Reported Earnings • May 09
Full year 2026 earnings released: EPS: JP¥68.70 (vs JP¥62.80 in FY 2025) Full year 2026 results: EPS: JP¥68.70 (up from JP¥62.80 in FY 2025). Revenue: JP¥79.0b (flat on FY 2025). Net income: JP¥4.38b (up 7.1% from FY 2025). Profit margin: 5.5% (up from 5.2% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Announcement • May 09
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 220,000 shares, representing 0.35% for ¥200 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 220,000 shares, representing 0.35% of its issued share capital, for ¥200 million. The purpose of the program is to respond to changes in the business environment and to distribute earnings to shareholders. The program is valid till June 22, 2026 . As of March 31, 2026, there are 62,905,384 outstanding shares (excluding treasury stock) and 9,094,616 treasury shares. Buy Or Sell Opportunity • Apr 08
Now 20% overvalued Over the last 90 days, the stock has fallen 1.0% to JP¥1,236. The fair value is estimated to be JP¥1,027, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 69% and the cash payout ratio is 98%. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.1%). Buy Or Sell Opportunity • Mar 11
Now 20% overvalued Over the last 90 days, the stock has fallen 1.8% to JP¥1,230. The fair value is estimated to be JP¥1,023, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Feb 05
Third quarter 2026 earnings released Third quarter 2026 results: EPS: JP¥22.57. Revenue: JP¥18.9b (flat on 3Q 2025). Net income: JP¥1.44b (up 56% from 3Q 2025). Profit margin: 7.6% (up from 4.8% in 3Q 2025). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Announcement • Feb 03
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 430,000 shares, representing 0.68% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 430,000 shares, representing 0.68% of its issued share capital, for ¥500 million. The purpose of the program is to respond to changes in the business environment and to distribute earnings to shareholders. The program is valid till March 24, 2026. As of December 31, 2025, there are 63,306,984 outstanding shares (excluding treasury stock) and 8,693,016 treasury shares. Announcement • Dec 02
Riso Kagaku Corporation to Report Q3, 2026 Results on Feb 03, 2026 Riso Kagaku Corporation announced that they will report Q3, 2026 results on Feb 03, 2026 Declared Dividend • Nov 07
Dividend of JP¥50.00 announced Dividend of JP¥50.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 4.3%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: JP¥14.11 (vs JP¥0.64 in 2Q 2025) Second quarter 2026 results: EPS: JP¥14.11 (up from JP¥0.64 in 2Q 2025). Revenue: JP¥19.3b (up 3.3% from 2Q 2025). Net income: JP¥903.0m (up JP¥861.0m from 2Q 2025). Profit margin: 4.7% (up from 0.2% in 2Q 2025). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year. Announcement • Nov 05
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 470,000 shares, representing 0.74% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 470,000 shares, representing 0.74% of its issued share capital, for ¥500 million. The purpose of the program is to respond to changes in the business environment and to distribute earnings to shareholders. The program is valid till December 23, 2025. As of October 31, 2025, there are 63,710,784 outstanding shares (excluding treasury stock) and 8,289,216 treasury shares. Announcement • Sep 01
Riso Kagaku Corporation to Report Q2, 2026 Results on Nov 05, 2025 Riso Kagaku Corporation announced that they will report Q2, 2026 results on Nov 05, 2025 New Risk • Aug 02
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Dividend per share is over 5x cash flows per share. Dividend yield: 4.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Dividend per share is over 5x cash flows per share. Minor Risk Profit margins are more than 30% lower than last year (4.2% net profit margin). Board Change • Aug 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Executive Officer, CEO, President & Chairman Akira Hayama is the most experienced director on the board, commencing their role in 1999. Independent Outside Director Hidetoshi Watabe was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Jun 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥62.80 (down from JP¥72.73 in FY 2024). Revenue: JP¥78.7b (up 5.5% from FY 2024). Net income: JP¥4.09b (down 15% from FY 2024). Profit margin: 5.2% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 31
Riso Kagaku Corporation to Report Q1, 2026 Results on Jul 31, 2025 Riso Kagaku Corporation announced that they will report Q1, 2026 results at 9:00 AM, Tokyo Standard Time on Jul 31, 2025 Reported Earnings • May 11
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥62.80 (down from JP¥72.73 in FY 2024). Revenue: JP¥78.7b (up 5.5% from FY 2024). Net income: JP¥4.09b (down 15% from FY 2024). Profit margin: 5.2% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% 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 09
