Price Target Changed • May 07
Price target increased by 7.0% to JP¥78,381 Up from JP¥73,244, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of JP¥79,350. Stock is up 26% over the past year. The company is forecast to post earnings per share of JP¥2,048 for next year compared to JP¥1,836 last year. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥76,130, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥40,711 per share. New Risk • Apr 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.2% 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 • Apr 25
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: JP¥1,836 (up from JP¥1,644 in FY 2025). Revenue: JP¥1.17t (up 10% from FY 2025). Net income: JP¥445.2b (up 12% from FY 2025). Profit margin: 38% (in line with FY 2025). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 4.4%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Announcement • Apr 25
Keyence Corporation, Annual General Meeting, Jun 12, 2026 Keyence Corporation, Annual General Meeting, Jun 12, 2026. Announcement • Apr 21
Keyence Corporation to Report Fiscal Year 2026 Results on Apr 24, 2026 Keyence Corporation announced that they will report fiscal year 2026 results on Apr 24, 2026 Upcoming Dividend • Mar 11
Upcoming dividend of JP¥275 per share Eligible shareholders must have bought the stock before 18 March 2026. Payment date: 16 June 2026. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.6%). Reported Earnings • Jan 30
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥459 (up from JP¥421 in 3Q 2025). Revenue: JP¥289.3b (up 11% from 3Q 2025). Net income: JP¥111.2b (up 9.0% from 3Q 2025). Profit margin: 38% (in line with 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Dec 26
Keyence Corporation to Report Q3, 2026 Results on Jan 29, 2026 Keyence Corporation announced that they will report Q3, 2026 results on Jan 29, 2026 Declared Dividend • Nov 26
First half dividend of JP¥275 announced Shareholders will receive a dividend of JP¥275. Ex-date: 18th March 2026 Payment date: 16th June 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 35%. Reported Earnings • Oct 30
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: JP¥445 (up from JP¥397 in 2Q 2025). Revenue: JP¥284.2b (up 5.9% from 2Q 2025). Net income: JP¥107.8b (up 12% from 2Q 2025). Profit margin: 38% (up from 36% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. Announcement • Sep 27
Keyence Corporation to Report Q2, 2026 Results on Oct 29, 2025 Keyence Corporation announced that they will report Q2, 2026 results on Oct 29, 2025 Upcoming Dividend • Sep 11
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 18 September 2025. Payment date: 25 November 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.7%). Reported Earnings • Jul 30
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: JP¥380 (down from JP¥386 in 1Q 2025). Revenue: JP¥261.1b (up 5.6% from 1Q 2025). Net income: JP¥92.1b (down 1.5% from 1Q 2025). Profit margin: 35% (down from 38% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Jul 18
Final dividend of JP¥150 announced Shareholders will receive a dividend of JP¥150. Ex-date: 18th September 2025 Payment date: 25th November 2025 Dividend yield will be 0.6%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 21%. Announcement • Jul 02
Keyence Corporation to Report Q1, 2026 Results on Jul 29, 2025 Keyence Corporation announced that they will report Q1, 2026 results on Jul 29, 2025 Reported Earnings • Jun 19
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥1,644 (up from JP¥1,524 in FY 2024). Revenue: JP¥1.06t (up 9.5% from FY 2024). Net income: JP¥398.7b (up 7.8% from FY 2024). Profit margin: 38% (in line with FY 2024). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 1.3%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Announcement • May 21
Keyence Corporation (TSE:6861) acquired Cadenas Technologies Ag. Keyence Corporation (TSE:6861) acquired Cadenas Technologies Ag on May 20, 2025.
