Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥441 (vs JP¥774 in FY 2025) Full year 2026 results: EPS: JP¥441 (down from JP¥774 in FY 2025). Revenue: JP¥9.91b (down 8.6% from FY 2025). Net income: JP¥9.66b (down 44% from FY 2025). Profit margin: 98% (down from 159% in FY 2025). Over the last 3 years on average, earnings per share has increased by 74% per year whereas the company’s share price has increased by 69% per year. New Risk • May 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 9.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (68% net profit margin). Announcement • May 19
Sun Corporation, Annual General Meeting, Jun 24, 2026 Sun Corporation, Annual General Meeting, Jun 24, 2026. Announcement • May 10
Sun Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Sun Corporation announced that they will report fiscal year 2026 results on May 15, 2026 Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥7,800, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 278% over the past three years. Declared Dividend • Mar 16
Dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.6%. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥7,010, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 213% over the past three years. New Risk • Feb 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 68% Last year net profit margin: 122% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (68% net profit margin). Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: JP¥114 (vs JP¥378 in 3Q 2025) Third quarter 2026 results: EPS: JP¥114 (down from JP¥378 in 3Q 2025). Revenue: JP¥2.70b (up 7.1% from 3Q 2025). Net income: JP¥2.45b (down 71% from 3Q 2025). Profit margin: 91% (down from 334% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Sun Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Sun Corporation revised consolidated earnings guidance for the fiscal year ending March 31, 2026. For the year, the company now expects consolidated net sales to be JPY 10,300 million, consolidated Operating loss to be JPY 210 million and Profit attributable to owners of parent to be JPY 8,800 million and Consolidated earnings per share to be JPY 399.84 against previous guidance consolidated net sales to be JPY 16,247 million, consolidated Operating profit to be JPY 1,385 million and Profit attributable to owners of parent to be JPY 4,296 million and Consolidated earnings per share to be JPY 192.90.
Reason for the revision: Regarding the business environment for the fiscal year ending March 31, 2026, the Global Data Intelligence business is expected to see positive results from forensic and intelligence solutions. Furthermore, the Company's project for the "Research, Development, and Demonstration of Multi- modal Integrated Fake/Misinformation Detection Technology" was selected by the Ministry of Internal Affairs and Communications (MIC). In the Entertainment-related business, shipment volumes of components for gaming machines to major customers have fallen short of initial expectations and are currently showing sluggish growth. In the IT-related business, demand for the migration to LTE (4G) following the shutdown of 3G services by various telecommunications carriers has run its course. Meanwhile, regarding new 5G and edge AI-related products--which the Company is focusing on as next growth drivers--delays in development and market launch are expected to result in lower shipment volumes. Additionally, the development of security measures for industrial networks is taking longer than anticipated. In terms of M&A and business alliances, strategic investments such as the capital participation in Cyber Command Inc. in August 2025 are beginning to yield steady results. However, for several other deals currently under negotiation, the due diligence and consensus-building processes are taking longer than initially expected, and their contribution to earnings for the current fiscal year is projected to be limited. On the other hand, the business performance of Cellebrite, a subsidiary accounted for under the equity method, remains robust. In light of the circumstances described above, net sales are expected to fall below the previous forecast. Operating profit is projected to decrease in line with the decline in sales. Regarding ordinary profit, based on the forecast for investment offshore under the equity method, the scale of the decrease is expected to be narrower compared to that of operating profit. Finally, profit attributable to owners of parent is projected to exceed the previous forecast due to the recognition of a gain on change in equity. Announcement • Dec 20