Riso Kagaku Corporation, Annual General Meeting, Jun 25, 2025 Riso Kagaku Corporation, Annual General Meeting, Jun 25, 2025. Buy Or Sell Opportunity • Apr 10
Now 23% overvalued Over the last 90 days, the stock has fallen 21% to JP¥1,148. The fair value is estimated to be JP¥931, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,041, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 4.8% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 44% but the company is paying out more than the cash it is generating. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 01
Riso Kagaku Corporation to Report Fiscal Year 2025 Results on May 09, 2025 Riso Kagaku Corporation announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: JP¥18.9b (up 4.4% from 3Q 2024). Net income: JP¥917.0m (down 5.7% from 3Q 2024). Profit margin: 4.8% (down from 5.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Tech 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 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 660,000 shares, representing 1.02% for ¥800 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 660,000 shares, representing 1.02% of its issued share capital, for ¥800 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment and to return profits to shareholders. The program is valid till March 24, 2025. As of January 1, 2025, there are 64,693,084 outstanding shares (excluding treasury stock) and 7,306,916 treasury shares. Announcement • Nov 30
Riso Kagaku Corporation to Report Q3, 2025 Results on Jan 31, 2025 Riso Kagaku Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 Buy Or Sell Opportunity • Nov 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to JP¥3,685. The fair value is estimated to be JP¥3,052, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 7.0% in 2 years. Earnings are forecast to grow by 3.3% in the next 2 years. Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥1.29 (vs JP¥24.64 in 2Q 2024) Second quarter 2025 results: EPS: JP¥1.29 (down from JP¥24.64 in 2Q 2024). Revenue: JP¥18.7b (up 3.7% from 2Q 2024). Net income: JP¥42.0m (down 95% from 2Q 2024). Profit margin: 0.2% (down from 4.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Tech 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 19% per year. Board Change • Oct 30
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Hidetoshi Watabe was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 07
Riso Kagaku Corporation Revises Consolidated Earnings Guidance for the First Half Ending September 30, 2024 Riso Kagaku Corporation revised consolidated earnings guidance for the first half ending September 30, 2024. For the year, the company expects Net income per share to be JPY 58.04 compared to previous guidance of JPY 58.02 yen. Net sales to be JPY 38,200 million compared to previous guidance of JPY 37,200 million. Operating income to be JPY 2,900 million compared to previous guidance of JPY 2,200 million. Profit attributable to owners of parent to be JPY 1,900 million. Reasons for revision: Net sales and operating income are expected to exceed the previous forecasts in the first half of the consolidated fiscal year. Sales in the printing equipment business were generally in line with plans, but the Company's analysis indicates that the impact of exchange rates on net sales and operating income was greater than previously forecasted. Interim net income per share is calculated based on the number of treasury shares at the end of August 2024, as the Company is currently acquiring treasury shares. Announcement • Aug 28
Riso Kagaku Corporation to Report Q2, 2025 Results on Nov 01, 2024 Riso Kagaku Corporation announced that they will report Q2, 2025 results on Nov 01, 2024 Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: JP¥53.04 (vs JP¥31.38 in 1Q 2024) First quarter 2025 results: EPS: JP¥53.04 (up from JP¥31.38 in 1Q 2024). Revenue: JP¥19.4b (up 16% from 1Q 2024). Net income: JP¥1.74b (up 66% from 1Q 2024). Profit margin: 8.9% (up from 6.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Jul 31
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 6.1% 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: Major Risk Earnings are forecast to decline by an average of 1.2% 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. Share price has been volatile over the past 3 months (6.1% average weekly change). Announcement • Jul 30
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 200,000 shares, representing 0.61% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.61% of its total shares outstanding (excluding treasury shares), for a total of ¥500 million. The purpose of repurchase program is to implement a flexible capital policy in response to changes in the business environment and to return profits to shareholders. The repurchase program is valid till October 18, 2024. As of June 30, 2024, the company had 32,693,062 shares outstanding (excluding treasury shares) and had 3,306,938 shares in treasury. Announcement • Jun 28
