Board Change • May 20
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. President, CEO, Representative Director & Corporate Officer Toshiki Kawai is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • May 01
Tokyo Electron Limited, Annual General Meeting, Jun 23, 2026 Tokyo Electron Limited, Annual General Meeting, Jun 23, 2026. Duyuru • Mar 26
Tokyo Electron Limited to Report Fiscal Year 2026 Results on Apr 30, 2026 Tokyo Electron Limited announced that they will report fiscal year 2026 results at 4:00 PM, Tokyo Standard Time on Apr 30, 2026 Duyuru • Feb 06
Tokyo Electron Limited (TSE:8035) announces an Equity Buyback for 7,500,000 shares, representing 1.63% for ¥150,000 million. Tokyo Electron Limited (TSE:8035) announces a share repurchase program. Under the program, the company will repurchase up to 7,500,000 shares, representing 1.63% of its issued share capital, for ¥150,000 million. The purpose of the program is to implement growth investments aimed at mid- to long-term profit growth, while also considering the company's current cash position. The program is valid till March 31, 2026. As of December 31, 2025, the company had 459,713,635 outstanding shares (excluding treasury stock) and 11,919,098 treasury shares. Board Change • Dec 30
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. President, CEO, GM of Corporate Innovation Division, Representative Director & Corporate Officer Toshiki Kawai is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Dec 24
Tokyo Electron Limited to Report Q3, 2026 Results on Feb 06, 2026 Tokyo Electron Limited announced that they will report Q3, 2026 results on Feb 06, 2026 Duyuru • Sep 26
Tokyo Electron Limited to Report Q2, 2026 Results on Oct 31, 2025 Tokyo Electron Limited announced that they will report Q2, 2026 results on Oct 31, 2025 Duyuru • Jun 24
Tokyo Electron Limited to Report Q1, 2026 Results on Jul 31, 2025 Tokyo Electron Limited announced that they will report Q1, 2026 results at 4:00 PM, Tokyo Standard Time on Jul 31, 2025 Duyuru • Apr 30
Tokyo Electron Limited, Annual General Meeting, Jun 17, 2025 Tokyo Electron Limited, Annual General Meeting, Jun 17, 2025. Duyuru • Mar 20
Tokyo Electron Limited to Report Fiscal Year 2025 Results on Apr 30, 2025 Tokyo Electron Limited announced that they will report fiscal year 2025 results on Apr 30, 2025 Duyuru • Mar 19
Tokyo Electron Limited Announces Board Retirements Tokyo Electron Limited announces that its Board of Directors has decided on the list of candidates for Corporate Director and Audit & Supervisory Board Member on March 19, 2025. The official resolution on these matters will be made at the Annual General Meeting of Shareholders held on June 17, 2025. Retiring Corporate Director: Yoshikazu Nunokawa. Retiring Audit & Supervisory Board Members: Kazushi Tahara, and Kyosuke Wagai (Outside Audit & Supervisory Board Member). Duyuru • Dec 25
Tokyo Electron Limited to Report Q3, 2025 Results on Feb 06, 2025 Tokyo Electron Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: JP¥255 (vs JP¥158 in 2Q 2024) Second quarter 2025 results: EPS: JP¥255 (up from JP¥158 in 2Q 2024). Revenue: JP¥566.6b (up 32% from 2Q 2024). Net income: JP¥117.7b (up 61% from 2Q 2024). Profit margin: 21% (up from 17% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • Nov 12
Tokyo Electron Limited (TSE:8035) announces an Equity Buyback for 3,500,000 shares, representing 0.76% for ¥70,000 million. Tokyo Electron Limited (TSE:8035) announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares, representing 0.76% of its issued share capital, for ¥70,000 million. The purpose of the program is to implement growth investments aimed at mid- to long-term profit growth, while also considering the company's current cash position. The program is valid till January 31, 2025. As of September 30, 2024, the company had 462,297,995 outstanding shares (excluding treasury stock) and 9,334,738 treasury shares. Duyuru • Sep 25
Tokyo Electron Limited to Report Q2, 2025 Results on Nov 12, 2024 Tokyo Electron Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥237 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 43% and the cash payout ratio is 84%. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥273 (vs JP¥137 in 1Q 2024) First quarter 2025 results: EPS: JP¥273 (up from JP¥137 in 1Q 2024). Revenue: JP¥555.1b (up 42% from 1Q 2024). Net income: JP¥126.2b (up 96% from 1Q 2024). Profit margin: 23% (up from 16% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €161, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Semiconductor industry in Germany. Total returns to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €160 per share. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €187, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €138 per share. Declared Dividend • Jul 11
