Declared Dividend • Jun 10
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 29th September 2026 Payment date: 22nd December 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (175% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 30
TOYO Corporation to Report Q3, 2026 Results on Aug 05, 2026 TOYO Corporation announced that they will report Q3, 2026 results on Aug 05, 2026 Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥2,175, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Electronic industry in Japan. Total returns to shareholders of 83% over the past three years. Reported Earnings • May 15
Second quarter 2026 earnings released: EPS: JP¥107 (vs JP¥46.11 in 2Q 2025) Second quarter 2026 results: EPS: JP¥107 (up from JP¥46.11 in 2Q 2025). Revenue: JP¥14.8b (up 33% from 2Q 2025). Net income: JP¥2.31b (up 133% from 2Q 2025). Profit margin: 16% (up from 8.9% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 10 June 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 15
First quarter 2026 earnings released: JP¥5.66 loss per share (vs JP¥6.26 loss in 1Q 2025) First quarter 2026 results: JP¥5.66 loss per share (improved from JP¥6.26 loss in 1Q 2025). Revenue: JP¥6.65b (up 6.8% from 1Q 2025). Net loss: JP¥122.0m (loss narrowed 9.3% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jan 23
TOYO Corporation (TSE:8151) agreed to acquire SONICGUARD Co., Ltd. for ¥770 million, TOYO Corporation (TSE:8151) agreed to acquire SONICGUARD Co., Ltd. for ¥770 million on January 22, 2026. A cash consideration of ¥770 million will be paid by TOYO Corporation. As part of consideration, ¥770 million is paid towards common equity of SONICGUARD Co., Ltd.
For the period ending November 30, 2025, SONICGUARD Co., Ltd. reported total revenue of ¥1.08 billion and EBIT of ¥209.24 million. As of December 31, 2025, SONICGUARD Co., Ltd. reported total assets of ¥1.25 billion and total common equity of ¥911.21 million.
The transaction is subject to approval of offer by Toyota Motor Corporation board. The deal has been approved by the board. The expected completion of the transaction is January 28, 2026. Declared Dividend • Jan 08
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 30th March 2026 Payment date: 10th June 2026 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (124% earnings payout ratio) nor is it covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 8.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control. EPS is expected to grow by 118% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Dec 25
TOYO Corporation to Report Q1, 2026 Results on Feb 13, 2026 TOYO Corporation announced that they will report Q1, 2026 results on Feb 13, 2026 Reported Earnings • Nov 15
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥55.52 (down from JP¥113 in FY 2024). Revenue: JP¥32.6b (down 7.1% from FY 2024). Net income: JP¥1.20b (down 53% from FY 2024). Profit margin: 3.7% (down from 7.2% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Electronic industry in Japan. 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 8% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 29
Now 21% undervalued Over the last 90 days, the stock has risen 6.3% to JP¥1,628. The fair value is estimated to be JP¥2,061, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 267% in the next 2 years. Buy Or Sell Opportunity • Oct 10
Now 22% undervalued Over the last 90 days, the stock has risen 8.4% to JP¥1,628. The fair value is estimated to be JP¥2,075, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 267% in the next 2 years. Announcement • Sep 27
TOYO Corporation to Report Fiscal Year 2025 Results on Nov 12, 2025 TOYO Corporation announced that they will report fiscal year 2025 results on Nov 12, 2025 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥39.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 23 December 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Aug 08
Third quarter 2025 earnings released: JP¥11.56 loss per share (vs JP¥7.02 loss in 3Q 2024) Third quarter 2025 results: JP¥11.56 loss per share (further deteriorated from JP¥7.02 loss in 3Q 2024). Revenue: JP¥6.07b (up 9.3% from 3Q 2024). Net loss: JP¥249.0m (loss widened 58% from 3Q 2024). Revenue is forecast to grow 16% 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 increased by 1% per year whereas the company’s share price has increased by 5% per year. Announcement • Jun 27
TOYO Corporation to Report Q3, 2025 Results on Aug 06, 2025 TOYO Corporation announced that they will report Q3, 2025 results on Aug 06, 2025 Declared Dividend • Jun 11
