Announcement • Jun 01
Aichi Tokei Denki Co., Ltd. to Report Q1, 2027 Results on Jul 31, 2026 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2027 results on Jul 31, 2026 Reported Earnings • May 09
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: JP¥312 (up from JP¥230 in FY 2025). Revenue: JP¥59.1b (up 8.9% from FY 2025). Net income: JP¥4.80b (up 36% from FY 2025). Profit margin: 8.1% (up from 6.5% in FY 2025). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 7.9% 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 increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). New Risk • Feb 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.3% average weekly change). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥91.68 (vs JP¥61.26 in 3Q 2025) Third quarter 2026 results: EPS: JP¥91.68 (up from JP¥61.26 in 3Q 2025). Revenue: JP¥14.1b (up 5.5% from 3Q 2025). Net income: JP¥1.41b (up 50% from 3Q 2025). Profit margin: 10.0% (up from 7.1% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% 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 5% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 04
Aichi Tokei Denki Co., Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Aichi Tokei Denki Co., Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Nov 26
First half dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (16% 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 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. Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: JP¥42.85 (vs JP¥36.42 in 2Q 2025) Second quarter 2026 results: EPS: JP¥42.85 (up from JP¥36.42 in 2Q 2025). Revenue: JP¥15.0b (up 9.1% from 2Q 2025). Net income: JP¥660.0m (up 18% from 2Q 2025). Profit margin: 4.4% (up from 4.1% in 2Q 2025). The increase in margin was driven by higher revenue. 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 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 25 November 2025. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Announcement • Sep 01
Aichi Tokei Denki Co., Ltd. to Report Q2, 2026 Results on Nov 04, 2025 Aichi Tokei Denki Co., Ltd. announced that they will report Q2, 2026 results on Nov 04, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥50.19 (vs JP¥34.49 in 1Q 2025) First quarter 2026 results: EPS: JP¥50.19 (up from JP¥34.49 in 1Q 2025). Revenue: JP¥12.5b (down 2.2% from 1Q 2025). Net income: JP¥772.0m (up 46% from 1Q 2025). Profit margin: 6.2% (up from 4.1% in 1Q 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 but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 29th September 2025 Payment date: 25th November 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (40% 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 8.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 29
Full year 2025 earnings released: EPS: JP¥230 (vs JP¥207 in FY 2024) Full year 2025 results: EPS: JP¥230 (up from JP¥207 in FY 2024). Revenue: JP¥54.3b (up 6.0% from FY 2024). Net income: JP¥3.53b (up 11% from FY 2024). Profit margin: 6.5% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 31
Aichi Tokei Denki Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • May 11
Full year 2025 earnings released: EPS: JP¥230 (vs JP¥207 in FY 2024) Full year 2025 results: EPS: JP¥230 (up from JP¥207 in FY 2024). Revenue: JP¥54.3b (up 6.0% from FY 2024). Net income: JP¥3.53b (up 11% from FY 2024). Profit margin: 6.5% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 25, 2025 Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Announcement • Mar 11
Aichi Tokei Denki Co., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 Aichi Tokei Denki Co., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥61.26 (vs JP¥59.07 in 3Q 2024) Third quarter 2025 results: EPS: JP¥61.26 (up from JP¥59.07 in 3Q 2024). Revenue: JP¥13.3b (up 6.3% from 3Q 2024). Net income: JP¥942.0m (up 3.9% from 3Q 2024). Profit margin: 7.1% (down from 7.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Announcement • Dec 19
Aichi Tokei Denki Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Aichi Tokei Denki Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 26
First half dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 3.5%, 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 (37% cash payout ratio). The dividend has increased by an average of 8.8% 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 decline by 55% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.2% EPS decline seen over the last 5 years. Reported Earnings • Nov 03
Second quarter 2025 earnings released: EPS: JP¥36.42 (vs JP¥62.14 in 2Q 2024) Second quarter 2025 results: EPS: JP¥36.42 (down from JP¥62.14 in 2Q 2024). Revenue: JP¥13.8b (flat on 2Q 2024). Net income: JP¥560.0m (down 41% from 2Q 2024). Profit margin: 4.1% (down from 6.9% in 2Q 2024). 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 9% per year. Announcement • Sep 27
Aichi Tokei Denki Co., Ltd. to Report Q2, 2025 Results on Nov 01, 2024 Aichi Tokei Denki Co., Ltd. announced that they will report Q2, 2025 results on Nov 01, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 27 November 2024. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,906, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 33% over the past three years. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥32.56 (vs JP¥44.66 in 1Q 2024) First quarter 2025 results: EPS: JP¥32.56 (down from JP¥44.66 in 1Q 2024). Revenue: JP¥11.8b (up 7.4% from 1Q 2024). Net income: JP¥500.0m (down 27% from 1Q 2024). Profit margin: 4.2% (down from 6.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 2 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 6% per year whereas the company’s share price has increased by 7% per year. New Risk • Aug 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (212% cash payout ratio). Share price has been volatile over the past 3 months (5.6% average weekly change). Declared Dividend • Jul 11
