Buy Or Sell Opportunity • May 22
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 88% to JP¥11,890. The fair value is estimated to be JP¥9,019, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 9.8%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥10,940, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 106% over the past three years. Buy Or Sell Opportunity • Apr 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 143% to JP¥11,560. The fair value is estimated to be JP¥9,533, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 9.8%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥11,100, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 141% over the past three years. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥9,810, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 119% over the past three years. Buy Or Sell Opportunity • Mar 17
Now 24% undervalued Over the last 90 days, the stock has risen 82% to JP¥7,180. The fair value is estimated to be JP¥9,436, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 9.8%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Declared Dividend • Mar 14
Dividend of JP¥60.00 announced Dividend of JP¥60.00 is the same as last year. Ex-date: 30th July 2026 Payment date: 22nd October 2026 Dividend yield will be 0.9%, which is lower than the industry average of 1.0%. Sustainability & Growth New Risk • Mar 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 13
First half 2026 earnings released: EPS: JP¥93.50 (vs JP¥88.89 in 1H 2025) First half 2026 results: EPS: JP¥93.50 (up from JP¥88.89 in 1H 2025). Revenue: JP¥4.59b (up 11% from 1H 2025). Net income: JP¥751.0m (up 5.2% from 1H 2025). Profit margin: 16% (in line with 1H 2025). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 15% 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 increased by 18% per year, which means it is tracking significantly ahead of earnings growth. 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¥5,500, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥5,350, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 53% over the past three years. Announcement • Dec 27
SAMCO Inc. to Report Q2, 2026 Results on Mar 12, 2026 SAMCO Inc. announced that they will report Q2, 2026 results on Mar 12, 2026 Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥4,670, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 42% over the past three years. New Risk • Nov 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥4,130, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 42% over the past three years. Announcement • Sep 27
SAMCO Inc. to Report Q1, 2026 Results on Dec 11, 2025 SAMCO Inc. announced that they will report Q1, 2026 results on Dec 11, 2025 Reported Earnings • Sep 13
Full year 2025 earnings released: EPS: JP¥211 (vs JP¥183 in FY 2024) Full year 2025 results: EPS: JP¥211 (up from JP¥183 in FY 2024). Revenue: JP¥9.34b (up 14% from FY 2024). Net income: JP¥1.70b (up 15% from FY 2024). Profit margin: 18% (in line with FY 2024). Revenue is forecast to grow 10% p.a. on average during the next 2 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 increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Sep 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JP¥3,420, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 6.9% over the past three years. Announcement • Sep 10
SAMCO Inc., Annual General Meeting, Oct 21, 2025 SAMCO Inc., Annual General Meeting, Oct 21, 2025. Upcoming Dividend • Jul 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 23 October 2025. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.5%). Announcement • Jul 02
SAMCO Inc. to Report Fiscal Year 2025 Results on Sep 10, 2025 SAMCO Inc. announced that they will report fiscal year 2025 results on Sep 10, 2025 Reported Earnings • Jun 12
Third quarter 2025 earnings released: EPS: JP¥31.72 (vs JP¥28.01 in 3Q 2024) Third quarter 2025 results: EPS: JP¥31.72 (up from JP¥28.01 in 3Q 2024). Revenue: JP¥2.12b (up 28% from 3Q 2024). Net income: JP¥254.8m (up 13% from 3Q 2024). Profit margin: 12% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% 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 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥2,197, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Semiconductor industry in Japan. Total loss to shareholders of 6.3% over the past three years. Announcement • Mar 29
SAMCO Inc. to Report Q3, 2025 Results on Jun 11, 2025 SAMCO Inc. announced that they will report Q3, 2025 results on Jun 11, 2025 Declared Dividend • Mar 14
Dividend of JP¥45.00 announced Dividend of JP¥45.00 is the same as last year. Ex-date: 30th July 2025 Payment date: 23rd October 2025 Dividend yield will be 1.6%, which is higher than the industry average of 1.0%. Sustainability & Growth The dividend has not increased over the past 2 years but payments have been stable during that time. Reported Earnings • Mar 13
Second quarter 2025 earnings released: EPS: JP¥77.72 (vs JP¥68.85 in 2Q 2024) Second quarter 2025 results: EPS: JP¥77.72 (up from JP¥68.85 in 2Q 2024). Revenue: JP¥2.84b (up 4.4% from 2Q 2024). Net income: JP¥624.3m (up 13% from 2Q 2024). Profit margin: 22% (up from 20% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% 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 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 03
SAMCO Inc. to Report Q2, 2025 Results on Mar 12, 2025 SAMCO Inc. announced that they will report Q2, 2025 results on Mar 12, 2025 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,230, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Semiconductor industry in Japan. Total returns to shareholders of 21% over the past three years. Buy Or Sell Opportunity • Dec 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to JP¥2,622. The fair value is estimated to be JP¥3,287, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Reported Earnings • Dec 12
