Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥38.71 (vs JP¥15.74 in FY 2025) Full year 2026 results: EPS: JP¥38.71 (up from JP¥15.74 in FY 2025). Revenue: JP¥99.1b (down 15% from FY 2025). Net income: JP¥1.13b (up 123% from FY 2025). Profit margin: 1.1% (up from 0.4% in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • May 16
Kaga Electronics Co.,Ltd. (TSE:8154) proposed to acquire Shinko Shoji Co., Ltd. (TSE:8141) from Akio Kitai, Aya Nomura, Kitai & Company Ltd., City Index First Co., Ltd., City Index Eleventh Co., Ltd., Restar Corporation and others for ¥46 billion. Kaga Electronics Co.,Ltd. (TSE:8154) proposed to acquire Shinko Shoji Co., Ltd. (TSE:8141) from Akio Kitai, Aya Nomura, Kitai & Company Ltd., City Index First Co., Ltd., City Index Eleventh Co., Ltd., Restar Corporation and others for ¥46 billion on May 15, 2026. A cash consideration valued at ¥1580 per share will be paid by Kaga Electronics Co.,Ltd.
The transaction was approved by the Board of Shinko Shoji Co., Ltd. The expected completion of the transaction is June 26, 2026. Announcement • May 15
Shinko Shoji Co., Ltd., Annual General Meeting, Jun 25, 2026 Shinko Shoji Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • May 10
Shinko Shoji Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Shinko Shoji Co., Ltd. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥6.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 17 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.6%). New Risk • Jan 31
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: 0.3% Last year net profit margin: 0.8% 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: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Announcement • Dec 11
Shinko Shoji Co., Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Shinko Shoji Co., Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Dec 06
First half dividend of JP¥6.50 announced Shareholders will receive a dividend of JP¥6.50. Ex-date: 30th March 2026 Payment date: 17th June 2026 Dividend yield will be 1.2%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (2% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 2.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥8.81 (vs JP¥0.12 in 2Q 2025) Second quarter 2026 results: EPS: JP¥8.81 (up from JP¥0.12 in 2Q 2025). Revenue: JP¥24.1b (down 26% from 2Q 2025). Net income: JP¥259.0m (up JP¥255.0m from 2Q 2025). Profit margin: 1.1% (up from 0% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (1.7%). Announcement • Sep 03
Shinko Shoji Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Shinko Shoji Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Reported Earnings • Aug 01
First quarter 2026 earnings released: EPS: JP¥13.24 (vs JP¥9.70 in 1Q 2025) First quarter 2026 results: EPS: JP¥13.24 (up from JP¥9.70 in 1Q 2025). Revenue: JP¥21.7b (down 33% from 1Q 2025). Net income: JP¥394.0m (up 23% from 1Q 2025). Profit margin: 1.8% (up from 1.0% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥6.00 announced Shareholders will receive a dividend of JP¥6.00. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 1.5%, which is about the same as the industry average. Payout Ratios Payout ratio: 95%. Cash payout ratio: 0.8919%. Reported Earnings • Jun 30
Full year 2025 earnings released: EPS: JP¥15.74 (vs JP¥96.50 in FY 2024) Full year 2025 results: EPS: JP¥15.74 (down from JP¥96.50 in FY 2024). Revenue: JP¥116.0b (down 34% from FY 2024). Net income: JP¥505.0m (down 84% from FY 2024). Profit margin: 0.4% (down from 1.8% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jun 25
Shinko Shoji Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Shinko Shoji Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Announcement • Jun 12
Shinko Shoji Co., Ltd. (TSE:8141) announces an Equity Buyback for 1,600,000 shares, representing 5.37% for ¥1,500 million. Shinko Shoji Co., Ltd. (TSE:8141) announces a share repurchase program. Under the program, the company will repurchase up to 1,600,000 shares, representing 5.37% of its share capital, for ¥1,500 million. The company will repurchase its shares in order to implement a flexible capital policy based on a comprehensive assessment of market conditions, financial standing, and other relevant factors. The share repurchase program will run until December 30, 2025. As of May 31, 2025, the company had 29,784,018 shares issued(excluding treasury shares) and 8,226,548 shares in treasury. Reported Earnings • May 20
Full year 2025 earnings released: EPS: JP¥15.74 (vs JP¥96.50 in FY 2024) Full year 2025 results: EPS: JP¥15.74 (down from JP¥96.50 in FY 2024). Revenue: JP¥116.0b (down 34% from FY 2024). Net income: JP¥505.0m (down 84% from FY 2024). Profit margin: 0.4% (down from 1.8% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 15
Shinko Shoji Co., Ltd., Annual General Meeting, Jun 25, 2025 Shinko Shoji Co., Ltd., Annual General Meeting, Jun 25, 2025. Announcement • Apr 15
