Buy Or Sell Opportunity • Aug 19
Now 20% undervalued Over the last 90 days, the stock has risen 13% to €12.70. The fair value is estimated to be €15.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are forecast to decline by 3.1% per annum over the same time period. Reported Earnings • Jul 30
First quarter 2027 earnings released: EPS: JP¥66.43 (vs JP¥38.07 in 1Q 2026) First quarter 2027 results: EPS: JP¥66.43 (up from JP¥38.07 in 1Q 2026). Revenue: JP¥109.5b (up 6.2% from 1Q 2026). Net income: JP¥12.7b (up 69% from 1Q 2026). Profit margin: 12% (up from 7.3% in 1Q 2026). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 26
Final dividend of JP¥39.00 announced Shareholders will receive a dividend of JP¥39.00. Ex-date: 29th September 2026 Payment date: 7th December 2026 Dividend yield will be 338%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 17% 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. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Buy Or Sell Opportunity • Jun 26
Now 21% undervalued Over the last 90 days, the stock has risen 33% to €12.90. The fair value is estimated to be €16.24, 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 42%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are forecast to decline by 1.1% per annum over the same time period. Tillkännagivande • Jun 19
Zeon Corporation to Report Q1, 2027 Results on Jul 29, 2026 Zeon Corporation announced that they will report Q1, 2027 results on Jul 29, 2026 New Risk • May 31
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 97% Dividend yield: 3.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Large one-off items impacting financial results. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Member of Audit & Supervisory Board Hiroyuki Hirakawa was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 14
Zeon Corporation, Annual General Meeting, Jun 26, 2026 Zeon Corporation, Annual General Meeting, Jun 26, 2026. Tillkännagivande • May 13
Natoco Co., Ltd. (TSE:4627) signed a letter of intent to acquire Tohpe Corporation from Zeon Corporation (TSE:4205). Natoco Co., Ltd. (TSE:4627) signed a letter of intent to acquire Tohpe Corporation from Zeon Corporation (TSE:4205) on May 11, 2026. A cash consideration of ¥2.19 billion will be paid by Natoco Co., Ltd. As part of consideration, ¥2.19 billion is paid towards common equity of Tohpe Corporation. Natoco Co., Ltd. has resolved to enter into a stock transfer agreement.
The expected completion of the transaction is November 2, 2026. Tillkännagivande • Apr 04
Zeon Corporation to Report Fiscal Year 2026 Results on May 13, 2026 Zeon Corporation announced that they will report fiscal year 2026 results on May 13, 2026 Tillkännagivande • Jan 30
Zeon Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2026 Zeon Corporation revised consolidated earnings guidance for the Fiscal year ending March 31, 2026. For the year, the company expects net sales to be JPY 407,500 million, Operating profit to be JPY 31,000 million, Profit attributable to owners of the parent to be JPY 31,500 million and basic earnings per share to be JPY 162.32 as compared to net sales to be JPY 415,000 million, Operating profit to be JPY 30,500 million, Profit attributable to owners of the parent to be JPY 28,000 million and basic earnings per share to be JPY 144.17 in the previous guidance. While net sales in the Elastomer Business Segment are expected to decrease due to a decline in selling prices resulting from lower raw material prices, net sales and operating profit in the Specialty Material Business Segment are expected to increase, reflecting steady demand for optical films used in large-screen televisions as well as battery materials. In addition, due to the incorporation of the continued depreciation of the yen against the initially assumed exchange rates, ordinary profit and profit attributable to owners of the parent are expected to exceed the previously announced forecast. Accordingly, the forecast has been revised as described above. Tillkännagivande • Dec 16
Zeon Corporation to Report Q3, 2026 Results on Jan 30, 2026 Zeon Corporation announced that they will report Q3, 2026 results on Jan 30, 2026 Tillkännagivande • Sep 17
Zeon Corporation to Report Q2, 2026 Results on Oct 30, 2025 Zeon Corporation announced that they will report Q2, 2026 results on Oct 30, 2025 Tillkännagivande • Jun 06
Zeon Corporation to Report Q1, 2026 Results on Jul 30, 2025 Zeon Corporation announced that they will report Q1, 2026 results on Jul 30, 2025 Tillkännagivande • Mar 04
Zeon Corporation to Report Fiscal Year 2025 Results on Apr 25, 2025 Zeon Corporation announced that they will report fiscal year 2025 results on Apr 25, 2025 Tillkännagivande • Dec 12
