Reported Earnings • May 15
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥233 (up from JP¥213 in FY 2025). Revenue: JP¥83.7b (flat on FY 2025). Net income: JP¥6.74b (up 9.5% from FY 2025). Profit margin: 8.1% (up from 7.3% in FY 2025). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 11% p.a. on average during the next 2 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 30% per year whereas the company’s share price has increased by 35% per year. Announcement • May 13
Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 24, 2026 Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 24, 2026. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,742, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 195% over the past three years. Announcement • May 09
Mimaki Engineering Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Mimaki Engineering Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 New Risk • May 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 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Buy Or Sell Opportunity • May 08
Now 25% overvalued Over the last 90 days, the stock has fallen 7.7% to JP¥1,706. The fair value is estimated to be JP¥1,369, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Buy Or Sell Opportunity • Mar 25
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at JP¥1,636. The fair value is estimated to be JP¥1,353, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 23 June 2026. Payout ratio is a comfortable 25% and the cash payout ratio is 84%. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.1%). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥61.07 (vs JP¥58.68 in 3Q 2025) Third quarter 2026 results: EPS: JP¥61.07 (up from JP¥58.68 in 3Q 2025). Revenue: JP¥21.0b (up 2.8% from 3Q 2025). Net income: JP¥1.77b (up 4.3% from 3Q 2025). Profit margin: 8.4% (up from 8.3% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% 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 33% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 14
Mimaki Engineering Co., Ltd. Provides Consolidated Earnings Guidance for the Full Year Ending March 31, 2026 Mimaki Engineering Co., Ltd. provided consolidated earnings guidance for the full year ending March 31, 2026. For the year, the company expects net sales to be JPY 82,500 million, operating profit to be JPY 8,500 million, profit attributable to owners of parent to be JPY 5,500 million or basic earnings per share to be JPY 190.10. Announcement • Dec 24
Mimaki Engineering Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Mimaki Engineering Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Declared Dividend • Dec 09
First half dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 3.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 67% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥49.50 (vs JP¥61.30 in 2Q 2025) Second quarter 2026 results: EPS: JP¥49.50 (down from JP¥61.30 in 2Q 2025). Revenue: JP¥20.0b (down 5.5% from 2Q 2025). Net income: JP¥1.43b (down 19% from 2Q 2025). Profit margin: 7.2% (down from 8.4% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 33% per year. Announcement • Sep 03
Mimaki Engineering Co., Ltd. to Report Q2, 2026 Results on Nov 11, 2025 Mimaki Engineering Co., Ltd. announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: JP¥45.69 (vs JP¥51.45 in 1Q 2025) First quarter 2026 results: EPS: JP¥45.69 (down from JP¥51.45 in 1Q 2025). Revenue: JP¥19.4b (down 2.0% from 1Q 2025). Net income: JP¥1.32b (down 11% from 1Q 2025). Profit margin: 6.8% (down from 7.5% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 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 41% per year and the company’s share price has also increased by 41% per year. Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 9th December 2025 Dividend yield will be 3.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 21
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥213 (up from JP¥129 in FY 2024). Revenue: JP¥84.0b (up 11% from FY 2024). Net income: JP¥6.16b (up 66% from FY 2024). Profit margin: 7.3% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.0%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 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 41% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 17
Mimaki Engineering Co., Ltd. to Report Q1, 2026 Results on Aug 07, 2025 Mimaki Engineering Co., Ltd. announced that they will report Q1, 2026 results on Aug 07, 2025 Announcement • May 27
Mimaki Engineering Co., Ltd. Announces Board and Committee Changes Mimaki Engineering Co., Ltd. in its board meeting held on May 26, 2025 announced retirement of directors: Noriyuki Tanaka, Director (Audit etc Committee Member). Makoto Tanaka, Outside Director (Audit etc Committee Member). Planned date of changes: June 20, 2025. Reported Earnings • May 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥213 (up from JP¥129 in FY 2024). Revenue: JP¥84.0b (up 11% from FY 2024). Net income: JP¥6.16b (up 66% from FY 2024). Profit margin: 7.3% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.0%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 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 41% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 20, 2025 Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to JP¥1,853, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Tech industry in Japan. Total returns to shareholders of 259% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥1,384, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 135% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,708, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 166% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Announcement • Mar 07
