Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥186 (vs JP¥206 in FY 2025) Full year 2026 results: EPS: JP¥186 (down from JP¥206 in FY 2025). Revenue: JP¥37.0b (down 1.4% from FY 2025). Net income: JP¥2.67b (down 9.7% from FY 2025). Profit margin: 7.2% (down from 7.9% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 15
Icom Incorporated, Annual General Meeting, Jun 24, 2026 Icom Incorporated, Annual General Meeting, Jun 24, 2026. Buy Or Sell Opportunity • May 12
Now 21% overvalued Over the last 90 days, the stock has fallen 2.2% to JP¥2,997. The fair value is estimated to be JP¥2,481, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 5.6%. Announcement • May 10
Icom Incorporated to Report Fiscal Year 2026 Results on May 15, 2026 Icom Incorporated announced that they will report fiscal year 2026 results on May 15, 2026 Buy Or Sell Opportunity • Apr 16
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.2% to JP¥3,240. The fair value is estimated to be JP¥2,658, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 5.6%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.9%). Buy Or Sell Opportunity • Feb 19
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to JP¥3,145. The fair value is estimated to be JP¥2,538, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 5.6%. New Risk • Feb 11
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: 5.6% Last year net profit margin: 8.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.6% net profit margin). Declared Dividend • Dec 03
First half dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.2%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 29
Icom Incorporated to Report Q3, 2026 Results on Feb 10, 2026 Icom Incorporated announced that they will report Q3, 2026 results on Feb 10, 2026 Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,712, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 12x in the Communications industry in Japan. Total returns to shareholders of 9.4% over the past three years. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: JP¥11.91 (vs JP¥7.87 in 2Q 2025) Second quarter 2026 results: EPS: JP¥11.91 (up from JP¥7.87 in 2Q 2025). Revenue: JP¥8.89b (down 2.4% from 2Q 2025). Net income: JP¥171.0m (up 51% from 2Q 2025). Profit margin: 1.9% (up from 1.2% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Announcement • Oct 20
Icom Incorporated Revises Consolidated Earnings Forecast for the First Six Months Ended September 30, 2025 Icom Incorporated revised consolidated earnings forecast for the first six months ended September 30, 2025. For the period, the company expects net sales of JPY 17,010 million, operating profit of JPY 650 million and profit attributable to owners of parent of JPY 430 million or JPY 29.96 per basic share compared to previous guidance of net sales of JPY 18,400 million, operating profit of JPY 1,210 million and profit attributable to owners of parent of JPY 1,200 million or JPY 83.61 per basic share. Reason for the Revision: During the second quarter, demand remained weak in both the commercial and consumer markets. This was due to the impact of excess inventory in the Americas, coupled with heightened geopolitical risks and uncertainty about the economic outlook stemming from the U.S. government's tariff policies. Although the Group worked to expand sales by reviewing the sales structure of U.S. subsidiary and launching campaigns, net sales are expected to fall below the initial forecast. Regarding profits, in addition to a decrease in gross profit due to lower sales, a settlement payment (JPY 400 million) related to the resolution of a patent infringement lawsuit will be recorded as an extraordinary loss. Consequently, profits are also expected to fall below the initial forecast. Considering these circumstances, the consolidated earnings forecast for the second quarter (interim period) is revised as stated above. Announcement • Sep 02
Icom Incorporated to Report Q2, 2026 Results on Nov 11, 2025 Icom Incorporated announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: JP¥18.19 (vs JP¥65.29 in 1Q 2025) First quarter 2026 results: EPS: JP¥18.19 (down from JP¥65.29 in 1Q 2025). Revenue: JP¥8.12b (down 7.5% from 1Q 2025). Net income: JP¥261.0m (down 72% from 1Q 2025). Profit margin: 3.2% (down from 11% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 29th September 2025 Payment date: 3rd December 2025 Dividend yield will be 2.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (254% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 31
Icom Incorporated to Report Q1, 2026 Results on Aug 12, 2025 Icom Incorporated announced that they will report Q1, 2026 results on Aug 12, 2025 Reported Earnings • May 18
Full year 2025 earnings released: EPS: JP¥206 (vs JP¥241 in FY 2024) Full year 2025 results: EPS: JP¥206 (down from JP¥241 in FY 2024). Revenue: JP¥37.5b (flat on FY 2024). Net income: JP¥2.95b (down 15% from FY 2024). Profit margin: 7.9% (down from 9.3% in FY 2024). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Icom Incorporated, Annual General Meeting, Jun 25, 2025 Icom Incorporated, Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.0%). Announcement • Mar 01
