Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥103 (up from JP¥76.61 in FY 2025). Revenue: JP¥58.0b (up 10% from FY 2025). Net income: JP¥10.6b (up 35% from FY 2025). Profit margin: 18% (up from 15% 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 5.2%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Semiconductor 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 2% per year, which means it is significantly lagging earnings. Announcement • May 13
JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 24, 2026 JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 24, 2026. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,079, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total returns to shareholders of 19% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.0%). Announcement • Mar 17
JAPAN MATERIAL Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 JAPAN MATERIAL Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 13, 2026 Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,779, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥866 per share. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,081, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 22x in the Semiconductor industry in Japan. Total loss to shareholders of 7.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥883 per share. Reported Earnings • Feb 11
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: JP¥27.26 (up from JP¥19.01 in 3Q 2025). Revenue: JP¥16.1b (up 31% from 3Q 2025). Net income: JP¥2.80b (up 44% from 3Q 2025). Profit margin: 17% (up from 16% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Dec 02
JAPAN MATERIAL Co., Ltd. to Report Q3, 2026 Results on Feb 10, 2026 JAPAN MATERIAL Co., Ltd. announced that they will report Q3, 2026 results on Feb 10, 2026 Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥1,551, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,611 per share. Reported Earnings • Nov 15
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: EPS: JP¥21.01 (up from JP¥13.49 in 2Q 2025). Revenue: JP¥12.4b (up 4.4% from 2Q 2025). Net income: JP¥2.16b (up 56% from 2Q 2025). Profit margin: 17% (up from 12% in 2Q 2025). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 14
Dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 1.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to JP¥1,937. The fair value is estimated to be JP¥1,610, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,824, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 3.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,718 per share. New Risk • Sep 16
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 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Sep 02
JAPAN MATERIAL Co., Ltd. to Report Q2, 2026 Results on Nov 12, 2025 JAPAN MATERIAL Co., Ltd. announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥20.78 (up from JP¥14.98 in 1Q 2025). Revenue: JP¥13.3b (up 19% from 1Q 2025). Net income: JP¥2.14b (up 39% from 1Q 2025). Profit margin: 16% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Semiconductor 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 fallen by 9% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Jul 22
Now 21% undervalued Over the last 90 days, the stock has risen 24% to JP¥1,365. The fair value is estimated to be JP¥1,726, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 5.2%. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Jun 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥76.61 (up from JP¥55.32 in FY 2024). Revenue: JP¥52.7b (up 8.4% from FY 2024). Net income: JP¥7.87b (up 39% from FY 2024). Profit margin: 15% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Semiconductor 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 8% per year. Announcement • Jun 25
Japan Material Co., Ltd. Announces Change of Executive Officers JAPAN MATERIAL Co., Ltd. announced that at the Board of Directors meeting held on June 25, 2025, the company resolved to further accelerate decision making and improve management efficiency by strengthening the function of execution of operation through the appointment of executive officers. Yasushi Tamura has been appointed as Director and Managing Executive Officer, Division Director of Field Solution Division, transitioning from his current role as Director and Executive Officer, Division Director of Field Solution Division. Takaya Inami has been appointed as Executive Officer, Deputy Division Director of Sales Division, transitioning from his current role as Deputy Division Director of Sales Division. Announcement • Jun 19
JAPAN MATERIAL Co., Ltd. (TSE:6055) completed the acquisition of ASKA Electric Co., Ltd. from its shareholders. JAPAN MATERIAL Co., Ltd. (TSE:6055) concluded a share purchase agreement to acquire ASKA Electric Co., Ltd. from its shareholders on May 27, 2025.
For the period ending July 31, 2024, ASKA Electric Co., Ltd. reported total revenue of ¥1.1 billion. As of July 31, 2024, ASKA Electric Co., Ltd. reported total assets of ¥1.01 billion.
The expected completion of the transaction is June 19, 2025.