Mimaki Engineering Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Mimaki Engineering Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥58.68 (vs JP¥35.61 in 3Q 2024) Third quarter 2025 results: EPS: JP¥58.68 (up from JP¥35.61 in 3Q 2024). Revenue: JP¥20.4b (up 5.4% from 3Q 2024). Net income: JP¥1.69b (up 65% from 3Q 2024). Profit margin: 8.3% (up from 5.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 10
First half dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 2.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 04
Mimaki Engineering Co., Ltd. to Report Q3, 2025 Results on Feb 13, 2025 Mimaki Engineering Co., Ltd. announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: JP¥61.30 (vs JP¥40.23 in 2Q 2024) Second quarter 2025 results: EPS: JP¥61.30 (up from JP¥40.23 in 2Q 2024). Revenue: JP¥21.1b (up 12% from 2Q 2024). Net income: JP¥1.77b (up 53% from 2Q 2024). Profit margin: 8.4% (up from 6.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% 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 29% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥1,529, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 57% over the past three years. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.5%). Announcement • Aug 27
Mimaki Engineering Co., Ltd. to Report Q2, 2025 Results on Nov 11, 2024 Mimaki Engineering Co., Ltd. announced that they will report Q2, 2025 results on Nov 11, 2024 Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: JP¥51.44 (vs JP¥8.83 in 1Q 2024) First quarter 2025 results: EPS: JP¥51.44 (up from JP¥8.83 in 1Q 2024). Revenue: JP¥19.8b (up 20% from 1Q 2024). Net income: JP¥1.48b (up 484% from 1Q 2024). Profit margin: 7.5% (up from 1.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% 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 28% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,314, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 62% over the past three years. Major Estimate Revision • Aug 03
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥85.0b to JP¥86.0b. EPS estimate increased from JP¥188 to JP¥208 per share. Net income forecast to grow 62% next year vs 8.8% growth forecast for Tech industry in Japan. Consensus price target of JP¥3,000 unchanged from last update. Share price was steady at JP¥1,620 over the past week. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,756, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 141% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 74% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 28
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥129 (up from JP¥97.54 in FY 2023). Revenue: JP¥75.6b (up 7.1% from FY 2023). Net income: JP¥3.71b (up 32% from FY 2023). Profit margin: 4.9% (up from 4.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.3%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year and the company’s share price has also increased by 35% per year. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,072, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 201% over the past three years. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to JP¥1,672, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 167% over the past three years. Reported Earnings • May 16
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥129 (up from JP¥97.54 in FY 2023). Revenue: JP¥75.6b (up 7.1% from FY 2023). Net income: JP¥3.71b (up 32% from FY 2023). Profit margin: 4.9% (up from 4.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.3%. Revenue is forecast to grow 8.0% 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 35% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 21, 2024 Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.5%). Announcement • Mar 03
Mimaki Engineering Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Mimaki Engineering Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 17
Third quarter 2024 earnings released: EPS: JP¥35.60 (vs JP¥22.97 in 3Q 2023) Third quarter 2024 results: EPS: JP¥35.60 (up from JP¥22.97 in 3Q 2023). Revenue: JP¥19.4b (up 5.6% from 3Q 2023). Net income: JP¥1.02b (up 55% from 3Q 2023). Profit margin: 5.3% (up from 3.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% 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 51% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 16
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥75.0b to JP¥76.0b. EPS estimate increased from JP¥115 to JP¥139 per share. Net income forecast to grow 61% next year vs 11% growth forecast for Tech industry in Japan. Consensus price target up from JP¥1,600 to JP¥2,000. Share price rose 8.5% to JP¥1,000 over the past week. Price Target Changed • Feb 15
Price target increased by 33% to JP¥2,000 Up from JP¥1,500, the current price target is provided by 1 analyst. New target price is 111% above last closing price of JP¥950. Stock is up 69% over the past year. The company is forecast to post earnings per share of JP¥139 for next year compared to JP¥97.54 last year. Buy Or Sell Opportunity • Jan 26
Now 20% undervalued Over the last 90 days, the stock has risen 22% to JP¥910. The fair value is estimated to be JP¥1,138, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Buying Opportunity • Jan 05
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be JP¥1,121, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 56% in the next 2 years. Buying Opportunity • Dec 12
Now 21% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥1,126, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 56% in the next 2 years. Announcement • Dec 08
Mimaki Engineering Co., Ltd. to Report Q3, 2024 Results on Feb 14, 2024 Mimaki Engineering Co., Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 18
Second quarter 2024 earnings released: EPS: JP¥40.23 (vs JP¥21.61 in 2Q 2023) Second quarter 2024 results: EPS: JP¥40.23 (up from JP¥21.61 in 2Q 2023). Revenue: JP¥18.9b (up 5.2% from 2Q 2023). Net income: JP¥1.16b (up 86% from 2Q 2023). Profit margin: 6.1% (up from 3.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 16