Icom Incorporated to Report Fiscal Year 2025 Results on May 13, 2025 Icom Incorporated announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥68.21 (vs JP¥52.61 in 3Q 2024) Third quarter 2025 results: EPS: JP¥68.21 (up from JP¥52.61 in 3Q 2024). Revenue: JP¥8.72b (down 8.1% from 3Q 2024). Net income: JP¥979.0m (up 30% from 3Q 2024). Profit margin: 11% (up from 8.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 04
First half dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (38% 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 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Icom Incorporated to Report Q3, 2025 Results on Feb 13, 2025 Icom Incorporated announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: JP¥7.87 (vs JP¥47.73 in 2Q 2024) Second quarter 2025 results: EPS: JP¥7.87 (down from JP¥47.73 in 2Q 2024). Revenue: JP¥9.11b (down 3.5% from 2Q 2024). Net income: JP¥113.0m (down 84% from 2Q 2024). Profit margin: 1.2% (down from 7.3% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 43% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (3.5%). Announcement • Aug 27
Icom Incorporated to Report Q2, 2025 Results on Nov 12, 2024 Icom Incorporated announced that they will report Q2, 2025 results on Nov 12, 2024 Reported Earnings • Aug 18
First quarter 2025 earnings released: EPS: JP¥65.29 (vs JP¥79.22 in 1Q 2024) First quarter 2025 results: EPS: JP¥65.29 (down from JP¥79.22 in 1Q 2024). Revenue: JP¥8.79b (up 1.5% from 1Q 2024). Net income: JP¥937.0m (down 18% from 1Q 2024). Profit margin: 11% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to JP¥2,573, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 12x in the Communications industry in Japan. Total returns to shareholders of 16% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). 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 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Representative Director & President Hiroshi Nakaoka was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥241 (vs JP¥179 in FY 2023) Full year 2024 results: EPS: JP¥241 (up from JP¥179 in FY 2023). Revenue: JP¥37.1b (up 8.6% from FY 2023). Net income: JP¥3.46b (up 35% from FY 2023). Profit margin: 9.3% (up from 7.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Icom Incorporated, Annual General Meeting, Jun 25, 2024 Icom Incorporated, Annual General Meeting, Jun 25, 2024. Announcement • Mar 28
Icom Incorporated to Report Fiscal Year 2024 Results on May 14, 2024 Icom Incorporated announced that they will report fiscal year 2024 results on May 14, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥57.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: JP¥52.60 (vs JP¥37.07 in 3Q 2023) Third quarter 2024 results: EPS: JP¥52.60 (up from JP¥37.07 in 3Q 2023). Revenue: JP¥9.48b (up 8.3% from 3Q 2023). Net income: JP¥755.0m (up 42% from 3Q 2023). Profit margin: 8.0% (up from 6.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Icom Incorporated to Report Q3, 2024 Results on Feb 13, 2024 Icom Incorporated announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥47.73 (vs JP¥45.15 in 2Q 2023) Second quarter 2024 results: EPS: JP¥47.73 (up from JP¥45.15 in 2Q 2023). Revenue: JP¥9.44b (up 14% from 2Q 2023). Net income: JP¥685.0m (up 5.7% from 2Q 2023). Profit margin: 7.3% (down from 7.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has increased by 19% 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 • Sep 21
Upcoming dividend of JP¥25.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (2.7%). Announcement • Aug 30
Icom Incorporated to Report Q2, 2024 Results on Nov 09, 2023 Icom Incorporated announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: JP¥79.22 (vs JP¥38.25 in 1Q 2023) First quarter 2024 results: EPS: JP¥79.22 (up from JP¥38.25 in 1Q 2023). Revenue: JP¥8.66b (up 7.7% from 1Q 2023). Net income: JP¥1.14b (up 107% from 1Q 2023). Profit margin: 13% (up from 6.8% in 1Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Communications industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Icom Incorporated (TSE:6820) acquired Macrotechnos Company Limited. Icom Incorporated (TSE:6820) acquired Macrotechnos Company Limited on July 13, 2023. Post-acquisition, Macrotechnos will became wholly owned subsidiary of Icom. Ending September 2022, Macrotechnos reported sale of ¥236 million
Icom Incorporated (TSE:6820) completed the acquisition of Macrotechnos Company Limited on July 13, 2023 Announcement • Jun 03
Icom Incorporated to Report Q1, 2024 Results on Aug 10, 2023 Icom Incorporated announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥179 (vs JP¥76.16 in FY 2022) Full year 2023 results: EPS: JP¥179 (up from JP¥76.16 in FY 2022). Revenue: JP¥34.2b (up 21% from FY 2022). Net income: JP¥2.57b (up 136% from FY 2022). Profit margin: 7.5% (up from 3.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 11
Icom Incorporated, Annual General Meeting, Jun 27, 2023 Icom Incorporated, Annual General Meeting, Jun 27, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥28.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥37.06 (vs JP¥11.64 in 3Q 2022) Third quarter 2023 results: EPS: JP¥37.06 (up from JP¥11.64 in 3Q 2022). Revenue: JP¥8.75b (up 31% from 3Q 2022). Net income: JP¥532.0m (up 219% from 3Q 2022). Profit margin: 6.1% (up from 2.5% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Announcement • Dec 10
