New Risk • May 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 93% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • May 08
Full year 2026 earnings released: EPS: JP¥2,207 (vs JP¥300 in FY 2025) Full year 2026 results: EPS: JP¥2,207 (up from JP¥300 in FY 2025). Revenue: JP¥17.7b (down 2.6% from FY 2025). Net income: JP¥10.1b (up JP¥8.75b from FY 2025). Profit margin: 57% (up from 7.6% in FY 2025). Over the last 3 years on average, earnings per share has increased by 69% per year whereas the company’s share price has increased by 64% per year. Announcement • May 08
Mutoh Holdings Co., Ltd. to Report Fiscal Year 2026 Results on May 07, 2026 Mutoh Holdings Co., Ltd. announced that they will report fiscal year 2026 results on May 07, 2026 Announcement • Mar 24
Brother Industries, Ltd. (TSE:6448) completed the acquisition of Mutoh Holdings Co., Ltd. (TSE:7999) from a group of shareholders. Brother Industries, Ltd. (TSE:6448) proposed to acquire Mutoh Holdings Co., Ltd. (TSE:7999) from a group of shareholders for ¥35 billion on February 4, 2026. A cash consideration valued at ¥7626 per share will be paid by Brother Industries, Ltd. The transaction will be financed through own funds of the offeror. The offeror also entered into tender agreements with the shareholders of Mutoh who agreed to tender all of their shares in the offer. In the event that the minimum number of shares to be purchased is reached but not all of the shares are acquired, the Offeror intends to make the Target its wholly-owned subsidiary through what is known as a squeeze-out procedure.
The transaction is subject to approval of merger agreement by target board and minimum tender. The Board of Directors of Mutoh Holdings Co., Ltd. formed a special committee for the transaction. The expected completion of the transaction is March 23, 2026.
Mizuho Securities Co., Ltd. acted as financial advisor for Brother Industries, Ltd. Nomura Securities Co., Ltd. acted as financial advisor for Mutoh Holdings Co., Ltd. Anderson Mori & Tomotsune acted as legal advisor for Brother Industries, Ltd. Nishimura & Asahi acted as legal advisor for Mutoh Holdings Co., Ltd.
Brother Industries, Ltd. (TSE:6448) completed the acquisition of Mutoh Holdings Co., Ltd. (TSE:7999) from a group of shareholders on March 23, 2026. As the total number of Tendered Shares (4,039,103 shares) exceeded the minimum number of tendered shares to be purchased (3,042,700 shares), the Offeror will purchase all of the Tendered Shares. In light of the results of the Tender Offer, the Offeror plans to implement procedures for the purpose of acquiring all of the Mutoh's Stock. After the delisting of the Mutoh's Stock, the shares of Mutoh's Stock may no longer be traded on the Standard Market of the TSE. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥37.26 (vs JP¥59.66 in 3Q 2025) Third quarter 2026 results: EPS: JP¥37.26 (down from JP¥59.66 in 3Q 2025). Revenue: JP¥4.41b (down 6.3% from 3Q 2025). Net income: JP¥171.0m (down 37% from 3Q 2025). Profit margin: 3.9% (down from 5.8% in 3Q 2025). The decrease in margin was driven by lower revenue. 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 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥3,480, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 139% over the past three years. Announcement • Dec 25
Mutoh Holdings Co., Ltd. to Report Q3, 2026 Results on Feb 04, 2026 Mutoh Holdings Co., Ltd. announced that they will report Q3, 2026 results on Feb 04, 2026 Declared Dividend • Dec 11
First half dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 53% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 18
Second quarter 2026 earnings released: EPS: JP¥1.31 (vs JP¥37.81 in 2Q 2025) Second quarter 2026 results: EPS: JP¥1.31 (down from JP¥37.81 in 2Q 2025). Revenue: JP¥4.23b (down 4.6% from 2Q 2025). Net income: JP¥6.00m (down 97% from 2Q 2025). Profit margin: 0.1% (down from 3.9% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
Mutoh Holdings Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Mutoh Holdings Co., Ltd. announced that they will report Q2, 2026 results on Nov 14, 2025 Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: JP¥44.58 (vs JP¥190 in 1Q 2025) First quarter 2026 results: EPS: JP¥44.58 (down from JP¥190 in 1Q 2025). Revenue: JP¥4.53b (up 1.2% from 1Q 2025). Net income: JP¥204.0m (down 77% from 1Q 2025). Profit margin: 4.5% (down from 20% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥38.00 announced Shareholders will receive a dividend of JP¥38.00. Ex-date: 29th September 2025 Payment date: 10th December 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 65% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 26
Mutoh Holdings Co., Ltd. to Report Q1, 2026 Results on Aug 08, 2025 Mutoh Holdings Co., Ltd. announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 19
Full year 2025 earnings released: EPS: JP¥300 (vs JP¥167 in FY 2024) Full year 2025 results: EPS: JP¥300 (up from JP¥167 in FY 2024). Revenue: JP¥18.1b (up 3.5% from FY 2024). Net income: JP¥1.37b (up 80% from FY 2024). Profit margin: 7.6% (up from 4.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025 Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025. Announcement • Mar 26