Final dividend of JP¥35.00 announced Shareholders will receive a dividend of JP¥35.00. Ex-date: 27th September 2024 Payment date: 27th November 2024 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (212% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥207 (down from JP¥225 in FY 2023). Revenue: JP¥51.2b (up 2.1% from FY 2023). Net income: JP¥3.17b (down 8.2% from FY 2023). Profit margin: 6.2% (down from 6.9% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 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 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 06
Aichi Tokei Denki Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥207 (down from JP¥225 in FY 2023). Revenue: JP¥51.2b (up 2.1% from FY 2023). Net income: JP¥3.17b (down 8.2% from FY 2023). Profit margin: 6.2% (down from 6.9% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 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 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 21, 2024 Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 21, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 02
Aichi Tokei Denki Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 Aichi Tokei Denki Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥59.07 (vs JP¥44.21 in 3Q 2023) Third quarter 2024 results: EPS: JP¥59.07 (up from JP¥44.21 in 3Q 2023). Revenue: JP¥12.5b (up 7.1% from 3Q 2023). Net income: JP¥907.0m (up 34% from 3Q 2023). Profit margin: 7.2% (up from 5.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% 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 12% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 29
Aichi Tokei Denki Co., Ltd. to Report Q3, 2024 Results on Jan 31, 2024 Aichi Tokei Denki Co., Ltd. announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: JP¥62.14 (vs JP¥39.91 in 2Q 2023) Second quarter 2024 results: EPS: JP¥62.14 (up from JP¥39.91 in 2Q 2023). Revenue: JP¥13.7b (up 5.8% from 2Q 2023). Net income: JP¥954.0m (up 56% from 2Q 2023). Profit margin: 6.9% (up from 4.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% 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 12% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥26.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). New Risk • Sep 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% 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 0.9% 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 01
First quarter 2024 earnings released: EPS: JP¥44.66 (vs JP¥30.26 in 1Q 2023) First quarter 2024 results: EPS: JP¥44.66 (up from JP¥30.26 in 1Q 2023). Revenue: JP¥11.0b (up 3.8% from 1Q 2023). Net income: JP¥683.0m (up 47% from 1Q 2023). Profit margin: 6.2% (up from 4.4% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
Aichi Tokei Denki Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 13
Full year 2023 earnings released: EPS: JP¥225 (vs JP¥181 in FY 2022) Full year 2023 results: EPS: JP¥225 (up from JP¥181 in FY 2022). Revenue: JP¥50.2b (up 7.9% from FY 2022). Net income: JP¥3.46b (up 24% from FY 2022). Profit margin: 6.9% (up from 6.0% 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 9% 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 13
Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 23, 2023 Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥24.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Announcement • Feb 01
Aichi Tokei Denki Co., Ltd. (TSE:7723) announces an Equity Buyback for 70,000 shares, representing 0.46% for ¥120 million. Aichi Tokei Denki Co., Ltd. (TSE:7723) announces a share repurchase program. Under the program the company will repurchase 70,000 shares, representing 0.46% of the outstanding shares for ¥120 million. The purpose of the program is to secure treasury shares for transfer to in the restricted stock compensation program. The program will expire on March 31, 2023. As of December 31, 2022, the company had 15,360,184 shares outstanding and 59,816 shares in treasury. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥44.21 (vs JP¥48.27 in 3Q 2022) Third quarter 2023 results: EPS: JP¥44.21 (down from JP¥48.27 in 3Q 2022). Revenue: JP¥11.7b (up 8.7% from 3Q 2022). Net income: JP¥679.0m (down 8.6% from 3Q 2022). Profit margin: 5.8% (down from 6.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 24
Aichi Tokei Denki Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Aichi Tokei Denki Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Outside Independent Director Chie Okada was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Second quarter 2023 earnings released: EPS: JP¥39.91 (vs JP¥34.89 in 2Q 2022) Second quarter 2023 results: EPS: JP¥39.91 (up from JP¥34.89 in 2Q 2022). Revenue: JP¥13.0b (up 12% from 2Q 2022). Net income: JP¥613.0m (up 14% from 2Q 2022). Profit margin: 4.7% (up from 4.6% 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 5% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Announcement • Aug 31