First half dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 29th September 2025 Payment date: 23rd December 2025 Dividend yield will be 4.8%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (177% earnings payout ratio). However, it is well covered by cash flows (42% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 97% to bring the payout ratio under control. EPS is expected to grow by 187% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • May 19
Second quarter 2025 earnings released: EPS: JP¥46.11 (vs JP¥81.28 in 2Q 2024) Second quarter 2025 results: EPS: JP¥46.11 (down from JP¥81.28 in 2Q 2024). Revenue: JP¥11.2b (down 17% from 2Q 2024). Net income: JP¥992.4m (down 46% from 2Q 2024). Profit margin: 8.9% (down from 14% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% 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 increased by 8% per year whereas the company’s share price has increased by 10% per year. Announcement • Mar 26
TOYO Corporation to Report Q2, 2025 Results on May 14, 2025 TOYO Corporation announced that they will report Q2, 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 11 June 2025. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Reported Earnings • Feb 14
First quarter 2025 earnings released: JP¥6.26 loss per share (vs JP¥29.39 profit in 1Q 2024) First quarter 2025 results: JP¥6.26 loss per share (down from JP¥29.39 profit in 1Q 2024). Revenue: JP¥6.22b (down 10% from 1Q 2024). Net loss: JP¥134.4m (down 121% from profit in 1Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to JP¥1,380. The fair value is estimated to be JP¥1,750, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 8.6% per annum over the same time period. Announcement • Jan 17
TOYO Corporation to Report Q1, 2025 Results on Feb 12, 2025 TOYO Corporation announced that they will report Q1, 2025 results on Feb 12, 2025 Buy Or Sell Opportunity • Jan 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to JP¥1,397. The fair value is estimated to be JP¥1,753, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 8.6% per annum over the same time period. Declared Dividend • Jan 06
Final dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 11th June 2025 Dividend yield will be 5.0%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 28
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥113 (up from JP¥67.49 in FY 2023). Revenue: JP¥35.0b (up 24% from FY 2023). Net income: JP¥2.52b (up 64% from FY 2023). Profit margin: 7.2% (up from 5.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Dec 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to JP¥1,402. The fair value is estimated to be JP¥1,756, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 8.6% per annum over the same time period. Reported Earnings • Nov 19
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: JP¥113 (up from JP¥67.49 in FY 2023). Revenue: JP¥35.0b (up 24% from FY 2023). Net income: JP¥2.52b (up 65% from FY 2023). Profit margin: 7.2% (up from 5.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 1.5%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Nov 14
TOYO Corporation, Annual General Meeting, Dec 20, 2024 TOYO Corporation, Annual General Meeting, Dec 20, 2024. Announcement • Nov 13
TOYO Corporation Resolves to Pay Fiscal Year End Dividend for the Fiscal Year Ending September 30, 2024, Payable on December 23, 2024 TOYO Corporation at its board meeting held on November 13, 2024 resolved to pay fiscal year end dividend of surplus with a record date of September 30, 2024 for the Fiscal Year Ending September 30, 2024. Dividend per share is ¥43.00. Effective date is December 23, 2024. Dividends of surplus will be distributed following a resolution at the 72nd Ordinary General Meeting of Shareholders scheduled to be held on December 20, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 23 December 2024. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 12
Third quarter 2024 earnings released: JP¥7.02 loss per share (vs JP¥7.86 loss in 3Q 2023) Third quarter 2024 results: JP¥7.02 loss per share (improved from JP¥7.86 loss in 3Q 2023). Revenue: JP¥5.55b (down 2.1% from 3Q 2023). Net loss: JP¥157.3m (loss narrowed 11% from 3Q 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
TOYO Corporation (TSE:8151) announces an Equity Buyback for 1,200,000 shares, representing 5.35% for ¥1,500 million. Kpp Group Holdings Co., Ltd. (TSE:9274) announces a share repurchase program. Under the program, the company will repurchase 1,200,000 shares, representing 5.35% of the outstanding shares for ¥1,500 million. The purpose of the program is to enhance shareholder returns, to improve capital efficiency, to implement flexible capital management in response to changes in the business environment. The program will run until July 31, 2025. As of July 31, 2024, the company had 22,416,135 shares outstanding and 3,668,865 shares in treasury. Buy Or Sell Opportunity • Aug 08
