Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥257 (vs JP¥252 in FY 2025) Full year 2026 results: EPS: JP¥257 (up from JP¥252 in FY 2025). Revenue: JP¥348.6b (flat on FY 2025). Net income: JP¥11.8b (up 4.9% from FY 2025). Profit margin: 3.4% (up from 3.2% in FY 2025). Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Duyuru • May 16
Mitsuba Corporation (TSE:7280) and Chubu Electric Power Company, Incorporated (TSE:9502) proposed to acquire an remaining 48.7% stake in Ryomo Systems Co.,Ltd. (TSE:9691) for ¥8.9 billion. Mitsuba Corporation (TSE:7280) and Chubu Electric Power Company, Incorporated (TSE:9502) proposed to acquire an remaining 48.7% stake in Ryomo Systems Co.,Ltd. (TSE:9691) for ¥8.9 billion on May 14, 2026. A cash consideration valued at ¥5200 per share will be paid by Mitsuba Corporation and Chubu Electric Power Company, Incorporated. The lower limit of the tender offer acceptance is 0.53726 million shares, which will increase the ownership of tender offerors to 66.67% stake. The sellers in the transaction include Sadami Hino, Custody Bank of Japan, Ltd., Hikari Tsushin Investments Okinawa Co., Ltd., Tomohiro Yoshida, Secom General Insurance Co., Ltd., Sunfield Industry Co., Ltd., Kiryu Gas Company and Ryuei Seiko, K.K. If the Tender Offer is successfully completed, but the Offerors are unable to acquire all of the Target Company Shares (excluding the Target Company Shares held by MITSUBA and the treasury shares held by the Target Company) in the Tender Offer, then the Offerors intend to request the Target Company to carry out a series of procedures (the “Squeeze Out Procedures”) for making the Offerors the only shareholders of the Target Company. the Offerors, MITSUBA plans to purchase up to 1,003,800 shares (ownership percentage: 28.69%) out of the total number of Tendered Share Certificates, Etc. in which 80% of the voting rights represented by the Target Company Shares will be held by MITSUBA after purchase, and Chubu Electric Power plans to purchase the remaining 20% shares.
The transaction is subject to minimum tender. The Board of Directors of Ryomo Systems Co.,Ltd. formed a special committee for the transaction. The expected completion of the transaction is July 8, 2026. The transaction was recommended by board of directors of Ryomo Systems on May 14, 2026.
Mizuho Securities Co., Ltd. acted as financial advisor for Mitsuba Corporation. YAMADA Consulting Group Co.,Ltd. acted as financial advisor for Chubu Electric Power Company, Incorporated. Mori Hamada & Matsumoto LPC acted as legal advisor for Mitsuba Corporation and Chubu Electric Power Company, Incorporated. Nishimura & Asahi acted as legal advisor for Ryomo Systems Co.,Ltd. Duyuru • May 15
Mitsuba Corporation, Annual General Meeting, Jun 25, 2026 Mitsuba Corporation, Annual General Meeting, Jun 25, 2026. Duyuru • May 10
Mitsuba Corporation to Report Fiscal Year 2026 Results on May 15, 2026 Mitsuba Corporation announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 11 June 2026. Payout ratio is a comfortable 5.6% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥26.42 (vs JP¥82.45 in 3Q 2025) Third quarter 2026 results: EPS: JP¥26.42 (down from JP¥82.45 in 3Q 2025). Revenue: JP¥86.4b (flat on 3Q 2025). Net income: JP¥1.22b (down 67% from 3Q 2025). Profit margin: 1.4% (down from 4.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). New Risk • Jan 19
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 8.5% 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 Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risk High level of debt (43% net debt to equity). Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to JP¥1,454, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 218% over the past three years. Duyuru • Dec 06
Mitsuba Corporation to Report Q3, 2026 Results on Feb 10, 2026 Mitsuba Corporation announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥67.98 (vs JP¥71.01 in 2Q 2025) Second quarter 2026 results: EPS: JP¥67.98 (down from JP¥71.01 in 2Q 2025). Revenue: JP¥86.7b (flat on 2Q 2025). Net income: JP¥3.13b (down 1.6% from 2Q 2025). Profit margin: 3.6% (down from 3.7% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • Nov 14
Dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 30th March 2026 Payment date: 11th June 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (2% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Sep 03
Mitsuba Corporation to Report Q2, 2026 Results on Nov 12, 2025 Mitsuba Corporation announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Aug 06
First quarter 2026 earnings released: EPS: JP¥73.93 (vs JP¥75.95 in 1Q 2025) First quarter 2026 results: EPS: JP¥73.93 (down from JP¥75.95 in 1Q 2025). Revenue: JP¥80.7b (down 4.5% from 1Q 2025). Net income: JP¥3.39b (flat on 1Q 2025). Profit margin: 4.2% (up from 4.0% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 01
Full year 2025 earnings released: EPS: JP¥265 (vs JP¥294 in FY 2024) Full year 2025 results: EPS: JP¥265 (down from JP¥294 in FY 2024). Revenue: JP¥349.4b (up 1.5% from FY 2024). Net income: JP¥11.9b (down 9.7% from FY 2024). Profit margin: 3.4% (down from 3.8% in FY 2024). The decrease in margin was driven by higher expenses. 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 27% per year, which means it is significantly lagging earnings growth. New Risk • Jun 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (48% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • May 31
Mitsuba Corporation to Report Q1, 2026 Results on Aug 05, 2025 Mitsuba Corporation announced that they will report Q1, 2026 results on Aug 05, 2025 Duyuru • May 14
Mitsuba Corporation, Annual General Meeting, Jun 26, 2025 Mitsuba Corporation, 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¥678, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 102% over the past three years. Duyuru • Mar 26
Mitsuba Corporation to Report Fiscal Year 2025 Results on May 14, 2025 Mitsuba Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 05 June 2025. Payout ratio is a comfortable 2.0% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.3%). New Risk • Mar 18
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 5.3% 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 (44% net debt to equity). Share price has been volatile over the past 3 months (5.3% average weekly change). Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥82.45 (vs JP¥123 in 3Q 2024) Third quarter 2025 results: EPS: JP¥82.45 (down from JP¥123 in 3Q 2024). Revenue: JP¥86.6b (down 4.6% from 3Q 2024). Net income: JP¥3.69b (down 33% from 3Q 2024). Profit margin: 4.3% (down from 6.1% in 3Q 2024). The decrease in margin was driven by lower revenue. 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 30% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 07
Mitsuba Corporation to Report Q3, 2025 Results on Feb 12, 2025 Mitsuba Corporation announced that they will report Q3, 2025 results on Feb 12, 2025 Declared Dividend • Nov 15
Dividend of JP¥10.00 announced Shareholders will receive a dividend of JP¥10.00. Ex-date: 28th March 2025 Payment date: 5th June 2025 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (2% earnings payout ratio) and cash flows (1% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 70% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Sep 13
Mitsuba Corporation to Report Q2, 2025 Results on Nov 13, 2024 Mitsuba Corporation announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 12
First quarter 2025 earnings released: EPS: JP¥75.95 (vs JP¥20.65 in 1Q 2024) First quarter 2025 results: EPS: JP¥75.95 (up from JP¥20.65 in 1Q 2024). Revenue: JP¥84.4b (up 6.8% from 1Q 2024). Net income: JP¥3.40b (up 268% from 1Q 2024). Profit margin: 4.0% (up from 1.2% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to JP¥755, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 8x in the Auto Components industry in Japan. Total returns to shareholders of 17% over the past three years. Duyuru • Jun 28
Mitsuba Corporation to Report Q1, 2025 Results on Aug 07, 2024 Mitsuba Corporation announced that they will report Q1, 2025 results at 3:00 PM, Tokyo Standard Time on Aug 07, 2024 Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: JP¥307 (vs JP¥26.48 in FY 2023) Full year 2024 results: EPS: JP¥307 (up from JP¥26.48 in FY 2023). Revenue: JP¥344.2b (up 7.7% from FY 2023). Net income: JP¥13.7b (up JP¥12.6b from FY 2023). Profit margin: 4.0% (up from 0.4% in FY 2023). The increase in margin was driven by higher revenue. 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 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 12