Riso Kagaku Corporation to Report Q1, 2025 Results on Jul 30, 2024 Riso Kagaku Corporation announced that they will report Q1, 2025 results on Jul 30, 2024 New Risk • Jun 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% 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 1.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥145 (up from JP¥138 in FY 2023). Revenue: JP¥74.6b (flat on FY 2023). Net income: JP¥4.83b (up 4.5% from FY 2023). Profit margin: 6.5% (up from 6.2% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 10
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 200,000 shares, representing 0.61% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.61% of its total shares outstanding (excluding treasury shares), for a total of ¥500 million. The purpose of repurchase program is to implement a flexible capital policy in response to changes in the business environment and to return profits to shareholders. The repurchase program is valid till June 21, 2024. As of March 31, 2024, the company had 32,849,602 shares outstanding (excluding treasury shares) and had 3,150,398 shares in treasury. Announcement • Apr 27
Riso Kagaku Corporation, Annual General Meeting, Jun 25, 2024 Riso Kagaku Corporation, Annual General Meeting, Jun 25, 2024. Buy Or Sell Opportunity • Apr 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.3% to JP¥2,895. The fair value is estimated to be JP¥2,383, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to grow by 5.3% in the next 2 years. Buy Or Sell Opportunity • Apr 22
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to JP¥2,937. The fair value is estimated to be JP¥2,392, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to grow by 5.3% in the next 2 years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.5%). Announcement • Mar 02
Riso Kagaku Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Riso Kagaku Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Announcement • Feb 05
Riso Kagaku Corporation Provides Dividend Guidance for the Year Ending March 31, 2024 Riso Kagaku Corporation provided dividend guidance for the year ending March 31, 2024 of ¥100.00 per share against ¥120.00 per share a year ago. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥29.32 (vs JP¥24.91 in 3Q 2023) Third quarter 2024 results: EPS: JP¥29.32 (up from JP¥24.91 in 3Q 2023). Revenue: JP¥18.1b (up 1.2% from 3Q 2023). Net income: JP¥972.0m (up 16% from 3Q 2023). Profit margin: 5.4% (up from 4.7% in 3Q 2023). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Tech 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 27% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 200,000 shares, representing 0.61% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 0.61% of its total shares outstanding (excluding treasury shares), for a total of ¥500 million. The purpose of repurchase program is to implement a flexible capital policy in response to changes in the business environment and to return profits to shareholders. The repurchase program is valid till March 22, 2024. As of December 31, 2023, the company had 33,018,702 shares outstanding (excluding treasury shares) and had 2,981,298 shares in treasury. Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥24.64 (vs JP¥24.52 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.64. Revenue: JP¥18.1b (up 1.5% from 2Q 2023). Net income: JP¥822.0m (flat on 2Q 2023). Profit margin: 4.6% (in line with 2Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Tech industry in Japan. Announcement • Nov 03
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 250,000 shares, representing 0.75% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 0.75% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment and to return profits to shareholders. The program will continue through January 26, 2024. As of September 30, 2023, the company had 33,257,602 issued shares (excluding treasury stock) and 2,742,398 treasury shares. Announcement • Oct 15
Riso Kagaku Corporation to Report Q2, 2024 Results on Nov 02, 2023 Riso Kagaku Corporation announced that they will report Q2, 2024 results on Nov 02, 2023 Announcement • Aug 27
Riso Kagaku Corporation to Report Q3, 2024 Results on Jan 30, 2024 Riso Kagaku Corporation announced that they will report Q3, 2024 results on Jan 30, 2024 Announcement • Aug 02
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 250,000 shares, representing 0.75% for ¥500 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 0.75% of its issued share capital (excluding treasury stock), for a total purchase price of ¥500 million. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment and to return profits to shareholders. The program will continue through October 27, 2023. As of June 30, 2023, the company had 33,401,602 issued shares (excluding treasury stock) and 2,598,398 treasury shares. Reported Earnings • Aug 02
