Reported Earnings • May 20
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥56.61 (down from JP¥83.04 in FY 2025). Revenue: JP¥71.5b (down 1.5% from FY 2025). Net income: JP¥1.48b (down 32% from FY 2025). Profit margin: 2.1% (down from 3.0% in FY 2025). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 33%. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. Announcement • May 15
Forval Corporation, Annual General Meeting, Jun 19, 2026 Forval Corporation, Annual General Meeting, Jun 19, 2026. Announcement • May 10
Forval Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Forval Corporation announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥31.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 11
Third quarter 2026 earnings released: JP¥10.22 loss per share (vs JP¥25.88 profit in 3Q 2025) Third quarter 2026 results: JP¥10.22 loss per share (down from JP¥25.88 profit in 3Q 2025). Revenue: JP¥17.6b (down 9.1% from 3Q 2025). Net loss: JP¥267.0m (down 140% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Announcement • Dec 05
Forval Corporation to Report Q3, 2026 Results on Feb 10, 2026 Forval Corporation announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥20.62 (vs JP¥23.92 in 2Q 2025) Second quarter 2026 results: EPS: JP¥20.62 (down from JP¥23.92 in 2Q 2025). Revenue: JP¥17.9b (flat on 2Q 2025). Net income: JP¥538.0m (down 14% from 2Q 2025). Profit margin: 3.0% (down from 3.5% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Declared Dividend • Nov 14
Dividend of JP¥31.00 announced Shareholders will receive a dividend of JP¥31.00. Ex-date: 30th March 2026 Payment date: 5th June 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 02
Forval Corporation to Report Q2, 2026 Results on Nov 12, 2025 Forval Corporation announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Aug 11
First quarter 2026 earnings released: EPS: JP¥2.46 (vs JP¥15.68 in 1Q 2025) First quarter 2026 results: EPS: JP¥2.46 (down from JP¥15.68 in 1Q 2025). Revenue: JP¥16.0b (down 5.4% from 1Q 2025). Net income: JP¥64.0m (down 84% from 1Q 2025). Profit margin: 0.4% (down from 2.4% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Announcement • Jun 27
Forval Corporation to Report Q1, 2026 Results on Aug 08, 2025 Forval Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • Jun 25
Full year 2025 earnings released: EPS: JP¥83.04 (vs JP¥78.20 in FY 2024) Full year 2025 results: EPS: JP¥83.04 (up from JP¥78.20 in FY 2024). Revenue: JP¥72.6b (up 14% from FY 2024). Net income: JP¥2.17b (up 7.8% from FY 2024). Profit margin: 3.0% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 17
Full year 2025 earnings released: EPS: JP¥83.04 (vs JP¥78.20 in FY 2024) Full year 2025 results: EPS: JP¥83.04 (up from JP¥78.20 in FY 2024). Revenue: JP¥72.6b (up 14% from FY 2024). Net income: JP¥2.17b (up 7.8% from FY 2024). Profit margin: 3.0% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Announcement • May 13
Forval Corporation, Annual General Meeting, Jun 20, 2025 Forval Corporation, Annual General Meeting, Jun 20, 2025. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,285, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 69% over the past three years. Announcement • Apr 03
Forval Corporation (TSE:8275) acquired Telect Co., Ltd. Forval Corporation (TSE:8275) acquired Telect Co., Ltd. on March 17, 2025.
Forval Corporation (TSE:8275) completed the acquisition of Telect Co., Ltd. on March 17, 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: 05 June 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (1.7%). Buy Or Sell Opportunity • Mar 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥1,503. The fair value is estimated to be JP¥1,237, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 10%. Announcement • Mar 04
Forval Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Forval Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥21.12 (vs JP¥11.44 in 3Q 2024) Third quarter 2025 results: EPS: JP¥21.12 (up from JP¥11.44 in 3Q 2024). Revenue: JP¥18.1b (up 18% from 3Q 2024). Net income: JP¥550.0m (up 87% from 3Q 2024). Profit margin: 3.0% (up from 1.9% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 13
Forval Corporation Provides Dividend Guidance for the Year Ending March 31, 2025 Forval Corporation provided dividend guidance for the year ending March 31, 2025. For the year, the company expects dividend of JPY 30.00 per share against JPY 28.00 per share paid a year ago. New Risk • Feb 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.0% 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. This is currently the only risk that has been identified for the company. Announcement • Dec 04
Forval Corporation to Report Q3, 2025 Results on Feb 12, 2025 Forval Corporation announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 19
Second quarter 2025 earnings released: EPS: JP¥23.92 (vs JP¥26.80 in 2Q 2024) Second quarter 2025 results: EPS: JP¥23.92 (down from JP¥26.80 in 2Q 2024). Revenue: JP¥18.0b (up 11% from 2Q 2024). Net income: JP¥625.0m (down 9.3% from 2Q 2024). Profit margin: 3.5% (down from 4.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Declared Dividend • Nov 15
Dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 5th June 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 59% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.6% EPS decline seen over the last 5 years. Announcement • Aug 31
