Reported Earnings • May 09
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥106 (up from JP¥87.80 in FY 2025). Revenue: JP¥158.5b (up 5.2% from FY 2025). Net income: JP¥7.71b (up 18% from FY 2025). Profit margin: 4.9% (up from 4.3% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Price Target Changed • Apr 24
Price target increased by 13% to JP¥1,800 Up from JP¥1,600, the current price target is provided by 1 analyst. New target price is 30% above last closing price of JP¥1,385. Stock is up 38% over the past year. The company is forecast to post earnings per share of JP¥104 for next year compared to JP¥87.80 last year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.3%). Major Estimate Revision • Mar 20
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥91.29 to JP¥104. Revenue forecast steady at JP¥156.8b. Net income forecast to shrink 6.6% next year vs 8.4% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥1,600 unchanged from last update. Share price fell 2.3% to JP¥1,309 over the past week. New Risk • Mar 02
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. 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 (5.6% average weekly change). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥36.25 (vs JP¥22.53 in 3Q 2025) Third quarter 2026 results: EPS: JP¥36.25 (up from JP¥22.53 in 3Q 2025). Revenue: JP¥41.4b (up 9.0% from 3Q 2025). Net income: JP¥2.62b (up 56% from 3Q 2025). Profit margin: 6.3% (up from 4.4% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% 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 increased by 17% per year whereas the company’s share price has increased by 20% per year. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,352, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥702 per share. Major Estimate Revision • Dec 19
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥104 to JP¥89.70 per share. Revenue forecast steady at JP¥156.5b. Net income forecast to shrink 0.7% next year vs 8.3% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥1,500 unchanged from last update. Share price was steady at JP¥1,156 over the past week. Declared Dividend • Nov 26
First half dividend of JP¥18.00 announced Shareholders will receive a dividend of JP¥18.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 7.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (10% 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 9.9% 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 33% over the next 3 years. However, it would need to fall by 89% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 08
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥39.0b (up 5.5% from 2Q 2025). Net income: JP¥1.44b (up 21% from 2Q 2025). Profit margin: 3.7% (up from 3.2% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Japan. Announcement • Nov 06
ZACROS Corporation (TSE:7917) announces an Equity Buyback for 1,820,000 shares, representing 2.51% for ¥2,000 million. ZACROS Corporation (TSE:7917) announces a share repurchase program. Under the program, the company will repurchase up to 1,820,000 shares, representing 2.51% of the outstanding shares (excluding the treasury shares) for ¥2,000 million. The purpose of the program is to execute a flexible capital policy in response to changes in the business environment. The repurchase program is valid till June 30, 2026. As of September 30, 2025, the company had 72,489,828 issued shares (excluding treasury stock) and 4,581,212 shares in treasury. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥67.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥133 (vs JP¥97.39 in 1Q 2025) First quarter 2026 results: EPS: JP¥133 (up from JP¥97.39 in 1Q 2025). Revenue: JP¥39.3b (up 4.2% from 1Q 2025). Net income: JP¥2.45b (up 35% from 1Q 2025). Profit margin: 6.2% (up from 4.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% 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 2% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥67.00 announced Shareholders will receive a dividend of JP¥67.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (26% 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 9.1% 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 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 21
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥351 (up from JP¥241 in FY 2024). Revenue: JP¥150.7b (up 11% from FY 2024). Net income: JP¥6.53b (up 44% from FY 2024). Profit margin: 4.3% (up from 3.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 4.5% 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 fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Jun 14
Price target decreased by 15% to JP¥4,700 Down from JP¥5,500, the current price target is provided by 1 analyst. New target price is 27% above last closing price of JP¥3,695. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥405 for next year compared to JP¥351 last year. Board Change • Jun 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Kumi Izawa was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 08
