Announcement • Jun 10
The Sumitomo Warehouse Co., Ltd. to Report Q1, 2027 Results on Aug 07, 2026 The Sumitomo Warehouse Co., Ltd. announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 13
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥231 (down from JP¥257 in FY 2025). Revenue: JP¥196.2b (up 1.5% from FY 2025). Net income: JP¥17.7b (down 12% from FY 2025). Profit margin: 9.0% (down from 10% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.4%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces an Equity Buyback for 2,000,000 shares, representing 2.62% for ¥7,000 million. The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 2.62% of its issued share capital, for ¥7,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The repurchased shares will be retired. The authority shall expire on March 24, 2027. As of April 30, 2026, the company had 76,219,096 shares outstanding and 395,119 treasury shares. Announcement • May 12
The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 25, 2026 The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 25, 2026. Announcement • Mar 27
The Sumitomo Warehouse Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 The Sumitomo Warehouse Co., Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥51.50 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.6%). Price Target Changed • Mar 02
Price target increased by 7.8% to JP¥3,475 Up from JP¥3,225, the current price target is an average from 4 analysts. New target price is 15% below last closing price of JP¥4,075. Stock is up 46% over the past year. The company is forecast to post earnings per share of JP¥211 for next year compared to JP¥257 last year. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: JP¥46.54 (vs JP¥52.90 in 3Q 2025) Third quarter 2026 results: EPS: JP¥46.54 (down from JP¥52.90 in 3Q 2025). Revenue: JP¥50.1b (up 3.4% from 3Q 2025). Net income: JP¥3.55b (down 14% from 3Q 2025). Profit margin: 7.1% (down from 8.5% in 3Q 2025). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Dec 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to JP¥3,545. The fair value is estimated to be JP¥2,941, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 7.0%. For the next 3 years, revenue is forecast to grow by 1.8% per annum. Earnings are forecast to decline by 9.8% per annum over the same time period. Buy Or Sell Opportunity • Dec 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to JP¥3,515. The fair value is estimated to be JP¥2,912, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 7.0%. For the next 3 years, revenue is forecast to grow by 1.8% per annum. Earnings are forecast to decline by 9.8% per annum over the same time period. Announcement • Dec 11
The Sumitomo Warehouse Co., Ltd. to Report Q3, 2026 Results on Feb 03, 2026 The Sumitomo Warehouse Co., Ltd. announced that they will report Q3, 2026 results on Feb 03, 2026 Declared Dividend • Dec 02
First half dividend of JP¥51.50 announced Shareholders will receive a dividend of JP¥51.50. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 23% over the next 3 years. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: JP¥48.90 (vs JP¥24.12 in 2Q 2025) Second quarter 2026 results: EPS: JP¥48.90 (up from JP¥24.12 in 2Q 2025). Revenue: JP¥48.8b (flat on 2Q 2025). Net income: JP¥3.75b (up 99% from 2Q 2025). Profit margin: 7.7% (up from 3.9% in 2Q 2025). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥51.50 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (3.0%). Announcement • Sep 21
The Sumitomo Warehouse Co., Ltd. to Report Q2, 2026 Results on Nov 06, 2025 The Sumitomo Warehouse Co., Ltd. announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 06
First quarter 2026 earnings released: EPS: JP¥41.02 (vs JP¥41.66 in 1Q 2025) First quarter 2026 results: EPS: JP¥41.02 (down from JP¥41.66 in 1Q 2025). Revenue: JP¥47.9b (up 3.2% from 1Q 2025). Net income: JP¥3.16b (down 3.6% from 1Q 2025). Profit margin: 6.6% (down from 7.1% in 1Q 2025). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend increased to JP¥51.50 Dividend of JP¥51.50 is 2.0% higher than last year. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 19% over the next 3 years. However, it would need to fall by 30% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jul 01
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥257 (up from JP¥158 in FY 2024). Revenue: JP¥193.4b (up 4.7% from FY 2024). Net income: JP¥20.1b (up 61% from FY 2024). Profit margin: 10% (up from 6.8% in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.4%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Infrastructure industry in Asia. 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 14% per year, which means it is well ahead of earnings. Announcement • Jun 07
