Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥10,560, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 23x in the Semiconductor industry in Japan. Total returns to shareholders of 391% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,335 per share. Price Target Changed • Jun 19
Price target increased by 33% to JP¥5,400 Up from JP¥4,050, the current price target is an average from 2 analysts. New target price is 49% below last closing price of JP¥10,560. Stock is up 307% over the past year. The company is forecast to post earnings per share of JP¥524 for next year compared to JP¥492 last year. Board Change • Jun 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Outside Director Suzue Fujimori was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 17
Yamaichi Electronics Co.,Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Yamaichi Electronics Co.,Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Announcement • May 13
Yamaichi Electronics Co.,Ltd., Annual General Meeting, Jun 25, 2026 Yamaichi Electronics Co.,Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 10
Yamaichi Electronics Co.,Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Yamaichi Electronics Co.,Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥97.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥9,530, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Semiconductor industry in Japan. Total returns to shareholders of 441% over the past three years. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥126 (vs JP¥19.54 in 3Q 2025) Third quarter 2026 results: EPS: JP¥126 (up from JP¥19.54 in 3Q 2025). Revenue: JP¥12.9b (up 50% from 3Q 2025). Net income: JP¥2.33b (up 492% from 3Q 2025). Profit margin: 18% (up from 4.6% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% 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 6% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥6,900, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 338% over the past three years. Price Target Changed • Dec 27
Price target increased by 26% to JP¥5,100 Up from JP¥4,050, the current price target is an average from 3 analysts. New target price is 13% below last closing price of JP¥5,880. Stock is up 150% over the past year. The company is forecast to post earnings per share of JP¥368 for next year compared to JP¥259 last year. Announcement • Dec 16
Yamaichi Electronics Co.,Ltd. to Report Q3, 2026 Results on Feb 04, 2026 Yamaichi Electronics Co.,Ltd. announced that they will report Q3, 2026 results on Feb 04, 2026 Declared Dividend • Nov 29
First half dividend of JP¥70.00 announced Shareholders will receive a dividend of JP¥70.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥5,970, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Semiconductor industry in Japan. Total returns to shareholders of 246% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,068 per share. Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: JP¥101 (vs JP¥44.74 in 2Q 2025) Second quarter 2026 results: EPS: JP¥101 (up from JP¥44.74 in 2Q 2025). Revenue: JP¥12.1b (down 3.0% from 2Q 2025). Net income: JP¥1.86b (up 105% from 2Q 2025). Profit margin: 15% (up from 7.3% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. New Risk • Nov 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 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.5% average weekly change). Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥4,500, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Semiconductor industry in Japan. Total returns to shareholders of 132% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,195 per share. Announcement • Sep 30
Yamaichi Electronics Co.,Ltd. to Report Q2, 2026 Results on Nov 05, 2025 Yamaichi Electronics Co.,Ltd. announced that they will report Q2, 2026 results on Nov 05, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 01 December 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.3%). Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥151 (vs JP¥156 in 1Q 2025) First quarter 2026 results: EPS: JP¥151 (down from JP¥156 in 1Q 2025). Revenue: JP¥14.7b (down 3.1% from 1Q 2025). Net income: JP¥2.79b (down 12% from 1Q 2025). Profit margin: 19% (down from 21% in 1Q 2025). Revenue is forecast to grow 5.1% 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 21% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 29th September 2025 Payment date: 1st December 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 01
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥259 (up from JP¥100 in FY 2024). Revenue: JP¥45.3b (up 24% from FY 2024). Net income: JP¥5.24b (up 154% from FY 2024). Profit margin: 12% (up from 5.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 5.3% 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 fallen by 22% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Jun 29