ZACROS Corporation, Annual General Meeting, Jun 20, 2025 ZACROS Corporation, Annual General Meeting, Jun 20, 2025. Price Target Changed • Mar 11
Price target decreased by 8.3% to JP¥5,500 Down from JP¥6,000, the current price target is provided by 1 analyst. New target price is 31% above last closing price of JP¥4,205. Stock is up 9.5% over the past year. The company is forecast to post earnings per share of JP¥344 for next year compared to JP¥241 last year. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: JP¥90.12 (vs JP¥16.11 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥90.12 (up from JP¥16.11 loss in 3Q 2024). Revenue: JP¥37.9b (up 5.8% from 3Q 2024). Net income: JP¥1.68b (up JP¥1.98b from 3Q 2024). Profit margin: 4.4% (up from net loss in 3Q 2024). Revenue is forecast to grow 5.0% 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 fallen by 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Feb 08
ZACROS Corporation (TSE:7917) announces an Equity Buyback for 500,000 shares, representing 2.69% for ¥2,000 million. ZACROS Corporation (TSE:7917) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 2.69% of the outstanding shares (excluding the treasury shares) for ¥2,000 million. The purpose of the program is to implement a flexible capital policy aligned with changes in its business environment. The repurchase program is valid till September 30, 2025. As of December 31, 2024, the company had 18,607,448 issued shares (excluding treasury stock) and 660,312 shares in treasury. Declared Dividend • Dec 03
First half dividend of JP¥63.00 announced Shareholders will receive a dividend of JP¥63.00. Ex-date: 28th March 2025 Payment date: 23rd June 2025 Dividend yield will be 3.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (17% 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 8.7% 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 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 19
Second quarter 2025 earnings released: EPS: JP¥64.42 (vs JP¥79.70 in 2Q 2024) Second quarter 2025 results: EPS: JP¥64.42 (down from JP¥79.70 in 2Q 2024). Revenue: JP¥37.0b (up 8.7% from 2Q 2024). Net income: JP¥1.20b (down 20% from 2Q 2024). Profit margin: 3.2% (down from 4.4% in 2Q 2024). Revenue is forecast to grow 5.3% 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 fallen by 24% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 01
Now 20% undervalued Over the last 90 days, the stock has risen 2.3% to JP¥4,245. The fair value is estimated to be JP¥5,311, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Price Target Changed • Oct 03
Price target increased by 7.1% to JP¥6,000 Up from JP¥5,600, the current price target is provided by 1 analyst. New target price is 35% above last closing price of JP¥4,435. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥382 for next year compared to JP¥241 last year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥63.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (2.4%). Buy Or Sell Opportunity • Sep 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to JP¥4,265. The fair value is estimated to be JP¥5,344, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. New Risk • Aug 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Aug 17
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥335 to JP¥382. Revenue forecast unchanged at JP¥148.0b. Net income forecast to grow 57% next year vs 10.0% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥5,600 unchanged from last update. Share price rose 3.5% to JP¥4,190 over the past week. Declared Dividend • Jul 25
Final dividend of JP¥63.00 announced Shareholders will receive a dividend of JP¥63.00. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 2.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 8.7% 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 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥241 (down from JP¥256 in FY 2023). Revenue: JP¥136.2b (up 5.2% from FY 2023). Net income: JP¥4.53b (down 6.6% from FY 2023). Profit margin: 3.3% (down from 3.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 6.2% 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 fallen by 23% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • May 11
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥241 (down from JP¥256 in FY 2023). Revenue: JP¥136.2b (up 5.2% from FY 2023). Net income: JP¥4.53b (down 6.6% from FY 2023). Profit margin: 3.3% (down from 3.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 4.6% 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 fallen by 23% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 11
Fujimori Kogyo Co., Ltd., Annual General Meeting, Jun 20, 2024 Fujimori Kogyo Co., Ltd., Annual General Meeting, Jun 20, 2024. Price Target Changed • May 09