Zeon Corporation to Report Q3, 2025 Results on Jan 31, 2025 Zeon Corporation announced that they will report Q3, 2025 results on Jan 31, 2025 New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: JP¥19.62 (vs JP¥21.41 in 2Q 2024) Second quarter 2025 results: EPS: JP¥19.62 (down from JP¥21.41 in 2Q 2024). Revenue: JP¥107.2b (up 15% from 2Q 2024). Net income: JP¥4.11b (down 9.1% from 2Q 2024). Profit margin: 3.8% (down from 4.8% in 2Q 2024). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Germany. 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 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥23.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.0%). Tillkännagivande • Sep 13
Zeon Corporation to Report Q2, 2025 Results on Oct 28, 2024 Zeon Corporation announced that they will report Q2, 2025 results on Oct 28, 2024 New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥38.77 (vs JP¥27.62 in 1Q 2024) First quarter 2025 results: EPS: JP¥38.77 (up from JP¥27.62 in 1Q 2024). Revenue: JP¥106.1b (up 15% from 1Q 2024). Net income: JP¥8.19b (up 40% from 1Q 2024). Profit margin: 7.7% (up from 6.3% in 1Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Jul 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 German stocks, typically moving 7.9% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €9.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Chemicals industry in Germany. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.22 per share. Declared Dividend • Jul 11
Final dividend of JP¥23.00 announced Shareholders will receive a dividend of JP¥23.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 299%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 15
Zeon Corporation to Report Q1, 2025 Results on Jul 29, 2024 Zeon Corporation announced that they will report Q1, 2025 results on Jul 29, 2024 Tillkännagivande • Jun 14
Zeon Corporation (TSE:4205) signed a letter of intent to acquire 40% stake in ZS Elastomers Co., Ltd. from Sumitomo Chemical Company, Limited. Zeon Corporation (TSE:4205) signed a letter of intent to acquire remaining 40% stake in ZS Elastomers Co., Ltd. from Sumitomo Chemical Company, Limited (TSE:4005) on June 12, 2024. Upon completion, Zeon Corporation will own 100% stake in ZS Elastomers Co., Ltd. As of March 31, 2024, ZS Elastomers Co., Ltd. generated total assets of ¥12.4 billion, net assets of ¥1.5 billion, sales of ¥1.4 billion, operating income of ¥411 million and net income of ¥442 million. The expected completion of the transaction is September 30, 2024. Tillkännagivande • Apr 28
Zeon Corporation, Annual General Meeting, Jun 27, 2024 Zeon Corporation, Annual General Meeting, Jun 27, 2024. Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: JP¥147 (vs JP¥49.94 in FY 2023) Full year 2024 results: EPS: JP¥147 (up from JP¥49.94 in FY 2023). Revenue: JP¥382.3b (down 1.6% from FY 2023). Net income: JP¥31.1b (up 194% from FY 2023). Profit margin: 8.1% (up from 2.7% in FY 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 26
Zeon Corporation (TSE:4205) announces an Equity Buyback for 10,000,000 shares, representing 4.73% for ¥10,000 million. Zeon Corporation (TSE:4205) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 4.73% of its issued share capital, for ¥10,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will be valid till March 21, 2025. As of March 31, 2024, the company has 211,315,491 issued shares (excluding treasury stock) and 18,198,165 treasury shares. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.9%). Tillkännagivande • Mar 17
Zeon Corporation to Report Fiscal Year 2024 Results on Apr 25, 2024 Zeon Corporation announced that they will report fiscal year 2024 results on Apr 25, 2024 Reported Earnings • Feb 02
Third quarter 2024 earnings released: EPS: JP¥49.92 (vs JP¥4.09 in 3Q 2023) Third quarter 2024 results: EPS: JP¥49.92 (up from JP¥4.09 in 3Q 2023). Revenue: JP¥98.4b (up 1.6% from 3Q 2023). Net income: JP¥10.5b (up JP¥9.69b from 3Q 2023). Profit margin: 11% (up from 0.9% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Tillkännagivande • Dec 17
Zeon Corporation to Report Q3, 2024 Results on Jan 31, 2024 Zeon Corporation announced that they will report Q3, 2024 results on Jan 31, 2024 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €7.45, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Chemicals industry in Germany. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.37 per share. Buying Opportunity • Oct 31
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €10.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 30% per annum over the same time period. Reported Earnings • Oct 30
