Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥3,065, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 133% over the past three years. Reported Earnings • Apr 11
Second quarter 2026 earnings released: EPS: JP¥61.18 (vs JP¥72.40 in 2Q 2025) Second quarter 2026 results: EPS: JP¥61.18 (down from JP¥72.40 in 2Q 2025). Revenue: JP¥3.05b (down 13% from 2Q 2025). Net income: JP¥522.0m (down 16% from 2Q 2025). Profit margin: 17% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,020, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 50% over the past three years. Announcement • Apr 03
Adtec Plasma Technology Co., Ltd. to Report Q2, 2026 Results on Apr 10, 2026 Adtec Plasma Technology Co., Ltd. announced that they will report Q2, 2026 results on Apr 10, 2026 New Risk • Mar 03
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 5.6% 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 (5.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥15.7b market cap, or US$99.7m). Upcoming Dividend • Feb 19
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 01 May 2026. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,654, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 12% over the past three years. Reported Earnings • Jan 10
First quarter 2026 earnings released: EPS: JP¥11.91 (vs JP¥43.26 in 1Q 2025) First quarter 2026 results: EPS: JP¥11.91 (down from JP¥43.26 in 1Q 2025). Revenue: JP¥2.41b (down 13% from 1Q 2025). Net income: JP¥102.0m (down 72% from 1Q 2025). Profit margin: 4.2% (down from 13% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 9% per year, which means it is performing significantly worse than earnings. Announcement • Nov 08
Adtec Plasma Technology Co., Ltd. to Report Q1, 2026 Results on Jan 09, 2026 Adtec Plasma Technology Co., Ltd. announced that they will report Q1, 2026 results on Jan 09, 2026 New Risk • Oct 14
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 5.8% 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 (5.8% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥10.6b market cap, or US$69.5m). Reported Earnings • Oct 11
Full year 2025 earnings released: EPS: JP¥234 (vs JP¥142 in FY 2024) Full year 2025 results: EPS: JP¥234 (up from JP¥142 in FY 2024). Revenue: JP¥12.7b (up 12% from FY 2024). Net income: JP¥2.01b (up 66% from FY 2024). Profit margin: 16% (up from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Announcement • Oct 10
Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 27, 2025 Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 27, 2025. Upcoming Dividend • Aug 21
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 5.1% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.8%). Announcement • Aug 01
Adtec Plasma Technology Co., Ltd. to Report Fiscal Year 2025 Results on Oct 10, 2025 Adtec Plasma Technology Co., Ltd. announced that they will report fiscal year 2025 results on Oct 10, 2025 Reported Earnings • Jul 14
Third quarter 2025 earnings released: EPS: JP¥45.29 (vs JP¥87.11 in 3Q 2024) Third quarter 2025 results: EPS: JP¥45.29 (down from JP¥87.11 in 3Q 2024). Revenue: JP¥4.00b (up 20% from 3Q 2024). Net income: JP¥388.0m (down 48% from 3Q 2024). Profit margin: 9.7% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Announcement • Apr 26
Adtec Plasma Technology Co., Ltd. to Report Q3, 2025 Results on Jul 11, 2025 Adtec Plasma Technology Co., Ltd. announced that they will report Q3, 2025 results on Jul 11, 2025 Reported Earnings • Apr 12
Second quarter 2025 earnings released: EPS: JP¥72.40 (vs JP¥5.85 in 2Q 2024) Second quarter 2025 results: EPS: JP¥72.40 (up from JP¥5.85 in 2Q 2024). Revenue: JP¥3.52b (up 48% from 2Q 2024). Net income: JP¥620.0m (up JP¥570.0m from 2Q 2024). Profit margin: 18% (up from 2.1% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. New Risk • Apr 04
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 High level of debt (52% net debt to equity). Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (JP¥10.1b market cap, or US$69.4m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥1,177, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 48% over the past three years. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 01 May 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%). Announcement • Feb 03
Adtec Plasma Technology Co., Ltd. to Report Q2, 2025 Results on Apr 11, 2025 Adtec Plasma Technology Co., Ltd. announced that they will report Q2, 2025 results on Apr 11, 2025 Reported Earnings • Jan 15
First quarter 2025 earnings released: EPS: JP¥43.26 (vs JP¥13.28 in 1Q 2024) First quarter 2025 results: EPS: JP¥43.26 (up from JP¥13.28 in 1Q 2024). Revenue: JP¥2.77b (up 15% from 1Q 2024). Net income: JP¥370.0m (up 225% from 1Q 2024). Profit margin: 13% (up from 4.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Nov 14
Adtec Plasma Technology Co., Ltd. to Report Q1, 2025 Results on Jan 10, 2025 Adtec Plasma Technology Co., Ltd. announced that they will report Q1, 2025 results on Jan 10, 2025 Reported Earnings • Oct 17
Full year 2024 earnings released: EPS: JP¥142 (vs JP¥196 in FY 2023) Full year 2024 results: EPS: JP¥142 (down from JP¥196 in FY 2023). Revenue: JP¥11.3b (down 9.6% from FY 2023). Net income: JP¥1.21b (down 28% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. New Risk • Oct 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥12.8b (US$86.1m) 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (JP¥12.8b market cap, or US$86.1m). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to JP¥1,501, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 23% over the past three years. Announcement • Oct 11
Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 27, 2024 Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 27, 2024. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥2,115, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 41% over the past three years. Upcoming Dividend • Aug 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 7.2% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥1,519, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 4.6% over the past three years. Announcement • Aug 02
Adtec Plasma Technology Co., Ltd. to Report Fiscal Year 2024 Results on Oct 11, 2024 Adtec Plasma Technology Co., Ltd. announced that they will report fiscal year 2024 results on Oct 11, 2024 Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,634, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 13x in the Electronic industry in Japan. Total loss to shareholders of 8.7% over the past three years. Reported Earnings • Jul 16
Third quarter 2024 earnings released: EPS: JP¥87.11 (vs JP¥65.24 in 3Q 2023) Third quarter 2024 results: EPS: JP¥87.11 (up from JP¥65.24 in 3Q 2023). Revenue: JP¥3.32b (down 5.5% from 3Q 2023). Net income: JP¥745.0m (up 33% from 3Q 2023). Profit margin: 22% (up from 16% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 03
Adtec Plasma Technology Co., Ltd. to Report Q3, 2024 Results on Jul 12, 2024 Adtec Plasma Technology Co., Ltd. announced that they will report Q3, 2024 results on Jul 12, 2024 Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,334, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Electronic industry in Japan. Total loss to shareholders of 5.4% over the past three years. Reported Earnings • Apr 14
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: JP¥5.85 (down from JP¥14.34 in 2Q 2023). Revenue: JP¥2.38b (down 16% from 2Q 2023). Net income: JP¥50.0m (down 59% from 2Q 2023). Profit margin: 2.1% (down from 4.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 71%. Revenue is forecast to grow 11% 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 18% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (1.4%). Announcement • Feb 08
Adtec Plasma Technology Co., Ltd. to Report Q2, 2024 Results on Apr 12, 2024 Adtec Plasma Technology Co., Ltd. announced that they will report Q2, 2024 results on Apr 12, 2024 Buy Or Sell Opportunity • Jan 26
Now 21% undervalued Over the last 90 days, the stock has risen 8.6% to JP¥1,523. The fair value is estimated to be JP¥1,929, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. New Risk • Jan 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥13.4b (US$91.9m) 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (JP¥13.4b market cap, or US$91.9m). Buying Opportunity • Jan 15
Now 22% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be JP¥2,013, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 52% in the next 2 years. Reported Earnings • Jan 14
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: JP¥13.28 (down from JP¥54.80 in 1Q 2023). Revenue: JP¥2.40b (down 21% from 1Q 2023). Net income: JP¥114.0m (down 76% from 1Q 2023). Profit margin: 4.7% (down from 16% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 8.9% 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 29% 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 • Dec 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be JP¥1,971, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Price Target Changed • Nov 22
Price target increased by 9.3% to JP¥2,240 Up from JP¥2,050, the current price target is an average from 2 analysts. New target price is 39% above last closing price of JP¥1,613. Stock is down 7.4% over the past year. The company is forecast to post earnings per share of JP¥184 for next year compared to JP¥196 last year. Announcement • Nov 15
Adtec Plasma Technology Co., Ltd. to Report Q1, 2024 Results on Jan 12, 2024 Adtec Plasma Technology Co., Ltd. announced that they will report Q1, 2024 results on Jan 12, 2024 Announcement • Oct 15
Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 28, 2023 Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 28, 2023. Reported Earnings • Oct 15
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: JP¥196 (down from JP¥253 in FY 2022). Revenue: JP¥12.5b (up 1.3% from FY 2022). Net income: JP¥1.68b (down 23% from FY 2022). Profit margin: 13% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 2 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 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥8.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 7.8% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.4%). Announcement • Aug 03
Adtec Plasma Technology Co., Ltd. to Report Fiscal Year 2023 Results on Oct 13, 2023 Adtec Plasma Technology Co., Ltd. announced that they will report fiscal year 2023 results on Oct 13, 2023 Major Estimate Revision • Jul 21
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from JP¥12.6b to JP¥12.8b. EPS estimate increased from JP¥146 to JP¥167 per share. Net income forecast to grow 14% next year vs 3.2% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥2,050 to JP¥2,250. Share price rose 10% to JP¥1,585 over the past week. Reported Earnings • Jul 16