Final dividend of JP¥200 announced Shareholders will receive a dividend of JP¥200. Ex-date: 27th September 2024 Payment date: 9th December 2024 Dividend yield will be 92%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 40% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jun 23
Tokyo Electron Limited to Report Q1, 2025 Results on Aug 08, 2024 Tokyo Electron Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • Jun 21
Full year 2024 earnings released: EPS: JP¥784 (vs JP¥1,008 in FY 2023) Full year 2024 results: EPS: JP¥784 (down from JP¥1,008 in FY 2023). Revenue: JP¥1.83t (down 17% from FY 2023). Net income: JP¥364.0b (down 23% from FY 2023). Profit margin: 20% (down from 21% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥784 (vs JP¥1,008 in FY 2023) Full year 2024 results: EPS: JP¥784 (down from JP¥1,008 in FY 2023). Revenue: JP¥1.83t (down 17% from FY 2023). Net income: JP¥364.0b (down 23% from FY 2023). Profit margin: 20% (down from 21% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €194, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 13x in the Semiconductor industry in Germany. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €129 per share. Board Change • Mar 29
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. 3 non-independent directors. Independent Outside Director Sachiko Ichikawa 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. Duyuru • Mar 28
Tokyo Electron Limited, Annual General Meeting, Jun 18, 2024 Tokyo Electron Limited, Annual General Meeting, Jun 18, 2024. Duyuru • Mar 27
Tokyo Electron Limited Announces Retirement of Makiko Eda as Corporate Director and Masataka Hama as Audit & Supervisory Board Member Tokyo Electron Limited announced the retirement of Makiko Eda as Corporate Director and Masataka Hama as Audit & Supervisory Board Member. Duyuru • Mar 23
Tokyo Electron Limited to Report Fiscal Year 2024 Results on May 10, 2024 Tokyo Electron Limited announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥219 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 31 May 2024. Payout ratio is a comfortable 48% and the cash payout ratio is 95%. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (1.2%). Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥219 (vs JP¥183 in 3Q 2023) Third quarter 2024 results: EPS: JP¥219 (up from JP¥183 in 3Q 2023). Revenue: JP¥463.7b (flat on 3Q 2023). Net income: JP¥101.5b (up 19% from 3Q 2023). Profit margin: 22% (up from 18% in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Dec 23
Tokyo Electron Limited to Report Q3, 2024 Results on Feb 09, 2024 Tokyo Electron Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥158 (vs JP¥383 in 2Q 2023) Second quarter 2024 results: EPS: JP¥158 (down from JP¥383 in 2Q 2023). Revenue: JP¥427.8b (down 40% from 2Q 2023). Net income: JP¥73.2b (down 59% from 2Q 2023). Profit margin: 17% (down from 25% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Semiconductor industry in Germany. 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 17% per year. Duyuru • Sep 22
Tokyo Electron Limited to Report Q2, 2024 Results on Nov 10, 2023 Tokyo Electron Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥128 per share at 1.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 07 December 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.1%). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥137 (vs JP¥189 in 1Q 2023) First quarter 2024 results: EPS: JP¥137 (down from JP¥189 in 1Q 2023). Revenue: JP¥391.7b (down 17% from 1Q 2023). Net income: JP¥64.3b (down 27% from 1Q 2023). Profit margin: 16% (down from 19% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Semiconductor 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 19% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 01
Tokyo Electron Limited to Report Q1, 2024 Results on Aug 10, 2023 Tokyo Electron Limited announced that they will report Q1, 2024 results at 3:30 PM, Tokyo Standard Time on Aug 10, 2023 Reported Earnings • Jun 22
Full year 2023 earnings released: EPS: JP¥3,023 (vs JP¥936 in FY 2022) Full year 2023 results: EPS: JP¥3,023 (up from JP¥936 in FY 2022). Revenue: JP¥2.21t (up 10% from FY 2022). Net income: JP¥471.6b (up 7.9% from FY 2022). Profit margin: 21% (in line with FY 2022). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. New Risk • Jun 14
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 6.9% 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 (6.9% average weekly change). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €127, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 15x in the Semiconductor industry in Germany. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €65.15 per share. Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥1,008 (vs JP¥936 in FY 2022) Full year 2023 results: EPS: JP¥1,008 (up from JP¥936 in FY 2022). Revenue: JP¥2.21t (up 10% from FY 2022). Net income: JP¥471.6b (up 7.9% from FY 2022). Profit margin: 21% (in line with FY 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥731 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥548 (vs JP¥707 in 3Q 2022) Third quarter 2023 results: EPS: JP¥548 (down from JP¥707 in 3Q 2022). Revenue: JP¥467.8b (down 7.6% from 3Q 2022). Net income: JP¥85.6b (down 22% from 3Q 2022). Profit margin: 18% (down from 22% in 3Q 2022). 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 8.7% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 23