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to JP¥1,565. The fair value is estimated to be JP¥1,192, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 1.1% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to JP¥1,273, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥836 per share. Announcement • Jun 29
TOYO Corporation to Report Q3, 2024 Results on Aug 07, 2024 TOYO Corporation announced that they will report Q3, 2024 results on Aug 07, 2024 New Risk • May 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • May 17
Dividend of JP¥37.00 announced Shareholders will receive a dividend of JP¥37.00. Ex-date: 27th September 2024 Payment date: 23rd December 2024 Dividend yield will be 4.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (51% 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 6.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 16
TOYO Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending September 30, 2024 TOYO Corporation revised consolidated earnings guidance for the fiscal year ending September 30, 2024. For the year, the company expects net sales to be JPY 34,500 million against JPY 32,000 million forecasted earlier, operating profit to be JPY 3,350 million against JPY 3,000 million forecasted earlier, profit attributed to owners of parent to be JPY 2,500 million against JPY 2,300 million forecasted earlier and basic earnings per share to be JPY 111.53 against JPY 102.91 forecasted earlier. Announcement • Apr 05
TOYO Corporation to Report Q2, 2024 Results on May 15, 2024 TOYO Corporation announced that they will report Q2, 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 16
First quarter 2024 earnings released: EPS: JP¥29.39 (vs JP¥8.06 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥29.39 (up from JP¥8.06 loss in 1Q 2023). Revenue: JP¥6.94b (up 26% from 1Q 2023). Net income: JP¥657.0m (up JP¥844.0m from 1Q 2023). Profit margin: 9.5% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 21
TOYO Corporation to Report Q1, 2024 Results on Feb 14, 2024 TOYO Corporation announced that they will report Q1, 2024 results on Feb 14, 2024 Reported Earnings • Dec 28
Full year 2023 earnings released: EPS: JP¥67.49 (vs JP¥81.12 in FY 2022) Full year 2023 results: EPS: JP¥67.49 (down from JP¥81.12 in FY 2022). Revenue: JP¥28.2b (up 6.3% from FY 2022). Net income: JP¥1.53b (down 20% from FY 2022). Profit margin: 5.4% (down from 7.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Dec 01
TOYO Corporation (TSE:8151) acquired Rototest International AB. TOYO Corporation (TSE:8151) acquired Rototest International AB on November 30, 2023.TOYO Corporation (TSE:8151) completed the acquisition of Rototest International AB on November 30, 2023. Announcement • Nov 11
TOYO Corporation, Annual General Meeting, Dec 21, 2023 TOYO Corporation, Annual General Meeting, Dec 21, 2023. Reported Earnings • Nov 09
Full year 2023 earnings released: EPS: JP¥67.49 (vs JP¥81.12 in FY 2022) Full year 2023 results: EPS: JP¥67.49 (down from JP¥81.12 in FY 2022). Revenue: JP¥28.2b (up 6.3% from FY 2022). Net income: JP¥1.53b (down 20% from FY 2022). Profit margin: 5.4% (down from 7.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Sep 28
TOYO Corporation to Report Fiscal Year 2023 Results on Nov 08, 2023 TOYO Corporation announced that they will report fiscal year 2023 results on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥32.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 25 December 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (1.4%). Reported Earnings • Aug 10
Third quarter 2023 earnings released: JP¥7.86 loss per share (vs JP¥5.57 loss in 3Q 2022) Third quarter 2023 results: JP¥7.86 loss per share (further deteriorated from JP¥5.57 loss in 3Q 2022). Revenue: JP¥5.67b (up 14% from 3Q 2022). Net loss: JP¥177.0m (loss widened 34% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 24
TOYO Corporation to Report Q3, 2023 Results on Aug 09, 2023 TOYO Corporation announced that they will report Q3, 2023 results on Aug 09, 2023 Reported Earnings • May 12
Second quarter 2023 earnings released: EPS: JP¥58.04 (vs JP¥50.33 in 2Q 2022) Second quarter 2023 results: EPS: JP¥58.04 (up from JP¥50.33 in 2Q 2022). Revenue: JP¥9.97b (up 18% from 2Q 2022). Net income: JP¥1.33b (up 11% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 07 June 2023. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 12
First quarter 2023 earnings released: JP¥8.06 loss per share (vs JP¥17.00 profit in 1Q 2022) First quarter 2023 results: JP¥8.06 loss per share (down from JP¥17.00 profit in 1Q 2022). Revenue: JP¥5.51b (flat on 1Q 2022). Net loss: JP¥187.0m (down 147% from profit in 1Q 2022). 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 7% per year. Announcement • Jan 12
