Announcement • Jun 12
Nippon Gas Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Nippon Gas Co., Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Announcement • May 15
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 1,500,000 shares, representing 1.41% for ¥3,000 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 1.41% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The purpose of the program is to increase ROE. The program will continue through March 31, 2027. As of April 30, 2026, the company had 106,506,178 issued shares (excluding treasury stock) and 6,321,020 treasury shares. Reported Earnings • May 01
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: JP¥137 (up from JP¥104 in FY 2025). Revenue: JP¥208.5b (up 4.2% from FY 2025). Net income: JP¥14.8b (up 28% from FY 2025). Profit margin: 7.1% (up from 5.8% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Japan are expected to remain flat. 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 13% per year. Announcement • Apr 30
Nippon Gas Co., Ltd., Annual General Meeting, Jun 25, 2026 Nippon Gas Co., Ltd., Annual General Meeting, Jun 25, 2026. Price Target Changed • Apr 30
Price target increased by 7.2% to JP¥3,470 Up from JP¥3,237, the current price target is an average from 3 analysts. New target price is 30% above last closing price of JP¥2,676. Stock is up 3.4% over the past year. The company is forecast to post earnings per share of JP¥137 for next year compared to JP¥104 last year. Announcement • Apr 15
Nippon Gas Co., Ltd. to Report Fiscal Year 2026 Results on Apr 30, 2026 Nippon Gas Co., Ltd. announced that they will report fiscal year 2026 results on Apr 30, 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: 26 June 2026. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.8%). Buy Or Sell Opportunity • Mar 08
Now 20% undervalued Over the last 90 days, the stock has risen 1.9% to JP¥3,055. The fair value is estimated to be JP¥3,824, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.8%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Buy Or Sell Opportunity • Feb 20
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at JP¥3,032. The fair value is estimated to be JP¥3,830, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.8%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 6.5% per annum over the same time period. New Risk • Feb 05
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Feb 05
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: JP¥38.62 (down from JP¥38.85 in 3Q 2025). Revenue: JP¥53.8b (up 3.7% from 3Q 2025). Net income: JP¥4.19b (down 2.4% from 3Q 2025). Profit margin: 7.8% (down from 8.3% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 2.4%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Gas Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 15
Now 20% undervalued Over the last 90 days, the stock has risen 9.4% to JP¥3,001. The fair value is estimated to be JP¥3,760, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.2%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Buy Or Sell Opportunity • Dec 19
Now 20% undervalued Over the last 90 days, the stock has risen 5.4% to JP¥2,996. The fair value is estimated to be JP¥3,749, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 8.2%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Announcement • Dec 05
Nippon Gas Co., Ltd. to Report Q3, 2026 Results on Feb 03, 2026 Nippon Gas Co., Ltd. announced that they will report Q3, 2026 results on Feb 03, 2026 Declared Dividend • Nov 20
First half dividend of JP¥51.50 announced Shareholders will receive a dividend of JP¥51.50. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 3.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 30
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥7.41 (up from JP¥1.41 in 2Q 2025). Revenue: JP¥42.3b (up 2.1% from 2Q 2025). Net income: JP¥808.0m (up 418% from 2Q 2025). Profit margin: 1.9% (up from 0.4% in 2Q 2025). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Gas Utilities industry in Asia. 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 11% per year. Announcement • Oct 28
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 4,000,000 shares, representing 3.68% for ¥9,000 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 3.68% of its issued share capital (excluding treasury stock), for a total purchase price of ¥9,000 million. The purpose of the program is to optimize capital-to-asset ratio and to reduce shareholder’s equity. The program will continue through March 31, 2026. As of September 30, 2025, the company had 108,741,184 issued shares (excluding treasury stock) and 4,086,014 treasury shares. 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: 19 November 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.2%). Buy Or Sell Opportunity • Sep 19