Shinko Shoji Co., Ltd. Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 Shinko Shoji Co., Ltd. Revised consolidated earnings guidance for the Fiscal Year Ending March 31, 2025. For the year, the company expects net sales of JPY 116,000 million, operating profit of JPY 680 million, profit attributable to owners of parent of JPY 500 Million and Net earnings per share of JPY 15.59 as compared to the previous forecast of net sales to be JPY 112,000 million, operating profit of JPY 1,800 million, profit attributable to owners of parent of JPY 1,000 million and Net earnings per share of JPY 31.28. Reason for revision: Regarding the inventory the Shinko Shoji Group (hereinafter “the Group”) has, following the termination of the distribution agreement with Renesas Electronics Corporation, proceeded to sell and transfer the inventory to customers and successor distributors. However, regarding a part of EOL products, the Group concluded that it would be neither sold nor transferred. Therefore, the Group is recognized disposal loss of JPY 1,600 millions of in he fiscal year ended March 31, 2025. As a result, Operating profit, Ordinary profit, and Profit attributable to owners of parent are revised downwards. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥756, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 11x in the Electronic industry in Japan. Total loss to shareholders of 7.2% over the past three years. New Risk • Apr 09
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 2.0% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Profit margins are more than 30% lower than last year (0.8% net profit margin). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 17 June 2025. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.7%). Announcement • Mar 04
Shinko Shoji Co., Ltd. to Report Fiscal Year 2025 Results on May 15, 2025 Shinko Shoji Co., Ltd. announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 15, 2025 Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥22.25 (vs JP¥28.55 in 3Q 2024) Third quarter 2025 results: EPS: JP¥22.25 (down from JP¥28.55 in 3Q 2024). Revenue: JP¥28.0b (down 29% from 3Q 2024). Net income: JP¥715.0m (down 24% from 3Q 2024). Profit margin: 2.6% (up from 2.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Dec 06
First half dividend of JP¥8.00 announced Shareholders will receive a dividend of JP¥8.00. Ex-date: 28th March 2025 Payment date: 17th June 2025 Dividend yield will be 1.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (3% 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 2.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥0.12 (vs JP¥35.77 in 2Q 2024) Second quarter 2025 results: EPS: JP¥0.12 (down from JP¥35.77 in 2Q 2024). Revenue: JP¥32.3b (down 33% from 2Q 2024). Net income: JP¥4.00m (down 100% from 2Q 2024). Profit margin: 0% (down from 2.5% in 2Q 2024). 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 4% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (1.5%). Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥9.70 (vs JP¥32.74 in 1Q 2024) First quarter 2025 results: EPS: JP¥9.70 (down from JP¥32.74 in 1Q 2024). Revenue: JP¥32.6b (down 28% from 1Q 2024). Net income: JP¥321.0m (down 70% from 1Q 2024). Profit margin: 1.0% (down from 2.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥7.50 announced Shareholders will receive a dividend of JP¥7.50. Ex-date: 27th September 2024 Payment date: 11th December 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (11% 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 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 20
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: 1.8% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (1.8% net profit margin). Reported Earnings • May 20
Full year 2024 earnings released: EPS: JP¥96.50 (vs JP¥138 in FY 2023) Full year 2024 results: EPS: JP¥96.50 (down from JP¥138 in FY 2023). Revenue: JP¥175.8b (down 1.8% from FY 2023). Net income: JP¥3.19b (down 32% from FY 2023). Profit margin: 1.8% (down from 2.6% in FY 2023). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 16
Shinko Shoji Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2025 Shinko Shoji Co., Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2025. For the year, the company expects net sales of JPY 112,000 million, operating profit of JPY 1,000 million, profit attributable to owners of parent of JPY 1,000 million and basic earnings per share of JPY 30.21. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥956, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 46% over the past three years. Announcement • Mar 28
Shinko Shoji Co., Ltd. to Report Fiscal Year 2024 Results on May 15, 2024 Shinko Shoji Co., Ltd. announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥26.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 14 June 2024. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Feb 14
