Buy Or Sell Opportunity • 22h
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to JP¥4,990. The fair value is estimated to be JP¥4,156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 32%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 1.4% per annum over the same time period. Tillkännagivande • Jun 19
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2027 Results on Aug 05, 2026 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2027 results on Aug 05, 2026 Reported Earnings • May 09
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: JP¥520 (down from JP¥819 in FY 2025). Revenue: JP¥150.9b (down 12% from FY 2025). Net income: JP¥7.22b (down 38% from FY 2025). Profit margin: 4.8% (down from 6.7% in FY 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.5%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥134 (vs JP¥233 in 3Q 2025) Third quarter 2026 results: EPS: JP¥134 (down from JP¥233 in 3Q 2025). Revenue: JP¥36.1b (down 15% from 3Q 2025). Net income: JP¥1.86b (down 44% from 3Q 2025). Profit margin: 5.1% (down from 7.7% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Tillkännagivande • Dec 27
Nippon Yakin Kogyo Co., Ltd. to Report Q3, 2026 Results on Feb 05, 2026 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q3, 2026 results on Feb 05, 2026 Declared Dividend • Dec 02
First half dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 5.1%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (15% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to JP¥4,115. The fair value is estimated to be JP¥5,221, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 1.0% per annum. Earnings are also forecast to grow by 5.1% per annum over the same time period. Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: JP¥118 (vs JP¥158 in 2Q 2025) Second quarter 2026 results: EPS: JP¥118 (down from JP¥158 in 2Q 2025). Revenue: JP¥36.5b (down 14% from 2Q 2025). Net income: JP¥1.64b (down 26% from 2Q 2025). Profit margin: 4.5% (down from 5.3% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥110 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Tillkännagivande • Sep 19
Nippon Yakin Kogyo Co., Ltd. to Report Q2, 2026 Results on Oct 31, 2025 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q2, 2026 results on Oct 31, 2025 Major Estimate Revision • Aug 15
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥191.0b to JP¥158.7b. EPS estimate fell from JP¥1,192 to JP¥723 per share. Net income forecast to grow 2.7% next year vs 8.8% growth forecast for Metals and Mining industry in Japan. Consensus price target down from JP¥5,600 to JP¥4,700. Share price was steady at JP¥4,260 over the past week. Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: JP¥142 (vs JP¥251 in 1Q 2025) First quarter 2026 results: EPS: JP¥142 (down from JP¥251 in 1Q 2025). Revenue: JP¥39.2b (down 16% from 1Q 2025). Net income: JP¥1.99b (down 45% from 1Q 2025). Profit margin: 5.1% (down from 7.7% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Declared Dividend • Jul 09
Final dividend of JP¥110 announced Shareholders will receive a dividend of JP¥110. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 5.7%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 35% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Jun 26
Nippon Yakin Kogyo Co., Ltd. Appoints Nobuyoshi Okada as an Outside Director Nippon Yakin Kogyo Co., Ltd. announced that it has resolved at a meeting of the Board of Directors to appoint Nobuyoshi Okada, who has been newly elected as an Outside Director who is an Audit & Supervisory Committee Member at the Annual General Meeting of Shareholders, as a member of the Special Committee. Nobuyoshi Okada: Outside Director of the Company (Audit & Supervisory Committee Member) . April 1985 Joined The Long-Term Credit Bank of Japan, Limited (currently SBI Shinsei Bank, Limited). August 2000 Joined The Industrial Bank of Japan, Ltd. (currently Mizuho Bank, Ltd.) October 2004 General Manager of Financial Institution and Public Sector No. 2, Investment Banking Business Group of Mizuho Securities Co., Ltd. April 2006 Deputy General Manager of Nihonbashi Corporate Banking Division of Mizuho Corporate Bank, Ltd. (currently Mizuho Bank, Ltd.) . April 2012 General Manager of Corporate Banking Division No. 14 of Mizuho Corporate Bank, Ltd. (currently Mizuho Bank, Ltd.), Deputy Director General of Mizuho Securities Co., Ltd. April 2014 Deputy Head of Financial Institution and Public Sector Group of Mizuho Securities Co., Ltd. June 2015 Executive Officer, Head of Administration Management Division of Toyo Securities Co., Ltd. June 2016 Director responsible for Information Division and Corporate Planning Department of Toyo Securities Co., Ltd. June 2017 Managing Director responsible for Information Division, Securities Division, and Corporate Planning Department of Toyo Securities Co., Ltd. June 2018 Senior Managing Director responsible for Information Division, Securities Division, and Corporate Planning Department of Toyo Securities Co., Ltd. June 2024 Executive Advisor (Part time) of Toyo Securities Co., Ltd. November 2024 Senior Specialist of Finance and Accounting Department of Japan Pallet Rental. Corporation. June 2025 Outside Director of the Company (present position). Tillkännagivande • Jun 14
