452 (vs JP¥387 in FY 2023) Full year 2024 results: EPS: JP¥452 (up from JP¥387 in FY 2023). Revenue: JP¥125.9b (flat on FY 2023). Net income: JP¥5.47b (up 16% from FY 2023). Profit margin: 4.3% (up from 3.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 38% per year. Announcement • May 16
Kurimoto,Ltd., Annual General Meeting, Jun 26, 2024 Kurimoto,Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,865, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 9x in the Metals and Mining industry in Japan. Total returns to shareholders of 148% over the past three years. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥175 (vs JP¥180 in 3Q 2023) Third quarter 2024 results: EPS: JP¥175 (down from JP¥180 in 3Q 2023). Revenue: JP¥35.3b (down 5.6% from 3Q 2023). Net income: JP¥2.11b (down 4.1% from 3Q 2023). Profit margin: 6.0% (up from 5.9% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥163 (vs JP¥88.24 in 2Q 2023) Second quarter 2024 results: EPS: JP¥163 (up from JP¥88.24 in 2Q 2023). Revenue: JP¥32.2b (up 11% from 2Q 2023). Net income: JP¥1.96b (up 82% from 2Q 2023). Profit margin: 6.1% (up from 3.7% 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 25% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥45.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 07
First quarter 2024 earnings released: EPS: JP¥75.59 (vs JP¥45.56 in 1Q 2023) First quarter 2024 results: EPS: JP¥75.59 (up from JP¥45.56 in 1Q 2023). Revenue: JP¥27.7b (up 11% from 1Q 2023). Net income: JP¥923.0m (up 66% from 1Q 2023). Profit margin: 3.3% (up from 2.2% 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 17% per year whereas the company’s share price has increased by 16% per year. Announcement • Aug 05
Kurimoto,Ltd. (TSE:5602) announces an Equity Buyback for 300,000 shares, representing 2.45% for ¥700 million. Kurimoto,Ltd. (TSE:5602) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 2.45% of its share capital, for ¥700 million. The company will repurchase its shares in order to implement a flexible capital policy in response to changes in the business environment, and enhance shareholder returns. The program will run until December 22, 2023. As of July 31, 2023, the company had 12,251,708 shares outstanding (excluding treasury shares) and 846,782 shares in treasury. Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥387 (vs JP¥239 in FY 2022) Full year 2023 results: EPS: JP¥387 (up from JP¥239 in FY 2022). Revenue: JP¥124.8b (up 18% from FY 2022). Net income: JP¥4.73b (up 62% from FY 2022). Profit margin: 3.8% (up from 2.8% 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 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Kurimoto, Ltd., Annual General Meeting, Jun 28, 2023 Kurimoto, Ltd., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 3.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (4.6%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥180 (vs JP¥116 in 3Q 2022) Third quarter 2023 results: EPS: JP¥180 (up from JP¥116 in 3Q 2022). Revenue: JP¥37.4b (up 21% from 3Q 2022). Net income: JP¥2.19b (up 55% from 3Q 2022). Profit margin: 5.9% (up from 4.6% 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 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Kiyoshi Sawai was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 06
Second quarter 2023 earnings released: EPS: JP¥88.24 (vs JP¥15.00 in 2Q 2022) Second quarter 2023 results: EPS: JP¥88.24 (up from JP¥15.00 in 2Q 2022). Revenue: JP¥29.0b (up 21% from 2Q 2022). Net income: JP¥1.08b (up 489% from 2Q 2022). Profit margin: 3.7% (up from 0.8% 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 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (5.4%). Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥45.56 (vs JP¥0.82 in 1Q 2022) First quarter 2023 results: EPS: JP¥45.56 (up from JP¥0.82 in 1Q 2022). Revenue: JP¥25.0b (up 15% from 1Q 2022). Net income: JP¥556.0m (up JP¥546.0m from 1Q 2022). Profit margin: 2.2% (up from 0% in 1Q 2022). 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 7% per year. Reported Earnings • May 17
Full year 2022 earnings released: EPS: JP¥239 (vs JP¥260 in FY 2021) Full year 2022 results: EPS: JP¥239 (down from JP¥260 in FY 2021). Revenue: JP¥106.0b (down 9.1% from FY 2021). Net income: JP¥2.92b (down 8.1% from FY 2021). Profit margin: 2.8% (up from 2.7% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Announcement • May 15
Kurimoto, Ltd., Annual General Meeting, Jun 28, 2022 Kurimoto, Ltd., Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Outside Director Tomohiko Sato was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Kurimoto, Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Kurimoto, Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 41% and the cash payout ratio is 80%. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (4.7%). Reported Earnings • Feb 08
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥116 (up from JP¥91.96 in 3Q 2021). Revenue: JP¥30.9b (down 3.8% from 3Q 2021). Net income: JP¥1.41b (up 26% from 3Q 2021). Profit margin: 4.6% (up from 3.5% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 05
Second quarter 2022 earnings released: EPS JP¥15.00 (vs JP¥68.43 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥24.0b (down 17% from 2Q 2021). Net income: JP¥183.0m (down 78% from 2Q 2021). Profit margin: 0.8% (down from 2.9% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 07 December 2021. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.8%). Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥260 (vs JP¥223 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥116.6b (up 6.1% from FY 2020). Net income: JP¥3.17b (up 14% from FY 2020). Profit margin: 2.7% (up from 2.5% 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 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 3.2%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.5%). Is New 90 Day High Low • Feb 19
New 90-day high: JP¥1,794 The company is up 5.0% from its price of JP¥1,704 on 20 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 29% over the same period. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥91.96 (vs JP¥130 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥32.1b (up 5.2% from 3Q 2020). Net income: JP¥1.12b (down 31% from 3Q 2020). Profit margin: 3.5% (down from 5.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 23
New 90-day low: JP¥1,620 The company is down 18% from its price of JP¥1,986 on 24 September 2020. The Japanese market is up 7.0% 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 • Dec 04
New 90-day low: JP¥1,693 The company is down 7.0% from its price of JP¥1,822 on 04 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 11% over the same period.