New Risk • May 13
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 7.3% 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 1.7% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Reported Earnings • May 13
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥276 (down from JP¥292 in FY 2025). Revenue: JP¥25.5b (flat on FY 2025). Net income: JP¥2.69b (down 14% from FY 2025). Profit margin: 11% (down from 12% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 3.9% p.a. on average during the next 2 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 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • May 12
SEMITEC Corporation, Annual General Meeting, Jun 26, 2026 SEMITEC Corporation, Annual General Meeting, Jun 26, 2026. Announcement • May 10
SEMITEC Corporation to Report Fiscal Year 2026 Results on May 12, 2026 SEMITEC Corporation announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥47.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 11 June 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥81.67 (vs JP¥67.63 in 3Q 2025) Third quarter 2026 results: EPS: JP¥81.67 (up from JP¥67.63 in 3Q 2025). Revenue: JP¥6.44b (up 2.0% from 3Q 2025). Net income: JP¥782.0m (up 6.1% from 3Q 2025). Profit margin: 12% (in line with 3Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic 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 remained flat, which means it is significantly lagging earnings. Announcement • Jan 08
SEMITEC Corporation to Report Q3, 2026 Results on Feb 10, 2026 SEMITEC Corporation announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: JP¥58.52 (vs JP¥75.95 in 2Q 2025) Second quarter 2026 results: EPS: JP¥58.52 (down from JP¥75.95 in 2Q 2025). Revenue: JP¥6.45b (flat on 2Q 2025). Net income: JP¥602.0m (down 25% from 2Q 2025). Profit margin: 9.3% (down from 13% in 2Q 2025). Revenue is forecast to grow 3.9% 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 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Sep 10
SEMITEC Corporation to Report Q2, 2026 Results on Nov 13, 2025 SEMITEC Corporation announced that they will report Q2, 2026 results on Nov 13, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥80.62 (vs JP¥73.94 in 1Q 2025) First quarter 2026 results: EPS: JP¥80.62 (up from JP¥73.94 in 1Q 2025). Revenue: JP¥6.25b (down 2.3% from 1Q 2025). Net income: JP¥856.0m (up 6.7% from 1Q 2025). Profit margin: 14% (up from 13% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 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 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 21
SEMITEC Corporation to Report Q1, 2026 Results on Aug 08, 2025 SEMITEC Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥292 (up from JP¥192 in FY 2024). Revenue: JP¥25.3b (up 12% from FY 2024). Net income: JP¥3.11b (up 45% from FY 2024). Profit margin: 12% (up from 9.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 13
SEMITEC Corporation, Annual General Meeting, Jun 25, 2025 SEMITEC Corporation, Annual General Meeting, Jun 25, 2025. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,810, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 18% over the past three years. Announcement • Apr 25
SEMITEC Corporation (TSE:6626) announces an Equity Buyback for 1,200,000 shares, representing 11.28% for ¥1,400 million. SEMITEC Corporation (TSE:6626) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 11.28% of its share capital, for ¥1,400 million. The purpose of the program is to respond to changes in the business environment and as part of its shareholder return policy. The program will expire on March 31, 2026. As of March 31, 2025, the company had 10,641,706 shares in issue (excluding treasury stock) and 729,894 shares in treasury. New Risk • Apr 08
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥14.0b (US$95.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,448, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 15% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 10.0% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.7%). Announcement • Mar 15
SEMITEC Corporation to Report Fiscal Year 2025 Results on May 13, 2025 SEMITEC Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥67.63 (vs JP¥57.04 in 3Q 2024) Third quarter 2025 results: EPS: JP¥67.63 (up from JP¥57.04 in 3Q 2024). Revenue: JP¥6.31b (up 11% from 3Q 2024). Net income: JP¥737.0m (up 16% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 6.4% 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 fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jan 03
SEMITEC Corporation to Report Q3, 2025 Results on Feb 14, 2025 SEMITEC Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 Announcement • Oct 08
SEMITEC Corporation to Report Q2, 2025 Results on Nov 14, 2024 SEMITEC Corporation announced that they will report Q2, 2025 results on Nov 14, 2024 Reported Earnings • Aug 19
First quarter 2025 earnings released: EPS: JP¥73.94 (vs JP¥26.03 in 1Q 2024) First quarter 2025 results: EPS: JP¥73.94 (up from JP¥26.03 in 1Q 2024). Revenue: JP¥6.39b (up 17% from 1Q 2024). Net income: JP¥802.0m (up 171% from 1Q 2024). Profit margin: 13% (up from 5.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% 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 fallen by 2% per year whereas the company’s share price has increased by 1% per year. Buy Or Sell Opportunity • Aug 05
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to JP¥1,689. The fair value is estimated to be JP¥2,249, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (9.5% net profit margin). Announcement • Jun 27
SEMITEC Corporation to Report Q1, 2025 Results on Aug 14, 2024 SEMITEC Corporation announced that they will report Q1, 2025 results on Aug 14, 2024 New Risk • May 19