Yamaichi Electronics Co.,Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Yamaichi Electronics Co.,Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥259 (up from JP¥100 in FY 2024). Revenue: JP¥45.3b (up 24% from FY 2024). Net income: JP¥5.24b (up 154% from FY 2024). Profit margin: 12% (up from 5.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 5.7% 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 22% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥2,416, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Semiconductor industry in Japan. Total returns to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,494 per share. Announcement • May 13
Yamaichi Electronics Co.,Ltd., Annual General Meeting, Jun 26, 2025 Yamaichi Electronics Co.,Ltd., Annual General Meeting, Jun 26, 2025. New Risk • Apr 07
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 6.0% 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,709, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Semiconductor industry in Japan. Total returns to shareholders of 15% over the past three years. Announcement • Mar 21
Yamaichi Electronics Co.,Ltd. (TSE:6941) announces an Equity Buyback for 1,250,000 shares, representing 6.36% for ¥2,500 million. Yamaichi Electronics Co.,Ltd. (TSE:6941) announces a share repurchase program. Under the program, the company will repurchase up to 1,250,000 shares, representing 6.36% of its issued share capital, for ¥ 2,500 million. The purpose of the program is to increase corporate value and implement a flexible capital policy that takes into account capital costs and stock prices. The program is valid till May 31, 2025. As of March 21, 2025, there are 19,647,444 outstanding shares (excluding treasury stock) and 2,182,331 treasury shares. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.8%). Announcement • Mar 20
Yamaichi Electronics Co.,Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Yamaichi Electronics Co.,Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Major Estimate Revision • Feb 14
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥49.5b to JP¥46.0b. EPS estimate also fell from JP¥302 per share to JP¥249 per share. Net income forecast to grow 14% next year vs 7.6% growth forecast for Semiconductor industry in Japan. Consensus price target down from JP¥4,400 to JP¥4,150. Share price fell 5.0% to JP¥2,120 over the past week. Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥19.54 (vs JP¥9.29 in 3Q 2024) Third quarter 2025 results: EPS: JP¥19.54 (up from JP¥9.29 in 3Q 2024). Revenue: JP¥8.56b (up 1.8% from 3Q 2024). Net income: JP¥393.0m (up 107% from 3Q 2024). Profit margin: 4.6% (up from 2.3% in 3Q 2024). Revenue is forecast to grow 6.8% 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 22% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Feb 05
Yamaichi Electronics Co.,Ltd. (TSE:6941) announces an Equity Buyback for 450,000 shares, representing 2.24% for KRW 1,000 million. Yamaichi Electronics Co.,Ltd. (TSE:6941) announces a share repurchase program. Under the program, the company will repurchase up to 450,000 shares, representing 2.24% of its issued share capital (excluding treasury stock), for ¥1,000 million. The purpose of the program is to achieve return of profits to shareholders by implementing flexible capital policies in response to changes in the business environment and improving capital efficiency. The program will run until July 31, 2025. As of December 31, 2024, the company had 20,097,469 shares in issue (excluding treasury stock) and 1,732,306 shares in treasury. Announcement • Dec 14
Yamaichi Electronics Co.,Ltd. to Report Q3, 2025 Results on Feb 05, 2025 Yamaichi Electronics Co.,Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Declared Dividend • Nov 30
First half dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥44.74 (vs JP¥41.60 in 2Q 2024) Second quarter 2025 results: EPS: JP¥44.74 (up from JP¥41.60 in 2Q 2024). Revenue: JP¥12.5b (up 27% from 2Q 2024). Net income: JP¥909.0m (up 6.8% from 2Q 2024). Profit margin: 7.3% (down from 8.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% 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 fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Sep 20
Yamaichi Electronics Co.,Ltd. to Report Q2, 2025 Results on Nov 06, 2024 Yamaichi Electronics Co.,Ltd. announced that they will report Q2, 2025 results on Nov 06, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥156 (vs JP¥16.76 in 1Q 2024) First quarter 2025 results: EPS: JP¥156 (up from JP¥16.76 in 1Q 2024). Revenue: JP¥15.1b (up 72% from 1Q 2024). Net income: JP¥3.18b (up JP¥2.84b from 1Q 2024). Profit margin: 21% (up from 3.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% 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 12% per year but the company’s share price has increased by 16% 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¥2,357, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 60% over the past three years. New Risk • Jun 22