TOYO Corporation to Report Q1, 2023 Results on Feb 08, 2023 TOYO Corporation announced that they will report Q1, 2023 results on Feb 08, 2023 Reported Earnings • Dec 28
Full year 2022 earnings released: EPS: JP¥81.12 (vs JP¥70.93 in FY 2021) Full year 2022 results: EPS: JP¥81.12 (up from JP¥70.93 in FY 2021). Revenue: JP¥26.5b (up 13% from FY 2021). Net income: JP¥1.92b (up 11% from FY 2021). Profit margin: 7.2% (down from 7.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 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. 9 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Outside Director Nobuyoshi Akiyama was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Full year 2022 earnings released: EPS: JP¥81.12 (vs JP¥70.93 in FY 2021) Full year 2022 results: EPS: JP¥81.12 (up from JP¥70.93 in FY 2021). Revenue: JP¥26.5b (up 13% from FY 2021). Net income: JP¥1.92b (up 11% from FY 2021). Profit margin: 7.2% (down from 7.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 26 December 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 12
Third quarter 2022 earnings released: JP¥5.57 loss per share (vs JP¥4.88 profit in 3Q 2021) Third quarter 2022 results: JP¥5.57 loss per share (down from JP¥4.88 profit in 3Q 2021). Revenue: JP¥4.96b (down 1.3% from 3Q 2021). Net loss: JP¥132.0m (down 210% from profit in 3Q 2021). 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 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
Second quarter 2022 earnings released: EPS: JP¥50.33 (vs JP¥46.87 in 2Q 2021) Second quarter 2022 results: EPS: JP¥50.33 (up from JP¥46.87 in 2Q 2021). Revenue: JP¥8.45b (down 2.8% from 2Q 2021). Net income: JP¥1.19b (up 3.4% from 2Q 2021). Profit margin: 14% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% 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. 2 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Outside Director Nobuyoshi Akiyama was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 10
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: JP¥17.00 (up from JP¥9.59 in 1Q 2021). Revenue: JP¥5.56b (up 27% from 1Q 2021). Net income: JP¥402.0m (up 71% from 1Q 2021). Profit margin: 7.2% (up from 5.4% in 1Q 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 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 04
Full year 2021 earnings released: EPS JP¥70.93 (vs JP¥58.71 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥23.5b (up 1.8% from FY 2020). Net income: JP¥1.73b (up 21% from FY 2020). Profit margin: 7.4% (up from 6.2% in FY 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 25 December 2021. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 06
Third quarter 2021 earnings released: EPS JP¥4.88 (vs JP¥9.84 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.02b (up 17% from 3Q 2020). Net income: JP¥120.0m (up JP¥361.0m from 3Q 2020). Profit margin: 2.4% (up from net loss in 3Q 2020). 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 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 12
Second quarter 2021 earnings released: EPS JP¥46.87 (vs JP¥49.57 in 2Q 2020) The company reported a soft second quarter result with weaker earnings, although revenues and profit margins were flat. Second quarter 2021 results: Revenue: JP¥8.70b (flat on 2Q 2020). Net income: JP¥1.15b (down 5.0% from 2Q 2020). Profit margin: 13% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 28% 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 • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 03 June 2021. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Feb 26
New 90-day low: JP¥1,053 The company is down 4.0% from its price of JP¥1,092 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Reported Earnings • Feb 10
First quarter 2021 earnings released: EPS JP¥9.59 (vs JP¥1.63 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: JP¥4.37b (flat on 1Q 2020). Net income: JP¥235.0m (up JP¥275.0m from 1Q 2020). Profit margin: 5.4% (up from net loss in 1Q 2020). 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. Is New 90 Day High Low • Jan 12
New 90-day high: JP¥1,206 The company is up 21% from its price of JP¥997 on 14 October 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Electronic industry, which is also up 21% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: JP¥1,156 The company is up 14% from its price of JP¥1,015 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: JP¥1,123 The company is up 15% from its price of JP¥974 on 11 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 18% over the same period.