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: JP¥65.24 (down from JP¥72.41 in 3Q 2022). Revenue: JP¥3.52b (up 13% from 3Q 2022). Net income: JP¥560.0m (down 9.8% from 3Q 2022). Profit margin: 16% (down from 20% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 133%. Revenue is forecast to grow 14% 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 46% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.0%. The fair value is estimated to be JP¥1,747, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 54%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 25% in the next 2 years. Announcement • May 04
Adtec Plasma Technology Co., Ltd. to Report Q3, 2023 Results on Jul 14, 2023 Adtec Plasma Technology Co., Ltd. announced that they will report Q3, 2023 results on Jul 14, 2023 Reported Earnings • Apr 16
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥14.34 (down from JP¥56.22 in 2Q 2022). Revenue: JP¥2.83b (down 3.1% from 2Q 2022). Net income: JP¥123.0m (down 75% from 2Q 2022). Profit margin: 4.3% (down from 17% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 13% 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 54% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 11
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from JP¥14.0b to JP¥13.5b. EPS estimate also fell from JP¥248 per share to JP¥213 per share. Net income forecast to shrink 14% next year vs 5.1% growth forecast for Electronic industry in Japan . Consensus price target of JP¥2,050 unchanged from last update. Share price fell 2.3% to JP¥1,486 over the past week. Upcoming Dividend • Feb 20
Upcoming dividend of JP¥8.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 27 February 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 5.5% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.6%). Announcement • Jan 28
Adtec Plasma Technology Co., Ltd. to Report Q2, 2023 Results on Apr 14, 2023 Adtec Plasma Technology Co., Ltd. announced that they will report Q2, 2023 results on Apr 14, 2023 Reported Earnings • Jan 14
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: JP¥54.80 (up from JP¥53.94 in 1Q 2022). Revenue: JP¥3.04b (up 5.2% from 1Q 2022). Net income: JP¥470.0m (up 1.5% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 4.0% 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 62% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,017, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Electronic industry in Japan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Dec 04
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥253 (up from JP¥102 in FY 2021). Revenue: JP¥12.3b (up 54% from FY 2021). Net income: JP¥2.17b (up 149% from FY 2021). Profit margin: 18% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to grow 5.0% 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 62% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Nov 26
Adtec Plasma Technology Co., Ltd. (TSE:6668) announces an Equity Buyback for 15,000 shares, representing 0.17% for ¥27.18 million. Adtec Plasma Technology Co., Ltd. (TSE:6668) announces a share repurchase program. Under the program, the company will repurchase up to 15,000 shares, representing 0.17% for ¥27.18 million. The shares will be repurchased at a price of ¥1,812 per shares. The purpose of the program is to acquire treasury stock necessary for disposal of treasury stock as transfer-restricted stock compensation. The program will expire on November 28, 2022. As of August 31, 2022, the company had 8,576,139 shares in issue and 9,861 shares in treasury. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. No independent directors (9 non-independent directors). Director Shoji Fujiwara was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Nov 03
Adtec Plasma Technology Co., Ltd. to Report Q1, 2023 Results on Jan 13, 2023 Adtec Plasma Technology Co., Ltd. announced that they will report Q1, 2023 results on Jan 13, 2023 Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥1,691, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Electronic industry in Japan. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥688 per share. Major Estimate Revision • Oct 22
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥300 to JP¥254. Revenue forecast unchanged from JP¥13.7b at last update. Net income forecast to grow 6.3% next year vs 6.5% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥5,513 to JP¥3,075. Share price fell 5.7% to JP¥1,355 over the past week. Price Target Changed • Oct 21
Price target decreased to JP¥3,075 Down from JP¥3,825, the current price target is an average from 2 analysts. New target price is 127% above last closing price of JP¥1,355. Stock is down 43% over the past year. The company is forecast to post earnings per share of JP¥269 for next year compared to JP¥253 last year. Reported Earnings • Oct 17
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: JP¥253 (up from JP¥102 in FY 2021). Revenue: JP¥12.3b (up 54% from FY 2021). Net income: JP¥2.17b (up 149% from FY 2021). Profit margin: 18% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.9%. Revenue is forecast to grow 20% 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 62% 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 16
Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 25, 2022 Adtec Plasma Technology Co., Ltd., Annual General Meeting, Nov 25, 2022. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 29 November 2022. Payout ratio is a comfortable 8.7% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%). Announcement • Aug 03
