Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥966, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Chemicals industry in Japan. Total returns to shareholders of 50% over the past three years. Tillkännagivande • Jun 11
Mipox Corporation to Report Q1, 2027 Results on Aug 07, 2026 Mipox Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • May 18
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥36.17 (down from JP¥63.98 in FY 2025). Revenue: JP¥12.1b (up 7.9% from FY 2025). Net income: JP¥505.0m (down 45% from FY 2025). Profit margin: 4.2% (down from 8.2% in FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥1,061, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Chemicals industry in Japan. Total returns to shareholders of 80% over the past three years. Tillkännagivande • May 14
Mipox Corporation, Annual General Meeting, Jun 23, 2026 Mipox Corporation, Annual General Meeting, Jun 23, 2026. Tillkännagivande • Apr 22
Mipox Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Mipox Corporation announced that they will report fiscal year 2026 results on May 14, 2026 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥1,272, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 135% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥941, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 65% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 25 June 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥954, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Chemicals industry in Japan. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to JP¥867, the stock trades at a trailing P/E ratio of 22.2x. Average forward P/E is 15x in the Chemicals industry in Japan. Total returns to shareholders of 47% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥11.98 (vs JP¥24.09 in 3Q 2025) Third quarter 2026 results: EPS: JP¥11.98 (down from JP¥24.09 in 3Q 2025). Revenue: JP¥3.17b (up 19% from 3Q 2025). Net income: JP¥166.0m (down 52% from 3Q 2025). Profit margin: 5.2% (down from 13% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Jan 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.9% average weekly change). Earnings have declined by 6.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (JP¥8.39b market cap, or US$55.0m). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to JP¥606, the stock trades at a trailing P/E ratio of 11.7x. Average forward P/E is 14x in the Chemicals industry in Japan. Total loss to shareholders of 13% over the past three years. New Risk • Nov 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.1% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.1% operating cash flow to total debt). Earnings have declined by 6.7% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (JP¥6.20b market cap, or US$39.6m). Declared Dividend • Nov 17
Dividend of JP¥10.00 announced Dividend of JP¥10.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 25th June 2026 Dividend yield will be 2.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 2.9% 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 decline by 66% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.1% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥453, the stock trades at a trailing P/E ratio of 13.6x. Average forward P/E is 12x in the Chemicals industry in Japan. Total loss to shareholders of 29% over the past three years. Reported Earnings • Aug 10
First quarter 2026 earnings released: JP¥2.54 loss per share (vs JP¥28.44 profit in 1Q 2025) First quarter 2026 results: JP¥2.54 loss per share (down from JP¥28.44 profit in 1Q 2025). Revenue: JP¥2.69b (up 5.0% from 1Q 2025). Net loss: JP¥36.0m (down 109% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Tillkännagivande • May 31
Mipox Corporation to Report Q1, 2026 Results on Aug 08, 2025 Mipox Corporation announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 21
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥63.98 (up from JP¥28.65 loss in FY 2024). Revenue: JP¥11.2b (up 19% from FY 2024). Net income: JP¥911.0m (up JP¥1.32b from FY 2024). Profit margin: 8.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the last 3 years on average, earnings per share has fallen by 46% 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. Tillkännagivande • May 16
Mipox Corporation (TSE:5381) announces an Equity Buyback for 500,000 shares, representing 3.47% for ¥200 million. Mipox Corporation (TSE:5381) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares, representing 0.35% of its outstanding shares for a total of ¥200 million. The purpose of the program is to improve capital efficiency and enhance shareholder returns. The program will expire on July 31, 2025. As of March 31, 2025, the company had 14,422,368 shares outstanding and 29,552 shares in treasury.
