Reported Earnings • May 06
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥72.93 (up from JP¥63.45 in FY 2025). Revenue: JP¥135.2b (up 7.4% from FY 2025). Net income: JP¥11.6b (up 9.5% from FY 2025). Profit margin: 8.6% (up from 8.4% 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 1.4%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT 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 7% per year, which means it is significantly lagging earnings growth. Announcement • May 02
DTS Corporation, Annual General Meeting, Jun 23, 2026 DTS Corporation, Annual General Meeting, Jun 23, 2026. Buy Or Sell Opportunity • Apr 29
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to JP¥1,049. The fair value is estimated to be JP¥872, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 4.4% per annum over the same time period. Announcement • Apr 22
DTS Corporation to Report Fiscal Year 2026 Results on May 01, 2026 DTS Corporation announced that they will report fiscal year 2026 results on May 01, 2026 Buy Or Sell Opportunity • Mar 24
Now 22% overvalued Over the last 90 days, the stock has fallen 14% to JP¥1,053. The fair value is estimated to be JP¥862, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings are also forecast to grow by 4.4% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥19.22 (vs JP¥16.42 in 3Q 2025) Third quarter 2026 results: EPS: JP¥19.22 (up from JP¥16.42 in 3Q 2025). Revenue: JP¥31.4b (flat on 3Q 2025). Net income: JP¥3.06b (up 12% from 3Q 2025). Profit margin: 9.7% (in line with 3Q 2025). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Declared Dividend • Nov 22
First half dividend of JP¥20.00 announced Shareholders will receive a dividend of JP¥20.00. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 6.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 23% over the next 3 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 07
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: JP¥34.0b (up 9.9% from 2Q 2025). Net income: JP¥2.77b (up 15% from 2Q 2025). Profit margin: 8.1% (up from 7.8% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the IT industry in Japan. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 21 November 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: JP¥67.15 (vs JP¥47.76 in 1Q 2025) First quarter 2026 results: EPS: JP¥67.15 (up from JP¥47.76 in 1Q 2025). Revenue: JP¥32.9b (up 14% from 1Q 2025). Net income: JP¥2.70b (up 32% from 1Q 2025). Profit margin: 8.2% (up from 7.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the IT 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 13% per year. Announcement • Aug 04
DTS Corporation Provides Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2026 DTS Corporation provided Consolidated earnings forecasts for the fiscal year ending March 31, 2026. For the period, the company expected Net sales of JPY 135,000 million, Operating profit of JPY 15,500 million, Profit attributable to owners of parent of JPY 10,900 million and Basic earnings per share of JPY 68.52. Board Change • Jul 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Audit and Supervisory Committee Member Yutaka Nakamura was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 29th September 2025 Payment date: 21st November 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥254 (up from JP¥169 in FY 2024). Revenue: JP¥125.9b (up 8.8% from FY 2024). Net income: JP¥10.6b (up 46% from FY 2024). Profit margin: 8.4% (up from 6.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.5%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the IT 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. Price Target Changed • Jun 23
Price target increased by 8.2% to JP¥5,283 Up from JP¥4,883, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥5,060. Stock is up 21% over the past year. The company is forecast to post earnings per share of JP¥276 for next year compared to JP¥254 last year. Announcement • Mar 28
DTS Corporation to Report Fiscal Year 2025 Results on May 01, 2025 DTS Corporation announced that they will report fiscal year 2025 results on May 01, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.4%). Announcement • Mar 06
DTS Corporation (TSE:9682) agreed to acquire Spice Factory, Inc. DTS Corporation (TSE:9682) agreed to acquire Spice Factory, Inc. on March 5, 2025. The expected completion of the transaction is March 19, 2025. Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: JP¥65.67 (vs JP¥57.06 in 3Q 2024) Third quarter 2025 results: EPS: JP¥65.67 (up from JP¥57.06 in 3Q 2024). Revenue: JP¥31.1b (up 12% from 3Q 2024). Net income: JP¥2.74b (up 11% from 3Q 2024). Profit margin: 8.8% (in line with 3Q 2024). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the IT 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 increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 03
DTS Corporation to Report Q3, 2025 Results on Feb 12, 2025 DTS Corporation announced that they will report Q3, 2025 results on Feb 12, 2025 Price Target Changed • Dec 20
Price target increased by 7.0% to JP¥4,833 Up from JP¥4,517, the current price target is an average from 3 analysts. New target price is 15% above last closing price of JP¥4,215. Stock is up 19% over the past year. The company is forecast to post earnings per share of JP¥227 for next year compared to JP¥169 last year. Price Target Changed • Nov 29
