Upcoming Dividend • Jun 22
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 02 September 2026. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.9%). In line with average of industry peers (2.5%). Canlı Haberler • May 17
Unicharm Expands Into Brazil With Acquisition of Leading Pet Food Maker Nutrire Unicharm has agreed to acquire 100% of Brazilian pet food maker Nutrire Indústria de Alimentos Ltda., marking its entry into Brazil’s pet care market.
The move brings Unicharm into the world’s third-largest pet care market through a full-scale presence rather than via partnerships or partial stakes.
The acquisition aligns with Unicharm’s 13th Mid-Term Management Plan, which highlights wellness and pet care as core growth drivers.
This acquisition signals a clear push to expand Unicharm’s pet care footprint by adding a new geography that is already significant in global pet spending.
Investors may want to watch for details on integration costs, synergy expectations, and how the Brazil business is reported within Unicharm’s wellness and pet care segment. New Risk • May 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.3% Last year net profit margin: 9.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • May 09
First quarter 2026 earnings: EPS in line with expectations, revenues disappoint First quarter 2026 results: EPS: JP¥11.40 (down from JP¥14.18 in 1Q 2025). Revenue: JP¥234.2b (up 2.9% from 1Q 2025). Net income: JP¥19.8b (down 21% from 1Q 2025). Profit margin: 8.4% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Duyuru • May 09
Unicharm Corporation to Report Q1, 2026 Results on May 08, 2026 Unicharm Corporation announced that they will report Q1, 2026 results on May 08, 2026 Declared Dividend • Apr 11
Final dividend of JP¥11.00 announced Shareholders will receive a dividend of JP¥11.00. Ex-date: 29th June 2026 Payment date: 2nd September 2026 Dividend yield will be 2.1%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥37.30 (down from JP¥46.41 in FY 2024). Revenue: JP¥945.3b (down 4.4% from FY 2024). Net income: JP¥65.2b (down 20% from FY 2024). Profit margin: 6.9% (down from 8.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Household Products 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 fallen by 20% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 14
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: JP¥37.30 (down from JP¥46.41 in FY 2024). Revenue: JP¥945.3b (down 4.4% from FY 2024). Net income: JP¥65.2b (down 20% from FY 2024). Profit margin: 6.9% (down from 8.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Household Products 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 fallen by 15% per year, which means it is significantly lagging earnings. Duyuru • Feb 07
Unicharm Corporation Revises Consolidated Earnings Guidance for the Full Fiscal Year Ending December 31, 2025 Unicharm Corporation revised Consolidated earnings guidance for the full Fiscal Year Ending December 31, 2025. For the year, the company now expects Net Sales of JPY 945,268 million, Core Operating Income of JPY 108,884 million, Profit Attributable to Owners of Parent of JPY 65,212 million and Basic Earnings Per Share of JPY 37.30 against previous guidance of Net Sales of JPY 974,000 million, Core Operating Income of JPY 120,000 million, Profit Attributable to Owners of Parent of JPY 85,100 million and Basic Earnings Per Share of JPY 48.68. In this revision of the financial forecasts, although net sales and core operating income performed better than expected in some regions such as North America and the Middle East, this was not enough to offset the struggles in China and Indonesia, resulting in a downward revision for the Company as a whole. The first factor is the feminine care business in China. Although there were signs of a temporary recovery from the impact of reputational damage that occurred in March 2025, new reputational damage occurred in October 2025. The impact of this lasted longer than expected, resulting in both sales and profits falling below the previous forecast. The second factor is Indonesia, where shipments were adjusted due to changes in distributors amidst a continued harsh business environment. In addition, profit before tax and profit attributable to owners of parent are expected to be significantly lower than the previous forecast. This is mainly due to the recording of an impairment loss of approximately JPY 6.0 billion on assets in the Asian region and a one-time charge associated with the revision of the GST (Goods and Services Tax) in India. Specifically, regarding the balance of paid GST (assets that can be used for input tax credits) previously recorded as assets by a local subsidiary, it has become difficult to offset a portion of it against future output GST or to receive refunds due to the impact of legal changes. As a result of a careful review of the recoverability of these assets, the Company has decided to record approximately JPY 6.9 billion as an evaluation loss under Other expenses. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 February 2026. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.2%). Duyuru • Dec 11