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2026 results on Aug 05, 2025 New Risk • May 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% 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 (15% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 09
Full year 2025 earnings released: EPS: JP¥819 (vs JP¥934 in FY 2024) Full year 2025 results: EPS: JP¥819 (down from JP¥934 in FY 2024). Revenue: JP¥172.1b (down 4.6% from FY 2024). Net income: JP¥11.6b (down 15% from FY 2024). Profit margin: 6.7% (down from 7.5% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. 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 23% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 08
Nippon Yakin Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2025 Nippon Yakin Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,440, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 9x in the Metals and Mining industry in Japan. Total returns to shareholders of 54% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.1%). Tillkännagivande • Mar 19
Nippon Yakin Kogyo Co., Ltd. to Report Fiscal Year 2025 Results on May 08, 2025 Nippon Yakin Kogyo Co., Ltd. announced that they will report fiscal year 2025 results on May 08, 2025 Reported Earnings • Feb 06
Third quarter 2025 earnings released: EPS: JP¥233 (vs JP¥123 in 3Q 2024) Third quarter 2025 results: EPS: JP¥233 (up from JP¥123 in 3Q 2024). Revenue: JP¥42.5b (down 3.1% from 3Q 2024). Net income: JP¥3.29b (up 85% from 3Q 2024). Profit margin: 7.7% (up from 4.1% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in Japan. 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. Tillkännagivande • Dec 19
Nippon Yakin Kogyo Co., Ltd. to Report Q3, 2025 Results on Feb 05, 2025 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q3, 2025 results on Feb 05, 2025 Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥158 (vs JP¥301 in 2Q 2024) Second quarter 2025 results: EPS: JP¥158 (down from JP¥301 in 2Q 2024). Revenue: JP¥42.2b (down 6.9% from 2Q 2024). Net income: JP¥2.22b (down 49% from 2Q 2024). Profit margin: 5.3% (down from 9.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (4.3%). Tillkännagivande • Sep 18
Nippon Yakin Kogyo Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to JP¥3,695, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 71% over the past three years. New Risk • Aug 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (68% net debt to equity). 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 (5.5% average weekly change). Profit margins are more than 30% lower than last year (7.0% net profit margin). New Risk • Jul 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.0% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (68% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (7.0% net profit margin). Reported Earnings • Jul 31
First quarter 2025 earnings released: EPS: JP¥251 (vs JP¥318 in 1Q 2024) First quarter 2025 results: EPS: JP¥251 (down from JP¥318 in 1Q 2024). Revenue: JP¥46.6b (down 4.0% from 1Q 2024). Net income: JP¥3.59b (down 23% from 1Q 2024). Profit margin: 7.7% (down from 9.6% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 26% per year. Major Estimate Revision • Jul 03
Consensus revenue estimates decrease by 90%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from JP¥1.88t to JP¥185.8b. EPS estimate increased from JP¥981 to JP¥1,027 per share. Net income forecast to grow 5.4% next year vs 2.3% growth forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥4,300 to JP¥5,600. Share price rose 14% to JP¥5,170 over the past week. Tillkännagivande • Jun 20
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2025 Results on Jul 29, 2024 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Major Estimate Revision • May 16
Consensus revenue estimates increase by 900% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from JP¥188.0b to JP¥1.88t. EPS estimate unchanged from JP¥981 at last update. Metals and Mining industry in Japan expected to see average net income growth of 2.6% next year. Consensus price target of JP¥4,300 unchanged from last update. Share price was steady at JP¥4,690 over the past week. Reported Earnings • May 11
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: JP¥934 (down from JP¥1,317 in FY 2023). Revenue: JP¥180.3b (down 9.5% from FY 2023). Net income: JP¥13.6b (down 31% from FY 2023). Profit margin: 7.5% (down from 9.9% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Metals and Mining industry in Japan. 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 25% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 11