Sun Corporation to Report Q3, 2026 Results on Feb 13, 2026 Sun Corporation announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Nov 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 52% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). High level of non-cash earnings (52% accrual ratio). Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥120 (vs JP¥8.72 in 2Q 2025) Second quarter 2026 results: EPS: JP¥120 (up from JP¥8.72 in 2Q 2025). Revenue: JP¥2.12b (down 39% from 2Q 2025). Net income: JP¥2.67b (up JP¥2.47b from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 63% per year whereas the company’s share price has increased by 62% per year. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥9,880, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 397% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥9,630, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 452% over the past three years. New Risk • Oct 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥9,620, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 460% over the past three years. Announcement • Sep 12
Sun Corporation to Report Q2, 2026 Results on Nov 14, 2025 Sun Corporation announced that they will report Q2, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥6,940, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 16x in the Tech industry in Japan. Total returns to shareholders of 227% over the past three years. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥79.71 (vs JP¥9.03 in 1Q 2025) First quarter 2026 results: EPS: JP¥79.71 (up from JP¥9.03 in 1Q 2025). Revenue: JP¥2.59b (down 11% from 1Q 2025). Net income: JP¥1.78b (up JP¥1.57b from 1Q 2025). Profit margin: 69% (up from 6.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 43% per year. New Risk • Jul 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Reported Earnings • Jul 01
Full year 2025 earnings released: EPS: JP¥774 (vs JP¥170 loss in FY 2024) Full year 2025 results: EPS: JP¥774 (up from JP¥170 loss in FY 2024). Revenue: JP¥10.8b (up 7.9% from FY 2024). Net income: JP¥17.2b (up JP¥21.0b from FY 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 13
Sun Corporation to Report Q1, 2026 Results on Aug 08, 2025 Sun Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 New Risk • May 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 45% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • May 16
Sun Corporation, Annual General Meeting, Jun 24, 2025 Sun Corporation, Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥6,260, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 309% over the past three years. Announcement • Apr 17
Sun Corporation Announces Management Changes Sun Corporation announced that it has decided, at the meeting of the board of directors held on April 17, 2025, to implement the personnel changes: Directors: Ryusuke UTSUMI; Current Position: President & Representative Director; New Position: President & Representative Director Head of Business HQ. Yoshimi KIMURA: Current Position: Senior Managing Director & Representative Director General Manager of Accounting; New Position: Senior Managing Director & Representative Director. Keiichi TERAKURA: Current Position: Executive Officer, Head of Business Revitalization Committee, Head of Governance HQ, General Manager of Legal & IP. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥6,000, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 12x in the Tech industry in Japan. Total returns to shareholders of 253% over the past three years. Announcement • Mar 26
Sun Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Sun Corporation announced that they will report fiscal year 2025 results on May 15, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.6%). Declared Dividend • Mar 06
Dividend of JP¥50.00 announced Shareholders will receive a dividend of JP¥50.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 1.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (7% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥7,730, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 359% over the past three years. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: JP¥749 (vs JP¥3.78 in 3Q 2024) Third quarter 2025 results: EPS: JP¥749 (up from JP¥3.78 in 3Q 2024). Revenue: JP¥2.14b (down 24% from 3Q 2024). Net income: JP¥16.7b (up JP¥16.6b from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 74% per year, which means it is well ahead of earnings. New Risk • Feb 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.7% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Announcement • Dec 03
Sun Corporation to Report Q3, 2025 Results on Feb 14, 2025 Sun Corporation announced that they will report Q3, 2025 results on Feb 14, 2025 Announcement • Sep 19
Sun Corporation Announces Interim Dividend for the Fiscal Year 2025, Effective December 12, 2024 The Board of Directors of SUN CORPORATION resolved at its meeting held on September 19, 2024 that the interim dividend for the fiscal year of 2025 of JPY 50 per share for the record date September 30, 2024 effective on December 12, 2024. Announcement • Sep 11
Sun Corporation Announces Personnel Changes Sun Corporation announce the following personnel changes with effect from September 1, 2024. Tatsuhiro Shoji new position as Head of IR Office. Yasuyuki Takikawa new position as Head of Personnel and General Affairs. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥9.31 (vs JP¥117 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥9.31 (up from JP¥117 loss in 1Q 2024). Revenue: JP¥2.36b (flat on 1Q 2024). Net income: JP¥207.0m (up JP¥2.82b from 1Q 2024). Profit margin: 8.8% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. New Risk • May 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 18