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 7.4% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.4% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (5.7% net profit margin). Announcement • Jun 17
Yamaichi Electronics Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Yamaichi Electronics Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Buy Or Sell Opportunity • May 30
Now 21% undervalued Over the last 90 days, the stock has risen 52% to JP¥3,475. The fair value is estimated to be JP¥4,404, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has declined by 3.8%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Major Estimate Revision • May 23
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥41.5b to JP¥46.0b. EPS estimate increased from JP¥161 to JP¥245 per share. Net income forecast to grow 143% next year vs 17% growth forecast for Semiconductor industry in Japan. Consensus price target up from JP¥3,000 to JP¥4,000. Share price rose 6.7% to JP¥3,655 over the past week. Reported Earnings • May 18
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥100 (down from JP¥346 in FY 2023). Revenue: JP¥36.4b (down 23% from FY 2023). Net income: JP¥2.06b (down 71% from FY 2023). Profit margin: 5.7% (down from 15% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 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 4% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Announcement • May 16
Yamaichi Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024 Yamaichi Electronics Co., Ltd., Annual General Meeting, Jun 26, 2024. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥3,270, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 21x in the Semiconductor industry in Japan. Total returns to shareholders of 144% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,150 per share. Announcement • May 15
Yamaichi Electronics Co., Ltd. (TSE:6941) announces an Equity Buyback for 500,000 shares, representing 2.45% for ¥1,000 million. Yamaichi Electronics Co.,Ltd. (TSE:6941) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 2.45% of its issued share capital (excluding treasury stock), for ¥1,000 million. The purpose of the program is to achieve return of profits to shareholders by implementing flexible capital policies in response to changes in the business environment and improving capital efficiency. The program will run until December 31, 2024. As of March 31, 2024, the company had 20,443,377 shares in issue (excluding treasury stock) and 1,386,398 shares in treasury. Buy Or Sell Opportunity • Apr 05
Now 21% undervalued Over the last 90 days, the stock has risen 36% to JP¥2,495. The fair value is estimated to be JP¥3,157, however this is not to be taken as a buy 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 12%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Announcement • Mar 23
Yamaichi Electronics Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Yamaichi Electronics Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.9%). Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥9.29 (vs JP¥30.33 in 3Q 2023) Third quarter 2024 results: EPS: JP¥9.29 (down from JP¥30.33 in 3Q 2023). Revenue: JP¥8.41b (down 15% from 3Q 2023). Net income: JP¥190.0m (down 70% from 3Q 2023). Profit margin: 2.3% (down from 6.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% 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 12% per year whereas the company’s share price has increased by 16% per year. Announcement • Dec 28
Yamaichi Electronics Co., Ltd. to Report Q3, 2024 Results on Feb 06, 2024 Yamaichi Electronics Co., Ltd. announced that they will report Q3, 2024 results on Feb 06, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥41.60 (down from JP¥128 in 2Q 2023). Revenue: JP¥9.79b (down 30% from 2Q 2023). Net income: JP¥851.0m (down 68% from 2Q 2023). Profit margin: 8.7% (down from 19% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
Yamaichi Electronics Co.,Ltd. to Report Q2, 2024 Results on Nov 07, 2023 Yamaichi Electronics Co.,Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥25.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Major Estimate Revision • Sep 07