Tokyo Electron Limited to Report Q3, 2023 Results on Feb 09, 2023 Tokyo Electron Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥1,149 (vs JP¥642 in 2Q 2022) Second quarter 2023 results: EPS: JP¥1,149 (up from JP¥642 in 2Q 2022). Revenue: JP¥709.2b (up 48% from 2Q 2022). Net income: JP¥179.3b (up 80% from 2Q 2022). Profit margin: 25% (up from 21% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥858 (vs JP¥642 in 2Q 2022) Second quarter 2023 results: EPS: JP¥858 (up from JP¥642 in 2Q 2022). Revenue: JP¥591.4b (up 23% from 2Q 2022). Net income: JP¥133.7b (up 34% from 2Q 2022). Profit margin: 23% (up from 21% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €331, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 4.5% per annum over the same time period. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥751 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 09 December 2022. Payout ratio is a comfortable 51% and the cash payout ratio is 76%. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.3%). Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: JP¥566 (vs JP¥645 in 1Q 2022) First quarter 2023 results: EPS: JP¥566 (down from JP¥645 in 1Q 2022). Revenue: JP¥473.7b (up 4.8% from 1Q 2022). Net income: JP¥88.1b (down 12% from 1Q 2022). Profit margin: 19% (down from 22% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year and the company’s share price has also increased by 32% per year. Board Change • Jul 31
High number of new directors Independent Outside Director Sachiko Ichikawa was the last director to join the board, commencing their role in 2021. Buying Opportunity • Jul 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be €397, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 6.6% per annum over the same time period. Reported Earnings • Jun 24
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥2.00t (up 43% from FY 2021). Net income: JP¥437.1b (up 80% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 18%, compared to a 14% growth forecast for the industry in Germany. Reported Earnings • Jun 24
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥2.00t (up 43% from FY 2021). Net income: JP¥437.1b (up 80% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 18%, compared to a 14% growth forecast for the industry in Germany. Reported Earnings • May 14
Full year 2022 earnings released: EPS: JP¥2,808 (vs JP¥1,562 in FY 2021) Full year 2022 results: EPS: JP¥2,808 (up from JP¥1,562 in FY 2021). Revenue: JP¥2.00t (up 43% from FY 2021). Net income: JP¥437.1b (up 80% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Outside Director Sachiko Ichikawa was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥693 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 May 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (1.1%). Buying Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be JP¥523, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥707 (up from JP¥297 in 3Q 2021). Revenue: JP¥506.5b (up 74% from 3Q 2021). Net income: JP¥110.0b (up 138% from 3Q 2021). Profit margin: 22% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Over the next year, revenue is forecast to grow 11%, compared to a 16% growth forecast for the 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 increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 14
Second quarter 2022 earnings released: EPS JP¥642 (vs JP¥357 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥480.5b (up 36% from 2Q 2021). Net income: JP¥99.9b (up 80% from 2Q 2021). Profit margin: 21% (up from 16% 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 9% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥562 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 27 November 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (0.7%). Duyuru • Aug 31
Tokyo Electron Announces the Launch of Prexa Tokyo Electron announced the launch of Prexa, the next-generation 300mm wafer prober that succeeds the Precio series of 300mm wafer probers. Demand for semiconductors is rising with the growth of information and communication technologies and the ongoing shift to a digital society. Accordingly, technological requirements for semiconductor production equipment are also becoming increasingly complex and challenging. In addition to process scaling, 3D stacking is drawing the industry’s attention as it enables leading-edge packaging that integrates multiple devices and/or heterogeneous devices. Its implementation necessitates a wafer testing process with reliable KGD* performance, which requires