Price target increased by 7.7% to JP¥4,650 Up from JP¥4,317, the current price target is an average from 3 analysts. New target price is 12% above last closing price of JP¥4,160. Stock is up 18% over the past year. The company is forecast to post earnings per share of JP¥226 for next year compared to JP¥169 last year. Announcement • Nov 22
DTS Corporation (TSE:9682) announces an Equity Buyback for 1,600,000 shares, representing 3.82% for ¥5,000 million. DTS Corporation (TSE:9682) announces a share repurchase program. Under the program, the company will repurchase 1,600,000 shares, representing 3.82% of its share capital, for ¥5,000 million. The company will repurchase its shares in order to improve capital efficiency and further enhance shareholder returns. The repurchased shares will be cancelled. The program will run until March 21, 2025. As of October 31, 2024, the company had 41,844,516 shares outstanding (excluding treasury shares) and 2,309,616 shares in treasury. Declared Dividend • Nov 22
First half dividend of JP¥60.00 announced Shareholders will receive a dividend of JP¥60.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: JP¥57.04 (vs JP¥53.10 in 2Q 2024) Second quarter 2025 results: EPS: JP¥57.04 (up from JP¥53.10 in 2Q 2024). Revenue: JP¥31.0b (up 3.0% from 2Q 2024). Net income: JP¥2.42b (up 4.9% from 2Q 2024). Profit margin: 7.8% (up from 7.7% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 27
DTS Corporation to Report Q2, 2025 Results on Oct 29, 2024 DTS Corporation announced that they will report Q2, 2025 results on Oct 29, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 21 November 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 19
First quarter 2025 earnings released: EPS: JP¥47.76 (vs JP¥42.19 in 1Q 2024) First quarter 2025 results: EPS: JP¥47.76 (up from JP¥42.19 in 1Q 2024). Revenue: JP¥28.9b (up 8.2% from 1Q 2024). Net income: JP¥2.04b (up 11% from 1Q 2024). Profit margin: 7.1% (up from 6.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥3,515, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the IT industry in Japan. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,802 per share. Declared Dividend • Jul 11
Final dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 27th September 2024 Payment date: 21st November 2024 Dividend yield will be 2.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
DTS Corporation Announces Organizational Changes and Personnel Transfers, Effective July 1, 2024 DTS Corporation announced that it was resolved to make organizational changes and transfer personnel at the meeting of the Board of Directors held on June 25, 2024, as follows. Personnel Transfers: Changes to the Director (as of July 1, 2024): Isao Asami: former positions: Director and Managing Executive Officer, General Manager, Accounting and Finance, Department, General Manager, Global Business, Promotion Department. New Positions: Director and Managing Executive Officer, General Manager, Accounting and Finance, Department. New election to the Executive Officer (as of July 1, 2024): Kazumasa Taninaka: Senior Executive Officer, Head of New Business Group, General Manager, Global Business, Promotion Department. Announcement • May 31
DTS Corporation Approves Composition of the Special Investigation Committee Board of Directors of DTS Corporation at its meeting held on May 24, 2024, resolved to establish a Special Investigation Committee comprising an outside attorney and a certified public accountant with no special interests in the Company and the Company's Director who is an Audit and Supervisory Committee Member. Composition of the Special Investigation Committee: Chair: Hidetaka Miyake (Attorney-at-law, Anderson Mori & Tomotsune); Committee Member: Kenji Kawae (Certified Public Accountant, Representative Director & President, FYI Inc.); Committee Member: Takao Sakamoto (Director, Full-time Audit and Supervisory Committee Member, DTS CORPORATION). Announcement • May 18
DTS Corporation Announces Personnel Transfers, Effective from June 1, 2024 DTS CORPORATION ("DTS") hereby announces that it was resolved to transfer personnel at the meeting of the Board of Directors held on May 17, 2024, as follows.Changes to Directors (June 1, 2024): Isao Asami: Former Positions: Director and Managing Executive Officer, General Manager, Accounting and Finance Department. New Positions: Director and Managing Executive Officer, General Manager, Accounting and Finance Department General Manager, Global Business Promotion Department. Reported Earnings • May 01
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥205 (up from JP¥181 in FY 2023). Revenue: JP¥115.7b (up 9.0% from FY 2023). Net income: JP¥8.89b (up 11% from FY 2023). Profit margin: 7.7% (up from 7.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has increased by 8% 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 • Mar 28
DTS Corporation to Report Fiscal Year 2024 Results on Apr 26, 2024 DTS Corporation announced that they will report fiscal year 2024 results on Apr 26, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Price Target Changed • Mar 13
