Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥7,570, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,378 per share. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥155 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 11 September 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥9,430, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,733 per share. Announcement • Jun 03
Furuya Metal Co., Ltd. to Report Fiscal Year 2026 Results on Aug 06, 2026 Furuya Metal Co., Ltd. announced that they will report fiscal year 2026 results on Aug 06, 2026 New Risk • May 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.5% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Reported Earnings • May 15
Third quarter 2026 earnings released: EPS: JP¥271 (vs JP¥63.31 in 3Q 2025) Third quarter 2026 results: EPS: JP¥271 (up from JP¥63.31 in 3Q 2025). Revenue: JP¥30.8b (up 120% from 3Q 2025). Net income: JP¥6.68b (up 329% from 3Q 2025). Profit margin: 22% (up from 11% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Electronic industry in Japan are expected to grow by 7.9%. 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 45% per year, which means it is well ahead of earnings. Major Estimate Revision • May 14
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥89.2b to JP¥96.0b. EPS estimate increased from JP¥454 to JP¥615 per share. Net income forecast to grow 83% next year vs 9.8% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥8,400 to JP¥10,000. Share price rose 33% to JP¥10,630 over the past week. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥8,500, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 205% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥7,580, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,635 per share. Major Estimate Revision • Mar 28
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from JP¥81.3b to JP¥89.2b. EPS estimate increased from JP¥392 to JP¥454 per share. Net income forecast to grow 48% next year vs 13% growth forecast for Electronic industry in Japan. Consensus price target up from JP¥6,000 to JP¥8,400. Share price fell 9.4% to JP¥6,370 over the past week. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥6,470, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Electronic industry in Japan. Total returns to shareholders of 111% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,639 per share. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to JP¥6,730, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Electronic industry in Japan. Total returns to shareholders of 124% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥3,575 per share. Declared Dividend • Feb 08
Dividend of JP¥120 announced Shareholders will receive a dividend of JP¥120. Ex-date: 29th June 2026 Payment date: 11th September 2026 Dividend yield will be 2.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (31% 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 16% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 2.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Second quarter 2026 earnings released: EPS: JP¥109 (vs JP¥92.28 in 2Q 2025) Second quarter 2026 results: EPS: JP¥109 (up from JP¥92.28 in 2Q 2025). Revenue: JP¥20.7b (up 60% from 2Q 2025). Net income: JP¥2.68b (up 18% from 2Q 2025). Profit margin: 13% (down from 18% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Electronic industry in Japan are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. New Risk • Feb 07
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: 10% Last year net profit margin: 16% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Paying a dividend despite having no free cash flows. Buy Or Sell Opportunity • Feb 03
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 54% to JP¥4,240. The fair value is estimated to be JP¥3,349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 4.2% per annum over the same time period. Buy Or Sell Opportunity • Jan 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to JP¥4,045. The fair value is estimated to be JP¥3,336, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 0.8% per annum. Earnings are also forecast to grow by 4.2% per annum over the same time period. Price Target Changed • Dec 31
Price target increased by 7.3% to JP¥4,150 Up from JP¥3,867, the current price target is an average from 2 analysts. New target price is 18% above last closing price of JP¥3,515. Stock is down 3.0% over the past year. The company is forecast to post earnings per share of JP¥297 for next year compared to JP¥263 last year. Announcement • Dec 02
Furuya Metal Co., Ltd. to Report Q2, 2026 Results on Feb 06, 2026 Furuya Metal Co., Ltd. announced that they will report Q2, 2026 results on Feb 06, 2026 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥3,420, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x 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¥4,241 per share. Buy Or Sell Opportunity • Nov 12
Now 21% undervalued Over the last 90 days, the stock has risen 49% to JP¥3,375. The fair value is estimated to be JP¥4,248, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 2.1% per annum over the same time period. Reported Earnings • Nov 08
