New Risk • Jun 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: JP¥15.2b (US$93.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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. Market cap is less than US$100m (JP¥15.2b market cap, or US$93.8m). Upcoming Dividend • Jun 22
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 14 September 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.9%). Higher than average of industry peers (1.1%). Duyuru • Jun 03
Altech Corporation to Report Q2, 2026 Results on Aug 06, 2026 Altech Corporation announced that they will report Q2, 2026 results on Aug 06, 2026 Reported Earnings • May 16
First quarter 2026 earnings released: EPS: JP¥15.29 (vs JP¥49.43 in 1Q 2025) First quarter 2026 results: EPS: JP¥15.29 (down from JP¥49.43 in 1Q 2025). Revenue: JP¥13.3b (up 6.5% from 1Q 2025). Net income: JP¥900.0m (down 7.6% from 1Q 2025). Profit margin: 6.8% (down from 7.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Declared Dividend • Apr 11
Final dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 29th June 2026 Payment date: 14th September 2026 Dividend yield will be 4.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: JP¥203 (up from JP¥185 in FY 2024). Revenue: JP¥52.6b (up 5.6% from FY 2024). Net income: JP¥3.98b (up 8.3% from FY 2024). Profit margin: 7.6% (up from 7.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Duyuru • Feb 12
Altech Corporation, Annual General Meeting, Mar 26, 2026 Altech Corporation, Annual General Meeting, Mar 26, 2026. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥47.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 March 2026. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.1%). Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: JP¥41.54 (vs JP¥38.17 in 3Q 2024) Third quarter 2025 results: EPS: JP¥41.54 (up from JP¥38.17 in 3Q 2024). Revenue: JP¥12.9b (up 8.4% from 3Q 2024). Net income: JP¥815.0m (up 7.4% from 3Q 2024). Profit margin: 6.3% (down from 6.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Buy Or Sell Opportunity • Oct 01
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at JP¥2,743. The fair value is estimated to be JP¥3,454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 5.4%. Revenue is forecast to grow by 8.6% in 2 years. Earnings are forecast to grow by 0.8% in the next 2 years. Declared Dividend • Sep 13
First half dividend of JP¥47.00 announced Shareholders will receive a dividend of JP¥47.00. Ex-date: 29th December 2025 Payment date: 27th March 2026 Dividend yield will be 3.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 19
Altech Corporation to Report Q3, 2025 Results on Nov 11, 2025 Altech Corporation announced that they will report Q3, 2025 results on Nov 11, 2025 Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: JP¥45.59 (vs JP¥37.68 in 2Q 2024) Second quarter 2025 results: EPS: JP¥45.59 (up from JP¥37.68 in 2Q 2024). Revenue: JP¥12.8b (up 4.8% from 2Q 2024). Net income: JP¥894.4m (up 19% from 2Q 2024). Profit margin: 7.0% (up from 6.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 12
Altech Corporation to Report Q2, 2025 Results on Aug 06, 2025 Altech Corporation announced that they will report Q2, 2025 results on Aug 06, 2025 Reported Earnings • May 13
First quarter 2025 earnings released: EPS: JP¥49.39 (vs JP¥42.98 in 1Q 2024) First quarter 2025 results: EPS: JP¥49.39 (up from JP¥42.98 in 1Q 2024). Revenue: JP¥12.5b (up 5.5% from 1Q 2024). Net income: JP¥973.0m (up 14% from 1Q 2024). Profit margin: 7.8% (up from 7.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 23
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. 5 non-independent directors. Independent Outside Director Takako Shijo was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 11
Final dividend of JP¥47.00 announced Shareholders will receive a dividend of JP¥47.00. Ex-date: 27th June 2025 Payment date: 16th September 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Mar 04
Altech Corporation to Report Q1, 2025 Results on May 12, 2025 Altech Corporation announced that they will report Q1, 2025 results on May 12, 2025 Reported Earnings • Feb 15
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: JP¥185 (down from JP¥185 in FY 2023). Revenue: JP¥49.9b (up 7.9% from FY 2023). Net income: JP¥3.68b (flat on FY 2023). Profit margin: 7.4% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. Duyuru • Feb 14