First quarter 2025 earnings released: EPS: JP¥11.08 (vs JP¥24.15 in 1Q 2024) First quarter 2025 results: EPS: JP¥11.08 (down from JP¥24.15 in 1Q 2024). Revenue: JP¥1.28b (down 7.5% from 1Q 2024). Net income: JP¥89.0m (down 54% from 1Q 2024). Profit margin: 7.0% (down from 14% in 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to JP¥3,240. The fair value is estimated to be JP¥4,133, however this is not to be taken as a buy 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 19%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Buy Or Sell Opportunity • Oct 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to JP¥3,315. The fair value is estimated to be JP¥4,175, however this is not to be taken as a buy 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 19%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Sep 28
SAMCO Inc. to Report Q1, 2025 Results on Dec 09, 2024 SAMCO Inc. announced that they will report Q1, 2025 results on Dec 09, 2024 New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). Reported Earnings • Sep 15
Full year 2024 earnings released: EPS: JP¥183 (vs JP¥170 in FY 2023) Full year 2024 results: EPS: JP¥183 (up from JP¥170 in FY 2023). Revenue: JP¥8.20b (up 4.8% from FY 2023). Net income: JP¥1.47b (up 7.8% from FY 2023). Profit margin: 18% (in line with FY 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 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 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Sep 11
SAMCO Inc., Annual General Meeting, Oct 22, 2024 SAMCO Inc., Annual General Meeting, Oct 22, 2024. Buy Or Sell Opportunity • Aug 13
Now 23% overvalued Over the last 90 days, the stock has fallen 22% to JP¥3,600. The fair value is estimated to be JP¥2,923, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to JP¥3,040, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 3.0% over the past three years. Upcoming Dividend • Jul 23
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 30 July 2024. Payment date: 25 October 2024. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.2%). New Risk • Jul 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jul 10
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 6.3% to JP¥4,890. The fair value is estimated to be JP¥3,908, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Announcement • Jul 04
SAMCO Inc. to Report Fiscal Year 2024 Results on Sep 11, 2024 SAMCO Inc. announced that they will report fiscal year 2024 results on Sep 11, 2024 Reported Earnings • Jun 10
Third quarter 2024 earnings released: EPS: JP¥28.01 (vs JP¥33.12 in 3Q 2023) Third quarter 2024 results: EPS: JP¥28.01 (down from JP¥33.12 in 3Q 2023). Revenue: JP¥1.65b (down 4.3% from 3Q 2023). Net income: JP¥225.0m (down 15% from 3Q 2023). Profit margin: 14% (down from 15% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% 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 increased by 25% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
SAMCO Inc. to Report Q3, 2024 Results on Jun 07, 2024 SAMCO Inc. announced that they will report Q3, 2024 results on Jun 07, 2024 Declared Dividend • Mar 15
Dividend of JP¥45.00 announced Dividend of JP¥45.00 is the same as last year. Ex-date: 30th July 2024 Payment date: 25th October 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.0%. Sustainability & Growth Reported Earnings • Mar 14
Second quarter 2024 earnings released: EPS: JP¥68.84 (vs JP¥60.26 in 2Q 2023) Second quarter 2024 results: EPS: JP¥68.84 (up from JP¥60.26 in 2Q 2023). Revenue: JP¥2.73b (up 13% from 2Q 2023). Net income: JP¥553.0m (up 14% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). 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 increased by 31% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Jan 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Announcement • Jan 09
SAMCO Inc. to Report Q2, 2024 Results on Mar 13, 2024 SAMCO Inc. announced that they will report Q2, 2024 results on Mar 13, 2024 Reported Earnings • Dec 14
First quarter 2024 earnings released: EPS: JP¥24.15 (vs JP¥26.89 in 1Q 2023) First quarter 2024 results: EPS: JP¥24.15 (down from JP¥26.89 in 1Q 2023). Revenue: JP¥1.38b (down 3.3% from 1Q 2023). Net income: JP¥194.0m (down 10% from 1Q 2023). Profit margin: 14% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% 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 increased by 35% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,960, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 56% over the past three years. Announcement • Oct 15
SAMCO Inc. to Report Q1, 2024 Results on Dec 11, 2023 SAMCO Inc. announced that they will report Q1, 2024 results on Dec 11, 2023 New Risk • Sep 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.2% average weekly change). Announcement • Sep 13
SAMCO Inc., Annual General Meeting, Oct 24, 2023 SAMCO Inc., Annual General Meeting, Oct 24, 2023. Reported Earnings • Sep 13
Full year 2023 earnings released: EPS: JP¥170 (vs JP¥131 in FY 2022) Full year 2023 results: EPS: JP¥170 (up from JP¥131 in FY 2022). Revenue: JP¥7.83b (up 22% from FY 2022). Net income: JP¥1.37b (up 30% from FY 2022). Profit margin: 17% (in line with FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 21
Inaugural dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 26 October 2023. This is the first dividend for SAMCO since going public. The average dividend yield among industry peers is 1.4%. Announcement • Jul 06