Shinko Shoji Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Shinko Shoji Co., Ltd. provided dividend guidance for the Fiscal Year Ending March 31, 2024. For the fiscal year ending March 31, 2024, the company expects to pay dividend of JPY 26.50 per share against JPY 40.00 per share paid a year ago. Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥28.55 (vs JP¥36.49 in 3Q 2023) Third quarter 2024 results: EPS: JP¥28.55 (down from JP¥36.49 in 3Q 2023). Revenue: JP¥39.6b (down 9.5% from 3Q 2023). Net income: JP¥945.0m (down 23% from 3Q 2023). Profit margin: 2.4% (down from 2.8% in 3Q 2023). The decrease in margin was driven by lower revenue. 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 16% per year, which means it is significantly lagging earnings growth. Announcement • Nov 15
Shinko Shoji Co., Ltd. Announces Dividend for the Second Quarter Ended September 30, 2023, Payable on December 11, 2023; Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Shinko Shoji Co., Ltd. announced dividend for the second quarter ended September 30, 2023 of JPY 26.50 per share compared to JPY 29.00 per share paid a year ago. Scheduled date of commencing dividend payments is December 11, 2023. For the fiscal year ending March 31, 2024, the company expects to pay dividend of JPY 26.50 per share. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥35.77 (vs JP¥35.53 in 2Q 2023) Second quarter 2024 results: EPS: JP¥35.77. Revenue: JP¥48.2b (flat on 2Q 2023). Net income: JP¥1.18b (down 2.3% from 2Q 2023). Profit margin: 2.5% (in line with 2Q 2023). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥26.50 per share at 4.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥32.74 (vs JP¥29.52 in 1Q 2023) First quarter 2024 results: EPS: JP¥32.74 (up from JP¥29.52 in 1Q 2023). Revenue: JP¥45.4b (up 9.8% from 1Q 2023). Net income: JP¥1.08b (up 2.8% from 1Q 2023). Profit margin: 2.4% (down from 2.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Shinko Shoji Co., Ltd. Announces Year End Dividend for the Fiscal Year Ended March 31, 2023, Payable on June 14, 2023 Shinko Shoji Co., Ltd. announced year end dividend for the fiscal year ended March 31, 2023. For the period, the company expected dividend of JPY 40 per share compared to JPY 36.50 per share paid a year ago. The dividend will be payable on June 14, 2023. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥138 (vs JP¥76.11 in FY 2022) Full year 2023 results: EPS: JP¥138 (up from JP¥76.11 in FY 2022). Revenue: JP¥179.1b (up 32% from FY 2022). Net income: JP¥4.71b (up 67% from FY 2022). Profit margin: 2.6% (up from 2.1% 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 61% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥29.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 07 June 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: JP¥36.49 (vs JP¥16.80 in 3Q 2022) Third quarter 2023 results: EPS: JP¥36.49 (up from JP¥16.80 in 3Q 2022). Revenue: JP¥43.7b (up 31% from 3Q 2022). Net income: JP¥1.23b (up 97% from 3Q 2022). Profit margin: 2.8% (up from 1.9% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% 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 04
Shinko Shoji Co., Ltd. to Report Q3, 2023 Results on Jan 31, 2023 Shinko Shoji Co., Ltd. announced that they will report Q3, 2023 results on Jan 31, 2023 Announcement • Nov 23
Shinko Shoji Co., Ltd. Announces Dividend for the Second Quarter of Year Ending of March 31, 2023, Payable on December 9, 2022 Shinko Shoji Co., Ltd. announced dividend for the second quarter of year ending of March 31, 2023. For the quarter the company expects to pay the dividend of JPY 29.00 per share against JPY 23.00 a year ago. Scheduled date of commencing dividend payments is December 9, 2022. Announcement • Nov 22
Shinko Shoji Co., Ltd. Revises Consolidated Financial Results Forecasts for the Fiscal Year Ending March 31, 2023 Shinko Shoji Co., Ltd. revised consolidated financial results forecasts for the fiscal year ending March 31, 2023. For the year, company raised net sales from JPY 160,000 million to JPY 170,000 million, operating profit from JPY 4,300 million to JPY 5,600 million, Profit attributable to owners of parent from JPY 3,000 million to JPY 3,900 million and Net earnings per share from JPY 82.29 to JPY 111.73. Announcement • Nov 21