Altech Corporation (TSE:4641) announces an Equity Buyback for 300,000 shares, representing 1.51% for ¥1,000 million. Altech Corporation (TSE:4641) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.51% of its issued share capital, for ¥1,000 million. The purpose of the program is to enable shareholder returns and a flexible capital policy that responds to changes in the business environment. The program will run until March 13, 2025. As of December 31, 2024, the company had 19,875,599 shares outstanding (excluding treasury stock) and 1,871,076 shares in treasury. Duyuru • Feb 13
Altech Corporation, Annual General Meeting, Mar 26, 2025 Altech Corporation, Annual General Meeting, Mar 26, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 27 March 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (0.9%). Duyuru • Dec 03
Altech Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Altech Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: JP¥38.19 (vs JP¥36.39 in 3Q 2023) Third quarter 2024 results: EPS: JP¥38.19 (up from JP¥36.39 in 3Q 2023). Revenue: JP¥11.9b (up 4.3% from 3Q 2023). Net income: JP¥759.0m (up 5.0% from 3Q 2023). Profit margin: 6.4% (in line with 3Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Duyuru • Aug 20
Altech Corporation to Report Q3, 2024 Results on Nov 12, 2024 Altech Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Declared Dividend • Aug 10
Dividend of JP¥44.00 announced Shareholders will receive a dividend of JP¥44.00. Ex-date: 27th December 2024 Payment date: 27th March 2025 Dividend yield will be 3.8%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,214, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Professional Services industry in Japan. Total returns to shareholders of 24% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥44.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 17 September 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (1.0%). Duyuru • Jun 19
Altech Corporation to Report Q2, 2024 Results on Aug 08, 2024 Altech Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 16
First quarter 2024 earnings released: EPS: JP¥42.98 (vs JP¥61.75 in 1Q 2023) First quarter 2024 results: EPS: JP¥42.98 (down from JP¥61.75 in 1Q 2023). Revenue: JP¥11.8b (up 6.3% from 1Q 2023). Net income: JP¥854.0m (down 31% from 1Q 2023). Profit margin: 7.2% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Declared Dividend • Apr 11
Final dividend of JP¥44.00 announced Shareholders will receive a dividend of JP¥44.00. Ex-date: 27th June 2024 Payment date: 17th September 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Duyuru • Feb 21
Altech Corporation to Report Q1, 2024 Results on May 13, 2024 Altech Corporation announced that they will report Q1, 2024 results on May 13, 2024 Buy Or Sell Opportunity • Feb 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 9.3% to JP¥2,922. The fair value is estimated to be JP¥2,385, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 7.8%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 4.0% in the next 2 years. Reported Earnings • Feb 16
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥185 (up from JP¥169 in FY 2022). Revenue: JP¥46.2b (up 5.9% from FY 2022). Net income: JP¥3.70b (up 8.2% from FY 2022). Profit margin: 8.0% (up from 7.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.2%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Duyuru • Feb 15
Altech Corporation, Annual General Meeting, Mar 26, 2024 Altech Corporation, Annual General Meeting, Mar 26, 2024. Buy Or Sell Opportunity • Jan 31
Now 20% undervalued Over the last 90 days, the stock has risen 11% to JP¥2,884. The fair value is estimated to be JP¥3,616, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 7.0%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to decline by 0.4% in the next 2 years. Duyuru • Dec 22
Altech Corporation to Report Fiscal Year 2023 Results on Feb 13, 2024 Altech Corporation announced that they will report fiscal year 2023 results on Feb 13, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of JP¥43.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 27 March 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.2%). Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: JP¥36.39 (vs JP¥41.18 in 3Q 2022) Third quarter 2023 results: EPS: JP¥36.39 (down from JP¥41.18 in 3Q 2022). Revenue: JP¥11.4b (flat on 3Q 2022). Net income: JP¥723.0m (down 13% from 3Q 2022). Profit margin: 6.4% (down from 7.3% in 3Q 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Duyuru • Aug 30
Altech Corporation to Report Q3, 2023 Results on Nov 08, 2023 Altech Corporation announced that they will report Q3, 2023 results on Nov 08, 2023 Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: JP¥28.55 (vs JP¥38.42 in 2Q 2022) Second quarter 2023 results: EPS: JP¥28.55 (down from JP¥38.42 in 2Q 2022). Revenue: JP¥11.7b (up 9.0% from 2Q 2022). Net income: JP¥570.0m (down 26% from 2Q 2022). Profit margin: 4.9% (down from 7.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Buying Opportunity • Aug 03