Aichi Tokei Denki Co., Ltd. to Report Q2, 2023 Results on Nov 01, 2022 Aichi Tokei Denki Co., Ltd. announced that they will report Q2, 2023 results on Nov 01, 2022 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥30.26 (vs JP¥37.85 in 1Q 2022) First quarter 2023 results: EPS: JP¥30.26 (down from JP¥37.85 in 1Q 2022). Revenue: JP¥10.6b (down 3.3% from 1Q 2022). Net income: JP¥464.0m (down 20% from 1Q 2022). Profit margin: 4.4% (down from 5.3% in 1Q 2022). The decrease in margin was driven by lower revenue. 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 3% per year. Announcement • Jun 02
Aichi Tokei Denki Co., Ltd. to Report Q1, 2023 Results on Jul 29, 2022 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2023 results on Jul 29, 2022 Announcement • May 12
Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 24, 2022 Aichi Tokei Denki Co., Ltd., Annual General Meeting, Jun 24, 2022. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥181 (vs JP¥195 in FY 2021) Full year 2022 results: EPS: JP¥181 (down from JP¥195 in FY 2021). Revenue: JP¥46.5b (flat on FY 2021). Net income: JP¥2.79b (down 6.6% from FY 2021). Profit margin: 6.0% (down from 6.5% in FY 2021). 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 2% per year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. 2 independent directors (8 non-independent directors). Independent External Director Seiichi Hattori was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 08
Aichi Tokei Denki Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Aichi Tokei Denki Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥24.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to JP¥1,505, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 11x in the Electronic industry in Japan. Total returns to shareholders of 25% over the past three years. Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: JP¥10.8b (up 7.4% from 3Q 2021). Net income: JP¥743.0m (up 21% from 3Q 2021). Profit margin: 6.9% (up from 6.1% in 3Q 2021). 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 19% per year whereas the company’s share price has increased by 15% per year. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥5,290, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 49% over the past three years. Announcement • Dec 24
Aichi Tokei Denki Co., Ltd. (TSE:7723) announces an Equity Buyback for 20,000 shares, representing 0.39% for ¥120 million. Aichi Tokei Denki Co., Ltd. (TSE:7723) announces a share repurchase program. Under the program the company will repurchase 20,000 shares, representing 0.39% of the outstanding shares for ¥120 million. The purpose of the program is to secure treasury shares for transfer to in the restricted stock compensation program. The program will expire on March 31, 2022. As of November 30, 2021, the company had 5,130,412 shares outstanding and 9,588 shares in treasury. Reported Earnings • Nov 02
Second quarter 2022 earnings released: EPS JP¥105 (vs JP¥119 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¥11.6b (up 2.3% from 2Q 2021). Net income: JP¥537.0m (down 11% from 2Q 2021). Profit margin: 4.6% (down from 5.4% 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 2% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 26 November 2021. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥114 (vs JP¥70.28 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥11.0b (up 7.9% from 1Q 2021). Net income: JP¥582.0m (up 62% from 1Q 2021). Profit margin: 5.3% (up from 3.5% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Jun 27
Full year 2021 earnings released: EPS JP¥584 (vs JP¥459 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥46.2b (down 3.9% from FY 2020). Net income: JP¥2.99b (up 27% from FY 2020). Profit margin: 6.5% (up from 4.9% in FY 2020). 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 1% per year, which means it is well ahead of earnings. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥584 (vs JP¥459 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥46.2b (down 3.9% from FY 2020). Net income: JP¥2.99b (up 27% from FY 2020). Profit margin: 6.5% (up from 4.9% in FY 2020). 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 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥60.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Announcement • Mar 20
Aichi Tokei Denki Co., Ltd. to Report Fiscal Year 2021 Results on May 11, 2021 Aichi Tokei Denki Co., Ltd. announced that they will report fiscal year 2021 results on May 11, 2021 Analyst Estimate Surprise Post Earnings • Feb 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Over the next year, revenue is expected to shrink by 5.9% compared to a 7.1% growth forecast for the Electronic industry in Japan. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥120 (vs JP¥60.18 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥10.0b (up 2.1% from 3Q 2020). Net income: JP¥615.0m (up 99% from 3Q 2020). Profit margin: 6.1% (up from 3.1% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 20
New 90-day low: JP¥4,300 The company is down 2.0% from its price of JP¥4,405 on 22 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. Announcement • Dec 19
Aichi Tokei Denki Co., Ltd. to Report Q3, 2021 Results on Feb 02, 2021 Aichi Tokei Denki Co., Ltd. announced that they will report Q3, 2021 results on Feb 02, 2021 Announcement • Oct 10
Aichi Tokei Denki Co., Ltd. to Report Q2, 2021 Results on Nov 02, 2020 Aichi Tokei Denki Co., Ltd. announced that they will report Q2, 2021 results on Nov 02, 2020 Announcement • Jul 05
Aichi Tokei Denki Co., Ltd. to Report Q1, 2021 Results on Aug 03, 2020 Aichi Tokei Denki Co., Ltd. announced that they will report Q1, 2021 results on Aug 03, 2020