Buy Or Sell Opportunity • Jun 08
Now 22% undervalued Over the last 90 days, the stock has risen 17% to JP¥8,790. The fair value is estimated to be JP¥11,294, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has declined by 8.2%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • May 18
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: JP¥388 (up from JP¥356 in FY 2025). Revenue: JP¥59.5b (up 2.6% from FY 2025). Net income: JP¥8.94b (up 7.7% from FY 2025). Profit margin: 15% (in line with FY 2025). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Live News • May 15
Pillar Corporation Lifts Dividend Outlook and Forecasts Strong Profit for FY2027 Pillar Corporation reported net sales growth of 2.6% and a 7.7% increase in profit attributable to owners for the fiscal year ended March 31, 2026, while keeping its equity ratio above 75%.
The company raised its annual dividend for FY2026, guided to further dividend growth in FY2027, and forecast net sales growth of about 17.7% with profit expected to rise nearly 20%.
Under its One2030 plan, Pillar will lift its dividend payout ratio target to a fixed 40% from FY2027 and allow its takeover defense plan to expire at the June 2026 shareholders meeting.
The combination of earnings growth, a stronger dividend policy, and a high equity ratio points to a management team placing clear emphasis on shareholder returns while keeping the balance sheet conservative.
Allowing the takeover defense plan to expire could increase the company’s exposure to M&A interest, which some investors may welcome, but it also introduces an additional governance and control risk to weigh alongside the more generous dividend framework. Announcement • May 15
PILLAR Corporation, Annual General Meeting, Jun 23, 2026 PILLAR Corporation, Annual General Meeting, Jun 23, 2026. Announcement • May 04
PILLAR Corporation to Report Fiscal Year 2026 Results on May 14, 2026 PILLAR Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 14, 2026 Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥9,230, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 177% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥12,889 per share. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 32% 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 (2.3%). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥7,310, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 130% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥12,642 per share. Major Estimate Revision • Feb 17
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥332 to JP¥372. Revenue forecast steady at JP¥58.2b. Net income forecast to grow 11% next year vs 7.8% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥6,225 to JP¥8,215. Share price rose 4.6% to JP¥7,990 over the past week. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥109 (vs JP¥95.96 in 3Q 2025) Third quarter 2026 results: EPS: JP¥109 (up from JP¥95.96 in 3Q 2025). Revenue: JP¥14.7b (up 8.1% from 3Q 2025). Net income: JP¥2.49b (up 11% from 3Q 2025). Profit margin: 17% (in line with 3Q 2025). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥7,690, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥11,438 per share. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥6,100, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥11,160 per share. Announcement • Dec 27
PILLAR Corporation to Report Q3, 2026 Results on Feb 09, 2026 PILLAR Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Declared Dividend • Dec 06
First half dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 2.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: JP¥89.76 (vs JP¥82.52 in 2Q 2025) Second quarter 2026 results: EPS: JP¥89.76 (up from JP¥82.52 in 2Q 2025). Revenue: JP¥14.7b (down 5.0% from 2Q 2025). Net income: JP¥2.07b (up 7.6% from 2Q 2025). Profit margin: 14% (up from 13% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥5,200, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥4,900, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 127% over the past three years. Announcement • Sep 27
PILLAR Corporation to Report Q2, 2026 Results on Nov 13, 2025 PILLAR Corporation announced that they will report Q2, 2026 results on Nov 13, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.6%). Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥84.94 (vs JP¥84.18 in 1Q 2025) First quarter 2026 results: EPS: JP¥84.94 (up from JP¥84.18 in 1Q 2025). Revenue: JP¥13.5b (up 3.1% from 1Q 2025). Net income: JP¥1.98b (flat on 1Q 2025). Profit margin: 15% (in line with 1Q 2025). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals 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 16% per year, which means it is well ahead of earnings. Board Change • Jul 26
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. 5 non-independent directors. Independent Outside Director Haruhiko Maki was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 29th September 2025 Payment date: 8th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
PILLAR Corporation to Report Q1, 2026 Results on Aug 06, 2025 PILLAR Corporation announced that they will report Q1, 2026 results on Aug 06, 2025 Reported Earnings • Jun 24
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: JP¥356 (down from JP¥463 in FY 2024). Revenue: JP¥58.0b (down 1.1% from FY 2024). Net income: JP¥8.30b (down 23% from FY 2024). Profit margin: 14% (down from 18% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Chemicals industry in Japan. 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 9% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 28