The Sumitomo Warehouse Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 The Sumitomo Warehouse Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 Major Estimate Revision • Jun 03
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from JP¥167 to JP¥194. Revenue forecast steady at JP¥196.6b. Net income forecast to shrink 26% next year vs 10% growth forecast for Infrastructure industry in Japan . Consensus price target up from JP¥2,875 to JP¥3,025. Share price was steady at JP¥2,965 over the past week. Reported Earnings • May 10
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥257 (up from JP¥158 in FY 2024). Revenue: JP¥193.4b (up 4.7% from FY 2024). Net income: JP¥20.1b (up 61% from FY 2024). Profit margin: 10% (up from 6.8% in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.4%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Infrastructure industry in Asia. 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 13% per year, which means it is well ahead of earnings. Announcement • May 10
The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces an Equity Buyback for 1,200,000 shares, representing 1.55% for ¥3,500 million. The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces a share repurchase program. Under the program, the company will repurchase up to 1,200,000 shares, representing 0.96% of its issued share capital, for ¥3,500 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The repurchased shares will be retired. The authority shall expire on November 28, 2025. As of April 30, 2025, the company had 77,313,318 shares outstanding and 433,997 treasury shares. Announcement • May 09
The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 26, 2025 The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 26, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥52.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.8%). Announcement • Mar 12
The Sumitomo Warehouse Co., Ltd. to Report Fiscal Year 2025 Results on May 09, 2025 The Sumitomo Warehouse Co., Ltd. announced that they will report fiscal year 2025 results on May 09, 2025 Price Target Changed • Feb 20
Price target increased by 7.5% to JP¥2,850 Up from JP¥2,650, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,722. Stock is up 5.1% over the past year. The company is forecast to post earnings per share of JP¥247 for next year compared to JP¥158 last year. Major Estimate Revision • Feb 13
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥161 to JP¥189. Revenue forecast steady at JP¥190.5b. Net income forecast to grow 4.4% next year vs 11% growth forecast for Infrastructure industry in Japan. Consensus price target up from JP¥2,650 to JP¥2,775. Share price was steady at JP¥2,810 over the past week. Price Target Changed • Feb 12
Price target increased by 7.2% to JP¥2,775 Up from JP¥2,588, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥2,766. Stock is up 8.4% over the past year. The company is forecast to post earnings per share of JP¥189 for next year compared to JP¥158 last year. Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥52.90 (vs JP¥47.31 in 3Q 2024) Third quarter 2025 results: EPS: JP¥52.90 (up from JP¥47.31 in 3Q 2024). Revenue: JP¥48.5b (up 2.7% from 3Q 2024). Net income: JP¥4.12b (up 11% from 3Q 2024). Profit margin: 8.5% (up from 7.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Dec 18
The Sumitomo Warehouse Co., Ltd. to Report Q3, 2025 Results on Feb 05, 2025 The Sumitomo Warehouse Co., Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Declared Dividend • Dec 03
First half dividend of JP¥50.50 announced Shareholders will receive a dividend of JP¥50.50. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥24.12 (vs JP¥24.86 in 2Q 2024) Second quarter 2025 results: EPS: JP¥24.12 (down from JP¥24.86 in 2Q 2024). Revenue: JP¥48.9b (up 4.3% from 2Q 2024). Net income: JP¥1.88b (down 4.4% from 2Q 2024). Profit margin: 3.9% (down from 4.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Nov 07
The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces an Equity Buyback for 750,000 shares, representing 0.96% for ¥2,500 million. The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces a share repurchase program. Under the program, the company will repurchase up to 750,000 shares, representing 0.96% of its issued share capital, for ¥2,500 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The repurchased shares will be retired. The authority shall expire on March 24, 2025. As of October 31, 2024, the company had 78,044,063 shares outstanding and 1,203,252 treasury shares. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥50.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.7%). Announcement • Sep 06
