Reported Earnings • May 09
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: JP¥264 (up from JP¥212 in FY 2025). Revenue: JP¥319.4b (up 1.1% from FY 2025). Net income: JP¥17.4b (up 20% from FY 2025). Profit margin: 5.4% (up from 4.6% in FY 2025). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 4.1%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 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 29% per year whereas the company’s share price has increased by 33% per year. Announcement • May 08
LINTEC Corporation, Annual General Meeting, Jun 22, 2026 LINTEC Corporation, Annual General Meeting, Jun 22, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.3%). Price Target Changed • Feb 17
Price target increased by 8.9% to JP¥4,888 Up from JP¥4,490, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥4,930. Stock is up 69% over the past year. The company is forecast to post earnings per share of JP¥276 for next year compared to JP¥212 last year. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: JP¥77.43 (vs JP¥78.04 in 3Q 2025) Third quarter 2026 results: EPS: JP¥77.43 (down from JP¥78.04 in 3Q 2025). Revenue: JP¥82.1b (up 1.9% from 3Q 2025). Net income: JP¥5.07b (down 5.1% from 3Q 2025). Profit margin: 6.2% (down from 6.6% in 3Q 2025). Revenue is forecast to grow 3.0% 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 but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 25
LINTEC Corporation to Report Q3, 2026 Results on Feb 09, 2026 LINTEC Corporation announced that they will report Q3, 2026 results on Feb 09, 2026 Declared Dividend • Nov 28
First half dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 30th March 2026 Payment date: 5th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 52% 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: EPS: JP¥78.06 (vs JP¥71.97 in 2Q 2025) Second quarter 2026 results: EPS: JP¥78.06 (up from JP¥71.97 in 2Q 2025). Revenue: JP¥77.7b (down 5.8% from 2Q 2025). Net income: JP¥5.11b (up 3.8% from 2Q 2025). Profit margin: 6.6% (up from 6.0% in 2Q 2025). Revenue is forecast to grow 2.4% 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 increased by 7% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Takanori Sano 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. Announcement • Sep 25
LINTEC Corporation to Report Q2, 2026 Results on Nov 07, 2025 LINTEC Corporation announced that they will report Q2, 2026 results on Nov 07, 2025 Declared Dividend • Jul 09
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
LINTEC Corporation to Report Q1, 2026 Results on Aug 07, 2025 LINTEC Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • Jun 25
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥212 (up from JP¥76.66 in FY 2024). Revenue: JP¥316.0b (up 14% from FY 2024). Net income: JP¥14.5b (up 176% from FY 2024). Profit margin: 4.6% (up from 1.9% in FY 2024). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 1.5% 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 fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • May 09
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥212 (up from JP¥76.66 in FY 2024). Revenue: JP¥316.0b (up 14% from FY 2024). Net income: JP¥14.5b (up 176% from FY 2024). Profit margin: 4.6% (up from 1.9% in FY 2024). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.6% 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 5% per year, which means it is well ahead of earnings. Announcement • May 08
LINTEC Corporation, Annual General Meeting, Jun 20, 2025 LINTEC Corporation, Annual General Meeting, Jun 20, 2025. Announcement • Mar 22
LINTEC Corporation to Report Fiscal Year 2025 Results on May 08, 2025 LINTEC Corporation announced that they will report fiscal year 2025 results on May 08, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 05 June 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: JP¥78.04 (vs JP¥29.65 in 3Q 2024) Third quarter 2025 results: EPS: JP¥78.04 (up from JP¥29.65 in 3Q 2024). Revenue: JP¥80.6b (up 12% from 3Q 2024). Net income: JP¥5.34b (up 163% from 3Q 2024). Profit margin: 6.6% (up from 2.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% 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 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Feb 06
LINTEC Corporation (TSE:7966) announces an Equity Buyback for 3,000,000 shares, representing 4.38% for ¥10,000 million. LINTEC Corporation (TSE:7966) announces a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 4.38% of its issued share capital (excluding treasury stock), for ¥10,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until September 30, 2025. As of December 31, 2024, the company had 68,427,691 shares in issue (excluding treasury stock) and 4,061,049 shares in treasury. Announcement • Jan 03
LINTEC Corporation to Report Q3, 2025 Results on Feb 06, 2025 LINTEC Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Declared Dividend • Nov 30