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: 9.5% Last year net profit margin: 14% 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. This is currently the only risk that has been identified for the company. Announcement • May 17
SEMITEC Corporation, Annual General Meeting, Jun 26, 2024 SEMITEC Corporation, Annual General Meeting, Jun 26, 2024. Announcement • May 15
SEMITEC Corporation (TSE:6626) announces an Equity Buyback for 333,000 shares, representing 3.06% for ¥500 million. SEMITEC Corporation (TSE:6626) announces a share repurchase program. Under the program, the company will repurchase up to 333,000 shares, representing 3.06% of its share capital, for ¥500 million. The repurchases are made as part of shareholder returns. The program will expire on September 30, 2024. As of March 31, 2024, the company had 10,896,452 shares in issue (excluding treasury stock) and 475,148 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.4%). Announcement • Mar 17
SEMITEC Corporation to Report Fiscal Year 2024 Results on May 14, 2024 SEMITEC Corporation announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JP¥57.04 (vs JP¥57.79 in 3Q 2023) Third quarter 2024 results: EPS: JP¥57.04 (down from JP¥57.79 in 3Q 2023). Revenue: JP¥5.69b (down 4.7% from 3Q 2023). Net income: JP¥635.0m (down 3.3% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic 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 12% per year. Announcement • Dec 24
SEMITEC Corporation to Report Q3, 2024 Results on Feb 14, 2024 SEMITEC Corporation announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 20
Second quarter 2024 earnings released: EPS: JP¥65.44 (vs JP¥82.85 in 2Q 2023) Second quarter 2024 results: EPS: JP¥65.44 (down from JP¥82.85 in 2Q 2023). Revenue: JP¥5.81b (down 4.6% from 2Q 2023). Net income: JP¥744.0m (down 21% from 2Q 2023). Profit margin: 13% (down from 16% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.1% 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 21% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Nov 17
SEMITEC Corporation (TSE:6626) announces an Equity Buyback for 473,100 shares, representing 4.16% for ¥900 million. SEMITEC Corporation (TSE:6626) announces a share repurchase program. Under the program, the company will repurchase up to 473,100 shares, representing 4.16% of its share capital, for ¥900 million. The shares will be repurchased at a price of ¥1,902 per share. The purpose of the program is to carry out flexible capital policy in response to changes in the business environment. The program will expire on November 15, 2023. As of September 30, 2023, the company had 11,369,552 shares in issue (excluding treasury stock) and 2,048 shares in treasury. Announcement • Sep 24
SEMITEC Corporation to Report Q2, 2024 Results on Nov 14, 2023 SEMITEC Corporation announced that they will report Q2, 2024 results on Nov 14, 2023 Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: JP¥26.03 (vs JP¥84.96 in 1Q 2023) First quarter 2024 results: EPS: JP¥26.03 (down from JP¥84.96 in 1Q 2023). Revenue: JP¥5.49b (down 3.2% from 1Q 2023). Net income: JP¥296.0m (down 69% from 1Q 2023). Profit margin: 5.4% (down from 17% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 33% per year. Announcement • Jun 29
SEMITEC Corporation to Report Q1, 2024 Results on Aug 14, 2023 SEMITEC Corporation announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 15
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥1,111 (up from JP¥237 in FY 2022). Revenue: JP¥23.2b (up 10% from FY 2022). Net income: JP¥3.16b (up 17% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates significantly. Revenue is forecast to grow 7.5% p.a. on average during the next 2 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 74% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 29
Now 21% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be JP¥12,087, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to decline by 13% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 2.6% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.6%). Buying Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.1%. The fair value is estimated to be JP¥11,944, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to decline by 13% in the next 2 years. Buying Opportunity • Feb 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.0%. The fair value is estimated to be JP¥11,910, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to decline by 13% in the next 2 years. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: JP¥231 (vs JP¥179 in 3Q 2022) Third quarter 2023 results: EPS: JP¥231 (up from JP¥179 in 3Q 2022). Revenue: JP¥5.98b (up 12% from 3Q 2022). Net income: JP¥657.0m (up 29% from 3Q 2022). Profit margin: 11% (up from 9.5% in 3Q 2022). 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 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 53% per year. Announcement • Dec 24
SEMITEC Corporation to Report Q3, 2023 Results on Feb 13, 2023 SEMITEC Corporation announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥331 (vs JP¥244 in 2Q 2022) Second quarter 2023 results: EPS: JP¥331 (up from JP¥244 in 2Q 2022). Revenue: JP¥6.09b (up 20% from 2Q 2022). Net income: JP¥942.0m (up 36% from 2Q 2022). Profit margin: 16% (up from 14% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% 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 53% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Announcement • Sep 07
