Announcement • Jun 03
Ai Holdings Corporation to Report Fiscal Year 2026 Results on Aug 19, 2026 Ai Holdings Corporation announced that they will report fiscal year 2026 results on Aug 19, 2026 Reported Earnings • May 20
Third quarter 2026 earnings released: EPS: JP¥65.00 (vs JP¥50.30 in 3Q 2025) Third quarter 2026 results: EPS: JP¥65.00 (up from JP¥50.30 in 3Q 2025). Revenue: JP¥24.0b (up 31% from 3Q 2025). Net income: JP¥3.46b (up 29% from 3Q 2025). Profit margin: 14% (in line with 3Q 2025). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 08
First half dividend of JP¥55.00 announced Dividend of JP¥55.00 is the same as last year. Ex-date: 29th June 2026 Payment date: 29th September 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 42% over the next 3 years. However, it would need to fall by 75% to increase the payout ratio to a potentially unsustainable range. Announcement • Feb 17
Ai Holdings Corporation Announces Changes to Dividend Policy Ai Holdings Corporation hereby announced that at the Board of Directors Meeting held on February 16, 2026, the Company resolved to change the dividend policy. Reasons for the Changes The Company has positioned both the enhancement of equity capital and the distribution of profits to shareholders as top management priorities. The basic policy has been to ensure continuous and stable dividends while securing the internal reserves necessary to strengthen management foundation. To further clarify commitment to returning profits to shareholders, they have decided to establish a DOE (Dividend on Equity) standard in addition to the conventional dividend payout ratio. (Before the Changes) The Company aims to meet the expectations of shareholders regarding dividends by comprehensively considering performance and dividend payout ratios. The Company's basic policy is to distribute surplus funds twice a year, through interim and year-end dividends. The decision-making body for these distributions is the General Meeting of Shareholders for year-end dividends and the Board of Directors for interim dividends. The Company has a policy of distributing profits based on a dividend payout ratio of at least 50%, taking into account the overall financial condition and profit levels. As for retained earnings, they intend to allocate them to investments that promote proactive business development and further strengthen the corporate structure to ensure shareholder benefits in the future. (After the Changes) The Company recognizes dividend policy as one of the Company's key management priorities. After considering dialogue with shareholders and investors, the performance and financial status of the Company's Group, and the future business environment, the Company have decided to set a new policy of distributing dividends based on whichever amount is greater of DOE (the ratio of annual dividends to shareholders' equity) at 6% or a dividend payout ratio of 50%. Regarding retained earnings, they intend to allocate funds to investments that promote proactive business development and further strengthen the corporate structure to ensure future shareholder benefits. Effective Date of Changes: This will be applied from the year-end dividend for the fiscal year ending June 2026. Reported Earnings • Feb 17
Second quarter 2026 earnings released: EPS: JP¥38.88 (vs JP¥81.20 in 2Q 2025) Second quarter 2026 results: EPS: JP¥38.88 (down from JP¥81.20 in 2Q 2025). Revenue: JP¥20.5b (down 2.8% from 2Q 2025). Net income: JP¥2.07b (down 52% from 2Q 2025). Profit margin: 10% (down from 21% in 2Q 2025). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% 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 • Dec 22
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Dec 02
Ai Holdings Corporation to Report Q2, 2026 Results on Feb 16, 2026 Ai Holdings Corporation announced that they will report Q2, 2026 results on Feb 16, 2026 New Risk • Nov 18
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: 20% Last year net profit margin: 49% 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: Major Risk Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (149% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (20% net profit margin). Declared Dividend • Oct 05
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 4.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (149% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 75% over the next 3 years. However, it would need to fall by 77% to increase the payout ratio to a potentially unsustainable range. Announcement • Sep 02
Ai Holdings Corporation to Report Q1, 2026 Results on Nov 14, 2025 Ai Holdings Corporation announced that they will report Q1, 2026 results on Nov 14, 2025 New Risk • Aug 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% 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 Risks Earnings are forecast to decline by an average of 48% per year for the foreseeable future. High level of non-cash earnings (31% accrual ratio). Minor Risk Dividend is not well covered by cash flows (149% cash payout ratio). Reported Earnings • Aug 21
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥407 (up from JP¥331 in FY 2024). Revenue: JP¥66.2b (up 33% from FY 2024). Net income: JP¥21.3b (up 36% from FY 2024). Profit margin: 32% (in line with FY 2024). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 8.1%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jul 30
SYB Association,BJ Consortium,Ai Holdings Corporation (TSE:3076),Prime Stone No. 1 Fund,MJPE Investment Fund No. 1, Prot No.1 Fund and Mirae Asset Global Discovery Fund - Mirae Asset Korea New Growth Equity Fund completed the acquisition of 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960). An undisclosed buyer agreed to acquire 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960) for KRW 18.01 billion on July 14, 2025. A cash consideration of KRW 18.01 billion will be paid by the buyer. As part of consideration, KRW 18.01 billion is paid towards common equity of Alphanox Co.,Ltd.