On May 16, 2025, the company corrected ratio of the number of shares to be repurchased to total number of issued shares (excluding treasury stock from 0.35% to 3.47%. Tillkännagivande • May 15
Mipox Corporation, Annual General Meeting, Jun 24, 2025 Mipox Corporation, Annual General Meeting, Jun 24, 2025. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥533, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Chemicals industry in Japan. Total loss to shareholders of 40% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥24.09 (vs JP¥3.37 in 3Q 2024) Third quarter 2025 results: EPS: JP¥24.09 (up from JP¥3.37 in 3Q 2024). Revenue: JP¥2.67b (up 15% from 3Q 2024). Net income: JP¥343.0m (up JP¥295.0m from 3Q 2024). Profit margin: 13% (up from 2.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥826, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Chemicals industry in Japan. Total returns to shareholders of 3.2% over the past three years. Tillkännagivande • Jan 09
Mipox Corporation to Report Fiscal Year 2025 Results on May 15, 2025 Mipox Corporation announced that they will report fiscal year 2025 results at 3:00 PM, Tokyo Standard Time on May 15, 2025 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥722, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Chemicals industry in Japan. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥608, the stock trades at a trailing P/E ratio of 50.3x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to JP¥533, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total loss to shareholders of 34% over the past three years. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: JP¥28.44 (vs JP¥12.29 loss in 1Q 2024) First quarter 2025 results: EPS: JP¥28.44 (up from JP¥12.29 loss in 1Q 2024). Revenue: JP¥2.57b (up 37% from 1Q 2024). Net income: JP¥405.0m (up JP¥580.0m from 1Q 2024). Profit margin: 16% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.3% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (JP¥4.39b market cap, or US$30.8m). Tillkännagivande • Jun 02
Mipox Corporation to Report Q1, 2025 Results on Aug 09, 2024 Mipox Corporation announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 21
Full year 2024 earnings released: JP¥28.65 loss per share (vs JP¥3.16 profit in FY 2023) Full year 2024 results: JP¥28.65 loss per share (down from JP¥3.16 profit in FY 2023). Revenue: JP¥9.35b (down 6.7% from FY 2023). Net loss: JP¥408.0m (down JP¥453.0m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 17
Mipox Corporation, Annual General Meeting, Jun 25, 2024 Mipox Corporation, Annual General Meeting, Jun 25, 2024. Tillkännagivande • Mar 02
Mipox Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Mipox Corporation announced that they will report fiscal year 2024 results on May 15, 2024 New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.2% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (JP¥6.81b market cap, or US$45.4m). Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: JP¥3.37 (vs JP¥28.23 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥3.37 (up from JP¥28.23 loss in 3Q 2023). Revenue: JP¥2.32b (up 1.5% from 3Q 2023). Net income: JP¥48.0m (up JP¥450.0m from 3Q 2023). Profit margin: 2.1% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 46% 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. Reported Earnings • Nov 16
Second quarter 2024 earnings released: JP¥15.52 loss per share (vs JP¥20.72 profit in 2Q 2023) Second quarter 2024 results: JP¥15.52 loss per share (down from JP¥20.72 profit in 2Q 2023). Revenue: JP¥2.46b (down 7.0% from 2Q 2023). Net loss: JP¥221.0m (down 175% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Aug 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (JP¥8.32b market cap, or US$57.4m). Reported Earnings • Aug 12
First quarter 2024 earnings released: JP¥12.29 loss per share (vs JP¥20.58 profit in 1Q 2023) First quarter 2024 results: JP¥12.29 loss per share (down from JP¥20.58 profit in 1Q 2023). Revenue: JP¥1.87b (down 34% from 1Q 2023). Net loss: JP¥175.0m (down 160% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. Tillkännagivande • Jun 01
Mipox Corporation to Report Q1, 2024 Results on Aug 10, 2023 Mipox Corporation announced that they will report Q1, 2024 results on Aug 10, 2023 Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥597, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 11x in the Chemicals industry in Japan. Total returns to shareholders of 162% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 15