Price target increased by 8.2% to JP¥5,300 Up from JP¥4,900, the current price target is provided by 1 analyst. New target price is 15% above last closing price of JP¥4,605. Stock is up 44% over the past year. The company is forecast to post earnings per share of JP¥257 for next year compared to JP¥256 last year. Buy Or Sell Opportunity • May 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to JP¥4,605. The fair value is estimated to be JP¥3,811, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 109% in the next 2 years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.1%). Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥135.0b to JP¥133.5b. EPS estimate also fell from JP¥280 per share to JP¥214 per share. Net income forecast to grow 67% next year vs 21% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥4,900 unchanged from last update. Share price rose 2.9% to JP¥3,960 over the past week. Reported Earnings • Feb 09
Third quarter 2024 earnings released: JP¥16.11 loss per share (vs JP¥42.42 profit in 3Q 2023) Third quarter 2024 results: JP¥16.11 loss per share (down from JP¥42.42 profit in 3Q 2023). Revenue: JP¥35.8b (up 9.0% from 3Q 2023). Net loss: JP¥303.0m (down 138% from profit in 3Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 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 fallen by 18% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 09
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥79.69 (up from JP¥59.39 in 2Q 2023). Revenue: JP¥34.0b (up 3.4% from 2Q 2023). Net income: JP¥1.50b (up 33% from 2Q 2023). Profit margin: 4.4% (up from 3.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Revenue is forecast to grow 6.2% 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 10% per year whereas the company’s share price has fallen by 6% per year. Announcement • Nov 09
Fujimori Kogyo Co., Ltd. (TSE:7917) announces an Equity Buyback for 250,000 shares, representing 1.33% for ¥1,000 million. Fujimori Kogyo Co., Ltd. (TSE:7917) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 1.33% of the outstanding shares (excluding the treasury shares) for ¥1,000 million. The purpose of the program is to carry out flexible capital policy in response to changes in the business environment. The repurchase program is valid till March 31, 2024. As of September 30, 2023, the company had 18,841,067 issued shares (excluding treasury stock) and 426,693 shares in treasury. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥42.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.5%). Major Estimate Revision • Sep 02
Consensus EPS estimates increase by 43% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥228 to JP¥326. Revenue forecast steady at JP¥137.0b. Net income forecast to grow 23% next year vs 7.9% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥4,500 to JP¥5,000. Share price rose 5.3% to JP¥3,745 over the past week. Reported Earnings • Aug 09
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥104 (down from JP¥131 in 1Q 2023). Revenue: JP¥31.9b (down 4.4% from 1Q 2023). Net income: JP¥1.95b (down 22% from 1Q 2023). Profit margin: 6.1% (down from 7.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 187%. Revenue is forecast to grow 6.7% 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 fallen by 5% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • Jun 22
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥256 (down from JP¥404 in FY 2022). Revenue: JP¥129.4b (up 1.2% from FY 2022). Net income: JP¥4.85b (down 37% from FY 2022). Profit margin: 3.8% (down from 6.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • May 13
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥256 (down from JP¥404 in FY 2022). Revenue: JP¥129.4b (up 1.2% from FY 2022). Net income: JP¥4.85b (down 37% from FY 2022). Profit margin: 3.8% (down from 6.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • May 13
Fujimori Kogyo Co., Ltd., Annual General Meeting, Jun 20, 2023 Fujimori Kogyo Co., Ltd., Annual General Meeting, Jun 20, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥42.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.8%). Major Estimate Revision • Mar 01
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from JP¥276 to JP¥213 per share. Revenue forecast steady at JP¥129.0b. Net income forecast to shrink 17% next year vs 1.6% growth forecast for Chemicals industry in Japan . Consensus price target of JP¥4,000 unchanged from last update. Share price rose 2.4% to JP¥3,160 over the past week. Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥42.41 (down from JP¥92.56 in 3Q 2022). Revenue: JP¥32.9b (flat on 3Q 2022). Net income: JP¥806.0m (down 54% from 3Q 2022). Profit margin: 2.5% (down from 5.3% in 3Q 2022). Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 4.0% 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 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to JP¥4,000 Down from JP¥5,500, the current price target is provided by 1 analyst. New target price is 25% above last closing price of JP¥3,200. Stock is down 22% over the past year. The company is forecast to post earnings per share of JP¥268 for next year compared to JP¥404 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Outside Director Manabu Sakai was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥59.38 (down from JP¥95.10 in 2Q 2022). Revenue: JP¥32.9b (up 7.5% from 2Q 2022). Net income: JP¥1.13b (down 38% from 2Q 2022). Profit margin: 3.4% (down from 5.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.6%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 21