Full year 2024 earnings released: JP¥170 loss per share (vs JP¥293 profit in FY 2023) Full year 2024 results: JP¥170 loss per share (down from JP¥293 profit in FY 2023). Revenue: JP¥10.0b (down 73% from FY 2023). Net loss: JP¥3.78b (down 155% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Apr 11
Sun Corporation, Annual General Meeting, Jun 25, 2024 Sun Corporation, Annual General Meeting, Jun 25, 2024. Announcement • Mar 26
Leopard Asset Management Expresses Concerns Over Sun Corporation's Lack of Action to Enhance Shareholder Value On March 25, 2024, Leopard Asset Management Ltd announced that, it expresses deep concerns regarding the Sun Corporation's ongoing undervaluation and management's apparent reluctance to take meaningful action to address this issue. Further, Leopard Asset Management Ltd stated that, the Company’s shares have been consistently undervalued in the market trading well below its intrinsic value. Despite our repeated attempts to engage with the Company’s management to address the undervaluation, including a meeting and sending follow-up letters emphasizing the need for enhanced shareholder value, our efforts have been met with limited responsiveness. In addition, Leopard Asset Management urges the Company’s management to reconsider its stance and take decisive action to address shareholder concerns promptly. Failure to do so risks further erosion of shareholder confidence and continued undervaluation of the company's shares, and call for the Company’s shareholders to demand decisive actions from management. Further, Leopard Asset Management believes that The Company could significantly improve shareholder value by distributing CLBT shares as a dividend in kind, alongside providing an extra cash dividend to shareholders, cash, investment in securities and holdings in CLBT are worth more than ¥9,000 per share, vs. the current price of ¥3,320. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 June 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.5%). Announcement • Mar 09
Sun Corporation to Report Fiscal Year 2024 Results on May 14, 2024 Sun Corporation announced that they will report fiscal year 2024 results on May 14, 2024 Declared Dividend • Feb 17
Dividend increased to JP¥40.00 Dividend of JP¥40.00 is 100% higher than last year. Ex-date: 28th March 2024 Payment date: 24th June 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.6%. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: JP¥3.78 (vs JP¥4.62 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥3.78 (up from JP¥4.62 loss in 3Q 2023). Revenue: JP¥2.82b (down 79% from 3Q 2023). Net income: JP¥84.0m (up JP¥193.0m from 3Q 2023). Profit margin: 3.0% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Dec 29
Sun Corporation to Report Q3, 2024 Results on Feb 13, 2024 Sun Corporation announced that they will report Q3, 2024 results on Feb 13, 2024 New Risk • Nov 22
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 5.4% 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. Reported Earnings • Nov 18
Second quarter 2024 earnings released: JP¥72.71 loss per share (vs JP¥102 profit in 2Q 2023) Second quarter 2024 results: JP¥72.71 loss per share (down from JP¥102 profit in 2Q 2023). Revenue: JP¥2.28b (down 80% from 2Q 2023). Net loss: JP¥1.62b (down 167% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 27
Sun Corporation to Report Q2, 2024 Results on Nov 14, 2023 Sun Corporation announced that they will report Q2, 2024 results on Nov 14, 2023 New Risk • Aug 14
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: 0.9% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Reported Earnings • Aug 12
First quarter 2024 earnings released: JP¥117 loss per share (vs JP¥168 profit in 1Q 2023) First quarter 2024 results: JP¥117 loss per share (down from JP¥168 profit in 1Q 2023). Revenue: JP¥2.37b (down 75% from 1Q 2023). Net loss: JP¥2.61b (down 165% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Sun Corporation to Report Q1, 2024 Results on Aug 10, 2023 Sun Corporation announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥293 (vs JP¥118 in FY 2022) Full year 2023 results: EPS: JP¥293 (up from JP¥118 in FY 2022). Revenue: JP¥37.4b (flat on FY 2022). Net income: JP¥6.88b (up 144% from FY 2022). Profit margin: 18% (up from 7.6% in FY 2022). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 18
Third quarter 2023 earnings released: JP¥4.62 loss per share (vs JP¥20.51 profit in 3Q 2022) Third quarter 2023 results: JP¥4.62 loss per share (down from JP¥20.51 profit in 3Q 2022). Revenue: JP¥13.3b (up 25% from 3Q 2022). Net loss: JP¥109.0m (down 122% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
Sun Corporation (TSE:6736) completed the acquisition of EK Tech Holdings Sdn. Bhd. Sun Corporation (TSE:6736) agreed to acquire EK Tech Holdings Sdn. Bhd. on December 23, 2022. The transaction is expected to close in late January, 2023.
