Upcoming Dividend • Jun 22
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 27 August 2026. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.0%). Announcement • Jun 09
Sumida Corporation to Report Q2, 2026 Results on Jul 31, 2026 Sumida Corporation announced that they will report Q2, 2026 results on Jul 31, 2026 Reported Earnings • May 01
First quarter 2026 earnings released: EPS: JP¥21.95 (vs JP¥17.70 in 1Q 2025) First quarter 2026 results: EPS: JP¥21.95 (up from JP¥17.70 in 1Q 2025). Revenue: JP¥38.4b (up 8.6% from 1Q 2025). Net income: JP¥726.0m (up 24% from 1Q 2025). Profit margin: 1.9% (up from 1.7% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Apr 21
Sumida Corporation to Report Q1, 2026 Results on Apr 30, 2026 Sumida Corporation announced that they will report Q1, 2026 results on Apr 30, 2026 Declared Dividend • Apr 11
Final dividend of JP¥26.00 announced Dividend of JP¥26.00 is the same as last year. Ex-date: 29th June 2026 Payment date: 27th August 2026 Dividend yield will be 4.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 21
Sumida Corporation Announces Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 6, 2026 SUMIDA CORPORATION announced that it has resolved, at a meeting of the Board of Directors held on February 20, 2026, to pay a year-end dividend from the retained earnings for the fiscal year ended December 31, 2025. The details are as follows. Dividend amount is JPY 27 per share. Record date December 31, 2025. Effective date is March 6, 2026. Reported Earnings • Feb 07
Full year 2025 earnings released: EPS: JP¥109 (vs JP¥17.94 in FY 2024) Full year 2025 results: EPS: JP¥109 (up from JP¥17.94 in FY 2024). Revenue: JP¥147.2b (up 2.2% from FY 2024). Net income: JP¥3.62b (up JP¥3.03b from FY 2024). Profit margin: 2.5% (up from 0.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Feb 06
Sumida Corporation, Annual General Meeting, Mar 26, 2026 Sumida Corporation, Annual General Meeting, Mar 26, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 March 2026. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Dec 03
Sumida Corporation to Report Fiscal Year 2025 Results on Feb 06, 2026 Sumida Corporation announced that they will report fiscal year 2025 results on Feb 06, 2026 New Risk • Nov 05
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: JP¥30.55 (vs JP¥22.88 in 3Q 2024) Third quarter 2025 results: EPS: JP¥30.55 (up from JP¥22.88 in 3Q 2024). Revenue: JP¥36.9b (up 1.2% from 3Q 2024). Net income: JP¥1.01b (up 34% from 3Q 2024). Profit margin: 2.7% (up from 2.1% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 28
First half dividend of JP¥27.00 announced Dividend of JP¥27.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 6th March 2026 Dividend yield will be 5.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio). However, it is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.9% to bring the payout ratio under control, which is less than the 78% EPS growth achieved over the last 5 years. New Risk • Aug 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: JP¥32.73 (vs JP¥4.17 in 2Q 2024) Second quarter 2025 results: EPS: JP¥32.73 (up from JP¥4.17 in 2Q 2024). Revenue: JP¥35.8b (down 2.6% from 2Q 2024). Net income: JP¥1.08b (up JP¥945.0m from 2Q 2024). Profit margin: 3.0% (up from 0.4% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Aug 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Buy Or Sell Opportunity • Jul 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.0% to JP¥1,003. The fair value is estimated to be JP¥835, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has declined by 25%. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 27 August 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.4%. Within top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.9%). Reported Earnings • May 01
First quarter 2025 earnings released: EPS: JP¥17.70 (vs JP¥10.67 in 1Q 2024) First quarter 2025 results: EPS: JP¥17.70 (up from JP¥10.67 in 1Q 2024). Revenue: JP¥35.4b (down 2.5% from 1Q 2024). Net income: JP¥585.0m (up 68% from 1Q 2024). Profit margin: 1.7% (up from 1.0% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Apr 11
Final dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 27th June 2025 Payment date: 27th August 2025 Dividend yield will be 6.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (296% earnings payout ratio). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 228% to bring the payout ratio under control. However, EPS has declined by 21% over the last 5 years so the company would need to reverse this trend. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥769, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 4.3% over the past three years. Announcement • Mar 28
Sumida Corporation Appoints Members of the Committees Sumida Corporation announced at its AGM held on March 26, 2025, the Board of Directors of the Company appointed the members of the committees and Executive Officers by resolution as follows. Nomination Committee: Tatsuo Umemoto; Yan Hok Fan; Shigeyuki Yawata; Albert Kirchmann; Yoshiyuki Honda. Audit Committee: Ryo Hayakawa; Sawako Ueno; Yoshiyuki Honda; Junko Dochi. Compensation Committee: Tatsuo Umemoto; Yan Hok; Fan Shigeyuki Yawata; Albert Kirchmann; Yoshiyuki Honda. New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 47% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Dividend is not well covered by earnings (91% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Announcement • Feb 21