Keyence Corporation (TSE:6861) completed the acquisition of Cadenas Technologies Ag on May 20, 2025. Reported Earnings • Apr 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥1,644 (up from JP¥1,524 in FY 2024). Revenue: JP¥1.06t (up 9.5% from FY 2024). Net income: JP¥398.7b (up 7.8% from FY 2024). Profit margin: 38% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Announcement • Apr 25
Keyence Corporation, Annual General Meeting, Jun 13, 2025 Keyence Corporation, Annual General Meeting, Jun 13, 2025. Announcement • Mar 28
Keyence Corporation to Report Fiscal Year 2025 Results on Apr 25, 2025 Keyence Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on Apr 25, 2025 Upcoming Dividend • Mar 11
Upcoming dividend of JP¥175 per share Eligible shareholders must have bought the stock before 18 March 2025. Payment date: 17 June 2025. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 01
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: JP¥421 (up from JP¥360 in 3Q 2024). Revenue: JP¥259.6b (up 7.7% from 3Q 2024). Net income: JP¥102.0b (up 17% from 3Q 2024). Profit margin: 39% (up from 36% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Announcement • Jan 31
Keyence Corporation Provides Dividend Guidance for the Fiscal Year Ending March 20, 2025 Keyence Corporation provided dividend guidance for the fiscal year ending March 20, 2025. For the year, the company expects dividend of JPY 175.00 per share against JPY 150.00 per share. Announcement • Jan 03
Keyence Corporation to Report Q3, 2025 Results on Jan 31, 2025 Keyence Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 26
First half dividend of JP¥175 announced Shareholders will receive a dividend of JP¥175. Ex-date: 18th March 2025 Payment date: 17th June 2025 Dividend yield will be 0.5%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 30%. Cash payout ratio: 22%. Reported Earnings • Oct 30
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: JP¥397 (up from JP¥387 in 2Q 2024). Revenue: JP¥268.3b (up 10% from 2Q 2024). Net income: JP¥96.2b (up 2.4% from 2Q 2024). Profit margin: 36% (down from 39% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 28
Keyence Corporation to Report Q2, 2025 Results on Oct 29, 2024 Keyence Corporation announced that they will report Q2, 2025 results on Oct 29, 2024 Upcoming Dividend • Sep 12
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 20 November 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.9%). Lower than average of industry peers (1.6%). 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¥53,120, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 12x in the Electronic industry in Japan. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥40,671 per share. Reported Earnings • Jul 28
First quarter 2025 earnings released: EPS: JP¥386 (vs JP¥351 in 1Q 2024) First quarter 2025 results: EPS: JP¥386 (up from JP¥351 in 1Q 2024). Revenue: JP¥247.2b (up 11% from 1Q 2024). Net income: JP¥93.5b (up 9.9% from 1Q 2024). Profit margin: 38% (in line with 1Q 2024). Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. 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 11
Final dividend of JP¥150 announced Dividend of JP¥150 is the same as last year. Ex-date: 19th September 2024 Payment date: 20th November 2024 Dividend yield will be 0.4%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 19%. Announcement • Jun 30
Keyence Corporation to Report Q1, 2025 Results on Jul 26, 2024 Keyence Corporation announced that they will report Q1, 2025 results on Jul 26, 2024 Reported Earnings • Jun 19
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥1,524 (up from JP¥1,497 in FY 2023). Revenue: JP¥967.3b (up 4.9% from FY 2023). Net income: JP¥369.6b (up 1.8% from FY 2023). Profit margin: 38% (down from 39% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥1,524 (up from JP¥1,497 in FY 2023). Revenue: JP¥967.3b (up 4.9% from FY 2023). Net income: JP¥369.6b (up 1.8% from FY 2023). Profit margin: 38% (down from 39% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Keyence Corporation, Annual General Meeting, Jun 14, 2024 Keyence Corporation, Annual General Meeting, Jun 14, 2024. Announcement • Mar 31
Keyence Corporation to Report Fiscal Year 2024 Results on Apr 25, 2024 Keyence Corporation announced that they will report fiscal year 2024 results on Apr 25, 2024 Upcoming Dividend • Mar 11
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 18 March 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (1.4%). Reported Earnings • Feb 04
Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations Third quarter 2024 results: EPS: JP¥360 (down from JP¥376 in 3Q 2023). Revenue: JP¥241.1b (flat on 3Q 2023). Net income: JP¥87.4b (down 4.1% from 3Q 2023). Profit margin: 36% (down from 38% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
Keyence Corporation Provides Dividend Guidance for the Fiscal Year Ending March 20, 2024 Keyence Corporation provided dividend guidance for the fiscal year ending March 20, 2024. For the year, the company expects dividend of JPY 150.00 per share against JPY 150.00 per share paid a year ago. Announcement • Dec 29
Keyence Corporation to Report Q3, 2024 Results on Feb 02, 2024 Keyence Corporation announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: JP¥387 (down from JP¥417 in 2Q 2023). Revenue: JP¥243.8b (down 3.2% from 2Q 2023). Net income: JP¥93.9b (down 7.0% from 2Q 2023). Profit margin: 39% (down from 40% in 2Q 2023). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Oct 29
Keyence Corporation Declares Dividend for the Second Quarter of Fiscal Year Ending September 20, 2023, Payable on November 20, 2023; Provides Dividend Guidance for the Fiscal Year Ended March 20, 2024 Keyence Corporation declares dividend for the second quarter of fiscal year ending September 20, 2023. The company declared dividend of JPY 150.00 against JPY 150.00 paid a year ago, payable on November 20, 2023.For the full year ending March 20, 2024, the company expects JPY 150.00 against JPY 150.00 paid a year ago. Announcement • Oct 01
Keyence Corporation to Report Q2, 2024 Results on Oct 27, 2023 Keyence Corporation announced that they will report Q2, 2024 results on Oct 27, 2023 Upcoming Dividend • Sep 12
Upcoming dividend of JP¥150 per share at 0.5% yield Eligible shareholders must have bought the stock before 19 September 2023. Payment date: 21 November 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.3%). Lower than average of industry peers (1.4%). Reported Earnings • Jul 29