Now 20% undervalued Over the last 90 days, the stock has risen 7.0% to JP¥2,838. The fair value is estimated to be JP¥3,550, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Announcement • Sep 04
Nippon Gas Co., Ltd. to Report Q2, 2026 Results on Oct 28, 2025 Nippon Gas Co., Ltd. announced that they will report Q2, 2026 results on Oct 28, 2025 Buy Or Sell Opportunity • Aug 29
Now 20% undervalued Over the last 90 days, the stock has risen 9.6% to JP¥2,829. The fair value is estimated to be JP¥3,539, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Price Target Changed • Aug 21
Price target increased by 8.5% to JP¥3,050 Up from JP¥2,810, the current price target is an average from 3 analysts. New target price is 5.0% above last closing price of JP¥2,904. Stock is up 23% over the past year. The company is forecast to post earnings per share of JP¥138 for next year compared to JP¥104 last year. Reported Earnings • Jul 30
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: JP¥24.12 (up from JP¥13.02 in 1Q 2025). Revenue: JP¥45.9b (up 2.8% from 1Q 2025). Net income: JP¥2.63b (up 81% from 1Q 2025). Profit margin: 5.7% (up from 3.3% in 1Q 2025). Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Declared Dividend • Jul 09
Final dividend of JP¥51.50 announced Shareholders will receive a dividend of JP¥51.50. Ex-date: 29th September 2025 Payment date: 19th November 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 28% 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 5.1% to bring the payout ratio under control. EPS is expected to grow by 31% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Jun 24
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥104 (up from JP¥95.63 in FY 2024). Revenue: JP¥200.1b (up 2.9% from FY 2024). Net income: JP¥11.5b (up 6.7% from FY 2024). Profit margin: 5.8% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jun 18
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 3 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). President, CEO & Representative Director Kunihiko Kashiwaya is the most experienced director on the board, commencing their role in 2013. Outside Independent Directors Tsuyoshi Yamada was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Jun 05
Nippon Gas Co., Ltd. to Report Q1, 2026 Results on Jul 29, 2025 Nippon Gas Co., Ltd. announced that they will report Q1, 2026 results on Jul 29, 2025 Announcement • May 01
Nippon Gas Co., Ltd., Annual General Meeting, Jun 25, 2025 Nippon Gas Co., Ltd., Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥46.25 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.2%). Announcement • Mar 07
Nippon Gas Co., Ltd. (TSE:8174) acquired Kadokura Co., Ltd. Nippon Gas Co., Ltd. (TSE:8174) acquired Kadokura Co., Ltd. on March 6, 2025.
For the period ending August 31, 2024, Kadokura Co., Ltd. reported total revenue of ¥690 million.
Nippon Gas Co., Ltd. (TSE:8174) Completed the acquisition of Kadokura Co., Ltd. on March 6, 2025. Announcement • Mar 07
Nippon Gas Co., Ltd. to Report Fiscal Year 2025 Results on May 01, 2025 Nippon Gas Co., Ltd. announced that they will report fiscal year 2025 results on May 01, 2025 Reported Earnings • Jan 29
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: JP¥38.85 (up from JP¥27.55 in 3Q 2024). Revenue: JP¥51.9b (up 8.4% from 3Q 2024). Net income: JP¥4.29b (up 38% from 3Q 2024). Profit margin: 8.3% (up from 6.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Japan are expected to remain flat. 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 28
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 1,700,000 shares, representing 1.54% for ¥3,000 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 1,700,000 shares, representing 1.54% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The purpose of the program is increasing the return on assets while growing profits and achieve a capital policy that is supported by the shareholders. The program will continue through April 30, 2025. As of end of December 2024, the company had 110,372,266 issued shares (excluding treasury stock) and 2,454,932 treasury shares. Announcement • Jan 06
Nippon Gas Co., Ltd. Announces Passing Away of Shinji Wada, Director of the Board and Executive Officer of the Company Nippon Gas Co., Ltd. announced Shinji Wada passed away on 29 December 2024, and retired from the position of Director of the Board and Executive Officer of the company on the same day. Date of birth:3 April 1952. Date of death (resignation):29 December 2024. Work history: June 2005- President and Representative Director, May 2022 -Chairperson and Director. Announcement • Dec 04