advanced features for wafer probers. While inheriting a number of key technologies from the Precio series, the Prexa wafer prober also adopts innovative functions and features—including error/assist reduction and enhanced automation—to achieve higher productivity than its predecessors. The Prexa platform also supports features that are drawing attention lately, including thermal control during the device tests and high load control of the stage for memory device. Functions and features of Prexa: Automation of operations including setups. Error/assist reduction and high-accuracy contact enabled by the latest optic system and new algorithms. High-speed inspection of probe tips and probe marks. TEL remains committed to providing the Best Products and Best Technical Service that satisfy the market’s needs. KGD: Known Good Die. It refers to bare chips (or bare dies) that have been fully tested and assured to be defect-free before being placed into their packages. Precio and Prexa are registered trademarks or trademarks of Tokyo Electron Group in Japan and/or other countries. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS JP¥645 (vs JP¥363 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥452.0b (up 44% from 1Q 2021). Net income: JP¥100.4b (up 78% from 1Q 2021). Profit margin: 22% (up from 18% 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 3% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS JP¥1,562 (vs JP¥1,171 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥1.40t (up 24% from FY 2020). Net income: JP¥242.9b (up 31% from FY 2020). Profit margin: 17% (in line with FY 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Reported Earnings • May 02
Full year 2021 earnings released: EPS JP¥1,562 (vs JP¥1,171 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: JP¥1.40t (up 24% from FY 2020). Net income: JP¥242.9b (up 31% from FY 2020). Profit margin: 17% (in line with FY 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Duyuru • May 01
Tokyo Electron Limited Revises Year-End Dividend Guidance for the Fiscal Year Ended March 31, 2021 Tokyo Electron Limited (TEL) announced the year-end dividends forecast for the fiscal year ended March 31, 2021 has been revised. The formal resolution of the year-end dividends for the fiscal year ended March 31, 2021 is planned at the Board of Directors' meeting held on May 13, 2021. The company now expects year-end dividend of JPY 421.00 per share against previously expected year-end dividend of JPY 380.00 per share. Reason for dividends forecast revision, TEL's dividend policy is to link dividend payments to business performance on an ongoing basis and a payout ratio is around 50% based on consolidated net income attributable to owners of parent. On the basis of the consolidated results for the fiscal year ended March 31, 2021 announced, TEL has revised upward the year-end dividends forecast announced on January 28, 2021. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥380 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 02 June 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (0.7%). Reported Earnings • Feb 18
Third quarter 2021 earnings released: EPS JP¥297 (vs JP¥316 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JP¥291.7b (down 1.3% from 3Q 2020). Net income: JP¥46.2b (down 6.4% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue misses expectations Revenue missed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 11%, compared to a 17% growth forecast for the Semiconductor industry in Germany. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS JP¥297 (vs JP¥316 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JP¥291.7b (down 1.3% from 3Q 2020). Net income: JP¥46.2b (down 6.4% from 3Q 2020). Profit margin: 16% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 10%, compared to a 20% growth forecast for the Semiconductor industry in Germany. Duyuru • Jan 29
Tokyo Electron Limited Revises Earnings Guidance for the Year Ending March 31, 2021 Tokyo Electron Limited revised earnings guidance for the year ending March 31, 2021. For the period, the company now expects net sales of ¥1,360.0 billion, Operating income of ¥306 billion and Net Income Attributable to Owners of Parent of ¥230 billion or ¥1,479.06 per share against previous guidance of net sales of ¥1,300.0 billion, Operating income of ¥281 billion and Net Income Attributable to Owners of Parent of ¥210 billion. Is New 90 Day High Low • Jan 18
New 90-day high: €352 The company is up 50% from its price of €235 on 20 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €191 per share. Is New 90 Day High Low • Dec 29
New 90-day high: €305 The company is up 37% from its price of €222 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €184 per share. Duyuru • Dec 26
Tokyo Electron Limited to Report Q3, 2021 Results on Jan 28, 2021 Tokyo Electron Limited announced that they will report Q3, 2021 results on Jan 28, 2021