The expected completion of the transaction is July 28, 2025. The expected completion of the transaction is changed to July 29, 2025.
SYB Association,BJ Consortium,Ai Holdings Corporation (TSE:3076),Prime Stone No. 1 Fund,MJPE Investment Fund No. 1, Prot No.1 Fund and Mirae Asset Global Discovery Fund - Mirae Asset Korea New Growth Equity Fund completed the acquisition of 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960) Upcoming Dividend • Jun 20
Upcoming dividend of JP¥55.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 30 September 2025. Payout ratio is a comfortable 13% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.9%). Announcement • Jun 03
Ai Holdings Corporation to Report Fiscal Year 2025 Results on Aug 19, 2025 Ai Holdings Corporation announced that they will report fiscal year 2025 results on Aug 19, 2025 Declared Dividend • May 14
First half dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 27th June 2025 Payment date: 30th September 2025 Dividend yield will be 4.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (140% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 84% over the next 3 years. Since a fall of 77% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Board Change • May 14
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Kazuo Takahashi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 04
Ai Holdings Corporation (TSE:3076) completed the acquisition of additional 77.4% stake in Nakayo, Inc. (TSE:6715) from Ic Co., Ltd. (TSE:4769) and others for ¥8.8 billion. Ai Holdings Corporation (TSE:3076) proposed to acquire additional 92.07% stake in Nakayo, Inc. (TSE:6715) from Ic Co., Ltd. (TSE:4769) and others for ¥11.4 billion on February 17, 2025. A cash consideration valued at ¥2550 per share will be paid by Ai Holdings Corporation. Nakayo, Inc. announce that at the board of directors meeting resolved to express an opinion in support of the tender offer for our common shares by Ai Holdings Corporation (hereinafter referred to as the "Tender Offeror") and to recommend that our shareholders tender their shares in the tender offer. The resolution of the board of directors was made on the assumption that the Tender Offeror intends to make our company a wholly owned subsidiary through the Tender Offer and a series of subsequent procedures, and that our shares are scheduled to be delisted. The date of announcement of commencement of tender offer will be on February 17, 2025. The Offer period will close on April 2, 2025. The minimum number of shares to be purchased is 2,610,700 shares and the maximum number of shares to be purchased will be 4,103,686. The Settlement start date is April 9, 2025.
Daiwa Securities Co., Ltd. acted as as a financial advisor and Nagoya & Yamamoto Law Firm as a legal advisor for Ai Holdings Corporation (TSE:3076). Deloitte Tohmatsu Financial Advisory LLC as a financial advisor and Kitahama Partners as a legal advisor for Nakayo, Inc.