Nippon Gas Co., Ltd. to Report Q3, 2025 Results on Jan 28, 2025 Nippon Gas Co., Ltd. announced that they will report Q3, 2025 results on Jan 28, 2025 Declared Dividend • Nov 20
First half dividend of JP¥46.25 announced Shareholders will receive a dividend of JP¥46.25. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio). However, it is covered by cash flows (73% cash payout ratio). The dividend has increased by an average of 27% 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 14% to bring the payout ratio under control. EPS is expected to grow by 41% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Oct 31
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥1.41 (down from JP¥6.13 in 2Q 2024). Revenue: JP¥41.4b (up 4.4% from 2Q 2024). Net income: JP¥156.0m (down 78% from 2Q 2024). Profit margin: 0.4% (down from 1.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 49%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Gas Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 29
Nippon Gas Co., Ltd. Announces End of Second Quarter Dividend for the Six Months Ended September 30, 2024, Payable on November 19, 2024 Nippon Gas Co., Ltd. announced end of second quarter dividend of JPY 46.25 per share for the six months ended September 30, 2024 against JPY 37.50 per share a year ago. Scheduled date of commencing dividend payments: November 19th, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥46.25 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 18 November 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.5%). Announcement • Sep 03
Nippon Gas Co., Ltd. to Report Q2, 2025 Results on Oct 29, 2024 Nippon Gas Co., Ltd. announced that they will report Q2, 2025 results on Oct 29, 2024 Price Target Changed • Aug 19
Price target decreased by 11% to JP¥2,838 Down from JP¥3,190, the current price target is an average from 4 analysts. New target price is 23% above last closing price of JP¥2,314. Stock is up 4.9% over the past year. The company is forecast to post earnings per share of JP¥126 for next year compared to JP¥95.63 last year. Reported Earnings • Aug 01
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: JP¥13.02 (down from JP¥25.24 in 1Q 2024). Revenue: JP¥44.6b (down 5.4% from 1Q 2024). Net income: JP¥1.45b (down 49% from 1Q 2024). Profit margin: 3.3% (down from 6.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 48%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Gas Utilities 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 12% per year. Declared Dividend • Jul 11
Final dividend of JP¥46.25 announced Shareholders will receive a dividend of JP¥46.25. Ex-date: 27th September 2024 Payment date: 18th November 2024 Dividend yield will be 3.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 36% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 1,500,000 shares, representing 1.35% for ¥3,000 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 1.35% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The program will continue through December 31, 2024. As of May 31 ,2024, the company had 111,493,233 issued shares (excluding treasury stock) and 3,823,865 treasury shares. Announcement • May 06
Nippon Gas Co., Ltd. to Report Q1, 2025 Results on Jul 30, 2024 Nippon Gas Co., Ltd. announced that they will report Q1, 2025 results on Jul 30, 2024 Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥95.63 (up from JP¥93.12 in FY 2023). Revenue: JP¥194.4b (down 6.5% from FY 2023). Net income: JP¥10.8b (up 1.9% from FY 2023). Profit margin: 5.6% (up from 5.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 4.4%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Japan are expected to remain flat. 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 9% per year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥37.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.0%). Price Target Changed • Mar 15
Price target increased by 7.3% to JP¥3,163 Up from JP¥2,948, the current price target is an average from 4 analysts. New target price is 28% above last closing price of JP¥2,478. Stock is up 29% over the past year. The company is forecast to post earnings per share of JP¥100 for next year compared to JP¥93.12 last year. Announcement • Feb 12
Nippon Gas Co., Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Nippon Gas Co., Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Reported Earnings • Feb 03
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥27.55 (up from JP¥20.37 in 3Q 2023). Revenue: JP¥47.9b (down 14% from 3Q 2023). Net income: JP¥3.11b (up 34% from 3Q 2023). Profit margin: 6.5% (up from 4.2% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 18%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Gas Utilities industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year and the company’s share price has also increased by 12% per year. Announcement • Feb 02