Nippon Yakin Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2024 Nippon Yakin Kogyo Co., Ltd., Annual General Meeting, Jun 26, 2024. Tillkännagivande • May 10
Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces an Equity Buyback for 528,000 shares, representing 3.65% for ¥1,850 million. Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces a share repurchase program. Under the program, the company will repurchase up to 528,000 shares, representing 3.65% of its issued share capital (excluding treasury stock), for ¥1,850 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until June 21, 2024. As of March 31, 2024, the company had 14,473,820 shares in issue (excluding treasury stock) and 1,023,513 shares in treasury. Tillkännagivande • Mar 24
Nippon Yakin Kogyo Co., Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 Nippon Yakin Kogyo Co., Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (3.5%). Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥123 (vs JP¥460 in 3Q 2023) Third quarter 2024 results: EPS: JP¥123 (down from JP¥460 in 3Q 2023). Revenue: JP¥43.9b (down 18% from 3Q 2023). Net income: JP¥1.78b (down 74% from 3Q 2023). Profit margin: 4.1% (down from 13% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Metals and Mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Dec 20
Nippon Yakin Kogyo Co., Ltd. to Report Q3, 2024 Results on Feb 05, 2024 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q3, 2024 results on Feb 05, 2024 New Risk • Nov 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.5% 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 7.5% per year for the foreseeable future. Minor Risks High level of debt (83% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥301 (vs JP¥410 in 2Q 2023) Second quarter 2024 results: EPS: JP¥301 (down from JP¥410 in 2Q 2023). Revenue: JP¥45.4b (down 8.2% from 2Q 2023). Net income: JP¥4.36b (down 29% from 2Q 2023). Profit margin: 9.6% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥4,190, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Metals and Mining industry in Japan. Total returns to shareholders of 205% over the past three years. Tillkännagivande • Sep 23
Nippon Yakin Kogyo Co., Ltd. to Report Q2, 2024 Results on Oct 31, 2023 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥100.00 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥318 (vs JP¥169 in 1Q 2023) First quarter 2024 results: EPS: JP¥318 (up from JP¥169 in 1Q 2023). Revenue: JP¥48.5b (up 3.5% from 1Q 2023). Net income: JP¥4.67b (up 84% from 1Q 2023). Profit margin: 9.6% (up from 5.4% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to grow by 1.1%. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jun 21
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2024 Results on Jul 31, 2023 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥1,317 (up from JP¥561 in FY 2022). Revenue: JP¥199.3b (up 34% from FY 2022). Net income: JP¥19.7b (up 133% from FY 2022). Profit margin: 9.9% (up from 5.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Tillkännagivande • May 10
Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces an Equity Buyback for 666,000 shares, representing 4.45% for ¥2,000 million. Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces a share repurchase program. Under the program, the company will repurchase up to 666,000 shares, representing 4.45% of its issued share capital (excluding treasury stock), for ¥2,000 million. The purpose of the program is to enhance shareholder returns and improve capital efficiency. The program will run until June 30, 2023. As of March 31, 2023, the company had 14,956,363 shares in issue (excluding treasury stock) and 540,970 shares in treasury. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JP¥4,560, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Metals and Mining industry in Japan. Total returns to shareholders of 196% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥130 per share at 4.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 8.2% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.6%). Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: JP¥460 (vs JP¥243 in 3Q 2022) Third quarter 2023 results: EPS: JP¥460 (up from JP¥243 in 3Q 2022). Revenue: JP¥53.7b (up 37% from 3Q 2022). Net income: JP¥6.88b (up 88% from 3Q 2022). Profit margin: 13% (up from 9.3% in 3Q 2022). Revenue is forecast to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jan 08
Consensus EPS estimates increase by 27% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥188.8b to JP¥196.1b. EPS estimate increased from JP¥880 to JP¥1,120 per share. Net income forecast to grow 12% next year vs 15% decline forecast for Metals and Mining industry in Japan. Consensus price target of JP¥3,000 unchanged from last update. Share price fell 2.4% to JP¥4,070 over the past week. Tillkännagivande • Dec 24