Second quarter 2024 earnings released: EPS: JP¥21.41 (vs JP¥41.21 in 2Q 2023) Second quarter 2024 results: EPS: JP¥21.41 (down from JP¥41.21 in 2Q 2023). Revenue: JP¥93.5b (down 6.3% from 2Q 2023). Net income: JP¥4.52b (down 48% from 2Q 2023). Profit margin: 4.8% (down from 8.7% in 2Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Tillkännagivande • Sep 23
Zeon Corporation to Report Q2, 2024 Results on Oct 27, 2023 Zeon Corporation announced that they will report Q2, 2024 results on Oct 27, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥20.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is on the higher end at 99% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.9%). New Risk • Jul 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Jul 28
First quarter 2024 earnings released: EPS: JP¥27.62 (vs JP¥40.99 in 1Q 2023) First quarter 2024 results: EPS: JP¥27.62 (down from JP¥40.99 in 1Q 2023). Revenue: JP¥91.9b (down 5.8% from 1Q 2023). Net income: JP¥5.84b (down 33% from 1Q 2023). Profit margin: 6.3% (down from 8.9% in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Tillkännagivande • Jun 23
Zeon Corporation to Report Q1, 2024 Results on Jul 27, 2023 Zeon Corporation announced that they will report Q1, 2024 results on Jul 27, 2023 Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: JP¥49.94 (vs JP¥153 in FY 2022) Full year 2023 results: EPS: JP¥49.94 (down from JP¥153 in FY 2022). Revenue: JP¥388.6b (up 7.4% from FY 2022). Net income: JP¥10.6b (down 68% from FY 2022). Profit margin: 2.7% (down from 9.2% in FY 2022). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Chemicals industry in Germany. 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 4% per year. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥18.00 per share at 2.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: JP¥4.09 (vs JP¥41.00 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.09 (down from JP¥41.00 in 3Q 2022). Revenue: JP¥96.8b (up 7.9% from 3Q 2022). Net income: JP¥864.0m (down 90% from 3Q 2022). Profit margin: 0.9% (down from 10.0% in 3Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Tillkännagivande • Dec 26
Zeon Corporation to Report Q3, 2023 Results on Jan 31, 2023 Zeon Corporation announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥41.21 (vs JP¥38.14 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.21 (up from JP¥38.14 in 2Q 2022). Revenue: JP¥99.8b (up 8.6% from 2Q 2022). Net income: JP¥8.71b (up 4.4% from 2Q 2022). Profit margin: 8.7% (down from 9.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent External Director Tadanobu Nagumo was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥41.21 (vs JP¥38.14 in 2Q 2022) Second quarter 2023 results: EPS: JP¥41.21 (up from JP¥38.14 in 2Q 2022). Revenue: JP¥99.8b (up 8.6% from 2Q 2022). Net income: JP¥8.71b (up 4.4% from 2Q 2022). Profit margin: 8.7% (down from 9.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Tillkännagivande • Sep 24
Zeon Corporation to Report Q2, 2023 Results on Oct 31, 2022 Zeon Corporation announced that they will report Q2, 2023 results on Oct 31, 2022 Upcoming Dividend • Sep 22
Upcoming dividend of JP¥18.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%). Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: JP¥40.99 (vs JP¥45.95 in 1Q 2022) First quarter 2023 results: EPS: JP¥40.99 (down from JP¥45.95 in 1Q 2022). Revenue: JP¥97.6b (up 12% from 1Q 2022). Net income: JP¥8.71b (down 13% from 1Q 2022). Profit margin: 8.9% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.3%, compared to a 5.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Tillkännagivande • Jun 05
Zeon Corporation to Report Q1, 2023 Results on Jul 28, 2022 Zeon Corporation announced that they will report Q1, 2023 results on Jul 28, 2022 Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: JP¥153 (vs JP¥127 in FY 2021) Full year 2022 results: EPS: JP¥153 (up from JP¥127 in FY 2021). Revenue: JP¥361.7b (up 20% from FY 2021). Net income: JP¥33.4b (up 21% from FY 2021). Profit margin: 9.2% (in line with FY 2021). Over the next year, revenue is forecast to grow 11%, compared to a 10% growth forecast for the industry in Germany. 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 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent External Director Tadanobu Nagumo was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 05
Zeon Corporation to Report Fiscal Year 2022 Results on Apr 27, 2022 Zeon Corporation announced that they will report fiscal year 2022 results on Apr 27, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (4.8%). Tillkännagivande • Feb 05