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be JP¥1,104, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 87% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥885, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 107% over the past three years. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥10.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 07 December 2023. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.7%). Announcement • Aug 31
Mimaki Engineering Co., Ltd. to Report Q2, 2024 Results on Nov 14, 2023 Mimaki Engineering Co., Ltd. announced that they will report Q2, 2024 results on Nov 14, 2023 Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥744, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 107% over the past three years. Buying Opportunity • Aug 14
Now 34% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be JP¥1,190, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 79% in the next 2 years. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥8.86 (vs JP¥23.42 in 1Q 2023) First quarter 2024 results: EPS: JP¥8.86 (down from JP¥23.42 in 1Q 2023). Revenue: JP¥16.5b (up 3.3% from 1Q 2023). Net income: JP¥255.0m (down 62% from 1Q 2023). Profit margin: 1.5% (down from 4.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 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 81% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥943, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 168% over the past three years. Price Target Changed • Jun 28
Price target increased by 33% to JP¥1,600 Up from JP¥1,200, the current price target is provided by 1 analyst. New target price is 81% above last closing price of JP¥885. Stock is up 64% over the past year. The company is forecast to post earnings per share of JP¥115 for next year compared to JP¥97.55 last year. Announcement • Jun 07
Mimaki Engineering Co., Ltd. to Report Q1, 2024 Results on Aug 10, 2023 Mimaki Engineering Co., Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥746, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Tech industry in Japan. Total returns to shareholders of 98% over the past three years. Reported Earnings • May 19
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥97.54 (up from JP¥80.39 in FY 2022). Revenue: JP¥70.6b (up 19% from FY 2022). Net income: JP¥2.81b (up 20% from FY 2022). Profit margin: 4.0% (up from 3.9% 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 12%. Revenue is forecast to grow 6.3% 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 89% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 23, 2023 Mimaki Engineering Co., Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.50 per share at 2.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.1%). Price Target Changed • Mar 16
Price target decreased by 25% to JP¥1,200 Down from JP¥1,600, the current price target is provided by 1 analyst. New target price is 86% above last closing price of JP¥646. Stock is down 5.3% over the past year. The company is forecast to post earnings per share of JP¥86.90 for next year compared to JP¥80.39 last year. Reported Earnings • Mar 15
Third quarter 2023 earnings released: EPS: JP¥22.97 (vs JP¥17.65 in 3Q 2022) Third quarter 2023 results: EPS: JP¥22.97 (up from JP¥17.65 in 3Q 2022). Revenue: JP¥18.4b (up 23% from 3Q 2022). Net income: JP¥661.0m (up 29% from 3Q 2022). Profit margin: 3.6% (up from 3.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Tech industry in Japan. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Nov 27
Mimaki Engineering Co., Ltd. to Report Q3, 2023 Results on Feb 09, 2023 Mimaki Engineering Co., Ltd. announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥21.61 (vs JP¥30.72 in 2Q 2022) Second quarter 2023 results: EPS: JP¥21.61 (down from JP¥30.72 in 2Q 2022). Revenue: JP¥18.0b (up 22% from 2Q 2022). Net income: JP¥622.0m (down 31% from 2Q 2022). Profit margin: 3.5% (down from 6.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% 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 68% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Second quarter 2023 earnings released Second quarter 2023 results: Net income: (down JP¥906.0m from profit in 2Q 2022). Revenue is forecast to grow 9.3% 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 68% 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 • Sep 22
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.8%). Announcement • Sep 02
Mimaki Engineering Co., Ltd. to Report Q2, 2023 Results on Nov 09, 2022 Mimaki Engineering Co., Ltd. announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥23.42 (vs JP¥22.31 in 1Q 2022) First quarter 2023 results: EPS: JP¥23.42 (up from JP¥22.31 in 1Q 2022). Revenue: JP¥16.0b (up 13% from 1Q 2022). Net income: JP¥674.0m (up 2.4% from 1Q 2022). Profit margin: 4.2% (down from 4.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 7.9% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 51% 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 • Aug 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be JP¥870, 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. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.5% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥698, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 36% over the past three years. Announcement • Jun 18
Mimaki Engineering Co., Ltd. to Report Q1, 2023 Results on Aug 09, 2022 Mimaki Engineering Co., Ltd. announced that they will report Q1, 2023 results on Aug 09, 2022 Major Estimate Revision • May 26
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥64.0b to JP¥66.6b. EPS estimate fell from JP¥97.30 to JP¥69.50 per share. Net income forecast to shrink 15% next year vs 0.8% decline forecast for Tech industry in Japan. Consensus price target down from JP¥1,500 to JP¥1,100. Share price fell 7.3% to JP¥531 over the past week.