Nippon Yakin Kogyo Co., Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Taizo Suga was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥410 (vs JP¥151 in 2Q 2022) Second quarter 2023 results: EPS: JP¥410 (up from JP¥151 in 2Q 2022). Revenue: JP¥49.5b (up 51% from 2Q 2022). Net income: JP¥6.13b (up 170% from 2Q 2022). Profit margin: 12% (up from 7.0% in 2Q 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Japan. 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 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥3,335, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Metals and Mining industry in Japan. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (5.4%). Tillkännagivande • Sep 15
Nippon Yakin Kogyo Co., Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Major Estimate Revision • Aug 26
Consensus EPS estimates increase by 139% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from JP¥177.1b to JP¥188.8b. EPS estimate increased from JP¥368 to JP¥880 per share. Net income forecast to grow 55% next year vs 14% decline forecast for Metals and Mining industry in Japan. Consensus price target up from JP¥2,900 to JP¥3,000. Share price rose 5.4% to JP¥2,977 over the past week. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 19% share price gain to JP¥2,732, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Metals and Mining industry in Japan. Total returns to shareholders of 54% over the past three years. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥169 (vs JP¥227 in 1Q 2022) First quarter 2023 results: EPS: JP¥169 (down from JP¥227 in 1Q 2022). Revenue: JP¥46.9b (up 49% from 1Q 2022). Net income: JP¥2.54b (down 26% from 1Q 2022). Profit margin: 5.4% (down from 11% in 1Q 2022). Over the next year, revenue is forecast to grow 6.8%, compared to a 2,055% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jun 24
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2023 Results on Aug 05, 2022 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2023 results on Aug 05, 2022 Major Estimate Revision • Jun 08
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from JP¥157.8b to JP¥177.1b. EPS estimate fell from JP¥443 to JP¥370. Net income forecast to shrink 35% next year vs 22% decline forecast for Metals and Mining industry in Japan. Consensus price target of JP¥2,900 unchanged from last update. Share price rose 4.9% to JP¥2,340 over the past week. Reported Earnings • May 11
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: JP¥561 (up from JP¥248 in FY 2021). Revenue: JP¥148.9b (up 32% from FY 2021). Net income: JP¥8.47b (up 125% from FY 2021). Profit margin: 5.7% (up from 3.3% in FY 2021). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 6.0%, compared to a 7.5% growth forecast for the mining industry in Japan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to JP¥2,128, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Metals and Mining industry in Japan. Total returns to shareholders of 13% over the past three years. Price Target Changed • Apr 27
Price target increased to JP¥2,900 Up from JP¥2,500, the current price target is provided by 1 analyst. New target price is 19% above last closing price of JP¥2,444. Stock is up 29% over the past year. The company is forecast to post earnings per share of JP¥676 for next year compared to JP¥248 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Taizo Suga was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 08
Nippon Yakin Kogyo Co., Ltd. to Report Fiscal Year 2022 Results on May 09, 2022 Nippon Yakin Kogyo Co., Ltd. announced that they will report fiscal year 2022 results on May 09, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥80.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 4.2% but the company is not cash flow positive. Trailing yield: 5.6%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (4.7%). Buying Opportunity • Mar 08
Now 26% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be JP¥3,468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.2% per annum over the last 3 years. Earnings per share has grown by 9.8% per annum over the last 3 years. Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: JP¥243 (up from JP¥67.19 in 3Q 2021). Revenue: JP¥39.3b (up 47% from 3Q 2021). Net income: JP¥3.66b (up 259% from 3Q 2021). Profit margin: 9.3% (up from 3.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) exceeded analyst estimates by 26%. Over the next year, revenue is forecast to grow 11%, compared to a 9.3% growth forecast for the 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 7% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (2.8%). Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥227 (vs JP¥46.25 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥31.5b (up 8.8% from 1Q 2021). Net income: JP¥3.43b (up 389% from 1Q 2021). Profit margin: 11% (up from 2.4% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% 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. Major Estimate Revision • Jun 11