First half dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th March 2025 Payment date: 5th June 2025 Dividend yield will be 3.3%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥71.96 (vs JP¥12.66 in 2Q 2024) Second quarter 2025 results: EPS: JP¥71.96 (up from JP¥12.66 in 2Q 2024). Revenue: JP¥82.4b (up 24% from 2Q 2024). Net income: JP¥4.92b (up 469% from 2Q 2024). Profit margin: 6.0% (up from 1.3% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Major Estimate Revision • Oct 04
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥210 to JP¥240. Revenue forecast steady at JP¥300.9b. Net income forecast to grow 70% next year vs 11% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥4,125 to JP¥4,325. Share price was steady at JP¥3,435 over the past week. Announcement • Sep 25
LINTEC Corporation to Report Q2, 2025 Results on Nov 07, 2024 LINTEC Corporation announced that they will report Q2, 2025 results on Nov 07, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Price Target Changed • Aug 09
Price target increased by 8.3% to JP¥4,150 Up from JP¥3,833, the current price target is an average from 4 analysts. New target price is 50% above last closing price of JP¥2,762. Stock is up 17% over the past year. The company is forecast to post earnings per share of JP¥198 for next year compared to JP¥76.66 last year. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.1% 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 Dividend is not well covered by earnings (115% payout ratio). Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to JP¥2,456, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 9.0% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥44.00 announced Dividend of JP¥44.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 2.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (136% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 51% to bring the payout ratio under control. EPS is expected to grow by 80% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jun 26
LINTEC Corporation to Report Q1, 2025 Results on Aug 08, 2024 LINTEC Corporation announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • Jun 25
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥76.66 (down from JP¥168 in FY 2023). Revenue: JP¥276.3b (down 2.9% from FY 2023). Net income: JP¥5.24b (down 55% from FY 2023). Profit margin: 1.9% (down from 4.0% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 3.5% 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 30% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • May 10
LINTEC Corporation, Annual General Meeting, Jun 20, 2024 LINTEC Corporation, Annual General Meeting, Jun 20, 2024. Reported Earnings • May 09
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥76.66 (down from JP¥168 in FY 2023). Revenue: JP¥276.3b (down 2.9% from FY 2023). Net income: JP¥5.24b (down 55% from FY 2023). Profit margin: 1.9% (down from 4.0% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 4.3% 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 30% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Mar 27
LINTEC Corporation to Report Fiscal Year 2024 Results on May 08, 2024 LINTEC Corporation announced that they will report fiscal year 2024 results on May 08, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 68% and the cash payout ratio is 79%. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Price Target Changed • Mar 18
Price target increased by 13% to JP¥3,600 Up from JP¥3,200, the current price target is an average from 3 analysts. New target price is 12% above last closing price of JP¥3,210. Stock is up 50% over the past year. The company is forecast to post earnings per share of JP¥94.57 for next year compared to JP¥168 last year. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥29.65 (vs JP¥33.41 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.65 (down from JP¥33.41 in 3Q 2023). Revenue: JP¥71.8b (flat on 3Q 2023). Net income: JP¥2.03b (down 11% from 3Q 2023). Profit margin: 2.8% (down from 3.2% in 3Q 2023). Revenue is forecast to grow 3.9% 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 increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 24
LINTEC Corporation to Report Q3, 2024 Results on Feb 08, 2024 LINTEC Corporation announced that they will report Q3, 2024 results on Feb 08, 2024 Major Estimate Revision • Dec 23
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥277.4b to JP¥274.4b. EPS estimate also fell from JP¥102 per share to JP¥89.70 per share. Net income forecast to grow 80% next year vs 12% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥2,500 to JP¥2,750. Share price rose 4.0% to JP¥2,714 over the past week. Price Target Changed • Dec 22
Price target increased by 10% to JP¥2,750 Up from JP¥2,500, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,714. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥89.70 for next year compared to JP¥168 last year. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥12.66 (vs JP¥53.11 in 2Q 2023) Second quarter 2024 results: EPS: JP¥12.66 (down from JP¥53.11 in 2Q 2023). Revenue: JP¥66.7b (down 11% from 2Q 2023). Net income: JP¥866.0m (down 76% from 2Q 2023). Profit margin: 1.3% (down from 4.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.4% 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 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Sep 24