Sun Corporation (TSE:6736) completed the acquisition of EK Tech Holdings Sdn. Bhd. on February 2, 2023. Announcement • Dec 26
Sun Corporation (TSE:6736) agreed to acquire EK Tech Holdings Sdn. Bhd. Sun Corporation (TSE:6736) agreed to acquire EK Tech Holdings Sdn. Bhd. on December 23, 2022. The transaction is expected to close in late January, 2023. Announcement • Dec 16
Sun Corporation to Report Q3, 2023 Results on Feb 14, 2023 Sun Corporation announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,161, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 10x in the Tech industry in Japan. Total returns to shareholders of 86% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 4 independent directors (5 non-independent directors). Senior MD & Director Yoshimi Kimura is the most experienced director on the board, commencing their role in 2019. Independent Director Tomoyuki Shinkai was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Nov 15
Sun Corporation (TSE:6736) announces an Equity Buyback for 1,500,000 shares, representing 6.25% for ¥3.75 million. Sun Corporation (TSE:6736) announces a share repurchase program. Under the program, the company will repurchase 1,500,000 shares, representing 6.25% of its issued shares for ¥3.75 million. The purpose of the program is to restructure the company, invest for organic growth, implement agile capital policies with a view to M&A, improve capital efficiency, and return profits to shareholders. The program will run until November 14, 2023. As of September 30, 2022, the company had 23,998,828 shares outstanding (excluding treasury stock) and 301,287 shares in treasury. Announcement • Aug 31
Sun Corporation to Report Q2, 2023 Results on Nov 11, 2022 Sun Corporation announced that they will report Q2, 2023 results on Nov 11, 2022 Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥2,180, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 118% over the past three years. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥168 (vs JP¥8.45 in 1Q 2022) First quarter 2023 results: EPS: JP¥168 (up from JP¥8.45 in 1Q 2022). Revenue: JP¥9.55b (up 32% from 1Q 2022). Net income: JP¥4.00b (up JP¥3.79b from 1Q 2022). Profit margin: 42% (up from 2.8% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 112% 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 • Jul 26
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,073, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 11x in the Tech industry in Japan. Total returns to shareholders of 77% over the past three years. Announcement • Jun 02
Sun Corporation to Report Q1, 2023 Results on Aug 09, 2022 Sun Corporation announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥118 (vs JP¥2.06 in FY 2021) Full year 2022 results: EPS: JP¥118 (up from JP¥2.06 in FY 2021). Revenue: JP¥37.2b (up 40% from FY 2021). Net income: JP¥2.82b (up JP¥2.77b from FY 2021). Profit margin: 7.6% (up from 0.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 4 independent directors (5 non-independent directors). Senior MD & Director Yoshimi Kimura is the most experienced director on the board, commencing their role in 2019. Independent Outside Director Akira Iwata was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
Sun Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Sun Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 27 June 2022. Payout ratio is a comfortable 13% 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 (2.6%). Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,939, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 190% over the past three years. Reported Earnings • Feb 20
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥20.51 (up from JP¥19.36 in 3Q 2021). Revenue: JP¥10.7b (up 54% from 3Q 2021). Net income: JP¥491.0m (up 12% from 3Q 2021). Profit margin: 4.6% (down from 6.4% in 3Q 2021). Revenue was in line with analyst estimates. 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 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥1,746, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 13x in the Tech industry in Japan. Total returns to shareholders of 189% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥2,170, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 266% over the past three years. Reported Earnings • Nov 19
Second quarter 2022 earnings released: EPS JP¥33.59 (vs JP¥6.67 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥8.40b (up 29% from 2Q 2021). Net income: JP¥804.0m (up 433% from 2Q 2021). Profit margin: 9.6% (up from 2.3% 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 34% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 11
First quarter 2022 earnings released: EPS JP¥8.45 (vs JP¥39.61 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥7.23b (up 31% from 1Q 2021). Net income: JP¥202.0m (up JP¥1.10b from 1Q 2021). Profit margin: 2.8% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. 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 72% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 19
Full year 2021 earnings released: EPS JP¥2.06 (vs JP¥152 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥26.7b (up 1.7% from FY 2020). Net income: JP¥47.0m (up JP¥3.49b from FY 2020). Profit margin: 0.2% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 67% per year, which means it is well ahead of earnings. Reported Earnings • Mar 16
Third quarter 2021 earnings released: EPS JP¥10.69 (vs JP¥56.47 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥6.92b (up 5.9% from 3Q 2020). Net income: JP¥243.0m (up JP¥1.52b from 3Q 2020). Profit margin: 3.5% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 68% per year, which means it is well ahead of earnings. Announcement • Jan 29
Sun Corporation announced that it has received ¥310.002076 million in funding On January 27, 2021, Sun Corporation (JASDAQ:6736) closed the transaction. The stock acquisition right and 1st unsecured convertible bond exercise period is from January 15, 2020 to April 30, 2021. Is New 90 Day High Low • Jan 22
New 90-day high: JP¥3,500 The company is up 69% from its price of JP¥2,070 on 23 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 23% over the same period. Announcement • Dec 30
Sun Corporation to Report Q3, 2021 Results on Feb 12, 2021 Sun Corporation announced that they will report Q3, 2021 results on Feb 12, 2021 Is New 90 Day High Low • Dec 16
New 90-day high: JP¥3,400 The company is up 51% from its price of JP¥2,253 on 17 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 Tech industry, which is up 15% over the same period.