Adtec Plasma Technology Co., Ltd. to Report Fiscal Year 2022 Results on Oct 14, 2022 Adtec Plasma Technology Co., Ltd. announced that they will report fiscal year 2022 results on Oct 14, 2022 Major Estimate Revision • Jul 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from JP¥205 to JP¥235. Revenue forecast steady at JP¥12.3b. Net income forecast to grow 36% next year vs 7.1% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥3,825 to JP¥3,675. Share price rose 5.9% to JP¥1,890 over the past week. Price Target Changed • Jul 22
Price target decreased to JP¥3,675 Down from JP¥4,000, the current price target is an average from 3 analysts. New target price is 94% above last closing price of JP¥1,890. Stock is up 2.4% over the past year. The company is forecast to post earnings per share of JP¥235 for next year compared to JP¥102 last year. Reported Earnings • Jul 15
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥72.41 (up from JP¥35.30 in 3Q 2021). Revenue: JP¥3.11b (up 39% from 3Q 2021). Net income: JP¥621.0m (up 105% from 3Q 2021). Profit margin: 20% (up from 14% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 33%. Over the next year, revenue is forecast to grow 35%, compared to a 10% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Announcement • May 04
Adtec Plasma Technology Co., Ltd. to Report Q3, 2022 Results on Jul 13, 2022 Adtec Plasma Technology Co., Ltd. announced that they will report Q3, 2022 results on Jul 13, 2022 Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. No independent directors (9 non-independent directors). Director Shoji Fujiwara was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥2,219, 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 168% over the past three years. Reported Earnings • Apr 14
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: JP¥56.22 (up from JP¥25.05 in 2Q 2021). Revenue: JP¥2.92b (up 61% from 2Q 2021). Net income: JP¥482.0m (up 124% from 2Q 2021). Profit margin: 17% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 34%, compared to a 8.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 33% per year. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,518, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 299% over the past three years. Upcoming Dividend • Feb 18
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 25 February 2022. Payment date: 27 April 2022. Payout ratio is a comfortable 8.6% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.3%). Announcement • Feb 04
Adtec Plasma Technology Co., Ltd. to Report Q2, 2022 Results on Apr 13, 2022 Adtec Plasma Technology Co., Ltd. announced that they will report Q2, 2022 results on Apr 13, 2022 Reported Earnings • Jan 14
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: JP¥53.94 (up from JP¥16.31 in 1Q 2021). Revenue: JP¥2.89b (up 60% from 1Q 2021). Net income: JP¥463.0m (up 231% from 1Q 2021). Profit margin: 16% (up from 7.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 58%. Earnings per share (EPS) surpassed analyst estimates by 58%. Over the next year, revenue is forecast to grow 34%, compared to a 9.8% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥2,851, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 275% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,252 per share. Reported Earnings • Dec 05
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: JP¥102 (up from JP¥75.49 in FY 2020). Revenue: JP¥8.00b (up 12% from FY 2020). Net income: JP¥875.0m (up 35% from FY 2020). Profit margin: 11% (up from 9.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 12%. Earnings per share (EPS) surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 49%, compared to a 9.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Nov 27
Adtec Plasma Technology Co., Ltd. (TSE:6668) announces an Equity Buyback for 20,000 shares, representing 0.23% for ¥44.22 million. Adtec Plasma Technology Co., Ltd. (TSE:6668) announces a share repurchase program. Under the program, the company will repurchase up to 20,000 shares, representing 0.23% for ¥44.22 million. The shares will be repurchased at a price of ¥2,211 per shares. The purpose of the program is to acquire treasury stock necessary for disposal of treasury stock as transfer-restricted stock compensation. The program will expire on November 29, 2021. As of August 31, 2021, the company had 8,583,859 shares in issue and 2,141 shares in treasury. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥2,624, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 167% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥4,119 per share. Price Target Changed • Oct 21
Price target increased to JP¥3,050 Up from JP¥2,800, the current price target is an average from 3 analysts. New target price is 38% above last closing price of JP¥2,206. Stock is up 91% over the past year. The company is forecast to post earnings per share of JP¥189 for next year compared to JP¥102 last year. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 51% share price gain to JP¥2,250, 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 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,474 per share. Reported Earnings • Oct 14
Full year 2021 earnings released: EPS JP¥102 (vs JP¥75.49 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥8.00b (up 12% from FY 2020). Net income: JP¥875.0m (up 35% from FY 2020). Profit margin: 11% (up from 9.1% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 27 November 2021. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.1%). Lower than average of industry peers (1.1%).