First quarter 2026 earnings released: EPS: JP¥94.73 (vs JP¥66.26 in 1Q 2025) First quarter 2026 results: EPS: JP¥94.73 (up from JP¥66.26 in 1Q 2025). Revenue: JP¥23.2b (up 67% from 1Q 2025). Net income: JP¥2.33b (up 43% from 1Q 2025). Profit margin: 10.0% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat 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 fallen by 17% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Price Target Changed • Nov 07
Price target decreased by 14% to JP¥3,867 Down from JP¥4,500, the current price target is an average from 3 analysts. New target price is 25% above last closing price of JP¥3,095. Stock is down 17% over the past year. The company is forecast to post earnings per share of JP¥260 for next year compared to JP¥263 last year. Buy Or Sell Opportunity • Oct 17
Now 23% undervalued Over the last 90 days, the stock has risen 15% to JP¥2,833. The fair value is estimated to be JP¥3,691, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has declined by 16%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Major Estimate Revision • Sep 13
Consensus EPS estimates fall by 27%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from JP¥51.6b to JP¥54.5b. EPS estimate fell from JP¥321 to JP¥235 per share. Net income forecast to shrink 11% next year vs 16% growth forecast for Electronic industry in Japan . Consensus price target down from JP¥4,633 to JP¥4,500. Share price rose 3.7% to JP¥2,818 over the past week. Announcement • Sep 02
Furuya Metal Co., Ltd. to Report Q1, 2026 Results on Nov 06, 2025 Furuya Metal Co., Ltd. announced that they will report Q1, 2026 results on Nov 06, 2025 Reported Earnings • Aug 08
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: JP¥263 (down from JP¥322 in FY 2024). Revenue: JP¥57.4b (up 21% from FY 2024). Net income: JP¥6.47b (down 13% from FY 2024). Profit margin: 11% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Announcement • Aug 07
Furuya Metal Co., Ltd., Annual General Meeting, Sep 25, 2025 Furuya Metal Co., Ltd., Annual General Meeting, Sep 25, 2025. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥96.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 12 September 2025. Payout ratio is on the higher end at 78% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Japanese dividend payers (4.0%). Higher than average of industry peers (1.9%). Announcement • Jun 05
Furuya Metal Co., Ltd. to Report Fiscal Year 2025 Results on Aug 07, 2025 Furuya Metal Co., Ltd. announced that they will report fiscal year 2025 results on Aug 07, 2025 Major Estimate Revision • May 16
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from JP¥353 to JP¥305. Revenue forecast unchanged from JP¥55.2b at last update. Net income forecast to grow 9.8% next year vs 10% growth forecast for Electronic industry in Japan. Consensus price target down from JP¥5,333 to JP¥4,900. Share price rose 2.1% to JP¥2,619 over the past week. Price Target Changed • May 14
Price target decreased by 8.1% to JP¥4,900 Down from JP¥5,333, the current price target is an average from 3 analysts. New target price is 84% above last closing price of JP¥2,661. Stock is down 31% over the past year. The company is forecast to post earnings per share of JP¥305 for next year compared to JP¥322 last year. Reported Earnings • May 11
Third quarter 2025 earnings released: EPS: JP¥63.31 (vs JP¥75.75 in 3Q 2024) Third quarter 2025 results: EPS: JP¥63.31 (down from JP¥75.75 in 3Q 2024). Revenue: JP¥14.0b (up 14% from 3Q 2024). Net income: JP¥1.56b (down 16% from 3Q 2024). Profit margin: 11% (down from 15% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% 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 fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • May 11
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Apr 07
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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥2,327, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 20% over the past three years. Announcement • Mar 04
Furuya Metal Co., Ltd. to Report Q3, 2025 Results on May 09, 2025 Furuya Metal Co., Ltd. announced that they will report Q3, 2025 results on May 09, 2025 Declared Dividend • Feb 10
Dividend of JP¥96.00 announced Shareholders will receive a dividend of JP¥96.00. Ex-date: 27th June 2025 Payment date: 12th September 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (218% cash payout ratio). The dividend has increased by an average of 22% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 08
Second quarter 2025 earnings released: EPS: JP¥92.28 (vs JP¥70.95 in 2Q 2024) Second quarter 2025 results: EPS: JP¥92.28 (up from JP¥70.95 in 2Q 2024). Revenue: JP¥12.9b (up 18% from 2Q 2024). Net income: JP¥2.27b (up 46% from 2Q 2024). Profit margin: 18% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 03
Furuya Metal Co., Ltd. to Report Q2, 2025 Results on Feb 07, 2025 Furuya Metal Co., Ltd. announced that they will report Q2, 2025 results on Feb 07, 2025 Reported Earnings • Nov 09