Unicharm Corporation Accelerates Global Disposable Diaper Recycling with New Dry Washing Method Unicharm Corporation has announced the development of an innovative new technology, the "Dry Washing Method," as part of its "RefF (Recycle for the Future)" disposable diaper recycling project. This pioneering method is set to open the path for disposable diaper recycling globally, particularly in water-scarce regions. The main technological breakthrough is the dramatic reduction of water consumption. The Dry Washing Method reduces water usage during the washing process to approximately 1/50th compared to conventional company methods. Previously, recycling disposable diapers required large amounts of water, creating a significant barrier in regions with poor water infrastructure or shortages. The Dry Washing Method resolves this by applying the fundamental concept of dry cleaning. It utilizes reusable solvents alongside unique sterilization and bleaching technologies to achieve hygienic processing while enabling dramatic water conservation. This makes it possible to transform "used disposable diapers" into "new resources" worldwide. Duyuru • Nov 09
Unicharm Corporation to Report Fiscal Year 2025 Results on Feb 16, 2026 Unicharm Corporation announced that they will report fiscal year 2025 results on Feb 16, 2026 Reported Earnings • Nov 08
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥10.84 (down from JP¥11.32 in 3Q 2024). Revenue: JP¥230.1b (down 1.8% from 3Q 2024). Net income: JP¥18.9b (down 5.1% from 3Q 2024). Profit margin: 8.2% (down from 8.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 14%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Declared Dividend • Sep 03
First half dividend of JP¥9.00 announced Shareholders will receive a dividend of JP¥9.00. Ex-date: 29th December 2025 Payment date: 27th February 2026 Dividend yield will be 1.8%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Aug 07
Unicharm Corporation to Report Q3, 2025 Results on Nov 07, 2025 Unicharm Corporation announced that they will report Q3, 2025 results on Nov 07, 2025 Reported Earnings • Aug 06
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥9.66 (down from JP¥12.35 in 2Q 2024). Revenue: JP¥236.7b (down 5.9% from 2Q 2024). Net income: JP¥16.9b (down 23% from 2Q 2024). Profit margin: 7.1% (down from 8.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 43%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 20
Upcoming dividend of JP¥9.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 03 September 2025. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (4.0%). Lower than average of industry peers (2.0%). Duyuru • May 20
Unicharm Corporation to Report Q2, 2025 Results on Aug 05, 2025 Unicharm Corporation announced that they will report Q2, 2025 results on Aug 05, 2025 Reported Earnings • May 10
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: JP¥14.18 (up from JP¥10.07 in 1Q 2024). Revenue: JP¥227.5b (down 3.7% from 1Q 2024). Net income: JP¥24.9b (up 40% from 1Q 2024). Profit margin: 11% (up from 7.5% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) exceeded analyst estimates by 20%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 11
Final dividend of JP¥9.00 announced Shareholders will receive a dividend of JP¥9.00. Ex-date: 27th June 2025 Payment date: 3rd September 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 45% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥139. Revenue: JP¥989.0b (up 5.0% from FY 2023). Net income: JP¥81.8b (down 4.9% from FY 2023). Profit margin: 8.3% (down from 9.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.6%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Household Products industry in Japan. Duyuru • Mar 06
Unicharm Corporation to Report Q1, 2025 Results on May 09, 2025 Unicharm Corporation announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Feb 15
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥139. Revenue: JP¥989.0b (up 5.0% from FY 2023). Net income: JP¥81.8b (down 4.9% from FY 2023). Profit margin: 8.3% (down from 9.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.6%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Household Products industry in Japan. Duyuru • Jan 03
Unicharm Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Unicharm Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Price Target Changed • Dec 27
Price target decreased by 10% to JP¥1,512 Down from JP¥1,686, the current price target is an average from 10 analysts. New target price is 16% above last closing price of JP¥1,307. Stock is down 23% over the past year. The company is forecast to post earnings per share of JP¥50.34 for next year compared to JP¥48.47 last year. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 07 March 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.5%). Price Target Changed • Nov 29
Price target decreased by 8.2% to JP¥5,249 Down from JP¥5,719, the current price target is an average from 10 analysts. New target price is 35% above last closing price of JP¥3,897. Stock is down 18% over the past year. The company is forecast to post earnings per share of JP¥154 for next year compared to JP¥145 last year. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,930, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Household Products industry in Japan. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥5,879 per share. Reported Earnings • Nov 09
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: JP¥33.96 (down from JP¥44.55 in 3Q 2023). Revenue: JP¥234.3b (flat on 3Q 2023). Net income: JP¥19.9b (down 24% from 3Q 2023). Profit margin: 8.5% (down from 11% in 3Q 2023). Revenue missed analyst estimates by 6.9%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Nov 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to JP¥4,705. The fair value is estimated to be JP¥5,884, 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 8.3%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Duyuru • Oct 26
Unicharm Corporation to Report Q3, 2024 Results on Nov 08, 2024 Unicharm Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 08
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: JP¥37.07 (up from JP¥30.63 in 2Q 2023). Revenue: JP¥251.4b (up 7.9% from 2Q 2023). Net income: JP¥21.8b (up 20% from 2Q 2023). Profit margin: 8.7% (up from 7.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 08