Price target increased by 7.9% to JP¥4,317 Up from JP¥4,000, the current price target is an average from 3 analysts. New target price is 6.2% above last closing price of JP¥4,065. Stock is up 27% over the past year. The company is forecast to post earnings per share of JP¥204 for next year compared to JP¥181 last year. Announcement • Feb 07
DTS Corporation (TSE:9682) agreed to acquire Tohoku Systems Support Co.,Ltd. DTS Corporation (TSE:9682) agreed to acquire Tohoku Systems Support Co.,Ltd. on February 1, 2024. Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: JP¥57.06 (vs JP¥48.47 in 3Q 2023) Third quarter 2024 results: EPS: JP¥57.06 (up from JP¥48.47 in 3Q 2023). Revenue: JP¥27.9b (up 9.1% from 3Q 2023). Net income: JP¥2.46b (up 17% from 3Q 2023). Profit margin: 8.8% (up from 8.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the IT 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 increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 02
DTS Corporation (TSE:9682) announces an Equity Buyback for 336,000 shares, representing 0.78% for ¥1,000 million. DTS Corporation (TSE:9682) announces a share repurchase program. Under the program, the company will repurchase 336,000 shares, representing 0.78% of its share capital, for ¥1,000 million. The company will repurchase its shares in order to improve the Company’s capital efficiency and delivering even greater returns for its shareholders. The repurchased shares will be cancelled. The program will run until March 15, 2024. As of December 31, 2023, the company had 43,154,632 shares outstanding (excluding treasury shares) and 3,956,500 shares in treasury. Announcement • Dec 28
DTS Corporation to Report Q3, 2024 Results on Feb 01, 2024 DTS Corporation announced that they will report Q3, 2024 results on Feb 01, 2024 Reported Earnings • Nov 01
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥53.10 (up from JP¥43.19 in 2Q 2023). Revenue: JP¥30.1b (up 19% from 2Q 2023). Net income: JP¥2.30b (up 20% from 2Q 2023). Profit margin: 7.7% (up from 7.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Announcement • Oct 31
DTS Corporation Announces Personnel Changes DTS Corporation announced that it was resolved to transfer personnel at the meeting of the Board of Directors held on October 30, 2023, as follows. Tsuyoshi Takahashi: Current Positions: General Manager, Sales Department, Digital Solution Sector. New Positions: General Manager, Sales Department, Public Systems and Social Infrastructure Sector. Yoshiaki Yamamoto: Current Positions: General Manager, Business Planning Department, Digital Solution Sector. New Positions: General Manager, Business Planning Department, Digital Solution Sector and General Manager, Sales Department, Digital Solution Sector. Announcement • Oct 06
DTS Corporation to Report Q2, 2024 Results on Oct 30, 2023 DTS Corporation announced that they will report Q2, 2024 results on Oct 30, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥45.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥42.19 (vs JP¥31.18 in 1Q 2023) First quarter 2024 results: EPS: JP¥42.19 (up from JP¥31.18 in 1Q 2023). Revenue: JP¥26.7b (up 8.5% from 1Q 2023). Net income: JP¥1.84b (up 31% from 1Q 2023). Profit margin: 6.9% (up from 5.7% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 28
DTS Corporation to Report Q1, 2024 Results on Jul 31, 2023 DTS Corporation announced that they will report Q1, 2024 results on Jul 31, 2023 Announcement • May 16
Dts Corporation Announces Notice Concerning Changes of Directors/Officers DTS CORPORATION announces that it has decided as follows at the meeting of the Board of Directors held on May 16, 2023 regarding candidates for Directors who are not Audit and Supervisory Committee Members and Directors who are Audit and Supervisory Committee Members to be submitted to the 51st Annual General Meeting of Shareholders, which is scheduled to be held on June 22, 2023. Personnel matters regarding officers are to be formally decided by resolution of the Annual General Meeting of Shareholders and the subsequent meeting of the Board of Directors. 1. Changes to Directors who are not Audit and Supervisory Committee Members (as of June 22, 2023) (1) Reason for changes All Directors who are not Audit and Supervisory Committee Members will reach the ends of their terms of office at the end of the 51st Annual General Meeting of Shareholders. (3) Retiring Directors who are not Audit and Supervisory Committee MembersName; Hirotoshi Kobayashi, Masayuki Hirata. Current Positions: Director, Managing Executive Officer, Outside Director respectively 2. Changes to Directors who are Audit and Supervisory Committee Members (as of June 22, 2023) (1) Reason for changes One (1) Director who is an Audit and Supervisory Committee Member will resign at the end of the 51st Annual General Meeting of Shareholders. (2) Candidate for Director who is an Audit and Supervisory Committee Member to be newly elected: Name: Nobuyasu Iimuro. New Positions: Outside Director Audit and Supervisory Committee Member. (3) Resigning Director who is an Audit and Supervisory Committee Member Name: Kenji Yukimoto. Current Positions: Outside Director Audit and Supervisory Committee Member. Reported Earnings • Apr 29