Sumida Corporation Announces Year-End Dividend for the Fiscal Year Ended December 31, 2024, Effective March 6, 2025 Sumida Corporation announced that it has resolved, at a meeting of the Board of Directors held on February 21, 2025, to pay a year-end dividend from the retained earnings for the fiscal year ended December 31, 2024. The details are as follows: Dividend: JPY 27 per share, Total amount of dividend: JPY 892 million, Record date: December 31, 2024 and Effective date: March 6, 2025. Reported Earnings • Feb 08
Full year 2024 earnings released: EPS: JP¥17.94 (vs JP¥167 in FY 2023) Full year 2024 results: EPS: JP¥17.94 (down from JP¥167 in FY 2023). Revenue: JP¥144.0b (down 2.5% from FY 2023). Net income: JP¥590.0m (down 88% from FY 2023). Profit margin: 0.4% (down from 3.4% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 06 March 2025. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 6.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Announcement • Dec 03
Sumida Corporation to Report Fiscal Year 2024 Results on Feb 07, 2025 Sumida Corporation announced that they will report fiscal year 2024 results on Feb 07, 2025 Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: JP¥22.88 (vs JP¥33.19 in 3Q 2023) Third quarter 2024 results: EPS: JP¥22.88 (down from JP¥33.19 in 3Q 2023). Revenue: JP¥36.5b (down 3.3% from 3Q 2023). Net income: JP¥756.0m (down 30% from 3Q 2023). Profit margin: 2.1% (down from 2.9% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥873, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 33% over the past three years. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: JP¥4.20 (vs JP¥71.83 in 2Q 2023) Second quarter 2024 results: EPS: JP¥4.20 (down from JP¥71.83 in 2Q 2023). Revenue: JP¥36.8b (down 2.4% from 2Q 2023). Net income: JP¥138.0m (down 93% from 2Q 2023). Profit margin: 0.4% (down from 5.4% in 2Q 2023). The decrease in margin was primarily driven by higher 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 13% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 02
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 27th December 2024 Payment date: 6th March 2025 Dividend yield will be 5.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 28 August 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.4%). Reported Earnings • May 01
First quarter 2024 earnings released: EPS: JP¥10.67 (vs JP¥45.38 in 1Q 2023) First quarter 2024 results: EPS: JP¥10.67 (down from JP¥45.38 in 1Q 2023). Revenue: JP¥36.3b (up 2.1% from 1Q 2023). Net income: JP¥348.0m (down 72% from 1Q 2023). Profit margin: 1.0% (down from 3.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Apr 11
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Yoshiyuki Honda was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: JP¥167 (vs JP¥188 in FY 2022) Full year 2023 results: EPS: JP¥167 (down from JP¥188 in FY 2022). Revenue: JP¥147.7b (up 6.5% from FY 2022). Net income: JP¥5.06b (flat on FY 2022). Profit margin: 3.4% (down from 3.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 03
Sumida Corporation to Report Q1, 2024 Results on Apr 30, 2024 Sumida Corporation announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: JP¥167 (vs JP¥188 in FY 2022) Full year 2023 results: EPS: JP¥167 (down from JP¥188 in FY 2022). Revenue: JP¥147.7b (up 6.5% from FY 2022). Net income: JP¥5.06b (flat on FY 2022). Profit margin: 3.4% (down from 3.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
Sumida Corporation, Annual General Meeting, Mar 26, 2024 Sumida Corporation, Annual General Meeting, Mar 26, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥24.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 04 March 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.5%). Announcement • Dec 05
Sumida Corporation to Report Fiscal Year 2023 Results on Feb 07, 2024 Sumida Corporation announced that they will report fiscal year 2023 results on Feb 07, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: JP¥33.17 (vs JP¥76.30 in 3Q 2022) Third quarter 2023 results: EPS: JP¥33.17 (down from JP¥76.30 in 3Q 2022). Revenue: JP¥37.7b (down 2.7% from 3Q 2022). Net income: JP¥1.08b (down 48% from 3Q 2022). Profit margin: 2.9% (down from 5.4% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: JP¥71.85 (vs JP¥22.73 in 2Q 2022) Second quarter 2023 results: EPS: JP¥71.85 (up from JP¥22.73 in 2Q 2022). Revenue: JP¥37.7b (up 15% from 2Q 2022). Net income: JP¥2.04b (up 231% from 2Q 2022). Profit margin: 5.4% (up from 1.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be JP¥1,779, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 60%. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥23.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 28 August 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). New Risk • Jun 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (103% net debt to equity). 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 (7.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Buying Opportunity • May 23