The Sumitomo Warehouse Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 The Sumitomo Warehouse Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥41.66 (vs JP¥44.31 in 1Q 2024) First quarter 2025 results: EPS: JP¥41.66 (down from JP¥44.31 in 1Q 2024). Revenue: JP¥46.4b (flat on 1Q 2024). Net income: JP¥3.27b (down 7.0% from 1Q 2024). Profit margin: 7.1% (down from 7.5% in 1Q 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Declared Dividend • Jul 11
Final dividend of JP¥50.50 announced Shareholders will receive a dividend of JP¥50.50. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 15
The Sumitomo Warehouse Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 The Sumitomo Warehouse Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • May 12
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥158 (down from JP¥281 in FY 2023). Revenue: JP¥184.7b (down 18% from FY 2023). Net income: JP¥12.5b (down 44% from FY 2023). Profit margin: 6.8% (down from 10.0% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 3.0%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 27, 2024 The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 27, 2024. Announcement • May 11
The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces an Equity Buyback for 750,000 shares, representing 0.95% for ¥2,000 million. The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces a share repurchase program. Under the program, the company will repurchase up to 750,000 shares, representing 0.95% of its share capital (excluding treasury shares), for ¥2,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until September 20, 2024. As of April 30, 2024, the company had 78,756,815 shares outstanding (excluding treasury shares) and 490,500 shares in treasury. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥50.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Announcement • Mar 05
The Sumitomo Warehouse Co., Ltd. to Report Fiscal Year 2024 Results on May 10, 2024 The Sumitomo Warehouse Co., Ltd. announced that they will report fiscal year 2024 results on May 10, 2024 Price Target Changed • Feb 10
Price target increased by 11% to JP¥2,550 Up from JP¥2,300, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,567. Stock is up 25% over the past year. The company is forecast to post earnings per share of JP¥155 for next year compared to JP¥281 last year. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥47.31 (vs JP¥54.56 in 3Q 2023) Third quarter 2024 results: EPS: JP¥47.31 (down from JP¥54.56 in 3Q 2023). Revenue: JP¥47.2b (down 13% from 3Q 2023). Net income: JP¥3.73b (down 14% from 3Q 2023). Profit margin: 7.9% (down from 8.0% in 3Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 22% per year. Announcement • Dec 21
The Sumitomo Warehouse Co., Ltd. to Report Q3, 2024 Results on Feb 07, 2024 The Sumitomo Warehouse Co., Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥24.86 (vs JP¥38.14 in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.86 (down from JP¥38.14 in 2Q 2023). Revenue: JP¥46.9b (down 14% from 2Q 2023). Net income: JP¥1.97b (down 36% from 2Q 2023). Profit margin: 4.2% (down from 5.6% in 2Q 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Infrastructure industry in Asia. 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 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥50.50 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 56% 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 (2.1%). Announcement • Sep 07
The Sumitomo Warehouse Co., Ltd. to Report Q2, 2024 Results on Nov 09, 2023 The Sumitomo Warehouse Co., Ltd. announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Aug 09
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: 7.1% Last year net profit margin: 11% 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 are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.1% net profit margin). Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥44.31 (vs JP¥146 in 1Q 2023) First quarter 2024 results: EPS: JP¥44.31 (down from JP¥146 in 1Q 2023). Revenue: JP¥46.7b (down 33% from 1Q 2023). Net income: JP¥3.52b (down 70% from 1Q 2023). Profit margin: 7.5% (down from 17% in 1Q 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces an Equity Buyback for 750,000 shares, representing 0.94% for ¥2,000 million. The Sumitomo Warehouse Co., Ltd. (TSE:9303) announces a share repurchase program. Under the program, the company will repurchase up to 750,000 shares, representing 0.94% of its issued share capital, for ¥2,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The shares repurchased will be cancelled The repurchase program will expire on December 22, 2023. As of July 31, 2023, the company had 79,427,852 shares in issue (excluding treasury stock) and 569,463 shares in treasury. Announcement • Jun 07
The Sumitomo Warehouse Co., Ltd. to Report Q1, 2024 Results on Aug 04, 2023 The Sumitomo Warehouse Co., Ltd. announced that they will report Q1, 2024 results on Aug 04, 2023 Reported Earnings • May 17