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: JP¥351 (up from JP¥328 in 1Q 2023). Revenue: JP¥222.3b (up 16% from 1Q 2023). Net income: JP¥85.1b (up 6.9% from 1Q 2023). Profit margin: 38% (down from 42% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 5.3%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Keyence Corporation Provides Dividend Forecast for the Year Ended March 20, 2024 Keyence Corporation provided dividend forecast of JPY 150 per share for the year ended March 20, 2024 compared to paid dividend of JPY 150 per share a year ago. Reported Earnings • Jun 18
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: JP¥1,497 (up from JP¥1,251 in FY 2022). Revenue: JP¥922.4b (up 22% from FY 2022). Net income: JP¥363.0b (up 20% from FY 2022). Profit margin: 39% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 29
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: JP¥1,497 (up from JP¥1,251 in FY 2022). Revenue: JP¥922.4b (up 22% from FY 2022). Net income: JP¥363.0b (up 20% from FY 2022). Profit margin: 39% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 10
Upcoming dividend of JP¥150 per share at 0.5% yield Eligible shareholders must have bought the stock before 17 March 2023. Payment date: 13 June 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (1.6%). Reported Earnings • Feb 02
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: JP¥360 (up from JP¥316 in 3Q 2022). Revenue: JP¥236.6b (up 25% from 3Q 2022). Net income: JP¥87.4b (up 14% from 3Q 2022). Profit margin: 37% (down from 40% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
Keyence Corporation to Report Q3, 2023 Results on Feb 01, 2023 Keyence Corporation announced that they will report Q3, 2023 results on Feb 01, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 4 highly experienced directors. 3 independent directors (7 non-independent directors). Director Masayuki Miki was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 30
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: JP¥417 (up from JP¥306 in 2Q 2022). Revenue: JP¥252.0b (up 36% from 2Q 2022). Net income: JP¥101.0b (up 36% from 2Q 2022). Profit margin: 40% (in line with 2Q 2022). Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 09
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.5%). Reported Earnings • Jul 30
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: JP¥328 (up from JP¥279 in 1Q 2022). Revenue: JP¥192.0b (up 13% from 1Q 2022). Net income: JP¥79.6b (up 18% from 1Q 2022). Profit margin: 42% (up from 40% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 13%, compared to a 10% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Jun 19
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥1,251 (up from JP¥813 in FY 2021). Revenue: JP¥755.2b (up 40% from FY 2021). Net income: JP¥303.4b (up 54% from FY 2021). Profit margin: 40% (up from 37% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 13%, compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Apr 30
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥1,251 (up from JP¥813 in FY 2021). Revenue: JP¥755.2b (up 40% from FY 2021). Net income: JP¥303.4b (up 54% from FY 2021). Profit margin: 40% (up from 37% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 12%, compared to a 10.0% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 2 independent directors (7 non-independent directors). Director Masayuki Miki was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 10
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 14 June 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.4%). Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥316 (up from JP¥198 in 3Q 2021). Revenue: JP¥190.1b (up 38% from 3Q 2021). Net income: JP¥76.6b (up 60% from 3Q 2021). Profit margin: 40% (up from 35% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 12%, compared to a 9.3% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS JP¥306 (vs JP¥197 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥185.3b (up 44% from 2Q 2021). Net income: JP¥74.2b (up 55% from 2Q 2021). Profit margin: 40% (up from 37% in 2Q 2021). 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 but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 09
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 24 November 2021. Trailing yield: 0.3%. Lower than top quartile of Japanese dividend payers (3.0%). Lower than average of industry peers (1.0%). Reported Earnings • Aug 01
First quarter 2022 earnings released: EPS JP¥279 (vs JP¥151 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥170.0b (up 55% from 1Q 2021). Net income: JP¥67.6b (up 85% from 1Q 2021). Profit margin: 40% (up from 33% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Reported Earnings • Jun 19
Full year 2021 earnings released: EPS JP¥813 (vs JP¥817 in FY 2020) The company reported a soft full year result with weaker revenues, although earnings and profit margins were flat. Full year 2021 results: Revenue: JP¥538.1b (down 2.5% from FY 2020). Net income: JP¥197.3b (flat on FY 2020). Profit margin: 37% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • Apr 30
Full year 2021 earnings released: EPS JP¥813 (vs JP¥817 in FY 2020) The company reported a soft full year result with weaker revenues, although earnings and profit margins were flat. Full year 2021 results: Revenue: JP¥538.1b (down 2.5% from FY 2020). Net income: JP¥197.3b (flat on FY 2020). Profit margin: 37% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 11
Upcoming Dividend of JP¥100.00 Per Share Will be paid on the 15th of June to those who are registered shareholders by the 18th of March. The trailing yield of 0.4% is below the top quartile of Japanese dividend payers (2.8%), and is lower than industry peers (1.2%). Is New 90 Day High Low • Feb 15
New 90-day high: JP¥59,080 The company is up 12% from its price of JP¥52,680 on 17 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥17,358 per share. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS JP¥198 (vs JP¥203 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥138.0b (up 2.7% from 3Q 2020). Net income: JP¥48.0b (down 2.4% from 3Q 2020). Profit margin: 35% (down from 37% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 16%, compared to a 7.1% growth forecast for the Electronic industry in Japan. Is New 90 Day High Low • Dec 17
New 90-day high: JP¥55,220 The company is up 19% from its price of JP¥46,580 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥17,377 per share.