Full year 2024 earnings released: EPS: JP¥307 (vs JP¥26.48 in FY 2023) Full year 2024 results: EPS: JP¥307 (up from JP¥26.48 in FY 2023). Revenue: JP¥344.2b (up 7.7% from FY 2023). Net income: JP¥13.7b (up JP¥12.6b from FY 2023). Profit margin: 4.0% (up from 0.4% in FY 2023). The increase in margin was driven by higher revenue. 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. Duyuru • May 12
Mitsuba Corporation, Annual General Meeting, Jun 20, 2024 Mitsuba Corporation, Annual General Meeting, Jun 20, 2024. Duyuru • Mar 30
Mitsuba Corporation to Report Fiscal Year 2024 Results on May 10, 2024 Mitsuba Corporation announced that they will report fiscal year 2024 results on May 10, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥6.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 1.1% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: JP¥133 (vs JP¥11.53 in 3Q 2023) Third quarter 2024 results: EPS: JP¥133 (up from JP¥11.53 in 3Q 2023). Revenue: JP¥90.9b (up 8.1% from 3Q 2023). Net income: JP¥5.95b (up JP¥5.43b from 3Q 2023). Profit margin: 6.5% (up from 0.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JP¥1,414, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 9x in the Auto Components industry in Japan. Total returns to shareholders of 128% over the past three years. Duyuru • Nov 27
Mitsuba Corporation to Report Q3, 2024 Results on Feb 14, 2024 Mitsuba Corporation announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥852, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 10x in the Auto Components industry in Japan. Total returns to shareholders of 77% over the past three years. New Risk • Nov 10
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 7.6% 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 Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risk High level of debt (80% net debt to equity). Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥80.14 (vs JP¥6.41 in 2Q 2023) Second quarter 2024 results: EPS: JP¥80.14 (up from JP¥6.41 in 2Q 2023). Revenue: JP¥86.9b (flat on 2Q 2023). Net income: JP¥3.59b (up JP¥3.30b from 2Q 2023). Profit margin: 4.1% (up from 0.3% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 30
Mitsuba Corporation to Report Q2, 2024 Results on Nov 08, 2023 Mitsuba Corporation announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: JP¥23.97 (vs JP¥37.78 loss in 1Q 2023) First quarter 2024 results: EPS: JP¥23.97 (up from JP¥37.78 loss in 1Q 2023). Revenue: JP¥79.1b (up 18% from 1Q 2023). Net income: JP¥1.07b (up JP¥2.76b from 1Q 2023). Profit margin: 1.4% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 29
Mitsuba Corporation to Report Q1, 2024 Results on Aug 09, 2023 Mitsuba Corporation announced that they will report Q1, 2024 results on Aug 09, 2023 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥803, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 69% over the past three years. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥26.48 (vs JP¥1.85 in FY 2022) Full year 2023 results: EPS: JP¥26.48 (up from JP¥1.85 in FY 2022). Revenue: JP¥319.5b (up 12% from FY 2022). Net income: JP¥1.19b (up JP¥1.10b from FY 2022). Profit margin: 0.4% (up from 0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • May 11
Mitsuba Corporation, Annual General Meeting, Jun 22, 2023 Mitsuba Corporation, Annual General Meeting, Jun 22, 2023. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥699, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to JP¥583, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 12x in the Auto Components industry in Japan. Total returns to shareholders of 37% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥3.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 08 June 2023. Payout ratio is a comfortable 9.0% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥459, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: JP¥16.60 (vs JP¥48.24 loss in 3Q 2022) Third quarter 2023 results: EPS: JP¥16.60 (up from JP¥48.24 loss in 3Q 2022). Revenue: JP¥84.0b (up 17% from 3Q 2022). Net income: JP¥743.0m (up JP¥2.90b from 3Q 2022). Profit margin: 0.9% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buying Opportunity • Feb 02