JAPAN MATERIAL Co., Ltd. (TSE:6055) completed the acquisition of ASKA Electric Co., Ltd. from its shareholders on June 19, 2025. Announcement • Jun 04
JAPAN MATERIAL Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 JAPAN MATERIAL Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Buy Or Sell Opportunity • May 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.3% to JP¥1,429. The fair value is estimated to be JP¥1,790, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 5.2%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥76.61 (up from JP¥55.32 in FY 2024). Revenue: JP¥52.7b (up 8.4% from FY 2024). Net income: JP¥7.87b (up 39% from FY 2024). Profit margin: 15% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Semiconductor 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 7% per year. New Risk • May 14
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 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,501, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,800 per share. Announcement • May 13
JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 25, 2025 JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 25, 2025. Price Target Changed • Apr 12
Price target decreased by 7.5% to JP¥1,920 Down from JP¥2,075, the current price target is an average from 5 analysts. New target price is 81% above last closing price of JP¥1,060. Stock is down 55% over the past year. The company is forecast to post earnings per share of JP¥68.99 for next year compared to JP¥55.32 last year. New Risk • Apr 04
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 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,114, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,086 per share. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.8%). Price Target Changed • Mar 04
Price target decreased by 8.3% to JP¥2,233 Down from JP¥2,435, the current price target is an average from 3 analysts. New target price is 68% above last closing price of JP¥1,330. Stock is down 48% over the past year. The company is forecast to post earnings per share of JP¥69.40 for next year compared to JP¥55.32 last year. Announcement • Mar 01
JAPAN MATERIAL Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 JAPAN MATERIAL Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 13
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥19.01 (up from JP¥15.44 in 3Q 2024). Revenue: JP¥12.3b (down 7.7% from 3Q 2024). Net income: JP¥1.95b (up 23% from 3Q 2024). Profit margin: 16% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) exceeded analyst estimates by 2.7%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor 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 only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Dec 07
JAPAN MATERIAL Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025 JAPAN MATERIAL Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥13.49 (up from JP¥11.46 in 2Q 2024). Revenue: JP¥11.9b (down 4.8% from 2Q 2024). Net income: JP¥1.39b (up 18% from 2Q 2024). Profit margin: 12% (up from 9.4% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Semiconductor 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 3% per year, which means it is well ahead of earnings. Declared Dividend • Nov 14
Dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 1.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (dividend approximately 6x free cash flows). The dividend has increased by an average of 24% 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 73% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 11
JAPAN MATERIAL Co., Ltd. to Report Q2, 2025 Results on Nov 12, 2024 JAPAN MATERIAL Co., Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: JP¥14.98 (up from JP¥10.86 in 1Q 2024). Revenue: JP¥11.2b (up 8.0% from 1Q 2024). Net income: JP¥1.54b (up 38% from 1Q 2024). Profit margin: 14% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor 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 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥1,500, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,741 per share. New Risk • Jun 10
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 5.5% 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 Share price has been volatile over the past 3 months (5.5% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Announcement • Jun 06
JAPAN MATERIAL Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 JAPAN MATERIAL Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 16
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥55.32 (down from JP¥77.00 in FY 2023). Revenue: JP¥48.6b (up 4.4% from FY 2023). Net income: JP¥5.68b (down 28% from FY 2023). Profit margin: 12% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor 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 20% per year, which means it is well ahead of earnings. Announcement • May 15
JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 26, 2024 JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (0.9%). Announcement • Mar 02
JAPAN MATERIAL Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 JAPAN MATERIAL Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥15.44 (vs JP¥19.72 in 3Q 2023) Third quarter 2024 results: EPS: JP¥15.44 (down from JP¥19.72 in 3Q 2023). Revenue: JP¥13.3b (up 14% from 3Q 2023). Net income: JP¥1.59b (down 22% from 3Q 2023). Profit margin: 12% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor 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 19% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to JP¥2,727. The fair value is estimated to be JP¥2,262, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. Announcement • Nov 30