First quarter 2025 earnings released: EPS: JP¥66.26 (vs JP¥68.33 in 1Q 2024) First quarter 2025 results: EPS: JP¥66.26. Revenue: JP¥13.9b (up 37% from 1Q 2024). Net income: JP¥1.63b (up 14% from 1Q 2024). Profit margin: 12% (down from 14% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Japan. Announcement • Aug 28
Furuya Metal Co., Ltd. to Report Q1, 2025 Results on Nov 07, 2024 Furuya Metal Co., Ltd. announced that they will report Q1, 2025 results on Nov 07, 2024 Announcement • Aug 07
Furuya Metal Co., Ltd., Annual General Meeting, Sep 26, 2024 Furuya Metal Co., Ltd., Annual General Meeting, Sep 26, 2024. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥3,380, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Semiconductor industry in Japan. Total returns to shareholders of 72% over the past three years. New Risk • Jul 08
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). Shareholders have been diluted in the past year (17% increase in shares outstanding). Upcoming Dividend • Jun 20
Upcoming dividend of JP¥256 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 11 September 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.1%). Announcement • Jun 06
Furuya Metal Co., Ltd. to Report Fiscal Year 2024 Results on Aug 07, 2024 Furuya Metal Co., Ltd. announced that they will report fiscal year 2024 results on Aug 07, 2024 Price Target Changed • Jun 05
Price target increased by 7.4% to JP¥15,933 Up from JP¥14,833, the current price target is an average from 3 analysts. New target price is 25% above last closing price of JP¥12,790. Stock is up 29% over the past year. The company is forecast to post earnings per share of JP¥875 for next year compared to JP¥1,348 last year. Reported Earnings • May 12
Third quarter 2024 earnings released: EPS: JP¥227 (vs JP¥292 in 3Q 2023) Third quarter 2024 results: EPS: JP¥227 (down from JP¥292 in 3Q 2023). Revenue: JP¥12.2b (down 1.7% from 3Q 2023). Net income: JP¥1.86b (down 9.0% from 3Q 2023). Profit margin: 15% (down from 16% in 3Q 2023). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Feb 24
Furuya Metal Co., Ltd. to Report Q3, 2024 Results on May 10, 2024 Furuya Metal Co., Ltd. announced that they will report Q3, 2024 results on May 10, 2024 Major Estimate Revision • Feb 16
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥53.2b to JP¥50.7b. EPS estimate also fell from JP¥1,051 per share to JP¥880 per share. Net income forecast to grow 22% next year vs 12% growth forecast for Semiconductor industry in Japan. Consensus price target of JP¥15,400 unchanged from last update. Share price rose 4.6% to JP¥9,740 over the past week. Declared Dividend • Feb 11
Dividend of JP¥256 announced Shareholders will receive a dividend of JP¥256. Ex-date: 27th June 2024 Payment date: 11th September 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (24% 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 24% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 10
Second quarter 2024 earnings released: EPS: JP¥213 (vs JP¥295 in 2Q 2023) Second quarter 2024 results: EPS: JP¥213 (down from JP¥295 in 2Q 2023). Revenue: JP¥11.0b (flat on 2Q 2023). Net income: JP¥1.55b (down 25% from 2Q 2023). Profit margin: 14% (down from 19% in 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor 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 13% per year. New Risk • Dec 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Dec 02
Furuya Metal Co., Ltd. to Report Q2, 2024 Results on Feb 09, 2024 Furuya Metal Co., Ltd. announced that they will report Q2, 2024 results on Feb 09, 2024 Reported Earnings • Nov 08
First quarter 2024 earnings released: EPS: JP¥205 (vs JP¥422 in 1Q 2023) First quarter 2024 results: EPS: JP¥205 (down from JP¥422 in 1Q 2023). Revenue: JP¥10.1b (down 23% from 1Q 2023). Net income: JP¥1.43b (down 51% from 1Q 2023). Profit margin: 14% (down from 22% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 21% per year. Announcement • Aug 10
Furuya Metal Co., Ltd., Annual General Meeting, Sep 26, 2023 Furuya Metal Co., Ltd., Annual General Meeting, Sep 26, 2023. Reported Earnings • Aug 10
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: JP¥1,347 (up from JP¥1,311 in FY 2022). Revenue: JP¥48.1b (up 6.2% from FY 2022). Net income: JP¥9.41b (up 2.9% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥54.6b to JP¥53.6b. EPS estimate also fell from JP¥1,465 per share to JP¥1,085 per share. Net income forecast to shrink 15% next year vs 6.2% decline forecast for Semiconductor industry in Japan. Consensus price target up from JP¥15,433 to JP¥15,933. Share price fell 11% to JP¥9,410 over the past week. Buying Opportunity • Jun 27
Now 23% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be JP¥14,375, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥255 per share at 2.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 12 September 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.4%). Announcement • Jun 03
Furuya Metal Co., Ltd. to Report Fiscal Year 2023 Results on Aug 08, 2023 Furuya Metal Co., Ltd. announced that they will report fiscal year 2023 results on Aug 08, 2023 Reported Earnings • May 14