Now 21% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be JP¥645, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Duyuru • Dec 01
Mitsuba Corporation to Report Q3, 2023 Results on Feb 08, 2023 Mitsuba Corporation announced that they will report Q3, 2023 results on Feb 08, 2023 Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, COO, Chief of Business Mgmt. & Management of Quality Assurance & Representative Director Katsuyoshi Kitada was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥16.49 (vs JP¥22.88 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥16.49 (up from JP¥22.88 loss in 2Q 2022). Revenue: JP¥86.2b (up 28% from 2Q 2022). Net income: JP¥738.0m (up JP¥1.76b from 2Q 2022). Profit margin: 0.9% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Duyuru • Nov 11
Mitsuba Corporation Revises Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2023 Mitsuba Corporation revised consolidated earnings forecasts for the fiscal year ending March 31, 2023. For the year, company expected net sales from JPY 330,000 million to JPY 320,000 million, Operating profit from JPY 11,000 million to JPY 10,000 million, Profit attributable to owners of parent from JPY 4,000 million to JPY 3,000 million and Basic earnings per share from JPY 69.26 to JPY 46.92. Duyuru • Aug 28
Mitsuba Corporation to Report Q2, 2023 Results on Nov 09, 2022 Mitsuba Corporation announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: JP¥32.78 loss per share (vs JP¥19.66 profit in 1Q 2022) First quarter 2023 results: JP¥32.78 loss per share (down from JP¥19.66 profit in 1Q 2022). Revenue: JP¥66.8b (down 4.2% from 1Q 2022). Net loss: JP¥1.47b (down 267% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Duyuru • May 29
Mitsuba Corporation to Report Q1, 2023 Results on Aug 10, 2022 Mitsuba Corporation announced that they will report Q1, 2023 results on Aug 10, 2022 Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥1.85 (vs JP¥16.36 in FY 2021) Full year 2022 results: EPS: JP¥1.85 (down from JP¥16.36 in FY 2021). Revenue: JP¥286.5b (up 6.4% from FY 2021). Net income: JP¥83.0m (down 89% from FY 2021). Profit margin: 0% (down from 0.3% in FY 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Duyuru • May 13
Mitsuba Corporation, Annual General Meeting, Jun 23, 2022 Mitsuba Corporation, Annual General Meeting, Jun 23, 2022. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, COO & Representative Director Katsuyoshi Kitada was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 08
Mitsuba Corporation to Report Fiscal Year 2022 Results on May 11, 2022 Mitsuba Corporation announced that they will report fiscal year 2022 results on May 11, 2022 Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: JP¥33.09 loss per share (down from JP¥85.31 profit in 3Q 2021). Revenue: JP¥72.0b (down 9.3% from 3Q 2021). Net loss: JP¥1.48b (down 139% from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Second quarter 2022 earnings released: JP¥12.80 loss per share (vs JP¥8.40 profit in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2022 results: Revenue: JP¥67.2b (down 6.8% from 2Q 2021). Net loss: JP¥573.0m (down 252% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorated over the past week After last week's 21% share price decline to JP¥654, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 11x in the Auto Components industry in Japan. Total loss to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 24% share price gain to JP¥798, the stock trades at a trailing P/E ratio of 48.8x. Average trailing P/E is 14x in the Auto Components industry in Japan. Total loss to shareholders of 38% over the past three years. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥16.36 (vs JP¥308 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥269.2b (down 12% from FY 2020). Net income: JP¥732.0m (up JP¥14.5b from FY 2020). Profit margin: 0.3% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 12
New 90-day high: JP¥613 The company is up 35% from its price of JP¥455 on 13 November 2020. The Japanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 25% over the same period.