Price target decreased by 21% to JP¥5,505 Down from JP¥6,935, the current price target is an average from 2 analysts. New target price is 47% above last closing price of JP¥3,755. Stock is down 26% over the past year. The company is forecast to post earnings per share of JP¥339 for next year compared to JP¥356 last year. Announcement • May 16
PILLAR Corporation (TSE:6490) announces an Equity Buyback for 1,000,000 shares, representing 4.29% for ¥2,000 million. PILLAR Corporation (TSE:6490) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 4.29% of its issued share capital, for ¥2,000 million. The company will repurchase its own shares as part of its efforts to implement a flexible capital policy in response to changes in the business environment and to return profits to shareholders. The program will expire on November 30, 2025. As of April 30, 2025, the company had 23,332,152 shares in issue (excluding treasury shares) and 1,710,254 shares in treasury. Announcement • May 14
PILLAR Corporation, Annual General Meeting, Jun 20, 2025 PILLAR Corporation, Annual General Meeting, Jun 20, 2025. Announcement • Mar 28
PILLAR Corporation to Report Fiscal Year 2025 Results on May 14, 2025 PILLAR Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥71.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Major Estimate Revision • Feb 13
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥61.3b to JP¥57.0b. EPS estimate also fell from JP¥402 per share to JP¥343 per share. Net income forecast to grow 5.5% next year vs 9.0% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥6,735 unchanged from last update. Share price fell 8.0% to JP¥3,760 over the past week. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥95.96 (vs JP¥109 in 3Q 2024) Third quarter 2025 results: EPS: JP¥95.96 (down from JP¥109 in 3Q 2024). Revenue: JP¥13.6b (down 7.4% from 3Q 2024). Net income: JP¥2.24b (down 12% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Announcement • Jan 03
PILLAR Corporation to Report Q3, 2025 Results on Feb 06, 2025 PILLAR Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: JP¥82.52 (vs JP¥112 in 2Q 2024) Second quarter 2025 results: EPS: JP¥82.52 (down from JP¥112 in 2Q 2024). Revenue: JP¥15.4b (flat on 2Q 2024). Net income: JP¥1.93b (down 27% from 2Q 2024). Profit margin: 13% (down from 17% in 2Q 2024). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. New Risk • Nov 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 5.8% 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 (5.8% average weekly change). Announcement • Sep 26
PILLAR Corporation to Report Q2, 2025 Results on Nov 11, 2024 PILLAR Corporation announced that they will report Q2, 2025 results on Nov 11, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥84.18 (vs JP¥109 in 1Q 2024) First quarter 2025 results: EPS: JP¥84.18 (down from JP¥109 in 1Q 2024). Revenue: JP¥13.1b (up 2.9% from 1Q 2024). Net income: JP¥1.96b (down 23% from 1Q 2024). Profit margin: 15% (down from 20% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥4,010, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 97% over the past three years. Announcement • Jun 28
Nippon Pillar Packing Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Nippon Pillar Packing Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥5,610, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 206% over the past three years. Reported Earnings • May 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥463 (up from JP¥443 in FY 2023). Revenue: JP¥58.6b (up 20% from FY 2023). Net income: JP¥10.8b (up 3.4% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Chemicals industry in Japan. 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 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 25, 2024 Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 25, 2024. Announcement • Mar 28
Nippon Pillar Packing Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Nippon Pillar Packing Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥89.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 31% and the cash payout ratio is 84%. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: JP¥109 (vs JP¥98.92 in 3Q 2023) Third quarter 2024 results: EPS: JP¥109 (up from JP¥98.92 in 3Q 2023). Revenue: JP¥14.7b (up 15% from 3Q 2023). Net income: JP¥2.54b (up 8.8% from 3Q 2023). Profit margin: 17% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥5,540, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 241% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,928 per share. Announcement • Dec 27
Nippon Pillar Packing Co., Ltd. to Report Q3, 2024 Results on Feb 13, 2024 Nippon Pillar Packing Co., Ltd. announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 18
Second quarter 2024 earnings released: EPS: JP¥112 (vs JP¥129 in 2Q 2023) Second quarter 2024 results: EPS: JP¥112 (down from JP¥129 in 2Q 2023). Revenue: JP¥15.3b (up 28% from 2Q 2023). Net income: JP¥2.62b (down 14% from 2Q 2023). Profit margin: 17% (down from 26% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 45% per year. Announcement • Sep 28