Forval Corporation to Report Q2, 2025 Results on Nov 13, 2024 Forval Corporation announced that they will report Q2, 2025 results on Nov 13, 2024 Announcement • Aug 20
Forval Corporation (TSE:8275) announces an Equity Buyback for 160,000 shares, representing 0.61% for ¥216 million. Forval Corporation (TSE:8275) announces a share repurchase program. Under the program, the company will repurchase up to 160,000 shares, representing 0.61% of its issued share capital (excluding treasury stock), for a total purchase price of ¥216 million. The shares will be repurchased at a price of ¥1,350 per share. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, improve capital efficiency, and provide shareholder returns. As of August 19, 2024, the company has 26,198,106 issued shares (excluding treasury stock) and 1,534,516 treasury shares. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: JP¥7.44 (vs JP¥9.84 in 1Q 2024) First quarter 2025 results: EPS: JP¥7.44 (down from JP¥9.84 in 1Q 2024). Revenue: JP¥15.8b (up 10% from 1Q 2024). Net income: JP¥195.0m (down 23% from 1Q 2024). Profit margin: 1.2% (down from 1.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to JP¥1,139, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 12x in the Electronic industry in Japan. Total returns to shareholders of 28% over the past three years. New Risk • Aug 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Announcement • Jun 28
Forval Corporation to Report Q1, 2025 Results on Aug 09, 2024 Forval Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥78.20 (vs JP¥65.39 in FY 2023) Full year 2024 results: EPS: JP¥78.20 (up from JP¥65.39 in FY 2023). Revenue: JP¥63.5b (up 6.7% from FY 2023). Net income: JP¥2.01b (up 20% from FY 2023). Profit margin: 3.2% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥78.20 (vs JP¥65.39 in FY 2023) Full year 2024 results: EPS: JP¥78.20 (up from JP¥65.39 in FY 2023). Revenue: JP¥63.5b (up 6.7% from FY 2023). Net income: JP¥2.01b (up 20% from FY 2023). Profit margin: 3.2% (up from 2.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Announcement • May 04
Forval Corporation (TSE:8275) acquired unknown majority stake in Tanita Health Link, Inc. from INCJ, Ltd. Forval Corporation (TSE:8275) acquired unknown majority stake in Tanita Health Link, Inc. from INCJ, Ltd. on May 1, 2024.Forval Corporation (TSE:8275) completed the acquisition of unknown majority stake in Tanita Health Link, Inc. from INCJ, Ltd. on May 1, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 05 June 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (1.4%). Announcement • Mar 02
Forval Corporation to Report Fiscal Year 2024 Results on May 13, 2024 Forval Corporation announced that they will report fiscal year 2024 results on May 13, 2024 Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥1,405, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 81% over the past three years. Announcement • Feb 13
Forval Corporation Provides Dividend Guidance for the Year Ending March 31, 2024 Forval Corporation provided dividend guidance for the year ending March 31, 2024. For the year, the company expected dividend of JPY 28.00 per share as compared to JPY 27.00 per share paid a year ago. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: JP¥11.44 (vs JP¥11.87 in 3Q 2023) Third quarter 2024 results: EPS: JP¥11.44 (down from JP¥11.87 in 3Q 2023). Revenue: JP¥15.4b (up 5.7% from 3Q 2023). Net income: JP¥294.0m (down 3.6% from 3Q 2023). Profit margin: 1.9% (down from 2.1% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 15% per year, which means it is significantly lagging earnings growth. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% 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 Earnings have declined by 2.2% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Announcement • Dec 07
Forval Corporation to Report Q3, 2024 Results on Feb 09, 2024 Forval Corporation announced that they will report Q3, 2024 results on Feb 09, 2024 Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥1,420, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 14x in the Electronic industry in Japan. Total returns to shareholders of 76% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: JP¥26.80 (vs JP¥9.32 in 2Q 2023) Second quarter 2024 results: EPS: JP¥26.80 (up from JP¥9.32 in 2Q 2023). Revenue: JP¥16.2b (up 12% from 2Q 2023). Net income: JP¥689.0m (up 188% from 2Q 2023). Profit margin: 4.2% (up from 1.7% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Forval Corporation to Report Q2, 2024 Results on Nov 10, 2023 Forval Corporation announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥9.84 (vs JP¥2.30 in 1Q 2023) First quarter 2024 results: EPS: JP¥9.84 (up from JP¥2.30 in 1Q 2023). Revenue: JP¥14.3b (up 9.8% from 1Q 2023). Net income: JP¥253.0m (up 329% from 1Q 2023). Profit margin: 1.8% (up from 0.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 20
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be JP¥1,450, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 29%. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.2% 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 Earnings have declined by 7.6% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.2% average weekly change). Announcement • Jun 28
Forval Corporation to Report Q1, 2024 Results on Aug 09, 2023 Forval Corporation announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥65.39 (vs JP¥71.68 in FY 2022) Full year 2023 results: EPS: JP¥65.39 (down from JP¥71.68 in FY 2022). Revenue: JP¥59.5b (up 16% from FY 2022). Net income: JP¥1.68b (down 8.6% from FY 2022). Profit margin: 2.8% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 14