Icom Incorporated to Report Q3, 2023 Results on Feb 09, 2023 Icom Incorporated announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥45.15 (vs JP¥6.20 in 2Q 2022) Second quarter 2023 results: EPS: JP¥45.15 (up from JP¥6.20 in 2Q 2022). Revenue: JP¥8.32b (up 28% from 2Q 2022). Net income: JP¥648.0m (up JP¥559.0m from 2Q 2022). Profit margin: 7.8% (up from 1.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥45.15 (vs JP¥6.20 in 2Q 2022) Second quarter 2023 results: EPS: JP¥45.15 (up from JP¥6.20 in 2Q 2022). Revenue: JP¥8.32b (up 28% from 2Q 2022). Net income: JP¥648.0m (up JP¥559.0m from 2Q 2022). Profit margin: 7.8% (up from 1.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.0%). Announcement • Sep 02
Icom Incorporated to Report Q2, 2023 Results on Nov 10, 2022 Icom Incorporated announced that they will report Q2, 2023 results on Nov 10, 2022 Announcement • Aug 11
Icom Incorporated Provides Earnings Guidance for the Six Months Ending September 30, 2022; Provides Earnings Guidance for the Year Ending March 31, 2023 Icom Incorporated provides earnings guidance for the six months ending September 30, 2022. For the six months, the company expects net sales of JPY 14,300 million, operating profit of JPY 90 million, profit attributable to owners of parent of JPY 120 million or JPY 8.36 per share. For the year ending March 31, 2023, the company expects net sales of JPY 29,000 million, operating profit of JPY 1,120 million, profit attributable to owners of parent of JPY 870 million or JPY 60.62 per share. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥38.25 (vs JP¥35.95 in 1Q 2022) First quarter 2023 results: EPS: JP¥38.25 (up from JP¥35.95 in 1Q 2022). Revenue: JP¥8.04b (up 9.3% from 1Q 2022). Net income: JP¥549.0m (up 6.4% from 1Q 2022). Profit margin: 6.8% (down from 7.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jun 19
Icom Incorporated to Report Q1, 2023 Results on Aug 09, 2022 Icom Incorporated announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥76.15 (vs JP¥120 in FY 2021) Full year 2022 results: EPS: JP¥76.15 (down from JP¥120 in FY 2021). Revenue: JP¥28.3b (up 1.2% from FY 2021). Net income: JP¥1.09b (down 37% from FY 2021). Profit margin: 3.9% (down from 6.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Announcement • May 12
Icom Incorporated, Annual General Meeting, Jun 28, 2022 Icom Incorporated, Annual General Meeting, Jun 28, 2022. Announcement • Apr 08
Icom Incorporated to Report Fiscal Year 2022 Results on May 12, 2022 Icom Incorporated announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.9%). Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥11.63 (down from JP¥34.45 in 3Q 2021). Revenue: JP¥6.70b (down 9.4% from 3Q 2021). Net income: JP¥167.0m (down 66% from 3Q 2021). Profit margin: 2.5% (down from 6.7% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS JP¥6.20 (vs JP¥8.18 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥6.52b (up 1.4% from 2Q 2021). Net income: JP¥89.0m (down 25% from 2Q 2021). Profit margin: 1.4% (down from 1.8% 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 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (2.3%). Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥35.95 (vs JP¥24.10 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¥7.35b (up 44% from 1Q 2021). Net income: JP¥516.0m (up JP¥869.0m from 1Q 2021). Profit margin: 7.0% (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 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥120 (vs JP¥130 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥27.9b (down 8.5% from FY 2020). Net income: JP¥1.74b (down 10.0% from FY 2020). Profit margin: 6.2% (down from 6.3% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (1.8%). Announcement • Mar 04
Icom Incorporated to Report Fiscal Year 2021 Results on May 13, 2021 Icom Incorporated announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Feb 15
New 90-day high: JP¥2,922 The company is up 1.0% from its price of JP¥2,879 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Communications industry, which is also up 1.0% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS JP¥34.44 (vs JP¥11.85 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥7.40b (up 14% from 3Q 2020). Net income: JP¥495.0m (up 183% from 3Q 2020). Profit margin: 6.7% (up from 2.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Dec 27
Icom Incorporated to Report Q3, 2021 Results on Feb 10, 2021 Icom Incorporated announced that they will report Q3, 2021 results on Feb 10, 2021 Is New 90 Day High Low • Dec 22
New 90-day low: JP¥2,624 The company is down 4.0% from its price of JP¥2,737 on 23 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 3.0% over the same period. Announcement • Oct 10
Icom Incorporated to Report Q2, 2021 Results on Nov 11, 2020 Icom Incorporated announced that they will report Q2, 2021 results on Nov 11, 2020 Announcement • Jul 05
Icom Incorporated to Report Q1, 2021 Results on Jul 31, 2020 Icom Incorporated announced that they will report Q1, 2021 results on Jul 31, 2020