Nippon Pillar Packing Co., Ltd. to Report Q2, 2024 Results on Nov 14, 2023 Nippon Pillar Packing Co., Ltd. announced that they will report Q2, 2024 results on Nov 14, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥54.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 29% and the cash payout ratio is 76%. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%). Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥109 (vs JP¥99.35 in 1Q 2023) First quarter 2024 results: EPS: JP¥109 (up from JP¥99.35 in 1Q 2023). Revenue: JP¥12.7b (up 19% from 1Q 2023). Net income: JP¥2.55b (up 8.5% from 1Q 2023). Profit margin: 20% (down from 22% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Nippon Pillar Packing Co., Ltd. to Report Q1, 2024 Results on Aug 07, 2023 Nippon Pillar Packing Co., Ltd. announced that they will report Q1, 2024 results on Aug 07, 2023 Reported Earnings • Jun 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥443 (up from JP¥350 in FY 2022). Revenue: JP¥48.7b (up 20% from FY 2022). Net income: JP¥10.4b (up 26% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year whereas the company’s share price has increased by 51% per year. New Risk • Jun 14
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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. Announcement • May 17
Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 22, 2023 Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 22, 2023. Reported Earnings • May 16
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥443 (up from JP¥350 in FY 2022). Revenue: JP¥48.7b (up 20% from FY 2022). Net income: JP¥10.4b (up 26% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥65.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Price Target Changed • Mar 21
Price target increased by 32% to JP¥4,500 Up from JP¥3,400, the current price target is provided by 1 analyst. New target price is 28% above last closing price of JP¥3,515. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥406 for next year compared to JP¥350 last year. Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: JP¥98.91 (vs JP¥94.62 in 3Q 2022) Third quarter 2023 results: EPS: JP¥98.91 (up from JP¥94.62 in 3Q 2022). Revenue: JP¥12.8b (up 23% from 3Q 2022). Net income: JP¥2.33b (up 4.1% from 3Q 2022). Profit margin: 18% (down from 21% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Dec 28
Nippon Pillar Packing Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Nippon Pillar Packing Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥129 (vs JP¥87.18 in 2Q 2022) Second quarter 2023 results: EPS: JP¥129 (up from JP¥87.18 in 2Q 2022). Revenue: JP¥12.0b (up 19% from 2Q 2022). Net income: JP¥3.06b (up 49% from 2Q 2022). Profit margin: 26% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 25% 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. 5 non-independent directors. Independent Outside Director Kyoko Kobayashi 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. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥129 (vs JP¥87.18 in 2Q 2022) Second quarter 2023 results: EPS: JP¥129 (up from JP¥87.18 in 2Q 2022). Revenue: JP¥12.0b (up 19% from 2Q 2022). Net income: JP¥3.06b (up 49% from 2Q 2022). Profit margin: 26% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
Nippon Pillar Packing Co., Ltd. (TSE:6490) announces an Equity Buyback for 500,000 shares, representing 2.11% for ¥1,000 million. Nippon Pillar Packing Co., Ltd. (TSE:6490) announces a share repurchase program. Under the program, the company will repurchase 500,000 shares, representing 2.11% of the outstanding shares for ¥1,000 million. The program is aimed at the implementation of a flexible capital policy that responds to changes in the business environment and returns to shareholders. The program will run until March 31, 2023. As of October 31, 2022, the company had 23,653,013 shares outstanding and 1,389,393 shares in treasury. Announcement • Sep 28
Nippon Pillar Packing Co., Ltd. to Report Q2, 2023 Results on Nov 10, 2022 Nippon Pillar Packing Co., Ltd. announced that they will report Q2, 2023 results on Nov 10, 2022 Price Target Changed • Sep 28
Price target decreased to JP¥3,400 Down from JP¥4,200, the current price target is an average from 2 analysts. New target price is 45% above last closing price of JP¥2,342. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥366 for next year compared to JP¥350 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 10 December 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥99.35 (vs JP¥71.77 in 1Q 2022) First quarter 2023 results: EPS: JP¥99.35 (up from JP¥71.77 in 1Q 2022). Revenue: JP¥10.7b (up 17% from 1Q 2022). Net income: JP¥2.35b (up 39% from 1Q 2022). Profit margin: 22% (up from 19% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.2%, compared to a 9.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Nippon Pillar Packing Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Nippon Pillar Packing Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 16
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥350 (up from JP¥145 in FY 2021). Revenue: JP¥40.7b (up 35% from FY 2021). Net income: JP¥8.29b (up 141% from FY 2021). Profit margin: 20% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 4.5%, compared to a 7.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 35% per year. Announcement • May 14
Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 23, 2022 Nippon Pillar Packing Co., Ltd., Annual General Meeting, Jun 23, 2022.