Forval Corporation, Annual General Meeting, Jun 23, 2023 Forval Corporation, Annual General Meeting, Jun 23, 2023. Buying Opportunity • May 10
Now 23% undervalued Over the last 90 days, the stock is up 7.8%. The fair value is estimated to be JP¥1,455, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 8.9%. Buying Opportunity • Apr 21
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be JP¥1,445, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 8.9%. Buying Opportunity • Apr 06
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be JP¥1,448, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 8.9%. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥27.00 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 05 June 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.6%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥11.86 (vs JP¥16.19 in 3Q 2022) Third quarter 2023 results: EPS: JP¥11.86 (down from JP¥16.19 in 3Q 2022). Revenue: JP¥14.6b (up 15% from 3Q 2022). Net income: JP¥305.0m (down 27% from 3Q 2022). Profit margin: 2.1% (down from 3.3% 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 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Forval Corporation to Report Q3, 2023 Results on Feb 10, 2023 Forval Corporation announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. No independent directors (4 non-independent directors). Director Tatsuya Yuki was the last 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥9.32 (vs JP¥14.88 in 2Q 2022) Second quarter 2023 results: EPS: JP¥9.32 (down from JP¥14.88 in 2Q 2022). Revenue: JP¥14.5b (up 20% from 2Q 2022). Net income: JP¥239.0m (down 37% from 2Q 2022). Profit margin: 1.7% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Announcement • Sep 09
Forval Corporation to Report Q2, 2023 Results on Nov 10, 2022 Forval Corporation announced that they will report Q2, 2023 results on Nov 10, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥2.30 (vs JP¥13.76 in 1Q 2022) First quarter 2023 results: EPS: JP¥2.30 (down from JP¥13.76 in 1Q 2022). Revenue: JP¥13.1b (up 15% from 1Q 2022). Net income: JP¥59.0m (down 83% from 1Q 2022). Profit margin: 0.5% (down from 3.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jun 19
Forval Corporation to Report Q1, 2023 Results on Aug 09, 2022 Forval Corporation announced that they will report Q1, 2023 results on Aug 09, 2022 Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥71.68 (vs JP¥53.31 in FY 2021) Full year 2022 results: EPS: JP¥71.68 (up from JP¥53.31 in FY 2021). Revenue: JP¥51.5b (up 3.5% from FY 2021). Net income: JP¥1.84b (up 35% from FY 2021). Profit margin: 3.6% (up from 2.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • May 18
Forval Corporation, Annual General Meeting, Jun 24, 2022 Forval Corporation, Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. No independent directors (5 non-independent directors). Director Tatsuya Yuki was the last 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: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
Forval Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Forval Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥16.19 (up from JP¥14.16 in 3Q 2021). Revenue: JP¥12.6b (flat on 3Q 2021). Net income: JP¥415.0m (up 15% from 3Q 2021). Profit margin: 3.3% (up from 2.9% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS JP¥14.88 (vs JP¥14.74 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥12.1b (down 2.9% from 2Q 2021). Net income: JP¥381.0m (up 1.3% from 2Q 2021). Profit margin: 3.1% (up from 3.0% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥13.76 (vs JP¥3.34 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥11.3b (up 3.0% from 1Q 2021). Net income: JP¥352.0m (up 319% from 1Q 2021). Profit margin: 3.1% (up from 0.8% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥53.31 (vs JP¥42.45 in FY 2020) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥49.8b (flat on FY 2020). Net income: JP¥1.36b (up 27% from FY 2020). Profit margin: 2.7% (up from 2.1% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥26.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 02 June 2021. Trailing yield: 2.9%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS JP¥14.15 (vs JP¥16.26 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥12.6b (up 3.8% from 3Q 2020). Net income: JP¥362.0m (down 12% from 3Q 2020). Profit margin: 2.9% (down from 3.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 20
New 90-day low: JP¥782 The company is down 15% from its price of JP¥916 on 22 October 2020. The Japanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. Announcement • Dec 25
Forval Corporation to Report Q3, 2021 Results on Feb 09, 2021 Forval Corporation announced that they will report Q3, 2021 results on Feb 09, 2021 Is New 90 Day High Low • Dec 24
New 90-day low: JP¥817 The company is down 17% from its price of JP¥980 on 25 September 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 17% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: JP¥864 The company is down 8.0% from its price of JP¥940 on 09 September 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 17% over the same period. Announcement • Oct 10
Forval Corporation to Report Q2, 2021 Results on Nov 11, 2020 Forval Corporation announced that they will report Q2, 2021 results on Nov 11, 2020