Price target decreased to JP¥4,000 Down from JP¥5,500, the current price target is provided by 1 analyst. New target price is 29% above last closing price of JP¥3,100. Stock is down 33% over the past year. The company is forecast to post earnings per share of JP¥268 for next year compared to JP¥404 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 29 November 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥131 (vs JP¥126 in 1Q 2022) First quarter 2023 results: EPS: JP¥131 (up from JP¥126 in 1Q 2022). Revenue: JP¥33.3b (up 6.8% from 1Q 2022). Net income: JP¥2.50b (up 4.0% from 1Q 2022). Profit margin: 7.5% (down from 7.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.3%, compared to a 9.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Jun 22
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥404 (up from JP¥382 in FY 2021). Revenue: JP¥127.8b (up 9.0% from FY 2021). Net income: JP¥7.69b (up 5.7% from FY 2021). Profit margin: 6.0% (down from 6.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Over the next year, revenue is forecast to grow 4.1%, compared to a 11% growth forecast for the 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Fujimori Kogyo Co., Ltd. to Report Q3, 2023 Results on Feb 08, 2023 Fujimori Kogyo Co., Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • May 13
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥404 (up from JP¥382 in FY 2021). Revenue: JP¥127.8b (up 9.0% from FY 2021). Net income: JP¥7.69b (up 5.7% from FY 2021). Profit margin: 6.0% (down from 6.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Over the next year, revenue is forecast to grow 1.3%, compared to a 7.6% growth forecast for the 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Outside Director Manabu Sakai was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 10
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥92.56 (up from JP¥85.54 in 3Q 2021). Revenue: JP¥33.1b (up 16% from 3Q 2021). Net income: JP¥1.77b (up 8.5% from 3Q 2021). Profit margin: 5.3% (down from 5.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to stay flat compared to a 6.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Major Estimate Revision • Dec 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from JP¥407 to JP¥362 per share. Revenue forecast steady at JP¥122.3b. Net income forecast to shrink 2.2% next year vs 1.8% growth forecast for Chemicals industry in Japan . Consensus price target down from JP¥6,100 to JP¥5,300. Share price fell 6.0% to JP¥3,575 over the past week. Price Target Changed • Dec 01
Price target decreased to JP¥5,300 Down from JP¥5,800, the current price target is an average from 2 analysts. New target price is 45% above last closing price of JP¥3,665. Stock is down 24% over the past year. The company is forecast to post earnings per share of JP¥362 for next year compared to JP¥382 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.9%). Price Target Changed • Aug 17
Price target increased to JP¥6,100 Up from JP¥5,600, the current price target is an average from 2 analysts. New target price is 48% above last closing price of JP¥4,125. Stock is up 8.1% over the past year. Reported Earnings • Jun 24
Full year 2021 earnings released: EPS JP¥382 (vs JP¥280 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥117.3b (up 2.6% from FY 2020). Net income: JP¥7.28b (up 37% from FY 2020). Profit margin: 6.2% (up from 4.7% in FY 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Major Estimate Revision • Jun 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥340 to JP¥378. Revenue forecast steady at JP¥121.0b. Net income forecast to shrink 1.1% next year vs 16% growth forecast for Chemicals industry in Japan . Consensus price target up from JP¥5,600 to JP¥5,800. Share price was steady at JP¥4,170 over the past week. Reported Earnings • May 16
Full year 2021 earnings released: EPS JP¥382 (vs JP¥280 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥117.3b (up 2.6% from FY 2020). Net income: JP¥7.28b (up 37% from FY 2020). Profit margin: 6.2% (up from 4.7% in FY 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥85.54 (vs JP¥81.18 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥28.6b (down 1.1% from 3Q 2020). Net income: JP¥1.63b (up 5.4% from 3Q 2020). Profit margin: 5.7% (up from 5.3% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Analyst Estimate Surprise Post Earnings • Feb 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 41%. Over the next year, revenue is forecast to grow 5.0%, compared to a 6.5% growth forecast for the Chemicals industry in Japan. Is New 90 Day High Low • Dec 01
New 90-day high: JP¥4,855 The company is up 22% from its price of JP¥3,990 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. Price Target Changed • Dec 01
Price target raised to JP¥5,500 Up from JP¥4,600, the current price target is provided by 1 analyst. The new target price is 13% above the current share price of JP¥4,855. As of last close, the stock is up 38% over the past year.