SEMITEC Corporation to Report Q2, 2023 Results on Nov 14, 2022 SEMITEC Corporation announced that they will report Q2, 2023 results on Nov 14, 2022 Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥8,240, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 217% over the past three years. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: JP¥340 (vs JP¥261 in 1Q 2022) First quarter 2023 results: EPS: JP¥340 (up from JP¥261 in 1Q 2022). Revenue: JP¥5.67b (up 9.0% from 1Q 2022). Net income: JP¥966.0m (up 30% from 1Q 2022). Profit margin: 17% (up from 14% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 9.6% growth forecast for the 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 38% per year, which means it is significantly lagging earnings growth. Announcement • Jun 25
SEMITEC Corporation to Report Q1, 2023 Results on Aug 12, 2022 SEMITEC Corporation announced that they will report Q1, 2023 results on Aug 12, 2022 Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥7,230, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 119% over the past three years. Announcement • May 18
SEMITEC Corporation, Annual General Meeting, Jun 24, 2022 SEMITEC Corporation, Annual General Meeting, Jun 24, 2022. Buying Opportunity • May 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be JP¥7,619, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 47%. Revenue is forecast to grow by 9.5% in 2 years. Earnings is forecast to decline by 1.7% in the next 2 years. Announcement • Apr 08
SEMITEC Corporation to Report Fiscal Year 2022 Results on May 13, 2022 SEMITEC Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 3.3% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.3%). Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥179 (down from JP¥210 in 3Q 2021). Revenue: JP¥5.36b (up 9.0% from 3Q 2021). Net income: JP¥509.0m (down 15% from 3Q 2021). Profit margin: 9.5% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 4.6%, compared to a 7.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥8,320, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥10,660, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 99% over the past three years. Buying Opportunity • Jan 14
Now 21% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be JP¥16,143, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% per annum over the last 3 years. Earnings per share has grown by 41% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥13,030, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 163% over the past three years. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS JP¥244 (vs JP¥119 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥5.06b (up 17% from 2Q 2021). Net income: JP¥694.0m (up 105% from 2Q 2021). Profit margin: 14% (up from 7.8% in 2Q 2021). The increase in margin was driven by higher revenue. 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 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥11,240, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 93% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥11,920, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥8,500, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 26% share price gain to JP¥6,500, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 14% over the past three years. Reported Earnings • May 19
Full year 2021 earnings released: EPS JP¥678 (vs JP¥234 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥17.9b (up 20% from FY 2020). Net income: JP¥1.93b (up 190% from FY 2020). Profit margin: 11% (up from 4.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. 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: 25 June 2021. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (1.1%). Is New 90 Day High Low • Mar 04
New 90-day low: JP¥4,630 The company is down 25% from its price of JP¥6,140 on 04 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 3.0% over the same period. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 9.4%. Earnings per share (EPS) missed analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.2% growth forecast for the Electronic industry in Japan. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥210 (vs JP¥88.49 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥4.92b (up 29% from 3Q 2020). Net income: JP¥596.0m (up 138% from 3Q 2020). Profit margin: 12% (up from 6.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jan 12
SEMITEC Corporation to Report Q3, 2021 Results on Feb 10, 2021 SEMITEC Corporation announced that they will report Q3, 2021 results on Feb 10, 2021 Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 26% share price decline to JP¥5,100, the stock is trading at a trailing P/E ratio of 14.6x, down from the previous P/E ratio of 19.7x. This compares to an average P/E of 19x in the Electronic industry in Japan. Total return to shareholders over the past three years is a loss of 10.0%. Is New 90 Day High Low • Dec 14
New 90-day high: JP¥6,870 The company is up 88% from its price of JP¥3,645 on 15 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥6,870, the stock is trading at a trailing P/E ratio of 19.7x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 19x in the Electronic industry in Japan. Total returns to shareholders over the past three years are 38%. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 5.3%. Over the next year, revenue is forecast to grow 4.0%, compared to a 5.4% growth forecast for the Electronic industry in Japan. Reported Earnings • Nov 16
Second quarter 2021 earnings released: EPS JP¥119 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥4.34b (up 17% from 2Q 2020). Net income: JP¥338.0m (up 28% from 2Q 2020). Profit margin: 7.8% (up from 7.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Nov 12
New 90-day high: JP¥4,795 The company is up 80% from its price of JP¥2,670 on 14 August 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 28% share price gain to JP¥3,990, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 18x in the Electronic industry in Japan. Total return to shareholders over the past three years is a loss of 7.9%.