Mutoh Holdings Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Mutoh Holdings Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥84.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 22% but the company is paying out more than the cash it is generating. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥59.66 (vs JP¥56.67 in 3Q 2024) Third quarter 2025 results: EPS: JP¥59.66 (up from JP¥56.67 in 3Q 2024). Revenue: JP¥4.71b (up 7.0% from 3Q 2024). Net income: JP¥273.0m (up 5.4% from 3Q 2024). Profit margin: 5.8% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 11
First half dividend increased to JP¥74.00 Dividend of JP¥74.00 is 85% higher than last year. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (12% earnings payout ratio) but not covered by cash flows (144% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 64% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Mutoh Holdings Co., Ltd. to Report Q3, 2025 Results on Feb 13, 2025 Mutoh Holdings Co., Ltd. announced that they will report Q3, 2025 results on Feb 13, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥36.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.5%). Announcement • Aug 27
Mutoh Holdings Co., Ltd. to Report Q2, 2025 Results on Nov 13, 2024 Mutoh Holdings Co., Ltd. announced that they will report Q2, 2025 results on Nov 13, 2024 Declared Dividend • Aug 21
Dividend of JP¥36.00 announced Shareholders will receive a dividend of JP¥36.00. Ex-date: 27th September 2024 Payment date: 16th December 2024 Dividend yield will be 3.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (18% 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 3.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 60% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: JP¥190 (vs JP¥4.38 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥190 (up from JP¥4.38 loss in 1Q 2024). Revenue: JP¥4.47b (up 5.0% from 1Q 2024). Net income: JP¥870.0m (up JP¥890.0m from 1Q 2024). Profit margin: 20% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
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 6.0% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (JP¥9.15b market cap, or US$64.3m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to JP¥2,002, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 15x in the Tech industry in Japan. Total returns to shareholders of 36% over the past three years. Announcement • Jun 27
Mutoh Holdings Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Mutoh Holdings Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 18
Full year 2024 earnings released: EPS: JP¥167 (vs JP¥192 in FY 2023) Full year 2024 results: EPS: JP¥167 (down from JP¥192 in FY 2023). Revenue: JP¥17.5b (up 4.2% from FY 2023). Net income: JP¥764.0m (down 13% from FY 2023). Profit margin: 4.4% (down from 5.2% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 26, 2024 Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.5%). Announcement • Mar 03
Mutoh Holdings Co., Ltd. to Report Fiscal Year 2024 Results on May 14, 2024 Mutoh Holdings Co., Ltd. announced that they will report fiscal year 2024 results on May 14, 2024 Reported Earnings • Feb 19
Third quarter 2024 earnings released: EPS: JP¥56.67 (vs JP¥30.67 in 3Q 2023) Third quarter 2024 results: EPS: JP¥56.67 (up from JP¥30.67 in 3Q 2023). Revenue: JP¥4.40b (up 8.4% from 3Q 2023). Net income: JP¥259.0m (up 85% from 3Q 2023). Profit margin: 5.9% (up from 3.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Dec 27
Mutoh Holdings Co., Ltd. to Report Q3, 2024 Results on Feb 14, 2024 Mutoh Holdings Co., Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 18
Second quarter 2024 earnings released: EPS: JP¥61.70 (vs JP¥41.84 in 2Q 2023) Second quarter 2024 results: EPS: JP¥61.70 (up from JP¥41.84 in 2Q 2023). Revenue: JP¥4.24b (flat on 2Q 2023). Net income: JP¥282.0m (up 48% from 2Q 2023). Profit margin: 6.6% (up from 4.5% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Sep 03
Mutoh Holdings Co., Ltd. to Report Q2, 2024 Results on Nov 14, 2023 Mutoh Holdings Co., Ltd. announced that they will report Q2, 2024 results on Nov 14, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: JP¥4.38 loss per share (vs JP¥30.05 profit in 1Q 2023) First quarter 2024 results: JP¥4.38 loss per share (down from JP¥30.05 profit in 1Q 2023). Revenue: JP¥4.26b (flat on 1Q 2023). Net loss: JP¥20.0m (down 115% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jun 24
Mutoh Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 10, 2023 Mutoh Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥192 (vs JP¥170 in FY 2022) Full year 2023 results: EPS: JP¥192 (up from JP¥170 in FY 2022). Revenue: JP¥16.8b (up 6.0% from FY 2022). Net income: JP¥878.0m (up 14% from FY 2022). Profit margin: 5.2% (up from 4.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 28, 2023 Mutoh Holdings Co., Ltd., Annual General Meeting, Jun 28, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.1%). Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: JP¥30.67 (vs JP¥37.29 in 3Q 2022) Third quarter 2023 results: EPS: JP¥30.67 (down from JP¥37.29 in 3Q 2022). Revenue: JP¥4.06b (up 5.9% from 3Q 2022). Net income: JP¥140.0m (down 18% from 3Q 2022). Profit margin: 3.4% (down from 4.4% 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 89% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Dec 22