LINTEC Corporation to Report Q2, 2024 Results on Nov 08, 2023 LINTEC Corporation announced that they will report Q2, 2024 results on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥44.00 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.5%). Announcement • Sep 19
LINTEC Corporation(TSE:7966) dropped from FTSE All-World Index (USD) LINTEC Corporation(TSE:7966) dropped from FTSE All-World Index (USD) Major Estimate Revision • Sep 14
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥288.8b to JP¥283.1b. EPS estimate also fell from JP¥141 per share to JP¥118 per share. Net income forecast to grow 19% next year vs 6.3% growth forecast for Chemicals industry in Japan. Consensus price target of JP¥2,450 unchanged from last update. Share price was steady at JP¥2,492 over the past week. Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥16.09 (vs JP¥74.50 in 1Q 2023) First quarter 2024 results: EPS: JP¥16.09 (down from JP¥74.50 in 1Q 2023). Revenue: JP¥65.0b (down 6.4% from 1Q 2023). Net income: JP¥1.10b (down 79% from 1Q 2023). Profit margin: 1.7% (down from 7.4% in 1Q 2023). Revenue is forecast to grow 3.6% 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 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 28
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥168 (down from JP¥232 in FY 2022). Revenue: JP¥284.6b (up 11% from FY 2022). Net income: JP¥11.5b (down 31% from FY 2022). Profit margin: 4.0% (down from 6.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 3.2% 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 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jun 26
LINTEC Corporation to Report Q1, 2024 Results on Aug 09, 2023 LINTEC Corporation announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 09
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥168 (down from JP¥232 in FY 2022). Revenue: JP¥284.6b (up 11% from FY 2022). Net income: JP¥11.5b (down 31% from FY 2022). Profit margin: 4.0% (down from 6.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 2.3% 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 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥44.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.8%). Price Target Changed • Mar 14
Price target decreased by 7.7% to JP¥2,400 Down from JP¥2,600, the current price target is an average from 2 analysts. New target price is 11% above last closing price of JP¥2,154. Stock is down 10% over the past year. The company is forecast to post earnings per share of JP¥182 for next year compared to JP¥232 last year. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥33.41 (vs JP¥63.76 in 3Q 2022) Third quarter 2023 results: EPS: JP¥33.41 (down from JP¥63.76 in 3Q 2022). Revenue: JP¥72.1b (up 9.9% from 3Q 2022). Net income: JP¥2.28b (down 50% from 3Q 2022). Profit margin: 3.2% (down from 7.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% 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 22% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Dec 26
LINTEC Corporation to Report Q3, 2023 Results on Feb 10, 2023 LINTEC Corporation announced that they will report Q3, 2023 results on Feb 10, 2023 Major Estimate Revision • Dec 22
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥284.2b to JP¥288.0b. EPS estimate fell from JP¥227 to JP¥195 per share. Net income forecast to shrink 21% next year vs 1.3% growth forecast for Chemicals industry in Japan . Consensus price target down from JP¥2,600 to JP¥2,450. Share price fell 4.1% to JP¥2,136 over the past week. Price Target Changed • Dec 21
Price target decreased to JP¥2,450 Down from JP¥2,650, the current price target is an average from 2 analysts. New target price is 14% above last closing price of JP¥2,145. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥195 for next year compared to JP¥232 last year. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥53.10 (vs JP¥46.14 in 2Q 2022) Second quarter 2023 results: EPS: JP¥53.10 (up from JP¥46.14 in 2Q 2022). Revenue: JP¥74.9b (up 18% from 2Q 2022). Net income: JP¥3.63b (up 8.8% from 2Q 2022). Profit margin: 4.8% (down from 5.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% 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 23% per year but the company’s share price has fallen by 2% 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, 3 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Shigeru Sugimoto was the last independent director to join the board, commencing their role in 2021. 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 12
Second quarter 2023 earnings released: EPS: JP¥53.10 (vs JP¥46.14 in 2Q 2022) Second quarter 2023 results: EPS: JP¥53.10 (up from JP¥46.14 in 2Q 2022). Revenue: JP¥74.9b (up 18% from 2Q 2022). Net income: JP¥3.63b (up 8.8% from 2Q 2022). Profit margin: 4.8% (down from 5.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% 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 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 26