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be JP¥1,924, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 60%. Valuation Update With 7 Day Price Move • May 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,373, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 13x in the Electronic industry in Japan. Total returns to shareholders of 107% over the past three years. Buying Opportunity • May 01
Now 23% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be JP¥2,071, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 60%. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: JP¥188 (vs JP¥96.68 in FY 2021) Full year 2022 results: EPS: JP¥188 (up from JP¥96.68 in FY 2021). Revenue: JP¥138.6b (up 32% from FY 2021). Net income: JP¥5.10b (up 94% from FY 2021). Profit margin: 3.7% (up from 2.5% in FY 2021). 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 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥188 (vs JP¥96.68 in FY 2021) Full year 2022 results: EPS: JP¥188 (up from JP¥96.68 in FY 2021). Revenue: JP¥138.6b (up 32% from FY 2021). Net income: JP¥5.10b (up 94% from FY 2021). Profit margin: 3.7% (up from 2.5% 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 51% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
Sumida Corporation, Annual General Meeting, Mar 27, 2023 Sumida Corporation, Annual General Meeting, Mar 27, 2023. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,665, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 03 March 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.8%). Announcement • Dec 08
Sumida Corporation to Report Fiscal Year 2022 Results on Feb 07, 2023 Sumida Corporation announced that they will report fiscal year 2022 results on Feb 07, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: JP¥76.30 (vs JP¥32.91 in 3Q 2021) Third quarter 2022 results: EPS: JP¥76.30 (up from JP¥32.91 in 3Q 2021). Revenue: JP¥38.8b (up 45% from 3Q 2021). Net income: JP¥2.08b (up 132% from 3Q 2021). Profit margin: 5.4% (up from 3.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: JP¥76.34 (vs JP¥32.91 in 3Q 2021) Third quarter 2022 results: EPS: JP¥76.34 (up from JP¥32.91 in 3Q 2021). Revenue: JP¥38.8b (up 45% from 3Q 2021). Net income: JP¥2.08b (up 132% from 3Q 2021). Profit margin: 5.4% (up from 3.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 22% share price gain to JP¥1,135, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 6.3% over the past three years. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: JP¥22.73 (vs JP¥41.70 in 2Q 2021) Second quarter 2022 results: EPS: JP¥22.73 (down from JP¥41.70 in 2Q 2021). Revenue: JP¥32.6b (up 27% from 2Q 2021). Net income: JP¥618.0m (down 46% from 2Q 2021). Profit margin: 1.9% (down from 4.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.6%). Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: JP¥12.47 (vs JP¥23.69 in 1Q 2021) First quarter 2022 results: EPS: JP¥12.47 (down from JP¥23.69 in 1Q 2021). Revenue: JP¥29.6b (up 18% from 1Q 2021). Net income: JP¥339.0m (down 47% from 1Q 2021). Profit margin: 1.1% (down from 2.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Apr 08
Sumida Corporation to Report Q1, 2022 Results on Apr 28, 2022 Sumida Corporation announced that they will report Q1, 2022 results on Apr 28, 2022 Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 15% share price decline to JP¥772, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 43% over the past three years. Reported Earnings • Feb 07
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥96.68 (up from JP¥30.49 in FY 2020). Revenue: JP¥104.9b (up 24% from FY 2020). Net income: JP¥2.63b (up 217% from FY 2020). Profit margin: 2.5% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 06
Sumida Corporation, Annual General Meeting, Mar 25, 2022 Sumida Corporation, Annual General Meeting, Mar 25, 2022. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 03 March 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥1,122, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥1,243, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Electronic industry in Japan. Total loss to shareholders of 5.5% over the past three years. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS JP¥41.74 (vs JP¥33.18 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥25.8b (up 46% from 2Q 2020). Net income: JP¥1.14b (up JP¥2.04b from 2Q 2020). Profit margin: 4.4% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • May 01
First quarter 2021 earnings released: EPS JP¥23.69 (vs JP¥17.72 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥25.0b (up 22% from 1Q 2020). Net income: JP¥644.0m (up JP¥1.13b from 1Q 2020). Profit margin: 2.6% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 15% share price gain to JP¥1,159, the stock is trading at a trailing P/E ratio of 38x, up from the previous P/E ratio of 32.9x. This compares to an average P/E of 17x in the Electronic industry in Japan. Total return to shareholders over the past three years is a loss of 24%. Announcement • Feb 28
Sumida Corporation to Report Q1, 2021 Results on Apr 28, 2021 Sumida Corporation announced that they will report Q1, 2021 results on Apr 28, 2021 Is New 90 Day High Low • Feb 26
New 90-day low: JP¥950 The company is down 11% from its price of JP¥1,072 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Announcement • Feb 10
Sumida Corporation, Annual General Meeting, Mar 25, 2021 Sumida Corporation, Annual General Meeting, Mar 25, 2021.