First half dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 27th December 2024 Payment date: 7th March 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.2%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 24%. Buy Or Sell Opportunity • Aug 02
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at JP¥4,691. The fair value is estimated to be JP¥5,896, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 8.8%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Duyuru • Jun 02
Unicharm Corporation to Report Q2, 2024 Results on Aug 06, 2024 Unicharm Corporation announced that they will report Q2, 2024 results on Aug 06, 2024 Reported Earnings • May 08
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: JP¥30.21 (up from JP¥27.84 in 1Q 2023). Revenue: JP¥236.3b (up 7.0% from 1Q 2023). Net income: JP¥17.8b (up 7.9% from 1Q 2023). Profit margin: 7.5% (in line with 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Declared Dividend • Apr 11
Final dividend of JP¥22.00 announced Shareholders will receive a dividend of JP¥22.00. Ex-date: 27th June 2024 Payment date: 4th September 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Mar 28
Unicharm Corporation to Report Q1, 2024 Results on May 07, 2024 Unicharm Corporation announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Feb 09
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: JP¥145 (up from JP¥114 in FY 2022). Revenue: JP¥941.8b (up 4.9% from FY 2022). Net income: JP¥86.1b (up 27% from FY 2022). Profit margin: 9.1% (up from 7.5% 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 3.5%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 08
Unicharm Corporation (TSE:8113) announces an Equity Buyback for 4,500,000 shares, representing 0.76% for ¥19,000 million. Unicharm Corporation (TSE:8113) announces a share repurchase program. Under the program, the company will repurchase 4,500,000 shares, representing 0.76% of its share capital, for ¥19,000 million. The company will repurchase its shares in order to enable further return of profits to shareholders and execution of flexible capital policy in response to changes in the business environment. The program will run until December 19, 2024. As of December 31, 2023, the company had 590,228,546 shares issued shares (excluding treasury shares) and 30,605,773 shares in treasury. Duyuru • Jan 12
Unicharm Corporation, Annual General Meeting, Mar 27, 2024 Unicharm Corporation, Annual General Meeting, Mar 27, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥20.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 06 March 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.2%). Duyuru • Dec 10
Unicharm Corporation to Report Fiscal Year 2023 Results on Feb 07, 2024 Unicharm Corporation announced that they will report fiscal year 2023 results on Feb 07, 2024 Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: JP¥44.55 (up from JP¥34.84 in 3Q 2022). Revenue: JP¥233.5b (flat on 3Q 2022). Net income: JP¥26.3b (up 27% from 3Q 2022). Profit margin: 11% (up from 8.9% in 3Q 2022). Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) exceeded analyst estimates by 4.7%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. 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 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 05
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: JP¥30.63 (up from JP¥25.04 in 2Q 2022). Revenue: JP¥233.1b (up 7.3% from 2Q 2022). Net income: JP¥18.2b (up 22% from 2Q 2022). Profit margin: 7.8% (up from 6.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 4.1%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥20.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 04 September 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.5%). Lower than average of industry peers (1.1%). Duyuru • Jun 01
Unicharm Corporation (TSE:8113) entered into Share Transfer Instrument to acquire 5.85% stake in Unicharm (Thailand) Company Limited from Osotspa Public Company Limited (SET:OSP) for THB 3 billion. Unicharm Corporation (TSE:8113) entered into Share Transfer Instrument to acquire 5.85% stake in Unicharm (Thailand) Company Limited from Osotspa Public Company Limited (SET:OSP) for THB 3 billion on May 31, 2023. As part of transaction, 420,500 shares will be acquired. Reported Earnings • May 09
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: JP¥27.84 (down from JP¥28.22 in 1Q 2022). Revenue: JP¥220.8b (up 8.1% from 1Q 2022). Net income: JP¥16.5b (down 1.8% from 1Q 2022). Profit margin: 7.5% (down from 8.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Mar 31
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: JP¥898.0b (up 15% from FY 2021). Net income: JP¥67.6b (down 7.1% from FY 2021). Profit margin: 7.5% (down from 9.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 10
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥114 (down from JP¥122 in FY 2021). Revenue: JP¥898.0b (up 15% from FY 2021). Net income: JP¥67.6b (down 7.1% from FY 2021). Profit margin: 7.5% (down from 9.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Household Products industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 07 March 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Japanese dividend payers (3.8%). Lower than average of industry peers (1.1%). Duyuru • Dec 06
Unicharm Corporation to Report Fiscal Year 2022 Results on Feb 08, 2023 Unicharm Corporation announced that they will report fiscal year 2022 results on Feb 08, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Outside Director Shigeru Asada 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. 