JAPAN MATERIAL Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 JAPAN MATERIAL Co., Ltd. announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥11.46 (down from JP¥25.91 in 2Q 2023). Revenue: JP¥12.5b (down 2.5% from 2Q 2023). Net income: JP¥1.18b (down 56% from 2Q 2023). Profit margin: 9.4% (down from 21% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) also surpassed analyst estimates by 7.9%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 02
JAPAN MATERIAL Co., Ltd. to Report Q2, 2024 Results on Nov 09, 2023 JAPAN MATERIAL Co., Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: JP¥10.86 (down from JP¥18.04 in 1Q 2023). Revenue: JP¥10.3b (down 5.5% from 1Q 2023). Net income: JP¥1.12b (down 40% from 1Q 2023). Profit margin: 11% (down from 17% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Announcement • Jun 07
JAPAN MATERIAL Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 JAPAN MATERIAL Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Announcement • May 27
JAPAN MATERIAL Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ending September 30, 2023, and the Year Ending March 31, 2024 JAPAN MATERIAL Co., Ltd. provided consolidated earnings guidance for the six months ending September 30, 2023, and the year ending March 31, 2024. For the six months ending September 30, 2023, the company expects net sales of ¥21,000 million, an Operating profit of ¥2,600 million, Profit attributable to owners of the parent of ¥1,650 million or ¥16.07 basic per share.For the year ending March 31, 2024, the company expects net sales of ¥44,000 million, an Operating profit of ¥7,200 million, Profit attributable to owners of the parent of ¥4,800 million or ¥46.76 basic per share. Major Estimate Revision • May 24
Consensus EPS estimates fall by 36% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥49.7b to JP¥46.0b. EPS estimate also fell from JP¥85.26 per share to JP¥54.60 per share. Net income forecast to shrink 29% next year vs 9.3% decline forecast for Semiconductor industry in Japan. Consensus price target up from JP¥2,447 to JP¥2,530. Share price rose 16% to JP¥2,192 over the past week. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥2,156, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Semiconductor industry in Japan. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,631 per share. Reported Earnings • May 15
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥77.00 (up from JP¥65.63 in FY 2022). Revenue: JP¥46.5b (up 23% from FY 2022). Net income: JP¥7.90b (up 17% from FY 2022). Profit margin: 17% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 7% per year. Announcement • May 14
JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 28, 2023 JAPAN MATERIAL Co., Ltd., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.2%). Major Estimate Revision • Mar 11
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥49.0b to JP¥46.3b. EPS estimate also fell from JP¥87.65 per share to JP¥77.85 per share. Net income forecast to grow 4.4% next year vs 7.3% decline forecast for Semiconductor industry in Japan. Consensus price target down from JP¥2,526 to JP¥2,400. Share price fell 4.6% to JP¥2,208 over the past week. Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: JP¥19.72 (up from JP¥16.36 in 3Q 2022). Revenue: JP¥11.7b (up 28% from 3Q 2022). Net income: JP¥2.02b (up 21% from 3Q 2022). Profit margin: 17% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) exceeded analyst estimates by 3.8%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. Announcement • Nov 27
JAPAN MATERIAL Co., Ltd. to Report Q3, 2023 Results on Feb 08, 2023 JAPAN MATERIAL Co., Ltd. announced that they will report Q3, 2023 results on Feb 08, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥25.91 (up from JP¥17.20 in 2Q 2022). Revenue: JP¥12.8b (up 34% from 2Q 2022). Net income: JP¥2.66b (up 51% from 2Q 2022). Profit margin: 21% (up from 18% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year. Price Target Changed • Nov 16
Price target increased to JP¥2,200 Up from JP¥2,050, the current price target is an average from 2 analysts. New target price is 12% below last closing price of JP¥2,494. Stock is up 64% over the past year. The company is forecast to post earnings per share of JP¥86.70 for next year compared to JP¥65.63 last year. Reported Earnings • Nov 11
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥25.91 (up from JP¥17.20 in 2Q 2022). Revenue: JP¥12.8b (up 34% from 2Q 2022). Net income: JP¥2.66b (up 51% from 2Q 2022). Profit margin: 21% (up from 18% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 11% per year. Buying Opportunity • Oct 07
Now 22% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be JP¥2,453, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 30% in the next 2 years. Buying Opportunity • Sep 12
Now 20% undervalued Over the last 90 days, the stock is up 4.9%. The fair value is estimated to be JP¥2,447, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 30% in the next 2 years. Announcement • Aug 28
JAPAN MATERIAL Co., Ltd. to Report Q2, 2023 Results on Nov 09, 2022 JAPAN MATERIAL Co., Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Buying Opportunity • Aug 22
Now 21% undervalued Over the last 90 days, the stock is up 9.8%. The fair value is estimated to be JP¥2,477, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 30% in the next 2 years. 