Mutoh Holdings Co., Ltd. to Report Q3, 2023 Results on Feb 14, 2023 Mutoh Holdings Co., Ltd. announced that they will report Q3, 2023 results on Feb 14, 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. 2 highly experienced directors. 1 independent director (9 non-independent directors). Independent Outside Director Hironori Minoguchi was the last independent director to join the board, commencing their role in 2019. 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 • Nov 13
Second quarter 2023 earnings released: EPS: JP¥41.84 (vs JP¥18.42 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.84 (up from JP¥18.42 in 2Q 2022). Revenue: JP¥4.22b (up 9.6% from 2Q 2022). Net income: JP¥191.0m (up 127% from 2Q 2022). Profit margin: 4.5% (up from 2.2% 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 74% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Mutoh Holdings Co., Ltd. to Report Q2, 2023 Results on Nov 11, 2022 Mutoh Holdings Co., Ltd. announced that they will report Q2, 2023 results on Nov 11, 2022 Announcement • Aug 12
Mutoh Holdings Co., Ltd. Provides Earnings Guidance for the Fiscal Year Ending March 2023 Mutoh Holdings Co., Ltd. provided earnings guidance for the fiscal year ending March 2023. For the year ending March 2023, the company expected net sales of JPY 16,100 million, Operating profit of JPY 400 million, Profit attributable to owners of parent of JPY 100 million or Basic earnings per share of JPY 21.94. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: JP¥30.05 (vs JP¥145 in 1Q 2022) First quarter 2023 results: EPS: JP¥30.05 (down from JP¥145 in 1Q 2022). Revenue: JP¥4.26b (up 7.7% from 1Q 2022). Net income: JP¥137.0m (down 79% from 1Q 2022). Profit margin: 3.2% (down from 17% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Mutoh Holdings Co., Ltd. to Report Q1, 2023 Results on Aug 10, 2022 Mutoh Holdings Co., Ltd. announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥170 (vs JP¥264 loss in FY 2021) Full year 2022 results: EPS: JP¥170 (up from JP¥264 loss in FY 2021). Revenue: JP¥15.8b (up 12% from FY 2021). Net income: JP¥773.0m (up JP¥1.97b from FY 2021). Profit margin: 4.9% (up from net loss in FY 2021). 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. 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. 9 experienced directors. 1 highly experienced director. 1 independent director (9 non-independent directors). Independent Outside Director Hironori Minoguchi was the last independent director to join the board, commencing their role in 2019. 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
Mutoh Holdings Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 Mutoh Holdings Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.4%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥37.29 (up from JP¥122 loss in 3Q 2021). Revenue: JP¥3.83b (up 1.0% from 3Q 2021). Net income: JP¥170.0m (up JP¥724.0m from 3Q 2021). Profit margin: 4.4% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥2,168, the stock trades at a trailing P/E ratio of 72.7x. Average trailing P/E is 14x in the Tech industry in Japan. Total returns to shareholders of 21% over the past three years. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥18.42 (vs JP¥21.74 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥3.85b (up 6.3% from 2Q 2021). Net income: JP¥84.0m (up JP¥183.0m from 2Q 2021). Profit margin: 2.2% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 20
First quarter 2022 earnings released: EPS JP¥145 (vs JP¥108 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥3.95b (up 49% from 1Q 2021). Net income: JP¥660.0m (up JP¥1.15b from 1Q 2021). Profit margin: 17% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
Full year 2021 earnings released: JP¥264 loss per share (vs JP¥223 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: JP¥14.2b (down 12% from FY 2020). Net loss: JP¥1.20b (loss widened 18% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (2.7%). Lower than average of industry peers (2.4%). Announcement • Mar 07
Mutoh Holdings Co., Ltd. to Report Fiscal Year 2021 Results on May 14, 2021 Mutoh Holdings Co., Ltd. announced that they will report fiscal year 2021 results on May 14, 2021 Is New 90 Day High Low • Feb 18
New 90-day high: JP¥1,586 The company is up 7.0% from its price of JP¥1,478 on 20 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 22% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: JP¥122 loss per share (vs JP¥50.11 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: JP¥3.80b (down 1.6% from 3Q 2020). Net loss: JP¥554.0m (loss widened 143% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 91% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 26
New 90-day high: JP¥1,534 The company is up 3.0% from its price of JP¥1,492 on 28 October 2020. The Japanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 19% over the same period. Announcement • Dec 13
Mutoh Holdings Co., Ltd. to Report Q3, 2021 Results on Feb 12, 2021 Mutoh Holdings Co., Ltd. announced that they will report Q3, 2021 results on Feb 12, 2021