Ai Holdings Corporation (TSE:3076) completed the acquisition of additional 77.4% stake in Nakayo, Inc. (TSE:6715) from Ic Co., Ltd. (TSE:4769) and others for ¥8.8 billion on April 2, 2025. Announcement • Mar 05
Ai Holdings Corporation to Report Q3, 2025 Results on May 14, 2025 Ai Holdings Corporation announced that they will report Q3, 2025 results on May 14, 2025 Announcement • Feb 27
Ai Holdings Corporation (TSE:3076) proposed to acquire Nakayo, Inc. (TSE:6715) from Ic Co., Ltd. (TSE:4769) and others for ¥11.4 billion. Ai Holdings Corporation (TSE:3076) proposed to acquire 92.06% stake in Nakayo, Inc. (TSE:6715) from Ic Co., Ltd. (TSE:4769) and others for ¥11.4 billion on February 17, 2025. A cash consideration valued at ¥2550 per share will be paid by Ai Holdings Corporation. Nakayo, Inc. announce that at the board of directors meeting resolved to express an opinion in support of the tender offer for our common shares by Ai Holdings Corporation (hereinafter referred to as the "Tender Offeror") and to recommend that our shareholders tender their shares in the tender offer. The resolution of the board of directors was made on the assumption that the Tender Offeror intends to make our company a wholly owned subsidiary through the Tender Offer and a series of subsequent procedures, and that our shares are scheduled to be delisted. The date of announcement of commencement of tender offer will be on February 17, 2025. The Offer period will close on April 2, 2025. The minimum number of shares to be purchased is 2,610,700 shares and the maximum number of shares to be purchased will be 4,103,686. The Settlement start date is April 9, 2025.
Daiwa Securities Co., Ltd. acted as as a financial advisor and Nagoya & Yamamoto Law Firm as a legal advisor for Ai Holdings Corporation (TSE:3076). Deloitte Tohmatsu Financial Advisory LLC as a financial advisor and Kitahama Partners as a legal advisor for Nakayo, Inc. New Risk • Feb 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 36% 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 Risks Earnings are forecast to decline by an average of 43% per year for the foreseeable future. High level of non-cash earnings (36% accrual ratio). Minor Risk Dividend is not well covered by cash flows (140% cash payout ratio). Buy Or Sell Opportunity • Feb 18
Now 21% overvalued Over the last 90 days, the stock has fallen 5.6% to JP¥2,041. The fair value is estimated to be JP¥1,680, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to decline by 60% in the next 2 years. Reported Earnings • Feb 17
Second quarter 2025 earnings released: EPS: JP¥81.20 (vs JP¥156 in 2Q 2024) Second quarter 2025 results: EPS: JP¥81.20 (down from JP¥156 in 2Q 2024). Revenue: JP¥21.1b (up 65% from 2Q 2024). Net income: JP¥4.33b (down 42% from 2Q 2024). Profit margin: 21% (down from 58% in 2Q 2024). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Ai Holdings Corporation Provides Special Dividend Guidance for the Fiscal Year Ending June 30, 2025 Ai Holdings Corporation announced that at the Board of Directors' Meeting held on February 14, 2025, it resolved to revise the forecast for dividends per share for the fiscal year ending June
30, 2025, the company expected special dividend of JPY 10 per share. The Company plans to submit this proposal at the 19th Annual General Meeting of Shareholders scheduled for September 2025. New Risk • Jan 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 46% 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. Large one-off items impacting financial results. Shareholders have been diluted in the past year (12% increase in shares outstanding). Upcoming Dividend • Dec 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 06 March 2025. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Announcement • Nov 30
Ai Holdings Corporation to Report Q2, 2025 Results on Feb 14, 2025 Ai Holdings Corporation announced that they will report Q2, 2025 results on Feb 14, 2025 Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥69.0b to JP¥67.8b. EPS estimate also fell from JP¥350 per share to JP¥314 per share. Net income forecast to grow 5.4% next year vs 14% growth forecast for Electronic industry in Japan. Consensus price target of JP¥2,700 unchanged from last update. Share price fell 7.0% to JP¥2,162 over the past week. Board Change • Nov 14
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Kazuo Takahashi was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Declared Dividend • Oct 10
Final dividend of JP¥45.00 announced Dividend of JP¥45.00 is the same as last year. Ex-date: 27th December 2024 Payment date: 6th March 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 52% over the next 3 years. However, it would need to fall by 70% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Oct 03
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: JP¥331 (up from JP¥174 in FY 2023). Revenue: JP¥49.8b (up 7.4% from FY 2023). Net income: JP¥15.7b (up 90% from FY 2023). Profit margin: 32% (up from 18% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Sep 24