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥281 (up from JP¥243 in FY 2022). Revenue: JP¥223.9b (down 3.2% from FY 2022). Net income: JP¥22.5b (up 14% from FY 2022). Profit margin: 10.0% (up from 8.5% in FY 2022). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Revenue is expected to decline by 6.3% p.a. on average during the next 2 years, while revenues in the Infrastructure industry in Japan are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 13
The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 29, 2023 The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥50.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.4%). Price Target Changed • Mar 14
Price target increased by 8.3% to JP¥2,275 Up from JP¥2,100, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥2,225. Stock is down 4.8% over the past year. The company is forecast to post earnings per share of JP¥288 for next year compared to JP¥243 last year. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥54.56 (vs JP¥87.31 in 3Q 2022) Third quarter 2023 results: EPS: JP¥54.56 (down from JP¥87.31 in 3Q 2022). Revenue: JP¥54.3b (down 11% from 3Q 2022). Net income: JP¥4.34b (down 39% from 3Q 2022). Profit margin: 8.0% (down from 12% in 3Q 2022). Revenue is expected to decline by 8.2% p.a. on average during the next 3 years, while revenues in the Infrastructure industry in Japan are expected to grow by 10.0%. 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 12% per year, which means it is significantly lagging earnings growth. Announcement • Dec 15
The Sumitomo Warehouse Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 The Sumitomo Warehouse Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Price Target Changed • Nov 25
Price target increased to JP¥2,100 Up from JP¥1,938, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥2,055. Stock is up 6.9% over the past year. The company is forecast to post earnings per share of JP¥275 for next year compared to JP¥243 last year. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥38.14 (vs JP¥48.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥38.14 (down from JP¥48.67 in 2Q 2022). Revenue: JP¥54.2b (flat on 2Q 2022). Net income: JP¥3.06b (down 23% from 2Q 2022). Profit margin: 5.6% (down from 7.2% in 2Q 2022). Revenue is expected to decline by 7.8% p.a. on average during the next 3 years, while revenues in the Infrastructure industry in Japan are expected to grow by 9.7%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 7 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: 7 new directors. 3 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Senior Managing Executive Officer & Representative Director Hiroshi Majima is the most experienced director on the board, commencing their role in 2013. Independent Outside Director Mari Iga 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. Lack of experienced directors. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥38.14 (vs JP¥48.67 in 2Q 2022) Second quarter 2023 results: EPS: JP¥38.14 (down from JP¥48.67 in 2Q 2022). Revenue: JP¥54.2b (flat on 2Q 2022). Net income: JP¥3.06b (down 23% from 2Q 2022). Profit margin: 5.6% (down from 7.2% in 2Q 2022). Revenue is expected to decline by 7.8% p.a. on average during the next 3 years, while revenues in the Infrastructure industry in Japan are expected to grow by 9.7%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥50.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.0%). Announcement • Sep 15
The Sumitomo Warehouse Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022 The Sumitomo Warehouse Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥146 (vs JP¥45.61 in 1Q 2022) First quarter 2023 results: EPS: JP¥146 (up from JP¥45.61 in 1Q 2022). Revenue: JP¥69.3b (up 36% from 1Q 2022). Net income: JP¥11.7b (up 214% from 1Q 2022). Profit margin: 17% (up from 7.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 17% compared to a 56% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Swire Shipping Limited completed the acquisition of Westwood Shipping Lines, Inc. from The Sumitomo Warehouse Co., Ltd. (TSE:9303). Swire Shipping Limited signed a definitive agreement to acquire Westwood Shipping Lines, Inc. from The Sumitomo Warehouse Co., Ltd. (TSE:9303) on April 28, 2022. In related transaction SW Maritime vessels owned by The Sumitomo Warehouse Co., Ltd. are also transferred to swire shipping limited Jeremy Sutton, Chief Operating Officer, Swire Shipping, said after the closing of the acquisition, Westwood will continue to provide its current services with its strong team of professionals. Westwood will also retain its name. The sale is pending regulatory approval and the satisfaction of customary closing conditions. The transfer of shares is expected to get Completed by June 2022.