Consensus revenue estimates increase to JP¥139.3b The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from JP¥123.0b to JP¥139.3b. EPS estimate increased from JP¥237 to JP¥412 per share. Net income forecast to grow 62% next year vs 49% growth forecast for Metals and Mining industry in Japan. Consensus price target of JP¥2,120 unchanged from last update. Share price was steady at JP¥2,345 over the past week. Reported Earnings • May 09
Full year 2021 earnings released: EPS JP¥248 (vs JP¥350 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥112.5b (down 18% from FY 2020). Net income: JP¥3.76b (down 29% from FY 2020). Profit margin: 3.3% (down from 3.9% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 15% per year. Tillkännagivande • May 08
Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces an Equity Buyback for 157,000 shares, representing 1.03% for ¥250 million. Nippon Yakin Kogyo Co., Ltd. (TSE:5480) announces a share repurchase program. Under the program, the company will repurchase up to 157,000 shares, representing 1.03% of its share capital, for ¥250 million. The company will repurchase its shares in order to enhance shareholder returns and improve capital efficiency. The share repurchase program will run until May 31, 2021. As of March 31, 2021, the company had 15,193,637 shares outstanding (excluding treasury shares) and 303,696 shares in treasury. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 26 June 2021. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (1.5%). Price Target Changed • Mar 14
Price target raised to JP¥2,120 Up from JP¥1,790, the current price target is provided by 1 analyst. The new target price is close to the current share price of JP¥2,147. As of last close, the stock is up 65% over the past year. Major Estimate Revision • Mar 13
Analysts increase EPS estimates to JP¥197 The 2021 consensus revenue estimate increased from JP¥113.9b to JP¥120.2b. The earnings per share estimate also received an upgrade from JP¥138 to JP¥197 for the same period. Net income is expected to shrink by 16% next year compared to 68% growth forecast for the Metals and Mining industry in Japan . The consensus price target of JP¥1,800 was unchanged from the last update. Share price is up 3.6% to JP¥2,147 over the past week. Is New 90 Day High Low • Feb 22
New 90-day high: JP¥2,119 The company is up 33% from its price of JP¥1,591 on 24 November 2020. The Japanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS JP¥67.20 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥26.7b (down 23% from 3Q 2020). Net income: JP¥1.02b (down 42% from 3Q 2020). Profit margin: 3.8% (down from 5.1% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year. Is New 90 Day High Low • Feb 05
New 90-day high: JP¥2,027 The company is up 33% from its price of JP¥1,519 on 06 November 2020. The Japanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. Tillkännagivande • Jan 07
Nippon Yakin Kogyo Co., Ltd. to Report Q3, 2021 Results on Feb 04, 2021 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q3, 2021 results on Feb 04, 2021 Is New 90 Day High Low • Dec 21
New 90-day high: JP¥1,856 The company is up 11% from its price of JP¥1,675 on 18 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 14% over the same period. Major Estimate Revision • Dec 13
Analysts lower EPS estimates to JP¥138 The 2021 consensus revenue estimate was lowered from JP¥115.4b to JP¥113.9b. Earning per share (EPS) estimate was also lowered from JP¥230 to JP¥138 for the same period. Net income is expected to shrink by 53% next year compared to 25% growth forecast for the Metals and Mining industry in Japan . The consensus price target increased from JP¥1,710 to JP¥1,790. Share price is down by 2.3% to JP¥1,769 over the past week. Price Target Changed • Dec 01
Price target lowered to JP¥1,710 Down from JP¥2,730, the current price target is provided by 1 analyst. The new target price is close to the current share price of JP¥1,690. As of last close, the stock is down 27% over the past year. Is New 90 Day High Low • Dec 01
New 90-day high: JP¥1,690 The company is up 14% from its price of JP¥1,488 on 02 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 8.0% over the same period. Tillkännagivande • Oct 08
Nippon Yakin Kogyo Co., Ltd. to Report Q2, 2021 Results on Oct 30, 2020 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q2, 2021 results on Oct 30, 2020 Tillkännagivande • Jul 05
Nippon Yakin Kogyo Co., Ltd. to Report Q1, 2021 Results on Jul 30, 2020 Nippon Yakin Kogyo Co., Ltd. announced that they will report Q1, 2021 results on Jul 30, 2020 