Shinko Shoji Co., Ltd. Provides Consolidated Earnings Guidance for Year Ending March 31, 2023 Shinko Shoji Co., Ltd. provided consolidated earnings guidance for year ending March 31, 2023 . For the period, the company expected net sales of JPY 170,000 million, operating profit of JPY 5,600 million, profit attributable to owners of parent of JPY 3,900 million, Basic earnings per share of JPY 111.73 per basic share. Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: JP¥35.53 (vs JP¥9.05 in 2Q 2022) Second quarter 2023 results: EPS: JP¥35.53 (up from JP¥9.05 in 2Q 2022). Revenue: JP¥48.1b (up 70% from 2Q 2022). Net income: JP¥1.21b (up 261% from 2Q 2022). Profit margin: 2.5% (up from 1.2% 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 53% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Toshihiko Ishihara was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥35.53 (vs JP¥9.05 in 2Q 2022) Second quarter 2023 results: EPS: JP¥35.53 (up from JP¥9.05 in 2Q 2022). Revenue: JP¥48.1b (up 70% from 2Q 2022). Net income: JP¥1.21b (up 261% from 2Q 2022). Profit margin: 2.5% (up from 1.2% 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 53% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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: 30 November 2022. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥29.52 (vs JP¥12.50 in 1Q 2022) First quarter 2023 results: EPS: JP¥29.52 (up from JP¥12.50 in 1Q 2022). Revenue: JP¥41.4b (up 36% from 1Q 2022). Net income: JP¥1.05b (up 127% from 1Q 2022). Profit margin: 2.5% (up from 1.5% in 1Q 2022). 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 fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 18
Shinko Shoji Co., Ltd. (TSE:8141) announces an Equity Buyback for 4,500,000 shares, representing 12.47% for ¥3,000 million. Shinko Shoji Co., Ltd. (TSE:8141) announces a share repurchase program. Under the program, the company will repurchase up to 4,500,000 shares, representing 12.47% of its share capital, for ¥3,000 million. The company will repurchase its shares in order to carry out agile capital policies in response to changes in the business environment. The share repurchase program will run until March 31, 2023. As of May 31, 2022, the company had 36,078,156 shares outstanding (excluding treasury shares) and 857,900 shares in treasury. Reported Earnings • May 19
Full year 2022 earnings released: EPS: JP¥76.11 (vs JP¥33.85 in FY 2021) Full year 2022 results: EPS: JP¥76.11 (up from JP¥33.85 in FY 2021). Revenue: JP¥135.2b (up 31% from FY 2021). Net income: JP¥2.82b (up 125% from FY 2021). Profit margin: 2.1% (up from 1.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 8 non-independent directors. Independent Outside Director Tatsuyoshi Yoshiike 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. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Announcement • Feb 15
Shinko Shoji Co., Ltd. (TSE:8141) announces an Equity Buyback for 1,500,000 shares, representing 4.04% for ¥1,000 million. Shinko Shoji Co., Ltd. (TSE:8141) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 4.04% of its share capital, for ¥1,000 million. The company will repurchase its shares in order to carry out agile capital policies in response to changes in the business environment. The share repurchase program will run until August 15, 2022. As of January 31, 2022, the company had 37,147,194 shares outstanding (excluding treasury shares) and 863,372 shares in treasury. Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥16.80 (up from JP¥7.66 in 3Q 2021). Revenue: JP¥33.4b (up 24% from 3Q 2021). Net income: JP¥624.0m (up 120% from 3Q 2021). Profit margin: 1.9% (up from 1.1% 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 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 31
Second quarter 2022 earnings released: EPS JP¥9.05 (vs JP¥4.32 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥28.2b (up 22% from 2Q 2021). Net income: JP¥336.0m (up 110% from 2Q 2021). Profit margin: 1.2% (up from 0.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 3.8%. Within 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¥12.50 (vs JP¥0.76 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥30.4b (up 46% from 1Q 2021). Net income: JP¥464.0m (up JP¥436.0m from 1Q 2021). Profit margin: 1.5% (up from 0.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 17
Full year 2021 earnings released: EPS JP¥33.85 (vs JP¥32.91 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥102.9b (up 1.3% from FY 2020). Net income: JP¥1.26b (up 1.5% from FY 2020). Profit margin: 1.2% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 08 June 2021. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Announcement • Mar 21
Shinko Shoji Co., Ltd. to Report Fiscal Year 2021 Results on May 14, 2021 Shinko Shoji Co., Ltd. announced that they will report fiscal year 2021 results on May 14, 2021 Is New 90 Day High Low • Mar 09
New 90-day high: JP¥814 The company is up 10.0% from its price of JP¥741 on 09 December 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 3.0% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥7.66 (vs JP¥3.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥27.0b (up 8.0% from 3Q 2020). Net income: JP¥284.0m (up 110% from 3Q 2020). Profit margin: 1.1% (up from 0.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Dec 30
Shinko Shoji Co., Ltd. to Report Q3, 2021 Results on Jan 29, 2021 Shinko Shoji Co., Ltd. announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Dec 21
New 90-day low: JP¥727 The company is down 19% from its price of JP¥898 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. 