Zeon Corporation (TSE:4205) entered into an agreement to acquire Edition Eight, LLC. Zeon Corporation (TSE:4205) entered into an agreement to acquire Edition Eight, LLC on February 4, 2022. The acquisition is expected to be completed by February 28, 2022. Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥41.00 (down from JP¥42.35 in 3Q 2021). Revenue: JP¥89.7b (up 14% from 3Q 2021). Net income: JP¥8.97b (down 3.2% from 3Q 2021). Profit margin: 10.0% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 3.0%, compared to a 5.7% growth forecast for the industry in Germany. 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 1% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Dec 29
Zeon Corporation (TSE:4205) announces an Equity Buyback for 10,000,000 shares, representing 4.57% for ¥10,000 million. Zeon Corporation (TSE:4205) announces a share repurchase program. Under the program, the company will repurchase 10,000,000 shares, representing 4.57% of its share capital, for ¥10,000 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency. The program will run until June 23, 2022. As of September 30, 2021, the company had 218,767,436 shares outstanding (excluding treasury shares) and 18,308,120 shares in treasury. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS JP¥38.14 (vs JP¥21.06 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥91.9b (up 35% from 2Q 2021). Net income: JP¥8.34b (up 81% from 2Q 2021). Profit margin: 9.1% (up from 6.8% 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 27% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥45.95 (vs JP¥16.36 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥87.2b (up 25% from 1Q 2021). Net income: JP¥10.1b (up 181% from 1Q 2021). Profit margin: 12% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
Full year 2021 earnings released: EPS JP¥127 (vs JP¥92.44 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥302.0b (down 6.2% from FY 2020). Net income: JP¥27.7b (up 37% from FY 2020). Profit margin: 9.2% (up from 6.3% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming Dividend of JP¥11.00 Per Share Will be paid on the 29th of June to those who are registered shareholders by the 30th of March. The trailing yield of 1.3% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (3.6%). Tillkännagivande • Mar 20
Zeon Corporation to Report Fiscal Year 2021 Results on Apr 28, 2021 Zeon Corporation announced that they will report fiscal year 2021 results on Apr 28, 2021 Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥42.35 (vs JP¥23.42 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥78.9b (flat on 3Q 2020). Net income: JP¥9.26b (up 81% from 3Q 2020). Profit margin: 12% (up from 6.5% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations Revenue exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 7.6%, compared to a 4.9% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Jan 22
New 90-day high: €12.10 The company is up 15% from its price of €10.50 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.38 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €11.50 The company is up 24% from its price of €9.30 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.35 per share. Is New 90 Day High Low • Dec 22
New 90-day high: €11.20 The company is up 19% from its price of €9.40 on 23 September 2020. The German market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.37 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €10.70 The company is up 22% from its price of €8.80 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.09 per share. Reported Earnings • Nov 13
Second quarter 2021 earnings released: EPS JP¥21.06 The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: JP¥67.9b (down 16% from 2Q 2020). Net income: JP¥4.61b (down 16% from 2Q 2020). Profit margin: 6.8% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations Revenue exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 2.7%, compared to a 3.6% growth forecast for the Chemicals industry in Germany. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of JP¥16.8b, up 8.3% from the prior year. Total revenue was JP¥296.0b over the last 12 months, down 11% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Semi-annual earnings released: Revenue beats expectations Semi-annual revenue exceeded analyst estimates by 1.0% at JP¥137.4b. Revenue is forecast to grow 2.8% over the next year, compared to a 2.5% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Oct 13
New 90-day high: €9.75 The company is up 20% from its price of €8.10 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.85 per share. Tillkännagivande • Sep 19
Zeon Corporation to Report Q2, 2021 Results on Oct 30, 2020 Zeon Corporation announced that they will report Q2, 2021 results on Oct 30, 2020 Tillkännagivande • Jun 29
ZEON Corporation to Report Q1, 2021 Results on Jul 31, 2020 ZEON Corporation announced that they will report Q1, 2021 results on Jul 31, 2020