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 21% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Aug 29
Ai Holdings Corporation to Report Q1, 2025 Results on Nov 14, 2024 Ai Holdings Corporation announced that they will report Q1, 2025 results on Nov 14, 2024 Reported Earnings • Aug 21
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: JP¥331 (up from JP¥174 in FY 2023). Revenue: JP¥49.8b (up 7.4% from FY 2023). Net income: JP¥15.7b (up 90% from FY 2023). Profit margin: 32% (up from 18% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Aug 19
Ai Holdings Corporation, Annual General Meeting, Sep 27, 2024 Ai Holdings Corporation, Annual General Meeting, Sep 27, 2024. Buy Or Sell Opportunity • Aug 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to JP¥2,325. The fair value is estimated to be JP¥2,965, 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 29%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to decline by 30% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥2,115, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 14% over the past three years. Buy Or Sell Opportunity • Aug 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to JP¥2,288. The fair value is estimated to be JP¥2,983, 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 29%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to decline by 30% in the next 2 years. Price Target Changed • Jun 15
Price target increased by 8.4% to JP¥3,000 Up from JP¥2,767, the current price target is provided by 1 analyst. New target price is 26% above last closing price of JP¥2,380. Stock is up 0.9% over the past year. The company is forecast to post earnings per share of JP¥329 for next year compared to JP¥174 last year. Announcement • Jun 06
Ai Holdings Corporation to Report Fiscal Year 2024 Results on Aug 19, 2024 Ai Holdings Corporation announced that they will report fiscal year 2024 results on Aug 19, 2024 Reported Earnings • May 20
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥42.67 (up from JP¥41.55 in 3Q 2023). Revenue: JP¥13.0b (up 3.5% from 3Q 2023). Net income: JP¥2.02b (up 2.7% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 9.2%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 18
Ai Holdings Corporation (TSE:3076) agreed to acquire an unknown stake in Meeq Co., Ltd. Ai Holdings Corporation (TSE:3076) agreed to acquire an unknown stake in Meeq Co., Ltd. on May 16, 2024. Announcement • May 16
Ai Holdings Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending June 30, 2024 Ai Holdings Corporation revised consolidated earnings guidance for the Fiscal Year Ending June 30, 2024. For the period, the company expects net sales of JPY 53,000 million, operating profit of JPY 10,700 million, profit attributable to owners of parent of JPY 15,600 million and earnings per share of JPY 329.39. Announcement • Mar 02
Ai Holdings Corporation to Report Q3, 2024 Results on May 15, 2024 Ai Holdings Corporation announced that they will report Q3, 2024 results on May 15, 2024 Reported Earnings • Feb 16
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: JP¥156 (up from JP¥37.84 in 2Q 2023). Revenue: JP¥12.8b (up 2.1% from 2Q 2023). Net income: JP¥7.40b (up 313% from 2Q 2023). Profit margin: 58% (up from 14% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 131%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic 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 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 28
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥3,003, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 2.4% per annum over the same time period. Announcement • Dec 24
Ai Holdings Corporation to Report Q2, 2024 Results on Feb 14, 2024 Ai Holdings Corporation announced that they will report Q2, 2024 results on Feb 14, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥45.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 06 March 2024. Payout ratio is a comfortable 47% and the cash payout ratio is 87%. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%). Major Estimate Revision • Dec 20
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥172 to JP¥194. Revenue forecast steady at JP¥51.9b. Net income forecast to grow 14% next year vs 8.6% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥2,767 to JP¥2,633. Share price was steady at JP¥2,354 over the past week. Reported Earnings • Nov 18
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: JP¥37.99 (down from JP¥42.88 in 1Q 2023). Revenue: JP¥12.0b (up 11% from 1Q 2023). Net income: JP¥1.80b (down 11% from 1Q 2023). Profit margin: 15% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 15
Ai Holdings Corporation Provides Year End Dividend Guidance for the Fiscal Year Ending June 30, 2024 Ai Holdings Corporation provided year end dividend guidance of JPY 45.00 per share for the fiscal year ending June 30, 2024 compared to JPY 45.00 per share a year ago. Announcement • Sep 13
Ai Holdings Corporation to Report Q1, 2024 Results on Nov 14, 2023 Ai Holdings Corporation announced that they will report Q1, 2024 results on Nov 14, 2023 Buying Opportunity • Sep 08