Now 20% undervalued Over the last 90 days, the stock is up 5.9%. The fair value is estimated to be JP¥3,349, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 6.4%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to decline by 9.0% in the next 2 years. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥52.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 19 September 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.5%). Higher than average of industry peers (1.3%). Duyuru • May 28
Altech Corporation to Report Q2, 2023 Results on Aug 08, 2023 Altech Corporation announced that they will report Q2, 2023 results on Aug 08, 2023 Buying Opportunity • May 15
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be JP¥3,389, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 6.4%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to decline by 9.0% in the next 2 years. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: JP¥61.75 (vs JP¥39.50 in 1Q 2022) First quarter 2023 results: EPS: JP¥61.75 (up from JP¥39.50 in 1Q 2022). Revenue: JP¥11.1b (up 10% from 1Q 2022). Net income: JP¥1.24b (up 56% from 1Q 2022). Profit margin: 11% (up from 7.9% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 12
Altech Corporation (TSE:4641) announces an Equity Buyback for 300,000 shares, representing 1.49% for ¥900 million. Altech Corporation (TSE:4641) announces a share repurchase program. Under the program, the company will repurchase 300,000 shares, representing 1.49% of its issued share capital, for ¥900 million. The purpose of the program is to enable shareholder returns and a flexible capital policy that responds to changes in the business environment. The program will run until June 12, 2023. As of December 31, 2022, the company had 20,146,610 shares outstanding (excluding treasury stock) and 1,600,065 shares in treasury. Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥169 (up from JP¥151 in FY 2021). Revenue: JP¥43.6b (up 11% from FY 2021). Net income: JP¥3.42b (up 10% from FY 2021). Profit margin: 7.8% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.6%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Professional Services industry in Japan. 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 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 12
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: JP¥169 (up from JP¥151 in FY 2021). Revenue: JP¥43.6b (up 11% from FY 2021). Net income: JP¥3.42b (up 10% from FY 2021). Profit margin: 7.8% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.6%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Duyuru • Dec 28
Altech Corporation to Report Q4, 2022 Results on Feb 09, 2023 Altech Corporation announced that they will report Q4, 2022 results on Feb 09, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 27 March 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.5%). 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. 4 non-independent directors. Independent Outside Director Masatoshi Go was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: JP¥41.18 (vs JP¥35.21 in 3Q 2021) Third quarter 2022 results: EPS: JP¥41.18 (up from JP¥35.21 in 3Q 2021). Revenue: JP¥11.3b (up 19% from 3Q 2021). Net income: JP¥829.0m (up 15% from 3Q 2021). Profit margin: 7.3% (down from 7.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Professional Services industry in Japan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Duyuru • Aug 31
Altech Corporation to Report Q3, 2022 Results on Nov 10, 2022 Altech Corporation announced that they will report Q3, 2022 results on Nov 10, 2022 Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: JP¥38.42 (vs JP¥36.74 in 2Q 2021) Second quarter 2022 results: EPS: JP¥38.42 (up from JP¥36.74 in 2Q 2021). Revenue: JP¥10.7b (up 14% from 2Q 2021). Net income: JP¥773.0m (up 2.7% from 2Q 2021). Profit margin: 7.2% (down from 8.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.7%, compared to a 16% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 10
Altech Corporation to Report Q2, 2022 Results on Aug 09, 2022 Altech Corporation announced that they will report Q2, 2022 results on Aug 09, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 20 September 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.2%). Reported Earnings • May 16