Price target decreased to JP¥2,600 Down from JP¥2,800, the current price target is an average from 2 analysts. New target price is 16% above last closing price of JP¥2,241. Stock is down 15% over the past year. The company is forecast to post earnings per share of JP¥227 for next year compared to JP¥232 last year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 38% and the cash payout ratio is 80%. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: JP¥74.50 (vs JP¥75.45 in 1Q 2022) First quarter 2023 results: EPS: JP¥74.50 (down from JP¥75.45 in 1Q 2022). Revenue: JP¥69.5b (up 11% from 1Q 2022). Net income: JP¥5.16b (down 5.4% from 1Q 2022). Profit margin: 7.4% (down from 8.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.2%, compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 26
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: JP¥256.8b (up 8.9% from FY 2021). Net income: JP¥16.6b (up 46% from FY 2021). Profit margin: 6.5% (up from 4.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 6.1%, compared to a 11% growth forecast for the industry in Japan. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥232 (up from JP¥158 in FY 2021). Revenue: JP¥256.8b (up 8.9% from FY 2021). Net income: JP¥16.6b (up 46% from FY 2021). Profit margin: 6.5% (up from 4.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 3.5%, 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 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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, 3 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Shigeru Sugimoto was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥49.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 04 June 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.4%). Higher 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¥63.76 (up from JP¥52.25 in 3Q 2021). Revenue: JP¥65.6b (up 8.8% from 3Q 2021). Net income: JP¥4.58b (up 21% from 3Q 2021). Profit margin: 7.0% (up from 6.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Over the next year, revenue is forecast to grow 1.8%, 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 12% 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 10
Second quarter 2022 earnings released: EPS JP¥46.14 (vs JP¥24.04 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥63.3b (up 14% from 2Q 2021). Net income: JP¥3.34b (up 92% from 2Q 2021). Profit margin: 5.3% (up from 3.1% in 2Q 2021). 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 2% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 27
Price target increased to JP¥3,000 Up from JP¥2,800, the current price target is an average from 2 analysts. New target price is 14% above last closing price of JP¥2,636. Stock is up 4.9% over the past year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 27 November 2021. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.9%). Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥75.45 (vs JP¥33.50 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥62.4b (up 11% from 1Q 2021). Net income: JP¥5.46b (up 125% from 1Q 2021). Profit margin: 8.7% (up from 4.3% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • Jun 26
Full year 2021 earnings released: EPS JP¥158 (vs JP¥133 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥235.9b (down 2.0% from FY 2020). Net income: JP¥11.4b (up 19% from FY 2020). Profit margin: 4.8% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • May 12
Full year 2021 earnings released: EPS JP¥158 (vs JP¥133 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥235.9b (down 2.0% from FY 2020). Net income: JP¥11.4b (up 19% from FY 2020). Profit margin: 4.8% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 10% per year. Major Estimate Revision • Mar 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from JP¥125 to JP¥146. Revenue forecast steady at JP¥233.3b. Net income forecast to grow 23% next year vs 23% growth forecast for Chemicals industry in Japan. Consensus price target up from JP¥2,500 to JP¥2,850. Share price fell 3.3% to JP¥2,533 over the past week. Price Target Changed • Mar 27
Price target increased to JP¥2,850 Up from JP¥2,500, the current price target is an average from 2 analysts. New target price is 13% above last closing price of JP¥2,533. Stock is up 9.9% over the past year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 04 June 2021. Trailing yield: 3.0%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.8%). Is New 90 Day High Low • Mar 03
New 90-day high: JP¥2,443 The company is up 8.0% from its price of JP¥2,252 on 03 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,380 per share. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥52.25 (vs JP¥47.66 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥60.3b (flat on 3Q 2020). Net income: JP¥3.78b (up 9.7% from 3Q 2020). Profit margin: 6.3% (up from 5.7% in 3Q 2020). 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 7% per year. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 4.0%, compared to a 6.5% growth forecast for the Chemicals industry in Japan. Is New 90 Day High Low • Jan 14
New 90-day high: JP¥2,422 The company is up 3.0% from its price of JP¥2,342 on 16 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥1,355 per share.