Consensus EPS estimates fall by 38% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥38.5b to JP¥38.0b. EPS estimate also fell from JP¥166 per share to JP¥103 per share. Net income forecast to shrink 53% next year vs 5.4% decline forecast for Semiconductor industry in Japan. Consensus price target of JP¥3,000 unchanged from last update. Share price fell 3.2% to JP¥1,781 over the past week. New Risk • Aug 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (12% net profit margin). Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥42.0b to JP¥38.5b. EPS estimate also fell from JP¥226 per share to JP¥166 per share. Net income forecast to shrink 28% next year vs 5.7% decline forecast for Semiconductor industry in Japan. Consensus price target down from JP¥4,500 to JP¥3,000. Share price fell 7.5% to JP¥1,781 over the past week. New Risk • Aug 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥16.76 (vs JP¥123 in 1Q 2023) First quarter 2024 results: EPS: JP¥16.76 (down from JP¥123 in 1Q 2023). Revenue: JP¥8.82b (down 33% from 1Q 2023). Net income: JP¥347.0m (down 87% from 1Q 2023). Profit margin: 3.9% (down from 20% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% 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 38% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,924, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 61% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,643 per share. Announcement • Jun 23
Yamaichi Electronics Co.,Ltd. to Report Q1, 2024 Results on Aug 04, 2023 Yamaichi Electronics Co.,Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥346 (up from JP¥319 in FY 2022). Revenue: JP¥47.0b (up 19% from FY 2022). Net income: JP¥7.21b (up 6.5% from FY 2022). Profit margin: 15% (down from 17% 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 14%. Revenue is forecast to stay flat 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 47% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥52.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥30.33 (vs JP¥88.38 in 3Q 2022) Third quarter 2023 results: EPS: JP¥30.33 (down from JP¥88.38 in 3Q 2022). Revenue: JP¥9.89b (down 2.6% from 3Q 2022). Net income: JP¥629.0m (down 66% from 3Q 2022). Profit margin: 6.4% (down from 18% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.6% 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 50% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Dec 21
Yamaichi Electronics Co.,Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Yamaichi Electronics Co.,Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: JP¥128 (up from JP¥72.45 in 2Q 2022). Revenue: JP¥14.0b (up 45% from 2Q 2022). Net income: JP¥2.66b (up 73% from 2Q 2022). Profit margin: 19% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 4.8% 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 52% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Toshihisa Yoda was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: JP¥128 (up from JP¥72.45 in 2Q 2022). Revenue: JP¥14.0b (up 45% from 2Q 2022). Net income: JP¥2.66b (up 73% from 2Q 2022). Profit margin: 19% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Sep 22
Yamaichi Electronics Co.,Ltd. to Report Q2, 2023 Results on Nov 14, 2022 Yamaichi Electronics Co.,Ltd. announced that they will report Q2, 2023 results on Nov 14, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.9%). Major Estimate Revision • Sep 06
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from JP¥48.0b to JP¥47.4b. EPS estimate rose from JP¥317 to JP¥351. Net income forecast to shrink 6.9% next year vs 6.1% growth forecast for Semiconductor industry in Japan . Consensus price target of JP¥5,500 unchanged from last update. Share price was steady at JP¥2,028 over the past week. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥123 (vs JP¥67.55 in 1Q 2022) First quarter 2023 results: EPS: JP¥123 (up from JP¥67.55 in 1Q 2022). Revenue: JP¥13.2b (up 48% from 1Q 2022). Net income: JP¥2.59b (up 79% from 1Q 2022). Profit margin: 20% (up from 16% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 6.4% compared to a 22% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jun 25
Yamaichi Electronics Co.,Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Yamaichi Electronics Co.,Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Announcement • May 28
Yamaichi Electronics Co.,Ltd. (TSE:6941) announces an Equity Buyback for 400,000 shares, representing 1.89% for ¥700 million. Yamaichi Electronics Co.,Ltd. (TSE:6941) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 1.89% of its share capital, for ¥700 million. The company will repurchase its shares in order to return profits to shareholders by implementing agile capital policies and improving capital efficiency in response to changes in the business environment. The share repurchase program will run until September 30, 2022. As of March 31, 2022, the company had 21,136,490 shares outstanding (excluding treasury shares) and 2,193,285 shares in treasury.