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: JP¥39.50 (up from JP¥39.01 in 1Q 2021). Revenue: JP¥10.1b (up 7.9% from 1Q 2021). Net income: JP¥800.0m (flat on 1Q 2021). Profit margin: 7.9% (down from 8.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 3.7%, compared to a 12% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. Buying Opportunity • May 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.7%. The fair value is estimated to be JP¥2,253, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 7.5%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings is also forecast to grow by 3.5% per annum over the same time period. 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 Masatoshi Go was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Feb 27
Altech Corporation to Report Q1, 2022 Results on May 12, 2022 Altech Corporation announced that they will report Q1, 2022 results on May 12, 2022 Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: JP¥151 (up from JP¥149 in FY 2020). Revenue: JP¥39.3b (up 9.8% from FY 2020). Net income: JP¥3.10b (up 1.2% from FY 2020). Profit margin: 7.9% (down from 8.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 1.9%, compared to a 13% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (0.7%). Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS JP¥35.21 (vs JP¥38.72 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥9.47b (up 12% from 3Q 2020). Net income: JP¥722.0m (down 8.8% from 3Q 2020). Profit margin: 7.6% (down from 9.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS JP¥36.74 (vs JP¥39.74 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: JP¥9.42b (up 11% from 2Q 2020). Net income: JP¥753.0m (down 7.4% from 2Q 2020). Profit margin: 8.0% (down from 9.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 23
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 18 September 2021. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.1%). Higher than average of industry peers (0.8%). Duyuru • May 18
Altech Corporation Provides Consolidated Financial Guidance for the Six Months Ending June 30, 2021 and Full Year Ending December 31, 2021 Altech Corporation provided consolidated financial guidance for the six months ending June 30, 2021 and full year ending December 31, 2021. For the six moths, the company expects net sales to be JPY 19,200 million, operating profit to be JPY 1,650 million, profit attributable to owners to be JPY 1,300 million, earnings per share to be JPY 63.41 per share.
For the full year, the company expects net sales to be JPY 40,000 million, operating profit to be JPY 4,000 million, profit attributable to owners to be JPY 3,060 million, earnings per share to be JPY 149.25 per share. Reported Earnings • May 16
First quarter 2021 earnings released: EPS JP¥39.01 (vs JP¥29.73 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥9.35b (up 4.1% from 1Q 2020). Net income: JP¥799.0m (up 30% from 1Q 2020). Profit margin: 8.5% (up from 6.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 26
New 90-day low: JP¥1,980 The company is down 8.0% from its price of JP¥2,152 on 27 November 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥3,930 per share. Analyst Estimate Surprise Post Earnings • Feb 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 6.7%, compared to a 5.3% growth forecast for the Professional Services industry in Japan. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥149 (vs JP¥139 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: JP¥35.8b (down 1.7% from FY 2019). Net income: JP¥3.06b (up 5.1% from FY 2019). Profit margin: 8.6% (up from 8.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 10
Altech Corporation, Annual General Meeting, Mar 25, 2021 Altech Corporation, Annual General Meeting, Mar 25, 2021. Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥35.00 Per Share Will be paid on the 27th of March to those who are registered shareholders by the 29th of December. The trailing yield of 3.3% is in the top quartile of Japanese dividend payers (3.0%), and it is higher than industry peers (0.8%). Is New 90 Day High Low • Dec 01
New 90-day high: JP¥2,186 The company is up 18% from its price of JP¥1,852 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 Professional Services industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥2,916 per share. Duyuru • Sep 03
Altech Corporation to Report Q3, 2020 Results on Nov 10, 2020 Altech Corporation announced that they will report Q3, 2020 results on Nov 10, 2020 Duyuru • Jun 19
Altech Corporation to Report Q2, 2020 Results on Aug 06, 2020 Altech Corporation announced that they will report Q2, 2020 results on Aug 06, 2020