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥181 (up from JP¥173 in FY 2022). Revenue: JP¥106.1b (up 12% from FY 2022). Net income: JP¥8.00b (up 1.9% from FY 2022). Profit margin: 7.5% (down from 8.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the IT 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 16% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥70.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Feb 02
DTS Corporation Provides Commemorative Dividend Guidance for the Fiscal Year Ending March 31, 2023 DTS Corporation provided commemorative dividend guidance for the fiscal year ending March 31, 2023. For the year-end, the company expects to pay commemorative dividend of JPY 30.00 per share. Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥48.47 (vs JP¥43.26 in 3Q 2022) Third quarter 2023 results: EPS: JP¥48.47 (up from JP¥43.26 in 3Q 2022). Revenue: JP¥25.6b (up 10.0% from 3Q 2022). Net income: JP¥2.11b (up 7.5% from 3Q 2022). Profit margin: 8.3% (down from 8.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Announcement • Dec 04
DTS Corporation to Report Q3, 2023 Results on Feb 01, 2023 DTS Corporation announced that they will report Q3, 2023 results on Feb 01, 2023 Price Target Changed • Nov 16
Price target increased to JP¥4,233 Up from JP¥3,867, the current price target is an average from 3 analysts. New target price is 26% above last closing price of JP¥3,350. Stock is up 41% over the past year. The company is forecast to post earnings per share of JP¥188 for next year compared to JP¥173 last year. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥43.19 (vs JP¥40.93 in 2Q 2022) Second quarter 2023 results: EPS: JP¥43.19 (up from JP¥40.93 in 2Q 2022). Revenue: JP¥25.3b (up 13% from 2Q 2022). Net income: JP¥1.91b (up 2.8% from 2Q 2022). Profit margin: 7.6% (down from 8.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the IT industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Oct 07
Now 20% undervalued Over the last 90 days, the stock is up 7.2%. The fair value is estimated to be JP¥4,367, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.7%). Buying Opportunity • Sep 21
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be JP¥4,375, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Price Target Changed • Sep 15
Price target increased to JP¥4,233 Up from JP¥3,867, the current price target is an average from 3 analysts. New target price is 18% above last closing price of JP¥3,590. Stock is up 32% over the past year. The company is forecast to post earnings per share of JP¥188 for next year compared to JP¥173 last year. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥31.18 (vs JP¥30.35 in 1Q 2022) First quarter 2023 results: EPS: JP¥31.18 (up from JP¥30.35 in 1Q 2022). Revenue: JP¥24.6b (up 16% from 1Q 2022). Net income: JP¥1.40b (up 1.1% from 1Q 2022). Profit margin: 5.7% (down from 6.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.7%, compared to a 11% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 15
Price target increased to JP¥3,050 Up from JP¥2,775, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥3,020. Stock is up 12% over the past year. The company is forecast to post earnings per share of JP¥179 for next year compared to JP¥173 last year. Reported Earnings • Apr 30
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: JP¥173 (up from JP¥165 in FY 2021). Revenue: JP¥94.5b (up 4.4% from FY 2021). Net income: JP¥7.85b (up 3.4% from FY 2021). Profit margin: 8.3% (down from 8.4% in FY 2021). 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. Over the next year, revenue is forecast to grow 5.9%, compared to a 7.4% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent External Director Shinichi Yamada 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 June 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥43.26 (up from JP¥39.40 in 3Q 2021). Revenue: JP¥23.3b (up 10% from 3Q 2021). Net income: JP¥1.97b (up 8.9% from 3Q 2021). Profit margin: 8.4% (down from 8.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 5.9%, compared to a 7.5% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥40.93 (vs JP¥43.09 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥22.4b (down 5.1% from 2Q 2021). Net income: JP¥1.86b (down 5.8% from 2Q 2021). Profit margin: 8.3% (down from 8.4% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 24 November 2021. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.2%). Price Target Changed • Sep 01
Price target increased to JP¥2,800 Up from JP¥2,600, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of JP¥2,608. Stock is up 16% over the past year. Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥30.35 (vs JP¥28.07 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: JP¥21.2b (up 6.3% from 1Q 2021). Net income: JP¥1.39b (up 7.1% from 1Q 2021). Profit margin: 6.5% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year. Reported Earnings • May 01
Full year 2021 earnings released: EPS JP¥165 (vs JP¥158 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥90.5b (down 4.4% from FY 2020). Net income: JP¥7.59b (up 3.8% from FY 2020). Profit margin: 8.4% (up from 7.7% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 22 June 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.3%).