First quarter 2024 earnings released: EPS: JP¥31.38 (vs JP¥34.91 in 1Q 2023) First quarter 2024 results: EPS: JP¥31.38 (down from JP¥34.91 in 1Q 2023). Revenue: JP¥16.8b (down 2.7% from 1Q 2023). Net income: JP¥1.05b (down 11% from 1Q 2023). Profit margin: 6.2% (down from 6.8% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • May 28
Riso Kagaku Corporation to Report Q1, 2024 Results on Aug 01, 2023 Riso Kagaku Corporation announced that they will report Q1, 2024 results on Aug 01, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥138 (up from JP¥105 in FY 2022). Revenue: JP¥74.7b (up 7.7% from FY 2022). Net income: JP¥4.62b (up 29% from FY 2022). Profit margin: 6.2% (up from 5.2% in FY 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 9.9%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share at 4.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.1%). Announcement • Feb 01
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 160,000 shares, representing 0.48% for ¥300 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 160,000 shares, representing 0.48% of its issued share capital (excluding treasury stock), for a total purchase price of ¥300 million. The purpose of the program is to implement a flexible capital policy that responds to changes in the business environment and to return profits to shareholders. The program will continue through March 24, 2023. As of December 31, 2022, the company had 33,524,696 issued shares (excluding treasury stock) and 6,475,304 treasury shares. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥24.91 (vs JP¥22.41 in 3Q 2022) Third quarter 2023 results: EPS: JP¥24.91 (up from JP¥22.41 in 3Q 2022). Revenue: JP¥17.9b (up 7.7% from 3Q 2022). Net income: JP¥835.0m (up 10% from 3Q 2022). Profit margin: 4.7% (up from 4.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 67% 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 30
Riso Kagaku Corporation to Report Q3, 2023 Results on Jan 31, 2023 Riso Kagaku Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 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 Kaeko Gondo was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Second quarter 2023 earnings released: EPS: JP¥24.52 (vs JP¥8.55 in 2Q 2022) Second quarter 2023 results: EPS: JP¥24.52 (up from JP¥8.55 in 2Q 2022). Revenue: JP¥17.8b (up 14% from 2Q 2022). Net income: JP¥824.0m (up 183% from 2Q 2022). Profit margin: 4.6% (up from 1.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Oct 05
Riso Kagaku Corporation to Report Q2, 2023 Results on Nov 02, 2022 Riso Kagaku Corporation announced that they will report Q2, 2023 results on Nov 02, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥34.91 (vs JP¥29.40 in 1Q 2022) First quarter 2023 results: EPS: JP¥34.91 (up from JP¥29.40 in 1Q 2022). Revenue: JP¥17.3b (up 3.6% from 1Q 2022). Net income: JP¥1.18b (up 16% from 1Q 2022). Profit margin: 6.8% (up from 6.1% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.3%, 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 41% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jul 30
Riso Kagaku Corporation (TSE:6413) announces an Equity Buyback for 150,000 shares, representing 0.45% for ¥300 million. Riso Kagaku Corporation (TSE:6413) announces a share repurchase program. Under the program, the company will repurchase up to 150,000 shares, representing 0.45% of its issued share capital (excluding treasury stock), for a total purchase price of ¥300 million. The purpose of the program is to implement agile capital policies in response to changes in the business environment and return profits to shareholders. The program will continue through September 22, 2022. As of June 30, 2022, the company had 33,646,931 issued shares (excluding treasury stock) and 6,353,069 treasury shares. Announcement • Jun 29
Riso Kagaku Corporation to Report Q1, 2023 Results on Jul 29, 2022 Riso Kagaku Corporation announced that they will report Q1, 2023 results on Jul 29, 2022 Reported Earnings • May 17
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥105 (up from JP¥47.57 in FY 2021). Revenue: JP¥69.3b (up 1.3% from FY 2021). Net income: JP¥3.58b (up 117% from FY 2021). Profit margin: 5.2% (up from 2.4% 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 18%. Over the next year, revenue is forecast to grow 2.4%, compared to a 5.8% growth forecast for the 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 8% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 11
Now 20% undervalued Over the last 90 days, the stock is up 3.2%. The fair value is estimated to be JP¥2,953, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 3.8% in 2 years. Earnings is forecast to decline by 13% in the next 2 years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Outside Director Toshiaki Yatabe was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 20
Riso Kagaku Corporation, Annual General Meeting, Jun 24, 2022 Riso Kagaku Corporation, Annual General Meeting, Jun 24, 2022.