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 1,800,000 shares, representing 1.59% for ¥3,500 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 1,800,000 shares, representing 2.35% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,500 million. The program will continue through July 31, 2024. As of December 31 ,2023, the company had 112,864,297 issued shares (excluding treasury stock) and 2,452,801 treasury shares. Announcement • Dec 22
Nippon Gas Co., Ltd. to Report Q3, 2024 Results on Feb 01, 2024 Nippon Gas Co., Ltd. announced that they will report Q3, 2024 results on Feb 01, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥6.13 (up from JP¥6.87 loss in 2Q 2023). Revenue: JP¥39.7b (down 1.6% from 2Q 2023). Net income: JP¥696.0m (up JP¥1.48b from 2Q 2023). Profit margin: 1.8% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Gas Utilities industry in Japan. 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 12% per year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥37.50 per share at 3.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 17 November 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.2%). Announcement • Jul 30
Nippon Gas Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Nippon Gas Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Announcement • Jul 28
Nippon Gas Co., Ltd. (TSE:8174) announces an Equity Buyback for 2,000,000 shares, representing 1.76% for ¥3,000 million. Nippon Gas Co., Ltd. (TSE:8174) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 2.35% of its issued share capital (excluding treasury stock), for a total purchase price of ¥3,000 million. The program will continue through October 31, 2023. As of June 30 ,2023, the company had 113,923,343 issued shares (excluding treasury stock) and 1,393,755 treasury shares. Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥25.24 (vs JP¥23.18 in 1Q 2023) First quarter 2024 results: EPS: JP¥25.24 (up from JP¥23.18 in 1Q 2023). Revenue: JP¥47.1b (up 5.2% from 1Q 2023). Net income: JP¥2.87b (up 8.1% from 1Q 2023). Profit margin: 6.1% (up from 5.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Gas Utilities industry in Japan. 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 8% per year. Price Target Changed • May 03
Price target decreased by 10% to JP¥2,447 Down from JP¥2,720, the current price target is an average from 3 analysts. New target price is 27% above last closing price of JP¥1,924. Stock is up 4.9% over the past year. The company is forecast to post earnings per share of JP¥108 for next year compared to JP¥93.12 last year. Reported Earnings • Apr 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: JP¥93.12 (up from JP¥86.23 in FY 2022). Revenue: JP¥207.9b (up 28% from FY 2022). Net income: JP¥10.6b (up 6.6% from FY 2022). Profit margin: 5.1% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) missed analyst estimates by 5.7%. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% decline forecast for the Gas Utilities industry in Japan. 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 12% per year. Buying Opportunity • Apr 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be JP¥2,218, 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 12%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 6.1% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥32.50 per share at 3.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.7%). Announcement • Feb 01
Nippon Gas Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ending March 31, 2023 Nippon Gas Co., Ltd. provided consolidated earnings guidance for the year ending March 31, 2023. For the period, the company expects net sales of ¥190,000 million, Operating income of ¥16,500 million, Profit attributable to owners of parent of ¥11,000 million or ¥96.44 basic per share. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥20.37 (vs JP¥23.56 in 3Q 2022) Third quarter 2023 results: EPS: JP¥20.37 (down from JP¥23.56 in 3Q 2022). Revenue: JP¥55.3b (up 33% from 3Q 2022). Net income: JP¥2.32b (down 14% from 3Q 2022). Profit margin: 4.2% (down from 6.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Japan are expected to remain flat. 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. Price Target Changed • Nov 16
Price target increased to JP¥2,640 Up from JP¥2,365, the current price target is an average from 3 analysts. New target price is 29% above last closing price of JP¥2,052. Stock is up 42% over the past year. The company is forecast to post earnings per share of JP¥104 for next year compared to JP¥86.23 last year.