Now 21% undervalued Over the last 90 days, the stock is up 6.7%. The fair value is estimated to be JP¥3,117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 2.9% per annum over the same time period. Price Target Changed • Aug 22
Price target decreased by 7.6% to JP¥2,633 Down from JP¥2,850, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of JP¥2,404. Stock is up 30% over the past year. The company is forecast to post earnings per share of JP¥165 for next year compared to JP¥174 last year. Reported Earnings • Aug 20
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥174 (up from JP¥163 in FY 2022). Revenue: JP¥46.4b (down 1.4% from FY 2022). Net income: JP¥8.24b (up 6.5% from FY 2022). Profit margin: 18% (up from 16% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) exceeded analyst estimates by 6.5%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 20
Ai Holdings Corporation, Annual General Meeting, Sep 27, 2023 Ai Holdings Corporation, Annual General Meeting, Sep 27, 2023. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥40.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 02 October 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Announcement • Jun 03
Ai Holdings Corporation to Report Fiscal Year 2023 Results on Aug 18, 2023 Ai Holdings Corporation announced that they will report fiscal year 2023 results on Aug 18, 2023 Reported Earnings • May 17
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥41.55 (down from JP¥42.74 in 3Q 2022). Revenue: JP¥12.5b (up 3.2% from 3Q 2022). Net income: JP¥1.97b (down 2.8% from 3Q 2022). Profit margin: 16% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Feb 18
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: JP¥37.84 (down from JP¥38.07 in 2Q 2022). Revenue: JP¥12.5b (up 9.3% from 2Q 2022). Net income: JP¥1.79b (flat on 2Q 2022). Profit margin: 14% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.5%. 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. Buying Opportunity • Jan 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be JP¥2,593, 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 16%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings is also forecast to grow by 4.1% per annum over the same time period. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 07 March 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.8%). Announcement • Dec 04
Ai Holdings Corporation to Report Q2, 2023 Results on Feb 14, 2023 Ai Holdings Corporation announced that they will report Q2, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: EPS: JP¥42.88 (up from JP¥42.36 in 1Q 2022). Revenue: JP¥10.8b (down 6.1% from 1Q 2022). Net income: JP¥2.03b (up 1.2% from 1Q 2022). Profit margin: 19% (up from 17% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) exceeded analyst estimates by 4.6%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. President & Representative Director Yasutaka Arakawa was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: EPS: JP¥42.88 (up from JP¥42.36 in 1Q 2022). Revenue: JP¥10.8b (down 6.1% from 1Q 2022). Net income: JP¥2.03b (up 1.2% from 1Q 2022). Profit margin: 19% (up from 17% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) exceeded analyst estimates by 4.6%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 18
Ai Holdings Corporation to Report Q1, 2023 Results on Nov 15, 2022 Ai Holdings Corporation announced that they will report Q1, 2023 results on Nov 15, 2022 Price Target Changed • Sep 03
Price target increased to JP¥2,650 Up from JP¥1,850, the current price target is an average from 3 analysts. New target price is 25% above last closing price of JP¥2,121. Stock is down 8.8% over the past year. The company is forecast to post earnings per share of JP¥157 for next year compared to JP¥163 last year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,144, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Electronic industry in Japan. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,530 per share. Reported Earnings • Aug 21
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥163 (up from JP¥124 in FY 2021). Revenue: JP¥47.1b (up 1.8% from FY 2021). Net income: JP¥7.74b (up 32% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to stay flat compared to a 9.4% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Announcement • Jun 04
Ai Holdings Corporation to Report Fiscal Year 2022 Results on Aug 19, 2022 Ai Holdings Corporation announced that they will report fiscal year 2022 results on Aug 19, 2022 Reported Earnings • May 19
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥42.74 (up from JP¥38.26 in 3Q 2021). Revenue: JP¥12.1b (up 3.0% from 3Q 2021). Net income: JP¥2.02b (up 12% from 3Q 2021). Profit margin: 17% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Over the next year, revenue is forecast to grow 2.8%, compared to a 8.1% growth forecast for the 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 fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. President & Representative Director Yasutaka Arakawa was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.