Swire Shipping Limited completed the acquisition of Westwood Shipping Lines, Inc. from The Sumitomo Warehouse Co., Ltd. (TSE:9303) on June 30, 2022. Price Target Changed • Jun 14
Price target decreased to JP¥1,917 Down from JP¥2,117, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥2,004. Stock is up 33% over the past year. The company is forecast to post earnings per share of JP¥226 for next year compared to JP¥243 last year. Announcement • Jun 10
The Sumitomo Warehouse Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 The Sumitomo Warehouse Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 16
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥243 (up from JP¥102 in FY 2021). Revenue: JP¥231.5b (up 21% from FY 2021). Net income: JP¥19.7b (up 133% from FY 2021). Profit margin: 8.5% (up from 4.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is expected to shrink by 9.9% compared to a 56% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • May 15
The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 29, 2022 The Sumitomo Warehouse Co., Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
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, 1 was an independent director. The company's board is composed of: 5 new directors. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). Senior Managing Executive Officer & Representative Director Hiroshi Majima is the most experienced director on the board, commencing their role in 2013. Independent Outside Director Hideaki Kawai was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 05
The Sumitomo Warehouse Co., Ltd. to Report Fiscal Year 2022 Results on May 13, 2022 The Sumitomo Warehouse Co., Ltd. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥54.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (3.0%). Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: JP¥87.30 (up from JP¥37.70 in 3Q 2021). Revenue: JP¥61.1b (up 25% from 3Q 2021). Net income: JP¥7.06b (up 125% from 3Q 2021). Profit margin: 12% (up from 6.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 6.5%. Over the next year, revenue is expected to shrink by 1.2% compared to a 42% growth forecast for the industry in Japan. 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 13% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 08
Consensus EPS estimates increase by 27% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥214.6b to JP¥223.0b. EPS estimate increased from JP¥182 to JP¥231 per share. Net income forecast to grow 23% next year vs 12% growth forecast for Infrastructure industry in Japan. Consensus price target of JP¥1,983 unchanged from last update. Share price was steady at JP¥2,053 over the past week. Price Target Changed • Jan 11
Price target increased to JP¥1,983 Up from JP¥1,838, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of JP¥1,911. Stock is up 43% over the past year. The company is forecast to post earnings per share of JP¥182 for next year compared to JP¥102 last year. Major Estimate Revision • Dec 08
Consensus EPS estimates increase to JP¥182 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from JP¥209.3b to JP¥214.6b. EPS estimate increased from JP¥157 to JP¥182 per share. Net income forecast to grow 7.7% next year vs 14% growth forecast for Infrastructure industry in Japan. Consensus price target of JP¥1,888 unchanged from last update. Share price rose 3.1% to JP¥1,933 over the past week. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥48.67 (vs JP¥12.47 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥54.7b (up 20% from 2Q 2021). Net income: JP¥3.96b (up 280% from 2Q 2021). Profit margin: 7.2% (up from 2.3% 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 20% per year but the company’s share price has only increased by 10% 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 2021. Payment date: 01 December 2021. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (2.6%). Price Target Changed • Sep 17
Price target increased to JP¥1,838 Up from JP¥1,698, the current price target is an average from 4 analysts. New target price is 9.2% below last closing price of JP¥2,023. Stock is up 46% over the past year.