SAMCO Inc. to Report Fiscal Year 2023 Results on Sep 11, 2023 SAMCO Inc. announced that they will report fiscal year 2023 results on Sep 11, 2023 Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥6,550, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 234% over the past three years. Reported Earnings • Jun 11
Third quarter 2023 earnings released: EPS: JP¥33.11 (vs JP¥25.27 in 3Q 2022) Third quarter 2023 results: EPS: JP¥33.11 (up from JP¥25.27 in 3Q 2022). Revenue: JP¥1.73b (up 27% from 3Q 2022). Net income: JP¥266.0m (up 31% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 41% per year. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥5,080, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 11x in the Semiconductor industry in Japan. Total returns to shareholders of 273% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥4,230, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 11x in the Semiconductor industry in Japan. Total returns to shareholders of 201% over the past three years. Reported Earnings • Mar 11
Second quarter 2023 earnings released: EPS: JP¥60.25 (vs JP¥41.46 in 2Q 2022) Second quarter 2023 results: EPS: JP¥60.25 (up from JP¥41.46 in 2Q 2022). Revenue: JP¥2.42b (up 33% from 2Q 2022). Net income: JP¥484.0m (up 45% from 2Q 2022). Profit margin: 20% (up from 18% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 38% per year. Announcement • Jan 07
SAMCO Inc. to Report Q2, 2023 Results on Mar 10, 2023 SAMCO Inc. announced that they will report Q2, 2023 results on Mar 10, 2023 Reported Earnings • Dec 11
First quarter 2023 earnings released: EPS: JP¥26.89 (vs JP¥5.98 in 1Q 2022) First quarter 2023 results: EPS: JP¥26.89 (up from JP¥5.98 in 1Q 2022). Revenue: JP¥1.43b (up 32% from 1Q 2022). Net income: JP¥216.0m (up 350% from 1Q 2022). Profit margin: 15% (up from 4.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 45% per year. Price Target Changed • Nov 16
Price target increased to JP¥3,800 Up from JP¥3,000, the current price target is provided by 1 analyst. New target price is 8.1% above last closing price of JP¥3,515. Stock is up 11% over the past year. The company posted earnings per share of JP¥131 last year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Outside Director Hiroaki Kobayashi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 10
Full year 2022 earnings released: EPS: JP¥131 (vs JP¥94.00 in FY 2021) Full year 2022 results: EPS: JP¥131 (up from JP¥94.00 in FY 2021). Revenue: JP¥6.40b (up 11% from FY 2021). Net income: JP¥1.05b (up 39% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 25 October 2022. The company last paid an ordinary dividend in September 2011. The average dividend yield among industry peers is 2.6%. Reported Earnings • Jun 13
Third quarter 2022 earnings released: EPS: JP¥25.27 (vs JP¥16.31 in 3Q 2021) Third quarter 2022 results: EPS: JP¥25.27 (up from JP¥16.31 in 3Q 2021). Revenue: JP¥1.36b (up 9.4% from 3Q 2021). Net income: JP¥203.0m (up 55% from 3Q 2021). Profit margin: 15% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target decreased to JP¥3,000 Down from JP¥4,350, the current price target is provided by 1 analyst. New target price is 21% above last closing price of JP¥2,475. Stock is down 27% over the past year. The company posted earnings per share of JP¥94.00 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Outside Director Hiroaki Kobayashi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥2,437, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 13x in the Semiconductor industry in Japan. Total returns to shareholders of 195% over the past three years. Reported Earnings • Mar 12
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: JP¥41.45 (up from JP¥30.13 in 2Q 2021). Revenue: JP¥1.83b (up 17% from 2Q 2021). Net income: JP¥333.0m (up 38% from 2Q 2021). Profit margin: 18% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 34% per year. Price Target Changed • Jan 20
Price target decreased to JP¥3,600 Down from JP¥4,350, the current price target is provided by 1 analyst. New target price is 54% above last closing price of JP¥2,334. Stock is down 42% over the past year. The company posted earnings per share of JP¥94.00 last year. Reported Earnings • Dec 14
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥5.98 (up from JP¥6.35 loss in 1Q 2021). Revenue: JP¥1.09b (up 51% from 1Q 2021). Net income: JP¥48.0m (up JP¥99.0m from 1Q 2021). Profit margin: 4.4% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 22
Inaugural dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 19 October 2021. The company last paid an ordinary dividend in June 2012. The average dividend yield among industry peers is 1.7%. Reported Earnings • Jun 14
Third quarter 2021 earnings released: EPS JP¥16.30 (vs JP¥13.57 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¥1.24b (down 5.4% from 3Q 2020). Net income: JP¥131.0m (up 20% from 3Q 2020). Profit margin: 11% (up from 8.3% 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 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 15
New 90-day low: JP¥3,025 The company is down 1.0% from a price of JP¥3,045 on 15 December 2020. Underperformed the Japanese market, which is up 9.0% over the last 90 days. Lagged the Semiconductor industry, which is up 13% over the same period. Reported Earnings • Mar 12
Second quarter 2021 earnings released: EPS JP¥30.12 (vs JP¥31.50 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2021 results: Revenue: JP¥1.56b (down 13% from 2Q 2020). Net income: JP¥242.0m (down 4.3% from 2Q 2020). Profit margin: 16% (up from 14% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 26
Price target raised to JP¥4,200 Up from JP¥3,433, the current price target is provided by 1 analyst. The new target price is close to the current share price of JP¥4,110. As of last close, the stock is up 92% over the past year.