Third quarter 2023 earnings released: JP¥28.23 loss per share (vs JP¥36.85 profit in 3Q 2022) Third quarter 2023 results: JP¥28.23 loss per share (down from JP¥36.85 profit in 3Q 2022). Revenue: JP¥2.28b (down 19% from 3Q 2022). Net loss: JP¥402.0m (down 190% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥591, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 11x in the Chemicals industry in Japan. Total returns to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥693, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥764, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 97% over the past three years. Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: JP¥20.72 (vs JP¥23.93 in 2Q 2022) Second quarter 2023 results: EPS: JP¥20.72. Revenue: JP¥2.64b (up 7.2% from 2Q 2022). Net income: JP¥295.0m (up 3.9% from 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Japan. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Outside External Director Masakazu Nagai was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥602, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 41% over the past three years. Reported Earnings • Aug 15
First quarter 2023 earnings released: EPS: JP¥20.58 (vs JP¥31.00 in 1Q 2022) First quarter 2023 results: EPS: JP¥20.58 (down from JP¥31.00 in 1Q 2022). Revenue: JP¥2.83b (up 9.2% from 1Q 2022). Net income: JP¥293.0m (down 20% from 1Q 2022). Profit margin: 10% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.6%, compared to a 8.5% growth forecast for the Chemicals industry in Japan. Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥669, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 122% over the past three years. Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥125 (vs JP¥7.34 in FY 2021) Full year 2022 results: EPS: JP¥125 (up from JP¥7.34 in FY 2021). Revenue: JP¥10.4b (up 42% from FY 2021). Net income: JP¥1.55b (up JP¥1.46b from FY 2021). Profit margin: 15% (up from 1.2% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 18
Mipox Corporation, Annual General Meeting, Jun 28, 2022 Mipox Corporation, Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Outside External Director Masakazu Nagai was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 10
Mipox Corporation to Report Fiscal Year 2022 Results on May 13, 2022 Mipox Corporation announced that they will report fiscal year 2022 results on May 13, 2022 Buying Opportunity • Mar 22
Now 21% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be JP¥1,395, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% per annum over the last 3 years. The company has become profitable over the last 3 years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 19% share price decline to JP¥798, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 163% over the past three years. Reported Earnings • Feb 14
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥36.85 (up from JP¥6.32 loss in 3Q 2021). Revenue: JP¥2.81b (up 60% from 3Q 2021). Net income: JP¥449.0m (up JP¥524.0m from 3Q 2021). Profit margin: 16% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jan 28
Mipox Corporation to Report Q3, 2022 Results on Feb 10, 2022 Mipox Corporation announced that they will report Q3, 2022 results on Feb 10, 2022 Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS JP¥23.93 (vs JP¥6.66 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥2.47b (up 36% from 2Q 2021). Net income: JP¥284.0m (up 260% from 2Q 2021). Profit margin: 12% (up from 4.3% 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 82% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,180, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 178% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,232, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 146% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 17% share price gain to JP¥1,051, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 13x in the Chemicals industry in Japan. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 18% share price gain to JP¥902, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 67% over the past three years. Reported Earnings • May 18
Full year 2021 earnings released: EPS JP¥7.34 (vs JP¥6.61 loss in FY 2020) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: JP¥7.36b (flat on FY 2020). Net income: JP¥87.0m (up JP¥165.0m from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Feb 14
Third quarter 2021 earnings released: JP¥6.32 loss per share (vs JP¥5.00 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: JP¥1.76b (down 9.8% from 3Q 2020). Net loss: JP¥75.0m (loss widened 27% from 3Q 2020). 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 11% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 03
New 90-day high: JP¥525 The company is up 59% from its price of JP¥331 on 05 November 2020. The Japanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 19% over the same period. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improved over the past week After last week's 25% share price gain to JP¥473, the stock is trading at a trailing P/E ratio of 71.7x, up from the previous P/E ratio of 57.3x. This compares to an average P/E of 17x in the Chemicals industry in Japan. Total return to shareholders over the past three years is a loss of 36%.