Third quarter 2023 earnings released: EPS: JP¥292 (vs JP¥278 in 3Q 2022) Third quarter 2023 results: EPS: JP¥292 (up from JP¥278 in 3Q 2022). Revenue: JP¥12.4b (up 17% from 3Q 2022). Net income: JP¥2.04b (up 5.2% from 3Q 2022). Profit margin: 16% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 10
Second quarter 2023 earnings released: EPS: JP¥295 (vs JP¥266 in 2Q 2022) Second quarter 2023 results: EPS: JP¥295 (up from JP¥266 in 2Q 2022). Revenue: JP¥11.1b (up 20% from 2Q 2022). Net income: JP¥2.06b (up 11% from 2Q 2022). Profit margin: 19% (down from 20% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Semiconductor industry in Japan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Dec 01
Furuya Metal Co., Ltd. to Report Q2, 2023 Results on Feb 08, 2023 Furuya Metal Co., Ltd. announced that they will report Q2, 2023 results on Feb 08, 2023 Reported Earnings • Nov 16
First quarter 2023 earnings released: EPS: JP¥422 (vs JP¥422 in 1Q 2022) First quarter 2023 results: EPS: JP¥422. Revenue: JP¥13.2b (up 11% from 1Q 2022). Net income: JP¥2.94b (flat on 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Japan. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Kleantha Pillay was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
First quarter 2023 earnings released: EPS: JP¥422 (vs JP¥422 in 1Q 2022) First quarter 2023 results: EPS: JP¥422. Revenue: JP¥13.2b (up 11% from 1Q 2022). Net income: JP¥2.94b (flat on 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Semiconductor industry in Japan. Announcement • Sep 01
Furuya Metal Co., Ltd. to Report Q1, 2023 Results on Nov 07, 2022 Furuya Metal Co., Ltd. announced that they will report Q1, 2023 results on Nov 07, 2022 Major Estimate Revision • Aug 15
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from JP¥1,294 to JP¥1,424. Revenue forecast steady at JP¥46.5b. Net income forecast to grow 9.1% next year vs 6.5% growth forecast for Semiconductor industry in Japan. Consensus price target down from JP¥15,000 to JP¥14,575. Share price rose 12% to JP¥9,900 over the past week. Reported Earnings • Aug 09
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥1,311 (up from JP¥1,027 in FY 2021). Revenue: JP¥45.3b (up 34% from FY 2021). Net income: JP¥9.14b (up 33% from FY 2021). Profit margin: 20% (in line with FY 2021). Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Over the next year, revenue is forecast to grow 2.6%, compared to a 21% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥150 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 8.7% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (2.5%). Announcement • Jun 03
Furuya Metal Co., Ltd. to Report Fiscal Year 2022 Results on Aug 08, 2022 Furuya Metal Co., Ltd. announced that they will report fiscal year 2022 results on Aug 08, 2022 Reported Earnings • May 13
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥278 (down from JP¥399 in 3Q 2021). Revenue: JP¥10.7b (down 6.8% from 3Q 2021). Net income: JP¥1.94b (down 30% from 3Q 2021). Profit margin: 18% (down from 24% in 3Q 2021). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Over the next year, revenue is forecast to grow 3.0%, compared to a 23% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 8 non-independent directors. Independent Outside Director Hiroe Fukushima was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
Furuya Metal Co., Ltd. to Report Q3, 2022 Results on May 11, 2022 Furuya Metal Co., Ltd. announced that they will report Q3, 2022 results on May 11, 2022 Reported Earnings • Feb 09
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: JP¥266 (up from JP¥87.71 in 2Q 2021). Revenue: JP¥9.26b (up 45% from 2Q 2021). Net income: JP¥1.86b (up 204% from 2Q 2021). Profit margin: 20% (up from 9.6% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) exceeded analyst estimates by 40%. Over the next year, revenue is forecast to grow 1.9%, compared to a 23% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥11,610, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Semiconductor industry in Japan. Total returns to shareholders of 142% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥22,639 per share. Reported Earnings • Nov 07
First quarter 2022 earnings released: EPS JP¥422 (vs JP¥98.02 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥11.8b (up 142% from 1Q 2021). Net income: JP¥2.94b (up 405% from 1Q 2021). Profit margin: 25% (up from 12% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 21% share price gain to JP¥9,280, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥7,960, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 16x in the Semiconductor industry in Japan. Total returns to shareholders of 22% over the past three years. Major Estimate Revision • Aug 13
Consensus EPS estimates increase to JP¥1,148 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥39.5b to JP¥43.0b. EPS estimate increased from JP¥1,033 to JP¥1,148 per share. Net income forecast to grow 16% next year vs 31% growth forecast for Semiconductor industry in Japan. Consensus price target up from JP¥11,000 to JP¥12,000. Share price rose 29% to JP¥8,150 over the past week.